MARKET WRAPS

Watch For:

S&P CoreLogic Case-Shiller Home Prices Index for January; Conference Board -- Consumer Confidence for March; Fed's Michael Barr Testifies to Senate Banking Committee; Earnings from Jefferies, Walgreens Boots Alliance, Micron Technology and Lululemon Athletica.

Today's Top Headlines/Must Reads:

- Top Bank Regulators to Face Senate Questions Over SVB, Signature Collapses

- To Some Investors, Banks Look Like Bargains

- For Chip Makers, a Choice Between the U.S. and China Looms

- Multinationals Slam New EU Foreign-Subsidy Law's Reporting Rules

- U.S. and Japan Strike Deal on Minerals Used in Batteries for Electric Cars

- Kim Jong Un Says He Will Expand Production of Nuclear Material

Follow WSJ market coverage here

Opening Call:

Stock futures were higher on Tuesday as the bank angst continued to subside.

Nasdaq futures were underperforming as the calmer mood is seen reducing demand for those large technology stocks with sturdy balance sheets that have been considered safe havens in recent weeks.

"A relief ripple is helping stocks make some gains amid hopes that the volatility, which has wracked the banking sector, has eased off," Hargreaves Lansdown said.

"With contagion limited for now, hopes that the debacle will have less of an impact on global growth have ticked up a little. Reports that the flow of deposits from smaller lenders to larger banks in the United States has slowed also appear to have helped sentiment," Hargreaves added.

Deutsche Bank said "improving risk sentiment saw investors pare back their expectations of Fed rate cuts."

An important clue to the likely trajectory of Federal Reserve policy will come on Friday when the PCE inflation gauge for February will be published.

Fundstrat observed that the market had proved resilient "at a time when most investors are expecting stock indices to fall" and that traders should note the S&P 500 will soon be entering the usually bullish month of April.

Read Markets Expect Central Banks to Shift Focus Back to Inflation

Read Bank Credit Investors Likely to Stay Cautious Due to US Banking Sector Uncertainty

Stocks to Watch

Coinbase edged lower in premarket trading. The stock tumbled 7.8% in the previous session after the Commodity Futures Trading Commission sued crypto exchange operator Binance and its co-founder and Chief Executive Changpeng Zhao.

Exicure warned about its ability to continue as a going concern if it doesn't secure significant additional funds. Shares dropped 3.5% in after-hours trading.

First Citizens Bancshares fell 0.8% in premarket trading after soaring nearly 54% on Monday after the bank agreed to acquire large parts of Silicon Valley Bank's business.

Lyft said it is tapping a board member as its chief executive, and its two co-founders will step back from managing the company, following a report in The Wall Street Journal. Shares rose 4.5% in premarket trading.

PVH, the owner of the Calvin Klein and Tommy Hilfiger brands, topped fourth-quarter adjusted earnings and sales estimates. Shares rose 11.4% in premarket trading.

Virgin Orbit dropped 17.3% to about 44 cents after Dan Hart, CEO of the space launch startup, told employees via email the company would be extending unpaid furlough for majority of its workforce as talks for more funding continue, Reuters reported.

Economic Insight

The U.S. economy is showing signs of resilience, even as downside risks rise, S&P said.

"We now expect U.S. GDP to decline by 0.3 percentage points from its peak in first-quarter 2023 to its third-quarter trough," S&P said.

"Safeguards from the Fed and other regulators have stabilized conditions, " S&P said, but added banking concerns, including the collapse of Silicon Valley Bank, increase risks of a worse outcome.

"With a high degree of uncertainty, the fed funds rate is still expected to peak at 5.00%-5.15% by May."

Separately, S&P said the economic weakness in the U.S. will soften the job market later this year.

The recent disturbances in the banking sector will also add to a softer market, S&P said.

"Businesses will also need to trim payrolls, as seen in interest rate-sensitive sectors, as demand dries up in other industries," according to S&P.

