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A chipmaker was among Monday's biggest analyst calls along with a hospital stock. Morgan Stanley upgraded Micron Technology and raised its price target on the stock — though it sees only limited gains ahead. U.S. Steel shares have dropped more than 26% year to date. The bank upgraded the computer memory stock to equal weight from underweight and increased its price target to $130 per share from $98. He also raised hi 12-month price target to $226 from $189, implying upside of 27% from Friday's close.
Persons: Morgan Stanley, Dell, Samik Chatterjee, Bernstein, Toni Sacconaghi, DELL, — Brian Evans, Jefferies, Christopher LaFemina, LaFemina, Stifel, Ruben Roy, Baird, Tristan Gerra, Tom O'Malley, Brian Evans, Micron Technology Morgan Stanley, Morgan Stanley's, Joseph Moore, Moore, AJ Rice, Rice, Fred Imbert Organizations: CNBC, Micron Technology, UBS, Universal Health Services, JPMorgan, Dell, Jefferies, U.S, Steel, U.S . Steel, Nippon Steel's, Wall, TAM, Nvidia, Barclays Locations: U.S, Friday's
Here are Monday's biggest calls on Wall Street: Melius reiterates Apple as buy Melius said it sees several positive catalysts ahead for Apple. Bernstein reiterates Dell as outperform Bernstein raised its price target on the stock to $155 per share from $120. Goldman Sachs reiterates Amazon as buy Goldman said it's standing by its top pick status on shares of Amazon. " Barclays reiterates Nvidia as overweight Barclays raised its price target on Nvidia to $1,100 from $850. Morgan Stanley upgrades Micron to equal weight from underweight Morgan Stanley raised its price target on Micron to $130 per share from $98.
Persons: Melius, Bernstein, Dell, Stifel, Baird, Goldman Sachs, Goldman, , Huntington Ingalls, it's, it's bullish, Redburn, Tesla, Morgan Stanley, Salesforce, Jefferies, Evercore, TJX Organizations: Apple, Developers, Citi, RIO, Nvidia, Barclays, Robotics, Group, Marex Group, Micron, Hasbro, U.S . Steel, UBS, Universal Health Services, JPMorgan, TJX Companies, SSS, Seaport, FedEx, US Locations: Tinto, America, Cleveland, China
The TCJA reduced federal income tax rates across the board, with the top rate falling to 37% from 39.6%. That would return the federal income tax rates to 10%, 15%, 25%, 28%, 33%, 35% and 39.6%. In the meantime, some higher earners have been leveraging lower income tax rates through 2025 by incurring income now, experts say. The standard deduction could fallWhen filing taxes, you claim the standard deduction or itemized deductions, whichever is greater. Before 2018, about 70% of taxpayers claimed the standard deduction, compared with 90% in tax year 2020, according to the Tax Policy Center.
Persons: Donald Trump, Michael M, Erica York, Roth, it's, Gleckman, Robert Dietz Organizations: Santiago, Getty, Tax, Center, Federal Tax, Senate, Bernstein Private Wealth Management, CNBC Locations: Wildwood Beach, Wildwood , New Jersey, California , New Jersey, New York, Minneapolis
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBrands focused on high-end consumers are doing very well indeed, says analystLuca Solca, managing director and sector head of global luxury goods at Bernstein, joins Squawk Box Europe to discuss the sector-wide slowdown in luxury after a recent slew of big-brand earnings.
Persons: Luca Solca Organizations: Email Brands, Bernstein
Big Tech is expected to spend $200 billion on assets like equipment in 2024, a Bernstein note said. At that rate, Big Tech's spending on capex could surpass $1 trillion in four to five years. AdvertisementBig Tech is spending big on the AI arms race. In the next five years, spending by Big Tech on fixed assets — also known as capital expenditures, or capex — could surpass $1 trillion, Bernstein analysts said. The majority of Big Tech's capital expenditures go toward technical infrastructure such as land, data centers, servers, and networking equipment.
Persons: Bernstein, Organizations: Big Tech, Service, Microsoft, Google, Apple, Big, Business
In today's big story, we're looking at how Zyn nicotine pouches are becoming the new weight-loss quick fix . A new weight-loss quick fix is making the rounds just in time for summer's unofficial start (Memorial Day), but this one relies on a highly addictive drug. However, one doctor Hilary spoke to has concerns about the effects of using nicotine to lose weight. Wilson, Amazon, Albany Times Union/Hearst Newspapers/Getty, Creative Crop/Getty, Tyler Le/BIOf course, you don't have to rely on a highly addictive drug to lose weight. Disney CEO Bob Iger said he's giving too much money to the Big Tech app stores that distribute Disney-owned streamers like Hulu and Disney+.
