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☆ Morgan Stanley recommends buying this trio of Chinese EV makers after 2024 pullback
▼ + stars: | 2024-03-11 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

On the other hand, BYD (equal weight) will likely face another round of downward revisions from analysts due to market saturation in China, Hsiao wrote. "Although the macroeconomic and operational environment is certainly challenging, we think the negative forces influencing the trio of EV stocks are more or less [already reflected] in stock prices," Hsiao told clients. Li Auto has booked several profitable quarters in a row, demonstrating solid execution of model launches and effective cost management, Hsiao told clients. Morgan Stanley has boosted total sales volume for the company by 12% in 2024 and 8% in 2025, reflecting stronger demand for new models. Morgan Stanley has a price target of $10 for Nio's ADRs, equal to roughly 72% upside from the previous close of $5.80.

Persons: Morgan Stanley, Tim Hsiao, Hsiao, Li Auto, Li, Xpeng, Xpeng's, Nio's ADRs Organizations: Li Locations: China, Europe, Latin America, Southeast Asia

☆ Retailers turn to an unlikely source to boost profits. Walmart shows how powerful this lever could be
▼ + stars: | 2024-03-05 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

There are three main routes through which retailers like Walmart benefit from advertising, Tarlowe said. The focus in retail advertising once transitioned from in-store to retailer websites with the e-commerce boom, Gutman said. Walmart: The pack leader With the deal, Walmart appears ahead of the retail pack, Gutman said. Connected TV is also just one part of a broader tide-change that's bolstering optimism on the stock, analysts told CNBC Pro. Other retail ideas Beyond Walmart, analysts said retailers need size and scale to perform well within off-site advertising.

Persons: Jefferies, Corey Tarlowe, Tarlowe, Morgan Stanley, Matt, Simeon Gutman, Gutman, it's, Roku, FactSet, Warren Buffett, Franklin Templeton, Dan Niles Organizations: Walmart, Intelligence, Retailers, Albertsons, CNBC, P Retail, Costco, Target, FactSet, TGT, Nvidia, & & , & & () Locations: Arkansas, Vizio

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, UPS, Disney, UBS, Broadcom, Palantir, Tyson & more
▼ + stars: | 2024-02-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Deutsche Bank initiates Flywire as buy Deutsche said it sees an attractive entry point for the payments company. " "We are initiating coverage of Sprinklr with a Buy rating and a $16 price target. UBS upgrades UPS to buy from neutral UBS said in its upgrade of the stock that it sees "attractive EPS growth." Deutsche Bank reiterates Disney as buy Deutsche said it's sticking with its buy rating on Disney heading into earnings on Wednesday. "We are downgrading TSLA stock rating to 3/Neutral from 2/Outperform as we see corporate governance concerns aggravating already tough financial conditions in 2024."

Persons: Rosenblatt, Sprinklr, Bernstein, Tesla, underperform Bernstein, Morgan Stanley, Apple, it's bullish, Daiwa, Piper Sandler downgrades Chegg, Piper, Myers, Redburn, Northcoast, JPMorgan Organizations: Deutsche Bank, Li Auto, Deutsche, Education, Healthcare, UBS, Disney, OI, company's, Tesla, JPMorgan, Broadcom, Bank of America, Tyson Foods, underperform Bank of America, Citi, UFC, WWE, Global Locations: McDonald's, PLTR

☆ China auto stock to rebound by 45% amid market rout, Deutsche Bank says
▼ + stars: | 2024-02-06 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Investors have an attractive entry point for Li Auto after a recent sell-off, said Deutsche Bank. His new target implies shares can surge 46.4% over the next year from Monday's closing level. LI KWEB 3M mountain Li Auto vs. the ETF, 3-months This underperformance comes despite Li having a "best-in-class" management team, the analyst said. Yu noted he used a lower multiple for Li Auto given the broader de-rating across Chinese ADR shares and global electric vehicle makers. Li shares popped more than 6% in early trading Tuesday.

