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All three major averages posted gains for the third consecutive week, lifted by solid quarterly earnings and positive economic data. Earnings season ramps up next week, with five of the Super Six mega-cap stocks delivering results. Employment numbers are the most important economic data, with Friday's January nonfarm payrolls report carrying the most weight. The January ISM Manufacturing report on Thursday and December's factory orders report Friday are expected to show the sector still in contraction mode. But earnings and commentary this week from peer Sartorious made us encouraged about a return to growth in 2024.
Persons: nonfarm, December's, Sartorious, We've, Stanley Black, Decker, We're, We'd, Royal Philips, Crane, Woodward, ServisFirst, Cadence Bancorporation, CADE, Johnson, Phillips, Avery Dennison, Columbus McKinnon, Robinson, SIRI, Cardinal Health, Parker, DOV, Pitney Bowes, Ferrari N.V, CSW, COLM, W.W, Grainger, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Gross, Procter, Gamble, Gillette, Super, Consumer, JPM Healthcare, Amazon, Microsoft, Honeywell, Aerospace, Solutions, Apple Watch, Masimo, Vision Pro, Franklin Resources, Resource Partners, Bank of Marin Bancorp, Bank7 Corp, Pacific Premier Bancorp Inc, Provident Financial Holdings, Dynex, Cliffs Inc, Nucor Corp, Whirlpool Corp, F5 Networks, Capital Southwest Corp, Harbors Investment Corp, Crane Co, Payne, Equity, Heartland Financial, Cadence, FinWise Bancorp, Five Star Bancorp, PotlatchDeltic Corporation, Sanmina Corporation, Pfizer, General Motors Corp, United Parcel Service, JetBlue Airways Corporation, Smith Corp, Marathon Petroleum Corp, HCA Healthcare, Oshkosh Corporation, SYSCO Corp, Danaher Corp, Johnson Controls, M.D.C . Holdings, Commvault Systems Inc, Hope Bancorp, Hubbell Incorporated, Malibu Boats, Polaris Industries, Inc, Camden National Corp, Cambridge Bancorp, Microsoft Corp, Starbucks Corp, Devices, Electronic Arts Inc, Juniper Networks, Stryker Corp, Lending, Canadian, Canadian Pacific Kansas City Limited, Mondelez, Chubb Corporation, Modine Manufacturing, Partners, Management, Hawaiian Holdings, Manhattan Associates, Unum Group, UNM, Axos, Enova, Boston Properties, Boeing Co, Novo Nordisk, Mastercard Inc, Roper Technologies, Boston Scientific Corporation, MarketAxess Holdings, Fisher, Aptiv PLC, Hess Corp, Nasdaq, United Microelectronics Corp, Rockwell Automation, Teva Pharmaceutical Industries, Ltd, Avery, Avery Dennison Corp, Extreme Networks, Otis Worldwide Corporation, OTIS, Columbus, Columbus McKinnon Corp, Central Pacific Financial Corp, Brinker International, Fortive Corporation, Qualcomm, Technology, Metlife, Hanover Insurance, Barn Holdings, CONMED Corporation, DLH Holdings Corp, Meritage Homes Corporation, Honeywell International, Eaton Corp, Altria, Royal Caribbean Cruises Ltd, Merck, Co, Enterprise Products Partners, Dorian LPG, SiriusXM Holdings, Cardinal, Hannifin Corporation, Allegheny Technologies Incorporated, Tractor Supply Company, Trane Technologies, Dover Corp, Huntington Ingalls Industries, Brunswick Corporation, Dickinson, Canada Goose Holdings, Kirby Corp, WEC Energy Group, WestRock Company, Allegro MicroSystems, Ball Corporation, Broadridge Financial, BrightSphere Investment Group, CMS Energy Corp, Lancaster Colony Corp, Rogers Communications Inc, Sanofi, Apple, Atlassian Corporation, United States Steel Corp, Corp, Adtalem Global, Homes, DXC Technology Company, Eastman Chemical Company, Gen, Post Holdings, America, Columbia Sportswear Company, Exxon Mobil Corp, Chevron Corporation, Myers Squibb Co, CIGNA Corp, Regeneron Pharmaceuticals, Charter Communications, AON, Cboe, Dwight, Banco Santander, Jim Cramer's Charitable, CNBC, Apple Vision, Getty Locations: China, East, United States, Europe, Cleveland, Alexandria, California, Corning, Canadian Pacific, Teradyne, TER, Novo, Hanover, PBI, Skechers U.S.A, Bristol, Chile
For an example of how climate change is increasingly becoming a flashpoint in the culture wars, Germany is a good place to start. Meanwhile, Spain’s far-right Vox party vowed to defend the country against “the new climate religion.”But to understand why climate change and the culture wars have become so enmeshed globally, experts say the United States probably holds the key. It’s effective, it does scare people.”The origins of the climate culture war in the US lie in the early 1990s, when a new push for global climate action collided with big geopolitical change, McCright said. Lightning rod for right wing mediaConservative media has played an outsized role in fueling culture war narratives, according to experts. Fox has “been laying the groundwork necessary for positioning climate policies as a culture war issue for a long time,” she said.
