Here are the companies that are making headlines in midday trading. Apple – The iPhone maker advanced more than 2% as its Worldwide Developers Conference kicked off. Apple is expected to detail more of its strategy around artificial intelligence, including updates to Siri. Wix.com – The web development company slid more than 5%. Wix dialed back its outlook for the full year, now calling for bookings to grow at a percentage rate in the low teens. That’s down from its forecast of a percentage rate in the mid-teens. Year-over-year and revenue growth in the second quarter are now expected to come in at a low- to mid-teens percentage rate, versus the earlier call for a rate in the mid-teens. Crocs – The footwear manufacturer jumped 3% after Baird lifted its rating to outperform . The firm said that a “healthier North American story is emerging” for Crocs. “We are adopting a more positive stance, incorporating a higher degree of confidence that positive inflections for Crocs North America and HEYDUDE look sustainable,” the firm said. Corning – The specialty glass and fiber company saw shares pop about 6%. Corning reached a deal with Amazon to provide the optical fiber and connectivity solutions to support the e-commerce and cloud giant’s growing data center infrastructure in the U.S. Intel – Shares of the chip company jumped 12% after The Information reported that Alphabet and Nvidia are considering the company as a backup chip manufacturer. Alphabet shares dipped almost 2%. Cerebras Systems – The artificial intelligence chipmaker saw shares rocket 20% after a slate of bullish initiations from Wall Street firms. Morgan Stanley, Barclays, Wedbush and UBS were among the firms to give the stock buy-equivalent ratings as they kicked off coverage. Nvidia — Shares gained nearly 2% after Nvidia announced a partnership with South Korean tech giant SK Hynix for advanced memory for its AI factory buildout. Marvell Technology — Marvell Technology gained 13% after it was announced the chip company will be joining the S & P 500. Flex will also become part of the broad market index; shares were last off roughly 1%. The two names are replacing Campbell’s and Pool Corp. Nurix Therapeutics — Shares jumped almost 7% after the biotech said it’s collaborating with Roche to develop and commercialize bexobrutideg, a protein degrader used to treat cancers and autoimmune diseases. Micron Technology — Chip stocks rebounded strongly after Friday’s sell-off, with shares of Micron Technology and KLA Corp bouncing 10%, while Broadcom gained about 3%. Shares of Advanced Micro Devices jumped 5%. The VanEck Semiconductor ETF (SMH) was last up almost 6%. —CNBC’s Nick Wells and Darla Mercado contributed reporting.
