Business
UBS cuts S&P 500 price target for 2022, says earnings estimates could go down even more
UBS cut its price target for the S & P 500 and expects earnings estimates could decline further from here — the latest possible indicator of an impending slowdown. The investment bank cited prolonged higher inflation and rising yields as the reason for cutting the price target and EPS forecast for the broader market index. […]
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Occidental Petroleum looks overbought after its rally this year, Goldman Sachs says
It may be time to take some profits in Occidental Petroleum after the stock’s massive rally this year, according to Goldman Sachs. Analyst Neil Mehta downgraded shares of Occidental Petroleum to neutral from buy, saying in a Monday note that its stock jump seems exuberant, especially when compared with peers. Energy names have broadly benefited […]
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Frontier urges Spirit to delay vote again, let shareholders consider ‘best and final’ offer
A Frontier Airlines airplane taxis past a Spirit Airlines aircraft at Indianapolis International Airport in Indianapolis, Indiana, on Monday, Feb. 7, 2022. Luke Sharrett | Bloomberg | Getty Images Frontier Airlines has asked Spirit Airlines to further delay a shareholder vote on their planned merger to drum up more support from investors amid a bidding […]
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Costco CEO’s one-word answer to whether he would raise the price of hot dogs: ‘No’
Some good news for inflation-weary Americans: There will be no price hike on Costco’s hot dogs. In an interview Monday on CNBC’s “Squawk on the Street,” CEO Craig Jelinek had a one-word answer when asked whether he would raise the signature food court item’s price: “No.” Costco has continued to put up strong sales, even […]
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India set to overtake China as the world’s most populous country in 2023, UN says
People photographed in Bengaluru, Karnataka, India. According to the UN, India is home to over 1.4 billion people. Peter Adams | Stone | Getty Images India is on track to overtake China as the planet’s most populous country next year, according to a U.N. report published on Monday. The report, from the population division of […]
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Shares of Mattel could see more than 30% upside on TV and movie releases, Goldman Sachs says
A slate of recent and upcoming TV and film content releases including Minions and Barbie will buoy shares of Mattel, according to Goldman Sachs. Analyst Michael Ng upgraded Mattel to buy from neutral, saying in a Sunday note that the toymaker has a number of promising developments in its pipeline. “Against the backdrop of increasing […]
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Bank of America upgrades Honeywell to buy, citing potential growth in aerospace and oil and gas
Bank of America said investors should consider shares of Honeywell , which has an attractive mix of end markets that will benefit from broader manufacturing trends. Analyst Andrew Obin upgraded shares of Honeywell to buy from neutral, and maintained its price target, saying in a Monday note that he approves of the company’s execution and […]
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It’s time to sell Meta until it figures out the metaverse, Needham says in downgrade
Investors should sell shares of Meta until the social media company figures out the metaverse, according to Needham. Analyst Laura Martin downgraded shares of Meta Platforms to underperform from hold, noting that the company’s heavy investments in the metaverse — just as it expects slower revenue growth — may take too long to pay off. […]
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Bank of America shares are a compelling buy even in a recession, Societe Generale says in upgrade
Investors should consider buying Bank of America even as recession risks linger, according to Societe Generale. Analyst Andrew Lim upgraded Bank of America to buy from hold, saying in a Monday note that the “quality bank” is looking cheap after falling 36% off its recent highs. “Bank of America (BoA) is the highest quality US […]
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‘Thor: Love and Thunder’ pulls in $143 million in domestic opening
Natalie Portman and Chris Hemsworth star in Marvel’s “Thor: Love and Thunder.” Disney With “Thor: Love and Thunder” zapping up an estimated $143 million during its domestic weekend, box office analysts feel confident that movie theaters are no longer on the road to recovery and have reached a pace of normalcy seen in pre-pandemic times. […]
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