Check out the companies making headlines before the bell. Hershey — The chocolate maker fell 1% after Morgan Stanley downgraded shares to underweight from equal weight. The bank cited weak consumer demand and high cocoa inflation weighing upon margins. Rocket Lab — The stock rose around 1% after Citi reinstated coverage with a buy rating. Rocket Lab’s liquidity conditions have improved, according to Citi. A recent $515 million award by the Space Development Agency also suggests rising traction with the U.S. government, analyst Jason Gursky said. Teva Pharmaceutical Industries — Shares jumped 3% following an upgrade by Piper Sandler to overweight from neutral. Teva’s brand portfolio and improving capital structure makes it well-positioned for multiple recovery and expansion, per Piper Sandler. Lowe’s — The home improvement retailer added 1.7% after JPMorgan raised its rating on shares to overweight from neutral. Expected rate cuts from the Federal Reserve later this year will lower mortgage rates — and provide a boost to Lowe’s, the bank said. XPO — Shares of the shipping company slipped 2.4% following a downgrade by Morgan Stanley to underweight from equal weight. The bank said optimism around XPO’s purchase of bankrupt Yellow Corp’s service centers in December may be inflated. Urban Outfitters — Shares rose more than 2% after an upgrade from UBS ahead of the retailer’s fourth-quarter earnings release slated for this mon …
Article Attribution | Read More at Article Source
[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines before the bell. Hershey — The chocolate maker fell 1% after Morgan Stanley downgraded shares to underweight from equal weight. The bank cited weak consumer demand and high cocoa inflation weighing upon margins. Rocket Lab — The stock rose around 1% after Citi reinstated coverage with a buy rating. Rocket Lab’s liquidity conditions have improved, according to Citi. A recent $515 million award by the Space Development Agency also suggests rising traction with the U.S. government, analyst Jason Gursky said. Teva Pharmaceutical Industries — Shares jumped 3% following an upgrade by Piper Sandler to overweight from neutral. Teva’s brand portfolio and improving capital structure makes it well-positioned for multiple recovery and expansion, per Piper Sandler. Lowe’s — The home improvement retailer added 1.7% after JPMorgan raised its rating on shares to overweight from neutral. Expected rate cuts from the Federal Reserve later this year will lower mortgage rates — and provide a boost to Lowe’s, the bank said. XPO — Shares of the shipping company slipped 2.4% following a downgrade by Morgan Stanley to underweight from equal weight. The bank said optimism around XPO’s purchase of bankrupt Yellow Corp’s service centers in December may be inflated. Urban Outfitters — Shares rose more than 2% after an upgrade from UBS ahead of the retailer’s fourth-quarter earnings release slated for this mon …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
