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CNN —A huge bushfire raging for over a week in central Australia has come dangerously close to the popular tourist town of Tennant Creek, as authorities warn that changing wind conditions could pose a risk to residents. Home to about 3,000 people, Tennant Creek is a popular place for travelers to stop and rest as they drive through the outback along the Stuart Highway between Alice Springs and Darwin. Back-burning operations aimed at slowing the fire's spread have caused increased smoke within the Tennant Creek Township. Extra crews from South Australia arrived in Tennant Creek Wednesday afternoon, Fuller told ABC. Earlier this week, the Bureau of Meteorology forecast extreme fire danger for several areas within the Northern Territory.
Persons: Nicole Manison, Tennant, Tony Fuller, ” Manison, Fuller, James Gray, Spence, Gray, , ” Gray, , “ We’ve, ” Fuller Organizations: CNN, Northern, Authorities, Australian Broadcasting Corporation, Northern Territory, South Australia, ABC, Northern Territory Police, Emergency Services, Australian Defence Force, Alice, Australasian Fire Authorities Council, Meteorology Locations: Australia, Tennant, Alice Springs, Darwin, Barkly, Northern, South, New Zealand, Northern Territory
Here are Thursday's biggest calls on Wall Street: Barclays initiates Jabil and Flex as overweight Barclays initiated several technology manufacturers Thursday and said it sees margin expansion. Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating on the stock heading into Apple's iPhone event next week. Barclays initiates LPL Financial as overweight Barclays said the financial services company is a "solid organic grower at reasonable valuation." Barclays downgrades Seagate to equal weight from overweight Barclays downgraded Seagate mainly on valuation. Morgan Stanley reiterates Meta as overweight Morgan Stanley said it's staying bullish on shares of Meta.
Persons: Wells, Goldman Sachs, Morgan Stanley, McDonald's, Apple, it's, Jefferies, Canaccord, Johnson, Bernstein, Tesla, underperform Bernstein, Raymond James, Dell, Dan Jedda, Stifel, Riley downgrades Crocs, Riley, Truist, Raymond James downgrades Dave, Buster's, Guggenheim, Meta Organizations: Street, Barclays, JBL, EV, HSBC, Citi, Micron Citi, Micron, Oracle, Johnson, JPMorgan, Netflix, Tesla, DELL, Bank of America, Cloud Computing, LPL, Vail Resorts, Seagate, CyberArk Software Ltd, Meta, Nvidia Locations: 3Q23, Vail
CNN —Three US Marines who died when their Osprey aircraft crashed during a military exercise in Australia have been identified by their unit. Air Force CV-22 Ospreys take off from Kirtland Air Force Base, New Mexico, for a training mission. April 8, 2010: US Air Force Osprey crashes in southern Afghanistan, killing three US service members and one civilian employee. August 5, 2017: An MV-22B Osprey crashes off the coast of Australia, leaving three Marines dead. June 8, 2022: Five US Marines die after an MV-22 Osprey crashes during a training mission Wednesday near Glamis, California.
