A man walks past a Logitech logo panel at the Swiss Federal Institute of Technology Lausanne campus in Lausanne, Switzerland, November 27, 2019.

Fabrice Coffrini | AFP | Getty Images

Take a look at the companies making the headlines in midday trading.

Logitech — Shares fell 11.1% after the company announced President and CEO Bracken Darrell is leaving. Citi downgraded the stock to neutral from buy following the announcement.

UnitedHealth — UnitedHealth fell 6.4% after CFO John Franklin Rex said more seniors are getting medical procedures they put off during the Covid-19 pandemic, according to a FactSet transcript of a presentation made Tuesday at Goldman’s annual global health conference Sachs. It’s a trend that means rising costs for health insurers. Other insurance companies also fell, e.g Humanawhich fell by 13%.

Toyota — Shares of the Japanese automaker gained 4.7% on Wednesday. shareholders re-elected chairman Akio Toyoda in supporting the company’s management and new electric vehicle strategy. Toyota he announced will unveil a range of battery electric vehicles with “next generation” batteries earlier this week.

Lumen Technologies — Telecom stocks rose 6.1% in midday trading Wednesday, adding to Tuesday’s 16% gain. On Monday, Lumen announced a new networking ecosystem called ExaSwitch, which was created in collaboration with Google and Microsoft.

Maxeon Solar Technologies — Solar shares gained 0.1%. Roth MKM upgraded the stock from buy to hold, noting strong demand and future potential for margin expansion. Earlier in the week, the company announced a new partnership with ev.energy for software charging of electric vehicles.

Advanced Micro Devices — Chip shares rose nearly 2.3% in midday trading, a day after the company reported earnings the latest artificial intelligence chips. On Wednesday, Reuters also reported that Amazon Web Services is is considering using AMD’s AI chips. Several analysts were bullish, with Goldman Sachs raising its price target on AMD to $137 from $97 on Wednesday, suggesting 10% upside from Tuesday’s close.

Anheuser-Busch InBev — Shares rose 1.9% after Bernstein reiterated its outperform rating. Bud Light’s parent has been in trouble recently as its decision to partner with a transgender influencer drew conservative ire.

IPG Photonics — The laser company jumped 13.5% after Raymond James upgraded the stock to outperform. Raymond James said the company is undervalued, specifically pointing to opportunities in electric vehicles.

Dave & Buster’s — Shares fell 5.8% after the company’s investor day. The selloff comes despite Raymond James reiterates its strong buy rating after updating the company. However, the firm noted that some investors may take a “wait and see” approach to stocks given the potential for the health of the broader economy to affect discretionary spending.

Cinemark — The film’s stock fell 6.3% on a downgrade to neutral from B. Riley’s buy. The firm cited its shaky film slate, noting that the stock should have a longer-term opportunity to benefit from improving domestic box office and growth in Latin America.

Li Car — The Chinese electric vehicle maker jumped 7.3% after Morgan Stanley added a positive catalyst watch on the stock, pointing to strong recent weekly shipments data and potential for a recovery in the sector.

Netflix — The streaming giant rose 1.2% on two analyst calls. Wolfe Research reiterated the stock’s outperform, with the firm saying it was bullish on the crackdown on password sharing. Although Barclays reiterated its same rating, it raised its price target on the stock to $375 from $250.

DoorDash — Shares of the food delivery company fell 2.3% after Gordon Haskett downgraded the stock to hold from buy. The company said DoorDash’s current risk-reward profile is no longer sufficient to drive a favorable stock price reaction.

Deckers Outdoor — Shares of the outdoor apparel company jumped 3.3% to hit a 52-week high after Raymond James initiated outperform coverage on the stock. The Wall Street firm said it likes its broad range of products, particularly the Hoka brand, which it believes has strong momentum and is poised for long-term global growth.

Shift4 Payments — Shares advanced 0.8% after an upgrade from SVB Securities to outperform the market. SVB said the digital payments software name should see volume increase.

SoFi — SoFi gained 2.1% after BTIG called the stock the best in fintech. The firm said the stock could rally more than 45% as student loan payments resume.

Estee Lauder — Shares of the beauty stock rose 4.1% after an upgrade to buy from Berenberg. The company called the stock an attractive buying opportunity.

— CNBC’s Michelle Fox, Yun Li, Sarah Min and Hakyung Kim contributed reporting.

Source Link