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☆ Stocks making the biggest moves premarket: Target, Lululemon, Shopify and more
▼ + stars: | 2024-05-22 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Target — Target's shares tumbled more than 7% after first-quarter earnings missed estimates, driven by a year-over-year sales decline of about 3% as consumers bought fewer discretionary items. Shopify — The retail software stock rose 2.6% following a Goldman Sachs upgrade to buy from neutral. Urban Outfitters — The clothing retailer added 1.8% after beating Wall Street estimates for fiscal first-quarter results. PDD — PDD Holdings, the Chinese parent of discount retailer Temu, gained 7.6% after reporting a 131% increase in first-quarter revenue. Analysts surveyed by LSEG were looking for $4.14 per share on $2.53 billion of revenue.

Persons: —, Goldman Sachs, Morgan Stanley, Alex Harring, Jesse Pound, Sarah Min Organizations: Outfitters, Wall, Urban, PDD Holdings, Toll, Citi, Wall Street Journal

Analyst Ronald Epstein downgraded the electronics maker to underperform from neutral and slashed $15 off his price target to $150. Analyst Rupesh Parikh reiterated his outperform rating on the wholesaler, while lifting his price target by $45 to $850. Analyst Tal Liani reiterated his buy rating on the software stock and price target of $315. Analyst Gabriela Borges upgraded the retail software stock to buy from neutral and raised her price target by $7 to $74. He also slapped a $42 price target on the stock, implying upside of nearly 17%.

Persons: Goldman Sachs, Piper Sandler, Kraft Heinz, Ronald Epstein, Epstein, — Alex Harring, Oppenheimer, Rupesh Parikh, Parikh, Alex Harring, Daniel Grosslight, Grosslight, HIMS, he's, Tal Liani, Liani, CORA, it's, Morgan Stanley, Josh Baer, Baer, Box's, there's, Goldman, Gabriela Borges, Borges, Shopify, Michael Lavery, Lavery, KHC, Fred Imbert Organizations: CNBC, Garmin Garmin, Bank of America, Garmin, Costco, Citi, Kraft, ~$ Locations: Tuesday's, Swiss, Shopify

☆ Nvidia reports earnings after the bell: Here's what you need to know
▼ + stars: | 2024-05-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia reports earnings after the bell: Here's what you need to knowJoseph Moore, Morgan Stanley semiconductor analyst, joins 'Squawk Box' to discuss what to expect from Nvidia's quarterly earnings results, if there will be a pause in sales from Nvidia, and much more.

Persons: Joseph Moore, Morgan Stanley Organizations: Nvidia

☆ Here are Wednesday's biggest analyst calls: Nvidia, Meta, Tesla, Chipotle, Ferrari & more
▼ + stars: | 2024-05-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Wednesday's biggest calls on Wall Street: Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla but says it's only a matter of time before others automakers begin to take advantage of AI also. Morgan Stanley reiterates Meta as overweight Morgan Stanley said that, as users adopt the company's Reels product it becomes a "monetization opportunity." Morgan Stanley reiterates Dell as a top pick Morgan Stanley said Dell remains a favorite name at the firm. Morgan Stanley reiterates McDonald's as overweight Morgan Stanley said it's standing by the fast-food chain. Morgan Stanley reiterates Ferrari as overweight Morgan Stanley said it's standing by its overweight rating on the automaker.

Persons: Morgan Stanley, Tesla, Piper Sandler, Piper, Meta, Dell, JMP, Oppenheimer, it's, Goldman Sachs, Goldman, Kraft Heinz, McDonald's, Rosenblatt, John Malone, Sportico, Morgan Stanley downgrades, Generac, Jefferies, Needham, Stryker, Ferrari, MSFT Organizations: GM, Ford, Nvidia, Blackwell, ODM, Lenovo, Dell, China Tech Hardware, Costco, " Bank of America, Bank of America, Kraft, Brunswick, UBS, Brunswick Corporation, Atlanta Braves Holdings, Deutsche Bank, Waste Management, Deutsche, Price, Jefferies, Prudential, Lincoln National, Microsoft, Garmin, of America Locations: Coinbase, Shopify

☆ Morgan Stanley's Slimmon names tech stocks to buy at a 'reasonable price'
▼ + stars: | 2024-05-22 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Morgan Stanley Investment Management's Andrew Slimmon has been consistently bullish on stocks — even during periods of volatility. Given the "sky high" inflation numbers in 2022 and 2023, Slimmon said, it's "only natural" that inflation would be on a downward trajectory as the year-on-year comparisons were "relatively easy." Last week, the April consumer price index report in the U.S. showed that inflation eased slightly for the month. "The problem is, as we get into May number, June numbers, July numbers of last year, those CPI numbers really came down quite a bit," Slimmon told CNBC's " Street Signs Asia. " "When you think about Netflix, Amazon, you're talking about two [companies] that give a lot of value to their customers for a relatively reasonable price," Slimmon said.

