Check out the companies making headlines in midday trading: Bank stocks — Major banks came under pressure during Monday’s session amid rising concerns about a potential slowdown in the U.S. economy. JPMorgan Chase and Citigroup fell roughly 4%. Goldman Sachs slid 5%, and Wells Fargo and Morgan Stanley dropped 6%. Bank of America shed nearly 4%. Robinhood — Shares of the financial services platform plunged nearly 20% on the heels of Finra saying on Friday that it has ordered Robinhood to pay $3.75 million in restitution to customers. The self-regulatory organization also fined Robinhood Financial and Robinhood Securities $26 million, alleging a failure to “establish and implement reasonable anti-money laundering programs,” among other issues. Crypto-related names — Bitcoin slid 4% in midday trading as investors fled speculative corners of the market. Stocks tied to cryptocurrencies also fell, with crypto exchange Coinbase losing 18% and bitcoin proxy Strategy shedding 17%. Redfin — The real estate company soared 68% after it announced that Rocket Companies will acquire the company in an all-stock deal valued at $1.75 billion . The deal is expected to close in the second or third quarter of 2025. Shares of Rocket Companies moved almost 15% lower following the announcement. Nvidia — Shares of the chipmaker dropped 5%, extending the megacap stock’s recent rout. After shares plunged more than 9% last week, Nvidia is down more than 20% in 2025. Chip plays — The VanEck Semiconductor ETF (SMH) slid close to 5% as investors sold out of last year’s high-flying chip names. Broadcom slipped 5 and ASML lost 7%. Taiwan Semiconductor Manufacturing tumbled 4%. Tesla — Elon Musk’s electric vehicle company saw shares dropping 15% to below $240 apiece, giving up its postelection gain. The EV maker has slid for seven straight weeks after Musk joined the Trump administration, its longest losing streak in its 15 years as a public company. The stock closed at $251.44 on Nov. 5, Election Day. Novo Nordisk — Shares slipped more than 9% after trial results for the Danish pharmaceutical company’s weight loss drug CagriSema showed the treatment resulted in a smaller impact for patients compared to previous tests. Palantir Technologies — The stock pulled back 10%, extending its underperformance in recent weeks. Over the past month, shares have fallen more than 32%. Cracker Barrel — Shares of the restaurant brand popped close to 4% after Truist Securities upgraded the company to buy. The firm said the restaurant chain’s recent results have led to increased confidence in Cracker Barrel’s turnaround efforts that do not appear reflected in its valuation. Oracle — Shares of cloud computing company fell 4% as trades linked to artificial intelligence came under pressure Monday. Oracle, which is set to report earnings after the closing bell, has now seen its stock fall more than 10% this year. Cognizant Technology — The IT stock gained 1% after The Wall Street Journal, citing people familiar with the matter, reported that activist investor Mantle Ridge has built a stake of more than $1 billion in the company and thinks its shares are undervalued. — CNBC’s Alex Harring, Brian Evans, Jesse Pound, Yun Li, Pia Singh, Michelle Fox and Darla Mercado contributed reporting. Correction: An earlier version misstated the amount of restitution Robinhood Financial was ordered to pay to customers. The firm was ordered to pay $3.75 million to customers, and Finra fined Robinhood Financial and Robinhood Securities $26 million for alleged violations.
Create an account
Welcome! Register for an account
A password will be e-mailed to you.
Password recovery
Recover your password
A password will be e-mailed to you.
