Check out the companies making headlines in cloud trading. US Steel – Shares fell 8.6% Tuesday, the day after President-elect Donald Trump said he would stop Japan’s Nippon Steel from buying the Pittsburgh steelmaker. The deal was initially set to take effect by the end of 2023, but has since faced political and labor opposition. AT & T – Telecom shares jumped more than 4% after forecasting more than $ 18 billion in free cash flow in 2027. AT & T also set a three-year strategy, including plans to double the availability of fiber internet and increase the 5G network. . Upstart Holdings – The artificial intelligence-powered lending market rose nearly 4% on the back of Redburn Atlantic’s upgrade to buy. Redburn said the worst is behind the company and “the best is yet to come.” Credo Technology Group – The maker of cables used in AI data centers surged 41% after posting strong fiscal second-quarter earnings and issuing higher current-quarter revenue guidance. Credo earned 7 cents per share adjusted for revenue of $72 million in the quarter that just ended, while analysts polled by LSEG had expected 5 cents and $67 million. Zscaler – The cloud security company posted in-line guidance for fiscal second-quarter earnings that disappointed investors, sending shares more than 3.5% lower. Zscaler beat analyst-adjusted earnings and earnings in its fiscal first quarter. PSQ Holdings – Shares surged 89% after the company announced that Donald Trump Jr. was joining its board of directors. The appointment is effective immediately. Cleanspark – The bitcoin miner fell 4.3% on weaker-than-expected revenue for fiscal year 2024. Revenue came in at $379 million, below the $395 million consensus estimate of analysts surveyed by FactSet. Tesla – The electric vehicle maker fell nearly 2% after a Delaware judge blocked the reinstatement of CEO Elon Musk’s $56 billion pay package. Tesla said it plans to appeal the decision. South Korean Stocks – US-listed South Korean stocks fell after the country’s president declared martial law. He eliminated some of these losses, but after the parliament voted to lift the declaration. The iShares MSCI South Korea ETF ( EWY ) fell 2.5%, while the Franklin FTSE South Korea ETF ( FLKR ) lost 1.9%. FedEx – The Memphis-based package delivery company fell 3.3% after being downgraded by Bernstein to market performance from outperform. The investment bank expressed uncertainty about meeting high expectations for the potential spin off of the truck-less business. Ollie’s Bargain Outlet Holdings – The discount retailer fell 2.7% after being downgraded to equal weight from overweight at Wells Fargo. “The best time to own OLLI may have passed,” the bank said. “Mgmt has strengthened its foundation while taking cyclical tailwinds, but the path forward appears to be more difficult than appreciated and big picture questions remain.” – CNBC’s Jesse Pound, Sarah Min, Hakyung Kim, Pia Singh and Michelle Fox contributed reporting
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