Check out the companies making the biggest moves Friday at noon.
ford — Shares soared 6.24% after Ford and Tesla announced a partnership late Thursday that would give Ford owners access to more than 12,000 Tesla Superchargers in the U.S. and Canada. Teslashares rose 4.72%.
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marvel technology — Semiconductor stocks surged 32.42% after the company’s profits beat analyst estimates. Marvell Technology also expects revenue growth to accelerate in the second half of the fiscal year, with CEO Matt Murphy citing artificial intelligence as a “key growth driver.”
Ulta Beauty — The beauty retailer’s shares fell 13.37% after the company’s first quarter earnings report. Despite reporting higher profits and sales, the company’s share price fell on expectations of lower full-year operating margins.
Paramount — The media company’s share price rose 5.89% on the rise in Paramount’s majority-voting shareholder National Amusement. Announced $125 million Preferred equity investment by BDT Capital Partners. Loop Capital upgraded its rating on Paramount from sell to hold following the news. The Wall Street firm said that in a bullish case, financial pressure would force Paramount to find a buyer and shareholders would achieve a private market value.
gap — The apparel retailer’s shares rose 12.4% on Thursday, even though the company posted a net loss and declining sales in its most recent quarter on Thursday. Investors welcomed the significant improvement in Gap’s profit margins, which they attributed to reduced promotions and lower airfares.
working day — Shares rose 10.01% after first-quarter earnings and sales exceeded analyst expectations. Workday also raised the floor on its full-year subscription revenue outlook and named Zane Lowe as its new chief financial officer.
RH — Shares fell 3.07% as retailers’ second-quarter outlook fell short of analyst expectations. The company also warned of further price cuts. But RH beat its first-quarter adjusted earnings per share and revenue expectations when it reported results after the close of trading on Thursday, according to Refinitiv.
deckers outdoor — Deckers Outdoor jumped 3.37% after the footwear company behind the Ugg and HOKA shoes reported better-than-analyst-expected Q4 results. However, full-year earnings and sales guidance were lower than expected.
american express — The stock price rose 4.08%. Morgan Stanley said on Friday that the recent sell-off was “too much” and that shares are trading at their lowest levels in years, making it a good entry point for investors.
Nvidia — Semiconductor stocks surged 2.54% a day after jumping 24% after AI’s beloved company’s explosive earnings report. Friday’s rally brings Nvidia closer to a $1 trillion market cap.
monolithic power system, Arista Networks — It’s one of the stocks whose stocks have rallied on Nvidia’s earnings report and excitement over AI. Monolithic Power Systems rose 6.68% while Arista rose 9.06%. broadcom increased by 11.52%, NXP Semiconductors add 5.74%, Adobe 5.95% increase.
— CNBC’s Hakyung Kim, Yun Li, Tanaya Macheel, and Sarah Min contributed to the report.