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☆ McDonald's is still a share gainer despite sales slowdown, says Brian Harbour
▼ + stars: | 2024-04-30 | 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 EmailMcDonald's is still a share gainer despite sales slowdown, says Brian HarbourBrian Harbour, Equity Analyst at Morgan Stanley, discusses earnings from McDonald's and Starbucks.

Persons: Brian, Morgan Stanley Organizations: Equity, Starbucks Locations: Harbour

☆ Interest rates: It’s a mystery when the Fed will begin to cut them
▼ + stars: | 2024-04-30 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington CNN —Nowadays, it’s anyone’s guess when the Federal Reserve will begin to cut interest rates this year — if at all. Fed officials are meeting this week, starting Tuesday, to discuss rates and set policy. That guidance will be key for market observers who clearly have divergent views on interest rates. Forecasts from major Wall Street banks on the first rate cut are all over the place: JPMorgan and Goldman Sachs expect the first cut in July, while Wells Fargo is betting on September. Some Fed policymakers, meanwhile, have even floated the possibility of a rate hike, instead of a cut.

Persons: Goldman Sachs, Wall, Liz Ann Sonders, Charles Schwab, Jerome Powell, “, ” Kathleen Grace, John Towfighi, That’s, nearshoring, Alberto Ramos, Ramos, Morgan Stanley, Read, Cindy Westman, —, Brian Fung, Jason Carroll, I’ll, ”, Westman, ’, Westman — Organizations: CNN Business, Bell, Washington CNN, Federal Reserve, JPMorgan, Bank of America, CNN, Labor Department, Manufacturing, Commerce Department, Program, Social Locations: Washington, Wells, Mexico, —, China, United States, Eureka , Illinois

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Apple, Live Nation, Boeing, Coinbase, Amazon & more
▼ + stars: | 2024-04-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Bank of America reiterates Tesla as buy Bank of America said it's standing by its buy rating on the electric-vehicle maker. "We maintain our Buy rating and raise our PT from $1100 to $1,150." "We are initiating coverage of Live Nation with a Buy rating and $120 price target." "We are initiating coverage on EE with an Overweight rating." "We are initiating coverage of Integral Ad Science with a Buy rating and a $15 price target."

Persons: Tesla, TSLA, Morgan Stanley, Oppenheimer, Raymond James, Mizuho, Airbnb, Coinbase, Needham, Stephens, Jefferies, Ralph Lauren, Chegg Organizations: Argus, Boeing, " Bank of America, Bank of America, UBS, Nvidia, Dyne, JPMorgan, Catalyst Watch, Apple, Mizuho, Citi, BTC, Ethereum, Paramount, CBS, Deutsche Bank, Deutsche, Excelerate Energy, Stephens, Barclays, UMB, Corp, Contineum Locations: Base, Kansas City

☆ Shares of two big online education stocks tank more than 10% as students use ChatGPT
▼ + stars: | 2024-04-30 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

As a result, Jefferies downgraded the stock to underperform from hold and lowered its price target to $4 from $7, suggesting 2% downside from Monday's close. Both stocks sank by more than 10% on Tuesday after issuing disappointing guidance in part because of students using AI tools such as ChatGPT. The rapid rise of artificial intelligence appears to be taking a toll on the shares of online education companies Chegg and Coursera . After Chegg's most recent results, Morgan Stanley lowered its price target to $6.50 from $7 and maintained its underweight rating. He maintained his neutral rating and cut his price target to $8 from $9.

Persons: James, Brent Thill, Jefferies, Chegg, Daniel L, Rosensweig, Nathan Schultz, Thill, ChatGPT, Morgan Stanley, Josh Baer, Schultz, Bryan Smilek, Coursera Organizations: LSEG, JPMorgan, StreetAccount Locations: Shepherdsville , Kentucky

☆ Forget merely chasing Big Tech returns. New dividend payers may make the case for buying and holding
▼ + stars: | 2024-04-30 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Alphabet also announced $70 billion in share buybacks and its first-ever dividend of 20 cents a share , payable in June. Looking for the next dividend payer When scanning the universe for dividend payers, Gaffney has three buckets. "They sustain a level of dividend income back to investors over numerous cycles," he said. This includes names that have strong growth prospects, high margins and high returns on capital. "What that means is they generate free cash flow, and that can drive a strong dividend growth rate for that business," Gaffney said.

