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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEvercore ISI's Mark Mahaney explains why he upgraded Expedia for the first time in a decadeMark Mahaney, Evercore ISI head of internet research, joins 'Squawk Box' to discuss the latest market trends, why he upgraded Expedia for the first time in a decade, the impact of A.I. on tech mega-cap stocks, and more.
Persons: Mark Mahaney
But even as the story continues unfolding, analysts already view Microsoft as well positioned coming out of the latest Silicon Valley spectacle. Ives, who reiterated his outperform rating and $425 price target for Microsoft, said the OpenAI board was "kids poker table and thought they won." "We view Microsoft now even in a STRONGER position from an AI perspective with Altman and Brockman at MSFT running AI," Ives wrote to clients Monday morning. Ives' price target is higher than the consensus on Wall Street of $403, according to LSEG, implying upside of slightly more than 9%. Materne has an outperform rating on the stock and a $432 price target.
Persons: Sam Altman, , Altman, MSFT, Dan Ives, Ives, Satya Nadella, Greg Brockman, Brockman, outperforming, Oppenheimer, Timothy Horan, Bing, Horan, ISI's Kirk Materne, Materne, Michael Bloom Organizations: Microsoft, Nasdaq Locations: OpenAI, Redmond, Wash
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEvercore ISI's Greg Melich names these companies as his sleeper retail picksGreg Melich, equity analyst at Evercore ISI, joins 'Power Lunch' to discuss retail earnings for Target and Walmart.
Persons: Greg Melich Organizations: Evercore ISI, Target, Walmart
Qatar's Emir Sheikh Tamim bin Hamad al-Thani attends the Arab League Summit in Jeddah, Saudi Arabia, May 19, 2023. Qatar said "joint efforts to stop the aggression against Gaza, reduce escalation and bring in urgent humanitarian aid" were discussed. Since then Israel has launched an unrelenting bombardment and an armoured invasion of Hamas-ruled Gaza, where more than 10,000 people have been killed, according to Palestinian officials. Evacuations through Rafah restarted on Thursday following a pause after the Red Cross said one of its convoys escorting evacuees was targeted inside Gaza. The United Nations said 65 aid trucks entered Gaza from Egypt on Thursday, well below the number needed to address a deepening humanitarian crisis.
Persons: Sheikh Tamim bin Hamad, Thani, Abdel Fattah al, Sheikh Tamim bin Hamad Al Thani, Cross, Israel, Mohamed Wali, Nayera Abdallah, Nadine Awadalla, Aidan Lewis, Nick Macfie, Alex Richardson Organizations: Arab League Summit, Saudi Royal Court, REUTERS, Rights, U.S . Central Intelligence Agency, CIA, Hamas, United Nations, United, Thomson Locations: Jeddah, Saudi Arabia, Bandar, Rights CAIRO, Qatar, Egypt, Cairo, Gaza, Qatari, Doha, Israel, Hamas, Rafah, United States
The S & P 500 has successfully weathered several key tests and should be in line for a year-end rally, according to Evercore ISI. "The implications set the S & P 500 on course to our year-end 4,450 PT, with a potential for overshoot to YTD highs," Emanuel continued. If the S & P 500 hits that mark, it means that the stock index will rise another 2% by the end of the year. The S & P 500 has fallen for three straight months and is down 5% since its year-to-date high near 4,600 in late July. .SPX YTD mountain The S & P 500 is down about 5% from its year to date high.
Persons: Julian Emanuel, Emanuel, — CNBC's Michael Bloom Organizations: ISI, Treasury, Survey
But economists are warning the bump in growth won’t last forever, with Americans’ COVID-era savings running dry. AdvertisementAdvertisementTaylor Swift, Beyoncé, and the "Barbenheimer" box-office craze all gave the American economy a much-needed boost this summer. AdvertisementAdvertisementFunflation won't lastAmericans' summer spending splurge on concert and film tickets didn't come out of nowhere. "You've run down the savings rate so a lot of people have basically been spending well beyond what they've been earning. That's why the Taylor Swift economy isn't likely to last.
