Top Stock Movers Now: Micron, Apple, Darden Restaurants, and More

The Dow, S&P 500, and Nasdaq added to record highs at midday Thursday, amid enthusiasm about Fed rate cuts after the Fed maintained its projection for three rate cuts this year. 

The gains were led by semiconductor firms after Micron Technology (MU) beat expectations for earnings, revenue, and guidance as it benefited from demand for artificial intelligence (AI). Semiconductor companies dominated the list of stocks leading gains in the S&P 500.

Shares of Carmax (KMX) rose after Needham upgraded the stock on optimism of a multi-year recovery in the used car market. Goldman Sachs (GS) shares also advanced after the investment bank said it raised $700 million for a new co-investment fund. 

Shares of Apple (AAPL) tumbled as the Department of Justice and 16 state and district attorneys general sued the iPhone maker for violating antitrust laws and stifling competition in the smartphone market.

Accenture (ACN) shares fell as the provider of tech and consulting services for businesses missed sales estimates and reduced its outlook, blaming a tough macro environment.

Also citing a difficult operating environment was Darden Restaurants (DRI), and the restaurant chain's shares dropped as revenue missed forecasts and same-store sales declined. 

Oil futures slipped. Gold prices gained. The yield on the 10-year Treasury note was up. The U.S. dollar was higher versus the euro, pound, and yen. Most major cryptocurrencies traded in the green.