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The dollar edged up on Monday after a mixed U.S. jobs report on Friday sent the U.S. currency to a one-week low, with market focus turning to inflation data from the world's two largest economies due this week. U.S. inflation data is due on Thursday, where expectations are for core inflation to have risen 4.7% on an annual basis in July. Against the dollar, the euro fell 0.4% to $1.0966, marching towards a one-month low. The Chinese yuan hovered near a two-week low, with its offshore counterpart last 0.2% lower at 7.2034 per dollar. The yen fell 0.4% to 142.28 per dollar after hitting a one-week high of 141.52 per dollar in Asia trade.
Persons: Chris Weston, Weston, Jane Foley Organizations: U.S, ECB, European Central Bank, Rabobank, Bank, Japan, Bank of England, bps Locations: U.S, Germany, China, Asia
In this article GMMSFTSPOTMETADPZ Follow your favorite stocks CREATE FREE ACCOUNTThe Spotify logo on the New York Stock Exchange, April 3, 2018. Here are five stocks chosen by Wall Street's top analysts, according to TipRanks, a platform that ranks analysts based on their past performance. Domino's PizzaMeta PlatformsNext up is Meta Platforms (META). Nonetheless, Goldman Sachs analyst Kash Rangan, who ranks 459th among more than 8,500 analysts tracked on TipRanks, remains bullish on MSFT stock. However, he observed that historically, whenever Microsoft increased its capital expenditure in the cloud market, Azure growth rate shot up meaningfully and margins rebounded, driving the stock price higher.
Persons: Lucas Jackson, Wall, Brian White, White, Goldman Sachs, Kash Rangan, Rangan Organizations: GM, New York Stock Exchange, Reuters, Meta, TipRanks, Spotify, Microsoft, General
Economic releases : The Labor Department releases its monthly consumer price index and producer price index on Thursday and Friday, respectively. For that reason, we'd be content if the July figure doesn't indicate a resurgence of rising wholesale costs, which is a concern given a recent uptick in energy prices. On Tuesday before the opening bell, Club holding Eli Lilly (LLY) reports. Finally, Club names Walt Disney (DIS) and Wynn Resorts (WYNN) will report on Wednesday after the closing bell. In preparation for these releases, be sure to check out our first-quarter earnings report card .
Persons: we'll, Knight, Eli Lilly, We'll, donanemab, Walt Disney, We're, Tyson, Henry Schein, Li Auto, Armour, WEN, Ralph Lauren, Price, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Labor Department, Reserve, Manufacturing, ADP, Fitch, AAA, U.S ., PPI, Coterra Energy, Walt, Wynn Resorts, Disney, Tyson Foods, TSN, KKR, Energy, Paramount, UPS, Barrick, Duke Energy, Restaurant Brands, Warner Music, Fox Corp, NRG Energy, AMC, Bros, Endeavor, IAC, Sony, SONY, Brookfield Asset Management, WYNN, Trade, Novo Nordisk, US Foods, News Corp, Air Canada, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Getty Locations: United States, Mounjaro, Hollywood, Las Vegas, Boston, Macao, PENN, Valvoline, VVV, Credicorp, New York City
Some student-loan companies are encouraging federal borrowers to refinance before the payment restart. Companies that manage private loans have started reaching out to federal borrowers, encouraging them to refinance their federal debt to get a better deal on payments. For example, SoFi — a student-loan refinancing company — sent letters to borrowers last month with a header reading, "Federal student loan forbearance is ending soon. Consumer Financial Protection Bureau Advisor to the Director Andrea Matthews told Insider in September that "the benefits to having a federal student loan have never been more tangible. Before federal payments resume in October, borrowers can enroll in the Education Department's new SAVE Plan, which is an income-driven repayment plan intended to lower monthly payments.
Persons: Joe Biden's, It's, , forbearance, Biden's, Earnest, refinancer, refinancers, Andrea Matthews, Tanya Burnett, Burnett Organizations: Service, Education Department, Public, Biden, Consumer Financial Locations: Wall, Silicon
A Ukrainian TV presenter lost an eye and in a suspected assassination attempt last year. She mounted a comeback, appearing on the cover of Playboy in an armored bikini and eye patch. The issue is dedicated to the resilience of Ukrainian women who injured during the war. Clad in an armored bikini and eye patch, Bilotserkovets appeared on the cover of the first edition of Playboy Ukraine to print since Russia's full-scale invasion in February 2022. Playboy Ukraine said in a statement that Bilotserkovets was featured as part of their "Women Stay Strong" edition.
