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☆ Tesla tanks 13% after earnings, dragging other EV stocks lower
▼ + stars: | 2024-07-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Tesla's stock dropped as much as 13% on Wednesday after reporting weak second-quarter earnings. AdvertisementTesla stock tumbled as much as 13% on Wednesday after the company's second-quarter results offered limited reassurance to eager investors. It marked the fourth straight quarter Tesla has fallen short of analyst forecasts. The taxi's unveiling, seen by many on Wall Street as a major AI-driven catalyst for Tesla, was originally scheduled for next month. "Tesla's muddling through the EV recession," Morgan Stanley analyst Adam Jones wrote, citing a quarter-over-quarter drop in capital expenditures.

Persons: Tesla, —, Elon Musk, Morgan Stanley, Adam Jones, Nikola, Dan Levy, Tesla's, Cantor Fitzgerald, Andres Sheppard, Gene Munster, Dan Ives, Sheppard Organizations: Service, EV, General Motors, Buick, Barclays, Deepwater Asset Management, Wedbush Securities, Tesla

☆ Opinion | How Long Will A.I.’s ‘Slop’ Era Last?
▼ + stars: | 2024-07-24 | by ( David Wallace-Wells | ) www.nytimes.com time to read: +2 min

investments might be three times as large as expected returns, while another analyst, in several assessments published by Sequoia Capital, calculated that investments in A.I. (He called this “A.I.’s $600 billion question” and warned of “investment incineration.”) In a similarly bearish Goldman Sachs report, the firm’s head of global equity research estimated that the cost of A.I. “Replacing low-wage jobs with tremendously costly technology is basically the polar opposite of the prior technology transitions I’ve witnessed,” he noted. expenditure, more than the United States spends annually on its military, and think: What exactly is that money going toward? slop”: often uncanny, frequently misleading material, now flooding web browsers and social-media platforms like spam in old inboxes.

Persons: Goldman Sachs, ”, Erik Hoel, Anthony Aguirre “, A.I, “, slop, we’ve Organizations: Barclays, Sequoia Capital Locations: A.I, United

☆ Trump's tough trade stance could undercut his plans for a weaker dollar
▼ + stars: | 2024-07-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Donald Trump wants a weaker dollar in order to boost exports for US manufacturers. Other ways Trump could weaken the dollar would also risk raising US debt or inflation, Barclays said. AdvertisementDonald Trump's proposed policies run counter to one another, with his plan to increase trade tariffs complicating his intent to weaken the dollar, Ajay Rajadhyaksha of Barclays wrote in the Financial Times. Other options for weakening the dollar exist, but none come without consequences, the strategist noted. He cited alternative plans: raising US debt could help, at the cost of Treasury market volatility and more inflation pressure.

Persons: Donald Trump, Trump, —, Donald Trump's, Ajay Rajadhyaksha, Rajadhyaksha Organizations: Barclays, Service, Financial Times, Bloomberg, Republican, America, Trump, Federal Reserve, Treasury Locations: stagflation, Japan

☆ Wall Street is hooked on Zyn. Here's how it is handling the shortage.
▼ + stars: | 2024-07-23 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +7 min

Over on Wall Street, the shortage — dubbed the "Zynpocalypse" — has not always been easy, according to finance-industry workers who spoke to BI about their love of Zyn. The sidewalk kiosk sells everything from gum to magazines to the latest New York City tabloid newspapers and is frequented by Wall Street workers, he said. Mark MoranAs Business Insider reported in January, the product has been hot across Wall Street, with sell-side traders ordering it in bulk, so it's always around. Alex NicollMoran quit Wall Street in 2021 and currently runs investor relations firm Equity Animal. "Some of these kids are just doing it because it's become a staple of Wall Street," Moran said of junior bankers in their early 20s.

