The largest stock price changes during the day: Nvidia, Logitech, Nikola, Uber, Cleveland-Cliffs and others.
Check out the companies making headlines in midday trading.
KB Home's earnings per share fell 4.5% lower than expected after missing on both the top and bottom lines of its quarterly results. The homebuilder reported earnings of $1.47 per share on revenue of about $1.40 billion, while Wall Street had predicted earnings of $1.56 per share on revenue of $1.50 billion, according to Refinitiv.
The electric vehicle company's shares increased by 5.6% after it started manufacturing the battery-electric version of its Tre semitruck at its Coolidge, Arizona factory.
After reports that Nvidia may source computer chips from Intel, Nvidia's stock price jumped 9.8%, while Intel's stock price increased by 6.9%. Additionally, Intel CEO Pat Gelsinger has been advocating for government support of semiconductor production legislation in the U.S.
The video game retailer's stock price increased by nearly 1% after a seven-day winning streak, with a 14% surge on Wednesday due to Chair Ryan Cohen's purchase of 100,000 additional shares and increased stake to 11.9%.
Steelcase's office furniture shares dropped 6.1% due to supply chain issues and inflationary pressures, despite revenue exceeding expectations in the latest quarter.
The computer peripherals manufacturer's shares increased by 4% following Bank of America's initiation of coverage with a buy rating. Despite a 13% decline in stock value this year, the analyst covering Logitech considers it "too inexpensive to ignore."
On Thursday, Bank of America analysts downgraded NetApp's stock price from buy to neutral, stating that the cloud company has limited growth potential.
Uber's shares increased by 4.9% after it announced a partnership with New York City taxis through the use of apps Curb and Creative Mobile Technologies.
The manufacturer experienced a 12% increase in shares due to global steel shortages driving interest in their products.
After Credit Suisse upgraded Liberty's stock to outperform from neutral, the European telecommunications company's shares rose 2.3%. The firm noted that "momentum was turning" for Liberty.
The reporting for CNBC's article was contributed by Margaret Fitzgerald, Yun Li, Tanaya Macheel, Jesse Pound, and Samantha Subin.
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