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☆ Warren Buffett's Berkshire Hathaway makes interesting bet on these homebuilders
▼ + stars: | 2023-08-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway bought shares of a few homebuilders in the last quarter, a new regulatory filing revealed. Horton shares, $70 million worth of NVR shares as well as $17.2 million worth of Lennar in the second quarter, the filing showed. These stakes are relatively small for Berkshire, whose equity portfolio is worth nearly $350 billion. Top holdings Berkshire shares just hit a record high last week on the back of strong second-quarter results. Also during the second quarter, Berkshire added to its relatively new stake in Capital One Financial , bringing it to nearly $1.4 billion.

Persons: Warren, Berkshire Hathaway, Horton, Todd Combs, Ted Weschler, Benjamin Moore Organizations: Berkshire, Clayton Homes, Apple, American Express, Bank of America, Capital, General Motors, Chevrolet, GMC Locations: Omaha, Berkshire, McLean , Virginia

☆ Here are Monday's biggest analyst calls: Apple, Tesla, Meta, Nvidia, Shopify, Netflix, Disney & more
▼ + stars: | 2023-07-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Goldman Sachs initiates Amylyx Pharmaceuticals as buy Goldman said it sees an attractive entry point for shares of the biotech company. " Goldman Sachs reiterates Nvidia as buy Goldman said it's standing by its buy rating on Nvidia and that it likes stocks with "room for meaningful positive EPS revisions." UBS downgrades Tesla to neutral from buy UBS said in its downgrade of Tesla that strong growth is already priced in. Goldman Sachs initiates Savers Value Village as buy Goldman said the thrift store operator is a share gainer. Goldman Sachs reiterates ServiceNow as buy Goldman said it sees more upside in shares of ServiceNow as the stock remains a key beneficiary.

Persons: Piper downgrades Estee Lauder, Piper, Baird, Goldman Sachs, Goldman, Wells, Evercore, it's, Stifel, Lam, Tesla, Moffett, Rosenblatt, Raymond James, Becton Dickinson, SLB, Horton, BTIG, Needham, ServiceNow Organizations: Express, Netflix, Amylyx Pharmaceuticals, Bank of America, NTR, RBC, Research, Nvidia, MU, UBS, Semiconductor, Deutsche Bank, Apple, Deutsche, Mac, Med Tech, Schlumberger, Disney, DIS, American Express Locations: China, underperform, ServiceNow

☆ Stocks making the biggest moves premarket: Netflix, Tesla, United Airlines and more
▼ + stars: | 2023-07-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Netflix posted earnings of $3.29 a share on $8.19 billion in revenue. However, IBM reported earnings that topped analysts' estimates as the company expanded its gross margin. United Airlines — Shares rose 3% after United Airlines reported record quarterly earnings and said it expects a strong third quarter as travel demand surges. During the period, the company reported a rebound in customer deposits. The company reported earnings of 92 cents a share on $2.35 billion in revenue.

Persons: Refinitiv, it's, Johnson, Horton —, Horton, Blackstone, Blackstone — Blackstone, Morgan Stanley, Bud Light, —, Macheel, Alex Harring, Jesse Pound, Yun Li Organizations: Netflix, IBM, Vegas Sands, Refinitiv, Taiwan Semiconductor, Taiwan Semi, Revenue, Discover, Discover Financial, United Airlines, Bancorp, American Airlines —, Airlines, Blackstone —, Anheuser, Busch Locations: Los Angeles , California, Vegas, Taiwan

☆ Investors should avoid this stock that just hit an all-time high, Josh Brown says
▼ + stars: | 2023-07-20 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

A red-hot homebuilder stock just flashed a warning sign for investors, according to Ritholtz Wealth Management CEO Josh Brown. Horton blew away expectations for its fiscal third quarter Thursday morning, reporting $3.90 in earnings per share on $9.73 billion of revenue. The stock rose sharply at the open and set a new all-time high at $132.30, but then quickly reversed course and fell into the red for the day. Horton stock reversed course during Thursday's session. Brown said the reversal appears to be a sign D.R.

