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☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Rivian, Amazon, Netflix, Ford, Rocket Lab & more
▼ + stars: | 2024-01-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Wednesday's biggest calls on Wall Street: Citi reiterates Apple as buy Citi said it's standing by its top pick status on Apple shares. UBS downgrades Ford to neutral from buy UBS said it sees limited upside to estimates. TD Cowen downgrades Fisker to market perform from outperform TD said it sees too many growing pains for Fisker. KeyBanc initiates Rocket Lab as overweight Key said it sees upside for the rocket satellite company. "We initiate coverage on Rocket Lab USA (NASDAQ: RKLB) with an Overweight rating and $8 price target, reflecting ~50% upside."

Persons: Jefferies, Tesla, Elon, Ford, TD Cowen downgrades Fisker, JPMorgan downgrades Morgan Stanley, Morgan Stanley, it's, Christine Barone, Goldman Sachs, Goldman, Davidson downgrades Teladoc, Key, Evercore, Wolfe, Piper Sandler, TGT, BURL, SolarEdge, Mizuho, William Blair, it's bullish Organizations: Citi, Apple, Huawei, UBS, JPMorgan, Bank of America, Bros, Rocket Lab, Lithia, Dealers, Susquehanna, JetBlue Spirit, Deutsche Bank, Deutsche, EV, CART, Target, Barclays, Boeing, Airbus, Mizuho, Amazon, " Bank of America, Netflix Locations: China, 2Q24, 3Q24, Burlington

☆ Leon Cooperman says it's a stock picker's market. Here are his new favorite bets
▼ + stars: | 2023-11-21 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Billionaire investor Leon Cooperman thinks that it's a stock picker's market and only individual names will offer value for investors as the overall market struggles. Cooperman became overweight the energy sector about two years ago when the group was still unloved. On the broader market, Cooperman recently said investors might not see a new high for a long time, partly because of the risk of a fiscal crisis. "Ultimately, we will have a crisis in public sector finance, and the market is not discounting a crisis. He said he would be very surprised if the S & P 500 climbs above 4,600 anytime this year.

Persons: Leon Cooperman, Cooperman Organizations: Omega Advisors, Devon Energy, Ashland Global Holdings, Cooper Group, Lithia Motors, Apollo Global Management

Amazon next year will allow auto dealers to sell cars through its site, starting with South Korean automaker Hyundai, the company said Thursday. Beginning in 2024, Amazon will let shoppers purchase a new car online, then pick it up or have it delivered by their local dealership. Amazon CEO Andy Jassy said the partnership with Hyundai will change "the ease with which customers can buy vehicles online." Shares of used car dealers such as Carmax and Carvana as well as the country's largest publicly traded new car dealers Lithia Motors and AutoNation fell following the announcement. Tesla and other electric vehicle startups such as Rivian have developed workarounds in many states to sell vehicles directly online to consumers.

Persons: Andy Jassy, Alexa, AutoNation Organizations: Amazon, South, Hyundai, Consumers, Lithia Motors, CNBC PRO Locations: Amazon, Michigan

☆ This market is actually quite resilient, says Lithia & Driveway CEO Bryan DeBoer
▼ + stars: | 2023-10-25 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

This market is actually quite resilient, says Lithia & Driveway CEO Bryan DeBoerLithia & Driveway CEO Bryan DeBoer talks the state of the auto market, vehicle inventory, quarterly results and more.

Persons: Bryan DeBoer

Sept 23 (Reuters) - U.S. auto workers expanded their strike on Friday with a clear target for distress: dealers who sell and service GM and Stellantis vehicles. The strategy of choking parts delivery increases problems for some dealers who say it already had been difficult to source some components. The broader strike, which targets 38 parts distribution centers owned by GM and Stellantis, "is going to have these shops telling their customers 'We don't know when we can fix your vehicle. "It's definitely going to impact customers," said Thomas Morris, 60, who went on strike on Friday at a General Motors parts distribution center in the suburbs of Philadelphia. The center serves GM dealerships from Pennsylvania to Maine, moving some 30,000 parts for auto repairs each day, workers said.

