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☆ Stocks making the biggest moves midday: SoFi, Caterpillar, SiriusXM, Boeing and more
▼ + stars: | 2024-10-14 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: SoFi Technologies — Shares of the online personal finance company jumped 9.8% after SoFi announced a $2 billion agreement with Fortress Investment Group to grow its loan platform business. Crypto stocks — Stocks tied to cryptocurrencies surged as bitcoin gained more than 5% to top $66,000. Ibotta — Shares advanced 5.5% after Goldman Sachs upgraded Ibotta, a mobile platform that offers cash-back rewards, to buy from neutral. Flutter Entertainment — The online gambling stock rose 4% after Wells Fargo upgraded shares to overweight from equal weight, urging investors to buy the recent dip. Caterpillar — The industrial stock fell 1.7% after Morgan Stanley downgraded shares to underweight from equal weight.

Persons: SoFi, Warren Buffett's Berkshire Hathaway, Stocks, cryptocurrencies, bitcoin, AppLovin, Goldman Sachs, Goldman, Wells, Morgan Stanley, Eli Lilly's, —, Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: Fortress Investment Group, Sirius XM Holdings, Berkshire, Sirius, Mara Holdings, Boeing, Walmart, of America, Caterpillar, U.S . Food, Drug Administration Locations: U.S

☆ Earnings playbook: The first big week of the season includes reports from Netflix and big banks
▼ + stars: | 2024-10-13 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

Last quarter: Bank of America jumped after saying a rebound in net interest income was coming . What history shows: Bank of America shares have risen in 10 of the last 12 earnings days, according to Bespoke Investment Group. What history shows: Netflix tends to struggle on earnings days, averaging a slight decline, according to Bespoke. Shares have also fallen in two of the last three earnings days, including a 9.1% drop in April. What history shows: Bespoke data shows Procter & Gamble beats earnings expectations 85% of the time.

Persons: Goldman Sachs, Wells, Hugh Son, Goldman, Leslie Josephs, Wednesday Morgan Stanley, Morgan Stanley, Bryan Kraft, Kraft, Procter & Gamble, Procter, Lauren Lieberman Organizations: Netflix, Procter, Gamble, Big, Bank of America, JPMorgan Chase, BlackRock, Tuesday Bank of America, CNBC, Investment, LSEG, JPMorgan, United Airlines, U.S, Delta, Wednesday, Deutsche Bank, Procter &, Barclays Locations: Wells Fargo, U.S, China

☆ Stanley cups are 'on the way out' along with skinny jeans, wealthy teens say
▼ + stars: | 2024-10-13 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

At the same time, the brand's popularity may have peaked and is "on the way out," teens said in the firm's annual survey. While Stanley's multi-colored insulated cups still have considerable caché, upper-income teens told Piper Sander that the products could soon see the same fate as skinny jeans. Upper-income male teens surveyed ranked Stanley cups as their fifth-most fashion trend on the way out. Keith told Business Insider the survey's fashion trend question is open-ended, meaning that respondents are not prompted by a list of options. "They really kind of struck gold with these larger, thick cups, with the handle and a straw," Keith told BI.

Persons: Piper Sandler, Stanley, —, Piper Sander, Peter Keith, Alexia Morgan, Keith, doesn't, weren't, Piper Sandler's, Morgan, hasn't, Dominick Organizations: Service, CNBC, PMI

☆ Elon Musk's net worth fell $15 billion after Tesla's robotaxi event
▼ + stars: | 2024-10-13 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

Tesla stock fell more than 9% on Friday, reducing Elon Musk's net worth. Though his net worth dropped by about $15 billion, Musk remains the world's richest man. The company's stock tumbled in the aftermath — and with it, CEO Elon Musk's net worth. According to the Bloomberg Billionaires Index, updated after the close of trading in New York, Musk's net worth fell by $15 billion. The company's stock value had continued its downward trend through early August then rebounded in September — bringing Musk's net worth to more than that of McDonald's and Pepsi.

