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Bernd von Jutrczenka/picture alliance/Getty ImagesAs Russia's war in Ukraine nears its second anniversary, world leaders continue to urge for support and aid in Ukraine. “We have learned, unfortunately, over the two years, this is not only a war against Ukraine, it's a war against the European peace order. United Kingdom Prime Minister Rishi Sunak said the free world must renew its determination to stand behind Ukraine. “When Putin launched his illegal invasion two years ago, the free world was united in its response. And on this grim anniversary, we must renew our determination," Sunak said, according to a statement released late Friday.
Persons: Annalena Baerbock, Bernd von Jutrczenka, Vladimir, Putin, ” Baerbock, Baerbock, Rishi Sunak, , Sunak, Laurent Bili, , Justin Trudeau, Canada’s Organizations: United Nations Security, Ukraine, United Nations, United, Prime, European Union, NATO, Canadian Locations: Ukraine, New York, Here's, Europe, United States, it's, Kyiv, Trudeau, Canada, Russia
Jefferies upgrades Pinterest and Snap to buy from hold Jefferies sees growth upside in 2024 for both stocks. " Wolfe upgrades Ally Financial to outperform from peer perform Wolfe said in its upgrade of the financial company that it's well-positioned. "In an environment where the probability of a mild recession or soft landing both appear plausible, we believe ALLY is well positioned to outperform in either scenario and upgrade shares to Outperform." "We continue to believe that Salesforce is on track to become the next quality [growth at a reasonable price] stock." Goldman Sachs reiterates Snowflake as buy Goldman Sachs stood by its buy rating on Snowflake after earnings on Wednesday.
Persons: Berenberg, Eli Lilly, Lilly, Wells, BTIG, Jefferies, Bernstein, Burger, Wolfe, TD Cowen downgrades Okta, Cowen, Stifel, Raymond James, Morgan Stanley, Bilibili, BILI, Baird, Pat Shanahan, Wells Fargo, Salesforce, Goldman Sachs, Snowflake, DUK Organizations: pharma, Nvidia, NVIDIA, Jefferies, SNAP, BK, UBS, Service Corporation, Deutsche Bank, Lattice Semiconductor, Apple, JPMorgan, Nokia, Infineon, Watch, Hewlett Packard Enterprise, Barclays, GE Healthcare, Airbus, Bank of America, Duke Energy, HSBC, Molson Coors Locations: FTCH, North America, China
(Treasury yields tend to move inversely to stock prices; as yields fall investors seeking better returns move money back into the stock market). The chipmaker once again came into its quarterly print with super-high expectations on the Street, but once again exceeded them . For this reason, we put more emphasis on monthly economic releases, such as the aforementioned personal spending report. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Persons: Dow, Estee Lauder, Einstein, Jim Cramer's, Jim Cramer, Jim, Locker, Jeff Greenberg Organizations: Nasdaq, Federal Reserve, Treasury, Nvidia, Apple, TJX, Bank of Nova, Elbit Systems, Intuit, Hewlett Packard Enterprise, Hormel, Kroger, KR, Academy Sports, TD Bank, Royal Bank of Canada, Dell Technologies, Bank of Montreal, BMO, Jim Cramer's Charitable, CNBC, Universal, Getty Locations: Bank of Nova Scotia, AMBA
Here are Monday's biggest calls on Wall Street: KBW upgrades Bank of America to market perform from underperform KBW upgraded the banking giant with long-term rates declining. Bank of America downgrades Paramount to underperform from buy Bank of America said the backdrop is too challenging for the media stock. Bank of America reiterates Nvidia as buy Bank of America said it's bullish on the stock heading into earnings later this month. Goldman Sachs initiates Birkenstock as buy Goldman initiated the shoe company with a buy and said Birkenstock shares are compelling. Bank of America reiterates Apple as neutral Bank of America said it's sticking with its neutral rating on shares of Apple .
Persons: KBW, Mizuho, it's, BILI, Lee jeans, it's bullish, Goldman Sachs, Goldman, EBITDA, Raymond James downgrades Bloomin, Raymond James Organizations: Bank of America, Underperform, Corp, Deutsche Bank, Deutsche, Mizuho, TAM, UBS, Amazon, Citi, Disney, " Bank of America, Paramount, Barclays, Nvidia, AMD, Dominion, Biotech, JPMorgan, HSBC, RBC, Apple, of America Locations: China, FY24E, CLX, Russia, Ukraine
State of the consumer: Retail sales for July are out on Tuesday. Key retail earnings reports from Walmart (WMT), Target (TGT) and Tapestry (TPR) will also provide clues on the health of the consumer. Earnings : On Wednesday morning, we hear from Club holding TJX Companies (TJX). Prior retail sales data has shown monthly sales growth at clothing and clothing accessory stores accelerate throughout the quarter, rising 0.14% monthly in April, 0.3% in May and 0.6% in June. For those looking to review first-quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.
