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The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, November 15, 2022. Amazon will purchase the credits from the 1PointFive direct air capture (DAC) plant in Texas, which is being developed by oil company Occidental’s Oxy Low Carbon Ventures subsidiary and will use them to help meet its climate target of net zero carbon emissions by 2040. The company did not reveal any financial details of the deal, but developers of DAC technology have said removal credits currently cost in the mid-to-high-triple digits in dollars per metric ton. Microsoft last week signed a multi-year deal for the purchase of 315,000 metric tons with U.S. project developer Heirloom. Jamey Mulligan, head of carbon neutralization science and strategy at Amazon said an “all hands on deck approach” was needed to scale up the technology.

Persons: Pascal, Jamey Mulligan, ”, Mulligan, Susanna Twidale, Sharon Singleton Organizations: REUTERS, Carbon Ventures, DAC, Microsoft, U.S, Amazon, U.S . Department of Energy, Thomson Locations: Lauwin, France, Texas, Paris, Occidental

☆ Final Trade: OLLI, FL, OXY, ET
▼ + stars: | 2023-09-08 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trade: OLLI, FL, OXY, ETThe final trades of the day with CNBC’s Melissa Lee and the Fast Money traders.

Persons: OLLI, CNBC’s Melissa Lee Organizations: Fast Money

☆ Here are Friday's biggest analyst calls: Nvidia, Imax, Ulta, Netflix, Alphabet, Microsoft, Chewy & more
▼ + stars: | 2023-08-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Barclays upgrades Grab Holdings to overweight from equal weight Barclays upgraded the Asian ride-hailing and food delivery company after its earnings report earlier this week. " Morgan Stanley upgrades Abercrombie & Fitch to equal weight from underweight Morgan Stanley upgraded the stock after its earnings report on Thursday. Needham reiterates Nvidia as buy After a transfer in analyst coverage, Needham said it's standing by its buy rating on the stock. " Barclays reiterates Ulta as overweight Barclays said Ulta is "best-in-class" after its earnings report on Thursday. Benchmark reiterates Imax as buy Benchmark said it's standing by its buy rating on Imax despite a report of a delay in film releases.

Persons: Baird, Jefferies, Ferrari, Morgan Stanley, Fitch, Piper Sandler, Piper, Needham, it's, Goldman Sachs, Goldman, Ulta, Oppenheimer Organizations: Google, Ferrari, Barclays, JPMorgan, Abercrombie, Citi, Marvel, Western Alliance, Nvidia, NVIDIA, Netflix, Occidental Petroleum, Microsoft, TAM Locations: Southeast Asia, Hollywood, NFLX

☆ Top Buffett stock bulks ups its carbon capture business as demand grows for this technology
▼ + stars: | 2023-08-16 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Occidental, which is a top holding of Warren Buffett 's Berkshire Hathaway , is one of a handful of companies eyeing the capture, use and storage of carbon as a long-term business venture. The company expects to align the Canadian air capture company with the work of 1PointFive, the Occidental-owned business already working on the technology. Bilson said the acquisition should help speed up Occidental's timeline for releasing a global carbon removal offering. Wall Street firms are also watching a handful of other companies such as Baker Hughes , Weyerhaeuser and Bloom Energy as potential winners amid the growing focus on carbon technology. Interested in learning more about carbon capture and the major stocks in the space?

Persons: Warren Buffett, Berkshire Hathaway, Gordon Haskett, Don Bilson, Bilson, CCUS, Wood MacKenzie, Goldman Sachs, Baker Hughes Organizations: Occidental Petroleum, Carbon Engineering, Occidental, Wall, Weyerhaeuser, Bloom Energy, CNBC Pro Locations: America, Occidental

The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. The DAC technology is in early stages of commercialization and will require multibillion-dollar investments to prove it can work economically and generate profits. President Joe Biden's administration views DAC technology as a tool to help meet a goal of neutralizing emissions by 2050, if it can be commercialized and applied at industrial scale. While carbon capture is applied to emissions produced at industrial facilities, DAC actively removes CO2 from the air. Some of that money will fund Occidental's 30 proposed DAC plants in Kleberg Country, Texas.