Persons: , stoked, , Miranda Schreurs, Anger, Green, Kristin Brinker, Jörg, Stephan Lewandowsky, Rishi Sunak, , ” Sunak, Vox, Ron DeSantis, ” DeSantis, Aaron McCright, McCright, ” McCright, , Brandon Bell, Lewandowsky, “ you’d, ” Alec Tyson, Alexandria Ocasio, Cortez, Sen, Ed Markey, Allison Fisher, Fisher, Fox, didn’t, Ed Matthew, Matthew said, Jennie King, ” King, Germany —, Matthew of E3G, ” Schreurs, “ it’s Organizations: CNN, Green Party, Technical University of Munich, University of Bristol, British, Justice, Florida Gov, Republican, Michigan State University, Oil, Republicans, Pew Research, Pew, Conservative, Massachusetts, Green, Deal, Fox, Media, Institute for Strategic Locations: Germany, Charlottenburg, Berlin, Europe, United States, West Texas, Florida, American, Kyoto, Soviet Union, Federal, Midland , Texas, Alexandria, Cortez of New York
The jingle, last used in the mid-2000s, became an earworm for anyone watching TV during the ’90s when it seemingly blanketed the airwaves nonstop. Chili’s is hoping that nostalgia will draw renewed interest in the restaurant chain that’s in the midst of a turnaround. The new TV ad, featuring Boyz II Men singing a modernized version of the jingle, will also be promoted on social media this month. “It feels natural for us to rerelease the ‘Baby Back Ribs’ jingle and pay homage to Chili’s legendary menu item in a nostalgic way,” the group said in a release. The latest version is the “biggest rerelease of Chili’s iconic earworm yet and doesn’t stray too far from the original version,” the chain said.
Persons: Boyz, Guy Bommarito, Chili’s, Bommarito, , Kevin Hochman, Brinker, Hochman, they’re “ Organizations: New, New York CNN, GSD, Brinker International, KFC, Brinker Locations: New York
Brinker International CEO Kevin Hochman goes one-on-one with Jim CramerBrinker International President and CEO Kevin Hochman joins 'Mad Money' host Jim Cramer to talk quarterly earnings, changing consumer trends and more.
Persons: Kevin Hochman, Jim Cramer Brinker, Jim Cramer Organizations: Brinker, Jim Cramer Brinker International
But in the end, it's fundamentals that drive earnings and earnings that drive stock prices. Looking ahead to next week, we'll get several important macroeconomic updates along with nine Club earnings reports. Economic releases Next week is Jobs Friday when we get the government's monthly nonfarm payrolls report. Club stock earnings Club name Caterpillar (CAT) reports third-quarter results before the opening bell Tuesday. DuPont (DD) is set to report earnings.
Persons: it's, we'll, nonfarm payrolls, We'll, Estee Lauder, Eli Lilly, BUD, Jerome Powell, Kraft Heinz, WEN, Papa John's, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Caterpillar, GE Healthcare, DuPont, Bausch Health, Starbucks, Apple Watch, VF Corp, GE HealthCare, Pfizer, JetBlue, Anheuser, Busch InBev, Devices, Caesars Entertainment, Cruise, CVS Health, Brinker International, Yum Brands, PayPal, Qualcomm, Mondelez, Novo Nordisk, Barrick, Penn Entertainment, Paramount Global, Marriott, Ferrari, Molson Coors, TAP, Coinbase, Natural Resources, Booking Holdings, International, Monster Beverage, Health, Resources, Dwight, Restaurant Brands, Sempra Energy, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange Locations: North America, China, New York City, U.S
KeyBanc initiates Arm Holdings as overweight Key said it sees "meaningful market share gains" for Arm. " Bank of America reiterates Microsoft as buy Bank of America said Microsoft remains a top pick heading into earnings next week. Deutsche Bank reiterates Ulta as buy Deutsche said despite softening beauty sales, Ulta remains "compelling." "After tripling its market share in China in the last decade, NetEase is emerging as a global video games content powerhouse by forming synergistic partnerships with gaming industry veterans globally that will likely drive a similar runway for its global market share." "As we had anticipated (although we thought it would come in January), ASML reset expectations for CY24 to flat revenue growth vs prior guide of 'growth.'"
