Coinbase shares fall after the stock received a downgrade from Piper Sandler. UPS shares slip as the company ends labor negotiations with Teamsters. Hertz stock rises as Jefferies initiates coverage on the company. Yahoo Finance Live takes a look at some of the trending tickers of the day.
Video Transcript
DIANE KING HALL: We're just about 30 minutes or so into the trading day. We're watching shares of Coinbase, the stock dipping this morning after Piper Sandler cut its rating on the crypto platform to neutral from overweight. The analyst also dropping the price target for the stock to 60 from 65. So it's still got a ways to go. The price target is set to 60 there. So Coinbase under a little bit of pressure this morning.
BRAD SMITH: We're also watching shares of UPS. Shares are slipping as labor talks between the logistics company and Teamsters hit a roadblock. UPS says the union stopped negotiating, while Teamsters claimed the package delivery company walked away after the group rejected an offer. The two have less than a month to come to an agreement and avoid business halting strikes.
DIANE KING HALL: Meantime, we're looking at Hertz. That stock popping today as Jefferies analyst Stephanie Moore initiates coverage of the company with a buy rating and a $25 price target. The analyst pointed to potential upsides in pricing and margins as well as the company's partnership with Uber to rent Teslas. Hertz still coming out of its 2020 bankruptcy filing. So you're seeing a little bit of a gain there, up a percent.
