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☆ JPMorgan says this data security stock is a great pick for the second half with AI tailwinds
▼ + stars: | 2024-06-14 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Varonis Systems is poised to make a comeback in the latter part of 2024 as data security demand picks up, according to JPMorgan. Analyst Brian Essex upgraded the stock to overweight from neutral and set a December 2025 price target of $54, up from $50. Shares have dropped 6.7% this year as data security stocks saw a broader decline, creating a compelling buying opportunity for investors heading into the second half of the year, the analyst wrote in a Friday note. According to Essex, data security demand is rising as ransomware attacks are expected to increase, with a breach likely to happen every two seconds in 2031. "Although elevated levels of demand are driving growing levels of competition across the data security space, we view Varonis as one of the best positioned to capitalize on data security demand with a Best of Breed Data Security platform," the analyst added.

Persons: Brian Essex, Essex, Varonis, FactSet Organizations: JPMorgan, Data Security, 4Q, Cybersecurity Ventures, Companies, Breed Data Locations: Thursday's, Essex

☆ Investors wonder if tech can keep lifting S&P 500 to new records this summer as some cracks emerge
▼ + stars: | 2024-06-14 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Wall Street is wondering whether the tech rally that's pushed the S & P 500 through record after record this year can continue, even as some cracks emerge in the market outlook. .SPX YTD mountain S & P 500 near record highs A peek inside the major indexes also reveals a similar pattern. Information technology is the best-performing sector in the S & P 500 this week, gaining 6.2%. As it is, the S & P 500 is already above 5,400, having advanced more than 13% this year. Winners and losers market David Miller, investment chief at Catalyst Funds, also said the S & P 500 could end 2024 with a 17% or 18% gain.

Persons: Jeff Klingelhofer, it's, Klingelhofer, Brian Nick, Nick, Dave Sekera, Dave Donabedian, Donabedian, David Miller, Miller Organizations: Nasdaq, Nvidia, Dow Jones, Apple, Thornburg Investment Management, CNBC, Macro, Federal Reserve, Morningstar, CIBC Private Wealth, Catalyst Funds, Microsoft, Google, Visa, MasterCard, American Airlines, Delta Air Lines, Novo Nordisk, TransDigm, Index, Retail, Manufacturing, Housing, Philadelphia Fed, Kroger, Darden, PMI Locations: U.S, NAHB

☆ Here are Friday's biggest analyst calls: Nvidia, Tesla, Hasbro, Sunrun, Amazon, Costco, Spotify, Pinterest, Apple & more
▼ + stars: | 2024-06-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Piper Sandler reiterates Pinterest as a top pick Piper said it's sticking with its overweight rating on the stock. JPMorgan reiterates Amazon as overweight JPMorgan said the e-commerce giant remains a top pick at the firm. The firm also says it's sticking with its outperform rating on Apple. "We are reiterating our Buy rating and raising our price target on shares of Costco from $890 to $940." Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla .

Persons: Bernstein, it's, D.A, Davidson, KBW, Tesla, underperform Bernstein, Musk, Piper Sandler, Pinterest, Piper, Evercore, Morgan Stanley, Sunrun, Guggenheim, Macquarie, Roblox, TD Cowen, Cowen, Michael Colglazier, Morgan Stanley downgrades Twilio, JPMorgan, GenAI, Wolfe, Elon Organizations: Bank of America, Elon, Spotify, UBS, TPC, Galactic, America, JPMorgan, Adobe, " Bank of America, Hasbro, of America, Monopoly, Apple, Baidu, Apple Intelligence, Costco, Nvidia, Tesla Locations: China

☆ CNBC's Inside India newsletter: IPO boom looks to break new records
▼ + stars: | 2024-06-13 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +5 min

The spotlight has seemingly shifted in the past year toward companies going to market, hoping to ride on the coattails of India's growth story. Growing foreign listingsThe allure of India's stock markets has trickled to companies beyond its shores — with foreign entities eyeing a share of its growth. Such listings add strength to India's markets, says M&G Investment's Asian Equities Portfolio Manager Vikas Pershad. The optimism on India's IPO boom is sometimes marred by concerns over elevated valuations of its stock market — and whether it is headed toward a bubble. "When we look at India, we see continued economic and earnings per share growth and higher levels of profitability," Dorson from Global X told CNBC's Inside India.

