Check out the companies making headlines in midday trading. GameStop — GameStop shed nearly 15% after the video game retailer reported lower fourth-quarter revenue from a year ago. The company also said it axed an unspecified number of roles to trim costs. Merck — Merck jumped 4% after the Food and Drug Administration on Tuesday approved its drug to treat a life-threatening lung condition. Carnival — Shares slipped 2% after the cruise operator reported first-quarter revenue of $5.41 billion, below the $5.43 billion expected from analysts polled by LSEG. However, Carnival reported an adjusted 14 cents loss per share, better than the 18 cent loss analysts had expected. Full-year guidance was in-line with estimates. Cintas — Shares jumped 10% after the company posted better-than-expected quarterly results for the fiscal third quarter. Gross margins also increased 14.9% year over year. Cintas also raised its full-year earnings and revenue guidance. Reddit — The social media stock slumped 13%. Reddit shares s urged 9% on Tuesday , building on its post-IPO rally after debuting on the New York Stock Exchange last week. Marvell Technology — Marvell Technology gained 5% after Citi opened a positive catalyst watch on the semiconductor stock, saying that buying chips tocks ahead of their AI presentations has paid off. Robinhood — Shares of the brokerage firm rose more than 2% after a new product announcement. The biggest new addition is the Robinhood Gold Card, a credit card with high cash back rewards that can be deposited into a customer’s brokerage account. Deutsche Bank — Shares popped 3.4% on the back of a Morgan Stanley upgrade to overweight. Morgan Stanley said the German Bank can add to the notable gains already seen this year. General Electric — General Electric added 3% after Wells Fargo reiterated its overweight rating on the stock and lifted its price target to $200. Wells Fargo cited cost cuts as a potential boon to shares. Concentrix — Shares gained 5% after the customer experience technology platform reported first-quarter revenue that topped estimates, and reaffirmed its guidance for the year ending November. Concentrix posted revenue of $2.40 billion in the first quarter, better than the FactSet consensus estimate of $2.38 billion. Coinbase – Shares fell more than 2% after a judge ruled the Securities and Exchange Commission’s assertion that Coinbase operates as an exchange could be heard by a jury at trial. The SEC sued Coinbase over this in June. The company later moved to have that lawsuit dismissed. Moderna — The pharmaceutical stock rose 1.5% after announcing that it transitioned three vaccines into final-stage trials. Trump Media & Technology Group — Shares of former President Donald Trump’s social media firm and Truth Social parent company soared more than 16%, adding to their strong gains from their debut under the DJT ticker on Tuesday. nCino — The cloud stock popped 17% on better-than-expected fourth-quarter earnings. The company also reported a 13% jump in revenue from the year-earlier period. — CNBC’s Alex Harring, Hakyung Kim, Michelle Fox, Tanaya Macheel, Jesse Pound, Brian Evans and Sarah Min contributed reporting
