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☆ Traders see small caps and short-term bonds as big winners from likely Fed rate cut
▼ + stars: | 2024-09-18 | by ( Frank Holland | In Frank-Holland | ) www.cnbc.com time to read: +2 min

(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for PRO subscribers. Traders and investors are debating if the Federal Reserve will cut 25 basis points or 50 basis points when the decision comes at 2pm eastern time. "25 or 50 (basis points), we see a credible case for either. "The Fed is likely to adjust policy by 200 to 250 basis points over the coming year. Garewal also said this rate cut was part of a "normalization" cycle and shared research that yields on the 2-year fall 65 basis points on average after a first Fed cut.

Persons: Jerome Powell, Mark Smith, Wells, stagflation, Smith, Craig Johnson, Piper Sandler, Russell, Johnson, Goldman Sachs, Garewal, Piper Sandler's Johnson, Huntington, Kevin Murphy Organizations: PRO, Worldwide, Traders, Federal Reserve, Advisors, Worldwide Exchange, Blackstone, Mastercard, Visa, Ameris Bancorp, Fed, Ferguson Enterprises

☆ Johnson: The economy seems okay. More rate cuts are expected.
▼ + stars: | 2024-09-18 | 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 EmailJohnson: The economy seems okay. More rate cuts are expected. Craig Johnson, Chief Market Technician at Piper Sandler, expects more rate cuts and remains bullish on both tech and small/midcap stocks, particularly in the financial sector, as a normalizing yield curve benefits banks.

Persons: Johnson, Craig Johnson, Piper Sandler

☆ Federal judge allows prediction market Kalshi to offer betting on upcoming US elections
▼ + stars: | 2024-09-12 | by ( Piper Hudspethblackburn | Piper Hudspeth Blackburn | ) edition.cnn.com time to read: +3 min

CNN —A federal judge made way on Thursday for legal political gambling in the United States, rejecting a federal watchdog’s last-minute effort to delay a prediction market from offering bets on the November elections. She also denied a request by the government during Thursday’s hearing to block Kalshi from offering contracts pending its appeal. The CFTC has argued that the contracts count as illegal gambling and that it doesn’t have the resources to monitor them. Its chairman, Rostin Behnam, has also warned that election contracts would “ultimately commoditize and degrade the integrity” the electoral process. Luana Lopes Lara, a co-founder of Kalshi, celebrated the decision on Thursday, writing on X, “WE’RE LIVE.” The CFTC declined to comment.

Persons: Jia Cobb, “, ” Cobb, Kalshi, Rostin Behnam, Luana Lopes Lara, ” Organizations: CNN, Senate, Futures Trading Commission, DC, Kalshi, CFTC Locations: United States, Washington ,, Kalshi, New York

☆ Why VW investing $5 billion in Rivian might be transformative for both companies — and the auto industry
▼ + stars: | 2024-09-12 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

Electric truck maker Rivian's $5 billion deal with Volkswagen Group nets Rivian some much-needed cash. But it also gives Volkswagen a path to a future in the auto industry it has struggled to gain on its own. As of the second quarter, Rivian was losing somewhere around $1.5 billion per quarter — or about $30,000 to $43,000 on every truck it sold in the past five quarters. Financial strain and instability in the EV market and the broader economy have led to multiple rounds of layoffs at Rivian. But there are still challenges: Automotive history is littered with failed partnerships, Rivian and VW are still competitors, and the EV transition has proven rockier than many forecasters had expected.

Persons: Rivian, Joe McCabe, Alex Potter, Piper Sandler Organizations: Volkswagen Group, Volkswagen, AutoForecast Solutions, EV, VW Locations: Georgia

Sen. JD Vance introduces former President Donald Trump during a rally at Herb Brooks National Hockey Center on July 27 in St. Stephen Maturen/Getty ImagesFormer President Donald Trump and Republican vice presidential nominee Sen. JD Vance continue to falsely describe how one of their major policy proposals, across-the-board tariffs, would work. Trump has falsely, and repeatedly, claimed that China – not US importers – pays the tariff. “It’s fair to call a tariff a tax because that’s exactly what it is,” said Erica York, a senior economist at the right-leaning Tax Foundation. He also said he would impose a “100% tariff” on countries that shift away from using the US dollar.

