Microsoft Drops, Home Depot Falls, Honeywell Sinks on Ratings Downgrade
Description
On this episode of Stock Movers:
- Microsoft (MSFT) shares drop after Rothschild & Co Redburn's Alexander Haissl downgraded Microsoft Corp. and Amazon.com, Inc. to neutral from buy, citing the industry's "trust us" – Gen-AI is just like early cloud 1.0” narrative looks “increasingly misplaced,
- Home Depot (HD) shares fall after the company cut its full-year earnings guidance, warning that some unsteady consumers are hitting the pause button on big-ticket home purchases. The world’s largest home-improvement retailer said it expects adjusted earnings per share to decline 5% from a year ago, lower than its previous forecast.
- Honeywell (HON) shares sink after BofA Global Research cut the recommendation on the industrial giant to underperform from buy, becoming the lone sell-equivalent rating in Bloomberg data. BofA expects shares to lag as elements of its spinoff strategy disappoint investors and the company doesn’t deliver earnings growth next year.
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