February 4, 2023

Raven Tribune

Complete News World

Wayfair, Meta, Apple, and more

A Spotify logo is arranged on a smartphone in St. Thomas, US Virgin Islands, on Saturday, January 29, 2022.

Gabe Jones | bloomberg | Getty Images

Check out which companies are making headlines in the midday trading.

Wayfair Shares of the furniture retailer jumped 24.1% Monday after Wayfair received promotions from several Wall Street firms, including a double upgrade to overweight from underweight at JPMorgan. The company announced on Friday that it will lay off about 10% of its global workforce as part of a cost-cutting plan. JPMorgan was killed “Wayfair management’s new commitment to expense control” in its upgrade memorandum.

an Apple Shares of Apple rose 3.2% as China’s reopening gave investors hope it would boost its tech and electronics business. Morgan Stanley called the stock a top pick, saying reopening has “important implications” for demand as well as supply.

meta Meta shares rose 2.4% after that Citi reiterated its buy rating on social media, saying that while the overall view is limited, they believe the market is stabilizing.

Spotify Spotify gain 3.1% After the company sent an internal memo to employees on Monday it announced plans to lay off 6% of its global workforce, or about 600 employees. Spotify CEO Daniel Ek admitted this The streaming giant was “very ambitious to invest ahead of our revenue growth.”

Skechers Skechers stock rose 3.7% after that Quinn upgraded the stock To outperform the market. The company said there are potential positives that Wall Street could overlook.

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sales force Salesforce shares rose 3.9% on news that activist investor Elliott Management had made an investigation Billion dollar investment in the company. The announcement comes just a few weeks after Salesforce announced that it would cut 10% of its staff and close some offices.

Qualcomm Shares of the semiconductor manufacturer rose 6.7% after Barclays upgraded its rating from overweight to equal weight. company Quote Qualcomm features data centers, PCs, and headsets as reasons for its most optimistic rating.

Western Digital Stocks jumped 7% after that Bloomberg reported that merger talks between Western Digital and Kioxia are ahead. The report said Western Digital will separate its express business and merge it with Kioxia into a separately traded company.

Xylem Shares of water technology company Xylem sank 8.2% on news of the company’s takeover Evoqua Water Technologies In an all-share deal valued at approximately $7.5 billion. Evoqua shares jumped more than 14% after the announcement.

Michelle Fox, Alex Haring, Tanaya Machell, Jesse Pound, Carmen Renick, Pia Singh, and Samantha Sobin contributed reporting.