Persons: Brendan McDermid, " Roth, Joe Biden's, Vicki Hollub, Sourasis Bose, Shilpi Majumdar, David Gregorio Our Organizations: Occidental Petroleum, New York Stock Exchange, REUTERS, Carbon Engineering Ltd, Occidental, Low Carbon Ventures, U.S . Department of Energy, Congress, Carbon Engineering, Thomson Locations: New York, U.S, Texas, Louisiana, Country , Texas, Occidental, Bengaluru

☆ Carbon storage is gaining favor. These are the companies investors need to know
▼ + stars: | 2023-08-15 | by ( Alex Harring | ) www.cnbc.com time to read: +8 min

Carbon capture, utilization and storage processes have been around for half a decade, but are currently gaining momentum. Some focus on modifying already-standing power as well as industrial plants that work on carbon capture. Put more succinctly, Deutsche Bank analyst James Hubbard called carbon capture "simple in theory" but "capital intensive and divisive" in reality. He also noted the company has one of the industry's largest carbon capture positions. Staphos cited the potential of its carbon capture operations as a long-term reason to be optimistic, even as its more traditional end-market, homebuilding, faces near-term pressure.

Persons: CCUS, Worley, Wood MacKenzie, Goldman Sachs, Jan Hatzius, Hatzius, James Hubbard, Goldman's Brian Singer, Baker Hughes, Goldman, Ati Modak, hasn't, Stephens, Mike Scialla, Scialla, George Staphos, Staphos, — CNBC's Michael Bloom Organizations: Big, International Energy Agency, U.S . Department of Energy, Battelle, Carbon Technologies, Occidental Petroleum, Carbon Engineering, Energy, Deutsche Bank, Wall Street, Occidental Petroleum . Energy, Baker, Occidental, of Energy, Bank of America, Weyerhaeuser, Bloom Energy, CF Industrial, Honeywell, KBR, Linde, Nutrien, Teledyne, Refinitiv Locations: Vermont, stoke, Maui, Big Tech, Texas, Louisiana, Carbon Technologies . Texas, Kleberg County, Rio Grande, Denmark, Switzerland, Union, Occidental, Boise, Pacific

☆ Big tech losses sink Nasdaq, S&P as US Treasury yields rise
▼ + stars: | 2023-08-11 | by ( David French | ) www.reuters.com time to read: +5 min

It was the first time in 2023 that the Nasdaq fell for two straight weeks. The S&P 500 ended the week down 0.3%, with the Nasdaq 1.9% lower. Yield on the two-year U.S. Treasury note , that moves in line with near-term interest rate expectations, climbed to 4.88%. REUTERS/Brendan McDermid//File PhotoMegacap growth and technology stocks have led outsized gains this year in the tech-heavy Nasdaq (.IXIC) and the S&P 500 (.SPX). The S&P 500 posted 4 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 52 new highs and 169 new lows.

Persons: Refinitiv, We've, Jason Betz, Brendan McDermid, Ameriprise's Betz, Rupert Murdoch, Bansari Mayur Kamdar, Johann M, David French, Shashwat Chauhan, Vinay Dwivedi, David Gregorio Our Organizations: Treasury, Nasdaq, Dow Jones, Federal Reserve, Ameriprise, Inc, Microsoft, Nvidia, Traders, New York Stock Exchange, REUTERS, International Energy Agency . Occidental Petroleum Corp, U.S, News Corp, Thomson Locations: U.S, New York City, JD.com, Bengaluru, New York

☆ Nasdaq, S&P end lower as rising US Treasury yields sink big tech
▼ + stars: | 2023-08-11 | by ( David French | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023. It was the first time this year that the Nasdaq notched two weekly losses in a row. Megacap growth and technology stocks have led outsized gains this year in the tech-heavy Nasdaq (.IXIC) and the S&P 500 (.SPX). According to preliminary data, the S&P 500 (.SPX) lost 4.52 points, or 0.10%, to end at 4,464.31 points, while the Nasdaq Composite (.IXIC) lost 73.83 points, or 0.54%, to 13,647.20. The energy sector's increase was aided by crude prices rising on forecasts for tightening supplies from the International Energy Agency.

