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☆ UBS says renewable energy can meet 70% of electricity demand growth — these stocks benefit
▼ + stars: | 2024-06-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The growing electricity demand from corporate America, particularly Big Tech, and the retirement of coal plants across the U.S. are creating a major opportunity for renewable energy, according to UBS. UBS sees solar and wind supplying 40% and 30% of the power demand, respectively, while natural gas will meet the remaining 30%. At the same time, "there is a straight line of direct incremental demand and financial support for renewables as corporate electricity demand increases through their 100% clean energy or 100% renewable commitments," the analysts said. Overall, solar will grow to 12.5% of electricity generation by 2030, up from less than 6% in 2023, according to UBS estimates. "There is likely a substantial market opportunity to provide reliable electricity generation and direct infrastructure for data centers," the analysts said.

Persons: Jon Windham Organizations: Big Tech, UBS, U.S, Microsoft, Google, Amazon, Companies, Nike, Pepsi, Starbucks, Meta, Energy, Technologies Locations: America, U.S

☆ Regulators hit Citigroup, JPMorgan Chase, Goldman Sachs and Bank of America over living will plans
▼ + stars: | 2024-06-21 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Banking regulators on Friday disclosed that they found weaknesses in the resolution plans of four of the eight largest American lenders. The Federal Reserve and the Federal Deposit Insurance Corporation said that the so-called living wills — plans for unwinding huge institutions in the event of distress or failure — of Citigroup , JPMorgan Chase , Goldman Sachs and Bank of America filed in 2023 were inadequate. Regulators found fault with the way each of the banks planned to unwind their massive derivatives portfolios. The living wills are a key regulatory exercise mandated in the aftermath of the 2008 global financial crisis. "We are fully committed to addressing the issues identified by our regulators," New York-based Citigroup said in a statement.

Persons: Jane Fraser, JPMorgan Chase, Goldman Sachs, credibly, we've Organizations: Citigroup, Banking, Housing, Urban Affairs Committee, Nations Largest Banks, Federal Reserve, Federal Deposit Insurance Corporation, JPMorgan, Bank of America, Regulators, Wall, Goldman, Bank of, FDIC, Citi Locations: New York

☆ Nearly $109 million in deposits held for fintech Yotta’s customers vanished in Synapse collapse, bank says
▼ + stars: | 2024-06-21 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Ledgers of the failed fintech middleman Synapse show that nearly all the deposits held for customers of the banking app Yotta went missing weeks ago, according to one of the lenders involved. A network of eight banks held $109 million in deposits for Yotta customers as of April 11, Evolve Bank & Trust said in a bankruptcy court letter filed late Thursday. About one month later, the ledger showed just $1.4 million in Yotta funds held at one of the banks, Evolve said. Yotta CEO and co-founder Adam Moelis said in response to this article that Synapse has said in court filings that Evolve held nearly all Yotta customers deposits. "According to the Synapse trial balance report provided on May 17, there are $112 million of customer funds held at Evolve," Moelis said.

Persons: Adam Moelis, Moelis Organizations: Evolve Bank, Trust, Evolve, Synapse, Federal Reserve, Fed Locations: Memphis , Tennessee

☆ Interest rate differential is the biggest driver of Asian currency weakness: Deutsche Bank
▼ + stars: | 2024-06-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInterest rate differential is the biggest driver of Asian currency weakness: Deutsche BankSameer Goel of Deutsche Bank says that "dollar exceptionalism" and interest rate differentials are behind the devaluation of Asian currencies.

Persons: Bank Sameer Goel Organizations: Bank, Deutsche Bank

☆ Citi names one 'compelling emerging' theme to play real estate — and stocks and REITs to buy
▼ + stars: | 2024-06-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

Real estate companies around the world are eyeing one area right now: data centers, according to Citi. Citi noted the push toward data centers is being driven by major themes such as artificial intelligence and nearshoring. More industrial companies are looking to convert warehouses into data centers, Citi noted. Stocks to benefit The bank named three "direct beneficiaries" of rising data center demand: U.S.- listed real estate investment trust Digital Realty Trust , data center firm Equinix and Australia-listed NextDC . Paul Hanna | Bloomberg | Getty ImagesReal estate companies around the world are eyeing one area right now: data centers, according to Citi.