Persons: Sen, JD Vance, Donald Trump, Stephen Maturen, Trump, –, Kamala Harris, ” Trump, ” Vance, ”, Erica York, “, Joe Biden Organizations: Herb Brooks National Hockey Center, Republican, Democratic, Fox News, Trump, Tax, US, US International Trade Commission Locations: St, Cloud , Minnesota, China, Arizona

☆ Investors buying regional banks have to believe a soft landing is coming: Piper Sandler's Siefers
▼ + stars: | 2024-09-10 | 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 EmailInvestors buying regional banks have to believe a soft landing is coming: Piper Sandler's SiefersScott Siefers, Piper Sandler senior analyst, joins 'Closing Bell Overtime' to talk pressure on the bank sector.

Persons: Piper Sandler's Siefers Scott Siefers, Piper Sandler Organizations: Investors

☆ Stocks making the biggest moves before the open: Apple, Oracle, Boot Barn, Mission Produce and more
▼ + stars: | 2024-09-10 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Mission Produce — The avocado producer surged 21.6% after reporting revenue for the fiscal third quarter jumped 24% from a year ago. The company reported sales of $324 million, compared with $261.4 million in the same three-month period one year before. Boot Barn — Shares rose 6% after the Western-style retailer provided an update on its recent performance ahead of a Piper Sandler Growth Frontiers Conference presentation. Boot Barn announced preliminary consolidated same-store sales growth of 4% in its fiscal second quarter. Johnson Controls International — Shares rose nearly 2% after JPMorgan upgraded the stock to buy from neutral.

Persons: Piper Sandler, LSEG . Patterson, Alibaba, Morgan Stanley, Wells Fargo, —, Samantha Subin, Sean Conlon, Lisa Kailai Han, Jesse Pound, Yun Li, Scott Schnipper Organizations: Growers, Oracle, LSEG, Apple, Hewlett Packard Enterprise, Juniper Networks, Revenue, UTI Energy, Hong, Reuters, Johnson, JPMorgan, Anheuser, Busch Inbev SA, Equity Locations: California, U.S, Alibaba —, China, Hong Kong, Shanghai, Shenzhen, Wells

☆ Wall Street Apple analysts underwhelmed by new iPhone's AI features
▼ + stars: | 2024-09-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Apple 's high stakes September launch event left some Wall Street analysts feeling unsettled. The largest company in the U.S. announced a host of new products Monday at its California headquarters, including a new Apple Watch, AirPods and the highly anticipated iPhone 16 that harnesses AI tools called Apple Intelligence. The delayed AI launch also creates uncertainty for sales volumes over the next two quarters, Long added. UBS analyst David Vogt viewed the event as "anticlimactic," adding that Apple offered no "killer" AI application. Elsewhere, Piper Sandler's Matt Farrell reiterated his neutral rating and $225 price target, noting that a slow rollout of Apple Intelligence could actually hamper enthusiasm for the features.

Persons: Tim Long, Apple, Long, Bernstein's Toni Sacconaghi, David Vogt, Wells, Aaron Rakers, Samik Chatterjee, MoffettNathanson's Craig Moffett, Tim Cook, Piper, Matt Farrell, Brandon Nispel Organizations: Apple, U.S, Apple Watch, Apple Intelligence, Barclays, UBS, Beta Locations: California, China, Europe

☆ Cuomo expresses sympathy for Covid-19 victims, criticizes Trump’s pandemic response in contentious hearing
▼ + stars: | 2024-09-10 | by ( Clare Foran | Gloria Pazmino | ) edition.cnn.com time to read: +10 min

The hearing focused in on nursing home deaths and a controversial March 2020 directive from the New York State Department of Health on hospital discharges and nursing home admissions. “You own this,” Republican Rep. Brad Wenstrup of Ohio, chairman of the subcommittee, told Cuomo at the outset of the hearing. The former governor has defended his handling of the pandemic, saying that the state followed federal guidelines. New York State Attorney General Letitia James issued a report in 2021 finding that the New York State Department of Health undercounted Covid-19 deaths among nursing home residents by approximately 50%. The New York health department undercounted the number of Covid-19 deaths in nursing homes by thousands during Cuomo’s time in office, an audit conducted by state officials found in 2022.