Persons: Corporal Spencer R, Captain Eleanor V, Major Tobin J, Lewis, Collart, LeBeau, , , Brendan Sullivan, Lloyd Austin, Michael Murphy, Sullivan, ” Sullivan, Markus Maier, Samuel King An, Barack Obama, Zachary Dyer, Laura Yahemiak Sailors, George Washington, Supertyphoon Haiyan, Trevor Welsh, stow, Smith, drogue, Christopher Carranza An, Todd F, Lance Cpl, Christopher Mendoza Sailors, Richard, Kevin V, Jonathan Snyder, Cedric Leighton, Bellows Organizations: CNN, Marines, Osprey, Royal Darwin Hospital, AP US, USMC, Twitter, Marine Osprey, Darwin, Northern Territory Police, Australian Defence Force, Northern, Northern Territory Government, CareFlight Air, Mobile Services, NT Health, Care, Tiwi, Government, Air Force, Ospreys, Kirtland Air Force Base, . Air Force, Staff, Air, Special Operations Squadron, Munitions, Systems, Eglin Air Force Base, Tech, Refueler, Squadron, Marine Helicopter Squadron, KC, 130J, Marine Forces Pacific, Greenland . U.S . Air Force, 3d Marine Expeditionary, U.S . Marine Corps, Tiltrotor, Supertyphoon Haiyan . U.S . Navy, Trevor Welsh Sailors, U.S . Navy, Shannon, Travis Air Force Base, 24th Marine Expeditionary Unit, . Marine Corps, Michalek, Moron Air Base, Cunningham, Tactics Squadron, of, U.S . Air Force, US Air Force, “ CNN, US Defense Department, An Air Force, Corps Locations: Australia, Melville, Northern Territory, New Mexico, Florida, Philippines, VMM, Okinawa, Japan, Brisbane, Greenland . U.S, U.S, Supertyphoon Haiyan ., San Francisco, New York, Michalek U.S, Africa, Spain, Sigonella, Italy, Field, Hamilton Island, United States, Virginia, Arizona, North Carolina, Afghanistan, Morocco, Navarre , Florida, Oahu, Hawaii, Syria, Norway, Glamis , California
A business owner said on social media that someone tried to break into his premises. Instead of calling the police, Jeff Usher said he wanted to offer "a better way" to the culprit. "It's not that cool to use a jimmy bar on our doors," the Custom Cabinets Katherine owner said. Usher told the NT News his business employs two apprentices, four tradespeople and an office manager. "I'm not trying to save the world – I just reckon some of these kids need to be built up, not a kicking," Usher told the newspaper.
Persons: Jeff Usher, Katherine, Usher, I'm Organizations: Service, Facebook, ABC News Australia, Northern Territory, NT Locations: Wall, Silicon, Australian, Australia's Northern Territory, Northern, Darwin
Here are Thursday's biggest calls on Wall Street: Citi reiterates Nvidia as buy Citi said it's bullish heading into Nvidia earnings next week. Citi reiterates Apple as buy Citi said it's bullish heading into the company's iPhone 15 launch. Oppenheimer reiterates Nvidia as outperform Oppenheimer said it's bullish on shares of Nvidia heading into earnings next week. Bank of America reiterates TJX Companies as buy Bank of America said the stock is "well positioned for continued market share gains." Bank of America reiterates Wells Fargo as buy Bank of America said Wells Fargo has one of the most attractive risk/rewards of the big banks.
Persons: it's, Charles Schwab, Jefferies, KeyBanc, Key, Oppenheimer, Rosenblatt, Evercore, Bill Ready, Meta, SoFi, Wells, Wells Fargo Organizations: Citi, Nvidia, NVIDIA, JPMorgan, Deutsche Bank, Deutsche, Novartis, Amgen, Apple, Arista, Networking, BMO, Green, Bank of America, Adobe, of America Adobe, TJX Companies, Enphase Energy Locations: Mexico, Sunrun
Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating on Apple after its earnings report Thursday. Rosenblatt downgrades Apple to neutral from buy Rosenblatt said Apple is sitting in a "slowdown phase." Citi upgrades Intercontinental Exchange to buy from neutral Citi said it sees "improving signals across the platform" for the exchange company. Citi opens a positive catalyst watch on Apple Citi said it sees upside ahead of the company's new iPhone unveil in September. Citi reiterates Disney as buy Citi said it's sticking with its buy rating on stock heading into earnings next week. "
Persons: Stephens, it's, Morgan Stanley, Apple, tonight's, Rosenblatt, Raymond James, Goldman Sachs, Goldman, Oppenheimer, Tim Horton's, TD Cowen, Read, Truist, Lamb Weston, Stifel, Evercore Organizations: bil, Bank of America, AWS, underperform Bank of America, Apple, AMD, Citi, Intercontinental Exchange, ICE, Galactic, Virgin Galactic, Brands, Restaurant Brands, SSS, TH, BK, TD Cowen downgrades Moderna, Apple Citi, Disney, JPMorgan, Petrobras, Petrobras –, PayPal Locations: Coinbase, Burger, F1Q23
Investors combing for value ahead of another big week of earnings should look no further, according to analysts. CNBC Pro looked through top Wall Street research to find stocks that are underappreciated as earnings season continues. Meanwhile chatter around the stock remains mostly balanced and positive, according to UBS. "We model an ~8% 5-yr. EPS CAGR and rate the stock buy as we believe this growth potential remains underappreciated," Serna said. ... We model an ~8% 5-yr. EPS CAGR and rate the stock buy as we believe this growth potential remains underappreciated."
