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☆ This month's three big IPOs gave up their early gains this week, denting market confidence
▼ + stars: | 2023-09-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Three highly anticipated initial public offerings that came to market this past week raised investor hopes that a nearly two-year-long drought in IPOs might finally be coming to an end. In fact, the Renaissance IPO ETF that tracks aftermarket trading in recent IPOs picked up heading into Arm's offering, but fell 2.5% on Thursday and is down nearly 5% this month. Market barometer IPOs are a barometer of market confidence as investors bet on the hope that they are snatching up companies with strong growth potential, said Truist Advisory Service's chief market strategist Keith Lerner. The underwhelming performance of recent IPOs is just another sign that the choppy market waters are likely to continue, he added. From that perspective, the recent IPOs aren't necessarily a sign of market failure, according to Sarhan.

Persons: Adam Sarhan, —, Instacart, Keith Lerner, Lerner, Sarhan, Michael Bloom Organizations: Investments, ARM, Arm Holdings, Klaviyo, CART, Facebook Locations: IPOs, Arm's, British

It follows Russia's invasion of Ukraine and the loss of Moscow's cheap natural gas — an unprecedented shock to Germany’s energy-intensive industries, long the manufacturing powerhouse of Europe. The loss of cheap Russian natural gas needed to power factories “painfully damaged the business model of the German economy,” Kullmann told The Associated Press. One hotly debated solution: a government-funded cap on industrial electricity prices to get the economy through the renewable energy transition. However, squabbling among the coalition government over the energy price cap and a law barring new gas furnaces has exasperated business leaders. “The perception of Germany's underlying strength may also have contributed to the misguided decisions to exit nuclear energy, ban fracking for natural gas and bet on ample natural gas supplies from Russia,” he said.

Persons: “, Christian Kullmann, Kullmann, ” Kullmann, Evonik, Robert Habeck, Chancellor Olaf Scholz, Angela Merkel, —, Biden, Scholz, Evonik's Kullmann, Gerhard Schroeder, Holger Schmieding, ”, ” Schmieding, Schmieding Organizations: Jobs, International Monetary Fund, European Union, Evonik Industries, Associated Press, Greens Party, Social Democrat, Free Democrats, Companies, Schott AG, ” Locations: ESSEN, Germany, Ukraine, Europe, Europe's, Essen, Russia, Moscow, China, Bavarian, U.S, Lafayette , Indiana, Brussels, Berlin, Chile, Qatar, ” Germany, Berenberg

☆ Strikes are often buying opportunities for GM shares, but this time could be different
▼ + stars: | 2023-09-19 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

GM, led by CEO Mary Barra, tends to be the U.S. automaker most affected by strikes, historically speaking. During past work stoppages, GM has experienced 94% of total lost worker days among the Big Three U.S. auto manufacturers, Barclays said. The trading pattern for GM shares during walkouts has been somewhat predictable. GM has so far followed this trend, with shares barely changed on the year, compared with a 15% gain for the S & P 500 . in the eventual agreement that create an amount in excess of this would likely negatively impact post-strike stock performance," Levy said.

Persons: Mary Barra, Dan Levy, Levy Organizations: Motors, Barclays, GM, Big, United Auto Workers, UAW Locations: U.S, walkouts

☆ This apparel company's earnings are poised for growth over the next two years, Guggenheim says
▼ + stars: | 2023-09-18 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Ralph Lauren 's solid fundamentals have translated to a promising long-term growth outlook, according to Guggenheim. The firm upgraded shares of the apparel company to a buy rating from neutral on Monday, and initiated a price target of $166. Shares of Ralph Lauren have climbed nearly 8% since the start of 2023. RL YTD mountain Ralph Lauren stock year to date Analyst Robert Drbul cited the company's strong balance sheet and attractive valuation as reasons for the upgrade. The analyst expects Ralph Lauren's earnings to benefit from several cyclical tailwinds and boosted his estimates for the next two years.

