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☆ Super Micro Computer shares were choppy after Nvidia earnings. Here's where analysts see it going
▼ + stars: | 2024-05-28 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Super Micro Computer emerged as an investor darling early this year, as Wall Street unearthed the stock, driving it higher with gains that rivalled even Nvidia's. After Nvidia reported blockbuster earnings last Wednesday, Super Micro's shares were rocky again. The prominence of data centers in the AI boom is another tailwind for Super Micro, BofA noted, given the cooling needs of such centers. BofA reiterated its buy rating on Super Micro, giving it a price target of $1,090, or potential upside of about 23%. In a May 20 note, JPMorgan said it has an overweight rating on Super Micro.

Persons: BofA, Supermicro, Paul Meeks, Meeks, JPMorgan, — CNBC's Michael Bloom Organizations: Micro, Super, Nvidia, Wall, Portfolio Management, CNBC, JPMorgan, Intel, AMD Locations: United States

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

☆ Jim Cramer likes bullish calls on Viking and Airbnb but is cautious on this bank
▼ + stars: | 2024-05-28 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +1 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. "They don't want kids, and they don't want gambling," and that's the appeal of Viking, Cramer said. Airbnb : Shares of the short-term rental company were upgraded to a buy-equivalent outperform rating at Wedbush. Huntington Bancshares : The regional bank stock was upgraded to a buy-equivalent overweight rating at JPMorgan. Cramer said Texas Instruments didn't make the right moves with customers and shareholders and that's why Elliott moved in.

Persons: Jim Cramer's, Mike Sievert, Jim Cramer, initiations, Viking, Cramer, Huntington, Elliott Organizations: CNBC, Club, U.S . Cellular, Mobile, U.S, Cellular, Viking Holdings, JPMorgan, Texas, Elliott Management

☆ Here are Tuesday's biggest analyst calls: Nvidia, Meta, Dell, Amazon, Apple, CrowdStrike, Netflix, Airbnb & more
▼ + stars: | 2024-05-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

UBS upgrades Globant to buy from neutral UBS said it sees "demand stabilization" for the IT and software development company. Wedbush upgrades Airbnb to outperform from neutral Wedbush said investors should buy the dip in shares of Airbnb. Morgan Stanley reiterates CrowdStrike as a top pick Morgan Stanley raised its price target on the stock to $422 per share from $372. Morgan Stanley reiterates Microsoft and Meta as overweight Morgan Stanley said in its analysis of large-cap institutional ownership that Microsoft is most under-owned and Meta the most over-owned. " Morgan Stanley reiterates Amazon as overweight Morgan Stanley said the e-commerce giant has a "widening" competitive advantage. "

Persons: Melius, Truist, Mizuho, Hannifin, it's, Futu, Steve Steinour, Zach Wasserman, Huntington, NCLH, Wells, Morgan Stanley, CrowdStrike, Dell, John Donovan, JMP, Guggenheim Organizations: Nvidia, Parker, Mizuho, Argus, UBS, JPMorgan, NASDAQ, 38ppt, " Bank of America, Bank of America, RBC, Netflix, &, Deutsche Bank, Deutsche, Citi, DuPont, Department of Justice, TAM, Guggenheim, Microsoft, Meta, Apple Locations: Asia, Airbnb, ZS, China

☆ Stocks making the biggest moves premarket: GameStop, Nvidia, Airbnb, Viking and more
▼ + stars: | 2024-05-28 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

GameStop — Shares surged nearly 27% following the company's announcement Friday that it had made around $933.4 million from a stock sale. Norwegian Cruise Line Holding — The cruise stock rose 3% following an upgrade to buy from neutral at Mizuho. Bank of America initiated coverage of Viking with a buy rating, citing its "singular brand and clear niche." UBS also gave it a buy rating, saying it's a "pure play in luxury travel." Airbnb — Shares of the short-term rental company added 1.5% following an upgrade by Wedbush to outperform.

