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Discovery — Shares dropped 10% after the media conglomerate posted disappointing fourth-quarter results and failed to give 2024 free cash flow guidance. Discovery reported a loss of 16 cents per share on revenue of $10.28 billion. Analysts polled by LSEG, formerly known as Refinitiv, had expected a per-share loss of 7 cents on revenue of $10.35 billion. Carvana — Shares of the used car marketplace jumped 34% after the struggling company posted its first-ever annual profit. Insulet — Shares slipped 4.5% after the company reported a disappointing revenue forecast for the first quarter.
Persons: DraftKings, Rivian, Bloomin, overshadowing, Nio, LSEG, Carvana, William Blair, Raymond James, Nextdoor, Nirav Tolia, Insulet, FactSet, EOG, , Alex Harring, Samantha Subin, Brian Evans, Lisa Kailai Han, Jesse Pound, Michelle Fox, Sarah Min Organizations: Warner Bros, , Discovery, LSEG, Barclays, UBS, Holdings, EV, JPMorgan Locations: U.S
Here are Friday's biggest calls on Wall Street: UBS double-downgrades Rivian The firm said to sell the electric vehicle maker's stock, joining a growing group of concerned analysts following the company's earnings report. Raymond James upgrades Carvana The investment bank moved Carvana to market perform from underperform following the fourth-quarter earnings results. Guggenheim initiates Pfizer The firm opened coverage of the biopharmaceutical stock with a buy rating and $36 price target. " Rosenblatt initiates Adeia The firm began coverage with a buy rating and $15 price target. Roth MKM initiates CPI Card Group Roth MKM started coverage of the financial technology stock with a buy rating and $40 price target.
Persons: Ross, ROST, Raymond James, EBITDA, 4Q23, Guggenheim, ATNI, Morgan Stanley, Brighthouse, Rosenblatt, Roth MKM, Fred Imbert Organizations: UBS, Barclays, CNBC, Citi, Fox, JV, Ross, Price, Pfizer, DRG, Equitable, JPMorgan, Traction, JPMorgan downgrades Locations: 1Q24, Xperi, 4Q22
This would likely push the Federal funds target range to between 4.5% to 4.75% by the end of this year, he said. Take a look at the stocks Barclays thinks are best-positioned for lower rates later this year. Darden Restaurants is one of the consumer names Barclays believes can outperform when the Fed loosens rates. Clothing retailer Gap is another stock Barclays believes will be a rate-cut cycle winner. GPS YTD mountain The Gap shares in 2024 Agribusiness company Bunge also made the cut.
Persons: Terrence Malone, Malone, Jeff Bernstein, Bernstein, Jason Goldberg, Goldberg, Adrienne Yih, Bunge, Ben Theurer, , Michael Bloom Organizations: Barclays, Darden, Olive Garden, LongHorn, Fifth, Bancorp, Old Navy, Banana, Analysts, Bunge Locations: Olive, Banana Republic
Live Nation Entertainment — Shares of the entertainment platform popped nearly 5% following a fourth-quarter revenue beat. On the other hand, however, the company reported fourth-quarter earnings and revenue figures that surprised to the upside. Carvana — Shares of the used car marketplace surged 33% in premarket trading after the struggling company posted its first-ever annual profit. Quarterly profit and revenue results were weaker than analysts expected, although the company reported strong fourth-quarter earnings than analysts anticipated. Penumbra — The medical device maker fell more than 7% on the back of mixed fourth-quarter results and lackluster full-year guidance.
