USA Rare Earth
The rare earth miner saw a significant jump of 8.8% after CEO Barbara Humpton revealed to CNBC that the company is in “close communication” with the White House. This news has sparked interest among investors, highlighting the potential for future collaborations and support.
GameStop
In contrast, the meme stock GameStop experienced a decline of 2.7%. The company announced in a recent filing that it is selling a mix of assets, including common stock and debt, although the exact amount remains undisclosed. This move has raised eyebrows among investors, reflecting ongoing volatility in the gaming retail sector.
Applied Materials
Shares of Applied Materials slipped by 2.2% after the company acknowledged in a regulatory filing that new U.S. export restrictions would negatively impact its revenue. The firm projected a decrease of approximately $110 million in fourth-quarter revenue and around $600 million for fiscal year 2026. This announcement has led to concerns about the company’s future performance.
Uranium Energy
Uranium Energy saw a decline of 2% following its announcement of a secondary offering of 15.5 million shares, with Goldman Sachs acting as the sole underwriter. This move is part of the company’s strategy to raise capital amid fluctuating market conditions.
Entergy
On a positive note, Entergy’s stock rose by 2% after the utility announced plans to supply power for Google’s upcoming technology investment, estimated at around $4 billion in Arkansas. This investment includes the development of a new data center in West Memphis, marking Google’s first venture in the state.
Zillow
Zillow experienced a boost of more than 1% after Gordon Haskett Research Advisors upgraded the real estate platform from hold to buy. The firm indicated that the recent sell-off was overdone, presenting an attractive buying opportunity. Despite a 17% decline over the past two weeks due to competitive pressures and legal challenges, the upgrade has renewed investor interest.
Red Cat Holdings
Red Cat Holdings, a player in the drone industry, gained 4% after Needham initiated research coverage with a buy rating. The firm believes that the unmanned aerial systems sector is entering a “supercycle,” positioning Red Cat to capitalize on the increasing demand for drone technology.
Freeport-McMoRan
Finally, Freeport-McMoRan, a copper and gold mining company, saw its shares rise by more than 1% after UBS upgraded the stock from neutral to buy. The firm argued that the market has been overly punitive following the declaration of force majeure at its Grasberg mine in Indonesia due to a tragic collapse. UBS analyst Daniel Major noted that the current pricing reflects an overly pessimistic outlook for the mine’s recovery, making the risk-reward scenario attractive for investors.
— Reporting contributed by CNBC’s Yun Li, Fred Imbert, and Sarah Min.