Persons: Brendan McDermid, Refinitiv, We've, Jason Betz, Ameriprise's Betz, Rupert Murdoch, JD.com, Bansari Mayur Kamdar, Johann M, David French, Shashwat Chauhan, Vinay Dwivedi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Treasury, Nasdaq, Federal Reserve, Ameriprise, Microsoft, Nvidia, Dow Jones, University of Michigan, International Energy Agency . Occidental Petroleum Corp, U.S, News Corp, Thomson Locations: New York City, U.S, Bengaluru, New York

That includes a $35 million government procurement program for carbon removal credits, and funding for 14 feasibility studies and 5 engineering and design studies for earlier-stage hub projects. Worsening climate change and inadequate efforts to cut emissions have thrust carbon removal into the spotlight. Although most environmental activists acknowledge that carbon removal will be needed for global climate targets to be met, they are concerned companies could use carbon removal development to give fossil fuel companies cover to maintain production, especially in minority and low-income areas. Erin Burns, director of carbon removal advisory firm Carbon180, said the United States is positioning itself as a leader in this technology. "This is the first major federal investment from any country on carbon removal at this level," Burns said.

Persons: Worley, Jennifer Granholm, Vicki Hollub, Erin Burns, Carbon180, Burns, Valerie Volcovici, Gerry Doyle Organizations: Reuters, REUTERS, Occidental Petroleum Corp, WASHINGTON, U.S . Department of Energy, Department of Energy, DOE, Battelle, Climeworks Corporation, Carbon, Inc, South, South Texas DAC, Occidental 1PointFive, Carbon Engineering Ltd, DAC, Energy Department, United Arab, Occidental, Thomson Locations: Handout, Texas, Louisiana, Cypress, South Texas, Kleberg County , Texas, United Arab Emirates, United States

☆ Occidental and Climeworks big winners as Biden allocates billions for CO2 removal
▼ + stars: | 2023-08-11 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

The money from the Bipartisan Infrastructure Law will now help fund two DAC hub projects, one in Texas and one in Louisiana. They will eventually remove more carbon per year than all of the current projects combined. Climeworks, based in Zurich, Switzerland, currently has the world's largest DAC plant in Iceland, which removes about 4,000 tons of CO2 per year. The DAC Hubs program is a vital investment for DAC to reach climate impact at scale," said Andrew Fishbein, senior climate policy manager for Climeworks. Heirloom is a California-based startup that is using limestone to remove carbon from the air.

Persons: Jennifer Granholm, Vicki Hollub, Andrew Fishbein Organizations: U.S . Department of Energy, Law, of Energy, Occidental Petroleum, Biden, Department, DAC, Breakthrough Energy, Microsoft Locations: Texas, Louisiana, U.S, Corpus Christi, United States, The Louisiana, Zurich, Switzerland, Iceland, California, Paris

☆ Berkshire posts record operating profit, rising rates boost Buffett's returns
▼ + stars: | 2023-08-05 | by ( Jonathan Stempel | ) www.reuters.com time to read: +5 min

"The earnings impact of higher interest rates on investment income is offsetting the economic softness caused by those same rates," he added. Investors closely watch Berkshire because of Buffett's reputation, and because results from the Omaha, Nebraska-based company's operating units often mirror broader economic trends. NOT LOVING VALUATIONSQuarterly operating profit rose 7% to $10.04 billion, or about $6,938 per Class A share, from $9.42 billion a year earlier. Berkshire repurchased $1.4 billion of stock in the quarter, down from $4.4 billion from January to March. Overall profit from Berkshire Hathaway Energy, where Berkshire has a 92% stake, was little changed at $785 million.

