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Here are Monday's biggest calls on Wall Street: Goldman Sachs adds Nvidia to the conviction buy list Goldman said the stock is well positioned to benefit for AI. UBS initiates Sunnova as buy UBS said the solar company is best positioned to take share. Morgan Stanley upgrades U.S. Steel to overweight from equal weight Morgan Stanley said in its upgrade of the steel stock that the transformation continues. UBS reiterates Amazon as buy UBS raised its price target on Amazon to $180 per share from $175 and says it's bullish on ads in Prime video content. Morgan Stanley reiterates TJX Companies as overweight Morgan Stanley said it's sticking with its overweight rating after a meeting with company management.
Persons: Goldman Sachs, Goldman, bullish, Evercore, RIVN, Gordon Haskett, Piper Sandler, Piper, Jefferies, Truist, Wells, ROY, SolarEdge, Morgan Stanley, Davidson, CLX, it's Organizations: Nvidia, UFC, WWE, UBS, NOVA, Susquehanna, FedEx, Meta Connect, Microsoft, Barclays, JPMorgan, Apple, Steel, Bank of America, NSC, Amazon, TJX Companies Locations: PODD, GLP, 3Q23, 2Q23, 1Q23, 4Q23, Europe, Bank of America downgrades Norfolk Southern
Evercore upgrades Invitation Homes: Here's what you need to know
  + stars: | 2023-10-02 | 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 EmailEvercore upgrades Invitation Homes: Here's what you need to knowSteve Sakwa, Evercore ISI real estate analyst, joins 'The Exchange' to discuss the rationale behind his IVNH call, the case for investors to hedge losses in single-family rental REITs, and the relationship between treasury yields and REIT multiples.
Persons: Steve Sakwa
Electric vehicle maker Rivian Automotive could be the "next Tesla," according to Evercore ISI. He hiked his price target by $5 to $35, which implies shares could jump about 44.2% over the next 12 months. "We believe outside of Tesla & BYD, Rivian is the only OEM showing increased evidence of meeting all 3 criteria," McNally said. He noted that Rivian has executed on its cost and delivery targets, de-risking its path to ending the following year with more than 10% in gross margin. Rivian previously reported a loss for the second quarter that was narrower than expected.
Persons: Chris McNally, RIVN, McNally, Tesla, Rivian, — CNBC's Michael Bloom Organizations: Rivian, ISI, Tesla
Sphere Entertainment — The stock jumped more than 7% after the entertainment and media company opened its Sphere venue in Las Vegas with a show from U2 on Friday night. Insulet — Shares gained 3.4% in premarket trading. Sunnova Energy International — UBS initiated coverage of the solar company with a buy rating, sending shares up 1.5% in premarket trading. Clorox — The consumer products company rose 3.3% in premarket trading after D.A. AMC Entertainment — Shares of the entertainment company moved up 2% before the bell after it announced that Renaissance: A Film by Beyoncé, would be distributed in the U.S. in December.
Persons: Jefferies, Sunnova, Clorox, Davidson, Beyoncé, Goldman Sachs, Chubb —, — CNBC's Michelle Fox, Lisa Han, Jesse Pound Organizations: ISI, Rivian Automotive, Sunnova Energy, — UBS, AMC, SolarEdge Technologies, Barclays, Nvidia, FedEx, Susquehanna, JPMorgan, Chubb Limited Locations: Las Vegas , Nevada, United States, Las Vegas, U.S
Interest rates keep climbing, but that's not stopping Wall Street analysts from finding a slew of stocks to buy. CNBC Pro combed through top Wall Street research to find stocks that are beneficiaries of high interest rates. HealthEquity "We view HQY as an attractive investment in a higher interest rate environment that can function as a portfolio diversifier," according to Baird analyst Mark Marcon. The firm said as middle market businesses face rising interest rates, Bunge can take advantage. Toll Brothers High interest rates are no problem for the homebuilder, Raymond James analyst Buck Horne said in a recent note.
Persons: Bunge, Baird, Mark Marcon, Marcon, Goldman Sachs, Adam Samuelson, Samuelson, Raymond James, Buck Horne, Horne, homebuilders, TOL, HealthEquity, Morgan Stanley Organizations: CNBC, Bank of America, Toll, HealthEquity, Costco, Evercore ISI, CMA, Catering Locations: HealthEquity, homebuilders, homebuilding
It may seem like an innocuous date, but according to Evercore managing director Julian Emanuel, on that day everything changed. But which AI companies are strong picks? According to a recent report by FactSet, the word "AI" was used in more earnings calls last quarter than ever before. "It also includes Consumer companies, with below economy wide average Generative AI exposure (around 28% vs. 32%) yet who are Adapting Generative AI to improve the client experience and build (repeat) loyalty through superior service." Along with each company is its ticker, sector, market capitalization, estimated AI exposure, and Evercore analyst rating where applicable.
