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☆ Palantir jumps 11% to a record after announcing move to Nasdaq
▼ + stars: | 2024-11-15 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

Alex Karp, CEO of Palantir Technologies speaks during the Digital X event on September 07, 2021 in Cologne, Germany. Palantir shares continued their torrid run on Friday, soaring 11% to a record, after the developer of software for the military announced plans to transfer its listing to the Nasdaq from the New York Stock Exchange. The shares are now up more than 45% since Palantir's better-than-expected earnings report last week and have almost quadrupled in value this year. Palantir said late Thursday that it expects to begin trading on the Nasdaq on Nov. 26, under its existing ticker symbol "PLTR." Thiel's Palantir holdings have increased in value by about $3 billion since the earnings report and $2 billion since the election.

Persons: Alex Karp, Palantir, Alexander Moore, 8VC, " Moore, Moore, didn't, Maven, Trump, Peter Thiel, Donald Trump's, Thiel Organizations: Palantir Technologies, Nasdaq, New York Stock Exchange, Maven, ., Department of Defense, Trump, P Global, Argus Research Locations: Cologne, Germany

☆ Citi needs a white knight. Donald Trump's second term might provide one.
▼ + stars: | 2024-11-07 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

AdvertisementDonald Trump's presidential victory and his promise of light regulation could help relieve one of Citi's biggest problems. Wells Fargo analyst Mike Mayo called Trump's win a "regulatory game changer" in a research note. For instance, the OCC has required Citi to submit plans each quarter to ensure they are allocating enough resources to the Transformation effort. AdvertisementSince the July fines, Citi has faced mounting pressure. A few weeks later, Fraser was dogged by questions in an earnings call about the bank's regulatory fate.

Persons: hasn't, Donald Trump's, bode, Jane Fraser, —, Wells, Mike Mayo, Trump, Michael Hsu, Jerome Powell, Stephen Biggar, Sen, Elizabeth Warren, Fraser, Vivek Juneja Organizations: Citi, Service, Wednesday, Federal Reserve, Currency, Trump's, OCC, Economic, of New, Republican, Argus Research Locations: of New York

☆ Google's cloud outpaces rivals in third quarter as AI battle heats up
▼ + stars: | 2024-11-02 | by ( Jordan Novet | ) www.cnbc.com time to read: +1 min

With Wall Street laser focused on cloud computing this week, Google outpaced its rivals in growth, a key sign for investors that the internet company is gaining traction in artificial intelligence. Amazon Web Services, which remains the market leader, grew 19% to $27.45 billion, meaning it's more than twice the size of Google Cloud but expanding about half as quickly. Second-place Microsoft said revenue from Azure and other cloud services grew 33% from a year earlier. Five of the six trillion-dollar tech companies reported results this week, with AI chipmaker Nvidia as the outlier. Google reported a 17% cloud operating margin in the third quarter, after first turning a profit last year.

Persons: Sundar Pichai, Melissa Otto Organizations: Munich, Google, Web Services, Microsoft, Nvidia, Argus Research, CNBC Locations: Hof, Munich, Germany

☆ Super Micro's 44% plunge this week wipes out stock's gains for the year
▼ + stars: | 2024-11-01 | by ( Ari Levy | ) www.cnbc.com time to read: +4 min

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. The company's recent challenges date back to August, when Super Micro said it would not file its annual report on time with the SEC. Super Micro disclosed on Wednesday that Ernst & Young had resigned as its accounting firm just 17 months after taking over from Deloitte & Touche. That's up from $2.1 billion a year earlier and $1.9 billion in the same fiscal quarter of 2023. WATCH: I don't know if Super Micro is guilty or innocent, says Jim Cramer

Persons: Charles Liang, Dow Jones, Ernst, Young, Ernst & Young, Jim Cramer Organizations: Super, Computer Inc, Super Micro, Nasdaq, U.S, SEC, Hindenburg Research, Street, Department of Justice, Deloitte, Touche, CNBC, Ernst, Argus Research, Justice Department, Micro Locations: Taipei, Taiwan

