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☆ Here are Wednesday's biggest analyst calls: Nvidia, Amazon, Alphabet, FedEx, Tesla, Caterpillar, Shopify, Disney & more
▼ + stars: | 2024-06-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are the biggest calls on Wall Street on Wednesday: Stifel initiates Tesla at buy Stifel said it's bullish on Tesla for the long term. JPMorgan upgrades FedEx to overweight from neutral JPMorgan upgraded the shipping giant following earnings on Tuesday. Jefferies reiterates Alphabet as buy Jefferies said its survey checks show Alphabet is top of mind for consumers when it comes to AI. Citi reiterates Nvidia as buy Citi raised its price target on Nvidia to $150 per share from $126. Morgan Stanley downgrades Accenture to equal weight from overweight Morgan Stanley said shares of the IT company are "no longer" attractive.

Persons: Tesla, Stifel, it's, Piper Sandler, Piper, Goldman Sachs, Goldman, Mark Clouse, Carrie Anderson, Rebecca Gardy, Wolfe, HOOD, Warnick, Shopify, Rosenblatt, Nike's, Morgan Stanley, Jefferies, GOOGL, Stephens, Wells, BTIG, Northrop, Rivian, Piper Sandler downgrades Aptiv Organizations: JPMorgan, FedEx, Campbell, Barclays, Nu Holdings, BMO, Steel, Nippon, US Steel, X, Digital Realty, Citi, U.S, Caterpillar, Apple, Apple Intelligence, Android, UBS, Nike, Nvidia, Davidson, Home, Bank of America, " Bank of America, shipper, UPS, Cruises, Northrop Grumman, VW, JV, Accenture Locations: 1Q24, Mexico, Brazil, China, Houston, U.S, Rivian

☆ What Rivian's venture with Volkswagen means for the EV maker, broader auto industry
▼ + stars: | 2024-06-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Rivian 's latest partnership with Volkswagen could prove a major boon for investors and the broader auto industry, according to some Wall Street analysts. As part of the plan, Volkswagen will inject $1 billion, followed by an additional $4 billion investment planned by 2026. RIVN 1D mountain Shares pop on Volkswagen venture But Wall Street views the deal as a potential turnaround opportunity that can help limit execution risks and uncertainties surrounding funding that have spooked investors in recent months. Big wins for the auto industry While the venture justifies Rivian's strategy, some on Wall Street anticipate potential big wins for the broader auto industry. He added that the venture also highlights the need for proprietary electronic control units and software.

Persons: Rivian, John Murphy, Ryan Brinkman, Dan Levy, Levy, Wells, Colin Langan, Morgan Stanley's Adam Jonas, Jonas, Tesla, Piper Sandler, Alexander Potter, America's Murphy Organizations: Volkswagen, Bank of America, JPMorgan, Barclays, Bank, Lucid Group Locations: China

☆ Morgan Stanley wealth advisors are about to get an OpenAI-powered assistant to do their grunt work
▼ + stars: | 2024-06-26 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

The assistant, called Debrief, keeps detailed logs of advisors' meetings and automatically creates draft emails and summaries of the discussions, bank executives told CNBC. Morgan Stanley's wealth management division hosts about 1 million Zoom calls a year, the bank told CNBC. Zoom In Icon Arrows pointing outwards Morgan Stanley’s new Debrief program, a new AI tool for wealth management advisors based on OpenAI’s GPT-4. In a sense, Morgan Stanley's projects in generative AI amount to a "grand experiment in productivity," said McMillan. Morgan Stanley's wealth management division is one of the world's largest with $5.5 trillion in client assets as of March; the firm wants to reach $10 trillion.

Persons: Bing Guan, Morgan Stanley, Jeff McMillan, Morgan Stanley's, McMillan, Morgan, I'm, Don Whitehead, who's Organizations: Bloomberg, Getty, CNBC Locations: Houston

☆ Instagram reels is taking a bite out of TikTok's popularity in the US and abroad, new data finds
▼ + stars: | 2024-06-26 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +1 min

New data found Instagram reels is surging ahead of TikTok in countries like the US, Japan, and Spain. TikTok and Instagram have been competing in short-form video for years. AdvertisementWhen Meta launched its short-form video feature reels on Instagram in 2020, it faced stiff competition from TikTok for people's attention. Today, reels seem to be winning the popularity crown among social-media users, two separate studies published in the past month have found. 37% of Instagram users now use reels daily, and 78% engage with it monthly, Morgan Stanley found based on a March survey of around 2,000 US-based consumers over the age of 16.