Persons: Taylor Swift, , , Marc Ostwald, Anna Wong, Eliza Winger, they've, You've, that's, Freddie Mac, Beyonce Organizations: Service, ADM, Services International's, Bloomberg, ADM ISI's, Federal Reserve Locations: American
Experts say that while Iran is wary of being dragged into the Israel-Hamas war, it may not be in full control if the militias it backs in the region — like the Lebanese paramilitary group Hezbollah — independently intervene as Hamas suffers heavy blows and the death toll in Gaza continues to mount. Raisi's comments were not the first warning from an Iranian official of the potential for a broader conflict. Last Monday, Abdollahian said the US has sent Iran two messages regarding escalation in the region. He added that while the US says it wants to de-escalate, it has contradicted itself by continuing to support Israel. Read more on Iran's role in the region.
Persons: Israel, Ebrahim Raisi, Jake Sullivan, Hezbollah —, , Sima Shine, Hossein Amir, Abdollahian, Al Jazeera, ” Abdollahian, Trita Parsi Organizations: US, Lebanese, Hezbollah, Institute for National Security, Iranian, Quincy Institute Locations: Gaza, Iran, Israel, Tel Aviv, United States, Tehran, Washington ,
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Solus’ Dan Greenhaus, Big Technology’s Alex Kantrowitz and Evercore ISI's Mark MahaneyMark Mahaney, Evercore ISI head of internet research, Dan Greenhaus, Solus Alternative Asset Management chief strategist, and Alex Kantrowitz, Big Technology founder, join 'Closing Bell' to discuss the market reaction to tech earnings and outlook for the rest of 2023.
Persons: Solus ’ Dan Greenhaus, Big, Alex Kantrowitz, Mark Mahaney Mark Mahaney, Dan Greenhaus Organizations: Asset Management, Big Technology
Wall Street analysts are standing by Meta Platforms despite the post-earnings sell-off, with some recommending using the pullback to scoop up the stock. "Let's be clear, there's still a lot to get excited about," said Bernstein analyst Mark Shmulik. META 1D mountain Meta shares slump post-earnings Shares were last down about 4%. "We believe Meta continues to execute well & remains disciplined, and we would be buying the pullback in Meta shares," said JPMorgan's Doug Anmuth. "While all advertising may be impacted by geopolitical activity, advertising allocation remains a relative game and we believe META's differentiation gap is widening vs most peers," he said.
Persons: Bernstein, Mark Shmulik, Meta, Doug Anmuth, Ronald Josey, Evercore, Mark Mahaney, Ross Sandler, Morgan Stanley's Brian Nowak, — CNBC's Michael Bloom Organizations: Meta, Facebook, Wall Street, Tech, Barclays
Evercore ISI's Mark Mahaney sees the potential for more upside ahead for Meta , despite the stock's monster rally so far this year. It's a big week for mega tech earnings and the social media giant is expected to report on Wednesday. META YTD mountain Meta's year-to-date performance Meta has been able to recover its advertising momentum, said Mahaney, Evercore's head of internet research, in an interview with " Squawk Box " Friday. The company will give next year's forecast on capital expenditures and total expenses during its earnings report — one of the few who does so, Mahaney said. "If that shows continued moderation in growth, the year of efficiency becomes the years of efficiency [and] this stock rerates higher because Meta is the cheapest high-quality tech stock out there at 16 times earnings," he said.
Persons: Evercore, Mark Mahaney, It's, Meta, Mahaney Organizations: Meta
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNetflix's Q4 subscriber growth outlook is a 'big surprise', says Evercore ISI's Mark MahaneyMark Mahaney, Evercore ISI head of internet research and Alicia Reese, Wedbush VP of Equity Research, join 'Closing Bell Overtime' to talk Netflix's Q3 earnings results.
Persons: Evercore, Mark Mahaney Mark Mahaney, Alicia Reese, Wedbush Organizations: Equity Research
Egyptian President Abdel Fattah al-Sisi attends a meeting with Russian President Vladimir Putin on the sidelines of Russia-Africa summit in Saint Petersburg, Russia, July 26, 2023. The border between Egypt's Sinai Peninsula and the Gaza Strip is the site of the only crossing from the Palestinian territory that is not controlled by Israel. Sisi said the Egyptian people would "go out and protest in their millions... if called upon to do so" against any displacement of Gaza's residents to Sinai. Egypt is wary of insecurity near its border with Gaza in northeastern Sinai, where it faced an Islamist insurgency that escalated a decade ago. Any transfer of Palestinians to Sinai would mean "that we move the idea of resistance, of combat, from the Gaza Strip to Sinai, and so Sinai would become the base for launching operations against Israel", Sisi said.
