Here are some companies that are making headlines in intraday trading. Memory stocks – Shares of memory chip companies fell after China’s CXMT announced it would start producing next-generation memory chips that will compete for market share with U.S. and Korean companies. Micron Technology is down about 3%, as is Seagate Technology. Western Digital fell more than 2% and SanDisk fell more than 5%. The Round Hill Memory ETF (DRAM) fell 4%. eBay — The e-commerce company surged more than 5% after Morgan Stanley named eBay a top pick and raised its price target to $132, suggesting it has nearly 18% upside potential. The company estimates that the $27 billion live sales market, which sells products in real time through live streams, is “driving more than 40% of EBAY’s growth.” Meta Platform — Shares rose more than 3% after Meta announced a new artificial intelligence model called Muse Wonder. Speculation about the development of the codename “Watermelon” heated up early Monday morning after MetaAI head Alexander Wang posted on social media platform Optical Stocks — Investors took away a few chips last Friday after the artificial intelligence play rallied. Siena fell more than 8% and Lumentum fell 9%. Applied Optoelectronics fell 6%. Salesforce — Shares rose nearly 2% after Bank of America upgraded the stock to buy from underperform. The bank argued that artificial intelligence should not cause confusion, but rather “deepen reliance” on software names. First Solar — Shares rose 2% after Truist changed Solar’s name from hold to buy. The bank is confident in the growth and strong demand in the solar market over the coming years and in First Solar’s pricing power in the industry. Biogen — Biogen shares rose nearly 4% after JPMorgan analysts upgraded the biotech’s name from neutral to overweight. The company cited several clinical results in 2027 as catalysts for Biogen. SLM — Shares rose 4% after the education loan manager was upgraded from equal weight to overweight by Morgan Stanley. Morgan Stanley called the stock’s 15% decline since the beginning of the year a buying opportunity given its favorable valuation. Mattel — The toy maker rose 1% after Seaport analysts upgraded the stock to buy from neutral. Amid speculation about a possible takeover, “investors are keeping an eye on toy stocks, perhaps realizing they are undervalued,” the research firm wrote. IonQ — Shares fell more than 8% after the company acquired cybersecurity company Elisity for $1.3 billion. Quantum computing stocks Righetti Computing and DWave Quantum fell in line, each dropping about 5%. —CNBC’s Nick Wells and Tom Rotunno contributed reporting.
