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☆ Trump lender Axos plunges 15% after short-seller report flags real-estate loan risk
▼ + stars: | 2024-06-04 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Axos Financial fell as much as 15% on Tuesday after Hindenburg Research announced a short position. The short bet stems from Axos' large exposure to commercial real estate. In a note, the research firm outlined that it's taken a short position in the lender, citing Axos' rising exposure to commercial real estate. AdvertisementTo compare with Axos, the noted cited that the average direct commercial real estate exposure among regional banks is 16.5% on loan books. CEO Greg Garrabrants also previously told Bloomberg that commercial real estate fears are overdone, and the risk is already reflected by Axos' stock price.

Persons: Axos, Hindenburg, —, Hindenburg's, Greg Garrabrants, Donald Trump Organizations: Axos, Hindenburg Research, Service, Securities and Exchange, Bloomberg, Trump Locations: California, Florida

Shares of Logitech are up 2% on the year and could rally another 17%, if Scemama's target price holds true. Analyst Kristine Liwag accompanied the move by raising her price target to $225 from $178. The bank reiterated its overweight rating on the credit card stock but lifted its price target to $275 from $265. International revs should run above the 10%+," the analyst added. Goldman analyst Tina Hou set a 12-month price target of $34, while Bank of America analyst Ming Hsun Lee set a price objective of $35.

Persons: Bernstein, Goldman Sachs, Goldman, TZE, Brian Lee, Lee, — Spencer Kimball, Didier Scemama, Scemama, — Lisa Kailai Han, Morgan Stanley, Kristine Liwag, Heico's, Liwag, Stanley Black, Decker, Julian Mitchell, Mitchell, Wells, Wells Fargo, Donald Fandetti, Fandetti, Canaccord, Kingsley Crane, Crane, Oppenheimer, Jed, Kelly foresees, FanDuel —, Kelly, Zeekr, Tina Hou, Ming Hsun Lee, Hou, Stacy Rasgon, Rasgon, Fred Imbert Organizations: CNBC, Broadcom, Bank of America, Investors, Technologies, Department of Energy, Logitech, Boeing, Barclays, Stanley, Nvidia, American, Express, American Express, U.S . American Express, Wall, Zeekr, China EV, China, Geely Automobile, AMD Locations: Monday's, EU, U.S, China, BofA

☆ S&P 500 enters June near a record but with growing concerns about the market's narrow leadership
▼ + stars: | 2024-06-01 | by ( Michael Santoli | ) www.cnbc.com time to read: +9 min

The S & P 500 is a mere 1.2% from its all-time high, yet only 60% of its member stocks are up for the year and just over 40% last week were above their 50-day moving average. .SPX YTD mountain S & P 500, 1-year We seem to undergo one of these periods of decrying a lack of market breadth every few months in recent years. Bespoke Investment Group last week looked at the small number of past instances when the S & P 500 was so close to a record yet most stocks were beneath a 50-day average. The 100-day correlation between the S & P 500 and the Dow Jones Industrial Average has hit its lowest level since the dot-com bust of the early 2000s, according to CNBC's Data & Analytics group. The S & P 500 at the highs hit 21-times forward earnings, and we've spent very little time above that outside the pandemic melt-up and the tech boom/bust a quarter-century ago.

Persons: Warren Pies, Dow, Scott Chronert, we've Organizations: Investment, 3Fourteen, Nvidia, Treasury, Microsoft, Apple, Dow Jones, Dell Technologies, Citi, UBS Locations: Banks

☆ Analysts defend Salesforce, saying the sell-off is overdone and AI impact is ahead
▼ + stars: | 2024-05-30 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Even a sharp sell-off in Salesforce stock Thursday — down as much as 21% intraday — isn't keeping some analysts on Wall Street from sticking with their optimistic outlooks on the maker of customer relationship management software. Salesforce executives tied the disappointing results to elongated deal cycles throughout the first quarter that hit the company's booking schedule. Weiss reiterated an overweight rating on Salesforce, albeit with a $320 per share price target, down from $350. Goldman Sachs analyst Kash Rangan reiterated a buy rating on Salesforce stock, but lowered his price target to $315 per share from $345. The analyst reiterated an overweight rating on the stock with a $300 per share price target, or about 10% upside from yesterday's close.