Persons: Stocks, There's, Keppel DC REIT, Paul Hanna Organizations: Citi, Digital Realty Trust, Digital Realty, Equinix, Nvidia, Keppel DC, Industrial Trust, Inc, Talavera de la Reina, Bloomberg, Getty Locations: datacenters, Equinix, Australia, Singapore, India, Talavera de, Spain

☆ Vanishing short-sellers have helped push stocks to record highs. But beware a sharp negative reversal, JPMorgan says.
▼ + stars: | 2024-06-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Short bets against funds that track major US indexes have declined to record lows, JPMorgan said. As the S&P 500 and Nasdaq have hit a streak of record highs this year, short interest in funds that track the indexes has dropped, the bank said. AdvertisementFirst, short bets are expensive to maintain when a stock or fund is climbing, a risk that's especially relevant in today's bull run. Second, regulators have added restraints to short selling, by mandating transparency and adding costs to short sellers that target equities, JPMorgan said. According to JPMorgan, short positions are also disappearing from individual stocks, with a clear decline in the top seven leading equities.

Persons: —, Nikolaos Panigirtzoglou, Jim Chanos Organizations: JPMorgan, Service, Nasdaq

☆ Alfa Bank: US-sanctioned Russian banking giant expands in China
▼ + stars: | 2024-06-20 | by ( Laura He | Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

Hong Kong/London CNN —Battered by Western sanctions, Russia’s largest privately owned bank is expanding its business in the world’s second-largest economy. That would make the lender the first private Russian bank to open full-service branches in the two major Chinese cities. The bank is part of Alfa Group, one of Russia’s largest financial and investment conglomerates, which was founded by Fridman. Alfa Bank made a loss of 117.1 billion rubles ($1.44 billion) in 2022, according to its annual report for that year. A year later, it seemed to bounce back, reporting profit of 120.9 billion rubles ($1.4 billion) for 2023.

Persons: Mikhail Fridman, hasn’t, Fridman Organizations: London CNN, Alfa Bank, CNN, Alfa Group, European, Moscow, Hong Kong Equity Investment Association Locations: China, Hong Kong, London, Russian, Beijing, Shanghai, Ukraine, United States, Russia, Italy, Western

☆ Switzerland makes second interest rate cut as major economies diverge on monetary policy easing
▼ + stars: | 2024-06-20 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

A view of the headquarters of the Swiss National Bank (SNB), before a press conference in Zurich, Switzerland, March 21, 2024. The Swiss National Bank on Thursday trimmed its key interest rate by 25 basis points to 1.25%, continuing cuts at a time when sentiment over monetary policy easing remains mixed among major economies. The figures assumes a SNB interest rate of 1.25% over the prediction period. Switzerland already has the second-lowest interest rate of the Group of Ten democracies by a wide margin, following Japan. It became the first major economy to cut interest rates back in late March and was earlier this month followed by the European Central Bank, and questions are now mounting over whether it will proceed with a third rate cut this year.

Persons: Kyle Chapman Organizations: Swiss National Bank, Reuters, Swiss, U.S ., Nomura, European Central Bank, Ballinger Group, U.S . Federal Reserve, Bank of England Locations: Zurich, Switzerland, Swiss, London, Japan

☆ 'Outsized winners': Morgan Stanley names global stocks to tap the 'upgrade supercycle' in a corner of AI
▼ + stars: | 2024-06-19 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

The market is underestimating one corner of artificial intelligence, according to Morgan Stanley. The innovation in the sector is set to drive AI chip capabilities, said Morgan Stanley. Morgan Stanley says it sees "outsized winners" in Japan, South Korea and the European Union. Taiwan TSMC : Morgan Stanley noted the Taiwanese semiconductor firm is a major provider of CoWoS technology, a type of packaging technology. Japan Morgan Stanley says it favors Disco and Advantest the most out of all the companies in Japan that are producing equipment for advanced packaging.

