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Goldman Sachs reiterates Netflix as neutral Goldman said it's standing by its neutral rating heading into earnings next week. Barclays reiterates Disney as equal weight Barclays said it's cautious on Disney heading into earnings in early November. JPMorgan reiterates Apple as overweight JPMorgan said its Apple survey checks show product delivery times are moderating. Bank of America initiates Motorola Solutions as buy Bank of America said Motorola is "well-positioned with multiple tailwinds supporting growth." Bank of America downgrades Datadog to neutral from buy Bank of America said it's concerned about slowing demand for the software company.
Persons: Wells, JPMorgan, Domino's, Goldman Sachs, Goldman, it's, Baird, Tesla, TSLA, Jefferies, Redburn, Evercore, Lennox, Piper Sandler, Piper Organizations: Meta, JPMorgan, Arm Holdings, Bank of America, Netflix, Barclays, Disney, ESPN, Apple, Holdings, " Bank of America, Motorola Solutions, Motorola, American, Spotify, Oracle, Citi, Patterson, UTI Energy Locations: Datadog, SASE, CY26
The technical trade: Coterra Energy, CME Group, & Zscaler
  + stars: | 2023-10-09 | 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 EmailThe technical trade: Coterra Energy, CME Group, & ZscalerAri Wald, managing director and head of technical analysis at Oppenheimer, joins 'Power Lunch' to discuss the technical support for Coterra Energy, CME Group, and Zscaler.
Persons: Zscaler Ari Wald, Oppenheimer Organizations: Coterra Energy, CME Group
Zscaler could benefit from the growth of an emerging form of cybersecurity, according to Barclays. The firm upgraded the cloud security stock to overweight from equal weight and upgraded its price target to $190 from $176. Analyst Saket Kalia said the company's growing Zscaler for Workloads platform as well as a growth opportunity in the secure access service edge (SASE) cybersecurity segment underpinned the upgrade. The analyst added that growth in SASE cybersecurity could grow to become the same size or larger than regular network security protocols in three years, which could help propel Zscaler going forward. ZS YTD mountain Zscaler in 2023 — CNBC's Michael Bloom contributed to this report.
Persons: Saket Kalia, we're, Kalia, Zscaler, , Michael Bloom Organizations: Barclays Locations: SASE
Jim Cramer sees a bull market in cybersecurity
  + stars: | 2023-10-09 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Despite recent market weakness in several sectors, CNBC's Jim Cramer said he sees a bull market in cybersecurity. "You always want to buy the stocks of companies in industries where demand is most rabid," Cramer said. MGM , Caesars , Johnson Controls and Clorox have faced recent hacks. Clorox took a huge earnings hit due to processing delays and product outages, Cramer noted. To Cramer, cybersecurity companies such as Palo Alto Networks , CrowdStrike , Okta and Zscaler may be very valuable with businesses willing to pay high prices to protect against hackers.
Persons: Jim Cramer, Cramer, Clorox Organizations: U.S . Securities, Exchange Commission, MGM, Caesars, Johnson, Palo Alto Networks Locations: cybersecurity
Spotify — Shares of the music streaming service company fell 2.5% after Redburn Atlantic downgraded the streaming giant to neutral from buy. Tesla — The automaker's stock fell 2.3% in Monday trading upon news that the company's year-over-year sales declined 10.9% in China last month, according to data from the China Passenger Car Association. Oil stocks — Energy stocks soared following the escalation of the Israel-Hamas conflict over the weekend. Airline stocks — On a broader level, airline names were down after several major airlines suspended service to Israel following this weekend's attacks. United Airlines slid 5.3%, while Delta Air Lines and American Airlines shed 4.5% and 5.3%, respectively.
