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☆ Stocks making the biggest moves premarket: GameStop, Stericycle, MarineMax, Paramount and more
▼ + stars: | 2024-06-03 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Waste Management , SteriCycle — Shares of medical waste-disposal company Stericycle jumped 16% after Waste Management agreed to buy the company for $7.2 billion. Waste Management fell 1.5%. MarineMax — MarineMax, a recreational boat and yacht services company, popped 19% on a report that OneWater Marine is in talks to buy the company for $40 a share in cash. Boston Beer Company — Shares slid 11% after Bloomberg reported that Japanese brewer and distiller Suntory denied it's in talks to buy the Samuel Adams owner. Paramount Global — Shares added more than 6% after Skydance Media revised its buyout offer for Paramount and gave nonvoting shareholders an option to cash out Paramount Class B shares at a roughly 26% premium to Friday's close.

Persons: Keith Gill, Kitty, Stericycle, —, Cava, Rubin, Blackwell, it's, Samuel Adams, Alex Harring, Brian Evans, Michelle Fox Theobald Organizations: GameStop, AMC Entertainment, AMC, Waste Management, Bloomberg, JPMorgan, Nvidia, AMD, Monday, Sunday, Bank of America, Boston Beer, Suntory, Street, Citi, Spotify, GSK, Autodesk — Autodesk, Paramount, Skydance Media Locations: Cava, Taipei, U.S, Delaware

☆ How to find financial happiness if you're suffering from lifestyle creep, according to a Harvard professor
▼ + stars: | 2024-06-02 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

Harvard professor Arthur Brooks emphasized curbing bad spending habits for financial happiness. Brooks noted that rising credit card debt is affecting the financial well-being of many Americans. AdvertisementBestselling author and Harvard professor Arthur Brooks believes that achieving financial happiness isn't solved by chasing extra income but by curbing bad spending habits. AdvertisementBorrowing for consumption is the most damaging financial habitBrooks pointed to the recent rise in credit card debt as a factor that affects many people's financial happiness. Credit card debt has become a crisis in the US following the pandemic when many Americans used up their savings.

Persons: Arthur Brooks, Brooks, — Organizations: Service, Harvard Kennedy School, Harvard Business School, JPMorgan Chase, JPMorgan Chase Co

☆ China’s growing e-commerce market is creating a new set of winners
▼ + stars: | 2024-06-02 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

"Improving domestic ecommerce market share should lead to better monetization eventually," Yao said. The investment firm expects Douyin to match PDD's market share of 21% next year, and surpass it by reaching 22% in 2026. Tencent's WeChat Video Account platform is expected to retain about 2% to 3% of GMV market share through 2026, the Goldman analysis said. The video streaming platform last month reported e-commerce GMV grew by 28.2% year-on-year in the first quarter to 288.1 billion yuan ($40,55 billion). The firm forecasts Kuaishou's e-commerce GMV revenue will grow by 25% this year, although livestreaming revenue — which has accounted for about a third of total revenue — is expected to drop due to a high base.

Persons: James Yang, Bain, Joe Tsai, Emily Tan, Yang, Alibaba, Goldman Sachs, Ronald Keung, David Ma, China's, Morgan Stanley, Eddy Wang, Kenneth Fong, JD, David Beckham, Alex Yao, monetization, Yao, Tmall's GMV, Douyin, Alibaba's, Tencent's, Goldman, Sophie Huang, — CNBC's Michael Bloom Organizations: Bain and Company, PDD Holdings, Goldman, UBS, JPMorgan China, ByteDance, Hong Locations: China, Hong Kong, Asia, U.S, Alibaba, 2Q24, 2Q24E

☆ Warren Buffett's Berkshire Hathaway owns 3% of the entire T-bill market, JPMorgan estimates
▼ + stars: | 2024-06-02 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Berkshire Hathaway 's purchase of Treasury bills has been so aggressive that the Warren Buffett-controlled conglomerate now owns 3% of the entire bill market, according to JPMorgan. With short-term rates topping 5%, his massive cash pile, which had been an area of concern when rates were near zero, is now earning Berkshire a substantial return. The investment legend recently said he finds cash attractive compared to other assets, especially stocks. Berkshire's cash position may top $200 billion at the end of the second quarter, he added. "I don't mind at all, under current conditions, building the cash position," he said at Berkshire's shareholder confab.

