Stocks Making Significant Moves Midday: ASML, SK Hynix, SAP, Forte Bio and More
Several stocks experienced notable movements midday. ASML fell 8% after reports indicated China began mass production of domestic deep ultraviolet chipmaking tools, potentially affecting demand for its equipment. Memory chip stocks saw mixed reactions; while CXMT surged over 466%, SK Hynix and SanDisk declined by more than 8% and 11%, respectively. SAP shares rose nearly 7% as the company announced it would begin a second phase of an €10 billion stock buyback. Forte Biosciences jumped about 40% after agreeing to be acquired for $2.2 billion by Argenx, while Rivian Automotive gained 5% following a positive upgrade from Piper Sandler.
Tickers: $AMKR $APA $ARGX $ASML $BFAM $BKR $CVX $DVN $FBRX $IONQ $MU $RGTI $RIVN $SAP $SKHYV $SNDK $XOM
Topics: ASML Baker Hughes earnings Brown-Forman takeover rejection energy stocks Forte acquisition memory chips Rivian upgrade SAP buyback