Stocks making the biggest moves midday: Cerebras, Microsoft, ServiceNow, Papa John's & more
📈 Microsoft shares rose nearly 4% after Bill Ackman disclosed accumulating stock following its Q2 earnings report.
🤖 ServiceNow's stock gained almost 5% amid a new multiyear partnership with Experian to develop autonomous AI agents.
📉 Ford shares fell about 7% as investors reassessed its battery storage ambitions despite recent price surges.
💻 Semiconductor stocks declined, causing the iShares Semiconductor ETF to break a six-week winning streak.
📉 Intel's stock tumbled nearly 7%, while ASML and Arm dropped around 5% and 8%, respectively.
🍦 Starbucks shares increased slightly after announcing layoffs of approximately 300 U.S. corporate employees.
🎨 Figma saw a nearly 9% surge in its stock after posting better-than-expected Q1 earnings and revenue.
🍦 Magnum Ice Cream stock jumped over 17% following reports that Blackstone and CD&R may bid for the company.
💉 DexCom shares rose nearly 8% after agreeing to identify new independent directors with Elliott Investment Management.
🍕 Papa John's International stock gained more than 4% after a franchisee reportedly looked to take the company private.
🚀 Gemini Space Station shares surged 10% on a $100 million strategic investment from Winklevoss Capital Fund.
💰 Freeport McMoRan shares fell nearly 5% as broad metal price declines affected gold, silver, and copper.
- Microsoft shares rose nearly 4% after Pershing Square's Bill Ackman disclosed accumulating stock ahead of the company's quarterly 13F filing, citing a 'highly compelling' valuation despite recent earnings volatility.
- ServiceNow stock surged nearly 5% following a multiyear partnership with Experian to develop autonomous AI agents, highlighting strong AI sector growth potential.
- Figma shares jumped nearly 9% after beating analyst expectations with adjusted first-quarter earnings of 10 cents per share (versus 6 cents expected) and revenue of $333 million (versus $313 million expected).
- Magnum Ice Cream stock jumped more than 17% amid takeover speculation, with Blackstone and CD & R reportedly considering bids after the company's strong market position.
- DexCom shares rose almost 8% following an agreement to identify two new independent directors on its board with Elliott Investment Management, signaling improved corporate governance.
- Papa John's International stock jumped more than 4% after reports that a large franchisee is working to take the company private through Irth Capital and other partners.
- Gemini Space Station shares surged 10% after announcing a $100 million strategic investment from Winklevoss Capital Fund and beating first-quarter revenue expectations.
- Applied Materials shares fell about 2% despite reporting fiscal second-quarter results that beat expectations on the top and bottom lines, with earnings of $2.86 per share on revenue of $7.91 billion, suggesting potential market skepticism around future growth despite strong quarterly performance.
- A slew of semiconductor stocks were lower as the iShares Semiconductor ETF was on pace to break a six-week win streak, with Intel tumbling nearly 7% and ASML down about 5%, indicating sector-wide pressure in midday trading.
- Ford shares fell about 7% after its stock had popped more than 20% in recent sessions as investors caught on to its battery storage ambitions tied to the broader AI trade, with analysts warning that recent gains appear driven more by enthusiasm around the planned business than to any near-term fundamentals.
- Cerebras Systems shares fell 5% after surging 68% Thursday in its Nasdaq debut, indicating a sharp pullback in investor sentiment following an initial spike.
- Freeport McMoRan shares of the miner fell almost 5% as metals sold off across the board in Friday trading, with precious metals gold and silver falling around 3% and 9%, respectively, and industrial metal copper tumbling nearly 5%.
