On this episode of Stock Movers:
- Walmart shares drop on the heals of a US credit downgrade from Moody’s, as President Donald Trump tells the retailer to “eat the tariffs.” Trump’s comments on Saturday are in response to Walmart’s statement on May 15 that tariffs and increasing economic turbulence means the world’s largest retailer will have to raise prices.
- Netflix shares fall after the company is downgraded to neutral from overweight at JPMorgan, with analysts citing a more balanced risk-reward in the streaming service provider’s shares following their outperformance.
- Reddit shares are after the web forum operator is downgraded to equal-weight from overweight at Wells Fargo, with analysts saying that recent user disruptions are likely to be more permanent as Google “more aggressively” implements AI features in search.
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