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The Club on Friday is changing the rating and price target on one of our favorite semiconductor stocks, while updating the price targets on four other names in the portfolio to reflect recent earnings, new internal developments and broader economic forces. We're increasing our price target on Broadcom to $1,200 a share, up from $1,000 to reflect the strong quarter it reported last week. We are increasing our price target on Costco Wholesale to $680 a share, up from $630. We are increasing our price target on Palo Alto Networks to $320 a share, up from $300. The move comes after raising our price target earlier in the month to $300, from $280.
Persons: It's, Carrier, Wells Fargo, Wells, Jim Cramer's, Jim Cramer, Jim, Brent Lewin Organizations: Broadcom, VMware, Costco, Costco Wholesale, Honeywell, U.S, Palo Alto Networks, Federal, CNBC, Apple, Bloomberg, Getty Locations: Palo, Wells, Wells Fargo, PANW
In aggregate, the survey results point to a 60 to 70 basis point acceleration for IT spending growth in each of the next three years, with cloud spending growth much stronger at 150 to 300 basis points. Cloud and AI A rebound in cloud growth is expected thanks in large part the renewed focus and need to invest in artificial intelligence. In fact, 73% of the CIO respondents said they are "implementing now, plan to implement, or are testing generative AI." As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Piper Sandler's, Piper, OpenAI, Einstein, Jim Cramer, Jim Cramer's, Jim, Chino Organizations: Microsoft, Web Services, Google, IBM, Oracle, Nvidia, Piper, Broadcom, Marvell Technology, VMWare, Cybersecurity, Palo Alto Networks, Broadcom —, CNBC Locations: Silicon Valley, America
After closing at its highest level of 2023 on Friday , the first day of December, the S & P 500 fell Monday. A mixed picture is revealed when looking at how every Club stock has performed in December over the past decade. The best-performing Club stock over the past 10 Decembers is Broadcom (AVGO), which has an average gain of 7.1% in the month. Salesforce (CRM) is the worst-performing Club stock in December over the past decade, falling 4.53% on average in the month. Amazon (AMZN), Coterra Energy (CTRA) and Costco (COST) round out the bottom five December performers over the past decade.
Persons: Sam Stovall, Santa Claus, hasn't, It's, Thursday's, Estee Lauder, Eli Lilly, , Jim Cramer's, Jim Cramer, Jim, Tayfun Organizations: GE Healthcare, Broadcom, Procter & Gamble, Wynn Resorts, WYNN, Salesforce, Ford, Palo Alto Networks, Coterra Energy, Costco, Amazon, Caterpillar, Jim Cramer's Charitable, CNBC, Wall, York Stock Exchange, Financial, Anadolu Agency, Getty Locations: Santa, Broad St, New York City, United States
Grimes alleged Elon Musk spent less than half his time in 2023 in Texas, in recent legal filings. Musk still spends two to three days a week in California, Grimes alleged. AdvertisementElon Musk — who moved Tesla's headquarters from California to Texas in 2021— has been spending less than half his time in the Lone Star State, Grimes alleged in recent legal documents. Musk quietly sued Grimes in Texas court in September to establish a "parent-child" relationship with the kids. While Grimes has said the child was with Musk in Texas over her objection, the details around the arrangement, and how she responded, are unclear.
Persons: Grimes, Elon Musk, Musk, , Elon, Claire Boucher, X, Christopher Melcher, Walzer Melcher, Tesla, Peter Walzer Organizations: Service, Lone Star State, Tau, Business, Musk, Street Journal, Montessori, Twitter, SpaceX Locations: Texas, California, Austin , Texas, Austin, Hawthorne , California, Brownsville , Texas, Bay Area . Texas, Starbase, SpaceX's, Boca Chica , Texas, Snailbrook, Boring, Bastrop , Texas, State, San Francisco, Palo Alto
Last year, suicide rates in the U.S. were the highest they had been since 1941, according to data from the Centers for Disease Control and Prevention. From 2007 through 2021, suicide rates for Americans ages 10 to 24 rose 62%, according to the CDC. Young people don't think they can make 'a significant difference'Financial instability has proven to be a large contributing factor in youth suicide. In 2014 and 2015, suicide rates at the Massachusetts Institute of Technology surpassed the national average, which was about 13 deaths per year, according to CDC data. Easier access to guns is linked to increased suicide rates, as well, as gun suicides reached an all-time high in 2022, according to CDC data.
