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https://www.cnbc.com/id/39342285

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Targa Resources

Green Grows On Companies And Investors

“Many people think of green stocks as solar and wind, which would be way too risky and volatile to base a diversified portfolio on — they don’t realize there are leading large cap companies as well as companies across most industry sectors that can provide the basis for a well balanced portfolio,” says Rona Fried, editor and publisher of Progressive Investor, and president of SustainableBusiness.com. Both strategies can be accomplished by buying individual stocks, mutual funds, or exchange-traded funds—or a combination of all three. There are also now plenty of stocks for an individual investors to consider. This past fall, Sustainable Business and Nasdaq created a“green economy” indexof 368 global companies, which are also available on the firm’s websitelisted in several categories ranging from “bio from “biomass/biofuels,” to “natural health & supplements.” “If an investor is comfortable creating and tracking their own portfolio, they would be easily able to create a completely green portfolio that’s nicely diversified across small, medium and large companies and across various industry sectors,” says Fried. That may be true. But Hal Brill, cofounder of the financial advisory firm Natural Investments, said investors who want to take on building their own green investment portfolio need to make sure they have plenty of time to get to know each company, many of which are small and vulnerable to market swings. “As a professional who learned some lessons the hard way, unless you’ve got the resources to visit the companies and interview management yourself…it’s really hard in this field,” Brill says. A better strategy, says Brill, is to invest in mutual funds or exchange traded funds. There are several green ETFs that invest in baskets of alternative-energy or clean-tech companies. Brill says he uses ETFs, in combination with funds for his green-minded clients. As with any green fund, investors should make sure the manager is buying companies in sync with their values. Not all water funds are high-minded businesses determined to improve water quality, for instance. “Just because they are in that space, doesn’t mean they are good,” Brill said. How to Pick a Green Fund For those who would rather leave the stock picking to a mutual fund manager, several pure-play funds exist. Investors can find them at Social Investment Forum, a trade organization, and SocialFunds.com by screening the universe of SRI funds for those focused on the environment. But fund investing has risks too in that green funds have widely different strategies. “Make sure it’s the type of fund you are looking for,” says David Kathman, senior mutual fund analyst at Morningstar. “As with a (socially responsible investing) fund, you need to look at what the screening criteria are and if they are in line with your values.” Green funds take two basic approaches — they either narrowly focus on specific sectors, such as Calvert Global Alternative Energy orDWS Climate Change — or they invest in a broad universe of companies considered environmentally friendly. Morningstar calls these “best-in-breed,” funds, because they invest in companies with “industry leading environmental track records.” Alger Greenand Green Century Equity, for instance, look likeS&P 500 funds, but they focus on companies that consider the environmental implications of their products and business practices. Apple , Microsoft and Wal-Mart were Alger Green’s top holdings as of the end of the second quarter. Microsoft, Procter & Gamble , and Johnson & Johnson were Green Century Equity's top picks. Among pure green funds, one with a broader strategy is Winslow Green Growth . The fund, one of the oldest in the sector, invests across the green spectrum, but sticks to smaller companies in a range of industries that either make an environmental product or provide a solution to an environmental problem. The fund is considered one of the best in the category by Morningstar, although Kathman cautions it’s a fund for the “risk-tolerant” as it’s oriented to “small and speculative” companies. Winslow Green changed its original strategy of using “negative screens” to weed out companies in industries like oil, coal, tobacco and nuclear powers after Whole Foods went public in January 1992, and the firm began to see “green” could be a driving force behind a company’s business strategy, said founder Jack Robinson, That universe of companies grew from virtually nothing in the early 90s to more than 1,000, many of which have the potential to grow in the double-digits, Robinson said. Specifically, green building and construction has a potential annual growth rate of 29 percent, according to Winslow while companies in the Smart Grid business can grow by 23 percent annually. “Growth rates are accelerating, because demand is going up and the cost (of solutions) is going down,” Robinson said. Some of Winslow’s biggest holdings include First Solar , a solar manufacturer, Bioexx Specialty Proteins , a Canadian oilseed processing company, and American Superconductor , a power technology company working to include renewable energy sources into smart grid electricity systems. Taking the Corporate Approach Investors who want to wade into the green arena, but don’t have the stomach for risk may want to consider the big cap approach: investing in corporations that factor the environment into their bottom line.

https://www.cnbc.com/2021/03/31/biden-infrastructure-plan-to-raise-taxes-on-global-corporations.html

TGT

Target Corporation

Biden targets global corporations to fund landmark infrastructure plan

watch now The Biden administration will attempt to generate $2 trillion over 15 years to help fund a once-in-a-generation infrastructure plan through stricter corporate tax policies and a crackdown on offshoring. As part of the landmark infrastructure plan, President Joe Biden will on Wednesday propose a tax strategy that would increase the U.S. corporate tax rate to 28% from 21% in what would amount to a partial rollback of former President Donald Trump's 2017 tax cuts. Biden's plan, if adopted, would also make it harder for multinational companies to qualify for federal tax deductions based on tax payments to certain foreign governments. Biden is scheduled to unveil his infrastructure plan at 4:20 p.m. ET in Pittsburgh, the birthplace of his 2020 presidential campaign. The administration said that it would try to work with other nations to halt a global "race to the bottom" on corporate tax rates that allows countries to gain a competitive advantage by attracting businesses with lower duties. That would allow the U.S. to hike its corporate rate to the proposed 28% without a broad exodus to countries with more competitive rates. Barring collaboration with other countries, a corporate tax rate of 28% would put the U.S. toward the higher end of the global corporate tax rate spectrum among major economies. This proposed tax plan is designed to stop "unfair and wasteful profit shifting to tax havens, and ensures that large corporations are paying their fair share," the White House said in a fact sheet released Wednesday. Reception of the Biden plan was mixed, with fans of a more progressive tax code lauding the plan. "The President has rightfully proposed to begin dismantling the nation's rigged corporate tax system, which for too long has allowed huge corporations to dodge paying their fair share of taxes and encouraged offshoring of jobs and profits," Frank Clemente, executive director of left-leaning Americans for Tax Fairness, said in a press release. Though administration officials including Treasury Secretary Janet Yellen have repeatedly said any tax increases would be introduced gradually, Biden's strategies to generate revenues are key to an infrastructure plan many Democrats campaigned on last year. The president's proposal would put $621 billion into transportation infrastructure such as bridges, roads, public transit, airports and electric vehicle development. It would also include $300 billion for improving drinking water and $300 billion for building and retrofitting affordable housing. watch now Lobbying groups favorable to industry interests, as well the vast majority of the Republican caucus on Capitol Hill, are deeply skeptical of Biden's plan in part because of their enthusiasm for Trump's tax cuts just over three years ago. The corporate tax rate at the time was 35%. Senate Minority Leader Mitch McConnell, R-Ky., told reporters Wednesday that if the Biden plan is "going to have massive tax increases and trillions more added to the national debt, it's not likely" he would support it. The U.S. Chamber of Commerce deemed the current initiative ill-advised and dangerous for an economy only just gaining momentum after the Covid-19 pandemic triggered a recession one year ago. "We believe the proposal is dangerously misguided when it comes to how to pay for infrastructure," the Chamber said in a release on Wednesday. "We strongly oppose the general tax increases proposed by the administration which will slow the economic recovery and make the U.S. less competitive globally." Critical to Biden's "Made in America" tax plan will be efforts to discourage the offshoring of jobs and profits by strengthening the global minimum tax for multinational corporations. Historically, incentives in the U.S. tax code encourage companies to invest and create jobs overseas. Democrats have for years pushed to close loopholes that allow U.S. firms to avoid federal taxes by reporting a significant portion of their total profits in havens such as Bermuda and the Cayman Islands. The White House wants to increase the minimum tax on U.S. corporations to 21%, up from the 10.5% that Trump's 2017 tax cuts introduced. Biden would require companies to calculate that tax on a country-by-country basis "so it hits profits in tax havens." The plan would change a provision that lets companies exclude 10% of their tangible foreign assets from the calculation of the base of the minimum tax. Democrats argue that the existing provision rewards companies for locating factories abroad, though it's unclear how large a role the provision plays in companies' capital investments overseas. The infrastructure plan does not include any of the headline income tax increases Biden promised during his campaign. The proposal leaves out raises to taxes on top earners' individual income, capital gains, estates and noncorporate businesses.

https://www.cnbc.com/2023/12/04/uber-gets-the-nod-to-join-the-sp-500-heres-where-analysts-see-the-stock-going-next.html

TGT

Target Corporation

Uber gets the nod to join the S&P 500. Here's where analysts see the stock going next

Analysts say Uber Technologies' forthcoming ticket into the S & P 500 is a positive catalyst for the stock moving forward. The dominant ride-hailing company on Friday was named by S & P Dow Jones Indices to join the benchmark index before the opening bell on Dec. 18, replacing Sealed Air Corporation. Uber stock was 5.5% higher in early trading Monday in anticipation of index fund managers adding it to their portfolios. UBER YTD mountain Uber stock. Oppenheimer analysts led by Jason Helfstein raised their price target on Uber to $75 per share, or about 31% higher than Friday's $57.35 close, and reiterated an outperform rating following the announcement. Helfstein said in a report that Uber's entry into the S & P 500 could underpin future stock appreciation by bolstering investor sentiment. "Following the inclusion, we expect UBER to lean into growth and share buybacks, which should increase investor sentiment for growth/return in 2024," Helfstein wrote. "We believe this is a positive for Uber shares given that the S & P 500 is one of the most widely followed benchmarked indices in the equity markets," William Blair analyst Ralph Schackart said in a Sunday note, reiterating an outperform rating. "We believe that Uber will transition from 'nice to own' by investors to an 'allocation consideration' now that it is included in the S & P 500." Redburn Atlantic analyst James Cordwell also maintained a bullish outlook on Uber, restating a buy rating on Monday and raising his target price to $68 per share, or about 19% upside. "The focus now turns to where next, with the problem being that the obvious target — $10bn in FY26 — is already factored into consensus," Cordwell said, referencing an objective for earnings before interest, taxes, depreciation and amortization. "However, we believe the company should switch investor focus to GAAP EPS, where our $3 FY26 forecast still offers material upside and the implied 18.5x P/E remains compelling, in our view." — Additional reporting by CNBC's Michael Bloom.

https://www.cnbc.com/2020/08/11/workhorse-group-is-up-more-than-400percent-this-year-cowen-just-nearly-doubled-its-price-target-anyway.html

TGT

Target Corporation

Workhorse Group is up more than 400% this year. Cowen just nearly doubled its price target anyway

(This story is for CNBC PRO subscribers only.) Shares of electric vehicle maker Workhorse Group have gained more than 400% this year amid a surge in investor interest in the space, and Cowen believes the stock can continue to climb higher. The firm reiterated its outperform rating on the company, while raising its target to $20 from $11.50. The new target is nearly 30% above where the stock currently trades. The call comes after the company reported second quarter results on Monday that showed a net loss of $131.3 million for the period due in part to a one-time interest expense of $124.3 million. In the same quarter a year ago the company reported a net loss of $20.1 million. The company also reaffirmed its prior production and delivery target of 300 to 400 vehicles for this year. "After a tough few quarters, we see greener pastures ahead," Cowen analysts led by Jeffrey Osborne said in a note to clients Monday night. "The 2H ramp remains on track," he added. Workhorse is focused on last-mile delivery vehicles, and currently has partnerships with UPS and FedEx Express, among others. Osborne noted that a potential upcoming catalyst for the stock could be an order from the U.S. Postal Service to upgrade its fleet of vehicles. According to Cowen, the company is one of two final contenders for the contract. "A positive outcome for the U.S. Postal Service contract would comfortably lead the company to profitability," the firm said. However, given that it's not yet assured, Cowen hasn't included the upside in its financial targets for the company. Workhorse Group also holds a 10% stake in Lordstown Motors, which last month announced that it will go public later this year through a reverse merger with special purpose acquisition company DiamondPeak Holdings . "The next catalyst for the stock is the commencement of C-series [step vans] vehicle production, followed by progress with the Lordstown Motor Corporation, which we believe will begin in 2H21," Osborne wrote. "While we continue to take a conservative stance, we see a path to profitability in FY22." Workhorse has been public since 2009, but for a while the stock appeared to be on a road to nowhere. That's changed in a dramatic fashion this year, however, as investors pile into the name amid enthusiasm for the broad electric vehicle space. As recently as March the stock traded under $2, before climbing to $22.90 in July. Since then it's lost about 30%, however, and currently trades around $15.80. In addition to Lordstown Motors, EV startup Fisker also plans to go public later this year through Apollo Global Management-backed special purpose acquisition company Spartan Energy Acquisition. Nikola also took this approach, accessing the public market through a reverse merger with VectoIQ, which was completed in June. Workhorse CEO Duane Hughes attributes the sudden spike in his company's stock to a combination of its fundamental business, as well as greater attention paid to the industry more broadly. "There's been a big spotlight shown on the electric vehicle space," he said recently on CNBC's "Fast Money." "It's been really difficult over the years to scream loud enough as an automotive OEM out of Cincinnati to get the attention we feel we deserve based on the performance of our vehicles that have been on the road for more than six million miles ... I would like to think that a lot of it [the stock surge] is because of our performance as a company, but it's also just that people are taking a much higher profile view of the space," he added. Shares of Workhorse finished Tuesday's session slightly higher. (This story is for CNBC PRO subscribers only.) Workhorse W-15 Electric Pickup Truck. Source: Workhorse

https://www.cnbc.com/2021/01/10/capitol-riot-jpmorgan-and-citigroup-join-us-corporations-pausing-political-donations.html

TGT

Target Corporation

JPMorgan and Goldman Sachs join U.S. corporations halting political donations after Capitol riot

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., second left, listens during a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, April 10, 2019. JPMorgan Chase , Goldman Sachs and Citigroup announced temporary suspensions of political donations following last week's invasion of the U.S. Capitol by a mob of Trump supporters. JPMorgan, the biggest U.S. bank by assets, is pausing political action committee contributions for Republicans and Democrats for "at least" the next six months, spokesman Steve O'Halloran said. The New York-based bank will use that time to consider changes to its political-donation strategies. "The country is facing unprecedented health, economic and political crises," said JPMorgan's head of corporate responsibility Peter Scher. "The focus of business leaders, political leaders, civic leaders right now should be on governing and getting help to those who desperately need it most right now. There will be plenty of time for campaigning later." Spurred on by Wednesday's riot, which resulted in at least five deaths, corporations including Marriott International and Blue Cross Blue Shield have said they would stop giving money to Republican lawmakers who backed efforts to disrupt the confirmation of President-elect Joe Biden's victory over President Donald Trump. But most banks, rather than targeting and potentially alienating members of the Republican Party, have instead decided to halt donations to all lawmakers for now. The moves were part of the larger fallout from an insurrection that forced American corporations to come to terms with how to respond. Technology companies including Twitter , Facebook and Amazon have made moves to limit the spread of disinformation that could incite more violence. Political action committees allow companies to sidestep federal laws that prohibit them from giving money directly to candidates. They pool voluntary employee donations and can direct up to $5,000 to a candidate per election, as well as $15,000 annually to any national party committee. Of the six biggest U.S. banks, only Morgan Stanley made it clear that it will not make donations to members of Congress who opposed the Electoral College certification of Biden. The firm will continue contributions to other lawmakers, according to a person with knowledge of the situation who spoke on condition of anonymity. Credit card issuer American Express said Monday its PAC will no longer support candidates who tried to "subvert the presidential election results and disrupt the peaceful transition of power." In the past, the PAC had contributed to 22 of the 139 House members who objected to the election results, and none of the senators, the firm said. Goldman Sachs paused all PAC donations last week "in light of what happened" at the Capitol, spokesman Jake Siewert said in an e-mail. The ban will likely be for six months, he said. Citigroup is also pausing contributions to all lawmakers during the first quarter, the bank told employees Friday in an internal communication. "We want you to be assured that we will not support candidates who do not respect the rule of law," Candi Wolff, head of Citi's global government affairs, said in the memo. "We intend to pause our contributions during the quarter as the country goes through the presidential transition and hopefully emerges from these events stronger and more united." Bank of America spokesman Bill Halldin said that the "appalling violent assault on the U.S. Capitol" will factor into donation decisions for the 2022 midterm elections. Late Monday, Halldin added that the bank would halt all PAC funding "for the immediate future." Wells Fargo is "reviewing its go-forward Political Action Committee strategy in light of the terrible and tragic events of last week," spokeswoman Jennifer Dunn said in a statement.

https://www.cnbc.com/2024/04/18/buy-stocks-thursday-like-nvidia-tesla.html

TGT

Target Corporation

Here are Thursday's biggest analyst calls: Tesla, Nvidia, Apple, Amazon, eBay, Zoom, JetBlue, BJ's & more

Here are Thursday's biggest calls on Wall Street: Bank of America adds Cisco Systems and Goldman Sachs to the US1 list Bank of America added both stocks to its top picks list. "We are adding Cisco Systems (CSCO), Goldman Sachs Group (GS), and S & P Global (SPGI) to the US 1 List." JPMorgan upgrades JetBlue to neutral from underperform JPMorgan said it likes the stock's turnaround potential. "That said, we believe JBLU is increasingly well- positioned for a modest potential move to the upside based on improving market sentiment." Loop initiates Samsara as buy Loop said the software company is another way to play the AI and machine learning theme. "We are initiating coverage of Samsara (IOT) with a Buy rating and $42 price target." KBW downgrades US Bancorp to market perform from outperform KBW downgraded US Bancorp following the company's earnings report. "NII [net interest income] Outlook Weighs on the Stock; Downgrading to MP." Oppenheimer initiates Sprout Social as outperform Oppenheimer said the software company is an "attractive vehicle for owning a strong management team and category leader in social media management at a reasonable valuation." "We launch coverage of SPT at Outperform and a $76 PT." JPMorgan reiterates Duolingo as overweight JPMorgan said the online language app company has an attractive risk/reward. "We believe there is potential upside to both DUOLs 1Q guide & 2024 outlook, which aligns with investor expectations based on our conversations." Oppenheimer initiates Oracle as perform Oppenheimer said the company has a "less efficient cash model." "We see Oracle as a long-term beneficiary of the software industry secular trends (including digital transformation, generative AI, etc.) driving revenue growth and operating leverage." Deutsche Bank adds a catalyst call buy on Estee Lauder Deutsche added a short-term buy rating on shares of the beauty giant. "We view the setup into EL's coming FY3Q24 results on May 1 skewing positively." Mizuho upgrades Linde to buy from neutral Mizuho said the chemical company has defensive qualities. "We upgrade LIN to Buy from Neutral with an unchanged price target of $510, which represents ~30x our 2025E EPS of $17.00." TD Cowen reiterates Nvidia as buy TD Cowen said it's "full speed ahead" for Nvidia. "All systems go at the AI juggernaut on the heels of the 'rock concert-like' GTC in March." Bernstein reiterates Apple as market perform Bernstein said it's getting more "constructive" on Apple shares but is sticking with its market perform rating for now. "We see 3 main avenues for Apple to monetize AI, albeit with cannibalization risk: 1) Offering AI-enabled capabilities on iPhone 16, which could drive incremental hardware sales; 2) capturing AI search upside through Advertising; 3) charging a take rate on AI apps." Jefferies initiates Kite Realty Jefferies said the real estate investment trust is undervalued. " KRG is underappreciated given strength in the retail leasing cycle & for having the highest leasing upside potential." Evercore ISI initiates GE Vernova as outperform Evercore says GE Vernova is "well positioned for the energy transition." "The Key Player in the Mission to Electrify and Decarbonize the Power System; Well Positioned for the Energy Transition Supercycle." Loop downgrades BJ's to hold from buy Loop downgraded the stock mainly on valuation. "We spoke with management prior to their quiet period, and we checked a number of BJ's and competitor stores in our Metro NY market. We're lowering our estimates today for merchandise SSS [same-store sales] and gross margin." Deutsche Bank downgrades Tesla to hold from buy Deutsche downgraded the stock due to the possibility of a Model 2 "push-out." "We are downgrading TSLA to Hold from Buy and cutting our price target to $123, in light of the high likelihood of Model 2 push-out and the company's change of strategic priority to Robotaxi." Needham reiterates Amazon as buy Needham said it's sticking by shares of the e-commerce giant. "The catalyst for this note is to raise our FY24 profit ests for AMZN, based on CEO Andy Jassy's shareholder letter promising more cost-cutting at AMZN's inbound fulfillment architecture and inventory placement during FY24." BTIG initiates FTAI Infrastructure as buy BTIG said it's bullish on shares of the infrastructure company "We are initiating coverage of FTAI Infrastructure (FIP) with a Buy rating and a $10 PT." BMO upgrades SL Green to outperform from market perform BMO said commercial real estate in New York City "is back." "We upgrade shares of SLG to Outperform with a $58 target price. New York City office is one of the few REIT subsectors seeing improved demand." JPMorgan adds a negative catalyst watch on CarMax JPMorgan said Carvana's upcoming earnings report is a negative for CarMax shares. "Keeping this in context, we see CVNAs 1Q results, scheduled for 5/1 AMC, as a negative catalyst for peer KMX shares, given volumes at KMX continue to remain weak, and are likely to re-surface more structural and competitive concerns around the LT growth and margin potential." DA Davidson upgrades Barnes to buy from neutral DA said shares of the global industrial tech and aerospace company are attractive. The firm also added the stock to its best-in-class Stampede list. "We are upgrading shares of Barnes Group from Neutral to BUY and are additionally raising our PT from $35 to $45." Mizuho initiates The AES Corporation as buy Mizuho said it's bullish on shares of the utilities company. "We are initiating coverage of AES with a Buy rating and $21PT. AES is an owner and operator of US utilities, renewable developer, and global energy infrastructure pioneer." Morgan Stanley downgrades Match to equal weight from overweight Morgan Stanley said in its downgrade of the stock that it needs more evidence of user growth. "We downgrade MTCH from OW to EW and maintain BMBL at EW as we watch for evidence that product improvements are reaccelerating user growth." Morgan Stanley upgrades eBay to overweight from underweight and downgrades Etsy to underweight from equal weight Morgan Stanley opened a pair trade on Etsy and eBay. "We pair OW EBAY (u/g from UW) and UW ETSY (d/g from EW) on growth convergence." KeyBanc upgrades Zscaler to overweight from sector weight Key upgraded the IT security company following a series of positive channel checks. "We are upgrading shares of ZS in conjunction with our 1Q24 IT VAR survey given: 1) our more constructive view on the competitive landscape; 2) positive channel and survey feedback." Rosenblatt upgrades Zoom to buy from neutral Rosenblatt upgraded the stock after positive channel checks. " Zoom has revitalized its channel strategy with updated programs and incentives, generating positive partner feedback." Loop downgrades Knight-Swift to hold from buy Loop says the transportation company is in a "difficult place." " Knight-Swift is in a very different place, with a profit warning on Wednesday guiding Q1 EPS to a range of $0.19 to $0.20 from the prior guide of $0.37 to $0.41 just 12 weeks ago." Janney initiates Vistra as buy Janney said it's bullish on shares of the energy company. "Near-term cash flow is well hedged. Additionally, VST is unaffected by any newbuild-related trends such as interconnection queue delays, supply-chain headwinds, etc." Morgan Stanley names Comcast a top pick The firm said the cable giant is its new top cable pick. "We remain bullish [on] CMCSA shares given valuation, diversification, and a strong balance sheet." Disclosure: Comcast owns NBCUniversal, the parent company of CNBC. Benchmark initiates Beacon Roofing as buy Benchmark said shares of the roofing company are attractive. "We are initiating coverage on shares of Beacon Roofing Supply (BECN), a leading roofing products distributor in the United States, with a Buy rating and $135 PT."

https://www.cnbc.com/2021/06/30/shell-company-mark-miller-attorney-quits-new-world-gold-lawsuit.html

TGT

Target Corporation

'Here's a curveball': Attorney for alleged shell stock hijacker quits lawsuit targeting New World Gold

People exit the headquarters of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C., May 12, 2021. A lawyer for a Minnesota man criminally charged with hijacking multiple dormant shell companies in a pump-and-dump stock scheme abruptly withdrew on Wednesday from a civil lawsuit in which that man sought control of another inactive company based in Florida. The action by attorney David Rothstein came at a Florida court hearing two days after CNBC revealed that his client, Mark Miller, recently made moves to take control of the company, New World Gold Corp ., that resembled Miller's allegedly illegal tactics used to seize up to seven other inactive shell companies between 2017 and 2019. New World Gold purportedly is in the mining business. Miller was named a director of the company in May at a shareholder's meeting, which came after he filed a lawsuit that asked a judge to order that meeting be held. "Here's a curveball, Your Honor," Rothstein told Palm Beach County Court Judge G. Joseph Curley during a Zoom hearing on a motion related to New World Gold. Because of "recent developments," Rothstein said, "my firm is seeking to withdraw. It came to a head just yesterday." Rothstein said his withdrawal request was spurred by "irreconcilable differences that have nothing to do with money." "To say anything more than that, I think, would put myself in a compromising situation," the lawyer told Curley. "A more pressing concern for myself, selfishly, and for my law firm is to seek to withdraw from this matter." Curley granted the lawyer's motion to withdraw. Miller, who lives in Breezy Point, Minnesota, and who has a construction contracting business, was not on the Zoom hearing. A man who answered Miller's cell phone on Wednesday morning said he was not Miller and then hung up when a CNBC reporter called seeking comment. His criminal defense lawyer in Minnesota declined to comment. Miller was indicted with two other men last week in federal court in Minnesota. He separately was sued in the same court by the Securities and Exchange Commission. The indictment against Miller says he and two co-defendants used fake resignation letters from officials of the companies to seize control of four inactive shell companies with publicly traded stock. They then allegedly issued false or misleading statements via press releases and social media, as well as the SEC's own EDGAR public filing system, to claim the companies had attractive new business opportunities, according to the charges. Miller and his alleged co-conspirators are accused of buying up millions of shares of these companies, often for less than a penny, then selling off those shares after pumping up the stock price with fraudulent claims. The SEC, in its civil lawsuit, identified three additional penny-stock companies also believed to be similarly targeted by Miller: Bebida Beverage Company , Simulated Environment Concepts and Strategic Asset Leasing . Rothstein was in court Wednesday for a legal motion that Miller filed just a day before CNBC had revealed he had been criminally charged with the shell company hijack scam. In February, Miller, using Rothstein as his lawyer, sued New World Gold, a Boca Raton-based company that has been inactive for years. The company has not made annual filings with the Florida Secretary of State since 2015, Division of Corporations database shows. The company was just reinstated on June 4, according to the database. Miller, as a shareholder in New World Gold, "seeks this Court's order compelling the holding of an annual shareholder meeting so that Mr. Miller may address the status of the business of the Company," his lawsuit said. After the judge granted that request, the shareholder meeting was held on May 27 and about 100 shareholders unanimously voted their 450 million shares to elect Miller as director, according to Rothstein. Rothstein told the judge at Wednesday's hearing that the prior director of New World Gold is "physically incapacitated and has been in a coma on life support for some extended period of time" and that no one representing the company has ever responded to the lawsuit. In the motion that originally was the subject of Wednesday's hearing, Miller was asking the judge, Curley, to rule that there had been a legal quorum for the shareholder meeting, making Miller's election as director legitimate. Rothstein said Miller only became aware after that meeting there were more than 2 billion shares of New World Gold outstanding. That would normally make the presence of 450 million shares at a shareholder's meeting far less than the quorum for a voting group, according to a Florida statute. Miller's motion says that Curley has the power to retroactively grant that there was a quorum for the voting group present for the meeting. The judge did not rule on that motion Wednesday, giving Miller time to obtain a new lawyer.

https://www.cnbc.com/2020/06/10/india-targets-lofty-climate-goals-with-6-billion-deal-to-boost-solar.html

TGT

Target Corporation

Indian firm to invest $6 billion in solar power as country targets lofty renewable energy goals

India's Adani Green Energy Limited (AGEL) has won a major contract which will see the firm develop 8 gigawatts (GW) of solar power over the next few years, as authorities in the country look to ramp up capacity to meet ambitious renewable energy targets. Announced on Tuesday, the $6 billion manufacturing-linked agreement between AGEL and the Solar Energy Corporation of India (SECI) will see AGEL set up 2 GW of what it described as "solar cell and module manufacturing capacity." Under the agreement AGEL, which is part of the larger Adani Group, will develop 2 GW of solar capacity by the year 2022, with the other 6 GW coming online in 2 GW chunks. These projects will include a large-scale "single-site generation project" of 2 GW. In terms of the manufacturing facilities, Adani said that these would be set up by the year 2022. They will supplement a current production capacity of 1.3 GW and represent the latest example of India attempting to boost its domestic manufacturing capabilities. "SECI had made several attempts to kick start the domestic manufacturing process through tenders but had failed to attract sufficient investors in the past," Rishab Shrestha, a senior research analyst at Wood Mackenzie, said in a statement emailed to CNBC. "The cost competitiveness of domestic manufactured modules against Chinese imports was and still remains the key hurdle," Shrestha added. According to AGEL, the deal announced Tuesday will lead to the creation of 400,000 direct and indirect employment roles. "The drive for self-reliance on the energy value chain is becoming stronger as coronavirus disrupted the solar imports earlier in the year and impacted … installation activity," Wood Mackenzie's Shrestha said. "Focusing on localising (the) supply chain also offers significant job opportunities for the growing Indian workforce," he added. "The scale of renewable projects is also being given a sharp focus as it's critical in driving down costs." Prime Minister Narendra Modi's government has set itself some ambitious targets when it comes to renewable energy, including a near term goal of 175 GW of renewable capacity by the year 2022. Capacity refers to the maximum amount that installations can produce, not what they are currently generating. To put these targets into perspective, the country's installed capacity at the end of May — for all energy sources — was slightly over 370 GW, according to government statistics. Breaking the numbers down, renewables — listed as small hydro, wind, solar and bio-power — accounted for over 87.3 GW of this total. By contrast, installed coal capacity stood at just over 205 GW, a figure which reinforces how much work still needs to be done. Moreover, the International Energy Agency states that coal remains India's "largest domestic source of energy supply and electricity generation."

https://www.cnbc.com/2021/03/11/nike-sets-diversity-goals-for-2025-ties-executive-comp-back-to-them.html

TGT

Target Corporation

Nike sets fresh diversity targets for 2025, and ties executive compensation to hitting them

The Nike logo is seen on the Nike store on February 22, 2021 in New York City. Nike has laid out a five-year roadmap to creating a more diverse and inclusive workforce, the company announced Thursday, as corporate America is increasingly being held accountable for their values and the actions that come with them. For the first time, Nike said, it will also be tying its executive compensation to the company making progress in deepening diversity and inclusion throughout its workforce, protecting the planet, and advancing ethical manufacturing. It didn't offer further details but said compensation would be tied to the company hitting its 2025 goals. "We're proud of the successes we've seen, but we know the work is still just beginning," President and Chief Executive Officer John Donahoe said in a letter addressing the five-year targets. "We are also redefining what responsible leadership looks like." In outlining the progress Nike made in 2020, the sneaker maker said it has increased representation of women globally across its business to 49.5%, from 48% in 2015. Representation of racial and ethnic minorities, meantime, at the vice president level in the United States increased to 29% last year, from 15.9% in 2015. Nike also highlighted the fact that its 2020 intern class was its most diverse ever, with 55% of its 310 interns being women, and 49% representing racial and ethnic minorities. By 2025, Nike said, it aims to achieve 50% representation of women in its global corporate workforce (which doesn't include retail store and warehouse workers), and 45% representation of women in leadership positions (VP level and above). It's targeting 35% representation of racial and ethnic minorities in its U.S. workforce by then, too. Nike also said it will invest $125 million over the next five years to support businesses that work to "level the playing field" and address racial inequalities. Last year, following the killing of George Floyd by police in Minneapolis, Nike was one of a number of corporations that got behind a social justice movement and pledged to serve communities with a more diverse workforce. In June, it announced a $140 million commitment on behalf of the Nike and Jordan brands, and former NBA star Michael Jordan, to support businesses that help educate and promote Black Americans. "Our brand would not be what it is today without the powerful contributions of Black athletes and Black culture," Donahoe said in the letter. Nike has faced its share of criticism in recent years, though, for how it treats both women and employees of color. In late July 2018, it announced salary bumps for more than 7,000 workers and pledged to change and how it was awarding annual bonuses to its global staff, in an attempt to address concerns about pay equity and corporate culture. A year later, it started revising terms in new contracts to support athletes during pregnancy, after it was criticized for slashing pay of some female stars with children. Nike said its 2020 pay-equity data revealed that for every $1 earned by men globally, women earned $1. And for every $1 earned by white employees in the U.S., racial and ethnic minority employees earned $1 as well, it said. By 2025, Nike is pledging to maintain 100% pay equity across all employee levels, on an annualized basis. Read the full impact report from Nike here.

https://www.cnbc.com/2023/08/28/wells-fargo-upgrades-natgas-distributor-ugi-after-underperformance.html

TGT

Target Corporation

Wells Fargo upgrades gas and propane distributor UGI after underperformance

UGI Corporation has room to grow despite near-term headwinds, according to Wells Fargo. Analyst Sarah Akers upgraded the natural gas and propane distributor to overweight from equal weight and lowered her price target by $1 to $27. Akers' new target suggests shares could still gain 19% in the next year from where shares closed Friday. In the meantime, the stock currently yields 6.3%, according to FactSet. "Given the various (propane and marketing) issues that UGI has faced, we think it's prudent for our positive thesis to be based on a relatively conservative financial outlook," Akers wrote in a note Monday. The stock has tumbled 39% so far in 2023. Wells Fargo's outlook reflects higher interest rates on new debt at UGI International and UGI-owned AmeriGas Propane, the largest propane supplier in the U.S., as well as lower near-term nonutility growth capex as UGI focuses on its balance sheet. The analyst also factored in a more pessimistic view of international propane volumes. While domestic propane production has reached near-record highs in recent years, U.S. inventory has struggled due to higher exports. The turnaround that Wells Fargo expects at UGI comes after the stock lost more than 19% in 2022. The bank's outlook now assumes flat growth for UGI. UGI 5Y mountain UGI shares over the past five years The bank's new price target takes into account structural headwinds, but it believes the stock has fallen far enough that it offers a "sufficiently attractive" valuation, Akers wrote. She said the firm's positive investment thesis assumes that UGI will focus on organic gas infrastructure growth, capital and cost discipline and balance sheet improvement, with longer-term opportunities tied to decarbonization. "Based on our recent conversations with UGI, we are comfortable that mgmt. is committed to weathering headwinds and improving the balance sheet without the issuance of external equity," she wrote. Wells Fargo also sees additional upside potential to its outlook and price target, should UGI successfully reboot volumes and margins at recently acquired AmeriGas. — CNBC's Michael Bloom contributed reporting.

https://www.cnbc.com/2018/04/19/target-leads-the-way-as-u-s-corporations-look-to-go-big-on-solar.html

TGT

Target Corporation

Target leads the way as U.S. corporations look to go big on solar

American businesses are investing record amounts in solar, with the top corporate users adding 325 megawatts (MW) of installed capacity last year, according to a report. Leading the way was Target , which added over 40 MW of solar capacity to its portfolio in 2017. The retailer now has more than 200 MW of installed capacity. Released Thursday, the "Solar Means Business 2017" report, from the Solar Energy Industries Association (SEIA), contains data from more than 4,000 businesses. "To leading companies across America, deploying solar is a common-sense business decision," Abigail Ross Hopper, president and CEO of the SEIA, said in a statement. "Large corporations have found that going solar not only benefits the environment, but also their bottom-line, satisfying both shareholders and customers alike." The top 10 corporate solar users in the U.S. include businesses such as Walmart , Apple , Amazon and Kohl's . The impact of corporate solar is not insignificant. The solar installations tracked in the SEIA report produce enough electricity to power 402,000 U.S. houses and offset 2.4 million metric tons of carbon dioxide each year. Target's vice president for property management, John Leisen, said that the business was "putting solutions in place across our business to leave our homes better for future families." The world has invested $2.9 trillion in green energy sources since 2004, according to the "Global Trends in Renewable Energy Investment 2018" report from UN Environment, the Frankfurt School-UNEP Collaborating Center, and Bloomberg New Energy Finance. The report, released earlier this month, found that 98 gigawatts (GW) of new solar capacity was installed in 2017. Solar power attracted $160.8 billion of investment, more than any other technology. China, where a staggering 53 GW was added and $86.5 billion invested, was described as a "driving power" behind the increase in solar.

https://www.cnbc.com/2015/01/27/midday-movers-lockheed-martin-plantronics-more.html

TEL

TE Connectivity

Midday movers: Lockheed Martin, Plantronics & more

CIT Group - The commercial lender edged lower after releasing quarterly results. Plantronics - The headset maker fell after it posted weaker-than-expected third-quarter results. Lockheed Martin - The defense contractor fell after projecting 2015 earnings short of estimates. Rivals Northrop Grumman , Raytheon and General Dynamics also dropped.. Take a look at some of Tuesday's midday movers: Twitter - The social-media supplier tumbled on user-growth concerns ahead of its earnings. CommScope Holding Company - The company surged on a Wall Street Journal report it was nearing a deal to buy TE Connectivity 's network-equipment unit for about $3 billion. Newmont Mining - The commodity producer and competitors including Barrick Gold , Goldcorp and Yamana Gold rose with gold. AK Steel - The steel supplier gained after better-than-expected fourth-quarter profits. Peabody Energy - The coal miner declined as it posted disappointing fourth-quarter earnings. Nucor - The he steel manufacturer rose after reporting a rise in quarterly profit. Family Dollar Stores - The discount retailer edged higher. Investor Nelson Peltz cut his stake by 72 percent, according to a regulatory filing. Bristol-Myers Squibb - The pharmaceutical company slid after saying the strong dollar will drag on its 2015 outlook. Novartis - The Swiss drug maker gained after projecting increased sales and profits. ( ) Questions? Comments? Email us at marketinsider@cnbc.com

https://www.cnbc.com/2014/06/18/after-hours-buzz-jabil-circuit-red-hat-more.html

TEL

TE Connectivity

After-hours buzz: Jabil Circuit, Red Hat, & more

Traders work on the floor of the New York Stock Exchange. Check out which companies are making headlines after the bell Wednesday: Jabil Circuit - The electronics maker reported a third-quarter adjusted loss of 6 cents per share on $3.79 billion in revenue. Analyst expected the firm to report a loss of 9 cents per share on $3.60 billion in revenue. Shares rose in after-hours trading. Red Hat - The software provider handed in first-quarter earnings, excluding items, that beat analyst estimates, sending shares higher in extended-hours trading. The company reported adjusted earnings of 34 cents per share on $423.8 million in revenue. Analysts had expected the firm to report earnings of 33 cents per share on $414 million in revenue. Read MoreS&P ends at record high; Fed cuts stimulus, seesimprovement Chemical Financial Corporation - The Michigan-based bank announced a $70 million public offering of common stock. Shares were lower in after-hours trading. TE Connectivity - The Swiss electronics maker said it would acquire Measurement Specialties, a sensor manufacturing firm, for $86 in cash per share, or a total transaction value of about $1.7 billion. Shares were unchanged in after-hours trading. Clarcor - The industrial machinery maker reported second-quarter earnings that beat expectations, sending shares higher in extended-hours trading. The company reported adjusted earnings of 76 cents per share on $386.6 million in revenue, versus expectations of 62 cents per share on $364 million in revenue.

