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☆ Morgan Stanley says this battery stock is worth buying and can rally more than 70%
▼ + stars: | 2023-06-29 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Freyr could see monster gains over the next 12 months after a slow start to 2023, according to Morgan Stanley. Analyst Adam Jonas upgraded the battery stock to overweight from equal weight. "We see next 3-6 months as a catalyst window for unlocking shareholder value," Jonas said in a Wednesday note. "In our opinion, FREY is a relatively binary investment opportunity that we believe can show meaningful progress on commercial milestones." Freyr will start reporting key production metrics including uptime to show its operating capabilities.

Persons: Freyr, Morgan Stanley, Adam Jonas, Jonas, FREY, FREYR, — CNBC's Michael Bloom Organizations: Sunwoda Mobility Energy Locations: Wednesday's, Norway

☆ Asia pushes back on 'excessive' currency moves amid enduring dollar strength
▼ + stars: | 2023-06-29 | by ( Clement Tan | ) www.cnbc.com time to read: +5 min

Japan finance officials have warned all this week against the "excessive" depreciation of the Japanese yen . Contrasting moves in the world's major currencies — including the Japanese yen, the Chinese yuan and the U.S. dollar — underscore the variance in domestic interest rates and monetary cycles. Authorities may be buying the Japanese yen "with the rise in USD/JPY set to run further," she added. The Japanese currency was hovering at about 144 against the greenback in Asia trade on Thursday. The central bank allows the currency to trade within a narrow band of 2% from each day's midpoint.

Persons: Sheldon Cooper, Carol Kong, Masato Kanda, Shunichi Suzuki, Philip Wee, Adnan Zaylani, BNM, Goldman Sachs Organizations: People's Bank of, Getty, U.S ., U.S, Commonwealth Bank of Australia, Ministry, Bank of Japan's, Reuters, Finance, DBS, greenback, Japan's Finance, Bank Negara Malaysia, Central Bank Locations: People's Bank of China, Asia, Japan, China, Covid, Ukraine, Malaysian, U.S . Federal, Bank

☆ Like getting price tracking alerts from your online broker? Here's why you should be careful
▼ + stars: | 2023-06-29 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

You know all those price tracking alerts you can get from your broker that alert you to changes in price for your favorite stock, mutual fund or ETF, or that alerts you about 52-week highs or lows? The authors, Che-Wei Liu, Yanzhen Chen, Ming-Hui Wen, partnered with one of the largest retail mutual fund investment platforms in Taiwan, which provides a free price tracking alerts tool. Why did the group that utilized the price alerts underperform? Because the price alerts made traders cocky and because a lot of the traders were financially illiterate and didn't understand what they were doing. The SEC is worried too The SEC has expressed concerns over these digital trading platforms, including ones that provide price tracking alerts, which may be encouraging excessive trading.

Persons: Wei Liu, Yanzhen Chen, Ming, Hui Wen, Larry Swedroe Organizations: Strategic Wealth, SEC, Industry Regulatory Authority Locations: Taiwan

☆ Here are Thursday's biggest analyst calls: Nvidia, Micron, Netflix, Amazon, Disney, TJX, Pfizer and more
▼ + stars: | 2023-06-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Goldman Sachs reiterates Micron as buy Goldman said it's standing by its buy rating on the chipmaker after its earnings report Wednesday. JPMorgan reiterates Amazon as overweight JPMorgan said it's bullish heading into Amazon Prime Day in July. Bank of America reiterates Nvidia as buy Bank of America said it sees "AI networking upside" after a meeting with company management. Piper Sandler initiates TJX Companies as overweight Piper said the discount retailer is a top idea for the second half. Deutsche Bank reiterates Pentair as buy Deutsche Bank said Pentair is more than just a pool company.

