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☆ Two major investor groups with $6 trillion at work agree these are good stocks, according to Goldman analysis
▼ + stars: | 2024-06-05 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Hundreds of mutual funds and hedge funds overlap in their investments, creating some shared favorites between the two different investment vehicles, according to Goldman Sachs. This basket of stocks—which includes Danaher , Mastercard , Vertiv and Uber —are constituents of both Goldman's Hedge Fund VIP and Mutual Fund Overweight baskets. "Hedge funds and mutual funds have boosted exposures to equities this year, with hedge fund net leverage rising near its highest level over the past year and mutual fund cash balances dropping to record lows. Visa shares are up about 4.6% for the year, lifted by stronger-than-expected earnings in the fiscal second quarter. Both stocks have had a tough quarter, however, with Visa falling 2.4% since the end of March, while Mastercard shares have lost 7.6%.

Persons: Goldman Sachs, Vertiv, Uber, David Kostin, Kostin, Goldman, Alexander Blostein Organizations: Mastercard, VIP, Mutual Fund, FactSet, KKR, Visa, Tuesday's Locations: FRE

☆ People are exiting the stock market in droves
▼ + stars: | 2024-06-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

The US stock market is shrinking, and investors are pulling their money out at a near-record pace as storm clouds gather over the US economy. A shrinking market: The stock market isn’t the economy (for the most part). Fear is currently driving the US market, according to CNN’s Fear and Greed Index. “We really need to consider: Is this the outcome we want?”CEOs are making almost 200 times what workers areCEOs raked in fat pay packages last year as the US stock market boomed, reports my colleague Matt Egan. Economists were expecting job openings to register 8.36 million, according to FactSet estimates.

Persons: ”, Morgan Stanley, Lisa Shatlett, We’ve, Torsten Slok, Jamie Dimon, Dimon, “, Matt Egan, Bosses, Alicia Wallace Organizations: CNN Business, Bell, New York CNN, titans, Bank of America, Morgan Stanley Wealth Management, Federal, Dow, Apollo Global Management, Privately, JPMorgan, Associated Press, Workers, Bureau of Labor Statistics ’, Labor, Federal Reserve Locations: New York, Nantucket, That’s

☆ Stocks making the biggest moves premarket: Intel, GameStop, Bath & Body Works and more
▼ + stars: | 2024-06-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Bath & Body Works — Shares of the home fragrance and personal care retailer dropped 9%. Bath & Body Works topped first-quarter earnings and revenue estimates but shared disappointing guidance for the current period. The company expects earnings to range between 31 cents and 36 cents a share, versus a FactSet estimate of 38 cents. Gitlab — The software company shed 2.3% despite posting an earnings and revenue beat postmarket for its fiscal first quarter Monday. Adjusted earnings per share came in at 3 cents, versus the 4 cent loss per share expected from analysts polled by LSEG.

Persons: Keith Gill, Gill, —, Fred Imbert, Alex Harring, Michelle Fox Organizations: Intel, Nvidia, AMD, GameStop, Street Journal, AMC Entertainment, Body Works, LSEG, Revenue, CNBC

☆ Stocks making the biggest moves after hours: CrowdStrike, Hewlett Packard Enterprise and more
▼ + stars: | 2024-06-04 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Hewlett Packard Enterprise — The technology stock rallied about 11% on the back of a stronger-than-predicted financial report for the fiscal second quarter. Hewlett Packard Enterprise reported adjusted earnings of 42 cents per share on revenue of $7.2 billion. Analysts surveyed by LSEG had penciled in just 39 cents in earnings per share and $6.82 billion in revenue. Verint Systems saw 59 cents in adjusted earnings per share and $221.3 million in revenue for the first quarter. Analysts forecast earnings of 54 cents per share and $214.5 million of revenue, per LSEG.

Persons: CrowdStrike, LSEG, Guidewire, Darla Mercado Organizations: LSEG, Hewlett Packard Enterprise, Systems, Verint Systems, FactSet

☆ Job openings fall to new 3-year low, as the US economy continues to slow
▼ + stars: | 2024-06-04 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

CNN —The number of job openings in the US shrank for the second month in a row, setting a new three-year low amid further signals of cooling in the labor market. There were 8.06 million available jobs posted in April, according to the Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey (JOLTS) report released Tuesday. Economists were expecting job openings to register 8.36 million, according to FactSet estimates. Layoffs remain lowIn addition to the decline in job openings, other measures of labor turnover showed minimal movement in April. Second, the labor market is a different animal than it was 10 or 20 years ago.

