Gap — The apparel company’s stock headed higher after positive early Black Friday results, leading a group of retailers that includes Best Buy and Target. The industry is also preparing for the Cyber Monday surge, as shoppers are expected to spend more than ever on the e-commerce discount day.
Meredith Corp. — The media group reached an agreement to acquire Time in an all-cash deal valued at $2.8 billion. The acquisition is a coup for Meredith, Reuters reported, as the company held unsuccessful talks to buy Time earlier this year, as well as in 2013.
Regeneron Pharmaceuticals — The biotechnology company suffered a setback when nevascumab, a drug under development, failed to improve vision in clinical trials when paired with the company’s flagship drug Eylea, STAT News reported.
Buffalo Wild Wings — The company’s stock was downgraded to neutral from buy by analysts at UBS. In a note, the analysts say the neutral rating reflects a more “balanced risk/reward” scenario as reports of potential bidders have recently surfaced. The analysts did, however, raise their price target on Buffalo Wild Wings shares to $148 a share from $140.
Western Digital — Western Digital shares were downgraded to equal weight from overweight by analysts at Morgan Stanley. The analysts cited Western Digital’s exposure to declining prices in NAND flash memory. “Given our view of the cycle, we cannot recommend the sector until the market recognizes mounting pressure on NAND prices and slowing logic chip growth momentum in the near term,” they said.
Square — Analysts at BTIG poured water over the recent rally of the mobile payment company’s stock, downgrading it to sell from neutral. In a note, they said the stock’s jump this month — which has been driven in part by excitement that the company is letting some users buy and sell bitcoin on its Cash app — is overdone.
Apple — UBS lowered its iPhone sales forecast, noting a survey it conducted showed “more muted” demand for the popular smartphone.