The market is making a run at all-time highs now that it has shaken off its post-Brexit dip. Last Friday, the S&P 500 finished with a 1.5% increase to 2,129.90, while the Dow Jones Industrial Average surged 1.4% to 18,146.74.
This week, overall futures show that the rally could continue, though Monday’s trading day won’t be exclusively full of winners. A mixed trio of potential for investors looking around on Monday includes Alcoa Inc (NYSE:AA), Amazon.com, Inc. (NASDAQ:AMZN) and Twitter Inc (NYSE:TWTR).
Here’s what’s happening with these companies:
Twitter Inc (TWTR)
The recent rally in TWTR shares looks like it will be blunted this morning amid a pair of downgrades on the stock.
Both Monness Crespi Hardt and SunTrust Robinson Humphrey knocked Twitter shares from buy ratings to neutral ratings, though both of them maintained their price targets.
Monness Crespi Hardt analyst James Cakmak wrote, “We believe, barring any changes, Twitter was, is, and will continue as a niche product in terms of engagement and content contribution.” Meanwhile, SunTrust Robinson Humphrey doesn’t see any of Twitter’s recent changes doing much to boost user growth and engagement.
TWTR shares, which enjoyed a 7% bump last week, are off about 2% in Monday’s premarket trading.
Alcoa Inc (AA)
AA shares are indicating a great deal of optimism heading into tonight’s second-quarter earnings report.
Perhaps that’s because there’s such a low bar to clear. Analysts see the company earning 10 cents per share, down from 19 cents in the year-ago period, on revenues expected to decline 12% to $5.2 billion.
Of course, investors will be looking for more than just numbers — they’ll be looking for any indications of a rebound in aluminum, as well as details pertaining the company’s upcoming split into a pair of publicly traded companies.
Near the end of June, Alcoa filed with the SEC, detailing a split that would see its aluminum and bauxite mining operations, among others, rolled into a company called Alcoa Corporation, with “value-added businesses,” as well as manufacturing and engineering services, rolled into a second company named Arconic.
AA stock improved 6% over the past three trading days and is up another 1% in Monday’s premarket action.
Amazon.com, Inc. (AMZN)
Amazon Prime Day — which could be a strong driver for AMZN stock — is only a day away.
For subscribers of the company’s Prime service, the e-commerce retailer is offering a 24-hour sale that includes sales on all kinds of products. Amazon’s Prime Day sale will take place on Tuesday, July 12, and new offers will be rolled out as often as every five minutes throughout the day.
Customers ordered 34.4 million items during last year’s sale, surpassing Black Friday numbers for the company. Meanwhile, several analysts are getting bullish on Prime Day’s prospects, and AMZN stock even got a price target update from SunTrust in anticipation.
AMZN is up about 1% in Monday’s premarket trade.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
