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Oct 4, 2024 8:05 PM - Davit Kirakosyan
Rivian Slashes Full-Year Production Forecast, Shares Drop Over 3%
Rivian Automotive (NASDAQ:RIVN) shares dropped over 3% on Friday after the company slashed its full-year production forecast, citing a major disruption caused by a shortage of a key component used across its R1 and RCV platforms. The electric vehicle maker now expects to produce between 47,000 and 4...
Oct 4, 2024 8:03 PM - Davit Kirakosyan
Abercrombie & Fitch Added to JPMorgan's Positive Catalyst Watch List, Stock Surges 9%
Shares of Abercrombie & Fitch (NYSE:ANF) gained more than 9% on Friday after JPMorgan Chase added the retailer to its Positive Catalyst Watch list, signaling confidence in the stock's near-term potential. The bank cited increased momentum in both Abercrombie's namesake brand and its Hollister divisi...
Oct 4, 2024 7:57 PM - Davit Kirakosyan
BofA Securities Boosts Shift4 Payments Price Target to $100, Citing Long-Term Growth Potential
Shift4 Payments (NYSE:FOUR) shares rose more than 2% on Friday after BofA Securities analyst raised their price target on the company to $100 from $88, reiterating their Buy rating. The analysts expressed optimism about the company's long-term growth, driven by end-to-end conversions, expansion into...
Oct 4, 2024 7:54 PM - Davit Kirakosyan
Stephens Reiterates Overweight Rating on Carvana, Highlights Market Share Growth Potential
Stephens analysts reaffirmed their Overweight rating and $190 price target on Carvana (NYSE:CVNA), emphasizing the company's potential in transforming the $1+ trillion U.S. used vehicle market. The analysts noted that Carvana's digital showroom, combined with its regionally centralized infrastructu...
Oct 4, 2024 7:51 PM - Davit Kirakosyan
JPMorgan Lowers Duckhorn Portfolio Price Target to $7 Ahead of Q4 Earnings Release
JPMorgan analysts reduced their price target for The Duckhorn Portfolio (NYSE:NAPA) to $7, down from $9, while maintaining a Neutral rating ahead of the company's Q4/24 earnings report, which is scheduled for October 7. The analysts kept estimates for Q4 unchanged, forecasting sales and EBITDA at $1...
Oct 4, 2024 7:48 PM - Davit Kirakosyan
Canaccord Genuity Raises DigitalOcean Price Target to $48, Stock Soars 8%
Canaccord Genuity analysts increased their price target on DigitalOcean (NYSE:DOCN) to $48 from $42 while maintaining their Buy rating. The company shares closed with more than an 8% gain on Friday. The analysts expressed optimism that the company could achieve broader cloud market growth rates of ...
Oct 3, 2024 12:29 PM - Davit Kirakosyan
Constellation Brands Surpasses Q2 Expectations, But Stock Falls 2%
Constellation Brands (NYSE:STZ) reported stronger-than-expected second-quarter earnings, driven by the continued success of its beer division, which outpaced the broader beverage market. However, following the announcement, the company's shares saw a more than 2% drop intra-day today. The company po...
Oct 3, 2024 12:26 PM - Davit Kirakosyan
Levi Strauss Reviews Dockers Brand for Potential Sale, Lowers Annual Revenue Forecast
Levi Strauss (NYSE:LEVI) announced that it is exploring strategic alternatives for its Dockers brand, including a potential sale, while also lowering its full-year revenue forecast, which sent its shares down more than 11% intra-day today. The company said the decision to review the Dockers brand i...
Oct 3, 2024 12:22 PM - Davit Kirakosyan
JPMorgan Raises Tesla Price Target to $130, Cites Softer Q3 Deliveries and 2024 Outlook
JPMorgan analysts raised their price target on Tesla (NASDAQ:TSLA) to $130 from $115 while maintaining an Underweight rating on the stock. The analysts explained the adjustment comes after Tesla reported lower-than-expected Q3 2024 deliveries of 462,890, which fell short of the 491,503 units previou...
Oct 3, 2024 12:18 PM - Davit Kirakosyan
Macquarie Lifts Roku Price Target to $90, Cites Impressive Growth
Roku (NASDAQ:ROKU) shares rose more than 1% intra-day today after Macquarie analysts raised the price target on the company to $90 from $72, maintaining an Outperform rating. The analysts highlighted Roku's impressive growth, noting that the platform now has 84 million active accounts, making it the...
