Stocks making the biggest moves midday: Coinbase, CoreWeave, KKR, Moderna, Brown-Forman & more

Here are some of the stocks making the biggest moves in midday trading. CoreWeave — The cloud company’s stock popped 8% after it announced a multiyear agreement with Perplexity. The AI company will power its next-generation inference workloads on CoreWeave’s platform. Broadcom — Shares moved 2% higher ahead of the chipmaker’s fiscal first-quarter earnings report, expected after the bell. Analysts polled by LSEG are calling for earnings of $2.03 per share on revenue of $19.18 billion. Dow Inc — KeyBanc upgraded the stock to overweight from sector weight, saying that higher oil prices will benefit U.S. ethylene producers such as Dow. Its stock rose 4% after the call. According to FactSet, the firm said about 11% to 15% of global ethylene capacity is directly tied to the Iran conflict, and U.S. and European inventories are low. KKR — Shares of the alternative asset manager were up 3% after prominent insiders disclosed their purchase of the stock. Co-CEOs Scott Nuttall and Joseph Bae bought KKR shares totaling $8.8 million last week, according to filings with the Securities and Exchange Commission. Brown-Forman – The maker of Jack Daniel’s whiskey reversed premarket gains and was last down more than 6%. Management said on a conference call that cost pressures related to the company’s barreled whiskey are expected to persist and that expenses around the barrels themselves could present a “year-over-year challenge” to gross margins next year, according to a FactSet transcript of the call. Moderna — The biotechnology firm rose 12% after it said it agreed to pay up to $2.25 billion to settle a lawsuit with Arbutus Biopharma and Genevant Sciences over a Covid vaccine patent. Ross Stores — Shares popped 7% after the off-price retailer reported better-than-expected fourth quarter financial results that showed its sales are rising. The company’s earnings came in at $2.00 per share, topping analysts’ consensus estimate of $1.90, per FactSet. It also brought in $6.64 billion in revenue, well above the $6.42 billion expected by analysts. CrowdStrike — Shares rose roughly 3% after the cybersecurity firm issued strong forward guidance for the first quarter and full year. The company expects to notch earnings of between $1.06 and $1.07 per share excluding some items on revenue of $1.36 billion to $1.364 billion in the first quarter. That’s largely above analysts’ consensus estimates of $1.35 billion in revenue and $1.06 earnings per share, per FactSet. For the full year, CrowdStrike expects to bring in earnings of $4.78 to $4.90 per share excluding some items versus a consensus of $4.80. Coinbase – The cryptocurrency trading platform’s shares jumped 15% after President Donald Trump signaled his support for a digital asset market structure bill. In a social media post on Tuesday, he called for banks to “make a good deal with the Crypto Industry because that’s what’s in best interest of the American People.” Shares of bitcoin treasury play Strategy jumped more than 10%, while Robinhood advanced 7%. Bitcoin itself was also last up 7% and trading around $73,000. Abercrombie & Fitch — Shares slid more than 4% after the apparel retailer reported mixed fourth-quarter results. The company posted earnings of $3.68 per share, excluding some items, versus the $3.57 per share expected by analysts polled by FactSet. Its revenue was in line with analysts’ estimate at $1.67 billion. Abercrombie & Fitch also issued lackluster forward guidance, seeing first-quarter earnings between $1.20 and $1.30 per share, well below analyst expectations of $1.45 per share. The firm also projected lower-than-expected revenue growth. Box — The company, a content management provider, beat fourth-quarter earnings and revenue expectations and gave strong guidance for the current quarterly period. Box reported earnings of 49 cents per share, on an adjusted basis, and revenue of $305.9 million for the fourth quarter. Analysts polled by LSEG expected fourth-quarter earnings of 34 cents per share on $304 million in revenue. Shares advanced more than 8%. GitLab — The software stock dipped 8% after GitLab’s fiscal 2027 guidance came out lower than was expected. The company guided its fiscal year revenue to between $1.099 billion and $1.118 billion, compared with the $1.12 billion LSEG estimate. Fiscal year adjusted earnings ranging should range between 76 cents and 80 cents per share, falling short of the $1.05 per share estimate. — CNBC’s Pia Singh, Michelle Fox, Christina Cheddar-Berk, Nick Wells and Darla Mercado contributed reporting.