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☆ Stock market today: Indexes mixed as traders look to recover from chip sell-off
▼ + stars: | 2024-10-16 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks wavered on Wednesday as traders looked to recover from a sell-off in the chip sector. Morgan Stanley beat estimates on strong investment banking activity. AdvertisementUS stocks wavered on Wednesday as traders looked to recover from a sell-off in the chip sector and waited for another round of corporate earnings reports. The Nasdaq was down slightly as chip stocks struggled to recover from Tuesday's sell-off. Chip stocks stumbled in the previous session after ASML cut its sales guidance for 2025.

Persons: Morgan Stanley, —, Wall Organizations: Service, Dow Jones, Nasdaq, AMD, Nvidia

☆ Stock market today: Dow jumps 337 points to fresh record as US stocks rise on solid earnings
▼ + stars: | 2024-10-16 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Stocks rose on Wednesday after traders took in a handful of strong corporate earnings reports. Chip stocks wavered after Tuesday's selloff, with eyes on TSMC ahead of earnings. AdvertisementUS stocks rose on Wednesday as traders took in strong earnings results to bounce back from a sell-off in the chip sector in the previous session. Stocks, though, are on par for another strong quarter of earnings results. The S&P 500 is on track to report 7% year-per-year earnings growth for the third quarter, according to estimates from FactSet.

Persons: Morgan Stanley, Tuesday's selloff, —, ASML Organizations: United Airlines, Service, Dow Jones, Micro Devices, Investors, Nvidia Locations: FactSet, Here's

☆ We're bending our investment rules and starting positions in 2 of our Bullpen stocks
▼ + stars: | 2024-10-16 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

We're initiating positions for Jim Cramer's Charitable Trust in BlackRock and CrowdStrike . BlackRock is the world's largest asset management manager and leading provider of investment, advisor, and risk management solutions. There's a good whitepaper on CrowdStrike's website published by IDC that explains the value of the CrowdStrike Falcon XDR platform. It was a major blow for a cybersecurity company, especially one with a pristine reputation. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, CrowdStrike, Larry Fink, Fink, George Kurtz, Jim, Satya Nadella, They've, Jim Cramer Organizations: BLK, CRWD, BlackRock, Trust, Investing, Retail, Blackrock, Global Infrastructure Partners, Management, Money, We're, IDC, Falcon, Microsoft, Palo Alto Networks, Alto Networks, SEC, CNBC Locations: BlackRock, CrowdStrike, Blackrock, Palo, Cybersecurity, We're

☆ Citi names 'underappreciated' AI stock as a top pick — giving it 25% upside
▼ + stars: | 2024-10-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Citi has named Pegasystems one of its new top picks, citing an "underappreciated" artificial intelligence story and attractive valuation. The Wall Street bank has set a target price of $92 for Pegasystems, representing a potential 25% upside from its current trading price of around $73.50. Pegasystems, an enterprise software firm, has seen its stock price surge by over 50% year-to-date, outperforming the broader iShares Expanded Tech-Software Sector ETF , which is up nearly 14% this year. Citi analysts view this development as a catalyst for the stock to rise. On a fundamental level, Citi's analysts also believe that Pegasystems' unique approach to artificial intelligence, particularly its "blueprint" strategy, sets it apart from competitors, calling it an "underappreciated gen AI story."

Persons: PEGA, Pegasystems, Appian, Steven Enders, George Kurosawa, JMP, — CNBC's Michael Bloom Organizations: Citi, Software, Appian Corporation, Virginia, Wall, Revenue Locations: Massachusetts

☆ Data centers will prolong coal demand, benefiting these miners, Moody’s says
▼ + stars: | 2024-10-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

The power needs of data centers will temporarily prolong the demand for coal, maintaining the reliability of the electric grid but delaying the nation's decarbonization goals, according to Moody's Ratings. The electricity demand from data centers could more than double to 35 gigawatts by 2030 compared to 17 gigawatts in 2022, according to a Moody's report published Monday. "It can be cost effective for them to supply coal to those power plants, and those power plants can, in turn, meet the incremental demand coming in from the new data centers," Sama said. The benefit to U.S. coal producers, however, will be temporary as data center developers transition to cleaner sources of power, according to Moody's. But sustained coal demand in the U.S. due to data centers could briefly lift prices before coal resumes its decline after a few years, according to Moody's.

