Stocks making the biggest moves midday: MP Materials, Alibaba, Protagonist Therapeutics & more
Check out the companies making the biggest moves midday: Rare earth stocks — The group rose broadly after President Donald Trump said China was holding the world “captive” over the minerals, threatening countermeasures. MP Materials traded 13% higher along with USA Rare Earth . Magnificent Seven — Megacap tech stocks tumbled Friday after Donald Trump threatened a “massive” tariff hike against China. each of the Magnificent Seven stocks were down more than 1%. Amazon tumbled more than 3%, Nvidia fell 1.5%, while Apple slipped 2%. China stocks — Shares of Chines companies traded in the U.S. fell broadly after Trump’s threat against China. Alibaba and Baidu fell more than 6% each. PDD Holdings shed 4%. Rocket Lab — The space company’s stock jumped more than 4% after it secured contracts for multiple launches with the Japan Aerospace Exploration Agency. The stock has risen more than 23% so far this week. Protagonist Therapeutics — The pharma stock rallied 34% after The Wall Street Journal reported, citing sources, that Johnson & Johnson was in talks to buy Protagonist. Applied Digital — Shares surged 19% after the datacenter builder reported that revenue in its fiscal first quarter was up 84% from the comparable period in the prior year. Doximity — The medical digital platform saw shares tumbling 7% after JPMorgan downgraded the stock to underweight from neutral. The Wall Street firm noted valuation concerns, a competitive landscape and risks to ad spending on digital pharma products. Mosaic — The chemical stock dropped more than 9% after the firm reported disappointing preliminary third-quarter volumes. Mosaic said it experienced unexpected mechanical issues at the Riverview sulfuric acid plant and utility interruptions at Bartow in mid-September, which caused a meaningful decline in overall production for the remainder of the month. Levi Strauss — The denim apparel maker fell more than 11% after it issued weaker-than-expected earnings guidance for the fourth quarter. Levi Strauss sees Q4 earnings in a range of 36 cents per share to 38 cents per share. Analysts polled by FactSet had penciled in a forecast for 41 cents per share. — CNBC’s Christina Cheddar-Berk, Yun Li, Alex Harring and Sarah Min contributed reporting.
