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Bank of America downgrades Solaredge to underperform from neutral Bank of America says Solaredge is at risk of tariffs in a Trump administration. Barclays downgrades Coty to underweight from equal weight Barclays downgraded the beauty stock following earnings and says it sees "strategy creep." Baird upgrades McKesson to outperform from neutral Baird upgraded the healthcare and medical supply company following earnings. JPMorgan upgrades Clearwater to overweight from neutral JPMorgan upgraded the software company following earnings. " Seaport downgrades Duolingo to neutral from buy The firm downgraded the language App company mainly on valuation following earnings.
Persons: Solaredge, Jefferies downgrades Palantir, Jefferies, PLTR, Bernstein, Ford, Morgan Stanley, Wolfe, it's, Trump, Coty, Schneider, Schneider National's, Apple, it's bullish, Max, Baird, MCK, JPM, CWAN, Guggenheim, Sunrun, Raymond James, Tesla Organizations: Barclays, Qualcomm, Bank of America, of America, Intelligence, Allstate, Nvidia, AMD, Coty, underperform Bank of America, Citi, Apple, Deutsche Bank, Disney, HC, JPMorgan, UBS, Vulcan, Guggenheim, Technologies, USM Locations: Trump, 1Q23, China, F4Q
Morgan Stanley resumes Broadcom as overweight Morgan Stanley resumed coverage of Broadcom , saying it's "compelling." UBS reiterates Apple as neutral UBS said its survey checks show that interest in AI remains "muted" for Apple. Morgan Stanley names DraftKings a top pick Despite gaming tax issues in Illinois, Morgan Stanley moved the gaming stock back to top-pick status. Morgan Stanley downgrades Advanced Micro Devices to equal weight from overweight Morgan Stanley said investors' expectations are "too high." UBS reiterates Micron as buy UBS raised its price target on Micron to $155 per share from $125.
Persons: Truist, Morgan Stanley, TD Cowen, Bernstein, Tesla, underperform Bernstein, Elon Musk, Disney, DraftKings, Jefferies, Colleen, Wells, Raymond James, MHK, Rosenblatt, NVDA, Melius Organizations: Microsoft, New, Broadcom, UBS, Apple, Nvidia, Disney, North America Gaming, Jefferies, JPMorgan, Honeywell, Micron, Nike, ARM, Adobe, Citi, General Motors, Bank of America, Mobile Locations: Int'l Parks, Illinois, North
Amazon 's earnings report on Tuesday evening will give investors insight into two of the biggest stories on Wall Street — the resilient U.S. consumer and the artificial intelligence boom. Wall Street is generally optimistic about Amazon, as more than 90% of analysts have a buy or strong buy rating on the stock, according to LSEG. Several other tech companies, including Alphabet , have already reported strong advertising numbers for the first quarter. "We increase our Amazon advertising outlook following the impressive 2H23 performance and encouraging industry checks. On a ~55% margin, Advertising [earnings before interest and taxes] moves from $26B in FY23 to $41B in FY26," MoffettNathanson analyst Michael Morton said in an April 22 note.
Persons: Stephen Ju, Brian Pitz, Pitz, Michael Morton, Amazon's, Morton, MoffettNathanson, Ju, — CNBC's Michael Bloom Organizations: Amazon, Services, AWS, UBS, prem, BMO
Evercore ISI reiterates Nvidia as outperform Evercore ISI said investors should use any weakness in the stock to buy the dip. HSBC upgrades UPS to buy from hold HSBC said UPS is "getting back to earnings growth" following the company's earnings report. Bank of America downgrades Deckers to neutral from buy Bank of America said it sees a better risk/reward elsewhere in the firm's coverage. Bank of America reiterates IBM as buy Bank of America said it is sticking with its buy rating following earnings on Wednesday. Deutsche Bank reiterates Tesla as hold Deutsche Bank raised its price target on the stock to $136 per share from $123.
