Check out the companies making headlines before the bell. Ulta — The beauty chain slipped more than 1% following a downgrade to hold from buy at Jefferies. Analyst Ashley Helgans cited mounting pressure from competitor Sephora as well as a “lack of newness” as two reasons for the change. Netflix — Shares slid nearly 6% after the video streaming platform shared a weaker full-year revenue growth outlook than consensus had expected and said it would no longer report quarterly subscriber gains going forward. Despite this, Netflix posted a first-quarter earnings and revenue beat . Shopify — The Canada-based e-commerce stock jumped 3%. Morgan Stanley upgraded Shopify to an overweight rating, citing confidence in the company’s growth potential and operating leverage upside. First Solar — Shares gained 1.5% after Wells Fargo upgraded shares to overweight. The firm cited several upside catalysts, including the expectation that the Biden Administration will revoke tariff exemptions and potential trade restrictions on Chinese panels. Sunnova Energy — The stock slipped nearly 4% after a Wells Fargo downgrade to equal weight. The bank thinks that a higher-for-longer rate environment will be particularly detrimental for Sunnova’s upcoming debt maturities and tight liquidity. SLB — The energy stock dipped 1.7% despite a first-quarter report that was largely in line with expectations. SLB reported 75 cents in adjusted earnings per shar …
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. Ulta — The beauty chain slipped more than 1% following a downgrade to hold from buy at Jefferies. Analyst Ashley Helgans cited mounting pressure from competitor Sephora as well as a “lack of newness” as two reasons for the change. Netflix — Shares slid nearly 6% after the video streaming platform shared a weaker full-year revenue growth outlook than consensus had expected and said it would no longer report quarterly subscriber gains going forward. Despite this, Netflix posted a first-quarter earnings and revenue beat . Shopify — The Canada-based e-commerce stock jumped 3%. Morgan Stanley upgraded Shopify to an overweight rating, citing confidence in the company’s growth potential and operating leverage upside. First Solar — Shares gained 1.5% after Wells Fargo upgraded shares to overweight. The firm cited several upside catalysts, including the expectation that the Biden Administration will revoke tariff exemptions and potential trade restrictions on Chinese panels. Sunnova Energy — The stock slipped nearly 4% after a Wells Fargo downgrade to equal weight. The bank thinks that a higher-for-longer rate environment will be particularly detrimental for Sunnova’s upcoming debt maturities and tight liquidity. SLB — The energy stock dipped 1.7% despite a first-quarter report that was largely in line with expectations. SLB reported 75 cents in adjusted earnings per shar …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