Persons: Wedbush, Key, IoT, Raymond James, Brinker, FWRG, Jefferies, Ulta, Morgan Stanley, NetEase, Redburn, Guggenheim, Doug McMillon, Bank of America downgrades Sherwin, Williams, Sherwin, Ecolab, McDonald's Organizations: UBS, Apple, Citi, Nvidia, NVIDIA, Holdings, ARM, JPMorgan, Bank of America, Microsoft, Jefferies, Deutsche Bank, Deutsche, Avis Deutsche, Walmart, of America Locations: China, Europe, Japan, Dutch, ESTC, Brazil, underperform
2 chicken chain in the U.S., a decade after Chick-fil-A first unseated KFC from the top spot. Restaurant Brands International 's Popeyes launched a chicken sandwich in 2019 that turned into a blockbuster menu item and ushered in the chicken sandwich wars. Similar to KFC, Popeyes lost market share in the past year, but still retained enough to leapfrog its rival. It took more than a year for KFC to respond to Popeyes' chicken sandwich. 2 chicken chain.
Persons: Popeyes, Chick, Wendy's, Kevin Hochman, Patrick Doyle, Sami Siddiqui Organizations: KFC, Starbucks, Restaurant Brands, Yum Brands, Barclays, Brinker International, School Conference, CNBC Locations: U.S, Atlanta
Check out the companies making headlines in premarket trading. Nike — The sneaker behemoth added nearly 10% in premarket trading after a mixed earnings report. Brinker International — The Chili's parent climbed 4% after Stifel upgraded the stock to buy from hold. Editas Medicine — The genome editing company popped 9% in premarket trading following a Stifel upgrade to buy from hold. Ball — Shares added 1.7% in premarket trading after the aluminum-can maker was upgraded by Jeffries to buy from hold.
Persons: Brinker, Stifel, Jeffries, , Northcoast, CNBC's Brian Evans, Pia Singh, Jesse Pound, Michelle Fox Organizations: Nike, Opry, LSEG, Uranium Energy, Wonder Group, Anheuser, Busch InBev —, Bank of America, Stifel, KFC, Research Locations: Nashville , Tennessee, Olive
Tesla — Stock in the electric vehicle company added 1.5% in midday trading Friday. Canaccord Genuity reiterated a buy rating on the EV stock on Thursday ahead of vehicle deliveries data. Elsewhere, Citi remained neutral on Tesla and reduced its vehicle delivery forecast to 450,000 from 468,500. Bumble — The online dating platform added 3% after Loop Capital Markets upgraded the stock to buy from hold. Corcept Therapeutics — Shares slumped 17% in midday trading as the firm contends with ongoing litigation against Teva Pharmaceuticals.
Persons: Elon Musk, Canaccord Genuity, Tim Wentworth, Roz Brewer, Bumble —, Cushing, Teva, — CNBC's Pia Singh, Alex Harring, Michelle Fox, Hakyung Kim, Darla Mercado Organizations: U.S, Senate, Intelligence, Capitol, Washington , D.C, Citi, Barclays, Anheuser, Busch InBev — U.S, LSEG, Cruise, Wonder Group, Nvidia —, Blackwell, Nvidia, Nike —, Nike, Walgreens, Bloomberg, Therapeutics, Teva Pharmaceuticals, Texas, Northcoast Research Locations: Washington ,
Bank of America reiterates Disney as buy Bank of America said it's standing by its buy rating on the stock. Morgan Stanley reiterates Ford as overweight Morgan Stanley said it's standing by its overweight rating on shares of Ford despite the United Auto Workers strike. Canaccord reiterates Tesla as buy Canaccord said its standing by its buy rating on Tesla ahead of its upcoming delivery numbers report. Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating on shares of Apple. Morgan Stanley reiterates Amazon as overweight Morgan Stanley said Amazon continues to be the "dominant" player in e-commerce.
