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☆ UK’s Motorway takes eBay approach for consumers to sell cars to dealers
▼ + stars: | 2023-10-05 | by ( Nick Carey | ) www.reuters.com time to read: +4 min

EBay also sells cars in the UK, though its own marketplace consists of consumers or dealers selling to consumers. The pandemic "acted as a massive accelerant" for Motorway because physical auctions were closed for months and dealers needed access to cars, Leathes said. In 2022, its auctions doubled to 1.7 billion pounds ($2.06 billion). That should double again this year, giving Motorway around a 5% share in a UK used-car market worth 80 billion pounds, Leathes said. Dealers can now use "wallets" for multiple transactions and Motorway now picks up around 30% of the cars it sells and delivers them to dealers.

Persons: Tom Leathes, Leathes, Nick Templeton, Templeton, Lewis Jent, Nick Carey, Nick Zieminski Organizations: eBay, Reuters, EBay, Index Ventures, Growth, BMW I Ventures, BMW, Dealers, Tesla, Thomson Locations: Britain, U.S, Leathes, CarShop

☆ U.S. stock prices near level for 'mechanical selling' - Nomura's McElligott
▼ + stars: | 2023-09-21 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

[1/2] Options floor brokers work on the floor of the NYSE American, formerly known as the American Stock Exchange (AMEX), at New York Stock Exchange (NYSE) in New York City, U.S., July 11, 2023. On Wednesday, the S&P 500 (.SPX) dropped to 4,401.38, near a a four-week low, putting the index on the verge of setting off a deluge of "mechanical selling", or stock selling by options dealers and certain trend-following investors, including commodity trading advisors (CTAs), Nomura’s McElligott said. The selloff also pushed the Cboe Volatility Index (.VIX) - an options-based gauge of expected stock market gyrations - to its highest in nearly four weeks. A drop below the 4,409 level for the S&P 500 triggers selling by CTAs with an estimated $12.3 billion of stock futures up for sale in aggregate, McElligott estimates. If investors react to the latest drop in the market by selling volatility or by taking profits on existing hedges it could help stifle the selling pressure on the market, he said.

Persons: Brendan McDermid, Nomura, Charlie McElligott, Nomura’s McElligott, McElligott, Saqib Iqbal Ahmed, Ira Iosebashvili, David Gregorio Our Organizations: NYSE, American Stock Exchange, New York Stock Exchange, REUTERS, Federal Reserve, Thomson, & $ Locations: New York City, U.S, Charlie McElligott .

☆ AI could be biggest growth opportunity for data center stocks since the cloud, says Bank of America. Two picks to play it
▼ + stars: | 2023-09-07 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

The rise of artificial intelligence could revolutionize data center stocks, according to Bank of America. Analyst David Barden wrote in a Thursday note that "AI could evolve to be the largest data center growth opportunity since the cloud," and added that growing demand for computing will underpin the expansion. Barden expects that interest will soon spill over to data center firms. To play the growth of AI in the data center segment, Barden pointed toward Digital Realty Trust and Equinix . Shares of Digital Realty and Equinix have soared roughly 50% and 13% since Nvidia's May 24 earnings report.

Persons: David Barden, Barden, " Barden, Equinix, — CNBC's Michael Bloom Organizations: Bank of America, Digital Realty Trust, Digital Realty, Nvidia's, Digital

☆ Google is about to turn 25. Its CEO thinks AI is the biggest tech development that we'll see in our lifetimes.
▼ + stars: | 2023-09-06 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Google is about to celebrate its 25th birthday but all its CEO can think about is AI. CEO Sundar Pichai said in a blogpost that AI "may be bigger than the internet itself." Google has focused more on AI after ChatGPT threatened to rock its core business earlier this year. But its CEO can't help but think about how AI is about to be a much bigger deal. In the Tuesday blogpost, Pichai said AI represented a "fundamental rewiring of technology and an incredible accelerant of human ingenuity."

