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☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Broadcom, Micron, Goldman Sachs, Carvana, Arista & more
▼ + stars: | 2024-06-27 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Goldman Sachs reiterates Micron as buy Goldman said investors should buy the dip in the stock following earnings on Wednesday. Jefferies reiterates Nvidia, Marvell and Broadcom as buy Jefferies said it's sticking with its buy rating on all three companies. " Morgan Stanley initiates Viking Therapeutics as overweight Morgan Stanley said the biotech company has "best-in-class potential." Morgan Stanley adds Goldman Sachs to the financials finest list Morgan Stanley added the investment banking giant to its top financials ideas list. Morgan Stanley reiterates Coca-Cola as overweight Morgan Stanley said it's sticking with its overweight rating on the beverage giant.

Persons: Goldman Sachs, Goldman, Bernstein, Apple, Mizuho, KBW, it's, Jefferies, AVGO, KeyBanc, Texas Consolidator, TD Cowen, Grindr, GRND, Morgan Stanley, JPM, Oppenheimer, Kyndryl, CVNA, Truist Organizations: Micron, Apple, Bank of America, Petrobras, of America, Mizuho, Holdings, Grab Holdings, New York Mellon, Deutsche Bank, Emerson Electric Deutsche Bank, Nvidia, Marvell, Broadcom, Energy, Crescent Energy Co, Citi, Arista Networks, Arista, Viking Therapeutics, Macquarie, TPG, Markets, JPMorgan, Bancorp, UBS, Disney, Cable Locations: MU, Brazil, Texas, North America, CA

☆ Wall Street analysts say this slide in Micron is a buying opportunity for AI play
▼ + stars: | 2024-06-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Investors should consider using the pullback in Micron Technology to snatch up shares, according to several Wall Street analysts. His $175 price target implies upside of more than 22% from Wednesday's close. Goldman Sachs analyst Toshiya Hari also viewed the drop as a buying opportunity, citing expectations for growth in AI compute and high-bandwidth memory market share gains. Hari has a price target of $158, signaling 11% upside over the next 12 months. MU 1D mountain Micron shares fall on in-line guidance Wells Fargo's Aaron Rakers reiterated his overweight rating and $190 price target, implying more than 33% upside.

Persons: Christopher Danely, Goldman Sachs, Toshiya Hari, Hari, Harlan Sur, Bernstein, Mark Li, Timothy Arcuri, Wells Fargo's Aaron Rakers, Vivek Arya Organizations: Micron Technology, MU, Micron, UBS, Bank of Locations: Wednesday's, CY25, ramping HBM

Container ships are berthed at PSA's Pasir Panjang Terminal in Singapore July 15, 2019. Global port congestion has reached an 18-month high, with 60% of ships waiting at anchor located in Asia, maritime data firm Linerlytica said this month. SEVERE CONGESTIONSingapore, the world's second-largest container port, has seen particularly severe congestion in recent weeks. "The peak season, which traditionally starts in June, was advanced by a full month, causing ocean freight rates to soar." Container freight prices from Asia to the U.S. and Europe have tripled since early 2024.

Persons: Edgar Su, Linerlytica, Yemen's, Jayendu Krishna, Drewry, PortCast, Niki Frank, Dimerco, Jonathan Gold, Judah Levine, Jared Bernstein, Gene Seroka, Peter Sand, Jeslyn Lerh, Lisa Baertlein, Lisa Barrington, Miyoung Kim, Kim Coghill Organizations: REUTERS, Retailers, Ships, Drewry Maritime Advisors, Singapore, Singapore's, Port Authority, Drewry, Keppel, Tuas, Maersk, DHL Global, Asia, Descartes, National Retail Federation, Container, U.S ., of Economic Advisers, U.S, DHL, Thomson Locations: Pasir Panjang, Singapore, SEOUL, SINGAPORE, Asia, Africa, Malaysia's Port Klang, Tanjung Pelepas, Shanghai, Qingdao, China, South Korea, U.S, Europe, U.S . East Coast, U.S . West, of Los Angeles, Los Angeles, Seoul

☆ Here are Monday's biggest analyst calls: Nvidia, Amazon, IBM, Micron, Apple, Tesla, Broadcom, Planet Fitness, UnitedHealth & more
▼ + stars: | 2024-06-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley initiates Ryder System as overweight Morgan Stanley said the transformation is underway for the transport company. " Morgan Stanley names UnitedHealth a top pick Morgan Stanley said the health-care company is compelling. "With this note, we are adjusting our Top Pick to UNH (from CI), where its relative share price performance presents an opportunity in our view." Morgan Stanley initiates Elevance Health as overweight Morgan Stanley called out Elevance Health's earnings power as it initiated coverage of the stock. " Melius reiterates Apple as buy Melius raised its price target on Apple to $260 per share from $227.

