economy
Stocks making the biggest moves midday: Coherent, Victoria's Secret, Marvell, HPE, Generac, Intuit & more
Here are the companies making headlines in midday trading.
TL;DR
- Generac stock climbed 6% on a deal to supply backup power to a hyperscale data center.
- USA Rare Earth gained nearly 5% after announcing a $1.2 billion investment for a magnet manufacturing facility.
- Intuit shares dropped nearly 9% following a Goldman Sachs downgrade due to anticipated increased competition.
- Shake Shack tumbled 10% after cutting its full-year earnings and second-quarter revenue guidance.
- Optical stocks like Coherent, Lumentum, and Corning surged due to rising AI and data center demand.
- Marvell Technology shares surged almost 30% after Nvidia's CEO suggested it could be the next trillion-dollar company.
- Hewlett Packard Enterprise stock jumped 16% after reporting strong earnings and revenue guidance that exceeded estimates.
- Victoria's Secret rallied about 44% after raising its full-year guidance and beating first-quarter earnings.
- Credo Technology shares fell almost 3% despite exceeding fourth-quarter earnings and revenue expectations.
- Microchip Technology jumped 4% after releasing positive revenue figures for its data center solutions business.
- Alphabet shares dipped 2% after announcing plans to sell $80 billion in stock.
- STMicroelectronics rallied around 15% after raising its 2026 revenue ambition for data centers.