According to CNBC, Sandisk, Marvell, Datadog, Cleveland-Cliffs and Amazon were among the biggest midday stock movers. Sandisk rose more than 6%, Marvell gained nearly 7%, Datadog climbed 6% after Bernstein upgraded it to outperform from market perform, Cleveland-Cliffs jumped 16% after reporting third-quarter adjusted earnings of 28 cents per share versus FactSet’s 21-cent estimate, and Amazon advanced 5% after Morgan Stanley named it a top pick and raised its price target. Bernstein analyst Peter Weed said artificial intelligence tailwinds could boost Datadog, while Morgan Stanley analyst Brian Nowak cited accelerating growth at Amazon Web Services, the potential of its Bedrock AI platform and robotics-driven efficiencies.

The VanEck Semiconductor ETF (SMH) rose nearly 3% after nine consecutive losing sessions. Nvidia gained about 2%, Advanced Micro Devices added 3% and Micron rose almost 4%. CoreWeave gained more than 1% after falling 25% last week; Goldman Sachs upgraded the stock to buy from neutral, saying contract-economics data over the next 12 months could be more positive than the market expects, while lowering its price target to $106 from $139. Ameriprise Financial fell almost 4% after Bank of America cut its rating to underperform, citing departures of several large financial-advisor teams and the effect of its cash-sweep rate on profit growth. Intel rose 4% after JPMorgan upgraded it to neutral from underweight; analyst Harlan Sur said execution had been solid and his confidence was building, while noting the turnaround would take years. The Wall Street Journal reported, citing sources, that investment bankers had approached Blue Owl Capital about a potential full or partial sale.