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Stocks finished higher on this holiday-shortened trading week, with all the major U.S. averages posting gains. Under the hood, all sectors closed higher for the week, led by utilities, materials and financials. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. The U.S. Federal Reserve, alongside global central banks, has been trying to get a handle on soaring inflation.
November's jobs report is the big event for markets in the week ahead, and it could provide important insight into the path of Federal Reserve interest rate hikes. The labor market has cooled only slightly, as other parts of the economy have slowed. But the labor market has been more resilient than expected, challenging the Fed's efforts to tame inflation by slowing economic activity. Besides the jobs report, there is the Job Openings and Labor Turnover Survey (JOLTS) report Wednesday, as well as the Fed's beige book on economic activity. "Holding above 4,000, as we await the jobs report and those other economic reports would be constructive for one more move before Christmas," he said.
It's been a difficult year for technology stocks since the Nasdaq Composite traded at record levels. The tech-heavy index is down more than 30% since hitting a record closing high of 16,057.44 on Nov. 19, 2021. Back then, investors willingly paid a sharp premium for growth-oriented technology stocks trading at steep valuations and expected to continue climbing in a low-interest rate environment. Along with CrowdStrike, software stocks Datadog and Zscaler also made the cut, with shares down 57% each from Friday's close. Match Group , Intuit and MercadoLibre rounded out the list of stocks positioned to potentially lead the Nasdaq higher.
Oatly – Shares of the oat-based drinks maker tumbled 11% after the company reported a larger-than-expected quarterly loss and revenue that fell short of consensus. Oatly cited China Covid restrictions, production challenges and a stronger U.S. dollar for the weakness in its performance. Amazon – Amazon fell 1.4% following a report that it plans to lay off about 10,000 employees as soon as this week. The cuts would be the largest in the company's history, and would primarily affect Amazon's devices organization, retail division and human resources, according to The New York Times. Cloud stocks – Cloud stocks slipped Monday as investors took gains off the table.
Cloudflare is poised for a big comeback going forward, according to Wells Fargo. Analyst Andrew Nowinski upgraded the stock to overweight from equal weight, raising his price target to $65 from $62. He also said that a sign of the company's future health could come during its earnings call early next month. He added that this is helping the stock long term, while also making a beneficial short term play through consolidation. "Cloudflare had the best overall results in our 3Q22 Reseller Survey and were +19% net positive (up from +13% in 2Q22).
Fox Corp , News Corp — Fox shares dropped 8%, while News Corp gained more than 4% after Rupert Murdoch formed a special committee to explore a possible deal that would put his two media companies back together. Wells Fargo reiterated its equal weight rating on the streaming service ahead of the company's earnings this week. Speculative tech stocks — South American e-commerce stock Mercadolibre surged 11%, while Chinese tech stock Pinduoduo jumped more than 6%. Bank stocks — Several bank stocks moved higher Monday on positive earnings for the sector. Bank of NY Mellon gained 4.9% following its earnings beat and Signature Bank , set to report earnings on Tuesday, jumped 6%.
Cloud stocks plummeted 11% this week, the steepest drop since January, as executive departures at Five9 and Zscaler and investors' continued rotation out of risk combined to send the group to its lowest level since March 2020. The WisdomTree Cloud Computing Fund, a basket of 75 cloud software stocks, has lost 53% of its value for the year, more than double the drop in the S&P 500. Five9 shares suffered the biggest decline in the index, falling 29% for the week, after CEO Rowan Trollope said he was leaving to run a pre-IPO company. Security software vendor Zscaler announced the resignation of its president, Amit Sinha, who is also taking a CEO position at a pre-IPO company. The WisdomTree index fell all five days this week, and had its worst day on Friday, dropping 3.6%.
ClickUp has brought on new executives as it looks to grow and prepare for an eventual IPO. Productivity and collaboration startup ClickUp has brought on new executives from competitors like ServiceNow to help it grow and prepare for an eventual IPO. From ServiceNow comes two execs: Jim Bartolomea, now ClickUp's new senior VP of people, and Marshall Tyler, ClickUp's newly-minted chief strategy officer. ClickUp's new leadership bench will be focused on "creating a predictable, scalable, and efficient revenue engine," Tommy Wang, ClickUp's chief business officer, told Insider. Jim Bartolomea is ClickUp's new senior VP of People ClickUpThat's where Bartolomea, the new senior VP of people, comes in.
Here are the companies making headlines before the bell:Angi (ANGI) – Angi shares added 2% in premarket trading after the online home services company named Joey Levin as CEO, replacing Oisin Hanrahan. Leggett & Platt (LEG) – Leggett & Platt tumbled 8.6% in the premarket after the industrial manufacturer slashed its full-year sales and earnings guidance. Meta Platforms (META) – Meta was downgraded to "neutral" from "overweight" at Atlantic Equities, which also lowered its price target for the Facebook and Instagram parent's stock to $160 per share. Roblox (RBLX) – Roblox slumped 4.3% in the premarket after the stock was rated "underweight" in new coverage at Barclays. Warner Music Group (WMG) – The music publisher's stock rallied 3.4% in premarket trading after Goldman Sachs began coverage with a "buy" rating.
Amgen — The biopharma stock jumped 6.2% after Morgan Stanley upgraded Amgen to overweight from equal weight, saying Amgen is "largely derisked" and provides defensiveness for investors. Walgreens' rally came after the company announced an acquisition of healthcare firm CareCentrix. Leggett & Platt — Shares dropped 7.3% after the industrial manufacturer cut its full-year sales and earnings guidance, citing rising inflation and challenging economic conditions. Zscaler — The cloud security stock dropped 5% after Zscaler announced the resignation of company president Amit Sinha. ON Semiconductor , Qualcomm — Semiconductor stocks continued their decline on Tuesday after the Biden administration on Monday announced new restrictions on exports to China.
Potrivit experților de la ZScaler, aplicațiile conțin un malware numit Joker, care poate accesa cu ușurință mesajele, lista de contacte și alte informații privind smarthphone-ul. ”Joker este unul dintre cele mai cunoscute tipuri de malware care vizează în permanență dispozitivele Android.”, a explicat cercetătorul ZScaler, Viral Gandhi, transmite digi-world.tv. ”Deși mulți oameni știu despre acest malware, el continuă să facă ravagii prin aplicațiile Google, întrucât modifică codul, metodele de execuție ori felul în care acționează”, a mai explicat acesta. În urma acestui avertisment, Google a șters 17 aplicații din Google Play, însă acestea au fost descărcate de peste 120.000 de ori. De asemenea, experții de la ZScaler au lansat un avertisment pentru utilizatorii de Android, care ar trebui să fie atenți la aplicațiile pe care ar trebui să le instaleze.
Persons: Gandhi Organizations: Google
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