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After a rough September, October has so far been much more kind to stocks and has helped Wall Street cut into some of its third-quarter losses . FL mountain 2023-09-29 Foot Locker's stock performance so far in October. LLY mountain 2023-09-29 Eli Lilly's stock performance so far in October. PANW mountain 2023-09-29 Palo Alto's stock performance so far in October. HUM mountain 2023-09-29 Humana's stock performance so far in October.
Persons: Dow, Locker, Foot, Jim Cramer, Eli Lilly's, Eli Lilly, Jim Cramer's, Jim, Angela Weiss Organizations: Dow Jones, Nasdaq, Nike, Novo Nordisk, Palo Alto Networks, Nvidia, Johnson Controls, Palo Alto, Coterra Energy, Exxon Mobil, Club, Natural Resources, Humana, UnitedHealth, CNBC, New York Stock Exchange, Wall, AFP, Getty Locations: Alto, Israel, U.S, New York City
Goldman Sachs reiterates Amazon as buy Goldman Sachs said it's standing by its buy rating ahead of earnings later this month. Citi reiterates Netflix as buy Citi said it's standing by its buy rating on the stock heading into earnings next week. Bank of America reiterates Ford as buy Bank of America said its standing by its buy rating on the stock despite the strike at Ford's largest truck plant. Bank of America upgrades Target to buy from neutral Bank of America said it sees an attractive risk/reward for Target shares. " RBC downgrades ResMed to sector perform from outperform RBC said in its downgrade of ResMed that it sees slowing earnings growth.
Persons: Warby Parker, BTIG, Goldman Sachs, Morgan Stanley, it's, JPMorgan, Bernstein, underperform Bernstein, CLX, Ford, Wells, Wells Fargo, Truist, it's bullish, D.A, Davidson Organizations: Citi, Netflix, 4Q23, Barclays, Spotify, Taiwan Semiconductor, JPMorgan, RBC, BMO, Bank of America, Ford's, UAW, Detroit, underperform Bank of America, 3Q, Microsoft, " Bank of America, of America, Exxon Mobil, Exxon, Pioneer, Seaport, Mizuho Locations: 2H24
Jim Cramer sees a bull market in cybersecurity
  + stars: | 2023-10-09 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Despite recent market weakness in several sectors, CNBC's Jim Cramer said he sees a bull market in cybersecurity. "You always want to buy the stocks of companies in industries where demand is most rabid," Cramer said. MGM , Caesars , Johnson Controls and Clorox have faced recent hacks. Clorox took a huge earnings hit due to processing delays and product outages, Cramer noted. To Cramer, cybersecurity companies such as Palo Alto Networks , CrowdStrike , Okta and Zscaler may be very valuable with businesses willing to pay high prices to protect against hackers.
Persons: Jim Cramer, Cramer, Clorox Organizations: U.S . Securities, Exchange Commission, MGM, Caesars, Johnson, Palo Alto Networks Locations: cybersecurity
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Persons: Dow Jones Organizations: kellogg, exxon Locations: maine
NEW YORK (AP) — The cybersecurity attack at MGM Resorts last month is expected to cost the casino giant more than $100 million, the Las Vegas-based company said in a Thursday regulatory filing. MGM wasn't the only casino giant to see a cybersecurity breach last month. The Reno-based company said that its casino and online operations were not disrupted. Beyond the casino world, Clorox also disclosed a cybersecurity attack recently — noting the company identified “unauthorized activity” on some of IT systems back in August. ________________AP Reporters Ken Ritter and Rio Yamat in Las Vegas contributed to this report.
Persons: Bill Hornbuckle, Hornbuckle, Hornbuckel, Clorox, Ken Ritter, Rio Organizations: MGM Resorts, Las, MGM, Social, Securities and Exchange Commission, Caesars Entertainment, Caesars, Wall Street, ________________ Locations: Las Vegas, Reno
TOKYO (AP) — Asian shares mostly rose in cautious trading Friday after Wall Street drifted to a quiet close on worries about a too-hot U.S. job market. A comprehensive report on the overall U.S. job market is due Friday, and economists expect it to show hiring slowed to a pace of 163,000 jobs added in September from 187,000 in August. Political Cartoons View All 1202 ImagesInvestors worry that too strong a U.S. job market could add to upward pressure on inflation. That’s why the Fed has raised its main interest rate to the highest level since 2001, to intentionally slow the job market. Stocks have struggled since the summer under the weight of soaring Treasury yields in the bond market, which undercut stock prices and crimp corporate profits.