https://www.cnbc.com/2014/06/16/cramer-perfectly-legal-strategy-to-avoid-high-taxes.html

TEL

TE Connectivity

Cramer: Perfectly legal strategy for ducking taxes

"That's what this is all about," Cramer said. Now, make no mistake, Cramer is well aware that tax evasion is a federal crime. However, if you're a company, Cramer says you can lower your tax rate legally—and in the blink of an eye—by merging with a rival that's headquartered in Ireland or another nation with significantly lower taxes. If anyone hates high taxes, it's Jim Cramer. And he's always looking for new ways to do something about them. Cramer was referring to the acquisition of Covidien by Medtronic for $42.9 billion. The deal shifts Medtronic's executive headquarters to Ireland from Minneapolis. After the deal is complete, Medtronic will face "a 12.5 percent corporate tax rate rather than the 35 percent rate here," Cramer said. "That's how it works. You buy a company that's legitimately headquartered in a lower-tax country, even if it does all of its business here, and then you can get out of paying the higher U.S. taxes," Cramer said. And because the trend promises a significant boost to the bottom line, Cramer sees every reason to believe other companies will follow Medtronic's lead. For example, Eaton Corp . is also domiciled in Ireland. "It's in Dublin," Cramer said. "I think Emerson Electric or Honeywell could save themselves a heap of taxes by buying Eaton. Plus it has the added advantage of being a terrific company." Cramer can see similar developments involving Switzerland-based TE Connectivity . "I think it would be a great fit for Danaher. Not only would they be getting those sweet Swiss tax rates, but the company's also a good fit with Danaher's instrumentation business." "Or how about Chicago Bridge & Iron ," Cramer added. Despite the name, the company is actually located in The Netherlands. "Seems like a good fit for Fluor ." In fact, the "Mad Money" host doesn't think it's far-fetched to think a slew of mergers are in the offing, in almost every segment, as companies look to reduce their tax bill by acquiring an overseas rival. ---------------------------------------------------------- Read more from Mad Money with Jim Cramer Multiple messages from OpenTable deal Summer savings: Two Cramer faves going on sale? Cramer: 'Something unexpected may be imminent' ---------------------------------------------------------- "I know it's ridiculous, but there's lot of money at stake," Cramer said. "And the tax code specifically says that every American has a right to avoid paying as much taxes as they can without breaking the law. These moves are perfectly legal."

https://www.cnbc.com/2013/12/04/early-movers-jcp-jpm-c-fb-shld-aapl-more.html

TEL

TE Connectivity

Early movers: JCP, JPM, C, FB, SHLD, AAPL & more

AT&T – JPMorgan Chase downgraded AT&T stock to "neutral" from "overweight", pointing to increasing wireless competition among other factors. JPMorgan Chase , Citigroup – The two are among eight banks fined a total of $2.3 billion by the European Union for collusion in setting benchmark interest rates. Deutsche Bank and Royal Bank of Scotland were also among those fined. Separately, Citigroup was downgraded to "neutral" from "conviction buy" at Goldman Sachs , after a 27 percent jump since the stock was put on the "conviction buy" list————–. Brown-Forman – The spirits producer earned 96 cents per share for the second quarter, beating estimates by five cents, with revenue also above consensus, as the company continues to find new customers for its whisky brands. J.C. Penney — The retailer reported a 10.1 percent increase in November same-store sales. That marks the second straight monthly gain in comparable store sales for Penney. Check out which companies are making headlines before the bell: U.S. Bancorp – Goldman added the bank's stock to its "conviction buy" list, citing a re-acceleration of revenue growth and "best in class" capital return. Sears – Chairman and CEO Edward Lampert has reduced his stake in the retailer to 48.4 percent from 55.4 percent, according to an SEC filing. Lampert's hedge fund, ESL partners, distributed 7.4 million Sears shares to investors who decided to exit the fund, which did not sell any other shares. Bob Evans Farms – The food and restaurant company reported second quarter profit of 35 cents per share, excluding certain items, well below estimates of 55 cents.Revenue was also below consensus, amid a drop in same store sales at the company's restaurants. Express – The retailer earned 23 cents per share for the third quarter, two cents below estimates, though revenue was slightly above consensus, and also issued a light current quarter forecast. The company said its third quarter was "solid" despite an "extremely challenging and promotional environment". Facebook – Instagram director of business operations Emily White is leaving the Facebook unit to become chief operating officer of Snapchat, according to All Things D. Men's Wearhouse – The clothing chain may sell its off price chain K&G to Sycamore Partners, with Reuters reporting the private equity firm is in advanced talks with the retailer about such a transaction. Men's Wearhouse is in the midst of a takeover battle with Jos. A. Bank , having bid $1.5 billion last week to acquire its rival. BlackBerry – Interim CEO John Chen is in that job "for the long haul", according to the smart phone maker's largest shareholder, Prem Watsa. Watsa is head of Fairfax Financial , which has helped lead the effort to fund a turnaround for the beleaguered company. Watsa made his comments in an interview with Reuters. Google – Google's YouTube will not debut a planned until sometime in 2014, according to All Things D. TE Connectivity – The Tyco spinoff raised its quarterly dividend by 16 percent, to 29 cents per share from 25. The company is a maker of electrical connection devices for a variety of industries. Apple – Apple is on our watch list after closing at its highest level of 2013 in Tuesday's trading. Mosaic – RBC Capital began coverage on the fertilizer producer with an "outperform" rating and a $57 price target. eBay – Evercore Partners downgraded eBay's shares to "equal weight" from "overweight". Flextronics – Goldman Sachs downgraded the electronics manufacturer to "sell" from "neutral", citing the company's relatively high exposure to the consumer sector. —By CNBC's Peter Schacknow Questions? Comments? Email us at marketinsider@cnbc.com

https://www.cnbc.com/2013/10/21/fund-manager-bill-nygren-picks-two-new-stocks.html

TEL

TE Connectivity

Four-star fund manager Nygren picks two new stocks

Two "disappointing" stocks—Qualcomm and Nestlé —offer great opportunity, Oakmark Funds Portfolio Manager Bill Nygren said Monday. "When you're a long-term value investor like we are at Oakmark, we end up buying things that had been disappointing for others," he said. On CNBC's "Fast Money," Nygren said that Qualcomm held about a quarter of its $117.97 billion market capitalization in cash. "They're aggressively repurchasing shares. They've taken in about 4 percent already this year and have announced another 4 percent," he said, adding that Qualcomm stock, excluding cash, sells for about 7 times expected earnings for next year, with most of its earnings coming from a royalty on global sales of smartphones. (Read more: Play the 'massive sea of liquidity': Joe Terranova) "And even though penetration of smartphones has gotten quite high in the U.S., on a worldwide basis, especially emerging markets, we think there's a lot of room ahead for growth in smartphone sales," he said. Nygren also weighed in on Nestlé. "We've generally thought that most of the U.S.-based food companies had been pretty fully valued, but one of the things we learned with our Heinz holding earlier this year was how much more people were willing to pay for emerging-market exposure," he said. "And with the concerns about near-term emerging-market growth, we had an opportunity to buy Nestlé without having to pay a premium for its exceptionally good emerging-market profile."

https://www.cnbc.com/id/100859478

TEL

TE Connectivity

IRS Disallows $2.86 Billion in Deductions Taken by Tyco

''We believe that we have meritorious defenses for our tax filings, that the IRS positions with regard to these matters are inconsistent with the applicable tax laws and existing Treasury regulations, and that the previously reported taxes for the years in question are appropriate,'' Tyco said in the filing. The company said it isn't required to make any payments until the dispute is definitively resolved, noting that could take several years. Even so, Tyco warned that the ultimate resolution of the dispute is uncertain and could have a material impact on the company's financial condition. (Read More: IRS to Pay $70 Million in Bonuses: Senator) For example, if the IRS' claim prevails, it would likely affect some $6.6 billion in interest deductions related to intercompany debt and taken by the company in subsequent tax years. Tyco said it shares obligations on the issue with several companies that it spun off in recent years: Covidien, TE Connectivity, ADT, and Pentair. Tyco spun off its Covidien health care and Tyco Electronics units in 2007 in a series of moves aimed at recovering from a high-profile scandal that led to the convictions of its former CEO L. Dennis Kozlowski and ex-Chief Financial Officer Mark Swartz for fraud. Tyco Electronics subsequently changed its name to TE Connectivity Ltd. In 2012, it again separated into three public companies, forming The ADT Corp. and Pentair Ltd., along with Tyco International. The tax-sharing agreements calls for Covidien to share 42 percent of any tax liabilities, while TE Connectivity's share is 31 percent, Tyco said. Under its agreement with Pentair and ADT, the companies would also be responsible for covering a share of Tyco's tax liability. Pentair would share between 20 percent and 42 percent of the tax liabilities, while ADT would be responsible for 27.5 percent to 58 percent, Tyco added. Pentair and ADT's share depends upon whether Tyco's tax liability for 2012 exceeds $500 million or $725 million. Tyco International moved its global headquarters to Switzerland from Bermuda in 2009. It maintains its U.S. headquarters in Princeton, N.J. Its stock ended regular trading up $1.45, or 4.4 percent, at $34.40. Shares slipped 17 cents to $34.23 in extended trading. Covidien moved its global headquarters to Switzerland from Bermuda in 2008. Its U.S. headquarters is in Mansfield, Mass. Covidien stock closed Monday up 25 cents at $57.41, then gained another 13 cents after hours. TE Connectivity is likewise Swiss-based, with its main U.S. office in Berwyn, Pa. Its shares closed up 87 cents at $46.41. Pentair is also headquartered in Switzerland, and has its main U.S. office in Minneapolis. The stock closed up 56 cents at $58.25. Shares of ADT, based in Boca Raton, Fla., closed up 58 cents at $40.43, and added 7 cents in aftermarket trading.

https://www.cnbc.com/id/100849877

TEL

TE Connectivity

‘A Good-News Economy’ Ahead: Pro

(Read More: We Saw the 'Buy' Correction: Mike Murphy) "I think it's a good-news economy going forward from here," he said. Sloan cited Federal Reserve Chairman Ben Bernanke's optimistic comments about the economy a couple of weeks ago, even as economic conditions were not yet ideal. "We don't like the fact we're not growing at 4 percent real," he added. "That may be fine, but there's a plus sign in front of GDP growth, and it's not a negative sign." (Read More: Scott Black's Top 2 Value Stocks) Sloan, who has $11 billion in assets under management, also noted a positive durable goods report, increased employment and good consumer income numbers. "I think we have to move away from a valuation market to an earnings-driven market," he said, adding that the idea was "not lost on American businesses" that faced weaker economies in Europe and in emerging markets "We don't need a multiple tailwind behind us," he said. "We've got earnings tailwind behind us." (Read More: Look for Bargains in Commodities, Cyclicals: Pro) Trader disclosure: On June 27, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Mike Murphy is long BAC; Mike Murphy is long FB; Josh Brown is long AAPL; Josh Brown is long GE; Josh Brown is long TSLA; Josh Brown is long LULU; Josh Brown is long VGK; Josh Brown is long IEO; Jon Najarian is long RL; Jon Najarian is long NKE; Jon Najarian is long TSLA; Jon Najarian is long LULU; Jon Najarian is long WLL; Jon Najarian is long RRC; Jon Najarian is long MAR; Jon Najarian is long ZNGA; Jon Najarian is long TOL; Jon Najarian is short ABX; Jon Najarian is short NEM; Jon Najarian is short AGQ; Joe Terranova is long VRTS; Joe Terranova is long TRV; Joe Terranova is long AXP; Joe Terranova is long OXY; Joe Terranova is long CRUDE OIL; Joe Terranova is long FUTURES.

https://www.cnbc.com/2017/07/21/delivering-alpha-2017-edward-breen.html

TEL

TE Connectivity

Delivering Alpha 2017 Edward Breen

Edward D. Breen is the Chief Executive Officer of DowDuPont. Prior to his role at DowDuPont, Breen was the chair of the board and CEO of DuPont, a role which he assumed on Nov. 9, 2015. He joined the DuPont Board of directors in February 2015, was named interim chair of the board and CEO on Oct. 16, 2015, and assumed those roles permanently Nov. 9, 2015. Breen served as chairman and CEO of Tyco International plc ("Tyco") from July 2002 until September 2012. Over the course of his tenure, he transformed Tyco into a strong market leader, reviving the company from near bankruptcy and rebuilding the company's brand and credibility. He oversaw a successful restructuring, including divesting non-core operations resulting in the spin-offs of Covidien, TE Connectivity, ADT Corporation and the merger of Tyco Flow Control with Pentair. He also established and met goals within areas of operational excellence and corporate governance. Prior to joining Tyco, Breen held several senior management positions at Motorola from 2000 to 2002, including as president and chief operating officer. Breen is credited with instituting cost management programs that made Motorola a more efficient and effective organization and led the company back to profitability. From December 1997 to January 2000, he served as chairman, president and chief executive officer of General Instrument Corporation where he created significant long-term shareholder value by driving a revenue growth strategy. Between 1994 and 1997, Breen was president of the Broadband Networks Group for General Instrument, president of Eastern Operations for the Communications Division and served as executive vice president of Terrestrial Systems. Breen currently serves as a director of Comcast Corporation. He also serves as a member of the advisory board of New Mountain Capital LLC, a private equity firm. Breen has been awarded numerous governance awards including being named one of the "100 Most Influential People in Business Ethics" by Ethisphere.

https://www.cnbc.com/2014/06/19/midday-movers-coach-kroger-markit-more.html

TEL

TE Connectivity

Midday movers: Coach, Kroger, Markit & More

A trader works on the floor of the New York Stock Exchange. Barrick Gold - The miner and others including Newmont Mining , AngloGold Ashanti and Yamana Gold surged as gold had its best day in over a month. Ballard Power Systems - The provider of fuel cells gained following it said it had signed an agreement with China's Azure Hydrogen to provide telecom backup systems in China. Ardelyx - The biotechnology company rose in its market debut after pricing 4.3 million shares at $15 a piece. Take a look at some of Thursday's midday movers: Celgene - The biopharmaceutical company rose after shareholders approved a 2-for-1 stock split, effective June 25. Coach - The provider of upscale handbags dropped after it forecast a revenue decline in fiscal 2015. General Electric - The conglomerate edged lower after revising its offer for the power assets of France's Alstom. Harley-Davidson - The motorcycle maker climbed on news it would unveil an electric motorcycle next week. KBR - The engineering and construction company fell after reporting first-quarter results below expectations. Kroger - The supermarket chain rose after posting better-than-expected first-quarter profit. Markit - The provider of financial information jumped in its market debut after pricing 53.5 million shares at $24 a share. Measurement Specialties - The sensor maker gained after Swiss electronics company TE Connectivity said it would acquire the company for about $1.7 billion, including debt. Monster Beverage - The energy drink provider jumped after Wells Fargo began coverage with an outperform rating and $80 price target. Netflix - The streaming video company fell after signing a deal with comedian Chelsea Handler to create a talk show that will debut in early 2016. Rite Aid - The drugstore operator fell after missing first-quarter earnings estimates by a penny. Timken - The ball bearings maker raised its full-year earnings forecast on increased demand. (Read More: ) —By CNBC's Rich Fisherman. Questions? Comments? Email us at marketinsider@cnbc.com

https://www.cnbc.com/2014/04/23/early-movers-before-the-bell.html

TEL

TE Connectivity

Early movers: PG, BA, T, DAL, YUM, TM, SKX & more

Traders on the floor of the New York Stock Exchange. Boeing–The aerospace giant for the first quarter, 20 cents above estimates, with revenue also beating consensus. Boeing saw an improvement in profit margins on the commercial side, and also raised its earnings forecast for the full year. Dow Chemical – Dow earned 79 cents per share for the first quarter, eight cents above estimates, with revenue falling a bit short of consensus. CEO Andrew Liveris told CNBC that "self-help" programs have streamlined operations and increased profit margins. Procter & Gamble –The consumer products company earned $1.04 per share for its third quarter, three cents above estimates, though revenue was slightly short. P&G's results were helped by a drop in overhead costs, though P&G did cut its growth targets for the year. Check out which companies are making headlines before the bell: Delta Air Lines –The airline earned 33 cents per share, excluding certain items, for the first quarter, four cents above estimates. Delta canceled more than 17,000 flights during the quarter, resulting in $90 million in lost revenue. TE Connectivity –The company formerly known as Tyco Electronics reported second quarter profit of 95 cents per share, excluding certain items, four cents above estimates. Its results were aided by higher profit margins, and stronger sales in its transportation and industrial segments. Thermo Fisher Scientific –The maker of lab equipment earned first quarter profit of $1.53 per share, 13 cents above estimates. Revenue also beat Street consensus, thanks to acquisitions and growth in Thermo Fisher's other businesses. Johnson Controls–The maker of automotive controls fell a penny shy of estimates with second quarter profit of 64 cents per share, though its quarterly profit was 59 percent higher than a year earlier. AT&T –The telecom giant reported first quarter profit of 71 cents per share, beating estimates by a penny. Revenue got a boost from new pricing for wireless handsets, and the company also added a greater number of wireless subscribers than analysts had predicted. Amgen –Amgen fell seven cents short of forecasts with first quarter profit of $1.87 per share, excluding certain items. Revenue also fell short of consensus for the biotech company, as sales of key products like Enbrel were weaker than expected. Yum Brands –The parent of KFC, Pizza Hut, and Taco Bell registered a two cent beat with first quarter profit of 87 cents per share, excluding certain items. The restaurant chain's closely watched China sales rose 9 percent at stores open at least a year. Intuitive Surgical –The company reported first quarter profit of $1.13 per share, well short of estimates of $3.28, with revenue falling short as well. The medical products maker cites significant declines in sales of its da Vinci robotic surgery devices. Skechers –The footwear company swamped estimates by reporting first quarter profit of 61 cents per share, compared to forecasts of 33 cents. Revenue was also well above expectations, as sales were strong both in the U.S. and abroad. VMWare –The software company reported first quarter profit of 80 cents per share, excluding certain items, one cent above estimates. VMW was able to attract more customers for its cloud services. Plug Power –Plug is planning a secondary stock offering to raise capital, although the fuel cell technology company said the exact amount would depend on market conditions. Sarepta Therapeutics –The drug maker also announced a secondary offering, planning to raise as much as $100 million. Underwriters will have a 30-day option to buy as much as $15 million more in shares. Illumina –The company reported first quarter profit of 53 cents per share, nine cents above estimates, with revenue and its full-year forecast also above Street consensus. Chief executive officer Jay Flatley said customers are responding well to the company's new gene sequencing products. Toyota –The automaker beat out General Motors in first quarter global sales, compared to 2.42 million for GM and 2.4 million for Volkswagen. —By CNBC's Peter Schacknow Questions? Comments? Email us at marketinsider@cnbc.com

https://www.cnbc.com/2018/01/12/loreal-ceo-jean-paul-agon-on-the-beauty-industrys-outlook-and-rise-of-digitalization.html

TDY

Teledyne Technologies

L’Oreal CEO: Beauty’s future will be more about technology, quality, formulation and individualization

It's fair to say that digitalization has shaken up industries across the globe as of late. The technological age brings both advantages and disadvantages, whether that is concerns over automation or the shift of consumer spending to different sectors — it's a movement that's keeping business leaders on their toes. Chief executive of cosmetics giant L'Oreal Jean-Paul Agon welcomes digitalization with open arms, telling CNBC that he remains optimistic on what technology can bring. When it comes to predicting where the future of the beauty industry is going however, Agon admits that it's difficult to know specifically what's coming, yet in any case, he wants L'Oreal to stay informed and ahead of the curve. "We really believe at L'Oreal in science and technology," the CEO and chairman told CNBC, explaining how the cosmetics giant is currently spending a considerable amount of money on research and development. "I think the future of beauty will be more and more about technology, about quality, about formulation, about individualization, about digitalization, about responding to specific needs." Jean-Paul Agon, chief executive officer of L’Oreal SA Dhiraj Singh | Bloomberg | Getty Images Speaking on an episode of "The CNBC Conversation", the chief executive explained how the company had transformed over the past five to 10 years, when it comes to digital. According to Agon, L'Oreal was "the first in 2010 to perceive the digital tsunami" that would transform the beauty industry. "We have moved very fast, transformed the company very fast. We are considered today as the most advanced, digitally advanced company in the beauty industry and we want to keep this advantage," Agon said, adding that the cosmetics group was "working on all fronts" to maintain its speed. Commenting on two specific developments, L'Oreal's boss discussed how consumers were becoming more interested in products containing natural ingredients, in addition to the rise of personalization. "We are even launching some new products that are, I would say, almost 100 percent natural. Natural ingredients, natural formula, has biodegradability, recycling and recycled packaging," Agon explained. When it comes to personalization and digitalization, not only has the group acquired a number of brands to expand its portfolio in international markets, L'Oreal has also showcased a number of products that are customized to consumers' tastes. I think that we're entering into a new world and it's going to be fascinating. Jean-Paul Agon L'Oreal CEO and chairman At the 2017 Viva Technology conference, L'Oreal unveiled Lancôme's Le Teint Particulier custom made foundation, technology which "precisely matches" the make-up to a person's skin tone. The French corporate also showed off the world's "first" smart hairbrush, the Kérastase Hair Coach. L'Oreal recently introduced Makeup Genius, a virtual makeup tester app as well. And it's not the only one seeing these topics as popular trends to look out for. In Mintel's "Global Beauty and Personal Care Trends 2018" report, the market researcher pinpointed a number of subjects that would end up having an impact on the industry going forward. "The beauty and personal care market will experience a fundamental shift during 2018," said Vivienne Rudd, director of global innovation and insight for beauty and personal care at Mintel, in a statement published in November. "In the coming year and beyond, the beauty industry will navigate the conflicting demands of the 'naturals-hungry' consumer with shrinking natural resources and it will be through harnessing biotech advantages that a new generation of enhanced natural products is created."

https://www.cnbc.com/id/32187137

TDY

Teledyne Technologies

Lightning Round: Mosaic, RF Micro, Genzyme and More

Teledyne Technologies : Cramer is bullish on TDY. RF Micro Devices : Cramer endorsed buying RF Micro as a play on mobile Internet. He said the stock is going “much higher.” Genzyme : Go with Gilead Sciences instead, Cramer said, or Celgene on a pullback. Canadian National : Cramer is bullish on the CNI and the rails. Smith Micro : This is another mobile-Internet play that Cramer likes. Buy SMSI. Cramer's charitable trust owns Gilead Sciences. Call Cramer: 1-800-743-CNBC Questions for Cramer? madmoney@cnbc.com Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

https://www.cnbc.com/2019/01/10/elon-musk-tweet-future-tesla-roadster-will-fly-thanks-to-spacex-tech.html

TDY

Teledyne Technologies

Elon Musk tweet: Future Tesla Roadster will fly thanks to SpaceX tech

To-do list, if you are Elon Musk: Replace petroleum-powered cars with electric Teslas. Build a city on Mars with SpaceX. Construct tunnels under Los Angeles to alleviate traffic congestion with The Boring Company. Connect the human brain to computers via Neuralink. And now there's another to-do: Build flying Roadsters with rocket technology. So says the billionaire tech CEO via Twitter. On Wednesday, Musk tweeted a GIF of a car levitating, with blue light shooting from its wheels. With the animation he wrote, "the new Roadster will actually do something like this." The Roadster is Tesla's highest end supercar, with prices starting at $200,000, according to the Tesla website. The new Roadster will actually do something like this Technology YouTuber Marques Brownlee responded, "The thing is I feel like you're not joking." To which Musk replied, "I'm not. Will use SpaceX cold gas thruster system with ultra high pressure air in a composite over-wrapped pressure vessel in place of the 2 rear seats." I'm not. Will use SpaceX cold gas thruster system with ultra high pressure air in a composite over-wrapped pressure vessel in place of the 2 rear seats. A Tesla with rocket technology would also be able to accelerate very quickly, according to Musk. "You can basically accelerate at the limit of human endurance," he says. Plus, you can basically accelerate at the limit of human endurance Tesla has nothing to add to Musk's tweet, a spokesperson for Tesla tells CNBC Make It. But this is not the first time Musk has talked about flying Teslas. In 2017, Musk teased the possibility. "Not saying the next gen Roadster special upgrade package *will* definitely enable it to fly short hops, but maybe … Certainly possible. Just a question of safety. Rocket tech applied to a car opens up revolutionary possibilities," he tweeted that November. Musk is not alone in his pursuit of flying vehicles. Google co-founder Larry Page is also pursuing flying cars with Kitty Hawk, in which he is an investor. In February, Kitty Hawk CEO Sebastian Thrun told CNBC that flying cars could be in the air within five years. A flying car, reviewed: We test the Kitty Hawk Flyer—the kind of electric vertical-takeoff-and-landing vehicle that could soon fill the skies "The reality is if you look at transportation as a whole, most of it stays on the ground. And the ground is very capacity limited… when you go in the air, the air is mostly free. And you are now at a point where we can make air-based transportation, like daily transpiration, safer, faster and also more cheaper actually, environmentally friendly, than on the ground," Thrun told CNBC at the World Government Summit in Dubai. What are you up to today? However, Musk's own The Boring Company, which is currently digging tunnels under Los Angeles, communicates skepticism: "To alleviate traffic...[o]ne option is to 'go up' with flying cars. However, flying cars have issues with weather, noise, and generally increase anxiety levels of those below them," the company's website says. See also: Flying cars will be in the air within five years, CEO of Larry Page-backed firm says Elon Musk teases flying cars: 'Rocket tech applied to a car opens up revolutionary possibilities' Larry Page's newest flying car is fit for one and operated by joystick

https://www.cnbc.com/2017/03/14/bill-gates-main-use-for-technology-is-surprisingly-old-school.html

TDY

Teledyne Technologies

Bill Gates' main use for technology is surprisingly old-school—and everyone can learn from it

From artificial intelligence and virtual reality to gadgets that simply make life more convenient, technology can do some amazing things. But tech titan Bill Gates' main use for technology is surprisingly old-school: "One of my favorite ways to use technology is to learn," he tells Axios in a recent interview. "It's not really cutting-edge anymore, but I still think it's mind-blowing that you can learn about any subject online through education courses and videos. … Some of the work we do at the [Bill & Melinda Gates] Foundation involves advanced science, like coming up with new vaccines or health interventions, so I use technology a lot to watch lectures and learn from experts."

https://www.cnbc.com/2016/11/02/this-bracelet-uses-russian-cosmonaut-technology-to-help-reduce-stress-through-breathing.html

TDY

Teledyne Technologies

This bracelet uses Russian cosmonaut technology to help you reduce your stress

Nora Levinson is a mechanical engineer who lived and worked in China for about five years helping consumer brands including Jawbone, Skullcandy, and Incase design and manufacture their products. It was stressful. Really stressful. She was almost always working. And so when Levinson watched the first generation of wearable technology come into the marketplace, all largely designed to count steps and track various fitness metrics, she didn't see what she was looking for. She wanted a product that would help her deal with her elevated levels of work-induced anxiety. Moderating "stress was definitely a very personal need for me," says Levinson, in a conversation with CNBC. "Living and working in China before I moved back to the states, it was a 24-7, always on at the factory, and that was something that I struggled a lot with." She and her then colleague and now co-founder, David Watkins, decided to build the wearable they wanted. Called the Sona, the stylish bracelet has an accurate heart-rate monitor built in. The accompanying iPhone app takes users through paced breathing and meditation exercises, and measures their ability to calm their heart-rates and stress levels in real time. It's designed to help keep the type-A, productivity-obsessed mind from wandering. Sitting in a quiet space and trying to find zen on command can be a real challenge for modern workers. "All of a sudden, your to-do list comes up, you start thinking about all the emails you have to answer," says Levinson. "This is a very focused technique to learn and had very quantifiable feedback in the moment as well as, over time, to show progress." Levinson has been able to significantly improve her own ability to focus by using the bracelet and learning how to use her breath to control her heart rate. When she first starting wearing the Sona bracelet, she could only focus at about a level "20," as measured by the app. Now she can pretty consistently get up to a level of focus measured at "70 or 80." The Sona bracelet. Courtesy of Caeden Learning to control stress through breathing has made it easier for Levinson to make decisions efficiently. "[If] I am in a stressful meeting or there are a lot of opinions, I can navigate that in a way that is very calm and rational. It is easier to concentrate as well without getting distracted or anxiety about other things I need to work on," says Levinson. "I can definitely count myself as someone who is a poster child for someone who has been rehabilitated." The path to breath control by way of the Russian cosmonaut program Levinson and Watkins's first company together, ADOPTED, manufactures luxury cases and accessories. In 2014, they founded Caeden, the New York City-based company that manufactures the Sona bracelet. Their first product on the market was a stylish set of headphones called the Linea. When the pair decided to start thinking about a wearable device that would help them manage stress, Levinson started reading research papers voraciously. One pair of names kept coming up over and over again: a husband and wife team Dr. Evgeny Vaschillo and Dr. Bronya Vaschillo. Levinson reached out to the Vaschillos who, it turned out, were working at Rutgers University, very close to New York City. They met and started what would turn out to be the collaborative partnership to launch Sona. Dr. Evgeny Vaschillo was a leader within the Saint Petersburg Board of Public Health through the 1960s and 1970s and Dr. Bronya Vaschillo is a physician. The Sona bracelet has a hyper-sensitive heart rate monitor. Courtesy of Caeden Dr. Evgeny Vaschillo spent decades researching heart rate variability, which is the time in between the beats of your heart. The pace of your breath in and out directs the speed of your heartbeat, so by controlling your breath, you can control the speed of your heart and therefore affect your body's response to stress. Vaschillo researched the science of heart-rate variability on behalf of Russia as a way to monitor the stress levels of cosmonauts, since their EKG reports were sent down from space. The heart-rate variability research developed for the cosmonauts was eventually used in military applications by fighter pilots and submarine pilots. It was also eventually used as a stress reduction and recovery mechanism by the Russian Olympics team. To be sure, there is no way to avoid stress. Whether you are under a tight deadline at work or running away from a predator, the body will get stressed. That's normal. The problem, explains Levinson, is in remaining in a state of high stress for prolonged periods of time. That will do damage to your body on a physical level. Confronting wearable fatigue Levinson is aware that she is getting into a crowded space and coming up against some consumer fatigue. Who wants another wearable device that only sort of works and will eventually end up in a junk drawer when it gets dusty? Do anyone really need another app on their phone that gives more data that they don't know what to do with? But to hear her tell it, for the wearables industry, 2016 is still early days. And while the novelty factor of getting a piece of wearable tech may have faded, there is still excitement for wearables that make a real difference in a user's quality of life.

https://www.cnbc.com/2018/05/30/facebook-ceo-mark-zuckerberg-defends-teslas-elon-musk-on-car-tech.html

TDY

Teledyne Technologies

Mark Zuckerberg comes to Elon Musk's defense on self-driving car technology

Mark Zuckerberg and Elon Musk have a testy history of disagreeing about the potential for artificial intelligence, with Zuckerberg as the optimist and Musk as the prophet of doom. But on Thursday in Paris at the Viva Technology conference, Zuckerberg ducked an opportunity to disagree with the Tesla and SpaceX boss, instead focusing on an area where the two tech titans have similar perspectives. "I actually think that recently, I have heard Elon making a lot of the same points on this that I have been trying to make for a long time," says Zuckerberg, responding to a question about Musk's vocal skepticism about the future of AI. "He has had a number of real incidents around car accidents. And he has had to deal with this issue, where you have a lot of AI critics who come out and say, 'Hey, is this too dangerous?'" says Zuckerberg. "And I think he is making a point that I really agree with on this, which is that, look, over the long term, if we can get to a state where we have good self-driving cars — you know, one of the leading causes of people dying is car accidents — and if we can get to a state where we have good self-driving cars, then that is going to potentially massively reduce one of the leading causes of death and is a very important humanitarian thing that needs to done," Zuckerberg says. Indeed, in May, the driver of a Tesla Model S had the car's semi-autonomous Autopilot mode engaged when she slammed in to the back of a fire truck in suburban Salt Lake City. The driver broke her foot. And in March, a Tesla Model X that was involved in a fatal car accident near Mountain View, Calif., had its Autopilot system activated. In fact Tuesday, days after Zuckerberg commented, a Tesla sedan in Autopilot mode crashed into a parked police cruiser in Laguna Beach, California. The Tesla driver "suffered minor injuries," according to a report from the Associated Press. And May 2018 report from the U.S. Department of Transportation National Highway Traffic Safety Administration projects that 37,150 people died in traffic crashes in 2017. (This projection is set to be revised as data continues to become available, the NHTSA says.) Facebook chief Zuckerberg did not specify which of Musk's comments he was referring to, but Musk recently tweeted his frustration with the media coverage of the Salt Lake City accident. It's super messed up that a Tesla crash resulting in a broken ankle is front page news and the ~40,000 people who died in US auto accidents alone in past year get almost no coverage What's actually amazing about this accident is that a Model S hit a fire truck at 60mph and the driver only broke an ankle. An impact at that speed usually results in severe injury or death. Musk acknowledged his Autopilot system needs to be improved, but he said using the system was safer than not. It certainly needs to be better & we work to improve it every day, but perfect is enemy of good. A system that, on balance, saves lives & reduces injuries should be released. It seemed to be that sentiment Zuckerberg was defending in Paris. "Now, are there going to be issues along the way? Of course there are. No technology comes out fully formed and we need the pioneers to be able to go work on this and take the issue seriously in order to be able to make forward progress and get to the state that we want," says Zuckerberg. "But the point that I have heard him make recently, which I really agree with and I have been trying to make for a while, is that we need to make sure that we don't get too negative on this stuff, because it is too easy for people to point to an individual failure of technology and try to use that as an argument to slow down progress." Zuckerberg says those who protest the implementation of artificial intelligence because of individual incidents during the developmental phase are getting in the way of important advancements. "Fundamentally, I just think AI is going to unlock so much good around helping to cure diseases, to keep people safe, to keep our communities safe. And I do think that if you want to be out there saying that we need to slow down progress on this, then I think if you are doing that, you need to own some of the responsibility that every day that goes by that we don't have cures for those diseases, or safer self-driving cars, you know, I don't know that that is necessarily doing the world a service," says Zuckerberg. "That's my own personal stance. I am very optimistic on this, but we need to take the issue seriously which I do think the industry is and make sure that we move forward towards this greater good." Zuckerberg's careful move to find common ground with Musk contrasts sharply with his language about Musk last summer. In July 2017, Zuckerberg hosted a Facebook live one Sunday afternoon while he was smoking meat in his backyard in Palo Alto, California. A user submitted a question, which Zuckerberg read out loud: "I watched a recent interview with Elon Musk and his largest fear for future was AI. What are your thoughts on AI and how it could affect the world?" Musk, earlier that month, had said that AI will cause massive job disruption, that robots "will be able to do everything better than us." He also said: "I have exposure to the most cutting edge AI, and I think people should be really concerned by it. AI is a fundamental risk to the existence of human civilization." To that negative perspective, Zuckerberg had harsh words. "I have pretty strong opinions on this. I am optimistic," says Zuckerberg. "I think you can build things and the world gets better. But with AI especially, I am really optimistic. "And I think people who are naysayers and try to drum up these doomsday scenarios — I just, I don't understand it. It's really negative and in some ways I actually think it is pretty irresponsible," Zuckerberg said at the time. At the time, Musk clapped back, undercutting the Facebook chief's understanding of the full potential of artificial intelligence. "I've talked to Mark about this. His understanding of the subject is limited," Musk tweeted at the time. See also:

https://www.cnbc.com/id/47600964

TDY

Teledyne Technologies

Stocks to Watch: CHK, FB, VRTX & More

Vail Resorts rose after a Stifel Nicolaus analyst raised his rating on the stock to "buy" from "hold" and set a $53 a share price target, saying its recent dip offers investors a chance to buy it up ahead of the next ski season. Coal stocks moved higher, including Peabody Energy ,Consol Energy ,AlphaNatural Resources ,Walter Energy and Cliffs Natural Resources after Goldman Sachs raised its coverage view for the sector to "attractive" after a recent pullback in coal prices. Chesapeake Energy jumped after the head of New York’s state pension fund urged shareholders to withhold votes to re-elect two members of the company’s board. On Friday, activist investor Carl Icahn disclosed he had taken a 7.6 percent stake in the company. IBM and Caterpillar surged after reports the Chinese may unleash more stimulus. Vertex dropped almost 20 percent, after the drug maker released corrected data involving its cystic fibrosis treatments that lowered the number of patients who showed improved lung function. LeCroy jumped after defense equipment manufacturer Teledyne said it would buy the oscilloscope maker for $240 million in cash, or $14.30 a share. Delta ,United and Southwest Airlines jumped as oil prices turned negative. Questions? Comments? Email us at marketinsider@cnbc.com

https://www.cnbc.com/2017/06/16/how-shark-tank-star-mark-cuban-regulates-his-kids-technology.html

TDY

Teledyne Technologies

How billionaire 'Shark Tank' star Mark Cuban regulates his kids’ use of technology: ‘I'm sneaky as can be’

While billionaire tech entrepreneur and star of ABC's hit show "Shark Tank" Mark Cuban is constantly checking his emails, 16 hours a day, he's much stricter when it comes to his kids' use of technology. That's because, he says, he knows too much. "The more you know about technology, the more experiences you've had, and the more exposures you've had to the pluses and minuses," said Cuban, in a recent conversation with Arianna Huffington on The Thrive Global Podcast. "Obviously, once you see the downside, you try to protect your children from it." Cuban makes his 13-year-old daughter, Alexis, turn in her phone at 10 p.m. during the week and 11 p.m. on weekends. If the teen has a friend over, then Cuban won't make his daughter give up her phone, but he has installed an in-home workaround. "I have installed Cisco routers ... I have management software. So, it says what apps they're using so I can shut off their phone activity," says Cuban. "I'm sneaky as can be. And she hates it. That's the downside of having a geeky dad, you know. I can figure all this stuff out."