Persons: Morgan Stanley, Freyr, Goldman Sachs, Goldman, China —, it's, Collette Kress, Networking Gilad Shainer, NVDA, OSK, Piper Sandler, Piper, KeyBanc, Pentair, Oppenheimer Organizations: Micron, Cyberspace Administration, JPMorgan, Amazon, " Bank of America, Nvidia, Bank of America, Networking, TAM, JPMorgan downgrades, Citizens, 2Q, Citi, Netflix Citi, Netflix, UBS, Warner Music, Deutsche Bank, Oshkosh Deutsche Bank, TJX Companies, DIS, Suisse, Pfizer, Credit Suisse, pharma, Spotify, FV Locations: China, 3Q22

☆ Credit Suisse downgrades Pfizer, says pharma giant will struggle to keep up with competitors
▼ + stars: | 2023-06-29 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Pfizer 's underperformance could be here to stay, Credit Suisse warned. Analyst Trung Huynh downgraded the pharmaceutical stock to neutral from outperform and cut his price target by $7 to $40. Pfizer said it still has other plans for focusing on obesity, which has been a closely followed area in the pharmaceutical development world. Pfizer has been his worst performing call since the outperform rating at the end of November, with shares underperforming major pharmaceutical peers in the U.S. by 26%. He said concerns that have weighed on the stock include over-optimism on Covid vaccination and booster rates, "ambiguous" guidance on the drug pipeline and negative events for projects in the drug pipeline.

Persons: Trung Huynh, Huynh, CNBC's Michael Bloom Organizations: Pfizer, Credit Suisse Locations: U.S, Covid

☆ Dividend payers underperformed in the first half. Here’s why they could make a comeback
▼ + stars: | 2023-06-28 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

Dividend payers are on track for their worst half against stocks that don't pay dividends since 2009, Ed Clissold, the firm's chief U.S. strategist, wrote in a June 22 report. "Our index of S & P 500 Dividend Payers underperformed Non-Payers by 13.7% year to date," he said. Meanwhile, the ProShares S & P 500 Dividend Aristocrats ETF (NOBL) is up 3% in 2023. SPYD .SPX YTD line SPDR Portfolio S & P 500 High Dividend ETF versus the S & P 500 in 2023 One of the reasons behind dividend stocks' underperformance is the fact that they have low betas. For starters, dividend payers tend to outperform during the second year of the Federal Reserve's tightening cycles, NDR found.

Persons: Ned Davis, Ed Clissold, Clissold, Jerome Powell, Michael Bloom Organizations: Ned Davis Research, underperformed, Nasdaq

☆ Wall Street titans including David Rosenberg and Rob Arnott sound off on AI: What they told us about the disruptive technology — from how it will lead to 'permanent displacement' of jobs, to why it's
▼ + stars: | 2023-06-28 | by ( William Edwards | ) www.businessinsider.com time to read: +11 min

AI's impact on the job marketRob Arnott"Every important disruption since the start of the industrial revolution has cost millions of people jobs. Millions of jobs will be lost to those who know how to use AI. "The implications of generative AI on the labor market will be one of upheaval and one of escalating job uncertainty. Are AI stocks in a bubble? Rosenberg"Advancements in AI technology, and its knock-on effects on profitability and productivity, is a legitimate investment thesis.

Persons: David Rosenberg, Rob Arnott, Savita Subramanian, Cam Harvey, Jawad Mian, Jobs, Merrill Lynch, aren't, Rosenberg, Harvey, Arnott, Brad Cornell, Aswath, There's, that's, Savita, –, capex, Mian Organizations: Industries, Investors, Research, Rosenberg Research, North, Bank of America Securities, Duke University, Microsoft, Nvidia, Google, Tech, Software, Services, Professional Services, IT Services Locations: North American, ChatGPT, Asia, Taiwan

☆ These are analysts' favorite S&P 500 stocks heading into the second half
▼ + stars: | 2023-06-28 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

It's been a stellar first half for the S & P 500 , and some stocks in the index may be poised for rallies in the back end of the year. The S & P 500 ended Tuesday's session at 4,378.41. The stocks are all S & P 500 members and have buy ratings from at least 65% of analysts. .SPX YTD mountain The S & P 500, year to date Targa Resources is the most-liked stock on the list, with just under 90% of analysts holding buy ratings. It's the only stock on this list with a positive year-to-date performance, though it has still notably underperformed the broad S & P 500 .

