Check out the companies that are making headlines in midday trading.
Tesla – The electric vehicle company grew more than 7% to a new record high. Tesla’s market cap jumped over $ 800 billion for the first time on Friday more valuable than Facebookand the fifth most important component of the S&P 500. Evercore ISI also updated Tesla Inline from underperform.
micron Semiconductor company’s shares rose more than 1% after Micron beat expectations for the first quarter of the fiscal year. The company reported adjusted earnings per share of 78 cents and sales of $ 5.77 billion. Analysts polled by Refinitiv expected 71 cents per share and sales of 5.73 billion US dollars. Micron’s sales and gross margin increased year over year.
TripAdvisor – Shares rose more than 8% after Deutsche Bank added a short-term purchase call to the online travel company that it describes as a major player in “post-vaccination travel recovery”. However, the Wall Street company reiterated its long-term hold rating on the stock. Shares rose more than 20% in January.
Sarepta Therapeutics The proportions fell 50% after top-line results for a Sarepta gene therapy study showed statistically insignificant results from the placebo group. The therapy was developed for patients with Duchenne muscular dystrophy. According to FactSet, several Wall Street firms downgraded the stock after the news.
US Steel – According to an analyst from Deutsche Bank, the shares rose by almost 13% upgraded the steelmaker to buy from the sale. The analyst said US steel “has more leverage on the currently elevated steel prices because costs are largely limited”.
JetBlue The airline’s stock fell nearly 2% after Bank of America upgraded its rating on the stock to buy it from neutral. The Wall Street company is optimistic about JetBlue’s recreational business due to a vaccine-fueled economic recovery.
CVS The pharmacy company’s shares rose more than 2% after Jefferies upgraded CVS to buy from the hold. The upgrade is based on the “belief that its role in COVID-19 vaccination will produce positive results in the short term”.
Enphase Energy – The solar company’s shares fell more than 2% after being downgraded to underperform Raymond James. “Enphase is an extremely crowded trade – a textbook example of what we consider to be overly euphoric,” the company said in a message to customers. The share gained around 570% in 2020.
Plug in the power supply The hydrogen fuel cell company’s shares rose more than 14%, accelerating earnings by 35% on Thursday. The move comes after South Korean SK Group announced a $ 1.5 billion stake in the company.
F5 networks The network technology company’s shares rose more than 5% after F5 raised its financial targets. The company also announced that it will acquire software company Volterra for $ 500 million.
Goodyear tires – The tire company grew more than 6% after upgrading to Overweight at KeyBanc. “We view GT as a prime ‘earnings momentum’ stock with a remarkable multi-year de-leveraging thesis that will unlock significant stock value over time,” the company said in a statement to clients.
– CNBC’s Yun Li, Maggie Fitzgerald, Fred Imbert and Jesse Pound contributed to the coverage.
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