Stock Movers: Lucid Jumps on Robotaxi News, Starbucks Downgraded, Steve Madden Upgraded

Lucid's Robotaxi Venture

• 🚀 Lucid Group is partnering with Uber and Nuro to launch a robotaxi fleet, planning to deploy at least 20,000 vehicles over six years.
• ⚡ The collaboration aims to have these robotaxis operational in unidentified US cities starting in 2026.
• 📈 Despite the significant news, Lucid's stock surge was initially 62% in pre-market trading, settling around a 30% gain, though it's only up 2% year-to-date.

Starbucks Faces Downgrade

• 📉 Starbucks shares fell following a downgrade by Jefferies, who moved their recommendation to 'underperform' from 'hold'.
• ⚠️ Jefferies cited that the stock has surpassed reasonable expectations for improving fundamentals and that its valuation is unwarranted.
• 📊 Concerns include the assessment of their China operations, which are in the process of being sold for a $10 billion price tag, and a 3% decrease in same-store sales in the third quarter.
• ☕ Starbucks is currently flat year-to-date, but experienced a 2% drop in stock price on the day of the report.

Steve Madden Sees Optimism

• ✨ Steve Madden shares rose approximately 6% after Citi upgraded the stock from 'neutral' to 'buy'.
• 👟 Citi believes the footwear maker's margins are bottoming out as fashion trends become more favorable.
• 📈 The upgrade provides much-needed optimism for the stock, which is down 40% year-to-date.
• 📊 Analysts anticipate that second-quarter EPS will represent the low point for shoe margins, with expectations of upside from the acquisition of KG and navigating tariff pressures.