Persons: Berkshire Hathaway, Warren Buffett, Buffett, I've Organizations: JPMorgan, Oracle, Berkshire, Treasury, Federal Reserve, Fed Locations: Berkshire, Omaha

☆ A 32-year market vet shares 2 charts showing stocks could be entering a major market peak — and warns a coming recession will send the S&P 500 plummeting more than 60%
▼ + stars: | 2024-06-01 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

It's been a near-frictionless seven months for the S&P 500, with the benchmark index up a cool 26% since late October. While earnings were just fine in the first quarter, if they start to decline alongside a slowing economy, stocks will go with them. He sees the S&P 500 declining by more than 50% when all is said and done. The current inversion of 580 days implies a drop of around 65% for the S&P 500. Those fears have since dissipated, and the S&P 500 has rallied 47% since October 2022.

Persons: It's, Jon Wolfenbarger, Merrill Lynch, BullAndBearProfits.com Wolfenbarger, Wolfenbarger, Bullandbearprofits.com Wolfenbarger, Jeremy Grantham, Marko Kolanovic, Albert Edwards Organizations: Service, JPMorgan, Fed, OVOM

☆ U.S. crude oil on pace for worst month of year ahead of weekend OPEC+ meeting
▼ + stars: | 2024-05-31 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

An offshore oil platform is seen at sunset near Huntington Beach, California, on Feb. 9, 2024. U.S. crude oil was on pace Friday for its worst month of the year, ahead of an OPEC+ meeting this weekend during which the cartel will review its production levels. Here are today's energy prices:OPEC+ members on Sunday are expected to review voluntary output cuts of 2.2 million barrels per day. Oil market analysts generally agree that the group will likely keep those cuts in place. Chinese refiners' output has also slumped, and European refiners have been slow to return from spring maintenance, which has also pressured demand, according to the investment bank.

Persons: Helima Croft Organizations: Brent, Sunday, RBC Capital Markets, JPMorgan Locations: Huntington Beach , California, U.S

☆ More than 300 interns at Citadel and Citadel Securities start next week. Here's how Ken Griffin's firms ramped up their program and recruiting.
▼ + stars: | 2024-05-31 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +6 min

Read previewIn the fierce fight for the best and brightest across finance, tech, and more, Ken Griffin's Citadel and Citadel Securities have expanded their pursuit of the freshest talent. There's a growing awareness from top students about finance beyond the big-name banks, according to Fabian Figi, Citadel Securities' head of campus recruiting. Citadel Securities also holds a Ph.D. summit, where advanced graduate students can present their research to firm leaders. Citadel Securities CEO Peng Zhao. Tina Lu, a former Citadel Securities intern at the Wisconsin bubble, said it's a hallmark of the firm to let people prove themselves.

Persons: —, Ken Griffin's, It's, We've, Matt Mitro, Goldman Sachs, There's, Fabian Figi, Griffin, Citadel's, Figi, Shehan Suresh, Peng Zhao, Suresh, Tina Lu, I've, Lu, Mitro Organizations: Service, Citadel Securities, Business, Citadel, JPMorgan Chase, New, MIT, Stanford, Georgia Tech, University of Texas, Carnegie Mellon, Oxford, Harvard, Ivy League Locations: Wisconsin, New York, Miami, Chicago, Penn, Harvard, Fort Lauderdale

Citi, meanwhile, initiated Lionsgate Studios with a buy rating. JPMorgan did lower its price target on Viasat to $23 per share from $30. The analyst reiterated his buy rating, noting that AI adoption is still in the early stages. The bank initiated coverage of the TV and movie studio with a buy rating. Its price target of $14 implies upside of more than 73% from Thursday's close.

Persons: Felix Liu, — Lisa Kailai Han, Sebastiano Petti, Petti, — Jesse Pound, Oppenheimer, Tyler Batory, Batory, — Hakyung Kim, Wynn, Vitaly Umansky, WYNN, Umansky, Wolfe, Eddie, Bill Carrache, Dell Dell, Wamsi Mohan, Dell, Mohan, Goldman Sachs, Michael Ng, Ng, Morgan Stanley, we're, Erik Woodring, Woodring, Jason Bazinet, LION, COVID, Fred Imbert Organizations: CNBC, Dell Technologies, Lionsgate Studios, Citi, UBS, JPMorgan, Viasat, Homes, Wynn Resorts, Seaport Research Partners, Wolfe Research, Third Bank Regional, Dell, Bank of America, DELL, Lionsgate Entertainment, Starz Locations: Bilibili, China, Viasat, Macau, Las Vegas, Vegas, Wall, Thursday's

