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Tech stocks led the way higher for the market in the first half. Bank of America expects other names to join in on the rally during the second half. The first half of 2023 was the best for the S & P 500 since 2019, surging 15.9%. Only 25% of stocks outperformed the broader market index, according to Savita Subramanian, the bank's head of U.S. and quantitative strategy. The Invesco S & P 500 Equal Weight ETF (RSP) , which tracks a version of the S & P 500 in which stocks are weight equally rather than by market cap, is up just 5% year to date.

Persons: Dow Jones, Savita Subramanian, Subramanian, CNBC's Michael Bloom Organizations: Bank of America, Dow, RSP Locations: St

Goldman Sachs has a slightly more optimistic outlook on Netflix now. Analyst Eric Sheridan upgraded shares to neutral from sell. Sheridan noted that Netflix shares have popped 135% since Goldman added Netflix to its sell list in June 2022. NFLX YTD mountain NFLX in 2023 Netflix is scheduled to announce its most recent quarterly earnings report July 19. Goldman anticipates Netflix's subscriber performance to top Wall Street's estimates.

Persons: Goldman Sachs, Eric Sheridan, Sheridan, Goldman, — CNBC's Michael Bloom Organizations: Netflix Locations: Monday's

It's time to buy shares of Transocean , according to Citi. "Transocean is also favorably positioned geographically with the greatest exposure to the Golden Triangle region (Brazil, [Gulf of Mexico], West Africa) amongst peers," Gruber continued. Dayrates refer to the daily costs drilling project operators pay to drilling contractors to rent an oil rig. Transocean shares were up 2.7% Wednesday premarket. RIG YTD mountain RIG in 2023 —CNBC's Michael Bloom contributed to this report.

Persons: Scott Gruber, Gruber, Transocean, Dayrates, EBITDA, —, Michael Bloom Organizations: Citi Locations: Transocean, ., Brazil, Gulf of Mexico, West Africa, Sea, Norway

Piper Sandler says there's too much uncertainty around Coinbase , and investors need to stay away. A lack of regulatory clarity also drove the downgrade, according to analyst Patrick Moley. He lowered his price target to $60 from $65, which implies shares drawing back 24.9% from Monday's close. "However, rising crypto prices have not translated to increased trading volumes for COIN in recent quarters and the timing of a spot bitcoin ETF approval is anyone's guess," said Moley. The analyst expects Coinbase to post its lowest quarterly trading volumes and monthly transacting user totals in over two years for the second quarter.

Persons: Piper Sandler, there's, Patrick Moley, Moley, Coinbase, — CNBC's Michael Bloom Organizations: Securities and Exchange Commission, SEC Locations: Coinbase, Monday's

Jefferies says it's "all revved up" on car rental company Hertz . The firm initiated coverage on Hertz with a buy rating and a $24 price target, implying shares jumping 30% from Monday's close. We see structural benefits from a maintenance and pricing perspective related to [a] higher mix of EVs," Moore said. In this blue sky scenario, we see the potential for another $1bn+ in EBITDA opportunity at 20-30+% margins," the analyst added. Hertz shares were up 1.4% Wednesday before the bell.

Persons: Jefferies, it's, Stephanie Moore, Moore, Hertz, — CNBC's Michael Bloom Organizations: Hertz, EV Locations: Monday's

"It would be fair to characterize Charles Schwab as a financial services supermarket," Michael Wong, director of North American equity research and financial services at Morningstar, told CNBC. "Anything that you want, you can find in Charles Schwab's platform." Charles Schwab was among the firms that benefited from the growth of retail investing during the coronavirus pandemic, and it’s now facing the consequences of Federal Reserve’s aggressive interest rate hikes. Charles Schwab told CNBC it was unable to participate in this documentary. Watch the video above to learn more about how Charles Schwab battled the ever-evolving financial services market – from fees to fintech – and how the reward doesn’t come without the risk.

Persons: Charles Schwab, Michael Wong, Charles Schwab's, ” Alex Fitch, Edward Jones, Morgan Stanley, Charles Schwab’s, fintech – Organizations: Charles Schwab Corp, North, Morningstar, CNBC, Oakmark Equity, Income, Fidelity, Interactive, Stifel, JPMorgan, UBS, Robinhood Locations: United States

The reshoring trend is bringing manufacturing back into the U.S., putting the need for robots and automation at the forefront of the building boom. But with a tight labor market, companies are incorporating more automation and robotics into these brand new factories. Another robotics company Daryanani picked was Azenta . Sakraida said it could see upside as it gradually exposes itself more to the reshoring trend. It's working toward becoming a pure-play automation company," Sakraida said.