Persons: Swiggy, Debarchan Chatterjee, Neil Bahal, Dhruba Jyoti Sengupta, Ola, PhonePe, Ola Electric, Sengupta, Vikas Pershad, Malcolm Dorson, CNBC's Organizations: Getty, Reliance Industries, Adani Enterprises, Mankind Pharma, Negen, Securities, Exchange Board, Wrise Private, Aakash Educational Services, Aakash Educational, Walmart, United Arab, Hyundai, Insurance Corporation of India, Maruti Suzuki, Hindustan Unilever, Siemens, ABB India, Global Locations: Kolkata, India, SEBI, United Arab Emirates, Sri Lanka, Hyundai India, India's, Maruti Suzuki India, Hindustan

☆ Fintech has hit a bottom after plunge in valuations and squeeze on funding, execs and VCs say
▼ + stars: | 2024-06-13 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

Executives and investors at the Money20/20 event in Amsterdam last week told CNBC that valuations have corrected from unsustainable highs from the industry's heyday in 2020 and 2021. Iana Dimitrova, CEO of embedded finance startup OpenPayd, told CNBC in an interview at the firm's booth that the market has "recalibrated." "Value is now ascribed to businesses that manage to prove there is a solid use case, solid business model," Dimitrova told CNBC. In 2021, global fintech funding reached an all-time peak of $238.9 billion, according to KPMG. Nanu added that the trend mimics the "craziness" fintech saw in terms of frothy valuations in 2020 and 2021.

Persons: Long, Dimitrova, Horacio Villalobos, Revolut, Prajit Nanu, fintech, Nanu, OpenPayd's Dimitrova, OpenPayd, Crypto, Andrea Pirlo, Fintech execs, they're, James Black, IVP, We've, Black, Charles McManus, Chris Ratcliffe Organizations: Bloomberg, Getty, AMSTERDAM, CNBC, RAI, KPMG, Companies, U.S ., ClearBank, Global Summit Locations: Amsterdam, Lisbon, Portugal, fintech, Italian, stablecoins

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Skechers, Tesla, GameStop, Birkenstock, Valvoline & more
▼ + stars: | 2024-06-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley upgrades Ciena to overweight from equal weight Morgan Stanley sees "upside potential" for the networking company. Morgan Stanley downgrades Pure Storage to equal weight from overweight Morgan Stanley downgraded the stock mainly on valuation. Goldman Sachs downgrades Birkenstock to neutral from buy Goldman downgraded Birkenstock mainly on valuation. Wells Fargo initiates Skechers at overweight Wells said it's bullish on shares of the footwear company. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's possible that Tesla could make a phone.

Persons: Piper Sandler, Piper, it's, Edward Jones, Morgan Stanley, Goldman Sachs, Birkenstock, Goldman, Wells, Wedbush, Needham, HAE, TD Cowen, Cowen, Tesla, Oppenheimer, Salesforce Organizations: Products, Devices, AMD, Paramount, Citi, DAR, Barclays, FI, GameStop, McCormick, Procore Technologies, UBS, Nvidia, hyperscalers, Bank of America, Apple, Fortinet Inc Locations: VVV

☆ Fed in June is a modest disappointment for stocks, but fundamentals remain strong
▼ + stars: | 2024-06-12 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

The Federal Open Market Committee statement, in which the Fed announced that it left interest rates unchanged, was a modest disappointment for stock bulls. On rate cuts, the majority supported only one rate cut, not two, and four were in favor of no rate cuts. It's a disappointment because so much of an additional leg up in the market is centered around this "Fed pivot," where the Fed moves from keeping rates high to cutting rates. So investors did not get the two rate cuts they wanted. But when compared with the main drivers of this market, it's only a modest disappointment.

