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☆ Stocks making the biggest moves midday: Micron, Tesla, Ulta, Intel and more
▼ + stars: | 2024-09-23 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: Micron Technology — Micron edged 2.7% higher after JPMorgan reiterated the stock as overweight ahead of the memory chipmaker's earnings, which are expected Wednesday after market close. Monday's gain put the stock on track for its biggest advance since Aug. 28, when it popped 9%. Ulta — The cosmetics stock lost more than 3% after a downgrade to hold from buy at TD Cowen. Biohaven — Shares surged 12% after the clinical-stage pharma company announced positive trial data for its drug treating spinocerebellar ataxia known as troriluzole. Intel — Shares of the struggling chipmaker climbed 2.4% after Bloomberg News reported on Sunday that Apollo Global Management proposed to make a multibillion-dollar investment in Intel.

Persons: Harlan Sur, General Motors, Bernstein, Cowen, troriluzole, Ciena, Jesse Pound, Alex Harring, Samantha Subin, Sean Conlon Organizations: Micron Technology, Micron, JPMorgan, Tesla, Barclays, U.S . Army, General, pharma, Intel —, Bloomberg, Apollo Global Management, Intel, CNBC, Qualcomm, Citi

☆ Barclays playbook for the election: Stocks that win under Trump or Harris
▼ + stars: | 2024-09-22 | by ( Pia Singh | In | ) www.cnbc.com time to read: +5 min

Stocks ranging from L3Harris to Burlington could benefit from either a Trump or Harris victory this fall, according to Barclays. The analyst highlighted several overweight-rated stocks the firm expects are best-positioned to benefit from either a Trump or Harris election victory. Defense contractor L3Harris Technologies is another Trump election play. The stock, which is up about 9.1% this year, could gain another 15.4%, according to Barclay's price target. Barclays' price target of $327 implies 20.6% potential upside.

Persons: Harris, Terence Malone, Malone, Donald Trump, Kamala Harris, Trump, Gary Gensler, Bitcoin, Bernstein, Centene, bode, homebuilder D.R, Horton Organizations: Trump, Barclays, Bitcoin, Securities, Exchange, Liberty, Wednesday, Defense, L3Harris Technologies, UnitedHealth, Biden, Democratic Party, Affordable, Burlington Locations: L3Harris, Burlington, Nashville, MicroStrategy, U.S, It's

Meanwhile, Morgan Stanley downgraded PepsiCo to equal weight. 7 a.m.: FedEx could slide more than 30% as 'structural challenges' are here to stay, Morgan Stanley says Morgan Stanley analyst Ravi Shanker downgraded FedEx to underweight from equal weight after the shipping company's earnings came in below expectations. — Pia Singh 6:33 a.m.: E-commerce stock MercadoLibre has more than 18% upside, according to Morgan Stanley Morgan Stanley is bullish on Argentine e-commerce firm MercadoLibre . — Pia Singh 5:49 a.m.: Evercore ISI hikes Amazon price target Evercore ISI is betting big on Amazon's streaming service. — Pia Singh 5:49 a.m.: Morgan Stanley downgrades PepsiCo Don't expect PepsiCo shares to make much headway going forward, according to Morgan Stanley.

Persons: Morgan Stanley, Ravi Shanker, Shanker, — Pia Singh, Morgan Stanley Morgan Stanley, Andrew Ruben, Ruben, Morgan Stanley downgrades ASML, ASML, Lee Simpson, Simpson, Mark Mahaney, Mahaney, Andy Jassy, Dara Mohsenian, OSG, Mohsenian, Fred Imbert Organizations: CNBC, ISI, PepsiCo, FedEx, Semiconductor, Intel, NBA, Amazon Prime, Amazon, Pepsi Locations: FedEx's, Argentine, Argentina, Netherlands, China, Thursday's

☆ Morgan Stanley says this pharma stock can rally more than 60% thanks to its narcolepsy treatment
▼ + stars: | 2024-09-20 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Centessa Pharmaceuticals could be at the forefront of a leading narcolepsy treatment that can send its shares soaring, according to Morgan Stanley. One of the company's drugs is ORX750 for the treatment of sleep-wake disorders, including narcolepsy type 1 and 2, or NT1 and NT2. Additionally, Centessa is developing ORX142 for the treatment of excessive daytime sleepiness, or EDS, in certain neurological, neurodegenerative and psychiatric disorders. The drug is designed to increase wakefulness, reduce cataplexy and potentially be a novel treatment for narcolepsy type 1. Given the firm's view of ORX750 as a now de-risked mechanism for treating narcolepsy, Hung modeled a higher peak market share for the treatment in NT1 by 2036.

