Apple not joining rally; GE jumps on Trian's $2.5b stake; FireEye downgraded
Time for your daily dose of trending tickers, the stocks you're following based on your Yahoo Finance ticker searches.
Apple
Apple (AAPL) was one of the only blue chips not participating in the rally. Shares were in the red in early trading after Citi lowered its iPhone unit sales estimates. The firm now expects fourth quarter sales to be 1 million units less than the previous forecast, at 47 million iPhone units from a prior estimate of 48 million units. Investors expecting other sell-side analysts to follow this call in the coming weeks. Citi is keeping a 'buy' rating for the stock with a price target of $145 dollars a share.
FireEye
Another bearish call on Wall Street pushed FireEye (FEYE) to lose ground. The cyber security provider was downgraded at Piper Jaffray to a "neutral" rating from an "overweight." The price target was slashed to $37 dollars a share from $60. The firm thinks FireEye will continue to face increased competition.
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General Electric
Big move to the upside for General Electric (GE). GE led the Dow higher in the session on activist investor Nelson Peltz's hedge fund taking a $2.5 billion stake in the company. Trian wants GE to cut more costs and increase shareholder value by getting rid of more of its finance units. Trian thinks GE shares can go up to $45 by the end of 2017, that's nearly a 77% increase from the last closing price.