Persons: It's Organizations: Fed, Netscape

☆ How the economy will change under Trump vs Biden
▼ + stars: | 2024-06-12 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +6 min

And yes, a former president, Donald Trump, has been found guilty on felony charges. The US economy is expected to grow at double the rate of its G7 peers, according to the International Monetary Fund. Trump loved touting new Wall Street records; under Biden, the Dow hit over 40,000 for the first time. The president proposed hiking the corporate tax rate to 28%; billion-dollar companies would also face a higher corporate minimum tax. Some of the stock market and unemployment records that were set under Trump pre-COVID-19 have been surpassed by Biden.

Persons: Roe, Donald Trump, James Carville's, Biden, Joe Biden, Trump, qtN5DBOjAS — Heather Long, Jerome Powell, Powell Organizations: Service, ABC, Business, International Monetary Fund, Dow, Department of Agriculture, Auto, Federal Reserve, Union, Trump, Wall Street, NPR Locations: Russia's, Ukraine

The firm upgraded the ingredients maker to buy from neutral but lowered its price target to $48 per share from $50. "Though these items might not help earnings until 2025, we believe visibility surrounding them could improve in coming months and send the share price higher," he added. Lovallo has a $198 price target for Lennar, reflecting 30.1% in upside. Analyst Raimo Lenschow upgraded the marketing automation stock to overweight from equal weight and upped his price target by $4 to $29. Singlehurst raised her price target to $58 from $54.20, but the new forecast implies nearly 2% downside from Tuesday's close.

Persons: Goldman Sachs, Thomas Palmer, — Brian Evans, Edward Jones, Logan Purk, — Jesse Pound, John Lovallo, Lovallo, — Alex Harring, Oppenheimer, Colin Rusch, Rusch, Alex Bradley, Alex Harring, Raimo Lenschow, Lenschow, Wells, Steven Cahall, Wedbush, Michael Pachter, Pachter, Keith Gill, Piper Sandler, Valvoline Piper Sandler, Peter Keith, Keith, VVV's algo, hasn't, Will Gaertner, Gaertner, Morgan Stanley, Mark Murphy, Keith Weiss, Brent Bracelin, Louise Singlehurst, Singlehurst, Fred Imbert Organizations: CNBC, Analysts, Citi, Diamond Green Diesel, AMD, Devices, Nvidia, UBS, Lennar, KB, Barclays, Wells Fargo, Paramount, GameStop, Products, LSEG, Google, AI, JPMorgan, Oracle Locations: California, Tuesday's, VVV, reaccelerate, ORCL

☆ Here are Tuesday's biggest analyst calls: Apple, Nvidia, Uber, Shopify, Tesla, Ford, Alphabet, Pepsi, Broadcom & more
▼ + stars: | 2024-06-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's sticking with its overweight rating following the company's Worldwide Developers Conference. Baird reiterates Tesla as outperform Baird said it's sticking with its outperform rating heading into Thursday's shareholder meeting. "We are initiating coverage of Bitdeer Technologies Group (BTDR) with an Overweight rating and $13 PT." We argue the former, initiating coverage with an Outperform rating and $50 TP." Barclays reiterates PepsiCo as overweight Barclays said it's sticking with its overweight rating on the stock despite a bumpy macro in the salty snacks category.

