Stocks making the biggest moves midday: Z, KLAC, IRBT, IMNM
Check out the companies making the biggest moves midday: KLA Corp. — The semiconductor equipment maker jumped 4%, nearing a 52-week high, after Jefferies raised its 12-month price target to $1,500 from $1,200, saying “AI continues to drive spend with [wafer fab equipment] accelerating into C26/C27,” and citing KLA’s “outsized exposure to the Leading Edge.” Immunome — The biotech company surged 20% after releasing positive Phase 3 trial results for varegacestat, a drug that aims to treat desmoid tumors. “These findings demonstrate the potential of varegacestat to offer best-in-class results in a convenient, once-daily, oral medicine that may help patients reclaim their lives,” CEO Clay Siegall said in a statement. Zillow Group — Shares dipped 8% following a report that showed Google was testing a new format in which listings would appear directly on search results. Abercrombie & Fitch — The retailer added 6%, building on 18% gain from last week. The stock appears to be a beneficiary of an underlying market rotation out of tech and into other parts of the market. Year to date, shares remain 20% lower. Tilray — The cannabis stock fell 3%, giving back some of on last week’s rally sparked by news that President Donald Trump would instruct federal agencies to give the drug a less-stringent Schedule III classification from its current Schedule I designation. Las Vegas Sands , Marriott International — The hospitality giants rose 2.1% each after receiving upgrades to buy at Goldman Sachs. The bank said Marriott will benefit from strength among high-end consumers, while Las Vegas Sands will get a boost from sustained momentum in Macao. Rocket Lab — Shares fell 7%, reversing an earlier gain that was driven by reports that SpaceX aims to go public in 2026 after clinching an $800 billion valuation in its latest funding round. Alibaba , Baidu — New data pointing to an economic slowdown in China hurt stocks of e-commerce and internet services firms based in the country. The data shows Chinese retail sales slowed to 1.3% in November compared to the same period a year ago, slowing from 2.9% in October. Industrial production also missed estimates, climbing 4.8% versus expectations for a 5% jump. Alibaba edged 3% lower, while Baidu shed 4%. ServiceNow — Shares shed 4% after Bloomberg News , citing people familiar with the matter, reported that the software platform has engaged in talks to acquire cybersecurity firm Armis for around $7 billion. iRobot — The maker of Roomba vacuum robots plummeted 72% after the company declared bankruptcy over the weekend. Through the Chapter 11 process, Hong Kong-based Picea will acquire iRobot. — CNBC’s Scott Schnipper contributed reporting.
Post Comment