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Has the time arrived for the stock to break free from a range heading into earnings next week? There has been much hype around this emerging Swiss company that grew revenues by 68% in 2022, 46% in 2023, and are expected to grow revenues by more than 25% in 2024 and 2025. Technically speaking ,that range of overhead resistance for On Holding (ONON) is easy to see on the weekly chart below. There was weekly downtrend line resistance originating from the 2022 high that was broken in Q1 '24. On earnings ahead Heading into earnings, I think it's wise to refer back to Q4 of 2023 earnings announced on March 12.
Persons: Shoemaker, I've, CROX, Todd Gordon, Gordon, ONON Organizations: Nike, Air, swiss, Inside Edge, Edge Capita Locations: Swiss, U.S, SKX
With the Fed, Apple earnings and the jobs report passing with flying colors this week, the runway to more gains looks a lot less cluttered. This past week was chock full of Club earnings: 12 portfolio companies, including Apple , delivered results. Analysts expect Wynn's earnings per share of $1.27 versus 29 cents a year ago when China was not fully back from Covid. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jerome Powell, we're, Jim Cramer, Jim, Apple, Eli Lilly, Estee Lauder, Stanley Black, Decker, Bausch, FactSet, It's, Bob Iger, Iger, Nelson Peltz, We're, Krystal, Berkshire Hathaway, Tyson, Jones Lang, Walt, Ferrari N.V, WK Kellogg, Wynn, Vishay, CRON, MARA, RICK, Ginkgo, Jim Cramer's, David Paul Morris Organizations: Federal Reserve, Apple, GE Healthcare, DuPont, Linde, Bausch Health, Coterra Energy, Club, Disney, Wynn Resorts, CNBC, Revenue, Vegas Sands, Cotai, Boston, Airlines, Krystal Biotech, Alpha Metallurgical Resources, Axsome Therapeutics, Tyson Foods, TSN, Bowlero Corp, CNA Financial Corp, CNA, Jones Lang LaSalle Incorporated, Technologies, Realty Income Corp, Lab, Teradata Corp, Technology, FMC Corporation, FMC, Paymentus Holdings, Shockwave, Vertex Pharmaceuticals, Goodyear Tire & Rubber Company, Simon Property Group, Sterling Construction Company, Apple Hospitality, Boise Cascade Corporation, BellRing Brands, Coty, COTY, Fidelity National Information Services Inc, Vornado Realty, Walt Disney Co, Holdings, Madrigal Pharmaceuticals, Nikola Corporation, BP, Rockwell Automation, MarketAxess Holdings, Jumia Technologies, GEO Group, Builders FirstSource Inc, Duke Energy Corp, WYNN, Rivian Automotive, Arista Networks, Occidental Petroleum Corp, Astera Labs, Bros, Flywire Corporation, B2Gold Corp, Kinross Gold Corp, Virgin Galactic Holdings, iRobot Corp, Electronic Arts Inc, McKesson Corp, ACM Research, Avadel Pharmaceuticals, Toyota Motor Corp, Emerson Electric Co, Perion, Editas, Brink's Company, Sinclair Corporation, New Fortress Energy, Starwood Property Trust, Animal Health, ELAN, Farms, IM Cannabis Corp, Fox Corporation, Formula One, Icahn Enterprises, Teva Pharmaceutical Industries, Arm Holdings plc, ARM, AMC Entertainment Holdings, Trade, AppLovin Corporation, Sciences Corp, SolarEdge Technologies, Roblox Corporation, GigaCloud Technology Inc, Warner Bros ., Properties Trust, Growers, Constellation Energy Group, Cronos, Fiverr, Solar Inc, EPAM Systems, Cedar Fair Entertainment, Digital Holdings, RCI Hospitality Holdings, Akamai Technologies, Semiconductor, Insulet Corp, NuScale Power Corporation, Ginkgo Bioworks Holdings, Bloom Energy Corporation, Construction, AMC Networks, CRH Public Ltd . Company, Jim Cramer's Charitable, Allen, Co . Media, Technology Conference, Bloomberg, Getty Locations: China, Eaton, Amazon, Covid, Macao, Vegas, Sun Valley , Idaho
Morgan Stanley initiates Compass Pathways at overweight Morgan Stanley said in its initiation of Compass that it's bullish on shares of the mental health biopharma company. Morgan Stanley reiterates Taiwan Semiconductor as overweight Morgan Stanley said it's standing by its overweight rating on shares of TSM. Morgan Stanley reiterates Delta as a top pick Morgan Stanley said Delta's push into "premium" will reward investors. Bank of America reiterates Micron as buy Bank of America said it sees further share gains for Micron. Morgan Stanley reiterates Planet Fitness as overweight Morgan Stanley said it's standing by its overweight rating on the fitness company.
