See the companies making headlines in midday trading. Tesla — Tesla shares fell more than 6% after the electric vehicle maker reported an 8.5% year-over-year drop in deliveries in the first quarter. GE Vernova — Shares of GE Vernova jumped more than 3% after GE Vernova began trading on the New York Stock Exchange on Tuesday under the ticker symbol “GEV” following its split from General Electric. Shares of GE Aerospace, which was formerly known as General Electric and retains the ticker symbol “GE,” rose about 1%. ChampionX – Shares of the oilfield equipment maker jumped more than 8% after it agreed to be bought by SLB for $7.7 billion in an all-stock deal. The deal is expected to close before the end of 2024. PVH — Shares of the parent company of Calvin Klein and Tommy Hilfiger fell more than 23% after weak guidance for first-quarter and full-year revenue. While the retailer beat quarterly revenue and profit forecasts, it warned of a worsening macroeconomic environment and slow economic growth in Europe. Humana, UnitedHealth, CVS — Managed care health insurance stocks fell after the Center for Medicare and Medicaid Services announced that rates for the 2025 calendar year would rise 3.7%, in line with previous proposals. However, some investors were expecting more gains. Humana shares fell 13.1%, while CVS Health and UnitedHealth Group fell 9% each. Endeavor Group — Shares of entertainment company Endeavor rose more than 2.5% after private equity firm Silver Lake agreed to acquire the company in a deal valued at $13 billion. Blackstone – Shares of the alternative asset manager fell 1% after UBS downgraded its rating to neutral, saying the company could be pressured by a slow recovery in the real estate market. Nextracker – Shares fell 4.6% after Barclays downgraded the solar energy tracking company to equal weight from overweight, saying Nextracker is “trading at a premium to all other relevant companies.” However, the Wall Street bank still views stocks as a core asset that will “consistently deliver returns” to investors. Rice. Shares of the medical clothing maker fell 6.2% after Bank of America downgraded its rating from neutral to below neutral. The bank said Figs faces tough retail conditions. Petco — Shares of the pet supplies retailer fell 6.7% after Bank of America downgraded the stock to below buy, citing lower market share. D.R. Horton: Shares of the homebuilder fell 3.7%. Wedbush downgraded DR Horton and several other homebuilders to below neutral. The firm said homebuilder shares could see “normal seasonal declines in share prices” over the summer. Veeva Systems – Shares fell more than 5% after the company announced the departure of Chief Financial Officer Brent Bowman. Tim Cabral, the company’s previous CFO from 2017 to 2020, will serve as interim CFO until a permanent replacement is found. — CNBC’s Sarah Min, Alex Harring and Samantha Subin contributed reporting.
