Citi upgraded Nike (NKE) from "Neutral" to "Buy" and lifted its price target, citing margin recovery, innovation ahead of the 2024 Olympics and its China position. The move comes ahead of Nike's fiscal second quarter 2024 results, which will be released on Thursday, December 21 after the market close. Broadcom (AVGO) shares rose after Citi resumed coverage with a "Buy" rating. Broadcom's VMware deal and core strengths, plus AI opportunity, underpin Citi's bullish view. Broadcom has gained more than 80% year-to-date. RingCentral (RNG) CEO Tarek Robbiati resigned effective December 8th. Founder Vlad Shmunis returns as CEO, replacing Robbiati who assumed the role in late August after serving as CFO of Hewlett Packard Enterprise. Yahoo Finance's Julie Hyman and Josh Lipton break down the details of today's trending tickers. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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