Persons: Jefferies, Goldman Sachs, Goldman, it's, it's bullish, Hunt, Werner, Robinson, Morgan Stanley, Delta, Wells, Evercore, Bill, Tesla, Oppenheimer, Sweetgreen, Baird downgrades, Baird, Tommy Bahama Organizations: Microsoft, Barclays, Barclays downgrades J.B, J.B, C.H, Taiwan Semiconductor, DAL, " Bank of America, Nvidia, Broadcom, Bank of America, Micron, Devon Energy, Bloom Energy, Energy, Disney, underperform Bank of America, Baird downgrades Fifth, Bancorp, Royal Caribbean, Citi, Citigroup Inc, Royal Caribbean Cruises Ltd, TPG Inc, TPG, TE Connectivity, Chevron Corp, Citi downgrades Oxford Industries Locations: TSM, Wells Fargo, Devon, F1Q, Cincinnati, Royal, Oxford
Wall Street wrapped up another positive week, with the S & P 500 closing Friday above 5,000 for the first time ever. It was a pretty light week in terms of economic data releases, though we did get a favorable ISM Services number on Monday. Things will pick up next week with several closely watched macroeconomic updates, including two key government inflation reports. While no Club earnings are scheduled to report earnings in the week ahead, 61 companies in the S & P 500 will deliver their latest quarterly results. Consumer inflation: The main event of the week will come on Tuesday when the January consumer price index (CPI) is released.
Persons: Estee Lauder, Eli Lilly, Price, Bausch, Trimble, Krispy Kreme, Topgolf, Kraft Heinz, Martin Marietta, Owens Corning, WEN, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Club, GE Healthcare, DuPont, Linde, Ford, Disney, Wynn Resorts, CPI, PPI, Palo Alto Networks, Nvidia, Bausch Health, Arista Networks, WM, Cadence Design Systems, ZoomInfo Technologies, Avis Budget, Brighthouse, Goodyear Tire &, Vornado Realty, Marriott International, Hasbro, Restaurant Brands, Molson Coors Beverage, Holdings, MGM Resorts, MGM, Akamai Technologies, American International Group, AIG, Topgolf Callaway Brands, CME Group, Sony, SONY, Blackstone Mortgage Trust, Martin Marietta Materials, Ryder, Occidental Petroleum, Cisco Systems, Deere, Penn Entertainment, Southern Company, Coinbase, Trade, Materials, Rand, Texas, Housing, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Albemarle, ALB, Ingersoll, New York City
Tesla to pause German production over Red Sea disruption
  + stars: | 2024-01-12 | by ( Anna Cooban | ) edition.cnn.com   time to read: +3 min
London CNN —Tesla plans to pause most production at its only European factory due to supply chain problems caused by attacks in the Red Sea. In recent weeks, Houthi militants, based in Yemen, have ramped up attacks on vessels traveling through the Red Sea, saying they are revenge for Israel’s war against Hamas in Gaza. As a result, six of the world’s 10 biggest shipping companies — namely Maersk, MSC, Hapag-Lloyd, CMA CGM, ZIM and ONE — have been largely or completely avoiding the Red Sea. Volkswagen, Germany’s biggest carmaker, said Friday that its passenger car division did not anticipate “significant” restrictions to production over the situation in the Red Sea, according to Reuters. Economic reverberationsTesla’s decision will amplify fears that a prolonged closure of the Red Sea route — which connects with the vital Suez Canal — will hurt the global economy by snarling supply chains and driving up the prices of goods.
Persons: London CNN — Tesla, Tesla, Joe Biden, Brent, , , Robert Yawger, Matt Egan Organizations: London CNN, CNN, RTL, Maersk, MSC, Lloyd, CMA CGM, Carriers, European Automobile Manufacturers ’ Association, Volvo, Reuters, Volkswagen, Economic, Ikea, Crocs, Container, British, West Texas, Mizuho Securities Locations: Red, Berlin, Europe, Yemen, Gaza, South Africa, Belgium, Suez, British, Drewry, Iran
How the Red Sea crisis could clobber the global economy
  + stars: | 2024-01-10 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +9 min
The Suez Canal accounts for 10-15% of world trade, which includes oil exports, and for 30% of global container shipping volumes. Maersk CEO Vincent Clerc told the Financial Times Thursday that re-establishing safe passage through the Red Sea could take “months.” “It could potentially have quite significant consequences on global (economic) growth,” he added. Ikea has warned of shipment delays and potential shortages of certain products due to disruption in the Red Sea. Some ocean carriers that ordinarily transit through the Panama Canal had rerouted to the Suez Canal before the attacks in the Red Sea escalated, according to logistics company C.H. Matthew Burgess, vice-president of global ocean services at the firm, said global shipping capacity would be constrained for a while yet.