Persons: Andrew Cuomo, Donald Trump’s, Cuomo, ” Cuomo, Brad Wenstrup of, Raul Ruiz, “, Gov . Cuomo, Nicole Malliotakis, “ you’ve, you’ve, That’s, Wenstrup, Kathy Hochul’s, Hochul, ” Wenstrup, Avi Small, ”, Anthony Fauci, Azzopardi, Letitia James, New York State Department of Health undercounted, Critics, Kathy Hochul, James ’, CNN’s Paul LeBlanc, Annie Grayer, Piper Hudspeth Blackburn Organizations: CNN, Former New York Gov, GOP, Trump, Democrat, New York State Department of Health, Republicans, ” Republican, Gov, New, New York Republican, ”, Centers, Medicare, Services, US Centers for Disease Control, Department of Health, National Institute of Allergy, New York, Department of Justice, New York State Assembly, New York Gov Locations: Brad Wenstrup of Ohio, New York, New York City, York, Manhattan

☆ Small caps are outperforming large caps. How to use charts to find buy candidates in the group
▼ + stars: | 2024-09-10 | by ( Todd Gordon | ) www.cnbc.com time to read: +5 min

Then on July 11, things really got started as June CPI came in below expectations and the outlook for the first Fed rate cut became significantly more likely. Let's drill down into the sectors that makeup the Russell 2000 to see who's leading and lagging since that July 5th turning point. Let's find out who is actually profitable and could maintain the rally after the initial shine of a fresh rate cut wears off. Where to look in small caps A big component of the Russell 2000 based on market capitalization representation is health care at 18.7%. Should the Fed strike a dovish tone after the first rate cut I will be shopping for quality names.

Persons: Russell, Piper Sandler, Hamilton Lane, Jefferies, JEF, Todd Gordon, Gordon, ARES Organizations: Nasdaq, Inside Edge, CNBC PRO, Ares Management, Fed, CNBC, NBC UNIVERSAL Locations: financials

☆ Stocks making the biggest moves midday: Ally Financial, Southwest Airlines, Oracle and more
▼ + stars: | 2024-09-10 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Mission Produce , Calavo Growers — Shares gained 20% after the avocado producer reported a year-over-year revenue increase of 24% for the fiscal third quarter. Calavo Growers advanced around 12% after the rival producer reported adjusted earnings of 57 cents per share in its fiscal third quarter. That is more than the 43 cents per share that analysts were expecting, according to FactSet. Oracle — Shares of the database software company surged more than 11% after a fiscal first-quarter beat on the top and bottom lines. For the fiscal second quarter, the company saw growth of 4% in preliminary consolidated same-store sales.

Persons: Russell Hutchinson, LSEG, Piper Sandler, Hewlett Packard, Rubrik, FactSet, Patterson, Gary Kelly, Bob Jordan, Alibaba, Daniel Pinto, — CNBC's Brian Evans, Samantha Subin, Lisa Kailai Han, Jesse Pound, Michelle Fox Organizations: Ally, Mission, Calavo, Calavo Growers, Oracle —, Oracle, Amazon Web Services, Hewlett Packard Enterprise, Hewlett, Juniper Networks, UTI, Southwest Airlines —, Elliott Investment Management, Hong, Reuters, JPMorgan Locations: U.S, Alibaba —, China, Hong Kong, Shanghai, Shenzhen

☆ Fact check: Donald Trump, Kamala Harris debate on ABC News
▼ + stars: | 2024-09-10 | by ( Cnn Staff | ) edition.cnn.com time to read: +18 min

CNN —Former President Donald Trump and Vice President Kamala Harris are facing off for the first time Tuesday during ABC’s presidential debate. “I had no inflation, virtually no inflation,” Trump said. Harris introduced herself by name and said, “Let’s have a good debate.” Trump responded: “Nice to see you. Have fun.” Saul Loeb/AFP/Getty Images Trump and Harris stand on stage at the start of the debate. “But understand if Donald Trump were to be elected, he will sign a national abortion ban.

