Check out the companies making the biggest moves in midday trading: SpaceX — Shares of the rocket maker fell for the fourth-straight session, dipping below its $135 initial public offering price for the first time. Apple , Alibaba and Baidu — Apple shares rose about 4% to a fresh high after its Apple Intelligence cleared a major regulatory hurdle in China, which will allow the service to be used on iPhones in the country. No launch date is set yet, but the news also lifted shares of Alibaba and Baidu, which will partner with Apple on the effort. Alibaba gained 5%, while Baidu added 2%. Memory stocks — The group was pulling back in midday trading Wednesday after big gains in the prior session. Micron , Seagate and Western Digital shares each fell around 8%, while Sandisk tumbled more than 11%. The move comes amid some speculation that competition with Chinese memory chipmakers could be poised to intensify. These fears were stoked by reports that rival ChangXin Memory Technologies , also known as CXMT, is seeing strong demand for its Shanghai listing. Cava — Shares of the fast-casual food chain climbed 5.5% following an upgrade to overweight from equal weight by Morgan Stanley. The bank said Cava has a “defensible” valuation and is “one of the strongest fundamental stories in restaurants.” Lionsgate — The movie studio’s stock jumped more than 6% after Reuters r …
