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☆ Stocks making the biggest moves midday: Palo Alto Networks, 3M, Amedisys, Target and more
▼ + stars: | 2023-06-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

A view of the exterior of the new Dutch head office of international technology company 3M in Delft, Netherlands, November 5, 2014. EPAM Systems — Shares of the software engineering firm tumbled 18% after it cut guidance amid further deterioration in near-term demand. Amedisys — The health care company's shares rallied 14% after it received an unsolicited buyout offer from Optum, a unit of UnitedHealth , to acquire Amedisys for $100 a share in cash. ImmunoGen — The biotechnology company's shares gained 5% after it announced results from ovarian cancer treatment Elahere showing a roughly 35% reduction in the risk of disease progression or death compared to chemotherapy. Dollar General — Shares fell 2.7% after Morgan Stanley downgraded the discount retailer's stock to equal weight from overweight Sunday.

Persons: Dow, Coinbase, Binance, Changpeng Zhao commingled, Robinson, Ford's David Bozeman, Morgan Stanley, KeyBanc, —, Yun Li, Alex Harring, Jesse Pound, Samantha Subin, Brian Evans Organizations: Palo Alto Networks, Dow Jones, Dish Network, 3M, Bloomberg, U.S . Securities, Exchange Commission, Care, Ford, Equitrans Midstream Corporation, Ford Motor Co, Citi, Spotify, Target, Apple —, Developers Conference, Apple Locations: Delft, Netherlands, Optum, Bozeman, U.S, Cupertino , California

☆ Watch this natural gas stock for more than 50% upside as key pipeline gains steam, Morgan Stanley says
▼ + stars: | 2023-06-05 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Morgan Stanley thinks one natural gas company could add more than 50% to its stock value thanks to progress on a key pipeline. Equitrans stock closed at $9.08 on Friday and has gained nearly 42% since the start of the year. ETRN YTD mountain Equitrans stock has added more than 41% from the start of the year. "In short, the language offers a clear and comprehensive directive that should prove effective in ensuring completion of the project," Kad said. And despite the stock jumping nearly 50% after news broke of the debt ceiling bill, Kad says there is still lots more upside in Equitrans stock.

Persons: Morgan Stanley, Robert Kad, Kad, ETRN, CNBC's Michael Bloom Organizations: Corporation Locations: West Virginia, Virginia

☆ A Wall Street trader made a $7.5 million windfall on a suspiciously-timed investment ahead of a surprise debt limit deal concession
▼ + stars: | 2023-06-04 | by ( Walt Hickey | ) www.businessinsider.com time to read: +2 min

A debt ceiling deal surprisingly green-lit the Mountain Valley Pipeline. The identity of the mystery trader is unknown, and some think it's an insider trading concern. Then, on May 27, the debt deal including the Mountain Valley Pipeline was struck. The options are still outstanding, so that number could grow in the event that Equitrans Midstream continues to rally. The deal on Mountain Valley was kept secret up until the debt deal was announced.

Persons: —, West Virginia Sen, Joe Manchin, Equitrans Midstream, Midstream, Equitrans, Manchin, Kevin McCarthy, watchdogs Organizations: Service, Bloomberg, Equitrans Midstream Corporation, White Locations: West Virginia, Virginia

☆ BofA names 4 stocks to tap the world's largest EV market — and says one has 71% upside
▼ + stars: | 2023-06-01 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

China's electric vehicles are "much more competitive than before" — and it's likely to remain the world's largest EV market in 2025, according to BofA. BofA shares some tips on how investors can position themselves in the country's EV market. For Li Auto, it gave the U.S.-listed shares a price target of $37, or 27% possible upside. As for the EV market, BofA is bullish on its battery supply chain in particular. BofA's top pick in copper is Chinese miner Zijin Mining , which it gave a price target of 18 Hong Kong dollars, or 71% upside.

