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Netflix and a popular beauty stock were featured among Friday's biggest analyst calls. Analyst Rob Sanderson initiated coverage of DoorDash with a buy rating and $170 price target, citing strong execution. Alongside the upgrade, Blum downgraded Sunnova Energy to an equal weight rating and slashed his price target to $6 from $11, citing a higher-for-longer rate environment. "Share gains upmarket by Shopify support confidence in the durability of growth against tempered consumer spending expectations," wrote analyst Keith Weiss. The stock has tumbled 11% this year, but could rally 22% based on the firm's adjusted $85 price target.
Persons: Canaccord Genuity, Rob Sanderson, DoorDash, Sanderson, – Samantha Subin, Wolfe, Steven Chubak, BAC's, Chubak, bode, Wells, Michael Blum, Blum, Biden, Samantha Subin, Morgan Stanley, Keith Weiss, Weiss, — Samantha Subin, Canaccord, Maria Ripps, Steven Cahall, Price, Doug Anmuth, Morgan Stanley's Benjamin Swinburne, Jefferies, Ashley Helgans, Helgans, Fred Imbert Organizations: CNBC, Netflix, Friday's, Jefferies, Capital, Industry, Wolfe Research, Bank of America, of America, SCHW, Sunnova Energy, NOVA, Ulta Locations: Wells Fargo, China, Thursday's, Canada
Royals often have to stick to a dress code, but sometimes they surprise fans with a daring look. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementWhen you think of royal fashion, you likely think of extravagant ball gowns, prim coatdresses, or jewelry worth tens of thousands of dollars. And on other occasions, royals have been known to step outside their comfort zones and wear bold looks. Take a look at some of the most daring outfits royals have worn to date.
Persons: Kate Middleton, Meghan Markle, Diana wasn't, , prim coatdresses, Meghan Markle's, shouldn't Organizations: Royals, Service
CNN —Netflix, the dominant player in streaming, says it grew sales, profits and added more than 9 million subscribers as it revealed first-quarter results on Thursday. In total, Netflix now has 269.6 million subscribers, a record high. In recent months, Netflix has made moves to expand and even radically reinvent its business in an effort to juice profit. In January, Netflix announced it had acquired the exclusive rights to "WWE Raw" live, currently seen on Comcast's USA cable network. In January, Netflix’s president of advertising, Amy Reinhard, shared that Netflix’s ad-tier had more than 23 million users.
Persons: , eMarketer, Ross Benes, Wall, Peacock, ” Alicia Reese, , Greg Peters, ” Reese, Reese, Robert Falconer, Amy Reinhard, Peters, We’ve Organizations: CNN, Netflix, Disney, Max, Warner Bros, City, Wedbush Securities, WWE, USA, Rockstar Locations: Hulu, United States
Wall Street anticipates a largely rosy setup for the stock, with many forecasting that the company beats, or reports in line with expectations. The anticipation contributed to some Wall Street firms lifting their price targets heading into the print. Under the paid sharing plan , Netflix account owners can buy an extra member slot and invite people outside their household to use the service. "After 1Q24, Netflix begins to lap the paid sharing benefits - most significantly in 2H24," wrote Morgan Stanley's Swinburne. Reason for caution Despite Netflix's strong run this year and the benefits reaped through paid sharing, some Wall Street analysts see reasons for caution.
Persons: , Morgan Stanley, Benjamin Swinburne, Doug Anmuth, Morgan Stanley's Swinburne, Piper Sandler, Wall, Anmuth, Goldman Sachs, Eric Sheridan, Bryan Kraft, Kannan Venkateshwar, Deutsche Bank's Kraft, Piper Sandler's Matt Farrell, MoffettNathanson's Michael Nathanson, Street's, Farrell, Citi's Jason Bazinet Organizations: Netflix, LSEG, Deutsche Bank, Barclays, Street, Kraft, Deutsche, WWE, NBA, Netflix's WWE Locations: 2H24
Taylor Swift has been making bold fashion statements for over a decade. And on the red carpet, Swift isn't afraid to wear gowns with plunging necklines or daring slits. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementOver the past few years, Taylor Swift has solidified her status as a powerhouse in the music industry. Her style has changed throughout her decade-plus in the public eye, and over the years, Swift has experimented more and more with daring fashion.
