Veeva Soars While Arm Faces Challenges: Key Market Movers

1. Veeva Systems (NYSE: VEEV)
Veeva Systems surged by 8.85%. Piper Sandler maintains Overweight on Veeva Systems, raising the target price to $230.00. UBS maintains Neutral rating with a target price of $215.00. Guggenheim maintains Buy rating, setting the target price at $233.00. Veeva Systems reports second-quarter fiscal 2025 results.

2. Canadian Imperial Bank Ofmmerce (NYSE: CM)
Canadian Imperial Bank Ofmmerce gained solidly by 5.5%. Canadian Imperial Bank of Commerce will report Q3 2024 financial results on August 29, 2024. UBS initiated coverage with a neutral rating and a $70 price target. BMO Capital maintains an outperform rating, raising the price target to $77. The declared dividend is $0.6577 per share.

3. Arm Holdings Plc (Nasdaq: ARM)
Arm Holdings Plc gained solidly by 5.28%. Arm Holdings' annual general meeting is scheduled for 2024-09-11. Intel sold its entire stake in Arm Holdings, raising approximately $147 million. Arm Holdings' stocks fell over 2% following Nvidia’s revenue outlook, impacting AI hardware-related shares.

4. Pdd Holdings (Nasdaq: PDD)
Pdd Holdings gained solidly by 4.77%. Pinduoduo is entering a new investment phase, committing $10 billion to support new quality merchants. The company focuses on high-quality growth and aims to enhance agricultural and industrial sectors. Q2 financials highlight sustained efforts to improve merchant efficiency.

5. Ge Vernova (NYSE: GEV)
Ge Vernova gained solidly by 4.35%. William Blair initiated coverage on GE Vernova with an Outperform rating. Morgan Stanley maintained an Overweight rating with a $220 price target. HSBC initiated coverage with a Buy rating and a $215 price target. GE Vernova reported H1 2024 revenue of $15.463 billion.