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Persons: Dow Jones, laurie
In a recent note to clients, Kantrowitz highlighted unemployment claims data leading up to the Great Recession. But looking at the revised data, a clearer trend starts in September of 2007, he said. Looking at prior yield curve inversions, it's taken more than 12 months for jobless claims to start to meaningfully trend upward. Piper SandlerAnother indicator that tells Kantrowitz that jobless claims are going to start increase is — interestingly enough — furniture sales. For example, Bank of America and JPMorgan strategists both walked back their 2023 recession calls earlier this year.
Persons: Michael Kantrowitz, Piper Sandler, it's, Kantrowitz, there's, he's, Jeremy Grantham, Gary Shilling Organizations: Wall Street, The Conference Board, RBC, Bank of America, JPMorgan
Uncertainty reigns, but Wall Street analysts named a wide range of stocks this week that they believe are battle-tested buying opportunities. They include: Mattel , CBOE , Marsh & McLennan, Warner Music Group and O'Reilly Automotive. CBOE "A Strong Defensive Play In Uncertain Times," Piper Sandler analyst Patrick Moley headlined a report earlier this week devoted to CBOE. Warner Music Group Warner Music shares are down 7.5% this year, but investors should buy the dip, according to Deutsche Bank. Marsh & McLennan — Deutsche Bank, buy rating "A Defensive Stock with Growth Characteristics.
Persons: Piper Sandler, Patrick Moley, Moley, Piper, CBOE, Ben Black, Black, Marsh, McLennan, Cave, Montazeri, O'Reilly, Mattel, Morgan Stanley, Read Organizations: Street, CNBC, Mattel, McLennan, Warner Music Group, O'Reilly Automotive, Warner Music Group Warner Music, Deutsche Bank, Warner Music, Marsh, Deutsche, MMC, — Citi, McLennan — Deutsche Bank, Disney Locations: Marsh, 4Q23
Medical device stocks of all kinds were pummeled over the past week as investors tried to calculate the ripple effects of new weight loss drugs. While the use of the GLP-1 drugs to treat obesity is still very limited at this point, it is expected to soar to a $100 billion market or more, by some estimates. Judging by the momentum in the stocks, investors have been betting that as people lose weight, there will be a decline in knee replacement surgery. A case for more knee surgery? Based on Truist's polling of 50 hospital administrators, the analyst expects the third quarter will show a slowing pace of knee replacement surgeries compared to the first half of 2023.
Persons: We've, Bill Sutherland, Piper Sandler, Matt O'Brien, Stryker, Eli Lilly's Mounjaro, O'Brien, Richard Newitter, Newitter, Benchmark's Sutherland, Kaiser, Sutherland, — CNBC's Michael Bloom Organizations: American College of, Nordisk's Ozempic, Stryker, Surgery Partners, Permanente, Tenet Healthcare, Partners Locations: U.S, GLP
She also appeared in several acclaimed roles on television and the stage, including in David Lynch’s “Twin Peaks” in the 1990s as the villainous Catherine Martell. She moved to New York, where she found the roles she was seeking in theater and live television drama. She married film critic Joseph Morgenstern, welcomed a daughter, Ann Grace, and moved to a farmhouse in Woodstock, New York. “Carrie” became a box-office smash, launching a craze for movies about teenagers in jeopardy, and Spacek and Laurie were both nominated for Academy Awards. Associated Press writer Hannah Fingerhut contributed from Des Moines, Iowa.
Persons: Piper Laurie, Oscar, Laurie, Marion Rosenberg, ” Laurie, Rosetta Jacobs, Ronald Reagan, Rock Hudson, Tony Curtis, Stephen King’s, Carrie, , David Lynch’s, Catherine Martell, “ Louisa, Francis, “ Francis Goes, Curtis, Who, Ali Baba ”, Johnny Dark, Paul Newman’s, Joseph Morgenstern, Ann Grace, , Sen, George McGovern’s, Brian De Palma, Sissy Spacek, “ Carrie, De Palma, Carrie ”, Spacek, Frasier ”, George Clooney’s, ” ___ Bob Thomas, Hannah Fingerhut Organizations: Associated Press, Universal, International, Ccivil Rights, New York Times Locations: Los Angeles, Hollywood, , New York, Woodstock , New York, Vietnam, Des Moines , Iowa
Teens love Starbucks for these 4 reasons
  + stars: | 2023-10-12 | by ( Grace Dean | ) www.businessinsider.com   time to read: +4 min
American teens have an enduring love for Starbucks. The coffee chain has consistently ranked high in a semiannual survey of teens' favorite brands. It offers four things that teens love: a place to hang, cold coffee, customization, and mobile ordering. "Starbucks gaining slightly among upper income and all teens points to its grasp on teen consumer trends." Starbucks is notably more popular among wealthy teens, of which 16% ranked it as their favorite, but 12% of average-income teens also told Piper Sandler it was their preferred restaurant chain.
