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The Aug. 2 dinner at the Bridgehampton, N.Y., home of Howard Lutnick, the Cantor Fitzgerald chief executive, was a high-powered affair. Among the roughly 130 people who dined under an air-conditioned tent were some of Donald Trump’s wealthiest supporters, including the billionaire hedge-fund financier Bill Ackman, who sat next to the former president, and Omeed Malik, the president of another fund, 1789 Capital. Some guests hoped Mr. Trump would signal that he was recalibrating after a series of damaging mistakes. He did not. According to two people present, Mr. Trump himself also brought up his remark, made two days earlier at a gathering of the National Association of Black Journalists, in which he had questioned Vice President Kamala Harris’s racial identity.
Persons: Howard Lutnick, Cantor Fitzgerald, Donald Trump’s, Bill Ackman, Omeed Malik, Trump, Lutnick’s, “ We’ve, Kamala Harris’s Organizations: National Association of Black Journalists
Bitcoin was no exception to Monday's broad market rout, which gives investors a good buying opportunity, according to analysts. The flagship cryptocurrency dropped 11% over the three days ending Monday, according to Coin Metrics, pulling down the performance of stocks related to it. "As a reminder, Bitcoin historically has very strong returns in the one-year period post halving," Brett Knoblauch, an analyst at Cantor Fitzgerald, said in a note Monday. Cantor has overweight ratings on eight mining stocks, including Riot Platforms , CleanSpark , Iris Energy , Core Scientific and Cipher Mining . Knoblauch said Riot Platforms, one of the largest of the mining stocks, has the best liquidity and one of the cheapest all-in costs to mine bitcoin.
Persons: Bitcoin, Brett Knoblauch, Cantor Fitzgerald, Knoblauch, Cantor, Iris, Energy, — CNBC's Michael Bloom Organizations: Iris Energy, Core, Cipher
Bitcoin 2024 attendee wears "Make Bitcoin Great Again" baseball cap. Trump said on Saturday that his campaign has raised $25 million from the crypto industry since it began accepting cryptocurrency donations in May. "Make Bitcoin Great Again" hats displayed for sale at the Bitcoin 2024 conference in Nashville, Tennessee, US, on Saturday, July 27, 2024. "The rules will be written by people who love your industry, not hate your industry," Trump declared that afternoon in the main auditorium as he warmed up the crowd. As Riot's Les put it, "I think the core message that we communicated to President Trump was, 'This is your industry leadership group.
Persons: Donald Trump, Jon Cherry, Donald Trump White, Tyler, Cameron Winklevoss, Paul Grewal —, David Sacks, Cantor Fitzgerald, Howard Lutnick, Cynthia Lummis, Bill Hagerty, Marsha Blackburn, Vivek Ramaswamy —, Kid Rock, Billy Ray Cyrus, Jason Les, Fred Thiel, Zach Bradford, Chris Cook, Amanda Fabiano, Michael Saylor wasn't, Saylor, Trump, That's, Donald Trump's, Les, he's, litigator, Tracy Hoyos, Cyrus strummed, " Hoyos, López, Hoyos, Cyrus, López Trump, Marathon's Thiel, Thiel, David Bailey, Bailey, Sen, Elizabeth Warren, Gary Gensler —, Kamala Harris, Cook, Saturday's, CleanSpark's Bradford, Riot's Les, indoctrinating, Bradford, they've, It's, we're Organizations: Republican, Getty, Music City Center, GOP, Gemini, Trump, U.S ., State Department, Marathon Digital Holdings, CNBC, Music City, Riot, Attorney, Bitcoin, BTC Inc, U.S . Securities, Exchange, US, Bloomberg, indoctrinating Trump, Industry, Mar Locations: Nashville , Tennessee, San Francisco, Nashville, Mar, Lago, U.S, San Bernardino County, López
Bank of America reiterates Arm as buy Bank of America said it's sticking with the stock following earnings on Wednesday. Robinson to overweight from neutral JPMorgan upgraded the shipping company following its earnings. Barclays reiterates Meta as overweight Barclays says it's sticking with the Instagram parent following earnings on Wednesday. " Bernstein reiterates Qualcomm as outperform Bernstein says it's sticking with Qualcomm following earnings on Wednesday. Citi reiterates SoFi as buy Citi said it's getting more bullish on the stock following a series of investor meetings.
