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These are the most overbought stocks as November kicks off
  + stars: | 2024-11-01 | by ( Pia Singh | In | ) www.cnbc.com   time to read: +4 min
Investors have been accumulating shares of several big-name companies, from GE Vernova to United Airlines , during the market's recent dip. But those and other overbought stocks could be due for a pullback, according to one popular yardstick. Strong earnings from tech giants Amazon and Intel late Thursday were partly responsible for equity gains on Friday, as investors still look to megacap tech stocks for leadership. CNBC Pro screened for stocks that are considered technically overbought on the basis of their 14-day relative strength index, or RSI. Companies with a 14-day RSI above 70 are often regarded as overbought, signaling a pullback may be ahead, while a 14-day RSI below 30 often suggests a stock is oversold and could see future upside.
Persons: Nicole DeBlase, DeBlase, FactSet, Estée Lauder, Dr Pepper Organizations: GE Vernova, United Airlines, Dow, Nasdaq, Amazon, Intel, CNBC Pro, Companies, GE, FactSet, Electric, Deutsche Bank, Pharmaceuticals, eBay Locations: United, U.S, Chicago, China
The weird behavior follows devastating Ukrainian attacks on the Black Sea Fleet. The puzzling behavior has not yet been attributed to anything in particular, but it comes against the backdrop of a Ukrainian long-range strike campaign against the Russian Black Sea Fleet. The Black Sea Fleet was long headquartered at Sevastopol, in the southwestern corner of the occupied Crimean peninsula. Related Video Ukraine's sea drones vs. Russia's Black Sea FleetRussian warships during a naval celebration in Novorossiysk in July 2022. Ukraine's Sea Baby drones have been a weapon of choice during the Black Sea campaign.
Persons: , BlackSky, BlackSky Brady Africk, Africk, That's Organizations: Black, Service, Business, Fleet, Ukrainian, Sea Fleet, AP, US, American Enterprise Institute, Security Service, Kyiv, Russian Locations: Russian, Russia, Novorossiysk, Sevastopol, Crimean, Feodosia, Crimea, Ukraine, Kyiv, we've, Moscow
Coterra Energy Why we own it: Formed by the merger of Cabot Oil & Gas and Cimarex, Coterra Energy is an exploration-and-production company with a high-quality, diversified asset portfolio. It's committed to returning 50% or greater of annual free cash flow to shareholders. However, shares are moving lower Friday after management cut its discretionary cash flow outlook for the remainder of the year. So far this year, Coterra has returned 100% of its free cash flow to shareholders. As a reminder, management's stated commitment is to return 50% or more of annual free cash flow via dividends and buybacks.
Persons: , It's, Coterra, management's, We're, Daniel Guffey, Jim Cramer's, Jim Cramer, Jim, Brandon Bell Organizations: Coterra Energy, LSEG, Coterra, Cabot Oil & Gas, EQT Corp, Devon Energy, Oil, CNBC, Getty Locations: Nolan , Texas
Russia faces a crisis whether it continues the war or not, economist Alexander Mertens says. War spending has been a major boost to Moscow's GDP growth and wealth, and ending the war will be tricky. If Russia continues the war, the economy looks on track for a "severe recession" and long-running stagnation, Mertens said. "The current state of the Russian economy is far from critical but it does present Putin with a dilemma. The Russian economy is not yet close to collapse, but it is increasingly dependent on wartime conditions and faces growing risks of overheating."
Persons: Alexander Mertens, , Vladimir Putin, Mertens, Merten, Putin, That's Organizations: Service, Kyiv's International Institute of Business, Ukraine, Atlantic Council, Russian National Welfare Fund, Kremlin, International Monetary Fund Locations: Russia, Ukrainian, Ukraine
The court that imposed the fine might be in for a long wait for Google to pay up, however. “This should be a reason for the Google leadership to pay attention to this and improve the situation.”The amount the court says Google owes is growing, too. The court ordered Google to restore the accounts within nine months, with a fine of 100,000 rubles (around $1,000) levied for each day after that period. Some of those Russian media outlets have also appealed to courts in Turkey, Hungary, Spain and South Africa to enforce court decisions made against Google in Russia. In the section of its third quarter earnings release titled 'Legal Matters,' Alphabet said: “We have ongoing legal matters relating to Russia.