Persons: , Piper Sandler, Brian Mullan, it's, Brady Brewer, Brewer Organizations: Starbucks, Service
It's even tougher to buy a home right now than it was during the peak of the mid-2000s housing bubble. For one, the labor market remains very strong, meaning demand will be supported — if people still have jobs, they still have money coming in to save for a home. Goldman SachsIn the Great Recession, rising unemployment hurt housing demand, bringing down home prices. Another reason Karoui thinks things are different today is what's happened in the adjustable-rate mortgage market. During the Great Recession, for example, unemployment stayed around current levels for several more months following Treasury yield curve inversion before rising meaningfully.
Persons: Goldman Sachs, Lotfi Karoui, Karoui, Goldman, Jan Hatzius, Piper, Michael Kantrowitz Organizations: Wall, Conference, Equity
How GLP-1 drugs work Sorting through the facts reveals some likely winners and losers. LLY YTD mountain Eli Lilly shares year to date performance It is still early days for GLP-1 medications. Many have seen the rise of GLP-1 drugs as a threat to the medical device industry. Also, not all patients are able to tolerate GLP-1 drugs, which can cause side effects such as nausea. Among other medtech stocks, Plovanic sees GLP-1 drugs as an "incremental positive" for Dexcom, which makes continuous glucose monitors (CGMs), but an "incremental negative" for insulin pump makers like Insulet.
Persons: Insulet, Medtronic, Dexcom, BAX, NASH, Eli Lilly, Peter Verdult, Lilly, Eli Lilly aren't, Piper Sandler, Wegovy, Yasmeen Rahimi, Robbie Marcus, Marcus, hasn't, Baxter, David Low doesn't, William Plovanic, Craig Wong, Pan, Plovanic, Matt O'Brien, O'Brien, Rippling, Simeon Gutman, Morgan Stanley, Gutman, — CNBC's Michael Bloom Organizations: Novo Nordisk, Baxter International, Baxter, GLP, Citi, Novo, Bank of America, Viking Therapeutics, Pharmaceuticals, Pfizer, Amgen, Companies, Fisher, Reuters, Inspire, Systems, JPMorgan, RBC Capital, Walmart, underperformance Locations: GLP, U.S, DaVita, ResMed
Banks have suffered as interest rates linger at higher levels for longer, making the cost of borrowing money more expensive. Investors such as Neuberger Berman's Steve Eisman aren't optimistic about the sector either heading into earnings season due to higher capital requirements . Earnings per share have been growing at least 5% on average a year for the past three years, showing earnings consistency. Average analyst consensus forecasts call for nearly 13% upside from Wednesday's $122.74 close. JPMorgan also made the list, with the average analyst price target calling for close to 16% upside.
Persons: Banks, Neuberger, Steve Eisman, KeyCorp, Piper Sandler, Ebrahim Poonawala Organizations: CNBC Pro, PNC, Bank of America, JPMorgan Locations: Cleveland, Pittsburgh
Here are Wednesday's biggest calls on Wall Street on Wednesday: Goldman Sachs upgrades Shoals to buy from neutral Goldman Sachs said the solar company is very attractive. Morgan Stanley upgrades Cava to overweight from neutral Morgan Stanley said it's gaining confidence in the restaurant chain. JPMorgan upgrades CSX to overweight from neutral JPMorgan said rail concerns have already played out. JPMorgan upgrades Iris Energy to overweight from neutral JPMorgan said the bitcoin mining company is "best-in-class." JPMorgan initiates CleanSpark as overweight JPMorgan said the bitcoin miner offers "relative value."
