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That would likely be enough to take on DuPont's water business if they wanted it. Foot Locker's new price target: Shares of Foot Locker are up Friday, a day after gaining 14% in response to a better-than-expected quarter against very low expectations. 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. The Foot Locker logo is displayed in a store in San Francisco, California, on May 19, 2023.
Persons: Jim Cramer, it's, Bullish, Ed Breen, you'd, Breen, We've, Locker, Mary Dillon's, Jim Cramer's, Jim, Justin Sullivan Organizations: CNBC, Dell Technologies, Marvell Technology, DuPont, Nike, Jim Cramer's Charitable Locations: San Francisco , California
The retailer behind Gap, Banana Republic, Athleta and Old Navy blew past earnings estimates and beat on revenue, too. Here's how Gap did compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:Earnings per share: 41 cents vs. 14 cents expected41 cents vs. 14 cents expected Revenue: $3.39 billion vs. $3.29 billion expectedGap shares spiked more than 20% in extended trading Thursday. Comparable sales were up 1%, well ahead of estimates of down 1.9%. Comparable sales were up 5% after being down a staggering 13% in the year-ago period. Analysts didn't have expectations for Athleta's comparable sales.
Persons: Richard Dickson's, Richard Dickson, Dickson, Da'Vine Joy Randolph, Zac Posen, Anne Hathaway, Here's Organizations: Navy, LSEG, CNBC, Banana Republic Locations: New York, Banana Republic, Manhattan, Posen
Foot Locker surged Thursday after its quarterly earnings report showed signs that CEO Mary Dillon's turnaround plan is starting to pay off. At its highs of the session Thursday, Foot Locker was up nearly 32% before giving up some of those gains. That counts for something, especially when Foot Locker's stock entered Thursday down nearly 35% since the session before the March disaster. Encouragingly, Dillon told CNBC that Foot Locker and Kids Foot Locker saw positive comp-store sales. Foot Locker Why we own it: We are in Foot Locker for the turnaround.
Persons: Locker, Mary Dillon's, Dillon, Thursday's, Foot, Mary Dillon, Jim Cramer, Encouragingly, comps, Nike, we've, Jim Cramer's, Jim, Xavi Lopez Organizations: LSEG, CNBC, Nike, Holding, JD, Dick's Sporting Goods, Shoppers, Lightrocket, Getty Locations: Oregon, It's, Spain
Investors hunting for income ought to look to small-cap stocks for a few high-quality dividend payers, according to Bank of America. There are names within it that offer quality dividend yields, according to Jill Carey Hall, equity strategist at Bank of America, in a Monday research report. Further, once the Federal Reserve begins cutting rates, yields paid on cash will fall, and that will make these dividend payers even more attractive for income. Finally, Bank of America added Essential Properties Realty Trust to its list of buy-rated dividend payers. The stock has a dividend yield of 4.2%, and shares are up 7.5% in 2024.
Persons: Russell, Jill Carey, Peter Galbo, Utz, Alton Stump, Stump, Nick Joseph Organizations: Bank of America, Nasdaq, Federal Reserve, Brands, Properties Realty Trust, Citi Locations: West, Midwest, Southwest, Hanover , Pennsylvania, comps
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTarget reported $24.5 billion in revenue last quarter, with comparable sales down 3.7%, marking the fourth consecutive quarter of decline. Unlike total sales, comparable sales exclude new and closed stores, and analysts commonly use the measure to assess a business' underlying health. AdvertisementThe company also revamped and expanded its membership program, Target Circle, adding over a million new shoppers last quarter. "We're encouraged by the meaningful progress we've seen in recent quarters," Cornell said.
