Markets are marinating in macro anxiety thanks to not-so-great economic data

This is the daily notebook of Mike Santoli, CNBC’s senior markets commentator, with ideas about trends, stocks and market statistics. More grist for the “growth scare” as further softening in manufacturing momentum drains economic confidence and bolsters the migration towards defensive assets. The main questions now are whether the markets are over-anticipating or underappreciating the … Read more

Micron, Kohl’s, Meta Platforms and more

Check out the companies making headlines in midday trading. Micron Technology – Shares of the chipmaker fell about 6% after the company issued disappointing fiscal fourth-quarter guidance and said weakening consumer demand will hurt smartphone sales. The warning pulled down other chip stocks, which were among the top decliners in the S&P 500. Western Digital … Read more

Wealthy customers will help Apple resist the effects of inflation

An employee arranges Apple iPhones as a customer shop at an Apple store. Mike Segar | Reuters The last time Apple faced an inflationary environment like this, it had been a public company for less than a year and its best-selling product was the Apple II home computer. In May, the annual inflation rate in … Read more

Apple, FedEx, Coinbase, Honeywell, Micron

Here are Wall Street’s biggest calls on Friday: Berenberg downgrades FedEx to hold from buy Berenberg said FedEx is “too much” of a “show me” story. “However, with near-term earnings risks now mounting and mixed prospects for the execution of the strategic review, we think the shares may pause for breath until the macroeconomic outlook … Read more

Kohl’s, Micron, Apple and more

Check out the companies making headlines before the bell: Kohl’s (KSS) – Kohl’s tumbled 17.9% in premarket trading after the retailer confirmed an earlier CNBC report that it ended talks to be bought by Vitamin Shoppe parent Franchise Group (FRG). Kohl’s said the deteriorating retail and financial environment presented significant obstacles to concluding a deal. … Read more

Bank of America downgrades Micron, says recovery is ‘unlikely’ this year

A recovery this year is “unlikely” for Micron Technology, given weak consumer demand for smartphones and PCs, according to Bank of America. The memory chip maker saw its shares fall after hours Thursday after issuing a warning on low chip demand. Analyst Vivek Arya downgraded shares of Micron to neutral from buy, saying in a … Read more

Micron warns weakening consumer demand will hurt smartphone sales

Sanjay Mehrota, Micron Technology President & CEO at the WEF in Davos, Switzerland on May 24th, 2022. Adam Galica | CNBC Micron Technology, a major vendor of memory chips for PCs and smartphones, said on Thursday that it expects smartphone sales to be significantly lower than previously expected for the rest of 2022, citing a … Read more

Amazon, FedEx, Snowflake, Tesla, Micron

Here are Tuesday’s biggest calls on Wall Street: Goldman Sachs downgrades Boston Beer to sell from neutral Goldman said in its downgrade of the beer and beverage company that the outlook for hard seltzer is “deteriorating.” The firm also upgraded Molson Coors to neutral from sell and said it sees a better risk / reward. … Read more

Tech the new value stocks? Here are the 10 cheapest names in tech

Value investors are likely seeing some surprising names pop up in their search for cheap names these days. Instead of consumer staples and energy stocks, names such as Netflix and Meta are likely catching the eye of these types of investors. After bearing the brunt of the bear market, many once high-flying technology shares are … Read more

Apple, Palantir, Exxon, Schwab, Micron

Here are Tuesday’s biggest calls on Wall Street: Morgan Stanley downgrades Adobe to equal weight from overweight Morgan Stanley said it sees slowing earnings per share growth for Adobe. “Beyond Seasonality – Expecting Structurally Slower EPS Growth Ahead; Downgrade to Equal-weight.” UBS downgrades Boston Beer, Keurig Dr. Pepper and Molson Coors to neutral from buy … Read more