Business

Apple, Tesla, Starbucks and more


Apple signage on the Apple campus in Cupertino, California.

David Paul Morris | Bloomberg | Getty Images

Find out which companies are making the midday headlines.

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 stance. 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 3.5% after UBS raised its price target on the stock to $ 1,000. UBS expects “no rival will even come close to Tesla in 2022”.

Starbucks – Starbucks shares rose nearly 3% after MKM Partners upgraded the name to a buy rating of neutral 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% after the news that Doug Parker will retire as CEO next year and will be replaced by company president Robert Isom on March 31. Parker will remain chairman of the board of American.

AutoZone – Shares of AutoZone rose 6.6% 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 more than 16% 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 – The UK pharmaceutical company saw its shares increase by more than 1% after it said its monoclonal antibody treatment was effective in treating all 37 identified mutations in omicron, according to new data from an early-stage study.

Intel – Shares of Intel rose 4.6% 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 – Shares of Acadia rose 9.4% after the pharmaceutical company reported positive results in an advanced-stage trial of its experimental treatment for Rett syndrome, a genetic condition that primarily affects the development of brain in girls.

Jack In The Box – Shares of Jack In The Box rose 5.4% after Deutsche Bank upgraded the stock to buy it. The company appreciated Jack In The Box’s acquisition of Mexican food chain Del Taco.

Bumble – Bumble shares rose 11.4% 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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