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☆ Stocks are near record highs despite turmoil and 'erratic price action'
▼ + stars: | 2024-09-13 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The S & P 500 and Nasdaq Composite are headed for their fourth weekly gain in five weeks, up 3.5% and 5.3%, respectively. Those gains have come even after a massive but brief intraday sell-off Wednesday — which was quickly erased after the S & P 500 stayed above a key level. .SPX 5D mountain SPX 5-day chart Indeed, after all the wild swings, the S & P 500 is a scant 1.2% below an intraday record of 5,669.67 reached in July. "Erratic price action in equities suggests confusion amid ever changing market narratives," Cau wrote. "Therefore, equity price action may stay volatile and data dependent, until we get more clarity on the economic outlook."

Persons: Rob Ginsberg, Emmanuel Cau, Cau Organizations: Nasdaq, Dow Jones, Wolfe Research, Fed, Barclays Locations: U.S

(This is CNBC Pro's live coverage of Friday's analyst calls and Wall Street chatter. A biotech stock and an energy company were among the names being talked about by analysts on Friday. — Sean Conlon 6:19 a.m.: Pivotal says buy TKO Group A competitive media landscape could mean gains for TKO Group , according to Pivotal Research Group. TKO Group shares are up nearly 41% year to date. TKO YTD mountain TKO in 2024 — Sean Conlon 5:49 a.m.: JPMorgan downgrades Moderna to underweight JPMorgan sees a rocky road ahead for Moderna .

Persons: Raymond James, Srini Pajjuri, — Sean Conlon, Jeffrey Wlodarczak, Jessica Fye, Fye, it's, Ameet, Thakkar, he's, Fred Imbert Organizations: CNBC, JPMorgan, Moderna, BMO Capital Markets, GE Vernova, ARM, Research, JPMorgan downgrades Moderna, Food and Drug Administration, BMO, GE, General, Gas Power, General Electric Locations: Thursday's

☆ Wednesday's comeback shows why stocks may be volatile the rest of September
▼ + stars: | 2024-09-12 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

The S & P 500 and Nasdaq Composite shed as much as 1.6% and 1.4%, respectively. The S & P 500 and Nasdaq, meanwhile, posted gains of 1.1% and 2.2%, respectively. The comeback came as Wall Street struggles to find its footing in September, with seasonal headwinds and worries over the economy putting pressure on stocks. The S & P 500 has already posted four 1% moves in September. Correction: The Dow on Wednesday closed 124.75 higher, while the S & P 500 and Nasdaq gained 1.1% and 2.2%, respectively.

Persons: whiplash, Dow, Adam Crisafulli, Marco Iachini, Iachini, Steve Sosnick Organizations: Dow Jones Industrial, Nasdaq, Federal, Vital, Vanda Research, Interactive Brokers, Dow

The bank raised its price target on MercadoLibre Thursday to $2,500 from $2,225, suggesting 22% upside from Wednesday's close. The bank increased its price target to $230 from $200, implying nearly 16% upside from Wednesday's close. Supino also lifted the firm's price target to $93 a share, reflecting about 33% upside from Wednesday's close. Analyst Adam Berlin lowered his 12-month price target to $29 from $34, implying 6% downside. The investment firm's price target of $159 implies more than 2% downside from Wednesday's close.

Persons: Robert Ford Aguilar, — Michelle Fox, Wells, Wells Fargo, Eric Luebchow, Luebchow, Lisa Kailai Han, Sean Conlon, Wolfe, Peter Supino, Supino, Samantha Subin, BofA, George Staphos, a.m, Adam Berlin, Berlin, IPG, — Sean Conlon, Bernstein, Mark Moerdler, — Lisa Kailai Han, Stifel, Simon Yarmak, Andrea Pistacchi, Brandt Montour, it's, Montour, Fred Imbert Organizations: CNBC, Barclays, Bank of America, Diageo, Mercado, Mobile, Sprint, Wolfe Research, UBS downgrades, UBS, billings, GM, Pfizer, Oracle, Simon Property, Property Group, SPG, U.S, New York Stock Exchange Locations: Brazil, Mercado Pago, Wells Fargo, Wells, Roku, Berlin, America, U.S

☆ Investors may need to get more pessimistic before selling capitulates and stocks bottom
▼ + stars: | 2024-09-11 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Investors haven't become super pessimistic on stocks since the recent volatility bout began. Specifically, the firm's Crowd Sentiment Poll — a gauge for intermediate market sentiment — shows excessive optimism among investors after dipping to neutral last month. NDR's nearer-term daily trading composite, meanwhile, points to more neutral sentiment. Wall Street is also anxiously looking ahead to the U.S. presidential election in November. So bottom line: It may take another bout of selling to shake out the weak bullish investors and restart the long-term trend.

