Market Insider

Market Insider

Top Stocks Making Big Moves Midday: SpaceX, Lumentum, Diamondback Energy, J.B. Hunt & More

Here are some of the companies making headlines in midday trading. Artificial intelligence infrastructure – Shares of companies involved in the AI buildout jumped following several losing sessions. AI cloud computing play CoreWeave jumped more than 4% and Nebius rose nearly 5%, putting both stocks on track to snap a five-day slide. Photonics plays Lumentum and Coherent rose 8% and 6%, respectively, while Dell advanced 5%. SpaceX – Shares of Elon Musk’s rocket company advanced 5%. SpaceX announced the next test for its Starship rocket, set for launch Sept. 22. In this flight, the company also plans to deploy Starlink V3 satellites. Honeywell Technologies – The developer of automation solutions jumped almost 3%. In a presentation at Morgan Stanley’s Laguna Industrials Conference, leadership said that strong second-quarter orders and a solid start to the third quarter are supporting a favorable setup heading into year end and 2027. FTAI Aviation – The supplier of aircraft engines added 5% after announcing that its board approved a $500 million share buyback program. SK Hynix, Intel — The chipmakers rose after a Reuters report that SK Hynix was in talks with Intel to manufacture memory chips in the U.S. for the first time. SK Hynix added 2%, while Intel jumped 5%. SK Hynix said that no decisions have been made regarding any partnership with Intel. J.B. Hunt Transport Services — Shares of the transportation and logistics company slid nearly 13% after the company warned that its earnings may tumble in the third quarter between 5% to 10%, compared to the previous three-month period. J.B. Hunt said the decline has been due to internal adjustments to account for rising rates of purchase transportation. Expedia — The online travel company slipped about 1% after Morgan Stanley downgraded the stock to underweight. Analysts at the bank said shares have a weak risk/reward profile, particularly with greater exposure to a potentially weaker consumer. Energy stocks — U.S. oil prices fell more than 3% after a report said energy inventories rose last week, sending energy stocks lower. Diamondback Energy declined 8%, while Occidental Petroleum was off 5%. ExxonMobil lost nearly 3%, and Devon Energy dropped 4%. —CNBC’s Nick Wells and Darla Mercado contributed reporting.

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