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☆ Analyst forecasts a surprising source of revenue upside for chipmaker Nvidia
▼ + stars: | 2024-04-08 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

Other Wall Street analysts in recent weeks offered different views on the state of Nvidia's China-specific AI chips. Nvidia has been sampling AI chips designed to comply with U.S. government export restrictions to Chinese customers since last fall. NVDA 1Y mountain Nvidia's stock performance over the past 12 months. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Nvidia Stock Soar | Future Publishing | Getty Images

Persons: Nvidia's, Jeff Marks, Wolfe, Tencent, Biden, China –, Xi Jinping, Jensen Huang, KeyBanc, Jim Cramer's, Jim Cramer, Jim Organizations: Nvidia, KeyBanc, Markets, FactSet, Wall, Wolfe Research, U.S, Microsoft, Street, Huawei, Blackwell, Nvidia's, Taiwan Semiconductor Manufacturing Company, CNBC, Visitors, Future, Getty Locations: China, Nvidia's China, U.S, Hangzhou

☆ Wednesday analyst calls: JPMorgan downgrades New York Community Bancorp, Eli Lilly gets big boost
▼ + stars: | 2024-02-07 | by ( Pia Singh | ) www.cnbc.com time to read: +8 min

Troubled regional bank New York Community Bank faced a downgrade from JPMorgan, which said NYCB is facing a multitude of challenges. The firm upped its price target for the drug maker to $850, all the way from $200. Wells Fargo : Analyst Zachary Fadem kept his overweight rating and raised his target price by $200 to $2,800, implying 12.5% upside for shares. "After speaking to management, we confirmed these two executives had indeed left the company, wrote JPMorgan analyst Steven Alexopoulos. NXP's stock price is down 2.9% for the year, but still higher than 15% over the past 12 months.

Persons: Eli Lilly, Eric Gonzalez, Gonzalez, Wells, Zachary Fadem, Sara Senatore, Chipotle, — Pia Singh, JPMorgan downgrades, Steven Alexopoulos, Alexopoulos, John Melloy, Vivek Arya, Arya, Robyn Karnauskas, Karnauskas, Zepbound Organizations: CNBC, New York Community Bank, JPMorgan, Pharma, Truist Securities, Semiconductors, Bank of America, KeyBanc, Barclays, New York Community Bank JPMorgan, New, Community Bank, Financial Times, Bloomberg News, New York Community Bancorp, Battery Management Systems, Food and Drug Administration Locations: Wells Fargo, Tuesday's

☆ Alphabet set to report fourth-quarter earnings after the bell
▼ + stars: | 2024-01-30 | by ( Ari Levy | ) www.cnbc.com time to read: +4 min

Alphabet is scheduled to report fourth-quarter earnings Tuesday after the market closes. Revenue: $85.33 billion, according to LSEG. $85.33 billion, according to LSEG. $8.94 billion, according to StreetAccount. Between 2015 and the end of 2021, revenue growth reached at least 15% in all but three quarters.

Persons: Sundar Pichai, Pichai, — CNBC's Jennifer Elias Organizations: Allen, Co . Media, Technology Conference, Google, Microsoft, Meta, YouTube, Amazon Web Services, KeyBanc, Markets, Tech, Apple Locations: Sun Valley , Idaho

☆ Analysts think these tech stocks could rise even as the S&P 500 hits a record high
▼ + stars: | 2024-01-22 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

There could still be further gains ahead for tech stocks, even as the sector boosted the S & P 500 to a new record-high closing last Friday. After kicking off the new year with a lukewarm start, the technology sector turned the ship around, largely driven by the ongoing artificial intelligence frenzy . Despite these gains, broader analyst consensus indicates that there are still tech stocks poised to go higher from here. Likewise, analysts on average think design software company Synopsys could rally another 18%. Last week, the company announced it would acquire engineering simulation software company Ansys in an approximately $35 billion deal .

