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However, the company also said it sees single-digit revenue growth for fiscal 2025. UBS reiterated a neutral rating alongside its $310 per share price target on Salesforce, or more than 3% upside ahead. Product revenue growth of 33% year over year in the fourth-quarter was also below Wall Street estimates. Murphy noted there's a disconnect between what Barrick has accomplished in the past five years and its stock price. "We see asset disposals and cost improvements as likely to reverse share price weakness as the market recognizes the strength of the asset portfolio."

Persons: Morgan Stanley, Snowflake, Jefferies, TD Cowen downgrades Macy's TD Cowen, Oliver Chen, Macy's, — Brian Evans, Brad Sills, Brian Evans, AutoNation Morgan Stanley, AutoNation, Morgan Stanley's, Mike Manley, Adam Jonas, Salesforce, Amy Weaver, Goldman Sachs, Kash Rangan, Bank of America's Brad Sills, Morgan Stanley downgrades Snowflake, Snowflake's, Frank Slootman, Keith Weiss, Matthew Murphy, Murphy, Fred Imbert Organizations: CNBC, Barrick, Mining, Bank of America, of America, TAM, Bank of America's, UBS, StreetAccount, Jefferies, Barrick Gold, Newmont, Newcrest Locations: Africa, East

☆ Chefs hate tipping, but they don't know how to make it go away
▼ + stars: | 2024-02-28 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +4 min

Read previewIt turns out chefs dislike tipping as much as you do. AdvertisementChefs don't like tipping as a practiceOverall, the chefs seemed frustrated with tipping as they spoke to Moskin, particularly since diners often resent the practice that is unique to American restaurants. AdvertisementThe chefs don't love tipping. Tipping culture as a whole has been under scrutinyThe restaurant industry isn't alone in reaching a reckoning with tipping. The practice of tipping is clearly at an impasse in the US, but it's unclear how Americans will adapt.

Persons: —, Julia Moskin, David Chang, Eric Huang, Moskin, Huang, Grace Cary, Geoff Davis, Davis, Michael Rafidi, Hajime Sato, Rafidi, Tandy Wilson, Corey Mintz Organizations: Service, The New York Times, Business, City House Locations: America, New York, Burdell, Oakland , California, Albi, DC, Sozai, Clawson , Michigan, Nashville

☆ One-quarter of America's ultra-rich plan to buy a home this year: Douglas Elliman report
▼ + stars: | 2024-02-28 | 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 EmailOne-quarter of America's ultra-rich plan to buy a home this year: Douglas Elliman reportDouglas Elliman CEO Scot Durkin and CNBC's Robert Frank join 'The Exchange' to discuss trends in luxury real estate, how the luxury market changed since the Covid-19 pandemic and more.

Persons: Douglas, Scot Durkin, Robert Frank

☆ Google's mission is organizing the world's information. Its 'woke' AI debacle prompted critics to say it's failing.
▼ + stars: | 2024-02-27 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Read previewSince its inception, Google has had a mission statement that is now practically enshrined as lore: "To organize the world's information and make it accessible and useful." Its AI, critics say, risks suppressing information instead by being too "woke." AdvertisementGoogle's AI troublesGoogle has more than 90% of the search market, giving it dominant control over the world's information flow online. Advertisement"The original mission was to index all the world's information. In a blog published Friday, Google vice-president Prabhakar Raghavan acknowledged some of the images Gemini generated turned out to be "inaccurate or even offensive."

Persons: —, Larry Page, Sergey Brin, Gemini, Peter Kafka, Adolf Hitler, Elon, David Sacks, Critics, Sam Altman, Andrew Caballero, Reynolds, Bilal Zuberi, Brad Gerstner, Microsoft —, Elon Musk, OB1CCZHan3, Prabhakar Raghavan, overcorrected, Raghavan Organizations: Service, Google, Business, Craft Ventures, Lux Capital, Microsoft, Elon Locations: Menlo Park, AFP

☆ Wall Street thinks this revolutionary gut health stock can triple in value
▼ + stars: | 2024-02-27 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Just weeks after its initial public offering, Fractyl Health is catching Wall Street's attention as the next potential biopharmaceutical darling. Analysts are highlighting the company's groundbreaking therapies that directly target the gut and pancreas to ultimately induce Type 2 diabetes maintenance and weight loss. "Growing evidence indicates the gut is a core regulator of metabolism, placing gut dysfunction as a root cause of metabolic disease. Indeed, emerging consensus links modern diets to changes in the gut and pancreas that in turn increase an individual's risk of developing Type 2 Diabetes and obesity," Ulz wrote. gut) root cause of disease, could result in a more durable, disease-modifying treatment, differentiated from current, more burdensome (i.e.

