WPP (NYSE:WPP) Stock, Quote.Headers.trade-ideas

Headquartered in the United Kingdom, WPP is the world's largest ad holding company based on annual revenue. Its services, which include traditional and digital advertising, public relations, and consulting, are provided worldwide, with over 70% of its revenue coming from more developed regions such as North America, the UK, and Western Europe.

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According to Fitch analysts, uncertainty surrounding disposable income prospects along with shrinking household wealth has led to Chinese consumers prioritizing &#34;value-for-money&#34; products over non-essential expenditures.

China&#39;s Low Consumer Confidence Creates Panic Among Global Giants: &#39;We Don&#39;t Know How Long It Will Take...&#39;

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Earlier this month, a Ferrari NV (NYSE
) executive received suspicious WhatsApp messages from a deepfake impersonating CEO Benedetto Vigna. The scam, aimed at discussing a confidential acquisition, was identified due to mechanical intonations and a different phone number.

Ferrari Executive Targeted By Deepfake Scam: Report

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International Business Machines Corporation (NYSE: IBM) recently collaborated with WPP Plc (NYSE: WPP) to introduce a new business-to-business (B2B) solution within the marketing industry.

IBM Collaborates With WPP to Revolutionize B2B Marketing

WPP PLC

<a href="https://www.adweek.com/agencies/amazon-media-account-omg-wpp/" title="https://www.adweek.com/agencies/amazon-media-account-omg-wpp/">https://www.adweek.com/agencies/amazon-media-account-omg-wpp/</a>

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'Amazon's Multi-Billion Dollar Media Account Goes to OMG and WPP' - AdWeek

Several multinational corporations, including Volkswagen AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>), Mercedes-Benz and L&#8217;Oréal, are voicing concerns over a drop in demand in China, due to a slowing economy and growing domestic competition.
What Happened: Reduced demand in China has been a recurring theme in half-year earnings across the global consumer goods sector. L'Oréal predicted a 2-3% fall in sales growth in China in the first half of the year, while Volkswagen-owned Porsche reported a one-third decrease in Chinese sales in the six months to June, compared to the previous year, Financial Times <a href="https://www.ft.com/content/8e2f415b-46bb-473f-9c26-474322e372f2">reported</a> on Monday.
&#8220;The only part of the world where consumer confidence remains very low is China,&#8221; said L'Oréal CEO Nicolas Hieronimus.
China&#8217;s heavily indebted real estate industry has been slowing down since late 2021, leading to a rapid drop in house prices and a subsequent decrease in consumer confidence and demand for consumer goods. 
See Also: <a href="https://www.benzinga.com/markets/asia/24/08/40287920/yum-china-serves-up-profit-margin-growth-despite-challenging-consumer-landscape?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Yum China Serves Up Profit, Margin Growth Despite Challenging Consumer Landscape</a>
Despite the challenges, some companies remain optimistic about the Chinese market. Yum China (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>), the operator of Pizza Hut and KFC in China, reported better-than-expected first-half results, with net income rising 8% to $212 million.
According to Fitch analysts, uncertainty surrounding disposable income prospects along with shrinking household wealth has led to Chinese consumers prioritizing &#8220;value-for-money&#8221; products over non-essential expenditures.
"We don't know how long it will take [or] what it will take for China's consumers to regain that confidence,&#8221; Mercedes-Benz CEO Ola Källenius said.
Why It Matters: The concerns raised by these global giants echo the sentiments of renowned economist Paul Krugman, who earlier this year expressed concerns about <a href="https://www.benzinga.com/news/24/06/39133647/paul-krugman-slams-beijings-economic-model-world-will-not-accept-everything-china-wants-to-export">China's economic approach</a>, stating that the country's leaders are "bizarrely unwilling" to shift focus from production to consumer demand.
Furthermore, Chinese tech giants like Alibaba Group Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), Tencent Holdings Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>), and JD.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) are expected to shed light on China's economic and consumer sentiment as <a href="https://www.benzinga.com/news/24/08/40285028/alibaba-leads-chinese-tech-giants-in-boosting-shareholder-returns-but-economic-challenges-loom-repor">they report earnings</a> amid this challenging landscape. While these companies remain focused on enhancing shareholder returns, the overall economic challenges loom large.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/08/40287556/general-motors-remains-committed-to-china-despite-losses-restructuring-needs-cfo-highlights-cash?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">General Motors Remains Committed To China Despite Losses, Restructuring Needs: CFO Highlights Cash Stability Goals</a></li>
</ul>
Photo via Shutterstock.
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

China's Low Consumer Confidence Creates Panic Among Global Giants: 'We Don't Know How Long It Will Take...'

