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☆ U.S. Steel shares jump after unsolicited bid from Cleveland-Cliffs
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

Steel workers at U.S. Steel Granite City Works in Granite City, Illinois, U.S., May 24, 2018. Despite the surge, shares of U.S. Steel were trading well below the offer price at $27.92, indicating some investors believe a deal may not happen at that price. Cleveland-Cliffs shares were down 6.1%. A combination between the two firms will create the largest steel producer in North America and the 10th largest steel producer in the world and will be a dominant supplier to the transportation sector, KeyBanc Capital Markets analyst Philip Gibbs said in a note. U.S. Steel said it has invited Cleveland-Cliffs to be a part of the review process.

Persons: Lawrence Bryant, steelmaker, Philip Gibbs, Gibbs, Priyamvada, Reshma George, Arpan Daniel Varghese, Saumyadeb Organizations: U.S . Steel, U.S . Steel Granite City, REUTERS, Steel, KeyBanc Capital, Midwest, AK Steel, U.S, . Steel, Thomson Locations: U.S . Steel Granite, Granite City , Illinois, U.S, Cleveland, North America, China, ArcelorMittal, Bengaluru

Here's the latest AI developments at Salesforce, Apple and Microsoft — along with our take on the news. A generative AI experience built into Apple devices, however, would be an entirely new feature for users. Apple's smart assistant Siri would be the natural place to implement generative AI within the Apple ecosystem. The company promotes both generative AI tools as a way to improve productivity . We've long believed this to be true – and that's why we greeted Salesforce's price-hike announcement last week with open arms – but Wednesday's incremental generative AI updates reinforce our conviction.

Persons: Morgan Stanley, Microsoft's, Jim Cramer, ChatGPT, Bing, OpenAI's ChatGPT, BARD, Siri, Salesforce, Einstein, Morgan Stanley's, Jim Cramer's, Jim, Chino Organizations: Microsoft, Apple, Big Tech, Nasdaq, Barclays, Bloomberg, Google, Einstein, CNBC Locations: Wall, Silicon Valley, Wells Fargo

☆ Goldman's 'Rule of 10' for investing and stocks meeting that criteria today
▼ + stars: | 2023-07-04 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Goldman Sachs has a "Rule of 10" for investing that could serve traders well as they head into the second half of the year. While the poor market breadth this year was significant, Goldman Sachs said the trend is typical of most recent years. According to Goldman Sachs, it's vital to identify those names that can lead the market. Now, Goldman Sachs has updated its "Rule of 10" screen to not only identify those stocks posting faster-than-average sales growth, but net income too. Intuit is also expected to post strong net income growth of 15% through 2025, coupled with sales growth of 13% per annum.

Persons: Goldman Sachs, David Kostin, Kostin, Chipotle, Fortinet, Paycom Organizations: Bank of America, Intuit Locations: Fortinet, TurboTax

☆ Student loan repayment has net negative impact on consumers, says KeyBanc's Bradley Thomas
▼ + stars: | 2023-06-29 | 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 EmailStudent loan repayment has net negative impact on consumers, says KeyBanc's Bradley ThomasBradley Thomas, managing director at KeyBanc Capital Markets, and CNBC's Melissa Repko join 'The Exchange' to discuss how student loan repayment will negatively impact consumer discretionary spending, what companies are poised to benefit from the shift in consumer spending, and how retailers are preparing for the Supreme Court ruling on student debt forgiveness.

Persons: KeyBanc's Bradley Thomas Bradley Thomas, Melissa Repko Organizations: KeyBanc

☆ Here's why KeyBanc downgraded Target shares over consumer spending concerns
▼ + stars: | 2023-06-05 | 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 EmailHere's why KeyBanc downgraded Target shares over consumer spending concernsBrad Thomas of KeyBanc Capital Markets joins ‘Squawk on the Street’ to explain the reasoning behind KeyBanc downgrading Target stock and more.

Persons: Brad Thomas, Squawk Organizations: KeyBanc

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInside the world's largest lithium producerAlbemarle, the world's top producer of lithium and the operator of mines in Australia, Chile and the U.S., says it plans to bring its Kings Mountain, North Carolina mine online by 2027. The company, along with its main competitors SQM and Pilbara, control about 40% of the world's lithium supply, according to KeyBanc Capital Markets. Lithium is a critical mineral in electric vehicle batteries. CNBC got an inside look at Albemarle's operations in the U.S. and Chile.

