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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBanks will continue to outperform if the Fed starts to cut and there's a soft landing: RBC's CassidyGerard Cassidy, RBC Capital Markets co-head of global financials research, joins 'Squawk on the Street' to discuss the latest market trends, state of the banking sector, impact of the Fed's rate outlook and 2024 election on banks, and more.
Persons: RBC's Cassidy Gerard Cassidy Organizations: RBC Capital Markets
JPMorgan downgrades Peloton to neutral from overweight "Following Thursday's +35% appreciation (vs. SPX -1%) we are moving from Overweight to Neutral rated as PTON's return to growth in CF Subs & Revenue remains challenging, & visibility is limited given secular & macro pressures." Wells Fargo reiterates Burlington Stores as top pick "We reiterate BURL as our "Top Pick" and see a highly visible growth/margin bull case unfolding in real time. The combination of 1) comp acceleration and 2) margin unlocks should be powerful, and we raise 2Q/FY numbers above Street. Wells Fargo upgrades BJ's Wholesale Club to overweight from equal weight "Margin investment is the right strategic shift despite n/t pain, and supplements robust member gains. Valuation is tricky, but comp ramp/return to algo in '25 point to upside."
Persons: Piper Sandler, Warby Parker, Uber, Nomura, Wells, BURL, Goldman Sachs, Bill.com, Guggenheim Organizations: Nvidia, RBC, Westlake, JPMorgan, CF Subs, Revenue, Bank of America, Waymo, Tesla, Burlington Stores, Wholesale
Strategist discusses China loan growth, property sector outlook
  + stars: | 2024-08-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStrategist explains why loan growth will be slow without China's property sector stabilizingJasmine Duan, senior investment strategist at RBC Wealth Management Asia says that without the Chinese property sector "finding a bottom" and gradually stabilizing, loan growth will not pick up significantly.
Persons: Jasmine Duan Organizations: RBC Wealth Management Asia
Stifel upgrades Starbucks to buy from hold Stifel upgraded the coffee chain following the management shakeup that included a new CEO. Jefferies upgrades Sportradar to buy from hold Jefferies upgraded the Swiss global sports tech company, saying it's becoming "increasingly attractive." Morgan Stanley reiterates Target as overweight Morgan Stanley said it's sticking with its overweight rating heading into Target 's earnings next week. Berenberg reiterates Eli Lilly as buy Berenberg raised its price target on the drugmaker to $1,050 per share from $1,000. TD Cowen upgrades Ilumina to buy from hold TD Cowen sees revenue growth ahead for the biotech company.
Persons: Wolfe, PulteGroup, rais, Brian Niccol, Baird, Tesla, it's bullish, Goldman Sachs, Goldman, Elliott, Wells, Equitrans, ETRN, Jefferies, it's, SRAD, Bernstein, Chipotle, Morgan Stanley, Berenberg, Eli Lilly, Lilly, circumspection, Ross, BURL, ROST, Oppenheimer, TD Cowen, mgmt Organizations: Stifel, RBC, Johnson, underperform RBC, Elliott Management, Barclays, Nvidia, JPMorgan downgrades Emerson, JPMorgan, Deutsche Bank, Deutsche, Ball Corp, Ball Corporation, Montrose Environmental, Stock, Intuit, Citi, Palo Alto, Bank of America, TJX Companies, Argus Locations: Florida, Underperform, Swiss, Montrose, QuickBooks, Burlington, Coinbase, China, Hershey
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOur year-end S&P 500 target remains 5,700, says RBC's Lori CalvasinaLori Calvasina, RBC Capital Markets head of U.S. equity strategy, joins 'Squawk Box' to discuss the latest market trends, what to make of the recent market sell-off, why she believes the sell-off didn't solve the market's major problems, and more.
Persons: RBC's Lori Calvasina Lori Calvasina Organizations: RBC Capital Markets
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThese situations will not settle themselves, says Atlantic Council's Fred Krempe on geopoliticsCNBC contributors Fred Krempe, Atlantic Council president and CEO, and Helima Croft, RBC Capital Markets head of global commodity strategy, join 'The Exchange' to discuss geopolitics, war conflicts on commodities, elections and more.
