Stocks making the biggest moves midday: Microsoft, SpaceX, Vaxcyte, Banco Bradesco, DraftKings & more
Here are some of the companies making headlines in midday trading. Taiwan Semiconductor Manufacturing , SpaceX – Elon Musk confirmed discussions with TSMC about helping his Terafab chip venture operate its Texas factories. Intel, which is also participating in the Terafab project, slid about 2%. TSM climbed 2%, and SpaceX jumped 6%. Sphere Entertainment – Shares tumbled 12% after Craig-Hallum Capital downgraded shares to hold from buy, per StreetAccount. The company pointed to demand for “The Wizard of Oz” softening faster than anticipated, which could put estimates for the second half of 2026 and first half of 2027 at risk. Vaxcyte – Shares jumped about 30% after the biotech company announced positive topline results from the Phase 3 trial of its pneumococcal conjugate vaccine in adults aged 50 and over. The immune responses were comparable to Pfizer’s Prevnar 20 and Merck’s Capvaxive. Millrose Properties , Lennar – Shares of both companies fell roughly 6%. On Friday, Hunterbrook Media ran a short report calling into question the economics of Millrose’s single-family rental investments and Lennar’s potential influence over the company’s strategy. Microsoft — The software giant jumped more than 1% on the back of an upgrade to buy from Melius Research. Analyst Ben Reitzes said that the company has an edge in artificial intelligence as security becomes a focal point. “[Microsoft CEO] Satya Nadella and his team are increasingly going to be considered the ‘adults in charge’ — a key cog in the security, governance and the ‘AI CYA’ play that is likely in the early innings,” he wrote. Brazilian stocks — The group rallied after right-wing presidential candidate Flavio Bolsonaro edged out incumbent Luiz Inacio Lula Da Silva by around 2 percentage points in an election held Sunday. The iShares MSCI Brazil ETF (EWZ) surged 13%. U.S.-listed shares of Itau Unibanco and Banco Bradesco soared 16% and 19%, respectively. Mercado Libre , which deems Brazil to be one of its major markets , advanced 8%. PTC — The software name surged 33% after the company agreed to being acquired by Schneider Electric for $205 per share, valuing the company’s equity at more than $22 billion. The transaction is expected to close by the third quarter of 2027. Wells Fargo — Shares gained 1% after a Morgan Stanley upgrade to overweight from equal weight . “Normalizing balance sheet growth should ease funding pressure, stabilize [net interest margin], and raises our conviction in the path to higher returns,” analyst Manan Gosalia said in a note. DraftKings — Shares for the digital sports entertainment and gaming company popped over 7% after a Bank of America upgrade to buy from neutral. Bank of America’s Julie Hoover said the company’s prediction markets are a “win-win,” expecting prediction markets can generate $400 million in fees for 2027 and between $200 million to $400 million in market making. Estee Lauder — The beauty stock moved 2% higher on the back of an upgrade at Barclays to overweight from equal weight. The bank said it is bullish on Estee Lauder’s growth and earnings profile over the next several years. Harley-Davidson —The motorcycle builder rose about 10% after an an upgrade to buy from neutral from Citi. Going from a “modest” retail improvement earlier this year, Citi believes the motorcycle company will benefit from a major product introduction, cost savings and potential earnings tailwinds from LiveWire. — CNBC’s Nick Wells, Michelle Fox, Ananya Chetia and Paulina Likos contributed reporting.
