Check out the companies making headlines in midday trading. Cleanspark — Shares of the cryptocurrency mining company fell more than 13%. Cleanspark released its mining update for August, which showed it mined 478 bitcoins last month. That marks a drop from 494 in July and 659 in August of last year. Vaxcyte — Shares recently rose about 36% and earlier hit a record high after the vaccine company reported positive Phase 1/2 study results for its 31-valent pneumococcal conjugate vaccine candidate. The drug is intended to prevent invasive pneumococcal disease in adults 50 and older. Leerink Partners said the results were “impressive” and they expect the vaccine candidate’s profile to be a “category killer.” Unity Software – Shares of the video game maker rose about 6% after Morgan Stanley upgraded its rating on the stock to overweight from equal, saying the company’s stock is now derisked and noting Unity’s position as “the clear gaming engine.” Boeing – Shares of the aircraft maker fell 8% following a downgrade by Wells Fargo to underweight from equal. The bank said it sees Boeing’s free cash flow per share peaking in 2027. Tuesday’s drop put Boeing on track for its biggest one-day loss since Oct. 26, 2022. Redfin – Shares of the real estate brokerage rose about 5% after a B. Riley Securities upgrade to buy from neutral. The investment firm said Redfin’s internal improvements plus the likelihood of lower interest rates should help the company return to growth and improve margins in 2025. Semiconductor Stocks – Shares of some of the largest chipmakers fell during the first trading session of the month. KLA and Nvidia led the decline, both falling about 7%. Micron Technology and Taiwan Semiconductor Manufacturing each fell about 6%, while Broadcom and Advanced Micro Devices were down about 5%. Super Micro Computer – Shares rose about 2% after CEO Charles Liang sent a letter to customers and partners calling Hindenburg Research’s report “misleading.” He also said the delayed filing with the Securities and Exchange Commission will have “no material change to our fourth quarter or fiscal 2024 financial results.” Last week, the stock fell 19% on news of its delayed filing and Hindenburg’s disclosed short position. Hindenburg said in its report that it identified “new evidence of accounting manipulation.” United States Steel — Shares fell more than 5% after Vice President Kamala Harris opposed the planned sale of US Steel to Japan’s Nippon Steel at a Labor Day rally for union members in Pittsburgh. In her remarks, Harris said US Steel was “a historic American company and it is vital to our country to maintain strong American steel companies.” — CNBC’s Lisa Kailai Han, Pia Singh, Jesse Pound, Fred Imbert and Michelle Fox contributed reporting.
