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☆ Goldman Sachs adds Nvidia to its October 'conviction list'
▼ + stars: | 2023-10-02 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Nvidia has been the market leader this year, and Goldman Sachs expects it to maintain that position going forward. It has a buy rating and a price target of $605, implying upside of 39%. NVDA YTD mountain Monster year for NVDA The bank also added IT stock Okta and Cintas to its list, while removing Salesforce and Johnson Controls . Goldman has a $100 price target on Okta, implying shares could gain roughly 22.7% from Friday's close. For uniform provider Cintas, Goldman said thinks the company's organic growth has structurally reset higher than pre-Covid levels, driven by volumes and growing opportunity in delivering uniforms into the healthcare vertical.

Persons: Goldman Sachs, Goldman, Okta, — CNBC's Michael Bloom Organizations: Nvidia, Johnson Controls, Bank of America Locations: Friday's

☆ Jim Cramer's week ahead: Focus on September jobs report
▼ + stars: | 2023-09-29 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer said next Friday's nonfarm payrolls — the employment data over the past month — may decide if October will see a market rally. On Tuesday, spice and flavor manufacturer McCormick will report earnings, and beverage company Molson Coors will have an analyst meeting. Cramer said the tech company is coming off the report of a great quarter and forecast, and he thinks the stock could have more room to run. Cramer again emphasized Friday's labor report, saying in order to have a "strong October," the nonfarm payrolls need to show some slack in the workforce. Cramer noted the jobs report will not come out if the government shuts down.

Persons: CNBC's Jim Cramer, Cramer, Kellogg, WK Kellogg, McCormick, Okta, we'd, Jay Powell Organizations: Labor, Molson Coors, Dell, Federal Reserve, Fed

The FBI is investigating the MGM and Caesars breaches, and the companies did not comment on who may be behind them. In some cases - Mandia did not say which ones - hackers tied to Scattered Spider placed bogus emergency calls to summon heavily armed police units to the homes of executives of targeted companies. ALPHV, which according to Mandiant is a "ransomware-as-a-service", would provide services such as a helpdesk, webpage and branding, and in turn get a cut of whatever Scattered Spider would make from the hack. While many ransomware attacks go unpublicised, the MGM hack was a vivid example of the real-world impact of such incidents. Ransomware gangs often function like large organizations, and continue to evolve their methods to adapt to the latest security measures organizations use.

Persons: Bridget Bennett, helpdesk, they’d, Wendi Whitmore, Adam Meyers, it's, Kevin Mandia, Mandiant, Reuters couldn't, CrowdStrike's Meyers, helpdesks, David Bradbury, they've, Bradbury, ALPHV, Okta's Bradbury, Whitmore, Zeba Siddiqui, Raphael Satter, Chris Sanders, Claudia Parsons Organizations: MGM, MGM Resorts, REUTERS, FRANCISCO, Alto Networks, Caesars Entertainment, FBI, Caesars, Google, Reuters, Microsoft, British, Thomson Locations: Las Vegas , Nevada, U.S, WASHINGTON, Canada, Japan, United States, reassign, Las Vegas, San Francisco, New York

☆ Salesforce gave former employees stuffed toys wearing boomerang shirts as the company seeks to bring back ex-staff amid a hiring drive
▼ + stars: | 2023-09-20 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Salesforce held an alumni event last week with 50 former executives who were gifted with stuffed animals. The company is encouraging former executives to "boomerang" amid a hiring drive. Salesforce recently announced plans to hire 3,000 people despite brutal layoffs earlier this year. Kelman, who left the company in 2011 for leadership stints at the likes of Amazon Web Services and Oracle, said it was "good timing," and rejoined as president and chief marketing officer. Salesforce said it is hiring 3,300 employees across sales, engineering, and its data cloud product teams to help grow its artificial intelligence business last week, per Bloomberg.

