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☆ 'The choice of the people': How Modelo and Corona maker Constellation Brands won the loyalty of Hispanic consumers in the U.S.
▼ + stars: | 2024-10-12 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Riojas is part of a base of Hispanic consumers that has become a focal point for Constellation Brands' beer business, which also includes products such as Corona and Pacífico. Hispanic- and Latino-identifying customers accounted for 32.5% of Constellation Brands' sales in 2023, according to data from consumer research firm Numerator and investment bank Jefferies. "Hispanic consumers are the single most important consumer group for our beer business," said Mallika Monteiro, executive vice president and managing director for Constellation's beer brands. The company officially acquired the U.S. beer business of Groupo Modelo, which included Modelo and Corona, from Anheuser-Busch in 2013. "Time and time again, you see that there's that strong bond that consumers form emotionally with brands," Aguirre-Rodriguez said.

Persons: Mario Tama, Rio Riojas, It's, Modelo, Bud, Mallika Monteiro, we've, Alexandra Aguirre, Rodriguez, Constellation's Monteiro, Monteiro, FIU's Aguirre, Aguirre, Kaumil Gajrawala, Gajrawala, William Newlands, Tom Fullerton, bode Organizations: Modelo Especial, Getty, Rio, Constellation Brands, Corona, Modelo, Constellation, Jefferies, Anheuser, Busch, Groupo Modelo, Florida International, University of Texas Locations: Los Angeles , California, Lansing , Michigan, U.S, Mexico, Corona, York, America, Modelo, El Paso, Americas

☆ This niche AI play is seeing business growth rates that are triple the pace of the data centers
▼ + stars: | 2024-10-12 | by ( Paulina Likos | ) www.cnbc.com time to read: +16 min

As artificial intelligence fuels the boom in data center growth, investors are eyeing a new frontier: the companies keeping these digital powerhouses cool. That's because historically, data centers used air cooling to manage the heat generated by traditional cloud applications. Triple data center growth Vertiv and Modine are legacy air cooling players that entered the liquid cooling market through acquisitions, while nVent is a pioneer. "The need for liquid cooling is not cannibalizing the need for mechanical (air) cooling," Matt Summerville, an analyst at D.A. "The need for liquid cooling is not cannibalizing the need for mechanical (air) cooling," Matt Summerville, an analyst at D.A.

Persons: Modine, there's, Dean Dray, Matt Summerville, Davidson, Summerville, William Blair, Brian, nVent, Dray, Vertiv, Jefferies, Saree Boroditsky, Boroditsky Organizations: Modine, RBC Capital Markets, CNBC, D.A, CoolTerra, TMG, Scotts, Scotts Springfield Manufacturing, Asia Pacific, CDU, Summerville, Luza Locations: Scotts Springfield, Asia, Summerville

☆ The insurance sector escaped the 'worst case scenario' with Hurricane Milton: Jefferies' Yaron Kinar
▼ + stars: | 2024-10-11 | 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 EmailThe insurance sector escaped the 'worst case scenario' with Hurricane Milton: Jefferies' Yaron KinarYaron Kinar, Jefferies equity research analyst, joins 'Squawk Box' to discuss Hurricane Milton's impact on the insurance sector, investing in the insurance industry, and more.

Persons: Jefferies, Kinar Organizations: Hurricane Milton, Jefferies

☆ Jefferies' David Zervos explains why the market rally 'looks good'
▼ + stars: | 2024-10-11 | 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 EmailJefferies' David Zervos explains why the market rally 'looks good'David Zervos, Jefferies chief market strategist, joins CNBC's 'Squawk on the Street' to discuss the major indexes on pace for a fifth-straight winning week, how he sees the Fed proceeding with rate cuts, and more.