Persons: Elena Nadtotchi, Sandeep Sama, Sama, Joseph Craft, Consol Organizations: Coal, Resource Partners, Arch Resources, Consol Energy, CNBC, Resources, Energy Information Administration, Department of Energy, PJM, Alliance, Wall Street Locations: U.S, Appalachia, Virginia

The vast majority of analysts surveyed by FactSet hold a strong buy or buy rating on the stock. Despite its recent slowdown, analysts surveyed by FactSet have a consensus buy rating on the dominant e-commerce platform. Bullish voices on the stock include Goldman Sachs analyst Eric Sheridan, who recently reiterated a buy rating and $230 price target. JPMorgan's Anmuth is similarly positive on Amazon ahead of earnings, rating the stock overweight and saying it remains the favorite in the bank's firm's internet sector coverage. The consensus FactSet rating on Meta is buy, with an average price target of $604, suggesting just 2.3% potential upside.

Persons: Roundhill, —, selloff, Goldman Sachs, Kash Rangan, Nvidia's Blackwell, Brad Zelnick, Amit Daryanani, Daryanani, Apple's wearables, qtr, Tim Cook's, you'd, Morgan Stanley, Jensen, Blackwell, Biden, Tesla, enthusiam, Elon, Wells, Colin Langan, Department's, Doug Anmuth, Bank of America's Justin Post, Eric Sheridan, Sheridan, Goldman, Anmuth, Baird, Roth MKM, JPMorgan's Anmuth, Goldman's Sheridan, Meta's, — CNBC's Michael Bloom Organizations: Apple, Microsoft, Nvidia, Tesla, CNBC, Windows, Investment, Deutsche Bank, Justice Department, Blackwell, Bloomberg, Ford, General Motors, EV, Google, FactSet, Bank of America's, ISI, Walmart, Costco, eBay, Meta, Ray, Labs, Facebook, Temu, Goldman Locations: China, FactSet, ., Downside, U.S, Wells Fargo, American, Meta's Asia, Pacific

☆ Stocks making the biggest moves after hours: United Airlines, J.B. Hunt and more
▼ + stars: | 2024-10-15 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

United Airlines — The travel stock dipped less than 1% despite United's third-quarter report beating estimates on the top and bottom lines. United reported adjusted earnings of $3.33 per share on $14.84 billion of revenue. Interactive Brokers — Shares of the brokerage firm fell more than 3% after third-quarter earnings missed expectations. J.B. Hunt Transport Services — The freight shipping company surged 8% after beating third-quarter estimates on the top and bottom lines. J.B. Hunt reported earnings of $1.49 per share on $3.07 billion of revenue.

Persons: LSEG, . Hunt Organizations: . United Airlines —, United, Interactive, Hunt Transport Services

☆ HSBC says these stocks are buys ahead of their earnings reports
▼ + stars: | 2024-10-14 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

HSBC has high hopes for the third quarter earnings season and is sure that some stocks will do better than others. In the three months ended June 30, nearly 79% of companies in the S & P 500 beat analysts' earnings expectations, while 60% of companies in the index posted an upside surprise to Wall Street revenue forecasts. Ahead of the third-quarter earnings season, HSBC recently listed its favorite stocks to buy, where it believes market expectations are low and there are opportunities. More than half the analysts covering Target give the stock a buy rating, and the average price target implies 16% upside. The average price target corresponds to upside of just 3% or so, based on the same FactSet survey.

Persons: Daniela Bretthauer's, Bretthauer, Stephen Bersey's, Bersey, Wesley Brooks, Brooks, Morgan Stanley Organizations: HSBC, BlackRock, JPMorgan, Wells, Financial, Citigroup, PNC Financial Services, Netflix, Procter, Gamble, Wall, Target, Oracle Cloud Infrastructure, Oracle, 3M, 3M's Locations: Wells Fargo, Minnesota, Target's, Friday's

☆ Bank of America thinks this senior housing stock trouncing the market has another 50% run to go
▼ + stars: | 2024-10-14 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Unappreciated aspects of Welltower , a real estate investment trust, or REIT, that invests in health-care infrastructure, are likely to translate into long-term growth ahead, according to Bank of America. Analyst Joshua Dennerlein reiterated his buy rating on the S & P 500 company, which owns senior housing as well as post-acute care and outpatient medical facilities. He also increased his price target by $61 to $190, the highest on the Street, according to FactSet, which implies nearly 52% upside from Friday's close. This year, the stock has been on a monster run, soaring about 41%, excluding reinvested dividends, versus 22.5% for the S & P 500. The Bank of America recommendation joins several other analysts on Wall Street who are bullish on Welltower.