Persons: Jefferies, kingmaker, CARR, Goldman Sachs, Goldman, Morgan Stanley, Ryder, UnitedHealth, Bernstein, Tesla, TD Cowen, TD, it's, Melius, BEV, Eli Lilly, LLY Organizations: Nvidia, Citi, Micron, Carrier, UBS, Anheuser, Busch InBev, IBM, Bank of America, Broadcom, VMWare, CI, Elevance Health, Cherniere Energy, Cheniere Energy Inc, Ally, Barclays, Apple, " Bank of America, Alexa, Reuters, China, JPMorgan, Royal Locations: LLY, Royal Caribbean

☆ Fed Chair Powell has pulled off a soft landing, says Bowersock's Emily Hill
▼ + stars: | 2024-06-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell has pulled off a soft landing, says Bowersock's Emily HillEmily Hill, Bowersock Capital Partners founding partner and Richard Bernstein, Richard Bernstein Advisors CEO, joins 'Closing Bell Overtime' to talk the day's market action.

Persons: Powell, Emily Hill Emily Hill, Richard Bernstein Organizations: Bowersock Capital Partners

☆ Morgan Stanley says economic growth is bigger risk than inflation, gives quality stocks to own in a slowdown
▼ + stars: | 2024-06-24 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

The risk of an economic slowdown now outweighs the risk of inflation, according to Morgan Stanley. But Morgan Stanley worries that the poor breadth of the market , measuring the number of advancing stocks against those declining, is a sign that slowing economic growth is becoming a bigger risk than stubbornly high inflation. To be sure, the Morgan Stanley strategist does not expect weak breadth to herald weak returns. Here are some of the quality large-cap and defensive stocks with strong upward earnings revisions that can outperform, according to Morgan Stanley. Burlington shares are higher by 25% this year, and the stock is overweight-rated by Morgan Stanley.

Persons: Morgan Stanley, Mike Wilson, Wilson, Russell, Bernstein, BURL, Aneesha Sherman, Morgan, Jefferies, HubSpot Organizations: Wall, Nasdaq, Dow Jones, Monster Beverage, Beverage, Nvidia Locations: Burlington

Citi analyst Andrew Kaplowitz upgraded his rating for the heating and ventilation company to buy from neutral. The analyst accompanied the move by upping his price target to $74 from $65, implying that shares of Carrier Global could rally 17% going forward. The financial institution raised its price target for Nvidia to $150 from $135. Analyst Erin Wright stood by her overweight rating on the health insurance stock, reiterating her $595 price target. Wright set a price target of $374, which is 23% higher than the insurance company's Friday closing price of $355.48.

Persons: Goldman Sachs, Andrew Kaplowitz, CARR, Kaplowitz, — Lisa Kailai Han, Jefferies, Blayne Curtis, kingmaker, Curtis, Lisa Kailai Han, Morgan Stanley, UnitedHealth, Morgan Stanley's, Erin Wright, Wright, Bernstein, Stephen Reitman, Ferrari, Reitman, Ferrari's, Sanjeet Aujla, Aujla, BUD, Christopher Danely, Danely, James Schneider, Schneider, Fred Imbert Organizations: CNBC, Monday, Citi, Micron Technology, IBM, Carrier Global, Carrier, Nvidia, Humana, Ferrari, UBS, Anheuser, Busch InBev It's, Busch InBev, Micron, Citi Citi, Dow Jones Industrial, Dow Locations: China, UnitedHealth, U.S, Friday's

