Verizon (VZ) – Goldman Sachs added Verizon to its "Conviction Buy" list, saying it offers investors the most attractive combination of total return and risk, thanks to the stability of its wireless business.
Xerox (XRX) – Xerox dropped its $35 billion hostile bid for HP Inc.
Home Depot (HD) – The home improvement retailer will institute new safety measures in response to the outbreak, including earlier store closures and limiting the number of customers allowed into stores at one time. The company has also increased paid time off for hourly workers.
British American Tobacco (BTI) – The cigarette maker's US biotech unit – Kentucky BioProcessing – is developing a COVID-19 vaccine derived from tobacco leaves that is currently undergoing pre-clinical testing. The unit said it could produce between 1 million and 3 million doses per week starting in June.
Royal Bank of Scotland (RBS), HSBC (HSBC), Barclays (BCS) – These and other big U.K.
Becton Dickinson (BDX) – The medical products maker and privately held diagnostics company BioMedomics will launch a test that can determine both current and past exposure to the
Macy's (M) – The retailer's stock is being removed from the S&P 500 index and will be placed in the S&P SmallCap 600 as of April 6. Macy's has a market cap of about $1.5 billion, the smallest in the S&P 500. Carrier Global, which will become a publicly traded company as of Friday following its spin-off from United Technologies (UTX), will replace Macy's in the S&P 500.
Caterpillar (CAT) – Caterpillar will withhold annual salary increases for executives, managers, and salaried employees, in an effort to hold down expenses amid the
Quest Diagnostics (DGX) – Quest has pulled its previous financial guidance for 2020, as it tries to determine the impact of the
Papa John's Pizza (PZZA) – The restaurant chain's stock was upgraded to "buy" from "neutral" at MKM Partners, which said the pizza segment of the restaurant industry appears better positioned to deal with the current environment, given their delivery and digital infrastructure.