Persons: Mauricio Serna, Lee, Wrangler, Serna, Jason Kupferberg, it's, Kupferberg, Matt Niknam, DigitalBridge, Niknam, Baird, Jassy, DBRG, Morgan Stanley Organizations: CNBC Pro, Kontoor Brands, International, Kontoor Brands UBS, UBS, Bank of America, Deutsche Bank, TAM
A woman walks past a Taiwan Semiconductor Manufacturing Company (TSMC) logo at the Hsinchu Science Park in Hsinchu on July 5, 2023. (Photo by Sam Yeh / AFP) (Photo by SAM YEH/AFP via Getty Images)Taiwan Semiconductor Manufacturing Company , the world's largest chipmaker, posted a second-quarter profit plunge Thursday as demand for consumer electronics continues to slump. TSMC said business was impacted by macroeconomic headwinds "which dampened the end market demand, and led to customers' ongoing inventory adjustment." This is the company's first quarterly net income decline since the second quarter of 2019. Apple typically releases its latest iPhone in September so it is likely ordering chips from TSMC in the third quarter.
Persons: Sam Yeh, TSMC, Wendell Huang Organizations: Taiwan Semiconductor Manufacturing Company, Hsinchu Science, SAM YEH, Getty Images, Apple Locations: Hsinchu, Hsinchu Science Park, AFP, Taiwan
Netflix posted earnings of $3.29 a share on $8.19 billion in revenue. However, IBM reported earnings that topped analysts' estimates as the company expanded its gross margin. United Airlines — Shares rose 3% after United Airlines reported record quarterly earnings and said it expects a strong third quarter as travel demand surges. During the period, the company reported a rebound in customer deposits. The company reported earnings of 92 cents a share on $2.35 billion in revenue.
Persons: Refinitiv, it's, Johnson, Horton —, Horton, Blackstone, Blackstone — Blackstone, Morgan Stanley, Bud Light, , Macheel, Alex Harring, Jesse Pound, Yun Li Organizations: Netflix, IBM, Vegas Sands, Refinitiv, Taiwan Semiconductor, Taiwan Semi, Revenue, Discover, Discover Financial, United Airlines, Bancorp, American Airlines —, Airlines, Blackstone —, Anheuser, Busch Locations: Los Angeles , California, Vegas, Taiwan
Lucovsky built software for Google's AR products, including its recently canned "Iris" smart glasses. He said that Google's "unstable commitment and vision" to AR weighed on his decision to leave. Mark Lucovsky, a senior engineering director who was hired to lead work on Google's augmented-reality products, has left the company. "The recent changes in AR leadership and Google's unstable commitment and vision has weighed heavily on my decision," Lucovsky told Insider following his departure. Since shelving Iris, Google has sharpened its focus on building an Android platform to be used on an upcoming Samsung headset.
Persons: Mark Lucovsky, Google's, Lucovsky, Clay Bavor, he'd, Steve Ballmer, Ballmer Organizations: Google, Samsung, Microsoft, Meta
Goldman Sachs reiterates Snowflake as buy Goldman said it's standing by its buy rating after the company's investor day. JPMorgan reiterates Pepsi as overweight JPMorgan said Pepsi is a "safe haven" heading into earnings in July. Wells Fargo upgrades Pinterest to overweight from equal weight Wells Fargo said it sees "above-consensus revenue growth" for Pinterest. Deutsche Bank downgrades Walgreens to hold from buy Deutsche Bank downgraded the stock after its disappointing earnings results earlier this week. Deutsche Bank initiates Western Alliance as hold Deutsche Bank said the regional bank's "funding pressures persist."