Persons: Ralph Lauren, Lauren, Robert Drbul, Ralph Lauren's, Drbul, Michael Bloom Organizations: Guggenheim

☆ Historically volatile week will test the bull market in stocks
▼ + stars: | 2023-09-18 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

This historic weakness is well-enshrined in stock market lore and encapsulated in the old chestnut, "Sell Rosh Hashana and buy Yom Kippur." Triple witching refers to each quarter's simultaneous expiration of stock index futures and options and individual stock options. It may be true we are in a bull market, but it is certainly not a typical one. Instead of trying to pick winners, Marks sensibly proposes the opposite: You might also achieve that goal — of producing alpha, or outperformance — by holding fewer of the losers. That is why the vast majority of active stock pickers continue to underperform the market, and why money continues to flow into passive index funds.

Persons: Rosh Hashana, Jonathan Krinsky, Lowry, Howard Marks, Oaktree, Marks, FAANGs, Jesse Livermore, It's Organizations: Triple, Bulls, Apple, Microsoft, Nvidia, Tesla, Facebook, Netflix Locations: Yom, Yom Kippur

☆ Stocks making the biggest moves midday: General Motors, Stellantis, Planet Fitness, Adobe and more
▼ + stars: | 2023-09-15 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Nucor — The steelmaker fell 6.1% after offering worse-than-expected guidance for third-quarter earnings, with the company pointing to pricing and volume challenges. Core & Main — The infrastructure stock retreated 4.1% a day after it announced a secondary stock offering. The bank said Apellis has a favorable risk/reward ahead of third-quarter earnings. The Wall Street firm said the resumption of loan repayments introduce bookings risk to food delivery. The Wall Street firm said its pessimistic outlook was changing despite recent underperformance in the reinsurance space.

Persons: Stellantis, Chris Rondeau, Rondeau, Craig Benson, Nucor, Raymond James, Needham, Charles Shi, Lam, Goldman Sachs, Apellis, MoffettNathanson, Estée Lauder, Goldman, Yun Li, Jesse Pound, Samantha Subin, Pia Singh, Brian Evans, Lisa Kailai Han Organizations: UAW, General Motors Wentzville, General Motors, Ford, United Auto Workers began, Workers, CNBC, LSEG, PTC Therapeutics, Medicines Agency's, Medicinal Products, Arm, Investment, Bloomberg News, Apple, Dexcom, ASML Holding, Lam Research, Taiwan Semiconductor, Adobe, Bank of America, JPMorgan, Apellis Pharmaceuticals, Waste Systems Locations: Wentzville , Missouri, New Hampshire, Wells, underperform

But a person who worked closely with Ramaswamy said, "He thinks people are put on this earth to serve him." Roivant attracted investors including Masayoshi Son's SoftBank Vision Fund, Peter Thiel's Founders Fund, and the hedge fund Viking Global Investors. Former Roivant employees said Ramaswamy worked hard and expected the same of others. McLaughlin called the employee's recollection "inaccurate," adding that Ramaswamy "has never once raised his voice or used bad language with employees." At Roivant, Ramaswamy kept his politics largely to himself, former employees said.

Persons: Vivek Ramaswamy, Ramaswamy, He's, Donald Trump, Mike Pence, Nikki Haley, Ron DeSantis, Trump, George Soros, didn't, Taco Bell, he's, —, Vivek, Tricia McLaughlin, he'd, McLaughlin, takeout, Forbes, Vivek doesn't, they've, Roivant, Masayoshi, Peter Thiel's, Thiel, JD Vance, Bill Ackman, who'd, . Ramaswamy, Erik Gordon, Vance, John Phillips, Joyce Rosely, Phillips, Anson Frericks, they'd, Rosely, Frericks, They're, they're, Eric Balchunas, Todd Rosenbluth, Rosenbluth, Christopher Lenzo, Brandon Bell, Vivek Ramaswamy's, Katherine Long, Jack Newsham, Meghan Morris Organizations: pharma, Army Rangers, Biotech, Republican, nab, GOP, of Education, FBI, Nuclear Regulatory Commission, Federal Reserve, Florida, Roivant Sciences, General Electric, Yale Law School, Army, Rangers, Harvard, Yale, Fund, Viking Global, Leerink Partners, GlaxoSmithKline, Forbes, Big Pharma, Japan's Sumitomo Pharma Co, ., University of Michigan, FDA, US, Yale Law, ESG, The, Texas, Indiana, BlackRock, Vanguard, Bloomberg Intelligence, Fair, SEC Locations: Mexico, FiveThirtyEight, Roivant, Patagonia, Iowa, New York, Ohio, The Lever

☆ Recent weakness in this energy company's shares offer an 'attractive' entry point, BMO says
▼ + stars: | 2023-09-14 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

The recent pullback in First Solar shares has created an attractive entry point, according to BMO Capital Markets. Analyst Ameet Thakkar upgraded shares to outperform from market perform. "FSLR stock has declined by an unwarranted degree following its recent Analyst Day in our view. Underperformance has accelerated since the company's positive analyst day on Sept. 7, with the stock losing about 5% since. BMO views First Solar as a winner under the Inflation Reduction Act, which it believes will help the company's earnings power.

