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☆ Stock futures are little changed ahead of Fed's rate decision, consumer inflation data: Live updates
▼ + stars: | 2024-06-11 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Stock futures oscillated near the flatline Tuesday night as investors awaited the Federal Reserve's interest rate decision and May's consumer inflation data. S&P 500 futures inched lower by 0.01%, while Nasdaq 100 futures were little changed. During Tuesday's trading, investors' rotation into Apple helped lift the S&P 500 and the Nasdaq Composite to fresh closing highs. Investors are looking to Wednesday's conclusion of the Fed's two-day policy meeting, which will feature an rate policy decision and a subsequent press conference with Fed Chair Jerome Powell. Investors have grown increasingly concerned that the recent strong jobs report and sticky inflation support a higher-for-longer interest rate environment.

Persons: Dow, Jerome Powell, Quincy Krosby Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Oracle, Google, Apple, LPL

☆ Stocks making the biggest moves midday: Affirm, General Motors, Apple and more
▼ + stars: | 2024-06-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Affirm Holdings – The stock popped nearly 7% following the announcement that its buy now, pay later loans will be embedded into Apple Pay as an option for purchases. U.S. Apple Pay users on iPhones and iPads will be able to use the option later this year, the company said in a filing. General Motors – The automaker's stock added about 2% after announcing a $6 billion share repurchase program. Apple – The stock jumped around 6% one day after the iPhone maker announced its artificial intelligence strategy at its Worldwide Developers Conference . GameStop – The stock rose about 2%, trimming losses after its recent slide.

Persons: General Motors, Siri, Keith Gill, Pierre Brondeau, Mark Douglas, Ronaldo Pereira, Elliott, Lee Cole, FactSet, —, Alex Harring, Samantha Subin, Lisa Kailai Han, Pia Singh, Sarah Min, Jesse Pound Organizations: Apple Pay, Apple, General, GM, Worldwide Developers, OpenAI, GameStop, FMC, JPMorgan, Reuters, Apollo, Kyndryl Holdings, Southwest Airlines –, Academy Sports, Bank of America Locations: Southwest

☆ Stocks making the biggest moves midday: Southwest Airlines, GameStop, Advanced Micro Devices and more
▼ + stars: | 2024-06-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Southwest Airlines — The stock rose 9% after activist hedge fund Elliott Management amassed a $1.9 billion stake in Southwest Airlines. GameStop — The meme stock slipped nearly 15% in volatile trading after a roller-coaster week. Advanced Micro Devices — The chipmaker fell 3% after Morgan Stanley downgraded shares to equal weight from overweight, saying investors' expectations look elevated. ReNew Energy Global — Shares popped more than 7% after Morgan Stanley upped its price target, saying the narrative for the U.K.-based company remains strong. DraftKings — The sports entertainment stock gained 2% after Morgan Stanley renamed the company as a top pick.

Persons: Bob Jordan, Gary Kelly, Keith Gill, Huntington Bancshares, Huntington, Morgan Stanley, GoDaddy —, Dow, Robert Half, Jefferies, DraftKings, Yun Li, Alex Harring, Michelle Fox, Sarah Min, Pia Singh, Sean Conlon Organizations: Southwest Airlines, Management, Southwest, GameStop, KKR, CrowdStrike, GoDaddy — KKR, Dow Jones, Comerica, Apple, Energy, Jefferies Locations: 2H24, Illumina, Illinois

Analyst Stephen Grambling reiterated his overweight rating on shares, which he thinks should move higher based on potential earnings upside. Analyst Christopher Horvers upgraded the big-box retailer to overweight and hiked his price target by $15 to $81, which suggests 25.4% potential upside. Analyst Tom O'Malley's price target is now $145 per share, which implies 19.9% potential upside from Friday's close. Ramsey also attributed his new price target to the firm's latest data center modeling which estimates a software-based revenue breakout for Nvidia. He raised his price target to $150, which implies 40.8% upside from Friday's close.

