Alibaba shares rose more than 3% after CEO Eddie Wu announced at the Apsara Conference that Alibaba Cloud plans to operate more than 20 gigawatts of data centers globally by 2032, along with the launch of the Zhenwu V900 chip. Quest Diagnostics and Labcorp each dropped more than 5% after the Centers for Medicare & Medicaid Services released a report showing that Medicare has been paying 16% more than private payors for laboratory services. Vicor rallied 9% after raising its third quarter guidance with sequential revenue growth expected above 20%, compared to the prior forecast of nearly 10%. Swiss sportswear company On Holding jumped more than 6% after setting new midterm financial targets, including net sales of at least CHF 5.6 billion by 2029 and a gross profit margin of 65%.
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