DIRS.INFO The most relevant business & tech news

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, First Solar, Netflix, Disney, Cava, Dell, Snowflake & more
▼ + stars: | 2024-05-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are the biggest calls on Wall Street on Wednesday: Bernstein reiterates Nvidia as outperform Bernstein said it's sticking with its outperform rating on the stock. " Argus upgrades Berkshire Hathaway to buy from hold Argus said it's getting bullish on shares of Warren Buffett's multinational conglomerate. UBS reiterates First Solar as buy UBS raised its price target on First Solar to $350 per share from $270. Bank of America reiterates Apple as buy Bank of America said it's bullish on top pick Apple and its entry into iPhones with AI. Bank of America reiterates Dell as buy Bank of America raised its price target on Dell to $180 per share from $130.

Persons: Bernstein, Berkshire Hathaway, Argus, it's, Fluence, LBRT, Jefferies, TD Cowen, Medpace, Cowen, Morgan Stanley, JPMorgan, Wells, Baird, MM120, Truist, Dell, Jack Hartung, Cindy Olsen Organizations: Nvidia, Argus, Warren, UBS, Citi, Liberty Energy, United Airlines, Airlines, American Airlines, " Bank of America, Apple, Bank of America, Netflix, Disney, RBC, Eldorado, Eldorado Gold, BTC, Citi downgrades Bank, JPMorgan, Mind, of America, Norwegian Cruise Line Holdings, Dell, Field Locations: Berkshire, U.S, OFS, United, El Paso, Parks, F4Q, CAVA, Chicago

☆ Stock market today: Dow drops 411 points as yields jump ahead of fresh economic data
▼ + stars: | 2024-05-29 | by ( Max Adams | Filip De Mott | ) www.businessinsider.com time to read: +2 min

Stocks fell on Wednesday ahead of fresh economic data on growth and inflation. A $44 billion auction of seven-year Treasury notes was met with tepid demand. Bond yields spiked for a second day, with the 10-year bond climbing by seven basis points to 4.61%. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . On Tuesday, a sale of two and five-year notes was priced to weaker demand from investors.

Persons: Stocks, —, Price Organizations: Service, Dow Jones Industrial, Treasury, Nasdaq, Nvidia

☆ 10-year Treasury rises as investors weigh state of economy
▼ + stars: | 2024-05-29 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by over two basis points to 4.5639%, holding above the 4.5% mark it initially crossed Tuesday. The 2-year Treasury yield was last less than one basis points higher to 4.9580%. U.S. Treasury yields were higher on Wednesday as investors considered the state of the economy and digested a weak auction on the five-year note. Yields climbed higher Tuesday after a Treasury Department auction of 5-year notes worth $70 billion saw weak demand. Investors also considered how the economy is faring and awaited fresh economic data due throughout the week which could inform Federal Reserve policymaking.

Persons: Neel Kashkari Organizations: Treasury, U.S, Treasury Department, Federal, Minneapolis, Tuesday, CNBC, Fed

☆ Wells Fargo CEO talks up reasons to love the stock — plus, what's behind the market drop
▼ + stars: | 2024-05-29 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Apple and Nvidia, our two "own, don't trade" stocks were also the top performers among the entire 33 stock Club portfolio. When the Federal Reserve at some point removes its asset cap on Wells Fargo, Scharf said corporate lending and trading will be areas of growth for the bank. 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, Hess, Merck, Morgan Chittum, Charlie Scharf, Scharf, Wells, Wells Fargo's, " Scharf, it's, Wells Fargo, Eli Lilly, CNBC's David Faber, Locker, Jim Cramer's, Jim Organizations: CNBC, Dow, Nvidia, American Airlines, Tech, Apple, Microsoft, ConocoPhillips, Chevron, Banking, Investing Club, Wells, Bernstein's, Investment Banking, Wealth Management, Federal Reserve, FDA, Club, Costco, Broadcom, Jim Cramer's Charitable Locations: Wells Fargo

☆ Salesforce shares plunge 16% on first revenue miss since 2006
▼ + stars: | 2024-05-29 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Analysts surveyed by LSEG had expected $2.40 in adjusted earnings per share on $9.37 billion in revenue. It's the first time since 2006 that Salesforce fell short on revenue, according to LSEG data. The company now expects adjusted earnings of $9.86 to $9.94 per share, compared with $9.68 to $9.76 three months ago. Analysts polled by LSEG were looking for $9.76 in adjusted earnings per share and $38.08 billion in revenue. During the quarter, Salesforce started selling its Einstein Copilot assistant sales and customer service reps.

