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☆ Two top market watchers discuss tech's wild run so far this year
▼ + stars: | 2023-02-06 | 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 EmailTwo top market watchers discuss tech's wild run so far this yearEvercore ISI's Head of Internet Research Mark Mahaney and Big Technology Founder Alex Kantrowitz discuss the tech rally in 2023.

☆ Evercore ISI says look for these value names with momentum to outperform as inflation falls
▼ + stars: | 2023-02-06 | by ( Patti Domm | In | ) www.cnbc.com time to read: +3 min

He screened the Russell 1000 for "valmentum" stocks that he expects will outperform and have characteristics of both growth and value. Stocks on the list have a high level of short interest, as well as good growth momentum and strong free cash flow yield, which is a value trait. It's a stock picker's market," said Emanuel, who heads Evercore ISI equity, derivatives and quantitative strategy. Airbnb has an estimated free cash flow yield of 5% and expected earnings growth this year of more than 9%. Booking's free cash flow is expected to be 5.4% this year, and its earnings are expected to grow 26.4%.

☆ Pervez Musharraf, Pakistan martial ruler in 9/11 wars, dies
▼ + stars: | 2023-02-05 | by ( ) www.cnbc.com time to read: +12 min

Pakistan's former military ruler Pervez Musharraf has died in Dubai aged 79 after a long illness, the army said on February 5, 2023. By Sept. 12, then-U.S. Secretary of State Colin Powell told Musharraf that Pakistan would either be "with us or against us." They regrouped and the offshoot Pakistani Taliban emerged, beginning a yearslong insurgency in the mountainous border region between Afghanistan and Pakistan. Though Pakistan under Musharraf launched these operations, the militants still thrived as billions of American dollars flowed into the nation. Born Aug. 11, 1943, in New Delhi, India, Musharraf was the middle son of a diplomat.

☆ Did investors learn nothing from last year’s market meltdown?
▼ + stars: | 2023-02-05 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

Shares of movie theater chain AMC (AMC) have soared nearly 65% so far in 2023, and AMC (AMC)’s companion preferred stock (which trades under the ticker APE as a nod to the nickname AMC (AMC) fans have given themselves on social media) has more than doubled. So did investors learn nothing from last year’s market meltdown? I don’t agree with this market rally in meme stocks,” said Erik Ristuben, chief investment strategist with Russell Investments. Another strategist agrees this recent rally for meme stocks and other speculative bets may not end well. If they’re upbeat about spending, that could keep the rally in consumer stocks going.

☆ Analysts overlook Alphabet's disappointing quarter, cite confidence in AI push as ChatGPT threat grows
▼ + stars: | 2023-02-03 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Analysts are willing to overlook Alphabet' s disappointing quarter in lieu of its artificial intelligence push and focus on costs. Shares of the search giant fell more than 4% after the company missed Wall Street's expectations for the fourth quarter. But, analysts lauded the company's focus on artificial intelligence as it faces mounting pressures from popularized Microsoft-backed chatbot ChatGPT . Alphabet CEO Sundar Pichai said the company plans to release its LaMDA language model with search components "very soon." GOOGL 1D mountain GOOGL falls after earnings Analysts also cited some confidence in the company's push to reengineer its cost structure and reduce inefficiencies.

☆ Analysts say buy Amazon for the long term, despite recession concerns and slowing AWS growth
▼ + stars: | 2023-02-03 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

But even with these near-term headwinds, analysts remain confident in the long-term thesis for the e-commerce giant and its growth trajectory. The results from Amazon come on the heels of a difficult 2022 that saw the e-commerce bellwether shed roughly half its value and post its slowest year of growth . At the same time, revenue for its Amazon Web Services division fell short of Wall Street's estimates and showed slowing sales growth as business spending dwindles. Moderating growth within the company's cloud unit marked one of the biggest concerns for analysts, but nowhere near a shock. Revenue growth came in at 20% for the quarter, and below the already slow 27.5% growth rate the company experienced in third quarter.

