Here are the companies making headlines in midday trading. Rackspace , Advanced Micro Devices — The companies announced an agreement in which Rackspace will deploy a 30 megawatts of AMD-based computing capacity across Rackspace's data centers. Shares of Rackspace jumped 9%, while AMD declined 4%. Mobileye — The developer of driver-assist technologies announced it will establish an autonomous ride-hailing business. Mobileye expects to launch this new initiative in a U.S. city in 2027. Shares were last up nearly 3%. Southwest Airlines — Shares rose almost 4% after Jefferies hiked its price target on the airline to $44 from $37. The bank cited continued "optimization efforts of cabin segmentation and load factors" for the change. To be sure, the new target signals downside of 4.5% from Monday's close. E.l.f. Beauty — Shares of the cosmetics company jumped more than 5%. The company launched its e.l.f. Hair line of products late Monday and will begin offering the new products on TikTok shop Tuesday and at Target next week. Shares are heading for their seventh winning day. Gilead Sciences — Shares were up 2%. Gilead said the Food and Drug Administration accepted the company's supplemental drug application for Yeztugo as a potential once-weekly tablet for HIV prevention. Chip stocks — Semiconductor companies took a breather from a winning run as traders sold shares. The VanEck Semiconductor ETF (SMH) was last down nearly 3% on the day after three positive sessions. Broadcom and Lam Research were off roughly 3%, as was Micron Technology . Intel lost almost 6%. Nvidia declined 1%. AI infrastructure – Traders cashed out of select artificial intelligence infrastructure stocks after a string of positive days. Corning is on pace to snap a three-day win streak, down 4% on the session. Photonics stocks Lumentum and Coherent were last down 7% and 5%, respectively. Lumentum is on track to end a four-day positive stretch, while Coherent is heading for a losing day after three sessions of gains. Gildan Activewear — The Canadian maker of Hanes socks and underwear plunged about 24% after StreetAccount reported that Jehoshaphat Research had issued a negative report, saying it was short the stock and Gildan's "true" organic growth is negative. Gildan officials weren't immediately available to comment. SpaceX — Elon Musk's rocket company jumped roughly 11% , building on its already massive gains. SpaceX priced its initial public offering at $135 per share and began trading Friday. The stock traded at around $213 midday, roughly 58% above the IPO price. Huntsman — The chemicals manufacturer fell around 17% after it agreed to merge with rival Olin in an all-stock deal . After the merger, the new company will be named OlinHuntsman. The deal is expected to close in the first half of 2027. Olin shares slipped 6%. Dave & Buster's — The video game and restaurant stock fell roughly 5% on weaker-than-expected first-quarter results. The company earned 16 cents per share, well below the StreetAccount forecast of 60 cents per share. Revenue of $559.2 million also missed the $580.6 million consensus. Comparable store sales dropped 5.4% from the year-earlier period. Robinhood — The online brokerage was last down 2%. The maker of the trading app announced it would lay off about 10% of its workforce . Robinhood expects to take around $20 million in charges for severance and benefits costs. Yum Brands — The company said it's selling its Pizza Hut business to private equity firm LongRange Capital and Yum China for $2.7 billion . Yum shares were up about 2%. — CNBC's Scott Schnipper, Nick Wells and Darla Mercado contributed reporting.
<small>Source: CNBC</small>
