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Argus Raises Price Target on Johnson & Johnson to $275 From $240

Johnson & Johnson (JNJ) has an average rating of overweight and mean price target of $256.39, according to analysts polled by FactSet.Price: $237.10, Change: $-3.00, Percent Change: -1.25%

$JNJ

Wire159d ago

Zoom Names Russell Dicker as Chief Product Officer

Zoom Communications (ZM) said Wednesday it has appointed Russell Dicker as chief product officer.Before joining Zoom, Dicker most recently served as corporate vice president of Product at Microsoft (MSFT), where he led the product management and data science organizations for Microsoft Teams, the company said.Shares of Zoom were up 7.4% in Wednesday afternoon trading.Price: $88.39, Change: $+5.99, Percent Change: +7.27%

$MSFT$ZM

Wire159d ago

Argus Lifts Price Target on Citigroup to $145 From $129

Citigroup (C) has an average rating of buy and mean price target of $138.48, according to analysts polled by FactSet.Price: $131.67, Change: $+2.08, Percent Change: +1.61%

Wire159d ago

Wells Fargo Raises Price Target on Morgan Stanley to $200 From $189

Morgan Stanley (MS) has an average rating of overweight and mean price target of $194.23, according to analysts polled by FactSet.Price: $191.68, Change: $+8.34, Percent Change: +4.55%

$MS

Wire159d ago

Cadence Design Systems Expands Nvidia Partnership, Collaborates with Google Over AI Chip Design, Accelerated Computing

Cadence Design Systems (CDNS) said in separate press releases on Wednesday it expanded its partnership with Nvidia (NVDA) and entered a collaboration with Alphabet's (GOOG/GOOGL) Google.Cadence will work with Nvidia to deliver services covering agentic AI and physics-based simulation for productivity efficiencies and speeding up engineering flows across semiconductor design by combining its electronic design automation with Nvidia CUDA-X and Omniverse libraries, according to a statement.Nvidia will adopt Cadence's AgentStack in its chip design flows, and the companies will also focus on embedded agentic AI for the development of autonomous machines, the company stated.Cadence will collaborate with Google to optimize the Cadence ChipStack AI Super Agent with Gemini on Google Cloud to advance the transition to agentic design automation, according to the company.Cadence is tightening its integration between the Gemini-enabled super agent and Cadence EDA engines, while leveraging Google's infrastructure to deliver compute for Gemini's large-language model reasoning, the company added.Price: $302.86, Change: $+10.49, Percent Change: +3.59%

$CDNS$GOOG$GOOGL$NVDA

Wire159d ago

Top Midday Decliners

BRP (DOO) shares tumbled 36% on Wednesday after the company on Tuesday suspended fiscal 2027 guidance following a recent amendment to US rules for tariffs on steel, aluminum, and copper imports.Intraday volume topped 3.25 million shares versus the daily average of almost 237,000.ASML Holding (ASML) shares slumped 6.4% after the company issued a Q2 sales outlook below analysts' expectations.Intraday volume topped 2.77 million shares versus the daily average of 1.8 million.Goldman Sachs downgraded SolarEdge Technologies (SEDG) to sell from neutral and cut its price target to $31 from $36.SolarEdge stock fell 13% as intraday volume topped 5.69 million shares, compared with the daily average of 3.42 million.Price: $50.17, Change: $-28.28, Percent Change: -36.05%

$ASML$DOO$SEDG

Wire159d ago

Union Pacific, Rocky Mountain Steel Mills Report New Contract

Union Pacific (UNP) and Rocky Mountain Steel Mills said Wednesday they have struck a new, seven-year contract for the domestic production of steel rails.The deal ends any pending legal disputes between the companies, according to the release. Rocky Mountain Steel, located in Pueblo, Colorado, is the only remaining rail production facility in the US.Financial details were not disclosed.Price: $249.28, Change: $-2.76, Percent Change: -1.10%

$UNP

Wire159d ago

Top Midday Gainers

Allbirds (BIRD) said Wednesday it has executed a definitive agreement with an institutional investor for a $50 million convertible financing facility that will enable the company to pivot its business to artificial intelligence compute infrastructure.Shares catapulted more than 625% as intraday trading volume surged to over 232.1 million from a daily average of about 117,000.Canadian Investment Regulatory Organization Trade announced around midday that trading resumed in the shares of Xanadu Quantum Technologies, which is listed on the Nasdaq under ticker symbol XNDU, following a temporary suspension to ensure a fair and orderly market.US-listed shares were up more than 67% as intraday trading volume advanced to over 5.2 million from a daily average of roughly 971,000.Energous (WATT), doing business as Energous Wireless Power Solutions, reported on Wednesday "continued commercial momentum" across its enterprise customer base, including expanding deployments with its two Fortune 10 customers, and a growing proof-of-concept pipeline spanning multiple industries and geographies.Shares rose nearly 35%, with intraday trading volume jumping to more than 1.6 million from a daily average of about 391,000.Price: $18.07, Change: $+15.58, Percent Change: +625.50%

