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☆ Moderna and this solar name are among the most overbought stocks after a record-setting week
▼ + stars: | 2024-05-24 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

It may be time for investors to trim positions in overbought names after the stock market reached record levels this week. Certain stocks this week became overbought, based on their 14-day relative strength index, or RSI. Here are the most overbought names in the S & P 500 this week: Moderna was the most overbought stock in the S & P 500, scoring an RSI of about 86.5. Analysts think shares, which have rallied about 28% this year, could peel back roughly 8%. Other oversold stocks include SLB , J.B. Hunt and Molson Coors .

Persons: LSEG, Jon Windham, Johnson, Ulta, Hunt Organizations: Dow Jones Industrial, Nasdaq, Nvidia, Moderna, UBS, Johnson Controls, Bloomberg, Elliott Investment Management, Johnson, Barclays, Deutsche Bank, Jefferies, Molson Coors Locations: U.S, oversold, J.B

☆ Oil prices bounce back after three-day decline but still on pace for weekly loss
▼ + stars: | 2024-05-23 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Crude oil futures bounced back Thursday after a three-day decline but are still on pace for a weekly loss. U.S. crude oil is down 2.4% for the week while Brent, the global benchmark, is down 1.8%. Traders are also worried about a buildup in global oil inventories after a mild winter in parts of the Northern Hemisphere, Staunovo told clients in a note Thursday. Nevertheless, UBS sees the oil market in a deficit and is forecasting Brent will rise to $91 per barrel in coming months. The bank also sees healthy demand growth of 1.5 million barrels per day in 2024, above the long-term growth rate of 1.2 million barrels per day.

Persons: Brent, Giovanni Staunovo, Staunovo Organizations: Midland, UBS, Traders, Northern Locations: Odessa, Texas, U.S

☆ How family offices are planning to invest now and in the next 5 years, according to UBS
▼ + stars: | 2024-05-23 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Here's how family offices are investing this year and how they plan to change their allocations in the next five years, according to UBS' Global Family Office Report 2024. Family offices plan to maintain the same allocation for 2024 – at 16%. Real estate Apart from fixed income, real estate was the other big change in how family offices invested last year, according to UBS. But family offices plan to increase the real estate part of their portfolios — to 12% in 2024, according to the report. Elsewhere, family offices are investing in Western Europe – in sectors such as luxury goods and automation, and in Asia Pacific (35%).

Persons: That's Organizations: UBS, Global, –, Globally, Koh Locations: North America, U.S, Western Europe, Asia, Greater China

☆ Hedge funds loaded up on financial and tech stocks in the first quarter—Here's what they picked
▼ + stars: | 2024-05-23 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Hedge funds added more exposure to financial and tech names in the last quarter, according to Morgan Stanley. Castagno highlighted that in the last quarter, hedge funds seemed to shift their portfolio allocations toward the information technology and financials sectors, moving away from health care. However, hedge funds still remain most overweight stocks within the health care, consumer discretionary and industrials industries. Hedge funds have recently increased their ownership shares in retailer Bath & Body Works by 2.5%. Wolfe Research upgraded shares of Alaska Air Group to outperform from peer perform last Friday.

Persons: Morgan Stanley, Todd Castagno, Castagno, A.J, — CNBC's Michael Bloom Organizations: Securities and Exchange, Universal Health Services, UBS, Body, JPMorgan, Airline, Alaska Air Group, Wolfe Research, TPG, DXC Technology, Avis Budget Group Locations: Rice, Bath, Coast

☆ Here are Thursday's biggest analyst calls: Nvidia, Tesla, Ford, Super Micro, Wendy's, Hasbro, Take-Two, Wynn & more
▼ + stars: | 2024-05-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Bank of America reiterates Nvidia as buy Bank of America raised its price target on the stock to $1,320 per share from $1,100 following earnings. Deutsche Bank initiates Freshpet a buy Deutsche said it sees "multiple structural tailwinds" for shares of the pet food and health company. Deutsche Bank initiates BellRing Brands as buy Deutsche said it sees a long runway for growth for the food company. " Deutsche Bank initiates Legend Biotech as buy Deutsche said it's bullish on the biotech company's multiple myeloma drug Carvykti. Bank of America reiterates Super Micro Computer as buy Bank of America said Nvidia's earnings report on Wednesday bode well for companies like Super Micro.