Persons: —, Morgan Stanley Organizations: Service, Meta, Business Locations: TikTok, Japan, Spain

☆ Companies are repurchasing stock at record levels. Here are the buyback kings
▼ + stars: | 2024-06-25 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Tech and communication services companies have been dominating share buyback activity within the S & P 500 this year, according to Jill Carey Hall, Bank of America's equity and quantitative strategist. Earlier this year, Apple announced a massive $110 billion share buyback program, while Alphabet authorized a $70 billion repurchase . Buyback fans include legendary investor Warren Buffett, as Berkshire Hathaway spent $2.6 billion in the first quarter of 2024 to repurchase shares. And the company has a strong track record of stock buybacks. GM's board authorized a new $6 billion buyback program earlier this month, which follows an accelerated $10 billion plan from November 2023.

Persons: Jill Carey, Hall, Warren Buffett, Berkshire Hathaway, Motors, Morgan Stanley, Joe Laetsch, Laetsch, Johnson Organizations: Tech, Jill Carey Hall , Bank, Apple, Berkshire, CNBC, GM, General Motors, Marathon Petroleum, MPC, DuPont, Synchrony, Comcast Locations: Detroit, NBCUniversal

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Disney, Gap, Ford, Rivian, Apple, Tesla, Uber, Exxon & more
▼ + stars: | 2024-06-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Bank of America reiterates Nvidia as buy The firm named Nvidia to its best-of-breed list. Goldman Sachs reiterates Microsoft as buy Goldman said it's sticking with its buy rating on the stock. "We reiterate our Buy rating ($515 Price Target) on Microsoft as we see the company yielding strong returns on its Gen-AI investments." "We are initiating on Carpenter Technology (CRS) with a Buy rating and $144 target price (47% upside potential)." "We are initiating coverage on Rivian Automotive, Inc. (RIVN) with a BUY rating and $18 PT."

Persons: BoB, Goldman Sachs, Goldman, it's, TD Cowen, Zeta, Raymond James downgrades Penn, Raymond James, Wells, Tapestry's, Tesla, Piper Sandler, Uber, Piper, AMZN, Morgan Stanley, Ford, Evercore, Truist, Guggenheim, Rivian, Robinson, CHRW, Maxim, MicroStrategy Organizations: Bank of America, Nvidia, Disney, Microsoft, Technology, RBC, Zeta Global, PENN, UBS, Exxon, Deutsche Bank, Carpenter Technology, Tesla, Ford, TAP, Ball Corp, Rivian Automotive, Inc, Apple Locations: Capri, HNST

☆ There may be a comeback trade opportunity in Ford emerging, according to top analyst Jonas
▼ + stars: | 2024-06-25 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Adam Jonas, a well-known auto analyst at the investment bank, said Ford remains his top pick in the auto sector. Now, Jonas said Ford could take the spotlight as the focus within the sector shifts from electric vehicle investment to capital discipline. It comes at a tumultuous time for automakers as they grapple with softer-than-anticipated electric vehicle demand. Given an ongoing "unwind" in the electric vehicle story, he said Ford has the potential to flip the stock performance. Jonas' $17 price target for Ford implies the Detroit-based company's stock can rally around 39% over the next 12 months.

Persons: Morgan Stanley, Adam Jonas, Ford, Jonas, outperformance Organizations: Ford, General Motors, GM Locations: Detroit

☆ Citi Wealth's horrible tech is infuriating clients and employees and endangering its turnaround
▼ + stars: | 2024-06-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +11 min

But even clients who get through the door can be reluctant to park more assets with Citi, according to a wealth advisor. To understand the extent of Citi Wealth's tech woes and the stakes, Business Insider spoke with 14 current and former employees. Andy Sieg took over Citi Wealth in September after leaving Merrill Wealth Management. Citi Wealth clients are losing their patienceCiti receives 27,000 monthly complaints from wealth customers, according to the audit. Getting bank statements emailed is difficult for Citi private bank clients when it's a matter of checking a box at other major banks.

