Akamai Technologies, Inc.

NASDAQ Global Select
Back to all articles
Bullish +55

Stocks making the biggest moves midday: Akamai Technologies, Micron, Nebius, Alibaba & more

AI-generated analysis

🚀 Akamai Technologies shares jumped nearly 7% after Bank of America upgraded the stock to a buy rating and raised its price target from $130 to $175.

🤖 Nebius surged 16% with first-quarter revenues reaching $399 million, a 684% surge year-over-year driven by demand for cloud and GPU capacity.

⚡ Nebius announced it has secured up to 1.2 gigawatts of power and land for a new AI factory in Pennsylvania.

☁️ Alibaba's U.S.-listed shares rose 6% after reporting a 38% jump in first-quarter revenue for its cloud computing unit.

📉 Birkenstock fell more than 10% after missing estimates on both earnings and revenue in its fiscal second-quarter report.

🏠 Resideo Technologies shares plunged 17% after guiding for current-quarter adjusted earnings between 71 to 75 cents, below the 84-cent analyst expectation.

📉 Resideo also sees revenue falling between $1.916 billion and $1.940 billion, versus the $2.01 billion analyst consensus.

💻 Wix.com plunged 30% after adjusted earnings of 68 cents per share came in significantly lighter than the expected $1.24 per share.

📈 The VanEck Semiconductor ETF (SMH) was up more than 1%, with Micron jumping about 3% and Nvidia last up 2%.

🌐 EchoStar shares rose 4% after the FCC approved its $40 billion sale of wireless spectrum to AT&T and SpaceX.

Bullish Signals
  • Bank of America upgraded Akamai Technologies to a buy rating and lifted its price target from $130 to $175, citing a shift toward AI infrastructure.
  • Nebius reported first-quarter revenues of $399 million, reflecting a 684% surge from the year-ago period.
  • Nebius secured up to 1.2 gigawatts of power and land for a new AI factory in Pennsylvania.
  • Alibaba's cloud computing unit saw a 38% jump in first-quarter revenue from a year earlier.
  • Nextpower raised its full-year revenue guidance to a range of $3.8 billion to $4.1 billion, beating previous estimates.
  • Nextpower posted a fiscal fourth-quarter adjusted earnings and revenue beat versus analysts' expectations.
  • Photonics stocks like Coherent rose 6% as the AI trade supported optical networking names.
Risk Factors
  • Birkenstock fell more than 10% after missing estimates on both earnings and revenue in its fiscal second-quarter financial report.
  • War in the Middle East weighed on Birkenstock's growth in the Europe, Middle East, and Africa region.
  • Resideo Technologies guided for current-quarter adjusted earnings between 71 to 75 cents per share, below the 84-cent analyst expectation.
  • Wix.com plunged 30% after adjusted earnings of 68 cents per share came in lighter than the expected $1.24 per share.
Full Analysis
Midday trading saw significant movement in several technology stocks, driven by upgrades, earnings beats, and strategic announcements. Akamai Technologies shares jumped nearly 7% after Bank of America upgraded the stock to a buy rating and raised its price target from $130 to $175. The analyst firm noted a fundamental shift in Akamai's narrative, viewing it as a credible AI infrastructure platform rather than just a legacy delivery network. Other notable movers included Micron Technology, which rose about 3% alongside the broader semiconductor rally, and Nebius, an artificial intelligence cloud company that surged 16%. Nebius reported first-quarter revenues of $399 million, a massive 684% increase from the prior year, and secured up to 1.2 gigawatts of power for a new AI factory in Pennsylvania. Alibaba's U.S.-listed shares climbed 6% following a report that its cloud computing unit saw a 38% jump in first-quarter revenue. In contrast, other stocks faced headwinds; Birkenstock fell over 10% after missing earnings estimates, while Resideo Technologies plunged 17% due to lowered guidance for current-quarter adjusted earnings and falling revenue. The article highlights a mixed market environment where AI-related names like Akamai, Nebius, and Alibaba gained momentum on strong fundamentals and strategic upgrades. Conversely, companies facing macroeconomic headwinds or missing financial expectations, such as Birkenstock and Resideo, experienced sharp declines. The broader semiconductor sector also participated in the rally, with VanEck Semiconductor ETF rising over 1%.