Tech and Pharma Rally: Top Gainers with Upgraded Forecasts and Ratings

1. 3mmpany (NYSE: MMM)
3mmpany surged by 22.97%. 3M reported Q2 2024 net sales of $6.255 billion, a 0.5% decline year-over-year, with adjusted sales of $6.019 billion and organic growth of 1.2%. Adjusted EPS forecast for 2024 was raised to $7.00-$7.30. CFO Monish Patolawala resigned post CEO transition.

2. Chartermmunications (Nasdaq: CHTR)
Chartermmunications surged by 16.62%. Charter Communications reported its second-quarter fiscal 2024 results on July 26, 2024. Morgan Stanley maintained an equal-weight rating and raised its price target to $330.00, while Citigroup downgraded to sell with a target of $255.00. Liberty Broadband Corp sold 139,200 shares on July 16, 2024.

3. Bristol-Myers Squibbmpany (NYSE: BMY)
Bristol-Myers Squibbmpany surged by 11.33%. Bristol-Myers Squibb reported second-quarter fiscal 2024 results, showing an 8.9% year-over-year revenue increase to $12.2 billion, surpassing expectations by $680 million. The company also raised its full-year profit guidance due to strong demand for new drugs.

4. Norfolk Southern (NYSE: NSC)
Norfolk Southern surged by 10.88%. Susquehanna maintains a Neutral rating on Norfolk Southern, with a target price of $255.00. Norfolk Southern announces a cash dividend of $1.3500 per share. Stifel maintains a Hold rating with a target price of $239.00. Bernstein maintains an Outperform rating, lowering the target price to $285.00.

5. Microstrategy Incorporated (Nasdaq: MSTR)
Microstrategy Incorporated surged by 9.1%. Maxim Group initiated coverage on Microstrategy with a Buy rating and a $1835 price target. Canaccord Genuity maintained a Buy rating, lowering the target to $1826. TD Cowen also maintained a Buy rating, raising the target to $1880. Bernstein initiated coverage with an Outperform rating and a $2890 price target.