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☆ Stocks making the biggest moves premarket: Macy's, Boeing, Archer-Daniels-Midland and more
▼ + stars: | 2024-01-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Macy's – Shares of the department store giant added 2% in premarket trading after the company over the weekend rejected a $5.8 billion proposal by Arkhouse Management and partner Brigade Capital Management to take the retailer private. Boeing — The airline stock slid 1.8% after the U.S. Federal Aviation Administration recommended operators visually inspect the mid-exit door plugs of Boeing 737-900ER aircraft, which are similar to the ones grounded after the Alaska Airlines flight emergency. Archer-Daniels-Midland – Shares slid nearly 12% after the food processor placed CFO Vikram Luthar on administrative leave amid an investigation into some accounting practices and issued fourth-quarter earnings guidance that fell below prior expectations. Spirit Airlines , JetBlue Airways — The airlines said Friday that they plan to appeal a federal judge's ruling that blocks their planed merger. Spirit Airlines added about 1% before the bell, while JetBlue Airways slipped 0.8%.

Persons: Macy's, Vikram Luthar, Goldman Sachs, Riley, Morgan Stanley, Oppenheimer, —, — CNBC's Pia Singh, Sarah Min, Tanaya Macheel, Lisa Kailai Han Organizations: Arkhouse Management, Brigade Capital Management, Boeing, U.S . Federal Aviation Administration, Alaska Airlines, Daniels, Midland, Bloomberg, U.S . Securities, Exchange Commission, Spirit Airlines, JetBlue Airways Locations: Brazil

☆ Goldman says these stocks with increasing profitability will beat the market this year
▼ + stars: | 2024-01-22 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

The firm rebalanced its return on equity growth basket of stocks, which is sector-neutral to the S & P 500. It contains 50 names with the highest consensus expected ROE growth over the next 12 months. Stocks with greatest expected ROE growth include gold mining company Newmont , wireless infrastructure real estate investment trust American Tower , chipmaker Advanced Micro Devices and toy manufacturer Hasbro , according to Goldman. The communications-focused REIT has the second-highest expected ROE growth — 48% — of the names on Goldman's list. In addition to these names, Netflix and T-Mobile are also among the names in Goldman's ROE growth basket.

Persons: Goldman Sachs, ROE, David Kostin, Kostin, Goldman, Newmont, REIT, Goldman's ROE Organizations: Federal Reserve, Devices, Hasbro, AMD, Nvidia, UBS, Netflix, Citigroup Locations: Newmont, Goldman's

☆ Stocks making the biggest moves midday: Wayfair, iRobot, Spirit Airlines, Celsius and more
▼ + stars: | 2024-01-19 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

This is Wayfair's third restructuring since summer 2022, and it is expected to save the company about $280 million. The bank said Hertz's short-term profitability would be hampered by electric vehicle repair costs, rising operating expenses and vehicle depreciation. Spirit Airlines — Shares surged more than 20% after the budget airline raised its fourth-quarter forecast . Schlumberger reported adjusted earnings of 86 cents per share on $8.99 billion of revenue, higher than the 84 cents per share on $8.95 billion of revenue expected by analysts surveyed by LSEG. Celsius Holdings — Shares of the drink company slid more than 10% following a downgrade to neutral from buy at Bank of America.

Persons: Hertz, Wells Fargo, bullishness, Goldman Sachs, — CNBC's Michelle Fox, Alexander Harring, Tanaya Macheel, Jesse Pound, Pia Singh, Samantha Subin Organizations: Jefferies, Spirit Airlines —, Spirit Airlines, iRobot, Amazon, Street, European Union, Texas, UBS, Nvidia, Semiconductor, Devices, Travelers Companies, LSEG, Schlumberger, Broadcom, Bank of America, State Locations: European

☆ Stocks making the biggest moves premarket: Spirit Airlines, Nvidia, Wayfair and more
▼ + stars: | 2024-01-19 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

This is Wayfair's third restructuring since 2022 and is expected to save the company about $280 million. Hertz — Hertz shed 2.8% on a Jefferies price target cut and downgrade to hold from buy. AMD added 1.6%, after reaching its highest-ever closing price on Thursday amid increased investor interest in the second-largest standalone GPU maker. DraftKings — Shares of the sports betting company rose more than 1% after Stifel upgraded DraftKings to buy from hold. J.B. Hunt Transport Services – Shares rose more than 3% after the company posted mixed quarterly results.

