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Alphabet CEO Sundar Pichai during the Google I/O developers conference in Mountain View, California, on May 10, 2023. Alphabet shares shot up 10% Friday morning after the company posted better-than-expected first-quarter results and greenlit its first-ever dividend and a $70 billion buyback. Earnings of $1.89 per share eclipsed the $1.51 in earnings per share expected by Wall Street. The company said the board also approved the repurchase of an additional $70 billion in stock. Among other price target boosts for the stock following Alphabet's earnings, JPMorgan increased its price target to $200 from $165, while Evercore ISI upped its target to $200 from $160.
Persons: Sundar Pichai, Oppenheimer, Morgan Stanley, durably, — CNBC's Michael Bloom Organizations: Google, LSEG, Wall, YouTube, Barclays, , JPMorgan Locations: Mountain View , California
Analysts from major firms, ranging from UBS to Bank of America, were encouraged by accelerated growth in Google Search, Cloud and YouTube seen in the previous quarter. GOOGL YTD mountain Google stock this year. Sandler kept his overweight rating and increased his price target by $27 to $200, which implies 28% potential upside from Thursday's close. Jefferies's Brent Thill maintained his buy rating and upped his price target by $20 to $200, saying shares are trading at an attractive valuation. His target price suggests only about 11% potential upside from Thursday's close.
Persons: Doug Anmuth, Anmuth, Ross Sandler's, Sandler, Jefferies's Brent Thill, Oppenheimer, Jason Helfstein, Justin, Ken Gawrelski, Gawrelski Organizations: Google, UBS, Bank of America, YouTube, JPMorgan, Barclays, , buybacks, & &
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNow's the time to buy Meta shares if you're a long-term investor: Oppenheimer's Jason HelfsteinJason Helfstein, Oppenheimer, joins 'Squawk on the Street' to discuss if Meta's concerns are about growth or spend, if Mark Zuckerberg has earned the right to be called a disciplined spender, and more.
Persons: Oppenheimer's Jason Helfstein Jason Helfstein, Oppenheimer, Mark Zuckerberg, spender
Comcast beat first-quarter earnings expectations on Thursday, as broadband drove revenue even as the company and its peers have seen customer growth slow. Revenue from the domestic broadband customers segment boosted that growth as rates increased, even as Comcast lost 65,000 customers during the quarter. The three businesses now report under the same segment, which collectively saw revenue rise 1.1% to $10.37 billion. The service added 3 million paid subscribers during the quarter, bringing its total number of customers to 34 million. While domestic advertising was flat during the quarter, the company saw its domestic distribution revenue increase, driven by the growth at Peacock.
Persons: NBCUniversal, Peacock, Oppenheimer Organizations: Comcast, LSEG, Revenue, Universal Pictures, CNBC Locations: Peacock, NBCUniversal
Bernstein reiterates Tesla as underperform Bernstein said it still sees minimal positive catalysts ahead for Tesla following earnings on Tuesday. Bank of America upgrades Tesla to buy from neutral Bank of America said it sees a slew of "positive catalysts" ahead for Tesla shares following earnings on Tuesday. Citi downgrades Molson Coors to sell from neutral Citi said it's concerned about slowing growth. Citi upgrades SiriusXM to neutral from sell Citi said the risk/reward is now more balanced. Citi reiterates Amazon as buy Citi raised its price target on the stock to $235 per share from $215.
Persons: Piper Sandler, Piper, Bernstein, Tesla, underperform Bernstein, KBW, Wells, Citi downgrades Molson, it's, Oppenheimer, Domino's, it's bullish, DPZ, SIRI, Morgan Stanley, Morgan Stanley it's, GenAI, Guggenheim, Enphase, Jefferies Organizations: Tesla, Mizuho, Bank of America, of America, Packaging Corporation of America, Citi downgrades, Citi downgrades Molson Coors, Citi, TAP, Deutsche Bank, Deutsche, Computer, Micro, Sea Limited, fintech JV, Amazon, Disney, Atlanta Braves, Braves, Microsoft Locations: Singapore, BNPL
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla's as much a story stock as it is a reality stock at this point, says Oppenheimer's Colin RuschColin Rusch, Oppenheimer senior research analyst, joins 'Squawk Box' to discuss Tesla's quarterly earnings results, growth outlook, Elon Musk's long-term strategy for the company, shift in buyer base, and more.
