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Stocks making the biggest moves midday: Moderna, Pepsi, Lyft and more

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Pepsi products are displayed for sale in a Target store on March 8, 2022 in Los Angeles, California.
Mario Tama | Getty Images

Check out the companies making the biggest moves midday Wednesday:

Modernajointly develop and sell a cancer vaccine. Moderna’s vaccine is being studied in combination with Merck’s Keytruda to treat patients with high-risk melanoma in a Phase 2 trial.

Norwegian Cruise Line HoldingsUBS upgraded the cruise operator to a buy and said its shares can rally 30% given the significant improvement in bookings in its third-quarter preview. Competing stocks Royal CaribbeanCarnival

T. Rowe Price

American International GroupJeffries upgraded it to buy from hold. Jefferies said it sees “unappreciated core growth” for the global insurance company.

PepsiCotopped analyst expectations. Pepsi also raised its guidance for the year as it was able to successfully raise prices on its products.

Lyftan upgrade from Gordon Haskett to buy from hold. The firm said the stock is trading at attractive levels and should benefit as driver supply improves. The upgrade came after shares fell Tuesday as the Labor Department proposed a change to how gig workers are classified.

Philips

Cameco

El Pollo Loco

KnowBe4reported the cybersecurity firm is close to finalizing a deal to be bought by private equity firm Vista Equity Partners. The deal is worth about $4.5 billion, people familiar with the matter told the paper.

Rocket Labunderperform rating, citing a challenging growth trajectory ahead for the industry. The firm said Rocket Lab has roughly 30% downside from here.

American Airlinesthird-quarter sales likely came in better than it previously expected. Revenue for the three months ended Sept. 30 will be up 13% from the same period of 2019, when it brought in $11.91 billion, American Airlines said.

— CNBC’s Tanaya Macheel, Samantha Subin, Alex Harring and Sarah Min contributed reporting.

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