See the companies making headlines in midday trading. Nvidia — Nvidia shares fell more than 3% after the artificial intelligence chip maker unveiled its widely anticipated next-generation chips. Following this event, several Wall Street companies raised their price targets on Nvidia. The company plans to release the first version of its artificial intelligence graphics processors, known as Blackwell, later this year. Shares of rival Advanced Micro Devices fell 6.8% on the news. Super Micro Computer – Information technology shares fell 12% after filing to sell an additional two million shares through Goldman Sachs. Proceeds of approximately $2 billion will be used to “purchase inventory and other working capital purposes, expand manufacturing capacity and increase investment in research and development,” Super Micro Computer said. Unilever — Shares of the British consumer goods maker rose 2.9% in the United States after it announced plans to spin off its ice cream division, which includes Ben & Jerry’s and Magnum. The change is part of a restructuring plan that will affect around 7,500 jobs. Cryptocurrency stocks. Stocks tied to the price of Bitcoin fell on Tuesday as the benchmark cryptocurrency fell, falling more than $10,000 from last week’s all-time high. Shares of MicroStrategy, the largest corporate holder of Bitcoin, fell 15%, while cryptocurrency exchange Coinbase fell 8%. Crypto miner stocks fell across the board, with shares of top companies Riot Platforms and Marathon Digital falling 7% and 8%, respectively. Nordstrom — Shares jumped 12% after a Reuters report that the luxury department store chain is seeking to go private. Nordstrom is working with investment banks Morgan Stanley and Centerview Partners to see if private equity firms are interested in the deal, Reuters reported, citing people familiar with the matter. Tencent Music – Shares of the Chinese internet company rose 5.5% on the back of its quarterly earnings report. Tencent Music saw more than 20% year-on-year growth in paying users, although total revenue declined year-on-year. dLocal – Shares of the integrated software provider fell nearly 15% after posting a weaker-than-expected earnings report. DLocal earned 10 cents per share in the fourth quarter, less than the 15 cents expected by analysts surveyed by StreetAccount. Full-year revenue guidance was near the lower end of analysts’ expectations. Snowflake, MongoDB — Data technology stocks fell more than 1% and 3%, respectively, after Redburn Atlantic Equities was downgraded from neutral to sell. The company said both companies lack the benefits associated with generative artificial intelligence. Cognex, Chart Industries – Shares of both companies rose as UBS upgraded its rating to neutral. Cognex shares rose 2.5% after UBS said the software provider was offering investors high-quality growth at a discount, while Chart shares rose 3.8% after the bank said the clean energy and industrial gas maker equipment has carried out its management plan well. Endava – UK software shares jumped 5.7% after JPMorgan upgraded its rating to outperform from neutral. JPMorgan said Endava offers upside potential of 32% from Monday’s close after falling 50% in 2024. Avis Budget Group – Shares rose 2.5% after Bank of America initiated coverage of the car rental company with a “buy” rating, saying Avis was at “market perform.” an attractive entry point.” The bank’s $170 price target was 57% above Monday’s closing price. —Reporting by CNBC’s Tanaya Machil, Jessie Pound, Samantha Subin, Sarah Min and Michelle Fox.
