International Business Machines (IBM) saw its shares rise over 3% following Bank of America's increase of its price target from $315 to $330, with expectations of modest guidance raises for fiscal 2026. O'Reilly Automotive's shares fell more than 7% amid reports of a cash bid for Genuine Parts' auto-parts business, although D.A.
Davidson maintained a buy rating with a $114 price target, suggesting potential long-term benefits from the acquisition. Semiconductor companies Teradyne and Advanced Micro Devices (AMD) experienced significant gains after Goldman Sachs raised their price targets to $465 and $640, respectively, with both stocks rated as buy. The iShares Semiconductor ETF also rose over 3%.
Micron Technology's shares climbed nearly 3% following a long-term agreement with Ford Motor to supply memory and storage for future vehicles, which also boosted Ford's stock by more than 3%. Broadcom's shares increased by 4% after announcing an expanded partnership with Apple through 2031.
AXT surged almost 20% due to a new supply agreement with Coherent, while Solstice Advanced Materials dropped about 15% amid merger talks with Element Solutions. TeraWulf's shares jumped 10% after securing a 20-year lease with Anthropic, projected to generate $19 billion in revenue. Dell Technologies rose nearly 4% after President Trump promoted the company, following his recent stock purchases.
ASML Holding's shares increased over 4% after Bernstein raised its price target significantly, citing growth in AI-driven semiconductor capacity. T-Mobile U.S. shares were up more than 1% after Bank of America upgraded its rating, suggesting the stock's recent decline was overdone