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☆ Rivian, Lucid and other EV startups scramble to shore up cash and reassure Wall Street
▼ + stars: | 2024-05-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

In this article NKLARIVNLCID Follow your favorite stocks CREATE FREE ACCOUNTR1T trucks on the assembly line at the Rivian electric vehicle plant in Normal on April 11, 2022. Stock Chart Icon Stock chart icon Performance of Rivian, Lucid and Nikola stocks over the past year. Rivian reported $7.86 billion in cash, cash equivalents, and short-term investments to end March, with more than $9 billion in total liquidity. Lucid, for its part, ended the first quarter with approximately $4.6 billion in cash, cash equivalents and investments, with total liquidity of approximately $5.03 billion. Unlike Rivian and Lucid, Nikola is exclusively focused on commercial vehicles rather than ones to retail customers.

Persons: Brian Cassella, Tesla, Itay Michaeli, Rivian, Rivian's, Peter Rawlinson, he's, Rawlinson, " Rawlinson, LSEG, Nikola, Thomas Okray, Okray, Derek Jenkins, David Swanson Organizations: Tribune, Service, Rivian, Lucid Group, Nikola Corp, Wall Street, Citi, Saudi, Public Investment Fund, Wall, Lucid, Los Angeles Auto Locations: Normal, Illinois, Georgia, Normal , Illinois, Los Angeles , California, U.S

☆ Stocks making the biggest moves midday: Uber, Intel, Lyft, Shopify, Rivian and more
▼ + stars: | 2024-05-08 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

The company's overall revenue exceeded expectations, coming in at $10.13 billion versus analysts' estimate of $10.11 billion, per LSEG. Lyft – The ride-sharing company surged 5% after the company reported faster-than-expected growth in the first quarter. Lyft reported $1.28 billion in revenue, higher than the FactSet consensus of $1.16 billion. Arista Networks – Shares jumped 7% after the company reported better-than-expected first quarter results. Teva Pharmaceuticals — Shares advanced nearly 14% after the company reported better-than-expected revenue in the first quarter.

Persons: Lyft, FactSet, Rivian, Coupang, LSEG, Twilio, –, —, Samantha Subin, Tanaya Macheel, Michelle Fox, Alex Harring Organizations: Technologies, Revenue, LSEG, Intel, Department of Commerce, Huawei, Lyft, Electronic Arts, EA, Farfetch, Arista Networks –, Arista, Dutch Bros, Bros, Pharmaceuticals, Management Locations: China, Korea

☆ Stocks making the biggest moves after hours: Reddit, Lyft, Rivian, Twilio and more
▼ + stars: | 2024-05-07 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Wynn Resorts — The resort-and-casino stock added 2.3% on the back of better-than-expected first quarter earnings. However, the California-based company saw $253 million in revenue for the three-month period, above the consensus forecast of $247 million. Toast — The cloud-based restaurant management software company saw shares jump more than 2% in extended trading after its earnings report. Twilio expects revenue to range between $1.05 billion and $1.06 billion versus an LSEG average estimate of $1.08 billion. The quarter "saw early indications of market share gains in hereditary cancer and prenatal testing," management said.

Persons: Reddit, Lyft, Rivian, Wynn, LSEG, Sonos, —, Yun Li, Hakyung Kim, Pia Singh, Darla Mercado, Scott Schnipper, Samantha Subin Organizations: FactSet, LSEG, Rivian, Wynn Resorts, Arts, Arista Networks, Wall, Myriad Locations: California

☆ Earnings will drive the market next week — what we expect from 2 portfolio stocks
▼ + stars: | 2024-05-04 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

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

☆ Interest rates and the AI-fueled rally remain top of mind for stock investors in the week ahead
▼ + stars: | 2024-05-03 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

The Fed and economic policy were top of mind this week given the central bank's Wednesday decision to yet again leave interest rates unchanged , as it has since last summer. This week included the conclusion of April's trading month, which marked the first down month of the year for all three major market averages. Indeed, some recent earnings reports have raised doubts about the economy, with brands from McDonald's and Starbucks evidencing signs of strain among consumers. While no new inflation numbers are scheduled for release next week, investors will see reports on March wholesale inventories, March consumer credit and May consumer sentiment from the University of Michigan. AI trade Though interest rates took center stage this week, investors also continued monitoring companies tied to the artificial intelligence boom amid the stocks' recent choppiness.

