Alibaba's U.S.-traded shares soared Monday after Chinese authorities announced plans to expand stimulus spending next year and co-founder Jack Ma highlighted the company's potential to benefit from AI. Alibaba affiliate Ant Group also named a new CEO.
Chinese stocks rallied on Monday after Beijing pledged a "moderately loose" monetary policy stance for the first time in over a decade.
A Comcast executive warned that the conglomerate expects to lose 100,000 broadband subscribers in the fourth quarter.
Citigroup's revision came after data on Friday showed nonfarm payrolls rose by 227,000 jobs last month, following an upward revision to 36,000 jobs in October. U.S. job growth surged in November after being severely hindered by hurricanes and strikes, but a rise in the unemployment rate to 4.2% pointed to an easing labor market that indicated the Fed could likely cut interest rates this month. Major brokerages including Morgan Stanley and Goldman Sachs have reiterated their expectation of a 25-basis-point interest rate cut by the Fed in December after the jobs data.
Food giant Mondelez is once again exploring an acquisition of chocolate maker Hershey, according to Bloomberg.
Costco Wholesale is scheduled to report earnings for the first quarter of fiscal 2025 after the market closes, with analysts expecting the retailer to report rising revenue and profits.
The S&P 500 is expected to end 2025 at a 7,100 level, suggesting a roughly 17% upside from Friday's
Palantir Technologies shares retreated Monday after hitting their latest all-time high earlier in the session.
Jefferies has upgraded Vertex Pharmaceuticals Inc. (NASDAQ:VRTX), citing the company’s robust cystic fibrosis base business and the additional upside from the new LNP/ mRNA therapy (around $1 billion opportunity) and “triple pill” regimens. The company’s pipeline can potentially exceed expectations if the data is positive. The analyst views the risk/reward balance as mostly neutral for 2024. The pain program stands out as a potential blockbuster, especially with the upcoming launch for acute pai
JP Morgan analyst Harlan Sur maintained an Overweight rating on Broadcom Inc (NASDAQ:AVGO) with a price target of $210. Broadcom will report fiscal fourth-quarter 2024 earnings on Thursday. Sur noted a strong demand profile for AI products, continued cyclical recovery in its diversified semiconductor (ex-AI) end markets, and unlocked VMWare revenue synergy. As a result, the analyst expects revenue, earnings, and free cash flow to be better than JP Morgan and consensus expectations (revenues comi