Here are Friday’s biggest calls on Wall Street: DA Davidson initiates Teladoc as buy DA Davidson said it sees upside for the telehealth company. “COVID created unprecedented tailwinds for the market, which turned into headwinds; we believe we are now at stable to growing penetration rates for telehealth, and that Teladoc is well-positioned to continue … Read more
Value stocks have become so cheap relative to earnings that companies have been able to buy back a larger portion of their own market cap, David Einhorn says. The star manager’s Greenlight Capital just posted its best ever quarterly performance relative to the S & P 500 – and Einhorn attributed much of the success … Read more
Here are Tuesday’s biggest calls on Wall Street: Citi upgrades JPMorgan to buy from neutral Citi said in its upgrade of the banking giant that it’s a “high-quality” franchise. “We are upgrading JPM to a Buy as the stock no longer reflects premium valuation and higher capital levels (and limited buybacks) now seem priced in … Read more
My colleague Ellen Egeth noted Monday there was an unusual spate of downgrades, and that trend continued Tuesday. I suspect this is because analysts are finally starting to get concerned their second-half estimates are too high and are beginning to adjust. Look what happened today in several key sectors overnight: Banks Ahead of the flood … Read more
Check out the companies making headlines before the bell: PepsiCo (PEP) – The beverage and snack giant reported an adjusted quarterly profit of $ 1.86 per share, 12 cents above estimates, and revenue topped Wall Street forecasts. The company also raised its full-year forecast as consumer demand holds up even as prices rise. PepsiCo gained … Read more
A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. According to the National Association of Realtors, sales of existing homes dropped 3.4% to a seasonally adjusted annualized rate of 5.41 million units. Sales were 8.6% lower than in May 2021. As existing-home sales declined, the median price … Read more
CNBC’s Jim Cramer said that Tuesday’s market gains need to come down in order for the Federal Reserve to beat inflation as soon as possible. “Right now, the best outcome would be for the averages to come down quickly, so [Fed Chair Jay Powell] can get it over with, “he said. “Powell had better hope … Read more
Gas pumps sit empty at an Exxon gas station in Charlotte, North Carolina on May 12, 2021. LOGAN CYRUS | AFP | Getty Images Check out the companies making headlines in midday trading Tuesday. Exxon Mobil – Shares of Exxon Mobil jumped 5.5% after Credit Suisse upgraded them to outperform from neutral and said they … Read more
Check out the companies making headlines before the bell: Kellogg (K) – Kellogg jumped 8.1% in premarket trading after announcing plans to split into three separate public companies. One entity will comprise the snack and international cereal businesses, another the US cereal business and the third will be a pure-play plant-based food producer. Lennar (LEN) … Read more
Federal Reserve Chairman Jerome Powell adjusts his tie as he arrives to testify before a Senate Banking, Housing and Urban Affairs Committee hearing on “The Semiannual Monetary Policy Report to Congress” on Capitol Hill in Washington, July 15, 2021. Kevin Lamarque | Reuters Wall Street and the Federal Reserve appeared to enter a new reality … Read more