Persons: Morgan Stanley, Apple, WWDC, Oppenheimer, Ford, Baird, Tesla, Evercore, Cantor Fitzgerald, Cantor, Piper Sandler, Piper, it's, it's bullish, Bernstein, BTIG, D.A, Davidson, Citi, Uber Organizations: Nets, Apple, JPMorgan downgrades, JPMorgan, Nvidia, Bitdeer, Bitdeer Technologies, Citi, Broadcom, VMware, Barclays, DA, PepsiCo Locations: JPMorgan downgrades Cleveland, Cleveland, Delaware, China

☆ 'Blew my mind': Investor says one key stat shows Nvidia is in it for the long haul
▼ + stars: | 2024-06-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

"The stat that really blew my mind is that the forecast cash flow for Nvidia for 2026 is higher than Microsoft ," Yuri Khodjamirian, CIO at Tema ETFs, told CNBC's Squawk Box Europe, emphasizing the remarkable growth trajectory of Nvidia. This projection is driven by the surging demand for Nvidia's AI chips, as software companies increasingly rely on these powerful processors to fuel their artificial intelligence models. The spending by software giants such as Microsoft , Amazon and Google is propelling the share prices of Nvidia and other semiconductor companies to new heights. NVDA 1Y line Khodjamirian noted that Nvidia is "setting the pace" in the industry with annual product announcements that competitors struggle to match. Ginsberg predicts that Fortune 500 companies will increasingly outsource their AI and algorithmic business to cloud service providers, benefiting companies like Google Cloud and Microsoft Cloud.

Persons: Yuri Khodjamirian, CNBC's, Nvidia's, Microsoft's –, Khodjamirian, Anthony Ginsberg, Ginsberg, Satya Nadella, Sundar Pichai Organizations: Nvidia, Microsoft, Google, Apple, Gins, Tech, CNBC Pro, Amazon Locations: America

☆ Morningstar calls this ETF the ‘gold standard’ for dividend funds. Here’s why
▼ + stars: | 2024-06-10 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

When it comes to dividend funds, the Schwab U.S. Dividend Equity ETF is “the gold standard,” according to Morningstar. The exchange-traded fund seeks to track the total return of the Dow Jones U.S. Dividend 100 Index. Therefore, it is not like its peers that track a broad market index, Jackson pointed out. It also looks at return on equity, dividend yield and the dividend growth rate over the past five years. After the stocks are selected, the index market cap weighs them, with a maximum position around 4%.

Persons: Morningstar, Ryan Jackson, ”, Russell, Jackson, Schwab, D.J, Tierney, Morningstar's Jackson Organizations: Schwab, SEC, Morningstar, Dow Jones U.S, Schwab Asset Management

☆ Goldman Sachs downplays the Nvidia stock split hype, sees little impact
▼ + stars: | 2024-06-10 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

For investors hoping Nvidia 's stock split could translate into a sustainable rally, Goldman Sachs cautioned that the benefits from such an event are usually minimal. Last month, Nvidia announced a 10-for-1 forward stock split in its fiscal first-quarter earnings report. A stock split doesn't change a company's underlying fundamentals or the intrinsic value of its shares. Goldman said companies saw only a 0.2 percentage point increase in retail share of trading activity following stock splits on average. Notably, Nvidia's 2021 stock split led to a 7 percentage point increase in the average share of retail trading.

Persons: Goldman Sachs, Goldman, David Kostin Organizations: Nvidia, Russell, Amazon

☆ Axios' Hope King on Roaring Kitty's GameStop livestream: The fun did not win over the fundamentals
▼ + stars: | 2024-06-10 | 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 EmailAxios' Hope King on Roaring Kitty's GameStop livestream: The fun did not win over the fundamentalsHope King, Axios business reporter, joins 'Squawk Box' to discuss Roaring Kitty's livestream on Friday, why he was unable to rally retail traders to his cause, what to make of GameStop's wild rally, and more.

Persons: Hope Organizations: GameStop

☆ The US office sector will worsen through next year, and the recovery will be slower than after the 2008 crisis, Fitch Ratings says
▼ + stars: | 2024-06-10 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Fitch Ratings revised its office delinquency forecast for 2024 and 2025. Maturing office loan refinanceability will reach no more than 16%-21%. AdvertisementThings are not looking up for the US office sector, with loan performance set to slump even further in 2025, Fitch Ratings said. Driving the fallout are still-elevated interest rates, cooling economic growth, and a stricter lending environment, Fitch wrote on Friday. Fitch anticipates low refinanceability on maturing office loans through this year, with 16%-21% able to refinance.

