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☆ Here are Friday's biggest analyst calls: Apple, Amazon, Coinbase, Generac, Wayfair, Disney & more
▼ + stars: | 2023-08-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating on Apple after its earnings report Thursday. Rosenblatt downgrades Apple to neutral from buy Rosenblatt said Apple is sitting in a "slowdown phase." Citi upgrades Intercontinental Exchange to buy from neutral Citi said it sees "improving signals across the platform" for the exchange company. Citi opens a positive catalyst watch on Apple Citi said it sees upside ahead of the company's new iPhone unveil in September. Citi reiterates Disney as buy Citi said it's sticking with its buy rating on stock heading into earnings next week. "

Persons: Stephens, it's, Morgan Stanley, Apple, tonight's, Rosenblatt, Raymond James, Goldman Sachs, Goldman, Oppenheimer, Tim Horton's, TD Cowen, Read, Truist, Lamb Weston, Stifel, Evercore Organizations: bil, Bank of America, AWS, underperform Bank of America, Apple, AMD, Citi, Intercontinental Exchange, ICE, Galactic, Virgin Galactic, Brands, Restaurant Brands, SSS, TH, BK, TD Cowen downgrades Moderna, Apple Citi, Disney, JPMorgan, Petrobras, Petrobras –, PayPal Locations: Coinbase, Burger, F1Q23

☆ Amazon earnings: What investors should be watching
▼ + stars: | 2023-08-03 | 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 EmailAmazon earnings: What investors should be watchingMark Mahaney, Evercore ISI head of internet research, and Malcolm Ethridge, executive vice president and financial advisor at CIC Wealth, join 'Closing Bell' to discuss expectations for Amazon's earnings results, the AI momentum fueling Amazon's AWS growth, and more.

Persons: Mark Mahaney, Malcolm Ethridge Organizations: CIC Wealth

☆ Here are Thursday's biggest analyst calls: Apple, Qualcomm, Roku, Etsy, Roblox, Robinhood, Sunrun and more
▼ + stars: | 2023-08-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

TD Cowen upgrades Ross to outperform from market perform TD Cowen said consensus is "underestimating [a] margin recovery" for Ross. TD Cowen downgrades Columbia to market perform from outperform TD Cowen said demand looks muted for Columbia Sportswear . Bernstein downgrades Etsy to market perform from outperform Bernstein said it's concerned about slowing growth. Piper Sandler reiterates Crocs as overweight Piper Sandler said the shoe company is "underpinned by +DD [double digit] earnings growth and compelling valuation." Citi reiterates Apple as buy Citi said it's standing by its buy rating heading into Apple earnings after the bell.

Persons: TD Cowen, Ross, Cowen, Bernstein, Etsy, it's, Piper Sandler, Crocs, CROX, QCOM, Jefferies, Simon, Telsey, Roblox, Morgan Stanley, Robinhood, Janney, Coke Organizations: TD Cowen downgrades Columbia, Columbia, Buyers, Citi, Deutsche Bank, Qualcomm, Apple, Simon, Bank of America, UBS, Costco Locations: underperform, Wingstop, 1Q22

☆ Why the World Health Organization's re-branding of aspartame as carcinogenic isn't a threat to soft drink makers
▼ + stars: | 2023-08-03 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Beverage analysts don't see a threat to diet soda makers from the World Health Organization's recent warning on artificial sweetener aspartame. But giants in the beverage industry that use aspartame, including Coca-Cola and Pepsi , are so far unfazed. Because the WHO didn't change the consumption limit on aspartame products, the new findings aren't likely to threaten soft drink makers, according to Citi analyst Filippo Falorni. For example, the WHO's says an adult weighing around 154 pounds should drink no more than 14 cans of diet soda each day to avoid health concerns. KO PEP YTD mountain Both soda stocks have been little fazed by the World Health Organization's recent concerns over aspartame.

Persons: Filippo Falorni, Falorni, we've, Robert Ottenstein Organizations: Beverage, Health, United Nations, U.S . Food, Drug Administration, Pepsi, Cola, WHO, Citi, World Health, Evercore ISI, Coke Locations: U.S

☆ Here's the trade on Amazon heading into earnings, according to analysts
▼ + stars: | 2023-08-03 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Wall Street analysts are bullish on Amazon heading into earnings. Here's how several analysts are trading Amazon ahead of its latest earnings report. Bank of America is also bullish, maintaining its buy rating and $154 price target into earnings, which suggests roughly 20% upside. "We continue to see an attractive set-up on the stock based on our Triple Trough Thesis (trough multiple, trough margin, and trough revenue growth). On Monday, the firm reiterated its buy rating and $145 price target, which suggests 13% upside from Wednesday's close.

