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☆ Stocks making the biggest moves before the bell: Alibaba, Applied Materials, Gap and more
▼ + stars: | 2023-11-17 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in premarket trading. BJ's Wholesale Club — Shares retreated 4.6% in premarket trading after the company revised its expectation for comparable store sales in the fourth quarter amid shifting consumer behavior. Applied Materials — Shares slid 7.2% on Friday, a day after Reuters reported , citing sources, that the semiconductor company was under a Justice Department probe. Gap — The retailer soared 18.5% in premarket trading Friday. Marriott Vacations Worldwide — Shares of the timeshare company lost 2.5% after a Bank of America downgrade to underperform from neutral.

Persons: Alibaba, FactSet, Ross, Expedia, Morgan Stanley, — CNBC's Hakyung Kim, Sarah Min Organizations: BJ's Wholesale, Tenet Healthcare, Novant Health, Reuters, Justice Department, Ross, LSEG, Evercore ISI, Pacific Biosciences, UBS, biosciences, Barclays, Marriott, Bank of America Locations: Alibaba —, Carolina, California, GitLab

☆ Here are Friday's biggest analyst calls: Nvidia, Zoom, Expedia, Analog Devices, Cava, Roblox, Dick's & more
▼ + stars: | 2023-11-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Roth MKM downgrades ChargePoint to neutral from buy Roth said it's concerned about weak demand for charging equipment. UBS upgrades Pacific Biosciences to buy from neutral UBS said the biotech company has growth potential. Citi reiterates Microsoft as buy Citi said it's standing by its buy rating on the stock. Morgan Stanley upgrades Analog Devices to overweight from equal weight Morgan Stanley said the bottom is in sight for the semiconductor company. Truist initiates Dick's as buy Truist said in its initiation of the stock that it sees an attractive buying opportunity. "

Persons: Evercore, Roth, it's, CHPT, Wolfe, underperform Wolfe, RBLX, GitLab, Hubbell, Morgan Stanley, Carvana, Raymond James, Cava, Redburn, Piper Sandler, Piper, buybacks, Baird, Truist, Lululemon, Kimberly, Clark Organizations: EV, UBS, Pacific Biosciences, Citi, Microsoft, Barclays, JPMorgan, HSBC, UW, downgrades, Products, Nvidia, Coherus BioSciences, Goods, Zim Locations: ChargePoint, billings, 2Q24

Roth MKM downgraded the company to neutral from buy and cut its price target by $9 to $2. Janney, meanwhile, downgraded ChargePoint and assigned a price target of $5, which implies roughly 59% potential upside. Stifel, on the other hand, kept its buy rating and $10 price target based on its long-term view of the stock. Analyst Joseph Moore upgraded the semiconductor manufacturer to overweight from equal weight and upped his price target on the stock by $49 to $225. Kumar has an overweight rating on the stock and a price target of $620, implying upside of 25%.

Persons: Morgan Stanley, Piper Sandler, Roth MKM, Janney, Roth, Craig Irwin, — Pia Singh, Tyler Radke, Radke, Mark Mahaney, Mahaney, Airbnb, Joseph Moore, Moore, Harsh Kumar, Kumar, Fred Imbert Organizations: CNBC, EV, Citi, Communications, Microsoft, ISI, Nvidia Locations: Thursday's, North America, Europe, 2Q24 —, U.S

☆ Stocks making the biggest moves midday: Gap, Ross Stores, Tenet Healthcare and more
▼ + stars: | 2023-11-17 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Adjusted earnings of 59 cents per share smashed analysts' expectations of 19 cents per share, per LSEG. Revenue also beat estimates, coming in at $3.77 billion compared with the $3.6 billion forecast. Otherwise, the company topped fiscal fourth-quarter earnings and revenue estimates. It now forecasts third-quarter revenue of $108 million to $113 million, lower than prior guidance of $150 million to $165 million. Tenet Healthcare — Shares jumped more than 11% after Tenet Healthcare said it would sell three of its South Carolina hospitals to Novant Health.

Persons: Ross, Dillard's, GitLab, — CNBC's Brian Evans, Alex Harring, Hakyung Kim, Tanaya Macheel, Pia Singh Organizations: Old Navy, Revenue, Brands Holdings, Spectrum Brands, ChargePoint Holdings, Tenet, Tenet Healthcare, Novant Health, Ross Stores, Reuters, Justice Department, Pacific Biosciences, UBS, biosciences, —, ISI, Barclays Locations: South Carolina, California

☆ Evercore ISI's Greg Melich names these companies as his sleeper retail picks
▼ + stars: | 2023-11-16 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEvercore ISI's Greg Melich names these companies as his sleeper retail picksGreg Melich, equity analyst at Evercore ISI, joins 'Power Lunch' to discuss retail earnings for Target and Walmart.