He will join the Board on 16 September 2024 and will succeed Roberto Quarta as Non-Executive Chair of WPP from 1 January 2025.

Management

WPP Appoints Philip Jansen To Its Board As Non-Executive Director And Chair-Designate

In a striking incident earlier this month, an executive at Ferrari NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>) found himself receiving unusual messages that appeared to be from the company's CEO, Benedetto Vigna.
The messages, arriving through WhatsApp, which is owned by Meta Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), suggested a major acquisition was in the works and required the executive's assistance.
The messages purportedly from Vigna had a different phone number and profile picture than usual. Despite the convincing image of the bespectacled CEO in front of Ferrari's prancing-horse logo, the executive grew suspicious.
One message urged, "Be ready to sign the Non-Disclosure Agreement our lawyer is set to send you asap," and mentioned that "Italy's market regulator and Milan stock-exchange have been already informed. Stay ready and please utmost discretion," reported Bloomberg.
This was a sophisticated attempt to use deepfake technology to infiltrate Ferrari.
The executive realized something was amiss when he noticed subtle mechanical intonations in the voice and a different phone number.
Suspicions were confirmed when the imposter could not answer a verification question about a book recently recommended by Vigna, leading to the abrupt end of the call.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39395622/ferraris-first-electric-car-to-cost-over-500-000-higher-than-tesla-roadster-porsche-taycan-report" rel="noreferrer noopener">Ferrari's First Electric Car To Cost Over $500,000, Higher Than Tesla Roadster, Porsche Taycan: Report</a>
This incident is part of a growing trend where deepfake scams target high-profile executives. Similar tactics were used against WPP PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WPP#NYSE">WPP</a>) CEO Mark Read in May, though that attempt also failed, according to Bloomberg.
"This year we're seeing an increase in criminals attempting to voice clone using AI," said Rachel Tobac, CEO of cybersecurity training company SocialProof Security.
While deepfake technology has not yet caused widespread deception, significant losses have occurred. A multinational company in Hong Kong was scammed out of HK$200 million ($26 million) earlier this year through deepfake technology.
CyberArk Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), an information security company, is already training its executives to identify such scams.
"It's just a matter of time before these AI-based deepfake tools become incredibly accurate," warned Stefano Zanero, a cybersecurity professor at Italy's Politecnico di Milano.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: B_A from Pixabay

<a href="https://www.ft.com/content/2c3c6055-f898-4593-b6c6-80174f7876b5">https://www.ft.com/content/2c3c6055-f898-4593-b6c6-80174f7876b5</a>
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'KKR Makes Bid To Take Control Of FGS Global From WPP' - Financial Times