Persons: Nancy Vanden Houten, ” Vanden Houten Organizations: CNN, Bureau of Labor Statistics ’, Labor, Oxford Economics, Federal Reserve, Federal, JOLTS, Boomers Locations: That’s

☆ Stocks making the biggest moves midday: Bath & Body Works, Carnival, GameStop and more
▼ + stars: | 2024-06-04 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Bath & Body Works — Shares of Bath & Body Works sank nearly 13% and headed for their worst day since 2021. Bath & Body Works expects earnings to range between 31 cents and 36 cents a share, behind a FactSet estimate of 38 cents in earnings per share. Saia — The freight company popped 6.7% after it posted higher less-than-truckload shipments per workday for April and May compared to a year earlier. Shares of BP and Exxon Mobil fell around 2.3% and 1.6%, respectively, while Diamondback Energy and Chevron shares fell nearly 1%. Stanley Black & Decker — The industrials stock fell about 3.7% after Barclays downgraded the stock to equal weight from overweight.

Persons: Keith Gill, Goldman Sachs, TZE, Goldman, Stanley Black, Decker, Julian Mitchell, Oppenheimer, Jed Kelly, —, Samantha Subin, Michelle Fox, Yun Li, Pia Singh, Lisa Han Organizations: Body, O Cruises, Carnival Cruise, GameStop, Street, Trade, Dominion Freight, Technologies, Energy, BP, Exxon Mobil, Diamondback Energy, Chevron, Barclays

☆ How Roaring Kitty's wealth went from $53,000 to nearly $300 million — and could one day top $1 billion
▼ + stars: | 2024-06-04 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Pavlo Gonchar | Lightrocket | Getty ImagesAlmost five years ago, GameStop champion Keith Gill revealed a $53,000 bet in his favorite video game retailer. By the end of the jaw-dropping episode in April 2021, Gill exercised his call options position to have 200,000 common shares. Put another way: If the stock closes above $20 that day, Gill could exercise the options at $20 apiece, leaving him owning an additional 12 million shares. A total of 17 million shares would make him the fourth-biggest shareholder in GameStop, coming in behind Vanguard, BlackRock and Ryan Cohen's RC Ventures, according to FactSet. Zoom In Icon Arrows pointing outwardsThe notional value, if exercised, would be $240 million worth of stock bought at $20.

Persons: Keith Gill, Pavlo Gonchar, Gill, Michael Khouw, Khouw, Morgan Stanley's, Ryan Cohen's Organizations: GameStop, Lightrocket, Street Journal, CNBC, Vanguard, BlackRock, Ryan Cohen's RC Ventures

☆ A longtime skeptic on Best Buy now says buy the stock — here's what changed their mind
▼ + stars: | 2024-06-03 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

A longtime bearish analyst on Best Buy has jumped over to our side the debate after its head-turning earnings report last week. Barry said Best Buy expects to have the largest assortment of AI PCs on sale later this month from brands such as Dell, Microsoft and HP, with "more than 40% of the assortment retail exclusive to Best Buy." Based on Monday's prices, Best Buy would need to gain nearly 59% to take out its old highs. Considering the innovation pipeline ahead, Citi analysts are optimistic Best Buy shares can go even higher. People walk into a Best Buy store in a Brooklyn mall on August 29, 2023 in New York City.

Persons: Jim Cramer, Corie Barry, Barry, Jim, it's, Jim Cramer's, Spencer Platt Organizations: Citigroup, Citi, Dell, Microsoft, HP, Nasdaq, CNBC, Getty Locations: Brooklyn, New York City

☆ Jim Cramer explains why Dell is a buy on the dip
▼ + stars: | 2024-06-03 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

After shares of Dell took a hit last week and continued to sink during Monday's session, CNBC's Jim Cramer told investors why he thinks the stock is a good buy at its current price level. "The main problem is that Dell failed to live up to irrationally high expectations, the expectations that fueled the stock's stunning rally this year," he said. Even if Dell's AI offerings aren't driving earnings just yet, Cramer said he was still impressed with sales momentum. In the earnings release, Dell said its AI server shipments doubled since the previous quarter and its backlog grew more than 30%. Cramer called Dell's recent decline a "healthy pullback for a stock that had gotten overheated."

