icon
icon
icon
icon
Upgrade
icon

Tech Acquisitions and Earnings Boost: Key Stocks on the Rise

AInvestWednesday, Jul 17, 2024 6:30 pm ET
1min read
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.
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.