economy
Stocks Making the Biggest Moves Midday: Micron Technology, AutoZone, Qualcomm, Oklo & More
Here are the companies making headlines in midday trading.
TL;DR
- Micron Technology's stock popped nearly 18%, reaching a new high and a $1 trillion market capitalization, with UBS raising its price target.
- Chip stocks rose, with the VanEck Semiconductor ETF reaching a new 52-week high, and individual stock gains seen in On Semiconductor, Western Digital, and Advanced Micro Devices.
- Oklo shares increased 6% after being selected by the Department of Energy for discussions on using Cold War-era plutonium as nuclear fuel.
- Modine Manufacturing jumped 16% following a $4 billion agreement through 2029 with a data center customer for its cooling solutions.
- Qualcomm gained 3% on a report that it reached a deal with ByteDance to supply chips for its AI data centers.
- AutoZone shares dropped over 10% due to challenges in international sales, despite strong domestic performance, and reported revenue below estimates.
- Eli Lilly acquired three companies to bolster its infectious diseases portfolio.
- Ferrari's U.S.-listed shares fell almost 6% after launching its first fully electric vehicle.
- Lear Corp shares gained 2% after TD Cowen upgraded the stock, citing its strong position in North American auto production.
- Space stocks saw gains, with Intuitive Machines and AST SpaceMobile rallying, supported by a U.S. Space Force contract awarded to Rocket Lab.