Persons: Morgan Stanley, Stephen Grambling, Grambling, — Pia Singh, Christopher Horvers, Horvers, Tom, O'Malley, TD Cowen, Matthew Ramsey, Ramsey, Rajat Gupta, Gupta, CVNA, Joseph Moore, Moore, Fred Imbert Organizations: CNBC, Monday, JPMorgan, North America Gaming, Illinois Senate, Walmart, Nvidia, Barclays Barclays, Sovereign, Broadcom, AMD Locations: Illinois, North, IL

☆ UBS says this high-risk space stock could rally 50%
▼ + stars: | 2024-06-10 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Texas-based satellite manufacturer AST SpaceMobile is a risky — but worthwhile — investment, according to UBS. Analyst Christopher Schoell increased his price target for the stock by $6 to $13, implying a whopping 50.8% potential upside as of Friday's close. The shares have climbed nearly 44% so far this year, and skyrocketed about 284% over the past month. "We still see ASTS as a high-risk, high-reward investment that is subject to various risks," Schoell said in a Monday note. Still, the stock has several risks that could create uncertainties for the company's path ahead, such as launch timing and the possibility of failures, regulatory issues, funding and competition.

Persons: Christopher Schoell, Schoell Organizations: UBS, AST, Verizon, Federal Communications, Vodafone, Google Locations: Texas

☆ These stocks are attractively valued and are expected to make new highs
▼ + stars: | 2024-06-09 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

There's a growing dominance of technology stocks in the stock market. Using LSEG, we searched for stocks outside the concentrated tech universe that are expected to reach new highs. Citizens Financial has a forward P/E ratio of 12.1 and five-year P/E of about 15, while Fifth Third's forward P/E is 11.1 and its five-year slightly lower, at about 10.8. Analysts polled by LSEG think shares have about 18% upside potential, and the stock also has an attractive forward P/E ratio of about 4.77, by far the least of the group. Other attractive stocks that could reach new highs include homebuilder Pultegroup and insurance company Allstate .

Persons: Stocks, Dow, Ryan Grabinski, Kevin Holt, Wolfe, Bill Carache, Carache, General Motors, LSEG Organizations: Nasdaq, Nvidia, Microsoft, Apple, Strategas Securities, CNBC, Oil, Chevron, Exxon Mobil, Invesco Energy, Exxon, ConocoPhillips, Marathon, Citizens Financial Group, Fifth Third Bancorp, Financial, Fifth, Wolfe Research, Automotive, General, Allstate Locations: Guyana, Chevron

☆ Here’s where the jobs are for May 2024 — in one chart
▼ + stars: | 2024-06-07 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

The three sectors, respectively, added 68,000, 43,000 and 42,000 jobs, similar to trends seen over the past year. The U.S. economy added 272,000 jobs for the month , coming out significantly higher than the Dow Jones consensus estimate of 190,000. Job growth in May was surprisingly strong, pushing back on lingering fears of a broader economic slowdown and likely slowing the Federal Reserve's rate-cutting timeline. On the other hand, social assistance employment trended higher as it added 15,000 last month, below the sector's average of 22,000 jobs per month seen over the last year. Investors walked away from the report discouraged that the Federal Reserve would cut rates in June, noting that the increase in job growth and above-average wage growth paints a picture of a fairly strong consumer.

Persons: Dow Jones, That's, Sonu Varghese Organizations: U.S . Bureau of Labor Statistics, Investors, Federal Reserve, Carson Group Locations: U.S

☆ UBS says this clothing stock is one of its top picks and has 40% upside
▼ + stars: | 2024-06-07 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

PVH , parent of the Calvin Klein and Tommy Hilfiger brands, should see strong earnings ahead, according to UBS. Analyst Jay Sole kept his buy rating and hiked his price target on the clothing maker by 9%, or $14, to $174, which implies a potential upside of 43%. "We think PVH has the brand strength and balance sheet to drive earnings growth over the long term," Sole said in a Thursday note. He forecast PVH delivering five-year earnings growing at a 10.5% compound annual growth rate and raised his FY26 earnings per share estimate to 4%. The company probably saw 65% of sales and nearly 90% of profits coming outside North America, Sole said, but should be able to drive U.S. sales growth moving forward.

