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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWells Fargo's Mike Mayo: Here's why financials will benefit no matter who wins the electionMike Mayo, Wells Fargo Securities managing director and senior banking analyst, joins 'Squawk on the Street' to discuss Mayo's take on why financials benefit from either candidate's election, what happens if rates go up more than expected, and much more.
Persons: Wells, Mike Mayo Organizations: Wells Fargo Securities Locations: Wells Fargo
Big Tech stocks have a high earnings bar to clear
  + stars: | 2024-10-29 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
Overall S & P 500 profit growth is tracking below what analysts anticipated heading into the reporting period. Still, the S & P 500 is less than 1% below a record high reached earlier this month. Solita Marcelli, UBS Global Wealth Management chief investment officer for the Americas, also warned that high valuations could be a problem for megacap tech stocks as earnings roll out. Technical patterns based on price charts aren't too favorable, either, heading into megacap tech earnings. The Technology Select Sector SPDR Fund (XLK) in June hit its highest level relative to the S & P 500 since March 2000 , when the dot-com bubble peaked.
Persons: Solita Marcelli, Marcelli, Wells Fargo Organizations: Google, Microsoft, Apple, Nasdaq, UBS Global Wealth Management, Netflix Locations: Americas
Tech stocks could be in for a reckoning, this chart shows
  + stars: | 2024-10-28 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
Since then, the XLK is down 6% relative to the broad market index. "The level it peaked at almost exactly coincides with where the Tech ETF peaked on a relative basis in 2000. Not exactly what you want to see if you're an investor putting new money to work within Tech," he wrote. The SMH closed Friday at $252.96, and the strategist expects the $233 level to be tested near term. "We still exercise some degree of caution when we view Technology stocks, as short term trends and near-term momentum appear to be stalling," O'Hara wrote.
Persons: Wolfe, Rob Ginsberg, Ginsberg, Roth MKM, JC O'Hara, O'Hara, Wells Organizations: Wolfe Research, Tech ETF, VanEck Semiconductor, Nasdaq, Dow Jones, Microsoft, Apple Locations: Wells Fargo
New York CNN —Target is lowering the price of its Thanksgiving meal bundle, adding to the roughly 8,000 products that have been discounted as it attempts to attract inflation-weary shoppers during the holiday season. Target is the latest major retailer to chop the price of its Thanksgiving meal bundle, joining Aldi and Walmart in a holiday price war. Sam’s Club last week announced a Member’s Mark Thanksgiving meal, which feeds up to 10 people for under $100, made up of the warehouse club’s private label products and is delivered already cooked. Food price inflation has moderated substantially during the past year, Consumer Price Index data shows. Gomez said Target customers are buying in bulk to save money, or purchasing smaller items that have cheaper prices compared to their full-sized counterpart.
Persons: Rick Gomez, Dr, Michael Swanson, Gomez, , Organizations: New, New York CNN, Target, CNN, Aldi, Walmart, Sam’s, of Labor Statistics, Food Institute Locations: New York, Wells
Wells Fargo sees outperformance from Spotify ahead. These are all the components of a premium growth stock." "We think SPOT is viewed as a positive actor due to its investments in [user interface] and cont'd sub growth," the analyst said. "More likely, we think SPOT and its Label partners could look to find new avenues of monetization, which might incl. SPOT YTD mountain SPOT, year-to-date The stock moved nearly 1% after Cahall's call.
Persons: Wells, Steven Cahall Organizations: Spotify
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEnergy sector has bad news baked in, potential upside from here, says Wells Fargo’s Sameer SamanaVirtus’ Joe Terranova and Wells Fargo’s Sameer Samana, join 'Closing Bell' to discuss markets, treasury yields and energy and oil sector performance.
Persons: Wells, Sameer Samana, Joe Terranova Organizations: Email Energy
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Virtus’ Joe Terranova and Wells Fargo’s Sameer SamanaVirtus’ Joe Terranova and Wells Fargo’s Sameer Samana, join 'Closing Bell' to discuss markets, treasury yields and energy and oil sector performance.
