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Following Thursday's trade, Jim Cramer's Charitable Trust will own 350 shares of NXT with a weighting of about 0.5%. It's the "backbone" of any solar power system, as management would say. It's why we are starting this position on the smaller side, leaving plenty of room to scale over time. If the stock can trade up to 18 times the high end of its full-year earnings guidance, the stock will trade at $55. Last week, it announced it paid $119 million to buy Ojjo, a renewable energy company specializing in foundation technology and services used in utility-scale ground-mount applications for solar power generation.
Persons: Jim Cramer's, Locker, Nextracker, Dan Shugar, We'll, Solaredge, Jim Cramer, Jim Organizations: NXT, UBS, Meta, Microsoft, Google, U.S . Energy, Jim Cramer's Charitable, CNBC Locations: Nextracker, Thursday's, U.S, United States, Eaton
A Debate Cheat Sheet for Business
  + stars: | 2024-06-27 | by ( Andrew Ross Sorkin | Ravi Mattu | Bernhard Warner | ) www.nytimes.com   time to read: +3 min
Talking pointsAll eyes will be on CNN at 9 p.m. Eastern, when President Biden and Donald Trump face off in their first debate since 2020. Among the keenest watchers will be executives and investors looking for signs about how the candidates might handle the economy and business in a second term. There will be plenty to scrutinize in the 90-minute, audience-free debate, including what the candidates say and how they say it. What will Biden and Trump say about some of the key issues? In Thursday night’s debate, “markets probably care more about presentation than policy pledges,” Paul Donovan, an economist at UBS, wrote in a client note.
Persons: Biden, Donald Trump, Trump, ” David Bahnsen, DealBook, ” Paul Donovan, Elon Musk, There’s, J.D, Vance of, Doug Burgum, Marco Rubio Organizations: CNN, Bahnsen, UBS, Biden, Trump, Times, Gov Locations: Atlanta, Vance of Ohio, North Dakota, Marco Rubio of Florida
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect an 'exciting dividend announcement' from JPMorgan, says UBS's Erika NajarianErika Najarian, UBS managing director, joins 'Squawk on the Street' to discuss banks, 'stress test', and more.
Persons: UBS's Erika Najarian Erika Najarian Organizations: JPMorgan, UBS
Here are Thursday's biggest calls on Wall Street: Goldman Sachs reiterates Micron as buy Goldman said investors should buy the dip in the stock following earnings on Wednesday. Jefferies reiterates Nvidia, Marvell and Broadcom as buy Jefferies said it's sticking with its buy rating on all three companies. " Morgan Stanley initiates Viking Therapeutics as overweight Morgan Stanley said the biotech company has "best-in-class potential." Morgan Stanley adds Goldman Sachs to the financials finest list Morgan Stanley added the investment banking giant to its top financials ideas list. Morgan Stanley reiterates Coca-Cola as overweight Morgan Stanley said it's sticking with its overweight rating on the beverage giant.
Persons: Goldman Sachs, Goldman, Bernstein, Apple, Mizuho, KBW, it's, Jefferies, AVGO, KeyBanc, Texas Consolidator, TD Cowen, Grindr, GRND, Morgan Stanley, JPM, Oppenheimer, Kyndryl, CVNA, Truist Organizations: Micron, Apple, Bank of America, Petrobras, of America, Mizuho, Holdings, Grab Holdings, New York Mellon, Deutsche Bank, Emerson Electric Deutsche Bank, Nvidia, Marvell, Broadcom, Energy, Crescent Energy Co, Citi, Arista Networks, Arista, Viking Therapeutics, Macquarie, TPG, Markets, JPMorgan, Bancorp, UBS, Disney, Cable Locations: MU, Brazil, Texas, North America, CA
Preferred stocks can offer investors plenty of attractive income – and do so at a favorable tax rate – but they should proceed with caution before adding them to their portfolio. Preferred stocks are hybrid assets, combining attributes of bonds and equities, and their issuers include banks and utilities . He said these securities make up no more than 15% of his clients' fixed income allocation. Preferred investors would be paid before the stockholders, but they are well behind the bondholders in terms of priority. There is also the iShares Preferred and Income Securities ETF (PFF) , which has a 30-day SEC yield of 6.33%.