International Business Machines Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ibm#NYSE">IBM</a>) recently collaborated with WPP Plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wpp#NYSE">WPP</a>) to introduce a new business-to-business (B2B) solution within the marketing industry. The collaboration aims to enhance productivity and help clients unlock their business value by better understanding the various buying decisions. 
Leveraging IBM&#39;s cutting-edge AI technologies, including Watsonx, and the newly-launched WPP Open for B2B platform, WPP aims to expedite digital transformation for business enterprises globally. 
This new platform is designed to meet enterprise-scale requirements, offering strong security, governance and seamless integration with clients&#39; current systems. It can empower marketers to effectively address B2B marketing challenges. The new platform effectively identifies crucial purchasing decisions of multiple stakeholders in diverse buying groups who collectively can influence the market both internally and externally within organizations. 
Moreover, by harnessing advanced data analytics and machine learning capabilities, this WPP AI model can fetch data from the client and third parties through IBM Watsonx to optimize engagement for buying groups. This can provide B2B marketers with guidance on channel selection and content to ensure that buying groups receive a unified, consistent and pertinent message. 
Additionally, it also enables them to monitor the effectiveness of marketing activities within buying groups and make real-time adjustments to messaging or influencer targeting as needed. 
WPP and IBM will also collaborate with LinkedIn to help clients deliver more effective advertising campaigns. This collaboration is likely to improve the profitability of IBM and strengthen its leadership in delivering innovative solutions across the hybrid cloud, AI, and consulting services. 
Shares of IBM have gained 27.6% over the past year compared with the industry&#39;s growth of 21.4%
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/56/69217.jpg?v=789080147" /> 
Image Source: Zacks Investment Research
<h3>Zacks Rank and Key Picks</h3>
IBM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the industry have been discussed below. 
Arista Networks, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/anet#NYSE">ANET</a>), sporting a Zacks Rank of 1 (Strong Buy) at present, supplies products to a prestigious set of customers, including Fortune 500 global companies in markets such as cloud titans, enterprises, financials and specialty cloud service providers.
Arista delivered a trailing four-quarter average earnings surprise of 15.39%. It has a long-term growth expectation of 15.68%. 
Motorola Solutions Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/msi#NYSE">MSI</a>) provides services and solutions to government segments and public safety programs, along with large enterprises and wireless infrastructure services. Currently, Motorola holds a Zacks Rank #2 (Buy). 
It delivered a trailing four-quarter average earnings surprise of 7.54% and has a long-term growth expectation of 9.47%. In the last reported quarter, Motorola delivered an earnings surprise of 11.51%.
<a href="https://www.zacks.com/stock/news/2291033/ibm-collaborates-with-wpp-to-revolutionize-b2b-marketing?cid=CS-BENZ-FT-analyst_blog|company_news_tech_sector-2291033">To read this article on Zacks.com click here.</a>

KERV And CMI Media Group Announce Video Attention Partnership; Pharmaceutical Clients To Access KERV's AI-Powered Video Analysis And Advertising Technology

The company is simultaneously working with Georgia Power, piloting a similar program for a limited number of EV owners in Georgia. 
&nbsp;

WPP Reports Q1 Revenue Of £3.4B, Down 1.4% YoY And Up 2.1% Like-For-Like, Revenue Less Pass-through Costs Were £2.7B, Down 5.0% YoY And Down 1.6% Like-For-Like

WIIM

WPP shares are trading lower. The company reported preliminary FY23 results.

WPP Reported Prelim FY23 Revenue of £14.85B, up by 2.9% YoY, EPS of 93.8p

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Earnings Scheduled For February 22, 2024

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Shares of several companies in the broader communication, media and entertainment sector are trading lower after January CPI data showed a greater-than-expected rise in inflation, which increased uncertainty surrounding future rate cuts.

WPP Plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wpp#NYSE">WPP</a>) shares are&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/23/10/35433331/british-communication-advertising-company-wpp-cuts-fy23-outlook-again-on-cautious-spending-trends" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">trading higher on Wednesday.</a>
The company is reportedly exploring possibilities to divest its 40% interest in the market research firm Kantar.
The British owner of advertising agencies aims to generate cash and tackle its declining stock value, Bloomberg&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2024-01-10/wpp-is-said-to-weigh-options-for-its-40-stake-in-bain-s-kantar?sref=TBDibEcD" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reported</a>, citing people familiar with the matter.
The London-based company is collaborating with an adviser to examine various options, including the complete sale of its remaining stake in Kantar, the report read.&nbsp;
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29608124/british-advertising-giant-wpp-reveals-cfo-transition" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">British Advertising Giant WPP Reveals CFO Transition</a>
This stake was retained after the 2019 transaction where 60% of Kantar was sold to the buyout firm Bain Capital, it added.
A potential deal could assign an equity value ranging from approximately $3 billion to $4 billion to Kantar, the report added. Kantar is carrying around $4 billion in debt.
In a separate development, Bain is reportedly preparing to initiate the sale of Kantar Media, a subsidiary of Kantar responsible for managing the television audience measurement system BARB. This particular unit could fetch a valuation of approximately &pound;1 billion in a sale, Bloomberg reported.
Discussions regarding WPP&#39;s potential divestiture of its stake in Kantar are currently in preliminary phases, with no definitive conclusions reached yet.&nbsp;
WPP might choose to maintain its ownership in the business if it fails to identify suitable alternatives for the stake, Bloomberg added.
Read Next:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/24/01/36577330/why-palantir-technologies-shares-are-rising-today" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Why Palantir Technologies Shares Are Rising Today</a>
Price Action:&nbsp;WPP shares are trading higher by 1.17% to $48.39 on the last check Wednesday.&nbsp;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Why British Advertising Giant WPP Shares Are Rising Today