Persons: Salesforce, Charlie Gaffney, Eaton Vance, we're, Gaffney Organizations: Facebook, Meta, Morgan Stanley Investment Management, Big Tech, Machines, Qualcomm, Broadcom

☆ Jim Cramer: Buy Goldman Sachs on big dips because it's willing to correct mistakes
▼ + stars: | 2024-04-30 | by ( Paulina Likos | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Tuesday praised Goldman Sachs for its ability to course-correct after making mistakes, citing a new report about a possible exit of a challenged business. Goldman Sachs is in discussions to sell its credit card partnership with General Motors to Barclays, according to The Wall Street Journal. "I continue to like the stock of Goldman Sachs because ... they make mistakes and then they change," Cramer said on " Squawk on the Street ." Shares of Goldman, where Cramer worked early in his Wall Street career, were modestly lower Tuesday. Cramer's Charitable Trust, the portfolio used by the CNBC Investing Club, doesn't own Goldman but does own Morgan Stanley and Wells Fargo .

Persons: CNBC's Jim Cramer, Goldman Sachs, Cramer, Goldman, doesn't, Morgan Stanley, Wells Organizations: General Motors, Barclays, Wall Street, Apple, Goldman, Cramer's Charitable Trust, CNBC, The Locations: Cramer's, Wells Fargo

☆ Jim Grant: There's as much a chance of a rate hike as there is of two rate cuts
▼ + stars: | 2024-04-30 | 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 EmailJim Grant: There's as much a chance of a rate hike as there is of two rate cutsSeth Carpenter, Morgan Stanley chief economist, and Jim Grant, Grant’s Interest Rate Observer founder and editor, join 'Squawk Box' to discuss the state of the economy, what to expect from the Fed's policy meeting, interest rate outlook, and more.

Persons: Jim Grant, There's, Seth Carpenter, Morgan Stanley

☆ Watch CNBC's full interview with Jim Grant and Morgan Stanley's Seth Carpenter
▼ + stars: | 2024-04-30 | 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 EmailWatch CNBC's full interview with Jim Grant and Morgan Stanley's Seth CarpenterSeth Carpenter, Morgan Stanley chief economist, and Jim Grant, Grant’s Interest Rate Observer founder and editor, join 'Squawk Box' to discuss the state of the economy, what to expect from the Fed's policy meeting, interest rate outlook, and more.

Persons: Jim Grant, Morgan Stanley's Seth Carpenter Seth Carpenter, Morgan Stanley

☆ What's next for the IPO market
▼ + stars: | 2024-04-29 | 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 EmailWhat's next for the IPO marketMorgan Stanley's Colin Stewart joins 'Money Movers' to discuss the recent signs of life in the IPO market.

Persons: Morgan Stanley's Colin Stewart

☆ Here are Monday's biggest analyst calls: Apple, Nvidia, AT&T, Tesla, Shopify, Super Micro Computer and more
▼ + stars: | 2024-04-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Evercore ISI reiterates Tesla as in line Evercore ISI lowered its price target on Tesla to $145 per share from $155. Barclays upgrades AT & T to overweight from equal weight Barclays sees "growth quality" for the telecommunications and wireless provider. Barclays downgrades Lululemon to equal weight from overweight Barclays downgraded the maker of athleisure wear due to rising competition. "We initiate coverage of Dave Inc. with a Market Outperform rating and $70 price target representing ~65% upside from the current price." "We are upgrading GWW from EW to OW, while raising our price target from $1,000 to $1,250."

Persons: Evercore, Tesla, Jefferies, LUV, Lululemon, LULU, Dave, Oppenheimer, Instacart, Bernstein, Goldman Sachs, William Blair, Eastman, Morgan Stanley, Berenberg, Melius, Price, Stephens, Grainger Organizations: Airlines, Jefferies, Southwest Airlines, Dynamics, Barclays, Dave Inc, JPMorgan, CART, Apple, Eastman Chemical, Arista Networks, Nvidia, Data, Citi Locations: Americas, China, Tulsa , Oklahoma, Kingsport , Tennessee

