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Just because CNBC's Jim Cramer thinks investors should own Nvidia — not trade it — doesn't mean he thinks they should buy it right now. On Tuesday, he said he still believes in the company but explained why the stock's rally may not continue. "While Nvidia's a great company with a great stock, in the end, it's still a stock. Cramer reaffirmed his belief that Nvidia, which hit a new high Tuesday, "pretty much owns AI, and AI pretty much owns the future," saying the company has been focused on developing extremely fast chips for decades. "The buyers haven't repealed the laws of what governs a stock, even if that stock is Nvidia," he said.
Persons: CNBC's Jim Cramer, it's, there's, Cramer, Ben Reitzes, Dan Fitzpatrick, Fitzpatrick Organizations: Nvidia
UBS upgrades Globant to buy from neutral UBS said it sees "demand stabilization" for the IT and software development company. Wedbush upgrades Airbnb to outperform from neutral Wedbush said investors should buy the dip in shares of Airbnb. Morgan Stanley reiterates CrowdStrike as a top pick Morgan Stanley raised its price target on the stock to $422 per share from $372. Morgan Stanley reiterates Microsoft and Meta as overweight Morgan Stanley said in its analysis of large-cap institutional ownership that Microsoft is most under-owned and Meta the most over-owned. " Morgan Stanley reiterates Amazon as overweight Morgan Stanley said the e-commerce giant has a "widening" competitive advantage. "
Persons: Melius, Truist, Mizuho, Hannifin, it's, Futu, Steve Steinour, Zach Wasserman, Huntington, NCLH, Wells, Morgan Stanley, CrowdStrike, Dell, John Donovan, JMP, Guggenheim Organizations: Nvidia, Parker, Mizuho, Argus, UBS, JPMorgan, NASDAQ, 38ppt, " Bank of America, Bank of America, RBC, Netflix, &, Deutsche Bank, Deutsche, Citi, DuPont, Department of Justice, TAM, Guggenheim, Microsoft, Meta, Apple Locations: Asia, Airbnb, ZS, China
Globant's key business fundamentals should give it a leg up over its peers, according to UBS. However, this updated price forecast still implies that Globant could rally 38% from its Friday close. Shares of Globant have slipped 29% year to date, but UBS analyst Leonardo Olmos attributed this underperformance to external factors outside of the company's control. GLOB YTD mountain GLOB YTD chart "Tainted by peers' guides reduction, GLOB is now trading at 15% discount to history. "We estimate the Digital Studios represents 70% of GLOB's sales and it could be a proxy for the relevance of digital transformation to GLOB," Olmos wrote.
Persons: Leonardo Olmos, GLOB, Olmos, Globant, " Olmos Organizations: UBS, Accenture, Digital Studios
Tools of the trade: Salesforce, Wells Fargo and Oracle
  + stars: | 2024-05-28 | 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 EmailTools of the trade: Salesforce, Wells Fargo and OracleEva Ados, ERShares COO, Carter Worth, Worth Charting CEO and David Boole, Baycrest managing director, join 'Power Lunch' to offer the fundamentals, technicals and options for three stocks.
Persons: Oracle Eva Ados, Carter, David Boole, Baycrest Organizations: Oracle, Worth Locations: Wells Fargo, Carter Worth
Stock splits have no impact on the market value of a company, but they are historically bullish, according to Bank of America. These are eight high-priced S&P 500 stocks that could be the next to enact a split. AdvertisementBank of AmericaForward stock splits are ultimately a sign of strength, as the company's rising stock price often reflects the growing profits of the underlying business. "Splits do not affect company fundamentals but can increase liquidity by making shares more accessible," Bank of America said. Booking HoldingsMarkets InsiderTicker: BKNGStock price: $3,795.04Market value: $128.7 billion1.
Persons: Organizations: Nvidia, Bank of America, Service, Walmart, Bank of America Forward, Isaac Markets, Broadcom, Booking Holdings Locations: Chipotle, Mettler
The time may have finally come for small-cap stocks to have their moment in the sun, according to Jefferies. "We have seen some improvement in absolute and relative performance and think we could have hit an inflection point," wrote Jefferies strategist Steven DeSanctis. Still, he said there's one caveat: small-cap earnings look weak on an absolute basis. "As the year rolls along, small-cap earnings are set to broaden, accelerate, and play a game of catch-up with large." Jefferies' price target of $140 is nearly 32% higher than where shares of ArcBest closed on Thursday afternoon.
