Broadcom, Tilray, Rivian, Fermi, Lululemon: Stocks Making The Biggest Moves Today

• Tilray shares were up by nearly 30% in Friday’s midday trade amid reports that President Donald Trump discussed with lawmakers a potential executive order to reclassify marijuana as a less dangerous drug.
• Rivian shares were up more than 17% in Friday’s midday trade after price target hikes from Needham and Goldman Sachs.
• Fermi shares were down more than 34% in Friday’s midday session after the company said that an investment-grade tenant had terminated an agreement.

U.S. equities were in the red in Friday’s midday trade as a slide in artificial intelligence stocks entered its third day, with Oracle’s mixed second-quarter (Q2) performance beginning the slide in chip stocks this week.

Oracle reported earnings per share (EPS) of $2.26 on revenue of $16.06 billion, compared to analyst estimates of an EPS of $1.64 on revenue of $16.19 billion, according to Stocktwits data.

The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was down 1.13% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq 100 index, declined 1.85%. The SPDR Dow Jones Industrial Average ETF Trust (DIA), which tracks the Dow Jones Industrial Average, fell 0.5%.

Here are the top stocks making the biggest moves in Friday’s midday trade:

Broadcom Inc. (AVGO)

Broadcom shares were down more than 11% in Friday’s midday session after CEO Hock Tan’s $73 billion AI backlog order statement failed to impress Wall Street. Tan also pointed to lower gross margins in the company’s AI business when compared to Broadcom’s other businesses.

AVGO stock is up 57% year-to-date.

Tilray Brands Inc. (TLRY)

Tilray shares were up by nearly 30% in Friday’s midday trade amid reports that President Donald Trump discussed with lawmakers a potential executive order to reclassify marijuana as a less dangerous drug.

TLRY stock is down 18% year-to-date.

Rivian Automotive Inc. (RIVN)

Rivian shares were up more than 17% in Friday’s midday trade after price target hikes from Needham and Goldman Sachs, after the company announced that it had developed a custom chip and that it would roll out an Autonomy+ subscription to eligible vehicles in 2026.

RIVN stock is up 44% year-to-date.

Fermi Inc. (FRMI)

Fermi shares plunged by more than 34% during the midday session after the company announced that an investment-grade tenant had terminated an agreement to provide $150 million to fund the construction costs of its Matador project.

FRMI stock is down 60% year-to-date.

Lululemon Athletica Inc. (LULU)

Lululemon shares were up nearly 10% in Friday’s midday trade after the company announced a leadership change, with CEO Calvin McDonald stepping down. Lululemon CFO Meghan Frank and Chief Commercial Officer Andre Maestrini have been named as the interim co-CEOs while the company looks for McDonald’s successor.

LULU stock is down 46% year-to-date.

Also See: Buildout Of Some Oracle Data Centers For OpenAI Reportedly Pushed to 2028 Amid Worries Over Expense-Revenue Timing Mismatch

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