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☆ Boring no more. Goldman says buy these utility stocks that are enabling a clean energy future
▼ + stars: | 2023-06-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Utility stocks are poised to capitalize on a clean energy future, according to Goldman Sachs. The shift to clean energy will require a "significant" amount of capital investment, which will contribute to attractive earnings and rate base growth, Davenport said. Among the names Goldman rated a buy are American Electric Power, NextEra Energy, Sempra and Southern Co. American Electric Power and NextEra Energy both hit several of Goldman's themes. NextEra Energy offers more than 21% upside to Goldman's price target, plus a 2.5% dividend yield. Meanwhile, Sempra is also an attractive growth opportunity, Davenport said.

Persons: Goldman Sachs, enablers, Carly Davenport, Davenport, Goldman, Sempra, CNBC's Michael Bloom Organizations: Utilities, Fund, Industry, American Electric Power, NextEra Energy, Sempra, Southern Co . American Electric Power, NextEra, Florida, Electric, LNG, Infrastructure, Southern Co Locations: United States, Southern, FPL, Texas

☆ This water tech stock can rally nearly 25% following 'transformative' acquisition, Goldman says
▼ + stars: | 2023-06-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Investors should buy Xylem after its acquisition of fellow water technology firm Evoqua, Goldman Sachs said. The bank reinitiated its buy rating on Xylem with a price target of $133, which implies a 24.2% upside from where the stock finished Wednesday's session. In the deal, Lee said the company gains a portfolio of water treatment solutions and better placement in U.S. industrial end markets. And the acquisition only "further strengthens its status as a clear ESG winner," Lee said. Any difficulties with acquisition integration could also impact the stock, he said.

Persons: Goldman Sachs, Evoqua, Brian Lee, Lee, — CNBC's Michael Bloom Locations: North America

☆ Here are Thursday's biggest analyst calls: Amazon, Apple, GameStop, T-Mobile, Skechers, Lowe's & more
▼ + stars: | 2023-06-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Jefferies downgrades Las Vegas Sands and Wynn to hold from buy Jefferies downgraded several casino stocks, mainly on valuation. Jefferies reiterates Apple as buy Jefferies said it stands by its buy rating on the Mac maker but that it's concerned about the lack of social experience with Apple's VR technology. Jefferies reiterates GameStop as hold Jefferies said the revolving door of GameStop executives is "more of the same" for the company. Skechers is the world's 3rd largest footwear brand and an underappreciated growth stock, in our view." Bank of America reiterates Lowe's as a buy Bank of America said investors should buy the stock "when the market is fearful."

Persons: Wells, Jefferies, Wynn, WYNN, LVS, Oppenheimer, Apple, Wolfe, Goldman Sachs, Salesforce, Goldman, Morgan Stanley, Skechers, Lowe's, Bernstein Organizations: Vegas Sands, Citi, Apple, VR, GameStop, Mobile, Smart, Rio Tinto, UBS, Amazon, Carrier, Bank of America, of America, NextEra Energy, Xcel Energy, American Electric Power, Barclays, FedEx Locations: Vegas, Rio, China, 2023E

☆ Mike Pence files paperwork to launch 2024 Republican presidential campaign
▼ + stars: | 2023-06-05 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +6 min

Former Vice President Mike Pence addresses the GOP Lincoln-Reagan Dinner on June 3, 2021 in Manchester, New Hampshire. Pence's visit to New Hampshire would be the first time back since he was Vice President. Former Vice President Mike Pence filed paperwork Monday to run for president in 2024, Federal Election Commission documents showed. Pence, who served under former President Donald Trump, is expected to personally launch his bid for the GOP nomination on Wednesday. Pence in recent months has said that the executive branch under Trump and Pence could have done more to rein in spending.

