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☆ An under-the-radar AI beneficiary could rally more than 20% from here
▼ + stars: | 2023-08-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Growing demand for connectivity solutions as artificial intelligence adoption accelerates should benefit this lesser-known semiconductor name, according to Goldman Sachs. Analyst Toshiya Hari lifted his price target on Credo Technology to $18 from $16 a share, equal to 21% upside from Thursday's close. The higher price target at Goldman comes after AI chipmaker Nvidia 's second consecutive show-stopping quarterly report . Along with reiterating Goldman's buy rating, Hari lifted revenue and adjusted EBITDA estimates by 5% and 4% over the next two years, respectively. Bolton lifted his price target to $20 from $17 in a Friday note, equivalent to more than 34% upside from Thursday's close.

Persons: Goldman Sachs, Toshiya Hari, Goldman, Hari, Credo's, …, bode, Needham, Quinn Bolton, Bolton, — CNBC's Michael Bloom Organizations: Technology, AEC, Nvidia, Microsoft Locations: China

☆ It's a smart play to neutralize Amazon, says Needham's Laura Martin on reported ESPN partnership
▼ + stars: | 2023-08-25 | 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 EmailIt's a smart play to neutralize Amazon, says Needham's Laura Martin on reported ESPN partnershipHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Needham's Laura Martin, Brian Sullivan, “ Organizations: ESPN, CNBC

☆ Here are Friday's biggest analyst calls: Nvidia, Imax, Ulta, Netflix, Alphabet, Microsoft, Chewy & more
▼ + stars: | 2023-08-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Barclays upgrades Grab Holdings to overweight from equal weight Barclays upgraded the Asian ride-hailing and food delivery company after its earnings report earlier this week. " Morgan Stanley upgrades Abercrombie & Fitch to equal weight from underweight Morgan Stanley upgraded the stock after its earnings report on Thursday. Needham reiterates Nvidia as buy After a transfer in analyst coverage, Needham said it's standing by its buy rating on the stock. " Barclays reiterates Ulta as overweight Barclays said Ulta is "best-in-class" after its earnings report on Thursday. Benchmark reiterates Imax as buy Benchmark said it's standing by its buy rating on Imax despite a report of a delay in film releases.

Persons: Baird, Jefferies, Ferrari, Morgan Stanley, Fitch, Piper Sandler, Piper, Needham, it's, Goldman Sachs, Goldman, Ulta, Oppenheimer Organizations: Google, Ferrari, Barclays, JPMorgan, Abercrombie, Citi, Marvel, Western Alliance, Nvidia, NVIDIA, Netflix, Occidental Petroleum, Microsoft, TAM Locations: Southeast Asia, Hollywood, NFLX

☆ Vanuatu court rules pro-Western premier lost no-confidence vote
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +2 min

Supreme Court judge Edwin Goldsbrough ruled on Friday that an absolute majority in a parliament with 51 members is 26. If there is no appeal, or it is rejected, parliament would vote in a new prime minister. Loughman drew Vanuatu closer to China as the previous prime minister. He has criticised the security pact with Australia, saying it compromises Vanuatu's "neutral" status and could jeopardise development assistance from China. The United States and its allies are seeking to dissuade Pacific Islands nations from establishing security ties with Beijing, after China signed a security pact with the Solomon Islands.

Persons: Alatoi Ishmael Kalsakau, Eduardo Munoz, Ishmael Kalsakau, Bob Loughman, Kalsakau, Edwin Goldsbrough, Loughman, Emmanuel Macron, Macron, Kirsty Needham, Mark Heinrich Our Organizations: United Nations Headquarters, REUTERS, Rights, Vanuatu, Thomson Locations: Vanuatu, New York City, U.S, China, Australia, Western, Pacific, United States, Beijing, Solomon Islands

☆ Australia says it will conduct more joint patrols with Philippines in South China Sea
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +3 min

The joint exercises, a first for the two nations, come amid renewed tensions between the Philippines and China in the South China Sea. Marcos spoke to journalists after Friday's beach landing drill in Zambales, near the South China Sea, which he watched with binoculars, accompanied by Marles and Philippines Defense Secretary Gilbert Teodoro. At a joint news conference with Teodoro, Marles said the first joint patrols of the South China Sea by the two navies would "happen soon". The Philippines, Malaysia, Vietnam, Brunei and Taiwan have claims to certain areas of the South China Sea. Most of Australia's trade goes through the South China Sea, and upholding international rules is a shared strategic interest with the Philippines, he earlier told ABC radio.