Persons: Ned Davis, London Stockton, Goldman Sachs downgrades, Morgan Stanley, Richard Ramsden Organizations: Ned Davis Research, London, Reserve, U.S Locations: NDR's

6:59 a.m.: Citi raises AT & T price target A wave of improving outlook for telecommunications could benefit shares of AT & T , according to Citi. The firm upgraded the telecommunications company to neutral from sell and left its $350 per share price target unchanged. "Although our 2028 EPS is still c16% ahead of consensus, we now see less scope for earnings outperformance 2024/2025," the analyst added. The firm upgraded the home furnishings stock to buy from hold and increased its price target to $156 per share to $148. His price target of $105, down from $122, implies upside of just 8.7% from Tuesday's close.

Persons: Goldman Sachs, Morgan Stanley, Jefferies, Michael Rollins, Rollins, — Brian Evans, Graham Parry, Parry, Sonoma Jefferies, William, Jonathan Matuszewski, Matuszewski, Brian Evans, Goldman Sachs downgrades Morgan Stanley, Richard Ramsden, Ramsden, Fred Imbert Organizations: CNBC, Williams, Citi, AT, JV, Apple, Communications Citi, Communications, Charter Communications, Bank of America downgrades Novartis Bank of America, Novartis, William, Elm, Brands, WSM, Goldman Sachs downgrades Morgan Stanley Investors Locations: U.S, Sonoma, Swiss, William, Tuesday's

☆ The utilities sector is up 20% in 2024. Analysts love these dividend-paying names
▼ + stars: | 2024-09-10 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

Bank of America sees yet another tailwind for utilities: The sector is a way to play falling interest rates. To that end, CNBC Pro used FactSet data to screen the S & P 1500 utilities sector, looking for companies that meet the following criteria. A total return – the stock price plus the value of reinvested dividends – of at least 10% in 2024. The stock offers a dividend yield of 3.0% and has a 2024 total return of nearly 23%. Year to date, the stock has a total return of nearly 38%, and it offers a dividend yield of 2.5%.

Persons: Savita Subramanian, Garrick Rochow, Morgan Stanley, David Arcaro, Diego's, —, Fred Imbert Organizations: Constellation Energy, NRG Energy, Mizuho Securities, Bank of America, Utilities, Real, CNBC Pro, Street, CMS Energy, Consumers Energy, CMS, NextEra, Management, Google, CNBC, PPL Locations: Jackson, Michigan, , Florida, 1Q24, Allentown, Penn

Deutsche Bank resumed coverage of Tesla with a buy rating, calling it a top pick. He also notched his price target $4 higher to $80, implying shares could gain 16.6% from Monday's close. Along with the new iPhone 16 line, the company unveiled Apple Intelligence for beta rollout next month, or new artificial intelligence capabilities for the iPhone. The iPhone 16 and 16 Plus are available for pre-order starting Friday. "At the core, we do not see Tesla as an automaker but rather a technology platform attempting to reshape multiple industries, deserving of a unique type of valuation framework," the analyst wrote.

Persons: Andrew Obin, Obin, — Hakyung Kim, David Vogt, Vogt, Morgan Stanley, Erik Woodring, Woodring, Goldman Sachs, Michael Ng, Ng, Bernstein, Douglas Harned, Harned, Daniela Nedialkova, Hakyung Kim, Tesla, Edison Yu, Yu, Fred Imbert Organizations: CNBC, Deutsche Bank, Atlantic, Costco, Bank of America, Johnson, Wall Street, Apple Intelligence, UBS, Apple, GE Aerospace GE Aerospace, GE Aerospace, GE Locations: Monday's

☆ Another typically boring part of the stock market is making exciting moves
▼ + stars: | 2024-09-10 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

While many investors have been distracted by the recent drop in leading technology shares, a traditionally overlooked part of the market is seeing a major boom: consumer staples. The S & P 500 consumer staples sector hit a record on Monday, putting it more than 8% higher over the past three months. On Friday, the Bureau of Labor Statistics said 142,000 jobs were created in August, well below the 161,000 expected by economists. Against this backdrop, we used the CNBC Pro Stock Screener tool to find consumer staple stocks that could outperform going forward. Kroger is expected to gain more than 12% going forward, based on analysts consensus price targets.