Persons: —, Andy Sieg, Roth, Ernst & Young, EY, Merrill Lynch, Sieg, Morgan Stanley, Kris, Wells, Mike Mayo, Jane Fraser, Shadman Zafar, Alois Pirker Organizations: Service, Revlon, Citi, Business, Ernst, Citi Wealth, Merrill Wealth Management, Morgan, Citigroup, Apple, Microsoft, Bankers, Employees, Work, Fidelity, Advisors

☆ These companies are likely to reward investors with special dividends and outperformance, Morgan Stanley says
▼ + stars: | 2024-06-25 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

A select group of stocks might be primed to offer investors an appealing combination of unexpected income and price appreciation, according to Morgan Stanley. Special dividends — one-time payments companies make to shareholders outside of their regular dividend cycle — tend to result in higher share prices, according to Todd Castagno, a strategist at Morgan Stanley. Indeed, companies that have distributed these special dividends have seen their share price beat the market by 4.1% in the six months following the announcement, Morgan Stanley found. That outperformance grows to 7.8% in the 12 months after the special dividend news. To that effect, Castagno's team highlighted a group of "special dividend hopefuls" — companies that seem to have the ability to offer these one-time payments.

Persons: Morgan Stanley, Todd Castagno, Castagno, Morgan, Brian Nowak, Paychex, Kalei Organizations: Six Flags, Cedar Fair, Google, Wall, Bank of America Locations: Wall, EOG

☆ A labor slowdown could ruin America's soft-landing hopes and cause a 10% stock correction, Morgan Stanley CIO says
▼ + stars: | 2024-06-25 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

A weakening jobs market could trigger a 10% stock correction, says Morgan Stanley CIO Mike Wilson. He told Bloomberg that if non-farm payrolls fall under 100,000, it could break the soft-landing narrative. AdvertisementThe job market could make or break stocks, with any sudden weakness possibly triggering a meaningful correction, Morgan Stanley CIO Mike Wilson told Bloomberg TV. Mike Wilson said. For this reason, current market highs make sense, he told Bloomberg, as investors load in on quality on growth trades.

Persons: Morgan Stanley, Mike Wilson, Wilson, — Organizations: Bloomberg, Treasury, Service, Federal Reserve

☆ 'Excellent buying opportunities': Morgan Stanley's Slimmon names 3 stocks he likes right now
▼ + stars: | 2024-06-24 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Equity markets have been rallying in the past week, with the S & P 500 benchmark briefly hitting a high of 5,500 last week before losing traction. That movement has raised concerns on whether valuations are stretched, but Morgan Stanley's Andrew Slimmon has maintained his bullish stance on the stock market. "But what's important to remember is that the S & P 500 has rallied 7 of the last 8 months and is up 40% from the October lows. One merit of large-cap stocks is that they "have better earnings revisions than the small-caps," since they buy back their stocks more aggressively, he explained. Three stocks Slimmon likes right now include investment bank JPMorgan Chase , insurance company Progressive Corp and Irish building materials company CRH .

Persons: Morgan Stanley's Andrew Slimmon, I'm, CNBC's, Slimmon Organizations: Morgan Stanley Investment Management, CNBC, U.S . Federal Reserve, JPMorgan Chase, Progressive Corp

☆ How tech diffuses into retail
▼ + stars: | 2024-06-24 | 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 EmailHow tech diffuses into retailSimeon Gutman, analyst at Morgan Stanley, joins CNBC's 'The Exchange' to discuss how retailers are increasing profit margins with AI, who the winners are in the space, and more.

Persons: Simeon Gutman, Morgan Stanley

☆ Morgan Stanley says economic growth is bigger risk than inflation, gives quality stocks to own in a slowdown
▼ + stars: | 2024-06-24 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

The risk of an economic slowdown now outweighs the risk of inflation, according to Morgan Stanley. But Morgan Stanley worries that the poor breadth of the market , measuring the number of advancing stocks against those declining, is a sign that slowing economic growth is becoming a bigger risk than stubbornly high inflation. To be sure, the Morgan Stanley strategist does not expect weak breadth to herald weak returns. Here are some of the quality large-cap and defensive stocks with strong upward earnings revisions that can outperform, according to Morgan Stanley. Burlington shares are higher by 25% this year, and the stock is overweight-rated by Morgan Stanley.

