Stocks to Watch: YHOO, CSCO, CHK & More
Take a look at some of Friday's morning movers:
McDonald's - The fast-food chain and Dow component said global same-store sales rose a disappointing 3.3 percent in May, hit primarily by weakness outside the U.S.
FedEx - FedEx Freight announced it will increase shipping rates by 6.9 percent effective July 9th. The package delivery company previously announced increases in shipping rates for FedEx Express and FedEx Ground that were effective on Jan. 2.
Yahoo - Bernstein upgraded the Internet company with an "outperform" rating from "market perform" and boosted its price target to $19 from $17.
Cisco - Citigroup initiated coverage of the tech bellwether with a "buy" rating.
Chesapeake Energy - The energy company announced it will sell its pipeline and related assets in three separate transactions in a deal worth $4 billion, which will help cover a $9 billion to $10 billion funding shortfall in the next three years. Chesapeake is also scheduled to hold its shareholders meeting this morning.
Meanwhile, Citigroup cut its price target on several banks including Wells Fargo , Zions, SunTrust, KeyCorp, First Horizon National, M&T Bank and First Niagara Financial.
Citigroup cut its rating on Lennar and Beazer to "sell" and raised its rating on D.R. Horton and Pulte to "buy." In addition, the brokerage boosted its price target on Ryland and Meritage to $22 from $20.50 and to $28 from $18, respectively. Meanwhile, Citi lowered its price target on KBHome to $8 from $11.50.