Persons: Morgan Stanley, Jason Gerberry, Michael Ulz's, Ulz, Gerberry, Rejuva, America's Gerberry Organizations: Bank of America, Evercore ISI, Fractyl's, Bank, America's Locations: Fractyl

☆ Bank of America thinks these stocks are prime candidates to join the S&P 500, and could outperform
▼ + stars: | 2024-02-23 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Woodard noted that changes to the S & P 500 typically occur following a period of strong growth. The S & P 500 has gained more than 24% in the past year and has climbed more than 4% from the start of 2024. There are two main criteria for adding a stock to the S & P 500, the strategist said. Here's a look at some of the stocks Bank of America thinks are in contention for entry to the S & P 500. Bank of America analyst Craig Siegenthaler thinks the stock could be added to the S & P 500 as soon as mid-March following the index's planned rebalance.

Persons: they've, Jared Woodard, Stocks, Woodard, FactSet, Palantir, Craig Siegenthaler Organizations: Bank of America, Bank of, Walgreens Boots Alliance, Dow Jones Industrial, Amazon, Palantir Technologies, KKR

☆ Buy these small-cap stocks with strong fundamentals, Bank of America says
▼ + stars: | 2024-02-23 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

It has been a tough year thus far for small-cap stocks, but Bank of America has some fresh ideas for finding value in the space. Despite a bounce this month, the Russell 2000 index of small-cap stocks has slipped a fraction this year while the large-cap S & P 500 has climbed almost 7%. Against that underperformance, Bank of America strategist Jill Carey Hall recently screened for small-cap value names with strong fundamentals. She scanned the Russell 2000 for profitable stocks that are in the top 20th percentile on one or more valuation metrics, including price-to-book, price-to-earnings and enterprise value-to-sales ratios. The stock placed within the top 20% of the Russell 2000 when looking at the enterprise value to sales ratio.

Persons: Russell, Jill Carey, Wall, FactSet, Ryan Sigda, Craig, Hallum, Visteon Organizations: Bank of America, of, TAM, Outfitters, Urban Outfitters, Urban, Automotive, Wall Locations: Michigan

☆ About half of America's new college graduates are working in high school-level jobs like food service and retail: report
▼ + stars: | 2024-02-23 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

People working college-level jobs earn 88% more than those with only a high school education, the report said. AdvertisementMost underemployed graduates are in sales and office administrationFor graduates working high school-level jobs five years after finishing college, the most common occupations are clerk (1.09 million graduates), sales supervisor (1 million), retail sales worker (759,000), salesperson (611,000), and secretary (602,000). Health-related work, including nursing, had the lowest underemployment rate, with only 23% of graduates not working college-level jobs five years after finishing their bachelor's. About 27% of underemployed graduates eventually advance to college-level jobs in the next 10 years. Getting an internship in your field of study vastly improves your chances of getting a college-level job, the report said.

Persons: —, they're Organizations: Service, —, Glass Institute, Strada Education, Business Locations: underemployment

☆ Servers will need to be accelerated and Nvidia stands to benefit: Bank of America's Vivek Arya
▼ + stars: | 2024-02-22 | 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 EmailServers will need to be accelerated and Nvidia stands to benefit: Bank of America's Vivek AryaVivek Arya, Bank of America Securities senior semiconductor analyst, joins 'Power Lunch' to discuss if anything in Nvidia's earnings results gave the analyst a pause, if there are any competitive risks for Nvidia, and more.