Persons: —, Philip Morris, Emmanuel Babeau, Phillip Morris, I'm, Morgan Stanley, Nihal, Zyn, Alex Nicoll, Mark Moran, it's, Moran, Lazard, Alex Nicoll Moran, I'd Organizations: Service, Phillip Morris International, Wall Street, Business, BI, Barclays, Sixth, Velo, Lazard, North America, Washington, Equity Locations: Manhattan, New York City, Washington ,, Kentucky, Colorado, Swedish

☆ Asia-Pacific markets trade higher, tracking Wall Street gains
▼ + stars: | 2024-07-23 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

A general view of the Lotte tower amid the the Seoul city skyline and Han river during sunset. Hong Kong's Hang Seng index futures were at 17,741, higher than the HSI's last close of 17,635.88. South Korea's Kospi rose 1.01%, while the small-cap Kosdaq climbed 1.22%. South Korea's producer price index in June rose 2.5% year-on-year, compared to a 2.3% climb in May. According to economists polled by Reuters, the country's consumer price index is expected to climb 2.7% year-on-year.

Persons: Australia's, Narendra Modi's, —, Samantha Subin, Hakyung Kim Organizations: Nikkei, Barclays, Traders, Reuters, Nasdaq, Dow Jones Locations: Seoul, India, Asia, U.S

☆ Barclays raises S&P 500 target to 5,600, sees strong tech earnings ahead
▼ + stars: | 2024-07-23 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Strategist Venu Krishna raised his 2024 S & P 500 target to 5,600 from 5,300. The S & P 500 has already rallied more than 16% year to date, reaching record levels and blowing past many Wall Street estimates. Investors have piled into tech stocks this year amid expectations that artificial intelligence would bolster corporate profits. The S & P 500 tech sector is up 29% in 2024, with AI-related stocks Nvidia and Super Micro Computer more than doubling. Barclays also set its 2025 S & P 500 target at 6,500.

Persons: Venu Krishna, Krishna Organizations: Barclays, CNBC Pro Market, Survey, Big Tech, Nvidia Locations: Monday's

☆ Here are Tuesday's biggest analyst calls: Apple, Nvidia, Tesla, Krispy Kreme, Skechers, Amazon, First Solar, Qualcomm and more
▼ + stars: | 2024-07-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley upgrades Skechers to overweight from equal weight and downgrades Under Armour to underweight from equal weight Morgan Stanley said its Skechers channel checks looked promising. "We initiate coverage of LandBridge (LB) with a Buy rating and a $35 price target following its IPO last month." Morgan Stanley reiterates First Solar as overweight Morgan Stanley said First Solar could benefit from a new Trump administration. Morgan Stanley reiterates Amazon as top pick Morgan Stanley said Amazon is its favorite pick ahead of earnings, but that the firm also likes Alphabet and Meta. Morgan Stanley initiates Alumis as overweight Morgan Stanley said it's bullish on shares of the immunology company.

Persons: TD Cowen, Morgan Stanley, Armour, Bernstein, Apple, Guggenheim, Tesla, Baird, it's, Krispy Kreme, Goldman Sachs, Goldman, Trump, Wells, Piper Sandler, Piper, TD Cowen downgrades Darden, Cowen, Oppenheimer Organizations: Procter, Gamble, HSBC, CrowdStrike, Qualcomm, JPMorgan, Goldman, Barclays, Nvidia, Amazon, Microsoft, Citi, Rio Tinto, Deutsche Bank, Aerospace, Deutsche, Farnborough Air, Darden Locations: Rio, Olive, stagnate

☆ Tesla reports earnings after the bell. Here's what Wall Street has to say
▼ + stars: | 2024-07-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Analysts expect Tesla to post 62 cents in earnings per share on $24.77 billion in revenue. Although the revenue estimate is slightly higher than the $21.30 billion Tesla posted in the first quarter, the earnings forecast is 30% below the previous year. Last quarter, Tesla reported adjusted earnings of 45 cents per share on a 9% decline in revenue to $21.30 billion compared with the fourth quarter. Evercore's Chris McNally also sees further downside to Tesla shares. Jonas holds a $310 price target on Tesla shares, indicating 23% potential upside from Monday's close.

