Welcome to Extreme Investor Network, where we provide you with the latest updates on companies making headlines in the world of finance. Today, we’re taking a closer look at some key stock movements before the bell.
Hertz Global made waves as the car rental stock slid nearly 5% following a downgrade to sell from neutral at Goldman Sachs. This move comes as analyst Lizzie Dove believes that investors have yet to fully price in some near-term pressures for the company.
Meanwhile, financial services platform Block saw its shares slip 3% after a downgrade to underweight from equal-weight at Morgan Stanley. The firm cited “high market penetration and limited additional opportunity” as reasons for the change.
On a more positive note, Zeta Global experienced a 5% surge after Morgan Stanley upgraded the software firm to an overweight rating from equal-weight. The bank expects positive revisions to valuation and estimates going forward, highlighting Zeta’s near-term catalysts and strong track record of prudent guidance.
In the e-commerce space, Wayfair rose nearly 5% following an Evercore ISI upgrade to outperform from in line. The firm sees potential for Wayfair to gain market share amid a recovery in the home furnishing space.
Levi Strauss also had a strong showing, with shares jumping 8% after beating first-quarter expectations on both the top and bottom lines. The company also lifted its full-year profit guidance, posting adjusted earnings of 26 cents per share on $1.56 billion in revenue.
Additionally, Conagra Brands saw shares rise more than 4% after reporting a fiscal third-quarter earnings and revenue beat. The company reported earnings of 69 cents per share on revenue of $3.03 billion, surpassing FactSet’s estimates.
Looking ahead, French fry producer Lamb Weston is set to release its latest quarterly results, with analysts anticipating third-quarter revenue of $1.65 billion.
Lastly, in the space sector, Intuitive Machines saw a nearly 11% surge after winning a NASA contract for $30 million to build a lunar terrain vehicle as part of NASA’s Artemis moon exploration campaign.
Stay tuned for more updates on these companies and others in the world of finance. At Extreme Investor Network, we provide you with unique insights and analysis to help you make informed investment decisions. Check back for more expert commentary and exclusive content.
