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"With yields holding firm at elevated levels , large caps continue to outperform small caps. Hopes for multiple rate cuts from the Federal Reserve this year have dimmed after recent inflation readings showed signs of stickiness. An economy that is growing more slowly, but with cooler inflation, could be the combination small caps need. Small caps could also benefit from an uptick in the global economy that benefits areas like manufacturing that has heavy representation in the small-cap index. Investors who really want exposure to small caps could also look outside of the U.S. Wolfe Research analyst Rob Ginsberg said in a May 29 note to clients that global small caps are outperforming their U.S. counterparts and are poised for a potential breakout.
Persons: Russell, Todd Sohn, JC O'Hara, Roth MKM, Chad Miller, you've, Miller, Cayla, Seder, Mark Haefele, Solita, Angelo Kourkafas, Edward Jones, Rob Ginsberg, — CNBC's Michael Bloom Organizations: CNBC, ESG, Silicon Valley Bank, Federal Reserve, Big Tech, Companies, UBS, Institute, Supply, PMI, Investors, U.S . Wolfe Research Locations: Thrivent, Silicon
CNN —A Michigan State Police detective has been charged with murder after investigators say he fatally struck a fleeing suspect with an SUV last month near Grand Rapids, state prosecutors announced. Sterling fell to the ground and began yelling and groaning about pain in his back, body-worn police camera footage shows. Keely, 50, has been charged with one count of second-degree murder, which carries a life sentence, as well as an alternative charge of involuntary manslaughter, Michigan Attorney General Dana Nessel announced Tuesday. Brian Keely Michigan State Police)“Detective Sergeant Keely’s actions that day were legally, grossly negligent and created a very high risk of death or great bodily harm, which could have otherwise been prevented,” Nessel said. Keely was suspended from his position following the incident, Michigan State Police Director Col. James Grady II said last month.
Persons: Sgt, Brian Keely, Samuel Sterling, Sterling, Keely, Dana Nessel, ” Nessel, James Grady II, Grady, it’s, ” Grady, Ven Johnson, , , Marc Curtis, ” Johnson, Sterling “, ” Curtis Organizations: CNN, Michigan State Police, Michigan Department, Sterling, Brian Keely Michigan State Police, WWMT, Authorities, Marshall’s, Force Locations: Grand Rapids, Kentwood, Michigan, Burger
Nvidia is now a $2.8 trillion company, an eyewatering figure that places the graphics processing unit maker just behind Apple ($2.9 trillion) and Microsoft ($3.2 trillion) in the S & P 500. At the same time, however, more investors wonder if Nvidia is overvalued and they should start taking profits, especially as the broader market comes under pressure from higher Treasury yields. Nvidia has surged above its 50-day and 200-day moving averages, and it now boasts a price-to-earnings (P/E) ratio of 66. A move toward the upper band could mean the stock is overbought. Correction: A previous version of this article misstated the values of Nvidia, Apple and Microsoft.
Persons: Josh Brown, BTIG's Jonathan Krinsky, Krinsky, Wolfe, Rob Ginsberg, Ginsberg Organizations: Nvidia, Apple, Microsoft, Walmart, Netflix, Wealth, Bollinger
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's 'a decent chance' of a conviction in Trump's hush money trial: Wolfe Research's Tobin MarcusTobin Marcus, Wolfe Research’s head of policy and politics, joins 'Squawk Box' to discuss the latest developments in former President Trump's fraud trial, how the outcome of the trial could impact the November elections, and more.
Persons: Wolfe Research's Tobin Marcus Tobin Marcus, Wolfe Research’s, Trump's
Storms unloaded hurricane-force wind gusts across the Dallas area, with Dallas Fort Worth International Airport recording a wind gust of 77 mph early Tuesday as power outages in the area started to skyrocket. KTVTThe power outages started to ramp up early Tuesday morning in the Dallas area, then extended south with the storms as they roared across the state, according to Large hail, lightning and wind gusts as strong as 80 mph are the main threats with any storm. Dallas is the second major Texas city to have critical power infrastructure damaged by severe weather in less than two weeks. Storm damage is seen in the Dallas-Fort Worth, Texas, area on May 28, 2024.