☆ Big banks are bracing for losses as Americans struggle to pay off debt
▼ + stars: | 2024-10-21 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

American consumers and businesses are having a hard time paying off credit card, auto, and commercial real estate debt. Bank CEOs said on recent earnings calls that elevated prices and interest rates continue to weigh on Americans. According to Federal Reserve data, the past-due debt share for credit card, auto, and commercial real estate has recently risen to above pre-pandemic levels. That's because some loans are coming due — forcing businesses to refinance at much higher interest rates. The financial roller coaster of pandemic payments, whipsawing inflation, and high interest rates are especially affecting lower-income Americans.

Persons: —, Wells Fargo's, haven't, Bruce McClary, David Schiff, Schiff, Edmunds, Stephen Biggar, Biggar, Jane Fraser, Brian Moynihan, Charles Scharf, Wells, Jeremy Barnum, There's, I'm Organizations: Bank, Service, Federal Reserve, Business, Bank of America, JPMorgan, Citigroup, Bank of, New, Fed, National Foundation, Credit, Argus Research, Bank of America's Locations: Wells Fargo, delinquencies

Zuckerberg's reveal of Orion late last month has triggered a level of enthusiasm that's unfamiliar in the metaverse. He showed off the gadget — a pair of black, thick-framed AR glasses — to the live audience before placing it on his face. In the meantime, Meta is looking to build on the success of its second-generation Ray-Ban Meta smart glasses. The smart glasses went viral on TikTok during the holiday shopping season, and sales exceeded both companies' expectations. Meta is also opening a pop-up shop to showcase the smart glasses and to get them in front of more consumers.

Persons: Mark Zuckerberg, Manuel Orbegozo, Zuckerberg, Orion, CNBC's Julia Boorstin, Alex Heath, Pong, Ray, Meta, it's, Meta's, Oculus, Michael Abrash, Sara Nicholson, Andrew " Boz, Bosworth, who's, Joseph Bonner, Bonner, Luxottica Organizations: Meta, Reuters, Facebook, Ray, Orion, Quest, Wall, VR, Reality Labs, Labs, IDC, CNBC, . Engineers, Argus Research, EssilorLuxottica, Solutions, West Hollywood Locations: Menlo Park , California, U.S, Los Angeles, West, Southern California

☆ Meet the executive tasked with Citi's hardest challenge: getting the bank's house in order
▼ + stars: | 2024-10-09 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +18 min

For Selva, leading the Transformation is unlike any test he has faced in his three-decade career at Citi. To do so, he has to solve for Citi's decades of underinvestment in its infrastructure, which affects every business line of the bank. Under Selva, Citi was the No. Related stories"The challenge with the Transformation role is you are accountable yet not responsible," the managing director in the Transformation said. Courtesy of CitiBringing in Ryan, the bank's head of technology and business enablement, to help the bank catch up makes sense.

Persons: Jane Fraser, Anand Selva, Selva, Sen, Elizabeth Warren, We've, Fraser, Gonzalo Luchetti, Luchetti, Kathleen Martin, Martin, Mike Mayo, Tim Ryan, Mayo, Vernon Yuen, Adora Tidalgo, Anand, Jim O'Donnell, Win McNamee, Andy Sieg, Tidalgo, Phil Waxelbaum, Jeffrey Warren, Ryan, Warren, Ashutosh Nawani, Japan Mehta, Mehta, Nawani, Tom Williams, Timothy Coffey, Janney Montgomery Scott, they've, Stephen Biggar Organizations: Citigroup, Citi, Federal Reserve, Currency, OCC, Business, underperformance, BI, Citi ., Coimbatore Institute of Technology, Madurai Kamaraj University, Asia Pacific, divesting, Employees, Merrill Wealth Management, PricewaterhouseCoopers, Russell Reynolds Associates, Securities, Exchange Commission, Bloomberg, Getty, Argus Research Locations: Selva, Chennai, India, Asia, who's, Wells, Madurai, Coimbatore, China, Singapore, New York, Fraser, Europe, Ryan