☆ Shopify embraced a 'new shape' after a post-pandemic slump and has charted an 18-month comeback
▼ + stars: | 2024-04-29 | by ( Madeline Stone | ) www.businessinsider.com time to read: +8 min

Read previewIn October 2022, Shopify's once high-flying stock hit its lowest price since before the Covid pandemic. AdvertisementNow, after two rounds of layoffs and a divestment of its fulfillment and logistics business, the picture looks a bit different for Shopify. Shedding a "money-losing logistics business"Dropping logistics and fulfillment is a major part of Shopify's stock comeback story. In May 2023, Shopify announced it would be selling the logistics business entirely to Flexport. In May 2023, Shopify cut another 20% of its workforce as it sold its logistics business to Flexport.

Persons: —, Shopify's, Shopify, Oppenheimer, Ken Wong, Wong, D.A, Davidson, Gil Luria, Tobi Lütke, Lütke, Luria, Morgan Stanley, Jeff Hoffmeister, Bhavin Shah, GMV, We've, Shah Organizations: Service, Business, Systems, Investors, SEC, Deutsche Bank Locations: Salesforce, mstone@businessinsider.com

☆ Jim Cramer says investors who don't own any Alphabet could buy at these levels
▼ + stars: | 2024-04-29 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. But Jim Cramer argued that the market will, instead, be focused on the Federal Reserve's next interest rate policy decision, set for Wednesday, and the April jobs report on Friday. 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 . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jim, Morgan Stanley, UnitedHealth, Jim Cramer's Organizations: CNBC, Apple, Federal, Bloomberg, Google, OpenAI, Microsoft, Alto Networks Locations: it's, Palo

☆ Bonds offer income and some volatility protection. Pick out the right bond fund for your portfolio
▼ + stars: | 2024-04-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

That said, in general, most investors would be best served buying a diversified bond fund, said Mulach. What to look for in bond fundsThere are several factors to consider when investing in a bond fund. Intermediate-core durations typically range between 75% and 135% of the three-year average of the effective duration of the Morningstar Core Bond Index. Top Morningstar Bond Funds Ticker Fund Morningstar Category Type 30-day SEC yield Adj. Aggregate Bond ETF can be a great option to simply replicate that index, he said.

Persons: Morgan Stanley, shouldn't, Morningstar, Mike Mulach, Chuck Failla, Failla, Mulach, You'll, Baird, BSBSX Baird, Morningstar's Organizations: Treasury, Federal Reserve, Sovereign Financial, Morningstar, SEC, Mutual, FLTB Fidelity, Fidelity, Hartford, Aggregate

Following a long period of waiting, "the IPO market's back." That's according to Colin Stewart, Morgan Stanley's global head of technology equity capital markets. In an interview with CNBC's "TechCheck" on Monday, Stewart said 10 to 15 more tech companies could go public before the end of 2024, with an even "better year" in store for 2025. Morgan Stanley was the lead banker on the Reddit and Astera IPOs, positioning itself to collect roughly $37 million in total fees. Wall Street rival Goldman Sachs led the latest venture-backed tech IPO last week.

Persons: Colin Stewart, Morgan, CNBC's, Stewart, It's, we've, Reddit, Morgan Stanley, Astera, Goldman Sachs Organizations: Wall Street, New York Stock Exchange

☆ Corporate earnings solid so far, despite threats from a slowing economy and sticky inflation
▼ + stars: | 2024-04-29 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Valuations coming down So if earnings are up, why is the S & P off its highs? Today, a month later, 2024 earnings estimates are essentially the same but the multiple has declined to 20.8. The S & P 500 hit a low of 4,117 on Oct. 27 and only recovered when rates came down in early November. There are some big drags on earnings Some companies are seeing large declines in earnings estimates that are weighing on their sectors. When including this one-time item, the S & P 500 earnings growth rate for the first quarter declines to 5.6%, from 8.7%, LSEG has noted.

