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☆ Sanofi loses $21 billion in market value after dropping 2025 profit target
▼ + stars: | 2023-10-27 | by ( ) www.cnbc.com time to read: +2 min

Chesnot | Getty ImagesSanofi stock plunged on Friday, wiping 20 billion euros ($21 billion) off its market value, after it abandoned its 2025 profit target under a plan to list its consumer healthcare business to focus on its core innovative drugs business. Under a push to spend more on immunology and inflammation drug development, the company abandoned a target for a 32% operating profit margin for 2025 to focus on "long-term profitability." Sanofi shares trade at a 12 month forward price-to-earnings ratio of 11, a discount to AstraZeneca's 16 and global pharma index of 17, according to LSEG data. Bayer, led by a new CEO since June, has faced calls by several investors to split off its consumer business. EPS would see a strong rebound in 2025 but not enough to sustain the previous margin target.

Persons: Sanofi, drugmaker, Paul Hudson, Terence McManus, Kenvue, Johnson, Bayer Organizations: Chesnot, Getty, Sanofi, Bellevue Asset Management, Reuters, Barclays, Johnson, GSK, Pfizer Locations: Gentilly, Paris, France, Bellevue

☆ Kenvue CEO Thibaut Mongon: We feel very good about the strength of our business model
▼ + stars: | 2023-10-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKenvue CEO Thibaut Mongon: We feel very good about the strength of our business modelKenvue CEO Thibaut Mongon joins ‘Squawk on the Street’ to discuss the company's latest quarter, their new products in the market, and more.

Persons: Thibaut Mongon, Squawk

☆ 3 things to watch in the stock market next week as bond yields hover at 2007 highs
▼ + stars: | 2023-10-21 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +12 min

The usual suspects were to blame — rising bond yields, geopolitical tensions, and oil prices — and will hold the keys to the market this coming week. Earnings are one of the three major themes on the marquee next week, with 10 Club companies reporting. Here are the companies: Danaher (DHR), Microsoft (MSFT), Alphabet (GOOGL), Meta Platforms (META), Veralto (VLTO), Honeywell (HON), Linde (LIN), Amazon (AMZN), Ford (F) and Stanley Black & Decker (SWK). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: —, Jerome Powell, Jim Cramer, Jim, Morgan Stanley, Stanley Black, Decker, Danaher, Veralto, it's, Mark Zuckerberg, We're, Vimal Kapur, Linde, Jim Farley, Ford, FactSet, Powell, WTI, Baker Hughes, Edwards Lifesciences, Northrop, CARR, Davidson, Dr Pepper, Phillips, Jim Cramer's, Michael M Organizations: Dow Jones, Nasdaq, Economic, of New, Treasury, West Texas, Procter, Gamble, 10, Microsoft, Honeywell, Linde, LIN, Health Care, Technology, Communications Services, Google, Meta, Ford, Amazon, United Auto Workers, Atlanta, Wall Street, Hamas, Brent, Strategic Petroleum Reserve, Logitech, Verizon, General Electric, GE, RTX Corporation, Halliburton, HAL, General Motors, Dow Chemical, DOW, Xerox, Texas Instruments, F5 Networks, WM, Boeing, Fisher, Mobile, Hilton, General Dynamics, Norfolk Southern, Otis Worldwide, IBM, KLA, O'Reilly Automotive, Mattel, Whirlpool, Gross, Royal Caribbean Cruises, Hershey Company, United Parcel Service, Southwest Airlines, Altria, Northrop Grumman, Valero Energy Corp, Mastercard, Merck, Co, Myers Squibb, Newmont, Tractor Supply Company, Comcast, Seagate Technology, Boston, Hertz, Carrier, Hasbro, Harley, Intel, Grill, United States Steel, Boston Beer Company, Texas, University of Michigan, Exxon Mobil, Chevron, Charter Communications, Colgate, Palmolive, Newell Brands, Sanofi, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: of New York, U.S, Industrials, OpenAI, America, Venezuela, Cleveland, Norfolk, ORLY, Bristol, Brunswick, Oshkosh, New York City

☆ Kenvue is one of few IPOs trading cheap relative to long-term value: Lido Advisors' Gina Sanchez
▼ + stars: | 2023-10-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKenvue is one of few IPOs trading cheap relative to long-term value: Lido Advisors' Gina SanchezGina Sanchez, Lido Advisors chief market strategist, joins 'The Exchange' to discuss IPOs performing below their debut prices, defensive IPO names to buy, and what names consumers will be willing to pay for in a slowing environment.

