Stock markets

Meta stock rockets 20% on solid earnings: Analyst reactions

Mark Zuckerberg told the world in Oct. 2021 that he was rebranding Facebook to Meta as the company pushes toward the metaverse. Facebook | via Reuters Meta shares rallied 20% overnight, with a slew of analyst upgrades coming off the back of a fourth-quarter revenue beat and optimistic prognostications from CEO Mark Zuckerberg. Meta shares …

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Beware tech stocks — these cash-rich names are a better bet: Analysts

Forget growth stocks like tech. Analysts recommend that investors go for companies with lots of cash. The market rallied in January — including the tech-heavy Nasdaq Composite, which rose nearly 10.7% last month for its best monthly performance since July. But analysts say companies with pricing power are a safer bet than tech, given that …

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Adani scraps $2.5 billion share sale as the value of his empire collapses

London CNN — Indian billionaire Gautam Adani on Wednesday abandoned a deal to raise $2.5 billion from investors after a week-long meltdown in the value of his logistics and energy business empire that started when an American short seller accused the conglomerate of fraud. The share sale — the largest offering by a company already …

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Nasdaq 100 futures rise, propelled by Meta shares

S&P 500 futures advanced Wednesday night as investors looked beyond the latest interest rate hike and commentary from the Federal Reserve. Futures tied to the broad index added 0.4%. Nasdaq 100 futures gained 1%, helped by Meta shares. Futures connected to the Dow Jones Industrial Average ticked down 9 points, near flat. Meta surged more …

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How the Fed managed to spark a stock rally while still talking tough

Fed Chairman Jerome Powell talked tough Wednesday, promising more rate hikes in the unrelenting battle against inflation, but he also let slip a few comments dovish enough to send the stock market sharply higher. The Federal Reserve raised interest rates Wednesday afternoon by a quarter point, as expected, and also kept a comment in its …

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Stocks moving big after hours: META, ALGN, ELF

Rafael Henrique | Sopa Images | Lightrocket | GettyImages Check out the companies making headlines in after-hour trading. Meta — The Facebook parent jumped 17% after the company announced a $40 billion stock buyback when reporting quarterly results. Meta beat analysts’ estimates for fourth-quarter revenue, according to Refinitiv. Meta also said it lost $13.7 billion …

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Morgan Stanley sees this gene therapy stock doubling from here

Rocket Pharmaceuticals could soar as a trial with blockbuster sales potential entering a pivotal phase, according to Morgan Stanley. Analyst Michael Ulz initiated the stock at overweight with a $45 price target. That target share price implies the stock will rally 107.1% from Tuesday’s close. Ulz called Rocket a “leading gene therapy company” that could …

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Bank of America asked its analysts for their top 2023 picks—Here are the stocks

Stocks are off to a hot start for the year, and Bank of America analysts think some buy-rated names in their coverage universe can carry that momentum through the rest of 2023. The S&P 500 is up more than 5% in January, on pace for its best start to a year since 2019. Slowing inflation …

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