My top 10 things to watch Thursday
1. Former Club name Qualcomm (QCOM) is a true disaster. Despite an insistence that everything is fine, handsets and auto were weaker. Deutsche Bank lowers the semiconductor firm to hold from buy, while lowering the price target to $121 a share, from $130.
2. Shopify (SHOP) continues to pump it out and has become the de-facto challenger to Club holding Amazon (AMZN) when it comes to the fulfillment and ease of check-out. Amazon is set to report quarterly results Thursday after the closing bell.
3. PayPal Holdings (PYPL) has way too much competition and is now starting to make some bad loans. Nothing here to witness or buy, as the company receives a series of downgrades from Wall Street firms.
4. Jefferies on Thursday downgrades Southwest Airlines (LUV) to underperform, or sell, from hold. The firm also lowers its price target on the airline to $25 a share, from $40. The analysts are really turning on this once best-in-show name.
5. DuPont (DD), a Club Bullpen name, doesn't make the numbers. But, in a very good sign, Barclays raises its price target on the chemicals firm to $77 a share, from $70, while maintaining the equivalent of a neutral rating on the stock.
6. Mizuho raises its price target on Club name Emerson Electric (EMR) to $95 a share, from $90, while maintaining a neutral rating on the stock. The company on Wednesday delivered strong quarterly results, sending shares up by roughly 4%.
7. Wells Fargo raises its price target on Club holding Costco Wholesale (COST) to $510 a share, from $475, while maintaining an equal-weight rating on the stock. While the firm called the wholesale retailer a quality name, it said it doesn't find the risk-reward attractive.
8. Truist raises its price target on Club insurer Humana (HUM) to $550 a share, from $530, while maintaining a hold rating on the stock. The firm called Humana's second-quarter results, released Wednesday, "solid."
9. CVS Health (CVS) makes the numbers but the price targets are very high. Still, Barclays lowers its price target to $86 a share, from $89, after CVS' "modest" second-quarter beat.
10. TD Cowen downgrades Columbia Sportswear (COLM) to market perform, or neutral, from a buy equivalent on expectations the stock's valuation de-rating will continue. The firm lowered its price target on COLM to $83 a share, from $94.
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