WPP PLC&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wpp#NYSE">WPP</a>) disclosed a Q3 trading&nbsp;<a class="editor-rtfLink" href="https://otp.tools.investis.com/clients/uk/wpp_group_plc/rns/regulatory-story.aspx?cid=1299&amp;newsid=1728217" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">update</a>, with a revenue decline of 1.8% Y/Y on a reported basis and an increase of 2.3% on a like-for-like (LFL) basis.&nbsp;
The company&#39;s performance in Q3 continued to be impacted by the cautious spending trends seen in Q2, mainly across technology clients.&nbsp;
Revenue less pass-through costs was down 0.6% Y/Y LFL due to declines in North America (continued weakness from technology clients) and China.
GroupM rose +1.6% Y/Y in Q3 with low-single-digit growth in the U.S. and U.K.
The company won net new business worth $1.4 billion in Q3.
The company&nbsp;launched VML and further integrated GroupM with common products and a single technology platform in Q3.&nbsp;
Both moves are expected to drive revenues and deliver net annualized cost savings of at least &pound;100 million in FY25 with a part-year benefit in FY24.
FY23 Outlook: WPP lowered the outlook for LFL revenue less pass-through costs growth to 0.5%-1.0% (from 1.5%-3.0% earlier) and now expects headline operating margin (excluding FX impact) of 14.8-15.0%&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/calendars/guidance" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">(vs. around 15.0% prior)</a>.
The company plans to provide an update on its strategic roadmap over the next three to five years on Capital Markets Day in January 2024.
Price Action: WPP shares are trading lower by 1.47% at $40.97 premarket on the last check Thursday.

Mid Cap

Guidance

British Communication & Advertising Company WPP Cuts FY23 Outlook Again On Cautious Spending Trends

WPP Lowered FY23 LFL Revenue Less Pass-Through Costs Growth Outlook To 0.5%-1.0% (From 1.5%-3.0% Prior); Expects Headline Operating Margin (Ex-FX) Of 14.8%-15.0% Vs. Around 15.0% Earlier

&nbsp;Q3 LFL revenue less pass-through costs -0.6% with growth in UK, Western Continental Europe and Rest of World, offset by declines in North America, with continued weakness from technology clients and in China

WPP Q3 Trading Update: Revenue Down 1.8%, Up 2.3% On Like-For-Like (LFL) Basis;  LFL Revenue Less Pass-Through Costs Fell 0.6%

<a href="https://www.ft.com/content/271c202c-3679-4e4c-8f7f-9b1372cf0c0c" title="https://www.ft.com/content/271c202c-3679-4e4c-8f7f-9b1372cf0c0c">https://www.ft.com/content/271c202c-3679-4e4c-8f7f-9b1372cf0c0c</a>

Legal

'Executive at WPP-owned agency detained in Shanghai police raid' -FT Report, Citing People Briefed On The Matter

<a href="https://asia.nikkei.com/Business/Media-Entertainment/Ad-giant-WPP-to-expand-Japan-staff-40-into-brand-strategy-hub" title="https://asia.nikkei.com/Business/Media-Entertainment/Ad-giant-WPP-to-expand-Japan-staff-40-into-brand-strategy-hub">https://asia.nikkei.com/Business/Media-Entertainment/Ad-giant-WPP-to-expand-Japan-staff-40-into-brand-strategy-hub</a>