Persons: Virtus ’ Joe Terranova, Wells, Sameer Samana, Joe Terranova Organizations: Virtus ’
Spotify — The music platform rose more than 2% after Wells Fargo named Spotify a top stock pick . Analyst Steven Cahall is particularly bullish on the company's rising margins, strong product mix and evolving record label relationships. Boeing — Shares of the planemaker slipped roughly 2% after Boeing launched a stock offering that could raise roughly $19 billion. McDonald's shares dropped more than 7.5% last week, marking its worst weekly performance since 2020. ON Semiconductor — Shares gained more than 3% after the semiconductor product maker posted adjusted earnings per share of 99 cents and revenue of $1.76 billion for the third quarter.
Persons: Wells, Steven Cahall, Kamala Harris, Donald Trump, FactSet, Canaccord Genuity, Nio, CrowdStrike, Sarah Min, Alex Harring, Lisa Kailai Han, Sean Conlon, Michelle Fox Organizations: Spotify, Boeing —, Boeing, Occidental Petroleum, Exxon, BP —, Citi, Exxon Mobil, BP, Taiwan Semiconductor Manufacturing, Huawei, Reuters, The, Delta Air Lines Locations: U.S, China, The U.S, Macquarie
Robinhood — The fintech stock rose less than 3% after it said Monday that users will have the chance to trade a Kamala Harris or Donald Trump contract ahead of next week's presidential election. ON Semiconductor — The semiconductor product maker rose 5% after third-quarter earnings and revenue topped analyst estimates. Nutanix — The cloud infrastructure stock rose 4% following an upgrade to overweight from equal weight at Morgan Stanley. Moderna — Shares jumped after Moderna and Merck said they initiated a phase 3 trial investigating a treatment for non-small cell lung cancer. Moderna shares advanced 3.9%, while Merck was slightly higher.
Persons: Wells, Steven Cahall, Kamala Harris, Donald Trump, Israel, FactSet, Eugene Hsiao, Wolfe, Roy Jakobs, Nutanix, Morgan Stanley, Meta Marshall, Merck, Timothy Wojs, Aaon, — CNBC's Sean Conlon, Michelle Fox, Alex Harring, Sarah Min, Pia Singh Organizations: Spotify, U.S . Occidental Petroleum, Exxon, BP —, Citi, McDonald's, Taiwan Semiconductor Manufacturing, Huawei, Reuters, The U.S, Delta Air Lines, CrowdStrike, Honeywell —, Philips —, , Moderna, Merck, Baird Locations: China, Atlanta
Reflexivity is a startup cofounded by two former hedge fund traders. AdvertisementA startup looking to transform how investors and traders use data just received funding from some of the biggest names in the hedge fund world. Reflexivity, formerly known as Toggle AI, just raised its $30 million Series B, the startup announced Monday. Interactive Brokers and Greycroft led the round, which included participation from billionaire investor Stanley Druckenmiller and Greg Coffey, the Australian founder of hedge fund Kirkoswald. AdvertisementIt has a valuation between $115 million and $150 million, Szilagyi said.
Persons: , Greycroft, Stanley Druckenmiller, Greg Coffey, Izzy Englander, Reflexivity, Jan Szilagyi, Szilagyi, George Soros, Giuseppe Sette, Howard, Wells, Szilyagyi, that's Organizations: Service, Interactive, Millennium, Catalyst, P, Business, Druckenmiller's Duquesne Capital Management, Fortress Investment Group, Millennium Management, Soros Fund, London Stock Exchange Group, Federal Reserve Locations: Australian, MUFG, Fargo, Wells Fargo
Morgan Stanley initiates FrontView REIT as overweight Morgan Stanley said the commercial real estate investment trust company is well positioned. " Morgan Stanley downgrades Global Foundries to equal weight from overweight Morgan Stanley said it sees rising competition for the semis company. " Morgan Stanley upgrades Nutanix to overweight from equal weight Morgan Stanley said the cloud computing software company is well positioned. " Morgan Stanley downgrades Ciena to equal weight from overweight Morgan Stanley said it sees a more balanced risk/reward for the networking and systems software company. Wedbush adds Roblox to the best ideas list The firm said it sees robust revenue growth ahead.
