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☆ JPMorgan vs. Bank of America? Analysts say one of the stocks is set to soar 50%
▼ + stars: | 2023-03-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

It's not just regional bank shares that have been hit by the recent banking crisis — large-cap bank stocks have also tumbled. JPMorgan was down nearly 6% last week, while Bank of America tumbled 8% over the same period. It said big banks are a "big beneficiary" and fundamentals at JPMorgan Chase, Bank of America, Wells Fargo and Citi look "rather strong." For those looking to invest, CNBC Pro takes a look at what analysts are saying about JPMorgan Chase and Bank of America in particular. However, Bank of America has only 8% of uninsured deposits as a proportion of its total deposit liabilities.

☆ Here are Tuesday's biggest analyst calls: Apple, Meta, Harley-Davidson, Exxon, Amazon, Roblox & more
▼ + stars: | 2023-03-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are Tuesday's biggest calls on Wall Street: Morgan Stanley upgrades Meta to overweight from equal weight Morgan Stanley said it sees a more "structurally" disciplined company. " Morgan Stanley upgrades Emerson Electric to overweight from neutral Morgan Stanley said shares of the multinational tech company are too attractive to ignore. Morgan Stanley reiterates Apple as overweight Morgan Stanley said Microsoft is a long-term threat to Apple that's worth watching. Morgan Stanley upgrades Harley-Davidson to overweight from equal weight Morgan Stanley said the stock is attractive at current levels. Morgan Stanley reiterates Exxon as overweight Morgan Stanley said it likes the oil and gas giant's robust "competitive positioning."

☆ More banks could soon fail - but that could end up being good news for stocks
▼ + stars: | 2023-03-14 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

Still, no matter what the Consumer Price Index clocks in at, it's possible that the failures of Signature Bank and Silicon Valley Bank already convinced Jerome Powell to take his foot off the gas. Silicon Valley Bank employees react to the bank's collapse Getty Images1. With the government rescuing Signature and Silicon Valley Bank depositors, not all the downside has been contained, according to Wharton finance professor, Itamar Drechsler. Silicon Valley Bank's CEO, Greg Becker, previously asked Congress to ease regulatory oversight on the bank. But, as Jefferies analysts put it, "the world changed" with Silicon Valley Bank's failure.

☆ Elon Musk publicly trolled a Twitter employee who wanted to know if they still had their job: 'What work have you been doing?'
▼ + stars: | 2023-03-07 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Elon Musk publicly trolled a Twitter employee who wanted to know if they still had their job. Four hours after Thorleifsson tweeted, Musk responded. When Thorleifsson responded that he would need permission from Twitter's lawyers to publicly disclose his work at the company, Musk tweeted: "It's approved, you go ahead." After his exchange with Musk, Thorleifsson tweeted that he was "ok" with being laid off and said it was "fair enough." Thorleifsson, Twitter, and Musk did not immediately respond to Insider's requests for comment.

☆ How to see the Venus and Jupiter conjunction, when the two brightest planets align in the sky
▼ + stars: | 2023-03-01 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +3 min

Jupiter and Venus will appear to almost touch in the night sky on Wednesday and Thursday. They're the brightest objects in the sky after the sun and moon, so they're visible to the naked eye. In fact, Venus is the third brightest object in the sky after the sun and moon. How to spot Jupiter and Venus in the skyJupiter (left) and Venus (right) are two of the brightest objects in the sky. They'll creep away from each other night after night, Venus rising and Jupiter dropping toward the horizon and the sun.

☆ Elon Musk expected to outline more affordable EV and new Tesla 'Master Plan'
▼ + stars: | 2023-03-01 | by ( Hyunjoo Jin | ) www.reuters.com time to read: +3 min

Capturing the mass market is critical to Tesla's goal of increasing deliveries 15-fold - to 20 million vehicles - by 2030. Musk could also describe plans to update the company's best-selling vehicles, after Reuters revealed its "Project Jupiter" plan to revamp its Model Y SUV. The Investor Day event will be webcast from Tesla's Texas factory and is scheduled to start at 4 p.m. EST (2100 GMT). Musk also is set to announce the company's "Master Plan 3" for a "sustainable energy future." It would be the company's first factory outside of the United States, Germany and China, and Musk is expected to provide more details on Wednesday.

