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☆ The Fed needs two industries to suffer in order to beat inflation, Jim Cramer says
  + stars: | 2023-04-11 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +1 min
It's going to be tough for the Federal Reserve to beat inflation without declines in the auto and housing industries, CNBC's Jim Cramer said on Tuesday. When the Fed raises interest rates, investors typically expect the housing, auto and retail industries to suffer. "You want to break the back of inflation, you need to break the back of the auto and housing industries," Cramer said. Cramer said without significant layoffs from more industries, the same cycle will continue, with marginal institutions staying afloat, partially due to strength in the stock market. If the Fed is going to defeat inflation, it needs to see some marginal businesses go under, he said.
☆ Stocks making the biggest premarket moves: Walmart, Home Depot, Vir Biotechnology and more
  + stars: | 2023-02-21 | by ( Michelle Fox | ) www.cnbc.com   time to read: +2 min
Check out the companies making the biggest moves in premarket trading:Walmart — Walmart shares fell about 4% before the bell after sharing a cautious outlook for the year as consumers trade down and purchase fewer discretionary items. Home Depot — The retail stock dropped 4% in premarket trading after Home Depot's fourth-quarter report showed lighter-than-expected sales. Home Depot reported $3.30 in earnings per share on $35.83 billion of revenue. Vir Biotechnology — The immunology company jumped nearly 11% after being upgraded to buy from neutral by Goldman Sachs. HSBC cited strong reported revenue growth and lower reported operating expenses.
☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, Carvana, Nvidia, Netflix, Zoom, Meta & more
  + stars: | 2023-02-21 | by ( Michael Bloom | ) www.cnbc.com   time to read: +7 min
Bank of America downgrades Constellation Energy to neutral from buy Bank of America downgraded the energy company mainly on valuation. " Raymond James reiterates Carvana as market perform Raymond James said it's cautious heading into Carvana earnings later this week. Bank of America reiterates Meta as buy Bank of America said it's bullish on the company's recently announced Meta Verified subscription service. " Bank of America reiterates Alphabet as buy Bank of America said it's standing by its buy rating despite the ChatGPT thread to Alphabet. Barclays reiterates Zoom as equal weight Barclays said expectations are low heading into Zoom earnings later this month.
☆ JPMorgan downgrades AutoNation, says car dealer stock is overvalued
  + stars: | 2023-02-21 | by ( Sarah Min | ) www.cnbc.com   time to read: +2 min
It's time to sell AutoNation as consumer demand for vehicles starts to pull back, according to JPMorgan. Analyst Rajat Gupta downgraded AutoNation to underweight from neutral, saying the car dealer stock is starting to look overvalued after its solid performance during the pandemic. AutoNation shares outperformed at the onset of the Covid pandemic. The car dealer stock jumped more than 40% in 2020, and surged more than 60% in 2021. On Friday, following strong fourth-quarter results, AutoNation shares surged to an all-time high and posted its best day in about three years .
☆ Stocks making the biggest moves midday: Home Depot, DocuSign, General Mills and more
  + stars: | 2023-02-21 | by ( Pia Singh | ) www.cnbc.com   time to read: +3 min
Home Depot also provided a muted outlook for fiscal 2023 and expects sales growth to be approximately flat due to a tougher consumer backdrop and a pivot away from goods toward services. Nordson reported sales of $610.5 million in the period and earnings per share of $1.95, excluding items. The company reported quarterly earnings of $1.30 per share, excluding items. That result beat analysts' earnings expectations of $1.07 per share, according to FactSet. The updated outlook includes organic net sales growth of about 10% and adjusted diluted per-share earnings growth of 7% to 8% in constant currency.
☆ After a steep fall, used car prices poised to rise again
  + stars: | 2023-02-18 | by ( Chris Isidore | ) edition.cnn.com   time to read: +5 min
That shortage of new car inventory helped drive both new and use car prices to record levels earlier last year. The disruptions to the new car market at that time are about to be felt by today’s used car market. “And that’s going to impact wholesale prices and ultimately, retail prices.”It’s tough to know how long the rise in used car prices will last. The drop in used car prices has been a major factor in the slowing of inflation, but a sustained rise in used car prices could make it more difficult for the Fed to pull back on rate hikes. And prices would have risen 6.9% over the same 12 month period if used car prices had posted such a steep decline and instead just stayed unchanged.
