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☆ Pinduoduo: Americans are flocking to Temu and making its Chinese owner very rich
▼ + stars: | 2024-05-23 | by ( Laura He | ) edition.cnn.com time to read: +4 min

The Shanghai-based company reported Wednesday that net profit soared 246% to 28 billion yuan ($3.9 billion) in the first quarter of 2024, more than double the average analyst estimate of 12.62 billion yuan ($1.7 billion), according to LSEG data. Revenue jumped 131% to 86.81 billion yuan ($12 billion) in the period, also comfortably beating expectations. He is still the company’s biggest shareholder, with a stake of 25% stake, and ranks as China’s second richest man with a fortune of nearly $52 billion, according to the Bloomberg Billionaires Index. Temu, PDD’s international app, was launched in 2022, and as of last November it had acquired nearly 17% of the US online discount store market, according to Earnest Analytics. Last month, South Korean regulators investigated Temu on suspicion of false advertising and unfair ppractices, according to the Yonhap news agency.

Persons: Nomura, PDD, Colin Huang, Pinduoduo, Alibaba’s Taobao, Morgan Stanley, ”, Lei Chen, Chen Organizations: Hong Kong CNN — PDD Holdings, Revenue, Nasdaq, Bloomberg, Data Locations: Hong Kong, Shanghai, “, PDD’s, Alibaba, Hangzhou, Beijing, China, European

☆ Hedge funds loaded up on financial and tech stocks in the first quarter—Here's what they picked
▼ + stars: | 2024-05-23 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Hedge funds added more exposure to financial and tech names in the last quarter, according to Morgan Stanley. Castagno highlighted that in the last quarter, hedge funds seemed to shift their portfolio allocations toward the information technology and financials sectors, moving away from health care. However, hedge funds still remain most overweight stocks within the health care, consumer discretionary and industrials industries. Hedge funds have recently increased their ownership shares in retailer Bath & Body Works by 2.5%. Wolfe Research upgraded shares of Alaska Air Group to outperform from peer perform last Friday.

Persons: Morgan Stanley, Todd Castagno, Castagno, A.J, — CNBC's Michael Bloom Organizations: Securities and Exchange, Universal Health Services, UBS, Body, JPMorgan, Airline, Alaska Air Group, Wolfe Research, TPG, DXC Technology, Avis Budget Group Locations: Rice, Bath, Coast

The Haley rationale for backing TrumpAfter months of speculation, Nikki Haley said — in her first appearance since dropping out of the Republican presidential primary — that she would vote for Donald Trump, the man against whom she waged a sometimes scathing campaign. But it may provide cover to prominent donors like Ken Griffin who in recent weeks has suggested that he might come in from the cold and donate to Trump. Deep-pocketed Republicans flocked to Haley during the primary. “I think she is just what we need right now,” Langone said on Fox News. “What Trump put this country through the last three months of his presidency was disgraceful.”But donors are rethinking their aversion to Trump, who handily beat Haley and other rivals and is now leading President Biden in some polls.

Persons: Haley, Nikki Haley, —, Donald Trump, Ken Griffin, Griffin, Paul Singer, Henry Kravis, Barry Sternlicht, Cliff Asness, Stanley Druckenmiller, Ken Langone, Reid Hoffman, wasn’t Trump, Nikki, ” Sternlicht, ” Langone, Trump, Biden, White, Israel Organizations: Trump, Republican, PAC, Elliott Management, KKR, Starwood Capital, AQR Capital Management, Democratic, LinkedIn, Times, Fox News Locations: Gaza

☆ James Gorman is bringing his 18-year stint at Morgan Stanley to an end
▼ + stars: | 2024-05-23 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

Morgan Stanley chairman James Gorman is stepping down at the end of the year. The former CEO revealed his plans at the bank's annual shareholder meeting. Gorman joined Morgan Stanley in 2006 and helped steer the bank through the financial crisis. AdvertisementJames Gorman will leave Morgan Stanley at the end of 2024, bringing an 18-year stint at the investment bank to a close. The chairman revealed his plans on Thursday at the bank's annual meeting, outlets including Bloomberg and Reuters reported.