Persons: StreetAccount, Morgan Stanley, Brian Nowak, Nowak, Lloyd Walmsley, Walmsley, Justin Post, Amazon's, Mark Mahaney's, Mahaney, — CNBC's Michael Bloom Organizations: Amazon Web Services, UBS, Bank of America, AWS, Triple, Citi Locations: 1Q23

☆ Evercore's David Palmer on the state of the U.S. consumer
▼ + stars: | 2023-08-02 | 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 EmailEvercore's David Palmer on the state of the U.S. consumerDavid Palmer, restaurant and packaged food analyst at Evercore ISI, joins 'Squawk on the Street' to discuss Starbucks' strong demand in China, the state of the U.S. consumer, and more.

Persons: David Palmer Organizations: Evercore ISI, Starbucks Locations: China

☆ Summer rally winners are showing cracks, Evercore's Julian Emanuel warns
▼ + stars: | 2023-07-31 | by ( Melissa Lee | ) 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 EmailSummer rally winners are showing cracks, Evercore's Julian Emanuel warnsJulian Emanuel, Evercore ISI Sr. Managing Director, joins 'Fast Money' to break down the latest market moves with CNBC's Melissa Lee and the Fast Money traders.

Persons: Evercore's Julian Emanuel, Julian Emanuel, Evercore, CNBC's Melissa Lee Organizations: Fast Money

☆ Here are Monday's biggest analyst calls: Apple, Nvidia, Tesla, Amazon, Chevron, Walmart, Adobe & more
▼ + stars: | 2023-07-31 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Monday's biggest calls on Wall Street: Goldman Sachs upgrades Chevron to buy from neutral Goldman said it sees a cash flow inflection for the oil and gas giant. Morgan Stanley names Keurig Dr Pepper a top pick Morgan Stanley said the beverage giant is its new top pick. Morgan Stanley reiterates Walmart as overweight Morgan Stanley said Walmart+ continues grow and gain new members. Morgan Stanley downgrades Salesforce to equal weight from overweight Morgan Stanley said positive catalysts are in the "rear-view mirror" for the stock. Morgan Stanley upgrades Adobe to overweight from equal weight Morgan Stanley said in its upgrade of Adobe that it sees generative AI driving creativity.

Persons: Goldman Sachs, Goldman, Bernstein, Morgan Stanley, Dr Pepper, Jefferies, Carvana, there's, Cowen, Piper Sandler, Apple, Piper, JPMorgan downgrades, it's, Ford, Oppenheimer, Evercore, Morgan Stanley downgrades Salesforce, Tesla Organizations: Chevron, Nvidia, Apple, Walmart, JPMorgan, JPMorgan downgrades Penske, " Bank of America, Hasbro, of America, Deutsche Bank, York Community, Deutsche, RBC, CSX, Electric, GE, Triple, SG, Wayfair, Suisse, UPS, Credit Suisse, Teamsters, Adobe, Barclays, EV, Detroit Locations: China, York

☆ Focus: Drugmakers go under the skin, skirting early US Medicare price negotiations
▼ + stars: | 2023-07-28 | by ( Michael Erman | ) www.reuters.com time to read: +5 min

Each year, Medicare will add more drugs to the list, the names of which have not yet been disclosed. Faspro, launched in 2020, already accounts for more than 80% of Darzalex revenue, which is due to rise to $9.5 billion this year. Merck previously told Reuters it expects this version of Keytruda could replace the more time consuming infusion for most patients. Keytruda revenue is expected to top $24 billion this year and could exceed $30 billion as soon as 2026, according to analyst estimates. The company has said its expects revenue from subcutaneous drugs containing hyaluronidase to drive its growth going forward.