Persons: Jonathan Sakraida, reshoring, Carol Schleif, BMO's, Amit Daryanani, Daryanani, chipmakers, Morgan Stanley, industrials, Jonathan Coleman, Janus Henderson, Sakraida, Chris Snyder, Rockwell, — CNBC's Michael Bloom Organizations: UBS, Labor, BMO Family, HP, Janus Henderson Investors, Lincoln Electric, Rockwell Automation, ROK, Emerson Electric, Emerson Locations: U.S

It's time to buy Domino's Pizza, according to Stifel. O'Cull thinks that "over the next 12 months, the company will stabilize delivery sales and continue growing carryout sales to new record levels. The analyst pointed out that Domino's shares have "performed poorly since 2021 as delivery sales have declined." "Carry-out sales should continue to be a significant growth opportunity," O'Cull said. Domino's shares were up 2% Thursday during premarket trading.

Persons: Chris O'Cull, O'Cull, — CNBC's Michael Bloom

"Patience should be rewarded," Morgan Stanley said about T-Mobile shares. Analyst Simon Flannery maintained his overweight rating on shares, while increasing his price target by $1 to $178. The company offers investors low leverage, strong FCF generation, a recurring revenue model, network leadership, growing market share and reasonable valuations," Flannery wrote in a Thursday note. Flannery noted temporary headwinds from wholesale traffic off-loading by DISH and Verizon are temporary headwinds to T-Mobile shares. The company's ability to outperform the sector may become harder as it gains more market share, he added.

Persons: Morgan Stanley, Simon Flannery, Flannery, Michael Bloom Organizations: Mobile, Iridium, Verizon

Citi says it has "greater conviction" in Corning 's margin recovery potential. Analyst Asiya Merchant upgraded the glass maker's shares to buy from neutral. She also raised her price target to $40 from $36, implying shares rallying more than 20% from Wednesday's close. A 20% price increase in the company's display segment offerings will help offset incremental costs and foreign exchange headwinds, helping the company's margin expansion targets, the analyst said. Merchant noted near-term demand recovery in the optical market remains uncertain.

Persons: Asiya, Merchant, — CNBC's Michael Bloom Organizations: Citi, Asiya Merchant, Auto Locations: Corning, Wednesday's

Alcoholic beverage company Diageo will see limited upsides ahead, says Goldman Sachs. "With muted growth in the US, we see limited positive catalysts for Diageo and thus limited scope for earnings upgrades for the group," said Nicolaï. To be sure, he noted that if the company's U.S. market share gains accelerated, the company could strongly outperform the rest of the market. Goldman expects negative worsening volume trends and a weaker pricing outlook for U.S. spirits wholesalers over the next six months. The firm noted that "the secular premiumization trend is expected to be on hold after strong gains in 2020–2022."

Persons: Goldman Sachs, Oliver Nicolaï, Nicolaï, Goldman, — CNBC's Michael Bloom Organizations: Diageo Locations: U.S, FY23e

While Wall Street debates whether the S & P 500 is truly out of a bear market, these individual stocks are in bull market territory. CNBC Pro screened for the stocks in a true bull market that fall under the following criteria: S & P 500 or Russell 1000 member. Made a new 52-week high Tuesday. Shares have gained more than 10% in 2023 and may rally an additional 7.6%, according to its average price target. The stock's average price target suggests shares could rally 18.6% from Tuesday's close.

Persons: hasn't, Russell, — CNBC's Michael Bloom Organizations: CNBC Pro, Apple, Semiconductor, Applied Materials, Semiconductors, Materials, Walmart Locations: Tuesday's

Biogen — Shares of the biotech stock dipped 2.8% after Biogen revamped its board of directors. Oracle — Shares rose 0.2% to an all-time high on the back of a strong earnings report for the fiscal fourth quarter. Oil stocks — Oil shares rose broadly as WTI crude gained following Monday losses. Chinese internet stocks, metals and mining stocks — Shares of Chinese internet companies and metals and mining stocks jumped Tuesday after the People's Bank of China cut a key short-term policy rate in an effort to stimulate a post-Covid recovery. Metals and mining stocks were also boosted by the news, with shares of Freeport-McMoRan and Steel Dynamics rallying 5.3% and 6%, respectively.

