Yahoo Finance is tracking Snap, Apple, Gap, Herbalife and Amazon in intraday trading on Monday.
Apple (AAPL) – Pacific Crest has turned more cautious on the tech giant. Analyst Andy Hargreaves downgraded Apple from overweight to sector weight, arguing that the high stock price does not factor in risks of supply shortages with the upcoming iPhone 8. He also warns of a potential slowdown in demand for the new device in FY19. Apple shares are up about 32% so far this year.
Snap (SNAP) – JPMorgan (JPM) cut its price target on Snap to $18 from $20 per share. The investment firm is concerned about Snap’s ability to monetize and grow its ad business. Snap shares are down 2% as of 11:15 a.m. ET Monday.
Gap (GPS) – Oppenheimer upgraded Gap to outperform from perform and raised its price target on the stock by $4 to $28 a share. The firm is bullish on the retailer because of strength at its Old Navy and Gap brands. Gap shares are down about 9.5% so far this year.
Herbalife (HLF) – The supplements maker has lowered its sales estimates for the current quarter, saying that sales will fall 2% to 6% from a year ago. That’s down from its previous forecast of a drop of 1% to 5%. Herbalife blamed the new Federal Trade Commission regulations and softer trends in Mexico as reasons for the lowered estimates. Herbalife also noted that it expects the second quarter of 2017 to be “the most challenging quarter of the year from a comparative perspective.”
Amazon (AMZN) – Digitimes is reporting that Amazon Echo shipments could top 10 million this year. Amazon’s decision to cut its price on the Echo Dot to $49 is expected to boost demand for the device.
For more on Monday’s big stock movers, check out the Final Round, live at 4 p.m. ET, right here on Yahoo Finance.