☆ Alibaba shares rally 6% after massive earnings beat
▼ + stars: | 2023-02-23 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Alibaba reported earnings for its fiscal third quarter that smashed expectations, sending U.S.-listed shares soaring 6% higher at 7:07 a.m. EST. Net income: 46.82 billion yuan vs 34.02 billion yuan, up 69% year-on-year. During the December quarter, China abruptly ended its strict Covid controls such as lockdowns. Revenue from Alibaba's biggest business, the China commerce division, which includes its popular marketplace Taobao, totaled 169.99 billion yuan, down by 1% year-on-year. International commerce revenue grew 18% year-on-year to 19.47 billion Chinese yuan.

SummarySummary Companies Retail sales up 3% in Jan vs. est. A Commerce Department report showed retail sales surged 3% in January, driven by purchases of motor vehicles and other goods. "These numbers (retail sales) beat consensus by a long shot and it just shows that the consumer is still in a good spot," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. Of the more than half of the S&P 500 firms that have reported results so far, nearly 70% have topped profit expectations, as per Refinitiv data. ET, Dow e-minis were down 82 points, or 0.24%, S&P 500 e-minis were down 11.25 points, or 0.27%, and Nasdaq 100 e-minis were down 25.5 points, or 0.2%.

China’s official count 0 2.5 million 83,150 deaths Model based on Shanghai outbreak 1.6 million deaths LOW ESTIMATE HIGH ESTIMATE Estimate using travel patterns 970,000 deaths Estimate using recent testing data 1.5 million deaths Estimate based on U.S. death rates 1.1 million deaths China’s official count 0 2.5 million 83,150 deaths Model based on Shanghai outbreak 1.6 million deaths LOW EST. But China’s official Covid death toll for the entire pandemic remains strikingly low: 83,150 people as of Feb. 9. Four separate academic teams have converged on broadly similar estimates: China’s Covid wave may have killed between a million and 1.5 million people. Why official data underrepresents China’s outbreak83,150 deaths China’s official count on Feb. 9 0 2.5M 83,150 deaths China’s official count on Feb. 9 0 2.5 millionChina has a narrow definition of what counts as a Covid-19 death. But the work was unwavering in its ultimate conclusion: Ending the “zero Covid” policy was likely to overwhelm the health care system, producing an estimated 1.6 million deaths.

☆ Meet Justina Miles, Rihanna's Super Bowl halftime show ASL performer
▼ + stars: | 2023-02-12 | by ( Jennifer Liu | ) www.cnbc.com time to read: +4 min

As millions tune in to watch the Philadelphia Eagles take on the Kansas City Chiefs at the Super Bowl in Glendale, Arizona, this Sunday, Justina Miles will be making history. She will also be the first female deaf performer for the Super Bowl's halftime show. More than 120 million viewers watched the Super Bowl halftime show in 2022, which featured Dr. Dre, Snoop Dogg, Eminem, Mary J. Blige and Kendrick Lamar. It was the first Super Bowl halftime show to feature ASL performers, including rappers Sean Forbes and Warren "WaWa" Snipe. Super Bowl pre-game coverages starts Sunday at 1 p.m. EST on Fox, and kickoff is set for 6:30 p.m. EST.

"We don't know who owns this object," said White House spokesperson John Kirby, adding that it was unclear where it began its flight. President Joe Biden ordered the shootdown, which was announced from the White House. Some lawmakers criticized the president for not shooting down the Chinese balloon sooner. The object was shot down off the coast of northeastern Alaska over frozen U.S. territorial waters near the Canadian border. UNMANNED VESSEL[1/4] White House National Security Council Strategic Communications Coordinator John Kirby takes questions during the daily press briefing at the White House in Washington, U.S. February 10, 2023.

☆ Coty raises profit forecast on resilient demand, price hikes
▼ + stars: | 2023-02-08 | by ( Ananya Mariam Rajesh | ) www.reuters.com time to read: +2 min

[1/2] Gucci fragrances, owned by Coty Inc., are seen for sale in Manhattan, New York City, U.S., February 7, 2022. profit between 35 cents/shr and 36 cents/shrFeb 8 (Reuters) - Coty Inc (COTY.N) raised full-year profit forecast on Wednesday, betting on price hikes and resilient demand for its fragrances and cosmetics even as inflation pinches consumer wallets. The company's shares rose about 4% to $10.80 in premarket trading after also beating expectations for second-quarter revenue and profit. Analysts expect China's move in early December to relax its toughest COVID curbs and lift some travel restrictions to benefit luxury and beauty companies that had flagged a hit to sales in the country. The CoverGirl parent now expects 2023 adjusted profit of between 35 cents and 36 cents per share, against a prior forecast of 32 cents to 33 cents per share.

