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Hibbett Sports Inc. was upgraded Wednesday to positive from neutral at Susquehanna Financial Group on the belief that Hurricanes Irma and Harvey will benefit the sports retailer’s new digital platforms. The price target was raised to $17 from $11. Hibbett discussed the launch of its e-commerce site in July, which many analysts believed was too late. “[P]rior to the storms, the timing of the benefits from Hibbett’s new digital presence was unclear,” wrote analysts led by Sam Poser. “Now we believe the hurricane-induced demand will act as a bridge to the sustainable improvements supported by Hibbett’s beefed up digital presence. Hibbett has over 32% exposure to hurricane-ravaged regions, which will see significant increases in replacement footwear sales.” Analysts say the benefits will be similar to those seen post-Hurricane Katrina in 2005. Hibbett shares are up 3.4% in early Wednesday trading, but down 63.5% for the year so far. The S&P 500 index is up 12.1% for 2017 to date.

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U.S. equity markets opened on a subdued note on Wednesday after reaching all-time highs on Tuesday, as traders are focused on the Federal Reserve’s interest-rate decision at 2 p.m. Eastern. Although the market isn’t expecting any change to interest rates, investors will be anticipating an update to monetary policy and Fed Chairwoman Janet Yellen’s outlook for the economy and stubbornly low inflation at a news conference a half-hour after the release of the central bank’s statement. The S&P 500 opened 0.36 points or 0.01% higher at 2,507, while the Dow Jones Industrial Average slipped 0.01% or 2.3 points to 22,370 points at the open. The Nasdaq Composite started Wednesday 5.8 points–0.09%– lower at 6,456. In individual stocks, General Mills slipped after missing earnings, dropping 6.4%.

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Panera Bread Co. said Wednesday that it will now offer nearly all of its entrees in a smaller size, creating a new kids menu that includes 250 “clean” combinations that don’t have artificial flavors, preservatives and other chemicals. Panera’s Chief Executive Ron Shaich is also challenging the CEOs of other restaurant chains like McDonald’s Corp. and Wendy’s Co. to eat their own company’s kids menu for a week, “and if not, to take a thoughtful look at that they are offering our smallest guests.” Panera announced a merger with JAB in April. The PowerShares Dynamic Food & Beverage Portfolio is down 2.8% for the year so far while the S&P 500 index is up 12% for the period.

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Victoria’s Secret parent L Brands Inc. was downgraded to market perform from outperform at Cowen & Company on concerns that without higher bra pricing there are risks to margins and same-store sales. The price target was lowered to $39 from $40. Analysts say L Brands has is a category leader, but there are several challenges ahead, including the need to maintain lower pricing in the $20-to-$30 range on sports bras and bralettes in order to maintain share while also offering bras in the $50-to-$60 range, driving store traffic, and sports bra competition. “Victoria’s Secret needs to rebalance the assortment in their core lingerie offering after the shift toward bralettes and sport last year pressured average unit retail,” Cowen said in a Wednesday note. L Brands shares are down 1.1% in premarket trading, and down more than 40% for the year so far. The S&P 500 index is up 12% for 2017 to date.

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Shares of 3M Co. fell 0.8% in premarket trade Wednesday, to help knock Dow Jones Industrial Average futures into negative territory, after J.P. Morgan turned bearish on the consumer and industrial products company, citing concerns over valuation. The stock’s premarket price decline of $1.76 would shave about 12 points off the Dow’s price, while Dow futures were down 10 points. Analyst Stephen Tusa cut his rating to underweight from neutral, saying the recent rally in the shares appear to ignore the risks stemming from slowing end markets in auto, electronics and China. Tusa said he believes it is also getting more expensive to drive growth. “Combine these concerns with a multiple near the high end of its historical range and we see a negative skew on the risk reward, with potential downside catalysts including negative consensus revisions and stubbornly weak U.S. price performance which would reinforce concerns around channel distruption,” Tusa wrote in a note to clients. Still, he raised his price target to $201 from $185. The stock, which closed at a record high of $213.76 on Monday, has run up 19.6% year to date through Tuesday, while the Dow has rallied 13.2%.

