Midday Market Movers: Tech, Travel and Healthcare Stocks See Sharp Swings on Earnings and Forecasts
Major midday stock movements include Super Micro Computer’s 7% drop after revenue forecast cuts and quantum computing stocks surging on potential government investment. Hexcel hits 52-week high while Southwest Airlines falls despite surprise profit.
Technology Sector Sees Divergent Moves
Technology stocks experienced significant midday volatility, with Super Micro Computer slumping 7% after reportedly cutting its fiscal first-quarter revenue forecast to approximately $5 billion from previous estimates of $6 billion to $7 billion. Meanwhile, quantum computing shares surged following a Wall Street Journal report indicating the Trump administration is in talks to acquire equity stakes in several quantum computing companies. According to the analysis, Rigetti Computing gained 11%, while IonQ advanced 10% and Quantum Computing rose 8%.