Persons: Bernstein, Ford, Morgan Stanley downgrades NetEase, Morgan Stanley, Evercore, BRBR, Wedbush, Jefferies, GDRX, Oppenheimer, Armour, Kevin, Dell, Chubb, Stephens, FHN, Tesla, Argus, it's bullish, bode Organizations: " Bank of America, Nvidia, Bank of America, Deutsche Bank, Deutsche, BellRing Brands, JPMorgan, Hasbro, RBC, Norfolk Southern, NSC, GE Vernova, GE, UBS, Eastman Chemical, Eastman, SAP, underperform Bank of America, Berkshire Hathaway's, of America, Rockstar Games, NextEra Energy Partners, Argus, Wynn, Biotech, Computer Locations: U.S, China, Berkshire, Macau, Las Vegas, 2H24

☆ Stocks making the biggest moves midday: Target, Urban Outfitters, Tesla, Shopify and more
▼ + stars: | 2024-05-22 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Urban Outfitters — The clothing retailer slid 4.6% despite posting a fiscal first-quarter beat, after trading higher before Tuesday's opening bell. Urban Outfitters reported adjusted earnings of 69 cents per share, higher than the 52 cents per share analysts polled by LSEG had expected. First Solar — Shares surged more than 18% in midday trading. Other alt energy stocks also surged, in part owing to enthusiasm that AI will lift power demand. Bloom Energy surged 18%; Sunnova Energy added 14%; and Enphase Energy , Fluence Energy and Sunrun were all up 10%.

Persons: Goldman Sachs, LSEG, —, Alex Harring, Lisa Kailai Han, Jeff Greenberg Organizations: Goldman, Urban Outfitters, Garmin, Bank of America, —, Toll, Citi, Tesla, Elon, Bloomberg, UBS, Bloom Energy, Sunnova Energy, Enphase Energy, Fluence Energy, Sonoma, Universal, Getty Locations: Massachusetts, Europe, FactSet, Miami Beach , Florida

☆ AI darling Nvidia reports after the bell. What Wall Street is watching
▼ + stars: | 2024-05-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Wall Street will be keeping close watch on what Nvidia says about demand for its artificial intelligence chips when the market-moving chipmaker reports quarterly results after the bell Wednesday. Nvidia is expected to surpass expectations again, with analysts polled by LSEG calling for earnings of $5.59 per share on $24.65 billion in revenue. "As long as it tops analyst expectations, NVIDIA is likely to remain a key tailwind for the overall U.S. stock market." NVDA 1Y mountain Shares over the last year For multiple quarters, Nvidia has shocked Wall Street with the robust demand for its tools. "We continue to expect a strong beat-and-raise quarter from NVIDIA as Hopper demand remains robust before the Blackwell transition," wrote Morgan Stanley's Joseph Moore.

Persons: they've, Wolfe, Chris Senyek, Hopper, Blackwell, Morgan Stanley's Joseph Moore, Piper Sandler's Harsh Kumar, Rosenblatt's Hans Mosesmann, Baird's Tristan Gerra, Tom O'Malley, Baird's Gerra, Nvidia's Blackwell, America's Vivek Arya, Arya, Timothy Arcuri, Rosenblatt's Mosesmann, O'Malley, Morgan Stanley's Moore Organizations: Nvidia, NVIDIA, Blackwell, Barclays, Bank, America's, UBS Locations: Nvidia's

☆ Here are Wednesday's biggest analyst calls: Nvidia, Meta, Tesla, Chipotle, Ferrari & more
▼ + stars: | 2024-05-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Wednesday's biggest calls on Wall Street: Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla but says it's only a matter of time before others automakers begin to take advantage of AI also. Morgan Stanley reiterates Meta as overweight Morgan Stanley said that, as users adopt the company's Reels product it becomes a "monetization opportunity." Morgan Stanley reiterates Dell as a top pick Morgan Stanley said Dell remains a favorite name at the firm. Morgan Stanley reiterates McDonald's as overweight Morgan Stanley said it's standing by the fast-food chain. Morgan Stanley reiterates Ferrari as overweight Morgan Stanley said it's standing by its overweight rating on the automaker.

