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Bloomberg

SpaceX Joins Nasdaq 100; Crinetics Pharmaceuticals Soars on Buyout | Stock Movers

On this episode of Stock Movers: - Fiserv (FISV) is climbing as the Wall Street Journal reports big banks including JPMorgan Chase, Bank of America, Wells Fargo and PNC Financial Services Group have held preliminary discussions about a deal to acquire a network owned by the financial-technology company Fiserv. - Crinetics Pharmaceuticals (CRNC) is soaring after Vertex Pharmaceuticals agreed to buy Crinetics for $10 billion in cash to expand into endocrinology. - SpaceX (SPCX) is lower even though at least six brokers, including Morgan Stanley and Goldman Sachs, have started coverage of SpaceX with buy-equivalent ratings. SpaceX's addition to the Nasdaq 100 should provide considerable support to the stock, considering the number of funds that track the tech-heavy benchmark.

Read more: SpaceX Joins Nasdaq 100; Crinetics Pharmaceuticals Soars on Buyout | Stock Movers
Bloomberg

Evercore's Emanuel Doesn't See Federal Reserve Moving on Rates This Year

Julian Emanuel, Evercore ISI chief equity and quantitative strategist, doesn't believe the Federal Reserve will move on interest rates this year. Emanuel is maintaining his S&P 500 year-end price target of 7,750 even though stocks have become more volatile. He speaks on "Bloomberg Surveillance."

Read more: Evercore's Emanuel Doesn't See Federal Reserve Moving on Rates This Year
Bloomberg

Nuveen's Cooper Sees Rotation Back Into Hyperscalers

Laura Cooper, global investment strategist and macro credit head at Nuveen, discusses the outlook for equity markets and why she sees the potential for a rotation back into hyperscalers. "Valuations have come off, we're now seeing revenue growth have a slight upturn going forward, and we've seen several weeks of consecutive outflows," Cooper tells Bloomberg Television.

Read more: Nuveen's Cooper Sees Rotation Back Into Hyperscalers