☆ Shares of Dell fall 16% as AI servers are sold at 'near-zero margins'
▼ + stars: | 2024-05-31 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Shares of Dell Technologies fell more than 16% Friday after investors were discouraged by the company's lower-than-expected artificial intelligence server backlog and an estimated decline in margins. Bernstein analysts said the "principle disappointment" in Dell's results was that operating margins for its Infrastructure Solutions Group compressed year over year. Additionally, operating profits were flat compared with the same period last year, even though the company brought in around $1.7 billion in incremental AI server revenues. The analysts said this resurfaced concerns that Dell's AI servers are being sold at "near-zero margins." Bank of America analysts said Dell reported a strong quarter, and they reiterated their buy rating on the stock.

Persons: Michael Dell, Dell, FactSet, Bernstein, — CNBC's Michael Bloom, Kif Leswing Organizations: Dell Technologies, MWC, Mobile World Congress, Fira, Gran, Dell, Infrastructure Solutions, Bank of America, JPMorgan Locations: L'Hospitalet de Llobregat, Barcelona, Catalonia, Spain

☆ These are JPMorgan's 11 must-read books for the summer, from AI to Formula 1
▼ + stars: | 2024-05-31 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

JPMorgan just published its 25th annual summer reading list. The bank suggests 11 titles it believes capture a world experiencing "radical shifts." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . JPMorgan Asset and Wealth Management's chief communications officer Darin Oduyoye touted the bank's picks as an attempt to capture a world experiencing "radical shifts." This story is available exclusively to Business Insider subscribers.

Persons: Matt Damon, —, Darin Oduyoye Organizations: JPMorgan, Service, Wealth, Business

☆ Here are Friday's biggest analyst calls: Tesla, Nvidia, Apple, Rivian, Nio, Costco, Qualcomm
▼ + stars: | 2024-05-31 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Wells Fargo reiterates Nvidia as overweight Wells said it's standing by shares of Nvidia. Bank of America reiterates Apple as buy Bank of America said it's bullish on an iPhone with artificial intelligence features. "We maintain our Buy rating on Apple for its multi-year upgrade cycle, gross margin upside and secular services growth." Bank of America reiterates Dell as buy Bank of America said it's sticking with its buy rating on the stock following earnings. Morgan Stanley reiterates Nio as overweight Morgan Stanley said it's standing by its overweight rating on shares of Nio.

Persons: Oppenheimer, Morgan Stanley, Wells, Wynn, it's, Jefferies, Tesla, Dell, Wolfe, Alex Chriss, Rivian, Nio, robustly, Cantor Fitzgerald, Cantor, Rosenblatt Organizations: Beazer, Nvidia, MGM, " Bank of America, Apple, Bank of America, Edison International, Qualcomm, JPMorgan, Banks, PayPal, New, Citi, Lionsgate, Lionsgate Studios, UBS, Tesla, Resilience Locations: Macau, Las Vegas, California, Cincinnati, China, Nio, NetApp

☆ Final Trades: Corning, Apple, JPMorgan and the Russel 2000
▼ + stars: | 2024-05-30 | 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 EmailFinal Trades: Corning, Apple, JPMorgan and the Russel 2000The Investment Committee give you their top stocks to watch for the second half.

Persons: Russel Organizations: JPMorgan Locations: Apple

☆ Apollo CEO Marc Rowan defends private credit from Jamie Dimon, saying shadow banking 'makes the system safer.'
▼ + stars: | 2024-05-30 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +5 min

Tighter bank lending means more opportunities for private lenders to lend and make outsize returns on their loans. Financial industry titans Jamie Dimon and Marc Rowan have been trading opposing views on the burgeoning sector for the last year. Last year, Rowan responded to Dimon's comments that higher capital requirements for banks had private lenders like Apollo "dancing in the streets." AdvertisementRowan on Thursday responded by saying that the private-credit industry helps reduce systemic risk caused by the traditional banking industry. "Jamie is an amazing representative of the banking industry," Rowan said.