Persons: Susan Langer, Biogen, Refinitiv, Goldman Sachs, Morgan Stanley, Transocean, JD.com, —, Samantha Subin, Sarah Min, Alexander Harring, Jesse Pound, С. Organizations: Biogen, Oracle, Revenue, Cruise Line Holdings, Bank of America, Royal, Urban Outfitters, Devon Energy, —, VanEck Oil Services, Halliburton, People's Bank of, CSI China, Metals, Steel Dynamics Locations: China, Gu'an, Royal Caribbean, Devon, Salt Lake City, People's Bank of China, Freeport, McMoRan

The Federal Reserve enacts monetary policies to stabilize prices and maximize employment in the U.S. economy. These dueling goals are known as the dual mandate. For example, if prices are too hot, the Fed may vote to raise interest rates to influence a decrease in borrowing. Other experts argue that the dual mandate remains key to keeping the U.S. economy safe and stable. Watch this video to see how the Fed tries to strike a near-impossible balance to promote both parts of the dual mandate.

Persons: Danielle DiMartino Booth, Thomas Hoenig, David Wessel Organizations: QI Research, CNBC, International Monetary Fund, Federal Reserve Bank of Kansas City, Hutchins, Brookings Institution Locations: U.S

The S & P 500 's recent rally has many investors convinced the bear market is drawing to a close, but Citi's Scott Chronert isn't convinced. Chronert, U.S. equity strategist at Citi, isn't buying the rally. He is maintaining his full-year S & P 500 target of 4,000 as he forecasts a pullback in the second half of 2023. According to CNBC Pro's Market Strategist Survey , Barclays, Morgan Stanley and UBS are forecasting the broad market index to fall below 4,000 at year-end. His base case for the S & P 500 forecasts a mid-year 2024 target of 4,400.

Persons: Citi's Scott Chronert isn't, Morgan Stanley, Chronert, — CNBC's Michael Bloom Organizations: Citi, CNBC Pro's, Survey, Barclays, UBS Locations: U.S

Wolfe Research thinks software company Oracle has a strong growth story thanks to the generative AI boom. The analyst said Oracle has created a significant second mover "architectural and cost advantage" around its second-generation Oracle Cloud Infrastructure — which its competitors are unable to match. Notably, Oracle's cloud software has spare GPU, or graphics processing unit, capacity. GPUs are necessary to process AI functions and have seen a surge in demand as more companies engage in AI. Growth has also been strong over a 12-month period, with shares gaining more than 63%.

Persons: Wolfe, Alex Zukin, Zukin, CY25, Oracle, Michael Bloom Organizations: Wolfe Research, Oracle, Oracle Cloud Infrastructure, Infrastructure Locations: GenAI

Amid "continued demand momentum" for the cruise industry, JPMorgan is bullish on Carnival . The bank upgraded the cruise liner's shares to overweight from neutral in a Monday note. Analyst Matthew Boss also raised his price target to $16 from $11, implying more than 22% upside from Friday's close. Boss underscored Weinstein's comments that Carnival is "no longer riding the coattails of a post-pause pent-up." "On the top-line, we came away confident in current trends with all three management teams," Boss said.

Persons: Matthew Boss, Boss, Josh Weinstein —, —, — CNBC's Michael Bloom Organizations: JPMorgan, CCL

Despite recent execution blunders that have sent SentinelOne shares plunging by more than 35% over the past 12 months, Morgan Stanley thinks the market is now mispricing the cybersecurity company. Analyst Hamza Fodderwala upgraded shares to overweight from equal weight. The bank said SentinelOne has inherent value as a "long-term share gainer" with the potential for meaningful margin upside. The company's management execution has significantly weighed upon its material topline slowdown, according to Morgan Stanley. That said, Fodderwala thinks SentinelOne offers "a market-leading product and growing distribution channels" which could see more than 20% durable topline growth.

Persons: Morgan Stanley, Hamza Fodderwala, SentinelOne, Fodderwala, —, Michael Bloom

The bank hiked its price target to $154 from $139, which implies 24.7% upside from where shares closed on Friday. "We were encouraged by CEO commentary that retail margins could improve beyond pre-pandemic levels (4-5% in US)," wrote analyst Justin Post. "In 1Q, Amazon US retail margins were up 340bps y/y, one of the best quarters in the company's history for y/y margin improvement," Post added. Post thinks that, based on margin improvement year-to-date, metrics showing strong leverage and management's commentary, Amazon's 2024 U.S. retail margins could reach a range of 4% to 5%. The analyst noted that a 22% year-over-year decline in U.S. retail gasoline prices should aid retail margin improvement.