Persons: DuPont's, Andrew Boone, Duolingo Max, Boone, Huntington Bancshares, Jesse Pound, Sarah Min, Michelle Fox Organizations: GameStop, Nvidia, Cruise, Mizuho, Street, New York Stock Exchange, Bank of America, UBS, JPMorgan, DuPont —, Citi, U.S, Cellular, Mobile

☆ South Africa has failed its Black majority. Nelson Mandela’s political heirs may pay the price
▼ + stars: | 2024-05-27 | by ( Hanna Ziady | ) edition.cnn.com time to read: +12 min

When South Africans vote Wednesday, an unhappy combination of rampant corruption, soaring joblessness, crippling power cuts and feeble economic growth will likely be top of mind. Black South Africans, who make up 81% of the population, are at the sharp end of this dire situation. ‘Elite enrichment’Under apartheid — and colonial rule before that — Black South Africans were violently oppressed and denied many basic human rights. Millions of South Africans still live in such informal settlements. “The poster child of this is the electricity sector.”For much of last year, South Africans were without power for at least some portion of the day.

Persons: ”, Nelson Mandela’s, —, Cyril Ramaphosa, Leon Sadiki, BEE, Moeletsi Mbeki, Thabo Mbeki, White, “, Tshediso Matona, Anders Pettersson, Black, …, Kganki Matabane, Matthew Parks, Matona, Mbeki, Ricardo Hausmann, Jacob Zuma, Haroon Bhorat, Michele Spatari, ” Bhorat, hasn’t, ANC “, Zuma, Ramaphosa, Cas Coovadia, Hausmann Organizations: Johannesburg CNN, National Congress, ANC, World Bank, Oxford Economics, Harvard University, Democratic Alliance, Bloomberg, Getty, South African Institute of International Affairs, Wits University, CNN, ”, BBEE, Black Business Council, South African Trade Unions, Harvard’s, University of Cape, South Africa’s Free, International Monetary Fund, Fitch, IMF, JPMorgan, Shell, Unilever, Business, Business Unity, Harvard Growth Locations: London, Johannesburg, Sudan, Africa, Alexandra, South Africa, Leon, Isipingo, KwaZulu, Natal, South, ”, University of Cape Town, loadshedding, Namahadi, Frankfort, Business Unity South Africa

☆ The 10 books the rich will be reading this summer
▼ + stars: | 2024-05-26 | by ( Robert Frank | ) www.cnbc.com time to read: +11 min

That's why J.P. Morgan Private Bank, every May, releases its summer reading list, often serving as a book club for billionaires. This year marks the 25th anniversary of the list, now called the J.P. Morgan Summer Reading List. The 10 books are carefully curated to match the tastes and preoccupations of J.P. Morgan's wealthy clients. It also helps with client events, since authors on the list often agree to do special dinners or speaking events for J.P. Morgan clients. Authors love being on the list as well since J.P. Morgan buys thousands of books to hand out and since clients often refer the books to others.

Persons: Robert Frank, Today's, Alicia Keys, Swizz Beatz, J.P, Morgan, Darin Oduyoye, Oduyoye, Gary White, Matt Damon, Charles Duhigg, Jonathan Haidt, Haidt, Kasseem Dean, —, Gordon Parks, Michel Basquiat, Lorna Simpson, Odili Donald Odita, Kennedy Yanko, Kimberli Gant, Salman Khan Salman Khan, Jack Daniel, Fawn Weaver, Daniel's, Daniels, Weaver, Joshua Robinson, Jonathan Clegg, Robinson, Clegg, Melinda Stevens, Issy von Simson, Tabitha Joyce, Fortunato, Adam Pearson, Fortunato Chocolate, Laura Mae Martin, Laura Mae Martin —, Martin, Jake Gyllenhaal, Greta Caruso, Tony, Damon Organizations: Morgan Private Bank, Morgan, Reading, Wealth Management, J.P, Giants, Art, Phaidon, Brooklyn Museum, Education, Khan Academy, Wall, Mercedes, Nacional, Google, Solutions, JPMorgan, Manhattan Company Locations: Water, Lynchburg , Tennessee, America, United States, Croatian

☆ Wells Fargo goes on quiet hiring spree to expand from lending. What it means for the stock
▼ + stars: | 2024-05-24 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

He added, "Wells Fargo could fetch a higher multiple in the market as a result." A Wells Fargo spokesperson declined to comment on the total number of CIB-related hires across all levels in the division. Wells Fargo and other banks have benefited in recent years as the Federal Reserve began hiking interest rates in March 2022. More recent data indicates that Wells Fargo's investment banking revenue share globally has jumped to No. A woman walks past Wells Fargo bank in New York City, U.S., March 17, 2020.

