Check out the companies making the biggest moves at noon: Kymera Therapeutics — The biotech stock soared 17% after Kymera entered the Phase 2b Broaden2 trial of its KT-621 drug aimed at treating atopic dermatitis. BlackBerry — Shares rose 20% after the software company and former maker of the eponymous mobile phone reported better-than-expected first-quarter results. BlackBerry earned an adjusted profit of 4 cents per share on revenue of $152.9 million. Analysts had expected revenue of $137.2 million and earnings of 3 cents per share, according to FactSet. Apple – The iPhone maker’s stock fell nearly 5% after Apple announced price hikes for MacBooks and iPads. The company cited growing demand and rising costs for memory and storage as contributing factors. AeroVironment – The maker of unmanned aircraft systems fell 4%. AeroVironment is scheduled to report fourth-quarter results next Monday, with analysts expecting earnings of $1.46 per share and revenue of $557.2 million, according to FactSet. AeroVironment’s stock price has been on a decline for the fourth day in a row after the company revealed earlier this week that it would have to revise its results for the three- and nine-month periods ended January 31. Hertz Global — The rental car company fell more than 9% after an offering of 37 million shares at $2.70 per share. Hertz will not receive any proceeds from this sale. Instead, the shares will be lent by Hertz to JPMorgan, which will receive all of the proceeds. JPMorgan plans to sell the borrowed stock and use the resulting short position to facilitate trades by investors. [Hertz notes] Micron — The memory chip maker soared 15% after reporting better-than-expected third-quarter profits. Micron’s adjusted earnings were $25.11 per share, beating analysts’ estimates of $20.78 per share compiled by LSEG. The company’s sales also exceeded expectations, quadrupling to $41.46 billion from $9.3 billion in the same period last year. QUALCOMM — Shares rose 8% after the semiconductor manufacturer nearly doubled its non-mobile phone sales to $40 billion in 2029, and the memory company’s sales rose 18% after the company raised its memory stock sales to $15 billion in 2029, while Wendy’s Inc.’s stock fell nearly 5%. The Singapore-based online travel agency’s U.S.-listed shares fell nearly 2% after its fourth-quarter adjusted profit and revenue fell short of expectations, while the stock rose more than 25% in Wednesday trading as retail trader momentum weakened. The life sciences company has agreed to be acquired for $73 per share. 19.7% Dollar Tree — The company fell 1.6% after a major shareholder sold its shares to JPMorgan in a block deal and Dollar Tree said it would buy back $500 million in stock from Goldman after the block deal closes — The spice company reported second-quarter adjusted earnings per share of 80 cents, beating analysts’ estimates of 69 cents compiled by LSEG. Sales were $1.94 billion, and the stock price rose 4%. CNBC’s Darla Mercado and Scott Schnipper contributed.
