Movers & Shakers: Paramount Global and Netflix stock boosted by possible end to writer’s strike as Nike shares slip on downgrade

by | Sep 25, 2023 | Stock Market

Here are some of the biggest movers of the day: Stock gainers: Paramount Global
stock rose 3% and Netflix shares
rose 1%, as the Writers Guild of America said a tentative deal has been reached to end the screenwriters strike after nearly five months.

AstraZeneca stock
rose 1% as Jefferies upgraded the U.K. drugmaker to buy from hold, saying R&D assets outside oncology are being largely ignored, Morgan Stanley separately said investors will reward earnings upgrade stories in AstraZeneca, Novo Nordisk
and Novartis
the latter of which it upgraded to equal-weight from underweight. Stock decliners: Foot Locker shares
fell 3% as Jefferies downgraded the athletics apparel retailer, and Urban Outfitters
to hold from buy, citing its own survey of U.S. consumers that found the repayment of student debt will curtail consumer spending. Nike shares
fell 1% as Jefferies also downgraded it to hold from buy, saying the wholesale channel is likely to remain pressured and growth in China faces macro headwinds.

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