Here are the companies the Yahoo Finance team is watching for you today.
SmileDirectClub (SDC) is hoping to rebound from some major losses on its first day of trading. Its stock plummeted 28% yesterday. The Wall Street Journal reports that It was the worst stock market debut for any IPO valued at over $1 billion this year.
CloudFlare (NET) is set to start trading on the New York Stock Exchange today. The company that helps websites protect and distribute content has already raised $525 million after pricing its shares above an already elevated target. The San Francisco business sold 35 million shares at $15 each.
Goldman Sachs has drastically cut its outlook on Apple (AAPL), predicting a 26% downside to the stock. Goldman analyst Rod Hall says the tech giant's plan for free trials of Apple TV+ will hurt hardware profit margins. Goldman now has has the lowest 12 month price target for Apple at $165, down from $187.
On a call with analysts, Broadcom's (AVGO) Chief Executive Hock Tan said the company's semiconductors are currently sitting at the bottom of the cycle with no sign of a turnaround in the near future. Tan blamed tariffs and trade restrictions for Broadcom's slow growth, though the company maintained its revenue target of $22.5 billion for its fiscal year.
Facebook (FB) is customizing its platform. The social media giant said it will be widening its “Today In” aspect of the site to be specific to 6,000 cities across the country. It was previously available in only 400 cities. The service was launched in 2018 and gives users news from local organizations. Facebook said that 1.6 million people have turned on the feature so far.