Persons: Richard Marles, Caroline Chia, Ferdinand Marcos Jr, Marcos, Marles, Gilbert Teodoro, Teodoro, Anthony Albanese, Kirsty Needham, Karen Lema, Gerry Doyle Organizations: Australian, REUTERS, Rights, Marines, Philippine Navy, Philippines Defense, ABC, Thomson Locations: Singapore, Australia, South, Philippines, Philippine, Canberra, China, South China, Zambales, Malaysia, Vietnam, Brunei, Taiwan, Southeast Asia, Japan, U.S, Sydney, Manila

☆ Bank of America downgrades Peloton, slashes price target in half after earnings sell-off
▼ + stars: | 2023-08-24 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Expectations for underwhelming future growth have pushed Bank of America onto the sidelines with Peloton . Analyst Justin Post downgraded the workout stock to neutral from buy and cut his price target in half to $6.50. Still, Post's shaved target still implies an upside of 20.1% from where the shares finished Wednesday. Peloton beat revenue expectations in the fiscal fourth quarter when reporting Wednesday, but it also posted a bigger-than-anticipated loss . Peloton shares have tumbled nearly 23% so far this week.

Persons: Justin Post, Post, Needham, Bernie McTernan, — CNBC's Michael Bloom Organizations: of America

SYDNEY, Aug 24 (Reuters) - Australia's Trade Minister Don Farrell has dangled easier access to the country's vast critical minerals sector as part of negotiations over a free trade agreement with the European Union ahead of possible further talks as soon as next week. Farrell told Reuters in an interview on Thursday that a free trade agreement would simplify European investment in the country's burgeoning critical minerals sector, in part by smoothing access through mandatory Foreign Investment Review Board (FIRB) screening. "One of the big advantages we've got in this relationship is our access to critical minerals, rare earths, hydrogen and ammonia," Farrell said. "Other countries are looking to invest in our critical minerals and other renewables. Australia was an especially attractive place for critical minerals investment from the United States under U.S. Inflation Reduction Act rules because it was one of the few countries to have both mineral deposits and a free trade agreement with the U.S., said Farrell.

Persons: Don Farrell, Farrell, China, we've, they've, Annalena Baerbock, teleconference, Dombrovskis, Lewis Jackson, Kirsty Needham, Michael Perry Organizations: SYDNEY, Australia's Trade, European Union, Reuters, Investment, Board, Foreign, U.S, EU, Trade, Thomson Locations: Australia, Germany, China, Sydney, Europe, Japan, South Korea, Singapore, United States

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Amazon, Splunk, Peloton, Rivian, AMC & more
▼ + stars: | 2023-08-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Goldman Sachs reiterates Nvidia as buy Goldman said it's standing by it's buy rating after Nvidia's strong earnings report on Wednesday. Stifel upgrades Nvidia to buy from hold Stifel upgraded the stock after its strong earnings report Wednesday. Bank of America upgrades Williams-Sonoma to neutral from underperform Bank of America said that the downside scenario is now "off the table" for Williams-Sonoma. Bank of America downgrades Vizio to underperform from buy Bank of America double downgraded the stock on concerns about a weakening consumer. Bank of America downgrades Peloton to neutral from buy Bank of America said it sees "limited visibility on growth initiatives" for Peloton .

