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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
Delta Air Lines – Shares fell nearly 5% after the airliner provided disappointing fourth-quarter revenue guidance . Delta anticipates revenue will rise between 2% and 4% from a year earlier, less than the 4.1% estimate, per LSEG. CVS Health – Shares of the pharmacy chain added 1.9% on the back on an upgrade to overweight from equal weight by Barclays. Specifically, the investment firm noted that the brand's share of mentions as a favorite is about 35% more than its overall market share. PayPal – The payments company fell 1.7% after Bernstein downgraded the stock to market perform from outperform.
Persons: Serge Saxonov, there's, Piper Sandler, Tesla, Bernstein, , Alex Harring, Jesse Pound, Sarah Min, Pia Singh, Michelle Fox Theobald Organizations: Delta Air Lines, CVS, Barclays, GXO Logistics, Bloomberg, Logistics, Nike –, RBC Capital Markets, American, Group, JPMorgan, PayPal Locations: Americas
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. The latest iteration of Piper Sandler's teen survey found somewhat lukewarm interest in Apple 's new iPhone 16. 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, that's, Piper, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Dow Jones, Department of Justice, Google, Apple, Apple Intelligence, Analysts, Depot
Earnings season is right around the corner, and there are some stocks investors should be wary of, according to Piper Sandler. The season unofficially kicks off this week, with JPMorgan's third-quarter results due Friday before the bell, and it ramps up from there. The remaining four have a strong buy or buy rating. The department store chain is set to report its quarterly results in November. By contrast, only two have a strong buy or buy rating.
Persons: Piper Sandler, they've, Paramount's, Skydance, Nordstrom, it's, Piper, Organizations: Dow Jones, Federal Reserve, Paramount Global, Warner Bros, Paramount, GameStop, Southwest Airlines, Southwest Locations: U.S, GME
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 —
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
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
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Retail Trade: Nike still #1 shoe brand for teens according to Piper SandlerPiper Sandler out with a survey today saying Nike is still the #1 shoe brand for teens. The Investment Committee debate the retail trade.
Persons: Piper Sandler Piper Sandler Organizations: Trade, Nike
Hasan Akbas | Anadolu | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. October, then, is truly living up to its reputation as the most volatile month for stocks. But investors should keep in mind the uncomfortable swings in markets aren't always a good signal for the underlying health of stocks. In fact, when stocks dip because of mild repricing or a correction, that's a good opportunity for investors to swoop in, according to Johnson.
Persons: SPX, Hasan Akbas, Robert Sluymer, Piper Sandler, Craig Johnson, Johnson, – CNBC's Hakyung Kim, Samantha Subin, Alex Harring Organizations: Anadolu, Getty, CNBC, Nasdaq, Nvidia, Palo Alto Networks, Meta, Dow Jones, RBC Wealth Management Locations: Alaska, United States, U.S, aren't
Instagram is the most used app among US teens, a new Piper Sandler survey found. The analysts found that 87% of teens said they used Instagram at least once a month. AdvertisementTikTok was the second most used social app, with 79% saying they used it monthly compared to 74% a year ago. Pinterest (41%), Twitter (30%), and Facebook (30%) rounded out the bottom in terms of monthly usage this fall. Related storiesBut while Instagram may have won the usage contest among US teens, TikTok was the most liked.
Persons: Instagram, Piper Sandler, TikTok, Snapchat, , Adam Mosseri, Harry Stebbing's 20VC, Piper Sandler's, Meta Organizations: Service, Piper, Twitter, Facebook, Meta, DMs, Snapchat, Big Tech
How Hurricane Milton could overhaul insurance in Florida
  + stars: | 2024-10-09 | 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 EmailHow Hurricane Milton could overhaul insurance in FloridaPaul Newsome, senior research analyst at Piper Sandler, joins CNBC's 'Squawk on the Street' to discuss Hurricane Milton's projected economic impact, how it will change insurance prices and coverage in the area, and more.
