Ternus Takes the Reins at Apple as SLB's Acquisition Plans Spark Market Reaction
Apple's leadership has changed hands, as John Ternus succeeded Tim Cook as CEO. Under Cook's tenure, Apple grew from a company valued below $350 billion in 2011 to one worth around $4.6 trillion today. Despite this growth, Rosenblatt analyst Barton Crockett maintained Apple at Neutral and raised its price target to $303.
Meanwhile, on the trading front, Jason Snipe of Odyssey Capital Advisors named Goldman Sachs as his final trade. The stock gained some traction after HSBC analyst Saul Martinez upgraded it from Reduce to Hold with a price target of $995.
SLB N.V., however, saw its shares fall 4.9% on Tuesday. The company recently agreed to acquire Kelvion for approximately $3.4 billion in cash and assume about $0.7 billion in debt. This deal is expected to strengthen SLB's Data Center Solutions business.