Persons: Morgan Stanley, Andrew Slimmon, it's, Slimmon, CNBC's, —, Jeff Cox Organizations: Morgan Stanley Investment, CNBC, U.S . Federal Reserve, Treasury, Federal Reserve, Netflix, United Rentals, Waste Management Locations: U.S

☆ Stocks making the biggest moves after hours: Nvidia, Snowflake, VF Corp. and more
▼ + stars: | 2024-05-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines after the bell : Nvidia — The chipmaker added about 4% after announcing a 10-for-1 stock split . Nvidia also surpassed Wall Street's fiscal first-quarter estimates on the top and bottom lines, and it issued strong guidance for the current quarter. Fiscal first-quarter revenue surpassed the Street's expectations, coming in at $829 million, versus consensus estimates for $786 million, per LSEG. — The apparel and footwear company sank 9% after posting an unexpected loss for the recent quarter and revenue that fell short of Wall Street's estimates. VF Corp. posted a loss of 32 cents per share on $2.37 billion in revenue.

Persons: LSEG, FactSet, Synopsys, LiveRamp, Dow Jones, Goldman Sachs, Morgan Stanley, Ed Breen, Lori Koch, Breen, —, Darla Mercado, Sarah Min, Scott Schnipper, Christina Cheddar, Berk Organizations: Nvidia, Super Micro, Devices, Corp, VF Corp, LiveRamp Holdings, News Corp, JPMorgan, DuPont de Nemours, DuPont

☆ Jim Cramer points to new, 'very bullish' signs that Apple's China business is on the mend
▼ + stars: | 2024-05-21 | by ( Paulina Likos | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer sees Apple 's China business coming back — pointing to stronger monthly App Store numbers, due to activity in the world's second-largest economy. "This is very bullish," Cramer said Tuesday, reacting to Morgan Stanley data showing a mild acceleration of overall App Store growth in May to 11.7% year over year. As China drives more Apple services growth, Cramer said the "bull case of China being back" gains merit. Earlier this month, Apple delivered record quarterly revenue in high-margin services and guided a double-digit rate of growth for the June quarter. A potential catalyst for Apple stock could be next month's Worldwide Developers Conference.

Persons: CNBC's Jim Cramer, Apple, Cramer, Morgan Stanley Organizations: Apple, Club, That's Locations: China

☆ Morgan Stanley says shares of this Nvidia supplier could pop if AI leader gives a good forecast
▼ + stars: | 2024-05-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

One semiconductor supplier could win big from a strong outlook from chip giant Nvidia , according to Morgan Stanley. " TSMC is the sole supplier for NVDA AI GPU, so we view NVDA's July-quarter revenue guidance, due on May 22, as a key catalyst," wrote analyst Charlie Chan. "We would expect TSMC's share price to rise if NVDA's guidance were to beat expectations." Investors will closely monitor Nvidia's July revenue guidance, which the market regards as one of the most significant indicators of AI server demand. U.S.-listed shares of Taiwan Semiconductor have rallied 47% this year.

Persons: Morgan Stanley, Charlie Chan, Chan Organizations: Nvidia, Taiwan Semiconductor, Wall, U.S Locations: 2024e

☆ 5 investments Morgan Stanley recommends making as US stocks surge by up to 19% — and why a prominent Wall Street bear just abandoned his downbeat view
▼ + stars: | 2024-05-21 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

Since then, several major investment firms have lifted their long-term S&P 500 price targets. The firm recommends pairing cyclicals and growth stocks with those attributes so that investors are prepared for stronger or weaker growth. Technology firms using AI need more power, which is a major long-term tailwind for utility companies, Wilson wrote. "We see the recent pullback as an attractive entry point and an opportunity to formally upgrade the sector to overweight," Wilson wrote. "Small-cap valuation is relatively cheap but earnings growth is highly concentrated," Wilson wrote.

