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Shares of electricity generation and hydrogen production company Bloom Energy (NYSE:BE) fell 5.5% in the morning session after it received positive commentary from Wall Street analysts, suggesting a possible pullback after a significant rally.
Shares of Adobe Inc rose after reporting upbeat Q3 results. Piper Sandler reiterated an Overweight rating while lowering price target, RBC maintained Outperform rating and target, Stifel reaffirmed Buy rating and target, DA Davidson reiterated Buy rating and target, and JMP Securities maintained Market Outperform rating. Adobe's AI-first ARR exceeded expectations and revenue was driven by strong growth in digital media.
Shares of electricity generation and hydrogen production company Bloom Energy (NYSE:BE) jumped 7.9% in the morning session after RBC Capital Markets significantly raised its price target on the stock, alongside news of the company placing a substantial component order. The investment bank boosted its price target to $75 from $35 while maintaining an "Outperform" rating, signaling strong confidence in the company's outlook.
Shares of research and advisory firm Gartner (NYSE:IT) fell 5.3% in the afternoon session after RBC Capital Markets initiated coverage of the research and advisory firm with a neutral rating, citing concerns over slowing growth and potential disruption from artificial intelligence. In its note, RBC set a price target of $263 and gave the stock a 'Sector Perform' rating, pointing to near-term pressure from weaker technology spending. The bank's analysts also highlighted that contract value growth has moderated and that investors are doubtful about Gartner's ability to reaccelerate growth to double-digit figures by 2027. Furthermore, RBC expressed concern that the rise of generative AI tools could disrupt Gartner's business model and that its seat-based license structure could face pressure as businesses potentially scale back.
The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Jackson Financial (NYSE:JXN) and the rest of the life insurance stocks fared in Q2.
A number of stocks fell in the afternoon session after concerns about the health of the U.S. economy grew following a significant downward revision of job market data.
Shares of ioT solutions provider Samsara (NYSE:IOT) fell 6.7% in the morning session after investors appeared to continue taking profits following the stock's significant rally the previous week.
Expensive stocks often command premium valuations because the market thinks their business models are exceptional.
However, the downside is that high expectations are already baked into their prices, leaving little room for error if they stumble even slightly.
Shares of fast-food chain Jack in the Box (NASDAQ:JACK)
fell 3.5% in the afternoon session after investors reassessed the company's recent weak second-quarter financial results. The company recently reported a 9.8% year-over-year decline in revenue to $333 million, falling short of analyst expectations. The fast-food chain also posted a miss on its same-store sales and EBITDA (a measure of profitability) estimates. Despite an initial rally following the earnings report, some analysis suggested the stock had become overvalued, with predictions that the stock would open lower on Monday. The session's decline appears to reflect a delayed reaction from the market as it prices in the weaker fundamental performance.
Shares of ioT solutions provider Samsara (NYSE:IOT) fell 2.6% in the morning session after investors appeared to take profits after the stock's significant rally the previous week.
Shares of residential solar energy company Sunrun (NASDAQ:RUN) jumped 10.2% in the afternoon session after the stock rebounded following several positive analyst actions and favorable sector-wide news. RBC Capital upgraded the stock to "Outperform" from "Sector Perform," and Wells Fargo raised its price target, with both citing increased clarity on long-term opportunities following recent U.S. Treasury guidance. GLJ Research also upgraded its rating on the company. This guidance appears to be a key factor, with analysts noting it's favorable for the residential solar sector. Adding to the positive sentiment for renewable energy, India announced it was more than halving its goods and services tax on related equipment, including solar panels, from 12% to 5%, shoring up the industry.
Shares of diagnostic company Exact Sciences Corporation (NASDAQ:EXAS)
jumped 6.3% in the afternoon session after extending its positive momentum as RBC Capital Markets raised its price target on the company.
Shares of buy now, pay later company Affirm (NASDAQ:AFRM) jumped 5.6% in the afternoon session after several analysts raised their price targets on the stock following the company's recent strong financial results. Among the firms updating their outlook, Mizuho increased its price target to $108 from $70, while maintaining an Outperform rating. Similarly, UBS raised its target to $85 from $56, keeping a Neutral rating. RBC Capital adjusted its price target upward to $97 from $75, and Stephens lifted its target to $93 from a previous $69. These upward revisions signal growing confidence from Wall Street in the company's financial performance and future prospects.
Shares of life sciences company Avantor (NYSE:AVTR)
fell 2.7% in the afternoon session after RBC Capital Markets lowered its price target on the stock to $16 from $17.