Persons: Jefferies, Steven DeSanctis, Schrodinger Organizations: Nvidia, Boston Beer, Boston, Software, pharma, . Trucking Locations: ArcBest
New York CNN —Buying or selling a stock is about to get a lot snappier starting next Tuesday. But that doesn’t mean it’ll get smoother, at least right away — and some financial firms are preparing to handle any possible bumpiness. Clearinghouses, which sit between buyers and sellers, collect margins from traders as evidence that they can afford to make the transaction. Baird has had a T+1 committee in place since last summer to ensure such hiccups don’t happen, Lee said. “The existing two-day period to settle trades exposes investors and the industry to unnecessary risk and is ripe for change,” Robinhood CEO Vlad Tenev said in a February 2021 release.
Persons: , That’s, ” Gary Gensler, , Rich Lee, Baird, Lee, Reddit, Vlad Tenev, Max, Gregory Wallace, Brian West, Mike Whitaker, ” “, ” Whitaker, Read, Meta, that’s, Clare Duffy, Patrick Collison, Nat Friedman, Tobi Lütke, Charlie Songhurst, White, OpenAI Organizations: CNN Business, Bell, New York CNN, Securities and Exchange Commission, Employees, GameStop, AMC Entertainment, AMC, Robinhood, Investors, Boeing, FAA, Federal Aviation Administration, Wolfe Research, ABC, Microsoft, Meta Locations: New York, OpenAI
But the new analyses could be warning signs for Trump Media, whose business depends in large part on growing its user base. Truth Social users were down 19.7% year over year, according to Similarweb. Truth Social users on average check the site fewer than two days a week — falling behind apps like Facebook, X, TikTok, Reddit and Pinterest. Truth Social users also clock fewer minutes of engagement on the platform that do the users of other social media networks. "Compared to other social media platforms, Truth Social users are accessing the app much less frequently and are spending much less time on it per session," the firm's CEO, Dr. Paul Carter, told CNBC in an email.
Persons: Dado Ruvic, Donald Trump's, , Similarweb, Trump, Similarweb's, David Carr, Carr, Michael M, Paul Carter, Carter, Donald Trump, Jim Watson Organizations: Reuters, Social, Trump Media, White, Trump, CNBC, Securities and Exchange Commission, SEC, Nasdaq, Trump Media & Technology Group, Santiago, Getty, Truth, Facebook, Republican, AFP Locations: U.S, Similarweb, New York City, South Bronx
Hedge funds added more exposure to financial and tech names in the last quarter, according to Morgan Stanley. Castagno highlighted that in the last quarter, hedge funds seemed to shift their portfolio allocations toward the information technology and financials sectors, moving away from health care. However, hedge funds still remain most overweight stocks within the health care, consumer discretionary and industrials industries. Hedge funds have recently increased their ownership shares in retailer Bath & Body Works by 2.5%. Wolfe Research upgraded shares of Alaska Air Group to outperform from peer perform last Friday.
Persons: Morgan Stanley, Todd Castagno, Castagno, A.J, — CNBC's Michael Bloom Organizations: Securities and Exchange, Universal Health Services, UBS, Body, JPMorgan, Airline, Alaska Air Group, Wolfe Research, TPG, DXC Technology, Avis Budget Group Locations: Rice, Bath, Coast
Carlyle: Excited about the private equity opportunities in India
  + stars: | 2024-05-23 | 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 EmailCarlyle: Excited about the private equity opportunities in IndiaAmit Jain of Carlyle India Advisors says political stability and strong market fundamentals are making India's private equity market look attractive.
Persons: Carlyle, India Amit Jain Organizations: Carlyle India Advisors Locations: India
Owning overcrowded trades that are most popular among hedge funds could be risky for individual investors in the event of a herd-like stampede by systematic traders, according to Morgan Stanley, which looked at stocks to avoid. Despite their popularity and performance, none of the megacap tech stocks made the list of overcrowded stocks. That's because their enormous share count makes hedge funds' ownership less significant. Morgan Stanley found that hedge funds were most overweight in consumer discretionary, industrial and health care stocks last quarter, while they were most bearish on technology and consumer staples companies. Janus Henderson , The New York Times , Planet Fitness and Wayfair were also on the list of crowded trades.
