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Piper Sandler reiterates Tesla as overweight Piper says it's sticking with Tesla heading into earnings later this week. Morgan Stanley initiates BioAge Labs at overweight Morgan Stanley says the biotech company is well positioned. " Goldman Sachs upgrades Warby Parker to buy from neutral Goldman sees customer growth for the eyewear company. Morgan Stanley reiterates Home Depot as overweight Morgan Stanley raised its price target on Home Depot to $450 per share from $380. Morgan Stanley downgrades ServiceNow to equal weight from overweight Morgan Stanley said that expectations are already priced in to the stock.
Persons: John Donovan, Piper Sandler, Tesla, Piper, it's bullish, Morgan Stanley, Goldman Sachs, Warby Parker, Needham, Reddit, Gary Friedman, Jack Preston, Baird, TD Cowen, Cowen, Prologis, Goldman, Craig Felenstein, Jim Bombassei, Morgan Stanley downgrades ServiceNow Organizations: Deutsche Bank, GE Vernova, Deutsche, General Electric, BioAge, Barclays, UPS, FedEx, Dominion, Goldman, Nvidia, AMD, Mohawk Industries, JPMorgan, China EV, Catalyst, Bank of America, Fortune Locations: GitLab, NVDA, Europe, U.S, Las Vegas, China
That will be the case in this jam-packed week , with the earnings from Microsoft on Tuesday, Meta Platforms on Wednesday, and Apple and Amazon on Thursday. If Alphabet said it cut back on data-center spending, then it would be alleged the company is falling behind Amazon and Microsoft in the AI race. The company also is now dogged by another competitor in search engines after ChatGPT creator OpenAI announced a prototype of SearchGPT . Apple reports on Thursday, and if you think the cloud-computing heavyweights are spending on too much AI, then you should be buying Apple. President Joe Biden always chose to have his agencies wear down tech companies.
Persons: Don Forst, There's, hadn't, OpenAI, Tesla, Elon Musk, , Russell, Mark Zuckerberg, Nvidia's Jensen Huang, It's, Zuckerberg, EssilorLuxottica —, EssilorLuxottica, Andy Jassy, Stanley Black, Decker, it's, Kamala Harris, Tony West, Joe Biden, Harris, Biden, Biden couldn't, Gina Raimondo, Raimondo, Donald Trump, Sen, JD Vance, Vance, Trump, Xi Jinping's, Abbott, Jim Cramer's, ABT, Jim Cramer, Jim, Sebastien Bozon Organizations: Los Angeles Herald Examiner, Microsoft, Apple, Google, YouTube, Amazon, Nvidia, Siggraph, Federal Reserve, Mohawk Industries, Fortune Brands, Club, Democratic, Uber Technologies, titans, Department of Justice, Federal Trade Commission, Department of Commerce, Republican, Big Tech, Republican Party, Trump, Abbott Laboratories, Drug Administration, CNBC, AFP, Getty Locations: Los Angeles, Denver, Ray, California, U.S, Ohio, Taiwan, St, Louis , Missouri
Dexcom — The medical device stock plummeted more than 36% after the company posted a second-quarter revenue miss. The company's $579 million revenue was also lower than the consensus estimate of $597 million. Coursera — The online course provider stock surged 26% after Coursera posted second-quarter revenue of $170 million, which exceeded the $164 million analysts had expected, according to LSEG. 3M — The industrials giant added nearly 7% after posting second-quarter adjusted earnings of $1.93 and adjusted revenue of $6.02 billion. Charter's $13.69 billion revenue also exceeded the $13.59 billion analysts had expected.
Persons: George Kurtz, LSEG, Dexcom, Boston Beer, Coursera, Bristol Myers, Morgan Stanley, , Alex Harring, Sarah Min, Jesse Pound Organizations: Semiconductor, Nvidia, Broadcom, Devices, Qualcomm, Micron Technology, Boston Beer, Boston, Mohawk Industries, Mohawk, Bristol Myers Squibb, Bristol, Revenue, Norfolk Southern, Charter Communications
Several companies appear oversold this week and could be due for a rebound after a wild week on Wall Street. Stocks with a 14-day RSI reading below 30 often indicate that it's oversold, with a potential rebound possible ahead for the company's shares. Here are some of the most oversold names: Dexcom is the most oversold stock of the list, with a 14-day RSI of 11.6%. Wells Fargo recently reiterated its overweight rating on Disney and its $136 price target, which implies shares could gain 52.4%. That's driven the stock's RSI to more than 81.
