Straight from Benzinga newsdesk, host Brent Slava brings you the market news and stocks to watch.

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Hosts:

Brent Slava Reach out to Brent at [email protected]

Sr. Reporter, Head of Benzinga Newsdesk

Michael O'Connor Reach out to Michael at [email protected]

Benzinga Strategy Development

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META, GSAT, EA, X, FL

• Meta Platforms (META) -
• Analysts at JP Morgan upgraded shares of Meta to the equivalent of a buy rating Friday morning. The analysts cited "encouraging signs of increasing cost discipline."
• Globalstar (GSAT) -
• A play on the satellite space. News in the space Friday morning showed Maxar Technologies (MAXR) will be bought out in a $4 billion deal. Maxar shares were up more than 100% on the news.
• Electronic Arts (EA) -
• A play on the video game space. Leader in the metaverse-style gaming space, Roblox (RBLX), published worse than expected November results on Thursday morning.
• Video game analysts Friday morning noted "rising engagement concerns" for Roblox. Traders Friday morning may have speculated about potential spillover from engagement concerns into the broader video game space.
• US Steel (X) -
• A sympathy play following news Steel Dynamics (STLD) posted better-than-expected fourth-quarter earnings per share guidance.
• The steel pair trade is one of the most classic sympathy plays; steel stocks are very correlated with each other.
• Foot Locker (FL) -
• A peer play ahead of upcoming earnings out of NIKE (NKE) next week.
• Foot Locker shares have been known to move with NIKE shares given their proximity within the sports apparel space.

 

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