Persons: Morgan Stanley, James Gorman, Gorman, —, Ted Pick Organizations: Service, Bloomberg, Reuters, Business

☆ Stocks making the biggest moves before the bell: NVDA, LYV, SNOW
▼ + stars: | 2024-05-23 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Snowflake posted $829 million in revenue, while analysts polled by LSEG had called for $786 million. Adjusted earnings for the period came in at 14 cents a share, however, missing the consensus estimate by 4 cents. Beauty — The cosmetics maker added 3.4% after easily surpassing consensus forecasts from analysts surveyed by FactSet for the fiscal fourth quarter. posted 53 cents in earnings per share, excluding items, on $321.1 million in revenue, while analysts penciled in just 33 cents on $292.6 million in revenue. On top of that, LiveRamp offered firm revenue guidance for both the current quarter and full year.

Persons: Snowflake, LSEG, NetEase, FactSet, e.l.f, LiveRamp, Cytokinetics, Goldman Sachs, Morgan Stanley, Ed Bred, Lori Koch, Alibaba, GoodRX, —, Jesse Pound, Pia Singh, Yun Li, Tanaya Macheel, Sarah Min, Michelle Fox Organizations: Nvidia, Micro, Taiwan Semiconductor, Bloomberg, Department of Justice, of, News, Corp, JPMorgan, DuPont de Nemours, DuPont, Bloomberg News, Bank of America, RBC, Hasbro —, Hasbro Locations: Southern, of New York, —

☆ Morgan Stanley tells investors to avoid hedge funds' overcrowded trades
▼ + stars: | 2024-05-23 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Owning overcrowded trades that are most popular among hedge funds could be risky for individual investors in the event of a herd-like stampede by systematic traders, according to Morgan Stanley, which looked at stocks to avoid. Despite their popularity and performance, none of the megacap tech stocks made the list of overcrowded stocks. That's because their enormous share count makes hedge funds' ownership less significant. Morgan Stanley found that hedge funds were most overweight in consumer discretionary, industrial and health care stocks last quarter, while they were most bearish on technology and consumer staples companies. Janus Henderson , The New York Times , Planet Fitness and Wayfair were also on the list of crowded trades.

Persons: Morgan Stanley, Russell, Howard Hughes, Janus Henderson, — CNBC's Michael Bloom Organizations: Avis Budget Group, Howard Hughes Holdings, The New York Times Locations: The

☆ JPMorgan's private bank is launching a generative AI tool. A top exec walks us through her tech strategy and how she wants to transform bankers' jobs.
▼ + stars: | 2024-05-23 | by ( Bianca Chan | Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

JPMorgan is testing a generative AI "copilot" within its private bank, a move that is already saving advisors a couple of hours a day. AdvertisementHow Donnelly's team drives innovation in the private bankJPMorgan's private bank caters to clients with at least $10 million in assets. The unit's $974 billion in assets are managed by just over 3,500 client advisors. When the CEO of JPM's private bank tapped an advisor with little to no technical experience to lead digital product for his division, it was intentional. He didn't "want the individuals that are deciding the advisor experience and client experience not to sit amongst the front-office users," she said.

Persons: Karen Donnelly, Donnelly, Morgan Stanley, Mary Erdoes, Dan Pinto's, JPMorgan's, She's, aren't, David Frame, —, Donnelly doesn't, gunning Organizations: Service, JPMorgan, Business, Advisors, ChatGPT

☆ Stocks making the biggest moves after hours: Nvidia, Snowflake, VF Corp. and more
▼ + stars: | 2024-05-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines after the bell : Nvidia — The chipmaker added about 4% after announcing a 10-for-1 stock split . Nvidia also surpassed Wall Street's fiscal first-quarter estimates on the top and bottom lines, and it issued strong guidance for the current quarter. Fiscal first-quarter revenue surpassed the Street's expectations, coming in at $829 million, versus consensus estimates for $786 million, per LSEG. — The apparel and footwear company sank 9% after posting an unexpected loss for the recent quarter and revenue that fell short of Wall Street's estimates. VF Corp. posted a loss of 32 cents per share on $2.37 billion in revenue.