Persons: Josh Brown, D.R, Horton, Refinitiv, Brown, you've Organizations: Ritholtz Wealth Locations: Horton

☆ Marjorie Taylor Greene believes rap videos 'glorify drugs and violence' but attempts to participate in hip-hop culture in a MAGA-themed music video
▼ + stars: | 2023-07-17 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

Marjorie Taylor Greene stars in a new rap music video in which she is declared "MAGA's MVP." Florida-based rapper Kurt Jantz, who goes by Forgiato Blow, released a new music video on Sunday dedicated to the Georgia representative. Throughout the video, Greene silently nods her head next to Jantz or remains in the background, sitting on a throne or atop a red convertible. Marjorie Taylor Greene🇺🇸 (@RepMTG) July 16, 2023This is not the first time Greene has tried to insert herself into hip-hop culture. "We don't care if you're white/Don't care if you're black/We don't care if you're gay/We're all under attack," they sing.

Persons: Marjorie Taylor Greene, MAGA, Marjorie Taylor Greene's, she's, Kurt Jantz, Forgiato Blow, Marjorie, RINOs, Greene, Jantz, Greene's, Joe Biden, —, Marjorie Taylor Greene 🇺🇸 ( Organizations: Trump, Service, Georgia, Twitter Locations: Wall, Silicon, Florida, Georgia

☆ How a Vast Demographic Shift Will Reshape the World
▼ + stars: | 2023-07-16 | by ( Lauren Leatherby | ) www.nytimes.com time to read: +18 min

1990 Younger populations Workingage Older populations For decades, the world’s dominant powers have benefited from large working-age populations that help drive economic growth. Russia U.K. France Pakistan Pakistan China China U.S. U.S. Japan U.S. Japan China India India India Nigeria Nigeria Ethiopia D.R.C. Russia U.K. France Pakistan Pakistan China China U.S. U.S. U.S. Japan Japan China India India India Nigeria Nigeria Ethiopia D.R.C. Russia U.K. France Pakistan China U.S. U.S. U.S. Japan Japan China China India India India Nigeria Nigeria Ethiopia D.R.C. Russia U.K. France Pakistan China U.S. U.S. U.S. Japan Japan China China India India India Nigeria Nigeria Ethiopia D.R.C.

