David Tepper's hedge fund, Appaloosa Management, made strategic moves in Q4 2023, including entering new positions, boosting select tech holdings, reducing exposure to semiconductors, and making key exits.
U.S. stocks closed mostly higher on Friday, while the S&P 500 closed above the 5,000 mark for the first time. For the week, all three indices recorded their fifth consecutive weekly gain with the S&P gaining 1.4% and the Dow adding 0.04% last week.
Companies Reporting Before The Bell
• Ares Management (NYSE:ARES) is expected to report quarterly earnings at $1.09 per share on revenue of $864.54 million.
U.S. stocks traded lower, with the Nasdaq Composite falling more than 90 points on Thursday. Here are some big stocks bucking the trend and recording gains in today’s session.
Wells Fargo analyst Sam Reid initiated coverage on several homebuilding and building products stocks.
The analyst said recent volatility in the homebuilding space offers an opportunity. Reid cites that the high rates pose a barrier for resales but offer interesting TAM implications amid low existing home sales (EHS) builders.