Persons: It's, Kroger, Bernstein, Douglas Harned Organizations: Tech, of Labor Statistics, CNBC, Stock, Kroger, Constellation Brands, Bunge Global, Modelo, Bunge, GE Aerospace, GE Locations: U.S

☆ Stocks making the biggest moves midday: Cleanspark, Vaxcyte, Unity Software and more
▼ + stars: | 2024-09-03 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Cleanspark released its mining update for August, which showed that it mined 478 bitcoins last month. Vaxcyte – Shares were recently up more than 36% and earlier hit a record high after the vaccine company reported positive results from the Phase 1/2 study for its 31-valent pneumococcal conjugate vaccine candidate. Semiconductor stocks – Shares of some of the biggest chipmakers fell during the first trading session of the month. Last week, shares fell 19% on news of its filing delay and Hindenburg's disclosed short position. United States Steel – Shares fell around 6% after Vice President Kamala Harris opposed the planned sale of U.S. Steel to Japan's Nippon Steel at a Labor Day rally for union members in Pittsburgh.

Persons: Cleanspark, Vaxcyte, Leerink, Morgan Stanley, Redfin, Charles Liang, Hindenburg's, Hindenburg, Kamala Harris, Harris, Lisa Kailai Han, Pia Singh, Jesse Pound, Fred Imbert, Michelle Fox Organizations: Leerink Partners, Boeing, Riley Securities, Semiconductor, KLA, Nvidia, Micron Technology, Taiwan Semiconductor Manufacturing, Broadcom, Hindenburg, Securities and Exchange, United States Steel, Steel, Japan's Nippon Steel, Labor, U.S Locations: Wells, U.S, Pittsburgh, American

JMP Securities upgraded Warby Parker to market outperform, calling for more than 40% upside. The financial firm upgraded shares of the streaming technology provider to buy from neutral. Analyst Michael Morris also established a 12-month price target of $75, which is approximately 21% higher than where shares closed on Thursday. Peloton stock is down 25% on the year. His price target of $20 implies upside of 44% from Thursday's close.

Persons: Warby Parker, Michael Morris, Morris, — Lisa Kailai Han, Wells, Wells Fargo, Edward Kelly, Kelly, BJ's, BJ, Lisa Kailai Han, Piper Sandler, Anna Andreeva, Andreeva, it's, Piper, Doug Anmuth, Anmuth, Nicholas Jones, Jones, Fred Imbert Organizations: CNBC, JMP Securities, JPMorgan, Guggenheim, BJ's, BJ's Wholesale, LT, Costco, CF Subs, Revenue, Warby, Warby Parker Inc Locations: ROKU, Chewy, Thursday's

☆ Stocks making the biggest moves premarket: Kellanova, Alphabet, Flutter and more
▼ + stars: | 2024-08-14 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Kellanova — Shares rose more than 6% in the premarket after the foodmaker agreed to be acquired by snackmaker Mars for $83.50 per share in cash. Flutter — The FanDuel parent popped 6.3% after posting better-than-expected revenue in the second quarter and raising its full-year guidance. Brinker International — Shares of the restaurant chain behind Chili's plunged 15% after Brinker International posted fiscal fourth-quarter earnings that disappointed and issued weaker-than-expected full-year earnings guidance. Adjusted earnings of $1.61 per share came in below the FactSet consensus estimate of $1.72 earnings per share. The Ohio-based company also raised its full-year guidance for earnings per share.

Persons: snackmaker Mars, Brinker, Chili's, Health —, Cardinal, StreetAccount, Brian Niccol, Wells Fargo, Cowen, —, Fred Imbert, Michelle Fox, Pia Singh, Sarah Min Organizations: Bloomberg News, Justice, Brinker International, Holdings —, Intel, Health, Deutsche Bank, Stifel Locations: British, Ohio, Wells

☆ Wall Street still loves the ‘Magnificent Seven’
▼ + stars: | 2024-08-14 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Don't get it twisted: Wall Street's love affair with the "Magnificent Seven" is alive and well. That's a greater gain than what strategists forecast for the S & P 500 as a whole — a gain of 11.9%. This dynamic is seen through the relative outperformance of the equal weighted S & P 500 versus its market cap weighted counterpart. .SPX RSP 1M mountain SPX vs RSP in past month Despite this rotation, Wall Street analysts still believe staying with megacap technology stocks are the better bet. Elsewhere on Wall Street this morning, Stifel upgraded Starbucks to buy from hold after naming Brian Niccol its new CEO.

