Check out the companies making headlines in midday trading. Moderna – The drugmaker rose 16% after Oppenheimer upgraded the stock to Outperform. The company said Moderna's multiple product launches over the next 12 to 18 months should help boost revenue in 2025. Moderna fell more than 40% in 2023. Apple – Apple fell 3% in midday trading. Barclays downgraded the tech stock, citing low volumes of iPhone 15s as well as Macs, iPads and wearables. Wynn Resorts, Las Vegas Sands – American casino and resort companies rose as a group on Tuesday. Wynn Resorts rose 4%, while Las Vegas Sands rose 3.7%. Tapestry – Shares of the luxury brand owner rose nearly 4% after JPMorgan added the stock to its Analyst Focus List as a value idea. The Wall Street firm said it sees an “acceleration in earnings growth” from Tapestry. Citigroup – Citigroup shares rose more than 2%. Wells Fargo raised its price target on the bank and said the stock could double in the next three years. Analyst Mike Mayo believes the Federal Reserve's interest rate cuts and the bank's restructuring initiatives can provide a boost to the stock. Carnival, Royal Caribbean – Cruise stocks that outperformed in 2023 fell as a group on the first trading day of 2024. Carnival shares fell 4%, Royal Caribbean Group slipped 6% and Norwegian Cruise Line Holdings fell 6.5%. GoodRx – The telemedicine stock fell about 14% after Bank of America downgraded GoodRx to “underperform” from “buy,” citing increased competition from large pharmacy benefit managers. Li Auto, Nio, XPeng – U.S.-listed shares of Chinese electric vehicle makers slumped after the companies reported their latest delivery figures. Li Auto fell 7% after reporting 50,353 deliveries in December, up 137% from the same period last year. Nio fell 6% after announcing deliveries of more than 18,012 vehicles last month, up about 14% from a year earlier. XPeng fell more than 3% after the company logged 20,115 deliveries last month, up 171% from a year earlier. Baidu, Joyy – Baidu's U.S.-listed shares fell 3%. The Chinese tech giant has halted its acquisition of Joyy's live streaming business in China. Shares of Joyy plunged 14%. ASML – U.S.-listed shares of the Dutch semiconductor company fell 4%. ASML said the Dutch government blocked it from exporting some of its chip-making tools to China. Intel, Advanced Micro Devices – Semiconductor industry stocks fell overall in midday trading. Intel fell more than 4% and Advanced Micro Devices fell more than 5%. Applied Materials and Lam Research fell more than 3%. Rivian Automotive – Electric vehicle inventory fell about 10%. Evercore ISI rated Rivian Automotive “Outperform” and said the company could be the “next Tesla.” Coinbase – Shares of the crypto trading platform fell 5% even after Bitcoin topped $45,000 for the first time since April 2022. —CNBC's Michelle Fox, Yun Li, Pia Singh and Samantha Subin contributed reporting