Persons: Greg Melich Organizations: Evercore ISI, Target, Walmart

☆ The 'Ozempic effect' is weighing on gym stocks. But it could turn out to be a boom for the industry
▼ + stars: | 2023-11-16 | by ( Brian Evans | ) www.cnbc.com time to read: +5 min

Will gym stocks be hurt by an "Ozempic effect" similar to the blow that has rocked the medical device and food sector? Stock in Planet Fitness has slipped more than 16% from the start of the year, while Life Time has added roughly 20%. Planet Fitness sunk to a 52-week low in September after the company's board ousted Chris Rondeau as chief executive officer . PLNT YTD mountain Planet Fitness stock. At Life Time, anti-obesity medication is being incorporated into the weight loss programs it offers to members.

Persons: Simeon Siegel, it's, Jefferies, Chris Rondeau, Bahram Akradi, Warren Cheng, PLNT, Cheng, Jeff Zwiefel, Alexander Perry's, Perry, Curtis Harman, Harman, It's, Piper Sandler, Korinne Wolfmeyer, Wolfmeyer Organizations: BMO Capital Markets, ISI, Bank of America, GLP, Wellness, CNBC, Holdings, Nordisk's Ozempic

☆ Solar stocks could rebound in 2024 after a brutal year but interest rates will make or break the recovery
▼ + stars: | 2023-11-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: +6 min

Solar stocks could rebound in the second half of 2024 after taking a beating this year, though the industry's recovery depends largely on whether the Federal Reserve raises interest rates again. The rally comes as the residential solar industry looks toward the end of a rough year, with demand softening significantly as repeated rate hikes made installations unattractive for consumers. "The big headwind is interest rates," said Julien Dumoulin-Smith, a stock analyst who covers clean energy for Bank of America. Inventory problem The residential solar companies misread the market this year after a record 2022. The residential solar stocks will probably be broadly revisited on the buyside sometime around the spring of 2024, Blanchard said, though this also depends on what the Federal Reserve does with interest rates.

Persons: SolarEdge, Julien Dumoulin, Smith, we're, Corinne Blanchard, Blanchard, Wood Mackenzie, Jerome Powell, Goldman Sachs, James West, orderbook, West Organizations: Federal Reserve, Treasury, Bank of America, Deutsche Bank, Federal, Golden State, Utilities, Evercore ISI Locations: Dumoulin, California, Golden

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Apple, Disney, Microsoft, AMD, Amazon, Adobe & more
▼ + stars: | 2023-11-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley downgrades Freyr Battery to equal weight from overweight Morgan Stanley said the battery maker faces "significant challenges." Barclays upgrades Fortrea to overweight from equal weight Barclays said in its upgrade of the health contract research company that it sees improved bookings. Barclays upgrades Mosaic and Nutrien to overweight from underweight Barclays upgraded several potash and aggriculture companies and said a compelling entry point. " Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's standing by its overweight rating on shares of Tesla . Barclays reiterates Disney as equal weight Barclays said it's having trouble finding upside for Disney shares.

Persons: Wells, Needham, Docebo, Morgan Stanley downgrades Freyr, Morgan Stanley, FREY, Andrew Stanleick, Bernstein, Redburn, Goldman Sachs, Goldman, it's, Baird, Kraft Heinz, Miguel Patricio, " Roth, Marvell, Roth, Tesla, laggards, Evercore, TD Cowen, Cowen, We've Organizations: Microsoft, TAM, Deutsche Bank, Deutsche, UBS, Barclays, Mosaic, NTR, ICL, OW, UW, JPMorgan, Apple, Nvidia, Aspen Technology, Kraft, Marvell Technology, Devices, Tesla, Adobe, Disney Locations: BeautyHealth, U.S

☆ Stocks making the biggest moves midday: Home Depot, Fisker, SolarEdge and more
▼ + stars: | 2023-11-14 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Azenta — The life science stock jumped 13% on Tuesday, a day after the company delivered its fiscal fourth-quarter report. Home Depot — Shares of the home improvement retailer jumped 6% after the company posted third-quarter earnings and revenue that beat expectations. Enphase Energy , Solar Edge , First Solar – The solar power stocks surged on Tuesday, with Enphase adding nearly 14%. Solar companies and tech stocks are sensitive to interest rates, and fare well when bond yields decline. Adobe — The software stock climbed nearly 2% in midday trading.

