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☆ Why hasn't U.S. poverty improved in 50 years? Pulitzer-prize winning author Matthew Desmond has an answer
▼ + stars: | 2023-03-23 | by ( Annie Nova | ) www.cnbc.com time to read: +4 min

In his new book, "Poverty, by America," sociologist Matthew Desmond proposes a reason for that stagnation: We benefit from it. His last book, "Evicted: Poverty and Profit in the American City," won the 2017 Pulitzer Prize for general nonfiction. I think many of us can go about our daily lives only confronting poverty from the car window or in the news. Zoom In Icon Arrows pointing outwardsAN: So you think there should be fewer tax breaks like the home mortgage interest deduction and more policies to help poor Americans? Matthew Desmond sociologist and authorAN: Thinking that poverty in the U.S. is avoidable makes its existence feel so much worse.

☆ Stocks making the biggest moves premarket: Rivian, Kohl's, Novavax and more
▼ + stars: | 2023-03-01 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Revenue for the quarter came in at $663 million, falling well below analysts' estimates of $742 million, according to Refinitiv. Sarepta Therapeutics — The biotech stock soared by 17% after Morgan Stanley upgraded Sarepta shares to overweight from equal weight. Kohl's reported a loss of $2.49 per share on $5.78 billion of revenue. Analysts surveyed by Refinitiv had expected positive earnings of 98 cents per share on $5.99 billion of revenue. Monster reported $1.51 billion in revenue, falling short of analysts' expectations of $1.6 billion.

☆ Morgan Stanley upgrades Sarepta Therapeutics, says biotech stock can rally more than 50%
▼ + stars: | 2023-03-01 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Morgan Stanley thinks that one of Sarepta Therapeutics ' drugs will receive accelerated approval from the Food and Drug Administration — creating a promising investing opportunity. Analyst Matthew Harrison upgraded Sarepta shares to overweight from equal weight, saying that the path for SRP-9001, an investigational gene therapy for Duchenne muscular dystrophy (DMD), now appears "de-risked." Morgan Stanley said that with the accelerated launch of SRP-9001, Sarepta has potential for over $5 billion in peak sales. To be sure, Harrison said potential risks to a downside include updates to the DMD gene therapy program, as well as manufacturing and regulatory risks. Data from competitors could also negatively impact Sarepta's position in the DMD market, the analyst noted.

☆ Nvidia results show its growing lead in AI chip race
▼ + stars: | 2023-02-23 | by ( Chavi Mehta | ) www.reuters.com time to read: +4 min

[1/2] Jensen Huang, CEO of Nvidia, shows the Drive Pegasus robotaxi AI computer at his keynote address at CES in Las Vegas, Nevada, U.S. January 7, 2018. AI has emerged as a bright spot for investments in the tech industry, whose slowing growth has led to widespread layoffs and a cutback on experimental bets. SPECIALIZED CHIPSGraphics processing units are designed to handle the specific kind of math involved in AI computing very efficiently, while generic central processing units (CPUs) from Intel can handle a broader range of computing tasks with less efficiency. Advanced Micro Devices (AMD.O), whose shares also rose after Nvidia earnings on Wednesday, is the second-biggest player in the GPU industry, with a market share of roughly 20%. Nvidia's strength in the AI industry has also attracted the attention of venture capitalists and startups, which are investing billions of dollars and promising improvements such as lower electricity consumption.

☆ Dillard's downgraded at JPMorgan, citing disappointing fourth-quarter results
▼ + stars: | 2023-02-22 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Investors should sell Dillard's after the department store chain's disappointing quarterly results, JPMorgan said. Analyst Matthew Boss downgraded the Arkansas-based retailer to underweight from neutral, saying there's trouble ahead for the retailer after its fourth-quarter results missed JPMorgan's expectations. Dillard's shares outperformed the past several years. In 2022, the stock advanced more than 30%, far outpacing a 19% decline in the S & P 500. The analyst's forward model shows a 21% earnings per share decline in 2023, and a 9% sequential decline in 2024.

☆ Huge winter storm churns across northern U.S., threatening record snowfall
▼ + stars: | 2023-02-21 | by ( Brendan O'Brien | ) www.reuters.com time to read: +5 min

CHICAGO, Feb 21 (Reuters) - A massive winter storm spreading across the U.S. West into the Northern Plains and Midwest on Tuesday could produce blizzards, brutal cold, and record snowfall, making road travel treacherous and disrupting air travel. The National Weather Service issued winter storm, blizzard and high-wind advisories for a broad swath of the western and north-central United States. Some spots in the South may have temperatures that are over 100 degrees Fahrenheit warmer than some places in the Northern Plains, the forecast showed. While the U.S. East has experienced a relatively mild winter, the Northern Plains has had an extreme winter in terms of snowfall and temperatures, NWS meteorologist Matthew Bunkers in South Dakota said. Although the snow storm could wreak havoc on daily life, it was welcomed by skiers.