Persons: Sherwin, Williams, Bernstein, Goldman Sachs, Wells, Wells Fargo, Morgan Stanley, Ford, Needham, D.A, Davidson, ServiceNow, Tesla Organizations: Motors, GM, Nvidia, ISI, AMD, JPMorgan, Monster Beverage, Beverage, AMC, HSBC, UPS, USPS, Companies, UBS, UDR, Amazon, AWS, Bank of America, Meta, Laboratories, Manhattan Associates, IBM, Deutsche Bank Locations: 2Q24, Dearborn, Manhattan
Data compiled by The Earnings Scout shows the early reporters have had no trouble beating earnings expectations so far. Tuesday Goldman Sachs is set to report earnings before the bell, followed by a conference call at 9:30 a.m. What history shows: Goldman exceeds earnings expectations 85% of the time, data from Bespoke Investment Group shows. What history shows: Bespoke data shows PNC tops earnings expectations 75% of the time. What history shows: KeyCorp shares have fallen on four of the last five earnings days, Bespoke data shows.
Persons: Goldman Sachs, Morgan Stanley, Hugh Son, Goldman, James Gorman, Ted Pick, it's, Jefferies, Schlumberger, SLB, Wells, Roger Read Organizations: JPMorgan Chase, Bank of America, Citigroup, Wall, PNC Financial, CNBC, Investment Group, Management, LSEG, PNC, Regional Banking, JPMorgan, UST, Schlumberger Locations: Wells Fargo, Cleveland, Pittsburgh, 3Q23, SLB
Lilly's Zepbound recently entered the weight loss market, and is off to a strong start. But what's ahead for the weight loss trade in 2024? Beyond weight loss One of 2023's most pivotal events in the space was Novo Nordisk's release of top line results from its Select trial in August . In 2023, the exuberance around weight loss drugs roiled markets in many unexpected ways. The affected companies have also been very vocal in addressing how they plan to coexist with these weight loss products.
Persons: Oprah Winfrey, Eli Lilly, they've, Lilly's, Lilly's Zepbound, Andy Acker, Janus Henderson's, Lilly, Novo, FactSet, Acker, Janus, Buzz, Gregory Renza, Renza, Goldman Sachs, Chris Shibutani, Mike Kratky, Kratky, Dexcom, Leerink, Winfrey, I've, Winfrey's, Michael Bloom Organizations: Novo Nordisk, Wall Street, Wall, RBC Capital, Pfizer, Structure Therapeutics, AstraZeneca, Leerink, Nestle, Oprah Daily, Winfrey, International Locations: Friday's, Eccogene, MedTech, 3Q23
PDD's current market capitalization is nearly $190 billion, compared to Alibaba's market capitalization of $185.8 billion, LSEG data showed. PDD posted 94% growth in third-quarter revenue from a year earlier, far outpacing Alibaba's 9% growth during the same period. Analysts say that consumers increasingly looking for bargains in the face of economic uncertainties have helped boost PDD's growth domestically and internationally. "PDD's strong 3Q23 results imply both sustainable market share expansion of its domestic e-commerce business and strong growth momentum of ... Temu," they told clients. PDD "remains a standout growth stock" amid a broader base economic slowdown in China, wrote The Benchmark Company in a Nov. 29 report.
Persons: Morgan Stanley, PDD, Morgan Stanley Morgan Stanley, Eddy Wang, Kathy Zhu, Gary Yu, Temu's, Temu, Andre Chang, Alex Yao, Nancy Liu, Morningstar Morningstar, Chelsey Tam, Fawne Jiang, Long Lin Organizations: PDD Holdings, Investment, JPMorgan, Morningstar, Alibaba, PDD's Nasdaq, JPMorgan JPMorgan, China Internet, Morningstar Asia, Company Locations: China, 4Q23, U.S, Europe, Australia, New Zealand, Morningstar Morningstar Asia, Temu
Tencent Music Entertainment is convincing more people in China to pay for music. Because of the size of China's market, it's more than Spotify 's claim of 574 million monthly active users —across 184 countries and territories. TME's "music value [is] still underappreciated," Morgan Stanley analysts led by Alex Poon wrote in a late November report. "We see room for [TME] music revenue to double and profit to triple in the next three years," the Morgan Stanley analysts wrote, noting "limited risks from macro and competition." Revenue from music subscriptions is estimated to rise 38% in 2023 versus 2022, Morgan Stanley estimates.
