Apple signage on the Apple campus in Cupertino, California.
David Paul Morris | Bloomberg | beautiful pictures
Check out the companies that make headlines in midday trading.
Apple – The tech giant saw its stock rise more than 3% after Morgan Stanley’s Katy Huberty Raises Apple Price Target from $164 to $200 and maintain an overload rating. The analyst believes that new Apple products, such as augmented reality headsets or self-driving cars, have not yet been factored into the stock price.
Tesla – Tesla shares rose 3.5% after UBS raises price target per share up to $1,000. UBS expects “no competitor to come close to Tesla by 2022”.
Starbucks – Starbucks shares rose nearly 3% after Upgraded MKM Partner name for a buy rating from neutral and increase its price target on the stock. The company says the stock’s recent underperformance has created a buying opportunity.
American Airlines – Shares of the airline rose 1.5% after it was announced that Doug Parker would retire as CEO next year and be succeeded by the company’s president, Robert Isom, on March 31. March. Parker will continue to serve as American’s chairman of the board.
AutoZone AutoZone shares rose 6.6% after the auto parts retailer reported a better-than-expected quarterly report. The company posted quarterly profit of $25.69 per share, beating the Refinitiv consensus estimate of $20.87. Sales also beat estimates, and comparable store sales rose 13.6%.
Design brand Designer Brands shares jumped more than 16% in midday trading after reporting better-than-expected quarterly earnings. According to Refinitiv, the company reported earnings of 86 cents per share, much higher than estimates of 56 cents per share. Revenue, however, missed estimates.
GlaxoSmithKline – The British pharmaceutical company saw its shares rise more than 1% after it said treatment with a monoclonal antibody was effective in treating all 37 identified mutations of omicron, according to new data from an early-stage study.
Intel – Intel stock rose 4.6% after chip maker announced plans take its self-driving car unit to the public in mid-2022. The company acquired Israeli self-driving car company Mobileye in 2017.
Acadia Pharmaceuticals – Acadia stock rose 9.4% after the pharmaceutical company announced positive results in a late-stage trial of an experimental treatment for Rett Syndrome, a genetic disorder that primarily affects brain development in girls.
Jack in the box – Jack In The Box stock rose 5.4% after Deutsche Bank has upgraded shares to buy from holding. Company like Jack In The Box acquires Mexican food chain Del Taco.
Buzz – Bumble’s stock rose 11.4% after JPMorgan upgrades stock to overweight from neutral after meeting with company management. The company believes more in the user growth of the dating app.
– CNBC’s Maggie Fitzgerald, Yun Li and Tanaya Macheel contributed reporting