Persons: Morgan Stanley, Jeffrey Hung, narcolepsy, Hung Organizations: Pharmaceuticals, IH, EDS Locations: NT1, NT2

☆ Stocks making the biggest moves midday: Tesla, Mobileye Global, Darden Restaurants and more
▼ + stars: | 2024-09-19 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Tech stocks — Key tech names rallied a day after the Federal Reserve's supersized rate cut decision. Coursera — The online education platform jumped more than 8% on the back of Bank of America's initiation at a buy rating. Uber shares rose 3%. NextEra Energy Partners — The stock rose more than 3% on the heels of Jefferies initiating coverage with a buy rating. Crypto stocks — Stocks tied to bitcoin's price climbed as the cryptocurrency moved more than 4% higher following the Fed's rate cut on Wednesday.

Persons: Tesla, Meta, Coursera, Uber, DoorDash, Jefferies, Stocks, MicroStrategy, Alibaba, Alex Harring, Samantha Subin, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: Tech, Federal, Nvidia, Therapeutics, Intel, Bank of, Darden, DoorDash, NextEra Energy Partners, JPMorgan Locations: Mobileye, Olive

☆ Stocks making the biggest moves premarket: Darden Restaurants, Nvidia, DoorDash, Coursera and more
▼ + stars: | 2024-09-19 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Darden Restaurants — Shares advanced nearly 11% after the restaurant operator announced a multiyear partnership with Uber for on-demand delivery later this year. The company reported weaker-than-expected quarterly earnings and revenue, however, as its sales weakened at Olive Garden and its fine dining restaurants. DoorDash — The food delivery stock rose more than 3% after an upgrade to buy from neutral at BTIG. Alibaba – Shares rose more than 4% after the Chinese e-commerce company launched more than 100 open-source artificial intelligence models and a text-to-video tool. FedEx — Shares rose more than 1% ahead of the shipping giant's first-quarter earnings report due after the bell.

Persons: Uber, Jefferies, chipmakers, FactSet, Alibaba, Max, Stocks, bitcoin, — CNBC's Sean Conlon, Alex Harring, Samantha Subin, Jesse Pound, Brian Evans, Sarah Min, Michelle Fox Theobald Organizations: Darden, Olive, NextEra Energy, Nvidia, Arm Holdings, Micron, Micron Technology, FedEx —

☆ Stocks making the biggest moves midday: Intuitive Machines, U.S. Steel, Victoria's Secret and more
▼ + stars: | 2024-09-18 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: Intuitive Machines — Shares soared 51% after the space exploration company secured a roughly $5 billion space network contract from NASA. The move is likely intended to push a decision on the politically controversial takeover past the presidential election in November. Victoria's Secret — The intimate apparel maker gained 5% after Barclays upgraded shares to equal weight from underweight, citing a more balanced risk/reward backdrop. The investment firm said VF Corp should start to see benefits from last year's CEO change this fall. Casella Waste Systems — The recycling company fell 5% after announcing a $400 million public offering of its Class A common stock.

Persons: Steward, McGrath RentCorp —, McGrath, Eli Lilly's GLP, — CNBC's Sean Conlon, Michelle Fox, Lisa Han, Yun Li, Jesse Pound, Pia Singh Organizations: NASA, United States Steel, Nippon Steel, Barclays, Medical Properties, Medical Properties Trust, WillScot Holdings, Wolfe Research, Casella Waste Systems Locations: U.S

☆ CNBC Daily Open: Tech might not be the biggest beneficiary of rate cuts
▼ + stars: | 2024-09-17 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Gary Hershorn | Corbis News | Getty ImagesThis 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 lineTechnology stocks benefit the most from low interest rates, conventional market wisdom says. When rates are low, that proposition appears attractive because returns are low elsewhere. This implies investors have been moving out of tech to other sectors that might experience tailwinds amid lower rates.

