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☆ Nvidia could one day be an unprecedented 15% of the S&P 500, predicts Evercore ISI
▼ + stars: | 2024-06-10 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

Nvidia could one day dominate the U.S. stock market benchmark S & P 500 by a magnitude that has never been seen before, more than doubling the influence of past leaders like Apple and Nokia, along with current leader Microsoft. "History suggests NVDA could become 10-15% of S & P 500," wrote chip analyst Mark Lipacis in a note Friday. "We have observed that at each successive computing era, the ecosystem players represent a larger weighting of the S & P 500." Nvidia is already doing most of the heavy lifting for the S & P 500. The chipmaker is responsible for about 37% of the S & P 500's year-to-date 12% return.

Persons: Mark Lipacis, that's, Lipacis Organizations: Nvidia, Apple, Nokia, Microsoft, Evercore, Jefferies, Digital Equipment Corporation, Compaq

☆ JPMorgan upgrades Walmart, says it's time to get defensive with consumer softening into the election
▼ + stars: | 2024-06-10 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

The second half of this year is the perfect time for Walmart, according to JPMorgan. The firm upgraded Walmart to overweight from neutral and raised its price target to $81, which represents a 23% gain from Friday's close. Walmart also said it would hit the high-end of its full-year guidance as it won over more higher-income shoppers. JPMorgan said that, along with liking Walmart's individual merits, there was also a macroeconomic reason behind the call. JPMorgan said it was maintaining its 2024 EPS forecast of $2.57, which is above the $2.43 Wall Street consensus and raising its 2025 EPS estimate to $2.86.

Persons: Christopher Horvers Organizations: Walmart, JPMorgan Locations: Friday's

☆ UBS raises S&P 500 target to Street-high 5,600 on stronger earnings growth
▼ + stars: | 2024-05-28 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

UBS raised its year-end S & P 500 target to 5,600 on better-than-expected earnings growth and falling risks of a recession. The new target Tuesday from strategist Jonathan Golub is tied for the highest on Wall Street with Brian Belski of BMO. UBS notes that earnings growth for the first quarter was expected to be just 4.1% — but is on track to reach 10.6% once all S & P 500 companies have reported. Wall Street strategists have scrambled recently to keep up with 2024's surprising rally on the back of artificial intelligence enthusiasm and a strong economy. After a series of recent increases, the median target on Wall Street is now 5,300.

Persons: Jonathan Golub, Brian Belski, Golub Organizations: UBS, BMO, CNBC Pro, Survey, Chicago, Federal Locations: Friday's

☆ Bernstein says 'be like Buffett' and buy Apple shares while they are cheap, upgrades to outperform
▼ + stars: | 2024-04-29 | by ( John Melloy | ) www.cnbc.com time to read: +5 min

Bernstein upgraded shares of Apple on Monday, saying they had fallen too far on fears of sluggish iPhone 15 sales and overall weak revenue in China. Bernstein upgraded Apple to outperform from market perform and kept its $195 price target, representing 15% upside from here. Sacconaghi's upgrade note, which he titled, "Buy the fear," comes before Apple reports earnings Thursday evening. Bernstein also cites that history shows it pays to buy Apple shares in the three months ahead of a new iPhone launch, noting that the stock has outperformed in 15 of those past 17 periods. Bernstein upgraded Apple to outperform from market perform and kept its $195 price target, representing 15% upside from here.

Persons: Bernstein, Buffett, Warren Buffett, Toni Sacconaghi, Berkshire Hathaway, YTD Bernstein, David A, CNBC Bernstein Organizations: Apple, Berkshire, Berkshire Hathaway, Grogan, CNBC Locations: China, Berkshire, Omaha , Nebraska

☆ Watch CNBC's Sunday livestream on the Iran-Israel conflict, jumping oil prices and market selloff
▼ + stars: | 2024-04-14 | by ( John Melloy | ) www.cnbc.com time to read: 1 min

[The stream is slated to start at 6:00 p.m. Please refresh the page if you do not see a player above at that time.] CNBC's Sunday evening special livestream will prepare investors for the big week ahead amid a stock market selloff, an escalating Iran-Israel conflict and spiking oil prices. Subscribe to CNBC on YouTube.

