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Crypto-related Stocks saw a boost as Bitcoin surpassed $64,000 at the start of the week. MicroStrategy and Mara Holdings both gained over 5%, while Coinbase saw a 3% increase.
Flutter Entertainment, the parent company of FanDuel, rose by 4% following an upgrade from Wells Fargo, advising investors to consider buying the stock after a recent sell-off.
Boeing’s shares dropped 2.3% after announcing plans to cut approximately 10% of its workforce. The company also delayed the delivery of its 777X wide-body plane and predicted a larger-than-expected loss for the third quarter due to ongoing challenges.
Sirius XM Holdings experienced a 3.5% increase after Warren Buffett’s Berkshire Hathaway acquired more shares of the company. Berkshire’s recent purchase totaled around 3.6 million shares.
Caterpillar’s stock fell more than 2% after Morgan Stanley downgraded it to underweight, citing potential de-stocking ahead and a negative risk-reward outlook.
Ibotta’s shares rose nearly 4% after Goldman Sachs upgraded them to buy, noting the company’s growth potential through partnerships with Walmart and Instacart.
AppLovin’s stock decreased by 3.7% following a downgrade from Goldman Sachs to neutral, citing a more balanced risk-to-reward ratio after a period of strong performance.
Hims & Hers Health surged over 6% after the FDA allowed compounding pharmacies to sell their own versions of Eli Lilly’s weight loss drug, Mounjaro.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.