The agency said "the current 3.6% unemployment rate is expected to peak at 5.4% earlier in 2025, then decline in late 2025."

Read Recession looks less likely for U.S., these economists say, but a 'slog' still lies ahead

Forex:

The dollar was lower in early European trading, as improved global risk sentiment reduced demand for safe haven assets, MUFG Bank said.

It follows some relief Monday for European banks and U.S. regional banks after news that First Citizens BancShares will buy much of failed Silicon Valley Bank, MUFG said.

An expected tightening in credit conditions resulting from recent banking sector troubles has prompted the market to lower its Fed interest rate rise expectations, it added.

"The tentative improvement in global investor risk sentiment at the start of this week leaves the dollar vulnerable to further weakness on the back of the recent sharp adjustment lower in U.S. yields."

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Sterling gained and was the third best-performing G10 currency in March after the Japanese yen and Swiss franc, boosted by a reversal of some investor pessimism towards the U.K. economy, MUFG Bank said.

The U.K. economy's resilience is keeping pressure on the Bank of England to raise interest rates, MUFG said.

Meanwhile, BOE Governor Andrew Bailey on Tuesday provided reassurance that U.K. banks are well placed to support the economy. "The comments leave open the possibility of one further 25 basis points hike at the next Monetary Policy Committee meeting on May 11," MUFG said.

Read Sterling Could Extend Gains Vs Dollar on BOE-Fed Divergence

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The euro could rise further as ECB members continue to signal further interest rate rises, Unicredit Research said.

"We still expect [EUR/USD] to recover even beyond the year-to-date peak of 1.1033, as we expect a progressive convergence in policy rates between the Fed and the ECB over the medium term."

Moreover, investors remain considerably net-long EUR/USD, expecting it to rise, showing no signs that confidence in the euro has been undermined by recent market turbulence affecting the eurozone banking sector, Unicredit said.

Bonds:

Volatility is the big "winner" in this banking crisis, Natixis said.

"Constantly on the lookout for the weakest link, markets seesawed in reaction to any news concerning banking sector issuers on both sides of the Atlantic," it said.

In this context, visibility on the evolution of the Federal Reserve's and ECB's monetary policies is much murkier, it added.

"For the time being, markets are sceptical about further rate hikes, yet central banks are sticking to their restrictive rhetoric about combating inflation,"Natixis said, adding, that logically, this divergence of views is stoking bond market volatility.

Read Banking Jitters Seem to Justify Bullish View on Rates, ING Says

Energy:

Crude futures wavered after registering their biggest gains since December, as the turmoil surrounding U.S. banks continued to drive moves in oil prices.

"Crude oil surged higher after investors were emboldened by promised support for the U.S. banking sector," ANZ Bank said.

Metals:

Metal prices were mixed in early London trading, with gold slightly firmer, as investors feel more optimistic about bank risks and oil's recovery is rippling through commodity and currency markets, Peak Trading Research said.

"Investors feel more optimistic about bank risks and crude oil's recovery is rippling through commodity and currency markets."

Rare Earths

The rare-earths market's reaction to Tesla saying it won't use rare earths in next-generation motors was overdone, according to Macquarie, which highlighted that no reliable high-performing magnets without neodymium have been used in EV manufacturing to date.

"Impacts would be limited in the short term."

Still, Macquarie expects a small market surplus near term, with rare-earths supplies likely to be boosted by higher mining and refining quotas in China. That prompted downgrades to the bank's rare-earths price forecasts.

TODAY'S TOP HEADLINES

New Shell CEO Faces Big Dilemma: Should the Company Pump More Oil?

HOUSTON-Wael Sawan knows he is about to make some people very unhappy.

The new chief executive of Shell PLC is in the midst of crafting his business plan for the London-based energy giant, including whether to increase oil production. Doing so would please many investors looking to build on last year's oil-and-gas bonanza, which produced record annual earnings for Shell.