$BIRD$WATT$XNDU

Wire159d ago

WEX, Corpay Poised for Q1 Lift From Higher Fuel-Transaction Revenue, BofA Says

WEX (WEX) and Corpay (CPAY) are positioned to benefit in Q1 from the jump in US fuel prices, which boosts transaction-based revenue in their fleet and vehicle-payments businesses, BofA Securities said Wednesday in a report.WEX is tracking ahead of expectations for the quarter, with revenue and adjusted earnings likely to exceed consensus as higher fuel prices flow through its fuel-linked payment volumes, the report said. BofA forecasts Q1 revenue of $676 million and adjusted EPS of $4.11, above Wall Street estimates.Corpay is expected to deliver results broadly in line with consensus, with investor attention focused on any updates to its outlook and progress on merger and divestiture plans, the report said. BofA models Q1 revenue of $1.21 billion and adjusted EPS of $5.45.WEX is scheduled to report results on April 22 with Corpay on May 6.BofA raised its price target on WEX stock to $193 from $180 and maintained its buy rating. On Corpay, BofA reduced its price target to $377 from $384 and reiterated its buy rating.WEX shares rose 2.2% in Wednesday trading, and Corpay gained 0.9%.Price: $171.67, Change: $+3.68, Percent Change: +2.19%

$CPAY$WEX

Wire159d ago

Mizuho Securities Adjusts Intel Price Target to $59 From $48, Maintains Neutral Rating

Intel (INTC) has an average rating of hold and mean price target of $55.04, according to analysts polled by FactSet.Price: $64.03, Change: $+0.22, Percent Change: +0.34%

$INTC

Wire159d ago

Alphabet, Thoma Bravo Partner to Accelerate AI Transformations for Enterprise Software Companies

Alphabet's (GOOG, GOOGL) Google Cloud and Thoma Bravo have entered into a strategic partnership to aid enterprise software companies accelerate their artificial intelligence transformations, the investment firm said Wednesday.Under this partnership, Thoma Bravo's portfolio companies can access Google Cloud's AI platform, including Gemini models and Gemini Enterprise platform for agentic AI, according to a statement.Thoma Bravo said its cybersecurity portfolio will also partner with Google Cloud to detect and mitigate security risks with AI.Price: $332.20, Change: $+1.62, Percent Change: +0.49%

$GOOG$GOOGL

Wire159d ago

Organigram Closes Acquisition of Sanity for $126.6 Million

Organigram Global (OGI) said Wednesday it closed its acquisition of Sanity Group for 107.3 million euros ($126.6 million).The consideration included 78 million euros in cash and 29.3 million euros in shares.The company also closed a private placement with British American Tobacco's (BTI) unit BT DE Investments for gross proceeds of 40.3 million euros, along with senior secured credit facilities of up to CA$60 million.Max Konrad Narr was appointed to Organigram's board for the duration of the earnout period tied to Sanity's financial performance through April 1, 2027.Price: $1.49, Change: $+0.06, Percent Change: +4.20%

$BTI$OGI

Wire159d ago

Janux Therapeutics Lacking Near-Term Catalysts, UBS Says

Janux Therapeutics (JANX) lacks near-term stock-moving catalysts after the stock came under pressure following mixed results from phase 1a trial of JANX007 in 5L metastatic prostate cancer, UBS said in a Wednesday report.The report said focus will now be on the phase 1b update in taxane-naive metastatic castration-resistant prostate cancer population in H2, with upside depending on whether the data showing a clean safety profile and durable radiographic progression-free survival compared with Pluvicto."We think 2H26 data will likely be incremental with limited impact on the stock," the note said, given among others that that the trial is in dose optimization.The report said a more substantial update may be in 2027, whenmore patients from expansion cohorts and more mature follow-up are expected.UBS downgraded the stock to neutral from buy and lowered its price target to $15 from $57.Price: $14.77, Change: $-0.47, Percent Change: -3.08%

$JANX

Wire159d ago

L3Harris Technologies Plans Over $1 Billion Expansion of Virginia Rocket Motor Facility

