Here we will introduce companies that have become a hot topic in intraday trading. Alnylam Pharmaceuticals — Shares rose 4% after Alnylam announced a strategic artificial intelligence partnership with Inceptive Nucleics worth up to $2 billion. Alnylam plans to use Inceptive’s generative AI models to help discover RNA interference treatments. BLACKSTONE — The asset manager’s stock rose 8% as investors appeared to shake off news that the company was restricting withdrawals from its Blackstone Private Credit Fund due to an increase in investor redemption claims. The stock is now on track to end a three-day losing streak. Fellow asset management companies Ares Management and KKR followed suit, each increasing their stock prices by 6%. Humana — The health insurance company’s stock rose more than 6%. Morgan Stanley raised its price target for Humana to $249 per share, suggesting about 24% downside from Wednesday’s closing price. Still, this is lower than the nearly 34% decline expected based on the previous price target of $217 per share. Morgan Stanley maintained an underweight rating on the stock. Broadcom — Shares fell nearly 15% after the semiconductor maker reported second-quarter revenue of $22.19 billion, missing the $22.27 billion expected by analysts surveyed by LSEG. Broadcom CEO Hock Tan reiterated the AI chip’s revenue forecast for fiscal year 2027 as “more than $100 billion.” Semiconductor stocks — Stocks of artificial intelligence semiconductor companies fell after Broadcom’s earnings. Micron Technology’s stock price fell nearly 7%. Intel’s stock fell 2% and Advanced Micro Devices’ stock fell 4%. Arm Holdings’ stock price fell nearly 5% last time. 5 Down — Shares fell 13% as the discount retailer gave a better-than-expected outlook. Second-quarter revenue is expected to be in the range of $1.18 billion to $1.2 billion, compared to StreetAccount’s estimate of $1.15 billion. Same-store sales are expected to increase 7% to 9% in the same period, compared with a consensus of 4.4%. Petco — The pet retailer’s stock fell about 8% after Petco’s current quarter forecast fell short of Wall Street expectations. Petco expects second-quarter adjusted EBITDA to be in the range of $110 million to $112 million. Consensus called for EBITDA of $115 million per StreetAccount. CrowdStrike — The cybersecurity company’s stock fell 6% on lackluster second-quarter guidance. CrowdStrike expects second-quarter sales of about $1.44 billion, slightly above the $1.3 billion expected by Street accounts. The company also expects adjusted earnings to be between $1.16 and $1.17 per share. Analysts had expected earnings of around $1.16 per share. Palo Alto Networks’ stock price also fell accordingly. PVH — Shares of the parent company of Tommy Hilfiger and Calvin Klein plummeted 20% after the company updated its full-year profit outlook. The company also beat first-quarter profits, but sales were roughly in line with expectations. UnitedHealth — Shares of the health insurance company rose 5% after Bank of America upgraded it to Neutral Buy. The bank said improving health care cost trends and near-term data points will lead to strong second-quarter profits. Medtronic — The medical technology company’s stock rose 4%. Following Medtronic’s earnings beat on Wednesday, BTIG upgraded the stock from Neutral to Buy. The company said it views the sales price to be attractive for the company, which trades at a discount compared to its peers. — CNBC’s Darla Mercado, Fred Imbert and Lisa Han contributed reporting.