Organizations: CNBC, YouTube Locations: Iran, Israel

☆ Pro Talks: Katie Stockton on the one stock with a more explosive chart than Nvidia
▼ + stars: | 2024-03-28 | by ( Jeff Morganteen | John Melloy | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPro Talks: Katie Stockton on the one stock with a more explosive chart than NvidiaCNBC Pro Talks features one-on-one interviews with Wall Street's top investors, smartest traders and rising stars. CNBC's Dominic Chu finds out what makes them tick, what makes them money, and how you can follow in their footsteps. CNBC Pro Talks is a monthly interview series that's part of CNBC's premium subscription service, CNBC Pro. To hear the full Pro Talk interview—including specific stock picks and investment strategies—listeners can subscribe to cnbc.com/protalks.

Persons: Katie Stockton, Wall, CNBC's Dominic Chu Organizations: Nvidia CNBC, CNBC, CNBC Pro

☆ Goldman gives 4 scenarios for stocks: One sees S&P 500 rallying to 6,000, another calls for a drop to 4,500
▼ + stars: | 2024-03-25 | by ( John Melloy | ) www.cnbc.com time to read: +3 min

The market's surprising rally has lifted the S & P 500 to Goldman Sachs' year-end target before the first-quarter is even over, so the firm is giving clients various scenarios that could happen from here. If their target ends up being correct and stocks pull back, Goldman recommended clients get long its basket of defensive stocks. The S & P 500 is coming off its best week since December, bringing it to 5,234.18. Catch-down scenario: The S & P 500 falls to 4,500, or down 14% from here, as sales growth estimates prove to be too optimistic, especially for the Magnificent 7 Stocks. "Mega-cap exceptionalism" scenario: The S & P 500 finishes the year at 6,000, or up another 15% from here, where expectations for stocks like Nvidia prove correct and investors take the S & P 500 to 23 price-earnings ratio.

Persons: Goldman Sachs, Goldman, David Kostin, Kostin Organizations: CNBC Pro, Wall, Nvidia Locations: That's

☆ The rally is over for Nasdaq stocks such as Netflix and AMD, according to Wall Street analysts
▼ + stars: | 2024-03-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

It may be downhill from here for some high-flying stocks in the Nasdaq. But for some stocks in the Nasdaq, their ascent may soon come to an end. One name on the list was streaming platform service Netflix , which is up 96% in the past year. The stock has rallied roughly 150% this past year, but could potentially fall 7%, according to average analyst estimates. Big-box retailer Costco also made the list, with analysts' price targets suggesting shares could slide 5%.

Persons: David Joyce, Raymond James, Gus Richard, —, John Melloy Organizations: Nasdaq, Federal Reserve, CNBC, Stock, Netflix, Seaport Research Partners, Devices, Northland Capital Markets, Costco Locations: Northland

☆ JetBlue shares jump 15% as activist Carl Icahn reports stake and calls shares undervalued
▼ + stars: | 2024-02-12 | by ( Sara Salinas | In Saracsalinas | ) www.cnbc.com time to read: +2 min

Activist investor Carl Icahn on Monday reported a nearly 10% stake in JetBlue Airways , saying the airline stock is undervalued. Shares of JetBlue spiked more than 15% in extended trading. Icahn amassed the stake in a series of purchases in January and February, according to regulatory filings. He has had plans to continue discussions with the company "regarding the possibility of board representation," the records said. JetBlue has been cutting costs and working to improve operations in an effort to return to profitability after a post-Covid travel surge and a blocked merger with budget carrier Spirit Airlines.

