Group 1 - Target Corp (TGT) will end its shop-in-shop partnership with Ulta Beauty (ULTA) in 2026, leading to a 1.5% decline in stock price to $103.83, with support at the $100 level [1] - Year-to-date, Target's stock is down 23.3%, indicating a need for a post-earnings rebound to escape consolidation [1] - Target is set to report second-quarter earnings on August 20, with expectations of declines in both earnings and revenue year-over-year [4] Group 2 - Target's stock has experienced three consecutive post-earnings declines, including a significant 21.4% drop in November [4] - The stock's options market is pricing in a potential move of 10.9% following the earnings report, regardless of direction [4] - Recent downgrades include a shift to "underperform" from "neutral" by Edgewater Research, while Truist raised its price target to $17 but maintained a "hold" rating [5] Group 3 - The consensus 12-month price target for Target is $105.68, representing a slim 1.8% premium to current levels, suggesting potential for downgrades or price-target cuts [6] - In the options market, puts have gained popularity, with a 50-day put/call volume ratio of 0.94, ranking higher than 90% of readings from the past year [7]

Group 1 - Sweetgreen Inc (NYSE:SG) stock has declined 4.5% to $14.21 after TD Cowen downgraded the restaurant chain to "hold" from "buy" and reduced its price target from $25 to $15, citing that same-store sales are unlikely to normalize until 2026 and that urban presence is pressured by competition and a plateaued return to office dynamics [1] - Sweetgreen is experiencing its worst single-day percentage drop since June 5, with shares down more than 56% in 2025 and wrapping up their third consecutive quarterly loss, marking the worst quarter since December 2022 [2] - Despite the downgrade, eight out of 14 brokerages covering Sweetgreen maintain "buy" or better ratings, with a consensus 12-month price target of $22.27, indicating a 57% premium to the current stock price [3] Group 2 - A shift in sentiment among options traders is noted, with a 50-day call/put volume ratio of 3.07, ranking higher than 95% of readings from the past year, which could present additional headwinds for the stock [4] - There is a notable increase in put options trading, with 5,057 puts traded, six times the intraday average volume, compared to 2,566 calls, indicating a bearish sentiment shift [5]

Core Viewpoint - A securities class action lawsuit has been filed against Reddit, Inc. for failing to disclose significant changes in Google Search's algorithm that adversely affected user traffic and advertising revenues during the class period from October 29, 2024, to May 20, 2025 [1][2]. Group 1: Allegations of the Complaint - The complaint alleges that Reddit's management did not disclose that changes in Google Search's algorithm, including new AI features, were causing users to stop their queries on Google Search, leading to reduced traffic to Reddit [2]. - It is claimed that the management was aware that the increase in the search term "Reddit" was due to users finding answers directly on Google Search, rather than intending to visit Reddit [2]. - The complaint states that the zero-click search phenomenon was significantly reducing traffic to Reddit, which the company could not overcome in the short term [2]. - As a result, the complaint alleges that the company's public statements regarding user rates and advertising revenues were materially false and misleading [2]. Group 2: Analyst Downgrades and Stock Price Impact - On May 19, 2025, Wells Fargo analysts downgraded Reddit's stock, lowering the price target from $168 to $115 per share, citing that new AI features in Google Search would likely cause permanent disruptions to user traffic [3]. - Following the Wells Fargo downgrade, Reddit's stock price fell from $113.23 on May 16, 2025, to $107.99 on May 19, 2025, representing a decline of approximately 4.2% [4]. - On May 21, 2025, Baird analysts also downgraded Reddit's stock, reducing the price target from $140 to $120 per share, echoing concerns about the impact of Google Search's new developments on Reddit's traffic [5]. - After the Baird downgrade, Reddit's stock price dropped from $105.64 on May 20, 2025, to $95.85 on May 21, 2025, a decline of about 9.3% [5].

Group 1 - Rivian Automotive Inc shares are down 2.9% to $14.45, ending a four-day winning streak after a downgrade from Jefferies from "buy" to "hold" due to concerns over the R2 program, partnerships, and weak demand outlook [1] - Despite the drop, Rivian's stock remains above its year-to-date breakeven mark after reaching its highest level since January [2] - Nearly 70% of the 26 covering brokerages have a "hold" or worse recommendation, with eight analysts still maintaining a "buy" rating and a 12-month average price target of $14.59, indicating potential for further downgrades [3] Group 2 - Short interest in Rivian has increased by 11.7% over the past two reporting periods, now accounting for over 20% of the stock's total available float, suggesting significant bearish sentiment [4]

Core Viewpoint - The stock of Progressive (PGR) experienced a significant decline of almost 4% following a downgrade by analyst Meyer Shields, despite positive earnings results and price target increases from other analysts [1][2][3]. Group 1: Analyst Actions - Meyer Shields downgraded Progressive from outperform to market perform, maintaining a price target of $288 per share [3]. - Several analysts provided bullish perspectives on Progressive's earnings, with at least three raising their price targets [2]. Group 2: Company Performance Insights - Shields noted that the growth of Progressive's in-force auto policies is expected to slow due to moderating rate increases from competitors [4]. - Concerns were raised regarding Progressive's earned rates facing pressure from increased claims [4]. - Despite the downgrade, there is a belief that Progressive's management has demonstrated the ability to find new growth avenues, potentially mitigating pressure on core activities [5].

Group 1 - Starbucks Corporation's stock has decreased by 4.4%, trading at $78.50, following a downgrade by Baird from "outperform" to "neutral" and a price target cut from $114 to $85 due to near-term earnings uncertainty [1] - The stock has a year-to-date deficit of 14.1% and has fallen 11.4% over the past 12 months, marking its fifth losing week in six, with a potential 22% decline over three days [2] - Among the 32 brokerages covering Starbucks, 19 maintain a "buy" or better rating, indicating potential for further downgrades, while options traders are showing defensive behavior with a put/call volume ratio of 1.05 [3] Group 2 - Today's options activity shows 10,000 calls traded, which is double the intraday average volume, with the most active contract being the weekly 4/17 106-strike call where new positions are being sold to open [4]