Shares of major auto manufacturers came under pressure as Morgan Stanley's Adam Jonas downgraded several companies, including $General Motors (GM.US)$ , $Ford Motor (F.US)$, $Rivian Automotive (RIVN.US)$ , and $Magna International Inc (MG.CA)$. He highlighted risks from China's overproduction and rising delinquency rates in the U.S. auto market.
Jonas noted that China produces 9 million more cars than it sells, imp...

UBS Downgrades Snap After Earnings, Says Rising Competition Will Keep Pressure on Stock
$Snap Inc (SNAP.US)$ said Q4 EPS was $0.14, better than the consensus of $0.11, while revenue of $1.3 billion (flat year-over-year) was in line with expectations. DAUs increased 17% year-over-year to 375 million. Following the results and guidance, UBS downgraded Snap to Neutral from Buy with a price target of $10.00.
Shopify Initiated With a Sector P...