Persons: Donald Trump, Kamala Harris, Harris, Donald Trump’s, Trump, Katie Lobosco, MAGA, “, ” Trump, Daniel Dale, Tami Luhby, Chip Somodevilla, he’s, FactCheck.org, Steven Cheung, Cheung, Kaanita Iyer Trump, Joe Biden, ”, gotaways, Michelle Mittelstadt, Piper Hudspeth Blackburn, David Muir, Linsey Davis, Michael Le Brecht, Alex Brandon, Doug Mills, Pat Tuttle, George Walker IV, Saul Loeb, Tristen Rouse, CNN Harris, Win McNamee, Sheena Carey, Morry Gash, Matthew Hatcher, ” Saul Loeb, Roberto Schmidt, Andrew Thomas, Robert F, Kennedy Jr, Kennedy, Jim Lo Scalzo, Anthony Scaramucci, Olivia Troye, Matt Rourke, Hannah Beier, Lilly, Evelyn Hockstein, Matt Slocum, Kenny Holston, ” Harris, Noah Weinrich, Kaanita Iyer, Feedback Trump, John Roberts, Devan Cole Trump, Sen, JD Vance, ” Vance, Michael Williams Trump, United States –, Katie Lobosco Harris, –, Mike Pence, Rather, “ Joe Biden, Ella Nilsen Trump, Elisabeth Buchwald Organizations: CNN, Trump, Center for American Progress, Fund, CAP, Peterson Institute for International Economics, Center, CNN Trump, Breitbart News, Border Patrol, Biden, Patrol, Republicans, Migration, Institute, ABC News Trump, National Constitution Center, New York Times, Bloomberg, Getty Images, Getty, Pennsylvania Convention Center, People, Philadelphia International Airport, AFP, Philadelphia City Hall, Former Trump, Reuters, ABC, Force, Democratic, Convention, Leadership, Heritage, United States Supreme, White, City, Springfield News, Sun, Springfield Police, United States, US International Trade Commission, Treasury, Consumer, Bureau of Labor Statistics Locations: Pennsylvania, Philadelphia, United Kingdom, Venezuela, United States, Nashville , Tennessee, Washington ,, Washington , DC, Milwaukee, AFP, Springfield , Ohio, “, Springfield, City, China, American

☆ Why people are taking photos of their airport trays now
▼ + stars: | 2024-09-08 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +5 min

However, the trend is ruffling more than a few feathers, due to the airport security line being one of the top places in the world where it’s imperative to avoid dilly-dallying. Let’s also not forget that with all those shoes passing through security trays, you may as well be laying your items straight out on the floor. In 2018, a European study found that airport trays are the least hygienic part of the airport, carrying more germs than toilets. So while hand sanitizer doesn’t typically feature in these airport tray photos and videos, it should probably play a key part in the aftercare. “As long as the staged glamor photos are not causing delays or issues with other passengers in the checkpoint, there are no issues.

Persons: ”, “, Louis Vuitton, yall, Let’s, Faber, Piper Taich, Gen Organizations: CNN, New York Post, TSA, Metro, Adidas Gazelles, Chelsea, Amazon, US Transport Security Administration Locations: bookshelves, “, JFK, New York, Chicago

☆ Cramer names the No. 1 underappreciated megacap to buy in the recent tech stock sell-off
▼ + stars: | 2024-09-04 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

Jim Cramer said Microsoft shares could bottom Wednesday — and out of all the megacap tech stocks, this Club name is the one to buy. Wells Fargo also highlighted Microsoft's cybersecurity business. Similar to others in the sector, Microsoft's cybersecurity business can continue to rake in major corporations as clients as the threat of hacks and breaches remains elevated. In 2023, Microsoft CEO Satya Nadella said the company's cybersecurity business had surpassed $20 billion in revenue over a 12-month period. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Wells, Jim, Wells Fargo, Bing, Satya Nadella, Wells Fargo's bullishness, Piper Sandler, Jim Cramer's, Microsoft Corporation Satya Nadella, Chalinee Thirasupa Organizations: Microsoft, Wall, CNBC, Microsoft Corporation Locations: U.S, Bangkok, Thailand

