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Largest decreases in stock option open interest $NXE $CHPT $CCJ $SOFI $CVNA $NVDA $TSLA $INTC
Todays largest increases in stock option open interest $TSLA $NVDA $APLD $UBER $ETSY $NYCB
Todays largest increases in stock option open interest $TSLA $NVDA $APLD $UBER $ETSY $NYCB
Upgrades - Sep 24, 2024
$BANC: Wedbush Upgrades to Outperform from Neutral - PT $18 (from $14)
$BNTX: Morgan Stanley Upgrades to Overweight from Equalweight - PT $145 (from $93)
$CMA: Wedbush Upgrades to Outperform from Neutral - PT $75 (from $52)
$CNH: Raymond James Upgrades to Outperform from Market Perform - PT $14
$COLB: Wedbush Upgrades to Outperform from Neutral - PT $31 (from $28)
$CRM: Piper Sandler Upgrades to Overweight from Neutral - PT $325 (from $268)
$LOW: Oppenheimer Upgrades to Outperform from Perform - PT $305 (from $230)
$PB: Wedbush Upgrades to Outperform from Neutral - PT $90 (from $75)
$RF: Wedbush Upgrades to Outperform from Neutral - PT $28 (from $23)
$RYAN: BMO Capital Upgrades to Outperform from Market Perform - PT $75 (from $65)
$WMT: Truist Securities Upgrades to Buy from Hold - PT $89 (from $76)
Downgrades - Sep 24, 2024
$BIDU: HSBC Downgrades to Hold from Buy - PT $100
$COST: Truist Securities Downgrades to Hold from Buy - PT $873
$CTLT: Baird Downgrades to Neutral from Outperform - PT $63.50
$CUBI: Wedbush Downgrades to Neutral from Outperform - PT $53 (from $79)
$DOYU: HSBC Downgrades to Hold from Buy - PT $6.60
$DRS: BofA Securities Downgrades to Neutral from Buy - PT $30 (from $26)
$EQR: BofA Securities Downgrades to Neutral from Buy - PT $82 (from $78)
$ESS: BofA Securities Downgrades to Neutral from Buy - PT $321 (from $307)
$FCNCA: Wedbush Downgrades to Neutral from Outperform - PT $2,150 (from $2,450)
$FHN: Wedbush Downgrades to Neutral from Outperform - PT $17 (from $20)
$INVH: BofA Securities Downgrades to Neutral from Buy - PT $37 (from $39)
$KVUE: RBC Capital Downgrades to Sector Perform from Outperform - PT $24
$MCK: Baird Downgrades to Neutral from Outperform - PT $531 (from $603)
$MNSO: Jefferies Downgrades to Hold from Buy - PT $14.91
$NTR: Wells Fargo Downgrades to Equal Weight from Overweight - PT $50 (from $62)
$NSP: William Blair Downgrades to Market Perform from Outperform
$PRGO: Jefferies Downgrades to Hold from Buy - PT $30 (from $50)
$REGN: Leerink Partners Downgrades to Market Perform from Outperform - PT $1,077 (from $1,175)
$SBUX: Jefferies Downgrades to Underperform from Hold - PT $76 (from $80)
$TGI: BofA Securities Downgrades to Underperform from Buy - PT $12 (from $17)
$XOM: Redburn-Atlantic Downgrades to Neutral from Buy - PT $120 (from $119)
AutoZone reports Q4 EPS $51.58, consensus $53.53
Reports Q4 revenue $6.2B, consensus $6.22B. Reports Q4 SSS up 1.3%. "I want to thank our AutoZoners for their contributions during fiscal 2024 that resulted in our solid performance. We delivered total sales growth of 5.9% for the fiscal year while earnings per share increased 13.0%. Our AutoZoners' commitment to providing Wow! Customer Service continues to allow us to deliver these impressive results. Domestically, our business continues to be challenged by deferrals across our discretionary merchandise categories, but we were pleased to see accelerating Commercial sales performance. We are also happy to report our international businesses continued to perform well, up roughly 10% on a constant currency basis. While currency rate moves slowed sales and earnings growth, our performance remains strong. We are excited about the initiatives we have in place to improve inventory availability, continue to accelerate our domestic commercial business, grow our international businesses and remain focused on delivering great customer service. As we continue to invest in our business, we will remain committed to our disciplined approach of increasing earnings and cash flow, all while delivering strong shareholder value," said Phil Daniele, President and Chief Executive Officer.