Persons: Warren Buffett, Rick Wilking, Berkshire Hathaway, Jim Shanahan, Edward Jones, Buffett, Cathy Seifert, Seifert, PacifiCorp, Jonathan Stempel, Ira Iosebashvili, Angus MacSwan, Jan Harvey, Alistair Bell, Diane Craft Organizations: Berkshire Hathaway Inc, Omaha , Nebraska U.S, REUTERS, Berkshire, Berkshire's Clayton Homes, Profit, BNSF, Forbes, Berkshire repurchased, Apple, Berkshire Hathaway Energy, Occidental Petroleum, Thomson Locations: Omaha , Nebraska, Berkshire, Alleghany, Oregon, An Oregon, Occidental, New York

☆ Berkshire posts record operating profit, $35.9 billion of net income
▼ + stars: | 2023-08-05 | by ( Jonathan Stempel | ) www.reuters.com time to read: +4 min

Quarterly operating profit topped $10 billion for the first time but grew just 7%, in part from recent purchases of the Alleghany insurer and Pilot truck stop operator. Second-quarter operating profit rose to $10.04 billion, or about $6,938 per Class A share, from $9.42 billion a year earlier. Net income totaled $35.91 billion, or $24,775 per Class A share, compared with a year-earlier $43.62 billion loss. Pilot added $114 million to operating profit. Overall profit from Berkshire Hathaway Energy, in which Berkshire has a 92% stake, was little changed at $785 million.

Persons: Warren Buffett, Rick Wilking, Berkshire Hathaway, Cathy Seifert, Seifert, Buffett, PacifiCorp, Jonathan Stempel, Angus MacSwan, Jan Harvey, Alistair Bell Organizations: Berkshire Hathaway Inc, Omaha , Nebraska U.S, REUTERS, Berkshire, Clayton Homes, BNSF, Berkshire repurchased, Apple, Occidental Petroleum, Berkshire Hathaway Energy, Forbes, Thomson Locations: Omaha , Nebraska, Berkshire, Alleghany, Occidental, An Oregon, New York

☆ Final Trades: AMD, OXY, CAT & EEM
▼ + stars: | 2023-08-04 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: AMD, OXY, CAT & EEMThe final trades of the day with CNBC’s Melissa Lee and the Fast Money traders.

Persons: CNBC’s Melissa Lee Organizations: AMD, CAT, Fast Money

REUTERS/Brendan McDermid/File PhotoCompanies Conocophillips FollowOccidental Petroleum Corp FollowAug 3 (Reuters) - ConocoPhillips (COP.N) slightly raised its full-year output expectations on Thursday, even as it posted a lower-than-expected quarterly profit. That helped the company raise its full-year production outlook for a second time this year and now expects it to range between 1.80 million boepd and 1.81 million boepd. The company in May said it expected production between 1.78 million boepd and 1.80 million boepd. ConocoPhillips also narrowed its capital spending guidance range to between $10.8 billion and $11.2 billion, from previous guidance of $10.7 billion to $11.3 billion. Rival Occidental Petroleum (OXY.N) on Wednesday had also raised its full-year production forecast, but missed second-quarter profit expectations due to the slide in prices.

Persons: Brendan McDermid, Arathy Somasekhar, Mrinalika Roy, Shinjini Ganguli, Toby Chopra Organizations: ConocoPhillips, New York Stock Exchange, REUTERS, Conocophillips, Occidental Petroleum Corp, Rival Occidental Petroleum, Thomson Locations: New York, U.S, Houston, Bengaluru

REUTERS/Brendan McDermidAug 2 (Reuters) - Occidental Petroleum (OXY.N) on Wednesday raised its full-year production forecast by 1%, but missed second-quarter profit expectations due to a slide in oil and gas prices and took a writedown to exit some operations. Weak oil and gas prices have hit earnings of U.S. oil producers after a bumper year in 2022 when Russia's invasion of Ukraine buoyed energy prices. The better-than-expected output in the quarter also helped the company raise its full-year production guidance by 1% to between 1.19 million boepd and 1.24 million boepd, from a midpoint of 1.195 million previously. Meanwhile, rival U.S. oil producers Marathon Oil (MRO.N) and APA Corp (APA.O) reported quarterly earnings that beat analysts' estimates on higher than projected output. Apache said output was tracking in line with its full-year production guidance of 404,000 to 408,000 boepd.

