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As the busy first-quarter earnings season moves along, several stocks still set to report could be due for big swings. First-quarter earnings have boosted stocks this week, as more than 77% of companies in the S & P 500 have exceeded analysts' expectations, according to FactSet. The S & P 500's year-over-year earnings growth for the first quarter is running at about 5.6%, according to Friday data from LSEG . The names on tap range from big-name AI plays Super Micro Computer and Amazon to health-care giants such as Moderna . Chipmakers Super Micro Computer and Advanced Micro Devices could also see some major moves this week, as they could rise or fall as much as 12.6% and 7.4%, respectively.
Persons: Curtis Nagle, Nagle, Samik Chatterjee, Goldman Sachs, Pinterest Organizations: Dow Jones, Computer, Moderna, CNBC Pro, Bank of America, TikTok, JPMorgan, Super Locations: chipmakers
Tesla — Shares of the electric vehicle manufacturer dropped more than 7% after it reported third-quarter earnings results that failed to impress investors. Zscaler — This cybersecurity company was also up nearly 2% in premarket trading, after Jefferies similarly upgraded it on Thursday, citing an improved growth outlook. First Solar — Shares added nearly 2% in premarket trading after JPMorgan upgraded the renewable energy company to overweight. Blackstone — The alternative asset manager fell 3% in premarket trading after Blackstone's third-quarter results came in below expectations. Las Vegas Sands — Shares popped more than 5% after Las Vegas Sands reported third-quarter revenue that topped expectations.
Persons: Goldman Sachs, Jefferies, Aptiv, Curtis Nagle, LSEG . Blackstone, Blackstone, Lam, FactSet, , Sarah Min, Jesse Pound, Samantha Subin Organizations: LSEG, Netflix, Goldman, JPMorgan, Bank of America, Wall Street, Vegas Sands, Lam Research Locations: LSEG, Vegas, Lam
(The new Buy Buy Baby will operate independently from Dream on Me.) What will the new Buy Buy Baby offer? A display of diaper bags at a Buy Buy Baby location in Brooklyn, New York in January 2023. In order to survive this time around, Buy Buy Baby will need to focus on offering a unique value proposition, said Saunders from GlobalData. "It's not only Buy Buy Baby that failed.
Persons: Patrick T, Harmon, Avish Dahiya, Dahiya, Jonah Raskas, Raskas, Overstock, Curtis Nagle, Neil Saunders, they've, Glen Cary, Cary, Melissa Gonzalez, that's, Gonzalez, there's, Gabrielle Fonrouge, Saunders, It's, There's, What's, David Abrams, Abrams Organizations: Fallon, Bloomberg, Getty, CNBC, Harmon, Bank of America, Target, Walmart, Lionesque, Bed Bath Locations: Los Angeles, U.S, New York , New Jersey, Pennsylvania, Bath, Brooklyn , New York, GlobalData, New York, New Jersey, Manhattan
Investors are hoping that next week's Federal Reserve meeting offers more clarity about the path interest rates could take. Rising interest rates squeeze consumers, while a cut to follow should help boost economic activity. These pricey purchases are often financed, and higher rates mean higher costs. "Even if the sticker price of the thing doesn't change, the interest rate still matters a lot for their monthly budget." The "brakes were hit very hard in 2022," largely due to higher rates on the new-home construction side, he said.
Persons: Christopher Herrington, Herrington, Kurt Yinger, It's, James Hardie, Yinger, There's, Rafe Jadrosich, Jadrosich, Seth Sigman, Bank of America's Curtis Nagle, Nagle, Loop's Anthony Chukumba, Garik Shmois, Shmois, Leslie's, Julien Dumoulin, Smith, SunRun, Corinne Blanchard, Citi's Pierre Lau, SolarEdge, Lau, John Bailer, Michael Bloom Organizations: Virginia Commonwealth University, Davidson, Companies, Bank of America, Fortune Brands, UFP Industries, Barclays, Bank of America's, Williams, Pool Corp, of America, FTC, Deutsche Bank, Shoals Technologies, Caterpillar, Cummins, Newton Investment Management Locations: Louisiana, Wall, Sonoma, California
High mortgage rates and home prices have put the housing market into a deep chill. A Bank of America analyst upgraded real estate stock Zillow from "underperform" to a "buy." A dark cloud is hovering over America's housing market with each week bringing signs of doom and gloom. The rosier view wasn't because of an imminent improvement in the housing market. That's hit Zillow — which earns most of its revenue from lead generation for real estate agents — squarely in the pocket.
BofA's Curtis Nagle breaks down under-the-radar housing plays
  + stars: | 2023-01-10 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBofA's Curtis Nagle breaks down under-the-radar housing playsCurtis Nagle, analyst at Bank of America Global Research, joins 'The Exchange' to discuss 2023 housing trends, top names for housing market plays, and indicators of home sale growth.
Zillow Group could be on the verge of a strong year, according to Bank of America. Shares of Zillow have underperformed the last two years, with the stock price roughly halving in 2022, and tumbling by 54% the prior year. What's more, the analyst said that several large initiatives could reaccelerate growth at Zillow. The analyst's $42 price target, up from $22, implies more than 20% upside for the stock. Shares were up more than 4% in Monday premarket trading.
RH 's acclerated share repurchases over the last few weeks is boosting Bank of America's confidence in the home furnishings retailer. Analyst Curtis Nagle reiterated his buy rating on the stock in a note to clients Wednesday, highlighting that the company repurchased nearly $400 million of its shares, the largest buyback since 2017. "We view the increased buybacks as a potential sign of increased confidence in the business by RH senior leadership," Nagle wrote. Shares of RH suffered in 2022, falling 50% as investors veered out of consumer discretionary stocks. Despite near-term headwinds, Nagle expects RH to experience double-digit sales growth and greater than $30 in earnings per share over the next two to three years.
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