'Ad Giant WPP To Expand Japan Staff 40% Into Brand Strategy Hub' - Nikkei

<h3>Upgrades</h3>
For Regency Centers Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Argus Research upgraded the previous rating of Hold to Buy. In the second quarter, Regency Centers showed an EPS of $1.03, compared to $1.00 from the year-ago quarter. The current stock performance of Regency Centers shows a 52-week-high of $68.56 and a 52-week-low of $52.00. Moreover, at the end of the last trading period, the closing price was at $62.38. 
DA Davidson upgraded the previous rating for Pinterest Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) from Neutral to Buy. In the second quarter, Pinterest showed an EPS of $0.21, compared to $0.11 from the year-ago quarter. At the moment, the stock has a 52-week-high of $30.86 and a 52-week-low of $20.60. Pinterest closed at $26.21 at the end of the last trading period. 
TD Cowen upgraded the previous rating for Louisiana-Pacific Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPX#NYSE">LPX</a>) from Hold to Buy. Louisiana-Pacific earned $0.55 in the second quarter, compared to $4.57 in the year-ago quarter. The stock has a 52-week-high of $79.56 and a 52-week-low of $48.20. At the end of the last trading period, Louisiana-Pacific closed at $57.87. 
According to Citigroup, the prior rating for Pinterest Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) was changed from Neutral to Buy. In the second quarter, Pinterest showed an EPS of $0.21, compared to $0.11 from the year-ago quarter. At the moment, the stock has a 52-week-high of $30.86 and a 52-week-low of $20.60. Pinterest closed at $26.21 at the end of the last trading period. 
For Wingstop Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>), Wedbush upgraded the previous rating of Neutral to Outperform. Wingstop earned $0.57 in the second quarter, compared to $0.45 in the year-ago quarter. At the moment, the stock has a 52-week-high of $223.77 and a 52-week-low of $113.20. Wingstop closed at $173.74 at the end of the last trading period. 
Exane BNP Paribas upgraded the previous rating for Western Digital Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) from Neutral to Outperform. Western Digital earned $1.98 in the fourth quarter, compared to $1.78 in the year-ago quarter. The current stock performance of Western Digital shows a 52-week-high of $46.33 and a 52-week-low of $29.74. Moreover, at the end of the last trading period, the closing price was at $43.92. 
According to BMO Capital, the prior rating for Goosehead Insurance Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSHD#NASDAQ">GSHD</a>) was changed from Market Perform to Outperform. For the second quarter, Goosehead Insurance had an EPS of $0.41, compared to year-ago quarter EPS of $0.16. The stock has a 52-week-high of $76.36 and a 52-week-low of $29.31. At the end of the last trading period, Goosehead Insurance closed at $74.68. 
For Kimco Realty Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Wells Fargo upgraded the previous rating of Underweight to Equal-Weight. In the second quarter, Kimco Realty showed an EPS of $0.39, compared to $0.40 from the year-ago quarter. At the moment, the stock has a 52-week-high of $23.27 and a 52-week-low of $17.34. Kimco Realty closed at $18.49 at the end of the last trading period. 
According to Wells Fargo, the prior rating for SITE Centers Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SITC#NYSE">SITC</a>) was changed from Equal-Weight to Overweight. In the second quarter, SITE Centers showed an EPS of $0.29, compared to $0.31 from the year-ago quarter. The current stock performance of SITE Centers shows a 52-week-high of $14.62 and a 52-week-low of $10.43. Moreover, at the end of the last trading period, the closing price was at $13.35. 
According to BMO Capital, the prior rating for Hudson Pacific Properties Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPP#NYSE">HPP</a>) was changed from Market Perform to Outperform. For the second quarter, Hudson Pacific Properties had an EPS of $0.24, compared to year-ago quarter EPS of $0.51. The current stock performance of Hudson Pacific Properties shows a 52-week-high of $12.74 and a 52-week-low of $4.04. Moreover, at the end of the last trading period, the closing price was at $6.74. 
According to Jefferies, the prior rating for Sabra Health Care REIT Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBRA#NASDAQ">SBRA</a>) was changed from Hold to Buy. Sabra Health Care REIT earned $0.33 in the second quarter, compared to $0.39 in the year-ago quarter. At the moment, the stock has a 52-week-high of $14.31 and a 52-week-low of $10.08. Sabra Health Care REIT closed at $13.36 at the end of the last trading period. 
For Bausch Health Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>), Jefferies upgraded the previous rating of Hold to Buy. For the second quarter, Bausch Health Companies had an EPS of $0.81, compared to year-ago quarter EPS of $0.55. At the moment, the stock has a 52-week-high of $10.23 and a 52-week-low of $5.57. Bausch Health Companies closed at $7.72 at the end of the last trading period. 
For Cia Energetica DE Minas Gerais - Cemig (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIG#NYSE">CIG</a>), B of A Securities upgraded the previous rating of Neutral to Buy. The current stock performance of Cia Energetica DE Minas shows a 52-week-high of $2.70 and a 52-week-low of $1.82. Moreover, at the end of the last trading period, the closing price was at $2.62. 
Goldman Sachs upgraded the previous rating for Azul SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZUL#NYSE">AZUL</a>) from Neutral to Buy. For the second quarter, Azul had an EPS of $0.81, compared to year-ago quarter EPS of $0.94. The stock has a 52-week-high of $13.87 and a 52-week-low of $3.82. At the end of the last trading period, Azul closed at $8.27. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings upgrades.</a>