Persons: Vladimir Putin’s, it’s, Larry Page, Sergey Brin, Dmitry Peskov, Yevgeny Prigozhin, Konstantin Malofeev Organizations: Google, Kremlin, NBC, RBC, YouTube, International Monetary Fund, NBC News, Wagner Group Locations: Russian, Ukraine, Turkey, Hungary, Spain, South Africa, Russia, South Africa’s
There could be additional upside to bitcoin and gold if former President Trump emerges victorious in next week's election, according to JPMorgan. Spot bitcoin ETFs saw $1.3 billion of new investor money in the first two days of this week, Panigirtzoglou noted. Meme and AI-related tokens are also outperforming the overall crypto market in another measure of retail investors' aniumal spirits. Bitcoin futures have become "rather overbought" and could face vulnerability "going forward." The picture is similar for gold, where retail investors continue to buy gold ETFs while activity in gold futures shows a pause.
Persons: Trump, Nikolaos Panigirtzoglou, Kamala Harris, Panigirtzoglou, CNBC's Michael Bloom Organizations: JPMorgan, Retail, Trump, Republican, Democratic
Following Thursday's trade, Jim Cramer's Charitable Trust will own 525 shares of DHR, increasing its weighting to 3.67% from 3.5%. With expectations more reasonable, Danaher is in a better position to beat next year, which should lead to a higher stock price. Our Club price target on Danaher is $305 per share, a tad higher than Wolfe's, and it implies 26% upside to Wednesday's close. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer's, Danaher, Wolfe, Jim Cramer, Jim Organizations: DHR, Wolfe Research, CNBC Locations: Danaher
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStand alone entertainment channels are weak assets for the future, says Newsweek's Tom RogersCNBC’s Julia Boorstin with Newsweek's Tom Rogers and The WSJ’s Joe Flint, join 'Power Lunch' to discuss Comcast exploring its option to spin-off cable channels.
Persons: Newsweek's Tom Rogers CNBC’s Julia Boorstin, Newsweek's Tom Rogers, Joe Flint Organizations: Comcast
Cable TV networks look like they're in permanent decline. AdvertisementThe future of cable TV channels is not looking good, at all. And basic cable TV networks are bearing the brunt of the collapse. Programming from the cable networks, for instance, is part of the pitch behind its Peacock streamer. question — if Comcast doesn't want these assets contaminating its core business, why would anyone else want to own it?
Persons: , MSNBC —, WBD, Mike Cavanagh, There's, Craig Moffett, Cavanagh, They're, Brian Roberts Organizations: Cable, Comcast, Warner Bros, Service, CNBC, MSNBC, NBC Universal, NBC, Discovery, Paramount Locations: Bravo, USA
Apple CEO Tim Cook (C) joins customers during Apple's iPhone 16 launch in New York on September 20, 2024. Apple's second-largest division after the iPhone has turned into a $100 billion a year business that Wall Street loves. In Apple's earnings report on Thursday, the company said it reached just under $25 billion in services revenue, an all-time high for the category, and 12% growth on an annual basis. Apple's services unit has become a critical part of Apple's appeal to investors over the past decade. After Thursday, Apple's services business alone, based on its most recent run rate, would land around 40th on the Fortune 500, topping Morgan Stanley and Johnson & Johnson.
Persons: Tim Cook, Apple's, Apple, Luca Maestri, We've, Cook, Morgan Stanley, Johnson, Maestri Organizations: Apple, Services, SEC, Google, Apple Pay, Johnson Locations: New York, Europe
Someone apparently forgot to tell mutual fund managers that they are supposed to be worried right now. Professional fund managers have been increasing their bets on stocks since the fourth quarter got underway earlier this month, according to Bank of America. "Watching mutual fund cash levels is typically like watching paint dry, but not this month. That shift is notable ahead of the election and suggests that some fund managers are unconcerned about short-term volatility as votes roll in. Fund managers are underweight that area relative to history, and could rotate into those stocks if they gain more confidence, according to Subramanian.