Persons: Gary Hershorn, Goldman Sachs, Christopher Barto, It's, CNBC's Hakyung Kim, Pia Singh, Yun Li Organizations: Trade Center, Corbis, CNBC, Nvidia, Meta, U.S . Federal, VanEck Semiconductor, Nasdaq, Dow Jones, Fort Pitt Capital Locations: Manhattan, Jersey City , New Jersey

☆ Best dividend stocks to buy as rate cuts make their yields more attractive
▼ + stars: | 2024-09-17 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

The Federal Reserve is set to cut interest rates Wednesday for the first time in four years, which should make the yields for dividend stocks even more attractive, lifting the group. Using the CNBC Pro Stock Screener tool, we searched for stocks with a dividend yield above 3% and a low debt-to-equity ratio under 60%. Click here to view the results on CNBC Pro's Stock Screener tool and to make your own screener. Coterra Energy and ConocoPhillips are other energy names with strong dividends and attractive returns, according to the CNBC Pro screener. Other strong dividend stocks from the screen include Truist Financial and phosphate and potash mining company Mosaic .

Persons: Morgan Stanley, Devin McDermott, McDermott, Bank of America Wamsi Mohan, Mohan Organizations: Federal, Exxon Mobil, ConocoPhillips —, CNBC, Stock, CNBC Pro's, Energy, Exxon, Chevron, Devon Energy, Coterra Energy, ConocoPhillips, CNBC Pro, Hewlett Packard Enterprise, Bank of America

☆ Stocks making the biggest moves premarket: Microsoft, Intel, Shopify and more
▼ + stars: | 2024-09-17 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Microsoft — Shares were up about 2% after the tech giant increased its quarterly dividend by 10.7% to 83 cents per share. Shopify — Shares of the e-commerce stock gained 2.6% after Redburn Atlantic upgraded Shopify to buy from neutral. Shopify should continue gaining market share as the U.S. social e-commerce market appears poised for explosive growth over the next few years. AppLovin — The mobile software company rose more than 2% after UBS upgraded shares to buy from neutral. Gannett — Citi upgraded the newspaper company to neutral from sell, sending shares higher by 4%.

Persons: Jefferies, Dell, AppLovin, Gannett, —, Fred Imbert, Sarah Min, Sean Conlon, Michelle Fox Theobald Organizations: Microsoft, Intel, Dell Technologies, Mizuho Securities, UBS, Gannett — Citi Locations: 4Q24

☆ Don’t expect much from stocks for the next decade, says JPMorgan
▼ + stars: | 2024-09-16 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

As investors are navigating all the buzz about this week's potential rate cut and the upcoming presidential election, JPMorgan is forecasting a serious risk to long-term stock returns. The market appears to be too expensive relative to history, according to the firm, which is projecting a 5.7% annual return from the S & P 500 over the next decade. That is barely above half its post-World War II average, analyst Jan Loeys said in a recent note to clients. .SPX 5Y mountain S & P 500 performance over the past five years. The "Great Moderation" refers to the period from the mid-1980s to 2007 that saw low inflation and steady economic growth.

Persons: Jan Loeys, Loeys Organizations: JPMorgan

☆ CNBC Daily Open: The real question isn’t the Fed’s first cut, but where it goes after
▼ + stars: | 2024-09-16 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +4 min

CNBC's Sarah Min breaks down how a rate cut could affect the S&P 500 . Welcome to U.S. rate cut week! Furthermore, jumbo hikes of 75 basis points were enacted between June 2022 to November 2022. But given that the rate cut has been so clearly telegraphed by the Fed, it's hard to imagine it not happening. This cut might not be big in terms of basis points, but it will be big in what it signals to markets.