Persons: Iryna Bilotserkovets, Bilotserkovets, Volodymyr Zelenskyy, Fighting Organizations: Playboy, Service, British, Kyiv, Telegraph Locations: Ukrainian, Wall, Silicon, Kyiv, Playboy Ukraine, Russia, Russian, Ukraine
Advances in machine vision, like the astonishingly powerful image-recognition capabilities of modern A.I., are erasing even these human actors from the equation. A blind beta tester pointed his camera at a frozen meal, and the A.I. read him the description of the contents on the package, including the date of expiration and the size of the meal. As delighted as blind beta testers of OpenAI’s visual interpreter were, it also made some obvious mistakes: As Kashmir Hill recently reported in The New York Times, OpenAI confidently described a remote control for a blind user, including descriptions of buttons that weren’t there. (According to the World Blind Union, 95 percent of the world’s published knowledge is “locked” in inaccessible print formats.)
Persons: OpenAI’s GPT, OpenAI, , I’d, Lily, Oscar, who’s Organizations: Virtual Volunteer, The New York Times, World Blind Union, Facebook Locations: Kashmir, The
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. All eyes will be squarely on the July U.S. nonfarm payrolls report, due at 8:30 a.m. ET, with a Reuters poll of economists estimating payrolls increased by 200,000 jobs last month, after having risen 209,000 in June, showing labor market conditions remain tight. "Today's NFP data would be important for setting the market tone for the coming weeks," Jefferies strategist Mohit Kumar said. ET, Dow e-minis were up 10 points, or 0.03%, S&P 500 e-minis were up 8.5 points, or 0.19%, and Nasdaq 100 e-minis were up 44.25 points, or 0.29%.
Persons: Brendan McDermid, Amazon's, nonfarm, Jefferies, Mohit Kumar, Stocks, DraftKings, Shubham Batra, Bansari, Savio D'Souza, Shounak Organizations: New York Stock Exchange, REUTERS, Apple Futures, Dow, Nasdaq, Amazon.com, Microsoft, Labor Department, Fitch, AAA, Dow e, Horizon Therapeutics, Sports, Thomson Locations: New York City, U.S, States, Bengaluru
Sterling traded higher after recovering knee-jerk losses following the Bank of England's decision to downshift to a quarter point rate hike on Thursday. The U.S. dollar index , which gauges the currency against a basket of six counterparts, edged 0.06% lower to 102.39 in Asia. On Thursday, it had pushed to the highest since July 7 at 102.84 at one point, but lost steam later in the day with the monthly nonfarm payrolls report looming on Friday. The dollar slipped slightly to 142.40 yen , as long-term Treasury yields - which the currency pair tends to track closely - retreated from Thursday's nearly nine-month high at 4.198% in Tokyo trading. At the same time, "unless or until what's been happening with Treasury yields reverses, there's no meaningful prospect of dollar-yen coming down here, unless we see a very dramatic deterioration in risk sentiment," he added.
Persons: Dado Ruvic, Sterling, Kristina Clifton, BoE, Ray Attrill, Attrill, Kevin Buckland, Brigid Riley, Jacqueline Wong Organizations: REUTERS, Bank of, of, U.S, Commonwealth Bank of Australia, National Australia Bank, European Central Bank, Thomson Locations: China, Asia, Thursday's, Tokyo, U.S
‘Going Concern,’ Going Bust
  + stars: | 2023-08-04 | by ( Jason Karaian | ) www.nytimes.com   time to read: 1 min
A going concern is a company that will continue to operate for at least a year. But the term is rarely brought up unless a company is in trouble — that is, in cases where it has doubts it could continue as a going concern. If managers or auditors believe that a company is at risk of going bust within 12 months, they are required to formally express that doubt in their financial accounts. The dreaded warning, usually buried in the fine print, often leads to sharp declines in a company’s stock price, angst for creditors and worries among employees. As companies have been upended by the pandemic, high inflation and pummeled by rising interest rates, going-concern warnings in company filings have spiked, according to Audit Analytics, a research firm.
