Equity Residential (EQR) shares were over 1% lower in Friday trading after Piper Sandler downgraded the stock to neutral from overweight, and lowered its price target to $72 from $78.
Trading volume stood at more than 1.5 million shares, compared with a daily average of about 2.6 million.
Price: $65.49, Change: $-0.78, Percent Change: -1.17%
Universal Music's board has rejected Pershing Square's (PS) takeover proposal after determining that the offer undervalued the company and would not deliver superior value creation, the music company said Friday.Pershing Square declined to comment to.Price: $38.92, Change: $+0.31, Percent Change: +0.79%
(Updates with the company's response in the third paragraph.)Amazon.com (AMZN) has shut down an internal leaderboard tracking AI tool usage after some employees tried to boost their scores through unnecessary activity that increased the company's computing costs, the Financial Times reported Friday, citing two people familiar with the matter.Dave Treadwell, an Amazon senior vice-president, told staff the leaderboard had been created with "good intentions," but led to additional costs as employees engaged in "tokenmaxxing," or inflating their consumption of AI tokens, according to the report.An Amazon spokesperson toldin an emailed response that the internal dashboard was created by a group of employees to drive awareness about how AI can accelerate work and since then has been deprecated.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $270.53, Change: $-3.47, Percent Change: -1.27%
Sempra (SRE) is being urged by activist investor Voss Capital to spin off its Oncor electricity unit, Reuters said Thursday, citing sources familiar with the matter and a letter seen by the media outlet.Voss Capital, which owns less than 1% of Sempra, has argued that a newly independent Oncor Electric Delivery Company would become the highest-growth public transmission utility in the US and could be worth up to $78 billion by the end of 2028, the report said.With Sempra controlling about 80% of Oncor, its stake would be worth more than Sempra's current market value as a combined company, Voss said, according to Reuters.Sempra did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $89.01, Change: $-1.03, Percent Change: -1.14%