Persons: Gina Sanchez Gina Sanchez Organizations: Lido Advisors

☆ CVS to pull certain cold medicines containing decongestant phenylephrine from store shelves
▼ + stars: | 2023-10-19 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

CVS is removing some of the most common cough and cold medicines from its store shelves and will no longer sell them, a company spokesperson told CNBC on Thursday. However, CVS is voluntarily removing certain cough and cold medicines that contain phenylephrine as the only active ingredient from stores. They added that CVS stores will continue to offer other oral cough and cold products to meet patient needs. Oral products that list phenylephrine as its only active ingredient include Sudafed PE, which is marketed by Johnson & Johnson's consumer health spinoff Kenvue . Pulling oral phenylephrine from the market entirely could affect CVS and other retail pharmacy chains, which rake in revenue from selling over-the-counter cold and allergy pills.

Persons: Johnson, Kenvue Organizations: CNBC, Food and Drug Administration, FDA, CVS, Street Journal Locations: U.S

The logo of Johnson & Johnson is seen on a Brussels' office of the company in Diegem, Belgium September 21, 2023. Investors are focused on how J&J, now a standalone pharmaceutical and medical devices company, will reach its goal of $57 billion in drug sales by 2025. Johnson & Johnson recorded a $21-billion gain in the third quarter from the spin-off of its consumer health unit. Stelara, J&J's top-selling anti-inflammatory drug, brought in sales of $2.86 billion in the quarter, above LSEG estimates of $2.61 billion. Excluding its consumer health unit, J&J now expects 2023 adjusted profit of $10.07 to $10.13 per share, compared with its previous outlook of $10.00 to $10.10 per share.

Persons: Johnson, Yves Herman, MedTech, Cantor Fitzgerald, Louise Chen, Stelara, Joseph Wolk, Wolk, J, Bhanvi Satija, Sriparna Roy, Patrick Wingrove, Shounak Dasgupta Organizations: Johnson, REUTERS, Innovative Medicine, Reuters, Thomson, & $, & $ Locations: Brussels, Diegem, Belgium, Stelara, U.S, United States, Bengaluru, New York

☆ Johnson & Johnson beats on earnings and hikes outlook as medtech, pharmaceutical sales surge
▼ + stars: | 2023-10-17 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Johnson & Johnson on Tuesday reported adjusted earnings and revenue that topped Wall Street's expectations, and lifted its full-year guidance as sales in the company's pharmaceutical and medical devices businesses surged. Upon that split, J&J lowered its full-year sales and profit guidance. J&J also expects adjusted earnings per share of $10.07 to $10.13, up from a previous forecast of $10.00 to $10.10. The pharmaceutical giant reported net income of $4.31 billion, or $1.69 per share. That was flat compared with net income of $4.31 billion, or $1.62 per share, for the same period a year ago.

Persons: Johnson, J, Joseph Wolk Organizations: LSEG

Birkenstock, the longtime German shoe brand known for its comfy and durable styles, is expected to price its IPO at $46 per share on Tuesday, giving it a tentative valuation of about $8.64 billion, according to a person familiar with the matter. Combined with the 21.51 million in shares its selling stockholders were looking to offload, the offering could bring in around $1.48 billion. Birkenstock's offering comes as the IPO market remains choppy after a number of recent filers began trading in muted debuts. But after an initial 40% pop, it closed at $33.70 on its first day on the Nasdaq and is now trading below its opening share price. It posted a net income of about 187 million euros ($198 million) in fiscal 2022.