☆ 10 things to watch in the stock market Friday including more optimism on Apple's AI plan
▼ + stars: | 2024-06-21 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Meanwhile, Melius Research upped its price target on the leading artificial intelligence chipmaker to $160 a share from $125. Their new price target is $477 a share, down from $535. DA Davidson started coverage of Club name Palo Alto Networks with a buy rating and price target of $380 a share. Snowflake 's price target at Wells Fargo was lowered to $200 a share from $225, though analysts kept their buy rating on the data-analytics stock. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Stocks, Dow, Oppenheimer, Bernstein, Toni Sacconaghi, It's, Northrop Grumman, Analysts, Davidson, billings, Morgan Stanley, Frank Slootman, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Nvidia, Research, Nike, Analysts, Apple, Northrop, Palo Alto Networks, Alcoa, JPMorgan, Kroger, Jim Cramer's Charitable, CNBC Locations: Freeport, McMoRan, Wells

☆ Apple stock gets fresh upgrades pointing to 14% upside as it becomes a leader in the AI race
▼ + stars: | 2024-06-21 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The research firms both raised their Apple price target to $240, representing potential upside of 14%. Both CFRA and Bernstein increased their Apple price target to $240 per share on Friday. According to CFRA analyst Angelo Zino, who previously had a $210 price target, Apple is poised to turn the iPhone into "the ultimate personal assistant." "We expect Apple Intelligence (AI) to help support incremental consumer upgrades, driven by loyalists and an aging installed base, with AI being more evolutionary than cyclical that will aid multiple years of growth," Zino said. Bernstein bases its $240 price target on fiscal year 2025 earnings per share of $8.00 and a historically high multiple of 30x earnings.

Persons: Apple, CFRA, Bernstein, —, Angelo Zino, turbocharges Siri, Zino, Toni Sacconaghi, Sacconaghi Organizations: Service, Apple, Apple Intelligence, Apple Stock Locations: WWDC

☆ CEA Chair Jared Bernstein: We're taking aggressive action to lower costs for Americans
▼ + stars: | 2024-06-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCEA Chair Jared Bernstein: We're taking aggressive action to lower costs for AmericansJared Bernstein, President Biden’s Council of Economic Advisers chair, joins 'Squawk Box' to discuss the state of the economy, what President Biden is doing to lower the cost for living for Americans, government spending, impact on the federal budget deficit, and more.

Persons: Jared Bernstein, Biden Organizations: Biden’s, Economic Advisers

☆ Stocks making the biggest moves premarket: Gilead Sciences, Sarepta Therapeutics, Nike and more
▼ + stars: | 2024-06-21 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

The decline comes after the AI chipmaker on Tuesday briefly topped Microsoft as the most valuable public company. Nike — The athletic clothing maker moved 1% higher following an upgrade at Oppenheimer to outperform from market perform. Asana — Shares popped more than 3% after the software firm announced a $150 million share buyback plan. Gilead Sciences — The pharmaceutical stock rose more than 2.6%, building on a rally of 8.5% from the previous session. Delta Air Lines — The stock rose 0.7% following news Thursday that the airliner announced a quarterly dividend of 15 cents a share, a 50% increase from previous levels.

Persons: Oppenheimer, Gilead, LendingTree, Bernstein, Toni Sacconaghi, — CNBC's Brian Evans, Michelle Fox, Jesse Pound, Sarah Min Organizations: Nvidia, Microsoft, Sarepta Therapeutics, U.S . Food, Drug Administration, Nike, Gilead Sciences, Bloomberg, Apple —, Air Lines Locations: U.S, Gilead

☆ Nvidia's stock is not surprising given its trajectory and the numbers, says Bernstein's Rasgon
▼ + stars: | 2024-06-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia's stock is not surprising given its trajectory and the numbers, says Bernstein's RasgonStacy Rasgon, Bernstein Research managing director and senior analyst, joins 'Squawk on the Street' to discuss the analyst's price target for Nvidia, where the company's valuation currently sits, and much more.

Persons: Bernstein's Rasgon Stacy Rasgon Organizations: Bernstein Research, Nvidia

☆ After His Arrest, Justin Timberlake Is the Talk of Sag Harbor
▼ + stars: | 2024-06-19 | by ( Jacob Bernstein | ) www.nytimes.com time to read: +1 min

On Tuesday afternoon in Sag Harbor, Janice Yu of WABC-TV was sitting in the passenger seat of a Nissan news van, eating from a bag of Smart Food popcorn. It was as close as she would come to getting to a kernel of news. “We don’t even know who he was with,” she said, referring to the singer and actor Justin Timberlake, who had been arrested by a Sag Harbor police officer shortly after midnight on Tuesday and charged with driving while intoxicated. It was also where Mr. Timberlake had been partying with friends the night before. Now it was a muggy and sunny day on the leafy street of this quaint-by-Hamptons-standards onetime whaling village, lined by shops that sell everything from $30 Havaianas flip-flops to $4,600 swivel chairs by Charlotte Perriand.