Persons: LSEG, FactSet, Synopsys, LiveRamp, Dow Jones, Goldman Sachs, Morgan Stanley, Ed Breen, Lori Koch, Breen, —, Darla Mercado, Sarah Min, Scott Schnipper, Christina Cheddar, Berk Organizations: Nvidia, Super Micro, Devices, Corp, VF Corp, LiveRamp Holdings, News Corp, JPMorgan, DuPont de Nemours, DuPont

☆ Nvidia reports earnings after the bell: Here's what you need to know
▼ + stars: | 2024-05-22 | 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 EmailNvidia reports earnings after the bell: Here's what you need to knowJoseph Moore, Morgan Stanley semiconductor analyst, joins 'Squawk Box' to discuss what to expect from Nvidia's quarterly earnings results, if there will be a pause in sales from Nvidia, and much more.

Persons: Joseph Moore, Morgan Stanley Organizations: Nvidia

☆ These bank stocks are expensive, along with JPMorgan, using Jamie Dimon’s math
▼ + stars: | 2024-05-22 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Tangible book value , a common yardstick used to value banks, measures shareholder equity minus the value of a bank's intangible assets and goodwill. Following Dimon's comments, CNBC Pro screened for banks in the S & P 500 that also sport a price-to-tangible book value of 2 or more. With a price-to-tangible book value of 2.6, Bank of New York Mellon was the most expensive name on the list. Similar to JPMorgan, Fifth Third Bancorp has a price-to-tangible book ratio of 2. Other names on the list of expensive bank stocks included U.S. Bancorp and Discover Financial Services .

Persons: Jamie Dimon's, JPMorgan Chase, Dimon, We're, Morgan Stanley, Betsy Graseck, Graseck, Bank of New York Mellon, Vivek Juneja, —, Fred Imbert Organizations: JPMorgan, CNBC Pro, Bank of New York, Fifth Third Bancorp, . Bancorp, Discover Financial Services Locations: Monday's, Cincinnati

☆ Morgan Stanley's Slimmon names tech stocks to buy at a 'reasonable price'
▼ + stars: | 2024-05-22 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Morgan Stanley Investment Management's Andrew Slimmon has been consistently bullish on stocks — even during periods of volatility. Given the "sky high" inflation numbers in 2022 and 2023, Slimmon said, it's "only natural" that inflation would be on a downward trajectory as the year-on-year comparisons were "relatively easy." Last week, the April consumer price index report in the U.S. showed that inflation eased slightly for the month. "The problem is, as we get into May number, June numbers, July numbers of last year, those CPI numbers really came down quite a bit," Slimmon told CNBC's " Street Signs Asia. " "When you think about Netflix, Amazon, you're talking about two [companies] that give a lot of value to their customers for a relatively reasonable price," Slimmon said.

Persons: Morgan Stanley, Andrew Slimmon, it's, Slimmon, CNBC's, —, Jeff Cox Organizations: Morgan Stanley Investment, CNBC, U.S . Federal Reserve, Treasury, Federal Reserve, Netflix, United Rentals, Waste Management Locations: U.S

☆ AI darling Nvidia reports after the bell. What Wall Street is watching
▼ + stars: | 2024-05-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Wall Street will be keeping close watch on what Nvidia says about demand for its artificial intelligence chips when the market-moving chipmaker reports quarterly results after the bell Wednesday. Nvidia is expected to surpass expectations again, with analysts polled by LSEG calling for earnings of $5.59 per share on $24.65 billion in revenue. "As long as it tops analyst expectations, NVIDIA is likely to remain a key tailwind for the overall U.S. stock market." NVDA 1Y mountain Shares over the last year For multiple quarters, Nvidia has shocked Wall Street with the robust demand for its tools. "We continue to expect a strong beat-and-raise quarter from NVIDIA as Hopper demand remains robust before the Blackwell transition," wrote Morgan Stanley's Joseph Moore.