Persons: Tesla, —, Elon, Forbes, Musk, Tesla's, Morgan Stanley, Adam Jonas, Dan Ives Organizations: Elon, Service, Wall Street, Bloomberg, Pepsi, Business, Wall Locations: Los Angeles, Tesla, New York

☆ 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

☆ A Professor Made Porn. His Firing May Shape the Future of Free Speech
▼ + stars: | 2024-10-13 | by ( Hallie Lieberman | ) www.businessinsider.com time to read: +13 min

Can a tenured professor be fired for making porn? "We don't want to be known as Porn U," said Betsy Morgan, who replaced Gow as interim chancellor. Leitner presented Gow's videos as part of his broader advocacy of nonmonogamy. The regents, Gow said, "are willing to fire me for the short-term goodwill they get with the far right." He puts Gow's online porn in the same category as "posting inflammatory personal, political opinions on social media."

Persons: Joe Gow, Carmen Wilson, —, Gow, Wilson, It's, Zach Greenberg, Betsy Morgan, Morgan, Tom Ginsburg, He's, Gow's, Wade Harrison, Roe, Donald Downs, Simone Lueck, undergrads, Harrison, Jay Hart —, Tom, Jerry Bui, Bui, unswayed, Mark Leitner, Leitner, Banner, Keith Whittington Harrison, Dr, Aweek, he's, Keith Whittington, they've, McCarthy Organizations: University of Wisconsin, UW, La, Foundation, Rights, Forum, Free, University of Chicago, Diego, Republican, Academia, Yale, Freedom Alliance, University Locations: La Crosse, Mississippi, America, Wisconsin, Onalaska, San Diego, foreplay, Madison, Milwaukee, Yale

Below, we've put together everything you need to know about where to watch the Lynx vs. Liberty, including tip-off time, channel, and streaming options. What channel is Lynx vs. Liberty on? Game 2 of the Minnesota Lynx vs. New York Liberty Finals will be broadcast on ABC in the US. Where to watch Lynx vs. Liberty in the USYou can live stream the game through various streaming services, including Sling TV, DirecTV Stream, or Fubo. Check price at ExpressVPNHow to watch Lynx vs. Liberty with a VPNSign up for a VPN if you don't already have one.

Persons: we've, Breanna Stewart, Stewart, Jonquel Jones, Sabrina Ionescu, Courtney Williams, Alanna Smith, Napheesa Collier, Fubo, ExpressVPN Organizations: Business, WNBA, ., New York Liberty, Minnesota Lynx, Barclays Center, Lynx, Liberty, ESPN, . New York Liberty, ABC, ESPN3, Sling, DirecTV, DirecTV Stream Locations: Brooklyn

☆ Stock futures are flat in overnight trading with key corporate earnings on deck: Live updates
▼ + stars: | 2024-10-13 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Stock futures were little changed in overnight trading Sunday as investors waited to assess whether the next batch of key corporate earnings could power the market to more records. S&P 500 index futures were flat, while Nasdaq-100 futures dipped 0.1%. The S&P 500 closed above 5,800 for the first time, while the blue-chip Dow also reached an all-time high. The S&P 500 has gained nearly 22% this year, excluding reinvested dividends. Treasury yields have risen lately too, with the benchmark 10-year note yield, used to calculate everything from mortgages to auto loans, topping 4.1% last week.

Persons: Wells Fargo, Dow, Goldman Sachs, Johnson, Morgan Stanley, Adam Crisafulli Organizations: New York Stock Exchange, Stock, Dow Jones Industrial, Nasdaq, Columbus, JPMorgan Chase, Bank of America, Johnson, United Airlines, Walgreens Boots Alliance, Netflix, Procter, Gamble, Federal, Vital, Treasury Locations: New York City

☆ What happened Friday hasn't happened in ages. It bodes well for earnings
▼ + stars: | 2024-10-13 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

Getting ready for the "two problematic stories," Wells Fargo and JPMorgan , which came later in the morning, took some real digging. ET – Wells Fargo shares turned and started inching up. With what you saw in Wells Fargo and JP Morgan on Friday. Think like this: When the psychology of the market changes, people don't want to bang out of Wells Fargo, they want to get in. But there is no doubt that Wells Fargo at 11 times forward earnings now seems a little silly given that the background is so positive.