Persons: Young, Katie Meyer, Ian Alexander Jr, Regina King, Ellis Lariviere, Mariana Fabiana, , Fabiana, Gen Z, ideation, Michele Berk, Berk, Bessel, Van der Kolk, Gen, Carl Fleischer, Fleischer, Nate Bronstein, it's, It's, Carl Fleisher, Jennifer Breheny Wallace, Wallace Organizations: Stanford University, Centers for Disease Control, North Carolina State University, Columbia University, Massachusetts Institute of Technology, MIT, CDC, Boston Child Study, Facebook, Harvard, Yale University, University of California Locations: Brooklyn , New York, U.S, Palo Alto , California, Los Angeles, Chicago
Cramer's Lightning Round: Crocs is 'too dicey'
  + stars: | 2023-12-05 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Weyerhaeuser's year-to-date stock performance. Stock Chart Icon Stock chart icon RadNet's year-to-date stock performance. Stock Chart Icon Stock chart icon Stellantis' year-to-date stock performance. Stock Chart Icon Stock chart icon Crocs' year-to-date stock performance. Stock Chart Icon Stock chart icon Masimo's year-to-date stock performance.
Persons: Wes Edens, NextEra, Berger, Stellantis, Crocs, I'm Organizations: Weyerhaeuser, Theft, New Fortress Energy, NextEra, American Electric Power, Apple Locations: Palo Alto
There are a lot of differences between Portland Ore., and Palo Alto, Calif.: the weather, size, topography and cost of living, to name just a few. For Michelle Tam, food blogger, home chef and author of three cookbooks, the difference that mattered most was the food scene. In Palo Alto, where Tam has lived since 2006, “people aren’t as focused on food,” she says. In Portland, where she just moved into a newly built, modern second home, she says not only is there a vast array of restaurants across the whole city, but even the food carts are great. “It’s really easy to find any kind of food here,” she says.
Persons: Michelle Tam, Tam, , Organizations: Portland Locations: Palo Alto, Calif, Portland
Morgan Stanley thinks Palo Alto Networks will be the leader in artificial intelligence-driven security platforms, eventually propelling it far past its peers. Palo Alto Networks on Friday approached $300 a share, becoming the first cybersecurity company to surpass $100 billion in market capitalization, the investment bank said. Morgan Stanley rates Palo Also overweight and has a $304 price target on the stock, but the most bullish case says the stock is worth $350. Palo Alto Networks' growth is a significant milestone for the security industry, according to Fodderwala. Correction: Cortex XSIAM is a security platform from Palo Alto Networks.
Persons: Morgan Stanley, Hamza Fodderwala, Fodderwala, CNBC's Michael Bloom Organizations: Networks, Alto Networks, Palo Alto Networks Locations: Palo, billings
Wells Fargo downgrades Lululemon to equal weight from overweight Wells said in its downgrade of the stock that it sees less balanced risk/reward. Morgan Stanley downgrades Sea Limited to equal weight from overweight Morgan Stanley downgraded the Singapore-based tech conglomerate until its business outlook is clearer. Morgan Stanley upgrades Insulet to overweight from equal weight Morgan Stanley initiated the insulin pump therapy company and said it sees room for further gains. Wells Fargo reiterates Nike as overweight Wells says Nike is a top defensive pick for 2024. Morgan Stanley reiterates Palo Alto as overweight Morgan Stanley said Palo Alto shares have the poten tial to rise further.
Persons: Morgan Stanley, Mizuho, Wells, LULU, Roth, Evercore, Piper Sandler, Piper, NVDA, Goldman Sachs, Goldman, it's bullish, KeyBanc, Worthington Enterprises –, TD Cowen, Coinbase, underperform TD Cowen, Oppenheimer, Uber, Truist, Herc, Palo Organizations: West Bancorp, Bank of America, Union Pacific, US Bancorp, Motors, Mizuho, GM, UAW, UBS, Apple, Deutsche Bank downgrades Anheuser Busch InBev, Deutsche, Deutsche Bank, Airlines, Alaska, " Bank of America, Google, Walmart, Nvidia, AMD, European Partners, Coke, JPMorgan, of America, Magellan, MMP, Arrowhead Pharmaceuticals, Arrowhead Pharma, Worthington Steel, Worthington Industries, Worthington Enterprises, Barclays, Resources, Herc Holdings, United Rentals, Nike, Palo Alto, Palo Locations: China, Singapore, Indonesia
Lululemon — Shares declined 2% after Wells Fargo downgraded the athleisure company to equal weight from overweight. The firm said Lululemon's prior positive catalysts have already played out, and it forecasts more muted growth in 2024. Spotify — Shares added 8.8% after the music streaming company announced it would lay off 17% of its workforce. The three stocks will replace Sealed Air , Alaska Air Group and SolarEdge Technologies . Virgin Galactic — Shares of the space company plunged nearly 15%.
