economy
Stocks Making the Biggest Moves Midday: Sandisk, Applied Materials, AeroVironment, Cisco Systems, Reddit & More
Here are some of the companies making headlines in midday trading.
TL;DR
- Cisco Systems shares slid 2% after HSBC downgraded its rating and price target.
- Drone manufacturers like Unusual Machines, Red Cat, and AeroVironment saw shares rise after President Trump imposed import tariffs on foreign-made drones.
- Intuitive Machines jumped 10% on an expanded order backlog and an upgraded investment rating.
- Fox Corp. stock rose 5% following upgrades from JPMorgan and Wells Fargo, partly due to its agreement to acquire Roku.
- York Space Systems shares slumped 12% after missing earnings estimates and lowering full-year guidance.
- Reddit shares surged 12% after S&P Dow Jones Indices announced it would join the S&P 500.
- Applied Materials shares lost 5% after its Q2 results failed to impress investors.
- Wayfair shares gained 1% after Bernstein upgraded its rating to outperform.
- Workday shares were down more than 3% as traders pocketed gains from a previous rally.
- Sandisk shares climbed 6% after an analyst at JPMorgan upgraded the stock to overweight.