Stocks making the biggest moves midday: ASML, SK Hynix, SAP, Forte Bio, Brown-Forman & more

ASML slid 8% after a report said China began mass production of domestically made deep-UV chipmaking tools.

Near-term downside bias while the China competitive threat narrative spreads.

The article ties ASML’s midday drop directly to a China mass-production development, which can pressure expectations for future tool orders.

SAP ADRs jumped more than 7% after it said it would start the second part of a 10 billion-euro buyback tranche.

Supportive bias for the stock over the following sessions as traders price in the buyback execution.

The article cites a specific, attributable corporate action and links it directly to the ADR’s move.

Forte Biosciences rallied about 40% after agreeing to be acquired by Argenx for $2.2 billion in cash.

Likely continued outperformance versus market until deal-close risks emerge; volatility around deal headlines.

The article provides deal price, premium, and expected close timing, which are primary drivers for takeover spreads.

Argenx shares were down about 2% after it agreed to acquire Forte Biosciences for $2.2 billion in cash.

Near-term range-bound to slightly negative until financing and synergy details are clarified.

The article reports the immediate move but does not provide financing structure or synergy assumptions.

Rivian popped 5% after Piper Sandler upgraded it to overweight from neutral with a $20 price target.

Short-term upside bias while upgrade-driven flows persist; watch for follow-through versus broader EV tape.

The catalyst is explicit and same-day, but it is still an analyst action rather than a company fundamental print.

Baker Hughes rose about 6% after posting better-than-expected Q2 earnings and revenue and reiterating guidance progress.

Sustained strength possible if investors extend the beat into full-year expectations.

The article cites beat and a management quote about reaching guidance midpoint, which is actionable for near-term positioning.

Amkor Technology shares dropped 7% as it gets set to report quarterly results after the market closes.

Directionally uncertain; elevated volatility into the after-hours earnings release.

The article provides timing (after close) and the move, but no earnings expectations or new guidance.

D-Wave Quantum shares added 5% after announcing a partnership with AT&T to use its annealing quantum computers for AI efforts.

Near-term momentum likely, but follow-through depends on contract size and measurable outcomes.

The article mentions a partnership but provides no financial terms or performance milestones.