Persons: Goldman Sachs, Wells, Wells Fargo, TD Cowen, Cowen, Stephens, Raymond James, it's bullish, Morgan Stanley, Cava, it's, UBS downgrades Morgan Stanley, Oppenheimer, Needham, Robinhood, MAUs, Truist, Piper Sandler, JPMorgan, Mizuho, SoFi, SOFI, Leerink, Apple Organizations: Netflix, JPMorgan, CSX, Nvidia, Iris Energy, Energy, UBS, Boeing, Oppenheimer downgrades Texas, Texas, Qs, Logistics, Amazon, Arista Networks, Barclays, Ball Corporation, Apple, Walmart, Deutsche Bank, Cboe Locations: CAVA, OW, U.S, China, ANET, SoFi
Wealthy teens were more than twice as likely to prefer Chipotle compared to average-income teens. Chick-fil-A was followed by Starbucks and Chipotle, the favorite restaurant brands of 16% and 13% of rich teens respectively, echoing previous survey results. Among average-income teens, Chick-fil-A still took the top spot, but significantly fewer – 14% versus 20% – listed it as their favorite. AdvertisementAdvertisementWealthy teens were more than twice as likely to list Chipotle as their favorite restaurant brand compared to average-income teens. Piper Sandler said that food was the top spending priority of teens, with meals accounting for an average of 22% of wealthy teens' spending and 18% of average-income teens' spending.
Persons: Piper Sandler, It's, , Dunkin, Chick, Cane's Organizations: Starbucks, Service, NPD, Rolex Locations: Atlanta
Here's a rapid-fire update on all stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. After reducing expenses to improve margins on its retail business, Jim said it's on the right track. Costco Wholesale (COST): Costco remains one of Jim's favorite stocks in the entire our entire portfolio. Ford Motor (F): Jim expressed confidence in Ford CEO Jim Farley, as the targeted United Auto Workers strike approaches the one-month mark. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer's, Jim, there's, it's, Bausch, we're, We've, Coterra, Dupont, We're, Nelson Peltz, Peltz, Estee Lauder, Patience, Fabrizio Freda, Emerson, Jim Farley, Ford, Locker, Mary Dillon, GEHC, Vimal Kapur, Bruce Broussard, Broussard, he's, Eli Lilly, Lilly, Mark Zuckerberg, Morgan Stanley, Morgan Stanley's, James Gorman, Laxman Narasimhan, Elliott, Stanley Black, Decker, Piper, Wells Fargo, Wells, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Federal Trade, Broadcom, VMWare, Bausch Health, Caterpillar, Costco Wholesale, Costco, Coterra Energy, Exxon Mobil, Natural Resources, Disney, ESPN, Hulu, Comcast, Emerson, National Instruments, Ford, United Auto Workers, Nike, GE Healthcare, Electric, GE, Honeywell International, Honeywell, Humana, Linde, LIN, Microsoft, Nvidia, Oracle, Alto Networks, cyberattacks, Palo Alto Networks, Procter & Gamble, Pioneer, Exxon, Constellation Brands, Elliott Management, FactSet, TJX, Marshalls, Wynn Resorts, WYNN, Jim Cramer's Charitable Locations: China, U.S, Maxx, Las Vegas, Boston, Macau, Asia
Here's a look at what Exxon is getting in Pioneer and how Wall Street is reacting to the deal. Piper Sandler analyst Ryan Todd also pointed to Chevron as a company that could feel added pressure from Exxon's acquisition of Pioneer. Exxon's Denbury deal, for example, seeks to capitalize on a carbon capture, utilization, and storage (CCUS) company on the Gulf Coast and Rocky Mountain regions. What it means for Exxon's stock Piper Sandler's Todd maintained his overweight rating on Exxon on Wednesday and praised the Pioneer deal. However, Exxon's stock was down 3% in early trading Wednesday, while Pioneer rose just 1%, suggesting others are less sure.
Persons: Warren Buffett, Darren Woods, John Silverstein, Woods, We're, Biraj Borkhataria, Piper Sandler, Ryan Todd, Exxon's, Piper Sandler's Todd, RBC's, Borkhataria, — CNBC's Michael Bloom Organizations: Exxon Mobil, Natural Resources, Exxon, Mobil, Denbury, Occidental Petroleum, UBS, Pioneer, EOG, APA Corp, RBC Capital Markets, Chevron, CVX, RBC Locations: United States, West Texas, New Mexico, Midland, Gulf
A new report found the top brands where teens are spending their money. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementWhen it comes to the brands teens love, Nike and Apple reign supreme. A new semi-annual report by investment bank Piper Sandler found the top brands where teens are spending their money. Teens from average income brackets had an average household income of $56,958 and spent the most on clothing at 20%, while food was the second category at 18%.
Persons: , Piper Sandler Organizations: Apple, Service, Nike
Researchers found many teens have the iPhone and the Apple Watch — and also use Apple Pay. Still, Apple Music doesn't lead the way: More teens use Spotfiy, the survey says. The report says 42% of teens were found to have used Apple Pay, the tech company's cash transfer app. And 34% of teen respondents said they own an Apple Watch. An incoming call on on Apple Watch, the most popular watch brand among teenagers.
