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ChargePoint Holdings, Seagate Technology, C3.ai, and More: Midday Stocks on the Move

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Midday Trading Update: Stocks in Focus

Here are the companies making headlines in midday trading:


WestRock's stock gained 5% following news of its potential merger with Europe's Smurfit Kappa. The deal, if successful, could create a global paper and packaging giant worth approximately $20 billion.


GameStop's shares dipped 1% despite surpassing Wall Street estimates for quarterly revenue and reporting a smaller-than-expected loss. The strong revenue was attributed to a significant software release.


Semiconductor stocks experienced a decline, with Lam Research and Advanced Micro Devices falling over 3% and 2%, respectively. Qualcomm saw a drop of more than 6%, while Nvidia declined over 2%. However, Intel's shares rose 2%, bucking the downward trend.


Apple slid over 3.4% following a Bloomberg News report that China plans to expand restrictions on iPhones for state-owned companies. This comes after previous reports of China planning to ban iPhone use in government-backed agencies.

Align Technology

Align Technology, an orthodontics company, saw its stock drop over 7% after announcing its acquisition of 3D printing company Cubicure in a 79 million euro transaction (approximately $84.6 million).


Rollins' shares declined over 6% after the pest control services company announced a proposed secondary public offering of $1.35 billion of its common stock.

Seagate Technology

Seagate Technology's shares dropped approximately 8% after Barclays downgraded the stock due to poor fundamentals and a longer-than-expected recovery.

ChargePoint Holdings

Shares of ChargePoint Holdings plunged 13% after the electric vehicle charging infrastructure company missed revenue estimates for the fiscal second quarter. The company announced it would also be reducing its global workforce by about 10%.

Dutch Bros

Dutch Bros' shares slid around 3.4% following the drive-through coffee chain's announcement of a public offering of $300 million in shares of its Class A common stock.

Dave & Buster's Entertainment

Dave & Buster's Entertainment's stock dropped over 4% after reporting second-quarter results that fell short of expectations. The entertainment and dining company earned 60 cents per share on $542 million of revenue, missing analysts' anticipated per-share earnings of 93 cents on revenue of $559 million.


C3.ai shares tumbled 13% after the artificial intelligence software company projected a wider-than-expected operating loss for the fiscal second quarter. Analysts had anticipated a smaller loss, and C3.ai reported an adjusted fiscal first-quarter loss that was better than expected.


Roku's streaming stock slid 2% following a downgrade to hold from buy by Loop Capital. The company had recently announced plans to lay off 10% of its staff and implemented cost-cutting measures, which initially led to a rally in its stock.

Verint Systems

Shares of Verint Systems plunged 16% after the analytics company reported weaker-than-expected second-quarter earnings and revenue. Analysts had anticipated higher per-share earnings and revenue figures. In conclusion, these midday trading updates highlight the performance of various stocks in the market. Investors should closely monitor these developments and consider the potential implications for their investment portfolios.

Conclusion: Implications for New Businesses

These midday trading updates offer a 'hot take' for new businesses, especially those seeking to understand the dynamics of the stock market.

Market Trends and Business Decisions

The fluctuation in stocks, such as WestRock's rise on merger news or Apple's fall due to potential restrictions, underscores how business decisions and external factors can significantly impact stock performance.
Investment Opportunities and Risks
The performance of different sectors, like the decline in semiconductor stocks or the dip in GameStop shares despite strong revenue, highlights the potential opportunities and risks in the market. New businesses looking to invest should consider these trends.
Impact of Financial Performance
The stock performance of companies like C3.ai and Verint Systems, which reported weaker-than-expected earnings, emphasizes the importance of financial performance on stock value. In conclusion, these midday trading updates provide valuable insights for new businesses. They highlight the impact of business decisions, external factors, and financial performance on stock values, offering potential lessons for businesses as they navigate their financial journey. As they monitor these developments, new businesses can gain a better understanding of the market dynamics and make informed decisions.
Story First Published at: https://www.cnbc.com/2023/09/07/stocks-making-the-biggest-moves-midday-chargepoint-holdings-seagate-technology-c3ai-and-more-.html
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