Check out the companies making headlines in midday trading. eBay – Shares jumped 9.7% and touched 52-week highs after announcing that Meta is testing using its listings on Facebook Marketplace . Buyers from Facebook will be redirected to eBay to complete transactions. The gain put the stock on track for its best day since late 2022. Edison International – The stock lost more than 10.5%, as thousands flee the Los Angeles area due to wildfires destroying homes and infrastructure in the region. The decline put the California-based utility on track for its worst trading day since March 2020. Getty Images – Shares of the image database plunged 21%, reversing course after soaring more than 24% in the previous session. On Tuesday, Getty announced a $3.7 billion merger with Shutterstock . Shutterstock shares tumbled about 12% on Wednesday after gaining 14.8% in the previous session. SolarEdge Technologies – Shares moved 11.7% lower following Citi’s downgrade to sell from neutral. The bank said the company faces “stubbornly high” operating expenses despite restructuring efforts. The stock advanced more than 6% and about 8% on Monday and Tuesday, respectively, after SolarEdge disclosed in a SEC filing that it would cut 400 jobs. Quantum computing stocks – Stocks tied to quantum computing fell after Nvidia CEO Jensen Huang said the technology is likely decades away . Shares of Rigetti Computing and D-Wave Quantum shed more than 45% each, while Quantum Computing dropped 49%. IonQ slid 45%. Maplebear – The grocery delivery company, which does business as Instacart, jumped more than 4% ahead of its inclusion in the S & P MidCap 400 index , effective before the bell on Jan. 14. Maplebear is set to replace Enovis in the index. AAR Corp – Shares of the aviation services provider gained 9% on the back of an earnings and revenue beat for its fiscal second quarter. For the period, AAR posted adjusted earnings of 90 cents per share on revenue of $686.1 million. Analysts polled by FactSet were expecting 85 cents per share and $654.2 million in revenue. Palantir Technologies – Shares shed more than 4%, building on their early 2025 slump. The stock kicked off the week by falling about 5% after Morgan Stanley assumed coverage with an underweight rating , pointing to a risk-reward profile that’s skewed to the downside. Also earlier this week, Cathie Wood sold more than $15 million worth of the software company’s shares across all of her Ark funds. Week to date, the stock has fallen around 15%. Arcadium Lithium – Shares jumped more than 8% after the company said it received clearance from the Committee on Foreign Investment in the United States (CFIUS) for its proposed acquisition by Rio Tinto . Arcadium Lithium expects the transaction to close before mid-2025. Boston Scientific – The stock gained more than 4% on the heels of its announcement that it’s agreed to acquire Bolt Medical . Boston Scientific said it expects the deal to be completed in the first half of this year. Advanced Micro Devices – The stock lost more than 5% after receiving a downgrade to reduce from buy at HSBC, which said that the chipmaker’s AI roadmap is less competitive than previously thought. Cal-Maine Foods – The egg producer rose more than 2% following its latest quarterly results . Cal-Maine Foods earned $4.47 per share and $954.7 million in revenue, with the latter figure marking an 82% increase from the same period a year ago. Shell – The energy giant fell more than 2% after it trimmed its fourth-quarter liquified natural gas production outlook and said that it expects its oil and gas trading results to come in “significantly lower” than in the third quarter. Novo Nordisk – Shares popped nearly 2% after UBS upgraded the pharmaceutical giant to a buy rating from neutral. “Novo remains the most exciting growth story in European pharma and is well placed to continue to benefit from the high demand for GLP-1 medications near-term,” the bank wrote. Shares of Novo Nordisk plunged 40% over the past six months and ended 2024 with a 17% decline. Accolade – The stock surged more than 104% following the announcement that the company is being acquired by Transcarent for $7.03 per share in cash, representing a total equity value of around $621 million. The deal is expected to close during the second quarter of 2025. — CNBC’s Fred Imbert, Alex Harring, Samantha Subin and Lisa Kailai Han contributed reporting.
