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Equities

S&P 500 Index Slips Weekly as Health Care, Materials Weigh

The Standard & Poor's 500 index slipped 0.8% this week, led to the downside by the health care and materials sectors.The S&P 500 ended the week at 7,656.98. This is the index's first weekly decline since the week ended Aug. 21. It's now down 0.4% for September but up almost 12% this year.Data released Friday showed US consumer prices rose 0.4% month over month in August, the fastest pace since May and matching expectations. Core inflation, which excludes the more volatile food and energy components, jumped to a four-month high of 0.3%, exceeding market projections for an unchanged 0.2% growth.Expectations for a rate increase at the Federal Reserve's next Federal Open Market Committee meeting, which is set for next week, rose after the inflation report. Bets for the US central bank to increase its benchmark lending rate by 25 basis points next week jumped to 87% Friday from 72% Thursday, according to the CME FedWatch tool.US consumer sentiment weakened in September, while inflation expectations rose, with the year-ahead price growth outlook reaching the highest reading since June, preliminary results of a University of Michigan survey showed Friday.By sector, health care had the largest percentage drop of the week, falling 3.6%, followed by a 2.7% decline in materials. Industrials and utilities shed 1.7% each, financials fell 1.5%, consumer discretionary declined 1.2% and real estate slipped 1.1%. Consumer staples and technology also edged lower.Cooper (COO) led the decliners in health care and also had the largest percentage drop in the overall S&P 500 for the week, tumbling 23% amid weaker-than-expected fiscal Q3 sales. The company also lowered its full-year outlook.Corteva (CTVA) was among the decliners in the materials sector, slipping 4.5%. Chemours (CC), DuPont de Nemours (DD) and Corteva said they have agreed to a $455 million settlement with North Carolina and 11 local entities to resolve PFAS-related claims. Shares of Chemours and DuPont also declined on the week.Just two sectors rose as energy climbed 2% and communication services gained 1.1%.The energy sector's advance came as crude oil futures rose on the week. The White House is mulling ways it can use the Defense Production Act to expand US oil refining capacity, Reuters reported, citing two sources familiar with the plans. Saudi Arabia's Energy Ministry said on Friday its East-West pipeline was shut after multiple attacks, according to media reports.The energy sector's top gainers included Valero Energy (VLO), which rose 5.3%, and APA (APA), which climbed 4.6%.All eyes next week will be on the two-day FOMC meeting set to conclude on Wednesday. Economic data will include August retail sales, pending home sales, industrial production and capacity utilization.

Dow JonesNasdaq CompositeS&P 500$APA$CC$COO$CTVA$DD$VLO
Asia Markets

Update: US Equity Indexes Decline as Treasury Yields Soar Amid Hot Wholesale Inflation Print, Escalation in Iran War Threatens Red Sea Chokepoint