Persons: they've, Wolfe, Chris Senyek, Hopper, Blackwell, Morgan Stanley's Joseph Moore, Piper Sandler's Harsh Kumar, Rosenblatt's Hans Mosesmann, Baird's Tristan Gerra, Tom O'Malley, Baird's Gerra, Nvidia's Blackwell, America's Vivek Arya, Arya, Timothy Arcuri, Rosenblatt's Mosesmann, O'Malley, Morgan Stanley's Moore Organizations: Nvidia, NVIDIA, Blackwell, Barclays, Bank, America's, UBS Locations: Nvidia's

☆ Here are Wednesday's biggest analyst calls: Nvidia, Meta, Tesla, Chipotle, Ferrari & more
▼ + stars: | 2024-05-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Wednesday's biggest calls on Wall Street: Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla but says it's only a matter of time before others automakers begin to take advantage of AI also. Morgan Stanley reiterates Meta as overweight Morgan Stanley said that, as users adopt the company's Reels product it becomes a "monetization opportunity." Morgan Stanley reiterates Dell as a top pick Morgan Stanley said Dell remains a favorite name at the firm. Morgan Stanley reiterates McDonald's as overweight Morgan Stanley said it's standing by the fast-food chain. Morgan Stanley reiterates Ferrari as overweight Morgan Stanley said it's standing by its overweight rating on the automaker.

Persons: Morgan Stanley, Tesla, Piper Sandler, Piper, Meta, Dell, JMP, Oppenheimer, it's, Goldman Sachs, Goldman, Kraft Heinz, McDonald's, Rosenblatt, John Malone, Sportico, Morgan Stanley downgrades, Generac, Jefferies, Needham, Stryker, Ferrari, MSFT Organizations: GM, Ford, Nvidia, Blackwell, ODM, Lenovo, Dell, China Tech Hardware, Costco, " Bank of America, Bank of America, Kraft, Brunswick, UBS, Brunswick Corporation, Atlanta Braves Holdings, Deutsche Bank, Waste Management, Deutsche, Price, Jefferies, Prudential, Lincoln National, Microsoft, Garmin, of America Locations: Coinbase, Shopify

Analyst Ronald Epstein downgraded the electronics maker to underperform from neutral and slashed $15 off his price target to $150. Analyst Rupesh Parikh reiterated his outperform rating on the wholesaler, while lifting his price target by $45 to $850. Analyst Tal Liani reiterated his buy rating on the software stock and price target of $315. Analyst Gabriela Borges upgraded the retail software stock to buy from neutral and raised her price target by $7 to $74. He also slapped a $42 price target on the stock, implying upside of nearly 17%.

Persons: Goldman Sachs, Piper Sandler, Kraft Heinz, Ronald Epstein, Epstein, — Alex Harring, Oppenheimer, Rupesh Parikh, Parikh, Alex Harring, Daniel Grosslight, Grosslight, HIMS, he's, Tal Liani, Liani, CORA, it's, Morgan Stanley, Josh Baer, Baer, Box's, there's, Goldman, Gabriela Borges, Borges, Shopify, Michael Lavery, Lavery, KHC, Fred Imbert Organizations: CNBC, Garmin Garmin, Bank of America, Garmin, Costco, Citi, Kraft, ~$ Locations: Tuesday's, Swiss, Shopify

☆ Stocks making the biggest moves premarket: Target, Lululemon, Shopify and more
▼ + stars: | 2024-05-22 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Target — Target's shares tumbled more than 7% after first-quarter earnings missed estimates, driven by a year-over-year sales decline of about 3% as consumers bought fewer discretionary items. Shopify — The retail software stock rose 2.6% following a Goldman Sachs upgrade to buy from neutral. Urban Outfitters — The clothing retailer added 1.8% after beating Wall Street estimates for fiscal first-quarter results. PDD — PDD Holdings, the Chinese parent of discount retailer Temu, gained 7.6% after reporting a 131% increase in first-quarter revenue. Analysts surveyed by LSEG were looking for $4.14 per share on $2.53 billion of revenue.