Wells Fargo downgrades Nutrien on risk from lower crop prices
Wells Fargo analyst Richard Garchitorena downgraded Nutrien to Equal Weight from Overweight with a price target of $50, down from $62. Ahead of the Q3 results for the chemicals group, the firm see risks of lower crop prices setting the stage for "muted" earnings growth in 2025, with "significant bifurcation within the sector." The downgrade of Nutrien reflects increased risks across its segments from lower crop prices, the analyst tells investors in a research note. Wells says tighter farm budgets increase the potential for reduced fertilizer demand as farmers look to reduce costs, most impacting potash. It also sees risks of lower spend impacting Nutrien's retail segment. Given a lack of catalysts until Brazil demand returns in November and December, the shares will be range-bound, contends the firm.
Afternoon rant if you missed -> https://www.optionmillionaires.com/jb-afternoon-rant-september-23rd-2024/
Fedspeak is heavy this week
Fedspeak is heavy this week. Analysts're already seen several officials out on the wires explaining their views on last week's jumbo rate cut. And there are plenty more policymakers ahead who will give added perspective and help suggested what's in store for November. Note Chair Powell will give pre-recorded opening remarks at the 10th annual Treasury Market Conference (Thursday) but is unlikely to say much. Williams and Barr (voters) also speak at a the Treasury Conference (Thursday). Additionally, Collins (2025 voter) and Kugler (voter) participate in a fireside chat (Thursday). And Kashkari holds a fireside chat with Barr (Thursday). Collins and Kugler speak (Friday). Of note, Fed Chair Powell will speak at the NABE on September 30.
Biohaven jumps 19% to $48 after spinocerebellar ataxia study hits endpoints
Morning rant if you missed: https://www.optionmillionaires.com/jb-morning-rant-september-3rd-2024-2/
hmmmmmmmmmmmmm
When the S&P 500 makes a new high in September (like '24) it appears Q4 does even better.
— Ryan Detrick, CMT (@RyanDetrick) September 22, 2024
In fact, higher 19 out of 21 times (90.4%) and up nearly 5% on avg.
New highs in Sept of election year? Q4 higher 6 out of 6 and up nearly 6% on avg.
Morning Watch List : https://www.optionmillionaires.com/september-23rd-2024-watch-list/
Once considered to be a major force in Silicon Valley, Intel (INTC) in recent times has been marred with technological and financial struggles. It has prompted thousands of layoffs, a suspension of its dividend, and a pause in factory projects amid a costly foundry buildout. Shares of the company have even lost over half of their value in 2024, so it's no surprise that rivals are looking to scoop up some company assets at cheaper prices.
Word on the Street: Reports have surfaced that Qualcomm (QCOM) has approached Intel about a potential takeover. While a deal is said to be far from certain, a transaction like this could benefit from the billions in government grants and low-cost loans lined up for Intel, but face scrutiny from antitrust regulators. If not the entire company, Qualcomm is also said to have been considering various parts of Intel's design operations, particularly its client PC design division.
That's not all. Apollo Global Management (APO) seems to have thrown its hat in the ring as well. According to Bloomberg, Apollo has offered to invest about $5B into Intel, with the latter currently considering the proposal. Broadcom's (AVGO) name has also come up, with advisors continuing to consider potential bids for the chipmaker to make the most of the current situation.
Good idea? "Antitrust concerns exist but may be manageable, particularly if the foundry business is spun off as planned," Kumquat Research writes in Intel And Qualcomm: A Solid Merger Match. "Aside from the unrealistic $90B price tag, the merger is likely to encounter significant regulatory, financial, and integration challenge," counters KM Capital, pointing to discounted cash flow. "I do not want to be boastful, but Intel's stock has lost more than 30% of its value since I have shared my 'Strong Sell' recommendation back in May." Take the latest SA Sentiment Survey.