Persons: America's Vivek Arya Vivek Arya Organizations: Nvidia, Bank, America's, Bank of America Securities

☆ A fund manager beating 98% of his peers over the last 10 years breaks down why the stock market resembles the 'Nifty 50' bubble of the 1970s, when the market's biggest names got crushed as inflation s
▼ + stars: | 2024-02-22 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Disco is backOthers have also started to compare today's market and the 1970s' "Nifty Fifty." AdvertisementJPMorgan's Chief Global Strategist Marko Kolanovic also said in a note on Wednesday that fiscal spending and inflation could resemble the 1970s landscape. Similar to the 1970s, there are currently 3 active geopolitical conflict zones – eastern Europe, Middle East, and South China Sea," Kolanovic said. Kolanovic included in his note the chart below, which shows the correlation between inflation and the performance of the S&P 500.

Persons: —, Albert Edwards, Bank of America's Michael Hartnett, Jeffrey Gundlach, Cole Smead, Smead, Sears Roebuck, Alphabet's, Nvidia's, Microsoft's, Jeremy Siegel, David Rosenberg, Merrill Lynch, " Rosenberg, Marko Kolanovic, Kolanovic Organizations: Service, Societe Generale, Bank of America's, Treasury, Nasdaq, DoubleLine, Investments, Business, Morningstar, Microsoft, Nvidia, Xerox Locations: Europe, Middle East, South China

☆ Chip analysts boost Nvidia price targets in race to catch up to chipmaker's relentless 'joyride'
▼ + stars: | 2024-02-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

That led several Wall Street banks to hike their price targets to account for the unrelenting demand. Bernstein and other Wall Street shops raced to catch up with Nvidia's share price, hiking their price targets in reaction to nonstop demand and the company's enormous total addressable market. Rasgon's new target was the equivalent of 48% upside from Wednesday's close, while the average price target according to FactSet implied more than 22% upside. Bank of America's Vivek Arya also lifted his Nvidia price target to $925 per share, equal to about 37% upside. JPMorgan analyst Harlan Sur boosted his price target to $850 to reflect strong data center growth and future product launches.

Persons: Bernstein's Stacy Rasgon, Bernstein, America's Vivek Arya, Harlan Sur, allaying, Sur, Goldman Sachs, Toshiya Hari, Morgan Stanley's Joseph Moore, Moore, Deutsche Bank's Ross Seymore, Seymore, Timothy Arcuri, Arcuri, — CNBC's Michael Bloom Organizations: Nvidia, Bank, America's, JPMorgan, Deutsche, UBS Locations: CY24

☆ How Spanx founder Sara Blakely makes and spends her $1.1 billion fortune
▼ + stars: | 2024-02-22 | by ( Talia Lakritz | ) www.businessinsider.com time to read: 1 min

Sara Blakely's shapewear brand, Spanx, made her one of the world's youngest self-made female billionaires. Sara Blakely attends the launch of Haute Contour by Spanx at Saks Fifth Avenue in 2009. Two years later, her body-shaping invention went into production and was named one of "Oprah's Favorite Things," making it a favorite of celebrities and everyday customers alike. In 2012, Blakely appeared on the cover of Forbes as the world's then-youngest self-made female billionaire at age 41. Today, at 52 years old, she ranks 22nd on Forbes' list of America's self-made women with a net worth of $1.1 billion.

Persons: Sara Blakely's shapewear, Sara Blakely, Joe Kohen, Blakely Organizations: Spanx, Saks Fifth, Forbes

☆ Investors should take a look at these high-yield bond ETFs with tax advantages, Bank of America says
▼ + stars: | 2024-02-20 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

"Investors have registered $195mn of outflows from HY muni ETFs over the past year while piling $3,130mn into long duration US Treasury bond funds. … In our view, Treasury bond ETFs have too much inflation risk and will continue to underperform Prudent Yield credit assets. Municipal bonds are debt issued by state and local governments whose interest payments can be tax-free for investors. But municipal bonds look relatively safe within that group, according to Bank of America. Bank of America's top-rated municipal bond ETFs include the SPDR Nuveen Bloomberg High Yield Municipal Bond ETF (HYMB) and the VanEck High Yield Muni ETF (HYD) .