Persons: Savita Subramanian, Cash, Subramanian Organizations: Bank of America . Equity, Investment Company Institute
Trump's plans could mean tax hikes for lower earners; Harris' proposals would target higher earners. This is the fourth in a five-part series about the impacts either a Trump or a Harris presidency could have on US consumers. Trump has proposed extending his slew of tax cuts from the Tax Cuts and Jobs Act of 2017 — also known as the "Trump tax cut." But another part of Trump's tax policy — his plan to levy universal tariffs on all US imports — could end up undercutting this positive impact. AdvertisementTrump has floated lifting the $10,000 cap on the State and Local Tax deduction, known as SALT, from his 2017 tax bill.
Persons: Trump's, Harris, , you'll, Trump, He's, Garrett Watson, Harris hasn't, she's, Benjamin Page, Biden, Walz, Ernie Tedeschi, Watson, Tedeschi Organizations: Service, Business, Trump, Social Security, Taxation, Economic, Tax Foundation, State and, Urban, Brookings Tax, Yale Budget Lab, White House Council, Economic Advisers, Finance Locations: California , New Jersey, New York, Congress
The anti-aging market is littered with innovative products and procedures that promise consumers a healthier, happier, longer life. But prolonging your life isn't only about physical fitness: a near 90-year-long study from Harvard University found that those who live happier, longer lives have good relationships. If you want to live longer and feel more fulfilled you probably don't need lasers or freezers. 30 essential tips for living a longer, happier, more successful life1. If you can't drive, don't live somewhere where the doctor is a 30-minute car ride away.
Persons: superagers, dieticians, Warren, Buffets, Valter Longo, David Watson, Warren Buffet, Neil Paulvin, Danielle Miura, Mark La Spisa, García, Francesc Miralles, Charlie, Munger, Warren Buffett, it's, Thema Bryant Organizations: Harvard University, Italy —, Cancer Laboratory, IFOM, of Oncology, University of Notre Dame, GameStop Locations: New York City, Blue, Okinawa, Japan, Sardinia, Italy
Because, look: In terms of negotiating your salary, the right time is yesterday. Asking for a raise is one of the single most important things a woman can do to increase her total earning power over the course of her career. There are many things to negotiate for that can have value for you, and your employer, as you develop your career. These things may be of more tangible value to you tomorrow than a salary bump is to you today, because they can increase your earning power in the long run. If I hit these metrics, what kind of career progression and raise should I expect to see?"
Persons: Merrill Lynch, Sanford Bernstein, —‌, I've, you've Organizations: Citigroup —
Morgan Stanley is introducing a new portfolio for investors tied to the most prominent sports leagues. Morgan Stanley is hoping to change that. The idea for the new offering first came about when a Morgan Stanley client asked the bank to design a portfolio made up of the companies that support a specific sport. "This one person represents many, and multiples of many that are looking to invest in sports as a fan looking to get engaged." Morgan Stanley says the portfolio will mimic the risk characteristics of the S&P 500.
Persons: Morgan Stanley, Sandra Richards, Morgan Stanley's, Richards Organizations: Thursday, League, Sports, Morgan Stanley's Global Sports, Entertainment, Nielsen Sports
New York CNN —The last three years have upended everything about the way we expect the economy to work. But the pandemic-era inflationary period played out unlike any other in history, and wealthy people made out like bandits. And that may be because the only real inflation we’ve seen in decades was a multi-year profit bonanza for them. And that has provided a permission structure for some wealthy Trump supporters to shrug their shoulders at his inflationary economic agenda. But it won’t be the same flavor of profit-driven inflation we’ve seen over the past three years.
Persons: CNN Business ’, That’s, Donald Trump’s, “ It’s, , Kent Smetters, , we’ve, ” It’s, He’s, Harris, Josh Bivens, Bivens, ” Bivens Organizations: CNN Business, New York CNN, Wall, University of Pennsylvania’s Wharton School, Trump, Wall Street Journal Locations: New York, Ukraine
Coinbase Global's latest earnings were even weaker than expected, but with an eye toward next week's election and its effect on cryptocurrency markets, many analysts on Wall Street say the exchange is still a buy. Coinbase also warned that an October drop in the price of ether could offset growth in nontrading revenue in the current quarter. Coinbase tumbled as much as 8.6% in early trading Thursday, touching a low of $193.56. The election outcome at one point was widely viewed as a key catalyst for the price of bitcoin. On the earnings call, CEO Brian Armstrong said he expects to see "the most pro-crypto Congress ever" next year.