Persons: Brendan McDermid, Mrinalika Roy, Arun Koyyur, Matthew Lewis Organizations: Occidental Petroleum, New York Stock Exchange, REUTERS, Oil, APA Corp, Apache, Thomson Locations: New York, U.S, Ukraine, Occidental, Suriname, Bengaluru, Arathy, Houston

☆ On tap this week: Jobs report plus 10 key earnings. Here's what we want to see
▼ + stars: | 2023-07-29 | by ( Zev Fima | ) www.cnbc.com time to read: +18 min

All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

Persons: We'll, that's, Stanley Black, Decker, Emerson, Bausch, Leggett, Platt, SIRI, Ares, COLM, PERI, Kraft Heinz, Phillips, Ferrari N.V, Johnson, Robinson, COOK, BUD, Kellogg, Papa, Pitney Bowes, Parker, Trimble, Ziff Davis, Nonfarm, Jim Cramer's, Jim Cramer, Jim, Apple Tim Cook, Kevin Dietsch Organizations: Nasdaq, Dow, Federal Reserve, Federal, ISM Manufacturing, Services PMI, Investors, Caterpillar, Devices, Starbucks, Natural Resources, AMD, Management, Emerson Electric and, Humana, Bausch Health, Apple, Microsoft, Resource Partners, AerCap Holdings, CNA Financial Corp, CNA, Apellis Pharmaceuticals, Bank, SJW, Hutchison China MediTech, Camtek Ltd, Silvercrest Asset Management, Loews Corp, Oxford Lane Capital Corp, Banco Santander, Silicom Ltd, SuperCom Ltd, Arista Networks, Avis Budget Group, Diamondback Energy, Lattice Semiconductor Corp, Republic Services, Yum China Holdings, Western Digital Corp, Power Systems, Tenet Healthcare Corp, Vornado Realty, BioMarin Pharmaceutical, PetMed, SBA Communications Corporation, Brixmor, Snack Foods Corp, Cushman & Wakefield, Sanmina Corporation, TFI, PMI, Cruise Line Holdings Ltd, Uber Technologies, Pfizer, Enterprise Products Partners, Merck, JetBlue Airways Corporation, Allegro MicroSystems, Altria, SunPower Corp, SiriusXM Holdings, Molson Coors Beverage, Marriott International, Toyota Motor Corp, BP, SYSCO Corp, Marathon Petroleum Corp, Ares Management, Equitrans Midstream Corporation, Game Technology, Illinois Tool, IDEXX Laboratories, Rockwell Automation, Packaging International Corp, Gartner, Zebra Technologies Corp, IQVIA Holdings, Oshkosh Corporation, Leidos Holdings, Eaton Corp, yte Corp, Lear Corp, Starbucks Corp, Devon Energy Corp, SolarEdge Technologies, Lumen Technologies, Virgin Galactic Holdings, Caesars Entertainment, VF Corp, Sciences Corp, Paycom, Vertex Pharmaceuticals, Suncor Energy, Holdings, Chesapeake Energy Corp, Boston Properties, American International Group, AIG, Allstate Corp, Aspen Technology, Electronic Arts, EA, Flowserve Corporation, Denny's, Corp, Prudential Financial, Store, Ternium S.A, Vimeo, Emerson, Lomb, CVS Health, Generac Holdings, Cameco Corp, Perion Network Ltd, Builders, Carlyle Group, Scorpio, Teva Pharmaceutical Industries, Ltd, Rithm Capital Corp, AeroSystems Holdings, Vertiv Holdings Co, Johnson Controls, CDW Corp, DuPont, Brands Holdings, Scotts Miracle, Gro, SMG, Brands, Allegheny Technologies, AmerisourceBergen Corporation, ABC, Real Estate Corporation, Adient plc, Editas, Garmin Ltd, WWE, Bunge Ltd, Criteo S.A, PayPal, QUALCOMM, Occidental Petroleum Corp, Apache Corp, Albemarle Corp, MGM Resorts International, MGM, Marathon Oil Corp, Joby Aviation, Industrial, CF Industries Holdings, Goodyear Tire &, Realty ome Corp, Metlife, Pacific Biosciences of, Rush Street Interactive, Zillow, JFrog Ltd, Herbalife Nutrition Ltd, Simon Property Group, McKesson Corp, Storage, Cerus Corporation, GXO Logistics, MAX Holdings, Health, Anheuser, Busch InBev, Warner Bros ., Cheniere Energy, ConocoPhillips, Hasbro, CIGNA Corp, Lantheus Holdings, Regeneron Pharmaceuticals, Fiverr International, Air Products & Chemicals, TopBuild Corp, EPAM Systems, Lightspeed Commerce, Aurinia Pharmaceuticals, Cummins, CMI, Slair Corporation, Starwood Property Trust, Vulcan, Alnylam Pharmaceuticals, New Energy Corp, Cedar Fair Entertainment, Intellia Therapeutics, Lending, Privia Health, Dickinson, Chimera Investment, CIM, Hyatt Hotels Corp, Lion Electric, LEV, Deluxe Corp, Murphy Oil Corp, PBF Energy, Papa John's, Targa Resources Corp, Wix.com Ltd, Apollo Global Management, LLC, Butterfly, Sempra Energy, Aptiv PLC, Brookfield Infrastructure Partners, Canada Goose Holdings, Hannifin Corporation, WESCO International, WCC, Arrow Electronics, Constellation Energy Group, Midstream Partners, Coinbase, Petroleo Brasileiro SA Petrobras, Gilead Sciences, Opendoor Technologies, Booking Holdings, Atlassian Corporation, International, Redfin Corporation, Motorola Solutions, Monster Beverage Corporation, Consolidated Edison, Rocket Companies, Apple Hospitality, Cirrus, Resources, Universal Display Corporation, Chesapeake Utilities Corp, Social, Defense, Security Solutions, Post Holdings, Tandem Diabetes Care, Nikola Corporation, Magna International, Dominion Energy, ACM Research, Frontier Communications, Brookfield Renewable Partners, inTEST Corporation, American Pipeline, TELUS International, XPO Logistics, Fluor Corp, Gray Television, Cboe, LyondellBasell Industries, Twist Bioscience, Global, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley, Getty Locations: U.S, China, India, Oxford, Chile, Illinois, Columbia, Pacific, Pacific Biosciences of California, Southern, PBI, Gilead, Sun Valley , Idaho