Persons: Email Jefferies, David Zervos Organizations: Jefferies

☆ Ride-sharing giants Uber, Lyft jump after Tesla's 'toothless taxi' fails to excite investors
▼ + stars: | 2024-10-11 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Klaudia Radecka | Nurphoto | Getty ImagesTesla 's hyped robotaxi unveiling posed a threat to Uber 's ride-sharing aspirations, but it has turned into a boon for the stock instead. That is a massive turnaround for Uber's stock, which is now up nearly 22% over the past month and about 38% for the year. "We believe this helps minimize the ongoing overhang on UBER's stock from TSLA's aspirations in the robotaxi space." Although Tesla appears committed to developing its robotaxi fleet without partnering with existing ride-sharing platforms, Colantuoni expects it could ultimately have to look into this option. Tesla "potentially underappreciates the obstacles to scaling a robotaxi fleet" and could struggle to scale its fleet operations without offering access to demand through Uber and Lyft, he said.

Persons: Klaudia, Tesla, Uber, Jefferies, John Colantuoni, TSLA, Colantuoni, Scott Brauer Organizations: Nurphoto, Lyft, Nasdaq, Jefferies, Tesla, Bloomberg, Getty Locations: Krakow, Poland, Seattle , Washington

☆ Elon Musk's Robotaxi is still miles away from overtaking Uber and Waymo in the ride-hailing race
▼ + stars: | 2024-10-11 | by ( Shubhangi Goel | Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

AdvertisementIf Elon Musk can fully deliver on his plans to make Tesla's Robotaxi the new go-to mode of transport, he could bring an end to the ride-hailing economy as we know it. "Tesla's vehicles, sensors, and software will all need to be approved in any market they hope to enter. "Until Tesla robotaxis are transporting 100,000 paying customers a week around major American cities like Waymo does, Tesla Robotaxi is nothing more than the latest work of fiction to come out of the Warner Bros. "We also believe TSLA could struggle to scale fleet operations without offering access to demand via Uber/Lyft." Uber is already preparing for a future of electric cars and autonomous vehicles without Tesla's involvement.

Persons: BYD, —, Elon, aren't, Tesla, Uber, Musk, Jefferies, John Colantuoni, Paul Miller, Forrester, Dan O'Dowd, Waymo, I've, Gene Munster, Brian Baker, Matt Bryson, Dara Khosrowshahi, We're Organizations: Service, Warner Bros, Tesla, Warner Bros ., Asset, Jefferies, Tesla's, BYD, Aurora, AV Locations: Burbank , California

☆ Jefferies Sheila Kahyaoglu reacts to Boeing announcing 10% workforce reduction
▼ + stars: | 2024-10-11 | 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 EmailJefferies Sheila Kahyaoglu reacts to Boeing announcing 10% workforce reductionSheila Kahyaoglu, Jefferies, joins 'Closing Bell Overtime' to talk news Boeing is laying off 10% of its workforce.

Persons: Jefferies Sheila Kahyaoglu, Sheila Kahyaoglu, Jefferies Organizations: Boeing

☆ Hurricane Milton might cost insurers up to $50 billion — but it could have been much worse, analysts said
▼ + stars: | 2024-10-11 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +4 min

Hurricane Milton's insured losses could cost between $30 billion and $50 billion, said analysts. AdvertisementHurricane Milton stormed Florida on Wednesday, leaving an estimated $30 billion to $50 billion of insured losses, according to analysts from Fitch Ratings in a Thursday note. Milton's insured losses could range from $30 billion to $50 billion, according to Fitch, making it the largest since Hurricane Ian in 2022, which caused $60 billion in damages. According to a September report by Moody's Analytics, Hurricane Helene's insured losses were between $20 billion and $34 billion. Fitch analysts said local insurers might face insufficient reinsurance coverage to handle the losses and drive up premium rates.

