Midday Market Movers: Oracle, Bloom Energy, Meta Platforms and Others
Oracle shares fell nearly 4% after the company issued a force majeure notice for its New Mexico data center project. The move is seen as an attempt to mitigate rising costs while maintaining that Project Jupiter remains on schedule. Bloom Energy also dropped almost 6%, likely due to its contract with Oracle and shared exposure in the same initiative. Meanwhile, Nebius Group rose over 6% after Bank of America upgraded revenue expectations for future years, citing strong long-term contracts and pricing advantages. Meta Platforms gained 3%, buoyed by optimism around its Muse AI agent and new product launches like VR glasses priced at $1,299. GoDaddy surged nearly 3% following a reported takeover offer from Gen Digital. Semiconductor stocks broadly declined with Arm Holdings falling about 6% after CFO Jason Child sold shares under a prearranged plan. MGM Resorts tumbled over 10% as Barry Diller's People withdrew its acquisition proposal, citing unmet expectations despite his continued stake in the company.
Tickers: $ARM $CRL $GDDY $GEN $KNF $META $MGM $ORCL
Topics: Arm Holdings Bloom Energy Charles River Laboratories Nebius Group Oracle semiconductors