Persons: Goldman Sachs, JPMorgan Chase, Morgan Stanley, Christopher Suh, Stephen Squeri, Hess, Nick Raich, LSEG, Hal Lawton, Brian Niccol, CNBC's Kate Rogers, Horton, Paul Romanowski, Kimberly, Clark, Michael Hsu Organizations: Companies, Netflix, JPMorgan, GE Aerospace, Caterpillar, Microsoft, Merck, Ford, Waste Management, Royal, Consumer, American Express, Energy, Marathon Petroleum, Apache, Valero Energy, Oil, Occidental Petroleum, Devon Energy, ConocoPhillips, Exxon Mobil, Scout, Bristol Myers Squibb, Karuna Therapeutics, Boeing, Nvidia, Meta, AMD Locations: financials, industrials, Royal Caribbean, North America

☆ Top Tesla analyst Adam Jonas says Musk's China visit means 'he's back' and fully committed to EV maker
▼ + stars: | 2024-04-29 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

"Elon Musk's visit to China means far more than seeking approval for self driving tech on Chinese roads. Jonas reiterated an overweight rating on Tesla stock, alongside a $310 per share price target, implying more than 82% upside from Friday's $169.29 close. Tesla jumped as much as 14.4% on Monday following news of Musk's visit to China and meeting with Chinese Premier Li Qiang , as investors interpreted it as a sign of Musk's commitment to Tesla. To be sure, Musk's visit to China doesn't mean a breakthrough for FSD technology will come sooner. Tesla stock has faced increased pressure in 2024 on several fronts, and has still slumped 22% even after Monday's rally.

Persons: Elon, he's, Morgan Stanley's, Adam Jonas, Elon Musk's, Jonas, Tesla, Premier Li Qiang, Musk, Elon Musk, FSD Organizations: Premier, Twitter, SpaceX, Tesla Locations: China, Delaware, Beijing

☆ Here are 5 sectors of the market that are working and the stocks that stand out in each
▼ + stars: | 2024-04-28 | by ( Jim Cramer | ) www.cnbc.com time to read: +10 min

Federal Reserve Chairman Jerome Powell met with the press after the March Federal Open Market Committee (FOMC) meeting, which was pretty fraught. Data centers If there is the whiff of a data center or anything in one, the stock goes higher. It's why Meta stock is a buy a tad lower as stocks tend to revisit those kinds of declines. I worry about Club stock Stanley Black & Decker for this reason, but the dividend will keep it propped up for now. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: what's, Jerome Powell, Powell, Powell isn't, Voltaire, Vertiv, Eaton, Meta, It's, jetsam, Darius Adamczyk, Vimal, Stanley Black, Decker, Azek, Morgan Stanley, Wells, Charlie Scharf, Wells Fargo, Chipotle, that's, Johnson, Jensen Huang, Jim Cramer's, Jim Cramer, Jim, Scott Mlyn Organizations: Federal, Market, Broadcom, Google, Microsoft, Nvidia, Travel American Express, Raytheon, GE Aerospace, Royal, AAR, Honeywell, Southwest Airlines, Housing, Stanley, JPMorgan, Procter, Gamble, Colgate, Merck, Bristol, Myers, PepsiCo, Energy, Coterra Energy, Diamondback, drillers, CNBC Locations: California, Royal Caribbean, Delta, Devon

☆ US and China are buying into Mexico’s manufacturing moment
▼ + stars: | 2024-04-28 | by ( John Towfighi | ) edition.cnn.com time to read: +9 min

CNN —As US supply chains decouple from China, Mexico’s manufacturing sector is emerging as a winner. Ramos said Mexico and China have been competing for the US manufacturing market for years, but amid a shifting US-China relationship, Mexico looks poised to pull ahead. Those exports were driven by manufacturing, which comprises 40% of Mexico’s economy, according to Morgan Stanley. Meanwhile, Chinese exports to the US were down 20% in 2023, compared to 2022. Analysts at Morgan Stanley see the value of Mexico’s exports to the United States growing from $455 billion to about $609 billion in the next five years.

Persons: That’s, nearshoring, Alberto Ramos, Goldman Sachs, Ramos, Morgan Stanley, Katherine Tai, CNN’s Julia Chatterley, Tai, United States Jose Luis Gonzalez, Xeneta, Peter Sand, Jose Enrique Sevilla, John Raines, Goldman’s Ramos, Biden, Raquel Buenrostro, —, Joe Biden, Donald Trump, Trump, ”, Global’s, Raines, Christoffer Enemaerke, “, Tesla, Elon Musk, Julio Cesar Aguilar, BYD doesn’t, RBC’s Enemaerke, Michael Nam Organizations: CNN, Manufacturing, Commerce Department, US Trade, General Motors, Ford, Reuters, Shipping, Container Trade, Xeneta, Moody’s Analytics, P Global Market Intelligence, steelworkers, “, Global’s Sevilla, Macip, RBC, Getty, BYD, ” Sevilla, Monterrey Locations: China, Mexico, Canada, North America, US, Ciudad Juarez, United States, Pittsburgh, Mexican, Monterrey, ”, Nuevo Leon, Asia