Persons: It's, Sarah Min, Donald Trump, Rafael Barros, Cat Stevens, Aditya Bhave, CNBC's Pia Singh, Hakyung Kim, Brian Evans Organizations: Eccles Federal Reserve, CNBC, U.S . Federal Reserve, China's National Bureau, Statistics, Republican, Federal Bureau of Investigation, Secret Service, U.S, Federal, Fed, Bank of America U.S Locations: Washington , DC, Florida, U.S

☆ Stocks making the biggest moves midday: Nuvalent, Alcoa, Sprouts Farmers Market, Apple and more
▼ + stars: | 2024-09-16 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Upstart Holdings – Shares of the personal finance firm fell 5% after the announcement of a new debt offering. Sprouts Farmers Market – Shares of the supermarket chain rose nearly 5% following an upgrade to outperform from in line at Evercore ISI. The investment firm wrote that Sprouts, which specializes in organic products, could be a beneficiary of a trend towards healthier eating. Apple – Shares slumped 3% following reports of sluggish demand for some of the company's latest iPhone models. Yelp – Shares dropped 4% after Bank of America initiated coverage of Yelp with an underperform rating.

Persons: Nuvalent, Bausch, Goldman Sachs, Morgan Stanley, Donald Trump, Ming, Chi Kuo, —, Alex Harring, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Jesse Pound Organizations: Financial Times, FT, Alcoa, Intel –, Bloomberg, Intel, Pentagon, Micron Technology, Evercore ISI, Trump Media & Technology, Apple –, TF Securities, Apple, JPMorgan, Bank of America Locations: California

☆ CNBC Daily Open: After the Fed’s first cut, where to next?
▼ + stars: | 2024-09-16 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +4 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. CNBC's Sarah Min breaks down how a rate cut could affect the S&P 500 . Welcome to U.S. rate cut week! But given that the rate cut has been so clearly telegraphed by the Fed, it's hard to imagine it not happening. This cut might not be big in terms of basis points, but it will be big in what it signals to markets.

Persons: It's, Sarah Min, Biden, Donald Trump, Rafael Barros, Cat Stevens, Aditya Bhave, CNBC's Pia Singh, Hakyung Kim, Brian Evans Organizations: Eccles Federal Reserve, CNBC, U.S . Federal Reserve, Discount, China's National Bureau, Statistics, Republican, Federal Bureau of Investigation, Secret Service, U.S, Federal, Fed, Bank of America U.S Locations: Washington , DC, Florida, U.S

☆ Stock futures are little changed as investors await major Fed decision: Live updates
▼ + stars: | 2024-09-15 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

A specials trader works at his post on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2024. Stock futures edged slightly lower Sunday night as investors await the Federal Reserve's highly anticipated policy meeting, during which central bankers are expected to cut rates for the first time since 2020. S&P 500 futures hovered below the flatline, while futures tied to the Dow Jones Industrial Average shed 4 points, or less than 0.1%. The S&P 500 is less than 1% away from its July record and could notch a new all-time high this week. Central bankers are set to meet on Tuesday and Wednesday and are widely anticipated to make their first interest rate cut since they began hiking rates in March 2022.

Persons: Brian Belski, Mills, Olive Organizations: New York Stock Exchange, Federal, Dow Jones, Nasdaq, BMO Capital, Darden, FedEx, homebuilder Locations: New York City, U.S, Olive Garden

☆ This tech stock ETF just posted one of its best weeks of the past few years
▼ + stars: | 2024-09-13 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Leading technology stocks led an eye-popping rebound rally the past five days, driving a key ETF texchange traded fund to one of its best weeks in years. The Technology Select Sector SPDR Fund (XLK) surged 8.2% this week, the most since Nov. 11, 2022, when the fund gained 10.04%. XLK YTD mountain Technology Select Sector SPDR Fund (XLK) performance this year. Investors can thank a bounce back in megacap technology and semiconductor stocks this week that lifted all three major U.S. stock indexes. That alone suggests semiconductor stocks have lost their leadership status, at least for now, Turnquist said.

Persons: ChatGPT, Jensen Huang, Blackwell, Goldman Sachs, Adam Turnquist, Turnquist Organizations: texchange, Microsoft, Nvidia, Technology, Apple, Apple Watch, Semiconductor, Broadcom, LPL Financial, PHLX Semiconductor Locations: XLK

☆ CNBC Daily Open: All key data is in — and it's made the Fed's policy path more uncertain
▼ + stars: | 2024-09-13 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Last Friday, the August employment report showed the number of jobs added was lower than expected but higher than the previous month. Wednesday's CPI report showed the lowest 12-month inflation rate in two-and-a-half years. In short, the data hasn't cleared up whether the Fed will cut by 25 or 50 basis points. They think there's a 57% chance of a 25 point cut and 43% of a 50 point one, according to the CME FedWatch tool.

