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JPMorgan downgrades Peloton to neutral from overweight "Following Thursday's +35% appreciation (vs. SPX -1%) we are moving from Overweight to Neutral rated as PTON's return to growth in CF Subs & Revenue remains challenging, & visibility is limited given secular & macro pressures." Wells Fargo reiterates Burlington Stores as top pick "We reiterate BURL as our "Top Pick" and see a highly visible growth/margin bull case unfolding in real time. The combination of 1) comp acceleration and 2) margin unlocks should be powerful, and we raise 2Q/FY numbers above Street. Wells Fargo upgrades BJ's Wholesale Club to overweight from equal weight "Margin investment is the right strategic shift despite n/t pain, and supplements robust member gains. Valuation is tricky, but comp ramp/return to algo in '25 point to upside."
Persons: Piper Sandler, Warby Parker, Uber, Nomura, Wells, BURL, Goldman Sachs, Bill.com, Guggenheim Organizations: Nvidia, RBC, Westlake, JPMorgan, CF Subs, Revenue, Bank of America, Waymo, Tesla, Burlington Stores, Wholesale
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOur year-end S&P 500 target remains 5,700, says RBC's Lori CalvasinaLori Calvasina, RBC Capital Markets head of U.S. equity strategy, joins 'Squawk Box' to discuss the latest market trends, what to make of the recent market sell-off, why she believes the sell-off didn't solve the market's major problems, and more.
Persons: RBC's Lori Calvasina Lori Calvasina Organizations: RBC Capital Markets
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThese situations will not settle themselves, says Atlantic Council's Fred Krempe on geopoliticsCNBC contributors Fred Krempe, Atlantic Council president and CEO, and Helima Croft, RBC Capital Markets head of global commodity strategy, join 'The Exchange' to discuss geopolitics, war conflicts on commodities, elections and more.
Persons: Fred Krempe, Helima Croft Organizations: CNBC, Atlantic, RBC Capital Markets
BTIG's chief market technician warned Sunday that, while the pullback seen early last week generated some "tactical buy signals," he thinks the "bulk of the bounce has likely run its course and [we] would use strength … to lighten exposure." However, the broad market index clawed back most of that decline by Friday, posting a weekly loss of just 0.04%. .SPX 1M mountain SPX 1-month chart "A final durable low is likely still ahead of us," Krinksy said. The big event this week will be the release of the consumer price index reading for July, due Wednesday. "We see LLY stock outperforming for its high growth outlook and low beta," the Deutsche analyst added, while calling the drugmaker a "low beta/high growth unicorn."
Persons: Jonathan Krinsky doesn't, Krinsky, Krinksy, Eric Johnston, Cantor Fitzgerald, Lori Calvasina, Scott Rubner, Goldman Sachs, Eli Lilly Organizations: JPMorgan, RBC Capital Markets, Deutsche Bank, Deutsche
DuPont's water business DuPont is considered a leader in purification and specialty-separation technologies that generates cleaner water for industries, governments, and communities. Arun Viswanathan, analyst at RBC Capital Markets, characterizes Dupont's water business' next-generation products as being "at the top of the technology pyramid." Dupont's water business is the smallest of the three companies that will be created by the breakup. As this exercise shows, DuPont's water business as a standalone firm would certainly deserve that compared to some. Potential M & A It's possible DuPont's water business never makes it to standalone status.
Persons: we've, Jim Cramer, It's, Lori Koch, it's, Aleksey Yefremov, Arun Viswanathan, Viswanathan, Dupont, RBC's Viswanathan, DuPont, KeyBank's Yefremov, EBITDA, Pentair, Veralto, Yefremov, They'll, they'll, , Koch, Ed Breen, Jim Cramer's, Jim, Jeff Fusco Organizations: DuPont, CNBC, JPMorgan, Bank, Barclays, RBC Capital Markets Locations: China, North America, Asia, East, Africa, America, Yefremov, Wilmington , Delaware
Yen dives as BOJ plays down chance of hikes, soothing markets
  + stars: | 2024-08-07 | by ( ) www.cnbc.com   time to read: +2 min
A Japanese 10,000 yen and a U.S. 100 dollar banknote juxtaposed against each other in Tokyo, Japan, on Monday, June 20, 2016. The yen dropped on Wednesday after an influential Bank of Japan official played down the chances of a near-term rate hike, soothing investors' concerns that a further jump in the Japanese currency could again rock global markets. The yen fell around 2.5% to a session low of 147.94 per dollar following the comments from BOJ Deputy Governor Shinichi Uchida. "I think it's become increasingly clear that the BOJ hawkish turn last week could be a policy error," said Alvin Tan, head of Asia FX strategy at RBC Capital Markets. The yen's decline was broad based, with the Mexican peso, New Zealand dollar and Australian dollar - all carry trade candidates - surging against the currency.
