Rexford Industrial Realty and Qualcomm Shares Drop After Analyst Downgrades

Rexford Industrial Realty (NYSE:REXR) was downgraded by Wall Street Zen to a "strong sell" rating, joining other analysts who trimmed price targets and shifted ratings. The REIT opened at $37.84, reported earnings that missed expectations, and saw its average market rating fall to "hold" with a consensus target of $40.38.

Qualcomm (NASDAQ:QCOM) fell 2.6% in mid‑day trading after UBS Group cut its price target from $190 to $170 and kept a neutral rating. The chipmaker traded as low as $146.15, with other research firms also adjusting targets and ratings. Insider sales were disclosed, adding to the downward pressure on the stock.