Stocks making the biggest moves midday: Shutterstock, Newell Brands, Zillow and more
Check out the companies making headlines in midday trading.
Shutterstock — Shares of the stock image, video and music provider jumped 10% after Shutterstock announced a six-year, expanded partnership with OpenAI, the maker of ChatGPT.
Newell Brands — Shares of the consumer goods company jumped more than 10% after Canaccord initiated its coverage with a buy rating. The Wall Street firm said better days are ahead with new management at the helm, and it also expects modest top-line growth, improve profitability and cash flows and reduce leverage at the company.
Zillow — Zillow popped nearly 11% after Piper Sandler upgraded the real estate stock to an overweight rating, saying that new initiatives and improvement in the housing market could help boost shares more than 30%.
Salesforce — Shares gained more than 2% after the software company announced it would hike prices across its cloud-based offerings starting in August.
WD-40 — WD-40 shares popped more than 15% on strong fiscal third-quarter results. The company said that total net sales rose 15% from a year ago and issued better-than-expected guidance.
3M — 3M added 3.5% on the back of an upgrade to hold from underperform by Bank of America. The firm said litigation settlements, restructuring and the planned spin-off for the health care business could all help the stock going forward.
Amazon — The stock added about 1% as the e-commerce giant kicked off its two-day Prime Day summer sale. Wells Fargo also named Amazon a top pick, citing better expectations for Amazon Web Services, Prime Day revenue growth and a positive risk-reward heading into earnings.
JetBlue Airways — The airline stock lost nearly 2% after Evercore ISI downgraded shares to underweight, citing valuation
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