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January 31, 2023

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Pfizer told investors to expect revenue to decline in 2023 by as much as 33% to between $67 billion and $71 billion as the world emerges from the pandemic and demand for its blockbuster Covid drugs slows.

Covid vaccines sales are projected to plummet by 64% this year to $13.5 billion from $37.8 billion in 2022. Paxlovid sales are expected to drop 58% to $8 billion in 2023 from $18.9 billion in 2022.

Pfizer is also forecasting that its full-year earnings per share will drop by as much as 50%, to between $3.25 and $3.45, from a record EPS of $6.58 in 2022.

Bernstein analyst Stacy Rasgon downgraded Advanced Micro Devices Inc. (AMD) from Outperform to Market Perform on Jan. 24, 2023, and slashed the price target from $95 to $80.

Susquehanna analyst Christopher Rolland maintained a Positive rating on Advanced Micro Devices Inc. (AMD) and raised the price target from $80 to $88.

B of A Securities analyst Mihir Bhatia upgrades Fleetcor Technologies (NYSE:FLT) from Neutral to Buy and raises the price target from $208 to $240.

Atlantic Equities analyst Colin Isaac upgrades LyondellBasell Industries (NYSE:LYB) from Neutral to Overweight and announces $110 price target.

Motorsport Games Inc. (NASDAQ:MSGM) shares shot up 689% to $20.75. The company announced a debt-for-equity exchange with Motorsport Network. Also, Investor Mike Zoi reported purchase of 338,983 shares of Motorsport Games at an average price of $2.95 per share in Form 4 Filing.

Shares of Atlas Technical Consultants, Inc. (NASDAQ:ATCX) got a boost, shooting 120% to $12.06 after the company agreed to be acquired by GI Partners for $12.25 per share in cash.

Context Therapeutics Inc. (NASDAQ:CNTX) shares were also up, gaining 53% to $1.0407 after the company announced its clinical trial collaborator, Stemline Therapeutics, received approval from the FDA for ORSERDU in ER+, HER2-, ESR1-mutated breast cancer.

January 27, 2023

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The Centers for Disease Control and Prevention on Friday urged people with weak immune systems to take extra precautions to avoid Covid after the dominant omicron subvariants knocked out a key antibody treatment.

These precautions include wearing a high quality mask and social distancing when it’s not possible to avoid crowded indoor spaces, according to the CDC.

The guidance comes after the Food and Drug Administration on Thursday pulled its authorization of Evusheld, a combination antibody injection that people with weak immune systems took as an additional layer of protection to prevent Covid infection.

The FDA pulled Evusheld because it is not effective against 95% of the omicron subvariants circulating in the U.S. This includes the XBB subvariants which are now causing 64% of new cases, as well as the BQ family that is responsible for 31% of reported infections.

MoffettNathanson analyst Clay Griffin upgrades Take-Two Interactive (NASDAQ:TTWO) from Market Perform to Outperform and announces $140 price target.

Morgan Stanley analyst Michael Ulz upgrades Akero Therapeutics (NASDAQ:AKRO) from Equal-Weight to Overweight and announces $65 price target.

Wedbush analyst Seth Basham upgrades Chewy (NYSE:CHWY) from Neutral to Outperform and raises the price target from $35 to $55.

Credit Suisse analyst A.J. Rice upgrades Premier (NASDAQ:PINC) from Underperform to Neutral and announces $38 price target.

Bernstein analyst Alexia Howard upgrades McCormick & Co (NYSE:MKC) from Market Perform to Outperform and announces $90 price target.

BuzzFeed, Inc. (NASDAQ:BZFD) shares shot up 36% to $2.8404, gaining for the second day, after reports surfaced about its deal with Facebook parent Meta Platforms Inc yesterday.

Shares of Inozyme Pharma, Inc. (NASDAQ:INZY) got a boost, shooting 15% to $2.42.

MicroCloud Hologram Inc. (NASDAQ:HOLO) shares were also up, gaining 18% to $10.40. MicroCloud Hologram, on Thursday, announced the launch of a Holographic Brain-Computer Interface(BCI) data acquisition system.