Persons: , Michael M, Rebecca Zisser, Hilary Brueck, Mia de Graaf, Hilary, they're, They're, Wilson, Tyler Le, I'm, BI's Jordan Hart, padel, Gabby Landsverk, Jamie Dimon Jamie Dimon, Jerome Powell, Bob Iger, Bernstein, Rouco, Zers, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, HBO, Business, Getty, bros, Albany Times Union, Hearst Newspapers, Creative, CNBC, JPMorgan, GameStop, Disney, Big Tech, Hulu, Google, Big, Microsoft, Wall Street, Citi Locations: Amazon, China, Ireland, Australia, millennials, New York, London
Bitcoin's resurgence has triggered a wave of wallet retrieval attempts, Reuters reported. Firms that specialize in this have noted a surge in retrieval requests this year. By one estimate, around 20% of circulating bitcoin could be stuck in locked wallets. AdvertisementFor wallet retrieval firms, the spike in interest is profitable. Upon successful retrieval, both ReWallet and WRS charge a fee of 20% of the wallet's contents, Reuters said.
Persons: , ReWallet, WRS, it's, Bernstein Organizations: Reuters, Firms, Service, ReWallet, Chartered Locations: Germany
It came almost 12 months after Google combined two key AI groups, DeepMind and Google Brain. Google's AI MVPGoogle DeepMind CEO Demis Hassabis GoogleDemis Hassabis might be the most important person at Google right now. Then, in April last year, Pichai announced he would merge DeepMind with Google's in-house AI unit, known as Brain, into a supergroup named Google DeepMind. Reid reports directly to Raghavan, the ads and search senior vice president, and is shepherding a dramatic transition of Google Search. Fears of chatbots eating into Google's search dominance have yet to be realized, giving Google time to reinvent its most hallowed product.
Persons: , Sundar Pichai, Pichai, Susan Wojcicki, Demis, Hassabis, Larry Page, DeepMind, OpenAI, it's, accrues, ED JONES, Rick Osterloh, Sameer Samat, he'll, Hiroshi Lockheimer, Osterloh, Prabhakar Raghavan, Siri, Tim Cook, Hiroshi, SAJJAD HUSSAIN, Liz Reid, Reid, Raghavan, Pandu Nayak, Venkatachary, It's, chatbots, Bernstein, Mark Shmulik Organizations: Service, Google, Business, Google's, BI, Research, Hassabis, Android, Apple, Apple's Vision, CNBC, Google Local Locations: Raxium
Here are the biggest calls on Wall Street on Wednesday: UBS reiterates Nvidia as buy UBS said it's standing by its buy rating heading into Nvidia earnings next week. Wells Fargo names Natera a top pick Wells said the fertilizer company is a new top pick at the firm. Morgan Stanley resumes Exxon as overweight Morgan Stanley resumed coverage of the stock and says it has "attractive growth at a compelling valuation." Morgan Stanley reiterates Palo Alto as overweight Morgan Stanley said it's bullish on shares of Palo Alto heading into earnings next week. Morgan Stanley names Dell a top pick Morga Stanley raised its price target on the stock and says it remains a best idea.
Persons: it's, Cantor Fitzgerald, Tesla, Canto, Tesla's, Wells, CTVA, KeyBanc, TD Cowen, Janus Henderson, Morgan Stanley, Palo, Bernstein, Mills, Campbell, underperform Bernstein, Wolfe, SunPower, Dell, Morga Stanley, Stephens, Truist, Oppenheimer, Will, DA Davidson Organizations: UBS, Nvidia, " Bank of America, Bank of America, Alphabet's, Google, JPMorgan, China, Deutsche Bank downgrades, Deutsche, Fair, Six, Sciences, NTR, Netflix, Energy, Palo Alto, Palo, Food, Tech, Barclays, General Motors, Holdings, ALC, Apple, Apple's Worldwide Developer's Conference, Will Apple, Walmart, D.A Locations: OW, Palo Alto, U.S
"They can't do any more to Boeing," Cramer said. When you go after a person, that's jail time, and that's how you fix things, unfortunately. Wells Fargo raised its price target on Toll Brothers to $150 per share from $142 ahead of next week's earnings. "It is the key to the market," Cramer said, before pointing to a Dell stock chart and circling the day of Nvidia 's GTC conference. Cramer added, "You've got to go to Dell, and that's been off to the races ever since then."