Persons: Hertz, Wells, Stifel, J.B, J.B . Hunt, Macheel, Samantha Subin, Jesse Pound Organizations: Jefferies, EV, Spirit Airlines, JetBlue, Texas, UBS, Nvidia, AMD, ESPN Bet, Hunt Transport, LSEG

Thursday's analyst calls featured an upgrade to a car rental stock and a big downgrade to an airline. The bank also hiked his price target on the tech giant to $225 per share, implying upside of 23%. — Pia Singh 5:36 a.m.: Citi downgrades Spirit Airlines to sell Citi is throwing in the towel on Spirit Airlines . Week to date, Spirit shares are down nearly 60%. Spirit shares were down more than 4% in the premarket.

Persons: Morgan Stanley, Hertz, Andrew Percoco, Percoco, — Pia Singh, Wamsi Mohan, Fred Imbert, Kirk Materne, Materne, Dan Dolev, Dolev, he's, CFRA, Kenneth Leon, Berkshire Hathaway, Leon, Ranjan Sharma, Sharma, bode, Adam Jonas, Jonas, Morgan, Stephen Trent, Trent Organizations: CNBC, flipside, Citi, Spirit Airlines, JetBlue, Bank of America, Apple Bank of America, Apple, Microsoft, ISI, Activision, Activision Blizzard, Mizuho, Fidelity National Information Services, Paramount Global, RedBird Capital, Warner Bros ., Comcast, Paramount's, Showtime, Paramount, JPMorgan, Grab Holdings, Hertz Global Holdings, Jan, Citi downgrades Spirit Airlines, Spirit, Airlines Locations: Berkshire, 1H24, Wednesday's

☆ Stocks making the biggest moves midday: Apple, Humana, Taiwan Semiconductor, Birkenstock and more
▼ + stars: | 2024-01-18 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Taiwan Semiconductor Manufacturing — U.S.-listed shares of the semiconductor company popped 9.79% on the back of a fourth-quarter profit and revenue beat . Fastenal earned 46 cents per share on revenue of $1.76 billion, while analysts polled by StreetAccount forecast 45 cents per share on $1.75 billion in revenue. Adjusted earnings per share were 32 cents, versus the 27 cents expected from analysts polled by StreetAccount. KeyCorp — The Cleveland-based bank dropped 4.62% after reporting fourth-quarter adjusted earnings per share of 3 cents, down from 38 cents a year prior. Kinder Morgan — Kinder Morgan shares slid 1.42% after the natural gas pipeline operator reported fourth-quarter revenue of $4.04 billion, missing the LSEG consensus estimate of $4.41 billion.

Persons: Sekisui, Hertz, Morgan Stanley, Fastenal, Birkenstock, KeyCorp —, Kinder Morgan — Kinder Morgan, CNBC's Lisa Han, Samantha Subin, Alex Harring, Yun Li, Pia Singh, Sarah Min Organizations: Apple —, Nasdaq, Bank of America, Apple, CVS Health, MDC Holdings, MDC, Taiwan Semiconductor Manufacturing, Taiwan Semiconductor, Nvidia, Qualcomm, Devices, Spirit Airlines, JetBlue, Citi, StreetAccount, Horizon, Discover Financial, Wolfe Research, JPMorgan Locations: KeyCorp — The Cleveland, Singapore

