Take a look at some of Tuesday's morning movers:
FedEx - The package-delivery company topped profit and sales expectations, but
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
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