Check out the companies making headlines in midday trading: Boeing — The stock climbed 3%. The aircraft maker reached a new contract proposal with its machinists’ union, which could end a strike that has been going on for more than a month. The ratification vote is set for Wednesday. Warby Parker — The eyeglass maker and retailer gained nearly 6% after Goldman Sachs upgraded shares to a buy from a neutral rating , saying its margin growth potential and solid fundamentals support its “somewhat elevated” valuation. Cigna — The insurer’s stock slid more than 4% after Bloomberg reported, citing people familiar with the matter, that Cigna has reignited merger discussions with Humana. Bloomberg’s sources said the talks are still in early stages. Humana shares were also marginally lower on the heels of the report. United Parcel Service — The parcel delivery stock dropped 2% after Barclays downgraded it to underweight from equal weight . The British bank said it sees multiple near-term challenges for the company. AppLovin — The application technology stock jumped 8% on the back of a major price target hike from Bank of America. The firm, which also reiterated its buy rating, said AppLovin’s artificial intelligence engine “ushered in a growth and profitability transformation.” Bank of America now expects shares to reach $210, a 75% increase from the prior target of $120. Southwest Airlines — The airline stock pulled back nearly 2%. CNBC reported Sunday that Southwest is engaged in early settlement talks with Elliott Investment Management , which would give the activist investor representation on Southwest’s board. ASML Holdings — The semiconductor equipment stock slipped almost 2%. Bernstein slashed its price target on ASML to $815 from $1,052, with the firm noting concern over a potentially “challenging” outlook in 2025. Atlantic Union Bankshares — The holding company for Atlantic Union Bank pulled back more than 5% after third-quarter net interest income missed analysts’ estimates. Atlantic Union reported net interest income of $186.8 million, while analysts polled by FactSet were looking for $195.0 million. Kenvue — The consumer health stock advanced more than 6% on news that activist investor Starboard Value took a large position in the Johnson & Johnson spinoff company. — CNBC’s Samantha Subin, Michelle Fox, Alex Harring and Sean Conlon contributed reporting.
Stocks making the biggest moves midday: Boeing, UPS, Cigna, Warby Parker and more
Leave a comment
:focal(1431x312:1433x310)/origin-imgresizer.eurosport.com/2024/11/07/4059686-82331368-2560-1440.jpg?w=150&resize=150,150&ssl=1)
