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Cramer's lightning round: I say thumbs up to MP Materials
  + stars: | 2023-01-26 | by ( Krystal Hur | ) www.cnbc.com   time to read: 1 min
In this article 2015-HKMRVLRESMPSO Follow your favorite stocks CREATE FREE ACCOUNTLoading chart...Southern Co : "I'm going to bless the idea." Loading chart...MP Materials Corp : "I say, thumbs up, MP Materials." Loading chart...Marvell Technology Inc : "You don't want to buy until it reports. After it reports, we're going to take a solid look at it. Who am I to go against the smartest man in the world?"
AMD, Marvell Technology Name New CFOs
  + stars: | 2023-01-12 | by ( Kathryn Hardison | ) www.wsj.com   time to read: +1 min
Marvell Technology Inc. has appointed Willem Meintjes as its chief financial officer, succeeding Jean Hu as she takes on the CFO role for Advanced Micro Devices Inc.Mr. Meintjes will assume the position on Jan. 20, Marvell Technology said Wednesday. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. PREVIEW Ms. Hu will become the CFO and executive vice president at Advanced Micro Devices on Jan. 23, according to a separate announcement. Mr. Meintjes has served as Marvell’s chief accounting officer and treasurer since 2018. He joined the company in 2016 as a senior vice president of finance.
Microsoft and Alphabet are both Club stocks. Boeing (BA) downgraded to equal weight from overweight (hold from buy) at Morgan Stanley (MS). Wells Fargo upgrades AT & T (T) to overweight from equal weight (buy from hold); price target up to $22 per share from $17. On the seas, Morgan Stanley downgrades Norwegian Cruise Line (NCLH) to underweight from equal weight (sell from hold). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Semiconductor stocks suffered a series of blows in 2022 as demand for consumer discretionary items fell off a cliff and supply chain disruptions continued. Betting on semiconductor favorites Despite ongoing volatility, some analysts and investors are still betting on once high-flying names in 2023, even though the challenges of 2022 continue. One of those is Advanced Micro Devices, a chip stock commonly connected with PC and server chips that fell hard in 2022. Texas Instruments held up better than the rest of the semiconductor market in 2022, shedding a little more than 12%. Bailey is mostly shying away from former, rapid growth names, with small bets on ASML and Marvell for clients looking for possible higher growth.
It's been a tough year for the once-booming semiconductor sector. But several Wall Street pros are urging investors to take a longer-term view on the sector, given the importance of the semiconductor chip in several key secular trends. The bank said the next leg of growth for the sector will be led by government spending on renewable energy and carbon neutrality. The bank named Analog Devices , Marvell Technology , Globalfoundries and Microchip Technology among its top stock picks in the chip sector. TSMC in the headlines One chip stock that has consistently been on investors' radars is semiconductor powerhouse Taiwan Semiconductor Manufacturing Company (TSMC).
2022 brought an end to an impressive bull run for technology — and the worst year for the Nasdaq Composite since 2008. Energy stocks, meanwhile, found favor in investors' portfolios, as did healthcare and financials. Given this outlook, CNBC examined some of the worst and best-performing stocks in the Nasdaq 100 this year. Energy stocks Energy won 2022, benefitting from volatile oil prices triggered by the war in Ukraine. Meta Platforms was the worst-performing FAANG name, and one of the poorest-performing Nasdaq stocks.
Tesla — Shares fell more than 9% during Thursday trading. Analysts expected earnings of 70 cents a share on $7.29 billion in revenue. Under Armour — Shares fell more than 4% Thursday. TuSimple — Shares dropped more than 12% after TuSimple said it would cut 25% of its workforce, which would affect about 350 employees at the self-driving truck startup. Airline stocks — A slew of airline stocks fell Thursday amid news of hundreds of flight cancellations as a massive winter storm hit the U.S. American and United slumped 5.5% and 4%, respectively.
Guggenheim names Nike a top 2023 pick Guggenheim said Nike's brand remains "healthy and strong." Bank of America names Amazon a top 2023 pick Bank of America said Amazon is a "share gainer" that will continue in 2023. " Morgan Stanley upgrades Verizon to overweight from equal weight Morgan Stanley said Verizon shares are "historically" attractive. Morgan Stanley downgrades AT & T to equal weight from overweight Morgan Stanley said it sees a more balanced risk/reward. Morgan Stanley downgrades Lockheed Martin to equal weight from overweight Morgan Stanley said it sees more "limited upside" for shares of the defense company. "
We're making several updates to our Bullpen watch list: adding five names, including Caterpillar (CAT), and removing two. Also, adding a stock to the Bullpen does not necessarily mean we would buy it at the current price. Let's go company by company to explain the reasons behind the additions and the removals. 5 stocks added to the Bullpen This aerospace and defense company was formed in 2020 through the combination of Raytheon Company and United Technologies Corporation's aerospace business. 2 stocks removed by the Bullpen We put Barrick Gold in the Bullpen back in March, thinking investors may seek out gold stocks as a safe haven during times of crisis.