☆ Warren Buffett flaunts his green investment thumb
▼ + stars: | 2023-07-17 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

NEW YORK, July 17 (Reuters Breakingviews) - How does Warren Buffett allocate capital? Buffett noted a few years ago how electric utilities need a “massive makeover” involving costs that would chew up BHE’s earnings for decades. Natural gas will also become increasingly important as a backup fuel. Unlike most utilities, BHE doesn’t have to pay a dividend – and neither does Berkshire, because of the faith investors have in the $750 billion company. This frees up capital, giving Buffett an edge where capex and acquisitions are concerned.

Persons: Warren Buffett, Buffett, Greg Abel, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, Berkshire Hathaway, Berkshire Hathaway Energy, Dominion, Chevron, Occidental Petroleum, Twitter, Dominion Energy, Brookfield Infrastructure Partners, Thomson Locations: Berkshire, Brookfield

☆ A fund manager beating 99% of his peers over the last 5 years explains why value is gearing up for a rebound following AI-driven mania — and shares 7 cheap stocks to bet on
▼ + stars: | 2023-07-13 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

A common phrase you'll hear from folks at Smead Capital Management is "fear stock market failure." He manages the Smead Value Fund (SMVLX), which has beaten 99% of similar funds over the last five-year period, and 97% over the last 10- and 15-year periods, according to Morningstar data. Value stocks to buyWithin value stocks, Smead is most bullish on the energy sector, as he believes we're in the earlier stages of a "commodities super cycle." Another area of the market Smead is bullish on right now is shopping mall real-estate investment trusts, or REITs. "Collecting a 6% dividend from them and having upside potential in a stock market that might struggle looks like a winning hand."

