Check out the companies making headlines before the bell. JPMorgan Chase , Bank of America , Wells Fargo , Goldman Sachs , Citigroup — Major bank stocks rose less than 1% after the firms said they plan to hike dividends after receiving stress test results from the Federal Reserve. JPMorgan also announced a new stock buyback program. Rigetti Computing — Shares gained nearly 2% after Cantor Fitzgerald initiated coverage of the quantum computing company with an overweight rating, and a $15 price target implying more than 30% upside from Tuesday’s close. Analyst Troy Jensen said: “Quantum computing is in its…
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Apple ‘s short-term catalysts may be weighed down by its longer-term risks, according to Jefferies. The bank upgraded the iPhone maker to a hold rating from underperform on Tuesday. Analysts led by Edison Lee accompanied the move by hiking the bank’s price target to roughly $188 per share from $171, suggesting nearly 10% downside from Tuesday’s close. The Tim Cook-led company has tumbled 17% this year. AAPL YTD mountain AAPL YTD chart As a catalyst for the upgrade, Lee pointed to 15% annual growth in iPhone sales volume in April and May, the fastest pace since the third quarter of…
FILE PHOTO: A pedestrian passes a “Help Wanted” sign in the door of a hardware store in Cambridge, Massachusetts, U.S., July 8, 2022. Brian Snyder | ReutersPrivate sector hiring unexpectedly contracted in June, payrolls processing firm ADP said Wednesday, in a possible sign that the economy may not be as sturdy that investors believe as they bid the S&P 500 back up to record territory to end the month.Private payrolls lost 33,000 jobs in June, the ADP report showed, the first decrease since March 2023. Economists polled by Dow Jones forecast an increase of 100,000 for the month. The May job…
AstraZeneca CEO Pascal Soriot, pictured in London on June 28, 2023, reportedly wants to move the company’s stock listing from London to the United States.Justin Tallis | Afp | Getty ImagesPressure is piling on London’s stock exchange, with reports that British pharma giant AstraZeneca may move its listing to the U.S. delivering yet another blow this week.CEO Pascal Soriot is considering moving the company’s stock listing from London to the U.S., British newspaper The Times reported on Tuesday afternoon, citing anonymous sources. Soriot’s frustrations with the U.K.’s regulatory environment — particularly rules around new medicine approvals and drug pricing systems…
Cava has the ingredients for success, according to KeyBanc. Analyst Christopher Carril initiated the Mediterranean chain restaurant’s stock at overweight. Carril’s $100 price target implies 21.5% upside over Tuesday’s closing level. “With few direct competitors, CAVA is the leading brand in the fast growing Mediterranean fast casual segment,” Carril wrote in a Tuesday note to clients. “Like Chipotle did over the last two decades, we believe CAVA has the potential to define the category and bring Mediterranean to new markets across the country.” Carril said new-store returns are among the industry’s strongest, which should allow the Washington, D.C.-based company to…
Cantor Fitzgerald joined the bull camp on Rigetti Computing . Analyst Troy Jensen initiated coverage of the quantum computing stock at overweight. Jensen’s $15 price target suggests 32.4% upside over Tuesday’s close. “Quantum computing is in its infancy but remains one of the most highly coveted technical milestones with enormous economical implications,” Jensen wrote to clients in a Tuesday note. “While we are likely years away from full-scale quantum capabilities, the technology has already captured the interest of investors.” While Jensen said quantum is in its “infancy,” he said Rigetti is the leading pure play on superconducting, the type of…
Defense Secretary Pete Hegseth has ordered a pause in sending a shipment of missiles and ammunition to Ukraine amid concern about the U.S. military’s stockpiles, according to two defense officials, two congressional officials and two sources with knowledge of the decision.Hegseth ordered the delay weeks after he issued a memo ordering a review of the U.S. stockpile of munitions, which has been depleted after years of the United States’ sending weapons to Ukraine to defend against the Russia invasion, as well as nearly two years of military operations in the Middle East as the United States fought Houthi rebels in…
CBS News studio at Times Square in Manhattan, New York, United States of America, on July 6th, 2024. Beata Zawrzel | Nurphoto | Getty ImagesParamount has agreed to pay $16 million to settle a lawsuit brought by President Donald Trump that had alleged an interview that aired on CBS’s “60 Minutes” last year with Kamala Harris, his Democratic opponent for the presidency, was deceptively edited.The agreement in principle, proposed by a mediator, includes plaintiffs’ fees and costs and — except for fees and costs — will be allocated to Trump’s future presidential library, Paramount Global said in a statement late Tuesday. Paramount is…
An Amazon logistics center in Mecklenburg-Western Pomerania, Dummerstorf, Germany, on Nov. 27, 2024.Picture Alliance | Picture Alliance | Getty ImagesAmazon announced Monday its millionth worker robot, and said its entire fleet will be powered by a newly launched generative artificial intelligence model. The move comes at a time when more tech companies are cutting jobs and warning of automation.The million robot milestone — which joins Amazon’s global network of more than 300 facilities — strengthens the company’s position as the world’s largest manufacturer and operator of mobile robotics, Scott Dresser, vice president of Amazon Robotics, said in a press release. Meanwhile,…
A sign hangs from a branch of Banco Santander in London, U.K., on Wednesday, Feb. 3, 2010.Simon Dawson | Bloomberg via Getty ImagesIn one move, Santander has silenced months of speculation over it’s allegiance to the British high street – and complicated a year-long consolidation saga in Spain’s banking sector.On Tuesday, Spain’s largest lender said it agreed to buy British high street lender TSB for £2.65 billion ($3.6 billion) from Catalonia’s Sabadell in an all-cash deal subject to approval. The transaction will generate a return on invested capital of more than 20%, bringing its return on tangible equity in the…