Persons: Goldman Sachs, Goldman, Morgan Stanley, Zeta, Oppenheimer, Etsy, Baird, Wolfe, Bill.com, Robinson, Raymond James, RDDT, Wells, David Lantz, Zack Fadem, Bernstein, Leerink, Cantor Fitzgerald, Tesla, Cantor, it's bullish, Morgan Stanley downgrades Voya, SoFi, it's Organizations: Mizuho, Bank of America, ARM, Zeta Global, Zeta, JPMorgan, GE, NFL, NBA, MLB, Nascar, Barclays, Meta, Qualcomm, SOX, Elon Musk's, Citi Locations: OW, 2H24, China, bullish
Here are Monday's biggest calls on Wall Street: Morgan Stanley reiterates Live Nation as overweight Morgan Stanley said shares of the entertainment concert company are compelling. " Cantor Fitzgerald reiterates Nvidia as overweight Cantor said the stock is still a top pick at the firm. Guggenheim upgrades Akamai to buy from neutral Guggenheim said shares of the cloud computing networking company have more room to run. Bank of America reiterates Apple as buy Bank of America said it's bullish heading into Apple earnings later this week. JPMorgan reiterates Eli Lilly as overweight JPM said the stock is a "core holding" ahead of earnings on August 8.
Persons: Morgan Stanley, Cantor Fitzgerald, Cantor, TD Cowen, AAPL, Wells, Booz Allen Hamilton, it's, Guggenheim, Piper Sandler, Charles Schwab, Piper, Schwab, Olin, Mizuho, Bill Brown's, Myers Squibb, JPMorgan, Eli Lilly, JPM, Evercore, Tesla, Oppenheimer, Raymond James, Davidson, Raymond James downgrades Organizations: NVDA, MU, Apple, Huawei, Booz, Guggenheim, RBC, Deutsche Bank, Northrop, Deutsche, JPMorgan, Uber, Holdings, 3M, " Bank of America, Bank of America, Edge, Barclays downgrades Bristol, Myers Squibb, Barclays, Bristol, Ford, Microsoft, Charter, HSBC Locations: China, underperform
Here are Wednesday's biggest calls on Wall Street: RBC upgrades Estee Lauder to outperform from sector perform RBC said it sees an attractive risk/reward. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's standing by shares of Tesla following the release of disappointing earnings. Morgan Stanley initiates Biohaven as overweight Morgan Stanley said it sees "value creation" for the biotech company. Morgan Stanley downgrades General Motors to equal weight from overweight Morgan Stanley said it sees a more "balanced" risk/reward for shares of GM. " Cantor Fitzgerald downgrades Tesla to neutral from overweight Cantor downgraded Tesla following earnings on Tuesday.
Persons: Lauder, Raymond James, Taylor Morrison, it's, Morgan Stanley, Tesla, Tesla's, TD Cowen, JFrog, Cowen, Lockheed Martin, Goldman Sachs, Goldman, Smith, Stifel, GOOGL, Jefferies downgrades, Gamble, Jefferies, Piper Sandler downgrades Ulta, Piper, Gordon Haskett, Joel Anderson, Cantor Fitzgerald downgrades Tesla, Cantor Organizations: RBC, Taylor Morrison Homes, Tesla, Lockheed, Spotify, JPMorgan, Garden Entertainment, Apple JPMorgan, Apple, Jefferies downgrades Colgate, Palmolive, Procter, Colgate, Gamble, Deutsche Bank, Deutsche, Motors, GM, Barclays, Disney, Universal Studios, Davidson Locations: GenAI, Malibu
Tesla's stock dropped as much as 13% on Wednesday after reporting weak second-quarter earnings. AdvertisementTesla stock tumbled as much as 13% on Wednesday after the company's second-quarter results offered limited reassurance to eager investors. It marked the fourth straight quarter Tesla has fallen short of analyst forecasts. The taxi's unveiling, seen by many on Wall Street as a major AI-driven catalyst for Tesla, was originally scheduled for next month. "Tesla's muddling through the EV recession," Morgan Stanley analyst Adam Jones wrote, citing a quarter-over-quarter drop in capital expenditures.
Persons: Tesla, , Elon Musk, Morgan Stanley, Adam Jones, Nikola, Dan Levy, Tesla's, Cantor Fitzgerald, Andres Sheppard, Gene Munster, Dan Ives, Sheppard Organizations: Service, EV, General Motors, Buick, Barclays, Deepwater Asset Management, Wedbush Securities, Tesla
Wall Street is bracing for a rocky road ahead for shares of Tesla on the heels of a messy second-quarter print. That week Tesla shares rallied more than 27% to briefly erase a year-to-date loss . UBS analyst Joseph Spak noted the current stock price reflects a investors ascribing a "hefty value" to these plans. His $120 price target implies about 28% downside from Tuesday's close. Piper Sandler's Alexander Potter upped his price target to $300 from $205 a share, citing expectations for a faster-than-expected rollout of full self-driving (FSD) capabilities.