Persons: It's, Wells, Timothy Daley, Daley, Ron DeSantis, — CNBC's Michael Bloom, Fred Imbert, Gina Francolla Organizations: CNBC, CNBC Pro, Rad Laboratories, Rad, Resources, Florida Gov, Disney

☆ The demand for senior housing is about to explode. These stocks will reap the benefits
▼ + stars: | 2023-06-27 | by ( Michelle Fox | ) www.cnbc.com time to read: +9 min

The rapidly aging population is expected to be a boon for senior housing. About 50% of those in assisted living facilities, for example, are aged 85 and older, while 31% are between 75 and 84 years old, according to the National Center for Assisted Living . Bumpy road but 'attractive valuation' ahead Right now, senior housing is seeing favorable demographics, as well as improving fundamentals and margins, said NIC's Clapp. There's a point where for each incremental bed added in senior housing, you might not need another worker in the building, he explained. Other names tied to the trend include Ensign and Omega Healthcare Investors , which both provide skilled nursing and senior living services, as well as Brookdale Senior Living , an operator of senior living communities with just a $755 million market cap.

Persons: Wells, Connor Siversky, Welltower, Ventas, Raymond James, Jonathan Hughes, You've, they've, Caroline Clapp, Greg Kuhl, Janus Henderson, We've, we've, Kuhl, Siversky, NIC's Clapp, Clapp, there's, Stocks, Janus Henderson's Kuhl, that's, Hughes, CNBC's Michael Bloom Organizations: . Census, National Center for, National Investment Center, Seniors Housing, Care, U.S . Census Bureau, NIC, Investors, Estate Fund, Omega Healthcare Investors Locations: U.S, NOI

The drain in hard currency sparked panic earlier in the year, with Bolivians forming lines outside banks to withdraw dollars. Bond yields spiked sharply and in May the government was forced to sell half of its $2.6 billion gold reserves to raise cash. A major drought in Argentina has hammered grains output and reserves, imperiling a $44 billion debt deal with the International Monetary Fund. "The model is now shifting towards a very big state, a tax-and-spend approach," he said. "It has calmed people a bit... but that amount (gained from the gold reserves sale), $1.3 billion, is not enough for Bolivia," said local financial analyst Jaime Dunn.

Persons: Read, LA, Evo Morales, Jose Gabriel Espinoza, Marcelo Montenegro, Alberto Ramos, Goldman Sachs, spender, Jaime Dunn, Reuters Graphics Espinoza, Morales, Raúl Cortés Fernández, Daniel Ramos, Adam Jourdan, Rosalba O'Brien Organizations: Departmental Association of Coca Producers, LA PAZ, Reuters, International Monetary Fund, Bolivian, Graphics, Banco, Reuters Graphics, MAS, Thomson Locations: La Paz, Bolivia, Bolivian, America, Argentina, Peru, Brazil, Chile, Colombia

McKinsey says generative AI could add $7.3 trillion in value to the world economy each year and believes half of today's work activities could be automated between 2030 and 2060. The latest Bank of America survey in June showed 29% of global investors don't expect AI to increase profits or jobs. "There's a lot of focus on the risks that generative AI can bring. He sounded confident over the capacity of some professional information and data providers, which own proprietary data, to integrate generative AI into their products. Cristina Matti, small and midcaps portfolio manager at Amundi, said indiscriminate investing was not an option for investors seeking AI exposure.

Persons: Gilles Guibout, UK's Pearson, Chegg, Pearson, Thomas McGarrity, Andrea Scauri, Scauri, Capgemini, Cristina Matti, Danilo Masoni, Lucy Raitano, Chizu Organizations: Nvidia, McKinsey, AXA Investment, Bank of America, Microsoft, RBC Wealth Management, Accenture, Thomson Locations: MILAN, Europe, United States, Paris, Lemanik, Amundi

[1/3] Republican U.S. presidential candidate former Vice President Mike Pence addresses The Faith and Freedom Coalition's 2023 "Road to Majority" conference in Washington, U.S., June 23, 2023. The event, which former President Donald Trump will address on Saturday, coincides with the first anniversary of the Supreme Court's landmark Dobbs decision, which overturned the 1973 Roe v. Wade ruling that had legalized abortion. Apart from Pence, the other Republican candidates did not plunge deeply into policy specifics. Florida Governor Ron DeSantis, who is second in opinion polls to the front-runner Trump, referred to a six-week abortion ban that he signed in his state earlier this year. Trump has attempted to ally himself with opponents of abortion rights, while also dodging specific questions on legislation he would or would not support.