Persons: Albemarle Organizations: KeyBanc, CNBC Locations: Australia, Chile, U.S, , North Carolina

☆ US telecom companies say not in talks with Amazon for wireless services
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +3 min

June 2 (Reuters) - Major U.S. wireless carriers on Friday said they not in talks with Amazon.com Inc (AMZN.O) to offer low-cost wireless services to its Prime members. "AT&T is not in discussions with Amazon to resell wireless services," a company spokesperson said. Verizon spokesperson the company "is not in negotiations with Amazon regarding the resale of (Verizon's) wireless network. Brandon Nispel of KeyBanc Capital Markets said Dish Network, a relatively new entrant in wireless, could be the most likely partner for Amazon. They also rallied in May after a Wall Street Journal report that Dish was in talks to sell its wireless plans through Amazon.

Persons: Christopher Ali, Brandon Nispel, Michael Ashley Schulman, Yuvraj Malik, Aditya Soni, Tanya Jain, Akash Sriram, David Shepardson, Sheila Dang, Nivedita Bhattacharjee Organizations: Major U.S, Amazon.com Inc, Wireless, Bloomberg News, Amazon, Dish Network, Verizon, Mobile, Penn State University, AT, KeyBanc, Journal, U.S, Running, Capital Advisors, Thomson Locations: Major, Bengaluru, Washington, Dallas

☆ US telecom stocks fall on report Amazon in talks for wireless services
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +2 min

Bloomberg News reported that Amazon was negotiating to get the lowest possible wholesale prices and could offer wireless plans for $10 a month or lower to Prime members through these partnerships. AT&T declined to comment, while T-Mobile said it was not in discussions with Amazon for inclusion of its wireless in Prime service. The details of the potential deals between Amazon and the wireless carriers were not immediately known. Dish's shares were an outlier in telecom stocks with a gain of 22%. The company's shares had also soared in May after a Wall Street Journal report that it was in talks to sell its wireless plans through Amazon.

Persons: Christopher Ali, Brandon Nispel, Yuvraj Malik, Tanya Jain, Akash Sriram, Aditya Soni, Sheila Dang, Nivedita Bhattacharjee Organizations: Verizon Communications Inc, Mobile US Inc, Inc, U.S, Bloomberg News, Amazon, Penn State University, Verizon, Mobile, KeyBanc, Markets, Dish Network Corp, Journal, Thomson Locations: Amazon, Bengaluru, Dallas

Catalent, one of the top contract manufacturers for pharmaceutical companies, said a drop in revenue from COVID vaccine manufacturing had coincided with higher-than-expected costs and production challenges at its facilities in Indiana and in Brussels. Adding to woes, its cost-cutting plans have been delayed due to regulatory inspections and subsequent corrective actions, the company said. Despite Friday's gain in shares, Catalent's stock is down 19% since it first disclosed production challenges at its three major production plants in April. Catalent cut its full-year revenue to a range of $4.25 billion to $4.35 billion, from its prior forecast of $4.63 billion to $4.88 billion. It also slashed its annual adjusted net income forecast to between $187 million and $228 million, from between $567 million and $648 million previously.

Hardware sales are set to decline over 7% to $71.93 billion in the second quarter, according to 23 analysts polled by Visible Alpha. Mac sales, which account for nearly a tenth of Apple's revenue, likely fell by a quarter, while revenue from flagship iPhone is estimated to have declined by over 3%. Davidson, who expects iPhone sales there to rise. That would mark its second lowest growth rate since at least the first quarter of fiscal 2017. He expects Apple to have added 30 million users to its active installed user base - the number of active Apple devices in the world.

☆ As lithium miners gear up for Q1 earnings, investors focus on tumbling prices
▼ + stars: | 2023-05-02 | by ( Arshreet Singh | ) www.reuters.com time to read: +2 min

Strong demand for EVs and limited supply of the metal pushed lithium prices to record levels in November last year, soaring more than ten-fold from early 2021. But a slump in demand for electric vehicles in China, the world's biggest market, left a stockpile of the metal and drove prices down. Lithium prices have fallen by at least a third in the first quarter, according to an index tracked by Benchmark Mineral Intelligence, raising concerns miners will see a hit to their bottomline. Though falling spot prices have raised red flags for investors over the long-term outlook of lithium miners, analysts believe spot prices will rise again as we get closer to the end of the year. In the long run, supply will continue to fall short of demand, which will help the miners, he added.

☆ Analysts are torn on how Fox News' ratings will be affected after Tucker Carlson's ousting craters the company's stock
▼ + stars: | 2023-04-25 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +2 min

Tucker Carlson's exit from Fox News wiped $962 million from the network's market value on Monday. But analysts are torn about the long-term impact of the host's ouster on Fox Corp stock. But financial analysts are torn about the impact Carlson's departure will have on Fox Corporation's stock — which lost about $962 million in market value on Monday after news broke of the departure. Matthew Tuttle, the CEO and CIO of Tuttle Capital Management, told Bloomberg that Carlson's exit is "definitely going to leave a mark on Fox." But not all analysts shared the gloomy projection for Fox Corp stock in the long term.

