Take a look at the companies making headlines in afternoon trading: Broadcom – Shares rose 7% after a report from The Information that the semiconductor maker helped Apple create an artificial intelligence chip. Apple shares traded less than 1% higher. C3.ai – The business artificial intelligence software company lost 9% after being downgraded to underweight from neutral at JPMorgan. Analyst Pinjalim Bora cited an overvaluation as the catalyst behind the change, adding that he now expects the stock to underperform through 2025. Macy's – Shares fell less than 1% after the department store chain lowered its guidance for the fiscal year. Macy's now expects adjusted earnings per share between $2.25 and $2.50, compared to its previous guidance of $2.34 to $2.69. GE Vernova – Shares of the energy equipment maker rose 5% after announcing it would initiate a 25 cent per share dividend and an initial $6 billion share buyback authorization. GE Vernova also raised its 2028 margin estimate from 10% to 14%. Dave & Buster's Entertainment — The arcade and restaurant operator fell 20% after missing earnings and revenue expectations and announcing that CEO Chris Morris would be leaving. Dave & Buster's posted a third-quarter loss of 84 cents per share on revenue of $453 million. Analysts polled by LSEG expected a loss of 37 cents per share and revenue of $466 million. Duolingo – Shares fell 5% after Bank of America downgraded the language learning company from buy to neutral. The bank said Duolingo already appears to be trading at “peak valuation” and said it could be difficult for the company to beat consensus estimates for its next quarterly report. GameStop — Meme stocks are up 8% after the video game retailer posted an unexpected profit in its latest quarter. GameStop reported net income of $17.4 million in the third quarter, compared to a net loss of $3.1 million in the same period last year. Patterson – The dental and animal health company rose 36% on news that Patterson would be acquired by Patient Square Capital. The healthcare investment company will pay $31.35 per share, and the deal is expected to close in the fourth quarter of Patterson's fiscal 2025 year. Stitch Fix – Shares rose 44% after the online personal styling company raised its fiscal second-quarter revenue guidance. The company also raised the top end of its full-year revenue guidance, expecting between $1.14 billion and $1.18 billion, up from the previous estimate of between $1.11 billion and $1.16 billion. General Motors – The Detroit automaker lost 1% after exiting its Cruise robotaxi service, where it had previously funneled more than $10 billion. General Motors said it would no longer fund development, citing an increasingly competitive market and capital allocation priorities as reasons for the decision. Bausch + Lomb – Shares tumbled 12% after Citi downgraded the contact lens supplier to neutral from buy. The bank cited increased competition as the reason for the reduction. Wolverine World Wide – Shares rose 7% after Stifel upgraded the company, which owns the Merrell and Saucony shoemaking brands, to buy out of the hold. The company said Wolverine World Wide's earnings growth potential appears compelling and that next year is a “bender year” for the stock. JetBlue — The airline rose 11% after unveiling plans to add domestic first-class seats starting in 2026 on planes that don't have the existing top-of-the-line Mint class. This is the latest initiative to target long-term premium customers. plan back to profitability. Figs – The medical apparel maker rose 22% after The Wall Street Journal reported that Figs had received a takeover offer from Story3 Capital Partners. The private equity firm valued the company at more than $1 billion and offered $6 each for the outstanding shares of Figs common stock it did not already own, the Journal reported. Krispy Kreme – Shares fell 1% after the donut chain disclosed in a regulatory filing a cybersecurity breach that disrupted its operations, including online ordering from the U.S. pharmacy benefit managers – Shares of CVS Health, UnitedHealth and Cigna each fell about 6% after lawmakers introduced their activities a Senate bill that would ban companies that own health insurers or PBMs from owning pharmacy businesses. The bill would force these companies to divest their pharmacy operations within three years. — CNBC's Michelle Fox, Alex Harring, Hakyung Kim, Yun Li, Sarah Min and Pia Singh contributed reporting.
