Check out the companies making headlines in midday trading: Affirm — The buy now, pay later company saw shares tumble 10% after CNBC reported that Swedish fintech firm Klarna will replace Affirm as the exclusive provider of such loans for Walmart . Klarna, which just disclosed its intention to go public in the U.S., will provide loans to Walmart customers in stores and online through the retailer’s majority-owned fintech startup OnePay. Incyte — The pharmaceutical stock dropped 9% after the release of phase three trial data for a skin condition treatment. Incyte said the trials of its drug met the primary endpoints. However, the drug was effective for less than half the participants who took it in the trials. Norwegian Cruise Line — The cruise operator gained 4% following an upgrade to overweight from neutral at JPMorgan. Analyst Matthew Boss said Norwegian Cruise Line’s management indicated that a more volatile macro backdrop has not contributed to any detectable change in demand behavior to date. Netflix — The streaming titan popped nearly 4% on the back of MoffettNathanson’s upgrade to buy from neutral. MoffettNathanson said Netflix can monetize more than previously anticipated, which can help grow profit. Sprouts Farmers Market — Shares added 3% after Deutsche Bank upgraded the organic food retailer to a buy rating from hold. The bank said the franchise’s same-store sales momentum is sustainable and sees margin expansion opportunities, while the stock’s recent pullback — shares are down 20% in the past month — offers investors an attractive entry point. Blackstone — The alternative asset manager popped 3% following an upgrade to buy from neutral at UBS. Analyst Brennan Hawken said the stock has an “attractive long term growth profile” and investors have a chance to invest in a “premier alts platform” at a reasonable valuation. SL Green Realty — Shares climbed 2% after Evercore ISI upgraded the real estate investment trust to outperform from in line. The firm cited better leasing activity across core Midtown Manhattan submarkets, a potential casino license and a recent sell-off as catalysts for the upgrade. Monday.com — The stock popped almost 3% after D.A. Davidson upgraded the cloud-based project management software firm to a buy rating. Analysts pointed to a recent pullback as providing a “lucky” entry point, while reiterating their confidence in the company’s cash flow durability going forward. Intel — The beleaguered semiconductor manufacturer climbed nearly 8% after a regulatory filing from Friday revealed that incoming CEO Lip-Bu Tan will purchase $25 million worth of company shares within 30 days of his appointment. Tesla — The electric vehicle stock slipped 6% following a price target cut from Mizuho . Analysts expressed their caution on weaker EV sales ahead, but they still stood by their outperform rating. Mizuho’s new price forecast of $430, down from $515, still represents 72% upside from where shares of Tesla ended Friday. Robinhood — Shares of the stock trading platform moved 4% higher. Robinhood announced a new prediction markets hub in its app. Traders can use these event contracts to bet on the outcome of upcoming events, from sports tournaments to the Federal Reserve’s upcoming interest rate decisions. — CNBC’s Alex Harring, Yun Li, Jesse Pound and Nick Wells contributed reporting.
