Stocks making the biggest moves midday: AXT, Dell Technologies, Broadcom, O’Reilly Automotive & more
International Business Machines — The tech giant’s shares jumped more than 3% on the back of a price target increase from Bank of America. The firm bumped its price target to $330 from $315, noting “we anticipate IBM raises F26 guidance modestly.” O’Reilly Automotive — Shares of the auto-parts retailer lost more than 7%. Late last week, Bloomberg reported , citing people familiar, that O’Reilly is making a cash bid for Genuine Parts’ auto-parts business. D.A. Davidson said Monday that such a deal would be “accretive” for O’Reilly and reiterated its buy rating and $114 price target. Teradyne , Advanced Micro Devices — Both semiconductor companies’ stocks jumped after Goldman Sachs lifted its price targets on their shares. Goldman lifted its 12-month target on Teradyne to $465 from $350 and hiked its target on AMD to $640 from $450. The firm rates both stocks as buy. Teradyne’s stock last traded 4% higher, while AMD’s gained almost 8%. The iShares Semiconductor ETF (SOXX) also rose more than 3%. IREN Ltd . — The Australian data processing servicer that trades on Nasdaq soared 14%. IREN may sell Anthropic at least 1.4 gigawatts of capacity from its Australian data centers, the Australian Financial Review said. Micron Technology — The memory chip maker’s shares climbed nearly 3%. Micron and Ford Motor announced a long-term agreement in which the semiconductor company will provide memory and storage platforms for the auto manufacturer’s next-gen vehicles. Ford jumped more than 3%. Broadcom — The chip company jumped 4%. Broadcom announced it will expand its partnership with Apple through 2031, in which it will develop and supply custom chips for use in multiple generations of Apple products. The iPhone maker gained more than 1%. AXT — The maker of semiconductor substrates soared almost 20% after saying late Thursday that a subsidiary entered a “master development and supply agreement” with Coherent , which will involve AXT boosting manufacturing capacity at a Beijing plant through 2028. Coherent gained more than 3%. Solstice Advanced Materials — The specialty chemical maker spun off from Honeywell last year dropped about 15% on reports it’s in talks to merge with Element Solutions to potentially create a $27 billion company. Element Solutions dropped about 3%. Discussions between the companies are ongoing, but a deal could come together as soon as this week, said people familiar with the talks. TeraWulf — Shares jumped 10% after Anthropic signed a 20-year lease to use a TeraWulf data center in Kentucky. The lease is expected to bring in about $19 billion in revenue over the initial term. Dell Technologies — The server maker jumped almost 4% after President Donald Trump on Monday promoted Dell’s computers from the White House after ringing the stock market’s opening bell in the Oval Office. Trump bought $1 million to $5 million in Dell shares on Feb. 10, according to a government ethics filing , and made three other smaller purchases of Dell shares in March, according to the filing. ASML Holding — The Dutch semiconductor company was up more than 4% after Bernstein hiked its price target on the stock by more than 30% to $2,300. Analysts at the firm said they were raising their forecasts amid unprecedented expansion in both logic and DRAM capacity driven by artificial intelligence. T-Mobile U.S. — Shares were up more than 1% after Bank of America raised its rating to buy from neutral. The bank said investors are reacting to what it calls peak bearishness in the telecommunications sector, and that the stock’s more than 20% fall from its 2026 highs in February is overdone. — CNBC’s Scott Schnipper, Michelle Fox and Nick Wells contributed reporting.
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