Persons: FactSet, Matthew Shattock, Fisker, — CNBC's Pia Singh, Alex Harring, Michelle Fox, John Rosevear, Darla Mercado Organizations: Enphase, Solar, V.F, Corp, Amazon Web Services, Therapeutics, Federal, Deutsche Bank, EV, Adobe

☆ What Wall Street can expect from key Biden-Xi meeting as U.S.-China relations remain tense
▼ + stars: | 2023-11-14 | by ( Pia Singh | ) www.cnbc.com time to read: +7 min

Chinese companies, meanwhile, have accelerated in global patent holdings in the cybersecurity sector, according to a recent Nikkei report. More reassurance to Chinese investors To be sure, while these stocks continue to rally, investors in the U.S. largely remain cautious about making any trades based on expectations ahead of the Biden-Xi talks. If anything, Chinese investors could leave Wednesday with more reassurance—which China's economy desperately needs as it struggles to make a post-pandemic recovery. Chinese investors "remain concerned that the deterioration in the bilateral political relationship could have a negative impact on the Chinese economy," Matthews investment strategist Andy Rothman said. Shaun Rein of China Market Research Group told CNBC last week that the meeting "might lower down the temperature," but that he does not expect "anything meaningful" to come from it.

Persons: Joe Biden, Xi Jinping, Frederic Neumann, Neumann, Biden, Xi, Brian Gardner, Gardner, Neo Wang, Wang, Tesla, BYD, Matthews, Andy Rothman, Shaun Rein, Rein, Derek Scissors, CNBC's Organizations: HSBC, Economic Cooperation, South China Morning Post, U.S . Department of Commerce, Nikkei, Micro Devices, Intel, Nvidia, AMD, Micron, MU, Microsoft, Biden, China Market Research Group, CNBC, American Enterprise Institute Locations: China, U.S, Asia, San Francisco, Washington, Beijing, Tesla's China, Europe, South Korea, Japan

☆ Politicians falling short in problem-solving: CRFB's Maya McGuineas
▼ + stars: | 2023-11-13 | 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 EmailPoliticians falling short in problem-solving: CRFB's Maya McGuineasMaya McGuineas, Committee for a Responsible Federal Budget, and Krishna Guha, Evercore ISI, join 'The Exchange' to discuss the looming government shutdown deadline, increasing U.S. debt, and more.

Persons: McGuineas, Krishna Guha Organizations: Federal Budget, Evercore ISI

☆ U.S. recession where interest rates rise is unlikely, says Evercore's Krishna Guha
▼ + stars: | 2023-11-13 | 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 EmailU.S. recession where interest rates rise is unlikely, says Evercore's Krishna GuhaMaya MacGuineas, Committee for a Responsible Federal Budget president, and Krishna Guha, Evercore ISI head of global policy, join 'The Exchange' to discuss the looming government shutdown deadline, increasing U.S. debt, and more.

Persons: Evercore's Krishna Guha Maya MacGuineas, Krishna Guha, Evercore Organizations: U.S, Federal

☆ As Target shutters some stores, retailer looks to prove it can grow and avoid new setbacks
▼ + stars: | 2023-11-13 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

Melissa Repko | CNBCIn the Harlem neighborhood of New York City, Target 's first store to open in Manhattan has permanently shut its doors. This week, Target for the first time since the surprise store closures will update investors on its sales trends and efforts to overcome a string of challenges. Some other retailers, such as Nordstrom and Walmart , have also shut stores in major cities — though they have not specifically blamed theft. A bumpy ride for TargetFor more than a year, Target has endured rocky sales and stock performance. Target cut its full-year forecast in August, after already warning investors it expected lower sales than a year ago.

Persons: Melissa Repko, John Mulligan, Paul, Target's Mulligan, Greg Melich, They've Organizations: CNBC, NRF, Target, Nordstrom, Walmart, Evercore ISI Locations: Harlem, New York City, Manhattan, New York, Minneapolis, St, Chicago, San Francisco, Seattle, Portland

☆ Meta's Instagram and Facebook are growing faster than TikTok
▼ + stars: | 2023-11-13 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

During the third quarter, the Facebook app's daily active users grew by 1.5% and monthly active users grew by 1.8%, according to data from Apptopia. Instagram's daily users grew by 1.5% and monthly users grew by 1.6%. In its quarterly report , Meta said Facebook's total number of daily users, including web users, grew by 5%, while monthly users grew by 3%. There is one metric where TikTok still has Facebook and Instagram beat: how long the average user spends on the app. Instagram's average user spends 58 minutes a day on the app, while the average Facebook user spends about 45 minutes.