☆ Buy the dip on tech stocks like Apple and Nvidia ahead of earnings, Morgan Stanley says
▼ + stars: | 2024-04-27 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

There's still plenty of big tech-related stocks to buy ahead of earnings, Morgan Stanley said recently. The firm said investors should buy the weakness in stocks like Nvidia and Apple before the companies deliver their quarterly results. CNBC Pro combed through Morgan Stanley research to find stocks the firm likes as earnings season continues. Nvidia The firm said it's standing by shares of the AI chipmaker ahead of earnings in late May. Fortinet Fortinet is scheduled to report earnings on May 2 and Morgan Stanley continues to pound the table for the stock.

Persons: Morgan Stanley, Joseph Moore, NVDA, Moore, Meta Marshall, Keysight, Marshall, Fortinet Fortinet, Hamza Fodderwala, he's, Fodderwala, Fortinet, Dell, Q, Q revs, we'd Organizations: Nvidia, Apple, CNBC, Dell, Keysight Technologies, Apple's, NVIDIA

☆ Alphabet soars 10% on strong earnings, first-ever dividend, $70 billion buyback
▼ + stars: | 2024-04-26 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

Alphabet CEO Sundar Pichai during the Google I/O developers conference in Mountain View, California, on May 10, 2023. Alphabet shares shot up 10% Friday morning after the company posted better-than-expected first-quarter results and greenlit its first-ever dividend and a $70 billion buyback. Earnings of $1.89 per share eclipsed the $1.51 in earnings per share expected by Wall Street. The company said the board also approved the repurchase of an additional $70 billion in stock. Among other price target boosts for the stock following Alphabet's earnings, JPMorgan increased its price target to $200 from $165, while Evercore ISI upped its target to $200 from $160.

Persons: Sundar Pichai, Oppenheimer, Morgan Stanley, durably, — CNBC's Michael Bloom Organizations: Google, LSEG, Wall, YouTube, Barclays, —, JPMorgan Locations: Mountain View , California

☆ Here are Friday's biggest analyst calls: Nvidia, Microsoft, Alphabet, Apple, Snap, Intel, Western Digital and more
▼ + stars: | 2024-04-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Friday's biggest calls on Wall Street: Bank of America reiterates Alphabet as buy Bank of America said it is sticking with its buy rating on Alphabet following earnings Thursday. Deutsche Bank reiterates Snap as buy Deutsche Bank said it is sticking with its buy rating on the stock following earnings on Thursday. " Goldman Sachs reiterates Intel as sell Goldman Sachs said it is standing by its sell rating on Intel shares following earnings Thursday. Benchmark upgrades Western Digital to buy from hold Benchmark upgrades Western Digital following the company's "major upside" earnings report. Bank of America reiterates Nvidia as buy Bank of America said Nvidia remains a top idea at the firm.

Persons: Goldman Sachs, prioritization, Maxim, Bank of America downgrades Hertz, Raymond James, Knight, Morgan Stanley downgrades Mobileye, Morgan Stanley, Piper Sandler, Wells, Dow Organizations: Bank of America, Deutsche, Deutsche Bank, Microsoft, Intel, TAM, Apple, Barclays, Enphase Energy, Digital, " Bank of America, Sonic Automotive, underperform Bank of America, Underperform, of America, Nvidia, AMD, MU, Caterpillar, Air Defense, Swift Transportation, EPAM, IT Services, Materials, Compass Minerals, JPMorgan, Dow, Teledyne, HSBC Locations: China, underperform, Israel

☆ Morgan Stanley Wealth Management buys the dip in Nvidia
▼ + stars: | 2024-04-26 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Nvidia is poised for even bigger gains from current prices, according to Morgan Stanley Wealth Management. Morgan Stanley Wealth Management currently has an overweight rating on Nvidia. Morgan Stanley Wealth Management's $1,000 price target implies that the stock could rise another 21%. Nvidia shares sell for a "valuation in line with historical trough multiples," and its growth potential justifies a higher valuation, Morgan Stanley said. Additionally, a growing AI tailwind could provide even more ammunition for Nvidia stock to balloon.