Persons: Calvin Klein, Tommy Hilfiger, Jay Sole, Phillips, Van Heusen's, PVH, Sole Organizations: UBS Locations: North America

Oppenheimer raised its price target on Walmart to $75, reiterating its outperform rating on shares. Goodall's $70 price target implies 32.3% potential upside for the stock, which has advanced 28.2% this year already. His price target of $165, up from $145, implies upside of nearly 22% over the next 12 months. COF YTD mountain — Fred Imbert 5:42 a.m.: Oppenheimer hikes price target on Walmart, supports premium valuation for shares Walmart shares are still positioned for steady outperformance, according to Oppenheimer. Analyst Rupesh Parikh reiterated his outperform rating and lifted his price target by $6 to $75, which suggests shares could climb 11.8%.

Persons: Oppenheimer, Jefferies, Goldman, Didier Scemama, Scemama, — Pia Singh, Goldman Sachs, Toshiya Hari, Jensen Huang, Hari, James Goodall, Goodall, John Hecht, Hecht, Fred Imbert, Rupesh Parikh, Parikh Organizations: CNBC, Walmart, buildout Bank of America, Nvidia, United Airlines, Atlantic, Delta, United, Jefferies, Discover Financial Locations: North America, Taiwan, COF

☆ Move over 'Magnificent 7,' the 'Fantastic 5' may offer higher earnings and return potential
▼ + stars: | 2024-06-06 | by ( Pia Singh | ) www.cnbc.com time to read: +6 min

Looking for a less risky way to find growth stocks amid all the artificial intelligence hype? Looking ahead, Thornburg expects the Fantastic Five's outperformance to continue, with the forward price-to-earnings ratio of the European group falling below the seven U.S. stocks starting in 2026 and running through 2028. The money manager also projected that the European group will increase earnings 18% a year over the next three years versus 14% for the "Mag 7." ASML, the biggest producer of the equipment used to manufacture semiconductors, makes "leading-edge" lithography equipment needed to produce AI chips, Anderson said. He manages the Thornburg International Growth Fund , a concentrated portfolio of high-quality companies based outside the U.S., which has gained 8.8% year-to-date.

Persons: Nicholas Anderson, Anderson, Thornburg, It's, it's, FactSet, ASML Organizations: Thornburg Investment Management, Novo Nordisk, ASML, LVMH, AstraZeneca, SAP, Nvidia, Big Tech, Microsoft, Apple, GLP, Nordisk, Taiwan Semiconductor, Bloomberg, Growth Fund Locations: U.S, Novo, Europe, Belgium

☆ JPMorgan upgrades this beaten-down payments stock, says it can surge 50%
▼ + stars: | 2024-06-06 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

An overseas investment idea investors shouldn't overlook is StoneCo., a Brazilian financial technology and software solutions company headquartered in the Cayman Islands that JPMorgan has grown bullish on. He maintained his $20 year-end price target, which implies roughly 50% upside from the stock's latest close. "We believe [a] Stone re-rating depends mostly on banking deliveries (i.e., deposits and healthy credit growth) rather than [the] macro environment." Stone's differentiated business model, based on a close approach to clients via hyper-local distribution centers, has allowed it to quickly expand its market share, Fernandes said. He estimates Stone has about 20% market share in the core micro, small and medium-sized businesses (MSMB) market .

