Check out the companies making headlines in midday trading. Carrier Global – Shares rose 3.7% after Carrier agreed to sell its Global Access Solutions business to Honeywell for $4.95 million in cash. Honeywell shares fell 1% on the news. Synaptics – The computer touchpad maker rose more than 4.8% after JPMorgan gave the stock an overweight rating. The company cited the company’s best-in-class Wi-Fi and Bluetooth combination technology as a catalyst, which Synaptics says it is leveraging to further gain market share. JPMorgan’s December 2024 price target of $130 implies an upside of 31%. First Solar – Shares of the solar company rose more than 4% after Morgan Stanley upgraded the stock to overweight from equal weight, but ultimately ended the day down 0.4%. The company pointed to several drivers, including falling interest rates and earnings growth, that could boost the stock significantly next year. Morgan Stanley also raised its price target on the stock to $237. Lululemon – Shares rose more than 5% as traders assessed the company’s latest quarterly results. The company posted better-than-expected profit in the third quarter. However, Lululemon gave a lukewarm outlook for the holiday season. Qorvo – Shares rose nearly 4% after Morgan Stanley upgraded the wireless company to overweight from equal weight. “The momentum from the return to Android in China and content gains from the 5G transition should drive revenue growth and expand gross margins,” wrote analyst Joseph Moore, who also cited cheap valuation and strong earnings power as additional catalysts. SLM – Sallie Mae rose 4% after being upgraded to Overweight from Equal Weight by Wells Fargo. The company sees opportunities for Sallie Mae to expand its market share and also believes that the company will be comparatively better prepared in the event of a recession due to its high credit quality portfolio and strong growth in student loan originations. Cushman & Wakefield – Shares rose 1.7% after Wolfe Research upgraded the real estate company to “outperform” compared to its peers and called it the “last good value company.” [commercial real estate] Services Stock.” Equifax – Shares of the credit reporting agency rose nearly 2% after Deutsche Bank was upgraded to “buy” from “hold.” The company cited a recovery in mortgage rates as a catalyst. Wix.com – The stock rose 1% after resuming as a buy on Bank of America. The bank cited the company’s underestimated margins alongside its artificial intelligence strategy as reasons for the upgrade. RH – Shares of the company formerly known as Restoration Hardware fell 14% after its third-quarter report fell short of expectations. RH reported revenue of $751 million, below analysts’ expectations of $757 million, according to LSEG, formerly known as Refinitiv. The company also cut its full-year sales forecast, saying the home furnishings market is experiencing strong promotions. HashiCorp – Shares of the software company fell 18% after TD Cowen downgraded it to market perform from outperform. Analyst Derrick Wood lowered his price target to $23 from $28, implying a downside potential of 8%. Wood expects the company to continue to suffer from macroeconomic headwinds that show no signs of abating, while growth prospects will remain severely constrained in the near term. Paramount – Shares of Paramount rose more than 14% after multiple reports said Skydance and RedBird Capital were seeking a takeover of National Amusements, which owns a majority of the media giant’s voting shares. — CNBC’s Michelle Fox, Fred Imbert, Hakyung Kim, Jesse Pound and Pia Singh contributed reporting.
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