Scroll to Top

Apple, Alibaba, Amazon, Time Warner & more

By dailymail / Published on Monday, 12 Jun 2017 13:26 PM / No Comments


Check out which companies are making headlines before the bell:

Apple — Shares of Apple fell about 2 percent in the premarket after Mizuho Securities downgraded the stock to “neutral” from “buy,” noting the best-case scenario is priced into the shares. Apple’s fall dragged shares of its suppliers lower, as well, with Qorvo sliding 2.5 percent.

General Electric — The Dow Jones industrial average component climbed approximately 4 percent after the company announced CEO Jeff Immelt will be stepping down. John Flannery, current president and CEO of GE Healthcare, will take over as chief executive in August.

Amazon.com — Analysts at Piper Jaffray raised their price target on the online retailer’s stock to $1,200 from $1,050, as they expect “little to no” deceleration in unit growth for the second quarter of 2017. Piper said that, according to their analysis of Google trends data, growth of “search interest [quarter-to-date] continued at a rate of 23% vs. 23% in the Mar-17 quarter.”

Adobe Systems — Adobe’s stock was downgraded to “sell” from “hold” at Pivotal Research, with analyst Brian Wieser noting the stock has risen too much too fast in recent months. Wieser said in a note: “If we were to recommend investing against the increasing importance of marketing software in the overall marketing and advertising eco-system, we would rather be exposed to other companies at this time.”

Alibaba — The Chinese e-commerce company’s stock had its price target increased to $177 from $155 by MKM Partners analyst Rob Sanderson, implying a 26.9 percent upside potential from Friday’s close. Sanderson cited a “bullish analyst event last week” at Alibaba’s headquarters and a “jaw-dropping” guidance offered for fiscal 2018.

Time Warner — Warner Bros.’ “Wonder Woman” movie pulled in an estimated $57.2 million in North American theaters last weekend, easily outperforming Universal Studio’s “The Mummy,” which raked in $32.2 million in its debut weekend.

—With reporting from Michael Bloom and John Melloy.

Disclosure: CNBC’s sister company Universal Studios competes with Warner Bros.