Persons: Yuri Fernandes, Stone, Fernandes, Pedro Zinner, Stone's Organizations: JPMorgan, Stone, Reuters Locations: Brazilian, Cayman Islands, U.S

☆ Stocks making the biggest moves midday: CrowdStrike, GameStop, Dollar Tree, Nvidia and more
▼ + stars: | 2024-06-05 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Check out the companies making headlines in midday trading: CrowdStrike — The cybersecurity company popped 9% after posting a strong outlook and a first-quarter results beat. Dollar Tree — Shares of the discount retailer fell more than 4% after second-quarter guidance came in below expectations. Dollar Tree said it expected between $1 and $1.10 in adjusted earnings per share, while analysts surveyed by FactSet had penciled in $1.19 per share. Verint reported adjusted earnings of 59 cents per share on revenue of $221.3 million in the first quarter. Analysts surveyed by LSEG had anticipated just 54 cents in earnings per share and $214.5 million in revenue.

Persons: CrowdStrike, LSEG, FactSet, Kerrisdale, Brown, Forman, Verint, Tommy Hilfiger, PVH, Fadi Chamoun, Goldman Sachs, Goldman, KeyBanc, Lisa Kailai Han, Pia Singh, Yun Li, Sean Conlon, Jesse Pound, Samantha Subin Organizations: Hewlett Packard Enterprise, GameStop, AMC, Kerrisdale, FactSet, SAP, Archer Aviation, Federal Aviation Administration, Systems, Materials, KLA, Barclays, Taiwan Semiconductor Manufacturing, Authentic Brands, Old Dominion, BMO Capital Markets, Nvidia, America's, Jazz Pharmaceuticals Locations: China

☆ Two major investor groups with $6 trillion at work agree these are good stocks, according to Goldman analysis
▼ + stars: | 2024-06-05 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Hundreds of mutual funds and hedge funds overlap in their investments, creating some shared favorites between the two different investment vehicles, according to Goldman Sachs. This basket of stocks—which includes Danaher , Mastercard , Vertiv and Uber —are constituents of both Goldman's Hedge Fund VIP and Mutual Fund Overweight baskets. "Hedge funds and mutual funds have boosted exposures to equities this year, with hedge fund net leverage rising near its highest level over the past year and mutual fund cash balances dropping to record lows. Visa shares are up about 4.6% for the year, lifted by stronger-than-expected earnings in the fiscal second quarter. Both stocks have had a tough quarter, however, with Visa falling 2.4% since the end of March, while Mastercard shares have lost 7.6%.

Persons: Goldman Sachs, Vertiv, Uber, David Kostin, Kostin, Goldman, Alexander Blostein Organizations: Mastercard, VIP, Mutual Fund, FactSet, KKR, Visa, Tuesday's Locations: FRE

A gas stock and an e-commerce giant were among the stocks being talked about by analysts on Wednesday. The introduction of 2nm, a new generation of chips that are faster and consume less power than previous chips, should lead demand higher for the global semicap industry, analyst Simon Coles wrote in a note. The analyst said Amazon will continue to see growth ahead, however, as it views the e-commerce giant as a strong AI beneficiary. He added that Amazon should see continued OI expansion as Amazon Web Services accelerates and has a multi-billion-dollar AI revenue run-rate. — Pia Singh 5:46 a.m.: JPMorgan upgrades Sunoco Sunoco's recent acquisition will drive a rebound in the stock, according to JPMorgan.

Persons: Bernstein, Simon Coles, TSMC, Coles, — Pia Singh, Adrian Yanoshik, Yanoshik, Stellantis, Fadi, ODFL, Fadi Chamoun, Chamoun, Mark Shmulik, Shmulik, Sunoco, Jeremy Tonet, Tonet, Fred Imbert Organizations: CNBC, Wednesday, JPMorgan, Barclays, Taiwan Semiconductor, BMO Capital Markets, Old Dominion, Dominion Freight, Amazon, Amazon Web Services, NuStar Energy, SUN, NS Locations: U.S, Netherlands

☆ CNBC Daily Open: Roaring Kitty's wealth, Modi's victory
▼ + stars: | 2024-06-05 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

The S&P 500 inched up 0.15% and the Nasdaq Composite did marginally better, up 0.17%. Bath & Body Works was the worst-performing stock on the S&P 500, plunging almost 13% on disappointing guidance. With his 5 million shares of GameStop, if he were to exercise his 120,000 call options at $20 apiece, that would give him an additional 12 million shares — making him the fourth-largest shareholder in the games retailer. [PRO] June highThe S&P 500 will rally to fresh all-time high of 5,500 by the end this month, according to Fundstrat Global Advisors' Tom Lee. With the S&P 500 finishing Monday's trading session at 5,283.40 the forecast calls for upside of 4%.

