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Check out the companies that are trending in intraday trading. Comerica — Shares of the regional bank rose 1.7% after Goldman Sachs upgraded the stock from neutral to buy. The company predicted that regional banks’ profitability would improve from the second half of this year. Truist Financial — Stock rises 2% on acquisition from Bank of America, citing three reasons for upgrade: Truist’s balance sheet and the company’s focus on franchise efficiency and growth potential. There is. Walgreens Boots Alliance — The pharmaceutical chain operator suffered a 7% loss as it cut its quarterly dividend from 48 cents per share to 25 cents per share in an effort to “strengthen its long-term balance sheet and cash position.” Still, Walgreens reported fiscal first-quarter profits and sales that beat analysts’ expectations. Allstate — The insurance company rose his 3% following a bullish call from Morgan Stanley. Morgan Stanley upgraded Allstate to overweight, saying the company is an “undervalued story” with potential for improved earnings growth in 2024. Eli Lilly — Pharmaceutical stocks rose 1.6% on him. Eli Lilly on Thursday launched a website called LillyDirect that allows people to access weight loss drugs through telemedicine providers. Mobileye — Shares plunged 24% after the self-driving technology company predicted a 50% year-over-year decline in first-quarter revenue. Mobileye said it expects customer orders to decline significantly due to excess inventory. As a result, Bank of America downgraded the stock from Neutral to Underperform. General Motors — Wolf Research upgraded the traditional automaker to Outperform, sending the stock up 1.6% on Thursday. Investors are underestimating GM’s earnings and cash flow strength, the company said. APA — The company’s stock price fell 7% after the company agreed to buy Permian Basin producer Caron Petroleum in a $4.5 billion all-stock deal that includes debt. Caron, which had a market capitalization of $2.3 billion as of Wednesday’s close, saw its shares rise nearly 4%. Cal-Maine Foods — The egg company’s stock rose 3.3% even though Cal-Maine posted year-over-year declines in fiscal second-quarter net sales and net income. The company said Wednesday that egg sales volume increased, but the net average selling price was down about $1 per dozen eggs compared to the same period last year. Apple — Shares of the iPhone maker fell about 1.3% after Piper Sandler downgraded the stock from overweight to neutral, citing valuation concerns, macro weakness and a bleak outlook for devices. This is Apple’s second major downgrade. The stock has fallen more than 5% since Tuesday. —CNBC’s Yun Lee, Jesse Pound, Sarah Ming and Michelle Fox contributed reporting.
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