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☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Target, Gap, Nike, Palantir, Goldman Sachs & more
▼ + stars: | 2024-05-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

Goldman Sachs reiterates Nvidia as buy Goldman said it sees a "favorable" risk/reward for shares of Nvidia. Goldman Sachs reiterates ServiceNow as buy Goldman said it's standing by its buy rating on the stock following its financial analyst day. Bank of America reiterates Palantir as buy Bank of America said it's sticking with its buy rating after the company released earnings on Monday. Wells Fargo reiterates Goldman Sachs as overweight Wells increased its price target on Goldman to $504 per share from $450. price target."

Persons: TGT, Goldman Sachs, Goldman, ServiceNow, Wells, Palantir, Wolfe, TD Cowen, Ares, Cowen Organizations: Citi, Target, Nvidia, UBS, Vale, Bank of America, Apple, UL, tailwinds, Artificial Intelligence, Nike, Cameco, Nike Inc, Barclays, CVS Locations: Las Vegas

Birkenstock would end up raising $1.58 billion at the top of the range. While shares of Arm and Klaviyo still trade above their IPO price, Instacart's stock is now worth less than its IPO value. This helps explain why Birkenstock is not inclined to raise its IPO price range despite the strong initial investor demand. To leave less to chance, Birkenstock launched the roadshow for its IPO last week with some investors lined up. Birkenstock was founded in 1774 in the German village of Langen-Bergheim by Johannes Birkenstock and his younger brother Johann Adam Birkenstock, who were both shoemakers.

Persons: Birkenstock, Financière Agache, Johannes Birkenstock, Johann Adam Birkenstock, Barbie, Margot Robbie, Bernard Arnault, Louis Vuitton Moet Hennessy, Anirban Sen, Chris Reese Organizations: Birkenstock Holding, U.S, Arm Holdings, Nike Inc, Partners, Norges Bank Investment Management, Thomson Locations: New York, Langen, French, Birkenstock

Former attorney Michael Avenatti exits after the guilty verdict in his criminal trial, at the United States Courthouse in the Manhattan borough of New York City, U.S., February 4, 2022. REUTERS/Brendan McDermid Acquire Licensing RightsCompanies Nike Inc FollowNEW YORK, Aug 30 (Reuters) - A federal appeals court on Wednesday refused to overturn Michael Avenatti's conviction for extorting Nike (NKE.N), setting back the disgraced celebrity lawyer's effort to shorten his potential 19-year stay in prison. Avenatti, 52, gained fame in 2018 while representing porn actress Stormy Daniels in litigation against then-U.S. President Donald Trump. A federal public defender representing Avenatti did not immediately respond to requests for comment. Circuit Court of Appeals, No.

Persons: Michael Avenatti, Brendan McDermid, Michael Avenatti's, Avenatti's, Stormy Daniels, Donald Trump, Avenatti, Gary Franklin, Franklin, Reena Raggi, Daniels, Jonathan Stempel Organizations: United, Courthouse, REUTERS, Nike, U.S, Circuit, Prosecutors, Avenatti, Thomson Locations: Manhattan, New York City, U.S, New York

☆ Cybersecurity 'still number one on the agenda in boardrooms,' Cramer says as Palo Alto reports
▼ + stars: | 2023-08-17 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Palo Alto Networks is set to release earnings for its fiscal fourth quarter on Friday after the closing bell. The firm predicted Palo Alto could reach a valuation of $100 billion over the next few years, a sizeable upside from its current $65 billion market capitalization. Palo Alto's edge Palo Alto has a track record of overcoming market headwinds in the long term. In a saturated cybersecurity market, Palo Alto is the "only real soup-to-nuts cyber play ," Jim said recently, allowing it to dominate the field. Signage outside Palo Alto Networks headquarters in Santa Clara, California, U.S., on Thursday, May 13, 2021.

Persons: Palo, Jim Cramer, Wolfe, Nikesh Arora's, That's, Tenable, Jim, Jim Cramer's, David Paul Morris Organizations: Palo Alto Networks, Alto Networks, Palo Alto, Barclays, RBC Capital Markets, Nike Inc, Wolfe Research, Palo, CNBC, Bloomberg, Getty Locations: Palo Alto, Palo, PANW, Santa Clara , California, U.S

It helped that Treasury yields fell in response to cooling inflation, said Burns McKinney, portfolio manager at NFJ Investment Group in Dallas, Texas. The Fed might have a better-than-we-thought shot of threading the needle and cooling inflation without killing the economy in the process," said McKinney. The Nasdaq 100 index (.NDX) of top technology stocks boasted its biggest first half gain on record, adding around 39%. For the week, the S&P 500 added 2.35% while the Nasdaq added 2.20% and the Dow climbed 2.02%. For the quarter, the S&P 500 added 8.3% while the Nasdaq climbed 12.8% and the Dow rose 3.4%.

