Check out the companies making the biggest moves at noon: Brain — AI platform stocks soared 62% after the company launched Aria, an AI agent designed for the real estate industry. “We believe this creates a scalable, recurring software opportunity in a global real estate software market expected to reach approximately $32 billion by 2033,” CEO Natraj Balasubramanian said in a statement. AppLovin — The software stock fell 12%, making it the worst-performing S&P 500 stock to begin the week. This decline puts AppLovin on pace for daily losses for the sixth time in seven sessions. Biogen — Shares rose about 2% after Trust changed the biotech’s name from hold to buy. Trust said the stock could rise after Biogen releases updated data from its investigational drug trial. Nio — The China-based electric car company’s U.S.-listed shares rose 3%. Goldman Sachs upgraded the stock to buy from neutral, saying Nio should deliver rapid volume growth, a premium margin profile, and strong earnings and positive free cash flow this year. The new $7 price target suggests a 46% upside from Friday’s closing price. SpaceX — Elon Musk’s rocket company has fallen to a post-IPO low, inching closer to its public offering price of $135. The stock fell nearly 4% in intraday trading and has fallen more than 13% in the past week. The drop in stock prices came even as the Federal Aviation Administration announced it had concluded its investigation, clearing the way for SpaceX to conduct flight tests as early as this week. SK Hynix — The South Korean semiconductor maker’s U.S.-listed shares plunged 8% after listing on the Nasdaq on Friday, but at one point soared nearly 13%. The company’s Seoul-listed shares fell more than 15%, marking its worst day ever. Memory and chip stocks — The group was under pressure as investors reconsidered the viability of artificial intelligence trading. The Round Hill Memory ETF (DRAM) was down 12% for SanDisk and 9%, while Western Digital and Micron Technology were down 6% and 4%, respectively. Meanwhile, the iShares Semiconductor ETF (SOXX) fell 4%, Intel fell more than 5% and Advanced Micro Devices fell 3%. MGM Resorts International — The hospitality company rose more than 1% after the Wall Street Journal reported the company was in private talks with Barry Diller. Dillard’s People made an offer to buy the company in early June, but MGM has yet to formally respond to the offer. ENERGY STOCK — Shares of energy companies rose as oil prices rose more than 4% after President Donald Trump reinstated a blockade on Iranian shipping in the Strait of Hormuz. Valero Energy rose 4% and ConocoPhillips rose nearly 3%. APA rose 2.5%, while Exxon Mobil and Chevron rose 3% and 2%, respectively. Shopify, Deckers Outdoor Group — Shares of both companies rose after Jefferies upgraded the stock to buy. Analysts said Shopify has strong fundamentals and agent commerce is a long-term tailwind. He also said Deckers has upside potential thanks to product innovation at its sportswear brand Hoka. Shopify rose 2% and Deckers rose 2%. —CNBC’s Michelle Fox, Christina Cheddar Burke, Alex Harring and Fred Imbert contributed reporting.
