During the midday session on Tuesday, investors were looking at the most recent CPI number and thinking about the economy as a whole. Analyst comments once again had a big effect on certain stocks. An upgrade to Pinterest (NYSE:PINS) caused the PINS stock price to go up.
Significant gains were also made by Nvidia (NASDAQ:NVDA) after an analyst praised the company’s ChatGPT product.
On the other hand, Cano Health (NYSE:CANO) fell as a result of an unfavorable comment from BofA Securities. In the meantime, Pacira BioSciences (PCRX) refused to give a prediction for 2022 and instead shared information about how the company did each month.
Gainers: NVDA and PINS Stocks
Following a favorable remark from Citi, Nvidia (NASDAQ:NVDA) displayed strength in midday trading. According to analyst Atif Malik, the NVDA chatbot ChatGPT may be the “next killer data center AI application” and a possible “Pokemon Go” for artificial intelligence.
Citi has a Buy rating and a $210 price objective on the stock. In Tuesday’s noon session, shares increased 4% to about $183.
Pinterest received a boost from analyst remarks as well (NYSE:PINS). The social network company’s shares increased by over 10% after Piper Sandler upgraded the stock from Neutral to Overweight.
Analyst Thomas Champion praised the company’s enhanced advertising offering and growing market share in a letter to investors, saying, “We appreciate the new leadership, investor activism, and we see a repurchase approaching.”
Decliners
After the company released its monthly financial results and refused to give guidance for 2022, there was a lot of pressure to sell Pacira BioSciences (PCRX). Nearly 7% of the shares fell during lunchtime trading.
Preliminary unaudited net product sales for November came in at $57.5M, according to PCRX. The company that makes products to treat pain said that it would not predict its gross margin or revenue for 2022, citing the uncertainty caused by COVID-19 and labor shortages.
When BofA Securities started coverage of Cano Health (NYSE:CANO) with an Underperform rating, the shares fell more than 5% intraday. The company’s negative outlook was justified by “the prospect of needing to raise funds.”
Read more on yesterday’s movement on 6 Stocks To Watch On Monday, Including Microsoft, Gap, Horizon Therapeutics, And More
Featured Image: Pixabay @ Firmbee
Author Jowi Kwasu 
