Here are some of the companies making headlines in midday trading. Stryker – The medical equipment maker dropped more than 7% after management said Stryker’s peripheral vascular business is suffering from supply constraints that are expected to act as a headwind through the third quarter and into the fourth quarter of the year. Amgen – The biotech stock slid almost 10%. Rival Novartis’ cholesterol drug pelacarsen fell short in a closely watched study. In turn, this lowered traders’ expectations for Amgen’s olpasiran ahead of late-stage data due in 2027 or early 2028. BMO Capital Markets also cut its rating on Amgen to market perform, but kept its price target at $450, suggesting upside of just 3%. Qualcomm – The chipmaker jumped 4%. Qualcomm entered a data center infrastructure partnership with Amazon Web Services. As part of the deal, Qualcomm said it issued Amazon warrants to buy 25 million shares for $4 billion. Artificial intelligence infrastructure – Shares of companies linked to the AI buildout surged after OpenAI released its GPT-6 Astra large language model late last week. CoreWeave climbed almost 15%, while photonics stocks Lumentum and Coherent gained 12% and 9%, respectively. Fiber optic provider Corning and AI cloud play Nebius were each up 10%. Travel stocks — Shares of travel and lodging companies slid as gasoline futures rose. Expedia Group and Booking Holdings fell 6% and 5%, respectively. Tripadvisor and Airbnb dropped about 3%. Gasoline futures for October delivery were last up about 2%. Roivant Sciences — Shares rallied about 20% after the pharmaceutical company said Phase 2 trial results for subsidiary Pulmovant’s mosliciguat demonstrated “a clinically meaningful and statistically significant placebo-adjusted reduction in pulmonary vascular resistance” in patients with pulmonary hypertension with interstitial lung disease. Lockheed Martin — The defense contractor added about 3% after UBS upgraded Lockheed to buy from neutral, citing underappreciated earnings growth potential . Novartis — The Swiss drugmaker tumbled 13% after Phase 3 results showed its del-desiran drug led to no significant improvement in patients with myotonic dystrophy type 1. This trial result was the third drug-trial disappointment for the company in a week. Peloton Interactive — Shares slid more than 5% after Morgan Stanley downgraded its investment recommendation to underweight from equal weight. “PTON is facing structural headwinds in fitness,” the investment bank said. Boston Scientific — The medical device maker dropped 5% after BSX said a recent cyberattack likely hurt sales and profit targets for 2026 . Bloom Energy – The fuel-cell manufacturer jumped 10% in advance of joining the S & P 500 on Sept. 21. Bloom has been a major beneficiary of the AI data center buildout. Its shares are almost a triple this year, soaring about 190%. Quantum computing stocks – The quantum computing sector rallied after the U.S. agreed to take minority equity stakes in several companies as part of a $300 million CHIPS Act deal. The investments are in D-Wave Quantum , Rigetti Computing and Quantinuum . D-Wave gained more than 7%, Rigetti rose 4% and Quantinuum added 3%. —CNBC’s Christina Cheddar Berk, Nick Wells and Darla Mercado contributed to this report.
