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☆ Earnings Exchange: SQ, WBD & CVNA
▼ + stars: | 2023-02-23 | 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 EmailEarnings Exchange: SQ, WBD & CVNAQuint Tatro, Joule Financial president, joins ‘The Exchange’ to discuss three companies reporting earnings later today: Block, Warner Bros. Disovery and Carvana.

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, Carvana, Nvidia, Netflix, Zoom, Meta & more
▼ + stars: | 2023-02-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Bank of America downgrades Constellation Energy to neutral from buy Bank of America downgraded the energy company mainly on valuation. " Raymond James reiterates Carvana as market perform Raymond James said it's cautious heading into Carvana earnings later this week. Bank of America reiterates Meta as buy Bank of America said it's bullish on the company's recently announced Meta Verified subscription service. " Bank of America reiterates Alphabet as buy Bank of America said it's standing by its buy rating despite the ChatGPT thread to Alphabet. Barclays reiterates Zoom as equal weight Barclays said expectations are low heading into Zoom earnings later this month.

☆ Warren Buffett is missing out on this year’s market comeback
▼ + stars: | 2023-02-19 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

But the Oracle of Omaha has missed out on this year’s stock market rally. Buffett, in fact, has promoted that idea to investors many times, arguing that most individual stock pickers will not be able to beat the market. And to his credit, that usually pays dividends: Berkshire stock was up 3% last year in a down market. “High rates of inflation create a tax on capital that makes much corporate investment unwise,” Buffett said in his 1980 shareholder letter to Berkshire investors. Investors will get several more clues about consumer spending this week when several top retailers report earnings.

☆ The Fed’s favorite inflation gauge will be the big market hurdle of next week
▼ + stars: | 2023-02-18 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Most important this week is Friday's core personal consumption expenditure (PCE) price index for January. In comparison, the consumer price index (CPI), released this past week, only tracks price changes over time. The market is expecting the core PCE price index to rise 0.4% monthly and 4.9% annually. In addition to the core PCE price index, we're going to be looking closely at the housing and utilities component. Lastly, the January producer price index came in hotter than expected, rising 0.7% from December versus expectations for 0.4% increase.

Bob Berg | Moment Mobile | Getty ImagesIn a fragmented media landscape, events like the Super Bowl are prized by advertisers for the exposure they offer. These commercials are an institution in and of themselves, with the ads generating conversation for weeks ahead and days after the big game. Consumers might recall well-crafted Super Bowl ads years after their debut. So does Super Bowl exposure truly help boost business? It drove so many viewers to Coinbase's app that it crashed on the night of the Super Bowl.

☆ 2022's stock losers are this year's winners so far
▼ + stars: | 2023-01-30 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

But it’s still been a solid start to the year for the market — and many of last year’s losers have led the way on Wall Street so far in January. Discovery, which plunged nearly 60% last year, has surged 55% so far in 2023 and is the best performer in the S&P 500. Rising market tide lifting questionable boatsStill, some investors are worried this year’s market rally is eerily reminiscent of prior market bubbles. GameStop (GME) is up nearly 25%. “Most investors don’t realize the Fed has to fight the inflation in the stock market, too,” Trainer added.

☆ Carvana adopts 'poison pill', sells $4 billion of auto loans
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +1 min

Companies Carvana Co FollowJan 17 (Reuters) - Carvana Co (CVNA.N) has adopted a "poison pill" to limit shareholders from raising their stakes and has reached an agreement to sell up to $4 billion of auto loans, the struggling used car retailer said on Tuesday. Carvana said the "poison pill" will help safeguard its "significant" U.S. federal net operating loss (NOLs) that could be available to offset its future taxable income. The company's ability to use the NOLs would be substantially limited if its 5%-shareholders increased their ownership, Carvana said. Companies with large NOLs often adopt poison pills to enable them to cut their tax bill. Poison pills are also adopted to ward off hostile takeovers.

