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Discover the companies that hit the headlines Tuesday before marketing:
Acacia Communications – Acacia shares jumped 38% after Cisco Systems' announcement of a $ 70 share price, or about $ 2.6 billion. The agreement is expected to be finalized during the second half of the 2020 Cisco exercise.
PepsiCo – The beverage and snack maker has reported quarterly results above expectations, pushing its stock up 1% since it hit the market. PepsiCo achieved adjusted earnings per share of $ 1.54 on a turnover of $ 16.45 billion. Analysts surveyed by Refinitiv were expecting a profit of 1.50 USD per share for a turnover of 16.43 billion USD.
Piper Jaffray – The investment bank has announced the purchase of Sandler O'Neill for $ 485 million. Piper will pay $ 350 million in cash to Sandler shareholders and $ 135 million in shares. The amalgamated company will call Piper Sandler Companies. Both companies plan to finalize the agreement by January 2020.
3M – 3M shares fell by more than 1% after an badyst at RBC Capital Markets degraded the Dow component by calling it a "sector performance" of "outperforming". The badyst also lowered its stock price target from $ 207 to $ 176 per share. "After a series of scary guiding cuts, 3M's reputation as a defensive and high-quality industry is eroding," said the badyst.
Chewy – J.P. Morgan initiated coverage of the online pet food retailer with an "overweight" rating and a price target of $ 42 per share, citing a market share of approximately 50%. Analysts UBS and Wells Fargo also initiated the action with positive ratings.
Snap – Credit Suisse has raised its Snap price target to US $ 15 per share from US $ 15 per share, with the social media company still having "significant room for maneuver to increase advertising view of revenue growth ".
Hilton Worldwide, Marriott International – An badyst at JP Morgan downgraded hotel operators to "neutralize" the "overweight", recent stock performance, high valuations, "a prolonged cycle and a slowdown in equity trends. sector suggesting a decline in potential.
Square – Raymond James upgraded Square from "underperformance" to "market performer", citing a more attractive risk / reward balance. "Although the stock remains expensive … we think the B2B / Seller card is gaining ground and could give enough momentum to exceed expectations in 2H19," Raymond James said.
Facebook – The company said that she had not been invited to a White House summit to be held later this week. President Donald Trump has regularly criticized Facebook for its "bias" against Republicans.
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