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Microsoft, Wells Fargo, Disney, Apple, First Solar & more
▼ + stars: | 2024-10-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

"We reiterate our Overweight rating on the name as NVDA remains our Top Pick." JPMorgan reiterates Charles Schwab as overweight JPMorgan raised its price target on the stock to $86 per share from $78. "We are initiating coverage of Morningstar (MORN) with a Buy rating and a $390 price target. Wells Fargo reiterates Tesla as underweight Wells says it remains "skeptical" heading into Tesla's robotaxi day later this week. "We are initiating coverage of MBX Biosciences with an Overweight rating and Dec 2025 price target of $30."

Persons: Cantor Fitzgerald, Cantor, TD Cowen, Cowen, Wolfe, Wells, Bernstein, Oppenheimer, Goldman Sachs, Milton, Irma, JPMorgan, Charles Schwab, Morningstar, Redburn, Goldman, Tesla, TSLA, Key, Affirm's, it's, Morgan Stanley, it's bullish, Abbott, Susquehanna, KeyBanc Organizations: Anheuser Busch InBev, InBev, Humana, STARS, Microsoft, Disney, JPMorgan, UBS, Biotech, Legend Biotech, Barclays, Optimus, Qualcomm, Express, American Express, Netflix, Bicara Therapeutics, Abbott Labs, Howmet Aerospace, Commercial Aerospace & Defense, Bank of America, Apple, MBX Biosciences, Delta, Argus, McDonald's Corp Locations: China, Wells Fargo, F4Q17, 1H26, Tesla's

☆ Russia is still passing $2 billion worth of its oil products to the West via middlemen, think tank says
▼ + stars: | 2024-09-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The West is still taking in billions worth of Russian oil products, a new think tank analysis shows. AdvertisementRussia is still passing off billions of dollars worth of oil products to the West — a sign that the West is still struggling to throttle Moscow's war revenue with strict sanctions. CREA data shows that Russia sold $1.3 billion worth of oil to three Turkish refineries in the first half of the year. G7+ nations, meanwhile, purchased around $2 billion of oil products of Russian origin from Turkish refiners, the think tank estimated. Turkey is the last-remaining "short-haul market" for Russian oil sent from its western ports, taking in around 210,000 barrels of Russian crude a day the last month, the outlet reported.

Persons: —, It's, crimp Organizations: Service, Centre for Research, Energy, Clean, Argus Media, Bloomberg Locations: Russia, Turkey, West, Turkish, Ukraine, ., New York

☆ Russia's oil revenue has plunged as global crude prices tumble
▼ + stars: | 2024-09-16 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Russia's oil revenue has plummeted as global crude prices fall. Oil sales dropped to $1.44 billion in the week ending September 8, per data cited by Bloomberg. AdvertisementRussia's oil business has taken a hit, with the nation's crude revenue dropping to its lowest levels in seven months, according to Argus Media data cited by Bloomberg. Urals crude, Russia's flagship oil blend, has edged lower to $67.61 a barrel, down around 20% from its peak in the spring of this year. Russia is set to make even steeper oil production cuts later in 2024, as part of OPEC's goal to boost crude prices.

