Bank of America Securities lowered its rating on the Swiss consumer giant to 'Neutral' from 'Buy', pointing to intensifying competition and structural challenges in its key North American pet food business.
Shares of Outlook Therapeutics are surging after the company secured a landmark U.S. Food and Drug Administration approval for its wet AMD treatment, LYTENAVA, and received a subsequent upgrade from investment firm BTIG.
Shares of Sirius XM Holdings rose in pre-market trading after Wells Fargo upgraded the stock, citing a more balanced risk-reward profile ahead of the company's quarterly results.
Bank of America analysts argue that a recent selloff in the semiconductor sector, which has seen the SOX index lag the S&P 500 by 18%, presents an attractive entry point for investors, citing strong long-term fundamentals.
The investment bank lowered its full-year earnings forecast for the theme park operator, citing a significant drop in visitor numbers during the second quarter and the start of the key summer season.
Shares of staffing firm Robert Half gained after BMO Capital upgraded the stock to Outperform, citing a belief that the company's business hit a cyclical bottom in the second quarter.
Bank of America cautions that frequent geopolitical supply shocks are making oil price volatility a key driver of inflation, potentially forcing central banks to rethink their traditional policy of ignoring temporary price spikes.
Germany's construction sector saw sentiment improve for the second consecutive month in July, according to a Jefferies analysis of the Ifo index, though conditions remain below prior levels.
Shares of the Polish convenience retailer plunged after Japan's Seven & i Holdings terminated negotiations for a significant stake, erasing recent gains and compounding pressure from a recent analyst downgrade.
