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Analysts point to receding recession concerns and the prospect of a less aggressive policy stance from the U.S. Federal Reserve as factors fuelling hopes for a broader market rally. The second quarter earnings season has started positively for cyclical sectors, with over a quarter of the global companies announcing their results so far, Refinitiv Eikon data showed. "The upcoming earnings season has the potential to broaden the rally for sure. However, there are plenty of laggards especially in cyclical sectors such as financials and consumer discretionary, which are available at attractive valuations, analysts say. Over the past month, the communication services, mining and financial sectors have all posted about 5% gains, outpacing the tech sector's modest 2% rise.

Persons: Puneet Singh, Singh, Alastair Pinder, Derek Izuel, Patturaja Murugaboopathy, Noel Randewich, Vidya Ranganathan, Alison Williams Organizations: U.S . Federal Reserve, Reuters, Societe Generale, Carnival Corp, Equity, Nasdaq, Intelligence, Royce, Reuters Graphics Reuters, HSBC Research, Shelton Capital Management, Thomson Locations: U.S, Singapore, Asia, Europe, California

☆ A key test for EV sales and the adoption curve is coming
▼ + stars: | 2023-07-30 | by ( Tim Mullaney | ) www.cnbc.com time to read: +10 min

The company says it will reach 400,000 cumulative units of EV production by early 2024 and that its EV business will reach profitability by 2025. "They have dozens of EV models over the next two to three years. watch nowAmong analysts who believe the stock is due for a bigger drop, expected EV sales disappointment is among the factors. But GM's EV plans come as Ford announced it is slowing down its plans to expand EV production to a 600,000 annual rate. "This will be the first year U.S. EV sales reach 1 million," Downey said.

Persons: Scott Mlyn, Brian Downey, Autotrader, Ford, Dan Ives, It's, they'll, Morgan Stanley, Adam Jonas, Mary Barra, Adam Jones, Colin Langan, Garrett Nelson, Chad Lyons, Lyons, Katie Minter, Rebecca Cook, Reuters Paul Jacobson, Jacobson, Ives, Downey, Tesla, Barra, they're, they've, Cox, Goodcarbadcar.net . Ford Organizations: Silverado, New York Auto Show, CNBC, General Motors, Cox Automotive, Kia, Porsche, Hyundai, Chevrolet Silverado, Wedbush Securities, Investors, GM, United Auto Workers union, Wall Street, Deutsche Bank, GMC Hummer EV, Chevy Silverado, GMC Sierra EV, Chevy Blazer, GMC, Blazers, Jaguar, Audi, North American, Reuters, EV, Cox, Ford's, Ford, Goodcarbadcar.net, Volkswagen, BMW – Locations: Detroit, Detroit , Michigan, U.S

☆ I’m a neuroscientist and mom—5 phrases I never say to raise smart and emotionally intelligent kids
▼ + stars: | 2023-07-30 | by ( Caroline Leaf | ) www.cnbc.com time to read: +3 min

I know how hard it is to raise capable and emotionally intelligent kids. What I say instead: "I see you're feeling frustrated and are doing things you don't normally do. What I say instead: "I need a moment to cool down. What I say instead: "I hear you. What I say instead: "Would you like me to hold you and comfort you?"

Persons: I've, they're

☆ The 'richcession' isn't happening. The ultra-wealthy have never been richer and they're still spending like crazy.
▼ + stars: | 2023-07-29 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Experts say the richest are actually even richer and spending more than they were before the pandemic. Most Americans now have "spent up" demand for goods, but still have pent up demand for services, Zandi says. In her experience, luxury spending is highly correlated with the stock market, and investors have enjoyed handsome returns so far this year as the S&P 500 rebounds from its 2022 lows. The luxury services sector was a particular hot spot. "If this is a richcession, the rich are probably saying, bring it on," Zandi said.

Persons: they've, Mark Zandi, Zandi, they're, Rather, pricey Taylor Swift, Taylor Swift, Patek Philippe, Claudia D'Arpizio, D'Arpizio, Scott Dunn, Bridget Lackie, Lackie, Jennifer Stillman, Douglas Elliman, we've, Stillman Organizations: Service, Wall Street, Rolex, Bain & Company Locations: YOLO, Wall, Silicon, New York

July 27 (Reuters) - Royal Caribbean Group (RCL.N) raised its full-year profit forecast on Thursday, betting on higher ticket prices and resilient demand for leisure travel from affluent customers, sending shares surging. Royal Caribbean's shares were up 8.1% at $109.01 in premarket trading as it also forecast third-quarter adjusted profit above estimates. The company expects an adjusted profit between $3.38 and $3.48 per share in the third quarter, compared with estimates of $2.89 per share. Royal Caribbean expects annual adjusted profit between $6.00 and $6.20 per share, compared with its earlier forecast of $4.40 to $4.80 per share. Shares of rival operators Carnival Corp and Norwegian Cruise Line Holdings rallied in tandem following Royal Caribbean's results, gaining 5.2% and 4.7%, respectively.

