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Boring utility stocks are being highlighted as the next great beneficiaries of the AI boom. Goldman Sachs highlights 4 buy-rated utility stocks that are set to benefit from the AI boom. AdvertisementThe most boring area of the stock market is being awakened by the AI boom, and investors should take notice now, according to Goldman Sachs. These are the four utility stocks Goldman Sachs rates as Buy, partly due to their exposure to AI-fueled electricity demand. NextEra Energy (NEE): "Renewable segment uniquely positioned for AI data load and interconnection queue available."
Persons: Goldman Sachs, Organizations: Service, Goldman, Xcel, Co, Nvidia, AMD, Computers Locations: MISO, Texas
According to an April 28 report from Goldman Sachs, the demand for power from AI data centers is expected to increase by 160% between 2023 and 2030. The report states that the rate of demand growth expected in the next five years has not been witnessed since the beginning of the century. AdvertisementFluence Energy (FLNC) provides clean energy storage that can serve as a power supply backup source if data centers experience outages. NextEra Energy (NEE) is a US energy company already providing power to data centers and demand from its electricity supply is expected to grow. nVent Electric (NVT) is an electrical parts supplier that provides liquid cooling, enclosures, power distribution, and cable management for data centers.
Persons: , Goldman Sachs, Goldman, it's, Kinder Morgan Organizations: Service, Real, Business, Microsoft, Fluence, Google, GE, NextEra Energy, Co, Georgia Power, Xcel Energy, Cameco Corporation, EQT Corp, Caterpillar, Eaton Corporation, MYR Locations: US, Canadian
Read previewThe embattled insurer Globe Life and its subsidiary American Income Life face new allegations of fraud, kickbacks, and misclassifying its army of sales agents. Neither Globe, AIL, or any affiliated agencies have requested a correction on BI's series, which has been cited in all three short-seller reports. Spokespeople for Globe, AIL, and Arias did not respond to inquiries about the Viceroy report. Viceroy today published excerpts from a civil complaint alleging that Globe Life required recruits to purchase the course from Xcel for $149, $119 of which was kicked back to Globe Life, AIL, and agency executives, an allegation Globe has denied. "As you might expect, these sales tactics do not engender long-term retention of policies," the Viceroy report states.
Persons: , AIL, Fraser Perring, Nate Koppikar, Panda, Arias, Erica Robertson, Robertson, Amy Williamson, Renee Zinsky, Fuzzy Panda, Jamie Winters, Winters, Viceroy, AIL's, Antonio – Organizations: Service, Viceroy Research, Globe, Business, Research, Orso Partners, Insurance Department, Pennsylvania, Arias Organization, Social, Organization, AIL, BI, Department, Xcel, Liberty National Life, Ohio Department of Insurance Locations: Texas, London, Globe, Maryland, Pennsylvania, Arias's Wexford, California, Xcel, Ohio, Antonio
Read previewShares of insurance giant Globe Life Inc. plunged 53% today and trading was halted eight times after a short-seller issued a damning narrative on the company. (Globe Life, AIL, and the other defendants denied the allegation in a legal filing.) Meanwhile, Warren Buffett's Berkshire Hathaway sold all 6.35 million shares of Globe Life stock the investor once held. In his April 3 presentation to investors, Koppikar called Globe Life "a dead-end pyramid scheme." He predicted that the DOJ investigation will hinder recruiting, "which is the lifeblood for pyramid schemes like Globe Life."
Persons: , Arias, Panda, Fuzzy Panda, Steve Greer, Dave Zophin, Trina Orlando, Renee Zinsky, Zinsky, AIL, Simon Arias, Michael Russin, Amy Williamson, Zinsky's, Russin, Warren Buffett's Berkshire Hathaway, John Kane, Matthew D, Williamson, wasn't, I'm, Michael Clark, Renee, Jennifer Haworth, Abeni Mayfield, Susan Antilla, Orlando, Nate Koppikar, Haworth, J, Matthew Darden, Russin's, Koppikar Organizations: Service, Inc, Business, BI, Organization, Globe, AIL, Arias Organization, Agencies, Opportunity, Department of Justice, Globe Life, Russin, AAA, Orlando, Alpha, Reuters, DOJ Locations: Globe's, Pittsburgh, Columbia , Maryland, Mayfield, Arias
Crypto stocks — Stocks connected to cryptocurrencies rose as Bitcoin hit a fresh record high and topped $71,000. PDD Holdings — U.S.-listed shares of the Chinese ecommerce company added 4.5% following an upgrade by Jefferies to buy. Duolingo — Duolingo shares rose more than 1% after JPMorgan initiated coverage of the online learning platform with an overweight rating, citing expectations for "premium" revenue growth. Xcel Energy ­— Xcel Energy shares added‎ about 2%. New York Community Bancorp — Shares of the regional bank ticked up 1% in premarket trading.