Persons: That's, Morgan Stanley, Alex Poon, ADRs, TME, Alex Yao, Gross, JPMorgan's Yao, Tencent, — CNBC's Michael Bloom Organizations: Tencent, Entertainment, Spotify, Kugou Music, JPMorgan Locations: China, U.S, Tencent, 3Q23
Dividend-paying stocks give investors a combination of potential price appreciation and income, which can enhance total returns. Bearing that in mind, here are five attractive dividend stocks, according to Wall Street's top experts on TipRanks, a platform that ranks analysts based on their past performance. (See Sunoco Hedge Funds Trading Activity on TipRanks)VICI PropertiesOur next dividend stock is VICI Properties (VICI), a real estate investment trust. For the third quarter, the company declared a cash dividend of $0.415 per share, reflecting a 6.4% increase. For the third quarter, the company declared a cash dividend of $2.09 per share, payable on Dec. 14.
Persons: Mike Blake, Wall, Elvira Scotto, Scotto, TipRanks, Sunoco, VICI, Simon Yarmak, Yarmak, Christopher Horvers, Horvers Organizations: Reuters, Energy, Crestwood Equity Partners, RBC Capital, MGM, North American, JPMorgan, TipRanks, Walmart Locations: Encinitas , California, U.S, Crestwood, Vegas
Here are Wednesday's biggest calls on Wall Street: Piper Sandler downgrades Hershey to neutral from overweight Piper Sandler said it's concerned about rising cocoa costs for Hershey. UBS reiterates Apple as neutral UBS said its survey checks show wait times for Apple's iPhone are almost nonexistent. Piper Sandler reiterates Charles Schwab as buy Piper Sandler said the company is a "likely beneficiary of fed rate cuts." Piper Sandler reiterates Pinterest as overweight Piper Sandler raised its price target on Pinterest to $40 per share from $37 and says trends are improving. UBS reiterates Exxon as buy UBS said it's bullish heading into Exxon's corporate plan event on Dec. 6.
Persons: Piper Sandler downgrades Hershey, Piper Sandler, it's, Guggenheim, Tesla, Truist, Canaccord, Raymond James, TD Cowen, AZN, Goldman Sachs, Leslie's, Carlyle, Wells, Wells Fargo, Apple, Jefferies, Airbnb, ABNB, Cantor Fitzgerald, Microvast, Charles Schwab, SCHW, Morgan Stanley, Bernstein, PDD, Marti, Pinterest, D.A, Davidson, Estée Lauder Organizations: Hershey, UBS, Apple, " Bank of America, underperform Bank of America, AstraZeneca, downgrades, Group, Goldman, GS, Bank of America, Union, JPMorgan, Disney, Taiwan Semiconductor, Intel, Commerce, Marti Technologies, DFS, Exxon Locations: China, Europe, Japan, America, CY24, Turkey, XOM's
The economy was even hotter in the third quarter than initially believed, according to an update Wednesday from the Bureau of Economic Analysis. Increased investment and government spending drove the higher estimate. in 3Q23, up from initial estimate of +4.9% … personal consumption revised lower while business investment revised higher,” Liz Ann Sonders, chief investment strategist at Charles Schwab, posted on social media. “Ultimately, excess savings accumulated during the pandemic helped boost consumer spending and delay the onset of recession,” BCA Research wrote on Wednesday. “However, the tailwind from excess savings is ebbing.
Persons: ann, Liz Ann Sonders, Charles Schwab, Consumers, Monday’s Organizations: Gross, BEA, , Federal Reserve Bank, Atlanta’s, Research, San Francisco Fed, BCA, Federal Reserve, Fed Locations: 3Q23, U.S
Bernstein named Taiwan Semiconductor a "best idea" for 2024, raising its price target on the stock. — Alex Harring 7:01 a.m. In addition to the best-pick honor, analyst Steve Scala has an outperform rating and $86 price target. Analyst Michael Lavery downgraded the stock to neutral from overweight and slashed his price target by $40 to $200. ET: Morgan Stanley hikes PDD price target, calls stock a top pick following earnings Morgan Stanley named Chinese e-commerce name PDD Holdings a top pick following its latest quarterly earnings report.
