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☆ Stocks making the biggest moves premarket: Qualcomm, Merck, General Motors and more
▼ + stars: | 2024-02-01 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

The stock is trading at a low multiple compared to spending, the firm highlighted as a key catalyst for investors. Nextracker — Shares of the solar technology company jumped 17% on bullish analyst notes following its strong quarterly results and guidance increase. Wolfspeed guided for fiscal third-quarter revenue of $185 million to $215 million, below the $224 million, LSEG estimate. Robinson reported 50 cents per share in adjusted earnings, while analysts expected 81 cents per share, per LSEG. The company reported $9.44 billion in revenue, while analysts surveyed by LSEG were looking for $9.70 billion.

Persons: Christopher Danely, Morgan Stanley, Nextracker, Wolfspeed, TD Cowen, ChargePoint, C.H, Robinson, Merck, company's, —, Alex Harring, Lisa Kailai Han, Tanaya Macheel, Jesse Pound, Michelle Fox Theobald Organizations: Qualcomm, Citi, General Motors, General, Barclays, Bank of America, Revenue, Merck, Japanese, Honeywell, LSEG, Norfolk Southern, Ancora Holdings, Wall Street Journal Locations: Norfolk Southern

☆ 10 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-01-27 | by ( Zev Fima | ) www.cnbc.com time to read: +16 min

All three major averages posted gains for the third consecutive week, lifted by solid quarterly earnings and positive economic data. Earnings season ramps up next week, with five of the Super Six mega-cap stocks delivering results. Employment numbers are the most important economic data, with Friday's January nonfarm payrolls report carrying the most weight. The January ISM Manufacturing report on Thursday and December's factory orders report Friday are expected to show the sector still in contraction mode. But earnings and commentary this week from peer Sartorious made us encouraged about a return to growth in 2024.

Persons: nonfarm, December's, Sartorious, We've, Stanley Black, Decker, We're, We'd, Royal Philips, Crane, Woodward, ServisFirst, Cadence Bancorporation, CADE, Johnson, Phillips, Avery Dennison, Columbus McKinnon, Robinson, SIRI, Cardinal Health, Parker, DOV, Pitney Bowes, Ferrari N.V, CSW, COLM, W.W, Grainger, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Gross, Procter, Gamble, Gillette, Super, Consumer, JPM Healthcare, Amazon, Microsoft, Honeywell, Aerospace, Solutions, Apple Watch, Masimo, Vision Pro, Franklin Resources, Resource Partners, Bank of Marin Bancorp, Bank7 Corp, Pacific Premier Bancorp Inc, Provident Financial Holdings, Dynex, Cliffs Inc, Nucor Corp, Whirlpool Corp, F5 Networks, Capital Southwest Corp, Harbors Investment Corp, Crane Co, Payne, Equity, Heartland Financial, Cadence, FinWise Bancorp, Five Star Bancorp, PotlatchDeltic Corporation, Sanmina Corporation, Pfizer, General Motors Corp, United Parcel Service, JetBlue Airways Corporation, Smith Corp, Marathon Petroleum Corp, HCA Healthcare, Oshkosh Corporation, SYSCO Corp, Danaher Corp, Johnson Controls, M.D.C . Holdings, Commvault Systems Inc, Hope Bancorp, Hubbell Incorporated, Malibu Boats, Polaris Industries, Inc, Camden National Corp, Cambridge Bancorp, Microsoft Corp, Starbucks Corp, Devices, Electronic Arts Inc, Juniper Networks, Stryker Corp, Lending, Canadian, Canadian Pacific Kansas City Limited, Mondelez, Chubb Corporation, Modine Manufacturing, Partners, Management, Hawaiian Holdings, Manhattan Associates, Unum Group, UNM, Axos, Enova, Boston Properties, Boeing Co, Novo Nordisk, Mastercard Inc, Roper Technologies, Boston Scientific Corporation, MarketAxess Holdings, Fisher, Aptiv PLC, Hess Corp, Nasdaq, United Microelectronics Corp, Rockwell Automation, Teva Pharmaceutical Industries, Ltd, Avery, Avery Dennison Corp, Extreme Networks, Otis Worldwide Corporation, OTIS, Columbus, Columbus McKinnon Corp, Central Pacific Financial Corp, Brinker International, Fortive Corporation, Qualcomm, Technology, Metlife, Hanover Insurance, Barn Holdings, CONMED Corporation, DLH Holdings Corp, Meritage Homes Corporation, Honeywell International, Eaton Corp, Altria, Royal Caribbean Cruises Ltd, Merck, Co, Enterprise Products Partners, Dorian LPG, SiriusXM Holdings, Cardinal, Hannifin Corporation, Allegheny Technologies Incorporated, Tractor Supply Company, Trane Technologies, Dover Corp, Huntington Ingalls Industries, Brunswick Corporation, Dickinson, Canada Goose Holdings, Kirby Corp, WEC Energy Group, WestRock Company, Allegro MicroSystems, Ball Corporation, Broadridge Financial, BrightSphere Investment Group, CMS Energy Corp, Lancaster Colony Corp, Rogers Communications Inc, Sanofi, Apple, Atlassian Corporation, United States Steel Corp, Corp, Adtalem Global, Homes, DXC Technology Company, Eastman Chemical Company, Gen, Post Holdings, America, Columbia Sportswear Company, Exxon Mobil Corp, Chevron Corporation, Myers Squibb Co, CIGNA Corp, Regeneron Pharmaceuticals, Charter Communications, AON, Cboe, Dwight, Banco Santander, Jim Cramer's Charitable, CNBC, Apple Vision, Getty Locations: China, East, United States, Europe, Cleveland, Alexandria, California, Corning, Canadian Pacific, Teradyne, TER, Novo, Hanover, PBI, Skechers U.S.A, Bristol, Chile

