DIRS.INFO The most relevant business & tech news

☆ Morgan Stanley says memory stocks are set for 'new highs' and names its top picks
▼ + stars: | 2024-06-27 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Morgan Stanley analysts say they are expecting the computer memory sector to hit new highs over the rest of 2024, despite investors "generally" not being comfortable buying such stocks at such lofty prices. Aside from their attractive valuations, memory stocks are expected to see a lift in demand on the back of stronger usage of artificial intelligence-powered applications, infrastructure, tools and services, the analysts added. Top pick and overweight-rated stocks SK Hynix , the South Korean chipmaker, is Morgan Stanley's "top pick." Both stocks trade on the Korean Exchange and in the iShares MSCI South Korea ETF (SK Hynix has a 10.7% weight while Samsung Electronics has a 22.2% weight). Morgan Stanley is overweight on the stock and gives it a price target of $86, or nearly 12% upside.

Persons: Morgan Stanley, Shawn Kim, Morgan Stanley's, — CNBC's Michael Bloom Organizations: SK Hynix, Samsung Electronics, South Korean, SK Hynix —, Samsung, Korean Exchange, Western Locations: Korean, Korea

"The stock price has lagged but we don't see any other catalysts medium term, hence we are moving to the sidelines." Micron shares were down 5% in the premarket. The analyst reiterated a buy rating on Micron stock with a $175 per share price target, implying nearly 23% upside from Wednesday's $142.36 close. He raised his price target to $158 per share price from $138, calling for 11% upside. Arya maintained a buy rating on Micron stock with a $170 per share price target, or about 19% upside moving forward.

Persons: Vivek Juneja, — Brian Evans, TD Cowen, Cowen, John Blackledge, Keefe, David Konrad, Brian Evans, Christopher Danely, Goldman Sachs, Toshiya Hari, Hari, Vivek Arya, Arya, Caio Ribeiro, Ribeiro, Fred Imbert Organizations: CNBC, Micron Technology, Bank of America, Petrobras, JPMorgan downgrades U.S, Bancorp, JPMorgan, U.S . Bancorp, New York Mellon, Bank of New, Bank of New York Mellon, BK, Mellon, Micron, MU, Citi Locations: Brazil, U.S, Bank of New York, CY2025

☆ A veteran fund manager who's more than quadrupled the S&P 500's return in the last 32 years explains how he finds deeply undervalued stocks — and shares how he made one of his best trades ever
▼ + stars: | 2024-06-26 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

Stocks often trade above or below their fair value, which means active managers who choose stocks wisely can score huge eye-popping returns. "What we're really looking for is opportunities where that dollar can also compound to be two, four, 10," Robotti said. "People say, 'Oh, who cares if you buy a cheap stock, the market just won't ever pay attention. When the economics of a business — even if people hate that business — are extremely strong, the stock follows." "If you bought it at 20 cents on the dollar and it doubles, you don't sell it at 40 cents on the dollar," Robotti said.

Persons: —, Bob Robotti, Robotti, that's, couldn't, James Carville, people's, he's Organizations: Service, Cornell, P Global, Business, drillers, Tidewater, GulfMark, Swire Pacific Locations: Houston

☆ Rivian stock soars 37% after it strikes $5 billion deal with Volkswagen
▼ + stars: | 2024-06-26 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Rivian stock surged 37% after it secured a $5 billion deal with Volkswagen. The companies will form a joint-venture to develop next-gen vehicle software and electrical architecture. AdvertisementRivian stock soared 37% on Wednesday after it struck a $5 billion deal with Volkswagen. The two companies will form a joint-venture to collaborate on next-generation vehicle software and electrical architecture, which will be utilized in cars from both brands. As part of the deal, Volkswagen will invest an initial $1 billion in Rivian via a convertible note that will convert into Rivian stock later this year, assuming the companies receive regulatory approval for the deal.

Persons: —, RJ Scaringe, Dan Ives, Ives Organizations: Volkswagen, Service, JV, Volkswagen Group's, Rivian Locations: Rivian

☆ This 28-year-old fund consistently beats the S&P 500 — without megacap tech stocks. Here's its strategy
▼ + stars: | 2024-06-26 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

One fund has a formula that has enabled it to consistently beat the S & P 500 : the Hennessy Cornerstone Growth Fund. The fund uses a formula-based strategy for investing, according to its portfolio managers Neil Hennessy, Ryan Kelley, and Joshua Wein. "We're trying to combine value with momentum and some growth," Kelley said. Stocks the fund owns Most of the stocks in the outperforming fund aren't actually in tech but in the industrials, consumer, financials and health-care sectors — because of the formula they use. It is the only name which survived in the recent rebalancing to the current batch of 50 stocks, said Wein.

