Here are the companies making headlines in midday trading. Semiconductor stocks — Chip manufacturers slid as the tech sell-off resumed in earnest on Tuesday. The VanEck Semiconductor ETF (SMH) was down 5%, while shares of Advanced Micro Devices fell 8% and Nvidia shares lost almost 3%. Micron Technology ‘s stock tumbled 6%, and Qualcomm ‘s lost nearly 9%. Apple — The manufacturer of iPhones saw shares drop more than 3%. Apple unveiled its new artificial intelligence software at its annual Worldwide Developers Conference on Monday, and investors dropped the stock even as analysts were largely upbeat on the company’s announcements. DraftKings — The sports gambling stock jumped 9% following a Securities and Exchange Commission filing that showed the DraftKings Predictions offering increased 24% month over month to $1.3 billion in May. Annualized total volume traded rose 34% month over month to $3.1 billion, compared with April 2026. The data is preliminary, DraftKings said in the filing. AI infrastructure plays — Stocks linked to artificial intelligence and data center infrastructure tanked as the tech sector sold off. Coherent ‘s stock was last off 13%, while Lumentum ‘s dropped 10%. Shares of specialty glass and fiber optic provider Corning were last down 10%. Home construction — Companies related to homebuilding jumped after May’s existing home sales grew 3.2% to 4.17 million. The iShares U.S. Home Construction ETF (ITB) advanced nearly 3%. Shares of Toll Brothers and Builders FirstSource added almost 4%, and shares of Floor & Decor gained 5%. GSK , Nuvalent — Shares of U.S. drugmaker Nuvalent rose 39% after U.K.-based biopharmaceutical company GSK announced an agreement to acquire the company for $10.6 billion. J.M. Smucker Co. — Shares jumped 10% after the maker of Smucker’s jam and Jif peanut butter reported fourth-quarter results that topped expectations. Earnings of $2.77 per share, on an adjusted basis, exceeded the $2.64 FactSet consensus estimate. Revenue of $2.27 billion also topped the anticipated $2.26 billion. SailPoint — Shares plunged more than 12% after the identity, data and security intelligence platform issued lackluster full-year guidance, even as first-quarter earnings exceeded estimates. SailPoint expects adjusted earnings of 30 cents to 34 cents for the full year ending January, while analysts polled by FactSet were anticipating 32 cents. Expected revenue of $1.265 billion to $1.275 billion for the full year came in the low range of the expected $1.27 billion. Vail Resorts — Shares of the mountain resort company dropped 4% after Vail Resorts posted disappointing earnings of $8.81 per share in the third quarter, missing the $8.96 LSEG consensus estimate. Revenues of $1.21 billion came in line with expectations. — CNBC’s Anniek Bao, Davis Giangiulio, Nick Wells, Michelle Fox and Darla Mercado contributed reporting.