Persons: Shinichi Uchida, Uchida, Kazuo Ueda's hawkish, it's, Alvin Tan, inching, Rong Ren Goh Organizations: Bank of Japan, Asia FX, RBC Capital Markets, U.S, Eastspring Investments, New Zealand Locations: U.S, Tokyo, Japan, Asia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDon't see OPEC increasing output into this market, says RBC's Helima CroftHelima Croft, RBC Capital Markets global head of commodity strategy, joins 'Squawk Box' to discuss the state of the energy markets, oil production outlook, impact of Middle East tensions, and more.
Persons: RBC's Helima Croft Helima Croft Organizations: RBC Capital Markets
U.S. crude oil futures broke above $78 per barrel Thursday on fears that Israel and Iran are heading to a direct conflict after the assassination of a Hamas leader in Tehran. Iran Supreme Ayatollah Ali Khamenei has ordered a direct strike on Israel in response to the assassination of Hamas political leader Ismail Haniyeh, three Iranian officials told the New York Times. Khamenei ordered the direct strike at an emergency meeting of Iran's national security council Wednesday morning after Haniyeh was killed, the officials told The Times. Iran and Israel traded direct strikes in April, pushing oil prices to the highest point of the year, but they enemies ultimately pulled back from a full-scale war. The rising tensions come as an OPEC+ committee is meeting Thursday to review members' production quotas.
Persons: Ali Khamenei, Ismail Haniyeh, Haniyeh, Khamenei, Yemen's, Helima Croft, Croft Organizations: New York Times . West Texas, Times, Reuters, RBC Capital Markets Locations: Israel, Iran, Tehran, Iraq, Gaza
"Each of these strengths contributed to a good revenue performance in the first half of 2024, supported by higher interest rates." Hong Kong-listed shares of HSBC were up 2.84% at 07:56 a.m. London time in the wake of the earnings beat. The first-half figure nevertheless came in well above the $20.5 billion average of broker estimates compiled by HSBC, according to Reuters. "The strong performance of the business gives us the confidence to say that we'll be mid-teens return in 2025 as well," Quinn told CNBC. "This headwind will be partially offset by hedging and balance sheet growth, but this growth is unlikely to be remarkable.
Persons: Noel Quinn, HSBC's Quinn, , Quinn, there's, Jefferies, Benjamin Toms, Toms, CNBC's Ganesh Rao Organizations: HSBC, Securities Financing, Global Banking, London and New York Stock Exchanges, Reuters, Wednesday, CNBC, Capital Locations: Hong Kong, London, Britain
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRBC Capital's Lori Calvisina: earnings season is showing 'tired goldilocks' effectLori Calvasina, RBC Capital Markets head of U.S. equity strategy, joins 'Squawk on the Street' to discuss the Fed meeting, her projection on rate cuts, and its impact on consumers.
Persons: Lori Calvisina, Lori Calvasina Organizations: RBC, RBC Capital Markets
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCroft: Many market participants don't believe energy supply is at risk from Middle East conflictHelima Croft, Global Head of Commodity Strategy at RBC Capital Markets, discusses oil prices following new developments in the Middle East conflict.
Persons: Helima Croft Organizations: Global, RBC Capital Markets
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's what a Harris presidency could mean for energy markets and oil pricesHelima Croft, Global Head of Commodity Strategy at RBC Capital Markets, discusses what a Kamala Harris presidency would mean for the energy markets.
Persons: Harris, Croft, Kamala Harris Organizations: Global, RBC Capital Markets
Nasdaq futures fell after Alphabet and Tesla reported earnings. Tesla auto revenue dropsTesla's second-quarter earnings fell short of expectations as automotive sales declined for the second consecutive quarter. YouTube's ad revenue fell short of estimates amid increased competition from platforms like TikTok. GM skidsGeneral Motors' beat second-quarter earnings estimates but shares fell 6% as it restructures its struggling autonomous vehicles and Chinese business. RBC Capital Markets' Tom Narayan highlighted GM's expectation that second-half earnings will be $2.5 billion lower than in the first half.
