In midday trading, several companies captured investors’ attention with significant movements in their stock prices, reflecting a mix of positive developments and market reactions.
Enphase Energy saw a remarkable surge, with its shares increasing by 10%. The global energy technology firm announced that it has commenced production shipments of its new IQ9S microinverters. Additionally, Barclays upgraded the stock’s rating from underweight to equal weight, further boosting investor confidence.
Stocks associated with artificial intelligence and data center infrastructure also experienced notable gains. Corning’s shares rose by 7%, while Credo Technology benefited with a 5% increase. Other companies in the photonics sector, such as Coherent and Applied Digital, saw their shares jump by 4% and more than 2%, respectively.
In contrast, the energy sector faced a downturn, with the S&P 500 energy stocks sliding nearly 2%. This decline followed President Donald Trump’s signing of a peace deal with Iranian President Masoud Pezeshkian, which has led to lower crude oil prices. West Texas Intermediate futures for July delivery fell to $73.58 per barrel — the lowest since early March. Major energy companies felt the impact, with ConocoPhillips and Occidental Petroleum both dropping around 3%, while Exxon Mobil and Chevron lost over 2%.
Kroger faced a setback, with its shares tumbling more than 6% after posting earnings of $1.58 per share for the first quarter, slightly below the anticipated $1.59 by analysts. Despite this, the grocery chain reported revenue of $46.12 billion for the quarter, surpassing Wall Street’s expectations of $45.59 billion.
Steel Dynamics’ stock plummeted by 7% following disappointing earnings guidance for the second quarter, projecting earnings between $3.51 to $3.55 per share, well below the FactSet consensus of $4.16.
In a more positive light, Intel’s shares soared by 10% after news surfaced of a deal with Apple to design and build chips in the United States. The excitement around Intel positively impacted other chipmakers, with Marvell Technology climbing 12%, while Lam Research and Applied Materials both saw increases of about 6%. Memory companies also performed well, with Western Digital gaining nearly 6%, Micron Technology up 8%, and Sandisk climbing approximately 11%.
Pfizer’s shares fell about 3% after the announcement of CFO Dave Denton’s upcoming departure, with Cecile Guegan stepping in as interim finance chief.
SpaceX’s stock faced a decline of almost 10%, following a roughly 5% loss the previous day. Despite this pullback, the stock had enjoyed a successful debut last Friday, soaring nearly 50% from its initial public offering price over the following sessions.
Accenture’s shares tumbled 17% after the company disclosed plans to acquire asset intelligence firm runZero, software supply chain security provider NetRise, and a majority stake in cybersecurity firm Dragos. The total value of these combined acquisitions is roughly $4.175 billion.
Conversely, cruise operators benefitted from dropping oil prices, with Carnival advancing nearly 4% and both Royal Caribbean and Norwegian Cruise Line seeing increases of more than 4%. Airlines also experienced gains due to lower oil costs, with United Airlines, Delta Air Lines, and American Airlines all rising over 2%.
Lastly, gunmaker Smith & Wesson saw its stock surge about 20% after reporting earnings and revenue that exceeded expectations. The company highlighted a significant 23% year-over-year increase in handgun sales to sporting goods retailers, noting that handguns represented 80% of its shipments in the quarter.