Facebook Parent Plans Lower Bonus Payouts for Some Staff

Facebook parent Meta Platforms Inc. plans to lower some bonus payouts and will more frequently assess employee performance, according to an internal memo, part of a sweeping revamp of the social-media company that includes large head-count reductions.

Employees who are given a rating of "met most expectations" in their 2023 year-end reviews are set to receive a smaller percentage of their bonus and restricted stock award due in March 2024, the social-media giant on Monday told managers in a memo viewed by The Wall Street Journal. The bonus multiplier for that grade has been cut to 65%, according to the memo. It was 85%, according to an internal document viewed by the Journal.

Adidas and Beyoncé to Part Ways After Ivy Park Sales Struggles

Beyoncé and Adidas AG have decided to end their fashion partnership, according to people familiar with the matter, splitting up after years of lackluster sales for her Ivy Park line of apparel.

The partnership will end after the company releases Ivy Park collections of merchandise that are already planned for this year, the people said. The Hollywood Reporter earlier reported that the two sides were breaking up.

Binance Sued by CFTC Over Evading U.S. Rules

U.S. regulators on Monday sued Binance Holdings Ltd., alleging the operator of the world's largest cryptocurrency exchange kept an illegal foothold in the American market and violated rules designed to prevent illicit financial activity.

The lawsuit sets up a battle between the Commodity Futures Trading Commission, one of the U.S.'s smallest financial regulators, and a global company whose chief executive, Changpeng Zhao, is one of the industry's most influential figures. Binance has survived, and grown, even as many other crypto companies have gone bankrupt over the past year.

Disney Eliminates Its Metaverse Division as Part of Company's Layoffs Plan

Mickey Mouse has left the metaverse.

Walt Disney Co. has eliminated its next-generation storytelling and consumer experiences unit, the small division that was developing metaverse strategies, according to people familiar with the situation, as part of a broader restructuring that is expected to reduce head count by around 7,000 across the company over the next two months.

Lyft Hires New CEO as Founders Step Back Amid Struggles With Competition

Lyft Inc., grappling with competition and a battered stock price, is tapping a board member as its chief executive, and its two co-founders will step back from managing the company, the ride-sharing company said Monday.

David Risher, who had management stints at Amazon.com Inc. and Microsoft Corp. before starting a childhood-reading nonprofit in 2009, will take over from Logan Green, who co-founded Lyft with current President John Zimmer. The pair will retain their seats on the board but not participate in running Lyft day-to-day.

CNN Finalizing Deal to Add Gayle King as It Hits Lowest Ratings in Decades

CNN is finalizing a deal for "CBS Mornings" anchor Gayle King to host a weekly prime-time show, according to people familiar with the situation, as network boss Chris Licht experiments with new programming to counter a steep ratings slide.

Ms. King, 68 years old, is expected to begin hosting a once-a-week show this fall, while continuing her duties at CBS, the people said. CNN is also in conversation with former NBA player Charles Barkley about potentially joining a show with Ms. King, they said.

Salesforce Shakes Off Proxy Fight From Elliott

Elliott Management Corp. no longer plans to nominate directors to the board of Salesforce Inc., avoiding a proxy fight at the company's coming shareholder meeting, the two sides said Monday.

Elliott decided to back down following the business-software provider's better-than-expected financial results, as well as other changes initiated at the company in recent weeks, including cost cutting, boosting share buybacks and disbanding a mergers-and-acquisition committee, according to the two companies.

Multinationals Slam New EU Foreign-Subsidy Law's Reporting Rules

BRUSSELS-Multinational companies including Intel Corp. and Raytheon Technologies Corp. are warning that new European Union rules for reporting foreign subsidies are so onerous they could disrupt mergers and acquisitions and impede public tendering.

In a letter sent last week to the European Commission, the bloc's executive body, the companies said the commission "severely underestimates" the work required to comply. While the companies said they support the overall aim of the new rules, they said their implementation "will result in an extremely complex administrative ordeal."

To Some Investors, Banks Look Like Bargains

A growing number of investors are betting on a rebound in the banking sector, wagering that regional lenders are in much better condition than many initially feared after the collapse of Silicon Valley Bank.