☆ Fund manager names two U.S. stocks he thinks might not survive 2023
▼ + stars: | 2023-01-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Businesses that relied on "free and infinite capital" are now facing a harsh reality, according to fund manager Trent Masters, and could even go bankrupt. Carvana One company that falls into this category is online car dealer Carvana , Masters told CNBC Pro Talks . Affirm Masters also said that some buy now pay later (BNPL) companies, like consumer credit lender Affirm, were coming under strain in the current market conditions. Shares of Affirm Holdings have fallen by more than 80% over the past year to $12 a share. AFRM 1Y line Shares of credit lender Affirm have fallen by more than 80% in the past 12 month

☆ Carvana terminates more workers amid weak used car sales -WSJ
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

Jan 13 (Reuters) - Carvana Co (CVNA.N) is terminating more workers and take other measures such as reduced work hours as the used-car retailer contends with weak sales, the Wall Street Journal reported on Friday. Carvana, best known for its automated car vending machines, did not immediately respond to a Reuters' request for comment. The demand for used cars has fallen over the past year as consumers opt for alternative means to commute in an attempt to trim expenses. That slump in demand has also forced the Tempe Arizona-based company to sell many used cars at lower prices. (This story has been corrected to say company is terminating more workers, not laying off, in headline and paragraph 1)Reporting by Nathan Gomes in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ As latest short squeeze unfolds on Wall Street, here's what that means and who could be next
▼ + stars: | 2023-01-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Traders are once again piling into stocks with high levels of short interest, and several companies could prove the next targets of the latest frenzy unfolding on Wall Street. As another short squeeze unfolds now on Wall Street, CNBC Pro used FactSet data to search for the next potential candidates. Silvergate's short interest as a percent of float recently stood at nearly 61%, the highest among all the stocks included in the screen. Popular online used car retailer Carvana has 58% of shares sold short. Beyond Meat and Weber are two other potential short squeeze contenders that sold off sharply in 2022, with about 40% and 32.4% of their respective shares sold short.

☆ Used-car retailer CarMax posts plunge in profit, pauses share buyback
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +1 min

Dec 22 (Reuters) - CarMax Inc (KMX.N) on Thursday reported an 86% drop in quarterly profit and the largest U.S. used car retailer announced it was cutting expenses and pausing stock buybacks, as rising interest rates sap consumer confidence. The auto retail industry has been facing the brunt of consistent rate hikes and weakening consumer confidence. "We believe vehicle affordability challenges continued to impact our third-quarter unit sales performance, as headwinds remain due to widespread inflationary pressures, climbing interest rates, and low consumer confidence," CarMax said on Thursday. CarMax reported net income of 24 cents per share for the quarter through November, compared with expectations of 70 cents, as per Refinitiv data. Reporting by Priyamvada C and Kannaki Deka in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

That works out to a 31.2% return on total average short interest of $973.6 billion throughout the year, according to S3 Partners. Stanphyl Capital portfolio manager Mark Spiegel, who has been short Tesla "constantly, in varying size" since 2014, said a bet against Tesla was his fund's most profitable individual short position this year. While higher interest rates have punished growth stocks, some investors believe Tesla CEO Elon Musk's purchase of Twitter is diverting his time running the electric car company. Long-short hedge funds, which bet on stock prices rising or falling, posted a 9.7% loss through November, according to data provider HFR. Charles Lemonides, portfolio manager at $226 billion hedge fund ValueWorks LLC, believes tight monetary policy will weigh on risk appetite next year.

Producer prices climbed 7.4% last month on an annual basis, the Labor Department's report showed, compared with economists' expectations of a 7.2% increase. Core producer prices, which exclude volatile food and energy components, jumped 6.2% compared with estimates of a 5.9% rise. Consumer prices data for November, due Tuesday, will provide fresh clues on the central bank's monetary tightening plans. U.S. stocks had snapped a recent run of losses on Thursday after data showed initial jobless claims modestly rose last week, suggesting the labor market was deteriorating. The S&P index recorded five new 52-week highs and one new lows, while the Nasdaq recorded 24 new highs and 96 new lows.