Persons: Morgan Stanley, That's, Amkor, TSMC, — CNBC's Michael Bloom Organizations: Engineers, European Union, United, Semiconductor Assembly, Test Services, Apple, ACM Research, SK Hynix, SK Hynix's Locations: Japan, South Korea, United States, Arizona, Taiwan

☆ India set for decade-high $2 billion bond inflows around JPMorgan index inclusion day
▼ + stars: | 2024-06-19 | by ( ) www.cnbc.com time to read: +2 min

More than $200 billion in assets track the JPMorgan Emerging Market Index in which India will eventually have a weight of 10% by March 2025, suggesting total passive inflows of at least $20 billion over the 10-month period. Since there is no precedent for these debt index-related inflows, bankers' estimates of the timing of flows are based on similar index adjustments in the equity markets. "Obviously, all this is a first and you can't be sure how things will be," the head of trading at a large foreign bank cautioned. In anticipation, large foreign banks could look at building short dollar/rupee positions to help manage inflows when they happen, an FX trader at a foreign bank said. As a senior banker at a large foreign bank said: "all the pipes that have been put in place might not work."

Organizations: JPMorgan, Reserve Bank of India, FX Locations: India

☆ Bank of England set to hold interest rates despite inflation hitting 2% target
▼ + stars: | 2024-06-19 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

But the print only served to further convince traders that an interest rate cut is not imminent. Money market pricing by 11 a.m. in London implied just a 5% probability of a trim of the Bank Rate during Thursday's BOE meeting — after recording stronger odds of such a step earlier in the week. Policymakers are equally focused on services inflation, key to understanding domestic price pressures in the country's services-oriented economy, which came in at 5.7% — higher than the 5.5% forecast by economists in a Reuters poll. "I think the most disturbing thing lots of economists like myself are looking at right now is what's happening in services inflation. And those numbers have been proving a good deal stickier than we would like," Sproule said, with the BOE targeting services inflation of around 3%.

Persons: BOE, —, We've, James Sproule, CNBC's, Sproule Organizations: Bank of England's, Bank of Locations: London, Bank of England

☆ Andy Sieg Could Be Citi's Next CEO If He Can Fix a Broken Wealth Business
▼ + stars: | 2024-06-17 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +23 min

Andy Sieg shocked the finance industry last spring when he left Merrill Wealth Management. AdvertisementBank of America analyst Ebrahim Poonawala recently argued that Citi should consider selling the wealth business if it cannot improve its profitability. AdvertisementWhile Sieg has told Citi managing directors to manage up less, a former Merrill executive who worked under him said Sieg was adept at it. Former Citi managing directorAdvertisementVahid's position will be taken by Kris Bitterly, the global head of investment products, in September. Mirroring tactics that supercharged Merrill, Sieg has changed Citi Wealth's compensation scheme to prioritize asset gathering, to the consternation of several employees.

Persons: Andy Sieg, Kevin Crain, Sieg, Crain, Jane Fraser, Fraser, Morgan Stanley, Merrill, Smith Barney, Ebrahim Poonawala, Wells, Mike Mayo, Brian Moynihan, Alex Wong, Moynihan, Fraser isn't, Mayo, anoint, Jamie Dimon, Jennifer Piepszak, Marianne Lake, Viswas Raghavan, Jane, He'd, George H, Bush, Bill Schreyer, Merrill Lynch, Dave Komansky, David Komansky, YOSHIKAZU TSUNO, Phil, Doug, Lord Abbett, David Poole, Citi's, there's, That's, Poole, Glenn Schorr, Jim O'Donnell, O'Donnell, Sieg's, Andy Sieg's, Naz Vahid, David Bailin, Bailin, Naz, Phil Waxelbaum, Vahid, Kris, Don Plaus, Keith Glenfield, Dawn Nordberg, Edward Jones, They're, Ernst & Young, he's Organizations: Merrill Wealth Management, Business, Citi, Bank of America, Morgan, BI, Merrill, Bank, Citigroup, JPMorgan, Harvard, Penn State, JPMorgan Advisors, United Arab, Citi . Citi, Work, Citi lifer, Former Citi, North, Citi Alliance, Citi Wealth, Bloomberg, Ernst &, Citizens Bank Locations: Sieg, Wells Fargo, Merrill, Bellefonte , Pennsylvania, Poole, Singapore, United Arab Emirates, Mexico, London, Aventura , Florida, Asia, Manhattan, North America