Persons: they're, Jerome Powell, Larry Tentarelli, David Donabedian, Sam Stovall, There's, Stovall, Tom Hainlin, Tentarelli, CFRA's Stovall, Lyft, Cabot, Aramark, Tempur Sealy, Nikola, Walt Disney, Sally Beauty, Warby Parker, Krispy Kreme, Papa John's Organizations: Federal Reserve, Treasury, Nasdaq, Dow Jones, CIBC Private Wealth, Dow, CFRA, Citigroup, Bank of America, U.S, Bank Wealth Management, University of Michigan, Nvidia, Disney, Spirit Airlines, Tyson Foods, Pharmaceuticals, Lucid, Palantir Technologies, Simon Property, Tech, Lab, Goodyear Tire, Noble Corp, Vornado Realty, Coty, BellRing, Consumer, UBS, BP, Nintendo, Bloomin, Duke Energy, Rockwell Automation, Ferrari, NRG Energy, Electronic Arts, Cirrus, Adaptive Biotech, Arista Networks, Dutch Bros, Holdings, Virgin Galactic, IAC, Rivian Automotive, Brighthouse, Occidental Petroleum, Assurant, Kinross Gold, Labs, Diamond, Reddit, Anheuser, Busch InBev, Embraer, Health, United Parks & Resorts, Emerson Electric, Brookfield , New York Times, Food, Reynolds Consumer Products, Teva Pharma, Uber Technologies, Dine Brands, Liberty Broadband, Fox Corp, Cushman &, Liberty Media, Arm Holdings, Kodiak Gas Services, Solaredge Technologies, AMC Entertainment, Cheesecake, News Corp, Toyota Motors, Fair, US Foods, Hyatt Hotels, Warner Bros, Hilton, Warner Music Group, Unity Software, Insurance, Gen, Honda, AMC Networks Locations: Central, McDonald's, Expeditors, Occidental, Angi, Brookfield , New, Ambev, Cushman & Wakefield, Michigan

☆ Beware of these stocks at risk of a major earnings 'blowup'
▼ + stars: | 2024-04-17 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

First-quarter earnings season is just getting started, but investors may want to keep a close eye on a group of stocks at risk of a profit "blowup," according to Wolfe Research. The basket includes stocks that show up most often in the firm's short screens and filters companies based on earnings quality with 0 the worst and 100 the best. Tesla scores a 2 on Wolfe Research's earnings quality scale, showing up six times on the firm's short screens. Wolfe Research named Pinterest as another short idea, saying it was on four of the firm's short screens. Both stocks appear on four of the firm's short screens and have earnings quality scores in the 20s.

Persons: Morgan Stanley, Wolfe, Tesla, J.M Smucker Organizations: Wolfe Research, Bank of America, Elon, Rivian Automotive, Walgreens Boots Alliance, Juniper Networks, L3Harris Technologies Locations: China, Irvine , California

The firm initiated coverage on the stock with a buy rating and $60 price target, implying 37.2% upside from where shares closed on Monday. Analyst Mark Lipacis has a target price of $1,160 on shares, suggesting around 35% upside from where shares closed on Monday. However, it kept its $9 price target, which implies upside of just 7.7% over the next 12 months. The stock price now better considers some of our midterm concerns," worte analyst Joseph Spak. Analyst Frank Lee also raised his price target to $225 from $180, implying shares rallying nearly 38% from Monday's close.

Persons: Rivian, Goldman, DraftKings, Goldman Sachs, Ben Miller, Miller, — Hakyung Kim, Joe Ritchie, Ritchie, Nvidia isn't, it's, Mark Lipacis, Lipacis, Hakyung Kim, hasn't, Nicole DeBlase, DeBlase, Joseph Spak, we'd, Fred Imbert, Frank Lee, Lee, Nvidia's GB200 Organizations: CNBC, UBS, HSBC, AMD, US Online Gaming, GE, GE Vernova, General Electric, Nvidia, ISI, Honeywell, Deutsche Bank, Deutsche, Rivian Automotive Locations: NVDA, Monday's

☆ The quiet rally in energy continues, lifting our lone oil-and-gas stock higher
▼ + stars: | 2024-03-25 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

