Apple ( NASDAQ: AAPL ) led the list of stocks making notable moves in Friday's midday trading. The iPhone maker received an updraft from an optimistic analyst comment.
Elsewhere, earnings news bolstered Broadcom ( AVGO ), while Eagle Bulk Shipping ( EGLE ) retreated following its quarterly update. In other news, Bumble ( BMBL ) fell on a secondary stock offering.
Gainers
Apple ( AAPL ) pushed higher in midday trading, boosted by positive comments from Morgan Stanley . Shares climbed more than 2%.
Analyst Erik Woodring outlined five "underappreciated" catalysts that could drive the stock over the next 12 months. These include iPhone growth, new product launches and subscription revenue.
Earnings news sparked a midday rally in Broadcom ( AVGO ). Shares of the semiconductor company surged almost 5% after the company surpassed expectations for both earnings and revenue.
The company reported a Q1 profit of $10.33 per share, topping the $10.17 per share that analysts were predicting. Revenue climbed 16% to $8.92B. Looking ahead, AVGO predicted Q2 revenue of about $8.7B.
Decliners
Eagle Bulk Shipping ( EGLE ) slumped in the wake of its quarterly report , dropping 15%. The company missed expectations with its Q4 profit and cut its dividend.
The shipper reported net income that fell nearly 70% from last year. The firm's non-GAAP EPS figure of $2.28 came in $0.76 below expectations. EGLE also slashed its quarterly dividend to $0.60 per share from $1.80 per share.
News of a secondary stock offering spurred selling in Bumble ( BMBL ). Shares of the dating app dropped 9% after the company priced a secondary offering by certain stockholders affiliated with Blackstone and its founder, Whitney Wolfe Herd.
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Hot Stocks: AAPL rises on analyst comment; AVGO, EGLE move on quarterly results; BMBL drops