Persons: Cantor Fitzgerald, Morgan Stanley, FrontView, Baird, AAON, Canaccord, Tesla, Jefferies, NTNX, Wells, Raymond James downgrades, Wolfe, DOV, Morgan Stanley downgrades Ciena, Piper Sandler, Bowlero, Piper, Goldman Sachs, Goldman, it's bullish, Marcellus, Bernstein, SARO, Stifel downgrades, Oppenheimer, Monness Crespi Hardt, Coinbase, Stifel, it's Organizations: Nvidia, Broadcom, MU, JPMorgan, Apple, Dell, Cisco, Spotify, Honeywell, Walmart, " Bank of America, Antero Resources, Bank of America, Macquarie, China EV, Stifel downgrades Colgate, Palmolive, Colgate, Commerce, ~$ Locations: AVGO, 1H25, Dover, Appalachia, Utica, West Virginia
The Invesco Solar ETF (TAN) and the iShares Global Clean Energy ETF (ICLN) have tumbled more than 9% and 10%, respectively. While Trump's platform says he wants to unleash production from all sources, the document specifically calls out oil, gas and nuclear. How voters perceive the two candidates' energy policies could end up playing an influential role in the outcome of the election altogether. While the election will bring short-term volatility, the solar industry remains well positioned for long-term growth, according to Bank of America. About 25% of oil and 10% of natural gas production is on federal land and waters, according to the bank.
Persons: Donald Trump, Kamala Harris, Harris, fracking, Barack Obama, Trump, Steve Fleishman, Roger Read, Read, Biden, Morgan Stanley Organizations: Trump, Republican, Green New, Clean Energy, Bank of America, Keystone State, GOP, Republicans, Democratic, Wolfe Research, Wells, Wells Fargo Securities . Oil, Biden, CNBC, Exxon, Chevron Locations: Wisconsin , Michigan, Pennsylvania, China, Trump, Wells Fargo, U.S, New Mexico, Gulf of Mexico, Alaska, Iran, Tehran
Analyst Ike Boruchow and the bank's consumer team found the tariffs proposed by the Republican nominee are likely a significant challenge for retailers. High tariffs would be the latest hit after what has already been a tough year, with shares of the value-focused retailer diving 59% in 2024. Target is an even larger retailer that Wells Fargo is concerned will suffer from high tariffs enacted in a second Trump term. After this monster run, the average analyst only foresees further upside of about 2.5% for Walmart over the next year, the LSEG survey says. Still, the majority of analysts are unwilling to abandon the nation's largest retailer and hold buy ratings on Arkansas-based Walmart.
Persons: Donald Trump, Ike Boruchow, Trump, Boruchow, Wells, SPX Organizations: White, Republican, Wall, Trump, Walmart Locations: Wells, China, Minneapolis, Arkansas
And how should investors be thinking about future equity returns as the bull market enters its third year riding stellar multi-year performance and facing demanding valuations? So, expansionary policies that would quicken the economy's metabolism and produce more inflation was exactly what the market craved then – but now? Right now, the S & P 500 is up 42% from 18 months ago and fetches 22-times expected earnings. No reliable augurs of a coming bear market are in evidence: S & P up 10 of 11 months, making a new high in September, credit spreads resolutely narrow, all point to an upside bias over a span of months, at least. .SPX YTD mountain S & P 500, YTD Which leaves the question of just how much upside, if any, a bull should reasonably expect from here.