Persons: preferreds, Ken Waltzer, Frank Sileo, Collin Martin, Tapping, Wells Organizations: Wealth, UBS Financial Services, Americas, UBS, Poor's, Schwab Center, Financial Research, Trust Preferred Securities, SEC, Holdings, Barclays, Securities ETF, Citigroup, NextEra Locations: Los Angeles, Wells Fargo, Albemarle
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailImportant to divorce politics from portfolio construction, says UBS' Tom McLoughlinTom McLoughlin, UBS Global Wealth Management, Americas head of fixed income, joins 'Money Movers' to discuss how the 2024 presidential election will impact the markets.
Persons: Tom McLoughlin Tom McLoughlin Organizations: UBS, UBS Global Wealth Management Locations: Americas
Growth should remain resilient: UBS' Alli McCartney
  + stars: | 2024-06-26 | 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 EmailGrowth should remain resilient: UBS' Alli McCartneyAlli McCartney, managing director at UBS Alignment Partners, joins 'Money Movers' to discuss markets, economic data, earnings, and more.
Persons: Alli McCartney Alli McCartney Organizations: UBS, UBS Alignment Partners
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIPO market is coming back in Europe — but not in tech, UBS saysAthena Theodorou, head of software EMEA at UBS, discusses the outlook for M&A and IPOs in the U.S. and Europe.
Persons: Athena Theodorou Organizations: UBS Locations: Europe, U.S
Here are the biggest calls on Wall Street on Wednesday: Stifel initiates Tesla at buy Stifel said it's bullish on Tesla for the long term. JPMorgan upgrades FedEx to overweight from neutral JPMorgan upgraded the shipping giant following earnings on Tuesday. Jefferies reiterates Alphabet as buy Jefferies said its survey checks show Alphabet is top of mind for consumers when it comes to AI. Citi reiterates Nvidia as buy Citi raised its price target on Nvidia to $150 per share from $126. Morgan Stanley downgrades Accenture to equal weight from overweight Morgan Stanley said shares of the IT company are "no longer" attractive.
Persons: Tesla, Stifel, it's, Piper Sandler, Piper, Goldman Sachs, Goldman, Mark Clouse, Carrie Anderson, Rebecca Gardy, Wolfe, HOOD, Warnick, Shopify, Rosenblatt, Nike's, Morgan Stanley, Jefferies, GOOGL, Stephens, Wells, BTIG, Northrop, Rivian, Piper Sandler downgrades Aptiv Organizations: JPMorgan, FedEx, Campbell, Barclays, Nu Holdings, BMO, Steel, Nippon, US Steel, X, Digital Realty, Citi, U.S, Caterpillar, Apple, Apple Intelligence, Android, UBS, Nike, Nvidia, Davidson, Home, Bank of America, " Bank of America, shipper, UPS, Cruises, Northrop Grumman, VW, JV, Accenture Locations: 1Q24, Mexico, Brazil, China, Houston, U.S, Rivian
Here are Tuesday's biggest calls on Wall Street: Bank of America reiterates Nvidia as buy The firm named Nvidia to its best-of-breed list. Goldman Sachs reiterates Microsoft as buy Goldman said it's sticking with its buy rating on the stock. "We reiterate our Buy rating ($515 Price Target) on Microsoft as we see the company yielding strong returns on its Gen-AI investments." "We are initiating on Carpenter Technology (CRS) with a Buy rating and $144 target price (47% upside potential)." "We are initiating coverage on Rivian Automotive, Inc. (RIVN) with a BUY rating and $18 PT."
Persons: BoB, Goldman Sachs, Goldman, it's, TD Cowen, Zeta, Raymond James downgrades Penn, Raymond James, Wells, Tapestry's, Tesla, Piper Sandler, Uber, Piper, AMZN, Morgan Stanley, Ford, Evercore, Truist, Guggenheim, Rivian, Robinson, CHRW, Maxim, MicroStrategy Organizations: Bank of America, Nvidia, Disney, Microsoft, Technology, RBC, Zeta Global, PENN, UBS, Exxon, Deutsche Bank, Carpenter Technology, Tesla, Ford, TAP, Ball Corp, Rivian Automotive, Inc, Apple Locations: Capri, HNST
Citi analyst Andrew Kaplowitz upgraded his rating for the heating and ventilation company to buy from neutral. The analyst accompanied the move by upping his price target to $74 from $65, implying that shares of Carrier Global could rally 17% going forward. The financial institution raised its price target for Nvidia to $150 from $135. Analyst Erin Wright stood by her overweight rating on the health insurance stock, reiterating her $595 price target. Wright set a price target of $374, which is 23% higher than the insurance company's Friday closing price of $355.48.