Persons: Jessica Rabe, DataTrek, Rabe, Stifel, Brian Niccol Organizations: Research, Big Tech, RSP, Wall Street Locations: That's

Several analysts raised their ratings and price targets on Starbucks a day after news that Chipotle CEO would take over at the coffee chain. Starbucks shares rallied on the news, while Chipotle shares fell. He also lowered his price target on shares to $685 from $750, which implies just 6% upside from Monday's close. Chipotle shares pulled back of 7% comes as decelerating trends and a sector rotation already impacted Chipotle's multiple. Since Niccol took the position of CEO in 2018, Chipotle shares surged more than 770%.

Persons: Bernstein, Fatima Boolani, Boolani, — Hakyung Kim, Eli Lilly Eli Lilly's, Berenberg, Lilly, Kerry Holford, " Holford, Morgan Stanley, Keith Weiss, Weiss, Hakyung Kim, Brian Niccol's, Danilo Gargiulo, Gargiulo, Niccol, Chipotle, Laxman Narasimhan, Brian Niccol, Baird, David Tarantino, Fred Imbert Organizations: CNBC, Citi, Palo Alto, Palo Alto Networks, pharma, Intuit, Starbucks, Deutsche Bank, SBUX Locations: Tuesday's

☆ There are too many 'negative crosscurrents' for stocks right now, BCA says
▼ + stars: | 2024-08-13 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The list of negatives surrounding stocks is growing, according to BCA Research. Chief strategist Irene Tunkel warned in a note Monday that she doesn't "anticipate new market highs within the next three months — there are too many negative crosscurrents for equities." Others on the Street, including BTIG's Jonathan Krinsky and Bank of America's Stephen Suttmeier , have warned investors to remain vigilant in the near term. Elsewhere on Wall Street this morning, Wells Fargo initiated Rollins with an overweight rating, citing increased demand for pest control products and services. "Rollins' organic growth rates accelerated from mid-single to high-single digits during the pandemic and have remained at this elevated rate since," Wells Fargo said.

Persons: Irene Tunkel, Tunkel, Jonathan Krinsky, Bank of America's Stephen Suttmeier, Wells Fargo, Rollins Organizations: BCA Research, BCA, Bank of America's Locations: Atlanta

Meanwhile, Mizuho raised its price target on Palo Alto Networks ahead of the company's upcoming earnings release. But Grambling shaved $4 off his price target to $47, though that still implies 57.5% upside from Monday's close. Long kept his price target unchanged at $97, which reflects just 1.8% in upside over Monday's closing price. Analyst Laurent Yoon downgraded the media stock to market perform from outperform and shaved $2 off his price target to $8. Analyst Gregg Moskowitz raised his price target on the cybersecurity stock to $380 from $350, maintaining his outperform rating.

Persons: Bernstein, Mizuho, Rollins, Wells Fargo, Jason Haas, Haas, — Alex Harring, Thomas Palmer, Palmer, Morgan Stanley, DraftKings, Stephen Grambling, Grambling, Alex Harring, Tim Long, Long, Dell, Damian Karas, Karas, " Karas, Warner, Laurent Yoon, Yoon, Discovery's Turner, Gregg Moskowitz, Moskowitz, Fred Imbert Organizations: CNBC, Warner Bros, Palo Alto Networks, Hormel Foods, Citi, Hormel, Planters, Grambling, DraftKings, Barclays, Dell, Nasdaq, UBS, Discovery, NBA, Discovery's Turner Sports, Mizuho Locations: Wells Fargo, Monday's, Southern, Grambling, Palo Alto

☆ Stocks making the biggest moves premarket: Home Depot, Starbucks, Hormel Foods, Chipotle and more
▼ + stars: | 2024-08-13 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Starbucks , Chipotle Mexican Grill — Shares of the coffee chain popped more than 11% in the premarket after the company replaced its chief executive, Laxman Narasimhan, with Chipotle CEO Brian Niccol . Chipotle shares were down about 10%. The company reported earnings of 0.14 Swiss francs per share, or about $0.16, below the StreetAccount estimate of 0.16 Swiss francs. However, revenue of 567.7 million Swiss francs was better than the 562.1 million expected. Kodiak Gas Services — The natural gas services company dipped 2.7% after posting a year-over-year fall in earnings and a top-line miss.