Persons: Needham, Rivian, it's, Oppenheimer, Goldman Sachs, Goldman, Morgan Stanley, Wedbush, Johnson, Splunk, Raymond James, Piper Sandler, Piper, Wolfe, Charles Schwab, Bernstein, Estee Lauder, Snowflake, Rosenblatt, Read Organizations: Nvidia, Center, Stifel, AMC, Bank of America, underperform Bank of America, Williams, Sonoma, Vizio, Johnson, Prudential, DFS, ADI Locations: CY2024, Williams, Sonoma, Snowflake

☆ Pacific Islands divided over Fukushima water release, says Cook Islands PM
▼ + stars: | 2023-08-23 | by ( Kirsty Needham | ) www.reuters.com time to read: +2 min

Pacific Islands Forum (PIF) chair and Prime Minister of Cook Islands, Mark Stephen Brown, speaks during the Korea-Pacific Islands Summit at the former presidential Blue House in Seoul, South Korea, Monday, May 29, 2023. Ahn Young-joon/Pool via REUTERS/File Photo Acquire Licensing RightsSYDNEY, Aug 23 (Reuters) - Cook Islands Prime Minister Mark Brown, chairman of the Pacific Islands bloc, said that science supported Japan's decision to pump treated water from the Fukushima nuclear plant into the sea, but that the region may not agree on the "complex" issue. Not all Pacific leaders had the same position and the Pacific Islands Forum may not reach a collective position, he said. The United States conducted nuclear tests in the Pacific Islands in the 1940s and 1950s, and France between 1966 and 1996. A Pacific Nuclear Free Zone was established in 1985 under a treaty that prevents the dumping of radioactive materials.

Persons: Mark Stephen Brown, Ahn Young, Mark Brown, Brown, Sitiveni Rabuka, Kirsty Needham, Gerry Doyle Organizations: Islands, Pacific Islands, presidential Blue House, Rights, Cook Islands, International Atomic Energy Agency, IAEA, Pacific, United, Fijian, Melanesian Spearhead Group, Thomson Locations: Cook Islands, Korea, Seoul, South Korea, Japan, China, Cook, United States, France, Pacific, Papua New Guinea, Fiji, Vanuatu, Solomon Islands

☆ Japan to release Fukushima water into ocean starting Aug 24
▼ + stars: | 2023-08-22 | by ( Sakura Murakami | ) www.reuters.com time to read: +4 min

An aerial view shows the storage tanks for treated water at the tsunami-crippled Fukushima Daiichi nuclear power plant in Okuma town, Fukushima prefecture, Japan August 22, 2023, in this photo taken by Kyodo. Japan has said that the water release is safe. Foreign ministry spokesman Wang Wenbin said in July that Japan had shown selfishness and arrogance, and had not fully consulted the international community about the water release. China bans seafood imports from 10 prefectures in Japan, including Fukushima and the capital, Tokyo. Japan says the water will be filtered to remove most radioactive elements except for tritium, an isotope of hydrogen that is difficult to separate from water.

Persons: Fumio Kishida, Kishida, Wang Wenbin, Sitiveni Rabuka, Sakura Murakami, Tim Kelly, Kirsty Needham, Chang, Ran Kim, Gerry Doyle Organizations: Kyodo, REUTERS Acquire, Rights Companies Tokyo Electric Power Company Holdings, Tokyo Electric Power Company, Nuclear, Authority, International Atomic Energy Agency, IAEA, Seafood, Pacific, Thomson Locations: Okuma, Fukushima prefecture, Japan, China, Beijing, Fukushima, Tokyo, South, Seoul, United States, France, Pacific, Sydney

☆ Zoom forecasts current-quarter profit above estimates on strong enterprise demand
▼ + stars: | 2023-08-21 | by ( Jaspreet Singh | ) www.reuters.com time to read: +2 min

The Zoom Video Communications logo is pictured at the NASDAQ MarketSite in New York, New York, U.S., April 18, 2019. Zoom expects third-quarter revenue between $1.115 billion and $1.120 billion for the quarter, compared with analysts' average estimate of $1.13 billion, according to Refinitiv data. Excluding items, the company posted second-quarter profit of $1.34 per share, compared with target estimate of $1.05. Second-quarter enterprise revenue of the company rose 10.2% to $659.5 million. Zoom raised its annual revenue forecast to between $4.49 billion and $4.50 billion, compared with its earlier forecast of between $4.47 billion and $4.49 billion.