Persons: —, Brian Belski, Binky, Morgan Stanley, Long, Mike Wilson, subpar, Wilson, Wilson's, Goldman Sachs, Morgan, Morgan Stanley's Organizations: Service, Business, BMO Capital, Deutsche Bank, optimist, Consumer, Utilities

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Dell, Tesla, Disney, Gap, Hewlett Packard & more
▼ + stars: | 2024-05-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are the biggest calls on Wall Street on Tuesday: Morgan Stanley reiterates Tesla as overweight Morgan Stanley made the case in a note to investors that Elon Musk needs Tesla "more than ever before." Citi initiates Ferrovial at buy Citi said it's bullish on shares of the Dutch infrastructure and transportation company. Citi reiterates Dell as buy Citi raised its price target on the stock by 36% to $170 per share from $125. Morgan Stanley reiterates Apple as overweight Morgan Stanley said its checks show accelerating App Store growth ahead of expectations for Apple. Morgan Stanley names Taiwan Semiconductor a catalyst-driven idea Morgan Stanley said TSM is a likely beneficiary of a solid Nvidia earnings report on Wednesday.

Persons: Morgan Stanley, Tesla, Elon, Raymond James, Baird, it's, Evercore, Piper Sandler downgrades Sunnova, Piper, Brinker, Argus, Apple, TSM, NVDA, it's bullish, Lenz, LENZ Organizations: Elon, Caesars Entertainment, Penn, Penn Entertainment, Boyd Gaming Corporation, Inc, PENN Entertainment, JPMorgan, Therapeutics, Citi, Nvidia, Sunnova, Disney, Dell, Barclays, HP, Brinker International Inc, Apple, Taiwan Semiconductor, Gap Citi, GPS, " Bank of America, Lenz Therapeutics, Bank of America, Deutsche Bank, Deutsche, Recovery Software

☆ JPMorgan strategist stays stubbornly negative on stocks even as other Wall Street bears capitulate
▼ + stars: | 2024-05-21 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

A top strategist for JPMorgan is sticking with a pessimistic outlook for stocks despite a strong start to 2024 that's winning over other Wall Street skeptics. The JPMorgan note comes shortly after strategists from Deutsche Bank and Morgan Stanley raised their forecasts for the S & P 500. The stock market has outrun most Wall Street projections so far this year, with the S & P 500 up more than 11%. .SPX YTD mountain The S & P 500 has already surpassed the original year-end 2024 targets from major Wall Street strategists. Kolanovic's JPMorgan colleague Dubravko Lakos-Bujas has the lowest S & P 500 target — 4,200 — among major strategists, according to the CNBC Market Strategist Survey .

Persons: that's, Marko Kolanovic, Kolanovic, Morgan Stanley, Dubravko Lakos, Bujas, — CNBC's Michael Bloom Organizations: JPMorgan, Deutsche Bank, CNBC Market, Survey

☆ The last bear on Wall Street: Why JPMorgan's Marko Kolanovic is sticking by his forecast for a 20% market sell-off
▼ + stars: | 2024-05-21 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

JPMorgan's Marko Kolanovic sees no reason to turn bullish on the stock market despite record highs. In a Monday note, Kolanovic reiterated his view that the S&P 500 could fall 20% to 4,200. AdvertisementJust one day after Morgan Stanley CIO Mike Wilson abandoned his bearish stock market call, JPMorgan's Marko Kolanovic is digging his heels in. Kolanovic is the last mega-bank-bear on Wall Street, reiterating his view in a Monday note that the S&P 500 will fall about 20% to 4,200, levels not seen since October. And AI won't save the stock market, either.

Persons: JPMorgan's Marko Kolanovic, Kolanovic, —, Morgan Stanley, Mike Wilson, It's Organizations: Service Locations: Kolanovic

☆ Wall Street advisors are flocking to this small law firm to claw back pay from wealth giants like Morgan Stanley and Merrill Lynch
▼ + stars: | 2024-05-21 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

For Ajamie LLP, a Houston law firm with 11 attorneys, taking on banks with billion-dollar war chests is becoming a booming business. This ruling was used by a lawyer on another case, Ohio-based Alan Rosca, to secure a $3 million judgment against Morgan Stanley on March 25. He said he has been contacted by advisors hailing from "really any financial firm that offers deferred compensation to financial advisors." During that suit, Ajamie was contacted by Matt Shafer, the lead plaintiff in the Morgan Stanley case. The Morgan Stanley suit inspired Kelly Milligan, now the named plaintiff in the Merrill Lynch class action, to reach out.

