Twitter downgrade; Walmart takes on Amazon’s Prime Day; Netflix warning
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Twitter (TWTR) – SunTrust downgraded Twitter to neutral from buy on concerns over user growth and monetization challenges. Twitter also announced it has reached a deal with CBS to live-stream the Democratic and Republican National Conventions later this month.
Wal-Mart (WMT) – The retail giant is taking on Amazon’s Prime Day by offering free shipping this week with no minimum purchase. This offer will be in addition to its recently launched 30-day free trial of ShippingPass, which offers unlimited 2-day shipping for $49 per year.
Netflix (NFLX) – The online streaming giant is on investors’ radars after a Barron’s article warned that the stock could drop 40%. The article cited content spending as the biggest risk to Netflix.
Ford (F) – The auto giant is out with details on its new 2017 F-150. Ford says its 3.5-liter EcoBoost V6 engine and 10-speed automatic transmission will be set to go this fall.
ConocoPhillips (COP) – JPMorgan has upgraded ConocoPhillips to neutral from underweight with a $44 price target.
