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☆ Michael Bennet becomes first Democratic senator to publicly warn Biden can’t win 2024 election
▼ + stars: | 2024-07-09 | by ( Piper Hudspethblackburn | Piper Hudspeth Blackburn | ) edition.cnn.com time to read: +3 min

CNN —Sen. Michael Bennet on Tuesday became the first Democratic senator to publicly say he doesn’t believe President Joe Biden is capable of winning reelection after his disastrous debate performance last month. Bennet said his voters have “deep concerns” about whether Biden can win and urged the White House to not ignore worries about his viability. Bennet’s comments confirm earlier CNN reporting that Bennet told his colleagues during a private meeting between Senate Democrats Tuesday that he does not think Biden can win. Sherrod Brown and Jon Tester also said Biden would not win during the meeting in the Capitol, according to a source familiar. Another source confirmed that Senate Majority Leader Chuck Schumer told senators at the meeting they should speak with the White House directly.

Persons: CNN — Sen, Michael Bennet, Joe Biden, “ Donald Trump, ”, CNN’s Kaitlan Collins, It’s, “, Bennet, Biden, Donald Trump, Kevin Munoz, Sherrod Brown, Jon Tester, Chuck Schumer, Delaware Sen, Chris Coons, ” CNN’s Dana Bash, Ted Barrett Organizations: CNN, Democratic, Colorado Democrat, Senate, Democrats, Delaware Locations: what’s, Sens

☆ Insurance stocks with the most at risk from Beryl and the rest of this likely active hurricane season
▼ + stars: | 2024-07-08 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The insurance industry is bracing for a likely tough hurricane season as Beryl struck the coast of Texas early Monday. Wall Street analysts identified several insurance stocks with the most at risk from future dangerous storms. The intensity and timing of Beryl served as an ominous sign that this hurricane season could be an active one, analysts said. "Hurricane Beryl was the earliest CAT-5 Hurricane on record over the past 100 years, confirming that 2024 Hurricane Season will be an active one, in our view," Morgan Stanley analyst Bob Jian Huang said in a note to clients. Stocks with the most exposure Insurance stocks typically fall as a hurricane makes landfall and often rebound after the size of the insured losses become known.

Persons: Beryl, Morgan Stanley, Bob Jian Huang, Paul Newsome, Piper, Newsome, Chubb Organizations: Wall Street, Allstate, Progressive, AIG, Travelers, Heritage, Universal Insurance Locations: Texas, Caribbean, Mexico, Florida

☆ Investors want proof AI will aid drug discovery. Evidence may come in the second half
▼ + stars: | 2024-07-06 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +10 min

Analysts who have been following companies on the cutting edge of using generative AI for drug discovery say it is still very early days. But these endorsements haven't lifted Recursion shares out of a slump. RXRX 1Y mountain Recursion shares over the past year. The drug company will be a beta user of Recursion's LOWE (Large Language Model-Orchestrated Workflow Engine) and the pair are also partnering on oncology research. SDGR 1Y mountain Schrodinger shares over the past year.

Persons: Scott Schoenhaus, Chris Gibson, Jensen Huang, Leerink, Mani Foroohar, Foroohar, Recursion's, KeyBanc's Schoenhaus, Needham, Gil Blum, it's, Recursion's LOWE, Blum, Eli Lilly, AbCellera, KeyBanc's, Schoenhaus, FactSet, Allison Bratzel, Piper Sandler, Goldman Sachs, Salveen Richter, Peter Lawson, Lawson, Japan's Takeda, Schrodinger, Leerink's Foroohar Organizations: Analysts, Capital, Nvidia, ARK Investment Management, REC, CCM, Union, Bayer, Therapeutics, Dynamo, RLY, Barclays, Japan's Locations: U.S, biopharma, Biohive

☆ 3 ways artificial intelligence could drive Microsoft stock past its record highs in 2024
▼ + stars: | 2024-07-05 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Investors have been drawn to Microsoft for its early leadership in the fast-growing artificial intelligence space. Year-to-date Microsoft stock is up roughly 24%, compared to the S & P 500's 15% advance. Excitement for Microsoft as an AI play, along with demand for its cloud computing business, show no signs of slowing. Copilot subscriptions Finally, the company can generate a nice recurring revenue stream from Microsoft 365′s Copilot AI add-on. Microsoft CEO Satya Nadella speaks during the Microsoft Build conference at Microsoft headquarters in Redmond, Washington, on May 21, 2024.

