10 things that matter most to me on Monday, December 4
1. U.S. stocks fell in pre-market trading, S&P 500 Index Futures fell 0.54%. The move comes after five straight weeks of gains for stocks – here’s my take on the huge rally we’ve seen. At the same time, bond yields fell, 10-Year Treasury Bond About 4.2%. Oil prices edged down 0.5% West Texas Intermediate Oil Crude oil is trading at about $73.60 a barrel.
2. Alaska Airlines Group (ALK) agree to purchase Hawaii Holdings (HA) deal valued at $1.9 billion. But was this destined from the beginning? We know U.S. antitrust authorities hate these deals.
3. Wells Fargo upgrades Cyber Ark (CYBR) was upgraded to overweight from equal weight, while its price target was raised to $250 per share from $166. The firm believes that CyberArk stock will outperform the market going forward as the cybersecurity competitive landscape changes.
4. shares Uber Technologies S&P Global said the ride-sharing company will join the S&P 500 index on December 18. The company’s shares rose about 4% in early trading to $59.83 per share.
5. Mizuho upgrade General Motors General Motors (GM) raised its stock price target to $42 per share from $38 per share. The company said investor sentiment on GM has “hit rock bottom” and believes the company should see “exceptional catalysts” from cost cuts, a renewed focus on electric vehicle profitability and stock buybacks.
6. Barclays raises price target adobe (ADBE) rose to $680 per share from $640, while reaffirming an equal rating on the stock. Adobe will report earnings on December 14th.
7. Piper Sandler gives club controlling stakes Nvidia (NVDA) Its “Top Large-Cap Picks,” Pushed to the Side Advanced Micro Devices (AMD). The company sees Nvidia’s “compelling” valuation, its “full-end computing” and software licensing as overall revenue contributors. Piper has a price target of $620 per share on Nvidia stock and an overweight rating.
8. Oppenheimer raises price targets for club names Broadcom (AVGO) rose from $990 to $1,100 per share while maintaining an outperform rating on the stock ahead of Thursday’s quarterly results. The company expects Broadcom’s acquisition of VMWare to increase its revenue by $15 billion annually.
9. UBS lowers target price for Club Holdings Ford (F) Price per share was lowered to $12 from $13 while maintaining a buy rating on the stock. The company believes a shift to more internal combustion engine vehicles could make profits more resilient. Additionally, HSBC has a hold rating and a price target of $11.30 per share on Ford.
10. Wells Fargo downgrades rating lululemon sport (LULU) was adjusted to equal weight from overweight, citing valuation, with an unchanged price target of $445 per share. The firm advised investors to “give it a second thought” after the stock’s strong performance so far this year.
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