MU, PARA, MKC and more

Try the businesses making headlines in noon buying and selling Tuesday.

PagSeguro — Shares popped 4.1% on Tuesday after Citi upgraded the Brazilian cost inventory to purchase from impartial. The agency referred to as the corporate’s fourth-quarter earnings unsurprising and stated it’s nonetheless in tough waters, however shares had been extra engaging following latest underperformance. Stone, which was additionally upgraded by Citi to purchase from impartial, edged greater as nicely on Tuesday.

Affirm — The pay-later service misplaced 7.3% after Apple introduced a competing service. Apple shares had been down about 0.9%.

Occidental Petroleum — The power inventory jumped 4.3% on Tuesday after a regulatory submitting confirmed Warren Buffett’s Berkshire Hathaway bought an extra 3.7 million shares for $216 million on Monday and final Thursday. TD Cowen upgraded Occidental to outperform from market carry out following the information.

Micron Expertise — The semiconductor inventory dropped 0.85% forward of its scheduled second-quarter earnings report after the bell on Tuesday. Analysts anticipate income of $3.71 billion and a loss per share of 67 cents, in keeping with FactSet. Micron’s shares have gained greater than 18.5% within the final six months. 

PVH — Shares soared 20% after the attire firm’s fourth-quarter adjusted earnings per share got here in at $2.38, beating estimates of $1.67, per Refinitiv. Its income of $2.49 billion beat expectations of $2.37 billion. PVH’s steerage for the primary quarter and full 12 months additionally surpassed estimates.

Paramount — Shares of the media large gained 3.1% throughout Tuesday’s buying and selling session on a score improve from Financial institution of America from impartial to purchase. The financial institution highlighted Paramount’s robust lineup of property that might assist the enterprise within the occasion it places itself up on the market.

McCormick & Firm — The spice maker’s inventory value jumped 9.6% after reporting better-than-expected earnings for the primary quarter. McCormick reported quarterly earnings of 59 cents per share, whereas analysts surveyed by FactSet anticipated 50 cents per share. 

Alibaba — Shares soared by practically 14.3% after the e-commerce large stated it will break up its firm into six separate enterprise teams, with every group having the potential to lift exterior funding and go public.

Ciena — The expertise firm gained about 4.7% on Tuesday after Raymond James upgraded the inventory to robust purchase from outperform.

Walgreens Boots Alliance — Shares of the pharmacy large rose greater than 2.7% after the corporate reported a rise in its quarterly income regardless of seeing a pointy decline in demand for Covid exams and vaccines. Walgreens posted income of $34.86 billion for the latest quarter, in comparison with analysts’ estimates of $33.53 billion, in keeping with Refinitiv.

Carnival Corp — The cruise operator’s inventory value rose 6.1% on Tuesday after Wells Fargo upgraded Carnival to equal weight from underweight. The agency stated it sees a extra balanced danger/reward for the corporate

— CNBC’s Alex Harring, Yun Li, Jesse Pound and Michelle Fox Theobald contributed reporting.

Correction: Based on FactSet, Micron is predicted to publish a lack of 67 cents per share. A earlier model misstated the estimate.