Persons: Milton, Florida Paul Newsome, Piper Sandler Organizations: Hurricane Locations: Florida
The Justice Department's proposals included "behavioral and structural remedies" that would prevent Google from using its products against its rivals. GOOGL YTD mountain Google shares in 2024 Overall, Alphabet shares likely won't change much on the DOJ's initial framework in the short term, according to JPMorgan. The myriad of potential outcomes for Google means there isn't much near-term clarity for the stock. Indeed, Alphabet shares are up 15% in 2024, versus S & P 500's 21% gain. The bigger catalyst for Alphabet shares is the company's opportunity to further reduce its headcount and save on costs, analyst Thomas Champion wrote in a Sept. 30 research note.
Persons: Doug Anmuth, Anmuth, JPMorgan's Anmuth, Craig Moffett, Moffett, Piper Sandler, Thomas Champion, — CNBC's Jennifer Elias, Michael Bloom Organizations: Justice, Google, DOJ, JPMorgan, Meta Locations: U.S
Piper Sandler said Hurricane Milton could change the insurance market. Piper Sandler said Milton shares similarities with Ian, which resulted in $56 billion in insured losses. "Historically, insurance stocks fall as the hurricane approaches landfall and as it creates damage. Below is a table of estimated insured losses from insurance companies from Hurricane Ian. "The typical rebound in the insurance stocks happens when it becomes clear how large the insurance event was (or was not).
Persons: Piper Sandler, Milton, Paul Newsome, Hurricane Ian —, Newsome, Ian, LSEG, Chubb, — CNBC's Michael Bloom Organizations: Hurricane Ian, Allstate, American International Group, Heritage Insurance, Progressive, Universal Insurance Holdings, Travelers Locations: Florida, Milton, Hurricane, Newsome
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCalls of the Day: Netflix, NXP Semi, American Express and Charles SchwabThe Investment Committee debate the latest Calls Of The Day, including Netflix, where a Street Fight is brewing between Piper Sandler and Barclays.
Persons: Charles Schwab, Piper Sandler Organizations: Netflix, American Express, Barclays
CNBC's Jim Cramer on Monday explained why he's staying optimistic on Netflix , examining the bull and bear cases for the streamer by reviewing two recent analyst notes. Cramer compared reports from analysts at Barclays , who downgraded Netflix, and Piper Sandler , who upgraded the stock. According to the team at Barclays, Netflix may have trouble meeting its earnings goals, and the company's "growth algorithm will come with tradeoffs." And even if the streaming giant hits revenue targets, the analysts said Netflix's valuation assumes it can double its subscriber base, which "seems unrealistic." The analysts said Netflix can grow its subscriber base and has pricing power, adding that they're optimistic on the streamer's advertising potential.
Persons: CNBC's Jim Cramer, he's, , Cramer, Piper Sandler Organizations: Netflix, Barclays
Sam's ClubGRAPEVINE, Texas — When shoppers walk into Sam's Club's newest store, they'll soon see a shiny blue Mercedes-Benz SUV, a sectional sofa and zero checkout lanes. Sam's ClubSince Walmart's founder Sam Walton opened the first Sam's Club in 1983, the membership-based club has become the more tech-savvy arm of its retail-behemoth parent. Nicholas said upon its reopening, the location will become a testing ground for Sam's Club's newest features and emerging technology. Sam's Club and Costco have roughly the same number of U.S. clubs, but Costco pulls in about twice as much annual revenue. Sam's Club also opened The Clubhouse in August, an approximately 37,000-square-foot office building across from the retailer's headquarters in Bentonville, Arkansas.
Persons: they'll, Chris Nicholas, Sam Walton, It's, Nicholas, you've, Peter Keith, Piper Sandler, Organizations: Benz, Walmart, Sam's Club, Club, Costco, Sam's, Costco Costco, Costco's U.S Locations: Dallas, GRAPEVINE , Texas, Bentonville , Arkansas, U.S, Grapevine
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
It has a price target of $68, implying more than 1% downside from Friday's close. — Sean Conlon 5:41 a.m.: Jefferies downgrades Apple Oversized expectations for the iPhone could hurt of Apple lower, according to Jefferies. Analyst Edison Lee downgraded the stock to hold from buy, and his price target of $212.92 implies more than 6% downside from Friday's close. His price target of $800, up from $650, implies upside of 11.2% from Friday's close. He kept his $550 price target unchanged, implying downside of more than 23%.