Persons: Goldman Sachs, Morgan Stanley, JPMorgan Chase, Keith Weiss, Weiss, Kash Rangan, Rangan, Mark Murphy, Tyler Radke, Radke Organizations: Wall, JPMorgan, Citigroup Locations: Salesforce, CY25

☆ We're cutting our price target on Salesforce after mixed earnings, soft guidance
▼ + stars: | 2024-05-29 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

The company's balance of margin expansion with the potential for faster top-line growth should lead to strong earnings growth. Non-GAAP operating margin benefited from the lower cost of revenues, sales and marketing, and general and administrative expenses. Management reduced its revenue growth forecast for the subscription and support business to slightly below 10% over last year. The adjusted operating margin target of 32.5% was reaffirmed and is in line with expectations. For the second quarter, Salesforce estimates revenues of $9.2 to $9.25 billion, below the $9.345 billion estimate.

Persons: Salesforce isn't, Brian Millham, Marc Benioff, we've, Salesforce, That's, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Revenue, LSEG, SAP, Microsoft, Nvidia, CRM, Management, buybacks, CNBC, Bloomberg, Getty Locations: San Francisco , California, U.S

☆ Ozempic doesn't make everyone thin. That opens up an opportunity for some stocks
▼ + stars: | 2024-05-27 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +7 min

Or, in other cases, it can open the door to new options for the treatment of obstructive sleep apnea. Treating obesity and addressing sleep apnea Sleep apnea is a serious sleep disorder that results in interrupted breathing, preventing patients — and even their sleeping partners — from getting restful and restorative sleep. Obstructive sleep apnea, the most common form, occurs when muscles in the throat relax and collapse preventing air flow. Before qualifying for the device, patients usually need to have tried treatment with a CPAP machine and an oral device and been unsuccessful. He downgraded Inspire shares to hold at the beginning of the year due to this uncertainty he was anticipating.

Persons: Eli Lilly's Zepbound, Anthony Petrone, Medical's, Eli Lilly, Tim Herbert, Zepbound, Herbert, FactSet, Petrone, UnitedHealth, Jonathan Block Organizations: Novo Nordisk's, Mizuho Securities, CNBC, Systems, Inspire, American Diabetes Association, Drug Administration, National Institutes of Health, BMI Locations: U.S

☆ Morgan Stanley says these stocks show 'no sign of slowing down' into the summer
▼ + stars: | 2024-05-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

A slate of stocks — including a couple of notable winners — still have plenty more room to run this summer, according to Morgan Stanley. "Despite near all-time high, valuation remains attractive, especially when compared to more well known stocks," he wrote. Warner Music Group Analyst Benjamin Swinburne recently resumed coverage of Warner Music Group with an overweight rating and called the stock a top pick. Warner Music Group "In the past 18 months, the music industry has seen significant positive developments. Progressive "Despite near all-time high, valuation remains attractive, especially when compared to more well known stocks.

Persons: —, Morgan Stanley, it's, Morgan, Morgan Stanley's, Megan Alexander, Alexander, she's, Bob Jian Huang, Huang, Benjamin Swinburne, Swinburne, Price, DELL Organizations: Nvidia, CNBC, Dell Technologies, Hasbro, Body Works, Warner Music Group, Android, Warner Music, Warner, NVIDIA

☆ Google AI said to put glue in pizza — so I made a pizza with glue and ate it
▼ + stars: | 2024-05-24 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +7 min

I knew my assignment: I had to make the Google glue pizza. But now I'm an adult and can't be shamed for eating glue pizza.) AdvertisementIt appears that the origin of the pizza glue was a joke made on Reddit 11 years ago about adding glue to sauce. Presumably, Google AI search results will improve, and these weird flukes of bad results will become increasingly rare. DO NOT EAT GLUE PIZZA.

Persons: —, it's, It's, minty, Katie Notopoulos, DKdCa6LUap, Scarlett Johansson Organizations: Service, NHL, University of Wisconsin, Business, Google

☆ David Einhorn was once the young thorn in the side of executives. Now he's dealing with his own.
▼ + stars: | 2024-05-17 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewIn 1996, David Einhorn founded Greenlight with less than $1 million in capital — a good chunk of which came from his parents — at the precocious age of 27. And now the 55-year-old is dealing with something he once was: a thorn in the side. Fishback sued his old firm for defamation in October, which is now in arbitration, according to a person familiar with the case. Thursday, Fishback said he was invited to debate Tesla with his old boss, saying Einhorn didn't understand Musk's company's "core value driver" of autonomy.