Persons: Elizabeth, Saket Kalia, Bristol Myers, Tesla, Baird, — Datadog, Hess, Northrop Grumman, Yun Li, Tanaya Macheel, Sarah Min, Jesse Pound Organizations: General Dynamics Corp, Spotify, Atlantic, Amazon, Barclays, Therapeutics, Bristol, Bristol Myers Squibb, China Passenger Car Association, Motorola Solutions, Motorola, Bank of America, — Energy, Halliburton, CF Industries, Defense, L3Harris Technologies, General Dynamics, Airline, United Airlines, Delta Air Lines, American Airlines Locations: NASSCO, Norfolk , Virginia, China, Israel, Palestine
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Powell and Philadelphia Fed President Patrick Hasker will speak at a roundtable discussion, due 11 a.m. Later in the day, Cleveland Fed President Loretta Mester will speak on the outlook for the U.S. economy. Rivian Automotive (RIVN.O) advanced 2.9% after Evercore ISI raised the EV maker's stock to "outperform" from "in line". Reporting by Shubham Batra and Shashwat Chauhan in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
Persons: Brendan McDermid, Jerome Powell, Patrick Hasker, Loretta Mester, Russell Hackmann, Kevin McCarthy, bitcoin, Piper Sandler, Goldman Sachs, Shubham Batra, Shashwat Chauhan, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal, Philadelphia Fed, Cleveland Fed, Hackmann Wealth Partners, Democratic, Republican, Dow e, Nvidia, Rivian, ISI, EV, Thomson Locations: New York City, U.S, Powell, Singapore, Bengaluru
Three-Stock Lunch: K, FWONK & ZS
  + stars: | 2023-10-02 | 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 EmailThree-Stock Lunch: K, FWONK & ZSSylvia Jablonski, Defiance ETFs, joins ‘Power Lunch’ to discuss three stocks: Kellanova, Liberty Media Formula One and Zscaler.
Persons: ZS Sylvia Jablonski Organizations: Liberty Media Locations: Defiance
Here are Monday's biggest calls on Wall Street: Goldman Sachs adds Nvidia to the conviction buy list Goldman said the stock is well positioned to benefit for AI. UBS initiates Sunnova as buy UBS said the solar company is best positioned to take share. Morgan Stanley upgrades U.S. Steel to overweight from equal weight Morgan Stanley said in its upgrade of the steel stock that the transformation continues. UBS reiterates Amazon as buy UBS raised its price target on Amazon to $180 per share from $175 and says it's bullish on ads in Prime video content. Morgan Stanley reiterates TJX Companies as overweight Morgan Stanley said it's sticking with its overweight rating after a meeting with company management.
Persons: Goldman Sachs, Goldman, bullish, Evercore, RIVN, Gordon Haskett, Piper Sandler, Piper, Jefferies, Truist, Wells, ROY, SolarEdge, Morgan Stanley, Davidson, CLX, it's Organizations: Nvidia, UFC, WWE, UBS, NOVA, Susquehanna, FedEx, Meta Connect, Microsoft, Barclays, JPMorgan, Apple, Steel, Bank of America, NSC, Amazon, TJX Companies Locations: PODD, GLP, 3Q23, 2Q23, 1Q23, 4Q23, Europe, Bank of America downgrades Norfolk Southern
Here are five such stocks chosen by Wall Street's top analysts, according to TipRanks, a platform that ranks analysts based on their past performance. Further, the company continues to invest in AI and sees huge growth potential for its AI-powered features. The analyst noted that the company achieved strong growth in new products under its Identity, Cloud, and LogScale Security Information and Event Management (SIEM) offerings. Nevertheless, he feels that this pullback has created an attractive opportunity to buy CMG stock based on multiple positive catalysts that could emerge in the months ahead. Tarantino reaffirmed a buy rating on CMG stock with a price target of $2,400.
Persons: Wall, TD Cowen, Shaul Eyal, Zscaler, Eyal, Needham, Alex Henderson, Henderson, TipRanks, Baird, David Tarantino, Tarantino, LULU, Robert Drbul, Lulu, Drbul Organizations: Nasdaq, Investments, CrowdStrike, Security, Management, Charlotte, Microsoft, Grill, Lululemon Athletic, Guggenheim, Acushnet Locations: cybersecurity, Mexican, North America, China, Greater China
Roku also boosted its third-quarter revenue guidance to between $835 million and $875 million, versus prior guidance of $815 million. AMC Entertainment — Shares tumbled 36.8% after AMC said it plans to sell up to 40 million new shares to raise cash. The issuance of additional shares was expected after it converted preferred APE shares into AMC common stock in August. Revenue also beat expectations, coming in at $152 million, versus the $129 million expected. Harley-Davidson — The motorcycle maker gained 3.16% after it authorized the repurchase of up to an additional 10 million shares.
