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JPMorgan's Stephen Tusa shares under-the-radar AI plays
  + stars: | 2024-05-03 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan's Stephen Tusa shares under-the-radar AI playsStephen Tusa, JPMorgan analyst, joins 'Closing Bell Overtime' to discuss how data centers could benefit from the AI hype cycle.
Persons: Stephen Tusa Organizations: JPMorgan
JPMorgan analyst Vivek Juneja upgraded the regional bank stock to an overweight rating from neutral, simultaneously lifting his price target to $39.50 from $37.50. — Lisa Kailai Han 6:27 a.m.: Deutsche Bank downgrades Starbucks after disappointing quarterly earnings Starbucks could feel some near-term pressure, according to Deutsche Bank. Analyst C. Stephen Tusa also raised his price target to $111 from $110, implying that shares of 3M could rally 15% from here. 3M stock has added nearly 6% so far in 2024, but the stock is still trading at an attractive valuation given the company's characteristics, Tusa said. Amongst the group, JPMorgan analyst Doug Anmuth has the highest price target of $240, which implies that Amazon stock could rally another 37% from here.
Persons: Vivek Juneja, Juneja, — Lisa Kailai Han, Samik Chatterjee, Chatterjee, Lauren Silberman, Silberman, Lisa Kailai Han, Stephen Tusa, Tusa, 3M's, Morgan Stanley, Doug Anmuth, Anmuth, — Lisa Kailai Han — CNBC's Michael Bloom Organizations: CNBC, JPMorgan, Starbucks, Deutsche Bank, Fifth, Bancorp, Logitech, 3M, Barclays, Bank of America, Amazon, Services, Wall Street, Locations: China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSupply chain issues are 'in the rear view mirror,' says Aptar CEOStephen Tanda, CEO of Aptar, joins CNBC's 'The Exchange' to share the market outlook for pump and dispensing devices, product innovation, and more.
Persons: Stephen Tanda
Spirit Airlines furloughs 260 pilots to save money
  + stars: | 2024-04-08 | by ( ) edition.cnn.com   time to read: +2 min
CNN —Spirit Airlines said on Monday it has reached a deal with Airbus to delay all aircraft deliveries scheduled from the second quarter of 2025 through 2026 and intends to furlough about 260 pilots, as the company looks to save cash. As a result of the deferrals, along with quality issues with engines made by supplier Pratt & Whitney, Spirit is furloughing pilots effective Sept. 1. “[The] aircraft deferrals and pilot furloughs look positive, in terms of helping the carrier to reduce [or] defer some costs. Spirit, which has been losing money for several quarters despite strong travel demand, operates an all-Airbus fleet. Spirit now expects to end 2025 with a total of 219 jets in its fleet, with no additions of the A320neo aircraft.
Persons: Stephen Trent, , Ryan Muller, Muller Organizations: CNN — Spirit Airlines, Airbus, Pratt, Whitney, Pratt & Whitney, Citi Research, Air Line Pilots Association
Investors can still find discounts even as stocks climb to fresh all-time highs . Both the S & P 500 and the Dow Jones Industrial Average reach new records on Friday, surpassing previous highs notched just a day earlier. The stock has about 12% over the past month and nearly 11% from the start of the year. American Airlines stock currently trades at a forward price-to-earnings (P/E) multiple of 5.8 overall, slightly lower than the industry average. AAL YTD mountain American Airlines stock.
Persons: Stephen Trent Organizations: Dow Jones, Nvidia, CNBC, Airlines, American Airlines, FactSet, Citi, Exxon Mobil, Wall, Exxon, Resources, General Motors, CVS Health
American Airlines — The airline stock added 1.5% following an upgrade to buy from neutral at Citi. "North America's network carriers' diversified revenue streams and solid demand for premium cabin offerings appear to provide them with superior positioning in this post-pandemic environment," wrote analyst Stephen Trent. Builders FirstSource — The building materials manufacturer edged 2% higher following an upgrade to buy from neutral at Bank of America. ZoomInfo Technologies — The software stock popped 5.5% after Bank of America analyst Koji Ikeda upgraded it to buy from neutral. "We believe it is a classic self-help story that is set to outperform," the analyst wrote, underscoring the company's revenue growth reacceleration and new AI products as potential catalysts.