☆ Bank of America's clients are increasingly worried about a stock market peak. Here are 10 indicators to identify a top — and the best investing approach for when it unfolds.
▼ + stars: | 2024-06-17 | by ( Christine Ji | ) www.businessinsider.com time to read: +7 min

So that's what the bank did, listing 10 signals that they found to be most reliable, as well as the best investing approach for a market peak. The index has reached 110 within the six months preceding every market peak since July 1990, and in January 2024, it reached 111. ValuationElevated stock valuations are also telling of a market peak, but Bank of America's indicators relating to P/E ratios aren't currently triggered. A third macroeconomic indicator, Bank of America's Credit Stress Indicator (CSI), is not triggered. It often drops below 0.25 within six months of a market peak, but sits at 0.39.

Persons: —, Savita Subramanian, America quantifies Organizations: Service, Bank of America, Business, Conference, Bank of America Investor, Bank, America, The Conference Board, SSI, Wall Street, of America's, CSI Locations: today's

☆ The job market has 3 weak spots that could bring steeper Fed rate cuts, Goldman Sachs says
▼ + stars: | 2024-06-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Comparing today's job market to previous years when the Fed cut rates also shows some cause for concern. AdvertisementIf the job market continues to weaken, that makes a greater case for the Fed to cut rates, the bank said. Related storiesHere are three areas of labor market weakness that could mean more downside for interest rates:1. Employment is also falling among workers aged 16-24, the "most volatile" cohort of the job market, strategists added. Just 10%-15% of new labor market entrants are finding a job, according to Goldman's analysis of labor market data.

Persons: —, Goldman Sachs Organizations: Service, Federal Reserve, Business, Labor, Fed, Department of Labor, Goldman Sachs Global Investment Research, of Labor Statistics, Goldman, Industries, Labor Department Locations: ManpowerGroup

☆ Stocks are in a sweet spot but bears still fear a bubble is near bursting. Here's what 5 forecasters are saying about a potential crash.
▼ + stars: | 2024-06-16 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Here's what five forecasters have to say about the latest rally — and why they think the stock market is headed for a fall. In 2009, he wrote a book predicting a stock market crash and ensuing economic depression, which he said could last for 10 years or more. The research firm is predicting the S&P 500 could see a steep correction following a rally to 6,500. Yet, that could end up being an excellent opportunity for investors who are diversified in other areas of the market, Bernstein said. AdvertisementTypically, there are eight warning signs of a market bubble forming, and six of them have already flashed, the bank said.

Persons: Stocks, —, haven't, Harry Dent Stocks, Harry Dent, Dent, John Higgins, Higgins, John Hussman, Hussman, Richard Bernstein, Bernstein Organizations: Service, Nasdaq, Apple, Nvidia, Fox Business Network, Stocks, Capital Economics, John Hussman Elite, UBS

☆ Stocks making the biggest moves premarket: Adobe, Hasbro, GameStop and more
▼ + stars: | 2024-06-14 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

GameStop — The meme stock dipped 1.1% after Keith Gill, known as "Roaring Kitty," seemingly increased his ownership in GameStop. He appears to be holding 9.001 million GameStop shares and over $6 million in cash, according to a screenshot he posted to Reddit. JPMorgan upgraded shares to overweight from neutral on Friday, saying Adobe is poised for "smoother sailing ahead" after its strong quarterly print. Hasbro — Bank of America upgraded the toymaker to buy from neutral, sending shares 1.7% higher. On the other hand, the company saw $727 million in revenue, topping the $725 million estimate from analysts.

