Stocks making the biggest moves midday: MU, AZO, QCOM, OKLO
Here are the companies making headlines in midday trading. Micron Technology — Shares popped nearly 18%, touching a new high and lifting the company’s market capitalization to $1 trillion. UBS raised its price target on the stock to $1,625 from $535, suggesting shares could more than double from Friday’s close. Shares have gained more than 800% in the past 12 months. Semiconductors — Chip stocks rose on Tuesday, with the VanEck Semiconductor ETF (SMH) gaining more than 3% to touch a new 52-week high. On Semiconductor added nearly 9%, as did Western Digital . Advanced Micro Devices gained 6%. Oklo — The nuclear tech company rose 6% after announcing that the Department of Energy chose it for advanced discussions for using Cold War-era plutonium as fuel for nuclear reactors. Oklo said it will be working with European nuclear reactor developer Newcleo to produce the fuel. Modine Manufacturing — The maker of HVAC components jumped 16% after announcing it has reached a $4 billion agreement through 2029 with one of its strategic data center customers. The company will provide this customer with its Airedale by Modine cooling solution. Qualcomm — The chipmaker gained 3% after Bloomberg reported that Qualcomm reached a deal with TikTok owner ByteDance to supply the company with chips for its artificial intelligence data centers. AutoZone — The automotive parts distributor dropped more than 10% after AutoZone CEO Phil Daniele said international sales were challenged in its most recent quarter, even as domestic sales continued to do well. The company posted third-quarter revenue of $4.84 billion, below the FactSet consensus estimate of $4.86 billion. Quarterly earnings of $38.07 per share did exceed the expected $36.22. Eli Lilly — The pharmaceutical stock gained 1% after Eli Lilly said it’s acquiring three companies — Curevo, LimmaTech Biologics AG and Vaccine Company — to build its infectious diseases portfolio. Ferrari — U.S.-listed shares of the Italian luxury carmaker fell almost 6% after Ferrari launched its first fully electric vehicle , called Luce, at a venue in Rome. Lear Corp — Shares gained 2%. TD Cowen upgraded Lear to buy from hold, saying the auto parts supplier is “well-positioned” in North American auto production, which the investment bank expects will be stronger than expected. Space stocks — Space stocks rose, with Intuitive Machines rallying 14% and AST SpaceMobile gaining 19%. Cantor Fitzgerald is bullish on the group, citing a $90 million contract awarded to Rocket Lab by the U.S. Space Force for two geospatial satellites and Intuitive Machines reaffirming fiscal year guidance and expecting a contract decision on a Lunar Terrain Vehicle later this week. Rocket Lab was last up more than 5%. — CNBC’s Nick Wells and Darla Mercado contributed reporting. 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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