☆ Analysts stand by Apple, say iPhone maker's 'flywheel keeps spinning' despite disappointing earnings
▼ + stars: | 2023-02-03 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Analysts aren't giving up on Apple despite the tech giant's near-term headwinds. Sales for the holiday-quarter were also 5% lower over last year, representing the company's first year-over-year decline since 2019. "Despite near-term macro and supply headwinds, the Apple flywheel keeps spinning," said Morgan Stanley's Erik Woodring, who retained his price target and overweight rating. AAPL 5D mountain Apple falls after disappointing earnings But Apple isn't out of the macro woods just yet, according to some analysts. "On the other, numbers are being reset, and investors may begin to look forward to a better 2024, akin to 2019, when Apple last saw revenues decline."

☆ Expect more revenue growth in Meta, says Evercore's Mark Mahaney
▼ + stars: | 2023-02-02 | 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 EmailExpect more revenue growth in Meta, says Evercore's Mark MahaneyMark Mahaney, head of internet research at Evercore ISI, joins 'Closing Bell' to discuss Meta's earnings and shares jump.

☆ Analysts laud Meta Platforms' focus on efficiency, say the stock is transitioning from 'doghouse to pedestal'
▼ + stars: | 2023-02-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Meta Platforms is turning its focus toward efficiency, and analysts seem to like the narrative shift from the battered technology giant. "Our management theme for 2023 is the 'Year of Efficiency' and we're focused on becoming a stronger and more nimble organization." META YTD mountain Meta Platforms shares have already surged 27% this year Analysts also seemed to praise the company's move to lower its outlook for capital expenditures and operating expenses. The word "efficiency" came up over 25 times on the company's earnings call, according to Morgan Stanley's Brian Nowak. The analyst has an outperform rating on Meta and hiked his price target to $275, which implies upside of nearly 80%.

☆ Meta shares rocket 25%, on pace for the best day in a decade
▼ + stars: | 2023-02-02 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

Meta shares jumped 25% Thursday morning, on pace for the best day in nearly a decade, with a slew of analyst upgrades coming off the back of a fourth-quarter revenue beat and optimistic prognostications from CEO Mark Zuckerberg. Meta shares sit at their highest point since September 2022, weeks before a disastrous third-quarter earnings report that prompted analysts across Wall Street to openly question Zuckerberg's leadership. posited Evercore ISI analyst Mark Mahaney. He cited "materially reduced expense projections" and a larger-than-anticipated share buyback, upping his price target to $275 and reiterating an outperform rating. At Guggenheim, Michael Morris revised his price target to $210, maintaining a buy rating, citing in part lowered costs and a belief in management messaging on "momentum."

The world's biggest public company is expected to report on Thursday that iPhone sales fell about 5% for the all-important holiday quarter, according to Refinitiv. The last time iPhone sales slipped was in the August-October period in 2020, months into the COVID-19 pandemic. Greater China, including Hong Kong, is key to Apple's fortunes, contributing roughly a fifth to annual revenue. FUNDAMENTALS** Revenue estimated to have fallen 2% in the last three months of 2022, Apple's first fiscal quarter. ** IPhone sales likely fell for first time since 2020, while services business rose 6%.

Snap said its direct response business geared towards driving product sales or website visits rose 4% in October-December. That could "be viewed as a healthy sign for Meta and Google," whose businesses are tuned to direct response advertisers, said Mark Shmulik, senior analyst at research firm Bernstein. Similarly, Meta has said in previous quarters that the bulk of its revenue comes from direct response advertising. Headwinds for Meta and Google could be notably less severe, he added. The weak outlook pulled down the shares of rivals Meta, Google, and Pinterest (PINS.N), which also earns revenue by selling digital advertising, on Tuesday.

☆ Here are Monday's biggest analyst calls: Tesla, Apple, Netflix, Amazon, Chevron, Meta, Shopify & more
▼ + stars: | 2023-01-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Morgan Stanley upgrades Colgate-Palmolive to overweight from equal weight Morgan Stanley said in its upgrade of Colgate that it sees an attractive entry point. "We upgrade shares from Neutral to Buy as we see the last of tough comparables for SHOP subsiding entering '23." Bank of America reiterates Meta as neutral Bank of America says it's cautious heading into Meta earnings on Wednesday. Berenberg upgrades Tesla to buy from hold Berenberg said in its upgrade of Tesla that "factory innovations support long-term margins." Morgan Stanley reiterates Southwest Airlines as overweight Morgan Stanley says it's sticking with shares of the airline.

