CART

Market Performance: Major US stock indexes closed lower on Thursday, with the S&P 500 down 0.40%, influenced by concerns over consumer spending following Walmart's disappointing earnings and rising bond yields.

Labor Market Indicators: Weekly jobless claims rose to a two-month high of 235,000, indicating a weaker labor market than expected, while continuing claims reached a 3.75-year high of nearly 2 million.

Economic Reports: The Philadelphia Fed business outlook survey fell significantly, while manufacturing PMI unexpectedly increased to a three-year high. Existing home sales also rose more than anticipated.

Geopolitical Developments: US negotiations regarding the Ukraine conflict are ongoing, focusing on security guarantees and territory, while President Trump announced new tariffs affecting various consumer goods, including steel and semiconductors.

Instacart's Market Challenges: Instacart is facing increased competition from Amazon, which is expanding its grocery delivery services and offering same-day delivery for perishable items, threatening Instacart's market share.

Analyst Downgrade: Wedbush analyst Scott Devitt downgraded Instacart's stock from Hold to Sell, reducing the price target by 24% to $42 due to concerns over competition and growth potential.

Growth Projections Adjusted: Devitt expects slower growth for Instacart's gross transaction value (GTV), projecting mid- to low-single digit growth rates and lowering estimates for Q4 and full-year 2026.

Wall Street Consensus: Despite the downgrade, analysts maintain a Moderate Buy consensus on Instacart stock, with an average price target of $59.32, indicating a potential upside of 33.8%.

Coty's Quarterly Results: Coty's shares dropped over 20% despite beating revenue expectations, reporting $1.25 billion against a forecast of $1.20 billion, but posted a loss per share of 5 cents, missing the anticipated earnings.

Paramount Skydance Performance: Shares of Paramount Skydance surged 15%, driven by better-than-expected second-quarter earnings and an unexpected profit in its streaming division.

Xpeng Stock Surge: U.S. shares of Xpeng rose more than 14% after CEO Xiaopeng He purchased a significant number of shares, following a report of better-than-expected revenue and a narrower loss for the second quarter.

Walmart and Other Companies' Movements: Walmart's stock fell over 4% despite beating revenue estimates, while Nordson's shares increased by 5% due to strong earnings; Cracker Barrel's stock declined 14% amid logo criticism, and Hewlett Packard Enterprise gained 3% after an upgrade from Morgan Stanley.