The rally this month comes alongside roughly $3-per-barrel rally in the price of oil, while natural gas has slipped back. "There's a piece in the Wall Street Journal about how AI data centers will consume so much power that it could overwhelm the grid. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Coterra, Nelson Peltz, Jim, Mizuho, Ford, Eaton, Jim Cramer's, Liz Hampton Organizations: CNBC, Dow Jones Industrial, Nasdaq, Energy, Club, Disney, Barclays, Nvidia, GTC, Ford, Rivian Automotive, Eaton Corp, Street Journal, Jim Cramer's Charitable Locations: California, Loco Hills, New Mexico, U.S

☆ Stocks making the biggest premarket moves: Rivian, Micron, Adobe, Ulta and more
▼ + stars: | 2024-03-15 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading: Rivian Automotive — The EV stock added nearly 4% following an upgrade by Piper Sandler to overweight . Adobe — Shares fell 11% a day after the software company issued weak revenue guidance for its current quarter. Ulta Beauty — Shares tumbled 6.5% a day after the beauty retailer issued full-year earnings guidance that came in on the low end of the consensus forecast. Revenue guidance is in the range of $110.5 million and $112.5 million also below the $113.4 million analyst expectation. Revenue guidance also fell short.

Persons: Piper Sandler, Alexander Potter, Ulta, bitcoin, amortization, Zumiez, —, Sarah Min Organizations: Micron Technology, Citi, Micron, Adobe Locations: cryptocurrencies, FactSet

☆ Stocks making the biggest moves midday: Adobe, Ulta, Micron Technology, Rivian Automotive and more
▼ + stars: | 2024-03-15 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Adobe — Shares slipped 15% after the software company issued weak revenue guidance for its current quarter. Revenue guidance came out in the range between $110.5 million and $112.5 million, also below the $113.4 million expectation from analysts. Smartsheet — The business software provider retreated by 3.2% after posting revenue guidance that was worse than analysts expected. Ulta Beauty — Shares edged lower by 5.3% after the beauty products retailer posted disappointing full-year earnings guidance. Steel Dynamics — Shares of the Indiana-based steelmaker rose more than 2% after strong earnings guidance for the first quarter.

Persons: Geron, Piper Sandler, Jabil, PagerDuty, Smartsheet, Ulta, Stocks, cryptocurrencies, bitcoin, MicroStrategy, Cardlytics, —, Alex Harring, Jesse Pound, Lisa Kailai Han, Michelle Fox Theobald Organizations: Geron, U.S, Food, Drug Administration, Micron Technology, Citi, Micron, Adobe, FactSet, Marathon, Steel, Steel Dynamics, Wall Street Locations: Indiana

CNBC Pro screened to find the stocks that have moved most in line with bitcoin over the last 50 trading days. We looked at the relationship between the stocks and the flagship crypto over that period, as well as the average rolling correlation over the same time period. Here are the top seven names with the highest rolling correlations: The stocks with the highest correlations should come as no surprise. Further down the list, the connections between the stocks and bitcoin are less immediately clear. The electric vehicle maker has a rolling correlation of 0.31, clinching the sixth spot on the screen.

Persons: bitcoin, QuantumScape, FactSet Organizations: CNBC Pro, Marathon, Riot

☆ Rivian shares surge as company reveals new EV models, $2.25 billion in cost savings
▼ + stars: | 2024-03-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Rivian CEO RJ Scaringe, in announcing the company's upcoming R2 SUV, also revealed two additional crossovers called the R3 and R3X, a performance variant. The Rivian R3 electric vehicle is unveiled at the Rivian South Coast Theater in Laguna Beach, California, on March 7, 2024. The Amazon -backed company has been burning through cash to improve current EV production and narrow losses. Shifting production of the R2 from the in-development plant in Georgia to the company's plant in Normal, Illinois, will save $2.25 billion, Rivian said in a press release. Rivian CEO RJ Scaringe speaks at an event to unveil a smaller R2 SUV during an event in Laguna Beach, California, U.S., March 7, 2024.