Persons: —, Hurricane Milton, Milton, Alejandro Mayorkas, Fitch, Ian, Morningstar DBRS, Jefferies, Ron DeSantis, Helene Organizations: Service, Hurricane, Fitch, US Homeland, White, Morningstar, Reuters, Analytics, National Hurricane Center, Gov, Moody's Analytics, P, Global, Swiss RE Locations: Florida, Tampa, Swiss, Fitch

☆ Nvidia-backed CoreWeave gets $650 million credit line from top Wall Street banks
▼ + stars: | 2024-10-11 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

CoreWeave, an Nvidia -backed artificial intelligence startup that rents out chips to other companies, announced Friday that it has a new $650 million credit line to expand its business and data center portfolio. In the past, CoreWeave has supplied Microsoft and French AI startup Mistral with graphics processing units, or GPUs. And in addition to developing the chips, Nvidia has taken stakes in emerging AI companies like CoreWeave, partly as a way to make sure its technology gets widely deployed. Last week, OpenAI received a $4 billion revolving line of credit, bringing its total liquidity to more than $10 billion. Many of the same banks contributed to OpenAI's credit line.

Persons: it's, CoreWeave, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Mike Intrator, CoreWeave's, OpenAI Organizations: Nvidia, London, Microsoft, JPMorgan, Barclays, Citi, Deutsche Bank, Jefferies, Mizuho Locations: Austin , Texas, Chicago, Las Vegas, French, MUFG, Wells Fargo

☆ Hurricanes are becoming more frequent, violent, and costly — plus they're hitting jobs and economic growth
▼ + stars: | 2024-10-10 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Hurricane Milton is battering Florida days after Hurricane Helene wreaked havoc on several states. The two events are the latest sign that hurricanes are becoming more frequent, more ferocious, and more costly. They're also hitting employment and economic growth, at least in the short term. They estimated that a Category 5 storm could lower fourth-quarter annualized GDP growth by 0.14 percentage points, from a forecasted 2.3% to below 2.2%. "Rebuilding should provide a boost to economic activity in those affected regions in subsequent months, and potentially years," Sweet told BI, quoting from his recent note.

Persons: Milton, Hurricane Helene, Helene, They're, Adam Smith, Jefferies, Harvey, Ian, Smith, Michael Mann, Ryan Sweet, Sweet, Mann, Implan Organizations: Service, Hurricanes, National Oceanic, Atmospheric Administration, NOAA, University of Pennsylvania, Oxford Economics, Boeing, Milton, Potsdam Institute, Climate Impact Research Locations: Florida, North Carolina, Milton

☆ Stocks making the biggest moves midday: First Solar, Tesla, CVS, TD Bank and more
▼ + stars: | 2024-10-10 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: First Solar — The solar stock slipped 8%, on pace for its worst day since July 15, after Jefferies cut its price target on the stock and said it expects First Solar's third-quarter report to disappoint. Tesla — The stock was little changed ahead of the electric vehicle maker's robotaxi event Thursday after the bell. Investors expect Tesla to announce a Cybercab robotaxi prototype alongside advancements in driver assistance features and artificial intelligence capabilities. CVS Health — The pharmacy chain's stock rose 1.8% following an upgrade at Barclays to overweight from equal weight. PayPal — The payments platform stock slipped 2.9% following a Bernstein downgrade to a market perform rating from outperform.

Persons: Jefferies, Stifel, Piper Sandler, Tesla, Bernstein, Harshita Rawat, Venmo, — CNBC's Lisa Han, Sean Conlon, Sarah Min, Hakyung Kim, Michelle Fox Organizations: Enphase Energy, Dominion Bank, Street Journal, GXO Logistics —, Bloomberg, Logistics, American, JPMorgan, CVS Health, Barclays, CVS, Genomics, PayPal Locations: Toronto, Canadian

☆ Here are Thursday's biggest analyst calls: Nvidia, Microsoft, Netflix, CVS, Honeywell, Nike, AIG, Sunnova & more
▼ + stars: | 2024-10-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +14 min

Barclays upgrades CVS to overweight from equal weight Barclays said the stock is a "new margin story." JPMorgan downgrades Honeywell to neutral from overweight JPMorgan said it's downgrading the stock after 15 years with an overweight rating. UBS upgrades Tronox to buy from neutral UBS said it's bullish on the chemical manufacturer. "We upgrade shares of EVGO from Neutral to Buy, following the $1.05bn DOE loan conditional commitment announced last week. "Our bullish view of AIG reflects its outsized EPS growth, lower exposure to risks facing commercial lines carriers (casualty reserves and higher cat loads), high capital flexibility, and attractive valuation."