Persons: Piper Sandler, Jefferies, Bernard von, Gizycki, — Sean Conlon, Wells, Ken Gawrelski, Fred Imbert, JPMorgan downgrades Lamb Weston, Lamb Weston, Ken Goldman, Goldman, Edison Lee, Lee, Matt Farrell, Farrell, Kannan Venkateshwar Organizations: CNBC, Netflix, Apple, Alliance, Western Alliance, Deutsche Bank, WAL, Amazon, North America Retail, JPMorgan, U.S, Jefferies, AP, Barclays Locations: Wells Fargo, Europe, Friday's
The Middle East is anticipating strikes on the anniversary of the October 7 terror attacks. Israeli offensives have targeted several Middle Eastern regions, including Gaza, Lebanon, and Syria. AdvertisementThe Middle East is on high alert for military strikes timed to coincide with the first anniversary of the October 7 terror attacks on Israel. AdvertisementThere are fears the conflict could escalate into a full-blown war in the Middle East. AdvertisementIn June, the IMF said that the long-term economic effects of conflict on real GDP per capita in the Middle East would be particularly severe.
Persons: , Yuval Baron, Keith Siegel, Adm, Daniel Hagari, Israel, Khader Ali Tawil, Kfar Yuval, Georgios Petropoulos, Jake Oubina, Piper Sandler Organizations: Service, Gaza Health Ministry, Reuters, Military, UN Humanitarian Affairs, CNN, Hamas, Health Ministry, BBC, Bank of Israel, Fox Business Locations: Gaza, Lebanon, Syria, Haifa, Israel, Iran, Tiberias, Beirut, Kfar, suboffice, Rafah, Yemen
Israel is intensifying strikes on Lebanon in an attempt to dismantle Hezbollah's command. Israel also blocked a major road near Lebanon's Masnaa border crossing with Syria, a report said. AdvertisementIsrael carried out air strikes in the Lebanese capital of Beirut on Friday as it stepped up its efforts to dismantle Hezbollah's leadership. According to The New York Times, citing Israeli officials, Israel targeted Hashem Safieddine, the rumored successor of Hezbollah's assassinated leader, Hassan Nasrallah. Related storiesThere are now growing fears that the conflict could transform into a full-blown war in the Middle East.
Persons: Hashem Safieddine, Hezbollah's, Israel, , Hassan Nasrallah, Safieddine, Mohammad Rashid Sakafi, Adraee, Avichay Adraee, Joe Biden, Jake Oubina, Piper Sandler Organizations: Service, The New York Times, National News Agency, Israel Defence Forces, The Guardian, Brent, US West Texas, Reuters, Fox Business Locations: Israel, Lebanon, Lebanon's, Syria, Beirut, Beirut's, Gaza, Tehran
October is off to a rocky start, but a strong period of seasonality is only just beginning – particularly for select dividend-paying stocks, Bespoke Investment Group found. Dividend-paying stocks have been especially strong when it comes to fourth-quarter returns over the past 10 years, Bespoke found. In addition to having seasonality in their favor, dividend stocks are also expected to benefit from the Federal Reserve's interest rate cutting cycle. Tapestry also has a dividend yield of 3%. The stock has a total return of more than 21% in 2024, as well as a dividend yield of nearly 5%.
Persons: Matthew Boss, Tabby, Boss, Coach's, it's, Piper Sandler, Scott Siefers, Siefers, Wells, Michael Brown, Brown, Lamb Weston Organizations: Investment, New, JPMorgan, BlackRock, JPMorgan Chase, Bank of America Locations: Brooklyn, BlackRock, Wells Fargo
Global stocks dipped again on Thursday, while oil prices rose further as markets braced for a wider regional war in the Middle East. "He has been advocating for hitting Iran and for the United States to target Iran. There are several potential targets Netanyahu may be considering:Iran's oil facilitiesOne target could be Iran's oil production facilities. Oil prices spiked for a third day on Thursday, fueled by speculation that the growing conflict could limit production. With oil prices rising, there are fears that the industrial recession the US economy is experiencing could snowball into a full-fledged downturn.