Persons: Colin Rusch Colin Rusch, Oppenheimer, Elon Musk's
Here are Tuesday's biggest calls on Wall Street: Loop initiates MongoDB as buy Loop sees growth accelerating for the developer data platform company. JPM reiterates General Motors and Ford as overweight JPMorgan said the stocks will benefit from "lower commodities & higher production outside China." JPMorgan upgrades Assai to overweight from neutral JPMorgan said it sees improving trends and better visibility for the Brazilian wholesaler. JPMorgan upgrades Roblox to overweight from neutral JPMorgan said it sees a "compelling entry point" for the stock. JPMorgan downgrades Five Below to neutral from overweight JPMorgan downgraded Five Below due to "ongoing macro pressure."
Persons: JPM, JPMorgan, KeyBanc, Wells, D.A, Davidson, Davidson's, Berenberg, Morgan Stanley, Harley, Evercore, it's bullish, it's, Tesla, Rosenblatt, Oppenheimer, Dwight, Key, Truist, Wolfe, Warner, Price Organizations: Motors, Ford, GM, Nvidia, MU, BMO, prem, NICE, JPMorgan, Barclays, Apple, Albertsons, Catalyst Watch, NOVA, Penn Entertainment, PENN, ESPN Bet, Benchmark, Qualcomm, Warner Brothers, Warner, HBO Locations: China, Texas, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailContext helps right-size market expectations, says John StoltzfusJohn Stoltzfus, Chief Investment Strategist at Oppenheimer Asset Management, discusses what he's watching within the markets today.
Persons: John Stoltzfus John Stoltzfus Organizations: Oppenheimer Asset Management
A solar energy company and a video game maker were highlighted by analysts Tuesday. Meanwhile, JPMorgan upgraded Roblox to overweight from neutral, and its new price target implies upside of more than 35%. — Pia Singh 5:43 a.m.: KeyBanc downgrades beaten-down solar stock Sunnova Energy Heading into first-quarter earnings, KeyBanc Capital Markets is cautious on residential solar names, particularly Sunnova Energy . Analyst Sophie Karp downgraded the Texas-based residential and commercial solar energy company to sector weight from overweight and removed her price target on the stock. It also raised its price target to $48 from $41, implying a 37% rally over the next 12 months.
Persons: KeyBanc, Oppenheimer, Dwight, Rupesh Parikh, Parikh, — Pia Singh, DataDog, Andrew Nowinski, Datadog, Nowinski, Yun Kim, Kim, MDB, KeyBanc downgrades, Sophie Karp, Karp, , Cory Carpenter, Carpenter, Fred Imbert Organizations: CNBC, JPMorgan, Loop Capital, Sunnova Energy, NOVA, SolarEdge Technologies, Enphase Energy Locations: Sunnova, Parikh, Wells Fargo Wells, Texas, U.S
New York CNN —Caitlin Clark is reportedly set to wear her own signature Nike sneaker in the WNBA. Now she’s set to sign an eight-year deal worth up to $28 million with Nike, according to the Wall Street Journal. The Athletic has reported that Clark’s deal includes a signature Nike shoe. CNN has not independently confirmed a deal between Clark and Nike. Nearly all major stars in the NBA have sneaker deals, including James, Kevin Durant and Luka Doncic with Nike and Stephen Curry with Under Armour.