Persons: Morgan Stanley, Mike Wilson, Wilson, Russell, Bernstein, BURL, Aneesha Sherman, Morgan, Jefferies, HubSpot Organizations: Wall, Nasdaq, Dow Jones, Monster Beverage, Beverage, Nvidia Locations: Burlington

Citi analyst Andrew Kaplowitz upgraded his rating for the heating and ventilation company to buy from neutral. The analyst accompanied the move by upping his price target to $74 from $65, implying that shares of Carrier Global could rally 17% going forward. The financial institution raised its price target for Nvidia to $150 from $135. Analyst Erin Wright stood by her overweight rating on the health insurance stock, reiterating her $595 price target. Wright set a price target of $374, which is 23% higher than the insurance company's Friday closing price of $355.48.

Persons: Goldman Sachs, Andrew Kaplowitz, CARR, Kaplowitz, — Lisa Kailai Han, Jefferies, Blayne Curtis, kingmaker, Curtis, Lisa Kailai Han, Morgan Stanley, UnitedHealth, Morgan Stanley's, Erin Wright, Wright, Bernstein, Stephen Reitman, Ferrari, Reitman, Ferrari's, Sanjeet Aujla, Aujla, BUD, Christopher Danely, Danely, James Schneider, Schneider, Fred Imbert Organizations: CNBC, Monday, Citi, Micron Technology, IBM, Carrier Global, Carrier, Nvidia, Humana, Ferrari, UBS, Anheuser, Busch InBev It's, Busch InBev, Micron, Citi Citi, Dow Jones Industrial, Dow Locations: China, UnitedHealth, U.S, Friday's

☆ Here are Monday's biggest analyst calls: Nvidia, Amazon, IBM, Micron, Apple, Tesla, Broadcom, Planet Fitness, UnitedHealth & more
▼ + stars: | 2024-06-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley initiates Ryder System as overweight Morgan Stanley said the transformation is underway for the transport company. " Morgan Stanley names UnitedHealth a top pick Morgan Stanley said the health-care company is compelling. "With this note, we are adjusting our Top Pick to UNH (from CI), where its relative share price performance presents an opportunity in our view." Morgan Stanley initiates Elevance Health as overweight Morgan Stanley called out Elevance Health's earnings power as it initiated coverage of the stock. " Melius reiterates Apple as buy Melius raised its price target on Apple to $260 per share from $227.

Persons: Jefferies, kingmaker, CARR, Goldman Sachs, Goldman, Morgan Stanley, Ryder, UnitedHealth, Bernstein, Tesla, TD Cowen, TD, it's, Melius, BEV, Eli Lilly, LLY Organizations: Nvidia, Citi, Micron, Carrier, UBS, Anheuser, Busch InBev, IBM, Bank of America, Broadcom, VMWare, CI, Elevance Health, Cherniere Energy, Cheniere Energy Inc, Ally, Barclays, Apple, " Bank of America, Alexa, Reuters, China, JPMorgan, Royal Locations: LLY, Royal Caribbean

☆ Stocks making the biggest moves midday: ResMed, Affirm, Nvidia, Anheuser-Busch and more
▼ + stars: | 2024-06-24 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Affirm — The buy now, pay later stock popped 10% after Goldman Sachs assumed coverage of the name at a buy rating. Roth MKM upgraded Cinemark to a buy from a neutral rating, saying that headwinds should soon shift to "very attractive tailwinds." Anheuser-Busch InBev — The brewing company's shares rose around 3% after UBS upgraded the stock to buy from neutral. Carrier Global — The heating and ventilation stock rose 3% on the heels of a Citi upgrade to buy from neutral. Energy stocks – A slate of energy names rose as crude oil futures jumped to start the last week of June.

Persons: Eli Lilly, tirzepatide, Eli Lilly's, ATTR, Goldman Sachs, Will Nance, Roth MKM, headwinds, Morgan Stanley, Cowen, Ferrari, Brent, SLB, Baker Hughes, — CNBC's Lisa Han, Jesse Pound, Alex Harring, Sean Conlon, Samantha Subin Organizations: Systems, Food and Drug Administration, Coyote Logistics, UPS, Alnylam Pharmaceuticals, Nvidia, Microsoft, Anheuser, Busch InBev, UBS, Busch, IBM, Ryder, Carrier, Citi, Ferrari —, Energy, West Texas Intermediate, APA Locations: U.S