Persons: Roku, Tesla, Elon Musk, Apple, AeroVironment, Thoma Bravo, Davidson, Zscaler, LSEG, Wall, Dexcom, , Macheel, Alex Harring, Michael Bloom Organizations: Street, SpaceX, Twitter, AMC, Journal, Bank of America, LSEG, Revenue, Healthcare, Dominion Energy, Dominion, Southwest Airlines —, Southwest Airlines Locations: Virginia, China, Enbridge, Southwest
Roku also lifted its third-quarter revenue guidance, saying it now expects revenue to range between $835 million and $875 million, versus prior guidance of $815 million. Along with the workforce reductions, Roku said it plans to consolidate office space and review its content slate to trim expenses. Zscaler posted adjusted earnings of 64 cents per share while analysts polled by LSEG, formerly known as Refinitiv, expected 49 cents. Additionally, the cybersecurity company said earnings and revenue should come in ahead of what analysts anticipate in the current quarter. GitLab — Shares of the technology platform jumped 6.5% in premarket trading following a strong second-quarter report postmarket Tuesday.
Persons: Roku, Zscaler, Needham, GitLab, LSEG, Asana, AeroVironment, Sam Subin, Michelle Fox Theobald, Jesse Pound Organizations: LSEG, Revenue, Dominion Energy, Dominion, UBS, Southwest Airlines —, Southwest, Novo Nordisk — Locations: Hastings, Hudson , New York, Enbridge, Dallas, Danish, Europe
In prepared remarks for a speech, she said the Fed is "well positioned to proceed cautiously in this uncertain economic environment." Those sentiments mesh with recent statements from Fed Chairman Jerome Powell and Fed Gov. I did not hear a resounding endorsement of the 27.5% tariffs on Chinese EVs. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. Thermo Fisher ScientificUBS downgrades "sainted" Block ToastMorgan Stanley goes equal weight from underweight (hold from sell) on First SolarAeroVironmentSouthwest Airlines
Persons: Susan Collins, Jerome Powell, Christopher Waller, Gina Raimondo, Jim Cramer's, Leerink, Morgan Stanley Organizations: Boston Federal, Fed, Oracle, Microsoft, Fisher Scientific UBS
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailZscaler CEO Jay Chaudhry talks 2024 outlook after quarterly earnings beatJay Chaudhry, Zscaler CEO, joins 'Closing Bell Overtime' to talk quarterly earnings, his upbeat 2024 outlook, softening in the cybersecurity space and more.
Persons: Jay Chaudhry
Arora Nikesh, Palo Alto Networks CEO & Chairman at the WEF in Davos, Switzerland on May 23rd, 2022. Zscaler (ZS) reported strong quarterly results Tuesday evening, but Palo Alto Networks (PANW) is still the top cybersecurity pick for CNBC's Jim Cramer. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. Palo Alto is the leading name, in part, because of the company's strong management, with Cramer on Wednesday calling CEO Nikesh Arora the Tom Brady of executives. The CNBC Investing Club owns Palo Alto shares.
Persons: Arora, CNBC's Jim Cramer, Zscaler, Jim Cramer's, Cramer, Nikesh Arora, Tom Brady Organizations: Palo Alto Networks, billings, CNBC Investing Club, Palo Alto Locations: Palo, Davos, Switzerland
Morning Bid: Global business splutters, dollar surges
  + stars: | 2023-09-05 | by ( ) www.reuters.com   time to read: +4 min
But the U.S. jobs picture underscores the "soft-landing" consensus - something Tuesday's updates on global business surveys from last month suggest may not be the case elsewhere. Even though messy workouts of China's ongoing property bust were some relief - as real estate giant Country Garden made some last minute dollar bond payments - the funk in the wider economy clearly persists. That saw the euro fall back against the dollar to levels not seen since mid-June. But that provided little solace to sterling , which was also pummelled by the dollar to its lowest since June. The sour business polls took some heat out of the recent oil price rebound , but did little to calm the long end of the bond market.