Persons: —, Jack Edwards, Edwards, Morgan Stanley, Morgan Stanley's, Alan Rosca, Merrill Lynch, Sen, Ted Cruz, Wells Fargo, Wells, Ajamie, Matt Shafer, Kelly Milligan, It's Organizations: Service, Ajamie LLP, Business, University of Virginia School of Law, Big Law, RBC Capital Markets, Financial Industry Regulatory Authority Locations: Houston, Ohio, Ajamie, Texas, Carolina

Jefferies upgraded MercadoLibre to buy and raised its price target on the stock. Asiya Merchant kept her buy rating and and hiked up her price target by $45 to $170, which suggests shares could jump 16.9% from Monday's close. Nodding to the stock's strong recent performance, analyst David Koning downgraded Toast shares to neutral and maintained his $28 price target. Analyst Kashy Harrison downgraded the stock to neutral from overweight and lowered his price target to $4.50 from $9, implying 8.4% upside. He also raised his price target to $2,100 from $1,400, implying upside of about 20% over the next 12 months.

Persons: Jefferies, Piper Sandler, Asiya Merchant, Merchant, Dell, — Pia Singh, Baird, David Koning, Koning, Morgan Stanley, Chan, TSMC, Piper Sandler downgrades, Kashy Harrison, Harrison, Alex Wright, Wright, Fred Imbert Organizations: CNBC, Sunnova Energy, Citi, Dell, Citi Research, TAM, Taiwan Semiconductor, Nvidia, Energy, NOVA, Jefferies Locations: America, Monday's, Kong, securitizations

☆ Nvidia is talk of the town at AI events leading into this week’s earnings
▼ + stars: | 2024-05-21 | by ( Kif Leswing | ) www.cnbc.com time to read: +6 min

"We're still really early in the AI build," Niles told CNBC's "Money Matters" on Monday. "If you look at today for the AI build out, who's really driving that?" Lam Yik Fei | Bloomberg | Getty ImagesPrior to the recent AI boom, Nvidia was known as the primary maker of chips used for 3D gaming. That's not to say that Nvidia is at risk of losing a ton of the AI chip business to rivals. Piper Sandler analysts expect it to keep at least 75% of the AI accelerator market, even as companies like Google build their own custom chips.

Persons: Jensen Huang, Josh Edelson, Sundar Pichai, that's, Dan Niles, Niles, We're, CNBC's, Bernstein, Mark Zuckerberg, Huang, Lam, Fei, That's, Piper Sandler, Harsh Kumar, Blackwell, Hopper, Morgan Stanley, Joseph Moore Organizations: Nvidia, Intelligence, SAP Center, Afp, Getty, Google, Blackwell, Microsoft, Meta, Niles Investment Management, Cisco, Apple, Nvidia Corp, Bloomberg Locations: San Jose , California, Redmond , Washington, Taipei, Taiwan

☆ Nestle to launch Vital Pursuit frozen-food brand targeting GLP-1 users
▼ + stars: | 2024-05-21 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Nestle is launching a new frozen-food brand, Vital Pursuit, aimed at the growing market of consumers who are using GLP-1 drugs like Ozempic and Wegovy. In October, Walmart's U.S. CEO John Furner told Bloomberg that people who pick up GLP-1 drugs from its pharmacies are buying less food, typically with fewer calories. But Nestle sees an opportunity to cater to those consumers through Vital Pursuit. Vital Pursuit's packaging won't include mentions of GLP-1 medications, but Nestle said the company will more directly connect the brand to the drugs on social media. The food company expects that its global growth will slow this year as inflation-weary consumers buy less of its products.

Persons: Oprah Winfrey, Elon, Morgan Stanley, John Furner, Nestle, Steve Presley, Laffy, Ferrero, Presley Organizations: Nestle, Walmart's U.S, Bloomberg, Vital, North, CNBC, Toll, Lean, Swiss Locations: U.S, GLP

☆ Why I Quit Goldman Sachs' Rigid, Male-Dominated Culture
▼ + stars: | 2024-05-21 | by ( Lindsay Macmillan | ) www.businessinsider.com time to read: +11 min

The lack of female leadership in the financial industry is nothing new, but many companies have been making strides. But as I watch senior women continue their exodus from Goldman, I'm not sure the company actually wants to change. While many companies have modernized to embrace hybrid and remote work, Goldman has not. Rather than changing its "be in the office every day and grind it out" culture to better suit women, Goldman puts the onus on us to change ourselves to fit the model. But Goldman leadership seems to want the benefits of gender diversity without the hard work of supporting diverse leadership styles.