https://www.cnbc.com/2017/09/05/elon-musk-governments-will-obtain-ai-tech-at-gunpoint-if-necessary.html

TDY

Teledyne Technologies

Elon Musk: Governments will obtain AI technology 'at gunpoint' if necessary

In his most recent tirade on the existential threat posed by artificial intelligence, billionaire tech titan Elon Musk says governments will use force to get companies to turn over their advanced AI technology. During the course of his Twitter rant, in which Musk claims the global race for artificial intelligence will result in World War III, a follower suggests that the government lags behind and corporations will develop the most threatening arsenal of artificial intelligence. "[Governments] don't need to follow normal laws," he says. "They will obtain AI developed by companies at gunpoint, if necessary," Musk responds.

https://www.cnbc.com/id/41133219

TDY

Teledyne Technologies

Stocks to Rally Near-Term — Invest Here: Strategists

“There’s only about a 20 percent probability that the market can break below 1,280 on the S&P,” Hefty told CNBC. “If we extend that forward, over the next 100 trading days, there’s about a 24 percent average return...so we’re very bullish here on the short-term.” Hefty said he is mostly bullish on agriculture and energy sectors. “On the technical side, that’s where we’re seeing the most momentum being driven to, and on the other side, more fundamental factors are continuing weak dollar policy and global increase in demand,” he explained. In the meantime, Roth said he also likes the agriculturestocks amid soaring food prices. Roth added that he sees stocks moving higher in the next few months. “The market looks similar to what it did last November, when we made new highs," he noted. "[We see an upside of] a 3 to 5 percent looking out in the next couple months.” Roth’s Picks: Bunge Teva Pharma Teledyne Tech. ______________________________ Scorecard—What They Said: Hefty's Previous Appearance on CNBC (Nov. 12, 2010) Roth's Previous Appearance on CNBC (Nov. 9, 2010) ______________________________ More Market Analysis & Opinion: ______________________________ CNBC Data Pages: ______________________________ CNBC Slideshows—Just for Fun: ______________________________ ______________________________ CNBC's Companies in the News: Apple Apple Again Turns to Cook in CEO Jobs' Absence Citigroup Citigroup Posts Profit but Misses Estimates; Shares Drop ______________________________ Disclosures: No immediate information was available for Hefty or Roth. ______________________________ Disclaimer

https://www.cnbc.com/2023/04/08/software-giant-oracle-and-five-consumer-names-are-among-wall-streets-most-overbought-stocks.html

TER

Teradyne

Software giant Oracle and five consumer names are among Wall Street’s most overbought stocks

The market's resiliency in the face of a banking crisis, rising rates and persistent inflation has had an adverse effect: Some individual stocks are in deep overbought territory and could be due for a short-term pullback. The S & P 500 is up 5.4% year to date and roughly 3% over the past month, as investors largely shake off concerns over the U.S. banking system following the collapse of Silicon Valley Bank and Signature Bank. However, there are some stocks that might have overextended themselves, based on their relative strength index levels. A stock is considered overbought if its 14-day RSI goes above 70, meaning investors should consider easing their exposure. Meanwhile, a stock with a 14-day RSI under 30 is considered oversold, meaning it may want more to that name. CNBC Pro screened for S & P 500 stocks in overbought territory, based on their relative strength index. Here are the top 10. Oracle topped the list with a 14-day RSI of 95.6. The software stock has been on fire this year, rising 17.4%. It's also up 51.6% over the past six months, as investors plow back into beaten-down tech names. To be sure, the average analyst price target suggests Oracle may be running steam, as it implies upside of just 3.3% over the next 12 months. On top of that, just 39.4% of analysts covering the stock rate it as buy. ORCL YTD mountain ORCL in 2023 Another stock deep in overbought territory is Hershey , with the chocolate maker's RSI at 90. Hershey shares have outperformed this year, gaining 12.2%. However, just 31.8% of analysts have buy ratings on the stock, and the average price target points to a slight decline going forward. Wells Fargo analyst Chris Carey upgraded Hershey last month to equal weight from underweight, highlighting strong earnings tailwinds heading into 2024 as well as the stock's defensive characteristics. However, he also noted that Hershey's valuation "is peak (absolute and vs Food albeit still below peak vs SPX) and it's not lost on us this market could turn offensive again, with any green shoot on the economy." Other consumer names that made the list are Conagra Brands , Kimberly-Clark , General Mills and McCormick . CNBC Pro also screened for stocks that are oversold. MarketAxess was the only name that met the criteria with a 14-day RSI of 27.1. The stock tumbled 12.3% to start the second quarter, but it's still up 23% year to date. Over the past six months, shares of the electronic trading platform have gained 45.7%. That said, just 7% of analysts covering the stock rate it as buy, and the average price target implies upside of just 3.7%. There are other S & P 500 stocks close to being oversold, including Generac and First Republic . Both stocks have 14-day RSIs of 30.9. Generac shares have struggled in 2023, falling nearly 1%. It has also lost 35% over the past six months. Bank of America analyst Julien Dumoulin-Smith downgraded the stock to underperform from neutral in March. "The weakening consumer and idiosyncratic operational challenges are key drivers of our now more pessimistic outlook," the analyst said. As for First Republic, the regional bank's stock has been volatile in recent weeks on concerns the company could suffer a similar fate to Signature Bank and SVB. Shares have tumbled more than 87% over the past month. FRC 1M mountain FRC this past month Other stocks approaching oversold territory are Charles Schwab , Digital Realty , Applied Materials , AMD , C.H. Robinson , Teradyne and Albemarle . — CNBC's Michael Bloom contributed reporting.

https://www.cnbc.com/2023/02/24/these-highly-rated-stocks-have-big-economic-moats-and-they-are-outpacing-the-market-this-year.html

TER

Teradyne

These highly rated stocks have big economic moats and they are outpacing the market this year

The so-called moat has been a popular factor to pick stocks, touted by none other than Warren Buffett, and these names with a wide moat are outperforming the market this year. Buffett has said the "most important" factor to pick a successful investment is judging the durability of a company's competitive advantage, or "moat." "The most important thing [is] trying to find a business with a wide and long-lasting moat around it … protecting a terrific economic castle with an honest lord in charge of the castle," Buffett said during a Berkshire Hathaway annual shareholder meeting in 1995. CNBC Pro used Morningstar to identify wide moat stocks that are beating the market this year. Morningstar defines these stocks as companies whose competitive advantages are strong enough to fend off competition and earn high returns on capital for 20 years or more. We also screened stocks with a market cap bigger than $500 million and rated 4 or 5 stars by Morningstar. On the top of the list were two big tech stocks — Meta and Salesforce . Meta shares jumped earlier this month after the company reported fourth-quarter revenue that topped estimates and announced a $40 billion stock buyback. Salesforce has attracted activist investor interest from Elliott Management and Starboard Value. The cloud-based software company is in the middle of restructuring amid slowing growth and recession fears. Media giant Disney also appeared on the list as a wide moat stock. Earlier this month, Disney reported fiscal first-quarter earnings that beat on the top and bottom line after CEO Bob Iger returned to the company in November. Disney said it will be reorganizing into three divisions: Entertainment, ESPN and parks and experiences. Disney will slash 7,000 jobs from its workforce and plans to cut $5.5 billion in costs, including $3 billion in content savings. Automation company Teradyne and tech name Transunion were also wide moat stocks, according to Morningstar.

https://www.cnbc.com/2023/02/25/a-tsunami-effect-etf-fund-manager-bets-on-the-robot-boom.html

TER

Teradyne

‘A tsunami effect’: ETF fund manager bets on the robot boom

Artificial intelligence isn't just a hot topic in Hollywood. While horror robot movie "M3gan" racks up millions at the winter box office, the ETF industry is seeing opportunities from the controversial technology. According to ROBO Global CIO William Studebaker, the economic benefits could be staggering. "You're going to see a tsunami effect in terms of prices coming down as a result of deflationary pressures from these technologies," he told CNBC's "ETF Edge" on Wednesday. "It's in industrial manufacturing, health care, AG [agriculture], security and surveillance … and others." Studebaker manages the ROBO Global Robotics and Automation Index ETF, which is up 12% so far this year. The exchange-traded fund's holdings include IPG Photonic, Zebra Technologies, Rockwell Automation and Teradyne. "I have high confidence this is going to be very additive to our economies globally, and importantly, just generating new growth," he added.

https://www.cnbc.com/2020/09/08/tesla-shares-slump-10percent-in-premarket-trading-after-sp-500-snub.html

TER

Teradyne

Tesla rebounds 7% after suffering its worst single-day loss in history

In this article TSLA Follow your favorite stocks CREATE FREE ACCOUNT Elon Musk, CEO of Tesla, stands on the construction site of the Tesla Gigafactory. In Grünheide near Berlin, September 3, 2020. Patrick Pleul | picture alliance | Getty Images Tesla shares rebounded in early trading Wednesday, recovering slightly from Tuesday's steep losses after Elon Musk's electric vehicle maker was left out of the S&P 500 by the committee that decides on new additions to the index. Tesla shares were up about 7% in premarket trading Wednesday after closing down 21.06% a day earlier, making it the worst one-day loss on record. Tuesday's drop brought the company's market valuation down by roughly $82 billion to $307.7 billion. The stock has been on a tear this year, having risen around 300%, and the company is now worth more than some of the world's largest automakers, including Toyota and Volkswagen . On Friday, the S&P 500 Index Committee decided to add e-commerce site Etsy , automatic test equipment maker Teradyne and pharmaceutical firm Catalent to the S&P 500, but stopped short of including Tesla. Some investors had expected Tesla to be included this quarter, after it reported its fourth consecutive quarter of profitability in July. watch now Tesla stock dropped more than 7% after hours on Friday following the news. U.S. markets were closed Monday because of Labor Day. Tesla's move lower Tuesday also follows a major reversal in the big technology stocks last week, amid fears that valuations had reached unsustainable levels. Japanese tech investment juggernaut SoftBank was reportedly the mystery "Nasdaq whale" that bought billions of dollars in call options in Big Tech names, including Tesla, Amazon , Microsoft and Netflix , potentially driving up valuations. SoftBank declined to comment on the reports. Tesla split its stock 5-to-1 at the end of last month, a move that saw its value climb significantly in the run-up despite having no fundamental impact on the stock. But it fell a few days later after Baillie Gifford, its largest outside shareholder, cut its stake in the company. Baillie Gifford said the reduction in ownership was merely down to portfolio restrictions. Tesla said Tuesday it completed its sale of $5 billion in new stock. The firm closed out the sale by Friday, according to a regulatory filing, just three days after announcing plans to sell the additional shares on Sept. 1. Meanwhile, Nikola — an electric vehicle start-up vying to take on Tesla — revealed on Tuesday that General Motors had agreed to take an 11% stake in the firm. As part of the deal, GM will produce Nikola's hydrogen fuel cell electric pickup truck, the Badger, by the end of 2022. Shares of Nikola jumped about 29% in premarket trading while GM jumped 6%.

https://www.cnbc.com/2023/02/12/warren-buffetts-takeover-criteria-10-stocks.html

TER

Teradyne

10 stocks that fit Warren Buffett's takeover criteria

Warren Buffett is fresh off an active year full of deal-making and stock purchases. And with a cash war chest still topping $100 billion, it wouldn't be surprising to see Berkshire Hathaway make another sizable purchase at some point this year. Last year marked a particularly busy one for the 92-year-old investor, who went on a buying spree in finance, energy and technology as stocks sold off. Berkshire agreed to buy insurance company Alleghany for $11.6 billion, Buffett's biggest deal since 2016. The Omaha-based conglomerate also used billions to buy stock in Chevron , Occidental Petroleum and Taiwan Semiconductor . The 2022 stage seemed set for Buffett, who has throughout his storied career waited for a shakeout in valuations before swooping. After all, the S & P 500 suffered its steepest annual decline since 2008 last year amid surging interest, making it an ideal time for the legendary value investor to hunt for bargains. Buffett favors companies with historically low stock prices when compared with earnings, and rock solid cash flows. Until 2017, Buffett had always revealed his acquisition criteria every year in his annual letters to Berkshire shareholders. At the time, he said he typically prefers "large" purchases with pretax profit exceeding $75 million, "consistent earning power" and "good" returns on equity while employing little or no debt. CNBC sought to identify companies that would fit Buffett's acquisition criteria today, and here's a list of qualities we looked at: Annual net income greater than $500 million CAGR (Compound Annual Growth Rate) in net income of at least 10% Debt to equity less than 20% We also excluded companies with a mega market cap as Buffett said in 2014 he would like to make an acquisition in the $5-20 billion range. The largest deal Berkshire did in recent years was the $37 billion purchase of Precision Castparts in 2016. Buffett later admitted that the deal was too expensive and resulted in an "ugly $11 billion write-down." The list from CNBC screen found companies in sectors ranging from health care to technology, from consumer goods to industrials. Monster Beverage checks all the boxes in Buffett's acquisition criteria. The longtime investor tends to prefer companies with a well-established brand name that's long lasting, such as consumer names Berkshire owns outright in Fruit of the Loom and Dairy Queen, as well as a sizeable stake in Coca-Cola . Monster seems right up his alley. Another interesting name that made the cut was Old Dominion Freight Line. Berkshire is no stranger to transportation. Berkshire owns BNSF Railway, the old Burlington Northern Santa Fe that's one of the largest freight railroads in North America. But Buffett's often traded in and out of the sector. Early in the pandemic, Berkshire sold $4 billion worth of four airline stocks , and back in the 1990s it took a big loss on USAir preferred. In 2017, Berkshire bought 39% of Pilot Flying J, the nation's biggest operator of truck stops and travel centers, and the conglomerate is set to increase its ownership in the company. Buffett is known to have a taste for capital intensive businesses like railroads and industrial-products makers. Also on the list were Copart, an online vehicle auction company, Teradyne , an automatic test equipment designer and manufacturer, as well as software name Cadence Design Systems . Berkshire had amassed a cash pile of nearly $109 billion at the end of September, the most recent quarter for which figures are available.

https://www.cnbc.com/2022/09/29/kla-and-more-cnbcs-halftime-report-answers-your-stock-questions.html

TER

Teradyne

KLA Corp, Amazon and more: CNBC's 'Halftime Report' answers your stock questions

On Thursday's "Ask Halftime," our traders answered questions from CNBC Pro subscribers about stocks and ETFs during this market volatility, including whether to buy, sell or hold specific names. Josh Brown of Ritholtz Wealth Management explains why you can hold chipmakers over the long term. He mentions names such as Applied Materials , KLA , Lam Research , and Teradyne . Aureus Asset Management's Karen Firestone says with tech stocks down sharply this year, there could be some cheap buys, like Amazon , which are selling at discounted multiples and lots of room to the upside. Finally, Brenda Vingiello of Sand Hill Global Advisors adds it's very hard to predict oil and gas prices for the next six to nine months. However, she recommends owning stocks in companies that have a lower breakeven points.

https://www.cnbc.com/2022/10/13/what-cramer-is-watching-thursday-hot-inflation-slams-stocks-sends-bond-yields-soaring.html

TER

Teradyne

What Cramer is watching Thursday — hot inflation slams stocks, sends bond yields soaring

What I am looking at Thursday, Oct. 13, 2022 The Investing Club's October "Monthly Meeting" livestream for members is at noon ET. Find the link 15 minutes ahead of time at the top of the CNBC homepage. Too late to sell, or not? We'll explore that question and look ahead to the rest of the year. U.S. stock futures, in a volatile morning, turned sharply lower as bond yields reversed and soared on a hotter-than-expected September consumer inflation reading. It followed Wednesday's report showing a bigger-than-expected gain in producer prices last month. Taken together, the data show the Federal Reserve has more work to do to control inflation. The market firmly expects a fourth straight 75-basis-point interest rate hike when the central bank meets next month. The Social Security cost-of-living increase will be 8.7% for 2023, the highest increase in more than 40 years. The last time it was higher was in 1981, when the increase was 11.2%. Ahead of the consumer price report, stocks in the U.S. premarket had soared earlier on reports that the U.K. government is re-thinking some of its proposed tax cuts that have slammed the pound recently. The U.K. currency surged on the speculation. Goldman Sachs starts Club holding Linde (LIN) with a buy rating and a $338 per share price target. This is an industrial secular grower and there are only a handful including Honeywell (HON), which is also a Club stock. Goldman says industrial gases like the kind U.K.-based Linde provide have a history of defensiveness. Wells Fargo is warming up to metaverse, which is the only shop to do so besides me. Analysts there like what they saw from this week's Meta Connect event. We wrote Wednesday about how Wall Street, for the most part, is ignoring things at Club holding Meta Platforms (META) that can go right. Bernstein says it's a make-or-break quarter for Meta. Bulls are at wits end. "No one uses Facebook anymore," Bernstein says. Adds metaverse a dream. But keeps outperform (buy) rating and $195 per share price target. Credit Suisse cuts Club holding Apple (AAPL) price target to $190 per share from $201. Delta Air Lines (DAL) much better, roughly matching earnings and revenue estimates in the third quarter. Can the multiple expand here? CEO Ed Bastian tells CNBC that even transatlantic is strong: The experiential economy. Sees $1 per share to $1.25 current quarter earnings-per share. Business travel rebound. Everyone I know is traveling, and Bastian goes on to say you better be traveling. Walgreens Boots Alliance (WBA) comes in a little better than expected with its fiscal fourth quarter earnings-per-share and revenue. Sees good next year: EPS of $4.45 to $4.65 versus $4.51 expected. Deutsch Bank cuts its price target on Teradyne (TER), a maker of automated testing equipment for semiconductors, to $85 per share from $95 on waning customer demand and chip export restrictions. TER stock is at $72 so unrealistic PT. It will be like Applied Materials (AMAT). These companies are going to decline drastically as they are the intellectual property behind the best, latest, greatest semis. Macellum Advisors calls for a board refresh for Kohl's (KSS) after a failed sale. Says there's a shadow board of ineffective people who must be removed. Barclays lowers price target on Magellan Midstream (MMP), a provider of the transportation and storage of crude products, to $49 per share from $51. Surprising given the demand for oil. Barclays cuts XPO Logistics (XPO) price target to $65 per share from $75 on weaker logistics. BlackRock (BLK) adjusted third-quarter earnings-per-share $9.55 versus $7.07 expected. This is a huge beat. Revenue of $4.31 billion also beat. Average Q3 assets under management: $8.48 trillion versus $8.32 trillion consensus; lower that Q2's $ 9.02 trillion. Citi downgrades American Express (AXP) to sell from neutral, cuts price target to $130 per share from $159. Citi sees mild recession but significant impact to EPS at Amex; forecasts higher than normal credit losses in 2024. (Jim Cramer's Charitable Trust is long LIN, HON, META and AAPL. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. Jim Cramer on Squawk on the Street, June 30, 2022. Virginia Sherwood | CNBC What I am looking at Thursday, Oct. 13, 2022

https://www.cnbc.com/2019/07/25/chip-stocks-hit-all-time-highbut-they-could-soon-see-a-20-percent-drop.html

TER

Teradyne

The last time chip stocks did this, they dropped nearly 20%

The semi surge could soon hit a wall. Chip stocks reached a new all-time intraday high this week, driving the broader technology sector to fresh highs as well. But with the group now sitting at those inflated levels, market watchers are starting to worry that the rally could run out. "I'm quite conflicted on this one because the fundamental backdrop isn't very good, but there's no question: the fact that the [VanEck Vectors Semiconductor ETF ] has been able to make a new higher high is bullish," Matt Maley, chief market strategist at Miller Tabak, said Wednesday on CNBC's "Trading Nation." However, looking at a 1½-year chart of the VanEck ETF, ticker SMH, the picture didn't look quite as pristine to Maley, who also runs financial blog and newsletter BTFNow.com. "It's running hot. It's overbought," he said, pointing to the SMH's relative strength index. "It's more overbought than it was in April just before it began a 17% correction, and it's more overbought than it was on several other occasions in the last 18 months just before the group rolled over." That calls SMH's recent "higher high" into question, Maley said, adding that it "looks like it's poised to take a little bit of a breather." "However ... if after that breather, or even immediately, the group makes a more substantial higher high, it's definitely going to be bullish for the group," the strategist said. "And, as we learned last year, it was a key leading indicator for a downturn in the fourth quarter and it was a powerful leader in the rally in the first four months of the year. So, whichever way this thing eventually breaks is going to be very, very important for the broad market as well." Gina Sanchez, founder and CEO of Chantico Global, also harbored reservations about the chip stocks, particularly heading into the second half of 2019. "I think that the pop you're seeing really is just because valuations have been so depressed since the U.S.-China clash really started taking hold," she said in the same "Trading Nation" interview. "So, you get a Texas Instruments or a Teradyne outperforming expectations, and bam, the stock breaks out and the whole industry breaks out." But as well as Texas Instruments' and Teradyne's second-quarter earnings reports went over on Wall Street this week, Sanchez said the group's "fundamental headwinds" were still very much in play. "One, you've got a cut in production from China. That should be good, but you have massive oversupply, and that massive oversupply is meeting weakening demand," she warned. "That's really what's going to probably drive lower revenues in the second half of the year. This industry thought it was going to get a second-half bounce; I don't think we're going to see that. And so I think if you see anything, it'll be valuation-driven, but it's going to be capped by the fundamentals." The SMH was down nearly 2% midafternoon Thursday, but has rallied close to 40% year to date. Disclaimer

https://www.cnbc.com/2019/10/11/cramer-lightning-round-mgm-has-spectacular-gambling-sports-plans.html

TER

Teradyne

Cramer's lightning round: MGM's gambling and sports plans are 'spectacular'

Teva Pharmaceutical Industries : "Don't own Teva." MGM Resorts : "That is an incredibly well-run company and they have ambitions for gambling and sports that I think are spectacular." Boot Barn : "Boot Barn is still a buy. I like the stock very much and I think you should just own it and then if it comes in then I think you should buy it, 'cause I like this stock." Teradyne : "It's a really good stock. It's an up stock."

https://www.cnbc.com/2022/06/29/el-dow-sube-modestamente-mientras-wall-street-lucha-por-recuperarse.html

TER

Teradyne

El Dow sube modestamente en operaciones volátiles mientras Wall Street lucha por recuperarse

Traders on the floor of the NYSE, June 29, 2022. Source: NYSE

https://www.cnbc.com/2024/04/08/tesla-settles-wrongful-death-lawsuit-over-fatal-2018-autopilot-crash.html

TSLA

Tesla, Inc.

Tesla settles lawsuit over Autopilot crash that killed Apple engineer

A Tesla Model X burns after crashing on U.S. Highway 101 in Mountain View, California, U.S. on March 23, 2018. Tesla has settled a wrongful death lawsuit brought by the family of Walter Huang, an Apple engineer and father of two who died after his Model X SUV, with Autopilot features switched on, crashed into a highway barrier near Mountain View, California, in 2018. The settlement comes as jury selection and a trial were just beginning on Monday in a California Superior court. The settlement allows Tesla to avoid airing evidence and testimonies in a widely-followed case. The National Transportation Safety Board investigated the fatal crash and revealed, in 2020, that it found Tesla's tech was at least partly to blame for the collision, along with possible driver distraction and problematic road construction. NTSB believed that Huang had been looking at a game on his phone at some point before the collision. The federal agency found that Tesla's forward collision warning system did not provide an alert, and its automatic emergency braking system did not activate as Huang's Model X, with Autopilot engaged, accelerated into a barrier alongside the highway 101. Faded lane markings and the barrier — or crash attenuator — positioning also may have contributed to the collision, the NTSB said in 2020. Huang's bereaved family sued Tesla for wrongful death and their claims focused in part on alleged safety and design defects in the company's driver assistance systems. The case was Sz Huang et al v. Tesla Inc. et al in a California Superior Court in Santa Clara County. Huang attorneys, in court filings, also pointed to social media and marketing messages from Tesla, its CEO Elon Musk and others, suggesting that Autopilot made Tesla vehicles safe to drive without needing to stay attentive to the road at all times or without needing to keep hands on the vehicle's steering wheel. In internal Tesla e-mails referenced in court filings, Tesla execs and engineers discussed how they had become complacent while driving their Tesla vehicles with Autopilot or related premium features switched on. They described reading emails and checking their phones while driving with these systems engaged.

https://www.cnbc.com/2024/04/10/analyst-calls-all-the-market-moving-wall-street-chatter-from-wednesday.html

TSLA

Tesla, Inc.

Wednesday's analyst calls: More Nvidia gains ahead, Tesla 'self-inflicted' wounds

(This is CNBC Pro's live coverage of Wednesday's analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) Nvidia and a major electric vehicle maker were in focus as part of Wednesday's analyst chatter. Morgan Stanley raised its price target on Nvidia, calling for more than 15% upside going forward. Jefferies, meanwhile, cut it 12-month forecast on Tesla. Check out the latest calls and chatter below. All times ET. 8:15 a.m.: Morgan Stanley raises price target on GM, says it could benefit from EV slowdown Morgan Stanley raised its price target on GM to $46 from $43 and said that the current slowdown in EVs could be positive for the auto maker. It has an overweight rating on the shares. Analyst Adam Jonas said a doubling of its full-year restructuring/impairment charges to $3 billion, related to electric and autonomous vehicles should "lower the bar on big investments in EVs that will not deliver on expected volume." The firm also trimmed its capex estimates to the low end of GM's guidance and raised its earnings estimates by 9%. He also noted that although GM has acknowledged the momentum in hybrids, it "virtually gave up on hybrids in its push towards pure [battery electric vehicle] architectures," and "may have to spool up investment in hybrids from here." GM shares were little changed in premarket trading. –Tanaya Macheel 8:14 a.m.: Block shares could rally more than 30%, Mizuho says Mizuho sees more upside in store for shares of Block . Analysts Dan Dolev lifted the firm's price target to $106 from $99, citing the potential for gross profit to exceed 20% in 2024. The updated target implies about 33% upside from Tuesday's close. "Reinvigorated management focus on Cash App and Square ecosystems could potentially drive meaningful upside to 2024 guide," he wrote. "Management guided to 15%+ gross profit growth, but we see potential for > 20%." Underpinning this upside potential is a bet that the company can convert 1 million cash card users to direct deposit and reach higher-income customers. Other critical components include the expansion of the company's Cash App borrow product and a recovery in point-of-sale momentum within the U.S. restaurant industry. "We are raising our estimates to reflect more optimism around SQ's gross profit potential," he wrote, and ahead of the 15% guide and 16% consensus estimate. – Samantha Subin 7:44 a.m.: Truist downgrades Deckers to hold It's time to step to the sidelines on footwear company Deckers Outdoor , according to Truist. Analyst Joseph Civello downgraded Deckers to hold from buy, and lowered his price target, citing card data showing softening demand for the footwear company's popular Hoka brand. On the other hand, the analyst noted trends for UGG shoes remain strong. "Truist Card Data indicates that HOKA's Direct-to-Consumer (DTC) growth decelerated in mid-Feb and remained softer through March. We lowered our segment growth forecast from ~40%E (where the Street currently is) to 25%E," Civello wrote. "Truist Card Data for UGG looks very strong and we are raising ests for the segment." To be sure, the analyst said he remains optimistic over Hoka's long-term potential, but noted the risk/reward for the stock "looks balanced" from here after its outperformance. The stock is up about 30% this year. The analyst's $864 price target, lowered from $983, is just slightly lower from Tuesday's closing price of $867.81. Shares fell 2% in premarket trading. — Sarah Min 7:42 a.m.: Goldman Sachs initiates Alcon at a buy rating, sees 21% upside ahead An attractive valuation and strong growth drivers make Alcon a good investment, according to Goldman Sachs. The bank initiated shares of the contact lens solutions maker at a buy rating. Analyst Richard Felton also set a price target of $100, which corresponds to a 21% rally for the stock. Shares of Alcon are up nearly 6% this year. "We believe current valuation represents an attractive entry point ahead of potential upgrades and an FCF inflection," Felton wrote. The analyst added that additional gains are supported by attractive growth across multiple sectors. "Alcon's core businesses are delivering solid growth, supported by what we see as strong market positions and attractive end markets. We also see multiple opportunities to drive incremental growth," he said. Specifically, Felton highlighted volume-based procurement in the Chinese market as one driver of incremental growth. This could increase both Alcon's procedure volume and current market share. Another factor that has yet to be fully reflected in consensus estimates is the potential for further share gains in Alcon's contact lenses market. "Looking ahead, we see scope for further share gains in Dailies and see upside in reusable lenses, where Alcon's share is relatively underweight," Felton said. Finally, an opportunity also exists within the dry eye category, with Felton predicting a strong growth runway for Alcon's artificial tears brand, as it increases its penetration in the market. — Lisa Kailai Han 7:28 a.m.: Bank of America upgrades Albemarle to buy on the back of increasing lithium prices Improving lithium prices will lift up shares of Albemarle , according to Bank of America. Bank of America analyst Steve Byrne upgraded shares of the chemical manufacturer to a buy rating from neutral. He accompanied the move by lifting the stock's price target to $156 from $137. This updated forecast implies that shares could rise 21%. Albemarle stock is down 11% for the year. One major catalyst that could drive the stock upwards is the improvement in market fundamentals as the prices of lithium rise from here. "Given recent pricing improvement in spodumene and lithium salts, we believe it is likely to see a near-term reduction in lithium inventory levels in China, which would reinforce the upward move in lithium chemical pricing," Byrne wrote. "We have raised our global lithium chemical and spodumene concentrate price expectations." He added that improving lithium prices would also drive Albemarle's near-term and future earnings. — Lisa Kailai Han 7:01 a.m.: Citi upgrades International Flavors & Fragrance to a buy rating International Flavors & Fragrance could rise as the firm re-centers its focus around a new CEO, according to Citi. The bank upgraded shares of the food, beverage and scent manufacturer to a buy rating from neutral. Citi also lifted its price target for the company to $100 from $81, implying that shares could rally nearly 16% from their current price. "Most of the news flow is behind IFF (dividend cut, Pharma business sale), and we see a compelling pathway towards volume recovery and deleveraging, which should drive performance for shares," wrote analyst Patrick Cunningham. The analyst underscored new CEO Erik Fyrwald's focus on sales execution and balance sheet management. Management has also proven its commitment and ability to strengthen the capital structure by reducing debt, the analyst remarked. As another catalyst, he cited the company's potential carry over of 2023's improved volume levels. "The cadence of volume improvements will likely carry through to FY24, with sequential volume growth in Health & Biosciences and Scent in 1H24, based on comments in 4Q23 earnings," Cunningham wrote. "We think the prospects for volume recovery in the industry will be driven by improving prospects for consumer goods companies with some upside potential from restocking." Shares of International Flavors & Fragrance are up nearly 7% this year. — Lisa Kailai Han 6:44 a.m.: Jefferies names Zillow a top pick Jefferies sees a "one in a Zillow opportunity" when it comes to Zillow . The investment firm named Zillow as its new top pick, a designation that was previously rewarded to DoorDash. While shares of the real estate marketplace have already slid 17% this year, Jefferies' price target of $75 means there could be more than 56% upside potential for the stock. Zillow stock has tumbled recently since the National Association of Realtors announced a settlement to potentially lower real estate commission rates on March 15. But Jefferies believes that investors have overestimated the potential drawbacks of the settlement. "As long as buyer agents can see the commission split for a given listing before presenting a buyer, we believe sellers will remain incentivized to offer compensation," wrote analyst John Colantuoni. "The pullback in Z's stock following NAR's proposed settlement creates a more attractive entry point given we expect no impact on fundamentals." Additionally, Colantuoni also believes that Zillow's plans to expand its products and services could lead to revenue upside. Low variable costs should help drive these margins up even higher, increasing Zillow's overall profit-taking. — Lisa Kailai Han 6:26 a.m.: KeyBanc upgrades GoodRx to overweight, sees room for subscription growth KeyBanc Capital Markets sees an increasing subscriber base propelling GoodRx's stock in the future. The firm upgraded shares of the telemedicine company to overweight from sector weight. The bank also lifted its price target to $9, implying shares could rally 34% from Tuesday's close. "We are upgrading shares of GDRX to Overweight as we get more constructive for this re-accelerating high-growth, high-margin company trading at a discount to peers and historical average given positive recent data trends," wrote analyst Scott Schoenhaus. Besides increased estimates, Schoenhaus also listed increased app downloads and monthly active customers as additional catalysts. Downloads of the GoodRx app accelerated in February and have proved to hold up in March as well, despite a more challenging backdrop. Additionally, the analyst noted a 2% increase in GoodRx's gold subscription customers from February to March. With the new Publix membership rollout unveiling GoodRx's gold membership across 1,200 locations, even more unique customers could be subscribed to the program going forward. "Our favorite names into 1Q earnings are CERT, GDRX, PHR, and SDGR, where we see the biggest opportunities for beat-and-raises this quarter and throughout the year, and we support our thesis with data in the following pages." GoodRX shares have struggled this year, rising less than 1%. GDRX YTD mountain GDRX in 2024 — Lisa Kailai Han 6 a.m.: Barclays views Chevron stock as attractive both with or without Hess deal Barclays sees a bright future ahead for Chevron . The bank initiated coverage of the oil and gas giant at overweight, setting a price target of $203. This implies that Chevron could soar another 25%. Year to date, the stock is up 9%. Analyst Betty Jiang thinks Chevron looks attractive, both with or without its potential acquisition of fellow energy company Hess . "After a period of challenging mega-project developments over the last decade, CVX is finally shifting into a development that's lower capital intensity, lower execution risk, and more flexible short-cycle production," she wrote. Meanwhile, Chevron has also managed to finetune a balanced portfolio, consisting of both long- and short-cycle assets, which helps mitigate potential base production decline, Jiang said. Additionally, she sees Chevron's potential cash return of over 10% post-Hess deal as another catalyst. "We believe CVX offers outsized cash return (second highest in our coverage universe), free cash flow inflection from start-up of the TCO expansion, and a high return legacy position in the Permian," she added. As an added bonus, Chevron is also actively contributing to the renewable energy transition. Jiang also viewed possible upcoming asset sales as another catalyst for the energy firm. — Lisa Kailai Han 5:53 a.m.: Jefferies lowers Tesla price target, cites 'self-inflicted' wounds Tesla's troubles may not be over yet, according to Jefferies. The investment firm kept its hold rating on the electric vehicle maker and lowered its price target to $165 from $185. The new forecast implies shares could slide nearly 7% from Tuesday's close. Tesla has already had a tough year, weighed down by waning sales in China and slowing demand for electric vehicles. The stock has lost nearly 29% in 2024, making it one of the worst performers in the S & P 500. Jefferies analyst Philippe Houchois also said Tesla is plagued by shifting product priorities. He cited reports of production of the company's low-cost Model 2 being canceled . "Most issues affecting core auto performance appear self-inflicted and should keep returns well below potential for the coming 24 months," he wrote. — Lisa Kailai Han 5:53 a.m.: Morgan Stanley raises Nvidia price target Nvidia has already rallied more than 72% in 2024. Morgan Stanley sees even more gains ahead. Analyst Joseph Moore raised his price target on the artificial intelligence darling to $1,000 per share from $795. The new forecast points to 17% upside from Tuesday's close. "Preferring NVIDIA seems unimaginative, as it was the best performing stock last year ... and it has risen to market caps that we would have thought of as unfathomable a few quarters ago," Moore wrote. "That said, the peers have not been undiscovered either, with stocks with direct exposure to these markets, such as AMD and MRVL, having risen to new multiple highs." NVDA YTD mountain NVDA year to date The analyst highlighted several factors in favor of Nvidia, including strong pricing and robust orders for its semiconductors. "We expect NVDA's Data Center business to drive much of the growth over the next 5 years, as enthusiasm for generative AI has created a strong environment for AI/ML hardware solutions - NVDA's being one of the most important," Moore wrote. — Fred Imbert

https://www.cnbc.com/2024/04/07/tesla-has-tanked-34percent-this-year-some-investors-doubt-a-recovery-.html

TSLA

Tesla, Inc.

