Check out the companies making headlines in the midday trading: Apple – Stocks added over 2% as they rose sharply on Monday. President Donald Trump announced Friday that some electronic devices and components will be exempt from US tariffs. This policy benefits Apple, given that the majority of iPhone manufacturers’ products are manufactured in China. Several Wall Street analysts were released after the exemption, but Apple said it still faces growth concerns amid the weak macroeconomic environment. China Tech Stocks – The US stocks of Chinese tech companies have been acquired following the Trump administration’s move to exempt smartphones, computers and semiconductors from “mutual” tariffs. Ecommerce Giants’ shares in Alibaba and PDD have moved up more than 5% each, while other stocks such as JD.com and Baidu have risen by more than 4% and 3% respectively. Palantir Technologies – Software inventory rose 4% after NATO announced it had confirmed its acquisition of Palantir’s Maven Smart System, an artificial intelligence-enabled combat system. NATO plans to use the system within the related command operations within the next 30 days. Viking Treatment – Clinical stage biopharma stocks have skyrocketed by about 8% after saying Monday that clinical stage biopharma stocks are halting the development of a daily weight loss drug known as Danuglipron. Pfizer’s decision comes after a patient experiences drug-induced liver damage during the trial. Traders now speculate that the company could attempt to enter the GLP-1 space via acquisitions. Viking has oral and injectable GLP-1 drugs in clinical trials. Goldman Sachs – Shares rose more than 2% after investment banks’ first quarter results beating expectations on the Wall Street top and bottom line. Goldman Sachs earned $14.12 per share with revenues of $15.06 billion, exceeding $12.35 per share, surpassing $148.1 billion that analysts surveyed by LSEG had predicted. Dell Technologies – After weekend news, computer hardware stock rose more than 4% after news that some of the tariffs on technology products from China have been temporarily rewind. Intel – The shares have been acquired nearly 5% after the chipmaker announced that it would sell Altera’s majority stake to private equity firm Silver Lake. The deal is expected to close later this year. BEST BUY – E-retailers have surged nearly 5% behind the White House’s mutual tariff exemption on electronic goods. – Reported by Hakyung Kim, Jesse Pound, Lisa Kailai Han and Pia Singh of CNBC.