Persons: Ameet, Thakkar, Underperformance, — CNBC's Michael Bloom Organizations: BMO Capital Markets, BMO, U.S, PTC Locations: Wednesday's

☆ Berkshire Hathaway trims its HP stake as the PC maker continues to underperform
▼ + stars: | 2023-09-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway sold a portion of its stake in HP as the printer and PC maker continues its underperformance this year, according to a new regulatory filing . Berkshire still owns over $3 billion in HP shares after the trimming. HPQ 1Y mountain HP Two weeks ago, HP reported revenue for fiscal third quarter that missed analysts' expectations. When the HP stake was initially revealed, Buffett watchers said it was a classic value bet rather than a specific bet on HP's future or products. Many Buffett followers were reminded of a similar bet in the past that didn't work out very well for Berkshire -- IBM.

Persons: Warren, Berkshire Hathaway, hasn't, HPQ, Buffett, Morgan Stanley Organizations: HP, Berkshire, IBM Locations: Omaha, Berkshire

☆ UBS lays out the best names to play the $2 trillion clean energy transition
▼ + stars: | 2023-09-12 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

A tidal shift in corporate support for decarbonization pared with government funding for the energy transition has created a secular growth cycle that can exceed $2 trillion, according to UBS. Second-quarter earnings reports showed a "clear divergence" in whether and how companies would be helped by the approximately $600 billion in government benefits in support of the green energy transition, analyst Shneur Gershuni told clients. Following the latest corporate earnings season, Gershuni updated his list of stocks that investors can use to play the energy transition capital expenditure cycle. Here are 10 that made the most updated list, including all of his new additions: Sempra's addition came after announcements showing it was upping exposure to the energy transition, Gershuni said. Despite falling around 19% this year, the average analyst sees an upside of more than 32% ahead, according to LSEG.

Persons: Shneur Gershuni, Gershuni, Eaton, Goldman Sachs, Carly Davenport, — CNBC's Michael Bloom Organizations: UBS, DTE Energy, SPX Technologies, FTC, Eaton Corporation, LSEG, NextEra Energy Locations: Sempra

☆ Oil prices are pressuring airline stocks. These options trades can take advantage, Barclays says
▼ + stars: | 2023-09-12 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The spike in oil prices is weighing on airline stocks, and there is still time to for traders to take advantage of that relationship through options trades, according to Barclays. Such underperformance has been worse only 10% of the time in the past 25yrs," the Barclays note said on Tuesday. The options market does not appear to have priced in these risks, Pascale said, so Barclays recommended two short-term trades. This structure would lower the cost of the trade, though it would also limit the upside if the JETS ETF falls below the lower strike price. The Barclays note recommended using $18 and $17 as the strike prices.

Persons: Stefano Pascale, Morgan Stanley, Pascale, CNBC's Michael Bloom Organizations: Barclays, Futures, U.S, Texas, U.S . Global Jets ETF, JETS, Airlines, Tuesday, Delta Air Lines, Morgan, Jet, JETS ETF, DAL Locations: underperform

☆ Barclays cutting around 450 staff, UK trade union says
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

Barclays Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsLONDON, Sept 12 (Reuters) - A British union that represents workers at Barclays (BARC.L) said on Tuesday that the bank was cutting around 450 staff, as the lender cuts costs as it weighs a wider strategy overhaul. The Unite trade union said its members were informed by the bank of the decision. Venkatakrishnan is separately embarking on a wider strategy review, amid some investor dissatisfaction at the bank's underperformance relative to Wall Street investment banks. Reporting by Iain Withers and Muvija M; editing by William James; Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Dominic Hook, Venkatakrishnan, Iain Withers, Muvija, William James, Louise Heavens Organizations: Barclays Bank, REUTERS, Barclays, Reuters, C.S, Thomson