Tesla shares have tanked 34% this year. Investors raise doubts over whether the EV maker will return to form

Tesla 's lost its way. The dominant U.S. manufacturer of electric vehicles once praised as an auto industry innovator has come under mounting pressure in recent months, grappling with growing China competition and waning demand, forcing the Elon Musk-led company to cut prices to lift sales. The issues have rattled investors, dragging down shares by 34% since the start of 2024 and ushering in concerns about Tesla's health and growth potential. The latest U-turn is a sharp reversal after Tesla had soared to a peak market value surpassing $1.2 trillion. Today it's worth about $525 billion. TSLA YTD mountain Tesla shares in 2024 Even the bulls have grown worried, with Morgan Stanley analyst Adam Jonas admitting last week that Tesla's woes could temporarily drive the stock as low as $100 — his worst case scenario. Wedbush's Dan Ives called a first-quarter slump in deliveries an "unmitigated disaster." Wall Street is a lot less optimistic than it was. The number of analysts holding a buy-equivalent rating on Tesla is down to just 33%, versus 53% at the end of March 2023, according to FactSet. "We view this as a seminal moment in the Tesla story for Musk to either turn this around and reverse the black eye 1Q performance," Ives said in a note to clients. "Otherwise, some darker days could clearly be ahead that could disrupt the long-term Tesla narrative," Ives continued. While some investors expect emerging themes such as artificial intelligence, a robotaxi project or autopilot involving full self-driving cars to boost Tesla's long-term growth, even those betting on the stock are braced for a long, bumpy road to recovery. Disappointing investors Tesla's inability to meet estimates and boost demand for its models has spurrred the newfound skepticism. The stock dove 12% one day in January after missing analysts' fourth-quarter estimates and warning of slow growth. It dropped more than 6% last week after reporting those disappointing first-quarter deliveries. "The market's not loving stocks right now that can't beat earnings," said Michael Sansoterra, chief investment officer at Silvant Capital Management. "Unfortunately, [Tesla's] life cycle in this particular moment, and what the market is willing to pay for, are at odds." He attributed Tesla's recent quarterly shortfalls to deteriorating profit margins owing to price cuts used to stir demand. CapWealth chief investment officer Tim Pagliara thinks investors and Wall Street baked in "unrealistic expectations" into Tesla's valuation, with a far higher multiple than incumbent manufacturers such as General Motors, Ford and Toyota. To be sure, Tesla isn't alone in its recent distress as enthusiasm for EVs has waned, partly due to a newfound love affair with hybrid vehicles instead. The EV market has suffered in recent months as companies such as Ford have been forced to rethink plans , citing the industry's higher costs relative to internal combustion engine vehicles. The industry's also been stalled by the need for hefty investments in infrastructure, such as charging stations, and technological advancements in battery storage, size and capacity, Sansoterra explained. "It's not done, it's not mature," the Silvant Capital manager said. "It's still a growing industry that's got a ways to go if you think back to the [personal computer] days." Looking beyond electric vehicles Other investors are holding out hope for Tesla, viewing ventures beyond its bread-and-butter auto business as key to the company's recovery. During an interview with CNBC's Andrew Ross Sorkin this week, Ark Investment Management CEO Cathie Wood said Tesla shares could hit $2,000 over the next five years as artificial intelligence, robotics and energy storage themes play out. The comments from Wood came one day after her firm purchased nearly $40 million worth of Tesla shares. "This reminds me very much of 2018-19," she said. "We're in a bit of a trading range, and we will be until more and more analysts and investors understand how provocative the convergence of these three technologies is going to be." Wood isn't alone in backing Tesla. Altimeter Capital's Brad Gerstner revealed last month a fresh bet on the EV maker , citing its future artificial intelligence prospects and saying the stock already reflects investor bearishness. While the stock will be volatile, he argued that backing Elon Musk and AI was a "no-brainer." A lack of investor understanding of the value of these alternative businesses and their future contribution to Tesla profits is plaguing Tesla shares, according to Corestone Capital's Will McDonough. TSLA 1Y mountain Tesla shares over the last year "Valuing Tesla as a car company is akin to valuing Amazon as a book sale company," the investor said. "You're just not seeing the full picture here." But even those bullish on the stock's long-term potential expect a rough patch ahead. "There are definitely concerns in the marketplace around demand" for Tesla vehicles, said Robert W. Baird senior research analyst Ben Kallo. "Some investors are willing to look out [farther] … but there are still the near-term worries. We're in for a choppy quarter or two more." Tesla is due to report first-quarter financial results in less than three weeks, on April 23.

https://www.cnbc.com/2024/04/09/analysts-on-tuesday-say-buy-stocks-ranging-from-apple-to-cisco-to-tesla.html

TSLA

Tesla, Inc.

Here are Tuesday's biggest analyst calls: Nvidia, Apple, Tesla, Netflix, Cisco, Alphabet, American Eagle & more

Here are the biggest calls on Wall Street on Tuesday: Morgan Stanley resumes Cisco as overweight Morgan Stanley said it sees "double digit overall shareholder return potential." " Cisco is trading at / near record discount to S & P despite CIO survey noting healthy growth environment for networking once we get past inventory digestion." Raymond James initiates Permian Resources as buy Raymond James said the Permian Basin oil and gas company is well positioned. "Based in Midland, Texas , Permian Resources was formed in late FY22 as a merger of equals between privately-backed Colgate Energy and public Centennial Resource Development." Goldman Sachs reiterates Tesla as neutral Goldman lowered its price target on the EV maker to $175 per share from $190. "Lowering Tesla estimates post weaker 1Q24 deliveries, and to better reflect market condition." Bank of America upgrades Infosys to buy from neutral Bank of America said in its upgrade of Infosys that it sees a demand recovery for the IT consulting company. "Stock's underperformance over last two years makes its valuation sensitive to such growth prospects. FY25 earnings outlook are also close to a floor level." Barclays downgrades American Express to equal weight from overweight Barclays sees "limited upside" on valuation for the stock. "Downgrade AXP to EW; see limited upside on valuation and EPS revisions." BMO upgrades Chemours to outperform from market perform BMO said in its upgrade of Chemours that the chemical maker has underappreciated long-term growth. "Upgrading to OP as 2024 to Improve Through Year and [Long Term] Growth Under-Appreciated." Wells Fargo upgrades Digital Realty Trust to overweight from equal weight Wells Fargo sees numerous catalysts ahead for the real estate investment trust. "We are upgrading DLR to Overweight (from Equal Weight) and raising our PT to $155 ($135 prior)." Compass Point downgrades Wells Fargo to neutral from buy Compass sees a more balanced risk/reward for shares of Wells Fargo. "We see greater risk to the achievement of our price target as the Fed rate cutting cycle begins, and note the expected return to our price target reflects a lower expected return vs. that which we expect for our Buy-rated names." Morgan Stanley upgrades Nasdaq and LPL Financial to overweight from equal weight Morgan Stanley sees "better growth prospects" for both stocks. Nasdaq is its top pick. "Better Growth Prospects Lead Us to Upgrade NDAQ, LPLA to OW." Jefferies initiates TE Connectivity at buy Jefferies likes the company's exposure to Chinese automakers. "TE Connectivity has the leading share in the global connector market with leverage to secular growth from the 'electrification' of end markets, especially in automotive." RBC upgrades First Horizon to outperform from sector perform RBC said in its upgrade of the regional bank that it likes the long-term strategy at First Horizon. "We are gaining confidence in management's longer-term strategy, and encouraged by the favorable near-to-medium term fundamental outlook supported by solid balance sheet growth, positive revenue trajectory, reasonable expense trends and manageable credit outlook." Goldman Sachs upgrades Molson Coors to buy from neutral Goldman said in its upgrade of the brewer that it sees strengthening share gains. "We upgrade TAP to a Buy rating as we now see a positive risk/reward given: Distributors expect TAP to be a big winner of spring shelf resets, gaining an incremental + [mid single digit percentage] of shelf space on average." Wells Fargo initiates Monday.com as overweight Wells said the project management software company offers "attractive growth." "With a leading work mgmt platform, powered by a proprietary architecture, our work suggests MNDY has multiple attractive growth levers, inc[luding] up-market progress & new product cycles, to maintain outsized growth/margin expansion." Wells Fargo initiates GitLab as overweight Wells sees the software company's stock at an attractive entry point. "With shares -21% off since 4Q EPS, the FY25 model now more conservatively set, and an AI-led product cycle taking shape, we see an opportunistic entry for GTLB shares." Rosenblatt initiates TeraWulf at buy Rosenblatt said in its initiation of the bitcoin miner that it's the "preferred way to allocate to Bitcoin below spot prices." "We initiate coverage of WULF with a Buy rating and $4.20 price target." TD Cowen reiterates Alphabet at outperform TD raised its price target on the Google and YouTube parent to $170 per share from $165. "Our 1Q Digital ad expert check call on 4/8 suggests that GOOG Search spend growth remained strong in 1Q24, implying a resilient U.S. consumer." William Blair initiates Tradeweb Markets at outperform William Blair said the electronic marketplace is a market leader. " Tradeweb is a leading global operator of electronic marketplaces, with a focus on fixed income." TD Cowen upgrades GE Aerospace to outperform from market perform TD Cowen said in its upgrade of the jet engine stock that it has "extended visibility." "We are upgrading our rating on GE Aerospace (GE), formerly General Electric Company, following the spin off of its power & renewables assets (GE Vernova)." Bank of America reiterates Apple as buy Bank of America said its survey checks show App Store growth increasing. "Our Buy rating on Apple is based on: 1) expected strong iPhone upgrade cycle in F25 driven by the need for latest hardware to enable Gen AI features, 2) higher growth in Services revenue." Morgan Stanley reiterates Tesla at overweight Morgan Stanley is bullish on Tesla's robotaxi heading into its early August launch. "August 8th may serve to re-ignite the conversation around whether Tesla i s worthy of inclusion in an AI conversation (or portfolio), or not." Barclays reiterates Netflix at equal weight Barclays raised its price target on the streaming platform to $550 per share from $475 ahead of earnings next week. " Netflix seems on course for another strong quarter but growth algorithm is getting more complicated vs the past, which is not reflected in valuation." Bank of America upgrades Ally Financial to buy from neutral Bank of America said the bank holding company has "credit leverage." "We are upgrading ALLY to Buy (from Neutral) and raising our PO to $46 (from $42) now assuming 7x our '25e EPS, implying ~20% potential upside." Bank of America initiates Frontier a buy Bank of America said the wirelines and cable telecom company has "meaningful potential to outperform." "We initiate coverage of Frontier Communications (FYBR) with a Buy rating and $30 price objective (PO), implying ~26% upside potential." Bank of America upgrades Freeport-McMoRan to buy from neutral Bank of America said in its upgrade of the copper and gold miner that it sees robust free-cash flow. "We materially increase POs for most of our copper coverage. Raise FCX to Buy (PO to $59) given high quality copper leverage, robust and rising free cash flow and material gold revenue." JPMorgan upgrades American Eagle to overweight from neutral JPMorgan said it sees brand momentum after meeting with AEO's management. " American Eagle Outfitters (AEO) – Upgrade to Overweight / $31 Price Target." Rosenblatt initiates Bitdeer Technologies as buy Rosenblatt said it's bullish on shares of the bitcoin miner. "We initiate coverage of BTDR with a Buy rating and $10.50 price target." Wolfe upgrades U.S. Steel to outperform from peer perform Wolfe said in its upgrade of the Pittsburgh-based steel maker that it's inexpensive as a standalone company. The company is in talks for a takeover by Japan's Nippon Steel. "We upgrade X to Outperform from Peer Perform as it looks relatively cheap on a standalone basis, using [estimates] well below its forecasts listed in the proxy. Biden's explicit opposition to the Nippon Steel takeover seriously dampened any chance of the deal being completed, in our view, adding to already vehement opposition from GOP rival Trump." KBW initiates nCino as outperform KBW said in its initiation of the software company that it sees a compelling entry point for nCino. "Attractive Entry Point Ahead of Revenue Growth Acceleration; Initiating Coverage at Outperform." DA Davidson reiterates Nvidia as neutral DA Davidson is concerned about a downturn affecting Nvidia in 2026. "Although NVDA (Neutral-rated) should deliver a spectacular 2024 (and perhaps into 2025), we continue to believe recent trends set up a significant cyclical downturn by 2026."

https://www.cnbc.com/2024/04/05/elon-musk-says-tesla-will-unveil-its-robotaxi-on-aug-8-shares-pop.html

TSLA

Tesla, Inc.

Elon Musk says Tesla will unveil its robotaxi on Aug. 8; shares pop

Elon Musk, Chief Executive Officer of Tesla and owner of X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France, June 16, 2023. Tesla will reveal its robotaxi product on Aug. 8, CEO Elon Musk said in a social media post on X. Musk has promised shareholders a robotaxi for years, but has not yet managed to deliver on his self-driving dreams and promises. A date for the unveiling event comes as some investors grow wary of the company during a period of slowing growth. Tesla shares rose over 3% in extended trading after Musk's tweet. Musk shared the reveal date on Friday after Reuters earlier reported that plans for a highly anticipated low-cost electric car by Tesla had been scrapped. Musk accused Reuters of "lying" without specifying any incorrect detail of their story. In 2015, Elon Musk told shareholders that Tesla's cars would achieve "full autonomy" within three years. In 2016, he said Tesla would able to send one of its cars on a cross-country drive without requiring any human intervention by the end of the following year. In 2019 during a fundraising call, Musk told investors that Tesla expected to have 1 million vehicles on the road the next year that would be able to function as "robotaxis." Each car should be able to do 100 hours of work a week for its owner, making money as a robotaxi he told investors at that time. Tesla still has yet to deliver a robotaxi, autonomous vehicle or technology that can turn its cars into "level 3" automated vehicles. However, Tesla offers advanced driver assistance systems (ADAS), including a standard Autopilot option or premium Full Self-Driving "FSD" option, the latter of which costs $199 per month for U.S. subscribers or $12,000 upfront. In a push for end-of-quarter sales last month, Musk mandated that all sales and service staff install and demo FSD for customers before handing over the keys. He wrote in an email to employees, "Almost no one actually realizes how well (supervised) FSD actually works. I know this will slow down the delivery process, but it is nonetheless a hard requirement." Despite its name, Tesla's premium option requires a human driver at the wheel, ready to steer or brake at any moment. Musk has continued to bet that Tesla customers and shareholders will stick with the Tesla brand regardless of self-driving delays, and regardless of his incendiary rhetoric on X, the social network he acquired in 2022 and now runs as CTO while also running Tesla, and the rocket and satellite internet company, SpaceX. Some autonomous vehicle competitors are gaining ground. Alphabet's autonomous vehicle unit Waymo operates commercial, driverless ride-hailing services in Phoenix, San Francisco and Los Angeles, and is ramping up in Tesla's home base of Austin, Texas. Waymo also recently struck a multi-year partnership with Uber and will put its robotaxis to use delivering food for Uber Eats in Arizona. In China, Didi's autonomous unit operates commercially in markets including Guangzhou. Companies including Wayve in the U.K. and Zoox in the U.S. continue testing their robotaxis. Other companies have had a tough time in the crowded market. On Friday, Apple shuttered its self-driving unit and laid off about 600 people on Friday who had been associated with the project. GM's Cruise service previously offered self-driving car services in San Francisco before being wound down under regulatory scrutiny after an accident. Since the incident, Cruise's robotaxi fleet has been grounded, local and federal governments have launched their own investigations and Cruise leadership has been gutted. At Tesla, "unveil" dates do not predict a near-future date for a commercial release of a new product. For example, Tesla unveiled its fully electric heavy-duty truck, the Semi, in 2017 and did not begin deliveries until December 2022. It still produces and sells very few Semis to this day.

https://www.cnbc.com/2024/04/07/xiaomi-breaks-into-the-china-ev-scene-in-direct-competition-with-tesla.html

TSLA

Tesla, Inc.

A Chinese smartphone maker is breaking into EVs and challenging Tesla. How the stock rates now.

Just as the auto industry was grappling with BYD 's rapid rise, Chinese smartphone company Xiaomi has burst into the market — undercutting Tesla and vowing to become a global player. Even as Apple this year scrapped development of an electric, self-driving car , Xiaomi's founder and CEO Lei Jun pledged that making a car will not only be his final legacy project, but a product that turns the company into one of the top five automakers in the world in the next two decades. Xiaomi's Hong Kong-listed shares soared last week to a two-year high after the company introduced its electric SU7 sedan at a price about $4,000 cheaper than Tesla's Model 3 — and with similar tech capabilities. Wider analyst attention In the last several days, Xiaomi has gained wider attention from auto and tech industry analysts beyond those who previously covered it as only a smartphone play. "Add Xiaomi to the list of capable China auto/tech firms that may represent attractive collaboration candidates as Western legacy auto firms look for ways to achieve higher scale, improved capital discipline and lower execution risks," Morgan Stanley auto analyst Adam Jonas said in a note Thursday. Meanwhile, Tesla last week revealed that its deliveries fell in the first quarter from a year ago . Excluding Covid, that was the first decline in Tesla deliveries since 2012, Jonas pointed out. While he still likes Tesla longer-term , he and his team will hold a client webinar on Xiaomi, Tesla and global EVs on Tuesday. "If Xiaomi can continue to outperform peers on [driver assist] and smart cabin features, we believe it is likely to become a disruption force with large growth potential," Morgan Stanley's greater China tech hardware analyst, Andy Meng, said in a note Monday. Meng reiterated the bank's overweight rating on Xiaomi, and its price target of 17.50 Hong Kong dollars ($2.24). Xiaomi shares nearly reached that price during last week's surge. The stock later gave back much of those gains, and are now little changed on the year. Meanwhile, Tesla shares are down 34% year to date. On Wednesday, Xiaomi said it had received more than 100,000 orders for the SU7, more than 40,000 of which were already locked in and not subject to cancellation. The same day, it held a ceremony celebrating its first batch of car deliveries. Six-month wait times Most customers face wait times of nearly six months or longer, according to Xiaomi's online sales platform. Taylor Ogan, Shenzhen-based CEO of Snow Bull Capital, said that he's watching to see how consumers actually like driving the car before he commits to buying Xiaomi shares. "I don't think it will do particularly well for the stock price [in] the next two quarters," he said in an interview Friday. "After that, this could be a cash cow. This is something that every single avid Xiaomi ecosystem user needs." Months ahead of the car launch, Xiaomi announced a new operating system called HyperOS and a strategy to connect consumers with their homes and cars. The company makes most of its revenue from smartphones, but a significant share also comes from a range of home appliances, many of which are controlled using an app. During the recent SU7 launch, Xiaomi CEO Lei touted that when a driver neared home, connected lights and appliances could automatically turn on to pre-determined settings. Such an ecosystem offers "a built-in recurring revenue model that every CEO would dream of," Ogan said. "On top of that, you can have subscriptions." He said he sees low odds that the SU7 flops, but said it would be difficult for Xiaomi to recover if the car does disappoint expectations. Although Xiaomi is trying to build out its own ecosystem, the company also supports Apple's Car Play system and iPads. "We believe the ultimate outcome [of Xiaomi's EV market entry] would be a faster BEV/NEV penetration in China, thus ICE brands or products would be the main losers," JPMorgan's Nick Lai, head of China equity research and head of APAC auto research, said in a note Monday. He was referring to internal combustion engines, battery electric vehicles and new energy vehicles. Recognition and cash Xiaomi's advantages include existing brand recognition in China, and 110 billion yuan ($15.7 billion) in cash on its balance sheet that can help the company weather a near-term price war, the report said. Lei has said that Xiaomi is currently producing each car at a loss, but noted the company invested in its own factory to boost production. It's not clear whether the facility is fully operational yet, but Lei claimed last month the factory could churn out an SU7 every 76 seconds in a nearly fully-automated process. "Xiaomi also showcased its EV factory with highly automated production lines for key processes (painting, stamping, die casting, body assembly etc.), backed by its smart manufacturing expertise. We believe high degree of automation should help accelerate its EV profitability improvement in the mid to long term," JPMorgan technology analyst Gokul Hariharan said in a separate note. The bank has an overweight investment recommendation on Xiaomi, with a price target of 21 Hong Kong dollars. That's about 35% above where the stock closed Friday. One risk is China's ability to produce electric cars at prices far below overseas competitors has prompted warnings that trade tensions will grow. Only Friday, U.S. Treasury Secretary Janet Yellen emphasized concerns about China's overcapacity as she kicked off high-level meetings in the country. But while Xiaomi has hinted at overseas car plans, it has promised to focus on the China market first. Right now, it sells smartphones globally, but not in the U.S.

https://www.cnbc.com/2024/04/05/tesla-scraps-low-cost-car-plans-amid-fierce-chinese-ev-competition-reuters.html

TSLA

Tesla, Inc.

Tesla scraps low-cost car plans amid fierce Chinese EV competition: Reuters

Tesla has canceled the long-promised inexpensive car that investors have been counting on to drive its growth into a mass-market automaker, according to three sources familiar with the matter and company messages seen by Reuters. The automaker will continue developing self-driving robotaxis on the same small-vehicle platform, the sources said. The decision represents an abandonment of a longstanding goal that Tesla chief Elon Musk has often characterized as its primary mission: affordable electric cars for the masses. His first "master plan" for the company in 2006 called for manufacturing luxury models first, then using the profits to finance a "low cost family car." Tesla shares were down by 6% in late morning trading after the Reuters report. Musk has since repeatedly promised such a vehicle to investors and consumers. As recently as January, Musk told investors that Tesla planned to start production of the affordable model at its Texas factory in the second half of 2025, following an exclusive Reuters report detailing those plans. Tesla's cheapest current model, the Model 3 sedan, retails for about $39,000 in the United States. The now-defunct entry-level vehicle, sometimes described as the Model 2, was expected to start at about $25,000. Tesla did not respond to requests for comment. The stark reversal comes as Tesla faces fierce competition globally from Chinese electric-vehicle makers flooding the market with cars priced as low as $10,000. The plan for driverless robotaxis, which could take longer to deliver, presents a stiffer engineering challenge and more regulatory risk. Two sources said they learned of Tesla's decision to scrap the Model 2 in a meeting attended by scores of employees, with one of them saying the gathering happened in late February. "Elon's directive is to go all in on robotaxi," that person said. The third source confirmed the cancellation and said new plans call for robotaxis to be produced, but in much lower volumes than had been projected for the Model 2. Several company messages reviewed by Reuters about the decision included one on March 1 from an unnamed program manager for the affordable car discussing the project's demise with engineering staff and advising them to hold off on telling suppliers "about program cancellation." A fourth person with knowledge of Tesla's plans expressed optimism about the decision to pivot away from the cheap-car strategy in favor of robotaxis, a segment Musk has envisioned as the future of mobility. The source cautioned that Tesla's product plans could change again based on economic conditions. Squeezing profits from entry-level vehicles is a challenge for any automaker. But Tesla's delay in pursuing the car Musk once called his dream made it much tougher because it now faces far more competition in that price range. While Tesla spent years developing its highly experimental Cybertruck, a pricey electric pickup, Chinese automakers have raced ahead on affordable EVs, grabbing market share, gaining economies of scale and offering consumers bargain prices that Western automakers are struggling to match. As Chinese EVs surged to challenge Tesla's dominance, Musk was tending to his sprawling empire, which includes rocket-maker SpaceX, brain-chip developer Neuralink, and social media giant X, which Musk acquired in 2022. Formerly called Twitter, the platform has foundered under Musk's volatile management, shedding most of its value as the company has lost revenue and advertisers. Plans for the affordable Tesla have been seen as key to delivering on Musk's stratospheric ambitions for sales growth. Musk said in 2020 that Tesla aspired by 2030 to sell 20 million vehicles – twice as many as the world's largest automaker, Toyota, sells today. With the death of the Model 2, it's unclear how he'll get there. Expectations for a $25,000 vehicle have underpinned Wall Street analysts' more modest, but still ambitious, forecasts for Tesla sales. Those forecasts, according to a Tesla investor-relations document, call for vehicle sales rising to 4.2 million by 2028 from 1.8 million last year. Musk has wavered on the project before. In a biography of the entrepreneur released last year, author Walter Issacson reported that Musk in 2022 "put a hold on" the entry-level EV plans, reasoning that a Tesla robotaxi would make the car irrelevant. Musk's advisors urged him to stay the course, the book said.

https://www.cnbc.com/2024/04/12/fridays-stocks-to-buy-like-apple.html

TSLA

Tesla, Inc.

Here are Friday's biggest analyst calls: Apple, Amazon, Tesla, Microsoft, Boeing, First Solar & more

Here are Friday's biggest calls on Wall Street: Morgan Stanley reiterates Netflix as overweight Morgan Stanley raised its price target on the stock to $700 per share from $600. "Netflix's track record includes pivoting from DVD to streaming, scaling the world's largest studio, and successfully monetizing password sharing." BMO reiterates Microsoft as outperform BMO raised its price target on the stock to $465 per share from $455. "We believe that MSFT is well positioned in the gaming market, particularly since we think leading content and scale are sources of competitive advantage." Wolfe upgrades Mobileye to outperform from peer perform Wolfe said the autonomous driving systems company has "competitive advantages." "We upgrade Mobileye to Outperform from Peer Perform." Morgan Stanley reiterates Starbucks as overweight Morgan Stanley lowered its price target to $115 per share from $120 but said it's sticking with Starbucks shares. "We are reducing 2Q/FY estimates to below guidance, investors likely below us, but we continue to see interesting risk/reward skew." JPMorgan downgrades Corteva to neutral from overweight JPMorgan downgraded the chemical ag company as crop chemical prices are moving lower. "2024 is likely to begin slowly for Corteva . Crop chemical de-stocking continues in South America and Europe." Bank of America reiterates Amazon as buy Bank of America said it's sticking with its buy rating after the company released its shareholder letter on Thursday. " Amazon published its CEO shareholder letter, highlighting the company's performance in "an uncertain economy" and elaborating on the company's building block philosophy." Piper Sandler reiterates Charles Schwab as overweight Piper said shares of Schwab are attractive. "Charles Schwab's profitability, earnings growth, and free cash flow yield make it an attractive stock in the Financial sector." Bank of America reiterates Marvell as buy Bank of America said it's sticking with its buy rating following Marvell 's AI event. "Our 12-month price target of $84 (17% potential upside) is unchanged and we maintain our Buy rating on the stock." Jefferies initiates Academy Sports as buy Jefferies said the sporting goods company has an attractive valuation. " ASO's Price/Value Equation Attractive In Current Environment & Private Label Journey Just Middle Innings." UBS initiates Spire as buy UBS said shares of the energy company are deeply discounted. "We are initiating on Spire with a Buy and $68 price target." BTIG initiates Hafnia as buy BTIG said it's bullish on shares of the tanker company. "We are initiating coverage of Hafnia (HAFN) with a Buy rating and $10 PT, following the company's listing on the NYSE earlier this week." Morgan Stanley upgrades energy sector to attractive Morgan Stanley said it sees a slew of positive catalysts ahead for the energy sector. "The outlook for Energy equities has continued to evolve rapidly in recent months." Rosenblatt downgrades Arista Networks to sell from buy Rosenblatt said Arista may not be a beneficiary of the AI data center trend after all. "We are downgrading ANET to Sell, from Buy, as we gain a better understanding of what's going on in AI Data Center networking." Raymond James upgrades GitLab to outperform from market perform Raymond James said in its upgrade of the software company that GitLab shares are finally attractive. "Attractive Industry; Significant Runway for Growth." Mizuho upgrades Ecolab to buy from neutral Mizuho said it sees "earnings visibility" for the food safety company. "We upgrade ECL to Buy from Neutral, with a PT of $260 (from $216)." Citi adds a positive catalyst watch on Cisco Citi resumed coverage of the stock with a neutral rating but added a positive catalyst watch, saying the company will benefit from its Splunk acquisition. "We are opening a positive catalyst watch as we expect Cisco to benefit from the early close of the Splunk acquisition and a growing AI backlog, both of which are likely to be key topics on the company's May 15 earnings call." UBS upgrades DocuSign to neutral from sell UBS said the document-signing company is now more fairly valued. "We are upgrading our view of DocuSign shares from a Sell to Neutral and raise our PT to $62 from $48." Goldman Sacks reiterates Apple as buy Goldman said it's sticking with its buy rating ahead of earnings in early May. "We expect AAPL to deliver relatively in-line results for F2Q24 with EPS of $1.53 and revenue of $90.7 bn." JPMorgan reiterates Boeing as overweight JPMorgan lowered its price target on Boeing to $210 per share from $230 but said it's sticking with its overweight rating. "The path forward on production is not very clear, and while demand should allow for significant growth over time, investors should keep nearer term expectations in check." Janney initiates First Solar as buy Janney said the solar company is a beneficiary of "tougher on China" trade policy. " FSLR : Initiating Coverage with a BUY Rating and $236 Fair Value." BMO initiates Novo Nordisk as outperform BMO said it likes the company's obesity product pipeline. "We are initiating coverage of Novo Nordisk US ADRs with an Outperform rating and $163 target." Citi reiterates Tesla as neutral Citi lowered its price target on the stock to $180 per share from $196. "Given NT [near term] Tesla demand headwinds (in our view tied to product age, saturation), we still see more downside than upside to our NT estimates."

https://www.cnbc.com/2024/04/04/morgan-stanleys-adam-jonas-says-tesla-100-bear-case-may-be-in-play.html

TSLA

Tesla, Inc.

Morgan Stanley's Adam Jonas says Tesla $100 bear case may be 'in play' now, but notable analyst still likes the stock long term

Tesla may have further to fall in the near-term despite its long-term potential, according to Morgan Stanley. "We do not believe Tesla will get credit as an AI company as long as core auto earnings are being revised down," wrote widely-followed Tesla bull Adam Jonas. "This process may take a few more quarters to see through, over which time our $100 bear case may be 'in play'," the analyst wrote in a report Thursday. The $100 bear case suggests that Tesla could fall more than 40% from Wednesday's close. Shares of the electric vehicle maker have come under pressure in recent months, falling 33% this year, as competition mounts in China and demand wanes. Earlier this week, Tesla reported an 8.5% decline in first-quarter deliveries compared to a year ago. These issues could hamstring Tesla near term, but Jonas expects deliveries to find a bottom in the second quarter. In fact, he views Tesla as a combination of an auto, energy, AI and robotics stock, noting that its auto business represents only 20% of Morgan Stanley's $310 price target valuation. "At the same time, however, we believe investors should not ignore the continued developments of Tesla's other plays, many of which are auto-related (i.e. the recurring revenue opportunity from the Tesla fleet – embedded in our Tesla Network Services valuation) and other areas that we do not include within our $310 target," he said. The $310 price target, down from a previous $320, suggests that Tesla stands to gain 84% from Wednesday's close over the next 12 months. Jonas reiterated an overweight recommendation on Tesla in his report.

https://www.cnbc.com/2024/04/03/jpmorgan-says-tesla-sales-miss-threatens-rarified-valuation.html

TSLA

Tesla, Inc.

JPMorgan slashes Tesla price target, says sales miss threatens 'rarified valuation'

Tesla stock has room to fall further after the electric vehicle maker missed first-quarter delivery estimates, according to JPMorgan. The bank reiterated an underweight rating on Elon Musk's company Wednesday but slashed its price target to $115 per share from $130. JPMorgan's forecast amounts to more than 34% downside from Tuesday's $175.22 close. Tesla has already plummeted more than 32% in 2024. Shares have come under pressure as the EV transition has stalled , and Tesla has responded by lowering some prices. On Tuesday, Tesla missed analyst estimates for vehicle deliveries in the first quarter and notched its first year-over-year delivery decline since 2020. TSLA YTD mountain Tesla stock. The company said the quarter's deliveries were hurt by headwinds tied to militia attacks in the Red Sea that damaged supply chains, a difficult ramp-up of the updated Model 3, and increased competition in China. Unlike a traditional original equipment manufacturer, Tesla reports deliveries rather than sales. "We are slashing our estimates and price target for Tesla shares after updating for 1Q24 deliveries which yesterday tracked materially softer than JPM and consensus expectations," JPMorgan analysts led by Ryan Brinkman wrote. "[W]e estimate [this] could spell trouble for investor confidence in the company's long-term growth outlook that is so critical to sustaining the stock's rarified valuation multiple." Despite Tesla falling roughly 59% from an all-time high of about $410 in November 2021, the bank said Tesla's valuation is still too high. The stock has developed a cult-like following as investors hoped that Tesla would remain the de facto EV and autonomous driving leader. "The stock still strikes us as highly expensive, with extraordinary work and tremendous accomplishment unlike the trend in recent quarters required in coming years to grow into even our $115 price target," Brinkman wrote. Tesla would still boast a market value of some $401 billion even at JPMorgan's $115 per-share price target, the bank said, meaning it would edge out Toyota, with a market cap of $391 billion, "as the world's most valuable automaker." JPMorgan is far from alone in curbing its enthusiasm for Tesla after the latest first-quarter delivery numbers. Guggenheim Securities cut its Tesla price target to $122 from $132 on Wednesday, while Deutsche Bank reduced its target to $189 from $200. — CNBC's Michael Bloom contributed to this report.

https://www.cnbc.com/id/100398097

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Texas Instruments

Texas Instruments Beats Estimates, Warns on First Quarter

Texas Instruments posted fourth-quarter earnings that beat analyst estimates, but its guidance for the first quarter was below estimates. The chip maker expects to earn 24 to 32 cents per share in the first quarter, below Street estimates for 34 cents per share, as the company exits the wireless business. Revenue is expected to be between $2.69 billion to $2.91 billion compared with a forecast of $2.89 billion, according to a consensus estimate from Thomson Reuters. The stock is lower in after-hours trading. What is Texas Instruments stock doing now? (Click here for the latest extended-hours quotes.) "We continue to operate in a weak demand environment," said Rich Templeton, TI's chairman, president and CEO, in a press release. "Our visibility into future demand remains limited as our lead times are short and our customers are reluctant to commit to extended backlog." On the conference call, the company's CFO said that customers are carrying low levels of inventory given the uncertainties surrounding Europe, China and the U.S. fiscal situation. For the fourth quarter, Texas Instruments reported net income of 24 cents a share. Excluding items, Texas Instruments earned 36 cents per share beating analysts' 34-cent-a-share estimate. Revenue fell 13 percent from a year earlier but was also slightly better-than-expected at $2.98 billion. Reuters contributed to this report.

https://www.cnbc.com/2024/01/11/sanctioned-western-tech-is-still-entering-russia-and-powering-its-war.html

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Texas Instruments

Sanctioned Western tech is still entering Russia and powering its military machine, new analysis shows

Sefa Ozel | E+ | Getty Images Russia is still obtaining large volumes of Western technology critical to its war in Ukraine, even as sanctions show some sign of taking hold, new analysis shows. China, Hong Kong, Turkey and the United Arab Emirates have been increasingly important in funneling critical components to Russia, according to new research, as supply chains have adapted in response to export controls aimed at choking off Moscow's military machine. In response to Russia's full-scale invasion of Ukraine on Feb. 24, 2022, a Western coalition of allies including Japan and South Korea imposed a series of sanctions restricting the sale of certain goods to Russia, including advanced technologies for use in the military. Yet Western-origin technologies still accounted for almost half of all Russian imports of critical components and "high-priority" battlefield goods in the first three quarters of 2023, according to research from Ukrainian think tank KSE Institute and the Yermak-McFaul International Working Group, which promotes sanctions against Russia. Such products are typically designed by companies headquartered in Western coalition countries, but manufactured and distributed abroad — often making their supply chains harder to police. Earlier CNBC investigations indicated that these third-country intermediaries are generally based in countries without direct sanctions on Russia — primarily China, as well as Turkey and the UAE. Moscow imported more than $22 billion worth of critical components between January and October 2023, Russian trade data shows. Over the same period, it also imported almost $9 billion worth of "high-priority" battlefield components, which Western authorities have specifically sanctioned. Such goods include microchips, communications equipment, computer components, bearings and transmission shafts, and navigation and sensor devices — which can be used in a range of military equipment including drones, radios, missiles and armored vehicles. The trade flows mark an uptick from the first six months of the Russia-Ukraine war, when Russian imports dropped off dramatically. When compared to pre-war levels, however, the figures point to a downward trend, with Russian imports of critical components and battlefield goods down 29% and 10%, respectively. The report's authors said the data suggests that some export controls are working, and that Russia has been unable to find reliable substitutes for many Western components. They noted that more needs to be done to bolster enforcement and clamp down on remaining loopholes. "We are finally starting to see this slow but somewhat positive trend," Olena Bilousova, senior research lead at KSE Institute and one of the report's authors, told CNBC. "Sanctions are not a measure you can enforce and expect to see the effects tomorrow." The findings mirror comments made Tuesday by Ukrainian President Volodymyr Zelenskyy, who said that there were "clear signs of a slowdown" in Russia's defense industry. Zelenskyy did not provide evidence for his assertion, and Russia has separately said that its production of military equipment has stepped up. U.S. tech continues to enter Russia According to the new research, products originating from U.S.-headquartered companies accounted for the second-largest share of Russian imported battlefield goods (27%) and critical components (19%) after China. The U.S. products originated from companies including tech giants Intel, Analog Devices, Advanced Micro Devices and Texas Instruments — all of whose equipment has been found in Russian weaponry on the battlefield in Ukraine, according to KSE. While the data points to a slowdown in the supply of products from some companies in 2023 versus 2022, including Intel and AMD, it also suggests an increase for others, namely Analog and Texas. These upticks can't go unnoticed by internal controls. Olena Bilousova senior research lead at KSE Institute Bilousova said the trends indicate that such products are still finding their way to Russia, "and, moreover, their volumes are increasing" over time. "These upticks can't go unnoticed by internal controls," she added. CNBC reached out to the companies cited and all of them said that they had ceased trading with Russia in the wake of the war and that their operations were in compliance with sanctions. In a statement, Analog Devices said that any post-sanctions shipments to Russia were a "direct violation of our policy and the result of an unauthorized resale or diversion." Meanwhile, Intel said that it is actively working to "track and mitigate potential distributor issues." Texas Instruments said that it "strongly oppose(s) our chips' use in Russian military equipment and the illicit diversion of our products to Russia," and that it takes action if it learns that its distributors do not comply with export controls. AMD similarly said it "does not condone and works to disrupt the malign use of our products in Russian military equipment" and that it operates compliance and monitoring programs to prevent such use. The report's findings highlight the continued challenges faced by the industry in monitoring its complex supply chains. In a January 2023 blogpost, the Semiconductor Industry Association, which represents around 99% of the U.S. semiconductor industry and around two-thirds of non-U.S. chip firms, highlighted the issue, but said the industry was "deeply committed" to working with the U.S. and allied governments to address the "illicit diversion" of its technology. Russia's advanced machine tool imports soar Elsewhere, the report also highlighted a significant increase in Russian imports of a class of advanced machine tools critical to Moscow's military production since the start of the war. Russia imported $189 million of "computer numerical control" machinery between January and October 2023, according to KSE analysis. It marks an 88% increase versus pre-war levels, with the majority of these tools coming from Western coalition countries. Computer Numerical Control (CNC) machine used for cutting and welding a steel structure at an industrial manufacturer. Vithun Khamsong | Moment | Getty Images CNC machines are automated industrial tools widely used in the aerospace, automotive and defense industries. Their applications can include the production of weapon hulls, aircraft parts, missile and drone components, and microelectronics. Such goods became the target of U.S. and EU sanctions in late 2023, making it more complicated and expensive for Russia to obtain them. However, new indications suggest that China may be stepping in to plug that gap. Chinese shipments to Russia of CNC tools have increased tenfold since the start of Moscow's full-scale invasion of Ukraine, according to an FT analysis of Russian trade data released last week. Reinforcing economic sanctions Given the potential impact of sanctions — and their clear failure in some cases — Western authorities must now do more to improve enforcement, the report's authors said. Elina Ribakova, director at KSE Institute, said policymakers must demand greater corporate responsibility, while closing policy gaps in Russian export controls, including tackling circumvention via third countries. "Without the private sector piece, we're just not going to move forward," Ribakova said. "And from the policy side, there is no signal what that policy would be so they don't want to stick their heads above the parapet." Additionally, she called for greater cooperation between enforcement agencies in coalition countries to improve the robustness of the sanctions regime more broadly. It's not just about the effectiveness of the Russian sanctions. It is also about the credibility of the entire sanctions regime. Benjamin Hilgenstock senior economist at KSE Institute Closing the gaps in sanctions enforcement could prove critical not only to Ukraine's victory but also to the integrity of export controls more broadly. "It's not just about the effectiveness of the Russian sanctions. It is also about the credibility of the entire sanctions regime," KSE's senior economist Benjamin Hilgenstock said. "Technology sanctions are rightfully seen as a new frontier in economic statecraft." That is something Western policymakers will need to keep front of mind as they confront other geopolitical tensions, including with an increasingly assertive Beijing, Ribakova added. "If they cannot even limit Russia, it is really not clear how they plan to do foreign direct policy on China," she said. watch now

https://www.cnbc.com/id/100791455

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Texas Instruments

Texas Instruments Prunes Its Forecast

Texas Instruments said it expects second-quarter earnings of 39 to 43 cents a share. That's narrower than the 37 cents to 45 cents a share TI had previously projected but still in line with the consensus estimate of 42 cents a share, according to a survey by Thomson Reuters. The company expects revenue of $2.99 billion to $3.11 billion, narrower than the $2.93 billion to $3.17 billion previously expected, but in line with the $3.06 billion expected. As more smartphone makers have begun to develop their chips in-house, Texas Instruments has shifted its business strategy away from making chips for the mobile market and has instead been focusing on building chips for embedded applications, including the chips used in automobiles and industrial equipment. What's Texas Instruments stock doing now? Click here for the latest after-hours quote. This story is developing. Please check back for further updates.