L3Harris Technologies (LHX) said Wednesday it has agreed with Virginia officials to expand its solid rocket motor production capacity in Orange County with a more than $1 billion investment.The project is expected to more than double the manufacturing space at the site and create more than 350 jobs over the next five years, the aerospace company said.The new Virginia Advanced Propulsion Facilities will support operations like mixing, grinding, casting, and final assembly for various US Defense Department programs, L3Harris said.The company is also upgrading and expanding solid rocket motor production at its locations in Camden, Arkansas, and Huntsville, Alabama, to increase production rates, it added.Price: $356.60, Change: $+1.04, Percent Change: +0.29%

$LHX

Wire159d ago

Gold Royalties Offer Better Growth Than Miners Amid Cost Pressures, UBS Says

Gold streaming and royalty companies offer better growth and a stronger hedge against cost inflation than gold miners, with more stable margins and lower execution risk, UBS said in a note Wednesday.The analysts said that during the gold price upcycle last year, miners offered higher operational leverage to metal price upside, while inflationary pressures remained moderate and companies appeared less likely to miss guidance. At the same time, streaming companies like Franco-Nevada (FNV), Wheaton Precious Metals (WPM), and Royal Gold (RGLD) became cheaper relative to their historical valuations, they said.Looking ahead, gold prices are still expected to remain strong, but not rise as sharply as they did in 2025, the analysts said. Meanwhile, miners may face increasing cost pressures, especially from energy and potential disruptions, which could hurt margins, they added."We believe [Franco-Nevada, Wheaton Precious Metals, and Royal Gold] all offer superior near-term and medium-term growth prospects versus most large cap miners," the analysts said.UBS reiterated its buy ratings on Franco-Nevada with a $310 price target and on Wheaton Precious Metals with a $160 price target, and initiated Royal Gold with a buy rating and a $325 price target.Price: $256.03, Change: $-1.26, Percent Change: -0.49%

$FNV$RGLD$WPM

Wire159d ago

Update: BofA Securities Raises Price Target on Johnson & Johnson to $254 From $253, Maintains Neutral Rating

(Updated to include BofA's commentary)BofA Securities raised its price target on Johnson & Johnson (JNJ) to $254 from $253, while maintaining its Neutral rating after the company's reported better-than-expected Q1 results.Given the results, the brokerage modestly raised its 2026 forecasts mainly for Tremfya (immunology). But, as there were no thesis-changing updates, with the company providing above-peer top-line growth and favorable LOE profile, which is already reflected in its premium multiple, the brokerage reiterated its Neutral rating on balanced risk/reward.Johnson & Johnson has an average rating of overweight and mean price target of $256.39, according to analysts polled by FactSet.Price: $237.77, Change: $-2.33, Percent Change: -0.97%

$JNJ

Wire159d ago

US Airlines Head Into Q1 Earnings With Demand Trends, M&A Chatter in Focus, UBS Says

United Airlines (UAL), Alaska Air Group (ALK), American Airlines (AAL) and Southwest Airlines (LUV) are heading into next week's Q1 earnings with investor attention centered on demand trends, unit-revenue guidance and renewed consolidation speculation, UBS Securities said Tuesday in a report.Delta Air Lines' (DAL) strong demand trends and low-teens Q2 revenue outlook set a high bar for the sector, with investors watching whether peers can sustain similar momentum or show signs of normalization, the report said.For United Airlines, UBS expects mid-teens Q2 revenue growth and above-consensus earnings, supported by improving year-over-year comparisons at its Newark, New Jersey, hub, strong premium demand and scenario-based full-year guidance.American Airlines is expected to post mid-teens Q2 revenue growth with a modest earnings loss, with potential upside from corporate share recapture but a likely wider guidance range or suspension of full-year targets, the report said.Southwest Airlines is expected to deliver high-teens unit-revenue growth and above-consensus earnings, with a suspension of full-year guidance anticipated as the carrier continues to advance its transformation strategy, UBS said.Results are due for Alaska Air on Monday, United on Tuesday, Southwest on April 22 and American on April 23.United shares fell 2.5% in Wednesday trading, Alaska Air eased 0.2%, American rose 1.1%, Southwest gained 1.2%, and Delta advanced 1%.Price: $94.79, Change: $-2.38, Percent Change: -2.45%

