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Kroger earned an adjusted 96 cents per share, beating an LSEG estimate of 91 cents per share. Planet Labs lost an adjusted 14 cents per share on revenue of $53.8 million. Analysts polled by LSEG expected a loss of 8 cents per share on revenue of $54.1 million. DocuSign reported an adjusted 72 cents per share and $688 million in revenue, while analysts polled by LSEG forecast an adjusted 66 cents and $678 million, respectively. First Solar — Shares of the solar panel maker gained 1.4% after Deutsche Bank upgraded the First Solar to buy from hold, citing the company's strong ongoing demand.
Persons: Victor Coleman, Kroger, LSEG, DocuSign, Davidson, Gary Friedman, Gilead, — CNBC's Pia Singh Organizations: Kroger Co, Albertsons Cos Inc, New York Stock Exchange, Hudson Pacific Properties, Hollywood, Avid, Labs, Planet Labs, LSEG, Deutsche Bank, Gilead Sciences, Bank of America Locations: New York City, California
But the company posted $33.85 billion in quarterly revenue, under the $34.13 billion anticipated by analysts. Planet Labs — The satellite imagery stock slipped 2.6% in premarket trading after delivering a weaker quarterly report than expected on Thursday. DocuSign — The electric signature stock advanced 2.4% premarket on the heels of a stronger-than-expected quarterly report released Thursday. The Wall Street firm said Snowflake is in an advantageous position with "best-in-class growth rates" and is set to benefit from increased demand for artificial intelligence applications. The Wall Street firm cited First Solar's strong growth message during its investors day.
Persons: Kroger, LSEG, DocuSign, Davidson, Snowflake, Mizuho, RH —, Gary Friedman, , Yun Li, Sarah Min, Jesse Pound, Michelle Fox, Scott Schnipper Organizations: Planet Labs, LSEG, Deutsche Bank, Mizuho, Gilead Sciences, Bank of America Locations: Gilead
Morgan Stanley downgrades Farfetch to equal weight from overweight Morgan Stanley said it sees limited catalysts ahead for the stock. UBS upgrades Oracle to buy from neutral UBS said Oracle has upside potential. Wells Fargo upgrades Rockwell Automation to equal weight from underweight Wells Fargo upgraded the stock mainly on valuation. UBS reiterates Microsoft as buy UBS said supply chain constraints are manageable for Microsoft. Morgan Stanley reiterates Nvidia as overweight Morgan Stanley said Nvidia's blowout earnings report last week is positive for the AI supply chain. "
Persons: Fargo, Goldman Sachs, Wells Fargo, Goldman, DA Davidson, Davidson, Morgan Stanley downgrades Farfetch, Morgan Stanley, Wells, Bernstein, Airbnb, Palantir, Splunk, Jefferies, Raymond James Organizations: Federal Trade Commission, Amazon, UBS, Oracle, Nvidia, Citi, Verizon, AT, VZ, JPMorgan, Pace, Business, Rockwell Automation, Disney, Microsoft, Bank of America, Jefferies, Holdings, underperform Bank of America, China, NVIDIA, Energy Partners, NextEra Energy Partners Locations: China and Hong Kong, HK, Asia
Nvidia has been one of the biggest winners on the back of the AI boom with shares rising nearly 220% this year. Peloton reported a loss of 68 cents per share, versus the 38-cent loss per share expected by analysts polled by Refinitiv. Foot Locker — The athletic retailer plunged 33% after cutting its outlook again for the year and suspending its quarterly dividend. Advanced Auto Parts — Advance Auto Parts rose 1% after beating analysts' revenue expectations for its second quarter. The auto retail company reported revenue of $2.69 billion, greater than the consensus estimate of $2.66 billion, according to Refinitiv.
Persons: Locker, Fitch, Abercrombie, Charles Schwab —, Schwab, Oppenheimer, Brown, Forman —, Morgan Stanley, Avery Dennison, Davidson, Safehold, Goldman Sachs, Goldman, it's, Shane O'Kelly, — CNBC's Hakyung Kim, Samantha Subin, Yun Li, Sarah Min, Jesse Pound Organizations: Nvidia, Refinitiv . Revenue, Dick's, Goods, Abercrombie, Pharmaceuticals, Nike —, Urban Outfitters, Refinitiv, Revenue, Netflix, Bank of America, UBS, DA, Marvell Technology, Susquehanna Locations: Louisiana, Pacific
Here are Wednesday's biggest calls on Wall Street: Deutsche Bank reiterates Charles Schwab as buy Deutsche said it sees an even "more" attractive risk/reward for Schwab shares after Tuesday's sell-off. Morgan Stanley reiterates Apple as overweight Morgan Stanley said Apple has "surpassed MSFT as the most under-owned large-cap tech stock exiting the second-quarter." Bank of America reiterates Meta as buy Bank of America said it sees more upside for shares of Meta. Bank of America reiterates Five Below as buy Bank of America said it's standing by shares of the discount retailer. Bank of America downgrades Dick's to neutral from buy Bank of America downgraded the stock after its disappointing earnings report Tuesday.
