Movers & Shakers: Zynga, Smucker slide, while CBS gains
NEW YORK (MarketWatch) — Here are stocks making notable moves in the market on Friday:
Apple Inc. AAPL, +0.22% saw its price target raised at a pair of research firms. UBS raised its price target for the tech giant to $ 150, while BMO Capital Markets raised its price target to $ 135.
ITT Corp. ITT, +4.63% reported better-than-expected quarterly profit, though the industrial-parts maker offered a warning about future sales.
CBS Corp. CBS, +3.76% late Thursday reported quarterly earnings that beat forecasts.
Zynga Inc. ZNGA, -18.15% fell as a number of Wall Street analysts lowered their price targets in the wake of the game developer’s disappointing results and outlook.
J.M. Smucker Co. SJM, -0.37% posted a quarterly profit that beat forecasts, but revenue missed expectations the maker of Pillsbury baked goods and Folgers-brand coffee offered weaker guidance for the year.
American Express Co. AXP, -2.12% saw its price target cut at several research firms, a day after the charge-card company announced that it was ending its partnership with Costco Wholesale Corp. COST, +0.16% :J.P. Morgan cut its price target for Amex to $ 85 from $ 90 at J.P. Morgan, Janney Capital dropped its target to $ 94 from $ 101 and Citigroup lowered its target to $ 92 from $ 98.
Calpine Corp. CPN, -1.31% posted a fourth-quarter profit of $ 210 million, bouncing back from a loss of $ 97 million last year. The power producer was aided by falling natural gas prices and the sale of a batch of its power plants.
Interpublic Group of Companies, Inc. IPG, +1.44% missed on fourth-quarter profit estimates but reported better-than-expected revenues. The company also boosted its dividend by 26% to 12 cents and announced a $ 300 million share repurchase plan.
Waste Management Inc. WM, -2.87% was downgraded to hold from buy at Stifel Nicolas, which also lowered its price target for the trash hauler to $ 53 from $ 57.
Gap Inc. GPS, -0.36% was downgraded at Credit Suisse to underperform from neutral and its price target was cut to $ 37 from $ 40.
American International Group Inc. AIG, -0.43% late Thursday posted fourth-quarter operating profit that missed Wall Street’s forecasts.
Kraft Foods Group Inc. KRFT, -4.08% late Thursday reported adjusted quarterly profit that missed expectations, and the food giant said several executives are leaving.
Tickers to Watch:
VF Corp. VFC, +2.66% posted adjusted quarterly earnings of 98 cents per share on revenue of $ 3.58 billion, while analysts polled by Thomson Reuters forecast earnings of 98 cents a share on revenue of $ 3.59 billion, according to a Dow Jones Newswires report.
Groupon Inc. GRPN, +1.74% late Thursday delivered quarterly profit that topped expectations, but the company issued a somewhat weak outlook.