More Desired Stocks: TrueCar, Inc. (NASDAQ:TRUE), AstraZeneca PLC (NYSE:AZN), ARM Holdings plc (NASDAQ:ARMH)

April 26, 2023 9:02 am21 commentsViews: 88

Goldman Sachs cut its rating on TrueCar, Inc. (NASDAQ:TRUE) to “neutral” from “buy” and removed the online car pricing service from its “Americas Buy List” on Friday. The analyst company lowered its price target on TrueCar stock to $8 from $17. Goldman Sachs also lowered its 2015 EARNINGS PER SHARE predicts to a loss of 10 cents per share from a profit of 10 cents a share. The analyst firm lowered its 2016 and 2017 EARNINGS PER SHARE anticipates for the firm to 10 cents and 36 cents a share from 44 cents and 92 cents a share, respectively. “With accorder lawsuits, questions about attribution, softening channels and little traction in new products, we believe there is further downside” for TrueCar, Sameet Sinha from B. Riley & Co. stated in a note after TrueCar’s warnings. The firm reiterated its sell rating on TrueCar and lowered its price target from $9.25 a share to $5.50. Analysts at J.P. Morgan on Friday downgraded TrueCar from overweight to neutral. On the other consideration, TrueCar, Inc. (NASDAQ:TRUE) begun last trade with a price of $6.89 and throughout the trading session climbed at $7.44. The day-trade ended with a loss of -35.67% to close at $6.87.

AstraZeneca PLC (NYSE:AZN) released that it has signed into a definitive contract with Genzyme to divest Caprelsa (vandetanib), a rare disease medicine. AstraZeneca said the transaction does not impact its financial guidance for 2015. Caprelsa was granted Orphan Drug Designation by the US FDA in 2005 and is currently available in 28 countries for the treatment of aggressive and symptomatic medullary thyroid carcinoma. Caprelsa is in Phase III development for differentiated thyroid carcinoma, with the study expected to finish in the second half of 2015. Genzyme will pay AstraZeneca up to $300 million, including an upfront payment of $165 million to acquire the global rights to sell and develop Caprelsa, and further development and sales milestone payments of up to $135 million. AstraZeneca PLC (NYSE:AZN) stock hit highest price at $66.63, beginning with a price of $66.28 to close at 65.76 by a loss of -1.19% with a day range of $65.63-$66.63. The total market capitalization remained 41.56 Billion, total volume of 1.97 Million shares held in the session was surprisingly higher than its average volume of 1376.25 shares.

Chipmaker ARM Holdings plc (NASDAQ:ARMH) reported that it has released a new university coalition partnership that allows industry partners to develop high quality teaching materials based on their own technologies for engineering students around the world. The hardware and software kits will be centered around ARM teaching materials and will offer the most up-to-date professional-standard platforms and tools. The program will launch through partnerships with leading Chinese technology companies Beijing Chukong Technology Co. Ltd, the company behind Cocos2d/Cocos3d, one of the top global games engines, and GigaDevice Semiconductor (Beijing) Inc. The new alliance model will also anticipate future industry trends as the creation of teaching materials becomes an on-going collaborative enterprise across the ARM ecosystem. Shares of ARM Holdings plc (NASDAQ:ARMH) opened at $47.16 with 468.09 million outstanding shares and hit to its highest price of $47.41 during the day and finally closed at $46.26 by scoring -2.82%. In the whole session, it traded on volume of 1.91 Million shares, which turned higher than its average volume.


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