Persons: Charles Schwab, Schwab, SCHW, Wells Fargo, Wells, Morgan Stanley, Apple, Oppenheimer, Brown, Forman, GM headwinds, Edward Jones, DUK, Avery Dennison, Davidson, Goldman Sachs, Goldman, Susquehanna, Marvell Organizations: Deutsche Bank, Deutsche, Signet, Netflix, GM, Edward, Bank of America, Meta, Barclays, Duke Energy, JPMorgan, UBS, " Bank of America, Infosys, India IT, Marvell Locations: AAPL, 4Q23, Louisiana, Pacific, LPX, India
Backlash to Target’s Pride Month clothing collection — and the company’s response — also hit sales. More than half of Target (TGT)’s merchandise is discretionary – clothing, home decor, electronics, toys, party supplies and other non-essentials. Pride Month backlashTarget has also been embroiled in the political culture wars over gender and sexual orientation. Beginning in May, Target also faced a homophobic campaign that went viral on social media over its annual Pride Month clothing collection. Fueled by far-right personalities, the anti-LGBTQ campaign spread misleading information about the Pride Month products.
Persons: , Target, , ” Michael Baker, DA Davidson Organizations: New, New York CNN, Pride, Target, DA Locations: New York
TD Cowen reiterates Home Depot as outperform TD said the stock is best-in-class heading into earnings next week. " Deutsche Bank names Walmart and Ulta as top picks Deutsche said it sees upside to estimates for Walmart due to GLP-1 obesity drugs. Citi downgrades Petrobras to neutral from buy Citi downgraded the Brazilian petroleum company mainly due to political risks. " Bank of America reiterates Disney as buy Bank of America said it's standing by its buy rating on the stock after Wednesday's earnings and that its valuation is attractive. Bank of America reiterates Tesla as neutral Bank of America said it's standing by its neutral rating on the stock as cutting prices is keeping margins under pressure. "
Persons: Morgan Stanley, TD Cowen, Ulta, Oppenheimer, Freshpet, Jefferies, GPN, Penn, Truist, PENN, Goldman Sachs, Goldman, Davidson, Nio, NIO, Tesla, TSLA Organizations: Nvidia, NVIDIA, Deutsche Bank, Walmart, Deutsche, Citi, Petrobras, Bank of America, Disney, DIS, Jefferies, ESPN, Networks, Holdings, DA, of America Locations: Palo Alto
After weaker-than-expected quarterly results from luxury electric vehicle maker Lucid , analysts are now turning their attention to rival Rivian . Analysts polled by FactSet are forecasting an adjusted loss of $1.43 per share on $1.1 billion in revenue. Still, analysts remain bullish on Rivian ahead of its earnings release. Meanwhile, Morgan Stanley's Adam Jonas reiterated an overweight rating on Rivian in a July 7 note, accompanied by a $24 per share price target. Elsewhere, DA Davidson's Michael Shlisky is neutral on Rivian after an upgrade from underperform July 5, with an $18 per share price target that equates to about 26% downside.
Persons: Rivian, Needham's Chris Pierce, Pierce, Morgan Stanley's Adam Jonas, Jonas, Vijay Rakesh, Rakesh, Michael Shlisky, Mercedes EQB, Shlisky, — CNBC's Michael Bloom Organizations: FactSet, Wall, EV, Mizuho Securities
Here are Monday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's sticking with its overweight rating after Apple's quarterly 10-Q report. Morgan Stanley upgrades Laureate to overweight from equal weight Morgan Stanley said the education company is a beneficiary of nearshoring. Morgan Stanley reiterates Palo Alto Networks as overweight Morgan Stanley said the company has a "differentiated" and "disruptive" platform. " UBS reiterates Berkshire Hathaway as buy UBS said it's standing by its buy rating on shares of Berkshire after its earnings report Saturday. Morgan Stanley reiterates Cinemark as overweight Morgan Stanley said it's standing by its overweight rating on Cinemark as the success of "Barbie" and "Oppenheimer" has "squashed" the theatrical bear case.
