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Analyst Edward Kelly upgraded the discount retailer to overweight from equal weight and opened a $180 price target. Yefremov's $400 price target indicates shares can jump 31.7% from Wednesday's closing price. Analyst Andrea Teixeira downgraded the energy drink maker to neutral from overweight and cut her price target by $7 to $59. — Alex Harring 5:38 a.m.: Wall Street reacts to Meta earnings Meta Platforms disappointed investors with its weak revenue guidance , sending shares down about 13% in premarket trading. His price target of $55 implies upside of 22% over the next 12 months.
Persons: Bernstein, Wells, Edward Kelly, shrinkflation, Kelly, — Alex Harring, Sherwin, Williams, Aleksey Yefremov, Yefremov, Doug Creutz, Creutz, Judas, Goldman, bullish, Goldman Sachs, Brooke Roach, Roach, Andrea Teixeira, Alex Harring, Ford, Wells Fargo, Colin Langan, Langan, LSEG, Eric Sheridan, Brian Nowak, Morgan Stanley, Doug Anmuth, Ronald Josey, Daniel Roeska, Roeska, General Motors, Fred Imbert Organizations: CNBC, General Motors, Traders, Grand Theft, Sony, Electronic Arts, TJX, TJX Companies, JPMorgan, Monster Beverage, Ford, Ford Pro, Facebook, Meta, Citi, mojo, General, GM Locations: Wells Fargo, Thursday's, Wednesday's, Michigan
A logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen during the TSMC global RnD Center opening ceremony in Hsinchu on July 28, 2023. (Photo by Amber Wang / AFP)Taiwan Semiconductor Manufacturing Company on Thursday beat revenue and profit expectations in the first quarter, thanks to continued strong demand for advanced chips, particularly those used in AI applications. The firm guided first-quarter revenue to be between $18 billion and $18.8 billion. The continued demand for advanced chips, particularly those used in AI applications, is a positive sign for both the short and long term. "TSMC's net profit margin continues to be one of the highest in the company's history at 40%, against an industry average of 14%, demonstrating TSMC's strong competitive position.
Persons: Amber Wang, Brady Wang, TSMC, Grzegorz Drozdz Organizations: Taiwan Semiconductor Manufacturing Company, Center, Nvidia, Apple, Counterpoint Research, Research, Samsung Foundry Locations: Hsinchu, AFP, Taiwan, U.S, Arizona
Morgan Stanley raised its price target on Netflix to $700 from $600. 7:13 a.m.: JPMorgan cuts Boeing price target, but says demand should push strong long-term growth Investors shouldn't give up on Boeing as a long-term investment, according to JPMorgan. Analyst Seth Seifman lowered his price target by $20 to $210, implying 21.1% potential upside for shares of the aerospace company. He raised his target price by $14 to $62, which suggests 4.2% potential upside for DocuSign over the next year. The analyst kept his neutral rating on the stock but cut his price target by $16 to $180.
Persons: Morgan Stanley, Seth Seifman, Seifman, — Pia Singh, Evan Seigerman, Seigerman, Karl Keirstead, DocuSign, Keirstead, Itay Michaeli, Michaeli, Tesla, Elon Musk, Benjamin Swinburne, Swinburne, Wolfe, Shreyas Patil, Patil, Fred Imbert Organizations: CNBC, Netflix, Wolfe Research, JPMorgan, Boeing, Novo Nordisk, BMO Capital Markets BMO Capital, pharma, UBS, Adobe, Citi, Citi Research, Tesla, Netflix Netflix, Mobileye Locations: China, Novo, U.S, Netflix's
Here are Friday's biggest calls on Wall Street: Morgan Stanley reiterates Netflix as overweight Morgan Stanley raised its price target on the stock to $700 per share from $600. Morgan Stanley reiterates Starbucks as overweight Morgan Stanley lowered its price target to $115 per share from $120 but says it's sticking with Starbucks shares. "Charles Schwab's profitability, earnings growth, and free cash flow yield make it an attractive stock in the Financial sector." "Our 12-month price target of $84 (17% potential upside) is unchanged and we maintain our Buy rating on the stock." Goldman Sacks reiterates Apple as buy Goldman said it's sticking with its buy rating ahead of earnings in early May.