Nuclear restart
In a move that can unlock financing for the industry, major global banks, including Bank of America (BAC), Barclays (BCS), Citi (C), Morgan Stanley (MS), and Goldman Sachs (GS) are set to pledge increased support for nuclear energy. While nuclear project funding complexities and risks remain, experts say that a public show of support has been long-awaited, given the critical role nuclear energy can play in the overall global energy transition. Remember, Microsoft just signed a 20-year deal to revive the Three Mile Island nuclear plant to power its data centers.
Connected risks
It's not only TikTok. The Biden administration today is expected to roll out a ban on Chinese software and hardware used in connected and autonomous vehicles due to national security concerns. "You can imagine the most catastrophic outcome theoretically if you had a couple million cars on the road and the software were disabled," Commerce Secretary Gina Raimondo said previously, while an auto trade group was quoted as saying that any such changes of equipment would take time. The proposed U.S. ban would come after the White House announced it would put 100% duty on imported Chinese electric vehicles. (74 comments)
Bare-bones
Congressional leaders on Sunday announced a bipartisan short-term spending bill that was described by House Speaker Mike Johnson as "very narrow, bare-bones." It should pass by the end of the week and would avoid a potential government shutdown when the new budget year starts on Oct. 1. Notably, to reach a consensus on the stop-gap bill, Johnson abandoned a push to mandate proof of citizenship when people register to vote. "As history has taught and current polling affirms, shutting the government down less than 40 days from a fateful election would be an act of political malpractice," Johnson said in a statement.
Today's Markets
In Asia, Japan closed. Hong Kong -0.1%. China +0.4%. India +0.5%.
In Europe, at midday, London -0.1%. Paris -0.3%. Frankfurt +0.5%.
Futures at 7:00, Dow +0.1%. S&P +0.2%. Nasdaq +0.3%. Crude +0.4% to $71.25. Gold flat at $2,646.60. Bitcoin +1.3% to $63,497.70.
Ten-year Treasury Yield +1 bp to 3.75%.
Today's Economic Calendar
8:00 Fed's Bostic: Economic Outlook
8:30 Chicago Fed National Activity Index
9:45 PMI Composite Flash
10:15 Fed's Goolsbee: Monetary Policy
1:00 PM Fed's Kashkari Speech
Companies reporting earnings today »
What else is happening...
Samsung, TSMC (TSM) are said to weigh Middle East megafactories.
General Motors (GM) to lay off 1,700 workers at Kansas plant.
Musk says SpaceX to launch 5 uncrewed Starships to Mars.
People's Bank of China injects cash, cuts 14-day reverse repo rate.
Google's emails presented as key evidence in antitrust trial.
Gold tops $2,600/oz barrier, but could a correction be coming?
J&J unit seeks third Chapter 11 filing to settle talc claims.
Boeing defense head Colbert exits in first shake-up for new CEO.
SEC approves options trading on BlackRock's spot bitcoin ETF.
Trump rejects Harris' invitation for another debate on CNN.
Once considered to be a major force in Silicon Valley, Intel (INTC) in recent times has been marred with technological and financial struggles. It has prompted thousands of layoffs, a suspension of its dividend, and a pause in factory projects amid a costly foundry buildout. Shares of the company have even lost over half of their value in 2024, so it's no surprise that rivals are looking to scoop up some company assets at cheaper prices.
Word on the Street: Reports have surfaced that Qualcomm (QCOM) has approached Intel about a potential takeover. While a deal is said to be far from certain, a transaction like this could benefit from the billions in government grants and low-cost loans lined up for Intel, but face scrutiny from antitrust regulators. If not the entire company, Qualcomm is also said to have been considering various parts of Intel's design operations, particularly its client PC design division.