Persons: TikTok, Mark Zuckerberg, China's Bytedance, Evercore, Meta, Instagram, Adam Mosseri, Zuckerberg, Kali Hays Organizations: Meta, Facebook, Evercore, Twitter Locations: Apptopia, Instagram, SensorTower, TikTok, khays@insider.com, @hayskali

☆ Watch CNBC's full interview with Maya McGuineas and Krishna Guha
▼ + stars: | 2023-11-13 | 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 Maya McGuineas and Krishna GuhaMaya MacGuineas, Committee for a Responsible Federal Budget president, and Krishna Guha, Evercore ISI head of global policy, join 'The Exchange' to discuss the looming government shutdown deadline, increasing U.S. debt, and more.

Persons: Maya McGuineas, Krishna Guha Maya MacGuineas, Krishna Guha, Evercore Organizations: Federal

☆ Stocks making the biggest moves premarket: Disney, Lyft, Krispy Kreme and more
▼ + stars: | 2023-11-09 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Virgin Galactic posted a loss of 28 cents per share, versus the 43 cents per share loss expected by analysts polled by LSEG. Krispy Kreme — Shares of the donut maker dropped 4.8% after the company fell short of expectations on earnings and revenue. Krispy Kreme reported earnings of 3 cents per share on revenue of $407 million, while analysts polled by LSEG expected earnings of 6 cents per share on $414 million in revenue. The ridesharing company reported third-quarter bookings of $3.55 billion, lower than the $3.90 billion anticipated by analysts polled by FactSet. Earnings came out at $3.42 per share, while analysts polled by LSEG had called for $3.43 per share in earnings.

Persons: Virgin Galactic, Krispy Kreme, LSEG, Goldman Sachs, FactSet ., —, Bud, Dickinson, Wall, FactSet, CNBC's Hakyung Kim, Jesse Pound, Sarah Min, Lisa Kailai Han Organizations: Galactic, Virgin Galactic, LSEG . Revenue, Virgin, Disney —, Disney, ESPN, —, ISI, Barclays, Apellis Pharmaceuticals, FactSet, Arm, Anheuser, Busch InBev —, HSBC, Busch, Company Locations: U.S

The firm upgraded shares to neutral from sell in a Wednesday note, and slightly increased its target price to $5.50 from $5. The firm upgraded the offshore drilling company to overweight from equal weight in a Thursday note and raised its price target to $106 from $84. The bank reiterated a buy rating on Disney with a $120 per share price target, or about 42% upside from Wednesday's $84.50 close. Bank of America's Jessica Reif Ehrlich also reiterated a buy rating on Disney, albeit with a $110 per share price target, which implies more than 30% upside. The bank initiated coverage of the electric vehicle giant with a reduce rating accompanied by a $146 per share price target.

Persons: Goldman Sachs, Ygal Arounian, — Brian Evans, Bud Light, Carlos Laboy, BUD, Brian Evans, EBITDA, Stephanie Yee, Parker, Banks, Parker Hannifin, Nicole DeBlase, Eddie Kim, Brett Feldman, Bank of America's Jessica Reif Ehrlich, Bob Iger's, Michael Montani, Greg Melich, — Fred Imbert, Tesla, Michael Tyndall Organizations: CNBC, Tesla, HSBC, ISI, Analysts, Citi, Anheuser, Busch InBev HSBC, Busch InBev, Middle America, InBev, BUD, JPMorgan, Montrose Environmental, Deutsche Bank, Barclays, Disney, Bank of America's Locations: China, U.S, North America, Montrose, 3Q23, EBITDA, Valaris

