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Burger King parent company Restaurant Brands International is leading a successful brand turnaround, according to Loop Capital. Following "another round of positive Burger King checks," the firm upgraded shares to buy from hold. According to analyst Alton Stump, Burger King's same-store sales gained 8.5% to 9% quarter to date through late September, topping estimates of 7.7% growth. While the wraps are a limited-time offering, he cited an anonymous Burger King franchisee contact who said there is a good possibility that it could become a permanent menu addition. The company's new leadership has helped improve burger King's image over the last six to 12 months, said Stump.
Persons: Burger, Alton Stump, Burger King's, Stump, Tim Hortons, — CNBC's Michael Bloom Organizations: Burger King, Restaurant Brands, Popeyes Locations: 2Q23
The consumer is expected to remain resilient this year, but some retailers will benefit more than others. Consumer spending drives the U.S. economy, accounting for 68% of gross domestic product — and several analysts on Wall Street forecasted that spending will remain strong through 2024. However, the prioritization of that spending will result in winners and losers. At the same time, they expect spending growth for essentials to slow, thereby leaving more money left over for discretionary purchases. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Goldman Sachs, Goldman, Bernstein, That's, , TJX, Jim Cramer's, Jim Cramer, Jim, Mario Anzuoni Organizations: Wall, Goldman, , TJX, Ross Stores, Burlington, Loop, Marshalls, Apple, TJX Companies, Jim Cramer's Charitable, CNBC, Maxx Locations: 4Q23, TJX, Maxx, Burlington, Pasadena , California
Apple — Apple shares fell more than 2.6% after Bloomberg News reported China is planning to extend a ban on iPhone use to state-owned corporations. The company generated 60 cents per share profit on $542 million of revenue. The company called for an operating loss of $27 million to $40 million, while analysts polled by StreetAccount anticipated a loss of $20.5 million. Verint Systems — The analytics company lost 16.2% in premarket trading after Verint's second-quarter earnings and revenue fell short of expectations. Verint posted adjusted earnings of 48 cents per share, while analysts polled by FactSet forecast 57 cents per share.
Persons: Buster's, LSEG, Wells, ChargePoint, StreetAccount, Roku, Verint, Macheel, Jesse Pound Organizations: Apple, Bloomberg News, Street Journal, Bros, Dave, ChargePoint Holdings, LSEG, Europe's, Kappa, Systems, FactSet, Revenue Locations: China
A higher valuation has raised the stakes for Roku and pushed Loop Capital to the sidelines. Analyst Alan Gould downgraded the streaming stock to hold from buy while keeping his price target at $85. Ultimately, he said the stock is trading at a valuation that leaves less of a cushion. Roku shares slipped 1.5% before the bell Thursday after climbing almost 3% in Wednesday's session. ROKU YTD mountain Roku shares this year — CNBC's Michael Bloom contributed to this report
Persons: Alan Gould, Gould, Roku, Dan Jedda, CNBC's Michael Bloom Locations: Wednesday's
Seagate Technology — Seagate Technology shares dropped about 10.9% after Barclays downgraded the stock to equal weight form overweight. ChargePoint Holdings — Shares of ChargePoint Holdings plunged 10.9% after the electric vehicle charging infrastructure company missed fiscal second-quarter revenue estimates. ChargePoint posted $150 million in revenue, weaker than the $153 million forecast by analysts polled by LSEG, formerly known as Refinitiv. Meanwhile, C3.ai reported an adjusted fiscal first-quarter loss of 9 cents per share on revenue of $72.4 million. Verint Systems — Shares plunged 19.4% in midday trading after the analytics company reported weaker-than-expected second-quarter earnings and revenue.
Persons: Rollins —, ChargePoint, LSEG, StreetAccount, Roku, , Alex Harring, Yun Li, Pia Singh Organizations: Europe's, Kappa, Wall Street, GameStop, Wall, — Semiconductor, Lam Research, Devices, Qualcomm, Nvidia, Intel, Apple, Bloomberg, Street Journal, Technology, Wednesday, Seagate Technology, Barclays, ChargePoint Holdings, LSEG, Buster's Entertainment, Loop Locations: China
Collectively, these six long-term holdings are expected to boost profits by 87% in the second half, up from 27% in the first half, according to estimates from FactSet. Nvidia 1st half earnings growth: 103% 2nd half expected earnings growth: 371% Investor excitement in Nvidia, already high, was lifted even further by the company's recently reported fiscal second quarter , which blew expectations out of the park. Amazon 1st half earnings growth: 266% 2nd half expected earnings growth: 297% The company's second quarter North America segment posted an operating margin of 3.9%, impressing investors like us with a 620-basis-point improvement over the last five quarters. That's why earnings growth for the second half of 2023 looks lighter than the recently reported fiscal fourth quarter of 2023 . Apple 1st half earnings growth: 2% 2nd half expected earning growth: 11% The iPhone maker had a "muted start" to the second half as consumers wait for the September release of the iPhone 15, said analysts at Loop Capital.
