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☆ Never mind the 60/40 portfolio. There may be a case for a 50/30/20 allocation
▼ + stars: | 2024-10-30 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The case for a 50/30/20 portfolio is growing as investors seek to diversify into alternatives as a hedge against a stock and bond market that are each flashing cautionary signals. "And so, let me allocate a little bit, because instead of a 60/40, perhaps it's a [50/30/20]," she said, clarifying 50% to stocks, 30% to bonds, and the remaining 20% to alternatives. The case for alternatives The case for alternatives is two-fold. Still, investors say that the the asset class can help hedge against real risks ahead of stocks and bonds. One ETF investing in private equity asset managers is the Invesco Global Listed Private Equity ETF (PSP) .

Persons: Ayako Yoshioka, you've, Goldman Sachs, David Kostin, Corporates, Yoshioka, Paul Tudor Jones, Mark Malek, it's, —, Jesse Pound Organizations: Investors, Bank of America, Treasury, U.S, State Street, Apollo Global Management, Blackstone, Ares Management, KKR, Co, Carlyle Group, Equity ETF Locations: U.S, Siebert

☆ Betting on the election is the hottest new trend. But can prediction markets keep the momentum going?
▼ + stars: | 2024-10-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The big storyPresidential betsChris duMond; Chip Somodevilla/Getty Images; Jenny Chang-Rodriguez/BIWe're less than a week from election day, but one group can already claim victory: betting markets. Kalshi's legal victory in October over the CFTC to offer election betting paved the way for the trend. iStock; Rebecca Zisser/BIThe betting market's biggest tests might come after the election. Betting markets have Trump as a heavy favorite, whereas traditional polls indicate a tight race. AdvertisementShould Trump win in a landslide, it could strengthen the case for using betting markets as a key tool for election analysis.

Persons: —, Chris duMond, Chip Somodevilla, Jenny Chang, Rodriguez, Matthew Fox, Donald Trump, Polymarket, iStock, Rebecca Zisser, Nate Silver, Tesla, Zuckerberg, Citadel's, Justin Lubell, Lubell, Steve Schwarzman, Ken Griffin, Trump, Tyler Le, Harris, Sundar Pichai, Elon Musk, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi Organizations: Business, Service, Apple, CFTC, Trump, TikTok, Meta Connect, Meta, Bank of America, Blackstone, Republican, Amazon, AWS, Five Apple Intelligence, Google, The Washington Post, Street, Microsoft, Starbucks Locations: French, New York, London

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☆ Steve Schwarzman says Trump would be an 'efficient and effective' president this time — and Ken Griffin thinks he'll win
▼ + stars: | 2024-10-29 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Blackstone CEO Steve Schwarzman said he thinks Trump would make a better president the second time around. He's uncertain about the election result, though Citadel's Ken Griffin said he expects Trump to win. AdvertisementSteve Schwarzman said he thinks Donald Trump would be more "efficient and effective" if he wins next week's election. Citadel founder and CEO Ken Griffin, who was also on the panel, was more assured of the election's outcome. Citadel founder Ken Griffin expects Donald Trump to win the 2024 election.

Persons: Steve Schwarzman, Trump, Ken Griffin, —, Donald Trump, Schwarzman, Mike Blake, Griffin, Alan Murray Organizations: Saudi Arabia's Future Investment, Service, Blackstone, Future Investment Initiative, Saudi, Republican, Bloomberg, Citadel, White Locations: Davos

And if the worst were to happen and Bridger defaulted on the debt, Gallatin County wouldn’t be on the hook. The second item that wasn’t publicly discussed involved collateral damage to Gallatin County if Bridger’s bonds, known as conduits, went bad. Neither did former commissioner Skinner, whom NBC News called to talk about his vote on the Bridger bond. “Gallatin County should expect that Bridger will not cover any of the costs to unwind this transaction,” he said. At the 2020 meeting about the bond issue, Sean Bowen, a deputy county attorney, was asked whether the county was comfortable approving it.