Persons: Tesla, Ruth Porat, Morgan Stanley's Adam Jonas, Tom Narayan Organizations: New York Stock Exchange, CNBC, Nasdaq, Dow Jones, Treasury, Tesla, GM, General, RBC Capital Markets, United Parcel Service, UPS, Barclays, CNBC Pro Locations: New York City, U.S, Waymo
(This is CNBC Pro's live coverage of Wednesday's analyst calls and Wall Street chatter. "At this point, we believe EPS and investor sentiment have troughed and believe the risk-to-reward profile skews favorable," wrote analyst Nik Modi. "However, with minimal upside to our revised $47 price target and a relatively 'balanced' risk-reward between our $28 bear case …. –Samantha Subin 5:54 a.m.: Wall Street stands by Alphabet, AI potential post-earnings Wall Street analysts remain bullish on the outlook for Alphabet , even after the stock fell on the back of its second-quarter results. His price target of $425, up from $320, implies upside of more than 28% from Tuesday's close.
Persons: Goldman Sachs, Lauder, Estee Lauder, Nik Modi, Modi, Estee, – Samantha Subin, Morgan Stanley downgrades, Morgan Stanley, Adam Jonas, Jonas, Samantha Subin, Dan Levy, Tesla, Michaeli, Bernstein's Toni Sacconaghi, Mark Delaney, GOOGL, Doug Anmuth, Justin Post, Eric Sheridan, Brent Thill, Sheridan, Fred Imbert Organizations: CNBC, Spotify, RBC, Markets, Motors, GM, General Motors, Tesla, Barclays, YouTube, Bank of America, Google, Jefferies Locations: China, 1H25, Tuesday's
As the 2024 market rally broadens out, some small-cap stocks are poised to do better than others. But with interest rate cuts on the horizon, the prospects for small-cap stocks have improved in recent weeks. The Russell 2000 small-cap index has already risen more than 6% in July alone. Against that backdrop, CNBC Pro screened for the small-cap stocks that could be poised for a boost. "We believe near-term expectations are reasonable, and given the stock's negative sentiment and recent market volatility, we decided to move to the sidelines," wrote analyst Chris O'Cull.
Persons: Russell, tickers, Stifel, Chris O'Cull, Logan Reich, Reich, Shutterstock, Nick Wells Organizations: Nvidia, CNBC Pro, Papa John's, RBC Capital Markets, Canadian, Janus International, MGP
UNH 1M mountain UnitedHealth stock over the past month. Think Centene , Molina Healthcare , UnitedHealth and Humana , among others. Managed-care companies historically buck the broader trend of health stocks and outperform in the first year after an election, according to Raymond James. Unlike UnitedHealth, shares have fallen — down 3% — since the June debate. Raymond James sees Oscar Health , HCA Healthcare and Tenet Healthcare as beneficiaries of a victory by the left.
Persons: Raymond James, Chris Meekins, Donald Trump, Joe Biden, quieted, Biden, Meekins, Centene, Trump, Bernstein, Jefferies, David Windley, UnitedHealth, Ben Hendrix, Optum, John Ransom, Piper Sandler, Ransom, Lance Wilkes, Oscar, — Ransom, Oscar's Organizations: Affordable, Trump, UnitedHealth, Republican, Biden, GOP, Federal Trade Commission, Department of Justice, ACA, Medicare, Molina Healthcare, RBC Capital Markets, CVS Health, RBC Capital, DOJ, Humana, Healthcare, GoodRx Holdings, Democratic, Oscar Health, Tenet Healthcare, Aetna Locations: Molina, UnitedHealth, U.S, Thursday's, Florida, Texas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailProceed with caution in the short-term trade, says RBC's Lori CalvasinaLori Calvasina, RBC Capital Markets, joins 'Closing Bell' to discuss the moves in the Ruasell 2000 and her pullback watchlist.
Persons: RBC's Lori Calvasina Lori Calvasina Organizations: RBC Capital Markets
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis reporting season is a big test for markets, says RBC's Lori CalvasinaLori Calvasina, RBC Capital Markets head of U.S. equity strategy, joins 'Squawk Box' to discuss the latest market trends, state of the economy, the Fed's rate path outlook, and more.
Persons: RBC's Lori Calvasina Lori Calvasina Organizations: RBC Capital Markets
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBig Banks rally around earnings: Why Bank of America is RBC’S top pick in the spaceGerard Cassidy, RBC Capital Markets co-head of global financials research, joins 'Fast Money' to talk the Big Banks stock rally.
Persons: Gerard Cassidy Organizations: Bank of America, RBC Capital Markets, Big Banks
These stocks reporting next week have earnings momentum
  + stars: | 2024-07-12 | by ( Pia Singh | ) www.cnbc.com   time to read: +4 min
Next week brings big earnings reports from heavyweight financials and a couple other Wall Street favorites, some of which have strong forward earnings momentum ripe for investment. For the quarterly period, the estimated year-over-year earnings growth rate for the broad market index is 8.8%, according to FactSet. If that comes out as the actual growth rate for the quarter, it will be the highest year-over-year earnings growth rate reported by the index since the first quarter of 2022, which saw a 9.4% growth rate, FactSet said. Companies with strong earnings momentum often show revenue growth, improving margins or cost reductions, making the stocks look more attractive. Take a look at the stocks we found below: Netflix , which is set to report its results on Thursday, has strong earnings momentum, according to analysts.