☆ Deutsche Bank just raised Wall Street's highest interest rate forecast, saying the Fed's inflation fight is stalling out. Here are 3 reasons why.
▼ + stars: | 2023-02-16 | by ( Marley Jay | ) www.businessinsider.com time to read: +5 min

Michael Luzzetti of Deutsche Bank now thinks US interest rates will peak at 5.6% later this year. Luzzetti had the highest rates forecast on Wall Street, and just raised his projection further. He says new data shows that the Fed's huge rate hikes haven't done much to tame inflation so far. The Fed raised interest rates rapidly in 2022, using unusually large rate hikes for much of the year before tapering off to more typical 25-basis point increases. (3) Hanging looseThe Fed is aiming to reduce economic activity by tightening financial conditions, and it's trying to do that with higher interest rates and by letting financial conditions get tighter.

☆ Top ranked JPMorgan retail analyst Matt Boss: The pressure is on the middle-income consumer
▼ + stars: | 2023-02-15 | 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 EmailTop ranked JPMorgan retail analyst Matt Boss: The pressure is on the middle-income consumerJPMorgan retail analyst Matthew Boss joins 'Closing Bell: Overtime' to discuss this morning's retail numbers and the resiliency of the American consumer.

☆ This little-known digital infrastructure stock can surge more than 25%, Deutsche Bank says
▼ + stars: | 2023-02-15 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

There's a big buying opportunity in DigitalBridge , an under-the-radar digital infrastructure company, according to Deutsche Bank. Analyst Matthew Niknam initiated the stock with a buy rating and a price target of $18 per share, implying upside of 26.3% from Tuesday's close. Niknam said the company's high-growth model and sector resilience make it a promising buy even ahead of a potential economic downturn. "DigitalBridge's high-growth, and increasingly asset-light business model represent a unique approach to investing in digital infrastructure," the analyst wrote in a Tuesday note. "Additionally, given the transition from a legacy REIT structure towards more of an alternative asset manager, the shares have lacked a true "home", likely explaining the discount vs. its more seasoned (and larger) alternative asset manager peers."

☆ Markets are kicking off a make-or-break stretch with inflation, jobs, and more Fed policy looming
▼ + stars: | 2023-02-14 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Fed Chairman Jerome Powell warned — once again — last week that rates may eventually end up higher than markets anticipate as the fight against inflation remains far from over. Now, ahead of the CPI report, let's check in with the outlook for stocks. To Bernstein strategist Matthew Palazzolo, today's inflation reading will kick off a momentous five-week stretch for equities. The jobs report on March 3, the next inflation report on March 14, and the Fed meeting on March 22 will shape the rest of the year for stocks, he explained to my colleague George Glover. Your best bet for where the stock market's going this year can be found in the two-year Treasury yield, according to Mohamed El-Erian.

☆ U.S. gas producers skimped on price hedges and now face a reckoning
▼ + stars: | 2023-02-14 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +5 min

HOUSTON, Feb 14 (Reuters) - A rout in natural gas prices will hurt first-quarter earnings and cash flows at gas producers as hedges - the industry's version of price insurance - were inadequate to offset the expected losses, analysts and industry experts said. About 36% of 2023 gas production was hedged at the end of September, according to consultancy Energy Aspects, which tracked 40 publicly traded gas producers. EQT Corp (EQT.N), the top U.S. producer of natural gas, last month said it expects a $4.6 billion loss on derivatives for 2022, and net cash settlements of $5.9 billion. These transactions have a producer buy an agreement to sell natural gas at one price, called a put, while also selling a put at a lower price in hopes of pocketing the premium from its buyer. Were gas prices to average $2.36 per mmcf, the company would pay out 14 cents per mmcf, reducing the gains from the hedge.

☆ Are the 'Avatar' movies animated? Here's why the Oscars don't think so.
▼ + stars: | 2023-01-31 | by ( Travis Clark | ) www.businessinsider.com time to read: +3 min

A viral tweet over the weekend started a debate around the "Avatar" movies and animation. The tweet asserts that "Avatar: The Way of Water" should be considered an animated film at the Oscars. And, last week, it was nominated for best visual effects at this year's Oscars — an award that the first "Avatar" movie won 13 years ago. "Avatar is an animated film and should've been put in the animated film category," tweeted artist Matthew Robert Davies, who's worked on TV shows "Roy" and "The Adventures of Paddington." It would be hard to argue that the "Avatar" movies could not be mistaken for live action.

