Stocks making the biggest moves midday: Didi Global, Nvidia, PagerDuty and more

PUBLISHED FRI, SEP 3 202112:15 PM EDTUPDATED FRI, SEP 3 20215:05 PM EDT

Tanaya Macheel@TANAYAMAC

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Visitors crowd around the Nvidia booth at the 2016 China Digital Entertainment Expo, known as ChinaJoy, in Shanghai.

STR | AFP | Getty Images

Check out the companies making headlines in midday trading.

Didi Global — Shares of the Chinese ride-hailing giant climbed 2.3%, on pace for double-digit gains on the week amid a Bloomberg News report of Beijing potentially taking over the company. Beijing is eyeing a plan to take Didi under state control by acquiring a stake through government-run firms including Beijing Tourism Group, the report said. It is still an early-stage proposal pending government approval, according to the report, which cited people familiar with the matter.

MongoDB — Shares of the database company surged more than 26% Friday after reporting quarterly results late Thursday. The firm recorded a loss of 24 cents per share, which was narrower than the loss of 39 cents estimated by analysts. However, it beat revenue estimates and gave positive revenue guidance for the current quarter.

PagerDuty — Software company PagerDuty jumped nearly 7% after reporting quarterly results. It reported an adjusted loss of 13 cents per share, compared to the 11 cents analysts estimated, but issued a strong outlook for current-quarter revenue.

DocuSign — The e-signature solution provider saw its stock rise 5.2% after reporting adjusted earnings of 47 cents per share, which beat Wall Street forecasts by 7 cents. DocuSign also raised its full-year guidance for total revenue, subscription revenue and billings.

Joann Inc — Shares of the crafts company sunk more than 19% after Telsey downgraded the stock to market perform from outperform and lowered its price target on the stock to $14 from $18. The firm said there is “limited visibility” into how sales will normalize in a post-Covid era, after Joann saw heightened demand during the pandemic.

Broadcom — The chipmaker climbed more than 1% after reporting quarterly earnings. The company recorded adjusted earnings of $6.96 per share, beating estimates by 8 cents. It also beat slightly on quarterly revenue and gave an upbeat outlook on the current quarter, saying it’s still seeing strong demand in the 5G mobile market.

fuboTV — The sports streaming company nearly 1% after Arizona’s gaming department granted FuboTV a mobile betting license in the state. That makes Arizona the second state to allow mobile betting for Fubo, after its recent approval by the state of Iowa.

Nvidia — Shares gained 2% after Jefferies reiterated its buy rating on the stock and hiked its price target to $260 from $233. The firm said Nvidia can run even higher due to its growing data center and software segments.