☆ Stocks making the biggest moves premarket: Discover Financial Services, Spirit Airlines, Humana, Hertz and more
▼ + stars: | 2024-01-18 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Discover Financial Services — The financial services stock dropped more than 7% after posting mixed fourth-quarter results. Hertz — The automotive rental company's stock climbed about 6% following an upgrade to overweight from Morgan Stanley earlier on Thursday. Kinder Morgan — Shares of the energy infrastructure company fell less than 1% after Kinder Morgan's fourth-quarter revenue came in lower than expected. Fastenal — The industrial supplies company added 4% after posting fourth-quarter earnings that exceeded analyst expectations. Humana — The health insurance company lost more than 14% on Thursday after guiding for full-year 2023 adjusted earnings of $26.09 per share.

Persons: Hertz, Morgan Stanley, Adam Jonas, Hertz's, BofA, Ranjan Sharma, Kinder Morgan —, Kinder Morgan's, Kinder, Fastenal, Chris Caso, — CNBC's Brian Evans, Michelle Fox, Fred Imbert, Jesse Pound, Pia Singh, Samantha Subin Organizations: Discover Financial, Apple, Bank of America, Spirit Airlines, JetBlue, Citi, Spirit, Alaska Air Group —, Boeing, Alaska Airlines, Federal Aviation Administration, JPMorgan, Wolfe Research, Humana, Alcoa, Revenue Locations: Singapore

☆ Treasury yields edge higher as investors monitor data and Fed comments
▼ + stars: | 2024-01-17 | by ( Matt Clinch | ) www.cnbc.com time to read: +1 min

The yield on the 10-year Treasury note edged higher to 4.0694%. The 2-year Treasury yield rose by around 5 basis points to trade at 4.278%. Treasury yields were higher early Wednesday, with the 10-year yield holding above 4%, as investors focused on fresh data and commentary from Federal Reserve members. On Tuesday, yields jumped after comments from Federal Reserve Governor Christopher Waller, who suggested that while the central bank will likely cut rates this year, it may take its time. At the World Economic Forum in Davos, more European Central Bank members indicated that markets were getting ahead of themselves on rate cut projections.

Persons: FactSet, Christopher Waller, Klaas Knot, Jeff Cox, Pia Singh Organizations: Treasury, Federal Reserve, Investors, Economic, Central Bank, CNBC Wednesday Locations: Davos, Dutch

☆ Stocks making the biggest moves midday: Instacart, Spirit Airlines, Marathon Digital and more
▼ + stars: | 2024-01-17 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Following the ruling, Bank of America downgraded Spirit to an underperform rating, while Susquehanna downgraded the airline to negative. Rivian — The electric vehicle manufacturer slid nearly 8% following a downgrade to a hold rating from Deutsche Bank. Polaris , Mattel — The stocks moved following rating changes from Morgan Stanley. Meanwhile, toymaker Mattel slid 2.8% after Morgan Stanley downgraded shares to equal weight, citing lofty consensus estimates and a tough 2024 outlook. Marathon Digital — The crypto mining firm slid 3% during Wednesday's trading session.

Persons: JetBlue's, Sinclair —, Sinclair, SolarEdge — SolarEdge, Teladoc, Davidson, Nutanix, William Blair, Uber, Ford, Morgan Stanley —, Ted Pick, Morgan Stanley, TD Cowen, Gregory Lewis, —, Alex Harring, Yun Li, Pia Singh, Samantha Subin Organizations: Spirit Airlines, JetBlue Airways —, Bank of America, Susquehanna, Interactive, LSEG, Diamond Sports Group, Diamond, Barclays, Broadcom, VMware, Wolfe Research, Deutsche Bank, UBS, JPMorgan, Polaris, Mattel, Automotive, Boeing, Federal Aviation Administration, BTIG, Marathon Digital Locations: Europe, China

☆ UBS raises S&P 500 target for 2024, sees nearly 8% gain from here
▼ + stars: | 2024-01-16 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

The S & P 500 is in for yet another strong year, according to UBS. The firm lifted its year-end target on the S & P 500 from 4,850 to 5,150, representing 7.7% upside for the benchmark stock index from Friday's close. The S & P 500 ended last week at 4,783.83. This year's more dovish Federal Reserve policy supports higher valuations, Golub said, upping his 2024 earnings-per-share estimate on the S & P 500 by $10 to $235. "While the S & P 500 advanced throughout 2023, leadership has become more pro-cyclical over the past 3 months, an indication of investor optimism toward the economy," Golub said.