Persons: Birkenstock's, hasn't, Birkenstock, Johnson, Catterton Organizations: Swiss, New York Stock Exchange, Nasdaq, Tech Locations: New York, German

☆ Stocks making the biggest moves midday: Rivian, Orchard Therapeutics, Lamb Weston and more
▼ + stars: | 2023-10-05 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Rivian said it anticipates revenue to range between $1.29 billion and $1.33 billion, versus the $1.3 billion forecast by analysts polled by LSEG, formerly known as Refinitiv. Clorox — Shares dropped 7.7% on Thursday, one day after the product maker offered worse fiscal first-quarter guidance than analysts polled by FactSet expected. Oculis — Shares rose 3.4% after Stifel initiated coverage of the biopharma company with a buy rating and $35 target price. Johnson & Johnson — Shares of the health-care giant added 0.8% in midday trading after RBC initiated company coverage with an outperform rating. Instacart — Instacart fell 2.9% after Bernstein initiated coverage of the company at a market perform rating, noting that increased competition challenged the delivery company's strong digital advertising business.

Persons: Rivian, Clorox, FactSet, Kyowa Kirin, Vestis, Oculis, Wedbush, Shagun Singh, Lamb Weston — Lamb Weston, Tom Werner, Instacart — Instacart, Bernstein, — CNBC's Brian Evans, Alex Harring, Tanaya Macheel, Sarah Min, Jesse Pound, Pia Singh, Samantha Subin, Michelle Fox Theobald Organizations: Rivian, Rivian Automotive, LSEG, Exxon Mobil —, UWM Holdings, BTIG, Orchard Therapeutics, Kyowa, Redburn, JPMorgan, Carrier, Bank of America, Johnson, RBC, Constellation Locations: Aramark, Europe

☆ This health care giant has 'unlocked potential' after a recent spinoff, RBC says
▼ + stars: | 2023-10-05 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Johnson & Johnson is a buy after the company's consumer business spinoff earlier this year, according to RBC Capital Markets. The firm initiated Johnson & Johnson with an outperform rating and $178 price target, which suggests shares can climb about 14.5% from Wednesday's close. This separation has "unlocked potential" for Johnson & Johnson going forward, analyst Shagun Singh said. Singh also said the company's pharma franchise is poised to deliver competitive growth and that its medtech division is on pace to achieve "top-tier growth and profitability." The analyst added that Johnson & Johnson is trading below its historical multiples despite its improved financial profile since its Kenvue spinoff and that the company has potential upside from further M & A activity.

Persons: Johnson, Shagun Singh, Singh, —, — CNBC's Michael Bloom Organizations: RBC Capital Markets, Johnson, Pharma, company's pharma Locations: Wednesday's

☆ 'Mispriced' stocks like this solar name are too attractive to ignore, Bank of America says
▼ + stars: | 2023-09-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Earlier this week, however, the bank lifted its rating to buy from neutral, saying ESAB is too attractive to ignore. "In our view, ESAB is a mispriced asset and the discount to peers is likely to narrow with the upcoming [December] Investor Day as a catalyst," El-Sabbahy wrote. First Solar Analyst Julien Dumoulin-Smith is getting increasingly bullish on shares of the solar company. ESAB "ESAB is executing better than expected (leverage falling, margin expanding, growth outperforming) and we have a renewed appreciation of its portfolio. In our view, ESAB is a mispriced asset and the discount to peers is likely to narrow with the upcoming [December] Investor Day as a catalyst."

Persons: ESAB, Sherif El, Sabbahy, Julien Dumoulin, Smith, BofA, FSLR, Didier Scemama, ASML, Scemama, mgmt, RMD Organizations: of America, CNBC Locations: Swedish, GLP

☆ The 'Great IPO Reopening' may be on hold: rising rates and weaker stocks are a killer
▼ + stars: | 2023-09-22 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

The Great IPO Reopening may be on hold: rising rates and lower stocks are an IPO killer. Instacart on Thursday broke below its initial price of $30 before closing at $30.65. Arm Holdings yesterday broke below its initial price of $51 before closing at $52. It's now at $30, still above its initial price the victim of massive selling the past two weeks. This is happening just as the next crop of IPO hopefuls is looking to go public in mid-October.