Persons: Fred Krempe, Helima Croft Organizations: CNBC, Atlantic, RBC Capital Markets
BTIG's chief market technician warned Sunday that, while the pullback seen early last week generated some "tactical buy signals," he thinks the "bulk of the bounce has likely run its course and [we] would use strength … to lighten exposure." However, the broad market index clawed back most of that decline by Friday, posting a weekly loss of just 0.04%. .SPX 1M mountain SPX 1-month chart "A final durable low is likely still ahead of us," Krinksy said. The big event this week will be the release of the consumer price index reading for July, due Wednesday. "We see LLY stock outperforming for its high growth outlook and low beta," the Deutsche analyst added, while calling the drugmaker a "low beta/high growth unicorn."
Persons: Jonathan Krinsky doesn't, Krinsky, Krinksy, Eric Johnston, Cantor Fitzgerald, Lori Calvasina, Scott Rubner, Goldman Sachs, Eli Lilly Organizations: JPMorgan, RBC Capital Markets, Deutsche Bank, Deutsche
Here are Monday's biggest calls on Wall Street: UBS reiterates Nvidia as buy UBS said it's sticking with Nvidia shares heading into earnings later this month. Wolfe downgrades Qualcomm to peer perform from outperform Wolfe said Apple's internal modem use is finally having an effect on Qualcomm. Jefferies upgrades Par Technology to buy from hold Jefferies said it's bullish on shares of the "pure-play" restaurant tech platform. " Deutsche Bank upgrades Eli Lilly to buy from hold Deutsche upgraded the stock following earnings last week. Bank of America upgrades Churchill Downs to buy from neutral Bank of America said it likes the racing company's growth pipeline.
Persons: Morgan Stanley, Disney, it's, Wolfe, Qualcomm, Wedbush, it's bullish, Jefferies, Walmart Evercore, Piper Sandler, Piper, HOOD, Goldman Sachs, Mills, Goldman, Canaccord, Mizuho, Cummins, Wells, PRU, Eli Lilly, Churchill, Jim Anderson Organizations: UBS, Nvidia, RBC, Ardent Health, Ardent Health Partners, Inc, Qualcomm, Jefferies, Technology, Walmart, HSBC, GE Vernova, GE, Micron, MU, Elliott, Bank of America, Liberty Global, underperform Bank of America, Liberty, Prudential, Allstate, Deutsche Bank, Deutsche, of America, " Bank of America Locations: Asia, Cupertino, Wells, Churchill
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis week's U.S. data, retail earnings will be a key watch for markets, says strategistZoe Gillespie, divisional director in investment management at RBC Brewin Dolphin, discusses the market outlook.
Persons: Zoe Gillespie Organizations: RBC
With this in mind, CNBC Pro screened for the most overbought and oversold stocks on the Street, as measured by their 14-day relative strength index, or RSI. Alternatively, stocks are viewed as oversold with an RSI below 30, which suggests a possible buying opportunity. While shares are slightly positive on the week, up nearly 1%, the stock has tumbled 10% in 2024. TTWO YTD mountain Take-Two Interactive Software, year-to-date Other stocks that made the oversold group are artificial intelligence infrastructure play Super Micro Computer and Ulta Beauty . The stock closed out the week nearly 25% higher and is up more than 41% this year.
Persons: Stocks, Hugh Johnston, Mars, Lockheed Martin, Northrop Grumman Organizations: Federal Reserve, Nasdaq, Dow Jones Industrial, CNBC Pro, Disney, Software, Lockheed, RBC Locations: U.S
DuPont's water business DuPont is considered a leader in purification and specialty-separation technologies that generates cleaner water for industries, governments, and communities. Arun Viswanathan, analyst at RBC Capital Markets, characterizes Dupont's water business' next-generation products as being "at the top of the technology pyramid." Dupont's water business is the smallest of the three companies that will be created by the breakup. As this exercise shows, DuPont's water business as a standalone firm would certainly deserve that compared to some. Potential M & A It's possible DuPont's water business never makes it to standalone status.
