Stocks making the biggest midday moves: Bloom Energy, Catalent, Occidental Petroleum & more

Bloom Energy: Clean Energy Stock Surges 5.1% Following JPMorgan's Upgrade

Bloom Energy experienced a notable 5.1% increase in its stock price after JPMorgan upgraded its rating from neutral to overweight. The prominent bank identified a buying opportunity for investors, emphasizing this perspective following a recent market selloff.

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Foot Locker: Footwear Retailer Plummets 25.7% on Fiscal First-Quarter Miss

Foot Locker, the renowned footwear retailer, witnessed a substantial decline of 25.7% in its stock value after failing to meet both top and bottom line expectations during the fiscal first quarter. The company also adjusted its full-year outlook due to a challenging macroeconomic environment. Consequently, Dick's Sporting Goods followed suit and experienced a 6.5% decrease.

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Occidental Petroleum: Houston-Based Producer Rises as Berkshire Hathaway Boosts Stake

Shares of Occidental Petroleum, the Houston-based oil and gas producer, saw an increase of nearly 2%. This rise can be attributed to Warren Buffett's Berkshire Hathaway purchasing additional shares over the course of the past six trading days, thereby elevating its stake to 24.4%. It is worth noting that Buffett has clarified his intention not to assume complete control of Occidental.

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Disney: Media Conglomerate Slips 2% after Macquarie Research Downgrades Rating

Disney encountered a midday decline of nearly 2% following Macquarie Research's decision to downgrade its shares from outperform to neutral. Macquarie expressed appreciation for Disney's ongoing successful transformation into a direct-to-consumer (DTC)-focused streaming business, but cited prevailing interim uncertainties as the basis for the downgrade.

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Catalent: Drug Maker Surges 14.4% on Positive Business Update

Catalent, the pharmaceutical company, experienced a significant midday surge of 14.4% in its stock value subsequent to a positive business update. During a conference call, CEO Alessandro Maselli conveyed the company's confidence in adequately meeting customer demand. This reassurance comes in light of challenges faced at various production sites earlier this year.

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Farfetch: E-Commerce Company Climbs 17.6% on Revenue Beat

Farfetch, the prominent e-commerce company, observed an impressive midday surge of 17.6% after reporting revenue that exceeded analysts' expectations for the first quarter. Farfetch recorded $556 million in revenue, surpassing Refinitiv's forecast of $513 million.

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Western Alliance and PacWest: Regional Banks Retreat by Over 4% Each

Shares of Western Alliance and PacWest, two regional banks, experienced individual declines of over 4% each, relinquishing a portion of the significant gains they had achieved earlier in the week. Despite these losses, both banks maintain a substantial increase of more than 20% overall.

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