These are some of the stocks making the biggest moves in Tuesday’s noon trading. Viking Treatment – The stock fell 42% after phase 2 trial results showed that Viking’s experimental oral obese drugs had more side effects than expected. Approximately 20% of patients on the trial stopped using medication due to symptoms such as nausea and vomiting. On average, patients lost 12% of their starting weight after 13 weeks. Target Hospitality – Temporary Workforce Housing Play has increased by around 6%. On Monday, Stifel bought Target Hospitality from Hold and dubbed it as “Backdoor Data Center Play,” increasing its target price from $7.50 to $11. The new price target suggests an upside of about 37% since the end of Monday. Nvidia, Advanced Micro Devices, Palantir Technologies – Investors have made profits from some of the leaps and bounds of the year. Nvidia’s shares fell nearly 3%, while AMD approached 5%. Palantir lost 7%. Strategy, Robinhood, Mara Holdings – Cryptolinked stocks immersed on Tuesday as Bitcoin pulled back more than 2%. Bitcoin proxy strategy and trading app maker Robin Hood each fell by around 6%. Bitcoin Minor Mala Holdings and the Riot Platform have lost over 5% and 2% respectively. UnitedHealth – The health insurance giant slipped over 2% after consecutive win days. It saw a recent revival after Warren Buffett revealed 5 million shares in UnitedHealth, worth around $1.6 billion. On Friday, the stock recorded an upfront payment of nearly 12% on the highest day since 2020. Intel – After Softbank announced it would invest around $2 billion in the company and pay $23 per share in Intel’s common stock, the chipmaker’s shares rose by more than 6%. This is coming as the US government reportedly considers taking stock in Intel. Palo Alto Networks – Cybersecurity stocks earned more than 3% after the company’s fourth quarter results surpassed Wall Street expectations. Palo Alto also posted better guidance than expected for the first quarter and full year, and announced that founder and chief technology officer NIR Zuk is resigning. Fabrinet – Electronic manufacturing services companies fell by 10%. Adjusted fourth quarter revenue narrowly beat $2.65 per share earnings, which FactSet had expected, at $2.64 per share. Revenue of $909.7 million has surpassed the consensus estimate of $883.1 million. Additionally, the company announced bright first quarter revenues and revenue guidance. Viking Holdings – Shares fell nearly 2% after cruise operators posted quarterly results. Vikings’ second quarter adjusted revenues were in line with analyst expectations, but their $1.88 billion revenues beat the expected $1.85 billion, according to FactSet. The company also said it plans to deliver six river boats for the remainder of the year. Best Buy – After launching the third-party market, Consumer Electronics retailers will rise by 3%, expanding their product offerings to shoppers. XPENG – US stocks of Chinese electric vehicle startups earned 5% on the heels of companies posting losses above their second quarter’s expectations per fact set. Revenue for this period is also outperformed by analysts’ estimates. TEGNA – Stocks rose 4%. Television stations Nexstar Media and Tegna announced Tuesday that Nexstar has agreed to acquire Tegna for $3.54 billion. The deal is expected to close by the second half of next year. Home Depot – Home Improvement Retailer’s shares added 3%. For the first time since 2014, the company lacked on both lines maintained its full-year outlook. – CNBC’s Alex Hurling, Michelle Fox Theobaldo, Sean Conlon and Christina Cheddar Burke reported.