Persons: Mike Pence, Reagan, Pence's, Pence, Donald Trump, Ron DeSantis, Trump, DeSantis, Joe Biden, Biden, Trump's, Nikki Haley Organizations: GOP Lincoln, GOP, Trump, Florida Gov, U.S . House, Pence, Social Security, Medicare, Electoral, U.S . Capitol, Capitol, Quinnipiac University, Republican, South Carolina Gov, CNBC Locations: Manchester , New Hampshire, New Hampshire, U.S, Indiana

☆ Stock market scales steep wall of worry to approach one-year high
▼ + stars: | 2023-06-03 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

.SPX YTD mountain S & P 500 this year Yet with it all, the S & P 500 managed three closes in a week above the 4200 level deemed by most to be the top of its range, before jumping 1.5% Friday to finish at 4282 – just half a percent below its August peak closing value. S & P 500 poised to break out The trip to 4300 today comes under quite different, and less malign, conditions. Back then there was still nearly 300 basis points of Fed tightening ahead of us and earnings forecasts were dropping fast. Even at the August stock-index highs, the CBOE S & P 500 Volatility Index was scarcely able to drop below 20 – typically a floor during bear markets. In the near term, the S & P 500 looks a bit stretched, the index pushing well above its trend channel – a sign both of respectable strength and temporary overheating.

Persons: –, Jerome Powell, Russell, Jeff DeGraaf, it's, Let's Organizations: Federal, Treasury, Fed, Renaissance Macro Locations: U.S

☆ Here are Friday's biggest analyst calls: Apple, Amazon, Broadcom, Bowlero, Microsoft, Rivian & more
▼ + stars: | 2023-06-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Friday's biggest calls on Wall Street: Bank of America reiterates Broadcom as buy Bank of America raised its price target on the stock to $950 per share from $800 after Broadcom's earnings report on Thursday. "Our new PO of $950 (from $800) represents 21x CY24E EV/FCF as AI accelerates company growth potential. Bank of America reiterates Five Below as buy Bank of America said the discount retailer has "recession resilience." Bank of America upgrades Surgery Partners to buy from neutral Bank of America said the health care company has " favorable long-term tailwinds." Bank of America reiterates Lululemon as buy Bank of America said Lululemon is a "best-in-class growth story."

Persons: it's, Riley FBR, Riley, Piper Sandler downgrades, Piper, Morgan Stanley, Apple, it's bullish, Wells, Stifel, Goldman Sachs, Goldman, 100bps, Frank Klein, Tim Fallon, Tim Bei, Derek Mulvey, RIVN, Lululemon Organizations: Bank of America, Broadcom, Warner Music, JPMorgan, Energy, Surgery Partners, of America, Partners, Amazon, Microsoft, ISI, Barclays, Strategic Finance, Citi, Frontier Citi, LaGuardia, Spirit Airlines, Watch Locations: Valvoline, Biopharma, Agriculture, Normal , IL

☆ A ‘Dirty’ Job That Few Want: Mining Companies Struggle to Hire for the Energy Transition
▼ + stars: | 2023-06-01 | by ( Yusuf Khan | ) www.wsj.com time to read: +10 min

Despite their part in the energy transition, mining companies face a perception of being in a “dirty” industry thanks to a legacy of mining disasters and accusations of worker exploitation and sexual assault. Canada’s mining and mineral-engineering enrollment was down 10% in 2020 compared with 2016, according to Canada’s Mining Industry Human Resources Council. SHARE YOUR THOUGHTS What message should mining companies deliver to young workers to attract them to the industry? Mining companies also face accusations of exploitation of local workforces. She hopes that younger workers will help mining companies evolve, taking on more social responsibility and improving their mining practices.

Persons: Lily Dickson, Mawson, ”, Alex Gorman, Peel Hunt, Rohitesh Dhawan, Alex Gorman “, Gorman, “, Haydon Mort, Stacy Hope, Cole Burston, Hope, Codelco, Centamin, Martin Horgan, Mort, Geologize, Jamie Kelsey Fry, Dickson, Yusuf Khan Organizations: University of Leeds, Leeds, Rio Tinto, McKinsey, U.S . National Center for Education Statistics, Canada’s Mining, Resources Council, Peel, International Council, Mining, Metals, Tinto, of Labor Statistics, Australian Bureau, Statistics, Geologize Ltd, BHP, . Workers, Bloomberg, Codelco, Chilean, Walmart, Recruiting, Centamin, Sustainable Business, “ Locations: Finland, Vancouver, Europe, U.S, Australia, Rio, South Africa, Lily Dickson Canada, Botswana, “, Saharan Africa, Ontario, Canada, Chile, Africa, Congo, Ghana, Zimbabwe, yusuf.khan