Persons: Neil Hennessy, Ryan Kelley, Joshua Wein, Kelley, Wein, They've, We're, aren't Organizations: Cornerstone Growth Fund, CNBC Pro, Micro Computer, Urban Outfitters Locations: United States

☆ The 'Dogs of the Dow' are doing well even as investors chase Nvidia higher
▼ + stars: | 2024-06-25 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

A cohort known as the "dogs" of the Dow Jones Industrial Average is a changing list of stocks with the highest dividend yield at the end of each year. For those who subscribed to the dogs theory, there's largely been upside — with 7 of the 9 stocks beating the Dow. These stats are current as of Monday afternoon: Verizon runs the dog house with the highest current dividend yield at 6.6%. The stock also has a current dividend yield of 3.4%. While Goldman Sachs has seen the best year-to-date performance, the bank has the lowest current dividend yield on the list at just 2.4%.

Persons: It's, Michael O'Higgins, Dow, — Goldman Sachs —, FactSet, Bank of America's Tal Liani, Goldman Sachs Organizations: Dow Jones, Nvidia, Dow, CNBC Pro, Verizon, Cisco, Bank of America's, Walgreens Locations: FactSet

Boeing would use stock instead of cash to buy Spirit AeroSystems, said the two people, who were not authorized to speak publicly about the deal. One added that Boeing would pay more than $4 billion for Spirit, which produces aviation parts, including the body of the Boeing 737 Max, the company’s most popular plane. One of the people familiar with the talks said that the decision to shift to stock from cash was not expected to significantly delay a deal, which could be announced as soon as next week. Based on its stock price on Tuesday, Spirit has a market value of more than $3.6 billion. News that Boeing was proposing to use its stock, rather than cash, to buy Spirit was reported earlier by The Wall Street Journal.

Organizations: Boeing, Max, Wall Street

NEW YORK, June 25 (Reuters) - Shares of Nvidia (NVDA.O) New Tab , opens new tab surged nearly 7% on Tuesday, snapping out of a three-session tailspin that had erased about $430 billion from the artificial intelligence chipmaker's market value. Nvidia's shares finished at $126.09, after a tumble that saw them lose around 13% from their June 18 close of $135.58. The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. Bullishness on Nvidia was evident in the options market, though the stock's recent share price slide appears to have made traders more cautious. New Tab , opens new tabSave Share XFacebookLinkedinEmailLink Purchase Licensing Rights

Persons: Tom Hayes, it's, Hayes, Tyrone Siu, Tom Plumb, Plumb, you've, Mario Iachini, Chibuike Oguh, Saqib Iqbal Ahmed, Suzanne McGee, Medha Singh, Lewis Krauskopf, Ira Iosebashvili, Chris Reese, Aurora Ellis, David Gregorio Our Organizations: YORK, Nvidia, Great, Nvidia Corporation, REUTERS, Plumb Funds, Ortex Technologies, Vanda Research, Thomson Locations: New York, Taipei, Taiwan

☆ Trump Media is being 'absurdly' valued by investors, LinkedIn cofounder says
▼ + stars: | 2024-06-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

The billionaire entrepreneur noted that Turth Social is tiny compared to other social media. AdvertisementTrump Media's stock price is "absurdly out of the realm of normal business," according to LinkedIn co-founder Reid Hoffman. Trump Media is worth just a fraction of LinkedIn, which was bought out for $26 billion in 2016. For reference, TMTG made just $4.1 million last year and lost $58 million, according to its financial statements. "Trump Media is probably more appropriately valued close to $40 million rather than several billion."

Persons: Reid Hoffman, TMTG, —, Hoffman, Donald Trump's Organizations: Trump, Service, LinkedIn, CNN, Trump Media Locations: SPAC

☆ Are you better off than you were four years ago? It can be a murky picture for many
▼ + stars: | 2024-06-25 | by ( Shannon Pettypiece | ) www.cnbc.com time to read: +9 min

But retirees and full-time caregivers have been unable to take advantage of a strong job market. Now, consumers are largely left with the same buying power they had four years ago rather than having seen real income gains over that time that would have helped bolster their financial picture. The outlook for the job market also varies by race with the unemployment rate at 5.6% for Black workers and 5% for Hispanic workers. Food prices have risen around 25% over the past four years while Biden was in office. The rise in food prices has disproportionately impacted lower-income households, which spend around a third of their discretionary income on food, according to a 2022 Agriculture Department survey.

