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Stocks to Watch: FDX, AAPL, AA & More

Take a look at some of Tuesday's morning movers:

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FedEx - The package-delivery company topped profit and sales expectations, but cut its earnings outlook.

Apple - Bank of America/Merrill Lynch lifted its price target on the iPhone maker to $850 from $770. Apple shares first crossed above $700 a share in after-hours trading Monday. (Read More: At $700, What Do You Do With Apple?)

Alcoa - Jefferies cut its rating on the aluminum producer to "hold" from "buy."

RBC Capital downgraded a batch of chipmakers including Analog Devices , Intel , Nvidia and Texas Instruments to "sector perform" from "outperform."

Meanwhile, the brokerage upgraded Broadcom to "outperform" from "sector perform," and raised its price target to $46 from $38.

Alpha Natural Resources - The coal producer announced plans to cut 1,200 jobs, including 400 with the immediate closing of eight mines in Virginia, West Virginia, and Pennsylvania.

IRIS International - The medical diagnostics was downgraded to "hold" from "buy" at Benchmark Co. a day after Danaher announced it is acquiring the firm.

Skullcandy - The headphone maker named Kyle Wescoat as its new chief financial officer.

Zynga - The social gamemaker was mentioned positively at Lazard following the acquisition of A Bit Lucky. Zynga shares have plunged more than 60 percent year-to-date.

—By CNBC.com’s JeeYeon Park; Follow Her on Twitter @jeeyeonparkcnbc

Questions? Comments? Email us at marketinsider@cnbc.com