Persons: , Walt Disney, Wells Fargo, we're, Steven Cahall, Wall, Sara Senatore, Senatore, FactSet, LSEG, Myers Squibb, Northrop Organizations: Nasdaq, CNBC, Stock, Entertainment, Walt, Disney, DIS, Media, " Bank of America, Mohawk Industries, RSI, Northrop Grumman, Citizens Financial Group Locations: Bristol
Dexcom — Shares plummeted more than 40% after the medical device maker missed expectations for second-quarter revenue and offered weak full-year guidance for the measure. That exceeded analysts' expectations for earnings of $3.48 per share on revenue of $808 million, per LSEG. Norfolk Southern — Shares of the railroad operator gained 10% after a second-quarter earnings beat. Texas Roadhouse — The restaurant chain climbed 4.4% after second-quarter earnings topped expectations. Texas Roadhouse earned $1.79 per share, above the $1.64 per share estimate from analysts surveyed by LSEG.
Persons: Dexcom, Coursera, Newell Brands, Newell, Boston Beer, LSEG, Mohawk, Bristol Myers Squibb, Morgan Stanley, FactSet, amortization, Bitcoin, Alexander, Baldwin —, Alexander & Baldwin, Piper Sandler, Guggenheim, Sweetgreen —, Oppenheimer, Stifel, Yun Li, Pia Singh, Sean Conlon, Jesse Pound, Hakyung Kim, Lisa Kailai Han Organizations: LSEG, Newell, Yankee, Wall, Boston Beer, Boston, Mohawk Industries, Bristol Myers Squibb, Bristol, Revenue, Norfolk Southern, Norfolk, Charter Communications, Southwest Airlines, Deutsche Bank, Southwest, Redburn, FactSet, FTAI Aviation, Texas, Texas Roadhouse, LSEG . Revenue, Colgate, Palmolive Locations: Norfolk
Revenue in the second quarter missed analysts' expectations, coming in at $1 billion versus consensus estimates of $1.04 billion, per LSEG. Boston Beer Company – The maker of Twisted Tea and Samuel Adams slid 5% after second quarter results missed the Street's estimates. The company reported adjusted earnings of $3 per share, excluding items, on revenue of $2.8 billion in the second quarter. Juniper posted adjusted earnings of 31 cents per share and revenue of $1.19 billion in the second quarter. That came up short against analysts' estimates of 44 cents per share in earnings and $1.25 billion in revenue, per LSEG.
Persons: Samuel Adams, Boston Beer, Coursera, Juniper, , Darla Mercado Organizations: Revenue, Boston Beer Company, Boston, Mohawk Industries, FactSet, Juniper Networks
Check out the companies making headlines in midday trading: Delta Air Lines — The stock fell almost 5% after the airline issued a sales growth forecast for the third quarter that came in below expectations. The company also reported an almost 30% decrease in net income for the second quarter compared to a year ago. Shares of major airline stocks American Airlines and United Airlines also fell around 4.7% and 3.7%, respectively, following the results. WD-40 reported total net sales of $155 million in the fiscal third quarter, up 9% from the year-ago period. Semiconductor names — Investors took a few chips off the table on Thursday, selling high-flying semiconductor stocks.
Persons: QuantumScape, Conagra, Lantheus, Tesla, Horton, , Alex Harring, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Tanaya Macheel, Darla Mercado Organizations: Delta Air Lines, American Airlines and United Airlines, Costco, Peugeot, Opel, Vauxhall, Lantheus Holdings, Medicare, Services, PepsiCo, Revenue, Bloomberg News, Bloomberg, Industries, Builders, Semiconductor, , VanEck Semiconductor, Nvidia Locations: U.S, Canada, Europe
Howey, now 30, grew up in northwestern Georgia near Dalton, a small city known as the "carpet capital of the world." SolarCycle, which reclaims old solar panels to make new ones, in February announced plans for a glass factory. The law authorized big tax credits for companies making renewable-energy technologies, including solar panels, batteries, and electric vehicles, in the US. According to S&P Global, the US imported more than two-thirds of its solar panels from Southeast Asia last year. When he sees solar panels atop the chargers, he feels pride in his job.