Persons: —, David Einhorn, sayer, sneering, Elon Musk, Einhorn, He's, year's Sohn, James Fishback, Fishback's, Fishback, Greenlight, Pharma Bro, Martin Shkreli, — Fishback, Tesla, Fishback —, Free Press —, I'm Organizations: Service, Business, Lehman Brothers, Allied, Tesla, Pharma, Free Press Locations: —, New York, Bari

☆ Trump has promised an immigration crackdown if reelected. That could backfire on the economy
▼ + stars: | 2024-05-14 | by ( Matt Egan | ) edition.cnn.com time to read: +9 min

New York CNN —If voters return former President Donald Trump to the White House, he’s promised to launch an unprecedented crackdown on immigration and even conduct mass deportations. Trump recently told Time that he would aim to deport 15 million to 20 million people, perhaps by using the National Guard. Even though consumer prices are no longer skyrocketing, the cumulative impact of three years of high inflation is painful. “Most Americans view high inflation and high prices as unfair. But immigration remains a major concern for voters in the 2024 election and Trump has made it a centerpiece of his campaign.

Persons: Donald Trump, he’s, Trump, —, Mark Zandi, “ It’s, Joe Brusuelas, ” Brusuelas, You’d, ”, Karoline Leavitt, Joe Biden “, ” Leavitt, “, Joe Biden, Zandi, Trump’s, criminologists, Biden, Jerome Powell, Brusuelas, Goldman Sachs, ” Goldman Sachs, Wendy Edelberg, Edelberg, that’s Organizations: New, New York CNN, White, National Guard, Federal Reserve, CNN, RSM, Trump, Social Security, University of Michigan, Labor Department ., The Hamilton, ”, Hamilton, Security, Congressional, Office, The Hamilton Project, Brookings Institution Locations: New York, China, Covid, Mexico, United States

☆ Why America Still Can't Get Rid of High Prices, Inflation
▼ + stars: | 2024-05-13 | by ( Neil Dutta | ) www.businessinsider.com time to read: +9 min

Typically, price increases are a slow-moving process, so it is rare to see core inflation accelerate this much this quickly. The Survey of Professional Forecasters has found longer-run expectations for inflation have leveled out at 2% — the Fed's target. These one-offs have had an outsize impact on the overall inflation picture. Ahead of 2024, the contribution from acyclical components to core inflation was essentially zero. The strong growth in private demand suggests that second-quarter GDP could be even more robust.

Persons: I've Organizations: America, Federal Reserve, PCE, Atlanta Fed Locations: Real

☆ Meet the group preparing for a Soviet Union-type collapse of the US economy
▼ + stars: | 2024-05-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the people preparing for the collapse of the financial system . The big storyPreparing for the worstAdobe; Chelsea Jia Feng/BIOpinions fluctuate on the economy, but one group has a decidedly strong take. In the subreddit r/economiccollapse, users are preparing for a Soviet Union-type fall of the US economy , writes Business Insider's Jennifer Sor. Further down the economic totem pole, ALICEs (asset limited, income constrained, employed) are struggling to make ends meet . 3 things in techAlex Wong/Getty Images, STR / Contributor/Getty Images, Stephane De Sakutin/Contributor/Getty Images, Abanti Chowdhury/BIHow Mark Zuckerberg turned against the news.

Persons: —, Chelsea Jia Feng, Jennifer Sor, Jennifer, aren't, Tyler, there's, Neil Dutta, Jim Simons, annualized, Alex Wong, Stephane De Sakutin, Abanti Chowdhury, Mark Zuckerberg, Zuckerberg, Rupert Murdoch, Sam Altman, Alyssa Powell, Rick Doblin, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Business, Chelsea, Macro, Renaissance Technologies, Big Tech, Apple, FDA, FOX Locations: Soviet Union, China, Washington, Beijing, New York, London, Chicago

☆ S&P 500 rebounds to less than 1% from a record after orderly three-week pullback
▼ + stars: | 2024-05-11 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The five-month, 28% sprint from the October correction low to the record high on the last trading day of the first quarter left the S & P 500 overbought, overheated and over-loved. .SPX YTD mountain S & P 500, YTD So far, so good, three weeks down and now three weeks up, taking the S & P 500 back to within 1% of its March 28 peak. More specifically, he tracks the correlation between S & P 500 and the Citi Economic Surprise Index. Fidelity Investments head of global macro Jurrien Timmer fashioned this look at the path of S & P 500 earnings heading into and through each calendar year, with 2024 holding up better than 2023 was last year at this time. The last time the S & P 500 was at today's level above 5200 in late March, the 12-month forward price/earnings multiple was 21.