Persons: —, Russia's Organizations: Bloomberg, Service, Argus Media, Russia's Energy Ministry Locations: Moscow, Russia, Hungary, Asia

☆ Private jet flights are down 15% in two years as Covid-era demand wanes
▼ + stars: | 2024-08-16 | by ( Robert Frank | ) www.cnbc.com time to read: +7 min

Private jet flights fell 15% in the first half of the year compared with their peak in 2022, as the industry grapples with waning demand and a new competitive landscape for high-end travel. Despite a short boost from the Summer Olympics, with a record 713 private jet flights to Paris the last week of July, the private jet industry continues to lose altitude this travel season. Jet It, a large U.S. private jet operator, shut down last year after grounding its fleet of Phenom 300s, Gulfstream G150s and HondaJets. Private jet passengers who paid six figures for flights started facing delays and cancellations as operators couldn’t buy or lease planes fast enough. “Prices are about 20% higher than they were in 2019,” Private Jet Card Comparisons' Gollan said.

Persons: Washington's, J, David Ake, Robert Frank, Covid, Rob Wiesenthal, George Mattson, VistaJet, Thomas Flohr, Doug Gollan, ”, Jay Duckson, —, ‘, I’m, Gollan, Travis Kuhn, “ It’s, ” Gollan, Berkshire Hathaway, ” Kuhn, “ Organizations: Gulfstream, Washington's Reagan National Airport, Getty, Private, Summer, Argus International, Blade Air Mobility, Delta Air Lines, CNBC, Industry, Central Business Jets, Companies, Jefferies, Argus, Berkshire Locations: Arlington , Virginia, Paris, U.S, Covid, Argus, “

☆ Here are Wednesday's biggest analyst calls: Nvidia, Tesla, Starbucks, Chipotle, Eli Lilly, Target, TJX Companies, Coinbase and more
▼ + stars: | 2024-08-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Stifel upgrades Starbucks to buy from hold Stifel upgraded the coffee chain following the management shakeup that included a new CEO. Jefferies upgrades Sportradar to buy from hold Jefferies upgraded the Swiss global sports tech company, saying it's becoming "increasingly attractive." Morgan Stanley reiterates Target as overweight Morgan Stanley said it's sticking with its overweight rating heading into Target 's earnings next week. Berenberg reiterates Eli Lilly as buy Berenberg raised its price target on the drugmaker to $1,050 per share from $1,000. TD Cowen upgrades Ilumina to buy from hold TD Cowen sees revenue growth ahead for the biotech company.

Persons: Wolfe, PulteGroup, rais, Brian Niccol, Baird, Tesla, it's bullish, Goldman Sachs, Goldman, Elliott, Wells, Equitrans, ETRN, Jefferies, it's, SRAD, Bernstein, Chipotle, Morgan Stanley, Berenberg, Eli Lilly, Lilly, circumspection, Ross, BURL, ROST, Oppenheimer, TD Cowen, mgmt Organizations: Stifel, RBC, Johnson, underperform RBC, Elliott Management, Barclays, Nvidia, JPMorgan downgrades Emerson, JPMorgan, Deutsche Bank, Deutsche, Ball Corp, Ball Corporation, Montrose Environmental, Stock, Intuit, Citi, Palo Alto, Bank of America, TJX Companies, Argus Locations: Florida, Underperform, Swiss, Montrose, QuickBooks, Burlington, Coinbase, China, Hershey

☆ Argus Media editor: Iran nuclear deal as we know it is long gone
▼ + stars: | 2024-08-12 | 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 EmailArgus Media editor: Iran nuclear deal as we know it is long goneNader Itayim, Middle East Gulf editor at Argus Media, discusses the Joint Comprehensive Plan of Action and says "trust levels have changed" on both sides.

Persons: Nader Itayim Organizations: Argus, Argus Media Locations: Iran, Middle East Gulf

☆ Underlying trends for Amex haven't changed, says Argus Research's Stephen Biggar on Amex Q2 earnings
▼ + stars: | 2024-07-19 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUnderlying trends for Amex haven't changed, says Argus Research's Stephen Biggar on Amex Q2 earningsStephen Biggar, Argus Research director of financial institutions research, joins 'Closing Bell' to discuss American Express' second quarter earnings report.

