Amidst bustling streets, a Gap retail store stands tall, attracting passersby in Beijing, China.
VCG | Getty Images
Discover the companies driving conversations in the market today.
SoFi Technologies — The financial technology stock experienced a 3.7% decline as KBW analyst Michael Perito downgraded the stock from underperform to market perform. Despite raising the price target for shares by $2 to $7.50, this still suggests a potential 34.5% decrease from Monday’s closing price.
related investing news
Estee Lauder — The beauty stock declined by 1.1% following a Barclays downgrade from buy to neutral. The firm cited potential difficulties in China that may adversely affect the business in the short term.
Gap — The retail stock surged nearly 4% after Barclays upgraded Gap from equal weight to overweight. Analyst Adrienne Yih assigned a price target of $13 to the company, indicating a potential 26.2% rally from Monday’s close. The firm also upgraded retailers American Eagle, Bath & Body Works, and Tapestry to overweight, all of which have seen a more than 2% increase in early morning trading.
Incyte — Shares of Incyte rose by 2% after the company exceeded analysts’ expectations in its latest results. The pharmaceutical company reported second-quarter revenue of $954.6 million, surpassing the FactSet consensus estimate of $909.7 million. Per-share adjusted earnings amounted to $0.99, higher than the projected $0.72 per share. CEO Herve Hoppenot credited double-digit growth in Jakafi (ruxolitinib), a blood cancer treatment, for the positive performance.
Uber — Shares of the ride-hailing giant rose over 2% in premarket trading after reporting second-quarter results that fell short of analysts’ revenue expectations but included optimistic guidance for the third quarter. CEO Dara Khosrowshahi highlighted two major milestones achieved during the quarter: the company’s first quarterly free cash flow of over $1 billion and its first GAAP operating profit.
Caterpillar — Shares of the manufacturing company increased by 1.4% after surpassing expectations for earnings and revenue. However, Caterpillar warned of a potential decline in sales and margins for the third quarter.
Merck — Shares of the pharmaceutical giant increased by nearly 2% premarket following a strong second-quarter revenue report driven by sales of its cancer drug Keytruda and HPV vaccine Gardasil. Merck also posted a smaller-than-expected loss for the quarter.
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
