Find out which companies are making the midday headlines.
Apple – The tech giant saw its shares jump 3.5% after Morgan Stanley’s Katy Huberty raised Apple’s price target from $ 164 to $ 200 and maintained an overweight position. The analyst believes that new products from Apple, such as an augmented reality headset or an autonomous car, are not yet integrated into the stock market.
Tesla – Tesla shares gained 4.2% after UBS raised its target price on the share to $ 1,000. UBS expects “no rival will even come close to Tesla in 2022”.
Starbucks – Starbucks shares rose 2.6% after MKM Partners changed the name from neutral to a buy rating and raised its target price on the share. The company said the stock’s recent underperformance created a buying opportunity.
American Airlines – The airline’s shares gained 1.5% at noon, then closed down 0.2% after the company announced that Doug Parker will retire as CEO next year and will be replaced by the president of the company, Robert Isom, on March 31. Parker will remain President of the United States Council.
AutoZone – Shares of AutoZone rose 7.6% after the auto parts retailer released a better-than-expected quarterly report. The company posted quarterly earnings of $ 25.69 per share, beating Refinitiv’s consensus estimate of $ 20.87. Revenue also exceeded estimates, and same-store sales jumped 13.6%.
Designer Brands – Shares of Designer Brands climbed 14.4% at midday after posting better-than-expected quarterly earnings. The company reported earnings of 86 cents per share, well above estimates of 56 cents per share, according to Refinitiv. The earnings, however, lacked estimates.
GlaxoSmithKline – UK pharmaceutical company saw shares rise 1.5% after announcing monoclonal antibody treatment is effective in the treatment of the 37 identified mutations of omicron, according to new data from an early stage study.
Intel – Shares of Intel rose 3.1% after the chipmaker announced plans to go public with its self-driving car unit in mid-2022. The company acquired the Israeli autonomous driving company Mobileye in 2017.
Acadia Pharmaceuticals – Acadia shares rose 9.9% after pharmaceutical company announced positive results in an advanced stage trial of its experimental treatment for Rett syndrome, a genetic disorder that primarily affects brain development in girls.
Jack In The Box – Shares of Jack In The Box rose 5.8% after Deutsche Bank upgraded the stock to buy hold. The company appreciated Jack In The Box’s acquisition of Mexican food chain Del Taco.
Bumble – Bumble shares rose 9.7% after JPMorgan put the stock overweight to neutral after a meeting with company management. The company is more convinced of the growth in the number of users of the dating app.
– CNBC’s Maggie Fitzgerald, Yun Li and Tanaya Macheel contributed reporting
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