Lockheed, JetBlue, CoreWeave, Surgery Partners & more
Check out some of the companies making the biggest moves midday: Lockheed Martin — The prime defense contractor gained 3%. The future is bright following a deal to continue producing F-35 fighter jets for the Defense Department, Morgan Stanley said in an upgrade to overweight from equal weight while raising its 12-month price target to $835 from $690, suggesting 38% upside from Friday’s close. CACI International — The defense contractor surged 6% after Jefferies upgraded CACI to buy from hold and raised its price target to $725, implying nearly 17% upside from Friday’s close. JetBlue Airways —The New York-based airline tumbled 12% following a Wall Street Journal report that senior creditors for JetBlue are working with a restructuring advisor. The company’s bond prices sank late last week, while its stock is down roughly 50% year to date. Verizon Communications — The telecommunications company fell 3% after reporting third-quarter earnings. Xencor — Shares surged 20% to a 52-week high of $30 after the biotech presented positive data on a therapy for certain types of kidney cancer. Xencor said its XmAb819 showed anti-tumor activity in patients with advanced clear cell renal cell carcinoma, and said existing cash reserves are sufficient to fund pipeline research and operations into 2029. Neocloud stocks — Shares of several companies gained after Elon Musk said in a post on X that “200+ neoclouds are going to see guppy-level death.” CoreWeave and Iren rebounded 5%, while Nebius added 1%. Tesla — The electric vehicle maker climbed 6% after Barclays upgraded Tesla to overweight. Analysts at the bank said a merger opportunity with SpaceX, growth in the Robotaxi business and core business strength made them more bullish on the outlook. Range Resources — The natural gas company rose 15% after EQT Corp announced it would buy the company in a deal that values Range Resources at more than $50 billion. Shares of EQT fell 4%. The all-stock deal is expected to close in the first quarter of 2027. Moderna — Shares fell another 2% after a sell-off following the leak of results from a closely followed cancer vaccine study last Thursday continued. The stock tumbled more than 18% over Thursday and Friday last week. Booz Allen Hamilton — The management and defense consultant rallied 8% after an upgrade to buy from hold with a $95 price target at TD Cowen, which cited improved “funded backlog, fed civilian sales and fixed price trends.” Ross Stores — The retailer added 3% after UBS upgraded Ross to buy. Analysts at the bank said growing store productivity will help send the stock above $300. Surgery Partners — Shares surged 47% after Bon Secours Mercy Health agreed to a buyout at $23.50 a share in cash, or $5.7 billion. Fair Isaac — The data analytics company sank 14% after Wells Fargo downgraded Fair Isaac to equal weight from overweight. Analysts justified the downgrade after Fair Isaac said it wouldn’t raise prices to encourage lenders to keep using its FICO score. Maplebear – The parent company of delivery service Instacart fell almost 6%. On Friday, The Information reported that the company has been exploring a sale, including early stage discussions with DoorDash and Uber. — With additional reporting by CNBC’s Deena Zaidi, Davis Giangiulio, Liz Napolitano, Michelle Fox, Paulina Likos and Darla Mercado
