Here’s a look at the companies making headlines in midday trading: Micron Technology — Micron Technology — Micron Technology shares edged up $2.7 after JPMorgan reiterated its overweight position ahead of the memory chip maker’s earnings. %, and is expected to report earnings after the market close on Wednesday. Analyst Harlan Sur predicts that strong artificial intelligence and server demand will drive Micron Technology’s performance. Tesla — Shares rose 4.8% after Barclays reiterated its equal-weight rating on the electric car maker, saying third-quarter delivery data could be better than expected and be “near-term positive” for the stock. AeroVironment – Shares of the defense contractor rose more than 8% after the U.S. Army canceled a stop-work order on a $990 million contract. Monday’s gains put the stock on track for its biggest gain since Aug. 28, when it rose 9%. General Motors — The automaker fell 3% after Bernstein downgraded its shares to market perform from outperform, citing earnings risks and potential pricing headwinds from higher inventories. Ulta — The cosmetics stock fell more than 3% after TD Cowen downgraded the stock to a hold from buy. The investment firm said Ulta’s sales growth is slowing and the stock’s valuation appears to be full. Biohaven — Shares of Biohaven surged 12% after the clinical-stage pharmaceutical company announced positive trial data for its treatment for spinocerebellar ataxia, troriluzole. Studies show that troluzole can slow the progression of neurodegenerative diseases in patients by 50% to 70%. Intel — Shares of the struggling chipmaker rose 2.4% after Bloomberg News reported Sunday that Apollo Global Management Inc. was planning to invest billions in Intel. CNBC also confirmed on Friday that Qualcomm had recently approached Intel about an acquisition. Ciena — Shares of Internet Systems rose 4.6% after a double upgrade from Citigroup to “buy” from “sell.” Citigroup said the company is more likely to achieve its long-term goal of revenue growth. —CNBC’s Jesse Pond, Alex Harlin, Samantha Subin and Sean Conlon contributed reporting.
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