Persons: Carl Icahn, Icahn, Joanna Geraghty, —, John Melloy, Leslie Josephs Organizations: JetBlue Airways, JetBlue, Icahn, TWA, Spirit Airlines, NYSE Arca, CNBC PRO

☆ Wednesday analyst calls: JPMorgan downgrades New York Community Bancorp, Eli Lilly gets big boost
▼ + stars: | 2024-02-07 | by ( Pia Singh | ) www.cnbc.com time to read: +8 min

Troubled regional bank New York Community Bank faced a downgrade from JPMorgan, which said NYCB is facing a multitude of challenges. The firm upped its price target for the drug maker to $850, all the way from $200. Wells Fargo : Analyst Zachary Fadem kept his overweight rating and raised his target price by $200 to $2,800, implying 12.5% upside for shares. "After speaking to management, we confirmed these two executives had indeed left the company, wrote JPMorgan analyst Steven Alexopoulos. NXP's stock price is down 2.9% for the year, but still higher than 15% over the past 12 months.

Persons: Eli Lilly, Eric Gonzalez, Gonzalez, Wells, Zachary Fadem, Sara Senatore, Chipotle, — Pia Singh, JPMorgan downgrades, Steven Alexopoulos, Alexopoulos, John Melloy, Vivek Arya, Arya, Robyn Karnauskas, Karnauskas, Zepbound Organizations: CNBC, New York Community Bank, JPMorgan, Pharma, Truist Securities, Semiconductors, Bank of America, KeyBanc, Barclays, New York Community Bank JPMorgan, New, Community Bank, Financial Times, Bloomberg News, New York Community Bancorp, Battery Management Systems, Food and Drug Administration Locations: Wells Fargo, Tuesday's

☆ Goldman already raised its 2024 forecast because of market surge — now sees S&P 500 going to 5,100
▼ + stars: | 2023-12-18 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

Goldman Sachs is already raising its 2024 stock market forecast, and the new year isn't even here yet. The S & P 500 rallied 5% in the past month to already meet Kostin's original 2024 forecast of 4,700 for the new year that he gave back in November . "Lifting our 12-month S & P 500 target to 5100 as inflation falls, the Fed turns dovish, and real yields plunge," wrote Kostin in a note Friday. The 10-year Treasury yield, which scared equity investors by rising above 5% back in October, has tumbled to 3.9%. According to Goldman, the typical member of this basket will return four times as much as the median S & P 500 member but with the same level of volatility.

Persons: Goldman Sachs, David Kostin, Goldman Organizations: Fed, Federal Reserve, Treasury

☆ Monday's analyst calls: 30% upside for GM, Carvana upgrade, Anheuser-Busch downgrade
▼ + stars: | 2023-12-04 | by ( Brian Evans | ) www.cnbc.com time to read: +7 min

So far this morning there is a big auto stock upgrade and a big beverage downgrade, among other calls. Morgan Stanley dimmed its view on Citizens Financial , downgrading the stock to equal weight from overweight but maintained its $31 per share price target, implying roughly 9% upside. The firm made the chipmaker its top large cap pick on Monday, and reiterated an overweight rating alongside a $620 per share price target. The analyst raised his price target from $25 to $40, which represents 14% upside. "We continue to see ABI's broadly EM focused sales exposure as attractive combined with the company's market leading market share positions," analyst Mitch Collett said.

Persons: Morgan Stanley, Manan, Brian Evans, Piper Sandler, Piper Sandler's, Harsh Kumar, Kumar, Wells, Ike Boruchow, Boruchow, — Brian Evans, JPMorgan's Rajat Gupta, Carvana, John Melloy, Bud Light, Mitch Collett, Vijay Rakesh, Rakesh Organizations: CNBC, East West Bancorp, Citizens Financial, Citizens, West Bancorp, Nvidia, TAM, Wells, JPMorgan Carvan, JPMorgan, Deutsche Bank downgrades Anheuser, Busch, Deutsche Bank, Anheuser, Busch InBev, Staples, Beverages, Mizuho Securities Mizuho Securities, General, United Auto Workers, GM, Vehicles, UAW Locations: China, Wells, Friday's, North America, N.A

