Stocks making the biggest moves midday: Corning, Qualcomm, Wendy’s, Trade Desk & more

Here are the stocks making headlines in midday trading. Trade Desk – Shares tumbled almost 7%, putting the advertising tech company on pace for a fourth negative day in a row. HSBC cut its rating on Trade Desk to reduce from hold and slashed its price target to $20 from $31, implying about 13% downside from Friday's close. Several Wall Street firms have downgraded the stock since the Trade Desk reported first-quarter earnings that missed expectations last week, along with disappointing guidance for the current quarter. Corning – Shares of the specialty glass and optical fiber company jumped 10%. Bank of America added Corning to its U.S. 1 List of top buy-rated investment ideas. Shares are on pace for a six-day winning run, surging since Nvidia announced it would invest up to $3.2 billion in Corning and partner with the company to open three new manufacturing plants focused on optical technologies. Chip stocks – Semiconductor stocks rose to start the week as investors continued their buying spree in the sector. The VanEck Semiconductor ETF (SMH) popped more than 1%, while Qualcomm surged 7% to touch a new 52-week high. Western Digital rose nearly 8%, while Nvidia gained 3%. Wendy's – The fast-food chain tumbled 6%. JPMorgan downgraded Wendy's to underweight from neutral, giving the stock a new price target of $6 and implying about 18% downside from Friday's close. The firm cited a "continued decline" in headline U.S. …