Persons: Tim Sheehy, Bridger, Gallatin, ”, Joe Skinner, Sheehy vies, Sheehy, Donald Trump, Democratic Sen, Jon Tester, Blackstone, Louise Johns, Justin Marlowe, ” Marlowe, ” Sheehy, didn’t, Sam Davis, Bridger’s, Nathan Bilyeu, wasn’t, Marlowe, ‘, ’ ”, “, Zach Brown, ” Brown, Bilyeu, Skinner, Brown, it’s, Sean Bowen, Bowen, hadn’t Organizations: Bridger Aerospace Group, Navy SEAL, U.S . Senate, Democratic, New, Blackstone Group, Republican, Bridger Aerospace, Bloomberg, Getty, University of Chicago Harris School of Public Policy, Municipal Finance, National Interagency Fire Center, Pilatus, Bridger, wasn’t, University of Chicago, Poor’s, NBC Locations: Montana, it’s, Gallatin County, Bozeman, U.S, Washington, Gallatin, New York City, Bridger, Mont, Helena, Chicago, Bolingbrook, ”

☆ Insider Today: Blackstone's juggernaut
▼ + stars: | 2024-10-20 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

This post originally appeared in the Insider Today newsletter. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. The boom in private credit at Blackstone reflects a broader shift in how companies borrow.

Persons: —, Drew Houston, Jeff Bezos, Jon Gray, Blackstone, Jeenah, Jonathan Gray, Banks, Marc Rowan, Jamie Dimon, it's, Jenny Chang, Rodriguez, Barack Obama, Donald Trump, Joe Biden, BI's Alice Tecotzky, Tyler Le, Momo Takahashi, Goldman Sachs, Morgan Stanley, It's, rainmaker Jett Lara, Augustus Doricko, Doricko, Alex Diaz, he's Organizations: Business, Service, Blackstone, Blackstone Group, Reuters, JPMorgan, BI, Democratic, Apple, Investment, Goldman, Bank of America, Citigroup Locations: New York City, U.S, BI Northampton, Pennsylvania, Easton, El Segundo , California

☆ Taylor Swift is flexing her economic muscles again with the return of her tour and a new book
▼ + stars: | 2024-10-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, Taylor Swift has a new book coming out, but how she's doing it might create some bad blood with publishers . On Tuesday, Swift announced plans to self-publish "The Eras Tour Book," a behind-the-scenes look at her record-breaking tour that'll be released exclusively at Target on Black Friday. News of a Taylor Swift book should have sent a publisher jumping for joy at the potential revenue. AdvertisementBig stars like Swift are exactly who book publishers are banking on these days. But even so, Miami, New Orleans, and Indianapolis — her remaining US tour dates — won't mind Swift coming to town.

Persons: —, Meta, Taylor Swift, Chelsea Jia Feng, Taylor, Swift, Samantha Grindell, Madeline Berg, George Walker IV, we're, Natalie Ammari, it's, Goldman Sachs, Kalshi, Donald Trump, Trump, Blackstone, Jon Gray, Walid Berrazeg, It's, Lebaredian, Uber, Dara Khosrowshahi's, Tyler Le, Matt Garman, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Target, AP, Indianapolis, Super Bowl, UBS, Getty, Financial, Wall, Blackstone, Trump, Investors, Taiwan Semiconductor Manufacturing, TSMC, Optimus, Financial Times, Netflix, American Express Locations: Miami, Miami , New Orleans, Glendale , Arizona, Hsinchu, ASML, Texas, California, New York, London

☆ Investment banking has made a multibillion-dollar rebound, but it's too early to pop the Champagne
▼ + stars: | 2024-10-18 | by ( Hayley Cuccinello | Emmalyse Brownstein | ) www.businessinsider.com time to read: +7 min

Major banks like Goldman Sachs walloped Wall Street expectations thanks to dealmaking fees. Investment banking has made a comeback, and bigger bonuses are in the cards, too. The biggest banks on Wall Street reported a huge boost in dealmaking fees this quarter after a two-year slump. Investment bank revenue surged 30% on average at Goldman Sachs, JPMorgan, Bank of America, Citigroup, and Morgan Stanley, according to Wells Fargo analyst Mike Mayo. Morgan Stanley's investment bank revenue surged 56% year over year to $1.46 billion, beating Wall Street expectations.