Persons: Stephen Trent, Flywire, Morgan Stanley, Omar Nokta, Hershey, Wells, Steven Cahall, , Cowen, Rafe Jadrosich, Julien Dumoulin, Smith, FactSet, Koji Ikeda, McGrath RentCorp — McGrath RentCorp, CNBC's Michelle Fox, Alexander Harring, Sarah Min, Jesse Pound Organizations: JPMorgan, American Airlines —, Citi, Zim Integrated Shipping Services —, Jefferies, Warner Bros, Bank of America, Bloom Energy, Koninklijke Philips —, Food and Drug Administration, Technologies, WillScot Mobile Locations: Albemarle, Netherlands
Some of the biggest analyst calls on Monday focused on a dollar store stock and a major U.S. airline. She assigned a $235 price target, which suggests shares could climb about 23.5%. The analyst maintained his buy rating and raised his price target by $30 to $455, which implies 15.4% potential upside from Friday's close. His $175 price target — down from $185 — implies 25.3% downside for the stock from Friday's close. The bank upgraded the airline to buy from neutral, raising its price target to $20 from $14.
Persons: Bernstein, Hershey, Alexia Howard, Howard, , — Pia Singh, Jefferies, Brent Thill, Morgan Stanley, Norfolk, Ravi Shanker, Shanker, Raymond James Raymond James, Olivia Tong, Tong, Matthew Boss, Said, ̇, Boss, Stephen Trent, Fred Imbert Organizations: CNBC, JPMorgan, Citi, American Airlines, Hershey, Meta, Norfolk, Colgate, Palmolive, CL, American Airlines American Airlines Locations: U.S, Norfolk Southern
In fact, "data centers are taking a disproportionate amount of incremental capacity being added by electrical equipment manufacturers." Much of the energy data centers consume is used to train AI models as well as to run them. Natural resources, power supply, funding — the necessities that allow for the existence of the data centers — aren't exactly infinite. The company's business took off last year as data centers began to need more electrical equipment capacity and generated more heat. JPMorgan has a neutral rating on GE with a $124 price target, 5.5% below the stock's Monday close.
Persons: Andrew Obin, Stephen Tusa, Obin, It's, TD Cowen, Michael Elias, Tusa, Eaton, hasn't, Elias, I've, Hubbell, repurposing, Martyn Briggs Organizations: Nvidia, Bank of America, JPMorgan, General Electric, Hubbell Power Systems, U.S . Department of Energy, Google, Oracle, Microsoft, Power, Bloomberg, Energy, GE, Dominion Energy, Dominion Locations: Eaton, BofA, U.S, Northern Virginia, FactSet
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're more constructive on large airline stocks compared to others, says Citi's Stephen TrentStephen Trent, Airline Analyst at Citigroup, discusses United Airlines' earnings and the overall sector's recent turbulence.
Persons: Citi's Stephen Trent Stephen Trent Organizations: Citigroup, United Airlines
Thursday's analyst calls featured an upgrade to a car rental stock and a big downgrade to an airline. The bank also hiked his price target on the tech giant to $225 per share, implying upside of 23%. — Pia Singh 5:36 a.m.: Citi downgrades Spirit Airlines to sell Citi is throwing in the towel on Spirit Airlines . Week to date, Spirit shares are down nearly 60%. Spirit shares were down more than 4% in the premarket.
Persons: Morgan Stanley, Hertz, Andrew Percoco, Percoco, — Pia Singh, Wamsi Mohan, Fred Imbert, Kirk Materne, Materne, Dan Dolev, Dolev, he's, CFRA, Kenneth Leon, Berkshire Hathaway, Leon, Ranjan Sharma, Sharma, bode, Adam Jonas, Jonas, Morgan, Stephen Trent, Trent Organizations: CNBC, flipside, Citi, Spirit Airlines, JetBlue, Bank of America, Apple Bank of America, Apple, Microsoft, ISI, Activision, Activision Blizzard, Mizuho, Fidelity National Information Services, Paramount Global, RedBird Capital, Warner Bros ., Comcast, Paramount's, Showtime, Paramount, JPMorgan, Grab Holdings, Hertz Global Holdings, Jan, Citi downgrades Spirit Airlines, Spirit, Airlines Locations: Berkshire, 1H24, Wednesday's
But there's a catch with conventional assets: the wash sale rule . Now, tax professionals are flagging a potential wrinkle that may arise: Even though bitcoin itself isn't subject to the wash sale rule, a spot bitcoin ETF very well may be. Property versus security Under federal tax law, the IRS deems cryptocurrency to be property . Managing limitations At its core, that means investors should avoid swapping in and out of the same spot bitcoin ETF within the 61-day limit if they had sold the position. This also raises the question of whether dumping one spot bitcoin ETF for another would be deemed substantially identical.