Persons: Joseph Prezioso, Joe Biden, Donald Trump, Ronald Reagan, Julia Pollak, Pollak, Joseph Davis, Biden, MAGA, Julian Assange, Trump, Davis Organizations: Gloucester High School, AFP, Getty, Homeowners, ZipRecruiter, NBC, Consumer, Vanguard, NBC News, Food, Bureau of Labor statistics, Agriculture, Federal Reserve, Walmart, Aldi, Target, Gas Locations: Gloucester , Massachusetts, U.S, Arizona, Nebraska , Colorado

☆ Tesla recalls Cybertruck to fix faulty windshield wipers, loose trim
▼ + stars: | 2024-06-25 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

One is to fix problems with trim pieces, which can loosen and fall off the trunk, and the other is to address faulty motor controllers in the front windshield wipers. The report said a "non-functioning windshield wiper may reduce visibility in certain operating conditions, which may increase the risk of a collision." Tesla plans to replace the motor controller in the Cybertruck windshield wipers for customers. An earlier Cybertruck recall was issued to repair an accelerator pedal issue. The recall disclosures for the windshield wiper issue said that from Nov. 13, 2023, to Jun.

Persons: Tesla, —, didn't, Elon Musk, Musk, Tesla's, It's Organizations: National, Traffic Safety Administration, Ford, Tesla Locations: U.S, Austin , Texas, China

☆ Trump Media shares rise on heavy volume, as DJT rallies after major sell off
▼ + stars: | 2024-06-25 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

Shares of Trump Media shot up as much as 11% as markets opened Tuesday, clawing back more of the Truth Social maker's losses that followed former President Donald Trump's criminal conviction in New York. The upward swing movement shows the makings of a third straight day of gains for Trump Media, which trades as DJT on the Nasdaq. The stock soared 21% on Monday, boosting by hundreds of millions of dollars the company's market capitalization — and the on-paper net worth of Trump, who owns nearly a 65% stake in Trump Media. The presumptive Republican presidential nominee cannot sell any of his shares until late September, when a post-merger lock-up period expires. The stock price declined 46% between that May 30 verdict and the end of last week.

Persons: clawing, Donald Trump's, Trump Organizations: Trump Media, Nasdaq Locations: New York, Manhattan

☆ Amazon is working on an AI assistant that competes with ChatGPT, codenamed 'Metis'
▼ + stars: | 2024-06-24 | by ( Eugene Kim | ) www.businessinsider.com time to read: +6 min

Read previewAmazon is working on an AI chatbot that competes directly with the OpenAI's ChatGPT, Business Insider has learned. The secret internal project is codenamed "Metis," likely in reference to the Greek goddess of wisdom. Metis is powered by an internal Amazon AI model called Olympus, another name inspired by Greek mythology. There are a lot of AI assistantsWith Metis, Amazon is joining an already crowded AI assistant market. Last month, Amazon even instructed some employees to help scrape GitHub's open-source data to speed up its AI model training process.

Persons: —, It's, OpenAI, Andy Jassy, Jassy, Amazon's, Rohit Prasad, Vishal Sharma, it's Organizations: Service, BI, Business, Metis, Microsoft, Google, Amazon, Project Metis, Alexa Locations: Amazon's

☆ Trump Media stock jumps 20%, breaking weekslong decline in DJT share price
▼ + stars: | 2024-06-24 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Shares of Trump Media soared more than 20% on Monday morning, as the firm majority-owned by former President Donald Trump sought to bounce back from a weekslong plunge that cut the stock price nearly in half. Trump Media, which trades as DJT on the Nasdaq, was trading around $33 a share on much higher than average volume as of 10:50 a.m. Shares of Trump Media sunk even lower last week, after its registration of additional shares was declared effective by the Securities and Exchange Commission. Trump posts almost exclusively on Truth Social, the microblogging social media platform that is Trump Media's sole product to date. But Trump in early June joined the social media behemoth TikTok, whose traffic dwarfs that of Truth Social.

Persons: Donald Trump, Trump, TikTok Organizations: Trump Media, Nasdaq, Truth, Securities and Exchange Commission, Trump Locations: Warsaw, Poland, York

☆ Target taps Shopify to add sellers to its third-party marketplace
▼ + stars: | 2024-06-24 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

Starting Monday, the Minneapolis-based discounter said companies that work with Shopify can apply to join Target Plus, its third-party marketplace. Target's marketplace creates a "halo" and is "an accelerant to the total business," she said. Target Plus has only a tiny fraction of the revenue and sellers of other third-party marketplaces. Sylvester would not say how much of that came from ads bought by Target Plus sellers. Target does not offer fulfillment services, instead relying on Target Plus sellers to store, pack and ship their own goods.