Reuters GraphicsReuters spoke to four shareholders that have launched activist campaigns who said that some big consumer goods companies are ripe for executive changes after failing to impress. Reuters GraphicsMany large consumer goods companies generally hold low levels of debt and are cash generative, said André Medeiros, managing director and Alvarez & Marsal's EMEA consumer and retail leader. 'ADVOCATING FOR MANAGEMENT CHANGE'Gianluca Ferrari, founding partner of investor Clearway Capital, said his firm had some consumer companies on its radar but declined to name them. He did not identify specific executives nor disclose the nature of his work with consumer companies. In October, Reuters reported that Peltz had approached former CEOs of consumer goods companies as candidates for the Unilever top job.

Persons: Danone's, Emmanuel Faber, David Samra, Samra, Alvarez, Marsal, André Medeiros, Nelson Peltz, Artisan's Samra, We're, Peltz, Heinz, Gianluca Ferrari, Ferrari, Clearway, Glanbia, Faber, Bluebell, Nicolas Ceron, Ceron, underperformance, Kraft Heinz, KHC.O, Andrew Hayes, Russell Reynolds, John Long, Korn, Long, Alan Jope departure's, Unilever's, Graeme Pitkethly, Hein Schumacher, Heinz's, Bill Johnson, Nelson, Richa Naidu, Matt Scuffham, Daniel Flynn Organizations: Artisan Partners, Reuters, Danone, Evian, Unilever, Consumer Products, Reuters Graphics Reuters, Reuters Graphics, Marsal's EMEA, Billionaire, Artisan, Cadbury Schweppes, Heinz, Trian, Bluebell Capital, shareholders, Bluebell, Diageo, Russell Reynolds Associates, Thomson Locations: York, H.J, Frankfurt, Western Europe, North America

☆ Morning Bid: China's weak property stocks set the pace
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 4, 2023. Property shares are taking a beating after weekend data showed new home sales in China's biggest cities slumped by half in the first week of this month. Reuters GraphicsMeanwhile, China's central bank yanked the yuan off a 16-year low by setting the strongest official midpoint fixing - as compared with market expectations - on record. BOE chief economist Huw Pill is on speaking duty today, setting the scene for British jobs data on Tuesday and GDP the day after. That makes U.S. CPI data due Wednesday the key data point to watch this week.

Persons: Kevin Buckland, HSI, Kazuo Ueda, it's, BOE, Huw Pill, Edmund Klamann Organizations: REUTERS, Staff, China . Property, Bank of Japan, Yomiuri, ECB, Bank of England, Fed, U.S, CPI, Reuters, Thomson Locations: Frankfurt, Germany, Europe, Asia, China, China's, Sweden, Italy

☆ Here's what Wall Street expects from the Apple iPhone event Tuesday and its meaning for the stock
▼ + stars: | 2023-09-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Apple's launch event, during which it's expected to introduce the iPhone 15 and Apple Watch Series 9, comes amid a tough backdrop for the stock in recent sessions. Long expects a $50 to $100 increase for the iPhone 15 Pro and a $100 to $200 hike for the Pro Max model. What it means for Apple shares Looking ahead, Wall Street sees a positive setup for Apple shares over the long term, but those tailwinds could take time to play out. AAPL YTD mountain Apple shares since the start of 2023. Data analyzed by Bernstein shows a similar pattern for Apple shares before and after a launch event.

Persons: Morgan Stanley, Erik Woodring, Tim Long, Long, CFRA's Angelo Zino, Jefferies, Andrew Uerkwitz, referringto, it's, Wamsi Mohan, Morgan Stanley's Woodring, Bernstein, Toni Sacconaghi, Woodring, Apple, Morgan Stanley's, — CNBC's Michael Bloom Organizations: Apple, Barclays, Apple Watch, Pro, Apple Vision, Bank of America, outperformance Locations: China, U.S

☆ Barclays drawing up plans for hundreds of job cuts -sources
▼ + stars: | 2023-09-08 | by ( Iain Withers | ) www.reuters.com time to read: +1 min

A branch of Barclays Bank is seen, in London, Britain, February 23, 2022. REUTERS/Peter Nicholls/File Photo Acquire Licensing RightsLONDON, Sept 8 (Reuters) - Barclays is drawing up plans to cut hundreds of jobs, two sources familiar with the matter told Reuters, as the bank trims its costs while embarking on a wider strategy review. Bloomberg reported earlier on Friday that the bank was weighing hundreds of job losses. Venkatakrishnan is separately embarking on a wider strategy review, amid some investor dissatisfaction at the bank's underperformance relative to Wall Street investment banks. Barclays' Wall Street rivals have also cut jobs this year, as investment banking revenues are taking a long time to recover.

