These Stocks Moved the Most Today: EchoStar, AT&T, AMD, Lilly, Boeing, DJT, Talen, Semtech, and More

Traders on the floor of the New York Stock Exchange. (Michael M. Santiago/Getty Images)

Stocks rose Tuesday after President Donald Trump said he fired Lisa Cook from her job as a Federal Reserve governor, stoking concerns about the central bank’s independence.

These stocks made notable moves Tuesday:

AT&T fell 0.6% after the telecommunications company said it intended to buy spectrum licenses from EchoStar for $23 billion in cash. AT&T said the purchase would give it the exclusive rights to a slice of the radio frequency spectrum in specific areas, and would help it to “maintain long-term leadership in advanced connectivity across 5G and fiber.” EchoStar shares jumped 70%.

Interactive Brokers was up 0.9% after wavering throughout the session. S&P Dow Jones Indices announced the online broker would be replacing Walgreens Boots Alliance in the S&P 500 at the open of trading on Thursday. Walgreens is being acquired by the private-equity firm Sycamore Partners in a deal expected to be completed soon.

Talen Energy jumped 6.5% after the power generator was selected to replace Interactive Brokers in the S&P MidCap 400 index, also effective Thursday.

Advanced Micro Devices gained 2% to $166.62. Analysts at Truist upgraded the stock to Buy from Hold and raised their price target to $213 from $173. The company may be able to eat into Nvidia’s share of the lucrative data-center graphics processing unit market, the analysts said. AMD also unveiled a “quantum-centric supercomputing” partnership with International Business Machines.

Eli Lilly’s experimental weight-loss pill orforglipron resulted in up to 10.5% weight-loss in overweight or obese patients with Type 2 diabetes in a late-stage trial. Shares of the pharmaceutical company rose 5.9%.

Boeing rose 3.5% after the aircraft maker announced
that Korean Air was ordering 103 planes. The order will be worth some $20 billion at list prices.

Vertiv Holdings was up 2.3%. The data-center infrastructure company said it was acquiring Waylay, a Belgium-based software maker specializing in generative AI, to manage its power and cooling systems.

Palantir Technologies rose 2.4% after declining 1% on Monday. CEO Alex Karp unloaded more than 400,000 shares in the data-analytics company last week, according to a filing with the Securities and Exchange Commission.

Nvidia gained 1.1%. Shares have gained 35% this year. The chip maker is scheduled to report second-quarter earnings on Wednesday.

Analysts at Baird upgraded both Canada Goose and VF Corp. to Outperform from Neutral. Canada Goose, the Canadian winter apparel brand, rose 3.2%. VF, which owns The North Face, Timberland, and Vans, was up 6.2%.

Trump Media & Technology Group rose 5.2% after the parent company of Truth Social announced a partnership with Crypto.com. Truth Social and the Truth+ streaming platform will allow users to convert rewards for participating on the platforms into Cronos tokens through Crypto.com digital-wallet infrastructure. Cronos, or CRO, is a blockchain and corresponding token.

Heico, the maker of aerospace aftermarket parts, reported fiscal third-quarter earnings of $1.26 a share, better than analysts’ estimates of $1.13. Revenue of $1.15 billion topped forecasts of $1.12 billion. The stock was up 8.8%.

Semiconductor company Semtech posted second-quarter adjusted earnings of 41 cents a share, beating analysts’ estimates by 1 cent, as revenue of $258 million rose 20% from a year earlier and topped consensus. Semtech said it expects third-quarter adjusted earnings of 44 cents a share, plus or minus 3 cents, in line with estimates. Shares surged 15%.

Earnings reports are expected Tuesday from MongoDB, Okta, Box, nCino, and PVH.

Write to Joe Woelfel at joseph.woelfel@barrons.com and Mackenzie Tatananni at mackenzie.tatananni@barrons.com