Persons: BofA, Li, — CNBC's Michael Bloom Organizations: U.S, Green, Stock, Buffett, Li Auto, Li, EV, China EV, China's, Hong Locations: China, Hong Kong

Brookfield and DigitalBridge are leading opposing bidding consortia in the auction for privately held DigitalBridge, the sources said, adding an outcome is expected by next month. The terms of Compass' debt allow for it to be taken over by a new owner without it being refinanced, one of the sources said. The Deal reported in February that Compass Datacenters was exploring a sale. Compass Datacenters, Brookfield Infrastructure Partners and DigitalBridge declined to comment. During the same month, Brookfield Infrastructure also acquired freight container lessor Triton International Ltd (TRTN.N) for about $4.7 billion.

Persons: Dealmaking, Brookfield, Milana Vinn, Anirban Sen, Daniel Wallis Organizations: Brookfield Infrastructure Partners, DigitalBridge, RedBird Capital Partners, Ontario, Azrieli, Brookfield Infrastructure, Reuters, Triton International, Boca, Thomson Locations: Brookfield, Dallas , Texas, Data4, Boca Raton , Florida, New York

☆ These companies are winners in the debt ceiling deal
▼ + stars: | 2023-05-30 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —The debt ceiling deal in Washington did not set off a celebration in the stock market. The Sierra Club called on Congress to reject the deal and pass a clean bill to raise the debt ceiling. Wall Street is also betting lending company SoFi will cash in from the debt ceiling deal because it calls for borrowers to start paying back federal student loans at the end of the summer. IRS funding cuts, defense spending intactMeanwhile, the debt ceiling deal would shift a total of $20 billion in IRS funding from fiscal 2024 and fiscal 2025 to be used in non-defense areas. The defense industry is also emerging largely unscathed from the debt ceiling battle, unlike in 2011 when Washington agreed to significant defense spending cuts.

☆ Biden, McCarthy debt deal would speed up Mountain Valley gas pipeline
▼ + stars: | 2023-05-29 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +2 min

[1/2] U.S. President Joe Biden hosts debt limit talks with U.S. House Speaker Kevin McCarthy (R-CA) in the Oval Office at the White House in Washington, U.S., May 22, 2023. REUTERS/Leah MillisWASHINGTON, May 28 (Reuters) - U.S. energy company Equitrans Midstream Corp's (ETRN.N) long-delayed $6.6 billion Mountain Valley natural gas pipeline could win federal approval as part of Washington's debt limit deal. The pipeline is backed by Democratic West Virginia Senator Joe Manchin, whose vote is often needed since the Democrats hold a thin majority in that body. The pipeline, which would unlock gas supplies from Appalachia, the country's biggest shale gas basin, still needs review and permitting including in West Virginia. Mountain Valley is owned by units of Equitrans, NextEra Energy Inc (NEE.N), Consolidated Edison Inc (ED.N), AltaGas Ltd (ALA.TO) and RGC Resources Inc (RGCO.O).

☆ Here are stocks to own to take the debt ceiling, bond market out of your investing equation
▼ + stars: | 2023-05-21 | by ( Jim Cramer | ) www.cnbc.com time to read: +18 min

Are the travails of the bond market, like Macbeth expounds, a "tale told by an idiot, full of sound and fury, signifying nothing?" The billionaire class — so incorrectly sought after by the media — so often seems to use the bond market as a sort of intellectual cudgel. That's why I always start my discussion on bonds with the simple query of "where are the layoffs, not forget about stocks, think fixed income." Here the bond market polices only those companies that haven't pivoted to making a profit. They, among all sectors, could be pummeled by the bond market freeze and by the consumers' paralysis.

☆ Lightning Round: Don't take the risk of buying Taiwan-based companies right now, says Jim Cramer
▼ + stars: | 2023-05-17 | by ( Jim Cramer | ) 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 EmailLightning Round: Don't take the risk of buying Taiwan-based companies right now, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Tesla, Magellan Midstream Partners, Lantheus, Himax Technologies, and Stem.