AAPL YTD mountain Apple stock was trading lower after quarterly results. Apple doesn't provide official forward guidance and has not done so since 2020 over macroeconomic uncertainty. Morgan Stanley's Erik Woodring reiterated an overweight rating on Apple but lowered his price target to $215 from $220. Bank of America's Wamsi Mohan remained neutral on Apple, accompanied by a $210 price target that equates to roughly 10% upside. Rakers maintained an overweight rating on Apple stock with a $225 price target, or about 18% upside from Thursday.
Persons: Apple, Luca Maestri didn't, Apple doesn't, Morgan Stanley's Erik Woodring, Woodring, Morgan Stanley, America's Wamsi Mohan, Mohan, Citi's Atif Malik, Malik, Wells, Aaron Rakers, JPMorgan's Samik Chatterjee, Chatterjee, Goldman Sachs, Michael Ng, Apple's, Ng, — CNBC's Michael Bloom Organizations: Apple, America's
Late Thursday, the company posted a loss of 42 cents per share on revenue of $708 million for the second quarter. Analysts surveyed by Refinitiv expected a loss of 77 cents per share on revenue of $633 million. However, trading volumes have remained low, even as the crypto market is enjoying a couple of nice rallies this year. "Until we see evidence of mass adoption of crypto for everyday utility, we believe fundamentals will remain challenged, and thus we remain Sell rated [on Coinbase]." "While Coinbase is taking industry market share on the deterioration of business at Binance, it seems to be under-growing certain smaller domestic platforms, reflecting a different sort of competitive landscape."
Persons: Crypto, Coinbase, Goldman Sachs, Refinitiv, Will Nance, Nance, Needham, Binance, Piper Sandler, Raymond James, Michael Bloom Organizations: U.S . Securities, Exchange, SEC, BTC, JPMorgan, Bank of America Locations: Wall, Binance, Underperform
In a jam-packed week of earnings, the Club executed multiple trades and elevated price targets for some of our biggest stocks. Following AMD's better-than-feared Q2 release late Tuesday, we raised our price target on the stock to $135 per share from $120. Wednesday On this relatively calm day, we reiterated our 1 rating and $110 price target on shares of Emerson Electric (EMR). Against this bullish backdrop, we raised our price target on Amazon to $160 per share, up from $140. Our previous price target was $185.
Persons: Here's, Johnson, Stanley Black, Decker, Jim Cramer, AMD's, Emerson, , it's, Eli Lilly, LLY, Walt Disney, We'll, Jim Cramer's, Jim, Jim Cramer Rob Kim Organizations: Club, Microsoft, GE Healthcare, GE, Honeywell International, Caterpillar, Devices, Honeywell, Turnaround, AMD, Emerson Electric, National, Big Tech, Apple, Coterra Energy, Wynn Resorts, WYNN, Jim Cramer's Charitable, CNBC Locations: MSFT, GEHC, Missouri
On Tuesday, Fitch, one of the Big Three credit rating agencies, startled many observers by downgrading U.S. debt. America issues debt in dollars, which it can also print. That doesn’t necessarily mean that we can’t have solvency problems or that the level of government debt is necessarily irrelevant. But it’s much harder to tell a plausible story about a U.S. debt crisis than many people realize, and both arithmetic and history suggest that such a crisis is unlikely to happen for the foreseeable future. But history and the experience of other countries suggest that we’re still a long way from that limit.
Persons: Fitch, I’ll Organizations: Biden Locations: Greece
Cody Berman is no stranger to side hustles. Today, Berman makes his money selling digital products like an online course and printables people buy on Etsy and print on their own. He's also in real estate, renting out long-term properties and short-term housing in New England. Given his years of dabbling, Berman's gleaned some insights about side hustles. Here's how to find the most lucrative hustle for you.
Persons: Cody Berman, Berman, He's Organizations: University of Massachusetts Locations: Amherst, New England
Meme-stocks are making a comeback as investors send shares of troubled companies higher. Tupperware and Yellow have both seen their share prices surge by more than 800% over the past week. The rallies suggest that investors are willing to take on more risk after the broader stock market moved higher. Shares of Yellow have surged as much as 1,062% from its July 27 low, while shares of Tupperware have jumped as much as 869% from its July 19 low. Despite the latest meme-stock surges, shares of Tupperware are still 73% below their 52-week high, while Yellow is 54% below its 52-week high.
