Apple (AAPL): Credit Suisse upgraded Apple to overweight from neutral, and raised the price target on the stock to $201 per share, implying a 16% upside from Tuesday’s close. Analyst Shannon Cross noted Apple’s growing services business and large customer base as bullish drivers for the stock. Apple shares are are up 15% in the past month.
Digital World Acquisition Corporation (DWAC): Digital World Acquisition Corp., the SPAC set to merge with Trump’s media company, delayed its earnings report, noting in the filing that ‘additional time is needed to prepare the financial statements’ for the most recent quarter. Digital World Acquisition Corp. anticipates it will be able to file its Form 10-Q within the five-day grace period. The delay follows DWAC asking shareholders to vote in favor of extending its deadline to complete its deal with Trump Media by a year to September 8, 2023.
Cassava Sciences (SAVA): Shares soared following the disclosure that board member and well-known investor Sanford Robertson bought 100,000 shares of the company, worth just over $2 million. Regulatory filings revealed Cassava CFO Eric Schoen also purchased shares earlier this month, totaling 2,500 shares for $19.95 per share.
Canoo (GOEV): Shares of the electric vehicle startup jumped in after hours trading after a Form 4 filing showed CEO and Chairman Tony Anguila increased his stake in the company. Anguila bought 200,000 shares at $3.99. Earlier this month, Canoo reported its losses widened in the second quarter, prompting Roth Capital to cut its rating on the stock to neutral from buy and lower its price target to $3.50 per share.