☆ Auto Dealers See Mixed Signals
  + stars: | 2023-02-17 | by ( Jinjoo Lee | ) www.wsj.com   time to read: 1 min
In their path to profit growth, auto dealers sped through a lot of green lights during the pandemic. This year, though, the signals are looking rather mixed. Auto dealer giant AutoNation said on its earnings call Friday that its same-store revenue rose 1.2% in the fourth quarter compared with a year earlier. Net income declined 26%. Lithia Motors said on Wednesday that same-store sales increased 0.8%, while net income declined 15%.
☆ Stocks making the biggest moves premarket: DraftKings, DoorDash, Deere, Roku and more
  + stars: | 2023-02-17 | by ( Sarah Min | ) www.cnbc.com   time to read: +3 min
The company reported a loss of 53 cents per share on revenue of $855 million. Deere & Company — Shares advanced 3% after Deere exceeded expectations on the top and bottom lines in its latest quarter. Roku jumped 11% Thursday after the company reported a smaller-than-expected loss in its latest quarter. The company reported a 57 cent per share loss on $480 million of revenue. It reported revenue of $1.01 billion, below the consensus estimate of $1.02 billion.
☆ Stocks making the biggest moves midday: Deere, Airbnb, AutoNation, Moderna and more
  + stars: | 2023-02-17 | by ( Michelle Fox | ) www.cnbc.com   time to read: +3 min
Check out the companies making the biggest moves midday:Deere — Shares rose 7.7% after the company reported earnings-per-share of $6.55 for its fiscal first quarter, topping the $5.57 expected by analysts polled by Refinitiv. Some Wall Street analysts remained cautious on the stock, citing risks including competition and slower-than-expected consumer adoption of alternative accommodations. Still, earnings and revenue missed Wall Street estimates. The sports betting company reported a loss of 53 cents per share on revenue of $855 million. The real estate company reported a 57 cent per share loss on $480 million of revenue.
☆ Three-Stock Lunch: DE, AN and MRNA
  + stars: | 2023-02-17 | 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 EmailThree-Stock Lunch: DE, AN and MRNADiamond Hill Capital Management's Heather Brilliant joins CNBC's reporter panel on 'Power Lunch' to discuss Deere, AutoNation, and Moderna, three stocks making moves after earnings results.
☆ Solid fourth-quarter earnings push AutoNation stock to an all-time high
  + stars: | 2023-02-17 | by ( Michael Wayland | ) www.cnbc.com   time to read: +1 min
A solid fourth-quarter earnings report from AutoNation on Friday propelled the car dealer's stock to a new all-time high and its best day in nearly three years. The Florida-based dealership group reported an adjusted earnings per share of $6.37 and revenue of $6.7 billion for the previous quarter. AutoNation closed Friday at $157.30 a share, marking a new high for the auto dealer's stock following an 11.4 % increase to end the week. The increase follows AutoNation last year reducing shares outstanding by 25% as it repurchased 15.6 million shares, including 4.6 million during the fourth quarter. AutoNation CEO Mike Manley attributed the solid quarter and record year of earnings to operational execution as well as new all-time high earnings in after sales and customer financing.
☆ Are we on the brink of a corporate credit crisis?
  + stars: | 2023-02-13 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +9 min
Economists at S&P Global Ratings forecast that speculative-grade (perceived to have a lower level of credit quality compared to more highly rated, investment-grade, companies) corporate default rates in the US and Europe will double this year alone. So are we on the brink of a corporate credit crisis? Before the Bell spoke with Ruth Yang, managing director and global head of thought leadership at S&P Global Ratings to discuss what lies ahead for the corporate credit market. Before the Bell: What’s your big picture view of the credit economy right now? There will be slower growth with thinner margins and that’s going to change how people look at their investment opportunities.
☆ Investors need to embrace these stocks that we love
  + stars: | 2023-02-12 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +8 min
I’ve typically done this stock picking feature in early to mid February as a Stocks We Love type of story, pegging it to Valentine’s Day. The restaurant stocks in particular could do well. Inflation is obviously still a concern for big consumer brands. Consumer prices rose 6.5% over the past 12 months through December, down from a 7.1% pace in November. Up nextMonday: Earnings from TreeHouse Foods (THS), Avis Budget (CAR), FirstEnergy (FE), IAC (IAC) and PalantirTuesday: US CPI; Japan GDP; UK employment report; earnings from Coca-Cola, Asahi Group, Marriott (MAR).