Despite a strong job market, human resources and employment services stocks have taken a beating lately. That could signal an economic slowdown ahead. Since March 1, the S & P 1500 Composite Human Resource & Employment Services Sub-Industry has seen accelerated underperformance versus the broader S & P Composite 1500 index. Large drawdowns in the jobs-related sub-industry tend to precede recessions and larger increases in unemployment. See below for details on how stocks in the S & P 1500 Composite Human Resource & Employment Services Sub-Industry have performed in recent months.

Persons: Dow Jones, nonfarm payrolls, Robert, ASGN, Korn, — CNBC's Michael Bloom Organizations: Industry, U.S . Bureau of Labor Statistics, ADP, Dow, Robert Half International, Wednesday, UBS, Robert Half, Kelly Services

As billions of dollars have flooded into Big Tech over the last six weeks, bitcoin trading volumes and demand have slumped. Since April 25, the NYSE FANG+TM index of big tech and growth stocks has surged 24%, nearly three times the broader Nasdaq. The AI boom has gathered momentum despite the rise in bond yields and discount rates. This has highlighted bitcoin's underperformance and strongly suggests that outside the rarified world of Big Tech, investors are much more discerning. Indeed, just seven U.S. tech stocks have driven all of the positive S&P 500 returns so far this year, according to analysts at Barclays.

Persons: Crypto, Matt Weller, Weller, bitcoin, Vanda, Vanda's Marco Iachini, cryptocurrencies, Jamie McGeever, Sam Holmes Organizations: Nasdaq, NYSE, Reuters, Big Tech, Microsoft, Barclays, Vanda Research, Thomson Locations: ORLANDO, Florida, U.S

☆ Turkey stocks rally, lira slips to record low after Erdogan victory
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +7 min

The nation is grappling with a cost of living crisis, a plunging currency and depleted foreign reserves. MARKET REACTION:LIRA: The Turkish currency touched a fresh record low of 20.105 on Monday. "In a scenario where Turkey ran out of foreign currency, lira’s value would likely collapse, inflation would explode and goods shortages could occur. A painful crisis affecting all assets is on the way, with very high inflation, very low interest rates and no net foreign reserves. Only the most optimistic would hope that Erdogan now feels sufficiently secure politically to revert to orthodox economic policy."

If your school suspends your financial aid, you may be able to appeal the decision and get it back. Many schools require that students maintain a minimum GPA and complete a minimum number of credits per semester to qualify for financial aid." "They know that if students get less financial aid, then they will be less likely to stay and graduate." Components of a financial aid suspension appeal letterThe exact financial aid suspension appeal process varies by college, but your school may have a form you'll need to fill out to get the ball rolling. Financial aid suspension appeal letter exampleYou'll want to format your appeal letter much like a cover letter — with a header, date, and formal greeting.

☆ Citi upgrades outlook on U.S. equities, calls artificial intelligence a 'kicker'
▼ + stars: | 2023-05-26 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Citi upgraded U.S. stocks to neutral from underweight, as a pause in Federal Reserve rate hikes becomes more likely and the U.S. economy fares better than expected. Citi also pointed to strength in U.S. tech stocks as a reason for the upgrade, as excitement around artificial intelligence boosts the sector. "AI may continue to remain a kicker, given that it is not far enough developed to disappoint expectations yet," Citi said. We implement this view by moving the U.S. back to neutral, and in the sector section, going overweight the tech sector." AI-related stocks such as Microsoft and Nvidia have been on fire this year, as investors try to capitalize on the latest craze.