Persons: Brad Zelnick, John Vinh, Trimble, —, Fred Imbert Organizations: CNBC Pro, Oracle, Deutsche Bank, Semiconductor, KeyBanc Capital Locations: Oracle's

☆ What chipmaking giant TSMC's earnings mean for 5 of our stocks, including Apple and Nvidia
▼ + stars: | 2024-01-19 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +7 min

The latest financial results and commentary from the world's biggest third-party chipmaker gave a big boost Thursday to Apple and semiconductor stocks, including artificial intelligence leader Nvidia . Taiwan Semiconductor Manufacturing Company , whose customers include the likes of Apple, Nvidia and fellow Club stock Broadcom , said its fourth-quarter revenue from smartphone chips grew a better-than-expected 27% on a quarterly basis. "Let's not overthink it: Apple and Nvidia are the two that are most obvious" beneficiaries from TSMC's results, Jim Cramer said Thursday. Previously, TSMC had said AI chips were on track to become a "low teens" percentage of its revenue. TSMC's results and guidance Thursday offer so-called "read-throughs" on its customers, many of which are Club stocks such as Apple, Nvidia and Broadcom.

Persons: chipmaker, downgrades, TSMC, Jim Cramer, Goldman Sachs, TSMC's bullishness, Linde, that's, Jim Cramer's, Jim Organizations: Apple, Nvidia, Taiwan Semiconductor Manufacturing Company, Club, Broadcom, Qualcomm, Bank of America, Wall Street, Google, Devices, AMD, TSMC, KeyBanc Capital, LIN, Linde, DuPont, Electronics, CNBC, Bloomberg, Getty Locations: China, Hsinchu, Taiwan

☆ Semiconductor stocks surged in 2023. Why investors may want to brace for volatility in the new year
▼ + stars: | 2024-01-16 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Prepare for volatility in the semiconductor industry after an exuberant 2023 that saw prices surge and left many companies with lofty valuations. "Higher valuations in my experience lead to higher investor expectations and those higher investor expectations typically lead to higher volatility," said Michael Brenner of FBB Capital Partners . Computer chip stocks surged in 2023, largely due to enthusiasm surrounding the use of artificial intelligence and the need for advanced semiconductors. Bracing for volatility Semiconductor companies have a lot to prove in 2024 after wowing investors last year. KeyBanc Capital Markets' John Vinh said in a recent note to clients that auto industry semiconductor demand in the new year will benefit Analog Devices , NXP Semiconductors and On Semiconductor .

Persons: Michael Brenner, Capital's Paul Schatz, Sylvia Jablonski, Robert Pavlik, Brenner, FBB, Jensen Huang, Nvidia aren't, Schatz, Jablonski, Intel's, Ross Seymore, Seymore, Brenner isn't, John Vinh, bode, Vinh, Mizuho's Vijay Rakesh, — CNBC's Michael Bloom Organizations: FBB Capital Partners, iShares Semiconductor, Dakota Wealth, Nvidia, Broadcom, Micron Technology, Devices, Deutsche, Marvell Technology, Taiwan Semiconductor, Infineon, EV, KeyBanc, NXP Semiconductors, Semiconductor, Qualcomm, Lam Research

☆ Here were the biggest winners and losers from Black Friday
▼ + stars: | 2023-11-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Despite the seeming rush to shop, this Black Friday ushered in moderately higher promotions over last year and mixed in-store traffic, according to some Wall Street analysts. Black Friday winners Value-focused shopping destinations seemed to win big Friday, based on annual store checks from a slew of Wall Street shops. The Black Friday shopping extravaganza also ushered in some bullish sentiment toward Shopify . Black Friday losers Not every popular retailer seemed to kick off the holiday shopping period on a strong note. While Lululemon drove strong in-store traffic, helped in part by advertising use in Black Friday markdowns, Nike and Under Armour both showed higher promotions, said Piper Sandler's Abbie Zvejnieks.

Persons: Michael Lasser, Bradley Thomas, Thomas, Kohl's, Morgan Stanley, Alex Straton, Goldman Sachs, Kate McShane, JPMorgan's Matthew Boss, Piper Sandler's Korinne Wolfmeyer, Morgan Stanley's Keith Weiss, Bhavin Shah, shouldn't, Nordstrom, Straton, Lululemon, Armour, Piper Sandler's Abbie Zvejnieks, lululemon Organizations: Adobe Analytics, UBS, Walmart, KeyBanc Capital, Dick's Sporting Goods, Body, Deutsche, Eagle Outfitters, Nike Locations: U.S

☆ Walmart's stock is still a bargain at these levels, says Keybanc's Bradley Thomas
▼ + stars: | 2023-11-16 | 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 EmailWalmart's stock is still a bargain at these levels, says Keybanc's Bradley ThomasBradley Thomas, managing director at Keybanc Capital Markets, joins 'Squawk on the Street' to discuss at what point Walmart's stock becomes a bargain, how the thesis around the stock changes with deflation, and more.

