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JPMorgan, Goldman weigh on Dow; McDonald's upgraded; Yahoo to spin-off Alibaba

Susannah Lee

Time for your daily dose of trending tickers, the stocks you're following based on your Yahoo Finance ticker searches.

Goldman Sachs & JPMorgan Chase

Financials led the blue chips lower. Both Goldman Sachs (GS) and JPMorgan Chase (JPM) moved off their earlier lows but were still the Dow's biggest laggards in the session. Goldman shares have fallen nearly 12% this year. Investors are keeping a close eye on banking stocks since the Fed's rate hike could be a big catalyst for the sector.

Yahoo

Yahoo (YHOO) moved higher in the session. The parent company of Yahoo Finance said it plans to charge ahead and spin off its stake in Alibaba (BABA). That's despite the IRS declining to rule that the move will be tax free. Yahoo expects to complete the $22 billion spin-off by the end of the year. The risky move could cost the company billions of dollars if the IRS challenges the move in a future audit.

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McDonald's

McDonald's (MCD) was the Dow Jones Industrial's best performer in early trading. The stock was upgraded at Credit Suisse to "outperform" from "neutral" with a price target set at $112 a share. That's an upside potential of more than 16% from the last closing price. The firm said comparable restaurant sales trends are starting to turn higher and expects the new CEO to continue improving the business.