Persons: Morgan Stanley, Goldman Sachs, Goldman, it's bullish, Jefferies, TD Cowen downgrades, Cowen, Bernstein, Brinker, Kevin Hochman, Truist, it's, BIRK, Cantor Fitzgerald, Mara, Cantor, MARA, Wolfe, Google's, Satya Nadella, Lucas Jackson Organizations: Nvidia, Netflix, Barclays, JPMorgan, Honeywell, Microsoft, UBS, TD Cowen downgrades Pepsi, U.S, Department of Energy, DOE, RBC, PayPal, Cirrus, Bank of America, underperform Bank of America, Nike, Mara Holdings, AIG, DOJ, Google, Reuters Locations: EVGO, EAT's, LHX, New York City

☆ TD Bank hit with record $3 billion fine over drug cartel money laundering, source says
▼ + stars: | 2024-10-10 | by ( Jordan Valinsky | Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —TD Bank will pay $3 billion to settle charges that it failed to properly monitor money laundering by drug cartels, regulators announced Thursday. TD also intends to pay $1.8 billion to the US Justice Department and plead guilty to resolve the US government’s investigation that the bank violated of the Bank Secrecy Act and allowed money laundering. The US Department of Justice said in a statement that TD Bank had “long-term, pervasive, and systemic deficiencies” in its procedures of monitoring transactions. TD Bank declined to comment on the fine, but the bank plans to hold a call with investors later on Thursday. TD Bank’s (TD) US-listed shares slumped 5% as investors brace for higher legal expenses and weaker growth.

Persons: FinCEN, TD Bank’s, ” John Aiken, “, Allen Stanford Organizations: New, New York CNN —, Bank, US Treasury Department’s, US Justice Department, US Department of Justice, Street Journal, TD Bank, Jefferies, ”, Justice, Treasury, CNN Locations: New York

☆ Hurricane Milton is headed right into $1.1 trillion worth of commercial real estate properties: Moody's
▼ + stars: | 2024-10-10 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +2 min

More than $1 trillion worth of property lies in Hurricane Milton's path, Moody's estimated. Hurricane Milton made landfall in Florida on Wednesday as a Category 3 hurricane. AdvertisementHurricane Milton made landfall in Florida on Wednesday as a Category 3 hurricane, and analysts estimate that $1.1 trillion worth of commercial property is set to be exposed to dangerous hurricane winds. This is the speed at which some property damage is likely, the Moody's report said. According to the report, the properties include 44,122 industrial spaces, 78,916 retail properties, 42,387 office buildings, 64,857 apartment buildings, and 5,056 hotels.

Persons: Hurricane Milton, —, Milton, Jefferies, Hurricane Helene, Helene Organizations: Service, Moody's, Hurricane Center Locations: Hurricane, Florida, Tampa, Ft Myers, Florida's Sarasota County, Milton

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Netflix, FedEx, Reddit, Broadcom, Chewy & more
▼ + stars: | 2024-10-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street: Citi initiates FedEx and UPS as buy Citi said in its initiation note that FedEx and UPS are well positioned. "Netflix remains a compelling growth story with significant room for revenue, earnings, and FCF growth over the next several years." Wells Fargo upgrades Valero to overweight from equal weight Wells said the company is one of the "best independent refiners." Mizuho reiterates Nvidia and Broadcom as outperform Mizuho said it's sticking with its outperform ratings on Nvidia and Broadcom. Wells Fargo reiterates Roblox as overweight Wells Fargo raised its price target on Roblox ahead of earnings in late October to $54 per share from $46.

