Shopify Inc shares fell 5.5% to $112.74 by midday Wednesday, sliding further after two tough sessions. Sellers remained active, targeting high-growth tech stocks. Trading volume exceeded 10 million shares as the stock opened weak and fluctuated broadly.
Merck & Co shares climbed roughly 2.8% to $119.11 by midday in New York on Wednesday, gaining $3.27 since Tuesday’s close. The stock’s intraday range has been between $115.79 and $119.93.
Lam Research shares dropped 8.6% to $210.33 by midday Wednesday, deepening the slump in semiconductor stocks and erasing earlier gains. The stock fell $19.77 from Tuesday’s closing price, hitting a session low at $210.33.
GE Vernova shares dropped 6.6% to $729.05 by midday Wednesday, after starting the session close to $795. The stock swung widely, trading as low as $728 and as high as $797.
Shares of UnitedHealth Group Incorporated dropped roughly 3% Wednesday, closing at $275.58 after hitting a low of $275.18. Meanwhile, Humana and Cigna saw gains, and CVS Health slipped slightly.
Shares of Robinhood Markets dipped 8.3% to $79.84 in late morning trading Wednesday, deepening their decline alongside the recent slump in cryptocurrencies and other risk assets.
Penserra Capital Management LLC boosted its stake in the Invesco QQQ Trust during the third quarter, raising its share count by 26.2% to 66,979, worth roughly $40.2 million, according to an SEC filing. Morgan Dempsey Capital Management entered with a new position, while Navigoe LLC and PayPay Securities also upped their holdings, the filing revealed.
U.S. stocks showed mixed results Wednesday, dragged down by a decline in Advanced Micro Devices that reignited skepticism around the AI trade and weighed on software stocks.
Shares of Mastercard Incorporated dipped roughly 0.3% to $549.26 by midday Wednesday. The S&P 500’s SPY ETF slipped about 0.6%, while the Invesco QQQ Trust, tracking the Nasdaq 100, dropped nearly 1.9%. Visa shares fell around 0.6%, but American Express climbed about 1.3%.
Chevron Corp shares climbed 1.6% to $180.95 in late-morning trading Wednesday, surpassing Tuesday’s close of $178.04 and hitting a peak of $181.32. The U.S. oil giant’s gains echoed a broader rally among major energy stocks.
AppLovin Corp shares dropped 13.7%, slipping to $398.51 in late-morning trading Wednesday. The stock swung sharply between $464.17 and a low of $384.24, after closing at $461.79 the previous session.
International Business Machines Corp shares dropped $9.19, or 3.1%, to $285.12 in late morning trading on Wednesday. During the session, the stock swung between $279.13 and $296.10.
Teradyne shares slipped roughly 4% to $271.69 by midday Wednesday, retreating after a strong rally fueled by the chip-testing equipment maker’s latest quarterly report earlier this week. During the session, the stock fluctuated between $269.99 and $295.02.
Applied Materials Inc shares fell about 6% to $299.39, giving back early gains and sliding with other semiconductor equipment names as the sector weakened during the U.S. regular session. Lam Research dropped about 7.7%, ASML fell 3.4% and KLA lost about 2.1%, while the iShares Semiconductor ETF was down about 4%.
Shares of Texas Instruments slipped 0.9% to $223.18 late morning in New York, following the announcement of a $7.5 billion deal to acquire Silicon Laboratories. During the session, the stock fluctuated between $215.06 and $228.21.