Persons: LSEG, overshadowing, Insulet, Carvana, William Blair, Raymond James, MercadoLibre, Jason Bazinet, Penumbra, DraftKings, — CNBC's Michelle Fox, Hakyung Kim, Tanaya Macheel, Sarah Min, Jesse Pound, Samantha Subin Organizations: Intuit, Revenue, Holdings, FactSet, UBS, Fox, Citi, ESPN, Warner Bros, JV, JPMorgan, Barclays, Discovery
Barclays has crowned DraftKings as a stock worth buying. Analyst Brandt Montour upgraded the sports betting stock to overweight from equal weight and upped his price target by $9 to $50. That comes as sports betting shows "staying power" in the everyday life of American sports viewers, he added. Meanwhile, he said the 30% market share of DraftKings' online sports betting business should be defensible. And it's part of the reason why the company has been able to surpass Wall Street expectations and raise forward guidance over recent quarters.
Persons: Brandt Montour, Montour, DraftKings Organizations: Barclays, DraftKings
Analysts are growing cautious on Rivian shares as its struggles are worsened by weak electric vehicle demand. RBC has a $15 per share price target, which is roughly 3% below Wednesday's close of $15.39. RIVN 1D mountain Rivian stock. Narayan said legacy automakers are in a better position to navigate the current slowdown in EV demand, and said he expects Rivian stock to "to come under pressure." Langan lowered his price target to $14 per share from $18.
Persons: Rivian, Tom Narayan, expected.It, Narayan, FactSet, Wells, Colin M, Langan, Goldman Sachs, Mark Delaney, Delaney, — CNBC's Michael Bloom Organizations: RBC Capital, RBC, Barclays Locations: Wednesday's
In the Nvidia halo, Jim Cramer likes ServiceNow , and of the semiconductor capital equipment makers he says Lam Research is the best. Looking to pick up PANW: Jim Cramer says the Palo Alto Networks sell-off is still overdone by about 25 points. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Eaton, ServiceNow, Lam, Ed Breen's, Cramer, Breen, Jim Cramer's, Jim, David Paul Morris Organizations: CNBC, Nvidia, Nasdaq, Broadcom, Microsoft, Lam Research, Palo Alto Networks, DuPont, Barclays Industrials, Coterra Energy, Intuit, Warner Bros Discovery, Jim Cramer's Charitable, Bloomberg, Getty Locations: We're, DuPont, Santa Clara , California
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBarclays upgrades Norfolk Southern to overweight after activism activity from AncoraBrandon Oglenski, Barclays analyst, joins 'Money Movers' to discuss the company's upgrade of Norfolk Southern, how difficult it is to improve efficiency when under the safety microscope, and the changes activist investors are pushing for.
Persons: Ancora Brandon Oglenski Organizations: Barclays, Norfolk Locations: Ancora, Norfolk Southern
"Downgrade to Reduce (from Hold) while retaining target price of USD323 on valuation and lack of near-term catalysts." JPMorgan reiterates Amazon as a top idea JPMorgan said it sees further share gains for shares of Amazon. Redburn Atlantic Equities reiterates Microsoft as buy Redburn said it sees Microsoft's Azure gaining market share in cloud. Wells Fargo reiterates Target as overweight Wells raised its price target on the stock to $165 per share from $155. "We are initiating coverage of ChargePoint Holdings, Inc. with a Buy rating and a $4.25 Price Target.
Persons: Piper Sandler, Piper, Redburn, Cantor Fitzgerald, Cantor, Wells, Morgan Stanley, Dell, it's, DELL, Jefferies, Stifel, Goldman Sachs, Goldman, SEDG Organizations: Street, HSBC downgrades, HSBC, Home, JPMorgan, Palo Alto Networks, billings, Barclays, Norfolk, Walgreens Boots Alliance, Walgreens, Microsoft, Sabre Corporation, Dell, EV, ChargePoint Holdings, Inc, UBS, HP
SolarEdge Technologies — Shares dropped more than 20% after the company posted mixed quarterly results. However, revenue guidance for the first quarter was well below analyst expectations . Teladoc — Shares dropped 20% the morning after the online health-care company posted worse-than-expected revenue and guidance. The company posted a loss of 17 cents per share, smaller than the 21-cent figure anticipated by analysts surveyed. Palo Alto Networks topped earnings and revenue expectations for the recent quarter, but said it anticipates slower growth for the full year.