Persons: Mike Pence, Elizabeth Frantz WASHINGTON, Donald Trump, Roe, Wade, Dobbs, underperformance, Pence, Ron DeSantis, Trump, DeSantis, Tim Scott, Janet Yellen, Asa Hutchinson, Chris Christie, Gram Slattery, Colleen Jenkins, Grant McCool Organizations: Republican U.S, REUTERS, Republican, U.S, Supreme, & Freedom Coalition, Republicans, Democrats, Arkansas, Former New Jersey, Thomson Locations: Washington , U.S, Washington, Iowa, South Carolina, Florida, U.S

☆ Hopes Rise for Rally in Small Stocks After Historic Underperformance
▼ + stars: | 2023-06-22 | by ( Charley Grant | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/hopes-rise-for-rally-in-small-stocks-after-historic-underperformance-b15a1d20

Persons: Dow Jones

☆ Deutsche Bank upgrades Anheuser-Busch InBev, sees Bud Light headwinds fading
▼ + stars: | 2023-06-22 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Anheuser-Busch InBev's Bud Light nightmare won't last forever, according to Deutsche Bank. Anheuser-Busch's U.S.-listed shares are down nearly 15% in the second quarter, driven largely by consumers fleeing the Bud Light brand over a collaboration with transgender influencer Dylan Mulvaney. BUD 3M mountain Bud Light stock has dropped nearly 15% in the second quarter. "Our proprietary dbDIG survey data suggests that 24% of Bud Light consumers no longer buy the brand with another 18% buying less. The company is slated to report second-quarter earnings in early August, and Collett expects the Bud Light parent to reduce or remove its full-year guidance.

Persons: Busch, Bud, influencer Dylan Mulvaney, Mitch Collett, Bud Light, Collett, — CNBC's Michael Bloom Organizations: Anheuser, Deutsche Bank, €, Busch's, Bud Light, Bud, Busch InBev Locations: Busch's U.S, U.S, Mexico, Brazil, China

☆ VIEW Bank of England delivers hefty rate hike
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +6 min

Traders scrambled to price in a peak to UK rates of as much 6% and its implications for the risk of recession, and rate-sensitive stocks like banks and homebuilders slid. MONEY MARKETS: UK 2-year gilts dropped sharply, then rose after the decision but were last unchanged at 5.04%. But even if the bank hasn't offered up any new guidance, the rate decision itself is revealing. The UK has the unenviable title of highest core inflation rate in the G7, and by quite some margin. "Having said that, their policy is now more data dependent, the bank had to deliver a rate increase.

Persons: homebuilders, Sterling, gilts, JAMIE NIVEN, JAMES SMITH, hasn’t, hasn't, BoE, SEEMA SHAH, CHRIS BEAUCHAMP, Bailey, PAUL OBERSCHNEIDER, BOE, ” ROBERT JEFFREE, GARY SMITH, EVELYN, Yoruk Organizations: Bank of England, MPC, Traders, CANDRIAM, ING, LONDON, IG GROUP, Treasury, EMEA, Thomson

☆ These 16 cheap, fast-growing stocks are the best opportunities in their red-hot sector, according to BMO Capital Markets
▼ + stars: | 2023-06-22 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Here are 16 industrials stocks with growth at a reasonable price, according to BMO Capital Markets. Wall Street's obsession with technology stocks has overshadowed what's been an impressive rebound for the often-overlooked industrials sector. Industrials are on pace for their best month since last year in both absolute and relative terms, according to BMO Capital Markets. BMO Capital Markets16 industrials stocks that are cheap with strong growthIndustrials may struggle to maintain their recent momentum, but BMO doesn't recommend avoiding the red-hot sector entirely. BMO Capital MarketsBelow are 16 stocks in the impressive industrials sector that offer better earnings growth than the median stock in the S&P 500 while also trading at a below-median valuation.

Persons: Industrials, what's, Brian Belski, Belski, he's, it's Organizations: BMO Capital Markets, Bank of America, BMO Capital, BMO Locations: laggard, industrials

☆ This Wall Street bank's stock is expected to double over the next year, Jefferies says
▼ + stars: | 2023-06-22 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Shares of global bank Barclays are forecast to more than double over the next 12 months, according to Jefferies. The British bank's stock has underperformed and is valued below its peers over the past few months. The disparity has led to the bank reportedly hiring consulting firm BCG to undertake a strategic review to address weaknesses in the share price. The bank's analysts predict that Barclays can potentially buy back £2.2 billion worth of shares in 2024 and 2025, along with £1.5 billion this year. As the bank's earnings increase, its share price could also rise, providing a better return for shareholders.

