Stocks Making Significant Moves Midday: Netflix, Xenon Pharmaceuticals, Coinbase, Sandisk, SpaceX Among Others
Several stocks experienced notable movements in midday trading on Friday. SpaceX shares fell nearly 2% after delaying its Starship launch to September 28 from the previously announced date of September 22. Rocket Lab and Intuitive Machines also declined over 5%. In contrast, chip stocks saw gains with Applied Materials up 4%, Lam Research rising 5%, Broadcom climbing more than 2%, Sandisk surging 7%, and Seagate Technology increasing by 4%. Steel producers Steel Dynamics and Nucor both dropped after reporting weaker-than-expected third-quarter earnings guidance. Netflix shares fell nearly 5% following a downgrade from Wells Fargo due to concerns over engagement trends and future content performance. Xenon Pharmaceuticals plummeted 30% as it paused enrollment in clinical trials for depression treatments due to neuropsychiatric side effects. Cryptocurrency stocks rose alongside Bitcoin's surge past $80,000, with Robinhood up nearly 8%, Coinbase rising almost 11%, and Strategy increasing by over 12%. Macom Technology Solutions gained 4% after BMO Capital Markets upgraded its stock to outperform.
Tickers: $AMAT $AVGO $COIN $HOOD $INTU $LRCX $LUNR $MCHP $MSTR $NFLX $NUE $RKLB $SD $SDS $SMH $SNDK $SPCE $STLD $STX $WDC $WFC $XENE
Topics: chip stocks cryptocurrency Netflix SpaceX steel producers Xenon Pharmaceuticals