Persons: Wells, MicroStrategy, Dow, FirstSource, Richard Branson, Branson, KeyBanc, Carvana, Morgan Stanley, — CNBC's Hakyung Kim, Jesse Pound, Alex Harring, Samantha Subin, Yun Li, Lisa Kailai Han, Sarah Min, Michelle Fox Organizations: Marathon, Spotify, Technologies, Uber Technologies, Dow Jones, Builders, Alaska Air Group, SolarEdge Technologies, Galactic —, Financial, United, JPMorgan, Alaska Air Group —, Hawaiian Airlines, Alaska Air, Hawaiian Holdings, General Motors, Cadillac, Chevrolet, Mizuho Securities, United Auto Workers, Palo Alto, Palo Alto Network Locations: MicroStrategy, British, Seattle, Palo
But chasing lower quality stocks is not a great long-term strategy. That's why we look to buy high quality companies when they are put on sale. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Jim, Estee Lauder, hasn't, Jim Cramer's Organizations: CNBC, Federal Reserve, Microsoft, Palo Alto Networks, Nike, Jim Cramer's Charitable Locations: Palo
Why investors should stick with Palo Alto Networks long term
  + stars: | 2023-12-04 | by ( Jeff Marks | ) www.cnbc.com   time to read: +3 min
Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Emerson, We're, Morgan Stanley, Jim Cramer's, Jim Organizations: CNBC, Big Tech, Nasdaq, Labor, Treasury, West Texas, Emerson, National Instruments, Club, Palo Alto Networks Locations: Friday's, Eaton, pullbacks
Here are JPMorgan’s top stock picks heading into December
  + stars: | 2023-12-01 | by ( Brian Evans | ) www.cnbc.com   time to read: +1 min
JPMorgan Chase added a key information security stock to its list of favorite stock picks for December and parted with three names, including HP , from November . The firm added CyberArk to its Analyst Focus List, as well as biopharmaceutical firm Cytokinetics . The JPMorgan list covers its best stock ideas that fit into three categories: growth, value and short investment ideas. Here are some of the other top picks on the JPMorgan list. CYBR YTD mountain CyberArk stock.
Persons: JPMorgan Chase, Nicholas Rosato Jr, Rosato, — CNBC's Michael Bloom Organizations: JPMorgan, HP, Palo Alto Networks, North
FL YTD mountain Foot Locker (FL) performance year-to-date Foot Locker (FL) climbed 28.3% during November, making it the Club's No. Foot Locker stock, down more than 26% year-to-date, closed 1.4% lower Thursday, at just under $27.28 apiece. CRM YTD mountain Salesforce (CRM) performance year-to-date Salesforce (CRM) shares jumped 25.4% in November, coming in second place for monthly gains. NVDA YTD mountain Nvidia (NVDA) performance year-to-date Nvidia (NVDA) — an "own it, don't trade it" name — was the portfolio's fifth-best performer in November. WFC YTD mountain Wells Fargo (WFC) performance year-to-date Shares of Wells Fargo (WFC) jumped 12.07% in November, as the broader market rally lifted financials.
Persons: Jim Cramer, Mary Dillon's, Locker, Palo, CrowdStrike, We're bullish, , Wall, Walt Disney, Nelson Peltz's, Wells, Morgan Stanley, Sam Altman, OpenAI, Altman, Jim Cramer's, Jim, Michael M Organizations: , Palo Alto Networks, Palo Alto, Management, Nvidia, DIS, Walt Disney, Disney, Oracle, Microsoft, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: FL, Palo, Palo Alto, Wells, Wells Fargo, OpenAI, DHR
The Club on Friday is changing the rating and price target on one of our favorite stocks, and updating the price targets on 5 other names in the portfolio to reflect recent quarterly earnings reports, new developments at the companies and broader economic forces. We're increasing our price target on shares of Palo Alto (PANW) to $300 from $280. We're raising our price target on shares of Salesforce (CRM) to $275 from $240. We're lowering our price target for Ford (F) stock to $13 from $16. We're lifting our price target on shares of Eli Lilly (LLY) to $630 from $600.