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Sanofi and Alnylam Pharmaceuticals Inc. on Wednesday reported positive results in a late-stage trial of a treatment for Hereditary ATTR (hATTR) Amyliodosis patients with polyneuropathy. Alnylam shares jumped 24% after resuming trading following a halt. In a joint statement, the companies said an investigational RNAi therapeutic met its primary and secondary endpoints. The disease is an inherited one that is progressively debilitating and often fatal and is caused by mutations in the TTR gene. TTR protein is produced in the liver and usually acts as a carrier for vitamin A. Mutations can cause proteins to accumulate and damage organs and tissue, including the heart. About 50,000 people worldwide suffer from the disease, which currently has no approved treatment apart from liver transplant. Patients typically have a life expectancy of 2.5 to 15 years after the first symptoms appear. “This is a significant milestone that supports our belief that RNAi therapeutics have the potential to become an innovative new class of medicines for patients with rare genetic diseases,” said Elias Zerhouni, M.D., president, global R&D at Sanofi in a statement. Alnylam shares had gained 100.4% in 2017 through Tuesday, while the S&P 500 has gained 12%.

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Bed Bath & Beyond Inc. shares 14% premarket Wednesday, as analysts weighed in on earnings released last Tuesday that fell well short of expectations. SunTrust Robinson Humphrey analysts noted that other home retailers are not performing as weakly, and reiterated their argument from earlier this year that the company needs strength in everyday product value, as well as customer messaging. “Neither appear to be in the cards in the near term for BBBY which, in our opinion, relies too heavily on the archaic practice of heavy couponing for both,” analysts wrote in a note. SunTrust reiterated its hold rating on the stock and its estimates and stock price target are under review. KeyBanc analysts reiterated their underweight rating on the stock and cut their price target to $21, or 22% below its current level. “We remain supportive of mgmt’s investments in the business, and remain hopeful that they start to benefit the top line,” they wrote. “However, in the NT, margins remain under significant pressure and further deteriorated in the quarter.” Shares have fallen 33% in 2017 through Tuesday, while the S&P 500 has gained 12%.

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Shares of General Mills Inc. tumbled 4.3% in premarket trade Wednesday, after the food company, which brands include Cheerios, Haagen-Dazs and Better Crocker, missed fiscal first-quarter profit and sales expectations. Net income for the quarter to Aug. 27 totaled $408.6 million, or 69 cents a share, after $419.5 million, or 67 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to 71 cents, below the FactSet consensus of 76 cents. Revenue fell 3.5% to $3.77 billion, just shy of the FactSet consensus of $3.79 billion. North American retail sales declined 5% to $2.44 billion, compared with the FactSet consensus of $2.45 billion, while convenience stores and foodservice sales were flat at $447 million versus expectations of $447.6 million. The company affirmed its fiscal 2018 outlook for a decline of 1% to 2% in organic net sales. The stock has lost 10.3% year to date through Tuesday, while the SPDR Consumer Staples ETF has gained 6.6% and the S&P 500 has climbed 12.0%.

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Sanofi and Alnylam Pharmaceuticals Inc. on Wednesday reported positive results in a late-stage trial of a treatment for Hereditary ATTR (hATTR) Amyliodosis patients with polyneuropathy. In a joint statement, the companies said an investigational RNAi therapeutic met its primary and secondary endpoints. The disease is an inherited one that is progressively debilitating and often fatal and is caused by mutations in the TTR gene. TTR protein is produced in the liver and usually acts as a carrier for vitamin A. Mutations can cause proteins to accumulate and damage organs and tissue, including the heart. About 50,000 people worldwide suffer from the disease, which currently has no approved treatment apart from liver transplant. Patients typically have a life expectancy of 2.5 to 15 years after the first symptoms appear. “This is a significant milestone that supports our belief that RNAi therapeutics have the potential to become an innovative new class of medicines for patients with rare genetic diseases,” said Elias Zerhouni, M.D., president, global R&D at Sanofi in a statement. Alnylam shares were halted premarket for the news, but have gained 100.4% in 2017 through Tuesday, while the S&P 500 has gained 12%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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