Check out the companies making headlines in midday trading: Victoria’s Secret — Shares dropped 3.5% after Goldman Sachs initiated coverage of the stock with a sell rating, saying it sees a “tough macro and ongoing competitive pressure” for the lingerie company in the near term. Longer term, the firm is constructive on the company’s loyalty initiatives and renewed merchandise focus. Meta Platforms — The Facebook parent company plunged more than 11%. Meta reported lighter-than-expected second-quarter revenue guidance on Wednesday, and CEO Mark Zuckerberg spoke about spending in areas such as artificial intelligence and mixed reality that are not currently profitable. Meta’s first-quarter earnings and revenue both came above analysts’ estimates, however. Tech stocks — Shares of major tech giants dropped on Thursday as Meta’s lackluster revenue outlook led to declines across the sector. Microsoft and Alphabet shares dropped roughly 3% and 2%, respectively, ahead of their earnings due after the bell. Amazon ‘s stock price shed 2%. Monster Beverage — JPMorgan downgraded Monster Beverage to neutral from overweight due to “cost pressure,” pushing shares roughly 3% lower. Honeywell — Shares of the industrial company declined 1.5% after it reiterated its full-year guidance. Honeywell posted adjusted earnings per share of $2.25, beating analysts’ estimates of $2.17 per share, per LSEG. Revenue for the quarter also came in better than expected at $9.11 billion, com …
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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines in midday trading: Victoria’s Secret — Shares dropped 3.5% after Goldman Sachs initiated coverage of the stock with a sell rating, saying it sees a “tough macro and ongoing competitive pressure” for the lingerie company in the near term. Longer term, the firm is constructive on the company’s loyalty initiatives and renewed merchandise focus. Meta Platforms — The Facebook parent company plunged more than 11%. Meta reported lighter-than-expected second-quarter revenue guidance on Wednesday, and CEO Mark Zuckerberg spoke about spending in areas such as artificial intelligence and mixed reality that are not currently profitable. Meta’s first-quarter earnings and revenue both came above analysts’ estimates, however. Tech stocks — Shares of major tech giants dropped on Thursday as Meta’s lackluster revenue outlook led to declines across the sector. Microsoft and Alphabet shares dropped roughly 3% and 2%, respectively, ahead of their earnings due after the bell. Amazon ‘s stock price shed 2%. Monster Beverage — JPMorgan downgraded Monster Beverage to neutral from overweight due to “cost pressure,” pushing shares roughly 3% lower. Honeywell — Shares of the industrial company declined 1.5% after it reiterated its full-year guidance. Honeywell posted adjusted earnings per share of $2.25, beating analysts’ estimates of $2.17 per share, per LSEG. Revenue for the quarter also came in better than expected at $9.11 billion, com …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