Persons: Richard Fasulo, Howard Drake, Mike Stanton, It's, Thomas Morris, Stellantis, Arthur Wheaton, Brad Sowers, Jim Butler, he'll, Abhirup Roy, Doyinsola, Jarrett Renshaw, Peter Henderson Organizations: Cadillac, GM, National Association of Auto Dealers, UAW, Motors, Cornell's School of Industrial and Labor Relations, Jim Butler Auto Group, Chevrolet, Thomson Locations: Wappinger , New York, California, Philadelphia, Pennsylvania, Maine, St.Louis , Missouri, San Francisco, New York, Pennyslvania

☆ Potential UAW strike could cut production, push up vehicle prices, analysts say
▼ + stars: | 2023-09-11 | by ( Priyamvada C | ) www.reuters.com time to read: +3 min

Sept 11 (Reuters) - A prolonged coordinated strike by the United Auto Workers (UAW) union against the Detroit Three automakers could cut production by thousands, potentially pushing up vehicle prices and exacerbating supply-chain disruptions, analysts said. New vehicle prices may rise by less than 2% if the strike lasts about two weeks, according to automotive consulting firm J.D. That would mean an end to the trend of cooling vehicle prices in recent months, at a time when inflation continues to pinch U.S. consumers. However, UAW president Shawn Fain rejected the idea that worker wages were responsible for auto prices going up in the last few years. In a video released on Thursday titled "Here's what the Big Three and the corporate media's NOT telling you about car prices," Fain said "corporate greed" was responsible for rising car prices.

Persons: Tyson Jominy, Jominy, Garrett Nelson, J.P, Morgan, Jimmy Bhullar, Jim, Farley, Mary, Barra, Dan Ives, Tesla, Bryan DeBoer, Shawn Fain, Fain, Priyamvada C, Nathan Gomes, Abhijith, Anil D'Silva Organizations: United Auto Workers, UAW, Detroit Three, General Motors, Ford Motor, Toyota, Honda, Volkswagen, Deutsche Bank, GM, Ford, Lithia Motors, Thomson Locations: ., U.S, Bengaluru

☆ Across rural America, data center development booms as investors race to cater to artificial intelligence
▼ + stars: | 2023-07-21 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +10 min

Data center development is booming and AI is expected to stoke already growing demand. Demand is sapping power grids in major markets and pushing data center development across the US. The project's neighbors include Google, Meta, Microsoft, and Amazon – all of whom have similar plans, or are already underway with major data center projects. The message came after a torrid period of growth by the data center industry in that region. Wes Swenson, Nova's CEO, said the Reno region was becoming increasingly popular for data center development because of its access to power.

Persons: Matt McCollister, Martin Peck, Lincoln Rackhouse, Peck, Blackstone, Jonathan Gray, Drew Angerer, Bard, Gray, Pat Lynch, Robbie Sovie, Sovie, Georgia Power, Skybox, Rob Morris, Morris, George Frey, Novva, Wes Swenson, Nova's, Swenson, CBRE, Lynch Organizations: stoke, Lincoln Property Company, Harrison Street, Google, Meta, Microsoft, Amazon, Lincoln, Carrier, QTS, Dominion Energy, Dominion, Washington DC, APS, QuadReal, Georgia, Reuters, Data Centers, CIM Group Locations: Ohio, New Albany, Columbus, Northern Virginia, Dallas, Phoenix, Silicon Valley, Chicago, Virginia, Loudoun County, Washington, Arizona, Southwest, Lithia Springs , Georgia, Atlanta, Vancouver, Hutto , Texas, Austin, Eagle Mountain , Utah, Reno , Nevada, Storey County, Reno, Silicon, Salt Lake City, West Jordan , Utah, CBRE

☆ Auto-Parts Growth Story Still Adds Up
▼ + stars: | 2023-04-27 | by ( Jinjoo Lee | ) www.wsj.com time to read: +1 min