Persons: Tesla, Elon Musk, Ronald Jewsikow, Jewsikow, Dan Levy, Levy, Chris McNally, McNally, Wells, Colin Langan, Langan, Joe Biden's, Morgan Stanley's Adam Jonas, Jonas, — CNBC's Michael Bloom Organizations: Barclays, Tesla, U.S, Trump Locations: Monday's, Wells Fargo

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☆ These 2 key metrics will signal whether small, unloved stocks will continue to beat the market, BofA says
▼ + stars: | 2024-07-22 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The firm is looking at specific levels for the 10-year Treasury yield and manufacturing PMI. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. New research from Bank of America outlined two specific criteria that could serve as signals the rally will continue. AdvertisementMeanwhile, manufacturing PMI fell to 48.5 in June. "The Manufacturing economy is in the second longest downturn in history with 21 months without two straight months of 50+ PMI.

Persons: —, SPW, Russell, Tom Lee Organizations: of America, PMI, Service, Bank of America, Treasury, 6.3ppt, Bank of America Global Research, Federal Reserve, Barclays Locations: outperformance

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☆ Automakers report earnings this week. GM is set to be the standout
▼ + stars: | 2024-07-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

That compares to LSEG estimates for Ford Motor that call for adjusted earnings per share of 68 cents for the second quarter, down 5.2% from the second quarter of 2023. Ford is scheduled to report Wednesday afternoon after markets close, followed by Chrysler parent Stellantis , which reports earnings biannually, releasing its first-half results Thursday morning. Stock Chart Icon Stock chart icon GM, Ford and Stellantis stocks in 2024. "Both are expected to raise 2024 guidance." Evercore still expects a "solid" second quarter for Ford, though, trending toward the upper half of its previously announced 2024 guidance.

Persons: Mary Barra, Ford, Dan Levy, Chris McNally, Itay Michaeli, Jim Farley, Michael Wayland, Carlos Tavares, Natalie Knight, Stellantis Organizations: New York Stock Exchange, NYSE DETROIT —, Motors, Detroit, America's, GM, Ford Motor, Chrysler, Ford, Barclays, Citi, CNBC Locations: Detroit, North America, Europe, Auburn Hills, Mich

☆ Earnings playbook: Your guide to a busy week of earnings, including Alphabet and Tesla
▼ + stars: | 2024-07-21 | by ( Fred Imbert | ) www.cnbc.com time to read: +7 min

What history shows: Data from Bespoke Investment Group shows GM beats earnings expectations 87% of the time. Tesla is set to report earnings after the close. What history shows: Bespoke data shows GM beats earnings expectations 62% of the time. What history shows: Ford earnings exceed estimates nearly 70% of the time, according to Bespoke. This quarter: Earnings for the airline are expected to have fallen more than 10% from the year-earlier period, per LSEG.

Persons: Michael Wayland, Tesla, Elon Musk, Dan Levy, Ben Kallo, Benjamin Black, Jim Farley, Matthew Swanson, Swanson, AAL, Leslie Josephs Organizations: Big Tech, Google, Ford Motor, IBM, General Motors, CNBC, Tuesday, GM, Investment Group, LSEG, Barclays, Energy, Deutsche Bank, Wednesday Ford, Ford, Ford Pro, RBC, Thursday, Airlines, American Airlines, Investors Locations: China

Analyst Mauricio Serna also raised his price target to $20 from $13, indicating 57.6% upside potential from where shares closed on Thursday. Barclays also lowered its price target to $47 from $55, indicating 11.4% downside from Thursday's close. Analyst Benjamin Swinburne has a $780 price target on shares, indicating shares could rise 20% from Thursday's close. Cahall raised his price target to $758 from $726, suggesting nearly 18% upside potential from the stock's close price on Thursday. His new price target of $190, up from $107, implies upside of 20% from Thursday's close.

