Stocks making the biggest moves midday: Coherent, Victoria's Secret, Marvell, HPE, Generac, Intuit & more

Here are the companies making headlines in midday trading. Generac — The power generator stock climbed almost 6% after the company said it would supply backup power for a "leading hyperscale data center operator." CEO Aaron Jagdfeld said, "This agreement positions Generac at the heart of supporting essential services and the digital economy." USA Rare Earth – The mining and manufacturing company gained close to 5% after announcing a $1.2 billion investment toward building a magnet manufacturing and refined metals facility in South Carolina Intuit – The maker of TurboTax dropped nearly 9% on the back of a Goldman Sachs downgrade to sell from hold. The firm sees shares falling about 22% from Monday's close. "Our primary concern is that Intuit is entering a period of heightened competition in tax," wrote analyst Gabriela Borges, adding that the firm expects shares to be "rangebound over the next several quarters." Shake Shack — The fast casual burger chain tumbled 10% after cutting its full-year earnings outlook along with its second-quarter revenue guidance. Shake Shack cited the "current macroeconomic uncertainty, competitive landscape, and related impacts" for the lower forecast. Optical stocks – Photonics companies linked to artificial intelligence and data center infrastructure saw shares surge on Tuesday after Hewlett Packard Enterprise reported rising AI-related demand in its server unit. Coherent surged 16%, while Lumentum added 13%. …