Persons: Li, Edison Yu, Yu, Yu's Organizations: Li Auto, Deutsche Bank, CSI China Internet, Li Locations: U.S, China, Shanghai

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Nike, TJX, Disney, Peloton, Re/Max, Home Depot and more
▼ + stars: | 2023-11-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating on the stock after its 10-K annual report. Morgan Stanley initiated Tal Education as overweight Morgan Stanley said the China education company is defensive. Morgan Stanley names TotalEnergies a top pick Morgan Stanley named TotalEnergies a top pick and says the energy company has "resource depth and resilience." Morgan Stanley reiterates Tesla as overweight Morgan Stanley said in a note Tuesday that Tesla needs to "stop missing numbers" and execute better, but that the firm is sticking with its overweight rating. Morgan Stanley downgrades Re/Max to underweight from equal weight Morgan Stanley said in its downgrade of Re/Max that it sees too many negative catalysts for the real estate company.

Persons: Morgan Stanley, Apple, it's, Edward Jones, Hewlett Packard, PC's, D.A, Davidson, Appian, Wells, Wells Fargo, financials, Tal, EDU, TAL, TotalEnergies, TJX, Goldman Sachs, Tesla, Melius, Morgan Stanley downgrades, Max Organizations: RBC, Home, ISI, Nike, Athletic, UBS, Apple, Citi, Deutsche Bank, TAM, Hewlett, Disney, Tal Education, BP, TJX Companies, Thomson Reuters, Nasdaq, Tesla, Nvidia Locations: Ceridian, China, OW

☆ Barclays is sued over ex-CEO's ties to Jeffrey Epstein
▼ + stars: | 2023-11-03 | by ( Jonathan Stempel | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +2 min

REUTERS/Toby Melville/File Photo Acquire Licensing RightsNov 3 (Reuters) - Barclays (BARC.L) was sued this week by investors in its U.S.-listed securities who said the British bank misled them about former Chief Executive Jes Staley's ties to the disgraced financier Jeffrey Epstein. Staley was Barclays' chief executive from 2015 and 2021. The investors said Barclays concealed or made misleading statements about Staley's and Epstein's relationship in public statements, regulatory disclosures about risks it faced, and communications with Britain's Financial Conduct Authority. A Nov. 9 hearing is scheduled in Manhattan federal court to consider final approval of the victims' settlement. The case is Merritt v Barclays Plc et al, U.S. District Court, Central District of California, No.

Persons: Toby Melville, Jes, Jeffrey Epstein, Staley, Epstein, C.S, Jonathan Stempel, Daniel Wallis Organizations: Barclays, REUTERS, JPMorgan Chase, Britain's Financial, Authority, Investors, New York Times, JPMorgan, U.S ., Merritt, Barclays Plc et, Court, District of, Thomson Locations: City, London, Los Angeles, Manhattan, U.S . Virgin Islands, U.S, District, District of California, New York

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 1 (Reuters) - Airbnb (ABNB.O) forecast fourth-quarter revenue slightly below Wall Street estimates on Wednesday, as tourists scale back on travel due to rising costs, uncertain economic conditions and geopolitical turbulence. However, that slice of revenue is moderating as more companies push their employees to return to the office. The San Francisco-based company forecast fourth-quarter revenue between $2.13 billion and $2.17 billion, below average analysts' estimate of $2.18 billion, according to LSEG data. Airbnb's third-quarter revenue rose 18% to $3.4 billion from a year earlier, while its gross bookings rose to $18.3 billion. Its revenue rose 18% to $3.4 billion, compared with average analysts estimate of $3.37 billion.