Persons: Teladoc, RingCentral, LSEG, Brandon Oglenski, Alan Shaw, HSBC's, Noel Quinn, Wingstop, — CNBC's Michelle Fox, Alexander Harring, Fred Imbert, Sarah Min, Jesse Pound, Samantha Subin Organizations: Nvidia, SolarEdge, LSEG, Palo Alto Networks, Alto Networks, Toll, JPMorgan, Norfolk Southern, Barclays, Amazon, Dow Jones, Walgreens, Alliance, HSBC —, Wall Street, FactSet Locations: Palo, billings
A railroad stock and a fast food giant were in focus Wednesday among early analyst calls. Barclays raised its rating on Norfolk Southern to a buy-equivalent rating, and his new price target calls for about 20% upside. The firm downgraded the retailer to reduce from hold and maintained a $323 per share price target. — Brian Evans 5:44 a.m.: Barclays upgrades Norfolk Southern Norfolk Southern could see a shake-up to its leadership, and Barclays thinks these changes could lead to strong gains for the stock. He also hiked his price price target to $305 from $255.
Persons: SolarEdge's, Morgan Stanley, Andrew Percoco, Goldman Sachs, Brian Lee, SEDG, Vikram Bagri said.Bagri, — Brian Evans, Piper Sandler, Piper Sandler's, Rob D, Owens, Brian Evans, Daniela Bretthauer, John Ivankoe, Brandon Oglenski, Ancora, It's, Alan Shaw, Oglenski, Fred Imbert Organizations: CNBC, Barclays, Norfolk, JPMorgan, Palo Alto Networks, billings, Palo Alto, HSBC downgrades Home, Depot, HSBC, Home Depot, JPMorgan downgrades, Norfolk Southern, NSC Locations: Wendy's, Norfolk Southern Norfolk Southern, Norfolk Southern, Norfolk
SolarEdge might not recover until early 2025 as the company remains saddled with inventory in Europe and faces weak demand in the U.S., signs that the residential solar market in particular is struggling to bounce back in the face of high interest rates. Citi said SolarEdge remains a high-risk stock with the investment bank slashing its price target by $6 to $83. Cho rates SolarEdge as underweight with a price target of $50, implying 40% downside from Tuesday's close. SolarEdge CEO Lando did provide some brighter news Tuesday, forecasting that the European residential solar sector will bottom in the current quarter and improve thereafter. Investors might receive further insight on where the solar market goes from here when residential installers Sunrun and Sunnova report earnings after the bell Wednesday.
Persons: Zvi Lando, Goldman Sachs, Brian Lee, SolarEdge, Vikram Bagri, Bagri, Ronen Faier, Christine Cho, Cho, Enphase, Badri Kothandaraman, Kothandaraman, Lando, — CNBC's Michael Bloom Organizations: Citi, Barclays, CNBC, Investors Locations: Europe, U.S
Some Wall Street analysts are bracing for a pullback in Nvidia shares after the chipmaker reports fiscal fourth quarter results after the bell Wednesday. "We reiterate Buy/top pick ahead of NVDA Feb-21 earnings but won't be surprised to see a notable but brief pullback after the recent parabolic run-up in the stock," wrote Bank of America analyst Vivek Arya in a recent note. Nvidia shares slid more than 4% during Tuesday's session, but they have surged 40% in 2024. "Hence, we see limited room for further earnings upside in 2024 relative to the sales and earnings surprise that we saw in 2023." Even if Nvidia tops estimates, some on Wall Street anticipate a post-earnings decline akin to what's occurred during previous prints.