Persons: Modi, Narendra Modi, Modi's, Keith Gill, Gill, Elon Musk, Tesla, Musk, Tom Lee, CNBC's Pia Singh, what's Organizations: CNBC, Dow Jones, Nasdaq, Body, Treasury, Bharatiya Janata Party, BJP, National Democratic Alliance, GameStop, Nvidia, Federal Reserve, Fundstrat Global Locations: Tesla

☆ Stocks making the biggest moves midday: Bath & Body Works, Carnival, GameStop and more
▼ + stars: | 2024-06-04 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Bath & Body Works — Shares of Bath & Body Works sank nearly 13% and headed for their worst day since 2021. Bath & Body Works expects earnings to range between 31 cents and 36 cents a share, behind a FactSet estimate of 38 cents in earnings per share. Saia — The freight company popped 6.7% after it posted higher less-than-truckload shipments per workday for April and May compared to a year earlier. Shares of BP and Exxon Mobil fell around 2.3% and 1.6%, respectively, while Diamondback Energy and Chevron shares fell nearly 1%. Stanley Black & Decker — The industrials stock fell about 3.7% after Barclays downgraded the stock to equal weight from overweight.

Persons: Keith Gill, Goldman Sachs, TZE, Goldman, Stanley Black, Decker, Julian Mitchell, Oppenheimer, Jed Kelly, —, Samantha Subin, Michelle Fox, Yun Li, Pia Singh, Lisa Han Organizations: Body, O Cruises, Carnival Cruise, GameStop, Street, Trade, Dominion Freight, Technologies, Energy, BP, Exxon Mobil, Diamondback Energy, Chevron, Barclays

☆ The S&P 500 will rise 4% to a record 5,500 by the end of this month, Fundstrat's Tom Lee says
▼ + stars: | 2024-06-04 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Lee called for the broad market index to reach 5,500 by the end of June. The S & P 500 finished Monday's trading session at 5,283.40 and is up about 3% over the past month. The broad market index fell more than 4% in April before surging nearly 5% in May to record highs above 5,300. I don't think one cut or three cuts makes [it] that much different for stocks," Lee said. "It all depends on inflation, really the edge coming off enough for the Fed to say we're comfortable cutting this year," he added.

Persons: Tom Lee, Lee, Lee's Organizations: Fundstrat Global, Federal Reserve

☆ Stocks making the biggest moves premarket: GameStop, Stericycle, MarineMax, Paramount and more
▼ + stars: | 2024-06-03 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Waste Management , SteriCycle — Shares of medical waste-disposal company Stericycle jumped 16% after Waste Management agreed to buy the company for $7.2 billion. Waste Management fell 1.5%. MarineMax — MarineMax, a recreational boat and yacht services company, popped 19% on a report that OneWater Marine is in talks to buy the company for $40 a share in cash. Boston Beer Company — Shares slid 11% after Bloomberg reported that Japanese brewer and distiller Suntory denied it's in talks to buy the Samuel Adams owner. Paramount Global — Shares added more than 6% after Skydance Media revised its buyout offer for Paramount and gave nonvoting shareholders an option to cash out Paramount Class B shares at a roughly 26% premium to Friday's close.