That's not all. Apollo Global Management (APO) seems to have thrown its hat in the ring as well. According to Bloomberg, Apollo has offered to invest about $5B into Intel, with the latter currently considering the proposal. Broadcom's (AVGO) name has also come up, with advisors continuing to consider potential bids for the chipmaker to make the most of the current situation.
Good idea? "Antitrust concerns exist but may be manageable, particularly if the foundry business is spun off as planned," Kumquat Research writes in Intel And Qualcomm: A Solid Merger Match. "Aside from the unrealistic $90B price tag, the merger is likely to encounter significant regulatory, financial, and integration challenge," counters KM Capital, pointing to discounted cash flow. "I do not want to be boastful, but Intel's stock has lost more than 30% of its value since I have shared my 'Strong Sell' recommendation back in May." Take the latest SA Sentiment Survey.
Nuclear restart
In a move that can unlock financing for the industry, major global banks, including Bank of America (BAC), Barclays (BCS), Citi (C), Morgan Stanley (MS), and Goldman Sachs (GS) are set to pledge increased support for nuclear energy. While nuclear project funding complexities and risks remain, experts say that a public show of support has been long-awaited, given the critical role nuclear energy can play in the overall global energy transition. Remember, Microsoft just signed a 20-year deal to revive the Three Mile Island nuclear plant to power its data centers.
Connected risks
It's not only TikTok. The Biden administration today is expected to roll out a ban on Chinese software and hardware used in connected and autonomous vehicles due to national security concerns. "You can imagine the most catastrophic outcome theoretically if you had a couple million cars on the road and the software were disabled," Commerce Secretary Gina Raimondo said previously, while an auto trade group was quoted as saying that any such changes of equipment would take time. The proposed U.S. ban would come after the White House announced it would put 100% duty on imported Chinese electric vehicles. (74 comments)
Bare-bones
Congressional leaders on Sunday announced a bipartisan short-term spending bill that was described by House Speaker Mike Johnson as "very narrow, bare-bones." It should pass by the end of the week and would avoid a potential government shutdown when the new budget year starts on Oct. 1. Notably, to reach a consensus on the stop-gap bill, Johnson abandoned a push to mandate proof of citizenship when people register to vote. "As history has taught and current polling affirms, shutting the government down less than 40 days from a fateful election would be an act of political malpractice," Johnson said in a statement.
Today's Markets
In Asia, Japan closed. Hong Kong -0.1%. China +0.4%. India +0.5%.
In Europe, at midday, London -0.1%. Paris -0.3%. Frankfurt +0.5%.
Futures at 7:00, Dow +0.1%. S&P +0.2%. Nasdaq +0.3%. Crude +0.4% to $71.25. Gold flat at $2,646.60. Bitcoin +1.3% to $63,497.70.
Ten-year Treasury Yield +1 bp to 3.75%.
Today's Economic Calendar
8:00 Fed's Bostic: Economic Outlook
8:30 Chicago Fed National Activity Index
9:45 PMI Composite Flash
10:15 Fed's Goolsbee: Monetary Policy
1:00 PM Fed's Kashkari Speech
Companies reporting earnings today »
What else is happening...
Samsung, TSMC (TSM) are said to weigh Middle East megafactories.
General Motors (GM) to lay off 1,700 workers at Kansas plant.
Musk says SpaceX to launch 5 uncrewed Starships to Mars.
People's Bank of China injects cash, cuts 14-day reverse repo rate.
Google's emails presented as key evidence in antitrust trial.
Gold tops $2,600/oz barrier, but could a correction be coming?
J&J unit seeks third Chapter 11 filing to settle talc claims.
Boeing defense head Colbert exits in first shake-up for new CEO.
SEC approves options trading on BlackRock's spot bitcoin ETF.
Trump rejects Harris' invitation for another debate on CNN.
Largest decreases in stock option open interest $NVDA $HTZ $AAPL $NKE $KSS $CVNA $PYPL $AEO $UPST
SMCI
Supermicro price target lowered to $1,000 from $1,500 at Loop Capital
Loop Capital lowered the firm's price target on Supermicro to $1,000 from $1,500 but keeps a Buy rating on the shares. The company is working to get its gross and operating margins to 14% and 10% respectively while dealing with its 10-K delay, though the perception of its demise are "greatly exagerrated" while its importance in gen-AI is "underappreciated", the analyst tells investors in a research note.