April 25 (Reuters) - Star host Tucker Carlson's abrupt exit from Fox News is likely to hit short-term ratings but could nudge more mainstream advertisers to consider a network they have snubbed for being too partisan, investors and analysts said. News of his departure on Monday wiped nearly $1 billion from the market valuation of the network's parent company, Rupert Murdoch-controlled Fox Corp (FOXA.O). "It's a huge deal," said Matthew Tuttle, head of Tuttle Capital Management, an investment firm that is betting against Fox shares. The conservative-leaning Carlson's prime-time show was the highest-rated cable news program in the key 25-to-54 age demographic on Fox News - the most-watched U.S. cable news network. It's likely that advertisers who were seeking that audience may have limited other options for conservative news viewership without skewing too conservative."

☆ Wall Street is looking at the positive side of Samsung’s 96% profit drop, production cuts. Here's why
▼ + stars: | 2023-04-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Samsung's plan to cut memory chip production signals a potentially sooner-than-expected recovery for the broader memory chip market, according to Wall Street. Investors seemed to laud the news, sending shares of Micron Technology and Western Digital up about 8% each on Monday. Citi analyst Christopher Danely called the news a "huge positive" for the dynamic random access memory, or DRAM, industry. But while the cuts from Samsung should help ease some pricing pressures, caveats persist, with Morgan Stanley's Joseph Moore expecting a "fairly muted" upturn from the production cuts and slow margin recovery even in 2024. "Investors are much more excited than industry contacts around this, given obvious green shoots implied from production cuts," he wrote.

☆ Analysts bail on Lyft after latest earnings, say Uber is cementing its place as leader
▼ + stars: | 2023-02-10 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Lyft shares fell more than 30% during Friday premarket trading as traders weighed a weaker-than-expected forecast from the ridesharing company in its most recent earnings report. LYFT 1D mountain Lyft shares tumble For market observers on Wall Street, that was hardly a good enough explanation. As of Thursday's close, Lyft shares jumped more than 47%, following a 74% drop in 2022. While the analyst did not have a price target available, his previous target in January was $24 for the stock. Lastly, Loop Capital's Rob Sanderson downgraded Lyft to hold from buy, and dropped the price target to $10 from $17.

☆ Dow forecasts dour quarterly revenue, says will slash 2,000 jobs
▼ + stars: | 2023-01-26 | by ( Ankit Kumar | ) www.reuters.com time to read: +2 min

Jan 26 (Reuters) - Dow Inc (DOW.N) on Thursday forecast current-quarter revenue below estimates and said it would cut about 2,000 jobs as the chemical giant navigates challenges including inflation and supply chain disruptions. Dow Chief Financial Officer Howard Ungerleider said while the pace of inflation has moderated, the overall cost levels remain elevated. The company expects the recent shifts in China's COVID policy to stimulate demand, but that would take some time to take effect. "Chemical prices are likely to go up in the first quarter (2023) and we will see better demand in the second quarter," said Aleksey Yefremov, analyst at KeyBanc Capital Markets. It expects 2023 capital expenditure be $2.2 billion, about 21% higher than last year.

☆ Medical device stocks tend to beat the market, and analysts expect these names to see big gains
▼ + stars: | 2023-01-23 | by ( Bertha Coombs | ) www.cnbc.com time to read: +4 min

Medical device makers, like many manufacturers, have faced challenges over the last year from inflationary supply chain costs, staffing shortages and the strong dollar impacting sales overseas. However, since 2007 the device sector ETF has averaged a gain of 14% per year, 6 percentage points better than the broader market index over the same period. More than 60% of analysts rate the shares a buy, with a mean price target implying 34% upside. Nearly 90% of analysts rate the stock a buy, with mean price target of $53, implying more than 30% upside. BTIG analysts Marie Thibault and Ryan Zimmerman think that M & A could be another catalyst for the medical device sector in 2023, with robotic surgery players likely to be of particular interest.

☆ Stocks making the biggest moves midday: Bed Bath & Beyond, Coinbase, Virgin Orbit and more
▼ + stars: | 2023-01-10 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Discovery — Shares of the media company jumped more than 6% after Bank of America added the stock to the "US1" list. Coinbase — Shares jumped almost 6% after the cryptocurrency exchange shared plans to trim its workforce by 20%. Bed Bath & Beyond — The retailer jumped nearly 19%. Frontline — Shares of the shipping company jumped 26% after Frontline announced that it was terminating a deal to combine with Euronav. Agilent Technologies — Shares rose more than 4% a day after the company announced a $2 billion share repurchase program.

