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WASHINGTON—The U.S. shot down a suspected Chinese surveillance balloon over the Atlantic Ocean, days after it was spotted crossing the U.S. and adding to already high tensions between Washington and Beijing. An Air Force F-22 Raptor jet fighter on Saturday downed the balloon with a single AIM-9X Sidewinder missile off the coast of South Carolina at 2:39 p.m. ET within U.S. territorial waters, officials said. The jet fighter was flying at 58,000 feet, below the balloon, which had been flying as high as 65,000 feet.
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Albemarle is a "lithium pure play," with strong earnings power to match, according to Piper Sandler. Piper analyst Charles Neivert began research coverage of Albemarle with an overweight rating, saying investors are underestimating the miner's earnings growth outlook. Lithium is one of five critical minerals required in electrical vehicle batteries, according to the Congressional Research Service. Nievert expects that strong lithium prices will continue to boost earnings as Albemarle expands its capacity — even if lithium pricing eases off from 2022 levels. "Despite the cooling, we still see significant increases in earnings in 2023 as 1H23 earnings comps will be substantially above year ago levels.
Morgan Stanley upgrades Gap to equal weight from underweight Morgan Stanley said it sees more "upside than downside" for the stock. Morgan Stanley downgrades Skechers to equal weight from overweight Morgan Stanley downgraded the stock on valuation. Morgan Stanley names Apple a top 2023 pick Morgan Stanley said Apple is a "rare best-of-both worlds outperformer." Morgan Stanley names Amazon a top 2023 pick Morgan Stanley said Amazon is operating from a "leading e-commerce profit generating position." Morgan Stanley downgrades IBM to equal weight from overweight Morgan Stanley downgraded IBM and said "late cycle outperformance [has] runs its course."
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In November, F-15EX fighter jets fired missiles from their new weapon stations for the first time. The new outer wing weapon stations increase the F-15EX's payload over that of its predecessor. This Operational Flight Program Combined Test Force mission was the first Air Force test flight to validate the weapons could be fired effectively and safely from those stations. Now, the new pylons are equipped with two LAU-128 missile rails each, adding four missile stations to the payload. An F-15EX takes flight for the first time out of Eglin Air Force Base in April 2021.
Bank of America downgrades Coinbase to underperform from neutral Bank of America said it sees too many headwinds for the crypto exchange. Goldman Sachs downgrades Jefferies to neutral from buy Goldman said it sees a "backlog decline" for the investment bank company. Bank of America upgrades Toll Brothers and Pulte Group to buy from neutral Bank of America upgraded several homebuilders, citing compelling valuations. "We upgrade PulteGroup to Buy (from Neutral), Toll Brothers to Buy (from Neutral), and Lennar to Neutral (from Underperform). Bank of America upgrades Dow to neutral from underperform Bank of America said it's taking a more "offensive" approach to the stock.
Here are Monday's biggest calls on Wall Street: Bernstein reiterates Apple as market perform Bernstein said it's concerned about disappointing iPhone revenues for Apple. Guggenheim upgrades AutoZone to buy from neutral Guggenheim said it sees "operational improvement" for the auto parts retailer. KeyBanc upgrades Visa and Mastercard to overweight from sector weight KeyBanc upgraded several credit card stocks on Monday and said it sees "growth durability." "Bank stocks face another year of uncertainty with revenue forecasts challenged, provisions for credit on the rise, and capital return mostly sidelined ahead of a recession." Bank of America names Ferrari a top 2023 pick Bank of America said the luxury car company has pricing power.
The newest Air Force fighter jet recently conducted a successful missile test. The test was a big step for the F-15EX Eagle II, a new aircraft slated to replace aging F-15s. As Defense News reported, the F-15EX Eagle II will also carry more missiles than the other fighter jets in the Air Force's inventory. The advanced F-15EX Eagle II is a two-seater aircraft capable of carrying up to 30,000 pounds of missiles and munitions. Following the recent test, the Air Force said that after testing wraps up, operational units will receive F-15EX fighters able to carry a full load of 12 missiles.
Regarding the cloud, AMZN's Web Services business is the market leader in cloud infrastructure services. Moreover, the scale of AMZN's web services business provides many cost advantages as very few companies can compete with AMZN's investment spend and first-mover advantage. Over the long term, we would expect MDLZ to generate double-digit total returns, consisting of high-single digit EPS growth and the 2.3% dividend. There is a long runway remaining for cloud growth as companies slowly deal with legacy investments that still drive value but are not cloud-based. Management remains committed to its goal of high single-digit EPS growth in 2023, followed by sustained double-digit growth in 2024 and beyond.
That means the Raptor will be need some upgrades in order to maintain its aerial advantage. Among them were new stealthy underwing fuel tanks and associated pylons, missiles, and what could be new electronic warfare or infrared search-and-track (IRST) pods. Today, the Raptor has 600-gallon fuel tanks it can carry underwing, but these tanks reduce its observability to a degree. The new fuel tanks intended for the F-22 are meant to offset some of that reduction. An F-22 Raptor over McEntire Joint National Guard Base in November 2017.
JPMorgan is still bullish on shares of Amazon but sees it rising less than previously expected in 2023. The firm slashed its 12-month price target to $130 from $145 in a Dec. 16 note. The new price target implies more than 46% upside to where shares currently trade. Lower estimates JPMorgan now sees fourth quarter net sales of $143.4 billion and operating income of $2.0 billion, a 1.4% margin. The firm's total 2023 revenue estimate is down about 2% to $563 billion, including 17% AWS revenue growth on the year.
