Stocks making the biggest moves noon: Apple, Baidu, Chewy and more

The Apple iPhone 12 Pro Max is unveiled throughout a digital product launch.

Daniel Acker | Bloomberg | Getty Images

Check out the firms making headlines in noon buying and selling.

Apple — Apple shares rose more than 3% after Nikkei reported the tech large will ramp up its iPhone manufacturing by about 30% in the first half of 2021. The report additionally mentioned that the tech large has shared a preliminary plan with suppliers that requires 20% more iPhones for the full yr than in 2019, earlier than the pandemic. Apple didn’t instantly reply to CNBC’s request for remark.

Eli Lilly — Shares of the drug maker gained 3% after the firm introduced a deal to accumulate Prevail Therapeutics in an all-cash deal value roughly $1 billion. Ely Lilly additionally introduced a 15% enhance in its dividend. Shares of Prevail jumped more than 80%.

Bristol-Myers Squibb — Shares of the drug maker popped more than 2.5% after Goldman Sachs added Bristol-Myers to its “Conviction List.” Goldman analysts mentioned they see the firm’s pipeline knowledge driving “upward estimate revisions and multiple expansion.”

Baidu —Shares of Baidu rallied more than 10% after Reuters stories the firm is contemplating making its personal electrical autos. The Chinese search engine large already operates a unit that develops autonomous driving and web connectivity know-how.

RealReal – Shares of RealReal surged more than 9% after Piper Sandler initiated protection on the luxurious consignment platform with an chubby score. The Wall Street agency mentioned it is optimistic that consignment exercise will rebound as the economic system reopens with the vaccine rollout. The inventory is down more than 10% this yr.

Chewy – Shares of Chewy jumped more than 5% after Chief Financial Officer Mario Marte instructed the Wall Street Journal that the pet retailer plans to construct out its on-line catalog to spice up orders. Marte additionally mentioned the firm is working to broaden its telehealth service and start monetize it quickly. Shares of Chewy have soared more than 200% in 2020.

Zynga — The online game inventory added 1.6% after Wells Fargo upgraded Zynga to chubby from equal weight. The funding agency mentioned in a observe that the November sell-off after Zynga’s third-quarter earnings report was “overdone.”

Deere — Shares of the farming gear producer rose more than 2% after Oppenheimer initiated the inventory with an outperform score. The Wall Street agency mentioned it sees agricultural fundamentals enhancing.

Marriott International, Hilton — Marriott and Hilton rose 1.3% and 0.5%, respectively, after a Citi analyst upgraded the lodge operators to purchase from impartial, noting the trade “is on the cusp of a multiyear recovery.”

— with reporting from CNBC’s Fred Imbert, Jesse Pound, Yun Li.

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