Persons: that's, Jerome Powell, Scott Chronert, It's, Powell, Lori Calvasina, we've Organizations: U.S, Bank, Citi, Citi U.S, Fidelity Investments, Treasury, RBC Capital

☆ Here are Thursday's biggest analyst calls: Apple, Sunrun, Costco, Arm, Fox, Robinhood, Airbnb & more
▼ + stars: | 2024-05-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Goldman Sachs reiterates Sunrun as buy Goldman said it's sticking with its buy rating following earnings on Wednesday. " JPMorgan reiterates SolarEdge as overweight JPMorgan said it's sticking with its overweight rating following earnings on Wednesday. " Citi reiterates Airbnb as buy Citi said it's standing by its buy rating on shares of Airbnb following earnings on Wednesday. JPMorgan reiterates Instacart as overweight JPMorgan said it's sticking with its overweight rating on shares of Instacart following earnings on Wednesday. Bank of America reiterates Apple as buy Bank of America said it's sticking with its buy rating following data showing App Store strength.

Persons: Goldman Sachs, Sunrun, Goldman, JPMorgan, SEDG, Shopify, Redburn, Mizuho, Robinhood, Airbnb, Davidson downgrades TripAdvisor, Raymond James, Fox, Cantor Fitzgerald, Cantor, EVGO, it's, Wolfe, Skyworks, SWKS, we're Organizations: JPMorgan, Bloomberg, Holdings, Deutsche Bank, Emerson, Deutsche, Citi, Bank of America, Fox, of America, Solutions, Barclays, UBS, Costco, Apple Locations: EBITDA

☆ Why investors should buy the 10% drop in Disney, according to Barclays
▼ + stars: | 2024-05-08 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

The selloff in Walt Disney shares after the release of its latest earnings on Tuesday was "overdone," according to Barclays, which is bullish on the company's streaming results. Shares tumbled nearly 10% Tuesday after Disney missed revenue estimates for a fourth quarter in a row. DIS 1Y mountain Disney shares over the past 12 months. He said he is optimistic about Disney's streaming segment results. Down the line, Disney's streaming margins could potentially top those of Netflix, he added.

Persons: Kannan Venkateshwar, Venkateshwar, — CNBC's Michael Bloom Organizations: Walt Disney, Barclays, Disney, DIS, Netflix, Comcast, Hulu Locations: India

☆ Wall Street analyst jumps to Disney's defense — plus, why Broadcom is bucking the chip decline
▼ + stars: | 2024-05-08 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Both Arista and Broadcom are on the Ethernet side of AI networking," Jim Cramer said. 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, we'll, Laxman, Narasimhan, Howard Schultz, Jim Cramer's, Jim Organizations: CNBC, Dow, Dow Jones, Nasdaq, Broadcom, Arista Networks, Arista, Starbucks, Barclays, Disney, Arm Holdings, Warner Bros, Constellation Energy, Jim Cramer's Charitable

☆ Jim Cramer says patience in Wynn Resorts will be rewarded after surprise post-earnings drop
▼ + stars: | 2024-05-08 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Considering we sold stock twice last month at higher prices, we're interested in buying some of it back. 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, drugmaker Merck, Jim, I'm, we're, Disney, Jim Cramer's Organizations: CNBC, Dow Jones Industrial, Dow, Wynn Resorts, Walt Disney, Disney, DIS Locations: U.S, China's Macao

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Nike, Rivian, Reddit, Disney, Micron, Redfin, Block, Ferrari & more
▼ + stars: | 2024-05-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Bank of America reiterates Apple as buy Bank of America is sticking with its buy rating on shares of Apple after its Tuesday iPad event. Bank of America reiterates Rivian as buy Bank of America said it's standing by the EV maker following earnings on Tuesday. " Bank of America initiates Sutro as buy Bank of America said it's bullish on shares of the biotech company. Deutsche Bank upgrades Boston Beer to hold from sell Deutsche upgraded the stock mainly owing to valuation. Bank of America reiterates Nvidia and Micron as buy Bank of America said it's sticking with buy ratings on both Nvidia and Micron.

