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Shares that make the most important strikes at midday: Microsoft, Enphase Vitality, Salesforce, and extra

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Take a look at the companies that hit the headlines on Wednesday noon:

Salesforce, Adobe – Software stocks each fell more than 4% after UBS downgraded both companies from buying to neutral. UBS said business technology spending was fueled by the pandemic, which resulted in slower growth for Salesforce and Adobe in 2022.

Enphase Energy – Enphase stocks fell 7.5% after Bank of America downgraded the stock from buy to neutral. The Wall Street company also cut its price target from $ 297 per share to $ 187 per share.

Microsoft – Some software, technology, and chip stocks continued to fall after Tuesday's sell-off. Okta lost 2.8%, DocuSign fell 2% and Snowflake lost 3%. Microsoft lost 2.1%.

Alibaba – Shares in the Chinese e-commerce giant rose nearly 5% after Charlie Mungers Daily Journal nearly doubled its stake in the stock. A government filing on Tuesday showed the Daily Journal now owns more than 600,000 shares of Alibaba.

Beyond Meat – The alternative meat company's shares rose 3% after KFC announced it would add Beyond Meat's vegetable-based chicken to its menu starting Monday. The two companies have been testing the product for years, and the Beyond Meat Roast Chicken will be available for a limited time, according to KFC.

Pinterest– The stock of the picture-sharing site rose nearly 2% after Piper Sandler raised the stock from neutral to overweight. The Wall Street firm said Pinterest's share price could rebound 60% from a 50% sell-off last year as concerns about user growth seem exaggerated.

Pfizer – Shares in the Covid-19 vaccine maker rose 1.8% after Bank of America switched from Bank of America to a neutral buy. The company determined that the financial success of the company's Covid vaccines and oral treatments puts the company on a strong footing for years to come.

Nikola – Electric truck maker shares rose more than 3% in midday trading after logistics company USA Truck announced a deal to buy 10 Nikola electric trucks.

Garmin – Garmin's shares rose 3% after Deutsche Bank upgraded the stock to buy off hold. The Wall Street firm said it likes Garmin's "high quality" financial stocks.

– with reports from Jesse Pound, Hannah Miao, Yun Li and Tanaya Macheel from CNBC.

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