☆ Jain Global, the most anticipated new hedge fund in years, is about to make its debut. An architect of the manager explains how it will be different.
▼ + stars: | 2024-06-24 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +12 min

The launch of Jain Global has dominated industry gossip since its founder left Millennium Management, where the 53-year-old Jain was Izzy Englander's right-hand man, in late 2022. And more specifically, scalability without incremental cost," Jonathan Barton, the firm's chief operating officer, said in an interview with BI. Starting from a clean sheet of paper gave Jain Global certain advantages, said one senior banker who worked closely with the new manager as it built out its teams and systems. 3Forge, a specialty-software provider, worked with Jain Global to build the interface that connects all the systems for PMs, the risk team, and management. In five to 10 years, Jain Global hopes it won't need a sprawling business-development function because a strong talent pipeline will have developed inside the firm.

Persons: —, Bobby Jain's, Jain, Izzy Englander's, It's, Morgan Stanley, Griffin's, Steve Cohen's Point72, Michael Gelband's, redemptions, Jonathan Barton, Barton, — Barton, it's, Bobby, Paul Enright, Sam Kellie, Smith, David Hochberg, Enright, Hochberg, there's, Jon Caplis, Caplis, they're Organizations: Service, Jain Global, Millennium Management, Business, UBS, Citadel, Bank of America, Meru Capital Group, Jain, Credit Suisse, Viking Global, Macquarie, Investors, Bloomberg Locations: Singapore, Balyasny, New York, Houston, London, Hong Kong, York, Lane, Meru, Asia, PivotalPath

☆ CNBC Daily Open: Dow posts best week since May, Tesla cuts 14% of workforce
▼ + stars: | 2024-06-24 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Traders work on the floor during morning trading at the New York Stock Exchange (NYSE) on March 6, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The tech-centric Nasdaq Composite remained flat, while the Dow Jones Industrial Average had its best week since May, rising 1.45%. Most Asia markets fallMost Asia-Pacific markets were trading lower as investors awaited inflation data from Australia and Japan later this week.

Persons: JPMorgan Chase, Goldman Sachs, Tesla, Elon Musk, Musk, Australia's, Kospi, Seng, Morgan Stanley's Andrew Slimmon Organizations: New York Stock Exchange, CNBC, Nvidia, Microsoft, Apple, Nasdaq, Dow Jones, Citigroup, JPMorgan, Bank of America, Apple Intelligence, Union, Nikkei, Bank of, CSI Locations: New York City, Asia, Pacific, Australia, Japan, Bank of Japan

☆ Eli Lilly's treatment for obesity and diabetes looks promising for another severe condition
▼ + stars: | 2024-06-24 | 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. "This is what the bears should be most worried about, which is the [market] broadening out," Jim Cramer said Monday. 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, Morgan Stanley, Wells Fargo, Eli Lilly, Jim, Jim Cramer's Organizations: CNBC, Dow, Nasdaq, Honeywell, Coterra Energy, Nvidia, Microsoft, U.S

☆ Microsoft is one of the most overbought stocks on Wall Street. Here are the others
▼ + stars: | 2024-06-22 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

To that end, CNBC Pro used its stock screener tool to find the most overbought and oversold names on Wall Street, employing the 14-day relative strength index, or RSI, as a metric. Stocks that have a 14-day RSI above 70 are said to be overbought, indicating that shares might soon be due for a pullback. Microsoft was among the most overbought stocks this week, with an RSI of 74. Analyst price targets suggest more than 37% upside, per LSEG. With a RSI of about 19, real estate data firm CoStar Group was also among the most oversold stocks.

Persons: Nvidia, Brent Thill, Morgan Stanley, Meta Marshall, Vasu Raja, AAL, Ravi Shanker, Nicholas Jones, CSGP, —, Fred Imbert Organizations: CNBC Pro, Microsoft, Jefferies, American Airlines, U.S, JMP Securities Locations: Corning

☆ Morgan Stanley picks global stocks to play a $50 billion AI boom. Analysts give two over 20% upside
▼ + stars: | 2024-06-21 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

The Wall Street bank estimates that another 1 gigawatts in potential power has been "underwritten as these data centers ramp up." "With $50 billion in committed AI/DC [data center] investments, we see upside to power gencos and grid operators in the region," Morgan Stanley's analysts wrote in a June 2 research note. Below are three stocks from Morgan Stanley's list that stand out for having significant upside potential, according to FactSet's consensus price targets. Analysts polled by FactSet give the stock a price target of 14.62 Malaysian ringgits, giving it around 6% potential upside. Keppel has an ADR in the U.S. and Singapore Telecommunications trades over the counter .

