Check out the companies making the biggest moves at midday: KLA Corp. — The semiconductor equipment maker soared 4% after Jefferies raised its 12-month price target to $1,500 from $1,200 and said “AI continues to drive spending.” [wafer fab equipment] Immunome — The biotech company soared 20% after announcing positive results from a Phase 3 clinical trial of valegacestat to treat desmoid tumors. “These findings demonstrate that valegacestat has the potential to deliver best-in-class results in a convenient, once-daily oral medication to help patients take back their lives,” said Clay Segal, CEO of Zillow Group, in a statement. Google’s shares fell 8% on reports that Google is testing a new format for listing directly in search results, and the company said it is now down 20% this year, building on an 18% rise since last week. Marijuana stocks fell 3%, reversing some of last week’s rally on news that President Donald Trump will direct federal agencies to classify the drug from its current Schedule I designation to the less stringent Schedule III classification. Las Vegas Sands, Marriott International — The major hospitality companies each rose 2.1% following upgrades to buy targets at Goldman Sachs, but the bank said Marriott will benefit from strength among high-end consumers. Rocket Lab – Shares fell 7%, reversing earlier gains driven by reports that SpaceX is aiming to go public in 2026 after receiving an $800 billion valuation in its latest funding round – Data shows new data showing a slowing China’s economy is having a negative impact on the country-based e-commerce and internet services company’s stock price. Industrial production in November was 1.3% year-on-year, slowing from 2.9% in October. Alibaba rose 4.8% against expectations for a 5% rise, while ServiceNow fell 4%. The software platform is reportedly in talks to acquire the company for about $7 billion, citing people familiar with the matter. iRobot — The maker of the Roomba vacuum robot plunged 72% after the company declared bankruptcy over the weekend. Hong Kong-based Picea plans to acquire iRobot — CNBC’s Scott Schnipper contributed.