Persons: Salesforce, Marc Benioff, Kendall Collins, he's, Collins, Ariel Kelman, Kelman, Miguel Milano, Celonis, Brian Milham, Katie Kutzer, David Winslow, Craig Shull, Steve Fisher, Dean Robison Organizations: Service, CNBC, Bloomberg, Amazon Web Services, Oracle Locations: Wall, Silicon, San Francisco, Salesforce, Madrid

☆ Hackers who breached casino giants MGM, Caesars also hit 3 other firms, Okta says
▼ + stars: | 2023-09-19 | by ( Zeba Siddiqui | ) www.reuters.com time to read: +3 min

David Bradbury, chief security officer of the identity management company Okta, said five of the company's clients, including MGM and Caesars, had fallen victim to hacking groups known as ALPHV and Scattered Spider since August. In an interview with Reuters, Bradbury didn't name the other companies, but said Okta was cooperating with official investigations into the breaches. "We've seen consistently over the past six to 12 months, a ramp up in these types of attacks," Bradbury said. Bradbury said the group had breached into MGM and obtained access to its Okta client, which allowed it further access to more credentials in the identity management firm's system. Bradbury said Mandiant's description of the group's tactics aligned with what Okta had observed in the recent hacks.

Persons: Bridget Bennett, David Bradbury, Bradbury didn't, Okta, Bradbury, We've, ALPHV, Google's, Zeba Siddiqui, Michael Perry Organizations: MGM, MGM Resorts, REUTERS, FRANCISCO, MGM Resorts International, Caesars Entertainment, Caesars, Reuters, Google's Mandiant Intelligence, Thomson Locations: Las Vegas , Nevada, U.S, Las Vegas, Macau, San Francisco, United States

☆ Okta CEO on MGM breach: Companies are under 'massive attack from cybercriminals'
▼ + stars: | 2023-09-15 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Okta CEO Todd McKinnon told CNBC's Jim Cramer on Friday that all companies are under attack from cybercriminals. McKinnon explained he would not comment publicly on the ongoing issue, but said the company is working with MGM. "Okta customer or not," he said, "they're all under massive attack from cybercriminals. The amount that cybercriminals can gain from attacking companies and organizations and governments is super high. So one of the things that we pride ourselves at Okta is working very closely, collaborating with everyone in the ecosystem," he said.

Persons: Todd McKinnon, CNBC's Jim Cramer, McKinnon Organizations: MGM Resorts, MGM Locations: cybercriminals

☆ Okta CEO Todd McKinnon goes one-on-one with Jim Cramer
▼ + stars: | 2023-09-15 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Okta CEO Todd McKinnon goes one-on-one with Jim CramerOkta Co-Founder and CEO Todd McKinnon joins 'Mad Money' host Jim Cramer to talk quarterly earnings, the recent cyberattacks on casinos, corporate partnerships and more.

Persons: Todd McKinnon, Jim Cramer Okta, Jim Cramer

☆ The Okta system was not breached in the recent casino cyberattacks, says CEO Todd McKinnon
▼ + stars: | 2023-09-15 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Okta system was not breached in the recent casino cyberattacks, says CEO Todd McKinnonOkta Co-Founder and CEO Todd McKinnon joins 'Mad Money' host Jim Cramer to talk quarterly earnings, the recent cyberattacks on casinos, corporate partnerships and more.

Persons: Todd McKinnon Okta, Todd McKinnon, Jim Cramer

The cybercrime group has made a ransom demand to MGM as well, those sources told CNBC's Contessa Brewer. The 8-K report, similar to one filed by MGM Resorts on Wednesday, acknowledges the hack as a material event. The cybercrime group demanded a $30 million ransom from Caesars, but the company ultimately agreed to pay about half that, sources said. Bloomberg previously reported the ransom and that the same group is behind the attacks on both companies. It wasn't immediately clear why Caesars delayed filing the report disclosing the hack and ransom for weeks.

Persons: CNBC's Contessa Brewer, Charles Carmakal Organizations: Caesars, CNBC, MGM, U.S . Securities, Exchange, MGM Resorts, Google, Bloomberg, vx, Twitter, Security, SEC Locations: United States, Twilio

☆ One of the most successful VCs in cybersecurity, Ted Schlien, names 3 new trends to watch
▼ + stars: | 2023-09-07 | by ( Julie Bort | ) www.businessinsider.com time to read: +5 min

One of Kleiner Perkins longest-serving investors quietly launched a firm to specialize in security startups. Schlein sees three big new security markets, including an area he's "most scared about." That's partly because strong security startups tend to command higher-than-typical prices when acquired, Schlein says. Security startup trendsSchlein says he currently sees three big trends for next-gen cybersecurity startups. While at Kleiner, Schlein backed startup Apurio, and wrote a check at Ballistic for ArmorCode.

