In This Article:
Here are some of the stocks on the move on Monday, May 5.
On Semiconductor (ON) shares slipped after reporting first quarter results. The company's outlook for Q2 adjusted gross margins fell short of expectations.
Wendy's (WEN) was upgraded to Overweight at JPMorgan, while Seaport upgraded Reddit (RDDT) to a Buy.
Learn more about the calls in the video above.
To watch more expert insights and analysis on the latest market action, check out more Wealth here.
It's now time for some of today's trending tickers. We're checking in on ON Semiconductor, Wendy's, and Reddit. First up, ON Semi, falling after reporting first quarter results with a mixed outlook. First quarter revenue and earnings beat analyst estimates. The company's outlook for adjusted gross margin in the second quarter, missing the street's estimates though. KeyBank says that miss is offsetting the street's view on earnings and revenue. With the analysts saying the outlook likely reflects a bottoming and recovery in automotive and industrials. Next up here, Wendy's, is getting an upgrade at JP Morgan to overweight from neutral. The firm says that the current share price provides a value-oriented opportunity because they see upside in the next couple of years. Analyst cite solid free cash flow, opportunity for international expansion, and de-risked near-term challenges. The price target, set to $15 a share, representing nearly 20% upside for the stock. And finally here, Reddit's getting an upgrade at Seaport Research to buy from neutral. The firm citing the company's strong first quarter. The analyst likes that Reddit is one of the biggest websites on the internet and sees user growth climbing. They also cite the potential for ad growth both in the US and abroad. The firm has $165 price target on the stock, representing a 45% upside. You can scan the QR code below to track the best and worst performing stocks of the session with Yahoo Finance's trending tickers page.