Persons: Bernstein, Morgan Stanley, LSEG, Bank of America's Tal Liani, Morgan Stanley's Hamza Fodderwala, Alex Harring, Craig Siegenthaler, Blackstone, That's, — Alex Harring, Ken Hoexter, Hoexter, TD Cowen, Steve Scala, Scala, Jefferies, John Colantuoni, bode, Colantuoni, Neil Beveridge, Josh Silverstein, Silverstein, JMP, Baldwin, Mitch Germain, Germain doesn't, Germain, Piper Sandler, Michael Lavery, Lavery, elasticities, HSY's, Hershey, Eddy Wang, Wang, Mark Li, Li, — Fred Imbert Organizations: CNBC, Taiwan Semiconductor, Holdings, Wall, Bank of America, Bank of America's, KKR, Apollo Global Management, Pacific, Transport, AstraZeneca, pharma, Airbnb, Toyota, UBS, Exxon Mobil, Natural Resources, Exxon Mobil's, Hershey, PDD, U.S, LSEG, Commerce, PDD's U.S, Apple, Huawei Locations: Tuesday's, Ivory Coast, Ghana, 4Q23, Taiwan, China
Raymond James reiterates Nvidia as strong buy Raymond James said it's bullish heading into Nvidia earnings on Tuesday. Bernstein reiterates Tesla as underperform Bernstein said it's standing by its underperform rating on Tesla as EV growth is slowing. JPMorgan upgrades Dutch Bros to overweight from neutral JPMorgan said the coffee chain has "strong available liquidity" to continue to grow. " JPMorgan downgrades Krispy Kreme to neutral from overweight JPMorgan downgraded the stock mainly on valuation. " Melius initiates Dell as buy Melius Research initiated Dell with a buy and said it's an "inexpensive" way to play AI.
Persons: Wolfe, ChargePoint, Jefferies, it's bullish, Raymond James, it's, Stifel, Wells, Bernstein, Tesla, underperform Bernstein, BTIG, Morgan Stanley downgrades Chegg, Morgan Stanley, LT, Hewlett Packard Evercore, Goldman Sachs, Krystal, Goldman, Penn, Energizer, Sherwin, Williams, Dell, Oppenheimer, OpenAI's Sam Altman, Sam Altman Organizations: Cedar Fair, SIX, Nvidia, Resources, MNR, ARM, Acorn, Apple, JPMorgan, Deutsche Bank, Boeing, Deutsche, Bros, Brands, Hewlett, Krystal Biotech, " Bank of America, of America, ESPN, PENN Entertainment, ESPN Bet, Citi, UBS, Kosmos Energy, Bank of America, CSN, HSBC, Caterpillar, BMO, Wedbush, Research, Microsoft Locations: NVDA, China, ENR, Brazil, Australia, Vale, 2024e
Investors looking for value heading into the holiday season should look no further than the following stocks, Goldman Sachs says. The company beat on both the top and bottom line to go along with strong guidance for the fourth-quarter. TransDigm- buy rating "TDG reported F4Q23 key metrics above consensus, guided the same ones for FY2024 above consensus, announced a large special dividend & announced a new sizable acquisition. Willis Towers Watson - buy rating "We view 3Q23 results as quite supportive of our thesis around ramping talent production & cost efficiencies & we reiterate our Buy rating as we expect momentum to continue on both top & bottom line results. Trex Company- buy rating "We are also encouraged by mgmt's optimism for further top-line gains in 2024, supporting our forecast for robust FCF to allow for investments in growth opportunities and shareholder returns.
Persons: Goldman Sachs, Goldman, Ross, Willis Towers Watson, Noah Poponak, TransDigm, Poponak, Robert Cox, Willis, Cox, there's, Brett Feldman, Warner's, Feldman, shouldn't Organizations: CNBC, Warner Brothers Discovery, TransDigm, Warner Brothers, 3Q, Trex Locations: TransDigm
Cisco stock falls 12%, on pace for worst day in over a year
  + stars: | 2023-11-16 | by ( Jake Piazza | In | ) www.cnbc.com   time to read: +2 min
Cisco shares slid 12% Thursday morning, putting shares on pace for the worst day since May 19, 2022 when the stock slipped 13.7%. The fall comes a day after the company reported its quarterly earnings that beat on the top and bottom lines but gave weaker-than-expected revenue guidance for the fiscal second quarter. The company cited a slowdown in orders as customers deployed Cisco products they had purchased in recent quarters. Cisco posted adjusted earnings per share of $1.11, beating the $1.03 LSEG (formerly Refinitiv) estimate. Bank of America analysts said that "the 20% decline in product orders has driven a 6% down swing in FY24 revenue guidance, or a $3.2bn cut."
