Fed Rate Decision: Markets Price a Delay, Not an End, to Tightening
Markets shifted the main Federal Reserve hike bet to September on Wednesday. The Fed was still expected to hold rates at 3.50%-3.75%. Its statement is due at 2 p.m. EDT.
Sandisk Stock’s $3,100 Target Faces $6.2 Billion Delay
Sandisk shares sank 13% to about $1,669 on Monday afternoon. That was the move even after Evercore ISI’s Amit Daryanani doubled his price target to $3,100 from $1,400. Daryanani said investors were “underappreciating the durability” of Sandisk’s earnings and free cash flow, cash left after capital spending, in the next few years.
UnitedHealth stock falls despite new price targets as Wall Street eyes Jan. 27 earnings
UnitedHealth Group Incorporated shares fell more than 2% on Wednesday, tracking a broader retreat in managed-care insurers. The stock was down $8.53 at $340.44 in late morning trading, while Humana slid 1.4% and Cigna dropped 2.1%.
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