Futures higher after Wall St slumps; Lyft's guidance error - what's moving markets

OpenAI developing web search product - The Information

A report from TheInformation claimed Wednesday that OpenAI is developing a web search product that could challenge Google and Bing.

The service would be partly powered by Bing, according to the report, which cites someone with knowledge of OpenAI's plans. The search tool is said to be... More

Wells Fargo Resumes Cisco (CSCO) at Equal Weight

Wells Fargo analyst Aaron Rakers resumes coverage on Cisco (NASDAQ: CSCO) with a Equal Weight rating and a price target of $52.00.

The analyst comments "We resume coverage of CSCO at Equal Weight; $52 PT. We see the -5% post-close move in CSCO shares as... More

Macquarie Downgrades Sony Corp. (6785:JP) (SONY) to Neutral

Macquarie analyst Damian Thong downgraded Sony Corp. (6785:JP) (NYSE: SONY) from Outperform to Neutral with a price target of JPY15,000.00.

The analyst comments "With Sony near our target price and market expectations at risk given lacklustre FY3/25 guidance, we are downgrading to Neutral. We... More

Yesterday's hot CPI could be the start of a pullback - Sevens Report

In its latest note Wednesday, Sevens Research Report addressed the key questions following the January CPI data, stating it wouldn't be surprising if it represented the start of a pullback.

With stocks dropping sharply following the "hot" data, Sevens said yesterday's CPI didn't really change the conversation on disinflation.

"Instead, it just... More

The USD will remain strong as long as the Fed signals its 'new paradigm' - Macquarie

Macquarie analyst Thierry Wizman said in a note Wednesday that recent comments from Federal Reserve officials suggest the Fed has been thinking about a "new paradigm".

The firm, which noted the comments come alongside strong US growth and higher inflation prints, said the Fed has been considering the... More

UBS on Kraft Heinz Company (KHC): 'Initial Reaction: Mixed'

UBS analyst Cody Ross reiterated a Neutral rating and $39.00 price target on Kraft Heinz Company (NASDAQ: KHC).

The analyst comments "Based on our conversations with investors, sentiment heading into 4Q was mixed. There continued to be hope that KHC could potentially deliver/guide to FY24 EPS above Street, but with shares having performed... More

Deutsche Bank on Kraft Heinz Company (KHC): 'We view today's results as relatively disappointing'

Deutsche Bank analyst Steve Powers reiterated a Buy rating and $42.00 price target on Kraft Heinz Company (NASDAQ: KHC).

The analyst comments "We view today's results as relatively disappointing. Although FY24 estimates are unlikely to move materially based on guidance, FY4Q organic sales (-0.7% vs.... More

Wells Fargo says history suggests at least a 5% drop in S&P 500

History suggests there will be at least a 5% slide in the S&P 500, according to Wells Fargo in a note Wednesday.

While not providing further details on the claim, the bank's equity analyst Christopher Harvey said in his brief note that an equity sell-off was sighted yesterday, and the... More