Persons: Keith Gill, Adobe, RH, LSEG, ZScaler, Alex Harring, Michelle Fox Theobald Organizations: GameStop, Adobe, JPMorgan, Hasbro — Bank of America, Wall, Boeing, New York Times, Federal Aviation Administration, Zero Trust Network Security

☆ Russia adopts Chinese yuan-to-ruble as benchmark exchange rate after US sanctions force a further move away from the dollar
▼ + stars: | 2024-06-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Read previewMoscow is adopting the Chinese yuan-to-ruble exchange rate as its benchmark currency pair after the US expanded sanctions against Russia on Wednesday, the country's central bank said on Thursday. The new US sanctions prompted the Moscow Exchange to end dollar and euro trading on Thursday, causing confusion — since the exchange rate is now opaque. Related storiesRussia's central bank appeared to seek to calm the market in a statement on Thursday. AdvertisementThe central bank added in its statement to Russia's RBC News that the yuan has become "the main currency" on the Moscow Exchange. It will "set the trajectory for other currency pairs" and be the guideline for market participants, the central bank said.

Persons: —, Vladimir Putin, Russia — Organizations: Service, Russia, Business, TASS, RBC, Moscow Exchange Locations: Moscow, Russia, Ukraine, Russia's

☆ Bank of Japan set to reduce JGB purchases, stands pat on interest rate
▼ + stars: | 2024-06-14 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The Bank of Japan is largely expected to hold interest rates steady at the end of its 2-day meeting ending June 14, 2024. The Bank of Japan kept its benchmark interest rate unchanged on Friday, but indicated it's considering the reduction of its purchase of Japanese government bonds. The central bank left short-term rates unchanged at between 0% to 0.1% at the end of its two-day policy meeting, as widely expected. But notably, the bank said in its statement it could reduce its purchases of Japanese government bonds after the next monetary policy meeting, scheduled for July 30 and 31. Purchases of JGBs, commercial paper and corporate bonds will also continue as decided in the March monetary policy meeting.

Persons: Nakamura Toyoaki, Toyoaki, JGB Organizations: Bank of Japan, The Bank of Japan, U.S ., Nikkei Locations: Tokyo

☆ 3 risks to global economic growth
▼ + stars: | 2024-06-13 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The World Bank on Tuesday raised its 2024 outlook for global economic growth to hold steady at 2.6%, an increase from its previous projection of 2.4% growth. “Four years after the upheavals caused by the pandemic, conflicts, inflation, and monetary tightening, it appears that global economic growth is steadying,” Indermit Gill, the World Bank’s chief economist, said in a release accompanying the report. Prospects for the world’s poorest economies are even more worrisome.”Here are three risks the World Bank sees. The World Bank said that spillover risk from the Russia-Ukraine war and Israel-Hamas war could curb global growth by pushing up oil prices and shipping costs. Trade tensions are already brewing between some of the world’s biggest global economic engines.

Persons: ” Indermit Gill, Jerome Powell, ”, Ayhan Kose, Danielle Wiener, Bronner, Joe Erlinger, aren’t, TikTok, John S, James L, Donald Trump, Joe Biden’s, Biden Organizations: CNN Business, Bell, New York CNN, Bank, World Bank, European Central Bank and Bank of Canada, US Federal Reserve, European Commission, EU, Bureau of Labor Statistics, McDonald’s, Pew Research Center, Knight Foundation, TikTok Locations: New York, Russia, Ukraine, Israel, India, Mexico, United States, France, United Kingdom, China, Beijing

☆ Broadcom is the next stock that could enter the trillion-dollar club, according to Bank of America
▼ + stars: | 2024-06-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Broadcom could be the next stock to reach a trillion-dollar market cap, Bank of America said. AdvertisementChip maker Broadcom looks like a contender to be the next member of the stock market's trillion-dollar club, Bank of America said Thursday. Bank of America thinks Broadcom has even greater potential even after its big quarterly report. Upside drivers will be semiconductor sales and Broadcom's VMWare, a software firm it acquired last year. AdvertisementIf Bank of America's price target pans out, that would place Broadcom among an exclusive group of stocks with trillion-dollar market capitalization.