Persons: Burns McKinney, McKinney, Brendan McDermid, Dow, Russell, Hawkish, Jerome Powell, Jefferies, Sinéad Carew, Sruthi Shankar, Johann M Cherian, Shashwat Chauhan, Shinjini Ganguli, David Gregorio Our Organizations: Apple, Nasdaq, Dow, Apple Inc, Investors, Federal Reserve, Commerce Department, April's, NFJ Investment, Dow Jones, Reuters Graphics Traders, New York Stock Exchange, REUTERS, Microsoft, Nvidia, Nike Inc, Carnival Corp, Thomson Locations: Dallas , Texas, New York City, U.S, New York, Bengaluru

Investors perked up on signs of cooling U.S. inflation from measures that are closely watched by the Federal Reserve. Excluding volatile food and energy, the core PCE index gained 0.3%, down from 0.4% in the previous month. It helped that Treasury yields fell in response to cooling inflation, said Burns McKinney, portfolio manager at NFJ Investment Group in Dallas, Texas. The Fed might have a better-than-we-thought shot of threading the needle and cooling inflation without killing the economy in the process," said McKinney. The CBOE Market Volatility Index (.VIX), Wall Street's fear gauge, earlier slipped to a one-week low at 12.96 points.

Persons: Apple, Burns McKinney, McKinney, Russell, Hawkish, Jerome Powell, Jefferies, Sinéad Carew, Sruthi Shankar, Johann M Cherian, Shashwat Chauhan, Shinjini Ganguli, David Gregorio Our Organizations: Nasdaq, Apple Inc, Investors, Federal Reserve, Commerce Department, April's, NFJ Investment, Dow Jones, Reuters, Microsoft, Nvidia, Nike Inc, Carnival Corp, Thomson Locations: Dallas , Texas, U.S, New York, Bengaluru

☆ Futures rise ahead of inflation data
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Nike slides after downbeat Q1 sales outlookApple up as Citigroup starts coverage with "buy"May PCE data due at 8:30 a.m. "The backdrop for equities is still no recession, inflation is sticky and financial conditions are still loose. "Key risks ahead for U.S. equities remain potential expanded export controls on AI chips and the upcoming Q2 earnings season." The Fed's preferred inflation gauge, the Personal Consumption Expenditure index (PCE) for May, will be released at 8:30 a.m. Adobe (ADBE.O) slipped 0.8% after UK's competition regulator ordered a second round of review of its deal to buy Figma.

Persons: Jerome Powell, Peter Garnry, Jefferies, Sruthi Shankar, Johann M, Shinjini Organizations: Nike, Apple, Citigroup, Dow, Federal Reserve, Saxo Bank, Nasdaq, Reuters, Traders, Dow e, Nike Inc, Apple Inc, Carnival Corp, Thomson Locations: U.S, North America, Bengaluru

Helped by gains in Apple, technology stocks (.SPLRCT) rose 1.6% and led advance among the 11 major S&P 500 sectors. Excluding the volatile food and energy components, the PCE price index gained 0.3%, down from 0.4% in the previous month. Despite a recent streak of losses, the three main U.S. indexes were on course to end June and the second quarter on a high note as investors expect the Fed's aggressive tightening will not derail the U.S. economy. The CBOE Market Volatility Index (.VIX), Wall Street's fear gauge, slipped to a one-week low at 13.48 points. The S&P index recorded 67 new 52-week highs and no new lows, while the Nasdaq recorded 76 new highs and 24 new lows.

