These are some of the stocks making the biggest moves during midday trading: Viking Therapeutics — Shares tumbled 42% after phase 2 trial results showed Viking’s experimental oral obesity drug had more side effects than expected. About 20% of the patients in the trial quit using the drug due to symptoms such as nausea and vomiting. On average, patients lost 12% of their starting weight after 13 weeks. Target Hospitality — The temporary workforce housing play jumped 6.8%. On Monday, Stifel upgraded Target Hospitality to buy from hold, dubbing it a “back door data center play” and lifting its target price to $11 from $7.50. The new target price suggests about 37% upside from Monday’s close. Nvidia , Advanced Micro Devices and Palantir Technologies — Investors took profits in some of this year’s high-flying tech stocks. Nvidia shares dropped 3.5%, while AMD fell 5%. Palantir lost more than 9%. Strategy , Robinhood and Mara Holdings — Crypto-linked stocks dipped on Tuesday as bitcoin pulled back more than 2%. Bitcoin proxy Strategy and trading app maker Robinhood fell 7.4% and 6.5%, respectively. Bitcoin miners Mara Holdings and Riot Platforms lost more than 5% and nearly 3%, respectively. UnitedHealth — The health insurance giant slid more than 1% following back-to-back winning days. The stock had seen a recent resurgence after Warren Buffett revealed a stake of five million shares in UnitedHealth, valued at about $1.6 billion. On Friday, the stock posted a nearly 12% advance for its best day since 2020. Intel — Shares of the chipmaker jumped almost 7% after it was announced that SoftBank will make a roughly $2 billion investment in the company, paying $23 per share for Intel’s common stock. This comes as the U.S. government reportedly has been considering taking a stake in Intel. Palo Alto Networks — The cybersecurity stock gained 3% after the company’s fiscal fourth-quarter results topped Wall Street’s expectations. Palo Alto also posted better-than-expected guidance for the first quarter and full year and announced that its founder and chief technology officer, Nir Zuk, is retiring. Fabrinet — The electronic manufacturing services company dropped 12.8%. Fiscal fourth-quarter adjusted earnings of $2.65 per share just barely beat the $2.64 per share that analysts polled by FactSet were expecting. Revenue of $909.7 million topped the consensus estimate of $883.1 million. Additionally, the company announced upbeat earnings and revenue guidance for the first quarter. Viking Holdings — Shares fell nearly 2% after the cruise operator posted its quarterly results. Viking’s second-quarter adjusted earnings of 99 cents per share came in line with analysts’ expectations, according to FactSet, while its revenue for the quarter of $1.88 billion beat the $1.85 billion that was anticipated. The company also said it plans to take delivery of six river vessels during the rest of this year. Best Buy — The consumer electronics retailer rose 3% following the launch of its third-party marketplace , which will expand its product offerings to shoppers. Xpeng — U.S. shares of the Chinese electric car startup popped 4% on the heels of the company posting a smaller-than-expected loss for the second quarter, per FactSet. Its revenue for the period also topped analysts’ estimates. Tegna — Shares climbed 4%. Television broadcaster 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 — Shares of the home improvement retailer added 3.2%. Despite the company missing on both lines for the first time since 2014, it maintained its full-year outlook. — CNBC’s Alex Harring, Michelle Fox Theobald, Sean Conlon and Christina Cheddar Berk contributed reporting.
Stocks making the biggest moves midday: HD, INTC, VKTX, NVDA