☆ Here are Friday's biggest analyst calls: Apple, Tesla, McDonald's, Netflix, Carvana, Microsoft & more
▼ + stars: | 2022-12-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Cowen names Costco a top 2023 pick Cowen said Costco is well positioned in a deteriorating macro environment. " Cowen names Caterpillar a top 2023 pick Cowen said the company is well positioned heading into 2023. Cowen names Netflix a top 2023 pick Cowen said it sees free-cash flow ramping up for Netflix in 2023. Morgan Stanley reiterates Apple as overweight Morgan Stanley said investors should take advantage of any weakness and buy the dip in shares of Apple . Morgan Stanley reiterates Lululemon as overweight Morgan Stanley said the company's fundamentals remain strong after its earnings report on Thursday. "

☆ Carvana shares rebound almost 30%, attracts new watchers on StockTwits
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +1 min

Dec 8 (Reuters) - Shares of Carvana Co (CVNA.N) rebounded nearly 30% on Thursday, erasing some of the previous day's deep losses inflicted by worries about the used car seller's solvency. The surge came as Carvana topped a list of stocks attracting new watchers on StockTwits, a website popular with amateur traders. Carvana shares on Wednesday dropped over 40% to a new low after Bloomberg reported the company was speaking with lawyers and investment bankers about options for managing its debt load. The company has suffered from waning used-car demand and high costs, forcing it to undertake job reductions to rein in expenses this year. Its notes maturing in 2025 remained under pressure at around 42 cents on the dollar, above a low of 40 cents a month earlier but down from around 43 cents late on Wednesday.

☆ Jim Cramer's top 10 things to watch in the market Thursday: War cloud, Salesforce downgrade, GameStop quarter
▼ + stars: | 2022-12-08 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Club holding Pioneer Natural Resources (PXD) price target lower to $260 per share from $290 at KeyBanc. Citi rates Boeing (BA) a buy rating and a $222-per-share price target. Wells Fargo raises Boeing's PT to $218 from $185; keeps overweight (buy) rating. UBS increases PT on Toll Brothers to $65 from $61; keeps buy rating. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ S&P, Nasdaq extend losing streaks amid rising recession worries
▼ + stars: | 2022-12-07 | by ( David French | ) www.reuters.com time to read: +5 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 29, 2022. For the benchmark S&P 500 (.SPX), it was the fifth straight session that it has declined, while the Nasdaq (.IXIC) finished down for the fourth time in a row. The S&P 500 (.SPX) lost 7.34 points, or 0.19%, to close at 3,933.92 and the Nasdaq Composite (.IXIC) dropped 56.34 points, or 0.51%, to finish at 10,958.55. The S&P 500 is on track to snap a three-year winning streak. The S&P 500 posted seven new 52-week highs and seven new lows; the Nasdaq Composite recorded 61 new highs and 307 new lows.

The benchmark S&P 500 (.SPX) fell for the fifth straight session on Wednesday. The Nasdaq (.IXIC) was down for the fourth straight session, dragged lower by a 1.3% drop in Apple Inc (AAPL.O) on Morgan Stanley's iPhone shipment target cut and a 3.9% fall in Tesla Inc (.IXIC) over production loss worries. The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, rose to a two-week high to 23.01 points. The S&P 500 is on track to snap a three-year winning streak, down 17.4% so far in 2022. The S&P index recorded six new 52-week highs and seven new lows, while the Nasdaq recorded 36 new highs and 226 new lows.

☆ Used-car retailer Carvana slumps after Wedbush says bankruptcy risk rising
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

Brokerage Wedbush also downgraded its rating on the stock to 'underperform' from 'neutral,' sending Carvana's shares to a record low. "Many (Carvana) bonds have been trading at about 50 cents on the dollar, indicating investors see a high probability of default," said analyst Seth Basham, in a note titled 'Bankruptcy risk rising.' Carvana has suffered from waning used-car demand and high costs, forcing it to undertake job cuts to rein in expenses. As a result, its stock has fallen nearly 100% this year, hitting record lows in the process. Reporting by Priyamvada C, Medha Singh, Sruthi Shankar in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 29, 2022. "From the bigger picture, the Fed has hiked rates to a point where markets are expecting monetary policy to be restrictive enough to cause a mild recession." The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, rose to a two-week high at 23.01 points amid increased investor anxiety. Tesla Inc (TSLA.O) slumped 2.9%, down for a third straight session over production loss worries at its Shanghai plant. The S&P index recorded two new 52-week highs and six new lows, while the Nasdaq recorded 25 new highs and 149 new lows.

