Netflix NFLX, -0.01% was downgraded to neutral from buy at Citi, which kept a $500 price target on the streaming giant. “First, we believe 2024 revenue estimates may be a tad too high. Second, we see scope for 2025 content investments to exceed Street estimates. Third, we cannot rule out potential acquisitions,” said analysts led…
Deutsche Bank upgraded JPMorgan Chase JPM, -0.15% to buy from hold while downgrading Wells Fargo WFC, to hold from buy, in a note on U.S. banks ahead of results this Friday. Analyst Matthew O’Connor said there are three key themes to 2024 — lower interest rates, which help bank capital but weigh on earnings; credit…
Dell Technologies Inc.’s stock DELL, -2.34% rose 2.5% in premarket trading on Monday after JP Morgan upgraded the company to overweight from neutral. “We are more positively inclined toward the AI-driven compute investment cycle, which will benefit branded server companies…even as the drivers for the remaining businesses are more mixed, being subject to the macro…
Jefferies has raised its Costco Wholesale Corp. COST, +1.18% price target to $755 from $725, citing the membership retail chain’s strong comparable store sales, or same-store sales. “December core comps were +8.1% with sales up 9.9% YoY,” wrote Jefferies analyst Corey Tarlowe, in a note released Friday. “Traffic experienced positive trends both worldwide and domestically,…
Shares of Tesla Inc. TSLA, -1.86% climbed 1.2% in premarket trading Thursday, putting them on track for a three-month high. The electric vehicle giant’s stock has rocketed 112.2% year to date, which would make 2023 its third-best year since going public in June 2010, behind the 743.4% surge in 2020 and the 344.1% rally in…
Shares of Marathon Digital Holdings Inc. MARA, +7.79% shot up 8.4% toward a 20-month high in midday trading Friday, to put them on track to extend their win streak to a record nine sessions. The cryptocurrency miner’s stock was rallying again, even as bitcoin BTCUSD, -0.19% fell 0.2%, as Marathon’s stock and bitcoin continue to…
Shares of Nike Inc. OF, -11.83% plunged 12.9% toward a one-month low in premarket trading Friday on the back of a disappointing earnings report, as they head for the biggest one-day selloff in 26 years. The athletic apparel and accessories giant’s stock was the biggest decliner among Dow Jones Industrial Average DJIA, -0.05% and the…
Shares of Micron Technology Inc. MU, +8.63% jumped 7.5% in premarket trading Thursday, as they head toward a 21-month high in the wake of a strong earnings report. The memory chip maker’s stock, which is becoming an artificial-intelligence play, was the best premarket performer in the Nasdaq 100 NDX, +1.23% and the PHLX Semiconductor Index…
Shares of Google and YouTube parent Alphabet Inc. GOOGL, +0.76% GOOG, +0.65% jumped 3% in afternoon trading Wednesday, enough to pace the S&P 500’s SPX, +0.17% gainers. The internet search behemoth’s stock was on track for the highest close since April 4, 2022, according to Dow Jones Market Data. Analyst Josh Beck resumed coverage of…
Shares of Enphase Energy Inc. ENPH, +9.53% jumped 7.8% toward a four-month high in afternoon trading Tuesday, enough to pace the S&P 500’s gainers. The stock’s rally comes after the solar and alternative-energy products company said late Monday that it plans to lay off 10% of its workforce as it looks to cut costs amid…