Persons: Wells, Baird, Apple, Morgan Stanley, NKE, Reddit, Rivian, RIVN, Rosenblatt, Raymond James, it's, Roth, SHLS, Goldman Sachs, Goldman, ZI, YTD, Stephens, Ferrari Organizations: Hexcel Corporation, Old Dominion, Bank of America, Apple, Nike, Citi, Barclays, Disney, Nasdaq, JPMorgan, VMware, Broadcom, Deutsche Bank, Boston Beer, Deutsche, Nvidia, Micron, AMD, ARM, MU, Garden Entertainment, Knicks, Rangers, UBS, Ferrari Locations: Old, Disney, Datadog, RDFN

☆ Stanley Druckenmiller cut his Nvidia stake in late March, says AI may be a bit overhyped short term
▼ + stars: | 2024-05-07 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Billionaire investor Stanley Druckenmiller revealed Tuesday that he has slashed his big bet in chipmaker Nvidia earlier this year, saying the swift artificial intelligence boom could be overdone in the short run. "We did cut that and a lot of other positions in late March. "I'm not Warren Buffett; I don't own things for 10 or 20 years. I wish I was Warren Buffett," he added. Nvidia has been the primary beneficiary of the recent technology industry obsession with large artificial intelligence models, which are developed on the company's pricey graphics processors for servers.

Persons: Stanley Druckenmiller, We've, Druckenmiller, I'm, Warren Buffett Organizations: Nvidia

☆ Please, no more naked dresses at the Met Gala
▼ + stars: | 2024-05-07 | by ( Anneta Konstantinides | ) www.businessinsider.com time to read: +5 min

Naked dresses once again dominated the Met Gala red carpet on Monday night. AdvertisementAnother year, another sea of naked dresses at the Met Gala. John Shearer/Getty ImagesThis isn't to say some of those naked dresses haven't been standout looks — quite a few ended up on our list of the best Met Gala outfits of all time. Dimitrios Kambouris/Getty ImagesAnd unexpected might be the perfect word to describe what's been missing from so much of fashion lately, especially at the Met Gala. So, let's give the naked dresses a rest and bring some surprise back to the Met Gala.

Persons: Kim Kardashian, Jennifer Lopez, —, you'd, hasn't, It's, John Shearer, haven't, Emily Ratajkowski, Cher, Bob Mackie, Mackie, Ron Galella, Kate Moss, Liza Bruce, Rihanna, Alo Ceballos, Christian Siriano, Elle Fanning deservedly, J.G, Ballard, Elle Fanning, Jamie McCarthy, Dynevor's, Victoria Beckham, Beckham, Phoebe Dynevor, Dimitrios Kambouris, what's, Guo Pei Organizations: Service, Time Magazine, Vogue, Getty, Google

☆ Disney shares tumble on light guidance. But here's why we're raising our price target
▼ + stars: | 2024-05-07 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Disney Why we own it: We value Disney for its best-in-class experiential entertainment Parks business, which has proven to have immense pricing power. In the second quarter, the combined business — Disney+, India's Disney+ Hotstar, Hulu and ESPN+ — saw losses of $18 million, far better than the $659 million loss in the year-ago period. DTC profitability benefited from Disney+ core subscriber growth, higher retail subscription prices, increased advertising revenue on the back of higher impressions, and lower distribution costs. Clearly, Disney still has a big opportunity in sports as they execute on their DTC streaming strategy for ESPN. The atmosphere at the Disney Bundle Celebrating National Streaming Day at The Row in Los Angeles on May 19, 2022.

Persons: —, Nelson Peltz, wouldn't, Hugh Johnston, Jim Cramer's, Jim Cramer, Jim, Presley Ann Organizations: Club, Revenue, LSEG, Disney, Parks, ESPN, Comcast, Netflix, Warner Bros Discovery, Paramount Global, CNBC, seasonality, Entertainment, Hulu, Hulu Live, Sports ESPN, College Football, National Football League, Walt Disney World, Disney Cruise, Disneyland, Hong Kong, Getty Locations: Hulu, India, Florida, California, Hong, Los Angeles

☆ Apple iPhone weakness in China is overdone, says Wells Fargo analyst
▼ + stars: | 2024-05-03 | 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 EmailApple iPhone weakness in China is overdone, says Wells Fargo analystAaron Rakers, Wells Fargo Securities managing director, joins 'Fast Money' to talk the bull case for Apple, iPhones and AI, and what's ahead for the tech company.

