On this edition of Stock Movers:
- Coinbase (COIN) shares gain after Bernstein raised the target on the crypto trading platform to $510, a Street high and 48% above Tuesday’s close, from $310. The company’s revenue is set to more than double by 2027 as it benefits from strong trading growth, as well as non-trading revenue lines such as staking and stablecoins, analyst Gautam Chhugani wrote in a note to clients.
- FedEx (FDX) shares sank after the carrier warned that its profit would be worse than expected this quarter and declined to offer guidance for the rest of the year, underscoring the significant impact that President Donald Trump’s trade war continues to have on its business. The company’s shares fell 5.6% as of 9:33 a.m. in New York on Wednesday after FedEx reported quarterly results, extending their slide for the year. The shipping giant’s stock was down 18% in 2025 through Tuesday’s close, while the S&P 500 index rose modestly over that span.
- General Mills (GIS) shares fell after the food company reported a larger-than-expected drop in 4Q organic sales, driven by a 7% decline in its North America Retail segment. GIS also projects a steeper decline in annual adjusted EPS than the current consensus estimate. “Our full-year sales trends did not meet our expectations, driven in part by continued value-seeking orientation and weaker consumer sentiment,” CEO Jeff Harmening said.
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