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☆ What investors should look for as Meta, Microsoft report earnings Wednesday
▼ + stars: | 2024-10-30 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Another busy day of megacap technology earnings kicks off Wednesday with results from Meta Platforms and Microsoft after the bell. Wall Street expects Meta Platforms to post third-quarter earnings of $5.25 per share, up from $4.39 a year ago, per LSEG. For Microsoft, EPS and revenue are expected to reach $3.10 and $64.51 billion, respectively, for the fiscal first quarter . Meta Platforms For Meta Platforms, analysts are hunting for signs that AI is continuing to boost the company's core product and advertising spending. Microsoft Microsoft faces a tougher bar headed into the print, with many analysts leaning toward caution as the company lags some of its megacap peers and underperforms the Nasdaq Composite.

Persons: haven't, Davidson, Gil Luria, Citi's Ronald Josey, Citi's Josey, Mark Mahaney, Barton Crockett, Mark Shmulik, Bank of America's Justin Post, Keith Bachman, Citi's Tyler Radke, Morgan Stanley's Keith Weiss, Weiss, Goldman Sachs, Kash Rangan, Azure's Organizations: Meta, Microsoft, D.A, Revenue, Google, Bank of America's, Microsoft Microsoft, Nasdaq, BMO Capital Markets, BMO

☆ Microsoft is still spending massively on AI
▼ + stars: | 2024-10-30 | by ( Tim Paradis | ) www.businessinsider.com time to read: +4 min

Investors have been focused on Big Tech AI spending and returns. That's a worry at Microsoft partly because feedback on the company's Copilot AI has been mixed. Others have been concerned that Big Tech spending on artificial intelligence is outpacing results. Goldman said Microsoft has been counting on its AI Copilot and other generative AI efforts at Windows, Edge, and Microsoft 365 to draw enterprise clients. AdvertisementMuch of Microsoft's spending has been going toward data centers, graphics processing units, and other AI projects.

Persons: —, Jeremy Goldman, Goldman, it's, Satya Nadella, Francine McKenna Organizations: Investors, Big Tech, Service, Microsoft, Apple, Windows, Bloomberg Locations: Redmond, Washington, OpenAI

☆ Google 'moving in a good direction': What analysts are saying after tech giant's strong earnings
▼ + stars: | 2024-10-30 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Major Wall Street banks remain bullish on Alphabet following the tech titan's strong third-quarter results . On Tuesday, Google's parent company reported earnings of $2.12 per share, while analysts polled by LSEG had predicted $1.85 per share. The company's revenue grew 15% year over year to $88.27 billion, more than the same quarter last year and the $86.30 billion analysts had anticipated. "We think shares could remain choppy as we work through the Search remedies, given the large impact zone, but performance in 3Q was solid." Meanwhile, Goldman Sachs' Eric Sheridan also commended the firm for its strong investment cycle, which includes investments into Google's Cloud infrastructure and more AI deployment through its application ecosystem.

Persons: LSEG, Goldman Sachs, Morgan Stanley, Ross Sandler, Doug Anmuth, Eric Sheridan Organizations: Barclays, Citi, JPMorgan, Bank of America, of America, Google, DOJ

☆ Meta's stock drop tells the wrong story on earnings — so, we're boosting our price target
▼ + stars: | 2024-10-30 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Don't let the after-hours stock action fool you, Meta Platforms delivered one heck of a strong third quarter and a current quarter revenue guide above expectations. Ok, now that the "bad" is out of the way, let's look at what investors should really be focused on as they consider what to do with Meta stock. Meta Platforms Why we own it : We value Meta Platforms for its targeted advertising dominance. Notably, Meta AI, the company's version of a ChatGPT-type generative artificial intelligence search/answer engine, now has over 500 million monthly active users. Looking ahead to 2025, the team noted on the release, "We continue to expect significant capital expenditures growth in 2025.