Persons: That’s, ”, Mikko Myrskylä, Max Planck, Carolina Cardona, Philip O’Keefe, –, O’Keefe, Myrskylä, “ We’ve, “, aren’t, Mr Organizations: Korea Germany Italy Russia United, France, France Pakistan Pakistan China China U.S ., U.S, China India Nigeria D.R.C, France Pakistan Pakistan China China U.S . U.S, France Pakistan, France Pakistan China U.S . U.S, for Demographic Research, Youth, Niger, Dem, Central African Rep, Herzegovina Bulgaria Croatia Czech Rep, Denmark Estonia Finland France Germany Greece, Denmark Estonia Finland France Germany Greece Hungary Ireland, Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Kosovo, Macedonia Norway Poland Portugal Moldova Romania, Macedonia Norway Poland Portugal Moldova Romania Russia Serbia Slovakia Slovenia, Hong Kong North Korea Japan Mongolia South Korea Taiwan Northern America, New Zealand, New, Benin Botswana Burkina Faso Burundi Cameroon Central African Rep, Chad Comoros, Congo Ivory Coast Dem, Johns Hopkins University, Aging, ARC Center of Excellence, Aging Research, World Bank, Spain Taiwan, Young, Korea, Spain, “ Locations: Japan, Western Europe, South Korea, Britain, Eastern Europe, China, Europe, India, East Asia, Florida, United States, South, Southeast Asia, Africa, Korea Germany Italy, Korea Germany Italy Russia United States France China Thailand United Kingdom, South Korea Brazil Colombia China Thailand Iran Myanmar Vietnam Bangladesh Indonesia, South Africa Myanmar Indonesia Bangladesh Philippines Pakistan Kenya Indonesia Egypt Ethiopia, Russia, France Pakistan Pakistan China China U.S, France Pakistan Pakistan China China U.S . U.S, Japan U.S, Japan China India India India Nigeria Nigeria Ethiopia D.R.C, Indonesia Indonesia Brazil Brazil Brazil, China Japan India Brazil, Pakistan France China U.S, Japan India Nigeria Brazil Indonesia, Pakistan U.S, China India Nigeria, Ethiopia Brazil Indonesia, France Pakistan Pakistan China China U.S . U.S . U.S, Japan Japan China India India India Nigeria Nigeria Ethiopia D.R.C, France Pakistan China, France Pakistan China U.S . U.S . U.S, Japan Japan China China India India India Nigeria Nigeria Ethiopia D.R.C, Congo Somalia, Angola Tanzania Nigeria, Afghanistan Ethiopia Tajikistan Kenya, Asia, Oceania, Kenya, Demographically, South Asia, Singapore, Albania, Austria Belarus Belgium Bosnia, Herzegovina Bulgaria, Denmark Estonia Finland France Germany, Denmark Estonia Finland France Germany Greece Hungary, Denmark Estonia Finland France Germany Greece Hungary Ireland Italy, Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Kosovo Latvia Lithuania Netherlands, Macedonia Norway Poland Portugal, Macedonia Norway Poland Portugal Moldova Romania Russia Serbia Slovakia, Macedonia Norway Poland Portugal Moldova Romania Russia Serbia Slovakia Slovenia Spain Sweden Switzerland Ukraine, Eastern Asia, Hong Kong North Korea Japan Mongolia South Korea Taiwan Northern, Canada, States Australia, New, Australia, New Zealand, Saharan Africa, Angola, Benin Botswana Burkina Faso Burundi Cameroon, Congo, Congo Djibouti, Guinea Eritrea Eswatini Ethiopia Gabon Gambia Ghana Guinea Guinea, Bissau Kenya Lesotho Liberia Madagascar Malawi Mali Mauritania Mauritius Mozambique Namibia Niger Nigeria Rwanda Senegal Sierra Leone Somalia South Africa South Sudan Togo Uganda Tanzania Zambia Zimbabwe, Aging Asia, Pacific, America, “, Hong Kong, Italy, Spain, Spain Taiwan Greece, Singapore Slovenia Thailand Germany, Mainland China Finland Japan Netherlands Canada, Hong Kong South Korea, Singapore Slovenia Japan Thailand Germany, Mainland China Finland Netherlands, U.N, Korea Japan Spain, Korea Japan, France, West, East, Vietnam

☆ These are the 3 key things that will impact the stock market in the week ahead
▼ + stars: | 2023-07-15 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