Persons: Houston’s George, Storms, Clay Jenkins, Grant Cruise, Oncor, , ” Cruise, it’s, Jenkins, Andy Rose Organizations: CNN, Dallas Fort Worth International, Dallas, Houston’s George Bush Intercontinental, White House, National Weather Service, Sunday, Houston, , Dallas County, Texans Locations: Texas, Dallas, Houston, Terrell , Texas,, Dallas County, Louisiana, Oklahoma, Fort Worth, Harris County, Fort Worth , Texas
Shares are up 13% in 2025, and the company has an estimated 2024 free cash flow to firm yield of 3%, according to Wolfe's analysis. Analysts also generally like the stock, with 11 out of the 14 analysts covering the name rating it a buy or strong buy, according to LSEG. Wolfe also called out O'Reilly Automotive as a potential dividend initiator, highlighting the company's estimated free cash flow to firm of 3% in 2024. Shares are up a mere 1.5% in 2024, but the name remains liked by the Street, rated a buy or strong buy by 64% of the analysts covering it, per LSEG. Estimated free cash flow to firm yield comes in at 7% for 2024, per Wolfe's analysis.
Persons: Wolfe, Alphabet's, Charlie Gaffney, Eaton Vance, we're, there's, Chris Senyek, Skechers, O'Reilly, TD Cowen, Max Rakhlenko, Morgan Stanley Organizations: Wolfe Research, Morgan Stanley Investment Management, CNBC, Equity Income Fund, UBS, O'Reilly Automotive, PayPal, Mattel
How long this trend will last is unclear, though it's clear a lot will depend on the direction of interest rates. This dynamic isn't surprising given a high interest rate environment that has pressured consumers. "Elevated interest rates are causing customers to defer their large discretionary projects," UBS analyst Michael Lasser said. "This means that a recovery should be robust as interest rates move lower." "Existing home sales also continue to be a material headwind to remodel activity as long as interest rates remain relatively high," Badishkanian said.
Persons: Richard McPhail couldn't, McPhail, Marvin Ellison, Bradley Thomas, Greg Melich, it's, Michael Lasser, Melich, bode, Wolfe, Greg Badishkanian, Badishkanian, Edward Decker, KeyBanc's Thomas, Ellison, Lowe's, Thomas, Lowe's Ellison Organizations: Home, Federal Reserve, Depot, CNBC, UBS, Home Depot, Wolfe Research, Lowe's, Pro, FactSet Locations: Lowe's, Friday's
New York CNN —Buying or selling a stock is about to get a lot snappier starting next Tuesday. But that doesn’t mean it’ll get smoother, at least right away — and some financial firms are preparing to handle any possible bumpiness. Clearinghouses, which sit between buyers and sellers, collect margins from traders as evidence that they can afford to make the transaction. Baird has had a T+1 committee in place since last summer to ensure such hiccups don’t happen, Lee said. “The existing two-day period to settle trades exposes investors and the industry to unnecessary risk and is ripe for change,” Robinhood CEO Vlad Tenev said in a February 2021 release.
Persons: , That’s, ” Gary Gensler, , Rich Lee, Baird, Lee, Reddit, Vlad Tenev, Max, Gregory Wallace, Brian West, Mike Whitaker, ” “, ” Whitaker, Read, Meta, that’s, Clare Duffy, Patrick Collison, Nat Friedman, Tobi Lütke, Charlie Songhurst, White, OpenAI Organizations: CNN Business, Bell, New York CNN, Securities and Exchange Commission, Employees, GameStop, AMC Entertainment, AMC, Robinhood, Investors, Boeing, FAA, Federal Aviation Administration, Wolfe Research, ABC, Microsoft, Meta Locations: New York, OpenAI
CNN —Boeing will present its plan to fix quality problems with its assembly line to US regulators next week, the company said Thursday. The FAA said it audited the production line at Boeing and its key 737 Max supplier and found “multiple instances where the companies allegedly failed to comply with manufacturing quality control requirements.” It gave Boeing 90 days to present a plan — and that deadline is next week. Boeing chief financial officer Brian West said Thursday that Boeing and the FAA have had “lots of dialogue” including two check-ins during the preparation of the plan. “Our objective is to make sure the mechanic is fully prepared to do the work as intended,” West said. “We have frustrated and disappointed our customers because of some of the production supply chain issues that we’re up against,” West said.
