Business & Finance
CoreWeave Debt Stress; JB Hunt Falls on Rising Costs | Stock Movers
Key Points
On this episode of Stock Movers: - CoreWeave (CRWV) shares are moving as it remains at the center of the tech selloff this week. Shares in CoreWeave plunged 20% in the first three sessions of the week as its debt tumbled to levels that typically indicate distress. By Thursday morning, investors were pricing a more than 60% chance of a default within five years.
On this episode of Stock Movers:
- CoreWeave (CRWV) shares are moving as it remains at the center of the tech selloff this week. Shares in CoreWeave plunged 20% in the first three sessions of the week as its debt tumbled to levels that typically indicate distress. By Thursday morning, investors were pricing a more than 60% chance of a default within five years.
- Apollo Global Management (APO) shares are responding to a price target downgrade from Morgan Stanley.
- JB Hunt (JBHT) is lower as it aims to improve margins by raising prices after rising costs weighed on third-quarter profitability. (Source: Bloomberg)