Persons: , Brian Cornell, Cornell, Jack children's, We're Organizations: Service, Business, Walmart, Amazon Prime, Target
The other buy-rated stocks are Raymond James Financial , S & P Global , Monster Beverage and Topgolf Callaway Brands. The analyst said he's bullish on each of Raymond James' individual businesses including asset management, capital markets and brokerage services. Further, Raymond James offers a steady stream of organic growth and a "cheap valuation," McLaughlin said. Raymond James is also in a place to take advantage of the current high rate environment, he added. Raymond James Financial "Reiterate Buy; cheap valuation + overlooked qualities.
Persons: Raymond James Financial, Raymond James, Mark McLaughlin, he's, RJF, McLaughlin, Peter Galbo, Galbo, MNST, Topgolf, Alexander Perry, Topgolf Callaway, Perry, … MODG Organizations: of America, Nvidia, CNBC, Bank of, P, Monster Beverage, Topgolf Callaway Brands, Raymond James Financial, Beverage, , IHS Locations: comps, Topgolf
The first-quarter reporting season is nearing its end, but investors may want to pay close attention to these stocks reporting this week poised to potentially experience volatile moves. A handful of Chinese technology and e-commerce stocks showed up, including Alibaba, Baidu and JD.com. All three stocks are poised to experience moves of about 6% or more. Home improvement stock Home Depot and discount retailer Walmart also made the cut, with both stocks slated to experience moves of roughly 4%. Other stocks poised for potentially big moves include Under Armour , Take-Two Interactive and Applied Materials .
Persons: That's, Jack, Krisztina Katai, Nick Wells Organizations: CNBC Pro, Baidu, Walmart, Deutsche Bank, Materials
Just seven S & P 500 names are slated to post their quarterly figures, including Home Depot and Walmart. Management is scheduled to hold a call at 4:30 p.m. Last quarter: Cisco posted fiscal second-quarter results that beat expectations. What history shows: Cisco shares have risen after the last six earnings releases, Bespoke data shows. Thursday Walmart is set to report earnings in the premarket, followed by a call at 8 a.m. Last quarter: Walmart earnings topped analysts' estimates, thanks to soaring e-commerce sales . What history shows: Walmart has beaten bottom-line forecasts 71% of the time, per Bespoke.
Persons: Wells, Zachary Fadem, LSEG, Samik Chatterjee, Robert Ohmes Organizations: Home Depot, Walmart, CNBC, Investment, Cisco Systems, Management, Cisco, JPMorgan, Campus Networking, Bank of America
When a company performs well and I interview its CEO on CNBC, I consider the stock's performance before fashioning my questions. Maybe the company had been poorly run and the guest is a new CEO who is turning it around. Once Wood picks a stock, that company can do no wrong, which is code for she can do no wrong. And take it from me, an old Mexican restaurant veteran, it travels better than any other restaurant chain. We should have just bought Dutch Bros. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)
Persons: Albert Manifold, Rather, That's, Chris Gibson, Jensen Huang, Huang, Gibson, Cathie Wood, Wood, that's, Brinker, Chipotle, Chipotle execs, Taco Bell, isn't, Yum, McDonald's, Laxman Narasimhan, Howard Schultz, let's, Narasimhan, Joe, Locker, Jim Cramer's, Jim Cramer, Jim, Al Drago Organizations: CNBC, Pharmaceuticals, Nvidia, ARK, Gallup, Darden, Diageo, Brands, KFC, Taco, Taco Bell, Texas, Starbucks, Management, Bros, Dutch Bros, Jim Cramer's Charitable, Starbucks Corp, Health, Education, Labor, Bloomberg, Getty Locations: United States, U.S, Dublin, Ireland, Europe, Texas, Olive, East, Israel, Washington , DC
Akamai : Shares dropped more than 7% after the company missed quarterly earnings on content delivery network weakness. "I'm a huge fan of Akamai," Jim Cramer said Friday. "Buried within this company, almost 50% of the company, is a jewel of a cybersecurity company." Array Technologies : The solar company reported a strong quarter, highlighted by an unexpected profit. Unity Software : The platform for creating interactive content had a mixed quarter: a sales beat and an earnings miss.
