QUICK MARKET SUMMARY: Energy, Industrials, Materials: 🔸 James Hardie ( $JHX.AX) to buy AZEK for $8.75B; AZEK shareholders get $56.88/share. 🔸 FedEx ( $FDX) upgraded to Buy at Jefferies; price target cut to $275. 🔸 Japan's steel output fell 8.5% YoY in Feb, lowest since July 2020. Financials: 🔸 Ally Financial ( $ALLY) on 90-day catalyst watch at Citigroup. 🔸 Bitcoin up 3% to ~$88K; crypto firms return to India. 🔸 Fifth Third ( $FITB) files mixed shelf offering. 🔸 IRS expects $500B revenue loss as taxpayers skip filings. Healthcare: 🔸 Bayer ( $BAYRY) ordered to pay $2.1B over Roundup cancer case; plans appeal. 🔸 TOMS Capital pushes for changes at Kenvue ( $KVUE). 🔸 23andMe ( $ME) files for Chapter 11; CEO Anne Wojcicki resigns. Tech, Media, Telecom: 🔸 Ant Group uses Chinese chips for AI training, cutting costs 20%. 🔸 Super Micro ( $SMCI) downgraded to Sell at Goldman; target cut to $32.

Wow $KVUE next week 22.5 Calls got there. 10X

#Downgrades - Sep 24, 2024 $BIDU: HSBC Downgrades to Hold from Buy - PT $100 $COST: Truist Securities Downgrades to Hold from Buy - PT $873 $CTLT: Baird Downgrades to Neutral from Outperform - PT $63.50 $CUBI: Wedbush Downgrades to Neutral from Outperform - PT $53 (from $79) $DOYU: HSBC Downgrades to Hold from Buy - PT $6.60 $DRS: BofA Securities Downgrades to Neutral from Buy - PT $30 (from $26) $EQR: BofA Securities Downgrades to Neutral from Buy - PT $82 (from $78) $ESS: BofA Securities Downgrades to Neutral from Buy - PT $321 (from $307) $FCNCA: Wedbush Downgrades to Neutral from Outperform - PT $2,150 (from $2,450) $FHN: Wedbush Downgrades to Neutral from Outperform - PT $17 (from $20) $INVH: BofA Securities Downgrades to Neutral from Buy - PT $37 (from $39) $KVUE: RBC Capital Downgrades to Sector Perform from Outperform - PT $24 $MCK: Baird Downgrades to Neutral from Outperform - PT $531 (from $603) $MNSO: Jefferies Downgrades to Hold from Buy - PT $14.91 $NTR: Wells Fargo Downgrades to Equal Weight from Overweight - PT $50 (from $62) $NSP: William Blair Downgrades to Market Perform from Outperform $PRGO: Jefferies Downgrades to Hold from Buy - PT $30 (from $50) $REGN: Leerink Partners Downgrades to Market Perform from Outperform - PT $1,077 (from $1,175) $SBUX: Jefferies Downgrades to Underperform from Hold - PT $76 (from $80) $TGI: BofA Securities Downgrades to Underperform from Buy - PT $12 (from $17) $XOM: Redburn-Atlantic Downgrades to Neutral from Buy - PT $120 (from $119)