Persons: Jonathan Golub, Golub, upping Organizations: UBS, Federal, Technology

☆ Stock futures are lower to start shortened trading week: Live updates
▼ + stars: | 2024-01-15 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on January 11, 2024 in New York City. Stock futures are lower Monday night as Wall Street awaits further data and bank earnings that will provide a better glimpse into the state of the American consumer. S&P 500 futures dipped more than 0.1%, while Nasdaq 100 futures shed 0.2%. Another batch of bank earnings will be out during this holiday-shortened week, providing further clues about consumer health and data on credit card payments and delinquencies. Charles Schwab and M&T Bank , as well as several regional banks, are also slated to release their earnings this week.

Persons: FactSet, Goldman Sachs, Morgan Stanley, Charles Schwab, Wells Fargo — Organizations: New York Stock Exchange, Stock, Futures, Dow Jones Industrial, Nasdaq, PNC Financial Services, T Bank, JPMorgan, Citigroup, Dow Locations: New York City, Friday's

☆ Proposed Kroger, Albertsons merger will take more time to close as scrutiny continues
▼ + stars: | 2024-01-15 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Supermarket chain Kroger's proposed acquisition of rival Albertsons is now expected to close in the first half of Kroger's fiscal year 2024 instead of early this year. Kroger, Albertsons and C&S Wholesale Grocers said they are in "active and ongoing dialogue" with the Federal Trade Commission and individual state attorneys general, according to the joint statement. In a bid to close the proposed $24.6 billion deal, Kroger agreed in September to divest 413 stores and eight distribution centers to C&S for $1.9 billion. With regulatory approval, the merger may require C&S to purchase an additional 237 stores from Kroger and Albertsons, Kroger said last year. Washington state's attorney general filed a lawsuit Monday seeking to block the proposed merger, calling it "harmful" for shoppers and workers.

Persons: Rodney McMullen, Kroger, —, Elizabeth Warren, Bernie Sanders, Alexandria Ocasio, Cortez Organizations: Albertsons, Antitrust, Consumer, Capitol, S Wholesale Grocers, Federal Trade Commission, Kroger, Safeway, Acme, Washington, & $ Locations: Washington, Sens, Alexandria

☆ Climate change has forced millions to flee their homes — and Asia is 'not prepared'
▼ + stars: | 2024-01-04 | by ( Chelsea Ong | ) www.cnbc.com time to read: +8 min

Fida Hussain | Afp | Getty ImagesAs the number of climate disasters increase, more people are being forced to flee their homes, especially in Asia. South Asia most at riskIn the region, South Asia is likely to have the most people displaced by climate change due to the density of its populations and its vulnerability to the effects of climate change, he added. According to the World Economic Forum, 10% to 18% of South Asia's GDP is at risk due to climate disasters. Some have nothing to return to, Oberoi explained, as climate change may have hurt their crop production at home. While we are talking and discussing and quibbling, the millions of climate migrants are the forgotten casualties of climate change.