Persons: CNBC's Jim Cramer, Dell, Cramer, Wall Organizations: Dell, Investors

☆ There's a bull case emerging in Brazilian stocks for long-term investors
▼ + stars: | 2024-06-02 | by ( Fred Imbert | ) www.cnbc.com time to read: +4 min

Recent struggles in Brazilian stocks could be an opportunity for investors to buy into Latin America's largest economy at a discount. There are also other factors that can boost Brazilian stocks going forward, including an attractive valuation and investor positioning. Low valuations and strong consumer Brazilian stocks are very cheap, especially compared to the other emerging markets. Another catalyst for Brazilian stocks may be stronger consumer spending. How to invest Investors in the U.S. can gain exposure to Brazilian stocks via the EWZ ETF and its small-cap counterpart, the EWZS.

Persons: Leonard Linnet, Unibanco, Ed Yardeni, Morgan Stanley, Alexsandro Broedel, Broedel, That's, Itaú's Linnet Organizations: Federal, Brazil —, CNBC, Yardeni Research, Petrobras, Vale Locations: Brazil, U.S, New York, Latin America

☆ Jobs data will steal the spotlight next week. What to watch for in 3 key labor reports
▼ + stars: | 2024-06-01 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

In this way, the nonfarm payroll report also offers clues on the near-term path of inflation. As always, payroll processing firm ADP will release its May private-sector jobs report before the government's nonfarm payroll report. On Tuesday, we'll get the latest JOLTS data, shorthand for the Job Openings and Labor Turnover Survey conducted by the Labor Department. Earnings A few noteworthy earnings reports set for next week include CrowdStrike and Hewlett Packard Enterprise after the close on Tuesday. A report released by the Bureau of Labor Statistics showed the US economy added 311,000 jobs in February.

Persons: industrials, Eaton, Locker, Salesforce, we've, FactSet, Dow Jones, we'll, Ferguson, OLLI, Campbell Soup, Brown, Forman, LULU, JM Smucker, Jim Cramer's, Jim Cramer, Jim, Joe Raedle Organizations: Nasdaq, Dow Jones, Federal, Energy, Coterra Energy, Palo Alto Networks, Broadcom, Microsoft, Costco, Labor, Labor Department, Institute for Supply, Hewlett Packard Enterprise, Body, Donaldson Company, DCI, Brands, Natural Foods, THOR Industries, ABM Industries, Vail Resorts, MTN, NGL Energy, Jim Cramer's Charitable, CNBC, Bureau of Labor Statistics, Getty Locations: Chicago, Palo, U.S, Bath, Toro, Miami , Florida

☆ Shares of Dell fall 16% as AI servers are sold at 'near-zero margins'
▼ + stars: | 2024-05-31 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Shares of Dell Technologies fell more than 16% Friday after investors were discouraged by the company's lower-than-expected artificial intelligence server backlog and an estimated decline in margins. Bernstein analysts said the "principle disappointment" in Dell's results was that operating margins for its Infrastructure Solutions Group compressed year over year. Additionally, operating profits were flat compared with the same period last year, even though the company brought in around $1.7 billion in incremental AI server revenues. The analysts said this resurfaced concerns that Dell's AI servers are being sold at "near-zero margins." Bank of America analysts said Dell reported a strong quarter, and they reiterated their buy rating on the stock.

Persons: Michael Dell, Dell, FactSet, Bernstein, — CNBC's Michael Bloom, Kif Leswing Organizations: Dell Technologies, MWC, Mobile World Congress, Fira, Gran, Dell, Infrastructure Solutions, Bank of America, JPMorgan Locations: L'Hospitalet de Llobregat, Barcelona, Catalonia, Spain

☆ Stock splits are all the rage with Nvidia the latest — how to know which ones to buy or avoid
▼ + stars: | 2024-05-31 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

While stock splits don't affect a company's value, they can catalyze a move higher or lower, according to Wolfe Research. Artificial intelligence chipmaker Nvidia announced a 10-for-1 stock split as part of its quarterly earnings report on May 22. The firm examined the roughly 3,000 stock splits from large-cap U.S. companies since 1993 to examine their impact. Here are the favorable criteria Senyek identified: Large market capitalization Higher absolute share price Multiple stock splits in the past "Larger cap, higher price and multiple splits is the 'sweet spot' for stock splits' signaling mechanism," said Senyek. "For what it's worth, the pending Nvidia stock split meets the three aforementioned positive criteria."