Persons: Jim Cramer's, Jim Cramer, Cramer, wasn't, Nextracker, Unity, hasn't, Matt Bromberg Organizations: CNBC, Club, Technologies, Unity Software, Zynga
CNBC's Jim Cramer likes Costco stock despite its high valuation and suggests it has more room to run. "I feel very comfortable" about Costco, Cramer said Thursday on " Squawk on the Street ," after the wholesale retailer reported a solid April sales report. Costco shares rose nearly 1.5% after Wednesday evening's monthly sales report showed core comparable sales, which exclude gas and foreign exchange fluctuations, gained 5.5% last month. Goldman Sachs analysts increased its Costco price target to $840 from $830 and also maintained its buy rating. The Club currently has a 2 rating on Costco shares and a price target of $800.
Persons: CNBC's Jim Cramer, Cramer, FactSet, Wells Fargo, , Costco's, we're, Goldman Sachs Organizations: Costco, CNBC, Wells, Street, JPMorgan
Bank of America reiterates Apple as buy Bank of America is sticking with its buy rating on shares of Apple after its Tuesday iPad event. Bank of America reiterates Rivian as buy Bank of America said it's standing by the EV maker following earnings on Tuesday. " Bank of America initiates Sutro as buy Bank of America said it's bullish on shares of the biotech company. Deutsche Bank upgrades Boston Beer to hold from sell Deutsche upgraded the stock mainly owing to valuation. Bank of America reiterates Nvidia and Micron as buy Bank of America said it's sticking with buy ratings on both Nvidia and Micron.
Persons: Wells, Baird, Apple, Morgan Stanley, NKE, Reddit, Rivian, RIVN, Rosenblatt, Raymond James, it's, Roth, SHLS, Goldman Sachs, Goldman, ZI, YTD, Stephens, Ferrari Organizations: Hexcel Corporation, Old Dominion, Bank of America, Apple, Nike, Citi, Barclays, Disney, Nasdaq, JPMorgan, VMware, Broadcom, Deutsche Bank, Boston Beer, Deutsche, Nvidia, Micron, AMD, ARM, MU, Garden Entertainment, Knicks, Rangers, UBS, Ferrari Locations: Old, Disney, Datadog, RDFN
Earnings per share rose 1% to $1.53, a March quarter record, and exceeded the LSEG consensus estimate of $1.50. This resulted in stronger-than-expected free cash flow, which is more important than operating cash flow because it is cash Apple can ultimately return to shareholders via buybacks and dividends. During the reported quarter, Apple paid over $27 billion to shareholders, including $3.7 billion in dividends and equivalents and another $23.5 billion via the repurchase of 130 million shares. Quarterly results Apple's services sales notched another record, which offset a slight miss in product sales and led to beats on gross and operating income. iPad sales are expected to gain double digits year over year, much better than the 5.9% expected on Wall Street.
Persons: Tim Cook, Cook, we're, Apple, Luca Maestri, Maestri, Jim Cramer's, Jim Cramer, Jim Organizations: Apple, Management, MacBook, MacBook Air, Apple Watch, Fortune, Apple Vision, KLM Airlines, CNBC, Apple Inc, Visual China, Getty Locations: China, Greater China, America, East, Canada, India, Spain, Turkey, Indonesia, WWDC, U.S, Australia, France, Germany, Japan, Shanghai
In Starbucks' international segment, comparable store sales fell 6% and missed estimates of 0.5% growth. The street was looking for flat comparable sales in China, according to FactSet. China comparable sales are expected to decline by a single-digit percentage versus expectations of low single-digit growth in the second quarter through the fourth quarter. Global net new store growth was tweaked down from 6% to 7%. That's due to slower China store openings, which was revised to 12% growth from 13%.
