Live Updates
Updates appear automatically as they are published.
Kratos Flying Higher on Goldman Upgrade
A third company winning upgrades this morning is military drone manufacturer Kratos Defense & Security (Nasdaq: KTOS). “Kratos has strategically invested in areas of the defense supply chain that are critical to the future of warfare and are at a key inflection point. Funding is finally coming for drone programs, turbo jet and turbo fan engines are in high demand for UAS and missile systems, and both C5ISR and space are continuing to grow at a fast clip,” writes Goldman analyst Noah Poponak.
Goldman upgraded Kratos stock to buy with a $52 price target. The stock opened up 0.7%.
This article will be updated throughout the day, so check back often for more daily updates.
The Vanguard S&P 500 ETF (NYSEMKT: VOO) hit an all-time high of 566.95 Friday — a remarkable turnaround after tumbling 18% in April on President Trump’s announcement of global “reciprocal” tariffs. Investors are looking for the ETF to rack up even more gains today as the index it tracks keeps rising.
Trade deal hopes are key to the market’s rebound. A new trade deal with the United Kingdom goes into effect today, maintaining the new 10% base tariff on UK goods imported into the U.S., but lowering tariffs on certain products. Canada announced yesterday it will remove a digital services tax on U.S. tech giants, which could open the door to a broader agreement. And the White House says it’s busy working on trade deals with the European Union, Taiwan, Japan, India, and Canada.
Pre-market, the Voo is already up another 0.4% from Friday’s close.
Analyst Calls
Jefferies upgraded shares of S&P 500 component company Walt Disney (NYSE: DIS) to buy this morning with a $144 price target. The banker sees limited risk of a Parks slowdown this year, and more positive upside in the company’s Cruise business next year, as well as the chance for profit margin improvement.
Oracle (NYSE: ORCL) is a second S&P 500 component getting an upgrade. Investment bank Stifel upgrades to buy with a $250 price target, citing “the recent dramatic step-up in capex and … Cloud gains [that] coupled with a greater emphasis on physical infrastructure rather than people to generate new business, should enable revenue to grow meaningfully faster than opex in coming years.”
The post Stock Market Live June 30: Successful Trade Deals and Hopes for More Power S&P 500 (VOO) Higher appeared first on 24/7 Wall St..
Click this link for the original source of this article.
Author: Joel South
This content is courtesy of, and owned and copyrighted by, https://247wallst.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.