Persons: Australia's, Seng, , Anderson Alves, acquiesce, Rubeela Farooqi, Lamb Weston, Brent Organizations: TOKYO, Nikkei, China, Dow Jones, Nasdaq, Stocks, Federal Reserve, Automotive, Treasury, U.S Locations: Hong, China, Hong Kong, U.S, ActivTrades, Clorox
It all kind of started Wednesday of last week when Johnson Controls revealed it had been hit by a cyberattack. But why is this specific cybersecurity incident of particular interest? That agency is reportedly investigating if any floor plans and security information were exposed as a result of the attack. The culprit was a significant cybersecurity breach from August — "which caused wide-scale disruption of Clorox's operations, including order processing delays and significant product outages." Clorox is now expecting a hefty year-over-year sales decline as well as a quarterly loss thanks to the incident.
Persons: Johnson, Clorox Organizations: Department of Homeland Security
Bottles of Clorox bleach are displayed for sale on the shelves of a Wal-Mart store in Rogers, Arkansas, June 4, 2009. Shares in Clorox last traded at $121.16 after earlier hitting a low of $119.56 and were eying their biggest one-day percentage loss since Feb. 2022. After this, Evercore ISI slashed its Clorox price target to $120 from $160 and Raymond James downgraded it to 'market perform' from 'outperform'. Bank of America cut its price target to $120 from $145 while Deutsche Bank dropped its target to $136 from $155. But, Evercore ISI analyst Javier Escalante who rates Clorox 'underperform,' voiced concerns about how long the company took to work out the financial impact.
Persons: Jessica Rinaldi, Raymond James, Anna Lizzul, Lizzul, Clorox, Javier Escalante, Escalante, Sinéad Carew, Andrew Heavens Organizations: REUTERS, ISI, Bank of America, Deutsche Bank, Thomson Locations: Rogers , Arkansas, Clorox
Although longer-dated U.S. Treasury yields eased from 16-year highs on Wednesday, investors remain concerned that the elevated levels may pressure equities. Worries about U.S. government spending and its ballooning budget deficit have added to uncertainty around the interest rates trajectory, contributing to a steep selloff that have caused a rout in Treasury prices and a spike in yields. The S&P 500 and the tech-heavy Nasdaq lost around 5% and 6% last month as yields spiked. Traders put the chance of interest rates remaining unchanged in November and December at 80% and 63%, respectively, according to CME's FedWatch tool. ET, Dow e-minis were down 92 points, or 0.28%, S&P 500 e-minis were down 10.5 points, or 0.24%, and Nasdaq 100 e-minis were down 27.75 points, or 0.19%.
Persons: Brendan McDermid, Janet Mui, Loretta Mester, Neel Kashkari, Richmond's Thomas Barkin, Mary Daly, Michael Barr, Kevin McCarthy, Steve Scalise, Jim Jordan, Joe Biden, VinFast, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Treasury, RBC Brewin, Apple, Traders, Dow e, Federal, Democratic, Rivian, EV, Chevron, Exxon Mobil, Occidental Petroleum, Thomson Locations: New York City, U.S, Minneapolis, Bengaluru
Clorox Warns of a Sales Mess After Cyberattack
  + stars: | 2023-10-05 | by ( Ben Glickman | ) www.wsj.com   time to read: 1 min
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Persons: Dow Jones
FILE PHOTO:Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Even as longer-dated Treasury yields eased from 16-year highs on Wednesday, investors remain concerned that the elevated levels may continue to pressure equities. The Labor Department's report showed the number of Americans filing new claims for unemployment benefits rose moderately last week, while layoffs declined in September, pointing to still-resilient labor market conditions. Following a mixed jobs reports earlier this week, focus will be on the more comprehensive September non-farm payrolls data on Friday. Declining issues outnumbered advancers for a 1.50-to-1 ratio on the NYSE and a 1.22-to-1 ratio on the Nasdaq.
Persons: Brendan McDermid, Charles, Henry Monchau, Neel Kashkari, Richmond's Thomas Barkin, Mary Daly, Michael Barr, Kevin McCarthy, Steve Scalise, Jim Jordan, Joe Biden, VinFast, Lamb, advancers, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, U.S, Treasury, Syz Group, Healthcare, Labor, Dow Jones, Traders, Federal, Democratic, Rivian, EV, Dell Technologies, Lamb Weston Holdings, NYSE, Thomson Locations: New York City, U.S, Minneapolis, Bengaluru
Cramer’s Stop Trading: Clorox
  + stars: | 2023-10-05 | 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 EmailCramer’s Stop Trading: CloroxCNBC’s Jim Cramer explains why he is keeping an eye on shares of Clorox.