☆ EVERCORE: Buy these 20 oversold value stocks that are due for a turnaround that will see them outperform in 2023 and beyond
▼ + stars: | 2023-01-27 | by ( Marley Jay | ) www.businessinsider.com time to read: +2 min

Evercore ISI says healthcare, staples, and energy stocks are set up for outperformance in 2023. Strategist Julian Emanuel says investors should make sure they're allocated to value stocks. Emanuel said one way investors can maximize their chances of success is to buy "misperceived" value stocks that have underperformed recently even though analysts' earnings forecasts for those companies are rising. He recommended concentrating on energy, healthcare, and consumer staples companies, as oil supply tensions and the resurgence of China's economy should boost energy prices, while healthcare and staples stocks do well in stagflationary or recessionary periods. The following 20 stocks are ranked based on their performance relative to the S&P 500 from those October 13 lows through January 13.

☆ How the dollar's sharp reversal could be an unexpected positive for these companies
▼ + stars: | 2023-01-25 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

But with the dollar's stunning reversal since then, some companies should conversely start to catch a currency break and potentially see upside surprises. In the fourth quarter, because of the sophisticated hedging strategies from companies, they may not get the full benefit of the dollar's decline. Johnson & Johnson, for instance, said fourth quarter sales fell, in part because of the negative impact from currency translation. 3M said fourth quarter sales were 5% lower than they would have been were it not for the stronger dollar. Sacconaghi said the market has typically rewarded tech companies' "currency beats."

☆ The DOJ lawsuit will be a lag on Google stock for years, says Evercore's Mark Mahaney
▼ + stars: | 2023-01-24 | 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 EmailThe DOJ lawsuit will be a lag on Google stock for years, says Evercore's Mark MahaneyMark Mahaney, Evercore ISI head of internet research, joins 'Closing Bell' to discuss the DOJ's lawsuit against Google.

☆ EVERCORE: Buy these 12 oversold growth stocks to take advantage of China's rapid reopening
▼ + stars: | 2023-01-24 | by ( Marley Jay | ) www.businessinsider.com time to read: +2 min

Investors are turning positive on Chinese stocks after several years of weak performance. China is lifting its 'zero COVID' measures, which could boost its economy and stock market. Julian Emanuel of Evercore ISI says these 12 stocks should outperform as that happens. "A reopening could help unleash 5.4T Yuan ($760B, 4% of GDP) of excess household savings on discretionary re-opening led consumption." The stocks that have suffered larger losses could have more upside as China's economy and its markets recover.

☆ Here are Friday's biggest analyst calls: Netflix, Tesla, Apple, Coinbase, Tesla, Ralph Lauren & more
▼ + stars: | 2023-01-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are Friday's biggest calls on Wall Street: Mizuho reiterates Amazon as buy Mizuho said it's standing by its buy rating on the e-commerce giant. Barclays upgrades Ralph Lauren to overweight from equal weight Barclays said Ralph Lauren is a "best-in-class" apparel brand. JPMorgan upgrades Regeneron to overweight from equal weight JPMorgan said it sees several positive catalysts ahead for the biotech company in 2023. JPMorgan reiterates Netflix as overweight JPMorgan said it sees growth potential after the company's strong earnings report on Thursday after the bell. JPMorgan reiterates Coinbase as neutral JPMorgan said Coinbase is a beneficiary of other company's challenges from the FTX fallout.

☆ Here's what analysts think about Netflix's CEO change
▼ + stars: | 2023-01-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Reed Hastings' departure as co-CEO does little to change how analysts view Netflix , or the company's ability to accomplish its long-term strategies, analysts say. The streaming giant announced Thursday that founder Reed Hastings would give up his role after more than two decades and serve as executive chairman. The move came along with quarterly results that fell short of earnings estimates but showed subscriber numbers that far surpassed expectations . "The company's focus, in our view, has always been an underappreciated differentiator and we expect that focus to remain under new leadership." Despite the title change and a step back from day-to-day operations, analysts anticipate that Hastings will continue to be involved in longer-term decision-making.

