Apple, MP Materials and earth magnets
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Deutsche Bank raised its price target on shares of the rare-earth-metals miner MP Materials by 235%, making it the highest on Wall Street, but the stock is down anyway.Deutsche Bank’s Corinne Blanchard kept her Hold rating on MP Materials stock,
MP Materials' stock surged 50% after a transformative Department of Defense deal. Click here to find out why I rate MP stock as a hold at current prices.
MP Materials said on Wednesday it would sell $500 million of its common stock, a day after the U.S. rare earths miner inked a supply deal with Apple .
James Litinsky, MP Materials chairman and CEO, joins CNBC's 'Squawk on the Street' to discuss the company's deal with the Defense Department, in which the Pentagon will become the largest shareholder in the rare earth miner.
MP Materials shares are trading lower in after-hours Wednesday after the company announced a proposed public offering.
As of 10:17 a.m. ET on Friday, shares of MP Materials stock had climbed 6.5%.