Persons: Wells, Wells Fargo, JPMorgan Chase, Jeff Marks, Charlie Scharf, Scharf, Doug Braunstein, Braunstein, Fernando Rivas, Rivas, Jonathan Weiss, Weiss, Piper Sandler, Wells Fargo's Scharf, NII, Kroger, Scharf's, Scott Siefers, Siefers, Jim Cramer's, Jim Cramer, Jim Organizations: Wall, CNBC, JPMorgan, CIB, Wells, North American Investment Banking, Barclays, Deutsche Bank, Suisse —, Management, Federal Reserve, Fed, Albertson's, Federal Trade Commission, Currency Locations: Wells Fargo, Americas, U.S, IPOs, Wells, New York City

☆ Wall Street ponders what happens to booming private credit market when you-know-what hits the fan
▼ + stars: | 2024-05-24 | by ( Leslie Picker | ) www.cnbc.com time to read: +1 min

The explosion of private credit has been met with a whole host of concerns, but among the louder ones more recently is that the industry has not experienced a downturn at scale. "A lot of those folks who took private-credit loans will be stranded when [obscenity] hits the fan," Dimon said. "Banks tend to work with the borrower and the middle-market loan in the crisis…in the mark-to-market world of private credit, they have to, as a fiduciary, book it at par." In other words, he said, "private credit hasn't dealt with high interest rates, hasn't dealt with the recession, and it hasn't dealt with high spreads." "[Ares has] invested $150 billion into the private-credit market since we founded the firm, and we had a loss rate of one basis point.

Persons: Jamie Dimon, Dimon, Banks, hasn't, Ares, Michael Arougheti, it's, Arougheti Organizations: CNBC, Ares Management Locations: United States, America

☆ Inflation's moving away slowly and Fed will cut rates this year, says JPMorgan's Priya Misra
▼ + stars: | 2024-05-24 | 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 EmailInflation's moving away slowly and Fed will cut rates this year, says JPMorgan's Priya MisraPriya Misra, JPMorgan Asset Management fixed income portfolio manager, joins 'Squawk Box' to discuss inflation's trajectory, the bifurcation in views on outcomes, and much more.

Persons: JPMorgan's Priya Misra Priya Misra Organizations: JPMorgan, Management

☆ Here are JPMorgan's top clean energy picks for the rest of 2024
▼ + stars: | 2024-05-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

JPMorgan's top picks for the rest of the year are two smaller, lesser known companies — Hannon Armstrong Sustainable Infrastructure and TPI Composites . Hannon Armstrong finances renewable projects and TPI builds blades for wind turbines. The investment bank has $39 price target for Hannon Armstrong, implying 21% upside from Thursday's close of $32.13. When long-term Treasury rates are higher than short-term rates, Hannon Armstrong can book projects at the higher rate but finance them at the lower rate. Nextracker's price target remains at $63, suggesting 23% upside from the last closing price of $51.32.

Persons: JPMorgan's, — Hannon Armstrong, Hannon Armstrong, TPI, Mark Strouse, Strouse Organizations: U.S, JPMorgan, — Hannon Armstrong Sustainable Infrastructure, TPI Composites

☆ JPMorgan is 'positive' on China stocks and 'constructive' on real estate as Beijing props up markets
▼ + stars: | 2024-05-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

JPMorgan is "positive" on China stocks and "constructive" on its real estate sector as the world's second-largest economy strives to prop up its equity and property markets. JPMorgan's view on China stocks is "tilted in the positive direction," said Wendy Liu, the firm's chief Asia and China equity strategist. Liu, who expects the index to hit 3,900 by the end of the year, said that China market was still "among the cheapest" in Asia Pacific. Mainland China's CSI300 was the third worst performing stock market in Asia, losing 11.38% last year. When asked about the Chinese real estate sector, Liu said it was at an "inflection point," and that JPMorgan was "constructive" on the sector.

Persons: Wendy Liu, Liu, they'll, CSI300, Hong, malpractices . Liu, Wu Qing, Wu, JPMorgan Organizations: JPMorgan, JPMorgan Global China, China Securities Regulatory Commission, People's Bank of China Locations: China, Asia, Jegarajah, Asia Pacific

☆ These are Wall Street's favorite travel and leisure stocks heading into the unofficial start of summer
▼ + stars: | 2024-05-24 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

A collection of travel-related stocks will likely be key beneficiaries as warm summer months arrive and as consumers start to go off on beach and mountain vacations. Shares of casino operator Las Vegas Sands have fallen 8.5% so far in 2024. LVS YTD mountain Las Vegas Sands stock. Umansky also lauded Las Vegas Sands' generation of free cash flow that can be used to buy back stock. VAC YTD mountain Marriott stock.