Persons: Marc Benioff, LSEG, Salesforce, Einstein, Slack, Robert Hum Organizations: Economic, Revenue, Professional Services Locations: Davos, Switzerland

☆ Dollar steady ahead of inflation data, yen wobbles
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: +7 min

The dollar was stable on Wednesday on wagers the Federal Reserve is unlikely to cut rates until later this year ahead of crucial inflation readings this week, while the yen drifted to its weakest in four weeks. Market focus this week will be on a slew of inflation reports, with German inflation data due on Wednesday and the wider euro zone's reading on Friday. Market focus this week will be on a slew of inflation reports, with German inflation data due on Wednesday and the wider euro zone's reading on Friday. The pound was 0.13% higher at 200.68 yen, the strongest since August 2008, while the euro touched a one-month high of 170.795 yen earlier in the session. The yen, which is sensitive to Treasury yields, is down 10% for the year against the dollar but may yet scrape a monthly gain in May.

Persons: Sterling, Christopher Wong, Prashant Newnaha Organizations: U.S, Australian, FX, TD Securities Locations: U.S, Tokyo, Asia

☆ These dividend stocks top Thornburg's list — and they are trading at a discount
▼ + stars: | 2024-05-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Investors searching for income can find some bargains in dividend stocks, according to Ben Kirby, co-head of investments at Thornburg Investment Management. Now investors have an added benefit in that dividend stocks are selling at a big discount, he said. When looking for the right dividend stock, Kirby wants companies offering solid balance sheets and free-cash-flow, as well as competitive advantages and sustainable profit margins. Here are some of the stocks Kirby owns in his funds and that he particularly likes right now. If the reductions continue, coupled with the stock's dividend yield, "that alone will drive a pretty competitive return," Kirby said.

Persons: Ben Kirby, Kirby, Jane Fraser, we're, Fraser Organizations: Thornburg Investment Management, Kirby, Depot, Citigroup, JPMorgan Chase, CNBC, Citi, Time Warner

☆ Oil rises as major producers expected to keep output cuts in place
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose on Wednesday on expectations major producers will maintain production cuts at a meeting this Sunday at the same time fuel consumption should begin rising with the start of the peak summer demand season. Oil prices rose on Wednesday on expectations major producers will maintain production cuts at a meeting this Sunday at the same time fuel consumption should begin rising with the start of the peak summer demand season. The Memorial Day holiday on Monday signals the start of the peak demand season in the U.S., the world's biggest oil consumer, and keeping the production cuts in place should keep prices supported as consumption rises. The data was delayed by a day by the Memorial Day holiday on Monday. Investors also awaited U.S. inflation data this week that could sway expectations for Federal Reserve interest rate cuts that could be positive for oil prices.

Persons: Daniel Hynes, Investors Organizations: Brent, . West Texas, Traders, of, Petroleum, ANZ Bank, American Petroleum Institute, Federal Reserve Locations: Russia, OPEC, U.S, Gaza, Rafah, .

☆ Can Nvidia's astronomical growth last? One outperforming fund manager weighs in
▼ + stars: | 2024-05-29 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

For many investors, the million-dollar question is how far Nvidia can go or whether it can sustain its dramatic growth. Nick Griffin, chief investment officer at Munro Partners, has invested in Nvidia since 2019 — but even he is taken aback by the stock's astronomical run so far. Nvidia's outlook Griffin pointed to industry estimates that showed Nvidia is set to sell $100 billion of its AI accelerators in the next 12 months. Nvidia is currently the largest holding in Griffin's Munro Global Growth fund. Griffin also manages the Munro Concentrated Global Growth Fund and the Munro Global Growth Small and Mid Cap Fund.

Persons: Nick Griffin, CNBC's, Griffin, we've, there's, Munro Organizations: Nvidia, Munro Partners, Griffin's, Griffin's Munro Global, Fund Locations: Griffin's Munro

☆ Weekly mortgage demand drops to three-month low, as rates begin climbing again
▼ + stars: | 2024-05-29 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

After a brief pullback during much of May, mortgage rates began rising again last week. That had an immediate impact on what had been several weeks of strengthening mortgage demand. As a result, total mortgage application volume fell 5.7% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. "Borrowers remain sensitive to small increases in rates, impacting the refinance market and keeping purchase applications below last year's levels. Mortgage rates jumped sharply to start this week, rising 12 basis points just on Tuesday, according to a separate survey from Mortgage News Daily.

