Target shares plummeted 8% by Wednesday’s midday session after the company announced that CEO Brian Cornell will step down in February 2026 after 12 years at the helm.
U.S. equities declined by Wednesday’s midday trade as investors turned cautious ahead of the release of the minutes of the Federal Reserve’s July FOMC meeting.
The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was down 0.53% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq, fell 0.97%.
Here are the top stocks making the biggest moves in Wednesday’s midday trade:
Target Corp. (TGT)
Target shares plummeted 8% by Wednesday’s midday session after the company announced that CEO Brian Cornell will step down in February 2026 after 12 years at the helm. Target veteran Michael Fiddelke has been appointed as the successor.
TGT stock is down 28% year-to-date.
Nvidia Corp. (NVDA)
Nvidia shares declined nearly 2% in Wednesday’s midday trade amid concerns that there are signs of an AI bubble, following comments made by OpenAI co-founder and CEO Sam Altman.
NVDA stock is up 29% year-to-date.
Intel Corp. (INTC)
Intel shares fell nearly 7% amid reports that the chipmaker is seeking fresh funding at a discount following the $2 billion deal with SoftBank. This comes in the wake of reports that the Trump administration is interested in taking an equity stake in Intel.
INTC stock is up 18% year-to-date.
Micron Technology Inc. (MU)
Micron shares tumbled more than 5% following a Reuters report that stated that U.S. Commerce Secretary Howard Lutnick is weighing an option to take equity stakes in chipmakers in exchange for CHIPS Act funding, expanding the original plan from just Intel to include other recipients of the cash grants.
MU stock is up 38% year-to-date.
Palantir Technologies Inc. (PLTR)
Palantir shares were down more than 5% on Wednesday after falling over 9% on Tuesday, following a bearish report by short seller Citron Research published on Monday, which said that the company’s stock is overvalued in comparison to OpenAI’s recently reported valuation target of $500 billion.
PLTR stock is up 98% year-to-date.
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