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Tesla, Nuance Communications, Uber and more

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A Tesla logo on a Model S is photographed at a Tesla dealer in New York.

Lucas Jackson | Reuters

Check out the companies that are making headlines in mid-day trading.

Tesla – Tesla shares fell 3.7% after Canaccord Genuity improved to buy the stockciting Tesla’s battery innovations. Canaccord also raised its 12-month price target for Tesla from $ 419 per share to $ 1,071 per share. The new target implies a rally of nearly 60% for the electric car maker.

Nuance Communications – Nuance’s share price rose 16% in midday trading, according to Microsoft announced that it will buy the speech recognition company for $ 56 per share, which is about 23% above where its stock closed on Friday. The deal, another sign that Microsoft is looking to grow through acquisitions, is valued at roughly $ 16 billion and roughly $ 19 billion including debt.

Over – The shares of the hail giant then increased by 3.1% Booking record gross bookings in the month of March. Uber said its mobility segment, or ride-hail business, had its best month since March 2020, with an annualized execution rate of $ 30 billion. That was 9% more than a month ago.

Alibaba – The US-traded shares of the Chinese internet giant rose 9.3%, according to Chinese regulators met the company fined $ 2.8 billion. The fine is around 4% of Alibaba’s 2019 sales. The measure is part of a broader review of internet companies by Chinese regulators.

United Airlines The airline’s shares slumped 3.9% after United Airlines announced it would generate $ 3.2 billion in revenue for the first quarter, down 66% from the year-ago quarter. According to FactSet, Wall Street analysts expected $ 3.35 billion.

Chipotle – The chain restaurant’s share price rose 0.6% after Raymond James updated The share is expected to outperform the market. The Wall Street firm said Chipotle’s sales over the past few weeks of the tour have fully participated in accelerating industry trends, giving stock prices a “significant upward trend”. Jim Cramer from CNBC said the stock is still a buyeven if it hits an all-time high.

Qualcomm – Chip shares fell 2.2% after Evercore ISI downgraded the company in line with the outperformance. Evercore said after Qualcomm’s triple-digit run since the Apple deal, the lion’s share of the 5G smartphone upcycle will be priced into stocks. Qualcomm and Apple settled a license and patent dispute in April 2019.

Plug in the power supply – Morgan Stanley Resumption of reporting of hydrogen fuel cell company as equilibrium, stocks down more than 8% .1. The Wall Street firm said it saw a “modest” share price for Plug Power on the upside.

– with reports from Jesse Pound, Yun Li and Tom Franck of CNBC.

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Robert Dunfee