February 5, 2023

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Wayfair, Salesforce, Paypal, and more

Salesforce signs outside an office building in New York.

Scott Millian | CNBC

Check out the companies that are making the biggest initial marketing moves:

advanced micro devices The semiconductor maker rose nearly 3% after it was Promoted by Barclays to increase weight from the equal weight, which she said she sees rising potential from direct current and generative AI. The company has also upgraded Qualcomm and Seagate Technology to increase weight by the same weight. Qualcomm and Seagate each gained more than 2%.

Wayfair Online retail sales jumped more than 12% after doubling Promoted to overweight Underweight by JPMorgan. The Wall Street firm cited improved market share trends and a better understanding of spending from management.

sales force Salesforce shares gained more than 5% in pre-marketing on news that activist investor Elliott Management has acquired billion dollar share The cloud-based software giant.

Shopify – The e-commerce company is up nearly 5% after it was upgrade to buy From Deutsche Bank, who said brands are getting more and more interested in Shopify.

Abbott Laboratories Abbott Labs lost 2.5% after a Wall Street Journal Friday reported that the Department of Justice is investigating the behavior at its infant factory in Sturgis, Michigan.

CrowdStrike The cybersecurity firm fell nearly 2% after Deutsche Bank downgraded its rating, signaling intensifying competition.

PayPal – The payment company’s stock fell more than 1% in post-market pre-market trading Wall Street Journal It mentioned that large banks are collaborating to create their own digital wallet. The wallet will compete with PayPal and Apple Pay.

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Western Digital – The data warehousing company rose 4% after a report from bloomberg Late Friday, merger talks between Western Digital and Kioxia Holdings Inc. are progressing.

Warner Music Group The music entertainment company fell 2.45% after Barclays downgraded its rating to the same weight. Its analysts said that Warner Music’s financial performance was too volatile to warrant a premium valuation.

texture The trained parent and Kate Spade fell 1.85% after Barclays downgraded the rating to an equal weight of overweight. The reasons for the Wall Street firm included inflation creeping into higher household income brackets.

Skechers —Quinn upgraded Skechers to outperform the market, saying it remains the No. 2 casual sneaker brand in the United States and is gaining the edge in its survey. The company said compliant sales and EPS estimates are very conservative. Skechers gained approximately 2% in the primary market.

Zoom for visual communications Shares of Zoom fell 0.72% after MKM Partners downgraded the company to neutral from a buy, citing slowing growth.

– CNBC’s Jesse Pound, Alex Haring, Samantha Sobin, Carmen Renick and Michael Blum contributed reporting.