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Stocks stuck to a holding pattern this week as investors brace for an incoming wave of Big Tech earnings and the Fed's favorite inflation reading. Earnings reports have generally been better than expected so far this first quarter. Humana (HUM) reports before the bell Wednesday; Meta Platforms and Pioneer Natural Resources (PXD) report after the bell Wednesday. ET: Personal Spending & Income (includes PCE Price Index) Club trades this week Just one trade: We added 150 shares of Coterra Energy (CTRA) on Wednesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Pinterest — Pinterest gained 4.3% after UBS upgraded the social media stock to buy and said shares could pop more than 25% as the company improves its advertising strategy. First Republic , PacWest — Regional bank stocks were moving higher on Monday following a report from Bloomberg News that U.S. authorities were considering expanding government support for banks to provide additional liquidity. Shares of First Republic jumped 23% in premarket trading, while PacWest Bancorp rose about 9%, and Western Alliance gained 5%. KeyCorp — KeyCorp gained 6.8% after Citi upgraded the stock to buy from neutral. Corning — Shares advanced 2.3% after Deutsche Bank upgraded Corning to buy from hold.
First Citizens BancShares — The Raleigh, NC-based bank soared 50% after agreeing to buy Silicon Valley Bank's deposits and loans. Roku — Shares of the media platform jumped more than 4% after Susquehanna upgraded it to positive from neutral. The Wall Street firm said it continues to see Roku as "a prime beneficiary of the secular shift of linear budgets." It reaffirmed revenue of $2.95 billion to $3 billion, compared to $3 billion expected by analysts, per StreetAccount. Marqeta — The payments stock jumped nearly 10% after Wolfe Research upgraded it to outperform from peer perform.
Here are Monday's biggest calls on Wall Street: Susquehanna upgrades Roku to positive from neutral Susquehanna said it sees an attractive risk/reward for the stock. Citi upgrades KeyCorp and M & T Bank to buy from neutral Citi upgraded several regional banks on Monday and said the risk/reward looks compelling. Morgan Stanley reiterates Amazon as overweight Morgan Stanley said it sees 50% upside for shares of the e-commerce giant. Morgan Stanley reiterates Walmart as overweight Morgan Stanley said it sees an attractive risk/reward heading into the company's investment community meeting on April 4. Morgan Stanley moves First Republic to no rating Morgan Stanley removed its estimates and ratings on the stock due to too much uncertainty.
Corning shares could rally as earnings hit a bottom, according to Deutsche Bank. Analyst Matthew Niknam upgraded the materials stock to buy from hold, and increased his price target by $3 to $38, which implies the stock could gain 15.7% from where it closed Friday. Niknam expects tailwinds to gross margin to help drive earnings per share as the year progresses. He expects Corning to earn 40 cents per share in the first quarter, which will then grow to 47 cents per share by the second quarter. By the end of 2023, quarterly earnings will rise to 59 cents per share, he said.
I’ve typically done this stock picking feature in early to mid February as a Stocks We Love type of story, pegging it to Valentine’s Day. The restaurant stocks in particular could do well. Inflation is obviously still a concern for big consumer brands. Consumer prices rose 6.5% over the past 12 months through December, down from a 7.1% pace in November. Up nextMonday: Earnings from TreeHouse Foods (THS), Avis Budget (CAR), FirstEnergy (FE), IAC (IAC) and PalantirTuesday: US CPI; Japan GDP; UK employment report; earnings from Coca-Cola, Asahi Group, Marriott (MAR).
Looking forward The January consumer price index (CPI) , which calculates the average change over time in prices that shoppers pay for goods and services, is slated for Tuesday. Economists and investors will use the number to gauge the odds of a soft landing or hard landing for the economy. The producer price index (PPI) for January, which calculates the change in selling prices received by producers of goods and services, is out on Thursday. 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.
Grade my trade: OC, X, PYPL & NVDA
  + stars: | 2023-02-10 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGrade my trade: OC, X, PYPL & NVDACNBC’s ‘Halftime Report’ investment committee, Jason Snipe, Brenda Vingiello, Bryn Talkington and Steve Weiss, weigh in on the Owens Corning, US Steel, PayPal and Nvidia trades.