☆ 'Search unlikely to be uprooted by ChatGPT': From AI competition to massive layoffs, here's what Wall Street is watching for in Alphabet's 4th-quarter earnings
▼ + stars: | 2023-02-02 | by ( Carla Mozée | ) www.businessinsider.com time to read: +4 min

Analysts will likely fire off competition questions about the buzzy ChatGPT tool alongside those about the company's traditional search business. The company heads into the earnings report after saying last week it's laying off 12,000 employees, following two years of "dramatic growth." "ChatGPT vs Google -- Bottom Line: Search Unlikely to be Uprooted by ChatGPT," Jefferies Brett Thill in outlining its "bullish" view on Alphabet in a note published last week. "We continue see Google as defensive stock in sector, layoffs & other cost-cutting could lead to 2H margin improvement thesis," he said. BofA expects fourth-quarter core Google margins to be down 566 basis points year over year as headcount growth outpaces search.

How to get Citi presale tickets for Beyoncé's Renaissance World TourSince demand for Beyoncé's tour is so high, she's using Verified Fan to help boost your shot of getting tickets. How to sign up for Citi Verified Fan Registration Visit the ticketing website during the registration period and choose which group you'd like to move forward with for Citi Verified Fan Registration. The Citi presale will run from Feb. 7 at 10 a.m. through Feb. 8 at 6 p.m., or while supplies last. The Citi presale will run from Feb. 7 at 10 a.m. through Feb. 8 at 6 p.m., or while supplies last. The Citi presale will run from Feb. 14 at 10 a.m. through Feb. 15 at 6 p.m., or while supplies last.

☆ SEC readies Wall Street 'conflicts' rule, a decade after first try
▼ + stars: | 2023-01-25 | by ( Douglas Gillison | ) www.reuters.com time to read: +3 min

An earlier version of the conflicts rule first proposed in 2011 was never finalized. When made effective with an SEC rule, the section would prohibit traders from betting against asset-backed securities they sold to investors. According to SEC officials, the rule would ban such actions for up to a year following sale of the securities. According to SEC officials, traders who disclosed bets contrary to clients' investments would still run foul of the rule. Without citing prominent recent examples of such conflicts of interest in the asset-backed securities market, SEC officials said the conflicts rule was needed to remove the opportunity and incentive for such conduct.

"With improving churn numbers and strong 5G wireless net adds, AT&T is entering 2023 in a good position," Third Bridge analyst Jamie Lumley said. Apart from 5G technology, AT&T is also investing in bolstering its fiber-optic network, which lets it sell both broadband services and video packages. "We will be operating in a challenging macroeconomic environment where wireless industry growth is likely to return to more normalized levels." Wireless stocks in the last 12 months Wireless stocks in the last 12 monthsFor the latest quarter, AT&T added 656,000 postpaid phone subscribers, above Factset estimates of 644,800 additions. The number also came in well above Verizon's 217,000 additions, although it failed to match T-Mobile's expected 927,000 additions.

The ever-important U.S. corn crop may be most primed for a market miss due to an alarmingly low range of guesses. YIELDSAnalysts’ range on U.S. corn yield is a seven-year low and for soybeans it is at least a 13-year low. U.S. farmers did not have a banner corn crop primarily because of drought in western areas. The 2021 corn yield last January was unchanged from November, but otherwise the trade is looking for the smallest January move in corn yield in 14 years. Argentina’s corn crop is seen falling more than 5% to 52 million tonnes from 55 million in December.

☆ CNBC Pro Talks: Portfolio manager Trent Masters shares how to beat the market — and his top stock picks
▼ + stars: | 2023-01-11 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +3 min

Global stocks were hit hard in 2022, with the MSCI World Index falling almost 20%. Join CNBC's next Pro Talks for insights on how to play the market in 2023. Watch the next Pro Talks here . Join CNBC's next Pro Talks for insights on how to play the market in 2023. Watch the next Pro Talks here.

FAA officials said a preliminary review traced the outage to a damaged database file, but added there was no evidence of a cyberattack and the investigation was continuing. FAA officials said they were working to "further pinpoint the causes" so the problem can be avoided in the future. One issue airlines are facing is trying to get planes in and out of crowded gates, which is causing further delays. He described confusion as airline employees and many passengers were initially unaware of the FAA's moves and flight delays. The U.S. Travel Association, which represents the travel industry including airlines, called the FAA system failure "catastrophic."