Persons: Srdjan, Johnson, drugmakers, Bristol Myers, Roche, Biden’s, Michael DiFiore, DiFiore, Joseph Wolk, Faspro, Halozyme, Helen Torley, hyaluronidase, Michael Erman, Patrick Wingrove, Caroline Humer, Bill Berkrot Organizations: U.S, REUTERS, Wall Street, Merck & Co, Halozyme Therapeutics, Reuters, Bristol, Bristol Myers Squibb, Medicare, U.S . Centers, Medicaid Services, J, Reuters Graphics Merck, Merck, Thomson Locations: Ljubljana, Darzalex, Diego

☆ Enphase Energy slumps as lukewarm US demand weighs on revenue forecast
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +2 min

July 28 (Reuters) - Shares of Enphase Energy (ENPH.O) slumped nearly 11% on Friday, after the solar inverter maker's third-quarter revenue target fell well short of analyst estimates due to weak demand. The Fremont, California-based company forecast revenue between $550 million and $600 million for the quarter ending Sept. 30, compared with analysts' estimate of $746.5 million. Therefore, we are taking aggressive and prudent actions in the U.S. to manage down the channel inventory," said Enphase Energy CEO Badrinarayanan Kothandaraman. Enphase also announced a new $1 billion share buyback plan, which failed to stem the share selloff. Reporting by Medha Singh and Mrinalika Roy in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Badrinarayanan Kothandaraman, Wells Fargo, Enphase, Medha Singh, Mrinalika Roy, Krishna Chandra Organizations: Enphase Energy, SolarEdge Technologies, Thomson Locations: United States, Texas, Arizona, Fremont , California, U.S, Bengaluru

☆ Meta rallies as AI-powered ad sales drive 'monster' forecast
▼ + stars: | 2023-07-27 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

While Meta's 12% rise in second-quarter ad revenue surpassed the 3% growth at Alphabet's Google, earnings reports from both the digital ad behemoths reinforced a recovery in the sector. Smaller rival Snap (SNAP.N), however, disappointed on ad sales as advertisers stick to tried and true platforms. CEO Mark Zuckerberg said Reels now has an annual revenue run rate exceeding $10 billion, up from $3 billion last fall. Unsurprisingly, Reels monetization keeps improving," said Morningstar analyst Ali Mogharabi. "There is an element of uncertainty in CapEx spending growth for 2024.

Persons: Mark Shmulik, Bernstein, Mark Zuckerberg, Ali Mogharabi, Mark Mahaney, Aditya Soni, Saumyadeb Organizations: Google, Meta, Reuters Graphics, Evercore ISI, Thomson Locations: Bengaluru

[1/2] European Central Bank (ECB) President Christine Lagarde speaks to the media following the Governing Council's monetary policy meeting at ECB headquarters in Frankfurt, Germany, July 27, 2023. The Bank of England is expected to raise rates again next week following similar positive inflation news. Meanwhile on Friday, the Bank of Japan opened the debate on plans to bring its ultra-loose policies to an end. The Fed's benchmark overnight interest rate now stands in the 5.25%-5.50% range, while the ECB's main rate is 3.75%. While bond markets took a cue from the faster growth, and pushed yields on Treasuries higher, the days of coordinated global tightening may be numbered.

Persons: Christine Lagarde, Kai Pfaffenbach, Jerome Powell, Powell, Lagarde, Krishna Guha, Howard Schneider, Francesco Canepa, Balazs Koranyi, Leika, Dan Burns, Paul Simao Organizations: European Central Bank, ECB, REUTERS, WASHINGTON, U.S . Federal Reserve, The Bank of England, Bank of Japan, Reuters, U.S, Graphics, Thomson Locations: Frankfurt, Germany, FRANKFURT, TOKYO, Europe, United States, Graphics New, Tokyo

☆ 'Remain fully invested:' Evercore's Emanuel names the stocks set to outperform
▼ + stars: | 2023-07-26 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Evercore ISI's Julian Emanuel says it's time to buy "sector neutral" stocks with earnings momentum but lagging price momentum. Names with earnings momentum Emanuel told CNBC on Tuesday that there's a group of stocks whose earnings momentum is "superior to peers." "We recommend remaining fully invested, shifting focus to a sector neutral quant screen of stocks whose EPS momentum is better than peers yet whose price momentum lags since the March inflection to Maximum Momentum," he wrote in a July 23 note. "Such 'Earnings Mo' to Price Mo'" stocks could be expected to outperform as price momentum leaders 'cool off,'" he wrote. But he said that the long-term story is "exceptionally robust," thanks to an expected "productivity boost" from China.

