Stocks making the biggest moves before the bell: McDonald's, Tesla, Stellantis and more
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 29 2024
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Source: CNBC
Market Reactions to Earnings Reports: McDonald's shares fell after missing earnings expectations and reporting a decline in same-store sales, while Revvity's shares rose 6% following better-than-expected results. Other notable movements included Olin and Akamai Technologies gaining on upgrades, while Bristol-Myers Squibb and Stellantis faced downgrades.
Impact of External Factors on Stocks: Tesla's stock increased after being named the top U.S. auto pick by Morgan Stanley, while Disney saw a slight rise due to strong box office performance from "Deadpool & Wolverine." Meanwhile, Coinbase and Microstrategy benefited from a rise in Bitcoin prices.
Analyst Views on AKAM
Wall Street analysts forecast AKAM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AKAM is 101.50 USD with a low forecast of 89.00 USD and a high forecast of 115.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
9 Buy
7 Hold
0 Sell
Moderate Buy
Current: 97.030
Low
89.00
Averages
101.50
High
115.00
Current: 97.030
Low
89.00
Averages
101.50
High
115.00
About AKAM
Akamai Technologies, Inc. is a cybersecurity and cloud computing company. The Company develops and provides solutions for global enterprises to build, secure and accelerate their applications and digital experiences. Akamai Connected Cloud, the Company's platform, is comprised of an edge and cloud architecture and underlying network for cloud computing, security and content delivery services. Its cloud computing services include compute, storage, networking, database and container management services that are required to build, deploy and secure applications and workloads. Its security solutions are designed to keep infrastructure, websites, applications, application programming interfaces and users safe from a multitude of cyberattacks and online threats while improving performance. Its content delivery solutions consist of Web and mobile performance focused solutions and media delivery solutions. It also specializes in serverless WebAssembly function-as-a-service (FaaS) technology.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