Persons: We'll, Estee Lauder, we've, Palo, Cardinal Health, JD.com, Brinker, BILL, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Dow Jones, Investors, Walmart, TJX Companies, Palo Alto Networks, Embraer, Energy, Getty, Sea Ltd, Cardinal, Nu Holdings, Housing, ZIM, Food, Colgate, Palmolive, Cisco Systems, Chemical & Mining, Keysight Technologies, Ross Stores, Deere & Company, Alto Networks, Jim Cramer's Charitable, CNBC Locations: China, Dole, DOLE, Manhattan, New York City
Children under eight would be able to use their phones for only 40 minutes a day, while those between eight and 16 would get an hour of screen time. “On the other hand, it’s easier for us parents to control our kids screen time,” she said. China has one of the world’s largest internet user bases, with roughly 1.07 billion people in the country of 1.4 billion having access to the web, according to the China Internet Network Information Center. The regulation could be useful to “help parents to supervise the children” and limit screen time. Impact on tech firmsThe new measures could present challenges for tech companies, which are typically held responsible for enforcing regulations.
Persons: , , Kuaishou Organizations: Hong Kong CNN, Cyberspace Administration, , Mobile, CNN, China Internet Network Information, Apple, Huawei Locations: Hong Kong, China, Beijing, China’s Zhejiang, China’s Zhuhai, Weibo, lockstep
China's live streaming sector could return to growth this year after losing 2% in 2022, and shares of Hello Group can capitalize on that trend, according to JPMorgan. MOMO YTD mountain MOMO was a standout among US traded Chinese stocks for JPMorgan, and the company could return to positive revenue growth in 2023. Hello Group isn't the only company that will benefit from a rebound in live streaming in China. Some of the firm's other top picks in the Chinese live streaming space include Kuaishou , Bilibili , Tencent Music Entertainment , and Joyy . "We are positive on the strong growth outlook for its various business segments (ads, eCommerce, live streaming) and expect it to achieve full-year profitability in 2023," Chen said.
Hong Kong CNN —China has approved 27 foreign video games, including titles to be released by Tencent, NetEase and Bilibili, as it gradually reopens the world’s largest mobile entertainment market to international titles. It was the second batch of foreign games to be allowed to enter the Chinese market since December. Bilibili (BILI) will publish the localized version of “Uma Musume: Pretty Derby,” a hugely popular franchise from Japan’s Cygames. “We believe this implies a more supportive regulatory policy towards foreign titles that further support a healthier and normalized development of online gaming industry going forward,” said Citi analysts on Tuesday. But foreign games were still unable to access the Chinese market until December, when the regulator finally approved 45 foreign titles, including “Pokémon Unite” by Nintendo and “Valorant” by Riot Games.
Silvergate Capital (SI) – The digital assets bank's shares fell another 2.4% in the premarket, extending yesterday's 11.1% loss. Chemours (CC) – Chemours tumbled 6.1% in premarket trading after the chemical maker said its full-year earnings were tracking slightly below the low end of its prior guidance range. United Parcel Service (UPS) – UPS gained 1.4% in the premarket after Deutsche Bank upgraded the delivery service's stock to "buy" from "hold." HSBC (HSBC) – HSBC struck a deal to sell its Canadian unit to the Royal Bank of Canada for $10.1 billion in cash. Roku (ROKU) – Roku shares fell 2.9% in premarket action after KeyBanc downgraded the video streaming device company's stock to "sector weight" from "overweight," saying several facets of its bullish thesis on Roku failed to play out.
Stocks finished higher on this holiday-shortened trading week, with all the major U.S. averages posting gains. Under the hood, all sectors closed higher for the week, led by utilities, materials and financials. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. The U.S. Federal Reserve, alongside global central banks, has been trying to get a handle on soaring inflation.
Check out the companies making headlines before the bell:DraftKings (DKNG) – DraftKings fell 12.5% in premarket trading despite reporting a smaller-than-expected quarterly loss and revenue that topped Wall Street forecasts. Hershey (HSY) – Hershey rose 1% in the premarket after quarterly results beat estimates and the candy and chocolate maker raised its sales and profit outlook. PayPal (PYPL) – PayPal shares slid 6.9% in the premarket despite better-than-expected quarterly profit and revenue for the payment service operator. Block (SQ) – Block shares surged 14% in premarket action after it reported quarterly revenue and profit that beat Wall Street forecasts. Carvana (CVNA) – Carvana slid 7.4% in premarket trading after the used-car retailer reported worse-than-expected quarterly results.
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