Persons: Jefferies, Duolingo, Oppenheimer, Gamble —, , Jesse Pound, Michelle Fox Organizations: PDD Holdings —, Jefferies, JPMorgan, Energy, Xcel Energy, Barclays, Nvidia, New York Community Bancorp, Netflix, Procter, Gamble, Truist Locations: Temu, China
Here are Monday's biggest calls on Wall Street: Morgan Stanley reiterates Nvidia as overweight Morgan Stanley said the stock is a top idea after coming out of the company's recent TMT conference. " Morgan Stanley downgrades Hyatt to equal weight from overweight Morgan Stanley said in its downgrade of the stock that risk/reward is more balanced. Morgan Stanley reiterates Eli Lilly as overweight Morgan Stanley said the next catalyst for Eli Lilly is the results from the company's sleep apnea trial. Morgan Stanley initiates Phinia as overweight Morgan Stanley initiated the auto components and supplier company and says it's a "key beneficiary of the EV reset." Morgan Stanley reiterates Meta as overweight Morgan Stanley said it's standing by shares of Meta.
Persons: Morgan Stanley, Oppenheimer, underperform Jefferies, Jefferies, Tesla, Evercore, Tesla's, Tesla's Austin Gigafactory, Wolfe, XEL, Morgan Stanley downgrades Hyatt, JPMorgan, Stifel, Eli Lilly, Truist, Guggenheim, it's, PDD, Locker, Meta, Goldman Sachs, Goldman Organizations: Netflix, Jefferies, Wyndham, Underperform, Wyndham Hotels, Adobe, & Highland, JPMorgan, Energy, Hyatt, Petrobras, Procter, Gamble, Guggenheim, Nike, ICE, UBS, Apple, Meta, & & / Locations: Tesla's, Texas, bullish, China, Kazakhstan, America
Oracle — Shares added 1.6% ahead of the software giant's fiscal third-quarter earnings report due after the bell. Analysts polled by FactSet are expecting earnings per share of $1.38 and revenue of $13.29 billion. New York Community Bancorp — The regional bank stock dropped 4.8%, extending losses after Friday's more than 6% drop. Moderna — The stock jumped more than 8% in midday trading, putting it on track for its biggest one-day gain since December. Duolingo — Shares rose 3.6% after JPMorgan initiated coverage of the online learning platform with an overweight rating, forecasting "premium" revenue growth that could substantially drive up Duolingo's valuation.
Persons: FactSet, Lam, Coinbase, Microstrategy, Jefferies, Eli Lilly, — CNBC's Michelle Fox, Alex Harring, Yun Li, Tanaya Macheel, Pia Singh Organizations: Oracle, Nvidia, Semiconductor, Lam Research, New York Community Bancorp, Moderna, P Biotech, Xcel Energy, Barclays, JPMorgan, PDD Holdings
Xcel Energy facilities "appear to have been involved in an ignition" of a giant wildfire that's been blazing across the Texas Panhandle since last month, the company said in a statement Thursday. The cause of the Smokehouse Creek Fire — the biggest in state history, burning well over 1 million acres — is still under investigation by Texas officials, but the utility company said it is also conducting its own review. "Xcel Energy disputes claims that it acted negligently in maintaining and operating its infrastructure; however, we encourage people who had property destroyed by or livestock lost in the Smokehouse Creek fire to submit a claim to Xcel Energy through our claims process," the statement said. Claims filed to the company will be handled expeditiously, prioritizing those who lost their homes in the fire, the company said. The Texas A&M Forest Service said the ongoing Smokehouse Creek Fire is the largest blaze in state history, burning more than 1,059,570 acres.
