Apple, Amazon, American Airlines Fall Premarket; Bed Bath&Beyond Rises

Rivian Releases 3Q Production Totals, Sending Shares Higher

October 3, 2022 5:09 PM EDT

(Updated - October 3, 2022 5:11 PM EDT)

American electric vehicle maker, Rivian (NASDAQ: RIVN) announced production totals for the 3Q ending September 30, 2022. The company produced 7,363 vehicles at its manufacturing facility in Normal, Illinois and delivered 6,584 vehicles during the same period. This compares to the... More

Amazon (AMZN) Price Target and Estimates Cut as Macro Pressures Grow - BofA

October 3, 2022 1:56 PM EDT

Amazon (NASDAQ: AMZN) estimates and its price target was cut at BofA by analyst Justin Post in a research note on Monday.

Post told investors the firm has cut its price target on the technology giant to $157 from $170 based, maintaining a Buy rating on the stock.

The analyst stated that macro pressures are growing. As a... More

UBS Updates Global Auto Model on Weak Macro Data: 'Goodbye Auto Production Recovery'

September 30, 2022 7:24 AM EDT

UBS Research updated its global auto model as they believe falling demand will keep 2023 production flat compared to last year.

Analyst, Patrick Hummel wrote in a note that it is overwhelmingly likely that rapidly weakening macro data have a severe negative impact on auto demand in 2023, in all... More

Rite-Aid (RAD) PT Lowered to $4.50 at Evercore ISI, Removes from Tactical Outperform List

September 30, 2022 2:47 AM EDT

Evercore ISI analyst Elizabeth Anderson lowered the price target on Rite-Aid (NYSE: RAD) to $4.50 (from $7.00) while maintaining a Underperform rating.

Removed from Tactical Outperform List"...we are lowering our price target to $4.50 and removing our TAP Outperform call as we... More

JPMorgan on CarMax (KMX): 'Expect a Strong Negative Reaction'

September 29, 2022 10:59 AM EDT

JPMorgan analyst Rajat Gupta reiterated a Neutral rating and {REMOVEPT} price target on CarMax (NYSE: KMX)

The analyst comments "Expect a strong negative reaction. $0.79 vs JPM $1.37 vs buy-side around ~$1.25. Broad miss across all key metrics including unit growth, SG&A leverage,... More

Evercore ISI Stays Sidelined on CarMax (KMX) Noting Tough Industry Backdrop

September 29, 2022 10:44 AM EDT

Evercore ISI analyst Michael Montani reiterated an In Line rating and $90.00 price target on CarMax (NYSE: KMX).

The analyst comments "CarMax is winning market share amidst a tough industry backdrop. It is not buying volume. CarMax retail used unit comps of -8.3% YoY (-6.4% units) was less negative than the -12% YoY F1Q drop (stimulus cycle... More

Morgan Stanley on CarMax (KMX): 'The story of KMX's 2Q is clear: demand destruction'

September 29, 2022 10:43 AM EDT

Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $124.00 price target on CarMax (NYSE: KMX).

The analyst comments "Same store volume down 8.3% YoY, following last quarter's -12.7% YoY, is similar to 2020 levels of unit volume decline and could be a... More

BofA Says Sluggish iPhone Demand Has Wide Implications for Chip Vendors

September 29, 2022 10:07 AM EDT

In a note Thursday, BofA analyst Vivek Arya said sluggish iPhone demand has broad implications for chipmakers, although they are modest.

The analyst was speaking following reports Wednesday that tech giant Apple (NASDAQ: AAPL) was ditching plans to boost production of its... More