Persons: underperform Jefferies, Guggenheim, TD Cowen, Cowen, Morgan Stanley, it's bullish, Piper Sandler downgrades Blackstone, Piper, Piper Sandler, Wells, Jefferies, Wolfe, VALE, Chewy, it's, Mizuho, Wells Fargo, Evercore Organizations: Citi, FedEx, UPS, Jefferies, Southwest, Deutsche Bank, Netflix, Deutsche, Inc, MetLife, Barclays, Apple, Apple Intelligence, New York Times, Industry, Nvidia, Broadcom, Mizuho, Lowe's Locations: Valero, underperform, Underperform

Meanwhile, Jefferies began coverage of Reddit with a buy rating and a price target of $90. Champine said the Federal Reserve lowering interest rates was a driving force for the price target changes. Analyst William Kerr initiated coverage of the pet ecommerce retailer with a buy rating and $38 price target. RBLX YTD mountain RBLX in 2024 — Alex Harring 5:50 a.m.: Citi says UPS is a buy Buy the dip on UPS shares, according to Citi. Analyst Ariel Rosa initiated the delivery giant with a buy rating and a price target of $162.

Persons: Jefferies, Laura Champine, Champine, Helene, Milton, Lowe's, — Alex Harring, Piper Sandler downgrades Blackstone Piper Sandler, Crispin Love, Love, Blackstone, Morgan Stanley, Sanjit Singh, Singh, Alex Harring, TD Cowen, William Kerr, Kerr, Benjamin Soff, Soff, Ken Gawrelski, Gawrelski, Roblox, Ariel Rosa, Rosa, — Fred Imbert, John Colantuoni, Colantuoni, EBITDA Organizations: CNBC, Wednesday, Citi, UPS, Capital, Federal Reserve, Blackstone, Industry, Deutsche Bank, New York Times, Amazon Logistics, Walmart Locations: Wells, China, Tuesday's

☆ Stocks making the biggest moves midday: Norwegian Cruise Line, Reddit, Chewy, Boeing and more
▼ + stars: | 2024-10-09 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Norwegian Cruise Line – Shares popped 10% on the heels of a Citi upgrade to buy from neutral. Citi said the company should see significant growth in earnings per share that can drive earnings upside and expand the margin. Reddit – The social forum stock gained close to 2% after Jefferies began coverage on the name with a buy rating. Helen of Troy – The housewares stock soared more than 19% after the company's second-quarter earnings beat Wall Street's expectations. Chewy – The pet product online retailer saw shares rising 3% after TD Cowen initiated coverage on the stock with a buy rating.

Persons: Jefferies, John Colantuoni, Rio, GitLab, Morgan Stanley, Helen of Troy –, Helen of Troy, FactSet, TD Cowen, Chewy, —, Alex Harring, Yun Li, Lisa Kailai Han, Jesse Pound Organizations: Cruise, Citi, Bayer – U.S, Washington Supreme, Sky Valley Education Center, Monsanto, Rio Tinto, Boeing –, Boeing, Department, Google Locations: Washington, Rio, U.S

☆ Owners of 'catastrophe bonds' are staring down big losses as Hurricane Milton barrels toward Florida
▼ + stars: | 2024-10-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Hurricane Milton may cause major losses for catastrophe bond investors. AdvertisementThe back-to-back barrage of Hurricanes Helene and Milton could trigger big losses for investors in catastrophe bonds. However, on the other hand, a strong hurricane can trigger various clauses within catastrophe bonds, resulting in big losses for investors. AdvertisementHowever, according to RBC, higher reinsurance rates implemented following Hurricane Ian could soften the blow for cat bond investors, depending on the severity of Hurricane Milton. The potential for massive damage caused by Hurricane Milton, which is considered to be a once-in-a-generation event, is also dragging down global reinsurer stocks.