Organizations: Xcel Energy, Texas Panhandle, Energy, Texas, M Forest Service Locations: Texas
TORONTO (AP) — Kristen Campbell made 30 saves in front of a women’s hockey-record crowd of 19,285 fans at Scotiabank Arena, helping Toronto beat Montreal 3-0 on Friday night in the Professional Women’s Hockey League. Minnesota set the previous PWHL mark of 13,316 for its home opener against Montreal on Jan. 6 at Xcel Energy Center. Jesse Compher, Hannah Miller and Victoria Bach — into an empty net — scored in the third period to help Toronto (6-5-0) win its fourth straight. Ann-Renee Desbiens stopped 21 shots for Montreal (6-2-2). Canadian women’s basketball team star Kia Nurse, the cousin of PWHL Toronto star Sarah Nurse, performed the ceremonial puck drop.
Persons: — Kristen Campbell, , Jesse Compher, Hannah Miller, Victoria Bach, Ann, Renee Desbiens, Compher, Miller, Bach, Kia Nurse, Sarah Nurse, ___ Organizations: TORONTO, Scotiabank Arena, Toronto, Montreal, Professional Women’s Hockey League, Xcel Energy, Minnesota, Sunday, York Locations: Ottawa , Ontario, Canada, Finland, Minnesota, Toronto
REGINA, Saskatchewan (AP) — Natalie Spooner opened the scoring on a power play 58 seconds into the third period and Canada won its third straight to send the Rivalry Series to a decisive seventh game, beating the United States 3-0 on Friday night. She got the puck and made stuff happen.”Photos You Should See View All 21 ImagesSoon after, Canada killed off the last of the United States' five power plays. On Wednesday night in Saskatoon, Canada won 4-2. In December, they won 3-2 in Kitchener, Ontario, and Canada outlasted the U.S. 3-2 in a shootout in Sarnia, Ontario. There was a 10-minute delay at the start of the second period because of a problem with the scoreboard system.
Persons: — Natalie Spooner, Emerance Maschmeyer, Emily Clark, Sarah Nurse, , ” Clark, there’s, Megan Keller, Spooner, Philip Poulin, Aerin Frankel, ” Spooner, ” Maschmeyer, Frankel, Nurse, Maschmeyer, Hayley Scamurra's, John Wroblewski, Organizations: Canada, United, Xcel Energy Locations: REGINA, Saskatchewan, United States, St, Paul , Minnesota, Marie, Canada, U.S, Saskatoon, Tempe , Arizona, Los Angeles, Kitchener , Ontario, Sarnia , Ontario
Alina Muller has already accomplished plenty in the 10 years since scoring Switzerland’s bronze-clinching goal to become, at 15, the youngest women’s hockey player to win a medal at a Winter Olympics. Another first comes Thursday when she takes part in the Professional Women’s Hockey League’s 3-on-3 showcase game as part of the NHL’s All-Star weekend festivities in Toronto. Political Cartoons View All 253 ImagesNHL chief content officer Steve Mayer said the league has liked to use All-Star Weekend as a way to lean into women’s hockey. Like I must have done something right in life,'” said Team King coach and former Canadian national team player Cassie Campbell-Pascall. The team set a pro women’s hockey attendance record with 13,316 turning out for its home-opening 3-0 win over Montreal.
Persons: Alina Muller, Muller, it's, , it’ll, — Kendall Coyne, Steve Mayer, ” Mayer, , Justin Trudeau, Ottawa’s, Mueller, Alex Carpenter, King —, Billie Jean King —, Hilary Knight, Coyne Schofield, Marie, Philip Poulin, Kloss —, Ilana Kloss —, Carpenter, Taylor Heise, Sarah Nurse, Brianne Jenner, Cassie Campbell, there’s, ” What’s, Pascall, Meghan Duggan, Campbell, “ It’s, Renata, Louis, we’ve, we’re, Toronto’s, Nicole Hensley, Paul, ” Hensley, that’s, Stephen Whyno, ___ Organizations: Professional, Boston, NHL, Canadian, Northeastern, Canada's, Campbell, Canada, ” Scotiabank, Toronto, Mattamy Athletic Centre, Montreal, Scotiabank . Minnesota, Xcel Energy, U.S, AP Locations: Toronto, Europe, Asia, Switzerland, United States, St, Minnesota
A host of companies reporting quarterly results next week have momentum on their side after Wall Street analysts boosted their earnings estimates on them over the past three months. The fourth-quarter earnings season is expected to show tech stocks as the standout segment of the benchmark S & P 500. Still, some stocks that are set to report earnings next week have seen analysts bump up their profit forecasts. INTC YTD mountain Intel stock has ticked down about 6% from the start of the year. Analysts surveyed by FactSet now estimate the company will notch an adjusted earnings per share of $7.07 in its most recent quarter.
