DIRS.INFO The most relevant business & tech news

☆ Here are Friday's biggest analyst calls: Apple, Tesla, SVB Financial, United, Roblox, JPMorgan Chase, Meta & more
▼ + stars: | 2023-03-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

LightShed downgrades Apple to sell from neutral LightShed said in its downgrade of Apple that it sees moderating growth. Baird reiterates Tesla as a top pick Baird said it sees Tesla launching heat pump technology for homes. " Baird upgrades KeyCorp to outperform from neutral Baird said it sees an attractive risk/reward for the regional bank. Baird downgrades Allbirds to neutral from outperform Baird downgraded the footwear company after its disappointing earnings report. " Oppenheimer reiterates Pool Corp as outperform Oppenheimer said it sees a compelling entry point for shares of the pool company.

☆ Morning Bid: Breathtaking Powell jolts
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +5 min

Rate markets are still scrambling to re-set and even the White House seemed taken aback by what it hoped would not be an overreaction to the surprisingly robust start to the new year. "But we're dealing with one month of data and people need to sit back and take a breath." The frenetic activity saw the measure of implied Treasury market volatility (.MOVE) jump to its highest level this year. Sterling , the Japanese yen , China's yuan and both the Australian and Canadian dollars all hit their lowest levels of 2023. * Bank of Canada policy decision* U.S. Federal Reserve Chair Jerome Powell testifies to House Financial Services Committee.

☆ Analysis: Investors revive inflation trades as 6% Fed rate risk grips Wall Street
▼ + stars: | 2023-03-07 | by ( Davide Barbuscia | ) www.reuters.com time to read: +5 min

NEW YORK, March 7 (Reuters) - Spooked by a flurry of hotter-than-expected U.S. economic and inflation data last month, investors are reviving trading strategies that bet on a higher peak in interest rates. The recalibration in inflation expectations has led some investors to bet on a policy rate of 6% or even higher. Trading platform Tradeweb said it saw average daily volume in inflation swaps - derivatives used to hedge inflation risk - increase by 23% month-on-month in February. With higher inflation expectations lifting short-term bond yields higher than those at the longer end, some investors are wary of committing to debt maturities at the long end of the bond market yield curve. "The momentum in the economy is so strong that we may have to get into 2024 before the Fed funds rate peaks."

☆ Goldman Sachs upgrades this ‘internet of things’ stock — which it sees surging 60%
▼ + stars: | 2023-03-03 | by ( Fred Imbert | ) www.cnbc.com time to read: +1 min

Investors looking for exposure to the "internet of things" — the concept of linking physical objects to the internet and cloud — should consider buying shares of Samsara. Analyst Kash Rangan upgraded Samsara , which provides tracking systems for vehicle fleets and agricultural equipment, to buy from neutral. He also hiked his price target on the stock to $27 from $16, implying upside of 60% from Thursday's close. Rangan pointed out this marks the fourth consecutive quarter in which Samsara's revenue outperforms expectations. Samsara CFO Dominic Phillips said during a call with analysts that the company expects to reach breakeven free cash flow in the fourth quarter.

☆ China's Bilibili is a 'long way' from breakeven, says asset management firm
▼ + stars: | 2023-03-03 | 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 EmailChina's Bilibili is a 'long way' from breakeven, says asset management firmShawn Yang of Blue Lotus Capital Advisors says that's because of the video-sharing website's strategy.

☆ Stocks making the biggest moves midday: Apple, Meta, Costco, Marvell, C3.ai and more
▼ + stars: | 2023-03-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

Costco Wholesale — The retailer's shares dropped 3.4% after the company's fiscal second-quarter earnings missed analysts' expectations. Marvell Technology — The chip stock lost 7.3% after Marvell Technology reported mixed quarterly results and provided weak guidance. The move comes after Bumble announced it would price a secondary offering of 13.75 million shares of its common stock at $22.80 per share. The company earned an adjusted 37 cents per share, above the 29 cents expected by analysts, according to Refinitiv. The company posted a loss of 6 cents per share, compared to Refinitiv analysts' estimates for a 22 cent loss.

☆ Polestar cuts annual losses in half as it ramps up EV production
▼ + stars: | 2023-03-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Swedish electric vehicle maker Polestar cut its annual net losses in half last year, while revenue surged and it attempted to set itself apart from other EV startups. The company on Thursday reported an 84% increase in revenue for 2022 to roughly $2.5 billion as it exceeded a 50,000-vehicle delivery target. The majority of that increase will come from an updated Polestar 2 EV, according to Ingenlath. The company is releasing two new EVs this year – Polestar 3 and Polestar 4 – that are expected to hit their production strides in 2024. Polestar's relatively positive results come after other EV startups like Lucid , Nikola and Rivian reported ongoing problems with supply chains and production, causing them to miss production or sales targets.

