{"id":35939,"date":"2023-11-20T18:51:13","date_gmt":"2023-11-20T18:51:13","guid":{"rendered":"https:\/\/isafespend.com\/news\/stocks-making-the-biggest-moves-midday-microsoft-chegg-zoom-video-paramount-and-more\/"},"modified":"2023-11-20T18:51:14","modified_gmt":"2023-11-20T18:51:14","slug":"stocks-making-the-biggest-moves-midday-microsoft-chegg-zoom-video-paramount-and-more","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=35939","title":{"rendered":"Stocks making the biggest moves midday: Microsoft, Chegg, Zoom Video, Paramount and more"},"content":{"rendered":"<div>\n<div data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-6-2\">\n<p><span hidden=\"\" aria-hidden=\"true\" class=\"ArticleBody-extraData\"><span hidden=\"\" aria-hidden=\"true\" class=\"ArticleBody-extraData\"><span hidden=\"\" aria-hidden=\"true\" class=\"xyz-data\">Check out the companies making headlines in midday trading. Zoom Video Communications \u2014 The software stock added nearly 2% ahead of its third-quarter earnings due after market close. Analysts polled by FactSet expect $1.08 per share in earnings and revenue of $1.12 billion for the quarterly period, compared to the company&#8217;s guidance of between $1.07 and $1.09 per share in earnings and between $1.115 billion and $1.120 billion in revenue. Paramount Global \u2014 Shares of the entertainment giant popped nearly 7%. The Professional Fighters League announced on Monday that it completed its acquisition of mixed martial arts brand Bellator from Paramount. Penn Entertainment \u2014 The gambling stock jumped 7% on the heels of a Bank of America upgrade to buy from neutral. The firm said shares could get a boost from ESPN Bet, the company&#8217;s new sportsbook. Spectrum Brands Holdings \u2014 Shares dipped 2% after Wells Fargo downgraded the home essentials company to equal weight from overweight, saying it is less convicted about fundamentals. Microsoft \u2014 Shares jumped 1.9% after Microsoft announced that former OpenAI CEO Sam Altman and president and board chair Greg Brockman will be joining the tech giant to head a new artificial intelligence research team. Analysts viewed the hirings as a positive catalyst for Microsoft in the long term. Nvidia \u2014 The chip giant&#8217;s shares rose about 1%. Raymond James reiterated Nvidia as a strong buy ahead of Nvidia&#8217;s fiscal third-quarter report due late Tuesday, forecasting &#8220;another strong quarter.&#8221; The company is expected to have earned $3.37 per share on revenue of $16.19 billion, according to consensus estimates from FactSet. Boeing \u2014 The aerospace stock jumped 4% after Deutsche Bank upgraded the shares to a buy rating from hold. The Wall Street firm said aircraft deliveries are accelerating, which could carry through to a positive inflection in free cash flow revisions. Chegg \u2014 Shares of the education technology company dropped 5% following a downgrade to underweight from equal weight by Morgan Stanley. The bank said the stock&#8217;s recent run higher created an unattractive risk\/reward and noted Chegg is seeing weaker web traffic and download trends. Krispy Kreme \u2014 Shares of the doughnut chain declined 2% following a downgrade by JPMorgan to neutral from overweight. Analysts said that although Krispy Kreme has enormous underlying appeal, the company has execution issues. Iovance Biotherapeutics \u2014 The biopharmaceutical stock popped nearly 9% after Goldman Sachs initiated coverage of the company with a buy rating and $12 price target, suggesting the stock can more than double from Friday&#8217;s close. The firm said Iovance is developing &#8220;best-in-class&#8221; autologous tumor-infiltrating lymphocyte therapies for solid tumor cancers and is optimistic about its commercial opportunity. Caterpillar \u2014 Shares of the global leader in construction machinery were down 1.3% after HSBC initiated coverage of the stock at a hold rating. The firm said it likes the stock for its &#8220;leading position,&#8221; but attributed its rating to headwinds facing the U.S. machinery market. United Rentals \u2014 United Rentals fell about 2% after director Terri Kelly on Friday disclosed selling 630 shares of the equipment rental company, according to a regulatory filing. Kelly still owns 6,249 shares. Bristol Myers Squibb \u2014 Shares dropped nearly 4% after the drug company, along with 2seventy bio , announced a delay in gaining expanded approval for Abecma for earlier lines of triple-class exposed relapsed or refractory multiple myeloma. Energizer Holdings \u2014 Shares of the battery maker fell more than 2% midday after UBS downgraded the stock to neutral from buy. &#8220;We believe the risk\/reward is no longer attractive as current valuation remains above recent history,&#8221; analyst Peter Grom said. JPMorgan, Morgan Stanley and RBC Capital Markets have all recently trimmed ratings on the stock as well. \u2014 CNBC&#8217;s Alex Harring, Yun Li, Lisa Kailai Han, Sarah Min and Michelle Fox contributed reporting.<\/span><\/span><\/span><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/11\/20\/stocks-making-the-biggest-moves-midday-msft-chgg-zm-and-more.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Check out the companies making headlines in midday trading. Zoom Video Communications \u2014 The software stock added nearly 2% ahead of its third-quarter earnings due after market close. Analysts polled by FactSet expect $1.08 per share in earnings and revenue of $1.12 billion for the quarterly period, compared to the company&#8217;s guidance of between $1.07<\/p>\n","protected":false},"author":1,"featured_media":35940,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-35939","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stocks making the biggest moves midday: Microsoft, Chegg, Zoom Video, Paramount and more | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Check out the companies making headlines in midday trading. 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