Persons: FactSet, it's Organizations: Wall Street, CNBC, Intel, Nvidia, AMD . Semiconductor, Lam Research, VanEck Semiconductor, Xcel Energy Locations: Horton
Cramer's Lightning Round: 'Buy Toyota'
  + stars: | 2023-11-20 | by ( Julie Coleman | ) www.cnbc.com   time to read: +2 min
Stock Chart Icon Stock chart icon SL Green Realty's year-to-date stock performance. Stock Chart Icon Stock chart icon Lucid's year-to-date stock performance. Stock Chart Icon Stock chart icon Schlumberger's year-to-date stock performance. Stock Chart Icon Stock chart icon Toyota's year-to-date stock performance. Stock Chart Icon Stock chart icon Conagra's year-to-date stock performance.
Persons: it's, Xcel, It's, That's, Wynn, Jim Cramer's Organizations: Green, Schlumberger, Toyota, Twist, Boise, Xcel, Excel, Sirius, Sirius XM, Properties Locations: BXP, Boise
Morning Bid: Amazon and goldilocks ride to the rescue
  + stars: | 2023-10-27 | by ( ) www.reuters.com   time to read: +6 min
Unlike the reaction to similarly decent results from some of its Big Tech peers this week, shares in the online retail giant Amazon climbed 5% after hours. And both Nasdaq and S&P500 futures were set to bounce into the weekend later after the cash markets closed at their lowest since May. With nominal U.S. growth running at close to 8%, depending on which inflation gauge you use, the heat is impressive. And even the racy headline GDP growth rate was below many assumptions of a 5%-plus print. That bond relief has perhaps flattered the overnight stocks bounce - although on aggregate the earnings season is pretty decent too.
Persons: Brendan McDermid, Mike Dolan, megacaps, Wang Yi, crumb, Sanofi, TRowe Price, Stanley Black, Decker, CBRE, Christine Lagarde, Jane Merriman Organizations: Chevron Corp, Hess Corp, New York Stock Exchange, REUTERS, Amazon, Big Tech, Nasdaq, Treasury, Federal Reserve, Fed, Big, Exxon Mobil, Chevron, Apple, of Japan, European Central Bank, Britain's NatWest, Financial, Authority, University of Michigan, Colgate, Palmolive, Xcel Energy, Charter Communications, Phillips, Central Bank, European Union Summit, Reuters Graphics Reuters, Reuters, Thomson Locations: New York City, U.S, United States, China, Syria, Europe, Dallas, Abbvie, LyondellBasell, Brussels
U.S. Vice President Kamala Harris delivers remarks during the Congressional Black Caucus Foundation Phoenix Awards Dinner at the Walter E. Washington Convention Center in Washington, U.S., September 23, 2023. REUTERS/Elizabeth Frantz/File Photo Acquire Licensing RightsWASHINGTON, Oct 25 (Reuters) - The Biden administration on Wednesday urged big companies to deposit another $2 billion into U.S. community lenders to boost loans to minority and underserved businesses, and asked them to devote 15% of their procurement budgets to such firms. Alphabet Inc's Google (GOOGL.O) will commit to spending at least $1 billion annually with "diverse-owned suppliers" in the United States, the Treasury said. The Treasury had previously invested nearly $9 billion into Community Development Financial Institutions (CDFIs) and minority-owned banking firms to make more capital available to minority firms. "In order for these minority owned banks and CDFIs to lend that money, they need deposits," Deputy Treasury Secretary Wally Adeyemo told reporters.