O’Reilly Automotive said in earnings results released late Wednesday that comparable-store sales rose 10.8% in the first quarter. Same-store sales growth has turned negative recently at auto-dealer chains such as Lithia Motors and AutoNation , as well as used-car retailer CarMax . O’Reilly Automotive , the largest auto-parts retailer by market cap, said in earnings results released late Wednesday that comparable-store sales rose 10.8% in the first quarter, well outpacing the 6.8% pace Wall Street analysts polled by Visible Alpha expected. That makes it the 12th consecutive quarter of year-over-year comparable-store sales growth. Analysts expect AutoZone , the largest auto-parts retailer by revenue, to see U.S. same-store sales grow 4.3% in its quarter ending May.

☆ Auto Dealers Feel the Squeeze
▼ + stars: | 2023-04-20 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

Yet auto makers aren’t offering enough incentives to move vehicles off the lots, either. AutoNation said on Thursday that on a same-store basis, it sold 2.8% fewer new vehicles and 17.5% fewer used cars on a same-store basis. Lithia Motors on Wednesday said it sold 6.3% fewer new vehicles and 2.4% fewer used vehicles over the same period. Cars are sitting on lots for longer as a result: Lithia said there were about 52 days of supply of new vehicles in the first quarter, up from 47 days a quarter earlier. AutoNation is carrying 25 days’ worth of new vehicle supply, up from 19 days from the prior quarter.

☆ AutoNation quarterly revenue skids on cooling used-vehicle demand
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

April 20 (Reuters) - Auto retailer AutoNation Inc (AN.N) on Thursday missed Wall Street estimates for first-quarter revenue as higher new vehicle and after-sales demand was offset by weakness in used vehicle and customer financial service businesses. Rival Lithia Motors, which last year became the largest U.S. auto dealer group by sales volume, also fell short of Wall Street estimates earlier in the week. Sales at the AutoNation unit that sells new vehicles rose to $2.93 billion from $2.81 billion a year earlier. Used vehicle revenue decreased 21%. Total sales, however, fell to about $6.4 billion, compared with Refinitiv estimates of $6.63 billion.

☆ The Fed needs two industries to suffer in order to beat inflation, Jim Cramer says
▼ + stars: | 2023-04-11 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

It's going to be tough for the Federal Reserve to beat inflation without declines in the auto and housing industries, CNBC's Jim Cramer said on Tuesday. When the Fed raises interest rates, investors typically expect the housing, auto and retail industries to suffer. "You want to break the back of inflation, you need to break the back of the auto and housing industries," Cramer said. Cramer said without significant layoffs from more industries, the same cycle will continue, with marginal institutions staying afloat, partially due to strength in the stock market. If the Fed is going to defeat inflation, it needs to see some marginal businesses go under, he said.

☆ U.S. auto dealer profits ease from 2022 peak, M&A drive stays high - report
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

In 2022, profits reached an estimated $6.5 million per location for dealerships owned by public auto retailers, more than triple of pre-pandemic levels, according to the report from Haig Partners, a buy-sell advisory firm to auto dealers. But dealers still expect profits to remain over twice as high as 2019, powering demand for acquisitions in the drive to expand, the report said. "The result of high profits and strong demand is that we have seen record-high prices being paid for dealerships in the last six months," Haig said. To hit those targets, the three auto dealers would together need $48.7 billion in revenue and purchases of nearly 500 dealerships, the report said. The Haig Report tracks trends in auto retail.

☆ Auto Dealers See Mixed Signals
▼ + stars: | 2023-02-17 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

In their path to profit growth, auto dealers sped through a lot of green lights during the pandemic. This year, though, the signals are looking rather mixed. Auto dealer giant AutoNation said on its earnings call Friday that its same-store revenue rose 1.2% in the fourth quarter compared with a year earlier. Net income declined 26%. Lithia Motors said on Wednesday that same-store sales increased 0.8%, while net income declined 15%.