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes fell as crude oil and government bond yields surged after an inflation gauge grew at the fastest pace in three months and an Iran-aligned militia group's threats to an alternative shipping route to the Strait of Hormuz mounted.The Nasdaq Composite declined 0.7% to 26,081.73, the S&P 500 retreated 0.6% to 7,591.70, and the Dow Jones Industrial Average dropped 0.6% to 52,064.10 on Thursday. All sectors except communication services and consumer staples dropped. Materials and utilities led the decliners.The Bureau of Labor Statistics' wholesale price inflation gauge, the Producer Price Index, jumped 5.4% from a year ago in August, above the 5.3% forecast in a Bloomberg-compiled survey, and 4.8% in July. The PPI edged up 0.4% month over month, as expected, following a 0.1% increase in July. The August print is the highest growth rate since May.Core PPI, which excludes volatile food and energy prices, climbed 4.6%, as anticipated, from a year ago, and up from 4.3% in July. Core PPI climbed 0.2%, below July's 0.3% and the 0.3% forecast."Based on the timing of the PPI survey, we expect another rise in September's report, as diesel prices have climbed nearly 60 cents and gasoline prices have risen close to 20 cents during the survey window, which is in the middle of the month," Grace Zwemmer, US economist at Oxford Economics, said in a note.US Treasury yields traded sharply higher across the term structure, with the 10-year yield surging 12.3 basis points to 4.96%, the highest since October 2023.The European Central Bank raised its three key interest rates by 25 basis points on Thursday, as the energy shock caused by the ongoing Middle East war pushed inflation in the euro area above its 2% medium-term target.Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea, according to a report from Reuters. Bab al-Mandeb is a geopolitical chokepoint similar to the Strait of Hormuz linking Asia and Europe via the Suez Canal.If the Houthis impose a stranglehold over the waterway, on the opposite side of the Arabian Peninsula from the Strait of Hormuz, it could give their sponsor Iran a critical advantage in the war with the United States, reducing supplies through a second major transit corridor, the news report said.Saudi Arabia reported to the Organization of the Petroleum Exporting Countries that its crude oil production plunged again last month, down by 1.9 million barrels a day to 6.238 million barrels, the lowest since 1990, as renewed hostilities between the US and Iran squeezed the kingdom's export routes, Bloomberg reported.The front-month US West Texas Intermediate crude oil contract climbed 7.2% to $102.92 per barrel, and global benchmark North Sea Brent rose 6.9% to $108.16 per barrel.Gold futures dropped 2.2% to $4,363.5, and silver futures sank 6.6% to $64.15.In US company news, shares of Cooper Companies (COO) sank almost 15%, the worst performer on the S&P 500, after a fiscal Q3 revenue miss overshadowed its earnings beat, and the company also cut its full-year outlook.Apple (AAPL) rose 3.6%, the Dow's top gainer, as the iPhone manufacturer unveiled its first foldable smartphone on Wednesday.

Dow JonesNasdaq CompositeS&P 500$AAPL$COO
Japan

US Equity Markets End Lower as Crude Oil Surges, Bond Yields Rise

US equity indexes ended lower Thursday after crude oil surged and government bond yields rose.* The Bureau of Labor Statistics' wholesale price inflation gauge, the Producer Price Index, jumped 5.4% in August from a year earlier, above the 5.3% forecast in a Bloomberg survey, and up from 4.8% in July.* Core PPI, which excludes volatile food and energy prices, climbed 4.6% from a year earlier, as expected, and up from 4.3% in July.* Initial jobless claims last week fell to 206,000 from an upwardly revised 207,000 in the previous week, compared with expectations for 205,000 in a Bloomberg poll.* Iran-aligned Houthis seized control of Yemen's port city of Mokha, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea, Reuters reported.* October West Texas Intermediate crude oil rose $6.89 to settle at $102.94 per barrel, while November Brent crude, the global benchmark, was last seen up $7.05 at $108.26.* Cooper Companies (COO) shares fell 15%, the steepest drop on the S&P 500, after the company cut its fiscal 2026 guidance. BofA Securities downgraded the stock to neutral from buy and lowered its price target to $65 from $80.* Apple (AAPL) is apparently prioritizing volume gains over margins with its lower-than-expected pricing on the new iPhones, including its first-ever foldable smartphone, Morgan Stanley said. Apple shares rose 3.6%, the top gainer on the Nasdaq.

Dow JonesNasdaq CompositeS&P 500$AAPL$COO
Update: Equities Fall For Fourth Day as Traders Boost Rate Hike Bets
US Markets