Persons: Jefferies, Edward Jones downgrades Berkshire Hathaway, Edward Jones, Morgan Stanley, Ford, it's, Canaccord, Tesla, we've, Goldman Sachs, Raymond James, Bud Light, Apple, Amazon, Brinker, Stifel, Huntington Organizations: Jefferies, Ball Corporation, Bank of America, Disney, DIS, CYE23, Texas, 3Q23, Brands, Burger King, Ford, United Auto Workers, HSBC, FedEx, UPS, DHL, Nike, Immunology, " Bank of America, Anheuser, Busch InBev, of America, Apple, Citi Locations: Texas, QSR, North America, Asia, ZION
Here are some of the tickers on my radar for Friday, Sept. 29, taken directly from my reporter's notebook:Sacrilege: Edward Jones downgrades Berkshire HathawayDomino's PizzaChilis and Maggianos owner Brinker InternationalLoop Capital upgrades Burger King and Tim Hortons owner Restaurant BrandsBank of America raises energy drinks maker CelsiusIf you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free.
Persons: Edward Jones downgrades Berkshire Hathaway, Tim Hortons, Jim Cramer's Organizations: Burger, Restaurant Brands Bank of America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBrinker International CEO on the state of the restaurant industry, industry softness and Q4 earningsBrinker International CEO Kevin Hochman joins 'Power Lunch' to discuss the company's Q4 earnings, the state of the restaurant industry and the rising cost of food.
Persons: Kevin Hochman Organizations: Brinker
Here are some of the tickers on my radar for Thursday, Aug. 17, taken directly from my reporter's notebook:Tapestry CapriCiti raises NordstromLots of split opinions on BrinkerMultiple price target cuts on Chinese e-commerce giant JD.comIf you like this list, sign up for my Top 10 Morning Thoughts on the Market email newsletter for free.
Persons: Brinker Organizations: Nordstrom
Washington, DC CNN —Federal Reserve officials meet next month to determine whether to raise interest rates for the 12th time to cool the economy or hold them steady. Some officials think the Fed has already raised its benchmark lending rate enough to curb inflation, but others think it’s too soon to tap the brakes. Philadelphia Fed President Patrick Harker echoed that sentiment in a speech last week, saying “I believe we may be at the point where we can be patient and hold rates steady.”Other Fed officials agree. “Inflation is still significantly above” the Fed’s 2% target, Fed governor Michelle Bowman said last week at an event in Atlanta. The Federal Reserve releases minutes from its July policymaking meeting as well as July figures on industrial production.
Persons: ” Rajeev Sharma, , Jerome Powell, Patrick Harker, , Raphael Bostic, there’s, Michelle Bowman, ” Carol Schleif, ” Schleif, Katie Lobosco, Brinker Organizations: CNN Business, Bell, DC CNN — Federal Reserve, Key Private Bank, CNN, , Fed, Financial, Philadelphia Fed, Atlanta Fed, BMO Family Office, Internal Revenue, Tax Administration, IRS, Kansas City Tax Processing, Fresno Tax Processing, China’s National Bureau of Statistics, Depot, US Commerce Department, Target, Federal Reserve, Walmart Locations: Washington, Jackson Hole , Wyoming, Atlanta, Kansas, Fresno
State of the consumer: Retail sales for July are out on Tuesday. Key retail earnings reports from Walmart (WMT), Target (TGT) and Tapestry (TPR) will also provide clues on the health of the consumer. Earnings : On Wednesday morning, we hear from Club holding TJX Companies (TJX). Prior retail sales data has shown monthly sales growth at clothing and clothing accessory stores accelerate throughout the quarter, rising 0.14% monthly in April, 0.3% in May and 0.6% in June. For those looking to review first-quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.