Persons: biggie, that's, China's ByteDance, Mark Zuckerberg, Jensen Huang, Zuckerberg, we're, Meta, it's, haven't, Jim Cramer's, Jim Cramer, Jim, Andrej Sokolow Organizations: LSEG, Meta, People, Management, China's, Reality Labs, Nvidia, ., Facebook, CNBC, Getty Locations: Ray, capex

☆ Big Tech earnings drop this week. Here's what Wall Street is watching.
▼ + stars: | 2024-10-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +3 min

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 . Big Tech earnings start today, with roughly $12 trillion in market cap reporting over three days. Mark Zuckerberg hasn't shied away from saying his company will keep spending big on AI, and the market hasn't minded. Judging by Meta Connect 2024 and its CTO's comments , the tech giant wants to own the market for AI-powered wearables.

Persons: —, We'll, Insider's Kelly Cloonan, We're, Mark Zuckerberg hasn't, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Traders, Big Tech, Google, Nvidia, Meta, Microsoft, AWS, Apple, Apple Intelligence Locations: China, New York, London

☆ Here's what analysts are looking for when Google parent Alphabet reports earnings
▼ + stars: | 2024-10-29 | by ( Pia Singh | In | ) www.cnbc.com time to read: +4 min

Several analysts maintained their buy ratings ahead of the results and expect AI-driven gains to appear in its search and YouTube segments. Still, the consensus revenue estimate implies Alphabet could post its slowest year-over-year growth since the third quarter of 2023 . Analysts polled by LSEG expect Alphabet to earn $1.85 per share on $86.3 billion in revenue, implying year-over-year earnings and revenue growth of 19.1% and 12.5%, respectively. Like Sheridan, Black expects Alphabet's AI enhancements to support search and YouTube growth, as AI drives efficiency for advertisers. "While advertisers may express some concerns around consumer sentiment, GOOG Search remains a 'utility-like' component of advertiser budgets," he said.

Persons: Brent Thill, Thill, Goldman Sachs, Eric Sheridan, Sheridan, Benjamin Black, Black Organizations: Google, LSEG, FactSet, Citi Research, Jefferies, CNBC, Deutsche Bank Locations: Monday's

☆ Why this ‘Magnificent 7’ stock is still a buy even though it’s behind on AI
▼ + stars: | 2024-10-28 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

What's more, the enormous Amazon Web Services cloud services business effectively allows Amazon the leeway to figure out the best path forward in terms of applying AI to the rest of its businesses. At the same time, Amazon's Prime Video platform presents a formidable opponent against Netflix . Wang also said Amazon's Prime membership rolls could benefit from the upcoming holiday shopping season. So Amazon has a little bit of time to get their AI story right," he said. Wang added that investors can expect more insight into Amazon's investments during its December re:Invent conference.

Persons: Ray Wang's, Wang, Amazon's Organizations: Constellation Research, Amazon, Netflix, Microsoft, Google

☆ Morgan Stanley says these tech stocks are table-pounding buys ahead of earnings
▼ + stars: | 2024-10-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

A slate of overweight-rated tech stocks are worth buying ahead of earnings, Morgan Stanley said. Microsoft Morgan Stanley analyst Keith Weiss is sticking with the tech giant ahead of earnings. Indeed, Microsoft shares are up nearly 14% in 2024, but the firm said the stock is too attractive to ignore at current levels. Apple The firm is also standing by its top pick Apple ahead of quarterly earnings on Oct. 31, despite reports of mixed iPhone 16 demand. "We expect Apple to post a strong Sept Q top- and bottom-line beat," he added.

Persons: Morgan Stanley, Microsoft Morgan Stanley, Keith Weiss, GenAI monetization, Weiss, Atlassian Weiss, Erik Woodring, Woodring, billings Organizations: CNBC, Fortinet, Microsoft, Apple, Gross, TEAM, Apple Intelligence, … Locations: …

☆ The world's most accurate economist predicts the election outcome and its potential shock impact on the 10-year Treasury
▼ + stars: | 2024-10-26 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Right now, he has his sights set on the US election, with its high stakes and wide range of economic possibilities. AdvertisementThe third scenario is a Trump win with a Republican sweep, which Barraud believes is the most likely outcome. In the short term, it would have a positive impact on US economic growth, creating a GDP boost in 2025 between 2.1% and 2.3%, he said. If Harris wins with a dividend Congress, yields could drop further from where they are, he said. This time, election forecasting includes monitoring multiple poll-betting markets with the highest volume of users to gauge election outcomes.

