Midday movers lift Microsoft, DraftKings and PTC, while Sphere Entertainment drops

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Midday movers: Microsoft, DraftKings & more

Highlights

PTC surges 33% after agreeing to be acquired by Schneider Electric for $205 per share in a deal valued above $22 billion, closing by Q3 2027.
Brazil-linked stocks rally as Flavio Bolsonaro leads the election, with the iShares MSCI Brazil ETF up 13%, Itau Unibanco up 16%, and Banco Bradesco up 19%.
Sphere Entertainment plunges 12% after Craig-Hallum Capital downgrades the stock to hold, citing weakened demand for 'The Wizard of Oz' and earnings risk for 2026–2027.

Analyst upgrades, deal news and trial results move shares

As reported by CNBC, several stocks are posting outsized midday moves as Wall Street responds to brokerage rating changes, acquisition news and company announcements.

Microsoft rises more than 1% after Melius Research upgrades the software company to buy from hold, with analyst Ben Reitzes saying the group has an advantage in artificial intelligence as security becomes a bigger focus. DraftKings gains more than 7% after Bank of America upgrades the stock to buy from neutral, citing potential fee generation from prediction markets. Wells Fargo adds 1% after Morgan Stanley lifts its rating to overweight from equal weight, while Estee Lauder advances 2% after a Barclays upgrade to overweight and Harley-Davidson jumps about 10% following a Citi upgrade to buy from neutral.

PTC surges 33% after agreeing to be acquired by Schneider Electric for $205 per share, a transaction that values the company’s equity at more than $22 billion and is expected to close by the third quarter of 2027. Vaxcyte climbs about 30% after reporting positive topline Phase 3 results for its pneumococcal conjugate vaccine in adults aged 50 and older, with immune responses comparable to Pfizer’s Prevnar 20 and Merck’s Capvaxive.

Election fallout and sector-specific concerns reshape trading

Brazil-linked stocks rally after right-wing presidential candidate Flavio Bolsonaro edges out incumbent Luiz Inacio Lula Da Silva by around 2 percentage points in Sunday’s election. The iShares MSCI Brazil ETF jumps 13%, while U.S.-listed shares of Itau Unibanco and Banco Bradesco soar 16% and 19%, respectively. Mercado Libre, which counts Brazil as a major market, gains 8%.

Taiwan Semiconductor Manufacturing rises 2% and SpaceX jumps 6% after Elon Musk confirms discussions with TSMC about helping his Terafab chip venture operate its Texas factories. Intel, which is also participating in the Terafab project, falls about 2%.

On the downside, Sphere Entertainment tumbles 12% after Craig-Hallum Capital downgrades the stock to hold from buy, citing faster-than-expected softening demand for "The Wizard of Oz" and warning that estimates for the second half of 2026 and first half of 2027 could be at risk. Millrose Properties and Lennar each fall roughly 6% after Hunterbrook Media publishes a short report questioning the economics of Millrose’s single-family rental investments and Lennar’s potential influence over company strategy.

Intercontinental Exchange’s September and Q3 2026 statistics showed a sharp acceleration in trading activity, with average daily volume up strongly year over year and open interest hitting multiple records across energy, agriculture/metals, and financial contracts. Our earlier coverage also noted that ICE has been expanding risk-management tools—such as freight futures and options—to help participants hedge volatility, a backdrop that helps explain why market-sensitive updates can quickly translate into outsized moves across related assets.

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