Persons: Morgan Stanley, Apple, DA Davidson, Andy Jassy, Wells, Holley, it's, Raymond James, Charles Schwab, Schwab, EchoStar, Guggenheim, Berkshire Hathaway, Cinemark, Oppenheimer, Truist, Piper Sandler, Piper, MNST, Wright Organizations: UBS, Meta, Facebook, Bank of America, Nvidia, U.S ., Networks, Alto Networks, United Airlines, Berkshire, Comcast, CNBC, Monster Beverage Locations: WhatsApp, nearshoring, United, Berkshire, NBCUniversal
Truist reiterates Amazon as buy Truist said it's bullish heading into Amazon earnings Aug. 3. Piper Sandler upgrades SL Green to overweight from neutral Piper Sandler said in its upgrade of SL Green that the real estate investment trust has "favorable tailwinds." Piper Sandler downgrades Discover to neutral from overweight Piper Sandler said in its downgrade of the credit card company that it sees too many negative catalysts. Piper Sandler downgrades Carvana to neutral from overweight Piper Sandler downgraded the online used-car company mainly on valuation. Sirius' stock price has more than doubled over the past month and increased 42% yesterday alone.
Persons: . Bank of America downgrades Herc, Herc, Underperform, KeyBanc, it's, Truist, Piper Sandler, Piper Sandler downgrades Carvana, JPMorgan downgrades Blackstone, Morgan Stanley, Eli Lilly, Davidson, Davison, Oppenheimer, Baird, Wedbush, Goldman Sachs Organizations: . Bank of America, . Bank of America downgrades Herc Holdings, Bank of America, Hollywood, NA, Green, DFS, JPMorgan, Novo Nordisk, BMO, Consolidated Edison, of America, Deutsche Bank, Sirius, Nvidia, Microsoft Locations: 2Q23
The Club's top 10 things to watch Friday, July 21 1. Morgan Stanley raised its price target on Eli Lilly to $560 a share, up from $551. KeyBanc raised its price target on Club holding Palo Alto Networks (PANW) to $285 a share, from $242, while maintaining an overweight weighting on the stock. Stifel raised its price target on Club holding Meta Platforms (META) to $336 a share, from $280, while maintaining a buy rating on the stock. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: it's, Z, Morgan Stanley, Eli Lilly, KeyBanc, SLB, Halliburton, SVB Leerink, Johnson, Stifel, DA Davidson, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, American Express, Novo Nordisk, Palo Alto Networks, Johnson, . Railroad, CSX, Microsoft, Jim Cramer's Charitable, CNBC Locations: millennials
TD Cowen reiterates Nvidia as outperform TD Cowen said it's standing by its outperform rating on the stock. Bank of America upgrades DraftKings to buy from neutral Bank of America upgraded the fantasy sports company due to a margin inflection. Citi reiterates Tesla as neutral Citi said it's "neutral to slightly negative" on Tesla heading into earnings next week. Bank of America upgrades Stellantis to buy from neutral Bank of America said in its upgrade of the European automaker that it sees valuation upside. Bank of America downgrades Cisco to neutral from buy Bank of America said in its downgrade of Cisco that consensus estimates are too high.
Persons: TD Cowen, Cowen, it's, Oppenheimer, Baird, Locker, underperformed Ford, JPM, YTD, Holley, Tesla, Raymond James, SunPower, it's bullish, Morgan Stanley, Lazard, Davidson downgrades Redfin, Davidson Organizations: Nvidia, NVIDIA, Nasdaq, AMD, Companies, Citi, General Motors Citi, Watch, GM, JPMorgan, Bank of America, of America, UBS, Netflix, Tech, Cisco, AstraZeneca Locations: China, California
But beneath the surface, the jobs market remains hot. What’s next: The June Consumer Price Index report, a key inflation reading, is due on Wednesday. The Producer Price Index report for June is due on Thursday. Wednesday: Consumer Price Index report and housing starts for June. Thursday: Producer Price Index report for June.
Persons: , Joseph Davis, What’s, That’s, James Ragan, DA Davidson, Candice Tse, Price, Chris Isidore, Biden, Julie Su Organizations: CNN Business, Bell, CNN, Vanguard, Traders, DA, Goldman Sachs Asset Management, UPS, Teamsters, NY, Reserve’s Survey, University of Michigan
Jefferies upgrades Carnival to buy from hold Jefferies said it sees a "confluence of positive dynamics" for Carnival. Citi initiates Apple as buy Citi said it sees further upside for the tech giant, slapping a Street-high $240 price target. Citi initiates Dell as buy Citi said the computer maker is gaining share. Goldman Sachs reiterates Nike as buy Goldman Sachs said it's standing by shares of Nike after the company's earnings report Thursday. " Bank of America reiterates T-Mobile as buy Bank of America said the stock is "undervalued."
