Check out the companies making headlines in midday trading. Micron Technology – Shares jumped 5.4% after Bank of America raised its price target for the chipmaker. The Wall Street firm expects demand for high-bandwidth memory technology to grow to more than $20 billion by 2027. Cameco – Shares rose 7.9% after Goldman Sachs initiated coverage of the uranium producer with a buy rating, saying there are more than 25 companies % Upside down. Semtech – Shares rose 6.8% after the semiconductor maker last week reported fourth-quarter revenue that beat expectations. Semtech reported revenue of $192.9 million, better than the FactSet estimate of $190.7 million. It also reported a larger-than-expected loss of 6 cents per share, more than the loss of 4 cents per share that analysts had expected. Microsoft – Microsoft shares rose 0.9% after a report from The Information, citing unnamed sources, said Microsoft and OpenAI are planning a $100 billion data center project. Other AI-related stocks also rose. Western Digital shares rose 3.8%. Super Micro Computer shares rose 2.7%. JB Hunt Transport, CH Robinson – Trucking stocks fell 1.4% and 3.7%, respectively, following a Barclays downgrade. Analyst Brandon Oglinski noted concern about profitability and supply for North American trucking companies moving forward. AT&T – Shares lost 0.6% after the telecom company said it was investigating a data leak. A preliminary review found that the data of more than seven million customers was published on the dark web as a result of the incident. Bill Holdings – Shares of the financial software company fell 6.1% after Wells Fargo cut its rating to below equal weight, saying in a note to clients that growth outlook for Bill was too high. Tesla – Electric vehicle stock fell 0.3%. It had earlier risen after the previously announced Model Y price increase took effect on Monday. Oxford Industries – Shares fell about 3.7% after Citi downgraded the apparel company behind Tommy Bahama and other brands to sell from neutral, citing margin pressures in 2024. Universal Health Services – Shares fell about 4% after Universal said Health Services in a regulatory filing ordered its subsidiary Pavilion Behavioral Health to pay $60 million in compensatory damages and $475 million in punitive damages. The company said the final decision could have a “material adverse impact” on the business. MicroStrategy — Shares fell nearly 4% after MicroStrategy CEO Michael Saylor sold nearly 4,000 shares of MicroStrategy stock last week, according to a regulatory filing. InterDigital – Shares fell 8.6% after Bank of America downgraded the wireless company to underperform from buy. One analyst said InterDigital's past 12 months had been “strong” but the company had limited long-term growth opportunities. – CNBC's Brian Evans, Lisa Kailay Hahn, Alex Haring, Tanaya Machel and Jessie Pound contributed reporting.
