Here are some companies that are making headlines in intraday trading. AI Infrastructure — Companies related to data centers fell following Democratic midterm election victories as traders braced for a slowdown in construction efforts. The iShares AI Innovation and Tech Active ETF (BAI) fell more than 2%. Comfort Systems and Vistra fell 17% and 13%, respectively. Memory stocks Micron and SanDisk fell 5% and 7%. Defense Stocks — Stocks of defense companies fell after Democrats swept Congress in the midterm elections. The iShares U.S. Aerospace and Defense ETF (ITA) fell more than 1%. Lockheed Martin fell 6%. Howmet Aerospace and Northrop Grumman each fell more than 4%. Trump Media & Technology Group — Shares of President Donald Trump’s social media and technology companies fell 11% after Democrats won decisive victories in the U.S. midterm elections Tuesday night. Trump owns 41% of the company, which also owns the social media platform TruthSocial. The Democratic Party, which has taken control of Congress, is tightening its checks on the president’s policies. Tesla, SpaceX — Shares of Elon Musk’s Tesla and SpaceX each fell 3%. The move came after Democrats won majorities in the House and Senate. Many of the newly elected candidates have criticized the rapid construction of data centers facilitated by artificial intelligence. SpaceX operates AI supercomputing infrastructure in Tennessee and Mississippi, and Tesla operates infrastructure in Texas. Neocloud stocks — Stocks of so-called neocloud companies fell, with CoreWeave down 9%, Iren down 11% and Nebius down about 6%. A Democratic victory in Texas and a national vote rejecting the data center initiative is expected to create hurdles for the data center effort. Trimble – This software company is down almost 18%. Trimble said it expects underlying annual recurring revenue growth to be approximately 10% in 2026, a downward revision from its previous forecast of a range of 12% to 14%. Fidelity National Information Services — The financial software stock fell 24% after the company cut its full-year revenue outlook. FIS expects adjusted earnings per share to be in the range of $5.82 to $5.89. The previous estimate of $6.15 per share was lowered to $6.24 per share. AppLovin — Shares rose more than 10% after the bell Wednesday as traders awaited the company’s third-quarter results. Analysts surveyed by FactSet expected AppLovin to report earnings of $4.03 per share and revenue of $2.075 billion. ClearSecure — The identity verification company soared 33% after raising its full-year free cash flow forecast. ClearSecure expects free cash flow to be at least $490 million, beating the FactSet consensus estimate of $482.9 million. Third-quarter results also exceeded TheStreet’s expectations. Consumer Discretionary Stocks — Cyclical stocks sold to consumers rallied after Booking Holdings Inc.’s better-than-expected results. Bookings were up 11% and Expedia was up 13%. Nike rose more than 6% and Amazon rose nearly 7%. Novo Nordisk — Shares rose more than 6% after the global healthcare company reported profit of 5.79 Danish kroner (about 63 cents per share), compared to Wall Street expectations of 5.10 kronor (about 55 cents). The company has revised upward its forecast for fiscal 2026, citing expectations for sales of GLP-1 products. McDonald’s — The fast-food restaurant chain reported mixed quarterly results and its stock rose 5%. Adjusted earnings were $3.57 per share, beating analysts’ estimates of $3.38 per LSEG. However, sales were $7.16 billion, lower than the consensus estimate of $7.29 billion. CVS Health — Shares fell more than 12% after the company announced it would split into two separate publicly traded companies by the first half of 2028. The move would reverse CVS’ $78 billion acquisition of Aetna and separate the company’s retail pharmacy business. Duolingo — The language learning software company reported third-quarter revenue of $309 million, soaring 32%. This exceeded LSEG’s consensus of $303 million. Monthly active users totaled 153 million in the quarter, higher than expectations of 149 million. Adjusted EBITDA margin also exceeded expectations. BLOCK — Fintech shares rose about 16% after Block reported better-than-expected third-quarter profit and revenue and raised its full-year guidance through December. Adjusted earnings per share were $1.13, beating the LSEG consensus estimate of $1.03, and revenue was $6.72 billion, beating the $6.59 billion consensus. Renewable Energy Stocks — Stock prices of renewable energy companies rose after Democrats took control of Congress. Sunrun and Plug Power each rose about 7%, while NextPower rose 15%. Datadog — The cloud monitoring company fell 14% after reporting third-quarter financial results. Both sales and final profit were strong, but the earnings outlook was weak. Datadog expects fourth-quarter revenue to be between $1.19 billion and $1.2 billion, compared to the consensus estimate of $1.2 billion. Kraft Heinz — The food and beverage maker rose 6%. Kraft Heinz announced that it will sell its North American coffee business to OneRock Capital Partners. The company also reported third-quarter adjusted earnings of 53 cents per share and revenue of $6.12 billion, beating expectations. Analysts polled by LSEG expected EPS of 42 cents and revenue of $6.09 billion. — CNBC’s Darla Mercado, Deena Zaidi, Paulina Ricos, Sara Ming, Davis Giangiulio, Ananya Chettiar, Fred Imbert, Scott Schnipper and Nick Wells contributed reporting.
