The S&P 500 is making another attempt to break its three-day losing streak, with the Federal Reserve acknowledging the possibility of no interest rate cuts this year. United Airlines reported positive figures, including narrower losses and better-than-expected revenue, despite cutting aircraft-delivery expectations due to Boeing issues. Abbott Laboratories exceeded expectations in their first-quarter earnings, raising their full-year EPS range and organic sales growth.
Eli Lilly’s weight loss drug is showing promise as a treatment for sleep apnea in late-stage trials, with a potential reduction of up to 63%. Bank rankings after first-quarter earnings show Morgan Stanley and Wells Fargo leading the pecking order. Semiconductor equipment maker ASML saw a plunge in orders, raising concerns about demand for companies like Nvidia. Barclays increased the price target for Broadcom while Wells Fargo raised the target for Microsoft, citing a stable and improving backdrop for cloud computing. Additionally, analysts recommend Club names like Amazon, Meta Platforms, and Alphabet ahead of earnings. Wells Fargo also raised the price targets for Devon Energy and Coterra Energy, signaling newfound confidence in these stocks. JPMorgan, on the other hand, lowered the price target for 3M, while Honeywell faces challenges after being downgraded by Deutsche Bank for being too diverse in its business operations.