Vials with Pfizer-BioNTech and Moderna coronavirus disease (COVID-19) vaccine labels are seen in this illustration picture taken March 19, 2021.
Dado Ruvic | Reuters
Check out the companies making headlines in midday trading.
5 hours ago
First Solar – The solar stock added 3% following an announcement on Monday that it will replace Fortune Brands Home & Security in the S&P 500. Fortune Brands, which is spinning off a division, will replace First Solar in the S&P MidCap 400 index. It added about 2%
Pfizer – The Covid vaccine maker gained 1% after Goldman Sachs upgraded the stock to buy from neutral, saying progress in other areas make the firm confident the stock will perform even as the need for its pandemic-related offerings decreases.
Oracle – Shares of the software company slipped more than 1%. Late Monday, the firm reported better-than-expected results in its fiscal second quarter as cloud infrastructure revenue jumped. However, Oracle did issue a lighter earnings forecast than analysts had predicted.
Fiverr – Shares of the freelance services marketplace operator gained more than 2% after Citi initiated coverage of the stock with a buy rating. The firm said stocks such as Fiverr already reflect concerns about macroeconomic weakness.
United Airlines – The airline stock shed 6% following news that it’s purchasing at least 100 Boeing 787 Dreamliners to replace its less fuel-efficient planes. The aircrafts are slated for delivery between 2024 and 2032. Boeing shares gained more than 1% on the news.
Pinterest – Shares of the social media company climbed 9% after Piper Sandler upgraded Pinterest to overweight from neutral. Analyst Thomas Champion highlighted advertisers’ positive view on Pinterest and a potential stock buyback as reasons for the upgrade.
Amazon and Meta – Shares of Amazon and Meta rose 1% and 3.8% respectively after Goldman Sachs named the stocks their top picks of 2023.
Mobileye – The automated driving company jumped 1% after JPMorgan initiated the stock as overweight, saying it had “robust fundamentals.”
Norwegian Cruise Line – The cruise giant shed 3.8% after UBS downgraded the stock to neutral from buy. The firm said the stock’s risk/reward was less attractive following its fall rally.
Block – Block rallied more than 5% after Piper Sandler upgraded the stock to overweight from neutral, saying it sees “years” of consistent earnings growth and revenue.
Hayward Holdings – Shares of the pool stock traded up 3.5% after Stifel initiated the stock as a buy and said it had solid growth prospects.
— CNBC’s Michelle Fox, Yun Li, Jesse Pound, Tanaya Macheel, Samantha Subin and Carmen Reinicke contributed reporting.
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