Persons: Kleiner Perkins, Ted Schlein, Schlein, It's, he's Organizations: Ballistic Ventures, Symantec, Security, Companies, Cequence, IT, Software, Hewlett, Packard, ArmorCode Locations: Kleiner

CrowdStrike shares rose as much as 10.2% to $164.41 on Thursday and was last trading at $162, up 8.59%. Okta's shares rose 17.6% to $86.50, their highest level since May. Other cybersecurity firms were also trading higher, buoyed by CrowdStrike and Okta. Multiple analysts raised their price target for the shares of CrowdStrike and Okta in reaction to the news. Austin, Texas-based CrowdStrike delivers cloud-based cybersecurity protection through its Falcon platform that is used by many large U.S. companies.

Persons: Dado Ruvic, CrowdStrike, Okta, Chibuike Oguh, Lance Tupper, Mark Porter Organizations: REUTERS, CrowdStrike Holdings, Okta Inc, Wall, Zscaler Inc, Nasdaq, Palo Alto Networks, Thomson Locations: CrowdStrike, Austin , Texas, U.S, San Francisco, New York

☆ Stocks making the biggest premarket moves: Dollar General, Salesforce, Palantir and more
▼ + stars: | 2023-08-31 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Check out the companies making the biggest moves before the bell:Dollar General — The discount retailer tumbled 15.3% after reporting second-quarter earnings per share of $2.13, missing the StreetAccount consensus estimate of $2.47. Revenue also missed, coming in at $9.80 billion versus the $9.93 billion expected. Campbell Soup — Shares added about 1% after the company reported revenue of $2.07 billion, beating the $2.06 billion expected from analysts polled by Refinitiv. Second-quarter adjusted earnings per share came in at 31 cents, versus the 22 cents expected from analysts polled by Refinitiv. However, its revenue guidance for the third quarter of $2.74 billion to $2.76 billion fell short of the $2.79 billion expected from analysts, per StreetAccount.

Persons: Campbell, Shopify, Morgan Stanley, Salesforce, Goldman Sachs, Cronos, Tilray, Okta, SkyWest, Raymond James, Refinitiv, —, Jesse Pound, Alex Harring Organizations: Revenue, Refinitiv, UBS — U.S, UBS, Cronos, Tilray, U.S . Department of Health, Human Services, Arista Networks, Citi, Arista, postmarket Locations: Austin , Texas, Swiss

☆ Stocks making the biggest moves midday: Tilray, Salesforce, CrowdStrike, Dollar General and more
▼ + stars: | 2023-08-31 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Salesforce — The cloud software company saw its stock jump 3% after it announced quarterly results and guidance that surpassed Wall Street's expectations. Dollar General — The discount retail chain plunged 12.2% Thursday after reporting second-quarter earnings per share of $2.13, which was lower than the StreetAccount consensus estimate of $2.47. Ciena — The network equipment stock surged nearly 16% after topping Wall Street's fiscal third-quarter earnings expectations on the top and bottom lines. Okta — Okta shares surged 13.5% after the access management company topped analysts' second-quarter earnings expectation and issued a strong full-year outlook. Victoria's Secret — The intimate apparel stock popped nearly 7% even after missing second-quarter earnings expectations on both the top and bottom lines.

Persons: Salesforce, Marc Benioff, CrowdStrike, Ciena, Morgan Stanley, Shopify, StreetAccount, Chewy, UGI, Raymond James, —, Macheel, Sarah Min, Yun Li, Alex Harring, Michelle Fox, Pia Singh, Jesse Pound Organizations: Aphria Inc, U.S . Department of Health, Human Services, Tilray Brands, Cronos, Revenue, Technologies, Arista Networks, Citi, Refinitiv, StreetAccount, Signet, UBS — U.S, Suisse Locations: Leamington , Ontario, Switzerland

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Amazon, Palantir, Exxon, Salesforce & more
▼ + stars: | 2023-08-31 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Goldman Sachs reiterates Salesforce as buy Goldman said it's standing by its buy rating on the Salesforce after its earnings report on Wednesday. JPMorgan initiates Establishment Labs as overweight JPMorgan said in its initiation of the med tech company that Establishment Labs has a "unique offering." JPMorgan initiates MP Materials as overweight JPMorgan said in its initiation of the rare-earths materials company that it sees "solid demand growth." JPMorgan downgrades Hostess Brands to neutral from overweight JPMorgan downgraded the stock mainly on valuation. Redburn Atlantic upgrades Exxon to neutral from sell Redburn upgraded the stock mainly on valuation.