Persons: Jim Cramer, Copilot, Satya Nadella, Piper Sandler, Jim Cramer's, Jim, Jason Redmond Organizations: Microsoft, Management, Revenue, . Enterprise, Wall Street, CNBC, AFP, Getty Locations: OpenAI, Microsoft's, Redmond , Washington

☆ Influencer talent firm Night is shutting down its studio that aimed to turn creators into TV and movie stars
▼ + stars: | 2024-07-03 | by ( Amanda Perelli | Sydney Bradley | ) www.businessinsider.com time to read: +3 min

Talent management firm Night is shutting down its in-house production arm, Night Studios. The company has parted ways with Alex Piper, who served as the head of Night Studios, and Jared Jacobs, who was the vice president of development. Related storiesPiper joined Night Studios in 2022 after serving as YouTube's head of unscripted originals, and Jacobs came on in 2023 from Mark Wahlberg's Unrealistic Ideas. AdvertisementPiper posted to LinkedIn on Wednesday confirming his exit from the company, writing that Night Studios "got shut down." "Most top creators no longer view premium distribution as the ultimate goal," Duchscher wrote in his statement.

Persons: Alex Piper, Jared Jacobs, Reed Duchscher, Piper, Jacobs, Mark Wahlberg's, Duchscher, Jessica, Kai, YouTuber Ryan Trahan, Jimmy Donaldson, Donaldson Organizations: Service, Talent, Studios, Night Studios, Netflix, Amazon

☆ Here are Tuesday's biggest analyst calls: Amazon, Nvidia, Tesla, Uber, Disney, PayPal, Spotify, Chevron, Netflix & more
▼ + stars: | 2024-07-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

"We initiate coverage of Waystar ( WAY) with a Buy rating and 12-month price target of $32." Bank of America reiterates Nvidia as buy Bank of America said Nvidia was the "most-owned" stock in semis among fund managers. Bank of America reiterates Disney as buy Bank of America said it's sticking with its buy rating on the stock. " Argus reiterates Netflix as buy Argus said it's sticking with its buy rating on the stock. "We are maintaining our BUY rating on Focus List selection Netflix I nc.

Persons: Mizuho, Goldman Sachs, Goldman, it's, Nvidia, NVDA, AVGO, Piper Sandler downgrades CrowdStrike, Piper, Raymond James, Piper Sandler, Jefferies, RAPP, Stifel, MAUs, Wells, Roth, WULF, VIK, Horton, Guggenheim, Tesla, Kitty Organizations: Mizuho, Amazon, " Bank of America, Nvidia, Bank of America, AMD, Comerica, UBS, TEAM, Rapport Therapeutics, Life360 Inc, Spotify, Hess Corp, IT Services, Barclays, Viking Holdings, Citi, Disney, DIS, NBA, Susquehanna, PayPal, of America, Deutsche Bank, Uber, Deutsche, Netflix, Argus Locations: CrowdStrike, Chevron

"We see softness in data — permits, starts, sales and prices all recently below expectations — potentially continuing in 2H," the analyst wrote. The bank initiated the health care tech stock with an overweight rating and a December 2025 price target of $24. "Waystar is a vertical, cloud-based software company focused on automating, digitizing, and enhancing revenue cycle management functions," wrote analyst Anne Samuel. Analyst Daniel Politzer reiterated his overweight rating on the casino and resort stock but lowered his price target to $58 from $60. The analyst wrote that he sees "the current valuation as an attractive entry point into what we view as one of the most durable companies in our coverage."