Persons: Morgan Stanley, Tesla, Piper Sandler, Piper, Meta, Dell, JMP, Oppenheimer, it's, Goldman Sachs, Goldman, Kraft Heinz, McDonald's, Rosenblatt, John Malone, Sportico, Morgan Stanley downgrades, Generac, Jefferies, Needham, Stryker, Ferrari, MSFT Organizations: GM, Ford, Nvidia, Blackwell, ODM, Lenovo, Dell, China Tech Hardware, Costco, " Bank of America, Bank of America, Kraft, Brunswick, UBS, Brunswick Corporation, Atlanta Braves Holdings, Deutsche Bank, Waste Management, Deutsche, Price, Jefferies, Prudential, Lincoln National, Microsoft, Garmin, of America Locations: Coinbase, Shopify

☆ UBS says it's time to move out of cash. Here's where it sees opportunity
▼ + stars: | 2024-05-21 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

The era of hiding out in cash is coming to an end, according to UBS. While investors have been earning yields of more than 5% on instruments like money market funds and certificates of deposit, those rates aren't expected to stick around much longer. "We believe investors should limit their overall cash balances as falling interest rates this year and beyond will diminish returns on cash," Solita Marcelli, chief investment officer Americas for UBS Global Wealth Management, wrote in a note Monday. Investors flooded into money market funds as the Federal Reserve began raising interest rates in 2022. UBS also moved out on the curve on TIPS earlier this month after initially buying 5-year inflation-protected securities in August.

Persons: Marcelli, Leslie Falconio, Falconio Organizations: UBS, UBS Global Wealth Management, Investors, Federal Reserve, Investment Company Institute, AAA, AAA CMBS Locations: UBS Americas

☆ We're in the era of heat pumps — a market that experts say is 'set to skyrocket'
▼ + stars: | 2024-05-21 | by ( Pia Singh | ) www.cnbc.com time to read: +10 min

This old technology getting some fresh attention is a trend investors may not want to miss: Heat pumps. Heat pumps provide both air conditioning and heat — all in one device. Heat pumps could play a viable role in this regard," Muhedini said in a research note last week. The DOE also runs a Residential Cold Climate Heat Pump Technology Challenge , which is partnered with Trane, Carrier, and Johnson Controls, among other leading heat pump makers. In the chemicals sector, companies that produce more eco-friendly refrigerants for heat pumps could one day reap the benefits of recent legislation in the U.S. that will ban next year the production of heat pumps that use refrigerants with high levels of global warming potential.

Persons: hasn't, They're, William Thompson, Amantia, Muhedini, Thompson, Johnson, Jefferies, Stephen Volkmann, Trane, Andrew Kaplowitz, Deane Dray, Dray, Lennox, Owens, It's, they've, Nestle Organizations: UBS, McKinsey, Barclays, United Nations, UN, International Energy Agency, Johnson Controls, Carrier, Solutions, Citi, Wednesday, U.S . Department, DOE, Trane, RBC Capital, Johnson, Companies, Rockwell Automation, Honeywell International, Arkema, Unilever Locations: industrials, U.S, Paris, Trane, Monday's, Spain, Switzerland

☆ First Solar earnings could surge 370% by 2027 as Big Tech hunts for renewables to power AI, UBS says
▼ + stars: | 2024-05-21 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

First Solar's earnings are expected to surge 374% to $36.74 per share in 2027, analysts led by Jon Windham told clients in a research note Tuesday. Utility-scale solar represents 80% of the corporate power purchase agreements over the past five years, and the four tech companies represent 40% of utility-sale solar demand, according to UBS. First Solar makes thin-film solar modules rather than silicon-based modules that are dominated globally by China. This will allow First Solar customers to benefit from the 10% domestic content tax credit under the IRA, which is worth about 10 cents per watt of solar power. "FSLR is also a hedge against potential weakness in the 'sustainability' of the Chinese silicon based solar supply chain."

Persons: Jon Windham, Windham, Goldman Sachs, Mark Widmar, Alexander Bradley Organizations: Big Tech, UBS, Microsoft, Meta, Google, First Locations: U.S, China, Ohio, Alabama, Louisiana

☆ UBS says it expects more upside for Taiwan's Taiex
▼ + stars: | 2024-05-21 | 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 EmailUBS says it expects more upside for Taiwan's TaiexRandy Abrams of the bank discusses what's driving growth in the Taiwan market.

Persons: Taiex Randy Abrams Organizations: UBS Locations: Taiwan

☆ China's recovery is still patchy, but things are looking up: UBS
▼ + stars: | 2024-05-21 | 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 EmailChina's recovery is still patchy, but things are looking up: UBSJames Wang, head of China strategy at UBS Investment Bank Research, says "from a ground-up perspective, things are looking a bit better."

