Tesla, Nuance Communications, Uber and more

Consult the companies that make securities in the trading of lunch.

Tesla – Tesla shares rose nearly 3% after Canaccord Genuity updated the stock to buy, citing Tesla’s battery innovations. Canaccord also raised its 12-month price target for Tesla to $ 1,071 per share from $ 419 per share. The new target involves a rally of almost 60% for the electric car manufacturer.

Nuance Communications – The share price of Nuance rose more than 16% at noon trading after Microsoft announced it would buy speech recognition company $ 56 a share, about 23% higher than its share closed on Friday. The deal, another sign that Microsoft wants to grow through acquisitions, is valued at about $ 16 billion and about $ 19 billion, including debt.

Uber – Travel giant shares rose 3.3% after recording record gross bookings in March. Uber said its mobility segment, or ride business, had the best month of March 2020, with an annual running rate of $ 30 billion. It increased by 9% compared to a month earlier.

Alibaba – The US-listed shares of the Chinese internet giant have risen by more than 9% after Chinese regulators fined the company $ 2.8 billion. The fine amounts to about 4% of Alibaba’s revenue in 2019. The action is part of a wider control of internet companies by Chinese regulators.

United Airlines – Airline shares fell 4% after United Airlines announced it expected to report $ 3.2 billion in first-quarter revenue, down 66% from the same quarter in 2019. According to FactSet, analysts on Wall Street they expected $ 3.35 billion.

Chipotle – The chain restaurant’s stock price rose more than 1% after Raymond James updated the stock to outperform the market. The Wall Street firm said Chipotle’s sales were fully involved in consolidating industry trends in the last weeks of the tour, adding that there was a “significant increase” in stock prices. Jim Cramer of CNBC said the stock is still a buy, albeit at a record high.

Qualcomm – chip stock fell 1.6% after Evercore ISI downgraded the company to align with performance. Evercore said, after Qualcomm’s three-digit run since Apple’s settlement, most of the upphone cycle for the 5G smartphone is listed in shares. Qualcomm and Apple settled a royalty and patent dispute in April 2019.

Plug Power – Morgan Stanley resumed covering the company with hydrogen fuel cells as an equal share, sending shares down more than 8% in lunch trading. The Wall Street firm said it sees a “modest” share price increase for Plug Power.

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