Check out the companies making headlines in midday trading on Friday:
Alphabet – The Google-parent's stock rose nearly 1% after UBS increased its price target, saying shares will climb more than 15% this year. The firm's optimistic outlook came a day after a day after Alphabet became the latest U.S. company to reach a market capitalization of over $1 trillion.
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Boeing — Shares of the aerospace giant fell almost 1% after Bank of America said it expects Boeing to absorb a $20 billion total cost for its 737 Max crisis. The company will report full-year and fourth-quarter earnings on Jan. 29, when analysts expect Boeing will announce additional charges related to the troubled aircraft.
Dave & Buster's Entertainment — Shares of Dave & Buster's Entertainment skyrocketed more than 10% after KKR disclosed a 10.7% position in the restaurant chain. Raymond James believes there is a leveraged buyout scenario for Dave & Buster's, saying a takeout valuation in the mid-$50s could be supported. The stock trades around $46 Friday.
Qualcomm — Shares of the semiconductor company gained more than 3% after Citi upgraded the stock to a buy rating. The firm raised its 2020 full-year EPS and revenue estimates based on market share gains and the beginning of the 5G upgrade cycle. Citi also raised its target on the stock to $108, which is 13% higher than where it currently trades.
State Street – State Street stock surged 4.6% on better-than-expected quarterly results. The financial company reported earnings of $1.98 per share on revenue of $3.05 billion, while analysts expected earnings of $1.69 per share on revenue of $2.92 billion, according to Refinitiv. Expenses fell 9% to $2.27 billion, reflecting the impact of lower re-positioning charges.
United Natural Foods — Shares of the wholesale grocer plunged more than 10% following a downgrade to underweight by Wells Fargo. The firm said United Natural Foods operates within a "structurally challenged industry" as competition increases and the customer base shrinks.
J.B. Hunt Transport — Shares slid more than 4% after the company missed EPS estimates for the fourth quarter. The company reported earnings per share of $1.35, while Wall Street had been looking for $1.50, according to estimates from FactSet. Revenue came in at $2.45 billion, which was in line with estimates.
Comcast — Shares of Comcast jumped more than 1% after the company released details about its new streaming service Peacock. The service will launch on April 15 for Comcast subscribers and on July 15 nationally. There will be a free, ad-supported option as well two pricing options. The stock's rise brought Comcast to an all-time high on Friday.
Disclosure: Comcast is the owner of NBCUniversal, parent company of CNBC and CNBC.com.