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
Today's Top Headlines/Must Reads:
- Top Bank Regulators to Face Senate Questions Over SVB,
- 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
- U.S. and Japan Strike Deal on Minerals Used in Batteries for
- Kim Jong Un Says He Will Expand Production of Nuclear
Follow WSJ market coverage here
Stock futures were higher on Tuesday as the bank angst continued
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
"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
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
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.
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,"
"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
"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
The dollar was lower in early European trading, as improved
global risk sentiment reduced demand for safe haven assets, MUFG
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.
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
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
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
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.
Volatility is the big "winner" in this banking crisis, Natixis
"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
"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
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.
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."
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
"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
HOUSTON-Wael Sawan knows he is about to make some people very
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
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
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
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
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
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,
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
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
Multinationals Slam New EU Foreign-Subsidy Law's Reporting
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Israeli Protests Abate After Netanyahu Suspends Judicial
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 email@example.com TODAY IN CANADA
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
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
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
InterRent Reit Announces Acquisition Of 605-Suite Community With
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
MT Headline: Canada Economy May See 2Q Decline, But Likely
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
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
17:00/US: Feb Money Stock Measures
20:30/US: 03/24 API Weekly Statistical Bulletin
All times in GMT. Powered by Onclusive and Dow Jones.
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
Acerus Pharmaceuticals Corp (ASP.T) is expected to report for
Apollo Endosurgery Inc (APEN) is expected to report $-0.22 for
Arcturus Therapeutics Holdings Inc (ARCT) is expected to report
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
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
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
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
PDS Biotechnology Corp (PDSB) is expected to report $-0.26 for
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
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
XWELL Inc (XWEL) is expected to report for 4Q.
Zynerba Pharmaceuticals Inc (ZYNE) is expected to report $-0.19
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
DISH Network Cut to Neutral From Buy by UBS
Equinix Raised to Outperform From Market Perform by BMO
Frontier Comms Parent Cut to Underweight From Equal-Weight by
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
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
Remitly Global Cut to Peer Perform From Outperform by Wolfe
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
Victory Capital Raised to Overweight From Underweight by Piper
Virtus Invest Partners Raised to Overweight From Neutral by
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)
Copyright (c) 2023 Dow Jones & Company, Inc.