Persons: Vitaly Umansky, Umansky, Wall, FactSet, Aaron Hecht, Ryan Lambert Organizations: Entertainment, Vegas Sands, CNBC, FactSet, Seaport Securities, Sands, Marriott, JMP Securities, Hilton, JPMorgan, Madison Square Garden Sports Locations: Macao, Singapore, Vegas, Madison

☆ Buy quality tech stocks that are immune to high inflation and rates, Trivariate Research says
▼ + stars: | 2024-05-24 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

As inflation lingers at a generational high, some stocks stand out for their ability to help investors hedge against the effect of high interest rates better than others. "What ensued was a massive negative correlation between the perception about interest rates and the valuation of growth companies from late in 2021." While a basket of high-quality growth stocks used to be negatively correlated to inflation, meaning their stock prices suffered as inflation turned higher, Trivariate says the relationship has since changed. "Today, the correlation of the high-quality growth basket to our inflation basket is zero," the firm said. In the same report, Trivariate Research shared its basket of high-quality names in the technology sector that have a near-zero correlation to its inflation basket.

Persons: Adam Parker, Morgan Stanley, Trivariate, Morgan Stanley —, Meta Marshall, Raymond James, there's, Simon Leopold, Michael Bloom Organizations: Research, Trivariate, Keysight Technologies, Technologies, JPMorgan, VMware, Broadcom Locations: United States

☆ India and Japan are bright spots in Asia's 'supremely interesting' equity and M&A markets, JPMorgan says
▼ + stars: | 2024-05-24 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

India and Japan are two bright spots in Asia's "supremely interesting" markets, JPMorgan's Filippo Gori said at the bank's Global China Summit on Thursday, referring to the region's equity as well as deal-making landscape. India, which is very in high demand," Gori, co-head of global banking at JPMorgan, told CNBC. While mergers and acquisitions activity declined globally in 2023, Japan's deal value rose 23% from a year ago to about $123 billion, Bain & Company said in its Japan M&A report. "Japan's economy is uniquely well positioned for growth in M&A," the report said. Last year M&A deal value in India stood at $136 billion, a 27% drop for a year earlier, which was in line with the global decline in M&A activity, according to Deloitte's India M&A trends report.

Persons: Filippo Gori, Deloitte Organizations: Global China Summit, JPMorgan, CNBC, Japan's Nikkei, Bain & Company, Companies, China, Apple Locations: India, Japan, Gori, China

☆ JPMorgan's Jamie Dimon says the U.S. economy could have a hard landing
▼ + stars: | 2024-05-23 | 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 Jamie Dimon says the U.S. economy could have a hard landingJamie Dimon, CEO of JPMorgan Chase, discusses the outlook for the U.S. economy and interest rates.

Persons: Jamie Dimon, JPMorgan Chase Organizations: JPMorgan Locations: U.S

☆ Here are Thursday's biggest analyst calls: Nvidia, Tesla, Ford, Super Micro, Wendy's, Hasbro, Take-Two, Wynn & more
▼ + stars: | 2024-05-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Bank of America reiterates Nvidia as buy Bank of America raised its price target on the stock to $1,320 per share from $1,100 following earnings. Deutsche Bank initiates Freshpet a buy Deutsche said it sees "multiple structural tailwinds" for shares of the pet food and health company. Deutsche Bank initiates BellRing Brands as buy Deutsche said it sees a long runway for growth for the food company. " Deutsche Bank initiates Legend Biotech as buy Deutsche said it's bullish on the biotech company's multiple myeloma drug Carvykti. Bank of America reiterates Super Micro Computer as buy Bank of America said Nvidia's earnings report on Wednesday bode well for companies like Super Micro.

