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See the companies making headlines before the bell. Crypto Stocks – Stocks related to cryptocurrencies rose as Bitcoin climbed above $64,000 to start the week. Extending gains from the previous session, MicroStrategy and Mara Holdings – formerly Marathon Digital – each gained more than 5%, while Coinbase advanced more than 3%. Flutter Entertainment – Parent company FanDuel jumped 4% after Wells Fargo overweighted its shares, saying investors should consider buying the stock after the recent sell-off. Boeing – Shares fell 2.3% after the aircraft maker announced plans Friday afternoon to cut about 10% of its workforce, or about 17,000 people. Boeing also postponed delivery of its still uncertified 777X wide-body aircraft and forecast a larger-than-expected loss for the third quarter. The company is facing mounting losses due to an ongoing machinists’ strike. Sirius XM Holdings – The audio entertainment company rose 3.5% after Warren Buffett’s Berkshire Hathaway revealed it had purchased more shares. Berkshire bought about 3.6 million shares of Sirius last week, bringing its total holdings to more than 108 million shares, according to a securities filing. Caterpillar – The industrial company fell more than 2% after Morgan Stanley downgraded its shares from equal weight to underweight. The investment bank cited a potential upcoming destocking and a negative risk-reward environment for the stock. Ibotta – Shares jumped nearly 4% after Goldman Sachs upgraded Ibotta to neutral buy, saying the mobile company offering cash back to users presents an “attractive risk/reward” at its current valuation. The Wall Street firm cited the company’s growth opportunities through its partnerships with Walmart and Instacart. AppLovin – The mobile technology stock lost 3.7% following Goldman Sachs’ downgrade to neutral from buy. After a recent period of strong outperformance, the bank said AppLovin’s risk/reward ratio was more balanced. Hims & Hers Health — Shares rose more than 6% after the Food and Drug Administration said it would allow compounding pharmacies — those that sell custom medications — to sell their own versions of the company’s weight-loss drug. Eli Lilly, Mounjaro. — CNBC’s Alex Harring, Samantha Subin, Jesse Pound, Sarah Min, Hakyung Kim and Pia Singh contributed reporting.
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