Persons: Peter Nicholls, Venkatakrishnan, Morgan Stanley, Goldman Sachs, Iain Withers, Tatiana Bautzer, Jonathan Oatis Organizations: Barclays Bank, REUTERS, Barclays, Bloomberg, C.S, Wall, Citigroup, Thomson Locations: London, Britain, British

☆ JPMorgan trims Apple share price target ahead of iPhone 15 launch
▼ + stars: | 2023-09-08 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Apple has a challenge ahead as investors remain downbeat about the iPhone maker's upcoming launch, according to JPMorgan. Analyst Samik Chatterjee reiterated his overweight rating on the stock but lowered his price target by $5 to $230. This time around could be similar to a period when Apple's shares outperformed by meeting or beating low investor expectations for the iPhone 11, he said. A price increase across all iPhones, instead of only the Pro models, will incentivize consumers to choose the higher-end devices, he added. Despite near-term headwinds, however, the analyst maintained his "favorable outlook" on Apple's iPhone and services revenue, and he sees catalysts to accelerate revenue growth and upside potential.

Persons: Samik Chatterjee, Chatterjee, Apple, — Michael Bloom Organizations: Apple, JPMorgan

☆ Walmart is making an unusual move to deter theft by building a mini police station inside one of its stores
▼ + stars: | 2023-09-07 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

An arson-damaged Atlanta Walmart store is slated to include a mini police station when it reopens in 2024. Walmart is tapping City of Atlanta funds to keep the store operating amid a rise in retail crime. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. More than 20 other Walmart locations in the US have shuttered this year so far, typically due to underperformance. Approximately one in four dollars spent at US grocery stores are spent at Walmart, according to retail data service Numerator.

Persons: Andre Dickens, Doug McMillon, —, — Dickens Organizations: Atlanta Walmart, Walmart, Service, Atlanta Police Department, Merchants Association, MLK, Clark University Locations: Atlanta, Wall, Silicon, Vine City

That has put pressure on risky EM currencies, echoing the dynamics observed last year when the Fed began raising rates. In the Sept. 1-6 poll, almost all beaten-down emerging market currencies were forecast to move little, or trade modestly higher against the dollar in a year, with some making small gains in three months. The underperformance of China has probably been the biggest story holding back EM currencies." Earlier this year, many analysts expected China's reopening to boost the yuan and other EM currencies, especially those exporting commodities to the world's second-largest economy, but this scenario did not unfold as anticipated. Through the end of this year, we believe most EM Asia currencies can weaken," said Nick Bennenbroek, international economist at Wells Fargo.

Persons: Chris Turner, Nick Bennenbroek, Hugo Pienaar, Devayani Sathyan, Veronica Khongwir, Jonathan Cable, Sharon Singleton Organizations: Treasury, greenback, Fed, ING, Reserve Bank of India, Korean, Bureau for Economic Research, Thomson Locations: BENGALURU, JOHANNESBURG, China, Asia, Wells Fargo, Russian, South Africa, Bengaluru

☆ Buy this underperforming auto repair stock that can jump more than 20%, Wells Fargo says
▼ + stars: | 2023-09-07 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Investors should see opportunity after Valvoline 's recent sell-off, Wells Fargo said. "VVV is a high quality operator w/ category-leading comps, accelerating unit growth and an asset-light model," he said. While electric vehicles present a long-term risk, "recent underperformance is sharp and we see opportunity." While he noted shares trade 13% above auto service providers, they are below auto part peers, high-growth retailers and restaurants. While Lantz admitted that the rise of electric vehicles creates a risk, Valvoline is in a better position than others.