Persons: Goldman Sachs, —, Morgan Stanley, Wells, Mike Mayo, Sharon Yeshaya, Morgan, Global's Nathan Stovall, corporates, Stovall, David Ellison's Skydance, JPMorgan's Jamie Dimon, David Solomon, Mayo, Cole Smead, There's, Jon Gray, anecdotally, Gray, David Stowell, Stowell, I'm, it's, Alan Johnson Organizations: Investment, Service, Wall, JPMorgan, Bank of America, Citigroup, Citi, Mars, Paramount, David Ellison's Skydance Media, Wall Street, Smead Capital Management, Blackstone, Kellogg School of Management, Northwestern University, underwriters, Johnson Associates Locations: Wells Fargo, Mayo

☆ Wall Street is trying to make AI search sexy
▼ + stars: | 2024-10-18 | by ( Bianca Chan | ) www.businessinsider.com time to read: +8 min

Finance firms and fintech startups are trying to use generative AI to improve search capabilities. Perfecting search, down the line, could lead to more automation and more complex generative AI tools. It has already onboarded some-25 Wall Street firms onto its generative AI platform. AdvertisementMeanwhile, two Stanford grads came together to build Mako, a generative AI associate for the private-equity industry. The search tool is the bank's second such generative AI tool, the first being a generative AI developer co-pilot that helps software engineers code more efficiently.

Persons: Goldman Sachs, Blackstone, —, Goldman hoovered, Neema Raphael, Raphael, it's, Morgan Stanley's, Keri Smith, Smith, Jeff McMillan, Gabe Stengel, Stanford grads, It's, Peter Anderson, Familiarizing, Goldman Organizations: Service, Bloomberg, Nasdaq, Goldman, Blackstone, Google, Bank of America's, Accenture, Stanford, Balyasny Asset Management Locations: Wall, OpenAI

☆ How Blackstone made 18,000 workers owners of their HVAC company
▼ + stars: | 2024-10-17 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +11 min

Earlier this year, Blackstone rolled out an ownership plan for employees of HVAC company Copeland. The newest rage in private equity seeks to flip that model on its head by offering employees equity on top of their regular salaries. Success in private equity is often evaluated by how much money a deal generates compared to the initial investment. Joe Baratta, global head of private equity at Blackstone BlackstoneAcross the industry, high interest rates have squeezed returns and exit opportunities. KKR's global cohead of private equity, Pete Stavros, also helped found the nonprofit Organizing Works to encourage the adoption of this model across the private equity industry and beyond.

Persons: Blackstone, Copeland, Here's, —, Ross Shuster, Shuster, Stuart Dalgleish, Joe Baratta, Dalgleish, we've, Copeland's Shuster, outsized, Pete Stavros, KKR's Stavros, NPR's, Ted, Stavros, Josh Ryan, Leonard Green, Axel Springer Organizations: Service, Business, Blackstone, Emerson Climate Technology, Blackstone ., BI, Human, Emerson Electric, Employees, Merlin Entertainment, Blackstone Blackstone, KKR, CHI, NPR, GeoStabilization, Leonard Green & Partners Locations: New York City, Manhattan

☆ Stocks making the biggest moves midday: Nvidia, Travelers, Blackstone, Uber and more
▼ + stars: | 2024-10-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Travelers' third-quarter earnings came in at $5.24 per share, topping the $3.55 a share expected from analysts polled by LSEG. Blackstone reported third-quarter earnings of $1.01 per share on revenue of $2.43 billion. CSX — Shares slipped 5.9% after the transportation company reported disappointing third-quarter results. Alcoa — The aluminum producer's stock shed more than 3% after the company reported third-quarter revenue of $2.90 billion, below the $2.97 billion LSEG consensus estimate. Synovus Financial — Shares popped 5% after the company reported better-than-expected adjusted earnings per share for the third quarter.

Persons: Uber, LSEG, Elevance, Blackstone, Equifax, Synovus, — CNBC's Sean Conlon, Hakyung Kim, Alex Harring, Pia Singh Organizations: Taiwan Semiconductor, Nvidia, Micron, Times, Expedia, —, LSEG, CSX, Nokia —, Alcoa, FactSet, Dynamics, Steel, Walgreens, Alliance

☆ Best Buy and Danaher are on the move Thursday — here's what is behind their different fates
▼ + stars: | 2024-10-17 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim said he has previously debated selling some Danaher shares around their current levels of $275 but now he has "cold feet." As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. 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: Jim Cramer, Jim, Sartorius, Stocks, Jim Cramer's Organizations: CNBC, Nasdaq, Dow Jones, Commerce Department, Nvidia, Broadcom, Club, CSX, Elevance, AMD Locations: Blackstone

☆ Inside Blackstone's growing 'credit juggernaut'
▼ + stars: | 2024-10-17 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +7 min

Private lending is now Blackstone's largest business by assets, up 22% since last year. Inside Blackstone's growing "credit juggernaut." By contrast, Blackstone's private-equity business manages $344.7 billion, and its real-estate investing arm, the firm's largest business at the start of the quarter, has $325.1 billion. The largest third-party lenderWhile Blackstone now claims to be the largest third-party credit provider, Apollo is the largest non-bank lender with $562 billion in private credit assets under management. Blackstone's private credit arm has generated 16.7% in returns over the last twelve months, though falling interest rates "put some pressure on absolute returns," Gray said.