Persons: Morgan Stanley, Mauricio Serna, Serna, — Hakyung Kim, Barclays downgrades Molson Coors, Lauren Lieberman, BUD YTD, Hakyung Kim, Benjamin Swinburne, Swinburne, Doug Anmuth, Anmuth, Wells, Steven Cahall, Cahall, Arm Holdings Morgan Stanley, Lee Simpson, Simpson, GenAI, Fred Imbert Organizations: CNBC, Netflix, Arm Holdings, UBS, Barclays downgrades, Barclays, bearish, Molson Coors, NFLX's, Holdings, ARM Locations: Serna, Thursday's, Wells Fargo

☆ 10 things to watch in the stock market Friday, including tech rotation and Eli Lilly approval
▼ + stars: | 2024-07-19 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

10 things to watch Friday, July 19 Can tech stocks and the overall market stabilize to end the week? That's what to watch after a brutal week for the "Magnificent Seven," which fell victim to a rotation away from 2024 winners. PPG Industries lowered its organic sales growth outlook, putting pressure on the stock. The credit card giant, known for its affluent customer base, also lifted its 2024 earnings outlook. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: CrowdStrike, Piper Sandler, Halliburton, SLB, Eli Lilly, Morgan Stanley, Bill Newlands, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Palo Alto Networks, Netflix, JPMorgan, PPG Industries, American Express, Novo Nordisk, Arm Holdings, Barclays, Molson Coors, Constellation Brands, Modelo, Corona, Jim Cramer's Charitable, CNBC Locations: Palo, China

☆ Don't bet on the stock-market rotation as small-caps historically suffer when rates come down, Barclays says
▼ + stars: | 2024-07-19 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Small-caps historically decline before and after the first interest rate cut, Barclays reported. This argues against the growing narrative that the easing cycle will boost small-caps, the bank said. AdvertisementBarclays ResearchTheir finding opposes many prevailing viewpoints on Wall Street, where rising bets of lower interest rates have sent investors piling into the small-cap trade. In part, falling interest rates might help ease debt burdens, but they can also signal a cooling economy — which favors large-cap exposure. Market veteran Ed Yardeni wrote this week that the small-caps trade has no legs, given the sector's lackluster forward earnings, revenue, and profit margins.

Persons: —, Venu Krishna, Russell, June's, Tom Lee, Ed Yardeni, Liz Young Thomas Organizations: Barclays, Service, NASDAQ, Federal

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☆ Here are Friday's biggest analyst calls: Netflix, Nvidia, Apple, Arm, Meta, Amazon, Hasbro, Coinbase, Broadcom & more
▼ + stars: | 2024-07-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Friday's biggest calls on Wall Street: UBS upgrades Accenture to buy from neutral UBS said the IT services company has AI optionality. UBS upgrades Wolverine World Wide to buy from neutral UBS said it sees sales growth and margin upside for the footwear manufacturer. JPMorgan reiterates Netflix as overweight JPMorgan said it's sticking with its overweight on Netflix following Thursday's earnings report. Bank of America reiterates Amazon as buy Bank of America said it's sticking with its buy rating following Amazon's Prime Day. UBS upgrades Ameren to buy from neutral UBS upgraded the electric services company and said regulatory risks are "overly discounted."

Persons: Morgan Stanley, Oppenheimer, William Blair, it's, Needham, Coinbase, Wedbush, it's bullish, Barclays downgrades Molson Coors, Cantor Fitzgerald, Cantor, Evercore, JPMorgan, Buck, Melius Organizations: UBS, Accenture, JPMorgan, Netflix, Revenue, Bank of America, 3Q, Nvidia, Meta, NASDAQ, Trump, Vance, Big Tech, Choice, Barclays downgrades, Barclays, TAP, Apple, Services, Broadcom, Broadcom's, Consumer, Hasbro Locations: China, Coinbase

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☆ ‘Loophole’ may get you a $7,500 tax credit for leasing an EV, auto analysts say
▼ + stars: | 2024-07-18 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Maskot | Maskot | Getty ImagesBuying a new electric vehicle isn't the only way consumers can access a $7,500 federal EV tax credit. Perhaps the best known of them — the "new clean vehicle" tax credit — is a $7,500 tax break for consumers who buy a new EV. But many auto dealers are also passing along a $7,500 tax break to lessees, via a different (and, experts say, lesser-known) mechanism called the "qualified commercial clean vehicles" tax credit. This EV tax credit "leasing loophole" has likely been a key driver of increased leasing uptake in 2024, Barclays auto analysts said in an equity research note published in June. The $7,500 tax credit enables dealers to charge low monthly payments for leases, thereby helping "stoke demand" for EVs, Barclays wrote.