☆ Analysts call Intel’s disappointing quarter an ‘historic collapse’ and 'much worse than feared'
▼ + stars: | 2023-01-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

JPMorgan cuts price target to $28 from $32, reiterates underweight rating. Mizuho cuts price target to $29 from $32, reiterates neutral rating. Wells Fargo cuts price target to $26 from $32, reiterates equal weight rating. Barclays cuts price target to $27 from $30, keeps equal weight rating. Cowen cuts price target to $26 from $31, keeps market perform rating.

☆ 16 breakout stocks are forming the bullish golden cross chart pattern
▼ + stars: | 2023-01-23 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

The names are forming a "golden cross" pattern, which is when the 50-day moving average crosses above the 200-day moving average. Its 50-day moving average is 6% above its 200-day moving average. Another solar company, First Solar , also made the list, with its 50-day moving average 18% higher than its 200-day moving average. Its 50-day moving average is 10% above its 200-day moving average. The company's 50-day moving average is 9% above its 200-day moving average.

☆ Medical device stocks tend to beat the market, and analysts expect these names to see big gains
▼ + stars: | 2023-01-23 | by ( Bertha Coombs | ) www.cnbc.com time to read: +4 min

Medical device makers, like many manufacturers, have faced challenges over the last year from inflationary supply chain costs, staffing shortages and the strong dollar impacting sales overseas. However, since 2007 the device sector ETF has averaged a gain of 14% per year, 6 percentage points better than the broader market index over the same period. More than 60% of analysts rate the shares a buy, with a mean price target implying 34% upside. Nearly 90% of analysts rate the stock a buy, with mean price target of $53, implying more than 30% upside. BTIG analysts Marie Thibault and Ryan Zimmerman think that M & A could be another catalyst for the medical device sector in 2023, with robotic surgery players likely to be of particular interest.

☆ Morgan Stanley downgrades Roblox, says it's time to sell the video game stock
▼ + stars: | 2023-01-19 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

It's time to get out of Roblox following its strong December report, according to Morgan Stanley. Analyst Matthew Cost downgraded shares of the gaming company to underweight from equal weight, saying upside is limited from here after the stock's recent outperformance. Roblox shares may be surging to start 2023, but they took a beating last year, closing down about 72% in 2022. The analyst expects slower growth to start in the second half of 2023. While Roblox expects that immersive advertising will be a key growth driver in 2023, the analyst expects the rollout will be too slow to support the stock.

☆ Who are the two people who helped bail out Sam Bankman-Fried? Insider and other media organizations are asking a judge to unveil the secret
▼ + stars: | 2023-01-12 | by ( Jacob Shamsian | Sindhu Sundar | ) www.businessinsider.com time to read: +5 min

News organizations, including Insider, are asking a court to unveil Sam Bankman-Fried's bail backers. Bankman-Fried's lawyers told the court earlier this month that the backers of his release should stay secret for their "privacy and safety." At Bankman-Fried's January 3 arraignment hearing, Kaplan had granted a request from Bankman-Fried's lawyers to keep the names and addresses of those two people under seal. Christian Everdell, one of Bankman-Fried's lawyers, also represented Maxwell in her criminal case. But lawyers representing the media organizations said the cases were significantly different.

☆ Who are the 2 people who helped bail out Sam Bankman-Fried? Insider and other news organizations asked a judge to unseal their names.
▼ + stars: | 2023-01-12 | by ( Jacob Shamsian | Sindhu Sundar | ) www.businessinsider.com time to read: +5 min

News organizations, including Insider, are asking a court to unveil Sam Bankman-Fried's bail backers. Bankman-Fried's lawyers told the court earlier this month that the backers of his release should stay secret for their "privacy and safety." The two other backers sponsored "separate bonds in lesser amounts," according to a court filing earlier this month by Bankman-Fried's lawyers. At Bankman-Fried's January 3 arraignment hearing, Kaplan had granted a request from Bankman-Fried's lawyers to keep the names and addresses of those two people under seal. Christian Everdell, one of Bankman-Fried's lawyers, also represented Maxwell in her criminal case.

☆ Intel splits graphic chips unit into two
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +1 min

Dec 21 (Reuters) - Intel Corp (INTC.O) is splitting its graphic chips unit into two, the company said on Wednesday, as it realigns the business to better compete with Nvidia Corp (NVDA.O) and Advanced Micro Devices (AMD.O). The consumer graphics unit will be combined with Intel's client computing group, which makes chips for personal computers, while accelerated computing teams will join its data center and artificial intelligence (AI) business, the company said. The move comes as Intel doubles down on accelerated computing, a growing segment dominated by Nvidia as AI use surges. Raja Koduri, who led the graphic chips unit, will return to his role as chief architect and oversee the company's long-term technology and chip design strategy. Koduri, who has led graphics technology ventures at iPhone maker Apple (AAPL.O) and AMD, joined Intel in 2017.