Persons: Jefferies, Joseph Dickerson, Benjamin Toms, Roger Lee Organizations: Barclays, BARC, Jefferies, RBC Capital Markets, RBC, Investec Securities Locations: London, United States, British, U.K

☆ This compact fund beats the market and provides a downside cushion in tough times
▼ + stars: | 2023-06-18 | by ( Alex Harring | ) www.cnbc.com time to read: +8 min

While now considered compact with 40 holdings, portfolio manager Andrew Choi said it has become known for its cushion when the market hits a bad patch. " The fund has returned 10.9% annually since its inception, compared with a 9.9% year gain over the same period for the broad S & P 500. PRBLX .SPX YTD mountain The fund vs. the S & P 500 'Dancing in the right places' The fund was created in 1992, about eight years after the firm itself began. He said the fund finds stocks that can provide downside cushion by looking at moats and management teams. Rolling returns over the past five years show the fund outperforming the S & P 500 and Russell 1000 about 60% of the time.

Persons: Andrew Choi, Choi, Morningstar, Todd Ahlsten, Ahlsten, Warren Buffett, Biden's, they're, Salesforce, Charles Schwab, Apple, Big, Stephen Welch, it's, Russell, sharpe, Welch Organizations: Equity Fund, firm's CIO, GOP, Semiconductor, Devices, Nvidia, Bank of America, Microsoft, Apple, Deere, Linde, Procter, Gamble, Adobe, Mastercard Locations: downturns

The rapid rise in gilt yields has consequences for the wider economy. To some investors, gilts now increasingly look a bargain as 6% BoE interest rates appear unrealistic. Two-year gilt yields have risen by 1.1 percentage points this year, compared with a 0.3 percentage point increase for German two-year yields and 0.2 percentage points for U.S. Treasuries . Raising interest rates to 6% would "succeed in destroying demand" in the wider economy, he said. Ten-year gilt yields now pay an interest rate nearly 2 percentage points higher than the equivalent German government bond .

Persons: BoE, Liz, Britain's, Jim Leaviss, BoE Governor Andrew Bailey, gilts, We've, Mike Riddell, Riddell, Moyeen, There's, Islam, Naomi Rovnick, David Milliken, Toby Chopra Organizations: Labour Party, Bank of England, Bank of, Italy, Reuters Graphics, Allianz Global Investors, U.S, Barclays, Thomson Locations: Bank of England, Britain, British, gilts

☆ Goldman Sachs upgrades Devon Energy, says shares look attractive following recent underperformance
▼ + stars: | 2023-06-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

The setup for shares of Devon Energy looks rosier despite its recent streak of underperformance, according to Goldman Sachs. Analyst Neil Mehta upgraded the energy stock to buy from neutral, citing its attractive valuation and improving confidence in the capital expenditures and production outlook. Devon Energy stock's shed 19.7% this year. According to Mehta, the company's recent underperformance beginning with 2022 third-quarter results stemmed from higher capital expenditures stemming from a combination of increased material and service costs and lower production. Through dividends and shares repurchases, he expects Devon to return 10% of its market cap versus 8% among his large cap peers.

Persons: Goldman Sachs, Neil Mehta, Mehta, — CNBC's Michael Bloom Organizations: Devon Energy, Energy Locations: Devon

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, Ulta, FedEx, Roblox, Netflix, Oracle & more
▼ + stars: | 2023-06-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Goldman Sachs upgrades Devon Energy to buy from neutral Goldman said the energy company's valuation is attractive. Morgan Stanley initiates BAE Systems as buy Morgan Stanley said the aerospace and defense company has an "attractive capital deployment policy." Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it expects Tesla to build a "full-scale captive financing subsidiary as the market matures." Morgan Stanley upgrades Urban Outfitters to overweight from equal weight Morgan Stanley said in its upgrade of the stock that it has an attractive valuation. Goldman Sachs reiterates FedEx as buy Goldman said it's standing by its buy rating on FedEx heading into earnings next week.

