Business
Morgan Stanley says this data storage stock can jump 20%, outperform other tech names in a recession
It’s time to buy Pure Storage as it will outperform its peers, according to Morgan Stanley. Analyst Meta Marshall upgraded shares of Pure Storage to overweight from equal weight, saying the data storage company has several competitive advantages to weather broader economic challenges. “PSTG is generally a consensus long, and risks around NAND pricing and […]
Read More
Wells Fargo downgrades Paramount to underweight, sees shares declining more than 30% from here
It’s time to sell Paramount as it struggles with both its cable and streaming businesses, according to Wells Fargo. Analyst Steven Cahall downgraded shares of Paramount to underweight from equal weight, saying that his view on cable and streaming TV has worsened in the past few weeks. Cahall previously downgraded Paramount to equal weight earlier […]
Read More
World needs to accept the urgent need for fossil fuel investment now, BP CEO says
BP CEO Bernard Looney photographed in Texas on March 8, 2022. During a panel discussion on Oct. 31, 2022, Looney said his firm’s strategy was to “to invest in hydrocarbons today, because today’s energy system is a hydrocarbon system.” F. Carter Smith | Bloomberg | Getty Images BP’s strategy is centered around investing in hydrocarbons […]
Read More
Self-driving truck startup TuSimple fires its CEO over improper ties to a Chinese firm
TuSimple, partly owned by UPS, makes self-driving trucks, a technology that may be among the innovations to help lower longer-run inflation in the transport sector. Source: TuSimple Self-driving truck startup TuSimple has fired its CEO, Xiaodi Hou, after an internal investigation found improper dealings and possible tech transfer to a Chinese firm led by TuSimple’s […]
Read More
Wells Fargo double downgrades Hanesbrands, says it can fall 30% on macro and balance sheet pressures
Sock and underwear maker Hanesbrands could fall more than 30% as it faces several major business challenges, Wells Fargo said in a double downgrade of the stock. Analyst Ike Boruchow lowered his rating of Hanesbrands to underweight from overweight, slashing his price target to $5, saying the North Carolina company must deal with increasing macroeconomic […]
Read More
Sell biopharma stock Amgen ahead of its obesity drug update, Barclays says
Investors should sell biopharma stock Amgen ahead of its obesity drug update next week, according to Barclays. Analyst Carter Gould downgraded Amgen to underweight from equal weight, saying there are high expectations around its obesity drug AMG133 after the stock’s rally this month. The stock is up 21.5% in October. Amgen holds an analyst call […]
Read More
Oil is all that Putin has left, U.S. presidential advisor Amos Hochstein says
Amos Hochstein photographed in Beirut, Lebanon, on October 27, 2022. Hussam Shbaro | Anadolu Agency | Getty Images Oil is all Russia’s economy has left following its invasion of Ukraine earlier this year, according to Amos Hochstein, special presidential coordinator for President Joe Biden. “Oil is the only thing they have left in that economy […]
Read More
5 things to know before the stock market opens Monday
Trader on the floor of the NYSE, Oct. 28, 2022. Source: NYSE Here are the most important news items that investors need to start their trading day: 1. Green October U.S. equities markets are primed to wrap up a stellar month as October concludes. The Dow, in fact, could well achieve its best month since […]
Read More
UBS downgrades Caterpillar, sees little upside after strong earnings
UBS sees little upside in Caterpillar after its strong earnings results last week. Analyst Steven Fisher downgraded shares of Caterpillar to neutral from buy, saying that the stock will struggle to outperform after its recent gains. The industrial stock is up more than 6% this year, easily surpassing the broader market. “We downgrade CAT to […]
Read More
Want to book a flight but pay for it next year? Here’s how it works
Travel demand is still picking up, and so are the prices of flight tickets. Surging prices are causing some to cut back on spending, but others are finding new ways to pay for their holiday plans. More airlines are partnering with “buy now, pay later” firms to give customers the option to pay for their […]
Read More