Persons: Caribbean's, Jason Liberty, Granth, Shounak Dasgupta Organizations: Royal Caribbean Group, Royal Caribbean, Carnival Corp, Cruise Line Holdings, Thomson Locations: Royal Caribbean, Bengaluru

☆ Southwest Airlines shares slide as costs rise, unit revenues slip
▼ + stars: | 2023-07-27 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Southwest Airlines Boeing 737-700 aircraft as seen landing at dusk time at Ronald Reagan Washington National Airport DCA in Arlington County, Virginia over the Potomac River in the United States of America flying over water and buildings. Southwest Airlines shares slid more than 6% in premarket trading Thursday after the airline reported lower unit revenue and higher costs during the second quarter — and said the trends are likely to continue this quarter. The Dallas-based airline's second-quarter unit revenue dropped 8.3% from a year earlier, Southwest said, citing a policy change last summer that removed expiration dates from pandemic travel credits. The carrier said it expects unit revenue to fall as much as 7% during the third quarter on capacity up 12% from a year earlier. Airlines have enjoyed record revenue in recent months, but airfare in the U.S. has dropped from 2022, according to the latest inflation read.

Persons: Ronald Reagan, it's, Bob Jordan, they're Organizations: Southwest Airlines Boeing, Ronald Reagan Washington National Airport DCA, Southwest Airlines, Airlines, Southwest, Revenue Locations: Ronald Reagan Washington, Arlington County , Virginia, United States, America, Dallas, U.S

☆ Ford balances growth and profits in a promising quarter, keeps its stock rating
▼ + stars: | 2023-07-27 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Earnings before interest and taxes (EBIT) increased slightly to $3.79 billion, well ahead of analysts' predictions for EBIT of $3.16 billion. With Thursday's results, management shows it is playing to win and that the fourth quarter was an outlier. Strong profitability and cash flow generation overall in the second quarter provided the much-needed offset. Quarterly commentary Ford Blue, which represents Ford's gas-powered and hybrid vehicles, delivered a strong quarter and was again profitable in every region in which it operates. By segment, Ford expects Ford Blue to deliver full year EBIT of "about $8 billion," up from about $7 billion, and Ford Pro's EBIT to be "approaching $8 billion," up from $6 billion.

Persons: Jim Farley, we've, Farley, we're, Ford, Ford Pro's, Jim Cramer's, Jim Cramer, Jim, Jeff Kowalsky Organizations: Ford, Refinitiv, Management, Ford Model, Ford Pro, CNBC, Electric Vehicle, AFP, Getty Locations: North America, Europe, EBIT, Dearborn , Michigan

☆ Sony PlayStation 5 console sales pass 40 million
▼ + stars: | 2023-07-27 | by ( Sam Nussey | ) www.reuters.com time to read: 1 min

TOKYO, July 27 (Reuters) - Sony Group Corp (6758.T) has sold more than 40 million PlayStation 5 consoles, its gaming division said on Thursday, citing the easing of supply chain problems. "It took months for supply chains to normalise so we could have the inventory to keep up with demand," Sony Interactive CEO Jim Ryan wrote in a blog post. "Now PS5 supply is well-stocked and we are seeing that pent up demand finally being met." The Japanese tech and entertainment conglomerate has said it expects to sell 25 million PS5 units this year, which would be a record for any PlayStation device. Sony's latest console is closing the gap with the PS4 console, said Piers Harding-Rolls, analyst at Ampere Analysis.

Persons: Jim Ryan, Piers Harding, Sam Nussey, David Goodman Organizations: Sony Group Corp, Sony Interactive, Ampere Analysis, Thomson Locations: TOKYO

☆ IMF raises growth forecast for India, which is set to be fastest growing major economy in 2023
▼ + stars: | 2023-07-26 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

The International Monetary Fund raised its 2023 growth forecast for India by 20 basis points to 6.1%, bolstering expectations that the current G20 chair will be the world's fastest growing major economy this year. Still, the IMF expects China to grow by 5.2% this year and 4.5% next year. The IMF then expects growth in the Japanese economy to slow to 1.0% in 2024, as the effects of past stimuli dissipate. The IMF raised its 2023 global growth prediction by 0.2 percentage point to 3%, up from 2.8% in its April assessment. The IMF kept its 2024 growth forecast unchanged at 3%.

