Stocks making the biggest moves midday: Walgreens, Tesla, Qualcomm

Stocks making the biggest moves midday: Walgreens, Tesla, Qualcomm

Walgreens is testing a health-focused concept at a store in Deerfield, Illinois.

CNBC

Check out the companies making headlines midday:

Walgreens Boots Alliance — Walgreens shares jumped more than 6% after a report from Bloomberg said KKR approached the pharmacy and food chain for a leveraged buyout. If completed, the deal would be the biggest leveraged buyout in history.

Tesla — Shares of the electric car maker climbed more than 2% after an analyst at Jefferies raised his price target on the stock to $400 from $300. The analyst expects Tesla to maintain “its edge in product, affordability and technology.” The new price target represents an 18.6% upside from Friday’s close of $337.14.

Cisco Systems —The semiconductor builder’s stock dropped 1.2% after an analyst at Piper Jaffray downgraded it to neutral from overweight. “Our downgrade centers on a slowing macro-environment across Enterprise and Service Provider, as well as cycles hitting a peak earlier this year,” the analyst said in a note.

Qualcomm — An analyst at Morgan Stanley downgraded Qualcomm to equal weight from overweight, citing a “closed” valuation gap between the chipmaker and its competitors. The stock fell 2.3%.

Nektar Therapeutics — Shares of the pharmaceutical company rose 3.2% on the back of positive clinical trial data for NKTR-358, a drug that aims to treat autoimmune and inflammatory diseases.

Wynn Resorts — Shares of Wynn Resorts dropped 4% after Jefferies said it expects Macau gaming revenue to decline about 8% in November. The bank said it would be the sharpest drop in 2019 due to the weakness in the VIP market.

Tupperware Brands — Shares of Tupperware Brands dropped more than 2% after the company suspended its quarterly dividend. The company said in a release that management is working to “improve financial flexibility and drive profitability in the short term.”

Boeing — Boeing shares jumped to trade 2% higher on news the airplane maker expects deliveries of its 737 Max jet to resume next month

—CNBC’s Yun Li and Michael Bloom contributed to this report.

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