Persons: Keith Gill, Kitty, Stericycle, —, Cava, Rubin, Blackwell, it's, Samuel Adams, Alex Harring, Brian Evans, Michelle Fox Theobald Organizations: GameStop, AMC Entertainment, AMC, Waste Management, Bloomberg, JPMorgan, Nvidia, AMD, Monday, Sunday, Bank of America, Boston Beer, Suntory, Street, Citi, Spotify, GSK, Autodesk — Autodesk, Paramount, Skydance Media Locations: Cava, Taipei, U.S, Delaware

☆ These are JPMorgan’s top stock picks for clients heading into June
▼ + stars: | 2024-06-03 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

JPMorgan highlighted a group of stocks to kick off the new trading month, reflecting its analysts' top picks and some new favorites, including Carvana and L3Harris Technologies . United Airlines is up nearly 28% this year, and JPMorgan thinks the stock could have a roughly 85% rally over the next year. Jefferies recently upgraded the airline to buy from hold , hiking its price target by $11 to $65. Higher international margins and increased free cash flow generation compared to this time last year should also help drive shares higher, the analyst said. With a $544 price target, the beauty stock could climb 37.7%, according to JPMorgan.

Persons: Wells Fargo, Jefferies, Sheila Kahyaoglu Organizations: JPMorgan, L3Harris Technologies, United Airlines, Boeing, U.S Locations: Lowe's

☆ Stocks making the biggest moves midday: GameStop, Paramount, Spotify, Krispy Kreme and more
▼ + stars: | 2024-06-03 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Waste Management , Stericycle — Waste Management is buying Stericycle for $7.2 billion , the companies announced on Monday. Stericycle shares jumped nearly 15%, while Waste Management slid 4%. Spotify — The music streaming company climbed 4% following its announcement of premium subscription price increases in the U.S. in July. Lattice Semiconductor , Coherent — Lattice shares dove 11% after CEO Jim Anderson left to take the helm at Coherent, whose stock price jumped 17%. Krispy Kreme — Shares of the company rose 2% after it was upgraded to overweight at JPMorgan.

Persons: Keith Gill, Gill, Stericycle, CNBC's David Faber, Skydance, Shari Redstone, Jim Anderson, Esam, Dickinson, Edwards, Narendra Modi, Claudia Sheinbaum, Cava, Blackwell, Krispy Kreme, Masimo, Piper, Piper Sandler, Goldman Sachs, Goldman, — CNBC's Sean Colon, Yun Li, Pia Singh, Michelle Fox, Christina Cheddar, Berk Organizations: GameStop, DeepF, AMC, New York Stock Exchange, Waste Management, Spotify, GSK, Court, Paramount Global, Lattice Semiconductor, Company, Bloomberg News, JPMorgan, Nvidia, AMD, Bank of America, Therapeutics, Autodesk Locations: U.S, Swedish, Delaware, Becton, India, Mexico

☆ Best energy and utility stocks to own for rest of year, according to UBS
▼ + stars: | 2024-05-31 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

In a Thursday note, analyst Josh Silverstein listed the firm's "most compelling" buy-rated stocks to own across the energy and utilities sectors, including Suncor Energy , Coterra Energy , SLB , NextEra Energy and First Solar . Energy and utilities sectors are faring well this year, gaining 12.5% and 8.9%, respectively, while the broader market has advanced about 9.3%. His $90 price target suggests shares could jump 15.1%. First Solar is another favorite of UBS, which assigned the stock a $350 price target that implies 26.5% upside. Other energy and utility favorites UBS named include Coterra and Suncor Energy .

Persons: Josh Silverstein, William Appicelli, Jon Windham, —, SLB Organizations: UBS, Suncor Energy, Coterra Energy, NextEra Energy, . Energy, Big Tech Locations: Schlumberger

☆ Stocks making the biggest moves midday: Gap, MongoDB, Dell Technologies and more
▼ + stars: | 2024-05-31 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Check out the companies making headlines in midday trading: Dell Technologies — The software stock plunged 22% after executives cautioned that its gross margins could face more pressure in 2025. Zscaler — Shares added 5.2% after the cloud security company posted a fiscal third-quarter earnings and revenue beat. Gap — The clothing retailer soared 26% after posting fiscal first-quarter earnings per share of 41 cents, higher than the 14 cents analysts surveyed by LSEG had expected. The company beat earnings and revenue expectations for the April quarter, but still saw slower-than-expected consumption growth. SentinelOne expects its revenue to fall between $808 million to $815 million in 2024, which was lower than the $817 million forecast by LSEG.

