Here are some companies that are making headlines in intraday trading. Home Construction Stocks — Home construction stocks fell as the average interest rate on a 30-year fixed mortgage exceeded 7%. The State Street SPDR S&P Home Builders ETF (XHB) fell more than 2%. Home builder Pulte Group’s stock fell 2%, and furniture retailer Williams-Sonoma’s stock fell nearly 2%. Shares of Owens Corning and Home Depot each fell 1%. Artificial Intelligence Infrastructure — Stocks of companies related to AI infrastructure fell as investors went into risk-off mode. The iShares AI Innovation and Tech Active ETF (BAI) fell nearly 2%. Shares of Vertiv and CoreWeave each fell nearly 5%, and shares of photonics play Lumentum fell nearly 4%. Nvidia stock fell about 2%, and Micron Technology stock fell more than 4%. Oracle — Shares fell nearly 2% before the software giant reported first-quarter results after the close. TheStreet expects earnings of $1.74 per share on revenue of $19.14 billion, according to FactSet. Traders will likely keep a close eye on the details of building out the AI infrastructure. Elevance Health — Shares rose about 5% after finance chief Mark Kay said Elevance’s third-quarter earnings per share were on track to beat the company’s prior expectations. The company also reaffirmed its 2026 earnings outlook of at least $27 per share, excluding one-time items. By comparison, the FactSet consensus is $27.15 per share. Biohaven — The biopharmaceutical company’s stock plunged 16% after the Food and Drug Administration partially put a clinical trial on an experimental treatment for epilepsy on hold due to potential safety concerns raised during rodent testing. Biohaven said the findings are specific to rodents and may not relate to safety in humans, and that the drug has been generally safe and well-tolerated in clinical studies administered to more than 1,200 participants to date. Macy’s — The department store chain’s stock price fell more than 3%. Macy’s expects an adjusted loss of 19 cents to 23 cents per share for the current quarter, higher than the 6 cents per share loss expected by analysts, according to FactSet. Separately, Macy’s reported second-quarter sales growth and raised its full-year outlook for net sales, comparable sales and earnings per share. Apple — Shares rose 2% a day after the iPhone maker unveiled the foldable iPhone Duo and other products. Investor reaction was muted on Wednesday, with shares closing slightly lower. Copper Miners — Miners’ stock prices fell along with copper prices. The threat of tariffs has pushed metal prices higher this year, but prices on Thursday fell after hitting record highs in early trading. Freeport-McMoRan stock fell nearly 7%, and Southern Copper stock fell more than 6%. AeroVironment — Shares of the drone maker rose 10% after better-than-expected first-quarter results. AeroVironment earned an adjusted profit of 59 cents per share on revenue of $480 million. Analysts surveyed by LSEG had expected 25 cents a share, or $456 million. American Eagle Outfitters — The teen apparel retailer’s stock fell 15%. American Eagle’s second-quarter comparable sales were down 1%, compared with analysts’ expectations for a 0.6% decline. The company expects operating profit for the quarter to be between $110 million and $115 million, compared to the StreetAccount consensus estimate of $124.3 million. Navan — Shares of the maker of travel and expense management software platforms fell 20%. Navan’s second-quarter adjusted earnings were 5 cents per share, narrowly beating analysts’ expectations of 4 cents per share, according to FactSet. Navan also announced the acquisition of event platform BoomPop. Financial terms were not disclosed. Cooper Companies — Shares of the contact lens maker fell about 13% after its fourth-quarter fiscal year forecast fell short of Street expectations. Cooper expects revenue to be between $1.06 billion and $1.08 billion and adjusted earnings between $1.05 and $1.09 per share. LSEG’s consensus estimate is $1.11 billion, or $1.19 per share. Enbridge — Shares fell 3% after the energy and distribution company announced it would acquire Tallgrass Energy’s crude oil transportation business for $2.55 billion. —CNBC’s Nick Wells contributed reporting.