Persons: Goldman Sachs, Goldman, Snowflake, it's, Wells, Wells Fargo, Daiwa downgrades Uber, EBITDA, Deere, Canaccord, Oppenheimer, Morgan Stanley, CarMax, Needham, CFRA, KeyBanc Organizations: Nvidia, JPMorgan, Pepsi, Nike, Netflix, Deutsche Bank, Walgreens, RBC, Western Alliance, KMX, Delta, Barclays, Bank of America, Old Dominion, of America, Dominion, ZoomInfo Technologies, Lincoln, EV Locations: China, NVDA, Canada, Old
KeyBanc thinks a resumption in student loan repayments in the third quarter will slam Target's margins. Target's stock is down nearly 11% from the start of the year and more than 19% over the past three months. The company's latest quarterly results showed Target struggled to grow sales year over year. TGT YTD mountain Target has been hit by a concerns over a weakening consumer that's cautious to overspend. And analyst Bradley Thomas said a more cautious consumer that's more keen on budgeting coupled with macro headwinds will hinder Target's long-term recovery — especially as student loan payments resume later this year .
Persons: KeyBanc, Bradley Thomas, Thomas, — CNBC's Michael Bloom Locations: Target
Loop upgrades Meta to buy from hold Loop said it sees a "brighter revenue picture" for the social media giant. Morgan Stanley reiterates Exxon Mobil as overweight Morgan Stanley said it has "high confidence" in the oil and gas giant. We do think consensus estimates for 2023/24 remain too high but believe the buy-side is more aligned with our below-consensus views." Citi initiates AerCap as buy Citi said demand should remain attractive for the aviation leasing company. Deutsche Bank upgrades DuPont to buy from hold Deutsche said DuPoint is well positioned in an uncertain macro. "
"We initiate coverage of AMRC shares with a Buy rating and $60 PT implying ~45% upside potential." Barclays downgrades Shoals to underweight from equal weight Barclays said in its downgrade of the solar company that shares of Shoals are overvalued. Morgan Stanley upgrades Dell to overweight from equal weight Morgan Stanley says it's getting more constructive on shares of the PC giant. " Barclays initiates Ferrari as equal weight Barclays said in its initiation of the stock that it's waiting for a better entry point. Cowen reiterates Target and Walmart as outperform Cowen said it's standing by its outperform rating on the big box giants.
A plane was forced to turn round after fighting broke out on board, News.com.au reported. Fights allegedly broke out on an Australian domestic flight last week that ultimately led to the plane being turned round, a window getting smashed, and four passengers being charged, News.com.au reported. A spokesperson for the Australian Federal Police told News.com.au that the flight had to be turned around because of an "incident." Three passengers were arrested and charged when the plane landed on Groote Eylandt, the outlet reported. Though the flight was chartered by Groote Eylandt Mining Company, Insider understands that the passengers involved in the incident were members of the public.
Carlson, the highest-rated single host at Fox News, did not respond to multiple requests for comment. The decision to part ways with Carlson was made Friday evening by Fox Corporation chief executive Lachlan Murdoch and Fox News chief executive Suzanne Scott, a person familiar with the matter said. During his time as a prime time host on Fox News, Carlson ascended to become one of the most influential figures inside the GOP. In a text on Nov. 5, 2020 — two days after the 2020 election — Carlson wrote his producer Alex Pfeiffer: “We worked really hard to build what we have. Last month, she sued Fox News, Carlson, his executive producer Justin Wells and other figures, as well as Fox’s parent corporation.
UBS is upgrading Taiwanese foundry United Microelectronics from "neutral" to "buy." The Swiss investment bank raised its price target on the stock from 37 Taiwan dollars ($1.20) to NT$75, representing a potential upside of nearly 50% from its closing price on Wednesday. UMC's year-to-date rerating reflects the "increasing optimism" about the semiconductor industry's recovery and the greater profitability of the stock, the analysts said. UBS isn't the only bull UBS isn't the only bank bullish on United Microelectronics. In a note on April 19, the bank maintained its "outperform" rating on the stock and raised its price target on the stock to NT$60.
But the focus of analysts were the price cuts and how far the company will go to juice demand. That said, this is balanced by concerns of increased EV competition, further price cuts, and macro challenges. Evercore ISI, In Line rating, $165 price target: "Gross margin red line of "20%" breached (Q2 will be lower)." Bernstein, Underperform rating, $150 price target: "Importantly, despite significant price cuts, demand still appears challenged for Tesla and price elasticity appears to be more muted than Tesla believed. Citigroup, Neutral rating, $175 price target (Down from $192): "The Q1 margin miss confirms that price cuts weren't offset to the extent previously expected.
