Analyst news

• Why Jason and Travis Kelce could be the next $100 million podcasters

  04-03-2024 23:10 via rocketnews.com
  Star offensive lineman Jason Kelce retired from the NFL on Monday after 13 seasons with the Philadelphia Eagles, but will continue his burgeoning career as a podcaster. Jason and his brother Travis Kelce’s “New Heights” podcast, which launched in September 2022, has routinely appeared at No. 1 on various podcast charts on Apple AAPL, -2.54%and Spotify SPOT, +2.37%,and is reportedly being shopped around to media brands, according to a report last week from Bloomberg News.A new d
  
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• Nasdaq has gone more than 300 days without a major pullback. Does that mean a shakeout is overdue?

  04-03-2024 22:54 via rocketnews.com
  The tech-heavy Nasdaq-100 has gone 303 trading sessions without a pullback of 2.5% or more, the third-longest stretch since 1990, according to Jonathan Krinsky, chief market technician at BTIG.While this doesn’t necessarily mean the artificial-intelligence-driven boom in U.S. stocks is ripe for a selloff, Krinsky thinks the market is overdue for a bout of volatility. “Some sort of shakeout is likely coming, in our view,” Krinsky said.The Invesco QQQ Trust Series ETF QQQ,which t
  
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• GitLab’s weak earnings guidance is punishing its stock

  04-03-2024 22:33 via rocketnews.com
  GitLab Inc.’s stock dropped 12% in after-hours trading Monday after the company posted quarterly results that topped analysts’ estimates but issued weak guidance.GitLab GTLB, +1.58%reported a fiscal fourth-quarter net loss of $37.6 million, or 23 cents a share, compared with a net loss of $42.1 million, or 26 cents a share, in the same quarter a year ago. Adjusted earnings were 15 cents a share. Revenue climbed 33% to $163.8 million from $122.9 million in the year-ago quarter.Analyst
  
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• The last two scenarios when U.S. stocks went up this quickly? During the dot-com bubble and after recessions.

  04-03-2024 22:32 via rocketnews.com
  The historic stock-market rally has shown few signs of stopping since October — with the S&P 500 advancing in 16 of the last 18 weeks for the first time since 1971. There have been only two other scenarios when U.S. stocks climbed this fast over any four-month period since World War II, and the recent rally has “strong parallels” to both, according to a Deutsche Bank analyst.The first scenario was when the economy was emerging from recession, such as after the COVID-19 pand
  
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• Nine largest U.S. banks can handle their ‘problematic’ exposure to office real estate, S&P says

  04-03-2024 22:15 via rocketnews.com
  The largest U.S. banks face “problematic” exposure to office real estate, but they’re big enough to handle it, according to a recent analysis from S&P Global Ratings. That’s the conclusion from S&P after reviewing fourth-quarter updates from nine major U.S. banks: JPMorgan Chase & Co. JPM, +0.75%,Bank of America Corp. BAC, +2.33%,Bank of New York Mellon Corp. BK, ,Citigroup Inc. C, +0.97%,Goldman Sachs Group Inc. GS, +1.07%,Morgan Stanley MS, +4.12%,Wells Farg
  
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• 2-year Treasury yield notches biggest one-day jump in over 2 weeks as investors look ahead to Powell’s testimony, labor-market data

  04-03-2024 22:15 via rocketnews.com
  U.S. Treasury yields were higher on Monday after struggling to unwind the big rally in government debt from weaker-than-expected economic data last week, while traders awaited Federal Reserve Chair Jerome Powell’s congressional testimony and a fresh slew of labor-market data due later this week.What happened The yield on the 2-year Treasury BX:TMUBMUSD02Yrose 7.5 basis points, climbing to 4.606% on Monday, from 4.531% last week. It was the largest one-day yield advance for the 2-year note
  
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• Why the bull market in stocks may need some bad economic news to keep climbing

  04-03-2024 22:14 via rocketnews.com
  The bull market in U.S. stocks needs a dose of bad economic news to continue pushing higher, according to Marko Papic, chief strategist at the Clocktower Group. Stocks notched down on Monday, after Friday saw the S&P 500 SPXand Nasdaq Composite COMPrise deeper into record territory. But for the bull-market run to continue, equities need weaker U.S. economic data, Papic said in a Monday client note.“The simple way to boil down our view is that we remain firmly in the ‘bad news is
  
