Stocks making the biggest moves midday: ASML, SKHY, SAP, FBRX, BF.B Skip Navigation Markets Business Investing Tech Politics Video Watchlist Investing Club PRO Livestream Menu Check out some of the companies making the biggest moves midday: ASML The maker of semiconductor manufacturing equipment slid 8%. China began mass production of domestically made deep ultraviolet chipmaking tools, The Information reported. Memory chip stocks Shares rose broadly after chipmaker CXMT debuted as a public stock in Shanghai , soaring more than 466%. SK Hynix dropped more than 8%, SanDisk slid 11% and Micron Technology lost 5%. SAP The German software company whose ADRs trade on the New York Stock Exchange jumped more than 7% after it said it would start the second part of a 10 billion-euro stock buyback announced in January, the FactSet StreetAccount service said. Energy stocks The group followed oil prices lower, after the U.S. and Iran agreed to pause attacks against each other , for now. Chevron and ExxonMobil fell about 1% each. APA and Devon Energy retreated between 1% and 3%. Forte Biosciences The biotech stock rallied about 40% after it agreed to be acquired by Argenx of Holland for $2.2 billion in cash , or $77 per share. The deal, expected to close in the third quarter, represents a premium of 40% from Forte's close of $54.78 on Friday. U.S.-listed shares of Argenx were down about 2%. Rivian Automotive Shares of the electric vehicle maker popped 5% after Piper Sandler upgraded Rivian to overweight from neutral. The firm's price target of $20 calls for 26% upside from Friday's close. Analyst Alexander Potter highlighted Rivian's recent boost to delivery guidance and the smooth launch of its R2 SUV. Brown-Forman The maker of Jack Daniel's whiskey climbed almost 4% after rejecting another unsolicited, $32-per-share takeover offer from Sazerac, first made earlier this year. The Louisville, Kentucky-based distiller said the $15 billion bid wasn't "actionable" and didn't align with the board's "vision for Brown-Forman's future." Baker Hughes Shares were up 6% after Baker Hughes posted better-than-expected earnings and revenue for the second quarter. CEO Lorenzo Simonelli said in a statement that the company also expects to reach the midpoint of its full-year guidance thanks to "favorable underlying fundamentals ... as we continue to manage through the Middle East uncertainty." Amkor Technology Shares dropped 7% as the semiconductor packaging and testing provider gets set to report quarterly figures after the stock market closes. D-Wave Quantum The company it announced a partnership with AT & T on Monday with plans to use its annealing quantum computers to bolster the telecom giant's AI efforts. D-Wave shares added 5% while IonQ and Rigetti Computing gained 6% and 7%, respectively. MapLight Therapeutics The clinical stage biotech plunged 68% after results from a Phase 2 trial of its schizophrenia treatment showed it failed to meet a primary endpoint when taken once daily , while mild side effects occurred more often than a placebo. CNBC's Darla Mercado, Ananya Chetia, Fred Imbert contributed reporting
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