Persons: Carlo Allegri, Needham, Ryan Koontz, Webex, Koontz, Kelly Steckelberg, Zoom, Jaspreet Singh, Krishna Chandra Organizations: NASDAQ, REUTERS, Communications, Wall, Revenue, Thomson Locations: New York , New York, U.S, San Jose , California, Bengaluru

☆ No clear winner in US, China contest in the Pacific
▼ + stars: | 2023-08-18 | by ( Kirsty Needham | ) www.reuters.com time to read: +5 min

The United States and PNG signed a defence cooperation agreement in May. STRATEGIC CHESSBOARDThe events in Vanuatu this week highlighted the challenges Pacific nations face in seeking to benefit from both the United States and its allies, and China. The U.S. Coast Guard has yet to gain clearance to enter Vanuatu's port, as it does in other Pacific Islands, Coast Guard officials said. Solomon Islands Prime Minister Manesseh Sogavare is also reluctant to accept U.S. support. The project was the largest infrastructure donation China had made to the Pacific Islands so far, Chinese ambassador Li Ming said at the ceremony.

Persons: Joe Biden, Louis Mapou, Hu'akavemeiliku Siaosi, Surangel Whipps, Kausea Natano, Samantha Power, Power, Washington, Lenora Qereqeretabua, Qereqeretabua, Ratu Jone Logavatu Kalouniwai, Denghua Zhang, Ishmael Kalsakau, Manesseh Sogavare, Sogavare, Li Ming, Kirsty Needham, Miral Organizations: U.S ., Country, New, Tonga's, Tuvalu's, United States, USAID, Pacific, Fiji Military Force, Australian National University, Vanuatu's, U.S . Coast Guard, Coast Guard, Solomon Islands, White, Solomon Islands National University, Reuters, Thomson Locations: U.S, Federated States, SYDNEY, China, Taiwan, Fiji, Papua New Guinea, United States, Vanuatu, Solomon Islands, Pacific, Australia, Vanuatu's, Solomon

☆ Bitcoin falls to lowest level in nearly two months after Fed minutes dial up inflation concerns
▼ + stars: | 2023-08-17 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

A representations of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken May 19, 2021. The central bank minutes from the July meeting cautioned that Fed officials see "upside risks" to inflation that could potentially lead to more rate hikes. At that meeting, Fed raised its benchmark interest rate to the highest in more than 22 years . The eventual debut of a spot bitcoin ETF, one of crypto's biggest positive catalysts, also lost some steam this week, he added. Several of the top crypto assets by market cap – including Binance's BNB coin , Ripple's XRP and the Solana and Polygon coins – were lower by more than 3% Thursday.

Persons: Fed, Bitcoin, Sylvia Jablonski, Needham's John Todaro, Ripple's XRP Organizations: Treasury, Metrics, Fed, CNBC, SEC, Solana Locations: U.S, Defiance, –

☆ Vanuatu opposition boycott parliament after failed bid to remove prime minister
▼ + stars: | 2023-08-17 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

REUTERS/Eduardo Munoz/file photo Acquire Licensing RightsSYDNEY, Aug 17 (Reuters) - Vanuatu's opposition party boycotted parliament on Thursday and said it would lodge a court challenge to the defeat the previous day of its bid to remove Prime Minister Ishmael Kalsakau. Loughman drew Vanuatu closer to China as the previous prime minister, before losing a snap election in 2022. Wednesday's no-confidence motion won 26 votes, compared with 23 votes against, but failed to win the absolute majority of 27 needed to remove a prime minister in the 52-seat parliament. Opposition lawmakers boycotted parliament on Thursday and the speaker adjourned the session, saying the chamber could not sit with only 25 members. Kalsakau told broadcaster VBTC the constitution required an absolute majority to change prime minister.

