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Stocks making the biggest moves midday: Wayfair, Meta, Apple, Spotify, Qualcomm and more



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The Spotify logo on a smartphone arranged in Saint Thomas, U.S. Virgin Islands, on Saturday, Jan. 29, 2022.Gabby Jones | Bloomberg | Getty ImagesCheck out the companies making headlines in midday trading.Wayfair — Shares of the furniture retailer jumped 24.1% on Monday after Wayfair received upgrades from multiple Wall Street firms, include a double upgrade to overweight from underweight at JPMorgan. The company announced on Friday that it would lay off about 10% of its global workforce as part of a cost-cutting plan. JPMorgan cited Wayfair management’s “newfound commitment to controlling expenses” in its upgrade note.related investing news 17 hours agoApple – Apple shares rose 3.2%, as China’s reopening gave hope to investors that it would give the tech and electronics business a lift. Morgan Stanley called the stock a top pick, saying the reopening has “important implications” for demand as well as supply.Meta — Shares of Meta climbed 2.4% after Citi reiterated its buy rating on the social media company, saying that while there’s limited macro visibility, they believe the market is stabilizing.Spotify — Spotify gained 3.1% after the company sent an internal memo to staff on Monday announcing plans to lay off 6% of its global workforce, or about 600 employees. Spotify CEO Daniel Ek admitted the streaming giant was “too ambitious in investing ahead of our revenue growth.”Skechers — Skechers popped 3.7% after Cowen upgraded the stock to outperform from market perform. The firm said there were potential upsides that Wall Street could be overlooking.Salesforce — Salesforce shares advanced 3.9% following news that activist investor Elliot Management has reportedly made a multibillion-dollar i …

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