Persons: RJ Scaringe, Mike Blake, It's, Patrick T, Fallon, CNBC's Phil LeBeau, Scaringe, Rivian Organizations: Reuters, Rivian Automotive, Coast Theater, AFP, Getty Locations: Laguna Beach , California, U.S, Georgia, Normal , Illinois

☆ Ride the bull market wave with these top stocks in March, Morgan Stanley says
▼ + stars: | 2024-03-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Analysts at Morgan Stanley have named a slate of stocks to buy as March gets underway. The firm said investors should bet on the market's momentum by scooping up shares of undervalued companies. They include HashiCorp , Rivian Automotive , Dell Technologies, Sun Country Airlines and Huntington Bancshares. The stock is down 26% over the last 12 months, but the firm said investors should buy the dip. HashiCorp Analyst Sanjit Singh upgraded the cloud-computing infrastructure company to overweight from equal weight earlier this week.

Persons: Morgan Stanley, scooping, Ravi Shanker, Shanker, Sanjit Singh, Singh, Adam Jonas, —, Jonas, Rivian, Dell, …, Huntington, HBAN Organizations: CNBC, Rivian Automotive, Dell Technologies, Sun Country Airlines, Huntington, Amazon, Rivian, Airlines Locations: Huntington Bancshares

☆ Here are Thursday’s biggest analyst calls: Nvidia, Rivian, Sunrun, DoorDash and more
▼ + stars: | 2024-02-22 | by ( Hakyung Kim | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Morgan Stanley raises Nvidia price target Morgan Stanley increased its price target on shares to $795 from $750 after the chipmaker's earnings announcement. " UBS reiterates Nvidia as buy, but trims price target UBS reiterated its buy rating on Nvidia but reduced its price target to $800 from $850. Morgan Stanley upgrades DoorDash to overweight from equal weight Morgan Stanley's upgrade comes after the stock fell around 10% since its earnings report on Feb. 15. Morgan Stanley reiterates overweight rating on Rivian Automative Morgan Stanley kept its overweight rating on Rivian , but cited concerns on the company's outlook. Jefferies reiterates Sunrun as buy Jefferies also raised its price target on Sunrun to $31 from $25, implying shares nearly doubling from Wednesday's close.

Persons: Morgan Stanley, Goldman Sachs, Nvidia Goldman, Morgan, Rivian, Automative Morgan Stanley, Jefferies, Sunrun, Bernstein, Wendy's, Wendy, TD Cowen, Cowen, COTY, Cantor Fitzgerald, Root, Cantor, Remitly Organizations: NVIDIA, UBS, Nvidia, Data Center, RBC, Rivian Automotive, EV, Petrobras, ITC, Coty, BMO, Markets Locations: Argentine, China, Brazil, 2024E

☆ Stocks making the biggest moves after hours: Nvidia, Etsy, Rivian, Lucid Group and more
▼ + stars: | 2024-02-21 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Lucid Group — Shares slid nearly 7% in extended trading after the electric vehicle company posted a revenue miss as losses widened. Etsy — The online marketplace saw shares drop 6% in extended trading after the company posted an earnings miss. Etsy posted earnings per share of 62 cents, compared to an LSEG estimate of 78 cents. In the fourth quarter, Rivian lost $1.36 per share, 4 cents lower than the per share estimate from LSEG. Synopsys' earnings came in at $3.56 per share, excluding items, higher than an LSEG estimate of $3.43 per share.

Persons: Etsy, Rivian, Synopsys Organizations: Nvidia, Rivian, Wall

☆ 4 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-02-17 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