Persons: Stephen Turanchik, Paul Hastings, Andrew Gordon, Dan Herron, Richard LaFalce, Morgan Lewis, Turanchik Organizations: Internal, Digital, Tax, Force, American Institute of CPAs, IRS, Gordon Law Group, Elemental Wealth, Investors Locations: San Luis Obispo , California
Fighting remains intense in southern and eastern Ukraine, where Russian units are deeply entrenched, preventing Ukraine's forces from making significant advances. They note that neither Russia nor Ukraine seems to be at a point where a political resolution is palatable, however. 'Red lines' firmly drawnBoth Russia and Ukraine have repeatedly said they want the war to end — but on their terms. For its part, the Kremlin said in December that it saw no current basis for peace talks, and called Kyiv's peace plan an "absurd process" as it excluded Russia. One big stumbling block in any potential peace talks now is their respective positions on territorial integrity.
Persons: Volodymyr Zelenskyy, It's, Sam Greene, Pierre Crom, Stephen Twitty, Vladimir Putin, Sam Cranny, Evans, Putin, there's, Zelenskyy, Mario Bikarski, Mitch McConnell, Chuck Schumer, Bill Clark Organizations: Anadolu, Getty, Economic, King's College London, CNBC, U.S, Army, U.S . European Command, Economic Forum, Royal United Services Institute, Kremlin, Kherson —, Anadolu Agency, CIS, Senators, Capitol, Cq, Inc Locations: Kharkiv, Ukraine, Ukrainian, Russia, Switzerland, Davos, Kyiv, Malta, China, Crimea, Avdiivka, Europe, Moscow, Russian, Estonia, Belarus, Turkey, Donetsk, Luhansk, Zaporizhzhia, Kherson, Ky
The National Science Foundation declined to answer AP questions about why Bieneman was sent out into the field in a critical safety role while under investigation. The case raises further questions about decision-making in the U.S. Antarctic Program, which is already under scrutiny. Conway and the graduate students did not respond to AP requests for comment. In the complaint, Conway described Bieneman as initially being “domineering and critical” of the two female graduate students at the camp. He said the graduate students, fearing possible retaliation if they disclosed the story, felt they had to tiptoe around Bieneman.
Persons: Stephen Tyler Bieneman, Bieneman, , Birney Bervar, ” Marc Tunstall, icefield, Tyler, Howard Conway, Conway, ” Conway, Jennifer Farrar Organizations: The Associated Press, McMurdo, The National Science Foundation, U.S . Antarctic Program, AP, NSF, Prosecutors, Twin, University of Washington, Conway, Bieneman, Attorney's Locations: WELLINGTON, New Zealand, Antarctica, Honolulu, Allan, McMurdo, Bieneman, Hawaii, The U.S, New York
A federal judge has made a decision in a dispute between relatives of Franklin D. Roosevelt’s press secretary over ownership of four Norman Rockwell drawings that hung for decades in the White House. The drawings — titled “So You Want to See the President!” — show a range of figures, including a Scottish military officer, a beauty pageant winner and a U.S. senator, all waiting at the White House for an audience with Roosevelt. Rockwell gave the originals of the drawings, which were published in The Saturday Evening Post, to the president’s press secretary, Stephen T. Early. One drawing depicts Early with a pipe clenched between his teeth, facing a clutch of reporters. The court case focused on who in the family had inherited the drawings from Early, with some relatives saying that they had been unaware until recently that the works had been on loan to the White House since 1978.
Persons: Franklin D, Norman Rockwell, , Roosevelt, Rockwell, Stephen T Organizations: Scottish, White House, House Locations: U.S
REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCHICAGO, Oct 12 (Reuters) - Delta Air Lines (DAL.N) on Thursday reported stronger-than-expected quarterly profit on strong international travel, but trimmed its full-year outlook due to higher fuel costs. In an interview, he said the demand for Delta's products remain "high" as its customers are in "a very healthy condition." Delta now expects adjusted earnings of $6 to $6.25 per share this year, compared with $6 to $7 per share estimated in July. In the December quarter, the airline expects adjusted earnings in the range of $1.05 to $1.30 per share. Ultra-low-cost carrier Spirit Airlines (SAVE.N) last month cut its profit outlook for the third quarter, citing "heightened promotional activity with steep discounting."