Persons: Joe Biden, Vincent Clerc, Germany’s, Mohamed, El Erian, ” Simon MacAdam, Lily Millard, Ben May, Good Hope, , ” It’s, Abercrombie &, Nathan Howard, , ” Philip Damas, , Judah Levine, Levine, Eric Thayer, Carolina Klint, Marsh McLennan, Robinson, Matthew Burgess, we’ve, Gene Seroka, Burgess, C.H Organizations: London CNN, British, Energy, World Bank, Maersk, MSC, Lloyd, CMA CGM, Financial Times, Global, Germany’s Kiel Institute, Allianz, Bank, Capital Economics, Oxford Economics, European Automobile Manufacturers ’ Association, Ikea, CNN, Abercrombie, Abercrombie & Fitch, Bloomberg, Getty, Drewry Supply Chain Advisors, Marsh, United, Port Locations: Iran, Crocs, Suez, Yemen, Gaza, Germany, Brent, Gulf, Oman, South Africa, Germany’s Kiel, Red, Israel, Good, Europe, , China, Asia, Los Angeles, United States, Panama, Rotterdam, of Los Angeles, of New York, New Jersey
Here are Tuesday's biggest calls on Wall Street: UBS downgrades ChargePoint to neutral from buy UBS said it's cautious on the EV charging company's growth outlook. " Citi reiterates Nvidia as buy Citi said it's sticking with its buy rating on shares of Nvidia. " Wells Fargo downgrades Booz Allen Hamilton to equal weight from overweight Wells said investors should wait for a better entry point for the defense contractor. Raymond James upgrades Crocs to strong buy from outperform Raymond James said it sees an attractive entry point for the show company. Wells Fargo reiterates Amazon as overweight Wells said international trends for Amazon remain healthy.
Persons: UBS downgrades ChargePoint, it's, Wells, Booz Allen Hamilton, Bernstein, Raymond James, Crocs, CROX's, Estee Lauder, Jefferies, underperform Jefferies, Evercore, Rivian, Piper Sandler downgrades Shopify, Piper, Piper Sandler, Canaccord, TD Cowen, Datadog, TD, Truist, it's bullish, Ingersoll Rand Organizations: UBS downgrades, UBS, JPMorgan, Apple, Citi, Nvidia, HSBC, RBC, Boeing, Lexeo Therapeutics, Bank of America, Virtu, Logistics, Industry Locations: U.S, DDOG, India, Ingersoll
These are some of the forecasts for 2024 from Goldman Sachs chief US equity strategist David Kostin and his team. But that doesn't mean it's time to expect a full-on bull market or rapid economic growth anytime soon. So, to leave room for alternative outcomes, Kostin envisioned an even more optimistic scenario that would see rate cuts and stronger economic growth. The second strategy is to not shy away from growth stocks, but rather, be discerning. Yet, their forecasted sales growth is below their 2023 numbers.
Persons: Goldman Sachs, David Kostin, Kostin, Goldman isn't, Sherwin, Williams, Stocks, Eli Lilly, Russell, John Organizations: Federal, Treasury, Bloomberg, Business, O'Reilly Automotive, Dwight, Marathon Petroleum, Intercontinental Exchange, Truist Financial, Rollins Inc, Power Systems, Water, Enphase Energy, Co, NVIDIA, EQT Corp, Toro Company, John Bean Technologies Corporation, Delta Air Lines, DAL, Alaska Air Group Locations: Goldman's, ORLY, Albemarle, ALB
Birkenstock walks tightrope with $11 bln price tag
  + stars: | 2023-10-02 | by ( ) www.reuters.com   time to read: +2 min
A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. REUTERS/Fabrizio Bensch Acquire Licensing RightsLONDON, Oct 2 (Reuters Breakingviews) - Birkenstock is taking a bold step forward. Fresh from publicity from the Barbie movie, the German sandals maker is targeting a valuation of up to $11 billion, including debt, in its New York stock listing next week. Hoping to build confidence among investors, owner L Catterton has secured the backing of anchor investors including Bernard Arnault’s investing vehicle Financière Agache and Norway’s wealth fund. At $44 to $49 per stock, the offer values the group’s equity between $8.3 billion and $9.2 billion.
