Investing.com — The holidays are less than a week away, but there’s plenty of news and market action for investors to digest. This week’s Investing.com stocks include:
Insurance stocks, Edison, PCG
The California wildfires have had a significant impact, and according to RBC Capital, are “expected to be among the costliest in history, especially given the number of high-value homes affected.”
“As the fires are still burning, it is difficult to get a full assessment of the damage, but we believe there could be at least $10 billion to $20 billion in losses (depending on how long the situation lasts). It could get even bigger),” he added. bank.
Stocks such as Edison and Pacific Gas & Electric fell -5.8% and -10.5%, respectively, on Friday due to the fire. Edison fell more than 10% in Wednesday trading.
Insurance stocks elsewhere also fell, with Allstate (NYSE:) and Chubb (NYSE:) falling more than 6% and 4%, respectively.
mobileye global (NASDAQ:)
MBLY has fallen over 20% this week. The decline followed the company’s presentation at the Consumer Electronics Show (CES).
Investors appear to have reacted to the lack of new commercial progress updates during the event, in contrast to high expectations from the company’s previous announcements.
Bloomberg Intelligence analyst Jake Silverman noted that the presentation did not provide updates on new commercial milestones.
“Mobileye’s CES speech lacked an update on commercial progress after an eventful capital market day in December, likely causing a negative reaction to the stock price,” Silverman said. There is a possibility.”
airline stocks
Airline stocks rose on Friday after Delta Air Lines’ latest quarterly earnings report beat consensus estimates. The company said demand will accelerate through the fourth quarter. As of 1:35 p.m. ET Friday, Delta Air Lines (NYSE:) stock was up about 9.4%.
“As we move into 2025, we expect strong demand for travel to continue as consumers increasingly seek the premium products and experiences Delta offers,” said CEO Ed Bastian. ” he said.
Following this result, other airlines such as United Airlines (+4%) and American Airlines (+4.3%) also posted solid profits.
constellation energy (NASDAQ:)
Constellation Energy shares soared more than 25% on Friday. The increase followed news that the company will acquire privately held geothermal company Calpine in a cash and stock deal valued at about $16.4 billion.
Following this announcement, Bank of America raised its price target for CEG from $269 to $308.
“The Company does not anticipate any significant regulatory challenges. This transaction may require market power approval from FERC, the Department of Justice (Hart-Scott-Rodino Antitrust Division), and the PUC.” There is a gender,” the bank said.
“While we do not expect this to be a long and difficult process, potential market power issues could arise given the integrated generation position in PJM. He said he would propose a limited sale of PJM assets to alleviate concerns about power.
snap
Snap stock is up more than 6% as of press time on Friday as the Supreme Court considers a possible U.S. ban on social media app TikTok.
TikTok is going to the U.S. Supreme Court today in a final attempt to overturn the ban.
Reuters reported on the same day that a Supreme Court judge “expressed skepticism” over the challenge by TikTok and its Chinese parent company ByteDance.
