Starboard seeks to oust entire Yahoo board; KB Home tops earnings; UBS starts Wells Fargo at sell rating
It’s time for your daily dose of trending tickers, the stocks you're following based on your Yahoo Finance ticker searches.
Yahoo (YHOO) – Activist investor Starboard Value wants to replace Yahoo’s entire board. The activist investor nominated nine directors to Yahoo's board, saying that it failed to deliver results for shareholders.
KB Home (KBH) – The home-building company reported better than expected first quarter 2016 results, with adjusted earnings per share of $0.14 on revenue of $678.4 million and a 5% increase in average selling price to $344,400. KB Home CEO Jeff Mezger noted that the company was “well positioned entering 2016 with a sizable year-end backlog” in the earnings call.
Wells Fargo (WFC) – UBS (UBS) initiates coverage on Wells Fargo with a sell rating and a price target of $45.00. Analyst Brennan Hawken noted risks to Wells Fargo’s revenue growth and credit performance.
Apple (AAPL) – Re/code is reporting that Apple Pay will be available to use through the Safari mobile web browser before the holiday shopping season. Also, the tech giant’s two new devices—the 4-inch iPhone SE and 9.7-inch iPad Pro—are available today to pre-order ahead of their March 31st availability.
Walt Disney (DIS) — The company threatened to stop filming in Georgia if the state’s "religious liberty" bill, which is on the desk of Governor Nathan Deal, is signed into law. Deal has until May 3rd to veto it.
Petrobas (PBR) – Deutsche Bank downgraded its rating on Petrobroas, cutting it to a sell from hold while reducing its price target on the stock.
Nomura (NMR) – More job cuts on Wall Street. Bloomberg is reporting that Nomura is planning to eliminate jobs in North America in an effort to slim operations amid a trading drop.