Persons: Piper Sandler, Mizuho, Piper Sandler downgrades CrowdStrike Piper Sandler, Rob Owens, Owens, CrowdStrike, Lisa Kailai Han, downgrades Goldman, Jim Mitchell, Goldman Sachs, Mitchell, Goldman, — Jesse Pound, Brandt Montour, Montour, VIK, — Hakyung Kim, Anthony Pettinari, Pettinari, — Lisa Kailai Han, Guggenheim, Tesla, Ronald Jewsikow, Keith Gill, Gill, he's, Kitty, Musk, Jewsikow, Waystar, Anne Samuel, Samuels, Jessica Reif Ehrlich, Ehrlich, Wells, Daniel Politzer, Politzer, GGR, WYNN est's, —, Mizuho Mizuho, James Lee, Lee, Fred Imbert Organizations: CNBC, Seaport, of America, downgrades Goldman Sachs Seaport Research, Bank of America, Barclays, Viking Holdings, American Baby Boomers, Citi, Federal, Securities and Exchange Commission, JPMorgan, Nasdaq, Spotify, Spotify Technology, Las Vegas, Vegas, Macau GGR, Intelligence, Amazon Locations: Amazon, SIEM, Lennar, 2H, Chewy, Europe, China, Las, Las Vegas Sands, Macau, Bay Sands, Singapore, Atlassian, Monday's

☆ Biden and Netanyahu are expected to meet later this month in Washington, source says
▼ + stars: | 2024-07-02 | by ( Mj Lee | ) edition.cnn.com time to read: +3 min

CNN —President Joe Biden and Benjamin Netanyahu are expected to meet in Washington, DC, in several weeks when the Israeli prime minister visits to address Congress on July 24, a source familiar told CNN. US and Israeli officials are still in the process of nailing down logistical details for the Biden-Netanyahu meeting, which would likely take place at the White House, the source said. A White House official told CNN that Biden has known Netanyahu for decades, and that “they will likely see each other when the Prime Minister is here over the course of that week. But we have nothing to announce at this time.”CNN has also reached out to the prime minister’s office for comment. Last month, Biden said in an interview that Netanyahu may be dragging out the war in an attempt to cling to power and said it was “uncertain” whether Israel had committed war crimes.

Persons: Joe Biden, Benjamin Netanyahu, Netanyahu, Biden, “, ”, ” Biden, Israel, Antony Blinken “, Amos Hochstein, Netanyahu’s, CNN’s Jack Forrest, Christian Edwards, Tara John, Kevin Liptak, Natasha Bertrand, Arlette Saenz, Jennifer Hansler, Kylie Atwood, Melanie Zanona, Oren Liebermann, Piper Hudspeth Blackburn Organizations: CNN, Biden, White, ” CNN Locations: Washington , DC, Israel, Gaza, Tel Aviv, Washington

☆ Here are Monday's biggest analyst calls: Tesla, Nvidia, Verizon, Apple, McDonald's, Birkenstock, AT&T, Meta & more
▼ + stars: | 2024-07-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Morgan Stanley reiterates Nvidia as overweight Morgan Stanley raised its price target on the stock to $144 per share from $116. "We are initiating coverage of Gauzy with a Buy rating and $18 12-month price target." Wells Fargo reiterates McDonald's as overweight Wells said it's standing by its overweight rating on shares of McDonald's. "We initiate coverage on Amkor Technology (AMKR, $10B market cap) with an Overweight rating and Dec-25 price target of $48." Raymond James reiterates Meta as strong buy Raymond James raised its price target on Meta to $600 per share from $550.

