The main U.S. market indexes edged down on Monday during the midday session as investors assessed the inflation data that would be released this week, although regional bank shares rose. Looking at the specific stocks, American Airlines ( NASDAQ: AAL ) and Fortinet ( NASDAQ: FTNT ) shares jumped on an analyst upgrade, while Six Flags Entertainment ( NYSE: SIX ) shares increased in response to stronger than expected Q1 earnings. Meanwhile, PacWest Bancorp ( NASDAQ: PACW ) led the rally among regional banks after slashing the dividend to build capital. Among decliners included crypto stocks, mainly pulled down by decline in bitcoin ( BTC-USD ) prices amid Binance ( BNB-USD ) concerns. Occidental Petroleum ( NYSE: OXY ) shares fell after Warren Buffett stated that Berkshire Hathaway ( BRK.A ) did not want to take complete control of the oil company. Gainers Six Flags Entertainment ( SIX ) shares jumped more than 21% after topping consensus mark in Q1 . The CEO stated: "Looking ahead, our team is excited to launch numerous special events this summer, including Viva La Fiesta, Flavors of the World, Six Flags Fireworks Spectacular, and parades. These events, combined with exciting new rides and attractions and our focused investments in infrastructure, should help us deliver an enhanced guest experience this year." American Airlines Group ( AAL ) shares rose nearly 4% after J.P. Morgan upgraded the stock to Overweight from Neutral. Analyst Jamie Baker said they breathed a bit more revenue life into the 2024 and raised EPS estimate to $3.00 from $2.50. Fortinet ( FTNT ) shares rose roughly 3% after Bank of America analyst Tal Liani upgraded the company to Buy from Neutral on the basis of good fundamentals following strong first-quarter performance . The price target has been lifted from $66 to $75.00 per share. Analysts believe the stock's premium price to its cyber peers is justified, given the company's excellent fundamentals. PacWest Bancorp ( PACW ) shares rose around 2% at midday after surging more than 36% in premarket hours after the company cut its dividend to $0.01 from prior $0.25 to build capital. Paul Taylor, the company's CEO and president, described the dividend reduction as "a prudent step to accelerate our plans to build capital to CET1 of 10%+." He also added that PacWest's business "remains fundamentally sound." Decliners Shares of Occidental Petroleum ( OXY ) fell almost 2% after Chairman and CEO Warren Buffett stated that Berkshire Hathaway ( BRK.A ) ( BRK.B ) did not want to gain complete control of the firm. Elsewhere, crypto related stocks fell after Bitcoin ( BTC-USD ) slipped about 4% amid Binance ( BNB-USD ) worries . MicroStrategy ( NASDAQ: MSTR ) -7.4% , Riot Platforms ( NASDAQ: RIOT ) -7.7% , Marathon Digital ( NASDAQ: MARA ) -8.7% , Hut 8 Mining ( NASDAQ: HUT ) -4% , Hive Blockchain ( NASDAQ: HIVE ) -3% , Cipher Mining ( NASDAQ: CIFR ) -6% and Coinbase Global ( NASDAQ: COIN ) -0.2%. To keep track of Wall Street's biggest winners and losers throughout the session, head over to Seeking Alpha's On The Move section .
Why Bitcoin Price is Up Today?
