Intel shares gained 7% in Tuesday’s midday trade after Commerce Secretary Howard Lutnick confirmed that the Trump administration is considering picking up a 10% stake in the company.
U.S. equities declined in Tuesday’s midday trade as investors turned cautious while looking for clues about the health of the economy, with several retail giants scheduled to report their latest quarterly results throughout the week.
The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was down 0.42% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq, fell 1.06%. Here are the top stocks making the biggest moves in Tuesday’s midday trade:
Intel Corp. (INTC)
Intel shares gained 7% in Tuesday’s midday trade after Commerce Secretary Howard Lutnick confirmed that the Trump administration is considering picking up a 10% stake in the company in exchange for extending funding committed by the Biden administration.
INTC stock is up 26% year-to-date.
Palantir Technologies Inc. (PLTR)
Palantir shares declined more than 8% following a report from Citron Research, which cited OpenAI’s recently reported valuation target of $500 billion to say that Palantir’s stock is overvalued in comparison.
PLTR stock is up 110% year-to-date.
The Home Depot Inc. (HD)
Home Depot shares gained over 3% in Tuesday’s midday trade after the retailer reiterated its full-year guidance even as its second-quarter (Q2) earnings fell short of expectations. It reported earnings per share (EPS) of $4.68, while Wall Street expected an EPS of $4.72, according to Stocktwits data.
HD stock is up 5% year-to-date.
Viking Therapeutics Inc. (VKTX)
Viking Therapeutics shares plummeted 43% in Tuesday’s midday trade after the company said that 28% of the participants who received the drug discontinued treatment in a trial, compared to 18% among those who received a placebo.
VKTX stock is down 39% year-to-date.
Nio Inc. (NIO)
Nio’s American Depository Receipts (ADR) climbed 5% after the company announced price cuts across its long-range lineup of cars and revealed expansion plans to enter Singapore, Uzbekistan, and Costa Rica.
NIO ADR is up 17% year-to-date.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<