Persons: Evercore, Morgan Stanley downgrades Palantir, Morgan Stanley, Goldman Sachs, Goldman, it's, Salesforce, Rosenblatt, Wells, VSCO, Uber, Raymond James, it's bullish, Truist, Canaccord Organizations: BMO, Civitas Resources, Apple, Amazon, Shopify, " Bank of America, Nvidia, Bank of America, JPMorgan, Labs, Materials, Citi, Arista Networks, Arista, Evercore, JPMorgan downgrades Hostess Brands, Exxon, ExxonMobil Locations: United States, Sell

☆ These are the top 10 things to watch in the stock market Thursday
▼ + stars: | 2023-08-31 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

Our top 10 things to watch Thursday, Aug. 31 1. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. Marlena Sloss | Bloomberg | Getty ImagesOur top 10 things to watch Thursday, Aug. 31

Persons: we're, OKTA, CRWD, Stanley Black, Decker, Nvidia's, Jim Cramer's, Jim Cramer, Jim, Jan, Marlena Sloss Organizations: Broadcom, Dollar, Costco, UBS, Management, Nvidia, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: Washington, San Francisco

☆ Salesforce CEO Marc Benioff thanked 'boomerang' employees for the company's turnaround
▼ + stars: | 2023-08-30 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +3 min

CEO Marc Benioff thanked "boomerangs," employees who left and came back, for the fast-tracked growth. Salesforce overachieved its profit margin goals in the second quarter, earlier than planned for — and CEO Marc Benioff says "boomerang" employees played a big part in the results. Three high-profile Salesforce boomerangs have re-joined the company in recent months: president and chief revenue officer Miguel Milano, chief marketing officer Ariel Kelman, and chief business officer and chief of staff to Marc Benioff, Kendall Collins. Collins worked for Salesforce from 2004 to 2012, leaving as executive vice president of Salesforce Cloud. Over the last decade, he has worked in various roles across the tech industry, most recently as chief marketing officer of Okta.

Persons: Marc Benioff, boomerangs, Benioff, Salesforce, It's, Miguel Milano, Ariel Kelman, Kendall Collins, Milano, Celonis, Kelman, Collins, Ellen Thomas Organizations: —, Salesforce International, Oracle, Amazon Web Services, AWS, Salesforce, ethomas Locations: Salesforce

☆ Okta forecasts quarterly revenue above expectations, shares surge
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

Okta's shares rose 10% after the bell, after the company also raised its annual revenue and adjusted earnings forecast. It also raised its revenue expectations for fiscal year 2024 to $2.21 billion to $2.21 billion from $2.18 billion to $2.19 billion earlier. Subscription backlog, a measure of future revenue, rose 8% to $3.03 billion. The identification software provider's revenue rose 23% in the second quarter from a year earlier to $556 million, beating expectations of $534.5 million. Its peer Cyberark Software (CYBG.F) also topped quarterly revenue expectations in June, in a positive sign for the sector.

Persons: Dado Ruvic, Okta, Arsheeya Bajwa, Krishna Chandra Organizations: REUTERS, Microsoft, Thomson Locations: San Francisco, Asia, Bengaluru

☆ Stocks making the biggest moves after hours: Salesforce, Okta, CrowdStrike, Five Below and more
▼ + stars: | 2023-08-30 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

CrowdStrike beat analysts' second-quarter expectations on the top and bottom lines. The cybersecurity company reported second-quarter adjusted earnings of 74 cents per share on revenue of $732 million. The identity and access management company exceeded analysts' second-quarter expectations. Okta posted second-quarter adjusted earnings of 31 cents per share on revenue of $556 million. Salesforce — Salesforce climbed 5.6% after the software company reported fiscal second-quarter earnings and revenue that surpassed estimates.