Persons: Janice Yu, ”, Justin Timberlake, Yu, confit, Timberlake, Charlotte Perriand Organizations: WABC, Nissan, Smart, Hamptons Locations: Sag Harbor, New York, Lululemon

☆ Watch CNBC's full interview with Richard Bernstein Advisors CEO
▼ + stars: | 2024-06-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Richard Bernstein Advisors CEORichard Bernstein, Richard Bernstein Advisors CEO & CIO, joins CNBC's 'The Exchange' to discuss market outlooks, how to position, and more.

Persons: Richard Bernstein

☆ The market is bifurcated between Mag 7 and 'everything else,' says Richard Bernstein
▼ + stars: | 2024-06-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market is bifurcated between Mag 7 and 'everything else,' says Richard BernsteinRichard Bernstein, Richard Bernstein Advisors CEO & CIO, joins CNBC's 'The Exchange' to discuss market outlooks, how to position, and more.

Persons: Richard Bernstein Richard Bernstein, Richard Bernstein

☆ Americans are still paying more for shoes, luggage and hats after Biden left Trump’s tariffs in place
▼ + stars: | 2024-06-16 | by ( Katie Lobosco | ) edition.cnn.com time to read: +12 min

Courtesy Abby ChowningThe tariffs Biden left in place – which are paid by US importers and not China – hit roughly $300 billion of goods. After Trump’s tariffs hit, some US companies sought new manufacturers in other countries. The Covid-19 pandemic upended the global economy roughly two years after Trump’s trade war began. Several studies show that Trump’s tariffs only marginally contributed to the rise in US inflation experienced after the pandemic and the following supply chain crisis. Trump’s tariffs were meant to get China to address those issues.

Persons: Donald Trump, Trump, Tiffany Zarfas Williams, ”, Zarfas Williams, Joe Biden, –, “ Trump, ” Biden, “, Biden, ’, Abby, China –, Rick Muskat, Jake Muskat, Alena Margolis, Muskat, ” Muskat, Phil Page, Page, Bryan Finch, ” Page, Morgan, Nate Herman, Matt Priest, Priest, Steve Madden, ” Jared Bernstein, we’ve, ” Bernstein, Justin Sullivan, ” Herman, Xi Jinping, Biden “ Organizations: Washington CNN —, China, Trump, Biden, Deer Stags, JCPenney, America, Cap America, American Apparel & Footwear Association, Bureau of Labor Statistics, Footwear Distributors, Retailers of America, Adidas, Columbia, Nike, White House Council, Economic Advisers, China Business, Trade, National Council of Textile Organizations, Port Locations: Lubbock, Texas, China, Ukraine, Missouri, Vietnam, Bangladesh, Port of Oakland, Oakland , California

☆ Stocks are in a sweet spot but bears still fear a bubble is near bursting. Here's what 5 forecasters are saying about a potential crash.
▼ + stars: | 2024-06-16 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Here's what five forecasters have to say about the latest rally — and why they think the stock market is headed for a fall. In 2009, he wrote a book predicting a stock market crash and ensuing economic depression, which he said could last for 10 years or more. The research firm is predicting the S&P 500 could see a steep correction following a rally to 6,500. Yet, that could end up being an excellent opportunity for investors who are diversified in other areas of the market, Bernstein said. AdvertisementTypically, there are eight warning signs of a market bubble forming, and six of them have already flashed, the bank said.

Persons: Stocks, —, haven't, Harry Dent Stocks, Harry Dent, Dent, John Higgins, Higgins, John Hussman, Hussman, Richard Bernstein, Bernstein Organizations: Service, Nasdaq, Apple, Nvidia, Fox Business Network, Stocks, Capital Economics, John Hussman Elite, UBS

☆ Soaring fast food prices encourage Big Mac junkies to cook at home
▼ + stars: | 2024-06-15 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

Read previewAs fast-food prices continue to soar, Americans are looking for ways to get more bang for their buck. Like fast-food prices, grocery prices soared during the pandemic. But grocery prices are now largely back to pre-pandemic levels, while inflation at limited-service restaurants still remains elevated. When fast-food prices rise at a faster rate than grocery prices, consumers notice. He attributed this to the price increases at fast-food chains.

