Alphabet shares surged 9% in Wednesday’s midday trade after the tech giant dodged hefty penalties in an antitrust case involving its business practices in the U.S. search market.
U.S. equities were mixed in Wednesday’s midday trade as Wall Street digested President Donald Trump’s statement that the U.S. would have to unwind trade deals if the government loses the tariff case.
Trump was speaking to reporters at the start of his meeting with Polish President Karol Nawrocki. “We made a deal with the European Union where they’re paying us almost a trillion dollars, and you know what? They’re happy. It’s done. These deals are all done. I guess we’d have to unwind them,” he said, according to a Reuters report.
The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was up 0.32% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq, gained 0.68%. The SPDR Dow Jones Industrial Average ETF Trust (DIA), which tracks the Dow Jones Industrial Average, declined 0.4%.
Here are the top stocks making the biggest moves in Wednesday’s midday trade:
Alphabet Inc. (GOOG) (GOOGL)
Alphabet shares surged 9% by Wednesday’s midday trade after the company dodged hefty penalties in an antitrust case involving its business practices in the U.S. search market. A District Court judge ruled that Alphabet’s Google wouldn’t have to sell its Chrome web browser, but added that the company would have to share search data with its competitors.
GOOGL stock is up 22% year-to-date.
Apple Inc. (AAPL)
Apple shares surged more than 3% midday after the Google antitrust ruling allowed the search giant to continue its deal with the iPhone maker. Google’s deal with Apple allows its search engine to be the default option on the Safari browser. The deal is valued at over $20 billion per year.
AAPL stock is down 5% year-to-date.
NuScale Power Corp. (SMR)
NuScale shares soared over 13% in Wednesday’s midday trade after the company announced support for an agreement between ENTRA1 Energy and the Tennessee Valley Authority to deploy its Small Modular Reactor (SMR) technology. The company said this is the largest SMR deployment in U.S. history.
SMR stock is up 134% year-to-date.
Macy’s Inc. (M)
Macy’s shares surged more than 18% after the company’s second-quarter (Q2) results beat Wall Street expectations. Macy’s reported earnings per share (EPS) of $0.44 on revenue of $4.81 billion, while analysts expected EPS of $0.18 on revenue of $4.7 billion, according to Stocktwits data.
M stock is down 6% year-to-date.
Bruker Corp. (BRKR)
Bruker shares fell nearly 13% midday on Wednesday after the diagnostics solutions company announced the sale of a $600 million convertible stock offering.
BRKR stock is up 88% year-to-date.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<