☆ Goldman says this solar tech stock can surge nearly 50%
▼ + stars: | 2024-01-16 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

The investment bank initiated coverage of the solar technology company with a buy rating, simultaneously setting a 12-month price target of $62. Nextracker is the world's largest supplier of solar trackers, devices that optimize solar panels by tracking the sun's path. The company's shares have fallen nearly 10% in 2024 after Nextracker completed its spinoff from Flex on Jan. 2. "We note that the value of the credits [for solar trackers] are actually among the most lucrative across all solar components," wrote Goldman Sachs analyst Brian Lee. "The [total addressable market] for solar trackers globally amounts to approximately close to 5X the size of the U.S. market, with a penetration of ~20%-30% (vs. ~80% in the U.S.)."

Persons: Goldman Sachs, Nextracker, Goldman, Brian Lee, Lee, — CNBC's Michael Bloom Organizations: Nextracker, Flex, NXT Locations: U.S

☆ Here are the top 5 ‘best in class’ stocks coming out of earnings, Bank of America says
▼ + stars: | 2023-11-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Analysts at Bank of America unveiled a slew of stocks this week that they say are firing on all cylinders as earnings season wraps up. "SLB looks best positioned for strong earnings growth and multiple expansion with strengthening [free cash flow] in 2024-25," Pant wrote. SLB - buy rating "Current cycle is to SLB's advantages in technology & INTL. KLA Corporation - buy rating Resilient growth, best in class cash flow generation, reiterate Buy. Nextracker - buy rating Three earnings post IPO comes with three sequential beat & raise events & we believe there is room for several more.

Persons: Saurabh Pant, Pant, Julien Dumoulin, Smith, Nextracker, Vivek Arya, Arya, SLB Organizations: Bank of America, CNBC, General Dynamics, Ford, KLA Corporation, drillers, NXT, KLA Corp, Dynamics, Aero Locations: Nextracker, Pant

☆ Here are Thursday's biggest analyst calls: Meta, Apple, Microsoft, Live Nation, Adobe, Disney & more
▼ + stars: | 2023-10-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Bank of America reiterates Meta as buy Bank of America said it's standing by its buy rating after Meta's earnings report on Wednesday. Goldman Sachs reiterates ServiceNow as buy Goldman said it's standing by its buy rating on the stock after Wednesday's robust earnings report. "We are upgrading Adobe to a BUY rating and adding it to D.A. Bank of America initiates Paycom as buy Bank of America said it's bullish on the "fast growth" payroll and human resources company. "We are initiating coverage of Paycom with a Buy rating and $330 PO, implying upside of 30%.

