Check out the companies making the biggest moves at noon: TopBuild – Insulation installer raised nearly 8% after agreeing to buy specialty products and insulation for $1 billion in cash. “Adding SPI’s resources and capabilities further strengthens our customer value proposition and our complementary manufacturing footprint strengthens and expands our presence across North America,” TopBuild CEO Robert Buck said in a statement. Confluent – data infrastructure platform jumped 9% after Reuters reported it was considering a sale after attracting acquisition interest. Reuters cited unnamed people familiar with the matter saying the potential sale began after private equity firms and other technology companies expressed interest in buying. CG Oncology – Cancer stock rose more than 8% after Guggenheim initiated coverage with a buy rating and a price target suggesting a significant gain. The company said it is bullish on CG’s non-muscle invasive bladder cancer treatment. Alcoa – The aluminum maker jumped more than 4% after Wells Fargo initiated research coverage with an overweight rating and a $40 price target, according to Factset. Penguin Solutions – The enterprise solutions provider for the computing, memory and LED markets sank 16% after reporting a fourth-quarter earnings miss. Revenue was $338.3 million, compared to the FactSet consensus estimate of $342.1 million. Adjusted earnings per share exceeded expectations. Freeport-McMoran – Citi upgrades and buys FCX for a 5% jump, hoping for higher copper prices in 1H 2026. Viasat – the satellite communications provider jumped nearly 9% after winning a contract from the U.S. Space Force’s Protected Tactical Satcom Global Program. ViaSat is one of five companies in the program and will build a network of satellites with anti-jamming capabilities. FreshPet – The pet food maker fell about 7% after Bofa downgraded FreshPet to neutral from buy and cut its price target from $81 to $60. Joby Aviation – Shares of the electric air taxi maker slipped 6% after the company raised $514 million by pricing 30.8 million secondary shares at $16.85 each. AST SPACEMOBILE – Broadband cellular network surged 9% after signing a deal with Verizon to provide customers with cell service from Space starting in 2026. Verizon fell 0.4%. Trilogy Metals – Canadian copper explorer’s US-registered shares added another 4% after more than tripling in price when the White House said the US would take a 10% stake in a company aiming to open a new mine in remote Alaska. Rocket Lab – The aerospace manufacturer climbed more than 6% after securing contracts for three additional rocket launches. Metals Companies – The offshore mining company fell nearly 6% after spiking on Tuesday on speculation it could reach a deal with the Trump administration. Ionis Pharmaceuticals – The drug maker added 3% to the JPMorgan upgrade overweight from Neutral. Jpmorgan said Ionis had an “active” September and provided “encouraging” updates at its innovation event. Figma – Design software vendor surged 15% after Openai said it would integrate its technology into ChatGPT. FAIR ISAAC – The credit bureau suspended more than 9% after Equifax said VantagesCore 4.0 mortgage credit scores cost $4.50 over two years, less than half the price of FICO. Equifax added 2%. NVIDIA – The dominant maker of AI semiconductors rose nearly 2% on reports that the chipmaker will help raise capital for Xai chips as part of a $20 billion deal. – CNBC’s Fred Imbert, Michelle Fox, Christina Chedderberg, Spencer Kimball, Lisa Han and Alex Harling reported. (Learn the best 2026 strategies from inside the NYSE with Josh Brown and others on CNBC Pro Live. Tickets and information here.)
