Here are some companies that are making headlines in intraday trading. Cisco Systems — Shares fell 2% after HSBC downgraded the networking equipment maker and lowered its price target from $137 to $120. “We have downgraded our rating to hold (from buy) as we believe there is better value elsewhere,” analyst Abhishek Shukla said. “We believe valuation multiples may come under pressure as growth slows sequentially starting in the second quarter of 2027.” Drone stocks — Shares of unmanned aircraft manufacturers rose on Friday after President Trump imposed import duties on foreign-made drones and parts. Unusual machines rose 24%. The president’s son, Donald Trump Jr., joined Unusual Machines’ advisory board in 2024. Red Cat soared 8% and Aerovironment jumped 2%. Intuitive Machines — the maker of robotic spacecraft and landers aimed at flying to the moon — saw its stock rise 10%. Houston-based Intuitive said its backlog had grown to $1.55 billion as of June 30 from Dec. 31, and Stifel Financial upgraded the stock from hold to buy with a price target of $26, according to FactSet’s Street Accounts service. Fox Corp. — Media stock rose 5% following upgrades to overweight from JPMorgan and Wells Fargo. JPMorgan’s David Karnofsky noted that Fox had agreed to acquire Roque as one of the driving forces. “Based on strategic and revenue synergies, we believe there is a strong path for Fox to apply its advertising scale and expertise to a broad range of households on Roku,” he wrote. York Space Systems — Shares of the maker of small satellites for the military and government fell 12%. York’s second-quarter earnings per share fell short of analysts’ expectations, and the Denver-based company lowered its full-year outlook, according to FactSet data. York decried the fact that “new business revenue will disappear in 2026, given changes in government acquisition methods.” Reddit — Stocks rose 12% after S&P Dow Jones Indices announced the social media platform would join the S&P 500 starting Aug. 18. Reddit will replace AvalonBay Communities, which is merging with Equity Residential. Applied Materials — Shares fell 5% after the semiconductor equipment maker’s second-quarter results failed to impress investors. The company had adjusted earnings per share of $9.12 billion and profit of $3.50. Semiconductor Systems’ sales were $7.04 billion, slightly above the FactSet consensus of $6.96 billion. Wayfair — Shares rose 1% after Bernstein upgraded the online furniture retailer’s rating to outperform market performance. “Wayfair is delivering (high-single-digit) revenue growth in the U.S. in a slow-growing furniture market,” the company’s analysts wrote. Workday — The stock recently fell more than 3% as traders piled on profits. Workday rose nearly 18% on Thursday, its best deal in a decade, after Reuters reported that private equity firm Silver Lake was in talks to buy the company. SanDisk — Shares rose 6% after JPMorgan analysts upgraded SanDisk from neutral to overweight. “SanDisk’s ‘new business model’ long-term contracts have structurally repositioned its margins and made them significantly less cyclical by converting a large portion of its business into long-term, high-margin take-or-pay revenues,” the analyst said. —CNBC’s Scott Schnipper and Darla Mercado contributed reporting.