Persons: Dirk Willer, Jerome Powell, — CNBC's Michael Bloom Organizations: Citi, Microsoft, Nvidia Locations: U.S

☆ Goldman sees underperforming dividend stocks catching up and recommends using options to play it
▼ + stars: | 2023-05-24 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Dividend stocks have been lagging the broader market in 2023 and it could be time for that gap to close, according to Goldman Sachs. In a note to clients Wednesday, Goldman's derivatives research team highlighted the underperformance of the iShares Select Dividend ETF (DVY) to show how dividend payers are struggling. "While the DVY has 50%+ exposure to Utilities (-6% YTD) and Financials (-5% YTD), it does not fully explain the weakness of high dividend stocks." DVY YTD mountain Dividend stocks have underperformed in 2023. There are several major stocks within DVY that don't fall under utilities or financials but are still underperforming despite dividends that appear well-supported.

Persons: Goldman Sachs, Goldman, — CNBC's Michael Bloom Organizations: Utilities, Verizon, IBM, Pfizer

☆ A portfolio manager who runs 3 of the 10 best large-cap funds in the past year shares his surprisingly simple investing strategy — and the 4 places he's putting his money now
▼ + stars: | 2023-05-24 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Leading fund manager Matt Fruhan found success this year by continuing to prioritize valuations. Two of those standout funds, the Fidelity Mega Cap Stock Fund (FGRTX) and the Fidelity Advisor Mega Cap Stock Fund (FGTAX), are virtually identical, except for their class and ticker. The fund manager told Insider that he applies the same investing process and principles across all of his funds. "Some investors are kind of reactive to the market and let the market tell them what to think," Fruhan said. And that's how you get separation from the stock market over time."

☆ Morgan Stanley strategist Mike Wilson says don't be fooled, this is not a new bull market
▼ + stars: | 2023-05-22 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

The S & P 500 's range breakout last week may not signal a bull market ahead, Morgan Stanley warned. But he said that isn't enough to confirm a new bull market given there are signals warning otherwise. "Rather than a short squeeze, the market was driven by the biggest winners as more market participants convinced themselves the next bull market may have begun and they can't afford to miss it." .SPX 6M line The S & P 500's last six months Market fundamentals also aren't helping the bull case, he said. Excluding technology stocks, the S & P 500's price-to-earnings multiple is 18 times, still putting it in the top 15% of historical levels.

Goldman Sachs believes the current downturn in the energy sector has created attractive opportunities for investors. The energy sector is down 9.4% in 2023, the largest decline among the 11 major S & P 500 sectors. Goldman attributes the energy sector's underperformance to a combination of macroeconomic conditions. Mild winter temperatures drove lower natural gas prices, and Russian oil supplies were s well higher-than-expected. Goldman also picked oil services company Halliburton as an underappreciated energy name.

Within weeks, Della Valle gave them a stark assessment of the problems Vodafone faces. Complicating matters is an investor base with conflicting demands, concerns about Vodafone's dividend outlook and a workforce reeling from the deep job cuts. While many observers in and outside the company had expected a fresh face, Della Valle won over the board. Vodafone's shares are trading at lows last seen in 2002, largely due to a cut to free cash flow forecasts. That may not sit well with Vodafone's other key investors - French telecoms billionaire Xavier Niel, who competes with it in Italy, and Liberty Global, its partner in the Netherlands.

☆ Buy these 14 'boring' stocks that are set up for strong long-term growth, according to a pair of fund managers in the top 1% this year
▼ + stars: | 2023-05-20 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Leading fund managers Brian Yacktman and Elliott Savage broke through by sticking to their strategies. The pair looks for growth stocks that have pricing power and aren't too expensive. 14 top stocks to buy nowInvestors in search of those so-called boring stocks with steady growth, pricing power, and reasonable valuations are in luck. The fund managers like Mastercard (MA) and Visa (V), which function very much like toll collectors in the global payments space. Both enjoy the tremendous advantage of scale that wards off would-be competitors and positions them for future growth, in the fund managers' view.

