Stocks making the biggest moves noon: Micron, Alibaba, Diamondback Energy and more

Kai Pfaffenbach | Reuters

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

Micron — Micron shares popped more 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 e-commerce big jumped more than 4% after CNBC’s David Faber reported billionaire founder Jack Ma isn’t lacking and he is simply laying low for the time being. 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 e-commerce big rose more than 9% after a Stifel analyst upgraded them to purchase from maintain. “ remains one of the leading eCommerce platforms in China with a number of secular growth trends to support healthy long-term growth and ongoing margin expansion,” the analyst stated.

China Telecom, China Mobile, China Unicom — Shares of the three Chinese telecom giants popped after the New York Stock Exchange stated it now not plans to delist the shares from their change. Shares of China Telecom and China Mobile rose more than 9% every. Shares of China Unicom rallied more than 14%.

Diamondback Energy, Exxon Mobil, Chevron — Shares of the oil and vitality 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 Energy surged 10%. Exxon Mobil and Chevron rose 5% and 3%, respectively.

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

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

Uber — Shares of the trip hailing big popped almost 3% after Needham named Uber a prime decide. The Wall Street agency stated the Covid-19 restoration isn’t totally priced into Uber’s inventory.

Papa John’s International — Shares of the pizza chain gained 2.7% after funding agency Longbow named the inventory a prime decide. The agency stated in a word to shoppers that it’s bullish on new merchandise in the firm’s pipelines and inside enchancment carried out by the comparatively new administration group.

Coca-Cola — The beverage inventory slipped just below 1% after Guggenheim downgraded Coca-Cola to impartial from purchase. The funding agency stated in a word to shoppers that the firm goes by means 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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