Persons: Joel Kan, Kan, Neel Kashkari Organizations: Mortgage, Mortgage News, Minneapolis Federal, CNBC Locations: Austin , Texas

☆ Britain’s Royal Mail has been bought by Czech billionaire Daniel Křetínský for $4.5 billion
▼ + stars: | 2024-05-29 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —The owner of Royal Mail has accepted a £3.5 billion ($4.5 billion) takeover bid from Czech billionaire Daniel Křetínský, paving the way for the sale of one of Britain’s oldest and most iconic institutions to a foreign owner for the first time. The deal follows a torrid few years for Royal Mail, which was privatized in 2013. “Royal Mail is as British as it gets, and Labour will take the necessary steps to safeguard its undeniable identity and place in public life,” he wrote in the letter, which he posted on X. A low-profile Czech national, Křetínský made his fortune through a sprawling empire of European energy companies, retailers and football clubs. He is worth an estimated $7.7 billion, according to the Bloomberg Billionaires Index, and owns a 27% stake in West Ham United Football Club.

Persons: Daniel Křetínský, Křetínský’s, Jonathan Reynolds, ”, Křetínský Organizations: London CNN, Royal Mail, Distribution Services, Labour Party, Conservative, Labour, Royal, Bloomberg, West Ham United Football Club Locations: Czech, United Kingdom, West

☆ May Richmond Fed manufacturing index remains unchanged
▼ + stars: | 2024-05-29 | 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 EmailMay Richmond Fed manufacturing index remains unchangedCNBC's Rick Santelli reports on the latest economic data to cross the tape.

Persons: Rick Santelli Organizations: Richmond Fed

After finally dropping below 7% earlier this month, 30-year mortgage rates have been holding relatively steady in the mid-to-high 6% range, according to Zillow data. Once the Fed is able to start lowering rates, mortgage rates are expected to fall. Mortgage rates are expected to go down this year, but they might not drop as much as initially expected. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, Fannie Mae Organizations: Federal, Consumer, Mortgage, Zillow, Association, Sky Locations: March's, Chevron

☆ 5 AI companies that could go public, including one founded by Elon Musk — and how retail investors can buy shares before they hit the stock market, according to a venture capitalist
▼ + stars: | 2024-05-29 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

This means there's a lag time when selling private shares, unlike stocks that can be sold within a millisecond of hitting a button. AdvertisementFinally, when a company goes public, there's a lock-up period. Depending on the platform the shares were purchased through, pre-IPO holders may still sell their shares to others within the platform, Endoso said. One example of a private AI company that recently went public in late March is Astera Labs (ALAB), which was trading near $69 as of Tuesday. 5 early-stage AI companiesAs for forward-looking AI investment opportunities with IPO prospects, Endoso pointed to five promising companies he's excited about.

Persons: —, scurrying, Russell, It's, Joe Endoso, it's, Endoso, there's, Anthropic, Claude, Elon Musk Organizations: Service, Business, Venture, Cambridge Associates, Venture Capital, Securities and Exchange Commission, Astera Labs, Endoso, Bloomberg, Elon, Nvidia

☆ This signal could be good news for the stock market
▼ + stars: | 2024-05-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Some analysts think that means good news for stocks in the second half of the year. While [gross domestic product] and the labor market seem to be slowing, earnings are accelerating,” wrote the Bank of America analysts. That means an improving manufacturing cycle but slowing services can lead to a divergence between market performance and economic performance. “We’ve witnessed records repeatedly break in both stock and housing markets over the past year.”In addition to unrelentingly high home prices, the housing market is also grappling with a chronic lack of homes on the market and elevated mortgage rates. Put together, it has resulted in a tough housing market, especially first-time buyers.

Persons: Dow, PMIs, ”, Brian Luke, “ We’ve, Read, Apple’s Siri, Siri, Samantha Murphy Kelly, Tim Cook, ” Read Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Institute for Supply Management, PMI, Bank of America, Dell, Marvell, Costco, Dow Jones, Developers Conference, Google, Samsung, ” Apple Locations: New York, San Diego , New York, Cleveland, Los Angeles

☆ Nasdaq closes at record high, Fed's Kashkari seeks more inflation data for rate cuts, GameStop soars
▼ + stars: | 2024-05-29 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Dow Jones Industrial Average fell more than 200 points after hawkish comments from Minneapolis Federal Reserve President Neel Kashkari. Fed's Kashkari seeks more inflation dataThe Federal Reserve should wait for significant progress on inflation before cutting interest rates, Kashkari told CNBC on Tuesday. GameStop soarsShares of GameStop jumped more than 20% after the video game retailer announced it raised $933 million from a share offering. [PRO] Riding the AI boomCNBC's Todd Gordon analyzes a cybersecurity company that could benefit from investor enthusiasm for artificial intelligence-related stocks.