☆ KeyBanc upgrades Bumble, says shares can rally more than 30% as consumers continue turning to online dating
▼ + stars: | 2023-01-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

It's time for investors give shares of Bumble a little more love, according to KeyBanc Capital Markets. Analyst Justin Patterson upgraded shares of the mobile dating company to overweight from a sector weight rating, citing increasing conviction in Bumble's ability to capitalize on online dating trends. As demand for online dating holds up, Patterson expects the company to benefit from further expansion in international markets, moderating foreign exchange headwinds and growth within its compliments offering. "We believe Bumble is benefiting from a secular trend toward online dating globally, and a search for more meaningful relationships," Patterson said. "By focusing deeply on product, brand, and trust and safety, we believe Bumble has created a business that can garner a meaningful user base across geographies."

☆ KeyBanc says former meme stock Bed Bath & Beyond will fall to 10 cents after bankruptcy warning
▼ + stars: | 2023-01-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Don't be surprised if beaten-down retail stock Bed Bath & Beyond falls even more from here, according to KeyBanc Capital Markets. "We do not see Bed Bath & Beyond as a strategic fit for any of the home furnishings retailers in our coverage group, but see interest from retailers in the company's Bed Bath & Beyond store leases, which are ~30,000 sq. ft. and generally in good locations," wrote analyst Cristina Fernández in a Friday note. "Over the past few months, management has stemmed the bleeding, improved liquidity, and improved relations with these two stakeholders," wrote analyst Christopher Horvers. Bed Bath & Beyond shares have experienced a roller-coaster ride in recent years, as smaller traders on Reddit piled into the heavily shorted retailer.

☆ These stocks set for high profit margins could rally more than 50% ahead, according to analysts
▼ + stars: | 2023-01-02 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

CNBC Pro screened FactSet for stocks expected to have gross margins of more than 50% this year, and predicted to rally by the same magnitude. More than 80% of analysts covering those two stocks gave them a buy rating. And on the whole, analysts expect both firms' gross margins to grow by more than 70% in 2023, according to FactSet. Two stocks in the list stood out not just for high expected gross margin growth and upside, but also for receiving a buy rating from all analysts who cover them, according to FactSet. Financial services firm BTIG gave Expedia a buy rating in a December note, and a price target of $150, or 72% upside.

☆ Will 2023 be a better year for the chip sector? Wall Street pros weigh in and share their top picks
▼ + stars: | 2022-12-27 | by ( Zavier Ong | ) www.cnbc.com time to read: +5 min

It's been a tough year for the once-booming semiconductor sector. But several Wall Street pros are urging investors to take a longer-term view on the sector, given the importance of the semiconductor chip in several key secular trends. The bank said the next leg of growth for the sector will be led by government spending on renewable energy and carbon neutrality. The bank named Analog Devices , Marvell Technology , Globalfoundries and Microchip Technology among its top stock picks in the chip sector. TSMC in the headlines One chip stock that has consistently been on investors' radars is semiconductor powerhouse Taiwan Semiconductor Manufacturing Company (TSMC).

☆ Homebuilder bullfight: Lennar vs. Meritage Homes
▼ + stars: | 2022-12-13 | 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 EmailHomebuilder bullfight: Lennar vs. Meritage HomesKenneth Zener, equity research analyst with Keybanc Capital Markets, and Stephen Kim, homebuilder sector analyst with Evercore ISI, join 'Power Lunch' to discuss the relative merits of Lennar and Meritage Homes.

Gary Works, still one of the largest steel mills in the U.S., employs 4,000 people and has 7.5 million net tons of annual raw steel capability. Big River Steel recently installed a slushie machine to help employees cool off. But the algorithms deployed at Big River can’t plug and play in other mills, according to Christian Holliday, senior director of Digital Studio and Big River Steel Integration at U.S. Steel. Bandwidth is notoriously poor in environments like steel mills that are full of concrete and steel. The Big River acquisition hasn’t provided a one-size-fits-all template for modernization at U.S. Steel’s older plants.

☆ Roku's 'lack of profitability' justifies a discount to its peers, KeyBanc says in downgrade
▼ + stars: | 2022-11-29 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Roku faces a challenging road to profitability, according to KeyBanc Capital Markets. The firm downgraded shares of the beaten-up streaming stock to sector weight from overweight in a note to clients Monday. Patterson noted that Roku's 2023 and 2024 enterprise value-to-sales multiples of 1.9 times and 1.6 times are well below peer expectations and historic averages of 3.7 times and 3.2 times, respectively. "However, we believe share losses and lack of profitability warrant a discount vs. peers," he said. The firm adjusted fourth-quarter estimates and 2022 to 2024 revenue, gross profit and EBIDTA estimates to reflect its sentiment shift.

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