Persons: Jim Cramer Locations: Clorox
Check out the companies making headlines in premarket trading. Rivian — Shares of the electric vehicle maker plunged 8.7% after Rivian announced a $1.5 billion convertible bond sale and issued disappointing guidance for the third quarter. Energy stocks — Shares of oil firms Occidental Petroleum , Chevron and ExxonMobil were all lower in premarket trading, as crude prices added to Wednesday's steep declines. Clorox — Shares slipped 4.4% in premarket trading Thursday, a day after the product maker offered weaker guidance for the fiscal first quarter than analysts expected. UWM Holdings — Shares of the mortgage company rose 4.3% in premarket trading after a BTIG upgrade to buy from neutral.
Persons: Rivian, Raymond James, BTIG, Oliver Davies, Vestis, , Alex Harring, Pia Singh, Jesse Pound Organizations: of Manhattan, StreetAccount, Energy, Occidental Petroleum, Chevron, ExxonMobil, Occidental, Holdings, United Wholesale Mortgage, Orchard Therapeutics, Kirin, Redburn Locations: Meatpacking, New York City, Chevron, Aramark
Bank of America initiates Wingstop as buy Bank of America said shares of the wing restaurant company are attractive. " Bank of America downgrades Carrier to underperform from neutral Bank of America said it sees residential headwinds. "We are initiating on the Alternative Asset Management sector with a Market Overweight rating. Deutsche Bank initiates AIG as buy Deutsche Bank initiated the insurance company with a buy and says shares are de-risked. Bank of America reiterates American Express as a top pick Bank of America said the credit card company is its favorite idea in the sector. "
Persons: Stifel, Wedbush, Morgan Stanley, Ford, CARR, Parker, ITW, Raymond James downgrades Clorox, Raymond James, CLX, Johnson, Wolfe, Bernstein, Chubb Organizations: BMO, Sinclair, Oculis, Citizens, CIT Group, Bank, JPMorgan, Barclays, Meta, Bank of America, Ford, General Motors, GM, UAW, of America, Nvidia, ISI, RBC, Johnson, Pharma, KKR, Alternative, Management, Asset Management, CART, Deutsche Bank, AIG, Citi, O'Reilly Automotive, O'Reilly, American Express Locations: CY24, U.S
Here are some of the tickers on my radar for Thursday, Oct. 5, taken directly from my reporter's notebook:If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free.
Persons: Jim Cramer's
Rivian said it anticipates revenue to range between $1.29 billion and $1.33 billion, versus the $1.3 billion forecast by analysts polled by LSEG, formerly known as Refinitiv. Clorox — Shares dropped 7.7% on Thursday, one day after the product maker offered worse fiscal first-quarter guidance than analysts polled by FactSet expected. Oculis — Shares rose 3.4% after Stifel initiated coverage of the biopharma company with a buy rating and $35 target price. Johnson & Johnson — Shares of the health-care giant added 0.8% in midday trading after RBC initiated company coverage with an outperform rating. Instacart — Instacart fell 2.9% after Bernstein initiated coverage of the company at a market perform rating, noting that increased competition challenged the delivery company's strong digital advertising business.
Persons: Rivian, Clorox, FactSet, Kyowa Kirin, Vestis, Oculis, Wedbush, Shagun Singh, Lamb Weston — Lamb Weston, Tom Werner, Instacart — Instacart, Bernstein, — CNBC's Brian Evans, Alex Harring, Tanaya Macheel, Sarah Min, Jesse Pound, Pia Singh, Samantha Subin, Michelle Fox Theobald Organizations: Rivian, Rivian Automotive, LSEG, Exxon Mobil —, UWM Holdings, BTIG, Orchard Therapeutics, Kyowa, Redburn, JPMorgan, Carrier, Bank of America, Johnson, RBC, Constellation Locations: Aramark, Europe
Raymond James also downgraded the stock to market perform Thursday morning, citing the larger-than-expected material effect the attack had on the company. Clorox said after the bell Wednesday that it expects to report a 23% to 28% decline in sales during the quarter that ended Sept. 30. Clorox also said it estimates its gross margin for the quarter will be down from the year-ago period. It expects to post a per share loss of 35 cents to 75 cents. On an adjusted basis, it projects a loss of up to 40 cents a share.
Persons: Raymond James, Clorox Organizations: Walmart Locations: Austin , Texas
Friday's monthly payrolls report could be the week's most important economic news, however, investors remained concerned about whether the Federal Reserve will keep rates higher for longer. Stocks ended well off their weakest levels of the session, and strategists noted the S&P 500 was holding above its 200-day moving average, currently at around 4,206. After recent market weakness, investors are keen for third-quarter earnings reports to kick off mid-month. S&P 500 company earnings overall are expected to have risen 1.6% year-over-year for the quarter, according to LSEG IBES data. The S&P 500 posted three new 52-week highs and 39 new lows; the Nasdaq Composite recorded 24 new highs and 330 new lows.