Persons: Fitch, — Organizations: Service, Fitch, National Association of Realtors

☆ Pro Talks: Jim Lebenthal on why going back to the fundamentals will make you a better investor
▼ + stars: | 2024-06-07 | by ( Jeff Morganteen | Yun Li | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPro Talks: Jim Lebenthal on why going back to the fundamentals will make you a better investorVeteran "Halftime" guest and investor Jim Lebenthal sat down with CNBC's Dominic Chu to discuss how the former nuclear engineer and U.S. Navy officer created a science-minded approach to fundamental analysis and value investing that has led to a decades-long career on Wall Street. Lebenthal goes into detail on how he uses different fundamental analytical tools, walking Pro subscribers through how he finds price-to-earnings growth ratios of stocks like Amazon and Nvidia. He also gives examples of how to incorporate tools from technical analysis to help augment his decision-making process, and fields stock-specific questions from Pro subscribers.

Persons: Jim Lebenthal, CNBC's Dominic Chu, Lebenthal Organizations: Veteran, U.S . Navy, Nvidia

☆ Wall Street is putting its foot down as ‘Roaring Kitty’ sends GameStop soaring again
▼ + stars: | 2024-06-07 | by ( Krystal Hur | ) edition.cnn.com time to read: +9 min

That means that Gill has the right to purchase 12 million shares of GameStop at $20 apiece by a set expiration date. GameStop shares closed Wednesday at $46.55 a share, more than double the price locked in by those options. Gill hasn’t explicitly told anyone to buy GameStop shares or that he thinks it’s headed to the moon. In comparison, shares of GameStop and AMC Entertainment have surged 167% and 99%, respectively, since Gill’s return to social media. Keith Gill, a GameStop investor, also known in social media forums as Roaring Kitty, testifies during a virtual hearing on GameStop in Washington, Feb. 18, 2021.

Persons: Kitty, Keith Gill, Gill, Michael M, Gill hasn’t, it’s, Jay Woods, Woods, hasn’t, Morgan Stanley, Gill isn’t, copycats, Warren Buffett, Berkshire Hathaway, Buffett, Chubb, ”, Bill Galvin, Gill’s, Hanna Ziady, Christine Lagarde —, ” —, Read, OpenAI, Brian Fung, Inflection’s, didn’t, Keith Gill’s Organizations: CNN Business, Bell, New York CNN, GameStop, AMC Entertainment, CNN, Gamestop, New York Stock Exchange, Street, Freedom Capital, Berkshire, The Securities, Exchange Commission, SEC, Financial, Traders, stoke, Wall, Retail, Roaring Kitty YouTube, European Central Bank, US Federal Reserve, Bank of England, ECB, Federal Trade Commission, FTC, Justice Department, Microsoft, Google, Nvidia, of Justice Locations: New York, New York City, Massachusetts, Washington, Europe

☆ The real reason for copper's record-shattering rally, according to one trading firm
▼ + stars: | 2024-06-06 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Copper's rise to more than $11,000 a ton isn't supported by fundamentals, according to trading firm Trafigura. AdvertisementSupply and demand fundamentals haven't been enough to support copper's sky-high rally. Instead, the commodity's massive bull run is thanks to expectations of interest-rate cuts, according to the commodity-trading firm Trafigura. The pattern isn't exclusive to copper only, as other metals have also disassociated from their fundamentals in 2024, Rahim said. According to Bloomberg, Trafigura is an entrenched copper bull, forecasting in 2021 that the industrial metal could eventually hit $15,000 a ton.