Persons: Taylor Swift, Swift, Organizations: Service, Poets Department
Deutsche Bank analyst Emmanuel Rosner is defending his decision to downgrade Tesla as the company potentially shifts away from building its low-cost vehicle — noting major changes to the stock's investment case. "Earnings are under pressure, free cash flow is under pressure," he told CNBC's " Squawk on the Street " on Thursday. The stock fell 3% on the back of the downgrade, contributing to its 39% year-to-date loss. Rosner viewed the Model 2 as a potential solution to Tesla's aging lineup, recent price cuts and "structural" issues that have been riddling the company as of late. "We believe that this creates much, much downside to earnings and free cash flow estimates for the foreseeable future," he said.
Persons: Emmanuel Rosner, Tesla, CNBC's, Rosner Organizations: Deutsche Bank
CNN —Netflix, the dominant player in streaming, is expected to announce its first-quarter results on Thursday after enjoying months as a Wall Street darling. But much of the company’s past growth and success, analysts say, has come from its old, well-established business model. In recent months, Netflix has made moves to expand and even radically reinvent that business. Last year, Netflix made a particularly risky bet by pushing users who share passwords to create their own accounts — but that paid off. Netflix’s reinventionFor Netflix, last month’s Oscars were a disappointment: Though the streaming service led its rivals in nominations, it took home just one award, for best live-action short film.
Persons: Peacock, , Ross Benes, ” Alicia Reese, , Greg Peters, ” Reese, Reese, Robert Falconer, Amy Reinhard, “ I’m, Peters, We’ve Organizations: CNN, Netflix, Disney, Max, Warner Bros, City, Wedbush Securities, WWE, USA, Rockstar Locations: Hulu, eMarketer, United States
New York CNN —Despite overcoming a crisis in 2023, the pain isn’t over for America’s regional banks. Shares of New York Community Bank have tumbled 71%, Bank OZK shares have slid 16% and Webster Financial shares have lost 11%. Regional banks reported wide losses on their profits during the first quarter. PNC projects that its net interest income will fall between 4% to 5% in 2024 from last year. “I’m worried about a handful of [regional banks],” Bair told CNBC on Tuesday.
Persons: that’s, Jerome Powell, , ” Powell, Sheila Bair, “ I’m, ” Bair, ” Tesla, Tesla, Elon Musk, Chris Isidore, Musk, Chancellor Kathaleen McCormick, Read, Samantha Delouya, , Maximilian Kotz, Leonie Wenz, Noah Diffenbaugh Organizations: CNN Business, Bell, New York CNN, Regional Banking, New York Community Bank, Bank OZK, Webster Financial, PNC Financial, T Bank, US Bancorp, Citizens, PNC, Valley Bank, Signature Bank, First Republic Bank, Federal Reserve, Wilson Center, Federal Deposit Insurance Corporation, CNBC, Tesla, Securities and Exchange Commission, United Nations, Potsdam, Climate, CNN, Stanford University Locations: New York, Delaware, ” Delaware
JetBlue Airways — Shares jumped 4.1% after JPMorgan upgraded the airline to neutral from underperform, saying it likes its turnaround potential. Barnes Group — The global industrial tech and aerospace stock jumped 9.3% after DA Davidson upgraded the company to buy from neutral, saying shares are attractive. Blackstone — The asset manager slipped 2.3% after lowering its dividend to 83 cents per share from 94 cents per share. Horton exceeded expectations in its fiscal second quarter, posting earnings of $3.52 per share on revenue of $9.11 billion. Elevance Health — Shares jumped 3.2% after the health insurance company posted an earnings beat and raised its full-year guidance.
Persons: Estee Lauder, Tesla, Emmanuel Rosner, Rosner, Davidson, Blackstone, Horton —, Horton, LSEG, Morgan Stanley, Donald Trump's, , Samantha Subin, Brian Evans, Hakyung Kim, Lisa Kailai Han Organizations: JPMorgan, Taiwan Semiconductor Manufacturing, JetBlue Airways —, Iris Energy, Deutsche Bank, Google, Meta, Reuters, Group, Alaska Air Group, Revenue, BJ's Wholesale, eBay, — Rosenblatt Securities, Trump Media & Technology, Truth Social Locations: Taiwan, Alaska
Analysts have lowered their expectations on several global stocks this week by cutting their price targets. The list of stocks includes auto stocks Tesla , Rivian and Aptiv , pharmaceutical firms Biogen and Novartis , energy companies EQT Corp and TotalEnergies , airline Deutsche Lufthansa and aerospace firm Boeing , and fast food giant McDonald's . The price target changes come ahead of the next earnings season covering the first quarter of this year. CNBC Pro screened for global stocks in the MSCI World index that have received price target downgrades over the past seven days and are yet to report earnings. Tesla Wall Street analysts from 15 firms downgraded their 12-month price targets for Tesla over the past week.