Bank shares rallied Monday, while U.S. Treasury prices fell, after First Citizens Bancshares reached a deal with federal regulators to buy large pieces of Silicon Valley Bank. The run on SVB that started March 9 had sparked a rout in banks and a surge in demand for Treasurys, reflecting fears that trouble in the financial sector could hurt the broader economy.

Top Bank Regulators to Face Senate Questions Over SVB, Signature Collapses

Three top U.S. officials are likely to face pointed questions from lawmakers Tuesday about their oversight of Silicon Valley Bank and Signature Bank, as well as their response when the banks collapsed.

The hearing is the first step on Capitol Hill in what could be a monthslong process probing how the two banks quickly failed and whether stricter supervision by financial regulators could have prevented their demise.

For Chip Makers, a Choice Between the U.S. and China Looms

WASHINGTON-Semiconductor companies seeking federal grants under the Chips Act could face a tough decision: take Washington's help to expand in the U.S., or preserve their ability to expand in China.

The Biden administration last week proposed new rules detailing restrictions chip companies would face on operations in China and other countries of concern if the companies accept taxpayer funding.

Distress in Office Market Spreads to High-End Buildings

Defaults and vacancies are on the rise at high-end office buildings, in the latest sign that remote work and rising interest rates are spreading pain to more corners of the commercial real-estate market.

For much of the pandemic, buildings in central locations that feature modern amenities fared better than their less-pricey peers. Some even were able to increase rents while older, cheaper buildings saw surging vacancy rates and plummeting values. Now, these so-called class-A properties, whose rents generally fall into a city's top quartile, are increasingly coming under pressure.

U.S. and Japan Strike Deal on Minerals Used in Batteries for Electric Cars

WASHINGTON-The U.S. and Japan reached a trade agreement for minerals used in clean-energy technologies, a deal aimed at allowing Japan to meet sourcing requirements for new electric-vehicle subsidies in the U.S. and shifting energy supply chains away from China.

Under the deal, the U.S. and Japan agreed not to levy export duties on critical minerals they trade and coordinate labor standards in producing minerals, among other steps, according to a U.S. announcement. The pact builds on a limited trade accord the two countries reached in 2019, and they will review the minerals deal every two years to see if they should end or change it.

Australia's February Retail Sales Growth Was Weaker Than Expected

SYDNEY-Australian retail-sales activity was weaker than expected in February, sending a signal that households are struggling under the weight of soaring interest rates and a big rise in the cost of living over the past year.

Retail turnover rose 0.2% in February compared with January, the Australian Bureau of Statistics said Tuesday. Economists had expected a 0.4% rise. The small increase in February follows growth of 1.8% in January.

UK Shop-Price Inflation Hits Record High in March Led by Fresh Food

U.K. shop-price inflation hit record highs across all categories in early March, lead by fresh food, according to the latest report by NielsenIQ and the British Retail Consortium released Tuesday.

Prices at U.K. stores in the period March 1-7 were 8.9% higher than the same period a year earlier. This compares a record increase of 8.4% in the same period a month prior, and a three-month average rate of 8.4%, according to the report.

China Boosts Lending to Struggling Belt and Road Borrowers

SINGAPORE-China's emergency support for borrowers from its Belt and Road infrastructure program has ballooned as foreign governments struggle under heavy debts, highlighting the extent of Beijing's bad loan problem as it works to overhaul its overseas lending strategy.

The scale of China's often-opaque assistance to borrowers in distress means Beijing has effectively established a new system for international rescue lending that exists alongside the International Monetary Fund and other Western institutions, according to new research published by the World Bank.

Recession looks less likely for U.S., these economists say, but a 'slog' still lies ahead

Despite the recent turmoil in the bank sector, a recession is still not the most likely outcome for the U.S. economy over the next two years, analysts at the Peterson Institute for International Economics said Monday.