Persons: PANW, Ford, Linde's, Linde, Eli Lilly, it's, It's, Jim Cramer's, Jim Cramer, Jim Organizations: Palo, Palo Alto Networks, Costco, Ford, UAW, Management, Motors, GM, Linde, LIN, P Healthcare, donanemab, Novo Nordisk, Pfizer, CNBC Locations: Alzheimer's, Lilly, Santa Clara , California
Hock Tan, the CEO of Broadcom, said in an all-hands meeting Tuesday that he expects employees living within 50 miles of an office to return to in-person work. One submitted question was: "What can you tell me about headquarters, office locations, and remote work?" "Any other exception, you better learn how to walk on water if you want to work remote," Tan said at the meeting. Broadcom laid off some VMware employees earlier this week, BI first reported. Before the acquisition closing, Tan was already telling VMware employees that he expected them to return to the office.
Persons: Hock Tan, Tan Organizations: Broadcom, VMware, Business Locations: Palo Alto , California, Palo Alto
A vegan diet differs from a vegetarian diet in that it eliminates not only animal flesh but dairy, eggs or any other ingredient derived from animals. In each pair, one twin was assigned a vegan diet, while the other was assigned an omnivore diet. “I feel like a lot of people who do a vegan diet think ‘Oh great, soda is vegan. Cutting back on eating meat and animal byproducts can be done slowly, bit by bit. Harvard’s Hu agreed: “While this study showed a vegan diet may provide additional advantages compared to a healthy omnivorous diet, it does not mean that everyone should become a vegan or vegetarian.
Persons: , Christopher Gardner, Gardner, , ” Alice Lichtenstein, Frank Hu, ” Hu, ” Gardner, “ I’m, quinoa, there’s, Harvard’s Hu Organizations: CNN, Stanford Prevention Research Center, Nutrition Studies Research, Stanford, Tufts University’s Cardiovascular Nutrition Laboratory, Harvard, of Public Health, JAMA Locations: Palo Alto , California, Chan, Boston, Brussels, Yukon
Broadcom CEO Hock Tan plans to consolidate some teams at VMware following his blockbuster acquisition of the cloud software provider. He said Broadcom plans to consolidate offices and teams at VMware, particularly those in sales, HR, and finance, according to a recording of the meeting reviewed by Business Insider. "Broadcom has a software group that sells to many of the same customers VMware sells to," Tan said at the meeting. Already, Broadcom has started laying off VMware employees, BI first reported. Besides consolidating teams and laying off employees, Broadcom is looking into strategic alternatives for its End-User Computing and Carbon Black units, Tan said in an email last week.
Persons: Hock Tan, Tan Organizations: Broadcom, VMware, Business, San Francisco Bay Area, San Francisco Chronicle Locations: San Francisco Bay, Palo Alto
CNBC's Jim Cramer on Thursday named Palo Alto Networks (PANW) his top cybersecurity stock pick after the company became the first in its group to reach a $100 billion market cap. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. "The winner and new champion of cybersecurity may actually be Palo Alto," Cramer said during "Squawk on the Street," citing the milestone that was a goal of management.
Persons: CNBC's Jim Cramer, Jim Cramer's, Cramer Organizations: Palo Alto Networks Locations: Palo
They also advised modeling hard work and integrity. Three parents whose kids grew up to be impressive adults say parents should do three things to raise successful children. 1 goal was to teach them to believe in themselves, and I started that when they were born," Wojcicki told Business Insider. Martinez said she had her sons work as early as 7 years old, even if just for a few hours. She said they worked the coat check at her restaurant because she wanted them to learn the value of hard work and independence.