Persons: CrowdStrike, Refinitiv, — Okta, Okta, Salesforce — Salesforce, Salesforce, — Chewy Organizations: Refinitiv, Costco Wholesale

☆ Stock futures are little changed after a third straight winning day on Wall Street: Live updates
▼ + stars: | 2023-08-29 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

S&P 500 futures and Nasdaq 100 futures also both hovered around 0.1% higher. The moves followed a third consecutive winning session on Wall Street as investors made up some ground at the end of the month. The S&P 500 rose about 1.5%, notching its best performance since June. The Nasdaq Composite is poised to end August 2.8% lower, while the Dow and S&P 500 are both slated for drops of around 2%. Jobless claims numbers are due Thursday, followed by data on nonfarm payrolls, wages and the unemployment rate on Friday.

Persons: Dow, Tuesday's, Dow Jones, Sonu Varghese, Brown, Forman, Daniel's Organizations: New York Stock Exchange, Stock, Dow Jones Industrial, Nasdaq, Conference, U.S . Bureau of Labor Statistics, Treasury, Federal, Carson Group, Dow Locations: New York City

☆ Here are 2 major themes to watch in the week ahead after Friday's market rally
▼ + stars: | 2023-08-26 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

As August is known to be, it's been a rough month-to-date for all three of those stock market benchmarks so far. This past week, the overall market was oversold, according to Jim Cramer's trusted S & P Oscillator. After Friday's strong finish, we'll see if the market's oversold condition abates as two major themes play out in the week ahead: Earnings from two Club names — Salesforce (CRM) and Broadcom (AVGO) — and key economic reports ahead of September's Fed meeting. Outside of the labor market and inflation, we'll also get a look at the housing market with the pending home sales on Wednesday. As we heard from fellow Club name Palo Alto Networks (PANW) last week, companies are growing more cautious and more closely scrutinizing large sales deals.

Persons: Jerome Powell's, Powell, it's, Jim Cramer's, Friday's, —, It's, we've, we'll, we're, Salesforce, AVGO, We're, Brown, Forman, Campbell Soup, LULU, Jim Cramer, Jim, Angela Weiss Organizations: Nasdaq, Federal, Nvidia, Dow Jones, Broadcom, Fed, Labor, Club, Palo Alto Networks, VMWare, HEICO Corporation, Bank of Montreal, BMO, Bank of Nova, Hewlett Packard Enterprise, HP, PVH Corp, Patterson Companies, Veeva Systems, UBS, Academy Sports, Hormel, Signet Jewelers, Dell Technologies, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: Jackson Hole , Wyoming, China, Bank of Nova Scotia, New York City

☆ This Ugandan earns a bonus for each person he gets to sign up for Sam Altman's eyeball-scanning crypto project
▼ + stars: | 2023-08-24 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +12 min

The business-to-business software firm, which has a market cap of $11.5 billion, gave users the option of logging in with their World ID beginning in June. Social media app Discord also uses World ID for verification. But ultimately, the foundation envisions a future where a World ID could be used to facilitate nationwide votes, among other use cases involving banking and e-commerce. Ava Labs president John Wu tells CNBC that the self-custody feature of the Worldcoin ID is also critical. Despite his concerns, Mwangi ultimately chose to enroll in the project because he believed in the wider mission of the World ID.

Persons: Keneth Byarugaba, Byarugaba, Namureba Abel, Abel, Muvya Muthama, Muthama, Sam Altman, Peter Mwangi, I'm, Mwangi, They're, Worldcoin, John Wu, Wu, Ricardo Macieira, Annegret Hilse, hasn't, Byarugaba indoctrinates, it's, isn't, CNBC's Jordan Smith Organizations: Worldcoin, CNBC, cryptocurrency, Social, FBI, Reuters Locations: Uganda, Kampala, Nairobi, Kenya, web3, Chile, Europe, Berlin

The "AI for business" diploma offers training in data and AI for client leaders, practitioners, and WPP executives, according to WPP's website. The team work under AI expert Daniel Hulme who was appointed chief AI officer at WPP two years ago. While lawmakers and philosophers alike still debate whether content produced by generative AI models amounts to anything like human creativity, advertisers have already begun using the technology in their promotional campaigns. Unilever, which owns more than 400 brands including Dove soap and Ben & Jerry's ice cream, has its own generative AI technology that can write product descriptions for retailers' websites and digital commerce sites, it said. The company's TRESemmé haircare brand has used its AI content generator for written content and its automation tool for visual content on Amazon.co.uk (AMZN.O).

