Pacific Crest downgraded its rating on shares of Ambarella Inc. (AMBA) Tuesday morning to "Sector Weight."
Ambarella gapped open sharply lower this morning and is now down 4.49 at $60.56. The stock has dropped to over a 1-week low.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.