economy
Stocks Making the Biggest Moves Midday: Corning, Qualcomm, Wendy’s, Trade Desk & More
Here are the stocks making headlines in midday trading.
TL;DR
- Trade Desk shares fell nearly 7% after HSBC downgraded the stock and lowered its price target, citing missed expectations and disappointing guidance.
- Corning's stock jumped 10% after Bank of America added it to its U.S. 1 List and following Nvidia's announcement of a significant investment and partnership.
- Semiconductor stocks, including Qualcomm and Western Digital, experienced gains as investors continued to buy into the sector.
- Wendy's shares tumbled 6% after JPMorgan downgraded the stock, citing declining U.S. same-store sales trends and a "lack of direction."
- Lumentum rose nearly 5% on the news it will join the Nasdaq 100 index.
- Monday.com gained 6% after reporting an earnings and revenue beat for its first quarter, with its AI platform contributing to revenue growth.
- Sony's stock jumped nearly 6% following an announcement of a joint venture with Taiwan Semiconductor Manufacturing Company to develop and manufacture image sensors.
- Energy stocks saw increases, with Valero Energy and Occidental Petroleum rising, amid rising oil prices.
- Circle Internet Group's stock rose 15% after reporting mixed first-quarter financial results and raising capital from institutional investors.
- Micron Technology stock continued its rise, up almost 6% on Monday, driven by an artificial intelligence-induced memory shortage.