Persons: UBS James Wang Organizations: UBS, UBS Investment Bank Research Locations: China

☆ There’s more than one way to access this asset offering tax-free income. How to make the right choice
▼ + stars: | 2024-05-20 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

Muni bonds are beloved by wealthy investors because they offer income that's free of federal taxes. Muni bond ETFs and mutual funds, meanwhile, don't have a definite maturity date and their price can fluctuate while the investor is holding them. Liquidity needs are also a major factor, with individual bonds potentially being hard to sell if an investor has a cash need. Since these funds offer a fixed number of shares, they trade at a discount or premium to their net asset value. Some of these funds hold municipal bonds and are trading at sharp discounts to their net asset value, potentially making them an attractive purchase.

Persons: Kathleen McNamara, there's, muni, he'll, Beth Foos, James Ritzema, Baird, Jon Browne Organizations: Federal Reserve, UBS, tradeoffs Investors, SEC, Investors, Morningstar, RiverNorth Locations: Americas, –

A chipmaker was among Monday's biggest analyst calls along with a hospital stock. Morgan Stanley upgraded Micron Technology and raised its price target on the stock — though it sees only limited gains ahead. U.S. Steel shares have dropped more than 26% year to date. The bank upgraded the computer memory stock to equal weight from underweight and increased its price target to $130 per share from $98. He also raised hi 12-month price target to $226 from $189, implying upside of 27% from Friday's close.

Persons: Morgan Stanley, Dell, Samik Chatterjee, Bernstein, Toni Sacconaghi, DELL, — Brian Evans, Jefferies, Christopher LaFemina, LaFemina, Stifel, Ruben Roy, Baird, Tristan Gerra, Tom O'Malley, Brian Evans, Micron Technology Morgan Stanley, Morgan Stanley's, Joseph Moore, Moore, AJ Rice, Rice, Fred Imbert Organizations: CNBC, Micron Technology, UBS, Universal Health Services, JPMorgan, Dell, Jefferies, U.S, Steel, U.S . Steel, Nippon Steel's, Wall, TAM, Nvidia, Barclays Locations: U.S, Friday's

☆ Here are Monday's biggest analyst calls: Nvidia, Amazon, Apple, Tesla, Dell, Micron & more
▼ + stars: | 2024-05-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Monday's biggest calls on Wall Street: Melius reiterates Apple as buy Melius said it sees several positive catalysts ahead for Apple. Bernstein reiterates Dell as outperform Bernstein raised its price target on the stock to $155 per share from $120. Goldman Sachs reiterates Amazon as buy Goldman said it's standing by its top pick status on shares of Amazon. " Barclays reiterates Nvidia as overweight Barclays raised its price target on Nvidia to $1,100 from $850. Morgan Stanley upgrades Micron to equal weight from underweight Morgan Stanley raised its price target on Micron to $130 per share from $98.

Persons: Melius, Bernstein, Dell, Stifel, Baird, Goldman Sachs, Goldman, –, Huntington Ingalls, it's, it's bullish, Redburn, Tesla, Morgan Stanley, Salesforce, Jefferies, Evercore, TJX Organizations: Apple, Developers, Citi, RIO, Nvidia, Barclays, Robotics, Group, Marex Group, Micron, Hasbro, U.S . Steel, UBS, Universal Health Services, JPMorgan, TJX Companies, SSS, Seaport, FedEx, US Locations: Tinto, America, Cleveland, China

Read previewWall Street is investing big in artificial intelligence — and that's good news for machine-learning engineers and other tech talent. Hirsch said that investment banks are hiring AI engineers to build in-house tools that they can use "across their trading, research, and risk-management functions." The 8 banks reviewed are JPMorgan Chase, Bank of America, UBS, Citibank, Barclays, Deutsche Bank, Goldman Sachs, and Morgan Stanley. We pulled data for roles containing keywords like "AI," "data science," "machine learning," and "prompt." AdvertisementCheck out data-science and AI salaries for JPMorgan, Goldman Sachs, Citi, Bank of America, and other investment banks:

Persons: —, JPMorgan Chase, Jamie Dimon, Dimon, Gil Perez, Giancarlo Hirsch, Hirsch, Goldman Sachs, Morgan Stanley Organizations: Service, JPMorgan, Business, Deutsche Bank, Wall, of Foreign Labor, JPMorgan Chase, Bank of America, UBS, Citibank, Barclays, Department, Labor, Citi Locations: America

A fast food stock and Nvidia were among the stocks being talked about by analysts on Wall Street. RBC assumed coverage of Jack in the Box with an outperform rating and a price target that implies more than 40% upside. Ransom's $10 price target implies about 37.6% potential upside for the stock, which has gained 8.5% this year. Mailk said he likes the buy-rated stock on "secular AI growth opportunities" and maintained his $1,030 price target. New Street Research maintained its buy rating and $1,100 price target ahead of the quarterly print.