Persons: Kamala Harris, Walter E, Elizabeth Frantz, Biden, Harris, Wally Adeyemo, David Lawder, Sonali Paul Organizations: Congressional Black Caucus Foundation, Washington Convention Center, REUTERS, Rights, Wednesday, Micron Technology, Air Products, Xcel Energy, Treasury Department, Treasury, Freedman's Bank, Community Development Financial, Management, Internal Revenue Service, Thomson Locations: Washington , U.S, United States
Earnings season is in full swing, and Wall Street analysts named a slew of well-positioned stocks heading into quarterly results. CNBC Pro combed through recent Wall Street research to find stocks with earnings upside. They include Nvidia, Dover, Arista Networks , Xcel Energy, Pfizer and Costco. Analyst Amit Daryanani and his team added a tactical outperform to the stock ahead of earnings on Oct. 30. … We continue to see multiple paths to double digit growth for Arista in 2024 and their analyst day should confirm this outlook."
Persons: Oppenheimer, Bryan Blair, Blair, Dover's, Murphy, Dover, Amit Daryanani, Daryanani, Julien Dumoulin, Smith, Xcel, XEL, Dover – Oppenheimer, DOV, William Blair, Pfizer – Cantor Fitzgerald, PFE, , Nvidia – Jefferies Organizations: Wall Street, CNBC, Nvidia, Arista Networks, Xcel Energy, Pfizer, Costco, Dover, ISI, Arista, Xcel Energy Bank of America, Energy – Bank of America, , … Arista, Automotive, & $ Locations: Dover
Biden announced $3.5 billion for 58 projects across the country to strengthen the electric grid. This is the largest federal investment ever made in grid infrastructure, said US Energy Secretary. Energy Secretary Jennifer Granholm said it was the largest federal investment ever in grid infrastructure, supporting projects that will harden electric systems and improve energy reliability and affordability. The federal spending, combined with money promised by private partners, could result in up to $8 billion in investments nationally to upgrade the grid, Granholm said. AdvertisementAdvertisementThe largest grant, $464 million, will go to improve five transmission projects across seven Midwestern states, from Iowa to North Dakota.
Persons: Biden, Jennifer Granholm, Granholm, Chip Somodevilla, , Mitch Landrieu, Joe Biden, Landrieu, Jonathan Foley, Foley, Tim Walz, Steve Karnowski Organizations: US Energy, Service, Wednesday, Energy, Biden, Resilience, White House, Minnesota Gov, AP, of Commerce, CPS Energy, Consumers Energy, Flint, DTE Energy, Portland General Electric Locations: Maui, California, Georgia, Louisiana, American, Oregon, Iowa, North Dakota, Hawaii, California , Oregon , Utah, Minnesota, Locust Grove, Orleans, San Antonio, Texas , Colorado , New Mexico, Wisconsin, Texas, Michigan, Grand Rapids, Detroit
WASHINGTON (AP) — The Biden administration on Wednesday announced $3.5 billion for 58 projects across the country to strengthen electric grid resilience as extreme weather events such as the deadly Maui and California wildfires continue to strain the nation’s aging transmission systems. Energy Secretary Jennifer Granholm said it was the largest federal investment ever in grid infrastructure, supporting projects that will harden electric systems and improve energy reliability and affordability. The federal spending, combined with money promised by private partners, could result in up to $8 billion in investments nationally to upgrade the grid, Granholm said. Political Cartoons View All 1211 ImagesThe largest grant, $464 million, will go to improve five transmission projects across seven Midwestern states, from Iowa to North Dakota. In southeastern Pennsylvania, PECO Energy Co. will increase grid reliability and resilience through substation flood mitigation and replacing aging infrastructure.
Persons: , Biden, Jennifer Granholm, Granholm, , Mitch Landrieu, Joe Biden, ” Landrieu, , Jonathan Foley, ” Foley, Isabella O'Malley Organizations: WASHINGTON, Wednesday, Energy, Biden, Resilience, White House, Entergy, CPS Energy, DTE Energy, PECO Energy, Portland General Electric, Associated Press Locations: Maui, California, Georgia, Louisiana, American, Oregon, Iowa, North Dakota, Hawaii, California , Oregon , Utah, San Francisco, Locust Grove , Georgia, Orleans, San Antonio, Minnesota, Texas , Colorado , New Mexico, Wisconsin, Texas, Michigan, Detroit, Pennsylvania, New York
JPMorgan reiterates Exxon as overweight JPMorgan said it's standing by its buy rating on the oil and gas giant. Seaport initiates Netflix as buy Seaport said it sees plenty of upside in shares of Netflix. JPMorgan upgrades Eaton to overweight from neutral JPMorgan said the industrial and electrical company is best in class. UBS reiterates Levi's as buy UBS said Levi's is still an attractive stock despite the company's disappointing earnings report Thursday. " JPMorgan upgrades Apellis to overweight from neutral JPMorgan said the pharmaceutical company is well-positioned for more upside.