Persons: Christophe Barraud, —, Barraud, Kamala Harris, Donald Trump, Trump, there's, Harris Organizations: Service, Bloomberg, Market Securities Monaco, Trump, Republican Locations: Washington

☆ The power sector is 'transforming,' Morgan Stanley says, naming global stocks set to rise 40%
▼ + stars: | 2024-10-25 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

The electricity industry is transforming, according to Morgan Stanley, and multiple power producers, grid operators and utilities are set to benefit. "Global power markets have surprised on multiple fronts, and investors are navigating a new normal in the power value chain," they added. Morgan Stanley's analysts named three overweight-rated global stocks in the electricity sector which they give more than 40% potential upside. RWE RWE : Morgan Stanley notes that the German power giant, which generates and trades electricity, is exposed to "tight electricity markets rewarding flexibility + value creation in renewables in Europe & US." AES Corp. AES Corp.: Morgan Stanley highlighted the company's "expanding renewable portfolio" as a theme to watch.

Persons: Morgan Stanley, Morgan, RWE, — CNBC's Michael Bloom Organizations: Frankfurt Stock Exchange, American Depository, AES Corp, U.S, Global X FTSE, Asia, Malaysian Locations: Asia, Europe, U.S, Nasional Tenaga Nasional, Malaysian, Bursa Malaysia, Malaysia

☆ Defensive stocks offer solid dividend yields. Bank of America likes these names
▼ + stars: | 2024-10-23 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

The natural gas liquids midstream space is "relatively defensive," she added. Here are a few of the stocks that Salisbury's team highlighted with buy recommendations. "Even in softening oil environment, still surprisingly cheap compared to how much cash could be paid out if capex/acquisitions ever slow even a little bit," Salisbury's team noted. Finally, Bank of America called out Kinder Morgan , saying it is among the "key beneficiaries of long-term U.S. gas demand inflection in 2025." As gas demand rises, Bank of America sees a positive catalyst for brownfield gas pipelines — as in, pipelines that are already part of an existing facility, rather than those that are newly built.

Persons: Jean Ann Salisbury, Kinder Morgan Organizations: Bank of America, Enterprise Products Partners, Bank of, Enterprise, Enterprise Products, Williams Locations: Lake Charles , Louisiana, Arizona, East Coast, Pacific

☆ D.E. Shaw, Mantle Ridge zero in on key fixes to build shareholder value at Air Products
▼ + stars: | 2024-10-19 | by ( Kenneth Squire | ) www.cnbc.com time to read: +12 min

Air Products provides industrial gases and related equipment in end-markets such as refining, chemicals, metals, electronics, manufacturing and food. These long-term contracts functionally guarantee an unlevered double-digit return before Air Products even needs to put a dollar into the ground. Investors appreciate companies like Air Products for their low-risk and highly stable cash-flowing operations. On Oct. 4, Mantle Ridge announced a more than $1 billion position in Air Products, and echoed a similar sentiment and identified similar issues as D.E. We strongly expect that many of Air Products' other shareholders are concerned about the same issue.

Persons: It's, Shaw, unadulterated, Praxair, Seifi, Linde, D.E, Seifi Ghasemi, Ghasemi, Samir Serhan, Mantle, Paul Hilal, Scott Sutton, Olin, Russell, Ken Squire Organizations: Air Products, Chemicals, Air Liquide, Linde, Products, Air, D.E, Technologies, Fidelity National Information Services, FedEx, Verisk, Healthcare Trust, 13D Locations: Saudi Arabia, Louisiana, Texas, D.E, Air

☆ The hyperscalers revenue will come just slowly, says Alger’s Ankur Crawford
▼ + stars: | 2024-10-16 | 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 EmailThe hyperscalers revenue will come just slowly, says Alger’s Ankur CrawfordJPMorgan’s Gabriela Santos and Alger’s Ankur Crawford, join 'Closing Bell' to discuss markets, CapEx and earnings.

Persons: Alger’s Ankur Crawford JPMorgan’s Gabriela Santos, Alger’s Ankur Crawford

☆ Watch CNBC’s full interview with JPMorgan’s Gabriela Santos and Alger’s Ankur Crawford
▼ + stars: | 2024-10-16 | 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 EmailWatch CNBC’s full interview with JPMorgan’s Gabriela Santos and Alger’s Ankur CrawfordJPMorgan’s Gabriela Santos and Alger’s Ankur Crawford, join 'Closing Bell' to discuss markets, CapEx and earnings.

