Stocks on the move: Beyond Meat on JPM downgrade, U.S. Steel on improving market conditions
Yahoo Finance's On the Move panel discuss today's Stocks on the move: Beyond Meat and United States Steel Corp.
Video Transcript
JULIE HYMAN: Let's take a look at a couple stocks to break here. We've got Beyond Meat shares down about 6% today. JPMorgan downgraded the stock to an underweight from neutral. The price target at $122 a share. They cite valuation because the stock has been rallying as well as intensifying competition for the reasons for that downgrade.
US Steel shares are going up about 6%. The company has said market conditions have improved in the past few months, and they came out with third quarter guidance for a loss of 145 a share. Analysts had been predicting a wider loss of $1.52. So that's what's responsible for the gain in those shares today.
