Check out the companies making headlines in midday trading on Friday.
— Shares of the semiconductor company gained more than 3% after Citi upgraded the stock to a buy rating. The firm raised its 2020 full-year EPS and revenue estimates based on market share gains and the beginning of the 5G upgrade cycle. Citi also raised its target on the stock to $108, which is 13% higher than where it currently trades.
– State Street stock surged 4.6% on better-than-expected quarterly results. The financial company reported earnings of $1.98 per share on revenue of $3.05 billion, while analysts expected earnings of $1.69 per share on revenue of $2.92 billion, according to Refinitiv. Expenses fell 9% to $2.27 billion, reflecting the impact of lower re-positioning charges.
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