Persons: Stefani Reynolds, We've, Wednesday's, Jeff Cox, Pia Singh, Sarah Min Organizations: Eccles Federal Reserve, Bloomberg, CNBC, U.S . Federal Reserve, PPI Locations: Washington ,

☆ CNBC Daily Open: Looking past sticky core inflation
▼ + stars: | 2024-09-12 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Spencer Platt | Getty Images News | Getty ImagesThis 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. The S&P 500 climbed 1.07%, the Dow Jones Industrial Average added 0.31% and the Nasdaq Composite shot up 2.17%. Core inflation, to which the Fed pays more attention because it more accurately reflects price movements, came in a bit higher than expected for the month. Core inflation was higher than the headline number because food and energy prices are stripped out from the former.

Persons: Spencer Platt, –, Jeff Cox, Pia Singh, Lisa Kailai Han Organizations: Getty, CNBC, Dow Jones, Nasdaq, Fed, of Labor Statistics, Nvidia, Reuters, U.S . House Locations: Brooklyn, New York City, U.S, Saudi Arabia

☆ CNBC Daily Open: Did Apple’s shiny new things improve market sentiment?
▼ + stars: | 2024-09-10 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Nic Coury | AFP | Getty ImagesThis 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 lineMaybe all it takes are shiny new things to lift our mood and take our minds off recession fears. Of course, Apple's event is not the sole reason markets rose yesterday. They'll also let us know if we can afford those shiny new things that Apple's dangling in front of us.

Persons: HSI, Nic Coury, I'm, Zers, CNBC's Kelly Evans, They'll, – CNBC's Pia Singh, Lisa Kailai Han Organizations: Apple, AFP, Getty, CNBC, Research, Bloomberg, Nvidia, Nasdaq, Dow Jones Industrial Locations: Cupertino , California, U.S, Cupertino

☆ CNBC Daily Open: Did Apple’s shiny new things uplift markets?
▼ + stars: | 2024-09-10 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Justin Sullivan | Getty Images News | Getty ImagesThis 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 lineMaybe all it takes are shiny new things to lift our mood and take our minds off recession fears. Of course, Apple's event is not the sole reason markets rose yesterday. They'll also let us know if we can afford those shiny new things that Apple's dangling in front of us.

Persons: Pro Max, Justin Sullivan, I'm, Zers, CNBC's Kelly Evans, They'll, – CNBC's Pia Singh, Lisa Kailai Han Organizations: Pro, Apple, Getty, CNBC, Research, Bloomberg, Nvidia, Nasdaq, Dow Jones Industrial Locations: Cupertino , California, U.S, Cupertino

☆ Stocks making the biggest moves after hours: Broadcom, DocuSign, UiPath and more
▼ + stars: | 2024-09-05 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

DocuSign's adjusted earnings of 97 cents per share for the second quarter exceeded analysts' expectations of 80 cents per share, according to LSEG. Broadcom said it sees $14 billion of revenue for the fiscal fourth quarter , while analysts called for $14.04 billion, per LSEG. Bowlero's fiscal fourth-quarter revenue came in ahead of estimates at $283.9 million, while analysts called for $273.4 million, per FactSet. Analysts polled by LSEG anticipated 13 cents per share in earnings and revenue of $1.21 billion. Adjusted earnings for the fiscal second quarter came in at 44 cents per share, while revenue was $276.4 million.

Persons: LSEG, UiPath, FactSet, —, Darla Mercado Organizations: Broadcom, Reuters

☆ Stocks making the biggest moves midday: JetBlue, Hewlett Packard Enterprise, Tesla, G-III Apparel and more
▼ + stars: | 2024-09-05 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

G-III Apparel Group — Shares surged 22% after the apparel maker posted second-quarter results that topped estimates. Adjusted earnings of 52 cents per share beat the 27 cents a share that analysts expected, according to FactSet. Hewlett Packard Enterprise — Shares dropped 6% after Hewlett Packard Enterprise saw gross margins decline from a year ago. In its fiscal first quarter, C3.ai saw $73.5 million in revenue, lower than the $79.2 million forecast by analysts polled by FactSet. In its fiscal third quarter, Toro posted adjusted earnings of $1.18 per share on revenue of $1.16 billion.