Oct 3, 2024 12:14 PM - Davit Kirakosyan
Barclays Raises Lamb Weston Price Target to $74 Following Q1 Earnings
Barclays analysts raised the price target on Lamb Weston (NYSE:LW) to $74 from $70 while maintaining an Overweight rating, following the company’s reported Q1 beat. The analysts highlighted that Lamb Weston’s recent actions, including the permanent closure of its Connell, WA facility and temporary r...
Oct 3, 2024 11:52 AM - Davit Kirakosyan
TD Cowen Reiterates Buy Rating on Abbott Labs Ahead of Q3 Earnings
TD Cowen analysts reaffirmed their Buy rating and maintained a $130 price target on Abbott Labs (NYSE:ABT) stock. The analysts expressed confidence that Abbott's upcoming third-quarter results will likely meet or exceed Wall Street expectations, positioning the company to achieve its full-year guida...
Oct 3, 2024 7:00 AM - Parth Sanghvi
Goldman Sachs Suggests S&P 500 Could Surpass 6,000 by Year-End
Goldman Sachs has raised eyebrows with a bold projection that its current 6,000-point price target for the S&P 500 may actually be too conservative, sparking discussions among investors and analysts about the ongoing market rally and its sustainability. Key Highlights: Bullish Market Outlook: ...
Oct 3, 2024 7:00 AM - Parth Sanghvi
Stock Market Edges Higher Despite Rising Middle East Tensions
The stock market closed with modest gains, led by the Dow Jones Industrial Average, which eked out a small increase despite escalating tensions in the Middle East that weighed on investor sentiment. However, concerns over geopolitical instability and its potential economic impact continue to cast a ...
Oct 3, 2024 6:59 AM - Parth Sanghvi
AI-Driven Stock Picks for October Following September's Strong Gains
After securing three wins with notable gains in September, the AI-powered stock-picking system has identified several promising stocks for October. As investors eye fresh opportunities, these AI-generated insights aim to capitalize on evolving market trends. Key Highlights: Strong September Pe...
Oct 3, 2024 6:57 AM - Parth Sanghvi
Jobs Report Could Still Keep 50bps Fed Cut in Play, Says BofA
Bank of America (BofA) has weighed in on the recent jobs report, cautioning that despite the data, a 50 basis point (bps) rate cut by the Federal Reserve in November should not be fully ruled out. The report highlights key considerations for the market and policy outlook amid the Fed's rate-cutting ...
Oct 3, 2024 6:31 AM - Parth Sanghvi
Tesla Stock Falls Amid Lower-Than-Expected Deliveries
Tesla's stock experienced a drop after the electric vehicle giant reported weaker-than-expected delivery numbers. Investors had anticipated stronger growth in vehicle deliveries, but the actual figures fell short of projections, leading to a negative market reaction. Key Highlights: Delivery M...
Oct 2, 2024 2:40 PM - Davit Kirakosyan
Nike Shares Drop 7% After Q1 Results, Withdraws Guidance and Postponed Investor Day
Nike (NYSE:NKE) reported mixed fiscal first-quarter results, with revenue missing Street expectations and the company announcing it would delay its planned investor day amidst a leadership change. Additionally, Nike withdrew its annual revenue guidance, with a new CEO set to take over in mid-Octobe...
Oct 2, 2024 2:36 PM - Davit Kirakosyan
Tesla Falls 6% After Q3 Deliveries Fail to Impress Analysts
Tesla (NASDAQ:TSLA) shares dropped over 6% intra-day today after the company announced third-quarter 2024 deliveries of 462,890 vehicles. While this figure aligned with Wall Street analyst estimates, it fell short of investor hopes for a more substantial beat. Tesla's Q3 production totaled 469,796 v...
Oct 2, 2024 2:33 PM - Davit Kirakosyan
ConAgra Brands Misses Q1 Estimates, Shares Drop 8%
ConAgra Brands (NYSE:CAG) reported disappointing first-quarter fiscal 2025 results, falling short of Wall Street expectations as the company faced inflationary pressures and temporary manufacturing disruptions. The stock dropped 8% intra-day today following the earnings announcement. The food compan...