Persons: we're, Peter Andersen, Jerome Powell, Jefferies, Sruthi Shankar, Johann M Cherian, Shashwat Chauhan, Shinjini Organizations: Nike, Apple, Dow, Nasdaq, Apple Inc, Commerce Department, Andersen Capital Management, Traders, Dow Jones, Treasury, Nike Inc, Carnival Corp, NYSE, Thomson Locations: Boston, U.S, Bengaluru

In North America, the company's biggest market, still-high inflation has led to consumers buying essential goods and reducing discretionary spending. Sales rose 5% in the region in the fourth quarter, the slowest in four quarters as U.S. wholesalers became more prudent in placing newer orders. Peer Under Armour (UAA.N) forecast annual sales and profit below Wall Street estimates in May due to waning demand and higher discounts. The company expects full-year reported revenue to rise mid-single-digits, compared with analysts expectations of a revenue of a 6.3% rise. The company's fourth-quarter revenue rose to $12.83 billion and beat estimates of $12.59 billion, while earnings per share of 66 cents missed estimates by 1 cent.

Persons: Florence, John Donahoe, Armour, Jane Hali, Jessica Ramirez, Granth Vanaik, Ananya Mariam Rajesh, Sriraj Organizations: Nike Inc, REUTERS, Nike, Wall, Associates, Reuters, Thomson Locations: Beijing, China, North America, Europe, Middle East, Africa, Jessica Ramirez . Greater China, Bengaluru

☆ Lululemon shares surge as consumers snap up pricier athletic wear
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +2 min

Lululemon's first-quarter results also moved past estimates as the company saw traffic across both its stores and online up about 30%. The company also reported a 79% rise in sales in China, bolstered by the rollback of COVID restrictions. The company's strong results also lifted shares of other athletic wear makers including Nike Inc (NKE.N) and Athleta owner Gap Inc (GPS.N) by 3% and 1%, respectively, in premarket trading. "We continue to believe that Lululemon is best positioned in a consumer slowing cycle," said Adrienne Yih, analyst at Barclays. Reporting by Savyata Mishra and Aishwarya Venugopal in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Piper Sandler, Abbie Zvejnieks, Lululemon's, Cowen, Adrienne Yih, Savyata Mishra, Aishwarya Venugopal, Krishna Chandra Organizations: Barclays, Nike Inc, Gap Inc, Adidas, Puma, Thomson Locations: China, U.S, Bengaluru

The Senate passed a bill late on Thursday to lift the government's $31.4 trillion debt ceiling, avoiding a catastrophic, first-ever default. The Labor Department's closely watched employment report, due 0830 ET, is expected to still show a tight labor market. Fed funds futures trading showed an over 70% probability that the Fed will hold interest rates steady at its June 13-14 policy meeting. ET, Dow e-minis were up 185 points, or 0.56%, S&P 500 e-minis were up 21.25 points, or 0.5%, and Nasdaq 100 e-minis were up 63 points, or 0.44%. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Nivedita Bhattacharjee and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: FEDWATCH, Russ Mould, AJ Bell, Germany's, Shreyashi Sanyal, Nivedita Bhattacharjee, Maju Samuel Organizations: Nike, Broadcom, Dow, Nasdaq, Federal, Fed, Labor, FEDWATCH Reuters, Dow e, Microsoft Corp, Apple Inc, Tesla Inc, Athletica, Dow Jones, Nike Inc, Germany's Adidas, Puma, Broadcom Inc, Nvidia Corp, Nvidia, Thomson Locations: Washington, United States, Europe, Bengaluru

☆ Wall St slips on debt ceiling uncertainty
▼ + stars: | 2023-05-20 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

Stocks had rallied over the past two sessions on growing confidence a deal to raise the $31.4 trillion debt limit could be reached in coming days, with the benchmark S&P 500 (.SPX) climbing more than 2%. For the week, the Dow gained 0.38%, the S&P 500 climbed 1.65% and the Nasdaq advanced 3.04%. The S&P 500 and Nasdaq notched their biggest weekly percentage gains since the final week of March. [1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 14, 2023. The S&P 500 posted 28 new 52-week highs and three new lows; the Nasdaq Composite recorded 79 new highs and 87 new lows.

☆ Foot Locker slumps as weak demand, heavy discounts drive annual outlook cut
▼ + stars: | 2023-05-19 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

May 19 (Reuters) - Foot Locker Inc's (FL.N) shares closed down 27% on Friday as the footwear retailer cut its annual sales and profit forecasts amid a sharp drop in demand and a hit from heavy discounts aimed at clearing excess inventories. The company also missed analysts' estimates for first-quarter results and named former Kohl's Corp (KSS.N) executive Mike Baughn as its new finance chief, effective June 12. Foot Locker doubled down on discounts to drive demand, which coupled with an increase in theft-related inventory losses led to a 400-basis point hit to the company's quarterly gross margins. Foot Locker now expects full-year comparable sales to fall between 7.5% and 9.0%. The company also forecast annual adjusted per-share earnings between $2.00 and $2.25, compared with its previous outlook of $3.35 to $3.65.