Persons: Dow, Chris Senyek, Senyek, That's, FactSet, Baird, Jack Hartung, Chipotle, Amphenol, — CNBC's Michael Bloom Organizations: Wolfe Research, Nvidia, Dow Jones Industrial, Walmart, Dominion Freight, Old Dominion, Citigroup, CNBC, Amphenol Locations: Old, Connecticut

☆ The Fed’s favorite inflation gauge showed little progress last month
▼ + stars: | 2024-05-31 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

Excluding the more volatile categories of food and energy, the core PCE price index slowed for the month, rising 0.2% as compared to a 0.3% gain in March. On an annual basis, the core PCE price index held steady at 2.8%. Forecasts called for the monthly and annual increases in the overall and core index to be unchanged from March, according to FactSet consensus estimates. While the overall PCE price index is technically used as the Fed’s target rate, the core index has received more attention from Fed officials because it provides a clearer lens into how underlying inflation is behaving. Consumer spending also cooled for the month, rising just 0.2% as compared to the 0.7% increase recorded for March.

Organizations: CNN, Inflation, Federal Reserve, Fed, Commerce Department

☆ How East West Bancorp has gained an edge by serving the Asian American community
▼ + stars: | 2024-05-31 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

East West Bancorp shares have eked out a small gain in 2024, up 2%. Despite the heightened scrutiny around regional banks, little-known East West Bancorp has been able to pull ahead thanks to a key customer base: Asian Americans. American dream = home ownershipPart of what's helping East West succeed with Asian Americans goes all the way back to its origins. East West Bancorp was founded in 1973 as a federal savings and loan in the Los Angeles area to service the Chinese American and immigrant community struggling to obtain mortgages and business loans. East West also drives cross-border activity between the U.S. and other Asian countries, such as Thailand and Vietnam.

Persons: Alexander Yokum, Wells, Timur Braziler, Fannie Mae, Freddie Mac, —, Braziler, Christopher Del Moral, Niles, it's, Del, Steven Leung, Leung, CFRA's Yokum, Yokum, Dominic Ng, that's Organizations: East West Bancorp, Regional Banking, Bancorp, West Bancorp, CFRA, Federal Housing Finance Agency, East, East West, U.S, Bancorp's Locations: Southern California, U.S, United States, East, Los Angeles, Asia, FactSet, East West, New York, Beijing, China, Shanghai, Thailand, Vietnam, Washington

☆ Saudi Aramco offers nearly $11.5 billion in new stock for sale
▼ + stars: | 2024-05-30 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Aramco will offer 1.545 billion shares in a price range between 26.70 and 29 Saudi riyals per share, according to a company filing. At the midpoint of that range, the sale would total nearly $11.5 billion. The sale represents a follow-on offering, after Aramco initially entered the public markets in 2019 and raised $29.4 billion in the world's largest ever initial public offering. Aramco lifted its base dividend for the fourth quarter to $20.3 billion, and boosted its performance-linked dividend to $10.8 billion. Saudi Arabia owns more than 82% of Aramco prior to the sale, the Wall Street Journal has reported.

Persons: Abdulaziz bin Salman, Prince Mohammed bin Salman, — CNBC's Spencer Kimball Organizations: Aramco, Plaza Conference, Saudi, Saudi Energy, Chevron, ExxonMobil, giga, Wall Street Locations: Dhahran, Saudi Arabia, Saudi Arabia's, Aramco, Riyadh, Saudi, Neom

A small group of stocks are on the verge of forming a worrisome chart pattern known as a "death cross ." A death cross occurs when a stock's 50-day moving average falls below its 200-day average. Baxter International Stock in medical equipment maker Baxter International is also on the verge of a death cross. Other stocks nearing a death cross chart pattern include Illinois Tool Works and Abbott Laboratories . While the golden cross suggests a potential uptrend, ITW is now approaching the bearish death cross chart pattern only five months later.

