Hot Stocks: JNJ rises on buyback news, TSM gains, UNP slips on downgrade, CSGP falls as well
Nikada

Johnson & Johnson (NYSE:JNJ) moved into the green after announcing a stock buyback program. Shares of Taiwan Semiconductor Manufacturing Company (NYSE:TSM) also head higher after Apple (AAPL) reportedly will be using the firmâs latest chip technology in some of its products next year.
Union Pacific Corporation (NYSE:UNP) declined in early market trading after the railroad company was downgraded. At the same time, CoStar Group, Inc. (NASDAQ:CSGP) also has fallen after the organization announced a public offering of its common stock
Gainers
Johnson & Johnson (JNJ) has drifted higher in premarket trading by 0.9% as the pharmaceutical giant stated that its board has authorized to buy back up to $5B worth of common stock. Moreover, JNJ said that the buyback program has no time limit and may be suspended for periods or discontinued at any time.
Taiwan Semiconductor Manufacturing Company (TSM) ticked higher in early market trading by 0.5%. The chip firm gained as Apple (AAPL) outlined plans to use the latest chip producing technology from TSM in its iPhones and Macbooks next year.
Decliners
Shares of CoStar Group, Inc. (CSGP) have declined by 2.1% during early market trading. CSGP dipped as the organization announced a public offering of $750M of its common stock in conjunction with inclusion into the S&P 500 Index.
Union Pacific Corporation (UNP) dropped lower into the red after being downgraded. UNP is -2.7% as Bernstein is no longer bullish on the stock. In its downgrade, Bernstein noted: âreality of weaker volumes, moderation in pricing tailwinds, and elevated inflationâ are factors that the market must adjust to.
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