While the stock market has staged a spectacular rebound over the past month, some stocks are more to thank than others. The S & P 500 has come back since a sell-off in early April following President Donald Trump’s announcement of steep tariffs. The broad index has erased losses for this year — an especially significant feat considering it at one point slipped into a bear market, or a drop of at least 20% from a recent high. A handful of stocks posted outsized gains during this period, a CNBC Pro analysis shows. CNBC Pro looked at which S &…
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The Fortune 500 index ranks the 500 largest companies in the nation by revenue. Third on the list, trailing only Walmart and Amazon, is the nation’s largest health insurer, UnitedHealth. The company has had a tough go of it recently. Late last year, the CEO of the company’s UnitedHealth subsidiary was shot and killed just as he was entering the Hilton in Midtown to present at a conference. The company missed earnings and reduced guidance in April. On Tuesday, the CEO resigned “for personal reasons,” the company suspended guidance only a month after reducing it. The average of analysts’ 12-month…
Microsoft is poised to build on an already strong 2025 performance, according to Citi. The bank hiked its price target to $540 per share from $480. That implies upside of 19% from Wednesday’s close. Citi also kept its buy rating on the stock. Shares of Microsoft have added 7% this year. MSFT YTD mountain MSFT YTD chart Analyst Tyler Radke highlighted Microsoft’s strong fiscal earnings and revenue beat along with strong cost efficiencies and improving performance from its Azure cloud business. Microsoft on Tuesday said it would lay off roughly 6,000 employees, or 3% of its workforce — which Radke…
Jakub Porzycki | Nurphoto | Getty ImagesCoinbase on Thursday reported that cyber criminals bribed overseas support agents to steal customer data to use in social engineering attacks. The incident may cost Coinbase up to $400 million to fix, the company estimated.The crypto exchange operator received an email on May 11 from someone claiming they obtained information about certain Coinbase customer accounts as well as other internal Coinbase documentation, including materials relating to customer-service and account-management systems, Coinbase reported in an SEC filing.Shares fell 4%.The email demanded money in exchange for not publicly disclosing the information, but Coinbase says it has…
FILE PHOTO: A view of the U.S. Supreme Court in Washington, U.S., July 19, 2024.Kevin Mohatt | ReutersPresident Donald Trump on Thursday again argued for an end to birthright citizenship in the United States, hours before the Supreme Court is set to hear arguments on whether lower-court judges can impose national injunctions blocking such executive actions as litigation over them plays out.The case comes as Trump has issued executive orders related to a range of issues that have been halted by federal district court judges.”Big case today in the United States Supreme Court,” Trump wrote in a social media post.”Birthright…
Yoni Assia, Co-Founder and CEO of eToro, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2023. Patrick T. Fallon | Afp | Getty ImagesIn eToro’s IPO filing, ahead of the company’s market debut on Wednesday, the stock trading platform spent over 1,500 words spelling out the potential risks of operating in Israel, home to corporate headquarters.While the current military conflict between Israel and Hamas hasn’t “materially impacted” business, “the continuation of the war and any escalation or expansion of the war could have a negative impact on both global and regional conditions and may…
Check out the companies making headlines before the bell. Walmart – The discount retailer reported better-than-expected earnings , but shares were slightly lower in the premarket. Walmart posted an adjusted profit of 61 cents per share, beating an LSEG estimate of 58 per share. Revenue of $165.61 billion was about in line with the consensus forecast of $165.84 billion. Dick’s Sporting Goods , Foot Locker – Shares of Dick’s Sporting Goods slid nearly 11% after the athletic apparel and goods company agreed to purchase smaller rival Foot Locker for $2.4 billion. Dick’s offered $24 per share of Foot Locker, which implies…
Here are Thursday’s biggest calls on Wall Street: Evercore ISI reiterates Netflix as outperform Evercore said it’s bullish heading into the company’s investor event on Thursday. ” Netflix is simply running away with the Streaming market thanks to excellent execution, a stellar content slate, and scale advantages.” Raymond James downgrades JetBlue to market perform from outperform Raymond James downgraded the stock mainly on valuation. “We are downgrading JetBlue to Market Perform on more balanced risk-reward, with the shares having reached our $5.00 target price following our April tactical upgrade — the third best performing scheduled service U.S. airline in our…
Federal Reserve Chair Jerome Powell said Thursday that longer-term interest rates are likely to be higher as the economy changes and policy is in flux.In remarks that focused on the central bank’s policy framework review, last done in the summer of 2020, Powell noted that conditions have changed significantly over the past five years.During the period, the Fed witnessed a period of surging inflation, pushing it to historically aggressive interest rate hikes. Powell said that even with longer-term inflation expectations largely in line with the Fed’s 2% target, the era of near-zero rates is not likely to return anytime soon.”Higher…
Dozens were killed in Israeli strikes across the Gaza Strip on Thursday, the territory’s health ministry said, as U.S.-backed attempts to push Israel and Hamas to agree to a new cease-fire remain deadlocked.Dozens more were injured in the attacks, according to the ministry, which does not distinguish between civilians and combatants.Israel has threatened a significant military escalation in the coming days unless Hamas lays down its arms and frees the remaining hostages it holds. But the Palestinian armed group has rejected Israel’s conditions, demanding an end to the war and a full Israeli withdrawal in exchange for releasing the captives.The…