Persons: Coinbase, Joseph Vafi, Genuity, Citigroup's Peter Christiansen, Christiansen, , Brian Armstrong, Piper Sandler, Patrick Moley, — CNBC's Michael Bloom Organizations: Wall, White House, Citi, Canaccord, Bank of America, SEC Locations: U.S, .
Intel shares jump 9% on earnings beat, uplifting guidance
  + stars: | 2024-10-31 | by ( Jordan Novet | ) www.cnbc.com   time to read: +3 min
Intel shares rose 9% in extended trading on Thursday after the chipmaker reported better-than-expected earnings and issued quarterly guidance that topped estimates. Intel called for fiscal third-quarter adjusted earnings of 12 cents per share and revenue between $13.3 billion and $14.3 billion. Analysts had expected 8 cents in adjusted earnings per share and $13.66 billion in revenue. During the quarter, Intel announced the launch of Xeon 6 server processors and Gaudi artificial intelligence accelerators. As of Thursday's close, Intel shares were down about 57% in 2024, while the S&P 500 index had gained 20%.
Persons: Pat Gelsinger, Dave Zinsner, Gaudi, Harvest's Paul Meeks Organizations: Intel, CNBC, Qualcomm, Computing, StreetAccount, Revenue, Data Center Locations: Taipei, Taiwan
Comcast is thinking about separating or spinning off NBCUniversal's cable networks. NBCUniversal's cable networks aren't growing anymore. That vision never materialized, in part because the media world's attention shifted from traditional pay TV to streaming, which devalued cable networks. The small media company wants to be the vehicle for a cable network rollup, CNBC reported in 2022. But even if Starz doesn't achieve its vision of a cable network rollup, it's possible a private equity firm may have interest in harvesting a group of cable networks for cash.
Persons: Mike Cavanagh, we'll, John Malone, Malone, Dolan Organizations: Comcast, Syfy, USA Network, MSNBC, CNBC, Lionsgate, Starz, AMC Networks, E Networks, Hearst, Disney, Warner Bros, Discovery, Warner Bros . Discovery, Equity, Apollo Global Management, Paramount Global, Yahoo
Comcast is exploring a separation of its cable networks business, President Mike Cavanagh said Thursday. During the company's third-quarter earnings call with investors, Cavanagh said the company is exploring creating "a new, well-capitalized company owned by our shareholders and comprised of our strong portfolio of cable networks." NBCUniversal's cable networks portfolio includes Bravo, E!, Syfy, Oxygen True Crime and USA Network, as well as news networks MSNBC and CNBC. The company lost 365,000 cable TV customers during the third quarter. Discovery booked a $9.1 billion write-down of its TV networks, triggered by the reevaluation of the book value of the segment.
Persons: Mike Cavanagh, Cavanagh, we'll Organizations: Comcast, NBC, Bravo, Syfy, USA Network, MSNBC, CNBC, Warner Bros, Discovery, Paramount Global Locations: Paris
RIYADH — Franklin Templeton CEO Jenny Johnson said the firm is focused on doing right by its clients, in her first public comments after the company saw its worst quarter for financial outflows in its history and the Securities and Exchange Commission started a probe into suspicious trading at its fixed-income unit. Franklin Templeton's fixed-income business has also dealt with years of underperformance, which many investors expected to reverse course as money moves into bonds and other fixed-income products, which make up about 30% of the firm's assets. Johnson told CNBC Wednesday that the issue with Western Asset Management was damaging, but stressed that it stemmed from an isolated case, and that supporting clients was Franklin Templeton's top focus. "We've had an issue at Western which is isolated to an individual and a subset of strategies, but there's definitely been outflows in those strategies," Johnson told CNBC's Dan Murphy in Riyadh. "I mean, the good news — Western has a significant amount of other strategies that are outside of this and have a lot of global clients there, but we've definitely been hurt by the issues on those three strategies."