Persons: Caitlin Clark, Clark, LeBron James, Serena Williams, Derek Jeter, James, Kevin Durant, Luka Doncic, Stephen Curry, Brian Nagel, Sabrina Ionescu, ” Brian Nagel Organizations: New, New York CNN, Nike, WNBA, Wall Street, CNN, State Farm, Gatorade, Panini, NBA, Oppenheimer, New York Liberty Locations: New York
Morgan Stanley reiterates Apple as overweight Morgan Stanley lowered its price target on the stock to $210 per share from $220 but says it's sticking with Apple. Bank of America reiterates Amazon as buy Bank of America said it's bullish heading into Amazon earnings next week. Bank of America reiterates Tesla as neutral Bank of America said it's sticking with its neutral rating on Tesla shares. Morgan Stanley upgrades Alcoa to equal weight from underweight Morgan Stanley said it sees a more balanced risk/reward for shares of Alcoa. Bank of America reiterates Apple as buy Bank of America says Apple is a top pick at the firm.
Persons: Goldman Sachs, Goldman, Morgan Stanley, it's, Piper Sandler, Piper, Apple, Q, Q revs, Papa, Stifel, Papa John's, Jefferies, Mizuho, JPMorgan, Raymond James downgrades, Raymond James, TD Cowen, BRBR, BMO downgrades, Tesla, Oppenheimer Organizations: Nvidia, NVIDIA, RBC, Apple, Microsoft, Meta, Bank of America, JPMorgan, Cisco, Deutsche Bank, Realty Trust, Deutsche, Brands, BMO, of America, Alcoa, Kymera Therapeutics, " Bank of America Locations: Singapore, Asia, Brazil
The stock market is poised for a short-term bounce, but technical analysts who watch price charts warn that the correction is not yet over. The technician said he anticipates support for stocks — the point at which buyers will reemerge — between 4,700-4,800 in the S & P 500. .SPX YTD mountain S & P 500 To be sure, some observers anticipate a more durable stock market rally, rather than a mere bounce. He anticipates that the S & P 500 could find support down at 4,800 and may not find a true bottom for several weeks. But he anticipates that the selloff will take longer to play out, with a pullback bringing the S & P 500 back to 4,700.
Persons: JC O'Hara, Roth MKM, O'Hara, Tom Lee, Lee, CNBC's, Oppenheimer's Ari Wald, Wald, we've, BTIG's Jonathan Krinsky, Krinsky, Wolfe's Rob Ginsberg Organizations: Stocks, Federal Reserve
Morgan Stanley reiterates Ford and General Motors at overweight Morgan Stanley remains bullish on both automakers. Loop initiates DoorDash as buy Loop said in its initiation of the stock that it has more earnings potential. We think that years of debate over viability and earnings potential of on-demand gig platforms has been settled." Morgan Stanley upgrades Shopify to overweight from equal weight Morgan Stanley said market share gains are increasing for Shopify. Morgan Stanley reiterates Microsoft at overweight Morgan Stanley said it's bullish heading into earnings next week. "
Persons: Oppenheimer, Morgan Stanley, Ford, Mizuho, Jefferies, Ulta, they've, Riley, we've, Wells, Sunnova, it's, we're, Edward Jones downgrades Hershey, Edward Jones, Hershey, Wolfe, Raymond James downgrades, Raymond James, Dell, Needham, Baird, COLM Organizations: Nvidia, General Motors, GM, Mizuho, Netflix, Bank of America, Lam Research, NOVA, " Bank of America, Meta, JPMorgan, Charlotte, Shopify, RBC, Inspire, Systems, Microsoft, UBS, Columbia Locations: U.S, Charlotte , North Carolina
"We are initiating coverage of Samsara (IOT) with a Buy rating and $42 price target." Deutsche Bank adds a catalyst call buy on Estee Lauder Deutsche added a short-term buy rating on shares of the beauty giant. Bernstein reiterates Apple as market perform Bernstein said it's getting more "constructive" on Apple shares but is sticking with its market perform rating for now. "We are initiating coverage of AES with a Buy rating and $21PT. "We are initiating coverage on shares of Beacon Roofing Supply (BECN), a leading roofing products distributor in the United States, with a Buy rating and $135 PT."