Update: Equities Fall For Fourth Day as Traders Boost Rate Hike Bets

(Updates with market moves at the end of the day, and other changes, if any.)Stocks on Wall Street dropped for the fourth session in a row on Thursday as interest rate traders boosted bets that the Federal Reserve could tighten its monetary policy next week.The Nasdaq Composite declined 0.7% to close at 26,081.72. The Dow Jones Industrial Average and the S&P 500 fell 0.6% each to 52,064.10 and 7,591.70, respectively. Barring communication services and consumer staples, all sectors ended in the red, led by materials.US producer prices rose at the fastest pace in three months in August amid higher fuel costs, official data showed Thursday. Oxford Economics predicted further upward pressure on wholesale costs as domestic diesel prices hit fresh peaks.Markets are now pricing in a 71% probability that the Fed will raise the benchmark lending rate by 25 basis points, up from 61% on Wednesday, according to the CME FedWatch tool. The remaining odds point to another Fed pause.The August consumer price index report is scheduled for release on Friday.West Texas Intermediate crude oil was up 6.9% at $102.65 a barrel in Thursday late-afternoon trade, while Brent surged 6.7% to $107.96.Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern side of the Red Sea, Reuters reported.The Organization of the Petroleum Exporting Countries cut its global oil demand outlook for 2026 on Thursday as high energy prices are expected to weigh on consumption.US Treasury yields jumped, with the two-year rate up 14.4 basis points at 4.57% and the 10-year rate rising 11.4 basis points to 4.95%.Cooper Companies (COO) shares were the worst performer on the S&P 500, down nearly 15%. The medical device manufacturer's fiscal third-quarter results released late Wednesday showed sales missed Wall Street's estimates, overshadowing the earnings beat. It also lowered its full-year outlook.Apple (AAPL) rose 3.6%, the biggest gain on the Dow. The iPhone maker unveiled its first foldable smartphone Wednesday, entering a category currently led by Samsung.Apple is apparently prioritizing volume gains over margins with its lower-than-expected pricing on the new iPhones, Morgan Stanley said in a note.Spot gold lost 1.7% to $4,322.11 per troy ounce, while silver slumped 6.5% to $64.20 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$COO
Sectors

Sector Update: Healthcare Stocks Softer Late Afternoon

Healthcare stocks declined late Thursday afternoon, with the NYSE Healthcare Index shedding 0.3% and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.5%.The iShares Biotechnology ETF (IBB) dropped 1.4%.In corporate news, Cooper (COO) shares fell past 13% after the company cut its fiscal 2026 guidance. Separately, BofA Securities downgraded Cooper to neutral from buy and lowered its price target to $65 from $80. BofA said Cooper could not sell CooperSurgical at an attractive valuation given competition from the Paragard intrauterine device and the fertility litigation settlement.Novartis (NVS) shareholder Artisan Partners called for changes to the Swiss drugmaker's board following two consecutive drug trial setbacks that sent shares tumbling, Reuters reported, citing an interview with Artisan managing director David Samra. Novartis shares were up 0.3%.Orchestra BioMed (OBIO) shares rose past 7% after BTIG upgraded the stock the stock to buy from neutral, with a price target of $10.BioCryst Pharmaceuticals' (BCRX) Ordaleyo faces competitive pressure in the hereditary angioedema treatment space, and its shares are expected to settle within an in-line trading range in the near term, RBC Capital Markets said in a note. RBC downgraded the company's stock rating to sector-perform from outperform and reduced the price target to $11 from $13. BioCryst shares fell 6%.

$BCRX$COO$NVS$OBIO
Wire

Cooper's Decision to Retain CooperSurgical Removes Key Bull Case, UBS Says

Cooper's (COO) "disappointing" Q3 and conclusion of a strategic review to retain CooperSurgical cross out main driver for an upside, UBS Securities said in a note emailed Thursday.The strategic review, launched in December 2025, included an evaluation of CooperSurgical's potential sale, and management ultimately concluded that continued ownership of the business was in shareholders' best interests, the company said Wednesday.Cooper is now shifting focus toward $2 billion to $3 billion of buybacks and cash-flow generation.Cooper's Q3 print reflected stagnant growth across the business and unfavorable contact lens inventory dynamics, which will continue in Q4, UBS said.UBS lowered its 2026 revenue estimate to $4.24 billion from $4.31 billion and EPS estimate to $4.51 from $4.60.UBS maintained its neutral rating and lowered its price target to $66 from $75.Price: $55.14, Change: $-8.34, Percent Change: -13.14%

