Accenture, AIG, Kenvue: Trending Tickers
Irish-American tech company Accenture (ACN) reports a weaker-than-expected second-quarter revenue outlook. BMO Capital Markets upgrades American International Group (AIG) stock to “Outperform." Lastly, Kenvue (KVUE) stock ticks up following a favorable ruling in a product-liability case.
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Video Transcript
BRAD SMITH: Here's a look at how things are shaping up right now. Stocks rallying higher, as hopes for the Fed rate cuts in 2024. They're remaining persistent here.
SEANA SMITH: And taking a look at some of the individual movers. Accenture is on the move this morning after reporting a weaker-than-expected revenue outlook for its current quarter. We're looking at shares off just about 1%. Now, despite the rise in customers coming to them for generative AI services, the Irish-American company saying that foreign exchange rates are expected to take a bite out of revenue.
BRAD SMITH: And shares of American International Group, or AIG, getting a boost on an upgrade from BMO Capital Markets to outperform from market perform. The analyst wrote in a note to clients that lower protection limits and more reinsurance protection helps ease worries over the firm's reserves.
SEANA SMITH: And Kenvue shares are on the move this morning, after getting a win in its court case that falsely claimed prenatal exposure to Tylenol could contribute to autism or ADHD. The judge wrote that the plaintiffs, quote, do not have admissible evidence to back their claims, ruling in favor of Kenvue.
