Shares of TripAdvisor (TRIP) were lower by 2.01% to $37.15 on Monday morning, following a rating downgrade to "underperform" from "neutral" at Credit Suisse. The firm slashed its price target on the travel company's stock to $34 from $40 as well.
Credit Suisse says higher 2018 TV ad forecasts would result in a 10% EBITDA drop and a hard third quarter set up, which would need the second half of the year to accelerate in order to hit the company's transaction revenue growth guidance.
What's Hot On the TheStreet
All eyes on Apple this week: Apple's (AAPL) stock will be on the minds of Wall Street bit more than the norm this week. Shares of the tech giant have fallen 6.9% since the Nasdaq's peak on June 8 amid a broader selloff in tech. Not helping near-term sentiment on the company are two rare analyst downgrades that have questioned how big a seller the iPhone 8 will be.
But investors shouldn't be ready to throw in the towel on Apple by any stretch of the imagination.
"When you have these sellers come in, all you have to do is wait them out -- and one of the things I learned as a hedge fund manager is that patience is a true virtue," TheStreet's founder Jim Cramer, who also manages the Action Alerts PLUS charitable trust portfolio, said on Apple's recent slide.