Persons: —, Jamie Dimon, Marc Rowan, Dimon, JPMorgan Chase, Rowan, Apollo, Jamie, Blackstone, — I've, Bernstein, Dimon's Organizations: Service, Financial, JPMorgan, Business, Bank of America Global Research, Apollo Locations: New York City

☆ Analysts defend Salesforce, saying the sell-off is overdone and AI impact is ahead
▼ + stars: | 2024-05-30 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Even a sharp sell-off in Salesforce stock Thursday — down as much as 21% intraday — isn't keeping some analysts on Wall Street from sticking with their optimistic outlooks on the maker of customer relationship management software. Salesforce executives tied the disappointing results to elongated deal cycles throughout the first quarter that hit the company's booking schedule. Weiss reiterated an overweight rating on Salesforce, albeit with a $320 per share price target, down from $350. Goldman Sachs analyst Kash Rangan reiterated a buy rating on Salesforce stock, but lowered his price target to $315 per share from $345. The analyst reiterated an overweight rating on the stock with a $300 per share price target, or about 10% upside from yesterday's close.

Persons: Goldman Sachs, Morgan Stanley, JPMorgan Chase, Keith Weiss, Weiss, Kash Rangan, Rangan, Mark Murphy, Tyler Radke, Radke Organizations: Wall, JPMorgan, Citigroup Locations: Salesforce, CY25

☆ Bank of America CEO says U.S. consumers and businesses have turned cautious on spending
▼ + stars: | 2024-05-30 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

U.S. consumers and businesses alike have turned cautious on spending this year because of elevated inflation and interest rates, according to Bank of America CEO Brian Moynihan. That's a sharp slowdown from the nearly 10% growth rate seen in May 2023, he said. Referring to consumers and businesses, Moynihan said: "Both of our customer bases that have a lot to do with how the American economy runs are saying, 'You know what? The same is true for small- and medium-sized businesses, the Bank of America CEO said. Moynihan and other bank CEOs have a birds-eye view of the economy, given their coast-to-coast coverage of households and companies.

Persons: Brian Thomas Moynihan, Brian Moynihan, Moynihan, That's, We've, They're, JPMorgan Chase Organizations: of America, U.S . Senate Banking, Housing, Urban Affairs, Wall, Capitol, Bank of America, The Fed, U.S, JPMorgan, Fed Locations: Washington , U.S, New York, McDonald's, U.S

☆ These S&P 500 stocks are cheap and well-liked by analysts heading into June
▼ + stars: | 2024-05-30 | by ( Pia Singh | ) www.cnbc.com time to read: +8 min

The company has a low forward price-to-earnings ratio of roughly 8.6. Ulta Beauty also made the screen as a cheap stock that analysts are bullish on. The stock has a 14.5 forward price-to-earnings ratio and a consensus buy rating from analysts polled by FactSet. Online pickup orders inside an Ulta Beauty store in the Upper East Side neighborhood in New York, US, on Monday, Nov. 27, 2023. The stock has a 14.5 forward price-to-earnings ratio and a consensus buy rating from analysts polled by FactSet.

Persons: Jefferies, Trevor Williams, We're, FactSet, Stifel, Ulta, General Motors, Bing Guan Organizations: Dow Jones, Nasdaq, CNBC, Financial, Global Payments, Jefferies, JPMorgan, Cadillac, Chevrolet, General, FedEx, Halliburton, Gilead Sciences, CVS Health, Bloomberg, Getty, CVS, Epam, Motors, HAL Halliburton, Resorts, JBL, LKQ, Vegas Sands Corp, MGM MGM Resorts International, LSEG Financial, Inc Locations: Gilead, New York

☆ Here are Thursday's biggest analyst calls: Apple, Nvidia, Salesforce, Amazon, Okta, Eli Lilly, Cava, PayPal & more
▼ + stars: | 2024-05-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Goldman Sachs initiates Abbott Labs as buy Goldman said Abbott is well positioned for growth. UBS reiterates Apple as neutral UBS said its checks show iPhone pressure remains in China and the U.S. for Apple. Goldman Sachs reiterates Eli Lilly as neutral Goldman raised its price target on Eli Lilly to $785 per share from $740. Goldman Sachs reiterates Salesforce as buy Goldman said it's sticking with the stock following earnings on Wednesday. Goldman Sachs initiates AstraZeneca, Novartis and Novo Nordisk as buy Goldman initiated several biotech company's on Thursday and says it sees "innovation momentum a key focus."

