Stocks making the biggest moves midday: SPCX, JPM, QURE, NNE
Check out some of the companies making the biggest moves midday: SpaceX — The rocket manufacturer dropped more than 3% Wednesday after soaring nearly 50% in its first three days as a public company since its $135-per-share IPO last Friday. Bank stocks — The 15-year old Invesco KBW Bank ETF (KBWB) hit a new all-time high as the bull market spread out to include former laggards. JPMorgan , Bank of America , Goldman Sachs and Morgan Stanley all touched new intraday records, while Citigroup rose to a multi-year high. CarMax — Shares fell 7% after first-quarter earnings and revenue beat Street expectations. CarMax reported earnings of $1.31 per share, well above analysts polled by LSEG’s expectations for earnings of 95 cents per share, but the stock had rallied going into the report and is still up 31% in the past month. AST SpaceMobile — The stock rose 2% after AST said it successfully launched into orbit three new satellites on Wednesday that will continue to build its cellular broadband network in space. SpaceX’s Falcon 9 rocket was used for the launch. La-Z-Boy — The furniture maker surged 19% after saying retail sales rose 11% in its fiscal fourth quarter compared to the year-earlier period. Adjusted operating margin of 9.9% was up 50 basis points compared to the prior year. Aehr Test Systems – The semiconductor test company rose 12% after announcing that it has received a follow-on production order from a major silicon photonics customer. The order is for a fully automated wafer-level burn-in system, which is scheduled for delivery in the next six months. Lionsgate Studios — The media company fell more than 6% after Netflix denied reports it’s interested in buying Lionsgate. Lionsgate jumped nearly 14% on Tuesday amid the potential merger reports. Netflix dipped 1% Wednesday. Chipmakers — Several semiconductor companies rebounded after a sell-off Tuesday as investors rotated back to this year’s winners. Intel rose almost 4% after saying its Intel 18A-P chip entered production, meeting an internal timeline. Advanced Micro Devices added 3%, Broadcom climbed 6% and Qualcomm advanced 2%. Figma — The AI-powered digital design and product development platform rallied 7% after Citigroup began research coverage with a buy rating. Citi said Figma has a $25 billion total addressable market that is only in the early innings of adoption. Salesforce — The customer relations management software provider fell again, on pace for a record 12th straight decline that’s driven it down 23%. Salesforce fell to its lowest level since early 2023. Shares were last down 2%. SharonAI Holdings – The computing company saw shares jump nearly 15%. SharonAI announced a $1.6 billion private placement financing to fund the expansion of artificial intelligence factories across Australia and the Asia-Pacific region. Jabil — Shares rose almost 4% after the company reported fiscal third-quarter earnings and revenue that topped analyst estimates. Guidance for the current quarter and the company’s full fiscal year also came in above expectations. UniQure — The Dutch biotech soared almost 75% after it said the FDA agreed with its plan to file an application for its gene therapy for Huntington’s disease. Nano Nuclear Energy — The maker of solid core battery and low-pressure coolant reactors jumped 11% after Roth Capital initiated coverage with a buy rating and a PT of $45, citing growing confidence in the commercialization path for its Kronos micro-modular reactor. NNE models the first commercial Kronos delivery in fiscal 2030 and profitability in fiscal 2031. AT & T — The mobile and landline carrier fell 3% after naming Jennifer Biry as the new chief financial officer, replacing Pascal Desroches, who’s retiring. — With reporting by CNBC’s Davis Giangiulio, Darla Mercado, Nick Wells, Anjelica Peebles and Gina Francolla
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