The largest stock price changes during the day: Alibaba, AeroVironment, Boeing and others.
Check out the companies making headlines in midday trading.
The Chinese government announced its support for the listing of Chinese companies overseas, which led to a surge in shares of Chinese companies listed publicly in the U.S. Alibaba, JD.com, and Pinduoduo all experienced significant gains, with Alibaba jumping 36.7%, JD.com adding 39.4%, and Pinduoduo rallied 56%.
After NBC News reported that the White House was considering providing drones made by AeroVision to the Ukrainian government to help fend off Russian forces, the defense stock increased by 9.8%.
The F-35 fighter jet request from the Pentagon in the new fiscal budget proposal was reported by Bloomberg News, resulting in a 6.1% drop in shares of the defense contractor.
Boeing's stock price increased by 5.1% after Baird included the aerospace company on its list of bullish fresh picks. Despite a decline in the company's stock performance year-to-date, investors should purchase the dip because deliveries of the 737-Max are expected to resume in China, despite the recent increase in Covid-19 cases, analysts stated.
Micron's stock price increased by 9% after Bernstein analysts upgraded the company to outperform, predicting significant profits following the resolution of supply problems later this year.
On Tuesday, FC Barcelona signed a stadium and shirt sponsorship deal with Spotify. The streaming company's stock price increased by more than 6% during midday trading.
After announcing CEO Kevin Johnson's retirement and naming Howard Schultz as interim CEO, Starbucks' shares rose 7.9%. JPMorgan analysts upgraded the company to overweight and predicted its shares could increase by 22% despite recent restrictions in China.
Nvidia's stock price increased by 6.6%, and analysts at Wells Fargo have added the company to their "signature picks" list. They believe that the recent decline in Nvidia's stock presents an attractive risk/reward profile. Additionally, Wells Fargo anticipates positive news at Nvidia's upcoming investor day.
Nike's stock price is expected to maintain its top position in China due to supply chain issues, according to Bernstein, who said so on Tuesday. The sportswear company's stock price spiked 4.9%.
The stock price of NortonLifeLock decreased by 13.3% following news that Britain might launch a thorough investigation into the $8.6 billion acquisition of Avast by the cybersecurity company.
The reporting in the CNBC article was contributed by Hannah Miao, Jesse Pound, and Samantha Subin.
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