Stock Market Movers: Teva, Sanofi, Quantum Computing, SolarEdge, and Red Cat

📆 12/17/2024 5:39 PM
📰 CNBC

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BUSINESS News

STOCK MARKET,PHARMA,TECHNOLOGY

This article highlights the companies making significant moves in midday trading, including positive drug trial results, earnings reports, and contract wins.

Teva Pharmaceuticals and Sanofi saw their shares rise over 23% and 6% respectively after announcing positive Phase 2b results for their joint treatment of moderate to severe inflammatory bowel disease, duvakitug. Pfizer's shares traded around 4% higher following the company's 2025 revenue outlook aligning with Wall Street expectations. Quantum Computing stock soared over 38% to a new 52-week high after being awarded a prime contract by NASA's Goddard Space Flight Center.

SolarEdge Technologies saw its stock jump 21% following Goldman Sachs' upgrade to buy from sell. Red Cat's shares declined 12% after reporting a wider-than-expected fiscal second-quarter loss. Meanwhile, Nvidia and Broadcom's shares fell over 1% and nearly 5% respectively, following their differing performance in previous sessions.

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