"The data has been more resilient than we thought it would be," said Karen Dynan, a professor of the practice of economics at Harvard University, at a briefing for reporters ahead of the formal release of their semi-annual forecast.

Wind-power industry predicts rapid growth in 2023, just in time for Biden's offshore push

An optimistic global report on the outlook for wind energy issued Monday bodes well for recent announcements in the U.S., which is pushing offshore to try to harness more green-energy replacements for coal, oil and gas.

The Brussels-based trade association Global Wind Energy Council in a report projected 680 gigawatts of new global onshore and offshore wind will be installed by 2027. That represents enough wind to power about 657 million homes annually.

Congress Moves to Add 'Tranq' to Controlled-Drugs List

A bipartisan group of U.S. senators and representatives plans to introduce legislation to designate a veterinary tranquilizer worsening the fentanyl crisis as a controlled substance, aiming to help law-enforcement authorities crack down on illegal use.

Xylazine, known to some users as "tranq," is approved only for use in animals such as horses and cattle. But dealers have been adding it to the fentanyl supply at an alarming pace, potentially to reduce their costs and lengthen the high for users.

Kim Jong Un Says He Will Expand Production of Nuclear Material

SEOUL-North Korean leader Kim Jong Un called for expanding the production of nuclear material to boost the country's arsenal exponentially, saying his weapons program was aimed at defending the country.

Photos released by North Korean state media on Tuesday showed Mr. Kim inspecting new tactical nuclear warheads, called "Hwasan-31," for the first time. Around 10 red and green nuclear warheads were displayed alongside short-range ballistic missiles and long-range cruise missiles. He also reviewed plans for a nuclear counterattack and was briefed on a nuclear-weapons management system called "Haekbangashoe," which means nuclear trigger, state media said.

No 'Social Policy' in Chips Act Rules, Commerce Secretary Gina Raimondo Says

WASHINGTON-Republicans and Democrats are sparring over measures in the $53 billion Chips Act that the Biden administration says are needed to ensure the measure's success, but which Republicans say are an effort to pursue liberal social policies.

The Commerce Department has set rules for semiconductor companies seeking grants under the act that encourage the hiring of union workforces and economically disadvantaged individuals. Companies seeking more than $150 million must provide child care.

Israeli Protests Abate After Netanyahu Suspends Judicial Overhaul

JERUSALEM-Calm returned to Israeli cities Tuesday and protests against Israeli Prime Minister Benjamin Netanyahu's judicial overhaul dispersed after the premier agreed to suspend the controversial plan and Israeli President Isaac Herzog offered to host compromise talks between the two sides.

Hundreds of thousands of Israelis demonstrated on Sunday and Monday after Mr. Netanyahu fired his defense minister, Yoav Gallant, for calling to delay passing the first part of the government's plan to weaken Israel's judiciary. The country's largest labor union had called a general strike that grounded flights and closed banks and government offices.

Republican-Led Panel Issues Subpoena to State Department for Afghanistan Dissent Cable

WASHINGTON-The Republican-led House Foreign Affairs Committee issued a subpoena to the State Department for a 2021 dissent cable in which diplomats with the U.S. Embassy in Kabul called for a hastened evacuation and warned that the Taliban's takeover of the Afghan capital was imminent.

In a statement late Monday, committee Chairman Michael McCaul (R., Texas) said the panel made "multiple good faith attempts" to obtain the cable, adding "unfortunately, Secretary [of State Antony] Blinken has refused to provide the Dissent Cable and his response to the cable, forcing me to issue my first subpoena as chairman of this committee."

Trump Probe Places Manhattan D.A. Alvin Bragg in Spotlight

Manhattan District Attorney Alvin Bragg's pursuit of potential criminal charges against former President Donald Trump could provide a case for the history books while also testing one of New York City's top prosecutors, a newcomer to political office who built his career in state and federal law enforcement.