Persons: Morgan Stanley, Russell, Howard Hughes, Janus Henderson, — CNBC's Michael Bloom Organizations: Avis Budget Group, Howard Hughes Holdings, The New York Times Locations: The
What Nvidia's stock split means for retail investors
  + stars: | 2024-05-23 | by ( Samantha Subin | ) www.cnbc.com   time to read: +2 min
Nvidia's upcoming stock split could propel the chipmaker higher over the short run and boost already enthusiastic investor sentiment, according to Wall Street. Nvidia's results prompted many Wall Street firms to boost their price targets on the stock as demand continues. While a split may improve accessibility by lowering the share price, it doesn't alter the value or fundamentals of the business. Citi's Atif Malik called the split a "positive surprise," while Susquehanna's Christopher Rolland said it "invigorates the retail crowd." "The 10:1 stock split likely adds short-term momentum to this AI bellwether," said Needham's Quinn Bolton.
Persons: Baruah, Citi's Atif Malik, Susquehanna's Christopher Rolland, Needham's Quinn Bolton Organizations: Semiconductor, Walmart, Lam Research, Nvidia
While known for sizeable pullbacks in the past, the upward trajectory of Nvidia's stock last year and this year cannot be denied. We've been in Nvidia stock since 2019, years before the AI revolution was sparked by ChatGPT's viral moment shortly after its late 2022 launch. Through its Nvidia AI Enterprise service, Nvidia is in the process of building out a potentially massive software business. With that, let's think about Nvidia stock from the perspective of a long-term investor— and that's the key consideration, the investment horizon. At the beginning of the year, Nvidia stock traded at $481 per share on a $20.80 forward earnings estimate or a forward P/E multiple of 23 times.
Persons: We've, Jim, , Jensen Huang, Leonardo da Vinci, Jim —, it's, It's, you've, Nvidia's, Colette Kress, Tesla, Kress, Jim Cramer's, Jim Cramer, Josh Edelson Organizations: Nvidia, Club, Apple, Enterprise, Devices, Intel, Investing, GE, NVIDIA, CNBC, SAP Center, Afp, Getty Locations: San Jose , California
Here are Wednesday's biggest calls on Wall Street: Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla but says it's only a matter of time before others automakers begin to take advantage of AI also. Morgan Stanley reiterates Meta as overweight Morgan Stanley said that, as users adopt the company's Reels product it becomes a "monetization opportunity." Morgan Stanley reiterates Dell as a top pick Morgan Stanley said Dell remains a favorite name at the firm. Morgan Stanley reiterates McDonald's as overweight Morgan Stanley said it's standing by the fast-food chain. Morgan Stanley reiterates Ferrari as overweight Morgan Stanley said it's standing by its overweight rating on the automaker.
Persons: Morgan Stanley, Tesla, Piper Sandler, Piper, Meta, Dell, JMP, Oppenheimer, it's, Goldman Sachs, Goldman, Kraft Heinz, McDonald's, Rosenblatt, John Malone, Sportico, Morgan Stanley downgrades, Generac, Jefferies, Needham, Stryker, Ferrari, MSFT Organizations: GM, Ford, Nvidia, Blackwell, ODM, Lenovo, Dell, China Tech Hardware, Costco, " Bank of America, Bank of America, Kraft, Brunswick, UBS, Brunswick Corporation, Atlanta Braves Holdings, Deutsche Bank, Waste Management, Deutsche, Price, Jefferies, Prudential, Lincoln National, Microsoft, Garmin, of America Locations: Coinbase, Shopify
Nvidia announced a 10-for-1 forward stock split in its fiscal first-quarter earnings report on Wednesday. Stock splits do nothing to change the financial fundamentals of a company but they so make each share cheaper, which can have a positive psychological effect on retail investors. Nvidia said the stock split will make ownership "more accessible to employees and investors," the release said. Nvidia shares closed on Wednesday at $949.50. Alphabet , Amazon and Tesla all orchestrated stock splits in 2022.
Persons: Jensen Huang Organizations: Nvidia Corp, Nvidia, Technology Conference Locations: San Jose , California
Crude oil futures fell more than 1% on Tuesday in the absence of major market catalysts to support prices. U.S. crude oil and global benchmark Brent have traded in a $3 range this month since selling off from April highs after traders rolled back geopolitical risk premium as fears of a wider Middle East war eased. Investors are now focusing more on fundamentals but the lack of near-term catalysts will likely keep prices rangebound for the time being, Helima Croft, head of commodity strategy at RBC Capital Markets, told clients in a Tuesday note. Here are today's energy prices:Production cuts by a coalition of OPEC+ members have provided a floor for oil prices after last month's selloff. The cartel will meet next weekend to review its production policy.