Persons: Jack, Piper Sandler, GoodRx, Raymond James Raymond James, John Ransom, — Pia Singh, Tesla, Dell, Amit Daryanani, Daryanani, Wolfe, Chris Caso, Caso, INTC, Coupang, Jennifer Han, Han, that's, Nvidia's, Piper Sandler's Harsh Kumar, Kumar, Blackwell, Atif Malik, Mailk, Pierre Ferragu, Logan Reich, JACK YTD, Fred Imbert Organizations: CNBC, Nvidia, Wall, RBC, Citi, New, Research, Kroger, pharma, Dell, DELL, Wolfe Research, Intel, UBS, Blackwell, RBC Capital Markets Locations: Korea

☆ Walmart's earnings report gave shareholders exactly what they hoped for, says UBS' Michael Lasser
▼ + stars: | 2024-05-16 | 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 EmailWalmart's earnings report gave shareholders exactly what they hoped for, says UBS' Michael LasserMichael Lasser, UBS retail analyst, joins 'Squawk on the Street' to discuss what markets are keying in on with Walmart's quarterly earnings results, if the company can reach its growth target, and more.

Persons: Michael Lasser Michael Lasser Organizations: UBS

☆ With S&P back at new highs, now come the price target and earnings revisions
▼ + stars: | 2024-05-16 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Now that the S & P 500 and most major stock market indexes are at or near historic highs, expect a raft of earnings and year-end price target revisions for the S & P 500 to be coming. First up with an upward revision was Brian Belski at BMO Capital, who Wednesday raised his year-end S & P target to 5,600 from 5,100. The median price target (half above, half below) is 5,200. Earnings for the rest of the year have been remarkably stable, but the key point is that each quarter is higher and a record for S & P 500 profits: 2024 S & P 500 quarterly earnings estimates Q2: $59.46 (record) Q3: $63.49 (record) Q4: $65.08 (record) Source: LSEG Valuations (roughly 20 times forward S & P 500 earnings) are pricey but not unreasonable given the continuing strength of the economy and the prospects of AI-boosted returns. May: market advance broadens (advance/decline line) S & P 500: near new high S & P Mid Cap: new high S & P Small Cap: highest since Dec.

Persons: Sam Stovall, CFRA, Brian Belski, Belski, Subramanian, Venu Krishna, Goldman Sachs, David Kostin, Ned Davis, Ed Clissold, Oppenheimer, John Stoltzfus, Lori Calvasina, Manish, Nicolaus, Barry Banniester, Jonathan Golub, Chris Harvey, Dubravko, Bujas, Cantor Fitzgerald, Eric Johnson, Scott Chronert, Julian Emanuel, Fundstrat, Tom Lee, Morgan Stanley, Mike Wilson, Hugo Ste, Stovall Organizations: BMO Capital, Wall, of America, Barclays, BMO, RBC, Societe Generale, UBS, Bloomberg, Citigroup, Deutsche Bank, ISI, JPMorgan, Scotiabank, @VX Locations: Wells Fargo, Marie

☆ Stocks making biggest moves premarket: Under Armour, Walmart, AMC, GameStop, Canada Goose and more
▼ + stars: | 2024-05-16 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Under Armour — The sportswear maker's Class A shares slumped 11% and its Class C stock fell 9% after it issued lower-than-expected full-year earnings guidance. Under Armour now expects earnings in the range of 18 cents to 21 cents while analysts polled by FactSet had forecast 59 cents. Cisco Systems also hiked its 2024 revenue guidance, saying it now expects revenue of $53.7 billion at the midpoint of a range. Meme stocks — Shares of AMC and GameStop extended losses following the revival of the meme stock movement on Monday and Tuesday. Baidu reported CNY 31.51 billion ($4.7 billion) of revenue, topping the CNY 31.34 billion expected by analysts, according to StreetAccount.