☆ Barclays upgrades Lennar, says homebuilder can rally more than 25% as housing market troughs in 2023
▼ + stars: | 2022-12-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Homebuilding stock Lennar is one of the best-positioned names to capitalize on a housing market trough next year, according to Barclays. Analyst Matthew Bouley upgraded the homebuilder to overweight from equal weight, saying in a note to clients Wednesday that Lennar's size and past history of solid execution should help it navigate this environment. Barclays' upped its price target on Lennar to $116 from $85 a share, suggesting the stock's poised to rally 28% from Tuesday's close. Across the board, Bouley views many housing stocks as better situated for a solid 2023 and poised to benefit from the possibility of interest rates peaking. Bouley also upgraded shares of PulteGroup to an overweight rating, saying that the stock offers a "best-in-class" return on equity that isn't reflected in its valuation.

☆ Morgan Stanley's top biotech picks for 2023. One 'transformative' stock promises 50% upside
▼ + stars: | 2022-12-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Morgan Stanley views biotechnology as an area of the market that abounds with opportunity heading into 2023. It's been a painful year for the investors — and once high-flying growth stocks — as the Federal Reserve's rate hikes lead to fears of a slowing economy. Morgan Stanley also expects mergers and acquisitions activity to pick up in 2023 given the piles of cash some companies have on hand. Here are some of the stocks Morgan Stanley recommends heading into the new year: Harrison named BeiGene among the bank's biotech stock picks heading into the new year. "We expect 2023 to finally be the year that commercial upside can drive BMRN higher," Harrison wrote.

☆ JPMorgan downgrades Victoria's Secret, cites trouble for lingerie company's core business
▼ + stars: | 2022-12-01 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

It's time to move to the sidelines on Victoria's Secret after its latest earnings results, according to JPMorgan. Analyst Matthew Boss downgraded the stock to neutral from overweight, citing continued pressure ahead for the lingerie company's core business given a tough macro backdrop. Shares of Victoria's Secret declined more than 2% in Thursday premarket trading after the company reported a mixed third quarter. The lingerie company reported earnings of 29 cents per share on revenue of $1.32 billion. Shares of Victoria's Secret are off about 17% in 2022.

☆ NFL roundup: Joe Burrow helps Bengals get revenge vs. Steelers
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +10 min

Both of Herbert's touchdown passes were caught by Joshua Palmer, who finished with eight catches for 106 yards. Quarterback Marcus Mariota paced Atlanta's offense with 131 passing yards, a passing touchdown and a rushing touchdown. Hurts finished with 190 passing yards and 86 passing yards. Saints 27, Rams 20Andy Dalton threw three touchdown passes as host New Orleans defeated Los Angeles, which lost Matthew Stafford to a possible concussion. Kirk Cousins was ineffective in the passing game, totaling 105 yards through the air while completing 12 of 23 passes.

☆ In Burnley, Britain's cost of living crisis hits home
▼ + stars: | 2022-11-15 | by ( Natalie Thomas | ) www.reuters.com time to read: +6 min

[1/6] Keelie Topping shops in the parish of the Church of St Matthew the Apostle in Burnley, England, Britain November 10, 2022. While millions in Britain face a difficult winter, the Centre for Cities think tank says the nearly 95,000 residents of Burnley are most exposed to the shockwaves ripping through the economy. Consumers in Burnley saw prices rise 11.7% in the year to September, the think tank estimates, compared with 10.1% nationally, and 9.1% in London. Britain's exit from the European Union has so far failed to yield economic dividends for places like Burnley. Adrian Pabst, at the National Institute of Economic and Social Research think tank, said the cost of supporting the poorest households did not have to be big.

Nov 9 (Reuters) - North American oil and gas pipeline company TC Energy Corp (TRP.TO) said on Wednesday it was looking to sell C$5 billion ($3.7 billion) worth of assets to repay debt and fund new projects, and reported an 8% rise in quarterly profit. Canada, the world's fourth-largest crude producer, has been seeking ways to boost pipeline utilization following Russia's invasion of Ukraine, which has strained global oil and natural gas supplies. TC Energy Chief Executive Francois Poirier said the company planned to raise more than C$5 billion through 2023 from selling assets and minority interests. He said the company also intended to approve C$5 billion worth of projects annually throughout the decade. Earnings from TC's Canadian natural gas pipelines rose to C$409 million for the July-September quarter, from C$343 million a year earlier.

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