Here’s a look at the companies making headlines in midday trading: Chip Equipment Stocks – With news that the Biden administration is considering further sanctions on sales of semiconductor equipment and artificial intelligence memory chips to China, which may be less stringent than previous proposals, Global Chip equipment stocks rose. After Bloomberg’s report, the share prices of US companies Applied Materials and KLA Corporation both rose by more than 3%, while Lam Research’s share price rose by 5.3%. Dutch equipment maker ASML rose about 3.5%. Robinhood — Shares of the brokerage rose more than 3%, resuming their post-election rally. Ahead of Friday’s stock market rally, the U.S. Securities and Exchange Commission approved startup 24 Exchange to create a 24-hour stock exchange, paving the way for around-the-clock trading. Robinhood shares rose 66% in November to a record high as investors piled into the company, which is seen as a big beneficiary of the incoming Trump administration’s deregulatory plans. Advance Auto Parts — Credit rating agency Moody’s downgraded the auto parts company’s senior unsecured debt rating to Ba1, below investment grade, sending its shares down 7%, according to FactSet. “The downgrade reflects our expectations for continued high lease-adjusted leverage, lower interest coverage and negative free cash flow over the next 12-18 months,” Moody’s said. Hasbro – in The company’s shares rose more than 2% after Elon Musk offered to buy the toy maker to secure the rights to Dungeons and Dragons. Retail stocks – With the Black Friday shopping craze in the United States, major retail stocks edged higher, with Target rising about 1% and wholesale retailer Costco rising 0.6%. Meanwhile, Walmart, the largest U.S. retailer, rose 0.1% to hit a record high. Zeta Global Holdings – Shares of the marketing software company rose 5% Wednesday after the company’s CEO called recent short-selling reports “wrong” on CNBC’s “Closing Bell.” The stock is still down more than 20% this month. Crypto Stocks – Stocks tied to the price of Bitcoin rose as the cryptocurrency approaches the $100,000 milestone. MicroStrategy, which employs an aggressive Bitcoin buying strategy, rose 4%. Shares of Mara Holdings, a bitcoin miner and another buyer of cryptocurrencies, rose nearly 10%. Coinbase hasn’t changed much. —CNBC’s Yun Li, Jesse Pound, Hakyung Kim, Sarah Min, Sean Conlon, Pia Singh and Tanaya Macheel contributed reporting.
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