☆ Key inflation data in the week ahead will offer clues to future Fed rate moves and the market's path
  + stars: | 2023-02-11 | by ( Zev Fima | ) www.cnbc.com   time to read: +8 min
Looking forward The January consumer price index (CPI) , which calculates the average change over time in prices that shoppers pay for goods and services, is slated for Tuesday. Economists and investors will use the number to gauge the odds of a soft landing or hard landing for the economy. The producer price index (PPI) for January, which calculates the change in selling prices received by producers of goods and services, is out on Thursday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, Amazon, Alphabet, Chipotle, Microsoft & more
  + stars: | 2023-01-17 | by ( Michael Bloom | ) www.cnbc.com   time to read: +9 min
Morgan Stanley downgrades Chipotle to equal weight from overweight Morgan Stanley said it's concerned about "traffic headwinds." Morgan Stanley upgrades Domino's to overweight from equal weight Morgan Stanley said Domino's is best positioned to handle a downturn. Morgan Stanley upgrades Church & Dwight to overweight from equal weight Morgan Stanley said it sees "fundamental inflection ahead." Morgan Stanley downgrades AutoNation to underweight from equal weight Morgan Stanley said it sees too many headwinds for shares of AutoNation right now. Morgan Stanley upgrades Kroger to equal weight from underweight Morgan Stanley said it sees more people eating at home.
☆ Here are Friday's biggest analyst calls: Tesla, Apple, Amazon, AMC, Netflix, Caterpillar & more
  + stars: | 2023-01-13 | by ( Michael Bloom | ) www.cnbc.com   time to read: +6 min
Here are Friday's biggest calls on Wall Street: Bank of America upgrades Caterpillar to buy from neutral Bank of America said in it sees a multiyear growth story for the industrial giant. Guggenheim downgrades Tesla to sell from neutral Guggenheim said numbers are too optimistic ahead of Tesla 's earnings later this month. Deutsche Bank downgrades Logitech to hold from buy Deutsche said it's concerned about weakening PC demand trends. Bank of America reiterates Alphabet as buy Bank of America said it's standing by its buy rating on the stock, but that it sees further headcount reductions this year. Bank of America names Netflix a top pick Bank of America said Netflix is one of the best positioned media company's for the permanent shift to streaming.
☆ Stocks making the biggest moves midday: JPMorgan Chase, Wendy's, Virgin Galactic, Delta Air Lines, Tesla and more
  + stars: | 2023-01-13 | by ( Samantha Subin | ) www.cnbc.com   time to read: +5 min
The New York-based bank said profit jumped 6% from the year earlier period to $11.01 billion, or $3.57 per share. Wells Fargo - The bank stock dipped 0.1% after the firm reported shrinking profits, weighed down by a recent settlement and the need to build up reserves amid a deteriorating economy. Lockheed Martin — The defense stock slipped more than 3% after Goldman Sachs downgraded shares to sell from a neutral rating. Northrop Grumman shares also dove 5% on Goldman's downgrade to a sell from neutral rating. Copa — Shares of the Latin American airline jumped 4.9% following an upgrade to overweight from a neutral rating by analysts at JPMorgan.
☆ Bank of America says buy these stocks that generate lots of cash
  + stars: | 2023-01-11 | by ( Fred Imbert | ) www.cnbc.com   time to read: +3 min
Higher free cash flow yields imply a company is in a stronger position to meet its debt or other obligations. Fertilizer and nitrates products maker CF Industries topped the list with a 22% free cash flow yield. Expedia also made Bank of America's list, with a free cash flow yield of 21%. General Motors also turned up on Bank of America's screen, with a free cash flow yield of 16%. Steel producer Nucor and car-and-truck dealer AutoNation also made the cut, with free cash flow yields of 21% and 13%, respectively.