Persons: there's, Zev Fima, Morgan Stanley's, Wedbush, Morgan Stanley, Oppenheimer, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Walid Berrazeg Organizations: Big Tech, Nvidia, Microsoft, Apple, Investing, NVIDIA, Amazon, Meta, Facebook, Meta Connect, Management, Google, YouTube, Bank of America, Loop, CNBC, Getty Locations: FactSet, America, 2H23, Taipei
All three stocks have double-digit gains ahead of them, if the average FactSet analyst price target holds true. Still, the average price target rose by 2.4% to $118.90 a share, according to FactSet. KraneShares CSI China Internet ETF (KWEB) gained nearly 19% last month. "We expect the stock will remain volatile in the near term along with China internet peers on macro uncertainty," the report said. Loop has a $210 price target on Baidu, more than 50% above where shares closed on Friday.
Persons: Tencent, , Louis, Vincent, Jiong Shao, Nomura, Jialong Shi, Morgan Stanley, Alex Poon, NetEase, Rob Sanderson, — CNBC's Michael Bloom Organizations: Baidu, UBS, Hong, Barclays, China Internet, CSI China Internet Locations: U.S, Europe, China, Hong Kong, Barclays China, Tencent
Marvell posted earnings of 33 cents per share, excluding items, on $1.34 billion in revenue. For the recent period, Affirm posted a smaller-than-expected loss of 69 cents per share on revenues of $446 million. Intuit posted $2.71 billion in revenue, ahead of the $2.64 billion expected. Analysts polled by Refinitiv had anticipated earnings of $5.85 per share on $2.51 billion in revenue, according to Refinitiv. Adjusted earnings per share came in at 34 cents, ahead of the 9 cents expected by analysts polled by Refinitiv.
Persons: Marvell, Refinitiv, Nordstrom, Ulta, Alan Gould, , Jesse Pound, Sarah Min, Michelle Fox Organizations: Marvell Technology, Hawaiian Electric, Electric, NBC News, Intuit —, Refinitiv, Intuit, AMC Entertainment, Netflix Locations: Maui
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere will be less competitors in the streaming business, says Loop Capital's Alan GouldAlan Gould, Loop Capital analyst, joins 'Power Lunch' to discuss Loop's Netflix upgrade and the future of the streaming business.
Persons: Alan Gould Alan Gould Organizations: Loop Capital, Netflix
Netflix is a cheap and smart buy after a recent pullback as the Hollywood strikes continue, according to Loop Capital. Analyst Alan Gould upgraded the streaming giant to a buy from a hold and raised his price target by $75 to $500. Gould noted that competing streaming platforms have raised prices while reducing spending on content, a recipe that he said can help bolster Netflix's competitive position. And even as more competitors enter the field, he said Netflix has been able to keep its share of engagement. Elsewhere, Gould noted that the implementation of paid password sharing has gone better than was expected.
Persons: Alan Gould, NFLX, Gould, — CNBC's Michael Bloom Organizations: Netflix, Hollywood, Capital Locations: NFLX
The Club's top things to watch Friday, August 25 1. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. 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: Jerome Powell's, Powell, Hong, Baird, Oppenheimer, Nordstrom, Walt Disney, Jim Cramer's, Jim Cramer, Jim Organizations: Chipmaker Marvell Technology, Nvidia, Google, Microsoft, Netflix, ESPN, Club, Walt, Disney, Realty Income, Bellagio, Vegas, Blackstone Real, Income, Jim Cramer's Charitable, CNBC Locations: Jackson Hole , Wyoming, Shanghai
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Stocks rise Regret on Foot Locker Watch Amazon 1. Stocks rise Equities climbed higher Wednesday morning, boosted by mega cap technology stocks ahead of Club holding Nvidia 's (NVDA) quarterly results after the closing bell . 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, Locker, Mary Dillon's, Jim, Jim Cramer's Organizations: CNBC, Club, Nvidia, Nasdaq, Treasury, West Texas, Web Services, Amazon Locations: Locker
Super Micro Computer could see upside if Wall Street reacts favorably to Nvidia's highly anticipated earnings release, according to Loop Capital. Analyst Ananda Baruah reiterated his buy rating on SMCI shares ahead of Nvidia's second-quarter earnings announcement Wednesday after the bell. He also maintained his $400 price target on shares, implying nearly 55% upside potential from Tuesday's close. "SMCI stock could act favorably if NVDA provides constructive Oct Q guidance and a healthy H100 supply narrative," Baruah wrote in a Tuesday note. Earlier in August, SMCI shares lost more than 20% in a single trading session even after posting an earnings and revenue beat.