Persons: Larry Fink, Wells, Wells Fargo, Charlie Scharf, Jamie Dimon, Jeff Marks, JP Morgan, Scharf, It's, Warren Buffett, Morgan Stanley, Eli Lilly, haven't, Jim Cramer's, Jim Cramer, Jim, Squawk, Virginia Sherwood Organizations: BlackRock, JPMorgan, Wall, Club, Wells Fargo, Elon, SpaceX, Federal, New York Stock Exchange, Fed, Bank of America, Boston, Walmart, Costco, Semiconductors, Enterprise, JFrog, Microsoft, –, Dow, Jim Cramer's Charitable, CNBC Locations: Wells Fargo, NII, U.S

☆ UK leader Keir Starmer is marking 100 days in office. It has been a rocky ride
▼ + stars: | 2024-10-13 | by ( ) www.cnbc.com time to read: +5 min

Britain's Prime Minister Keir Starmer gives a media interview while attending the 79th United Nations General Assembly at the United Nations Headquarters in New York, U.S. September 25, 2024. British Prime Minister Keir Starmer marks 100 days in office Saturday with little cause for celebration. Starmer has traveled to Washington, the United Nations and European capitals as he seeks to show that " Britain is back " after years of inward-looking wrangling over Brexit. Reeves has ruled out increasing income tax, sales tax or corporation tax, but also says there will be no "return to austerity" — a hard circle to square. "I don't think people have that much of a sense of what Keir Starmer or indeed Labour is about.

Persons: Keir Starmer, freebies, Tim Bale, Starmer, Taylor Swift, Sue Gray, Morgan McSweeney, Gray, —, McSweeney, Anand Menon, Rachel Reeves, Reeves, Downing, It's, Bale, it's Organizations: Britain's, 79th United Nations General Assembly, United Nations Headquarters, British, Labour Party, Labour, Conservative Party, Queen Mary University of London, Conservative, Health Service, United Nations, Conservatives, Government, Downing, Downing St, BBC Locations: New York, U.S, Rwanda, Washington, United Kingdom, Ukraine, England, Northern Ireland

☆ A 33-year-old self-made millionaire shares the 2-part 'financial freedom road map' that helped him build wealth
▼ + stars: | 2024-10-12 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

Erik Smolinski shares the 'road map' he used to build wealth and achieve financial independence. He also provides steps anyone can take to build wealth, starting with opening a brokerage account. Part 1: Understand 3 'wealth levers'According to Smolinski, there are three "wealth levers" that you have to use in order to build wealth. Next, link your bank account to your brokerage account and initiate your first transfer. Over time, you'll learn to live without the chunk of money you're setting aside for your future.

Persons: Erik Smolinski, —, Smolinski, that's, you've, I'm Organizations: Service, Marine Corps

Learn moreIt's a can't-miss Big Ten showdown with tonight's Ohio State and Oregon game. We've compiled everything you need to know about how to watch Ohio State vs. Oregon, including where to live stream the epic match-up. The Ohio State Buckeyes vs. Oregon Ducks rivalry is alive and well, although this is host Oregon's first year playing in the Big Ten conference. What channel is Ohio State vs. Oregon on? The Ohio State vs. Oregon game will air on NBC in the US.

Persons: we'll, That's, Fubo, ExpressVPN Organizations: Business, tonight's Ohio, Ohio, Ohio State Buckeyes, . Oregon Ducks, Big, Oregon, Ohio State, NBC, . Oregon, DirecTV, Peacock, DirecTV Stream Locations: tonight's Ohio State, Oregon, . Oregon, Ohio State, .

☆ Guardians grand slam their way to a Game 5 victory over Tigers, head to ALCS: Takeaways
▼ + stars: | 2024-10-12 | by ( Zack Meisel | Cody Stavenhagen | ) www.nytimes.com time to read: +5 min

CLEVELAND — Lane Thomas started the ALDS with a three-run homer to the left-field bleachers at Progressive Field in Game 1. Designated hitter David Fry kept Cleveland’s postseason hopes flickering with a two-run shot in the seventh inning of Game 4 at Comerica Park. "Lane Thomas." GO DEEPER Guardians' Lane Thomas hits grand slam off Tarik Skubal in Game 5If the Tigers had to lose, they can take some solace in losing like this. (Top photo of Lane Thomas: Jason Miller / Getty Images)

Persons: Lane Thomas, Thomas, Tarik Skubal, David Fry, Comerica Park . Thomas, José, Skubal, ane, rade G uardians, rade, ike, G, arik, ake, ince, hird, arik S kubal, ade, mith, rik S abrowski, addis, homas: Organizations: Progressive, Tigers, Yankee, American League, AL, Guardians, Comerica Park ., ashington, ust Locations: Ramírez

