Stocks making the biggest moves midday: MRVL, MU, AKAM, SHAK
Here are the companies making headlines in midday trading. Akamai — The cloud computing stock tumbled 4% after the company announced a proposed offering of convertible senior notes valued at $2.6 billion . Homebuilders — Stocks tied to home construction slid as the 10-year Treasury yield touched its highest level since January 2025. The benchmark yield is closely tied to consumer rates, including the rates charged on mortgages. The iShares U.S. Home Construction ETF (ITB) dropped more than 1%, as did D.R. Horton and Lennar . Toll Brothers lost about 2%. Micron Technology — Shares bounced more than 4% and the maker of memory chips headed toward its first positive session after a three-day string of losses. Shares of competitor Sandisk advanced almost 3%, while the Roundhill Memory ETF (DRAM) ‘s stock gained 2%. Investors have been selling off memory plays in recent days, weighing down the market. Marvell Technology — The chipmaker’s stock popped almost 6% after Evercore ISI lifted its price target. The firm reiterated its outperform rating and raised its price target to $155 from $133, suggesting shares could decline 8% from Monday’s close — an improvement from the earlier call for a 21% slide. “Role appears to be increasingly strategic, especially through NVDA and custom-AI connectivity work,” Evercore analysts wrote of Marvell in a Monday report. Home Depot — The home improvement retailer’s stock gained nearly 1% after the company reported sales and profit beat expectations. Earnings of $3.43 per share, on an adjusted basis, exceeded the $3.41 per share analysts polled by LSEG were expecting. Revenue of $41.77 billion came in above the forecast $41.52 billion. Amer Sports — Shares rose 4% after the sportswear company behind the Wilson and Salomon brands reported first-quarter results that topped analysts’ expectations. Earnings of 38 cents per share, excluding items, topped the FactSet consensus estimate of 31 cents per share. Revenue of $1.95 billion also exceeded the forecasted $1.84 billion. Blackstone , Alphabet — The two stocks reversed earlier gains and slid. Blackstone said it will invest $5 billion in equity capital into a new artificial intelligence infrastructure company with Google. Shares of Blackstone were down 1% on the day, while shares of Google parent Alphabet dropped nearly 2%. Shake Shack — The hamburger chain’s stock gained 5% after six insiders, including the CEO, bought shares of the company totaling roughly $3.2 million, according to a regulatory filing. — CNBC’s Nick Wells and Darla Mercado contributed to this report. Markets shift and headlines fade, but the core principles of building long-term wealth remain constant. Join us for our third CNBC Pro LIVE, where investors of all backgrounds — from financial professionals to everyday individuals — come together to cut through the noise and gain actionable strategies for smarter, more disciplined investing. No matter where you’re starting from, you’ll leave with clearer thinking, stronger strategies. Enter your email here to get a discount code.
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