Persons: Goldman Sachs, —, Dina Powell McCormick, Beth Hammack, Stephanie Cohen, Goldman, I'd, It's, it's, Morgan Stanley, Jamie Dimon, David Solomon, I'm, hadn't, Julia Boorstin, — Goldman, I've, she's, Asahi Pompey, Yassaman Salas, Rebecca Anderton, Davies, Lindsay MacMillan Organizations: Street Journal, Goldman, Citi, JPMorgan, International Workplace, McKinsey, LinkedIn, CNBC, Deloitte, Asahi Locations: Canada, London, New York

☆ AI demand will push the power grid to the brink. Morgan Stanley says these stocks could benefit
▼ + stars: | 2024-05-21 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Companies that manufacture small, quickly deployable natural gas turbines and generators are poised to benefit as surging electricity demand from data centers creates major delays in adding new capacity to the power grid, according to Morgan Stanley. "We believe this greater appreciation for the current grid connectivity challenges will heighten investor interest in/focus on emerging 'time to power' solutions," the analysts told clients. Power projects waiting for connection to the Lone Star state's grid have surged from 17 gigawatts to about 40 gigawatts in less than two years, according to the analysts. There is also an extensive wait time for diesel-powered, backup generators for new data center projects, according to Morgan Stanley. Companies such as Cummins and Caterpillar are also poised to benefit because they manufacture natural gas-powered generators that provide backup power onsite, according to Morgan Stanley.

Persons: Morgan Stanley, Cummins Organizations: Lone Star, GE Vernova, Siemens Energy, Cummins, Caterpillar, GE Locations: U.S, Texas

☆ Here's how Disney’s streaming business can work toward Netflix-like profitability
▼ + stars: | 2024-05-21 | by ( Paulina Likos | ) www.cnbc.com time to read: +14 min

Disney's streaming margins, while still negative due to losses and nowhere near Netflix's, have improved significantly in recent quarters and are now on the doorstep of an important milestone. Disney's streaming overview Disney+ is its flagship streaming service across the globe. The ARPU discrepancy on Disney+ core helps explain why Netflix is much more profitable than Disney's streaming business. Given that Disney's streaming business has rolled out pretty much everywhere across the globe, Cruetz said moving forward "it's about driving more penetration in those markets." The latest is a matchup with Disney and HBO's parent Warner Bros Discovery , whose flagship streaming service is called Max.

Persons: Bob Iger, Disney, Iger, Covid, Morgan Stanley, It's, That's, Cowen, Doug Creutz, Hulu's, Cowen's Cruetz, Brandon Nispel, Cruetz, TD Cowen, Max, Creutz, cannibalization, it's, KeyBanc's Nispel, Wells Fargo, Jim Cramer's, Jim Cramer, Jim, Presley Ann Organizations: Disney, Netflix, ESPN, Reliance Industries, Century Fox, CNBC, Comcast, Capital, Warner Bros Discovery, Getty Locations: Netflix's, Hulu, India, Malaysia, Philippines, Thailand, U.S, Canada, Europe, Africa, West Asia, Los Angeles

☆ Stocks making the biggest moves midday: Hims & Hers Health, Norwegian Cruise Line, Target and more
▼ + stars: | 2024-05-20 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Wix.com — The web development company jumped more than 25% after it posted better-than-expected first-quarter results. Norwegian Cruise Line — The cruise line operator jumped more than 8% after Norwegian Cruise Line lifted its full-year earnings guidance. It also reported better-than-expected first-quarter results. Hasbro — Shares gained 3% after Morgan Stanley called Hasbro a top pick, saying its recent underperformance gives investors a strong entry point. Uranium stocks have recently gained after President Joe Biden signed a bill banning imports of Russian uranium for nuclear fuel.