Persons: Elon Musk, Tesla's, Tesla, Stifel Nicholas, Johannes Braun, Marc Zeck, Samantha Subin, Michael Bloom Organizations: Novartis, EQT Corp, Deutsche Lufthansa, Boeing, CNBC Pro, Barclays, Lufthansa Locations: Stifel
Donald Trump complained Wednesday that his lawyers were not given "unlimited" chances to reject prospective jurors at his New York criminal hush money trial. Trump suggested that New York City, which leans heavily Democratic, is only better than Washington, D.C. Trump also faces criminal election interference charges in federal court in Washington. Trials for Class E felonies, which include the charges of falsifying business records that Trump faces, get the fewest number of challenges. Trump's complaint on Truth Social demonstrates "his willful ignorance of the law," said Jeremy Saland, another New York criminal defense attorney. Trump's lawyers and prosecutors can make an unlimited number of requests to Judge Juan Merchan to strike a potential juror for cause.
Persons: Donald Trump, Trump, Samantha Chorny, Jeremy Saland, Saland, doesn't, Juan Merchan, Merchan Organizations: U.S, Manhattan Criminal, New, D.C, Trump, CNBC Locations: New York City, York, Washington, Manhattan, New York
Read previewFour months into 2024, Sarah J. Maas is having quite the year. Circana, which tracks book sales, also reported that it's currently the bestselling novel of 2024. Weiss Eubanks/NBCUniversal via Getty ImagesForbes reported on Wednesday that Maas has sold 3.1 million copies of her books in 2024, making her the bestselling author of the year so far. Likewise, Forbes reported that Circana data shows nine of the 10 bestselling books sold in March fell into either the romance or fantasy genres. Publisher's Weekly reported sales of Maas' books increased 86% in the 2022 fiscal year — the same period TikTok experienced massive growth.
Persons: , Sarah J, Maas, it's, Weiss Eubanks, Getty Images Forbes, Circana, Rebecca Yarros, Yarros, Carissa Broadbent, Jennifer L, Forbes, Bloomsbury TikTok Organizations: Service, Business, The New York Times, Publisher's, Bloomsbury, Getty Images, Wings, New York Times Locations: Tor
First-quarter earnings season is just getting started, but investors may want to keep a close eye on a group of stocks at risk of a profit "blowup," according to Wolfe Research. The basket includes stocks that show up most often in the firm's short screens and filters companies based on earnings quality with 0 the worst and 100 the best. Tesla scores a 2 on Wolfe Research's earnings quality scale, showing up six times on the firm's short screens. Wolfe Research named Pinterest as another short idea, saying it was on four of the firm's short screens. Both stocks appear on four of the firm's short screens and have earnings quality scores in the 20s.
Persons: Morgan Stanley, Wolfe, Tesla, J.M Smucker Organizations: Wolfe Research, Bank of America, Elon, Rivian Automotive, Walgreens Boots Alliance, Juniper Networks, L3Harris Technologies Locations: China, Irvine , California
Quarterly revenue came in at $12.54 billion, topping an LSEG estimate of $12.45 billion. Travelers said it generated $4.69 in earnings per share on $10.18 billion in revenue. Interactive Brokers — Shares popped 3% after Interactive Brokers posted quarterly results that came in slightly ahead of Wall Street's expectations. J.B. Hunt posted earnings of $1.22 per share on $2.94 billion in revenue. Alcoa is set to report earnings after the bell.
Persons: LSEG, Eli Lilly, ASML, Hunt, Kate Spade, Abbott, Joe Biden's, Jefferies, , Jesse Pound, Hakyung Kim, Pia Singh, Michelle Fox, Alex Harring, Sarah Min Organizations: United Airlines —, Travelers Companies, Travelers, U.S, Interactive, Hunt Transport Services, The New York Times, Federal Trade Commission, Versace, Capri Holdings, Autodesk —, Autodesk, Bancorp — U.S, Bancorp, Abbott Laboratories, FactSet, Alcoa Locations: China
Pressure is mounting on Elon Musk to turn the wheel of his embattled electric vehicle company when it reports first-quarter earnings, according to Barclays. The comments from Barclays come amid a rocky start to 2024 for the largest U.S. electric vehicle maker. Levy expects Austin, Texas-based Tesla to miss Wall Street expectations and report gross profit margins below consensus estimates in reporting results next week. "While investors will enter the call with significant questions on Tesla's strategy, we believe many of these questions may be unanswered," Levy wrote. "And with significant uncertainty remaining on the investment thesis, it could lead investors to capitulate."