Persons: discounter, Cara Sylvester, Shopify, Sylvester, Target, Ban, Sellers, Doug McMillon Organizations: Target, CNBC, Walmart, Amazon, eBay, Marketplace, Brands Locations: Minneapolis, Walmart's U.S

☆ 'Materially undervalued': This global retailer's stock could rise 115%, analyst says
▼ + stars: | 2024-06-24 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

The bank's analyst labeled the London-listed stock as "materially undervalued" as the company announced the resumption of dividends earlier this month after a five-year hiatus. Investec raised its price target to £2 ($2.53) a share, which points to a 116% upside potential. However, earlier this month, Card Factory said its 2024 fiscal year showed improved profitability, with the company expecting normal growth rates to return. UBS predicts Card Factory will earn £65 million in the next financial year, with sales running up to about £535 million. The investment bank raised its price target to £1.16 a share, indicating a 26% upside potential, but also maintained its "neutral" rating.

Persons: Kate Calvert, Investec, Saranja Sivachelvam, Sivachelvam Organizations: Factory, Card Factory, Investment, UBS, Card Locations: London, U.S, England, Calvert

☆ Amazon is secretly working on a ChatGPT killer
▼ + stars: | 2024-06-24 | by ( Eugene Kim | ) www.businessinsider.com time to read: +6 min

Read previewAmazon is working on an AI chatbot to compete directly with OpenAI's ChatGPT, Business Insider has learned. The secret internal project is code-named "Metis," likely in reference to the Greek goddess of wisdom. Metis is powered by an internal Amazon AI model called Olympus, another name inspired by Greek mythology. There are a lot of AI assistantsWith Metis, Amazon is joining an already crowded AI-assistant market. Vishal Sharma, the vice president of artificial general intelligence, has direct oversight of Project Metis, one of the people said.

Persons: —, OpenAI's, It's, OpenAI, Andy Jassy, Jassy, Amazon's, Rohit Prasad, Vishal Sharma, it's Organizations: Service, BI, Business, Metis, Microsoft, Google, Amazon, Project Metis, Alexa Locations: Metis, Amazon's

☆ UBS says AI may be one of the 'largest investment opportunities in human history.' Here's the bank's 4-step approach for investing in the technology.
▼ + stars: | 2024-06-22 | by ( Christine Ji | ) www.businessinsider.com time to read: +4 min

Big Tech companies are pouring billions of dollars into building data centers to train it. The AI Value ChainAccording to UBS, investors should approach the overall AI industry as three interconnected layers: enabling, intelligence, and application. By understanding the major players in the AI space and investing in the most critical parts of the AI value chain, according to UBS. The bank predicts that the AI landscape will be marked by "vertically integrated" and "monolithic" firms with the scale to reach across the AI value chain. However, its stock hasn't seen the price appreciation that domestic tech companies have, suggesting that there's ample room for valuations to expand.

Persons: Ulrike Hoffmann, UBS's Organizations: Service, Apple, Big Tech, UBS, Business, Nvidia, Dell, Broadcom Locations: China

☆ Here's our first-quarter earnings report card for 32 stocks in the portfolio
▼ + stars: | 2024-06-21 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

Most of the earnings reports — 25 out of 32 portfolio names — were ranked as good or great by the Investing Club. Similar to prior quarters, we grouped company results into one of four categories. Meta Platforms : Sales, earnings and cash flow results all topped expectations . However, sales and earnings both outpaced expectations, as did return on tangible common equity, a key consideration when valuing banks. The company also raised its outlook for full-year earnings growth to 25% year-over-year from 20%.

Persons: we're, Dover, Eli Lilly, Blackwell, Abbott, —, Wall, We'll, Morgan Stanley, Nikesh, Stanley Black, Wells, Estee Lauder, Fabrizio Freda, Jim Cramer's, Jim Cramer, Jim, Hock Tan, Broadcom Lucas Jackson Organizations: Investing, Apple, Services, Broadcom, VMware, Coterra, DuPont, Microsoft, Nvidia, Wynn Resorts, Super, Abbott Labs, Web Services, Constellation Brands, Constellation, Ford, Ford Pro, Wall Street, Alto Networks, Procter & Gamble, TJX, GE Healthcare, Honeywell, Linde, Jim Cramer's Charitable, CNBC Locations: Dover, China, Eaton, Las Vegas, China's Macao, billings, Wells Fargo, —

☆ Trump Media Stock Down 50% Since Former President’s Conviction
▼ + stars: | 2024-06-21 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

On Friday, the value of his 115 million shares of Trump Media had dropped to less than $3 billion. By any measure, Mr. Trump’s stake is still worth a tremendous amount of money. But the social media company’s shares have been extremely volatile, as highlighted by the steep decline this month. Trump Media’s stock price traded as high as $66 after its merger with a public shell company in late March, and as low as $23 a few weeks later. The stock traded just above $25 on Friday, down 5 percent on the day.