Persons: Laxman Narasimhan, Brian Niccol, Riley, —, Jesse Pound, Fred Imbert Organizations: Home Depot, Entertainment Group, Kodiak Gas Services, Kodiak, Revenue, Citigroup, Riley, SEC, Securities and Exchange Commission Locations: StreetAccount

While keeping his outperform rating, Vijay Rakesh chopped $10 off his price target to $145. The Oreo maker should see above-average earnings growth, Jordan said, and the stock itself is a high-quality core holding. — Alex Harring 5:50 a.m.: UBS lays out earnings expectations for Nvidia UBS is remaining bullish on Nvidia heading into the artificial intelligence giant's earnings report. Analyst Timothy Arcuri reiterated his buy rating and $150 price target heading into earnings expected later this month. His price target of $23, up from $20, implies a gain of 28.3% over the next 12 months.

Persons: Piper Sandler, Vijay Rakesh, Rakesh, Alex Harring, Shaun Kelley, Kelley, — Alex Harring, Eli Lilly, Eli Lilly's, James Shin, Shin, Jefferies, Samad Samana, Samana, Goldman, Goldman Sachs, Mills, Leah Jordan, Jordan, Kraft Heinz, Timothy Arcuri, Arcuri, Patrick Moley, Morley, HOOD, Fred Imbert Organizations: CNBC, UBS, Mizuho, Micron, Seagate Technology, Western, Bank of America, Gaming, Consumer, Terre Haute, Kentucky Derby, Deutsche Bank, Par Technology, Jefferies, Conagra Brands, Hershey, Nvidia UBS, Nvidia Locations: Churchill, Northern, Northern Virginia, Kentucky, Robinhood

☆ Stocks making the biggest premarket moves: KeyCorp, Starbucks, JetBlue, Eli Lilly and more
▼ + stars: | 2024-08-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading: KeyCorp — Shares of the Cleveland-based regional bank jumped 18% after the announcement of a minority investment from The Bank of Nova Scotia. The deal gives Scotiabank 14.9% of KeyCorp's common stock for roughly $2.8 billion in cash. Eli Lilly — The pharma stock added 1.4% following an upgrade at Deutsche Bank to buy from hold. The bank cited Eli Lilly's recent earnings beat and called the stock a "low beta/high growth" unicorn. JetBlue Airways — Shares tumbled nearly 6% after the airline announced plans to offer $400 million of convertible senior notes due in 2029.

Persons: Eli Lilly, Eli Lilly's, Robinhood, Piper Sandler, Fred Imbert, Jesse Pound, Sarah Min, Pia Singh Organizations: The Bank of, Scotiabank, Starbucks, Street Journal, pharma, Deutsche Bank, JetBlue Airways, Hawaiian Electric Industries, Maui, Qualcomm, Wolfe Research, Apple Locations: Cleveland, The Bank of Nova Scotia

☆ The bottom is not in so take profits on any bounce, says BTIG
▼ + stars: | 2024-08-12 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

BTIG's chief market technician warned Sunday that, while the pullback seen early last week generated some "tactical buy signals," he thinks the "bulk of the bounce has likely run its course and [we] would use strength … to lighten exposure." However, the broad market index clawed back most of that decline by Friday, posting a weekly loss of just 0.04%. .SPX 1M mountain SPX 1-month chart "A final durable low is likely still ahead of us," Krinksy said. The big event this week will be the release of the consumer price index reading for July, due Wednesday. "We see LLY stock outperforming for its high growth outlook and low beta," the Deutsche analyst added, while calling the drugmaker a "low beta/high growth unicorn."

Persons: Jonathan Krinsky doesn't, Krinsky, Krinksy, Eric Johnston, Cantor Fitzgerald, Lori Calvasina, Scott Rubner, Goldman Sachs, Eli Lilly Organizations: JPMorgan, RBC Capital Markets, Deutsche Bank, Deutsche

☆ Goldman sees nothing 'sinister' ahead like past times market volatility reached these kinds of levels
▼ + stars: | 2024-08-09 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Global markets reached levels of turbulence rarely seen this week, but traders at Goldman Sachs are unfazed and don't believe it is a sign of a big danger lurking. The S & P 500 and Dow Jones Industrial Average on Monday suffered their biggest one-day declines since 2022. The market then roared back with the S & P 500 posting its biggest gain since 2022 on Thursday. After the late-week comeback, the S & P 500 is only down for the week by about half a percent. .VIX 5D bar Wild week for VIX Goldman traders expect gains going forward, but they see the path higher as a "choppy" one.