A lot was riding on these important measures of inflation after the scorching-hot ADP jobs report last week. Here are 3 things you need to know for the week ahead: 1. Industrial production and capacity utilization, also out Tuesday, shines a light on manufacturing, which attributes about 12% to U.S. GDP. Six months is generally considered to represent a balance between supply and demand in the housing market. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Morgan Stanley, Johnson, Jeff Miller, Lockheed Martin, Charles Schwab, JB Hunt, Goldman, Baker Hughes, Ally, Kinder Morgan, Zions, Philip Morris, Abbott, ABT, Jim Cramer's, Jim Cramer, Jim, Scott Olson Organizations: Nasdaq, Dow Jones Industrial, Housing, CPI, Halliburton, HAL, Johnson, of America Corp, Lockheed, Lockheed Martin Corp, Novartis International AG, PNC Financial Services Group, Inc, PNC, Charles Schwab Corp, Bank of New York Mellon Corporation, BK, Synchrony, Interactive, Goldman Sachs Group, U.S . Bancorp, ASML, Citizens Financial, T Bank Corp, Northern Trust Corporation, Horizon National Corp, Business Machines Corp, IBM, United Airlines, Netflix, Steel Dynamics, Alcoa, Discover Financial Services, Crown, International Corp, Equifax Inc, Las Vegas Sands Corp, Liberty Energy Inc, Philip Morris International Inc, Taiwan Semiconductor Manufacturing Company, American Airlines Group Inc, Travelers Companies, SAP, Nokia Corp, Truist Financial Corporation, Company, McLennan Companies, Infosys Technologies Ltd, Newmont Mining Corp, Fifth Third Bancorp, Pool Corporation, Alfa Laval, Webster Financial Corp, Blackstone, Financial Corp, PPG Industries, CSX Corp, CSX, Berkley Corp, Swift Transportation Holdings Inc, American Express Co, AutoNation Inc, Interpublic, of Companies, Autoliv Inc, Huntington Bancshares, Financial Corporation, Roper Technologies, Comerica, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Las, ZION, Horton, Freeport, Marsh, ALFVY, W.R, Lemont , Illinois

☆ Investors count on upward market momentum in the week ahead as earnings rain down
▼ + stars: | 2023-07-14 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Stocks could continue to gain momentum in the week ahead as traders turn their attention to earnings results after the past week's softer inflation news. The major benchmarks are headed for a positive week Friday after encouraging consumer and wholesale inflation in June cemented the likelihood that the Federal Reserve is closer to the end of its rate-hiking campaign. Some market participants expect this period could mark the trough for earnings, and urge traders to pay more attention to forward guidance. "And that's a great sign for the market and market health." ET: NAHB housing market index (July) Earnings: Bank of America , Morgan Stanley , Bank of N.Y. Mellon , Lockheed Martin , PNC Financial , J.B. Hunt Wednesday 8:30 a.m.

Persons: Sage, Rob Williams, Sam Stovall, gee, Stovall, It's, Yung, Yu Ma, MRB, Sage Advisory's Williams, Williams, Morgan Stanley, Wells, Baird's Ross Mayfield, Lockheed Martin, Baker Hughes, Goldman Sachs, Kinder Morgan, Equifax, Johnson Organizations: Federal Reserve, Traders, Reserve, Open, BMO Wealth Management's, MRB Partners, Bank of America, JPMorgan Chase, Investors, Bank, N.Y, Mellon, Lockheed, PNC Financial, J.B, Hunt, Housing, Nasdaq, Citizens Financial, Halliburton, Las Vegas Sands, IBM, Tesla, Netflix, American Airlines, United Airlines, CSX, Comerica, PPG, Roper Technologies, American Locations: Wells Fargo, Silicon Valley, Las Vegas, Horton

☆ These companies reporting next week have a history of beating earnings estimates
▼ + stars: | 2023-07-14 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

The new corporate earnings season revs up next week, and some stocks could do well on the back of their reports. The regional bank has beat earnings expectations in 70% of its past reports and typically advances 1.7% on the back of a report. Blackstone Investment firm Blackstone also made the list, with the company beating expectations 70% and 79% of the time for earnings and revenue, respectively. Horton , which is also set to report Thursday, has beat earnings expectations 76% of the time and sales forecasts 70%. The company, which reports Thursday after the bell, has beat earnings and sales expectations 87% and 83% of the time, respectively.

Persons: revs, Morgan Stanley, Goldman Sachs, they've, Wells, Jared Shaw, WAL, Blackstone, D.R, Horton D.R, — CNBC's Michael Bloom, Fred Imbert Organizations: Bank of America, Netflix, United, Investors, CNBC Pro, Investment, Western Alliance, Western Alliance Bancorp, Regional Banking, Blackstone Investment, Truland Locations: Horton, Friday's

☆ Analysts are getting bullish on these stocks set to report earnings next week
▼ + stars: | 2023-07-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

As second-quarter earnings season kicks into high gear, Wall Street analysts are getting more bullish on these companies set to report next week. Given this backdrop, CNBC Pro searched for S & P 500 companies analysts are bullish on and that are also reporting earnings next week. Since the start of the year, the stock has jumped nearly 26% as China reopens and travel returns, and Wall Street is bracing for more upside ahead. Airline stocks United and American have also experienced strong momentum heading into the period. Wall Street has hiked EPS estimates for American about 91% the past six months, while United has seen a 46.3% uptick.