Persons: Donald J, Trump’s Organizations: Trump Media & Technology Group, Truth, Trump Media, Trump Locations: New York

☆ Trump Media free fall continues, as DJT stock slides 6%
▼ + stars: | 2024-06-21 | by ( Kevin Breuninger | ) www.cnbc.com time to read: 1 min

In this article DJT Follow your favorite stocks CREATE FREE ACCOUNTPavlo Gonchar | Lightrocket | Getty ImagesStock Chart Icon Stock chart icon Trump Media & Technology Group Corp. Stock PriceTrump Media's stock price has whipsawed since its public debut as retail investors and short sellers bought and sold the company tied to the controversial presumptive Republican presidential nominee. But the trend over the last three weeks has been consistently negative: The stock has now lost more than half its value since May 30, when a New York jury convicted Trump on 34 felony counts of falsifying business records.

Persons: Pavlo Gonchar, Stock Price, Trump Organizations: Lightrocket, Getty, Trump Media & Technology Group Corp, Stock, Stock Price Trump, New Locations: New York

☆ Software stocks are slumping. The reasons behind the downturn and the 4 best investments to make now, according to UBS and C-suite executives.
▼ + stars: | 2024-06-20 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

Enterprise software customers are seeing their profits shrink from high interest rates and weakening consumer spending, which is reflected in cost-cutting initiatives such as shrinking software budgets. The best software stocks to buy in today's environmentAccording to UBS, the current software industry offers investment opportunities for cybersecurity and cloud infrastructure stocks. Cybersecurity is a promising growth area, with potential for rapidly increasing demand, UBS said. Demand for cloud infrastructure — the combination of hardware and software needed for cloud computing — is also increasing. Microsoft (MSFT) and Oracle (ORCL) are two cloud infrastructure providers whose respective products, Azure and Oracle Cloud Infrastructure, have performed well in 2024, in contrast to the lackluster returns of other software companies.

Persons: —, Salesforce, hasn't, Marc Benioff Organizations: Service, Business, UBS, Enterprise, Microsoft, Oracle, Oracle Cloud Infrastructure

☆ How to keep participating in a stock's rally if you're getting concerned about valuation
▼ + stars: | 2024-06-20 | by ( Michael Khouw | ) www.cnbc.com time to read: +4 min

ARM Holdings (ARM) offers several technologies instrumental in AI applications, notably its advanced processor designs and intellectual property. Operationally ARM Holdings is very well positioned. In this case, ARM Holdings is currently valued at about $174 billion, more than 56 times trailing 12 months revenues, and recent price action in particular looks extended. This would provide about $27 worth of upside from here, while providing $40 worth of downside insurance in the event that ARM Holdings pulls back. For example the $140/$175/$200 call spread risk reversal here incurs the risk of owning the stock at $140/share.

Persons: isn't Organizations: ARM Holdings, ARM

☆ An options bet that wins if this payments stock has finally bottomed
▼ + stars: | 2024-06-20 | by ( Tony Zhang | ) www.cnbc.com time to read: +2 min

After peaking back in July of 2021, the stock has declined nearly 80% and has spent the last 12 months forming a bottoming formation and has stabilized its decline. The question is, when is the stock potentially ready to breakout higher? Now if we examine the fundamentals, the business has started to look more compelling over the past couple of quarters. The trade Based on the implied volatility, options are not particularly cheap or expensive, but the skew benefits selling a put credit spread. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: PYPL Organizations: PayPal Locations: PYPL

☆ Trump Media shares plunge 17% with newly available DJT shares set to dilute stock value
▼ + stars: | 2024-06-18 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

The stock price of Trump Media plunged by more than 17% in after-hours trading Tuesday after the Truth Social app owner said its registration of additional shares had been declared effective by the Securities and Exchange Commission. Trump Media, which trades under the DJT ticker, had seen its share price slump by nearly 10% during the regular trading day. The SEC's declaration authorizes early investors in Trump Media to exercise public warrants they hold in the company, whose majority shareholder is former President Donald Trump. Trump Media said up to 14,375,000 additional shares would be issuable upon the exercise of those warrants. These funds would supplement the more than $200 million in unrestricted cash the Company now retains."

Persons: Donald Trump Organizations: Trump Media, Securities and Exchange Commission, SEC

Search resuls for: "Stock Price"

25 mentions found