☆ Here are Thursday's biggest analyst calls: Nvidia, Disney, Tesla, Instacart, Arm, Rivian, Target & more
▼ + stars: | 2023-11-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Thursday's biggest calls on Wall Street: Goldman Sachs initiates Apellis Pharmaceuticals as buy Goldman initiated the biotech company with a buy and says it sees "continued execution." Bank of America reiterates Disney as buy Bank of America said it's standing by its buy rating after Wednesday's earnings report. Goldman Sachs reiterates Arm as overweight Goldman said it's sticking with its buy rating after the stock's earnings report on Wednesday. Goldman Sachs reiterates Instacart as buy Goldman said it's sticking with its buy rating on the grocery delivery company after Instacart's earnings report on Wednesday. Morgan Stanley reiterates Rivian as overweight Morgan Stanley said it's sticking with its overweight rating on the electric vehicle company. "

Persons: Goldman Sachs, Goldman, Tesla, WK Kellogg, Kellogg, Wolfe, Instacart, Morgan Stanley, Rivian, Eli Lilly, MRK's Keytruda, Evercore, it's bullish, Parker, Wells, it's, Hein Schumacher Organizations: Apellis Pharmaceuticals, HSBC, Tesla, Barclays, JPMorgan, Bank of America, Disney, ARM, Deutsche Bank, Deutsche, Merck, pharma, TAP, Industrial, Nvidia, Anheuser, Busch InBev, Bud, Offshore, Unilever, OW, Citi Locations: North America, Montrose

☆ Analysts believe Rivian is turning around, Goldman sees 40% upside
▼ + stars: | 2023-11-08 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Rivian shares, meanwhile, are up 9% this month. What analysts are saying Goldman analyst Mark Delaney raised his price target by $2 to $25, implying shares can gain 43.5% from Tuesday's close. "If we gain more conviction in the timing/path to profitability we could be more positive on the stock," Delaney said. RIVN YTD mountain Rivian stock. He still raised his price target by $5 to $24, which implies shares can gain 37.8% over the next 12 months.

Persons: Goldman Sachs, Morgan Stanley, Rivian, Tesla, Ford, Goldman, Mark Delaney, Delaney, Chris McNally, McNally, Wells, Colin Langan, …, Langan, Piper Sandler, Alexander Potter Organizations: General Motors, Ford, Tesla, ISI Locations: North America, Tuesday's, Wells Fargo, Georgia, U.S

☆ MLS player ‘forcibly removed’ from referee’s locker room, says US and Canadian refereeing body
▼ + stars: | 2023-11-08 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +4 min

CNN —A soccer player was “forcibly removed” after entering the match officials’ locker room after the Major League Soccer (MLS) playoff game between FC Cincinnati and the New York Red Bulls earlier this month, according to the Professional Soccer Referees Association (PSRA). The PSRA represents referees that are licensed to officiate soccer matches by the Canadian Soccer Association or the United States Soccer Federation. “No one’s safety should ever be at risk & we expect MLS to act accordingly,” added the PSRA statement. Howard Smith/ISI Photos/Getty ImagesMiazga is a former Red Bulls player and came up through the team’s youth system. He told the Cincinnati Enquirer that one of the yellow cards was given for holding a heart-shaped hand gesture towards the home New York crowd.

Persons: “, ”, Matt Miazga, Victor Rivas, ” Miazga, Rivas, Howard Smith, “ I’m Organizations: CNN, Major League Soccer, FC Cincinnati, New York Red Bulls, Professional Soccer Referees Association, Cincinnati, Red Bulls, Twitter, Canadian Soccer Association, United States Soccer Federation, MLS, Cincinnati Enquirer, Athletic, Red Bull, FC Cincinnati’s, ” FC Cincinnati, Philadelphia Union, New Locations: Cincinnati, York, Ohio

(This is CNBC Pro's live coverage of Tuesday's analyst calls and Wall Street chatter. Meanwhile, Deutsche Bank downgraded Peloton to hold from buy, slashing its price target on the stock. ET: Deutsche Bank downgrades Peloton on challenging near-term outlook Deutsche Bank analyst Lee Horowitz downgraded Peloton to hold from buy Tuesday, slashing their price target to $4 from $13 per share. Rats gave a €71.0, or $75.84, price target on the stock, implying shares could jump 14%. Ralph Lauren (price target: $130, pointing to 13% upside): The analyst noted Ralph Lauren's "consistent execution" should allow the stock to hold its premium valuation relative to peers.