Persons: Tupperware Organizations: Service, Yellow Corporation, Tupperware, Nasdaq Locations: Wall, Silicon, Tupperware
Wall Street analysts are bullish on Amazon heading into earnings. Here's how several analysts are trading Amazon ahead of its latest earnings report. Bank of America is also bullish, maintaining its buy rating and $154 price target into earnings, which suggests roughly 20% upside. "We continue to see an attractive set-up on the stock based on our Triple Trough Thesis (trough multiple, trough margin, and trough revenue growth). On Monday, the firm reiterated its buy rating and $145 price target, which suggests 13% upside from Wednesday's close.
Persons: StreetAccount, Morgan Stanley, Brian Nowak, Nowak, Lloyd Walmsley, Walmsley, Justin Post, Amazon's, Mark Mahaney's, Mahaney, — CNBC's Michael Bloom Organizations: Amazon Web Services, UBS, Bank of America, AWS, Triple, Citi Locations: 1Q23
Compared to other heavy hitters from the golden age of French cinema — think Jean Renoir (“The Rules of the Game”) or Marcel Carné (“Children of Paradise”) — history hasn’t been kind to Jean Grémillon. This is especially the case in the United States, where the director’s work continues to be discussed among cinephiles like a special secret. “Lady Killer” stars the leonine Jean Gabin as Lucien, a womanizing legionnaire. Lucien falls hard for Madeleine and takes up a job at a print shop in Paris so that they can be together. In his early days, Grémillon was a violinist who played with an orchestra that provided accompaniment for silent films.
Persons: Jean Renoir, Marcel Carné, Jean Grémillon, , Victor ”, , Jean Gabin, Lucien, Madeleine, Mireille Balin, Grémillon Locations: United States, France, Paris
Revenue in Apple's fiscal third quarter of $81.8 billion edged down 1% but edged out expectations of $81.69 billion. Gross margin was 44.5%, expanding 126 basis points from a year ago and coming in slightly above the 44.3% estimate. However, as we've noted before, the installed base represents the outlet for Apple's higher margin, recurring revenue Services business. Cash flow & capital allocation In its June quarter, Apple generated operating cash flow and free cash flow results that were well above what the Street was looking for. Guidance For the current September quarter, Apple expects year-over-year revenue performance to be similar to the June quarter, assuming no worsening macro outlook.
Persons: we've, Apple, we're, it's, Jim Cramer's, Jim Cramer, Jim, Jakub Porzycki Organizations: Apple, Services, Management, Greater, Apple Watch, CNBC, Nurphoto, Getty Locations: Greater China, Europe, Americas
TD Cowen upgrades Ross to outperform from market perform TD Cowen said consensus is "underestimating [a] margin recovery" for Ross. TD Cowen downgrades Columbia to market perform from outperform TD Cowen said demand looks muted for Columbia Sportswear . Bernstein downgrades Etsy to market perform from outperform Bernstein said it's concerned about slowing growth. Piper Sandler reiterates Crocs as overweight Piper Sandler said the shoe company is "underpinned by +DD [double digit] earnings growth and compelling valuation." Citi reiterates Apple as buy Citi said it's standing by its buy rating heading into Apple earnings after the bell.
Persons: TD Cowen, Ross, Cowen, Bernstein, Etsy, it's, Piper Sandler, Crocs, CROX, QCOM, Jefferies, Simon, Telsey, Roblox, Morgan Stanley, Robinhood, Janney, Coke Organizations: TD Cowen downgrades Columbia, Columbia, Buyers, Citi, Deutsche Bank, Qualcomm, Apple, Simon, Bank of America, UBS, Costco Locations: underperform, Wingstop, 1Q22
Another possible catalyst is the monetization of BHC's Bausch + Lomb (BLCO) stake. Bausch + Lomb update On the earnings release, management highlighted a change in thinking about how to handle their stake in Bausch + Lomb. We'll be on the lookout for more information on the Bausch + Lomb situation in the coming days. Guidance BHC management raised their full-year revenue guidance for 2023 while reaffirming their adjusted EBITDA outlook. Excluding Bausch + Lomb, the team now expects full-year revenue to be in the range of $4.5 billion to $4.65 billion.
Persons: it's, Refinitiv, BHC's Bausch, Bausch, We'll, Generics, Jim Cramer's, Jim Cramer, Jim, Rafael Henrique Organizations: Health, Bausch Health, Management, Bausch Health Companies, BHC's, Dentistry, CNBC Locations: BHC, Bausch, East, Africa, Canada, Asia, China
Several analysts remain bullish, hiking their price targets in the weeks leading up to Apple's earnings report — despite the stock's 50% runup so far this year. His $220 price target suggests the stock can rally more than 12% from Tuesday's close. Bank of America remains neutral on the stock, but boosted its price target to $210 on July 19. His price target of $149 suggests nearly 24% downside. Her price target of $190 suggests roughly 3% downside from Tuesday's close.