Persons: Helima Croft Organizations: Brent, Investors, RBC Capital Markets, OPEC
Baby formula suits : Activist investor group Eminence Capital has built a stake of at least 0.5% in Reckitt Benckiser, according to the Financial Times. Eminence's reported position follows Reckitt's selloff to an all-time low in March on concerns about baby formula litigation. Abbott makes a competing baby formula and faces similar lawsuits, alleging the companies failed to warn about the risks of their products. ABT YTD mountain Abbott YTD Abbott's next baby formula event is a state trial in St. Louis that begins in July. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Eminence's, Reckitt's, Abbott, we've, Reckitt, ABT, YTD Abbott's, Louis, we're, We're, Jim Cramer's, Jim Organizations: CNBC, Nvidia, Blackwell, Eminence, Financial Times, Abbott Labs, TJX, Target, Devices, Jim Cramer's Charitable Locations: Reckitt Benckiser, Illinois, Reckitt, St, Maxx, Williams, Sonoma
The firm notes that Vertiv, which makes power and cooling equipment for data centers, has beaten Nvidia by 315% over the past year. Much of that stems from the advanced chips that power AI on — such as the ones Nvidia produces — requiring significantly more electricity to operate. "Power used by AI applications is expected to grow at a 25-33% CAGR over the next few years." AdvertisementAs Nvidia gears up for its earnings season on Wednesday, expectations remain strong, Bank of America said. Previously, Goldman Sachs had similarly outlined broadening AI investment, characterizing Nvidia as the first of four phases.
Persons: , They're, Nvidia's, Vertiv, outpacing, BofA, Bank of America BofA, Steve Eisman, it's, NVDA, Goldman Sachs Organizations: Bank of America, Nvidia, Service, Vertiv
There's so much personal finance advice out there, but as I settle into adult life, I rely more and more on the fundamentals my parents taught me. They taught me to save what I earnedIt's undisputed that saving money is smart, and it's true that you can find this particular financial advice anywhere. But this is another one of the key money lessons my baby boomer parents taught me. Being economical often gets a bad rap, but I think it's one of the most valuable money habits my baby boomer parents instilled in me, especially given the cost of living today. Now that I'm older and have more expenses, my experience and relationship with money influenced by my baby boomer parents have hopefully set me up for success.
Persons: I've, Organizations: Service
Senate Democrats (including independents who caucus with them) hold 23 seats up for election this year; Republicans hold 11. Positive signs for DemocratsBut is the race for the Senate really over if Republicans just win West Virginia? Democratic Senate candidates seem to be at least tied or ahead in Arizona, Michigan, Montana, Nevada, Ohio, Pennsylvania and Wisconsin. Of course, Democratic Senate candidates outrunning the top of the ticket is nothing new. For Democrats to have any chance of holding the Senate, Republicans would have to lose all these Senate races.
Persons: we’ve, Donald Trump, Trump, Democratic Sen, Joe Manchin, Simone Pathe, it’s, we’re, Joe Biden, Biden, Sens, Bob Casey of Pennsylvania, Tammy Baldwin, Kari Lake, Lake, Nevada’s, Missouri’s Todd Akin, Mehmet Oz, Mark Kelly, Larry Hogan, I’m, Organizations: CNN, White, Senate, Republicans, Democratic, Republican, Republican Senate, Democrats, Florida, GOP, West Virginia, New York Times, Siena College, Biden Locations: nonjudicial, West Virginia, Texas, West, Arizona , Michigan, Montana , Nevada , Ohio, Pennsylvania, Wisconsin, Arizona, Nevada , Pennsylvania, Senate, Maine, Arizona , Nevada , Montana and Ohio, Montana, Ohio, Michigan , Pennsylvania, Maryland –
GameStop's meme-stock rally officially ended on Friday after the company announced plans to sell 45 million shares. GameStop said the extreme rally in its stock does "not appear to be based on the underlying fundamentals of our business." This week's meme-stock rally that sent shares of GameStop surging as much 271% is done. The rally in GameStop shares came to its sputtering conclusion on Friday when the struggling video game retailer announced plans to sell 45 million shares in an at-the-market offering, which could result in massive dilution for existing shareholders. AdvertisementThis type of share sale allows GameStop to, at its discretion, sell shares directly in the open market to willing buyers to raise capital, with an upside limit of 45 million shares.