Persons: Elon Musk, Tesla's, Tesla, Dan Levy, Levy Organizations: Elon, Barclays, U.S, Tesla Locations: China, Austin , Texas
However, they say immediate actions to reduce climate change could stem some losses in the longer term. Noah Diffenbaugh, a professor and environmental researcher at Stanford University, said the economic damage from climate change will take different shapes. Researchers estimated it would cost the global economy $6 trillion by 2050 to comply with the Paris Climate Agreement—the international agreement among nearly 200 nations to tackle climate change—compared to the study’s estimated $38 trillion economic damage due to climate change. “That’s what’s likely to happen from the global warming that’s already occurred and what’s likely to happen even for small increments of global warming.”The Nature study estimated the economic damage of different regions. The ICF paper said price hikes on essential elements of the cost of living in the US will add up due to climate change.
Persons: , Maximilian Kotz, Leonie Wenz, Noah Diffenbaugh, It’s, Wenz, Bernardo Bastien, Bastien, ” Bastien, , , “ That’s, what’s, won’t Organizations: CNN, United Nations, Potsdam, Climate, Stanford University, Scripps Institute of Oceanography, University of California Locations: Nature, Paris, University of California San Diego, California, North America, Europe, South Asia, Africa, United States
CNN —Apple has fixed a bug that suggested the Palestinian flag emoji when some users searched for the word “Jerusalem” in the emoji keyboard. Apple’s previous update was introduced on March 21, but the recent discovery of the bug upset some users on social media. It’s possible, however, Apple’s machine-learning technology determined the suggested emoji based on analyzing texts from millions of its users. In 2017, the US administration of President Donald Trump recognized Jerusalem as Israel’s capital, reversing decades of American foreign policy. So suggesting a Palestinian flag emoji for the search query “Jerusalem,” particularly when Israel is at war with Hamas, added tensions amid a long-running dispute.
Persons: Apple, Donald Trump, Organizations: CNN, Apple, East Locations: Israel, East Jerusalem, Jerusalem
Morgan Stanley — Shares added 3.2% after Morgan Stanley topped first-quarter expectations on wealth management, trading and advisory results. The company reported earnings of $2.02 a share, while analysts polled by LSEG had called for $1.66 a share. Revenue came out at $15.14 billion for the period, surpassing analysts expectations of $14.41 billion. Johnson & Johnson — The stock fell slightly even after the pharmaceutical giant topped quarterly earnings expectations and benefitted from a jump in medical device sales. Revenue came in at $21.38 billion, roughly in line with the $21.4 billion expected by analysts polled by LSEG.
Persons: UnitedHealth, Morgan Stanley —, Morgan Stanley, LSEG, Johnson, Smith, Tesla, Elon Musk, , Samantha Subin, Tanaya Macheel, Michelle Fox Theobald Organizations: Revenue, Wall Street Journal, Justice Department, Ticketmaster, LSEG, Bank of America, Tesla Locations: The, LSEG
Swimsuits for All has been around since 2005 and continues to push the boundaries of style and size in the women's swimwear space. The brand makes stylish, size-inclusive women's swimwear in sizes 4 through 40. Among its many original styles, it has also launched special collections with plus-size body positivity advocates like model Ashley Graham and fashion blogger GabiFresh. We tried a piece from each of these two collaborations, in addition to one of the brand's original styles. For more of our swimsuit coverage, see our pieces on the best swimsuits for women and the best swimsuits for large busts.
Persons: Ashley Graham, GabiFresh Organizations: Business
Meghan Markle's style has changed a lot since she's been in the public eye. Meghan shifted her style again after stepping back from the royal family, wearing more casual and bold looks. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. And as her role in the public sphere has changed, so has the Duchess of Sussex's style. From daring looks on red carpets to more conservative ensembles for royal life, Meghan's style has evolved as her life has.
