Tesla, Southwest, Apple, AMC and more

A sign hangs in front of an AMC theater on January 27, 2021 in Chicago, Illinois. Shares of AMC Entertainment more than quadrupled today as investors continued their buying spree on heavily shorted stocks.

Scott Olson | Getty Images

Find out which companies are making headlines in the midday business.

You’re here – The electric vehicle fleet increased by more than 3% after the sale in ten of the last 11 trading sessions. Baird also cut its price target on the stock to $252 from $316 per share.

South West Airlines – The airline’s shares fell 2.5% as it continues to have a reduced schedule. South West canceled 60% of its flights scheduled for Wednesdaywhile rival airlines capped fares in a bid to help stranded travellers.

AMC Entertainment – AMC Entertainment shares fell about 3% a day after CEO Adam Aron tweeted that he asked the company’s board to freeze his 2023 salary and urged other executives to forgo pay raises.

Generac — The equipment manufacturer gained 5% following the purchase initiation of Janney Montgomery Scott. The firm gave the stock a price target of $160, implying a 75.5% upside from its Tuesday close.

Nio — Shares of the electric car maker fell 2%. It builds on Tuesday’s 8% drop, which came after the announcement Q4 production cuts due to Covid outbreaks.

Energy stocks – A list of energy companies slid as oil and natural gas prices fell. EQT fell by more than 6%, PAA lose 3.6% and Coterra lost 3.5%. These three names were among the biggest losers in the S&P 500 at noon.

Maxeon – Shares fell 8% after the solar company announced that Bill Mulligan would be the new CEO. He was previously director of operations at Sila Nanotechnologies.

Apple — Shares of the tech giant slid 1.5%. The stock has fallen over the past three days, hitting a new 52-week low on Wednesday.

IDEAYA Biosciences — IDEAYA gained almost 5% following an overweight initiation in Capital One Securities. The company gave the stock a price target of $29, which is up 75.4% from its Tuesday close.

Kala Pharmaceuticals — The biopharmaceutical company jumped more than 200% following the Food and Drug Administration Acceptance an investigational new drug application for its potential treatment of persistent corneal epithelial abnormality.

– CNBC’s Samantha Subin, Tanaya Macheel and Sarah Min contributed reporting

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