Persons: Wix.com, Li Auto, Goldman Sachs, Morgan Stanley, Johnson, Elliott, Joe Biden, NuScale, — CNBC's Michelle Fox, Lisa Kailai Han, Alex Harring, Samantha Subin Organizations: Norwegian Cruise, Target, GameStop, Micron Technology, Hasbro —, Hasbro, Bloomberg News, Elliott Management, Nvidia, Microsoft, Dell Technologies Locations: Norwegian, U.S, NextDecade's Rio

☆ Stocks making the biggest moves premarket: Apple, Nvidia, Li Auto and more
▼ + stars: | 2024-05-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Apple — Apple shares slipped less than 1% after Reuters reported the technology giant is implementing aggressive discounts on its iPhones in China. Micron Technology — Shares moved 2.3% higher after Morgan Stanley upgraded the semiconductor company to equal weight from underweight. Johnson Controls — Shares rose 5% after Bloomberg News reported Elliott Management has built a more than $1 billion stake in the security and safety company. Teradyne – The semiconductor testing equipment stock rose nearly 3%. Goldman Sachs upgraded Teradyne to a buy rating, citing its recent strong quarter and expectations for a "cyclical recovery" within its system-on-chip design test business.

Persons: Morgan Stanley, Li, Johnson, Elliott, Goldman Sachs, —, Alex Harring, Michelle Fox Organizations: Apple, Reuters, Micron Technology —, Micron, Nvidia, Barclays, Stifel, Li Auto, GameStop, AMC Entertainment, Bloomberg News, Elliott Management Locations: China

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

☆ Morgan Stanley stock strategist Mike Wilson raises S&P 500 forecast to 5,400 after bearish call on 2024 fails to pan out
▼ + stars: | 2024-05-20 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

The U.S. equity strategist now expects the S & P 500 will rise to 5,400 by the second quarter of 2025. Just last week, the S & P 500 closed above 5,300 for the first time. His bull case of 6,350 represents roughly 20% upside over the next 12 months for the S & P 500. Deutsche Bank's Binky Chadha hiked his S & P 500 target to 5,100, noting the benchmark could pop to 5,500. But market strategists on average are anticipating the S & P 500 will fall to 5,220 by the end of 2024, according to CNBC's Market Strategist Survey .

Persons: Morgan, Mike Wilson, Wilson, Morgan Stanley's, Brian Belski, Chadha, Dubravko, Bujas Organizations: CNBC Market, Deutsche

☆ Microsoft announces new PCs with AI chips from Qualcomm
▼ + stars: | 2024-05-20 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Copilot+ PCs with AMD and Intel chips will follow, Microsoft said during a press keynote address on its campus in Redmond, Washington. AI models will be able to generate images based on written descriptions as well as drawings. Microsoft is banking on Qualcomm's energy-efficient Arm -based chips that can handle AI models to defend its Windows franchise. The new PCs can run some AI models locally without an internet connection. Microsoft has had little success in getting people to adopt Arm-based Windows computers, which haven't always performed as well as PCs running Intel or AMD chips.

Persons: Satya Nadella, Snapdragon, haven't, Morgan Stanley Organizations: Microsoft Corp, Microsoft, Windows, Qualcomm, Lenovo, Dell, HP, Asus, Acer, Samsung, AMD, Intel, Apple Locations: Jakarta, Indonesia, Redmond , Washington

☆ Cramer says activist interest in Johnson Controls is 'a gimme,' but worries about a steel stock
▼ + stars: | 2024-05-20 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Johnson Controls : Activist investor Elliott has built a more than $1 billion stake in the HVAC control firm, Bloomberg News reported. "The stock is up 22% [year to date], but it has lagged Trane . "It was just a mistake [to have an underweight rating on the stock]," Cramer said, adding later: "From 1995 on, you have to understand the moment inventories are lean, you've got to buy. Steel stocks: Analysts at Jefferies initiated coverage of steel stocks, beginning with a buy rating on Cleveland-Cliffs and U.S. Steel and hold ratings on Nucor and Steel Dynamics . JPMorgan Chase : The banking giant slightly raised its full-year net interest income outlook to $91 billion from $90 billion.

Persons: Jim Cramer's, Elliott, Jim Cramer, Morgan Stanley, Cramer, you've, I've, Frank Del Rio, Harry Sommer, He'll Organizations: CNBC, Club, Johnson, Bloomberg News, Micron Technology, Jefferies, Cliffs, . Steel, Steel Dynamics, JPMorgan Chase, Cruise Locations: Cleveland

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