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☆ Uber shares pop as company is slated to join S&P 500
▼ + stars: | 2023-12-04 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

Shares of Uber rose more than 5% on Monday after S&P Dow Jones Indices announced Friday that the ride-hailing company has been selected to join the S&P 500. Analysts at Oppenheimer reiterated their outperform rating on the stock and raised their price target to $75 per share from $65. They said Uber's ticket into the S&P 500 will likely help improve investors' sentiment about returns. Members of the index must have positive earnings in the most recent quarter and over the prior four quarters in total, according to S&P's rules. Uber also has a market cap of about $118 billion, which surpasses the S&P's criteria that companies must have an adjusted market cap of at least $14.5 billion.

Persons: Dara Khosrowshahi, Dow, Oppenheimer, Uber, — CNBC's Michael Bloom Organizations: Economic Cooperation, APEC, Dow Jones, Air Corp, CNBC PRO, &' $ Locations: Asia, San Francisco , California

☆ Uber gets the nod to join the S&P 500. Here's where analysts see the stock going next
▼ + stars: | 2023-12-04 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Analysts say Uber Technologies' forthcoming ticket into the S & P 500 is a positive catalyst for the stock moving forward. UBER YTD mountain Uber stock. Helfstein said in a report that Uber's entry into the S & P 500 could underpin future stock appreciation by bolstering investor sentiment. "Following the inclusion, we expect UBER to lean into growth and share buybacks, which should increase investor sentiment for growth/return in 2024," Helfstein wrote. "We believe that Uber will transition from 'nice to own' by investors to an 'allocation consideration' now that it is included in the S & P 500."

Persons: Dow, Oppenheimer, Jason Helfstein, Helfstein, William Blair, Ralph Schackart, James Cordwell, Cordwell, CNBC's Michael Bloom Organizations: Technologies, Dow Jones, Sealed Air Corp, –

☆ CNBC Daily Open: 'Premature' to talk about cutting rates?
▼ + stars: | 2023-12-04 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. S&P 500 soars to 2023 highThe S&P 500 rose 0.59% Friday and closed at a new high for 2023, extending a strong rally from November. Uber gets a spot in the S&P 500Uber will be added to the S&P 500 Index, replacing Sealed Air Corp. [PRO] China's version of Spotify is 'underappreciated,' Morgan Stanley saysTencent Music Entertainment "music value [is] still underappreciated," Morgan Stanley says even as the company is convincing more people in China to pay for music.

Persons: Powell, Jerome Powell, Uber, Morgan Stanley, Tencent Organizations: CNBC, Federal, Treasury, Nasdaq, Dow Jones, Alaska Airlines, Hawaiian Airlines, Sealed Air Corp, Spotify Locations: West Coast . Alaska, China, U.S

☆ Uber to become S&P 500 constituent -S&P Indexes
▼ + stars: | 2023-12-02 | by ( ) www.reuters.com time to read: 1 min

The Logo of taxi company Uber is seen on the roof of a private hire taxi in Liverpool, Britain, April 15, 2019. REUTERS/Phil Noble/File Photo Acquire Licensing RightsDec 1 (Reuters) - Ride-hailing service Uber Technologies will join the S&P 500 (.SPX) effective at the open of trading on Dec. 18, along with S&P MidCap 400 (.IDX) constituents Jabil Inc and Builders FirstSource Inc , S&P Dow Jones Indices announced late Friday. The stocks will replace Sealed Air Corp , Alaska Air Group Inc and SolarEdge Technologies Inc in the benchmark S&P 500, joining the S&P MidCap 400 index as of Monday. (This story has been refiled to correct the date to Dec. 18, not Monday, in paragraph 1)Reporting by Alden Bentley; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Phil Noble, Dow, Alden Bentley, Leslie Adler Organizations: REUTERS, Uber Technologies, Jabil Inc, Builders FirstSource Inc, Dow Jones Indices, Air Corp, Alaska Air Group Inc, SolarEdge Technologies Inc, Thomson Locations: Liverpool, Britain

Uber shares rose 5% in extended trading on Friday after the ride-hailing company was added to the S&P 500 Index, replacing Sealed Air Corp. A company's stock price often rises on news that it's joining the S&P 500 because fund managers who track the benchmark, which gets updated each quarter, have to acquire the shares. Uber shares debuted on the New York Stock Exchange in 2019, but the company was burning cash as it had to pay drivers enough money to stay competitive in a low-margin business. Uber has a market cap of about $118 billion, while the median market cap of companies in the S&P 500 is just over $31 billion. WATCH: Uber into the S&P 500

Persons: Dara Khosrowshahi, it's, Nelson, Chai, Uber, Lloyd Walmsley, You've Organizations: Uber, Sealed Air Corp, Companies, New York Stock Exchange, UBS Locations: Davos, Switzerland

☆ Here are Wednesday's biggest analyst calls: Nvidia, Netflix, Apple, Disney, Affirm, Dollar Tree, DraftKings & more
▼ + stars: | 2023-11-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

UBS reiterates Apple as neutral UBS said its survey checks show wait times for Apple's iPhone Pro have subsided. Wells Fargo initiates Matador Energy as overweight Wells said the energy company has a "strong track record of growth." Citi upgrades Vipshop to buy from neutral Citi upgraded the e-commerce company after its earnings report. Bank of America upgrades American Eagle to neutral from underperform Bank of America upgraded the stock ahead of earnings next week. Morgan Stanley reiterates DraftKings as overweight Morgan Stanley said it sees more upside for the stock after its investor day. "

Persons: Holley, Jefferies, Wells, Morgan Stanley downgrades Energizer, Morgan Stanley, Bracken Darrell, Matt Puckett, Investor Relations Allegra Perry, Redburn, RTX, Mizuho, AFRM, Cantor Fitzgerald downgrades, Myers, Cantor, We've, it's, DraftKings Organizations: Jefferies, UBS, Apple, Matador Energy, Citi, Bank of America, underperform Bank of America, Barclays, American, Bears, Netflix, Netflix Inc, Air Corp, Vertiv Holdings Co, Wells Fargo, Warner Music Group, JPMorgan, Corp, Investor Relations, Brands Conference, Raytheon, Canadian, TAM, Deutsche Bank, Disney, Deutsche, Nvidia, Partners Locations: China, Europe, Japan, AXP, Paris, CSIQ, Bristol, F4Q

Now is the time to buy shares of Sealed Air , according to UBS. He maintained his price target of $59 per share, suggesting a 28.8% rally for the stock from Tuesday's close price. Shares have tumbled 30% during the past 12 months, as the company struggled with supply chain issues, a post-pandemic demand reset and industrial destocking. Roughly three-fifths of analysts covering Sealed Air rate it a hold, Refinitiv data shows. The average price target on shares, however, implies 24.5% upside over the next 12 months.

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