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LivestreamMenuHere are the companies making headlines in midday trading. Alnylam Pharmaceuticals – Shares advanced 4% after Alnylam announced a strategic artificial intelligence collaboration with Inceptive Nucleics, valued at up to $2 billion. In the partnership Alnylam plans to use Inceptive’s generative AI models to aid its discovery of RNA interference therapeutics. Blackstone – The asset manager jumped 8% as investors seemed to shake off news that the firm is limiting withdrawals from the Blackstone Private Credit fund after a pickup in investor redemption requests. The stock is now on track to snap a three-day string of losses. Fellow asset managers Ares Management and KKR each saw shares gain 6% in sympathy. Humana – Shares of the health insurer rose more than 6%. Morgan Stanley raised its price target on Humana to $249 per share, suggesting roughly 24% downside from Wednesday’s close. Still, that compares to an anticipated decline of nearly 34% based on the earlier price target of $217 a share. Morgan Stanley stuck with its underweight rating on shares. Broadcom — Shares tumbled nearly 15% after the chipmaker reported fiscal second-quarter revenue of $22.19 billion, short of the $22.27 billion expected from analysts polled by LSEG. Broadcom CEO Hock Tan reiterated the company’s fiscal year 2027 revenue guidance for AI chips to be “in excess of $100 billion.” Semiconductor stocks — Shares of artificial-intelligence semiconductor companies slid following Broadcom’s results. Micron Technology slipped almost 7%. Intel shed 2% and Advanced Micro Devices lost 4%. Arm Holdings was last down almost 5%. Five Below — The discount retailer fell 13%, as the company provided a better-than-expected outlook. Second-quarter revenue is expected to range from $1.18 billion to $1.2 billion, versus the StreetAccount estimate of $1.15 billion. Same-store sales for the period are expected to grow 7% to 9%, versus 4.4% consensus. Petco — Shares of the pet retailer dropped roughly 8% after Petco’s current-quarter forecast came in shy of Wall Street’s expectations. Petco sees second-quarter adjusted EBITDA ranging from $110 million to $112 million. The consensus sought EBITDA of $115 million, per StreetAccount. CrowdStrike — The cybersecurity company lost 6% on lackluster second-quarter guidance. CrowdStrike sees Q2 revenue around $1.44 billion, just above a StreetAccount estimate of $1.3 billion. It also expects adjusted earnings per share of $1.16 per share to $1.17 per share. Analysts expected a forecast of around $1.16 per share. Shares of Palo Alto Networks traded lower in sympathy. PVH — The Tommy Hilfiger and Calvin Klein parent plunged 20% after it reiterated its full-year earnings guidance. The company also posted a Q1 earnings beat, but revenue was about in line with expectations. UnitedHealth — The health insurer climbed 5% following an upgrade at Bank of America to buy from neutral. The bank said improving medical cost trends and supportive near-term data points set up favorable second-quarter earnings. Medtronic — The medical technology company advanced 4%. BTIG upgraded shares to buy from neutral following Medtronic’s earnings beat Wednesday. The firm said it sees an attractive top-line set up for the company, which is trading at a discount to peers. — CNBC’s Darla Mercado, Fred Imbert and Lisa Han contributed reporting.
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