Stock Groups

Aerovironment, Alibaba, Boeing and more

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Alibaba headquarters will be in Hangzhou (China) on Wednesday, November 10, 2021.

Getty Images| Bloomberg | Getty Images

Take a look at the top mid-day traders.

Alibaba, JD.com, Pinduoduo — Shares of Chinese companies listed publicly in the U.S. surged as Beijing signaled support for the stocks. Chinese media reported that the Chinese government supports overseas business listing, and its crackdown against technology companies should be ended soon. Alibaba surged 27%; JD.com gained around 30% and Pinduoduo rose roughly 46%.

AeroVironment — The defense stock jumped 9% after NBC News reportedThe White House had been considering providing drones manufactured by AeroVironment for the Ukrainian government in order to counter Russian aggression.

Lockheed Martin — Shares of the defense contractor dropped 6.5% after Bloomberg News reportedThe Pentagon will reduce its request for F-35 fighter planes under the proposed fiscal budget.

Boeing — Boeing shares rallied about 4% after Baird added the aerospace company to its bullish fresh picks list. The stock of the company is still down over the past year, but investors can buy the dip since deliveries of the 737 Max in China are anticipated to resume despite recent Covid-19 case surges, analysts said.

Micron Technology — The semiconductor stock surged more than 6% in midday trading. Bernstein analysts upgraded Micron to outperformAccording to him, the company will experience huge profits once supply problems are solved later in the year.

Spotify — The streaming company’s stock price jumped more than 6% in midday trading. Spotify has signed shirt and stadium sponsorship deals with the company. Spanish soccer team FC Barcelona. Over the next 4 years, the team will have the Spotify logo printed on the uniform shirts of its members.

Starbucks — Shares of Starbucks climbed about 5.5% after the coffee giant announced CEO Kevin Johnson’s retirementAfter five years of service, JPMorgan analysts said Howard Schultz would return to the role as interim CEO. JPMorgan analyst also elevated Starbucks to overweight. The analysts said that the shares are now worth $1. could rally 22% despite recent China restrictions.

Nvidia — The chipmaker’s stock price surged more than 4% in midday trading. Wells Fargo’s analysts have added Nvidia on their “signature Picks”, claiming that Nvidia’s recent slide has provided an appealing risk/reward ratio. Wells Fargo expects positive announcements to be made at Nvidia’s investor day.

Nike — The sportswear company’s stock price spiked 4.2% in midday trading. Bernstein stated Tuesday that supply chain problems have caused the stock price to soar 4.2% in midday trading. created a buying opportunityAnalysts expect Nike to maintain its position at the top in China.

NortonLifeLock — Shares for NortonLifeLock tumbled more than 11% in midday trading after Britain signaledAntitrust regulators could conduct an “in-depth investigation” into the deal Avast, a cybersecurity company to purchase competitor Avast for $8.6 billion.

— CNBC’s Hannah Miao, Jesse Pound and Samantha Subin contributed reporting

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