Check out the companies making the biggest moves at noon: Alkermes — The biotech company fell 9% as traders weighed Phase 2 trial results for the company’s ALKS 2680 drug, aimed at treating narcolepsy. The company plans to advance the drug into Phase 3 trials, but higher dose ranges or split dosing regimens may be needed to achieve efficacy in some patients. Bank stocks — Bank stocks rose broadly as Treasury yields fell, pushing the Dow Jones Industrial Average to an all-time high. Goldman Sachs and JPMorgan Chase rose 3.8% and 1%, respectively. Financial Select Sector SPDR Fund (XLF) rose 1%. RXO — Shares rose 6%, up from 5.7% on Tuesday. The stock price soared after Morgan Stanley upgraded the stock from equal weight to overweight. Wednesday’s move put freight forwarders on pace for their best day in more than a month. GlobalFoundries — Shares fell more than 3% even though third-quarter profits beat expectations. The semiconductor maker posted earnings of 41 cents per share, excluding certain items, on revenue of $1.69 billion. Analysts surveyed by FactSet had expected revenue of $1.68 billion and earnings of 38 cents per share. Nextracker — the solar power technology platform has rebranded to Nextpower and announced expected revenues of $4.8 billion to $5.6 billion by 2030. The company also reaffirmed its full-year outlook for 2026. The stock price fell nearly 9%. Advanced Micro Devices — The chipmaker soared 9% in response to solid long-term growth targets laid out at Financial Analyst Day, including internal projections for the company’s data center revenue to grow 60% annually over the next three to five years. BILL Holdings — Bloomberg reported early Wednesday that the financial services firm is considering a potential sale to a major industry rival or private equity firm, pushing BILL stock up nearly 12%. Clearwater Analytics — Shares rose 9% after Bloomberg reported early Wednesday that the cloud-native platform company was considering a potential sale. Affirmed — The Swiss athletic shoe maker soared 19% after raising its outlook for the third straight quarter and beating revenue and profit expectations. Ong also said there was no need to rely on Black Friday promotions to boost demand. BigBear.AI — AI defense stock soared 13%, extending gains from Tuesday, when the stock rose more than 6%. On Monday, BigBear.AI announced its latest earnings, including a definitive agreement to acquire Ask Sage, a generative AI platform. Alcon — The Swiss eye care company’s third-quarter adjusted earnings of 79 cents a share beat the 76 cents expected by analysts surveyed by FactSet, sending the U.S.-listed stock up 4%. Although quarterly sales were below consensus estimates, Alcon reaffirmed its top-line and bottom-line guidance. Sony — The games and software company rose 3.6% after the game and software company said the tariff burden would likely represent about $324 million in operating profit for the year ending March, or nearly 30% less than previously expected. Oklo — Nuclear technology company expands collaboration with Idaho National Laboratory. 5.5%. Circle Internet — Shares fell 11% even though the stablecoin issuer announced better-than-expected earnings and revenue. Circle also reported that it accounts for 29% of the stablecoin market. Circle’s stock price has fallen 40% in the past three months. — CNBC’s Sarah Min, Alex Harring, Michelle Fox, Liz Napolitano, Itzel Franco and Christina Cheddarburg contributed reporting.
