Check out the companies making the biggest moves midday: Mirion Technologies — The radiation detection name fell more than 8% after it announced a common stock offering of $300 million. Mirion is also selling $250 million in convertible bonds. Worthington Steel — The metal processing company dropped 8% on mixed fiscal first-quarter results. While sales and operating income grew from the year-earlier period, but production volume declined. Freeport-McMoRan — Shares of the mining company slid 5%, adding to Wednesday’s 17% drop. The stock has been under pressure this week after Freeport declared force majeure at its Grasberg mine in Indonesia.…
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Alphabet may eventually become the largest company in the world as it edges out rivals in artificial intelligence, powered by growth and profits from its generative AI initiatives, according to MoffettNathanson. The investment firm, which has a buy rating on Alphabet shares, raised its price target by 28%, to $295 from $230. That implies more than 19% upside from Wednesday’s close. In a 19-page report headlined, “Alphabet: World’s Most Valuable Company,” MoffettNathanson acknowledged, “this is not a statement of the present, but of what we believe should be,” referring to the company’s market capitalization. A “combination of market leadership, diversification…
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. 1. The S & P 500 on Thursday was tracking for a third straight session lower, and the index was in jeopardy of breaking a three-week winning streak. The market finds itself under continued pressure because the 10-year Treasury yield keeps rising despite last week’s Federal Reserve interest rate cut. Big call from Jim Cramer on “Mad Money” on Wednesday night: Sell speculative stocks on parabolic moves higher with no real earnings or revenue to…
The U.S. Capitol in Washington, D.C., is seen on a cloudy and foggy morning, March 6, 2024.Kevin Dietsch | Getty ImagesThe White House warned federal agencies to prepare for mass firings if Congress does not reach a deal to fund the government before next Wednesday.A memo released Wednesday by the Office of Management and Budget told agencies whose funding expires Oct. 1 — and which do not have alternative funding sources and are “not consistent with the President’s priorities” — to consider issuing reduction-in-force notices for employees.The warning ratchets up the pressure on Congress to strike a deal to avert…
The Amazon Prime logo is displayed on the side of an Amazon delivery truck in Richmond, California, on June 21, 2023.Justin Sullivan | Getty ImagesAmazon will pay $2.5 billion to settle Federal Trade Commission allegations that it duped users into paying for Prime memberships, the regulatory agency announced Thursday.The surprise settlement comes as Amazon and the FTC were just three days into the trial in a Seattle federal court. Opening arguments took place on Tuesday. The lawsuit, filed by the FTC in June 2023 under the Biden administration, claimed that Amazon deceived tens of millions of customers into signing up…
“Growth at a reasonable price”, or “GARP”, is an investment strategy that looks to identify growing companies that are not trading at irrationally exuberant valuations. One of the most commonly used financial ratios is the “PEG Ratio”, which divides a company’s P/E ratio by its earnings growth rate (although the convention is that the growth rate is not expressed as a percentage, for simplicity, one must assume it is). For example, if a $100 stock has earnings of $6 per share, then its P/E ratio is $ 100 divided by $6, or ~16.7. If the company’s earnings are forecast to…
New England Patriots owner Robert Kraft speaks to media at Gillette Stadium to announce the team’s hiring of head coach Jerod Mayo.Eric Canha | USAToday | ReutersRobert Kraft, who paid $172 million for the New England Patriots in 1994, has agreed to sell 8% of the NFL team to two groups in a deal that values the franchise at $9 billion, according to two sources who have first-hand knowledge of the deal but are not authorized to speak about it publicly.The money the team will get from selling the 8% stake is going to stay on the Patriots’ balance sheet,…
Lisa Cook takes the oath of office to serve as a member of the Board of Governors at the Federal Reserve System during a ceremony at the William McChesney Martin Jr. Building of the Federal Reserve May 23, 2022 in Washington, DC. Drew Angerer | Getty ImagesEvery living former chair of the Federal Reserve, as well as a slew of ex-Treasury secretaries and former White House economic advisors, urged the Supreme Court on Thursday to block President Donald Trump from firing Fed Governor Lisa Cook as her lawsuit challenging her removal proceeds.The signers said in a legal brief, “The independence…
Michael Intrator, co-founder and chief executive officer of CoreWeave Inc., during an interview on the floor of the New York Stock Exchange (NYSE) in New York, US, on Monday, Sept. 22, 2025. Michael Nagle | Bloomberg | Getty ImagesCoreWeave on Thursday announced a $6.5 billion deal with OpenAI, expanding its current agreement with the artificial intelligence startup behind ChatGPT. The new agreement brings the AI cloud infrastructure provider’s total contracts with OpenAI to $22.5 billion. “This milestone affirms the trust that world-leading innovators have in CoreWeave’s ability to power the most demanding inference and training workloads at an unmatched pace,” CoreWeave…
A growing number of voices have warned about the impact that a “run” on stablecoins could have on traditional financial markets.Just_super | Istock | Getty ImagesPlans by a consortium of European banks to launch a new stablecoin could draw the region’s crypto-averse investors into the digital assets fold — and potentially speed up efforts to roll out a digital version of the euro.UniCredit, ING, Banca Sella, KBC, Danske Bank, Dekabank, SEB, CaixaBank and Raiffeisen said Thursday they plan to roll out a new euro-denominated stablecoin in the second half of next year.Stablecoins are a type of cryptocurrency designed to provide…