Persons: Instacart, Klaviyo, It's, Johnson, bode, Nizar Tarhuni, Tarhuni Organizations: Arm Holdings, Tech

☆ Monthly Meeting Q&A with Jim Cramer on 20 stocks in everything from tech to health care to retail
▼ + stars: | 2023-09-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +11 min

Jeff Marks: The upcoming earnings report should be good considering how strong the beer business is doing. Jim Cramer: Estee Lauder CEO Fabrizio Freda was adamant that this quarter wouldn't be any good so everyone is selling it. (Ronald) Jim Cramer: There is no pressure that could pull oil down with the Saudi Arabia oil cuts and Russia export cuts. Jeff Marks: These oil stocks have become great hedges to inflation again, much like they were last year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Jeff Marks, Jim Cramer, Johnson, Arbitrageurs, Greg, There's, We're, Elliott Management's, I'd, Elliott, Morgan Stanley, Carey, we've, James Gorman, Jim, Estee Lauder, Fabrizio Freda, there's, Dave Cote, Darius Adamczyk, Vimal Kapur, Darius, hasn't, —, Ronald, Rick, We've Organizations: Investing Club, Broadcom, VMWare, AAA, Constellation Brands, Modelo, Elliott Management, Cisco, Palo Alto Networks, Honeywell, Morgan, Morgan Stanley Laguna, GE Healthcare, Natural Resources, Devon Energy, Halliburton, HAL, Costco, Walmart, Kirkland, CNBC Locations: Canada, Johnson, Mel , Pennsylvania, Manville, New Jersey, U.S, Carey , Virginia, Asia, Kyle , Wisconsin, PANW, Omar , Colorado, Saudi Arabia, buybacks, GEHC

☆ ARM is IPOing profitably with massive sales in revenue, says Chantico Global CEO
▼ + stars: | 2023-09-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARM is IPOing profitably with massive sales in revenue, says Chantico Global CEOChantico Global CEO Gina Sanchez joins 'The Exchange' to discuss how to trade the IPO market, strong brand recognition in the profitable spin-off of Kenvue, and the pullback in Beyond Meat's market share.

Persons: Gina Sanchez Organizations: ARM, Chantico Locations: Kenvue

☆ Arm debut will help jump-start IPO market, early Airbnb investor Rick Heitzmann suggests
▼ + stars: | 2023-09-14 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Arm Holdings will help jump-start the IPO market, according to the venture capitalist behind Airbnb and Pinterest. Chip design company Arm , which is affiliated with Softbank, jumped almost 25% in its Nasdaq debut on Thursday. And, Heitzmann expects next week's Instacart IPO to follow in Arm's footsteps. "It's the reason they're going to price Instacart down 70% from the last private round." "People were wondering how much appetite is there from the big traditional IPO buyers," Heitzmann said.

Persons: FirstMark, Rick Heitzmann, CNBC's, Chip, Softbank, Johnson, Heitzmann, It's Organizations: Holdings, Softbank, Nasdaq, CART, Heitzmann

☆ Cramer's Lightning Round: Essential Utilities is at 'a good place to buy'
▼ + stars: | 2023-09-14 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Kenvue's year-to-date stock performance. Stock Chart Icon Stock chart icon UiPath's year-to-date stock performance. Stock Chart Icon Stock chart icon Essential Utilities' year-to-date stock performanceEssential Utilities : "I like them...It's very cheap right now, it's actually a good place to buy." Stock Chart Icon Stock chart icon Plug Power's year-to-date stock performance. Stock Chart Icon Stock chart icon Roku's year-to-date stock performance.

Persons: Abbott, It's, they're, it's, We've, Jim Cramer's Organizations: Utilities

☆ Lightning Round: Plug Power has hurt us too many times, it's done, says Jim Cramer
▼ + stars: | 2023-09-14 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Plug Power has hurt us too many times, it's done, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Kenvue, UiPath, Essential Utilities, Plug Power and Roku.

Persons: it's, Jim Cramer Organizations: Utilities

☆ Johnson & Johnson is replacing its iconic logo
▼ + stars: | 2023-09-14 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Johnson & Johnson is replacing its instantly recognizable logo that’s been in use for 135 years. Although it’s a big change, shoppers likely won’t notice it since the cursive logo will still be used on its consumer products, like Band-Aid and Tylenol. Johnson & Johnson recently split into two companies — one focused on medical devices and medications and the other on consumer health products, which operates under a brand called Kenvue. The name Kenvue reflects J&J’s desire for the new consumer company identity to take a backseat to well-known brands. Still, ditching the signature J&J logo marks an end of era since the company once stated that its “one of the longest-used company emblems in the world.” The new logo will roll out over time on J&J’s medical equipment and pharmaceutical products.