UPB in da HIZZLE
BofA says challenges 'overwhelm' potential benefits of Intel buyout
BofA analysts says a possible Qualcomm (QCOM) takeover of Intel (INTC) is "intriguing but perhaps impractical." The scale benefits are outweighed by regulatory and financial hurdles, the analysts tell investors in a research note. The firm says that if such a deal were to be contemplated, potential pros would include greater scale with $90B in pro-forma sales, leadership across mobile, PC and server central processing units, and opportunity to utilize Intel's large fab footprint. However, the "challenges overwhelm the potential benefits" with a tough regulatory environment, specifically in China and Intel's "weak financials" with large cash burn including $53B in debt and large capex intensity required to support its extensive fab network. BofA is "skeptical of the merits of any proposed transaction" and believes any announcement could create confusion given potential for headcount and roadmap disruptions and be a relative positive for Intel's rivals like AMD (AMD), Nvidia (NVDA), Broadcom (AVGO) and Arm (ARM). The firm keeps an Underperform rating on Intel and Buy rating on Qualcomm
Trade Desk initiated with a Neutral at MoffettNathanson
MoffettNathanson analyst Michael Nathanson initiated coverage of Trade Desk with a Neutral rating and $100 price target. Trade Desk has emerged as the main beneficiary of the shift to connected TV "with a deep moat" and support from both sides of the advertising marketplace, the analyst tells investors in a research note. The firm sees "very little risk" of revenue disappointments in the near-term as more premium video publishers agree to join t
Core Scientific initiated with a Buy at Canaccord after Coreweave 'mega deal'
As previously reported, Canaccord initiated coverage of Core Scientific (CORZ) with a Buy rating and $16 price target. In January, the company emerged from bankruptcy protection with an operating model ready to make money again in Bitcoin mining and then in June Core Scientific announced what the firm views as "the first and landmark 'mega deal' signed by a Bitcoin miner" to provide high-performance compute data center hosting capacity to Nvidia (NVDA) partner Coreweave. The firm likes the economics Core is getting with Coreweave, telling investors that on a contract that could generate in excess of $6B in revenue over twelve years, management is expecting to drive a roughly 80% contribution-like margin.
At 5,703, the S&P 500 is now over 300 points above above the highest 2024 year-end price target from Wall Street strategists and 17% above the average target (4,861). And there's still 3 months to go in the year. $SPXhttps://t.co/l5IYmkeySJ pic.twitter.com/JrUULaoB51
— Charlie Bilello (@charliebilello) September 22, 2024
Have a few 15 day trials to https://optionmillionaires.com - for information send an email to optionmillionaires@gmail.com with ‘trial’ in the header - first come basis
Morning rant if you missed -> https://www.optionmillionaires.com/jb-morning-rant-september-20th-2024/
trading is consolidative to end a busy week that included the -50 bp Fed rate cut. Wall Street is slightly lower at the open. The Dow and S&P 500 are -0.2% lower and the NASDAQ is down fractionally after yesterday's surge that saw the NASDAQ zoom 2.5% higher, while the 1.7% and 1.26% gains in the S&P 500 and Dow pushed them to record highs at 5713 and 42,025, respectively. The VIX is down -1.5% to 16.09. Note it is triple witching today with an estimated $5 tln in options expiring that could see increased volatility into the close. FedEx has crashed -14% after reporting weaker than expected profits and cut its outlook amid signs of a more price sensitive consumer. Treasury yields are higher but close to 2024 lows, still equilibrating to the Fed's move while assessing chances for another big cut in November. The wi 2-year is up 4 bps to 3.588%, with the wi 5-year 3.2 bps cheaper at 3.517%, while the wi 7-year is 3 bps higher at 3.613% ahead of next week's 2-, 5-, and 7-year auctions. The 10-year is up 3 bps to 3.743%. The curve is little changed at 11.4 bps from 12 bps yesterday. The DXY is flat at 100.703, off of the overnight peak of 100.887 and firmer versus JPY at 143.89 after the BoJ signaled it is in no hurry to be hiking rates.