Persons: China's Organizations: Monetary Fund, Economic, IMF Locations: Allahabad, India, Beijing, China, Asia, Japan, U.S

Mortgage rates spent the first half of July climbing, but they've since receded a bit and are now holding steady. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-year Fixed Mortgage RatesThe current average 30-year fixed mortgage rate is 6.78%, according to Freddie Mac. 15-year Fixed Mortgage RatesThe average 15-year fixed mortgage rate is 6.06%, down 24 points from the prior week, according to Freddie Mac data. But average 30-year fixed rates will likely remain somewhere in the 6% to 7% range throughout 2023.

Persons: —, Lawrence Yun, homebuyers, Yun, you'll, Freddie Mac Organizations: National Association of Realtors, NAR, Federal Reserve, Zillow Locations: Chevron

☆ Analysis: Is Canadian core inflation about to crack? July data could offer hope
▼ + stars: | 2023-07-25 | by ( Fergal Smith | ) www.reuters.com time to read: +3 min

The monthly increases for both measures have been 0.3% or less in seven of the last eight months. The BoC, which will release minutes from its July meeting on Wednesday, has said it doesn't want to tighten more than is needed. Canadians are particularly sensitive to higher borrowing costs after loading up on debt in recent years as house prices soared. The July inflation data is due for release on Aug. 15. Reporting by Fergal Smith; Editing by Denny Thomas and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Benjamin Reitzes, Reitzes, Royce Mendes, Mendes, Fergal Smith, Denny Thomas, Jonathan Oatis Organizations: TORONTO, Bank, Canada's, BoC, BMO Capital Markets, Reuters Graphics Reuters, Bank of Canada, Desjardins, Thomson Locations: Helpfully

☆ US auto sales expected to rise again in July - S&P Global Mobility
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

July 24 (Reuters) - New U.S. light vehicle sales volumes are set to rise again in July as easing supply-chain snags help automakers ramp up production to meet pent-up demand, automotive research firm S&P Global Mobility said on Monday. S&P projects new light vehicle sales to reach 1.33 million units in July, up 18% year-over-year. It also upgraded the 2023 U.S. light vehicle sales forecast to 15.4 million units, from 15.1 million estimated earlier. Top global automakers have reported a rise in second-quarter new vehicle sales on improving supply and strong demand, signaling that rising interest rates are yet to have a meaningful impact on purchases. "New light vehicle sales will continue to progress in July, reflecting the current trend of sustained demand levels to the fleet sector while retail sales continue to climb," said Chris Hopson, principal analyst at S&P Global Mobility.

Persons: Chris Hopson, Kannaki, Devika Organizations: P Global Mobility, Thomson Locations: New U.S, U.S, Bengaluru

☆ Opinion | The Hunger Fed by ‘Barbie’ and Taylor Swift
▼ + stars: | 2023-07-24 | by ( Michelle Goldberg | ) www.nytimes.com time to read: +2 min

“What happens in the crowd is messy, wild, benevolent and beautiful,” Amanda Petrusich wrote in The New Yorker about a Swift concert. It’s too contradictory!”The important part of this monologue — spoilers ahead — is not only what it articulates, but what it accomplishes. “By giving voice to the cognitive dissonance required to be a woman under the patriarchy you robbed it of its power!” exclaims the film’s heroine, Stereotypical Barbie, played by Margot Robbie. And, ultimately, as difficult as being an adult woman is, Robbie’s Barbie chooses it over remaining in the sexless girlhood idyll of Barbieland, as we learn in the film’s perfect last line. Given the evident hunger out there for entertainment that channels female angst, it would make sense for Hollywood, once the writers’ and actors’ strikes are over, to do more to cultivate female writers and directors.