Persons: —, Chad Frye, Frye, Thomas Valentine, Jordan Sanchez, he's, Lawrence Milford's, Laxman Narasimhan, McDonald's, Danilo Gargiulo, Bernstein, John Furner, footfall —, Michael Siluk, Martin Jennings, Jennings, Brooks Ferrante, Ben Heyworth, it's Organizations: Service, Business, Walmart, Getty Locations: California, Arizona, Florida, Puerto Rican

☆ Bitcoin will hit $500,000 by the end of this decade as ETF demand booms, Bernstein says
▼ + stars: | 2024-06-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Bitcoin is predicted to hit $500,000 by 2029, according to Bernstein. The bullish outlook is driven by a sustained boom in demand for bitcoin ETFs, combined with constrained supply. AdvertisementThe price of bitcoin is set to soar to $500,000 by the end of the decade, according to a recent note from Bernstein. Advertisement"This is led by unprecedented Bitcoin demand ($190Bn AUM in 2025E vs. $60Bn today) via ETFs run by the world's leading asset managers, and Bitcoin supply being constrained," Bernstein said. Bernstein argues that MicroStrategy deserves the premium valuation as it offers investors an "active-leveraged" strategy compared to passive bitcoin ETFs.

Persons: Bitcoin, Bernstein, —, Gautam Chhugani, Mahika Sapra, bitcoin, Chhugani, Sapra, MicroStrategy Organizations: Service, BTC

☆ Tesla's shareholder vote is a positive for the stock, says Bernstein's Toni Sacconaghi
▼ + stars: | 2024-06-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla's shareholder vote is a positive for the stock, says Bernstein's Toni SacconaghiToni Sacconaghi, Bernstein senior research analyst, joins 'Squawk Box' to discuss the fallout from Tesla's shareholder vote to approve CEO Elon Musk's $56 billion pay package, the impact on the stock, what's next for the company, and more.

Persons: Bernstein's Toni Sacconaghi Toni Sacconaghi, Bernstein, Elon Musk's, what's

☆ How Tesla Shareholders Upheld Elon Musk’s Sky-High Pay
▼ + stars: | 2024-06-14 | by ( Lily Boyce | Jason Karaian | ) www.nytimes.com time to read: +5 min

How Tesla Shareholders Upheld Elon Musk’s Sky-High PayTesla shareholders on Thursday voted to reaffirm a roughly $48 billion compensation package for Elon Musk, which was originally approved in 2018 and was nullified by a judge early this year. Mr. Musk’s pay package helped him become one of the richest people in the world. Thursday’s vote arose from a court case in Delaware, where the company is incorporated, that voided Mr. Musk’s pay package. California Public Employees’ Retirement System, or CalPERS, the largest pension fund in the United States, also opposed the pay package. The debate about Mr. Musk’s compensation raised questions about the limits of executive compensation and the accountability of Silicon Valley billionaires whose wealth gives them vast influence.

Persons: Elon Musk, Elon, Kimbal, Tesla, Musk, Eli Lilly, Nvidia Berkshire Hathaway Apple Tesla, Bernstein Organizations: Tesla, Elon, Sky, The New York, Mr, Norges Bank Investment Management, California Public, Broadcom, Chase Amazon, Nvidia Berkshire, The New York Times, Silicon, SpaceX, Fortune Locations: Delaware, United States, Texas, Austin

☆ Bernstein says MicroStrategy is 'building the world's largest bitcoin company' and has 80% upside
▼ + stars: | 2024-06-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

MicroStrategy can run another 80% from here thanks to its aggressive bitcoin buying strategy, according to Bernstein. "Since August 2020, MSTR has transformed from a small software company to the largest bitcoin holding company, owning 1.1% of world's Bitcoin supply worth ~$14.5Bn," Bernstein analyst Gautam Chhugani said in a note. "MSTR's founder chairman, Michael Saylor has become synonymous with brand bitcoin and has positioned MSTR as a leading bitcoin company, attracting at-scale capital (both debt and equity) for an active bitcoin acquisition strategy." "MSTR positions itself as an 'active-leveraged' bitcoin strategy vs. passive spot ETFs," Chhugani said. … On a dollar basis, MSTR's Bitcoin $ NAV per share has grown ~4-fold beating ~2.4x growth in bitcoin spot price."