Persons: Fabrizio Bensch, L Catterton, Bernard Arnault’s, Martens, Pamela Barbaglia, Lisa Jucca, Oliver Taslic 私, Organizations: REUTERS, Reuters, Nike, 「 Reuters Locations: Berlin, Germany, New York
Here are Thursday's biggest calls on Wall Street: Barclays initiates Jabil and Flex as overweight Barclays initiated several technology manufacturers Thursday and said it sees margin expansion. Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating on the stock heading into Apple's iPhone event next week. Barclays initiates LPL Financial as overweight Barclays said the financial services company is a "solid organic grower at reasonable valuation." Barclays downgrades Seagate to equal weight from overweight Barclays downgraded Seagate mainly on valuation. Morgan Stanley reiterates Meta as overweight Morgan Stanley said it's staying bullish on shares of Meta.
Persons: Wells, Goldman Sachs, Morgan Stanley, McDonald's, Apple, it's, Jefferies, Canaccord, Johnson, Bernstein, Tesla, underperform Bernstein, Raymond James, Dell, Dan Jedda, Stifel, Riley downgrades Crocs, Riley, Truist, Raymond James downgrades Dave, Buster's, Guggenheim, Meta Organizations: Street, Barclays, JBL, EV, HSBC, Citi, Micron Citi, Micron, Oracle, Johnson, JPMorgan, Netflix, Tesla, DELL, Bank of America, Cloud Computing, LPL, Vail Resorts, Seagate, CyberArk Software Ltd, Meta, Nvidia Locations: 3Q23, Vail
TD Cowen upgrades Ross to outperform from market perform TD Cowen said consensus is "underestimating [a] margin recovery" for Ross. TD Cowen downgrades Columbia to market perform from outperform TD Cowen said demand looks muted for Columbia Sportswear . Bernstein downgrades Etsy to market perform from outperform Bernstein said it's concerned about slowing growth. Piper Sandler reiterates Crocs as overweight Piper Sandler said the shoe company is "underpinned by +DD [double digit] earnings growth and compelling valuation." Citi reiterates Apple as buy Citi said it's standing by its buy rating heading into Apple earnings after the bell.
Persons: TD Cowen, Ross, Cowen, Bernstein, Etsy, it's, Piper Sandler, Crocs, CROX, QCOM, Jefferies, Simon, Telsey, Roblox, Morgan Stanley, Robinhood, Janney, Coke Organizations: TD Cowen downgrades Columbia, Columbia, Buyers, Citi, Deutsche Bank, Qualcomm, Apple, Simon, Bank of America, UBS, Costco Locations: underperform, Wingstop, 1Q22
"We expect FSLR will continue to outperform as the company has locked-in double-digit annual earnings growth through decade end. TD Cowen reiterates Skechers as a top idea TD Cowen said it's standing by Skechers as a best idea after the company's earnings report Thursday. JPMorgan reiterates Roku as overweight JPMorgan raised its price target on the stock to $95 per share from $90 and says it's staying bullish on Roku after its earnings report Thursday. " Bank of America reiterates Deckers as buy Bank of America said it expects sales of Deckers ' HOKA brand to double by 2026. JPMorgan reiterates Eli Lilly as overweight JPMorgan said it's bullish on Eli Lilly heading into earnings Aug. 8 due to its diabetes and obesity treatment.
Persons: Wells, Wells Fargo, Morgan Stanley, Apple, it's, Jefferies, Wedbush, FSLR's, TD Cowen, Skechers, Bill, BILL, Roku, Stifel, JPMorgan, Eli Lilly, it's bullish, Ford Organizations: Energy, Apple, Deutsche Bank, Airlines, Volkswagen, VW, Citi, Mobile, " Bank of America, of America, Bill Holdings, Bank of America, JPMorgan, Community Bank, New York Community Bank, Ford Locations: Europe, Dallas, China, Xpeng, Roku, EBITDA, Blue
Looking to next week, earnings season will ramp up — and though we'll get some important economic data, expect the corporate releases and management commentary on the post-game calls to be firmly in the driver's seat. Here are two important things to know for the week ahead. Quarterly earnings : As important as economic releases are, it's earnings that will garner the bulk of investors' attention. For those looking to review first-quarter performance ahead of these releases, keep our first-quarter earnings report card handy. Here's the full rundown of all the important domestic data in the week ahead.
