Royal Bank of Canada is a leading financial services institution that provides a wide range of banking and financial solutions to individuals, businesses, and institutions
The bank offers personal and commercial banking services, wealth management, investment banking, and capital markets services. With a robust network of branch locations and digital platforms, it aims to meet the diverse needs of its clients while focusing on innovation and customer service. Royal Bank of Canada is committed to enhancing the financial well-being of its customers and leveraging its expertise to support economic growth in the communities it serves.
Shares of biotech company Sarepta Therapeutics (NASDAQ:SRPT)
fell 10.8% in the afternoon session after RBC analyst Brian Abrahams downgraded the stock from a Buy to a Hold rating and slashed the price target by nearly 50% to $87. The downgrade was driven by weaker-than-anticipated feedback from physicians regarding ELEVIDYS, suggesting that market reception for the treatment had fallen short. Notably, ELEVIDYS had been a big piece of Sarepta's growth story as it contributed more than 50% of sales in the Q4'2024 quarter.
Fast-food chains are gaining investors’ and consumers' interest with innovative menu items, while the cruise company’s results showed holiday spending is strong.
Deutsche Bank expects the company’s first-quarter deliveries to be in the range of 340,000 to 350,000, much below the 386,810 deliveries reported in the corresponding quarter of 2024.
Paychex reported Q3 revenue of $1.509 billion, a 4.8% YoY increase, with EPS of $1.49 surpassing expectations. RBC analyst reiterated a Sector Perform rating on the shares of Paychex.
Chipotle Honey Chicken (CHC) is driving demand, while new equipment retrofits at stores may now cost less than what the company previously estimated, the research firm said.
Since March 2020, the S&P 500 has delivered a total return of 149%. But one standout stock has doubled the market - over the past five years, RBC Bearings has surged 299% to $338.42 per share. Its momentum hasn’t stopped as it’s also gained 14.5% in the last six months, beating the S&P by 14.3%.
Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) fell 6.3% in the morning session after the EV battle in China continued to heat up as BYD announced its new "Super e-Platform," a technology it claimed could charge electric vehicles in just five minutes. The company added that the new technology had a peak charging speed of 1,000 kilowatts. To put it in perspective, Tesla's latest superchargers maxed out at 500 kilowatts (at the time BYD announced the Super e-Platform), so BYD's tech would be doubling that.
The RBC analyst reportedly indicated that Wells Fargo could hit a higher valuation once it lifts its asset cap and achieves a 15% return on average common equity.
RBC Capital initiates Insmed with an Outperform rating, citing brensocatib's launch potential and Arikayce's growth. FDA decision on brensocatib due August 2025.
