In midday trading, several companies are making headlines. Micron Technology saw its shares surge nearly 15% after the memory chipmaker provided robust guidance amid increasing demand for its products related to AI. Other chip manufacturers, including Applied Materials, ASML Holding, and Lam Research, each gained at least 4%.
Conversely, Super Micro Computer’s shares dropped over 12% following a report from The Wall Street Journal detailing an investigation by the Justice Department into the AI server maker. Southwest Airlines’ stock climbed 5.4% after the company raised its third-quarter revenue forecast and announced a $2.5 billion share buyback program. The airline also revealed strategic changes to fend off activist investor Elliott Investment Management, assuring stakeholders of its plans to elevate profits and revenue.
Starbucks experienced a nearly 2% increase in share value after Bernstein upgraded its rating, expressing confidence in the capabilities of the new CEO. NRG Energy’s shares rose 1.5% following an upward revision in its full-year guidance, projecting adjusted EBITDA between $3.53 billion and $3.68 billion.
GE Healthcare’s stock fell slightly less than 1% after UBS downgraded it to a sell rating from neutral, citing potential growth risks associated with its operations in China. Jefferies Financial faced a decline of more than 1% as it reported fiscal third-quarter earnings of 75 cents per share, falling short of expectations despite $1.62 billion in revenue.
CarMax’s shares jumped 5% after exceeding sales forecasts for the fiscal second quarter, with a 5.1% rise in retail used unit sales. Jabil experienced a significant increase of over 11% after reporting quarterly earnings and revenue that surpassed expectations, with earnings per share at $2.30 compared to an expected $2.22.
New York Community Bank saw its shares rise more than 7% following an upgrade from Barclays, which cited favorable risk-reward dynamics post-restructuring. U.S.-listed shares of Chinese internet company Bilibili soared by 15.4% after Goldman Sachs upgraded them to buy, indicating the start of a profitability growth cycle.
Finally, Sonos experienced a 4.5% decline after Morgan Stanley issued a double downgrade, with analysts expressing concerns about the effects of a recent app redesign on the company’s financial performance. Accenture’s stock rose 5.6% following better-than-expected fiscal fourth-quarter results, alongside strong guidance and an increase in its quarterly dividend.