Persons: Goldman Sachs, Andrew Kaplowitz, CARR, Kaplowitz, — Lisa Kailai Han, Jefferies, Blayne Curtis, kingmaker, Curtis, Lisa Kailai Han, Morgan Stanley, UnitedHealth, Morgan Stanley's, Erin Wright, Wright, Bernstein, Stephen Reitman, Ferrari, Reitman, Ferrari's, Sanjeet Aujla, Aujla, BUD, Christopher Danely, Danely, James Schneider, Schneider, Fred Imbert Organizations: CNBC, Monday, Citi, Micron Technology, IBM, Carrier Global, Carrier, Nvidia, Humana, Ferrari, UBS, Anheuser, Busch InBev It's, Busch InBev, Micron, Citi Citi, Dow Jones Industrial, Dow Locations: China, UnitedHealth, U.S, Friday's
The bank's analyst labeled the London-listed stock as "materially undervalued" as the company announced the resumption of dividends earlier this month after a five-year hiatus. Investec raised its price target to £2 ($2.53) a share, which points to a 116% upside potential. However, earlier this month, Card Factory said its 2024 fiscal year showed improved profitability, with the company expecting normal growth rates to return. UBS predicts Card Factory will earn £65 million in the next financial year, with sales running up to about £535 million. The investment bank raised its price target to £1.16 a share, indicating a 26% upside potential, but also maintained its "neutral" rating.
Persons: Kate Calvert, Investec, Saranja Sivachelvam, Sivachelvam Organizations: Factory, Card Factory, Investment, UBS, Card Locations: London, U.S, England, Calvert
A collection of stocks with strong earnings potential and discounted valuations may be a good way for investors to find value in the market. CVX YTD mountain Chevron stock. FDX YTD mountain FedEx stock. Altria Group is the most discounted stock on the list, with the stock's trailing 12-month P/E representing a 116% haircut compared with its five-year average. MO YTD mountain Altria Group stock.
Persons: Peer, haven't, Mike Wirth, Thomas Wadewitz Organizations: Nvidia, Broadcom, Qualcomm, CNBC Pro, CNBC, Stock, ., Chevron, Exxon Mobil, FedEx, UBS, U.S . Postal Service, Altria, U.S . Food, Drug Administration, Conagra Brands, Marathon Petroleum Locations: U.S
UPS shares were unchanged in premarket trading. Planet Fitness — The budget-friendly gym chain climbed 3.1% after TD Cowen named the stock a top pick and raised its rating to buy from hold. Affirm — The buy-now-pay-later stock jumped 3.2% on the heels of Goldman Sachs' initiation at a buy rating. IBM — The legacy tech giant moved 1.4% higher after Goldman Sachs initiated coverage with a buy rating. Cinemark — Shares popped 3.3% after Roth MKM upgraded the American movie theater chain to buy from neutral, citing "meaningful box office improvement."
Persons: Eli Lilly — ResMed, Eli Lilly's, Eli Lilly, Jefferies, TD Cowen, Goldman Sachs, Goldman, Roth MKM, , Michelle Fox, Sarah Min, Jesse Pound Organizations: Coyote Logistics, UPS, RXO, Coyote, Nvidia, Carrier, Citi, Ferrari —, UBS, Anheuser, Busch InBev —, IBM
Affirm — The buy now, pay later stock popped 10% after Goldman Sachs assumed coverage of the name at a buy rating. Roth MKM upgraded Cinemark to a buy from a neutral rating, saying that headwinds should soon shift to "very attractive tailwinds." Anheuser-Busch InBev — The brewing company's shares rose around 3% after UBS upgraded the stock to buy from neutral. Carrier Global — The heating and ventilation stock rose 3% on the heels of a Citi upgrade to buy from neutral. Energy stocks – A slate of energy names rose as crude oil futures jumped to start the last week of June.