Persons: Armour, FactSet, Goose, Warren Buffett's Berkshire Hathaway, Chubb, Deere, GoodRX, Raymond James, John Ransom, Coupang, Tesla, — CNBC's Michelle Fox, Hakyung Kim, Sarah Min, Samantha Subin, Jesse Pound Organizations: Walmart, Wall, LSEG, Revenue, —, Berkshire, Cisco Systems, AMC, GameStop, Deere, Company, Baidu, UBS, ISI, European Union, Facebook Locations: Krakow, Poland, The Seattle

☆ Stocks making the biggest moves midday: Walmart, Deere, Meta, Chubb and more
▼ + stars: | 2024-05-16 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

The company said it now expects net income of roughly $7 billion, down from a range of $7 billion to $7.5 billion. Walmart — Shares rallied nearly 6% after the company reported adjusted first-quarter earnings of 60 cents per share, topping the 52 cents expected from analysts polled by LSEG. Chubb — Shares of the insurance company advanced nearly 4% after Warren Buffett's Berkshire Hathaway revealed Chubb was the confidential stock the conglomerate had been purchasing for two straight quarters. Berkshire bought nearly 26 million shares for about $6.7 billion, making it the second-largest holder in Chubb, according to a regulatory filing. GameStop , AMC — The meme stocks retreated for a second day following a speculative rally in the beginning of the week.

Persons: Chubb, Warren Buffett's Berkshire Hathaway, Goose, GoodRx, Raymond James, Samantha Subin, Alex Harring, Yun Li, Pia Singh Organizations: European Union, Facebook, Deere — Deere, Walmart —, LSEG, Revenue, Walmart, Berkshire, GameStop, AMC, UBS, AIG, Nippon Life Locations: Corebridge

☆ This under-the-radar tech stock will get a boost from Netflix's new advertising strategy
▼ + stars: | 2024-05-16 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

A little-known technology stock could win big from Netflix 's shift in advertising strategy. The streaming giant announced Wednesday that it plans to debut its own advertising platform and partner with companies such as The Trade Desk and Magnite as its global ad-tier reaches 40 million monthly subscribers worldwide. While the partnership may take time to ramp up, Citi's Ygal Arounian estimates that it could add $500 million in 2025 gross billings to The Trade Desk. Every 10% of business funneled through The Trade Desk by 2026 could generate 2% upside to revenues, he estimates. "We also highlight TTD's scarcity value as the only scaled independent [demand-side platform] and its leadership in the highly-coveted CTV category."

Persons: Piper Sandler, Matt Farrell, Farrell, Morgan Stanley's Matthew, Chris Kuntarich Organizations: Netflix, billings, The, CTV, UBS

☆ Here are Thursday's biggest analyst calls: Nvidia, Netflix, Tesla, Intel, Robinhood & more
▼ + stars: | 2024-05-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Piper Sandler reiterates Nvidia as overweight Piper said it's sticking with its overweight rating heading into earnings next week. JPMorgan reiterates Netflix as overweight JPMorgan said it's sticking with its overweight rating following Netflix's upfront advertising presentation. Our price target moves to $340, reflecting channel commentary and recent multiple appreciation." JMP reiterates Robinhood as market outperform JMP said it's sticking with its market outperform on the stock trading company. "We are upgrading Wayfair Inc. to BUY from HOLD, with a price target of $83."

Persons: Piper Sandler, Piper, NVDA, Blackwell, Wolfe, underperform Wolfe, Houghton, it's, Truist, JMP, Goldman Sachs, Goldman, Dell, DELL, Wells, Jack, Tesla, Raymond James, Wolfe Alpha, SharkNinja, Argus Organizations: Citi, Nvidia, JPMorgan, Netflix, Intel, Energy, Networks, FedEx, UBS, Texas, RBC, Holdings, Devices, Alpha, AMD, " Bank of America, Bank of America, of America, Wayfair Inc Locations: 2H25, Asia, China

☆ ValueAct reveals stake in Fanduel-parent Flutter Entertainment
▼ + stars: | 2024-05-16 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

ValueAct Capital on Wednesday unveiled a stake in Flutter Entertainment , the Dublin-based parent company of sports betting firm Fanduel. It is possible that ValueAct previously had some other exposure to Flutter. The hedge fund previously had a position in The Stars Group, which was acquired by Flutter in 2020. While the ValueAct stake in Flutter is small, Gordon Haskett analyst Don Bilson pointed out in a note to clients that UBS also reported a stake in the gaming company. UBS has previously worked with ValueAct to build stakes in individual stocks for the hedge fund, Bilson said.

Persons: Mason Morfit, ValueAct, Walt Disney, Gordon Haskett, Don Bilson, Bilson Organizations: Capital, Walt, Securities and Exchange Commission, Stars, UBS, New York Stock Exchange, NYSE, Seagate Technology Holdings, Paycom Locations: Dublin, ValueAct

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