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An obesity beneficiary and a snack foods company are just a few of the top stocks to buy in December, analysts said this week. Wall Street research firms named a slew of companies that they believe have upside heading into the years end. Obin said the company has a "preponderance" of margin tailwinds for 2024, including "differentiated auto exposure, underappreciated margin expansion opportunities, and best-in-class execution." "We are including BUY-rated EL in our research team's Best-of-Breed Bison initiative, which focuses on long-term best-in-class companies with sustainable competitive moats," analyst Linda Bolton Weiser said earlier this week. Estee Lauder — DA Davidson, buy rating "We are including BUY-rated EL in our research team's Best-of-Breed Bison initiative, which focuses on long-term best-in-class companies with sustainable competitive moats.
Persons: Estee Lauder, Gracell Biotechnologies, Eli Lilly, Andrew Obin, Obin, it's, Nik Modi, Modi, MDLZ, Mondelez, LSEG, Estee Lauder DA Davidson, Linda Bolton Weiser, Bolton Weiser, Gracell, Eli Lilly — Morgan Stanley, Estee Lauder —, Davidson Organizations: CNBC, ITT, Gracell, Bank of America, RBC, ISI, pharma, ITT — Bank of America
James Gorman, chairman and chief executive of Morgan Stanley, speaks during the Global Financial Leader's Investment Summit in Hong Kong, China, on Tuesday, Nov. 7, 2023. The de-facto central bank of the Chinese territory is this week holding its global finance summit for a second year in a row. Photographer: Lam Yik/Bloomberg via Getty ImagesSINGAPORE — Morgan Stanley Chairman and CEO James Gorman said his firm will be able to cope with "any form" that new banking regulations end up taking, but added he expects some watering down before the final rules are confirmed. U.S. regulators on Tuesday defended their plans for a sweeping set of proposed changes to banks' capital requirements, speaking in front of the U.S. Senate Banking Committee. These proposed changes in the U.S. seek to incorporate parts of international banking regulations known as Basel III, which was agreed to after the 2008 crisis and has taken years to roll out.
Persons: James Gorman, Morgan Stanley, Lam Yik, Getty Images SINGAPORE — Morgan Stanley, it's, Gorman, Morgan, I've Organizations: Financial, Investment, Bloomberg, Getty Images SINGAPORE, U.S . Senate Banking Committee, Basel III, CNBC, Pacific, Federal Reserve, Fed Locations: Hong Kong, China, U.S, Basel, , Morgan Stanley's, Asia, Singapore, New York
As a result of these unexpected swells, Morgan Stanley now projects 1.9% GDP growth for the first half of this year. Morgan Stanley's revision came at a pivotal time for the Biden White House. "Together we are transforming the country, not just through jobs, not just through manufacturing, but also by rebuilding our infrastructure," Biden said Thursday during a visit to a Philadelphia shipyard. The White House has dubbed this brick-and-mortar economic growth formula "Bidenomics," a phrase originally used by Republicans to jab the president, who co-opted the term as a badge of honor. "This report confirms what we've long said: Our strong and resilient economy is Bidenomics in action," White House assistant press secretary Mike Kikukawa said in an email to CNBC.
Persons: Joe Biden, Jill Biden, WASHINGTON — Morgan Stanley, Joe Biden's, Ellen Zentner, Morgan Stanley, That's, Zentner, Morgan Stanley's, Biden, Kevin McCarthy, Mike Kikukawa Organizations: Marine, WASHINGTON, Biden's Infrastructure Investment, Jobs, Biden White House, Philadelphia shipyard, CNBC, America Economic Survey, Republicans, House Locations: Washington , DC, U.S, Philadelphia, America
The company's chief rival, Denmark-based Novo Nordisk (NVO), also published promising data on drugs in its pipeline, including its own oral weight-loss treatment. Other pharmaceutical companies are racing to compete with Novo Nordisk and Eli Lilly, including Amgen (AMGN) and Pfizer (PFE). Barclays on Tuesday projected Eli Lilly's three leading obesity-and-diabetes drugs could generate nearly $49 billion in combined sales in 2030. Eli Lilly Eli Lilly has multiple drugs in development that fall under the GLP-1 umbrella in various stages of clinical development. Novo Nordisk Novo Nordisk currently dominates the market for GLP-1 drugs, with three products in the class on the U.S. market already: Ozempic, Wegovy and Rybelsus.
Persons: It's, Eli Lilly, Eli Lilly's, retatrutide, Lilly, there's, Lilly's, Geoff Meacham, Eli Lilly Eli Lilly, Jim Cramer, Evan David Seigerman, , — Morgan Stanley, Wegovy, Rybelsus, Jim Cramer's, Jim, Mike Segar Organizations: Club, Novo Nordisk, New England, of Medicine, American Diabetes Association, Pfizer, Reuters, Barclays, Bank of America, CNBC, JPMorgan, Drug Administration, Equity, BMO Capital, Novo Nordisk Novo Nordisk, GLP, FDA, Nordisk, Company Locations: San Diego, Denmark, GLP, It's, Novo, Novo Nordisk's, Branchburg , New Jersey
CNBC Pro combed through top research to find stocks best positioned for multiyear growth. "A multi-year growth story & we're just getting started," the analyst said. "If that's the case, we see the firm's current valuation as at least sustainable, if not with bias to the upside as conviction builds in the multiyear growth story," he wrote. Entegris — BMO Capital Markets, outperform rating "A Multi-Year Growth Story & We're Just Getting Started. If that's the case, we see the firm's current valuation as at least sustainable, if not with bias to the upside as conviction builds in the multiyear growth story."