☆ Cramer's Lightning Round: Tesla is a buy
▼ + stars: | 2023-05-17 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Tesla's year-to-date stock performance. Stock Chart Icon Stock chart icon Magellan Midstream Partners' year-to-date stock performance. Stock Chart Icon Stock chart icon Lantheus Holdings' year-to-date stock performance. Stock Chart Icon Stock chart icon Himax Technologies' year-to-date stock performance. Stock Chart Icon Stock chart icon STEM's year-to-date stock performance.

☆ Biden administration grants Mountain Valley Pipeline permit
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

May 16 (Reuters) - The Biden administration has approved a permit to allow the Mountain Valley natural gas pipeline to run through the Jefferson National Forest straddling Virginia and West Virginia, Senator Joe Manchin said on Tuesday. Manchin, a conservative Democrat of West Virgina, has introduced a bill to speed fossil fuel and renewable energy projects that calls on the administration to approve Equitrans Midstream Corp's (ETRN.N) $6.6 billion Mountain Valley pipeline. The Biden administration has supported Manchin's bill as it would help renewable energy companies reap the benefit of billions of dollars of tax credits contained in last year's Inflation Reduction Act. The Mountain Valley Pipeline has been opposed by environmental activists, but won the backing of Biden administration officials, including Secretary of Energy Jennifer Granholm. The Forest Service is part of USDA.

☆ Dow, S&P edge up as data, debt ceiling curb gains
▼ + stars: | 2023-05-15 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

The Dow Jones Industrial Average (.DJI) rose 47.98 points, or 0.14%, to 33,348.6, the S&P 500 (.SPX) gained 12.2 points, or 0.30%, to 4,136.28 and the Nasdaq Composite (.IXIC) added 80.47 points, or 0.66%, to 12,365.21. Meta Platforms Inc (META.O) climbed 2.16% as one of the top boosts to both the Nasdaq and S&P 500 after Loop Capital upgraded it to "buy" from "hold." Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 11, 2023. REUTERS/Brendan McDermidIn a relatively light week for economic data, investors will focus on retail sales, weekly jobless claims and housing data. The S&P 500 posted nine new 52-week highs and seven new lows; the Nasdaq Composite recorded 59 new highs and 136 new lows.

☆ ONEOK shares drop on concerns over Magellan pipeline deal
▼ + stars: | 2023-05-15 | by ( Laura Sanicola | Arathy Somasekhar | ) www.reuters.com time to read: +2 min

(Reuters) - Shares of gas pipeline operator ONEOK Inc fell about 9% on Monday on questions about potential synergies from its deal to acquire oil pipeline operator Magellan Midstream Partners. FILE PHOTO: A drilling rig operates in the Permian Basin oil and natural gas production area in Lea County, New Mexico, U.S., February 10, 2019. REUTERS/Nick Oxford/File PhotoONEOK on Sunday said it would pay $18.8 billion in cash and stock for Magellan to diversify its natural gas and gas-liquids transportation business into oil and oil products. “The deferral of Oneok’s corporate cash taxes seems like a major deal component,” Mizuho analysts wrote in a research note. “ONEOK and Magellan have geographical overlap among their assets, but their primary businesses are very different,” Morris said.

Atlanta Fed President Raphael Bostic said on Monday he does not expect any interest-rate cuts this year, while Minneapolis Fed President Neel Kashkari said inflation is "much much too high" despite the rate hikes. Investors now await comments from Fed Chair Jerome Powell on Friday for any clues on potential rate cuts this year. Shares of Magellan jumped 13.7%. Advancing issues outnumbered decliners by a 2.14-to-1 ratio on the NYSE and by a 1.92-to-1 ratio on the Nasdaq. The S&P index recorded six new 52-week highs and seven new lows, while the Nasdaq recorded 44 new highs and 110 new lows.

