Stocks Making Significant Moves Midday: Caterpillar, Vertiv, SoFi Technologies, AMD and Others
Midday trading saw significant movements in several stocks across various sectors. AI infrastructure companies like Nebius, Lumentum, CoreWeave, and others fell sharply amid concerns over debt accumulation by AI firms and backlash against data centers. Lemonade dropped nearly 22% due to a sharp rise in second-quarter spending, while SoFi Technologies declined despite beating earnings expectations. Caterpillar shares slid after an analyst downgrade citing growing investment hurdles for the sector. The semiconductor industry continued its downturn with VanEck Semiconductor ETF (SMH) falling almost 4%, and major players like AMD, Broadcom, and Nvidia also seeing declines. On a positive note, Mondelez surged over 4% due to better-than-expected earnings and revenue results. Biogen rose after beating Wall Street estimates on both the top and bottom lines. Other notable movers included Vertiv tumbling nearly 16%, Procter & Gamble dropping more than 2% as it missed revenue expectations, GE HealthCare rising over 10%, Ford climbing due to better-than-expected earnings despite lower automotive sales, Rocky Brands surging on strong growth and tariff refunds, while PPG Industries fell after missing estimates.
Tickers: $AMD $AVGO $BIIB $CAT $F $KLAC $LII $LITE $LMND $MDLZ $NVDA $PG $PPG $RCKY $SMH $SOFI
Topics: AI infrastructure downgrades insider sales Q2 earnings revenue guidance