LinkedIn Corp. (NYSE:LNKD) shares jumped 3 percent after JPMorgan Chase & Co. added the business networking site to its U.S. Equity Analyst Focus List, citing the company’s recently lowered outlook reflects issues that are short-term and fixable.
Analysts at RBC Capital reiterated the firm’s Buy rating on the stock, with a 12-month price target of $275.
LinkedIn’s shares gained 3.4 percent to $211.81 in morning trading.
Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) soared 17 percent Wednesday following a report the wireless-software company is exploring a sale, valued at more than $2 billion, the Wall Street Journal reported. The tech company is working with investment bank Qatalyst Partners on the deal, and has already "drawn interest from a number of private-equity firms," the report said.
Synchronoss shares leaped 17 percent to $49.84 in morning trading.
Vera Bradley Inc. (NASDAQ:VRA) tumbled nearly 11 percent after the handbag retailer cut its outlook for the year after posting a quarterly loss.
The company posted a net loss of $4.1 million, or 10 cents per share, on revenue of $101.1 million, compared with a profit of $6.9 million, or 17 cents per share, on sales of $112.2 million during the same period a year earlier.
The first quarter’s results included an after-tax charge of $4.2 million.
Vera Bradley’s stock, which has already lost around 34 percent so far this year, plunged 10.7 percent to $12.62.
Shares of Wendy’s Co. (NASDAQ:WEN) jumped 4.5 percent to $11.60 ahead of the opening bell a day after the restaurant company announced a $1.4 billion buyback and the completion of the sale of its bakery operations.
Wendy’s stock had gained 26 percent in 2015.