Mr. Bragg, 49 years old, took office in January of last year, becoming the first Black district attorney in Manhattan after winning the nomination in a crowded Democratic field and then triumphing in his first run for public office. He campaigned by touting his lengthy record in law enforcement, which includes stints with the U.S. attorney's office for the Southern District of New York and the New York attorney general, as well as sharing his personal experiences living with crime and aggressive policing while growing up in Harlem during the 1980s crack epidemic.

Write to ina.kreutz@wsj.com TODAY IN CANADA

Earnings:

Fire & Flower 4Q

Galaxy Digital 4Q

Economic Calendar (ET):

1600 Canadian annual federal budget presentation

Stocks to Watch:

Brookfield Renewable to Issue C$400M of Green Bonds

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Canacol Energy 4Q EPS $3.92; 4Q Net $133.7M

Canacol: For Remainder of 2023, Focused on Drilling of Up to 10 Exploration and Appraisal Wells in Continuous Program Targeting 2P Reserves Replacement Ratio of More Than 200%, Acquisition of 282 Square KM of 3D Seismic on VIM-5 Block to Expand Exploration Prospect Inventory

For Remainder of 2023, Continue to Progress Gas Pipeline Project From Jobo to Medellin, Return Cap to Hldrs in Form of Dividends and Shr Buybacks, Commitment of Strengthening Environmental, Social and Governance Strategy >CNE.T

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InterRent Reit Announces Acquisition Of 605-Suite Community With Joint-Venture Partners

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Lundin Mining to Acquire a Majority Interest in the Caserones Copper Mine in Chile; To Acquire 51% of Outstanding Equity of Lumina Copper From JX Nippon Mining & Metals;

To Pay $800M Up Front, $150M Deferred Cash Over Six Years; Will Have Right to Acquire Up to 19% Add'l Interest in Caserones for $350M; Would Have Boosted 2022 Copper Output by 50% With Caserones

Market Talk:

MT Headline: Canada Economy May See 2Q Decline, But Likely Avoids Recession

Even as Canada's economy demonstrates resilience, a drop is expected in 2Q, S&P said.

However, S&P also said it expects a 0.8% increase in real GDP for the year "as Canada likely avoids recession."

First-quarter real GDP is now expected to show a 0.4% annualized gain, S&P added.

S&P Global Ratings Economics "expects Canadian economic activity to dip 0.6% in the second quarter on continued declines in housing, a slowdown in consumer spending, and weakening exports as the US falls into recession."

Expected Major Events for Tuesday

06:45/FRA: Mar Monthly business survey (goods-producing industries)

08:00/ITA: Mar Consumer Confidence Survey

08:00/ITA: Mar Business Confidence Survey

12:30/US: Feb Advance Economic Indicators Report

12:55/US: 03/25 Johnson Redbook Retail Sales Index

13:00/US: Jan U.S. Monthly House Price Index

13:00/US: Jan S&P CoreLogic Case-Shiller Indices

14:00/US: Mar Richmond Fed Business Activity Survey

14:00/US: Mar Consumer Confidence Index

16:00/US: Annual Industrial Production and Capacity Utilization annual revision

17:00/US: Feb Money Stock Measures

20:30/US: 03/24 API Weekly Statistical Bulletin

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Expected Earnings for Tuesday

9 Meters Biopharma Inc (NMTR) is expected to report for 4Q.

Aadi Bioscience Inc (AADI) is expected to report for 4Q.

Acer Therapeutics Inc (ACER) is expected to report $-0.88 for 4Q.

Acerus Pharmaceuticals Corp (ASP.T) is expected to report for 4Q.

Apollo Endosurgery Inc (APEN) is expected to report $-0.22 for 4Q.

Arcturus Therapeutics Holdings Inc (ARCT) is expected to report for 4Q.

Aspen Group Inc (ASPU) is expected to report $-0.08 for 3Q.

Athersys (ATHX) is expected to report for 4Q.

Berkshire Grey Inc (BGRY) is expected to report for 4Q.

Biolase Inc (BIOL) is expected to report for 4Q.

