BABA, LAC, FCX, QURE and more
Check out the companies making headlines in midday trading: Freeport-McMoRan — The mining company’s stock tumbled nearly 12% after it declared force majeure at its Grasberg mine in Indonesia. Freeport halted activity at the mine earlier this month after a mud rush led to a fatal accident. In addition, the company warned consolidated sales for copper and gold will be lower in the third quarter than it previously expected. UniQure — Shares of the biotech firm soared more than 250% after its experimental gene therapy for Huntington’s slowed progress of the neurodegenerative disease’s progress in a key clinical trial. Thor Industries — Shares of the Airstream manufacturer rose nearly 6% after posting better-than-expected earnings. Thor earned $2.36 per share, excluding items, on revenue of $2.52 billion. Analysts had anticipated Thor would earn $1.28 per share on $2.32 billion. Alibaba — U.S.-listed shares of the Chinese tech company jumped more than 9% after Alibaba said it will boost spending on artificial intelligence models and development. It also unveiled new AI products and updates. Lithium Americas — The mining stock rose more than 96% after Reuters reported, citing people familiar with the matter, that the Trump administration was looking to acquire a stake of up to 10% in the company. Oracle – The database software company’s stock dropped 4% amid uncertainty over the extent to which Oracle will exercise control over TikTok’s algorithm as part of its deal to purchase the social media platform alongside other BigTech investors from China-based ByteDance. Micron — Shares fell more than 4% even after the company posted a better-than-expected quarterly report and upbeat current-quarter guidance. The stock has nearly doubled so far in 2025. Coinbase — Shares rose 1% after the cryptocurrency exchange launched the x402 Foundation in collaboration with Cloudflare to establish a universal standard for AI-driven payments. The crypto stock rose alongside bitcoin, which was up more than 1%. MillerKnoll — Shares of the office furniture company fell about 7% despite having outpaced analyst estimates in the latest quarter. The company said it is getting a boost from a pick-up in office leasing activity. Douglas Elliman — The luxury real estate brokerage’s shares fell 5% after Reuters reported a Wall Street watchdog is investigating alleged insider-trading activity linked to a failed bid to take over the firm. The probe is still in its early stages, the report said. — CNBC’s Liz Napolitano, Sarah Min, Sean Conlon, Yun Li, Alex Harring and Michelle Fox contributed reporting.
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