Persons: Morgan Stanley, Wolfe, Piper Sandler, Charles Schwab, Piper, Schwab, Charles, Marvell, Jefferies, ASO's, BTIG, it's, Rosenblatt, Raymond James, Goldman Sacks, Apple, Goldman, Janney, Tesla Organizations: Netflix, BMO, Microsoft, Starbucks, JPMorgan, " Bank of America, Bank of America, Sports, Environment, UBS, NYSE, Energy, Arista Networks, Arista, AI Data Center, Mizuho, Citi, Cisco Citi, Cisco, Boeing, Novo Nordisk Locations: South America, Europe, China
Investors looking to bet on the artificial intelligence boom may want to take a look at Taiwan Semiconductor Manufacturing , according to JPMorgan. Analyst Gokul Hariharan reiterated his overweight rating on the semiconductor maker, a supplier to chip majors such as Nvidia , Advanced Micro Devices and Qualcomm , saying that "all roads in AI semis lead" to the company. Within the next three to four years, Hariharan expects Taiwan Semiconductor to maintain its greater-than 90% market share of AI-connected processor silicon. By 2026, he forecasts the company's revenues can hit $119 billion, driven by robust growth in high-performance computing as AI training and inference demand grows. A solid setup for the company's 3 nanometer process technology for chipmakers such as Nvidia should also benefit revenues.
Persons: Gokul Hariharan, Hariharan Organizations: Taiwan Semiconductor Manufacturing, JPMorgan, Nvidia, Devices, Qualcomm, Taiwan Semiconductor, SOX, AMD, Broadcom, Marvell, Hariharan Locations: Taiwan
Wells Fargo reiterates Citi as overweight Wells Fargo raised its price target on Citi to $80 per share from $70." "We initiate coverage of Kinetik Holdings Inc. with an Outperform rating and $40 price target." "We are initiating coverage of Motorola Solutions (MSI) with an Outperform rating and $400 Target price." Citi reiterates Netflix as neutral Citi raised its price target on Netflix to $660 per share from $555. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's standing by its overweight rating on the stock.
Persons: BoB, Mizuho downgrades Tesla, Wells, Wells Fargo, Kinetik, it's bullish, Huya, Raymond James downgrades Dave, Raymond James, Dave, Buster's, Morgan Stanley, it's, Evercore, Sealy, Raymond James downgrades Scotts, Tesla, MASI Organizations: Bank of America, Nvidia, Mizuho, Citi, RBC, Kinetik Holdings, Northland, Astera, of America, " Bank of America, Meta, Argus, Barclays, Adobe, ISI, Motorola Solutions, Netflix, Mattress, JPMorgan, PT, Raymond James downgrades Scotts Miracle, Gro, Scotts Miracle, Strong, MASI, UBS, Apple, Arista Networks, Arista Locations: China
Early analyst calls featured one firm calling for more gains for Nvidia and an upgrade to a major beverage and snacks maker. HSBC raised its price target on Nvidia to $1,050, which implies upside of nearly 20% for the chipmaker. His price target of $190 indicates upside of 15.4% over the next 12 months. — Fred Imbert 5:43 a.m.: HSBC hikes Nvidia price target ahead of GTC Conference HSBC sees more upside in store for shares of Nvidia as the chip giant defends its AI position and reaches new markets. Given this backdrop, analyst Frank Lee boosted the firm's price target to $1,050 from $880 a share, reflecting nearly 20% upside from Friday's close.
Persons: Morgan Stanley, Raymond James downgrades, Raymond James, Steve Moss, Moss, management's, Samantha Subin, Brad Lin, Lee, bode, — Samantha Subin, Dara Mohsenian, Fred Imbert, Frank Lee Organizations: CNBC, Nvidia, HSBC, PepsiCo, York Community Bancorp, New York Community Bancorp, Bank of, Taiwan Semiconductor, AI, Bank of America, Intel, GTC Conference HSBC, GTC Conference
Morgan Stanley reiterates Starbucks as overweight Morgan Stanley said it's standing by its overweight rating on Starbucks shares. Morgan Stanley upgrades Pepsi to overweight from equal weight Morgan Stanley said the beverage giant is undervalued. Morgan Stanley initiates Ball Corporation as equal weight Morgan Stanley initiated the beverage can company and says the stock is fairly valued right now. Morgan Stanley names LifeStance a top pick Morgan Stanley named the mental health company a top pick on Monday. Morgan Stanley reiterates Micron as underweight Morgan Stanley raised its price target on the stock to $78 per share from $74.75 and said it's sticking with its underweight rating heading into earnings later this week.