Persons: Jared Woodard, Woodard, munis, HYMB Organizations: Bank of America, HY muni, …, Federal Reserve, Bank of America's, Bloomberg, ETF, Muni Locations: HY

☆ Warren Buffett's Berkshire keeps new stock pick secret — again. Here's what it means
▼ + stars: | 2024-02-18 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

A new stock pick from the 93-year-old Buffett almost always leads some investors to follow suit, quickly moving the share price. Berkshire has been a longtime shareholder in credit rating agency Moody's , and bought a big stake in Citigroup in early 2022. The last financial stock Berkshire bought was Capital One Financial in the first quarter of 2023. If the new stake ever exceeds 5% of whatever stock it is, Berkshire would be required to report its holding with the SEC. Buffett might be asked to reveal the identity of the mystery stock at Berkshire's annual shareholder meeting in early May.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, Todd Combs, Ted Weschler, Berkshire's, Goldman Sachs, David Kass, University of Maryland's Robert H, Jamie Dimon, Kass, there's Organizations: Berkshire, The Securities, Exchange, Chevron, Verizon, Apple, Buffett, Bank of America, American Express, Citigroup, Mastercard, Visa, JPMorgan, U.S . Bancorp, Bank of New York Mellon, University of Maryland's, Smith School of Business, outperforming Bank, SEC Locations: Omaha, Berkshire, McLean, Va, Wells, outperforming

☆ The S&P 500 could rise as high as 5600, and these 8 ETFs are poised for big upside along the way: Bank of America
▼ + stars: | 2024-02-18 | by ( Mark Reeth | ) www.businessinsider.com time to read: +1 min

The S&P 500 has fallen below 5000, but that's to be expected if history is any indication. Bank of America's Steven Suttmeier says the index is on its way to new highs of up to 5600. Along the way, his charts say 8 ETFs are preparing for bullish moves upward as well. The S&P 500 recently became the S&P 5000, hitting a new all-time high only a few short weeks into the new year as the market's rally continued. The latest consumer-price inflation data put a damper on things, however, and the index returned below record levels.

Persons: of America's Steven Suttmeier, SPX, Steven Suttmeier Organizations: of America's, Bank of America, Business

☆ Cocoa prices just hit a record high. Here's what's driving the gains and what it means for chocolate makers
▼ + stars: | 2024-02-17 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +7 min

If you think chocolate prices this Valentine's Day were more expensive than usual, it's not you. Year to date, futures contracts are up nearly 27%, with cocoa prices rising in six of the past seven weeks. Here's a breakdown of what's driving cocoa prices higher and how it impacts the investment case around two major chocolate stocks. Doshi thinks cocoa prices could sell off about 20%, taking them to around $4,500 to $4,800 per ton. In an interview with CNBC last week, he underscored the rising cocoa price outlook as the key driver for his lower rating.

Persons: Humza Hussain, El, Aakash Doshi, Doshi, Bernstein, Bruno Monteyne, … There's, Mondelez, Alexia Howard, Hershey, Michele Buck, Bernstein's Howard, Howard, I'd, Bryan Spillane, Morgan Stanley, Pamela Kaufman, Bank of America's Spillane Organizations: Asset Management, CNBC, Hershey, Citi, 2H, Street, Bank of America, Bank of, Cadbury Locations: Mondelez, El Niño, Ghana, Ivory, Nigeria, Europe

☆ Wall Street just can't get enough of Nvidia
▼ + stars: | 2024-02-16 | by ( George Glover | Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Wall Street's excitement about Nvidia has reached a fever pitch as its valuation soars. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementExcitement on Wall Street about Nvidia is reaching a fever pitch after the chipmaker’s market value surpassed both Amazon and Google owner Alphabet this week. Nvidia is set to report its earnings for the final three months of 2023 on Wednesday. “If AI is the next industrial revolution, then absolutely we could see Nvidia’s valuation surge continuing,” Katherine Brooks of online broker XTB, told Business Insider.