Persons: Jim Cramer's, Jim Cramer, Cramer, Wells Fargo, would've, They're, Morgan Stanley, Jensen, Michael Dell, You've, that's, Mills, Campbell, Bernstein, Kellogg Organizations: CNBC, Club, Boeing, Justice Department, CPI, Dell Technologies, Dell, Nvidia
Michael Cohen and Rosie O’Donnell: A Love Story
  + stars: | 2024-05-15 | by ( Jacob Bernstein | ) www.nytimes.com   time to read: +1 min
The text came through on Michael D. Cohen’s iPhone on Monday morning, shortly before he took the stand in a Manhattan courtroom as the star witness in the criminal case against his former boss, Donald J. Trump: “breathe - relax - tell the truth - u got this - i love u.”An hour later, another text came in from the same person: “Ur doing great.”“Thank you and truly love you,” Mr. Cohen wrote back to the sender, who was not his wife, either of his children or another family member, but the comedian and actress Rosie O’Donnell. Politics, the cliché goes, makes strange bedfellows. But few relationships seem as unlikely as the intense bond that has developed between Mr. Cohen and Ms. O’Donnell, two Long Island natives of the same generation who were pulled into Mr. Trump’s force field in vastly different ways years ago, and who connected as they surveyed the damage afterward. It is not lost on Ms. O’Donnell, 62, that Mr. Cohen, 57, once helped carry out Mr. Trump’s campaign of insults against her, tormenting her for her looks and her weight and calling her “wacko.”
Persons: Michael D, Donald J, , Mr, Cohen, Rosie O’Donnell, O’Donnell, Trump’s, Organizations: Trump, Mr Locations: Manhattan, Long
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMcDonald's new value platform will be a tailwind, says Barclays Jeffrey BernsteinJeffrey Bernstein, Barclays senior restaurant analyst, joins 'Power Lunch' to discuss the consumer health in restaurants and McDonald's latest moves to attract lower-end customers back in stores.
Persons: Barclays Jeffrey Bernstein Jeffrey Bernstein Organizations: Barclays
The return of "Roaring Kitty" sparked a jaw-dropping advance in GameStop shares Monday, but such a speculative rally in an unprofitable company will likely end badly once again. Roaring Kitty, the man who inspired the meme stock mania of 2021, resurfaced online with a cryptic image showing a man in a chair leaning forward. GME 5D mountain GameStop Pachter has a underperform rating on GameStop and a $5.60 price target. At Monday's peak, GameStop hit $38.20. During 2021's mania, GameStop shares hit an all-time high of $120.75 intraday, adjusted for a subsequent 4-for-1 stock split in the summer of 2022.
Persons: Kitty, Michael Pachter, Pachter, Jeff deGraaf, he's, deGraaf, Jerome Powell, Bernstein, Mark Schilsky Organizations: GameStop, CNBC, Federal Reserve, Macro
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe rebound market still has room to run, says Richard Bernstein's Dan SuzukiDan Suzuki, Richard Bernstein Advisors deputy CIO, joins CNBC's 'The Exchange' to discuss stocks' current rally, sectors with the most opportunity, and more.
Persons: Richard Bernstein's Dan Suzuki Dan Suzuki, Richard Bernstein
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple doesn't have to get into the AI sphere by itself, says Bernstein's Toni SacconaghiToni Sacconaghi, Bernstein senior research analyst, joins 'Squawk Box' to discuss Apple's labor developments at its retail stores, the company's AI strategy, and more.
Persons: Bernstein's Toni Sacconaghi Toni Sacconaghi, Bernstein
"We see risk-reward on AAPL as positive, and rate the stock Outperform with a price target of $195." Barclays reiterates Micron as overweight Barclays raised its price target on the stock to $145 per share from $120. Evercore ISI adds a tactical outperform on Walmart Evercore added Walmart to its tactical outperform list ahead of earnings later this week. Evercore ISI adds a tactical outperform on Target Evercore added Target to its tactical outperform list ahead of earnings on May 20. "Following SEDG's 1Q results last week, we are downgrading SEDG to a Neutral and lowering our price target to $56 as the timing of a recovery remains cloudy."
