Wall Street analyst research calls

What happened: Wall Street analysts initiated or upgraded several stocks across various sectors last week. Notable upgrades included Netflix (NFLX) to 'Buy' by Phillip Securities, IBM (IBM) to 'Overweight' by JPMorgan, and Devon Energy (DVN) and Twilio (TWLO) to 'Buy' by Goldman Sachs. Additionally, Adobe (ADBE) was upgraded to 'Buy' by HSBC, and Lyft (LYFT) received a 'Buy' rating from Rothschild & Co Redburn. Meanwhile, the market experienced a global semiconductor sell-off, with the Nasdaq dropping 2%, and rising 10-year Treasury yields gutting Monday's opening rally.

Market impact: Tech stocks, particularly semiconductors, were negatively affected by the sell-off, while energy stocks like Devon Energy saw upgrades driving their share prices. The broader market indices, such as the Dow and S&P 500, were impacted by geopolitical events like Iran ceasefire talks and rising Treasury yields. The upgrades and downgrades influenced individual stock prices, with Netflix, IBM, Adobe, and Lyft experiencing positive momentum following their respective upgrades.

What to watch next: Investors should closely monitor the upcoming earnings season, with many companies set to report their second-quarter results in the coming weeks. Key earnings dates include Netflix on July 19 and IBM on August 2. Additionally, investors should keep an eye on geopolitical developments, particularly around Iran, and the movement of Treasury yields, which could continue to impact broader market indices.