Persons: We'll, Estee Lauder, we've, Palo, Cardinal Health, JD.com, Brinker, BILL, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Dow Jones, Investors, Walmart, TJX Companies, Palo Alto Networks, Embraer, Energy, Getty, Sea Ltd, Cardinal, Nu Holdings, Housing, ZIM, Food, Colgate, Palmolive, Cisco Systems, Chemical & Mining, Keysight Technologies, Ross Stores, Deere & Company, Alto Networks, Jim Cramer's Charitable, CNBC Locations: China, Dole, DOLE, Manhattan, New York City
Goldman raised its price target to $248 a share, from $185. UBS lowered its price target on Modera stock to $191 a share, from $221. BMO raised its price target on SHW stock to $275 a share, from $269. Wells Fargo on Monday initiated coverage on Brinker International (EAT) with an underweight, or sell, rating and $31-per-share price target. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Goldman Sachs, Goldman, Roth MKM, Sherwin, Williams, Morgan Stanley, Eli Lilly, LLY, Jim Cramer's, Jim Cramer, Jim Organizations: Sunday, UBS, BMO Capital, BMO, Monday, Club, Palo Alto Networks, American Diabetes Association, Brinker, JPMorgan, Wynn Resorts, WYNN, Jim Cramer's Charitable, CNBC Locations: Covid, cybersecurity, Wells Fargo, Las, Macao, China
Here are Monday's biggest calls on Wall Street: Bank of America upgrades Alliant to buy from neutral Bank of America said shares of the Wisconsin and Iowa energy company are attractive. UBS upgrades Moderna to buy from neutral UBS said the biotech company's pipeline is underappreciated. UBS downgrades Alphabet to neutral from buy UBS said it sees "near-term monetization risk" for the tech giant. Bank of America reiterates Paramount Global as buy Bank of America said the media company is "unique." Loop reiterates Disney as buy Loop said it's standing by its buy rating on the entertainment and parks giant.
Persons: LNT, Goldman Sachs downgrades Tesla, Goldman, Morgan Stanley, TD Cowen, Coinbase, underperform TD Cowen, Wells, Brinker, Williams, Tesla, Bernstein, Uber, Davidson, Roth, Roth MKM, Piper Sandler, Lululemon, Piper, LULU Organizations: Bank of America, of America, UBS, Moderna, Walmart, Amazon Prime, BTC, BMO, Sherwin, Deutsche Bank, Deutsche, Citi, Boeing, WSFS Financial Corporation, Networks, TAM, Meta, Paramount Global, Brunswick Locations: Wisconsin, Iowa, China
'We're working on the right things to accelerate growth', says Brinker's CEO Kevin HochmanBrinker International President and CEO Kevin Hochman joins 'Mad Money' host Jim Cramer fresh off the company's investor day which saw the stock drop more than 6% during the trading day.
Persons: Kevin Hochman Brinker, Kevin Hochman, Jim Cramer Organizations: Kevin Hochman Brinker International
CNBC's Jim Cramer told investors on Friday to stay bullish going into the week ahead, even as the market starts to cool down. "I liked [the market] more yesterday than I do today because it's higher, and that's how you have to think." On Monday, Cramer will be watching Apple 's Worldwide Developers Conference, where new products, ideas and software updates will be on display. Cramer's bottom line is to stay bullish, as he believes the Fed won't drastically raise rates at its next meeting. "We are not going to overstay our bullish welcome mat because others are stomping on it," Cramer said.
Persons: CNBC's Jim Cramer, Cramer, everybody's, Brinker, Chipotle — Organizations: Apple, American Society of Clinical Oncology, Moderna, Merck, Bristol, Myers, Darden
Chili's has hired staff to bus tables and streamlined preparation, according to the New York Times. Some have found it at Chili's, according to the New York Times. In the early years of the pandemic, Chili's experimented with technology, such as a robot server, to handle the labor shortage and increase efficiency. "When you go out to eat you want to be waited on, and that hasn't changed," Hochman told the Times. Jasmine Owens, a longtime bartender at a Chili's outside of Atlanta, told the Times that customers would scream and toss their food during the pandemic.
Persons: Chili's, , Kevin Hochman, Hochman, hasn't, Jasmine Owens, Owens Organizations: New York Times, Service, Times, Brinker International, Restaurant Industry Locations: Chili's, Dallas, State, Atlanta
Jim Cramer goes one-on-one with Brinker International CEO Kevin HochmanBrinker International CEO Kevin Hochman joins 'Mad Money' host Jim Cramer to talk the company's quarterly earnings results, changes in Chili's restaurants, and menu updates.
The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.
But PPI readings can predict the direction of future consumer price readings. High interest rates hurt because they increase monthly costs, but it's the lack of supply that contributes to elevated list prices. If we can get inflation down while seeing other economic indicators hold up, the likelihood of a soft landing increases. ET: Industrial Production & Capacity Utilization Looking back It was a tough week for stocks, with the Dow falling 4.4% in its worst showing since June. Under the hood, all sectors finished lower for the week, led down by financials and followed by materials and real estate.
The outlook for Club holding Wynn Resorts (WYNN) hasn't been this good since the Covid pandemic started. I've been saying more needs to be done to right the ship at this Club holding. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
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