Stocks making the biggest moves at midday: HAL, WBD, ORCL

In this photo illustration, the Warner Bros. Discovery logo is displayed on a smartphone screen.

Rafael Henrique | SOPA images | Light rocket | Getty Images

Occidental Petroleum, Halliburton, EOG Resources – Shares of oil and gas companies rose on Tuesday after Saudi Arabia earlier extended its voluntary cut in crude oil production by one million barrels a day through the end of the year. Occidental Petroleum gained about 3.3%. Halliburton rose 2.8% and EOG Resources rose 3.1%. The cut, which caused oil prices to rise during the day, comes on top of other voluntary cuts in crude production that some OPEC members have implemented until the end of 2024.

oracle – Software shares rose 2% as Barclays upgraded the stock to Overweight from Equal Weight. The company said the company’s cloud business would be powered by artificial intelligence.

Airbnb – Shares rose 8% on Friday’s announcement from S&P Dow Jones Indices that the stock will be added to the S&P 500 starting Sept. 18. The S&P 500 is largely tracked by major index funds, which could put buying pressure on Airbnb’s shares weeks ahead.

Black stone – Shares of the asset management company rose 4% after news that the stock will be added to the S&P 500 before the Sept. 18 open as part of a quarterly rebalancing of the S&P indexes.

Warner Bros. Discovery – The media stock rose 3% in midday trading after Warner Bros. said it still expects to meet its net debt target even though its adjusted earnings before interest, taxes, depreciation and amortization fell by $300 million to $500 million . This puts the adjusted profit for the full year between 10.5 and 11 billion US dollars. Warner Bros. said its adjusted full-year expectations assume the financial impact of the writers and actors strikes will continue through year-end.

NextGen Healthcare – Shares of the healthcare company rose nearly 7% on Tuesday following a Bloomberg report report On Monday, the company announced that it was in late-stage discussions with potential acquirer Thoma Bravo.

Brady – Manufacturing stocks rose 11% midday after the company reported quarterly results. Brady reported adjusted earnings per share of $1.04 in its fiscal fourth quarter, while analysts surveyed by FactSet forecast a profit of 93 cents.

PulteGroup, Lennar – Homebuilder stocks took a breather on Tuesday. The industry is in turmoil in 2023 due to the lack of homes for sale. PulteGroup and Lennar fell during the day’s trading session, losing about 5% each.

—CNBC’s Brian Evans, Alex Harring and Hakyung Kim contributed reporting. Stocks making the biggest moves at midday: HAL, WBD, ORCL

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