☆ Friday's analyst calls: Big drug stock upgrade, Alibaba downgrade, a new AI play
▼ + stars: | 2023-12-01 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The analyst lowered her price target to $99 from $106 per share. The new price target implies just a 5% gain from Thursday's close. The analyst's $115 price target, hiked from $70 previously, implies 43% upside from where the stock closed Thursday, at $80.36. ET: Morgan Stanley downgrades Alibaba Morgan Stanley cut Alibaba to equal-weight from overweight and lowered the firm's price target to $90 from $110. The analyst's $190 price target implies shares can rise just 2.6% from where they closed Thursday.

Persons: JPMorgan downgrades, Jessica Fye, Fye, Sarah Min, Wells Fargo, Andrew Nowinski, GenAI, Nowinski, FactSet, — Sarah Min, Morgan Stanley downgrades Alibaba Morgan Stanley, Alibaba, Morgan Stanley, PDD, John Melloy, Jason Bazinet, Bazinet, Johnson, Danielle Antalffy, Antalffy, Robert Ohmes, — John Melloy Organizations: CNBC, Spotify, JPMorgan, Investors, U.S, PDD Holdings, Citi, UBS, Johnson, Pharma, Bank of America, of America, Costco Locations: BioNTech, Thursday's, Wells Fargo, China, Darzalex, DARZALEX

☆ Stock futures rebound slightly with the S&P 500 mired in a correction ahead of a big week
▼ + stars: | 2023-10-29 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

U.S. stock futures opened higher slightly ahead of a big week filled with a Federal Reserve rate decision, jobs report and Apple's earnings report. S&P 500 futures added 0.3%, while Nasdaq-100 futures gained 0.4%. The S&P 500 fell into correction territory last week, shedding 2.5% for the week to put it down by 10.6% from its 2023 high. With surging interest rates as the main culprit of this stock market correction, investors will be hoping the Fed signals it could be done raising rates. The sell-off has been centered around Nasdaq and tech shares, which investors deem would be hurt the most by surging interest rates.

Organizations: New York Stock Exchange, Federal, Nasdaq, Dow Jones Industrial, Federal Reserve, Traders, Treasury, Apple, Dow, Big Tech, Google Locations: New York City, U.S

"We cannot yet know how long these lower readings will persist, or where inflation will settle over coming quarters." After a short delay, Powell noted the labor market and economic growth may need to slow to ultimately achieve the Fed's goal. "Still, the record suggests that a sustainable return to our 2 percent inflation goal is likely to require a period of below-trend growth and some further softening in labor market conditions," Powell said. "We're very far from the effective lower bound, and the economy is handling it just fine," Powell said. Robust job creation in September and a slow pace of layoffs could put progress on inflation at risk.

Persons: Jerome Powell, Powell Organizations: Economic, of New, Defiance, Fed Locations: of New York

☆ Cryptocurrencies rise, sending bitcoin over $30,000 at one point, on optimism for a new ETF
▼ + stars: | 2023-10-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

At one point Monday morning, bitcoin surged above $30,000 in a sudden spike on an unconfirmed report that the iShares spot bitcoin ETF had been formally approved by the Securities and Exchange Commission. Cryptocurrencies briefly soared to start the week as hopeful investors weighed the likelihood that the U.S. will finally see a bitcoin ETF in the coming months. Last week, bitcoin had jumped on Friday on news that the SEC would not appeal a ruling in Grayscale's lawsuit against regulators. In June of 2022, Grayscale sued the SEC over its denial of the company's application to convert the popular Grayscale Bitcoin Trust (GBTC) to an ETF. To be sure, bitcoin is coming off its worst week since Aug. 18 and first negative week in six.