Persons: Sundar Pichai, Larry Page, Sergey Brin, OpenAI's ChatGPT, Pichai, Brin, Bard Organizations: Google, Service, London Locations: Wall, Silicon

Prosecutors allege the defendants are “militant anarchists” who have supported a violent movement that prosecutors trace to the widespread 2020 racial justice protests. Those events preceded the public announcement of the proposed training center by months. The “Stop Cop City” effort has gone on for more than two years and at times has veered into vandalism and violence. The majority of those indicted were already facing charges stemming from their alleged involvement in the movement. Political Cartoons View All 1142 ImagesActivists leading an ongoing referendum effort against the project immediately condemned the charges, calling them “anti-democratic.”

Persons: Chris Carr, ”, George Floyd, Rayshard Brooks, Molotov Organizations: ATLANTA, Republican, Prosecutors, Fulton Locations: Georgia, Atlanta, Minneapolis, Fulton County

☆ Here are Friday's biggest analyst calls: Amazon, Netflix, Nio, Coinbase, Apple, Chevron, BJ's, Carvana
▼ + stars: | 2023-08-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Friday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating on shares of Apple. JPMorgan reiterates Netflix as overweight JPMorgan said it's standing by its overweight rating on Netflix shares. Morgan Stanley upgrades DigitalOcean to equal weight from underweight Morgan Stanley said in its upgrade of the software company that its thesis on DigitalOcean has largely played out. Morgan Stanley reiterates Carvana as underweight Morgan Stanley said the company still has "alot to prove." Wells Fargo reiterates Chevron as overweight Wells said it's standing by its overweight rating on shares of Chevron.

Persons: Morgan Stanley, Apple, it's, hasn't, pushback we've, Mizuho, Coinbase, Redburn, DigitalOcean, Nio, Carvana, Wells, Wells Fargo, BJ, JPMorgan, Krispy Kreme, Krispy, Stephens, Wolfe downgrades Stanley Black, Decker, Wolfe, Argus Organizations: Apple, iPhone, Services, JPMorgan, Netflix, ARM, Walmart, Credit Suisse, HOOD, " Bank of America, Oncology, Bank of America, Citi, Cisco Citi, Cisco, Arista, Juniper, Enterprise, Deutsche Bank, Deutsche, Chevron, FedEx, Garden Entertainment Locations: Coinbase, 2Q, HOOD

☆ Here are Monday's biggest analyst calls: Apple, Amazon, Cinemark, Nvidia, Meta, Berkshire Hathaway & more
▼ + stars: | 2023-08-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Monday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's sticking with its overweight rating after Apple's quarterly 10-Q report. Morgan Stanley upgrades Laureate to overweight from equal weight Morgan Stanley said the education company is a beneficiary of nearshoring. Morgan Stanley reiterates Palo Alto Networks as overweight Morgan Stanley said the company has a "differentiated" and "disruptive" platform. " UBS reiterates Berkshire Hathaway as buy UBS said it's standing by its buy rating on shares of Berkshire after its earnings report Saturday. Morgan Stanley reiterates Cinemark as overweight Morgan Stanley said it's standing by its overweight rating on Cinemark as the success of "Barbie" and "Oppenheimer" has "squashed" the theatrical bear case.

Persons: Morgan Stanley, Apple, DA Davidson, Andy Jassy, Wells, Holley, it's, Raymond James, Charles Schwab, Schwab, EchoStar, Guggenheim, Berkshire Hathaway, Cinemark, Oppenheimer, Truist, Piper Sandler, Piper, MNST, Wright Organizations: UBS, Meta, Facebook, Bank of America, Nvidia, U.S ., Networks, Alto Networks, United Airlines, Berkshire, Comcast, CNBC, Monster Beverage Locations: WhatsApp, nearshoring, United, Berkshire, NBCUniversal

Former U.S. President and Republican presidential candidate Donald Trump speaks during a campaign rally in Erie, Pennsylvania, U.S., July 29, 2023. Less than two hours after news of the charges broke, Trump's campaign blasted out an email to supporters seeking donations, titled: BREAKING: PRESIDENT TRUMP INDICTED. In the week following the indictment, the campaign sent out 34 fundraising emails directly referencing the criminal charges, according to a Reuters review of campaign communications. Following the indictment, Trump's support rose to 49% in an April 21-24 survey while DeSantis slipped to 23%. He raised much less money in the days after his second indictment, according to campaign finance disclosures.

