Stocks gaining the most at noon: Micron, MicroStrategy and more | Private Equity Weekly
Take a look at the companies making headlines in midday trading. Micron Technology — Shares of Micron Technology rose more than 6% after Bank of America raised its price target on the chip maker. The Wall Street firm expects demand for high-bandwidth memory technology to grow to more than $20 billion by 2027. Cameco — Goldman Sachs has a buy rating on the uranium producer, saying it has more than 5% upside potential among more than 25 companies. Semtech — Shares of Semtech rose more than 6% after the semiconductor manufacturing company reported fourth-quarter revenue last week that beat expectations. Semtech reported revenue of $192.9 million, beating the FactSet consensus estimate of $190.7 million. The company also reported a loss of 6 cents per share, beating expectations and above analysts’ expectations of a loss of 4 cents per share. Microsoft — Microsoft shares rose 0.7% after The Information reported that Microsoft and OpenAI are planning a $100 billion data center project, citing unnamed sources. Other artificial intelligence-related stocks also rose. Western Digital shares rose 5%. Super Micro Computer shares rose 2.5%. JB Hunt Transport and CH Robinson – Trucking stocks fell 1% and nearly 4% respectively after Barclays downgraded their ratings. Analyst Brandon Oglenski cited concerns about future profitability and supply for North American trucking companies. AT&T — Shares fell 1.4% after the telecommunications company said it was investigating the data breach. An initial review found that the incident resulted in the data of more than 7 million customers being posted on the dark web. Bill Holdings — Shares of Bill Holdings fell more than 5% after Wells Fargo said in a note to clients that Bill’s growth expectations were too high and it downgraded the stock to underweight from equal weight. Tesla — Electric vehicle stock fell 2%. The price had increased earlier after a previously announced Model Y price increase took effect on Monday. Oxford Industries — Shares fell 4.4% after Citigroup downgraded the apparel company behind Tommy Bahama and other brands to sell from neutral, citing profit pressures in 2024. Uversal Health Services — Shares fell after Universal Health Services said in a regulatory filing that its subsidiary Pavilion Behavioral Health was ordered to pay $60 million in compensatory damages and $475 million in punitive damages. The company said the final resolution could have a “material adverse impact” on its business. MicroStrategy — MicroStrategy Executive Chairman Michael Saylor sold nearly 4,000 shares of MicroStrategy last week, sending shares down more than 3%, according to a regulatory filing. InterDigital — Shares of InterDigital fell 6% after Bank of America downgraded the wireless company to underperform from buy. InterDigital’s performance over the past 12 months has been “solid,” but the company’s long-term growth opportunities are more limited, one analyst said. —CNBC’s Brian Evans, Lisa Kailai Han, Alex Harring, Tanaya Macheel and Jesse Pound contributed reporting.