Persons: Valvoline, Wells Fargo, David Lantz, Lantz, — CNBC's Michael Bloom Locations: Aramco

☆ Jim Cramer says this lagging restaurant stock could help kickstart the Dow
▼ + stars: | 2023-09-07 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +2 min

Since the start of July, McDonald's has been among the worst-performing members of the 30-stock blue-chip Dow, down more than 7% entering Thursday's session. The advance comes after Wells Fargo upgraded McDonald's to a buy-equivalent rating, saying the company's "innovation engine is firing on all cylinders." McDonald's (MCD) returning to its winning ways would be a much-needed development for the Dow Jones Industrial Average, CNBC's Jim Cramer said Thursday, particularly in September, a historically weak month on Wall Street. "I think that this could matter," Cramer said on "Squawk on the Street," referring to Wells Fargo's bullish call. "It's a stock to watch because, if you can get a little momentum in the Dow, maybe it can separate some from the Nasdaq.

Persons: McDonald's, Wells, CNBC's Jim Cramer, Cramer, Jim Cramer's Organizations: Dow, Dow Jones, Nasdaq, Cramer's Charitable Trust, CNBC Locations: Cramer's

☆ Here's why Carter Worth is a 'seller' of Apple stock
▼ + stars: | 2023-09-07 | 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 EmailHere's why Carter Worth is a 'seller' of Apple stockCarter Worth, Worth Charting CEO, joins 'The Exchange' to discuss Apple's underperformance and what the chart says to him.

Persons: Carter Worth, Carter Organizations: Apple, Worth

☆ Investors’ China aversion is bad for everyone
▼ + stars: | 2023-09-07 | by ( Una Galani | ) www.reuters.com time to read: +7 min

FIERCE RESTRAINTAs a country on the cusp of high-income status, China ought to be a magnet for overseas investors. Companies in the MSCI China Index trade at 10 times their expected earnings for the next twelve months, half the level of the S&P 500 Index. However, assets following these mandates remain insignificant compared to the $1.3 trillion benchmarked to MSCI’s Emerging Markets Index. However, they have played a bigger role in the past decade funding Chinese companies through Hong Kong and U.S. listings. Chinese equities have a combined market value of $15 trillion, greater than Japanese, French, Indian and British stocks combined.

Persons: Xi Jinping, Goldman Sachs, Gavekal Dragonomics, Gavekal, Tesla, John Welling, Dow, Xi, Peter Thal Larsen, Thomas Shum Organizations: Reuters, U.S . Federal, People’s Bank of, Treasury, HK, Companies, Apple, Microsoft, BlackRock, China, WHO, International, U.S, Reuters Graphics Reuters, Dow Jones, Global, Thomson Locations: MUMBAI, China, People’s Republic, People’s Bank of China, United States, Hong Kong, U.S, Gulf, Asia, North America, Shanghai, Shenzhen

☆ Wells Fargo upgrades McDonald's, says fast food giant is 'firing on all cylinders'
▼ + stars: | 2023-09-07 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

There are reasons to be bullish on McDonald's in the second half of this year, Wells Fargo said. Fadem said the company's "innovation engine is firing on all cylinders," while international markets are performing better than expected. McDonald's shares have sold off more than the broader market since its second-quarter earnings report in late July. And accelerated unit growth is just one way McDonald's can growth its earnings per share in the 2024 fiscal year, Fadem said. The stock has underperformed the broader market this year, up about 4.5% year to date.

Persons: Wells Fargo, Zachary Fadem, Fadem, — CNBC's Michael Bloom Organizations: comparables Locations: McDonald's

☆ Goldman says now's the time to buy this potato processing stock with 30% upside
▼ + stars: | 2023-09-05 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Goldman Sachs encourages investors to buy shares of potato products maker Lamb Weston , anticipating a comeback for the stock after a difficult few months. Analyst Adam Samuelson upgraded shares to buy from neutral. Shares have tumbled 15% since June 30, underperforming the S & P 500 and the Consumer Staples Select Sector SPDR Fund (XLP). LW XLP mountain 2023-06-30 LW vs XLP since June 30 "We see recent underperformance providing an attractive entry point," Samuelson wrote in a Monday note. He added that the company's stronger-than-expected fiscal fourth-quarter and fiscal 2024 outlook suggest "a balance of risks skewed to the upside."

Persons: Goldman Sachs, Lamb Weston, Adam Samuelson, Goldman, Samuelson, — CNBC's Michael Bloom Organizations: Consumer Locations: Asia

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