Persons: Goldman Sachs, Wall Street's, Goldman, VIX Goldman, Morgan Stanley, Eli Lilly, LLY Organizations: Goldman, Dow Jones, Monday, JPMorgan, pharma

☆ Tuesday's analyst calls: Taiwan Semiconductor a buying opportunity, CrowdStrike upgraded
▼ + stars: | 2024-08-06 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

He increased his price target by $25 to $575, which suggests shares can jump about 20.9% over the next year. Rollins upgraded the stock to neutral from sell and upped his price target from $1.25 to $3.15 per share, which implies roughly 21.6% potential upside. Analyst Rick Wise initiated coverage of GE Healthcare with a buy rating and $100 price target, which suggests 22.7% upside. Analyst Rob Owens upgraded the global cybersecurity company to overweight from neutral and lowered his price target by $20 to $290, which implies 30.6% upside. Its price target of 1,200 Taiwanese dollars implies upside of 36.4%.

Persons: Morgan Stanley, Piper Sandler, Rob Sanderson, Sanderson, — Pia Singh, Michael Rollins, Rollins, Lumen, Rick Wise, Wise, CrowdStrike, Rob Owens, Owens, pare, Price, Charlie Chan, Chan, Fred Imbert Organizations: CNBC, Taiwan Semiconductor, Meta, Citi, Lumen Technologies, GE Healthcare, Delta Air Lines, Microsoft Locations: U.S

☆ Markets rebounding after Monday’s carnage, but will it last?
▼ + stars: | 2024-08-06 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Markets around the world are getting some relief after the steep declines suffered Monday. Japan's Nikkei 225 surged more than 10% overnight — its biggest one-day gain since 2008 — clawing back some of its losses from the previous session. In the U.S., stock futures pointed to slight gains at the open. It might be an easier call if it was October, but we frankly struggle to think of many markets that have put in their corrective lows in early-August," Verrone wrote. The Cboe Volatility Index (VIX) , Wall Street's preferred fear gauge, remained elevated around 32, though it was down 16% in morning trade.

Persons: Morgan Stanley, Trump, Thomas Salopek, Chris Verrone, Verrone, Wall Street's Organizations: Japan's Nikkei, Dow Jones Industrial, Taiwan Semiconductor Locations: U.S, Coinbase

☆ Stocks making the biggest moves premarket: Palantir, Caterpillar, Yum China, CrowdStrike and more
▼ + stars: | 2024-08-06 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines before the bell: Palantir Technologies — The data analytics company rallied 11% after raising its full-year revenue forecast. Yum China — Shares surged 8% after the Shanghai-based operator behind Pizza Hut and Taco Bell posted second-quarter earnings that beat expectations. Adjusted earnings of 55 cents per share topped the 47 cents per share anticipated by analysts surveyed by LSEG. Earnings came in at 47 cents per share, topping the 31 cents expected from analysts polled by LSEG. CSX reported earnings of 49 cents per share in the second quarter, above the 48 cents anticipated by analysts in an LSEG survey.

Persons: Taco Bell, Piper Sandler, ZoomInfo, LSEG, Lucid, — CNBC's Michelle Fox, Fred Imbert, Jesse Pound Organizations: Technologies, Taco, LSEG, Revenue, Caterpillar, Nvidia, Micro Computer, Broadcom, Intel, CSX Locations: China, Shanghai

☆ As markets crater, key levels to watch on the S&P 500 as it nears correction
▼ + stars: | 2024-08-05 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Data released Friday showed 114,000 jobs were created last month, far below a Dow Jones estimate of 185,000. The S & P 500, accounting for Monday's expected losses, will be down around 9% from its recent high. She sees support emerging for the S & P 500 around the 5,000 level, or another 6.5% from here. If market conditions get very dire in the meantime, there is a chance the Federal Reserve could step in, investors hope. "The fed funds rate right now should be somewhere between 3.5% and 4%," he said .

Persons: Dow Jones, Katie Stockton, There's, Stockton, CNBC's, Jeremy Siegel, They've Organizations: Nikkei, Federal, Wharton Locations: Japan, U.S

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