Persons: Morgan Stanley, Goldman Sachs, Goldman, it's, BIRK, ramping, Stifel, Wells, Tesla, JMP, Academy's, Piper Sandler, Piper, TD Cowen, W.R, Berkley, Snowflake, Raymond James, Rivian, Meta Organizations: UBS, Apple, Verizon, AT, Gannett, JMP, Sports, JPMorgan, Amkor Technology, Deutsche Bank, Walmart, Deutsche, Exchange, ICE, RBC, NextEra Energy Partners, Fox Corp, EV, Meta Locations: China, Taiwan, Asia, TFX, McDonald's, Rivian

Five members of the same family who had been traveling for a baseball tournament were killed when their small plane crashed in upstate New York on Sunday afternoon, the authorities said. The plane, a single-engine Piper PA-46, crashed around 2 p.m. in a rural area in Delaware County, near Sidney, about 40 miles northeast of Binghamton, the Federal Aviation Administration said, killing all onboard. The plane wreckage was discovered Sunday night, the F.A.A. There were five people on the plane, state police said: Roger Beggs, 76; Laura VanEpps, 43; Ryan VanEpps, 42; James R. VanEpps, 12; and Harrison VanEpps, 10. The passengers were from Georgia and were in Cooperstown, N.Y., for a baseball tournament, state police said.

Persons: Roger Beggs, Laura VanEpps, Ryan VanEpps, James R, Harrison VanEpps Organizations: Federal Aviation Administration Locations: New York, Delaware County, Sidney, Binghamton, Georgia, Cooperstown, N.Y

☆ Gen Z workers vs. millennial bosses: 'Having high expectations and wanting work-life balance and an employer who cares isn't a bad thing'
▼ + stars: | 2024-06-30 | by ( Tess Martinelli | ) www.businessinsider.com time to read: +8 min

For example, some millennials who manage Gen Zers face the unique challenge of weighing their corporate conditioning against more progressive ideals. Courtesy of Maya PennSome people say that Gen Z's eclectic style is unprofessional, but 24-year-old Maya Penn said Gen Z is simply embracing authenticity. Another tool she's implemented is adopting a softer approach to giving feedback after she noticed her Gen Z employees were interpreting her initial approach as criticism. Despite the challenges of leading Gen Z, this manager said the younger generation has taught her to prioritize her personal life. "Some people complain that they're hard to work with, but having high expectations and wanting work-life balance and an employer who cares isn't a bad thing," Tooker told BI.

Persons: —, Zers, they've, Piper Hansen, Hansen, Zers who've, she's, Kim Schewitz, Gen Z, Zer, Schewitz, you'll, Gen, Maya Penn, Penn, It's, I've, Hannah Tooker, Mitchell Sauve Hannah Tooker, Tooker, They've, Z, Tess Martinelli, tmartinelli@businessinsider.com Organizations: Service, Business, YMCA, BI, Penn

☆ A notorious market bear who called the 2000 and 2008 crashes shares 3 charts revealing striking similarities between today's market and the most extreme bubbles — and warns of 50-70% downside for the
▼ + stars: | 2024-06-29 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

"In contrast, current valuation extremes imply potential downside risk for the S&P 500 on the order of 50-70% over the completion of this cycle." JPMorgan's Marko Kolanovic expects the S&P 500 to fall to 4,200, while more extreme forecasts include Jeremy Grantham's estimate in the low 3,000s. And as the stock market ground mostly higher, he persisted with his doomsday calls. He predicted in April 2007 that the S&P 500 could lose 40%, then it lost 55% in the subsequent collapse from 2007 to 2009. The S&P 500, by comparison, is up about 26% over the past year.

Persons: —, Jonathan Golub, Count John Hussman, Hussman, Hussman's, Morgan Stanley's Mike Wilson, Piper Sandler's Michael Kantrowitz, JPMorgan's Marko Kolanovic, Jeremy Grantham's Organizations: Service, UBS, Business, Hussman Investment Trust, New York Stock Exchange, Investor Intelligence

☆ Wall Street kicks off the second half of 2024 with key jobs report in the week ahead
▼ + stars: | 2024-06-28 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The S & P 500 and Nasdaq Composite are hovering around all-time highs, having rallied roughly 15% and 18%, respectively. The 30-stock Dow and S & P 500 each posted losses, down by 0.1%, each. In recent days, a number of Wall Street firms have hiked their year-end S & P 500 targets to catch up with this year's surprisingly strong rally. On a median basis, strategists expect the S & P 500 will end the year at 5,500, a CNBC Pro survey shows . June jobs report Markets will be closed Thursday for the Fourth of July holiday.

