Check out some of the biggest movers at midday: Lockheed Martin — The defense contractor’s flagship rose 3%. Morgan Stanley said the future is bright following an agreement to continue production of F-35 fighter jets for the Pentagon, upgrading the stock from equal weight to overweight and raising its 12-month price target to $835 from $690, implying a 38% upside from Friday’s close. CACI International — The defense contractor soared 6% after Jefferies upgraded CACI from hold to buy and raised its price target to $725, suggesting a nearly 17% upside from Friday’s close. JetBlue Airways — The New York-based airline fell 12% after a report in the Wall Street Journal that JetBlue’s senior creditors are working with restructuring advisers. The company’s bond prices fell late last week, and its stock price has fallen about 50% since the beginning of the year. Verizon Communications — The carrier fell 3% after reporting its third-quarter earnings. Xencor — Shares soared 20% to a 52-week high of $30 after the biotech company announced positive data on a treatment for certain types of kidney cancer. Xencor said its XmAb819 demonstrated antitumor activity in patients with advanced clear cell renal cell carcinoma, and that existing cash reserves are sufficient to fund pipeline research and operations through 2029. NeoCloud Stocks — Stocks of several companies rose after Elon Musk said in a post on CoreWeave and Iren were healed by 5% and Nebius was increased by 1%. Tesla — The electric car maker rose 6% after Barclays upgraded Tesla to overweight. Analysts at the bank said the outlook became more bullish due to the merger opportunity with SpaceX, growth in its robotaxi business and strength in its core business. Range Resources — The natural gas company rose 15% after EQT Corp announced it would acquire Range Resources in a deal that values the company at more than $50 billion. EQT stock fell 4%. The all-stock transaction is expected to close in the first quarter of 2027. Moderna — Shares continued to fall following last Thursday’s leak of closely tracked cancer vaccine research, with the stock dropping another 2%. The company’s shares fell more than 18% last Thursday and Friday. Booz Allen Hamilton — Management and defense consultant Booz Allen Hamilton upgraded TD Cowen stock from hold to buy with a price target of $95, after rebounding 8%, citing improvements in “funding balances, private sales supply, and fixed price trends.” Ross Stores — The retailer added 3% after UBS upgraded Ross to an acquisition target. Analysts at the bank said the stock could rise above $300 as store productivity increases. Surgical Partners — Shares rose 47% after Bonn Securities Mercy Health agreed to buy the company for $23.50 per share in cash, or $5.7 billion. Fair Isaac — The data analytics company fell 14% after Wells Fargo downgraded Fair Isaac from overweight to equal weight. Analysts justified the downgrade after Fair Isaac said it would not raise prices to encourage financial institutions to continue using FICO scores. Maplebear – The parent company of delivery service Instacart fell almost 6%. On Friday, The Information reported that the company is considering a sale, including early talks with DoorDash and Uber. — With additional reporting by CNBC’s Deena Zaidi, Davis Giangiulio, Liz Napolitano, Michelle Fox, Paulina Ricos and Darla Mercado