January 26, 2023

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Intel shares slid by as much as 9% in extended trading on Thursday after the chipmaker issued fourth-quarter results that failed to meet analysts’ estimates and gave a weaker-than-expected forecast.

Intel’s revenue declined 32% year over year in the quarter that ended Dec. 31, according to a statement. It’s the fourth consecutive quarter of falling sales as the market for personal computers retreats from the Covid boom.

The company recorded a $664 net loss, compared with a profit of $4.62 billion in the year-ago quarter.

Intel declined to provide a full-year forecast because of “the uncertainty in the current environment,” CEO Pat Gelsinger said on a conference call with analysts. For at least the first half of the year, Intel will deal with “persistent economic headwinds,” the company said in a presentation on its results.

According to Northcoast Research, the prior rating for ManpowerGroup Inc (NYSE:MAN) was changed from Buy to Neutral. ManpowerGroup earned $2.21 in the third quarter, compared to $1.93 in the year-ago quarter. The stock has a 52-week-high of $115.54 and a 52-week-low of $64.00. At the end of the last trading period, ManpowerGroup closed at $88.61.

According to Deutsche Bank, the prior rating for Union Pacific Corp (NYSE:UNP) was changed from Buy to Hold. Union Pacific earned $2.67 in the fourth quarter, compared to $2.66 in the year-ago quarter. The stock has a 52-week-high of $278.94 and a 52-week-low of $183.70. At the end of the last trading period, Union Pacific closed at $200.12.

According to Keefe, Bruyette & Woods, the prior rating for Popular Inc (NASDAQ:BPOP) was changed from Outperform to Market Perform. Popular earned $2.62 in the fourth quarter, compared to $2.58 in the year-ago quarter. The current stock performance of Popular shows a 52-week-high of $95.28 and a 52-week-low of $62.55. Moreover, at the end of the last trading period, the closing price was at $66.16.

According to Tigress Financial, the prior rating for Walmart Inc (NYSE:WMT) was changed from Neutral to Buy. In the third quarter, Walmart showed an EPS of $1.50, compared to $1.45 from the year-ago quarter. The current stock performance of Walmart shows a 52-week-high of $160.77 and a 52-week-low of $117.27. Moreover, at the end of the last trading period, the closing price was at $142.34.

For Norfolk Southern Corp (NYSE:NSC), Deutsche Bank upgraded the previous rating of Hold to Buy. For the fourth quarter, Norfolk Southern had an EPS of $3.42, compared to year-ago quarter EPS of $3.12. At the moment, the stock has a 52-week-high of $291.55 and a 52-week-low of $203.65. Norfolk Southern closed at $242.97 at the end of the last trading period.

For FibroGen Inc (NASDAQ:FGEN), Raymond James upgraded the previous rating of Market Perform to Outperform. In the third quarter, FibroGen showed an EPS of $0.98, compared to $0.54 from the year-ago quarter. The stock has a 52-week-high of $21.30 and a 52-week-low of $7.81. At the end of the last trading period, FibroGen closed at $20.65.

January 24, 2023

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Business weakened in December, including in growth of consumption of Azure cloud services, Amy Hood, Microsoft’s finance chief, said on the call. During that month growth in new business was lower than management had expected for Microsoft 365 productivity software subscriptions, Windows Commercial products and Enterprise Mobility and Security offerings, Hood said.

“In our commercial business we expect business trends that we saw at the end of December to continue into Q3,” she said.

Revenue in Microsoft’s Intelligent Cloud segment amounted to $21.51 billion, up 18% and slightly above the $21.44 billion consensus among analysts polled by StreetAccount. The unit includes the Azure public cloud, Windows Server, SQL Server, Nuance and Enterprise Services. Revenue from Azure and other cloud services, which Microsoft does not report in dollars, grew by 31%, slightly above the estimate of just under 31% that analysts polled by CNBC and StreetAccount had expected. In the previous quarter, the category grew 35%.

For Dine Brands Global Inc (NYSE:DIN), Raymond James downgraded the previous rating of Outperform to Market Perform. For the third quarter, Dine Brands Global had an EPS of $1.66, compared to year-ago quarter EPS of $1.55. At the moment, the stock has a 52-week-high of $84.14 and a 52-week-low of $61.02. Dine Brands Global closed at $79.11 at the end of the last trading period.