Persons: haven't, Argus, Stephen Biggar Organizations: Argus Research, American Express

☆ Biggar: JPMorgan is in a sweet spot, but Citi has more room to run
▼ + stars: | 2024-07-12 | 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 EmailBiggar: JPMorgan is in a sweet spot, but Citi has more room to runStephen Biggar, Director of Financial Institutions Research at Argus Research, discusses earnings from JPMorgan, Wells Fargo, and Citigroup.

Persons: Stephen Biggar, Wells Organizations: Biggar, JPMorgan, Citi, Financial, Research, Argus Research, Citigroup Locations: Wells Fargo

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Netflix, Meta, Tesla, Eli Lilly, Walmart, Microsoft, Oracle & more
▼ + stars: | 2024-07-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

TD Cowen reiterates Meta as buy TD Cowen raised its price target on Meta to $600 per share from $530. Bank of America downgrades Visa & Mastercard to neutral from buy Bank of America said it sees "limited upside" for the payment stocks. Bank of America downgrades WK Kellogg to underperform from neutral Bank of America said it sees weakening industry trends for WK Kellogg. "We're initiating coverage of Bausch + Lomb (BLCO) with an Outperform rating and $19 price target." Bank of America initiates Composecure as buy Bank of America said it's bullish on shares of the metal payment card manufacturer.

Persons: Bernstein, Iris, it's bullish, Argus, Teva, Piper Sandler downgrades, Piper, Jefferies, Redburn, Goldman Sachs, Tesla, Goldman, Eli Lilly, Morgan Stanley, Needham, BTIG, it's, TD Cowen, Meta, WK Kellogg, Cobra Kai, Truist, Nomura, Raymond James, Bausch Organizations: Iris Energy, Walmart, Fox Robotics, Spotify, Oracle, Barclays, Microsoft, Citi, Quest, Bank of America, MKS, Southwest Citi, Southwest Airlines, Amazon, YouTube, Meta, " Bank of America, Visa, Mastercard, of America, SNAP, Netflix, Apple, Nvidia Locations: Mounjaro, Alaska, Southwest, underperform

☆ Stocks making the biggest moves midday: Intuit, AMD, LegalZoom.com, Baidu and more
▼ + stars: | 2024-07-10 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

In terms of revenue, LegalZoom now expects between $675 million and $685 million for the full year. Taiwan Semiconductor Manufacturing — The chip stock advanced 3% following the company's revenue results . Though the company's reported T$207.87 billion for the month of June was a 9.5% decrease from last month, it was a 32.9% increase from the year-ago period. For January through June this year, the company reported T$1.27 trillion, which is a 28% increase from the same period last year. Carvana — Shares of the online car seller added 5% after Needham upgraded the stock to buy from hold.

Persons: LegalZoom.com, Dan Wernikoff, Jeffrey Stibel, LegalZoom, Carvana, Needham, robotaxi, —, Alex Harring, Fred Imbert, Samantha Subin, Pia Singh, Michelle Fox, Darla Mercado Organizations: Intuit —, Intuit, Taiwan Semiconductor Manufacturing, Baidu, Street Journal, Shanghai, Mastercard, Visa, Bank of America, Manchester United, BioSciences, Analysts, Illumina, Teva Pharmaceutical Industries, Argus, UBS, Science, AMD, Silo Locations: China, Shanghai, Hoka, Europe

☆ Iran's new president may be a reformist, but change remains distant
▼ + stars: | 2024-07-09 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

Newly-elected Iranian President Masoud Pezeshkian visits to the shrine of the Islamic Republic's founder Ayatollah Ruhollah Khomeini in Tehran, Iran on July 06, 2024. Fatemeh Bahrami | Anadolu | Getty ImagesIran on Friday elected its first "reformist" president in 20 years, signaling many voters' rejection of hardline conservative policies amid low turnout of just 49%, according to official figures. Iran's sole reformist candidate Masoud Pezeshkian and ultraconservative Saeed Jalili are set to go to runoffs after securing the highest number of votes in Iran's presidential election, the interior ministry said. "This is why many Iranians have lost hope in bringing about change through the ballot boxes and are boycotting elections." "The core structure of Iran's theocratic regime, where a Supreme Leader's authority eclipses that of any president, will remain steadfastly intact… In essence, Iran's theocracy is designed to resist meaningful change."