Persons: Goldman Sachs, Goldman, Oppenheimer, JPMorgan, Lauder Deutsche, Mizuho, TD Cowen, Cowen, it's, Bernstein, Jefferies, Kite, Kite Realty Jefferies, GE Vernova, Tesla, Needham, Andy, BTIG, Davidson, Barnes, Morgan Stanley downgrades, Morgan Stanley, Etsy, Rosenblatt, Swift, Janney Organizations: Bank of America, Cisco Systems, Goldman Sachs, P, JPMorgan, JetBlue, Bancorp, SPT, Oracle, Deutsche Bank, Linde, Mizuho, LIN, Nvidia, Apple, Kite Realty, GE, Metro NY, SSS, Deutsche, Infrastructure, FTAI Infrastructure, BMO, New, AMC, Barnes Group, AES Corporation, AES, eBay, EBAY, UW, ZS, Comcast, CNBC, Benchmark, Beacon Locations: New York City, OW, United States
Within days, millions of TikTok videos using music from Universal artists went mute, and since then guessing which side would blink first has become a media-business parlor game. Backing this up, one study found that TikTok users reported experiencing higher levels of flow than Instagram users. Corey Basch, who analyzed 100 popular TikTok videos with the hashtag mentalhealth for a 2022 study, emerged concerned about the looping effect of the algorithm. Cerave Sales increased by more than 60 percent in 2020 after skin care became a lockdown pastime and TikTok users discovered the drugstore mainstay. Cat Crack Catnip It briefly sold out in 2021 after TikTok users posted videos of their cats going crazy for it.
Persons: randos, TikTok, you’ve, Sydney Sweeney, Glen Powell, , “ Wonka, Barbie, “ Oppenheimer, , goofing, cavorting, Sue Fleishman, Z’s Walter Cronkite, Spehar, Donald J, Trump, he’s, Caitlin Clark’s, Joe Biden, Justin Bieber, Abbie Richards, Richards, Britney Spears, Taylor Swift, Olivia Rodrigo, Lil Nas X, Fleetwood Mac, Rodrigo, Billie Eilish, Drake, Swift, ByteDance, can’t, Mark Warner, hasn’t, Al, ear on, Li Organizations: Fleetwood Mac, Facebook, Sony, Universal, Warner Bros, White, Pew Research Center, YouTube, The New York Times, Kansas City Chiefs, Media, Colgate, Universal Music Group, ByteDance, Intelligence Committee, e Locations: United States, Beijing, Biden’s, TikTok, Singapore, View, Calif, China, American
Washington CNN —On Tuesday, late-night television host Jimmy Kimmel delivered another monologue making fun of former President Donald Trump. On Wednesday morning, the presumptive Republican presidential nominee fired back on social media — in part by attacking Kimmel for something Kimmel didn’t do. Kimmel wasn’t the person who delivered an unusual, abrupt performance in announcing the Best Picture award won by “Oppenheimer”; that was actually legendary actor Al Pacino, whom Kimmel had introduced. “In fairness to our former President, many stable geniuses confuse me with Al Pacino….,” Kimmel wrote Wednesday afternoon on the platform X, formerly known as Twitter. The presidential campaigns of Trump and President Joe Biden have traded barbs about each candidate’s verbal slip-ups; the Biden campaign mocked Trump on social media for this latest error.
Persons: Jimmy Kimmel, Donald Trump, Kimmel, Trump, , ’ ” Trump, “ Oppenheimer, Al Pacino, Pacino, Oscar, Patrick T, Fallon, Al Pacino …, ” Kimmel, Joe Biden, Biden Organizations: Washington CNN, Academy, Dolby Theatre, Getty, Twitter, Trump Locations: Hollywood , California, AFP
A group of stocks are about to form a chart pattern that suggests investors are bearish: the worrisome death cross. A death cross encompasses a price chart pattern that emerges when a stock's 50-day moving average slips below its 200-day moving average. Moreover, a death cross is also touted as a predictor of a forthcoming bear market pattern. CNBC used data from FactSet to screen for stocks that are approaching a death cross, and found four names including fast-food giant McDonald's and athleisure brand Lululemon . McDonald's is once again flashing a death cross signal.