Persons: Morgan Stanley, Morgan, Morgan Stanley's, FactSet, Keppel, — CNBC's Michael Bloom Organizations: Morgan, Google, U.S, Global X FTSE, Asia, Malaysian, Singapore Telecommunications, Singapore Exchange Locations: Tenaga Nasional, Malaysia, Bursa Malaysia, Singapore, Keppel, U.S

☆ Comeback candidates for 2024's second half include Starbucks and Nike — Here are the rest
▼ + stars: | 2024-06-21 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

However, shares of heavyweight companies including Nike and Starbucks have not fared as well this year. The sneaker manufacturer has slipped about 12% in 2024, while Starbucks has pulled back more than 16%. Starbucks The coffee chain posted sluggish fiscal second-quarter results in late April, noting a stark decline in same-store sales. SBUX YTD mountain Starbucks stock. NKE YTD mountain Nike stock.

Persons: Goldman Sachs, Christine Cho, Morgan Stanley, Alex Straton, skews, Straton, Raymond James, RJ Milligan, amortization, Milligan Organizations: Nvidia, Nike, Starbucks, CNBC Pro, CNBC, Stock, Caesars Entertainment, Caesars Locations: SBUX, FY3Q24E, China

☆ Expect some rotation during earnings season, says Morgan Stanley's Chris Toomey
▼ + stars: | 2024-06-21 | 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 EmailExpect some rotation during earnings season, says Morgan Stanley's Chris ToomeyChris Toomey, Morgan Stanley managing director, joins 'Closing Bell' to discuss finding the next market catalyst and the equity market.

Persons: Morgan, Chris Toomey Chris Toomey, Morgan Stanley

☆ 10 things to watch in the stock market Friday including more optimism on Apple's AI plan
▼ + stars: | 2024-06-21 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Meanwhile, Melius Research upped its price target on the leading artificial intelligence chipmaker to $160 a share from $125. Their new price target is $477 a share, down from $535. DA Davidson started coverage of Club name Palo Alto Networks with a buy rating and price target of $380 a share. Snowflake 's price target at Wells Fargo was lowered to $200 a share from $225, though analysts kept their buy rating on the data-analytics stock. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Stocks, Dow, Oppenheimer, Bernstein, Toni Sacconaghi, It's, Northrop Grumman, Analysts, Davidson, billings, Morgan Stanley, Frank Slootman, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Nvidia, Research, Nike, Analysts, Apple, Northrop, Palo Alto Networks, Alcoa, JPMorgan, Kroger, Jim Cramer's Charitable, CNBC Locations: Freeport, McMoRan, Wells

☆ Here's our first-quarter earnings report card for 32 stocks in the portfolio
▼ + stars: | 2024-06-21 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

Most of the earnings reports — 25 out of 32 portfolio names — were ranked as good or great by the Investing Club. Similar to prior quarters, we grouped company results into one of four categories. Meta Platforms : Sales, earnings and cash flow results all topped expectations . However, sales and earnings both outpaced expectations, as did return on tangible common equity, a key consideration when valuing banks. The company also raised its outlook for full-year earnings growth to 25% year-over-year from 20%.

Persons: we're, Dover, Eli Lilly, Blackwell, Abbott, —, Wall, We'll, Morgan Stanley, Nikesh, Stanley Black, Wells, Estee Lauder, Fabrizio Freda, Jim Cramer's, Jim Cramer, Jim, Hock Tan, Broadcom Lucas Jackson Organizations: Investing, Apple, Services, Broadcom, VMware, Coterra, DuPont, Microsoft, Nvidia, Wynn Resorts, Super, Abbott Labs, Web Services, Constellation Brands, Constellation, Ford, Ford Pro, Wall Street, Alto Networks, Procter & Gamble, TJX, GE Healthcare, Honeywell, Linde, Jim Cramer's Charitable, CNBC Locations: Dover, China, Eaton, Las Vegas, China's Macao, billings, Wells Fargo, —

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