Israel's benchmark TA 35 index closed down 0.95% on Thursday, weighed down by losses in the communication, banking, and financial sectors. Semiconductor firms were among the session's biggest decliners.
Regulatory filings show significant stock sales by executives at Cloudflare, Warner Bros. Discovery, and Airbnb, often through pre-arranged plans following major stock gains. Meanwhile, insiders at companies like Fulcrum Therapeutics bought shares as their stock traded near 52-week lows.
Lululemon shares declined after Truist Securities downgraded the stock to 'Sell' and sharply cut its price target, citing significant brand pressure and a lack of a clear turnaround strategy.
Shares of the cloud infrastructure provider fell after the company announced a plan to repurchase $500 million in convertible notes, funded by a new stock offering that has raised investor concerns about shareholder dilution.
The workforce solutions provider reported second-quarter results that topped analyst forecasts and issued steady guidance, prompting a short squeeze that sent shares sharply higher in pre-market trading.
Benchmark has initiated coverage on electronic design automation (EDA) leaders Synopsys and Cadence with Buy ratings, citing a powerful growth cycle driven by AI and increasing semiconductor complexity. The firm set a $570 price target for Synopsys and a $450 target for Cadence.
Micron Technology has signed long-term agreements with Qualcomm, Harman, and other automotive parts suppliers to provide memory and storage for AI-powered vehicles. The move aims to stabilize the supply chain amid soaring demand for chips used in advanced driver-assistance systems and digital cockpits.
Shares of the Swedish medical software firm fell sharply after it reported a decline in preliminary Q2 sales and profit, attributing the weakness to postponed contracts in the United States.
Analysts at Baird have identified Corpay, Block, and Mastercard as their leading stock ideas in the payments and financial technology sector, anticipating all three will beat quarterly estimates and raise future guidance.