Persons: Donald Trump, Lindsay DeDario, Ron DeSantis, Trump, speechwriters Ross Worthington, Vince Haley, Haley didn't, grapples, Attorney Alvin Bragg, TRUMP, Chris Jackson, DeSantis, Bragg, DANIELS, reimbursements, Michael Cohen, Stormy Daniels, reimbursing Cohen, Daniels, Trump's, Adam Geller, Republican pollster, Geller, Nathan Layne, Karen Freifeld, Tim Reid, Jason Lange, Ross Colvin, Pravin Organizations: U.S, Republican, REUTERS, White, Conservative Political, Trump, Reuters, Worthington, Manhattan, Attorney, Republicans, Prosecutors, Manhattan District, Thomson Locations: Erie , Pennsylvania, U.S, Maryland, York, Georgia, East Palestine , Ohio, Florida, Manhattan, Miami, Bedminster , New Jersey

☆ Elon Musk has a plan to create a hub on X for users to trade stocks, report says
▼ + stars: | 2023-08-03 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Elon Musk's X app is looking to build a stock-trading hub within the platform, according to Semafor. But Musk said on X: "No work is being done on this to the best of my knowledge." Still, considerations for how to turn X into a trading hub would not be far off prior ideas for the platform. In April, Twitter also entered into a partnership with eToro to allow users to trade stocks and other assets, by giving them access to eToro's platform. Musk has had plans to create a go-to app for a variety of services, and in October, he tweeted, "Buying Twitter is an accelerant to creating X, the everything app."

Persons: Elon, Musk, Semafor, Tencent's Organizations: X, Service, Privacy, Twitter, eToro, PayPal Locations: Wall, Silicon, China

☆ X social media looking to build a trading hub inside app, Semafor reports
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

'X' logo is seen on the top of the headquarters of the messaging platform X, formerly known as Twitter, in downtown San Francisco, California, U.S., July 30, 2023. REUTERS/Carlos Barria/File PhotoAug 3 (Reuters) - X social media platform, formerly known as Twitter, is seeking a financial data giant to build a trading hub inside the app, Semafor reported on Thursday, citing people familiar with the matter and plan requests. In a post on the X platform, its owner Elon Musk said he was not aware of any work being done in this area. loadingLast year, Musk said he bought Twitter as an "accelerant to creating X", which he described as an "everything app" and likened it to China's super-app WeChat. Musk last month rebranded the social media site and changed Twitter's widely recognised blue bird to "X".

Persons: Carlos Barria, Elon Musk, Musk, Chavi Mehta, Tanya Jain, Yuvraj Malik, Arun Koyyur Organizations: REUTERS, Twitter, Thomson Locations: San Francisco , California, U.S, Bengaluru

☆ Elon Musk says dark mode will be Twitter's default option because it's 'better in every way'
▼ + stars: | 2023-07-28 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Elon Musk says he's making dark mode Twitter's default option. He first said he planned to scrap light mode because the dark version was "better in every way." The billionaire later backtracked after users asked him to keep the light mode option. The Tesla boss initially announced plans to scrap light mode altogether, saying that the dark version was "better in every way," but then backtracked by saying dark mode would simply become the new default. The comments of the original tweets were flooded with people pleading the case for Twitter's light mode.

Persons: Elon Musk, Elon Musk isn't, Fortune Organizations: Twitter, Bloomberg

☆ Elon Musk says dark mode will be Twitter's default setting because it's 'better in every way'
▼ + stars: | 2023-07-28 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Elon Musk told users he's making dark mode Twitter's default setting. He first said he planned to scrap light mode because the dark version was "better in every way." The Tesla boss initially announced plans to scrap light mode altogether, saying that the dark version was "better in every way," but then backtracked by saying dark mode would simply become the new default. The comments of the original tweets were flooded with people pleading the case for Twitter's light mode. "Dark mode is much harder to read outside in daylight," one user said.