Persons: Amanda Petrusich, Barbie, Guardian she’d, “ I’ve, America, Gloria, “, Barbies, ”, Margot Robbie, Robbie’s Barbie, ’, “ Barbie, Swift, Greta Gerwig, “ Barbie ” Organizations: Yorker, Guardian, Hollywood, Center, Women, ” Searchlight Pictures

☆ Europe’s largest airline just sounded the alarm on travel demand
▼ + stars: | 2023-07-24 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —The travel industry has defied a global economic slowdown, enjoying record bookings and profits as pent-up demand following the pandemic fueled spending on air tickets and hotels. Ryanair (RYAAY), Europe’s largest airline by passenger numbers, warned Monday that high inflation and rising interest rates could dent appetite for air travel in the second half of the year. The airline now expects to carry 183.5 million passengers in the 12 months ending in March 2024. The Dublin-based airline — which on Friday announced plans to return to Ukraine within weeks of the war ending — forecast “modest” profit growth for the full year. The latest figure marks a significant turnaround for the aviation industry, which suffered net losses of $183 billion between 2020 and 2022 as pandemic lockdowns hit travel.

Persons: “ We’re, Michael O’Leary, ”, Jet2, O’Leary, — Organizations: London CNN, Ryanair, EasyJet, Boeing, International Air Transport Association Locations: Europe’s, Ukraine, Dublin

☆ Italian farmer battles frost, floods, heat and hail in epic year
▼ + stars: | 2023-07-20 | by ( Claudia Greco | ) www.reuters.com time to read: +3 min

[1/5] A farmer stands next to a greenhouse in a field covered with cracked solidified mud, in the aftermath of deadly floods in Emilia-Romagna, in Forli, Italy June 1, 2023. REUTERS/Claudia Greco/File PhotoFORLI, Italy, July 20 (Reuters) - Farmer Andrea Ferrini is on the frontline of climate change in Italy and it is hurting. The following month, rains and floods swept the region, killing 15 people, causing billions of euros' worth of damage and hitting agriculture particularly hard. According to the Coldiretti agricultural association, more than 5,000 farms were left under water in the region, which accounts for a third of Italy's fruit harvest, including Ferrini's smallholding. "A farmer prepares all year round for the harvest and then sees his crop destroyed in just a few minutes or a few hours.

Persons: Claudia Greco, Farmer Andrea Ferrini, Ferrini's, Ferrini, Crispian Balmer, Janet Lawrence Organizations: REUTERS, Thomson Locations: Emilia, Romagna, Forli, Italy, FORLI, Po

☆ US home prices stay near record high, even as sales drop in June
▼ + stars: | 2023-07-20 | by ( Anna Bahney | ) edition.cnn.com time to read: +6 min

Even after falling, June’s median price hit the second-highest monthly median price on record going back to 1999, according to a National Association of Realtors report released Thursday. The median existing home price was $410,200 last month, just 0.9% less than the all-time high from one year ago of $413,800. It marked the fifth month of year-over-year drops in median home sale prices. “Relatively high mortgage rates near 7% and historically low inventory of existing homes on market is hindering sales activity,” said Yun. The pent-up demand will surely be realized soon, especially if mortgage rates and inventory move favorably.”Home prices remain highOne of the reasons home prices remain high is because It’s summer.

Persons: ”, Lawrence Yun, —, Yun, “, “ It’s Organizations: DC CNN, National Association of Realtors, NAR, “, downer Locations: Washington

☆ Construction of new homes fell 8% in the US last month
▼ + stars: | 2023-07-19 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Builders are benefiting from the lack of existing homes for sale as owners hunker down, but higher mortgage rates pose a threat, said Odeta Kushi, deputy chief economist at First American Financial Corporation. Holding household income constant, the increase in mortgage rates reduced home-buying power by approximately $10,000, Kushi said. “There remains pent-up demand in the housing market, but higher rates put a strain on affordability,” said Kushi. Builders remain ‘cautiously optimistic’Builder confidence remains high despite concerns about rising rates. The National Association of Home Builders/Wells Fargo Housing Market Index gauges market conditions and looks at current sales, buyer traffic and the outlook for sales of new construction homes over the next six months.

