At midday, several companies made headlines. WestRock gained 5% as it neared a merger with Europe's Smurfit Kappa to create a $20 billion global paper and packaging firm, as first reported by The Wall Street Journal. Despite reporting quarterly revenue that surpassed Wall Street estimates alongside a lower-than-expected loss, GameStop's stock dipped 1%. Semiconductor stocks dropped as a whole, with Lam Research, Advanced Micro Devices, Qualcomm, Nvidia, and Intel all seeing decreases in their share prices; Intel was the only one to buck the trend, rising 2%. Apple declined 3.4% due to reports that China intends to expand restrictions on its iPhones to state-owned companies. Align Technology fell 7% after announcing it was acquiring 3D printing firm Cubicure in a 79 million euro transaction; Rollins stocks dropped 6% after the pest control services company unveiled a proposed public offering of $1.35 billion in common stock; Seagate Technology plummeted 8% following a Barclays downgrade; ChargePoint Holdings plunged 13% after missing fiscal second-quarter revenue estimates; Dutch Bros slid 3.4% after announcing a $300 million public offering of its Class A common stock; Dave & Buster's Entertainment declined 4% after second-quarter results missed expectations; C3.ai dropped 13% after guiding for a wider-than-expected operating loss for the fiscal second quarter; Roku was down 2% following a downgrade to hold from buy by Loop Capital; and Verint Systems plummeted 16% after reporting weaker-than-expected second-quarter earnings and revenue. CNBC's Alex Harring, Yun Li, and Pia Singh contributed to this report.
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