Persons: Keybanc's Bradley Thomas Bradley Thomas Organizations: Keybanc

Service centers - facilities that play a crucial role in supplying manufacturing companies nearly finished steel products - had paused purchases ahead of the United Auto Workers (UAW) union's coordinated strike against the Detroit automakers. However, many of them were soon forced to place large orders as stocks ran low and operations resumed at the carmakers. Reuters Graphics Reuters GraphicsThe automotive segment makes up about 25% of the total U.S. sheet demand, with about 65% of that attributable to the Big Three Detroit automakers in any given year, CRU data showed. Nucor Corp (NUE.N) has raised HRC prices to $950/st while U.S. Steel (X.N) recently announced a $100/st price increase, without specifying a final rate. Meanwhile, automakers stare at higher costs for a key raw material if prices extend their upward trajectory for longer.

Persons: union's, Ryan McKinley, Morgan, Philip Gibbs, Gordon Lee Johnson, Ananta Agarwal, Nathan Gomes, Arpan Varghese, Sriraj Organizations: Detroit Three, CRU Group . Service, United Auto Workers, UAW, Detroit, CRU, Reuters Graphics Reuters, Big Three Detroit, Cleveland Cliffs, HRC, Nucor Corp, U.S . Steel, KeyBanc, GLJ Research, Thomson Locations: Bengaluru

☆ Apple earnings: Here's what to expect
▼ + stars: | 2023-11-02 | 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 EmailApple earnings: Here's what to expectBrandon Nispel, Keybanc Capital Markets senior analyst, joins 'Power Lunch' to preview Apple ahead of the company's earnings report after the bell today.

Persons: Brandon Nispel Organizations: Keybanc Capital Markets

☆ The NBA is shooting for a new media rights deal worth up to $60 billion, nearly triple its previous pact, that will pay teams and players millions more
▼ + stars: | 2023-10-27 | by ( James Faris | Margaret Fleming | ) www.businessinsider.com time to read: +11 min

Media analysts widely expect the league to select at least three distributors for its next media rights deal after the current setup expires in 2025. Comcast's NBCUniversal could be a frontrunner for a spot in the NBA's new media deal alongside Amazon, Nispel said. NBA players could be poised to earn sky-high paydaysThe NBA's last media deal — the $24 billion contract it struck in 2014 — was nearly triple the value of its previous pact. The pressure is now on the NBA to deliver a media deal that satisfies teams, athletes, and fans. Still, Macquarie media analyst Tim Nollen is optimistic about the size of the NBA's next media rights deal.

Persons: Jessica Reif Ehrlich, disruptors, Brandon Nispel, Nispel, —, Shirin Malkani, who's, Perkins, Leron Rogers, that's, Mark Patricof, Tim Nollen, Nollen, Reif Ehrlich, Ehrlich Organizations: NBA, Media, ESPN, Warner Bros, TNT, Disney, Apple, NBC, Comcast, Wall Street, Bank of America, NFL, MLB, NHL, KeyBanc Capital, Amazon, Flagship, ABC, Prime, Industry, Patricof, Macquarie, Diamond Sports

☆ These Nasdaq stocks are already in a bear market, including Tesla and Airbnb
▼ + stars: | 2023-10-26 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

CNBC Pro recently screened for a list of these stocks, shown here: The list of names includes Tesla, which is down 29% from its 52-week high in July. Even Morgan Stanley's Adam Jonas, who has an outlier overweight position on the stock, trimmed his price target to $380 from $400. Another name on the list was Enphase Energy , which is down 72.2% from its 52-week high on Dec. 5. Dollar Tree is off 36% from its 52-week high in November 2022. The accompanying price target of $137 corresponds to a potential 26.5% upside from Wednesday's close.