Persons: chipmaker, Craig Johnson, Piper Sandler, Goldman Sachs, Scott Chronert, CNBC's, Chronert, Piper Sandler's Johnson, Bill Merz, Merz, He's, Jamie Meyers, Laffer Tengler, he's, Meyers, Bank's Merz Organizations: Nasdaq, Dow Jones, Nvidia, Microsoft, Deutsche Bank Research, Equity, Dow, Wall Street, Citi, ISI, CNBC, U.S, Bank Wealth Management, PMI, Manufacturing, ADP, PMI Services, Services PMI, Constellation Locations: U.S

☆ Buy these cheap quality stocks for the third quarter, says Piper Sandler
▼ + stars: | 2024-06-28 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Investors should look for companies in the third quarter that are on solid ground, both in their fundamental business and their stock price, according to Piper Sandler. The firm's yardsticks for quality fundamentals include free cash flow yield and positive earnings revisions. Piper Sandler's macro select model includes some of the big tech companies that have outperformed in recent years, in part due to their combination of solid balance sheets and strong growth. Two other stocks on the list with momentum are Chipotle Mexican Grill and Wingstop , up roughly 37% and 66%, respectively, in 2024. The company said in its first-quarter report that cash was up and debt was down compared with the same period a year ago.

Persons: Piper Sandler, Michael Kantrowitz Organizations: Nvidia, Microsoft, Google, Netflix, AMC Networks, Academy Sports Locations: Mexican

☆ AI will need at least ten years to become a big money maker, says Piper Sandler’s Craig Johnson
▼ + stars: | 2024-06-28 | 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 EmailAI will need at least ten years to become a big money maker, says Piper Sandler’s Craig JohnsonCraig Johnson, Piper Sandler chief market technician, joins 'Squawk Box' to discuss the latest market trends, whether AI will transform the world sooner, and more.

Persons: Piper Sandler’s Craig Johnson Craig Johnson, Piper Sandler

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Nike, First Solar, Deere, Alphabet, Amazon, ASML & more
▼ + stars: | 2024-06-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Wells Fargo reiterates Nvidia as overweight Wells said it's sticking with its overweight rating on the stock. "We initiate coverage of net lease REIT Essential Properties (EPRT) with a Buy rating and $33.00 12-month price target. Citi reiterates Apple as buy Citi moved the tech giant up a spot to its number 2 top pick. Wells Fargo reiterates Amazon as buy Wells raised its price target on Amazon to $239 per share from $234. "We initiate coverage of Intuitive Machines, Inc. (LUNR) with a Buy rating and a 12-month price target of $8 per share."

Persons: Raymond James, Deere, it's, Morgan Stanley downgrades Nike, Morgan Stanley, Wells, Goldman Sachs, Goldman, Oppenheimer, Riley, Piper Sandler, Piper, managements, it's bullish, Rosenblatt, ASML Organizations: Deutsche Bank, Deutsche, Nvidia, Properties Realty Trust, Apple, Citi, Xerox, JPMorgan, Realty Trust, Inc, Travelers, Susquehanna, Nextracker, BMO, SAP Locations: Americas, China

☆ Piper Sandler's Scott Siefers on key takeaways from stress test results
▼ + stars: | 2024-06-27 | 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 EmailPiper Sandler's Scott Siefers on key takeaways from stress test resultsScott Siefers, Piper Sandler senior research analyst, joins 'Money Movers' to discuss his key takeaways from the annual stress test results.

Persons: Piper Sandler's Scott Siefers, Scott Siefers, Piper Sandler

☆ CNBC Daily Open: Amazon enters $2 trillion club
▼ + stars: | 2024-06-27 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The yield on the 10-year Treasury rose as investors parse comments from Fed officials and await key inflation data due Friday. $2,000,000,000,000Amazon's market capitalization surpassed $2 trillion for the first time on Wednesday, joining the ranks of tech giants like Apple and Microsoft. YouTube dominanceAlphabet's YouTube, the pioneer of user-generated content, continues to dominate media consumption, now accounting for nearly 10% of all TV viewership in the U.S.