Persons: Julian Emanuel, Nvidia's, FactSet, Evercore's Emanuel, Ed Hyman's, Emanuel, Evercore, Russell Organizations: Nvidia, Financial, Consumer
How does a government shutdown affect the stock market? As far as directly affecting the stock market, however, it would be unusual for a government shutdown to be deeply detrimental. According to Evercore senior managing director Julian Emanuel, "the history of government shutdowns has been largely irrelevant for the stock market. It didn't in 1954 and it didn't in 2020, two 'tight government' years," Emanuel wrote. "But when stocks play politics like they are now and will be for another 13+ months, it does mean more volatility."
Persons: Goldman Sachs, Evercore, Jerome Powell, Julian Emanuel, shutdowns, Emanuel Organizations: Capitol, Wall, Federal Reserve, Fed, Representatives, White, Nvidia, Meta, Vertiv Holdings
Micron shares fall as demand recovery 'off to slow start'
  + stars: | 2023-09-28 | by ( ) www.reuters.com   time to read: +2 min
Memory chip parts of U.S. memory chip maker MicronTechnology are pictured at their booth at an industrial fair in Frankfurt, Germany, July 14, 2015. "The recovery path is off to a slow start," analysts at Evercore ISI said in a note. Micron is also working to become a supplier to AI chip giant Nvidia (NVDA.O), it said on Wednesday. The company forecast adjusted loss per share of $1.07 for the current quarter, steeper than analysts' estimates for a 95 cents-per-share loss. Those losses have largely been recouped, with its shares rising about 36% in 2023 as investors hoped for a recovery.
Persons: Kai Pfaffenbach, Micron's, Chavi Mehta, Yuvraj Malik, Devika Organizations: REUTERS, Micron, Evercore, Nvidia, Citigroup, LSEG, Thomson Locations: Frankfurt, Germany, Bengaluru
Citi reiterates Sunrun as buy Citi said it's bullish heading into Sunrun earnings later this quarter. We believe RUN has higher inventory than its peers and will take longer to utilize the higher priced inventory." Bank of America reiterates Meta as buy Bank of America said it's standing by its buy rating on Meta shares after the company's Meta Connect event on Wednesday. Needham reiterates Amazon as buy Needham said investors should buy any dip in shares of the e-commerce giant. Goldman Sachs reiterates Micron as buy Goldman said it's standing by its buy rating on shares Micron after its earnings report on Wednesday.
Persons: BTIG, Evercore, Teradata, Sunrun, it's, Ray Ban Smart, Needham, Wolfe, Bernstein, TSCO, Davidson's, Apple, Goldman Sachs, Goldman, Wendy's Organizations: Citi, UBS, Bank of America, Meta, Boeing, Davidson, Tractor Supply, JPMorgan, Huntington Ingalls Industries, Defense, Microsoft, Apple, Services, Digital Investment Management, Deutsche Bank, General Electric, Deutsche, GE, Emerson Electric Deutsche, Micron Locations: financials
Check out the companies making headlines in premarket trading. Sirius XM — Shares of the media company fell roughly 2% in premarket trading. A day earlier, Liberty Media proposed combining the Sirius XM tracking stock with the radio company. Levi Strauss — The apparel maker advanced 1.3% in premarket trading after TD Cowen initiated coverage of the stock at an outperform rating. Mattel — Shares of the toymaker gained 2.4% in premarket trading Wednesday after Morgan Stanley initiated Mattel with an overweight rating, calling it a top pick.
Persons: Levi Strauss, TD Cowen, Levi's, ChargePoint, XPO, Jonathan Chappell, Joe Biden, Morgan Stanley, Alex Harring, Jesse Pound, Samantha Subin, Pia Singh Organizations: Woodbury, Sirius XM, Liberty Media, Costco, UBS, Evercore ISI, United Auto Workers, Mattel —, Mattel Locations: Central Valley , New York, U.S, Michigan
Media stocks — A handful of media and studio stocks rose Wednesday after the nearly 150-day writer strike ended. ChargePoint , Blink Charging — Shares of ChargePoint and Blink Charging gained 4.1% and 5.5%, respectively after UBS initiated coverage of the electric charging stocks with buy ratings. XPO — Shares added roughly 2% after XPO stock was upgraded to outperform from Evercore ISI, with analyst Jonathan Chappell highlighting margin growth potential and stronger pricing power. Mattel — Shares of the toymaker rose more than 4% after Morgan Stanley initiated coverage of Mattel with an overweight rating. AAR Corp — Shares of the aircraft services company rose 2.3% on the back of its quarterly earnings report.