Persons: Elon Musk, Elon Musk isn't, Fortune Organizations: Twitter, Bloomberg

☆ Elon Musk's X rebrand reignites his goal to turn Twitter into an app like China's WeChat
▼ + stars: | 2023-07-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

In October, the billionaire said buying Twitter was an "accelerant to creating X, the everything app," without providing further details. Musk called WeChat 'great'Super apps refer to a type of app that allow users to carry out multiple functions without having to leave the app. The biggest super app in the world is called WeChat which is run by Chinese technology giant Tencent and has over 1.3 billion users. While China pioneered the super app, the idea has taken off in other parts of Asia. Musk has likely taken inspiration from WeChat, an app he called "great" last year.

Persons: Elon, Harun Ozalp, Elon Musk, China's WeChat, Musk, Linda Yaccarino, WeChat Organizations: HK, Anadolu Agency, Getty, Twitter, Google Locations: China, Asia, Singapore

☆ Opinion | Susan Faludi Thinks ‘Barbie’ Is a Delight. She Also Thinks It’s About Abortion.
▼ + stars: | 2023-07-25 | by ( Jessica Bennett | ) www.nytimes.com time to read: +2 min

Susan Faludi suggested we show up to the “Barbie” movie in a pink Corvette, but unfortunately, the only car available was a pickup truck. Even her origin story: She was based on a sex doll for men, but somehow marketed to mothers for their daughters. Barbie has been a protest slogan (“I am not your Barbie”), a bimbo (remember “Math class is tough” Barbie? But it also had a director — Greta Gerwig — with indie street cred, and early reviews focused on the film’s subversiveness. Ms. Gerwig, it seemed, had managed to make Barbie satisfyingly self-aware, likable and mockable; she called out the hypocrisy of the manufacturer — Mattel — while getting its blessing on the project.

Persons: Susan Faludi, Barbie, “ Barbie, ” I’d, Faludi, —, ”, — Greta Gerwig, Mattel Organizations: Toyota Tacoma, Pulitzer

☆ Twitter’s rebrand is the next stage in Elon Musk’s vision for the company. But does anyone want it?
▼ + stars: | 2023-07-25 | by ( Clare Duffy | ) edition.cnn.com time to read: +7 min

When Musk bought Twitter late last year, he laid out a vision for an “everything” app called X, where users could communicate, shop, consume entertainment and more. Musk — who bought Twitter with a company called X Corp. — tweeted on Sunday that X.com now redirects to Twitter. Musk even told followers that tweets should instead be called “x’s.”On Sunday, CEO Linda Yaccarino seemed to confirm Musk’s vision for the company. Elon Musk has officially rebranded Twitter as "X," as he seeks to turn the platform into an "everything" app. And until Musk rolls out significant changes to the platform, observers of the company say ditching Twitter’s well-known brand is a risky move.

Persons: New York CNN — Elon Musk’s, Musk, — Musk, “, —, It’s, ” Mike Proulx, Forrester, Proulx, ”, Linda Yaccarino, ” Yaccarino, Elon Musk, Jonathan Brady, Walter Isaacson, texted Isaacson, ” “, ” Musk, he’s, WeChat, Deloitte, Instagram, Joshua White Organizations: New, New York CNN, Twitter, PayPal, Musk —, X Corp, SpaceX, Facebook, Vanderbilt University Locations: New York, China, Arizona, Michigan

☆ Musk explains why he's rebranding Twitter to X: It's not just a name change
▼ + stars: | 2023-07-25 | by ( Lauren Feiner | ) www.cnbc.com time to read: +1 min

Elon Musk recently explained why he decided to rebrand Twitter to X and noted that it's more than just a name change. "Twitter was acquired by X Corp both to ensure freedom of speech and as an accelerant for X, the everything app. This is not simply a company renaming itself, but doing the same thing," Musk explained in a post Monday night. Musk recently hired former NBCUniversal advertising executive Linda Yaccarino as CEO, seen as a move to help reassure advertisers. WATCH: Elon Musk kills Twitter name for 'X' super app

Persons: Elon Musk, Musk, it's, Linda Yaccarino, Yaccarino Organizations: Twitter, X Corp, CNBC, YouTube

☆ Elon Musk wants everyone to conduct their entire 'financial world' on X as he doubles down on his vision for an 'everything app'
▼ + stars: | 2023-07-25 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +2 min

Elon Musk's grand ambition for X: Make it the place you manage finances and make payments. The billionaire said X users would be able to conduct their "entire financial world" on the app. The shake-up comes as Musk aims to see off a threat from Mark Zuckerberg's Threads. Elon Musk is preparing to transform X, formerly known as Twitter, into a social-media service where users can manage their "entire financial world" as part of his vision for an "everything app." Musk added that in the months to come, new features would be added to X that would give users "the ability to conduct your entire financial world."