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• Dow Jones slips, S&P 500 struggles for direction after record high

  04-03-2024 21:00 via rocketnews.com
  U.S. stocks tradedlower Monday afternoon, pausing a rally after the S&P 500 logged its 16th winning week out of the last 18 and investors awaited a busy week that features congressional testimony by Federal Reserve Chair Jerome Powell and all-important jobs data.What’s happening The Dow Jones Industrial Average DJIAfell 102 points, or 0.3%, to 38,988. The S&P 500 SPXdipped 2 points, or less than 0.1% to 5,134 The Nasdaq Composite COMPlost 38 points, or 0.2%, to trade at 16,236.The
  
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• Apple’s stock has had a sour 2024. This bull sees ‘a host of tailwinds’ ahead.

  04-03-2024 20:33 via rocketnews.com
  Some of the technology sector’s big 2023 winners have continued their ascents into this year, but not shares of Apple Inc. Shares of the iPhone maker were down 3% in Monday trading and they’re off about 10% to start 2024.But an Evercore ISI analyst sees “a host of tailwinds stacking up in [Apple’s] favor,” even as the consumer-electronics giant has lost some of its shine on Wall Street in the wake of a disappointing March-quarter outlook that implied revenue wo
  
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• Forget about Super Tuesday. For Trump, it’s going to be March Madness in court.

  04-03-2024 20:27 via rocketnews.com
  Who has time to run for office? Just as the presidential-campaign season kicks into high gear with the Super Tuesday primaries, Donald Trump finds himself mired in a perfect storm of legal problems. In March, the first of four criminal trials Trump faces is set to begin. He also must resolve the pressing issue of securing the more than half a billion dollars in bonds he needs in order to appeal two civil cases he lost earlier this year.Trump’s legal travails have done little so far to dent
  
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• EU’s record Apple antitrust fine is just the start of a Big Tech regulatory crackdown this year

  04-03-2024 20:03 via rocketnews.com
  As Apple Inc. absorbs the regulatory body blow of a record $1.95 billion antitrust fine from the European Union on Monday, its legal team is bracing for yet another epochal action. The U.S. Department of Justice is in the final stages of a years-long investigation into Apple AAPL, -2.46%,which could lead to a lawsuit as soon as this month. The probe — which reportedly focuses on everything from the seamless integration between the iPhone and Apple Watch, to the company’s digital-paym
  
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• More households are prepared for retirement — but this good news might not last

  04-03-2024 19:56 via rocketnews.com
  The release of the Federal Reserve’s undefined (SCF) offers an opportunity to reassess Americans’ retirement preparedness as measured by the National Retirement Risk Index (NRRI). The NRRI estimates the share of American households that are at risk of being unable to maintain their preretirement standard of living in retirement. Constructing the NRRI involves three steps:1) projecting a replacement rate — retirement income as a share of preretirement income — for a n
  
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• It’s not just Lyft — companies make mistakes in earnings press releases at least once a week, analysis finds

  04-03-2024 19:46 via rocketnews.com
  When companies prepare to put out quarterly earnings releases, they take a deep look at what their rivals are saying, the questions analysts are asking and the broader attitudes of the markets, according to Nick Mazing, director of research at market intelligence firm AlphaSense.The process, he said, brings together investor relations teams and consultants, the chief financial officer and, possibly, the CEO. It requires drafting up press releases, regulatory filings and slide decks, pre-recordin
  
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• Two more stock indexes are on track for records: What that means for the bull market

  04-03-2024 19:32 via rocketnews.com
  Another two U.S. equity indexes are poised to reach record territory for the first time in more than two years, indicating that more U.S.-listed stocks are joining a rally that has been criticized for its dependence on Big Tech. The S&P 400 MidCap Index MIDis poised to close in record territory on Monday for the first time since Nov. 16, 2021. Meanwhile, the Invesco S&P 500 Equal Weight exchange-traded fund RSP,which tracks the S&P 500 Equal-Weighted Index, also appears headed for it
  
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• S&P 500’s breadth ‘still narrow’ after record peak — with these four stocks driving February gains

