Upstart, Affirm, Six Flags, Delta, United: Trending tickers
US stocks (^GSPC) added to the previous session's rally Thursday after the Federal Reserve's 'dot plot' implied three rate cuts in 2024.
Lending platforms Upstart (UPST) and Affirm (AFRM) are among Thursday's market winners as shares jumped amid optimism for lower borrowing costs next year.
Morgan Stanley upgraded amusement park operator Six Flags (SIX) to "Overweight" from "Equal Weight" and raised its price target to $32 on expectations for accelerating revenue growth in 2024.
Goldman Sachs named Delta (DAL) and United (UAL) its top airline stock picks for 2024. Analyst Catherine O’Brien sees an acceleration in Delta's high-margin segments and United's premium travel exposures as catalysts for the stocks next year.
Yahoo Finance's Seana Smith and Brad Smith break down all the details.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Video Transcript
BRAD SMITH: The US market's moving higher over a stronger than expected retail sales report. November retail sales posted surprise growth signaling the US consumer remains in better position than feared. And the S&P is up as investors continue to celebrate a dovish shift by the Federal Reserve.
SEANA SMITH: Taking a look at some of those individual movers. Here's a fintech firm. Affirm is pushing higher, along with its rival, Upstart. Now this comes after the Fed decided to hold rates steady in its final rate decision of 2023. You're looking at Upstart shares, up just about 8%.
BRAD SMITH: And a nice pop from Six Flags, this morning. The amusement-park operator was upgraded at Morgan Stanley to overweight from equal weight. The analysts behind that call sees Six Flags revenue growth accelerating in 2024 and believes the potential merger between Six Flags, Cedar Fair, and that dealmaking would serve as a potential catalyst, a positive catalyst for the stock.
SEANA SMITH: We are watching airline stocks today. Goldman making its top picks for 2024 saying that investors should stand by Delta and United. Those are their top plays in the airline space. Analysts behind that call citing accelerated growth in Delta's high-margin business. And potential in United's premium travel exposure. We're seeing gains in both of those names here.