Persons: TD Cowen, Cowen, Goldman Sachs, Goldman, Jefferies, Snowflake, Virgin, Daiwa, NKE, Stephens, SolarEdge, Riley, Stifel, Davidson Organizations: Citi, Pacific Biosciences, Pacific Bioscience, Jefferies, Deutsche Bank, Apple, Dell, Bank of America, Virgin Galactic, underperform Bank of America, Virgin Galactic's, Italian Air Force, AMD, Intel, Nike, BMO, FirstService Brands, Occidental Petroleum, Mobile, Southwestern Energy Locations: 3Q23, China, Occidental, midstream
Here are Monday's biggest calls on Wall Street: Bank of America upgrades Alliant to buy from neutral Bank of America said shares of the Wisconsin and Iowa energy company are attractive. UBS upgrades Moderna to buy from neutral UBS said the biotech company's pipeline is underappreciated. UBS downgrades Alphabet to neutral from buy UBS said it sees "near-term monetization risk" for the tech giant. Bank of America reiterates Paramount Global as buy Bank of America said the media company is "unique." Loop reiterates Disney as buy Loop said it's standing by its buy rating on the entertainment and parks giant.
Persons: LNT, Goldman Sachs downgrades Tesla, Goldman, Morgan Stanley, TD Cowen, Coinbase, underperform TD Cowen, Wells, Brinker, Williams, Tesla, Bernstein, Uber, Davidson, Roth, Roth MKM, Piper Sandler, Lululemon, Piper, LULU Organizations: Bank of America, of America, UBS, Moderna, Walmart, Amazon Prime, BTC, BMO, Sherwin, Deutsche Bank, Deutsche, Citi, Boeing, WSFS Financial Corporation, Networks, TAM, Meta, Paramount Global, Brunswick Locations: Wisconsin, Iowa, China
He told CNBC's "Tale of the Tape" that the superior technology of the Vision Pro compared to other virtual reality and augmented reality headsets justifies its high price. When asked about Meta's strategy and whether the $299 Quest could compete with Apple's Vision Pro, he said that the two companies are pursuing different approaches. Despite the excitement surrounding Apple's Vision Pro, other analysts have urged caution . AAPL META 1Y line Expected to hit the market in 2024, Apple's Vision Pro allows users to interact with content and popular iPhone apps without a controller. Although the Vision Pro is unlikely to produce tens of billions in sales immediately, Uerkwitz remains optimistic about the device's value creation over the long run.
Persons: Andrew Uerkwitz, David Vogt, Uerkwitz, it's, Jefferies, Tom Forte, DA Davidson, Forte, Davidson, — CNBC's Michael Bloom Organizations: Apple, Jefferies, Apple's, Mac, UBS, Apple Watch, Unity, Pro, DA, VR, Meta Locations: Switzerland
Investors are hoping that next week's Federal Reserve meeting offers more clarity about the path interest rates could take. Rising interest rates squeeze consumers, while a cut to follow should help boost economic activity. These pricey purchases are often financed, and higher rates mean higher costs. "Even if the sticker price of the thing doesn't change, the interest rate still matters a lot for their monthly budget." The "brakes were hit very hard in 2022," largely due to higher rates on the new-home construction side, he said.
Persons: Christopher Herrington, Herrington, Kurt Yinger, It's, James Hardie, Yinger, There's, Rafe Jadrosich, Jadrosich, Seth Sigman, Bank of America's Curtis Nagle, Nagle, Loop's Anthony Chukumba, Garik Shmois, Shmois, Leslie's, Julien Dumoulin, Smith, SunRun, Corinne Blanchard, Citi's Pierre Lau, SolarEdge, Lau, John Bailer, Michael Bloom Organizations: Virginia Commonwealth University, Davidson, Companies, Bank of America, Fortune Brands, UFP Industries, Barclays, Bank of America's, Williams, Pool Corp, of America, FTC, Deutsche Bank, Shoals Technologies, Caterpillar, Cummins, Newton Investment Management Locations: Louisiana, Wall, Sonoma, California
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple's latest product releases were already priced in to the stock, says D.A. Davidson's Tom ForteTom Forte, DA Davidson managing director and senior research analyst, joins 'Halftime Report' to discuss Apple's latest product releases, investor enthusiasm for artificial intelligence, and the rationale behind D.A. Davidson's Apple downgrade.