Persons: Wells, Aaron Rakers Organizations: Wells Fargo Securities, Apple Locations: China, Wells Fargo

☆ Here are Friday's biggest analyst calls: Apple, Target, Coinbase, Berkshire Hathaway, Estee Lauder & more
▼ + stars: | 2024-05-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

JPMorgan upgrades Williams-Sonoma to neutral from underweight JPMorgan said in its upgrade of the stock that the home furnishings category is stabilizing. "We are downgrading shares of EXPE to Mkt Perform from OP with a target price of $145 vs. $165 previously." JPMorgan upgrades Joby to neutral from underweight JPMorgan said its bear thesis has largely played out for the aviation company. Guggenheim reiterates Target as buy Guggenheim said investors should buy the dip in shares of Target . Morgan Stanley downgrades Estee Lauder to equal weight from overweight Morgan Stanley said it sees a slower recovery for shares of Estee Lauder .

Persons: Stifel, Wells, Truist, OLLI, Guggenheim, Tim Cook, William Blair, Amgen, Jefferies, We've, Ari sta, it's, Morgan Stanley downgrades Estee Lauder, Morgan Stanley, Estee Lauder, TD Cowen, Parsons, Bernstein, Oppenheimer, CFRA, Berkshire Hathaway Organizations: RBC, FTAI Aviation, Pacific, Union Pacific, JPMorgan, Williams, WSM, BMO, Bank of America, Apple, Kiniksa Pharmaceuticals, JOBY, Guggenheim, Target, Citi, MCW, Arista, PSN, Avidity, ~$ Locations: Sonoma, EXPE, GEICO

☆ The fall of Gucci was inevitable
▼ + stars: | 2024-05-03 | by ( Madeline Berg | ) www.businessinsider.com time to read: +13 min

"We got used to hearing about double-digit growth at Gucci," Fflur Roberts, the head of luxury goods at Euromonitor, told Business Insider. "I think of what a fashion editor is wearing — it's not Gucci," Lindsey Solomon, a fashion publicist, told BI. After taking the top spot on the Lyst Index of fashion's hottest brands in 2022, Gucci dropped to number 11 last quarter. "We still believe the Gucci brand's current growth rate, which is 10 times higher than that of the industry, represents a risk going forward," Morningstar's Sokolova wrote in a 2017 note. Gucci relied heavily on China for its growth, but stores — perhaps including this one in China's Hainan Province — have struggled recently.

Persons: Alessandro Michele's, loafers, Gigi Hadid, Sienna Miller, Steve Madden, ASOS, Sally Singer, Michele, Fflur Roberts, Alessandro Michele, Harry Styles, Billie Eilish, Jared Leto, Kevin Mazur, Bauer, Griffin, Jeff Kravitz, Gucci, Sabato De Sarno, Lindsey Solomon, De Sarno, François, Henri Pinault, China —, Jelena Sokolova, Solomon, Daniele Venturelli, Michele —, Sokolova, It's, Thomas Chauvet, Morningstar's Sokolova, Michele's Gucci, wasn't, Jeremy Moeller, Chauvet, Roberts, Chanel, Gucci's, Gucci hadn't, Hermès, Birkin, Louis Vuitton's Neverfull, Pinault, Louis, Euromonitor's Roberts Organizations: Creative, Gucci, The Recording Academy, Axelle, Morningstar, BI, Citi, Disney, Getty, Revenue, China News Service, Bain, Louis Vuitton Locations: Euromonitor, China, The Asia, Pacific, China's Hainan Province, Asia

☆ Estee Lauder is punished for its light guidance. Here's why we are not joining the sellers
▼ + stars: | 2024-05-01 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Estee Lauder tumbled Wednesday as investors focused on the company's weak fiscal fourth-quarter outlook instead of its strong third-quarter numbers. Estee Lauder Why we own it: We see profitability improving as management executes on its turnaround plan and works to improve gross margin performance. These are signs the worst should be behind Estee Lauder. While full-year adjusted earnings are still expected to decline on an annual basis, Estee Lauder encouragingly bumped up its outlook. An Estee Lauder pop-up store is seen inside daimaru Department Store on Nanjing Road Pedestrian street in Shanghai, China, August 6, 2021.

Persons: Estee Lauder, Fabrizio Freda, Freda, Estee Lauder encouragingly, we're, That's, Estee, Jim Cramer's, Jim Cramer, Jim Organizations: Revenue, LSEG, L'Oreal, Chanel, Body, Street, Management, Wall, Japan, CNBC, daimaru, Getty Locations: LVMH, —, Asia, North America, Latin America, Mexico, Brazil, Hong Kong, China, Japan, Mainland China, Nanjing, Shanghai

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