Persons: Dow, we'll, we've, Lawrence Yun, Jerome Powell's, Sartorius, Sartorius preannounced, It's, management's, We'll, Tesla, Ford's, Sherwin, Williams, Archer, Clark, Lam, Edwards Lifesciences, Hewlett, Northrop, Dr Pepper, Davidson, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Economic, National Association of Realtors, Nine, GE Healthcare, Microsoft, YouTube, Linde, LIN, Honeywell, Aerospace, Technologies, Ford, Procter & Gamble, Dynex, HBT, Hope Bancorp, NXP Semiconductors, Cadence Design Systems, Whirlpool, Logitech International, Liberty Global, Verizon Communications, General Motors, General Electric, GE, Spotify, Raytheon Technologies, Daniels, Midland, Albertsons Companies, ACI, Polaris Industries, Inc, Dow Chemical, DOW, Xerox, Texas Instruments, WM, Canadian National Railway Company, Chubb Corporation, Universal Health Services, Powell, Boeing, Hilton, Union Pacific, General Dynamics, Quest Diagnostics, Otis Worldwide, Grill, Lam Research, eBay, EBAY, Mattel, Hewlett Packard, L3Harris Technologies, Gross, Royal Caribbean Cruises, Southwest Airlines, Mastercard, Myers Squibb, Northrop Grumman, Hertz, Tractor Supply Company, HCA Healthcare, Boston, Hershey, Comcast, Harley, Norfolk Southern, Intel, Mobile, United States Steel Corp, KLA Corporation, Boston Beer Company, Nation Entertainment, Texas, Procter, Gamble, Exxon Mobil, Chevron, Charter Communications, AstraZeneca, Colgate, Palmolive, Newell Brands, Sanofi, Dwight, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: U.S, Hollywood, Cleveland, Corning, Kimberly, Bristol, Norfolk
Crocs sued Joybees in federal court on Thursday, expanding on a separate lawsuit that the Colorado-based company filed in 2021. The new complaint, accusing Joybees and its chief executive of unfair competition, came a day after Joybees filed claims in the same court against Crocs. Joybees also said it was seeking a declaration that its shoes had not violated Crocs' intellectual property protections. Joybees, according to Crocs' lawsuit, hired key operations and manufacturing employees from Crocs. The cases are Crocs Inc v Joybees LLC, U.S. District Court for the District of Colorado, 1:23-cv-01719-NRN and 21-cv-02859-PAB-MEH.
Persons: Crocs, Joybees, Kellen McCarvel, McCarvel, Porter Kaye Scholer, Jonathan Cooperman, Kelley Drye, Chad Nitta, Rock, Saul Rostamian, Sheppard Mullin, Mike Scarcella, Leigh Jones Organizations: Colorado Joybees, Crocs, Joybees, Investment, District of, Arnold, Warren, Thomson Locations: Colorado, Denver, Crocs, District of Colorado
TipRanks recognized Wall Street's 10 best analysts in the consumer goods sector for identifying the best investment opportunities. TipRanks used its Experts Center tool to identify the pros with a high success rate, and analyzed each stock recommendation made by analysts in the consumer goods sector over the past decade. TipRanks' algorithms calculated the statistical significance of each rating, the analysts' overall success rate and the average return. Top 10 analysts from the consumer goods sectorThe image below shows the most successful Wall Street analysts from the consumer goods sector. Mark Astrachan - Stifel NicolausMark Astrachan has the 10th spot on the list, with a success rate of 65%.