Persons: Morgan, Morgan Stanley, NVDA, Michael Bloom Organizations: Nvidia, Morgan Stanley Wealth Management, Morgan, Morgan Stanley Wealth

Microsoft and a major chemical stock were among Friday's biggest analyst calls. He also lowered his price target by $1 to $25, which implies shares can fall roughly 19% from Thursday's close. Sandler increased his price target by $27 to $200, which implies 26.6% potential upside. JPMorgan: Analyst Mark Murphy added $30 to his price target, which is now at $470. He also hiked his price target to $61 from $55, which implies upside of 8% going forward.

Persons: Morgan Stanley, Mobileye, Adam Jonas, Jonas, — Pia Singh, Stifel, Stanley Elliot, Elliott, Alphabet's, Oppenheimer, Jason Helfstein, Ross Sandler, Sandler, Brent Thill, Google's, Justin Post, Post, Wall, Raimo Lenschow, Wells, Michael Turrin, MSFT, Turrin, Mark Murphy, Murphy, Keith Weiss, Weiss, Jeffrey Zekauskas, Zekauskas, Dow, Fred Imbert Organizations: CNBC, Microsoft, JPMorgan, Dow Inc, TAM, Caterpillar, Google, Barclays, –, Jefferies, Bank of America, DOW Locations: Israel, Thursday's, reaccelerate, Wells Fargo

☆ Dow drops more than 600 points on inflation and growth concerns, heads for biggest drop of the year: Live updates
▼ + stars: | 2024-04-25 | by ( Brian Evans | ) www.cnbc.com time to read: +6 min

Economists polled by Dow Jones forecast GDP growth would come in at 2.4%. Tech tumbleThe lackluster GDP added further pressure to an already-tense market contending with concerns over a pullback in growth among technology earnings. "This report was the worst of both worlds: economic growth is slowing and inflationary pressures are persisting," wrote Chris Zaccarelli, investment chief at Independent Advisor Alliance. Investors are hoping the PCE report, which is the Fed's preferred measure of inflation, will show an improvement in pricing pressures after the March consumer inflation report came in hotter than expected. — Brian Evans8:58 a.m.: 10-year Treasury yield jumps to highest level since NovemberThe 10-year Treasury yield broke above 4.7% following the GDP report, hitting its highest level since November.

Persons: Johannes Eisele, Dow Jones, Chris Larkin, Morgan Stanley, Meta, Thierry Wizman, UnitedHealth, Alex Harring, Mark Zuckerberg's, Hakyung Kim, Fred Imbert, Chris Zaccarelli, Sarah Min, — Brian Evans, — Jesse Pound Organizations: New York Stock Exchange, AFP, Getty, Dow Jones, Caterpillar, IBM, Nasdaq, Dow, Federal Reserve, Federal, Traders, Meta, Business Machines, FX, Macquarie, Microsoft, Amazon, Merck, York Stock Exchange, Independent, Alliance, Investors, Treasury, Gross

☆ Wall Street stands by Meta even as costs rise and the stock sells off, cites AI leadership
▼ + stars: | 2024-04-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Wall Street analysts are standing by Meta Platforms despite Thursday's sell-off. The analyst cut his price target to $480 from $535 a share, noting that building and creating new products is no easy — or quick — feat. The adjusted price target reflects nearly 3% downside from Wednesday's close. Morgan Stanley analyst Brian Nowak retained his overweight rating and $550 price target, saying the firm remains "buyers through Meta's investments." Meta isn't alone in this feat, with Nowak expecting competitors to undertake similar steps as more AI opportunities arise.

Persons: Doug Anmuth, Benjamin Black, Black, Citi's Ronald Josey, Goldman Sachs, Eric Sheridan, Morgan Stanley, Brian Nowak, Meta isn't, Nowak, Bank of America's Justin Post, Ross Sandler, Mark, Zuckerberg, Sandler Organizations: Meta, Facebook, Deutsche Bank, Bank of America's, Barclays

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