Investing.com -- In a note to clients on Tuesday, Macquarie upgraded Peloton (NASDAQ: PTON) to Outperform from Neutral and raised its price target to $10 from $9 after a stronger-than-expected fiscal third quarter and an improved full-year outlook.
“Another quarter ahead of guidance and market expectations on sustained margin focus and better user numbers,” Macquarie wrote, pointing to Peloton’s continued turnaround progress.
Third-quarter revenue reached $624 million,... (continue reading...)
Investing.com -- Microsoft Corporation (NASDAQ: MSFT) will lay off approximately 3% of its global workforce as part of a broader organizational realignment, the company confirmed Tuesday. The cuts will affect employees across all levels, teams, and regions, according to a report by CNBC.
With 228,000 employees worldwide as of June, the move is expected to impact thousands of workers. It marks Microsoft’s largest job reduction since it cut 10,000 roles in 2023.
“We... (continue reading...)
Investing.com - UnitedHealth (NYSE: UNH) has suspended its full-year financial forecast due to a bigger-than-anticipated spike in medical costs, while CEO Andrew Witty has decided to step down from the helm of the company.
Shares in UnitedHealth tumbled by more than 14% as of 10:40AM ET. The stock is down 36% year-to-date.
In a statement, UnitedHealth said Witty’s departure was due to personal reasons. Stephen Hemsley was appointed as Witty’s successor, effective... (continue reading...)
Investing.com -- Baird upgraded Caterpillar (NYSE: CAT) to Outperform with a $395 price target on Tuesday, pointing to improving fundamentals, easing trade tensions, and signs of a potential earnings recovery beginning in late 2025.
“[The] fundamental setup for CAT is improving as 2025 is likely to mark a near-term EPS trough,” Baird analysts wrote, noting that despite an expected 18% earnings decline this year, conditions are emerging for a rebound in 2026 and beyond.
Investig.com -- Global online broker eToro Group Ltd (NASDAQ:ETOR) is set to price its IPO tonight, with the stock set to debut on Wednesday, May 14th. Shares will trade on the NASDAQ under the symbol “ETOR.”
The company has been looking to price 10 million shares between $46 and $50 per share, raising up to $500 million. According to recent reports, the IPO is 10 times oversubscribed, so a pricing above the IPO range should not be unexpected.
The company is selling 5... (continue reading...)
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