Stocks making the biggest moves midday: Apple, Meta Platforms, Bumble, Fermi, Goldman Sachs & more

Published Tue, Oct 13 202612:25 PM EDT

Here are some of the companies making headlines in midday trading. Apple — The consumer technology giant gained 1% after unveiling its HomeView smart home hub . This device, powered by Apple Intelligence with Siri AI, is designed for multiple people in a household and will use facial recognition to display pertinent information. Meta Platforms – Shares of the social media giant climbed more than 2%, rising for a second day following the rollout of its Muse Wonder artificial intelligence model. The release was well received by Wall Street, with Truist hiking its price target to $1,000 from $763. Bumble — The maker of the dating app saw shares soar 56% after announcing that it will be acquired by Ithaca Holdings in an all-cash deal valuing the company at $1.3 billion. Memory chip stocks — The group fell following a downbeat overnight session in South Korea. Concerns over memory stock valuations grew on the heels of CXMT's plans to roll out a new, more powerful chip by the end of 2026. U.S.-listed shares of SK hynix slid 4%, while Western Digital and Seagate declined 2%. Micron shed 4.9%, and Sandisk declined by 2.7%. AI infrastructure plays – A swath of artificial intelligence infrastructure stocks slid on Tuesday, tumbling alongside memory chip stocks. Applied Materials dropped 6%, while Lam Research and Teradyne each lost more than 3%. Lumentum fell more than 2%, and the iShares AI Innovation and Tech ETF (BAI) shed nearly 3%. Fermi – The developer of electric grids jumped 17% after signing a credit support agreement with Advanced Micro Devices , backing the first phase of Fermi's Project Matador energy and AI buildout in Texas. The companies have also signed a deal outlining a partnership as well as a framework to expand up to 650 megawatts of gross power capacity. JPMorgan Chase — Shares were marginally higher after the bank raised its net interest income outlook for the year. Gains were kept in check after the company reported third-quarter earnings and revenue that missed analyst expectations . Wells Fargo — The bank stock fell 1% on mixed Q3 results. Earnings per share of $1.87 exceeded an LSEG estimate of $1.85. Revenue of $21.87 billion was below a $22.3 billion forecast. Goldman Sachs — Shares rose nearly 1% after the banking giant reported Q3 revenue of $18.68 billion, exceeding an LSEG estimate of $16.71 billion. Johnson & Johnson — The pharma giant reported better-than-expected results for the third quarter, but soft medical device sales outweighed the earnings beat. MedTech revenue came in at $8.64 billion, falling short of the StreetAccount consensus call for $8.74 billion. Shares slid more than 6%. Domino's Pizza — The pizza chain fell 3% after its third-quarter results failed to impress investors. While earnings per share and revenue exceeded analyst estimates, U.S. same-store sales rose 0.3% — only in line with a FactSet consensus. Syndax Pharmaceuticals — Shares tumbled 16% after the company said axatilimab did not meet its primary endpoint during a Phase 2 trial in which the antibody was used to treat idiopathic pulmonary fibrosis. "The MAXPIRe trial did not meet its primary endpoint, and we are disappointed by this outcome given the promising scientific rationale in IPF," Nick Botwood, head of research & development at Syndax, said in a statement. Six Flags — The amusement park stock plunged 16% after a man died and others were injured in a roller coaster incident in Georgia, according to Cobb County police. UnitedHealth — The health insurance giant posted third-quarter results that beat analyst expectations. UnitedHealth earned an adjusted $4.69 per share on revenue of $112.69 billion. Analysts estimated a profit of $4.14 per share on revenue of $111.40 billion, according to LSEG. Shares were last up less than 1%. — CNBC's Nick Wells contributed reporting.