Persons: Annie Palmer, Elliott Management, Sanjay Mehrotra, Rich Greenfield, Piper Organizations: CNBC, Dow Jones, Nasdaq, Nvidia, Apple, Microsoft, Southwest Airlines, Delta, Micron, YouTube, Nielsen, Netflix, Media, Disney, Warner Bros Locations: Shein, U.S

Although she did not publicly dissent to the per curium opinion, Justice Ketanji Brown Jackson was nevertheless highly critical of the court’s order avoiding a final decision in the abortion case. It was particularly wrong, Jackson said, because the court had for months allowed Idaho’s strict abortion law to remain in effect. “It is too little, too late for the Court to take a mulligan and just tell the lower courts to carry on as if none of this has happened,” Jackson wrote. The majority opts, instead, to dismiss these cases,” Jackson wrote. “But storm clouds loom ahead.”The liberal justice said she wanted the court to decide the case in full this term.

Persons: Ketanji Brown Jackson, Jackson, ” Jackson, ” Locations: Idaho, ldaho

☆ An S&P 500 10% correction is likely this summer, says Piper Sandler
▼ + stars: | 2024-06-26 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

"However, the longer these warning lights flash, the more painful the repair bill (market correction) will be," Johnson said. .SPX YTD mountain S & P 500 Stocks have surged this year largely due to the outperformance of artificial intelligence mega-cap technology companies such as Nvidia. The S & P 500 and Nasdaq Composite are higher this year by roughly 15% and 18%, respectively. Just last week, the S & P 500 breached 5,500 for the first time. Johnson anticipates the S & P 500 will end the year at 5,050, or 7% lowerthan where it closed Tuesday.

Persons: Piper Sandler, Craig Johnson, Johnson Organizations: Nvidia, Nasdaq Locations: Tuesday's

☆ Wall Street strategists see limited gains for the rest of year after big first half
▼ + stars: | 2024-06-26 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

There may not be much upside left this year in the S & P 500, at least according to the paid seers on Wall Street. The S & P 500 is up 15% so far in 2024, while the Nasdaq has added 18%. .SPX YTD mountain S & P 500 In fact, the S & P 500 is anticipated to stall even with a flurry of strategists recently upping their targets. Similarly, Evercore ISI's Julian Emanuel anticipates the S & P 500 could end the year at 6,000 , the highest forecast in CNBC's survey. By year end, Lakos-Bujas anticipates the S & P 500 will fall to 4,200, or a more than 20% plunge.

Persons: Goldman Sachs, David J, Kostin, Evercore ISI's Julian Emanuel, buybacks, Russell, Piper Sandler, Dubravko Lakos, Bujas Organizations: Nasdaq, CNBC PRO, Deutsche Bank, Tech, Microsoft, Dow Jones, Nvidia

☆ Stocks making the biggest moves midday: Rivian Automotive, FedEx, Whirlpool and more
▼ + stars: | 2024-06-26 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

FedEx — Shares of the company moved more than 14% higher after topping Wall Street's fiscal fourth-quarter expectations . The shipping giant earned $5.41 per share, after adjustments, on $22.11 billion in revenue. Analysts polled by LSEG were expecting earnings of $5.35 per share and revenue of $22.07 billion. Aptiv — Shares of the automotive technology company plunged 10% following Piper Sandler's downgrade of the stock to underweight from neutral . Paychex posted adjusted earnings of $1.12 per share, which is above the $1.10 earnings per share that analysts polled by LSEG were expecting.