Persons: Goldman Sachs, Bonnie Herzog, Clorox, TD Cowen, Joshua Jennings, Baxter, Jennings, Abbott's Organizations: Nasdaq, CNBC, Baxter International Stock, Baxter, Abbott Laboratories ., Tool, Abbott Laboratories, U.S . Food, Drug Administration Locations: Hillrom, Illinois, U.S

☆ Stocks making the biggest moves midday: Salesforce, Kohl's, HP, Best Buy and more
▼ + stars: | 2024-05-30 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Its fiscal first-quarter revenue was $9.13 billion, versus the $9.17 billion expected from analysts polled by LSEG. Foot Locker's earnings per share came in at 22 cents, versus the LSEG consensus estimate of 12 cents per share. Agilent Technologies — The stock fell nearly 8% after the company reported a slight revenue miss but an earnings beat. However, Hormel's adjusted earnings per share of 38 cents topped the 36 cents expected from analysts. American Eagle Outfitters — The retail stock slipped 3.6% after the clothing company reported weaker-than-expected sales in its fiscal first quarter on Wednesday.

Persons: Salesforce, LSEG, FactSet, Rob Enslin, Corie Barry, Agilent, Nutanix, Mike Mathias, —, Lisa Kailai Han, Hakyung Kim Organizations: LSEG, Revenue, HP —, HP, StreetAccount . Revenue, Burlington, American Eagle Outfitters, CNBC Locations: LSEG

☆ These S&P 500 stocks are cheap and well-liked by analysts heading into June
▼ + stars: | 2024-05-30 | by ( Pia Singh | ) www.cnbc.com time to read: +8 min

The company has a low forward price-to-earnings ratio of roughly 8.6. Ulta Beauty also made the screen as a cheap stock that analysts are bullish on. The stock has a 14.5 forward price-to-earnings ratio and a consensus buy rating from analysts polled by FactSet. Online pickup orders inside an Ulta Beauty store in the Upper East Side neighborhood in New York, US, on Monday, Nov. 27, 2023. The stock has a 14.5 forward price-to-earnings ratio and a consensus buy rating from analysts polled by FactSet.

Persons: Jefferies, Trevor Williams, We're, FactSet, Stifel, Ulta, General Motors, Bing Guan Organizations: Dow Jones, Nasdaq, CNBC, Financial, Global Payments, Jefferies, JPMorgan, Cadillac, Chevrolet, General, FedEx, Halliburton, Gilead Sciences, CVS Health, Bloomberg, Getty, CVS, Epam, Motors, HAL Halliburton, Resorts, JBL, LKQ, Vegas Sands Corp, MGM MGM Resorts International, LSEG Financial, Inc Locations: Gilead, New York

☆ The American shopping spree is losing steam
▼ + stars: | 2024-05-30 | by ( Bryan Mena | Nathaniel Meyersohn | ) edition.cnn.com time to read: +5 min

CNN —It’s becoming tougher and tougher for Americans to carry on with their spending spree. Years of elevated inflation and the highest interest rates in almost a quarter century are wearing out the US consumer. Savings accumulated during the Covid-19 pandemic are drying up, borrowers continue to rack up debt and delinquencies are marching higher. A second estimate of gross domestic product, released Thursday, showed that consumer spending was weaker in the first three months of the year than initially reported. Economists polled by FactSet are expecting data to be released Friday to show that consumer spending slowed notably in April from March.

Persons: CNN —, they’ll, ” Carol Schleif, FactSet, Thomas Kingsbury, TJ Maxx Organizations: CNN, Savings, BMO Family Office, Employers, Walmart, Dollar, Goods, Abercrombie, Fitch

☆ Dell shares fall despite growing AI server business
▼ + stars: | 2024-05-30 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Michael Dell, Chairman and CEO of Dell Technologies, is speaking at the Mobile World Congress 2024 in Barcelona, Spain, on February 27, 2024. Dell reported first-quarter earnings on Thursday that beat analyst estimates for earnings and sales, as the company has emerged as one of the top vendors for AI servers. When the company reported earnings in February, it reported earnings per share that were significantly higher than expectations. Dell reported $955 million in net income during the quarter, or $1.32 per diluted share, versus $578 million, or 79 cents, in the year-ago period. Dell's division including data center sales, called Infrastructure Solutions Group, saw sales rise 22% on an annual basis to $9.2 billion.