Persons: Davidson's Tom Forte Tom Forte, DA Davidson
In their joint venture agreement, Baker Hughes says it uses C3.ai's solutions and also sells the product to companies in the oil and gas industry. CNBC's "Last Call" aired a report Thursday night on the investor lawsuit against C3.ai and the company's relationship with Baker Hughes. The lawsuit says the publicity about the massive Baker Hughes sales force "artificially inflated C3's stock" when the company first went public. Richard Drew | APIn an April 2023 filing, Baker Hughes announced it divested 1.7 million C3.ai shares, bringing its ownership to 6.9 million shares. Kerrisdale pointed to C3.ai's "highly conspicuous growth" in unbilled receivables, largely from Baker Hughes, and wrote that "accounting red flags abound with the Baker Hughes relationship."
Persons: Tom Siebel, Siebel, Thomas M, Chris J, Ratcliffe, it's, Baker Hughes, Logan Roy, Larry Ellison, Yasmin Khorram, Dan Brennan, We've, Brennan, he's, CNBC's, Reed Kathrein, Theranos, , Kathrein, Richard Drew, they'd, unbilled, receivables, Siebel's, Ken Goldman, Goldman, Gil Luria, Davidson, Luria, Nick Wells, Scott Zamost, Sam Woodward, Tom Siebel's Organizations: Siebel Systems, Oracle, Bloomberg Tech Summit, Bloomberg, Getty, CNBC, Forbes, Siebel, C3, U.S . Department of Defense, Shell, Northern District of, SEC, Twitter, " Traders, New York Stock Exchange, AP, Point Capital Management, Spotify, C3 Energy, Revenue, Wall Locations: London, Redwood City , CA, Redwood City , California, Northern District, Northern District of California, unbilled receivables, Point
Barclays initiates 10X Genomics as overweight Barclays said in its initiation of the gene sequencing biotech company that it has margin expansion opportunities for 10X. Barclays reiterates Apple as equal weight Barclays said in its analysis of Apple TV+ that "incremental content spend could take some cash away from buybacks." Goldman Sachs reiterates Chevron as neutral Goldman said it's waiting for an "upstream inflection" before getting positive on Chevron shares. Bank of America reiterates Virgin Galactic as underperform Bank of America said it still sees too much uncertainty for the spaceflight company. Bank of America reiterates Rivian as buy Bank of America saidit's standing by shares of the electric vehicle company after its earnings report on Tuesday.
Watch CNBC's full interview with D.A. Davidson's Tom Forte
  + stars: | 2023-05-08 | 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 EmailWatch CNBC's full interview with D.A. Davidson's Tom ForteTom Forte, DA Davidson managing director and senior research analyst, joins 'Squawk on the Street' to discuss the most important reason for Forte's Apple upgrade, if Apple will move into Android-dominated markets, and much more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple's iPhone strength in a reopening China drove stock performance, says D.A. Davidson's ForteTom Forte, DA Davidson managing director and senior research analyst, joins 'Squawk on the Street' to discuss the most important reason for Forte's Apple upgrade, if Apple will move into Android-dominated markets, and much more.
"We are initiating coverage of ZI with a BUY rating and a $30 target as a rare value investment within software. Citi upgrades Deutsche Bank to buy from neutral Citi said the global investment bank is at an "attractive entry point." " Deutsche Bank is one of the most de-rated banks YTD, yet the 1Q23 results demonstrated potential for further consensus earnings upgrades." Rosenblatt reiterates Apple as buy Rosenblatt said it's standing by its buy rating heading into earnings on Thursday after the bell. " CFRA reiterates Berkshire Hathaway as hold CFRA said it's standing by its "fairly valued" hold rating heading into Berkshire earnings on Saturday.
ZoomInfo Technologies is a "Buffett-esque" stock with big upside ahead, according to DA Davidson. ZI 1D mountain ZoomInfo Technologies shares 1-day ZoomInfo made its public debut in June 2020, jumping more than 60% in its first day on the Nasdaq. Since then, trading has been volatile for the software stock. The provider of sales software should also get a boost from tech layoffs that's expected to reduce sales departments. "We see the long-term opportunity not only from the base data product, but mostly from continued expansion as the leading Sales Enablement provider," Luria wrote.
Teladoc Health – The telemedicine company saw its stock soar more than 7% after revenue topped analyst estimates in the latest quarter. The company also raised the low end of its revenue and adjusted EBITDA guidance, although it posted a wider-than-anticipated loss in the latest quarter. Harley-Davidson – Harley-Davidson jumped 4.4% after the motorcycle maker topped earnings and revenue expectations, according to consensus estimates from Refinitiv. Honeywell International – Honeywell advanced 1.8% after surpassing earnings and revenue expectations in its latest quarter. ServiceNow – Shares declined 1.1% premarket after a 17% runup year-to-date entering its latest earnings.
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