Intuit called 'Strong Sell' by Spruce Point, sees 40%-80% long-term downside
Spruce Point Capital Management issued a report entitled, "An Intuitively Taxing Valuation," that outlines why the firm believes and estimates that shares of Intuit "face up to 40% - 80% potential long-term downside and market underperformance risk." Spruce Point stated: "Long viewed as a solid, if unspectacular, grower and a solid corporate citizen, Intuit has been a beneficiary of hype surrounding artificial intelligence (AI) and currently trades at 11x NTM revenue, making it one of the most richly valued software companies. However, we have grave concerns about underlying trends in its core franchises, questionable large M&A transactions, the credibility and transparency of the Company's accounting and financial reporting, the Company's increasingly frequent episodes of alleged consumer-unfriendly behavior, and the sustainability of its current premium valuation." The firm added: "However, in an attempt to be fair, we use reasonable peer company multiples for our "low" case and either Intuit's current 11x revenue multiple or the highest valued peer company as the "high" case. However, even using these assumptions, which we believe are generous, we see 21%-79% long-term potential downside risk. In addition, since some analysts reference free cash flow multiples for large, mature software companies, we perform an adjusted FCF based valuation analysis that implies 53%-74% potential downside in Intuit's share price."
Morning Watch List : https://www.optionmillionaires.com/september-20th-2024-watch-list/
Evercore ups Nike price target to $110, calls Hill return 'best case scenario'
Evercore ISI analyst Michael Binetti raised the firm's price target on Nike to $110 from $105 and keeps an Outperform rating on the shares after the company announced that CEO John Donahoe will retire and veteran Elliott Hill will return as CEO, which the firm calls "a best case scenario transition." The firm says it has long thought Elliott was "at the top of the list" of potential CEO successors and that while his departure from the company in 2020 as Nike deemphasized wholesale was "disappointing," Evercore "can't think of a better executive with the broad-based experience" needed and has "even more conviction that he is the best executive possible today-given the challenges in front of the business."
$AMZN Amazon price target raised to $240 at Evercore ISI --- Outperform Rated
Lower for longer
While the term "transitory" has fallen out of favor with the Fed, the word "recalibrate" is now in vogue. Chair Jerome Powell used the expression a total of 10x during his post-meeting press conference on Wednesday, and the markets are just loving it. Some time was needed to digest the new phrase, but it seems that it'll be one to add to the central bank lexicon going forward.
Translation: The Fed's past policy stance is being recalibrated to "lower for longer" to support the labor market and economic growth. As long as inflation doesn't resurface, the easing cycle should continue through 2026 and beyond. The accommodative stance is unleashing some animal spirits, with bullish forces igniting hopes of a soft landing, healthy corporate profits and resurgent growth.
Risk assets responded in kind on Thursday, and then some. The Dow Jones Industrial Average hit 42,000 for the first time in its history, the S&P 500 scored its 39th record close of the year, and the YTD gains for the Nasdaq Composite also returned to 20%, fueled by a rally in tech. Economic data on the labor market further boosted sentiment, with the number of Americans filing for initial jobless claims falling to its lowest level since May.