Persons: Baird, OKTA, Goldman Sachs, Abbott, Goldman, Piper Sandler downgrades Cava, Piper, Eli Lilly, Wells Fargo, Wells, Mizuho, Wedbush, Daiwa, Stifel, it's, Salesforce, CRM's, Redburn, Guggenheim, Generac Organizations: UBS, Apple, Mizuho, PayPal, Bank of America, Gross, Amicus, USM, First, Deutsche Bank, Deutsche, JPMorgan, Nvidia, Technology, Northland, AstraZeneca, Novartis, Novo Nordisk, of America, TAM, Guggenheim Locations: China, Corning, Northland, 4Q24

☆ These dividend stocks top Thornburg's list — and they are trading at a discount
▼ + stars: | 2024-05-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Investors searching for income can find some bargains in dividend stocks, according to Ben Kirby, co-head of investments at Thornburg Investment Management. Now investors have an added benefit in that dividend stocks are selling at a big discount, he said. When looking for the right dividend stock, Kirby wants companies offering solid balance sheets and free-cash-flow, as well as competitive advantages and sustainable profit margins. Here are some of the stocks Kirby owns in his funds and that he particularly likes right now. If the reductions continue, coupled with the stock's dividend yield, "that alone will drive a pretty competitive return," Kirby said.

Persons: Ben Kirby, Kirby, Jane Fraser, we're, Fraser Organizations: Thornburg Investment Management, Kirby, Depot, Citigroup, JPMorgan Chase, CNBC, Citi, Time Warner

☆ Jamie Dimon says there could be 'hell to pay' if the swelling private-credit market starts showing cracks
▼ + stars: | 2024-05-29 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

"There could be hell to pay" if private credit markets wobble, Jamie Dimon said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementJPMorgan Chase CEO Jamie Dimon said private credit could spark turmoil if the opaque sector of financial markets weakens. The private credit market—a corner of finance dominated by non-bank lenders who originate loans to private businesses—has grown rapidly in recent years. "And the problems in financial markets are often caused by the 'not good one,' the people that make the mistakes."

Persons: Jamie Dimon, —, Dimon Organizations: Service, JPMorgan, Bloomberg

☆ Morgan Stanley picks global stocks to ride the Nvidia boom — and gives 4 more than 50% upside
▼ + stars: | 2024-05-29 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Investor darling Nvidia is dominating headlines once again after its earnings last week surpassed expectations on the back of the artificial intelligence boom. Morgan Stanley notes that the reaction to Nvidia's first quarter results is "very telling on how much buying power still exists in the market." Here are seven of Morgan Stanley's overweight-rated stocks to play these AI themes: Overweight-rated stocks Among Morgan Stanley's list of AI stock opportunities are South Korean tech giant SK Hynix and Taiwanese chipmaker Taiwan Semiconductor Manufacturing Company . SK Hynix stocks are held in the iShares MSCI South Korea ETF (8.4% weight) and Franklin FTSE South Korea ETF (8.3% weight). Shares in TSMC are included in the iShares MSCI Taiwan ETF (25.1% weight) and Franklin FTSE Taiwan ETF (22.2% weight) Beyond the headline-makers, Morgan Stanley also sees potential in Japanese manufacturer Advantest Corp .

Persons: Morgan Stanley, Nvidia's, Hopper, Morgan Stanley's, Morgan, Goldman Sachs, — CNBC's Michael Bloom Organizations: Nvidia, SK Hynix, Taiwan Semiconductor Manufacturing Company, Korea ETF, Franklin FTSE, Franklin FTSE South Korea ETF, Advantest Corp, Japan Equity, JPMorgan BetaBuilders Japan, Alchip Technologies, Technology, Memory Technology, Micronics Locations: Asia, Korean, Korea, Franklin FTSE South, Taiwan, Franklin FTSE Taiwan

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, First Solar, Netflix, Disney, Cava, Dell, Snowflake & more
▼ + stars: | 2024-05-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are the biggest calls on Wall Street on Wednesday: Bernstein reiterates Nvidia as outperform Bernstein said it's sticking with its outperform rating on the stock. " Argus upgrades Berkshire Hathaway to buy from hold Argus said it's getting bullish on shares of Warren Buffett's multinational conglomerate. UBS reiterates First Solar as buy UBS raised its price target on First Solar to $350 per share from $270. Bank of America reiterates Apple as buy Bank of America said it's bullish on top pick Apple and its entry into iPhones with AI. Bank of America reiterates Dell as buy Bank of America raised its price target on Dell to $180 per share from $130.