Persons: Abdel Fattah al, Sisi, Vladimir Putin, Alexei Danichev, Olaf Scholz, Osama Hamdan, Jordan, John Kirby, Joe Biden, Biden, Israel, Nayera Abdallah, Nadine Awadalla, Ahmed Mohamed Hassan, Aidan Lewis, Gareth Jones, Philippa Fletcher Organizations: Sputnik, Rights, West Bank, United, Volunteers, Islamic Jihad, Thomson Locations: Russia, Africa, Saint Petersburg, Rights CAIRO, Sinai, Gaza, Cairo, Israel, Egypt, Beirut, Rafah, United States
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEvercore ISI's Greg Melich names these five retailers as his top picksGreg Melich, Evercore ISI, joins 'Closing Bell' to discuss retail sales which came in hotter-than-expected.
Persons: Greg Melich Organizations: ISI
Egypt pushes to break impasse over Gaza aid
  + stars: | 2023-10-15 | by ( ) www.reuters.com   time to read: +3 min
Aid from several countries has been building up in Egypt's Sinai peninsula due to a failure to reach a deal enabling its safe delivery to Gaza along with evacuations of some foreign passport holders through the Rafah crossing into Egypt. Israeli bombardments on the Gaza side of the Rafah crossing into Egypt, the main crossing out of Gaza not controlled by Israel, have disrupted operations there. There is alarm in Egypt over the prospect that residents in Gaza could be displaced by Israel's siege and bombardment. Egyptian Foreign Minister Sameh Shoukry told CNN on Saturday that the Rafah crossing was open but the roads leading to it in Gaza were "inoperable" due to Israeli bombardment. He said that if foreign nationals were able to cross the border Egypt would facilitate their departure to their home countries.
Persons: Antony Blinken, Abdel Fattah al, Sisi, Sameh Shoukry, Mohamed Waly, Omar Abdel Razek, Yusri Mohamed, Humeyra Pamuk, Hatem Maher, Ahmed Tolba, Adam Makary, Nafisa Eltahir, Aidan Lewis, Louise Heavens, Hugh Lawson, Andrew Cawthorne Organizations: Hamas, U.S, CNN, United, United Arab, World Health Organization, Thomson Locations: Rafah, Gaza, Israel, Palestinian, ., CAIRO, Egypt, Egypt's, United States, Turkey, United Arab Emirates, Jordan, Tunisia, Sinai's Al Arish
Saudi Crown Prince Mohammed bin Salman receives U.S. President Joe Biden at Al Salman Palace upon his arrival in Jeddah, Saudi Arabia, July 15, 2022. Saudi Crown Prince Mohammed bin Salman took his first phone call from Iranian President Ebrahim Raisi as Riyadh tries to prevent a broader surge in violence across the region. "Normalisation was already considered taboo (in the Arab world) ... this war only amplifies that," Saudi analyst Aziz Alghashian said. Asked about Raisi's call with the crown prince, a senior U.S. State Department official said Washington was in "constant contact with Saudi leaders". "The Saudis are still convinced the region, and Saudi Arabia itself, needs to shift toward regional cooperation and economic development.
Persons: Prince Mohammed bin Salman, Joe Biden, Ebrahim Raisi, Israel, Normalisation, Aziz Alghashian, Abraham, Jake Sullivan, Washington, Prince Faisal bin Farhan, Raisi, Ayatollah Ali Khamenei, Antony Blinken, Alex Vatanka, Aziz El Yaakoubi, Matt Spetalnick, Humeyra Pamuk, Tom Perry, Michael Georgy, Edmund Blair Organizations: Al, Saudi Royal Court, REUTERS, U.S, Hamas, normalisation, Saudi, Abraham Accords, United Arab Emirates, U.S . National Security, White, Saudi Foreign, Reuters, U.S . State Department, Middle East Institute, Thomson Locations: Saudi, Jeddah, Saudi Arabia, Bandar, Iran RIYADH, Israel, Palestinian, Iran, Riyadh, U.S, East, Gaza, Gulf, Iranian, Palestine, Yemen, Lebanese, Tehran, Washington
Amazon is Evercore ISI's #1 internet pick
  + stars: | 2023-10-12 | 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 EmailAmazon is Evercore ISI's #1 internet pickMark Mahaney, Evercore ISI Head of Internet Research, joins 'Closing Bell: Overtime' to discuss Evercore ISI's bullish take on Amazon and the company's top internet picks.