Persons: Piper Sandler, Bernstein, Disney, XOM, Jefferies, TD Cowen, Cowen, Eaton, Eli Lilly, Doug McMillon, Berenberg, Morgan Stanley, Meta, Levi's, Oppenheimer downgrades O'Reilly, AutoZone, Oppenheimer, it's, Truist Organizations: Disney, Netflix, Hulu, JPMorgan, Exxon, Barclays, Nvidia, Intel, Gaudi, Citi, Discover Citi, DFS, Seaport, Bank of America, Energy, of America, Apple, Vegas, Prix, Clearway Energy, Walmart, United Auto Workers, Auto, Meta, UBS Locations: Parks, NVDA, China, ETN, TEL, AZO, ORLY
The Energy Department has announced a $325 million investment in new battery types that can help turn solar and wind energy into 24-hour power. Batteries are increasingly being used to store surplus renewable energy so that it can be used later, during times when there is no sunlight or wind. The department says the projects will protect more communities from blackouts and make energy more reliable and affordable. “Long-duration battery storage is like a rainy-day savings account for energy storage,” said Jodie Lutkenhaus, professor of chemical engineering at Texas A&M University. This one is led by the California Energy Commission in collaboration with Faraday Microgrids.
Persons: , Christopher Rahn, , Jodie Lutkenhaus, ” Lutkenhaus, Amanda Smith, Faraday, Rejoule, Infrastructure David Crane, Elisabeth Moyer, ” Rahn Organizations: Energy Department, Pennsylvania State University, Texas, M University, , Law, Xcel Energy, Energy, Children's, California Energy Commission, Smart Systems, EV, Canada . Energy, Infrastructure, University of Chicago, AP Locations: Lake, American, Minnesota, U.S, California , New York, Hawaii, Becker , Minnesota, Pueblo , Colorado, California's, Madera, Georgia , California, South Carolina, Louisiana, Petaluma , California, Santa Fe , New Mexico, Canada
MINNEAPOLIS (AP) — Minnesota officials on Thursday approved plans for the expansion of a solar energy project that a utility says will be one of the largest in the country with the capability of powering more than 150,000 homes. The state Public Utilities Commission approved Xcel Energy's expansion of the Sherco Solar project, adding a 250-megawatt array to a 460-megawatt array now under construction. The solar generation will be near an existing coal-fired plant in Becker, Minnesota, northwest of Minneapolis. Political Cartoons View All 1173 ImagesThe commission also approved a plan for Xcel to buy electricity from a planned 100-megawatt solar project in northwestern Wisconsin. The Apple River project in Polk County, northeast of the Twin Cities, is one of the largest solar projects in Wisconsin.
Persons: Xcel Organizations: , Public Utilities Commission, Twin Locations: MINNEAPOLIS, — Minnesota, Becker , Minnesota, Minneapolis, Becker, Wisconsin, Polk County, Twin Cities
The suits allege that downed power lines operated by the company contributed to the deadliest U.S. wildfire in more than a century. The wildfire risk posed by aboveground power lines is well documented. Lives lost, billions in damagesThe Maui fires have killed at least 115 people with hundreds still missing. But Mitchell said insulating aboveground power lines with a protective covering is also an effective solution that is cheaper and can be rolled out more quickly. There is also technology coming to market that can de-energize power lines automatically when there's a problem, he said.
