Check out the companies making headlines midday Tuesday:
Micron Technology, Nvidia — Chipmakers surged after President Donald Trump tweeted he and Chinese President Xi Jinping would have an “extended meeting ” at the G-20 summit next week. The tweet boosted hopes that the U.S. and China will reach a trade deal in the near future. Micron and Nvidia were each up more than 5%.
Pinterest — Pinterest shares rose 3.4% after Wedbush initiated coverage of the social media company with an outperform rating. Wedbush said it sees Pinterest as “fundamentally different” from other social media platforms because its users more frequently purchase products and services based on their posts on the platform.
Boeing — Boeing shares climbed 5.4% after recording its first orders from the Paris Air Show. International Airlines Group signed a letter of intent to purchase 200 Boeing 737 Max planes, and Korean Air agreed to buy 20 787 Dreamliners from the airplane maker for $6.3 billion.
Twilio — Twilio rose 1.1% after an analyst at Needham initiated the cloud communications platform provider as a buy. The analyst foresees Twilio’s continued exceptional growth moving forward.
Telephone and Data Systems — Shares of the telecom company surged more than 14.7% after Morgan Stanley upgraded the stock to overweight from equal-weight, citing a compelling valuation relative to its peers.
Las Vegas Sands — The casino operator’s stock rose 5.7% after multiple reports said a stalemate between New York legislators will prevent legislation to legalize mobile sports gambling from passing.
GCP Applied Technologies — Shares of the chemicals company dropped more than 13% after GCP board members said the company’s strategic alternatives review did not produce a “transaction that would provide adequate value to our shareholders.”
G1 Therapeutics — G1 Therapeutics surged 24% after announcing positive trial results for its breast-cancer treatment drug, Trilaciclib. The drug led to a “statistically significant improvement” in the overall survival of women with metastatic triple-negative breast cancer, the company said.
Bank of America — Bank of America shares rose 2.5% after BMO Capital Markets upgraded the bank to outperform from market perform, saying it is undervalued and consensus estimates are too low.
