U.S. Pre-Market Update | European and U.S. Markets Edge Higher; UBS Q3 Net Profit Down 16% Year-on-Year; Watch Procter & Gamble’s Earnings Report

UBS Group AG, Switzerland’s largest bank, reported on Tuesday that its net profit for the third quarter of 2019 amounted to $1.049 billion, a 16% decline year-on-year. UBS is streamlining its investment banking division and cutting costs to cope with challenging market conditions. The bank released its Q3 2019 financial results on Tuesday, October 22, 2019. The report showed earnings per share (EPS) of $0.28, slightly below the market expectation of $0.29; adjusted pre-tax profit of $1.459 billion; share repurchases totaling $306 million during the quarter; and operating income of $7.088 billion, down 6% year-on-year. Wall Street analysts noted that in mid-October, Boeing was revealed to have known about flaws in the 737 MAX aircraft’s systems long before the crashes—potentially costing Boeing and its investors tens of billions of dollars. Reports indicate that two analysts from UBS and Credit Suisse have downgraded Boeing’s credit rating and lowered their target price for Boeing stock by $95, which could reduce the company’s total market capitalization by $53 billion. Several Boeing executives have reportedly resigned. Infosys, India’s leading IT outsourcing giant, saw its stock plunge as much as 16% on October 22—the largest intraday drop in over six years—and dragged down broader market indices. This followed an anonymous whistleblower complaint alleging that CEO Salil Parekh employed improper practices to inflate profits. Infosys’s Board stated that, upon receiving the complaint, it launched an investigation, submitted the complaint to the company’s Audit Committee on October 10, and forwarded it to the Board’s non-executive members on October 11. The Audit Committee has engaged an independent law firm to conduct a separate investigation. Key Upcoming Events: 20:30 ET — Canada Core Retail Sales MoM for August; 22:00 ET — U.S. Existing Home Sales MoM for September; 22:30 ET — Bank of Canada Business Outlook Survey. Key Earnings Reports to Watch: Snap, Fifth Third Bancorp, Hasbro, Procter & Gamble, Carrefour, New Oriental. Notable Rating Changes: Upgrades: — BofA Merrill Lynch upgraded Hewlett Packard Enterprise (HPE) from “Underperform” to “Buy,” with a target price of $19; — RBC Capital Markets upgraded Pinterest from “Sector Perform” to “Outperform,” raising its target price from $30 to $35; — Wolfe Research upgraded Lyft from “Outperform” to “Peer Perform.” Downgrades: — UBS downgraded Boeing from “Buy” to “Neutral,” lowering its target price from $470 to $375; — Credit Suisse downgraded Boeing from “Outperform” to “Neutral,” lowering its target price from $416 to $323.

Royal Bank of Canada: Downgrades Snap (SNAP.US)

Royal Bank of Canada (RBC): Downgraded Snap Inc. (SNAP.US) from “Outperform” to “Sector Perform,” and lowered its target price from $54.00 to $40.00. Snap Inc. (SNAP.US) Company Overview: Snap, Inc. operates its camera platform. Its products include Snapchat—a mobile application enabling users to capture and share photos and videos using built-in cameras and editing tools; Friends Page—allowing users to create and share Stories, Groups, Videos, and Chats; Discover—enabling users to search for and view relevant Stories; Snap Map—displaying friends nearby, along with their Stories and Snaps; Memories—a feature for saving personal favorites; and Spectacles—sunglasses equipped with cameras that take photos and interact directly with the Snapchat app. The company’s primary revenue source is advertising. Snap, Inc. was founded in 2010 by Robert C. Murphy IV, Evan Thomas Spiegel, and Robert C. Murphy, and is headquartered in Santa Monica, California.

RBC Capital Maintains RPM International Buy Rating, Cuts Target Price to $126

Jun 6, 2026

RBC Capital maintained its Buy rating on RPM International while cutting its price target to $126. The firm cites an updated outlook but retains a positive investment stance on the company.

Moomoo

2026-04-08

BofA cuts RPM International stock price target on raw material costs

2026-04-09

BMO Reiterates RPM International Stock Rating on Earnings Beat

2026-04-13

RPM International (NYSE:RPM) Price Target Raised to $130.00

2026-05-03

PFA Pension Acquires Stake in RPM International Inc.

2026-05-18

BofA Securities Maintains RPM International With Buy Rating, Keeps Target Price at $125