Persons: Stocks, Mary Daly, Peter Cardillo, Brendan McDermid, Caroline Valetkevitch, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta, David Gregorio Our Organizations: Companies, Dow, Nasdaq, Federal Reserve, Benchmark U.S, Treasury, Spartan Capital Securities, San Francisco Fed Bank, Economic, of New, New York Stock Exchange, REUTERS, Dow Jones, Dell Technologies, NYSE, Thomson Locations: New York, of New York, U.S, New York City, Bengaluru
Clorox, reeling from cyberattack, expects quarterly loss
  + stars: | 2023-10-04 | by ( ) www.reuters.com   time to read: +2 min
Bottles of Clorox bleach are displayed for sale on the shelves of a Wal-Mart store in Rogers, Arkansas, June 4, 2009. "The company expects to experience ongoing, but lessening, operational impacts in the second quarter as it makes progress in returning to normalized operations," it said in a statement. A Clorox spokesperson said the company had informed law enforcement about the attack but had no further comment. The company expects a loss per share of between 35 cents and 75 cents in the quarter ended on Sept. 30, and for net sales to fall by 23% to 28% from a year earlier. "The impact from the cybersecurity attack more than offset the benefits of pricing, cost savings and supply chain optimization," Clorox said.
Persons: Jessica Rinaldi, Clorox, Savyata Mishra, Zeba Siddiqui, Shilpi Majumdar, Tom Hogue Organizations: REUTERS, cyberattacks, MGM Resorts International, Caesars Entertainment, Reuters, MGM, Caesars, Bloomberg, FBI, Thomson Locations: Rogers , Arkansas, U.S, Oakland , California, Bengaluru, San Francisco
Futures tied to the Dow Jones Industrial Average slid 57 points, or 0.2%. Stocks were aided by a retreat in Treasury yields. The rate on the 10-year Treasury note slipped from highs last seen in 2007 after payroll processing firm ADP said that private job growth totaled 89,000 for September. The spread between the 2-year and 10-year Treasury yields ended Wednesday at about 31 basis points. The 2- and 10-year yield curve has been inverted since March 2022 – meaning short-term Treasury rates are higher than long-term rates.
Persons: Clorox, FactSet, I've, Liz Young, Stocks, Dow Jones, Young, Yun Li Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Dow Locations: New York City . U.S
Clorox on Wednesday warned that its sales and profit took a big hit during the quarter ending Sept. 30, largely due to the after effects of a cyberattack that significantly affected operations. The bleach and cleaning products maker said it expects net sales to decrease 23% to 28%. Clorox also said the cyberattack, which it disclosed in August, continues to hurt production, although the effect is lessening. Clorox said it is still assessing what effect the hack could have on the current fiscal year and beyond. MGM also warned in September that the attack could have a material effect on company finances.
Persons: Clorox Organizations: MGM, Caesars, Bloomberg Locations: Clorox
Sphere Entertainment — The stock jumped more than 7% after the entertainment and media company opened its Sphere venue in Las Vegas with a show from U2 on Friday night. Insulet — Shares gained 3.4% in premarket trading. Sunnova Energy International — UBS initiated coverage of the solar company with a buy rating, sending shares up 1.5% in premarket trading. Clorox — The consumer products company rose 3.3% in premarket trading after D.A. AMC Entertainment — Shares of the entertainment company moved up 2% before the bell after it announced that Renaissance: A Film by Beyoncé, would be distributed in the U.S. in December.
Persons: Jefferies, Sunnova, Clorox, Davidson, Beyoncé, Goldman Sachs, Chubb —, — CNBC's Michelle Fox, Lisa Han, Jesse Pound Organizations: ISI, Rivian Automotive, Sunnova Energy, — UBS, AMC, SolarEdge Technologies, Barclays, Nvidia, FedEx, Susquehanna, JPMorgan, Chubb Limited Locations: Las Vegas , Nevada, United States, Las Vegas, U.S
Here are Monday's biggest calls on Wall Street: Goldman Sachs adds Nvidia to the conviction buy list Goldman said the stock is well positioned to benefit for AI. UBS initiates Sunnova as buy UBS said the solar company is best positioned to take share. Morgan Stanley upgrades U.S. Steel to overweight from equal weight Morgan Stanley said in its upgrade of the steel stock that the transformation continues. UBS reiterates Amazon as buy UBS raised its price target on Amazon to $180 per share from $175 and says it's bullish on ads in Prime video content. Morgan Stanley reiterates TJX Companies as overweight Morgan Stanley said it's sticking with its overweight rating after a meeting with company management.