Persons: Mike Blake, Fitch, Berkshire Hathaway's, Paul Starita, They're, Singleton Schreiber, Alexandra von Meier, von Meier, Marshall, Michael Dougherty, Bob Frenzel, Xcel, Berkshire Hathaway, PacifiCorp, aboveground, Scott Aaronson, Aaronson, Joseph Mitchell, Mitchell Organizations: Reuters Electric, Hawaiian Electric, National Weather Service, Hawaii Electric, . Pacific Gas & Electric, PG, Xcel Energy, U.S . Forest Service, University of California, Moody's, Fitch, Electric, Alcohol, Tobacco, Firearms, Explosives, Xcel, Marshall Fire, Marshall, Boulder, Labor, Fire, American Society of Civil Engineers, ASCE, The Edison Electric Institute, California Public Utilities Commission Locations: Lahaina, Maui, Hawaii, U.S, Maui County, Hurricane, California, Berkshire, Berkshire Hathaway's PacifiCorp, Oregon, Colorado, Berkeley, Minnesota, Boulder County, Paradise, Golden
Bank of America reiterates Lululemon as buy Bank of America said it's standing by its buy rating on the stock heading into earnings next week. Bank of America adds Jazz Pharmaceuticals to the US1 list Bank of America added the pharmaceutical company to its top picks list. "We initiate coverage of The Madison Square Garden Entertainment Co. (MSGE) with a Buy rating and a 12-month price objective (PO) of $41, implying ~30% potential upside." Bank of America initiates Gulfport Energy as buy Bank of America said the energy company is undervalued. Stifel reiterates Bowlero as buy Stifel said it's standing by its buy rating on the bowling company.
Persons: Morgan Stanley, Lululemon, LULU, Bernstein, Emerson, Raymond James, Apple, it's, Stifel, Jefferies, Goldman Sachs, JEF Organizations: Bank of America, Jazz Pharmaceuticals, Inc, UBS, GXO Logistics, Mobility, RBC, JPMorgan, Emerson, Mizuho, Edison, FOUR, Apple, Nvidia, AppLovin, Garden Entertainment, The, Garden Entertainment Co, Energy, Xcel Energy, Minnesota & Locations: China, The Madison, Minnesota, Minnesota & Colorado
Morning Bid: ECB to follow Fed hike, Meta surges
  + stars: | 2023-07-27 | by ( ) www.reuters.com   time to read: +5 min
Fed Chair Jerome Powell remained equivocal about whether there was one more policy rate rise left this year and said Fed staff were no longer forecasting a recession - but futures markets continue to see a less than 50% chance of another move. Global stocks (.MIWD00000PUS) hit their highest since April last year on Thursday, with European stocks up more than 1% ahead of the ECB decision. The euro pushed higher against a softer dollar ahead of the announcement and press conference from ECB chief Christine Lagarde. The yen also firmed as the Bank of Japan is expected to keep its easy policy unchanged on Friday. The euro zone's biggest bank BNP Paribas (BNPP.PA), by contrast, beat Q2 estimates and the stock jumped 4%.
Persons: Mike Dolan, Meta, Jerome Powell, Dow Jones, Christine Lagarde, Willis Towers Watson, Giorgia Meloni, Joe Biden, Toby Chopra Organizations: Federal Reserve, European Central Bank, Fed, Treasury, Boeing, Dow, Wall, ECB, Bank of, Shell, Barclays, BNP, Central Bank, Intel, Ford, Boston Scientific, Myers Squibb, Honeywell, Xcel, Eastman Chemical, Pentair, Mastercard, P Global, Hershey, Digital Realty, Northrop Grumman, Weyerhaeuser, Cincinatti, Verisign, Comcast, Southwest Airlines, HCA, . Federal Reserve Board, Washington Reuters Graphics Reuters, Reuters, Exxon, Chevron, Thomson Locations: U.S, Bank of Japan, Asia, Hong Kong, China, Abbvie, Bristol, Edison, Kansas, Basel III, Washington
Swiss bank UBS has revealed a list of "key investment ideas," selecting stocks based on factors such as market conditions, economic trends and government policy. "We focus on the equity asset class and highlight our best single stock ideas in the US tied to select messages," the bank's Chief Investment Office stated in a July 17 research note, adding that its ideas are updated monthly. It also chose wind energy company Xcel Energy , which it said is "well positioned to outperform the S & P Utilities index over the next 12 months." Green investment, infrastructure ideas "Green investment, decarbonization commitments, consumer sentiment, and regulation will continue to drive the case for investing sustainably," UBS said in the note, picking several stocks under the "go sustainable" theme. "The stock ideas listed under key investment ideas reflect current views as of publication," the bank stated.
Persons: Burger King, Carey, telco, — CNBC's Michael Bloom Organizations: UBS, Investment, Brands, Xcel Energy, TJX Companies, Air Products, NextEra Energy, Constellation Energy, U.S Locations: North America, China
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