Persons: Masoud Pezeshkian, Ruhollah Khomeini, Fatemeh, Masoud, Ibrahim Raisi, Sina, Toossi, Massoud Pezeshkian, Majid Saeedi, Mohammad Khatami, Ayatollah Ali Khamenei, Nader Itayim, Khamenei, Itayim, Mohammad Bagher Ghalibaf, Amirhossein Ghazizadeh, Hashemi Alireza Zakani, Saeed Jalili, Mostafa Pourmohammadi, Iran's, ultraconservative Saeed Jalili, Atta Kenare, Ben Taleblu, Pezeshkhian, Mahsa Amini, Amini, Mahsa, Ozan Kose, Pezeshkian's Organizations: Anadolu, Getty, Center for International, CNBC, Guardian Council, Argus Media, Vehicles, Afp, Foundation for Defense of Democracies, AFP, for Human Rights, Trump Locations: Tehran, Iran, Afrasiabi, Islamic Republic, Mideast, Washington, Pezeshkian, Kurdish Iranian, Iranian, Istanbul

☆ The U.S. needs more of this critical metal — and China owns 80% of its supply chain
▼ + stars: | 2024-07-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Picture Alliance | Picture Alliance | Getty ImagesBEIJING — China dominates the supply chain for many of the world's critical minerals, but so far it's held off on sweeping restrictions on at least one: tungsten. Almonty claims the forthcoming mine in South Korea has the potential to produce 50% of the world's ex-China tungsten supply. "We see in the U.S., in Europe, they ask their suppliers for a China-free supply chain," said Michael Dornhofer, founder of metals consulting firm Independent Supply Business Partner. watch nowBack in January, U.S.-based research firm Macro Ops said: "We're approaching an inflection point in tungsten supply. Other non-Chinese companies in the tungsten supply chain are going to South Korea.

Persons: Lewis Black, Biden, Black, Yadong, Almonty, Michael Dornhofer, Dornhofer, Brandon Beylo, he's, Mark Seddon, Warren Buffett Organizations: Saxony Minerals, ., Getty, Taiwan Semiconductor Manufacturing Company, Nvidia, Almonty Industries, China's Ministry of Commerce, Independent Supply, Energy, Security Holdings, European, Chinese Communist Party, U.S . Bureau of Industry, Security, Department of Commerce, CNBC, Argus, IMC, IMC Group Locations: Germany, BEIJING, China, Canada, South Korea, U.S, Europe, United States, South Korea China, North Korea, Africa, Myanmar, Daegu

☆ 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

☆ Natural gas will have a 'huge impact' on the energy transition. Play the trend with these pipeline stocks
▼ + stars: | 2024-07-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Investors who want to support the energy transition should consider backing natural gas as a fuel that can "make a really huge impact" by replacing coal, according to a top analyst at asset manager PGIM. "Natural gas is very complementary to them, it is highly dispatchable and it is very low cost." The U.S. is the largest natural gas exporter in the world, according to the Energy Information Administration. "Pipelines offer a very different kind of risk/reward proposition for an investor than, say, a natural gas producer who is very exposed to the volatility of the natural gas price," Antia said. "When it comes to LNG infrastructure, Cheniere is a company that provides the infrastructure necessary to liquefy as well as re-gasifying natural gas," Antia said.