Persons: John F, Andrew Kelly, Ed Bastian, Delta, Stephen Trent, Hopper, airfare, Bastian, Rajesh Kumar Singh, Mehr Bedi, Jamie Freed, Arun Koyyur, Nick Zieminski Organizations: Delta Air Lines, Kennedy International Airport, REUTERS, Rights, Delta, U.S, Wall Street, Citi Research, Spirit Airlines, Frontier Airlines, Thomson Locations: Queens , New York City, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPerformance of international long haul flights is beating domestic, says Citi's Stephen TrentStephen Trent, Citigroup airline analyst and managing director, joins 'The Exchange' to discuss bifurcation in the airline sector's performance, consumer preference for international long-haul flights over domestic, and hybrid work policies shifting airline ticker purchasing trends.
Persons: Citi's Stephen Trent Stephen Trent Organizations: Citigroup
Marc Atkins/Getty ImagesAt the heart of this is a failure in communication by match officials and a failure to put pragmatism before protocol. There is an acceptance that mistakes will happen, and there have been plenty already this season in the Premier League. The release of the audio of the conversations between the match officials would likely influence what Liverpool does next. In rugby union, fans can listen to discussions between match officials on crucial decisions, making the process clear and open for all. The immediate consequence has been that VAR officials England and Cook have not been selected to feature in this weekend’s Premier League games.
Persons: wasn’t, , Mohamed Salah’s, Luis Díaz, Salah, Darren England, Simon Hooper, Hooper, , Dan Cook, PGMOL, Curtis Jones, Marc Atkins, VARs –, Jurgen Klopp, , Alan Shearer, Visionhaus, Neil Atkinson, , CNN Sport’s Don Riddell, Klopp, Joel Matip, Justin Setterfield, Stephen Taylor Heath, they’ve, ” Taylor Heath, Taylor Heath, Henry Winter, Howard Webb, PGMOL’s, Díaz, Peter Cziborra, Webb, Cook Organizations: CNN, English Premier League, Liverpool, Tottenham, Premier League, Manchester, Spurs, England, Nottingham Forest, Brentford, Sunday, Fulham, Chelsea, Daily Telegraph, BBC, Anfield, JWM Solicitors, CNN Sport, , Times, Major League Soccer, PA Media, Sky Sports, International Football Association Board Locations: Liverpool, Colombian, England
A family in South Carolina said they spotted the missing F-35 flying almost inverted. They told NBC News they were celebrating a birthday when they saw the aircraft at about 100 feet. The family heard a "boom" later on, but assumed it may have been thunder, per NBC News. The Truluck family told NBC News they were celebrating their son's seventh birthday in Williamsburg County on Sunday when they saw the jet and then heard a "boom." AdvertisementAdvertisementWhen the family later heard a "boom," they assumed it was thunder, Adrian Truluck told NBC News.
Persons: Stephen Truluck, Adrian Truluck, Charlton Truluck, Randolph White, screech Organizations: NBC News, NBC, Service, Shaw Air Force Base, Courier, Corps, Marine Corps Locations: South Carolina, Wall, Silicon, Williamsburg County, Charleston, Williamsburg
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDemand trends for airlines in domestic and international markets have bifurcated, says Citi's TrentStephen Trent, Citigroup airline analyst, joins 'Squawk Box' to discuss the demand side of the equation for airlines, how consumers can afford to pay more for an airline seat, and Trent's favorite stocks in the space.
Persons: Citi's Trent Stephen Trent Organizations: Citigroup
As the series creator, he was keen to continue the story of the family in "Young Love," which premieres on Sept. 21 and runs for 12 episodes. "Hair Love" unpacks the story of a Black father named Stephen trying to do his seven-year-old daughter Zuri's hair for the first time while his wife Angela is in the hospital receiving chemotherapy for cancer. "Young Love" picks up after Angela's return home from treatment, exploring the life of the multigenerational family in Chicago, where Cherry grew up. "Young Love" is another chapter in the short film's expansion. "Hair Love" has already been adapted into a New York Times bestselling book, the Dove Kids Hair Love collection and used as a pillar in the passing of the CROWN Act, a bill that aims to end hair discrimination in the United States.
