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Market Movers: Coinbase Soars, Arm Eyes Acquisitions, Nu Holdings CEO Sells Shares

AInvestMonday, Oct 14, 2024 6:30 pm ET
1min read
1. Coinbase Global (Nasdaq: COIN)
Coinbase Global surged by 11.32%. JMP Securities reiterated its "Market Outperform" rating on Coinbase Global with a target price of $320. Barclays maintains an "Equal-Weight" rating, raising the target to $175. Coinbase disclosed multiple insider transactions in September, and former executives are launching the TrueX trading platform.

2. Nu Holdings Ltd. (NYSE: NU)
Nu Holdings Ltd. surged by 7.08%. Nu Holdings' CEO David Velez sold 31 million shares for approximately $404 million, reducing his stake by 3%. B of A Securities, JP Morgan, and Susquehanna maintain neutral ratings, with respective price targets of $15 and $16, while Barclays remains overweight with a target of $17.

3. Arm Holdings Plc (Nasdaq: ARM)
Arm Holdings Plc surged by 6.84%. Arm Holdings is reportedly interested in acquiring Intel's product division, but Intel declined. Meanwhile, Arm Holdings is enhancing high-performance CPUs with its Cortex-X925, and JPMorgan rates Arm as "overweight" with a target price of $140. William Blair also gives an "outperform" rating.

4. Vistrarp. (NYSE: VST)
Vistrarp. gained solidly by 5.6%. Vistra's Q2 2024 revenue was $68.99 billion, down 9.39% year-over-year. Guggenheim, BMO Capital, RBC Capital, Jefferies, and Morgan Stanley all reaffirmed their ratings, with updated price targets of $177, $146, $141, $137, and $132 respectively.

5. Marvell Technology (Nasdaq: MRVL)
Marvell Technology gained solidly by 4.96%. Marvell Technology's Q2 report showed $24.34 billion revenue with a $4.09 billion net loss. Citigroup and B of A Securities maintain "Buy" ratings with target prices of $91 and $90. Insider trades disclosed: executives sold shares in September.
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.