Persons: Bernstein, Berkshire Hathaway, Argus, it's, Fluence, LBRT, Jefferies, TD Cowen, Medpace, Cowen, Morgan Stanley, JPMorgan, Wells, Baird, MM120, Truist, Dell, Jack Hartung, Cindy Olsen Organizations: Nvidia, Argus, Warren, UBS, Citi, Liberty Energy, United Airlines, Airlines, American Airlines, " Bank of America, Apple, Bank of America, Netflix, Disney, RBC, Eldorado, Eldorado Gold, BTC, Citi downgrades Bank, JPMorgan, Mind, of America, Norwegian Cruise Line Holdings, Dell, Field Locations: Berkshire, U.S, OFS, United, El Paso, Parks, F4Q, CAVA, Chicago

☆ JPMorgan's Michael Rehaut: Homebuying intentions among renters at highest level in six months
▼ + stars: | 2024-05-29 | 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 EmailJPMorgan's Michael Rehaut: Homebuying intentions among renters at highest level in six monthsMichael Rehaut, senior homebuilding analyst at JPMorgan, joins CNBC's 'The Exchange' to discuss outlooks on the housing market, rate moves, and more.

Persons: Michael Rehaut Organizations: JPMorgan

☆ Walgreens announces price cuts on 1,300 items amid ongoing consumer spending fatigue
▼ + stars: | 2024-05-29 | by ( Rob Wile | ) www.cnbc.com time to read: +3 min

Signage is seen outside of a Walgreens, owned by the Walgreens Boots Alliance, Inc., in Manhattan, New York City, U.S., November 26, 2021. Walgreens announced Wednesday it would continue to cut prices on some 1,300 items — the latest company to pivot to value amid signs U.S. consumers are experiencing spending fatigue. "Walgreens understands our customers are under financial strain and struggle to purchase everyday essentials," said Tracey D. Brown, EVP, President, Walgreens Retail & Chief Customer Officer. Lower-income consumers have been cutting back more substantially. Meanwhile, other areas of the economy more closely tied to wealthier consumers continue to outperform, especially travel.

Persons: Tracey D, Brown, we've, Ramon Laguarta, Jamie Baker Organizations: Walgreens, Walgreens Boots Alliance, Inc, Walgreens Retail, Target, Walmart, Conference Board, PepsiCo, American Airlines, JPMorgan Locations: Manhattan , New York City, U.S

☆ CrowdStrike is defying Wall Street negativity on software, says Cramer. What he expects from earnings
▼ + stars: | 2024-05-29 | by ( Paulina Likos | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer said Wednesday he's expecting a strong quarter next week from cybersecurity firm CrowdStrike despite some weakness in other corners of the enterprise software market. Investor sentiment around software has become downbeat, but CrowdStrike is "one company that seems to be immune" to the negativity, Cramer said. In recent days, two Wall Street analysts issued upbeat notes on CrowdStrike. Earnings reports last week from Workday and Intuit added to the questions about the demand environment for enterprise software. Alongside its fiscal 2025 first quarter earnings report last week, Workday cut its full-year forecast for subscription revenue.

Persons: CNBC's Jim Cramer, he's, Cramer, Jim, Morgan Stanley, CrowdStrike Organizations: Investor, Intuit, Wednesday, JPMorgan, Palo Alto Networks Locations: Palo, billings

Meanwhile, JPMorgan upgraded Huntington Bancshares to overweight from neutral, with a price target that implies upside of 31%. Analyst Scott Hanold's $90 price target implies that shares of Civitas could rise 25% from here. These two headwinds combined together could create near-term pressures for the stock by limiting Zscaler's billings growth, the analyst wrote. Nowinski's price target of $182, down from $275, implies the stock could rise 6% from here. The bank upgraded shares of the cruise operator to buy from neutral and lifted its price target to $24 from $21.

Persons: Mizuho, Scott Hanold's, Hanold, — Lisa Kailai Han, Wells, Andrew Nowinski, F4Q24, Nowinski, Patrick Cunningham, Cunningham, Lisa Kailai Han, Andrew Boone, Boone, Max, Duolingo, Ben Chaiken, Jan, Chaiken, Steven Alexopoulos, Alexopoulos, Huntington, Fred Imbert Organizations: CNBC, Cruise Line, JPMorgan, Huntington, RBC, Civitas Resources, RBC Capital Markets, Citi, DuPont DuPont, DuPont, Max, Mizuho, Cruise Locations: DAU, Mizuho, Norwegian, Huntington Bancshares, Columbus , Ohio, Friday's

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