Persons: Robert Howey, Howey, he'd, Qcells, Catherine Boudreau, Joe Biden, Biden, Bob Keefe, Keefe, Gedia, Pat Wilson, Wilson, Brian Kemp, Benz, Dalton, Kemp, Heidi Popham, Popham, Donald Trump, Scott Moskowitz, Sen, Jon Ossoff of, Moskowitz, it's, Carl Campbell, Campbell, , Whitfield, Jevin Jensen, Jensen, He's Organizations: US Navy, Business, Qcells, South, Hanwha, SK, Hyundai, Georgia Department of Economic, Gov, Porsche, Mercedes, SK On's, Financial Times, Georgia Northwestern Technical College, Treasury Department, P Global, Microsoft, Development Authority, Shaw Industries, Mohawk Industries, EV Locations: Georgia, Dalton, Japan, Cartersville, South Korea, Malaysia, North Carolina, China, Georgia , North Carolina, South Carolina, Savannah, Atlanta, Cartersville , Georgia, Germany, Commerce , Georgia, Southeast Asia, Korea, Jon Ossoff of Georgia, Washington, BloombergNEF, Vietnam, Whitfield County, ., Whitfield, Calhoun
Bank of America also reiterated its neutral rating on Monday, while noting that leadership has "the playbook to turn things around." Diamondback Energy — The shale producer jumped 9.4% after announcing its purchase of Endeavor Energy, the biggest private company that produces natural resources from the Permian Basin. CymaBay Therapeutics , Gilead — Shares of CymaBay soared 25.4% after Gilead agreed to buy the drug developer. The deal comes as Gilead, whose shares were up around 1% in Monday's session, looks to expand beyond HIV drugs. Marqeta — The credit card technology stock added 5.7% after a Bank of America upgrade to buy from neutral.
Persons: Gilead, Bracken Darrell, Trimble, , Joe Ahlersmeyer, Piper Sandler, Teva, Samantha Subin, Sarah Min Organizations: New York Community Bancorp, Bank of America, Endeavor Energy, CymaBay Therapeutics, Gilead, VF Corp, Reuters, Mohawk Industries, Deutsche Bank, Citi, Space Development Agency, Teva Pharmaceutical —, JPMorgan, Nvidia Locations: Israel
JPMorgan upgrades Lowe's to overweight from neutral JPMorgan said investors should buy the stock ahead of earnings later this month. JPMorgan reiterates Netflix as overweight JPMorgan said it's standing by its overweight rating on shares of Netflix. Loop reiterates Meta as buy Loop raised its price target on the stock to $550 per share from $440. Loop reiterates Alphabet as hold Loop raised its price target on the stock to $155 per share from $140. " UBS reiterates Target as buy UBS says Target shares are "compelling."
Persons: Evercore, it's, wouldn't, Rivian, Piper Sandler, Piper, Jefferies, Willis Towers Watson, URBN, Morgan Stanley downgrades Hershey, Morgan Stanley, Morgan Stanley downgrades XPO, Stifel, Raymond James downgrades, Raymond James, Melius, Roth, Guggenheimer, Guggenheim Organizations: Apple, Barclays, Walmart, EV, JPMorgan, generics, UFC, WWE, Netflix, Citi, Willis, PepsiCo, PEP, LT, UBS, Urban Outfitters, Google, 4Q, Bulls, Target, Bank of America, of America, Bank of America downgrades Duke Energy, Duke Energy, Brands, Nvidia, Deutsche Bank, Industries, Deutsche, SilverBow Resources Locations: U.S, Bank of America downgrades, NWL, Republic, Mohawk
Today's market-leading stocks may not have the luxury to sit on their laurels, according to Goldman Sachs. Since Goldman Sachs began tracking the "Laggards" trade in 2022, the trend has held up 13 years out of 21, according to Mehta. The laggards have on average outperformed the S & P 500 by 130 basis points. The first, "differentiated buys," includes opportunities where Goldman Sachs analysts have out-of-consensus buy ratings. Finally, Goldman Sachs analysts also identified stocks with a "track record of CROCI [cash return on capital invested] generation," a metric that evaluates a company's cash return against its total equity.
