The Spotify app on an iPhone.
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Intuitive Surgical – Shares in Intuitive Surgical rose 3.5% after Piper Sandler on Monday upgraded the medical stock to overweight from neutral. The company said that “the recent withdrawal offers investors an attractive entry into a leading medtech name.”
Align Technology – Shares in the dental firm rose more than 7% at midday trading after Morgan Stanley began covering Align Technology as overweight. “ALGN is well positioned in the fastest growing segment of the dental market with its leading position in clear aligners,” the company said. The bank gave the stock a price target of $ 575 per share. shares.
Kellogg – Shares in the food business ticked 2.8% down in the dinner trade after BMO downgraded Kellogg to market performance from surpassing. The Wall Street firm said it sees grain “challenges” ahead.
Enphase Energy – Enphase Energy shares rose 10% after the company, which manufactures microinverters and backup energy storage for solar systems, announced an expansion of battery storage in Massachusetts.
Citrix Systems – Citrix shares fell 3.7% after reports that the cloud computing company will be taken private in a cash deal worth $ 16.5 billion, including debt. Vista Equity Partners and a subsidiary of Elliott Management are buying Citrix for $ 104 a share, according to The Wall Street Journal.
BlackBerry – BlackBerry shares rose 4.7% after communications software company announced a $ 600 million deal to sell its older patents. Non-core patent assets include mobile devices, messaging and wireless networking. Catapult, a special purpose vehicle, was formed to acquire the BlackBerry patents.
Otis Worldwide – The elevator company’s shares rose more than 2% after Otis reported 72 cents in earnings per share. share for the fourth quarter, four cents ahead of estimates according to Refinitiv. The company missed revenue estimates, but said it expected sales and operating margins to grow by 2022.
Walgreens – Walgreens shares fell about 2% after Bloomberg reported that the company has started the sales process for its Boots international pharmacy unit. Additional buyout companies, such as Sycamore Partners, are reportedly considering bids.
– CNBC’s Yun Li, Tanaya Macheel, Margaret Fitzgerald and Jesse Pound contributed reporting