Persons: Piper Sandler, Spotfiy, , Gen, Piper, Max —, Hiroshi Lockheimer, Lockheimer, Thomas Haigh, doesn't Organizations: Apple Watch, Apple, Service, Casio, Garmin —, YouTube Music, Amazon Prime, Street Journal
CNBC's Jim Cramer on Thursday broke down the semi-annual "Taking Stock with Teens" survey from analysts at Piper Sandler and said investors should think about what teenage consumers like. "This is the most notoriously fickle demographic out there," Cramer said, adding that he's too old to know exactly what teenagers are thinking. The company's analysts asked about teenagers' favorite brands in a number of sectors, including apparel, snacks, cosmetics and social media platforms. FritoLay-parent PepsiCo was teens' favorite snacking company, with its products Lays, Doritos and Cheetos in the top five favorite snack category, the report said. Tik-Tok and Meta -owned Instagram were some of participants' favorite social media platforms.
Persons: CNBC's Jim Cramer, Piper Sandler, Cramer, there's, SHEIN, e.l.f Organizations: Nike, PepsiCo, Apple
If the Fed's holdings of long-dated securities were shrinking like other parts of the curve, or even at all, more of these bonds would be available to the wider market. Wang recognizes that if the Fed held fewer longer-dated securities these yields might be even higher, but also points out that the Fed's holdings are largely determined by what Treasury issues. All told, the Fed's 'QT 2' is almost twice the pace of QT 1. Reuters Image Acquire Licensing RightsSince the Fed started QT 2, its total holdings of Treasury bills and bonds have fallen to $4.93 trillion from $5.77 trillion. The average profile of Fed-held Treasury debt is longer than total outstanding Treasury debt, and getting longer.
Persons: Sukree, Benson Durham, Piper Sandler, Joseph Wang, Wang, Pierre, Olivier Gourinchas, Neel Kashkari, Jamie McGeever, Andrea Ricci Organizations: Rights, Fed, Treasury, Reuters, Monetary, Minneapolis, Thomson Locations: Kasikornbank, Bangkok, Rights ORLANDO , Florida, Durham
Jim Cramer: E.L.F. is one of the most aggressive mindshare expansions I've seen'Mad Money' host Jim Cramer weighs in on Piper Sandler's Teen survey in the beauty sector.
Persons: Jim Cramer Organizations: Piper
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. ET is expected to show the producer price index for final demand increased 0.3% last month after a 0.7% rise in August, ahead of Thursday's closely watched consumer inflation data. Yields on government bonds have eased from their multi-year highs on dovish remarks from Fed officials earlier this week. Central bank officials such as Fed Governor Christopher Waller, Atlanta Fed President Raphael Bostic and Boston Fed President Susan Collins are also scheduled to speak on Wednesday. Exxon Mobil (XOM.N) lost 1.7% as the oil and gas producer is set to buy shale producer Pioneer Natural Resources (PXD.N) in an all-stock deal valued at $59.5 billion.
Persons: Brendan McDermid, Fed's Bowman, Michelle Bowman, Christopher Waller, Raphael Bostic, Susan Collins, Mark Haefele, Birkenstock, Tim Wentworth, Piper Sandler, Drugmaker Eli Lilly, LLY.N, Novo, Shashwat Chauhan, Ankika Biswas, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, Companies, Fed's Bowman Exxon, Futures, Dow, Nasdaq, Treasury, Federal, Labor Department, Atlanta Fed, Boston Fed, UBS Global Wealth Management, Traders, Microsoft, Nvidia, Palestinian, Hamas, Dow e, Walgreens Boots Alliance, Arista Networks, Exxon Mobil, Natural Resources, Novo Nordisk's, Baxter International, Thomson Locations: New York City, U.S, Gaza, Thursday's, Middle East, Israel, Bengaluru
YouTube passes Netflix as top video source for teens
  + stars: | 2023-10-11 | by ( Kif Leswing | ) www.cnbc.com   time to read: +2 min
Teenagers in the U.S. say they watch more videos on YouTube than Netflix , according to a new survey from investment bank Piper Sandler. Teens polled by the bank said they spent 29.1% of their daily video consumption time on Google-owned YouTube, beating out Netflix for the first time at 28.7%. This fall's survey polled more than 9,000 teens across the U.S. in September who average just under 16 years old. Netflix and YouTube were the two clear leaders in terms of daily video consumption by platform. The Piper Sandler results don't compare YouTube and Netflix to TikTok.
