Check out the companies making headlines in midday trading. Chip equipment stocks – Global chip equipment stocks rose on news that the Biden administration is considering further sanctions on sales of semiconductor equipment and AI memory chips to China that could be less strict than earlier proposals. Shares of U.S.-based companies Applied Materials and KLA Corp. each gained more than 3%, while Lam Research jumped 5.3% following the Bloomberg report . Dutch equipment maker ASML climbed about 3.
"The downgrade reflects our expectation for continued very high lease-adjusted leverage, weak interest coverage, and negative free cash flow over the next 12-18 months," Moody's said. Hasbro – Shares jumped more than 2% after Elon Musk floated the prospect of acquiring the toymaker to secure the rights to Dungeons and Dragons. Retail stocks – Major retail stocks were fractionally higher as Black Friday shopping kicked into high gear across the U.S.