Check out the companies that made the biggest moves midday: Dick’s Sporting Goods — Shares plunged more than 27% after the sporting goods retailer’s earnings disappointment. The company cited the “challenges” of the footwear market as the reason. Dick’s had sales of $5.59 billion, below the $5.65 billion expected by analysts polled by LSEG. Stock prices were trending at the worst pace in history. Dynatrace — shares of the AI-powered observability platform rose 3% on the back of Morgan Stanley’s upgrade to Overweight. The investment bank believes demand should drive growth and profit expansion of at least 20% for Dynatrace over the next few years. Shift4 Payments — Shares rose nearly 4% after Wells Fargo upgraded Shift4 Payments from equal weight to overweight on Tuesday, citing “improved settings” since the second quarter. Wells Fargo noted that the company, which provides software and payment processing solutions, has multiple expansion opportunities. Moderna — Shares of the biotech giant rose 13%, building on strong gains from last week, when the stock more than doubled. On Tuesday, Wolf Research upgraded the stock to peer perform, citing positive trial results for a cancer vaccine co-developed with Merck & Co., which beat last week’s results. “We expect MRNA to trade primarily around the confidential narrative in the near term, and we expect the excitement and momentum from specialists, generalists and individual investors alike to continue,” said Alexandria Hammond, an analyst at Wolf. Marvell Technology – Shares of the semiconductor maker rose 5% after several Wall Street companies raised their price targets. Susquehanna raised its target price from $230 to $265, pointing out that “the long-term story of ‘custom XPU’ is also brightening as we expand our partnership with Google.” Rosenblatt also raised his price target from $240 to $300. Marvell is scheduled to report earnings on Thursday. Advanced Micro Devices — Chip shares rose 5% after Raymond James upgraded the semiconductor company from outperform to strong buy with a new price target of $641, suggesting a 40% upside from Monday’s closing price. Analysts expect AMD to overtake Intel in the central processing unit market. Semiconductors — Chip stocks rose as a group, with Intel stock rising more than 1% along with Nvidia stock. The VanEck Semiconductor ETF (SMH) rose more than 1%. Kura Oncology — The biotech stock rose nearly 10% after CEO Troy Wilson disclosed in a regulatory filing that he had bought 100,000 shares of common stock. Navitas Semiconductor — Shares rose 5% after Navitas Semiconductor announced it would power management solutions company Claros in a deal valued at $232.8 million in cash and stock. —CNBC’s Michelle Fox, Ananya Chettiar, Fred Imbert and Darla Mercado contributed reporting.