Persons: Bernstein, Apple, Jefferies, it's, Wells, Piper Sandler, Piper, Bank of America downgrades Penn, Guggenheim, Tesla, We've Organizations: Apple, Nvidia, Barclays, Micron, HSBC, Delta, American Airlines, JPMorgan, Netflix, UBS, Visa, Mastercard, Walmart, Target, Royal Bank of Canada, HSBC Canada, Nexstar, Susquehanna, Bank of America, Penn Ent, ESPN Bet, Tesla, GE Aerospace, GE, Gemini Locations: Delta, United, America
"We see risk-reward on AAPL as positive, and rate the stock Outperform with a price target of $195." Barclays reiterates Micron as overweight Barclays raised its price target on the stock to $145 per share from $120. Evercore ISI adds a tactical outperform on Walmart Evercore added Walmart to its tactical outperform list ahead of earnings later this week. Evercore ISI adds a tactical outperform on Target Evercore added Target to its tactical outperform list ahead of earnings on May 20. "Following SEDG's 1Q results last week, we are downgrading SEDG to a Neutral and lowering our price target to $56 as the timing of a recovery remains cloudy."
Persons: Bernstein, Apple, Jefferies, it's, Wells, Piper Sandler, Piper, it's bullish, Bank of America downgrades Penn, Guggenheim, Tesla, We've Organizations: Apple, Nvidia, Barclays, Micron, HSBC, Delta, American Airlines, JPMorgan, Netflix, UBS, Wells, Visa, Mastercard, Walmart, Target, Royal Bank of Canada, HSBC Canada, Nexstar, Susquehanna, Bank of America, Penn Ent, ESPN Bet, Tesla, GE Aerospace, GE, Gemini Locations: Delta, United, America
Wedbush reiterates Apple as outperform Wedbush said it's standing by its outperform rating on shares of Apple . Bank of America reiterates Palantir as buy Bank of America said it's standing by its buy rating on shares of Palantir. Bank of America initiates Apogee Therapeutics at buy Bank of America said the biotech company has best-in-class potential. Bank of America upgrades Bumble to buy from neutral Bank of America sees "multiple expansion" for the dating app company. Bank of America reiterates Walmart as buy Bank of America said it's bullish heading into Walmart earnings on May 16.
Persons: Bernstein, Wedbush, Palantir, Wells, CRNC, Stifel, TD Cowen, Morgan Stanley, Raymond James, it's, Bumble, Lear, Tesla, Oppenheimer, Guggenheim Organizations: Nvidia, Citi, Cheesecake, Apple, Worldwide, " Bank of America, Bank of America, Mizuho, Apogee Therapeutics, Warner Brothers Discovery, HSBC, TPG, of America, Dominion, underperform Bank of America, Dominion Energy, Barclays, Nike, Walmart, Supercenters, Moffett Locations: WWDC, Palantir, OW, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMiddle East tensions: Disruption to oil supply is unlikely at this stage, analyst saysNeil Beveridge, senior oil and gas analyst at Bernstein, discusses the tit-for-tat between Iran and Israel, and says "$80-$90 a barrel is really where fundamentals are pointing for oil right now," adding that there's a "limited chance that we'll see … things really getting out of hand."
Persons: Neil Beveridge, Bernstein Locations: Iran, Israel
The top of the petition was folded underneath itself, so that the names of the candidates were not visible, Ms. Bernstein said. The campaign needs 45,000 but is aiming for more than 100,000. Candidates often collect far more signatures than they need in case some end up being invalidated for various reasons. “At a minimum, it’s misleading,” Ms. Bernstein said of the interaction. “I was just pretty much taken aback.”
Persons: Amy Bernstein, Bernstein, , Robert F, Kennedy Jr, Ms, Locations: Brooklyn, New York, New York State
(This is CNBC Pro's live coverage of Wednesday's analyst calls and Wall Street chatter. A closely watched electric vehicle maker and a cloud software company were among the talked stocks by analysts on Tuesday. "We move to Sell given the increased lack of visibility around an inflection in the aforementioned trends," said analyst Kash Rangan. – Samantha Subin 6:19 a.m.: Wall Street reacts to Reddit's first earnings print as a public company Reddit's first earnings report since hitting the public markets in March is garnering some mixed responses from Wall Street analysts. "Its limited production and commercial history leaves much to be seen," he wrote "Rivian must prove it can acquire the customer base, while maintaining low advertising costs."