Persons: Joshua Dennerlein, Welltower, Dennerlein, — Organizations: Bank of America, of, Wall Locations: Toledo , Ohio

☆ Warren Buffett's Berkshire Hathaway hikes its SiriusXM stake to 32% after Liberty deal
▼ + stars: | 2024-10-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett walks the floor and meets with Berkshire Hathaway shareholders ahead of their annual meeting in Omaha, Nebraska on May 3rd, 2024. Warren Buffett's Berkshire Hathaway continued to increase its stake in SiriusXM , now owning 32% of the New York-based satellite radio company. Berkshire hiked its bet after billionaire John Malone's Liberty Media completed its deal in early September to combine its tracking stocks with the rest of the audio entertainment company. Buffett's firm first bought Liberty Media's trackers in 2016 and started piling into SiriusXM's tracking stocks in the beginning of 2024 after the deal announcement in a likely merger arbitrage play. Meanwhile, the Liberty transaction, which reduced share count by 12%, could cause the company to pause stock buybacks until 2027, which will likely weigh on shares, the analyst said.

Persons: Warren Buffett, Warren Buffett's Berkshire Hathaway, John Malone's, Ted Weschler, Todd Combs, Sebastiano Petti Organizations: Berkshire Hathaway, Securities and Exchange Commission, Berkshire, John Malone's Liberty Media, Atlanta Braves, Liberty, JPMorgan Locations: Omaha , Nebraska, SiriusXM, York, The Omaha , Nebraska

☆ Earnings playbook: The first big week of the season includes reports from Netflix and big banks
▼ + stars: | 2024-10-13 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

Last quarter: Bank of America jumped after saying a rebound in net interest income was coming . What history shows: Bank of America shares have risen in 10 of the last 12 earnings days, according to Bespoke Investment Group. What history shows: Netflix tends to struggle on earnings days, averaging a slight decline, according to Bespoke. Shares have also fallen in two of the last three earnings days, including a 9.1% drop in April. What history shows: Bespoke data shows Procter & Gamble beats earnings expectations 85% of the time.

Persons: Goldman Sachs, Wells, Hugh Son, Goldman, Leslie Josephs, Wednesday Morgan Stanley, Morgan Stanley, Bryan Kraft, Kraft, Procter & Gamble, Procter, Lauren Lieberman Organizations: Netflix, Procter, Gamble, Big, Bank of America, JPMorgan Chase, BlackRock, Tuesday Bank of America, CNBC, Investment, LSEG, JPMorgan, United Airlines, U.S, Delta, Wednesday, Deutsche Bank, Procter &, Barclays Locations: Wells Fargo, U.S, China

☆ S&P 500 grinds higher to further record highs, finding little to fear in October
▼ + stars: | 2024-10-12 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

This time of year typically tests nerves, more so when — as now — an election is onrushing and the S & P 500 was already up 20% for the year. Since June 30, the equal-weighted S & P 500 has gained 9.5%, more than triple the Nasdaq 100's rise. A buyer at the mid-July S & P 500 peak of 5667 sustained a quick 8% tumble in three weeks. Goldman Sachs calculated VIX being this elevated with the S & P 500 calmly clicking to record highs is essentially unheard-of. Cash that's still yielding well more than inflation and bonds holding their value allow investors to shoulder higher equity exposures rather than rotating out.

Persons: isn't, it's, Goldman Sachs, Cash, Friday's Organizations: Federal Reserve, Nasdaq, American Association of, Deutsche, –, Bank

☆ Goldman's favorite trades for the upcoming earnings season
▼ + stars: | 2024-10-11 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

"This rise in nervousness has increased the potential for relief rallies for stocks on their respective earnings events." Analysts expect an earnings growth rate for the S & P 500 of 4.2% in the third quarter, per FactSet data, which would represent a fifth-straight period of year-over-year growth. Here's a look at some of Goldman's top trade ideas heading into earnings season. GAP YTD mountain Gap stock. NVDA YTD mountain Nvidia stock.