Persons: Franklin Templeton, Jenny Johnson, Ken Leech, Franklin Templeton's, Johnson, Franklin, We've, CNBC's Dan Murphy Organizations: Securities and Exchange Commission, Western Asset Management, SEC, Financial Times, CNBC Wednesday, Franklin Templeton's Locations: RIYADH, California, outflows, Riyadh
SHANGHAI — ByteDance founder Zhang Yiming is China’s richest person, with personal wealth of $49.3 billion, an annual rich list showed Tuesday, although counterparts in real estate and renewables have fared less well. Zhang, 41, who stepped down in 2021 as chief executive of ByteDance, the Beijing-based parent company of TikTok, becomes the 18th individual to be crowned China’s richest person in the 26 years since the Hurun China Rich List was first published. He overtook bottled water magnate Zhong Shanshan, who slipped to second place as his fortune dropped 24%, to $47.9 billion. Despite a legal battle over its U.S. assets, ByteDance’s global revenue grew 30% last year to $110 billion, Hurun said, helping to propel Zhang’s personal fortune. The number of billionaires on the list dropped by 142 to 753, shrinking more than a third from its 2021 peak.
Persons: Zhang Yiming, Zhang, China Rich, Zhong Shanshan, Hurun, Pony Ma, Colin Huang, , Rupert Hoogewerf, Lei, Hoogewerf Organizations: SHANGHAI, ByteDance, PDD Holdings Locations: Beijing, China
I can offer some firsthand observations on Caroline's state of mind in the immediate aftermath of the FTX collapse. But in that conversation, she just could not stop crying, saying multiple times that she "knew". At that point, she set up a makeshift home office and started having multiple calls with the new FTX management. At times, this strength of hers has been critical to our family, especially my wife, as Caroline has helped reassure us. Although Caroline would have liked to have had more success in her post-collapse job search, she has enjoyed the volunteer activities she's
Persons: Sam, they'd, Caroline, she'd Locations: FTX, Bahamas, Alameda, Hong Kong
The focus on advanced technologies has put the two countries into a different kind of arms race. The US Air Force secretary suggested that AI could be decisive in future warfare. On Tuesday, Air Force Secretary Frank Kendall said China has been effectively modernizing the People's Liberation Army, fielding systems with the intent of challenging US forces, especially its high-value combat assets like carriers and satellites. China has built up its Rocket Force, developing capabilities that put US military assets at military bases and airfields across the Indo-Pacific within striking range. The Air Force secretary said that he doesn't think people who say that AI is "going to determine who's the winner in the next battlefield" are "all that far off."
Persons: , Frank Kendall, Kendall, Xi Jinping, Sarah Weinstein, Giancarlo Casem Organizations: US Air Force, Service, Air Force, People's Liberation Army, Microelectronics, National Semiconductor Technology, PLA, Eastern Theater Command, Weibo, Department of Defense, Rocket Force, Navy, DARPA, USAF, Marines Locations: China, Taiwan, Beijing, Ukraine
Now the Kingdom plans to cut its foreign investment to prioritize domestic spending. AI is the new focus of investment as Saudi Arabia looks to position itself as a global technology hub. AdvertisementSaudi Arabia is pulling back on its global spending spree to focus on domestic investments. In September, Saudi Arabia held the third Global AI Summit, attracting a host of high-profile leaders and dealmakers. The new focus on domestic investment comes as Saudi Arabia's spending on Neom, its futuristic megacity in the desert, hit $1 trillion.
Persons: , Yasir Al Rumayyan, we've, Al Rumayyan, Yasir Al, Rumayyan, Hamad I Mohammed, Uber, Andreessen Horowitz Organizations: Service, Public Investment Fund, Future Investment, Economic, REUTERS, Investors, Saudi Press Agency, Financial Times, Saudi, AI, Bloomberg, Sindalah Locations: Saudi, Saudi Arabia, Riyadh, Davos, Switzerland, Neom
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