Stocks making the biggest moves midday: Tesla, Trump Media, Amazon, Rivian Automotive and more
Check out the companies making headlines in midday trading: Tesla — Shares jumped more than 5%. Politico , citing three Trump insiders, reported President Donald Trump told members of his inner circle that Tesla CEO Elon Musk could leave his current role in the coming weeks. Later, the White House called the report “garbage,” but NBC News confirmed Politico’s reporting. Amazon — Shares of the e-commerce and cloud giant popped more than 2%. The New York Times , citing three people familiar, reported that Amazon has put in a bid to acquire TikTok. The video app is staring down an April 5 deadline to part with its Chinese owner or face a ban in the U.S. Rivian Automotive — Shares of the electric vehicle maker slid more than 5%. Rivian said it delivered 8,640 vehicles for the first quarter , marking a 36% drop in deliveries compared to a year ago. However, that figure exceeded the consensus estimate of 8,200, per Visible Alpha. nCino — The cloud banking firm’s stock pulled back more than 20% after nCino reported weaker-than-expected fourth-quarter earnings and soft guidance for the first quarter and full year. For the fourth quarter, nCino posted adjusted earnings of 12 cents per share, below the 19 cents per share that analysts polled by FactSet were expecting. The stock tumbled more than 30% in the premarket, which KBW said was ” overdone .” BlackBerry — The software and communications stock tumbled 6%. BlackBerry guided for fiscal first-quarter revenue of between $107 million and $115 million, lower than the $124.6 million analysts had expected, per FactSet. However, both BlackBerry’s fourth-quarter adjusted earnings and revenue exceeded consensus estimates. Newsmax — The stock sank more than 45%, giving up some of the big gains it reaped following its debut on the New York Stock Exchange on Monday. The conservative cable news network surged 179% in the previous session and 700% on its first official trading day. Trump Media & Technology Group — Shares dropped 5% after Trump Media in a securities filing disclosed the possibility of a significant stock sale , including by insider shareholders such as the president’s trust. Petco — Shares of the pet goods retailer soared about 15% after CEO Joel Anderson purchased almost 1.6 million shares, according to a recent filing with the U.S. Securities and Exchange Commission. CoreWeave — The stock rose more than 8%, extending its recent gains. On Tuesday, shares of the Nvidia-backed cloud computing company climbed nearly 42% . The recent advances follow a rocky debut for CoreWeave late last week. Nvidia — The chipmaker added roughly 1% ahead of the April 2 tariff announcement. Nvidia CEO Jensen Huang recently downplayed any negative effects from U.S. tariffs. The company’s chips are mostly made in Taiwan, but some of its systems are manufactured in other countries, such as Mexico and the U.S. Scotts Miracle-Gro — The lawn care stock jumped nearly 5% on the heels of Truist’s upgrade to buy from hold . Truist said the stock can benefit as economic uncertainty pushes consumers to shift spending from travel to the home. — CNBC’s Sarah Min, Alex Harring, Lisa Kailai Han and Michelle Fox contributed reporting.
