Midday Market Movers: Energy Stocks Rise Amid Geopolitical Tensions; Chipotle Surges on Acquisition Rumors
Energy stocks saw gains midday as oil prices climbed following increased attacks by Iran on tankers in the Strait of Hormuz. Marathon Petroleum and APA rose over 4%, while Chevron gained more than 2%. In retail, Chipotle Mexican Grill shares surged over 6% after reports that Starbucks had explored acquiring it; however, Starbucks' stock fell nearly 5%. Skydance, a new media company formed from Paramount's deal with Warner Bros. Discovery, climbed over 4% following positive comments from co-CEO David Ellison. Levi Strauss shares dropped for the second consecutive day as the denim brand cut its full-year revenue growth forecast to 7%, at the lower end of previous guidance. AI-related stocks faced a sell-off, with ETF BAI down more than 1%. Semiconductor manufacturer GlobalFoundries rose nearly 5% after securing a $2 billion contract with TSMC for silicon interposers starting in early 2028. Haemonetics surged over 16% as CSL plans to roll out its plasmapheresis platform across the U.S. Broadcom shares fell slightly amid reports of arranging financing for AI chip development, while Palantir Technologies bucked market trends with a more than 2% rise after Goldman Sachs upgraded it. Applied Digital dropped nearly 2%, despite strong Q1 revenue growth.
Tickers: $ADT $APA $APLD $AVGO $BAI $BEEM $CMG $COHR $CVX $FANG $GFS $HAE $LEVI $LITE $MPC $MPW $PLTR $SBUX
Topics: consumer_discretionary energy healthcare media semiconductors
Part of the story Chipotle Surges on Starbucks Takeover Rumors (7 articles)