Raymond James downgraded the previous rating for Cheesecake Factory Inc (NASDAQ:CAKE) from Outperform to Market Perform. In the third quarter, Cheesecake Factory showed an EPS of $0.03, compared to $0.65 from the year-ago quarter. At the moment, the stock has a 52-week-high of $44.65 and a 52-week-low of $26.05. Cheesecake Factory closed at $40.93 at the end of the last trading period.

According to Atlantic Equities, the prior rating for Vulcan Materials Co (NYSE:VMC) was changed from Overweight to Neutral. Vulcan Materials earned $1.78 in the third quarter, compared to $1.54 in the year-ago quarter. The stock has a 52-week-high of $193.31 and a 52-week-low of $137.54. At the end of the last trading period, Vulcan Materials closed at $179.45.


 

UBS upgraded the previous rating for The Chemours Co (NYSE:CC) from Neutral to Buy. In the third quarter, Chemours showed an EPS of $1.24, compared to $1.27 from the year-ago quarter. The current stock performance of Chemours shows a 52-week-high of $44.95 and a 52-week-low of $22.56. Moreover, at the end of the last trading period, the closing price was at $33.92.

For Blackstone Inc (NYSE:BX), JP Morgan upgraded the previous rating of Neutral to Overweight. For the third quarter, Blackstone had an EPS of $1.06, compared to year-ago quarter EPS of $1.28. The stock has a 52-week-high of $138.95 and a 52-week-low of $71.72. At the end of the last trading period, Blackstone closed at $87.83.

For Lyft Inc (NASDAQ:LYFT), Keybanc upgraded the previous rating of Sector Weight to Overweight. Lyft earned $0.10 in the third quarter, compared to $0.05 in the year-ago quarter. The current stock performance of Lyft shows a 52-week-high of $45.65 and a 52-week-low of $9.66. Moreover, at the end of the last trading period, the closing price was at $15.41.

January 23, 2023

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Spotify — Spotify gained 2.07% after the company sent an internal memo to staff on Monday announcing plans to lay off 6% of its global workforce, or about 600 employees. Spotify CEO Daniel Ek admitted the streaming giant was “too ambitious in investing ahead of our revenue growth.”

Apple – Apple shares rose 2.35%, as China’s reopening gave hope to investors that it would give the tech and electronics business a lift. Morgan Stanley called the stock a top pick, saying the reopening has “important implications” for demand as well as supply.

Salesforce — Salesforce shares advanced 3.05% following news that activist investor Elliot Management has reportedly made a multibillion-dollar investment in the company. The announcement comes a few weeks after Salesforce announced it would cut 10% of its staff and close some offices.

For PPG Industries Inc (NYSE:PPG), Exane BNP Paribas downgraded the previous rating of Outperform to Neutral. PPG Indus earned $1.22 in the fourth quarter, compared to $1.26 in the year-ago quarter. The stock has a 52-week-high of $162.78 and a 52-week-low of $107.06. At the end of the last trading period, PPG Indus closed at $131.00.

Guggenheim downgraded the previous rating for NorthWestern Corp (NASDAQ:NWE) from Neutral to Sell. NorthWestern earned $0.42 in the third quarter, compared to $0.65 in the year-ago quarter. At the moment, the stock has a 52-week-high of $63.06 and a 52-week-low of $48.68. NorthWestern closed at $55.66 at the end of the last trading period.

For OGE Energy Corp (NYSE:OGE), Guggenheim downgraded the previous rating of Buy to Neutral. For the third quarter, OGE Energy had an EPS of $1.31, compared to year-ago quarter EPS of $1.26. The current stock performance of OGE Energy shows a 52-week-high of $42.91 and a 52-week-low of $33.28. Moreover, at the end of the last trading period, the closing price was at $38.36.


