Midday Stock Movers: GameStop, 4D Pharma Rise; Adobe, Vicor Slide
By Sam Boughedda
Investing.com -- U.S. indices are down Wednesday, with the Nasdaq at -0.2%, S&P 500 down 0.4%, and the Dow at -0.7%. Here are the midday movers on Wednesday, March 23rd.
4D Pharma (NASDAQ:LBPS) has jumped 36% on positive results from its MRx0518/ Keytruda study which met its primary endpoints.
General Mills, Inc. (NYSE:GIS) is trading 2.8% higher after raising fiscal 2022 guidance on the back of increased prices and strong demand. The company's shares initially climbed more than 5% in the early part of the session.
GameStop Corp. (NYSE:GME), the original meme stock, is up 18.9% after Chairman Ryan Cohen purchased 100,000 shares through his RC Ventures business, taking his stake to approximately 11.9%.
Adobe Systems (NASDAQ:ADBE) is down 10% following its earnings report Tuesday after the close. While the company beat analyst earnings and revenue expectations, guidance disappointed.
Vicor Corporation (NASDAQ:VICR) is at -15% after CJS Securities downgraded the stock to Market Perform from Outperform on concerns regarding Nvidia's new datacenter AI processor. CJS said Nvidia is Vicor's largest customer, but pictures of the processor do not show any Vicor parts.
Worthington Industries, Inc. (NYSE:WOR) is trading at -13% after it reported earnings and revenue that beat expectations. However, weak margins and headwinds from steel price volatility has impacted the stock.
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