Welcome to Extreme Investor Network, where we provide you with all the latest updates on the companies making headlines in the world of finance. Today, we are diving into the midday trading action and highlighting some key movers and shakers in the market.
Hertz Global, the car rental company, saw a 4% drop after being downgraded to sell by Goldman Sachs. Investors may not have fully priced in some near-term pressures according to the bank.
On the flip side, Zeta Global, a software stock, surged 17% after Morgan Stanley upgraded it to an overweight rating. The bank cited positive revisions to valuation and estimates, pointing to Zeta’s near-term catalysts and strong track record.
Levi Strauss, the apparel company, saw its shares rally 16% after beating first-quarter expectations and raising its profit guidance for the full year. Likewise, Conagra Brands climbed 5% after exceeding analysts’ estimates for its fiscal third-quarter earnings and revenue.
In other news, Alaska Air Group gained 5% after receiving $160 million in compensation from Boeing due to the grounding of the 737 Max 9. And HubSpot saw its shares soar nearly 10% after reports that Alphabet was in talks to make an offer for the marketing software company.
But perhaps the most interesting move of the day was Solventum, a health-care stock that rose 4.5%. Solventum was recently spun off from 3M and saw its first positive trading day since its debut.
Overall, it’s been a mixed day in the market with some companies facing downgrades while others are basking in the glow of positive news and strong performances. Stay tuned to Extreme Investor Network for more updates on the latest market movements and trends.