Here’s a look at some of the companies the Yahoo Finance team will be watching for you today.
Nike is on the move, after an upgrade at Oppenheimer. Analysts there just rated the stock “outperform,” saying the shoe giant’s digital strategy is the right move to drive sales. They also set a $90 a share price target, nearly 20% above current levels.
Another Executive is out at Tesla This time the VP of manufacturing. Gilbert Passin reportedly left the company over the summer but word is only now getting out. Tesla has been dealing with a series of high-profile departures in recent months, including the heads of HR, accounting and engineering.
The end of an era at beer and wine giant Constellation Brands, the company behind corona. The CEO, Rob Sands, will step down from the top role in March and become Executive Chairman. Sands guided Constellation through a major expansion, including a $4M dollar bet on marijuana company Canopy Growth. His successor, Bill Newlands, will become the first person outside the Sands family to lead the company.
IHOP’S parent company, Dine Brands Global, is trying something different. How about booze with your pancakes? It just opened a new restaurant in Phoenix that offers beer, wine and cocktails. The location used to be Lone Star Steakhouse, so it already had a liquor license. The franchise owner says they pitched the idea to IHOP’s corporate office which signed off.
Food company, Beyond Meat, is reportedly moving closer to an IPO. CNBC says the company behind vegetarian burgers and other products has hired JP Morgan, Goldman Sachs and Credit Suisse to help with their public offering. Beyond Meat counts Bill Gates, Leonardo DiCaprio and Jack Welch among its investors.