Persons: Ray Dalio, Paul Tudor Jones, David Tepper, —, Ray Dalio’s, Kenneth Fisher’s Fisher, Jim Chanos, Steve Cohen’s Point72, It’s, Jensen, ” Katherine Brooks, XTB Organizations: Nvidia, Carolina Panthers, Service, Google, Traders, Reuters, Ray Dalio’s Bridgewater Associates, Kenneth Fisher’s Fisher Investments, Paul Tudor Jones ’ Investment Corp, Big Tech

☆ Move over Nvidia. There's a new hot AI play that has soared 960% in the past year
▼ + stars: | 2024-02-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

One high-flying artificial intelligence stock has soared 960% over the past year and may soon become as familiar Nvidia, the dominant, better-known and far larger maker of AI processors. Recent stock performance notwithstanding, Nvidia, the leading provider of high-end graphics processing units (GPUs) with 80% of the global market, dwarfs Super Micro. SMCI 1Y mountain Super Micro Computer shares over the last year Super Micro popped 13% during Thursday's session, approaching $1,000 per share. Super Micro's already attracted the attention of the investing community, nearly doubling since reporting strong earnings at the end of January. Bhattacharya added that Super Micro's ability to build "server technology from the ground up" gives it a strategic boost.

Persons: Ruplu Bhattacharya, Bhattacharya, referrring, Michael Bloom Organizations: Nvidia, Bank of America, San, Calif, Computer, Devices, Intel, Bank Locations: San Jose

☆ ASML and more: BofA just got more bullish on these 3 chip stocks, says AI spending is heating up
▼ + stars: | 2024-02-15 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

European semiconductor equipment stocks are likely to outperform as spending on artificial intelligence chips rises over the next decade, according to Bank of America. The continent's chip stocks produce the high-tech machines needed to manufacture the latest generation of chips. ASML ASML , the dominant supplier of lithography equipment used to manufacture advanced logic and memory chips, remains Bank of America's "top pick in EU Semicaps." The bank forecasts strong demand from leading chipmakers using ASML 's extreme ultraviolet lithography machines required to produce next-generation AI accelerators and high bandwidth memory modules. The investment bank said ASM 's exposure to new transistor architectures called "gate-all-around" appears to be critical for improving AI chip performance.

Persons: Didier Scemama Organizations: Bank of America, AMD, Nvidia, EU, America's, Analysts, ASM International Bank of America, ASM International, ASM, BE Semiconductor Industries, HB, Intel, Micron Locations: Europe

☆ Tax refund season could boost these stocks favored by small investors
▼ + stars: | 2024-02-15 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

The Bank of America traders put together a basket of stocks that proxy the most retail participation. Which stocks do small traders love Take a look at some of the stocks in Bank of America's list of retail investor-favorite proxies. Nvidia shares have rallied nearly 19% this month ahead of its earnings release Feb. 21. NVDA 1Y mountain Nvidia shares over the last 12 months AMD shares have also doubled over the last 12 months. However, this year has been a different story for the stock; shares took a large hit after the company's first-quarter forecast fell short of investors' expectations.

Persons: Tesla, Max, — CNBC's Michael Bloom Organizations: Bank of America, Bank of, Dow Jones, AMD, Nvidia, of, Wall, Boeing, Alaska Airlines Locations: Bank

☆ The rich want to give their kids real estate and businesses to save on taxes but still control the family fortune. One neat trick: family-limited partnerships.
▼ + stars: | 2024-02-14 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +8 min

And yet, Walton's wife and children didn't have to pay a dime in estate tax. With an FLP, an individual — often a parent or two parents — pools their business assets, which are commonly real estate or stock. There are pragmatic reasons for keeping family business assets consolidated, according to Dan Griffith of Huntington Private Bank. Another sweetener: you can claim a discount on the assets within the FLP and use even less of your estate tax exemption. This would eliminate all gift and estate tax on the business even if the couple dies after the Trump tax cuts sunset.

