The
S&P 500
moved toward an all-time closing high on Thursday, while the Nasdaq declined.
These stocks made moves Thursday:
Penn Entertainment
was up 6.4% 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.
Marathon Digital Holdings
fell 9.5% after jumping 15% Wednesday. The stock’s decline ended the cryptocurrency miner’s winning streak of 11 sessions.
Boeing
fell 0.7% 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.
Chile’s
SQM
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 1.5%.
Altice USA
rose 6.6%. Bloomberg reported that billionaire Xavier Niel has expressed interest in buying the Portuguese operations of Altice, which are separate from cable operator
Altice USA.
The stock gained 12% on Wednesday. It has declined 29% this year.
U.S.-listed shares of
Baidu,
which often is referred to as China’s Google, rose 3% after the company said Ernie Bot, its artificial-intelligence chatbot service product, has more than 100 million users.
WisdomTree,
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 6.4% to $7.13.
EchoStar
will replace
Dish Network
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.
EchoStar
rose 6.6%.
Apple
was up 0.2% after closing with a slight gain on Wednesday and 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
Apple
Watch models.
Microsoft
rose 0.3% to $375.28. 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
Microsoft
in the next few years. Microsoft, along with OpenAI, were sued Wednesday by
New York Times,
which alleged the companies used the newspaper’s content without its permission.
Write to Joe Woelfel at [email protected]
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