Persons: MillerKnoll, XPO, Jonathan Chappell, Morgan Stanley, Levi Strauss, TD Cowen, Levi's, Piper Sandler, Kosmos, — CNBC's Brian Evans, Alex Harring, Jesse Pound, Hakyung Kim Organizations: Media, Warner Bros . Discovery, Paramount Global, Comcast, Disney, Netflix, UBS, Costco —, Costco, Evercore ISI, Mattel —, Mattel, Federal Trade Commission, AAR, Kosmos Energy, Bank of America
UBS reiterates Apple as neutral UBS said its survey checks show wait times for Apple's newest iPhone are shorter than compared to one year ago. Deutsche Bank reiterates Tesla as buy Deutsche said it sees "meaningful downside risk" in 2024 for Tesla, but that it's standing by its buy rating. " Bank of America reiterates Costco as buy Bank of America said it's standing by its buy rating after the company's earnings report Tuesday. "We initiate coverage of Leonardo DRS with a Buy rating and a $20 price objective, implying 23% upside potential." Bank of America reiterates Walmart as buy Bank of America said it sees gross margin expansion continuing for shares of the big box retailer.
Persons: Tesla, Goldman Sachs, Goldman, Brent, Morgan Stanley, Leonardo, Mattel, Evercore, TD Cowen, Levi's, William Blair, Berenberg, DA Davidson Organizations: Street, HSBC, Johnson, UBS, Apple, Deutsche Bank, Deutsche, Chevron, Bank of America, Occidental Petroleum, Costco, Kosmos Energy, of America, T Bank, MTB, Amazon, Electric Vehicle Supply, Leonardo DRS, BMO, Microsoft, Mattel, Biosciences, Twist Bioscience Corp, Walmart Locations: China, Europe, Berkshire
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMeta's stock will continue to increase amid gains, says Evercore ISI's Mark MahaneyMark Mahaney, Evercore ISI head of internet research, joins 'Closing Bell' to discuss Amazon's investment in artificial intelligence company Anthropic, Meta's stock price trajectory, and more.
Persons: Evercore, Mark Mahaney Mark Mahaney
CNN —Central bank officials around the world relayed a somewhat unified message this week to the global economy: Inflation is coming down, but the battle is far from won. Most held rates steady, taking a breather from a historic pace of interest rate hikes to stabilize skyrocketing prices. United States: The Federal Reserve in September paused interest rates for the second time after first hitting the brakes in June. The central bank has hiked rates 11 times since last March. While central banks took steps to pause interest rates this week, they kept future hikes on the table.
Persons: , Brian Henderson, Nate Thooft, TikTok, Nnete Matima, Catherine Thorbecke, Clare Duffy, TikTok’s, George Floyd, ” Matima, ByteDance, Matima, Anna Bahney, , Read Organizations: CNN Business, Bell, CNN, Federal Reserve, Fed, BOK Financial, United, Bank of England, Swiss National Bank, Manulife Investment Management, National Association of Realtors, That’s, NAR Locations: United States, United Kingdom, Switzerland, TikTok, Northeast, Midwest, South
Global central banks unite in "higher for longer" credo
  + stars: | 2023-09-21 | by ( Mark John | ) www.reuters.com   time to read: +6 min
The so-called "higher for longer" mantra is now the official stance of the U.S. Federal Reserve, European Central Bank and the Bank of England, as well as being echoed by monetary policy-makers from Oslo to Tapei. U.S. Federal Reserve policymakers had a similar message on Wednesday. Turkey's central bank confirmed its hawkish turn while in Asia, Taiwan's central bank flagged continued tight policy. Reuters Graphics"TIPPING POINT"Belgian central bank chief and ECB board member Pierre Wunsch - an early voice urging tougher central bank action to counter inflation from end-2021 - said on Thursday that monetary policy was now at the right level. That said, the prospect that global interest rates are pretty close to peak will be of huge relief to emerging economies suffering from heavy debt servicing loads.