☆ Wall St retreats on debt ceiling jitters
▼ + stars: | 2023-05-19 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 14, 2023. Stocks had rallied over the past two sessions on growing confidence a deal to raise the $31.4 trillion debt limit could be reached in coming days, with the benchmark S&P 500 (.SPX) climbing more than 2%. The S&P 500 and Nasdaq were poised for their biggest weekly percentage gains since the final week of March. The warning weighed on Dow component Nike Inc (NKE.N), which lost 4.11%, while Under Armour Inc (UAA.N) fell 4.53%. The S&P 500 posted 28 new 52-week highs and three new lows; the Nasdaq Composite recorded 72 new highs and 69 new lows.

Deere & Co (DE.N) rose 4.4% after the heavy machinery company raised its annual net income forecast buoyed by robust farm incomes. The benchmark S&P 500 index (.SPX) and the Nasdaq (.IXIC) were set for their best weekly performance since late March amid positive debt ceiling talks, less-than-feared earnings and economic data. The S&P 500 banks index (.SPXBK) is on course to end the week 5.4% higher, snapping a three-week losing streak. Over 90% of S&P 500 companies have reported, of which around 77% beat earnings expectations, according to Refinitiv data. The S&P index recorded 27 new 52-week highs and one new low, while the Nasdaq recorded 58 new highs and 28 new lows.

S&P 500 futures hit a 15-week high in early trading, while Nasdaq e-minis breached levels not seen in nine months. The positive momentum carried through for much of the week as investors tracked progress in talks between top U.S. lawmakers for an agreement on increasing the $31.4 trillion debt ceiling. ET, Dow e-minis were up 101 points, or 0.3%, S&P 500 e-minis were up 12.25 points, or 0.29%, and Nasdaq 100 e-minis were up 6 points, or 0.04%. The benchmark S&P 500 index (.SPX) and the Nasdaq (.IXIC) were set for their best weekly performance since late March amid positive debt ceiling talks, less-than-feared earnings and economic data. The S&P 500 banks index (.SPXBK) is on course to end the week 5.3% higher, snapping a three-week losing streak.

☆ Foot Locker slumps as weak demand, heavy discounts drive annual forecast cut
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +2 min

May 19 (Reuters) - Shares of Foot Locker Inc (FL.N) plunged 25% premarket on Friday, after the footwear retailer cut its annual sales and profit forecasts reeling under a sharp drop in demand and a hit from heavy discounts aimed at clearing excess inventories. This dented sales at a wide range of companies, including big-box retailer Target Corp (TGT.N) and home improvement chain Home Depot (HD.N). Foot Locker doubled down on promotions and markdowns to drive demand at its stores, which, coupled with a rise in theft-related inventory "shrink", dealt a 400-basis-point hit to its quarterly gross margin. It also expects adjusted earnings of between $2.00 to $2.25 per share, much lower than the $3.35-$3.65 range estimated previously. Excluding items, Foot Locker earned 70 cents per share, which was also below estimates of 81 cents per share.

☆ Under Armour expects dull annual sales, profit as demand slows
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

May 9 (Reuters) - Under Armour Inc (UAA.N) forecast annual sales and profit below Wall Street expectations on Tuesday in a sign that persistent inflation was hampering demand and higher discounts were eating into profit margins, sending its shares down 5% before the bell. Footwear sales jumped 27%, while apparel rose just 1% and accessories fell 1%. The company expects fiscal 2024 net sales to be flat to slightly up, compared with analysts expectations of 3.7% growth. Under Armour also expects diluted earnings per share to be between 47 cents and 51 cents in 2024. Its net revenue rose 7.5% to about $1.40 billion in the quarter ended March 31 compared with analysts' average estimate of $1.36 billion.