☆ Dell attempts to sell cybersecurity firm SecureWorks again, sources tell Reuters
▼ + stars: | 2024-08-29 | by ( ) www.cnbc.com time to read: +2 min

Personal computer maker Dell Technologies is again exploring a possible sale of SecureWorks , after unsuccessful earlier attempts to find a buyer for the U.S. cybersecurity firm, according to people familiar with the matter. Dell, which has shed many non-core assets in recent years, owns 79.2% of SecureWorks by holding all of the company's class B shares, according to recent filings. Dell explored a sale of SecureWorks in 2019, part of an effort to trim Dell's debt pile, Reuters reported at the time. Dell acquired SecureWorks for $612 million in 2011, before listing its shares through an initial public offering in New York in 2016. The company's shares have risen by about 46% so far this year, outperforming an 18% rise in the S&P 500 index.

Persons: Michael Dell, Morgan Stanley, Piper Sandler, Dell, outperforming Organizations: Dell Technologies, U.S, Dell, SecureWorks, Reuters Locations: , Texas, SecureWorks, Atlanta , Georgia, cyberattacks, New York

☆ Workday stock gains as software provider widens 2027 margin target
▼ + stars: | 2024-08-23 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Subscription revenue growth grew 17%. With respect to guidance, Workday is now looking for an adjusted operating margin of 25.25% in the 2025 fiscal year, compared with the 25% forecast it provided in May. In September 2023, Workday said it was targeting a 25% adjusted operating margin for fiscal year 2027 and subscription revenue growth between 17% and 19%. Deutsche Bank analysts led by Brad Zelnick increased their 12-month price target on Workday stock to $275 from $265. "The increased 30% operating margin target was the big upside surprise as it is now committed both sooner and greater than most were expecting," the analysts wrote.

Persons: Carl Eschenbach, Zane Rowe, Rowe, We're, Brad Zelnick, Piper Sandler, Jerome Powell, Carl Eschenbach didn't, Julie Biel Organizations: Deutsche Bank, Citi, Evercore ISI, Computing Fund Locations: Davos, Switzerland

☆ Traders are confident Nvidia stock will rise after earnings, according to options market
▼ + stars: | 2024-08-23 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Wall Street traders think next week's earnings report from Nvidia is likely to give the chip stock another boost, according to one interpretation of options market pricing. A Piper Sandler research note on Thursday from Benson Durham and Melissa Turner said short-term options on Nvidia look expensive, but that high cost is tilted toward options that serve as bets the stock will rise. So, expensive NVDA options in general don't connote very much investor angst heading into the release," the Piper Sandler report said. The market optimism about Nvidia extends beyond the immediate period after the earnings report, according to Piper Sandler. The Piper Sandler researchers did not take a fundamental position on Nvidia's earnings report.

Persons: Piper Sandler, Benson Durham, Melissa Turner Organizations: Nvidia, Apple, Microsoft

☆ Stocks making the biggest moves premarket: Peloton, Workday, Chewy and more
▼ + stars: | 2024-08-23 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Chewy — The pet retailer stock advanced more than 2% on an upgrade from Piper Sandler to outperform from neutral. The company also announced a $300 million stock buyback plan. The company topped earnings estimates by 9 cents a share and matched revenue estimates of $5.25 billion. Workday posted adjusted earnings per share of $1.75 on $2.09 billion in revenue. Analysts polled by LSEG had forecasted $1.65 earnings per share and revenue of $2.07 billion.