Persons: Samik Chatterjee, Chatterjee, Morgan Stanley, Erik Woodring, Goldman Sachs, Michael Ng, Apple, Wamsi Mohan, Mohan, Tim Long, Grace Chen, Chen, Piper Sandler, TD Cowen, Baird, — CNBC's Michael Bloom, Kif Leswing Organizations: Apple, JPMorgan, Services, Bank of America, Barclays, UBS Locations: Apple's, Tuesday's, Asia
Here are Wednesday's biggest calls on Wall Street: Citi upgrades Advanced Micro Devices to buy from neutral Citi upgraded the chipmaker after its better than expected earnings report. Citi reiterates Home Depot as buy Citi said it's standing by its buy rating on the stock heading into earnings later this month. " Goldman Sachs reiterates SolarEdge as buy Goldman said it's standing by its buy rating on SolarEdge after its earnings report on Wednesday. "We maintain our Underperform rating as we remain concerned regarding the long-term prospects of the space tourism market. Needham reiterates Meta as underperform Needham said it's standing by its underperform rating on the stock.
Persons: Canaccord, Baird, Harry Sommer, BTIG, Wolfe, William Blair downgrades Bloomin, William Blair, Goldman Sachs, SolarEdge, Goldman, Bernstein, Uber, DJ Khaled, Mizuho, SoFi, SOFI, Rosenblatt, it's, Pinterest, Needham, underperform Needham Organizations: Citi, Devices, AMD, JPMorgan, Apple, Services, Oshkosh, Susquehanna, Mizuho, Bank of America, Virgin Galactic, underperform Bank of America, Meta Locations: 3Q23, Oshkosh, Norwegian
Software-as-a-service company Freshworks has several positive catalysts ahead, according to Canaccord Genuity. He also increased his price target to $25 from $15. The new price target implies 37% upside from where shares closed on Tuesday. The company is "bringing it all together — [Go-to-market (GTM)] enhancements, operating efficiency, AI products and more," Hynes added. Freshworks' operating margins in the second quarter demonstrated significant upside and improved marketing and sales efficiency, Hynes said.
Persons: Freshworks, Canaccord, David Hynes, Hynes, Freddy Self, — CNBC's Michael Bloom Organizations: Service Locations: Freshworks
Several analysts remain bullish, hiking their price targets in the weeks leading up to Apple's earnings report — despite the stock's 50% runup so far this year. His $220 price target suggests the stock can rally more than 12% from Tuesday's close. Bank of America remains neutral on the stock, but boosted its price target to $210 on July 19. His price target of $149 suggests nearly 24% downside. Her price target of $190 suggests roughly 3% downside from Tuesday's close.
Persons: Samik Chatterjee, Chatterjee, Morgan Stanley, Erik Woodring, Goldman Sachs, Michael Ng, Apple, Wamsi Mohan, Mohan, Tim Long, Grace Chen, Chen, Piper Sandler, TD Cowen, Baird, — CNBC's Michael Bloom, Kif Leswing Organizations: Apple, JPMorgan, Services, Bank of America, Barclays Locations: Apple's, Tuesday's, Asia
Thomson Reuters' profit beats estimates; outlook steady
  + stars: | 2023-08-02 | by ( Helen Coster | ) www.reuters.com   time to read: +4 min
The Thomson Reuters logo is pictured on a building in the Manhattan borough of New York City, New York, U.S. November 16, 2021. The news and information company reported adjusted earnings of 84 cents per share, 6 cents ahead of estimates. Total revenue rose 2% in the quarter to $1.65 billion, slightly missing expectations, according to Refinitiv. Thomson Reuters maintained its full-year 2023 outlook for organic revenue, adjusted EBITDA margin and free cash flow. Reporting by Helen Coster Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.
Persons: Carlo Allegri, divestitures, Steve Hasker, Thomson, , Michael Eastwood, Hasker, Eastwood, Helen Coster, Nick Zieminski Organizations: Thomson Reuters, REUTERS, Thomson Reuters Corp, Accounting, company’s Elite, TPG, London Stock Exchange, Reuters News, Thomson Locations: Manhattan, New York City , New York, U.S, Britain, California
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