Persons: NVDA, Vivek Arya, Frank Lee, Tom O'Malley, Morgan Stanley's Joseph Moore, haven't, Rosenblatt, Raymond James, Srini Pajjuri, O'Malley, Timothy Arcuri, Evercore ISI's Julian Emanuel, — CNBC's Michael Bloom Organizations: Nvidia, Bank of America, HSBC, Barclays, UBS
First-quarter revenue is expected to be $175 million to $215 million, far below the $406 million forecast. Teladoc posted $661 million in revenue, below the $671 million consensus forecast from LSEG, formerly known as Refinitiv. Wingstop — The restaurant chain slipped 4% despite reporting fourth-quarter earnings and revenue that topped analysts' estimates. However, total revenue growth came down for the fourth consecutive quarter. reported fourth-quarter earnings of $1.22 per share, more than the consensus estimate from StreetAccount of earnings of 96 cents per share.
Persons: SolarEdge, Teladoc, Alan Shaw, , Dow, Wingstop,, CNBC's Hakyung Kim, Michelle Fox, Lisa Kailai Han, Jesse Pound, Samantha Subin, Yun Li, Sarah Min Organizations: Nvidia, Wall, Palo Alto Networks, Toll, Norfolk Southern, Barclays, Walgreen Boots, Dow Jones, Walgreens, Alliance, Dow Jones Industrial, Walgreens Boots Alliance, HSBC —, HSBC, Bank of Communications, Garmin —, Garmin Locations: Palo, billings, LSEG, U.S, China
Nvidia set to report fourth-quarter earnings after the bell
  + stars: | 2024-02-21 | by ( Kif Leswing | )   time to read: +2 min
Nvidia is scheduled to announce fiscal fourth-quarter earnings after the bell Wednesday in a highly anticipated report that will give Wall Street a sense of how long the AI boom can last. Nvidia has to meet elevated expectations stoked by investor appetite for AI companies. Investors want to hear from Nvidia CEO Jensen Huang about how long these stratospheric growth rates can last. In the current quarter, Wall Street analysts expect a 208% rate of growth to about $22.17 billion in sales. But the focus Wednesday will remain primarily on its AI GPUs, which make up more than 80% of Nvidia sales.
Persons: Jensen Huang, D.A, Davidson, Gil Luria, Thomas O'Malley Organizations: Nvidia, Microsoft, Google, Wall Street, Barclays
Here are Tuesday's biggest calls on Wall Street: Morgan Stanley downgrades Oatly to equal weight from overweight Morgan Stanley resumed coverage of the oats company and said it sees too many negative catalysts. " Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with Tesla despite a slew of negative data points in a recent investor survey. Morgan Stanley reiterates Nvidia as overweight Morgan Stanley said it's standing by Nvidia heading into earnings later this week. Morgan Stanley initiates CG Oncology as buy Morgan Stanley said shares of the bladder cancer company are "compelling." "We initiate coverage on Morgan Stanley Direct Lending with a Buy rating and $23.50 PT.
Persons: Morgan Stanley downgrades Oatly, Morgan Stanley, Tesla, Bernstein, Siri, it's, Disney, Ingersoll Rand, Rosenblatt, MSCI's, Goldman Sachs, Wolfe, Piper Sandler, Riley, Grainger, Northcoast, JPMorgan downgrades Holley Organizations: Apple, Nvidia, Disney, RBC, Aerospace, BAE Systems, Caterpillar, SMCI, Deutsche Bank, JetBlue, Alaska Air, ASM, Health, BrightSpring Health, Brunswick Corporation, Barclays, JPMorgan, Mizuho, Oncology, UBS, Morgan, Fund, Seaport, Booking Holdings, " Bank of America, AIG, Bank of America, General Insurance Locations: Silicon Valley, Alaska, Brunswick, MIBS, Texas, Europe, Asia
European stocks ended the day slightly lower on Tuesday as sentiment struggled to pick up in global markets. Mining stocks fell 1.84%, as tech dropped 1.7%, while chemicals jumped 2.5%. Asia-Pacific markets fell Tuesday, as investors parsed the Chinese central bank's decisions on key lending rates. In the U.S., stocks were lower as the market came off its first losing week in more than a month. U.S. markets were closed Monday for the Presidents Day holiday.
