Companies to Watch: Spotify downgraded, FDA signs off on Palatin drug, FedEx cuts prices

Here are the companies Yahoo Finance is watching today.

New worries for Spotify (SPOT). The stock was downgraded at Evercore from In-line to Underperform. The analysts worry about Spotify hitting its targets for the quarter and call the latest profit estimates "unachievable."

Shares of Palatin (PTN) are getting a lot of attention after the FDA signed off on a new treatment for to boost female sexual desire. Vyleesi will be sold in partnership with AMAG pharmaceuticals. It activates pathways in the brain involved in sexual desire and will be available in select pharmacies starting in September.

FedEx (FDX) is reportedly slashing prices in the wake of losing a big shipping contract with Amazon. The Wall Street Journal says FedEx is offering some online merchants 2-day air shipping for the same price as slower ground delivery. However, some experts warn FedEx's air network isn't built to handle e-commerce. FedEx reports earnings tomorrow after the close.

A Facebook (FB) executive says the social media site is in favor of regulation to address issues like cyberbullying and fake news. Nick Clegg, the former leader of the UK's Liberal Democrats party, who now leads global affairs for Facebook, says it's not up to the private sector to decide how to balance free speech with public harm and that Facebook isn't "shunning" government intervention.

Disney's (DIS) “Toy Story 4” dominated the box office over the weekend, bringing in about $238 million globally, a record for an animated film. That's higher than “Incredibles 2,” which debuted globally at $235.8 million. Still the film failed to beat estimates domestically, where it took in $118 million, about $17 million less than expected.