Persons: Tesla, Wells Fargo's Colin Langan, Cantor Fitzgerald, Pierre Ferragu, Goldman Sachs, Mark Delaney, Delaney, Joseph Spak, Spak, Toni Sacconaghi, Piper Sandler's Alexander Potter, Baird's Ben Kallo, Stephen Gengaro Organizations: Tesla, UBS, EV Locations: 1H25
CME Group CEO Terry Duffy on record quarter
  + stars: | 2024-07-24 | 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 EmailCME Group CEO Terry Duffy on record quarterTerry Duffy, CME Group CEO, joins 'Money Movers' to discuss the company's record-hitting earnings report, his reaction to Cantor Fitzgerald CEO Howard Lutnick's comment, and more.
Persons: Terry Duffy, Cantor Fitzgerald, Howard Lutnick's
The four best-performing stocks in the S & P 500 year to date were down an average of 13.5% last week. .SPX 5D mountain The S & P 500's performance in the past five trading days. The anchoring effect of a persistently strong half-dozen $1-trillion to $3-trillion companies atop the S & P 500 while most stocks wallowed had the effect of suppressing index volatility. The S & P 500 is now about 3% off its record, and the Nasdaq 100 is in a roughly 5% retreat from its high. History says when the S & P 500 has been up more than 10% in the first half of a year , as in 2024, it has gone to further highs by year's end nearly every time.
Persons: Russell, Donald Trump, Cash, Parag Thatte, Thatte, Goldman Sachs, wallowed, Cantor Fitzgerald Organizations: Axonic Capital, Deutsche Bank, Nasdaq
Here are Friday's biggest calls on Wall Street: UBS upgrades Accenture to buy from neutral UBS said the IT services company has AI optionality. UBS upgrades Wolverine World Wide to buy from neutral UBS said it sees sales growth and margin upside for the footwear manufacturer. JPMorgan reiterates Netflix as overweight JPMorgan said it's sticking with its overweight on Netflix following Thursday's earnings report. Bank of America reiterates Amazon as buy Bank of America said it's sticking with its buy rating following Amazon's Prime Day. UBS upgrades Ameren to buy from neutral UBS upgraded the electric services company and said regulatory risks are "overly discounted."
Persons: Morgan Stanley, Oppenheimer, William Blair, it's, Needham, Coinbase, Wedbush, it's bullish, Barclays downgrades Molson Coors, Cantor Fitzgerald, Cantor, Evercore, JPMorgan, Buck, Melius Organizations: UBS, Accenture, JPMorgan, Netflix, Revenue, Bank of America, 3Q, Nvidia, Meta, NASDAQ, Trump, Vance, Big Tech, Choice, Barclays downgrades, Barclays, TAP, Apple, Services, Broadcom, Broadcom's, Consumer, Hasbro Locations: China, Coinbase
Bank of America reiterates Nvidia as buy Bank of America said it's sticking with its buy rating on Nvidia and that investors should "focus on fundamentals." "We are initiating on Frontier with a Buy rating and $33 PT." BMO upgrades Allstate to outperform from market perform BMO said it sees growth potential for the insurance company. " Morgan Stanley reiterates Taiwan Semiconductor as overweight Morgan Stanley said it's sticking with its overweight rating following the company's earnings report. " "We initiate coverage of Impinj with an Overweight rating and $205 price target."
Persons: Wolfe, Mizuho, it's, Goldman Sachs, Goldman, Baird, Morgan Stanley, Wells, TD Cowen, Redburn, William Blair, , Roth MKM, Roth, TSMC, JPMorgan, Chipotle, Cantor Fitzgerald, Cantor Organizations: Exxon, ExxonMobil, Bank of America, Nvidia, Apple, UBS, Frontier, Mizuho, Citi, Vans, BMO, Allstate, Deutsche, Meta, Paris, Palo Alto Networks, Palo, AMC, 3Q, Taiwan Semiconductor, JPMorgan, CMG Locations: Palo Alto
Trump's stance could have major implications for Taiwan's dominance in semiconductor chip manufacturing should any potential conflict arise between Taiwan and China. And such a scenario would likely have a cataclysmic effect on the US economy should the global chip supply chain be disrupted. And Taiwan's microchip production is anchored by the Taiwan Semiconductor Manufacturing Company, or TSMC, a global powerhouse. A recent report released by the Semiconductor Industry Association revealed that America's share of global chip manufacturing is set to increase to 14% by 2032. After Trump's latest remarks about Taiwan and the potential for tighter trade curbs on China, global chip stocks fell, with notable declines for Nvidia, TSMC, and Qualcomm, among others.