Persons: Bernstein, MicroStrategy, MSTR, Gautam Chhugani, MSTR's, Michael Saylor, Chhugani, — CNBC's Michael Bloom Organizations: BTC

☆ Here are Friday's biggest analyst calls: Nvidia, Tesla, Hasbro, Sunrun, Amazon, Costco, Spotify, Pinterest, Apple & more
▼ + stars: | 2024-06-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Piper Sandler reiterates Pinterest as a top pick Piper said it's sticking with its overweight rating on the stock. JPMorgan reiterates Amazon as overweight JPMorgan said the e-commerce giant remains a top pick at the firm. The firm also says it's sticking with its outperform rating on Apple. "We are reiterating our Buy rating and raising our price target on shares of Costco from $890 to $940." Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla .

Persons: Bernstein, it's, D.A, Davidson, KBW, Tesla, underperform Bernstein, Musk, Piper Sandler, Pinterest, Piper, Evercore, Morgan Stanley, Sunrun, Guggenheim, Macquarie, Roblox, TD Cowen, Cowen, Michael Colglazier, Morgan Stanley downgrades Twilio, JPMorgan, GenAI, Wolfe, Elon Organizations: Bank of America, Elon, Spotify, UBS, TPC, Galactic, America, JPMorgan, Adobe, " Bank of America, Hasbro, of America, Monopoly, Apple, Baidu, Apple Intelligence, Costco, Nvidia, Tesla Locations: China

☆ Here are Thursday's biggest analyst calls: Nvidia, Netflix, Broadcom, Dell, Meta, Roblox, Tesla, Boeing, Microsoft & more
▼ + stars: | 2024-06-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Bank of America reiterates Broadcom as buy Following Broadcom's earnings report, Bank of America said the company has "potential to join the trillionaires club." Morgan Stanley downgrades Corning to equal weight from overweight Morgan Stanley downgraded Corning mainly on valuation. Bank of America reiterates Dell as buy Bank of America said it sees several positive catalysts ahead for Dell. Morgan Stanley reiterates Amazon, Alphabet, Meta, Microsoft and Adobe as overweight Morgan Stanley named several tech stocks that it said are well positioned for AI. " Morgan Stanley reiterates Colgate-Palmolive as a top pick Morgan Stanley said it sees a "pet inflection on the horizon" for Colgate.

Persons: it's, Oppenheimer, Ulta, Jefferies, OpenAI, Bernstein, Goldman Sachs, Goldman, Morgan Stanley, Goodyear, Wolfe, Bill Brown, Morgan Stanley downgrades Corning, TD Cowen, Cowen, KeyBanc, Dell, Clark, Wells, Fortnite, Stephens, Wedbush, Tesla, Elon Musk Organizations: Deutsche Bank, Nike, Bank of America, Broadcom, Citi, Royal, TEAM, Microsoft, OpenAI, Nvidia, Starbucks, Goodyear Tire, Civitas Resources, Netflix, Media Survey, Dell, " Bank of America, underperform Bank of America, Adobe, Colgate, Palmolive, Technology, Barclays, NextEra Energy Partners, NextEra Energy, Boeing, of America Locations: Royal Caribbean, Corning, Texas

☆ At Stellantis investor day, cost cuts and China come into focus
▼ + stars: | 2024-06-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Massimo Pinca | ReutersDETROIT – Since spearheading a merger to create Stellantis in 2021, CEO Carlos Tavares has been on a cost-cutting mission. "We are not in the race to transition to EVs, but in a race to cut cost on EVs," Tavares said in late May during a Bernstein investor conference. The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030. Executives on Thursday will outline developments across Stellantis' regions and businesses, including its capital and operational disciplines, according to Stellantis CFO Natalie Knight. "The share price reaction to the [capital markets day] will likely be driven by how these short-term concerns are addressed.

Persons: Carlos Tavares, Massimo Pinca, Tavares, " Tavares, Stellantis, Ned Curic, EVs, I've, Natalie Knight, David Dee Delgado, Ram, China's, Patrick Hummel Organizations: Reuters DETROIT, Atlantic, PSA Groupe, Fiat Chrysler, Ram, CNBC, Amazon, New York, Auto, Reuters, Cox Automotive, UBS, GM, Ford Locations: Turin, Italy, U.S, Auburn Hills , Michigan, Manhattan , New York, China

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