The Apple iPhone 12 Pro Max is introduced during the launch of a virtual product.
Daniel Acker | Bloomberg | Getty Images
Check out the companies that own the noon trade.
Apple – Apple shares rose more than 3% after Nikkei reported that technology giant will increase iPhone production by about 30% during the first half of 2021. The report also said that technology giant has shared a preliminary plan with suppliers asking for 20% more iPhones year-round than in 2019, before the pandemic. Apple did not immediately respond to CNBC’s request for comment.
Eli Lilly: The drug maker’s shares gained 3% after the company announced a deal to acquire Prevail Therapeutics in a total cash deal worth about $ 1 billion. Ely Lilly also announced a 15% increase in its dividend. Prevail shares jumped more than 80%.
Bristol-Myers Squibb: Drug maker’s shares rose more than 2.5% after Goldman Sachs added Bristol-Myers to its “List of Convictions.” Goldman analysts said they see the company’s pipeline data driving “upward revisions and multiple expansion.”
Baidu: Baidu shares rallied more than 10% after Reuters reported that the company is considering making its own electric vehicles. The Chinese search engine giant already operates a unit that develops autonomous driving technology and Internet connectivity.
RealReal: RealReal shares rose more than 9% after Piper Sandler launched coverage on the luxury slogan platform with an overweight rating. The Wall Street firm said it is optimistic that the slogan activity will recover as the economy reopens with the deployment of vaccines. Shares have fallen more than 10% this year.
Chewy: Chewy shares rose more than 5% after CFO Mario Marte told the Wall Street Journal that the pet retailer plans to build its online catalog to increase orders. Mars also said the company is working to expand its telehealth service and start earning revenue soon. Chewy shares have risen more than 200% in 2020.
Zynga: Video game shares rose 1.6% after Wells Fargo upgraded Zynga to overweight by the same weight. The investment firm said in a note that November sales following Zynga’s third-quarter earnings report were “excessive”.
Deere: The shares of the agricultural equipment manufacturer rose more than 2% after Oppenheimer started the shares with a higher rating than efficiency. The Wall Street firm said it sees agricultural fundamentals improving.
Marriott International, Hilton – Marriott and Hilton rose 1.3% and 0.5%, respectively, after a Citi analyst upgraded hotel operators to buy neutral, noting that the industry “is at the peak of ‘a multi-year recovery “.
– with reports from Fred Imbert of CNBC, Jesse Pound and Yun Li.