Persons: Fida Hussain, Vinod Thomas, Thomas, Vinod Thomas ISEAS, Yusof Ishak, Tamara Wood, Pia Oberoi, Oberoi, Wood Organizations: Afp, Getty, ISEAS, Yusof, Institute, Economic, Kaldor, International Refugee, CNBC, OECD Locations: Pakistan, Asia, Philippines, China, South Asia, Bangladesh, Afghanistan, South, America, Europe, Australia, Tuvalu, Southeast Asia, UNHCR

While the stock market raced toward record highs in late 2023, some hedge funds mounted bets against a myriad of names. Against this backdrop, CNBC Pro screened FactSet data for stocks trading on the New York Stock Exchange and Nasdaq Exchange with the most short interest as of Dec. 15. Lucid Group , another EV maker, also saw a notable short interest increase, to about 27% of its float. Short interest also increased for used car retailer Carvana , climbing more than 7% to 35 million shares, or about 37% of its float. Companies that have continued to see notable short interest since November include plant-based meat producer Beyond Meat and solar energy companies Sunnova Energy and SunPower .

Organizations: CNBC Pro, New York Stock Exchange, Nasdaq Exchange, Lucid Group, Sunnova Energy Locations: U.S, Austria

☆ Goldman says cash on sidelines will fuel January stock run before it fades in February
▼ + stars: | 2024-01-03 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Even 2022, when the S & P 500 fell more than 19%, saw bigger inflows. These investors missed out with the S & P 500 ending the year with a 9-week winning streak to bring the benchmark's return for 2023 to 24%. .SPX 1Y mountain S & P 500, 1 year The S & P 500 fell to start the trading year on Tuesday and was indicated to fall slightly again on Wednesday. January is typically the strongest month of year for equity inflows anyway, Goldman notes. If investors allocate the typical percentage to stocks they do every January, this month could see $60 billion of inflows.

Persons: Goldman Sachs, Goldman, Scott Rubner, Rubner, Michael Bloom Organizations: Global

☆ These stocks will be the biggest S&P 500 winners of 2024, according to analysts
▼ + stars: | 2024-01-01 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Using the CNBC Pro Stock Screener Tool , we looked for S & P 500 stocks that analysts project will have the best performance in 2024 according to their consensus price targets. Halliburton's stock price dipped 8.1% last year, while shares of Marathon Oil similarly went down, losing 10.9%. Analysts' consensus price targets on both stocks indicate more than 34% upside over the next 12 months from Friday's close. Their average price targets suggest shares of Delta Air Lines and United Airlines Holdings have upside of more than 31% and 42%, respectively. Analysts have a consensus price targets of $95.20 on the stock, suggesting shares could gain roughly 28% this year, adding to its 18.3% gains in 2023.

Persons: Stocks, Morgan Stanley, Raymond James, Cowen's, Helane Becker, Becker, Bernstein, Stacy Rasgon Organizations: Nvidia, Warner Bros, CNBC, Halliburton, Marathon Oil, Analysts, UBS, Airlines, Delta Air Lines, United Airlines Holdings, American Express, . Insurance, Arch, Evercore ISI, Arch Capital, Discovery, Moderna Locations: Friday's

☆ Strategists say red hot stock market rally is due for a breather
▼ + stars: | 2023-12-20 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

The equity market is due for a cooldown, according to several strategists, who are telling clients to begin positioning themselves defensively in preparation for a slow-growth earnings environment next year. The S & P 500 has rallied almost 24% this year, but is up 11% in the fourth quarter alone. The SPDR S & P Regional Banking ETF , for example, is up 24% this quarter, but still down 12% for the year. According to Calvasina, industrials are the most overvalued sector in the S & P 500, while energy and communication services offer the most attractive valuations. .GSPHC YTD mountain S & P Health Care sector performance this year.

Persons: Venu Krishna, Krishna, haven't, Lori Calvasina, Calvasina, Marko Kolanovic, Kolanovic Organizations: Barclays, Dow Jones, Federal Reserve, CNBC, Big Tech, Regional Banking, RBC Capital, P Health Care, JPMorgan Locations: Krishna, SPX, Europe

☆ Citi sees a big year for stocks in 2024 with S&P 500 finishing at 5,100
▼ + stars: | 2023-12-11 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

This year's broader market rally isn't over just yet, according to Citi. "We look for further S & P 500 upside in the year ahead. Citi set a year-end target of 5,100 for the S & P 500, dependent on a $245 earnings per share estimate for the index. The S & P 500 , meanwhile, is up nearly 20% in 2023. "Our top-down sector earnings modeling continues to argue for more consistent sector level growth during 2024.