Persons: Jerome Powell, Christine Lagarde, Kazuo Ueda, Ann, BoE, Andrew Bailey, Pierre Wunsch, Wunsch, COVID lockdowns, Jerome, Powell, Krishna Guha, Howard Schneider, Balazs Koranyi, Catherine Evans Organizations: European Central Bank, Bank of Japan, Kansas City Federal, REUTERS, U.S . Federal Reserve, Bank of England, U.S . Federal, Swiss National Bank, South African Reserve Bank, People's Bank of, Reuters, ECB, Reuters Global Markets, Economics, Sterling, Swiss, United, Thomson Locations: Jackson Hole , Wyoming, U.S, Central, Oslo, Tapei, Europe, Norway, Sweden, Asia, People's Bank of China, Belgian, United States, Ukraine, Washington, Frankfurt, London, Stockholm, Zurich, Ankara
Evercore ISI's Greg Melich is bullish on Costco. Here's why
  + stars: | 2023-09-21 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEvercore ISI's Greg Melich is bullish on Costco. Here's whyGreg Melich, Evercore analyst, joins 'Power Lunch' to discuss his bullish stance on Costco ahead of its next earnings report.
Persons: Greg Melich Organizations: Costco
For Fed Chair Jerome Powell, who spoke to the press after the two-day session ended, "Resetting market expectations about real rates was his most important mission," Colas said. But this week's meeting indicated that Fed officials expect rates to stay higher for longer. The thinking there is that if inflation moves lower, the Fed won't need to keep nominal rates as high because real rates will be rising. "But, until one or both of those things happen, higher real rates are the Fed's strategy to tame inflation," Colas said. "This tells us that current equity market churn is unlikely to end until bond markets have settled out."
Persons: wasn't, Nicholas Colas, Jerome Powell, Colas, Krishna Guha, Claudia Sahm, Guha, Powell, Powell's, Morgan Stanley, Ellen Zentner, Goldman Sachs, Goldman, David Mericle, Goldman doesn't, Mericle, DataTrek's Colas Organizations: DataTrek Research, Companies, Evercore ISI, U.S ., Fed
Here are Thursday's biggest calls on Wall Street: Baird reiterates Meta as outperform Baird said it's bullish heading into Meta's Connect event next week. Bank of America upgrades Nutanix to buy from neutral Bank of America said it sees numerous positive growth drivers ahead for the computer software company. " Guggenheim reiterates Sunrun as buy Guggenheim said Sunrun is the best positioned solar company. Bank of America reiterates Marriott as buy Bank of America said it's bullish heading into Marriott's analyst day next week. Wells Fargo reiterates Amazon as overweight Wells said it sees several "discreet headwinds" for Amazon that investors may not know about.
Persons: Baird, it's, NTNX, Guggenheim, Sunrun, Evercore, Goldman Sachs, Goldman, Jefferies, Wedbush, Uber, JPMorgan, rideshare, Piper Sandler, Piper, Marriott, Wolfe, Wells, Morgan Stanley, Howmet, Truist Organizations: Meta's, Meta, Qualcomm, Bank of America, of America, Costco, Google, JPMorgan, Disney, Petrobras, CF, Microsoft, monetization, UBS, Walmart, Deutsche Bank, Wax Center, Exxon, ExxonMobil, " Bank of America, Citi, Energy, Micron, MU, Aerospace Locations: Howmet's Whitehall
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed's higher for longer decision is due to unemployment data, not inflation: Fmr. CEA Chair FurmanJason Furman, Former Council of Economic Advisers Chair and Krishna Guha, Evercore ISI Vice Chairman, join 'Closing Bell Overtime' to talk the Fed's decision to leave interest rates unchanged this month.
Persons: Furman Jason Furman, Krishna Guha, Evercore Organizations: CEA, Furman, of Economic
(Reuters) - U.S. stock index futures inched higher on Tuesday ahead of a Federal Reserve monetary policy meeting and as investors awaited grocery delivery app Instacart’s Nasdaq debut to assess a potential recovery in the IPO market. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. Arm Holdings last week had a stellar market debut, raising hopes of a bounce back in the initial public offering (IPO) market. Investors will closely monitor the Fed’s quarterly report on economic projections to gauge participating members’ longer-term policy outlook. While most of the key data releases on inflation are out, investors will keep an eye on U.S. housing data for August, due at 8:30 a.m.
Persons: Brendan McDermid, , Matthew Morgan, Alyssa Henry Organizations: Reuters, Federal, Nasdaq, New York Stock Exchange, REUTERS, Inc, Arm Holdings, Fed, Jupiter Asset, Traders, Dow e, Block, CVS Health Corp, ISI, Intel Locations: New York City, U.S,
Investors should pounce on CVS' current attractive valuation, according to Evercore ISI. The firm upgraded the health and pharmacy stock to outperform from in-line in a Tuesday note, accompanied by an $83 per share price target up from $81. CVS stock has slipped more than 24% from the start of the year. CVS YTD mountain CVS stock. "CVS, like many [managed care organizations], is a complex organization, and we see a number of factors swinging in a positive direction, pointing to both a higher degree of confidence in [management's] outlook as well as supportive of higher valuation," Anderson said.