A hotter-than-expected consumer price index on Tuesday sent stocks reeling, with the Dow posting its biggest drop in a year. Stocks bounced back over the next two days, helped by a softer retail sales report , only to slump again on Friday's hot producer price index for January. As we said this week, we're not overly concerned with the hotter-than-expected inflationary readings. Earnings season picks back up for the Club next week, with four holdings set to report quarterly results. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Wall, Stocks, we're, Palo, Fortinet, BCH's Bausch, Management doesn't, Dana, Bausch, Dr Pepper, Diana Shipping, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Walid Berrazeg Organizations: Dow Jones Industrial, Nasdaq, Dow, Federal Reserve, Club, Palo Alto, Palo, billings, Nvidia, Amazon, Microsoft, Bausch Health, Coterra Energy, Management, NYSE, Walmart, Axsome Therapeutics, Barclays Bank, Armstrong World Industries, Ceragon Networks, Tri Pointe Homes, Dana Incorporated, DigitalBridge, Oil States International, Systems, Allegion, CenterPoint Energy, Equitrans Midstream Corporation, Expeditors International of Washington, Alto Networks, SolarEdge Technologies, Enovix Corporation, Caesars Entertainment, Diamondback Energy, Toll, Ternium S.A, Celanese Corp, Chesapeake Energy, CVR Energy, Reserve, Vertiv Holdings Co, Properties Trust, Devices, HSBC Holdings plc, HSBC, Lomb, Sinclair Corporation, Pagaya Technologies, Gibraltar Industries, Garmin, NVIDIA, Rivian Automotive, Sunnova Energy International, Bros, Apache, Oil, Suncor Energy, Co, FNF, Sciences, Coeur D'Alene Mines, Trip.com, Joby Aviation, Resources, Alamos, Jackson, Nutrien, NTR, Pan, Sm Energy Company, Health, Newmont, Nikola Corporation, Cheniere Energy, Fiverr, Natural Resources, Point Credit, Lantheus Holdings, Builders, Grab Holdings, NICE, Dominion Energy, Harmony Biosciences Holdings, Teck Resources Limited, Intellia Therapeutics, Energy, Booking Holdings, Intuit, Semiconductor, Nation Entertainment, Vale S.A, Rocket Companies, Warner Bros ., AerCap Holdings, Natural Holdings, Calumet Specialty Products Partners, Frontier Communications, Jim Cramer's Charitable, CNBC, Lightrocket, Getty Locations: billings, Palo Alto, China, Xifaxan, Tri Pointe, Avista, Gibraltar, Coeur D'Alene, Pan American, Teck, Vale

☆ Stocks making the biggest moves premarket: Rivian, Rocket Lab, Hershey, Lowe's and more
▼ + stars: | 2024-02-12 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Rocket Lab — The stock rose around 1% after Citi reinstated coverage with a buy rating. Lowe's — The home improvement retailer added 1.7% after JPMorgan raised its rating on shares to overweight from neutral. Urban Outfitters — Shares rose more than 2% after an upgrade from UBS ahead of the retailer's fourth-quarter earnings release slated for this month. On Monday, Bank of America Securities reiterated a neutral rating on the stock, but noted leadership has "the playbook to turn things around." Marqeta — Shares of the card issuing technology company rose 6.5% premarket after a Bank of America upgrade to buy from neutral on Monday.

Persons: Hershey, Morgan Stanley, Jason Gursky, Piper Sandler, Lowe's, XPO, BofA, CNBC's Michelle Fox, Sarah Min, Tanaya Macheel Organizations: Citi, Space Development Agency, U.S ., Teva Pharmaceutical Industries, JPMorgan, Federal Reserve, UBS, Barclays, New York Community Bancorp, Bank of America Securities, Bank of America

Shanker also raised his price target to $80 from $75, suggesting nearly 34% downside from Friday's close. — Spencer Kimball 8:16 a.m.: Loop Capital upgrades Corteva, touts growth acceleration in 2025 Corteva's stronger-than-expected 2024 full-year guidance will jumpstart a period of strong growth, according to Loop Capital. The firm upgraded the agricultural chemicals company to buy from hold and increased its price target to $65 from $57. Analyst Jay Sole upgraded Urban to neutral from sell and upped his 12-month price target by $20 to $41. Kaufman's $183 price target indicates roughly 6.3% downside for shares, which have fallen more than 18% over the past year.

Persons: headwinds, Morgan Stanley downgrades XPO, Morgan Stanley, Ravi, Shanker, — Michelle Fox, Julien Dumoulin, Smith, Duke's, — Spencer Kimball, Chris Kapsch, Kapsch, Brian Evans, Cassie Chan, they'll, Chan, —, Jay Sole, URBN, Sole, Urban's, — Pia Singh, Filippo Falorni, Falorni, Hershey, Stanley, Pamela Kaufman, Kaufman's, Hershey's, Kaufman, Graham Doyle, Doyle, Piper Sandler, David Amsellem, Amsellem, Amsellam, Christopher Horvers, Jan, Horvers, Fred Imbert, Dan Levy, Levy Organizations: CNBC, Barclays, Automotive, JPMorgan, Corp, Bank of America, Bank of America downgrades Duke Energy, Duke Energy, Duke, Wall, America, UBS, Urban Outfitters, Free People, Urban, Citi, PepsiCo, Citi Research, Pepsi, Hershey, GE Healthcare Technologies, UBS GE Healthcare Technologies, Pharmaceutical, Teva Pharmaceutical, Federal, Barclays downgrades Rivian, Rivian Automotive, North American EV Locations: Bank of America downgrades, GEHC, David Amsellem U.S

