CoreWeave Gets Wall Street Upgrades, Cleveland-Cliffs Surges, Match Rises
Today's biggest gainers and decliners in the stock market. On this episode: CoreWeave (CRWV) was upgraded to buy from neutral at Goldman Sachs, a move that represents a vote of confidence in the cloud-computing provider following a period of heavy volatility for the stock related to its debt. JP Morgan Chase & Co also noted that investor concerns over CoreWeave are likely overdone. Shares of the AI computing provider plunged about 20% last week as rising bond yields fueled concerns over its debt-funded expansion, contributing to a market-wide selloff. Shares initially rose on the support from Wall Street before turning negative. Cleveland-Cliffs (CLF) surged after the US steelmaker posted quarterly earnings that more than quadrupled from the previous year on higher metal prices and reduced competition from foreign imports. Cliffs’ shares climbed as much as 20.3.% in New York trading on Monday to $14.58, the highest price since June. Match (MTCH) are higher after Evercore ISI upgraded the online dating company to outperform from inline, seeing improved trends. See omnystudio.com/listener for privacy information.