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Chip Stocks Including Intel, AMD Move on New Analyst Ratings; Cooper, AEO Plunge
Several major semiconductor stocks saw significant price movements on Thursday after Piper Sandler initiated coverage on the sector, while company-specific news and analyst downgrades caused sharp swings in other equities.
Semiconductor Stocks in Focus
New analyst ratings from Piper Sandler were a key catalyst for the chip sector. The firm's calls prompted divergent reactions from investors, with several major names ending the day lower.
- Intel (INTC): Shares fell 4.68% after receiving a Neutral rating from Piper Sandler, which cited valuation concerns.
- Advanced Micro Devices (AMD): The stock declined 2.79% despite being initiated with a positive Overweight rating.
- Arm Holdings (ARM): Shares also traded down 3.17%, even as Piper Sandler began its coverage with an Overweight rating based on chip growth potential.
Other semiconductor-related firms also faced headwinds, with Lam Research (LRCX) falling 4.62% during the session.
Company-Specific News Drives Major Swings
AdBeyond the chip sector, several companies experienced double-digit percentage moves based on specific catalysts, including analyst downgrades and corporate guidance.
Cooper Companies (COO) shares plummeted 14.53% following a stock rating downgrade from Baird, which pointed to weak sales. In the retail sector, a disappointing forecast from American Eagle Outfitters (AEO) sent its stock down 16.13%, overshadowing a second-quarter earnings beat. Similarly, shares of Navan (NAVN) tumbled 22.31% despite the company reporting stronger-than-expected Q2 results and guidance.
Notable Gainers and Mega-Cap Moves
Amid the declines, there were several notable gainers. Skyworks Solutions (SWKS) was a standout performer, rallying 10.31%. In the small-cap space, Orchestra BioMed (OBIO) rose 8.44% after BTIG upgraded its stock rating, citing progress in clinical trials.
Among mega-caps, sentiment was mixed. Apple (AAPL) bucked the negative trend seen in much of the tech sector, climbing 3.08%. This contrasted with declines in other large technology firms, including Oracle (ORCL) and Dell (DELL), which fell 3.6% and 3.67%, respectively.
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