Persons: Dado Ruvic, Mike Dolan, disinflation, Philip Lowe, Glazer, Luis de Guindos, Isabel Schnabel, Hugh Lawson Organizations: REUTERS, U.S, Reserve Bank of Australia, Stock, Wall, English football, Manchester United, Sunday, Central Bank, ECB, Treasury, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, Europe, China
Zscaler — The cloud security stock slipped 1% even after a better-than-expected report for its fiscal fourth quarter and strong current-quarter guidance. Zscaler reported adjusted earnings of 64 cents per share while analysts polled by LSEG, formerly known as Refinitiv, expected 49 cents. GitLab posted adjusted earnings of 1 cent per share on $140 million in revenue. Meanwhile, analysts polled by LSEG anticipated a loss of 3 cents per share and revenue of $130 million. Analysts polled by LSEG called for earnings of 26 cents per share and revenue of $129 million.
Persons: Zscaler, GitLab, LSEG, Asana, AeroVironment, Darla Mercado Organizations: LSEG, Revenue
All three major U.S. stock indices rebounded this past week following a lackluster August, delivering their best one-week performances since July. Here's a quick update on the past week: The August ADP employment report numbers came in lower than expected. Earnings : No Club companies report next week. Over 99% of S & P 500 companies have now reported earnings results for the second-quarter season, according to FactSet. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Nonfarm payrolls, Dow Jones, Buster's, Jim Cramer's, Jim Cramer, Jim, Michael M Organizations: Dow Jones, Nasdaq, Federal Reserve, Labor, U.S . Labor Department, ISM Manufacturing, Broadcom, VMware, PMI, Photonics, Akoustis Tech, GameStop, Eagle Outfitters, SAIC, Brands, ABM Industries, Kroger, KR, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: U.S, Asana, ASAN, New York City
CrowdStrike shares rose as much as 10.2% to $164.41 on Thursday and was last trading at $162, up 8.59%. Okta's shares rose 17.6% to $86.50, their highest level since May. Other cybersecurity firms were also trading higher, buoyed by CrowdStrike and Okta. Multiple analysts raised their price target for the shares of CrowdStrike and Okta in reaction to the news. Austin, Texas-based CrowdStrike delivers cloud-based cybersecurity protection through its Falcon platform that is used by many large U.S. companies.
Persons: Dado Ruvic, CrowdStrike, Okta, Chibuike Oguh, Lance Tupper, Mark Porter Organizations: REUTERS, CrowdStrike Holdings, Okta Inc, Wall, Zscaler Inc, Nasdaq, Palo Alto Networks, Thomson Locations: CrowdStrike, Austin , Texas, U.S, San Francisco, New York
Aug 18 (Reuters) - Palo Alto Networks (PANW.O) forecast annual billings above market estimates on Friday, in a sign that more businesses were turning to its integrated cybersecurity offerings to combat rising digital threats. Palo Alto projected full-year billings to be between $10.9 billion and $11.0 billion, compared with the Visible Alpha consensus estimate of $10.80 billion. Shares of Santa Clara, California-based Palo Alto have declined around 17% since it set Friday as its earnings date earlier this month — a move some analysts termed as "head scratching". Its fourth-quarter revenue grew about 26% to $1.95 billion, roughly in line with analysts' expectations, according to Refinitiv data. Palo Alto expects annual adjusted profit per share to be between $5.27 and $5.40, compared with analysts' expectations of $4.98.
Persons: billings, Nikesh Arora, Jaspreet Singh, Shilpi Majumdar Organizations: Palo Alto Networks, Palo Alto, platformization, Global, Palo, Software Technologies, Thomson Locations: billings, Santa Clara , California, Alto, Bengaluru
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: I like Crocs but I worry about the 'fad' aspect, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Crocs, Zscaler, EPR Properties, Honeywell, General Dynamics and BDX.
Persons: Jim Cramer Organizations: Honeywell, General Dynamics
Cramer's Lightning Round: Pass on Crocs
  + stars: | 2023-08-08 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Crocs' year-to-date stock performance. Stock Chart Icon Stock chart icon Zscaler's year-to-date stock performance. Stock Chart Icon Stock chart icon EPR Properties' year-to-date stock performance. Stock Chart Icon Stock chart icon General Dynamics' year-to-date stock performance. Stock Chart Icon Stock chart icon Becton, Dickinson and Co.'s year-to-date stock prerformance.