☆ Final call: Nominate a company for CNBC's 2023 Disruptor 50 list
▼ + stars: | 2023-01-11 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

CNBC is now accepting nominations for the 2023 Disruptor 50 list — our annual look at the most innovative venture-backed companies using breakthrough technology to meet increasing economic and consumer challenges. The IPO market has collapsed in lockstep: only three Disruptor 50 companies went public in 2022, compared to a record-breaking 20 companies in the year prior. Last month, another Disruptor 50 fintech firm, Checkout.com, slashed its internal valuation to $11 billion, versus a previous investor valuation of $40 billion. Klarna raised financing at a $6.7 billion valuation last year, an 85% discount to its prior valuation of $46 billion. But it's workers who have been hit the hardest by these severe haircuts: at least one-third of companies on the 2022 Disruptor 50 list announced layoffs last year, signaling leaner times ahead.

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Rivian, Target, Microsoft, Etsy & more
▼ + stars: | 2023-01-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are the biggest calls on Wall Street on Monday: UBS downgrades Microsoft to neutral from buy UBS said in its downgrade of the stock that it's concerned about Microsoft Office risks. Wells Fargo downgrades Target to equal weight from overweight Wells said in its downgrade of the stock that it sees too much 2023 uncertainty. " UBS downgrades JB Hunt to neutral from buy UBS said in its downgrade of the shipping company that it sees volume and pricing risk. UBS downgrades Honeywell to sell from buy UBS said in its downgrade of the stock that the multiple is "inflated." UBS reiterates Amazon as buy UBS lowered its price target on the e-commerce giant to $125 per share from $165 but says it's standing by the stock.

Poloncarz updated the death toll from the blizzard on Wednesday, reporting 37 deaths in Erie County, with one other storm-related fatality in neighboring Niagara County. The goal was to get at least one lane of traffic open on each street by Wednesday night, Poloncarz said. The mercury climbed above freezing on Wednesday, and forecasts called for the thaw to continue with spring-like temperatures and showers likely by week's end. "We're actually expecting a rapid melt over the next two days, because we're going to hit 50 degrees (Fahrenheit)," Poloncarz said. Showers and thunderstorms are expected in the Gulf Coast and lower Mississippi Valley, the weather service said.

☆ Mega Millions jackpot surpasses estimated $565M
▼ + stars: | 2022-12-27 | by ( The Associated Press | ) www.nbcnews.com time to read: +1 min

The holiday shopping season — for Mega Millions lottery ticket buyers, at least — is ramping up as officials say the estimated jackpot for Tuesday night’s drawing has surpassed half a billion dollars. Tickets sold in California and Florida for an Oct. 14 drawing shared the last Mega Millions jackpot of $502 million. Lottery officials say there have been 11 winning jackpots of $500 million or more since Mega Millions began in 2002. The record Mega Millions jackpot is more than $1.5 billion, won in 2018, and a jackpot surpassing $1.3 billion was won in Illinois in July. The largest U.S. lottery jackpot ever won was $2.04 billion in November.

☆ Fact Check-Fabricated CNN headline claiming that Biden pledged billions toward classes for women in Africa circulates online
▼ + stars: | 2022-12-23 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

An altered image has been circulating online purporting to show a CNN headline that reports U.S. President Joe Biden has pledged billions toward educational courses for women across Africa. A CNN logo is viewable at the top left, with the purported article published under the “CNN politics” banner. (here)A search through CNN’s website did not reveal any article with the fabricated headline (archive.vn/wip/jJunx), nor did archived versions of CNN’s homepage reveal the alleged report. (archive.vn/wip/0uBPY)A Google advanced search did not reveal any report published by any news outlet with the fabricated headline. No headline reporting that the Biden administration had pledged $350 billion toward education courses for women across Africa was published by CNN.

☆ Oil prices rise over $2 on drawdown in U.S. crude stocks
▼ + stars: | 2022-12-21 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +3 min

Brent crude futures for February delivery were up by $2.23, or 2.8%, at $82.22 a barrel by 12:20 p.m. U.S. West Texas Intermediate (WTI) crude futures gained $2.03, or 2.7%, to $78.26. U.S. crude inventories fell by 5.89 million barrels, according to data from the U.S. Energy Information Administration (EIA), compared with estimates for a drop of 1.66 million barrels. Distillate inventories fell by 242,000 barrels, according to EIA data, compared with analyst estimates for a build of 336,000 barrels. Overall, Russian oil exports fell by 11% month on month for Dec. 1-20 after the European Union's embargo on Russian oil came into force, the Kommersant daily reported.

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