  04-03-2024 19:26 via rocketnews.com
  The S&P 500 index is trading around record highs after just four stocks drove nearly half of its gains in February, according to BofA Global Research.  “U.S. equities outperformed other asset classes including bonds” last month, said BofA equity and quantitative strategists in a research note dated March 2. “But breadth was still narrow.” Megacap tech companies Nvidia Corp. NVDA, +6.06%,Meta Platforms Inc. META, -0.20%,Amazon.com Inc. AMZN, +0.04%and Microso
  
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• Macy’s bonds rally along with stock after investor group sweetens takeover bid

  04-03-2024 19:14 via rocketnews.com
  Macy’s Inc.’s shares climbed 15.4% Monday, and its high-yield bonds rallied along with them, after an investor group seeking to take over the department-store chain sweetened its bid by roughly $800 million. Arkhouse Management and Brigade Capital raised their bid for the company to $24 a share, or about $6.6 billion, from $21 a share, or about $5.8 billion. The Macy’s board rejected the earlier offer in January, saying at the time that it lacked “compelling value.”
  
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• Boeing’s stock rises after American Airlines shows confidence in 737 Max jets

  04-03-2024 18:38 via rocketnews.com
  Shares of Boeing Co. turned higher Monday after American Airlines Group Inc. included the aerospace giant’s troubled 737 Max line in its orders for 260 new aircraft, which aims at boosting premium seating by 20%. American said its orders include 85 Boeing 737 Max 10s, 85 Airbus A321neo and 90 Embraer E175 aircraft, with options and rights to buy an additional 193 aircraft.As part of the Boeing orders, American said it converted 30 existing 737 Max 8 orders to 737 Max 10 aircraft.The order
  
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• Fed has the luxury of making policy without pressure of urgency, Bostic says

  04-03-2024 18:02 via rocketnews.com
  With the labor market strong and growth above trend, there isn’t pressure on the U.S. central bank to cut interest rates, Atlanta Fed President Raphael Bostic said Monday. “The good news is the labor market and economy are prospering, furnishing the FOMC the luxury of making policy without thepressure of urgency,” Bostic said in a new essay posted on his regional bank’s website. The Atlanta Fed president, who is a voting member of the Fed’s interest-rate committee,
  
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• Tesla’s stock slides 5% after fresh volley of price cuts and discounts from EV maker

  04-03-2024 17:53 via rocketnews.com
  Shares of Tesla Inc. fell more than 5% Monday amid a fresh round of discounts and price cuts by the electric-vehicle maker in China and in the U.S. In China, Tesla TSLA, -6.34%is offering incentives of up to about $5,000 through March on Model 3 and Model Y vehicles in inventory, Deutsche Bank analyst Emmanuel Rosner said in a note Monday, citing news reports. The new incentives include insurance discounts, discounts on paint changes and preferential financing plans on the Model Y, he said. In t
  
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• NYCB’s stock continues its slide even despite one analyst’s vote of confidence

  04-03-2024 17:34 via rocketnews.com
  Wall Street’s negative sentiment around New York Community Bancorp continued Monday even as an analyst reiterated a buy rating on the stock and said its business remains strong enough to handle expected loan risk. The ratings actions around New York Community Bancorp’s stock NYCB, -11.41%remained mixed, however, as Moody’s Investors Service issued its second debt downgrade on the bank in about a month. New York Community Bancorp’s stock fell 11.4% to $3.15 on Monday. Jann
  
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• 25 of the best-performing stocks in the S&P 500 appear to be better values than they were a year ago. Nvidia is one of them.

  04-03-2024 17:31 via rocketnews.com
  Some investors love to ride along with momentum, and the biggest question is always how long the big market moves may last. Over the past year, the U.S. stock market as a whole has gotten more expensive on a forward price-to-earnings basis. So this may be a good moment to dig a bit deeper into this commonly used valuation metric and highlight stocks that combine momentum with declining P/E ratios.A stock’s forward P/E ratio is its price divided by the consensus earnings-per-share estimate,
  
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• Dow Jones slips as S&P 500, Nasdaq edge back from records

  04-03-2024 17:28 via rocketnews.com
  U.S. stocks were slightly lower Monday, pausing a rally after the S&P 500 logged its 16th winning week out of the last 18 as investors awaited a busy week that features congressional testimony by Federal Reserve Chair Jerome Powell and all-important jobs data.What’s happening The Dow Jones Industrial Average DJIAfell 121 points, or 0.3%, to 38,966. The S&P 500 SPXwas down 5 points, or 0.1%, at 5,132. The Nasdaq Composite COMPlost 35 points, or 0.2%, to trade at 16,240.The S&P 5
  
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• Want free tax prep from the IRS? The Direct File program is now available in these 12 states.