Persons: Evercore, Julian Emanuel, Emanuel, Price Mo, CNBC's Organizations: CNBC, Deere & Co Energy, Cheniere Energy, Alnylam Pharmaceuticals Communication, Pinterest, Eversource Locations: China

☆ It's important the Fed signals it has a high bar for cutting rates, says Harvard's Jason Furman
▼ + stars: | 2023-07-26 | 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 EmailIt's important the Fed signals it has a high bar for cutting rates, says Harvard's Jason FurmanJason Furman, Fmr. Council of Economic Advisers Chairman and Krishna Guha, Evercore ISI Vice Chairman, join 'Closing Bell Overtime' to talk the Federal Reserve's decision to raise rates another 25 basis points.

Persons: Harvard's Jason Furman Jason Furman, Krishna Guha, Evercore Organizations: Fmr, Economic

☆ Internet advertising bounce back is 'Meta specific', says Evercore ISI's Mark Mahaney
▼ + stars: | 2023-07-26 | 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 EmailInternet advertising bounce back is 'Meta specific', says Evercore ISI's Mark MahaneyMark Mahaney, Evercore ISI Head of Internet Research, joins 'Closing Bell Overtime' to talk Meta's quarterly earnings.

Persons: Evercore, Mark Mahaney Mark Mahaney Organizations: Internet Research

☆ Investors are now comfortable with the higher-for-longer narrative, says Evercore ISI's Emanuel
▼ + stars: | 2023-07-25 | 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 EmailInvestors are now comfortable with the higher-for-longer narrative, says Evercore ISI's EmanuelJulian Emanuel, Evercore senior managing director, joins 'Squawk on the Street' to discuss Emanuel's price targets for the S&P 500, downside risks to the markets, and much more.

Persons: Evercore ISI's Emanuel Julian Emanuel, Evercore Organizations: Investors

☆ Evercore ISI's Stephen Kim bullish bet on homebuilders as inventories remain low
▼ + stars: | 2023-07-25 | 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 EmailEvercore ISI's Stephen Kim bullish bet on homebuilders as inventories remain lowStephen Kim, Evercore ISI, joins 'Power Lunch' to discuss the state of the housing market and if it's safe to bet on homebuilders.

Persons: Stephen Kim bullish, Stephen Kim Organizations: ISI

☆ Here are Monday's biggest analyst calls: Apple, Tesla, Meta, Nvidia, Shopify, Netflix, Disney & more
▼ + stars: | 2023-07-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Goldman Sachs initiates Amylyx Pharmaceuticals as buy Goldman said it sees an attractive entry point for shares of the biotech company. " Goldman Sachs reiterates Nvidia as buy Goldman said it's standing by its buy rating on Nvidia and that it likes stocks with "room for meaningful positive EPS revisions." UBS downgrades Tesla to neutral from buy UBS said in its downgrade of Tesla that strong growth is already priced in. Goldman Sachs initiates Savers Value Village as buy Goldman said the thrift store operator is a share gainer. Goldman Sachs reiterates ServiceNow as buy Goldman said it sees more upside in shares of ServiceNow as the stock remains a key beneficiary.

Persons: Piper downgrades Estee Lauder, Piper, Baird, Goldman Sachs, Goldman, Wells, Evercore, it's, Stifel, Lam, Tesla, Moffett, Rosenblatt, Raymond James, Becton Dickinson, SLB, Horton, BTIG, Needham, ServiceNow Organizations: Express, Netflix, Amylyx Pharmaceuticals, Bank of America, NTR, RBC, Research, Nvidia, MU, UBS, Semiconductor, Deutsche Bank, Apple, Deutsche, Mac, Med Tech, Schlumberger, Disney, DIS, American Express Locations: China, underperform, ServiceNow

July 24 (Reuters) - Threads, Meta Platform's (META.O) broadside to Twitter, is seen by some advertisers as less contentious and more predictable than Elon Musk's platform, and analysts say it could lure away marketing budgets - eventually. But analysts have forecast lofty ad spending targets - with the caveat that they depend on whether users stick on. If the app manages to retain users, Threads could achieve $5 billion in annual ad revenue, equaling what Twitter earned in 2021, Bernstein said in a note on July 18. Morningstar analysts said on July 11 that Threads could add between $2 billion and $3 billion to Meta's revenue every year between 2024 and 2027. Evercore ISI analysts estimated on July 9 that Threads could generate $8 billion in annual revenue by 2025, a small portion of the $156 billion revenue analysts expect for Meta that year, according to Refinitiv.