Persons: Max, Brian West, , , Mike Whitaker, ” “, ” Whitaker, West, ” West, AeroSystems Organizations: CNN, Boeing, Federal Aviation Administration, FAA, Wolfe Research, ABC News, , Airbus
A month ago, West forecast Boeing would generate free cash flow "in the low single-digit billions." The company's aircraft deliveries in the first quarter fell to the lowest level since the pandemic. Other problems have also sprung up, including a pause on deliveries of 737 Max planes to China to review batteries for the cockpit voice recorder. Parts shortages have also slowed deliveries of 787 Dreamliners, Boeing has said. American Airlines last month said it would cut some international flights because of delays of the wide-body jets.
Persons: Brian West, West, Dave Calhoun, Max Organizations: American Airlines Boeing, Reagan National, FAA, Boeing, Wolfe Research, Federal Aviation Administration, Civil Aviation Administration, China, American Airlines, United Airlines, Southwest Airlines Locations: Los Angeles, United States, Washington , U.S, China
Hedge funds added more exposure to financial and tech names in the last quarter, according to Morgan Stanley. Castagno highlighted that in the last quarter, hedge funds seemed to shift their portfolio allocations toward the information technology and financials sectors, moving away from health care. However, hedge funds still remain most overweight stocks within the health care, consumer discretionary and industrials industries. Hedge funds have recently increased their ownership shares in retailer Bath & Body Works by 2.5%. Wolfe Research upgraded shares of Alaska Air Group to outperform from peer perform last Friday.
Persons: Morgan Stanley, Todd Castagno, Castagno, A.J, — CNBC's Michael Bloom Organizations: Securities and Exchange, Universal Health Services, UBS, Body, JPMorgan, Airline, Alaska Air Group, Wolfe Research, TPG, DXC Technology, Avis Budget Group Locations: Rice, Bath, Coast
Multiple fatalities and some injuries have been reported in the small city of Greenfield, Iowa – about 50 miles southwest of Des Moines – after a tornado carved a devastating path through the community Tuesday evening, Iowa State Patrol spokesperson Sgt. “There is basically nothing left,” Clel Baudler, a former Iowa state representative who lives a half mile from Greenfield, told CNN on Tuesday. Power outages across Iowa, Wisconsin and Illinois left nearly 200,000 homes and businesses in the dark as of Tuesday night, according to A few tornadoes could strike from Texas to Arkansas, but hail and powerful winds are possible anywhere along the storms’ path. Heaps of rubble blanket Greenfield, Iowa, after a tornado touched down Tuesday.
Persons: Alex Dinkla, Dinkla, Clel, Kim Reynolds, Charlie Neibergall, Valerie Warrior, KCCI, , , “ They’ll, CNN’s Jessica Jordan, Sara Smart, Amy Simonson Organizations: CNN, Midwest, Des Moines, Iowa State Patrol, Storm Prediction Center Locations: Iowa, Greenfield , Iowa, Des, Greenfield, Iowa , Wisconsin, Illinois, Texas, Vermont, Ohio, Great, Arkansas, Oklahoma, Dallas, Fort Worth, Nashville, St, Louis, Memphis, Cleveland, Tulsa, Columbus, Iowa , Minnesota , Wisconsin, Western Iowa, Prescott, Adams County, Montgomery County
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed minutes indicate worries over the lack of progress on inflationCNBC's Steve Liesman, Lido's Ken Stern, and Wolfe Research's Stephanie Roth join 'Power Lunch' to discuss their takeaways from today's Fed minutes.