Persons: Joe Biden, —, Dealers aren't, Ingrid Malmgren, Hyundai Kia, Brian Moody, Autotrader, Moody, Malmgren Organizations: Maskot, Barclays, U.S . Treasury Department, Plug, stoke, EVs, Foreign, Toyota, Hyundai, EV, Consumers Locations: U.S, Asian, North America

☆ Novo Nordisk, Eli Lilly have strong first-mover advantage in weight loss drug market, analyst says
▼ + stars: | 2024-07-18 | 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 EmailNovo Nordisk, Eli Lilly have strong first-mover advantage in weight loss drug market, analyst saysEmily Field, head of European pharmaceuticals research at Barclays, says it's too early to say what the competitive landscape will look like in five years for the weight loss drug market, as many trials are still in an early stage.

Persons: Eli Lilly, Emily Field, it's Organizations: Novo Nordisk, Barclays

Morgan Stanley raised its price target on Rivian to $17 from $13. Analyst Frank Lee did raise his price target to $200 from $190, although he added that "the risk-reward is less attractive now." Guggenheim hiked the price target to $735 per share from $700. He did raise his price target for the stock to $225 from $180, although this price hike still implies that Tesla stock could fall 12%. Analyst Adam Jonas raised his price target on the stock to $17 from $13.

Persons: Morgan Stanley, Jefferies, Frank Lee, Lee, Lisa Kailai Han, Michael Morris, Morris, Guggenheim, — Jesse Pound, Morgan Stanley's Simeon Gutman, Gutman, Seth Sigman, Truist, – Samantha Subin, TD Cowen downgrades Charles Schwab, Charles Schwab's, TD Cowen, Bill Katz, Charles Schwab, Katz, mgmt, — Lisa Kailai Han, Wells, Bank of America Wells, Mike Mayo, Mayo, Goliath, Dan Levy, Levy, Dennis Geiger, Geiger, Thomas Fitzgerald, Fitzgerald, David Windley, UnitedHealth's, Windley, UNH, Adam Jonas, Rivian, Jonas, Fred Imbert Organizations: CNBC, HSBC, Qualcomm, Microsoft, Netflix, Guggenheim, Barclays, ISI, Citi, Mizuho, Bank of America, of America, Tesla, UBS, Sweetgreen, sss, IK, TD Cowen downgrades, Airlines, American Airlines, Delta, Jefferies, Presidential, Chevron, Volkswagen Locations: China, Tuesday's, Mayo, U.S, Tesla's, UnitedHealth, UNH's

☆ Here are Wednesday's biggest analyst calls: Rivian, Nvidia, Apple, Micron, Microsoft, Sweetgreen, Tesla, Netflix & more
▼ + stars: | 2024-07-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street: Morgan Stanley reiterates Rivian as overweight Morgan Stanley raised its price target on Rivian to $17 per share from $13. UBS reiterates Apple as neutral UBS said it sees Apple results as "in-line" when the company reports on Aug. 1. UBS initiates Sweetgreen as buy UBS said the restaurant chain has "margin potential." Guggenheim reiterates Netflix as buy Guggenheim said it's sticking with its buy rating on Netflix heading into earnings Thursday. UBS reiterates Micron as buy UBS said it's sticking with its buy rating on shares of Micron.

Persons: Morgan Stanley, Rivian, Jefferies, Bernstein, TD Cowen downgrades Charles Schwab, Cowen, Schwab, it's, Morgan Stanley downgrades, TD Cowen, 2H24, Tesla, Oppenheimer downgrades Morgan Stanley, Oppenheimer, Guggenheim, Needham Organizations: VW, Susquehanna, Nvidia, AMD, UBS, Apple, Chevron, bbl, Deutsche Bank, Deutsche, Valero, Mizuho, Citi, Hershey Citi, TD Cowen downgrades, Airlines, Barclays, MasterCard Citi, Mastercard, " Bank of America, Bank of America, Enterprise, NASDAQ, HSBC, Qualcomm, Netflix, Micron, Microsoft

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