BofA analyst Lawson Winder upgraded S&P 500 component company Freeport-McMoRan (NYSE: FCX) to buy with an unchanged price target of $42 this morning.
Winder came away from a meeting with Freeport CEO Kathleen Quirk feeling increasingly confident that key risks to the stock are already priced in, and says there’s now less downside risk. In particular, the analyst says estimates to repair the company’s Grasberg mine look “conservative,” and the cost could be lower than projected.
Freeport stock is up 2.6% on the upgrade. The Voo however is now down 0.2%.
The Washington Post is reporting that the Trump Administration has struck a deal with Pfizer (NYSE: PFE), whereby the drugs giant will sell medicine through Medicaid at reduced prices. The President signed an executive order in May ordering the government to negotiate lower prices — or impose them.
Pfizer is a component of the S&P 500. Despite the likely hit to profits, its stock is up 2.3%.
Morgan Stanley analyst Eric Serotta upgraded energy drink-maker Celsius Holdings (Nasdaq: CELH) to overweight with a $70 price target.
“Brand Celsius has returned to growth following last year’s share slowdown, and we expect further improvement, with much easier comps from December through early June,” said the analyst. Furthermore, Alani sales, which account for 40% of Celsius’s total sales, “remain robust ahead of the December 1 transition to the Pepsi system, which should accelerate growth for the brand. We expect both brands to benefit from improved alignment with PEP.”
Half an hour into the day’s trading, Celsius stock is up more than 3%. The Voo is still down 0.1%.
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This article will be updated throughout the day, so check back often for more daily updates.
It’s Tuesday, September 30 — and the U.S. government is about to run out of money.
Unless Congress passes a new continuing resolution by the end of the day, the government will “shut down” at midnight, causing turmoil in the economy. Not the smallest threat, President Trump has threatened to fire a certain number of federal workers if a shutdown happened, adding to unemployment. Investors are holding their breath waiting to see what happens, and the Vanguard S&P 500 ETF (NYSEMKT: VOO) is retreating 0.1% premarket.
Adding to the uncertainty, CNBC reports this morning that if a shutdown does happen, the government will cease issuing certain data that investors depend upon to gauge the health of the economy, Friday’s scheduled payrolls report for September, for example. And of course, the absence of jobs reports will make it harder to calculate unemployment trends and, by extension, gauge the likelihood of a second Federal Reserve interest rates cut in October.
Long story short, the market hates uncertainty, and things could get a whole lot less certain really, really soon.
In earnings news, United Natural Foods (Nasdaq: UNFI) beat earnings by a nickel this morning, reporting a fiscal Q4 2025 loss of $0.11 per share where analysts were expecting a 16-cent loss. Revenue was also better than expected at $7.7 billion.
Rounding out the good news, United Natural Foods forecast fiscal 2026 earnings per share of $1.50-$2.30, versus the consensus of $1.46. Good earnings news plus good guidance has United Natural Foods stock trading up nearly 6% this morning.
Payroll processor Paychex (Nasdaq: PAYX | PAYX Price Prediction) also reported earnings this morning, beating by two cents with a $1.22 per share fiscal Q1 2026 profit. Revenue matched analyst forecasts at $1.54. Paychex forecast adjusted earnings growth between 9% and 11% this year, and investors seem disappointed with that number, though.
Paychex stock is down more than 5% premarket.
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Joel South covers large-cap stocks, dividend investing, and major market trends, with a focus on earnings analysis, valuation, and turning complex data into actionable insights for investors.
He brings more than 15 years of experience as an investor and financial journalist, including 12 years at The Motley Fool, where he served as an investment analyst, Bureau Chief, and later led the Fool.com investing news desk. He has also co-hosted an investing podcast and appeared across TV and radio discussing market trends.
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