Persons: Piper Sandler, HBO Max, TikTok, Instagram Organizations: Netflix, Teens, Google, YouTube, Hulu, Disney, HBO Locations: U.S
A recent survey conducted by Piper Sandler shows most of the 101 veterinarians it polled expect the prices they charge and the volume of patients they see to mostly hold up in the months ahead. While Piper Sandler "modestly" trimmed earnings estimates for 2024 for animal health-care companies Zoetis, Idexx Laboratories and Elanco Animal Health , Westenberg said Zoetis' products performed well in the survey. Solensia rang up $30 million in sales last year, but the opportunity for Librela is even bigger, according to the analyst. ZTS YTD mountain Even with the recent pullback in Zoetis stock, shares are up more than 18% year to date. In the Piper Sandler survey, few vets said they would pick the company's Credelio Quattro as their primary parasiticide when it is released.
Persons: Piper Sandler, David Westenberg, Westenberg, Librela, Solensia, Zoetis, FactSet, Quattro Organizations: Idexx Laboratories, U.S . Food, Drug Administration, Elanco Locations: parasiticides, U.S
Interestingly, male teens report spending 11% more than last fall, while females are spending 8% less. When teens are spending, 37% said they are using funds earned from a part-time job, while 62% said parents contribute to spending. Clothing and apparel spending fallsTeens are spending 4% less on clothing compared to last year, down to $563 per year. After Nike, American Eagle and Lululemon are the second- and third-most preferred brands among teens, the same as in the spring. Converse held the spot for the second-most favorite brand behind Nike but dropped in market share by 1 percentage point.
Persons: Joe Raedle, Piper, Shein, Converse, Temu, Polly Organizations: Nike, Getty, Adidas, Ross Stores, Nordstrom, Target, Walmart Locations: Miami Beach , Florida, U.S, Maxx, Australia
Only 2 in 5 teens are using ChatGPT, survey finds
  + stars: | 2023-10-10 | by ( Pete Syme | ) www.businessinsider.com   time to read: +2 min
40% of teenagers have used ChatGPT in the last six months, according to a Piper Sandler report. ChatGPT saw its traffic decline three months in a row until August, with summer break a possible cause. AdvertisementAdvertisementJust two in five teenagers have used ChatGPT in the last six months, according to a survey from Piper Sandler. On ChatGPT usage, it also pointed out a gender imbalance: 68% of the teens who have used OpenAI's chatbot are male. It found then that only 24% of the teens surveyed had used ChatGPT, of which almost three-quarters were male.
Persons: Piper Sandler, ChatGPT, , Piper Sandler's, Similarweb Organizations: Service Locations: Northwestern
Britain's Labour Party Leader Keir Starmer addresses the start of the National Annual Women's Conference, ahead of the start of Britain's Labour Party annual conference, in Liverpool, Britain, October 7, 2023. REUTERS/Phil Noble Acquire Licensing RightsLIVERPOOL, England, Oct 9 (Reuters) - Labour leader Keir Starmer will appeal directly to British voters on Tuesday, saying his revamped opposition party is best placed to boost economic growth and offer the country the hope that "things will be better for your children". Aides say Starmer knows he must try to convey a sense of reassurance that Labour can get to work on fixing a multitude of problems from poor public services to sluggish growth. "What is broken can be repaired, what is ruined can be rebuilt," he will tell hundreds of the party faithful at the conference in the northern English city of Liverpool. "We have to be a government that takes care of the big questions so working people have the freedom to enjoy what they love," he will say.
Persons: Keir Starmer, Phil Noble, Starmer, Jeremy Corbyn, Elizabeth Piper, Gareth Jones 私 Organizations: Britain's Labour, Britain's Labour Party, REUTERS, Rights, Labour, Health Service Locations: Liverpool, Britain, Rights LIVERPOOL, England, English, Scotland
Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. "This decline in yields and increase in bond [prices] is what I want," Jim Cramer said Tuesday. And Club holding Amazon (AMZN) remained the market leader in ecommerce, with 55% of teens citing the platform as their No. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Philip Jefferson, Vimal Kapur, Jim, Kapur, Piper Sandler, Mary Dillon, Jim Cramer's Organizations: CNBC, Treasury, Federal, West Texas, Club, Honeywell, Aerospace Technologies, Industrial Automation, Energy, Sustainability Solutions, Tuesday, TJX Companies Locations: ecommerce, TJX, FL
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