Persons: Dado Ruvic, Airbnb, Priyamvada, Anil D'Silva Organizations: REUTERS, Asia Pacific, Thomson Locations: San Francisco, United States, North America, Asia Pacific, China, Asia, America, Bangalore, New York

Looney's surprise resignation came after allegations of personal relationships with company colleagues surfaced recently, prompting the company to launch an investigation. That followed allegations the board investigated in May 2022 relating to personal relationships with company employees. During that review, Looney disclosed "a small number of historical relationships with colleagues prior to becoming CEO." Looney informed BP's board on Tuesday that he did not fully disclose details of all relationships, prompting his resignation. BP shares ended up 1% before the FT earlier reported his resignation after trading closed in London.

Persons: Bernard Looney, Amr Abdallah Dalsh, Murray Auchincloss, Looney, Looney's, BP's, Bob Dudley, Anirudh, Krishna Chandra Eluri, Marguerita Choy Organizations: BP, Egypt's, Petroleum, REUTERS, BP Auchincloss, Shell, Chevron, Exxon Mobil, Morningstar, Reuters, Thomson Locations: Cairo, Egypt, London, New York, COVID, Russia, Ukraine, Bengaluru, Shadia

☆ Novartis plans Sandoz spin-off around Oct. 4, proposes share
▼ + stars: | 2023-08-18 | by ( ) www.cnbc.com time to read: +1 min

Novartis on Friday proposed to offer shareholders one Sandoz share for every five Novartis shares as it said it planned to spin off the generic medicines division on or around Oct. 4. The Swiss drugmaker invited shareholders to an extraordinary general meeting on Sept. 15 after its board of directors unanimously endorsed and recommended the proposed spin-off, the company said in a statement. "If Novartis shareholders approve the proposed special distribution at the EGM, the Spin-off will be implemented through the distribution of a dividend-in-kind of Sandoz shares to Novartis shareholders, and of Sandoz ADRs (American Depositary Receipts) to Novartis ADR holders," it said. Sandoz, which accounted for about 10% of group core operating profit of $16.7 billion in 2022, was put under a strategic review by Novartis CEO Vas Narasimhan in 2021 following mounting pricing pressures in the U.S. off-patent drug sector. Novartis announced plans for the spin-off in August 2022.

Persons: Sandoz, Vas Organizations: Novartis, EGM, Sandoz, Sandoz ADRs Locations: Swiss, U.S

☆ Airbnb forecasts Q3 revenue above estimates on rebound in international travel
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/IllustrationAug 3 (Reuters) - Airbnb (ABNB.O) forecast revenue for the current quarter above market estimates on Thursday, as the vacation rental firm is set to gain from a rebound in international travel. The San Francisco-based company forecast revenue for the third quarter between $3.3 billion and $3.4 billion, ahead of analysts' average estimate of $3.22 billion, as per Refinitiv data. Travel operators have begun to benefit from a robust rebound in international travel, aided by pandemic restrictions easing and a strong U.S. dollar that has encouraged consumers to book flights and stays overseas. Gross bookings rose 13% to $19.1 billion, in line with analysts' average estimate. Airbnb's quarterly revenue rose 18.1%, to $2.48 billion, ahead of analysts' estimate of $2.42 billion.

Persons: Dado Ruvic, Airbnb, Gross, Priyamvada, Pooja Desai Organizations: REUTERS, Asia Pacific, Marriott, Hilton Worldwide Holdings, Spirit Airlines, Thomson Locations: San Francisco, United States, North America, Paris, France, Bengaluru

☆ Sony's growing exposure to anime content makes it a top stock to buy, according to Goldman Sachs
▼ + stars: | 2023-07-13 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Sony's growing exposure to anime content makes it a top stock to own, according to Goldman Sachs. The bank upgraded Sony to "Buy" and added the stock to its conviction list with a price target suggesting 29% upside. "We believe Crunchyroll... is well-placed to benefit from accelerating Japanese anime consumption overseas," Goldman said. The quality of content is a sticking point for many anime fans, and Goldman said Sony can play to that strength by acquiring and developing exclusive anime content that drives fans to sign up for the service. Accordingly, we expect Sony's future earnings to be less dependent on the single-year game and entertainment content pipeline than before," Goldman said.