https://www.cnbc.com/2019/09/20/stocks-making-the-biggest-moves-premarket-texas-instruments-beyond-meat-alphabet-more.html

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Texas Instruments

Stocks making the biggest moves premarket: Texas Instruments, Beyond Meat, Alphabet & more

Check out the companies making headlines before the bell: Texas Instruments – Texas Instruments raised its quarterly dividend by 17%. The chipmaker will now pay 90 cents per share, up from the prior 77 cents a share, with the next dividend payable November 18 to stockholders of record on October 31. Beyond Meat — Beyond Meat hired Sanjay Shah as the meat-alternative maker's chief operating officer. Shah had previously been senior vice president of Tesla's solar business. Alphabet – Alphabet's Google unit will invest $3.3 billion over the next two years to expand its European data centers. Royal Bank of Scotland – RBS has named Alison Rose as its new Chief Executive Officer. She is the first woman to hold the top spot at a major British lender. Xilinx – Xilinx Chief Financial Officer Lorenzo Flores is leaving the chipmaker, which has started a search for a replacement. Flores will depart after the company reports quarterly earnings on October 23. Steelcase – Steelcase reported quarterly earnings of 50 cents per share, 7 cents a share above estimates. The office furniture maker's revenue also exceeded Wall Street forecasts. CEO James Keane called the quarter one of the company's strongest in the past 20 years. Etsy – Etsy was upgraded to "outperform" from "sector perform" at RBC Capital Markets, which thinks three recently announced initiatives will have a positive impact on the online crafts marketplace operator's performance. Roku – Roku was rated "sell" in new coverage at Pivotal Research, which points to increasing competition in the streaming device business which will likely drive the cost of such devices to zero. Molson Coors – The beer brewer was rated "buy" in new coverage at MKM Partners, which notes the effectiveness of a new Coors Light ad campaign. J.C Penney — The retailer is preparing for debt restructuring talks ahead of the holiday shopping season, according to a Bloomberg report. Sources said filing for bankruptcy protection is not a focus of the anticipated talks. General Motors – The United Auto Workers union issued a statement saying progress has been made in contract talks between the automaker and the union, but that many issues remain unresolved. A strike by workers began earlier this week. Wayfair – Berenberg rates the online home goods retailer as a "sell" in new coverage, saying Wayfair's first-mover advantages are being eroded by intensifying competition.

https://www.cnbc.com/2020/01/22/stocks-making-the-biggest-moves-after-hours-texas-instruments-more.html

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Texas Instruments

Stocks making the biggest moves after hours: Texas Instruments, Raymond James, Sallie Mae and more

Take a look at the companies making headlines after the bell. Texas Instruments – Texas Instruments' stock fell 1% in extended trading on Wednesday after the company said its revenues declined in the fourth quarter and may do so against in the current three-month period. The semiconductor company did beat estimates, reporting earnings of $1.11 per share on revenue of $3.35 billion, while analysts expected earnings of $1.02 per share on revenue of $3.22 billion, according to Refinitiv. However, revenue decreased 10% from the same quarter a year ago, and the midpoint of its first-quarter guidance is about 9% below the first quarter of 2019. Citrix Systems — Shares of Citrix Systems rose more than 4% in extended trading after the company beat expectations for the fourth quarter on the back of strong subscription revenue growth and announced it was expanding its stock buyback program. The tech company reported revenue for the quarter of $810 million and $1.71 in adjusted earnings per share, above the $802 million in revenue and $1.68 EPS expected by Wall Street analysts, according to Refinitiv. The company said its board approved a $1 billion increase in its stock buyback authorization, which is now at $1.75 billion. Raymond James — Shares of Raymond James fell more than 3% after-hours following an earnings report that showed net revenue declining slightly compared with the previous quarter. The bank reported $2.01 billion in revenue for the fourth quarter, up 8% year-over-year but 1% lower than the third quarter. Raymond James' interest income and investment bank income fell compared with both prior time periods. Sallie Mae - Sallie Mae stock surged more than 19% in extended trading on Wednesday after it announced a new stock buyback program in its fourth-quarter earnings release. The financial company, which has a market cap of around $3.7 billion, said it planned to buy back $600 million worth of stock over the next year. The company also said its net interest income and average private education loans outstanding were both up for the quarter compared with the same period in 2018. PTC - Shares of the computer software company jumped nearly 8% after it released fourth-quarter results that beat expectations for revenue. PTC reported earnings of 57 cents per share on revenue of $356 million, while analysts expected earnings of 44 cents per share on revenue of $342 million, according to Refinitiv. The company said it saw strong growth in Europe and Asia during the quarter. Paycom Software - Shares of the human resource software company jumped more than 4% in extended trade after the announcement that the company will replace WellCare Health in the S&P 500 on Jan. 28. WellCare is being acquired by Centene and that deal is expected to be completed soon, the S&P Dow Jones Indices said in a release announcing the change. HB Fuller - Shares of the specialty chemical product company fell about 2% in extended trade after the company missed analyst expectations for fourth-quarter earnings. HB Fuller posted earnings of 88 cents per share, excluding some items, on revenues of $739 million in the fourth quarter. Analysts expected EPS of 92 cents on revenue of $744 million, according to Refinitiv. CNBC's Chris Eudaily contributed to this report.

https://www.cnbc.com/2019/08/12/texas-instruments-and-one-other-semis-stock-to-own-in-a-sell-off.html

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Texas Instruments

Texas Instruments and one other semis stock are good to own in a sell-off, technician says

Chips stocks have been crushed this month. The SMH semiconductor ETF has tumbled more than 4% in August, a steeper drop than the broader technology sector and more than double the losses on the S&P 500 . That marks a sharp reversal from a peak last month. "Many of these stocks ... broke key resistance and made new highs in July, but those old resistance levels became new support, and a lot of them rolled back over and broke below those new support levels, including the SMH, the semiconductor ETF," Miller Tabak equity strategist Matt Maley said Friday on CNBC's "Trading Nation." Since hitting an all-time high on July 24, the SMH has tanked nearly 10%. However, two stocks have resisted the downdraft, according to Maley. "The first one is KLA Corp.," said Maley. "Not only did it bounce, it bounced strongly. It's up 6 to 7 percent off that old support level. So, it gives it a lot of wiggle room in case the market kind of falls, sees another leg lower anytime soon," said Maley. KLA has surged 15% this quarter, far better than the 2% advance on the SMH. It is also up more than 50% this year. "The second one is Texas Instruments . I mean, that stock was stuck in a sideways range for 18 to 19 months. And it broke above that range in July. And whenever a stock breaks out of a nice long-term sideways range, it usually gets a lot of upside movements," said Maley. Texas Instruments has also outperformed during this quarter, though not by as much as KLA. The stock is up nearly 6% since the beginning of July and 28% higher for the year. KLA and Texas Instruments also now yield more than the 10-year Treasury note after global rates plummeted. Steve Chiavarone, portfolio manager at Federated Investors, advises looking past near-term weakness in favor of the potential long-term strength. "It's a real mistake to focus on the short-term with this particular sector. I think it's akin to trying to pick up pennies in front of a tractor trailer," said Chiavarone. "The real underlying story is that we're essentially digitizing the entire physical economy. There's an industrial revolution that is built on the semiconductor chip. That is a secular theme that turns any of these kinds of pullbacks into long-term buying opportunities." During the last pullback in the fall, the SMH declined 20% from an April peak to late May trough. It then rallied 27% to its record last month. The longer-term performance is even more impressive — over the past 10 years, the SMH is up 367%. "Of course you want to own this group. Sometimes you're going to get a little better value, but you want to look at those downdrafts as real buying opportunities," said Chiavarone. Disclaimer

https://www.cnbc.com/2024/01/24/stocks-making-the-biggest-moves-midday-nflx-asml-t-amd.html

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Texas Instruments

Stocks making the biggest moves midday: Netflix, ASML, AT&T, Advanced Micro Devices and more

Check out the companies making headlines in midday trading. Netflix — The streaming stock popped nearly 11% after topping fourth-quarter revenue estimates and posting strong subscriber growth. Late Tuesday, Netflix said it added 13.1 million subscribers during the period, bringing its total membership tally to 260.8 million. That's ahead of the 256 million expected by analysts polled by StreetAccount. ASML — The semiconductor equipment stock rallied more than 9%. ASML posted fourth-quarter results that surpassed Wall Street's expectations on the top and bottom lines. Net sales also rose 12.5% year over year. AT & T — The telecommunications stock fell nearly 3%. Revenue topped expectations and AT & T added more subscribers than anticipated, but the company forecast lower-than-expected adjusted earnings for 2024. Advanced Micro Devices — The chip stock popped 5.9% after being upgraded by New Street Research to buy. The firm thinks AMD is the best way to play datacenter artificial intelligence chips if the chipmaker's forecast of a $400 billion addressable market by 2027 bears out. Spotify — Spotify's stock rose 2.1%. The company said Wednesday it will update its iPhone app in Europe to enable users to purchase in-app subscriptions and audiobooks. Texas Instruments — Shares fell 2.5% on the back of the company's weak forward earnings and revenue guidance. On Tuesday, Texas Instruments forecast first-quarter earnings to fall between 96 cents and $1.16 per share, versus consensus estimates of $1.41 per share per LSEG, formerly known as Refinitiv. Revenue is also expected to come in lower, in a range of $3.45 billion to $3.75 billion, compared to estimates of $4.06 billion. The company reported an earnings beat in the fourth quarter, but missed on bottom lines. SAP — The German software stock surged nearly 7%. SAP on Tuesday said it plans to carry out voluntary buyouts or allow job changes for 8,000 employees as part of a broader restructuring effort. The company said its headcount should remain the same at the end of the year. DuPont de Nemours — The chemical stock tumbled nearly 14% after DuPont preannounced fourth-quarter results that came below analysts' expectations. The company guided for fourth-quarter revenue of $2.90 billion, under the $3 billion expected by analysts surveyed by FactSet. DuPont also issued weak first-quarter guidance, calling for adjusted earnings of between 63 cents and 65 cents per share, which was below the current expectation of 88 cents. Kimberly-Clark — Shares of the consumer products company fell more than 5.5% after Kimberly-Clark's fourth-quarter results came in below expectations. The company reported adjusted earnings of $1.51 per share on $4.97 billion of revenue. Analysts surveyed by LSEG were expecting $1.54 per share on $4.98 billion of revenue. Kimberly-Clark's operating margin fell year over year, due in part to currency exchange costs. Elevance Health — Shares inched higher after Elevance Health topped Wall Street's expectations even as health insurance memberships came in below expectations. The company hiked its dividend by 10% and offered strong full-year guidance. Abbott Laboratories — The health-care stock slipped 2.8% on the heels of the company's earnings report. Abbott posted adjusted earnings that came in line with the consensus estimate of analysts polled by FactSet at $1.19 per share. Elsewhere, Abbott reported $10.24 billion in revenue for the quarter, surpassing the $10.19 billion figure anticipated by Wall Street. The firm also told investors to anticipate full-year adjusted earnings between $4.50 and $4.70 per share, a range that includes the $4.63 per share analyst forecast. — CNBC's Michelle Fox, Hakyung Kim, Lisa Kailai Han, Alex Harring, Tanaya Macheel and Jesse Pound contributed reporting.

https://www.cnbc.com/2019/01/23/stocks-making-the-biggest-moves-after-hours-ford-texas-instruments-las-vegas-sands-and-more.html

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Texas Instruments

Stocks making the biggest moves after hours: Texas Instruments, Las Vegas Sands and more

Check out the companies making headlines after the bell: Shares of Texas Instruments rose more than 1 percent after the bell Wednesday following their mixed earnings report. The chipmaker earned $3.72 billion in revenue, slightly lower than the $3.75 billion estimated by Wall Street. Earnings per share were $1.26, which beat forecasts by 2 cents. Shares of Las Vegas Sands dropped more than 2 percent after the market close based on earnings released Wednesday. The casino stock missed on the top and bottom lines. The company earned $3.48 billion in revenue for its fourth quarter vs. the estimated $3.53 billion. Earnings per share were $0.77, lower than the $0.84 estimated by analysts. The so-called vice stock was in a tailspin to start the week, digging deeper into the red from the past year. Shares of Citrix sank more than 6 percent after hours Wednesday despite their better-than-expected fourth quarter earnings. The software company posted $802 in quarterly revenue vs. the $792 million estimated by Wall Street. Earnings per share were $1.67, higher than the $1.59 estimated. The company posted weak first quarter and 2019 guidance, $1.15-1.20 vs. $1.37 estimated and $6.00 vs. $6.06 estimated, respectively. Shares of Xilinx jumped more than 8 percent after hours. The company announced record revenues of $800 million for its third quarter, up 7 percent from last quarter and up 34 percent year over year.

https://www.cnbc.com/2024/01/19/analyst-calls-all-the-market-moving-chatter-from-wall-street-friday-morning.html

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Texas Instruments

Friday's analyst calls: Nvidia the winner from Meta's AI push, chip stock upgrade

(This is CNBC Pro's live coverage of Friday's analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) Chipmakers were in focus among analyst chatter early Friday. UBS raised its rating on Texas Instruments, noting it expects a better for the stock going forward. Meanwhile, Wells Fargo called Nvidia the winner from Meta Platforms' AI spending push. Check out the latest calls and chatter below. All times ET. 8:48 a.m.: Pactiv Evergreen restructuring paying off, initiated at buy at Jefferies Packaging maker Pactiv Evergreen is a cheap stock with a "clear path To unlock value," Jefferies analyst Philip Ng said in initiating coverage with a buy rating and $18 price target (27% upside). PTVE is 2% higher premarket Friday. Pactiv's "great value" is underscored by its 11.3% free cash flow yield, at the same time as it is "still in the early innings of its turnaround" using a "retooled portfolio," Ng wrote Friday. Jefferies is counting on Pactiv drawing a higher P/E multiple as a result of an improved balance sheet. CEO Michael Green has been on the job for almost three years and his "restructuring initiatives [are] already driving better returns," Ng wrote. — Scott Schnipper 8:39 a.m.: Mizuho names Mondelez International and Kraft Heinz top large-cap food picks Mondelez International and Kraft Heinz are investors best bets in the large-cap food space for 2024, according to Mizuho. Managing director John Baumgartner listed the pair as his two top picks among large food stocks for the new year. Both have buy ratings from the company. Mondelez, the maker of Oreo and Ritz, is Baumgartner's growth pick. His $83 price target implies a 13.8% upside. The company was able to advance what Baumgartner called a "very under-appreciated global revenue growth story" in 2023. For the 2024 fiscal year, he said the company's revenue and earnings per share growth should once again outperform the long-term algorithm. "Although MDLZ's growth in developing markets is unlikely to sustain +20% again in FY24, we believe new distribution growth and associated market share gains help to limit downside risks should category growth slow more than expected," he said. "Further, we expect ongoing contribution from cost efficiencies to fund reinvestment and provide incremental support for EPS growth." Baumgartner selected Kraft Heinz as his best large-cap growth idea. He has a $43 target for the stock, reflecting an upside of 16.2%. More active and profitable retail merchandising can boost Kraft Heinz's North American market, the analyst said, while international markets could see 5% growth. He's also watching for any information about new overhead cost efficiencies. Both stocks have inched higher since 2024 kicked off, but the pair diverged in 2023. While Mondelez jumped more than 8% last year, Kraft Heinz slid more than 9%. — Alex Harring 8:21 a.m.: Evercore ISI upgraded IBM, cites 'underappreciated AI tailwinds' Investors may be overlooking IBM's AI opportunities, according to Evercore ISI. Analyst Amit Daryanani upgraded the technology company to an outperform rating, citing "underappreciated AI tailwinds" that should boost the company's consulting and software businesses. "We think as Enterprises look to deploy AI tools to enhance productivity – the process will be complicated and messy, furthermore we think data security and not running enterprise data on public LLM models will be a key focus – IBM with their unique set of consulting and software assets can help solve this bottleneck and enable enterprise customers to deploy AI tools on and off premise more seamlessly," he said in a Friday note. Looking ahead, the analyst expects IBM to benefit from enhanced enterprise IT spending to improve productivity, anticipating a lift in demand for its Watsonx software suite. Demand for AI could also bring its consulting practice to a $1 billion business. Given this outlook, Daryanani lifted the firm's price target to $200 from $165 a share, reflecting 20% upside from Thursday's close. Shares gained more than 2% before the bell. — Samantha Subin 8:19 a.m.: Bank of America downgrades Celsius, citing stronger energy drink competition Energy drink stock Celsius may be close to hitting a wall, according to Bank of America. Analyst Jonathan Keypour downgraded the beverage stock to neutral from buy, saying in a note to clients that the company's recent sales slowdown could be a sign that renewed competition is hurting momentum for Celsius. "CELH US sales continue to be very strong with considerable opportunity supported by rising consumer awareness. However, it remains unclear if recent market share and velocity (dollar sales per points of distribution) declines are merely seasonal or not. With Monster (MNST) pushing to expand Reign Storm and reclaim lost Bang distribution, and Red Bull maintaining strong marketing, competition could weigh on growth this year," the note said. Shares of Celsius have nearly doubled over the past 12 months, but the stock peaked in September and has struggled since then. Bank of America has a price target of $65 per share on Celsius, which is less than 10% above where the stock closed on Thursday. The price would still put Celsius at a valuation premium compared to Monster, the note said. — Jesse Pound 8:03 a.m.: Block is on track for 'best-in-class' EPS growth, BMO Capital Markets says BMO Capital Markets thinks Block could be on pace for exceptional earnings growth moving forward. The firm reiterated Block stock as a top pick for 2024 alongside an outperform rating and a $84 per share price target on Thursday. BMO's forecast implies more than 30% upside from Thursday's $64.47 close. The stock has slipped nearly 17% from the start of the year. "We continue to expect SQ to deliver best-in-class EPS growth (doubling through 2025E, with further meaningful growth in 2026E) and sequential improvement in SQ's adjusted operating margin throughout 2024E (reaching 13% by 4Q24E)," analyst Rufus Hone said. — Brian Evans 7:53 a.m.: Buy beat-down AT & T, Oppenheimer recommends Oppenheimer sees multiple reasons for optimism on AT & T despite underperformance. Analyst Timothy Horan upgraded the telecommunications giant to outperform. His $21 price target shows the potential for shares to rally 28% in the next 12 months, which would be a reprieve from recent losses. "T has underperformed the market and peers the past few years as the company underwent a difficult transition to position itself as a pure connectivity provider," Horan wrote to clients Friday. "We believe these headwinds have moved to the rearview, and the stock is set to benefit from a number of tailwinds." These tailwinds include: "Massive" improvements to both wireless and wireline network capacity and coverage, which can drive up average revenue per user. Improvements in broadband subscriber and revenue trends, helped by fiber builds and Fixed Wireless. The potential to merger DirecTV with Dish. Expense reduction that has in turn helped free cash flow and the balance sheet. "Attractive" valuation at 15% free cash flow and 7% dividend yields. Shares of AT & T advanced 1.4% in Friday premarket trading. The stock has fallen more than 2% in the new year, deepening losses after sliding almost 9% in 2023. The stock has dropped all of the last four completed calendar years. That marked its longest annual losing streak since a seven-year period between 1999 and 2005. — Alex Harring 7:23 a.m.: Marvell dethrones Nvidia as Citi's top semi pick Citi has swapped out Nvidia for Marvell Technology as its favorite semiconductor stock. Analyst Atif Malik moved Marvell to the No. 1 spot. Malik has a buy rating and price target of $75, reflecting an upside of 10% from Thursday's close. "We like the stock setup in 2024 on continued AI optics growth, layering of custom ASIC AI project sales, and bottoming out of noncloud markets like enterprise networking and carrier," he told clients in a Friday note. Meanwhile, he bumped Nvidia, an artificial intelligence darling and member of the "Magnificent 7," down to the second-favorite stock slot. His downgrade follows a run of more than 20% in shares heading into a popular trade show and the expiration of the firm's positive catalyst watch. Both stocks have performed well recently. Marvell has climbed more than 13% so far in the new year, building on 2023's advance of nearly 63%. Nvidia has added more than 15% in 2024, adding to last year's whopping return of almost 239%. Marvell shares rose 1.7% before the bell on Friday. NVDA MRVL 1Y mountain MRVL and NVDA in past year — Alex Harring 7:03 a.m.: 2024 is the 'Year of the Temu', Bernstein says Bernstein reiterated PDD Holdings as its top Chinese internet stock pick for the new quarter while shouting out its increasingly popular e-commerce brand. Analyst Robin Zhu raised his price target on U.S. shares of the Chinese company by $10 to $180, now implying an upside of 26.7% over Thursday's close. He also has an outperform rating on the stock. Zhu called 2024 the "Year of the Temu," a reference to PDD's online marketplace. He said Temu continues to grow above expectations in China and can outperform Wall Street estimates for 2024. The analyst said there's a case to make for expecting more upside to shares in the new year, even after the stock climbed more than 79% in 2023. To be sure, shares have pulled back almost 3% in the new year. "Even amid a challenging environment for China top-down, we don't think it's ambitious to call for PDD valuation to go from a low teens multiple of domestic 2024E profits to a similar multiple of 2025E profit," Zhu wrote to clients. When looking at Temu specifically, Zhu said 2024 can be the year the business "grows beyond brown envelopes sent via air" and expands in new markets. But Zhu said aggregate user subsidy levels should fall as markets mature. And the analyst said he may reexamine Temu's valuation if quarterly losses peak or if embattled retailer Shein goes public. — Alex Harring 6:59 a.m.: Loop Capital hikes Netflix price target, says 'dominance is becoming even clearer' Loop Capital sees even more upside ahead for Netflix as its leadership in the streaming space crystalizes. Managing director Alan Gould raised his price target by $35 to $535, now reflecting the potential for shares to rally 10.2% from where they ended Thursday's session. Gould also reiterated his buy rating on the streaming giant. "The rationalization of the streaming industry is starting and NFLX's dominance is becoming even clearer," he wrote to clients Friday. "As the traditional studios pivot their strategy from profit to growth, not only is the competition raising subscription prices and reducing content spend, but they are again licensing content to NFLX — even DIS and HBO." Gould noted the stock's recent outperformance, with Netflix shares up about 42% from the company's last earnings report. By comparison, the Magnificent 7 and S & P 500 have climbed around 7% and 11%, respectively, in the same period. Looking ahead, Gould said that the fourth quarter should be the first since 2021 that Netflix reports double-digital revenue growth, a feat he said is largely due to subscriber gains instead of an increase in annual revenue per user. This comes as Netflix has cracked down on password sharing. Gould is also expecting strong guidance for the first quarter, citing quality shows. "We continue to recommend NFLX despite the strong stock move," he said. That's because of "our view that the competitive environment is improving, consolidation should eliminate some competition, and these factors should lead to upside bias in future estimates." Gould is more bullish than many on Wall Street, as the average price target of analysts polled by LSEG is $484.42. The highest price target for Netflix is $600, per LSEG. — Alex Harring 6:50 a.m.: Near-term upside hindered for Hertz by EV repair and depreciation challenges, Jefferies says Troubles with electric vehicles is just one of many challenges for Hertz , according to Jefferies. Analyst Harold Antor downgraded the stock to hold from buy and slashed his price target by $4 to $8. Antor's new target price implies a downside of 11%, while his old forecast reflected an upside of 33.5%. "EV repair issues, higher opex and DPU will limit near-term profitability," he wrote to clients, using acronyms for electric vehicle and depreciation per unit. "Given the remediation of these issues are neither simple nor quick, we don't have a ton of conviction in even our reduced 2024 EBTIDA estimate, limiting near-term upside." Antor lowered his 2024 EBITDA estimate by 35% to around $500 million. While he said that valuation appears cheap for the stock, he has "limited confidence" in estimates for 2024 and 2025 after two consecutive quarters of major misses to Wall Street expectations There's also a "lack of visibility" on when elevated expenses tied to electric vehicles, operating expenditures and depreciation will start moderating, the analyst added. Notably, the company announced earlier this month that it would sell about one third of its electric vehicle fleet amid a strategy shift. He said 2024 will be a "transition year" for the company as it battles headwinds. Shares slipped 1.5% before the bell on Friday. The stock has dropped about 13.5% in January, taking another leg down after tumbling 32.5% in 2023. — Alex Harring 6:06 a.m.: HSBC becomes less bullish on Discover as earnings forecast sours HSBC moved to the sidelines on Discover as the earnings outlook became less optimistic. Saul Martinez, the firm's head of U.S. financials research, downgraded the bank to hold from buy and cut his price target by $14 to $107. Martinez's new target reflects the potential for upside of 10.3%, down from 24.7% with the previously expected level. His downgrade came Thursday, when Discover posted $1.54 in GAAP EPS, down from $3.74 a year prior. Discover's stock finished the session down more than 10%. Following the report, Martinez reduced his 2024 and 2024 forecasts for EPS by 9% and 15%, respectively. He anticipates deterioration in the loan growth outlook that should weigh on net interest income, while also noting that credit losses should peak in the first half of 2024 at a high rate. "The reductions largely reflect a softer outlook for loan growth, driving a sharp reduction to our net interest income (NII) estimates," he said. "We also expect much higher net charge offs (NCOs) and some uncertainty persists about the extent to which compliance and risk costs pressure total expenses." Ultimately, he said the new rating reflects a challenging environment with slower loan growth, higher credit losses and increasing expense levels. But he noted the sale of Discover's student loan portfolio, a return to share buybacks and the eventual easing of credit pressures can all help the stock. — Alex Harring 5:42 a.m.: Buy DraftKings amid correction, Stifel says Stifel doesn't want investors to miss an ongoing opportunity to buy into DraftKings . Analyst Jeffrey Stantial upgrade the sports betting stock to buy from hold and raised his price target by $5 to $45. Stantial's new price target implies shares can jump 19.9% over the next year from Thursday's close. While admitting others may not agree, Stantial said to take advantage of a slight pullback from the late 2023 highs. With near-term headwinds such as seasonality as ESPNBet promotions fading, he said investors can now focus attention on fundamentals such as healthy same-state growth rates, marketing and promotional discipline and efficiencies in fixed costs. Taken together, he said these fundaments can drive up what he deemed an "already impressive" path for guided EBITDA. "Our timing here is not without controversy, as we approach a potential hold-driven Q4 miss & Flutter U.S. listing," he wrote to clients. "However, we prefer to own into forthcoming market share stabilization/inflection vs. waiting to de-risk these catalysts, while valuation appears attractive on our fine-tuned estimates." Shares popped 1.6% in Friday premarket trading following Stantial's Thursday upgrade. Despite the recent correction, the stock has gained about 6.5% since the start of 2024. That builds on 2023's rally of more than 200%. DKNG 1Y mountain DKNG in past year — Alex Harring 5:37 a.m.: Wells Fargo calls Nvidia 'clear beneficiary' of Meta's AI push Artificial intelligence darling Nvidia got another feather in its cap after Wells Fargo donned it a winner of Meta's push into the technology. Analyst Aaron Rakers called Nvidia "the clear beneficiary" following a Thursday video update from Meta CEO Mark Zuckerberg about the Facebook parent's use of AI. During the call, Zuckerberg shared plans to have about 350,000 H100 graphics processing units, which Nvidia makes, by the end of 2024. Alternatively, he said the fellow Big Tech company could seek around 600,000 equivalent processors to the H100. Zuckerberg's update comes as Nvidia, a member of the "Magnificent 7," continues to rally. Shares have climbed more than 15% so far in January, extending gains after surging almost 239% in 2023. More broadly, he called the Meta chief's update a sign of "continued positive validation that the AI infrastructure buildout remains in its early innings." — Alex Harring 5:37 a.m.: UBS upgrades Texas Instruments Texas Instruments investors should see a better performance from the stock this year after a lackluster 2023, according to UBS. UBS raised its rating on Texas Instruments to buy and increased its price target to $195 from $170. The new forecast implies upside of nearly 17% from Thursday's close. "We believe it should be among the first to see orders inflect higher given less reliance on distribution (i.e. for TXN there is very little lag time between orders and revenue turning higher) and TXN also has cleaner comps and fundamentals as it was one of the few companies not to employ supply agreements during the peak," wrote analyst Timothy Arcuri. "The stock trades on orders and FCF – both of which look set to inflect positively," he added. The analyst also raised its revenue forecast for 2024 and 2025. Shares were up nearly 2% after the upgrade. Texas Instruments rose just 3.2% in 2023, lagging the semiconductor sector and the S & P 500. — Fred Imbert

https://www.cnbc.com/id/31174851

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Texas Instruments

Texas Instruments Shares Jump on Boosted Guidance

Revenue is expected to be between $2.3 billion and $2.5 billion. Analysts, on average, are expecting a profit of 10 cents per share on sales of $2.21 billion, according to a poll by Thomson Reuters. In April, the company forecast a second-quarter profit of 1 cent to 15 cents a share. The company's previous revenue estimate was between $1.95 billion and $2.4 billion. Texas Instruments' shares, which closed Monday at $19.77 , were up more than 4 percent in after-hours trading. Click here for after-hours Texas Instruments quotes.

https://www.cnbc.com/id/28035491

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Textron

Lightning Round OT: Hertz, Textron and More

Textron : Textron’s a “don’t buy” right now, Cramer said, because of its financial exposure. National Fuel Gas : Cramer likes Kinder Morgan Energy Partners better than NFG. Energy Transfer Partners is also favored, though that stock was up $2 Wednesday. Questions for Cramer? madmoney@cnbc.com Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

https://www.cnbc.com/id/28641033

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Lightning Round OT: DirecTV, Textron and More

DirecTV : Don’t buy, Cramer said. He does like DTV, but in this environment Cramer wants recession-resistant stocks and dividend yields for protection. Textron : Textron had some problems with its financial division, Cramer said, so he wants to wait for that to pan out before recommending the stock. Zhongpin : Cramer won’t recommend this Chinese stock right now. Sell, sell, sell, he said. Join Cramer live in the studio for Mad Money: The State of Cramerica, a special town hall-style show on Wednesday, Jan. 21. Get your free tickets here! Questions for Cramer? madmoney@cnbc.com Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

https://www.cnbc.com/id/21189893

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Textron

Textron Agrees to Buy United Industrial for $1.1 Billion

Diversified manufacturer Textron said Monday it had agreed to buy United Industrial in a deal valued at $1.1 billion, in a move to strengthen its aerospace and defense businesses. Textron has agreed to make a cash tender offer for all outstanding shares of United Industrial common stock at $81 each. It expects to complete the acquisition by the end of the year. The price is a 7% premium to United Industrial's close on Friday at $75.62. The deal value includes UIC stock expected to be issued to bondholders under terms of a $120 million, 3.75% convertible senior notes issuance in September 2004. JP Morgan advised United Industrial on the deal.

https://www.cnbc.com/id/43808095

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Stocks to Watch: Abbott Labs, Winn-Dixie, Textron and More...

Stocks struggled for direction at the open Wednesday, after a sharp rally in the previous session, as materials and consumer staples put pressure on the market despite hopes that U.S. lawmakers will reach a deal to raise the debt ceiling and a handful of strong earnings results. The Dow Jones Industrial Average bobbed in and out of positive territory, after ending sharply higher in the previous session. Here are six stocks that are on the move: Abbott Labs The pharmaceutical company reported a higher than expected second quarter profit fueled by strong sales growth in emerging markets and demand for its arthritis drug. ---------- St. Jude Medical The medical device maker posted a lower second quarter profit on restructuring related charges, but did see sales growth. ---------- Winn-Dixie The supermarket was upgraded to buy from hold at Jefferies. ----------- Johnson Controls The auto parts supplier’s third quarter profit dropped 15 percent, but still posted double digit growth on its top line. ----------- Intuitive Surgical The medical equipment company was upgraded to neutral from sell at Goldman Sachs while raising the price target to $370 from $282. ---------- Textron The aircraft, defense, industrial and finance firm posted a higher than expected second quarter profit, helped by cost cutting at its helicopter and industrial units. ______________________________ Get the latest stock picks on the CNBC Stock Blog.

https://www.cnbc.com/2024/03/08/stocks-making-the-biggest-moves-premarket-cvna-gps-lly-ubs-and-more.html

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Stocks making the biggest moves premarket: Carvana, Gap, Eli Lilly, UBS and more

Check out the companies making headlines before the bell. Carvana — Shares gained more than 5% after RBC upgraded the stock to sector perform from underperform. The firm cited a reasonable valuation and a favorable setup for unit acceleration. MongoDB — Shares fell more than 8% after the company issued disappointing first-quarter and full-year guidance Thursday. Meanwhile, MongoDB beat fourth-quarter expectations. The database software maker posted adjusted earnings of 86 cents per share on revenue of $458 million. Analysts had called for earnings of 47 cents per share and $433 million in revenue, according to LSEG. DocuSign — The stock rallied 8.4% after the company beat expectations and gave positive first-quarter guidance. DocuSign reported fourth-quarter adjusted earnings of 76 cents per share on revenue of $712 million for the period. According to analysts surveyed by LSEG, Wall Street had expected earnings of 64 cents per share on $699 million in revenue. Li Auto — U.S.-traded shares of the Chinese EV-maker gained 1.7% after Deutsche Bank initiated coverage with a buy rating on the stock and named it a top pick. Deutsche said Li Auto's market positioning could be a catalyst for the stock. Gap — The apparel retailer's stock jumped 8% after earnings came well above Wall Street's forecasts for the latest quarter. Gap posted earnings per share of 49 cents on $4.3 billion in revenue, while analysts had called for earnings of 23 cents per share on $4.22 billion in revenue, according to LSEG. The company's Old Navy brand returned to growth for the first time in more than a year. UBS — U.S.-listed shares of the Swiss bank advanced more than 4% after Morgan Stanley upgraded the stock to overweight from equal weight. Morgan Stanley said a rise in investment banking activity could boost UBS. Marvell Technology — Shares declined 6% after the company posted light first-quarter revenue guidance of $1.15 billion. Meanwhile, analysts polled by LSEG expected $1.37 billion. The data infrastructure semiconductor products supplier also reported weaker-than-expected guidance for adjusted earnings in the first quarter. Broadcom — The semiconductor stock shed 1.6% after the company reported full-year revenue guidance that came in-line with analysts' expectations. For the fiscal first quarter, Broadcom reported adjusted earnings of $10.99 per share, while analysts polled by LSEG had expected $10.29 per share. Revenue came out at $11.96 billion, topping the consensus estimate of $11.72 billion, per LSEG. Textron — Shares rose 1.7% premarket following a Bank of America upgrade to buy from neutral. Textron offered strong revenue growth outlook and a strong balance sheet that supports buybacks, according to BofA. Samsara — Shares surged about 14% after the internet-of-things company reported strong quarterly results, and issued better-than-expected first-quarter and full-year guidance. In its fourth quarter, Samsara said it earned 4 cents per share, excluding items. Revenue of $276 million surpassed the $258 million consensus expectation, LSEG said. New York Community Bancorp — Shares of the regional bank rose 2% in premarket trading after Moody's Ratings announced that it had changed the direction of its ratings review. NYCB's credit rating is now under review for upgrade after securing $1 billion in financing this week. Eli Lilly — Shares slipped 1% premarket after the U.S. Food and Drug Administration delayed approving its Alzheimer's drug, donanemab. The drug was expected to gain approval this month, and is instead expected to be further reviewed for safety and efficacy by an independent advisory committee. Costco — Shares sank 4% a day after the warehouse club reported a revenue miss for its fiscal second quarter. Revenue came in at $58.44 billion, compared with the $59.16 billion expected from analysts polled by LSEG. However, Costo's earnings per share topped estimates. — CNBC's Sarah Min, Michelle Fox and Jesse Pound contributed reporting.

https://www.cnbc.com/2024/03/08/stocks-making-the-biggest-moves-midday-nvda-mrvl-cost-lly.html

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Stocks making the biggest moves midday: Nvidia, Marvell Technology, Costco, Eli Lilly and more

