Apple, Tesla, Starbucks and more
Apple signage at the Apple campus, Cupertino in California.
Getty Images| Bloomberg | Getty Images
These are the headline-grabbing companies in midday trading.
Apple — The tech giant saw its shares jump more than 3% after Morgan Stanley’s Katy Huberty raised Apple’s price target from $164 to $200 and maintained an overweight rating. Analyst believes new Apple products, such as an augmented reality headset and self-driving vehicle, have yet to be incorporated into the share price.
Starbucks — Starbucks shares rose nearly 3% after MKM Partners upgradedName was upgraded to a buy rating by neutral. The stock’s price target has been increased. According to the firm, recent stock performance underperformance has created an opportunity for buyers.
American Airlines – The airline’s shares gained 1.5% after announcing Doug Parker will retire as CEO next year and be succeeded by the company’s president, Robert Isom, on March 31. American’s chairman will continue to be Parker.
AutoZone – Shares of AutoZone rose 6.6% after the auto parts retailer reported a better-than-expected quarterly report. Refinitiv estimates that the company will earn $25.87 per share. However, they posted a quarter-end profit of $25.69 per shares. The revenue beat all estimates and the comparable-store sales rose 13.6%.
Designer Brands — Shares of Designer Brands soared more than 16% in midday trading after reporting better-than-expected quarterly earnings. Refinitiv reported that the earnings were 86c per share. This is well ahead of estimates of 56c per share. Revenue, however, missed estimates.
GlaxoSmithKline – The British pharmaceutical company saw its shares rise more than 1% after it said its monoclonal antibodies treatment is effective in treating all 37 identified mutations of omicronAccording to early-stage data, it is.
Intel — Intel shares rose 4.6% after the chipmaker announced plansIt plans to make its autonomous driving car public by mid-2022. In 2017, the company bought Israeli autonomous driving company Mobileye.
Acadia Pharmaceuticals — Acadia shares rallied 9.4% after the pharmaceutical company announced positive resultsIn a late stage trial, the experimental treatment was tested for Rett Syndrome (a genetic disorder that affects brain development in young girls)
Bumble — Shares of Bumble rallied 11.4% after JPMorgan upgraded the stock to overweightFollowing a meeting, the firm was more positive. After a meeting with company management, the firm was more confident in the app’s potential user growth.
— CNBC’s Maggie Fitzgerald, Yun Li and Tanaya Macheel contributed reporting