☆ Under Armour sees 2024 sales, profit below estimates as demand slows
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

May 9 (Reuters) - Under Armour Inc (UAA.N) forecast annual sales and profit below Wall Street expectations on Tuesday in a sign that stubborn inflation was discouraging shoppers from spending on its athletic clothes and footwear. The company expects fiscal 2024 net sales to be flat to slightly up, compared with analysts expectations of 3.7% growth. Under Armour also expects diluted earnings per share to be between 47 cents and 51 cents in 2024. Analysts were expecting a profit of 61 cents, according to Refinitiv data. Reporting by Granth Vanaik in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ Top analysts are bullish on these five long-term picks
▼ + stars: | 2023-04-02 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +7 min

Here are five stocks chosen by Wall Street's top analysts, according to TipRanks, a platform that ranks analysts based on their past performance. Rakesh holds the 94th position among more than 8,000 analysts followed on TipRanks. The analyst ranks 439th among more than 8,000 analysts followed on TipRanks. The analyst remains bullish on the stock and raised his price target to $134 from $128, as he continues to see a "meaningful upside." Santarelli holds the 27th position among more than 8,000 analysts on TipRanks.

UBS is bearish on Foot Locker , saying that the shoe retailer is unlikely to drive revenue growth in a recession. Sole said he does not believe "enough bad news is priced in" for Foot Locker and several other softline stocks. UBS said Foot Locker also faces more challenges to growth as Nike — which currently accounts for 70% of Foot Locker's sales — grows its direct-to-consumer businesses. UBS' downgrade comes after Foot Locker issued a mixed fourth-quarter report. Foot Locker shares were down 2.6% during premarket trading on Wednesday.

The U.S. central bank's two-day policy meeting will end at 2 p.m. ET (1800 GMT), with investors keenly awaiting Fed Chair Jerome Powell's conference at 2:30 p.m. ET to gauge the central bank’s rate-hike trajectory. While the central bank is likely to continue its hiking cycle with a 0.25% move, we think the guidance for future meetings will be considerably more open," said Gabriele Foà, co-portfolio manager at Algebris Investments. ET, Dow e-minis were up 24 points, or 0.07%, S&P 500 e-minis were up 1.5 points, or 0.04%, and Nasdaq 100 e-minis were down 12.75 points, or 0.1%.

☆ Futures edge lower on caution ahead of Fed rate decision
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +2 min

The expected rate hike of 25 basis points is a turnaround from the steep 50 basis points rate rise anticipated before the recent banking turmoil, triggered by the recent collapse of two regional banks. Markets will also be watching out for a news conference by Fed Chair Jerome Powell following the interest rate decision, looking for cues about the central bank's future path in his commentary. U.S. Treasury yields inched lower amid the cautious mood, with that on the two-year note last at 4.13%. ET, Dow e-minis were down 57 points, or 0.17%, S&P 500 e-minis were down 9.5 points, or 0.24%, and Nasdaq 100 e-minis were down 54.75 points, or 0.43%. Shares of GameStop Corp (GME.N) jumped 38.9% after the company posted a surprise profit for the fourth quarter, helped by lower costs and job cuts.

☆ Wall St ends sharply lower as Powell warns inflation fight continues
▼ + stars: | 2023-03-22 | by ( Stephen Culp | ) www.reuters.com time to read: +5 min

The three major U.S. stock indexes, which were mostly directionless prior to the Fed announcement, jumped higher then deflated as investors digested the accompanying statement and Chair Jerome Powell's subsequent Q&A session. Worries persist that the Fed's aggressive battle against inflation could tip the economy into recession, and recent turmoil in the banking sector, sparked by failures of SVB Financial Group (SIVB.O) and Signature Bank (SBNY.O), have exacerbated those fears. All 11 major sectors of the S&P 500 ended the session deep in negative territory, with real estate (.SPLRCR) suffering the steepest percentage drop, its largest one-day plunge since Sept. 13. The S&P 500 posted six new 52-week highs and 13 new lows; the Nasdaq Composite recorded 44 new highs and 179 new lows. Volume on U.S. exchanges was 11.84 billion shares, compared with the 12.70 billion average over the last 20 trading days.

☆ Nike Sales Jump as It Works Through Inventory Glut
▼ + stars: | 2023-03-21 | by ( Inti Pacheco | ) www.wsj.com time to read: 1 min

Nike had started increasing discounting last summer but worked more aggressively to clear out items in the fall quarter. Nike Inc. made progress working through the inventory glut that squeezed the sneaker maker last year, reporting a 14% jump in quarterly sales and raising its revenue growth target. The sportswear company said its inventory increased 16% in the quarter ended Feb. 28 compared with the same period a year ago. Inventories had swelled by more than 40% in each of the prior two quarters.

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