Persons: Mark Mahaney Organizations: Internet Research
Egypt facilitating deliveries of aid to Sinai for Gaza
  + stars: | 2023-10-12 | by ( ) www.reuters.com   time to read: +3 min
Italian Foreign Minister Antonio Tajani speaks as he attends a press conference with Egyptian Foreign Minister Sameh Shoukry (not pictured), in Cairo, Egypt, October 11, 2023. The Rafah crossing between Sinai and Gaza remained open, the Egyptian foreign ministry said, adding that Egypt had asked Israel to avoid targeting the Palestinian side of the crossing after strikes that prevented normal operations there. Al Arish airport in northern Sinai, about 45 km (28 miles) from the Gaza border, was preparing to receive three aid flights from Qatar and Jordan, but these would not leave the airport until humanitarian corridors had been established, two Egyptian security sources said. They said Egypt and Jordan had received assurances from the United States that aid would be delivered to Gaza, without giving details. Since Palestinian Islamist group Hamas took control of Gaza in 2007, Israel and Egypt have imposed a blockade, restricting the passage of people and goods in and out of the territory.
Persons: Antonio Tajani, Sameh Shoukry, Mohamed Abd El Ghany, Israel, Jordan, retaliating, Rishi Sunak, Abdel Fattah al, Sisi, Sunak, Ahmed Elimam, Ahmed Mohamed Hassan, Nadine Awadalla, Aidan Lewis, Alex Richardson, Andrew Heavens, Angus MacSwan, Mark Heinrich Our Organizations: Italian, Egyptian Foreign, REUTERS, Rights, Lithuanian, Hamas, British, Thomson Locations: Cairo, Egypt, Rights CAIRO, Gaza, Sinai, Rafah, Israel, Al Arish, Qatar, Jordan, United States, Palestinian
Palestinians inspect damages of a house hit by Israeli strikes, in Khan Younis in the southern Gaza Strip October 11, 2023. Egypt has long restricted the flow of Gazans onto its territory, even during the fiercest conflicts. LIMITED CEASEFIREEgypt has been intensifying its efforts to contain the situation in Gaza, Egyptian President Abdel Fattah al-Sisi told Italian Foreign Minister Antonio Tajani during a meeting in Cairo, a statement from Sisi's office said. According to the Egyptian security sources, talks between Egypt and the United States, Qatar and Turkey discussed the idea of delivering humanitarian aid through the Rafah crossing between Gaza and Egypt's Sinai Peninsula under a geographically limited ceasefire. The crossing, which is the main exit point from Gaza not controlled by Israel, has been closed since Tuesday after Israeli bombardments hit on the Palestinian side, according to officials in Gaza and Egyptian sources.
