Market movers: Oracle, SpaceX, and more see significant midday shifts

Conversely, IDEXX Laboratories saw a 20% increase in share value after exceeding third-quarter earnings and revenue expectations, largely due to growth within its Companion Animal Group. The company reported revenue of $1.21 billion, a 10% increase year-over-year, and adjusted its financial forecasts.

Tempus AI’s stock rose nearly 12% after the precision-medicine company reported earnings, revenue, and adjusted EBITDA that surpassed Wall Street projections. Revenue reached $411.5 million, with data and applications experiencing a 33% growth and oncology volume accelerating to 32%. The company also revised its revenue forecast for 2026.

SpaceX experienced a greater than 3% increase after a report in The Washington Post indicated the company is considering acquiring Dish Network’s Boost Mobile subsidiary or utilizing its network, potentially allowing CEO Elon Musk to enter the $235 billion wireless market.

Rivian’s stock climbed 10% after receiving a ‘buy’ rating from UBS, with analyst Joseph Spak suggesting the recent stock decline presents a favorable buying opportunity ahead of the launch of the R2 midsize SUV.

Memory stocks, including Micron, Sandisk, and Western Digital, decreased between 3% and 5%, continuing a downward trend from Friday.

Marvell Technology’s shares fell 9%, and Lumentum’s slumped 15% after Marvell announced an all-stock acquisition of Lumentum valued at $115 billion. The deal is anticipated to finalize in the first half of 2028.

Energy stocks like ExxonMobil, Chevron, and Valero dipped as oil prices decreased. These stocks retreated between 3% and 5%.

Krystal Biotech’s stock plummeted nearly 15% after the company announced delays in data releases for several treatments, including its KB801 gene therapy for neurotrophic keratitis, pushing the readout to 2027. Despite this setback, the company exceeded earnings expectations.