  04-03-2024 17:24 via rocketnews.com
  The Internal Revenue Service’s free tax-prep platform is open for business. After slowly increasing capacity on its Direct File platform, the IRS made the platform available to a wider audience on Monday. The platform is expected to be fully up and running on March 12. The pilot program can only prepare relatively basic tax returns, and it will only be available to eligible taxpayers in 12 states: Arizona, California, Florida, Massachusetts, Nevada, New Hampshire, New York, South Dakota, T
  
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• What you need to know about taxes on bitcoin ETFs before you buy or sell

  04-03-2024 17:17 via rocketnews.com
  For all its opportunities, bitcoin BTCUSD, +5.64%has posed a number of challenges for investors. On top of the inherent difficulties of understanding blockchain terminology and the underlying technology, the challenges of understanding how to convert a fiat currency to cryptocurrency, manage the cryptographic keys and maintain custody of the assets have limited access to this asset class for many retail investors.The tide turned last January when the U.S. Securities and Exchange Commission appro
  
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• All the reasons we’re glad we took Social Security early

  04-03-2024 17:09 via rocketnews.com
  This article is reprinted by permission from NextAvenue.org. As retirement approaches you must face the question, “What is the best age for me to claim Social Security?” Experts declare that you should avoid taking reduced payments at 62 unless you need the money immediately or have health issues that may shorten your lifespan.They almost unanimously advise waiting until full retirement age (66 and 6 months in 2024) to receive 100% of benefits earned. Postponing until the maximu
  
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• Super Micro’s stock is a clear ‘AI winner,’ but here’s why Goldman is cautious

  04-03-2024 17:04 via rocketnews.com
  Super Micro Computer Inc. is a proven “AI winner” according to Goldman Sachs analyst Michael Ng, but that doesn’t necessarily mean you should buy the stock.With the shares up nearly 1,000% since the start of 2023, they’re “fairly valued,” in Ng’s view. He initiated coverage of Super Micro’s stock SMCI, +26.62%with a neutral rating and $941 target price Monday, writing of its “premium valuation” after that big run higher. Super Micro has
  
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• Dementia is not an inevitable part of aging — these 3 things can help

  04-03-2024 17:01 via rocketnews.com
  One very normal concern we have as we age is the question of whether we will gradually slip into dementia, or Alzheimer’s (there is a bit of a difference between the two, by the way).  The basic definition of dementia is a decline in mental function. Don’t worry: Misplacing your keys or cellphone, which I seem to do a lot, isn’t a sign. What is, says AARP, is “a loss of functioning that interferes with daily life,” which “can diminish focus, attentio
  
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• JetBlue and Spirit Airlines agree to terminate their 2022 merger agreement after regulatory pushback

  04-03-2024 14:59 via rocketnews.com
  JetBlue Airways Corp. and Spirit Airlines Inc. said Monday they have reached an agreement to terminate their July 2022 merger agreement, sending the former’s stock up 6% in early trade. “Although both companies continue to believe in the procompetitive benefits of the combination, JetBlue JBLU, -0.15%and Spirit SAVE, +0.16%mutually agreed that terminating is the best path forward for both companies as required closing conditions, including receiving necessary legal and regulatory app
  
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• Bank of America boosts S&P 500 target to 5,400. Here’s how it got there.