Persons: KeyBanc, Morgan Stanley, it's, Telsey, ESAB, Mizuho, Goldman Sachs, Tesla, Raymond James downgrades, Raymond James, LifeStance, Wolfe, Bernstein, Truist, Wells, Wells Fargo, F2Q Organizations: Apple, JPMorgan, 1Q, Meta, HSBC, Nvidia, Netflix, RBC, Howmet Aerospace, York Community Bank, Pepsi, Ball, Citi, Micron, IT, Downside, Bank of America, Taiwan Semiconductor, Pinnacle, of America, Pinnacle West Capital Corp, ISI, UBS, CCL Locations: Berlin, underperform, Taiwan, Arizona, Underperform
Zendaya wore a silver suit of armor to the "Dune: Part Two" world premiere on Thursday. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementZendaya wore a silver suit of armor for the “Dune: Part Two” world premiere in London on Thursday night, dividing the internet on whether it was stunning or laughable. Many criticized him considering the effort that Zendaya went to with her silver suit.
Persons: Zendaya, Law Roach, Thierry Mugler, , , Denis Villeneuve’s, loo, Ze, aime, Tim o, prem, vit, Organizations: Service, London, sil Locations: London
TSMC, which is the world's largest producer of advanced processors, manufactures chips for companies such as Nvidia and Apple . Morgan Stanley increased the price target on the U.S. chip giant to $750 from $603 on Feb. 7 and said it continues "to see a very strong near term picture." TSMC shares opened at a high of 709 New Taiwan dollars on Thursday morning and closed at NT$697, nearly 8% higher from its last close on Feb. 5. The Taiwan Stock Exchange resumed trading on Feb. 15 after the Chinese New Year break. "B100 transition an important near term driver, impacting H100 lead times and competitive dynamics," wrote Morgan Stanley analysts in the Feb. 7 report to clients.
Persons: TSMC, Morgan Stanley, ChatGPT Organizations: Taiwan Semiconductor Manufacturing Company, Nvidia, Apple, New, Taiwan Stock Exchange Locations: Krakow, Poland, U.S, New Taiwan
The world's largest contract chipmaker Taiwan Semiconductor Manufacturing Company on Thursday posted better-than-expected profit and revenue on the back of weaker macroeconomic conditions. That compares with TSMC's guidance for fourth-quarter revenue between $18.8 billion and $19.6 billion. "In the fourth quarter, revenue increased 14.4% sequentially [from the third quarter], supported by the continued strong ramp of our industry-leading 3-nanometer technology," said TSMC in its fourth-quarter earnings report. But analysts say chip inventories at smartphone and PC makers are running down and expect restocking demand to pick up. In its third-quarter earnings report in October, TSMC said that its business was supported by the industry-leading 3-nanometer technology and higher demand for 5-nanometer technologies, partially offset by customers' ongoing inventory adjustment.
Persons: TSMC, Brady Wang Organizations: Taiwan Semiconductor Manufacturing Company, Apple, Nvidia, Samsung Electronics, SK Hynix, Counterpoint Research Locations: Taiwan
Roth MKM downgrades ChargePoint to neutral from buy Roth said it's concerned about weak demand for charging equipment. UBS upgrades Pacific Biosciences to buy from neutral UBS said the biotech company has growth potential. Citi reiterates Microsoft as buy Citi said it's standing by its buy rating on the stock. Morgan Stanley upgrades Analog Devices to overweight from equal weight Morgan Stanley said the bottom is in sight for the semiconductor company. Truist initiates Dick's as buy Truist said in its initiation of the stock that it sees an attractive buying opportunity. "
Persons: Evercore, Roth, it's, CHPT, Wolfe, underperform Wolfe, RBLX, GitLab, Hubbell, Morgan Stanley, Carvana, Raymond James, Cava, Redburn, Piper Sandler, Piper, buybacks, Baird, Truist, Lululemon, Kimberly, Clark Organizations: EV, UBS, Pacific Biosciences, Citi, Microsoft, Barclays, JPMorgan, HSBC, UW, downgrades, Products, Nvidia, Coherus BioSciences, Goods, Zim Locations: ChargePoint, billings, 2Q24
Wednesday's batch of analyst research included bullish calls on a credit card giant and a sports betting name. The firm downgraded the pharmaceutical stock to neutral from overweight and lowered its price target to $55 per share from $68. The bank downgraded the Canadian Solar to underweight from neutral in a Wednesday note and lowered its price target to $22 per share from $32. The analyst noted that the guidance given confirms his bull case for the stock, which consists of a $70 price target. The bank initiated coverage of the credit card giant with an overweight rating and a $184 per share price target — which implies more than 17% upside from Tuesday's close.