Loop upgrades Meta to buy from hold Loop said it sees a "brighter revenue picture" for the social media giant. Morgan Stanley reiterates Exxon Mobil as overweight Morgan Stanley said it has "high confidence" in the oil and gas giant. We do think consensus estimates for 2023/24 remain too high but believe the buy-side is more aligned with our below-consensus views." Citi initiates AerCap as buy Citi said demand should remain attractive for the aviation leasing company. Deutsche Bank upgrades DuPont to buy from hold Deutsche said DuPoint is well positioned in an uncertain macro. "
Citi upgrades Squarespace to buy from neutral Citi said it sees an "improved growth outlook" for the website hosing company. Citi reiterates Netflix as buy Citi said it sees more upside in shares of Netflix. Credit Suisse upgrades Zebra Technologies to outperform from neutral Credit Suisse upgraded the computer technology company due to Zebra' s strength in Europe. Credit Suisse reiterates Amazon as outperform Credit Suisse said it's standing by shares of Amazon heading into earnings later this week. Citi reiterates Meta as buy Citi said it's staying bullish heading into Meta earnings on Wednesday. "
We're buying 350 shares of Foot Locker (FL), at roughly $40.43 apiece. Following Monday's trade, Jim Cramer's Charitable Trust will own 700 shares of FL, increasing its weighting in the portfolio to 1.06% from 0.53%. There hasn't been a lot of news around Foot Locker dating back to our initial buy in March , with the exception of one key data point. In late March, CEO Mary Dillon disclosed she purchased roughly $500,000 worth of Foot Locker stock , at $39.74 a share — bolstering our confidence in the company's turnaround strategy. Dillon joined Foot Locker last year after a very successful run as CEO of Ulta Beauty (ULTA).
Stocks stuck to a holding pattern this week as investors brace for an incoming wave of Big Tech earnings and the Fed's favorite inflation reading. Earnings reports have generally been better than expected so far this first quarter. Humana (HUM) reports before the bell Wednesday; Meta Platforms and Pioneer Natural Resources (PXD) report after the bell Wednesday. ET: Personal Spending & Income (includes PCE Price Index) Club trades this week Just one trade: We added 150 shares of Coterra Energy (CTRA) on Wednesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
The wide-ranging survey saw teenagers reporting their spending this year will rise 2% from the spring of 2022 to $2,419. Gen Z girls are planning to pull back on clothing spending, which could spell trouble for apparel stocks in the months ahead. It's the top choice of places to shop for about 9% of the upper-income teens in the survey, Piper said. According to the survey, 49% of upper-income teens have purchased clothes on secondhand marketplaces like Poshmark, The RealReal and ThredUp , or at local thrift stores. Nike remains entrenched as the top apparel brand among all teens, a position it's held for more than 12 years.
To help with the process, here are five stocks chosen by Wall Street's top pros, according to TipRanks, a platform that ranks analysts based on their track records. Drbul reiterated a buy rating on Walmart and a price target of $165. He reiterated a buy rating and increased his price target to $175 from $155. Following the fourth-quarter results, BTIG analyst Peter Saleh reiterated a buy rating and "Top Pick" designation on CHEF, with a price target of $48. Power maintained a buy rating on Datadog and a $100 price target.
Nolte is considering buying home-improvement retailer stocks that were hit hard in 2022 as the housing market struggled. Other companies set to report next week include chip company Nvidia (NVDA.O), COVID-19 vaccine maker Moderna (MRNA.O) and e-commerce firm eBay (EBAY.O). Both companies are set to report on Tuesday and will "set the stage for everyone else," according to JPMorgan retail analysts. Reuters GraphicsAmong the other retailers set to report in the coming week are TJX Companies (TJX.N) and Bath & Body Works (BBWI.N). "We are clearly emphasizing retailers in select industries versus the mass market retailers," Tuz said.
Looking forward The January consumer price index (CPI) , which calculates the average change over time in prices that shoppers pay for goods and services, is slated for Tuesday. Economists and investors will use the number to gauge the odds of a soft landing or hard landing for the economy. The producer price index (PPI) for January, which calculates the change in selling prices received by producers of goods and services, is out on Thursday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Despite the uncertainty surrounding the market to start the new year, Wall Street analysts see several stocks they like going forward. CNBC Pro combed the top 2023 picks from nine research firms to find the most common stocks between them. AMZN 1Y mountain Amazon in past year Another top pick shared among several analysts is brokerage Charles Schwab . "We like Schwab going into 2023 because of the downside protection and multiple avenues of upside it offers," wrote JPMorgan's Kenneth Worthington. Domino's Pizza , meanwhile, was named a top pick at Bank of America and BTIG after a tough year.
David Keller, StockCharts.comThe S&P 500 has pulled back from the critical technical resistance level of 4,000, Keller noted. A round number like that is not only seen as a significant milestone for psychological reasons, but it's also a key Fibonacci retracement level, Keller said. The S&P 500 will likely retest the 3,200 level at some point and will be hovering around current levels by the middle of next year, the veteran chartmaster said. It's currently at 24, down from 33.6 when the S&P 500 was at its mid-October lows. The S&P 500 can hit new highs and break the 5,000 mark by late 2023, Keller said, though he doubts a breakthrough will come any earlier than that.
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