Persons: Warren Pies, Pat Tschosik, Ned Davis, Donald Trump, payrolls, Harris, Goldman Sachs, Goldman Organizations: Federal Reserve, Treasury, Fed, 3Fourteen Research, Trump, Ned, Ned Davis Research, Dow, Leuthold, quicken, Wall Locations: U.S, China, Wells
A handful of companies reporting results in the upcoming week could see an earnings-powered boost. Megacap titans Microsoft , Amazon and Apple will headline the week, alongside other names within the travel, pharmaceuticals, energy and restaurant sectors. CNBC Pro screened FactSet for the companies reporting earnings next week that could receive a positive earnings surprise and see a jump in their shares. More than eight out of 10 of analysts covering Amazon view it as a buy, and the average price target suggests about 31% upside. Shares of Aptiv could rise another 29% from here, according to the average price target.
Persons: TD Cowen, Cowen, Andrew Kligerman, Aptiv, Wells, Colin Langan Organizations: Dow Jones, Megacap, Microsoft, Apple, CNBC, Insurance, MetLife, Bank of America, Citi, Amazon, Mastercard, Visa
We're selling 100 shares of Wells Fargo at roughly $65 each. We're ringing the register on some Wells Fargo shares after a huge run since third-quarter earnings on Oct. 11. WFC YTD mountain Wells Fargo YTD Wells shares have been on a tear since the report, rallying from $57.75 to $65.50 — good for a gain of nearly 14%. 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's, YTD Wells, We're, Charlie Sharf, Jim Cramer, Jim Organizations: WFC, YTD, Fed, CNBC Locations: Wells Fargo, Wells
(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. A bullish take on emerging markets and insight into an artificial intelligence company were also discussed. CEO Alan Trefler appeared on "Worldwide Exchange" to discuss outlook for the future of his business. Eyeing emerging markets for opportunity Alan McKnight of Regions Bank is bullish emerging markets, citing the outperformance since the Fed rate cut in September but said China is a key factor.
Persons: Katrina Dudley, Franklin Templeton, Dudley, Wells, Alan Trefler, Alan McKnight, McKnight, it's Organizations: PRO, Worldwide, Federal Reserve, Verizon, Mobile, Citi, Regions Bank Locations: China, India, Brazil
Here are Thursday's biggest calls on Wall Street: KeyBanc downgrades Verizon to sector weight from overweight KeyBanc downgraded the telecom provider following earnings. Jefferies initiates California Resources at buy Jefferies says the energy company has a differentiated offering. " TD Cowen reiterates Microsoft as buy The firm recommended Microsoft heading into earnings next week. Bank of America reiterates Amazon as buy Bank of America touted Amazon ahead of earnings next week. Morgan Stanley reiterates Tesla as overweight The firm says it's sticking with top pick Tesla following earnings on Wednesday.
Persons: KeyBanc, Jefferies, Bernstein, ServiceNow, TD Cowen, Wells, Susquehanna, Lisa Su, SRE, Morgan Stanley, Tesla, Rosenblatt, Apple Organizations: Verizon, " Bank of America, IBM, Bank of America, CRC, Facebook, Google, Microsoft, Deutsche Bank, Deutsche, JPMorgan, NextEra Energy Partners, NextEra Energy, AMD, Sempra Energy Locations: California, Regions
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's Tesla's bull and bear case following its earnings stock popColin Langan, Wells Fargo analyst, and Tom Narayan, RBC Capital Markets analyst, join 'Squawk on the Street' to discuss each analyst's investment thesis on Tesla following its quarterly earnings results.
Persons: Colin Langan, Wells, Tom Narayan Organizations: RBC Capital Markets, Tesla Locations: Wells Fargo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Wells Fargo's Colin Langan and RBC's Tom NarayanColin Langan, Wells Fargo analyst, and Tom Narayan, RBC Capital Markets analyst, join 'Squawk on the Street' to discuss each analyst's investment thesis on Tesla following its quarterly earnings results.
Persons: Wells Fargo's Colin Langan, Tom Narayan Colin Langan, Wells, Tom Narayan Organizations: RBC Capital Markets, Tesla Locations: Wells Fargo
TSLA YTD mountain Tesla stock in 2024. Jonas reiterated his overweight rating on Tesla stock, and his price target implies 45% upside. Wells Fargo, $125 per share price target Wells Fargo isn't a buyer after the strong results, citing high valuations. His neutral rating and $250 per share price target implies roughly 17% upside ahead. Barclays, $220 per share price target Barclays had positive takeaways from the report but reaffirmed that questions remain around Tesla's artificial intelligence and full self driving initiatives.