Persons: Goldman Sachs, John Marshall, Goldman, Wells Fargo, Brooke Roach, Toshiya Hari, Hari Organizations: JPMorgan Chase, Old Navy, GAP, Nvidia, Broadcom, Boston Scientific

☆ How to play AI in a cheaper way without owning stocks like Nvidia, according to a fund manager
▼ + stars: | 2024-10-11 | by ( Weizhen Tan | Nicole Teo | ) www.cnbc.com time to read: +2 min

Buying shares of Nvidia or other semiconductor and Big Tech stocks is just one way to play the artificial intelligence theme. There's a cheaper way to play it, Sean Peche of Ranmore Fund Management told CNBC Pro Talks last week. "Most investors over the last couple of years have thought that the only way to play AI is to own Nvidia and a few of the other peers," the portfolio manager said. AI is going to help these banks, but investors are "not paying for" the AI factor given that these stocks are trading at only six times earnings, he pointed out. Shares of Nvidia are trading at around 57 times earnings.

Persons: Sean Peche, Peche, You've, it's, I've, Unicredit Organizations: Nvidia, Big Tech, Ranmore Fund Management, CNBC, BNP Paribas, ABN Amro, UniCredit

☆ Investors should take China ‘very seriously,’ fund manager says, naming a stock to start with
▼ + stars: | 2024-10-11 | by ( Nicole Teo | ) www.cnbc.com time to read: +4 min

With all eyes on China right now, one fund manager is bullish on the country regardless of any "bazooka" stimulus measures, saying investors should be getting involved. Starting on Sept. 24, China announced a string of stimulus measures aimed at boosting China's economy . Stephen Roach, for example, former chief economist at Morgan Stanley, warned investors against being too swept up in the China market rally . 'Starting point' For those looking to invest in China, Glass said a good "starting point" was Midea Group , which makes appliances and industrial robots. Analysts' average price target is 4.49 Hong Kong dollars, which gives the stock almost 30% potential downside from its current price around 6.40 Hong Kong dollars.

Persons: Steven Glass, Glass, hasn't, CNBC's, Stephen Roach, Morgan Stanley, Midea Organizations: Sydney, Pella Funds, Investors, National Development, CSI, HSBC, Generations Fund, Midea Group, China Equity, Hong, Garden Services Holdings Locations: China, Pella, Hong Kong, Shenzhen, U.S, Hong

☆ Stock market next week: Earnings season ramps up with more big bank results
▼ + stars: | 2024-10-11 | by ( Sarah Min | Nicole Teo | ) www.cnbc.com time to read: +6 min

And, with earnings season set to ramp up, that could mean further gains. Already, on Friday, JPMorgan Chase and Wells Fargo were rallying in midday trading after reporting their latest results this week, an auspicious start to the earnings season. A strong earnings season Earnings results next week will be dominated by reports from the banking sector, giving investors further insight into the health of the capital markets as well as the consumer. Several regional banks are also set to announce how they did in the most recent quarter as well, such as PNC Financial Services Group and Citizens Financial Group. Even so, investors are optimistic about the outlook for corporate profits this earnings season, especially with expectations having come down.

Persons: what's, Oppenheimer, Wells Fargo, Charlie Ashley, Ashley, Goldman Sachs, Morgan Stanley, Ross Mayfield, Catalyst's Ashley, Baird's Mayfield, Mayfield, Charles Schwab, Huntington Bancshares Organizations: Dow Jones, Tech, Nvidia, JPMorgan Chase, Traders, Federal Reserve, Catalyst Funds, Nasdaq, Ashley . Bank of America, PNC Financial Services Group, Citizens Financial Group, Private Wealth Management, Treasury, Columbus, Columbus Day, Index, United Airlines, Hunt Transport Services, Citigroup, State, Goldman Sachs Group, Walgreens Boots Alliance, Johnson, Bank of America, PNC Financial Services, UnitedHealth, Price, PPG Industries, Steel Dynamics, Discover Financial Services, CSX, Abbott Laboratories, U.S . Bancorp, Financial Group, Philadelphia Fed, Retail, Manufacturing, Netflix, T Bank Corp, Elevance, Truist, Blackstone, Housing, Schlumberger, Procter, Gamble, Fifth Third Bancorp, Regions Financial, American Express Locations: Ashley, bullish, Prologis, NAHB

☆ Another key US inflation gauge fell in September
▼ + stars: | 2024-10-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