Persons: Nvidia's, Ananda Baruah, Baruah, SMCI, — CNBC's Michael Bloom Organizations: Capital Locations: Nvidia's
Splunk earned 71 cents per share, after adjustments, on $889 million in revenue. Analysts polled by FactSet had forecast Splunk would earn 46 cents per share. Nvidia earned $2.70 per share, excluding items, on $13.51 billion in revenue, while analysts polled by Refinitiv forecast $2.09 per share in earnings and $11.22 billion in revenue. Analysts polled by Refinitiv forecast 10 cents per share in profit on $662 million in revenue. Autodesk earned $1.91 per share after adjustments on $1.35 billion in revenue, while analysts polled by Refinitiv predicted $1.73 per share in earnings and $1.32 billion in revenue.
Persons: Splunk, FactSet, Snowflake, Guess, Ananda Baruah, Refinitiv Organizations: Nvidia, Refinitiv, Taiwan Semiconductor, AMD, Marvell — Semiconductor, Marvell, Loop, Micro Computer, Autodesk
Here are Friday's biggest calls on Wall Street: Edward Jones downgrades CVS to hold from buy Edward Jones expressed concern over the company losing part of its Blue Shield of California pharmacy benefit manager contract. TD Cowen initiates Dynatrace at outperform TD Cowen said checks were strong and there's reasons to be excited about the tech company. TD Cowen initiates Datadog at outperform TD Cowen said the software company has strong management and ways to differentiate itself from competitors. Bank of America reiterates Peloton as buy Bank of America kept its bullish rating ahead of the fitness stock's earnings report. Morgan Stanley downgrades Aflac to equal weight from overweight Morgan Stanley said the insurance stock's strong earnings and capital have been hampered by challenges within sales and persistence.
Persons: Edward Jones, TD Cowen, Cowen, Wells, Wells Fargo, Morgan Stanley downgrades Aflac, Morgan Stanley, Riley, there's Organizations: CVS, JPMorgan, Bank of America, Barclays downgrades Keysight Technologies, Barclays, Citi, Materials, Riley Securities, Marvell Technology, MRVL Locations: California
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStudent loan payments resuming will spark consumer trade downs: Loop Capital's Anthony ChukumbaAnthony Chukumba, Loop Capital managing director, joins 'The Exchange' to discuss a consumer spending pullback as student loan payments resume, investment opportunities in discount retailers, and shifting employment trends since Covid.
Persons: Anthony Chukumba Anthony Chukumba Organizations: Loop Capital
Target — Target shares added 2.9% even after the retailer cut its full-year earnings forecast and second-quarter sales fell short of expectations. Wall Street analysts surveyed by Refinitiv had expected earnings of $1.39 per share on $25.16 billion in revenue. TJX reported adjusted earnings of 85 cents per share on $12.76 billion in revenue, while analysts surveyed by Refinitiv expected 77 cents earned and $12.45 billion in revenue. The manufacturer of lasers and optics forecast earnings of 5 cents to 20 cents per share and revenue of $1 billion to $1.1 billion. Analysts polled by FactSet called for 47 cents per share in earnings and revenue of $1.16 billion.
Persons: Refinitiv, Coinbase, TJX, FactSet, JD.com, Dr Pepper, Agilent, Jack Henry, Mercury, Cava — Cava, Jack, Wells, Morgan Stanley, Imperial, Shawn Fain, , Sarah Min, Samantha Subin, Michelle Fox, Jesse Pound Organizations: , Wall Street, National Futures Association, Commodity Futures Trading Commission, TJX, Nasdaq, UBS, Block, Wall, Associates, Mercury Systems, GE, GE HealthCare, News, Getty, Imperial Capital, Intel, Tower Semiconductor, Semiconductor, General Motors —, United Auto Workers, Big, General Motors, Ford Motor Locations: JD.com —, Cava
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLoop Capital's Anthony Chukumba gives his read on the state of the consumerAnthony Chukumba, Loop Capital managing director, joins 'Power Lunch' to discuss the state of the consumer and the retail market.
