00:03 Speaker A
Time to cover some of today’s trending tickers brought to you by CBO.
00:09 Speaker A
Gonna start here with Salesforce, shares falling after getting a downgrade from KeyBank to sector weight from overweight.
00:18 Speaker A
Analyst also removing its price target, citing weak customer feedback on sales Salesforce’s AI agent. The analyst also warning that the timing of the call could be at quote exactly the wrong time.
00:30 Speaker A
Currently more than 70% of analysts covering that stock, think it is a buy with an average price target of over 240, implying a nearly 50% jump from where it’s trading now.
00:40 Speaker A
Next up, Pepsi under pressure. It’s after reporting that US consumers pulling back on snacks and sodas as inflation continues to impact spending habits, even after the company cut prices by roughly 15% in February on Lays, Doritos, Cheetos and Tostitos.
00:57 Speaker A
A couple of bright spots for Pepsi in the quarter included its more health conscious products and zero sugar beverages.
1:02 Speaker A
And lastly AstraZeneca shares, they’re falling after a setback in a heart drug trial, dealt a rare blow to the pharma giant. The disappointing results raising concerns about the company’s drug pipeline and future growth expectations.
1:13 Speaker A
Decline coming as investors reassess the risks around clinical trial outcomes, even for large established biotech and pharmaceutical companies.