Persons: Bernstein, Ford, Morgan Stanley downgrades NetEase, Morgan Stanley, Evercore, BRBR, Wedbush, Jefferies, GDRX, Oppenheimer, Armour, Kevin, Dell, Chubb, Stephens, FHN, Tesla, Argus, it's bullish, bode Organizations: " Bank of America, Nvidia, Bank of America, Deutsche Bank, Deutsche, BellRing Brands, JPMorgan, Hasbro, RBC, Norfolk Southern, NSC, GE Vernova, GE, UBS, Eastman Chemical, Eastman, SAP, underperform Bank of America, Berkshire Hathaway's, of America, Rockstar Games, NextEra Energy Partners, Argus, Wynn, Biotech, Computer Locations: U.S, China, Berkshire, Macau, Las Vegas, 2H24

☆ 'AI revolution just getting started': Here's what Wall Street is saying about Nvidia's 1st-quarter earnings blowout
▼ + stars: | 2024-05-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Nvidia stock soared 9% on Thursday to record highs after its reported earnings. The company defied analyst expectations yet again, and said that demand for its AI chips continues to outstrip demand. Wall Street analysts were impressed by the results, with a slew of price target increases hitting the tape Thursday morning. Wedbush: "AI revolution just getting started"Analysts at Wedbush said the "AI gold rush" is just getting started as a "tidal wave" of spending on AI chips hits the entire tech sector. The AI Revolution starts with Nvidia and in our view the AI party is just getting started with the popcorn getting ready."

Persons: —, Goldman Sachs, it's, Nvidia's, Blackwell, Wedbush, AI Jensen Organizations: Service, Nvidia, Wall Street, Center, Data Center, Data, Blackwell, JPMorgan, Meta, Bank of America Locations: 2HCY24, CY25, CY24

☆ JPMorgan CEO Jamie Dimon says U.S. could see a 'hard landing,' stagflation will be 'worst outcome'
▼ + stars: | 2024-05-23 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

JPMorgan Chase 's chairman and CEO Jamie Dimon says the the U.S. economy could see a "hard landing." When asked by CNBC's Sri Jegarajah about the prospect of a hard landing, Dimon replied: "Could we actually see one? The CEO was speaking at the JPMorgan Global China Summit in Shanghai. Dimon said the worst outcome for the U.S. economy will be a "stagflation" scenario, where inflation continues to rise, but growth slows amid high unemployment. "I look at the range of outcomes and again, the worst outcome for all of us is what you call stagflation, higher rates, recession.

Persons: JPMorgan Chase, Jamie Dimon, CNBC's, Jegarajah, Dimon, we'll Organizations: JPMorgan, JPMorgan Global China Summit Locations: U.S, Shanghai

Morgan Stanley accompanied the move by cutting its price target to $100 from $120. His $185 price target, up from $160, forecasts that shares of Take-Two could rally 23% from Wednesday's close. — Lisa Kailai Han 5:55 a.m.: Bernstein initiates Ford at an outperform rating Investors who don't own Ford are missing out, according to Bernstein. — Lisa Kailai Han 5:55 a.m.: JPMorgan upgrades Hasbro Don't expect Hasbro's momentum to slow in the near future, according to JPMorgan. It also raised its price target on shares to $74 from $61, implying upside of 22%.

Persons: Bernstein, Morgan Stanley downgrades NetEase, Morgan Stanley, Alex Poon, Poon, Lisa Kailai Han, Omar Dessouky, Dessouky, — Lisa Kailai Han, Sam Poser, Sean Dodge, Dodge, GoodRx, Ford, Daniel Roeska, Roeska didn't, Roeska, Christopher Horvers, Fred Imbert Organizations: CNBC, Ford, JPMorgan, Hasbro, NetEase, Bank of America, Rockstar Games, Rockstar, Supreme, Corp, Trading, EMEA, Timberland, RBC, RBC Capital Markets, pharma, Kroger Locations: China, Wednesday's, Americas

☆ Analysts boost Nvidia price targets on strong demand outlook, say 'narrative is clearly nowhere near its end'
▼ + stars: | 2024-05-23 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Wall Street analysts are turning more bullish on Nvidia yet again following another strong guide from the chipmaking behemoth. "The narrative is clearly nowhere near its end, or likely nowhere near its peak," he wrote, adding that shares appear inexpensive. He expects Nvidia's Blackwell chips to be sold out through 2025. "While it's large enough market that competitors can succeed or even gain share, NVIDIA remains the standard bearer for multifaceted AI," he wrote. Nvidia's results lifted the broader chip sector, with the VanEck Semiconductor ETF (SMH) trading 3% higher in the premarket.