☆ 11 people hospitalized in Pennsylvania after eating ‘toxic mushrooms’
▼ + stars: | 2024-10-12 | by ( Jordan D. Brown | Nic F. Anderson | ) edition.cnn.com time to read: +2 min

CNN —Eleven members of an Amish family – including a 1-year-old – were hospitalized in Pennsylvania Friday night after ingesting wild, “toxic mushrooms,” local authorities said. “It was wild mushrooms, but the hospital would have to confirm the type,” Southern York County emergency medical services Chief Laura Taylor told CNN. The fire department and EMS units went to the family Friday night after being told the 11 had “ingested toxic mushrooms and were all ill,” the fire department said in a post on Facebook. The family was transported to WellSpan York Hospital, Taylor told CNN. The Pennsylvania State Police and York County Sheriff’s Office did not immediately respond for comment.

Persons: –, “, ”, Gregory Fantom, Fantom, Laura Taylor, Taylor Organizations: CNN, Delta, Cardiff Volunteer Fire Company, Facebook, York, WHP, Pennsylvania State Police, National Library of Medicine Locations: Pennsylvania, York, Maryland, Harrisburg, United States

☆ These 10 watches make the smartest investment pieces
▼ + stars: | 2024-10-12 | by ( Madeline Berg | ) www.businessinsider.com time to read: +4 min

The secondary watch market has declined over the past two years. But watches from the Big Three brands — Rolex, Patek Phillipe, and Audemars Piguet — are still reselling for higher than their retail prices. Advertisement2024 has not been kind to the watch market. Meanwhile, inventory is flooding the resale market as those who purchased watches as an investment when the market was hot rush to cash out. Prices on the secondary market are dictated by supply and demand.

Persons: Patek Phillipe, —, Morgan Stanley, Patek Philippe, Charles Tian, Audemars, Paul Altieri, Tian, Rüstmann, Chrono24 Organizations: Big, Rolex, Service Locations: WatchCharts

☆ Ina Garten left a White House job to pursue a cooking career—how the ‘crazy risk’ turned her into a millionaire
▼ + stars: | 2024-10-12 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

In her 20s, Garten worked in the White House for Presidents Gerald Ford and Jimmy Carter writing policies for the nuclear energy budget. Garten had no idea that her next chapter was waiting 300 miles away — in a tiny 400-square-foot food shop in Long Island, New York. Garten thought she might be happier working in the food business over politics, as cooking was her passion. Compared to her stifling government job, Garten thought the food business could offer a greater sense of freedom and creativity. The following weekend, Garten and her husband Jeffrey drove out to New York and bought the shop for $20,000.

Persons: Ina Garten, didn't, Garten, Gerald Ford, Jimmy Carter, —, Julia Child's, Jeffrey Organizations: White, Management, New York Times, Barefoot, Hamptons Locations: Garten, Long Island , New York, New York

“Piers Morgan’s irresponsible broadcast filled with lies is so far over the line that a legal ultimatum was warranted,” Jordan Siev, one of Jay-Z’s lawyers, said Friday. Combs was arrested last month and will stand trial in May on charges of sex trafficking, racketeering and transportation to engage in prostitution. He has denied the allegations and remains jailed in Brooklyn pending a bail appeal. Speculation swirls around prominent figures who may have been involved or were aware of Combs’ alleged behavior. “I think those people get away with thinking that saying sorry is going to unring the bell,” Carson said.

Persons: Jay, Z, ”, Piers Morgan, Sean “ Diddy ” Combs, “ Piers Morgan’s, ” Jordan Siev, “, ” Morgan, Jaguar Wright, Morgan, Combs, ” Jay, Alex Livesey, Wright, Shawn Carter, ” Wright, there’s, ” Carson, they’re Organizations: YouTube, Champions League, Danehouse, Bad Boy Records, University of Virginia Locations: London, Instagram, Brooklyn, Carson

The unprecedented destruction Hurricane Helene has wreaked on western North Carolina could take months, if not years, to rebuild. “We are always playing like we’re one point down,” a Trump campaign official said. A Trump campaign official pointed to efforts to expand the Trump tent with surrogates like Robert F. Kennedy Jr., Tulsi Gabbard and Iowa Gov. The Harris campaign also hosted community meals that fed 120 families, and it is organizing similar events, spending more than $30,000 on relief efforts. Ultimately, after Biden toured North Carolina, Harris visited once in her official capacity after she visited Georgia to underscore relief efforts.

