Charles Schwab, Didi, KSU, Nvidia and more

Find out which companies are making the midday headlines.

Charles Schwab – The online broker’s shares fell more than 2% after Goldman Sachs lowered the stock to neutral from buy. The Wall Street firm said investors should pull out of brokerage after an increase in client trading activity helped bring the stock closer to fair value.

Didi Global – Shares of the Chinese rideshare company fell about 5.9% on Thursday as it undergoes a safety review from regulators in its home country. The Chinese government has blocked downloads of the company’s app, stifling future growth. The headline is now down nearly 28% for the week.

Rail stocks – Stock prices of major railroads were hit Thursday after the Wall Street Journal reported that the Biden administration was targeting consolidation between railways and shipping companies. Kansas City Southern is trading down 6.8%, while Norfolk Southern shares are down more than 6%. CSX is down over 5% and Union Pacific is down over 3%.

Banks – Banks are under pressure on Thursday amid growing concern about the pace of the economic recovery. Financial institutions like banks are generally viewed as cyclical stocks whose performance is tied to the trajectory of the economy. JPMorgan Chase fell about 1% and Bank of America fell 1.8%. Wells Fargo is down 1.5% and shares of Citigroup are down 1.4%.

Coinbase – Coinbase shares fell more than 3% on Thursday along with the price of bitcoin, which fell about 6% to around $ 32,000. Coinbase’s business is closely tied to the price of bitcoin and ether, although that may change in the future as it grows.

The RealReal – Shares of The RealReal rose 5% after Needham launched the authenticated luxury consignment stock hedge with a buy rating. The company said it was forecasting “upward earnings revisions” for the retailer. Needham also noted “that there is pent-up demand, as evidenced by spending on clothing and accessories which has climbed nearly 70% since the start of the year through May.”

Advanced Micro Devices, Nvidia – Chip stocks are in the red amid concerns about global growth. The declines came despite Oppenheimer raising its price target on Nvidia and Goldman Sachs raising its price target on Advanced Micro Devices on Thursday morning. Advanced Micro Devices is down 1.5% and Nvidia is down 1.8%

– CNBC’s Maggie Fitzgerald, Hannah Miao and Jesse Pound contributed reporting