Persons: —, Saad Rahim, Rahim, Trafigura, Jeff Currie Organizations: Service, Federal Reserve, Bloomberg

☆ With yields around 7%, fallen angel ETFs have outperformed — but come with risks
▼ + stars: | 2024-06-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Just two exchange-traded funds invest in the space — iShares Fallen Angels USD Bond ETF (FALN) and VanEck Fallen Angel High Yield Bond ETF (ANGL). FALN 1Y mountain iShares Fallen Angels USD Bond ETF one-year performance The iShares Fallen Angels USD Bond ETF and VanEck Fallen Angel High Yield Bond ETF track two different indexes. ANGL seeks to replicate the ICE US Fallen Angel High Yield 10% Constrained Index, while FALN tracks the Bloomberg Barclays U.S. High Yield Fallen Angel 3% Capped Index. In comparison, the Bloomberg U.S. High Yield Index has a 4.64% annualized return over the past 10 years, the firm said. Be aware of risks Fallen angel portfolios are generally much higher quality than their high-yield peers, said Morningstar's Evens.

Persons: —, Zachary Evens, Evens, Jared Woodard, Stephen Laipply, Morningstar's, Laipply, FALN Organizations: Angels, Bond, SEC, Morningstar, Chartered Alternative Investment, Association, Bloomberg Barclays, Bank of, Bank of America, U.S, ICE, Bloomberg Barclays U.S ., Bloomberg U.S, Corporate, Broad Locations: Bank, BlackRock

☆ Nvidia's 10-for-1 stock split takes effect soon. What it means for your investment
▼ + stars: | 2024-06-06 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Stock splits like Nvidia's don't matter, or do they? With its stock hovering around $1,200 a share, Nvidia's 10-for-1 split kicks in after Friday's market close. Clearly, employee compensation in the form of stock options becomes far more manageable. Options The impact of stock splits is clearly felt in the options market – whether that is good or bad, well, it depends on the investor. Bottom line Stock splits don't have any impact on a company's underlying business fundamentals — and, therefore, our determination on whether a company is investable.

Persons: Jim Cramer, Here's, there's, That's, Jim Cramer's, Jim Organizations: Walmart, Nvidia, Chipotle, CNBC Locations: Plenty

☆ Here are Thursday's biggest analyst calls: Apple, Nvidia, Tesla, Netflix, Alphabet, United, JPMorgan, Carvana, Broadcom & more
▼ + stars: | 2024-06-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Goldman Sachs reiterates Nvidia as buy Goldman said it's sticking with its buy rating on the stock. JPMorgan upgrades StoneCo to overweight from neutral JPMorgan said in its upgrade of the fintech solutions company that it has "appealing" potential for earnings growth. Morgan Stanley reiterates JPMorgan as overweight Morgan Stanley said it's even more bullish on the stock after a meeting with company management. " JPMorgan reiterates Alphabet as overweight JPMorgan said the company is on the "offensive in Gen AI." JPMorgan reiterates Broadcom as overweight The firm said it's sticking with its overweight rating on shares of Broadcom.

Persons: Morgan Stanley, Tesla, Oppenheimer, DA Davidson, Davidson, Goldman Sachs, Goldman, Bernstein, FANG, Redburn, it's bullish, osteogenesis, it's, Robinson, JPMorgan, Disney, Evercore, Moffett, Carvana Organizations: Walmart, Apple, company's, Conference, Nvidia, Energy, Midland shaleco, Endeavor Energy Resources, Airlines, United, Citi, eBay, JPMorgan, BMO, UBS, Mizuho, SEE, P Containers, Deutsche Bank, Deutsche, Google, Jefferies, DFS, Disney, Netflix, CTV, Broadcom Locations: China, Midland, Rocklin

☆ India’s economic boom won’t be derailed by its election shock
▼ + stars: | 2024-06-05 | by ( Diksha Madhok | ) edition.cnn.com time to read: +5 min

New Delhi CNN —Narendra Modi has declared victory in India’s election but he’ll need the support of smaller parties to govern, a shock result that could make it harder for him to pass major economic reforms. Experts have highlighted land reform as an example of policies that might now be tougher for Modi to implement. India will need to address those issues if it is to capitalize on the massive rethink underway among companies on supply chains. Despite the surprise electoral setback for Modi’s right-wing, Hindu-nationalist Bharatiya Janata Party (BJP), experts say the world’s fastest growing major economy will continue to live up to its billing. The party’s underperformance led to a plunge on India’s stock market, which had its worst day in four years Tuesday.