Persons: Scott Chronert, Chronert, Russell, Cyclicals Organizations: Citi, Apple, Nvidia, Microsoft, Bloomberg, Federal Reserve Locations: U.S

☆ Citi says buy this little-known biotech stock with nearly 60% upside
▼ + stars: | 2023-12-05 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Battered-down biotechnology stock Travere Therapeutics could see a strong turnaround, according to Citi. Analyst Carly Kenselaar upgraded the clinical-stage company to buy/high risk and raised her price target by $3 to $10, which suggests shares could climb nearly 59% over the next 12 months. Kenselaar's new rating comes after some positive signals indicate the company is on track to obtaining full approval for its Filspari drug. "With the stock trading below cash, we believe risk/reward is skewed quite favorably into a full approval decision, supporting our upgrade," Kenselaar wrote in a Tuesday note. The move would extend its cash runway into 2028, the company said, which Kenselaar pointed to as another catalyst for her increased price target.

Persons: Carly Kenselaar, Kenselaar, Filspari, Travere Organizations: Citi, U.S . Food, FDA Locations: U.S

☆ Stocks making the biggest moves midday: Apple, Nio, CVS Health, GitLab and more
▼ + stars: | 2023-12-05 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading. Nio — The Chinese automaker climbed about 3% after reporting a smaller-than-expected loss in the third quarter. Nio has taken steps to bring down costs recently, including a 10% cut to its workforce last month. CVS Health — Shares gained 4% after CVS said it would overhaul the way it prices prescription drugs . GitLab — The software company's shares jumped more than 12% a day after the company reported better-than-expected results for the fiscal third quarter.

Persons: Nio, GitLab, Adecoagro, Albemarle —, Piper Sandler, —, Samantha Subin, Hakyung Kim, Sarah Min, Alex Harring, Pia Singh, Michelle Fox Organizations: Apple, Bank of America, CVS, FactSet, UBS —, UBS, Suisse, Nokia, Ericsson —, Ericsson's, Ericsson, Albemarle Locations: China, U.S, Monday's, Ericsson's U.S, Sweden, Finland

Bank of America raised its rating on Adecoargo to buy , with its price target pointing to more than 26% upside. The firm maintained its $450 price target on the pizza chain, which implies shares could jump 12.6%. Analyst Doug Anmuth upped his price target by $15 to $220, implying shares could still gain more than 13%. The firm's new $230 price target implies the overweight-rated stock could gain 18.5% over the next 12 months. The analyst increased his 2024 year-end price target to $30 per share, which suggests 32.2% potential upside from Monday's close.

Persons: Piper Sandler, Oppenheimer Oppenheimer, Brian Bittner, Bittner, — Pia Singh, Jessica Reif Ehrlich, Ehrlich, Doug Anmuth, Morgan Stanley, Benjamin Swinburne, Roth, Chip Moore, Moore, Nuvera, Yuri Fernandes, Fernandes, …, Piper Sandler downgrades Albemarle, Charles Neivert, Neivert, Isabella Simonato, Fred Imbert Organizations: CNBC, Bank of America, Spotify, Analysts, JPMorgan, Yale, Hyster, Argentine Locations: Argentina, Albemarle, 4Q23, China, Europe, 2024E, 2025E

☆ David Mamet Looks Back on a Long, Contentious Career
▼ + stars: | 2023-12-04 | by ( Ellen Gamerman | Photography Pia Riverola For Wsj. Magazine | ) www.wsj.com time to read: 1 min

David Mamet’s new book, ‘Everywhere an Oink Oink: An Embittered, Dyspeptic, and Accurate Report of Forty Years in Hollywood,’ is out Dec. 5. Photo: Pia Riverola for WSJ. MagazineThe cover of David Mamet’s memoir features a drawing of a pig at a typewriter. It hints at the irreverent, even incendiary, tone of the pages that follow in his new book, “Everywhere an Oink Oink: An Embittered, Dyspeptic, and Accurate Report of Forty Years in Hollywood,” which is out Dec. 5. Mamet, who also drew the cartoons, uses the book to sound off about the entertainment industry.