SummarySummary Companies Apple down, Morgan Stanley cuts Dec shipment estimateCarvana tumbles, Wedbush slashes PT to Street lowFutures down: Dow 0.25%, S&P 0.48%, Nasdaq 0.82%Dec 7 (Reuters) - U.S. stock indexes were set to open lower on Wednesday after warnings of a looming recession from major Wall Street bankers offset optimism around China relaxing its strict zero-COVID rules. Fears of a recession due to the U.S. Federal Reserve's aggressive rate hikes to curb inflation pulled the S&P 500 (.SPX) lower for a fourth straight session on Tuesday, with all major Wall Street indexes ending down 1%-2%. "From the bigger picture, the Fed has hiked rates to a point where markets are expecting monetary policy to be restrictive enough to cause a mild recession." The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, rose to a two-week high at 23.01 points amid increased investor anxiety. ET, Dow e-minis were down 85 points, or 0.25%, S&P 500 e-minis were down 19 points, or 0.48%, and Nasdaq 100 e-minis were down 94.75 points, or 0.82%.

☆ Jim Cramer's top 10 things to watch in the market Wednesday: China reopening fails to inspire
▼ + stars: | 2022-12-07 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Two out of the Club's three stocks tied closely to China — Starbucks (SBUX) and Wynn Resorts (WYNN) — are down. Barclays piles on and cuts every price target for oil companies. RBC Capital raises price target on Nike (NKE) to $120 per share from $115; keeps outperform (buy) rating. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Carvana, Expedia, Shopify, Roku & more
▼ + stars: | 2022-12-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Bank of America reiterates Warner Brothers Discovery as buy Bank of America said Warner Brothers Discovery shares are the "best value in media." Wolfe downgrades Shopify and Chewy to peer perform from outperform Wolfe downgraded Shopify and Chewy on concerns about consumer weakness in e-commerce. "We are also revising our ratings on SHOP and CHWY to Peer Perform from Outperform after the recent rally." Peer Perform previously)." JMP upgrades MongoDB to market outperform from market perform JMP upgraded the developer data platform company after its earnings report on Tuesday.

☆ Carvana shares tank as bankruptcy concerns grow for used car retailer
▼ + stars: | 2022-12-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Ernest Garcia III, CEO of Carvana, speaks to CNBC on the floor of the New York Stock Exchange, March 7, 2019. Shares of Carvana plummeted by more than 40% in Wednesday morning trading after the embattled online used car retailer's largest creditors signed a deal binding them to act together in negotiations with the company. Such creditor agreements are viewed as a way to streamline negotiations around new financing or a debt restructuring. JPMorgan said Wednesday that the creditor deal signals that Carvana "may have initiated debt restructuring negotiations with bond holders" but the "possibility of imminent Ch. Carvana's stock has plummeted by about 97% this year after reaching an all-time intraday high of $376.83 per share on Aug. 10, 2021.

☆ Stocks making the biggest moves premarket: Campbell Soup, Pinterest, Toll Brothers and others
▼ + stars: | 2022-12-07 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines before the bell:Campbell Soup (CPB) – Campbell Soup beat estimates by 14 cents with adjusted quarterly earnings of $1.02 per share. Pinterest (PINS) – Pinterest rose 1.2% in premarket trading after an official from activist investor Elliott Management was added to the image-sharing website operator's board of directors. Carvana tumbled 18.2% in premarket trading. Dave & Buster's (PLAY) – Dave & Buster's shares slid 3.9% in premarket action even though its quarterly profit matched analyst estimates. Airbnb (ABNB) – Airbnb fell 3.8% in premarket trading after Morgan Stanley downgraded the stock to underweight from equal-weight.

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