Tesla, Southwest, Apple, AMC and more
A sign hangs in front of an AMC theater on January 27, 2021 in Chicago, Illinois. Shares of AMC Entertainment more than quadrupled today as investors continue their buying spree on heavily shorted stocks.
Scott Olson | Getty Images
Check out the companies making headlines in the midday trade.
Tesla – The electric car share rose more than 3% after sales during ten of the last 11 trading sessions. Baird also cut his price target on shares to $252 from $316 per share.
Southwest Airlines – Shares of the airline fell 2.5% as it continues to run a reduced schedule. Southwest canceled 60% of its flights scheduled for Wednesday, while rival airlines clamped down on fares in a bid to help stranded travelers.
AMC Entertainment – AMC Entertainment stock fell about 3% a day after CEO Adam Aron tweeted that he asked the company’s board to freeze his salary for 2023 and urged other managers to forego pay cuts.
Generac — The equipment maker gained 5% after Janney Montgomery Scott’s initiation by purchase. The firm gave the stock a price target of $160, which represents a 75.5% upside from Tuesday’s close.
Nine — Shares in the electric car manufacturer fell 2%. It builds on Tuesday’s 8% slide, which came after it announced production cuts for the fourth quarter due to the Covid outbreak.
Energy stocks – A number of energy companies fell as oil and natural gas prices fell. EQT fell more than 6%, WHAT fell 3.6% and coterra lost 3.5 percent. These three names were among the biggest losers in the S&P 500 in midday trading.
Maxeon — Shares fell 8% after the solar company announced that Bill Mulligan would become its new CEO. He was previously operations manager at Sila Nanotechnologies.
apple — The technology giant’s shares fell 1.5 per cent. The stock has fallen over the past three days, hitting a new 52-week low on Wednesday.
IDEAYA Biosciences — IDEAYA rose nearly 5% following an overweight initiation by Capital One Securities. The firm gave the stock a price target of $29, which represents a 75.4% upside from where it closed on Tuesday.
Kala Pharmaceuticals — The biopharmaceutical company surged more than 200% following the Food and Drug Administration’s acceptance of a new investigational application for its potential treatment for persistent corneal epithelial defect.
— CNBC’s Samantha Subin, Tanaya Macheel and Sarah Min contributed reporting.
