Stocks making the biggest moves midday: Advanced Micro Devices, Intel, Paramount, Critical Metals & more
Here are some of the companies making headlines in midday trading.
TL;DR
- HP shares fell over 3% after the company declined to provide fiscal year outlook details and projected a mid-single-digit decline in PC volumes for 2027.
- AI-related stocks, including Intel and Lam Research, surged, with Advanced Micro Devices reaching an all-time high and surpassing $1 trillion in market cap.
- Ciena stock increased 4% following an Evercore ISI upgrade, highlighting its potential exposure to the AI buildout's optical networking bottleneck.
- Chip stocks generally climbed, with Arm Holdings, Micron Technology, and Nvidia showing gains.
- Energy stocks, including ConocoPhillips and Exxon Mobil, declined as oil prices dropped.
- Critical Metals company shares soared, driven by a US security deal with Denmark concerning Greenland, with Greenland Mines and Greenland Energy seeing significant jumps.
- Paramount and Warner Bros. Discovery shares rose following reports of settlement discussions for a lawsuit hindering their merger.
- Accenture's stock increased over 3% after announcing a partnership with Anthropic to evaluate AI models.
- Novo shares slid 8% after investors reacted unimpressively to its long-term goals in the weight loss market.
- Coinbase gained over 4%, tracking Bitcoin's rise, building on recent gains after regulatory clearance for tokenized stocks.
- Arhaus shares jumped nearly 12% following a Jefferies upgrade based on renewed optimism for the brand's strategy.