  04-03-2024 14:46 via rocketnews.com
  Futures suggest Wall Street’s new week will get off to a cautious start, albeit with major stock barometers holding at record highs. Over just the last three months the Nasdaq Composite COMPhas climbed 13.8% and the S&P 500 SPXhas gained 11.8%. Worrywarts are seeking synonyms for bubble.But a team at Bank of America, led by Savita Subramanian, equity and quant strategist, remains bullish, increasing their end of year S&P 500 target from 5,000 to 5,400. To be clear, Subramanian says
  
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• ‘Free Fire’ parent Sea’s stock soars after revenue beat amid e-commerce strength

  04-03-2024 14:03 via rocketnews.com
  Shares of Sea Ltd. soared toward a seven-month high Monday, after the e-commerce and online-gaming platform company reported fourth-quarter revenue that beat expectations. The Singapore-based company’s results were fueled by strength in its e-commerce business, Shopee. And while the digital-entertainment business, Garena, missed revenue expectations, among the “positive trends” seen was the “Free Fire” game achieving more than 100 million peak daily active users in
  
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• Low VIX caused by ETFs, not options-hungry day traders, says the BIS

  04-03-2024 13:58 via rocketnews.com
  Persistently low levels for the CBOE VIX index are likely the result of investors piling into yield-enhanced exchange traded funds, according to the umbrella institution for central banks. The Bank for International Settlements, based in Basel, Switzerland, says in its quarterly report published Monday that a low VIX of late is unlikely to have been caused by retail traders’ predilection for buying short-term options and was instead caused by the popularity of structured products which off
  
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• Traders will be looking for subtle signs of shift at ECB meeting

  04-03-2024 11:33 via rocketnews.com
  Christine Lagarde is expected to give little away at the European Central Bank’s upcoming monetary policy meeting in Frankfurt this Thursday meaning markets will be left looking for subtle signs of the bank’s intentions as investors are increasingly pricing in cuts for June.    The bank will almost certainly keep interest rates unchanged at 4%, having held them at record highs since October following a series of 10 consecutive hikes in 2023, as it pushes forward in its
  
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• Yen relies on carry trade. Forecast as of 04.03.2024

  04-03-2024 11:21 via litefinance.org
  
  When the topic of divergence in Fed-BoJ monetary policy loses its relevance, traders should closely monitor carry trades, stock indexes and volatility. Let us discuss the Forex outlook and make up a trading plan for USDJPY.Weekly Japanese yen fundamental forecastThe statements of official Tokyo and the views of financial markets sound the same, but the meaning is different and often opposite. Japanese Deputy Finance Minister Masato Kanda said that the government is not satisfied with the hi
  
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• Short-term analysis for oil, gold, and EURUSD for 04.03.2024

  04-03-2024 08:50 via litefinance.org
  
  I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.The euro is growing with a target around February 22 high.Oil price forecast for today: USCrude analysisLast Friday, oil updated its February 28 high. As a result, the price approached the Target Zone of 82.34 - 81.35. At the moment, the price is correct
  
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• Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 04.03.2024

  04-03-2024 07:47 via litefinance.org
  
  I welcome my readers!I have prepared a short-term cryptocurrency forecast based on the Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.Elliott wave Bitcoin analysisThe BTCUSD market is forming a new bullish impulse with the sub-wave [3] developing inside. Wave (1) of [3] is developing, with sub-waves 1-2-3-4 completed inside. The price is rising in sub-wave [5] of 5 to a level 67250.00, where wave 5 will be 161.8% of impul
  
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• Euro to think twice. Forecast as of 04.03.2024

  04-03-2024 07:22 via litefinance.org
  
  Haste makes waste. Central banks are in no hurry to cut the rates. The ECB will hardly announce active changes in its policy at its March meeting. Expectations for the interest rate remaining at the current levels support the EURUSD growth. Let us discuss the Forex outlook and make up a trading plan.Weekly Euro fundamental forecastIf the stock market is ruled by Greed, then the keyword for Forex is Caution. A rate cut in 2024 is a must, but the more cautious the central bank is, the better for i
  
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• Investor group raises Macy’s buyout bid by nearly $1 billion

  04-03-2024 01:34 via rocketnews.com
  Arkhouse Management and Brigade Capital are raising their offer to buy Macy’s by almost $1 billion, in hopes of taking the department-store chain private. In a statement Sunday, the investor group said it was increasing its bid to acquire Macy’s M, +3.27%to $24 a share, or about $6.6 billion, up from a bid of $21 a share, or about $5.8 billion, that Macy’s board rejected in January, saying at the time that it lacked “compelling value.”Arkhouse and Brigade said their
  
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