Persons: Chuck Robbins, LSEG, Goldman Sachs, CNBC's Jordan Novet, Michael Bloom Organizations: Cisco, Bank of America Locations: 3Q23
Morgan Stanley downgrades Freyr Battery to equal weight from overweight Morgan Stanley said the battery maker faces "significant challenges." Barclays upgrades Fortrea to overweight from equal weight Barclays said in its upgrade of the health contract research company that it sees improved bookings. Barclays upgrades Mosaic and Nutrien to overweight from underweight Barclays upgraded several potash and aggriculture companies and said a compelling entry point. " Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's standing by its overweight rating on shares of Tesla . Barclays reiterates Disney as equal weight Barclays said it's having trouble finding upside for Disney shares.
Persons: Wells, Needham, Docebo, Morgan Stanley downgrades Freyr, Morgan Stanley, FREY, Andrew Stanleick, Bernstein, Redburn, Goldman Sachs, Goldman, it's, Baird, Kraft Heinz, Miguel Patricio, " Roth, Marvell, Roth, Tesla, laggards, Evercore, TD Cowen, Cowen, We've Organizations: Microsoft, TAM, Deutsche Bank, Deutsche, UBS, Barclays, Mosaic, NTR, ICL, OW, UW, JPMorgan, Apple, Nvidia, Aspen Technology, Kraft, Marvell Technology, Devices, Tesla, Adobe, Disney Locations: BeautyHealth, U.S
Jefferies initiates PepsiCo as buy Jefferies called PepsiCo a defensive stock. " Jefferies initiates Procter & Gamble as buy Jefferies said in its initiation of the stock that it's a top and bottom line growth leader. Jefferies initiates Colgate-Palmolive as buy Jefferies said it sees a "reinvigorated" brand lineup for Colgate. Citi reiterates Amazon and Meta as buy Citi said it's bullish on the partnership between Amazon and Meta. Citi reiterates Eli Lilly as buy Citi said it's standing by its buy rating on the stock.
Persons: Piper Sandler, Stifel, CrowdStrike, KBW, it's, Bernstein, buybacks, Airbnb, BTIG, Raymond James, Natera, Hewlett Packard, Jefferies, Colgate, Morgan Stanley, Edward Jones, Olin, it's bullish, Truist, Citi, Eli Lilly, Lilly, Melius Organizations: UBS, Barclays, Apple, Piper, Capital Holdings, Guardant, Citi, Hewlett, PepsiCo, Pepsi, Procter, Gamble, G, Constellation Brands, Constellation, Colgate, Palmolive, Mirum Pharmaceuticals, Oracle, North America, Amazon, Social Commerce, ~$
Wolfe reiterates Nvidia as outperform Wolfe said it's getting more bullish on the stock over the next several quarters. Wolfe downgrades Occidental Petroleum to peer perform from outperform Wolfe said shares of the oil company will be range bound. Bank of America downgrades FTC Solar to underperform from buy Bank of America said it was wrong about its prior buy rating on the solar stock. Bank of America downgrades CommScope to neutral from buy Bank of America trends are worsening for the tech company. Bank of America initiates Weatherford as buy Bank of America said in its initiation of the global energy company that it's seen a "remarkable turnaround."
Persons: Stephens, Henry Schein, Stifel, it's bullish, Wolfe, it's, Freyr, BTIG, FREY, William Blair, Wells, Baird, Weatherford, Girish Saligram, Gordon Haskett, Haskett, Morgan Stanley, Jefferies, Vera Organizations: Portillo's Inc, JPMorgan, Netflix, Citi, Body Works Citi, Nvidia, Wolfe Alpha, Occidental Petroleum, Bank of America, FTC, sel, RBC, EV Locations: Illumina, Occidental, Wells Fargo, Hawaii, 3Q23, U.S
The firm upgraded shares to neutral from sell in a Wednesday note, and slightly increased its target price to $5.50 from $5. The firm upgraded the offshore drilling company to overweight from equal weight in a Thursday note and raised its price target to $106 from $84. The bank reiterated a buy rating on Disney with a $120 per share price target, or about 42% upside from Wednesday's $84.50 close. Bank of America's Jessica Reif Ehrlich also reiterated a buy rating on Disney, albeit with a $110 per share price target, which implies more than 30% upside. The bank initiated coverage of the electric vehicle giant with a reduce rating accompanied by a $146 per share price target.
