Stocks trend lower this morning entering the first trading of September, a historically weak month for markets. Lowe's (LOW) stock received an upgrade to Outperform from Bernstein analysts. Oracle (ORCL) shares are rising after Barclays upgraded the stock on the software company's cloud outlook amid AI trends. Illumina (ILMN) names Former Agilent (A) Vice President Jacob Thaysen as its new CEO.
Yahoo Finance Live details several trending stocks after Tuesday's opening bell.
Video Transcript
BRAD SMITH: Stocks are lower to start off this holiday-abbreviated week. Investors could be in for a challenging few weeks ahead with September, historically, the weakest month for equities.
There's also plenty of data on the docket ahead for the Fed's September policy meeting.
JULIE HYMAN: And on an individual basis, watching shares of Lowe's this morning. Bernstein upgrading the home improvement chain to outperform from market perform. Analysts there Dean Rosenblum saying in a note, he now sees an influx of positive trends that could expand the company's margins in the next two years.
He added that Lowe's growth could outpace that of competitor Home Depot. And the shares not getting the benefit here this morning.
BRAD SMITH: Yeah. We're also watching Oracle after Barclays upgraded the stock from equal-weight to overweight and raised its price target to $150 citing the company's multi-year growth story. In a note, analysts saying that the giant's Cloud Infrastructure in this business partly fueled by emerging AI opportunities will be a key to the overall story.
JULIE HYMAN: And shares of Illumina are on the move as well. They are trading lower by about 4% after the company announced former Agilent Senior Vice President Jacob Thaysen will take the helm as its new CEO. That's effective September 25.
The move comes months after a bout of leadership turmoil. Previous CEO Francis deSouza stepping down in June, just weeks after activist investor Carl Icahn tried and failed to oust him from the top spot.