JERUSALEM, Feb 9 (Reuters) - Earth & Beyond Ventures, a new early-stage venture fund investing in Israel’s emerging commercial space ecosystem, said on Thursday it had launched with commitments of $125 million. Earth & Beyond said it was backed by manufacturer and NASA supplier Corning Inc (GLW.N), Japanese electronics giant Kyocera Corp (6971.T), Israeli satellite firm SpaceCom (SCC.TA) and Samtec, a manufacturer of electronic connectivity components. Earth & Beyond said it would invest between $500,000 to $2 million for seed and pre-seed companies in technologies such as semiconductors, robotics, new materials, sensors, smart farms, quantum computing, solar power, cyber security, and alternative proteins. "Our job ... is to identify and support the deep technologies and ideas that can become powerful applications not just here on earth, but in space as well," said Earth & Beyond CEO Baruch Schori. Reporting by Steven Scheer Editing by Ari RabinovitchOur Standards: The Thomson Reuters Trust Principles.
Morning Bid: 'Soft landing' or 'no landing'?
  + stars: | 2023-01-31 | by ( ) www.reuters.com   time to read: +5 min
As U.S. Federal Reserve's Federal Open Market Committee kicks off its two-day policymaking meeting, the economic news from around the world brightened considerably. China's economic activity swung back to growth in January after three months of contraction, according to official business surveys released on Tuesday. The euro zone economy confounded forecasts for a quarterly contraction of gross domestic product in the final three months of 2022. Eurostat estimated GDP in the bloc rose 0.1% in Q4 despite consensus expectations for a fall of 0.1%. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
While only six companies in the Dow Jones Industrial Average are reporting next week, about 20% of the S & P 500 reports, making it the biggest week of earnings this season. The Dow and the S & P 500 gained 2.2% and 2.9% this week, respectively, while the Nasdaq Composite rose 4.7%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. 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.
The Fed's meeting Tuesday and Wednesday comes amid a flood of corporate earnings reports, with about 20% of the S & P 500 reporting that week. The most important day for earnings is Thursday, when Apple , Alphabet and Amazon report after the bell. The Nasdaq Composite was up 11% for the month as of Friday afternoon, well ahead of the 6.2% gain in the S & P 500. Traders have been watching the S & P 500 edge closer to the key threshold of 4,100 , its high from December. AAPL 1Y line apple Apple is also important because of the signals it can send about the strength of the consumer, supply chains and China's reopening.
But with the dollar's stunning reversal since then, some companies should conversely start to catch a currency break and potentially see upside surprises. In the fourth quarter, because of the sophisticated hedging strategies from companies, they may not get the full benefit of the dollar's decline. Johnson & Johnson, for instance, said fourth quarter sales fell, in part because of the negative impact from currency translation. 3M said fourth quarter sales were 5% lower than they would have been were it not for the stronger dollar. Sacconaghi said the market has typically rewarded tech companies' "currency beats."
Final Trades: Nextera, Corning & more
  + stars: | 2023-01-17 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: Nextera, Corning & moreThe "Halftime Report" traders give their top picks to watch for the second half.
Cramer's lightning round: I'm very concerned about Veru
  + stars: | 2023-01-06 | by ( Krystal Hur | ) www.cnbc.com   time to read: +1 min
Loading chart...Veru Inc : "I'm very concerned about it." I think we're going to have to take a major league pass." Suburban Propane Partners LP : "[The] propane market is historically, let's say, too volatile and erratic for me." Loading chart...Axon Enterprise Inc : "It's a terrific law enforcement package that I think is really good for everybody. Loading chart...Nuscale Power Corp : "If you want small, nuclear modular reactors, I'm going to have to say, the Constellation Energy group.
Check out the companies making headlines in premarket trading. Shares of GE were up about 2% in premarket trading. Microsoft — Microsoft shares dropped about 2% after UBS downgraded the tech giant to neutral from buy. Merck — Merck's stock rose about 1.7% after being upgraded to buy from neutral by Bank of America. Honeywell — Shares of Honeywell slipped 1.8% in the premarket after being double downgraded by UBS to sell from buy.
The Wynn Resorts logo stands illuminated as people sit by the fountain at the Wynn Macau casino resort in Macau, China, on Tuesday, July 24, 2018. Check out the companies making the biggest moves midday:Wynn Resorts — The casino operator's stock jumped nearly 7%, building on its solid start to 2023. Salesforce — Shares of the cloud-based software company jumped more than 3% after Salesforce announced that it is cutting 10% of its personnel and reducing some office space as part of a restructuring plan. Celanese — The global chemical and specialty materials company jumped more than 6% after being upgraded by RBC Capital Markets to outperform from sector perform. The firm cited the solar company stock's "steep drop from the initial euphoria created by the Inflation Reduction Act."