CNN —Inflation for US producers slowed further in September, adding to hopes that prices aren’t getting jacked up before they get to consumers. The annual rate is running faster than the 1.6% gain economists expected, according to FactSet estimates; however, August’s rate was revised higher from the initial 1.7% estimate, so prices still fell in September. PPI is important because it’s often seen as a bellwether for the price increases consumers will wind up paying down the line. On Thursday, the Consumer Price Index — a measurement of average price changes for commonly purchased goods and services — cooled to 2.4%, its lowest rate since February 2021. As a result, Fed officials have now shifted from trying to contain inflation to trying to keep the job market healthy, the other half of their so-called dual mandate.

Persons: Price, that’s Organizations: CNN, of Labor Statistics, PPI, Federal Reserve

☆ Stocks making the biggest moves midday: Tesla, Wells Fargo, JPMorgan Chase, Fastenal and more
▼ + stars: | 2024-10-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

Third-quarter adjusted earnings were $1.52 per share, topping the $1.28 per share expected from analysts polled by LSEG. JPMorgan Chase – Shares jumped 4.7% after JPMorgan, the biggest American bank, posted third-quarter results that beat estimates for profit and revenue. BlackRock – Shares climbed 2.8% after the asset manager beat analysts' third-quarter expectations on the top and bottom lines. Bank of New York Mellon – The bank stock dropped 1%, even after the company issued a stronger-than-expected quarterly report. Analysts surveyed by LSEG were expecting $1.42 in earnings per share on $4.54 billion of revenue.

Persons: Morgan Stanley, Wells Fargo, JPMorgan Chase, Walmex –, Fastenal, FactSet, Wells, Warren Buffett's Berkshire Hathaway, Buffett, Natalie Knight, Doug Ostermann, Stellantis, Carlos Tavares, who's, LSEG, Kinder Morgan, Ferrari, BNY, —, Alex Harring, Lisa Kailai Han, Pia Singh, Hakyung Kim, Jesse Pound, Michelle Fox Organizations: San, LSEG, JPMorgan, JPMorgan Chase –, Walmart, Apple Pay, Bank of America, Securities and Exchange Commission, Finance, BlackRock, of, Bank of New York Mellon Locations: San Francisco, LSEG .

☆ Wells Fargo shares jump after earnings top Wall Street expectations
▼ + stars: | 2024-10-11 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Wells Fargo on Friday reported third-quarter earnings that exceeded Wall Street expectations, causing its shares to rise. The better-than-expected earnings came even with a sizeable decline in net interest income, a key measure of what a bank makes on lending. "Our revenue sources are more diverse and fee-based revenue grew 16% during the first nine months of the year, largely offsetting net interest income headwinds." Wells saw net income fall to $5.11 billion, or $1.42 per share, in the third quarter, from $5.77 billion, or $1.48 per share, during the same quarter a year ago. The net income includes $447 million, or 10 cents a share, in losses on debt securities, the company said.

Persons: Wells, Charles Scharf Organizations: LSEG Locations: Wells Fargo, San Francisco

☆ 'That's it?' Morgan Stanley rips Tesla robotaxi event for lack of detail
▼ + stars: | 2024-10-11 | by ( Pia Singh | In | ) www.cnbc.com time to read: +4 min

Wall Street has been fairly hot-and-cold on Tesla stock this year — and its highly anticipated robotaxi unveiling on Thursday isn't helping to improve investor sentiment. As such, we anticipate TSLA to be under pressure following the event," Jonas, the firm's head of global auto and shared mobility research, said in a Friday note to clients entitled "That's it? TSLA YTD mountain Tesla stock this year. Simply put, the event failed to offer a significant bright spot for Tesla's stock, according to Jonas. The analyst has an eye on Tesla's expectation to start fully autonomous, unsupervised FSD in Texas and California for its Model 3 and Model Y electric vehicles.

Persons: Morgan Stanley's Adam Jonas, Jonas, Tesla, Elon Musk's, Musk, TLSA, Tesla's, FactSet Organizations: Investors, Morgan Locations: Los Angeles, FSD, Texas, California

☆ We're hiking our Wells Fargo price target after the stock surged on earnings
▼ + stars: | 2024-10-11 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Wells Fargo reported results before Friday's opening bell. WFC YTD mountain Wells Fargo YTD Shares of Wells Fargo surged 6% on the release to more than $61. Wells Fargo Why we own it : We bought Wells Fargo as a turnaround story under CEO Charlie Scharf. We come away from the call feeling good not only about Wells Fargo's setup for next year. A resurgence in Wall Street dealmaking — both mergers and acquisitions and initial public offerings — will benefit Wells Fargo.

