SolarEdge Technologies stock dropped 6% after Citi downgraded the company to sell from neutral, citing 'stubbornly high' operating expenses despite restructuring efforts. Shares had jumped 6.6% and 8% on Monday and Tuesday following SolarEdge's announcement of 400 job cuts. Novo Nordisk rose more than 3% following an upgrade to buy from neutral at UBS, which highlighted the company's growth potential in the GLP-1 medication market.
Advanced Micro Devices shares slid 3% after HSBC downgraded the technology manufacturer to a reduce rating from buy, citing a less competitive AI GPU roadmap. Carvana climbed 2% following an upgrade to buy from neutral at Citi, with analyst Ronald Josey pointing to the company's efficient inventory ramp to meet demand. Maplebear shares surged nearly 5% ahead of its inclusion in the S&P MidCap 400 index. Shell dropped 3% after lowering its fourth-quarter LNG production outlook and expecting weaker oil and gas trading results. Cal-Maine Foods climbed nearly 5% following strong fiscal second-quarter earnings, reporting $4.47 per share and an 82% revenue increase. AAR Corp added almost 4% after beating fiscal second-quarter earnings expectations
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