Persons: who've, , Esther Wojcicki, Susan, Anne, Janet, Wojcicki, Mister Rogers, Zarela Martinez, Aarón Sánchez, Martinez, Ana, who'd, Pico Rivera, Cristian, Alex, César Jr, Roldán, childhoods Organizations: Service, Palo Alto High School Media Arts, YouTube, Business, Los Angeles ., Major League Soccer, Seattle Sounders, LA Galaxy Locations: New York, Guatemala, El Salvador, Pico, Los Angeles
Fed's Bowman says she still expects another interest rate hike
  + stars: | 2023-11-28 | by ( ) www.reuters.com   time to read: +3 min
U.S. Federal Reserve Governor Michelle Bowman poses at a conference on monetary policy at The Hoover Institution in Palo Alto, California, U.S., May 3, 2019. Earlier this month, the Fed kept its benchmark overnight lending rate unchanged in the 5.25%-5.50% range for the second consecutive policy meeting. However, Bowman has repeatedly been among a small minority of policymakers who have said they don't think the Fed's job is yet done. Likewise, some signs of interest rate insensitivity among businesses could dull the effects of tighter monetary policy and financial conditions on economic activity and inflation, Bowman said, and overall longer-term economic conditions might mean the Fed's policy rate may need to be higher than pre-pandemic norms. Earlier on Tuesday, Fed Governor Christopher Waller said he is "increasingly confident" the central bank's current policy setting will prove enough to return inflation to the Fed's target.
Persons: Michelle Bowman, Ann Saphir, Bowman, Jerome Powell, Christopher Waller, Lindsay Dunsmuir, Paul Simao Organizations: Federal, Hoover Institution, REUTES, Fed, Thomson Locations: Palo Alto , California, U.S, Salt Lake City , Utah
The initial post-earnings decline in Zscaler (ZS) shares opened the door for investors to soon buy the cybersecurity stock, CNBC's Jim Cramer said Tuesday. "When the smoke clears ... go back in because cybersecurity is still the hottest area in the U.S. economy," Cramer said on "Squawk on the Street." Shares of Zscaler were about flat around noon ET at $191 each, well off their lows earlier in the session. However, Cramer said investors were disappointed, in part, by a 37% quarter-over-quarter decline in total billings growth. For Zscaler, Cramer said he's also looking past the billings metrics and more focused on the long-term opportunity for the company because digital security threats remain abundant.
Persons: Jim Cramer, cybersecurity, Cramer, Jim Cramer's, he's Organizations: Palo Alto Networks, Trust, CNBC Locations: Zscaler, U.S, billings
Every weekday the CNBC Investing Club with Jim Cramer releases the Homestretch audio feature in time for the last hour of trading on Wall Street. With our recent trade, Jim said he's also evaluating the Club's position in underperforming stocks like Estee Lauder (EL) and Foot Locker (FL). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Stocks, Jim Jeff, Jim, he's, Estee Lauder, Jim Cramer's Organizations: CNBC, Citi, Microsoft, Palo Alto Networks, Costco, Nvidia, Jim Cramer's Charitable Locations: Palo
Wall Street experts are able to delve into the details and determine which stocks might have the best prospects for the long term. Here are five stocks favored by the top pros on the Street, according to TipRanks, a platform that ranks analysts based on their past performance. Saleh holds the 504th position among more than 8,600 analysts on TipRanks. (See Domino's Options Activity on TipRanks)Palo Alto NetworksAnother BTIG analyst, Gray Powell, is bullish on cybersecurity company Palo Alto Networks (PANW). Feinseth ranks No.337 among more than 8,600 analysts on TipRanks.
Persons: Peter Saleh, Saleh, Uber, Gray Powell, Powell, billings, Goldman Sachs, Kash Rangan, Rangan, TipRanks, Ivan Feinseth, Feinseth Organizations: Domino's, TipRanks, Palo Alto Networks, Google Cloud, Tigress, Intel Locations: Palo, billings, TipRanks
SAN JOSE, California (AP) — Computer chip and software maker Broadcom has announced it has cleared all regulatory hurdles and plans to complete its $69 billion acquisition of cloud technology company VMware on Wednesday. The company, based in San Jose, California, announced it planned to move ahead with the deal after China joined the list of countries that had given a go-ahead for the acquisition. Broadcom is paying $61 billion in cash and stock for VMware and taking on $8 billion of its debt, making this one of the biggest technology deals ever. The European Commission, the EU’s executive arm and top antitrust enforcer, cleared the deal after Broadcom made concessions to address its concerns about competition. VMware, which is based in Palo Alto, California, has close relations with every major cloud company and provider, including Amazon, Google and Microsoft.
Persons: Hock Tan, Tan Organizations: JOSE, Broadcom, VMware, Microsoft, Activision, Administration of, European Commission, Amazon, Google, European Union, Symantec, CA Technologies, VMWare Locations: California, San Jose , California, China, Europe, Palo Alto , California, Australia, Brazil, Canada, Israel, Japan, South Africa, South Korea, Taiwan, United Kingdom
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