MOVING UP

GAP surged 5% after an upgrade to Overweight from Neutral by JP Morgan, with a new price target of $30. They revised their FY25 EPS to $2.30 and FY26 EPS to $2.53, expecting revenue growth and margin expansion.

INTC rose 2% on CEO Pat Gelsinger’s retirement announcement. David Zinsner and Michelle Johnston Holthaus are appointed interim Co-CEOs, with Frank Yeary as Interim Executive Chair while a permanent successor is sought.

NBIS soared 16% after securing $700M through a private placement involving NVDA, planning to issue 33.33M Class A shares at $21/share.

NVCR jumped 30% following successful trial results where its cancer therapy, combined with chemotherapy, extended pancreatic cancer patient survival from 14.16 to 16.20 months on average.

PTCT climbed 14% after licensing its experimental Huntington’s Disease drug, PTC518, to a Novartis unit for up to $2.9B, with $1B upfront.

SMCI increased 14% after confirming no need to restate financials, with no evidence of shipping incomplete products to boost quarterly revenue.

TNDM went up 6% after an upgrade to Overweight from Equal Weight by Morgan Stanley, with a $45 price target, citing undervalued stock and potential in type-2 diabetes market expansion.

TSLA gained 2% with Stifel maintaining its Buy rating, raising the target to $411, praising Tesla’s broader market vision beyond just being an automaker. Additionally, Roth MKM upgraded TSLA to Buy, setting a $380 target, highlighting potential catalysts for value increase.

MOVING DOWN

CORZ drops 5% on news of a $500M convertible senior notes offer for 2031.

NU falls 5%, hit by Citigroup’s downgrade to Sell, citing profit-taking despite strong growth in Brazil.

PCG slides 5% after announcing $2.4B in stock offerings.

STLA tumbles 8% following CEO Carlos Tavares’ sudden resignation after nearly four years.

UPST plunges 11%, downgraded to Underweight at JP Morgan, with caution advised on fintech at current valuations