Persons: New York CNN — Johnson, Johnson, James Wood Johnson, Kenvue Organizations: New, New York CNN, Unilever, Procter, Gamble Locations: New York

Johnson & Johnson is signing off on a new logo. Johnson & Johnson itself narrowed its focus to pharmaceuticals and medical devices. The signature logo was “one of the longest-used company emblems in the world,” J&J declared in a 2017 website post. “Everyone washed their baby with Johnson & Johnson baby shampoo,” she said. New Brunswick, New Jersey-based J&J also will rename its Janssen pharmaceutical segment, changing it to Johnson & Johnson Innovative Medicine.

Persons: Johnson, James Wood, ”, Vanessa Broadhurst, ” J, J, Laura Ries, Ries, wasn't Organizations: Janssen, Johnson Innovative Medicine, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: New Brunswick , New Jersey

☆ Johnson & Johnson is getting rid of its script logo after more than 130 years
▼ + stars: | 2023-09-14 | by ( ) www.cnbc.com time to read: +1 min

Johnson & Johnson is signing off on a new logo. The health care giant said Thursday that it will replace the well-known signature script it has used since 1887 with a modern look that reflects its sharpened focus on pharmaceuticals and medical devices. Johnson & Johnson itself narrowed its focus to pharmaceuticals and medical devices. The signature logo was "one of the longest-used company emblems in the world," J&J declared in a 2017 website post. "Because it's easier, it almost even draws your attention to it," said Ries, who wasn't involved in the logo change.

Persons: Johnson, James Wood, Vanessa Broadhurst, J, Laura Ries, Ries, wasn't

☆ After Birkenstock's 'Barbie' bump, iconic footwear brand seeks a big part in IPO market
▼ + stars: | 2023-09-13 | by ( Natalie Rose Goldberg | ) www.cnbc.com time to read: +10 min

Footwear companies have found recent success going public market, but not all by any means over the longer-term. In more recent history, the brand has collaborated with Rick Owens, Dior, and Manolo Blahnik, among many other big names in fashion. The current IPO market landscape The IPO market has been all but frozen since the pandemic stock offering boom crashed, and successful IPOs have included iconic brands, such as the Johnson & Johnson spinoff of its consumer health business which includes Tylenol and band-Aids in the Kenvue IPO. Still, while Kenvue was the biggest deal of the year, it's barely holding onto its IPO price today, according to CNBC and Renaissance Capital data, and the IPO market overall hasn't performed great after listing. The two potential paths of a footwear IPO can be tracked by the histories of Crocs and Allbirds.

Persons: Nordstrom, Jeff Greenberg, what's, Johann Adam Birkenstock, Birkenstock, Angelo Bochanis, Oliver Reichert, outsized, Reichert, Konrad Birkenstock, Johann, Karl, Konrad, Margo Fraser, Kim Knott, Kate Moss, Corinne Day, Rick Owens, Dior, Manolo Blahnik, Jeremy Moeller, Barbie, Margot Robbie, Johnson, Kenvue, it's, hasn't, Mark Cohen, Cohen, Jamie Dimon, Dimon, Bochanis, " Cohen Organizations: Universal, Getty, New York Stock Exchange, Nasdaq, Holding, Renaissance, Consumers, British Elle, Brand, CNBC, Columbia Business School, Facebook, Wall, JPMorgan, Company Locations: Merrick, , Miami, Germany, America, California, British, Arizona, It's, U.S

☆ Decongestant found in many cold, allergy medicines doesn’t actually work, FDA advisors say
▼ + stars: | 2023-09-12 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

The main ingredient used in many popular over-the-counter cold and allergy medications doesn't actually work to get rid of nasal congestion, an advisory panel to the Food and Drug Administration declared Tuesday. The FDA typically follows the advice of its advisory committees but it is not required to do so. Pulling phenylephrine from the market could also affect retail pharmacy chains, which rake in revenue from selling over-the-counter cold and allergy pills. Retail stores in the U.S. sold 242 million bottles of drugs containing phenylephrine last year, up 30% from 2021, according to data compiled by FDA staff. Yet FDA staff, in briefing documents posted ahead of the meeting this week, concluded that oral formulations of phenylephrine don't work at standard or even higher doses.