Persons: New Delhi CNN — Narendra Modi, ”, Peeyush Mittal, Modi, ” Shilan Shah, underperformance, Aditya Suresh, Shah, Malcolm Dorson, It’s Organizations: New, New Delhi CNN, Matthews Asia, Apple, Foxconn, Bharatiya Janata Party, BJP, Capital Economics, Investors, Macquarie Capital, Unified Locations: New Delhi, United Kingdom, India, China, San Francisco, Beijing, Washington, United States, Western

☆ Goldman Sachs says buy this biotech stock with more than 60% upside
▼ + stars: | 2024-06-05 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

It's time for investors to buy the dip on Jazz Pharmaceuticals , according to Goldman Sachs. The investment bank initiated coverage of the pharmaceuticals stock with a buy rating, setting a 12-month price target of $169. Jazz Pharmaceuticals has slipped 15% this year. Indeed, investors have grown concerned over Jazz's potential loss of exclusivity and rising competition regarding oxybates, which reduces daytime sleepiness. An additional catalyst comes in the form of Vision 2025, Jazz's strategic initiative launched in January 2022 to target $5 billion in revenue from 2025.

Persons: Goldman Sachs, Andrea Tan, Tan Organizations: Jazz Pharmaceuticals

☆ OPEC+ decision to increase oil supply is a 'bearish surprise' for the market, Goldman says
▼ + stars: | 2024-06-04 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

The detailed plan laid out by OPEC+ over the weekend to increase oil production delivered a "bearish surprise" to a market in which prices were already under downward pressure, according to Goldman Sachs. OPEC+ plan difficult to reverse The OPEC+ members said the production increases are subject to market conditions and could be reversed. Struyven described OPEC's forecast as "very bullish," with Goldman forecasting demand growth of 1.5 million bpd in 2024. Market could deteriorate in 2025 The oil market will remain in balance or in a slight deficit for the time being, according to Ryan McKay, senior commodity strategist at TD Securities. Yet those cuts have failed to limit shale oil production in the U.S., Lipow said.

Persons: Goldman Sachs, Brent, WTI, Daan Struyven, Bob Yawger, Yawger, Helima Croft, Goldman's Struyven, Andrew Lipow, Struyven, Lipow, Ryan McKay, McKay, Daan Organizations: West Texas Intermediate, Goldman, OPEC, Mizuho Securities, CNBC, RBC Capital Markets, Lipow Oil Associates, TD Securities, JPMorgan Locations: OPEC, Saudi Arabia, Russia, U.S, Brazil, Guyana, Norway, Senegal, Persian, Arabian

☆ Nvidia could be set for a 30% correction as it faces 3 major headwinds, including waning demand and competition, says a senior investment researcher
▼ + stars: | 2024-06-04 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

"The company made a massive switch in its consumer mix," said Sandeep Rao, a senior researcher at Leverage Shares, an investment management company. As for competition, even if Nvidia's contenders appear weak, more entrants will grab market share. Beth Kindig, the CEO and lead tech analyst for the I/O Fund, estimates that AMD's market share could reach 20%. Nvidia and AMD have similar production costs since neither makes their GPUs but uses the same supplier, Taiwan Semiconductor (TSMC). "So AMD is a little bit behind in terms of performance," Rao said.

Persons: Sandeep Rao, corporates, Rao, Nvidia's, Blackwell, Rubin, AMD'sRadeon, Beth Kindig, Nvidia's Blackwell Organizations: Service, Apple, Microsoft, Business, Nvidia, Semiconductor, Nvidia Investors, AMD, Taiwan Semiconductor, Intel, Baidu Locations: China, India

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