Apple WWDC 2023 logo displayed on smartphone screen.
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Take a look at the companies making headlines in midday trading Friday.
apple — Shares of the tech giant rose more than 1%, pushing the company’s market capitalization above $3 trillion, a milestone first achieved in January 2022. Citigroup also set a $240 price target on the stock, the highest on Wall Street.
Coinbase – Shares of the crypto services company fell 4% midday, pressured by a drop in bitcoin prices after The Wall Street Journal reported that the SEC said a recent bitcoin ETF filing was inadequate. Coinbase is BlackRock’s crypto custody partner, and the firm’s filing for a bitcoin ETF earlier this month sparked a wave of followers and a rally in both bitcoin and Coinbase shares.
Pacific Biosciences — The stock rose 5.8% after Goldman Sachs started buying the stock, noting that the company may be at an inflection point for new sequencing instruments.
solar edge — The solar stock rose 3.3% after Bank of America raised its price target to $396 from $379. The new target implies an upside of more than 50% from Thursday’s closing price. The bank also said it has a healthy diversified structural growth story.
Bright Health Group — Shares rose 2.6 percent in midday trading After the health insurer announced the deal Sold its Medicare Advantage business to Molina Healthcare for approximately $600 million.
nike — Nike missed profit for the first time in three years and reported lower profit margins in the fiscal fourth quarter, which was attributed to higher product input costs, higher freight and logistics costs and increased promotional activities. The sneaker giant shares fell 2.5% and Unfavorable currency exchange rates.
meta platform — Social media shares follow UK shares up 2.1% Competition and Markets Authority Closes investigation into company’s sale of Giphy Shutterstock.
Xpeng — Shares of the Chinese electric carmaker soared more than 12% after the launch of the G6 SUV, with Xpeng pricing competitively Tesla’s The popular Model Y
carnival — Cruise stock rose more than 8% after Jefferies upgraded it to buy from hold, citing a leadership change and improving outlook.
— CNBC’s Alex Harring, Tanaya Macheel and Sarah Min contributed reporting
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