☆ Elliott proposes adding new directors to Goodyear’s board. How a margin-boosting plan might unfold
▼ + stars: | 2023-05-20 | by ( Kenneth Squire | ) www.cnbc.com time to read: +8 min

To implement its plan, Elliott is recommending adding five new directors to the board. Six members of the 12-person board (including CEO Richard Kramer) have served on the board for 11+ years. This, along with the underperformance and tenure of many directors makes for a compelling case for serious board reconstitution. Based on its history, we would expect this to be a diversified and qualified group of industry and professional directors with one Elliott executive. Elliott right now is working amicably with management and recommending potential directors as opposed to threatening to nominate their own slate of directors.

☆ 3 of our tech stocks are in the news. Here are the takeaways from the headlines
▼ + stars: | 2023-05-18 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Here's a breakdown of the news, and how the headlines impact our investment approaches to the companies. Morgan Stanley likes PANW PANW YTD mountain Palo Alto Networks' year-to-date stock performance. Despite concerns around overall tech spending, Morgan Stanley said that companies still want to streamline their cybersecurity spending. Meta's stock has, of course, been on a tear since bottoming under $89 per share back in November. (Jim Cramer's Charitable Trust is long PANW, META, GOOGL and AAPL.

☆ Here are Thursday's biggest analyst calls: Tesla, Amazon, Netflix, Walmart, Nvidia, FedEx, Meta & more
▼ + stars: | 2023-05-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Citi names Meta top pick Citi said Meta is its new top pick pick based on the strength of its ad platforms. Jefferies reiterates Amazon as buy Jefferies said it sees a "strong AI opportunity" for the e-commerce giant. " "We believe upcoming results from FedEx next month can be a meaningful positive catalyst for shares. Citi reiterates Tesla as neutral Citi said its recent survey checks show Tesla has an "impressive loyalty lead." Jefferies reiterates Walmart as buy Jefferies said the big box giant is still a top pick after its robust earnings report on Thursday morning. "

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☆ As Big Cap tech nears new highs and dominates indexes, some stress equal weighting
▼ + stars: | 2023-05-18 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

As big-cap tech approaches new highs, some put more emphasis on equal weight. With more than $7 trillion indexed to the S & P 500, this is not an academic debate. With the S & P 500 up 8% this year, the average stock, as represented by the S & P Equal Weight ETF (RSP), is up a measly 0.5%. The RSP has underperformed the market-cap weighted S & P 500 month-to-date, quarter-to-date, and year-to-date. An argument could be made that active managers invest more like an equal-weight index.

☆ Activist investor Elliott pushes for change at NRG Energy
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +1 min

Companies NRG Energy Inc FollowMay 15 (Reuters) - Activist investor Elliott Investment Management on Monday sent a letter to the board of NRG Energy (NRG.N) urging the U.S. utility to conduct a review of its home services strategy and add new independent directors. The recommendations will remedy NRG's underperformance and strategic missteps including the acquisition of Vivint Smart Home Inc, Elliott said. In December, NRG said it would buy Vivint Smart Home Inc for $2.8 billion in cash. The activist investor called it "the single worst deal in the power and utilities sector in the past decade". Elliott manages funds that have an investment of about $1 billion, representing a more than 13% interest in NRG Energy.

☆ Bank of America's underperformance creates buying opportunity, says RBC's Cassidy
▼ + stars: | 2023-05-15 | 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 EmailBank of America's underperformance creates buying opportunity, says RBC's CassidyGerard Cassidy, RBC Capital Markets managing director, joins 'Fast Money' to discuss the fallout of the banking crisis, Bank of America's recent performance, and more.

☆ Apple is bigger than the whole market for small caps again. Here's what it means for investors
▼ + stars: | 2023-05-15 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

The combined value of all of Apple 's shares is greater than the entirety of an index comprised of 2,000 small stocks. That's bigger than the combined market cap of all 2,000 stocks in the small cap-focused Russell 2000 , which was at $2.208 trillion. "It is apples to oranges — or small caps," said Willie Delwiche, founder of Hi Mount Research. DeSanctis also noted the overhang of the debt ceiling could add further pressure to small caps, given their underperformance in 2011. "If something goes right for small cap or the overall market, small can have a really nice bounce," he said.

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