Category: Stock News

Citi: Rough Road Ahead for Verizon

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Verizon’s shares fell on Monday after being downgraded by Citi.

Verizon’s shares fell more than 1% on Monday after being downgraded by Citi. Citi downgraded the company from buy to neutral but maintained its $62 price target.

Verizon is the second-largest wireless carrier in the U.S. The company’s shares have done well over the past year and are up more than 12% from a year earlier. But according to Citi analyst, Michael Rollins, this may not be enough for the company to remain competitive long-term.

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Netflix Loses Rights to Air “The Office”

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The company will lose the rights to air its most popular series in 2021…

Providing great content is everything for Netflix so the company was under pressure when it came out that Netflix will lose one of its most popular series. “The Office” will be removed by NBC in 2021. 

Netflix offered to pay NBC $90 million per year to continue airing the show but NBC declined. “The Office” is one of the most-watched shows on Netflix so it will be a major blow for the company to lose the series.   Continue reading “Netflix Loses Rights to Air “The Office””

Tesla Beats Delivery Record but Doubts Linger

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Tesla’s shares are up but investors are looking ahead to the company’s quarterly results.

Tesla’s shares were up on Wednesday after the company revealed that it delivered 92,500 cars during the last quarter. This beat the company’s record of 90,700 deliveries, which it reached in the final quarter of 2018.

Tesla’s shares were up 7% in premarket trading and investors are cautiously optimistic. In a note to investors, USB wrote that the spike in deliveries doesn’t change the company’s “cautious view on Q2 earnings.”

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Why Was Roku Stock Downgraded?

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Roku’s rocking 2019 … so why was its stock downgraded? 

Roku’s shares fell more than 3.5% on Tuesday after the company was downgraded by RBC Capital Markets. RBC lowered Roku’s rating from outperform to perform but held the company’s $90 price target.

This is somewhat surprising, given that Roku has massively outperformed in 2019. The company’s shares have risen 200% since the beginning of the year. In comparison, the S&P 500 has grown by a more modest 18%. 

So what’s the deal? Here’s what you need to know…

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Apple Investors Breathe a Sigh of Relief

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Apple’s shares rose more than 3% Monday…

Trade war tensions between the U.S. and China are halted for the time being, which is good news for Apple investors. The company has come under the microscope over the past couple of months, causing its shares to fall in early June. 

The company’s products have been largely unaffected by recent tariffs but there was a concern that popular Apple products could become a target if conditions worsened.

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G20 Brings Good News for American Chip Makers

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Today, we’re seeing big gains in U.S. markets based on easing of trade conflict with China.

Why the significant jumps in U.S. stock futures today? Part of the enthusiasm that’s driving renewed market activity: the technology sector.

In past weeks, as tariff activity seem to be ratcheting up, chipmakers like Broadcom came out with poor earnings reports and projected sales reports partially based on the fact that they source products and materials from Chinese companies. As American businesses were under a mandate not to buy from China, it was hurting their supply chains.

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Walgreens Beat Earnings Estimates … But Is the Chain Doomed?

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The company’s shares went up after releasing fiscal third-quarter earnings… 

Walgreens saw its shares rise after releasing a better-than-expected earnings report. 

In many ways, it’s surprising that Walgreens shares went up at all. Although the earnings report was better than what investors were expecting, it still wasn’t all that great. 

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Bad Earnings News for General Mills

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The company’s shares were down by 8% after releasing fourth-quarter earnings…

Shares of General Mills tumbled after the company delivered its latest earnings report. The company’s revenue fell short of expectations during its fiscal fourth-quarter.

This was largely attributed to the sharp decline in demand for the company’s snack foods. In fact, the report revealed that the company’s pet division is the only real area where there’s much consumer demand. 

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AbbVie Investors: Is the Company Making a $63 Billion Mistake?

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AbbVie’s shares tanked after announcing its plans to acquire the drugmaker Allergen…

Shares of AbbVie fell more than 15% on Tuesday after the company announced it plans to acquire the drugmaker Allergan for $63 billion. The price represents a 45% premium over Allergan’s closing price on Monday.

AbbVie’s shares were trailing even before the announcement as investors became increasingly concerned about declining sales. The Allergan announcement simply added more fire to these concerns.

However, this announcement was good news for Allergan shareholders, who have been pushing for the company to either split or be sold. Allergan’s stock soared more than 26% on Tuesday.

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Grubhub Shares Rise After Citi Upgrades Stock

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The company’s shares went up 7.5% after being upgraded by Citi.

On Tuesday, Citi upgraded Grubhub from neutral to buy after analysts saw greater upside for the stock. Citi also raised its price target on the company from $75 to $91.

As the reason for the upgrade, Citi said that Grubhub continues to become more efficient and improve the quality of its partnerships. And in spite of increased competition, the mobile delivery market continues to grow at a rapid pace.

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