Here are the companies making the biggest moves.
Paccar Jumps on Truck Tariffs
Paccar (PCAR) surged 5% after Trump announced a 25% tariff on imported heavy trucks starting October 1. The maker of Peterbilt trucks is seen as a direct beneficiary of the protectionist measure, which could tilt demand toward U.S.-manufactured vehicles.
Boeing Rallies on Turkish Airlines Deal
Boeing (BA) climbed more than 4% after Turkish Airlines confirmed an order for 75 Boeing 787 aircraft and completed negotiations to buy 150 737 MAX planes. The announcement coincided with a meeting between Turkey’s President Tayyip Erdogan and Trump. Adding to the momentum, the Federal Aviation Administration said it will allow Boeing limited delegation authority to issue airworthiness certificates for some 737 MAX and 787 jets, a move that could speed up deliveries.
Intel Gains on Investment Talks
Intel (INTC) rose 4% after a report in The Wall Street Journal said the chipmaker had approached Apple, Taiwan Semiconductor (TSMC) and others about potential investments. The news comes as Intel looks to shore up its balance sheet and reposition itself in the competitive semiconductor landscape.
Semiconductor Stocks Mixed on Tariff Threat
Shares of several chipmakers slipped after reports that Trump is considering tariffs on companies that fail to maintain a 1:1 ratio of domestic to imported semiconductor production. STMicroelectronics, Marvell Technology, and TSMC each fell about 2%. In contrast, GlobalFoundries jumped 5% and Teradyne edged up 1%, as investors bet U.S.-focused manufacturers could benefit.
Furniture and Pharma Stocks React to Tariffs
Furniture retailers slumped after Trump announced a 30% tariff on upholstered furniture. RH dropped 4% while Williams-Sonoma slipped 1%.
In pharmaceuticals, Trump unveiled a 100% tariff on branded, patented drugs imported into the U.S., with exemptions for companies building domestic plants. Eli Lilly and Merck each gained about 1%, while U.S.-listed shares of Novo Nordisk fell 2%.
Other Notable Movers
- InterContinental Hotels Group (IHG): Gained 4% after JPMorgan double-upgraded the stock to overweight and raised its price target by 22%.
- Concentrix (CNXC): Dropped 10% after Q3 earnings missed expectations, with adjusted EPS of $2.78 versus the $2.87 consensus.
- MasterBrand (MBC) and American Woodmark (AMWD): Each rose more than 5% on optimism they’ll benefit from Trump’s proposed 50% tariff on cabinet imports.
- Mirion Technologies (MIR): Jumped 12% after JPMorgan initiated coverage with an overweight rating and Politico reported the Department of Energy may announce $900 million in uranium enrichment funding.
- Six Flags (SIX): Rose 4% after activist investor Land & Buildings urged the company to monetize its real estate holdings.
- Perpetua Resources (PPTA): Climbed 14% after announcing readiness to enter long-term supply deals for antimony, citing its Stibnite Gold Project as the only U.S. reserve.
- CleanSpark (CLSK): Fell 7% after JPMorgan downgraded the bitcoin miner to neutral, citing valuation concerns.
- Riot Platforms (RIOT): Gained 2% after Citigroup upgraded the stock to buy/high risk.
- Costco (COST): Slipped 2% despite beating Q4 earnings estimates with EPS of $5.87 on $86.16 billion in revenue. Shares have lagged in 2025, up less than 3%.
- Alkermes (ALKS): Rose 5% after RBC upgraded the stock to outperform and raised its price target to $44.
The Bottom Line
Tariff headlines dominated midday trading, lifting U.S.-centric manufacturers while weighing on global importers. Meanwhile, earnings surprises and analyst calls added fuel to individual stock moves. With trade policy and corporate fundamentals colliding, investors should expect more volatility as the quarter unfolds.