Check out the companies making headlines in midday trading Friday.
Apple — Shares of the tech giant gained more than 1%, bringing the company’s market value to more than $3 trillion, a milestone first achieved in January 2022. Citi also slapped a $240 price target on the stock, the highest on Wall Street.
Coinbase — Shares of the crypto services company slid 4% midday, pressured by a dip in the bitcoin price that followed a Wall Street Journal report that the U.S. Securities and Exchange Commission is calling recent bitcoin exchange-traded funds filings inadequate. Coinbase is the crypto custody partner for BlackRock, whose bitcoin ETF filing earlier this month set off a wave of followers and a rally in the price of bitcoin and Coinbase shares.
Pacific Biosciences — The biotech stock popped 5.8% after Goldman Sachs initiated coverage at a buy, noting the company could be at an inflection point with a new sequencing instrument.
SolarEdge — The solar stock rose 3.3% after Bank of America raised its price target to $396 from $379. The new target implies upside of more than 50% from Thursday’s close. The bank also said it has a healthy diversified structural growth story.
Nike — Shares of the sneaker giant fell 2.5% after Nike posted its first earnings miss in three years and reported a decline in margins for its fiscal fourth quarter, which it attributed to higher product input costs, elevated freight and logistics costs, an uptick in promotions and unfavorable currency exchange rates.
— CNBC’s Alex Harring, Tanaya Macheel and Sarah Min contributed reporting.