Wall Street
Target is oversold and could jump nearly 20% from here, Wells Fargo says in upgrade to buy
It’s time to snap up shares of Target at a bargain as they could surge nearly 20% from current levels, according to Wells Fargo. Analyst Edward Kelly upgraded shares of Target to overweight from equal weight, saying in a Monday note that the retailer is oversold. Target tumbled 25% after its calendar first-quarter earnings report, […]
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These stocks have led the rally since the June bottom and could offer more momentum in the second half, Credit Suisse says
Credit Suisse believes the July stock market rally will continue, and has a list of names that could continue to ride the momentum from here. Stocks capped a strong month on Friday, rallying sharply off their June lows, as traders bet that markets have already priced in the likeliest recession expectations and shifted into more […]
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Bank stocks are ‘too cheap’ and could outperform S&P 500 after recession strikes, Oppenheimer says
Bank stocks have sold off this year on fears that a looming recession will rock the sector with surging loan defaults. But that reflex is an example of recency bias and ignores a few key differences in the U.S. financial industry after the 2008 financial crisis, Oppenheimer analyst Chris Kotowski said Friday in a research […]
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Amazon, Apple, Google and Tesla have all done it. Here’s why companies split their stock
Google is just one of dozens of companies recently making its stock more affordable. The tech giant’s parent company, Alphabet (GOOGL), split its two classes of shares (GOOG) by a 20-to1 ratio in July. Amazon (AMZN) made the same 20-for-1 move in June while Tesla (TSLA) announced around the same time that it’s going with […]
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Stocks making the biggest moves in the premarket: Amazon, Roku, Intel, Chevron and more
Take a look at some of the biggest movers in the premarket: Amazon.com (AMZN) – Amazon shares rallied 12.5% in premarket trading after it posted better-than-expected quarterly revenue and issued an upbeat outlook. Amazon logged an overall quarterly loss, owing largely to a $3.9 billion negative impact from its investment in electric vehicle maker Rivian […]
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Despite concerns, ESG strategies may become a crowded trade for impact investors – so Vanguard is taking a different track
It’s a fund looking to make money from green investing. The inclusive, actively managed Vanguard Baillie Gifford Global Positive Impact Stock Fund (VBPIX) is an environmental, social and governance product that bundles companies with positive, inclusive and sustainable intentions. “It’s really a fund that’s going to be investing in global equities looking to deliver long-term […]
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Deutsche Bank isn’t convinced a ‘slam dunk’ recession is underway just yet. Wants more evidence after latest GDP print
Deutsche Bank joined the growing chorus of voices that’s not convinced we’re in a recession yet — although the firm continues to believe we’ll likely land in one within the next year. “We still think a recession is almost a slam dunk over the next 12 months but want to see more evidence of employment […]
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A ‘discretionary goods recession’ will hurt Best Buy, Jefferies says in downgrade
Best Buy investors should brace for more pain ahead, according to Jefferies. Analyst Jonathan Matuszewski downgraded shares of Best Buy to hold from buy, after the company lowered its forecast for the current quarter and fiscal year . Best Buy joins several other retailers that have reduced guidance because of weakening consumer demand. “[We] revisited […]
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Goldman Sachs downgrades Teladoc, slashes price target by nearly 35%, citing weak outlook
Goldman Sachs downgraded Teladoc Health and slashed its price target by nearly 35% after the telemedicine company issued a weak forecast. Teladoc shares plunged 21% in premarket trading on Thursday. On Wednesday, the company lowered its third-quarter forecast , citing challenges around consumer sentiment, currency headwinds and wage inflation for the weaker outlook. “While TDOC […]
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Stocks making the biggest moves in the premarket: Stanley Black & Decker, Southwest Airlines, Harley-Davidson and more
Take a look at some of the biggest movers in the premarket: Spirit Airlines (SAVE) – Spirit shares rose 3.9% in premarket trading after it agreed to be acquired by JetBlue (JBLU) for $33.50 per share in cash. That follows yesterday’s rejection by shareholders of Spirit’s previous deal to merge with Frontier Airlines parent Frontier […]
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