Persons: Morgan Stanley's Adam Jonas, Bernstein's Toni Sacconaghi, Tesla, Justin Patterson, SolarEdge, Enphase, Goldman Sachs, Michael Bloom Organizations: Nasdaq, it's, CNBC Pro, Wall, KeyBanc Capital, Enphase Energy, Daiwa

☆ How Walmart became America’s largest grocer
▼ + stars: | 2023-10-22 | by ( Shawn Baldwin | ) www.cnbc.com time to read: +1 min

In an effort to stretch their dollars, a growing number of Americans are turning to Walmart . The Arkansas-based retailer is America's largest grocer, more than twice the size of its next-biggest competitor as it takes in more than one in four grocery dollars in the U.S., according to KeyBanc Capital Markets. Though many Americans have turned to Walmart for relief from higher prices, the retailer's shoppers aren't immune to inflation. But with inflation cooling and prices leveling off, will Walmart be able to hang on to its newly acquired shoppers? CNBC looks into Walmart's grocery business to see why even more Americans might be buying food from the company in the future.

Persons: Brad Thomas Organizations: Walmart, KeyBanc, CNBC Locations: The Arkansas, U.S, America

☆ Analysts say growth concerns and increased competition in China are weighing on Apple stock
▼ + stars: | 2023-10-18 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

A pullback in Apple stock can largely be attributed to a potential fourth-straight quarter of declining revenue expected to be reported early next month, in addition to increased competition in China, according to analysts. Given its $2.7 trillion market capitalization, Apple is the largest company in the U.S. and thus a stock market bellwether. AAPL 5D mountain Apple stock. Nispel also pointed to headwinds in China stemming from increased competition from Huawei as being a potential drag on the stock recently. Reitzes also pointed to concerns about the China business as well as geopolitical issues weighing on the broader market as headwinds afflicting Apple.

Persons: Tim Cook, Brandon Nispel, they've, Nispel, Ben Reitzes, Reitzes, Huawei's, David Vogt, Apple, They're, CNBC's Michael Bloom Organizations: Apple, KeyBanc, Huawei, Jefferies, Wall, UBS Locations: China, U.S

☆ With new U.S. export restrictions, can Nvidia thrive in the long term without China?
▼ + stars: | 2023-10-17 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +5 min

The U.S. government plans to restrict the sale of advanced AI chips to China in the coming weeks, the Commerce Department announced Tuesday. KeyBanc Capital Markets said Tuesday that the new restrictions are a negative for Nvidia, arguing "it will ultimately be difficult to backfill China demand." The A800 and H800 are modified versions of Nvidia's cutting-edge AI chips used in data centers, known as the A100 and the more recent H100. To comply with the new rules, Nvidia created the A800 and H800 chips, which had slower data-transfer speeds and therefore didn't violate the export controls. The latest export controls, which U.S. officials said will go into effect in 30 days, again threaten those sales.

Persons: Biden, chipmaker –, Jeff Marks, Marks, — CNBC's Kristina Partsinevelos, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Nvidia, Commerce Department, KeyBanc, Markets, Microsoft, Oracle, U.S, supercomputing, Intel, Devices, CNBC, NVIDIA Locations: China, U.S, Santa Clara , California

☆ This could be the next major bullish catalyst for AI darling Nvidia
▼ + stars: | 2023-10-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

A new chip from Nvidia could prove the next major catalyst for the artificial intelligence darling in 2024, according to Wall Street analysts. Even so, Wall Street remains bullish on the chipmaker, with about 85% of analysts holding a buy rating on the stock, and the average price target implying 43% upside from Friday's close. While the launch of the next-generation chip known as Blackwell isn't expected until 2024, Wall Street analysts are already bracing for the debut to drive significant growth at Nvidia, which already dominates the AI market. The chip is also slated to carry a higher average selling price and better performance than Nvidia's current H100 model. Piper Sandler's Harsh Kumar called the product the "next-gen compute GPU product" for AI and high performance computing.

Persons: Jensen, Blackwell isn't, Atif Malik, Piper Sandler's Harsh Kumar, John Vinh, Vinh, — CNBC's Michael Bloom Organizations: Nvidia, Wall Street, Citi, Taiwan Semiconductor, KeyBanc Locations: CoWoS, 2H24, 4Q24

☆ Wall St Week Ahead Surging Treasury yields upend stock market's "bond proxies"
▼ + stars: | 2023-10-06 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

Such areas are often referred to as "bond proxies" for their strong, stable dividends, which over the past decade have usually exceeded Treasury yields. But surging bond yields have dulled the appeal of bond proxies. As a result, shares of bond proxies have taken an outsize hit in recent weeks. The S&P 500 utilities sector (.SPLRCU) has tumbled 13% since last month’s Fed meeting. While the sector is expected to see stronger growth than the overall S&P 500 in the third and fourth quarters, its projected 8.6% increase in 2024 lags the expected 12% rise for the overall S&P 500, according to LSEG IBES.

