Check out the companies making headlines in midday trading.
U.S. Steel — Shares dropped 8.6% Tuesday, the day after President-elect Donald Trump said he would stop Japan's Nippon Steel from buying the Pittsburgh steelmaker. The deal was first reached in late 2023 but has faced political and labor opposition since.
AT & T — The telecom stock jumped more than 4% after forecasting more than $18 billion in free cash flow in 2027. AT & T also set a three-year strategy, including plans to double its fiber internet availability and enhance its 5G network.
Upstart Holdings — The artificial intelligence-powered lending marketplace climbed nearly 4% on the back of a Redburn Atlantic upgrade to buy. Redburn said the worst is behind the company and that the "best is yet to come."
Credo Technology Group — The maker of cable used in AI data centers soared 41% after posting strong fiscal second-quarter earnings and issuing higher current-quarter revenue guidance. Credo earned an adjusted 7 cents per share on revenue of $72 million in the quarter just ended, while analysts polled by LSEG had forecasted 5 cents and $67 million, respectively.
"The best time to own OLLI may have passed," Wells Fargo said. "Mgmt has firmed up the foundation while capturing cyclical tailwinds, but the path forward seems trickier than appreciated and big picture questions linger."
Zscaler — The cloud security company posted in-line guidance for its fiscal second-quarter revenue that disappointed investors, sending shares more than 3.5% lower. Zscaler exceeded analysts' adjusted earnings and revenue estimates in its fiscal first quarter.
PSQ Holdings — Shares surged 89% after Bloomberg News reported Donald Trump Jr. could join the board of PSQ Holdings as soon as Tuesday.
Cleanspark — The bitcoin miner slipped 4.3% on weaker-than-expected revenue for fiscal year 2024 . Revenue came in at $379 million, below the $395 million consensus estimate of analysts surveyed by FactSet.
Tesla plans to appeal a ruling blocking CEO Elon Musk's $56 billion pay package reinstatement.
- The electric vehicle maker slipped almost 2%
- A Delaware judge blocked Musk's pay package reinstatement
Tesla - South Korean stocks:- U.S.-listed shares slumped after martial law declaration
- Shares pared losses following parliament vote lifting martial law
- iShares MSCI South Korea ETF (EWY) dropped by: -2.5%- Franklin FTSE South Korea ETF (FLKR) lost: -1.9%
Tesla -- FedEx:- Memphis-based package delivery company slipped: -3/3%- Downgraded at Bernstein from outperform to market perform due to uncertainty around meeting high expectations for potential spin-off less-than-truckload business