Persons: Organizations: GameStop, Service, AMC Entertainment, SEC
Meme stocks are in the spotlight this week. These so-called meme stocks, which gained popularity through social media platforms like Reddit and X (formerly known as Twitter), have attracted retail investors looking to make a quick profit. Future of meme stocks One analyst, who has previously been bearish on GameStop and tech stocks, said that while fundamentals for the stock have improved, GameStop is still in the "danger zone." 'Danger zone' stocks Here are some other stocks Trainer says is in his "danger zone" list, which also includes his "zombie stocks." He cited its "continuing deterioration" of its fundamentals, including its "unsustainable" expenses and steady cash burn.
Persons: David, Trainer, DoorDash's, Yun Li Organizations: GameStop, AMC, CNBC Pro, AMC Entertainment Holdings, Tilray
Here are Friday's biggest calls on Wall Street: Bank of America reiterates Nvidia as buy Bank of America said top pick Nvidia remains "compelling" heading into earnings next week. Bank of America reiterates Marvell as buy Bank of America said it's sticking with its buy rating heading into earnings later this month. " Citi reiterates Walmart as a top pick Citi said the stock remains a top pick following earnings. Chevron Corp. (CVX): Reiterate Constructive View on Inflecting FCF Generation and Relative Valuation; Buy with 13% Total Return." "Near-term caution is offset by our increasingly bullish medium-term outlook, where CRM is well positioned for GenAI & valuation remains undemanding."
Persons: Marvell, Roth, Ree, Roth MKM, it's, REE, Wells, Oppenheimer, Reddit, Goldman Sachs, Tesla, Goldman, BTIG, Baird, Jefferies, Morgan Stanley, Baidu, Wolfe, UAL, Cantor Fitzgerald, Cantor, Price, Stifel, Salesforce Organizations: Bank of America, Nvidia, Ree Automotive, EV, Netflix, Citi, OpenAI, Google, Walmart, Darden, Jefferies, DuPont, Macquarie, Stock, underperform Bank of America, Chevron, Chevron Corp, JPMorgan, Body, United Airlines, Price Target, Health, Base Locations: Thu, Olive, China, United, Underperform
The S & P 500 on Wednesday closed above 5,300 for the first time ever. The last time the S & P 500 Short Range Oscillator was this overbought was back in December. The upswing picked up after the S & P 500's most recent bottom on April 19 and pushed to this week's records. .SPX 1Y mountain S & P 500 - 1 year There is no telling whether the current overbought market will follow a similar pattern. Perhaps more telling, four of the bottom six sectors saw earnings estimates revised higher since the end of the first quarter.
Persons: Dow, Morgan Stanley, Stocks, it's, Rather, Jim Cramer's, Jim Cramer, Jim, Victor J Organizations: Federal Reserve, Palo Alto Networks, CNBC, Visitors, New York Stock Exchange, Blue, Bloomberg, Getty
Beaten-down clean energy stocks have rallied this week. The iShares Global Clean Energy exchange-traded fund, which tracks sectors from renewable electricity to semiconductors to solar energy, has gained roughly 3%. Plug Power shares have climbed 33%, Enphase Energy shares have gained 8% and NextEra Energy shares have added 4%. Some investors warn that though the tariffs could continue boosting clean energy stocks, the recent rally isn’t driven by just improving fundamentals. Damaging hacks expose the weak underbelly of America’s health care systemA pair of recent ransomware attacks crippled computer systems at two major American health care firms, disrupting patient care and exposing fundamental weaknesses in the US health care system’s defenses against hackers, reports my colleague Sean Lyngaas.
Persons: New York CNN — It’s, Joe Biden, CNN’s Kayla Tausche, , Steve Sosnick, Roaring Kitty, Keith Gill, Dow, Nicole Goodkind, stoking, Gary Pzegeo, ” Read, Sean Lyngaas, cybersecurity, ” Joshua Corman, Sen, Ron Wyden Organizations: CNN Business, Bell, New York CNN, Clean Energy, Enphase Energy, NextEra Energy, Biden, Federal Reserve, Interactive Brokers, CNN, GameStop, AMC Entertainment, Roaring, Dow Jones Industrial, Nasdaq, Markets, Bureau of Labor Statistics, CIBC Private Wealth, “ Industry, Oregon Democrat Locations: New York, China
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