Persons: , Benjamin Netanyahu, Netanyahu's, Netanyahu, Sen, Lindsey Graham of, Biden, Piper Sandler, Jake Oubina, Axios, Beni Sabti, Ayatollah Ali Khamenei, Chris Doyle, Naftali Bennett, Bennett, Gen Herzi Halevi, Farzan, Sabet, Israel's Organizations: Service, Experts, Central, Politics, Deakin University, Iran, Financial Times, Reuters, Brent, West Texas, Fox Business, Institute of National Security, Iran's Revolutionary Guard, Council, Guardian, US, Military, Global Governance Centre, Geneva Graduate Institute Locations: Israel, Iran, Middle East, Australia, United States, Lindsey Graham of South Carolina, Tel Aviv, British
The stock market typically cools off in October following a really strong third quarter, but any weakness could prove to be a potential buying opportunity for year-end, according to Piper Sandler. On Tuesday, the first day of the month , the Dow Jones Industrial Average and the S & P 500 fell, while the Nasdaq Composite dropped more than 1%. Those losses come after the S & P 500 advanced 5.5% in the three months ended September. Since 1928, following the 34 instances when third-quarter returns were greater than 5%, the S & P 500 then slid 1% on average in October, the technician said. .SPX 1M mountain S & P 500 Many investors agree that the bias into year-end is to the upside, after some near-term seasonal weakness.
Persons: Piper Sandler, Stocks, Hurricane Helene spooked, Craig W, Johnson, Tom Lee, we've, Lee Organizations: Dow Jones Industrial, Nasdaq, Fundstrat Global Advisors Locations: U.S, Hurricane
The expanding war in the Middle East, however, has reached a new boiling point as Israel has vowed a "painful" response to Iran's attack. The government of Prime Minister Benjamin Netanyahu could take aim at the Islamic Republic's oil infrastructure in retaliation, geopolitical and crude market analysts say. "The next turn in this retaliation spiral may very well involve oil – via the degrading of Iran's oil capacityor Iran's proxies attacking oil and gas shipping from the Persian Gulf," Piper Sandler analysts told clients in a Wednesday research note. If Iran's oil exports of around 1.8 million bpd were taken offline, prices would likely jump by at least $5 per barrel, McNally said. An escalation on this scale could send oil prices higher in increments of $10 per barrel, the analyst said.
Persons: Ali Mohammadi, Benjamin Netanyahu, Helima Croft, Jack Jacobs, Jacobs, Croft, Piper Sandler, Bob McNally, McNally Organizations: Persian Gulf, Bloomberg, Getty, OPEC, RBC Capital Markets, U.S, Army, Rapidan Energy Locations: Bandar Abbas, Iran, Israel, China, Persian
CNBC Daily Open: Soft landing hit by minor turbulence
  + stars: | 2024-10-02 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
Mark Felix | Afp | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Port workers along the U.S. East Coast and Gulf Coast started striking Tuesday. It's just the first days of the port strike and flare-up in Middle East tensions, however. The best-case scenario would be that recent events are just minor turbulence on the way to a soft landing.
Persons: Mark Felix, Kathy Hochul, Adam Kamins, Christopher Ball, Piper Sandler, Campbell, It's, Steve Liesman, Jeff Cox, Fred Imbert, Lori Ann LaRocco, Sean Conlon, Alex Harring, Brian Evans Organizations: Afp, Getty, CNBC, U.S ., Gulf Coast, New, Moody's, Quinnipiac University, Nasdaq, Nvidia, Apple Locations: Seabrook , Texas, Port, U.S, U.S . East Coast, New York, New Jersey, Iran, Major U.S, East
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