Persons: Brendan McDermid, Irene Tunkel, LSEG, James Ragan, Davidson, Ragan, Lewis Krauskopf, Ira Iosebashvili, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Treasury, Fed, Staples, AT, Verizon, Investors, BCA Research, Reuters Graphics, Friday's, U.S, sector's, Nextera Energy, Nextera Energy Partners, KeyBanc, Markets, Thomson Locations: New York City, U.S, Philadelphia, VandaTrack

☆ Goldman analysts say these stocks have the most downside potential
▼ + stars: | 2023-10-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Western Digital and Intel are up by double digits in 2023, but Goldman Sachs says these shares may see sharp declines. But even given this optimism, Goldman believes some stocks are bound to fall. In a recent note, the firm detailed several stocks that have the most downside potential based on Goldman's respective target prices. This summer, Western Digital issued weak guidance for its fiscal first quarter, calling for a loss ranging between $2.10 and $1.80 per share, excluding items. The firm sees a descent of more than 14% for the lodging stock, a sharp turn from its 49% year-to-date gain.

Persons: Goldman Sachs, David Kostin, Goldman, FactSet, Justin Patterson, Northrop, — CNBC's Michael Bloom Organizations: Western Digital, Intel, Chief, KeyBanc, Northrop Grumman, APA, Hormel Locations: Airbnb

☆ KeyBanc downgrades Airbnb, says travel demand will ease after pandemic recovery
▼ + stars: | 2023-10-03 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

It's time to step to the sidelines on shares of Airbnb as the Covid-19 pandemic recovery bump fades, according to KeyBanc Capital Markets. ABNB 1D mountain Airbnb "Our call is that leisure travel has experienced a material recovery from 2021-2023E, resulting in outsized margin expansion, " Patterson wrote in a Monday note. "As these tailwinds fade, we see elevated risk to [room nights and experiences] and [average daily rate] growth." Airbnb has outperformed this year as a resilient consumer shelled out money for travel and experiences. "We believe this could create an overhang on shares as ABNB transitions from a growth to GARP investor base," Patterson said.

Persons: Justin Patterson, Patterson, Airbnb, — CNBC's Michael Bloom Organizations: KeyBanc, Markets Locations: Airbnb, New York City

☆ KeyBanc downgrades Apple shares to sector weight, says U.S. sales are likely to struggle
▼ + stars: | 2023-10-03 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +1 min

KeyBanc Capital Markets cut its rating on Apple to sector weight from overweight late Tuesday, citing the shares' high valuation as well as an expectation for soft growth in the United States. Nispel noted that Apple trades at 7.1 times premium to the Nasdaq based on enterprise value to earnings before interest, taxes, depreciation and amortization. KeyBanc also anticipates soft growth in the Americas region, noting that about 37% of Apple's revenue comes from the U.S. and that sales there are "likely to struggle." Finally, the firm anticipates fiscal 2024 revenue growth of 3.5% compared to a consensus of more than 6%. Apple shares are up nearly 33% year to date.

Persons: Brandon Nispel, Nispel, KeyBanc, — CNBC's Michael Bloom Organizations: Apple, Nasdaq Locations: United States, U.S, Americas

☆ Stocks making the biggest moves premarket: Warby Parker, HP, Point Biopharma and more
▼ + stars: | 2023-10-03 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Co-CEOs Neil Blumenthal and Dave Gilboa of Warby Parker at the New York Stock Exchange on Sept. 29, 2021. Warby Parker — Warby Parker jumped about 4% after Evercore ISI upgraded the eyeglass retailer to an outperform rating, saying shares could rally more than 50% as the company's margins and revenue growth reaccelerate. Eli Lilly , Point Biopharma — Shares of Point Biopharma popped 85% after Eli Lilly announced it would buy the cancer therapy maker for $12.50 a share in cash, or roughly $1.4 billion. Warner Music Group — Warner added 3.5% after UBS upgraded the stock to buy from neutral. Emerson Electric — The industrial giant dipped 1% in premarket trading after UBS downgraded the stock to neutral from buy, citing the company's valuation and limited upside.

