When competition worsened for the solar energy sector, due to excessive exports from Chinese suppliers, First Solar (FSLR) sold off. The stock peaked at $306.77 before pulling back to $231.11. Speculators are betting that the downtrend ended.
Morgan Stanley called clean energy stocks like NextEra Energy (NEE). Constellation Energy (CEG), and Vistra (VST) a buy. The analyst is also bullish on FSLR and AES stock.
The on-again and off-again buyout of Paramount (PARA) sent the stock price up by 6.9%. CNBC reported that Skydance media returned to the negotiation table. It will buy 50% of PARA Class B stock for $15 each. Paramount’s controlling shareholder, Shari Redstone, will get $1.75 billion for National Amusements.
In the drugstore sector, Walgreens Boots (WBA) continued its unexpected decline. WBA stock lost 30% in the last month. Selling pressure accelerated after the firm posted weak quarterly results on June 27, 2024.
Constellation Brands (STZ) re-tested the $250 support level. It reported revenue growing by 6.0% Y/Y to $2.66 billion, thanks to strong beer sales.
Humana (HUM) lost 3.19% on Wednesday, despite Mizuho calling the stock July’s top pick. The analyst also picked Axome Therapeutics (AXSM), LivaNova (LIVN), Wave Life Sciences (WVE), and Arcutis Biotherapeutics (ARQT).
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