Dell Technologies saw its shares rise over 10%, marking its sixth gain in seven sessions, following RBC's initiation of coverage with an outperform rating. RBC highlighted Dell's advantageous position in the global IT spending environment, particularly as investments in AI infrastructure increase.
Vicor's stock climbed about 11% after announcing the acquisition of two sites in New Hampshire for expanding ChiP fab manufacturing, indicating strong growth prospects. Shopify's shares increased nearly 4% after Bernstein initiated coverage with an outperform rating and set a $160 price target, suggesting a 26% upside, while noting that AI would enhance rather than hinder its performance.
Skyworks Solutions' shares rose more than 8% after announcing that its acquisition of Qorvo is expected to close by year-end, with Qorvo's shares also gaining 5%. Conversely, Qualys' stock fell 6% after a downgrade from Wedbush, which cited significant pressure on its core business.
GameStop's shares climbed nearly 3% after CEO Ryan Cohen disclosed a purchase of 1 million shares, increasing his stake to 39.347 million shares valued at approximately $802.28 million. Oracle's shares dipped slightly after a post-earnings rally, despite reporting earnings of $1.92 per share and revenue of $19.35 billion, surpassing analyst expectations.
RH's shares rose almost 2% after reporting second-quarter revenue of $922 million, exceeding consensus estimates. In contrast, NuScale Power's stock tumbled 14% following a downgrade from UBS, which lowered its price target due to concerns over the company's long build timeline. Oklo's shares slid more than 7% after entering an at-the-market common stock sale agreement