In midday trading, several companies are making headlines for their significant stock movements. Krispy Kreme saw a nearly 30% increase in its stock price, heading for its best day on record. This surge was driven by the announcement that McDonald’s plans to sell Krispy Kreme doughnuts at its restaurants nationwide by the end of 2026. Trump Media & Technology Group also made waves, with its shares soaring 35% after it began trading on the Nasdaq following its merger with Digital World Acquisition Corp. McCormick, a spice maker, saw its stock jump 10% after surpassing earnings and revenue expectations for its first quarter.
Reddit’s stock price increased by about 15% as investors continued to show interest in the social media platform following its recent debut on the New York Stock Exchange. Viking Therapeutics, a biotechnology company, surged over 21% after announcing positive results for its experimental weight loss drug in a small trial. Seagate Technology, a data storage company, saw its stock rise nearly 10% after receiving an upgrade from Morgan Stanley. The investment firm cited the company’s improved earnings power from generative artificial intelligence and other drivers.
Additionally, Micron Technology, a memory chipmaker, gained 2% after Mizuho Securities reiterated its buy rating and increased its price target on the stock. The firm highlighted a strong opportunity in artificial intelligence that could lead to increased sales in the coming years. However, UPS experienced a decline in its stock price, falling more than 6% as investors reacted to a long-term forecast update. The company expects revenue to potentially reach $114 billion in 2026, but analysts raised concerns about the pricing used in the forecast.
Canada Goose, a luxury coat and parka maker, slipped 3.4% after announcing plans to cut 17% of its global corporate workforce in an effort to reduce costs amid decreased consumer spending. Conversely, Super Micro Computer saw its stock rise by 2.3%, building on gains from a previous day when JPMorgan initiated coverage with an overweight rating. JPMorgan identified the company as a leader in the growing AI compute market, which it believes is still in its early stages of development. Overall, these companies are experiencing a range of stock movements based on their recent announcements and performance in the market.