Persons: bitcoin, Cryptocurrencies, rehearing, Paul Tudor Jones, Bernstein, Ripple's, —, Jesse Pound, Nick Wells, John Melloy Organizations: Securities and Exchange Commission, BlackRock, CNBC, SEC, Metrics, Appeals, Smart Locations: U.S

☆ The stock market has entered its worst 10-day stretch of the year historically
▼ + stars: | 2023-09-19 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

The stock market on Monday entered what historically is its worst seasonal stretch of days of the year, according to Bank of America. So far, the S & P 500 is true to form, down about 0.6% this week. There is also a slew of worker stoppages affecting the economy, along with higher oil prices and a looming government shutdown troubling investors. The S & P 500 was already in the red for the first part of September and Suttmeier noted that doesn't make this stretch a buying opportunity. For example, the market benchmark around 4,425 today is still well above its 200-week moving average of 3,914, so it's still in a "secularly bullish" trend, according to Suttmeier.

Persons: Stephen Suttmeier, Goldman Sachs, Suttmeier, — CNBC's Michael Bloom Organizations: Bank of America

☆ This internet stock nearly cut in half this year is ready for a big comeback, Wolfe Research says
▼ + stars: | 2023-09-14 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

Wolfe Research upgraded shares of Etsy , saying the one-time pandemic darling down nearly 50% this year is ready for a sizeable comeback. The firm raised its rating on Etsy to outperform from peer perform and set a $100 price target, representing more than 54% upside over the next 12 months. ETSY 5Y mountain Etsy - 5 years Etsy shares are down 46% so far in 2023 and about 80% from their pandemic high as inflation crimped consumers' wallets and investors dumped growth stocks in the wake of higher interest rates. Wolfe gave three reasons why the stock could rebound: a recovery in consumer spending with the improving economy, margin improvement potential and a better focus on its core franchise. "Our scenario analysis suggests that there are several paths for ETSY to reach over $850m in EBITDA in FY24," the note stated.

Persons: Wolfe, Deepak Mathivanan Organizations: Wolfe Research Locations: EBITDA

☆ Buy this warehouse club retailer with younger and wealthier customers than Costco, says TD Cowen
▼ + stars: | 2023-09-14 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

Shares of BJ's Wholesale Club are ready to make a comeback against rival Costco, according to TD Cowen. "We like BJ's wholistic approach to club membership engagement which incorporates digital analytics & a complete basket value proposition with strong appeal to a younger demographic," analyst Oliver Chen wrote in a note Thursday. But Chen sees BJ's catching up as it leverages its customer base, grows stores and takes some market share. The average BJ's customer is 43 years old with a $104,000 income, compared to an average age of 45 years old and income of $103,000 for the typical Costco customer, according to TD Cowen. To be sure, TD Cowen is bullish on Costco as well, rating the warehouse competitor outperform and seeing it as a top pick in the sector.

Persons: TD Cowen, Oliver Chen, Chen, BJ Organizations: BJ's Wholesale, Costco

☆ The company with the ticker 'AI' doesn't appear to be benefiting from AI boom, Bank of America says
▼ + stars: | 2023-09-07 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

"Results do not suggest that C3 is benefiting from growing demand for AI," analyst Brad Sills said of the company, which trades under the ticker AI. AI is the hottest trend going in the stock market with chipmaker Nvidia leading the way, up more than 200% this year. But it only reaffirmed its full-year revenue guidance, which to Sills "does not suggest C3 benefiting from AI tailwinds." "Following the release of ChatGPT in November of 2022, we're seeing a dramatic increase in demand for enterprise AI adoption," he said on the call. "In Q1, we experienced strong traction with our enterprise AI applications and especially strong traction with C3 Generative AI."