Persons: Bhavesh Lodaya, Lodaya, David Hynes Jr, Hynes, Matthew Smith, Smith, Westrock, Macy's —, — Morgan Stanley, Bloom, Conway, Sprout Organizations: CNBC, Bloom Energy, Entegris BMO Capital Markets, Sprout, Westrock, Macy's — JPMorgan, BMO Capital Markets Locations: Rock , Arkansas
It's good to be Morgan Stanley these days. Amid a difficult market for Wall Street banks — thanks in large part to non-existent deal flow — Morgan Stanley's massive wealth business has been paying off big time. But Morgan Stanley's success isn't coming in a vacuum. -Meanwhile, UBS, arguably Morgan Stanley's biggest competitor in the space, was begrudgingly saddled with Credit Suisse's carcass. With wealth advisors, a key part of hiring includes offering "bonuses" that are actually loans.
Wall Street analysts unveiled a slew of must-own stocks this week even as bank and macroeconomic worries permeate the market. While some investors might be distracted by the ongoing financial turmoil, analysts say there are plenty of quality buying opportunities. They include: TrueCar, Apple, Progressive, Academy Sports and Prosperity Bancshares. Apple Morgan Stanley is doubling down on Apple shares. Apple shares are up almost 20% since the start of the year.
The Kohl's logo is displayed on the exterior of a Kohl's store on January 24, 2022 in San Rafael, California. Check out the companies making the biggest moves in premarket trading:Colgate-Palmolive — The maker of household and personal care products saw shares add more than 1% premarket after Morgan Stanley analysts upgraded the stock to overweight from equal weight. Boot Barn — The retailer was downgraded to neutral from outperform by Baird, which cited concerns over macroeconomic risks for the sector. Boot Barn shed 2.5% during premarket trading. The stock, however, was down more than 1% in premarket trading.
That's likely to make off-price retailers like Club holding TJX Companies (TJX) even more attractive to many Americans looking for cost-saving deals in the new year. Total retail sales in the U.S. dropped 1.1% in December month-on-month, the Commerce Department said Wednesday, in the second consecutive monthly decline. Retail sales had fallen by 1% in November. Morgan Stanley analysts expect off-price retailers to benefit from consumers shifting spending habits away from high-end shopping toward discounts. Off-price retailers like TJX have a great opportunity to snag a wide range of merchandise from big-box retailers with elevated inventory for very cheap prices.
Check out the companies making the biggest moves midday:Goldman Sachs — The bank slid more than 2% after reporting earnings-per-share and revenue that missed Wall Street estimates Tuesday. Morgan Stanley — Morgan Stanley's earnings topped Wall Street expectations Tuesday, thanks, in part to record wealth management revenue. Global Payments — Morgan Stanley upgraded Global Payments to overweight from equal weight on Tuesday, citing a more favorable competitive backdrop and attractive valuation, among other things. Church & Dwight — Morgan Stanley upgraded the consumer goods maker to overweight from equal weight and boosted its price target to $91 from $82. Alibaba — Activist investor Ryan Cohen built a stake in the Chinese e-commerce giant, according to the Wall Street Journal.
Embracing sustainability doesn't have to come at the expense of financial performance — Morgan Stanley named several European companies it says have managed to show just that. These stocks are rated overweight and have average upside of around 20% to 35%, the bank added. Morgan Stanley described the company as a "global leader" in cement decarbonization, and its "ambitious" medium-term decarbonization target puts it in a "league of its own." Morgan Stanley also named German utility firm RWE on its list. The bank estimates that RWE will achieve around 16 billion euros ($17 billion) of free cash flow in 2023.
China's housing prices fell in October due primarily to falling prices in less developed, so-called Tier-3 cities, according to Goldman Sachs analysis of official data. Future Publishing | Future Publishing | Getty ImagesBEIJING — China's real estate sector isn't yet poised for a quick recovery, despite a rally this month in stocks of major property developers. Last week, property developer stocks surged after news the central bank and banking regulator issued measures that encouraged banks to help the real estate industry. A drawn-out recoveryAnalysts differ on when China's property market can recover. "I think the real estate sector will become lesser of a drag to the economy in 2023," Tommy Wu, senior China economist at Commerzbank AG, said Wednesday.
Citigroup — Citigroup rose more than 1% after its third-quarter revenue climbed more than analysts expected, helped by rising interest rates. However, its earnings fell 25% from the year-earlier period as it bulked up its credit loss provisions and investment banking slumped. Wells Fargo — The bank stock was up 3% after Wells Fargo reported quarterly earnings and revenue that topped analysts' expectations. US Bancorp - Shares of US Bancorp rose 3.7% after the bank's third-quarter earnings came in above Wall Street analyst expectations. First Republic Bank — The bank stock dropped more than 14% after First Republic posted its third-quarter results.
WASHINGTON— Morgan Stanley will pay $35 million to settle allegations that it scrapped computer servers and hard drives without ensuring they no longer held sensitive customer information, regulators said. Some of the computer hardware was resold with customer data still on it, according to the Securities and Exchange Commission. The brokerage and money-management firm agreed to pay the fine without admitting or denying wrongdoing, the SEC said.
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