Persons: Piper Sandler, Warby Parker, Warby, Wells, Bill.com, LSEG, —, Samantha Subin, Jesse Pound, Pia Singh Organizations: —, JPMorgan, JMP Securities, UBS, BJ's Wholesale, Ross Locations: Vegas, Macau, Wells Fargo

☆ Economy isn't slowing down in a way that justifies the number of rate cuts: Apollo's Torsten Slok
▼ + stars: | 2024-08-23 | 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 EmailEconomy isn't slowing down in a way that justifies the number of rate cuts: Apollo's Torsten SlokMichael Kantrowitz, Piper Sandler chief investment strategist, and Torsten Slok, Apollo Global Management chief economist, join 'Squawk on the Street' to discuss the state of the economy, impact on the Fed's inflation fight, rate path outlook, and more.

Persons: Apollo's Torsten Slok Michael Kantrowitz, Piper Sandler, Torsten Slok Organizations: Apollo Global Management

JMP Securities upgraded Warby Parker to market outperform, calling for more than 40% upside. The financial firm upgraded shares of the streaming technology provider to buy from neutral. Analyst Michael Morris also established a 12-month price target of $75, which is approximately 21% higher than where shares closed on Thursday. Peloton stock is down 25% on the year. His price target of $20 implies upside of 44% from Thursday's close.

Persons: Warby Parker, Michael Morris, Morris, — Lisa Kailai Han, Wells, Wells Fargo, Edward Kelly, Kelly, BJ's, BJ, Lisa Kailai Han, Piper Sandler, Anna Andreeva, Andreeva, it's, Piper, Doug Anmuth, Anmuth, Nicholas Jones, Jones, Fred Imbert Organizations: CNBC, JMP Securities, JPMorgan, Guggenheim, BJ's, BJ's Wholesale, LT, Costco, CF Subs, Revenue, Warby, Warby Parker Inc Locations: ROKU, Chewy, Thursday's

☆ Nvidia will be in the spotlight next week as Wall Street wraps up a tumultuous August
▼ + stars: | 2024-08-23 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

NVDA YTD mountain Nvidia Wall Street is bullish heading into Nvidia's earnings results next week, figuring any hiccups to its next generation AI chips does little to dim the earnings potential of a company that essentially has a monopoly on the market. Economists polled by FactSet anticipate PCE to show increases of 0.2% month on month and 2.6% from the year-earlier period. Wall Street anticipates that stocks could go higher from here, though the road from now to the end of the year could be bumpy. Other notable earnings results include tech names Salesforce and CrowdStrike, as well as consumer names such as Campbell Soup, Dollar General and Ulta Beauty. Earnings: Nvidia , Bath & Body Works , J. M. Smucker , Salesforce , CrowdStrike , NetApp , HP Thursday Aug. 29 8:30 a.m.

Persons: Nvidia's, chipmaker, they've, Harsh Kumar, Piper Sandler, Blackwell, Jensen Huang, Jim Cramer, Kumar, Louis Navellier, Jerome Powell, Jackson, Powell, FactSet, David Miller, Miller, Kamala Harris, Donald Trump, He's, Campbell, Lululemon Organizations: Nvidia, Blackwell, Navellier, Associates, Federal Reserve, PCE, Nasdaq, Dow Jones, U.S, Catalyst Funds, Ulta, Dallas Fed, Richmond Fed, Body, HP, Autodesk, PCE Deflator, Chicago PMI Locations: Russia, Ukraine, Chicago, Michigan

☆ 10 things to watch in the stock market Friday including big earnings movers
▼ + stars: | 2024-08-23 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Citigroup opened a negative catalyst watch on Ulta Beauty and lowered its price target to $375 in anticipation of an earnings miss next week. Club holding TJX Companies ' quarterly results topped expectations earlier this week, and it also lifted its guidance. Uber has a similar partnership with Club holding Alphabet 's Waymo in Phoenix. 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's, Jackson, Piper Sandler, Chewy, Wynn, Locker, Mary Dillon, Uber, Wells, Jim Cramer's, Jim Cramer, Jim Organizations: Federal, Nasdaq, Dow, Citigroup, UBS, Las Vegas Sands, Wynn Resorts, Ross, TJX Companies, Burlington Stores, Nike, Piper, Cruise, Club, BJ's Wholesale, Jim Cramer's Charitable, CNBC Locations: Macau, Las Vegas, Cava, Wells Fargo, Phoenix

