Check out the companies making headlines in midday trading. Auto stocks — Major automobile manufacturers slipped following President Donald Trump’s plans to impose a 25% tariff on “all cars that are not made in the United States,” effective April 2. Shares of General Motors , Ford Motor and Stellantis respectively fell 6%, 2% and 1%. GameStop — The meme stock tumbled more than 17% Thursday, following an almost 12% rally the previous session. The reversal came after the video game chain announced plans to raise $1.3 billion through the sale of convertible senior notes due in 2030 to buy bitcoin. Jefferies Financial Group — Shares tumbled 10% after Jefferies reported fiscal first-quarter earnings of 57 cents on revenue of $1.59 billion. This marked a decline from the 69 cents per share in earnings and revenue of $1.74 billion in the year-ago period. Alibaba — U.S.-listed shares of the Chinese e-commerce stock jumped more than 3% after Alibaba launched its latest open-source AI model. The new model, “Qwen2.5-Omni-7B,” is a multimodal and can be used on edge devices, such as mobile phones. Verint Systems — The customer engagement platform provider tumbled 11% after posting weak fourth-quarter results and full-year guidance. Verint said it earned 99 cents per share, excluding items, on revenue of $254 million, missing expectations of analysts polled by LSEG for $1.27 in earnings per share and $277 million in revenue. Advanced Micro Devices — The technology stock slipped 3% after a downgrade at Jefferies to hold from buy, with the firm citing rising competition as a potential looming headwind moving forward. Liberty Energy — The energy stock popped nearly 6% following an upgrade to overweight from equal weight at Morgan Stanley. Analyst Daniel Katz said that investors could use Liberty Energy to gain exposure to the data center and power demand growth theme. Petco Health & Wellness — Shares surged 34% after the pet supplies retailer said it expects its full-year adjusted earnings before interest, taxes, depreciation, and amortization to come in between $375 million to $390 million, topping FactSet consensus estimates for $371.0 million. Cava — The Mediterranean fast-casual chain added 4%. Cava is set to replace Altair Engineering in the S & P MidCap 400, effective Mar. 31. Winnebago Industries — The motorhome manufacturer popped 5% after reporting fiscal second-quarter adjusted earnings of 19 cents, beating the 13 cents per share expected by analysts polled by FactSet. On the other hand, the company lowered its full-year outlook. Soleno Therapeutics — The biotech company soared 43% after announcing the U.S. Food and Drug Administration’s approval of VYKAT XR, which treats hyperphagia in patients 4 years and older with Prader-Willi Syndrome. Hyperphagia is the extreme and overwhelming sense of hunger commonly associated with patients suffering from the genetic disorder. Concentrix — The business tech stock surged 37%. Concentrix posted top and bottom line beats in the fiscal first quarter. Concentrix posted adjusted earnings of $2.79 per share on revenue of $2.37 billion, while analysts had expected earnings of $2.58 per share and revenue of $2.36 billion, per FactSet. TD Synnex — Shares plummeted 14% after the IT company reported a fiscal first-quarter earnings and revenue miss. TD Synnex also guided for second-quarter earnings and revenue below analyst expectations, according to FactSet. Kyndryl — Shares dropped more than 10% after short seller Gotham City Research alleged an issue with IBM costs , among other concerns for the IT infrastructure services provider. Bausch + Lomb — Shares dropped about 10% after the eye health company announced a voluntary recall of its intraocular lenses. — CNBC’s Brian Evans, Alex Harring, Hakyung Kim, Yun Li and Sarah Min 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!