Persons: FactSet, ChargePoint, LSEG, Verint, Steven Cahall, Tesla, Zimmer Biomet, McKesson, Toro, — CNBC's Sean Conlon, Michelle Fox, Lisa Han, Alex Harring, Yun Li, Pia Singh Organizations: JetBlue Airways, JetBlue, III, Hewlett Packard Enterprise, Hewlett, Enterprise, Frontier Communications, Verizon Communications —, Verizon, Casey's, Verint Systems, Technology, —, Old Dominion, Old Dominion Freight, Toro Locations: New York, FactSet, Wells Fargo, Europe, China, Wells

☆ Stocks making the biggest moves midday: Cleanspark, Vaxcyte, Unity Software and more
▼ + stars: | 2024-09-03 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Cleanspark released its mining update for August, which showed that it mined 478 bitcoins last month. Vaxcyte – Shares were recently up more than 36% and earlier hit a record high after the vaccine company reported positive results from the Phase 1/2 study for its 31-valent pneumococcal conjugate vaccine candidate. Semiconductor stocks – Shares of some of the biggest chipmakers fell during the first trading session of the month. Last week, shares fell 19% on news of its filing delay and Hindenburg's disclosed short position. United States Steel – Shares fell around 6% after Vice President Kamala Harris opposed the planned sale of U.S. Steel to Japan's Nippon Steel at a Labor Day rally for union members in Pittsburgh.

Persons: Cleanspark, Vaxcyte, Leerink, Morgan Stanley, Redfin, Charles Liang, Hindenburg's, Hindenburg, Kamala Harris, Harris, Lisa Kailai Han, Pia Singh, Jesse Pound, Fred Imbert, Michelle Fox Organizations: Leerink Partners, Boeing, Riley Securities, Semiconductor, KLA, Nvidia, Micron Technology, Taiwan Semiconductor Manufacturing, Broadcom, Hindenburg, Securities and Exchange, United States Steel, Steel, Japan's Nippon Steel, Labor, U.S Locations: Wells, U.S, Pittsburgh, American

☆ Trading Fed rate cuts: These banks are primed to outperform when rates fall, Evercore ISI says
▼ + stars: | 2024-08-24 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

A few well-known regional banks are poised to benefit from the Federal Reserve's upcoming interest rate cuts, according to Evercore ISI. Fed Chair Jerome Powell indicated on Friday that the central bank is ready for interest rate cuts ahead , although he declined to provide the exact timing or extent of the cuts. As investors await the Fed's moves, Evercore ISI used its updated asset/liability committee scenarios and several banks' net interest income commentary to find which names appear strongest in a lower interest rate environment. According to the note, Comerica, U.S. Bancorp and Fifth Third each forecast two interest rate cuts this year. Comerica shares dipped more than 10% on July 19 after the company posted its second-quarter results.

Persons: Jerome Powell, John Pancari, Pancari, Curtis Farmer, Truist Organizations: Federal, ISI, Comerica, Truist Financial, U.S . Bancorp, Fifth Third Bancorp, FactSet Locations: U.S

☆ Stocks making the biggest moves midday: Cava, Intuit, Ross Stores, Workday and more
▼ + stars: | 2024-08-23 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Cava Group — Shares of the fast-casual restaurant chain popped more than 21% on stronger-than-expected quarterly results . Cava posted earnings of 17 cents per share on $233 million in revenue in the fiscal second quarter. That topped LSEG estimates calling for earnings per share of 13 cents and revenue of $220 million. Ross Stores — The off-price retailer's stock price added 1.4% after the company beat earnings estimates by 9 cents a share in the second quarter. Ross matched revenue estimates of $5.25 billion, per LSEG.

Persons: Cava, Warby Parker, Nicholas Jones, Goldman Sachs, Bill.com, Ross, Tesla, Jerome Powell's, Piper Sandler, — CNBC's Hakyung Kim, Jesse Pound, Brian Evans, Samantha Subin, Lisa Kailai Han, Michelle Fox Organizations: Intuit —, Intuit, FactSet, JMP Securities, Warby's, UBS, Ross Stores, LSEG, Nvidia, Federal, Investors, VanEck Semiconductor Locations: Cava, Vegas, Macau

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