Several notable companies made significant midday moves in the market, reflecting a mix of upgrades, earnings reports, and strategic decisions.
Hims & Hers Health saw its shares rise by 3% after Bank of America upgraded the stock from “underperform” to “neutral.” This shift followed the news that Novo Nordisk had dropped its patent infringement case against the telehealth firm. The two companies have agreed that Hims will sell Novo’s popular drugs, Ozempic and Wegovy, on its platform. Analyst Allen Lutz explained in a Tuesday note that Novo’s decision to drop the lawsuit is a positive development, as it alleviates litigation risks and has resulted in a higher valuation in their models.
In a stark contrast, BioNTech’s U.S.-traded shares plummeted over 20%. The German biotechnology company announced that co-founders Drs. Ugur Sahin and Özlem Türeci are leaving to establish an independent venture. Compounding the news, BioNTech reported a fourth-quarter net loss of €305 million (approximately $355.75 million), which disappointed investors.
SolarEdge Technologies experienced a nearly 10% surge after Bank of America upgraded it from “underperform” to “neutral.” Analysts noted that the company’s margin trajectory and liquidity have stabilized, substantially reducing downside risks.
West Pharmaceutical Services faced a decline of 6% following the announcement that CEO Eric Green will retire in the latter half of 2026. The news sparked concerns about the leadership transition and its implications for the company’s strategy moving forward.
On the other hand, United Natural Foods saw its shares drop nearly 3% after reporting fiscal second-quarter revenue of $7.95 billion, which fell short of the $8.11 billion analysts were expecting. The company also revised its full-year revenue guidance downwards, now anticipating between $31 billion to $31.4 billion, compared to earlier forecasts of $31.6 billion to $32 billion.
Kohl’s shares increased by 1% as the retailer reiterated its commitment to a turnaround plan. Despite posting a disappointing fourth-quarter revenue of $4.97 billion-lower than the consensus estimate of $5.03 billion-the company reported adjusted earnings of $1.07 per share, surpassing expectations of 85 cents.
Casey’s General Stores gained nearly 2% after reporting third-quarter earnings of $3.49 per share, which exceeded the FactSet consensus estimate of $3 per share. However, revenue fell short, at $3.92 billion against the anticipated $4.04 billion.
UWM Holdings’ shares climbed almost 7% as the mortgage originator raised its revenue outlook for the first quarter to a range of $800 million to $900 million, up from an earlier estimate of $650 million to $850 million. This revised forecast also surpassed the FactSet consensus estimate of $641.3 million.
Rivian Automotive experienced a 6% jump after TD Cowen upgraded the electric vehicle manufacturer from “hold” to “buy.” The upgrade comes as Rivian prepares to launch its new, more affordable R2 SUV, a development seen as a positive sign for the renewed demand for electric vehicles in the U.S.
Vertex Pharmaceuticals saw its shares rise by 8% after announcing that a drug met its targets in a late-stage trial focused on IgA nephropathy, a serious condition that can lead to kidney failure.
As the market fluctuates, these updates reflect the ongoing shifts and dynamics within key sectors, emphasizing the importance of staying informed and proactive in investment strategies. For those looking to navigate these complexities, CNBC Pro LIVE offers insights and strategies to cultivate a successful investment approach.
Original Source: https://www.cnbc.com/2026/03/10/stocks-making-the-biggest-moves-midday-rivn-hims-kss-casy-vrtx.html
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Publish Date: 2026-03-10 23:02:00