Persons: Steve Liesman, Lido's Ken Stern, Wolfe Research's Stephanie Roth Locations: today's
Wall Street will be keeping close watch on what Nvidia says about demand for its artificial intelligence chips when the market-moving chipmaker reports quarterly results after the bell Wednesday. Nvidia is expected to surpass expectations again, with analysts polled by LSEG calling for earnings of $5.59 per share on $24.65 billion in revenue. "As long as it tops analyst expectations, NVIDIA is likely to remain a key tailwind for the overall U.S. stock market." NVDA 1Y mountain Shares over the last year For multiple quarters, Nvidia has shocked Wall Street with the robust demand for its tools. "We continue to expect a strong beat-and-raise quarter from NVIDIA as Hopper demand remains robust before the Blackwell transition," wrote Morgan Stanley's Joseph Moore.
Persons: they've, Wolfe, Chris Senyek, Hopper, Blackwell, Morgan Stanley's Joseph Moore, Piper Sandler's Harsh Kumar, Rosenblatt's Hans Mosesmann, Baird's Tristan Gerra, Tom O'Malley, Baird's Gerra, Nvidia's Blackwell, America's Vivek Arya, Arya, Timothy Arcuri, Rosenblatt's Mosesmann, O'Malley, Morgan Stanley's Moore Organizations: Nvidia, NVIDIA, Blackwell, Barclays, Bank, America's, UBS Locations: Nvidia's
You might fixate on understanding why you're feeling this way, why the upsetting situation has occurred, and what you can rationally do to resolve it. AdvertisementShe shared three signs that you might be intellectualizing your feelings and how you can start to feel safe enough to feel them. The goal of therapy should be to support when you're feeling safe enough that you want to feel your feelings." You feel emotionally disconnected from people and things in your lifeFeeling a sense of emptiness or disconnection could be a sign you're intellectualizing your feelings. You're responding normally but you don't feel fully authentic or present because you're thinking too much and you're "stuck in your head."
Persons: , Trisha Wolfe, Wolfe, they've, They'll, I'm, Intellectualizing Organizations: Service, Business, Systems Locations: Michigan, intellectualizing
Read previewCompanies are increasingly ditching middle management positions, and it could be millennials who find their jobs are most at risk. While Galvin said the intent of reducing middle management is to streamline communication between employees and senior executives, the impact could be unfairly balanced. AdvertisementMiddle management positions accounted for almost a third of layoffs in 2023, according to an analysis for Bloomberg — an increase from 20% in 2018. It just so happens that a lot of middle managers are millennials. Many current middle managers are also burned out with their teams being downsized, and an increased workload.
Persons: , it's, Lara Milward, Joe Galvin, Vistage, Steven Baert, It's, Galvin, Chris Lovell, Chris, millennials, Lovell, Zers, Milward, Joel Wolfe, HiredSupport, Millennials, Wolfe, Shoshanna Davis, unbossing, Davis, Gen Organizations: Service, Business, Novartis, Gallup, Bloomberg —, Technologies, SoFi Technologies
The federal IOU is now at $34.5 trillion, or about $11 trillion higher than where it stood in March 2020. Concern over such eye-popping numbers had been largely confined to partisan rancor on Capitol Hill as well as from watchdogs like the Committee for a Responsible Federal Budget. Uncharted territory for debt and deficitsIndeed, the CBO numbers are ominous, as they outline the likely path of debt and deficits. Surging budget deficits have been driving the debt, and the CBO only expects that to get worse. "The huge obvious problem is that the U.S. federal debt is now on a completely unsustainable long-term trajectory," analysts at Wolfe Research said in a recent note.
Persons: Greenlee Beal, Jerome Powell, Powell, Jamie Dimon, Ray Dalio, hasn't, Wolfe Organizations: U.S, Capitol, Wall, CBO, Union, JPMorgan Chase, Sky News, Bridgewater Associates, Financial Times, Treasury Department, Wolfe Research, U.S ., Federal Reserve Locations: Washington , U.S, Washington, Amsterdam, London, America, U.S
The man who broke into the San Francisco home of Nancy Pelosi two years ago and bludgeoned her husband with a hammer was sentenced on Friday to 30 years in federal prison, with credit for time already served. The assailant, David DePape, was convicted in November 2023 on federal charges. He admitted on the witness stand during the trial that he had carried out the attack, as he had done before in interviews with the police and media outlets. But he said that he never intended to hurt Ms. Pelosi’s husband, Paul Pelosi. Mr. DePape said his intrusion into the couple’s home in the affluent Pacific Heights neighborhood was part of a plot to kidnap Ms. Pelosi and interrogate her about a supposed corrupt conspiracy led by Ms. Pelosi and other prominent liberal figures.