SA commentary: "In my view, this is great for markets," said Victor Dergunov, Investing Group Leader of The Financial Prophet. "It states that the Fed is serious about supporting the market. In a sense, the Fed put is back, which is excellent for high-quality stocks and other risk assets advancing from here. However, we must avoid a significant reversal. Also, it's crucial that the market focuses on the positives and doesn't panic because the Fed brought the bazooka out." (37 comments)
New sneakers
Nike (NKE) turned some heads by announcing that its CEO John Donahoe will step down and be replaced by retired insider Elliott Hill. Hill spent his career at Nike in various senior leadership positions across Europe and North America, and then retired following his role as president of Consumer & Marketplace in 2020. The news sent Nike shares soaring 7.6% AH on Thursday, with investors appearing confident in Hill's leadership as the footwear giant faces profit volatility, guidance shortcomings, competition headwinds, and a lack of strategic long-term clarity. (9 comments)
Compromised comms
Disney (DIS) will stop using corporate messaging platform Slack (CRM) following a cyberattack in which more than a terabyte of the company's data was leaked online. The data from thousands of Disney's Slack channels contained discussions about ad campaigns and studio technology, which were exposed by hacker group Nullbulge. Many teams have already started to transition to "streamlined enterprise-wide collaboration tools," according to an internal memo, with most of Disney's businesses expected to stop using the service later this year. (9 comments)
We understand?
In its latest quarterly results, FedEx (FDX) missed Q1 expectations and dropped its outlook for FY25, dragging shares 11% lower AH on Thursday. The package delivery behemoth blamed reduced demand for priority services, constrained yield growth, as well as higher operating expenses. The dimmed outlook will likely end a nine-day winning streak when the stock opens for regular trading today and reflects a very competitive pricing environment and challenging industrial economy. Rival UPS (UPS) shares also fell 2.4% AH following the results. (10 comments)
Today's Markets
In Asia, Japan +1.5%. Hong Kong +1.4%. China flat. India +1.6%.
In Europe, at midday, London -0.4%. Paris -0.7%. Frankfurt -0.7%.
Futures at 7:00, Dow +0.1%. S&P -0.3%. Nasdaq -0.5%. Crude -0.5% to $70.78. Gold +0.9% to $2,638.90. Bitcoin +2.1% to $63,663.
Ten-year Treasury Yield +1 bp to 3.73%.
Today's Economic Calendar
1:00 PM Baker Hughes Rig Count
2:00 PM Fed's Harker: Economic Outlook
Companies reporting earnings today »
What else is happening...
Darden (DRI) rallies on earnings, Uber-Olive Garden partnership.
OpenAI funding round in final stages, investor list soon finalized.
Bank of Japan keeps interest rate steady, as expected.
Target's CFO hire sparks intrigue at PepsiCo (PEP), Celsius.
Buffett's Berkshire (BRK.B) continues to trim stake in BofA (BAC).
Lightest fall maintenance season for U.S. refineries in three years.
Mobileye surges as Intel (INTC) has no plans to divest stake.
Ford (F) faces strike threat at tool and die plant in Michigan.
Warner Music (WMG) to lay off more employees in restructuring drive.
Societe Generale: How four election outcomes could impact markets.
TransDigm declares special cash dividend of $75.00 per share
TransDigm Group announced that its Board of Directors has authorized and declared a special cash dividend of $75.00 on each outstanding share of common stock and cash dividend equivalent payments on eligible vested options granted under its stock option plans. The record date for the special dividend is October 4, 2024, and the payment date for the dividend is October 18, 2024.
gooooooooood morning bobber
Darden price target raised to $176 from $165 at JPMorgan
JPMorgan raised the firm's price target on Darden to $176 from $165 and keeps an Overweight rating on the shares following the earnings report. The company is re-establishing its proven "Price Certainty" pre-Covid playbook at Olive Garden and benefitting from continued strength in steak, the analyst tells investors in a research note.
07:38 EDT TMO
Thermo Fisher price target raised to $670 from $650 at JPMorgan
JPMorgan raised the firm's price target on Thermo Fisher to $670 from $650 and keeps an Overweight rating on the shares following the investor day. The event focused on Thermo's ability to drive share gains on the back of its proven growth strategy, the analyst tells investors in a research note. The firm walked away more positive on the company after the event, citing "concrete examples of its three-pillar growth strategy driving share gains across the portfolio." JPMorgan reiterates Thermo Fisher as a top pick.