Check out the companies making headlines in midday trading. Nvidia — Shares fell 5.6% as Nvidia took a breather from its winning streak. Earlier in the session, the stock notched a new 52-week high. The chipmaker has gained 7% week to date and is headed for its ninth-straight winning week. Marvell Technology — The chip company sank more than 11% on light first-quarter earnings and revenue guidance. Marvell Technology said it anticipated adjusted earnings of 23 cents per share for the first quarter, below the 40 cents expected by analysts polled by LSEG, formerly known as Refinitiv. Carvana — The e-commerce car platform climbed more than 7% after RBC Capital Markets upgraded shares to sector perform from underperform, citing a reasonable valuation. Costco — The stock slipped 7% after the warehouse club reported revenue of $58.44 billion for its fiscal second quarter, below the $59.16 billion consensus estimate, per LSEG. However, earnings per share beat expectations. Eli Lilly — Shares of the pharmaceutical company fell 2.3% after the U.S. Food and Drug Administration postponed approving its Alzheimer's drug known as donanemab. An independent advisory committee is expected to further review the drug. Broadcom — The chip stock came under pressure, falling 7% as semiconductor names suffered a sell-off and gave back some of their 2024 gains. The decline came even after Goldman Sachs reiterated its buy rating on Broadcom, saying investors should buy the dip. Textron — Textron rose 2% after Bank of America upgraded the aircraft manufacturer to a buy rating, citing its strong revenue growth outlook. MongoDB — The database software company fell nearly 7% after issuing lighter-than-expected guidance for the first quarter and full year. Despite the disappointing guidance, MongoDB topped estimates in its latest quarter, posting adjusted earnings of 86 cents per share on revenue of $458 million. Gap — Gap rallied more than 8% on strong holiday-quarter results . The retailer posted earnings of 49 cents a share on $4.30 billion in revenue, topping the 23 cents per share and $4.22 billion in revenue expected by analysts polled by LSEG. The company also said its Old Navy brand returned to growth for the first time in over a year. New York Community Bancorp — Shares of the regional bank dipped 6.6% even after Moody's Investors Service announced it placed NYCB on "review for upgrade." The stock is still well above its lows of the week on Wednesday, which came before NYCB announced a $1 billion capital raise. Samsara — The internet of things stock jumped 14% after Samsara beat revenue expectations in its fourth quarter and rosy guidance on revenue. Samsara posted $276 million in revenue, compared to analysts' expectations for $258 million, per LSEG. DocuSign — The stock added 4.5% after the company, which provides electronic signature products, beat fourth-quarter earnings expectations and gave positive first-quarter guidance. DocuSign reported adjusted earnings of 76 cents per share on revenue of $712 million for the period. Analysts polled by LSEG had called for earnings of 64 cents per share on $699 million in revenue. Amylyx Pharmaceuticals — The pharmaceutical stock cratered more than 82% after announcing that its ALS drug failed to meet its goal in a late-stage trial. Amylyx Pharmaceuticals said it may pull the drug from the market . UBS — U.S.-listed shares of the Swiss bank rose more than 3% after Morgan Stanley upgraded the stock to overweight from equal weight. Morgan Stanley said a rise in investment banking activity could boost UBS shares. Li Auto — U.S.-listed shares of the Chinese auto company slipped less than 1% even after Deutsche Bank named the stock as a top pick . The Wall Street firm called Li Auto "the sweet spot of the automobile electrification mega-trend in China." — CNBC's Yun Li, Jesse Pound, Pia Singh, Sarah Min, Michelle Fox and Hakyung Kim contributed reporting.

https://www.cnbc.com/2024/03/08/analyst-calls-all-the-market-moving-wall-street-chatter-from-friday.html

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Textron

Friday's analyst calls: General Electric gets upgraded, Deutsche names a top Chinese EV pick

(This is CNBC Pro's live coverage of Friday's analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) An industrial giant and Chinese electric vehicle play were in focus among Friday's analyst calls. JPMorgan upgraded shares of General Electric to overweight. Meanwhile, Deutsche Bank initiated Li Auto with a buy rating. Check out the latest calls and chatter below. All times ET. 8:30 a.m.: Melius ups estimates on Advanced Micro Devices, calls stock the 'Nvidia-Mini' Melius Research upped its price target on shares of Advanced Micro Devices to $265 from $192, citing improving data center prospects. "With a chip optimized for the inferencing explosion, AMD is just getting going as AI models move into production," wrote analyst Ben Reitzes. "While our rapid revisions look like misprints – it shouldn't be all that surprising since you saw what happened with Nvidia last year when buying picked up." Shares of Advanced Micro Devices have surged 43% so far in 2024, with the firm's price target implying another 25% upside. He anticipates the company's MI300X product to benefit as AI enters its inferencing phases. Reitzes likened AMD's chart to a "mini-Nvidia on a delay," but said that its progress shouldn't have an "adverse impact" on Nvidia's momentum given the AI darling's dominant position in the market and the large total addressable market. "Nvidia continues to do AMD and everyone else a favor by expanding the market and driving awareness," he said. — Samantha Subin 8:18 a.m.: Citi hikes price target for Instacart Instacart has the runway to continue its hot start to the year, according to Citi. Analyst Ronald Josey reiterated a buy rating on Instacart and raised the price target to $42 per share from $36, citing improved visibility into orders. The new target is more than 20% above where the stock closed Thursday. "While we acknowledge competition is ramping across the online grocery sector, we believe Instacart's longstanding partner relationships, its deep technology integrations, and order history create significant competitive advantages," Josey said in a note to clients. The valuation for instacart remains attractive even if its growth profile is not eye-popping, according to Citi. "Growth remains below that of its online grocery peers, but with shares trading at ~10x our '25 EV/EBITDA, we believe the risk-reward is favorable as execution continues to improve," the note said. The stock has already jumped more than 40% year to date. — Jesse Pound 7:34 a.m.: Bank of America downgrades Vail Resorts on weak visitation Despite improving snow conditions, Vail Resorts isn't seeing a strong rebound in visitation, Bank of America said. The bank downgraded the ski resort to neutral from buy, citing a more challenging setup from here. Analyst Shaun Kelley sees a risk to Vail's full-year guidance due to the weak visitation and a risk to its 2025 estimates as its year-over-year organic growth is slower than anticipated. Vail had already narrowed its guidance to the lower half of its original guidance after the season got off to a weak start. "We think this was predicated on trends improving through the season, which now seems optimistic given 1) Placer visitation to domestic resorts is -8% Y/Y since the early season update, and 2) recent Inntopia mountain lodging data shows winter (Nov-April) occupancy -6% Y/Y," Kelley said. He also lowered his price target to $250 from $285, suggesting nearly 11% upside from Thursday's close. — Michelle Fox 7:31 a.m.: Bank of America upgrades aircraft manufacturer Textron to a buy rating Textron has room to fly higher, according to Bank of America. The bank upgraded shares of the aircraft manufacturer to a buy rating from neutral. Textron stock has popped 12% this year, but the bank's updated price target of $105, up from $85, implies that there is still room for a further 16% upside. "Textron has been one of our better performing large caps YTD, up 12.31% (vs. S & P 500 +8.17%). However, concerns around Industrials, falling bizjet demand, and poor defense sentiment have peaked, translating into a multiple that is roughly one standard deviation below the historical average," wrote analyst Ronald Epstein. "Our higher multiple accounts for 1) stronger Aviation performance despite the post-COVID demand decline, 2) efforts to consolidate costs at Industrial, and 3) a robust Systems pipeline that should materialize in stronger outyear growth," Epstein said. Due to the company's aging portfolio and possible future budgetary cuts, Epstein provided the caveat that his relative multiple remains below Textron's historical average. One catalyst the analyst cited was a strong outlook this year for the aviation industry. And although industrials remain underappreciated by the market, Textron is making the right moves to cut costs and unlock underlaying business value such as through reducing headcount, Epstein said. "Fundamental conditions remain strong, and demand and utilization remain above historical norms," he wrote. "Near-term revenues are buffered by an already robust backlog. We now expect 2024 revenue growth of 13.6% Y/Y." Meanwhile, the company plans to prioritize share buybacks through 2024, an approach which should be well-received by investors, the analyst added. — Lisa Kailai Han 7:08 a.m.: Goldman Sachs upgrades Coinbase, pointing to crypto tailwinds Shares of Coinbase could continue to rally alongside the crypto market, according to Goldman Sachs. The investment bank upgraded shares of the cryptocurrency exchange platform to a neutral rating from sell, citing bitcoin's moves to all-time highs as a catalyst. Increased retail participation has pushed Coinbase's daily volumes to between $3 billion to $5 billion, levels not seen since 2021, analyst Will Nance said. Shares of Coinbase have rallied 40% this year, alongside the broader cryptocurrency market. Nance's 12-month price target of $282, up from $170, implies that there could be another 16% to go. "We attribute the outperformance in shares to the significant increase in crypto prices, as well as the company's commitment to managing towards more consistent profitability over time, which we had underestimated," the analyst wrote. "While we still see limited use cases for crypto at present, the 'beta' to the price action has significantly outweighed any alpha from not seeing an acceleration in retail adoption over time." The company's renewed commitment to increasing profitability while controlling expenses presents another tailwind. Coinbase could also benefit from higher interest rates, due to the firm's revenue shares in interest income. Nance also attributed Coinbase's outperformance to more focused regulation in the crypto market. "Ultimately this regulatory crackdown has benefited Coinbase given its historical focus on regulatory compliance, manifested in trading market share gains over this timeframe (despite a dramatically smaller market)," he wrote. — Lisa Kailai Han 6:58 a.m.: D.A. Davidson upgrades MongoDB, sees room to rally D.A. Davidson sees positive upside ahead for MongoDB . The firm upgraded shares of the database stock to a buy rating from neutral. Analyst Rudy Kessinger accompanied this move by raising his price target to $430 from $405. Shares of MongoDB are fractionally higher this year. Kessinger's updated price target indicates that they could edge 4% higher from here. "We are buyers on the weakness as the FY25 guide is very conservative, particularly on implied Atlas growth," the analyst wrote. "We see significant upside to estimates as likely throughout the year & find shares attractive at 13x EV/CY25 Rev with that in mind." Kessinger noted that the firm's first-quarter and full-year guidance for the year 2025 remain on the lower end. "This seems very, very conservative, particularly as consumption growth in FY25 is expected to be similar to FY24, newer products such as Relational Migrator will likely drive stronger new workload acquisition, and mgmt. is accelerating sales capacity additions," he wrote. Furthermore, Kessinger believes that artificial intelligence could be a long-term growth driver for the firm. "Mgmt. noted that it's going to take AI applications being deployed at scale for it to really positively impact their business, which is expected to be 'at least another year' out," he added. — Lisa Kailai Han 6:56 a.m.: Victoria's Secret gets double downgraded by Bank of America Underwhelming comparable sales and weaker-than-expected guidance have Bank of America throwing in the towel on Victoria's Secret . Analyst Alice Xiao downgraded the stock to underperform from buy. She also slashed her price target to $15 from $34. The new target calls for a 16.7% decline. The stock this week has lost more than 36% after the company reported full-year operating income guidance that was well below what the Street expected. VSCO mountain 2024-03-01 VSCO this week "We see risk to F24 sales guidance, as it assumes the broader lingerie market will stabilize in 2H after declining MSD in 1H, as well as the impact of initiatives in sport and technology materializing," Xiao wrote. "We see downside risk to these assumptions should the broader lingerie market continue its secular decline throughout the year given the deflationary shift to less structured, more casual, and multi-functional bras." 6:36 a.m.: Citi cuts Apple price target, moves stock down from top picks Apple's woes aren't likely to evaporate anytime soon, according to Citi. The bank lowered its price target for the tech titan to $220 from $225, implying that shares still have a potential 33% upside from their Thursday closing price of $169. The "Magnificent Seven" member is down 12% so far in 2024, weighed down by weak iPhone sales in the Chinese market. At least in the near term, analyst Atif Malik expects this trend to continue. "We lower our Mar-Q China unit estimates modestly down by 0.4M, or -21% Y/Y from prior -17% on continued weak consumer confidence and Huawei patriotism," he wrote. "We now model total iPhone units flat in CY24 at 231M." However, Malik underscored that premiumization supported by services growth and AI smartphones is enough to justify his buy rating on the stock. Citi also moved Apple down from its previous status as its number-two communications stock pick, "as the upside case of AI adoption in smartphones appears more of a 2025 event," Malik wrote. — Lisa Kailai Han 6:23 a.m.: RBC upgrades Carvana to sector perform from underperform RBC Capital Markets is betting that a bright outlook could push Carvana higher from here. The firm upgraded shares of the automobile e-commerce platform to sector perform from underperform. Analyst Brad Erickson more than doubled his price forecast for the stock to $90 from $45, implying that shares could rise 13% from here. Carvana has already rallied an eye-watering 50% this year. CVNA YTD mountain CVNA year to date "We believe CVNA's recent run has the potential to trade even higher before reasonable valuations may matter again making risk/reward on an Underperform rating infeasible for the foreseeable future," Erickson wrote. The analyst added that an "extremely favorable" setup in Carvana's unit acceleration could push the stock "well above" $100. Meanwhile, he believes that analysts may be underestimating the company's amount of cash generation per car. "Investors routinely note the company burns significant cash/ car when normalizing for quarterly fluctuations in inventory and timing differences between finance receivable originations and sales," he noted. "After spending time with the company, it appears further adjustment below the operating cash flows is necessary to reflect steady state operations and points to modest cash burn in Q3 and cash generation/car in Q4 steady state," the analyst added. Although Carvana owes an estimated $7.4 billion in the next seven years, Erickson believes the company's improvements in per car profitability could provide some leeway to cover future debt costs. "This, combined with any further rise in the stock would become self-reinforcing, enable improving access to refinancing and reduces any lingering future liquidity concerns even further," he added. — Lisa Kailai Han 5:56 a.m.: Oppenheimer downgrades Figs as near-term challenges linger Time to move to the sidelines on Figs , according to Oppenheimer. The firm downgraded shares of the health care apparel company to perform from outperform. Analyst Brian Nagel accompanied this change by removing his price target for the stock, which was previously set to $9. Figs is down 23% this year, but Nagel still doesn't believe the stock has presented an attractive enough entry point for investors to buy in. "While the valuation of FIGS tracks well below recent highs, multiples for shares are not necessarily 'washed out' and still somewhat susceptible to further unfavorable rerating amid prospects for ongoing, nearer-term fundamental malaise," he wrote. While Nagel remains constructive in the long term on Figs, he said the company faces too many internal and external challenges in the near term to ignore. "2024 is shaping up as another post-pandemic, transitional year for FIGS, impacted by stepped up, somewhat 'catch up' related, outsized investment spending, and still sluggish purchasing activity, on the part of core consumers," he wrote. "While we are optimistic that sub-algo trends in 2024 are likely to give way to strengthening dynamics in subsequent periods, we are hard-pressed, at least at this juncture, to envision meaningful upside to current subdued, nearer-term forecasts and guidance for FIGS," Nagel added Nagel thinks these concerns will translate to EBITDA margins slowing to 11-12% in 2024, down from 15.8% in 2023. Additionally, he also expects the company's top-line expansion to be depressed. — Lisa Kailai Han 5:48 a.m.: Morgan Stanley upgrades UBS to overweight, cites pickup in investment banking activity A pickup in investment banking activity could lead to big windfalls for UBS , according to Morgan Stanley. Analyst Giulia Aurora Miotto upgraded the bank stock to overweight from equal weight. U.S.-listed shares of UBS have edged nearly 4% lower this year, but Miotto thinks they could recover as the bank finally realizes the tailwinds from its acquisition of rival Credit Suisse. UBS YTD mountain UBS year to date "2024 and 2025 will be transitional years as UBS executes on the merger with CS," she wrote. "But our analysis suggests that cyclically the stars are aligned for IB and WM to outperform, leading UBS to beat rebased estimates." Miotto expects a strong comeback of the investment banking pipeline in 2024 and 2025, and predicts that cash will flow away from the money market into fixed income first and then equities. "We think these trends are very supportive to UBS's business model and are not captured in consensus yet (we are 20% higher on IBD revenues for UBS)," she added. Meanwhile, UBS' wealth management business is a fantastic driver over the long run. "Long-term, we like the exposure to Wealth management, where we see structural growth coming from global wealth creation, vs a more muted outlook for European banks," the analyst said. — Lisa Kailai Han 5:41 a.m.: Deutsche Bank initiates Chinese electric vehicle manufacturer Li Auto as buy Li Auto looks primed to capitalize on the growing Chinese electric vehicle market, according to Deutsche Bank. The bank initiated coverage of the Chinese electric vehicle manufacturer at a buy rating. Analyst Bin Wang cited the company's market positioning as one of its greatest catalysts and called it a top pick. "Li Auto is the largest 6 / 7 seater vehicles manufacturer in China with a 13.8% market share in 2023, which is the sweet spot of the automobile electrification mega-trend in China," he wrote. Wang noted that the firm is slated to enter the pure electric vehicle market this month with the Mega MPV, its new flagship vehicle. Li Auto also plans to strengthen its position as the second-largest plug-in hybrid electric vehicle maker through the launch of its L6 large-size SUV next month. Li Auto is also emerging as an industry leader in the AI-powered autonomous driving field, Wang added. Additionally, the company had the highest gross margin among China new energy vehicle manufacturers, with the figure coming out to 21.2% in the first half of last year. "This is a result of Li Auto garnering a higher average selling price (ASP) from its 6 / 7 seater vehicle segment exposure and best-of-breed execution efficiency, which leads to a lower-per-unit fixed cost than peers," Wang said. U.S.-listed shares of Li Auto have slipped close to 3% this year. — Lisa Kailai Han 5:41 a.m.: JPMorgan upgrades GE to overweight General Electric has been on a roll recently, and JPMorgan expects the outperformance to continue. The bank upgraded the conglomerate to overweight from neutral. It also hiked its price target to $180 from $166, implying upside of 13%. "It is clear that GE is the premier large cap name in Comml Aero with regard to 1) the business, 2) where that business is in the cycle, 3) the balance sheet, and 4) the mgmt team," analyst Seth Seifman wrote. "Some of this is priced in and valuation is an obstacle ... but it is the only obstacle for us right now and with upside remaining, we think the companys fundamental strength wins out," Seifman added. "Vernova looks promising as well based on rebounding margins and cash flow, as well as diversified exposure to the long-term energy transition." GE shares rose 1% in the premarket following the upgrade. Year to date, they are up more than 30%. DIS YTD mountain DIS year to date — Fred Imbert

https://www.cnbc.com/2024/03/08/stocks-to-buy-on-friday-like-aapl-and-coin.html

TXT

Textron

Here are Friday's biggest analyst calls: Nvidia, Apple, Netflix, Broadcom, Disney, AMD, Coinbase, GE & more

Here are Friday's biggest calls on Wall Street: Oppenheimer downgrades Figs to perform from outperform Oppenheimer said it sees too many challenges for the surgical wear company. "We remain constructive upon longer term prospects for FIGS and the company's shares. That said, nearer-term, we are increasingly concerned that internal and external challenges, which have impacted trends at the company lately, are likely to persist, longer than initially anticipated." D.A. Davidson upgrades MongoDB to buy from hold DA upgraded the stock following earnings on Thursday. "We are upgrading shares of MDB from Neutral to BUY & are raising our PT from $405 to $430. Citi reiterates Apple as buy Citi lowered its price target on the stock to $220 per share from $225 but said it's sticking with Apple. "Maintain buy on structural gross margin expansion due to premiumization supported by AI smartphones and services growth." Barclays initiates Western Alliance as overweight Barclays said the regional bank is one of the best positioned in the firm's coverage. "The names we believe are best positioned within our coverage include WAL, EWBC, and WBS, which each have ample capital, strong credit, and stable funding." JPMorgan upgrades General Electric to overweight from neutral JPMorgan said GE is a "premier" name. "Looking ahead, it is clear that GE is the premier large cap name in Comml Aero with regard to 1) the business, 2) where that business is in the cycle, 3) the balance sheet.." JPMorgan upgrades Kinetic to overweight from neutral JPMorgan said the midstream operator is a "high quality business." "Overall, we upgrade KNTK to OW given attractive growth visibility." Goldman Sachs upgrades Coinbase to neutral from sell Goldman upgraded the stock as crypto prices are surging. "We are upgrading shares of COIN to Neutral from Sell, as crypto prices have surged to all time highs, and COIN daily volumes have reached levels not seen since 2021." Evercore ISI reiterates Alphabet as outperform Evercore said the stock is a new top pick at the firm. "Meanwhile, GOOGL's tech & data assets are clearly among the strongest in the world. And along with negative sentiment on GOOGL shares and cautious management commentary ('larger base') has come seemingly conservative Street estimates." Wells Fargo reiterates Disney as overweight Wells says the stock is "best-positioned" in the ad market. "We see DIS best-positioned and WBD most at-risk." Bank of America downgrades Victoria's Secret to underperform from buy Bank of America double downgraded Victoria's Secret due to too many negative catalysts. "We see risk to F24 sales guidance, as it assumes the broader lingerie market will stabilize in 2H after declining MSD [ mid single digits ] in 1H, as well as the impact of initiatives in sport and technology materializing." Morgan Stanley upgrades UBS to overweight from equal weight Morgan Stanley said in its upgrade of UBS that the "stars are aligned." "Short-term cyclical, long-term structural upside." Wolfe upgrades Gates to outperform from peer perform Wolfe said in its upgrade of Gates that it sees margin expansion for the power transmission company. "We see significant multiple expansion potential driven by growth recovery and better margin/FCF execution." UBS initiates AST SpaceMobile UBS said the space satellite company is well positioned. " AST is pre-revenue, but we believe it will be a leader in the emerging space- to-cellular broadband market - an industry with the potential to generate $10s of billions in annual revenue by providing uninterrupted coverage to traditional mobile devices." Morgan Stanley initiates enGene as overweight Morgan Stanley said in its initiation of enGene that it's a leader in bladder cancer therapy. "We initiate at Overweight with a $40 PT." Bank of America downgrades Petrobras to neutral from buy Bank of America said it's concerned about the lack of dividends for the Brazilian oil company. "In our view, the decision to not announce extraordinary dividends tonight heightens the risk perception at PBR and also suggests that the company could be pivoting to an agenda more focused on growth (leading to higher capex and M & A)." Bank of America reiterates Marvell as buy Bank of America said it's sticking with shares of Marvell following earnings on Thursday. "Legacy under pressure but AI well on track, reiterate Buy." JPMorgan reiterates SentinelOne as overweight JPMorgan added a positive catalyst watch on the cyber security company heading into earnings next week. "We expect strong 4Q results with constructive initial FY25 guidance from SentinelOne when the company reports earnings next week." Piper Sandler reiterates Microsoft as overweight Piper added the stock to its triple select list of top picks. " MSFT is a top ranked stock in the Macro Select model because it possesses the quality fundamental characteristics that typically outperform in similar economic backdrops." Goldman Sachs reiterates Broadcom as buy Goldman said investors should buy the dip in shares of Broadcom . "Although the market may have been looking for a positive revision in management's FY2024 outlook and, as a result, the stock may correct in the near-term, we would recommend investors to use any stock price weakness as an opportunity to add to positions, particularly with the company's robust competitive position in AI and its ability to extract better growth and margins in Software intact." Barclays reiterates Netflix as equal weight Barclays said streaming consolidation is poised to be a bigger win for YouTube than Netflix. "In the case of premium entertainment streaming, as distribution has shifted from being bundled to unbundled subscriptions and consumption has become atomized due to device and service fragmentation, value attribution for each service becomes more explicit." JPMorgan upgrades Teva to neutral from underweight JPMorgan said it sees a "favorable catalyst path" for the pharmaceutical company. "Along these lines, we are taking a more balanced approach to our ratings (which have been negatively skewed) and are moving TEVA from UW to N." Craig-Hallum upgrades Smith & Wesson to buy from hold Hallum said in its upgrade of the gun maker that it has "momentum" into the election cycle. "SWBI continues its deft execution and is entering the election cycle in an optimal position, with lean channel inventory, strong demand tailwinds and improving operating leverage." Bank of America upgrades Textron to buy from neutral Bank of America said in its upgrade of the biz jet company that the stock is undervalued. "Textron has been one of our better performing large caps YTD, up 12.31% (vs. S & P 500 +8.17%). However, concerns around Industrials, falling bizjet demand, and poor defense sentiment have peaked, translating into a multiple that is roughly one standard deviation below the historical averag Bank of America downgrades Vail to neutral from buy Bank of America said the setup looks too challenging for the ski and mountain resort company. "We are downgrading shares of Vail Resorts to Neutral from Buy. We see the setup as more challenging from here given 1) risk to FY24 guidance as visitation remains weak, 2) risk to FY25 estimates as MTN's Y/Y organic growth is slower than anticipated..." Deutsche Bank initiates Li Auto as buy Deutsche said the China auto company is a top pick. " Li Auto i s the largest 6 / 7 seater vehicles manufacturer in China with a 13.8% market share in 2023, which is the sweet spot of the automobile electrification mega-trend in China." RBC upgrades Carvana to sector perform from underperform RBC said the risk/reward is improving for Carvana shares. "We believe 1) any return to more meaningful unit growth will likely get fully if not overly extrapolated in the stock with additional amplification possible from the heavy short interest, 2) the company's cash generation/car may be better than many investors realize." Melius reiterates Advanced Micro Devices and Nvidia as buy Melius said it doesn't see Advanced Micro Devices having any impact on Nvidia's momentum but that it likes both stocks. Melius also called AMD a "Nvidia-Mini" and Melius raised its price target on the stock to $265 per share from $192. "However, we don't believe AMD will have an adverse impact on Nvidia's momentum as the TAM is larger and Nvidia is the industry's driving force."

https://www.cnbc.com/2023/07/06/citi-says-buy-this-aircraft-maker-with-more-than-30percent-upside.html

TXT

Textron

Citi says buy this aircraft maker with more than 30% upside

Citi thinks aircraft maker Textron is due for a rebound after underperforming thus far in 2023. The bank initiated coverage of the stock with a buy rating. Its price target of $90 implies shares rallying 34% over the next 12 months. "We are constructive on revenue and earnings visibility given recent backlog growth, particularly in the company's Aviation and Bell segments," analyst Jason Gursky wrote in a Wednesday note. Textron's valuation has already priced in a recessionary environment and reduced business jet demand, according to Gursky. He added that a growth in private travel post-pandemic and tight industry supply should allow Textron and its peers to "effectively manage supply/demand dynamics." Current wait lists for new aircraft stretch to more than two years, he noted — resulting in up to 360% backlog growth for Textron since 2019. To be sure, he said that Textron's industrial segment does not have much "connective tissue" across its various assets, which include automotive, aerospace and leisure. "That said, management does not seem to have starved any of the assets of capital and the ability to invest in new products – which does allow the segment to grow," Gursky said. A rise in military spending should also create tailwinds for Textron's defense-oriented Bell and Systems segment, added the analyst. Shares are down more than 5% year to date, lagging the S & P 500's 15.8% jump in that time. TXT YTD mountain TXT in 2023 —CNBC's Michael Bloom contributed to this report.

https://www.cnbc.com/2024/02/19/china-to-display-comac-c919-at-singapore-airshow-what-else-to-expect.html

TXT

Textron

China will showcase its domestic jetliner at the Singapore Airshow. Here's what else to expect

A model of Comac's C919 aircraft at the Singapore Airshow on Feb. 6, 2018. SeongJoon Cho / Bloomberg / Getty Images SINGAPORE — China is gearing up to showcase its narrow-body passenger jet to a global audience for the first time at the Singapore Airshow. Touted as a competitor to Boeing's 737 and the Airbus 320, the Comac C919 is quickly turning out to be one of the most anticipated features at this year's event. The commercial aircraft was developed by the Commercial Aircraft Corporation of China, or Comac, and certified by the Civil Aviation Administration of China in September 2022. "Flying for the first time at the Singapore Airshow, is the C919, a narrow-body airliner developed by Chinese aircraft manufacturer Comac," Singapore Airshow organizer and manager Experia Events said in a statement. The air show, held from Feb. 20 to 25 this year, is typically attended by tens of thousands, including military delegations and aviation enthusiasts, and will be open to the public. Aerospace and aviation industry bellwethers including Airbus , Boeing , Comac and defense contractors such as Lockheed Martin , Dassault , SAAB , Leonardo , Thales are among those participating at this year's event. watch now "Generally what to look for is a focus on China with the C919 making its international debut. The Singapore Airshow is a fantastic opportunity for Comac particularly given the current situation with Boeing," Brendan Sobie of Sobie Aviation told CNBC. Sobie noted that this year's air show could be significant as it can be seen as "a symbol of Asia's recovery." Aerial acrobatics and more The Singapore Airshow will feature the largest number of foreign flying teams this year, according to organizer Experia. The first edition of the exhibition, one of Asia's biggest aerospace events, was first held in 2008. The Indian Air Force's Sarang aerial display team, which flies modified helicopters, will be performing aerial acrobatics. Others include the Royal Australian Air Force's Roulettes, the Indonesian Air Force's Jupiter and the Republic of Korea Air Force's Black Eagles. The United States Air Force's B-52 Stratofortress will make a flypast on Feb. 22, according to the organizer. Among commercial aircrafts, Airbus will be showcasing its large widebody A350-1000 model at the air show. The French manufacturer will also have static displays of helicopters, military aircraft as well as its wide-body commercial jet, the A330neo. Its key rival Boeing will not be featuring any passenger jets at the air show. There won't be many announcements of big commercial plane orders by airlines this year, as the focus will mostly be on defense aviation and private jets, analysts told CNBC. "On a global level, the gap with the Dubai Airshow, which has really grown and become big for order announcements, has widened over the last several years, thwarting Singapore's earlier aspirations to become the third major global show after Paris and Farnborough," Sobie told CNBC. The event will also host private jet makers including Cessna maker Textron , Gulfstream, Jet Aviation. It will also feature "advanced air mobility," an emerging mode of air transportation which can be in the form of air taxi services, cargo delivery, medical and emergency response transportation and private vehicles. Air taxis are small planes that can land and take off vertically, and are mostly used for short distances. Companies such as Hyundai-owned Supernal, Boeing-owned Wisk and Beta Technologies will be among those featuring their flying taxis. Improving air traffic

https://www.cnbc.com/id/24185899

TMO

Thermo Fisher Scientific

Hedge Fund Favorites: Thermo Fisher

To start, the company just got FDA approval for a test that detects the deadly staph superbug – an illness that is reaching epidemic proportions in parts of the U.S. And it doesn’t end there. Thermo Fisher and the broader lab equipment sector are tapped into a sea chance of sorts as 78 million baby boomers anticipate more doctor visits as they grow older. That’s why the fastest money on the Street has put TMO under the microscope – and they like what they see. ______________________________________________________ Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to fastmoney@cnbc.com. Trader disclosure: On Apr. 17, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Najarian Owns (AAPL), (BIIB), (CSCO), (ETFC), (NOK), (TSO), (XLF), (YHOO), (BSC) Calls, (CHK) Calls, (COP) Calls, (GOOG) Calls, (MSFT) Calls, (POT) Calls; Finerman’s Firm Is Short Pounds, (IYR), (IJR), (SPY), (IWM), (MDY), (COF), Owns (BJS), (MO), (MSFT), (NYX), (SUN), (TSO), (VLO), (YHOO); Finerman Owns (GS); Finerman’s Firm and Finerman Own (FLS); Macke Owns (MSFT), (DIS), (YHOO), (INTC) Charles Schwab Is A Sponsor Of "Fast Money" GE Is The Parent Company Of CNBC NBC Universal Is The Parent Company Of CNBC

https://www.cnbc.com/2024/04/19/a-troubling-trend-is-brewing-this-earnings-season-here-is-jim-cramers-remedy-.html

TMO

Thermo Fisher Scientific

A troubling trend is brewing this earnings season. Here is Jim Cramer's remedy

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. (We're no longer recording the audio, so we can get this new written feature to members as quickly as possible.) Markets drop: There was another attempt to lift the market at the beginning of Friday's session, but it failed once again, putting the S & P 500 on track for a six-day losing streak. We keep pointing out that the rallies are happening too early in the session, leading the initial buyers to get caught by scalpers looking to make a quick trade. Volatile markets like this are when patience matters. We're still waiting for that truly ugly open before stepping up our buys. Until we see that crescendo, the oversold market means stay opportunistic but be gradual. That's been our approach this week, with our most-recent trade being a small buy of Estee Lauder on Thursday morning. Bad week for tech : Tech is getting hit hard again Friday, capping off a week in which the Nasdaq 100 fell by more than 5%. The biggest drag in the sector, by far, is Super Micro Computer . Shares of the artificial intelligence server maker were down as much as 20% Friday for a reason you don't see too often: The company hasn't preannounced earnings yet. Super Micro's stock has been one of the biggest winners in the market over the past couple of years due to the rapid construction of data centers around the world. Heavy investments in AI accelerated this trend. As demand for its rack-scale solutions and liquid-cooled systems surged, Super Micro's quarters kept getting better and better, resulting in earnings preannouncements in seven of the past eight quarters, including in January. Last month, the stock was added to the S & P 500. Entering this week, Super Micro was up more than 200% year to date. With earnings getting close on April 30, the fact Super Micro has yet to give a positive preannouncement is being viewed as negative, according to analysts at Wells Fargo. That doesn't mean Super Micro's quarter won't be good — we can't possibly know. But the recent fall in SMCI on no actual announcement is a reminder of a lesson that we shared earlier this year when markets were steadily making new highs: Always be fearful of parabolic moves and make sure you are taking gains on the way up because those kinds of moves are unstainable. Pockets of green: It's not all negative Friday. There's some pretty good strength in energy stocks, financials, consumer staples, health care, and real estate — a sign of money rotating out of hot momentum names and into other areas in the market. Shares of Club holding Coterra Energy rose nearly 2% on Friday, among the best performers in the portfolio. Do the work: Wells Fargo made a new 52-week high Friday, extending its weekly gains to more than 7%. Wells Fargo's strength follows a negative reaction to its first-quarter earnings report last week , even though the results were quite good. That's a theme we've noticed so far this earnings season. There's so much information coming out that sometimes the market gets sloppy and focuses on the wrong things, leading to misread results and ridiculous stock reactions. Fellow Club holdings Constellation Brands and Abbott Laboratories belong in this group, too. The lesson? Don't let the tape be the judge of a quarter. Instead, read the earnings materials and conference calls yourself because doing the work will help you spot opportunities. "It's important to have confidence in investing. But confidence comes from doing the homework," Jim Cramer said Friday. Next week: Rest up over the weekend for an earnings barrage. Roughly 30% of the S & P 500 and 11 Dow components report earnings next week. Among the headliners are a trio of portfolio stocks — Alphabet , Microsoft and Meta Platforms — and beaten-up Tesla . But there are plenty of other big reports to sink our teeth into. Club holdings Danaher , Ford Motor , and Honeywell International are scheduled to report along with Verizon , Cadence Design , Nucor , UPS , GE Aerospace , PepsiCo, RTX , Halliburton , Thermo Fisher Scientific , ServiceNow and Chipotle , among others. Check your email inboxes and texts Saturday morning for a breakdown on what we're expecting from the six Club stocks set to report this coming week. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. (We're no longer recording the audio, so we can get this new written feature to members as quickly as possible.)

https://www.cnbc.com/2022/08/16/lone-pine-capital-reveals-new-positions-in-alphabet-and-paypal.html

TMO

Thermo Fisher Scientific

Lone Pine Capital reveals new positions in Alphabet and PayPal, dumps Snap

Hedge fund Lone Pine Capital built large new positions in several tech stocks during the second quarter, according to a securities filing. Lone Pine, founded by Tiger Management veteran Stephen Mandel more than two decades ago, added Booking Holdings , Alphabet and PayPal to its portfolio in the second quarter, according to securities filings. Booking was the largest of the positions at the end of June, valued at roughly $415 million. It is unclear exactly when Lone Pine made the stock purchases, but its bet on PayPal looks to be a quick success. The payments stock is up more than 40% since the end of June. Outside of tech, the fund also added a $422 million stake in LPL Financial . Lone Pine trimmed some of its largest positions, including Microsoft and ServiceNow . The fund also increased its stake in Facebook-parent Meta by more than a third. Here are Lone Pine's top 10 holdings as of the end of June, according to securities filings and InsiderScore.com. The fund's top six holdings are tech stocks. One non-tech name that jumped into the top 10 was Thermo Fisher Scientific , as Lone Pine scooped up more than 400,000 additional shares of the company. Lone Pine eliminated several positions, including Match Group and Snap . The fund also sold nearly all of its position in Block after buying a lot of that stock during the first quarter .

https://www.cnbc.com/2022/07/22/wall-street-analysts-name-top-stock-picks-for-the-third-quarter.html

TMO

Thermo Fisher Scientific

Wall Street is convinced these stocks will do well this quarter — and Citi gives one 50% upside

Citigroup , Bank of America and Barclays have named a raft of stocks they think could do well in the third quarter, as the specter of a recession continues to loom large in the minds of investors. The S & P 500 has gained about 4.6% so far this quarter, after a first half of the year that saw the index sink into a bear market. But investors are still walking on eggshells ahead of the U.S. Federal Reserve meeting next week, when it is expected to raise interest rates by three-quarters of a percentage point . Despite "considerable" short-term risks, Citi remains positive on equities for now. "Our global strategists remain bullish over the medium term, forecasting a 17% gain for the MSCI AC World to mid-2023," Citi's strategists, led by Robert Buckland, said on Jul. 14. The index is up 3% so far this quarter. Citi's top picks The bank has compiled a list of the bank's high conviction and above-consensus stock picks where "investors can build positions." Tennessee-based automotive parts retailer AutoZone made Citi's list. AutoZone has also historically fared well in recessionary environments, according to Citi. The bank expects the company to continue delivering "sustainable" double-digit earnings per share (EPS) growth, given its stable margin and high incremental shareholder returns. The bank believes the company's "industry-leading" sales and rising market share in the "faster growing" commercial category will drive top-line growth that's better than its peers. Synchrony Financial is another new addition to Citi's list. The bank likes Synchrony's positioning over the next one to three years, high excess capital, and "solid" potential top-and-bottom line growth. Investors are also overly pricing the severity of a potential recession, and there is "significant" upside to Synchrony's share price, Buckland said. Citi has a price target of $50 on the stock, which represents a potential upside of 51.5% to the stock's closing price of around $33 on Wednesday. The bank also likes scientific equipment maker Thermo Fisher Scientific , which it views as one of the top players in its sector and well equipped to weather a recession given its diverse markets . Read more BofA believes we're already in a recession — and says these stocks have what it takes to beat it Morgan Stanley says these global stocks are set for earnings beats — and gives one over 45% upside Citi has a price target of $715 on the stock — the highest among analysts covering the company — according to the bank. That implies a potential upside of 32.7%, based on the stock's closing price of around $539 on Wednesday. Within the Asian equity space, Citi likes Taiwanese electronics contract manufacturer Hon Hai Precision , better known as Foxconn — the world's biggest manufacturer of iPhones. Other picks include Japanese pharmaceutical firm Daiichi Sankyo . Global picks Bank of America also named a number of "out-of-consensus" global stock picks. "Our analysts expect EPS growth of 24% this year for the European companies under their coverage, notably above consensus, at 15%," Bank of America's European strategists, led by Milla Savova, wrote in a note on Jul. 13. The bank's price target for Norwegian energy firm Equinor is 24% above consensus, while its EPS estimates for the firm are 43% and 85% above consensus for 2022 and 2023, respectively. Meanwhile, its price target and EPS estimate for French bank Credit Agricole are 17% and 27% above consensus, respectively. Other stocks that made the bank's list are luxury goods company Hermès and aircraft manufacturer Airbus . Barclays is also bullish on several European stocks. In a Jul. 14 note, Barclays analysts introduced five overweight stocks, with an average potential upside of 39% based on the bank's price targets. The bank's picks include Europe's largest independent oil company Aker BP , German energy firm RWE , and French food company Danone .

https://www.cnbc.com/2022/07/07/citi-top-stock-picks-for-the-second-half-of-2022-.html