Persons: Crocs, I'm, Dickinson Organizations: Microsoft, Zscaler, Dynamics Locations: Becton
Wall Street analysts named a list of stocks this week that they say could offer protection for investors as market tension rises. "We view Zscaler as a best-in-class, next generation cybersecurity company built for the distributed cloud world," he added. Earlier this week, the firm initiated coverage of the aerospace and defense components company with a buy rating. Zscaler - BTIG, buy rating "Over the last couple of months, we have spoken with seven contacts with a view on ZS, and feedback has been consistently positive. TransDigm Group - Citi, buy rating "The company's focus on proprietary products & lean operations affords pricing power and margin expansion potential.
Persons: Jason Kupferberg, Kupferberg, TOST, Zscaler, Gray Powell, Powell, Jason Gursky, Gursky, TransDigm, BURL, ROST, LULU, NetEase, Morgan Stanley Organizations: CNBC, Urban Outfitters, Toast Bank of America, TransDigm Group Citi, TransDigm, Barclays, Free, Citi, NetEase, Bank of America, TAM Locations: 2H23
A consortium led by Francisco Partners and private equity group TPG will take software provider New Relic private in an all-cash, $87-a-share offer that values the company at nearly $6.5 billion, the company announced Monday. Reuters reported in May that Francisco Partners and TPG had ended deal talks after failing to secure enough debt financing to meet New Relic's desired valuation. Since that report, the private equity groups were able to obtain financing and meet New Relic's valuation requirements. Under the terms of the deal, New Relic will have a 45-day "go-shop" period, during which it can entertain offers from other qualified bidders. Francisco Partners is a technology-focused private equity firm with past investments in Barracuda Networks, On Semiconductor , and K2.
Persons: Lew Cirne, Jana, Zscaler Organizations: Francisco Partners, TPG, New York Stock Exchange, Reuters, New, Jana Partners, Barracuda Networks, Semiconductor, Sumo Logic
Here are Tuesday's biggest calls on Wall Street: UBS reiterates Nike as buy UBS said it's getting incrementally bullish on the stock and that it could double. " BTIG upgrades Zscaler to buy from neutral BTIG said its checks on the IT stock have been "consistently positive." Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating heading into Apple earnings next week. Goldman Sachs reiterates Apple as buy Goldman said it's standing by its buy rating heading into earnings next week. Morgan Stanley names Elevance a top pick Morgan Stanley named the health insurance provider as a top pick and said it sees further earnings per share growth.
Persons: it's, Morgan Stanley, Apple, Piper Sandler, Wells, Goldman Sachs, Goldman, Mizuho, Oppenheimer, TSCO, Citi downgrades Goldman Sachs, TD Cowen, Wolfe, Baird, HWM, Elevance, Comm, Flywire Organizations: UBS, Nike, Apple, Walmart, Piper, Signet, Superior Unit, Costco, Citi, adv, 2Q, Meta, Digital Ad, Bank of America downgrades, Supply, Bank of America, HSBC, Zynga, Disney, Mizuho, Howmet Aerospace, Airbus Locations: Wells Fargo, 2Q23
3M posted $7.99 billion in revenue, beating analysts' estimates of $7.87 billion, according to Refinitiv. Elsewhere, RTX reported second-quarter earnings that topped Wall Street expectations, posting $1.29 in adjusted earnings per share on $18.32 billion in revenue. The home appliance company posted revenue of $4.79 billion, lower than the consensus estimate of $4.82 billion, according to Refinitiv. It did beat on earnings expectations, reporting adjusted earnings of $4.21 per share, higher than the $3.76 estimate. The company notched adjusted earnings per share of $3.29, while analysts estimated $2.70 per share.
Persons: Refinitiv, RTX, it's, Biogen, Morgan Stanley, FactSet, General Motors, Invesco, Andrew Schlossberg, BTIG, Sherwin, Williams, Yun Li, Samantha Subin, Sarah Min, Tanaya Macheel, Brian Evans, Alex Harring Organizations: Spotify, Alaska Air, Pratt & Whitney, Airbus, General, GE, Whirlpool, Revenue, LG Electronics, LG Energy, GM, Refinitiv, UPS, Teamsters, Xerox –, Xerox, Packaging Corp, America, Secure
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