Persons: Jon Gray, —, Blackstone, Jonathan Gray, CLOs, Gray, Steve Schwarzman, that's, We're, It's, Schwarzman Organizations: Service, Blackstone, Canada, Plan Investment Locations: New York, Asia, Pacific

☆ Jim Cramer says investors too worried about the Fed's next move are missing opportunities
▼ + stars: | 2024-10-17 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Thursday said some investors are missing market opportunities because they are too focused on what the Federal Reserve will do next when it comes to interest rates. "I'm not saying the stock market will never go down when the Fed's easing," he said. But Blackstone reported an impressive quarter, and the stock reached a new all-time high, up more than 6% by the close. He also referenced the turbulence this week in the semiconductor space — triggered by a bad quarter from Dutch chipmaker ASML on Tuesday — saying investors' Fed worries may have scared them out of expensive stocks. "Everyone who's obsessed with the Fed's next foray is basically investing with blinders on, and as a result, they're missing out on some of the greatest moves I've ever seen in my life," Cramer said.

Persons: CNBC's Jim Cramer, I'm, Jay Powell, Blackstone, ASML, Jensen, they're, I've, Cramer Organizations: Federal Reserve, Blackstone, Nvidia, Taiwan Semiconductor

☆ Blackstone President Jon Gray on Q3 results: We're seeing a healing of capital markets
▼ + stars: | 2024-10-17 | 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 EmailBlackstone President Jon Gray on Q3 results: We're seeing a healing of capital marketsBlackstone President and COO Jon Gray joins "Squawk Box' to discuss the company's quarterly earnings results, what to expect in Q4, state of the economy, the Fed's rate path outlook, impact of the 2024 election, state of the private credit market, and more.

Persons: Jon Gray Organizations: Blackstone

☆ The private credit run isn't over, says Nuveen. Here's how to invest
▼ + stars: | 2024-10-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

There's a lot to like about private credit these days, according to Nuveen. "The private credit run isn't over yet," Saira Malik, the asset manager's chief investment officer and head of equities and fixed income, wrote in a recent report. How to invest While private credit is largely seen as an instrument for institutional investors, individual investors have also been moving into the space. "Over the next 10 years, I think the story is going to be much more about the democratization of private credit." Meanwhile, A-shares of the Franklin BSP Private Credit Fund have a $2,500 minimum investment and a 8.96% annualized distribution rate, as of Oct. 15.

Persons: Saira Malik, Malik, Ken Kencel, Kencel, Credit's, Nuveen, Churchill's, BDC Organizations: Churchill Asset Management, Nuveen, Blackstone Private Credit Fund, Blackstone, Franklin BSP Private Credit Fund, Ares Capital Corp, Fund, Owl Capital Corporation, Lending Corp Locations: Franklin

Deep-pocketed Republicans donors also tried to close the gap by boosting a GOP super PAC working to seize the Senate majority. America PAC has taken on a critical supporting role for the Trump campaign, according to its independent expenditure filings, which cover some spending beyond September 30. Tuesday’s filings show other conservative billionaires also plowing extraordinary sums into the effort to reelect Trump. Another leading pro-Trump super PAC, Restoration PAC, also reported a huge haul from a single major donor. Meanwhile, the Congressional Leadership Fund – the main super PAC supporting House Republicans – hauled in more than $81 million in the third quarter.