Persons: Alatoi Ishmael Kalsakau, Eduardo Munoz, Ishmael Kalsakau, Kalsakau, Bob Loughman, Loughman, Wednesday's, Kirsty Needham, Robert Birsel Organizations: United Nations Headquarters, REUTERS, Rights, Vanuatu, Thomson Locations: Vanuatu, New York City, U.S, Australia, China, Pacific, United States, Solomon Islands

☆ Australia to set up Pacific Championship in rugby league diplomacy play
▼ + stars: | 2023-08-16 | by ( Kirsty Needham | ) www.reuters.com time to read: +2 min

SYDNEY, Aug 16 (Reuters) - Australia said it would commit A$7 million for a Pacific rugby league championship, in a "football diplomacy" move seen as boosting Australia's soft power amid competition for influence with China. Women's and men's teams from seven countries will compete in the Pacific Rugby League Championships, Prime Minister Anthony Albanese said on Wednesday. About half of players in Australia's National Rugby League competition are of Pasifika heritage, said Pat Conroy, the minister for international development and the Pacific. The Australian government has funded a PNG team in the Queensland state rugby competition, and a Fijian team in the NSW state competition, he said. Albanese said that the Pacific Championship will showcase women's rugby league, and that the Matildas had shown how women's sport can inspire nations.

Persons: Anthony Albanese, " Albanese, Albanese, Pat Conroy, Conroy, Mary Fowler, Kirsty Needham, Gerry Doyle Organizations: SYDNEY, Pacific, Pacific Rugby League, Pacific Islands Forum, New, Australia's National Rugby League, rugby, Fijian, league, Thomson Locations: Australia, China, Cook Islands, Fiji, New Zealand, Papua New Guinea, Samoa, Tonga, New South Wales, Queensland, Pacific, NSW

☆ Vanuatu prime minister to face no confidence vote in parliament
▼ + stars: | 2023-08-16 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsSYDNEY, Aug 16 (Reuters) - Vanuatu Prime Minister Ishmael Kalsakau faces a no-confidence vote in parliament on Wednesday, after the opposition accused his government of abandoning a non-aligned foreign policy by signing a security pact with Australia. The petition, lodged a fortnight ago, was signed by 29 lawmakers, enough to topple the prime minister. Loughman drew Vanuatu closer to China as the previous prime minister. Kalsakau has said the constitution requires an absolute majority for the removal of a prime minister. Kalsakau has reshuffled his cabinet in an effort to win support ahead of the vote, with the new deputy prime minister making a show of support for China.

Persons: Alatoi Ishmael Kalsakau, Eduardo Munoz, Ishmael Kalsakau, Bob Loughman, Loughman, Kalsakau, Matai Seremaiah, Samson Samsen, Kirsty Needham, Miral Organizations: United Nations Headquarters, REUTERS, Rights, Vanuatu, Trade, Thomson Locations: Vanuatu, New York City, U.S, Australia, China, United States, Beijing, Solomon Islands

☆ Needham makes its top stock picks to beat the market the next 6 months
▼ + stars: | 2023-08-16 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Several companies, ranging from under-the-radar biotech names to major software providers, could still rake in major gains this year, according to analysts from Needham. Investors can look to these names for some potential returns after witnessing a series of market losses this month. Analysts at the firm forecast 17% upside to the stock based on Tuesday's closing price. The company reported a beat on second-quarter earnings in July amid negative sentiment on the sector, analyst Ryan Koontz noted. Still, the analyst expects continued upside on revenue and earnings per share, driven by a strong rural fiber access market.