Persons: Laxman Narasimhan, Dunkin, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Revenue, Starbucks, Bros, McDonalds, Wall Street, Global, CNBC, Getty Locations: China, United States, North America, Latin America, Asia, Japan, Manhattan , New York City
GE Healthcare shares sank Tuesday after the company's first-quarter sales and profits fell slightly short of the Wall Street consensus. GE Healthcare Why we own it : GE Healthcare is the global leader in medical imaging, diagnostics, and digital solutions in health care. That's what we have to say about this GE Healthcare quarter. This contributed to some of the softness in the first quarter quarter. The GE Healthcare scanner is called the Revolution CT. Martin Schutt | picture alliance | Getty Images
Persons: didn't, GE Healthcare's, , it's, Peter Arduini, Jim Cramer's, Jim Cramer, Jim, Martin Schutt Organizations: GE Healthcare, LSEG, General Electric, Philips, Siemens, GE Healthcare YTD, GE, Management, Alzheimer's, CNBC, Getty Locations: China, Covid, Jena , Germany
Sellers are reducing prices in cities with surplus housing inventory, according to Redfin data. As sellers lower prices and builders offer concessions, homebuyers are gaining more power. It means two things for prospective homebuyers: One, more sellers are likely to slash listing prices to attract buyers. To calculate which metros have the highest share of sellers reducing list prices, Redfin analyzed home price data from 85 US metros with populations of at least 750,000. Below are the 10 metros with the largest share of price drops in March, according to Redfin.
Persons: Sellers, Price, , Eric Auciello, Auciello, Redfin Organizations: Service Locations: Florida, Texas
Bernstein reiterates Tesla as underperform Bernstein said it still sees minimal positive catalysts ahead for Tesla following earnings on Tuesday. Bank of America upgrades Tesla to buy from neutral Bank of America said it sees a slew of "positive catalysts" ahead for Tesla shares following earnings on Tuesday. Citi downgrades Molson Coors to sell from neutral Citi said it's concerned about slowing growth. Citi upgrades SiriusXM to neutral from sell Citi said the risk/reward is now more balanced. Citi reiterates Amazon as buy Citi raised its price target on the stock to $235 per share from $215.
Persons: Piper Sandler, Piper, Bernstein, Tesla, underperform Bernstein, KBW, Wells, Citi downgrades Molson, it's, Oppenheimer, Domino's, it's bullish, DPZ, SIRI, Morgan Stanley, Morgan Stanley it's, GenAI, Guggenheim, Enphase, Jefferies Organizations: Tesla, Mizuho, Bank of America, of America, Packaging Corporation of America, Citi downgrades, Citi downgrades Molson Coors, Citi, TAP, Deutsche Bank, Deutsche, Computer, Micro, Sea Limited, fintech JV, Amazon, Disney, Atlanta Braves, Braves, Microsoft Locations: Singapore, BNPL
Meta Platforms will report its first-quarter earnings on Wednesday after the closing bell. Wall Street is optimistic about the social media firm's result, citing optimism around AI and ad spending. Here's what Wall Street expects from Meta's first-quarter earnings after the closing bell on Wednesday:Wells Fargo: In need of a new catalystWells Fargo has projected ad-led strength in the first-quarter, with Meta benefiting from a robust e-commerce environment. The bank highlighted the fact that Instagram Reels has reached revenue neutrality, and should remain a key revenue growth tailwind over the coming years. JPMorgan rates Meta at "Overweight" with a $535 price target.
Persons: , Wells, Ken Gawrelski, optionality, Brad Erickson, Goldman Sachs, Goldman, Justin Post, Nitin Bansal, Doug Anmuth Organizations: Service, Meta, RBC, Bank of America, Washington . Bank of America, JPMorgan Locations: Meta's, Fargo, Wells, Washington .
Big technology earnings this week could offer a much-needed catalyst for a market under pressure. Last week, the S & P 500 and Nasdaq Composite notched their longest daily losing streaks since October 2022, with the broad index posting its worst week since March 2022. Big Tech's performance this week could set the tone for the rest of earnings season and revive the market momentum. Tesla Tesla launches the reporting period for the "Magnificent Seven" stocks, with results due out after the bell Tuesday. Meta Platforms Meta Platforms ' results are due out after the bell Wednesday.
