Stocks making the biggest moves midday: Berkshire, AMD, Circle, FedEx, UPS & more
Check out the companies making the biggest moves in midday trading. Logistics firms — Shares of logistics companies were under pressure after Amazon said it would launch Amazon Supply Chain Services , its own freight, distribution, fulfillment and parcel shipping business. GXO Logistics shed 11%, UPS fell about 10%, while FedEx and C.H. Robinson each sunk 9%. Amazon shares were up 1%. Berkshire Hathaway — Both classes of Berkshire stock gained almost 1% after CEO Greg Abel reassured investors with his solid performance at the annual shareholders meeting on Saturday. Abel and key leaders at the company discussed its recent performance and reviewed opportunities ahead. Abel also said he had no intentions to break up the conglomerate . GlobalFoundaries — Shares rose 4% after Cantor Fitzgeraold upgraded the stock to overweight as it expects long-term earnings to accelerate. Analysts see a path for the company to $4.50 to $5.50 per share by 2030, supported by margin expansion, improving utilization and exposure to higher-value markets like silicon photonics, satcom, automotive and physical AI. Cantor raised its price target to $80 from $50. Global Business Travel Group — Investment firm Long Lake said it would buy Global Business Travel Group, the corporate travel operator also known as American Express Global Business Travel, for $6.3 billion. Long Lake said it’s a bet on how AI will reshape the travel sector. Global Business stock soared 57%. Celcuity — Shares of the clinical-stage biotech company jumped nearly 18% after upbeat results from its phase 3 study for use of gedatolisib with hormone-blocking treatments for advanced breast cancer. The company said the drug showed a statistically significant and clinically meaningful improvement in progression-free survival for patients enrolled in the trial. Norwegian Cruise Line — The cruise operator dropped 8% after it sharply cut estimates for the second quarter and full year, citing skyrocketing fuel prices due to the U.S.-Iran war for the new forecast. In the first-quarter, the company earned 23 cents per share, excluding items, on $2.33 billion in revenue, compared with consensus estimates of 14 cents and $2.36 billion, respectively, according to FactSet. Year to date, shares have fallen 22%. eBay — Shares of the online marketplace jumped nearly 7% after GameStop made an unsolicited, non-binding offer Sunday to buy eBay for roughly $55.5 billion . GameStop CEO Ryan Cohen said the merger would be a way to create a strong competitor to Amazon . GameStop fell 6%. Axsome Therapeutics — Shares jumped about 10% adding to Friday’s rally, when it received FDA clearance to use Auvelity to treat Alzheimer’s disease agitation. On Monday, the company reported a wider-than-expected first-quarter loss of $1.26 per share. Revenue matched estimates at $191 million. Crypto stocks – Crypto platforms rose after Senators Thom Tillis, R-N.C., and Angela Alsobrooks, D-Md., reached a bipartisan agreement over the weekend on key language in a crypto market structure bill called the CLARITY Act. Coinbase rose 7%, while Circle shot up 16% and BitGo climbed 11%. Gemini Space Station , which stands to lose the most as both a stablecoin issuer and a retail platform, rose nearly 4%. Bitcoin topped $80,000 over the weekend for the first time since January, and was last trading above that milestone. Tyson Foods — The Jimmy Dean pork and Hillshire Farm chicken maker rose about 3% after posting better-than-expected fiscal second-quarter financial results. Tyson earned an adjusted 87 cents per share on $13.65 billion in revenue, compared with estimates of 78 cents and $13.63 billion, according to analysts polled by FactSet. Advanced Micro Devices — The chipmaker slipped nearly 5% after a downgrade from HSBC on Friday. The bank moved its rating to hold from buy on concern for tight semiconductor capacity in 2026, which could limit the company’s upside. — CNBC’s Nick Wells and Tanaya Macheel contributed reporting