Persons: Horton Organizations: Wall Street, Nasdaq, CNBC Pro, Las Vegas, Airline, United, Analysts, Industries Locations: China

☆ Bet on these stocks to beat the Street with earnings season about to kick off, says Bank of America
▼ + stars: | 2023-07-11 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The outlook for this earnings season looks bleak, but Bank of America thinks there are some companies that can still deliver upside surprises. The season kicks off this week, with banking giants JPMorgan Chase , Wells Fargo and Citigroup set to report. BofA screened the S & P 500 for companies most likely to beat consensus earnings expectations. To find these names, the bank used this criteria: BofA earnings estimate above the Street consensus. Companies that beat earnings per share and revenue during the last reporting season.

Persons: Wells, BofA, SolarEdge, Julien Dumoulin, Smith, — CNBC's Michael Bloom Organizations: Bank of America, JPMorgan Chase, Citigroup, Delta Air Lines, PepsiCo, Meta, United Rentals, Corning Locations: Wells Fargo, Horton

☆ Here are Thursday's biggest analyst calls: Target, Tesla, Toast, Chevron, Meta, Toll Brothers and more
▼ + stars: | 2023-06-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

JPMorgan downgrades Okta to neutral from overweight JPMorgan Chase said it sees too many macroeconomic pressures for the company. " JPMorgan downgrades Target to neutral from overweight JPMorgan Chase said in its downgrade of the stock it sees a "weakening" consumer. Bank of America initiates Toast as buy Bank of America said the restaurant tech company is "best in class." JPMorgan upgrades Domino's Pizza to overweight from neutral JPMorgan Chase said in its upgrade of Domino's that it's too cheap to ignore. Bank of America reiterates Dick's as buy Bank of America said it's bullish on the company's new store format.

Persons: Goldman Sachs, Goldman, Johnson, it's, Salesforce, JPMorgan downgrades, JPMorgan Chase, we've, Horton, PulteGroup, TOST, BorgWarner, Morgan Stanley, Tesla, XOM, Cowen, Phillips, Wedbush, Macquarie, Dick's, it's bullish, DKS Organizations: AAP, Barclays, JCI, RBC, Chevron, JPMorgan, JPMorgan downgrades Target, Deutsche Bank, " Bank of America, Bank of America, Restaurant Association, BorgWarner Deutsche Bank, Citi, Meta, ExxonMobil, UBS, CSX, Garden Entertainment, Knicks, Rangers, Networks Locations: Europe, New York

☆ Homebuilder ETFs could get another boost if the Fed stops after one more rate hike
▼ + stars: | 2023-05-03 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

Mortgage rates are tied indirectly to the Fed through the yield on the 10-year Treasury note, and could still move around while the central bank is paused. The ETFs that track the industry have already outperformed this year, rebounding from dramatic declines in 2022. The rapid Fed rate hikes last year appeared to spook consumers, who saw their future monthly payments climb sharply just while they were in the midst of searching for new homes. ITB YTD mountain Homebuilder ETFs like the ITB have outperformed in 2023. And a relatively stable interest rate outlook should make it easier for the homebuilders to hit those raised estimates, according to their own executives.

