EVgo –Shares soared 55% after the electric vehicle charger company received a $1.05 billion conditional loan from the Department of Energy. JPMorgan also upgraded EVgo to “overweight,” with analyst Bill Peterson citing the company’s higher utilization rates compared to peers and its owner-operator model.
Hims & Hers Health – The health platform saw shares plummet 14% after the FDA announced the resolution of the Zepbound and Mounjaro weight loss drug shortages from Eli Lilly. Hims & Hers had previously developed compound versions of the drugs to fill the gap during the shortage.
Joby Aviation – Shares dropped 7%, retreating from Wednesday’s nearly 28% jump following Toyota’s $500 million investment to help with the certification and production of Joby’s electric air taxi.
Levi Strauss – Shares dipped more than 7% after the denim maker reduced its full-year revenue outlook and posted weaker-than-expected third-quarter results. Levi is also considering selling its underperforming Dockers business.
Wolfspeed – Shares fell 6% after Mizuho downgraded the semiconductor maker to “underperform” from “neutral,” citing slowing global electric vehicle sales and increased competition from China.
Nvidia – The chipmaker’s stock rose 3% after CEO Jensen Huang described “insane” demand for its new Blackwell AI chips, noting that the chips are in full production and scheduled for Q4 shipment.
Stellantis – Shares dropped nearly 4%, hitting a 52-week low after Barclays downgraded the stock to “equal weight” from “overweight.” Analyst Henning Cosman pointed to the company’s U.S. inventory issues and declining market share in both the U.S. and Europe.
Palantir Technologies – Shares rose nearly 3%, continuing gains from the previous session. The company recently partnered with Edgescale AI to deliver Live Edge, an AI-powered platform aimed at manufacturing, utilities, and other industries.
Utility Stocks (Vistra & Constellation Energy) – Both Vistra and Constellation saw shares jump by 6% and 4% respectively, following comments from Google CEO Sundar Pichai, who suggested that the tech giant is considering using nuclear power for its data centres, positioning these companies as key players in supporting the tech industry’s AI growth.