Organizations: Barclays, U.S . Federal Locations: Asia, Pacific, U.S
Jensen Huang, CEO of Nvidia, arrives for the Inaugural AI Insight Forum in the Russell Building on Capitol Hill on Sept. 13, 2023. Nvidia's stock price has soared fivefold since the end of 2022, as demand has skyrocketed for its graphics processing units that sit at the heart of the artificial intelligence boom. Nvidia's chips, such as the H100, are used by AI developers to create cutting-edge models like the ones OpenAI used to develop ChatGPT. The company's market cap climbed to about $1.8 trillion last week, surpassing Alphabet and Amazon and now trailing only Microsoft and Apple . "NVDA's stock appreciation has been parabolic," analysts at Bank of America wrote in a report Thursday.
Persons: Jensen Huang, Davidson, Gil Luria, Luria, Thomas O'Malley, O'Malley, There's, Ben Reitzes Organizations: Nvidia, Investors, Microsoft, Apple, Bank of America, Google, Barclays, Taiwan Semiconductor Manufacturing Company, Melius Locations: FactSet
Its price target of $4,380 suggests nearly 18% upside from Friday's close. "We expect numbers to reset lower (again) with the downward revision a negative catalyst for the multiple, and the margin story likely being pushed out to 2025," wrote analyst Christian Carlino. Analyst Anthony Powell accompanied the move by raising his price target to $204 from $194, implying a potential 15% rally for the stock. The investment firm upgraded the airline stock to market-perform from underperform, boosting its price target to $32 from $26. His price target of $338 per share implies upside of just 5% from Friday's close.
Persons: Bernstein, Evercore, Piper Sandler, Brian Mullan, Mullan, — Jesse Pound, Aaron Kessler, — Michelle Fox, JPMorgan downgrades Holley, Holley, Christian Carlino, Carlino, HLLY, hasn't, — Lisa Kailai Han, AvalonBay, Anthony Powell, Powell, AVB, Lisa Kailai Han, Joshua Shanker, Morgan Stanley, bullish Tesla, Tesla, Adam Jonas, Jonas, Russell Quelch, Quelch, MSCI, Arun Viswanathan, Viswanathan, Rosenblatt, Hans Mosesmann, Mosesmann, Michael Linenberg, Linenberg, David Vernon, David Raso, Raso, Assuredness, Fred Imbert, ~$ ~$ Organizations: CNBC, Airlines, Southwest Airlines, Deutsche Bank, JetBlue, Caterpillar, Foods, . Restaurant, Seaport Research, Booking Holdings Seaport Research Partners, Booking Holdings, JPMorgan, Barclays, Bank of America, AIG, of America, Tesla Network, RBC, Ball Corporation, Markets, Ball Corp, Aerospace, BAE Systems, Ball, Micro Computer, Super Micro Computer, Micro, ASM, Spirit Airlines, Bernstein, Spirit, Boeing Max, ISI, CAT Locations: Southwest, Friday's
LONDON — Barclays on Tuesday reported a fourth-quarter net loss of £111 million ($139.8 million) as the British lender announced an extensive strategic overhaul, boosting its shares more than 8.6% through the day. For the full year, net attributable profit came to £4.27 billion, down from £5.023 billion in 2022 and below a consensus forecast of £4.59 billion. Credit impairment charges were £552 million, up from £498 million in the fourth quarter of 2022. The business will now be divided into five operating divisions, separating the corporate and investment bank to form: Barclays U.K., Barclays U.K. Corporate Bank, Barclays Private Bank and Wealth Management, Barclays Investment Bank and Barclays U.S. Consumer Bank. Barclays is targeting total gross cost savings of £2 billion and an RoTE of greater than 12% by 2026.