Whatever you might think of Twitter, it's hard to watch Elon Musk clumsily flay it alive to "save it." Having observed Musk in action for years there is one troubling option I suspect he may pursue: raid Tesla. But siphoning cash from Tesla, Musk's only profitable company, just as serious competition is toppling its dominance, should concern Tesla's investors. And given his obsession with Twitter, they may well ask: How far will Elon go to save Twitter at Tesla's expense? Tesla's stock is down more than 50% this year — evaporating nearly $700 billion in market-cap value since its peak in late 2021.
Whatever you might think of Twitter, it's hard to watch Elon Musk clumsily flay it alive to "save it." But siphoning cash from Tesla, Musk's only profitable company, just as serious competition is toppling its dominance, should concern Tesla's investors. And given his obsession with Twitter, they may well ask: How far will Elon go to save Twitter at Tesla's expense? How Musk could use Tesla to try and save TwitterMusk cobbled together his Twitter funding primarily by selling off a major chunk of his stock in Tesla and taking out huge loans. Saving Twitter won't kill Tesla anytime soon, and Twitter might not survive unless it does, but Musk is draining Tesla's capacity to weather what could be its toughest challenges ahead.
Shares of Walgreens Boots Alliance offer an attractive risk-reward to investors as the company transforms into a health care services-focused business, according to Cowen. Instead, he views massive growth opportunities for the company as it ramps up investments in health care services. "We view the risk/reward as very attractive, and believe investors should take the risk, given near-term support from 4.8% dividend yield." He expects additional upside from Walgreens' latest health care investments and offerings, including its acquisition of CareCentrix and the addition of Summit Health following its merger with VillageMD . Walgreens' current valuation also takes into account the macro risks concerning some investors and weighing on analysts' targets, he added.
Shares of plastic packaging firm Berry Global Group are attractive and can rally more than 30% from here, according to Goldman Sachs. Analyst Adam Samuelson raised his price target on Berry Global Group, while maintaining a buy rating on the stock, saying shares continue to remain attractive on the strength of the company's free cash flow profile even after a mixed earnings report . Berry Global Group on Tuesday beat profit expectations with fiscal fourth-quarter earnings of $2.19 per share, compared to consensus expectations of $2.15 per share, according to FactSet estimates. The company announced that its board has approved the payment of a 25 cents per share quarterly dividend. The analyst's $71 price target, raised from $68, is 34% above where shares closed on Tuesday.
Here are some of the air-defense systems that countries are sending Ukraine to take on that threat. The US, Britain, and several other countries are sending Ukraine a variety of air-defense systems. Here are some that are being supplied to Ukraine:NASAMSThe National Advanced Surface-to-Air Missile System. Norwegian Ministry of DefenseParticularly significant is that rather than custom-designed surface-to-air missiles, NASAMS fires existing air-to-air missiles that are modified to be launched from the ground. Shan Yuqi/Xinhua via Getty ImagesUkraine has already received the first of four German IRIS-T short-range anti-aircraft missile systems.
Lyft 's latest earnings report underscores why Uber is the stock to own in the ongoing battle between the two ridesharing companies, according to Evercore ISI. To be sure, Lyft saw one of its strongest periods of active driver growth over the last year, Mahaney noted. That said, Lyft did lose some market share to Uber as the company rolled out temporary driver incentives. Looking ahead, Mahaney called Lyft's fourth-quarter outlook "soft," noting that he expects slower year-over-year revenue growth. Lyft shares have tumbled roughly 67% this year.
Vincent Deluard says investors face three main risks: inflation, recession, and rising rates. "I call it the Holy Trinity Portfolio, which for the year is up 5%. To combat rising interest rates, Deluard likes financials. Second, to hedge against recession risks, Deluard likes healthcare because of its defensive nature. Finally, Deluard likes the energy sector as a hedge against inflation risk.
It's time to buy shares of Qualcomm as they can soar more than 50% from here, according to HSBC. Analyst Frank Lee initiated coverage of Qualcomm with a buy rating, saying it's among the best positioned semiconductor companies to deal with slowing chip demand for smartphones. "Qualcomm is best known for making chips used in smartphones, a market that is now slowing," Lee wrote in a Monday note. Qualcomm is among the U.S. companies with "limited exposure" to those restrictions, the analyst said. The analyst set a $180 price target on Qualcomm, which is roughly 55.5% upside from Friday's close at $115.74 per share.
Raymond James lowers price target on Club holding Procter & Gamble (PG) to $155 per share from $175; keeps outperform (buy) rating). Stanley Black & Decker (SWK) downgraded to equal weight from overweight (hold from buy) at Morgan Stanley. Piper Sandler cuts Yeti (YETI) price target to $48 per share from $76 but keeps overweight (buy) rating. Deutsche Bank lowers price targets on all asset gatherers: BlackRock (BLK), Blackstone (BX) and KKR (KKR). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
HUALIEN, Taiwan, Aug 17 (Reuters) - Taiwanese F-16 fighters roared into the night sky on Wednesday in a show of force in front of the media, demonstrating the military's determination to defend the democratically governed island in the face of days of Chinese war games. "The Republic of China's forces are confident, capable, and determined to defend the safety of the Republic of China," Sun added, using Taiwan's formal name. While Taiwanese fighters, including Hualien's F-16s, have been repeatedly scrambling since early this month, the ministry has stressed Taiwan's "calm" response and there have been no clashes. The Hualien base, which has hangers cut out of the side of a mountain, has two pilots on duty at any one time sitting in their flight suits and able to be in the air within six minutes. The fighters on display were the Lockheed Martin Corp (LMT.N) F-16V, Taiwan's most up-to-date combat jet.
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