Persons: BofA, — Organizations: Broadcom, Bank of America, Service, VMware, VMWare, Nvidia, Microsoft, Apple

☆ New US sanctions against Russia force end of dollar and euro trading on Moscow Exchange
▼ + stars: | 2024-06-13 | by ( ) edition.cnn.com time to read: +3 min

New US sanctions against Russia have caused an immediate suspension of trading in dollars and euros on the country’s leading financial marketplace, the Moscow Exchange. “Due to the introduction of restrictive measures by the United States against the Moscow Exchange Group, exchange trading and settlements of deliverable instruments in US dollars and euros are suspended,” the central bank said. The move means banks, companies and investors will no longer be able to trade either currency via a central exchange, which offers advantages such as better liquidity and oversight. The central bank said it would use data from those trades to set official exchange rates. The central bank reassured people these deposits were secure.

Persons: MOEX Organizations: Moscow Exchange, Moscow Exchange Group, “, Reuters, Moscow, Norvik Bank, Tsifra Bank, US Treasury, Investments, Forbes Russia, MOEX, Clearing Locations: Russia, Moscow, Russian, Washington, Ukraine, United States, Beijing, ”

☆ Expect broad policy continuity despite India election outcome, says Goldman Sachs
▼ + stars: | 2024-06-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect broad policy continuity despite India election outcome, says Goldman SachsSunil Koul of the investment bank says India's macroeconomic stability is still present.

Persons: Goldman Sachs Sunil Koul

☆ Trump proposes a policy that could make tipping more annoying for everyone
▼ + stars: | 2024-06-12 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewDuring a rally in Nevada on Sunday, former President Donald Trump proposed eliminating taxes on income earned from tips. It could also mean consumers — many already experiencing tipping fatigue as tipping culture pervades more industries — would be asked to tip in additional situations so workers could receive untaxed income. AdvertisementA spokesperson for the Trump campaign told BI that, if elected, Trump planned to ask Congress to eliminate taxes on tips.

Persons: —, Donald Trump, Trump, it's, Joe Biden, Martha Gimbel, Gimbel, Steven, David Kamin, Obama, Kamin, Bank Organizations: Service, Wall Street, Business, Social Security, Medicare, IRS, Biden, Yale, Steven Bank, UCLA School of Law, New York University, Bank Locations: Nevada

☆ There's a 'renaissance' coming for boring stocks. Here's how investors can position to take advantage, according to BofA.
▼ + stars: | 2024-06-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Bank of America predicts large-cap value stocks will start to outperform growth stocks. AdvertisementThe most boring area of the stock market is poised for a "renaissance" of outperformance, according to Bank of America. AdvertisementA hard landingAnother scenario in which value stocks should outperform is if the economy experiences a hard landing. That would likely lead to a sharp sell-off in growth-oriented stocks and the relative outperformance of value stocks. A world of structurally higher rates and inflation should bolster value stocks," Bank of America said.

Persons: —, Savita Subramanian, corporates, Banks, Ebrahim Poonawala, Consumer Staples, Staples, Subramanian Organizations: of America, Bank of America, Service, Equity, " Utilities, Energy, Banks, Consumer

☆ Stocks making the biggest moves midday: Southwest Airlines, GameStop, Advanced Micro Devices and more
▼ + stars: | 2024-06-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Southwest Airlines — The stock rose 9% after activist hedge fund Elliott Management amassed a $1.9 billion stake in Southwest Airlines. GameStop — The meme stock slipped nearly 15% in volatile trading after a roller-coaster week. Advanced Micro Devices — The chipmaker fell 3% after Morgan Stanley downgraded shares to equal weight from overweight, saying investors' expectations look elevated. ReNew Energy Global — Shares popped more than 7% after Morgan Stanley upped its price target, saying the narrative for the U.K.-based company remains strong. DraftKings — The sports entertainment stock gained 2% after Morgan Stanley renamed the company as a top pick.

Persons: Bob Jordan, Gary Kelly, Keith Gill, Huntington Bancshares, Huntington, Morgan Stanley, GoDaddy —, Dow, Robert Half, Jefferies, DraftKings, Yun Li, Alex Harring, Michelle Fox, Sarah Min, Pia Singh, Sean Conlon Organizations: Southwest Airlines, Management, Southwest, GameStop, KKR, CrowdStrike, GoDaddy — KKR, Dow Jones, Comerica, Apple, Energy, Jefferies Locations: 2H24, Illumina, Illinois

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