Persons: Helene, Kamala Harris, That’s, Harris, Donald Trump, Republicans —, Trump, it’s, “, Morgan Jackson, Roy Cooper, Josh Stein, ” Jackson, Mark Robinson, Hurricane Helene, Brendan Smialowski, Nikki Haley, Sen, Thom Tillis, Tillis, ”, Thomas Mills, ” Jonathan Felts, Robinson, Harris “, Robert F, Kennedy Jr, Tulsi Gabbard, Kim Reynolds, Haley, Trump’s, JD Vance, ” Harris, Bill Clinton, Andy Beshear, we’ll, ” Donald Trump, Michael M, ” Dory MacMillan, Joe Biden, Biden, Harris didn’t, “ He’s, Zeb Smathers, ” Smathers, “ We’ve Organizations: Democratic, Republicans, Republican, North Carolina, Trump, Gov, Getty, White, GOP, Federal Emergency Management, FEMA, Democratic North, Iowa Gov, Blue Dog, Univision, Kentucky Gov, U.S, Capitol, North Carolina Legislature, Democratic Party Locations: North Carolina, Greenville —, Hurricane, Meadowbrook, Augusta, Ga, AFP, Pennsylvania, Trump, Democratic North Carolina, Ohio, Raleigh, Kentucky, —, Valdosta, North Carolina , Georgia, Florida, Tennessee, Georgia, Canton , North Carolina

South Korea's central bank has cut its benchmark interest rate by 25 basis points to 3.25%, the first rate cut from the BOK since the Federal Reserve started tightening its monetary policy in March 2022. This was in line with a poll of economists from Reuters, who forecasted a rate cut. At that time, South Korea's inflation stood at 2.6%, but climbed sharply to hit 6.3% in July 2022, its highest in over 20 years. Oh noted that macro conditions are supportive of a rate cut, with a "favourable" inflationary backdrop. Oh predicts that after the October cut of 25 basis points, three more consecutive cuts will follow on a quarterly basis, eventually bringing the BOK's benchmark interest rate to 2.5%.

Persons: BOK, Morgan Stanley's, Kathleen Oh, We've, Morgan Stanley Organizations: Bank of, Federal Reserve, Reuters Locations: Bank of Korea, Seoul, Korea's, Korea

☆ Photos show some houses survived Hurricanes Helene and Milton while their neighbors crumbled. Homeowners can learn from them.
▼ + stars: | 2024-10-11 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: 1 min

"If you're doing only one thing, do the garage door because that is your largest and weakest opening," Chapman-Henderson said. Debris from damaged houses surround houses still standing after Hurricane Helene made landfall in Horseshoe Beach, Florida. CHANDAN KHANNA / AFPThat's why Chapman-Henderson says it's the most important part of the house to board up ahead of a storm, and the first thing to consider upgrading. The cheapest is to grab a drill and board up the garage door with wood 2-by-4s ahead of any incoming storm. Finally, homeowners can spend a few thousand dollars on a new garage door that's rated to withstand high winds.

Persons: Chapman, Henderson, Hurricane Helene, CHANDAN KHANNA Locations: Horseshoe Beach , Florida

☆ Nvidia-backed CoreWeave gets $650 million credit line from top Wall Street banks
▼ + stars: | 2024-10-11 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

CoreWeave, an Nvidia -backed artificial intelligence startup that rents out chips to other companies, announced Friday that it has a new $650 million credit line to expand its business and data center portfolio. In the past, CoreWeave has supplied Microsoft and French AI startup Mistral with graphics processing units, or GPUs. And in addition to developing the chips, Nvidia has taken stakes in emerging AI companies like CoreWeave, partly as a way to make sure its technology gets widely deployed. Last week, OpenAI received a $4 billion revolving line of credit, bringing its total liquidity to more than $10 billion. Many of the same banks contributed to OpenAI's credit line.