Persons: Neel Kashkari, Fed's Kashkari, Kashkari, Vasu Raja, Raja, Korea's, Hang Seng, Todd Gordon Organizations: CNBC, Nasdaq, Nvidia, Dow Jones, Minneapolis Federal, Federal, American Airlines, GameStop, Japan's Nikkei, China's CSI, International Monetary Fund Locations: Minneapolis, Asia, Pacific

☆ Stock futures slide as Salesforce tumbles on revenue miss and soft guidance: Live updates
▼ + stars: | 2024-05-29 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

U.S. stock futures fell Wednesday night as shares of Salesforce slid on a quarterly revenue miss and soft guidance. S&P 500 futures slid 0.3% and Nasdaq-100 futures fell 0.4%. The company's earnings and revenue outlook for the second quarter also fell short of the Street's estimates, as did full-year revenue guidance. The S&P 500 declined 0.7%, and the Dow slid nearly 1.1%. More than 400 stocks in the S&P 500 were negative on the day, and all 11 sectors tumbled.

Persons: Salesforce, Dow, Ross Mayfield, Baird, Mayfield, Nordstrom Organizations: New York Stock Exchange, Dow Jones, Nasdaq, American Eagle Outfitters, Nvidia, Treasury, Federal, Dell Technologies, Costco

☆ Berkshire Hathaway gets an upgrade to buy, citing cheap valuation
▼ + stars: | 2024-05-29 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Berkshire Hathaway looks like an attractive investment, according to Argus. "On valuation, the stock is trading at 21-times our 2024 operating EPS forecast, below the current S & P 500 multiple of 24-times," Heal wrote. This discounted valuation comes even as Berkshire Hathaway Class A shares are up 12% for the year, outpacing the broad market index. Heal pointed out that Berkshire has consistently shown strong performance, with its stock returns doubling those of the S & P 500 since 1965. To be sure, Heal pointed to several risks Berkshire faces, including the cyclicality of many of its fully-owned businesses.

Persons: Berkshire Hathaway, Warren Buffett, Kevin Heal, Heal, Chubb Organizations: Berkshire Hathaway, Berkshire Locations: Argus, Berkshire

☆ CNBC Pro Talks: Beyond Nvidia: Outperforming fund manager to reveal the AI stocks to buy
▼ + stars: | 2024-05-28 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

As the hype surrounding artificial intelligence shows no signs of abating, one tech fund manager is set to reveal her top ways to play the AI theme. On Wednesday's Pro Talks, Pleydell-Bouverie — who co-manages Lionstrust's global tech, innovation and dividend funds — will name companies that are "selling the picks and shovels for AI" and are "already making money." Pleydell-Bouverie manages the Liontrust Global Innovation, Liontrust Global Dividend and Liontrust Global Technology funds. Over the year to the end of March, all three funds have beaten their benchmark indexes, with the Liontrust Global Technology Fund rising 51.9%, compared to the MSCI World Information Technology Index's 39.1%. Learn more from our previous Pro Talks: Should investors buy the dip in Lululemon?

Persons: Clare Pleydell, Bouverie —, Bouverie Organizations: Liontrust, Management, Big Tech, Tech, Liontrust Global Technology, Liontrust Global Technology Fund, Technology, CNBC, Nvidia Locations: London, Singapore

The Melbourne skyline is reflected in the Maribyrnong River in the early morning light on April 18, 2023. Asia-Pacific markets were range bound on Tuesday as investors assess comments from the European Central Bank officials signaling that rate cuts may be on the horizon for the world's largest economic bloc. Japan's Nikkei 225 also was trading close to the flatline, with the broad based Topix also near flat. In a speech Monday, Olli Rehn, ECB governing council member and head of Finland's central bank, stressed inflation in the euro area was falling in a "sustained way." Inflation in the euro zone held steady at 2.4% in April, marking the seventh straight month it has been below 3%, despite a slight rebound in December.

