Tech Acquisitions and Earnings Boost: Key Stocks on the Rise

1. Globalfoundries (Unknown code: GFS)
Globalfoundries surged by 6.82%. Globalfoundries acquired GaN technology and IP from Tagore Technology to enhance efficiency and performance in automotive, IoT, and AI data centers. Cantor Fitzgerald reiterated its Neutral rating with a target price of $55.

2. The Progressive (NYSE: PGR)
The Progressive gained solidly by 5.42%. The Progressive reported Q1 2024 revenue of $17.243 billion, a 20.55% increase year-over-year. B of A Securities maintains a "Buy" rating with a latest target price of $293.00. JP Morgan maintains "Overweight" with a target price of $239.00. Keefe, Bruyette & Woods upgraded to "Outperform" with a target price of $245.00.

3. Bristol-Myers Squibbmpany (NYSE: BMY)
Bristol-Myers Squibbmpany gained solidly by 4.77%. Bristol-Myers Squibb has submitted a new indication application for its PD-1 inhibitor nivolumab in China. Barclays maintains its rating on the company as Equal-Weight with a new price target of $41.00.

4. U.S. Bancorp (NYSE: USB)
U.S. Bancorp gained solidly by 4.55%. U.S. Bancorp will announce its Q2 2024 financial results on July 17. Jefferies maintains a Hold rating, lowering its price target to $42. JP Morgan downgrades to Neutral with a $43.50 target. Evercore ISI rates In-Line, raising the target to $48.

5. Unitedhealth Group Incorporated (NYSE: UNH)
Unitedhealth Group Incorporated gained solidly by 4.43%. UnitedHealth Group reported second-quarter 2024 earnings, with revenue of $1986.51 billion, net income of $32 billion, and EPS of $3.05. Morgan Stanley, Jefferies, and Baird adjusted ratings and targets, with Morgan Stanley at $615, Jefferies at $647, and Baird at $640.