<h3>Downgrades</h3>
According to Raymond James, the prior rating for Ventas Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTR#NYSE">VTR</a>) was changed from Strong Buy to Outperform. Ventas earned $0.75 in the second quarter, compared to $0.72 in the year-ago quarter. The stock has a 52-week-high of $53.15 and a 52-week-low of $35.34. At the end of the last trading period, Ventas closed at $43.45. 
For Skyworks Solutions Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Exane BNP Paribas downgraded the previous rating of Outperform to Neutral. In the third quarter, Skyworks Solutions showed an EPS of $1.73, compared to $2.44 from the year-ago quarter. The current stock performance of Skyworks Solutions shows a 52-week-high of $123.69 and a 52-week-low of $76.17. Moreover, at the end of the last trading period, the closing price was at $97.82. 
For ARS Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPRY#NASDAQ">SPRY</a>), William Blair downgraded the previous rating of Outperform to Market Perform. In the second quarter, ARS Pharmaceuticals showed an EPS of $0.18, compared to $0.21 from the year-ago quarter. At the moment, the stock has a 52-week-high of $9.65 and a 52-week-low of $3.99. ARS Pharmaceuticals closed at $6.61 at the end of the last trading period. 
Wells Fargo downgraded the previous rating for Phillips Edison &amp; Co Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PECO#NASDAQ">PECO</a>) from Equal-Weight to Underweight. In the second quarter, Phillips Edison showed an EPS of $0.12, compared to $0.12 from the year-ago quarter. The stock has a 52-week-high of $36.46 and a 52-week-low of $27.08. At the end of the last trading period, Phillips Edison closed at $34.78. 
Wells Fargo downgraded the previous rating for Retail Opportunity Investments Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ">ROIC</a>) from Overweight to Equal-Weight. For the second quarter, Retail Opportunity had an EPS of $0.27, compared to year-ago quarter EPS of $0.28. The stock has a 52-week-high of $16.37 and a 52-week-low of $11.97. At the end of the last trading period, Retail Opportunity closed at $13.58. 
According to JP Morgan, the prior rating for Dollar General Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) was changed from Neutral to Underweight. For the second quarter, Dollar Gen had an EPS of $2.13, compared to year-ago quarter EPS of $2.98. The stock has a 52-week-high of $261.57 and a 52-week-low of $112.16. At the end of the last trading period, Dollar Gen closed at $115.10. 
According to Morgan Stanley, the prior rating for Ncino Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNO#NASDAQ">NCNO</a>) was changed from Equal-Weight to Underweight. In the second quarter, Ncino showed an EPS of $0.09, compared to $0.04 from the year-ago quarter. At the moment, the stock has a 52-week-high of $37.22 and a 52-week-low of $19.58. Ncino closed at $33.09 at the end of the last trading period. 
According to Morgan Stanley, the prior rating for Zebra Technologies Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZBRA#NASDAQ">ZBRA</a>) was changed from Equal-Weight to Underweight. In the second quarter, Zebra Technologies showed an EPS of $3.29, compared to $4.61 from the year-ago quarter. The stock has a 52-week-high of $351.74 and a 52-week-low of $225.14. At the end of the last trading period, Zebra Technologies closed at $252.17. 
Oppenheimer downgraded the previous rating for Chewy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) from Outperform to Perform. For the second quarter, Chewy had an EPS of $0.15, compared to year-ago quarter EPS of $0.05. The stock has a 52-week-high of $52.88 and a 52-week-low of $18.90. At the end of the last trading period, Chewy closed at $19.45. 
Exane BNP Paribas downgraded the previous rating for WPP PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WPP#NYSE">WPP</a>) from Outperform to Neutral. NoneThe current stock performance of WPP shows a 52-week-high of $64.07 and a 52-week-low of $39.69. Moreover, at the end of the last trading period, the closing price was at $47.15. 
B of A Securities downgraded the previous rating for PT Telkom Indonesia (Persero) Tbk (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TLK#NYSE">TLK</a>) from Buy to Neutral. For the first quarter, Telkom Indonesia had an EPS of $0.43, compared to year-ago quarter EPS of $0.43. The stock has a 52-week-high of $29.82 and a 52-week-low of $23.03. At the end of the last trading period, Telkom Indonesia closed at $24.18. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings downgrades.</a>
<h3>Initiations</h3>
With an Outperform rating, Oppenheimer initiated coverage on Air Transport Services Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATSG#NASDAQ">ATSG</a>). The price target seems to have been set at $27.00 for Air Transport Services Gr. In the second quarter, Air Transport Services Gr showed an EPS of $0.57, compared to $0.59 from the year-ago quarter. At the moment, the stock has a 52-week-high of $29.54 and a 52-week-low of $14.39. Air Transport Services Gr closed at $20.96 at the end of the last trading period. 
Hovde Group initiated coverage on Brookline Bancorp Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRKL#NASDAQ">BRKL</a>) with an Outperform rating. The price target for Brookline Bancorp is set to $10.75. In the second quarter, Brookline Bancorp showed an EPS of $0.26, compared to $0.33 from the year-ago quarter. The stock has a 52-week-high of $15.50 and a 52-week-low of $7.00. At the end of the last trading period, Brookline Bancorp closed at $8.93. 