UBS upgrades Exxon to buy from neutral UBS said in its upgrade of the oil and gas giant that it likes the company's balance sheet. Bank of America reiterates Meta as buy Bank of America says it likes "self-help stocks in an uncertain macro." Bank of America reiterates Nvidia as buy Bank of America raised its price target on the AI beneficiary to $340 per share from $310. Bank of America downgrades CDW to neutral from buy Bank of America downgraded the technology products company after its disappointing earnings report on Tuesday. Wolfe reiterates Amazon as outperform Wolfe says it's standing by its outperform rating on the stock heading into earnings next week. "
Organizations: ~$
Here are Friday's biggest calls on Wall Street: Bank of America reiterates Amazon as buy Bank of America said it's standing by its buy rating on the stock. "Our Buy rating is based on: 1) positive feedback from our proprietary Sleep survey that points to healthy underlying US volumes, 2) lingering pent-up demand due to US staffing shortages." William Blair reiterates Charles Schwab as outperform William Blair said it's standing by its outperform rating on the stock heading into earnings next week. Barclays reiterates Disney as equal weight Barclays said it sees slowing streaming growth heading into Disney earnings in early May. " Stifel reiterates Microsoft as buy Stifel said it's standing by its buy rating on Microsoft heading into earnings later this month.
"Yue guang zu" ("moonlight clan") refers young singles in Greater China who go broke at the end of each month, or live paycheck to paycheck. Hsu belongs to a group of people in Taiwan, typically young and single workers, called the "yue guang zu" — the so-called "moonlight clan." Eric Hsu Civil engineerBut when a serious knee injury took him out of work for two weeks without pay, Hsu realized he was unable to support himself. "Young people would rather give up that dream and spend money on things they are guaranteed to get today." After his experience, he canceled his credit cards two years ago and committed to saving one third of his salary each month.
Here are Monday's biggest calls on Wall Street: Bernstein reiterates Tesla as underperform Bernstein said more price cuts are coming for Tesla. Morgan Stanley reiterates Walmart as overweight Morgan Stanley said its latest survey shows Walmart+ membership is at a record. UBS reiterates McDonald's as buy UBS said the fast food giant is extremely well positioned. UBS upgrades Regions Financial to buy from neutral UBS said in its upgrade of the regional bank that it likes the company's balance sheet. Northcoast upgrades McDonald's to buy from neutral Northcoast said it sees improved profitability for McDonald's .
Morgan Stanley is taking a step back on shares of Charles Schwab even after the stock's significant March slump. Analyst Michael Cyprys downgraded the financial services company to equal weight from overweight, citing an uncertain earnings outlook that makes the risk-reward balance for shares appear less compelling. SCHW YTD mountain Charles Schwab shares in 2023 The collapse of Silicon Valley Bank earlier this month rattled the investing community, sending shockwaves across the broader banking industry and financial markets. Cyprys views the continued migration of cash deposits into money funds as a pressure point likely to weigh on Schwab's near-term earnings outlook. "Limited visibility around timing/magnitude of cash sorting bottoming out, likely weighs on valuation NT," he wrote.
Here are Tuesday's biggest calls on Wall Street: Barclays reiterates Apple as equal weight Barclays said Apple advertising on its own apps is very underappreciated. Bank of America upgrades Paramount to buy from neutral Bank of America said the media company has a "unique collection of assets." Bank of America downgrades Fox to neutral from buy Bank of America said it sees a lack of near-term catalysts for Fox . Wells Fargo upgrades Carnival to equal weight from underweight Wells said it sees a more balanced risk/reward for the cruise operator. Morgan Stanley reiterates Dick's as overweight Morgan Stanley said shares of Dick's are undervalued. "
Barclays reiterates Charles Schwab as equal weight Barclays said Street estimates are too high for Charles Schwab. Guggenheim upgrades Spotify to buy from neutral Guggenheim said Spotify shares present an attractive investment opportunity. Barclays upgrades Nike to overweight from equal weight Barclays upgraded the apparel giant after its strong earnings report on Tuesday. " Barclays reiterates Nvidia as overweight Barclays said Nvidia is still the "king" of AI after the company's GTC conference event Tuesday. Goldman Sachs reiterates Tesla as buy Goldman said Tesla is a key beneficiary of the Inflation Reduction Act.
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