Persons: it's, CoreWeave, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Mike Intrator, CoreWeave's, OpenAI Organizations: Nvidia, London, Microsoft, JPMorgan, Barclays, Citi, Deutsche Bank, Jefferies, Mizuho Locations: Austin , Texas, Chicago, Las Vegas, French, MUFG, Wells Fargo

☆ Analysts are getting more bullish on Netflix ahead of earnings
▼ + stars: | 2024-10-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Netflix is less than a week away from issuing its third-quarter results, and some analysts think the stock is poised for more upside ahead. With a buy rating on the stock, Hodulik's target of $750 implies more than 2% upside from Thursday's close. Hodulik's forecast of double-digit growth comes as Netflix has already reported stronger-than-expected results for the previous two quarters this year. NFLX YTD mountain NFLX, year-to-date Other analysts are even more bullish on the name heading into earnings. Netflix has an average target of $708.75, implying about 3% downside, as of Thursday's close.

Persons: John Hodulik, Morgan Stanley, Oppenheimer, Benjamin Swinburne –, Jed Kelly, Kelly Organizations: Netflix, UBS, Squid, NFL Locations: 4Q23, U.S, United Kingdom, France

☆ Morgan Stanley recently met with Nvidia's management team. Here are the biggest takeaways as the bank eyes another 12% upside for the stock.
▼ + stars: | 2024-10-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Nvidia stock is set for more gains as demand for its GPU chips surges, Morgan Stanley says. Nvidia's Blackwell GPU is on schedule and is sold out for the next 12 months, the company said. AdvertisementNvidia stock is poised for more gains as its GPU chip business continues to see surging demand. AdvertisementThat should be a boon for Nvidia's GPU chip product set, according to the note. Nvidia stock is up 172% since the start of this year.

Persons: Morgan Stanley, Nvidia's, —, Jensen Huang, Colette Kress, Joseph Moore, Moore, Blackwell, Hopper Organizations: Nvidia's Blackwell, Service, Nvidia, Blackwell, Microsoft Locations: New York City

☆ Stocks making the biggest moves midday: Tesla, Wells Fargo, JPMorgan Chase, Fastenal and more
▼ + stars: | 2024-10-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

Third-quarter adjusted earnings were $1.52 per share, topping the $1.28 per share expected from analysts polled by LSEG. JPMorgan Chase – Shares jumped 4.7% after JPMorgan, the biggest American bank, posted third-quarter results that beat estimates for profit and revenue. BlackRock – Shares climbed 2.8% after the asset manager beat analysts' third-quarter expectations on the top and bottom lines. Bank of New York Mellon – The bank stock dropped 1%, even after the company issued a stronger-than-expected quarterly report. Analysts surveyed by LSEG were expecting $1.42 in earnings per share on $4.54 billion of revenue.

Persons: Morgan Stanley, Wells Fargo, JPMorgan Chase, Walmex –, Fastenal, FactSet, Wells, Warren Buffett's Berkshire Hathaway, Buffett, Natalie Knight, Doug Ostermann, Stellantis, Carlos Tavares, who's, LSEG, Kinder Morgan, Ferrari, BNY, —, Alex Harring, Lisa Kailai Han, Pia Singh, Hakyung Kim, Jesse Pound, Michelle Fox Organizations: San, LSEG, JPMorgan, JPMorgan Chase –, Walmart, Apple Pay, Bank of America, Securities and Exchange Commission, Finance, BlackRock, of, Bank of New York Mellon Locations: San Francisco, LSEG .

☆ We're hiking our Wells Fargo price target after the stock surged on earnings
▼ + stars: | 2024-10-11 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Wells Fargo reported results before Friday's opening bell. WFC YTD mountain Wells Fargo YTD Shares of Wells Fargo surged 6% on the release to more than $61. Wells Fargo Why we own it : We bought Wells Fargo as a turnaround story under CEO Charlie Scharf. We come away from the call feeling good not only about Wells Fargo's setup for next year. A resurgence in Wall Street dealmaking — both mergers and acquisitions and initial public offerings — will benefit Wells Fargo.

Persons: Wells, Wells Fargo, That's, Charlie Scharf, He's, Scharf, Charles Scharf, we've, Morgan Stanley, NII, Jim Cramer's, Jim Cramer, Jim Organizations: Investors, Wells, Federal Reserve, Bank of America, Citigroup, buybacks, Management, CNBC Locations: LSEG, Wells, Wells Fargo, reinvest, U.S, NII

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