Market movers: Supermicro, Virgin Galactic, Cava Group, Novo Nordisk...

Super Micro Computer Inc (NASDAQ:SMCI) shares moved higher after the announcement of a strategic partnership with Saudi Arabian data center company DataVolt.

The deal, valued at approximately $20 billion over multiple years, involves Supermicro supplying ultra-dense GPU platforms, storage, and rack plug-and-play systems for DataVolt's hyperscale AI campuses in Saudi Arabia and the US.

Virgin Galactic Holdings Inc (NYSE:SPCE) shares surged almost 40% after the space travel company reported significant progress in its cost-cutting efforts during the first quarter.

The company reduced its operating expenses by 21% year-over-year to $89 million, narrowing its net loss to $84 million or $2.38 per share compared to a loss of $102 million or loss per share of $5.10 in the year-ago quarter.

Cava (NYSE:CAVA) reported strong first quarter financial results that beat Wall Street expectations, but shares fell almost 5% as the fast-casual Mediterranean restaurant brand maintained its cautious outlook for the full year.

The company expects same-store sales growth of 6% to 8% and restaurant-level profit margins in the range of 24.8% to 25.2%, unchanged from prior forecasts.

Applied Materials Inc (NASDAQ:AMAT, ETR:AP2) topped Wall Street expectations for quarterly profit as strong demand for advanced semiconductors helped offset weakness in memory chips and trade-related headwinds in China.

Adjusted earnings per share rose 14% to $2.39 in the fiscal second quarter ended April 28, surpassing analysts’ average estimate of $2.31, according to LSEG data.

NanoViricides (NYSE-A:NNVC) is preparing a Phase II clinical trial application for its lead antiviral candidate NV-387 to treat Mpox infections in Central Africa, marking a major step in the company’s broader strategy to address a growing range of viral public health threats with no currently approved treatments.

The Connecticut-based biotech firm recently received clearance from the Democratic Republic of Congo’s National Ethics Committee to proceed with the submission following a review of Phase I safety data and promising results from preclinical Mpox studies in lethal animal models.

Novo Nordisk (NYSE:NVO) CEO Lars Fruergaard Jørgensen is stepping down after eight years leading the Danish pharmaceutical giant, known for its blockbuster obesity and diabetes drugs Wegovy and Ozempic.

The company said on Friday the decision was made by mutual agreement with the company's board amid recent market challenges, including increased competition and a significant decline in the company's share price since mid-2024.  

Indie game developer Everplay Group PLC (LSE:EVPL) has announced a change in leadership, with chief executive Steve Bell stepping down.

Everplay chair Frank Sagnier is taking up executive duties on an interim basis, with immediate effect, and the firm has added Penny Judd as senior independent director.