Persons: Milton, —, Hurricanes Helene, Hurricane Ian, Hurricane Milton, Helene, Hurricane Organizations: Service, Hurricanes, Investors, Swiss Re, Hurricane, Jefferies, RBC, Cat, Swiss Locations: Florida, Hurricane, Artemis, Hurricane Milton, North Carolina, Munich

☆ Stocks making the biggest moves premarket: Boeing, Alphabet, Blackstone, GitLab and more
▼ + stars: | 2024-10-09 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Reddit — Shares rose more than 2% after Jefferies initiated research coverage with a buy rating and a Sreet-high price target. Rio Tinto , Arcadium Lithium — The two minerals stocks moved in opposite directions after the companies announced a deal for Rio Tinto to buy Arcadium for $5.85 per share. Shares of Rio Tinto dipped 1.2%, while shares of Arcadium surged 30%. GitLab — Shares rose 5% after Morgan Stanley initiated research coverage of the software stock with an overweight rating . Chewy — Shares rose nearly 2% after TD Cowen initiated research coverage of the pet products retailer with a buy rating.

Persons: Jefferies, Blackstone — Piper Sandler, Morgan Stanley, Sanjit Singh, Nio, TD Cowen, — CNBC's Sean Conlon, Lisa Han, Alex Harring, Jesse Pound, Hakyung Kim Organizations: Boeing, Department, Rio Tinto, Federal, Cruise, Citigroup, Citi Locations: Rio, Arcadium, Nio —

☆ Real AI smartphones are still a few years away, say Jefferies analysts
▼ + stars: | 2024-10-08 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

The iPhone 16 lacks new features and a new AI smartphone is years away, wrote analysts on Sunday. Much of the optimism surrounding Apple this year came from its June announcement of Apple Intelligence, the company's take on artificial intelligence. In Sunday's note, Lee forecasted "flattish volume growth" in the second half of 2024 for iPhone 16 compared to the iPhone 15, and only 2.5% growth in lifecycle volume for the iPhone 16. AdvertisementTo be sure, not all analysts think the delay in introducing Apple Intelligence will hurt the company. He said that he gives little credence to third-party reports of iPhone 16 sales.

Persons: Jefferies, —, Edison Lee, Siri, Lee, Gil Luria, Davidson Organizations: Service, Apple Intelligence, Bloomberg, D.A, Apple

☆ Stocks making the biggest moves midday: Nvidia, DocuSign, Alibaba, Las Vegas Sands and more
▼ + stars: | 2024-10-08 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

China stocks – U.S.-listed shares of Chinese companies fell after Beijing's economic planning agency failed to announce any new major stimulus plans . Online video company Bilibili fell 13%, while automaker Nio and Temu parent PDD tumbled about 6% each. Humana — Shares jumped 2.8% after Bernstein upgraded the beaten-down health insurance company to outperform, even though it substantially decreased its price target. Roblox — Shares fell 4% after Hindenburg Research disclosed a short position on the gaming platform, alleging the company inflated metrics. BTIG upgraded Affirm to buy , with analyst Vincent Caintic lauding the company's growth compared to traditional payment companies like American Express.

Persons: Bilibili, Nio, Young Liu, Blackwell, Bernstein, Roblox, David Byrnes, Byrnes, Jefferies, there's, BTIG, Vincent Caintic, CNBC's Michelle Fox, Hakyung Kim, Pia Singh, Sean Conlon, Alex Harring Organizations: U.S, Vegas Sands, Wynn Resorts, MDU Resources, Super, Nvidia, CNBC, Hindenburg Research, Waters, Jefferies, American Locations: China, Vegas, Macau

☆ Buy these stocks with a history of rising after posting earnings and revenue beats, per Wolfe Research
▼ + stars: | 2024-10-08 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Companies like Walmart and Apple could be among the most reliable plays during earnings season, according to Wolfe Research. The third-quarter earnings season is kicking off this week, with major consumer and financial names set to post their latest financial reports. The firm screened the S & P 500 for companies that have beat on the top- and bottom-lines with positive relative price action around their earnings reports over the past two quarters. His $89 price target on Walmart shares implies about 12.3% potential upside. Other stocks with strong performance around their earnings reports include cereal maker Kellanova , ON Semiconductor and Morgan Stanley .

