Micron, Alibaba, Diamondback Energy and more

Kai Pfaffenbach | Reuters

Try the businesses making headlines in noon buying and selling.

Micron — Micron shares popped greater than 6% after a Citi analyst upgraded the chipmaker to purchase from promote, citing a good supply-and-demand outlook.

Alibaba — Shares of the Chinese language e-commerce big jumped greater than 4% after CNBC’s David Faber reported billionaire founder Jack Ma is not missing and he is simply laying low in the interim. There had been speculations about Ma’s disappearance after his Ant Group noticed its record-setting IPO suspended by inventory exchanges in Shanghai and Hong Kong. Ma was final seen at a public occasion in October. — Shares of the Chinese language e-commerce big rose greater than 9% after a Stifel analyst upgraded them to purchase from maintain. “ stays one of many main eCommerce platforms in China with quite a few secular progress traits to help wholesome long-term progress and ongoing margin growth,” the analyst mentioned.

China Telecom, China Mobile, China Unicom — Shares of the three Chinese language telecom giants popped after the New York Inventory Change mentioned it no longer plans to delist the shares from their alternate. Shares of China Telecom and China Cellular rose greater than 9% every. Shares of China Unicom rallied greater than 14%.

Diamondback Energy, Exxon Mobil, Chevron — Shares of the oil and power giants rose on Tuesday after U.S. West Texas Intermediate crude futures, the U.S. oil benchmark, broke above $50 for the first time since February. Shares of Diamondback Vitality surged 10%. Exxon Mobil and Chevron rose 5% and three%, respectively.

First Solar — Shares of the photo voltaic firm tanked greater than 9% after Goldman Sachs downgraded the inventory to promote from purchase. The Wall Avenue agency mentioned earnings and income have already peaked for this cycle.

Roku — Shares of Roku gained almost 4% after Wells Fargo hiked its price target on the streaming media firm to a Avenue excessive of $414 from $275. The financial institution mentioned there’s a huge runway for Roku’s progress amid a push into monetizable video-on-demand content material. The brand new worth goal would translate right into a 25% rally within the subsequent 12 months.

Uber — Shares of the experience hailing big popped almost 3% after Needham named Uber a top pick. The Wall Avenue agency mentioned the Covid-19 restoration just isn’t absolutely priced into Uber’s inventory.

Papa John’s International — Shares of the pizza chain gained 2.7% after funding agency Longbow named the stock a top pick. The agency mentioned in a word to purchasers that it’s bullish on new merchandise within the firm’s pipelines and inner enchancment carried out by the comparatively new administration group.

Coca-Cola — The beverage inventory slipped slightly below 1% after Guggenheim downgraded Coca-Cola to impartial from purchase. The funding agency mentioned in a word to purchasers that the corporate goes by way of a “transition” yr and its shares are pretty priced.

— with reporting from CNBC’s Yun Li, Jesse Pound and Pippa Stevens.

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