Amazon on Thursday reported better-than-expected revenue and profits for the fourth quarter, driven by strong consumer spending during the holiday shopping season. The Seattle-based e-commerce company said it earned $170 billion in revenue and $10.6 billion in profits during the last three months of 2023, beating expectations from analysts surveyed by FactSet. In a statement, Amazon CEO Andy Jassy called it a “record-breaking” holiday shopping season for Amazon. The company said its online retail business earned $70.5 billion in revenue during the quarter, a 9% jump compared to $64.53 billion during the same period in 2022. Roughly an hour before it released its earnings on Thursday, Amazon announced a new generative AI-powered shopping assistant called Rufus.

Persons: Andy Jassy, Rufus, – Organizations: FactSet, Amazon, San Locations: Seattle, San Francisco

☆ The IPO market should pick up in 2024. Here are the hottest companies set to make their debut
▼ + stars: | 2024-01-20 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

After a tepid year in the IPO market, investors are hopeful 2024 will bring about a return to form. But the IPO market cratered in 2022 after the Federal Reserve's aggressive rate hiking campaign collapsed investor demand for growth stocks. But happier days could be ahead for the IPO market in 2024. According to Linqto's 2024 IPO Sentiment Survey released Thursday, only a little more than half, 52%, of 2,500 traders polled are anticipating a significant recovery in the IPO market this year, suggesting "cautious optimism" ahead. "There's a lot more optimism for the IPO market," said Akshata Bailkeri, head of research at EquityZen, a platform for pre-IPO activity.

Persons: Akshata Bailkeri, Bailkeri, Wilson, EquityZen's Bailkeri, Shein, Shein confidentially, Reddit, that's, Andrew Low Ah Kee, Low Ah Kee, Ah Kee, Skims Skims, Kim Kardashian, Andy Muir, Muir, Jordan Brand, Amer, Roxanna Islam, Troy Gayeski, Gayeski, EquityZen's Organizations: Robinhood, Ford, Amer Sports, CNBC, U.S, Reuters, National Football League, Commerce, Nike, Wilson, FS Investments, U.S . Census, World Bank Locations: Snowflake, IPOs, Silicon, China, Opendoor, U.S

☆ Tech firms, Wall Street lead job cuts in Corporate America
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +9 min

TECHNOLOGY, MEDIA AND TELECOM SECTORMeta Platforms (META.O):The Facebook-parent said it would cut 10,000 jobs, just four months after it let go 11,000 employees. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. The company laid off under 1,000 employees across several divisions in October, Axios reported, citing a source. Workday (WDAY.O):The software company will cut roughly 500 jobs, or 3% of its workforce, citing a challenging macroeconomic environment. Morgan Stanley (MS.N):The Wall Street powerhouse was planning to cut about 3,000 jobs in the second quarter ended June 30, Reuters reported in May.

Persons: Brendan McDermid, Goldman Sachs, Axios, Pat Gelsinger, Elon Musk, Morgan Stanley, Lazard, Coinbase, cryptocurrencies, Phillips, Johnson, Joseph Wolk, Deborah Sophia, Akash Sriram, Granth Vanaik, Eva Mathews, Yuvraj Malik, Sourasis Bose, Priyamvada, Tiyashi Datta, Manya Saini, Jaspreet Singh, Maju Samuel, Sriraj Kalluvila, Pooja Desai Organizations: REUTERS, TELECOM, Meta, Facebook, IBM Corp, Spotify Technology SA, Spotify, Microsoft Corp, Intel Corp, Reuters, New York Times, Elon, Cisco Systems, HP, Rivian, Match, Dell Technologies, Technologies, U.S . Central Intelligence Agency, Goldman Sachs, Wall, Citigroup, Bloomberg News, BlackRock, Bed, Dow, Johnson, 3M, Thomson Locations: New, Wall, U.S, York, New Jersey, Bengaluru