Persons: we've, Jim Cramer, It's, Lori Koch, it's, Aleksey Yefremov, Arun Viswanathan, Viswanathan, Dupont, RBC's Viswanathan, DuPont, KeyBank's Yefremov, EBITDA, Pentair, Veralto, Yefremov, They'll, they'll, , Koch, Ed Breen, Jim Cramer's, Jim, Jeff Fusco Organizations: DuPont, CNBC, JPMorgan, Bank, Barclays, RBC Capital Markets Locations: China, North America, Asia, East, Africa, America, Yefremov, Wilmington , Delaware
Media and chemicals stocks both slipped 0.6%, while travel stocks gained 1.28%. On Wall Street, stocks gained after U.S. weekly initial jobless claims figures came in lower than expected, alleviating some concerns about the state of the labor market. Last Friday's U.S. jobs report had shown slowing employment growth, sparking recession fears and subsequent market volatility. There was an element of market overreaction to that initial jobs report, Janet Mui, head of market analysis at RBC Brewin Dolphin, told CNBC's "Squawk Box Europe" on Thursday morning. "The jobs data is actually not that bad, employment is still growing and particularly importantly, real wage growth is still positive.
Persons: Janet Mui, CNBC's, Mui Organizations: Anadolu, Getty, Media, Global, U.S, RBC Locations: Amsterdam , Netherlands, U.S
Yen dives as BOJ plays down chance of hikes, soothing markets
  + stars: | 2024-08-07 | by ( ) www.cnbc.com   time to read: +2 min
A Japanese 10,000 yen and a U.S. 100 dollar banknote juxtaposed against each other in Tokyo, Japan, on Monday, June 20, 2016. The yen dropped on Wednesday after an influential Bank of Japan official played down the chances of a near-term rate hike, soothing investors' concerns that a further jump in the Japanese currency could again rock global markets. The yen fell around 2.5% to a session low of 147.94 per dollar following the comments from BOJ Deputy Governor Shinichi Uchida. "I think it's become increasingly clear that the BOJ hawkish turn last week could be a policy error," said Alvin Tan, head of Asia FX strategy at RBC Capital Markets. The yen's decline was broad based, with the Mexican peso, New Zealand dollar and Australian dollar - all carry trade candidates - surging against the currency.
Persons: Shinichi Uchida, Uchida, Kazuo Ueda's hawkish, it's, Alvin Tan, inching, Rong Ren Goh Organizations: Bank of Japan, Asia FX, RBC Capital Markets, U.S, Eastspring Investments, New Zealand Locations: U.S, Tokyo, Japan, Asia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDon't see OPEC increasing output into this market, says RBC's Helima CroftHelima Croft, RBC Capital Markets global head of commodity strategy, joins 'Squawk Box' to discuss the state of the energy markets, oil production outlook, impact of Middle East tensions, and more.
Persons: RBC's Helima Croft Helima Croft Organizations: RBC Capital Markets
Morgan Stanley reiterates Disney as overweight Morgan Stanley lowered its price target on the stock to $110 per share from $130 but said it is sticking with Disney shares. Morgan Stanley upgrades Prosperity Bancshares to overweight from equal weight Morgan Stanley said the regional bank has "best in class capital and growing liquidity." Morgan Stanley initiates MKS Instruments as overweight Morgan Stanley said the controlling and measuring device manufacturing company is well positioned. Morgan Stanley reiterates Apple as overweight Morgan Stanley said it is sticking with the stock following its quarterly 10-Q report. " Morgan Stanley reiterates Walmart as overweight Morgan Stanley said it is sticking with its overweight rating on the stock following Walmart+ membership hitting a record high according to its survey checks.
