Stock markets
DoorDash can jump 32% given its market leadership in food delivery, Bernstein says
DoorDash is a top pick among U.S. emerging internet companies given its leadership in the on-demand delivery space, according to Bernstein. Analyst Nikhil Devnani in a Monday note initiated coverage of DoorDash with an outperform rating and a price target of $90 per share. That represents more than 32% upside from where shares closed on […]
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Chinese buyers not living in lockdown shake off electric car price hikes, Xpeng says
Guangzhou-based Xpeng is one of several Chinese electric car companies that’s started to expand overseas. Feature China | Future Publishing | Getty Images BEIJING — In a sign Chinese drivers are still willing to buy electric, start-up Xpeng said that demand for its cars has shaken off the impact of price hikes. From Nio to […]
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Goldman Sachs expects more China real estate defaults, switches to bear case
Real estate and related industries account for more than a quarter of China’s economy, according to Moody’s estimates. CFOTO | Future Publishing | Getty Images BEIJING — Chinese real estate defaults have increased so much that Goldman Sachs analysts have shifted to their worst-case scenario for the riskiest part of the market. Twenty-two China high-yield […]
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Why China will likely recover more slowly from the latest Covid shock
As Shanghai tries to reopen businesses, one downtown district over the weekend banned residents from leaving their apartment complexes again for mass virus testing. Pictured here, in another district on May 21, 2022, is a line outside a shopping mall. Xu Kaikia | Visual China Group | Getty Images BEIJING — China’s economy won’t be […]
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Stock futures fall after Dow’s 600 point comeback
Stock futures fell in overnight trading on Monday as the markets struggled to sustain a comeback rally following weeks of losses. Futures on the Dow Jones Industrial Average fell 130 points, or 0.42%. S&P 500 futures dipped 0.89% and Nasdaq 100 futures dropped 1.6%. Zoom Video shares popped 6% in extended trading after sharing strong […]
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Stocks poised for near-term rally after S&P 500 flirts with bear market, but selling is not over
The stock market’s bounce back from the brink of a bear market has set up the potential for a near-term rally, but there could be more pain in store for stocks this summer, say strategists who follow price charts. Friday’s sharp intraday drop to a low on the S & P 500 of 3,810 was […]
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Stocks making the biggest moves midday: JPMorgan Chase, Gap, VMWare & more
People pass the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York City. Mike Segar | Reuters Check out the companies making headlines in midday trading. JPMorgan Chase – JPMorgan rose 7% after the bank said it expects to reach key return targets sooner than planned thanks to rising interest rates giving […]
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Motorola is a defensive growth story that has plenty of upside potential, Morgan Stanley says
Motorola could see big gains from here, according to Morgan Stanley. Analyst Erik Lapinski upgraded shares of Motorola to overweight from equal weight, saying in a Monday note that the telecommunications company is attractive in the current market and could reach $300 a share in two years in its bull case. “Our analysis shows the […]
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Citi downgrades several apparel stocks, including Gap, because of inflation hitting consumers
A squeeze on lower-income consumers as shown by last week’s earnings reports are a “wake-up call” for retail companies including Gap , according to Citi. Analyst Paul Lejuez downgraded a string of apparel names, saying in a Monday note that the companies will find it hard to pass on rising costs to consumers given that […]
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Home services company Porch Group can go up 80% from here, JPMorgan says
Porch Group ‘s business-to-business strategy sets the software company apart in the home services and insurance industry, according to JPMorgan. Analyst Cory Carpenter initiated coverage of Porch Group with an overweight rating, saying in a Monday note that the home concierge company has differentiated itself. “While most home services and InsurTech platforms are DTC, PRCH […]
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