Persons: Tesla, Elon Musk, John Murphy, Longtime Deutsche Bank Tesla, Emmanuel Rosner, Brent Thill, Bernstein, Mark Shmulik, Doug Anmuth, Justin Post, Goldman Sachs, Eric Sheridan, Jefferies, Bernstein's, Wells Fargo's Michael Turrin, Piper Sandler's Brent Bracelin, Kash Rangan, Brad Zelnick, OpenAI, Satya Nadella Organizations: Federal Reserve, Nasdaq, Tesla Tesla, Bank of America, Barclays, Longtime Deutsche Bank, Microsoft, Deutsche, NVIDIA Locations: China
Analyst Laura Champine also lowered her price target to $80 from $85, implying a 6% increase for the stock. "New York City office is one of the few REIT subsectors seeing improved demand," the analyst wrote. The bank double-upgraded the e-commerce platform to overweight from underweight and hiked its price target to $62 from $35. Feather added that eBay stock is currently trading at a discount versus peers, with Etsy trading around 35% higher. "JetBlue's DNA aligns with our broader preference for loyalty, premium, and international exposure ... albeit with less vigor than the Big 3," the analyst wrote.
Persons: TD Cowen, Morgan Stanley, Needham, Laura Martin, Andy, Martin, — Jesse Pound, Laura Champine, Champine, — Lisa Kailai Han, Tesla, Emmanuel Rosner, Elon Musk, Rosner, Fred Imbert, John Kim, Kim, SLG, KeyBanc, Eric Heath, Heath, Nathan Feather, Feather, James West's, West, Jamie Baker, Baker, Lisa Kailai Han, Matthew Ramsay, Ramsay Organizations: CNBC, Nvidia, Amazon, Wholesale, BJ's Wholesale, Deutsche Bank, Tesla, Reuters, BMO Capital Markets, Green Realty, New York City, SL Green Realty, SL Green, SL, KeyBanc, eBay, EBAY, GE, ISI, GE Vernova, General Electric, JPMorgan, JetBlue JPMorgan, JetBlue, Jetblue, Technology, NVIDIA, Match Group Locations: China, Manhattan, York City, Wednesday's, York
Tesla — Tesla shares sank more than 6% after the electric vehicle maker reported an 8.5% year-over-year decline in deliveries in the first quarter. GE Vernova — Shares jumped more than 3% after GE Vernova started trading on the New York Stock Exchange on Tuesday under the ticker "GEV," following its spinoff from General Electric. Shares of GE Aerospace , which was formerly General Electric and is keeping the "GE" ticker symbol, gained roughly 1%. Figs — Shares of the health-care apparel maker slipped 6.2% following a Bank of America downgrade to underperform from neutral. Horton — The homebuilder's shares slipped 3.7%.
Persons: PVH, Calvin Klein, Tommy Hilfiger, Blackstone, Nextracker, Horton —, Wedbush, Horton, Brent Bowman, Tim Cabral, , Sarah Min, Alex Harring, Samantha Subin Organizations: GE, , GE Vernova, New York Stock Exchange, General Electric, GE Aerospace, SLB, CVS, Health, Medicare, Medicaid Services, CVS Health, UnitedHealth, Endeavor, Silver, Blackstone —, UBS, Barclays, Bank of America, Veeva Locations: Europe, D.R
We are initiating a position in Best Buy, buying 400 shares at $82.30 each. Consumer electronics historically needed to be upgraded and replaced every three to seven years, meaning many of the products that were purchased in the Covid era will need to be replaced soon. They point out that Best Buy is one of the last broad-line and hard-line retail stocks in its coverage that experienced a Covid pull-forward that hasn't returned to its historical valuation. Lastly, Best Buy sports an attractive dividend yield of about 4.65%. 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's, Bose, hasn't, Jim Cramer, Jim Organizations: Consumer, Management, Microsoft, Electronics, Telsey Advisory, JPMorgan, Federal Reserve, CNBC Locations: Vegas
Mizuho initiates DraftKings as buy Mizuho said in its initiation of DraftKings that it sees "upside to revenue growth." Mizuho initiates MGM as buy Mizuho said MGM shares are "fundamentally misvalued." Mizuho initiates Carnival as buy Mizuho said Carnival is a top pick at the firm. Mizuho reiterates Micron as buy Mizuho raised its price target on the stock to $130 per share from $124. "We are upgrading PAGS to Outperform from In Line with a $18 target price."