Persons: Michael Dell, Dell, FactSet, Jensen Huang Organizations: Dell Technologies, Mobile, Infrastructure Solutions, Dell, Nvidia, Solutions Locations: Barcelona, Spain

☆ Best Buy surges on signs that the expected AI-driven PC and smartphone refresh is starting
▼ + stars: | 2024-05-30 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Bottom Line This was a better-than-feared quarter from Best Buy. Services are an area that Best Buy can lean into and leverage to differentiate from online retailers like Amazon . Importantly, she noted that not only will Best Buy have the largest assortment of AI-enabled PCs but over 40% of that assortment will be exclusive to Best Buy. Going back to how Best Buy can compete with the likes of Amazon, Best Buy is working closely with vendors on marketing strategies and demonstrations to offer a "unique educational and interconnected digital shopping journey." Bimal Tandel photographs Bhavin Tandel and Dinesh Tandel, crew members on the Klara Oldendorff, in front of a Best Buy in Timonium, Maryland, U.S., March 29, 2024.

Persons: Corie Barry, we're, Barry, FactSet, Jim Cramer's, Jim Cramer, Jim, Bimal, Bhavin Tandel, Dinesh Tandel, Klara Oldendorff, Julia Nikhinson Organizations: LSEG, Services, Amazon, Computer, Target, Walmart, Costco, Barry, Apple, CNBC Locations: Timonium , Maryland, U.S

☆ A look at US economic data including inflation, jobless claims, and Treasury yields
▼ + stars: | 2024-05-30 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington CNN —US economic data released Thursday was broadly disappointing. And mortgage rates inched higher this week, thrusting the average rate back above the psychological 7% threshold. HousingHousing data released Thursday mostly showed that the market remains tough, especially for first-time buyers. The Fed doesn’t directly set mortgage rates, but its actions, which influence yields, do. There were 219,000 first-time claims filed during the week ended May 25, according to Labor Department data released Thursday.

Persons: ” Oren Klachkin, it’s, Freddie Mac, They’re, ” Lawrence Yun, hasn’t Organizations: Washington CNN, Treasury, Federal, Nationwide, Commerce, Housing, Fed, National Association of Realtors, ” Jobs, Labor Department, Dow, Nasdaq Locations: American

☆ Stocks making the biggest moves premarket: Salesforce, Kohl's, Foot Locker and American Eagle Outfitters
▼ + stars: | 2024-05-30 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Foot Locker — Shares rallied more than 12% in the premarket after the apparel and sneaker retailer reported first-quarter earnings that beat expectations . The company posted an adjusted profit of 22 cents per share, while analysts polled by LSEG expected earnings of 12 cents per share. The company's $3.18 billion revenue also came below the expected $3.34 billion. American Eagle Outfitters — Shares slipped 7% after the company posted weaker-than-expected sales in its fiscal first-quarter, despite beating on earnings. Analysts surveyed by StreetAccount were expecting a loss of 30 cents per share on $84.4 million of revenue.

Persons: Salesforce, Dan Dolev, Birkenstock, LSEG, Mary Dillon, Mike Mathias, StreetAccount, UiPath, Rob Enslin, — CNBC's Michelle Fox, Fred Imbert, Yun Li, Sarah Min, Jesse Pound, Pia Singh Organizations: PayPal, Mizuho, ISI, CNBC, LSEG, Revenue, American Eagle Outfitters, Finance, HP Locations: €

☆ The data center boom is leading to a power crunch. These stocks are ahead of the curve, TD Cowen analysts say
▼ + stars: | 2024-05-29 | by ( Pia Singh | ) www.cnbc.com time to read: +5 min

Several stocks are well-positioned to benefit from any power supply bottlenecks resulting from rapid growth in data centers, according to 11 analysts at TD Cowen who compiled a 169-page report. As a result, they're building data centers where power is available, investing in transmission lines and exploring the use of nuclear energy . Brookfield Renewable Partners , an international renewable power producer and developer, is another beneficiary of the data center boom. "The recently signed framework agreement... is a clear example of BEP's exposure to corporate [power purchase agreement] momentum associated with data center demand. That will contribute to the energy supply needed to power data centers.

Persons: Cowen, Michael Elias, Elias, FactSet, TD Cowen, Sean Steuart, it's, Cowen's David Deckelbaum, Coterra Organizations: Amazon, Oracle, Digital Realty Trust, Digital Realty, Digital, Brookfield Renewable Partners, Microsoft, Brookfield, NuScale Power Corp, Reactor, Regulatory, Energy, Coterra Energy Locations: Northern Virginia, Silicon, Tuesday's, U.S, Europe, Brookfield, Appalachia

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