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La-Z-Boy – The stock soared more than 19% after the furniture company topped Wall Street expectations for the fiscal fourth quarter. La-Z-Boy reported adjusted earnings of 95 cents per share on revenue of $554 million. This is above earnings estimates of 70 cents per share on revenue of $516 million, according to analysts polled by LSEG. Rocket Lab USA – Shares of the space company jumped around 9% after it signed a ten-launch deal with Japanese Earth observation company Synspective. Analysts polled by FactSet were expecting 82 cents per share in earnings on $1.7 billion of revenue.
Persons: Canaccord Genuity, Piper Sandler, Lennar, FactSet, Warren, Berkshire Hathaway, Buffett, , Alex Harring, Michelle Fox, Sarah Min, Yun Li Organizations: LSEG, NextEra Energy, Patterson Companies, Occidental Petroleum –, Semiconductor, VanEck Semiconductor, Micron Technology, Qualcomm, Nvidia Locations: Monday's, Houston
Bank of America is getting more optimistic on an economic recovery — and it believes the biggest winners in the inflection period could be small-cap stocks. The average analyst price target on shares suggests 17% additional upside, according to Refinitiv. The consensus analyst price target is $38.82, which implies shares could rally more than 16% from Friday's close. URBN YTD mountain Urban Outfitters shares Dental products supplier Patterson Companies also made the list of promising small-cap names as the economy begins an inflection stage. Four-fifths of analysts covering the stock give it a hold rating, and the average price target suggests only 5.3% upside potential.
Persons: Jill Carey Hall, Cash, — CNBC's Michael Bloom Organizations: of America, Russell, Energy, Northern Oil, Chord Energy, RBC Capital, Oil, Gas, Urban, Urban Outfitters, Patterson Companies Locations: U.S, Friday's
As August is known to be, it's been a rough month-to-date for all three of those stock market benchmarks so far. This past week, the overall market was oversold, according to Jim Cramer's trusted S & P Oscillator. After Friday's strong finish, we'll see if the market's oversold condition abates as two major themes play out in the week ahead: Earnings from two Club names — Salesforce (CRM) and Broadcom (AVGO) — and key economic reports ahead of September's Fed meeting. Outside of the labor market and inflation, we'll also get a look at the housing market with the pending home sales on Wednesday. As we heard from fellow Club name Palo Alto Networks (PANW) last week, companies are growing more cautious and more closely scrutinizing large sales deals.
Persons: Jerome Powell's, Powell, it's, Jim Cramer's, Friday's, , It's, we've, we'll, we're, Salesforce, AVGO, We're, Brown, Forman, Campbell Soup, LULU, Jim Cramer, Jim, Angela Weiss Organizations: Nasdaq, Federal, Nvidia, Dow Jones, Broadcom, Fed, Labor, Club, Palo Alto Networks, VMWare, HEICO Corporation, Bank of Montreal, BMO, Bank of Nova, Hewlett Packard Enterprise, HP, PVH Corp, Patterson Companies, Veeva Systems, UBS, Academy Sports, Hormel, Signet Jewelers, Dell Technologies, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: Jackson Hole , Wyoming, China, Bank of Nova Scotia, New York City
An American flag hangs behind traders working on the floor of the New York Stock Exchange (NYSE) on October 11, 2019 in New York City. Morgan Stanley, for example, has adopted a downbeat view for the months ahead. Falling prices, Morgan Stanley explained, can cut into revenue growth and weigh on earnings. "This should begin to hit asset prices by the end of this month and carry into the fall," Morgan Stanley strategists said. To Stockton, the S&P 500 could soon trade as high as 4,510, or about 3% higher than current levels.
Persons: I'm Phil Rosen, Jerome Powell, Drew Angerer, Morgan Stanley, Mike Wilson, Katie Stockton, Stockton, Morgan Stanley's bearishness, Rick Bowmer, Tom Lee, Phil Rosen, Jason Ma, Hallam Bullock Organizations: Capitol, Financial Services, Committee, Fed, New York Stock Exchange, NYSE, Advance, Bank of England, Patterson Companies, Winnebago Industries, Bloomberg, Manheim Locations: American, New York City, Stockton, Salt Lake City, London, China, Europe, New York, Los Angeles
Also on tap are several speaking engagements for Federal Reserve members, including Chair Jerome Powell on Wednesday and Thursday in his semiannual monetary policy report to Congress. ET: St. Louis Fed president Jim Bullard speaks 8:30 a.m. ET: Federal Reserve Chairman Jerome Powell speaks 12:25 am. ET: Federal Reserve Chairman Jerome Powell speaks 10:00 a.m. Federal Reserve Board Chairman Jerome Powell departs after speaking during a news conference following the Federal Open Market Committee meeting, at the Federal Reserve in Washington, DC, on June 14, 2023.
Persons: Jerome Powell, Louis, Jim Bullard, John Williams, Austan Goolsbee, Loretta Mester, Tom Barkin, Friday's, Jim Cramer's, Jim Cramer, Jim, Mandel Ngan Organizations: Federal Reserve, Darden, FedEx, Louis Fed, Housing, NY Fed, Federal, Chicago Fed, Patterson Companies, Winnebago Industries, Algoma Steel, Cleveland Fed, Richmond Fed, Commercial Metals, U.S, Treasury, Jim Cramer's Charitable, CNBC, AFP, Getty Locations: United States, Olive, Washington ,
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