Starboard Value, an activist hedge fund, has initiated new positions in two consumer stocks: Lamb Weston and Carmax, as revealed in a recent regulatory filing.
Shares of Ben & Jerry's parent company Magnum Ice Cream Company jumped as much as 18% after Reuters reported that Blackstone and CD & R are among firms in the early stages of exploring a bid for the company.
Evercore ISI has expressed a positive outlook on Apple Inc., maintaining an outperform rating and increasing its 12-month price target from $330 to $365, indicating a potential upside of 22% from the stock's recent closing price.
TD Cowen has upgraded Starbucks from hold to buy, raising its price target from $106 to $120, which suggests a potential upside of 13% based on the stock's closing price on Wednesday.
Kool-Aid is introducing a new line of electrolyte packets that do not contain artificial dyes, targeting consumers who seek affordable hydration options compared to brands like Gatorade and Liquid I.V.
The conflict in the Middle East has weighed heavily on the world's biggest luxury stocks, but Barclays sees a buying opportunity with the sector now offering the best value in a decade.
On Holding, the Swiss sneaker company, reported strong growth in its first quarter, surpassing Wall Street expectations for both earnings and revenue, despite a shortfall in direct-to-consumer sales.