The logo of a Tesla electric vehicle is placed on a car outside a dealership in Drogenbos, Belgium November 25, 2023. REUTERS/Yves Herman/File Photo Acquire Licensing RightsDec 1 (Reuters) - Tesla shares (TSLA.O) fell about 2% on Friday after the highly anticipated launch of its Cybertruck left analysts concerned about the electric vehicle's steep price tag and a longer wait for significant financial payoff. Musk has said Tesla was likely to reach a production rate of roughly 250,000 Cybertrucks a year in 2025. At $235.45, Tesla was set to lose about $15 billion in market valuation on Friday. "Cybertruck is more of a 'halo' product, in our view, to attract consumers to the brand for the mainstream vehicles Model 3 and Model Y," RBC Capital Markets analyst Tom Narayan said.

Persons: Yves Herman, Elon Musk, Wedbush, Bernstein, Musk, Tesla, Tesla's, Rivian, R1T, Tom Narayan, Samrhitha Arunasalam, Chavi Mehta, Devika Organizations: REUTERS, General Motors, Hummer, RBC Capital, Thomson Locations: Drogenbos, Belgium, Bengaluru

☆ US manufacturing stays depressed in November-ISM
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Kamil Krzaczynski/File Photo Acquire Licensing RightsWASHINGTON, Dec 1(Reuters) - U.S. manufacturing remained subdued in November, according to a survey on Friday that also showed factory employment declining. The Institute for Supply Management (ISM) said that its manufacturing PMI was unchanged at 46.7 last month. According to the ISM, a PMI reading below 48.7 over a period of time generally indicates a contraction of the overall economy. This measure has not been a reliable predictor of manufacturing payrolls in the government's closely watched employment report. Manufacturing payrolls are expected to have rebounded in November as about 33,000 striking United Auto Workers union members returned to work.

Persons: Kamil Krzaczynski, payrolls, Lucia Mutikani, Chizu Organizations: REUTERS, Rights, Institute for Supply Management, PMI, Reuters, United Auto Workers, Thomson Locations: Normal , Illinois, U.S

[1/3] Tesla's new Cybertruck is shown on display at a Tesla store in San Diego, California, U.S., November 20, 2023. Cybertruck, Tesla's first new model in nearly four years, is critical to its reputation as a maker of innovative vehicles. "We dug our own grave with Cybertruck," Musk said last month, warning that it would take a year to 18 months to make the vehicle a significant cash flow contributor. The billionaire has said Tesla was likely to reach a production rate of roughly 250,000 Cybertrucks a year in 2025. Tesla has faced "enormous challenges in reaching volume production" with the Cybertruck because of its new technology and design, Musk said.

Persons: Mike Blake, Elon Musk, Tesla's, Musk, Tesla, Eric Noble, Rivian, R1T, Rivian's R1T, Ford's, Seth Goldstein, Paul Waatti, Akash Sriram, Hyunjoo Jin, Sayantani Ghosh, Bill Berkrot Organizations: REUTERS, New York Times, Dodge, Ford, General Motors, Hummer, Morningstar, Thomson Locations: San Diego , California, U.S, Bengaluru, Hyunjoo, San Francisco

☆ UAW Launches Organizing Drive, Targets Tesla and Toyota
▼ + stars: | 2023-11-29 | by ( Nora Eckert | ) www.wsj.com time to read: 1 min

UAW union members were striking over job security and pay as automakers push forward in developing EV’s, which require fewer workers and cost more in raw materials. So what does it all mean for the future of auto workers and the union? Illustration: George Downs/The Wall Street JournalThe United Auto Workers formally launched one of the largest organizing drives in its history with campaigns at 13 automakers, in an effort to leverage record gains from its recent labor deals in Detroit. The UAW plans to target nearly 150,000 workers at U.S. factories owned by large foreign automakers including Toyota Motor and Volkswagen , as well as newer electric-vehicle manufacturers such as Tesla and Rivian Automotive, the union said Wednesday.

Persons: George Downs Organizations: Street, United Auto Workers, UAW, Toyota Motor, Volkswagen, Rivian Automotive Locations: Detroit

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