Persons: Goldman Sachs, Goldman, Crunchyroll Organizations: Sony, Service Locations: Wall, Silicon, Tokyo, Crunchyroll

☆ Clearstream suspends processing of new Russian share conversions after EU sanctions
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

June 29 (Reuters) - European clearing giant Clearstream has suspended processing new client instructions to convert or cancel their American and Global Depository Receipt holdings in Russian companies after the latest round of European Union sanctions against Moscow. Investors globally are facing challenges in recovering stranded Russian investments in a saga that is spilling over to implicate Western depositories. Deutsche Bank (DBKGn.DE) has told clients it can no longer guarantee full access to Russian stocks that belong to them. Clearstream previously halted DR conversions in June 2022, only to resume processing in October. "The new rules quite strictly limit the conditions for the conversion of Russian securities for residents and citizens of the European Union," Grzegorz Drozdz, market analyst at investment company Conotoxia said.

Persons: Western, Clearstream, Grzegorz Drozdz, Conotoxia, Alexander Marrow, Sinead Cruise, Emelia Sithole Organizations: Global, Union, Moscow, Deutsche Bank, Deutsche, EU, Clearstream Banking, European Union, Thomson Locations: Russia, Europe

☆ Despite all odds, consumers are still traveling this summer. Here are the stocks you need to own
▼ + stars: | 2023-05-26 | by ( Michelle Fox | ) www.cnbc.com time to read: +11 min

Yet despite all odds, 61% of those surveyed said they plan to travel this summer, up from the 49% who said the same in summer 2021. Some 56% of adults are more likely to stay in a hotel this summer than they were in 2022, according to the AHLA/Morning Consult survey. Booking Holdings is also an analyst favorite, with an average rating of overweight and 10% upside to the average price target, per FactSet. While prices are still high, the latest consumer price index for April showed the airline fares index fell 2.6% month over month, after rising in February and March. Airlines are essentially sold out for summer travel, according to TD Cowen analyst Helane Becker.

Persons: Matt Kramer, They're, You've, Sylvia Jablonski, Kramer, Freed, Bernstein, David Vernon, Price, Robin Farley, Farley, James Hardiman, Hardiman, Josh Weinstein's, RevPar, Tony Capuano, Chris Nassetta, Biden, Hilton, they've, Airbnb, Brian Chesky, it's, Evercore, Mark Mahaney, amortization, Mahaney, Cowen, Helane Becker, Becker, — CNBC's Michael Bloom, Ashley Capoot Organizations: KPMG, KPMG Consumer, Survey, Cruise ETF, Royal, Holdings, Marriott, United Airlines, Morning, American, & Lodging Association, Cruises, UBS, Citi, CCL, CNBC, Hilton Worldwide, U.S . Travel Association, State Department, Booking Holdings, Booking, Airlines, Delta Air Lines, Copa Holdings, Panamanian, Copa Airlines Locations: United States, Royal Caribbean, United, Caribbean, CocoCay, Thursday's, China, North America, Asia, Europe

☆ Airbnb forecasts slower bookings in Q2, shares fall
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +2 min

May 9 (Reuters) - Airbnb Inc (ABNB.O) said on Tuesday it expects bookings growth and average daily rates to decline in the current quarter, signaling a reverse in demand trends and sending the vacation rental firm's shares down 9%. Revenue rose about 20% to $1.82 billion from a year earlier, compared with the average analyst estimate of $1.8 billion. The company said earlier this year that average daily rates (ADRs) will remain pressured as vacationers return to lower-cost urban rentals. Its first-quarter average daily rates (ADRs) remained flat at $168 compared with a year earlier. It forecast second-quarter revenue between $2.35 billion and $2.45 billion, largely in line with analysts' expectations.

