The US stock market is mixed on Tuesday amid news in the M&A space and Institute for Supply Management’s data that showed non-manufacturing index slump to 51.4, the lowest in six years.
Among the stocks that are trending today are Gilead Sciences, Inc. (NASDAQ:GILD), Goodyear Tire & Rubber Co (NASDAQ:GT), General Electric Company (NYSE:GE), 3D Systems Corporation (NYSE:DDD), and Stratasys, Ltd. (NASDAQ:SSYS). Let’s take a closer look at the latest news surrounding each company and find out what the investors we track at Insider Monkey think about the companies in question.
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Upgrade at Gilead Sciences
Gilead Sciences, Inc. (NASDAQ:GILD)’s shares are 1.4% in the green today after analysts at Jefferies upgraded the stock to ‘Buy’ from ‘Hold’, citing confidence in the company’s HIV treatment prospects. The analysts also think Gilead’s stock already reflects any potential decline in the company’s core HCV franchise and doesn’t give credit to any potential upside pipeline surprises. Like the price action of other big pharma stocks, shares of Gilead have been beaten up in recent weeks due to the Mylan EpiPen controversy and the resulting worries over potential government price regulations for drugs in the future. Jefferies has a $91 price target on Gilead’s stock. Phill Gross and Robert Atchinson‘s Adage Capital Management trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 5% to slightly over 1.65 million shares during the second quarter.
Goodyear Gets Thumbs Up
Goodyear Tire & Rubber Co (NASDAQ:GT) is 4% higher after Deutsche Bank upgraded the tire maker to ‘Buy’ from ‘Hold’ and set a $37 price target on the stock. Analysts at the investment bank upgraded the stock because they like Goodyear’s EPS growth potential and its increased capital returns to shareholders. Given the low oil prices, consumers are driving more, and demand for tires should increase, all else equal. A total of 34 funds from our database owned shares of Goodyear Tire & Rubber Co (NASDAQ:GT) at the end of the second quarter, down by two from the previous quarter.
On the next page, we examine why General Electric Company, 3D Systems Corporation, and Stratasys are in the news.