☆ Markets: Bad news for the economy is now bad news on Wall Street
▼ + stars: | 2023-01-19 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

New York CNN —The market is bracing for a perfect storm of bad news. Kelly added that “a failure to increase the debt ceiling is the most immediate fiscal threat to the economy and markets in 2023” and that a deal is needed sooner rather than later in order to reassure the markets. There’s a saying on Wall Street that bad news for the economy is actually good news for the stock market and vice versa. Bad news actually might be bad news. “What just some weeks ago would have seen markets cheering the weaker data…is now being judged more harshly with bad news no longer enjoying a warm welcome,” she added.

☆ Stocks making the biggest moves before the bell: Roblox, Discover, Chegg and more
▼ + stars: | 2023-01-19 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Roblox — Roblox shares fell 6.7% after Morgan Stanley downgraded the gaming company to underweight from equal weight and said the upside is limited following the stock's recent outperformance. Philip Morris — Shares of the tobacco company rose more than 1% after Jefferies upgraded the stock to buy from hold and raised its price target. Apple — Shares slid 1.2% after JPMorgan cut its price target on Apple and said the technology company had a tough setup going into earnings from supply headwinds. Boot Barn — UBS raised its price target on the stock ahead of the company's quarterly earnings report. The stock slid 0.6% despite the target increase, however.

☆ FuboTV insiders describe how its 'doomed' sportsbook collapsed in a year — and what it means for the future of the streaming company
▼ + stars: | 2023-01-19 | by ( Colin Salao | Ashley Rodriguez | ) www.businessinsider.com time to read: +22 min

But despite the MetLife lounge remaining open throughout the 2021-22 NFL season, the Fubo Sportsbook wouldn't launch in New Jersey until the following one, in September 2022. "It was doomed from the start," one former Fubo Gaming staffer told Insider. Meanwhile, Rattner — whom the first former Fubo gaming staffer described as a "good talker" — sustained the startup's more youthful culture. The Fubo Sportsbook launched in New Jersey on September 7, days before the first Jets home game. A promotional image from when the Fubo Sportsbook went live in New Jersey in September 2022.

☆ Stocks making the biggest moves midday: Norwegian Cruise Line, Allstate, Roblox and more
▼ + stars: | 2023-01-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

A Norwegian Gateway cruise ship leaves from the Manhattan port during sunset in New York City, United States on April 10, 2022. Vornado Realty Trust — Shares of the real estate investment trust shed 3.3% after cutting its quarterly dividend to 37.5 cents per share from 53 cents. Roblox — Roblox shares shed 6% following a downgrade to an underweight rating by analysts at Morgan Stanley. Alcoa — Shares of the aluminum company fell 4.6% on Thursday after the company announced its fourth quarter results. Alcoa's adjusted fourth quarter loss was 70 cents per share, narrower than the 81 cent loss expected, according to StreetAccount.

☆ Investors are holding near-record levels of cash and may be poised to snap up stocks
▼ + stars: | 2023-01-18 | by ( Patti Domm | In | ) www.cnbc.com time to read: +2 min

But the question is this: Will those investors return any time soon, especially with sentiment still so sour and stocks at risk of a major selloff? Total net assets in money market funds rose to $4.814 trillion in the week ended Jan. 4, according to the Investment Company Institute. At the same time, money market funds are actually generating a few percentage points of income for the first time in years. Consider that sweep accounts, where investors hold unused cash balances in their brokerage accounts, can park those amounts in money market mutual funds or money market deposit accounts. To me this was people basically selling the market at the end of the year, and they just parked it in the money market funds.

☆ Netflix with ads got off to a slow start, but the streamer could still win at advertising
▼ + stars: | 2023-01-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Analysts are eagerly anticipating updates on Netflix's ads tier during its 4Q earnings call January 19. Netflix Basic with Ads has gotten off to a slow start, initially missing viewership targets. Subscriptions to the ad tier are expected to grow once the streamer cracks down on password sharing. The stock initially fell 9% on reports that Netflix was letting advertisers take money back after some ad campaigns fell far short of their viewer targets. And Netflix's Basic with Ads was the least popular tier in its first month, according to an Evercore ISI survey.

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