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Check out the companies making headlines in afternoon trading. Carrier Global – Shares rose 4.6% after Carrier agreed to sell its Global Access Solutions business to Honeywell for $4.95 million in cash. Honeywell’s stock fell 1% on this news. Synaptics – The computer touchpad maker rose more than 4.5% after JPMorgan started the stock at Overweight. As a catalyst, the firm cited the company’s best-in-class Wi-Fi and Bluetooth combination technology, which it said Synaptics is leveraging to gain further market share. JPMorgan’s December 2024 price target of $130 represents an upside of 31%. First Solar – Shares of the solar company rose 4.3% after Morgan Stanley upgraded it from equal weight to overweight. The firm pointed to several factors, including falling interest rates and earnings growth, that could give the stock a significant boost next year. Morgan Stanley also raised its price target on the stock to $237. Lululemon – Shares jumped more than 4% as traders assessed the company’s latest quarterly data. The company’s earnings in the third quarter were better than expected. Lululemon, however, gave a softer outlook for the holiday season. Qorvo – The stock rose nearly 4% after Morgan Stanley upgraded the wireless company to an overweight rating from equal weight. “Momentum from the China Android snapback and material gains from the 5G transition should drive revenue growth and gross margin expansion,” wrote analyst Joseph Moore, who also cited cheap valuations and strong earnings power as additional catalysts. SLM – Sallie Mae gained 3% after an upgrade from equal weight to overweight from Wells Fargo. The company sees upcoming opportunities for Sallie Mae to grow its market share, and also believes the company will be relatively protected in the event of a recession due to its high credit quality portfolio and strong growth in student lending. Cushman & Wakefield – Shares rose 2.6% after Wolfe Research upgraded the real estate company to outperform peer performance, calling it the “ultimate bargain.” [commercial real estate] Services Stock.” Equifax – Shares of the credit reporting agency rose nearly 2% after an upgrade from hold to buy at Deutsche Bank. The firm cited a mortgage rate recovery as a catalyst. Wix.com – Restocked The stock rose 1% after Bank of America received a buyout. The bank cited its artificial intelligence strategy as well as the company’s underappreciated margins as reasons for the upgrade. RH – Shares of the company got the first restock. Hardware, as it was known, fell 14% after its third-quarter report missed expectations. It reported $751 million in revenue, according to RH LSEG, formerly known as Refinitiv, which was followed by analysts. That’s less than the expected $757 million. The company also lowered its full-year revenue guidance range and said it was seeing heavy promotions in the home goods market. HashiCorp – Shares of K were downgraded from Market Perform to Outperform by TD Cowen. The software company declined more than 18% after the company’s earnings release. Analyst Derrick Wood cut his price target from $28 to $23, indicating a downside of 8%. Wood thinks the company will continue to be harmed by macro headwinds that show no signs of abating, while growth visibility will also remain highly constrained in the near term. Paramount – Paramount shares were up more than 12% after multiple reports said Skydance and RedBird Capital were acquiring National Amusements, which owns the majority of the media giant’s voting shares. — CNBC’s Michelle Fox, Fred Imbert, Hakyung Kim, Jesse Pound and Piya Singh contributed reporting.