Persons: —, Goldman Sachs, Morgan Stanley, Alex Harring, Jesse Pound, Sarah Min Organizations: Outfitters, Wall, Urban, PDD Holdings, Toll, Citi, Wall Street Journal

☆ Wall Street advisors are flocking to this small law firm to claw back pay from wealth giants like Morgan Stanley and Merrill Lynch
▼ + stars: | 2024-05-21 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

For Ajamie LLP, a Houston law firm with 11 attorneys, taking on banks with billion-dollar war chests is becoming a booming business. This ruling was used by a lawyer on another case, Ohio-based Alan Rosca, to secure a $3 million judgment against Morgan Stanley on March 25. He said he has been contacted by advisors hailing from "really any financial firm that offers deferred compensation to financial advisors." During that suit, Ajamie was contacted by Matt Shafer, the lead plaintiff in the Morgan Stanley case. The Morgan Stanley suit inspired Kelly Milligan, now the named plaintiff in the Merrill Lynch class action, to reach out.

Persons: —, Jack Edwards, Edwards, Morgan Stanley, Morgan Stanley's, Alan Rosca, Merrill Lynch, Sen, Ted Cruz, Wells Fargo, Wells, Ajamie, Matt Shafer, Kelly Milligan, It's Organizations: Service, Ajamie LLP, Business, University of Virginia School of Law, Big Law, RBC Capital Markets, Financial Industry Regulatory Authority Locations: Houston, Ohio, Ajamie, Texas, Carolina

☆ Morgan Stanley says shares of this Nvidia supplier could pop if AI leader gives a good forecast
▼ + stars: | 2024-05-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

One semiconductor supplier could win big from a strong outlook from chip giant Nvidia , according to Morgan Stanley. " TSMC is the sole supplier for NVDA AI GPU, so we view NVDA's July-quarter revenue guidance, due on May 22, as a key catalyst," wrote analyst Charlie Chan. "We would expect TSMC's share price to rise if NVDA's guidance were to beat expectations." Investors will closely monitor Nvidia's July revenue guidance, which the market regards as one of the most significant indicators of AI server demand. U.S.-listed shares of Taiwan Semiconductor have rallied 47% this year.

Persons: Morgan Stanley, Charlie Chan, Chan Organizations: Nvidia, Taiwan Semiconductor, Wall, U.S Locations: 2024e

☆ Nvidia is talk of the town at AI events leading into this week’s earnings
▼ + stars: | 2024-05-21 | by ( Kif Leswing | ) www.cnbc.com time to read: +6 min

"We're still really early in the AI build," Niles told CNBC's "Money Matters" on Monday. "If you look at today for the AI build out, who's really driving that?" Lam Yik Fei | Bloomberg | Getty ImagesPrior to the recent AI boom, Nvidia was known as the primary maker of chips used for 3D gaming. That's not to say that Nvidia is at risk of losing a ton of the AI chip business to rivals. Piper Sandler analysts expect it to keep at least 75% of the AI accelerator market, even as companies like Google build their own custom chips.