Persons: Eli Lilly, tirzepatide, Eli Lilly's, ATTR, Goldman Sachs, Will Nance, Roth MKM, headwinds, Morgan Stanley, Cowen, Ferrari, Brent, SLB, Baker Hughes, — CNBC's Lisa Han, Jesse Pound, Alex Harring, Sean Conlon, Samantha Subin Organizations: Systems, Food and Drug Administration, Coyote Logistics, UPS, Alnylam Pharmaceuticals, Nvidia, Microsoft, Anheuser, Busch InBev, UBS, Busch, IBM, Ryder, Carrier, Citi, Ferrari —, Energy, West Texas Intermediate, APA Locations: U.S
The launch of Jain Global has dominated industry gossip since its founder left Millennium Management, where the 53-year-old Jain was Izzy Englander's right-hand man, in late 2022. And more specifically, scalability without incremental cost," Jonathan Barton, the firm's chief operating officer, said in an interview with BI. Starting from a clean sheet of paper gave Jain Global certain advantages, said one senior banker who worked closely with the new manager as it built out its teams and systems. 3Forge, a specialty-software provider, worked with Jain Global to build the interface that connects all the systems for PMs, the risk team, and management. In five to 10 years, Jain Global hopes it won't need a sprawling business-development function because a strong talent pipeline will have developed inside the firm.
Persons: , Bobby Jain's, Jain, Izzy Englander's, It's, Morgan Stanley, Griffin's, Steve Cohen's Point72, Michael Gelband's, redemptions, Jonathan Barton, Barton, — Barton, it's, Bobby, Paul Enright, Sam Kellie, Smith, David Hochberg, Enright, Hochberg, there's, Jon Caplis, Caplis, they're Organizations: Service, Jain Global, Millennium Management, Business, UBS, Citadel, Bank of America, Meru Capital Group, Jain, Credit Suisse, Viking Global, Macquarie, Investors, Bloomberg Locations: Singapore, Balyasny, New York, Houston, London, Hong Kong, York, Lane, Meru, Asia, PivotalPath
The S&P 500 alone has generated an average return of 7% during presidential election years since 1952, according to LPL Financial. If you limit that to election years in which the incumbent president is running for reelection, the average jumps to 12.2%. Yes, but: Market volatility in an election year tends to pick up in October and there are many months left in this cycle with potential surprises to come. “An autumn pullback fits well time wise with potential downside earnings revisions, make-or-break decision time for the Fed, and election uncertainty. The first round of the French election will be held on June 30, with a second round on July 7.
Persons: Goldman Sachs —, Ed Clissold, Ned Davis, they’re, It’s, Goldman Sachs ’ Scott Rubner, , , Mark Hackett, Scott Chronert, Goldman Sachs, Joe Biden, Donald Trump, Jim Reid, There’s, Emmanuel Macron, Katie Nixon, Chris Isidore ., they’ve, Samantha Murphy Kelly, ChatGPT —, Siri —, OpenAI, Siri, ChatGPT, hasn’t, Organizations: London CNN — Traders, Investors, White, Ned, Ned Davis Research, Nasdaq, Citigroup, Goldman, Barclays, Deutsche Bank, UBS, Deutsche, Fed, United, Labour Party, Renaissance, Northern Trust Wealth Management, Alaska Airlines, Alaska —, Southwest —, Southwest, Railway Labor, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, Wall, IDC Locations: United States, France, , Alaska, China
The growing electricity demand from corporate America, particularly Big Tech, and the retirement of coal plants across the U.S. are creating a major opportunity for renewable energy, according to UBS. UBS sees solar and wind supplying 40% and 30% of the power demand, respectively, while natural gas will meet the remaining 30%. At the same time, "there is a straight line of direct incremental demand and financial support for renewables as corporate electricity demand increases through their 100% clean energy or 100% renewable commitments," the analysts said. Overall, solar will grow to 12.5% of electricity generation by 2030, up from less than 6% in 2023, according to UBS estimates. "There is likely a substantial market opportunity to provide reliable electricity generation and direct infrastructure for data centers," the analysts said.
Persons: Jon Windham Organizations: Big Tech, UBS, U.S, Microsoft, Google, Amazon, Companies, Nike, Pepsi, Starbucks, Meta, Energy, Technologies Locations: America, U.S
Morgan Stanley initiates Ryder System as overweight Morgan Stanley said the transformation is underway for the transport company. " Morgan Stanley names UnitedHealth a top pick Morgan Stanley said the health-care company is compelling. "With this note, we are adjusting our Top Pick to UNH (from CI), where its relative share price performance presents an opportunity in our view." Morgan Stanley initiates Elevance Health as overweight Morgan Stanley called out Elevance Health's earnings power as it initiated coverage of the stock. " Melius reiterates Apple as buy Melius raised its price target on Apple to $260 per share from $227.