Persons: Musk, Bernstein, Taylor Michelle Gerard, Matt Yanofsky, Meta, Andrew La Fond, Mark Zuckerberg, Zuckerberg, Liz Bartges, Akash Sriram, Samrhitha, Sheila Dang, Sayantani Ghosh, Rosalba O'Brien Organizations: Elon Musk's, Morningstar, Evercore, Meta, Facebook, Blue Hour, influencers, Twitter, Nike, Reuters, FerebeeLane, Thomson Locations: Bengaluru, Dallas

☆ Every Hollywood company is having a terrible summer except Netflix, whose global content machine should help it ride out the actors' strike: 'They just aren't worried'
▼ + stars: | 2023-07-24 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

But one company that doesn't seem to be sweating it too much is Netflix. And for all of June , Netflix signed up 3.5 million subscribers, the service's best month since Antenna started measuring it. Netflix's robust global content machine should also help it ensure subscribers still see plenty of fresh content during the strike, at least for the near term. Many writers blame Netflix for making it harder to make a living as a result, one of the conditions that led to the strike. Subs growth for Netflix is increasingly coming from overseas, where lower pricing power could cut into its average revenue per user.

Persons: execs, We've, It's, Mark Mahaney, Wedbush, LightShed, gripes, Jefferies Organizations: Netflix, Hollywood, Disney, Warner Bros, Evercore, LightShed Partners, Microsoft Locations: Hollywood, Netflix's

CNN —Soccer players at the 2023 Women’s World Cup will on average earn just 25 cents for every dollar earned by men at their World Cup last year, a new CNN analysis found. In addition to prize money, FIFA committed to paying $42 million to the federations and players’ clubs for Women’s World Cup preparations. Havana Solaun (R) and Jamaica are appearing at their second ever Women's World Cup. But for the players, equal pay encompasses more than simply closing this gap to the salaries enjoyed by male footballers. June 2023 A record $110 million prize pot negotiated for the Women’s World Cup, at least $30,000 guaranteed for every player.

Persons: Gianni Infantino, Sam Kerr, Megan Rapinoe, Alex Morgan, Bob Marley’s, Cedella, Havana Solaun, Brendon Thorne, hadn’t, Jamaica’s Chinyelu Asher, ”, ” Asher, Asher, Saeed Khan, Morgan, Rapinoe, Cristiano Ronaldo, Brad Smith, ” Jonas Baer, Hoffmann, FIFPRO’s, It’s, that’s, –, Infantino, Baer, “, ringfenced, Ali Riley, CNN’s Amanda Davies, Riley, “ It’s, ” Ali Riley, Catherine Ivill, Women’s Soccer Australia Heather Reid, ” Riley, England’s Lionesses, ” FIFPRO’s Baer, – Carli Lloyd, Hope, Becky Sauerbrunn –, ” Lloyd, — Jan, USWNT, Lloyd, ” Reid, ’ Organizations: CNN — Soccer, CNN, FIFA, New Zealand, Women’s, US, National, Australia, Havana, Getty, Jamaica Football Federation, ’, CNN Sport, Forbes, USSF, CONCACAF, Africa, of Nations, Olympic, –, Canada Soccer, teams, Women’s Soccer Australia, English Football Association, French Football Federation, Royal Belgium Football Association, FIFA’s, US Soccer, States Women’s National, Football Federation, USWNT, Soccer, Court, Central, Central District of, The New York Times, LA Times, Guardian, Reuters, “ Locations: Australia, New, New Zealand, Jamaica, Canada, South Africa, Spain, Havana, AFP, France, Infantino, Germany, Iceland, Netherlands, Norway, United States, Qatar, country’s, Sweden, Spanish, England, Central District, Central District of California, Canadian, El, China

☆ How Netflix can end the Hollywood strike in a way Disney, Paramount can't afford
▼ + stars: | 2023-07-20 | by ( Tim Mullaney | ) www.cnbc.com time to read: +10 min

"The strike is not something we wanted," said Sarandos, whose company is negotiating jointly with competing movie studios like Disney and Paramount whose parent companies also own streaming services. Some big-media companies that own streaming services, like Paramount and Disney, have seen their shares drop even in the renewed bull market of the past year. LightShed Partners analyst Rich Greenfield says Netflix made $6.5 billion last year excluding interest, taxes, and non-cash charges, while rival streaming services at Paramount, Disney and NBC lost more than $8 billion. That's a relatively small number for an industry with revenues topping $70 billion, $31.6 billion of it last year at Netflix. Paramount Global's Paramount+ service lost $1.8 billion last year, but saw losses shrink in the first quarter.