Persons: Khan Younis, Abu Mustafa, Jake Sullivan, Abdel Fattah al, Sisi, Antonio Tajani, Tajani, Sameh Shoukry, Omar Abdel Razak, Ahmed Elimam, Aidan Lewis, Alison Williams, Toby Chopra Organizations: REUTERS, Hamas, U.S . National, Italian, Thomson Locations: Gaza, Egypt, CAIRO, United States, Israel, Cairo, Qatar, Turkey, Europe
NEW YORK (AP) — Fiction originally written in Vietnamese, Polish and French and poetry in German and Arabic are among this year's finalists for National Translation Awards. On Wednesday, the American Literary Translators Association announced lists of six finalists in prose and poetry, with winning translators in each category receiving $4,000. In prose, nominees include Thuân's novel “Chinatown,” translated from Vietnamese by Nguyễn An Lý; Mikołaj Grynberg's “I’d Like to Say Sorry, But There’s No One to Say Sorry To,” translated from Polish by Sean Gasper Bye; and Monique Ilboudo's “So Distant from My Life,” translated from French by Yarri Kamara. The other prose finalists are László Krasznahorkai's “Spadework for a Palace," translated from Hungarian by John Batki; B. Jeyamohan's “Stories of the True,” translated from Tamil by Priyamvada Ramkumar; and Sheela Tomy's debut novel “Valli," translated from Malayalam by Jayasree Kalathil. Political Cartoons View All 1206 Images
Persons: Sean Gasper, Monique Ilboudo's “, Yarri Kamara, John Batki, Priyamvada Ramkumar, Sheela Tomy's, “ Valli, Jayasree Kalathil, Nelly Sachs, , Joshua Weiner, Linda B, Parshall, Phoebe Giannisi's “, Brian Sneeden, Wong, Iman Mersal's “, Robyn Creswell, Venus Khoury, Ghata's, Marilyn Hacker, Ananda Devi's “, Kazim Ali Organizations: Translators Locations: Tamil
The firm upgraded the technology stock to outperform from in line and increased its price target to $135 from $131. Analyst Kirk Materne said Oracle's 13% slide since mid-September presents investors with a strong buying opportunity, while the company will continue to grow its cloud segment. "We believe that the recent pullback after F1Q results creates a more compelling entry point for Oracle for those investors willing to take a 6-9 month view," Materne said. Despite its recent decline, Oracle shares are up roughly 35% for 2023. ORCL YTD mountain Oracle stock in 2023 — CNBC's Michael Bloom contributed to this report.
Persons: Evercore, Kirk Materne, Materne, , Michael Bloom Organizations: ISI, Oracle, Oracle Cloud Infrastructure
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMeta's stock will continue to increase amid gains, says Evercore ISI's Mark MahaneyMark Mahaney, Evercore ISI head of internet research, joins 'Closing Bell' to discuss Amazon's investment in artificial intelligence company Anthropic, Meta's stock price trajectory, and more.
Persons: Evercore, Mark Mahaney Mark Mahaney
Evercore ISI's Greg Melich is bullish on Costco. Here's why
  + stars: | 2023-09-21 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEvercore ISI's Greg Melich is bullish on Costco. Here's whyGreg Melich, Evercore analyst, joins 'Power Lunch' to discuss his bullish stance on Costco ahead of its next earnings report.
Persons: Greg Melich Organizations: Costco
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're only in the 2nd or 3rd inning for the grocery delivery space, says Evercore ISI's Mark MahaneyMark Mahaney, Evercore ISI Head of Internet Research and Don Short, InvestX Head of Venture Equity, join 'Closing Bell Overtime' to talk Instacart pricing ahead of its IPO, ad revenue in the grocery delivery space and more.
Persons: Evercore, Mark Mahaney Mark Mahaney, Don Short Organizations: Internet Research, of Venture Equity
Known as a hard-liner, Raisi seemingly sought to strike a diplomatic tone. Raisi acknowledged that Iran and Russia have long had strong ties, including defense cooperation. But he denied sending weapons to Moscow since the war began. “If they have a document that Iran gave weapons or drones to the Russians after the war," he said, then they should produce it. Raisi has sought, without evidence, to portray the popular nationwide demonstrations as a Western plot.
Persons: , Ebrahim Raisi, Joe Biden, Raisi, , ” Raisi, Bashar Assad, Israel, Mahsa, Organizations: Monday, General Assembly, United, United Arab Emirates Locations: Russia, Ukraine, United States, Iran, Qatar, Moscow, Saudi Arabia, United Arab, Persian, Tehran, Yemen
Hisham Kassem, a former newspaper publisher publisher and political activist, speaks during an interview with Reuters TV at his family's cemetery, in Cairo, Egypt, June 13, 2023. Kassem is a leader of al-Tayar al-Hurr, or Free Current, a newly formed liberal group. No serious challenge is expected against Sisi, a former army chief who has continued backing from the security forces. Kassem, a former publisher of Al-Masry Al-Youm newspaper, had started then suspended a hunger strike while in detention. Sisi has presided over a far-reaching crackdown on political dissent that has swept up critics from across the political spectrum.
Persons: Hisham Kassem, Ahmed Fahmy, Abdel Fattah al, Kassem, Nasser Amin, Amin, Sisi, Masry, Aidan Lewis, Omar Abdel, Nick Macfie Organizations: Reuters TV, REUTERS, Rights, Saturday, Sisi, Authorities, U.S, Thomson Locations: Cairo, Egypt, Rights CAIRO, United States
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