Persons: PGIM, Shehriyar Antia, Antia, Kinder Morgan, Williams Cos, Williams, Kinder Organizations: CNBC, Energy Information Administration, EQT Corp, Williams Companies, Wall Street, Argus, Energy Locations: Wells, China, India

☆ This pipeline stock could surge 17% on rising natural gas prices and coal phaseout, Argus says
▼ + stars: | 2024-06-21 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Pipeline operator Williams Companies offers a way for investors to play rising natural gas prices as demand grows due to the transition away from coal, according to the research firm Argus. "Our upgrade largely reflects our more bullish stance on natural gas prices," analyst Bill Selesky told clients in a research note Thursday. Demand for natural gas should rise due to hot weather conditions and the transition from coal to gas, while supply is constrained and inventories are low, the analyst said. The pipeline operator has rallied as natural gas prices have bounced back 70% over the past two months. "The power-hungry world we live in is rapidly turning to natural gas to generate this power," Armstrong said.

Persons: Williams, Bill Selesky, Selesky, Jenny Harrington, CNBC's, Harrington, Wells, Alan Armstrong, Armstrong Organizations: Williams Companies, Argus, U.S, Energy Information Administration, Williams, Asset Management, Street Locations: U.S, midstream, Tuesday's, Wells

☆ These are Wall Street's favorite S&P 500 picks for the second half
▼ + stars: | 2024-06-19 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

The second half of the year is around the corner, and some stocks are primed to outperform, according to a screen of Wall Street analysts' favorite picks. The following names have 20% or more upside to their analyst price targets and are already in the green for 2024 — indicating their price targets are elevated not just due to a drop in share price. To note, the price targets are 12-month estimates. Out of the four analysts covering the stock, three rate it a buy or a strong buy. Around three-quarters of analysts covering the stock have a strong buy or buy rating.

Persons: Goldman Sachs, Warren Buffet's Berkshire Hathaway, Guggenheim, Hess Organizations: Street, Nvidia, ISI, Citi, CNBC Pro, CNBC, Argus, Disney, Coterra, UBS, Chevron, Exxon Mobil Locations: Warren, Chevron, Guyana

☆ Iran's upcoming snap elections: A battle of anti-western hardliners
▼ + stars: | 2024-06-17 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

Iranian Leader Press Office | Anadolu | Getty ImagesIran is holding snap elections on June 28 following the sudden death of former Iranian President Ibrahim Raisi in a helicopter crash. The election will take place against the backdrop of a battered Iranian economy, widespread popular discontent and crackdowns on dissent. He described Iran's supreme leader Ayatollah Khamenei⁠ as the country's "only 'voter' of significance." Iran's Presidency | WANA | Via ReutersBut with Sunday's announcement of the approved candidates, "those hopes were largely dashed," he said. It comes after turnout for Iran's parliamentary election in March was also the lowest for a legislative contest in the Islamic Republic's history at 41%.

Persons: Ali Khamenei, Ebrahim Raisi, Hossein Amir, Ibrahim Raisi, crackdowns, Behnam ben Taleblu, Ayatollah Khamenei⁠, ben Taleblu, Nader Itayim, it's, Raisi, Khamenei, Mahsa Amini, Sanam Vakil, Itayim, ATTA KENARE Organizations: Iran's, Tehran University, Iranian, Press, Anadolu, Getty, U.S, Guardian Council, Council, Foundation for Defense of Democracies, CNBC, Western, Argus Media, Reuters, Union for Secular Republic, Human Rights, Chatham House, Islamic Locations: Tehran, Iran, Israel, Mideast, Iran's, Islamic Republic, Kurdish Iranian, East, North Africa

☆ Opportunity for India is extraordinary, Melbourne Airport CEO says
▼ + stars: | 2024-06-06 | 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 EmailOpportunity for India is extraordinary, Melbourne Airport CEO saysLorie Argus, CEO of Melbourne Airport, says "since post-Covid, we've seen 330% growth on direct services between Melbourne and India."

Persons: Lorie Argus, we've Organizations: Opportunity, Melbourne Airport Locations: India, Melbourne

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