Persons: Vivek Arya, Arya, — Pia Singh, Lee Horowitz, Horowitz, Peloton's, Morgan Stanley Morgan Stanley, Martijn Rats, Steven Shemesh, Shemesh, Lowe's, Ralph Lauren, Michael Binetti, Binetti, Ralph Lauren —, TJX, Ralph Lauren's, Fred Imbert Organizations: CNBC, ISI, Nike, Deutsche Bank, RBC Capital Markets, Semiconductor, EV, BofA Bank of America, Carbide, Silicon Carbide, TAM, Depot, PCE, TJX, Athletic Locations: France

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Nike, TJX, Disney, Peloton, Re/Max, Home Depot and more
▼ + stars: | 2023-11-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating on the stock after its 10-K annual report. Morgan Stanley initiated Tal Education as overweight Morgan Stanley said the China education company is defensive. Morgan Stanley names TotalEnergies a top pick Morgan Stanley named TotalEnergies a top pick and says the energy company has "resource depth and resilience." Morgan Stanley reiterates Tesla as overweight Morgan Stanley said in a note Tuesday that Tesla needs to "stop missing numbers" and execute better, but that the firm is sticking with its overweight rating. Morgan Stanley downgrades Re/Max to underweight from equal weight Morgan Stanley said in its downgrade of Re/Max that it sees too many negative catalysts for the real estate company.

Persons: Morgan Stanley, Apple, it's, Edward Jones, Hewlett Packard, PC's, D.A, Davidson, Appian, Wells, Wells Fargo, financials, Tal, EDU, TAL, TotalEnergies, TJX, Goldman Sachs, Tesla, Melius, Morgan Stanley downgrades, Max Organizations: RBC, Home, ISI, Nike, Athletic, UBS, Apple, Citi, Deutsche Bank, TAM, Hewlett, Disney, Tal Education, BP, TJX Companies, Thomson Reuters, Nasdaq, Tesla, Nvidia Locations: Ceridian, China, OW

☆ Taylor Swift and Beyoncé won't prop up the US economy much longer, with Americans' COVID-era savings running dry
▼ + stars: | 2023-11-06 | by ( George Glover | ) www.businessinsider.com time to read: +5 min

But economists are warning the bump in growth won’t last forever, with Americans’ COVID-era savings running dry. AdvertisementAdvertisementTaylor Swift, Beyoncé, and the "Barbenheimer" box-office craze all gave the American economy a much-needed boost this summer. AdvertisementAdvertisementFunflation won't lastAmericans' summer spending splurge on concert and film tickets didn't come out of nowhere. "You've run down the savings rate so a lot of people have basically been spending well beyond what they've been earning. That's why the Taylor Swift economy isn't likely to last.

Persons: Taylor Swift, ’, —, Marc Ostwald, Anna Wong, Eliza Winger, they've, You've, that's, Freddie Mac, Beyonce Organizations: Service, ADM, Services International's, Bloomberg, ADM ISI's, Federal Reserve Locations: American

☆ Evercore ISI says S&P 500 may 'overshoot' year-end target
▼ + stars: | 2023-11-06 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

The S & P 500 has successfully weathered several key tests and should be in line for a year-end rally, according to Evercore ISI. "The implications set the S & P 500 on course to our year-end 4,450 PT, with a potential for overshoot to YTD highs," Emanuel continued. If the S & P 500 hits that mark, it means that the stock index will rise another 2% by the end of the year. The S & P 500 has fallen for three straight months and is down 5% since its year-to-date high near 4,600 in late July. .SPX YTD mountain The S & P 500 is down about 5% from its year to date high.

Persons: Julian Emanuel, Emanuel, — CNBC's Michael Bloom Organizations: ISI, Treasury, Survey

☆ Restaurant stocks McDonald's and Chipotle could be due for a pullback after the market's rally this week
▼ + stars: | 2023-11-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

The stock market is enjoying its best week of 2023, but some names may have gotten ahead of themselves. That said, some stocks have become overbought during this week's rally — and could be due for a pullback. MCD YTD mountain McDonald's stock Beverage company Coca-Cola was another one of the several consumer names on this week's overbought list. Here are the 10 most oversold names in the broad market index: Several health-care companies were among this week's most oversold stocks. SEDG 1D mountain SolarEdge shares Revvity, Henry Schein, Align Technology and Fortive are some of the other oversold names from this week.

Persons: McDonald, Kraft Heinz, Amgen, David Palmer, CNBC's, Dr Pepper, SolarEdge, Zvi Lando, Henry Schein Organizations: Dow Jones, Nasdaq, PayPal, Pfizer, CNBC, Beverage, PepsiCo, Monster Beverage, Grill, Darden, Moderna, Enphase Energy, SolarEdge Technologies, Technology Locations: U.S, Europe

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