Persons: ”, Robert Frick, “, it’s, Odeta Kushi, Freddie Mac, Kushi, Alicia Huey, Robert Dietz, Dietz Organizations: DC CNN, Housing, Census, Navy Federal Credit Union, First American Financial Corporation, National Association of Home Builders, NAHB, Federal Reserve, Builders Locations: Washington, Wells Fargo

One senior Taiwan fund manger told Reuters that third quarter profit would bounce back given expectations for AI demand and launches of new iPhones ahead of the year-end holiday shopping season. The second quarter is traditionally a slow period for sales for the tech industry with demand usually picking up in the third quarter and towards the year-end shopping season. TSMC , Asia's most valuable listed company, posted a surprise rise in net profit for the quarter ended March, up 2% from a year earlier. The company will provide guidance for the third quarter and update previous forecasts on its earnings call at 0600 GMT on Thursday. ($1 = 30.9600 Taiwan dollars)Reporting by Faith Hung and Ben Blanchard Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: TSMC, TSMC's, Faith Hung, Ben Blanchard, Shri Navaratnam Organizations: TAIPEI, Taiwan Semiconductor Manufacturing Co, Nvidia, Reuters, Investment, EV, Thomson Locations: Taiwan, China, Taipei

☆ Are Cruises ‘Corny’? Some First-Time Passengers Looking for a Deal Say Maybe Not.
▼ + stars: | 2023-07-18 | by ( Ceylan Yeginsu | More About Ceylan Yeginsu | ) www.nytimes.com time to read: +1 min

It wasn’t just the horror stories about passengers stuck on cruise ships during the pandemic (though that was part of it). “I always thought of cruises as corny vacations for the elderly,” said Mr. Brown, 32, a member of the logistics team at the New York streetwear company Supreme. “You get to see all these different places and can take day trips without having to lug your baggage around,” Mr. Brown said. Out of the 4,500 respondents who took their first cruise, 88 percent of millennials and 86 percent of Gen X said they would do it again, according to CLIA. The association projects cruise tourism to reach 106 percent of 2019 passenger volume in 2023.

Persons: Holden Brown, “, ”, Brown, Genevieve, ” Mr, Gen X Organizations: Norwegian Prima, Cruise Lines International Association Locations: York, Norwegian, Barcelona, Rome, Florence, Italy, Valencia, Ibiza, Spain, Cannes, France, millennials

☆ Risking revival of unrest, Iran rulers tighten curbs on dissent
▼ + stars: | 2023-07-18 | by ( Parisa Hafezi | ) www.reuters.com time to read: +4 min

Police on Sunday announced that the morality police force has intensified its crackdown on women flouting the compulsory dress code. Security forces crushed months of unrest during which protesters from all walks of life called for the downfall of the Islamic Republic and women took off and burned the compulsory headscarves in fury. "The Islamic Republic feels threatened. By redeploying the morality police, the regime is fuelling the people's revolution," said Atena Daemi, a prominent human rights activist in Iran. "People are very angry due to repression, rights violations and worsening economic problems.

Persons: Mahsa, Amini, Atena Daemi, Mohammad Khatami, Parisa, Michael Georgy, Angus MacSwan Organizations: West Asia News Agency, REUTERS, Islamic, Police, Sunday, Thomson Locations: Tehran, Iran, WANA, DUBAI, Islamic Republic, Republic

☆ Opinion | A Look Back at Our Coming War With China
▼ + stars: | 2023-07-18 | by ( Carlos Lozada | ) www.nytimes.com time to read: +4 min

For instance, what if China seeks to take the island by force and Washington opts to not respond? Published in 2021, “2034,” is basically a beach read about how we get to nuclear war. In “The Avoidable War,” Rudd cautions that the incentives for Beijing and Washington to escalate hostilities, whether to save lives or save face, “could prove irresistible.” Ackerman and Stavridis follow that script. Both the United States and China view themselves in exceptional terms, Allison explains, as nations of destiny. “China will be a falling power far sooner than most people think,” Brands and Beckley declare.

Persons: ” Kevin Rudd, ” Rudd, Rudd, ”, Elliot Ackerman, James Stavridis, “, Allison, Thucydides, ” Ackerman, —, Xi Jinping, China’s Organizations: Marine, NATO, Harvard, U.S, . Security, Brands, Beckley, ” Brands Locations: Xi, China, Australia, Taiwan, Washington, Munich, United States, Iraq, Afghanistan, South China, U.S, Beijing, San Diego, Shanghai, India, New York, New Delhi, America, China’s, Beckley

☆ Instant View: China's Q2 GDP growth slows to 0.8% q/q, raises stimulus expectations
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +11 min

"Consumers are not spending, mainly driven by the bleak outlook for the property market. Disappointing retail numbers and property market sales show it doesn't seem that the boost from rate cuts is sufficient. ..the property market is beginning another slowdown - the government will have to come up with more stimulus for property." "Nonetheless, we think more stimulus is required to stabilise and restore confidence in the property market." ZHIWEI ZHANG, CHIEF ECONOMIST, PINPOINT ASSET MANAGEMENT, HONG KONG"Nominal GDP growth turns out to be lower than real GDP growth in Q2, the first time since comparable data are available in Q4 2016.