Persons: McDonald's, FactSet, Lauren Silberman, LULU, Oppenheimer, Brian Nagel, , Nick Wells Organizations: CNBC, Alonyal, Deutsche Bank, FactSet Locations: Israel
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOppenheimer's Chris Kotowski breaks down Goldman Sachs' Q1 earningsChris Kotowski, Oppenheimer analyst, joins 'Squawk on the Street' to discuss Goldman Sachs' quarterly earnings results, how the bank measures with competition, and what to expect from the financials going forward.
Persons: Chris Kotowski, Goldman Sachs, Oppenheimer
What history shows: Goldman Sachs beats earnings estimates 85% of the time, according to Bespoke Investment Group. What CNBC is watching: Bank of America shares have struggled lately, losing 5.6% this month as investors reprice rate cut expectations. Morgan Stanley is set to report earnings before the open. United Airlines is set to report earnings after the close. Thursday Netflix is set to report earnings after the close.
Persons: Goldman Sachs, Morgan Stanley, JPMorgan Chase, Goldman, Devin Ryan, Morgan, Ryan, UNH, UnitedHealth, LSEG, UAL, Leslie Josephs, Oppenheimer, Jason Helfstein, Procter & Gamble, Dara Mohsenian, Procter Organizations: Bank of America, Netflix, JPMorgan, CNBC, JMP Securities, Investment, Tuesday Bank of America, UBS, BofA, Dow Jones Industrial, Street, United Airlines, Boeing, Max, Federal Aviation Administration, San Francisco, United, Procter & Locations: Charlotte, San, U.S, China
Hollywood executives — not all, but most — have insisted for years that uncomfortable, thought-provoking, original movies can no longer attract big audiences at the box office. Alex Garland’s dystopian “Civil War,” set in a near-immediate future when the United States is at war with itself, sold an estimated $25.7 million in tickets at North American theaters, enough to make the film a strong No. 1, surpassing the monsters sequel “Godzilla x Kong: The New Empire.” Ticket sales for “Civil War” exceeded the prerelease expectations of some box office analysts by roughly 30 percent. IMAX screenings provided nearly 50 percent of the “Civil War” gross. “Civil War,” starring Kirsten Dunst as a journalist on a military embed, became the latest example of ticket buyers breaking with Hollywood’s conventional wisdom about what types of films are likely to pop at the box office.
Persons: , Alex Garland’s, , Kirsten Dunst, Christopher Nolan’s “ Oppenheimer Organizations: North, Locations: United States
The series follows an agent referred to only as the Captain (Hoa Xuande), who's half-Vietnamese and half-French. Aligned with North Vietnam, he's embedded within the South Vietnam army. Critics have generally praised the series, particularly Xuande's performance and Park's direction (in addition to showrunning duties, he directs the first three episodes). Here's a breakdown of where some reviewers stand ahead of the series premiere on HBO Sunday evening. AdvertisementVariety's Alison Herman says that splitting Downey into parts both "deploys and diffuses" the impact of his celebrity on the series.
Persons: Viet Thanh Nguyen's Pulitzer, Hoa, Critics, , Viet Thanh Nguyen, Chan, Don McKellar, he's, Robert Downey Jr, Xuande, Hopper Stone, Alan Sepinwall, IndieWire's Ben Travers, Tran Bui, Beth Dubber, weren't, Robert Downey's, Laura Sirikul, Sirikul, Variety's Alison Herman, Herman, Christopher Nolan's, Oppenheimer, Nick Schager, Downey, Sandra Oh, Park Chan, Nguyen's, Judy Berman, Rory Doherty, lauds, Doherty, Inverse's, Fred Nguyen Khan, Duy Nguyen, Sepinwall, IndieWire's Travers, Richard Lawson, Schager, Thanh, Fair's Lawson, Marina Fang Organizations: HBO, Viet Thanh, Service, Downey, Stone, Daily Locations: Viet, North Vietnam, Vietnam, United States, Korean
The e-mini futures contracts tied to the S & P 500 just posted their third negative "outside day" in the past eight sessions. Outside days happen when the range of a security's price sees higher highs and lower lows than it did the day before. The previous day's trading period should be smaller in range and should have closed higher. It also posted negative outside days on April 4 and April 1. Chart analysts are shrugging off the recent trio of outside down days, however, saying they don't threaten the longer-term up trend.