Persons: —, Sam Walton, didn't, Donald Trump, Dan Griffith, –, Griffith, Robert Strauss, Weinstock Manion, Strauss, Edward Renn, Renn, Trump, that's, Katie Carlson Organizations: Service, Walmart, Business, Huntington Private Bank, IRS, Partners, Bank of, Trump

The firm downgraded the cosmetics stock to hold from buy but maintained $530 per share price target. The firm maintained a neutral rating alongside a $13 per share price target, implying nearly 10% upside ahead. The firm is standing by an underperform rating on Robinhood stock with a $12 per share price target. HSBC downgraded the software stock to hold but maintained its $22 per share price target. First Solar shares have lagged in 2024, losing 11.6% amid concern that Federal Reserve rate cuts may not arrive until later than anticipated.

Persons: Ulta, Anthony Chukumba, Chukumba, Brian Evans, Christopher Danely, — Brian Evans, Robinhood's, Robinhood, LSEG, JPMorgan's Kenneth Worthington, Goldman Sachs, Will Nance, America's Craig Siegenthaler, Wells, Biogen, Mohit Bansal, Stephen Bersey, Christopher Dendrinos, Dendrinos, Fred Imbert Organizations: CNBC, U.S, Wednesday, RBC, HSBC, Palantir, Citi, Revenue, Bank, America's, Technologies, RBC Capital Markets, Enphase Energy, Shoals Technologies Locations: 2024e, Tuesday's, U.S

DOHA, Qatar (AP) — With some of America's biggest stars deciding to stay home, Claire Curzan and Hunter Armstrong claimed the spotlight at the World Aquatics Championships on Tuesday. Curzan won gold in the women's 100-meter backstroke at the Aspire Dome, while Armstrong followed just a few minutes later with a victory in the men's 100 back. The 19-year-old Curzan, who competes at the University of Virginia, claimed the first individual world title of her burgeoning career. After settling for bronze in the 100 back at the last two world championships, the Ohio native now has a gold. Hobson, part of a scaled-back team for these world championships, gave himself a big boost with the Paris Olympics just five months away.

Persons: Claire Curzan, Hunter Armstrong, Curzan, Armstrong, Simona Quadarella, Italy romped, Hwang Sun, Kaylee McKeown, Regan Smith, Iona Anderson, Canada's Ingrid Wilm, ” Curzan, ” Armstrong, “, Spain’s Hugo Gonzalez, Gonzalez, Ryan Murphy, Quadarella, Katie Ledecky, Ledecky, Li Bingjie, Isabel Gose, Hwang, Luke Hobson, Danas Rapsys, Hobson, ”, Kim Woo Organizations: University of Virginia, Paris, Cal, Doha, Ledecky, Olympic, Paris Olympics, University of Texas Locations: DOHA, Qatar, U.S, Doha, Italy, South Korea, Fukuoka, Ohio, Paris, Quadarella, China, Germany, Nevada

☆ Jon Stewart finally said what we were all thinking about Biden's age
▼ + stars: | 2024-02-13 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

Jon Stewart has returned to "The Daily Show." On his first day back, he dedicated much of his monologue to Joe Biden's age. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Stewart did, however, dedicate time in his monologue to outlining precisely the ways in which Biden is not Trump.

Persons: Jon Stewart, Joe Biden's, Biden, —, Joe Biden, Donald Trump, Stewart, Kamala Harris, Donald Trump's, Conan, Trump, who's Organizations: Service

☆ Bank of America says try the 'Magnificent 80' portfolio instead as income investing comes back into favor
▼ + stars: | 2024-02-13 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

The narrow stock market rally could broaden out beyond megacap tech, and investors should target the "Magnificent 80" stocks, according to Bank of America's Savita Subramanian. Both are key reasons Subramanian sees the market rally broadening, alongside an expected spike in volatility tied to the U.S. election and Federal Reserve interest rate cuts. To play the expected widening market rally, Subramanian points toward the so-called "Magnificent 80" stocks, which are composed largely of companies with strong fundamentals. These names, which Bank of America screened for, have higher equity income potential than cash, touting competitive dividend yields. Here are a few of those Magnificent 80 companies that are rated buy by Bank of America.

Persons: Bank of America's Savita Subramanian, Subramanian, Philip Morris Organizations: Bank of America's, Microsoft, Nvidia, Tesla, Federal, Bank of America, Ford, Bank, America's, Wall, Chevron, Truist

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