Persons: FactSet, TD Cowen, John Blackledge, Kai, Morgan Stanley, — CNBC's Chris Hayes Organizations: CNBC Pro, CNBC, Netflix, Northern Trust, Fifth, Regions Financial, Trust, RBC Capital Markets, Federal Reserve, RBC, . United Airlines, United Airlines, Delta Air Lines, Delta, United Locations: Northern
With the second half of the year underway, Oppenheimer is highlighting what it calls its top small- and midcap seasonal standout investment ideas. On the basis of price charts alone, Oppenheimer tapped midcap growth stocks as its top rotation idea from a technical perspective. Oppenheimer has a $20 price target on Zeta, implying 18% upside from Tuesday's close. In a note last month, RBC Capital Markets also rated Zeta outperform with a price target of $20. In this area, Oppenheimer likes Viking Therapeutics , reiterating the stock as one of its best ideas.
Persons: Oppenheimer, Russell, Brian Schwartz, Zeta, Novo Nordisk's Wegovy, Eli Lilly's Zepbound, Jay Olson, Freshpet Organizations: Oppenheimer, Zeta Global Holdings, Zeta, RBC Capital Markets, Novo Nordisk's, Viking Therapeutics, Therapeutics Locations: Zeta, Novo
RBC Capital Markets added two major global oil and gas companies to its Global Energy Best Ideas list. Those additions come as RBC adjusts its list of preferred energy stocks, simultaneously removing Santos , an Australian oil and gas producer. The stocks in the RBC Global Energy Best Ideas list were collectively resilient last month, declining by just 0.5%. However, it still outperformed the iShares Global Energy ETF , which fell by 2.5% during the same time. RBC has been equally bullish on Woodside Energy , Australia's largest independent oil and gas producer, and its inclusion in its energy basket.
Persons: Santos, Greg Pardy, Wael Sawan Organizations: RBC Capital Markets, Global Energy, Shell, Woodside Energy, RBC, RBC Global Energy, Global Energy ETF, Energy Locations: U.S, Europe, Australian, United States, Senegal
As the third quarter kicks off, RBC Capital Markets added a solar company and oil giant to its list of Top 30 Global Ideas for 2024. RBC's list includes the firm's highest-conviction stocks offering strong, long-term upside potential that its analysts view as "well-positioned in the current environment." For the third quarter, RBC added solar solutions provider First Solar , oil giant Shell and global logistics provider Brambles to its list. The bank also removed Mastercard and Alnylam Pharmaceuticals , which was its best-performing stock in the group last quarter. Digital payments stock PayPal is another RBC pick, with its price target suggesting 42% potential upside over the next year.
Persons: Graeme Pearson, CrowdStrike, Matthew Hedberg, Hedberg, Daniel Perlin, Brambles Organizations: RBC Capital Markets, RBC, Mastercard, Alnylam Pharmaceuticals, Big Tech, Pearson, PayPal, Shell, Australian, RBC . Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpectations for market volatility will start to rise amid political turmoil: RBC's Amy Wu SilvermanAmy Wu Silverman, RBC Capital Markets head of derivatives strategy, joins 'Squawk Box' to discuss the latest market trends, why she believes investors are increasingly concerned about volatility amid political turmoil, and more.
Persons: Amy Wu Silverman Amy Wu Silverman Organizations: RBC Capital Markets
This 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. However, recent profit-taking and valuation concerns led to a pullback and a rare downgrade from a Wall Street analyst. Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. Kolanovic wasn't the only Wall Street strategist to be caught out by the bull run — but rival banks have incrementally increased their calls.
Persons: Skydance, David Ellison, Marko Kolanovic, Kolanovic, Lori Calvasina, Calvasina, Tesla, Tom Narayan, Squawk, Narayan, Tom Sosnoff, Bill Ackman, Warren Buffett, Sosnoff, — CNBC's Pia Singh, Alex Harring, Holly Ellyatt, Ruxandra Iordache, Ryan Browne, Samantha Subin, Lim Hui Jie, Leslie Josephs Organizations: New York Stock Exchange, CNBC, Nvidia Nvidia, Wall, Paramount, Skydance Media, Paramount Global, Hollywood, Boeing, Justice Department, JPMorgan, RBC Capital Markets, RBC Locations: Hollywood
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