Here are the biggest calls on Wall Street on Monday: UBS downgrades Microsoft to neutral from buy UBS said in its downgrade of the stock that it's concerned about Microsoft Office risks. Wells Fargo downgrades Target to equal weight from overweight Wells said in its downgrade of the stock that it sees too much 2023 uncertainty. " UBS downgrades JB Hunt to neutral from buy UBS said in its downgrade of the shipping company that it sees volume and pricing risk. UBS downgrades Honeywell to sell from buy UBS said in its downgrade of the stock that the multiple is "inflated." UBS reiterates Amazon as buy UBS lowered its price target on the e-commerce giant to $125 per share from $165 but says it's standing by the stock.
Investors can expect a clear path forward for Corning , according to Credit Suisse. Analyst Shannon Cross upgraded shares to outperform from neutral, saying the company's previous challenges no longer weigh on the stock. We forecast growth to reaccelerate through 2023 aided by multi-year government funding programs (~$85B allocated to broadband in the US) and overall growing network/cloud demand," Cross wrote. Meanwhile, TV panel production is expected to recover after hitting a 14-year low in September, which could further support the stock. Corning shares were down roughly 12% in 2022.
During his second stint as CEO of Corning, James Houghton put a renewed focus on quality and hired a psychologist to coach senior managers on teamwork. Jamie Houghton liked to joke that he “failed retirement.”When he stepped down as chief executive of Corning Inc. in 1996 after 13 years of running the company founded by his great-great grandfather, Mr. Houghton said Corning’s outlook was bright. “We’re concentrating on communications, environment and life sciences, all of which are dynamite areas to be in,” he said.
Zscaler (ZS) – The cloud security company reported a better than expected quarter, but its stock slumped 9.1% in premarket trading following conservative guidance. Horizon shares had soared 27.3% last Friday on news that it was in talks with several potential takeover partners. DoorDash (DASH) – DoorDash shares fell 2.8% in premarket trading after RBC Capital Markets downgraded the stock to "sector perform" from "outperform." Rigel Pharma (RIGL) – Rigel's stock soared 34% in the premarket after the FDA approved its drug to treat a certain type of leukemia. PagerDuty (PD) – The cloud computing company's stock jumped 6.6% in premarket trading after it reported an unexpected quarterly profit.
A wave of unrest in China could spell trouble for investors holding stocks with sizeable chunks of revenue exposed to the country. Protests erupted across China over the weekend as citizens pushed back against the country's strict and prolonged zero-Covid protocols . Here are some of the stocks we found: Tesla is the largest company on the list by market capitalization, with more than a quarter of its revenues exposed to China. Another stock in our screen is elevator manufacturer Otis Worldwide , with a little over 20% of revenues exposed to the country. Many semiconductor stocks such as Intel , Nvidia and Advanced Micro Devices also made the list — including Qualcomm , with the highest revenue exposure to China on the list.
The free feature promises to let iPhone users contact dedicated dispatchers in emergency situations via satellites when a cell phone network is unavailable. During my test with an iPhone 14 provided by Apple, I attempted to call 911 but was automatically redirected to Emergency SOS via Satellite dispatchers for the purposes of the demo. On Tuesday, Apple will launch the Emergency SOS with Satellite feature for those with an iPhone 14 in the United States and Canada. Apple said because the user may be in a distressed state, a questionnaire helps to gather critical information more quickly. For now, Emergency SOS via satellite only works in English, Spanish, and French, although the dispatchers have professional interpretation services available for many more languages.
Nov 11 (Reuters) - More than 1,000 shipments of solar energy components worth hundreds of millions of dollars have piled up at U.S. ports since June under a new law banning imports from China's Xinjiang region over concerns about slave labor, according to federal customs officials and industry sources. The agency would not reveal the manufacturers or confirm details about the quantity of solar equipment in the shipments, citing federal law that protects confidential trade secrets. But the companies have halted new shipments to the United States over concerns additional cargoes will also be detained, the industry sources said. The sources asked not to be named because they were not authorized to speak publicly on the matter. CBP has previously said that it had detained about 1,700 shipments worth $516.3 million under UFLPA through September but has never before detailed how many of those shipments contained solar equipment.
Apple said Thursday it will spend $450 million with U.S. companies to enable its new emergency satellite texting feature. The majority of that money will go to Globalstar , Apple said, a Louisiana-based company that operates the satellites that make the feature possible. Apple isn't taking an equity stake in the company but it is committing to spend money for equipment and the service's operations. In September, Apple announced Emergency SOS with Satellite as a banner feature on new iPhone 14 models. Apple's payment to Globalstar will come from Apple's Advanced Manufacturing Fund, a pool of money the company uses to support U.S.-based suppliers.
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