☆ Here are Friday's biggest analyst calls: Nvidia, Peloton, Chewy, Uber, Burlington Stores, BJ's Wholesale Club, Roku and more
▼ + stars: | 2024-08-23 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

JPMorgan downgrades Peloton to neutral from overweight "Following Thursday's +35% appreciation (vs. SPX -1%) we are moving from Overweight to Neutral rated as PTON's return to growth in CF Subs & Revenue remains challenging, & visibility is limited given secular & macro pressures." Wells Fargo reiterates Burlington Stores as top pick "We reiterate BURL as our "Top Pick" and see a highly visible growth/margin bull case unfolding in real time. The combination of 1) comp acceleration and 2) margin unlocks should be powerful, and we raise 2Q/FY numbers above Street. Wells Fargo upgrades BJ's Wholesale Club to overweight from equal weight "Margin investment is the right strategic shift despite n/t pain, and supplements robust member gains. Valuation is tricky, but comp ramp/return to algo in '25 point to upside."

Persons: Piper Sandler, Warby Parker, Uber, Nomura, Wells, BURL, Goldman Sachs, Bill.com, Guggenheim Organizations: Nvidia, RBC, Westlake, JPMorgan, CF Subs, Revenue, Bank of America, Waymo, Tesla, Burlington Stores, Wholesale

☆ Stocks making the biggest moves midday: Cava, Intuit, Ross Stores, Workday and more
▼ + stars: | 2024-08-23 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Cava Group — Shares of the fast-casual restaurant chain popped more than 21% on stronger-than-expected quarterly results . Cava posted earnings of 17 cents per share on $233 million in revenue in the fiscal second quarter. That topped LSEG estimates calling for earnings per share of 13 cents and revenue of $220 million. Ross Stores — The off-price retailer's stock price added 1.4% after the company beat earnings estimates by 9 cents a share in the second quarter. Ross matched revenue estimates of $5.25 billion, per LSEG.

Persons: Cava, Warby Parker, Nicholas Jones, Goldman Sachs, Bill.com, Ross, Tesla, Jerome Powell's, Piper Sandler, — CNBC's Hakyung Kim, Jesse Pound, Brian Evans, Samantha Subin, Lisa Kailai Han, Michelle Fox Organizations: Intuit —, Intuit, FactSet, JMP Securities, Warby's, UBS, Ross Stores, LSEG, Nvidia, Federal, Investors, VanEck Semiconductor Locations: Cava, Vegas, Macau

☆ Harris and Walz to take bus tour through Pennsylvania ahead of Democratic convention
▼ + stars: | 2024-08-14 | by ( Eva Mckend | Piper Hudspethblackburn | ) edition.cnn.com time to read: +2 min

Tim Walz, will roll through Pennsylvania on a bus tour Sunday, dropping in on the crucial battleground state just days before the Democratic National Convention in Chicago. The pair’s first rally shortly after Walz was announced as Harris’ running mate was in Philadelphia, the commonwealth’s largest city, and they embarked on a dayslong tour of battleground states shortly after. Sunday’s tour, which is scheduled to begin in Pittsburgh, will mark the first time that Harris, Walz and their respective spouses – second gentleman Doug Emhoff and Minnesota first lady Gwen Walz – will appear on the campaign trail together. The campaign has 36 coordinated offices and 300 staffers in Pennsylvania, which Harris has already visited seven times this year. Seven battleground states have been the focus of more than $212 million in ad spending over that stretch, with Pennsylvania accounting for $70.6 million of that total.

Persons: Kamala Harris, Tim Walz, It’s, Harris, Walz, –, Doug Emhoff, Gwen Walz –, Donald Trump, ’, Trump, Joe Biden, Biden, Kayla Tausche, David Wright Organizations: CNN, Minnesota Gov, Democratic National Convention, Pennsylvania, Electoral, Keystone State, Democratic, Republicans Locations: Pennsylvania, Chicago, Philadelphia, Pittsburgh, Minnesota, Milwaukee, Wisconsin, Michigan, Wilkes, Barre , Pennsylvania, Butler, Pittsburgh . Pennsylvania

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