My top 10 things to watch Monday, Aug. 11 1.
Melius Re's Ben Reitzes downgraded Adobe to sell from hold, arguing that an AI-driven multiple contraction phase is in the early innings for software-as-a-service (SaaS) companies.
That includes the s of Atlassian and stock Salesforce . It can still get worse for these names, Reitzes said. Huge call. 2. The U.S.
government is reportedly going to take a 15% cut on Nvidia and AMD chip sales to China, in exchange for Washington apving export licenses. Why such an unusual agreement?
Is it to make sure China knows who is boss? Nvidia s were slightly lower this morning. 3.
Intel CEO Lip-Bu Tan is going to see President Donald Trump at the White House today, The Wall Street Journal reported . Can he talk Trump out of his demand that Tan be fired?
Tan's venture capital firm Walden International did investment in hundreds of Chinese companies as well as American firms. 4.
Wall Street is set for a modestly higher open this morning after a winning week, thanks in large part to name Apple's historic rally.
I explored what drove that and where it goes from here in my Sunday column for rs . 5. A few post-earnings price target cuts for Under Armour , including at UBS, which went to $7.50 a from $8.
The analysts, who kept their buy rating, acknowledged tariffs are really hurting the apparel maker. But they expect a strong fundamental turnaround next fiscal year. Citi is more circumspect. 6.
Deutsche Bank is the shop to slash its price target on name Eli Lilly after last week's obesity pill data letdown. The analysts went to $900 from $1,010 but maintained their buy rating.
Still reeling from that disappointment. Lilly s fell another 2% Friday after Thursday's 14% tumble. 7.
Susquehanna axed its price target on Fortinet to $80 from $110 ing the cybersecurity company's earnings report contained some disappointing ary on the firewall refresh cycle.
-owned cyber firms CrowdStrike and Palo Alto Networks are much better companies. 8. s of TKO Group and Paramount Skydance rose this morning after announcing a media rights deal.
Fresh of its Skydance merger, Paramount said it's paying $7.7 billion over seven years for the U.S. rights to UFC. 9.
Citi is bullish on AI computing vider CoreWeave ahead of earnings Tuesday and its lockup expiration on Friday.
Analysts argued CoreWeave's strong fundamentals will be able to absorb the additional stock that could enter the market. 10. Morgan Stanley upgraded e.l.f.
Beauty to an overweight buy rating from equal weight, arguing consensus fit estimates look too low.
The cosmetics maker is expanding its presence across the Sephora foot and earnings could get a nice boost.
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