☆ Stocks making the biggest moves midday: Tesla, IBM, American Express, AT&T and more
▼ + stars: | 2023-04-20 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

American Express posted earnings per share of $2.40 for the first quarter, below an estimate of $2.66, per Refinitiv. On Wednesday, the casino and resort company posted a beat on first-quarter earnings. The decline comes a day after Zions missed earnings expectations in the first quarter. The company posted earnings of $2.73 per share on revenue of $7.97 billion. The downgrade comes ahead of the defense firm's first quarter earnings report, which is set to release April 25.

☆ Strong individual performers can buoy whole sectors, Jim Cramer says
▼ + stars: | 2023-04-20 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Stocks that investors might expect to be shorted in the buildup to a recession are doing very well, buoying their whole sectors, CNBC's Jim Cramer said Thursday. There are certain kinds of industries that have historically been targeted by short sellers in the run-up to recession, Cramer said, including railroads, semiconductors, homebuilders and automakers. Steel firm Nucor would be an "obvious short" headed into a recession, Cramer said, but the company reported strong growth and "blew away the estimates." Homebuilders are likely short candidates ahead of a recession, but that doesn't seem to be happening here, Cramer said. But as Cramer has noted before, strong performing companies with effective management can weather most storms.

☆ Stocks making the biggest premarket moves: Tesla, IBM, American Express, KeyCorp and more
▼ + stars: | 2023-04-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

IBM — The tech stock rose more than 1% in premarket trading after the company reported an earnings beat. IBM posted adjusted earnings of $1.36 per share, compared to $1.26 per share as expected by analysts, according to Refinitiv. American Express — Shares dipped 1.3% after the payments company reported adjusted earnings per share of $2.40 for the first quarter, below StreetAccount's estimates of $2.66. F5 — The cloud-based software company's shares were down about 7% after a mixed second fiscal quarter earnings report. Analysts polled by FactSet had estimated 44 cents earnings per share and $1.79 billion in revenue.

AT&T (T.N) shares dropped 10.4% after the wireless carrier missed market estimates for first-quarter revenue and free cash flow. The S&P 500's rally to start the year is set to be tested by a first-quarter earnings season that investors expect to show tepid results. “The market has been overbought for the last week or two," said Anthony Saglimbene, chief market strategist at Ameriprise Financial. In other earnings news, American Express Co (AXP.N) profit missed Wall Street estimates and its shares fell 1%. Shares of Lam Research (LRCX.O) rose 7.2% after the chip-making equipment supplier's revenue topped estimates, while shares of D.R.

Their stocks average a gain of at least 0.5% on earnings day. The companies have also beaten analysts' expectations at least 75% of the time over five years. Johnson & Johnson has been in the news in recent weeks after settling a lawsuit over claims that the company's baby powder and other talc products caused cancer for $8.9 billion. Historically, the stock has gained 0.78% on earnings day, but what's more impressive is the company's average five-year beat rate of 100%. The bank has beaten analysts' expectations 85% of the time in five years.

☆ Next week's stock market moves hinge on the longer-term outlook for earnings
▼ + stars: | 2023-04-14 | by ( Scott Schnipper | ) www.cnbc.com time to read: +7 min

Next week's market action could be dictated by how well the latest quarterly reports from corporate America are received. Expectations about the immediate earnings outlook have been down for so long, the actual numbers themselves could look like up to investors. Earnings for all financials in the S & P 500 are actually expected to expand in the first quarter by 4.3%. ET: NAHB Housing Market Index (April) Earnings: Charles Schwab, M & T Bank, State Street, J.B. Hunt Transport Tuesday 8:30 a.m. ET: Philadelphia Fed President Patrick Harker speaks on the economic outlook Earnings: AT & T, American Express, D.R.

