Twitter (TWTR) shares fell 3% after it was downgraded to sell from hold by Cantor Fitzgerald. Analysts explained they downgraded the stock because they find Twitter's "valuation to be excessive and see materially more downside than upside." They also preferred Facebook (FB) and Google (GOOG) over Twitter. This news comes just two days after Morgan Stanley downgraded Twitter to underweight from equalweight.
Constellation Brands (STZ) saw its stock soar 9% after it reported earnings this morning and raised its outlook. The beverage company posted adjusted earnings of $1.10 per share, up 75 percent from a year ago, beating estimates of 91 cents. Revenue rose 88 percent to $1.44 billion beating estimates of $1.39 billion. Constellation also raised its 2014 guidance to $3.10 - $3.20 per share from $2.80 - $3.10.
J.C. Penney (JCP) continued its week long spiral today, falling for the fifth straight trading session, finishing the day down nearly 10%. The retailer released a response to the drop to ease investors, but ended up only causing worry. J.C. Penney said that it was pleased with its holiday season performance and that it was making "continued progress in its turnaround efforts," but gave no specific numbers to back up those claims.
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- Consumer Discretionary
- Company Earnings
- Cantor Fitzgerald