Persons: Nancy Pelosi, Pelosi, David DePape, Pelosi’s, Paul Pelosi, Mr, DePape, Ms Organizations: San Locations: San Francisco, Pacific Heights
Opinion | Wokeness Is Dying. We Might Miss It.
  + stars: | 2024-05-17 | by ( Michelle Goldberg | )   time to read: +1 min
There is much about that febrile moment worth satirizing, including the white-lady struggle sessions inspired by the risible Robin DiAngelo and the inevitable implosion of Seattle’s anarchist Capitol Hill Autonomous Zone. Bowles dissects both in the book’s best sections. “At various points, my fellow reporters at major news organizations told me roads and birds are racist,” she writes. Exercise is super racist.” Even allowing for 2020’s great flood of social-justice click bait, these are misleading and reductive caricatures. It’s hardly revisionist history, for example, to point out that Interstates were tools of racial segregation.
Persons: Nellie Bowles, George Floyd, Donald Trump’s, , , Robin DiAngelo, Bowles dissects, Tom Wolfe’s “, Joan Didion’s “, It’s Organizations: New York Times, Capitol, Capitol Hill Autonomous Locations: Capitol Hill, Bethlehem
Here are Friday's biggest calls on Wall Street: Bank of America reiterates Nvidia as buy Bank of America said top pick Nvidia remains "compelling" heading into earnings next week. Bank of America reiterates Marvell as buy Bank of America said it's sticking with its buy rating heading into earnings later this month. " Citi reiterates Walmart as a top pick Citi said the stock remains a top pick following earnings. Chevron Corp. (CVX): Reiterate Constructive View on Inflecting FCF Generation and Relative Valuation; Buy with 13% Total Return." "Near-term caution is offset by our increasingly bullish medium-term outlook, where CRM is well positioned for GenAI & valuation remains undemanding."
Persons: Marvell, Roth, Ree, Roth MKM, it's, REE, Wells, Oppenheimer, Reddit, Goldman Sachs, Tesla, Goldman, BTIG, Baird, Jefferies, Morgan Stanley, Baidu, Wolfe, UAL, Cantor Fitzgerald, Cantor, Price, Stifel, Salesforce Organizations: Bank of America, Nvidia, Ree Automotive, EV, Netflix, Citi, OpenAI, Google, Walmart, Darden, Jefferies, DuPont, Macquarie, Stock, underperform Bank of America, Chevron, Chevron Corp, JPMorgan, Body, United Airlines, Price Target, Health, Base Locations: Thu, Olive, China, United, Underperform
The no-confidence resolution was introduced by the campus chapter of the American Association of University Professors, a professional faculty organization. The group that brought the no-confidence resolution against Dr. Shafik does not “represent many faculty and students at Columbia University,” the letter stated. On Wednesday, Dr. Shafik wrote a conciliatory note to students and published it in the school newspaper in lieu of a graduation speech. Of the 899 faculty members eligible to vote, 709 completed a ballot. There are about 4,700 full-time faculty members at Columbia, of which the Faculty of Arts and Science represents about 20 percent.
Persons: Nemat, Shafik, , ” Ben Chang, David Ahmed Ali, , Robert Newton, ” Dr, Newton, Liset Cruz Organizations: of Arts and Sciences, Columbia University, American Association of University, University Senate, Hamilton Hall, Columbia College, , Israel, Mailman, of Public Health, New School, City University of New, CUNY, New York University, Columbia, Ivy League, of Arts and Science Locations: Israel, Hamilton, Columbia, Gaza, City University of New York
Piper Sandler reiterates Nvidia as overweight Piper said it's sticking with its overweight rating heading into earnings next week. JPMorgan reiterates Netflix as overweight JPMorgan said it's sticking with its overweight rating following Netflix's upfront advertising presentation. Our price target moves to $340, reflecting channel commentary and recent multiple appreciation." JMP reiterates Robinhood as market outperform JMP said it's sticking with its market outperform on the stock trading company. "We are upgrading Wayfair Inc. to BUY from HOLD, with a price target of $83."