☆ This education stock was hit by the emerging A.I. threat, but now BofA calls it a screaming buy
▼ + stars: | 2023-05-03 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Shares of Pearson don't deserve the same beatdown Chegg got, even as the threat of artificial intelligence grows in the education technology space, Bank of America said. Analyst David Amira double-upgraded the edtech stock to buy from underperform. He raised his price target to 895 pounds from 885 pounds, now implying an upside of 18.7% over Tuesday's close. Amira reiterated his neutral rating on Chegg in his note, but slashed the price target from $20 to $11. PSO CHGG 5D mountain U.S.-listed shares of Pearson vs. Chegg — CNBC's Michael Bloom contributed to this report.

☆ Mexico's Televisa reaches $95 mln investor settlement over FIFA bribery role
▼ + stars: | 2023-03-01 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

[1/2] The logo of broadcaster Televisa is seen outside its headquarters in Mexico City, Mexico, December 14, 2022. REUTERS/Raquel Cunha/File PhotoNEW YORK, March 1 (Reuters) - Grupo Televisa SAB (TLEVISACPO.MX) has reached a $95 million settlement to resolve a U.S. investor lawsuit accusing the Mexican broadcaster of bribing FIFA soccer officials to win rights to four World Cup tournaments. Investors said they suffered losses as the bribery became known during corruption trials in Brooklyn, New York, causing the ADR price to fall. Its law firm Boies, Schiller & Flexner may seek up to $28.5 million of the settlement in fees and $3.5 million for expenses. The case is In re Grupo Televisa Securities Litigation, U.S. District Court, Southern District of New York, No.

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☆ Hedge funds unimpressed by Chinese internet giants' peppy earnings
▼ + stars: | 2023-02-28 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

HONG KONG, Feb 28 (Reuters) - A set of bumper earnings reports from the likes of Baidu Inc and other Chinese internet giants isn't impressing hedge funds and other investors who have cut exposure to the stocks and seem to be waiting for more good news. Despite easily beating expectations for their earnings and giving optimistic forecasts for the recovery in demand, shares in both companies fell. Mark Dong, co-founder of Minority Asset Management, who is based in Hong Kong, says expectations for Chinese growth are clouded by doubts over how Beijing plans to stimulate the economy and deal with external risks. The internet sector index (.H11137) nearly doubled between late-October and January but has since fallen 20%. Global hedge funds such as Bridgewater Associates, Tiger Asset Management and Coatue Management are big holders of China internet stocks, which makes the sector more vulnerable to the global economic cycle and geopolitical tensions.

☆ China publishes rules to revive offshore listings
▼ + stars: | 2023-02-18 | by ( ) www.cnbc.com time to read: +3 min

China's securities watchdog published rules on Friday to regulate offshore listings, reviving foreign initial public offerings (IPOs) by Chinese firms after a regulatory freeze imposed in July 2021. Daniel Tu Active Creation CapitalUnder its new filing system, which effectively ends decades of unregulated overseas IPOs by Chinese companies, the CSRC will vet offshore listings. Friday's rules, amending a December draft, stipulate that overseas listings should not jeopardize China's national interests. Chinese offshore listings ground to a halt after Didi Global Inc's New York listing in June 2021 that triggered Beijing's regulatory backlash over data security concerns. China's tech crackdown also contributed to a near freeze in overseas listings by Chinese companies.

☆ Travel demand is hot, but some prices may cool: These are the stocks for spring break and beyond
▼ + stars: | 2023-02-18 | by ( Michelle Fox | ) www.cnbc.com time to read: +9 min

Last week, Hilton Worldwide CEO Chris Nassetta said, "The demand trends here and now are really strong." In the home-rental space, Airbnb also said it was seeing continued strong demand at the start of 2023. China's reopening from its Covid lockdown is also helping propel travel demand, as well as the tick up in business travel, she said. "The trends have been really strong since January," he said. Airlines like Delta, American Airlines and United Airlines cited strong travel demand and higher fares for fueling their strong fourth-quarter earnings — as well as for forecasts for this year.