Persons: , Donald Trump, Trump, Joe Biden, Biden, CJ Muse, Cantor Fitzgerald, Trump's Organizations: Service, Bloomberg Businessweek waded, Business, Taiwan Semiconductor Manufacturing Company, US State Department, Financial Times, Bloomberg Businessweek, Congress, China, Bloomberg, CNBC, of Commerce, BIS, of Industry, Security, Semiconductor Industry Association, Nvidia, TSMC, Qualcomm Locations: Taiwan, China, Beijing, America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Cantor Fitzgerald's Howard LutnickHoward Lutnick, Cantor Fitzgerald chairman and CEO, joins 'Money Movers' to discuss what a Republican sweep in November would mean for the economy, questions around the deficit, and much more.
Persons: Cantor Fitzgerald's Howard Lutnick Howard Lutnick, Cantor Fitzgerald Organizations: Republican
The S & P 500's 14-day relative strength index, or RSI, closed above 81 on Wednesday. This coincided with the S & P 500 closing above 5,600 for the first time. The S & P 500 has closed with an RSI above 81 only 12 other times in the past 40 years, Cantor head of equity derivatives Eric Johnston pointed out. After entering such overbought conditions, the S & P 500 has averaged a decline of 2.21% in the following 15 days, Johnston's data shows. Traders took some profits off the table on Thursday, with the S & P 500 losing 0.9%, pulling back from the all-time highs reached in the previous session.
Persons: Cantor Fitzgerald, Cantor, Eric Johnston Organizations: Traders
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEli Lilly and Novo Nordisk are ahead in manufacturing but need time to meet demand, says Louise ChenLouise Chen, Cantor Fitzgerald analyst, joins CNBC's 'Squawk Box' to discuss Eli Lilly's surge over the past year, manufacturing, and more.
Persons: Eli Lilly, Louise Chen Louise Chen, Cantor Fitzgerald, Eli Lilly's Organizations: Novo Nordisk
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia: Here's why Cantor Fitzgerald raised its price target on the stockC.J. Muse, Cantor Fitzgerald analyst, joins 'Squawk on the Street' to discuss Nvidia before the chipmaker's shareholder meeting.
Persons: Cantor Fitzgerald Organizations: Nvidia
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Apple shares jumped 2% Wednesday after Rosenblatt Securities upgraded the iPhone maker to a buy rating from hold. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Cantor Fitzgerald, Jim, Tim Cook, Morgan Stanley, Wells, Jefferies, Jim Cramer's Organizations: CNBC, Nasdaq, Big Tech, Apple, Nvidia, Rosenblatt Securities, Federal Locations: Wells Fargo
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI trade is at a 'short-term, tactical top', says Cantor Fitzgerald's Eric JohnstonEric Johnston, Cantor Fitzgerald head of derivatives & cross asset, and Bob Elliott, Unlimited Funds CEO, join 'Closing Bell Overtime' to talk the days market action.
Persons: Cantor, Eric Johnston Eric Johnston, Cantor Fitzgerald, Bob Elliott Organizations: Unlimited Funds
Eli Lilly became the most valuable health-care company in the world on the back of its blockbuster diabetes and obesity drugs. The billions of dollars in Eli Lilly is investing in manufacturing capacity support the idea that the long-term opportunity is immense. Adding Eli Lilly to the market could help address some of the obstacles that limited Leqembi's sales early on. Eli Lilly, which has spent billions in search of a successful Alzheimer's treatment , had hoped for donanemab to be approved by now. A sign with the company logo sits outside of the headquarters campus of Eli Lilly and Company on March 17, 2024 in Indianapolis, Indiana.
Persons: Eli Lilly, donanemab, Eli Lilly's, Donanemab, Leqembi —, Biogen, , Jim Cramer's, Ken Langone, Morgan Stanley, Cantor Fitzgerald, Leqembi, Jim Cramer, Jim, Scott Olson Organizations: Food and Drug Administration, FactSet, Novo Nordisk, FDA, GE Healthcare, CNBC, Company, Getty Locations: GLP, Indianapolis , Indiana
Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's sticking with its overweight rating following the company's Worldwide Developers Conference. Baird reiterates Tesla as outperform Baird said it's sticking with its outperform rating heading into Thursday's shareholder meeting. "We are initiating coverage of Bitdeer Technologies Group (BTDR) with an Overweight rating and $13 PT." We argue the former, initiating coverage with an Outperform rating and $50 TP." Barclays reiterates PepsiCo as overweight Barclays said it's sticking with its overweight rating on the stock despite a bumpy macro in the salty snacks category.