Persons: Brad Sills, Sills, Thomas Siebel, — CNBC's Michael Bloom, John Melloy Organizations: Bank of, Nvidia, LSEG, Bank of America Locations: Wednesday's

☆ Goldman Sachs cuts recession odds to just 15%, says a September Fed hike is 'off the table'
▼ + stars: | 2023-09-05 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

We view Chair Powell's promise at Jackson Hole to 'proceed carefully' as a signal that a September hike is off the table and the hurdle for a November hike is significant." "On net, our confidence that the Fed is done raising rates has grown in the past month," added Hatzius. Goldman also said taking out certain distortions shows underlying inflation may already be close to the Fed's 2% desired target. Goldman doesn't believe the Fed will start cutting rates anytime soon, in part because the firm sees the economy remaining strong. Hatzius said the Fed would begin "very gradual" rate cuts starting in the second quarter of next year.

Persons: Goldman Sachs, Jan Hatzius, Jackson, Nonfarm, Hatzius, Goldman, Goldman doesn't, — CNBC's Michael Bloom Organizations: Fed, Bloomberg Locations: U.S

☆ Tenbagger stocks that have more upside ahead
▼ + stars: | 2023-09-02 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

There is just a handful of stocks that have sizeable upside expectations ahead after seeing a more than 1,000% compound return over the last decade. We then looked for stocks where there is more upside potentially ahead. These names also have average analyst price targets implying an upside of at least 20%. The average upside suggests shares could gain around 34% over the next 12 months. Analysts see a reprieve from its current selloff on the horizon, with the average price target signaling an upside of more than 56%.

Persons: Wall, Goldman Sachs, Toshiya Hari, Hari, it's, — CNBC's Michael Bloom, John Melloy Organizations: CNBC Pro, Nvidia, Semiconductor, AMD, ON Semiconductor, Enphase Energy

☆ A 'tactical correction' is already underway in the stock market, says Bank of America
▼ + stars: | 2023-08-08 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

With stocks struggling again on Tuesday , Bank of America's chart analyst said a "tactical correction" is underway and may continue for a bit longer because of seasonal weakness historically in the upcoming period. "If the tactical resistances highlighted above contain interim rallies on the SPX, then a seasonal corrective phase should continue from the late July high." .SPX YTD mountain S & P 500 YTD With Tuesday's sell-off, the S & P 500 is off by about 3% from its 52-week high — falling as low as 4465 or so. The S & P 500 is typically flat in August and down 1.08% in September on average during the third year of the presidential cycle, Bank of America data showed. The report suggests investors may win by getting more defensive, rotating into utilities and staples for the time being.

Persons: Stephen Suttmeier, Suttmeier Organizations: Bank, Bank of America Securities, Bank of America

There are two likely scenarios: The Fed raises its fed funds rate, but Powell signals the inflation fight is far from over. Market rates are likely to shoot higher, benefiting a select group of stocks highlighted below, while causing the broader market to decline. In order to do this, we used the short-term bond fund, the iShares 1-3 Year Treasury Bond ETF, as our proxy for the bond market. Since rates increase when bond prices fall this gives us the stocks that could win today if rates increase. If rates move higher on the Fed, Primerica can charge higher rates for its insurance and financial products.

Persons: Jerome Powell, Powell, Marcelli Organizations: Federal Reserve, Fed, UBS Global Wealth Management, Reserve, CNBC, Russell, Treasury Bond ETF, Primerica, PayPal

☆ These cheap stocks pay safe and high dividends
▼ + stars: | 2023-07-19 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

Finding stocks paying high and safe dividend yields is getting harder as recession fears cause companies to hoard cash. With that in mind, CNBC Pro sought to find stocks that are paying high dividends that they can afford. Here was our criteria using data from FactSet: Dividend yield above 4%. Current forward price-earnings ratio is cheaper than its average forward P/E of the last five years. (Forward P/E looks at a share price relative to the consensus earnings estimate for the next 12 months.)

Persons: Dow, drugmaker, Carter's Organizations: Dow Jones, CNBC Pro, drugmaker Pfizer, Pfizer

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