Delta Airlines Embraer ERJ 170-200 flying over Los Angeles International Airport on October 2, 2022 in Los Angeles, California.
AaronP/Bauer-Griffin | Gc Images | Getty Images
Check out the companies that make the biggest moves at noon:
SoFi technologies — Fintech shares jumped 6.09% after a filing showed CEO Anthony Noto bought $5 million worth of common stock. The purchase was made through multiple negotiations from Friday to Tuesday, the document said.
Letter of Communications — Charter Communications fell 16.38% after CEO Chris Winfrey told an investor event the company will invest $5.5 billion over three years to upgrade its high-speed internet network.
tesla – Shares of the electric vehicle maker fell 2.58% after analysts’ calls on the stock’s 2023 performance. Goldman Sachs cut its price target, reiterating the stock as a Buy. Morgan Stanley said it was the top automatic pick for 2023.
power plug — Shares of Plug Power rose 7.80% after UBS began hedging the stock with a Buy rating and a price target that implies the stock could gain more than 80%. UBS said investors are underestimating the hydrogen fuel cell maker’s growth potential.
Delta Airlines — The airline’s shares rose 2.79% after the company said the travel boom is not over and it expects 2023 earnings to nearly double as a result. Delta predicts a revenue jump of between 15% and 20% in 2023.
Caesars Entertainment🇧🇷 Penn Entertainment – Caesars shares fell 5.44% and Penn lost 4.37% after casino operators were downgraded by Bank of America to buy neutral. BofA said it was concerned about games speed flattening.
Modern — Shares in Moderna were up 5.78% after Tuesday’s 19.6% gain. The changes came after a successful study of a skin cancer treatment involving an experimental vaccine from Moderna in combination with Keytruda, Merck’s cancer drug.
SolarEdge — The solar energy company gained 2.43% after being upgraded to equal weight overweight by Barclays. The company cited the company’s “pivot” towards Europe in its decision, saying it feels more confident that macro dynamics in Europe will support SolarEdge’s growth and ability to capture market share in the near term.
Best buy — The electronics retailer fell 3.87% after Bank of America downgraded the stock to underperforming neutral, noting a challenging environment.
RingCentral — RingCentral shares rose 7.42% after being updated by Morgan Stanley to an equal weight overweight. In its call, Morgan Stanley said the software company is underrated.
albemarle — Albemarle was down 5.36% in midday trade. On Tuesday, the lithium supplier said it will invest at least $180 million to establish a technology park in North Carolina.
Aspen Group — Shares of the online education company initially rose more than 26% after Aspen posted better-than-expected quarterly revenue and better profit margins. However, it reported a larger-than-expected quarterly EPS loss. The shares reversed course during the afternoon and closed down 22.24%.
ABM Industries – ABM fell 3.07% after giving a fiscal 2023 outlook that fell short of consensus estimates. However, the facility services provider reported better-than-expected earnings and revenue for the fiscal fourth quarter.
datadog — Shares of Datadog rose 0.97% after Oppenheimer upgraded software stock to outperform, saying the “mission-critical nature of its solutions gives Datadog relative resilience in times of spending constraints.”
— CNBC’s Yun Li, Alex Harring, Samantha Subin, Sarah Min, and Tanaya Macheel contributed reporting.
Correction: An earlier version distorted the name of the CEO of Charter Communications.
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