TMO

Thermo Fisher Scientific

Citi names its ‘highest conviction ideas’ for the second half of 2022 — and gives one upside of 85%

Citi has named a raft of stocks it thinks could do well in the second half of 2022, as investors continue to navigate market uncertainty and hot inflation. Stock markets suffered steep losses in the first six months of this year as an unrelenting sell-off brought major indexes to their knees. The S & P 500 endured dizzying swings before closing the first half in bear market territory, sending the index to its worst first half performance since 1970. With the second half now underway, investors are gearing up for continued volatility as recession fears mount. That has put stock picking in focus, according to Citi. "Although the equity market is likely to remain in the grips of macro considerations, stock specific differentiation will be a critical focus," Citi's strategists, led by Scott Chronert, said in a report on Jun. 29. "We expect business models to be tested," they wrote, stressing the ability of companies' management to navigate an array of issues such as labor and supply chains. Read more ‘Dividend aristocrats': Strategists name high-yielding stocks to ride out a bear market Wall Street believes these beaten-down global stocks are set for a rebound Wall Street banks name their top global stocks for the second half — and give three over 70% upside Chronert acknowledged rising recession risks and placed the odds of a global recession at 50%. Recession is most likely a 2023 event — if it transpires, he said. Meanwhile, soaring consumer prices continue to weigh on investor sentiment, with decades-high inflation sweeping across several economies, including the U.S., Europe, and parts of Asia. Stocks that can weather higher inflation How should investors position in such an environment? Pricing power, which refers to a company's ability to raise prices without losing business, gives firms an edge amid rising prices. Such companies tend to weather an inflationary environment better than competitors because they can pass on higher costs to customers. Citi's top picks of buy-rated companies with the most pricing power include Estee Lauder , Kellogg , Chipotle and Domino's Pizza in the consumer space, as well as Thermo Fisher Scientific and HCA Healthcare in the healthcare space. The bank also likes Amazon , Microsoft , Atlassian and CrowdStrike in the tech sector. A host of financial stocks turned up on the bank's screen as well, including Allstate Corp , MetLife and Hartford Financial Services. 'Highest conviction' names Citi also compiled a list of its "highest conviction ideas" — the bank's top stock picks. They include chemicals firm Linde , automotive parts retailer AutoZone , Walmart , electronics manufacturer Jabil , wireless operator T-Mobile , cybersecurity firm Fortinet and biotech firm Apellis Pharmaceuticals . Semiconductor equipment manufacturer Lam Research also featured on Citi's list, with the stock enjoying the highest upside to the bank's price target among the bank's top stock ideas. The stock closed at around $389 in Tuesday trading, which represents a potential upside of 85.1% to Citi's price target of $720.

https://www.cnbc.com/2022/05/17/viking-global-adds-to-amazon-position-dumps-fedex-and-tesla-in-first-quarter.html

TMO

Thermo Fisher Scientific

Viking Global builds on Amazon position, dumps FedEx and Tesla in active first quarter

Hedge fund Viking Global shuffled some of its largest holdings during a busy first quarter, including ditching some big-name stocks. The fund, run by Andreas Halvorsen, had roughly $47 billion in assets under management at the end of December, according to its website. Its equity exposure fell by nearly $10 billion during the first quarter, according to a securities filing, but it is unknown how much of that drop was attributable to market losses versus selling stocks to shift to other asset classes. Two big increases among major holdings came in Amazon and industrial tech company Fortive , rising roughly 52% and 42%, respectively. The moves made Amazon the fund's second largest holding at the end of March, trailing only T-Mobile. One big move just outside of the fund's top 10 holdings was International Flavors & Fragrances . Viking ended March with nearly 3.8 million shares of the stock, valued at just under $500 million. That is up from about 510,000 shares at the end of December. Viking also initiated several positions that were worth more than $100 million at the end of March, including Otis , Progressive , Shopify and XP . On the other hand, the list of major positions closed by Viking include Tesla , Twilio , Coupa Software , FedEx and Figs . Twilio and Coupa were the largest of those positions at the end of December, totaling more than $1.4 million in common stock combined. There are no obvious macro or sector calls from Viking's moves, as the trades appear to be more about picking individual winners. For example, the fund established a new position Mastercard worth more than $640 million but also sold more than one-third of its position in Visa . Viking swapped out positions in many of its health-care stocks, such as closing a position in Zimmer Biomet while more than doubling its shares of Thermo Fisher Scientific . There were several new positions for Viking in large name companies that came in under $100 million. Those buys include Boeing , JPMorgan Chase , Anthem and Dollar General . Viking Global was founded by Halvorsen, one of legendary hedge fund manager Julian Robertson's "Tiger cubs," more than two decades ago.

https://www.cnbc.com/2021/05/18/alphabet-was-the-most-widely-held-stock-for-the-largest-esg-funds.html

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Thermo Fisher Scientific

Alphabet was the most widely held stock for the largest ESG funds. Here’s what else they own

In this article ECL TMO MSFT GOOGL ESGU PRBLX Follow your favorite stocks CREATE FREE ACCOUNT Visitors pass by the logo of Google at the high profile startups and high tech leaders gathering, Viva Tech, in Paris, France May 16, 2019. Charles Platiau | Reuters Funds that invest sustainably love tech companies – and Alphabet in particular. MSCI studied the year end 2020 holdings of the 20 largest funds that invest based on environmental, social and governance considerations. These funds account for about 13% of total assets in ESG equity funds. They include active and index-based strategies. The information technology sector of the S&P 500 accounted for the largest allocation in most funds, according to MSCI's analysis. Funds' holdings in these stocks ranged from 3.5% of their assets to more than 37%. Most of the ESG funds in the study had well over 20% of their assets in IT. Meanwhile, energy stocks accounted for a minimal portion of the funds' holdings. This helped the ESG funds outperform last year, as tech rallied while energy declined. Indeed, Google's parent company was held in 12 of the funds — making it the most widely held stock among the participants — with an average weight of 1.9% at year end, according to the study. The next most widely held stocks were Ecolab, Thermo Fisher Scientific and Microsoft . "The largest areas where most funds were invested were tech, industrials and health care," said Rumi Mahmood, senior associate, ESG research at MSCI. "Tech companies have been the ones that have been the best performers. These companies were chosen not because they were tech, but because they fulfilled some sort of ESG criteria." Higher concentration Google's parent was present in more of the ESG funds, but Apple was the stock that accounted for the highest concentration within these portfolios. The funds held Apple at an average weight of 5.6%, followed by Microsoft at 5%. Other top stocks held by ESG funds include Applied Materials , Cadence Design , Adobe and Texas Instruments, according to MSCI's analysis. Mahmood notes that depending on which area it operates in, a tech company may not be as carbon intensive as stocks in other sectors. "There's a large dispersion," he said. Mahmood points out that the largest ESG funds cannot easily be compared since they all have different mandates. However, index-linked funds took in more money last year than actively managed funds. Largest ESG funds The largest ESG fund is the Parnassus Core Equity Fund , which is actively managed and has about $23 billion in assets, according to MSCI's research. Next is the iShares ESG Aware MSCI USA ETF, with $13 billion in assets, according to the report. Rounding out the top three is the Vanguard FTSE Social Index Fund , an index-based fund with $10.9 billion. All three are U.S. based and focus on U.S. assets. Meanwhile, the iShares ESG Aware MSCI USA ETF brought in the most new inflows of the 20 funds in the study, with $7.1 billion in 2020. The iShares Global Clean Energy ETF followed in a distant second with close to $4 billion in new money. Energy holdings

https://www.cnbc.com/2022/05/05/bank-of-america-has-favorite-group-of-stocks-to-ride-market-turmoil.html

TMO

Thermo Fisher Scientific

Bank of America has a favorite group of stocks to ride out the market turmoil

For investors preparing their portfolios for recession risks, one group of stocks in particular is attracting favorable attention from Bank of America analysts. Health care is "well-positioned" to weather market turmoil, according to a recent note. On Thursday, markets declined sharply with the Dow Jones Industrial Average recently losing more than 1,000 points, or 3.2%. The S & P 500 and Nasdaq Composite fell 3.6% and 4.8%, respectively. Still, health-care stocks can offer investors "growth, defense and yield" at a reasonable price, Bank of America analysts said. The sector has outperformed the S & P 500 index in 2022, having declined 8% year to date through Tuesday, against the broader market's 12% loss. "Our U.S. Regime Model is in Late Cycle, during which HC has enjoyed the strongest alpha of all sectors," read the note, referring to health care. "HC also tends to fare well in downturns/recessions, and 2023 recession risks have risen."' Bank of America analysts like health-care stocks because they're trading at a "near-record" discount to the S & P 500. Concerns around greater regulatory risk have weighed on health-care stocks but those fears may now be fully priced in and "overblown," according to analysts. The sector is also second only to technology based on annualized EPS growth since 1986. It's also offering higher yields than the S & P 500, a "rare" occurrence that has only happened three times in almost 40 years. Several health-care names are already heavily overrepresented in investor portfolios. However, Bank of America has its own group of favorite health-care stocks, recently highlighting Humana, Thermo Fisher Scientific , Boston Scientific , Stryker Corporation and CVS Health. Here are health-care names beloved by investors: Some names that are well-represented include UnitedHealth Group , which is in 61% of funds, Cigna , in one-fifth of funds, and HCA Healthcare , which is in 18%. A couple of pharmaceutical companies are also heavily featured in investor portfolios, BoA said. Eli Lilly and Zoetis , for example, are in 40% and 31% of portfolios, according to its screen. Humana is a top pick from Bank of America analysts. Shares in Humana are down 5% year to date after facing several challenges, including a CFO change last year. Still, the company is expected to benefit from rising interest rates and growth in the managed care industry. CVS Health is named another top pick. Shares in CVS Health are down more than 5% in 2022. Still, Bank of America believes the drug store chain is "well-positioned" to execute on its primary care strategy compared to competitors such as Walgreens. Bank of America named 17 small- to mid-cap companies in the sector it also considers buying opportunities. Among them, analysts favored Jazz Pharmaceuticals for its improved finances, and its diversification into different products, including a treatment for sleep disorders. Another small- to mid-cap stock pick is Alnylam Pharmaceuticals , which is developing therapies based on RNA interference. The "attractive" pick for 2022 was down 17% year to date earlier this week. Brendan McDermid | Reuters

https://www.cnbc.com/2022/04/25/mondays-top-wall-street-calls-apple-snowflake-penn-amazon-deere.html

TMO

Thermo Fisher Scientific

Here are Monday's biggest analyst calls of the day: Apple, Snowflake, Penn, Amazon, Deere, AMD & more

Here are Monday's biggest calls on Wall Street: JPMorgan reiterates Apple as overweight JPMorgan said that it sees a "moderate revenue miss" when the Apple reports earnings later this week. "While our prior revision was driven by a modest haircut to both iPhone and Services revenue, the latest revision is completely on account of preliminary smartphone data for C1Q22, which has tracked below expectations as per industry analyst estimates, partially offset by better-than-expected PC shipments for C1Q22." Mizuho reiterates Meta as buy Mizuho said it's concerned about flat ad revenue growth when the Facebook parent company reports earnings later this week. "We recently did a round of checks on FB advertising trends. Key points: (1) The seasonal decline in 1Q22 is about 20% steeper than normal due to macro, continued challenges in iOS privacy, and mix shift to IG Reels; (2) From a vertical perspective, we saw weaknesses in retail, financials and autos that contributed nearly 60% of spending for these ad agencies." Morgan Stanley initiates DoorDash as equal weight Morgan Stanley said in its initiation of the stock that it's already fairly priced. "Our work shows how DASH' s market-leading U.S. restaurant business generates the highest EBITDA/order of any global peer. It drives EBITDA growth while also enabling DASH to reinvest in current/new growth vectors." Citi downgrades Formula One to neutral from buy Citi said that most of the upside in already priced into the stock. "While we continue to believe F1 is a compelling asset that will benefit from healthy top-line growth, we believe most of the upside is priced into the equity at current levels." Stifel reiterates Amazon as buy Stifel said that it's bullish heading into Amazon earnings later this week. "Our 1Q revenue estimate is in line with consensus while our estimate for operating income is slightly ahead. We expect Online Stores sales growth to continue to decelerate in 1Q (-2.0% y/y) against a difficult comp and likely impacted by shifting consumer shopping trends." Jefferies reiterates Salesforce as buy Jefferies said in a note on Monday that the stock is a great long-term buy. "We est. CRM's TAM is $184B in '21 growing to $295B by '25 at 12.5% CAGR. CRM has a portfolio of products that are the market leaders." Morgan Stanley upgrades Penn to overweight from equal weight Morgan Stanley said the gaming company's stock has strong upside. "While we had been concerned about PENN' s theScore's ability to take sports betting/iGaming market share in Canada, our recent proprietary analysis suggests that it is the market leader in app downloads, attractive given that we believe investor share expectations have fallen significantly." Read more about this call here. Morgan Stanley upgrades BioMarin to overweight from equal weight Morgan Stanley said that the pharmaceutical company's pipeline of products should lead to a rerating of the stock. " BMRN has lagged peers due to concerns about its long-term growth potential." Goldman Sachs downgrades Verizon to neutral from buy Goldman said the valuation gap between Verizon and AT & T is widening. "Indeed, we believe that as AT & T shows improved execution and financial performance over the coming quarters this valuation gap with Verizon will compress driving outperformance in AT & T." Goldman Sachs downgrades ThredUp to neutral from buy Goldman said that it sees too many near-term headwinds right now for the online thrift store. "While we are constructive on the long-term revenue growth opportunity for ThredUP in a large & growing TAM, we expect a number of macro headwinds to create uncertainty & increased volatility on a quarterly basis, leaving us with a more muted near-to-medium term outlook." Wolfe initiates Snowflake as buy Wolfe said Snowflake is a "top-grade software portfolio" stock. "For context SNOW is trading at the same multiple that PLAN was acquired by PE for if we look out an extra year. For those looking to 'top-grade' software portfolios, we think that asset is SNOW and the time is now." Read more about this call here. Deutsche Bank downgrades Kellogg to hold from buy Deutsche said in its downgrade of the stock that it's more "cautious." "Although we're encouraged by the structural progress K has made thus far we remain cautious (and below consensus) going into 1Q22 results given carryover impacts from the worker strike across K's U.S. cereal plants in 4Q21 and worsening inflation/supply chain disruptions year to date — not to mention negative Russia/Ukraine impacts and more adverse FX." Read more about this call here. Piper Sandler upgrades GoDaddy to overweight from neutral Piper called website domain company a top defensive idea. "We are upgrading GDDY to Overweight as our best defensive idea with strong FCF potential and a $3B capital return strategy over the next three years that should provide insulation for shares." Truist upgrades AutoNation to buy from neutral Truist said in its upgrade of the auto retailer that it's a "structurally more profitable business post-pandemic." " In our view AN , as one of the largest auto retailers in the country, has always set the standard in the industry in terms of consistent solid execution." Raymond James upgrades Marvell to outperform from market perform Raymond James said the stock that it's become more attractive. "As cyclical and macro factors drive concerns on the broader group, we took a fresh look at MRVL , with an effort to identify both the sources of growth as well as the probability of that growth amid market uncertainty." Raymond James upgrades Advanced Micro Devices to strong buy from outperform Raymond James said in its upgrade of the stock that it's "well positioned" going forward. "As we have become more concerned about cycle risks given potential for slowing consumer demand and elevated inventory levels at customers, we favor those semi companies with strong secular drivers, more muted cyclical exposure and attractive valuations, for which AMD appears well positioned. Wells Fargo downgrades Thermo Fisher to underweight from equal weight Wells said in its downgrade of the scientific instrumentation company that the stock is "expensive with elevated estimates." " Thermo is traditionally a large cap favorite and more or less a consensus buy rating across the Street." Guggenheim upgrades Gap to buy from neutral Guggenheim said in its downgrade of Gap that the company remains in a "strong financial position." "Overall, we see a multitude of potential (even if unlikely) catalysts that could drive value creation for shareholders. While we are not making a call on any of these happening near term, we believe the company remains in a strong financial position and has significant optionality." Bank of America downgrades Deere to neutral from buy Bank of America said the good news is already priced into Deere shares. " Deere 's earnings have not peaked, but we believe that a lot of good news is priced into the stock." Morgan Stanley reiterates Palo Alto Networks as overweight Morgan Stanley said that Palo Alto is poised to to become the first cybersecurity company with a $100 billion market cap. "With a large installed base, strong secular positioning in Cloud Security and improving margins, we think PANW is poised to become the first $100 billion market cap name in cybersecurity within two years." Flags flutter outside a distribution centre, during a strike at Amazon's logistics operations in Italy, in Passo Corese, Italy March 22, 2021. Remo Casilli | Reuters

https://www.cnbc.com/2021/12/01/morgan-stanley-stock-picks-as-impact-investing-takes-off-.html

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Thermo Fisher Scientific

Morgan Stanley says 'impact' investing is about to boom — and screens for stocks to cash in

Morgan Stanley has named a slew of stocks that are well placed for a boom in impact investing, as investors look for positive social and environmental outcomes — not just profit. Impact investing — defined by Morningstar as a strategy that seeks to have a measurable impact on specific issues alongside financial returns — is set to be the fastest growing sustainability strategy over the next 5 years, Morgan Stanley strategists, led by Jessica Alsford, said on Nov. 25. "Intentionality, measurability and financial returns differentiate impact investing from other sustainable investing strategies," she wrote in a note for clients. Impact investing has a "strong growth trajectory" ahead, she added, with assets under management expected to rise from $123 billion in 2020 to almost $700 billion in 2025 in public markets. Stock picks Given this strong growth forecast, the analysts screened for "impact ideas" and devised a list of 165 stocks, with more than half from the healthcare sector. The stocks all have 100% revenue exposure to one of the bank's key sustainability themes, are rated overweight by its analysts and have at least 10% upside to the analysts' price target. Within the health-care sector, stocks that made the bank's list include Abbott , Alibaba Health , Boston Scientific , Novartis , Alnylam Pharmaceuticals , Teleflex and Amerisource Bergen . San Francisco-based Alector , a commercial-stage biotech company working on immuno-neurology treatments, has the highest upside to the bank's price target at 166%, according to Morgan Stanley. Information technology stocks on the screen include MasterCard , Visa , PayPal , Zoom and Xiaomi . E-signature firm DocuSign , cybersecurity specialist SailPoint Technologies , Indian consultant Tata Consultancy and cyber risk management company Tenable also make the list. Brazilian payments provider PagSeguro Digital has the highest potential upside to the bank's price target at 109%, the analysts said. Communication services stocks include Chinese tech titan Tencent , Thai mobile phone operator Advanced Info Service , China Mobile , Hong Kong telecommunications conglomerate PCCW and Singapore-based Starhub . The analysts said the Chinese state-owned telecommunications operator China Unicom has the highest upside to their price target at 75%. Other stocks that make the list include Hong Kong-listed insurer AIA , British packaging company Amcor , Chinese battery manufacturer Ganfeng Lithium , Chinese food delivery behemoth Meituan , U.S. insurer MetLife and online travel firm Trip.com . Article 9 funds The analysts also studied the holdings of Article 9 funds — which have environmental or social goals as their objective — to identify the most commonly held stocks. They noted that these funds tend to be overweight industrials, healthcare, real estate and utilities, and significantly underweight the energy sector versus the benchmark of MSCI AC World All Cap Index. The top five stocks held by the 40 largest Article 9 Funds include chipmaker ASML , French electrical equipment group Schneider Electric , Danish wind turbines manufacturer Vestas , scientific equipment maker Thermo Fisher Scientific and Belgian materials technology group Umicore , Morgan Stanley said. Mastercard credit cards. Benoit Tessier | Reuters

https://www.cnbc.com/2023/02/22/off-price-retailer-tjxs-quarterly-results-show-strong-demand.html

TJX

TJX Companies

Off-price retailer TJX's quarterly results show strong demand. We're unconcerned by a softer profit outlook

Club holding TJX Companies (TJX) reported solid fiscal fourth-quarter 2023 results Wednesday, as stronger-than-expected sales highlighted robust consumer demand for discounted quality merchandise at stores like TJ Maxx. Total revenue advanced 5% year-over-year, to $14.5 billion, exceeding analysts' forecasts for $14.01 billion, according to estimates compiled by Refinitiv. U.S. sales of $11.41 billion also surpassed the $11.03 billion predicted by analysts. Adjusted earnings-per-share (EPS) climbed 14.1% on an annual basis, to 89 cents, in line with analysts' estimates provided by Refinitiv. Bottom line It was an overall decent quarter for the off-price retailer, with total revenue, same-store sales and operating cash flow exceeding expectations. The Marmaxx division — which includes department stores TJ Maxx and Marshalls — was the highlight of the quarter, posting impressive 7% same-store-sales growth year-on-year in the U.S. for its strongest quarter of fiscal 2023. Moreover, the company on Wednesday said it's "well-positioned to take advantage of the outstanding availability of quality, branded merchandise in the marketplace and flow fresh merchandise to its stores and online this spring." Though earnings matched consensus estimates, it appears analysts' forecasts would have been exceeded if not for higher-than-expected "shrink," or theft at stores. Management initially anticipated a 0.5 percentage point pretax profit margin benefit versus the prior year, but instead realized a 0.6 percentage point shrink charge. The bottom line was also impacted by foreign currency dynamics, which resulted in a 3-cent-per-share headwind. TJX's earnings guidance for its first quarter of the fiscal year 2024 and for the full fiscal year came up slightly short, in part due to higher-than-expected capital expenditures for new stores, remodeling, and relocations. But revenue guidance exceeded expectations, demonstrating strong consumer demand. Given the strong top-line guidance, the likelihood that management is guiding conservatively on earnings, and its confidence in achieving a 10.6% pretax margin by fiscal year 2025 — 10 basis points ahead of expectations — we are undeterred by the lighter bottom-line outlook. As a result, we reiterate our 1 rating , while raising our price target to $88-per-share, up from $84. Guidance On the full year guide, management is embedding an $800 million benefit due to a 53rd week in fiscal year 2024. On the pretax margin, management expects lower freight costs, better buying and strategic retailing to result in an 80-basis-point to 100-basis-point tailwind that will more than offset the headwinds of "incremental wage and supply chain costs." The full year outlook also includes an expected pretax margin benefit of about 10 basis points and a diluted earnings benefit of roughly 10 cents per share, due to the 53rd week in fiscal 2024. Excluding this benefit, management expects to realize a pretax margin of 10% to 10.2% and earnings in the range of $3.29 to $3.41 per share. Management continues to target a pretax profit margin of 10.6% in fiscal year 2025, slightly ahead of the 10.5% rate Wall Street had predicted. TJX on Wednesday also said it would repurchase roughly $2 billion to $2.5 billion worth of shares in fiscal 2024. In addition to the $1.5 billion remaining under the previous share repurchase authorization, the board authorized another $2 billion worth of stock to be purchased. At the same time, the company raised its quarterly dividend by 13%, to roughly 33 cents a share, which should be officially declared in March and payable in June. Quarterly results Total fiscal fourth-quarter U.S. same-store-sales* rose 4% year-over-year, well ahead of the high end of the "flat to up to 1%" guidance range management provided the quarter prior. That was driven by a 7% same-store-sales increase at Marmaxx, which was partially offset by a 7% same-store-sales decrease at the HomeGoods division. On a constant currency basis, sales at TJX Canada were up 10% year-over-year, while sales at TJX International — which includes operations in Europe and Australia — were up 11% annually. Meanwhile, management said that on a per-store basis, as of Jan. 28, inventories were up 1% year-over-year, or 2% on a constant currency basis. Thanks to robust cash flow generation, management was able to return $791 million to shareholders — $450 million via the repurchase of 5.7 million shares and the remaining $341 million through dividends. In total, TJX bought back $2.26 billion worth of stock in fiscal 2023. * Note: TJX defines same-store-sales as sales at stores that have been in operation for all of, or a portion of, two consecutive fiscal years. This excludes new stores, stores closed permanently or those closed for an extended period of time, as well as e-commerce. (Jim Cramer's Charitable Trust is long TJX. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. A shopper carries a bag outside a TJ Maxx store in New York, U.S. Victor J. Blue | Bloomberg | Getty Images

https://www.cnbc.com/2023/05/17/stocks-making-biggest-premarket-moves-wal-tjx-wynn-tsla-and-more.html

TJX

TJX Companies

Stocks making the biggest premarket moves: Western Alliance, TJX, Wynn, Tesla & more

Check out the companies making the biggest moves in premarket trading: Western Alliance — Shares popped 12% premarket after Western Alliance said its deposit growth for the current quarter exceeded $2 billion as of May 12, up from the $1.8 billion in deposit growth for the quarter through May 9. TJX Companies — Shares fell about 1% after the retailer reported a revenue miss before the market open. First-quarter revenue came in at $11.78 billion, less than the $11.82 billion expected from analysts polled by Refinitiv. TJX also guided for second-quarter earnings per share of 72 cents to 75 cents, versus the 79 cents anticipated by analysts. Full-year guidance also fell short of estimates, even as first-quarter EPS topped estimates. Target — The big-box retailer's stock was down less than 1% in volatile trading as the company surpassed earnings expectations in the fiscal first quarter, even as sales barely grew year-over-year. Target also said it expects sales to remain sluggish in the current quarter, marked by a single digit decrease in comparable sales. The retailer stuck with its previous full-year guidance. Zions Bancorporation — The Salt Lake City-based bank added 4.7% as regional banks moved higher in premarket trading, led by Western Alliance. The SPDR S&P Regional Banking ETF was up 1.7%. Keysight Technologies — Shares soared 7.8% following an earnings beat after the bell Tuesday. The tech company reported adjusted earnings per share of $2.12 for its fiscal second quarter, topping the $1.95 expected by analysts, per StreetAccount. It guided for between $2.00 and $2.06 EPS for the current quarter, above analysts' forecast of $1.96. Tesla — Shares rose 1.5% Wednesday premarket. The company held its annual shareholder meeting Tuesday, during which CEO Elon Musk announced the company would deliver its first Cybertrucks later this year and would start to advertise. Wynn Resorts — The casino operator added 2.7% after an upgrade to overweight from equal weight at Barclays. The Wall Street firm cited the continuing recovery in Wynn's Macao properties and boosted its price target to $135 from $120, suggesting 31% upside from Tuesday's close. EVgo — Shares sank nearly 9% premarket following the EV charging network operator's announcement late Tuesday of a $125 million offering of its common stock. JPMorgan, Evercore and Goldman Sachs are underwriting the offering. Doximity — The medical software stock dropped nearly 10% premarket, one day after the company issued weak guidance for the current quarter. Doximity said it expects between $106.5 million and $107.5 million in revenue for the fiscal first quarter, less than the $111.8 million anticipated by analysts polled by FactSet. It guided for $40 million in adjusted EBITDA, below the $45.4 million expected. — CNBC's Yun Li and Hakyung Kim contributed reporting.

https://www.cnbc.com/select/best-car-insurance-texas/

TJX

TJX Companies

These are the 4 cheapest and best Texas car insurance companies

Best overall Allstate Auto Insurance Learn More Cost The best way to estimate your costs is to request a quote App available Yes Policy highlights Allstate offers auto insurance customers a total of 14 discounts in addition to a pay-per-mile car insurance program. It offers quotes by phone, through an agent, or online. The company also offers a number of other insurance products to bundle your coverage and save. Pros Quotes available online Cons Slightly above average NAIC complaint index Learn More View More Who's this for? Allstate offers competitive coverage for Texas residents looking for affordable coverage from a well-known insurer. Standout benefits: Allstate offers online quotes for those who are shopping around. It offers several discounts, including discounts for bundling your coverage, owning a new car and discounts for students. Allstate also has pay-per-mile car insurance available in Texas that could be a good fit for those who drive less, including those who use alternative transportation or work from home. Average annual Texas sample premium: $391 [ Jump to more details ] Texas Farm Bureau Auto Insurance Learn More Cost The best way to estimate your costs is to request a quote App available Yes Policy highlights Texas Farm Bureau's auto insurance is a strong choice for Texas residents, as it's earned accolades for customer satisfaction and offers relatively affordable rates compared to those we considered. Pros Highly rated for customer satisfaction Cons Quotes not available online Learn More View More Who's this for? As its name suggests, Texas Farm Bureau Insurance is available exclusively to residents of the Lonestar State. It is highly rated for customer satisfaction by J.D. Power in the state. Standout benefits: Texas Farm Bureau Insurance offers discounts for those who have gone without a claim in three years, a discount for students under age 25 with a B average, and a discount for vehicles with factory-installed safety features, among other discounts. Average annual Texas sample premium: $406 [ Jump to more details ] Best from a big-name insurer Farmers Insurance Learn More Cost The best way to estimate your costs is to request a quote App available Yes Policy highlights Farmers sells car insurance in every state except Alaska, Delaware, Hawaii, Maine, New Hampshire, Rhode Island, Vermont, Washington, D.C., and West Virginia and offers a whopping 23 discounts. Terms apply. Pros Offers 23 types of discounts Below-average NAIC complaints Ability to bundle coverage with other products Cons Not all discounts are available in every state Average premium for maximum coverage is higher than the national average Learn More View More Who's this for? Farmers stood out for its competitive rates in Texas, compared to the other big-name companies we considered. Standout benefits: For those who have a Farmers homeowners insurance policy, this insurer could be even more competitive with a bundling discount. Average annual Texas sample premium: $470 [ Jump to more details ] Best for military members and veterans USAA Auto Insurance Learn More Cost The best way to estimate your costs is to request a quote App available Yes Policy highlights USAA's auto insurance is available in all 50 states, Washington D.C. and some international locations. In addition to low rates and coverage options for unique circumstances, such as for active-duty members, customers have access to an intuitive mobile app. Terms apply. Pros Lowest average premium for minimum coverage Highest customer satisfaction ranking Superior discounts for military members Cons Only available to military members, veterans and their immediate family members Learn More View More Who's this for? USAA offers those who have served in the military (and their qualifying family members) relatively affordable car insurance rates along with strong records for financial strength and customer satisfaction. Standout benefits: USAA's car insurance rates and coverage are consistently competitive, and we've highlighted the brand as one of the best for those with military affiliations. Average annual Texas sample premium: $456 [ Jump to more details ] More on our top Texas car insurance companies Allstate Allstate stood out for its competitive rates, resulting in it being the lowest average of the companies we considered. Its strong ratings for financial strength and customer satisfaction make it a standout in terms of quality, too. A.M. Best Rating A+ J.D. Power score (Overall Customer Satisfaction Index Ranking) 813.4 out of 1,000 NAIC complaint index (Average is 1) 1.02, about average [ Return to summary ] Texas Farm Bureau Insurance Texas Farm Bureau Insurance has been selling insurance policies since 1952. The company also offers homeowners insurance, farm and ranch insurance and life insurance. A.M. Best Rating A- J.D. Power score (Overall Customer Satisfaction Index Ranking) 824 out of 1,000 NAIC complaint index (Average is 1) 0.15, lower than average [ Return to summary ] Farmers Farmers is one of the largest insurance companies in the country. It offers competitive prices in addition to a generous number of discounts, making it an affordable option for many Texas drivers. You can save on coverage by enrolling in paperless billing, bundling other insurance products, paying premiums on time and completing other tasks. A.M. Best Rating A J.D. Power score (Overall Customer Satisfaction Index Ranking) 801.5 out of 1,000 NAIC complaint index (Average is 1) 2.81, higher than average [ Return to summary ] USAA While it's only available to those affiliated with the U.S. military, generally including military members and their spouses and children, USAA's auto insurance is a strong option for those who are eligible. It's consistently one of our top picks and offers competitive rates in Texas. Members have access to many discounts, including multi-vehicle and multi-policy discounts, a good student discount and a legacy discount. A.M. Best Rating A++ J.D. Power score (Overall Customer Satisfaction Index Ranking) 877 out of 1,000 NAIC complaint index (Average is 1) 0.34, lower than average [ Return to summary ] FAQs How much is car insurance in Texas per month? Car insurance in Texas tends to cost between $32.58 per month and $39.17 per month, based on the companies we analyzed. However, this is only liability car insurance, or coverage that would protect you financially from damage you cause. To repair or replace your car after an accident or a natural disaster, you'll need full coverage car insurance, which adds collision and comprehensive coverage. Who has the cheapest car insurance in Texas? According to the data we gathered, Allstate offered the most affordable car insurance coverage in Texas, with Texas Farm Bureau Insurance a close second. How can I lower my car insurance in Texas? It's possible to lower the amount you'll pay for car insurance with a few tips: Work on your credit. Your credit score can be used in calculating your auto insurance prices. In general, the higher your credit score, the lower your auto insurance rates. Raising your credit score could help lower your car insurance bill. Your credit score can be used in calculating your auto insurance prices. In general, the higher your credit score, the lower your auto insurance rates. Raising your credit score could help lower your car insurance bill. Bundle with other insurance coverages. Several top insurers offer more than just auto insurance. Whether you rent your home or own it, bundling your renters insurance or homeonwers insurance could help you save. If you have other things to cover, like an RV, motorcycle or a boat, consider bundling them with your auto insurance for more savings. Several top insurers offer more than just auto insurance. Whether you rent your home or own it, bundling your renters insurance or homeonwers insurance could help you save. If you have other things to cover, like an RV, motorcycle or a boat, consider bundling them with your auto insurance for more savings. Pay your premiums in full. Some insurers offer discounts for paying in full rather than paying monthly. If you can cover the cost upfront, it could be worth it. Bottom line Texans have many options when it comes to insuring their vehicles. To find the right one for you, get several quotes with the same levels of coverage and deductibles and compare the premiums. Subscribe to the CNBC Select Newsletter! Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here. Why trust CNBC Select? At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every auto insurance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of auto insurance products. To research the best auto insurance companies, we compiled data points on more than a dozen auto insurance companies. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best Texas auto insurance companies. Our methodology To determine the best car insurance companies in Texas, CNBC Select analyzed several insurance companies offering car insurance coverage in the state. When narrowing down and ranking the best car insurance companies, we focused on cost with a sample premium, coverage, ease of use, customer satisfaction ratings from J.D. Power, financial strength ratings from A.M. Best and complaint indexes from the National Association of Insurance Commissioners. Sample premium data was gathered from the Texas Department of Insurance's Helpinsure.com tool, and was based on liability coverage with limits of $50,000 per person in injury coverage, $100,000 limit for all injuries, and $50,000 for property damage. We focused on premiums for a single male driver who: Is 30 years old Drives 18,000 miles per year, mostly for work Has no violations or accidents on their record Drives a car (rather than a truck) We considered sample premium data from several Texas cities and gathered sample premium data for the same driver with the qualifications above in Katy (Fort Bend County), El Paso (El Paso County), Frisco (Collin County), Grand Prairie (Dallas County) and Mckinney (Collin County). These were averaged to create the state average annual sample premium. After reviewing the above features, we sorted our recommendations by the best overall and runner-up, best for military members, veterans and their families, and best from a large insurer. Note that the premiums and policy structures advertised for car insurance companies are subject to fluctuate in accordance with the company's policies. Catch up on CNBC Select's in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date. Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

https://www.cnbc.com/2023/06/29/thursdays-biggest-analyst-calls-on-wall-street.html

TJX

TJX Companies

Here are Thursday's biggest analyst calls: Nvidia, Micron, Netflix, Amazon, Disney, TJX, Pfizer and more

Here are Thursday's biggest calls on Wall Street. Morgan Stanley upgrades Freyr Battery to overweight from equal weight Morgan Stanley said "recent share price underperformance and greater transparency around execution has improved the risk/reward" for Freyr. "We see next 3-6 months as a catalyst window for unlocking shareholder value." Read more about this call here. Goldman Sachs reiterates Micron as buy Goldman said it's standing by its buy rating on the chipmaker after its earnings report Wednesday. "To the market's surprise, Micron provided a much better-than-feared FY4Q (August) revenue and earnings outlook as the biggest concern shared by many investors ahead of the print — i.e. share loss in China associated with the recent ruling by the Cyberspace Administration of China — is expected to fully materialize over multiple quarters, per management." JPMorgan reiterates Amazon as overweight JPMorgan said it's bullish heading into Amazon Prime Day in July. "We project Prime Day will drive incremental revenue of ~$5B, up +13% Y/Y from the ~$4.4B of incremental revenue Amazon disclosed for last year's Prime Day in 3Q22." Bank of America reiterates Nvidia as buy Bank of America said it sees "AI networking upside" after a meeting with company management. "We virtually attended a meeting hosted by NVDA CFO Collette Kress and SVP of Networking Gilad Shainer, detailing NVDA' s $60bn AI networking TAM and impacts from potential US DoC trade restrictions." JPMorgan downgrades Citizens Financial to neutral from overweight JPMorgan said it's concerned about commercial real estate loan losses. "In addition, Citizens is being pressured by high losses on its CRE loans due to high level of maturities of office CRE loans in 2023 and 2024 — it recently increased its outlook for 2Q NCOs (net charge off's) to 40ish bp range." Citi opens a positive catalyst watch on Netflix Citi raised its price target on Netflix to $500 per share from $400 and said it's bullish heading into earnings in mid-July. "Our update makes us more bullish on the Ad Tier. We now expect 82 million new subs and $10.6 billion of incremental revenue. However, we continue to believe the Paid Sharing may add very little incremental revenue." Read more about this call here. UBS reiterates Warner Music as hold UBS said artificial intelligence remains a risk for the music distributor. "That said, WMG's revenue growth has recently been below industry levels due to a delayed release slate and a choppy advertising market. The impact of AI has also weighed on the group, a risk we expect the industry to manage through but remain an overhang for now." Deutsche Bank adds a catalyst call buy on Oshkosh Deutsche Bank said it sees a "material EPS beat this quarter" for the specialty truck company. "OSK has underperformed the group materially YTD, registering a 6% decline in its share price vs. an 11% median gain for our coverage universe. But we see the potential for the company to deliver a material EPS beat this quarter, as management gets its execution back on track after a difficult 2021-22." Piper Sandler initiates TJX Companies as overweight Piper said the discount retailer is a top idea for the second half. "Execution here has remained consistently strong, and we see an opportunity for TJX to benefit in 2H as industry promotions normalize." KeyBanc downgrades Disney to sector weight from overweight KeyBanc said Parks expectations are too high. "While this note might call the bottom, we have our doubts, as: 1) DIS Domestic Parks expectations appear high; 2) DIS DTC subscriber growth has stalled, and DIS has failed to differentiate its DTC churn vs. peers." Read more about this call here. Loop downgrades RH to hold from buy Loop downgraded the stock mainly on valuation. "Our downgrade is based on RH's current valuation as opposed to a more bearish view of the company's fundamentals." Credit Suisse downgrades Pfizer to neutral from outperform Credit Suisse said it sees too much uncertainty for the pharma giant. "As Pfizer enters a period of uncertainty and limited pipeline catalysts, we see greater opportunity for growth among other US Major peers." Read more about this call here . Bank of America reiterates Spotify as buy Bank of America raised its price target on the stock to $185 per share from $165 and said it's bullish heading into earnings in late July. "We remain bullish on SPOT's long-term potential, which should benefit from improvement in advertising and deeper penetration in existing markets. Furthermore, management's recent commentary and actions on expenses should improve the business' underlying margin trajectory." Deutsche Bank reiterates Pentair as buy Deutsche Bank said Pentair is more than just a pool company. "We see PNR as being unfairly penalized for being a 'resi name' amid a backdrop with recession concerns. Oppenheimer initiates C3.ai as perform Oppenheimer said the stock has run too far, too fast. "Due to ChatGPT and all-time-high interest in AI, C3.ai's stock is up ~200% YTD vs. S & P 14%. We are sidelined as C3.ai's risk/reward is relatively neutral at 16x '24E FV/revenue vs. its five-year average of 5.7x.