Persons: Elon Musk, Tesla, they're, Morgan Stanley, Morgan Stanley's Adam Jonas, Jonas, Wells, Colin Langan, Langan, Goldman Sachs, Mark Delaney, Delaney, Dan Levy, Levy, John Murphy, Murphy Organizations: FactSet, Tesla, Barclays, Bank of America Locations: Texas, California, Shanghai
But there are some weak points — like a growing federal debt load. There are a few less-rosy data points out there, like rising long-term unemployment and a historically high level of federal debt. Federal debt is high compared to GDP, even looking beyond the spike of the debt as a share of GDP during the pandemic. While federal debt as a share of GDP was slightly above 100% before the pandemic, recent figures are much higher than in the past. Federal debt was 120% of GDP in the second quarter of this year.
Persons: , Kamala Harris, Donald Trump, Mark Hamrick, Kurt Reiman, Reiman, They're, aren't, Hamrick, There's, Biden Organizations: Service, The New York Times, Siena College, Pew Research, Associated Press, NORC, for Public Affairs Research, University of Michigan's, Consumers, UBS Global Wealth Management, Federal Reserve, MarketWatch Locations: America, Wells Fargo
Brendan McDermid | ReutersThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineLike an unwelcome ex-partner who shows up during the most inopportune times and refuses to leave, Treasury yields too have made a return and are hogging the market limelight. It's not inconceivable, then, that the strong economy might prompt the Fed to slow down, or even hold back, its rate cuts. The stock market slumped as yields rebounded.
Persons: Brendan McDermid, Brent Schutte, Paul Hickey, Hickey, Wells, they'll, , Jeff Cox, Lisa Kailai Han, Pia Singh, Brian Evans Organizations: New York Stock Exchange, Reuters, CNBC, U.S . Federal Reserve, Fed, Northwestern Mutual Wealth Management, Dow Jones Industrial, Nasdaq Locations: TY, New York City, U.S
A man whom authorities named the “Penguin Bandit” was sentenced to more than 13 years in federal prison last week after robbing multiple banks in the Denver, Colorado area. The teller told Ruthstrom that he activated a “distress system” in the cash dispenser which gives out $400 in twenty-dollar bills and triggers a hold-up alarm. According to the complaint, Ruthstrom asked for more money, so the teller did this two more times and gave him a total of $1,200 before he left. The note from the Jan. 18 robbery demanded that the teller give over $10,000 in hundred and fifty dollar bills. Ruthstrom's robbery note from 2043 S. Colorado Blvd on Jan. 18.
Persons: , Samuel Richard Ruthstrom, District of Colorado Matt Kirsch, Ruthstrom’s, Ruthstrom, waddle, Jeep Organizations: Attorney, District of Colorado, Denver Police Department, Zing Credit Union, Colorado, United States, FBI Locations: Denver , Colorado, , Wells, Jan
Some analysts expect Tesla's third-quarter earnings to signal a turning point, while others see more pain ahead. AdvertisementTesla will report third-quarter earnings results after the market close on Wednesday, and Wall Street will be hyper-focused on the company's core auto business. However, some analysts on Wall Street expect the upcoming third-quarter earnings print will be a sign that the worst is behind Tesla. Here's what Wall Street expects from Tesla's upcoming earnings report. But perhaps more important than vehicle deliveries for Wall Street is Tesla's profit margins.
Persons: , Tesla, Dan Levy, Levy, Wells, Colin Langan, Langan, Dan Ives, Ives, Joel Levington, Levington Organizations: Service, Wall, Barclays, Tesla Energy, Tesla, Bloomberg Intelligence, Acura, Volvo Locations: Wells Fargo, Wells
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