Persons: LSEG, Bosch, Piper, Mills, Paychex, Grindr, Campbell, —, Alex Harring, Lisa Kailai Han, Scott Schnipper, Sarah Min, Michelle Fox Organizations: Volkswagen Group, FedEx —, Whirlpool —, Reuters, Rivian, MNC Capital Partners, JPMorgan, Campbell

☆ Here are Wednesday's biggest analyst calls: Nvidia, Amazon, Alphabet, FedEx, Tesla, Caterpillar, Shopify, Disney & more
▼ + stars: | 2024-06-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are the biggest calls on Wall Street on Wednesday: Stifel initiates Tesla at buy Stifel said it's bullish on Tesla for the long term. JPMorgan upgrades FedEx to overweight from neutral JPMorgan upgraded the shipping giant following earnings on Tuesday. Jefferies reiterates Alphabet as buy Jefferies said its survey checks show Alphabet is top of mind for consumers when it comes to AI. Citi reiterates Nvidia as buy Citi raised its price target on Nvidia to $150 per share from $126. Morgan Stanley downgrades Accenture to equal weight from overweight Morgan Stanley said shares of the IT company are "no longer" attractive.

Persons: Tesla, Stifel, it's, Piper Sandler, Piper, Goldman Sachs, Goldman, Mark Clouse, Carrie Anderson, Rebecca Gardy, Wolfe, HOOD, Warnick, Shopify, Rosenblatt, Nike's, Morgan Stanley, Jefferies, GOOGL, Stephens, Wells, BTIG, Northrop, Rivian, Piper Sandler downgrades Aptiv Organizations: JPMorgan, FedEx, Campbell, Barclays, Nu Holdings, BMO, Steel, Nippon, US Steel, X, Digital Realty, Citi, U.S, Caterpillar, Apple, Apple Intelligence, Android, UBS, Nike, Nvidia, Davidson, Home, Bank of America, " Bank of America, shipper, UPS, Cruises, Northrop Grumman, VW, JV, Accenture Locations: 1Q24, Mexico, Brazil, China, Houston, U.S, Rivian

☆ What Rivian's venture with Volkswagen means for the EV maker, broader auto industry
▼ + stars: | 2024-06-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Rivian 's latest partnership with Volkswagen could prove a major boon for investors and the broader auto industry, according to some Wall Street analysts. As part of the plan, Volkswagen will inject $1 billion, followed by an additional $4 billion investment planned by 2026. RIVN 1D mountain Shares pop on Volkswagen venture But Wall Street views the deal as a potential turnaround opportunity that can help limit execution risks and uncertainties surrounding funding that have spooked investors in recent months. Big wins for the auto industry While the venture justifies Rivian's strategy, some on Wall Street anticipate potential big wins for the broader auto industry. He added that the venture also highlights the need for proprietary electronic control units and software.

Persons: Rivian, John Murphy, Ryan Brinkman, Dan Levy, Levy, Wells, Colin Langan, Morgan Stanley's Adam Jonas, Jonas, Tesla, Piper Sandler, Alexander Potter, America's Murphy Organizations: Volkswagen, Bank of America, JPMorgan, Barclays, Bank, Lucid Group Locations: China

☆ Stocks making the biggest moves premarket: Rivian, FedEx, Whirlpool, Nvidia, Micron and more
▼ + stars: | 2024-06-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Rivian Automotive — Shares of Rivian Automotive skyrocketed more than 40% after the electric vehicle company secured up to $5 billion in funding from Volkswagen Group. A so-called short squeeze added fuel to the gain as about 19% of the Rivian shares available for trading were sold short before this news, according to FactSet. Nvidia — The chip stock added more than 2%, building on a nearly 7% rebound during Tuesday's session. Aptiv — The automotive technology stock dropped 7% after Piper Sandler downgraded Aptiv to underweight from neutral and cut its price target. Robinhood — Shares added 3%.

Persons: Bosch, Mills, Aptiv, Piper Sandler, Campbell, Ken Goldman, Wolfe, Sarah Min, Lisa Han, Jesse Pound, Michelle Fox Organizations: Rivian Automotive, Volkswagen Group, FactSet, FedEx — FedEx, Whirlpool, Reuters, Southwest Airlines —, Nvidia, Citi Research, Rivian, Volkswagen, JPMorgan, United States Steel, BMO Capital Markets, U.S, Steel, Nippon Steel, Micron Technology Locations: Tuesday's

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