Cleveland-Cliffs reported adjusted earnings of 28 cents per share, exceeding the FactSet estimate of 21 cents, which significantly boosted investor confidence and led to a stock increase of over 10%. This positive performance comes amid challenges, as the Canadian government has threatened legal action regarding layoffs at its Stelco operations.
Intel's shares rose nearly 4% after JPMorgan upgraded the stock to neutral from underweight, with analyst Harlan Sur noting solid management execution despite a lengthy turnaround process. Datadog experienced a 3% increase following a Bernstein upgrade to outperform, with analyst Peter Weed highlighting the positive impact of AI trends on the company's future.
Amazon's stock gained more than 1% after Morgan Stanley identified it as a top pick, raising its price target based on accelerating growth in Amazon Web Services and the potential of its Bedrock AI platform. Additionally, Blue Owl Capital's shares ticked up by 1% after reports of potential sale discussions with investment bankers, indicating interest in the company's assets