Check out the companies making headlines in midday trading. Advanced Micro Devices — The chipmaker’s stock popped 7%, a day after the company unveiled its new artificial intelligence chips poised to challenge Nvidia’s dominance. Nvidia shares added about 1%. Meta Platforms and Microsoft have already said they would buy AMD’s chip as an alternative. Alphabet — The Google parent’s stock rallied more than 5%, a day after the company unveiled its latest and most powerful AI model known as Gemini. The product will be used to power Google’s products such as its Bard chatbot. Sprinklr — Shares plunged about 30% on the back of the company’s quarterly earnings announcement. Despite posting better-than-expected results for the 2024 fiscal third quarter on Wednesday, management forecast a deceleration in sales growth in the 2025 fiscal year. BTIG downgraded shares to neutral from buy following the release. AbbVie — AbbVie shares added 1% a day after the pharmaceutical company said it would a cquire neuroscience drugmaker Cerevel Therapeutics for $8.7 billion, or $45 a share. The company expects the acquisition to go through in the middle of next year. Cerevel’s stock popped more than 12%. Chewy — The pet products e-commerce stock slumped more than 3% a day after Chewy reported disappointing quarterly results and guidance. Revenue fell slightly short of expectations, and Chewy posted a wider-than-expected loss by 2 cents. Net sales guidance for the fourth quarter also came up short of the $2.93 billion expected, per LSEG, formerly known as Refinitiv. GameStop — GameStop shares were last up nearly 2% a day after the video game retailer reported third-quarter results. The company posted a 1 cent loss per share on revenue of $1.08 billion. It was unclear if that was comparable to LSEG estimates. JetBlue — JetBlue shares soared more than 13% after the airline boosted its guidance due to strong travel demand. The company expects revenue to fall between 7% and 4%…
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