Midday Fly By: Nvidia launches Rubin platform, Vistra to acquire Cogentrix

The major averages were broadly higher near noon for the second day in a row, with the Dow up more than 300 points as blue chip stocks appear to be creating a strong lift. Amazon was trading higher near midday, while other AI-related stocks are also on the rise amid dozens of major announcements in the space at this year’s Consumer Electronics Show. Still, some reluctance remains from traders as they await fresh near-term catalysts, especially as they look ahead to key economic data including employment reports later this week.

Looking to commodities, gold prices were higher once again, with the “safe haven” asset inching toward the $4,500 mark. Oil prices were fractionally lower, meanwhile, ahead of this afternoon’s API crude numbers.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

• Nvidia (NVDA) launched the Nvidia Rubin platform, comprising six new chips designed to deliver “one AI supercomputer”
• Vistra (VST) agreed to acquire Cogentrix Energy for $4B
• Microchip (MCHP) raised its Q3 revenue guidance, with CEO Sanghi expecting a “fairly broad-based recovery” in most of the company’s end markets
• Meta Platforms (META) has paused the planned expansion of the Meta Ray-Ban Display
• NXP Semiconductors (NXPI) and GE HealthtCare (GEHC) are collaborating over AI in acute care

2. WALL STREET CALLS:

• Brinker (EAT) upgraded to Buy at UBS
• Deutsche Bank upgraded Shake Shack (SHAK) to Buy on early 2026 catalysts
• Core Scientific (CORZ) upgraded to Buy at BTIG
• Shopify (SHOP) downgraded to Peer Perform at Wolfe Research amid high expectations
• Chevron (CVX) and Exxon Mobil (XOM) downgraded to Sell at Freedom Capital

3. AROUND THE WEB:

• A Chinese hospital says Alibaba’s (BABA) PANDA AI tool has analyzed more than 180,000 CT scans to help doctors detect roughly 24 pancreatic cancer cases since its November 2024 rollout, NYT says
• Intel (INTC) said it intends to launch an “entire handheld gaming platform with Panther Lake” chips later in 2026, Verge reports
• KKR (KKR), Warburg Pincus, and EQT Partners are among the bidders looking to acquire TPG’s Southeast Asia school business, WSJ reports
• Eni (E) and Repsol (REPYY) have supplied Venezuela with gas and naphtha for several years, which were used to dilute the country’s heavy oil for transport, but the companies are struggling to recover payments of about $6B from the country and are facing indifference from U.S. officials, FT says
• Buyout firm Hg confirmed reports that it struck a deal to acquire financial software maker OneStream (OS)

4. MOVERS:

• Alums (ALMS) increases after announcing Phase 3 trial of envudeucitinib met all primary endpoints
• Terrestrial Energy (IMSR) gains after executing an OTA agreement with the U.S. DOE for Project TETRA
• Aeva (AEVA) higher after its Frequency Modulated Continuous Wave 4D LiDAR technology has been selected for the NVIDIA (NVDA) DRIVE Hyperion autonomous vehicle reference platform
• Staar Surgical (STAA) lower after announcing its intention to terminate its merger agreement with Alcon (ALC)
• SoFi Technologies (SOFI) falls after BofA resumed coverage of the stock with an Underperform rating

5. EARNINGS/GUIDANCE

• AngioDynamics (ANGO) reported Q2 results, with CEO Jim Clemmer commenting, “We delivered an excellent second quarter”
• Trinity Industries (TRN) raised its guidance for FY25
• Newton Golf (NWTG) provided guidance for FY25
• JFB Construction (JFB) provided guidance for FY25, with CEO Joseph Basile, III, commenting, “Our growth in 2025 represents ongoing projects in several key business verticals”
• Energy Transfer LP (ET) provided guidance for FY26

INDEXES:

Near midday, the Dow was up 0.68%, or 331.23, to 49,308.41, the Nasdaq was up 0.23%, or 52.76, to 23,448.58, and the S&P 500 was up 0.33%, or 22.48, to 6,924.53.