Micron, Paramount, McCormick, And Other Stocks Making Big Moves Midday

‍PagSeguro

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It is worth noting that the Brazilian payment stock rose by 5.3% after Citi upgraded it to a buy rating from neutral. After recent underperformance, the firm said its fourth-quarter results aren't surprising and that the company still faces rough waters ahead despite the fact its shares are more attractive following recent underperformance since the start of this year. Citi upgraded Stone, a company owned by Nikkei, to a buy rating from a neutral rating, as well on Tuesday.

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Affirm

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As a result of Apple's announcement of a competing service within its pay-later category, the service dropped by 6.9%. This resulted in a drop of about 0.9% in Apple's shares.

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Occidental Petroleum

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On Monday and late last Thursday, Warren Buffett's Berkshire Hathaway, the company run by Warren Buffett, purchased an additional 3.7 million shares of the energy company for $216 million. Therefore, the stock has risen nearly 4% since the filing was made. Following the news of Occidental's upgrade from market performance to outperform, TD Cowen, upgraded the stock to outperform.

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Micron Technology

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A couple of days before the semiconductor company's scheduled update on second-quarter earnings after the bell on Tuesday, the stock of the company was down 2.8%. According to FactSet, analysts expect revenue to be $3.71 billion and earnings-per-share to be $0.67 per share in the second quarter. It has been more than six months since Micron's share price has increased by 14%. 

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PVH

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A stock price leap of 18.9% was recorded in the apparel company's shares after its adjusted earnings per share for the fourth quarter were revised to $2.38, which exceeded an estimate of $1.67, according to Refinitiv. In comparison with expectations of $2.37 billion, it surpassed expectations with revenues of $2.49 billion. It is also worth noting that PVH's forecasts for the first quarter and the full year have also exceeded expectations.

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Paramount

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In midday trading, shares of the media giant gained 3.6% as Bank of America upgraded its rating for the company from neutral to buy during a rating update. A banker highlighted the strong portfolio of assets Paramount has that could be beneficial to the business if it decides to put itself on the market in the near future.

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McCormick & Company

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As a result of a better-than-expected first-quarter earnings report from the spice manufacturer, its stock price jumped by about 10% during midday trading on Thursday. There were $0.59 earnings per share reported by McCormick for its third quarter, whereas FactSet expects $0.50 earnings per share. 

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Alibaba

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It is reported that shares of the e-commerce company surged by 12% after the company announced last week that it would separate into six separate business units, with each group being capable of raising outside capital and going public in the future.

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Ciena

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As a result, Raymond James upgraded the stock from outperform to strong buy on Tuesday, resulting in a 4.9% increase for the technology company.

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Walgreens Boots Alliance

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In an update to its shareholders this morning, the pharmacy giant announced an increase in its quarterly revenue of more than 3% for the first quarter despite a sharp decline in demand for Covid tests and vaccinations as compared with the previous quarter. It has been reported that Walgreens' revenue for the most recent quarter was $34.86 billion, compared to an analyst consensus estimate of $33.53 billion based on Refinitiv data.

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Carnival Corp

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As a result of Wells Fargo upgraded the stock of the cruise operator on Tuesday from underweight to equal weight, Carnival stock gained more than 5.9% on Tuesday. The firm said that it believed the company was now in a better position to handle both risks and rewards