Persons: JPMorgan’s Gabriela Santos, Alger’s Ankur Crawford JPMorgan’s Gabriela Santos, Alger’s Ankur Crawford

☆ Walgreens says it will close 1,200 stores by 2027, as earnings top estimates
▼ + stars: | 2024-10-15 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

A person rides past a Walgreens truck, owned by the Walgreens Boots Alliance, in Manhattan, New York City, on Nov. 26, 2021. The retail drugstore chain also said it plans to close roughly 1,200 stores over the next three years, which includes 500 in fiscal 2025 alone. The company said those closures will be "immediately accretive" to its adjusted earnings and free cash flow. In June, Walgreens said it intends to close a "significant" number of its underperforming stores by 2027. Walgreens anticipates adjusted earnings per share of $1.40 to $1.80 in the coming fiscal year.

Persons: Tim Wentworth Organizations: Walgreens, Walgreens Boots Alliance, LSEG, Wall Street Locations: Manhattan , New York City, U.S

The vast majority of analysts surveyed by FactSet hold a strong buy or buy rating on the stock. Despite its recent slowdown, analysts surveyed by FactSet have a consensus buy rating on the dominant e-commerce platform. Bullish voices on the stock include Goldman Sachs analyst Eric Sheridan, who recently reiterated a buy rating and $230 price target. JPMorgan's Anmuth is similarly positive on Amazon ahead of earnings, rating the stock overweight and saying it remains the favorite in the bank's firm's internet sector coverage. The consensus FactSet rating on Meta is buy, with an average price target of $604, suggesting just 2.3% potential upside.

Persons: Roundhill, —, selloff, Goldman Sachs, Kash Rangan, Nvidia's Blackwell, Brad Zelnick, Amit Daryanani, Daryanani, Apple's wearables, qtr, Tim Cook's, you'd, Morgan Stanley, Jensen, Blackwell, Biden, Tesla, enthusiam, Elon, Wells, Colin Langan, Department's, Doug Anmuth, Bank of America's Justin Post, Eric Sheridan, Sheridan, Goldman, Anmuth, Baird, Roth MKM, JPMorgan's Anmuth, Goldman's Sheridan, Meta's, — CNBC's Michael Bloom Organizations: Apple, Microsoft, Nvidia, Tesla, CNBC, Windows, Investment, Deutsche Bank, Justice Department, Blackwell, Bloomberg, Ford, General Motors, EV, Google, FactSet, Bank of America's, ISI, Walmart, Costco, eBay, Meta, Ray, Labs, Facebook, Temu, Goldman Locations: China, FactSet, ., Downside, U.S, Wells Fargo, American, Meta's Asia, Pacific

☆ Nvidia stock tests record highs as Wall Street defends chipmaker's valuation amid 'AI arms race'
▼ + stars: | 2024-10-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Nvidia stock surged over 3% to near-record highs on Monday as excitement builds for its Blackwell GPU. Bank of America said cloud hyperscalers are in an "AI arms race," which should be a positive for Nvidia. AdvertisementNvidia stock jumped more than 3% on Monday to near-record highs as investor excitement around the chipmaker's upcoming Blackwell GPU product cycle grows. Monday's gain came amid a wave of Wall Street research reports on Nvidia, along with pricing details for Nvidia's next-generation GPU chip. AdvertisementThe initial list prices for Nvidia's Blackwell GPU chip were around $500,000, which Wells Fargo called an "incremental positive" in a note on Monday.

Persons: Blackwell, —, Nvidia's, Wells, Aaron Rakers, Goldman Sachs Organizations: Nvidia, Blackwell, Bank of America, Service, Citi, Monday's, Nvidia's Blackwell, Microsoft, hyperscalers, Investors

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Netflix, FedEx, Reddit, Broadcom, Chewy & more
▼ + stars: | 2024-10-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street: Citi initiates FedEx and UPS as buy Citi said in its initiation note that FedEx and UPS are well positioned. "Netflix remains a compelling growth story with significant room for revenue, earnings, and FCF growth over the next several years." Wells Fargo upgrades Valero to overweight from equal weight Wells said the company is one of the "best independent refiners." Mizuho reiterates Nvidia and Broadcom as outperform Mizuho said it's sticking with its outperform ratings on Nvidia and Broadcom. Wells Fargo reiterates Roblox as overweight Wells Fargo raised its price target on Roblox ahead of earnings in late October to $54 per share from $46.