Persons: Mike Blake, Mark Mahaney, Ted Sarandos, Greg Peters, Michael Pachter, Robert Iger, Iger, CNBC's David Faber, Max, Rich Greenfield, Mahaney, hasn't, Jake Urbanski, Jamie Lumley, Peters, Spencer Neumann Organizations: Guild of America, Netflix, Alliance, Producers, Wednesday, Writers Guild of America, Screen, American Federation of Television, Radio Artists, Disney, Paramount Global, Amazon, Wedbush Securities, Television Producers, CNBC, Walt Disney Co, Sun, Paramount, Warner Bros, LightShed, NBC, Hollywood, Moody's Investors Service, Writers ' Guild of America, WGA, Twitter, Hulu, Comcast, Apple Locations: Los Angeles , California, U.S

☆ The one piece of news from Tesla’s earnings report that’s got analysts buzzing
▼ + stars: | 2023-07-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Tesla 's plan to share its full self-driving capabilities with original equipment manufacturers has Wall Street analysts talking. TSLA 1D mountain Tesla shares fall after second-quarter earnings The comments from Musk came after Tesla topped second-quarter earnings expectations but showed margin weakness due to recent price cuts. Despite these near-term margin concerns , Morgan Stanley's Adam Jonas highlighted the FSD commentary as his biggest takeaway from the call. He did, however, stress some logistical concerns, including whether Tesla would need "greater involvement" in full software system of its peers. "A potential licensing of FSD would represent an important change of scope in how investors measure the TAM for Tesla."

Persons: Tesla, Elon Musk, we're, Musk, Morgan Stanley's Adam Jonas, Jonas, Goldman Sachs, Mark Delaney, Evercore ISI's Chris McNally, Canaccord, George Gianarikas, — CNBC's Michael Bloom Organizations: Wall, TAM, Tesla

☆ Etsy made 2 massive acquisitions at peak tech valuations. Two years and a $1 billion write-off later, it has buyer's remorse as it sells Elo7.
▼ + stars: | 2023-07-19 | by ( Madeline Stone | ) www.businessinsider.com time to read: +5 min

Etsy bought Elo7 and Depop at a time when tech valuations were sky-high. Etsy disclosed that it had sold Elo7, the Brazilian online marketplace it acquired in July 2021 for $217 million, to fellow Brazilian online marketplace Enjoei for an undisclosed amount. What's next for Etsy's portfolio of brandsFollowing the sale of Elo7, Etsy's portfolio will include its main marketplace, Depop, and Reverb, an online marketplace for musical instruments. But like Elo7, Depop has had some challenges with growth once the pandemic-related e-commerce boom ended, and it is also not profitable. "They're running Depop very similarly to how they run the Etsy marketplace platform," Khajuria said.

Persons: Etsy, Josh Silverman, Elo7, they've, Bernstein, Nikhil Devnani, Shopify, Devnani, What's, Depop, Kruti Patel Goyal, Khajuria Organizations: Evercore ISI, SEC, Elo7, Analysts Locations: Brazil, Latin America, Europe

☆ Here are Wednesday's biggest analyst calls: Apple, AT&T, Tesla, Amazon, Meta, Microsoft, Spotify and more
▼ + stars: | 2023-07-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan adds Qualcomm and HP Inc. to the focus list JPMorgan added HP Inc. to the focus list and said it's a top value idea. The firm also added Qualcomm to the focus list and says it's a top growth idea. JPMorgan adds Charles Schwab to the focus list JPMorgan added the stock to its focus list after its earnings report and said it sees "improving fundamentals." Bank of America reiterates Amazon as buy Bank of America said it's bullish heading into Amazon earnings later this month. Bank of America reiterates Block as buy Bank of America said shares of the company formerly known as Square are undervalued.

Persons: Tesla, it's, Charles Schwab, Schwab, Jefferies, Berkshire Hathaway, Archer, Guggenheim, ServiceNow Organizations: JPMorgan, Qualcomm, HP Inc, Watch, Cisco, " Bank of America, of America, Bank of America, Meta, UBS, Berkshire, Citi, Republic Services, Hollywood, Argus, Street, Aviation, UW, DuPont, Texas, Microsoft, Apple Locations: 2023E, 2025E, Berkshire, ACHR, EE

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