Persons: Johnson, Scott Melville Organizations: Food and Drug Administration, FDA, Procter, Gamble, Consumer Healthcare Products Association, CVS, Walgreens, University of Florida Locations: U.S

☆ Acelyrin's skin disease drug trial failure wipes off IPO gains
▼ + stars: | 2023-09-12 | by ( Christy Santhosh | ) www.reuters.com time to read: +2 min

Sept 12 (Reuters) - Shares of drug developer Acelyrin (SLRN.O) on Tuesday erased all gains made since their stellar market debut in May, as the company's experimental lead drug failed to show superiority to placebo in reducing symptoms of an inflammatory skin disease. HS is a chronic inflammatory skin condition that causes painful lumps under the skin. Acelyrin said the trial was hit by early discontinuations as well as better placebo efficacy rates. However, Jefferies analyst Akash Tewari slashed the price target on Acelyrin's stock to $15 from $31, calling the latest data "painfully disappointing." "It's difficult to glean much from the data given how poorly the trial was run.

Persons: Acelyrin, Acelyrin's izokibep, Hidradenitis, Piper Sandler, Jefferies, Akash Tewari, We'll, Christy Santhosh, Saumyadeb Chakrabarty Organizations: Ventyx Biosciences, Apogee Therapeutics, Thomson Locations: Acelyrin, Bengaluru

☆ US FDA panel says popular decongestant used in cold medicines ineffective
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 12 (Reuters) - An outside panel of experts to the U.S. Food and Drug Administration on Tuesday refused to back the effectiveness of oral over-the-counter (OTC) medicines made with phenylephrine, an ingredient widely used in cold and cough syrups. The panel unanimously voted against the effectiveness of orally administered phenylephrine as a nasal decongestant, adding that no more trials were required to prove otherwise. The FDA usually follows the recommendations of its expert panel but is not obligated to do so. Phenylephrine was substituted for pseudoephedrine in many non-prescription cold and allergy medicines after the latter was restricted amid reports of abuse.

Persons: Andrew Kelly, Jennifer Schwartzott, Phenylephrine, Mariam Sunny, Devika Organizations: Food and Drug Administration, FDA, REUTERS, U.S . Food, Drug Administration, GSK, Thomson Locations: White Oak , Maryland, U.S, United States, Bengaluru

☆ Stocks making the biggest moves midday: Tesla, Qualcomm, Meta, Moderna and more
▼ + stars: | 2023-09-11 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Tesla — Shares of the electric vehicle maker jumped 6% after Morgan Stanley upgraded the stock to overweight from equal weight. Kenvue — Shares of the Band-Aid maker gained 3% after being upgraded by Deutsche Bank to buy from hold on Sunday. The Wall Street firm called Kenvue a high-quality company and believes the stock's slide has created an attractive entry point. Nubank – The U.S.-traded shares of the Brazilian financial firm rose nearly 6% after JPMorgan upgraded Nubank to overweight from neutral. Discovery and Paramount also traded higher on the news, rising 2.2% and 1.9%, respectively,AstraZeneca — The pharmaceutical company's shares lost nearly 3% midday Monday.

Persons: Morgan Stanley, Adam Jones, — Smucker, Alibaba, Daniel Zhang, Zhang, Nubank, Warner, Pascal Soriot, Immatics, — CNBC's Alexander Harring, Samantha Subin, Yun Li, Jesse Pound, Michelle Fox, Tanaya Macheel Organizations: Artificial Intelligence, Hostess Brands, Tenable Holdings, JPMorgan, Deutsche Bank, Alibaba Group, Wall Street, Meta, Qualcomm, Apple, Media, Disney, Charter Communications, Warner Bros . Discovery, Paramount, AstraZeneca, Reuters, Mail, Moderna —, Moderna Locations: Shanghai, U.S, Brazil

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