Manchester United, SolarEdge, Prologis: Trending tickers
Manchester United (MANU) lowered its full-year sales forecast, citing early elimination from the lucrative Champions League soccer tournament.
Barclays downgraded solar company SolarEdge (SEDG) from "Equal-Weight" to "Underweight" on expectations for slower growth in residential solar stocks.
Prologis (PLD) shares fell Wednesday after the REIT's fourth-quarter revenue missed Wall Street estimates. Looking ahead to 2024, Prologis CEO and co-founder Hamid Moghadam wrote "While uncertainties remain in the economic and geopolitical environment, we are positive about the outlook for 2024."
Yahoo Finance's Seana Smith and Bradley Smith break down the details of these trending tickers.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Angel Smith.
Video Transcript
SEANA SMITH: Let's start with Manchester. Manchester United's exit from the lucrative Champions League is going to cost the football club, the company, out with its first update since billionaire Jim Ratcliffe bought a stake in the company. That was revealed at the end of December. But Man U, lowering its sales forecast for the year, now expects revenue between $805 million, $843 million. The reason for this is because of the early exit from the Champions League, and the purse that you would get if you did win that. So potentially, it does look like a big financial hit here for the company.
BRAD SMITH: Absolutely. Also, we're tracking Barclays today issuing a downgrade on SolarEdge today. It's lowering its outlook to underweight from equal weight, and also cutting its price target by almost a quarter to $50 from $74. The reason, slower anticipated growth this year, and the need for price reductions.
SEANA SMITH: All right, and Prologis, the real estate play that invests in logistics facilities, out with mixed quarterly results, also warning of economic and geopolitical uncertainty for the year ahead now. Despite this caution though, Prologis did raise its full year earnings guidance, and now expects $3.20 a share to $3.45 per share for earnings per share.