☆ Morning Bid: Ten-four, Treasury yields soar
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +4 min

The remarkable sight of 10-year Treasury yields back above 4% for the first time in almost four months is only matched by two-year yields at 15-year highs stalking 5%. Weekly jobless claims on Thursday and the latest Fed speakers take on unusual importance in such a febrile rates market. And 6% Fed rates that seemed fanciful only a month ago are now being openly discussed by banks. Despite year-on-year oil prices now tracking declines of 25%, European inflation fears are a key feature of this week's nervousness. Benchmark German 10-year bond yields soared to 11-year highs at 2.77%.

☆ Euro zone factory output returned to growth in February -PMI
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

S&P Global's final manufacturing Purchasing Managers' Index (PMI) dipped to 48.5 in February from January's 48.8, in line with a preliminary reading but still below the 50 mark separating growth from contraction. That healing of supply chain strains led to another sharp diminishing of the cost burden faced by factories. The input prices index slumped to 50.9 from 56.3 in January, its lowest reading since September 2020. However, the output prices index remained high. "Although factory selling prices continued to rise sharply, albeit with the rate of increase easing to a two-year low, this in part reflects the usual lagged effect of changes in costs feeding through to output prices," Williamson said.

☆ Here are Wednesday's biggest analyst calls: Apple, Procter & Gamble, Tesla, Spotify, AbbVie & more
▼ + stars: | 2023-03-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Morgan Stanley upgrades Sarepta to overweight from equal weight Morgan Stanley said it's bullish on the company's gene therapy drug, SRP-9001. Morgan Stanley reiterates Rivian as overweight Morgan Stanley said it's standing by its overweight rating on the EV maker after its earnings report on Tuesday, but says it's now a show-me story. Morgan Stanley reiterates Eli Lilly as top pick Morgan Stanley said the stock is best-in-class and that it's bullish on its diabetes drug, Mounjaro. Morgan Stanley names JD.com a catalyst driven idea Morgan Stanley said it's bullish heading into the China e-commerce company's earnings on March 9. Morgan Stanley reiterates Microsoft as overweight Morgan Stanley said it's standing by shares of Microsoft.

Organizations: ~$

☆ Analysis: Goldman Sachs faces hard sell for its consumer assets
▼ + stars: | 2023-03-01 | by ( Saeed Azhar | ) www.reuters.com time to read: +5 min

NEW YORK, March 1 (Reuters) - Goldman Sachs Group Inc (GS.N) is embarking on a tough sales pitch to investors for assets in its troubled consumer business, which has dragged on earnings and may lack appeal for potential buyers. In an unexpected move, Chief Executive Officer David Solomon said on Tuesday the bank is looking at 'strategic alternatives' for the consumer business, a signal of a possible sale. Solomon had championed Goldman's foray into consumer banking since taking the reins at the Wall Street powerhouse in 2018. The consumer operations largely failed to gain traction against well-established consumer banks and lost billions of dollars due to credit provisioning. Mike Mayo, an analyst at Wells Fargo, wrote in a note that the key question about Goldman's consumer business is: "who would be willing to buy it, and at what price?"

☆ Goldman CEO says asset management is the new growth engine, will learn from bungled consumer effort
▼ + stars: | 2023-02-28 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Goldman Sachs CEO David Solomon said Tuesday that asset management and wealth management would be the growth engine for the bank after his efforts in consumer finance went awry. "The real story of opportunity for growth for us in the coming years is around asset management and wealth management," Solomon told CNBC's Andrew Ross Sorkin. Solomon added that Goldman was already the fifth biggest active asset manager in the world. "There's real opportunity across the firm for us to continue to make the firm more durable," Solomon said. He also acknowledged that the company didn't "execute well" on parts of his consumer push, but added that management would reflect and learn from the episode.

☆ Morning Bid: Irksome inflation won't die down
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +4 min

Friday's latest U.S. inflation surprise was matched in Europe on Tuesday, with French and Spanish headline inflation rates unexpectedly rising again in February - making for an uncomfortable final day of a transformative month for markets. And worryingly, market-based measures of inflation expectations are rising sharply again too. U.S. two-year 'breakeven' inflation rates , taken from inflation-protected Treasury securities, have jumped 80 basis points this month to 2.8% - wiping away the prior assumption that inflation would return to the Fed's 2% target over two years. In Europe, the five year, five-year forward inflation linked swap has jumped 20bps to a 9-month high just under 2.5%. Stock markets steadied after early losses, with U.S. futures only slightly in the red ahead of the open and month end.