Persons: Mizuho, Morgan Stanley, Disney, Lockheed Martin, Berkshire Hathaway, HOOD, Apple, Jefferies, Mars, Bernstein Organizations: Bank of America, Nvidia, Disney, Gulfport Energy, RBC, Lockheed, UBS, Berkshire, Berkshire Hathaway, Citi, RBC downgrades Moderna, Moderna, Walmart, underperform Bank of America, Netflix, Reuters, Kellanova, Boeing Locations: China, Gulfport, Berkshire, Underperform
U.S. crude oil futures broke above $78 per barrel Thursday on fears that Israel and Iran are heading to a direct conflict after the assassination of a Hamas leader in Tehran. Iran Supreme Ayatollah Ali Khamenei has ordered a direct strike on Israel in response to the assassination of Hamas political leader Ismail Haniyeh, three Iranian officials told the New York Times. Khamenei ordered the direct strike at an emergency meeting of Iran's national security council Wednesday morning after Haniyeh was killed, the officials told The Times. Iran and Israel traded direct strikes in April, pushing oil prices to the highest point of the year, but they enemies ultimately pulled back from a full-scale war. The rising tensions come as an OPEC+ committee is meeting Thursday to review members' production quotas.
Persons: Ali Khamenei, Ismail Haniyeh, Haniyeh, Khamenei, Yemen's, Helima Croft, Croft Organizations: New York Times . West Texas, Times, Reuters, RBC Capital Markets Locations: Israel, Iran, Tehran, Iraq, Gaza
"Each of these strengths contributed to a good revenue performance in the first half of 2024, supported by higher interest rates." Hong Kong-listed shares of HSBC were up 2.84% at 07:56 a.m. London time in the wake of the earnings beat. The first-half figure nevertheless came in well above the $20.5 billion average of broker estimates compiled by HSBC, according to Reuters. "The strong performance of the business gives us the confidence to say that we'll be mid-teens return in 2025 as well," Quinn told CNBC. "This headwind will be partially offset by hedging and balance sheet growth, but this growth is unlikely to be remarkable.
Persons: Noel Quinn, HSBC's Quinn, , Quinn, there's, Jefferies, Benjamin Toms, Toms, CNBC's Ganesh Rao Organizations: HSBC, Securities Financing, Global Banking, London and New York Stock Exchanges, Reuters, Wednesday, CNBC, Capital Locations: Hong Kong, London, Britain
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRBC Capital's Lori Calvisina: earnings season is showing 'tired goldilocks' effectLori Calvasina, RBC Capital Markets head of U.S. equity strategy, joins 'Squawk on the Street' to discuss the Fed meeting, her projection on rate cuts, and its impact on consumers.
Persons: Lori Calvisina, Lori Calvasina Organizations: RBC, RBC Capital Markets
Here are Tuesday's biggest calls on Wall Street: Loop initiates BrightView as buy Loop said it's bullish on shares of the commercial landscaping company. Evercore ISI reiterates Apple as outperform Evercore said it's bullish ahead of Apple earnings later this week. " Bank of America reiterates Roblox as buy Bank of America said it's standing by Roblox ahead of earnings on August 1. Deutsche Bank reiterates McDonald's as buy Deutsche said it's standing by the fast food giant following earnings. Bank of America reiterates Goldman Sachs as buy Bank of America said top pick Goldman Sachs has "cyclical/secular tailwinds."
Persons: Evercore, it's, Jensen Huang, Nvidia's Blackwell, Blackwell, KBW, Oppenheimer, Wells, Roblox, Tesla, McDonald's, Baird, Edward Jones, Goldman Sachs, ROE resiliency, Morgan Stanley, Wells Fargo Organizations: Apple, Citi, Nvidia, " Bank of America, of America, Barclays, UBS, Amazon, Netflix, Bank of America, JPMorgan, RBC, Tesla, Deutsche Bank, Deutsche, Whirlpool, underperform Bank of America, Abbott Laboratories, Abbott Labs, Edward, Stock, 2Q, PNC, WF
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCroft: Many market participants don't believe energy supply is at risk from Middle East conflictHelima Croft, Global Head of Commodity Strategy at RBC Capital Markets, discusses oil prices following new developments in the Middle East conflict.
