Here are some of the companies making headlines in midday trading:
- Cognizant Technology Solutions — The information technology company's stock gained more than 6%. Cognizant said it will expand its partnership with Google Cloud, aimed at accelerating enterprise adoption of Gemini AI.
- USA Rare Earth — Shares of the mining company lost more than 7% after The Wall Street Journal reported that a group of Democratic lawmakers is expanding its inquiry into the government's $1.6 billion investment in USA Rare Earth.
- Adobe — Shares popped more than 5% even after Bank of America reinstated coverage of the software giant as underperform.
- Semi-conductors — Chip stocks slid after mixed quarterly results from South Korean tech giant Samsung led investors to pare exposure to AI-related stocks.
- SpaceX — Shares dropped more than 5% on Tuesday, the rocket company's first day trading as part of the Nasdaq-100.
- Rivian — The electric vehicle maker's shares slid 14% after Rivian announced a significant capital raise.
