PepsiCo, Coinbase Global and CarMax move
SPY•PepsiCo shares fell after J.P. Morgan downgraded the company to neutral; KBW resumed coverage of Coinbase with an outperform rating, and CarMax rose after beating quarterly estimates.
1. Stock moves
U.S. stock index futures traded sideways as tech and AI-linked stocks ticked higher, while rising crude oil prices and steep bond yields kept risk appetite in check amid a lack of progress in U.S.-Iran peace talks. PepsiCo shares fell after J.P. Morgan downgraded the company to neutral, KBW resumed coverage of Coinbase with an outperform rating, and CarMax rose after beating quarterly estimates. AAR Corp also rose after its first-quarter results beat estimates.