Persons: Evercore, Piper Sandler, Apple, Piper, Goldman Sachs, ServiceNow, Goldman, Davidson, DA, Davidson's, Key, Oppenheimer, Cantor Fitzgerald, Cantor, Silver Lake, it's bullish, Redburn, Jefferies Organizations: Bank of America, Meta, Mac, TAM, Adobe, HSBC, Microsoft, Bank of America downgrades, Networks, of America, NASDAQ, Citi, Endeavor, Disney, Body, Northland Locations: China, Northland, Nextracker

☆ Stocks making the biggest moves midday: Merck, Bristol-Myers Squibb, Align Technology and more
▼ + stars: | 2023-10-26 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

UPS — The shipping company saw shares decline 5.9% after releasing its third-quarter earnings report, which showed disappointing revenue. Full-year revenue guidance was also slightly below expectations. Whirlpool — The home appliance company dropped 15.8% on Thursday after Whirlpool issued full year earnings guidance of about $16 per share. Bristol-Myers Squibb — Shares of the drug maker fell 6.2% after the company reported a decline in sales of its popular blood cancer drug, Revlimid, citing generic competition. ServiceNow — The workflow software company jumped 1.6% after posting third-quarter earnings and revenue that beat analyst expectations.

Persons: LSEG, Merck —, Merck, Steven Vondran, Thomas Bartlett, ServiceNow, —, Alex Harring, Yun Li, Lisa Kailai Han, Tanaya, Hakyung Kim Organizations: Bunge —, Comcast, UPS, Hasbro, Whirlpool, Bristol, Myers, Merck, Technology, American Tower Corporation, Flex, IBM —, Wall, CNBC Locations: NBCUniversal, American

☆ Stocks making the biggest moves before the bell: Hasbro, Southwest, Hershey, Royal Caribbean and more
▼ + stars: | 2023-10-26 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Hasbro earned $1.64 per share excluding items on $1.5 billion in revenue, while analysts polled by LSEG had anticipated $1.70 per share in earnings and revenue at $1.64 billion. Southwest posted $6.53 billion in revenue, while analysts surveyed by LSEG expected $6.57 billion. Bristol-Myers topped earnings expectations and posted revenue that was in line with expectations. ServiceNow — The software stock rose more than 3% after posting stronger-than-expected quarterly results and sharing solid subscription revenue expectations for the current period. UPS – The shipping company saw shares decline 3% premarket following its third quarter earnings report.

Persons: LSEG, Revlimid, Myers, Overstock.com, Hershey, overshadowing, Mattel —, ServiceNow, it's, Silver Lake, —, Sarah Min, Tanaya Macheel, Samantha Subin, Lisa Kailai Han, David Paul Morris Organizations: Hasbro, Southwest —, Southwest, Myers, Bristol, Overstock.com, FactSet, Royal Caribbean, Mattel, Wednesday, UPS, Endeavor Group Holdings, Endeavor, Holdings, WWE, UFC, Barclays —, Bank of America, Barclays, underperform, Hasbro Inc, Target Corp, Bloomberg, Getty Locations: Bristol, Nextracker, FactSet, Thursday's premarket, Emeryville , California, U.S

☆ Higher rates are killing the clean energy stocks — BofA says these are worth buying
▼ + stars: | 2023-10-05 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

There's still value to be found among renewable energy stocks despite a rout, according to Bank of America. Leading renewable stock NextEra Energy Partners trimmed its growth forecast earlier this week, sparking a sell-off in the cleantech sector that has lasted for several days. Its stock tumbled about 27% so far this week, while its parent NextEra Energy is down 15% during the same period. BofA analyst Julien Dumoulin-Smith said the event has caused a "collapse in confidence" in NextEra and stoked fears that higher rates will dampen demand for renewable energy projects. ConEd stock has slipped about 12% from the start of the year, while shares of Array are down nearly 2%.

Persons: Julien Dumoulin, Smith, BofA, ConEd, — CNBC's Michael Bloom Organizations: Bank of America, Energy Partners, Energy, PPA, Utilities, NextEra Energy, Technologies, Consolidated Edison, NXT, ConEd Locations: NextEra, Dumoulin

☆ JPMorgan says interest in solar energy for homes remains high so buy these stocks for the long term
▼ + stars: | 2023-09-07 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

There could be better-than-expected uptake in residential solar energy — and that can mean good news for some stocks in the space, according to JPMorgan. "We believe the survey results signal that homeowner interest for adding residential solar systems is stronger than currently low investor sentiment and recent under performance of residential solar stocks indicates," he said. Long-term investors can find value in high-quality residential solar as the market gains favor over time, he said. He pointed to Sunrun , Sunnova , Enphase and Solaredge as good picks in the area. Ultimately, the survey showed that homeowners interested in solar will likely install it, but it may not be a near-term decision.