Check out the companies making headlines in midday trading: T-Mobile — Shares pulled back 11% after the company’s wireless subscribers for the first quarter missed Wall Street estimates. T-Mobile reported 495,000 postpaid phone additions in the first-quarter, while analysts polled by StreetAccount were looking for 504,000. Alphabet — The Google parent company gained about 2% on the heels of better-than-expected first-quarter results . Alphabet reported $2.81 per share on revenue of $90.23 billion, while analysts polled by LSEG forecast $2.01 in earnings per share and $89.12 billion in revenue. Skechers — Shares fell 4.8% after the footwear maker posted weaker-than-expected revenue for the first quarter and withdrew its 2025 guidance due to ” macroeconomic uncertainty stemming from global trade policies .” The company’s earnings for the quarter came in above analysts’ estimates, however. Gilead Sciences — The biopharmaceutical stock fell 2.5% after first-quarter revenue came in at $6.67 billion, missing the consensus forecast of $6.81 billion from analysts polled by LSEG. However, the company earned $1.81 per share, excluding items, in the quarter, beating Wall Street’s estimate of $1.79 a share. Saia — Shares of the shipping company fell 31% after first-quarter results missed estimates and showed a slowdown in March. Saia reported $1.86 in earnings per share on $787.6 million in revenue. Analysts surveyed by FactSet were expecting $2.76 in earnings per share on $812.8 million in revenue. BMO Capital Markets downgraded the stock to market perform from outperform and said the issues were “company specific.” Intel — The chipmaker declined 7% after Intel’s current quarter missed investors’ expectations. Intel forecast revenue in the June quarter of $11.8 billion at the midpoint, while consensus forecasts called for $12.82 billion, per LSEG. Management anticipates earnings will break even. Intel also announced plans to reduce both its operational and capital expenses. Boston Beer — Shares of the Samuel Adams brewer were more than 1% higher after better-than-expected first-quarter results. Boston Beer notched earnings per share of $2.16 on revenue of $453.9 million, while analysts polled by FactSet were looking for 56 cents per share on revenue of $435.6 million. Boston Beer cautioned that tariffs could hurt full-year earnings. Tesla — The Elon Musk-helmed electric vehicle company surged 10%. Shares have advanced more than 17% this week as the broader market tries to recover from a steep sell-off for much of April. — CNBC’s Jesse Pound, Alex Harring and Sean Conlon contributed reporting. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
Check out the companies making headlines before the bell: Meta Platforms — The Facebook and Instagram parent jumped about 3%. Meta cut staff in its Reality Labs division, CNBC reported. Alphabet — The Google and YouTube owner climbed more than 4% after first-quarter results topped Wall Street expectations. Alphabet earned $2.81 per share on $90.23 billion in revenue for the quarter, while analysts surveyed by LSEG had estimated $2.01 per share and $89.12 billion in revenue. T-Mobile — Shares of the telecommunications company fell 5.5% after it reported fewer first-quarter wireless phone subscribers than the Street expected, seeing 495,000 postpaid phone additions versus analysts’ call for 504,000, according to StreetAccount. Earnings and revenue for the first quarter topped Street estimates. Intel — The chipmaker fell 7.2% after the outlook for the current quarter disappointed investors. Intel guided for revenue in the June quarter to come in at $11.8 billion at the midpoint, less than consensus calls for $12.82 billion, according to LSEG. Management anticipates earnings will break even. Intel also announced plans to reduce its operational and capital expenses. Gilead Sciences — The biopharmaceutical stock slid 3.9% after posting first-quarter revenue of $6.67 billion, missing the consensus estimate of $6.81 billion from analysts polled by LSEG. Gilead earned $1.81 per share, excluding items, in the quarter, while Wall Street penciled in $1.79. Skechers — The footwear maker slumped 6% after reporting lower-than-expected first-quarter revenue and withdrew its 2025 forward financial forecasts on account of ” macroeconomic uncertainty stemming from global trade policies .” Skechers’ bottom-line results came in above analysts’ forecasts. Charles Schwab — The financial services provider advanced 1.4% after Goldman Sachs upgraded shares to buy from neutral, calling Schwab a resilient growth stock amid an uncertain backdrop. Hasbro — The toy company rose about 1% one day after soaring 15%. Citigroup raised its investment opinion to buy from neutral, saying Hasbro’s stronger-than-expected Wizards of the Coast business outweighs any uncertainty stemming from tariff policy, according to analyst James Hardiman. Boston Beer — Shares of the Samuel Adams brewer rose nearly 3% after first-quarter results beat expectations. Boston Beer generated $2.16 in earnings per share on $453.9 million of revenue, while analysts surveyed by FactSet looked for 56 cents per share on $435.6 million in revenue. Boston Beer warned in its outlook that tariffs could hurt full-year earnings. — CNBC’s Alex Harring and Jesse Pound contributed reporting. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
“I think having that professionally managed portfolio is really beneficial to clients,” Coyne told CNBC’s “ETF Edge” this week. “We’re seeing just… greater volatility [and] uncertainty across both the equity and fixed income markets.“
According to Coyne, the T. Rowe Price Capital Appreciation Equity ETF suits investors who are looking for long-term growth.
“The objective of the fund is to outperform the S&P 500 with lower volatility and greater tax efficiency,” he said. “It’s also a more concentrated portfolio, typically holding around a hundred names.”
The T. Rowe Price Capital Appreciation Equity ETF is down about 5% so far this year while the S&P 500 is off about 7% However, the ETF is up close to 8% over the past year — roughly identical to the S&P 500’s performance.
Coyne notes the T. Rowe Price U.S. Equity Research ETF follows a similar strategy, but with a heavier weighting in top tech stocks.
“This is more of a large-cap growth product [T Rowe Price U.S. Equity Research ETF],” he said. “There are components of characteristics of both passive and active here. This fund is actually managed by our North American directors of research. So again, strong fundamental research is going into the stock selection.”
Both the T. Rowe Price U.S. Equity Research ETF and S&P 500 are down around 7% since the beginning of the year. Meanwhile, the fund is up almost 9% over the past year. That’s less than one percent better than the S&P 500’s performance.
T. Rowe Price U.S. Equity Research ETF vs. S&P 500
‘Some form of bear market’
Strategas Securities’ Todd Sohn thinks investment demand for active managers will continue to be strong.
“This is the type of the environment where it [active management] can actually shine,” the firm’s senior ETF and technical strategist said. “We are in some form of bear market. This is where the active manager really can come into hand and offer their solution they are doing right.”