Persons: Morgan Stanley, Guggenheim, John DiFucci, there's, Brian Evans, Cantor Fitzgerald downgrades, Myers Squibb Cantor Fitzgerald, We've, Olivia Brayer, Myers Squibb, — Brian Evans, Julien Dumoulin, Smith, Wells, Omar Mejias, Mark Strouse, DraftKings, Stephen Grambling, Grambling, Fred Imbert, millennials, Z, Gen, Terry Ma Organizations: CNBC, Barclays, American Express, Guggenheim, FactSet, Myers Squibb, Bank of America, Wells Fargo, Warner Music Group, accel, JPMorgan, American Locations: Bristol, Generac, Europe, CSIQ
Ceng Shou Yi | Nurphoto | Getty ImagesApple iPhone supplier Foxconn, officially known as Hon Hai, on Tuesday reported third-quarter profit rose 11.27% from a year ago, beating analysts' expectations despite an ongoing consumer electronics slump. Foxconn reported a NT$38.75 billion net profit in the same period a year ago. watch now"Volumes declined year-on-year largely due to slower than expected recovery in consumer demand. Research firm Canalys said last week that the global smartphone market is seeing a slowdown in its decline. The ongoing electronics slump has badly impacted the global smartphone market.
Persons: Hai Group's, Ceng Shou Yi, Hai, Foxconn, Canalys, Amber Liu, Liu Organizations: Getty, Apple, Hai Technology Group, Counterpoint Research, Research, Huawei Locations: Taipei, Taiwan, Mainland China
Here are Friday biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by Apple shares after its earnings report on Thursday. Berenberg downgrades Estee Lauder to hold from buy Berenberg downgraded the stock after its disappointing earnings report earlier this week. Morgan Stanley reiterates Carvana as underweight Morgan Stanley said it's sticking with its underweight rating on the stock after its earnings report on Thursday. " Evercore ISI downgrades Fortinet to in line from outperform Evercore downgraded the cybersecurity company after its earnings report. JPMorgan reiterates Starbucks as overweight JPMorgan said the coffee giant is "still one to buy" after its earnings report on Thursday. "
Persons: Morgan Stanley, Apple, it's, downgrades Estee Lauder, Estée Lauder, Piper Sandler, Piper, OMCL, Key, Wolfe, Mizuho, C27E, JPMorgan downgrades, Papa John's, PZZA, Raymond James, Carvana, CVNA, Redburn, JPMorgan, SBUX, Guggenheim, GNRC Organizations: Apple, DOJ, Uber, Deutsche Bank, Molson Coors, Deutsche, HSBC, Moderna, Nvidia, Mizuho, JPMorgan, JPMorgan downgrades Fox, FOX, Barclays, Retail, Evercore, billings, Guggenheim, Citi, Cedar, Flags, ~$
Here are some of the other stocks in Goldman's conviction list. Aside from TSMC, Goldman's conviction list stocks in this category include Chinese tech giant Hon Hai Precision Industry and Japanese electronics manufacturing company Ibiden . AI-empowered names The bank's conviction list stocks in this category include Chinese machine industry player Envicool , Japanese video game publisher Bandai Namco Entertainment and industrial equipment company Keyence . Goldman has an 83,000 yen price target on Keyence, giving it an upside of 56.7%. Stocks that are both Goldman named Chinese tech giants Alibaba and Baidu as its conviction list stocks that are both in the business of enabling and empowering AI.
Persons: Goldman Sachs, Daiki Takayama, TSMC, Goldman, Hai —, Envicool, Alibaba, — CNBC's Michael Bloom, Sheila Chiang Organizations: Taiwanese Semiconductor Manufacturing Company, New, Companies, Precision Industry, Bandai Namco Entertainment, Bandai Namco, Baidu, Alibaba Locations: Asia, New Taiwan
Wells Fargo upgrades Gap to overweight from equal weight Wells said the turnaround is taking shape for Gap. Deutsche Bank upgrades Livent to buy from hold Deutsche said it sees an attractive entry point for the lithium company. Bank of America downgrades TransUnion to underperform from buy Bank of America double downgraded the stock due to concerns about consumer lending. Bank of America initiates Syndax as buy Bank of America said it sees upside for the pharmaceutical company. Monness, Crespi, Hardt & Co. downgrades Alphabet to neutral from buy Monness said it's concerned about regulatory headwinds.
