Stocks making the biggest moves midday: Micron, Paramount Skydance, Mara Holdings, PepsiCo & more
Check out the companies making the biggest moves midday: Micron Technology — The memory chipmaker rose more than 7% after the company said it will invest up to $3 billion to ” strengthen the U.S. semiconductor supply-chain ecosystem .” Shares also rose as part of a broader move higher in the semiconductor space. Mara Holdings – Shares of the bitcoin miner and digital infrastructure company surged 15%. Mara said it will acquire land in Matagorda County, Texas from HIF USA, a renewable fuels company. Mara said the site, which includes more than 1,200 acres, will eventually more than double the company’s power capacity to about 4.8 gigawatts across its portfolio. HIF will keep a minority stake in the project. Paramount Skydance — Shares fell 6% on Thursday after Reuters reported , citing two people familiar with the matter, that several U.S. states are planning to file an anti-trust lawsuit against the entertainment conglomerate over its acquisition of Warner Bros. Discovery . Qiagen – The molecular diagnostics company surged 10% after Bloomberg News reported , citing people familiar, that firms like EQT , AllianceBernstein , and KKR are interested in taking Qiagen over. Some of the prospective buyers have suggested they could weigh offering at least $50 a share if they move forward, some of these people told Bloomberg. AstraZeneca — The biopharmaceutical company tumbled 6% after its heart disease drug, Wainua, failed to meet its target in a late-stage clinical trial. PepsiCo — The snack and beverage giant reported mixed results for its second quarter . PepsiCo’s adjusted earnings of $2.20 per share fell short of the $2.21 a share expected from analysts polled by LSEG. Revenue was $24.18 billion, above the $23.95 billion consensus estimate. Shares fell 3%. Salesforce — The stock shed 2% following a downgrade at KeyBanc to sector weight from overweight. The firm said it is difficult to find evidence of future upside based on checks and consumer conversations, as well as disclosed numbers from the company. Levi Strauss — The denim giant rose 2.3% after its second-quarter earnings and revenue topped anayst expectations. Cerebras Systems — Shares moved 11% higher after the AI infrastructure company announced a major European expansion . Cerebras, which brings its first European data center capacity online by the end of the year, plans to expand total capacity to 2000 megawatt in 2027 with more data centers across the continent. Costco — The wholesale club lost 4% after reporting decelerating comparable sales for June. Costco’s comps rose 8.8% year over year in June, versus the 12.5% gain it saw in May . — CNBC’s Tanaya Macheel, Darla Mercado, Liz Napolitano and Fred Imbert contributed reporting.
About the Author