Persons: Elizabeth Anderson, Anderson, CNBC's Michael Bloom Organizations: CVS, ISI, Centers, Medicare, Services
The Carnival Miracle cruise ship operated by Carnival Cruise Line is docked at Pier 27 in San Francisco, Sept. 30, 2022. Dell Technologies — Shares rose more than 1.2% after Daiwa Capital Markets upgraded the computer stock to outperform from market perform. The Wall Street firm hiked its price target to $80 per share from $50, implying roughly 16% upside from Monday's close. Super Micro Computer — The information technology stock added more than 2% after Barclays initiated coverage of Super Micro Computer on Tuesday with an overweight rating. The firm's $327 price target represents nearly 34% upside from Monday's close.
Persons: Truist, Deere, Cowen, shakeup, — CNBC's Michelle Fox, Hakyung Kim Organizations: Carnival Cruise, Royal Caribbean Group, Truist, Royal, Cruise Lines, Deere & Company, Starbucks, CVS Health, pharma, CVS, Dell Technologies, Daiwa, Markets, Barclays, Computer, JPMorgan Locations: San Francisco, Royal Caribbean, China
Evercore ISI upgrades CVS to outperform from in line Evercore ISI said in its upgrade of the drugstore chain that the stock is attractive. Daiwa upgrades Dell to outperform from hold Daiwa said in its upgrade of Dell that "AI is starting to kick in." JPMorgan downgrades Planet Fitness to neutral from overweight JPMorgan downgraded Planet Fitness due to leadership changes and "ongoing systemic challenges." TD Cowen reiterates Nvidia as outperform TD Cowen said it's even more bullish on the stock after attending a recent conference. TD Cowen downgrades Starbucks to market perform from outperform TD Cowen said in its downgrade of the coffee giant that it's concerned about China pressures.
Persons: Goldman Sachs downgrades Lazard, Goldman Sachs, Truist, Daiwa, Chris Rondeau —, , TD Cowen, Cowen, it's, Raymond James, downgrades Deere, KeyBanc Organizations: Barclays, CVS, Dell, Holdings, JPMorgan, Nvidia, Technology, Apple, Micron, Citi, GE Healthcare, GE, General Electric, " Bank of America, Bank of America, China SSS, Evercore, Deere Locations: Royal Caribbean, China
A sign outside the Guru Nanak Sikh Gurdwara temple is seen after the killing on its grounds in June 2023 of Sikh leader Hardeep Singh Nijjar, in Surrey, British Columbia, Canada September 18, 2023. Here is what is known about Hardeep Singh Nijjar, the man at the centre of the row. - He was initially associated with the Babbar Khalsa International (BKI) Sikh separatist group, according to India's counter-terrorist, National Investigation Agency. - For supporters demanding a so-called independent Sikh state of Khalistan, Nijjar was a prominent leader and a strong voice for the cause. - He was elected head of the Guru Nanak Sikh Gurudwara, a Sikh place of worship, in Surrey, the Vancouver suburb where he lived.
Persons: Nanak, Hardeep Singh Nijjar, Chris Helgren, India's, Nijjar, Sakshi Dayal, YP Rajesh, Sharon Singleton Organizations: REUTERS, Khalistan Extremism Monitor, for Conflict Management, Babbar Khalsa International, National Investigation Agency, Pakistan's Inter, Services Intelligence, Khalistan Tiger Force, YP, Thomson Locations: Surrey, British Columbia, Canada, DELHI, Ottawa, New Delhi, India, Jalandhar district, India's, Punjab, Islamabad, Indian, Vancouver
[1/2] Lawyers, some of them look on television screen, dispaying the live broadcast of the proceeding from the Supreme Court of Pakistan, at the Sindh High Court Bar Association in Karachi, Pakistan September 18, 2023. The move marks the beginning of the tenure of new Chief Justice Qazi Faez Isa as Pakistan's top judge. Isa's first move as the top judge was to open proceedings for live broadcast. "It is a majority consensus decision to telecast live," Isa said at the start of proceedings shown live by state-run broadcaster Pakistan Television. Previous attempts to broadcast proceedings live had been blocked by the court.
Persons: Akhtar Soomro, Qazi Faez Isa, Isa, Umar Ata Bandial, Isa's, Shehbaz Sharif, Anwar ul Haq Kakar, Imran Khan, Faiz Hameed, Asif Shahzad, Mark Potter Organizations: Court Bar Association, REUTERS, Rights, Pakistan Television, Inter - Services Intelligence, Former, Thomson Locations: Pakistan, Sindh, Karachi, Rights ISLAMABAD
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