(Bloomberg) - The owner of the shuttered Three Mile Island nuclear plant in Pennsylvania will invest $1.6 billion to revive it, agreeing to sell all the output to Microsoft Corp. as the tech titan seeks carbon-free electricity for data centers ..$MSFT https://t.co/PNlZ5Fl76p
— Carl Quintanilla (@carlquintanilla) September 20, 2024
UPB in da HIZZLE
Nike CEO change positive for the stock, says Piper Sandler
Piper Sandler views Nike appointing Elliott Hill as the new CEO, with John Donahoe stepping down earlier than the Street was expecting, as a positive for the stock. The news removes an overhang in leadership and creates a "potentially interesting setup" with the investor day in November, the analyst tells investors in a research note. The firm says bringing a veteran back after significant turnover at the company "should also help culture-wise." At the same time, Piper continues to question the second half of fiscal 2025 improvement baked into Nike's guidance and expects the stock to stay range-bound until there's more color on the fundamentals and the new strategy. It keeps a Neutral rating on the shares with an $80 price target.
Upgrades - Sep 20, 2024
$AGNC: Wells Fargo Upgrades to Overweight from Equal Weight - PT $12 (from $10)
$APTV: Wells Fargo Upgrades to Overweight from Equal Weight - PT $87 (from $78)
$ASMB: Jefferies Upgrades to Buy from Hold - PT $35 (from $2)
$BOKF: Truist Securities Upgrades to Buy from Hold - PT $123 (from $112)
$CNTA: Morgan Stanley Upgrades to Overweight from Equalweight - PT $26 (from $11)
$NLY: Wells Fargo Upgrades to Overweight from Equal Weight - PT $23 (from $19)
$VC: Wells Fargo Upgrades to Overweight from Equal Weight - PT $122 (from $115)
Downgrades - Sep 20, 2024
$ACRE: Wells Fargo Downgrades to Underweight from Equal Weight - PT $7 (from $7.50)
$CMTG: Wells Fargo Downgrades to Underweight from Equal Weight - PT $8
$DAN: Wells Fargo Downgrades to Underweight from Equal Weight - PT $9
$DRI: Bernstein Downgrades to Market Perform from Outperform - PT $180 (from $190)
$FDX: Morgan Stanley Downgrades to Underweight from Equalweight - PT $200 (from $215)
$FRO: SEB Equities Downgrades to Sell from Buy - PT $19.05
$INSW: SEB Equities Downgrades to Hold from Buy - PT $55
$NTBL: JMP Securities Downgrades to Market Perform from Market Outperform
$PARR: Piper Sandler Downgrades to Neutral from Overweight - PT $23 (from $37)
$PB: Truist Securities Downgrades to Hold from Buy - PT $79 (from $81)
$PBF: Piper Sandler Downgrades to Underweight from Neutral - PT $25 (from $47)
$PEP: Morgan Stanley Downgrades to Equalweight from Overweight - PT $185
$RPD: RBC Capital Downgrades to Sector Perform from Outperform - PT $40 (from $50)
$STNG: SEB Equities Downgrades to Hold from Buy - PT $73
$VEL: Wells Fargo Downgrades to Underweight from Overweight - PT $20
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Moderator jimmybob | |||
Assistants Mikey leemalone2k3 stutz7 uranium-pinto-beans retiredMM Nolerman |
FOSL | jimmybob | 02/14/2012 09:54:12 AM |
FOSL and SODA ~ WATCH!!! | jimmybob | 02/14/2012 09:50:52 AM |
uranium-pinto-beans | | Tuesday, February 14, 2012 12:43:05 PM | ||
Re: uranium-pinto-beans post# 82823 | | Post # of 87811 |
uranium-pinto-beans | | Tuesday, February 14, 2012 8:20:48 PM | ||
Re: uranium-pinto-beans post# 83085 | | Post # of 87811 |
jimmybob | | Friday, March 02, 2012 11:58:33 AM | ||
Re: jimmybob post# 87690 | | Post # of 87809 |
jimmybob | | Friday, March 02, 2012 12:10:44 PM | ||
Re: jimmybob post# 87692 | | Post # of 87809 |
jimmybob | | Monday, February 13, 2012 11:22:59 PM | ||
Re: jimmybob post# 80632 | | Post # of 87807 |
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