Persons: Neil Blumenthal, Dave Gilboa, Warby Parker, Warby Parker — Warby Parker, Eli Lilly, Biopharma, McCormick —, McCormick, Roth MKM, —, Alex Harring, Sarah Min, Michelle Fox, Pia Singh Organizations: New York Stock Exchange, ISI, HP, Bank of America, StreetAccount, Warner Music Group, Warner, UBS, KeyBanc, Emerson

☆ Home builders traditionally gain market share during periods of low inventory, says KeyBanc's Zener
▼ + stars: | 2023-09-20 | 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 EmailHome builders traditionally gain market share during periods of low inventory, says KeyBanc's ZenerKenneth Zener, KeyBanc Capital markets analyst, 'Closing Bell Overtime' to talk KB Homes earnings and the real estate market.

Persons: KeyBanc's Zener Kenneth Zener Organizations: KeyBanc Capital

☆ As Hollywood strikes press on, Wall Street weighs in on the outlook for TV, streaming stocks
▼ + stars: | 2023-09-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +10 min

At the same time, legacy media companies face off against another well-known demon: cord-cutting. Technology companies such as Apple and Amazon can lean on their respective hardware and e-commerce businesses, said Paul Fanelli, a research analyst at Gabelli Funds. Even so, Wall Street sees only a handful of pure-play winners in the TV and streaming space winning consumer attention over the long run. Already, the technology companies have shown some promise. Consumers are increasingly forgoing pay TV packages from cable companies and opting for bundles from companies like Alphabet, he said.

Persons: Rosenblatt, Barton Crockett, It's, Netflix's, Ken Leon, Hollywood's, Leon, Jamie Lumley, Paul Fanelli, it's, Apple's, Amazon's, That's, Needham, Laura Martin, Martin, —, John Hodulik, CNBC's, bode, Crockett, NBCUniversal's Peacock, Brandon Nispel, Nispel, Disney's hasn't, Fanelli, that's Organizations: Netflix, Apple, Paramount, Sky, Third, Gabelli, Warner, UBS, ESPN, Fox, NFL, Hulu, YouTube, KeyBanc, Comcast, Disney, Warner Bros, Max, DIS, Rosenblatt, ABC, Nexstar, CNBC Locations: France, United Kingdom

☆ Furniture companies in a rut as fewer people buy big-ticket items
▼ + stars: | 2023-09-09 | by ( Samantha Delouya | ) edition.cnn.com time to read: +4 min

CNN —People aren’t buying furniture like they used to. Last week, a pair of furniture retailers said they are experiencing a massive sales slump compared to last year. On Friday, shares of RH (RH) fell 16%, while Hooker Furnishings (HOFT) dropped 17%. The two companies are the latest in a growing list of furniture retailers seeing a slowdown after years of growth fueled by pandemic-era stay-at-home trends. Wayfair, an online furniture seller, saw its second-quarter revenue decline 3.4%, and La-Z-Boy, a furniture manufacturer, reported a 20% drop in sales in August.

Persons: Hooker, David L, Ryan, ” Williams, Laura Alber, Brad Thomas, ” Thomas, ”, Gary Friedman, Thomas, Bob Williams, Chris Moye, ” Hooker, Jeremy Hoff, “ Organizations: CNN, West Elm, Boston Globe, KeyBanc, Home, Target, Mortgage, Association Locations: Virginia, Wayfair, Williams, Sonoma, Lynnfield

☆ This mega-cap tech hitting a 52-week high is proving to be the next big AI play after Nvidia
▼ + stars: | 2023-08-30 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Alphabet shares hit a 52-week high Tuesday after showcasing its AI and machine learning capabilities at its annual Cloud Next event. Bank of America's Justin Post said the search company was "flexing its AI muscle," adding that its AI capabilities are a major customer selling point and should be a positive driver for the stock. Along with the hardware updates, Alphabet revealed pricing for a suite of AI-powered tools for enterprise customers. At $30 a month, Citi's Ronald Josey called the contribution "material over time," and said the event should mitigate any "remaining overhangs" on Google's Cloud AI capabilities. Correction: Google shares recently hit a 52-week high.

Persons: Morgan Stanley, Brian Nowak, Nowak isn't, Bank of America's Justin Post, Citi's Ronald Josey, Justin Patterson, Doug Anmuth Organizations: Nvidia, Microsoft, Bank of America's, KeyBanc Capital, Google

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