Persons: C.S, Venkatakrishnan, Mariva Rivas, DBRS Morningstar, Rivas Organizations: Citigroup Inc, State Street Corp, Barclays Plc, HSBC Holdings Plc, LONDON, Barclays, Reuters, Momentum, Corporate Bank, Barclays Private Bank, Wealth Management, Barclays Investment Bank, Barclays U.S . Consumer Bank, CNBC, U.S Locations: Wharf
Semiconductor stocks — Popular semiconductor stocks declined during midday trading, with Nvidia dropping more than 6% ahead of its Wednesday print. Walmart — Shares climbed more than 3% and notched a new all-time high on Tuesday following the retailer's earnings report . Discover Financial — Shares of the credit card issuer soared 14% after it agreed to be acquired by Capital One Financial in a $35.3 billion all-stock deal. The Wall Street firm said investors should take some profits after the stock rallied more than 25% over the past year. Medtronic — Shares advanced 2.5% after the medical device company surpassed Wall Street estimates for both top and bottom lines in its fiscal third quarter.
Persons: Rosenblatt, Vizio, Bernstein, Medtronic, Piper Sandler, Yun Li, Alex Harring, Jesse Pound, Tanaya, Hakyung Kim, Brian Evans Organizations: Semiconductor, Nvidia, Computer, Micro Devices, Marvell Technology, Walmart, Discover, Capital, Caterpillar —, Depot, Barclays — U.S, Barclays, Alaska Air, Southwest Airlines, Deutsche Bank, Wall, FactSet, Foods, Arm Holdings Locations: U.S, British
High interest rates squeeze companies of all sizes, but that’s especially the case for smaller firms, unlike large companies better equipped to weather the storm. Before the Bell: How do the effects of higher-for-longer interest rates on companies vary by size? I think it might be a stretch to say that M&A activity picks up because of higher interest rates, so instead, it’s that if good businesses are beginning to suffer because of higher interest rates, then they might be more likely to be a target. Gas prices always rise as winter winds down because demand increases and gas stations must switch over to more expensive summer fuel. No matter the cause, rising gas prices are bad news for consumers already frustrated by the cost of living.
Persons: It’s, Bell, Lauren Goodwin, Matt Egan, , Patrick De Haan, doesn’t, ” Read, Raphael Bostic, Michelle Bowman, Philip Jefferson, Patrick Harker, Lisa Cook, Neel Kashkari, Christopher Waller Organizations: CNN Business, Bell, DC CNN, Federal Reserve, New York Life Investments, AAA, , HSBC, Walmart, Home Depot, Barclays, Caesars Entertainment, Nvidia, Rivian, Fidelity, Marriott, Intuit, Pacific Gas & Electric, Global, Chicago Fed, US Labor Department, National Association of Realtors, Warner Bros ., Icahn Enterprises Locations: Washington, Wingstop, United States
A hotter-than-expected consumer price index on Tuesday sent stocks reeling, with the Dow posting its biggest drop in a year. Stocks bounced back over the next two days, helped by a softer retail sales report , only to slump again on Friday's hot producer price index for January. As we said this week, we're not overly concerned with the hotter-than-expected inflationary readings. Earnings season picks back up for the Club next week, with four holdings set to report quarterly results. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Wall, Stocks, we're, Palo, Fortinet, BCH's Bausch, Management doesn't, Dana, Bausch, Dr Pepper, Diana Shipping, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Walid Berrazeg Organizations: Dow Jones Industrial, Nasdaq, Dow, Federal Reserve, Club, Palo Alto, Palo, billings, Nvidia, Amazon, Microsoft, Bausch Health, Coterra Energy, Management, NYSE, Walmart, Axsome Therapeutics, Barclays Bank, Armstrong World Industries, Ceragon Networks, Tri Pointe Homes, Dana Incorporated, DigitalBridge, Oil States International, Systems, Allegion, CenterPoint Energy, Equitrans Midstream Corporation, Expeditors International of Washington, Alto Networks, SolarEdge Technologies, Enovix Corporation, Caesars Entertainment, Diamondback Energy, Toll, Ternium S.A, Celanese Corp, Chesapeake Energy, CVR Energy, Reserve, Vertiv Holdings Co, Properties Trust, Devices, HSBC Holdings plc, HSBC, Lomb, Sinclair Corporation, Pagaya Technologies, Gibraltar Industries, Garmin, NVIDIA, Rivian Automotive, Sunnova Energy International, Bros, Apache, Oil, Suncor Energy, Co, FNF, Sciences, Coeur D'Alene Mines,, Joby Aviation, Resources, Alamos, Jackson, Nutrien, NTR, Pan, Sm Energy Company, Health, Newmont, Nikola Corporation, Cheniere Energy, Fiverr, Natural Resources, Point Credit, Lantheus Holdings, Builders, Grab Holdings, NICE, Dominion Energy, Harmony Biosciences Holdings, Teck Resources Limited, Intellia Therapeutics, Energy, Booking Holdings, Intuit, Semiconductor, Nation Entertainment, Vale S.A, Rocket Companies, Warner Bros ., AerCap Holdings, Natural Holdings, Calumet Specialty Products Partners, Frontier Communications, Jim Cramer's Charitable, CNBC, Lightrocket, Getty Locations: billings, Palo Alto, China, Xifaxan, Tri Pointe, Avista, Gibraltar, Coeur D'Alene, Pan American, Teck, Vale
Here are Friday's biggest calls on Wall Street: Bank of America reiterates Meta as buy Bank of America said it's bullish on Meta adding the Broadcom CEO to its board of directors. Bank of America reiterates Nvidia as buy Bank of America said it's standing by the stock heading into earnings next week but that a pullback is possible. Baird upgrades UPS to outperform from neutral Baird said in its upgrade of UPS that the risk/reward is too attractive to ignore. Bank of America downgrades Dropbox to underperform from buy Bank of America said the "bull thesis has played out" for the data storage company. Bank of America upgrades Cellebrite to buy from neutral Bank of America said it sees business trends stabilizing for the digital intelligence company.
Persons: it's, Hock Tan, NVDA, Goldman Sachs, Goldman, TD Cowen, Grosvenor, KBW, TTD, Baird, Wells, Tommy Hilfiger, Tommy, Raymond James downgrades Carvana, Raymond James, Wayfair, Oppenheimer, Morgan Stanley, Tesla, Guggenheim, SunPower, Jefferies, Eli Lilly, Roku Organizations: Bank of America, Meta, Broadcom, " Bank of America, Nvidia, Informatica, BMO, Trade, Google, U.S, UPS, JPMorgan, Daiwa, CY2025, UBS, Newell Brands, RBC, Nike, of America, Barclays, Netflix, JPMorgan downgrades Bloom Energy, BE, Pharma Locations: CY24, CY2024, Wayfair, U.S
Wall Street is celebrating Coinbase after the crypto exchange operator posted its first quarterly profit in two years. Late Thursday, Coinbase posted earnings of $1.04 per share on $954 million of revenue for the fourth quarter. "Happy days are here again" for Coinbase, as Raymond James put it, but it's not clear for how long. "That said, we maintain our U/P rating given crypto market unpredictability, lack of revenue diversification, valuation, and continued legal overhang." JPMorgan, neutral, PT $95 "Management calls spot bitcoin ETFs [a] net positive but, we're still unconvinced," said JPMorgan's Kenneth Worthington.
Persons: Coinbase, haven't, bitcoin, Raymond James, Goldman Sachs, Goldman, Will Nance, revs, Jason Kupferberg, Benjamin Budish, EBITDA, underperform, Patrick O'Shaughnessy, we're, Kenneth Worthington, Keefe, KBW's Kyle Voigt, Oppenheimer, Owen Lau, Devin Ryan, Needham, John Todaro, Canaccord, Joseph Vafi, Michael Bloom Organizations: LSEG, U.S . Securities, Exchange Commission, " Bank of America, Bank of America, Barclays, JPMorgan, Management, SEC, Coinbase's, BTC Locations: U.S, Coinbase, Needham
Total: 25