Stock market live updates: Dow up 100, Tesla tops $900, Virgin Galactic spikes

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The Dow climbed 103 points at the open, poised to snap a three-day losing streak. The S&P 500 and the Nasdaq Composite also moved up 0.3% and 0.2%, respectively. Apple rebounded from Tuesday’s losses, up 0.6%. Tesla shares are on the rise again, surging more than 6% to above $900 a piece.— Li

  • Piper Sandler raised its price target on Tesla to $928 from $729
  • Bernstein upgraded Nvidia to outperform from market perform and raised its price target to $360 from $300
  • Guggenheim initiated iHeartMedia as buy
  • Oppenheimer downgraded Tencent Music Entertainment to perform from outperform
  • UBS raised its price target on Adobe to $430 from $360
  • Argus downgraded Royal Caribbean to hold from buy

CNBC PRO subscribers can read more here. —Bloom

Shares of the meal kit service slid more than 7% in Wednesday’s premarket trading after the company reported disappointing fourth quarter earnings and said that it was considering “strategic alternatives.” For the quarter Blue Apron lost $1.66 per share, which was larger than the $1.60 loss analysts polled by FactSet had been expecting. Revenue also missed estimates. As the company struggles – shares have shed more than 80% in the last year – the company said it was exploring options. “These alternatives could include, among other things, a strategic business combination, a capital raise through the public or private markets, a transaction that results in private ownership or sale of the company or its assets, or some combination of these,” a press release said. -Stevens

Shares of Garmin gained more than 8% ahead of the market’s open following the company’s fourth quarter earnings results, which topped analyst expectations on the top and bottom line. The fitness device maker posted earnings of $1.29 per share, compared to the consensus of $1.05, according to estimates from FactSet. Revenue came in at $1.10 billion, ahead of the $1.01 billion expected. The company also gave upbeat guidance, and raised its dividend. -Stevens


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