Persons: underperform Jefferies, Guggenheim, TD Cowen, Cowen, Morgan Stanley, it's bullish, Piper Sandler downgrades Blackstone, Piper, Piper Sandler, Wells, Jefferies, Wolfe, VALE, Chewy, it's, Mizuho, Wells Fargo, Evercore Organizations: Citi, FedEx, UPS, Jefferies, Southwest, Deutsche Bank, Netflix, Deutsche, Inc, MetLife, Barclays, Apple, Apple Intelligence, New York Times, Industry, Nvidia, Broadcom, Mizuho, Lowe's Locations: Valero, underperform, Underperform

☆ One of Wall Street's biggest bears is turning upbeat on the stock market for the first time in 2 years
▼ + stars: | 2024-10-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

JPMorgan's top strategist had something positive to say about stocks for the first time in a while. "While it is too soon to assume that this is a turning point, it does suggest that a recession is unlikely in the near term." Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But that seems to be changing, based on a Tuesday note from JPMorgan chief global equity strategist Dubravko Lakos-Bujas. "We are neutralizing our long Defensive and short Cyclicals view," Lakos-Bujas said.

Persons: Dubravko Lakos, Bujas, — Organizations: JPMorgan, Service, Reserve, Federal Reserve, & $ Locations: China, buybacks

☆ Nvidia shares to remain stuck for the rest of the year, says Citi
▼ + stars: | 2024-10-08 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Citi is expecting Nvidia 's margins to bottom out early next year as its Blackwell platform will take time to fully ramp up. "Fundamentally, we believe AI adoption remains in 3rd/4th innings as enterprise AI demand takes off next with AI agents." Nvidia is expected to ramp up Blackwell production in the fourth quarter of this year, with production continuing into fiscal 2026. But long-term, Nvidia has a strong investment case, according to the analyst. "We expect to see positive ROI data points next year led by GPU as a service providers," he said.

Persons: Blackwell, Atif Malik, Malik Organizations: Citi, Nvidia, CES, Blackwell, GPU

☆ A new Blue Origin: CEO Dave Limp is bringing urgency and ‘decisiveness’ to Jeff Bezos’ space company
▼ + stars: | 2024-10-05 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +11 min

Blue Origin CEO Dave Limp, left, and founder Jeff Bezos look up at a New Glenn rocket on at the company's LC-36 facility in Florida. Blue OriginDave Limp had only one question for Jeff Bezos when he interviewed last year to become CEO of Blue Origin, the billionaire's space venture. "Jeff felt that [Blue Origin] needed manufacturing expertise; it needed decisiveness; it need a little bit of energy," Limp said. CEO Dave Limp, third from the left, with Blue Origin employees at the company's New Glenn facility in Florida. In the mission's place, Blue Origin will fly a demonstration of its spacecraft Blue Ring on the first New Glenn launch.

Persons: Dave Limp, Jeff Bezos, Jeff, Limp, Bezos, It's, I'm, New Glenn, Allen Parker, Jennifer Pena, Leanos, Ian Richardson, Tim Collins, it's, Origin's, ULA, Paul Hennessy, Glenn, We've, Starliner, Shepard, Blue, let's Organizations: Glenn, Florida ., Amazon, CNBC, Blue, SpaceX, United Launch Alliance, Lab, Firefly Aerospace, Company, NASA, Amazon Devices, Flexport, Vulcan, Cape Canaveral Space Force, Anadolu, Getty, New Glenn, Falcon, Shepard, National Security, Washington , D.C Locations: Florida, New, Mars, Seattle, Kent , Washington, Texas , Florida, Alabama, ULA, West Texas, Cape Canaveral , Florida, Glenn, Washington ,, Huntsville , Alabama, Cape Canaveral , Texas

☆ Short ideas: Here are the stocks JPMorgan is betting against in the fourth quarter
▼ + stars: | 2024-10-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Despite the major indexes trading near their all-time highs, there are still plenty of stocks that JPMorgan is bearish on in the coming quarter. Against this backdrop, JPMorgan surveyed its analysts for their top short ideas, or stocks that might underperform going into the fourth quarter. Shares have risen 9% in 2024, leading to what JPMorgan analyst Michael Rehaut believes is an expensive valuation. JPMorgan analyst Kenneth Goldman also has an underweight rating on Beyond Meat . "Plant-based meat continues to struggle as the fad fades," the analyst wrote.