Persons: Goldman Sachs, there's, Deep Mehta, Mehta, Laggards, laggards, Locker, — CNBC's Michael Bloom Organizations: Financial, Barclays, Mosaic, CF Industries, Clear, Chesapeake Energy, Shoals Technologies, Biomarin Pharmaceutical, Body Works, Mohawk Industries, Bristol, Myers Squibb, Honeywell International, United Parcel Service Locations: . Norfolk Southern, Bath
It's time to look at value stocks as growth names will have a difficult 2024, according to Ariel Investments' John Rogers. "I think the top of growth stocks is coming," Rogers told CNBC's Scott Wapner at the CNBC CFO Council Summit in Washington, D.C. "I really, really do." Instead, the investor is bullish on value names as the gap in performance between growth and value widens. The value manager said growth stocks could continue to outperform in a falling interest rate environment. The investor is bullish on stocks tied to the housing sector.
Persons: Ariel, John Rogers, Rogers, CNBC's Scott Wapner Organizations: Ariel Investments, CNBC, Summit, Russell, Mohawk Industries, Paramount Global, Paramount, Garden Entertainment, CNBC PRO Locations: Washington ,, Madison, Caribbean
Mohawk Industries — Shares of the flooring manufacturer gained 5% after Loop Capital upgraded the company to buy from its previous hold rating. WisdomTree — Shares of the financial firm gained 3% after the company said it had $1.9 billion of net flows in March. New York Community Bancorp — Shares of the regional bank gained 2.7% after Jefferies upgraded the stock to buy from hold. LendingClub — The lending stock gained 5% after JPMorgan initiated coverage of the stock at overweight. Murphy Oil — The natural gas company's shares gained 2.6% after Truist upgraded shares to buy from hold.
Despite this challenging environment, Goldman Sachs remains optimistic and expects a "soft-landing" for the U.S. economy. 'Soft-landing' stock picks To capture the upside in a soft-landing scenario, the Wall Street bank said that investors should own stocks that can benefit from a decelerating inflation environment. What follows are the first four stocks named by Goldman Sachs in its "soft-landing portfolio." Goldman Sachs analysts expect an earnings-per-share growth of 5% for Tesla and 7% for Garmin over the next 12 months, compared to a 1% growth for the S & P 500. Goldman Sachs has previously predicted that the S & P 500 will finish the year at the same level it started —4,000 — representing a return of 0% for 2023.
Morning Bid: Corporate scatter
  + stars: | 2023-02-09 | by ( ) www.reuters.com   time to read: +5 min
A look at the day ahead in U.S. and global markets from Mike Dolan. A hail of mega corporate updates distracted stock markets from a confusing macro picture - but offers little more clarity with scattergun fortunes and ambiguous readouts for the wider economy. The flub fed worries that the Google parent is losing ground to rival Microsoft (MSFT.O) in the renewed craze around artificial intelligence. European shares touched a fresh nine-month high on Thursday as Germany's Siemens and UK's AstraZeneca boosted earnings euphoria, while Britain's bank, commodity and pharma heavy FTSE100 hit another record high. Norway's $1.35 trillion sovereign wealth fund said it had recently divested virtually all its remaining shares in the Adani group.
Club holding Wynn Resorts (WYNN) jumps 5% in the premarket after a 4.5% pop Friday. UBS downgrades Caterpillar (CAT) to neutral (hold) from buy; cuts price target by $5-per-share to $230, which is silly. Outback Steakhouse owner Bloomin' Brands (BLMN): two price target boosts, Citi and Barclays. Barclays: LyondellBasell (LYB) downgraded to equal weight from overweight (hold from buy), cut price target to $82 per share from $95. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Morning Bid: Meta averse, ECB decides and CS slides
  + stars: | 2022-10-27 | by ( ) www.reuters.com   time to read: +4 min
A look at the day ahead in U.S. and global markets from Mike Dolan. Meta added a deep pothole to an already bumpy U.S. earnings season - another obstacle to a market pumped-up by bets of some central bank relief on the horizon as G7 economies slow. read moreWith Apple (AAPL.O) and Amazon reporting later on Thursday, sentiment toward tech giants remains on edge. But after two-week, trough-to-peak bounce of almost 10%, global stock indices (.MIWD00000PUS) struggled to make much headway for the second session on Thursday. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
The three major averages closed higher Friday, with the S & P 500 adding 2.37% to close at 3,752.75. Stovall said the S & P 500 had six positive moves of 1% or more in the last 17 trading days, as of Friday. Earnings, earnings, earnings About 150 S & P 500 companies report earnings in the coming week. Technically speaking Scott Redler, partner with T3Live.com, said he is watching a formation in the S & P 500 that could be positive. His first target for the S & P 500 is 3,800.
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