RBC Capital initiated coverage on International Business Machines Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) with an Outperform rating. The price target for IBM is set to $188.00. For the second quarter, IBM had an EPS of $2.18, compared to year-ago quarter EPS of $2.31. The current stock performance of IBM shows a 52-week-high of $153.18 and a 52-week-low of $115.57. Moreover, at the end of the last trading period, the closing price was at $146.52. 
Needham initiated coverage on Lululemon Athletica Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) with a Buy rating. The price target for Lululemon Athletica is set to $470.00. In the second quarter, Lululemon Athletica showed an EPS of $2.68, compared to $2.20 from the year-ago quarter. The stock has a 52-week-high of $406.94 and a 52-week-low of $277.61. At the end of the last trading period, Lululemon Athletica closed at $384.45. 
With a Buy rating, Needham initiated coverage on On Holding AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>). The price target seems to have been set at $40.00 for On Holding. In the second quarter, On Holding showed an EPS of $0.04, compared to $0.15 from the year-ago quarter. The current stock performance of On Holding shows a 52-week-high of $37.08 and a 52-week-low of $15.44. Moreover, at the end of the last trading period, the closing price was at $29.86. 
With a Buy rating, Jefferies initiated coverage on CareTrust REIT Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTRE#NYSE">CTRE</a>). The price target seems to have been set at $23.00 for CareTrust REIT. In the second quarter, CareTrust REIT showed an EPS of $0.35, compared to $0.37 from the year-ago quarter. The current stock performance of CareTrust REIT shows a 52-week-high of $21.37 and a 52-week-low of $16.22. Moreover, at the end of the last trading period, the closing price was at $20.02. 
With a Hold rating, Jefferies initiated coverage on National Health Investors Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NHI#NYSE">NHI</a>). The price target seems to have been set at $52.00 for National Health Investors. For the second quarter, National Health Investors had an EPS of $1.06, compared to year-ago quarter EPS of $1.26. The stock has a 52-week-high of $63.59 and a 52-week-low of $47.54. At the end of the last trading period, National Health Investors closed at $50.58. 
Roth MKM initiated coverage on Reviva Pharmaceuticals Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVPH#NASDAQ">RVPH</a>) with a Buy rating. The price target for Reviva Pharmaceuticals is set to $12.00. In the second quarter, Reviva Pharmaceuticals showed an EPS of $0.55, compared to $0.29 from the year-ago quarter. The stock has a 52-week-high of $9.25 and a 52-week-low of $1.56. At the end of the last trading period, Reviva Pharmaceuticals closed at $5.23. 
With a Hold rating, Jefferies initiated coverage on LTC Properties Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTC#NYSE">LTC</a>). The price target seems to have been set at $29.00 for LTC Properties. LTC Properties earned $0.66 in the second quarter, compared to $0.64 in the year-ago quarter. At the moment, the stock has a 52-week-high of $42.17 and a 52-week-low of $30.87. LTC Properties closed at $31.88 at the end of the last trading period. 
With a Buy rating, Rosenblatt initiated coverage on Sonos Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONO#NASDAQ">SONO</a>). The price target seems to have been set at $20.00 for Sonos. In the third quarter, Sonos showed an EPS of $0.16, compared to $0.19 from the year-ago quarter. The current stock performance of Sonos shows a 52-week-high of $21.98 and a 52-week-low of $12.78. Moreover, at the end of the last trading period, the closing price was at $12.95. 
With a Market Outperform rating, JMP Securities initiated coverage on Mirum Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIRM#NASDAQ">MIRM</a>). The price target seems to have been set at $70.00 for Mirum Pharmaceuticals. Mirum Pharmaceuticals earned $1.94 in the second quarter, compared to $0.84 in the year-ago quarter. At the moment, the stock has a 52-week-high of $33.39 and a 52-week-low of $17.33. Mirum Pharmaceuticals closed at $31.00 at the end of the last trading period. 
With an Overweight rating, JP Morgan initiated coverage on First Citizens BancShares Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>). The price target seems to have been set at $1850.00 for First Citizens BancShares. For the second quarter, First Citizens BancShares had an EPS of $52.60, compared to year-ago quarter EPS of $16.86. The stock has a 52-week-high of $1512.07 and a 52-week-low of $505.84. At the end of the last trading period, First Citizens BancShares closed at $1352.88. 
For Maplebear Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>), Needham initiated coverage, by setting the current rating at Hold. Maplebear earned $0.21 in the third quarter, compared to $0.15 in the year-ago quarter. The stock has a 52-week-high of $42.95 and a 52-week-low of $33.67. At the end of the last trading period, Maplebear closed at $33.70. 
With a Buy rating, DA Davidson initiated coverage on Build-A-Bear Workshop Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBW#NYSE">BBW</a>). The price target seems to have been set at $42.00 for Build-A-Bear Workshop. For the second quarter, Build-A-Bear Workshop had an EPS of $0.57, compared to year-ago quarter EPS of $0.38. The current stock performance of Build-A-Bear Workshop shows a 52-week-high of $30.49 and a 52-week-low of $12.62. Moreover, at the end of the last trading period, the closing price was at $27.37. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings initiations.</a>

