Dell jumps 10% as tech stocks lead midday market moves

  • Dell Technologies shares rallied more than 10% after RBC initiated coverage with an outperform rating.
  • NuScale Power tumbled 14% after UBS cut its rating to sell and target to $6.
  • GameStop rose nearly 3% after CEO Ryan Cohen disclosed buying 1 million shares.

Dell Technologies shares rallied more than 10% in a broader technology-sector upswing, helped by RBC initiating coverage with an outperform rating. Vicor rose about 11% after announcing plans to acquire two New Hampshire sites for additional ChiP fab manufacturing, while Shopify gained nearly 4% after Bernstein began coverage with an outperform rating and set a $160 price target, implying 26% upside from Thursday's close. Skyworks Solutions climbed more than 8% after saying at a Goldman Sachs conference that its acquisition of Qorvo is expected to close before year-end, lifting Qorvo shares 5%. Qualys fell 6% after Wedbush downgraded it to neutral, and NuScale Power dropped 14% after UBS cut its rating to sell and lowered its price target to $6 from $10. Oklo slid more than 7% after entering an at-the-market common stock sale agreement. GameStop rose nearly 3% after CEO Ryan Cohen disclosed buying 1 million shares, while Oracle's post-earnings rally faded and RH gained almost 2% after beating quarterly revenue expectations.

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