☆ 'Big Short' investor Michael Burry reveals new bets on Alibaba, MGM, and JD.com
▼ + stars: | 2023-02-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Michael Burry built new stakes in Alibaba, JD.com, and MGM Resorts last quarter. The investor of "The Big Short" fame may have spied value in beaten-down Chinese tech stocks. The investor of "The Big Short" fame bought 50,000 American Depositary Shares (ADS) of Alibaba, valued at $4.4 million on December 31. He also scooped up 75,000 American Depositary Receipts (ADR) of JD.com, worth $4.2 million at the end of last year. Burry's Scion Asset Management also purchased 100,000 shares of MGM, a position worth $3.4 million at last quarter's close.

The company sold 10 million American depository receipts (ADRs) at $19 apiece, according to its regulatory filings, and shares closed at $21.05. The deal is the biggest from a Chinese company selling shares in New York since LianBio (LIAN.O) raised $334 million in October 2021, according to Refinitiv data. Chinese company listings in the United States ground to a halt in 2021 after the debut of ride hailing giant Didi Global Inc (92Sy.MU) in June of that year. As a result, Chinese listings in the United States dwindled and mainland regulators also moved to draw up new guidelines governing companies selling shares overseas. Chinese companies raised nearly $230 million in U.S. listings in 2022, according to Refinitiv data, representing a massive drop from $12.85 billion a year earlier.

Ana de Armas garnered an Academy Award nomination for best actress in a leading role for her performance as Marilyn Monroe in Netflix's "Blonde" — amid controversy over the movie. De Armas, 34, was nominated for the Oscar a day after “Blonde” got eight Razzie Award nominations, including worst picture and screenplay, further underscoring how polarizing the film has been. This is the Cuban-born actor's first Oscar nomination. Her performance in the movie also earned de Armas her second Golden Globe nomination last year. “Argentina, 1985” won a Golden Globe last month for best non-English language motion picture.

It was also nominated for best TV musical or comedy TV series. Gomez, 30, was nominated for her performance as Mabel Mora in Hulu's true crime satire “Only Murders in the Building." The show was also nominated for best musical or comedy TV series. Also joining the club of first-time Latino Golden Globe nominees are Aubrey Plaza, Diego Calva and Diego Luna. Two other young Latinas, Anya Taylor-Joy and Ana de Armas, landed best performance nominations for their leading movie roles.

☆ UBS: Buy this global confectionary stock which is poised to rise 36% from here
▼ + stars: | 2022-12-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

It's time to snap up shares of Swiss chocolate maker Barry Callebaut despite a slowdown in the global confectionery market, according to UBS. The Swiss investment bank has a buy rating on the stock and raised its 12-month price target to 2,500 Swiss francs ($2,692). UBS is not the only investment bank expecting this stock to rise. The median price target of 7 analysts, not including UBS, gives the stock a 23.4% upside from its current share price. Barry Callebaut is accessible to U.S. investors through its ADR ticker BRRLY.

☆ Hedge funds bought the dip in Chinese stocks — here are their favorite ADRs
▼ + stars: | 2022-11-27 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Hedge funds bought the dip in Chinese stocks last quarter after many technology names sold off amid political uncertainty, according to Goldman Sachs. U.S. hedge fund ownership of Chinese ADRs increased modestly during the third quarter after declining for four straight quarters, according to Goldman. At the start of the fourth quarter, 20% of equity hedge funds had a long position in at least one Chinese stock, the firm said. Alibaba remained the most popular China ADR among U.S. hedge funds, and it's the only Chinese stock to be included in Goldman's Hedge Fund VIP list . Brad Gerstner's hedge fund Altimeter Capital bought $69 million worth of Pinduoduo last quarter, according to a filing.

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