Persons: Bill Smead, Smead, he's, Smith Barney, Wells, Ben, we're, Stifel's Barry Bannister, millenials, it's Organizations: APA, DVN, MAC, Smead Capital Management, Morningstar, Smead Capital, Smead, Management, Occidental Petroleum, ConocoPhillips, Property Group, Simon Property Group Locations: OXY, Devon

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Carnival, Snowflake, Nike, SolarEdge and more
▼ + stars: | 2023-06-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Jefferies upgrades Carnival to buy from hold Jefferies said it sees a "confluence of positive dynamics" for Carnival. Citi initiates Apple as buy Citi said it sees further upside for the tech giant, slapping a Street-high $240 price target. Citi initiates Dell as buy Citi said the computer maker is gaining share. Goldman Sachs reiterates Nike as buy Goldman Sachs said it's standing by shares of Nike after the company's earnings report Thursday. " Bank of America reiterates T-Mobile as buy Bank of America said the stock is "undervalued."

Persons: TD Cowen, Cowen, Goldman Sachs, Goldman, Jefferies, Snowflake, Virgin, Daiwa, NKE, Stephens, SolarEdge, Riley, Stifel, Davidson Organizations: Citi, Pacific Biosciences, Pacific Bioscience, Jefferies, Deutsche Bank, Apple, Dell, Bank of America, Virgin Galactic, underperform Bank of America, Virgin Galactic's, Italian Air Force, AMD, Intel, Nike, BMO, FirstService Brands, Occidental Petroleum, Mobile, Southwestern Energy Locations: 3Q23, China, Occidental, midstream

Stronger than expected economic data pushed Treasury yields higher and steered investors toward economically sensitive sectors as recession fears eased. But buyers shied away from some rate-sensitive growth sectors due to concerns the Fed would keep interest rates higher for longer. After a health check showed that the biggest U.S. banks have enough capital to weather a severe economic slump the S&P 500 banks index (.SPXBK) closed up 2.6%. The Dow Jones Industrial Average (.DJI) rose 269.76 points, or 0.8%, to 34,122.42, the S&P 500 (.SPX) gained 19.58 points, or 0.45%, to 4,396.44 and the Nasdaq Composite (.IXIC) dropped 0.42 points to 13,591.33. The S&P 500 posted 44 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 90 new highs and 90 new lows.

Persons: Mona Mahajan, Louis, Edward Jones, Russell, Jerome Powell, Brendan McDermid, Air Jordan, Sinéad Carew, Sruthi Shankar, Johann M, Shinjini Ganguli, David Gregorio Our Organizations: Dow, Nasdaq, St, Dow Jones, New York Stock Exchange, REUTERS, Brendan McDermid Traders, Reuters, Nvidia, Microsoft, SOX, Micron Technology, Occidental Petroleum, Berkshire Hathaway Inc, Nike, Air, LeBron, NYSE, Thomson Locations: New York City, U.S, megacaps, Philadelphia, New York, Bengaluru

[1/5] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 29, 2023. REUTERS/Brendan McDermidJune 29 (Reuters) - The Dow and the S&P 500 rose on Thursday as bank shares rallied after major lenders cleared the Federal Reserve's annual stress test, while strong economic data stoked expectations of further interest rate hikes from the central bank. Stronger than expected economic data pushed Treasury yields higher and steered investors toward economically sensitive sectors as recession fears eased. Buyers shied away from rate-sensitive growth sectors due to concerns that the Fed would keep interest rates higher for longer. After a health check showed that the biggest U.S. banks have enough capital to weather a severe economic slump the S&P 500 banks index (.SPXBK) gained.

Persons: Brendan McDermid, Buyers, Mona Mahajan, Louis, Edward Jones, Jerome Powell, underpeformed, Sinéad Carew, Sruthi Shankar, Johann M, Shinjini Ganguli, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Dow, St, Nasdaq, Dow Jones, Traders, Reuters, Microsoft, Micron Technology, Occidental Petroleum, Berkshire Hathaway Inc, Nike, Thomson Locations: New York City, U.S, megacaps, Philadelphia, New York, Bengaluru