Persons: Mark Strouse, That's, Strouse, — CNBC's Gina Francolla, Michael Bloom Organizations: JPMorgan, Analysts, Technologies, Shoals Technologies

☆ Here are Credit Suisse's top picks for August, including healthcare and tech stocks
▼ + stars: | 2023-08-06 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Credit Suisse refreshed its "top of the crop" stock picks for August, betting on some big-name stocks as investors continue to feed the markets with optimism. Credit Suisse recently highlighted several stocks the bank's analysts think can outperform this month. "It is increasingly clear that greater service levels in the form of faster delivery is leading to consumers assigning a higher value to Prime" memberships, Credit Suisse said. Credit Suisse also named electronics manufacturer Flex Ltd. as a top pick. Credit Suisse assigned a $126 price target on Merck, which implies 20% appreciation from Friday's closing price.

Persons: Stocks, Stephen Ju, Amazon's, Ju, Shannon Cross, Flex, Cross, Trung Huynh, Merck, — CNBC's Michael Bloom Organizations: Suisse, Credit Suisse, Amazon, Flex, Merck, Prometheus Biosciences

☆ As interest rates stay higher for longer, these home improvement stocks can navigate consumer trends
▼ + stars: | 2023-06-09 | by ( Alex Harring | ) www.cnbc.com time to read: +10 min

Investors are hoping that next week's Federal Reserve meeting offers more clarity about the path interest rates could take. Rising interest rates squeeze consumers, while a cut to follow should help boost economic activity. These pricey purchases are often financed, and higher rates mean higher costs. "Even if the sticker price of the thing doesn't change, the interest rate still matters a lot for their monthly budget." The "brakes were hit very hard in 2022," largely due to higher rates on the new-home construction side, he said.

Persons: Christopher Herrington, Herrington, Kurt Yinger, It's, James Hardie, Yinger, There's, Rafe Jadrosich, Jadrosich, Seth Sigman, Bank of America's Curtis Nagle, Nagle, Loop's Anthony Chukumba, Garik Shmois, Shmois, Leslie's, Julien Dumoulin, Smith, SunRun, Corinne Blanchard, Citi's Pierre Lau, SolarEdge, Lau, John Bailer, Michael Bloom Organizations: Virginia Commonwealth University, Davidson, Companies, Bank of America, Fortune Brands, UFP Industries, Barclays, Bank of America's, Williams, Pool Corp, of America, FTC, Deutsche Bank, Shoals Technologies, Caterpillar, Cummins, Newton Investment Management Locations: Louisiana, Wall, Sonoma, California

Despite a rebound in fundraising and block trading activity, year-to-date IPO volumes came in at their lowest level since 2019. Equity capital markets (ECM) advisers, however, are optimistic of a recovery in listing activity in the latter part of the year. In the United States, IPO volumes jumped more than 50% from the fourth quarter of 2022, but were still 11% down from the same period last year. IPOs briefly flickered back to life in February, as companies including solar tech firm Nextracker (NXT.O) and Chinese sensor maker Hesai Group (HSAI.O) pushed ahead with their listings. RECOVERY DELAYEDIn Europe, investment bankers said the market volatility spurred by the banking crisis is likely to affect the pipeline of deals.

Solar-solutions company Nextracker is a market leader in both technology and share, according to Bank of America. Analyst Julien Dumoulin-Smith upgraded Nextracker to buy from neutral. Dumoulin-Smith also raised his price target for the company's shares to $40 from $36, implying 23% upside from Tuesday's close price. He raised his estimates as he anticipates Nextracker receiving credits from the Inflation Reduction Act. NXT 3M mountain Nextracker stock More specifically, Dumoulin-Smith said that Nextracker is on track for an upward trajectory in 2023 as project deliveries accelerate.

☆ Atlas Energy valued at $1.75 billion after shares fall in U.S. debut
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +1 min

March 9 (Reuters) - Shares of Atlas Energy Solutions Inc (AESI.N) fell nearly 3% in their U.S. market debut on Thursday, valuing the oilfield services firm at $1.75 billion. The Austin, Texas-based company's shares opened at $17.5, below its initial public offering price of $18 a share. Atlas raised $324 million in its IPO on Wednesday after it sold 18 million shares at $18 apiece, below a range of $20 to $23 set earlier. Reuters was the first to report last year that Atlas was preparing for an IPO which could value the company at $2 billion to $3 billion. Calgary-based energy company Greenfire Resources and clean energy producer NET Power plan to merge with blank-check companies to go public in the United States.