Persons: Jensen Huang, Josh Edelson, Sundar Pichai, that's, Dan Niles, Niles, We're, CNBC's, Bernstein, Mark Zuckerberg, Huang, Lam, Fei, That's, Piper Sandler, Harsh Kumar, Blackwell, Hopper, Morgan Stanley, Joseph Moore Organizations: Nvidia, Intelligence, SAP Center, Afp, Getty, Google, Blackwell, Microsoft, Meta, Niles Investment Management, Cisco, Apple, Nvidia Corp, Bloomberg Locations: San Jose , California, Redmond , Washington, Taipei, Taiwan

☆ Here's how Disney’s streaming business can work toward Netflix-like profitability
▼ + stars: | 2024-05-21 | by ( Paulina Likos | ) www.cnbc.com time to read: +14 min

Disney's streaming margins, while still negative due to losses and nowhere near Netflix's, have improved significantly in recent quarters and are now on the doorstep of an important milestone. Disney's streaming overview Disney+ is its flagship streaming service across the globe. The ARPU discrepancy on Disney+ core helps explain why Netflix is much more profitable than Disney's streaming business. Given that Disney's streaming business has rolled out pretty much everywhere across the globe, Cruetz said moving forward "it's about driving more penetration in those markets." The latest is a matchup with Disney and HBO's parent Warner Bros Discovery , whose flagship streaming service is called Max.

Persons: Bob Iger, Disney, Iger, Covid, Morgan Stanley, It's, That's, Cowen, Doug Creutz, Hulu's, Cowen's Cruetz, Brandon Nispel, Cruetz, TD Cowen, Max, Creutz, cannibalization, it's, KeyBanc's Nispel, Wells Fargo, Jim Cramer's, Jim Cramer, Jim, Presley Ann Organizations: Disney, Netflix, ESPN, Reliance Industries, Century Fox, CNBC, Comcast, Capital, Warner Bros Discovery, Getty Locations: Netflix's, Hulu, India, Malaysia, Philippines, Thailand, U.S, Canada, Europe, Africa, West Asia, Los Angeles

☆ Nestle to launch Vital Pursuit frozen-food brand targeting GLP-1 users
▼ + stars: | 2024-05-21 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Nestle is launching a new frozen-food brand, Vital Pursuit, aimed at the growing market of consumers who are using GLP-1 drugs like Ozempic and Wegovy. In October, Walmart's U.S. CEO John Furner told Bloomberg that people who pick up GLP-1 drugs from its pharmacies are buying less food, typically with fewer calories. But Nestle sees an opportunity to cater to those consumers through Vital Pursuit. Vital Pursuit's packaging won't include mentions of GLP-1 medications, but Nestle said the company will more directly connect the brand to the drugs on social media. The food company expects that its global growth will slow this year as inflation-weary consumers buy less of its products.

Persons: Oprah Winfrey, Elon, Morgan Stanley, John Furner, Nestle, Steve Presley, Laffy, Ferrero, Presley Organizations: Nestle, Walmart's U.S, Bloomberg, Vital, North, CNBC, Toll, Lean, Swiss Locations: U.S, GLP

☆ AI demand will push the power grid to the brink. Morgan Stanley says these stocks could benefit
▼ + stars: | 2024-05-21 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Companies that manufacture small, quickly deployable natural gas turbines and generators are poised to benefit as surging electricity demand from data centers creates major delays in adding new capacity to the power grid, according to Morgan Stanley. "We believe this greater appreciation for the current grid connectivity challenges will heighten investor interest in/focus on emerging 'time to power' solutions," the analysts told clients. Power projects waiting for connection to the Lone Star state's grid have surged from 17 gigawatts to about 40 gigawatts in less than two years, according to the analysts. There is also an extensive wait time for diesel-powered, backup generators for new data center projects, according to Morgan Stanley. Companies such as Cummins and Caterpillar are also poised to benefit because they manufacture natural gas-powered generators that provide backup power onsite, according to Morgan Stanley.