Bank of New York Mellon (BK.N) and Charles Schwab (SCHW.N) rose 1.1% and 2.0%, respectively. The S&P 500 banks index (.SPXBK) gained 2.5%, while the KBW Regional Banking index (.KRX) climbed 1.8%. Six of the 11 major S&P 500 sectors rose, as gains in financials (.SPSY) and energy (.SPNY) helped offset losses in utilities (.SPLRCU) and consumer staples (.SPLRCS). The S&P index recorded 11 new 52-week highs and two new lows, while the Nasdaq recorded 30 new highs and 29 new lows. Reporting by Sruthi Shankar and Johann M Cherian in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: JPMorgan Chase, Goldman Sachs, Wells, Charles Schwab, Thomas Hayes, Jerome Powell, Powell's, Sruthi Shankar, Johann M, Shinjini Organizations: Dow, Nasdaq, Bank of America, JPMorgan, Bank of New York Mellon, Great, Reuters, Dow Jones, Micron Technology, Occidental Petroleum, Berkshire Hathaway Inc, NYSE, Thomson Locations: KBW, Great Hill, financials, Bengaluru

But the odds of the hikes are much less than Powell is projecting so tech stocks are benefiting," said Hayes. Apple (AAPL.O) inched 0.3% higher after closing at a record high on Thursday and edging closer to a $3 trillion market capitalization. ET, to gauge the outlook for interest rates. Micron Technology (MU.O) rose 3.3% after the chipmaker beat estimates for third-quarter results, powered by demand for its memory chips. Reporting by Sruthi Shankar and Johann M Cherian in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Berkshire Hathaway, JPMorgan Chase, Goldman Sachs, Wells, Charles Schwab, Thomas Hayes, Jerome Powell, Powell, Hayes, Raphael Bostic, Sruthi Shankar, Johann M, Shinjini Organizations: Micron, Occidental Petroleum, Dow, Bank of America, JPMorgan, Bank of New York Mellon, Great, Apple, Nvidia, Atlanta Fed, Reuters, Dow e, Nasdaq, Micron Technology, Berkshire Hathaway Inc, Intelligence, Thomson Locations: Berkshire, Great Hill, Bengaluru

☆ 10 things to watch in the stock market Thursday, including bank stress tests and a possible chip trough
▼ + stars: | 2023-06-29 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

U.S. banks go 23 for 23, passing this year's Fed's stress test, including Club names Wells Fargo (WFC) and Morgan Stanley (MS). KeyBanc downgrades Club name Disney (DIS) to sector weight from overweight (hold from buy) without a price target. Piper upgrades to neutral from underweight (hold from sell), Bank of America increases price target to $76 per share from $68. Piper Sandler initiates coverage on the off-price retailers, starting Club holding TJX Companies (TJX) with a buy-equivalent overweight rating and a $110-per-share price target. Cuts price target to $40 per share from $47.

Persons: Premarket, Wells, Morgan Stanley, KeyBanc, Sanjay Mehrotra, McCormick, Piper Sandler, Piper, Eli Lilly, Warren Buffett's Berkshire, Jim Cramer's, Jim Cramer, Jim Organizations: Dow, Nasdaq, Citi, Disney, Micron, Bank of America, Netflix, TJX Companies, Marshalls, Ross Stores, Burlington Stores, Pfizer, Credit Suisse, Occidental Petroleum, Warren, Warren Buffett's Berkshire Hathaway, Berkshire, Energy, Halliburton, HAL, JPMorgan, Jim Cramer's Charitable, CNBC Locations: Big, Maxx, HomeGoods

☆ Berkshire Hathaway boosts Occidental stake to 25%. Why Warren Buffett loves this energy play so much
▼ + stars: | 2023-06-29 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway keeps buying the dip in Occidental Petroleum , now owning a quarter of the oil giant. The conglomerate purchased an additional 2.1 million Occidental shares on Monday, Tuesday and Wednesday, boosting its stake in the Houston-based energy producer to 25.1%, a new regulatory filing showed. Berkshire now owns 224.1 million shares, worth $12.9 billion based on Wednesday's closing price of $57.46. The buying spree this year came as Occidental shares pulled back after a stellar 2022. Berkshire also owns $10 billion of Occidental preferred stock, and has warrants to buy another 83.9 million common shares for $5 billion, or $59.62 each.

Persons: Warren, Berkshire Hathaway, oilman Armand Hammer, Vicki Hollub, she's, Buffett, Hollub Organizations: Occidental Petroleum, Occidental, Berkshire, Buffett, Cities Service Locations: Occidental, Houston, Berkshire

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