Check out some of the companies making the biggest moves during the day: Metaplatform — Shares of Instagram and WhatApp’s parent company rose about 6%, extending its weekly gain to more than 14% and its highest since early 2024. The boost came from a Reuters report that Facebook aims to start mass producing AI chips in September and hints that the company’s computing costs could be lower than Wall Street expected. SK Hynix — Shares of the South Korean semiconductor company opened at $170 on the Nasdaq market, rising about 17% as U.S. investors jumped at the opportunity to acquire a stake in South Korea’s second-highest market capitalization company. The company’s American Depositary Receipts were initially priced at $149, raising $26.5 billion for aggressive expansion plans that include investments in new plant and equipment. Marvell Technology, Intel — Shares of the chipmaker fell about 3% after South Korean chipmaker SK Hynix listed on the Nasdaq. Seagate Technology — The data storage provider’s stock rose nearly 2% after Wells Fargo upgraded Seagate from equal weight to overweight. The bank said the recent pullback has created a more attractive entry point, raising its price target to $1,100 and saying that earnings per share will ultimately exceed $50, setting the stage for additional share buybacks and a dividend. WD-40 Inc. — Shares rose 10% after the household and industrial lubricant maker’s adjusted third-quarter earnings came in at $2.33 per share, beating the $1.56 expected by analysts surveyed by FactSet. The company also raised its full-year forecast. Delta Air Lines — Shares fell more than 2% after the company’s second-quarter profit beat expectations for top and bottom lines. Chief Executive Officer Ed Bastian said in an interview on CNBC that he expects the pricing power from the jump in jet fuel prices earlier this year to continue even as oil prices fall. Delta Air Lines stock has risen 14% in the past month. Circle Internet Group — Shares rose 6% after the fintech company received approval from the U.S. Office of the Comptroller of the Currency to launch a cryptocurrency-focused bank. CEO Jeremy Allaire said in a statement that the approval marks a key moment in bringing blockchain technology to the core of the financial system. Vodafone Group — The wireless provider’s U.S.-listed shares rose 13% after French billionaire Xavier Niel acquired a 16% stake in Vodafone worth about $6 billion, making him its largest holder, Reuters reported. Netflix — The streaming platform’s stock fell 3% after the Wall Street Journal reported that Netflix is considering adding live TV channels and bundling its services with other streaming services. The paper said the move comes as subscriber engagement shows signs of declining. Seagate Technology — Shares of the data storage company rose more than 2% after Wells Fargo raised its recommendation from equal weight to overweight, saying the recent market selloff created a more attractive entry point. Analysts raised their price target to $1,100, arguing that the company can achieve earnings of more than $50 per share over the long term, and that it has significant headroom for capital gains, including share buybacks and dividends. Shopify — Shares rose about 2% after Stifel Financial raised its rating to buy, saying Shopify could continue to see further stock gains in the e-commerce space. Lamar Advertising Company — The advertising company’s stock fell nearly 3% after Citigroup downgraded its recommendation from buy to neutral. Mr. Lamar expects to generate adjusted funds from operations of $8.50 to $8.70 per share in 2026, compared to Citi’s forecast of $8.72 per share. Citi said Mr. Lamar’s risk-reward profile was unfavorable. — CNBC’s Davis Giangiulio, Yun Li, Ananya Chetia and Sarah Min contributed reporting Correction: This article has been corrected to reflect that Delta Air Lines’ CEO is Ed Bastian. Previous versions misspelled Bastian’s name.