Persons: Meghan Markle's, she's, Prince Harry, Meghan, , Meghan Markle, Duchess Organizations: Service
Read previewEvy Rivera and Jacob Evans were looking to put down roots when they found their dream fixer-upper. AdvertisementAfter watching the series, Rivera and Evans fell in love with the idea of renovating a dated property while maintaining its integrity. "We had seen quite a few Victorian homes already in other parts of New York," Rivera said. Evy Rivera and Jacob Evans bought a Victorian home from the 1800s. Evy Rivera and Jacob Evans"It's not a glamorous life at all," Rivera said of restoring their home.
Persons: , Evy Rivera, Jacob Evans, Rivera, Evans, Jacobs, Dwight Reynolds, It's, They've, They're, it's Organizations: Service, Business, HGTV Locations: Denver, Florida, Instagram, New York, Pennsylvania, Earlville , New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPatient Capital's Samantha McLemore names this energy company as a buy for its significant upsideSamantha McLemore, Patient Capital founder and ClO, joins 'Closing Bell' to discuss whether she believes the market needs a rate cut and her investment plays.
Persons: Samantha McLemore Organizations: Patient Capital
Celebrity attendees and performers donned daring ensembles for the festivities. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe 2024 Coachella Valley Music and Arts Festival kicked off on Friday, with performances continuing throughout the weekend. As always, the festival was packed with celebrities, from performers like Doja Cat to attendees like Taylor Swift and Travis Kelce. This story is available exclusively to Business Insider subscribers.
Persons: , Taylor Swift, Travis Kelce Organizations: Service, Valley Music, Arts Festival, Billboard, Business Locations: Coachella, Indio , California
iPhone sales are plunging. Here’s why
  + stars: | 2024-04-15 | by ( Samantha Murphy Kelly | ) edition.cnn.com   time to read: +3 min
CNN —Apple’s smartphone sales tumbled 10% last quarter, according to market research firm IDC, as sales in China fell sharply. Apple took the crown last year – but only for one quarter, as Samsung took the spot back. Samsung occupied about 20.8% of market share (or 60.1 million shipments) during the quarter, followed by Apple with 17.3% (50.1 million shipments). China remains an important market for Apple as it is the largest market behind the US. “As the overall smartphone market recovers this year, with a strong focus on AI, Samsung is in good position to grow further this year,” she added.
Persons: , , Nabila Popal, “ It’s, ” Popal, Xiaomi, Loren Elliott, Huawei’s, Popal, “ We’re Organizations: CNN, IDC, Apple, Samsung, Android, Galaxy, Huawei Locations: China, San Jose , California, U.S, China . China, United States
To millions, it appeared to be the reality for Princess Diana, Kate Middleton, and Meghan Markle. By making the fairy tale feel real, the royal family appears far more accessible — and the British tabloids are more than happy to help. David Levenson/Getty ImagesMeghan and Harry's royal tour of Australia 35 years later stirred up those same bitter feelings among the royal family, the prince recalled in "Harry & Meghan." Princess Diana. More often than not, the princesses marrying into the royal family earn the public's loyalty and love, not those born into the monarchy.
Persons: Princess Diana, Kate Middleton, Meghan Markle, Diana, Kate, Meghan —, , Prince Charles, Tim Graham, Prince William, Chris Jackson, Harry, Karwai Tang, Kristen Meinzer, Kate —, William —, Meghan, Prince Harry, she's, Charles, William, Sir John Major, Maria Tatar, They're, it's, hasn't, Prince George, ANDREW COWIE, Omid Scobie, Pippa Middleton, Niki Nikolova, Meghan's upbringings, Pippa, Meinzer, Tatar, Duchess of Sussex, Duke of Sussex, Duke, Duchess, Sussex, Camilla, Catherine, William's, Kate wasn't, Martin Bashir, Diana Princess of Wales, Benny Ong, David Levenson, Getty, I've, Oprah Winfrey, Joe Pugliese, Harpo, Snow White, Edwin Hayward, Andrew Morton, Robert Hardman, Tim Graham Photo, Piers Morgan, Morgan, Max Mumby, they'd, It's Organizations: Getty, British, Mail, Kanye, Netflix, UNITED, Joff, BBC, Royal Tour of Australia, Tim Graham Photo Library, BBC Studios Locations: British, UNITED KINGDOM, Peacehaven , Sussex, Peacehaven, United Kingdom, Windsor, The, Australia, Alice Springs
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