$COO
Wire

Top Midday Decliners

Cooper Companies (COO) fell 15% amid heavy trading after a fiscal Q3 sales miss overshadowed the company's earnings beat and a full-year outlook cut disappointed investors.Intraday trading volume grew to more than 11.2 million shares from a daily average of about 2.35 million.Skillsoft (SKIL) reported a year-over-year decline in fiscal Q2 adjusted net income and revenue late Wednesday and lowered its fiscal 2027 guidance.Shares slumped 31%, with intraday trading volume rising to over 341,000 from a daily average of about 92,000.Navan (NAVN) shares were down over 22% following its fiscal Q2 results and fiscal 2027 guidance late Wednesday.Trading volume was more than 12.1 million, against a daily average of about 3.9 million.Price: $54.42, Change: $-9.07, Percent Change: -14.28%

$COO$NAVN$SKIL
Update: Equities Drop Intraday as Inflation Fears Mount Amid Surging Oil Prices
US Markets

Update: Equities Drop Intraday as Inflation Fears Mount Amid Surging Oil Prices

(Updates with latest market prices and developments.)Wall Street's main equity indexes were lower intraday as oil prices and bond yields surged amid mounting inflation pressures.The Dow Jones Industrial average was down 0.6% at 52,050.7 after midday Thursday, while the S&P 500 fell 0.5% to 7,597.9. The Nasdaq Composite shed 0.4% to 26,140.2. The indexes closed Wednesday trading in the red for the third consecutive session.Barring consumer staples and communication services, all sectors were in the red on Thursday, led by materials.US producer prices rose at the fastest pace in three months in August amid higher fuel costs, official data showed Thursday. Oxford Economics predicted further upward pressure on wholesale costs as domestic diesel prices hit fresh peaks.US benchmark West Texas Intermediate crude oil was up 6.1% at $101.91 a barrel intraday, while Brent surged 5.9% to $107.20.Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern side of the Red Sea, Reuters reported.The Organization of the Petroleum Exporting Countries cut its global oil demand outlook for 2026 on Thursday as high energy prices are expected to weigh on consumption.US Treasury yields jumped intraday, with the two-year rate up 12.7 basis points at 4.55% and the 10-year rate rising 8.8 basis points to 4.93%.Markets are pricing in a 72% probability that the Federal Reserve will raise the benchmark lending rate by 25 basis points at next week's policy meeting, up from 61% on Wednesday, according to the CME FedWatch tool. The remaining odds point to another Fed pause.Cooper Companies (COO) shares were the worst performer on the S&P 500, down 15%. The medical device manufacturer's fiscal third-quarter results released late Wednesday showed sales missed Wall Street's estimates, overshadowing the earnings beat. It also lowered its full-year outlook.Apple (AAPL) rose 2.9%, the biggest gain on the Dow. The iPhone maker unveiled its first foldable smartphone Wednesday, entering a category currently led by Samsung.Apple is apparently prioritizing volume gains over margins with its lower-than-expected pricing on the new iPhones, Morgan Stanley said in a note.Oracle (ORCL) and Adobe (ADBE) are scheduled to release their quarterly earnings reports after markets close on Thursday.Spot gold nudged down 0.8% to $4,364.40 per troy ounce, while silver slumped 5.4% to $64.97 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$ADBE$COO$ORCL
Wire

Sector Update: Healthcare Stocks Softer in Afternoon Trading

Healthcare stocks declined Thursday afternoon, with the NYSE Healthcare Index shedding 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.4%.The iShares Biotechnology ETF (IBB) dropped 1.2%.In corporate news, Cooper (COO) shares fell past 14% after the company cut its fiscal 2026 guidance. Separately, BofA Securities downgraded Cooper to neutral from buy and lowered its price target to $65 from $80. BofA said Cooper could not sell CooperSurgical at an attractive valuation given competition from the Paragard intrauterine device and the fertility litigation settlement.Novartis (NVS) shareholder Artisan Partners called for changes to the Swiss drugmaker's board following two consecutive drug trial setbacks that sent shares tumbling, Reuters reported, citing an interview with Artisan managing director David Samra. Novartis shares were up 0.4%.BioCryst Pharmaceuticals' (BCRX) Ordaleyo faces competitive pressure in the hereditary angioedema treatment space, and its shares are expected to settle within an in-line trading range in the near term, RBC Capital Markets said in a note. RBC downgraded the company's stock rating to sector-perform from outperform and reduced the price target to $11 from $13. BioCryst shares fell 6.1%.