Persons: there's, Baird, Goldman Sachs, Kash Rangan, Rangan, – Samantha Subin, Mark Shmulik, Reddit, Doug Anmuth, Bank of America's Justin Post, Citi's Ronald Josey, Samantha Subin, Mark Delaney, Rivian, Dan Levy, RIVN, Wells Fargo's Colin Langan, Langan, Datadog Baird, Amit Agarwal, Will Power, DDOG, Power, Fred Imbert Organizations: CNBC, ZoomInfo Technologies, Wall Street, Google, Bank of America's, Barclays, Datadog, Cisco Locations: Rivian, Datadog
U.S. stocks have been rather volatile in the past month, but in the past week they had a strong run on hopes of rate cuts. Tech stocks, which would be boosted by rate cuts, have been a big part of that rally — with Meta , Alphabet and Amazon in particular having a strong showing over the past couple of weeks. Elsewhere, analysts are getting more optimistic on China stocks, especially those in the tech sector. Kevin Liu, managing director and strategist at CICC Research, said his conviction call would be a structural barbell allocation with themes including tech names "with high-end upgrading opportunities," among others. Stock screen Against this backdrop, CNBC Pro screened FactSet for stocks from four exchange-traded funds (KraneShares CSI China Internet ETF, Vanguard Information Technology ETF, Invesco China Technology ETF and the iShares MSCI China Multisector Tech ETF) to find stocks that: have beaten the S & P 500's around 9% year-to-date performance.
Persons: Bernstein, Kevin Liu Organizations: Dow Jones, Tech, UBS, CICC Research, CNBC Pro, CSI China Internet, Vanguard Information Technology, China Technology ETF, China Multisector Tech Locations: China
For a celebrity, being referenced in a Taylor Swift song can cause a PR crisis. Advertisement"He's showing due deference to the power of Taylor Swift," Nierman said. The Kim Kardashian method: Let anonymous sources do the talkingTaylor Swift and Kim Kardashian at the 2015 VMAs. "I don't think Taylor Swift really needs to negotiate with anyone. Advertisement"Everything is done for a reason and any person would be a fool to bet against or to cross Taylor Swift," Nierman said.
Persons: Taylor, Joe Alwyn, Matty Healy, Kim Kardashian, , Taylor Swift, Swift, Healy, TMZ, reveling, artfully, Robert Kamau, who's, Evan Nierman, Banyan, John, recoils, Erik Bernstein, Bernstein, hasn't, Nierman, Healy's, what's, Jackson Lee, Alwyn hasn't, Alwyn, Kevin Mazur, Aimee, aIMee, KIM, Kardashian, it's, John Mayer Organizations: BI, Service, Poets Department, Getty, Department, Swift, Rights Locations: New York City, London, Cincinnati , Ohio
One reason the Met Gala after-parties are nearly as famous as the Met Gala itself has to do with an incident that took place 10 years ago at the Standard Hotel in the West Village of Manhattan. On that night, Beyoncé was a star of the red carpet at the Metropolitan Museum of Art, along with her husband, Jay-Z, and her sister Solange Knowles. Afterward, in an elevator car headed to the Boom Boom Room, the club on the top floor of the Standard, Solange attacked her brother-in-law while Beyoncé stood watching and a bodyguard tried to restore order. The security-cam footage leaked to TMZ and the internet, and a family fight became the stuff of New York social lore. Connie Fleming, the hotel’s longtime doorwoman, reflected on the changes in the social atmosphere since the heady days of 2014.
Persons: Beyoncé, Jay, Solange Knowles, Solange, Christian Siriano, Coca Rocha, Connie Fleming Organizations: of, Metropolitan Museum of Art, TMZ Locations: West, of Manhattan, York
China stocks have staged such a strong rally after a protracted slump for the past few years that they're beating even the S & P 500 so far this year. The MSCI China index, which includes the mainland A-shares, Hong Kong-listed shares and U.S.-listed China names, has jumped around 9%, while the KraneShares CSI China Internet ETF is up around 13%. Most analysts said whether the rally can be sustained will largely depend on China policy. How to play China Though most were bullish on China stocks, they would be selective in stock-picking. They include: SPDR S & P China ETF iShares MSCI China A ETF Global X MSCI China Consumer Disc ETF iShares MSCI Hong Kong ETF — CNBC's Michael Bloom contributed to this report.
Persons: Bernstein, it's, , Goldman Sachs, Kevin Liu, CICC, Nomura's, Goldman, Kweichow, Ping, Morningstar, Michael Bloom Organizations: U.S, CSI China, Investors, CICC Research, CNBC, BYD, SAIC, Changan Automobile, Energy, Anhui, Cement, JPMorgan, Kuaishou, Ping An Insurance, China Merchants Bank, Hong, China, iShares, China Consumer Locations: China, Hong Kong
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