☆ Homebuilder Lennar beats profit estimates on strong property prices
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

March 14 (Reuters) - Homebuilder Lennar Corp (LEN.N) on Tuesday reported a better-than-expected quarterly profit as high property prices helped offset supply shortages caused by rising material costs and a labor crunch. However, the industry is now staring at a slowdown as high interest rates have made borrowing more difficult for potential buyers. "Our sales volume and pricing have clearly been impacted by rising interest rates, but there remains a significant national shortage of housing, especially workforce housing, and there is still demand," Lennar Executive Chairman Stuart Miller said in a statement. Lennar reported net earnings per diluted share, excluding items, of $2.12 per share, above analysts' average estimate of $1.55 per share, according to Refinitiv data. Reporting by Priyamvada C and Kannaki Deka in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Big Companies Seeing Tax Benefits From Law Change Some of Them Fought
▼ + stars: | 2023-03-08 | by ( Richard Rubin | Jennifer Williams-Alvarez | ) www.wsj.com time to read: +6 min

Those companies now qualify for a bigger tax break for exports because of the way the research-deduction change alters their tax calculations. Photo: Dado Ruvic/REUTERSModerna saw that tax break jump to a 7.4 percentage-point benefit on its tax rate from 4.8 points in 2021, even as its cash tax payments rose. The change requiring companies to spread out research deductions was part of the 2017 tax law, and it was designed to partly offset the revenue loss from cutting corporate tax rates. PREVIEWAt the same time, the smaller research deduction means many companies can get a bigger advantage from the export tax break. The size of the FDII tax break is based in part on how much income a company has.

☆ Hightower's Stephanie Link sells Occidental Petroleum, says there are 'better places' in energy
▼ + stars: | 2023-03-07 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

It's time to take some profits from what was one of the best-performing energy stocks last year, according to investor Stephanie Link. The chief investment strategist and portfolio manager at Hightower said she sold shares of Occidental Petroleum , which outperformed last year on the back of rising oil prices. Occidental shares posted a return of 119% in 2022. Schlumberger shares are more than 1% higher in 2023. Another name the investor sold was D.R.

☆ Stocks making the biggest premarket moves: Ferrari, Apple, KB Home and more
▼ + stars: | 2023-03-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +1 min

In a note to clients, Jonas cited Ferrari's backlog and pricing power as reasons to raise his price target on the stock by more than 10%. Apple — The iPhone maker advanced 2% premarket after Goldman Sachs initiated coverage with a buy rating, saying Apple could get a big boost from its services business. The Wall Street bank's 12-month price target of $199 implies Apple could rally more than 30% from here. KB Home — The homebuilder slipped 1.4% following a double downgrade to underweight from overweight by JPMorgan. Horton, another homebuilder, fell a little more than 1% after it was downgraded by JPMorgan to neutral from overweight.

☆ JPMorgan double downgrades KB Home to underweight, says valuation is too high
▼ + stars: | 2023-03-06 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

KB Home 's valuation is too high given its expected future performance, JPMorgan warned. Rehaut cut his price target by $3.50 to $32.50, which implies the stock will fall 9.1% from Friday's close. Rehaut noted it's also expensive given that KB Home is expected to trail those smaller-cap competitors on gross margins, operating margins and return on equity. "We view its valuation ... as expensive relative to our outlook for below average gross margins, operating margins and ROE," he said in a Monday note to clients. Rehaut noted the stock could perform better than expected if it sees stronger-than-expected pricing or easing inflation, which could both help gross margins.

☆ Here are Monday's biggest analyst calls of the day: Apple, Tesla, Nio, Ferrari, Merck, Nvidia & more
▼ + stars: | 2023-03-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Monday's biggest calls on Wall Street: JPMorgan reiterates Amazon as a best idea JPMorgan says it's standing by its overweight rating on the stock. " Jefferies reiterates Tesla as buy Jefferies raised its price target on the stock to $230 per share from $180 and says it's standing by its buy rating. JPMorgan upgrades Vir Biotechnology to overweight from neutral JPMorgan said it likes the biotech company's product pipeline. JPMorgan reiterates General Electric as neutral After a change in analyst coverage, JPMorgan said GE's transformation continues but there's still more "work to do." Jefferies initiates Merck as buy Jefferies initiated the pharmaceutical company with a buy and said it has room for growth.

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