$BCRX$COO$NVS
Asia Markets

Update: US Equity Indexes Slide as Treasury Yields Surge Amid Hot Producer Prices, Soaring Crude Oil

(Updates with index/price moves, macroeconomic data, comments and company/geopolitical news from the first paragraph.)US equity indexes fell as crude oil and government bond yields soared after an inflation gauge grew at the quickest pace in three months and an Iran-aligned militia group's threat to the alternative shipping route to the Strait of Hormuz escalated.The Nasdaq Composite declined 0.4% to 26,152.3, the S&P 500 retreated 0.4% to 7,602.5, and the Dow Jones Industrial Average dropped 0.5% to 52,096.8 after midday Thursday. All sectors except communication services and consumer staples fell, with materials leading the steepest decliners.The Bureau of Labor Statistics' wholesale price inflation gauge, the Producer Price Index, jumped 5.4% from a year ago in August, above the 5.3% forecast in a Bloomberg-compiled survey, and 4.8% in July. The PPI edged up 0.4% month over month, as expected, following a 0.1% increase in July. The August print is the highest growth rate since May.Core PPI, which excludes the more volatile food and energy prices, climbed 4.6%, as anticipated, from a year ago, and up from 4.3% in July. Core PPI climbed 0.2%, below July's 0.3% and the 0.3% forecast."Based on the timing of the PPI survey, we expect another rise in September's report, as diesel prices have climbed nearly 60 cents and gasoline prices have risen close to 20 cents during the survey window, which is in the middle of the month," Grace Zwemmer, US economist at Oxford Economics, said in a note.US Treasury yields jumped after midday. The two-year soared 11.9 basis points to 4.55%, the highest since mid-2024. The 10-year yield surged 7.4 basis points to 4.91%, its strongest level since late 2023.The European Central Bank raised its three key interest rates by 25 basis points on Thursday, as the energy shock caused by the ongoing Middle East war pushes inflation in the euro area above its 2% medium-term target.In further US economic news, initial jobless claims fell to 206,000 in the week ended Sept. 5 from an upwardly revised 207,000 in the previous week, compared with expectations for 205,000 in a Bloomberg-compiled poll.Meanwhile, Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea and an important shipping route, according to a report from Reuters.Pakistan has delivered a Saudi warning to Iran to rein in its Yemeni Houthi allies, whose move threatens the kingdom's exports through the Red Sea, to prevent the Middle East crisis from spiralling, Saudi, Pakistani and Iranian sources told Reuters.The front-month US West Texas Intermediate crude oil contract catapulted 5.6% to $101.42 per barrel, and global benchmark North Sea Brent shot up 5.5% to $106.79 per barrel.Gold futures dropped 1.4% to $4,400.1, and silver futures sank 5.5% to $64.86.In US company news, shares of Cooper Companies (COO) sank 15%, the worst performer on the S&P 500, after a fiscal Q3 revenue miss overshadowed its earnings beat, and the company also cut its full-year outlook.Apple (AAPL) rose 2.5%, the Dow's top gainer, as the iPhone manufacturer unveiled its first foldable smartphone on Wednesday.

Dow JonesNasdaq CompositeS&P 500$AAPL$COO
Sectors

Sector Update: Healthcare

Healthcare stocks declined Thursday afternoon, with the NYSE Healthcare Index shedding 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.4%.The iShares Biotechnology ETF (IBB) dropped 1.3%.In corporate news, Cooper (COO) shares fell past 14% after the company cut its fiscal 2026 guidance. Separately, BofA Securities downgraded Cooper to neutral from buy and lowered its price target to $65 from $80. BofA said Cooper could not sell CooperSurgical at an attractive valuation given competition from the Paragard intrauterine device and the fertility litigation settlement.