Core & Main Inc (CNM) is expected to report for 4Q.

Corvus Pharmaceuticals Inc (CRVS) is expected to report $-0.23 for 4Q.

Creative Media & Community Trust Corp (CMCT) is expected to report for 4Q.

Crossroads Impact Corp (CRSS) is expected to report for 1Q.

Danimer Scientific Inc (DNMR) is expected to report for 4Q.

FTI Consulting (FCN) is expected to report $1.67 for 4Q.

Firm Capital Mortgage Investment Corp (FC.T) is expected to report for 4Q.

Fresh Tracks Therapeutics Inc (FRTX) is expected to report for 4Q.

Galiano Gold Inc (GAU,GAU.T) is expected to report for 4Q.

Giga-Tronics Inc (GIGA) is expected to report for 3Q.

Hallmark Financial Services Inc (HALL) is expected to report for 4Q.

HyreCar Inc (HYRE) is expected to report $-0.16 for 4Q.

ICAD (ICAD) is expected to report $-0.14 for 4Q.

Invacare Corp (IVCRQ) is expected to report $-0.36 for 4Q.

Lovesac Co (LOVE) is expected to report $1.73 for 4Q.

McCormick & Co (MKC) is expected to report $0.49 for 1Q.

P & F Industries Inc (PFIN) is expected to report for 4Q.

PDS Biotechnology Corp (PDSB) is expected to report $-0.26 for 4Q.

ProPhase Labs (PRPH) is expected to report for 4Q.

Reliv International Inc (RELV) is expected to report for 4Q.

SPAR Group Inc (SGRP) is expected to report for 4Q.

STRATA Skin Sciences Inc (SSKN) is expected to report $-0.04 for 4Q.

Soligenix Inc is expected to report for 4Q.

TD SYNNEX Corp (SNX) is expected to report $2.17 for 1Q.

Vincerx Pharma Inc (VINC) is expected to report for 4Q.

VirnetX Holding Corp (VHC) is expected to report for 4Q.

Walgreens Boots Alliance Inc (WBA) is expected to report $0.78 for 2Q.

XWELL Inc (XWEL) is expected to report for 4Q.

Zynerba Pharmaceuticals Inc (ZYNE) is expected to report $-0.19 for 4Q.

iMedia Brands Inc (IMBI) is expected to report for 4Q.

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ANALYST RATINGS ACTIONS

Berkshire Grey Cut to Hold From Buy by Craig-Hallum

Caterpillar Cut to Underperform From Neutral by Baird

Conmed Raised to Overweight From Sector Weight by Keybanc

Corning Raised to Buy From Hold by Deutsche Bank

Digital Realty Cut to Market Perform From Outperform by BMO Capital

DISH Network Cut to Neutral From Buy by UBS

Equinix Raised to Outperform From Market Perform by BMO Capital

Frontier Comms Parent Cut to Underweight From Equal-Weight by Morgan Stanley

JM Smucker Raised to Buy From Hold by Argus Research

KeyCorp Raised to Buy From Neutral by Citigroup

Leidos Holdings Cut to Hold From Buy by Jefferies

M&T Bank Raised to Buy From Neutral by Citigroup

Marqeta Raised to Outperform From Peer Perform by Wolfe Research

Ollie's Bargain Outlet Cut to Sell From Neutral by Citigroup

Pinterest Raised to Buy From Neutral by UBS

Regeneron Pharma Raised to Outperform From Market Perform by SVB Leerink

Remitly Global Cut to Peer Perform From Outperform by Wolfe Research

Roku Raised to Positive From Neutral by Susquehanna

United Rentals Cut to Underperform From Neutral by Baird

Unity Biotechnology Shares Plumb New Depths After Study Setback

Victory Capital Raised to Overweight From Underweight by Piper Sandler

Virtus Invest Partners Raised to Overweight From Neutral by Piper Sandler

Wingstop Cut to Underperform From Hold by Jefferies

This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

March 28, 2023 06:17 ET (10:17 GMT)

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