☆ Evercore ISI downgrades FuboTV as subscriber growth slows, competitive pressures linger
▼ + stars: | 2023-02-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Mounting competitive pressures and a difficult economic outlook should pressure shares of FuboTV in the near term, according to Evercore ISI. Analyst Shweta Khajuria downgraded the sport-focused TV streaming company to in line from outperform, saying that its 2025 outlook for advertising average revenue per user and subscriptions appears "modestly aggressive" given the recent deceleration in subscriber growth. The guidance implies just 23% year-over-year revenue growth and 3% subscriber growth this year at the midpoint. That's down from 42% year-over-year subscriber growth in 2022 and 140% growth in 2021. FUBO YTD mountain FuboTV shares so far this year — CNBC's Michael Bloom contributed reporting

☆ Singapore ride-hailing firm Grab beats on revenue, pulls forward profitability timeline
▼ + stars: | 2023-02-23 | by ( Sheila Chiang | ) www.cnbc.com time to read: +5 min

Revenue for the fourth quarter of 2022 grew 310% to $502 million, up from $122 million a year ago. We should be getting back to pre-Covid levels by fourth quarter this year. The company said that it is bringing forward its group adjusted EBITDA breakeven guidance to the fourth quarter of 2023, half a year earlier than its previous guidance. Deliveries reboundDeliveries revenue increased to $268 million in fourth quarter 2022, up from $1 million in the same period in 2021. Incentives dropped to 8.2% of gross merchandise volume in the fourth quarter from 9.4% in the previous quarter.

Asian stocks are on course for their fourth down week in a row, the MSCI World index and the S&P 500 are eyeing their biggest weekly fall this year, and U.S. breakeven inflation rates are sailing up to 2.50% and beyond. A lower oil price, of course, is disinflationary, and base effects right now also mean that Brent crude is 17% cheaper today than it was a year ago. chartMinutes from the Fed's Jan. 31 to Feb. 1 policy meeting showed that most rate-setters voted to slow the pace of tightening. The Bank of Korea is expected to leave interest rates on hold at 3.50% on Thursday, and leave it there for the rest of the year, according to a Reuters poll. Consumer price inflation in January was 5.20%, well over double the central bank's 2.00% target and unlikely to return there for at least another year, economists reckon.

☆ Coterra, Pioneer report strong fourth quarters — but the verdict is out on how investors will respond to higher spending this year
▼ + stars: | 2023-02-22 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

That move prompted us to reduce our exposure to any potential post-earnings downside by trimming Coterra and Pioneer late last week. Fourth-quarter production Coterra Energy's oil-and-gas production came in above the high end of the company's guidance and edged out analysts' estimates, too. Notably, Pioneer doesn't hedge its oil production, making its realized pricing closer to that of the underlying commodity. 2023 outlook Guidance provided by Coterra and Pioneer echoed that of Devon: Softer production but higher capital expenditures in 2023. But it beat on expectations for oil production, which should please investors given the high margins of crude production.

☆ There's 'nothing thesis-changing' about Coinbase despite fourth-quarter beat, some Wall Street firms say
▼ + stars: | 2023-02-22 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

The outlook for Coinbase changed little even after it beat analyst expectations in the latest quarter, some Wall Street firms say. Coinbase reported a loss of $2.46 per share on revenue of $629 million. Meanwhile, the firm's user base fell to 8.3 million monthly transacting users (MTUs) in the fourth quarter, down from 8.5 million in the previous quarter and the 8.22 million Street estimate compiled by StreetAccount. Bank of America's Jason Kupferberg was underwhelmed by the results, saying that there was "nothing thesis-changing in the print" despite the solid results. EBITDA beat was helped by lower opex.

☆ Lawsuits accuse Elon Musk's Twitter of owing more than $14 million in unpaid bills, report says
▼ + stars: | 2023-02-20 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Several lawsuits concerning unpaid debts have been filed against Elon Musk's Twitter, per the WSJ. Twitter is accused of owing more than $14 million, plus interest, the publication reported. Twitter has faced numerous lawsuits from vendors, landlords, and consultants since Elon Musk bought the platform in October. Since completing his $44 billion acquisition of Twitter in October, Musk has been seeking to cut costs across the board. Musk had previously said Twitter was losing more than $4 million a day.

