Check out the companies making the biggest moves at noon: Kymera Therapeutics — The biotech stock soared 17% after Kymera entered the Phase 2b Broaden2 trial of its KT-621 drug aimed at treating atopic dermatitis. BlackBerry — Shares rose 20% after the software company and former maker of the eponymous mobile phone reported better-than-expected first-quarter results. BlackBerry’s revenue was $152.9 million, or an adjusted 4 cents per share. Analysts had expected revenue of $137.2 million and earnings of 3 cents per share, according to FactSet. Apple — The iPhone maker’s stock fell nearly 5% after Apple announced price hikes for MacBooks and iPads. The company cited growing demand and rising costs for memory and storage as contributing factors. AeroVironment — Shares of the unmanned aircraft systems maker fell 4%. AeroVironment is scheduled to report fourth-quarter results next Monday, with analysts expecting earnings of $1.46 per share and revenue of $557.2 million, according to FactSet. Shares are on pace to decline for a fourth consecutive day after AeroVironment disclosed earlier this week that it would have to restate its financial results for the three and nine months ended Jan. 31. Microsoft — Shares fell to a trading low and were last down 3.8% after the tech giant announced it would increase the price of its Xbox consoles by $100 for a 512-gigabyte model and $150 for a 1-terabyte model. “Unlike phones, computers, speakers, and other consumer devices, gaming consoles are typically sold at a price that is less than the cost of manufacturing them, rather than at a profit,” Microsoft said in a statement. Hertz Global — The car rental agency’s stock fell more than 9% after an offering of 37 million shares at $2.70 per share. Hertz will not receive any proceeds from this sale. Instead, the shares will be lent by Hertz to JPMorgan, which will receive all of the proceeds. JPMorgan plans to sell the borrowed stock and “use the resulting short position to facilitate transactions that allow (Hertz note) investors to hedge their investments through short sales and private derivative transactions.” Micron — Shares of the memory chip maker soared 15% after third-quarter profits beat expectations. Micron’s adjusted earnings per share were $25.11, beating analysts’ estimates of $20.78 compiled by LSEG. The company’s sales also exceeded expectations, quadrupling to $41.46 billion from $9.3 billion in the same period last year. Qualcomm — Shares rose 8% after the semiconductor maker nearly doubled its 2029 non-mobile device revenue forecast to $40 billion from its previous estimate of $22 billion. The company is also targeting data center sales of $15 billion in the same year. Memory stocks — Stock prices of memory companies also rose. SanDisk stock rose 18% and Western Digital stock rose 7%. Lam Research stock rose 5%. Wendy’s — Shares fell nearly 3%, reversing double-digit gains in early trading, as retail traders appeared to slow down. Shares rose more than 25% in Wednesday trading on the back of a retail frenzy. Trip.com — The Singapore-based online travel agency’s U.S.-listed shares fell nearly 2% after fourth-quarter adjusted profit and revenue fell short of expectations. Bio-Techne — The life sciences company has agreed to be acquired by pharmaceutical company Merck for $73 per share. The stock price rose 19.7%. Dollar Tree — Shares fell 1.6% after the discount retailer announced its majority shareholder would sell its shares to JPMorgan and Goldman Sachs in a block deal. Dollar Tree announced that it would buy back $500 million in stock from Goldman after the block transaction was completed. McCORMICK — The spice company’s second-quarter adjusted earnings were 80 cents per share, beating the 69 cents expected by analysts surveyed by LSEG. Revenue was $1.94 billion, beating the consensus estimate of $1.91 billion. The stock price rose 4%. — CNBC’s Darla Mercado and Scott Schnipper contributed reporting
