Nomura analyst Romit Shah downgraded Lam Research (LRCX) to Neutral due to the extended timeline for its merger with KLA-Tencor (KLAC) after the Department of Justice, or DOJ, requested more information. The analyst cannot assign a probability to the deal going through, but believes downside is approximately $14 if the deal breaks, and upside is approximately $11 if the deal goes through. Shah does not view Lam's risk/reward as compelling and lowered his price target to $85 from $95.

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Notable companies reporting after the market close, with earnings consensus, include Meta Plataforms (META), consensus $4.32... IBM (IBM), consensus $1.60... ServiceNow (NOW), consensus $3.14... Lam Research (LRCX), consensus $7.30... Chipotle Mexican Grill (CMG), consensus $11.68... O'Reilly Automotive (ORLY), consensus $9.26... Ford Motor (F), consensus 42c... United Rentals (URI), consensus $8.32... Align Technology (ALGN), consensus $1.97... Molina Healthcare (MOH), consensus $5.59... Teradyne (TER), consensus 33c... Universa Health Services (UHS), consensus $3.16... Western Union (WU), consensus 41c.