TKO Group Stock Jumps On Bullish Analyst Views
42 minutes ago
TKO Group Holdings (TKO) stock was among the biggest gainers in the S&P 500 Wednesday, as the Ultimate Fighting Championship and World Wrestling Entertainment parent received some new bullish comments from analysts.
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Analysts from Bernstein on Wednesday rated the company’s stock as “overweight” with a $190 price target, and called it “an attractive investment in unique, owned & operated live sports entertainment with a clear strategy for sustained growth.”
The Bernstein analysts said they expect the broadcasting rights for UFC will continue to gain value and generate more revenue for TKO Group, which was one of four companies added to the S&P 500 in the first quarter. “As TKO continues to ‘festivilize’ its live events, we also see a compelling growth opportunity around site fees,” they added.
Citi analysts late Tuesday affirmed their “buy” rating and lifted their price target on TKO Group to $200 from $170 “to better reflect our media rights renewal expectations.” Eight analysts tracked by Visible Alpha rate TKO Group as a “buy,” while one calls it a “hold,” with the average price target of $191.11.
TKO Group shares were up more than 5% in recent trading to roughly $177, approaching the intraday record high of $179.09 set on Feb. 13.
–Aaron McDade
Marvell Jumps Amid Optimism About AI Growth Pipeline
1 hr 35 min ago
Shares of Marvell Technology (MRVL) popped Wednesday as analysts said the chipmaker’s Custom AI event revealed an expanded growth opportunity.
Bank of America raised its price target to $90 from $80 following the Tuesday event, which it said highlighted a “[s]tronger, more diverse pipeline” that could help Marvell stock “catch up to its AI peers.” Marvell shares were up more than 7% in recent trading to about $75.
At the event, Marvell said its total addressable data-center market is expected to reach $94 billion by 2028, up from its prior estimate of $75 billion, according to a transcript made available by AlphaSense. The company also announced two new clients for its next-generation AI accelerator chips, on top of three existing major customers. BofA said Big Tech investing heavily in AI infrastructure is a “rising tide” that can drive potential upside for Marvell.
Deutsche Bank analysts said Marvell is “one of the very few companies capable of addressing the rapidly growing custom data center silicon market.” The bank holds a price target of $85 for Marvell stock. Meanwhile, Citi and Morgan Stanley maintained targets of $96 and $73, respectively.
Despite Wednesday’s share gains, Marvell stock has lost roughly a third of its value this year after hitting a record high in January. Last month, Marvell offered a narrowed quarterly revenue forecast that failed to impress investors amid an uncertain macroenvironment, and a decision then to delay its investor day raised additional concerns.
–Andrew Kessel
Korn Ferry Surges as Higher Fees Boost Earnings
2 hr 33 min ago
Korn Ferry (KFY) shares jumped Wednesday after the consulting firm reported better-than-expected results, boosted by higher fees.
The company posted fiscal 2025 fourth-quarter adjusted earnings per share (EPS) of $1.32 on revenue that increased 3% year-over-year to $719.8 million. Analysts surveyed by Visible Alpha had expected $1.26 and $699.0 million, respectively.
Fee revenue increased 3% to $712.0 million, driven by executive search revenue, which jumped 14% to $227.0 million.
CEO Gary Burnison said that even though Korn Ferry faced “ever-changing global economic and political dynamics,” it continued to deliver on its financial and strategic objectives.
The company anticipates current-quarter adjusted EPS in the range of $1.18 to $1.26, and fee revenue of $675 million to $695 million. The Visible Alpha outlook was for $1.21 and $682.7 million, respectively.
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Korn Ferry shares were up about 10% in midday trading, putting the stock back into positive territory for the year.
–Bill McColl
Circle Stock Jumps on Senate Passage of Stablecoin Legislation
3 hr 42 min ago
Shares of USDC stablecoin issuer Circle Internet Group (CRCL) surged Wednesday morning after the Senate passed the GENIUS Act, which provides a federal government framework for use of the cryptocurrency whose value is tied to the U.S. dollar.
The legislation would open the door for use of stablecoins by banks, financial tech companies, retailers, and others, and was the first major legislation approved by Congress dealing with the digital currency industry.
New York Sen. Kirsten Gillibrand, a Democrat and one of the co-sponsors of the act, said it would “enable U.S. businesses and consumers to take advantage of the next generation of financial innovation” and “protect consumers, enable responsible innovation, and safeguard the dominance of the U.S. dollar.”
The bill now moves on to the House, which has its own version of stablecoin legislation known as the STABLE Act and has some differences from the GENIUS Act.3
Circle shares were up 10% at around $164 in recent trading. The stock only began trading June 5, when they nearly tripled their IPO price of $31.
–Bill McColl
Nucor Rises as Steelmaker Issues Rosy Profit Forecast
4 hr 38 min ago
Nucor (NUE) shares rose in early trading Wednesday after the steelmaker outlined better second-quarter profit projections than analysts had forecast.
The company said Wednesday morning that it expects second-quarter earnings per share to come in between $2.55 to $2.65, well above the current analyst consensus compiled by Visible Alpha of $2.21. In its first-quarter report in April, Nucor said it expected earnings to increase from the $0.67 per share it posted at the time, with improving profits across all three of its segments.
Nucor’s steel mills had a higher average selling price in the second quarter, while its division selling steel products is projected to report higher profits “due to a combination of stable overall pricing, higher volumes and lower average costs per ton.”
Nucor said it will release its second-quarter results after the bell on July 28, and hold an earnings call the next morning.
Analysts have grown more bullish on American steelmakers this year, expecting the Trump administration’s tariffs to raise prices in the industry and lead to higher profits in the sector.
Nucor shares were up more than 5% in recent trading, boosting its year-to-date gain to 10%.
–Aaron McDade
SunRun Levels to Watch After Yesterday’s Sell-Off
5 hr 27 min ago
SunRun (RUN) shares continued losing ground in premarket trading Wednesday after plunging 40% yesterday to lead a steep sell-off in solar energy stocks following news the Senate maintained the full removal of clean-energy tax credits in its version of the budget bill.
The stock has lost three-quarters of its value since hitting its 52-week high last August, weighed down by uncertainty surrounding the sector caused be policy changes, a clouded regulatory outlook and reduced demand.
Since topping out in early 2021, SunRun shares have remained entrenched in a steady downtrend, with losses in the stock accelerating after the 50-week moving average (MA) crossed below the 200-week MA in September 2022 to form a death cross.
More recently, a chart pattern that closely resembles a falling three methods has emerged, signaling a continuation of the stock’s long-term move lower. What’s more, the relative strength index has fallen back below its neutral threshold, confirming a resumption of selling momentum.
It’s also worth noting that trading volume has increased in recent weeks, indicating growing interest in the stock from both retail and institutional investors.
Investors should watch key support levels on SunRun’s chart around $4.75 and $4.33, while also monitoring important overhead areas near $8.50 and $13.25.
SunRun shares were down 2% at $5.66 in recent premarket trading.
Read the full technical analysis piece here.
–Timothy Smith
Major Index Futures Little Changed Wednesday
6 hr 5 min ago
Futures tied to the Dow Jones Industrial Average were up 0.1%.
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S&P 500 futures were also up 0.1%.
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Nasdaq 100 futures added 0.2%.
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