Persons: –, Miriam Adelson, Elon Musk, Donald Trump’s, Adelson, – Musk, Richard Uihlein –, megadonors, Kamala Harris, Harris, Musk, Trump, reelect Trump, Sheldon, Uihlein, Ike Perlmutter, Laura, Biden, Michael Bloomberg, Reid Hoffman, Steve Mnuchin, Dana White, White, Chuck Schumer, JB Pritzker, Eric Schmidt, Reed Hastings, Ken Griffin, Elliott, Paul Singer, Stephen Schwarzman, Republicans –, Timothy Mellon, Montana Sen, Jon Tester, Ohio Sen, Sherrod Brown, Tim Sheehy, Brown, Bernie Moreno, Eric Hovde, Democratic Sen, Tammy Baldwin, Baldwin, Colin Allred, Sen, Ted Cruz, Cruz, Nathan L, Democrat Adam Gray, Michelle Steel, Democrat Eugene Vindman, Trump’s, Vindman, Mary Peltola, CNN’s Kristen Holmes Organizations: CNN, Trump, PAC, Federal, Commission, Adelson, Democratic, Republican, GOP, White, House . America PAC, America PAC, Preserve, America, Restoration PAC, FF PAC, FF, New York, LinkedIn, Republican National Convention, Fund, Illinois Gov, Netflix, Citadel, Elliott Management, Blackstone Group, Congressional, Republicans, The New York Times, Democrats, West, Senate, Ohio, – Rep, Democrat, Alaska Rep Locations: Pennsylvania, California, New York, Preserve America, Michigan, Wisconsin, Pennsylvania , Wisconsin, Georgia, Lago, Florida, Montana, Michigan , Pennsylvania, Arizona, Maryland, Republican, Texas, Virginia’s, District, Alaska

☆ Stock futures are little changed after Dow closes at another record high: Live updates
▼ + stars: | 2024-10-16 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

NEW YORK, NEW YORK - OCTOBER 16: Traders and others work on the New York Stock Exchange (NYSE) floor in New York City. U.S. stock futures hovered near the flatline Wednesday evening after the Dow Jones Industrial Average closed at a record for the second time this week. Futures tied to the S&P 500 and Nasdaq 100 futures fell around 0.1% each. The S&P 500 rose 0.47%, while the tech-heavy Nasdaq Composite added 0.28%. On the economic front, traders will be looking toward weekly jobless claims and September's retail sales due on Thursday.

Persons: Adam Crisafulli, It's, Morgan Stanley, Blackstone Organizations: NEW, Traders, New York Stock Exchange, Dow Jones, Dow, Nasdaq, Alcoa, Transport, CSX, Vital Knowledge, Travelers, Elevance, T Bank, Truist Locations: New York City . U.S

☆ Earnings will drive the stock market in the week ahead. That's a good thing
▼ + stars: | 2024-10-13 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

In Friday's look at wholesale inflation, the producer price index was unchanged month over month . We'll hear from Club holdings Morgan Stanley and Abbott Laboratories on Wednesday morning. Morgan Stanley: The ongoing recovery in investment banking will be front and center. That was a key theme in the second quarter , and the hope is that the July-to-September period showed a continuation of the trend for Morgan Stanley. Morgan Stanley has been strong lately, though.

Persons: Jim Cramer, Jim, Gamble, — Wells, industrials, Goldman Sachs, ASML, Morgan Stanley, Morgan Stanley's, Louis, Abbott, Charles Schwab, Johnson, JB Hunt, Kinder Morgan, Huntington, Jim Cramer's, Charly Triballeau Organizations: Club, Dow Jones, Nasdaq, Procter, Federal, JPMorgan, —, Tech, . Utilities, UnitedHealth, Taiwan Semiconductor Manufacturing, Abbott Laboratories, Abbott Labs, NEC, Abbott, Food and Drug Administration, Walgreens Boots Alliance, Citigroup, Bank of America, United Airlines, Interactive, US Bancorp, Citizens, Alcoa, PPG Industries, CSX, Truist, Netflix, Crown Holdings, American Express, Gamble, CNBC, New York Stock Exchange, Financial, Afp, Getty Locations: Wells, U.S, Wells Fargo, St, Taiwan, New York City

☆ Stock market next week: Earnings season ramps up with more big bank results
▼ + stars: | 2024-10-11 | by ( Sarah Min | Nicole Teo | ) www.cnbc.com time to read: +6 min

And, with earnings season set to ramp up, that could mean further gains. Already, on Friday, JPMorgan Chase and Wells Fargo were rallying in midday trading after reporting their latest results this week, an auspicious start to the earnings season. A strong earnings season Earnings results next week will be dominated by reports from the banking sector, giving investors further insight into the health of the capital markets as well as the consumer. Several regional banks are also set to announce how they did in the most recent quarter as well, such as PNC Financial Services Group and Citizens Financial Group. Even so, investors are optimistic about the outlook for corporate profits this earnings season, especially with expectations having come down.

