Stocks rose Thursday and the
moved toward an all-time closing high on expectations that the Federal Reserve will cut interest rates next year.
was up 6.8% after hedge fund HG Vora Capital Management, which has an 18.5% economic interest including swaps, said in a filing that shares of the casino operator were “significantly undervalued” and that it has discussed “a range of topics focused on enhancing shareholder value” with the company, including placing directors on the board.
fell 8.7% after jumping 15% Wednesday. The stock’s decline was putting in jeopardy the cryptocurrency miner’s winning streak of 11 sessions.
was falling 1.5% after the after the Federal Aviation Administration said it was monitoring “targeted inspections of 737 MAX airplanes to look for a possible loose bolt in the rudder control system.” The airplane maker recommended the inspections.
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Chile’s
and the National Copper Corporation of Chile, or Codelco, have formed a public-private partnership to develop lithium in the Salar de Atacama, a huge lithium resource, from 2025 to 2060. SQM shares were up 3%.
was rising 6.9%. Bloomberg reported that billionaire Xavier Niel has expressed interest in buying the Portuguese operations of Altice, which are separate from cable operator
The stock gained 12% on Wednesday. It has declined 33% this year.
U.S.-listed shares of
Baidu
,
which often is referred to as China’s Google, rose 3.9% after the company said Ernie Bot, its artificial-intelligence chatbot service product, has more than 100 million users.
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the asset management company that focuses on exchange-traded products, was upgraded to Buy from Neutral at Northcoast with a $9 price target. Shares were up 5.8% to $7.08.
will replace
in the S&P SmallCap 600 index on Jan. 2, according to S&P Dow Jones Indices. It was announced in August that satellite-communications company EchoStar would be merging with Dish, the pay-TV provider.
was rising 4.2%.
was up 0.5% after closing with a slight gain on Wednesday anf putting an end to a four-session losing streak. The tech giant on Wednesday won a temporary reprieve from a U.S. government ban on the sale of some
Watch models.
rose 0.3% to $375.23 Analysts at Wedbush raised their price target on the stock to $450 from $425 and maintained an Outperform on the shares. The analysts said artificial intelligence is ”set to change the cloud growth trajectory” for
in the next few years. Microsoft, along with OpenAI, were sued Wednesday by
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which alleged the companies used the newspaper’s content without its permission.
Write to Joe Woelfel at joseph.woelfel@barrons.com
