Noon: Check out the companies that make Semtech. Semiconductor manufacturers raised 17% with better-than-expected second-quarter results and strong third-quarter revenue guidance. The company recorded second-quarter earnings of 41 cents per share, excluding certain items, with revenue of $27.6 million. Analysts were expecting a profit of 40 cents per share against revenues of $256.1 million. In the third quarter, SemTech expects revenues of $266 million. Cracker Barrel Old Country Store – Stocks rose 4.5%, rebounding after losing for the seventh day in a row with a widespread backlash of new logos and rebranding. On Tuesday, President Donald Trump placed emphasis on the controversy and said restaurants should return to their old logos. Paramount Skydance – Media companies poured 4% and returned some of the sudden profits of the month. Paramount share rose 21% in August. Brown-Forman – The whiskey maker will retire on May 1, 2026 after announcing Chief Financial Officer Leanne Cunningham, a 30-year company veteran. The stock has lost more than 20% to date as it tackles the impact of tariffs. ECHOSTAR – Telecommunications stock has skyrocketed 80% after AT&T said it would buy a wireless spectrum license from Echostar for $23 billion. AT&T said the deal should close in mid-2026. AT&T lost more than 1%. Eli Lilly – The Pharma giant rose 2% after the company’s weight loss pill Orforglipron cleared another late trial. High doses of the pill helped patients lose 10.5% of their body weight in an average of 72 weeks, compared to just 2.2% weight loss in the placebo group. Canada Goose, VF Corporation, Rocky Brand – All retail stocks have been traded after being upgraded to Baird’s Outperform. Canada Goose, along with VF Corporation, popped nearly 6%. The Rocky brand was outperformed, rising 12%. Advanced Micro Devices – After an upgrade to purchase from holds on Truist, semiconductor inventory has increased by 1%. Analyst William Stein noted that hyperscale customers are increasingly partnering with the company and “expressing genuine interest in deploying AMD at scale.” OKLO – Shares have popped nearly 5% after Bank of America launched with a buy rating on nuclear technology companies. Analyst Dimple Gosai says that nuclear is an industry that is regaining momentum, and Okro appears to be “suitable to meet AI’s rising energy needs.” Beer distributors fell 2% after Constellation Brands – Bank of America downgraded from Neutral to a performance decline. The bank said further downsides in the consumption of the beer industry could undermine Constellation’s sales and margins. – Reported by CNBC’s Sarah Min, Michelle Fox, Lisa Han and Alex Harring.