Persons: Kospi, Olli Rehn Organizations: European Central Bank, Nikkei Locations: Melbourne, Maribyrnong, Asia, Pacific, Australia

☆ UBS raises S&P 500 target to Street-high 5,600 on stronger earnings growth
▼ + stars: | 2024-05-28 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

UBS raised its year-end S & P 500 target to 5,600 on better-than-expected earnings growth and falling risks of a recession. The new target Tuesday from strategist Jonathan Golub is tied for the highest on Wall Street with Brian Belski of BMO. UBS notes that earnings growth for the first quarter was expected to be just 4.1% — but is on track to reach 10.6% once all S & P 500 companies have reported. Wall Street strategists have scrambled recently to keep up with 2024's surprising rally on the back of artificial intelligence enthusiasm and a strong economy. After a series of recent increases, the median target on Wall Street is now 5,300.

Persons: Jonathan Golub, Brian Belski, Golub Organizations: UBS, BMO, CNBC Pro, Survey, Chicago, Federal Locations: Friday's

☆ Oil prices steady as investors await inflation data, OPEC+ meeting
▼ + stars: | 2024-05-28 | by ( ) www.cnbc.com time to read: +2 min

Oil prices were steady in early Asian trading on Tuesday as investors awaited inflation data to assess future U.S. monetary policy and the production policy decisions from the OPEC+ meeting on June 2. The U.S. personal consumption expenditures index expected this week will be in the spotlight for further signals about interest rate policy. The index, due to be released on May 31, is viewed as the U.S. Federal Reserve's preferred measure of inflation. German inflation data on Wednesday and euro zone readings on Friday will also be watched for signs of a European rate cut that traders have penciled in for next week. All eyes are also be on the upcoming online meeting of the OPEC+ on June 2.

Persons: Brent, Satoru Yoshida, U.S . Federal Reserve's, Goldman Sachs Organizations: . West Texas, Rakuten Securities, Organization of, Petroleum, U.S, U.S . Federal Locations: New Mexico, U.S, Friday's, Britain, United States, OPEC, U.S .

☆ Dollar ebbs as markets await key global inflation reports
▼ + stars: | 2024-05-28 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, a person is seen holding 100, 50, and 5 U.S. dollar bills in his hand. The dollar waned on Tuesday following a slight pick up in risk appetite, but it held tight ranges against its peers ahead of key inflation data from major economies this week that markets are looking to for guidance on the global interest rate outlook. The euro was a touch firmer at $1.0860 despite some dovish comments from European Central Bank policymakers on Monday and data showing German business morale stagnated in May. Down Under, the Aussie edged 0.03% higher to $0.6657, with the country's monthly consumer price index data also due on Wednesday. BOJ Governor Kazuo Ueda said on Monday the central bank will proceed cautiously with inflation-targeting frameworks, noting that some challenges are "uniquely difficult" for Japan after years of ultra-easy monetary policy.

Persons: Rodrigo Catril, Sterling, NAB's, Kazuo Ueda, bitcoin Organizations: U.S, European Central Bank, ECB, National Australia Bank, New Zealand, Down, Bank of Japan Locations: Asia, Britain, United States, U.S, Tokyo, Japan

☆ Stock market today: Nasdaq hits record ahead of new inflation data
▼ + stars: | 2024-05-28 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

The Nasdaq hit a record in early trading on Tuesday while other indexes were mixed. Traders are awaiting PCE inflation data on Friday. Markets will also digest housing data and revised GDP numbers for the first quarter. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAlso this week, another round of Fed speakers will deliver commentary on the path of the economy, inflation, and interest rates.

Persons: —, Neel Kashkari, Kashkari Organizations: Nasdaq, Traders, Service, PCE, Minneapolis, CNBC, Wedbush, Apple

☆ Stock futures are little changed after the Nasdaq Composite posts a record close: Live updates
▼ + stars: | 2024-05-28 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Stock futures were little changed Tuesday night after the Nasdaq Composite rose to a fresh record. S&P 500 futures ticked down 0.06%, while Nasdaq 100 futures hovered near the flatline. The tech-heavy index was an outlier, however, as the S&P 500 edged higher by just 0.02%, and the 30-stock Dow slid nearly 0.6%, dragged lower by a decline in Merck shares. The S&P 500 is up 5.4% this month, while the Dow has advanced 2.7%. Indeed, fed funds futures trading data suggests a nearly 54% chance that rates will hold steady in September, according to the CME FedWatch Tool.

Persons: Dow, Tom Lee Organizations: Nasdaq, Dow Jones, . American Airlines, JetBlue, Southwest Airlines, Nvidia, Merck, Dow, Federal, Fundstrat Global Advisors

Search resuls for: "Index"

25 mentions found