Trending: Salesforce stock dips on Keybanc downgrade, AstraZeneca drug trial falls short

July 9, 2026 - 18:12

Shares of Salesforce moved lower on Thursday after Keybanc analysts downgraded the stock, citing concerns about slowing growth and a challenging enterprise spending environment. The downgrade from Overweight to Sector Weight sent the cloud software giant's stock down roughly 2% in midday trading. Keybanc noted that while Salesforce has made progress on margins, the company faces headwinds from longer deal cycles and cautious customer budgets. The move comes as investors continue to weigh the impact of artificial intelligence on the company's core products.

Meanwhile, AstraZeneca saw its stock dip after the company announced that a key late-stage trial for a cancer treatment did not meet its primary endpoint. The drug, which was being tested for a specific form of lung cancer, failed to show a statistically significant improvement in progression-free survival compared to standard therapy. The miss is a setback for AstraZeneca's oncology pipeline, which has been a major driver of its recent growth. Analysts had been optimistic about the drug's potential, making the trial results a surprise to the market.

On the earnings front, PepsiCo reported quarterly results that beat analyst expectations on both revenue and profit. The snack and beverage giant benefited from steady demand for its core products, even as consumers pull back on discretionary spending. PepsiCo also reaffirmed its full-year guidance, providing some reassurance to investors worried about the broader consumer slowdown. Despite the solid report, shares were little changed as the market digested the mixed signals from other sectors.