The shortage of semiconductors during a boom in electric vehicle sales could help raise profits at a handful of chip makers, according to Bank of America. The investment bank said shares of U.S.-listed European chip maker STMicroelectronics and Japan's Renesas Electronics could rise by more than 75% over the next year on that trend. Although global automotive sales are expected to rise by just 3-4% over the next two years, the transition to EV cars means chip sales are set to grow by 7-9% year after year for the next two years, the Wall Street bank said. The company said auto revenues grew 44% in 2021 due to chip sales for in-car connectivity devices. Other chip stocks set to benefit from the trend to EV vehicles include U.S.-based companies Marvell , Microchip , Nvidia and Ambarella , Wolfspeed , and Onsemi , as well as European semiconductor manufacturers NXP and Soitec .
The Dow Jones Industrial Average has done so much better than the average semiconductor company, or even the above-average enterprise software company that it's insane that we even focus on some of the latter. The 600 companies formed in the last two years rent too much of your brain space even in passing. What enterprise software company can say that? As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Hot jobs report Marvell earnings readthrough 1. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. 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.
Zscaler – The cloud security company's shares dipped 11% following its quarterly earnings report, despite Zscaler posting strong results. Marvell Technology – The semiconductor stock fell 4% after the company reported weaker-than-anticipated earnings and revenue for the most recent quarter. DoorDash – Shares of the food delivery service operator fell more than 2% following a downgrade from RBC Capital Markets. Enphase Energy – Shares of energy name Enphase surged 6% Friday and hit a 52-week high after the company announced it launched a group of microinverters in Europe. Chinese stocks – Shares of Chinese retail stocks Baidu gained 5% while JD.com and Pinduoduo rose 6.4% and 4.6% respectively as signals of easing Covid restrictions in China calmed investors.
Futures slip ahead of November jobs report
  + stars: | 2022-12-02 | by ( ) www.reuters.com   time to read: +2 min
SummarySummary Companies Futures off: Dow 0.07%, S&P 0.02%, Nasdaq 0.07%Dec 2 (Reuters) - U.S. stock index futures edged lower on Friday as investors await the monthly jobs report for November, which would provide more clues on the Federal Reserve's path of monetary tightening. The Labor Department's jobs report due at 8:30 a.m. Investors now see a 91% chance that the U.S. central bank will increase interest rates by 50 basis points in December, with the rates peaking under 5% in May 2023. "The market is looking for the Goldilocks scenario for U.S. jobs numbers on Friday," said Russ Mould, investment director at AJ Bell. Benchmark 10-year Treasury yields fell to 10-week lows and the two-year note , which often indicates interest rate expectations, slipped to early October lows.
Zscaler (ZS) – The cloud security company reported a better than expected quarter, but its stock slumped 9.1% in premarket trading following conservative guidance. Horizon shares had soared 27.3% last Friday on news that it was in talks with several potential takeover partners. DoorDash (DASH) – DoorDash shares fell 2.8% in premarket trading after RBC Capital Markets downgraded the stock to "sector perform" from "outperform." Rigel Pharma (RIGL) – Rigel's stock soared 34% in the premarket after the FDA approved its drug to treat a certain type of leukemia. PagerDuty (PD) – The cloud computing company's stock jumped 6.6% in premarket trading after it reported an unexpected quarterly profit.
"Adding to the Fed's problems, monetary conditions have loosened in recent weeks as the dollar and longer-dated Treasury yields have fallen and credit spreads have narrowed. This is undoing the tightening effects of the Fed's recent rate rises." Investors now see an 87% chance that the Fed will increase interest rates by 50 basis points in December, down from 91% before the jobs data was published on Friday. Declining issues outnumbered advancers for a 5.14-to-1 ratio on the NYSE and a 3.09-to-1 ratio on the Nasdaq. The S&P index recorded two new 52-week highs and no new low, while the Nasdaq recorded 15 new highs and 40 new lows.