Persons: Morgan Stanley, Cummins Organizations: Lone Star, GE Vernova, Siemens Energy, Cummins, Caterpillar, GE Locations: U.S, Texas

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Dell, Tesla, Disney, Gap, Hewlett Packard & more
▼ + stars: | 2024-05-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are the biggest calls on Wall Street on Tuesday: Morgan Stanley reiterates Tesla as overweight Morgan Stanley made the case in a note to investors that Elon Musk needs Tesla "more than ever before." Citi initiates Ferrovial at buy Citi said it's bullish on shares of the Dutch infrastructure and transportation company. Citi reiterates Dell as buy Citi raised its price target on the stock by 36% to $170 per share from $125. Morgan Stanley reiterates Apple as overweight Morgan Stanley said its checks show accelerating App Store growth ahead of expectations for Apple. Morgan Stanley names Taiwan Semiconductor a catalyst-driven idea Morgan Stanley said TSM is a likely beneficiary of a solid Nvidia earnings report on Wednesday.

Persons: Morgan Stanley, Tesla, Elon, Raymond James, Baird, it's, Evercore, Piper Sandler downgrades Sunnova, Piper, Brinker, Argus, Apple, TSM, NVDA, it's bullish, Lenz, LENZ Organizations: Elon, Caesars Entertainment, Penn, Penn Entertainment, Boyd Gaming Corporation, Inc, PENN Entertainment, JPMorgan, Therapeutics, Citi, Nvidia, Sunnova, Disney, Dell, Barclays, HP, Brinker International Inc, Apple, Taiwan Semiconductor, Gap Citi, GPS, " Bank of America, Lenz Therapeutics, Bank of America, Deutsche Bank, Deutsche, Recovery Software

☆ The last bear on Wall Street: Why JPMorgan's Marko Kolanovic is sticking by his forecast for a 20% market sell-off
▼ + stars: | 2024-05-21 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

JPMorgan's Marko Kolanovic sees no reason to turn bullish on the stock market despite record highs. In a Monday note, Kolanovic reiterated his view that the S&P 500 could fall 20% to 4,200. AdvertisementJust one day after Morgan Stanley CIO Mike Wilson abandoned his bearish stock market call, JPMorgan's Marko Kolanovic is digging his heels in. Kolanovic is the last mega-bank-bear on Wall Street, reiterating his view in a Monday note that the S&P 500 will fall about 20% to 4,200, levels not seen since October. And AI won't save the stock market, either.

Persons: JPMorgan's Marko Kolanovic, Kolanovic, —, Morgan Stanley, Mike Wilson, It's Organizations: Service Locations: Kolanovic

☆ Jim Cramer points to new, 'very bullish' signs that Apple's China business is on the mend
▼ + stars: | 2024-05-21 | by ( Paulina Likos | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer sees Apple 's China business coming back — pointing to stronger monthly App Store numbers, due to activity in the world's second-largest economy. "This is very bullish," Cramer said Tuesday, reacting to Morgan Stanley data showing a mild acceleration of overall App Store growth in May to 11.7% year over year. As China drives more Apple services growth, Cramer said the "bull case of China being back" gains merit. Earlier this month, Apple delivered record quarterly revenue in high-margin services and guided a double-digit rate of growth for the June quarter. A potential catalyst for Apple stock could be next month's Worldwide Developers Conference.

Persons: CNBC's Jim Cramer, Apple, Cramer, Morgan Stanley Organizations: Apple, Club, That's Locations: China

☆ 5 investments Morgan Stanley recommends making as US stocks surge by up to 19% — and why a prominent Wall Street bear just abandoned his downbeat view
▼ + stars: | 2024-05-21 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

Since then, several major investment firms have lifted their long-term S&P 500 price targets. The firm recommends pairing cyclicals and growth stocks with those attributes so that investors are prepared for stronger or weaker growth. Technology firms using AI need more power, which is a major long-term tailwind for utility companies, Wilson wrote. "We see the recent pullback as an attractive entry point and an opportunity to formally upgrade the sector to overweight," Wilson wrote. "Small-cap valuation is relatively cheap but earnings growth is highly concentrated," Wilson wrote.

Persons: —, Brian Belski, Binky, Morgan Stanley, Long, Mike Wilson, subpar, Wilson, Wilson's, Goldman Sachs, Morgan, Morgan Stanley's Organizations: Service, Business, BMO Capital, Deutsche Bank, optimist, Consumer, Utilities

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