Persons: Stocks, Stanley Black, Decker, Michael Rehaut, Kenneth Goldman, Stephen Tusa, Mark Strouse Organizations: JPMorgan, Federal, Traders, Rockwell Automation, ROK, FuelCell Energy Locations: —, underinvestment

☆ OpenAI has secured a $157 billion valuation. Now comes the hard part.
▼ + stars: | 2024-10-03 | by ( Hasan Chowdhury | Riddhi Kanetkar | ) www.businessinsider.com time to read: +7 min

OpenAI is now worth $157 billion, but it can't rest easy yet. Now comes the hard part: emerging victorious in a fiercely competitive AI industry. Though Sam Altman's company cemented its status as a frontrunner in the generative AI boom this week, securing a new $157 billion valuation after raising $6.6 billion of fresh capital from marquee investors, its leading position is hardly guaranteed. Sure, Altman's company now casts a massive shadow over the industry with its fresh $157 billion valuation. AI companies have been spending huge sums to purchase chips from Jensen Huang's Nvidia.

Persons: OpenAI, —, Sam Altman's, Sam Altman, Andrew Caballero, Reynolds, Altman, Elon Musk's, Ilya Sutskever, Nathan Benaich, Dario Amodei, Jensen, Jeff Chiu, Benaich, it's, VCs Organizations: Service, Valley's, Financial, Nvidia, SoftBank, Microsoft, Elon, Air Street Capital, The New York Times, Google, Big Tech, Meta Locations: Silicon Valley, AFP

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Tesla, Nike, Meta, Alphabet, Rio Tinto & more
▼ + stars: | 2024-10-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan upgrades Parr Pacific to overweight from neutral JPMorgan said the gas exploration and production company has overcorrected. JPMorgan downgrades MercadoLibre to neutral from overweight JPMorgan downgraded the online Latin American marketplace mainly due to valuation. Wells Fargo reiterates Meta as overweight Wells Fargo raised its price target on Meta to $652 per share from $647. JPMorgan upgrades SAIC to overweight from neutral The firm says it sees "profitable growth" for the IT company. Berenberg upgrades Rio Tinto to buy from hold Berenberg says the metals and mining company is a "medium-term diversified winner."

Persons: Roth, DA Davidson, Davidson, PARR, Wolfe, Raymond James downgrades, Raymond James, Guggenheim, Mizuho, it's bullish, tailwinds, Wells, Wells Fargo, Canaccord, Tesla, Berenberg, Baird downgrades Harley, Baird, Harley, Gordon, FANG, Bernstein Organizations: Iren Energy, Industries, JPMorgan, Parr, Northland, TAM, Raymond James downgrades GE, GE, Deutsche Bank, Nike, Absci Corporation, Mizuho, Kodiak, Kodiak Gas Services, Meta, SAIC, IT, Tesla, Mobile, T Bank, Buffalo, Rio Tinto, BHP, Home Depot, Barclays, Diamondback Energy, Nvidia, Apple Locations: OW, Asia, Vegas, Northland, Salesforce, Rio, American

☆ A 'Roaring '20s' economy is becoming more likely as bullish factors stack up, UBS says
▼ + stars: | 2024-09-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

UBS predicts a "Roaring '20s" economy, assigning a 50% chance to such an expansion by 2030. Solid data revisions, along with Fed rate cuts, support the optimistic outlook. "It's no longer too soon nor too optimistic to suggest that the US will experience a Roaring '20s economy," UBS said. AdvertisementA slew of bullish factors suggest the economy could be headed towards "Roaring '20s" status, according to a Monday note from UBS. Advertisement"The bread crumbs suggest a policy reaction function that is directionally supportive of a Roaring '20s outcome," Draho said of the Fed Chairman Jerome Powell's full employment goals.

Persons: —, UBS's, Jason Draho, Draho, Jerome Powell's Organizations: UBS, Service, Treasury, Atlanta, CPI

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