Persons: Wells, Wells Fargo, That's, Charlie Scharf, He's, Scharf, Charles Scharf, we've, Morgan Stanley, NII, Jim Cramer's, Jim Cramer, Jim Organizations: Investors, Wells, Federal Reserve, Bank of America, Citigroup, buybacks, Management, CNBC Locations: LSEG, Wells, Wells Fargo, reinvest, U.S, NII

☆ Consumer price inflation slows in September
▼ + stars: | 2024-10-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

CNN —Price increases have slowed considerably from their peak two years ago and are now rising at a similar pace to inflation in 2017 and 2018, according to new inflation data released Thursday. The Consumer Price Index, which measures price changes across commonly purchased goods and services, was 2.4% for the 12 months ended in September, slowing from a 2.5% annual rate in August, according to the latest Bureau of Labor Statistics report. On a monthly basis, prices rose 0.2%, in line with the advance in August but faster than economists’ projections of 0.1%. A jump in food prices combined with ongoing shelter-related price-hikes pushed the overall CPI higher last month, BLS said. Still, economists say that inflation is headed in the right direction, because the factors that pushed prices higher during the pandemic era have largely faded while demand has slowed to more normal levels.

Persons: CNN — Price, – Organizations: CNN, Labor Statistics, BLS

☆ Microsoft faces disruption from AI, says outperforming fund manager dumping the stock
▼ + stars: | 2024-10-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

In 2023, the fund returned 30.7%, significantly outperforming its benchmark and the S & P 500, which was up 26%. Yiu's decision stems from his belief that Microsoft's business model is about to change significantly in light of the rise of generative AI. Microsoft has been leading the charge in generative AI adoption. The crux of the issue lies in the increased costs associated with providing AI services, according to the outperforming fund manager. Nvidia's chips, while readily available, allows the Silicon Valley company to capture much of the profit from generative AI services instead.

Persons: Stephen Yiu, Yiu, OpenAI Organizations: Microsoft, Growth, Growth Fund, CNBC Pro, Conference, Nvidia Locations: London

☆ These stocks reporting earnings next week have a history of beating expectations
▼ + stars: | 2024-10-10 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Earnings season is heating up, and investors' expectations are strong leading up to several financial reports due next week. For the third quarter, the estimated year-over-year earnings growth rate for the S & P 500 is 4.2% — which would mark the fifth straight quarter of year-over-year earnings growth for the index if it happens, according to FactSet. Nearly half of S & P 500 companies that will report earnings this week are financials. Alexopoulos has an overweight rating and Dec. 2025 price target of $100.00 on the mid-sized bank, which suggests shares can gain 19.4%. Their average price target suggests just 3.4% potential upside over the next year.

Persons: It's, Steven Alexopoulos Organizations: Investment, Citizens, FactSet, CNBC, Western Alliance, JPMorgan

☆ Stocks making the biggest moves midday: Norwegian Cruise Line, Reddit, Chewy, Boeing and more
▼ + stars: | 2024-10-09 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Norwegian Cruise Line – Shares popped 10% on the heels of a Citi upgrade to buy from neutral. Citi said the company should see significant growth in earnings per share that can drive earnings upside and expand the margin. Reddit – The social forum stock gained close to 2% after Jefferies began coverage on the name with a buy rating. Helen of Troy – The housewares stock soared more than 19% after the company's second-quarter earnings beat Wall Street's expectations. Chewy – The pet product online retailer saw shares rising 3% after TD Cowen initiated coverage on the stock with a buy rating.

Persons: Jefferies, John Colantuoni, Rio, GitLab, Morgan Stanley, Helen of Troy –, Helen of Troy, FactSet, TD Cowen, Chewy, —, Alex Harring, Yun Li, Lisa Kailai Han, Jesse Pound Organizations: Cruise, Citi, Bayer – U.S, Washington Supreme, Sky Valley Education Center, Monsanto, Rio Tinto, Boeing –, Boeing, Department, Google Locations: Washington, Rio, U.S

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