$COO
Wire

Top Midday Stories: Macy's Shares Fall Despite Strong Earnings; Amazon Reportedly Collaborates With OpenAI on ChatGPT Advertising

All three major US stock indexes were down in late-morning trading Thursday, as oil prices continued to rise amid the ongoing conflict between the US and Iran.In company news, Macy's (M) reported fiscal Q2 adjusted earnings Thursday of $0.63 per diluted share, up from $0.35 a year earlier and above the FactSet consensus analyst estimate of $0.37. Fiscal Q2 net sales were $4.87 billion, up from $4.81 billion a year ago and above the FactSet consensus of $4.81 billion. For fiscal Q3, the company expects an adjusted diluted loss of $0.23 to $0.19 on net sales of $4.65 billion to $4.70 billion. Analysts polled by FactSet expect an adjusted loss of $0.06 on sales of $4.65 billion. For fiscal 2026, Macy's expects adjusted diluted EPS of $2.15 to $2.35, up from its prior outlook of $2 to $2.20 and compared with the FactSet consensus of $2.24. The company expects fiscal 2026 net sales of $21.675 billion to $21.825 billion, up from its previous guidance of $21.50 billion to $21.75 billion and compared with the FactSet consensus of $21.72 billion. Macy's shares were down 2.9% around midday.Amazon (AMZN) Ads, the technology giant's advertising arm, has entered into a partnership with OpenAI through which it will let its advertisers place ads in ChatGPT, according to media reports. Amazon shares were up 0.1%.Cooper Companies (COO) reported fiscal Q3 adjusted EPS late Wednesday of $1.15, up from $1.10 a year earlier and above the FactSet consensus of $1.12. Fiscal Q3 revenue was $1.07 billion, up from $1.06 billion a year ago but below the FactSet consensus of $1.10 billion. For fiscal Q4, the company expects adjusted EPS of $1.05 to $1.09 on revenue of $1.06 billion to $1.08 billion. Analysts polled by FactSet expect $1.19 and $1.11 billion, respectively. For fiscal 2026, Cooper expects adjusted EPS of $4.51 to $4.55 on revenue of $4.23 billion to $4.25 billion. Previously, it expected adjusted EPS of $4.58 to $4.66 on revenue of $4.29 billion to $4.32 billion. Analysts expect $4.63 and $4.31 billion, respectively. Cooper shares were down 13.6%.Bending Spoons (BSP) said Thursday it has agreed to buy Miro at an enterprise value of about $1.36 billion. The all-cash deal implies an equity value of $1.79 billion, the company said. Shares of Bending Spoons were up 8.4%.Redwood Trust (RWT) plans to offer $150 million of convertible senior notes due 2030 in a private offering to institutional buyers, the company said Thursday. Redwood shares were down 17.8%.Grab (GRAB) is in talks to potentially acquire a majority interest in Singapore-based buy-now-pay-later firm Atome Financial, Bloomberg reported Thursday, citing people familiar with the matter. The acquisition could price Atome at over $2 billion, the report said, citing the people. Grab shares were down 0.5%.Price: $20.82, Change: $-0.70, Percent Change: -3.23%

$AMZN$BSP$COO$GRAB$M$RWT
Wire

Cooper Companies Failed to Sell CooperSurgical at Attractive Valuation, BofA Says

Cooper Companies (COO) could not sell CooperSurgical at an attractive valuation given competition from the Paragard intrauterine device and the fertility litigation settlement, and the lack of buyers likely leads investors to view CooperSurgical as a structurally lower valuation asset and removes any sum-of-the-parts optionality for a while, BofA Securities said Thursday.The company lowered its CooperVision guidance for the second time this year to 1% to 2% growth from 3.5% to 4.5% previously. Cooper has fallen short of guidance and lowered its outlook too often over the last couple of years, according to the note.The downward revision in CooperVision is due to inventory destocking in the US. Excluding the inventory destocking, CooperVision would have grown 5%, compared with the 2% decline in fiscal Q3. The destocking is expected to conclude in fiscal Q4, BofA said.The company sees current contact lens market growth at 4% to 4.5% and believes CooperVision can grow back in line with the market in 2027, the analysts said.BofA downgraded Cooper Companies to neutral from buy and lowered its price target to $65 from $80.Shares of the company fell more than 13% in recent Thursday trading activity.Price: $54.75, Change: $-8.74, Percent Change: -13.76%