Persons: Tom O'Malley, Bernstein's Stacy Rasgon, Blackwell, Blayne Curtis, Citi's Atif Malik, JPMorgan's Harlan Sur, Goldman Sachs, Toshiya Hari, Sur, Morgan Stanley's Joseph Moore, Nvidia's Blackwell Organizations: Nvidia, Blackwell, Wall, Barclays, Jefferies, NVIDIA, VanEck Semiconductor, Micron Technology, AMD Locations: CY25

☆ JPMorgan says China can't be ignored: 'you have to do business there'
▼ + stars: | 2024-05-23 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

"You can't ignore it, you have to do business there, even if you decide not to do business there, you need to understand what's going on," Leenart said, adding that what happens in China "influences every industry around the world." In terms of purchasing power parity, China currently accounts for 19% of global GDP and 48% of Asia's GDP . China is too big to be sidelined, and investors "have to do business there," JPMorgan Asia Pacific CEO Sjoerd Leenart said Thursday, adding that the country had emerged as the second world power. Given how extensively China is linked with the region, Leenart emphasized that there needs to be "good activity" in China in order to have a buoyant investment banking business. "I think that [China] have a lot to sell to the world, and that product will be needed all over the world," said Leenart, adding that he sees a lot of opportunity in China.

Persons: Leenart, CNBC's, Sjoerd Leenart, We've Organizations: JPMorgan Chase &, CNBC's Sri, Global China Summit, JPMorgan Asia Pacific, Investors, China's National Bureau of Statistics, Reuters, Wilson Locations: New York, United States, China, CNBC's Sri Jegarajah, Shanghai . China, Asia, Japan, South Korea, Taiwan, Vietnam

☆ Denmark's Orsted wins $680 million JPMorgan backing for U.S. solar and battery projects
▼ + stars: | 2024-05-23 | by ( Pippa Stevens | ) www.cnbc.com time to read: +2 min

Aerial view of Eleven Mile Solar in Coolidge, Az. Put simply, large financial institutions provide part of the financing for a renewable energy project, in exchange for the project's tax credits. Smaller developers don't always have the means to enter into these partnerships, and the appetite from large financial institutions to take stakes in renewable energy projects is limited. That's "[s]till far short of what is needed in the post-IRA clean energy investment landscape," the investment bank Evercore ISI noted. Aerial view of Eleven Mile Solar in Coolidge, Az.

Persons: Az, Van Applegate, Orsted, Biden, —, Applegate Organizations: JPMorgan, U.S, Orsted's, IRA, American Council, Renewable Energy Locations: Coolidge, U.S, Coolidge , Arizona, Mineral , Texas, Nextracker

☆ Stocks making the biggest moves midday: Nvidia, Boeing, Live Nation Entertainment and more
▼ + stars: | 2024-05-23 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Nvidia — The chipmaker and artificial intelligence beneficiary spiked 11% after Nvidia posted strong fiscal first-quarter results , issued better-than-expected guidance and announced a 10-for-1 stock split. Live Nation Entertainment — Shares dropped 7% after the U.S. Department of Justice sued to break up the parent company of Ticketmaster, alleging antitrust violations . The cosmetics maker posted fourth-quarter adjusted earnings of 53 cents per share on revenues of $321.1 million. Snowflake had posted $829 million in revenue, surpassing the consensus forecast of $786 million, per LSEG. Adjusted earnings for the period came in at 14 cents a share, however, falling short of analysts' consensus estimate by 4 cents.

Persons: Brian West, LSEG, LiveRamp, GoodRx, Snowflake, Goldman Sachs, Morgan Stanley, — CNBC's Michelle Fox, Pia Singh Organizations: Nvidia, Micro Computer, Boeing —, Boeing, U.S . Department of Justice, Ticketmaster, RBC, Taiwan Semiconductor Manufacturing, Taiwan Semiconductor, Machinery, Titan Machinery, Triumph, JPMorgan, Corp, LSEG, Revenue

☆ Recession is still a real threat, Jamie Dimon and David Solomon warn
▼ + stars: | 2024-05-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Read previewPersistent inflation and a full-blown recession are still firmly on the table, two Wall Street titans have warned. Jamie Dimon told CNBC on Thursday that sticky inflation is more likely than many people think. Dimon said the "worst outcome" would be stagflation — a painful combination of elevated inflation, higher rates, and a recession that would hit consumers and pull down corporate profits. No cuts and a real slowdownDavid Solomon struck a similar tone at a Boston College event on Wednesday, Bloomberg reported. Solomon also said in March that he was less certain of a soft landing than the market consensus.

Persons: —, Jamie Dimon, Dimon, David Solomon, Goldman Sachs, Solomon Organizations: Service, Wall, CNBC, JPMorgan, Business, Federal Reserve, Boston, Bloomberg

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