Persons: Anthony Chukumba Organizations: Loop Capital
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with NYU’s Suzy Welch and Loop capital’s Alan GouldNYU’s Suzy Welch and Loop capital’s Alan Gould, join 'Power Lunch' to discuss the future of Disney and ESPN
Persons: NYU’s Suzy Welch, Alan Gould, Suzy Welch Organizations: Disney, ESPN
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDisney's board needs to give Iger full runway until successor is ready, says NYU’s Suzy WelchNYU’s Suzy Welch and Loop capital’s Alan Gould, join 'Power Lunch' to discuss the future of Disney and ESPN.
Persons: NYU’s Suzy Welch, Suzy Welch, Alan Gould Organizations: Disney, ESPN
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDisney trades flat after Iger contract extension. Here's what the pros are sayingJim Cramer, Michael Nathanson of SVB MoffettNathanson, Jim Lebenthal of Cerity Partners and Alan Gould of Loop Capital discussed Disney after it announced a contract extension with CEO Bob Iger through 2026.
Persons: Jim Cramer, Michael Nathanson, SVB MoffettNathanson, Jim Lebenthal, Alan Gould, Bob Iger Organizations: Cerity Partners, Loop Capital, Disney
Here's a rapid-fire update on all 35 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Coterra Energy (CTRA): At roughly 10 times forward earnings, Jim said he'd classify Coterra shares as dirt cheap. Estee Lauder (EL): We're downgrading Estee Lauder to a 2 rating Wednesday, meaning we're no longer recommending investors buy the stock at current levels. But we're sticking with Estee Lauder because eventually we expect China's economy to turn around, and with it EL's stock price. The semiconductor firm, which has seen its stock price nearly triple this year, is reportedly considering taking a long-term stake in chip designer Arm Holdings.
Persons: Jim Cramer's, Jim, he's, We're, Walt Disney, Bob Iger, we're, Estee Lauder, Emerson, Locker, Mary Dillon's, Locker's financials, Eli Lilly, Vimal Kapur, Johnson, Morgan Stanley, Morgan Stanley's, he'd, Palo, Laxman Narasimhan, Bud, Stanley Black, Decker, TJX's, Wells Fargo, We've, Wynn, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Devices, AMD, Investors, Bausch Health, KKR, Costco Wholesale, Costco, Coterra Energy, ESPN, The, Disney, Emerson, National Instruments, Rockwell Automation, Ford, United Auto Workers, GE Healthcare, Halliburton, HAL, Honeywell International, Honeywell, Johnson, Linde, LIN, Novo Nordisk, Meta, Microsoft, Activision Blizzard, Nvidia, Arm Holdings, Palo Alto Networks, Palo Alto, Natural Resources, Procter & Gamble, Constellation Brands, TJX, Wynn Resorts, WYNN, Jim Cramer's Charitable Locations: India, Israel, California, U.S, Corona, Wells, Las Vegas , Boston, Macao
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLoop's Laura Champine on upgrading TJX shares: Stores have room to raise pricesLaura Champine, Loop Capital managing director, joins 'Squawk on the Street' to discuss Loop's upgrade of TJX.
Persons: Laura Champine Organizations: Loop Capital
Bed Bath & Beyond went bankrupt and sold its brand, but people are still placing bets on its stock. Investors have traded over $200 million worth of its likely worthless shares since early May. They've traded over $200 million worth of the homewares retailer's shares since early May, Yahoo Finance data shows, even though they're most likely worthless. Investors have traded an average of 24 million shares a day since then, per Yahoo Finance. Moreover, Overstock.com recently purchased BBBY's intellectual property for $22 million, and plans to rebrand itself under the Bed Bath & Beyond name.
Persons: , They've, they're, Anthony Chukumba, that's, Overstock.com, Chukumba Organizations: Investors, Financial Times, Service, Yahoo Finance, New York Stock Exchange, Tesla, GameStop, Bed
Investors looking for big gains while also resting easy at night can look at these stocks, Goldman Sachs says. While the market rally stalled somewhat last week, the Nasdaq Composite remains higher by 28% in 2023, while the S & P 500 has notched a 13% gain. Still, investors seeking to ready their portfolios for further volatility ahead could search for risk-adjusted returns using the Sharpe ratio. In other words, Goldman proposes these stocks will give the biggest returns while allowing you to sleep easier at night. Goldman Sachs revisited its High Sharpe Ratio basket, adding 39 new stocks, and retaining 11 holdings.
Persons: Goldman Sachs, Wall, Sharpe, Goldman, David Kostin, Michael Bloom Organizations: Nasdaq, Dow Jones, Newell Brands, Disney, Capital, Cisco, Bank of America
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