 

B of A Securities upgraded the previous rating for Wayfair Inc (NYSE:W) from Underperform to Buy. In the third quarter, Wayfair showed an EPS of $2.11, compared to $0.14 from the year-ago quarter. The current stock performance of Wayfair shows a 52-week-high of $163.99 and a 52-week-low of $28.11. Moreover, at the end of the last trading period, the closing price was at $46.79.

According to B of A Securities, the prior rating for Coca-Cola Femsa SAB de CV (NYSE:KOF) was changed from Neutral to Buy. Coca-Cola Femsa earned $1.03 in the third quarter, compared to $0.81 in the year-ago quarter. At the moment, the stock has a 52-week-high of $72.99 and a 52-week-low of $50.21. Coca-Cola Femsa closed at $70.81 at the end of the last trading period.

According to Barclays, the prior rating for Skyworks Solutions Inc (NASDAQ:SWKS) was changed from Equal-Weight to Overweight. In the fourth quarter, Skyworks Solutions showed an EPS of $3.02, compared to $2.62 from the year-ago quarter. The stock has a 52-week-high of $148.82 and a 52-week-low of $76.16. At the end of the last trading period, Skyworks Solutions closed at $103.06.

January 20, 2023

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Stocks rallied on Friday to finish the week strong after briefly losing the momentum of the January rally.

The Dow Jones Industrial Average added 330.93 points, or 1%, to close at 33,375.49, while the S&P 500 advanced 1.89% to 3,972.61. Both indexes snapped a three-day losing streak. Meanwhile, the Nasdaq Composite rose 2.66%, with help from Netflix and Alphabet, to end the day at 11,140.43.

The Nasdaq was also the outperformer for the week, posting a 0.55% gain and its third positive week in a row. The Dow finished the week lower by 2.70%, and the S&P posted a 0.66% loss, both breaking two-week win streaks.

For the week, the Dow finished lower by 2.7% and the S&P posted a 0.66% loss. The Nasdaq gained 0.55%.

Cowen & Co. downgraded the previous rating for Salesforce Inc (NYSE:CRM) from Outperform to Market Perform. In the third quarter, Salesforce showed an EPS of $1.40, compared to $1.27 from the year-ago quarter. The current stock performance of Salesforce shows a 52-week-high of $234.49 and a 52-week-low of $126.34. Moreover, at the end of the last trading period, the closing price was at $146.41.

According to MKM Partners, the prior rating for Pinterest Inc (NYSE:PINS) was changed from Buy to Neutral. For the third quarter, Pinterest had an EPS of $0.11, compared to year-ago quarter EPS of $0.28. At the moment, the stock has a 52-week-high of $33.79 and a 52-week-low of $16.14. Pinterest closed at $26.77 at the end of the last trading period.

Morgan Stanley downgraded the previous rating for Domo Inc (NASDAQ:DOMO) from Overweight to Equal-Weight. For the third quarter, Domo had an EPS of $0.13, compared to year-ago quarter EPS of $0.32. The current stock performance of Domo shows a 52-week-high of $57.41 and a 52-week-low of $12.07. Moreover, at the end of the last trading period, the closing price was at $12.87.



 

For PVH Corp (NYSE:PVH), Barclays upgraded the previous rating of Equal-Weight to Overweight. In the third quarter, PVH showed an EPS of $2.60, compared to $2.67 from the year-ago quarter. The stock has a 52-week-high of $105.43 and a 52-week-low of $43.49. At the end of the last trading period, PVH closed at $83.28.

Barclays upgraded the previous rating for Ralph Lauren Corp (NYSE:RL) from Equal-Weight to Overweight. Ralph Lauren earned $2.23 in the second quarter, compared to $2.62 in the year-ago quarter. The stock has a 52-week-high of $135.99 and a 52-week-low of $82.23. At the end of the last trading period, Ralph Lauren closed at $117.34.

For Restaurant Brands International Inc (NYSE:QSR), BMO Capital upgraded the previous rating of Market Perform to Outperform. In the third quarter, Restaurant Brands Intl showed an EPS of $0.96, compared to $0.76 from the year-ago quarter. At the moment, the stock has a 52-week-high of $68.54 and a 52-week-low of $46.68. Restaurant Brands Intl closed at $65.59 at the end of the last trading period.

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