Persons: it's bullish, Goldman Sachs, Goldman, Salesforce, Piper Sandler, Piper, AIZ, Morgan Stanley, Canaccord, Roblox, Stone, Tesla Organizations: Bank of America, Netflix, Devon Energy, PayPal, JPMorgan, Deutsche Bank, Deutsche, BAE Systems, HSBC, Stone, Urban, Oracle, FedEx, UBS, Apple Locations: Devon

☆ The S&P 500 is breaking out. Here are Wall Street's favorite names to lead the next leg higher
▼ + stars: | 2023-06-13 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

The S & P 500 has continued its ascent, already exceeding many Wall Street expectations for its annual gain even though we're only half way into the year. .SPX 5Y mountain The S & P 500 And this is happening just shy of the half-year point for 2023, meaning there's lots of time left for future market moves. Given the potential for further upside, CNBC Pro compiled names whose individual gains could help the market move another leg higher. Shares have risen around 7% this year, which is a relatively modest advance compared with the S & P 500's 13% gain. About two-thirds of analysts rate Zoetis a buy.

Persons: we're, Wolfe, Peter Supino, that's, Fred Imbert Organizations: CNBC, Mobile, Wolfe Research, Disney Locations: FactSet, U.S

☆ Wall Street Week Ahead: Investors rethink recession plays, boosting U.S. stock market laggards
▼ + stars: | 2023-06-09 | by ( David Randall | ) www.reuters.com time to read: +5 min

"There's reason to believe that the pessimism we saw at the start of the year is giving way to a stronger-than-expected market." Murray has increased his allocation to small-cap stocks, which tend to be among the most direct beneficiaries of economic growth. Other rebounding segments in June include the S&P 500 energy sector, which has gained 6% this month and S&P 500 industrials, up 5.7%. Ten of the 11 S&P 500 sectors are firmer for the month to date, compared to only six for the year. Stronger-than-expected jobs growth and robust consumer spending have been among the data points that have bolstered investors' economic outlook.

Persons: Tim Murray, T Rowe Price's, Murray, Russell, Dow, Howard Silverblatt, Goldman Sachs, Saira Malik, Max Wasserman, David Randall, Saqib Iqbal Ahmed, Lewis Krauskopf, Ira Iosebashvili, Richard Chang Organizations: YORK, Energy, Reuters, Apple Inc, Microsoft Corp, Inc, Amazon.com Inc, Nvidia Corp, Tesla Inc, Dow Jones, Capital Economics, Miramar Capital, Starbucks Corp, Target Corp, Thomson Locations: U.S

☆ Wolfe says T-Mobile can rally more than 25% following recent selloff
▼ + stars: | 2023-06-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Wolfe Research has once again turned bullish on T-Mobile following a recent bout of underperformance. The stock has fallen 9.6% so far this year, an underperformance that has made Supino optimistic that the stock will have upside. That's because of the 4% or more organic postpaid service revenue growth expected through 2024 and positive current-quarter guidance on postpaid phone net adds despite decelerations elsewhere. T-Mobile should be able to continue getting the bulk of Big-3 net adds given its under-index to small markets, he said. And Supino said the company should feel the last tailwinds from churn reducing among Sprint subscribers after it merged with T-Mobile.

Persons: Wolfe, Peter Supino, there's, Supino, — CNBC's Michael Bloom Organizations: Wolfe Research, Mobile, Sprint

☆ Stocks making the biggest moves midday: GameStop, Amazon, Carvana and more
▼ + stars: | 2023-06-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

GameStop — The meme stock tumbled nearly 18% after the company fired CEO Matthew Furlong and appointed Ryan Cohen as executive chairman, effective immediately. Carvana — Shares popped 56% after the online car seller issued an upbeat outlook for the second quarter. Carvana said it now expects non-GAAP total gross profit per unit to come in above $6,000 in the second quarter. Smartsheet — Smartsheet tanked more than 17.5% after the software company said billings came in at $215.5 million, falling short of a StreetAccount estimate of $217.1 million. Trip.com posted earnings per share of 43 cents, beating a StreetAccount estimate of 26 cents.

Persons: Matthew Furlong, Ryan Cohen, Wells, Carvana, Wolfe, Fisker, Rod Lache, Chris Licht, Jefferies, billings, Lilly Pulitzer, Tommy Bahama, Trip.com, Yun Li, Alex Harring, Sarah Min, Michelle Fox, Tanaya Macheel Organizations: GameStop, Signet, Signet Jewelers, Wolfe Research, Warner Bros, CNN, Wynn Resorts, Sands, Mobile, Adobe —, Adobe, Oxford Industries Locations: Wells Fargo, Las, Macao

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