Persons: TD Cowen, Freyr, FREY, Goldman Sachs, Goldman, it's, We're, Wells, Needham, Etsy, Piper Sandler, Piper, TRU, SocGen, Bernstein, Deutsche Bank downgrades Corning, 2H24, Jefferies, Monness, Crespi, Hardt, Piper Sandler downgrades Livent Organizations: EV, Apple, BMO, Bank of America, Microsoft, GPS, Alto Networks, Deutsche Bank, Deutsche, Citi, TAM, Barclays, Verizon, Piper Sandler downgrades Regions, Citizens Financial, RF, " Bank of America, Farfetch, Machinery, UBS, Nvidia, Veeva, Commercial, Syndax Pharmaceuticals Locations: EVgo, Cybersecurity, Corning, Albemarle, LTHM
Just like the cloud transformed every software category, we think AI is one such transformational shift. Therefore, this notion of Copilots that we're introducing is really going to be revolutionary in terms of driving productivity and communication. Milton Friedman once famously said: "the business of business is business." One is, is the business of business just business? So, I think AI can actually be very helpful in many ways to be a little more empathetic and more understanding of the world.
Persons: Satya Nadella, Axel Springer's, OpenAI, Nadella, Axel Springer, , Mathias Döpfner, Pankaj Nangia, Steve Ballmer, Steve, I've, It's, I'd, Herbert Simon, Karl Marx, Lakshmi, Hayek, Marx, Justin Sullivan, Carol Dweck, they're, Vuk Valcic, That's, it's, you've, Jae, Copilot, Jeff Bezos, I'm, We've, Milton Friedman, Elon Musk, we've, Lina Khan, Sam Altman, Sam, Tomohiro Ohsumi, Bard, Bing, Mathias, wouldn't, Picasso, Jakub Porzycki, Mustafa Suleyman, We'll Organizations: Service, Microsoft, Olympic, Australia, Getty, Activision Blizzard, Gaming, AP, Windows, Linux, Children's Hospital, University of Wisconsin, Associated Press, Google Locations: Berlin, India, Hyderabad, Seattle, United States, Milwaukee, American, China, derisking, DC, Beijing, Europe, GitHub, British
Taiwan Semiconductor Manufacturing Company reported a third-quarter profit of 211 billion New Taiwan dollars ($6.69 billion) on Thursday as weak demand for consumer electronics persists. While that was the second straight quarter of profit declines, the world's largest contract chipmaker bested analyst expectations. That compares with TSMC's guidance for third-quarter revenue between $16.7 billion and $17.5 billion. The chip giant said that revenue increased 13.7% in the third quarter as compared to the second quarter. In the second quarter, the Taiwanese firm reported a decline in quarterly profit for the first time in four years due to a post-pandemic plunge in the demand for consumer electronics like smartphones and laptops.
Persons: chipmaker Organizations: Taiwan Semiconductor Manufacturing Company Locations: Taiwan
Goldman Sachs reiterates Amazon as buy Goldman Sachs said it's standing by its buy rating ahead of earnings later this month. Citi reiterates Netflix as buy Citi said it's standing by its buy rating on the stock heading into earnings next week. Bank of America reiterates Ford as buy Bank of America said its standing by its buy rating on the stock despite the strike at Ford's largest truck plant. Bank of America upgrades Target to buy from neutral Bank of America said it sees an attractive risk/reward for Target shares. " RBC downgrades ResMed to sector perform from outperform RBC said in its downgrade of ResMed that it sees slowing earnings growth.
Persons: Warby Parker, BTIG, Goldman Sachs, Morgan Stanley, it's, JPMorgan, Bernstein, underperform Bernstein, CLX, Ford, Wells, Wells Fargo, Truist, it's bullish, D.A, Davidson Organizations: Citi, Netflix, 4Q23, Barclays, Spotify, Taiwan Semiconductor, JPMorgan, RBC, BMO, Bank of America, Ford's, UAW, Detroit, underperform Bank of America, 3Q, Microsoft, " Bank of America, of America, Exxon Mobil, Exxon, Pioneer, Seaport, Mizuho Locations: 2H24
Semiconductors are looking undervalued, thanks to the selloff in some parts of the sector, according to Morningstar. That's even more undervalued than the wider tech sector, which it believes is 5% undervalued. Morningstar noted such stocks have sold off a little in September, especially in analog and mixed signal names — two types of chips in the semiconductor industry — and even in artificial intelligence chipmakers. Outside the AI sector, the firm also likes autos, expecting more chips to be used in cars, especially electric vehicles, in the years to come. That will enable the company to achieve high single-digit long term revenue growth, Morningstar said.