Persons: David Mamet’s, ’, Pia Riverola, Mamet Locations: Hollywood

☆ Stocks making the biggest moves midday: Spotify, Virgin Galactic, Lululemon and more
▼ + stars: | 2023-12-04 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Lululemon — Shares declined 2% after Wells Fargo downgraded the athleisure company to equal weight from overweight. The firm said Lululemon's prior positive catalysts have already played out, and it forecasts more muted growth in 2024. Spotify — Shares added 8.8% after the music streaming company announced it would lay off 17% of its workforce. The three stocks will replace Sealed Air , Alaska Air Group and SolarEdge Technologies . Virgin Galactic — Shares of the space company plunged nearly 15%.

Persons: Wells, MicroStrategy, Dow, FirstSource, Richard Branson, Branson, KeyBanc, Carvana, Morgan Stanley, — CNBC's Hakyung Kim, Jesse Pound, Alex Harring, Samantha Subin, Yun Li, Lisa Kailai Han, Sarah Min, Michelle Fox Organizations: Marathon, Spotify, Technologies, Uber Technologies, Dow Jones, Builders, Alaska Air Group, SolarEdge Technologies, Galactic —, Financial, United, JPMorgan, Alaska Air Group —, Hawaiian Airlines, Alaska Air, Hawaiian Holdings, General Motors, Cadillac, Chevrolet, Mizuho Securities, United Auto Workers, Palo Alto, Palo Alto Network Locations: MicroStrategy, British, Seattle, Palo

☆ Morgan Stanley says this cybersecurity stock has further to go after becoming first in industry with $100 billion market value
▼ + stars: | 2023-12-04 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Morgan Stanley thinks Palo Alto Networks will be the leader in artificial intelligence-driven security platforms, eventually propelling it far past its peers. Palo Alto Networks on Friday approached $300 a share, becoming the first cybersecurity company to surpass $100 billion in market capitalization, the investment bank said. Morgan Stanley rates Palo Also overweight and has a $304 price target on the stock, but the most bullish case says the stock is worth $350. Palo Alto Networks' growth is a significant milestone for the security industry, according to Fodderwala. Correction: Cortex XSIAM is a security platform from Palo Alto Networks.

Persons: Morgan Stanley, Hamza Fodderwala, Fodderwala, CNBC's Michael Bloom Organizations: Networks, Alto Networks, Palo Alto Networks Locations: Palo, billings

☆ Stocks making the biggest moves premarket: Uber, Coinbase, Spotify, Alaska Air and more
▼ + stars: | 2023-12-04 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Uber Technologies — The ride-hailing stock rose 4% after S & P Dow Jones Indices on Friday said it will enter the S & P 500, along with Jabil and Builders FirstSource . The three will replace Sealed Air , Alaska Air Group and SolarEdge Technologies . Alaska Air Group — The Seattle-based carrier slid 12% after agreeing to acquire Hawaiian Airlines for $1.9 billion. Alaska Air, which would pay $18 a share, would take on $900 million in debt as part of the deal. Alaska Air is also coming out of the S & P 500 index.

Persons: —, Coinbase, MicroStrategy, Dow, Wells, Carvana, — CNBC's Michelle Fox, Hakyung Kim, Pia Singh, Samantha Subin Organizations: Marathon, Technologies, Dow Jones, Builders, Alaska Air Group, SolarEdge Technologies, General Motors, Cadillac, Chevrolet, Mizuho Securities, GM, United Auto Workers, Spotify, CNBC, Hawaiian Airlines, Alaska Air, Hawaiian Holdings, Alaska, JPMorgan Locations: Seattle

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