US Top News and Analysis | Stocks making the biggest moves midday: Coherent, Victoria's Secret, Marvell, HPE, Generac, Intuit & more
AI generated summary, Read the full article for complete information.
Midday trading saw several notable moves: Generac rose nearly 6 % after announcing it will supply backup power to a major hyperscale data‑center operator, while USA Rare Earth gained about 5 % following a $1.2 billion investment in a magnet‑manufacturing and refined‑metals facility in South Carolina. Intuit fell almost 9 % after a Goldman Sachs downgrade citing rising tax‑software competition, and Shake Shack dropped 10 % after cutting its full‑year earnings and Q2 revenue outlook amid macro‑economic uncertainty. AI‑related photonics stocks rallied, with Coherent up 16 %, Lumentum 13 % and Corning 13 % after Hewlett‑Packard Enterprise reported stronger AI‑driven server demand; Marvell surged roughly 30 % after Nvidia CEO Jensen Huang praised it as a potential trillion‑dollar company. HPE jumped 16 % on an earnings beat and raised full‑year guidance, and Victoria’s Secret rallied about 44 % after boosting its full‑year sales forecast to $7.03‑$7.13 billion. Credo Technology slipped nearly 3 % despite beating Q4 expectations, Microchip rose 4 % on strong data‑center solutions revenue, Alphabet dipped 2 % as it plans to sell $80 billion of stock (including a $10 billion Berkshire Hathaway investment), and STMicroelectronics climbed around 15 % after lifting its 2026 data‑center revenue target to about $1 billion.
Read more: https://www.cnbc.com/2026/06/02/stocks-making-the-biggest-moves-midday-cohr-mrvl-hpe-gnrc-intu.html
#VictoriasSecret #Generac #Intuit #HPE #Marvell #JensenHuang