Take a look at the companies making the biggest moves in the afternoon: Ares Management – The private equity investment firm rose more than 6% after reporting better-than-expected third-quarter earnings. Ares reported after-tax realized earnings per share of $1.19, beating the FactSet estimate of $1.15 per share. The stock was on pace for its best day since April 9, when it rose 15.5%. Adeia – The technology licensing company fell 17% after suing AMD for patent infringement over its semiconductor technology. “For years, AMD's products have integrated and extensively utilized Adeia's proprietary semiconductor innovations, which have contributed greatly to their success as an industry leader. After lengthy efforts to reach a mutually acceptable resolution without litigation, we believe this step was necessary to defend our intellectual property against AMD's continued unauthorized use,” Adeia CEO Paul Davis said in a statement. Kontoor Brands – The outdoor apparel maker fell 8% on weaker-than-expected fourth-quarter earnings guidance. The company expects fourth-quarter earnings of about $1.64 per share, while analysts expect earnings of $1.68 per share, per FactSet. Shutterstock — The stock photo provider fell 10% as British regulators launched a Phase 2 investigation into the company's $3.7 billion merger with Getty Images. Amkor Technology — The semiconductor packaging and testing services provider rose 15% after cutting the size of its board of directors and saying John Liu had resigned from the board and would instead become executive vice president of business development and strategy. Amazon — Shares of Amazon rose about 4.4% after ChatGPT maker OpenAI signed a $38 billion deal with the company's cloud business, Amazon Web Services. It also said it will immediately tap into hundreds of thousands of Nvidia graphics processing units with plans to expand capacity in the coming years. Iren — The data center company gained 6.7% after reaching a deal with Microsoft to give the software and cloud computing vendor access to Nvidia GB300 GPUs for $9.7 billion for five years. Semiconductor makers – The group advanced after Iren's nearly $10 billion deal to gain access to Nvidia chips, which largely improved investor sentiment on semiconductor demand. Nvidia rose 3.8%, helped by US approval for Microsoft to ship Nvidia chips to the United Arab Emirates. Micron Technology advanced 5.6%. Kenvue – The maker of Tylenol and Band-Aid rose 15% after agreeing to be acquired by Kimberly-Clark for $48.7 billion in cash and stock in a deal expected to close in the second half of 2026. Cipher Mining – The developer of bitcoin mining and artificial intelligence data centers rose 13% after third-quarter results exceeded expectations. Cipher posted a smaller-than-expected loss of 1 cent, better than the 4-cent loss expected by analysts polled by FactSet. Revenue of $71.7 million missed the consensus estimate of $77.8 million. Idexx Laboratories – Veterinary Services shares rose 13% after third-quarter revenue of $1.11 billion exceeded the $1.07 billion estimated by analysts polled by FactSet. Idexx also raised its full-year profit and revenue expectations. Freshpet – The pet food company rose 13%, while third-quarter adjusted earnings before interest, taxes and depreciation of $54.6 million exceeded the $53 million expected by analysts polled by FactSet. Revenue came in at $288.8 million, above the consensus estimate of $283.7 million. Beyond Meat – Shares of the alternative meat company, which became a meme stock in October, fell 12% after it said it was delaying its earnings report as it worked to calculate the cost of a non-cash impairment charge. Palantir – Shares of the data software platform developer rose 2%, ahead of third-quarter earnings results, which are expected to be released after the close Monday. Cisco Systems – The maker of networking hardware and telecom equipment added more than 1% after UBS upgraded the stock from neutral to buy, citing a “multi-year growth cycle driven by demand for AI infrastructure, a large-scale campus renewal cycle and momentum in security.” — CNBC's Sarah Min, Sean Conlon, Liz Napolitano, Scott Schnipper, Lisa Han, Michelle Fox Theobald, Spencer Kimball and John Melloy contributed reporting.