Persons: there's, Justin Post, Andy Jassy's, Amazon's, — CNBC's Michael Bloom Organizations: Bank of America, Amazon, Shipping

In the last few years, however, this outlook has changed to "Tesla, BYD , and everyone else," according to Evercore. Chinese EV-manufacturer BYD sold more NEVs, or new energy vehicles, in 2022 than Tesla. Evercore noted that BYD's sales guidance for China in 2023 could potentially exceed the total EV sales in the U.S. and EU combined from 2022. "In many respects, such as battery and commercial vehicle platforms, BYD is already leading TSLA & others. Correction: Chinese EV-manufacturer BYD sold more NEVs, or new energy vehicles, in 2022 than Tesla.

Persons: Tesla, BYD, Evercore, Chris McNally, Warren Buffett, Charlie Munger's Berkshire Hathaway, Munger, McNally, — CNBC's Michael Bloom Organizations: EV, EU Locations: China, U.S, BYD, Berkshire, Omaha, Europe, EU, Thailand

ET, the yield on the 10-year Treasury was up by more than 4 basis points to 3.755%. The 2-year Treasury yield was trading more than 4 basis points higher at 4.566%. U.S. Treasury yields rose on Friday as investors looked ahead to the Federal Reserve monetary policy meeting next week, where officials will announce a fresh interest rate decision. Investors weighed what could be next for interest rates ahead of the Fed's next meeting on June 13 and 14. Further data points are expected before the Fed makes its decision, including May's consumer inflation report on Tuesday.

Organizations: Treasury, U.S, Federal Reserve, Labor Department, Fed

Solar investment could reach a turning point in 2023, and some stocks are well-positioned to benefit from the boom. In the U.S., the Inflation Reduction Act is expected to lead to $600 billion in new investment in solar technology, according to the Solar Energy Industries Association. More than 62% of analysts are bullish on the home solar energy company. ReNew Energy's average price target suggests shares rallying 47% in the coming months. The residential solar energy provider could see shares surge almost 90%, according to its average price target.

Persons: Michael Grubb, Grubb, Morgan Stanley Organizations: International Energy Agency, University College London, Bank, Development, Solar Energy Industries Association, CNBC Pro, Nasdaq, York Stock Exchange, Energy, Energy Global, Sunnova Energy Locations: U.S, India

Higher rates and overhangs from this year's banking crisis will drastically slow economic growth for the biggest global economies, the World Bank said Tuesday. U.S. GDP growth is expected to decelerate in 2024 to 0.8% as high interest rates further weigh on growth. The bank estimates overall global growth will decelerate to 2.1% in 2023, down from 3.1% in 2022. However, World Bank chief economist Indermit Gill said excluding China, growth in developing economies would be less than 3%. This marks "one of the weakest growth rates in the last five decades," Gill told reporters Tuesday.

Persons: Indermit Gill, Gill Organizations: World Bank Locations: Japan, U.S, China

The S & P 500 is up 1.8% week to date, on pace for a third consecutive week in the green. Cruise companies Royal Caribbean and Norwegian Cruise Line also had a strong week, gaining 7.8% and 9.3%, respectively. The consensus price target for shares implies just 7.2% additional upside, per FactSet data. Another cruise line on the list is Carnival , which saw shares rise 6.7% week to date. Dish could soar an additional 124.1% based off the average price target on shares.

Organizations: Dow Jones Industrial, Nasdaq, Match, Cruise, Royal, Royal Caribbean, Dish, Bloomberg News, Enphase Energy, Intel, Netflix, Digital Realty Trust Locations: Royal Caribbean

There's a burgeoning bull case for Saudi Arabia stocks. The iShares MSCI Saudi Arabia ETF (KSA) is up more than 8% year to date and almost 20% over a three-year period. The MSCI Saudi Arabia Index is composed of almost 45% in financials, followed by 22.1% in materials, mostly consisting of petrochemicals groups. More foreign investment The kingdom's Vision 2030 economic blueprint aims to raise foreign direct investment contributions to 5.7% by 2030 from 0.7% currently . Another fund that does this is the Franklin FTSE Saudi Arabia ETF (FLSA) .

Persons: Morgan Stanley, Carlos Asilis, Ramzi Sidani, — it's, they've, It's, Andrew Miller, Miller, Glovista's, HSBC's Sidani, Mondrian, — CNBC's Michael Bloom Organizations: Glovista Investments, JPMorgan —, HSBC's Global Research, Saudi, HSBC's Frontier Equity, United Arab Emirates, Mondrian Investment Partners, Franklin FTSE, Franklin FTSE Saudi Arabia, Aramco, Al, Al Rajhi Bank Locations: Saudi Arabia, Saudi, Russia, Ukraine, East, Korea, Australia, Chile, Poland, financials, Qatar, Franklin FTSE Saudi, Al Rajhi

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