AppLovin (Nasdaq: APP) is shaving 9.5% off its value today despite a bullish sign out of Wall Street. Evercore ISI analysts have begun coverage of the stock with an “outperform” rating and $835 price target attached, touting its leadership in mobile ad technology. Morgan Stanley is similarly bullish, with an $800 price target on APP stock. AAP shares currently hover just above $600.
The U.S. Supreme Court was expected to hand down a ruling on President Trump’s tariff policy, which has already generated hundreds of billions of dollars for the Treasury, but has instead sidestepped the issue once again. The markets remain under pressure, with the Nasdaq Composite now down a steeper 1.5%, weighed down by the likes of Broadcom (Nasdaq; AVGO), which is losing nearly 5%, and Meta Platforms (Nasdaq: META), down 2%.
Goldman Sachs has reemphasized its “buy” rating on Amazon (Nasdaq: AMZN) stock, lifting its price target by $10 to $300 per share.
Wells Fargo analysts have reemphasized their “overweight” rating on Nvidia stock given its dominance in the gaming market segment as well as data center opportunities.
UBS analysts have turned bearish on Rivian (Nasdaq: RIVN) stock, downgraded shares from “neutral” to a “sell” rating with a $15 price target amid a weakening risk/reward profile on the EV maker.
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Markets have no shortage of headlines or earnings to respond to this morning. Overall it appears stock sentiment is being dragged lower by financial stocks as big banks continue to unveil their Q4 results and Wall Street is not impressed. The resilient consumer didn’t disappoint over the early holiday shopping season, with November retail sales 0.6% vs. the prior month and surpassing economist estimates. Results were also buoyed by strong auto sales in the period. President Trump has set his sights on acquiring Greenland for what he described as the “purpose of national security.”
Netflix (Nasdaq; NFLX | NFLX Price Prediction) stock is getting a bump today as the content streaming giant flexes by potentially overhauling its Warner Bros. offer to an all-cash deal. Separately, Microsoft (Nasdaq: MSFT) reportedly has been deepening its relationship with AI company Anthropic, doling out approximately $500 million per year on AI to support its solutions.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 49,121.06 Down 54.82 (-0.11%)
Nasdaq Composite: 23,553.45 Down 164.39 (-0.69%)
S&P 500: 6,933.49 Down 30.25 (-0.43%)
Wall Street banks are selling off after unveiling their Q4 performance. Despite beating analyst estimates on strong net interest income and stock market trading, Bank of America (NYSE: BAC) stock is getting hammered, down 3.5% in early trading. Citi (NYSE: C) is managing a fractional gain despite profit pangs. Wells Fargo (NYSE: WFC) also reported Q4 results, missing on revenue while sending the stock spiraling by a steep 4.1%.
Nvidia (Nasdaq: NVDA) CEO Jensen Huang is not shying away from the Google/Alphabet (Nasdaq: GOOGL) effect, posting on social media that “Alphabet and NVIDIA are expanding their decade-long partnership to advance agentic AI, robotics, drug discovery, and more.”
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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