Persons: Matthew A, Cherry, Stephen, Angela, Issa Rae, Zuri, Angela's, Rae, Loretta Devine, Sheryl Lee Ralph, Kid Cudi, Henry Lennix, Cudi, Danielle Broadway, Eric Cox, Mary Milliken, Aurora Ellis Organizations: Reuters, YouTube, New York Times, Thomson Locations: Chicago, United States, Los Angeles
[1/2] A Southwest Airlines aircraft flies past the U.S. Capitol before landing at Reagan National Airport in Arlington, Virginia, U.S., January 24, 2022. REUTERS/Joshua Roberts/File Photo Acquire Licensing RightsSept 6 (Reuters) - Southwest Airlines (LUV.N) on Wednesday flagged softer August leisure bookings and joined two other U.S. airlines in warning of higher fuel costs in the third quarter due to a jump in crude prices. United Airlines (UAL.O) and Alaska Air Group (ALK.N) also warned of higher fuel costs in the current quarter as crude oil prices rose for a third straight month in August, amid signs of tightening supply. In a regulatory filing, United said jet fuel prices have climbed over 20% since mid-July. U.S. airlines do not generally hedge against fuel costs, making them vulnerable to price swings.
Persons: Joshua Roberts, Gerald Laderman, Stephen Trent, Mehr Bedi, Abhijith, Aishwarya Jain, Pooja Desai Organizations: Southwest Airlines, U.S, Capitol, Reagan National Airport, REUTERS, United Airlines, Alaska Air Group, United, Cowen Transportation Conference, Alaska Air, Citi Research, Thomson Locations: Arlington , Virginia, U.S, Denver, Chicago, Southwest, Bengaluru
A Gen Xer moved to Orlando, Florida, after his lab in California went remote in 2020. For the first few years, remote work went smoothly. After bringing remote workers back to the office, some companies are "quiet firing" employees who either moved away from the office or were hired for an initially remote position. At the same time, there appears to be a growing detachment between remote employees and their employers. I don't see a whole lot of negatives with remote work."
Persons: Xer, Stephen Taylor, Taylor inched, Taylor, couldn't, Ben Wigert, Wigert, doesn't Organizations: Service, Gallup Locations: Orlando , Florida, California, Wall, Silicon, Bay, Orlando, North Carolina
The scale of the drone war in Ukraine is one of the most striking features of the conflict. "ISIS figured out how to arm their drones and attack us either with 'kamikaze' explosive-laden drones or drones that dropped" modified munitions, Townsend said. Soldiers with the 5th Battalion, 4th Air Defense Artillery Regiment train on an Avenger air-defense system in in July. In 2018, the Army reactivated the 5th Battalion, 4th Air Defense Artillery Regiment, returning a short-range-air-defense capability to Europe. AdvertisementAdvertisement"The war is showing how much [drones are] here and are affecting the war every day.
Persons: Ukraine isn't, Mara Karlin, wasn't, Karlin, that's, John Moore, Stephen Townsend, Townsend, Frank McKenzie, MAHMOUD TAHA, I've, Syria —, Richard Clarke, Clarke, Tom Karako, " McKenzie, McKenzie, Maj, Sean Gainey, Gainey, FADEL SENNA, Douglas Bush, Bush, they've, Col, Michael Parent, Narciso Contreras, Parent Organizations: Pentagon, Service, Defense Writers, US Marine, US Army, US Africa Command, ISIS, Getty, Army, US Special, Command, Aspen Security Conference, Missile Defense, Center for Strategic, International Studies, Patriot, , US Air Force, Congressional Research Service, 5th Battalion, 4th Air Defense Artillery Regiment, Spc, Yesenia, Asymmetric Warfare Group, Battalion, Stryker, Washington DC, Marine Corps, US Army Yuma, US, Anadolu Agency, Pacific . The Defense Department Locations: Ukraine, Wall, Silicon, Armenia, Azerbaijan, Afghanistan, Iraq, Mosul, Syria, Homs, Europe, Washington, Russian, Kyiv, Russia, Lviv Oblast, China, Pacific
Antoine, 43, joined in 2006 as an executive vice president overseeing Ligne Roset’s North American division. Ligne Roset has long collaborated with emerging designers, and the pair considers putting money into equipment to support new design an essential component for moving forward. “It is key for a manufacturer who wants to be at the forefront of design and development,” Antoine said. In collaboration with a California biotechnology company called MycoWorks, the cousins are developing a new type of vegan leather made from mushrooms. Other companies are experimenting with alternatives to hides, they noted, but Ligne Roset wants to be the first to have a sustainable vegan leather on permanent offer in their products.
Persons: Antoine, Olivier, Ligne Roset, ” Antoine, Michel Ducaroy Organizations: Ligne, North Locations: Briord, France, California, Togo
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