☆ Investors need to embrace these stocks that we love
▼ + stars: | 2023-02-12 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

I’ve typically done this stock picking feature in early to mid February as a Stocks We Love type of story, pegging it to Valentine’s Day. The restaurant stocks in particular could do well. Inflation is obviously still a concern for big consumer brands. Consumer prices rose 6.5% over the past 12 months through December, down from a 7.1% pace in November. Up nextMonday: Earnings from TreeHouse Foods (THS), Avis Budget (CAR), FirstEnergy (FE), IAC (IAC) and PalantirTuesday: US CPI; Japan GDP; UK employment report; earnings from Coca-Cola, Asahi Group, Marriott (MAR).

☆ Key inflation data in the week ahead will offer clues to future Fed rate moves and the market's path
▼ + stars: | 2023-02-11 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Looking forward The January consumer price index (CPI) , which calculates the average change over time in prices that shoppers pay for goods and services, is slated for Tuesday. Economists and investors will use the number to gauge the odds of a soft landing or hard landing for the economy. The producer price index (PPI) for January, which calculates the change in selling prices received by producers of goods and services, is out on Thursday. 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.

☆ Wall Street's favorite retail stocks include Amazon and this little-known shoe company
▼ + stars: | 2023-01-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Surging inflation, inventory gluts and fears of slowing consumer spending battered some popular retail stocks in 2022, but analysts think some of these names are poised for a rebound in the new year. The SPDR S & P Retail ETF (XRT) , which tracks the sector, plummeted 33% as companies grappled with this difficult macro environment and fears of a slowdown in spending on discretionary goods. A slew of little-known retail stocks dominated the list, including Shoe Carnival , a footwear company with a unanimous buy rating on Wall Street and the largest upside potential of the group. The owner of The Vitamin Shoppe shed 54% in 2022, but analysts expect good times ahead for the stock. Eighty-percent of analysts say shares are a buy, with the consensus price target implying 33% upside from Thursday's close.

☆ These are analysts’ favorite value stocks heading into 2023, including one name expected to double
▼ + stars: | 2022-12-18 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

The IWF , its growth counterpart, has dropped 28% in that time, while the S & P 500 has fallen nearly 20%. This would mark the first time since 2016 that the IWD outpaces both the S & P 500 and IWF since 2016. The stock is trading at a slight discount relative to the S & P 500 and has buy ratings from three-quarters of analysts covering it. Mattel also made the list, with a price-to-earnings ratio of 10 and buy ratings from 73% of analysts. The stock is one the best performers in the S & P 500 for 2022, gaining more than 70% as investors have piled into the energy sector this year.

☆ Analysts love these retail stocks as the holiday season ramps up
▼ + stars: | 2022-11-27 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

However, investors have gotten a mixed picture of the retail landscape from company earnings, U.S. retail sales figures , consumer sentiment data and the still-high inflation that continues to plague shoppers. Using data from FactSet, CNBC Pro screened for retail stocks that may offer some certainty for investors. Auto retailer Lithia Motors is also on the list, with potential upside to the average price target of 36.3%. He reiterated the firm's outperform rating and raised his price target on the shares. The stock price has risen this year, by 17%.

☆ Here's why the Fed may have won already but is still acting like nothing has improved
▼ + stars: | 2022-11-20 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

We can bet that they will be one-upping each other about how high they want to take fed funds, the overnight bank lending rate. They seem to want to ignore anything that's succeeded since the Fed's rate increase cycle began back in March. I think that, again, if the Fed were to wait through Christmas they would see the layoffs and the corporate failures. One thing that's for certain, the buyers of the 2-year may be more sensitive to the data than the Fed. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Baupost’s Seth Klarman slashes Amazon and Alphabet stakes, picks up a car dealership stock
▼ + stars: | 2022-11-15 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Baupost's Seth Klarman cut his holdings in Amazon and Google-parent Alphabet dramatically last quarter, while picking up a few stocks in the volatile market, a new filing showed. The longtime value investor reduced his stakes in Alphabet and Amazon by nearly 60% each, according to Baupost's latest 13F filing with the Securities and Exchange Commission. Klarman also exited his position in Intel last quarter. Alphabet and Intel had been among Baupost's top 10 holdings at the end of the second quarter. Technology stocks have borne the brunt of this year's market sell-off as rising rates dented the appeal of growth-oriented names.