Persons: Zscaler, LSEG, Nordstrom —, Nordstrom, chipmaker, Marvell, MongoDB, Sun Choe, Choe, Cooper, Paycom, Randy Peck, Christopher Thomas, Maheep, CNBC's Hakyung Kim, Yun Li, Jesse Pound, Pia Singh Organizations: Dell Technologies, Lionsgate, Citi, Starz, Nordstrom, Marvell Technologies, Vans, Cooper Companies, Mizuho Locations: Seattle

☆ Stocks making the biggest moves premarket: Dell Technologies, Ulta Beauty, Ambarella, Gap and more
▼ + stars: | 2024-05-31 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Dell Technologies — Stock in the personal computer and technology company slid more than 16% after executives warned about further margin pressure ahead. Nordstrom stuck by its full-year earnings forecast and reported strong growth in its Nordstrom Rack segment, which outperformed the headline brand stores. Gap — Shares climbed more than 25% after the apparel company lifted its full-year operating income forecast on the heels of a first-quarter earnings beat. Ulta on Thursday posted fiscal first-quarter earnings that reflected a 1.6% year-over-year increase in same-store sales, a significant slowdown from the same period a year earlier. MongoDB said it expected to earn 46 cents to 49 cents per share on $460 million to $464 million of revenue.

Persons: Jason Bazinet, Zscaler, Nordstrom, Ambarella, MongoDB, LSEG, Michelle, Sun, Choe, Wall, Lisa Kailai Han, Pia Singh, Jesse Pound Organizations: Dell Technologies, Lionsgate, Citi, Marvell Technologies, LSEG, Vans

☆ This software stock is quietly one of the best tech stocks of the decade and Bank of America sees more gains ahead
▼ + stars: | 2024-05-30 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Cadence Design Systems is well ahead of its artificial intelligence peers when it comes to delivering steady returns, according to Bank of America. The electronic systems design company is a "high-quality growth compounder" that's "well levered to AI," analyst Vivek Arya said in a Wednesday note to clients. Cadence develops software, hardware and intellectual property that is used to design chips and printed circuit boards, among other related products. "Over the past decade CDNS has delivered 33% annualized returns, 300bps ahead of rival SNPS , and among top 5 across our coverage, well-ahead of SOX index up 25%. Importantly, CDNS stock has outperformed the SOX index each of the 18 times the SOX index declined by over 10% since 2010."

Persons: Vivek Arya, Arya, CDNS Organizations: Cadence Design Systems, Bank of America, Cadence, PHLX Semiconductor, SOX, Nvidia, AMD, Samsung Locations: SOX

☆ These S&P 500 stocks are cheap and well-liked by analysts heading into June
▼ + stars: | 2024-05-30 | by ( Pia Singh | ) www.cnbc.com time to read: +8 min

The company has a low forward price-to-earnings ratio of roughly 8.6. Ulta Beauty also made the screen as a cheap stock that analysts are bullish on. The stock has a 14.5 forward price-to-earnings ratio and a consensus buy rating from analysts polled by FactSet. Online pickup orders inside an Ulta Beauty store in the Upper East Side neighborhood in New York, US, on Monday, Nov. 27, 2023. The stock has a 14.5 forward price-to-earnings ratio and a consensus buy rating from analysts polled by FactSet.

Persons: Jefferies, Trevor Williams, We're, FactSet, Stifel, Ulta, General Motors, Bing Guan Organizations: Dow Jones, Nasdaq, CNBC, Financial, Global Payments, Jefferies, JPMorgan, Cadillac, Chevrolet, General, FedEx, Halliburton, Gilead Sciences, CVS Health, Bloomberg, Getty, CVS, Epam, Motors, HAL Halliburton, Resorts, JBL, LKQ, Vegas Sands Corp, MGM MGM Resorts International, LSEG Financial, Inc Locations: Gilead, New York

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