https://www.cnbc.com/2022/11/16/tjx-hits-an-all-time-high-as-reason-we-own-off-price-retailer-played-out-in-the-quarter.html

TJX

TJX Companies

TJX hits an all-time high as reason we own off-price retailer played out in the quarter

Club holding TJX Companies (TJX) reported stronger-than-expected fiscal third-quarter 2023 earnings and U.S. sales before the opening bell Wednesday, boosting shares of the off-price retailer by nearly 4% to an all-time high. The inventory glut at full-price chains played out as we had expected, proving to be a boon to TJX, whose brands include T.J. Maxx, Marshalls and HomeGoods. Adjusted earnings-per-share of 86 cents beat expectations by 6 cents and were well above management's own EPS guidance of between 77 to 81 cents due to certain expenses previously expected to be realized during Q3 were pushed out to the fourth (current) quarter. The adjusted number also excluded a 5-cent per share tax benefit related to the divestiture of the company's minority investment in Russian low-cost apparel retailer Familia. While global revenue dropped 3% year-over-year to $12.17 billion and was a bit short of estimates of $12.3 billion, U.S. sales of $9.4 billion, down 1% annually, exceeded the $9.23 billion expected. Bottom Line It was a solid quarter from TJX, and management was able to reiterate the midpoint of their full year fiscal 2023 guidance range, despite needing to trim the high end of the range due to an estimated currency headwind that had not been previously factored into the forecast. While U.S. customer traffic was down in the quarter, management noted that it improved sequentially and improved throughout the quarter. Moreover, the average basket size in the U.S. increased. Speaking to the inventory glut at full-price retailers, TJX management said on their post-earnings call, "The marketplace is absolutely loaded with quality branded merchandise across good, better and best brands." As a result, the team added that they believe they're entering its fourth quarter in a strong position "to take advantage of the tremendous buying environment and to flow fresh exciting assortments to our stores and online this holiday season." Given those tailwinds, along with TJX being the place to shop for a more price-sensitive consumer due to a slowing economy and normalizing household balance sheets, we're raising our Club price target on the stock to $84 per share from $74. That reflects roughly 24x fiscal 2024 (calendar year 2023) earnings estimates, a slight premium to the slightly greater than the 22x five-year average multiple. However, that's a premium we believe is warranted considering how incredibly supportive the operating environment is for TJX's business model. Q4 guidance Management now expects fourth quarter sales to be in the range of $13.9 billion to $14.1 billion, below the $14.26 billion consensus estimate. EPS for Q4 is expected to be in the range of 85 to 89 cents per share, below the 94 cent consensus and down from the 92- to 96-cent per share range implied by the third quarter and full year guide provided with TJX's fiscal second quarter earnings back in August. Shortly after that fiscal Q2 release, the Club started a position in TJX and, as of Wednesday has an unrealized gain of more than 20% on the 950 shares we own. Management expects expense timing that benefited the reported quarter's results to reverse in the current (fourth) quarter. Put another way, expenses that got pushed out to the benefit of Q3 results will be realized in the fourth quarter. U.S. same-store-sales are expected to be flat to up 1% in the fourth quarter, better than expectations for no change, at the midpoint, and representing an upward revision versus the flat to down 1% guide offered up with the Q2 release. Full-year guidance Given the fourth quarter outlook, management expects full year sales to come in between $49.3 billion and $49.5 billion, down from the $49.6 billion to $49.9 billion range forecast. The company, on the call, attributed the downward revision to "unfavorable foreign exchange rates" that will negatively impact Q4 results. The guide is below the $49.78 billion consensus estimate coming into the print. Full-year adjusted diluted earnings are expected to be in the range of $3.07 and $3.11 per share, below expectations of $3.10 per share at the midpoint. That guide also represents a tightening around the $3.09 midpoint versus the $3.05 to $3.13 per share range provided with the prior quarter's release. On the release, management noted that the trim at the high end is due to an expected 2-cent per share foreign exchange headwind. Additionally, management upwardly revised their U.S. same-store-sales outlook to a range of down 1% to down 2%, an improvement versus the down 2% to down 3% result previously expected. Q3 results Total fiscal third-quarter U.S. same-store-sales fell 2%, smaller than estimates for a 4.4% decline. As a reminder, management defines same-store-sales as sales at stores that have been in operation for all or a portion of two consecutive fiscal years. In other words, we're talking about stores that are starting their third fiscal year of operation. This excludes new stores, stores closed permanently or closed for an extended period of time as well as e-commerce results. On the call, management stressed that due to the impact of Covid same-store-sales were up 14% on a three-year stacked basis. They also said U.S. same-store-sales "improved each month of the quarter on that same three-year stacked basis." U.S. Marmaxx sales, including T.J. Maxx, Marshalls and Sierra brand stores, rose 3% to a better than expected $7.46 billion, benefiting from 3% same-store-sales growth. U.S. HomeGoods, including HomeGoods and Homesense brand stores, saw sales drop 14% to a lower expected $1.95 billion, suffering from a 16% same-store-sales decline Looking abroad, TJX Canada sales of $1.29 billion, down 1% annually (or up 4% on a constant currency basis), were short versus the $1.39 billion estimate; while TJX International sales (which includes Europe and Australia) of $1.48 billion, down 16% annually (or down 1% on a constant currency basis), came up short versus expectations of $1.65 billion. Total inventories ended fiscal Q3 at $8.3 billion, up from the $6.6 billion level seen in the year ago period with management commenting on the release that they are "very comfortable" with their inventory position and are set up "extremely well to deliver" what they describe as exciting brands and gifts to stores and online this holiday season. Lastly, TJX Companies generated operating cash flow of $1.1 billion. As a result, management was in a position to return $843 million to shareholders with $500 million via the repurchase of 7.7 million shares and the remaining $343 million via dividends. With this, TJX bought back $1.8 billion worth of stock and continues to anticipate repurchasing a total of $2.25 billion to $2.5 billion in fiscal 2023. We're not the only ones interested in TJX. As we wrote Tuesday , Daniel Loeb's Third Point amassed a 1.75 million share position in TJX over the three months ended Sept. 30. Loeb's stake was among several Club stocks revealed in quarterly filings to be on the radar of Third Point and other high-profile hedge fund managers. (Jim Cramer's Charitable Trust is long TJX. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. The reflection of shoppers are seen in a window at a TJ Maxx store in Peoria, Illinois. Daniel Acker | Bloomberg | Getty Images

https://www.cnbc.com/2023/05/12/club-meeting-recap-stocks-down-tjx-fl-.html

TJX

TJX Companies

Jim Cramer says off-price retailer TJX could be 'eating the carcass' of Bed Bath & Beyond

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Friday's key moments. Stocks edge down More upside for TJX Stick with FL 1. Stocks edge down Stocks trended lower Friday morning amid the ongoing political stalemate over raising the U.S. debt ceiling, with the government hurdling towards a potential default by the end of the month. The market was also weighed down by continued uncertainty over the health of regional banks. The S & P 500 was headed for its second week of losses. But the Nasdaq was trying hold on to its weekly gains for a third straight week. Meanwhile, the S & P 500 Short Range Oscillator was hovering around minus 2%, meaning the market is not yet in oversold territory. But once it is, we'll be looking for fresh buying opportunities. 2. More upside for TJX TJX Companies (TJX) "could be eating the carcass of Bed Bath & Beyond for breakfast," Jim Cramer said Friday. In the wake of Bed Bath & Beyond's bankruptcy , TJX is poised to absorb much of the inventory from the discount home-goods chain. Jim predicted TJX stock, trading around $78 a share Friday, could soon break above $80. His comments came as TD Cowen raised its price target on TJX to $89 per share from $88, while reiterating its outperform (buy) rating on the stock. TJX is set to report fiscal year 2024 first-quarter results on Wednesday. 3. Stick with Foot Locker Jim said Friday he continues to bet that Foot Locker (FL) CEO Mary Dillon's restructuring plan for the sneaker retailer will pay off – but warned that turnarounds don't happen overnight. Citi lowered its price target on FL to $48 per share from $50, but maintained its buy rating. The firm also predicted a first-quarter earnings beat on lower costs when Foot Locker reports on May 19. "We believe the market is likely to look through any near-term choppiness given the improvements CEO Mary Dillon can drive," Citi analysts wrote in a note. Shares of Foot Locker were higher Friday, trading at nearly $39 apiece. (Jim Cramer's Charitable Trust is long TJX, FL. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

https://www.cnbc.com/2023/01/18/as-consumer-spending-slows-tjx-is-the-off-price-retailer-to-own.html

TJX

TJX Companies

As consumer spending slows, Club holding TJX is the off-price retailer to own

Fresh economic data Wednesday showed U.S. consumer spending slowed during the holiday season as inflation, though easing, continued to squeeze shoppers. That's likely to make off-price retailers like Club holding TJX Companies (TJX) even more attractive to many Americans looking for cost-saving deals in the new year. Total retail sales in the U.S. dropped 1.1% in December month-on-month, the Commerce Department said Wednesday, in the second consecutive monthly decline. Retail sales had fallen by 1% in November. The monthly sales report, which is not adjusted for inflation, showed declines across a range of categories, with a steep drop of 6.6% in department-store sales and a 4.6% fall in sales at gasoline stations. The retail data comes as the Labor Department's producer price index, also released Wednesday, showed prices of wholesale goods and services came down at a faster rate than expected in December. That's a sign the Federal Reserve's interest rate hikes are working to slow inflation, which could benefit consumers. But with the state of the economy still uncertain — inflation remains high, even as fears of a recession persist — Morgan Stanley on Wednesday highlighted off-price retailers like TJX and competitors Ross Stores (ROST) and Burlington Stores (BURL) for their "defensive qualities in the face of recession." Companies like TJX, which operates stores like T.J. Maxx and Marshalls, have benefited from a retail inventory glut that's plagued major department stores over the past year, buying up excess apparel and other items at a discount then passed onto shoppers. Morgan Stanley analysts expect off-price retailers to benefit from consumers shifting spending habits away from high-end shopping toward discounts. "Looking into 2023, we think TJX, ROST & BURL's businesses should benefit from trade down once again, as well as see margin tailwinds on normalizing freight costs & [merchandise] margins, creating an attractive setup for the sub-sector in a potentially challenging macro environment," the analysts wrote in a research note. The analysts singled out TJX as the only off-price retailer to successfully raise prices over the last couple years, helped by their more than 20,000 vendor partners, while also attracting a higher-income demographic compared to competitors. Shares of TJX closed down 2.13% Wednesday, at $79.81 apiece. Bottom line A second consecutive monthly drop in retail sales shows that shoppers are increasingly careful about how and where they spend their hard-earned dollars. This trend could be foreshadowing slower growth in upcoming retail earnings for the first quarter. At the same time, if inflation continues to moderate, it could create space for more discretionary spending. But for the moment, inflation is still a challenge for many consumers, even as the economy slows. This positions TJX to be a preferred shopping destination during a potential economic downturn. Off-price retailers like TJX have a great opportunity to snag a wide range of merchandise from big-box retailers with elevated inventory for very cheap prices. They can then sell items quickly, which allows for quick product turnover and a boost to their top lines. TJX also offers a dividend yield of 1.44% to shareholders, sweetening our investment case. TJX is set to report its fiscal fourth-quarter earnings on Feb. 22. (Jim Cramer's Charitable Trust is long TJX. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. A shopper carries a bag outside a TJ Maxx store in New York, U.S. Victor J. Blue | Bloomberg | Getty Images

https://www.cnbc.com/2022/10/17/bargain-retailer-tjx-ready-to-navigate-a-recession-jpmorgan-says.html

TJX

TJX Companies

Bargain retailer TJX strategically placed to navigate a recession, JPMorgan says

TJX Companies (TJX) is competitively positioned to weather an economic slowdown, JPMorgan said Monday, underscoring the Club case for owning the off-price retailer. JPMorgan analysts added TJX — whose brands include T.J Maxx, Marshalls and HomeGoods — to their "Analyst Focus List," while reiterating an overweight rating and a Dec. 2023 price target of $80 a share. TJX stock, which is down about 13% year-to-date, was trading up more than 4% in midday trading Monday, at roughly $66.23 a share. The company's bargain department stores have historically remained appealing to shoppers during times of economic uncertainty, ranking TJX within "the top 10 percentile of consumer discretionary equity performance during an economic slowdown/contraction," the analysts wrote. Wall Street's take TJX has benefited greatly from an apparel inventory glut it's been able to tap into and then turnaround to bargain shoppers at lower prices. That's helped to insulate the retail operator from a recession, JPMorgan analysts argued, and should allow management to make good on its promise to expand merchandise margins within the next three years. TJX's partnership with 21,000 global vendors has proved a key advantage, providing the company with a better mix of brand names compared to last year, according to the analysts, while allowing it to cater to a "higher-income demographic." Many of these brand names, including Canada Goose, Vince, Calvin Klein, Tommy Hilfiger, and Michael Kors, helped bolster sales in the last quarter, JPMorgan fieldwork showed. At the same time, T.J. Maxx and Marshall's core middle-to-high-income shoppers remain "relatively more resilient" to economic headwinds than other bargain retailers like Ross Stores (ROST) and Burlington Stores (BURL). Still, JPMorgan warned that a worsening economic outlook, coupled with a potential uptick in unemployment, could weigh on consumer spending and force the bank to revise its rating and price target for TJX. "A greater-than-expected downturn in household spending could cause sales trends to decelerate below our current assumptions, rendering our estimates too high," the analysts wrote. The Club take As name-brand retailers liquidate their excess merchandise and cancel orders, TJX should be there to opportunistically scoop up high-quality brands at discount prices. This is exactly why we initiated a position in TJX in August, with the foresight the company would benefit from a flush of designer names. We're upbeat that TJX can capture high-quality merchandise at the best prices the company has seen in years, and this should help boost its margins at a time when other retailers are struggling. TJX stock was also one of the best performers in the Club portfolio in the third quarter, gaining 11.4%, a sign the market is gaining appreciation for the off-price chain operator. We're happy to see the stock up in the wake of the JPMorgan note Monday, but we're not going to buy more shares here. As always, we don't like to chase a stock on its way up — we'd rather wait for a pullback to add to our position. TJX is set to report fiscal third-quarter results for 2023 on Nov. 16. (Jim Cramer's Charitable Trust is long TJX. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. Shoppers come and go the TJ Maxx store at the Mall at Prince George's on August 17, 2022 in Hyattsville, Maryland. Chip Somodevilla | Getty Images

https://www.cnbc.com/2022/11/22/retailers-costco-tjx-benefit-from-improving-supply-chains.html

TJX

TJX Companies

Nimble retailers Costco, TJX to benefit from improving supply chains, Cowen says

After more than two years of shipping and delivery disruptions, global supply chains are normalizing and retailers like Costco (COST) and TJX Companies (TJX) are poised to reap the rewards, according to Cowen Research. The Club holdings have long proved to be more adept than many competitors at managing their inventories and flexibly responding to upheaval in the supply chain, a key pillar of our investment case for both. Over the past year, Costco has "demonstrated an effective supply chain response… while prudently managing inventory levels relative to sales," analysts at Cowen wrote Monday in a cross-sector research note on global supply chains. At the same time, the bank called TJX its "top pick within off-price retail for supply chain margin recovery." The retail industry has been weighed down by a global supply chain crisis in the wake of the Covid-19 pandemic. Demand for consumer goods soared, while logistical constraints and bottlenecks limited the availability of those products. Ultimately, as more dollars in the economy competed for fewer goods, inflation climbed this year – with a stronger U.S. dollar further putting pressure on retailers' overseas operations. But with the Federal Reserve aggressively raising interest rates to suppress demand and rein in inflation, supply chain bottlenecks are now beginning to ease. In addition to nimbly navigating supply chain hurdles, membership-only wholesaler Costco, which sells everything from groceries to gasoline in bulk, and TJX, which operates off-price stores like T.J. Maxx and Marshalls, both have business models suited to consumers in an economic slowdown. Cowen's take Costco's supply chain this year has been interrupted by port delays, shortages of raw materials and labor costs. But the company has managed these disruptions in part through its "immense buying power," allowing it the leverage to negotiate with a range of suppliers to extract the best prices, according to Cowen. Costco's buying power is enabled by the company's limited stock keeping units (SKUs), a metric that helps retailers track inventory and sales. A lower SKU count means a retailer has less product categories, making it easier to manage inventory. Costco's "shelves remain stocked based on an item focus rather than a category focus," Cowen analysts wrote, and are concentrated on consumer staples. Analysts at Bank of America on Tuesday said Costco's "curated and limited SKU count" is a "competitive advantage as it allows the company to more frequently rotate in new and high-value items." By contrast, discount retailers Walmart (WMT) and Target (TGT) both have higher SKU counts than Costco, as they offer a greater variety of inventory categories. This higher volume of inventory ultimately posed challenges for both retailers earlier this year when they were left holding merchandise that didn't keep up with changes in consumer spending preferences, forcing them to markdown prices. Costco has benefited as U.S. consumers have been shifting their spending habits away from discretionary purchases like electronics to focus on essential items like groceries. In a separate note Tuesday, analysts at Cowen called Costco a "defensive play" and "one of the best positioned retailers to win market share over the coming quarters during and after the pandemic," citing a "streamlined assortment" of products that can continue to spur sales growth in a slowing economy. But as supply disruptions improve, retailers are receiving goods earlier than anticipated, often resulting in built-up inventory, according to Cowen. The analysts said they expect that oversupply to continue, which would benefit an off-price retail operator like TJX that buys excess inventory at a discount. Unlike competitors Ross Stores (ROST) and Burlington Stores (BURL), TJX maintained its fiscal year 2022 gross margin at pre-Covid levels, at 28.5%, despite headwinds from supply chain and freight costs, according to Cowen. The analysts expect a slight margin contraction in fiscal 2023, due to elevated shipping costs, before expanding as high as 28.8% in fiscal 2024. The Club take We agree that Costco's negotiating power is a strong asset that allows it to offer the best value to customers. Furthermore, since Costco's inventory is focused on consumer staples, there's less risk of inventory obsolescence. That means consumer demand will likely not dissipate for most of its items, limiting the inventory build up seen by Walmart and Target. Inflation has pressured Costco's margins but that headwind has been mitigated by the wholesale retailer's strong membership- and total sales growth. Furthermore, we see an opportunity for margin expansion, given the company's plans to open more stores internationally. On TJX, we agree that supply chain volatility creates opportunities for the off-price retailer, as its business model targets name brands struggling with excess supply. At the same time, we believe TJX's margins will expand as freight headwinds reverse next year. (Jim Cramer's Charitable Trust is long COST, TJX. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. A man loads water into his car in the Costco parking lot in the Brooklyn, New York, March 2, 2020. Andrew Kelly | Reuters

https://www.cnbc.com/2023/06/26/shein-poised-to-take-major-us-market-share-ubs-thinks-these-companies-will-be-hurt-most.html

TJX

TJX Companies

Shopping platform Shein poised to take major U.S. market share. UBS thinks these companies will be hurt most

Some big-name U.S. retailers could struggle as Chinese e-commerce company Shein gains ground in the country, UBS warned. Shein's latest fundraising push put the company at a $66 billion valuation, according to a Wall Street Journal report. The Journal also reported that the Chinese fast-fashion company saw $23 billion in revenue last year with plans to grow that figure 40% this year. Last year's net profit came in at $800 million. "Investors are asking if SHEIN's momentum can continue and what impact it will have on the US Softlines industry," UBS analyst Jay Sole said in a note to clients. "We believe SHEIN's momentum to continue, and the company could take major market share from US Softlines companies. SHEIN's rise over the last 4 years is another reason we have a bearish view on Softlines stocks." The retailer is privately owned, though some news outlets have reported potential timelines for an initial public offering. Regardless, the company's rise to prominence among American consumers can spell bad news for publicly traded U.S. retailers who stand to forfeit market share. Shein's ascent Some investors thought Shein gained popularity solely because it offered products at lower prices than competitors, Sole said. But also of note was the connection with consumers through in-person marketing events in the U.S., which he said has helped build a "community" around the e-commerce brand. One piece of evidence showing that community is social media. Shein has the most followers on TikTok of any apparel retail company. It also has the third-highest number of followers on Instagram within this group and had the most likes on the platform in May. Monthly UBS data also shows its growing momentum among U.S. women, Sole said. Just 0.6% of the approximately 4,000 women surveyed in June 2020 said they shop at Shein for most female clothing. That percentage rose to 2.5% by June 2022 and came in at 4%, a new high, this month. Sole noted that growth is taking place even as the economy reopened, showing little effect from the return to in-person shopping on the all-digital company. Elsewhere, UBS data showed Shein was the second most-downloaded shopping app in the U.S. over the past month behind Temu.com. It was the top download in four of 10 other nations tracked. Shein was also the most-searched retailer in the U.S., with searches up 29% in May when looking at annualized increases on a two-year basis. That typical Shein customer is an important one, Sole said. The customer spends $100 per month on women's clothing, 60% more than the average female consumer spends on women's clothing. They are generally considered more frequent shoppers for both online and in-person channels, though Shein customers tend to spend a larger share online. Another driving force behind the demand for Shein is its fashion focus. At Shein, 44% of shoppers agree new trends and styles are important to them, while just 22% of all U.S. adults say that. Shein shoppers are also more likely to care about brand than the average U.S. consumer. Nearly a quarter of those Shein shoppers said sales are not important to them, which is higher than average. That can signal factors such as product assortment, marketing and supply chain — and not just price — also affect sentiment. Still, Sole noted the Shein shopper tends to be younger and slightly below average income versus the average U.S. adult consumer. Those customers have primary focuses other than the values of a retailer, which is especially relevant when looking at Shein given criticisms of its business practices. A House report released last week said Shein and Temu violated U.S. tariff law and evaded human rights reviews. UBS' survey of 8,000 shoppers found the top three reasons why women buy clothes at preferred retailers were price, selection and quality. By comparison, the options for "environmentally responsible business," "socially responsible business" and "ethical business practices" ranked 29th, 30th and 32nd, respectively. Retail reverberations Shein's growth in the U.S. could bite into sales for other retailers, Sole said. Though he did not make any official stock picks, he did point to UBS research showing which companies have the most overlap with Shein. Of typical clothing retailers, shoppers of Shein in the last three months were most likely to also shop at TJX Companies ' TJ Maxx during that period. In all, three out of every 10 shoppers who said they used Shein also said they went to TJ Maxx, which is known for discounted prices. A few public retailers had overlap between 20% and 30%: Victoria's Secret , Macy's , Gap Inc. 's Old Navy, Kohl's , Ross and American Eagle . H & M and Goodwill also made the list. All seven stocks on this list have underperformed the broader market this year, with just TJX Companies up on a year-to-date basis. But all are expected to rally by analysts over the next 12 months. There's also high overlap with other retail companies that don't specialize in clothing, including Amazon , Walmart and Target . On the other hand, Express and Nordstrom 's discount chain called Rack had the lowest overlap with Shein customers on Sole's list at 10%. Gap's namesake brand and Banana Republic, which it also owns, closely followed with each at 11%. — CNBC's Michael Bloom contributed to this report.

https://www.cnbc.com/id/100151886

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Tractor Supply

RESEARCH ALERT-Suntrust Robinson raises Tractor Supply price target

Oct 9 (Reuters) - Tractor Supply Co : * Suntrust Robinson raises Tractor Supply Co price target to $120 from $100; rating buy For a summary of rating and price target changes on U.S. companies: Reuters Eikon users, click on Reuters 3000Xtra users, double-click Reuters Station users, click .1568 For a summary of rating and price target changes on Canadian companies: Reuters Eikon users, click on Reuters 3000Xtra users, double-click Reuters Station users, click .4899 ((Bangalore Newsroom +91 80 4135 5800; within U.S. +1 646 223 8780))

https://www.cnbc.com/2023/12/15/stocks-making-the-biggest-moves-midday-scholastic-roku-costco-and-more.html

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Tractor Supply

Stocks making the biggest moves midday: Scholastic, Roku, Costco and more

Check out the companies making headlines in midday trading. Scholastic — Shares tumbled about 12% after the publisher and distributor of children's books reported a 4% year-over-year decline in revenue for the fiscal second quarter, citing headwinds in the retail market. Quanex Building Products — The window and door screen manufacturer slid nearly 11% despite posting fourth-quarter earnings that exceeded analysts' expectations. However, the company abstained from giving "premature" guidance, instead promising to revisit the topic next year during first-quarter earnings. Tractor Supply — Shares slipped 3% following a Bank of America downgrade to underperform from neutral. The bank said demand and pricing challenges would hurt the retailer's earnings and investor sentiment. Elanco — The veterinary products company gained was mostly unchanged after Bank of America upgraded shares to overweight from equal weight, after rallying earlier in the day. Bank of America thinks Elanco has a promising pipeline in 2024 from several pending product approvals. STMicroelectronics — Shares of the semiconductor company was added 0.5% after a UBS upgrade to buy from neutral, after rallying earlier in the day. The bank said near-term and midterm headwinds had already been priced in at the stock's current valuation. CyberArk Software — The software company rallied 2.3% after Jefferies initiated its stock at a buy, citing a well-positioned stance in a sizable market. Roku — Shares of the streaming media company dropped 6.8% after MoffettNathanson downgraded them to sell from neutral. The Wall Street firm said it sees challenging comparables for Roku going forward. The stock has more than doubled this year. Omnicom Group — The media and marketing company gained 0.4% after Morgan Stanley upgraded the stock to overweight from equal weight. The bank cited upside to organic growth estimates as a catalyst for the change. Zions Bancorporation — Shares of the regional bank fell more than 4% Friday after Baird downgraded Zion to neutral from outperform. Zion has risen sharply over the past six weeks as interest rates have fallen, and Baird said that risk/reward is now more balanced. Costco — The wholesale retailer's stock jumped more than 4% after posting fiscal first-quarter results that topped Wall Street's expectations. Costco reported earnings of $3.58 per share on $57.80 billion in revenue and declared a $15 special dividend. Lennar — The company slipped 3.6% after posting gross margins on homebuilding that were lower than expected. — CNBC's Michelle Fox, Alexander Harring, Hakyung Kim, Yun Li, Jesse Pound and Samantha Subin contributed reporting.

https://www.cnbc.com/2023/12/15/stocks-making-the-biggest-moves-premarket-cost-len-enph.html

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Tractor Supply

Stocks making the biggest moves premarket: Costco, Lennar, First Solar and more

Check out the companies making headlines before the bell. Costco Wholesale — Costco shares added 2.7% after the wholesale retailer posted quarterly numbers that beat analysts' expectations. The company also announced a special dividend of $15 per share. Lennar — The homebuilder slipped 2.4% despite posting fourth-quarter results that topped Wall Street analysts' expectations. New orders also surpassed estimates, but Lennar posted lower-than-expected gross margins on homebuilding. Solar stocks — A handful of solar stocks rose on Friday after Jefferies initiated coverage with buy ratings, citing declining solar equipment costs and incentives from the Inflation Reduction Act. First Solar jumped 3.5%, while Sunrun and Enphase Energy popped 4.4% and 5.1%, respectively. Darden Restaurants — Shares of the Olive Garden owner slipped 1% on mixed quarterly results. Darden posted adjusted earnings of $1.84 per share, topping the $1.74 expected by analysts polled by LSEG, formerly known as Refinitiv. Revenue came in at $2.73 billion, slightly short of the $2.74 billion expected. Scholastic — Shares of the publisher and distributor of children's books tanked about 12% after posting a year-over-year decline in revenue. Scholastic also trimmed its full-year guidance. Quanex Building Products — Shares of the original equipment manufacturer were down more than 8% despite a fourth-quarter earnings beat. Quanex reported adjusted earnings of 95 cents on revenue of $295.5 million, topping the 70 cents per share on $291.0 million that analysts polled by FactSet had expected. The company failed to give "premature" guidance and said it would revisit it next year when it reported first-quarter earnings. Tractor Supply — Shares slipped 2.1% after Bank of America downgraded the retailer to underperform from neutral. The bank said demand and pricing challenges would pressure earnings and investor sentiment. Colgate-Palmolive — Shares added 1% after being upgraded by Bank of America Securities to buy from neutral. The bank said it expects Colgate-Palmolive to see U.S. volume and market share turning positive, above-average emerging markets growth and margin expansion. — CNBC's Alex Harring, Michelle Fox and Lisa Kailai Han contributed reporting.

https://www.cnbc.com/id/48137438

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Tractor Supply

Lightning Round: Tractor Supply, Walt Disney, Exelis and More

Honeywell International : Cramer remains bullish on this conglomerate's stock, but would wait to buy until it drops between $50 and $51 a share. Walt Disney : As this stock comes down, Cramer recommends pulling the trigger. Goodrich : "Sell, sell, sell!" Exelis : Before making a call on this stock, Cramer plans to do some research. He'll address it on a future broadcast. Select Comfort : The mattress industry has become very competitive, but Cramer doesn't want to select this stock. Lululemon : Cramer said he still likes this yoga apparel maker's stock, but only suggested buying deep-in-the-money call options out six months. Chipotle Mexican Grill : Like with Lululemon, Cramer recommends playing CMG with deep-in-the-money call options going out six or seven months.

https://www.cnbc.com/id/47876830

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Tractor Supply

Lightning Round: Activision Blizzard, BreitBurn Energy, Tractor Supply and More

BreitBurn Energy : Cramer is not interested in this stock right now. American Capital Agency : This stock is OK, Cramer said. Tractor Supply : This stock is faced with a lot of short-sellers, but Cramer likes it nonetheless. VMWare : When it comes to the tech space, Cramer prefers EMC . Quest Diagnostics : This is a "fine company," but Cramer wouldn't recommend it on the U.S. Supreme Court's pending decision on the health care reform law. Citigroup : This bank's stock is too low to sell right now, Cramer said. He prefers JPMorgan Chase's stock anyway. When this story was published, Cramer's charitable trust owned EMC and JPMorgan Chase. Call Cramer: 1-800-743-CNBC Questions for Cramer? madmoney@cnbc.com Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

https://www.cnbc.com/2023/10/29/earnings-calls-reveal-how-ko-jpm-and-other-companies-capitalize-on-ai.html

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Tractor Supply

Earnings calls reveal how companies ranging from Coca-Cola to JPMorgan are capitalizing on AI

Enthusiasm around artificial intelligence has seemed to provide the much-needed boost to technology stocks this year after a difficult 2022. But the growth sector isn't the only industry poised to benefit from the emerging tools, and many companies beyond have already begun showcasing the ways AI is transforming their businesses. The craze around AI kicked off late last year with the launch of ChatGPT, and dozens of technology companies from Alphabet to Meta Platforms have thrown a hat into the ring . Many companies have utilized AI or machine-learning tools in the past to streamline their businesses. But the new wave, fueled by large language models and generative AI that enable companies to create new content or even summarize or assist with administrative tasks, seems to be spreading to every corner of the economy. As third-quarter earnings season gains steam, CNBC Pro used FactSet to search the latest earnings transcripts for some of the ways the largest global companies outside technology are getting behind AI. Consumer-focused companies creating everything from cars to laundry detergent and popular pantry items are among those finding new ways to utilize AI to better predict demand, consumer spending behaviors and improve supply chains. For pharmacy giant Walgreens Boots Alliance and soda maker Coca-Cola , AI is helping improve supply chains, forecast demand and in some cases, predict spending. Tractor Supply has even implemented a new tool that can answer questions. Restaurants have taken a seat at the table. Domino's Pizza highlighted on a recent earnings call its partnership with Microsoft to improve the ordering experience for customers and streamline operations. Health care Health-care companies arguably stand to see some of the most critical innovation from AI, and many are already harnessing these new tools to amp up the customer experience and help doctors improve their techniques. Medical equipment company ResMed , for example, highlighted in a Thursday earnings call the early rollout of its ComplianceCoach tool, which harnesses sleep and respiratory data to predict and identify patients who may struggle to follow therapy. Meanwhile, Intuitive Surgical said early feedback regarding its Case Insights AI program aimed at providing hospitals and care teams with insights into ways they can improve their techniques, or procedures, has been "very good." "While we do have some revenue for it, we don't expect it to be a serious revenue driver," said CEO Gary Guthart in a recent earnings call. "We think it is an ecosystem complementer, and we look forward to describing it more to you as time goes on." Health-care companies have also joined the mix of firms integrating AI to hone their businesses. Centene , UnitedHealth and Elevance Health all highlighted ways they are implementing AI to improve customer offerings. Elevance said it's in the "early stages" of the launch of new AI capabilities to customize the member experience, while UnitedHealth said AI has also enabled the company to speed up call documentation and cut administrative costs. Financials Major financial and banking companies are also finding ways to capitalize on AI to improve efficiencies and their bottom line. On its latest earnings call, Bank of America highlighted the addition of its virtual financial assistant Erica to its digital banking platform CashPro to enable its corporate clients to utilize AI. Elsewhere, Moody's announced plans to work with Google Cloud on potential large language models catered to financial professionals, while Mastercard is harnessing the technology for transaction fraud monitoring. Invesco CEO Andrew Schlossberg said on the company's latest earnings call that the investment management firm is also in the "early days" of AI experimentation to lower costs and drive efficiency. "We simply have to do it," said JPMorgan Chase CEO Jamie Dimon on a recent earnings call, noting that the banking giant is using AI for a range of purposes, including prospecting and marketing. "Does it create opportunity for disruptors to come in? Yeah, of course. That's always been true with technology, but we'll be quite good at it."

https://www.cnbc.com/id/47438027

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Tractor Supply

Lightning Round: Tractor Supply, Dish Network, McDonald's and More

Newcastle Investment : Before Cramer can make a call on this stock, he'd like to interview the company's CEO. Dish Network : This satellite subscription television services provider is OK, Cramer said. He prefers Directv , though, because he thinks it's a better run company. Calumet Specialty Products Partners : Instead of investing in this oil and gas refiner, Cramer recommends Energy Transfer Partners . Avis Budget Group : There is a slowdown in the U.S., but it's not being reflected in this stock, Cramer said. He could only consider buying on a pullback. McDonald's : If this stock falls to where it yields between 3 and 5 percent, Cramer thinks it's a buy. Read on for Cramer's Top Dividend Stocks When this story was published, Cramer's charitable trust owned Energy Transfer Partners. Call Cramer: 1-800-743-CNBC Questions for Cramer? madmoney@cnbc.com Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

https://www.cnbc.com/id/43562190

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Tractor Supply

Stocks to Watch: Starbucks, Ja Solar, Tractor Supply and More...

Stocks advanced Tuesday, led by energy, amid optimism over a solution for Greece's debt crisis. The Dow Jones Industrial Average opened higher after a triple-digit rally in the previous sessionand closing above the psychologically-important 12,000 mark. Here are six stocks that are on the move: Starbucks The coffee retailer was trading at highs not seen since November 2006 ---------- Ja Solar The renewable energy company was downgraded to sell from hold at Brean Murray, Carret. ---------- Tractor Supply The farm and ranch supply retailer was trading at all-time highs dating back to its IPO in February 1994. ----------- Diageo The spirits, beer and wine company was downgraded to hold from buy at Citi. ----------- Forest Labs The pharmaceutical company's price target was raised to $46 dollars from $41 at Credit Suisse. ---------- Valero Energy The oil refiner was initiated a buy at UBS with a $33 price target. ______________________________ Get the latest stock picks on the CNBC Stock Blog.

https://www.cnbc.com/2017/04/12/this-retailer-tried-to-blame-weather-for-its-poor-results.html

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Tractor Supply

This heartland retailer tried to blame weather for its poor results, but Wall Street isn't buying it

Tractor Supply Company rang the Opening Bell at the NASDAQ MarketSite in New York on Oct. 10, 2013. Shares of Tractor Supply Company , which bills itself as the nation's largest "rural lifestyle" retailer, tumbled on Wednesday after the company announced disappointing same-store sales results to start the year because of bad weather. The stock closed down over 8 percent on Wednesday. In an update provided to investors on Tuesday, the company said its comparable store sales — a metric closely watched by Wall Street for retail stocks — decreased 2.2 percent in the first quarter, compared with an increase of 4.9 percent for the same period one year ago. "On a regional basis, sales were most challenged in the Northern regions, where weather had a more pronounced impact on sales for the quarter," the company said. "Weather can influence the demand for certain products," CEO Greg Sandfort said in a statement. "We believe seasonal merchandise sales will improve as we move further into the spring selling season." This so-called weather dependence, though, is concerning and lends itself to some debate, Credit Suisse's research group fired back in a Wednesday note to clients, saying weather was an "even bigger headwind" than the firm expected from Tractor Supply. Sandfort's statements suggest "a greater reliance on the external drivers than perhaps in the past," wrote Credit Suisse analyst Seth Sigman. "That will naturally raise some questions about 'structural' issues, as well as [Tractor Supply's] premium valuation." In the past, the investment firm said, it didn't see negative comps during periods where weather was impacting the entire industry — which includes one of Tractor Supply's top competitors, Deere. "Is it weather or something more?" asked the analyst note. Credit Suisse lowered its price target on the stock to $70 from $73 and maintained a neutral rating on shares. The stock's closing price was $64.61 per share on Wednesday. Tractor Supply reported its sales for the quarter ended April 1 came in at $1.56 billion, missing a $1.57 billion estimate from Thomson Reuters. As of Wednesday's close, shares of Tractor Supply have lost more than 27 percent over the past 12 months and are down around 14 percent this year.