Persons: Mark Read, Read, we've, Mondelez, Shah Rukh Khan, Daniel Hulme, Nestle, Gandon, Ray, Johannes Vermeer's, Aaron Rajan, Nestle's Gandon, Martin Sorrell, You've, Ben King, Richa Naidu, Martin Coulter, Matt Scuffham, Daniel Flynn Organizations: Nestle, Unilever, Marketing, Investment, Reuters, WPP, Oreo, Cadbury, Bollywood, YouTube, Facebook, University of Oxford, Global, Google, Go, Market Technology, Consumer, Walmart, Carrefour, Kroger, Thomson Locations: Africa, India, London, Swiss, Okta

☆ Here are the 13 stocks Jim Cramer is watching, including Palo Alto, Eli Lilly, Boeing
▼ + stars: | 2023-08-14 | by ( Jim Cramer | ) www.cnbc.com time to read: +2 min

AMC (AMC): judge rules in favor of APEs. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Morgan Stanley, Eli Lilly, Bang, Goldman Sachs, David Solomon, Jim Cramer's, Jim Cramer, Jim Organizations: Alto Networks, UBS, Analysts, Mounjaro, Comcast, Union, AMAT, Nvidia Boston Properties, AMC, Boeing, Bank of America, Northrop, Parsons, Beverage, HSBC, New York Times, Jim Cramer's Charitable, CNBC Locations: Susquehanna

☆ Stocks making the biggest moves midday: AMC, U.S. Steel, PayPal, Tesla and more
▼ + stars: | 2023-08-14 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, August 22, 2022. PayPal — PayPal stock added 2% after the company announced Intuit's Alex Chriss would take over as chief executive beginning in September. Tesla — Shares slipped 2% after the company announced lowered prices on some models in China. Okta — Stock in the identity management firm added 2.4% in midday trading after an upgrade to buy from Goldman Sachs over an improving risk reward ratio. Teledyne Technologies — The conglomerate climbed 4% after Goldman Sachs upgraded the stock to a buy from neutral.

Persons: AMC's, Intuit's Alex Chriss, Andrew Carnegie, J.P, Morgan, Wells, Nikola —, Goldman Sachs, Goldman, —, Samantha Subin, Alex Harring, Pia Singh, Hakyung Kim Organizations: New York Stock Exchange, AMC —, AMC, PayPal, U.S . Steel, Goldman, Teledyne Technologies Locations: New York, Cleveland, China, Maui

☆ Stocks making the biggest moves before the bell: U.S. Steel, Tesla, Urban Outfitters and more
▼ + stars: | 2023-08-14 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Workers replace a roller that compresses steel at the A&T Stainless steel plant in Midland, Pennsylvania, March 2, 2020. U.S. Steel — Shares of the steel producer surged more than 26% premarket after it rejected a $7.3 billion buyout proposal on Sunday from rival Cleveland-Cliffs and said it's reviewing "strategic alternatives." Goldman Sachs upgraded shares of Okta to a buy rating, citing a favorable risk reward and expectations for an inflection in subscription revenues. Urban Outfitters — The clothing retailer shed 2.5% following a downgrade by Citi to neutral from buy. The Urban Outfitters brand will be slower to turn around, ultimately limiting possible upside to earnings per share, the firm wrote.

Persons: Tesla, Okta, Goldman Sachs, Wells Fargo, Parsons, Nikola —, Samantha Subin, Hakyung Kim, Sarah Min, Tanaya Macheel, Michelle Fox Organizations: &, . Steel, Weibo, Technologies, Bank of America, Outfitters, Citi, Urban Outfitters, Parsons Corporation, Hollywood, Nikola Locations: Midland , Pennsylvania, Cleveland, China, Okta, underperform

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