Persons: Elon Musk's, Mark Zuckerberg's, Elon Musk, It's, Musk, Twitter, Esther Crawford, Mark Zuckerberg

☆ Elon Musk pushed for PayPal's website to be rebranded as X.com more than 20 years ago, but focus groups reportedly thought it sounded like a porn website
▼ + stars: | 2023-07-24 | by ( Gabriel Rivera | ) www.businessinsider.com time to read: +3 min

Elon Musk rebranded Twitter as X over the weekend — a name that has long been one of his favorites. But focus groups thought the name sounded "seedy," according to Musk biographer Walter Isaacson. Musk wanted the company to be rebranded either as X.com or X-PayPal, but his fellow executives disagreed. Several of Musk's brands among his slate of companies include the letter X, including SpaceX and the more recent company xAI. Over the weekend, he changed the company's logo from the iconic blue bird to a white letter X against a black backdrop.

Persons: Walter Isaacson, Elon Musk, Musk, Peter Thiel, Max Levchin, Max Chafkin, Chafkin, Isaacson Organizations: Elon, PayPal, Service, Twitter, musing, SpaceX Locations: Wall, Silicon

☆ Musk risks even more damage to Twitter's business as the messaging app changes name to X
▼ + stars: | 2023-07-24 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +5 min

Elon Musk announced that there will be a rebranding of Twitter soon, and speculation points to the implementation of X.Elon Musk has long been enamored with the letter X. Musk had already converted Twitter's corporate name to X Corp, which itself is a subsidiary of X Holding Corp, as revealed in an April court filing. Musk's desire to turn X into a super app requires "time, money and people," which Twitter "no longer has," said Proulx. "Twitter's rebrand is a reminder that Elon Musk, not Threads or any other app, is and has always been the most likely 'Twitter killer,'" Enberg wrote. WATCH: Elon Musk wouldn't be who he is without 'demon mode' and his drive.

Persons: Elon Musk, that's, China's, Mike Proulx, Musk, " Proulx, didn't, It's, X.com, adieu, Linda Yaccarino, Proulx, Ralph Schackart, William Blair, Jasmine Enberg, Enberg, Elon, wouldn't Organizations: Twitter, Forrester, X Corp, X Holding, SpaceX, PayPal, Facebook, Google, CNBC, Insider Intelligence

☆ Elon Musk plans to rebrand Twitter as 'X' — an idea that harkens back to the CEO's early days when he was ousted from PayPal
▼ + stars: | 2023-07-24 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

Elon Musk announced Saturday that he plans to rebrand Twitter and change the bird logo to 'X.' Musk previously wanted X to be the name of a banking services site now known as PayPal. Musk said a new "interim" X logo will go live Sunday. Elon Musk in Palo Alto, California, on August 7, 2000. According to Ashlee Vance's biography "Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future," almost everyone in the company preferred the name PayPal.

Persons: Elon Musk, Musk, Elon, Pauline Lubens, Julie Anderson Ankenbrandt, Ankenbrandt, x.com, X.com, Peter Thiel, Max Levchin, Musk's, Thiel, Ashlee Vance's Organizations: Twitter, PayPal, MediaNews, Mercury, Getty, Elon, SpaceX, X Corp Locations: Silicon Valley, Palo Alto , California, Palo Alto, Nevada

☆ Tesla's Cybertruck is finally starting production, 2 years behind schedule. Here are 6 other projects Elon Musk promised to deliver by now.
▼ + stars: | 2023-07-17 | by ( Sebastian Cahill | ) www.businessinsider.com time to read: +6 min

Tesla's Cybertruck is finally beginning production two years behind schedule. Tesla CEO Elon Musk has been known to make lofty promises that go undelivered for years at a time. In 2017, Inverse reported, Musk expanded the promise, assuring buyers that it would be just two more years before self-driving Teslas could be used to travel cross-country while passengers sleep. An 'everything' social media app, XIn late 2022, Musk tweeted that his purchase of Twitter was an "accelerant" to the creation of 'X,' the "everything app." According to the same CNBC article, in its most productive year, 2022, Tesla only installed an average of 21 solar system installations per week.