$COO
Wire

UBS Adjusts Cooper Companies Price Target to $66 From $75, Maintains Neutral Rating

Cooper (COO) has an average rating of overweight and mean price target of $72.77, according to analysts polled by FactSet.Price: $52.35, Change: $-11.13, Percent Change: -17.53%

$COO
Sectors

Sector Update: Healthcare Stocks Mixed Pre-Bell Thursday

Healthcare stocks were mixed pre-bell Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) up 0.4% and the iShares Biotechnology ETF (IBB) 0.5% lower.Cooper (COO) shares were down more than 17% after the company cut its fiscal 2026 guidance.Novartis (NVS) shareholder Artisan Partners called for changes to the Swiss drugmaker's board following two consecutive drug trial setbacks that sent shares tumbling, Reuters reported, citing an interview with Artisan managing director David Samra. Novartis stock was up more than 1% premarket.Axogen (AXGN) shares were down more than 4% after the company said it has priced an underwritten public offering of about 4.9 million shares at $42.50 each, with gross proceeds expected to be about $208.7 million.

$AXGN$COO$IBB$NVS$XLV
Sectors

Sector Update: Healthcare

Healthcare stocks were mixed pre-bell Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) up 0.4% and the iShares Biotechnology ETF (IBB) 0.7% lower.Cooper (COO) shares were down more than 18% after the company cut its fiscal 2026 guidance.

$COO
Research

William Blair Downgrades Cooper to Market Perform From Outperform

Cooper (COO) has an average rating of overweight and mean price target of $72.77, according to analysts polled by FactSet.

$COO
Research

BofA Securities Downgrades Cooper to Neutral From Buy, Adjusts Price Target to $65 From $80

Cooper (COO) has an average rating of overweight and mean price target of $72.77, according to analysts polled by FactSet.

$COO
Research

Piper Sandler Downgrades Cooper to Neutral From Overweight, Raises Price Target to $59 From $86

Cooper (COO) has an average rating of overweight and mean price target of $70.62, according to analysts polled by FactSet.

$COO
Wire

Update: Cooper Shares Fall Pre-Bell After Fiscal Q3 Sales Miss Weighs on Adjusted Earnings Beat, Cut in Full-Year Guidance

(Updates with the stock move in the headline and the first paragraph.)Cooper Companies (COO) shares were down over 15% in Thursday's premarket activity after its fiscal Q3 sales miss overshadowed the earnings beat, and the company also scaled back its full-year outlook.The company reported fiscal Q3 adjusted earnings late Wednesday of $1.15 per diluted share, up from $1.10 a year earlier.Analysts polled by FactSet expected $1.12.Revenue for the three months ended July 31 was $1.07 billion, up from $1.06 billion a year earlier.Analysts expected $1.10 billion.For fiscal Q4, the company expects adjusted EPS of $1.05 to $1.09 on revenue of $1.06 billion to $1.08 billion. Analysts expect EPS of $1.19 on revenue of $1.11 billion.The company now expects full-year fiscal 2026 adjusted EPS of $4.51 to $4.55 on revenue of $4.23 billion to $4.25 billion. It earlier expected adjusted EPS of $4.58 to $4.66 on revenue of $4.29 billion to $4.32 billion.Analysts expect EPS of $4.63 on revenue of $4.31 billion.Separately, the company said it authorized an expansion of its share buyback program to $3 billion from $2 billion.It also completed its strategic review related to the sale of CooperSurgical, and concluded that shareholders would be better served by continued ownership than by a divestment at this time.Price: $53.68, Change: $-9.80, Percent Change: -15.44%

$COO

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