Stocks with Major Movement Midday

Advanced Micro Devices (AMD) has announced its intention to acquire server builder ZT Systems in a significant cash-and-stock transaction valued at $4.9 billion. This strategic move is expected to enhance AMD's capabilities in the server market, aligning with the company's growth objectives in the technology sector. The acquisition reflects AMD's commitment to expanding its portfolio and strengthening its competitive position. In the financial markets, analyst Brian Mullan has adjusted his rating on Sweetgreen, citing a softening outlook for the fast-casual dining sector. Despite this downgrade, Mullan maintains a positive long-term perspective on the company, indicating potential for recovery and growth in the future. Meanwhile, Estée Lauder's stock saw a modest increase of about 1%, reflecting stability in the beauty sector. In other news, a U.S. judge has temporarily halted the launch of Venu, a joint sports streaming service from Disney, Warner Bros. Discovery, and Fox, following a lawsuit from FuboTV alleging anticompetitive practices. This legal development could have significant implications for the competitive landscape of sports streaming services. General Motors' stock experienced a slight uptick of less than 1%, despite announcing layoffs of approximately 600 jobs at its tech campus near Detroit. Conversely, Dutch Bros and Shake Shack saw their shares decline by 3% after Piper Sandler downgraded both stocks to neutral, citing challenging industry conditions. In contrast, Zim Integrated Shipping Services reported a remarkable 23% increase in stock value after raising its earnings outlook and reporting $1.93 billion in revenue for the second quarter.