Persons: Elon Musk, —, Tesla, Musk, Musk's, Will Organizations: Tesla, CNBC, Boring Company, SpaceX, Twitter, University of Cincinnati Locations: Giga , Texas, New York, Philadelphia, Baltimore, Washington, DC, Los Angeles, Southern California

☆ Mayor says home ‘rammed’ and set on fire as France detains hundreds more protesters
▼ + stars: | 2023-07-02 | by ( Jake Kwon Heather Chen Xiaofei Xu Martin Goillandeau Alex Hardie Alex Stambaugh | Jake Kwon | Heather Chen | ) edition.cnn.com time to read: +4 min

He said the mayor’s wife and two children, aged 5 and 7, fled through the back garden. While running away, the mayor’s wife hurt her shin which “appears to be broken,” according to the prosecutor. His mother, Mounia, told television station France 5 on Friday that she blamed only the officer who shot her son for his death. Hundreds detainedWhile the French government has deployed security forces and riot police across the country, the unrest continued with another night of protests. More than 700 people were detained across France overnight, according to a provisional tally from the Interior Ministry.

Persons: ”, Vincent Jeanbrun, “, ” Jeanbrun, Stéphane Hardouin, Hardouin, Nahel, Mounia, Gérald Darmanin Organizations: CNN, France, Interior Ministry, China’s Locations: Paris, Jeanbrun’s, France, Nanterre, China, Marseille

☆ Review: A Jew and 16 ‘Nerf Nazis’ Meet Cute in ‘Just for Us’
▼ + stars: | 2023-06-26 | by ( Jesse Green | ) www.nytimes.com time to read: +2 min

It may be too much to ask a human hummingbird like Alex Edelman to try to stick to the subject. In “Just for Us,” his three-jokes-per-minute one-man show, he zooms from punchline to punchline almost as fast as he caroms around the stage of the Hudson Theater. (At 34, he’s part of what he calls the overmedicated ADHD generation.) And even though he’s telling a story about white supremacy, you are. Growing up a “proudly and emphatically” Orthodox Jew in “this really racist part of Boston called Boston,” he clocked the wariness between races but also within them.

Persons: Alex Edelman, ”, Ibsen, —, it’s, Edelman, Jason Zinoman, Jackie Mason, he’d Organizations: Hudson Theater, Broadway, Twitter Locations: London, Edinburgh, Washington, Boston, Queens

☆ Adobe CEO says AI will won't replace human ingenuity, it'll augment it
▼ + stars: | 2023-06-15 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Adobe CEO Shantanu Narayen told CNBC's Jim Cramer that generative artificial intelligence will augment humans' ingenuity, not replace it. Adobe's Firefly software makes heavy use of generative AI, which users can employ in the company's popular suite of programs like Photoshop and Illustrator. Narayen said the software will increase productivity and give smaller businesses the chance to more easily develop their ideas. Narayen added that Firefly is integrated with the company's free software, Adobe Express. The company is fresh off a successful quarter, reporting $4.82 billion in revenue, exceeding estimates of $4.77 billion.

Persons: Shantanu Narayen, CNBC's Jim Cramer, Narayen, I've Organizations: Adobe Express, Adobe

☆ Morgan Stanley says this retailer is set up for an 'inflection point'
▼ + stars: | 2023-06-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Urban Outfitters could see big gains from here as an "inflection point" draws near, according to Morgan Stanley. Analyst Alex Straton upgraded the retailer to overweight from equal weight, saying that its low valuation relative to peers creates an attractive risk-reward balance to the upside. Given this setup, Straton lifted her price target to $41 from $27 a share, implying 27% upside from Monday's close. But key to this potential re-rating is a cooperative inflection at its Anthropologie brand. On the valuation front, Straton noted that shares look cheap relative to peers at 11 times forward price-to-earnings and a 20% discount to historical averages.

Persons: Morgan Stanley, Alex Straton, oppty, Straton, CNBC's Michael Bloom Locations: Capri

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