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CNBC/The RealReal exteriorSoruce: CNBC/The RealRealRealRealRealRealReal Take a look at the companies that are making news in noon trade. Charles Schwab is a hedge fund manager. The stock of the online broker fell more than 2% after Goldman Sachs downgraded it from buy to neutral. Investors should avoid the brokerage, according to the Wall Street business, after a surge in customer trading activity pushed the stock near to its fair value. Didi Global is a company that is based in China. The Chinese ride-hailing company’s stock fell 5.9% on Thursday after it was subjected to a security audit by officials in its native country. The Chinese government has prevented the company’s app from being downloaded, impeding further expansion. The stock has already dropped roughly 28% this week. Stocks in railroads The Wall Street Journal reported on Thursday that the Biden administration is pursuing amalgamation among railroads and ocean transport corporations, causing major railroad stock values to plummet. The stock of Kansas City Southern is down 6.8%, while Norfolk Southern is down more than 6%. Union Pacific is down more than 3% while CSX is down more than 5%. Banks — Banks were under pressure on Thursday as concerns about the economy’s speed grew. Financial institutions, such as banks, are often thought of as cyclical companies, whose success is linked to the economy’s trajectory. JPMorgan Chase was down about 1%, and Bank of America was down about 1.8 percent. Wells Fargo’s stock is down 1.5 percent, while Citigroup’s stock is down 1.4 percent. Coinbase — Shares of Coinbase declined more than 3% on Thursday, about in line with the price of bitcoin, which plummeted around 6% to around $32,000. Coinbase’s revenue is heavily influenced by the price of bitcoin and ether, though this may change as the company grows. The Genuine Article — The RealReal stock rose 5% after Needham launched coverage with a buy rating on the authenticated premium consignment stock. The business sees “upside earnings revisions” for the store, according to the firm. “There is pent-up demand,” according to Needham, “as indicated by expenditure on garments and accessories growing over 70% YTD through May.” Nvidia, Advanced Micro Devices — Chip stocks are down due to worries about global growth. Despite Oppenheimer increasing its price objective on Nvidia and Goldman Sachs increasing its price target on Advanced Micro Devices on Thursday morning, the drops occurred. Nvidia is down 1.8 percent and Advanced Micro Devices is down 1.5 percent. — Maggie Fitzgerald, Hannah Miao, and Jesse Pound of CNBC contributed to this article. CNBC Pro can help you become a better investor. Get stock recommendations, analyst calls, exclusive interviews, and CNBC TV access. To begin your free trial, fill out the form below./nRead More

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