Here are some companies that are making headlines in intraday trading. Memory chip stocks and ETFs — Seagate Technology fell 9.1%, Western Digital fell 6.9%, Round Hill Memory ETF (DRAM) fell 2.2% and SanDisk fell nearly 2% as investors reassessed the outlook for demand and profits from the data center boom. Artificial Intelligence Trends — Enthusiasm returned to stocks related to AI development on Tuesday, with Ciena surging 11.3%, Nebius Group up 9.5%, Astera Labs up 7.5% and CoreWeave leading 4%. Moderna, Novavax — Both stocks have rallied, reversing some of their recent gains. Moderna fell 6% and Novavax fell 10%. Despite these declines, Moderna remains up more than 130% over the past three months, while Novavax is up nearly 20% in that time. Vistra — Shares rose 12% after the Department of Energy announced $4.2 billion in nuclear power investments in Pennsylvania and Ohio. The department said this would “provide America with more reliable energy, strengthen the power grid, reduce costs, and meet growing electricity demand.” Marvell Technology — The chip company soared after Marvell announced a rosy long-term earnings outlook at its Investor Day event. The company expects sales of $20 billion in fiscal 2028, compared with the $18.17 billion expected by analysts polled by FactSet. The company also expects fiscal 2031 revenue to be in the range of $70 billion to $90 billion, compared to the consensus estimate of $47.04 billion. Lamb Weston — Shares of the potato products producer rose more than 11%. Lamb Weston reported adjusted earnings of 75 cents per share on revenue of $1.67 billion in the first quarter, beating the FactSet consensus call of 59 cents per share and $1.65 billion. The company also raised its adjusted earnings per share for the fiscal year to a range of $3.05 to $3.35 per share, up from its original estimate of $2.95 to $3.25 per share. Cybersecurity Stocks — The Global Zscaler and Palo Alto Networks rose about 3%, while CrowdStrike rose nearly 2%. Constellation Energy, Alphabet — Alphabet stock rose slightly on the day after Google announced a major long-term power deal with a utility, while Constellation Energy jumped 14%. Google will purchase power associated with 890 megawatts of new nuclear capacity alongside a separate 2,700 megawatt supply agreement to support investments in the new constellation in excess of $4.3 billion. OptionCare Health, McKesson — Shares in OptionCare soared more than 30% following a report in the Financial Times that healthcare services company McKesson and private equity firm Clayton Dubilier & Rice are in talks to jointly acquire the infusion services provider in a deal worth more than $5 billion. McKesson shares traded slightly higher. Lennar, Berkshire Hathaway — In a regulatory filing, Berkshire Hathaway disclosed that it purchased approximately 2.4 million shares of Lennar stock. Homebuilders rose nearly 4%, while Berkshire Hathaway rose slightly. Advanced Micro Devices — The chipmaker rose nearly 4% after Citi raised its price target to $800, representing an increase of more than 26% from Monday’s closing price. The bank noted that the change in goals would result in increased CPU demand by Meta’s Muse AI agent. “AMD will be the main beneficiary of the CPU renaissance,” Citi said. Procter & Gamble — Shares of the household products company rose 2.5% after Evercore ISI outperformed the stock historically. The company also raised its price target to $166 from $161, suggesting an upside of about 14% from Monday’s closing price. Corteva — Corteva stock rose 12% after JPMorgan upgraded the stock from neutral to overweight. The company’s price target of $19 suggests an upside of 53% from Monday’s closing price. The bank said Corteva’s increased focus on crop chemicals along with improved agricultural prices will contribute to the share price increase. — CNBC’s Nick Wells, Scott Schnipper, Fred Imbert, Paulina Ricos and Deena Zaidi contributed reporting