$AAL$ALK$DAL$LUV$UAL

Wire159d ago

Domino's Pizza to Miss First-Quarter Street Estimates, RBC Says

Domino's Pizza's (DPZ) first-quarter results will likely miss Wall Street's estimates, with economic challenges expected to drive a downgrade to the pizza restaurant operator's same-store sales outlook for the US, RBC Capital Markets said in a note e-mailed Wednesday.The brokerage expects Domino's to post 2.7% first-quarter comparable sales growth in the US, below analysts' consensus estimate that RBC put at 3%. Internationally, RBC is looking at a 0.8% rise, compared with the Street's expectation for a 0.7% increase.RBC forecasts Domino's first-quarter earnings per share at $4.22, lower than the $4.30 market view.The company in February pegged full-year US comparable sales growth at 3%. RBC anticipates a slight guide down as "potentially intensifying macro pressures since the (Feb. 23) earnings call could incrementally weigh on management's outlook," RBC analyst Logan Reich said.The brokerage expects a 2.5% gain in the US this year, compared with market expectations that call for a 2.7% rise."While Domino's is arguably a beneficiary of trade down, carryout, which has been the key SSS growth driver post-COVID, could be relatively more impacted by rising gas prices than delivery," Reich said.Energy prices have spiked following the US-Iran conflict that has disrupted shipments through the Strait of Hormuz. While recent peace talks in Pakistan ended without a deal, a two-week ceasefire between Washington and Tehran still holds."Elevated oil prices could start to impact international markets more broadly, particularly importers like China and India which have been key growth drivers of the segment," Reich wrote.RBC said US delivery is buoyed by incremental DoorDash (DASH) transactions, though the tally excluding DoorDash is seen falling by low single digits. Meanwhile, store closures by Yum Brands (YUM) unit Pizza Hut and Papa John's (PZZA) could be a slight benefit to Domino's in the first quarter, Reich added.RBC reiterated its sector perform rating on Domino's stock and reduced the price target to $400 from $425.Price: $368.45, Change: $-0.72, Percent Change: -0.20%

$DPZ

Wire159d ago

Johnson & Johnson Reported Above-Peer Topline Growth in Q1, BofA Says

Johnson & Johnson (JNJ) reported above-peer top-line growth in Q1 and a limited loss-of-exclusivity exposure, but that is already reflected in the company's premium multiple, BofA Securities said in a client note Wednesday.In its Q1 results, Johnson & Johnson did not provide any material research and development pipeline updates, with the investor call focusing on the Icotyde plaque psoriasis drug launch and reasons for perceived "softness" in MedTech, the BofA analysts said."Overall, 1Q offered nothing thesis changing," the analysts said.BofA said that the company's Tremfya drug has solidified its "number two" position in the drug target category, aided by subcutaneous Crohn's induction, with that benefit expected to neutralize when competitor AbbVie (ABBV) launches subcutaneous Skyrizi in 2027.The analysts updated their Tremfya peak sales estimate to $13 billion from $11 billion.BofA retained a neutral rating on the stock and increased its price target to $254 from $253.Price: $238.42, Change: $-1.68, Percent Change: -0.70%

$ABBV$JNJ

Wire159d ago

BlackRock Shows it Can Consistently Beat Organic Base-Fee Growth Target, UBS Says

BlackRock (BLK) continues to demonstrate that it can grow above its organic base-fee growth target of 6% to 7% or higher, UBS Securities said in a note emailed Wednesday.Q1 organic base fee growth of 8% exceeded BlackRock's target and was in line with the UBS estimate of 8.1%. The company's management noted share gains and "all-weather" growth across exchange traded funds, model portfolios, private markets, active ETFs and tax-aware strategies, the brokerage said.In private credit, the retail channel is under pressure. However, the company said its institutional allocations and interests are holding up and in some cases increasing as wider spreads improve returns, while defaults remain within historical norms, according to UBS.Private credit activity in Q1 was a bit softer, partly due to seasonal factors and uncertainty, but that is also creating new opportunities such as direct lending terms quoted 25 to 50 basis points wider, the brokerage said.UBS added that concerns on artificial intelligence disruption to private credit have impacted valuation, but it expects BlackRock to navigate these challenges well due to its scale and history of outperformance in asset management.The brokerage raised its 2026 and 2027 EPS estimates by nearly 1% to $53.50 and $59, respectively, driven by slightly higher management fees.UBS maintained a buy rating on BlackRock and raised the price target to $1,270 from $1,235.Price: $1050.24, Change: $-4.32, Percent Change: -0.41%

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Wire159d ago

Domino's Pizza to Miss First-Quarter Street Estimates, RBC Says

$DPZ