Persons: CHRISTOPHER WONG, LOUIS KUIJS, CAROL KONG, XING ZHAOPENG, KEN CHEUNG, ALVIN TAN, VISHNU VARATHAN, MARCO SUN, CHEN, TONY SYCAMORE, ZHIWEI ZHANG, JING LIU Organizations: Gross, National Bureau, Statistics, Shanghai, NBS, BANK OF, ANZ, MIZUHO BANK, OF, OF ASIA FX, RBC, MUFG BANK, IG, SYDNEY, Friday's, BANK OF SINGAPORE, HSBC, stoke, Authorities, Reuters, U.S, Thomson Locations: U.S, SINGAPORE, ASIA, HONG KONG, SYDNEY, CHINA, SHANGHAI, OF ASIA, China

☆ Analysis: BOJ in a bind as price pressures heighten case for early policy tweak
▼ + stars: | 2023-07-14 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

But there's no clarity on what the final decision would be," said one of the sources on the chance of a policy shift in July. Lately, however, BOJ policymakers been dropping signs that inflation is being increasingly driven by improving consumer demand. CREDIBILITY ON LINEThere is no consensus within the BOJ on how soon it should start dialing back stimulus. Proponents of early action point to the rising cost of YCC, such as market distortions caused by the BOJ's huge bond buying. "A July policy tweak would contradict the logic the BOJ had been using to justify keeping easy policy," said Naomi Muguruma, senior market economist at Mitsubishi UFJ Morgan Stanley Securities.

Persons: Kazuo Ueda's reassurances, Ueda, Naomi Muguruma, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Leika Kihara, Kim Coghill Organizations: Bank of, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, Tokyo, Thomson Locations: TOKYO, Bank of Japan

☆ Here are Friday's biggest analyst calls: Apple, Nvidia, AT&T, Tesla, Disney, Amazon, Microsoft & more
▼ + stars: | 2023-07-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

JPMorgan downgrades AT & T to neutral from overweight JPMorgan downgraded the telecommunications due to "slowing growth drivers." Wells Fargo downgrades Progressive to equal weight from overweight Wells said it has concerns about the insurance company gaining share. UBS upgrades Microsoft to buy from neutral UBS said in its upgrade of the stock that shares are too attractive to ignore. Bank of America reiterates Amazon as buy Bank of America said it's standing by its buy rating after the company's Prime Day. JPMorgan reiterates Apple as overweight JPMorgan said recent checks show that Apple has "strong market share" in a variety of markets.

Persons: LOE, Wells, it's, Tesla, Morgan Stanley, Goldman Sachs, Goldman, Raymond James, Robert Iger, Mills, Argus Organizations: HSBC, Pfizer, ADC, JPMorgan downgrades, Verizon, Mobile, Consumer, JPMorgan, Alcoa, UBS, Microsoft, Citi, Applied Materials Citi, Bank of America, Texas Roadhouse Citi, Texas, Barclays, Apple, Sands, Macau, Northland, Nvidia, Pulte, KB, Disney, CNBC, DIS, Argus, TNT, Tidewater Locations: Wells Fargo, China, Northland

☆ 3 health-care stocks are in the headlines. How the news impacts our investments
▼ + stars: | 2023-07-13 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

In April, alongside its first-quarter results, J & J raised its full-year sales guidance by about $1 billion and its earnings-per-share outlook by 15 cents. Clearing this overhang would help reduce the discount at which J & J shares to pharmaceutical peers, the firm said. The Club's take: JPMorgan's thinking on J & J aligns quite closely with our own. The dark cloud of talc lawsuits continues to keep a lid on J & J's stock price. Joaquin Duato, chief executive officer of Johnson & Johnson, at the company's headquarters in New Brunswick, New Jersey, U.S., on Thursday, April 21, 2022.

Persons: Johnson, Eli Lilly, J, Wells, Wells Fargo, Eli Lilly's, —, Eisai, Biogen, Bloomberg, we've, Jim Cramer's, Jim Cramer, Jim, Joaquin Duato, Amir Hamia Organizations: Johnson, JPMorgan, pharma, U.S ., Humana, UnitedHealth, Bloomberg, U.S, Mayo Clinic, Club, GE Healthcare, CNBC, Getty, & $ Locations: U.S, California, Wells Fargo, Rochester , Minnesota, New Brunswick , New Jersey

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