Arm is expected to confidentially submit paperwork for its initial public offering in late April, the sources said, speaking on condition of anonymity because the discussions are confidential. The listing is expected to happen later this year and the exact timing will be determined by market conditions, the sources added. SoftBank has picked four investment banks to lead what is expected to be the most high-profile stock market flotation in recent years. The preparations for the IPO are expected to be kick-started in the U.S. in the coming days, the sources said. The valuation range has not yet been finalized but Cambridge, England-based Arm is hoping to be valued at more than $50 billion during its share sale, the sources said.

☆ U.S. IPO pick-up offers hope of market re-open
▼ + stars: | 2023-02-20 | by ( Echo Wang | ) www.reuters.com time to read: +3 min

A year after Russia's invasion of Ukraine and an inflation rally fueled a bout of market volatility that prevented most initial public offerings in 2022, last week saw a flurry of listings. In total, the IPOs raised about $1.17 billion in proceeds, up sixfold from the previous week when stock market debuts raised about $193 million, according to Dealogic. We see this as step one in a broader IPO market recovery, with some of the stronger sectors leading the early supply," said Rob Stowe, co-head of Americas equity capital markets at Barclays Plc (BARC.L). Some companies are waiting for a sustained IPO recovery before deciding to pull the trigger for their debut, some of the advisers said. That will likely take at least until the summer if the market recovery continues, they added.

Feb 8 (Reuters) - Shares of solar-tracking business Nextracker Inc soared 26% in their U.S. market debut on Thursday, suggesting that the IPO market was showing signs of emerging from a prolonged freeze. "It's yet another sign that the 2023 IPO market is thawing. So it's a breath of fresh air," said Matthew Kennedy, senior IPO market strategist at Renaissance Capital. Nextracker raised $638 million from 26.6 million shares in its IPO on Wednesday, higher than its original plan of $534.9 million. Founded in 2013 by Chief Executive Officer Dan Shugar, Nextracker provides solar tracker and software solutions for solar power plants.

☆ Solar tech firm Nextracker raises $638 mln in upsized U.S. IPO
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

Feb 8 (Reuters) - Solar technology firm Nextracker raised $638 million in its U.S. IPO, pricing it slightly higher than its indicated target range, parent company Flex Ltd (FLEX.O) said in a statement on Wednesday, adding that the number of shares sold was increased. Nextracker sold 26.6 million shares of its Class A common stock at $24 apiece, according to the statement, giving the Fremont, California-based company a valuation of over $3.5 billion. This comes at the upper-end of their indicated range of $20 to $23 per share. The decision to increase the deal size comes at a challenging time for the U.S. IPO market, where activity has come to a standstill due to heightened volatility in a rising interest rate environment. Nextracker has also granted the underwriters an option to purchase up to about additional 4 million shares, it added.

☆ Wall Street’s frozen IPO market is thawing as companies take advantage of stock rally
▼ + stars: | 2023-02-09 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange on Wall Street in New York City. Wall Street just pulled off its biggest IPO in four months, giving bankers hope that the market for newly-listed company shares is stirring to life. The solar technology firm Nextracker raised $638 million by selling about 15% more shares than expected, sources told CNBC Wednesday. Wall Street's so-called IPO window, which allows companies to readily tap investors for new stock, has been mostly shut for the past year. "The window seems like it's cracked open right now," Wise told CNBC in a phone interview.

☆ Solar tech company Nextracker expected to price at upper end of range in good sign for IPO market
▼ + stars: | 2023-02-08 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

The solar technology company Nextracker is expected to price its initial public offering at the high end of its stated $20 to $23 per share range, people with knowledge of the process told CNBC. The development is a good sign for the moribund IPO market. Proceeds from public listings fell 94% last year after the Federal Reserve began its most aggressive rate-increasing campaign in decades. Investors soured on the shares of unprofitable tech companies in particular, many of which are still underwater after listing in 2020 and 2021. Nextracker is set to begin trading on the Nasdaq exchange Thursday morning, according to one of the people.

Despite layoff announcements and signs of a slowdown elsewhere in the economy, the labor market for clean energy jobs remains tight. said Abigail Ross Hopper, president of the Solar Energy Industries Association trade group. The Biden Administration has repeatedly promised that new green energy jobs would be well-paying union jobs. Some solar companies have tried to recruit veterans, saying the skills learned in military life translate well to the industry. Utility scale solar developer SOLV Energy, SunPower and Nextracker last year teamed up with nonprofit Solar Energy International to fund a women-only training program for solar installers.

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