Persons: Piper Sandler, Piper, NVDA, Blackwell, Wolfe, underperform Wolfe, Houghton, it's, Truist, JMP, Goldman Sachs, Goldman, Dell, DELL, Wells, Jack, Tesla, Raymond James, Wolfe Alpha, SharkNinja, Argus Organizations: Citi, Nvidia, JPMorgan, Netflix, Intel, Energy, Networks, FedEx, UBS, Texas, RBC, Holdings, Devices, Alpha, AMD, " Bank of America, Bank of America, of America, Wayfair Inc Locations: 2H25, Asia, China
A fast food stock and Nvidia were among the stocks being talked about by analysts on Wall Street. RBC assumed coverage of Jack in the Box with an outperform rating and a price target that implies more than 40% upside. Ransom's $10 price target implies about 37.6% potential upside for the stock, which has gained 8.5% this year. Mailk said he likes the buy-rated stock on "secular AI growth opportunities" and maintained his $1,030 price target. New Street Research maintained its buy rating and $1,100 price target ahead of the quarterly print.
Persons: Jack, Piper Sandler, GoodRx, Raymond James Raymond James, John Ransom, — Pia Singh, Tesla, Dell, Amit Daryanani, Daryanani, Wolfe, Chris Caso, Caso, INTC, Coupang, Jennifer Han, Han, that's, Nvidia's, Piper Sandler's Harsh Kumar, Kumar, Blackwell, Atif Malik, Mailk, Pierre Ferragu, Logan Reich, JACK YTD, Fred Imbert Organizations: CNBC, Nvidia, Wall, RBC, Citi, New, Research, Kroger, pharma, Dell, DELL, Wolfe Research, Intel, UBS, Blackwell, RBC Capital Markets Locations: Korea
More than 100,000 are also in the dark in Louisiana as storms batter the state, as well. Parts of Texas and western Louisiana are under a rare Level 4 of 4 high risk of excessive rainfall Thursday, the Weather Prediction Center said. Major flooding has prompted water rescues in at least one Texas city. Texas and Louisiana have been in the bull’s-eye of seemingly unrelenting rounds of torrential, flooding downpours since the start of April. A tornado warning had been issued earlier Thursday evening in Harris County, including downtown Houston, according to the National Weather Service.
Persons: Samuel Peña, John Whitmire, Houston Mayor John Whitmire, Houstonians, what’s, Hurricane Harvey Organizations: CNN, Houston Fire, Hyatt, Weather Prediction, WPC, National Weather Service, Houston, KPRC, Houston Astros, Oakland Athletics, Houston Mayor, Centerpoint, METRO, Training, Florida Panhandle, Regional Climate Center ., Hurricane Locations: Houston, Hyatt Regency, Texas, Louisiana, Bryan, United States, Georgia, Waco, Mississippi, Lake Charles , Louisiana, Harris County, Harris, city’s, Gulf, Alabama, Florida, Shreveport , Louisiana
Technical signals are indicating the dramatic meme stock rally , driven by a short squeeze, could soon come to a painful end, according to Wolfe Research's Rob Ginsberg. A short squeeze occurs when investors who had bet against a stock by borrowing shares and hoping to buy them back later at a lower price luck out. This then pushes the stock price higher. SunPower , another short squeeze candidate, dropped 19% Wednesday before the open, after surging 60% Tuesday. Wolfe Research said an index it manages with Nomura that measures stocks with high short interest this week "rallied into a lower high at long-term resistance."
Persons: Wolfe, Rob Ginsberg, Ginsberg, Nomura, Michael Bloom Organizations: GameStop, AMC, Wolfe Research
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