(JNJ) was falling 1.1% after a bankruptcy judge tossed out the second chapter 11 case that the healthcare giant filed in its ongoing effort to settle tens of thousands of lawsuits it faces from plaintiffs who say they were harmed by the company’s talc products.
(WMT) paid $1.4 billion to buy Tiger Global’s remaining stake in Flipkart, the Indian e-commerce giant, The Wall Street Journal reported.
In recent days, Walmart bought the remaining shares of Flipkart owned by Tiger Global, according to a letter that hedge-fund Tiger Global sent to its investors that was reviewed by the Journal.
paid $16 billion for a 77% stake in the privately held Flipkart in 2018, but recently its stake stood at about 75%, according to the Journal. The transaction values Flipkart at $35 billion, down from $38 billion when Flipkart sold shares in 2021. Walmart shares dipped 0.2% in premarket trading.
Advertisement – Scroll to Continue
(CVX) was upgraded to Buy from Neutral at
with a price target of $187.
last week reported second-quarter earnings of $6 billion, down from a quarterly profit record of $11.6 billion in the same period a year earlier. The stock rose 1.7% to $161.51.
American depositary receipts of
(XPEV) were falling 4.7% to $22.30 after the Chinese electric-vehicle maker was downgraded to Neutral from Buy at
with a price target of $23, but was upgraded to Neutral from Underweight at
Jefferies upgraded
to Buy from Hold on Friday.
(W) was upgraded to Overweight from Neutral at
with a price target of $97, up from $35. The stock was rising 4.8% in premarket trading to $76.56.
Earnings reports are expected Monday from
(ANET),
(ON),
(WDC),
(ZI), and
(SOFI), which is forecast by Wall Street to post a first-quarter loss of 7 cents a share on revenue of $474 million.
Advertisement – Scroll to Continue
shares were up 7.1% in premarket trading.
Reports are expected Tuesday from
(AMD),
(CAT),
(PFE), and
(SBUX); Wednesday will see earnings from
(CVS),
(PYPL), and
(QCOM);
(AAPL),
(AMZN), and
(BABA) are scheduled for Thursday.
Write to Joe Woelfel at joseph.woelfel@barrons.com
Read More:SoFi, J&J, Wayfair, Apple, Amazon, and More Stock Market Movers
2023-07-31 10:20:00
