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- Analyst comments exerted a heavy influence over a couple of big-name stocks in Tuesday's midday trading. Juniper (NYSE:JNPR) rose on a double upgrade, while IBM (NYSE:IBM) retreated in the wake of a Sell rating.
- In other news, Illumina (NASDAQ:ILMN) saw strength after releasing preliminary results and guidance. Meanwhile, an updated forecast sent Big Lots (NYSE:BIG) in the opposite direction, as signs of softening sales sparked a decline.
Gainers
- A bullish analyst comment gave a lift to shares of Juniper (JNPR). The stock rose 2% after receiving a double upgrade from Bank of America, which raised its rating to Buy from Underperform. In making the call, analyst Tal Liani predicted that 2022 could see "networking's renaissance."
- Illumina (ILMN) was another notable gainer in midday action. Shares rose almost 12% after the company released strong preliminary results for 2021. ILMN also issued upbeat guidance for 2022.
Decliners
- IBM (IBM) declined 3% in intraday action after the stock received a downgrade from UBS. The firm slashed its rating on IBM to Sell from Neutral, citing high valuation.
- Elsewhere in the market, Big Lots (BIG) posted a 3% intraday decline after it warned of softening sales trends as a result of Omicron and winter weather. Given these dynamics, the low-price retailer said its comparable sales could be flat in January, with any increase coming in below its previous expectations.
- Looking for more info about the day's best- and worst-performing stocks? Head over to SA's On The Move section.