Persons: Morningstar, Brian Colello, Jack Keegan, it's Organizations: Nvidia, Infineon Technologies, NXP Semiconductors, Qualcomm, Morningstar, Skyworks Locations: Taiwan
UBS initiates Fiverr as buy UBS said the Israeli online marketplace company has "significant upside." UBS upgrades Fluor to buy from hold UBS said the construction and engineering stock is underappreciated. Bank of America upgrades Orange to buy from underperform Bank of America double upgraded the European telco company and says it has upside potential. Bank of America reiterates Blackrock as buy Bank of America said the asset management company is well positioned. Mizuho reiterates Nvidia as buy Mizuho added the stock to its top picks list and says it's an AI winner.
Persons: Morgan Stanley, Tesla, it's, underappreciate FLR, TD Cowen, Key, Goldman Sachs, Goldman, Oppenheimer, Mizuho, Coinbase, Bernstein, PTON Organizations: US, UBS, Americas Corp, Bank of America, underperform Bank of America, Tech, of America, Apple, JPMorgan, Netflix, ARM, " Bank of America, Blackrock, Nvidia, Mizuho, NOVA Locations: Argentina, Argentine, Orange, 3Q23, 4Q23
“It is also important equipment for our naval forces in developing asymmetric warfare strategies.”“In the past, many people thought building an indigenous submarine would be an impossible task. Taiwan's president gives a speech at the launch ceremony of Taiwan's first domestically built submarine, in Kaohsiung on September 28. Tsai said the indigenous submarine project was “a top priority” of her administration. Video Ad Feedback Taiwan's military is preparing in case China attacks. But Taiwan’s indigenous military procurement program remains a lynchpin of its defense strategy, particularly when it comes to systems like anti-ship missiles that could defend against a potential invasion.
Persons: Tsai Ing, Kun, ” Tsai, , Tsai, Taiwan's, Eric Cheung, Sandra Oudkirk, Washington’s, Admiral Huang Shu, kuang, Huang, ” Huang, Collin Koh, , Admiral Huang, Joe Biden, Donald Trump, Xi Jinping, Nancy Pelosi, Lee Teng Organizations: Taiwan CNN, Taiwan, CNN, National Security Council, Rajaratnam, of International Studies, PLA Navy, Party, US Pacific Fleet Locations: Kaohsiung, Taiwan, Taipei, Beijing, China, , Philippines, Japan, Singapore, Philippine, United States, Taiwan Strait, South Korea, India
Larry Ellison, the co-founder, chairman and chief technology officer of Oracle , has been going up against Microsoft to in database software for more than 30 years. He has also had to deal with clients looking to connect their Oracle and Microsoft products. Putting the Oracle equipment in Azure data centers means that applications will be able to quickly access data from the databases. Nadella said the new collaboration might help companies more quickly move their workloads from their existing data centers to the public cloud. But Ellison controls 42% of Oracle's outstanding shares, while Gates owns just over 1% of Microsoft stock, according to FactSet.
Persons: Larry Ellison, Bill Gates, Monfils of, Alexander Zverev of, Satya Nadella, Ellison, It's, Nadella, haven't, Paul Allen, Gates, McNamee Organizations: Oracle, Microsoft Co, BNP, Microsoft, Bing, Sun Microsystems, Windows, U.S . Justice Department, Bloomberg, Partners Locations: Alexander Zverev of Germany, Indian Wells, Calif, Seattle, Redmond, Washington
Here are the biggest calls on Wall Street on Thursday: Bank of America downgrades J.M. "Our prior Buy rating was based on the view that SJM would focus on a more optimized portfolio of core brands, following several years of divestitures of low growth/margin assets. Bank of America reiterates Alphabet as buy Bank of America said it's standing by its buy rating on the stock due to "AI innovation & potentially lower expenses." Bank of America reiterates Blackrock as buy Bank of America said the company is the "leading platform for investing & tech solutions." Goldman Sachs reiterates FedEx as buy Goldman said it's standing by its buy rating heading into earnings next week.
Persons: Morgan Stanley, Wells, JPM, PENN, VIRT, William Blair, Jefferies, MET's, Semtech, Wolfe, TD Cowen, Redburn, BLK, Goldman Sachs, Goldman Organizations: Bank of America, Amazon, Nvidia, NVIDIA, JPMorgan, Apple, Wave7 Research, Deutsche Bank, Penn Deutsche, Penn, Citi, Google, BMO, Jefferies, MetLife, Susquehanna, Blackrock, FedEx
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