Stocks Making the Biggest Moves Midday: EchoStar, Adobe, Oracle, Intel, Sandisk and More

Stocks Making the Biggest Moves Midday: EchoStar, Adobe, Oracle, Intel, Sandisk and More

Midday trading on Thursday, June 11, 2026, saw sharp swings across tech and telecom names, with earnings previews, analyst calls, and a major AI-funding announcement all moving the market at once. Here’s what actually happened — and why — with the day’s biggest movers.

EchoStar Jumps Ahead of SpaceX’s IPO

EchoStar (SATS) gained more than 8% as investors positioned ahead of SpaceX’s initial public offering, slated for that Friday. EchoStar holds a stake in SpaceX, which made it one of the more direct ways for public-market investors to get exposure to the IPO before shares actually began trading. Satellite peer Viasat also rose more than 8% the same day after the U.S. Space Force awarded it a multi-year contract for a dual-band satellite system under the Protected Tactical SATCOM-Global program.

Adobe Stock Slides Into a 52-Week Low Ahead of Earnings

Adobe shares dropped nearly 5%, touching a fresh 52-week low, as investors braced for the company’s fiscal second-quarter results due after the bell. Analysts polled by FactSet were looking for earnings of $5.82 per share on revenue of $6.45 billion — both within Adobe’s own guidance range. The pre-earnings selloff reflected lingering investor anxiety about how AI tools are reshaping demand for traditional software and creative subscriptions, a theme that has weighed on Adobe’s stock for much of 2026.

Oracle Tumbles 11% on a $20 Billion AI Funding Plan

Oracle was the day’s biggest loser among large-cap tech names, sinking 11% after the company disclosed plans to raise an additional $20 billion in equity and debt to fund its artificial intelligence infrastructure buildout. While Oracle has been one of the most aggressive spenders on AI data centers, the size of the new fundraise rattled investors already nervous about how much debt the major cloud players are taking on to compete in the AI race — a concern echoed across business and markets coverage this year.

Intel Rallies on a Double Upgrade From Bank of America

Intel moved in the opposite direction, jumping 5% after Bank of America double-upgraded the stock to buy from underperform. The firm pointed to rising demand for central processing units as companies build out “agentic” AI systems — AI that can act autonomously on tasks — arguing Intel is better positioned in that shift than the market was giving it credit for.

Sandisk and Memory Stocks Extend Their AI-Driven Rally

Sandisk climbed about 8% as memory-chip stocks broadly rebounded from a selloff the prior session. Western Digital, Seagate Technology, and Micron Technology each added around 4%. The memory sector has been one of 2026’s standout AI trades: Sandisk alone had surged as much as 858% at its peak in the first half of the year on explosive demand for AI-driven data storage, before cooling off sharply in July.

Other Notable Movers

• Chip equipment makers KLA rose almost 9% and ASML Holding added more than 5%, riding the same AI-infrastructure demand lifting Intel and the memory names.
• General Dynamics gained almost 5% after Jefferies upgraded the defense contractor to buy, setting a $400 price target — about 17% above its prior close — and pointing to strengthening near-term results.
• Navan, the travel-management platform, popped 14% after guiding second-quarter and full-year revenue above Wall Street’s forecasts.
• Space stocks broadly rallied ahead of SpaceX’s IPO, with Intuitive Machines up 12%, Redwire up 8%, AST SpaceMobile up 7%, and Rocket Lab up 5%.

The Bigger Picture

Thursday’s session captured the two competing forces driving markets in 2026: heavy, debt-fueled AI capital spending (Oracle) on one side, and stocks catching a bid because they’re seen as picks-and-shovels beneficiaries of that same AI buildout (Intel, Sandisk, KLA, ASML) on the other. Adobe’s pre-earnings slide added a third thread — questions about whether AI is a tailwind or a threat to established software businesses.

As earnings season and further AI-spending announcements continue to roll in, expect this same handful of names — Oracle, Intel, Sandisk, and the broader semiconductor and memory complex — to keep showing up among the market’s biggest daily movers.