Saturday, September 23, 2023
Homemarket insiderMidday movers: The Gap, Alcoa, Starbucks & More

Midday movers: The Gap, Alcoa, Starbucks & More

Take a look at some of Tuesday's midday movers:

General Electric moved lower. Citi removed the stock from their focus list. Separately, the company announced it had bought a unit from Cameron International for about $550 million.

Dow Chemical gained on news that activist investor Daniel Loeb had taken a large stake in the company.

Blackberry rose after signing a big government contract over the weekend.

Under Armour climbed after news that Notre Dame was switching from Adidas to Under Armour, inking a 10-year deal that will have Under Armour supplying athletic uniforms to the university.

Alcoa hit a nearly 2-and-a-half year high after JPMorgan upgraded the aluminum maker to overweight and hiked its price target to $15 a share.

Starbucks moved lower after Goldman removed it from its conviction buy list, replacing it with Burger King Worldwide, which rose on the news.

Exxon Mobil fell after BofA/Merrill Lynch downgraded the oil producer to neutral from buy while lowering its price target to $106 from $110 a share.

FireEye lost ground after JPMorgan downgraded the cyber security firm to neutral from overweight.

Arch Coal slid after warning of lower-than-expected shipments and production levels in its fourth quarter.

TD Ameritrade Holding rose after it posted better-than-expected fiscal first-quarter earnings.

The Gap gained ground after Sterne Agee upgraded the stock to buy from underperform while raising its price target to $44 from $38 a share. Sterne Agee also downgrading TJX Companies to neutral from buy while cutting its price target to $66 from $68 a share.

Stratasys moved higher after Credit Suisse upgraded the 3D-printer maker to outperform from neutral while increasing its price target to $144 from $128 a share.

YRC Worldwide surged after striking a tentative pact to extend a collective bargaining agreement with the Teamsters.

Cracker Barrel Old Country Store moved lower after it said it will call a special meeting sought by activist investor Sardar Biglari. The activist investor has called on the restaurant chain to pursue all options, including a potential sale.

fell after BofA/Merill Lynch downgraded the stock to underperform from neutral.


—By CNBC's Rich Fisherman.

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