Check out the companies making headlines before the market opens. Apple — Shares fell 1.4% after Jefferies downgraded the big tech company to “hold” from “buy,” saying initial demand was weaker than expected and therefore near-term expectations for the iPhone 16 and 17 were too high. The company added that Apple’s artificial intelligence capabilities, which are causing smartphone replacement cycles to accelerate, are a “premature” catalyst. NXP Semiconductor — Shares of NXP Semiconductor rose 0.8% after UBS upgraded the chip maker to buy from neutral. The company cited healthy inventory levels and “best-in-class profit elasticity.” Amazon — Shares of the e-commerce company fell nearly 2% after Wells Fargo downgraded the e-commerce company to equal weight from overweight, citing slowing growth and competition from Walmart. Pfizer activist investor Starboard Value bought about $1 billion in shares as it seeks to turn around the troubled company, sources told CNBC. After the news broke, the stock price rose nearly 3%. KB Home — Shares of the homebuilder fell 2% after Wells Fargo cut its rating to underperform from equal weight. The bank said KB Home is likely to lag peers in the next phase of the cycle. Coty — Shares of the beauty company rose 2.5% after Jefferies upgraded the stock to buy from hold. Analyst Ashley Helgans highlights continued growth in fragrances and attractive valuation Hershey’s – The chocolate maker’s shares at UBS and Bernstein Shares fell 1% after downgrading ratings to neutral and market perform respectively. UBS pointed to a challenging outlook for cocoa inflation in 2025, while Bernstein highlighted headwinds from GLP-1 drugs. American Express – The financial services stock fell more than 1% after JPMorgan downgraded the stock to neutral from overweight. JPMorgan believes the stock is expensive but has limited upside potential. Wynn Resorts — Shares of Wynn Resorts rose 2.5% on Friday after the casino and resort company announced it had received the United Arab Emirates’ first commercial gaming operator license. Ally Financial — The financial services stock rose 1.4% after JPMorgan upgraded the stock to overweight from neutral. JPMorgan said Ally’s risk-reward profile is attractive. —CNBC’s Yun Li, Samantha Subin, Alex Harring, Pia Singh and Michelle Fox contributed reporting
ABOUT US
Our news website delivers comprehensive coverage on US news, economy, politics, and world events, ensuring you stay informed on the latest developments. We provide timely and accurate news to keep you updated on the most important stories. Stay connected with us for in-depth analysis and breaking news from around the globe.
Contact us: contact@realtimeheadlines.com
© Real Times Headlines - 2024 | All Rights Reserved