Check out the companies making the biggest moves midday: Semtech — The semiconductor maker rallied 17% on better-than-expected second-quarter results and strong third-quarter revenue guidance. The company posted a Q2 profit of 41 cents per share, excluding certain items, on revenue of $27.6 million. Analysts expected earnings of 40 cents per share on revenue of $256.1 million. For the third quarter, Semtech expects revenue of $266 million. Cracker Barrel Old Country Store — Shares climbed 4.5%, rebounding after seven straight days of losses on widespread backlash to its new logo and rebranding. On Tuesday, President Donald Trump weighed in on the controversy , saying the restaurant should return to its old logo. Paramount Skydance — The media company shed 4%, giving back some of its sharp gains for the month. Paramount shares are up 21% in August. Brown-Forman — The whiskey maker shed 4% after announcing Chief Financial Officer Leanne Cunningham, a 30-year company veteran, will retire on May 1, 2026 . The stock has lost more than 20% year to date as it grapples with the effects of tariffs . EchoStar — The telecommunications stock surged 80% after AT & T said it would buy some wireless spectrum licenses from EchoStar for $23 billion. AT & T said the transaction should close sometime in mid-2026. AT & T lost more than 1%. Eli Lilly — The pharma giant rose 2% after the company’s weight loss pill, orforglipron, cleared another late-stage trial . The higher dose of the pill helped patients lose 10.5% of their weight on average at 72 weeks, compared to just 2.2% weight loss in the placebo group. Canada Goose , VF Corporation , Rocky Brands — The retail stocks all traded higher after being upgraded to outperform by Baird. Canada Goose popped nearly 6% along with VF Corporation. Rocky Brands outperformed, soaring 12%. Advanced Micro Devices — The semiconductor stock gained 1% following an upgrade to buy from hold at Truist. Analyst William Stein noted that hyperscale customers have been increasingly partnering with the company and “expressing true interest in deploying AMD at scale.” Oklo — Shares popped nearly 5% after Bank of America initiated the nuclear tech company at a buy rating. Analyst Dimple Gosai said nuclear is an industry that is regaining momentum, and Oklo looks especially “well-positioned to meet the rising energy needs of AI.” Constellation Brands — The beer distributor shed 2% after Bank of America downgraded it to underperform from neutral. The bank said Constellation’s sales and margins could be impaired by further downside potential in beer industry consumption. — CNBC’s Sarah Min, Michelle Fox, Lisa Han and Alex Harring contributed reporting.
Add A Comment