Persons: Tom Fitzpatrick, R.J, O'Brien, Ari Wald, Oppenheimer, Will Tamplin, Nick Wells
Goldman Sachs reiterates Alphabet as buy Goldman said it's sticking with its buy rating following the company's Google Cloud Next event. "We are initiating coverage of Airbnb (ABNB) with a BUY rating and a $190 per share price target." "Following a period of restriction, we are moving to an Overweight rating and a December 2024 price target of $140." "Given the increase in stock price, we believe valuation levels have disconnected from the fundamental outlook." Piper Sandler reiterates Meta as overweight Piper raised its price target on the stock to $600 per share from $525. "
Persons: Evercore, it's bullish, Goldman Sachs, Goldman, Berenberg, TD Cowen, Visa, Oppenheimer, it's, Snowflake, Raymond James, Simona Jankowski, Wells, Morgan Stanley, Moffett, We've, Marsh, Bernstein, Kenvue, underperform Bernstein, Johnson, Needham, Airbnb, CVX, TTE, Piper Sandler, Meta, Piper, Wells Fargo Organizations: JPMorgan, Apple, Mastercard, Barclays, Nasdaq, Nvidia, UBS, Gartner, IT, Deutsche Bank, ATI, Deutsche, Disney, Microsoft, TEAM, " Bank of America, Nike, of America, Citi, Robinhood, MMC, Qualcomm, Johnson, Consumer, Scotiabank, Hamilton Insurance, Costco, ~$ Locations: Albemarle, Chevron
Imax CEO Richard Gelfond told BI "Joker: Folie à Deux" will be shown in Imax 70mm. Only 30 theaters in the world can show a movie in Imax 70mm. AdvertisementDirector Todd Phillips' anticipated "Joker: Folie à Deux," the sequel to his hit 2019 movie "Joker," will get the theatrical release treatment previously given to the likes of Christopher Nolan and Denis Villeneuve. "Joker: Folie à Deux" will be shown in Imax 70mm, the company's CEO Richard Gelfond told Business Insider on Tuesday at CinemaCon hours before Warner Bros. world premiered the movie's trailer at the annual movie-theater convention in Las Vegas. This story is available exclusively to Business Insider subscribers.
Persons: Richard Gelfond, Oppenheimer, , Todd Phillips, Christopher Nolan, Denis Villeneuve Organizations: Service, Warner Bros, Business Locations: Las Vegas
Shares of Alphabet are on the verge of a possible breakout ahead of the company's three-day Google Cloud Next conference in Las Vegas, where artificial intelligence will be a major theme. Shortly after the trade, Alphabet shares ran into a brick wall after some advertising weakness surfaced in fourth-quarter results and was followed by a controversy over Gemini's image generator that caused the company to pull the tool. The conference is expected to show that "Google is not being left behind, not being troubled by Search," Jim said. That said, we expect Tuesday's AI conversation to be limited to how it relates to Google Cloud. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Thomas Kurian's, Nvidia —, bottoming, Jim Cramer, Jim, Nikesh Arora, Anthropic, Dario Amodei, Ford Yao Ge, Nik Spirin, Oppenheimer, Claude, Jim Cramer's Organizations: Google Cloud, Google, Microsoft, Super, Apple, Nvidia, Management, CNBC, Amazon, Bank of America, Palo Alto, Ford, Apple's Worldwide, Getty Locations: Las Vegas, Palo Alto, Amazon, OpenAI
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