– Goldman Sachs upgraded Gap and Tapestry to "buy" from "neutral" while downgraded Levi Strauss to "neutral" from "buy." Goldman said its moves were based on which companies can thrive in an atmosphere that will see consumers become more discerning with their apparel spending. Gap added 2.
7% in the premarket, with Tapestry up 2% and Levi Strauss losing 1.2%. – The restaurant operator's stock slid 3.7% after Goldman downgraded it to "sell" from "neutral." Goldman said it was cautiously optimistic about the long-term results of the company's effort to turn around its Chili's chain, but thinks 2023 will be choppy in terms of sales and profit margins.
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Amgen emerges frontrunner in Horizon deal as Sanofi drops bidAmgen Inc is in advanced talks to buy biotech company Horizon Therapeutics Plc , the Wall Street Journal reported on Sunday, while rival bidder French health group Sanofi announced it had dropped its bid.
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