Persons: Needham, Biopharmaceuticals, Ami Fadia, MongoDB, Mike Cikos, Cikos, Ryan Koontz, — CNBC's Michael Bloom Organizations: Needham, Dow Jones, Nasdaq, Management, Education Locations: 2H23

☆ Disney's future, a hot topic among Hollywood elite
▼ + stars: | 2023-08-14 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +5 min

[1/2] Executive Chairman of the Walt Disney Company, Bob Iger arrives at the world premiere for the film 'The King's Man' at Leicester Square in London, Britain December 6, 2021. REUTERS/Hannah McKay/File PhotoAug 14 (Reuters) - Hollywood's favorite parlor game of the week: What will Bob Iger do next? Another veteran media executive predicted Disney would spin off the television asset to its shareholders as a separate, publicly traded company by 2024, with private equity potentially playing a role. "You sell the parts, then sell what's left," said the veteran. Reporting by Dawn Chmielewski in Los Angeles; Editing by Kenneth Li and Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: Bob Iger, Hannah McKay, Walt Disney, Iger, Jeff Bewkes, what's, It's, Laura Martin, Dawn Chmielewski, Kenneth Li, Richard Chang Organizations: Walt Disney Company, Leicester Square, REUTERS, U.S ., Walt, CNBC, Reuters, ESPN, Disney, ABC, Disney Channel, NBA, Comcast, Hulu, Time Warner, Google, Facebook, Apple, Netflix, MGM, Needham, Thomson Locations: London, Britain, Culver City, New York City, U.S, Hulu, Hollywood, Los Angeles

☆ Vanuatu faces political instability as govt delays no-confidence vote
▼ + stars: | 2023-08-10 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

REUTERS/Eduardo Munoz/File PhotoSYDNEY, Aug 10 (Reuters) - Vanuatu Prime Minister Ishmael Kalsakau said political instability in the Pacific Islands nation could impact investment and tourism, after his government boycotted a no-confidence vote in parliament on Thursday. The reasons given for removing the prime minister had "no basis", he added. Loughman drew Vanuatu closer to China as the previous prime minister, until his government lost a snap national election in 2022. In a bid to boost government numbers, Jotham Napat stepped down as foreign minister and deputy prime minister on Monday, allowing a cabinet reshuffle that won back two lawmakers. Loughman countered that he had the numbers to form government next week, Vanuatu Daily Post reported.

Persons: Alatoi Ishmael Kalsakau, Eduardo Munoz, Ishmael Kalsakau, Bob Loughman, Kalsakau, Loughman, Jotham Napat, Kirsty Needham, Stephen Coates Organizations: United Nations Headquarters, REUTERS, Vanuatu, Vanuatu Daily Post, Thomson Locations: Vanuatu, New York City, U.S, China, Australia, Loughman, United States, Beijing, Solomon Islands

☆ Australian journalist held in China writes 'love letter' home
▼ + stars: | 2023-08-10 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

[1/3] Australian journalist Cheng Lei poses for a selfie at an unknown location in this undated handout photograph obtained by Reuters on August 11, 2023. Nicholas Coyle/Handout via REUTERSSYDNEY, Aug 11 (Reuters) - Australian journalist Cheng Lei, detained in China on national security charges, has described how standing in sunlight for just 10 hours a year feels in a "love letter" to her country. Her first public statement since her arrest came in what she called a "love letter to 25 million people" which was dictated to consular staff during a visit and released by her partner. The Australian government has repeatedly raised concerns about her detention, which came as China widened blocks on Australian exports amid a diplomatic dispute that is gradually easing. Albanese on Sunday said the barley decision was positive, but he wanted "other impediments to be removed ... included in that, the detention of the Australians, including Cheng Lei".

Persons: Cheng Lei, Nicholas Coyle, Handout, Cheng, I've, Anthony Albanese, Albanese, Nick Coyle, Lei, Coyle, Penny Wong, Ms Cheng, Wong, Kirsty Needham, John Stonestreet, Stephen Coates Organizations: Reuters, REUTERS SYDNEY, Sunday, China - Australia Business Council, Thomson Locations: Australian, China, Beijing, Canberra, Australia

☆ Disney's earnings showed incremental improvements, says Needham's Laura Martin
▼ + stars: | 2023-08-10 | 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 EmailDisney's earnings showed incremental improvements, says Needham's Laura MartinLaura Martin, Needham senior analyst, and Mark Douglas, founder and CEO of MNTN, join 'The Exchange' to discuss Disney's latest earnings results, Disney's effort to reinvigorate brand loyalty, and more.

