Check out the companies making the biggest moves midday:
Semtech — The signal components maker rallied 8% after the company announced the launch of new optical receivers for artificial intelligence networks alongside Poet Technologies. On top of that, Oppenheimer upgraded the stock to outperform following a meeting with management.
Credo Technology — Shares fell more than 1% after the connectivity components maker agreed to acquire the privately held Hyperlume, which “provides microLED-based interconnects for use in hyperscale and AI-focused data centres.”
UiPath — The automation stock gained 10% after the company announced partnerships with OpenAI, Snowflake and Nvidia. As part of the agreements, the companies will incorporate UiPath’s automation technology into their AI capabilities.
Pfizer — The maker of Eliquis, a blood thinner, rose more than 3% after CNBC reported that the drugmaker and the Trump administration will announce an agreement to lower Medicaid drug prices. Pfizer would also win a three-year reprieve from planned pharmaceutical tariffs in return for expanding U.S. manufacturing.
Spotify — Shares dropped 5% after the streaming platform said CEO Daniel Ek will step down from his position and move to the role of executive chairman. Separately, Goldman Sachs downgraded the stock to neutral from buy, saying it has little room to run after its runup. It’s up more than 54% this year.
Source: https://www.cnbc.com/2025/09/30/stocks-making-the-biggest-moves-midday-pfe-smtc-spot-path-crwv.html