Persons: what's, Oppenheimer, Wells Fargo, Charlie Ashley, Ashley, Goldman Sachs, Morgan Stanley, Ross Mayfield, Catalyst's Ashley, Baird's Mayfield, Mayfield, Charles Schwab, Huntington Bancshares Organizations: Dow Jones, Tech, Nvidia, JPMorgan Chase, Traders, Federal Reserve, Catalyst Funds, Nasdaq, Ashley . Bank of America, PNC Financial Services Group, Citizens Financial Group, Private Wealth Management, Treasury, Columbus, Columbus Day, Index, United Airlines, Hunt Transport Services, Citigroup, State, Goldman Sachs Group, Walgreens Boots Alliance, Johnson, Bank of America, PNC Financial Services, UnitedHealth, Price, PPG Industries, Steel Dynamics, Discover Financial Services, CSX, Abbott Laboratories, U.S . Bancorp, Financial Group, Philadelphia Fed, Retail, Manufacturing, Netflix, T Bank Corp, Elevance, Truist, Blackstone, Housing, Schlumberger, Procter, Gamble, Fifth Third Bancorp, Regions Financial, American Express Locations: Ashley, bullish, Prologis, NAHB

☆ Princess Kate makes first public appearance since ending cancer treatment
▼ + stars: | 2024-10-10 | by ( Maya Blackstone | ) edition.cnn.com time to read: 1 min

☆ Stocks making the biggest moves premarket: Boeing, Alphabet, Blackstone, GitLab and more
▼ + stars: | 2024-10-09 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Reddit — Shares rose more than 2% after Jefferies initiated research coverage with a buy rating and a Sreet-high price target. Rio Tinto , Arcadium Lithium — The two minerals stocks moved in opposite directions after the companies announced a deal for Rio Tinto to buy Arcadium for $5.85 per share. Shares of Rio Tinto dipped 1.2%, while shares of Arcadium surged 30%. GitLab — Shares rose 5% after Morgan Stanley initiated research coverage of the software stock with an overweight rating . Chewy — Shares rose nearly 2% after TD Cowen initiated research coverage of the pet products retailer with a buy rating.

Persons: Jefferies, Blackstone — Piper Sandler, Morgan Stanley, Sanjit Singh, Nio, TD Cowen, — CNBC's Sean Conlon, Lisa Han, Alex Harring, Jesse Pound, Hakyung Kim Organizations: Boeing, Department, Rio Tinto, Federal, Cruise, Citigroup, Citi Locations: Rio, Arcadium, Nio —

☆ Spirit Airlines passengers say crop tops got them kicked off plane
▼ + stars: | 2024-10-09 | by ( Maya Blackstone | ) edition.cnn.com time to read: 1 min

☆ Calls of the Day: Royal Caribbean, General Motors, Blackstone, Valero, Lowe's and the IAK
▼ + stars: | 2024-10-09 | by ( ) 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 EmailCalls of the Day: Royal Caribbean, General Motors, Blackstone, Valero, Lowe's and the IAKThe Investment Committee debate the latest Calls Of The Day.

Organizations: Royal, General Motors, Blackstone, Valero, Lowe's Locations: Royal Caribbean

Meanwhile, Jefferies began coverage of Reddit with a buy rating and a price target of $90. Champine said the Federal Reserve lowering interest rates was a driving force for the price target changes. Analyst William Kerr initiated coverage of the pet ecommerce retailer with a buy rating and $38 price target. RBLX YTD mountain RBLX in 2024 — Alex Harring 5:50 a.m.: Citi says UPS is a buy Buy the dip on UPS shares, according to Citi. Analyst Ariel Rosa initiated the delivery giant with a buy rating and a price target of $162.

Persons: Jefferies, Laura Champine, Champine, Helene, Milton, Lowe's, — Alex Harring, Piper Sandler downgrades Blackstone Piper Sandler, Crispin Love, Love, Blackstone, Morgan Stanley, Sanjit Singh, Singh, Alex Harring, TD Cowen, William Kerr, Kerr, Benjamin Soff, Soff, Ken Gawrelski, Gawrelski, Roblox, Ariel Rosa, Rosa, — Fred Imbert, John Colantuoni, Colantuoni, EBITDA Organizations: CNBC, Wednesday, Citi, UPS, Capital, Federal Reserve, Blackstone, Industry, Deutsche Bank, New York Times, Amazon Logistics, Walmart Locations: Wells, China, Tuesday's

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