"And as Washington leaks out increments with rolling disclosure about how the discussions are proceeding ... that probably is bolstering confidence in investors." ET, Dow e-minis were up 51 points, or 0.15%, S&P 500 e-minis were up 7.5 points, or 0.18%, and Nasdaq 100 e-minis were up 20.75 points, or 0.15%. Atlanta Fed President Raphael Bostic said on Monday he does not expect any interest-rate cuts this year as he does not see inflation going down as fast as market participants believe. Chicago Fed President Austan Goolsbee, Minneapolis Fed President Neel Kashkari and Fed Board Governor Lisa Cook are among other Fed officials set to speak later in the day. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ $14 Billion Deal to Create Mega-Pipeline Company
▼ + stars: | 2023-05-15 | by ( Collin Eaton | ) www.wsj.com time to read: 1 min

The deal’s price tag amounted to a 22% premium over Magellan’s common units. Photo: Kris Tripplaar/Sipa USA/Associated PressPipeline operator Oneok agreed Sunday to buy smaller rival Magellan Midstream Partners for about $14 billion, a deal that would form one of the biggest U.S. companies involved in transporting and storing energy. The deal’s price tag, including $8.8 billion in equity and $5.1 billion in cash, amounted to a 22% premium over Magellan’s common units as of Friday. Oneok said it would assume Magellan’s $5 billion in net debt. The deal was expected to close in the third quarter, pending the approval of regulators and investors.

May 14 (Reuters) - ONEOK Inc (OKE.N) agreed on Sunday to buy U.S. pipeline operator Magellan Midstream Partners (MMP.N) in a cash-and-stock deal valued at about $18.8 billion including debt, bringing natural gas-focused ONEOK into transporting refined products and oil. The deal will give ONEOK, until now a transporter of natural gas liquids and natural gas, access to Magellan's refined products and crude oil transportation business. The combined company will have 44% of its business in NGLs, and 21% in refined products, according to a presentation. The deal comes as U.S. natural gas prices have struggled this year because of oversupply concerns. Crude prices have traded off in 2023 on potential recession fears, although not as badly has natural gas.

☆ Jim Cramer expects defensive stocks to be resilient as debt ceiling talks drag on
▼ + stars: | 2023-05-15 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

With lawmakers in a stalemate about the debt ceiling, CNBC's Jim Cramer said Monday to put faith in defensive stocks like health care, discount stores, and natural gas. Cramer looked to the 2011 debt ceiling crisis for guidance, noting that even though history seems to be repeating itself, it's not as simple as finding what rallied after that deal was finalized. You want winners that stayed winners right through the worst of the debt ceiling talks," Cramer said. In the way of consumer-focused defensive stocks, Cramer pointed to Chipotle as a safe bet. "I wish I were less skeptical of a theoretical debt ceiling deal falling apart or coming together less than perfectly," Cramer said.

☆ Stocks making the biggest premarket moves: Shake Shack, Charles Schwab, H&R Block, DuPont and more
▼ + stars: | 2023-05-15 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Charles Schwab -- Stock in the brokerage firm added 2.4% in premarket trading. SoFi Technologies -- The stock sank nearly 6% in the premarket following a downgrade by Wedbush to underperform from neutral. The Wall Street firm said SoFi's fee income may be reaching a tipping point and it may need to raise capital this year to support growth. Dupont De Nemours -- Shares added 2.7% in premarket trading after Deutsche Bank upgraded the chemical company to buy from hold. The Wall Street firm said the stock was trading at a 50% discount to its peers.

☆ Futures edge higher in early hours on debt talks optimism
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures up: Dow 0.32%, S&P 0.37%, Nasdaq 0.33%May 15 (Reuters) - U.S. stock index futures edged higher on Monday amid optimism that lawmakers will reach an agreement to raise the U.S. debt limit to avoid a catastrophic default, and ahead of speeches by Federal Reserve officials lined up through the week. ET, Dow e-minis were up 108 points, or 0.32%, S&P 500 e-minis were up 15.5 points, or 0.37%, and Nasdaq 100 e-minis were up 44.5 points, or 0.33%. Markets are waiting to hear them to gauge the pricing of rate cuts this year. The Dow Jones Industrial Average (.DJI) fell 1.1% last week, while the S&P 500 index (.SPX) fell 0.3% and the Nasdaq (.IXIC) rose 0.4%. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks making the biggest moves midday: Shake Shack, Charles Schwab, Activision Blizzard and more
▼ + stars: | 2023-05-15 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Oneok shares slid 7.7%. The IRS is due to release the report this week, the Wall Street Journal reported. Activision shares added 1%, while Microsoft was little changed. The Wall Street firm said shares trade at a significant discount to peers. The Coach and Kate Spade parent has a strong valuation and long-term investment case, the Wall Street firm said.