Persons: Mizuho, Bernstein, Chipotle, CFRA, Morgan Stanley, Goldman Sachs, Goldman, Levi's, it's, Wells, Richard Dickson, Katrina O'Connell, Tesla, underperform Bernstein, it's bullish, Baird, Semtech, Jefferies, underperform Jefferies, Invivyd, Evercore, TD Cowen Organizations: Mizuho, Sands, MGM, Nvidia, Blackwell, Seagate, Nasdaq, UBS, JPMorgan, Taiwan Semiconductor, Navy, Micron, MU, Citi, Plains Energy, Bank of America, Spotify, Netflix, Apple Locations: Macau, Singapore, Westar, Kansas, Missouri, Argentina, Uruguay, Paraguay, China
Wells Fargo reiterates Citi as overweight Wells Fargo raised its price target on Citi to $80 per share from $70." "We initiate coverage of Kinetik Holdings Inc. with an Outperform rating and $40 price target." "We are initiating coverage of Motorola Solutions (MSI) with an Outperform rating and $400 Target price." Citi reiterates Netflix as neutral Citi raised its price target on Netflix to $660 per share from $555. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's standing by its overweight rating on the stock.
Persons: BoB, Mizuho downgrades Tesla, Wells, Wells Fargo, Kinetik, it's bullish, Huya, Raymond James downgrades Dave, Raymond James, Dave, Buster's, Morgan Stanley, it's, Evercore, Sealy, Raymond James downgrades Scotts, Tesla, MASI Organizations: Bank of America, Nvidia, Mizuho, Citi, RBC, Kinetik Holdings, Northland, Astera, of America, " Bank of America, Meta, Argus, Barclays, Adobe, ISI, Motorola Solutions, Netflix, Mattress, JPMorgan, PT, Raymond James downgrades Scotts Miracle, Gro, Scotts Miracle, Strong, MASI, UBS, Apple, Arista Networks, Arista Locations: China
Deutsche Bank reiterates Charles Schwab as buy Deutsche Bank raised its price target on the stock to $77 per share from $75. UBS reiterates Boeing as buy UBS said the risks are already priced in for Boeing shares. Loop reiterates Best Buy as buy Loop said the electronics giant is a "stealth housing play." UBS reiterates Micron as buy UBS said it is standing by its buy rating on the stock heading into earnings on Wednesday. UBS upgrades Cognex to buy from neutral UBS said the systems software company is "high quality growth at a discount."
Persons: Goldman Sachs, Charles Schwab, Bernstein, , Redburn, Cooper, Jefferies, ZM, Mizuho, Baird, KeyBanc, Raymond James, Morgan Stanley, Stephens, Guggenheim, Wells, Wells Fargo Organizations: Nvidia, Deutsche Bank, Northern Trust Deutsche Bank, Northern Trust, Apple, Google, Barclays, Cooper Companies, Citi, Honeywell, Honeywell International Inc, Union Pacific Corp, Mizuho, UBS, Boeing, Micron, TEAM, Logistics, Industries, JPMorgan, Systems, Bank of America, Avis Budget, OW, Equity, Accenture, Starbucks Locations: Snowflake, 2H24E, Truist
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