Stocks making the biggest moves midday: EyePoint, Intuitive Machines, Workday, JetBlue & more
Check out some of the companies making the biggest moves midday: Intuitive Machines — Shares of the maker of robotic spacecraft and landers designed to fly to the moon jumped another 9%, rising for a fifth day. Houston-based Intuitive said it received an “authorization to proceed” from an unnamed customer to start work on a $600 million, multisatellite communications infrastructure program . On Friday, Intuitive gained 8% after disclosing its latest order backlog. EyePoint Pharmaceuticals — Shares of the pharmaceutical company plummeted about 70%. Duravyu, the company’s treatment for wet age-related macular degeneration, did not achieve its primary goal in a Phase 3 trial . JetBlue Airways — The airline’s stock dropped 6%, on pace for its seventh decline in nine sessions. The stock has struggled over the past six months, losing 13%. Seaport Research Partners lowered its rating on JetBlue to neutral from buy. Onto Innovation — The semiconductor process control company’s shares climbed 5% after Goldman Sachs initiated coverage of the stock with a buy rating, according to FactSet. Shares are higher by more than 120% this year. Workday — The maker of human resources software saw shares fall 4%. Deutsche Bank downgraded Workday to hold from buy, according to FactSet. The move came after Workday soared 40% since July 24. Last Thursday, the stock saw its largest one-day gain in 10 years after Reuters reported that private equity firm Silver Lake was in talks to buy the company. Alibaba — Shares were higher by almost 1% after Reuters reported Alibaba is set to sell its game development business. Lingxi Games is expected to be sold for more than $2 billion to private equity firm Trustar Capital, Reuters said, citing a person familiar with the matter. Memory chip stocks — Several stocks were higher after U.S. Commerce Secretary Howard Lutnick told the Wall Street Journal in an interview that the Trump administration opposes Apple buying Chinese memory chips. Shares of Sandisk jumped 10%, Western Digital shares added 5%, Micron Technology shares tacked on 6% and Seagate Technology ‘s stock was higher by 2%. Intel — Shares were up almost 4% after CEO Lip-Bu Tan bought more than 105,000 shares last week at $95 each, based on a late Friday Securities and Exchange Commission filing . SoFi Technologies — The digital financial services company’s stock was fractionally higher after Piper Sandler initiated research coverage with an overweight rating. Analysts said SoFi’s current price represents an attractive entry point, with the company’s strong product portfolio filling a growing total addressable market. Okta — Shares gave back early gains inspired by a Wells Fargo upgrade to overweight from equal-weight. Analysts at the bank said identity is increasingly becoming a spending priority by businesses, which is likely to boost Okta’s security offerings. — With additional reporting by CNBC’s Darla Mercado, Sarah Min, Fred Imbert and Davis Giangiulio.