Upgrades

Downgrades

Initiation

Intraday Update

ATSG

AZUL

BRKL

CART

CHWY

CTRE

FCNCA

GSHD

LULU

MIRM

NCNO

ONON

PECO

PINS

ROIC

RVPH

SBRA

SITC

SONO

SPRY

SWKS

WING

ZBRA

Benzinga's Top Ratings Upgrades, Downgrades For September 20, 2023

Exane BNP Paribas analyst Nicolas Langlet downgrades WPP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WPP#NYSE">WPP</a>) from Outperform to Neutral.

Exane BNP Paribas Downgrades WPP to Neutral

Companies sensitive to low-end consumer - JPM

WPP reports H1 results

WPP declares interim dividend of 15.0p

WPP plc 2024 Q3 - Results - Earnings Call Presentation

In a report released today, Thomas Singlehurst from Citi maintained a Buy rating on WPP (WPP – Research Report), with a price target of £11.00. The...

Citi Sticks to Its Buy Rating for WPP (WPP)

UBS analyst Adam Berlin maintained a Sell rating on WPP (WPP – Research Report) today and set a price target of p680.00. The company's shares opene...

UBS Keeps Their Sell Rating on WPP (WPP)

Kepler Capital  Sticks to Their Buy Rating for WPP (WPP)

Barclays analyst Julien Roch maintained a Buy rating on WPP (WPP – Research Report) today and set a price target of £9.60. The company's shares clo...

Barclays Keeps Their Buy Rating on WPP (WPP)

In a report released today, Steve Liechti from Deutsche Bank maintained a Buy rating on WPP (WPP – Research Report), with a price target of p950.00...

WPP (WPP) Receives a Buy from Deutsche Bank

WPP plc (WPP) Q2 2024 Earnings Call Transcript

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Press Releases

Doceree Launches HIEP to Unveil the Untapped Potential of Healthcare Digital Platforms

WPP Integrates Anthropic's Claude Foundational AI Models into WPP Open Using Amazon Bedrock, Elevating Capabilities for its 114,000 Marketers

CMI Media Group Taps KERV Interactive Technology to Launch 'Video Attention' Metrics for Pharmaceutical Advertising

WPP and IBM Team Up to Revolutionize Business-to-Business Marketing with Generative AI

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