Marvell Technology (MRVL) gets multiple price target cuts. Here's a switch: Citi is RAISING its price target on FedEx (FDX) to $190 per share from $165. So price target cuts on Wall Street and the stock down more than 11% in the premarket. The work management platform issues disappointing operating income and lots of analyst price target cuts. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Pedestrians wearing protective masks pass in front of a banner displaying Asana Inc. signage during the company's initial public offering (IPO) in front of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, September 30, 2020. Asana – Shares of the work management platform operator plunged about 12% in extended trading after the company reported a loss for the most recent quarter on a non-GAAP basis, though it was narrower than expected. Zscaler – The cloud security company saw its shares dip 9% following its quarterly earnings report, despite posting strong results. The company also forecast better-than-expected earnings and revenue for its fiscal second quarter and full year. Marvell Technology – The semiconductor stock fell 6.9% after the company reported weaker-than-anticipated earnings and revenue for the most recent quarter.
S&P 500 futures were slightly lower Thursday night as investors looked ahead to the November jobs report. Dow Jones Industrial Average futures were lower by 0.15% and Nasdaq 100 futures fell 0.25%. In regular trading, the Dow closed lower by nearly 195 points, while the S&P 500 inched down 0.09%. Investors are focused on the Labor Department's report on non-farm payrolls, the unemployment rate and hourly wages, due at 8:30 a.m. Economists expect the economy to have added 200,000 jobs in November, according to Dow Jones.
ETProjected EPS: 84 centsProjected revenue: $1.59 billionCramer predicted it'll be difficult for the company to top its last "spectacular" quarter. Wednesday: Hormel Foods, Petco, Salesforce, OktaHormel FoodsQ4 2022 earnings release at 6:30 a.m. ETProjected EPS: 50 centsProjected revenue: $3.38 billionHormel might follow other food stocks that have stopped going down, Cramer said. ETProjected EPS: 16 centsProjected revenue: $1.49 billionHe said he's worried the company will report disappointing results. Thursday: Dollar General, Kroger, Ulta Beauty, Marvell TechnologyDollar GeneralQ3 2022 earnings release at 6:55 a.m.
The Club stocks most tied to China Estee Lauder (EL) and Starbucks (SBUX) are down about 1% in the premarket. Oppenheimer cut price target on chipmaker Marvell Technology (MRVL) to $80 per share from $90; sees slower enterprise. Morgan Stanley lowers Take-Two Interactive (TTWO) price target to $140 per share from $150 but keeps overweight (buy) rating. Citi raises price target on value retailer Five Below (FIVE) to $186 per share from $170; keeps buy rating. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
This means investors need to shift their focus toward longer-term prospects instead of fixating on near-term gyrations in the market. See below for five stocks picked by Wall Street's top pros, according to TipRanks, a platform that ranks analysts based on their previous performance. However, after the company posted its quarterly results, Susquehanna analyst Christopher Rolland noticed that Nvidia is "getting back on track." This prompted him to reiterate a buy rating on the stock and raise the price target to $185 from $180. (See Marvell Stock Chart on TipRanks) Looking beyond the quarter, Rolland sees several upsides to Marvell.
November's jobs report is the big event for markets in the week ahead, and it could provide important insight into the path of Federal Reserve interest rate hikes. The labor market has cooled only slightly, as other parts of the economy have slowed. But the labor market has been more resilient than expected, challenging the Fed's efforts to tame inflation by slowing economic activity. Besides the jobs report, there is the Job Openings and Labor Turnover Survey (JOLTS) report Wednesday, as well as the Fed's beige book on economic activity. "Holding above 4,000, as we await the jobs report and those other economic reports would be constructive for one more move before Christmas," he said.
Stocks finished higher on this holiday-shortened trading week, with all the major U.S. averages posting gains. Under the hood, all sectors closed higher for the week, led by utilities, materials and financials. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. The U.S. Federal Reserve, alongside global central banks, has been trying to get a handle on soaring inflation.
The advanced chips are what we want to focus on as those represent the big risk to the current world order should they fall into the wrong hands. As a result, it is simply too risky to allow China to continually gain an increasing controlling position over the semiconductor manufacturing process. For this reason, we think that as painful as it may be in the near term, the U.S. isn't wrong to block advancement in China. Lastly, don't forget, thanks to the latest restrictions, U.S. citizens risk losing their citizenship should they choose to help China pursue its advanced chip production goals. Along with these defensive actions, we are pleased to see more domestic support for the semiconductor industry.
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