Persons: Morgan Stanley, Apple, WWDC, Oppenheimer, Ford, Baird, Tesla, Evercore, Cantor Fitzgerald, Cantor, Piper Sandler, Piper, it's, it's bullish, Bernstein, BTIG, D.A, Davidson, Citi, Uber Organizations: Nets, Apple, JPMorgan downgrades, JPMorgan, Nvidia, Bitdeer, Bitdeer Technologies, Citi, Broadcom, VMware, Barclays, DA, PepsiCo Locations: JPMorgan downgrades Cleveland, Cleveland, Delaware, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed is likely 'keeping it steady' with one cut this year, says Cantor Fitzgerald's Howard LutnickHoward Lutnick, Cantor Fitzgerald CEO, joins 'Closing Bell Overtime' and CNBC's Bob Pisani to talk AI, the recent market rally, the Federal Reserve and more.
Persons: Cantor Fitzgerald's Howard Lutnick Howard Lutnick, Cantor Fitzgerald, Bob Pisani Organizations: Federal Reserve
Wells Fargo reiterates Nvidia as overweight Wells said it's standing by shares of Nvidia. Bank of America reiterates Apple as buy Bank of America said it's bullish on an iPhone with artificial intelligence features. "We maintain our Buy rating on Apple for its multi-year upgrade cycle, gross margin upside and secular services growth." Bank of America reiterates Dell as buy Bank of America said it's sticking with its buy rating on the stock following earnings. Morgan Stanley reiterates Nio as overweight Morgan Stanley said it's standing by its overweight rating on shares of Nio.
Persons: Oppenheimer, Morgan Stanley, Wells, Wynn, it's, Jefferies, Tesla, Dell, Wolfe, Alex Chriss, Rivian, Nio, robustly, Cantor Fitzgerald, Cantor, Rosenblatt Organizations: Beazer, Nvidia, MGM, " Bank of America, Apple, Bank of America, Edison International, Qualcomm, JPMorgan, Banks, PayPal, New, Citi, Lionsgate, Lionsgate Studios, UBS, Tesla, Resilience Locations: Macau, Las Vegas, California, Cincinnati, China, Nio, NetApp
Travel blogger Lee Abbamonte has visited all 50 sovereign countries in Europe. As Americans gear up for summer travel, Abbamonte recommends avoiding certain travel hot spots. He said to check out Eastern Europe and Norway and avoid most of France, Italy, Spain, and Greece. With the start of summer around the corner, many have already booked trips to what travel blogger Lee Abbamonte dubs the Big Four — Spain, Italy, Greece, and France. This story is available exclusively to Business Insider subscribers.
Persons: Lee Abbamonte, Abbamonte, , you'll, Cantor Fitzgerald Organizations: Service, Street, Business Locations: Europe, Norway, France, Italy, Spain, Greece
A $25 billion market Meanwhile, RBC Capital Markets sees a $25 billion market opportunity for the space. A name Jones likes is Perspective Therapeutics , which he rates outperform. CATX 1Y mountain Perspective Therapeutics year to date Cantor Fitzgerald is also bullish on the name. So it's really an ideal profile," said Piper Sandler analyst Edward Tenthoff, who doesn't cover Perspective Therapeutics. Then there is Lantheus Holdings , which calls itself a radiopharmaceutical-focused company and has a $5.6 billion market cap.
Persons: There's, Eli Lilly, Myers, Jefferies, Andrew Tsai, radiopharma, Oppenheimer, Jeff Jones, FactSet, William Blair, Read, — it's, Andy Hsieh, Gregory Renza, Jones, Cantor Fitzgerald, Louise Chen, it's, Piper Sandler, Edward Tenthoff, Dan Lyons, Janus Henderson, Lantheus, Roanna Ruiz Organizations: Novartis, pharma, Mariana Oncology, Myers Squibb, AstraZeneca, Fusion Pharmaceuticals, RBC Capital Markets, TRT, Therapeutics, Alpha, Janus, Janus Henderson Investors, Lantheus Holdings, Lantheus, Leerink, ~$ Locations: Biopharma, Bristol, Mariana, radiopharma, New Jersey
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