From CNBC: 2024-05-03 11:31:58

On Friday, U.S. stocks jumped as Wall Street welcomed a softer-than-expected jobs report, indicating the Fed’s inflation efforts are working. Apple stock soared over 6% after beating quarterly expectations and announcing a record-breaking stock buyback. Coterra Energy shares rose 2% following strong earnings with above-guidance oil production and below-expectation capital spending, leading to increased profits and cash flow. Mizuho Securities raised Coterra Energy’s price target to $37, citing the company’s consistent outperformance.

However, Eli Lilly stock fell 2% after Amgen hinted at positive trial results for its weight-loss drug, causing concerns about competition. Despite this, Eli Lilly has a strong position in the weight-loss market, including a direct-to-consumer platform for its anti-obesity drug Zepbound. As a CNBC Investing Club subscriber, you will receive trade alerts before Jim Cramer makes a move, with specific waiting periods after alerts before trades are executed.



Read more at CNBC:: Here’s what’s driving Friday’s moves in Apple, Coterra and Eli Lilly