☆ ONEOK to buy Magellan Midstream Partners in deal valued at $18.8 billion
▼ + stars: | 2023-05-14 | by ( ) www.reuters.com time to read: 1 min

May 14 (Reuters) - ONEOK Inc (OKE.N) agreed to buy Magellan Midstream Partners (MMP.N) in a cash and stock deal valued at around $18.8 billion including assumed debt to diversify in the midstream oil and gas industry, the company said on Sunday. ONEOK will pay $25 and 0.6670 shares of ONEOK common stock for each outstanding Magellan common unit. The deal is expected to be accretive to earnings per share beginning in 2024, with EPS accretion of 3% to 7% per year from 2025 through 2027, ONEOK said in a statement. Magellan will be merged into a wholly owned subsidiary of ONEOK, with ONEOK CEO Pierce Norton continuing to serve as chief executive officer of the combined company. Reporting by Jyoti Narayan in Bengaluru; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

"Right now, the permitting process for clean energy infrastructure, including transmission, is plagued by delays and bottlenecks. The White House is backing a bill by Manchin of West Virginia, who has grown more critical in recent months of the administration's attacks on the fossil fuel industry. The White House released a detailed fact sheet outlining reform measures its seeking, including helping clean energy projects like wind and solar get on the grid faster. Manchin's legislation sets a two-year limit on environmental reviews of major federal energy projects, including ones on fossil fuels and directs the president to designate at least 25 high-level energy projects and prioritize their permitting. The White House said it is using existing authorities to speed permitting of energy projects.

SummarySummary Companies Shell, Equinor shares outperform sector indexRivals BP, Chevron, Exxon also beat expectationsOil and gas prices slumped in first quarterShell shares up 2.1%, Equinor up 2.7%LONDON/OSLO, May 4 (Reuters) - Energy giants Shell (SHEL.L) and Equinor (EQNR.OL) reported higher-than-expected first-quarter profits on Thursday, using the heft of their trading desks to offset lower oil and gas prices. The stronger-than-expected profits from the two companies follow forecast beating results from rivals Exxon Mobil (XOM.N), Chevron and BP over the past week. Shell's shares were up around 2.1% in early trading and Equinor shares rose around 2.7%, outperforming a European index of oil and gas companies (.SXEP) which was up around 1%. Benchmark Brent crude oil prices averaged $81 per barrel in the first three months of the year, down 16% from a year earlier and 7% from the fourth-quarter. Lower natural gas prices also weighed on Shell's giant integrated gas business, with profits slumping 18% on the quarter.

☆ Senator Manchin introduces new U.S. energy permitting bill
▼ + stars: | 2023-05-02 | by ( Timothy Gardner | ) www.reuters.com time to read: +2 min

Senator Joe Manchin (D-WV) speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2023. Senator Joe Manchin introduced on Tuesday his latest measure to speed permitting of both fossil fuel and renewable energy projects, as he tries to win support from both major parties after similar bills failed several times last year. The legislation, Building American Energy Security Act, sets a two-year limit on environmental reviews of major federal energy projects and one year for smaller ones, reduces court delays over energy projects, and directs the U.S. president to designate at least 25 high level energy projects and prioritize their permitting. And Republicans who were angry with Manchin for supporting President Joe Biden's climate legislation did not support his bill last year. And Manchin could get support from some Republicans in the Senate, currently controlled by Democrats, whose states would benefit from energy projects.

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