☆ Morning Bid: Elusive peaks
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: +4 min

Unlike much of last year, the rates market is now inclined to believe the central bank on the direction of travel. And implied year-end rates are as high as 5.12% - almost half a point higher than where the current rate sits. Two-year Treasury yields hit a three-month high at 4.72% on Friday, with 10-year yields at 3-month peaks too - homing in on 4% for the first time since November. So as impressive as this week's stock market resilience had been to the new inflation and rates environment, it appears to be buckling again already. Key developments that may provide direction to U.S. markets later on Friday:* U.S. Jan import and export prices, leading indicator.

☆ Here are Thursday's biggest analyst calls: Apple, Tesla, Generac, Coinbase, Meta, Roku, Roblox & more
▼ + stars: | 2023-02-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Thursday's biggest calls on Wall Street: Bernstein reiterates Tesla as underperform Bernstein said Tesla sharers remain overvalued. Loop reiterates Apple as buy Loop said it sees attractive iPhone revenue upside for Apple. Canaccord upgrades Generac to buy from hold Canaccord said it sees "storm clouds breaking" for shares of Generac. JPMorgan reiterates Roku as overweight JPMorgan said it's standing by shares of Roku after the company's earnings results on Wednesday. " Bernstein reiterates Meta as outperform Bernstein kept its outperform rating on the social media giant and says it likes the company's "clear cost takeout plan."

☆ WeWork turns core profit in Dec for the first time since listing
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

Feb 16 (Reuters) - WeWork Inc (WE.N) on Thursday said it turned a core profit in December for the first time since it went public, helped by cost cuts. The office-sharing firm, which went public in 2021, said for the "first time in WeWork’s history", the company achieved an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) profitability for December 2022. The New York-based company also announced its exit from 40 U.S. locations. WeWork said it expects current-quarter revenue to be between $830 million and $855 million and adjusted EBITDA to be in the range of a $25 million loss to breakeven. Its adjusted EBITDA for the fourth quarter was negative $26 million, compared to negative $283 million a year ago.

☆ Home builder sentiment sees biggest monthly jump since 2013
▼ + stars: | 2023-02-15 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Home builder confidence jumped this month by the largest amount in almost 10 years, as falling mortgage rates pulled in more buyers. All three metrics rose in February for the second straight month, showing the strongest reading since September and the largest monthly increase for builder sentiment since June 2013. “Even as the Federal Reserve continues to tighten monetary policy conditions, forecasts indicate that the housing market has passed peak mortgage rates for this cycle,” he said. But mortgage rates that are lower now than they were last fall are improving affordability for buyers. The average mortgage rate for a 30-year, fixed-rate mortgage rate peaked last year at 7.08% in November, according to Freddie Mac.

☆ Devon Energy's plunge after management fails to reassure investors makes us question our stake
▼ + stars: | 2023-02-15 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Shares of Club holding Devon Energy (DVN) fell sharply Wednesday, one day after delivering disappointing fourth quarter results , reducing its fixed-plus-variable dividend and barely buying back any stock. DVN 1Y mountain Devon Energy (DVN) 1-year performance Devon management on Wednseday did reassure investors of its commitment to financial discipline and shareholder returns. Production guidance On Devon's earnings call Wednesday morning, management said that the first quarter is expected to be the lowest production quarter of fiscal 2023. The facility is expected to be back up and running by mid-March, with no impact to second quarter production expected. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Morgan Stanley is bullish on this Chinese tech giant — giving it upside of nearly 20%
▼ + stars: | 2023-02-14 | by ( Zavier Ong | ) www.cnbc.com time to read: +2 min

Chinese tech giant Tencent is ramping up its efforts to monetize its fast-growing short video function, and Morgan Stanley is bullish on that. Other key growth drivers Morgan Stanley said it believes global gaming will be another key growth driver for Tencent, though it will be a "much longer-term growth story." Another longer-term growth driver is Tencent's software-as-a-service products, namely Tencent Meeting, Tencent Docs and Tencent Cloud. "We believe it will take 2-3 more years for Tencent to reach breakeven in cloud businesses and for them to become a long-term growth driver," the bank said. Morgan Stanley has raised its price target on Tencent to 450 Hong Kong dollars ($57.30) from 420 Hong Kong dollars — an implied upside of about 20% to the stock's closing price on Feb. 13.

Search resuls for: "breakeven"

25 mentions found