Persons: Goldman Sachs, Ygal Arounian, — Brian Evans, Bud Light, Carlos Laboy, BUD, Brian Evans, EBITDA, Stephanie Yee, Parker, Banks, Parker Hannifin, Nicole DeBlase, Eddie Kim, Brett Feldman, Bank of America's Jessica Reif Ehrlich, Bob Iger's, Michael Montani, Greg Melich, — Fred Imbert, Tesla, Michael Tyndall Organizations: CNBC, Tesla, HSBC, ISI, Analysts, Citi, Anheuser, Busch InBev HSBC, Busch InBev, Middle America, InBev, BUD, JPMorgan, Montrose Environmental, Deutsche Bank, Barclays, Disney, Bank of America's Locations: China, U.S, North America, Montrose, 3Q23, EBITDA, Valaris
Here are Thursday's biggest calls on Wall Street: Goldman Sachs initiates Apellis Pharmaceuticals as buy Goldman initiated the biotech company with a buy and says it sees "continued execution." Bank of America reiterates Disney as buy Bank of America said it's standing by its buy rating after Wednesday's earnings report. Goldman Sachs reiterates Arm as overweight Goldman said it's sticking with its buy rating after the stock's earnings report on Wednesday. Goldman Sachs reiterates Instacart as buy Goldman said it's sticking with its buy rating on the grocery delivery company after Instacart's earnings report on Wednesday. Morgan Stanley reiterates Rivian as overweight Morgan Stanley said it's sticking with its overweight rating on the electric vehicle company. "
Persons: Goldman Sachs, Goldman, Tesla, WK Kellogg, Kellogg, Wolfe, Instacart, Morgan Stanley, Rivian, Eli Lilly, MRK's Keytruda, Evercore, it's bullish, Parker, Wells, it's, Hein Schumacher Organizations: Apellis Pharmaceuticals, HSBC, Tesla, Barclays, JPMorgan, Bank of America, Disney, ARM, Deutsche Bank, Deutsche, Merck, pharma, TAP, Industrial, Nvidia, Anheuser, Busch InBev, Bud, Offshore, Unilever, OW, Citi Locations: North America, Montrose
Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating on the stock after its 10-K annual report. Morgan Stanley initiated Tal Education as overweight Morgan Stanley said the China education company is defensive. Morgan Stanley names TotalEnergies a top pick Morgan Stanley named TotalEnergies a top pick and says the energy company has "resource depth and resilience." Morgan Stanley reiterates Tesla as overweight Morgan Stanley said in a note Tuesday that Tesla needs to "stop missing numbers" and execute better, but that the firm is sticking with its overweight rating. Morgan Stanley downgrades Re/Max to underweight from equal weight Morgan Stanley said in its downgrade of Re/Max that it sees too many negative catalysts for the real estate company.
Persons: Morgan Stanley, Apple, it's, Edward Jones, Hewlett Packard, PC's, D.A, Davidson, Appian, Wells, Wells Fargo, financials, Tal, EDU, TAL, TotalEnergies, TJX, Goldman Sachs, Tesla, Melius, Morgan Stanley downgrades, Max Organizations: RBC, Home, ISI, Nike, Athletic, UBS, Apple, Citi, Deutsche Bank, TAM, Hewlett, Disney, Tal Education, BP, TJX Companies, Thomson Reuters, Nasdaq, Tesla, Nvidia Locations: Ceridian, China, OW
Here are Monday's biggest calls on Wall Street: KBW upgrades Bank of America to market perform from underperform KBW upgraded the banking giant with long-term rates declining. Bank of America downgrades Paramount to underperform from buy Bank of America said the backdrop is too challenging for the media stock. Bank of America reiterates Nvidia as buy Bank of America said it's bullish on the stock heading into earnings later this month. Goldman Sachs initiates Birkenstock as buy Goldman initiated the shoe company with a buy and said Birkenstock shares are compelling. Bank of America reiterates Apple as neutral Bank of America said it's sticking with its neutral rating on shares of Apple .
