Bad news for Apple, Tracon slides, Boeing completes test flights

Here are the companies Yahoo Finance is watching today.

A downgrade for Apple (AAPL). New Street research is now rating the stock a Sell, saying many investors are too optimistic about the pace of iPhone replacements. HSBC also downgraded the stock this week, urging investors to reduce their holdings.

There are a lot of eyes on Tracon Pharmaceuticals (TCON). The biotech company ended a late-stage trial of a cancer treatment, after the medication delivered disappointing results. The CEO says they will continue to work on other treatments and have enough cash to last into late 2020.

Boeing (BA) says it's now completed nearly a hundred test flights for a software fix on its 737 Max jets. The CEO, Dennis Muilenburg, also says it’s making progress with its plan to get the fix onto its grounded planes. However, it may be several more weeks before that plan is turned over to FAA officials. The FAA would have to sign off before any fix is rolled out.

J.Crew may be looking at an IPO for its Madewell brand of women's clothing. The retailer said it's hired legal and financial advisors to look into the public offering, which could come as early as the the second half of 2019. The clothing company said the move is meant, in party, to strengthen its balance sheet. Reuters says the company's debt exceeds $1.7 billion.