Here are Monday's biggest calls on Wall Street. Citi opens a negative catalyst watch on Estée Lauder Citi opened a negative catalyst watch on the stock and said it's cautious heading into earnings in late August. "At EL, we are opening a 90-day negative catalyst watch as we expect below consensus initial FY'24 guidance. While that is somewhat anticipated by the market, we don't believe investors will view a low guidance as conservative given large cuts over the last two years." Wells Fargo downgrades Fox to underweight from equal weight Wells Fargo downgraded the stock due to continuous cord-cutting risks. " FOXA 's earnings are mostly Fox News earnings, and Fox News is facing viewership and share pressures. With ecosystem risks also elevated we find our estimate outlook more negative and below the Street. We downgrade to Underweight."