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Veeva Soars While Arm Faces Challenges: Key Market Movers

AInvestThursday, Aug 29, 2024 6:30 pm ET
1min read
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.
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.