Stocks making the biggest moves midday: Jabil, AppLovin, Apollo, SpaceX, Upwork & more
Midday movers included Jabil, up 5% after a UBS upgrade to Buy, and AppLovin, down 5% after Bank of America downgraded to neutral and cut its price target to $400. Aramark rose 9% after Q3 beat and raised forecast. Under Armour fell 8% on a Barclays downgrade. Upwork dropped 13% on weaker guidance. Fermi jumped 22% after a first binding lease with TensorWave for 222 MW and about $6.5B contracted revenue.
How this was made
The 30-second read
Why it matters
The most tradable catalysts are the explicit analyst upgrade/downgrade and price-target changes (Jabil, AppLovin, Under Armour) and the guidance or results surprises (Aramark, AECOM, Upwork, Hims & Hers, Plug Power, On Holding). Indirect read-through items (Apollo, KKR) and momentum-only framing (SpaceX) are lower conviction.
Market read
Midday catalysts skew toward guidance and earnings quality, with several stocks showing large single-session reactions tied to upgrades/downgrades or forecast changes.
What to watch
For guidance-driven declines (Upwork, On Holding, Hims & Hers), traders should watch whether the article omits the exact revised ranges, which can materially change the market’s interpretation.
Background
This is a CNBC midday market wrap highlighting multiple single-stock movers with catalysts including analyst rating changes, earnings/guidance outcomes, and one major binding lease announcement.
Ticker impact
Jabil shares rose about 5% after UBS upgraded the stock to Buy, citing a multiyear AI-driven growth cycle.
Near-term positive bias; follow-through depends on subsequent analyst revisions and company updates.
The article provides a specific upgrade catalyst and thesis, but no new company financials or guidance numbers.
AppLovin fell about 5% after Bank of America downgraded it to Neutral and cut its price target to $400.
Bias to further weakness or underperformance until new evidence offsets forecast-risk concerns.
The text includes both the rating change and the trimmed price target, directly tied to revenue growth forecast risk.
Apollo rose more than 6% as it was cited among asset managers benefiting from Nvidia partnering to line up over $500B in AI data-center financing.
Short-term positive drift possible; magnitude likely limited by indirect linkage.
The article attributes the move to sector/financing news, not a new Apollo-specific transaction or guidance.
KKR gained more than 6% alongside Apollo after Nvidia’s partnership news aimed at securing $500B+ for hyperscalers and frontier AI labs.
Potential continuation intraday, but less durable without KKR-specific deal confirmation.
No KKR-specific financing role, contract, or guidance change is disclosed beyond the partnership framing.
Under Armour dropped about 8% after Barclays downgraded it to Underweight, citing market share loss and lack of brand pricing power.
Downside bias until evidence counters the cited competition, tariff/input, and lead-time issues.
The catalyst is clear (rating change), but the article does not provide new company data beyond the analyst rationale.
AECOM shares fell nearly 7% after its third-quarter report showed revenue of $3.59B, down 14% year over year, with an adjusted loss.
Likely continued weakness or elevated volatility until investors gain clarity on the project charge and outlook.
The article includes concrete financial outcomes (revenue decline and adjusted loss) and attributes weakness to a project charge.
Upwork slid about 13% after Q3 guidance for EPS, revenue, and adjusted EBITDA trailed estimates and full-year guidance was cut.
Downward bias over coming sessions until the company provides a clearer path to restoring guidance.
The article explicitly states multiple guidance components missed and that full-year guidance declined.
Plug Power rallied about 13% after reporting a smaller-than-expected second-quarter loss.
Near-term positive bias, with follow-through dependent on whether margins and cash burn improve.
The catalyst is a results surprise, but the article does not provide the magnitude of the loss or guidance details.
Market effects
Nvidia’s reported $500B+ AI data-center financing partnership is a positive read-through for AI infrastructure and related capital markets activity.
Primarily US-listed large-cap and growth names; no explicit regional macro linkage beyond US trading.
Nvidia partnership framing can influence global AI capex sentiment, but the article does not detail cross-border execution.
Counterpoint
Some moves (Apollo, KKR, SpaceX) appear driven by indirect read-through or streak timing rather than company-specific fundamentals, so follow-through may be limited.
Key entities
- companyNvidia
Reportedly partnering with multiple firms to line up more than $500B in financing for AI data centers.
- companyJabil
Upgraded by UBS to Buy on a multiyear AI and healthcare growth cycle thesis.
- companyAppLovin
Downgraded by Bank of America to Neutral with a reduced price target.
- companyAramark
Q3 beat and raised full-year internally generated revenue growth forecast.
- companyUpwork
Q3 guidance and full-year guidance trailed, driving a sharp selloff.
