Here are Tuesday’s biggest calls on Wall Street: Goldman Sachs downgrades Boston Beer to sell from neutral Goldman said in its downgrade of the beer and beverage company that the outlook for hard seltzer is “deteriorating.” The firm also upgraded Molson Coors to neutral from sell and said it sees a better risk / reward. … Read more
Take a look at some of the biggest movers in the premarket: Nike (NKE) – Nike fell 2.4% in premarket trading despite reporting better-than-expected quarterly profit and revenue. The athletic apparel and footwear maker forecast current-quarter revenue below analysts’ estimates amid increased promotional activity and ongoing disruptions in its profitable Chia market. Spirit Airlines (SAVE) … Read more
Shares of Snowflake are a ‘high quality growth’ story for investors with more than 30% upside from here, according to Jefferies. Analyst Brent Thill upgraded the stock to buy from hold, saying in a Tuesday note that shares are at an “attractive entry point” given its long-term targets. Snowflake’s stock price has fallen 63% off … Read more
General view of WeWork Weihai Road flagship is seen on April 12, 2018 in Shanghai, China. World’s leading co-working space company WeWork will acquire China-based rival naked Hub for 400 million US dollars. (Photo by Jackal Pan / Visual China Group via Getty Images) VCG | Getty Images Check out the companies making headlines in … Read more
Here are Thursday’s biggest calls on Wall Street: Credit Suisse initiates WeWork as outperform Credit Suisse said in its initiation of the stock that it’s well positioned to capitalize on the work from home phenomenon. “After the significant cost restructuring (~ $ 2.6B) post the failed IPO, we believe WeWork is well positioned to take … Read more
Check out the companies making headlines before the bell: Accenture (ACN) – The consulting firm’s shares fell 3.3% in the premarket after its quarterly revenue beat forecasts but earnings were impacted by the cost of its Russia exit. Accenture raised its full-year revenue forecast but cut the top end of its projected earnings range due … Read more
Here are the company’s making headlines in midday trading: Moderna – The biotech stock jumped 7% after a Food and Drug Administration committee voted to recommend Moderna’s Covid vaccine to children ages six through 17. The FDA is expected to authorize vaccines for children later this week. Robinhood – Shares of the retail brokerage fell … Read more
Here are Wall Street’s biggest calls on Wednesday: Goldman Sachs initiates Wheels Up as buy Goldman said in its initiation of the on-demand private jet company that it sees an attractive entry point. “Wheels Up is a leading company in an established and growing end-market, but one that is also fragmented and has substantial opportunity … Read more
Check out the companies making headlines before the bell: Baidu (BIDU) – Baidu shares jumped 4.1% in premarket trading after Reuters reported the China-based internet search giant is in talks to sell its controlling stake in the video streaming company iQIYI (IQ). iQIYI fell 3.4%. MicroStrategy (MSTR) – MicroStrategy lost 2.2% in the premarket as … Read more
It’s time to jump back on the Snowflake bandwagon, according to Canaccord Genuity. Analyst David Hynes Jr. upgraded the stock to buy from hold, saying in a note late Tuesday that the company’s long-term targets seem achievable. Snowflake sees product revenue ballooning to $ 10 billion and free cash flow margins expanding to 25% by … Read more