Wall Street
No recession ahead: Evercore ISI predicts S&P 500 will jump 22% from current levels
While retail investors head for the exits as stock prices sharply fluctuate, Evercore ISI’s Julian Emanuel wants to put money to work. He calls the market environment very ugly, but he believes the economy will avert a recession — particularly due to healthy credit markets and continued gains. “The path to higher [stock] prices really […]
Read More
Bill Ackman says a more aggressive Fed or market collapse are the only ways to stop this inflation
Billionaire hedge fund manager Bill Ackman said raging inflation will only dissipate if the Federal Reserve acts more aggressively or the market sell-off turns into a full-on collapse. “There is no prospect for a material reduction in inflation unless the Fed aggressively raises rates, or the stock market crashes, catalyzing an economic collapse and demand destruction,” Ackman […]
Read More
The profit picture for these rare stocks is brightening while the market is mired in recession fears
As many companies deal with rising costs, slowing demand and ongoing recession fears, a CNBC Pro screen surfaced some bright spots that are actually gaining earnings momentum. Investors have been contending with a steep market sell-off for the past two months as inflation worsened by the Russia-Ukraine conflict increasingly weighs on businesses. This week, traders […]
Read More
Stocks making the biggest moves in the premarket: Best Buy, Abercrombie & Fitch, Snap and more
Take a look at some of the biggest movers in the premarket: Best Buy (BBY) – Best Buy jumped 5.2% in the premarket after the electronics retailer reported a mixed quarter. Best Buy fell 4 cents a share shy of forecasts, with quarterly earnings of $1.57 per share. Revenue was better than expected, however, and […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
Stocks making the biggest moves in the premarket: Electronic Arts, VMWare, GameStop and more
Take a look at some of the biggest movers in the premarket: Electronic Arts (EA) – The video game maker’s shares rose 2.5% in the premarket after Puck News reported that the company was actively seeking a buyer or merger partner. EA has reportedly held talks with Walt Disney (DIS), Apple (AAPL) and Amazon (AMZN), […]
Read More