Persons: Jefferies, kingmaker, CARR, Goldman Sachs, Goldman, Morgan Stanley, Ryder, UnitedHealth, Bernstein, Tesla, TD Cowen, TD, it's, Melius, BEV, Eli Lilly, LLY Organizations: Nvidia, Citi, Micron, Carrier, UBS, Anheuser, Busch InBev, IBM, Bank of America, Broadcom, VMWare, CI, Elevance Health, Cherniere Energy, Cheniere Energy Inc, Ally, Barclays, Apple, " Bank of America, Alexa, Reuters, China, JPMorgan, Royal Locations: LLY, Royal Caribbean
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThere are two major similarities between today's stock market environment and the dot-com bubble era, says RIA Advisors CIO Lance Roberts. RIA Advisors/AccentureAnd two, there is a small group of firms leading the overall stock market rally, just as it was in 2000. He's a bit more optimistic this time around because of the robust earnings performance fueling the few stocks leading the market. Advertisement"We are again experiencing another of these speculative 'booms,' as anything related to artificial intelligence grips investors' imaginations," Roberts said.
Persons: , Lance Roberts, Roberts, Jonathan Golub Organizations: Service, RIA, Business, Accenture, Nvidia, UBS, Investors, Federal Reserve
Big Tech companies are pouring billions of dollars into building data centers to train it. The AI Value ChainAccording to UBS, investors should approach the overall AI industry as three interconnected layers: enabling, intelligence, and application. By understanding the major players in the AI space and investing in the most critical parts of the AI value chain, according to UBS. The bank predicts that the AI landscape will be marked by "vertically integrated" and "monolithic" firms with the scale to reach across the AI value chain. However, its stock hasn't seen the price appreciation that domestic tech companies have, suggesting that there's ample room for valuations to expand.
Persons: Ulrike Hoffmann, UBS's Organizations: Service, Apple, Big Tech, UBS, Business, Nvidia, Dell, Broadcom Locations: China
Here's why Costco has the best customer loyalty
  + stars: | 2024-06-21 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why Costco has the best customer loyaltyMichael Lasser, UBS analyst, joins Money Movers to discuss which retail company has the best customer loyalty, which companies need to improve, and much more.
Persons: Michael Lasser Organizations: Costco, UBS, Movers
Experts say Shein's U.S. IPO is all but dead
  + stars: | 2024-06-21 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com   time to read: +2 min
The Shein logo can be seen on a smartphone, while the Chinese online retailer's website is open on a laptop. China-founded e-commerce company Shein's hopes of going public in the United States are growing slimmer by the day, according to experts, as rising tensions between Beijing and the U.S. roil business and trade. A London IPO could, in theory, be easier than a U.S. offering, according to Bochanis. If Shein's London IPO succeeds, it is unlikely to keep pursuing a U.S. offering, said University of Florida finance professor Jay Ritter, who studies IPOs. It became one of the first prominent Chinese companies to do so in the U.S. even as the Biden administration has increasingly cracked down on Chinese-made electric vehicles.
Persons: Shein's, confidentially, Angelo Bochanis, Bochanis, Jay Ritter, Zeekr, Biden Organizations: U.S, National Retail Federation, CNBC, TJX Companies, UBS, Target, Walmart, Renaissance, Securities and Exchange Commission, London Stock, University of Florida Locations: China, United States, Beijing, U.S, London
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUBS GWM CIO breaks down the potential impact of the U.S. presidential electionMark Haefele of UBS Global Wealth Management says a second Trump presidency will benefit some bank and commodity stocks, but be "less good" for consumer staples and renewables stocks.
Persons: Mark Haefele, Trump Organizations: UBS, U.S, UBS Global Wealth Management
Diversification is key right now: UBS Global Wealth Management
  + stars: | 2024-06-21 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDiversification is key right now: UBS Global Wealth ManagementJin Yee Young, co-head of UBS Global Wealth Management APAC explains the shift into developed markets fixed income and the growth of private markets investment in Asia.
Persons: UBS Global Wealth Management Jin Yee Young, UBS Global Wealth Management APAC Organizations: UBS Global Wealth Management Locations: Asia
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