Here are some of the companies making headlines in midday trading. Memory chip stocks and ETFs — Seagate Technology slumped 9.1%, Western Digital tumbled 6.9%, Roundhill Memory ETF (DRAM) slipped 2.2% and SanDisk fell almost 2% as investors reassessed the outlook for demand and profits stemming from the data center boom. Artificial Intelligence plays — Ciena jumped 11.3%, Nebius Group climbed 9.5%, Astera Labs by 7.5% and CoreWeave was ahead 4% as enthusiasm returned Tuesday to stocks tied to the AI buildout. Moderna , Novavax — Both stocks pulled back, reversing some of the sharp gains made of late. Moderna traded 6% lower, while Novavax declined by 10%. Despite those declines, Moderna remained more than 130% higher over the past three months, while Novavax was up nearly 20% over that time. Vistra — Shares rallied 12% after the Energy Department unveiled a $4.2 billion nuclear investment in Pennsylvania and Ohio. The department said this “will deliver more reliable American energy, strengthen the grid, lower costs, and meet growing power demand.” Marvell Technology — The chip company jumped after Marvell rolled out a rosy long-term revenue outlook at its Investor Day event. The company sees revenue in fiscal 2028 coming in at $20 billion, while analysts polled by FactSet sought $18.17 billion. The company also sees fiscal 2031 revenue in a range of $70 billion to $90 billion, compared to the consensus call for $47.04 billion. Lamb Weston — The producer of potato products saw shares rise more than 11%. Lamb Weston reported adjusted earnings of 75 cents per share on $1.67 billion of revenue in the first quarter, topping the FactSet consensus call for 59 cents a share and $1.65 billion. The company also lifted its fiscal year adjusted earnings per share to a range of $3.05 to $3.35 per share from its earlier call for $2.95 to $3.25 per share. Cybersecurity stocks — The Global X Cybersecurity ETF (BUG) headed for a seventh consecutive winning day and hit another all-time high as investors snapped up cybersecurity names. Zscaler and Palo Alto Networks jumped around 3%, while CrowdStrike advanced close to 2%. Constellation Energy , Alphabet — Alphabet shares were slightly higher on the day, while Constellation Energy jumped 14%, after Google announced a major long-term power agreement with the power company. Google will buy power tied to 890 megawatts of new nuclear capacity, alongside a separate 2,700-megawatt supply agreement, supporting more than $4.3 billion in new Constellation investment. Option Care Health , McKesson — Shares of Option Care surged more than 30% following a report in the Financial Times that health care services company McKesson and private equity firm Clayton Dubilier & Rice are in advanced talks to jointly acquire the infusion services provider in a transaction valued at more than $5 billion. McKesson stock traded marginally higher. Lennar , Berkshire Hathaway — In a regulatory filing, Berkshire Hathaway disclosed it purchased about 2.4 million shares of Lennar. The homebuilder gained nearly 4%, while Berkshire Hathaway was fractionally higher. Advanced Micro Devices — The chipmaker rose almost 4% after Citi raised its price target to $800, signaling more than 26% upside from Monday’s close. The bank pointed to greater CPU demand, driven by Meta’s Muse AI agent, for the target change. “AMD will be the primary beneficiary of the CPU renaissance,” Citi said. Procter & Gamble — Shares of the household goods company rose 2.5% after Evercore ISI upgraded the stock to outperform from in line. The firm also raised its price target to $166, from $161 previously, implying about 14% upside from Monday’s close. Corteva — Corteva shares surged 12% after JPMorgan upgraded the stock to overweight from neutral. It has a $19 price target on shares, implying 53% upside from Monday’s close. The bank said Corteva’s sharper focus on crop chemicals, along with improving agricultural commodity prices, should help drive the stock higher. — CNBC’s Nick Wells, Scott Schnipper, Fred Imbert, Paulina Likos and Deena Zaidi contributed reporting