Persons: Helima Croft Organizations: Global, RBC Capital Markets
Here are Monday's biggest calls on Wall Street: Morgan Stanley reiterates Live Nation as overweight Morgan Stanley said shares of the entertainment concert company are compelling. " Cantor Fitzgerald reiterates Nvidia as overweight Cantor said the stock is still a top pick at the firm. Guggenheim upgrades Akamai to buy from neutral Guggenheim said shares of the cloud computing networking company have more room to run. Bank of America reiterates Apple as buy Bank of America said it's bullish heading into Apple earnings later this week. JPMorgan reiterates Eli Lilly as overweight JPM said the stock is a "core holding" ahead of earnings on August 8.
Persons: Morgan Stanley, Cantor Fitzgerald, Cantor, TD Cowen, AAPL, Wells, Booz Allen Hamilton, it's, Guggenheim, Piper Sandler, Charles Schwab, Piper, Schwab, Olin, Mizuho, Bill Brown's, Myers Squibb, JPMorgan, Eli Lilly, JPM, Evercore, Tesla, Oppenheimer, Raymond James, Davidson, Raymond James downgrades Organizations: NVDA, MU, Apple, Huawei, Booz, Guggenheim, RBC, Deutsche Bank, Northrop, Deutsche, JPMorgan, Uber, Holdings, 3M, " Bank of America, Bank of America, Edge, Barclays downgrades Bristol, Myers Squibb, Barclays, Bristol, Ford, Microsoft, Charter, HSBC Locations: China, underperform
Investors seeking solid dividend payers can rely on top-ranked Wall Street analysts, who make recommendations after thoroughly analyzing a company's ability to generate solid financials and deliver strong returns. Here are three attractive dividend stocks, according to Wall Street's top pros on TipRanks, a platform that ranks analysts based on their past performance. WES offers a high dividend yield of 8.8%. Hanold expects Q2 2024 shareholder returns to comprise a fixed dividend of 90 cents a share and a variable dividend of $1.25 per share, with no stock buybacks. KO offers a dividend yield of about 2.9%.
Persons: Wall, WES, Gabriel Moreen, Moreen, TipRanks, FANG, Scott Hanold, KO, Nik Modi, Modi Organizations: Wall Street, Western, Western Midstream Partners, Mizuho, MLP, Diamondback Energy, Endeavor Energy, RBC Capital, Diamondback, Cola Locations: Texas , New Mexico , Colorado , Utah, Wyoming, West Texas, Philippines, India
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's what a Harris presidency could mean for energy markets and oil pricesHelima Croft, Global Head of Commodity Strategy at RBC Capital Markets, discusses what a Kamala Harris presidency would mean for the energy markets.
Persons: Harris, Croft, Kamala Harris Organizations: Global, RBC Capital Markets
Not seeing capital return from Ford, says RBC's Tom Narayan
  + stars: | 2024-07-25 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNot seeing capital return from Ford, says RBC's Tom NarayanTom Narayan, RBC Capital global autos analyst, joins 'Squawk on the Street' to discuss Ford earnings, Tesla's EV business, and more.
Persons: Tom Narayan Tom Narayan Organizations: Ford, RBC Capital, EV
Nasdaq futures fell after Alphabet and Tesla reported earnings. Tesla auto revenue dropsTesla's second-quarter earnings fell short of expectations as automotive sales declined for the second consecutive quarter. YouTube's ad revenue fell short of estimates amid increased competition from platforms like TikTok. GM skidsGeneral Motors' beat second-quarter earnings estimates but shares fell 6% as it restructures its struggling autonomous vehicles and Chinese business. RBC Capital Markets' Tom Narayan highlighted GM's expectation that second-half earnings will be $2.5 billion lower than in the first half.
Persons: Tesla, Ruth Porat, Morgan Stanley's Adam Jonas, Tom Narayan Organizations: New York Stock Exchange, CNBC, Nasdaq, Dow Jones, Treasury, Tesla, GM, General, RBC Capital Markets, United Parcel Service, UPS, Barclays, CNBC Pro Locations: New York City, U.S, Waymo
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