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Apple shares experienced a 1.4% decline after Jefferies downgraded the tech giant to a hold from a buy rating. The downgrade was based on concerns about the high expectations for the iPhone 16 and 17 due to weaker-than-expected initial demand. NXP Semiconductor saw a 0.8% increase in shares after being upgraded to a buy from neutral by UBS, citing healthy inventory levels and strong margin resilience. Amazon shares dropped nearly 2% following a downgrade by Wells Fargo to equal weight from overweight, citing slowing growth and competition from Walmart. Pfizer saw a 3% increase in shares after activist investor Starboard Value took a $1 billion stake in the company, seeking a turnaround. KB Home shares slipped 2% after being downgraded by Wells Fargo to underperform from equal weight. Coty saw a 2.5% jump in shares after an upgrade to buy from hold by Jefferies, highlighting growth in the fragrance segment. Hershey shares dipped 1% after receiving downgrades from UBS and Bernstein, citing challenges in the 2025 outlook and headwinds from GLP-1 drugs. American Express saw a 1% decrease in shares after being downgraded by JPMorgan to neutral from overweight. Wynn Resorts gained 2.5% following news that it received the first commercial gaming operator license in the United Arab Emirates. Ally Financial saw a 1.4% increase in shares after being upgraded by JPMorgan to overweight from neutral, citing an appealing risk-to-reward ratio.

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