Persons: KBW, Mizuho, it's, BILI, Lee jeans, it's bullish, Goldman Sachs, Goldman, EBITDA, Raymond James downgrades Bloomin, Raymond James Organizations: Bank of America, Underperform, Corp, Deutsche Bank, Deutsche, Mizuho, TAM, UBS, Amazon, Citi, Disney, " Bank of America, Paramount, Barclays, Nvidia, AMD, Dominion, Biotech, JPMorgan, HSBC, RBC, Apple, of America Locations: China, FY24E, CLX, Russia, Ukraine
These two banks just hiked their 1-year CD yield to 5.3%
  + stars: | 2023-11-03 | by ( Darla Mercado | Cfp | ) www.cnbc.com   time to read: +2 min
Marcus by Goldman Sachs and Synchrony Financial each raised the annual percentage yield on their 1-year certificates of deposit to 5.3% this past week, according to an analysis from Wells Fargo. Even if the central bank were to step back from its monetary policy stance, banks could still see pressure from higher deposit costs as they compete with money market funds and lower cost CDs reprice at higher rates. Investors hiding in cash-like instruments, including money market funds and savings accounts, face reinvestment risk if interest rates decline. Savers who want the safety of a steady rate for two years also saw yields go up for CDs at select banks this past week. Marcus by Goldman Sachs hiked its APY to 4.85% for its 2-year CD, and Discover Financial boosted its rate to 4.4%.
Persons: Marcus, Goldman Sachs, Richer, Morgan Stanley's Betsy Graseck, Michael Bloom Organizations: Federal, Synchrony, Bread, Fed, Discover Financial Locations: Wells Fargo
Here are Friday biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by Apple shares after its earnings report on Thursday. Berenberg downgrades Estee Lauder to hold from buy Berenberg downgraded the stock after its disappointing earnings report earlier this week. Morgan Stanley reiterates Carvana as underweight Morgan Stanley said it's sticking with its underweight rating on the stock after its earnings report on Thursday. " Evercore ISI downgrades Fortinet to in line from outperform Evercore downgraded the cybersecurity company after its earnings report. JPMorgan reiterates Starbucks as overweight JPMorgan said the coffee giant is "still one to buy" after its earnings report on Thursday. "
Persons: Morgan Stanley, Apple, it's, downgrades Estee Lauder, Estée Lauder, Piper Sandler, Piper, OMCL, Key, Wolfe, Mizuho, C27E, JPMorgan downgrades, Papa John's, PZZA, Raymond James, Carvana, CVNA, Redburn, JPMorgan, SBUX, Guggenheim, GNRC Organizations: Apple, DOJ, Uber, Deutsche Bank, Molson Coors, Deutsche, HSBC, Moderna, Nvidia, Mizuho, JPMorgan, JPMorgan downgrades Fox, FOX, Barclays, Retail, Evercore, billings, Guggenheim, Citi, Cedar, Flags, ~$
Here are the biggest calls on Wall Street on Wednesday: UBS reiterates Advanced Micro Devices as buy UBS said it's standing by its buy rating on the chipmaker after its earnings report on Tuesday. Goldman Sachs downgrades ZoomInfo Technologies as buy Goldman downgraded the stock after its "mixed" earnings report citing lower visibility. UBS upgrades JD.com to buy from neutral UBS said shares of the Chinese retailer are attractive. " UBS reiterates Apple as neutral UBS said its checks show Apple's iPhone wait times are lower. TD Cowen reiterates Carvana as market perform TD said it's cautious heading into the used car company's earnings report on Thursday.
Persons: it's, TD Cowen, Piper Sandler, Piper, Polestar, Goldman Sachs, Goldman, Morgan Stanley, Bernstein, Price, Cantor Fitzgerald, VinFast, Cantor, it's bullish, JD, Mizuho, Robinhood, HOOD, Carvana Organizations: UBS, Devices, EV, Technologies, Bank of America, of America, UAW, Barclays, Ford, General Motors, Meta, JPMorgan, Boeing, Goldman, NRG Energy, Guggenheim, Management, Clear Messaging, Deutsche Bank, Deutsche, Apple, BP, UW Locations: Asia, Europe, North America
Total: 25