Persons: Needham's Laura Martin Laura Martin, Needham, Mark Douglas Organizations: MNTN

☆ Here’s the trade on Rivian ahead of earnings, according to top analysts
▼ + stars: | 2023-08-08 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

After weaker-than-expected quarterly results from luxury electric vehicle maker Lucid , analysts are now turning their attention to rival Rivian . Analysts polled by FactSet are forecasting an adjusted loss of $1.43 per share on $1.1 billion in revenue. Still, analysts remain bullish on Rivian ahead of its earnings release. Meanwhile, Morgan Stanley's Adam Jonas reiterated an overweight rating on Rivian in a July 7 note, accompanied by a $24 per share price target. Elsewhere, DA Davidson's Michael Shlisky is neutral on Rivian after an upgrade from underperform July 5, with an $18 per share price target that equates to about 26% downside.

Persons: Rivian, Needham's Chris Pierce, Pierce, Morgan Stanley's Adam Jonas, Jonas, Vijay Rakesh, Rakesh, Michael Shlisky, Mercedes EQB, Shlisky, — CNBC's Michael Bloom Organizations: FactSet, Wall, EV, Mizuho Securities

A blue and white Shark Vacuum on a store display. After its listing at just over $30 a share, the stock — trading under ticker symbol SN — rocketed 40% in its first day. Shark's upright vacuums and Ninja's electric grills each account for 43% of their respective markets in the U.S., the filing showed. From 2019 to 2022, Shark's robot vacuum market share grew from 15% to 25%. JS Global separated the U.S. and China businesses, citing "geographic-specific considerations."

Persons: Mark Barrocas, SharkNinja, greenlit Amazon's, Xuning Wang Organizations: SharkNinja, New York Stock Exchange, Kong's, CNBC, U.S, Amazon, JS Global Locations: Friday's, China, North America, U.S, Boston, Needham , Massachusetts, Hong Kong

☆ Goldman Sachs says Coinbase will remain challenged until crypto can prove its utility — What Wall Street is saying after earnings
▼ + stars: | 2023-08-04 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Late Thursday, the company posted a loss of 42 cents per share on revenue of $708 million for the second quarter. Analysts surveyed by Refinitiv expected a loss of 77 cents per share on revenue of $633 million. However, trading volumes have remained low, even as the crypto market is enjoying a couple of nice rallies this year. "Until we see evidence of mass adoption of crypto for everyday utility, we believe fundamentals will remain challenged, and thus we remain Sell rated [on Coinbase]." "While Coinbase is taking industry market share on the deterioration of business at Binance, it seems to be under-growing certain smaller domestic platforms, reflecting a different sort of competitive landscape."

Persons: Crypto, Coinbase, Goldman Sachs, Refinitiv, Will Nance, Nance, Needham, Binance, Piper Sandler, Raymond James, Michael Bloom Organizations: U.S . Securities, Exchange, SEC, BTC, JPMorgan, Bank of America Locations: Wall, Binance, Underperform

The squeeze has already claimed its first casualty in electric truck maker Lordstown Motors (RIDEQ.PK), which filed for bankruptcy in June. Companies including Lucid (LCID.O) and Nikola (NKLA.O) are likely to report another quarter of steep cash burn, as they continue to struggle with production and demand. Nikola, which reiterated a going-concern warning in May, is expected to report a 15% decline in revenue and widening losses on Friday. Its shares have rallied nearly 40% this year as the company attempts to reduce its cash burn with layoffs and the liquidation of a recently acquired battery business. But the company missed its production target in the quarter due to a parts shortage.

Persons: Thomas Peter, Tesla, Nikola, Thomas Hayes, Hayes, Needham, Chris Pierce, Akash Sriram, Sayantani Ghosh, Devika Organizations: REUTERS, Ford, Lordstown, Rivian, Visible Alpha, Saudi Arabia's Public Investment Fund, Thomson Locations: Beijing, China, Bengaluru

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