☆ Carvana stock on pace for worst day ever as outlook darkens for used vehicle market
▼ + stars: | 2022-11-04 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Shares of the online used car retailer have plummeted by more than 95% this year, after hitting an all-time intraday high of $376.83 per share on Aug. 10, 2021. Analyst Adam Jonas cited deterioration in the used car market and a volatile funding environment for the change. Pricing and profits of used vehicles have been significantly elevated as consumers who couldn't find or afford to purchase a new vehicle opted for a pre-owned car or truck. But rising interest rates, inflation and recessionary fears have led to less willingness by consumers to pay the record prices, leading to declines for Carvana and other used vehicle companies such as CarMax . Large franchised new and used vehicle dealers such as Lithia Motors and AutoNation warned of softening in the used vehicle market when recently reporting their third-quarter results.

☆ Leon Cooperman still sees a recession coming, but he is finding stocks to buy
▼ + stars: | 2022-11-01 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

I find many things to do but I really don't like the S & P that much," Cooperman said. The S & P 500 rallied 8% in October. The widely followed investor said the S & P 500 could tumble to the low 3000s some time next year. The S & P 500 energy sector is the only grouping in the green this year, rallying more than 60%. Cooperman revealed that he owns Canadian oil and gas producer Paramount Resources, and he is not selling energy stocks despite the big runup.

☆ Wall Street eyes auto industry earnings for signs of 'demand destruction'
▼ + stars: | 2022-10-19 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

But with interest rates rising, inflation at record highs and recession fears looming, Wall Street is closely watching third-quarter earnings results and guidance for any signs consumer demand might be weakening. Spak said third-quarter earnings "should mostly be fine," with the focus being on company commentary and guidance revisions. DealersCarMax fueled Wall Street's concerns last month after the used car dealer posted one of its biggest earnings misses ever. Citing CarMax's results, J.P. Morgan analyst Rajat Gupta said the sentiment for franchised dealers' third-quarter earnings "is the most negative we have encountered since the pandemic." Other major dealers scheduled to report third-quarter earnings include Group 1 Automotive on Oct. 26, followed by AutoNation , Asbury Automotive Group and Sonic Automotive on Oct. 27.

☆ These companies are reporting earnings this week, and analysts love them
▼ + stars: | 2022-10-16 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

As investors come up on a stacked week for earnings, CNBC Pro identified several companies that are beloved by Wall Street and will be reporting results. Roughly 15% of companies in the S & P 500 are expected to report earnings for the week ended Oct. 21, according to a note this month from Goldman Sachs. These names have buy ratings from more than 70% of analysts covering the stock, with upside to their average price target of at least 20%. Prologis is beloved by roughly 75% of analysts, who say the real estate investment trust can jump nearly 47% to its average price target. Prologis will report earnings Wednesday.

☆ CarMax results fall short as inflation-hit buyers rethink purchases
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +2 min

Sept 29 (Reuters) - Shares of CarMax Inc (KMX.N) fell 20% in premarket trading on Thursday after the top U.S. used-car retailer's second-quarter results were slammed by the impact of rising inflation on consumer spending. Strong demand for personal transport has led to steady sales of both new and used cars in the United States so far, but rising interest rates and higher car prices are starting to upend that trend. Register now for FREE unlimited access to Reuters.com RegisterAuto research firm Cox Automotive, which tracks U.S. vehicle market trends, on Wednesday cut its forecast for new and used vehicle sales on worsening consumer sentiment. Consumers are pulling themselves out of the purchase process as rising interest rates and high vehicle prices make monthly payments unaffordable, said Cox Automotive Chief Economist Jonathan Smoke. Ford Motor Co's (F.N) shares tumbled last week after the automaker said it was experiencing higher inflationary pressures.

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