Happy Thursday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.

• 🟥 | US stocks fell Thursday as stubborn inflation concerns weighed on the market. The Dow dropped 0.1%, the S&P 500 lost 0.2%, and the Nasdaq dipped 0.05%.

• 📈 | One Notable Gainer: GXO Logistics shares surged over 14% after reports that the company is exploring a potential sale with financial advisors.

• 📉 | One Notable Decliner: First Solar fell 8% after Jefferies cut its price target, citing expected Q3 disappointment and supply chain issues extending into 2025.

• 🗞️ | Tomorrow's Trade: News Meets New Tech. Scroll down for more.

Plus, from our sponsor: even ChatGPT admits the AI boom could be a bad deal compared to these stocks.

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MARKET MOVERS

PayPal, Celsius, 10x Genomics

PYPL (-3.3%) PayPal Stock Drops. The Case For ‘Stepping Over to the Sidelines.’ (Barron’s)

CELH (+14.4%) Why Celsius Stock Soared 11.5% Today (Motley Fool)

TXG (-24.7%) 10x Genomics Crashes After 'Disruptive' Reorg Upsets Third-Quarter Sales (IBD)

Pfizer (-2.9%) Pfizer fight with Starboard heats up, hedge fund alleges executive pressure (Reuters)

GXO (+1%) Jefferies keeps GXO stock at Buy list amid potential sale talks (Investing.com)

OVERHEARD ON THE STREET

CNBC: United plans to expand flights to unique destinations like Mongolia, Greenland, and northern Spain, adding more transatlantic routes from Tokyo's Narita airport.

Axios: Exxon acquired over 271,000 acres in Texas state waters for CO2 storage, establishing the largest offshore site and advancing its Gulf Coast CCS infrastructure.

Reuters: GM Energy is launching the PowerBank home energy storage system for US EV owners, offering two battery capacities to enhance energy management.

Axios: Amazon will launch an automated micro-fulfillment center at a Pennsylvania Whole Foods, enabling grocery and household item pickups.

YF: Analysts anticipate Elon Musk to outline Tesla’s autonomous robotaxi vision at the "We, Robot" event, amid rumors of a DoorDash deal.

TOMORROW’S TRADE IDEA, TODAY

The New York Times Is Modernizing

Subscription Tailwinds

My mother, brother, sister, and cousin are all religious Connections players. Apparently, they’re not alone.

Deutsche Bank analyst Benjamin Soff rates the New York Times (NYT) a Buy with 19% upside, thanks in large part to its strong subscription business. The analyst also praised the iconic newspaper’s strategic journalism investments. 

Soff is a strong believer in the NYT’s “digital-first” subscription model. He believes it could hit 15 million subscribers by 2027, thanks to consistent user engagement and wide-ranging content. (Can’t forget about Tiles.)

Old Stock, New Tricks

The rise of the internet seemed to herald the death of print media, but the 173-year-old company has changed with the times. Soff highlighted the NYT’s ability to fully embrace new formats to help expand its audience, such as podcasts, videos, and, yes, mobile games. 

But the paper’s ability to modernize hasn’t come at the expense of its strong fundamentals, pricing power, and ad revenue, Soff says. Many news outlets have been struggling lately, but the analyst argues that these factors will allow the Times to stand out among its competition.

Newspaper of New Records?

At the end of last year, the New York Times sued OpenAI and Microsoft for allegedly using its articles without permission to train ChatGPT. That might read like an old man yelling at new tech to get off my lawn. But that’s far from the truth.

The company is expanding internal AI capabilities, which could lead to lucrative AI licensing agreements and partnerships — and, according to Soff, significant growth opportunities. The analyst believes it is well-positioned to utilize its content archive to capitalize on the generative AI market, which could result in double-digit operating profit growth. The stock is up over 16% YTD.

As the world rapidly changes, the same outlet that has reported on those changes for nearly two hundred years might just be poised to capitalize on them, too.

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ON OUR RADAR

CNBC: In 2025, over 72.5 million beneficiaries will receive a 2.5% Social Security increase, the lowest since 2021, averaging $50 monthly.

CNN: Many employers may soon cover weight-loss drugs like Wegovy, with open enrollment revealing new benefits this month.

USA Today: A study found California's $20 fast food minimum wage increased pay by 18% without causing significant job losses or price hikes.

CNN: Attochron's free-space optics technology uses lasers to deliver high-speed broadband to underserved areas, overcoming terrain and infrastructure challenges.

WSJ: Wealthy homeowners in high-altitude areas are increasingly investing $35,000 to $150,000 in oxygenation systems to combat altitude sickness and enhance comfort.

YESTERDAY’S POLL RESULTS

Are you bullish or bearish on Delta Air Lines (DAL) over the next 12 months?

🟩🟩🟩🟩🟩🟩 🐂 Bullish

🟨🟨🟨⬜️⬜️⬜️ 🐻 Bearish

Past performance is not indicative of future returns. Investment involves risk. See Important Reg A Disclosures at masterworks.com/cd. Past performance is not indicative of future returns. Investment involves risk. See Important Regulation A disclosures at masterworks.com/cd. The content is not intended to provide legal, tax, or investment advice. No money is being solicited or will be accepted until the offering statement for a particular offering has been qualified by the SEC. Offers may be revoked at any time. Contacting Masterworks involves no commitment or obligation. “Net Annualized Return” refers to the annualized internal rate of return net of all fees and expenses, calculated from the offering closing date to the date the sale is consummated. IRR may not be indicative of Masterworks paintings not yet sold and past performance is not indicative of future results. For additional information regarding the calculation of IRR for a particular investment in an artwork that has been sold, a reconciliation will be filed as an exhibit to Form 1-U and will be available on the SEC’s website. Masterworks has realized illustrative annualized net returns of 17.6% (1067 days held), 17.8% (672 days held), and 21.5% (638 days held) on 13 works held longer than one year (not inclusive of works held less than one year and unsold works). Contemporary art data based on repeat-sales index of historical Post-War & Contemporary Art market prices from 1995 to 2023, developed by Masterworks. There are significant limitations to comparative asset class data. Indices are unmanaged and a Masterworks investor cannot invest directly in an index.