Persons: Goldman Sachs, Goldman, bullish, Evercore, RIVN, Gordon Haskett, Piper Sandler, Piper, Jefferies, Truist, Wells, ROY, SolarEdge, Morgan Stanley, Davidson, CLX, it's Organizations: Nvidia, UFC, WWE, UBS, NOVA, Susquehanna, FedEx, Meta Connect, Microsoft, Barclays, JPMorgan, Apple, Steel, Bank of America, NSC, Amazon, TJX Companies Locations: PODD, GLP, 3Q23, 2Q23, 1Q23, 4Q23, Europe, Bank of America downgrades Norfolk Southern
The Great Zelle Pool Scam
  + stars: | 2023-10-01 | by ( Devin Friedman | ) www.businessinsider.com   time to read: +38 min
When I asked Chase to discuss Zelle fraud, I received an email saying, "Unfortunately, we don't have anyone available for an interview." The way the email messages from Gary were subliterate in a completely different way from the way a classic Gary email is subliterate. When Gary Kruglitz told us to Zelle him, he didn't really tell us to Zelle him. Out of all the kinds of money, money to build a pool is probably the very best kind of money for the world to suffer the loss of. It's possible that the government will eventually be moved to safeguard consumers against Zelle fraud.
Persons: Madison Ketcham, Gary Kruglitz, Gary, couldn't, he'll, Gary —, , Cheryl, Sheryl, Sheryl —, we'd, Jeff Allen's, didn't, Jeff, Krystal, we'll, He'd, you've, Karen, I'm, she'd, Yellllow, Zelle, Chase, Sen, Elizabeth Warren, there's, That's, It's, Jesus, who'd, Donald Trump, Gary Kruglitzes, Cheryls —, Yasmine48, Nixon, Evan Kohlmann, cybercrime, we've, I've, Kohlmann, Guess, Let's, that's, Elizabeth Warren's, it's, they're, Warren's, Warren, I'd, they'd, blinked Organizations: Boston Pops, The New York Times, New York Times, Chase, Bank of America, PNC, US Bank, PayPal, Disney, NBC, Warner Bros, Netflix, JPMorgan Chase, Bank —, of, Professionals, Justice Department, Northeast . Contractors, Cloudburst Technologies, Facebook, FBI, Mafia, Massachusetts State Police, Monterey Police Department, Police Locations: Massachusetts, Lyme, Tennessee, Wells Fargo, Truist, Silicon Valley, Amsterdam, Northeast, what's, Paxful, Estonia, Korea, Monterey , Massachusetts, Monterey
Because a lot of bank branches were still closed, and the crew wanted their money, he requested that we transfer the money via Zelle. When I asked Chase to discuss Zelle fraud, I received an email saying, "Unfortunately, we don't have anyone available for an interview." The way the email messages from Gary were subliterate in a completely different way from the way a classic Gary email is subliterate. When Gary Kruglitz told us to Zelle him, he didn't really tell us to Zelle him. It's possible that the government will eventually be moved to safeguard consumers against Zelle fraud.
Persons: Madison Ketcham, Gary Kruglitz, Gary, couldn't, he'll, Gary —, , Cheryl, Sheryl, Sheryl —, we'd, Jeff Allen's, didn't, Jeff, Krystal, we'll, He'd, you've, Karen, I'm, she'd, Yellllow, Zelle, Chase, Sen, Elizabeth Warren, there's, That's, It's, Jesus, who'd, Donald Trump, Gary Kruglitzes, Cheryls —, Yasmine48, Nixon, Evan Kohlmann, cybercrime, we've, I've, Kohlmann, Guess, Let's, that's, Elizabeth Warren's, it's, they're, Warren's, Warren, I'd, they'd, blinked Organizations: Boston Pops, The New York Times, New York Times, Chase, Bank of America, PNC, US Bank, PayPal, Disney, NBC, Warner Bros, Netflix, JPMorgan Chase, Bank —, of, Professionals, Justice Department, Northeast . Contractors, Cloudburst Technologies, Facebook, FBI, Mafia, Massachusetts State Police, Monterey Police Department, Police Locations: Massachusetts, Lyme, Tennessee, Wells Fargo, Truist, Silicon Valley, Amsterdam, Northeast, what's, Paxful, Estonia, Korea, Monterey , Massachusetts, Monterey
Total: 25