☆ Used-car retailer CarMax posts plunge in profit, pauses share buyback
  + stars: | 2022-12-22 | by ( ) www.reuters.com   time to read: +1 min
Dec 22 (Reuters) - CarMax Inc (KMX.N) on Thursday reported an 86% drop in quarterly profit and the largest U.S. used car retailer announced it was cutting expenses and pausing stock buybacks, as rising interest rates sap consumer confidence. The auto retail industry has been facing the brunt of consistent rate hikes and weakening consumer confidence. "We believe vehicle affordability challenges continued to impact our third-quarter unit sales performance, as headwinds remain due to widespread inflationary pressures, climbing interest rates, and low consumer confidence," CarMax said on Thursday. CarMax reported net income of 24 cents per share for the quarter through November, compared with expectations of 70 cents, as per Refinitiv data. Reporting by Priyamvada C and Kannaki Deka in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
☆ Here's why the Fed may have won already but is still acting like nothing has improved
  + stars: | 2022-11-20 | by ( Jim Cramer | ) www.cnbc.com   time to read: +9 min
We can bet that they will be one-upping each other about how high they want to take fed funds, the overnight bank lending rate. They seem to want to ignore anything that's succeeded since the Fed's rate increase cycle began back in March. I think that, again, if the Fed were to wait through Christmas they would see the layoffs and the corporate failures. One thing that's for certain, the buyers of the 2-year may be more sensitive to the data than the Fed. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
☆ Why investors have jumped off the Carvana bandwagon
  + stars: | 2022-11-12 | by ( Michael Wayland | ) www.cnbc.com   time to read: +7 min
He touted the company's "landmark" second-quarter results on Aug. 5, 2021 that included the used car retailer's first-ever quarterly net profit. Analyst Adam Jonas cited deterioration in the used car market and a volatile funding environment for the change. Jonas said "a deterioration in the used car market combined with a volatile interest rate/funding environment" made for a "material risk" to the company. Used vehicle prices have so far remained steady, but that may not last long, as the wholesale costs continue to decline. The average used listing price for a used vehicle is stabilizing but remains near record highs of more than $28,200, according to Cox Automotive.
☆ Why Carvana stock dropped 97% in the past year as the auto resale success story became a used-car clunker
  + stars: | 2022-11-09 | by ( Tim Levin | ) www.businessinsider.com   time to read: +4 min
Slowing demand for used cars and high interest rates are making things difficult for Carvana. Supply chain snarls kicked off a shortage of new cars that sent buyers to the used market in droves. But now the used-car market is slowing down, dealing a blow to Carvana and other dealership chains. Carvana, known for its vehicle vending machines, chalked up the poor results to a challenging economy and slowing demand for used cars. AutoNation, the largest dealership chain in the US, issued a similar warning about used-car prices last month.
☆ Carvana stock on pace for worst day ever as outlook darkens for used vehicle market
  + stars: | 2022-11-04 | by ( Michael Wayland | ) www.cnbc.com   time to read: +2 min
Shares of the online used car retailer have plummeted by more than 95% this year, after hitting an all-time intraday high of $376.83 per share on Aug. 10, 2021. Analyst Adam Jonas cited deterioration in the used car market and a volatile funding environment for the change. Pricing and profits of used vehicles have been significantly elevated as consumers who couldn't find or afford to purchase a new vehicle opted for a pre-owned car or truck. But rising interest rates, inflation and recessionary fears have led to less willingness by consumers to pay the record prices, leading to declines for Carvana and other used vehicle companies such as CarMax . Large franchised new and used vehicle dealers such as Lithia Motors and AutoNation warned of softening in the used vehicle market when recently reporting their third-quarter results.
☆ There are finally more cars to buy — but there's a new reason Americans can't afford them
  + stars: | 2022-11-03 | by ( Tim Levin | ) www.businessinsider.com   time to read: +3 min
High interest rates are hitting car buyers just as vehicles are becoming more available. The Federal Reserve raised interest rates again on Wednesday by .75% to TKSign up for our newsletter for the latest tech news and scoops — delivered daily to your inbox. But climbing interest rates are throwing a wrench in the cogs. The Federal Reserve has hiked interest rates several times this year — most recently on Wednesday — with the intention of cooling spending and taming record-high inflation. "New cars may finally become more available just when most Americans can no longer afford them," Cox chief economist Jonathan Smoke said in an October note.
☆ Auto dealer stocks rally despite Wall Street's 'demand destruction' theory
  + stars: | 2022-10-27 | by ( Michael Wayland | ) www.cnbc.com   time to read: +2 min
Vehicles are displayed for sale at an AutoNation car dealership on April 21, 2022 in Valencia, California. DETROIT – Shares of AutoNation , Group 1 Automotive and other automotive dealers rallied Thursday following strong third-quarter earnings and optimistic outlooks regarding consumer demand for new vehicles. "Clearly, there is some normalization that's going to occur and has occurred," Group 1 CEO Earl Hesterberg told investors after the company beat Wall Street's expectations on Wednesday. Shares of AutoNation were up by as much as 8.2% after the company beat Wall Street's estimates on Thursday. Pricing remains strong, demand remains strong for our products, but we can't ignore what others are saying out there and what others are seeing out there," GM CFO Paul Jacobson told reporters Tuesday after reporting strong third-quarter earnings.
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