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Stocks making the biggest moves midday: Best Buy, Big Lots, Coinbase and more

A shopper loads televisions into the trunk of a vehicle outside a Best Buy store on Black Friday in San Francisco, Nov. 25, 2022.
David Paul Morris | Bloomberg | Getty Images

Check out the companies making headlines in midday trading.

Best Buybeat on both the top and bottom lines. Adjusted earnings per share came in at $1.22, versus the $1.06 expected from analysts polled by Refintiv. Revenue was $9.58 billion, topping the consensus estimate of $9.52 billion. However, Best Buy lowered the top end of its revenue outlook for the year.

Big Lots

CoinbaseMarathon DigitalRiot Platformscourt ruled against the U.S. Securities and Exchange Commission in a lawsuit about spot bitcoin exchange-traded funds. Shares of Coinbase, which is named as a custodial partner in several proposed bitcoin ETFs, jumped 13%. Bitcoin mining stocks also rose, with Marathon Digital surging 24% and Riot Platforms climbing 15%.



Niowider quarterly loss than anticipated. Industry giant Tesla


PDD Holdings

Oraclean upgrade from UBS to buy from neutral. UBS said the stock could have upside ahead due to tailwinds tied to AI.

AT&TVerizonCiti upgrade to buy. The firm cited stabilization in the wireless environment and said the stocks’ valuations may be over discounting potential costs tied to mitigating lead-covered cables.

AlphabetGeneral Motorsworking together to explore AI opportunities across the automaker’s business. Following the announcement, shares of Google Cloud’s parent company Alphabet and General Motors rose 3.5% and 0.6%, respectively, during midday trading.


Ginkgo Bioworksfive-year cloud and AI partnership with Google Cloud. As part of the deal, Ginkgo Bioworks will work to create new large language models for biology and biosecurity uses. Alphabet shares were last up more than 3%.

Rockwell Automation


Palantir Technologiesreiterated its buy rating on Palantir, calling the company a “key player” in implementing secure AI despite the recent share pullback.

SplunkJefferies named the company a top pick in a Tuesday note. Jefferies said Splunk is now in the position to deliver “mid-teens” increases in annual revenue after a management overhaul that began 18 months ago.

Futu Holdings

NextEra Energy Partners

— CNBC’s Sarah Min, Samantha Subin, Yun Li, Hakyung Kim, Michelle Fox, Pia Singh and Jesse Pound contributed reporting.

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