Check out the companies making headlines in midday trading: Spotify — The music streaming platform advanced 2% after Wells Fargo named it a top stock pick . Analyst Steven Cahall cited Spotify's rising profit margins, strong product mix and evolving record label relationships as catalysts while reiterating an outperform rating on the stock.
ON's adjusted earnings of 99 cents per share exceeded the 97 cents estimate by analysts polled by FactSet, while revenue of $1.76 billion was above the Street's $1.75 billion expectation. Nio — The Chinese electric vehicle maker jumped about 11% following Macquarie's upgrade to outperform from neutral . Analyst Eugene Hsiao sees accelerating volumes in the current quarter due to strong Onvo L60 orders.
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