Persons: Chris Senyek, Wolfe, Greg Badishkanian, Senyek, Apple, Morgan Stanley Organizations: Walmart, Apple, Wolfe Research, TJX Companies, Big Tech, Jefferies, ON Semiconductor

☆ S&P places Boeing on 'creditwatch negative' on strike-related financial risk
▼ + stars: | 2024-10-08 | 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 EmailS&P places Boeing on 'creditwatch negative' on strike-related financial riskSheila Kahyaoglu, Jefferies analyst, joins 'Closing Bell Overtime' to talk Boeing's recent slate of troubles and what it means for the stock.

Persons: Sheila Kahyaoglu Organizations: Boeing, Jefferies

☆ Hurricane Milton could cause as much as $175 billion in damage, according to early estimates
▼ + stars: | 2024-10-08 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Heavy traffic begins to back up on Interstate 275 South as residents evacuate St. Petersburg, Florida, ahead of Hurricane Milton, U.S., October 7, 2024. Hurricane Milton's once-in-a-century potential could cause damage of more than $50 billion, with the potential to leave behind devastation approaching $175 billion or more in a worst-case scenario, according to leading Wall Street analysts. That would be on top of the carnage already left behind by Hurricane Helene, posing a potential record-breaking path of wreckage. "A 1-in-100 year event is estimated by some to result in $175 [billion] in losses for landfall in the Tampa region, and $70 [billion] in losses in the [Fort] Myers region." The extent of the potential is hard to pin down and will depend on timing and location, with a landfall closer to Fort Myers being less costly.

Persons: Hurricane Milton's, Hurricane Helene, Jefferies, Yaron Kinar, Myers, Fort Myers, Hurricane Ian, Ian Organizations: Hurricane, Street Locations: St, Petersburg , Florida, Hurricane Milton, U.S, Tampa, Fort Myers

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Amazon, Netflix, Campbell Soup, Gilead, American Express & more
▼ + stars: | 2024-10-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Wells Fargo upgrades Gilead to overweight from equal weight Wells says the biopharma company has an attractive setup. Wells Fargo upgrades Canadian National to overweight from equal weight Wells says it sees "accelerating growth" for the railway company. Barclays downgrades Netflix to underweight from equal weight Barclay says the "growth algorithm is getting more complex." Wells Fargo downgrades Amazon to equal weight from overweight Wells says the "positive revision story [is] on pause for Amazon. JPMorgan upgrades Ally Financial to overweight from neutral and downgrades American Express to neutral from overweight JPMorgan downgraded American Express and says it sees "asymmetric risk."

Persons: Jefferies, Wells, Morgan Stanley, it's bullish, Barclay, NFLX, Piper Sandler, Piper, Mizuho, JPMorgan downgrades Lamb Weston, JPMorgan, downgrades Sherwin, Williams, KeyBanc, Bernstein, Campbell, underperform Bernstein, Coupang, CPNG, Barclays downgrades, Avery Dennison, Garmin, Hershey Organizations: Apple, Apple Intelligence LT, UW, Vertiv Holdings, Coty, Barclays, Netflix, MKSI, Mizuho, JPMorgan, Deutsche Bank, Alliance, Deutsche, UBS, NXP, Express, American Express, Barclays downgrades DuPont, DuPont, Bank of America downgrades Constellation Brands, Bank of America, Constellation Brands, Bank of America downgrades Comerica, of America, CMA, Air Products, Hershey Locations: OW, Gilead, Canada, underperform

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