Wall Street misunderstands Tesla, says analyst whose lowest price target is triple current levels

An analyst for a firm with a major investment in Tesla said Friday that recent drastic price-target cuts on the stock by others on Wall Street are missing the big picture. Tasha Keeney, an Ark analyst, said in an interview on CNBC’s “Squawk Box” that Wall Street is “misunderstanding the Tesla story” and the potential upside of Elon Musk’s vision. This week, Morgan Stanley put a worst-case of $10 per share on Tesla. The electric vehicle maker began the month saying it would raise more than $2 bil


An analyst for a firm with a major investment in Tesla said Friday that recent drastic price-target cuts on the stock by others on Wall Street are missing the big picture. Tasha Keeney, an Ark analyst, said in an interview on CNBC’s “Squawk Box” that Wall Street is “misunderstanding the Tesla story” and the potential upside of Elon Musk’s vision. This week, Morgan Stanley put a worst-case of $10 per share on Tesla. The electric vehicle maker began the month saying it would raise more than $2 bil
Wall Street misunderstands Tesla, says analyst whose lowest price target is triple current levels Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: matthew j belvedere
Keywords: news, cnbc, companies, misunderstands, ark, value, price, month, street, target, triple, musk, stock, billion, vehicles, share, tesla, levels, current, lowest, wall


Wall Street misunderstands Tesla, says analyst whose lowest price target is triple current levels

An analyst for a firm with a major investment in Tesla said Friday that recent drastic price-target cuts on the stock by others on Wall Street are missing the big picture.

Ark Invest, whose founder predicted on CNBC last year that Tesla could hit $4,000 per share, stands by that call, even as the stock has lost about 40% of its value in 2019.

Tasha Keeney, an Ark analyst, said in an interview on CNBC’s “Squawk Box” that Wall Street is “misunderstanding the Tesla story” and the potential upside of Elon Musk’s vision. Musk’s accomplishments are widely acknowledged, but he’s gotten himself and Tesla into trouble with the government over his comments, stemming from an August tweet about possibly taking the company private with “funding secured.”

Keeney said Ark believes so strongly in Tesla that its five-year, bear-case scenario is $560 per share, which would be nearly triple the value of where the stock closed Thursday at $195.

This week, Morgan Stanley put a worst-case of $10 per share on Tesla. A day later, Citigroup said the stock could fall to $36 per share.

Tesla has always been a battleground stock as one of the most loved and hated. Tesla is also one of the most shorted stocks. Shorting a stock is a bet that it will go down.

The electric vehicle maker began the month saying it would raise more than $2 billion through stock and convertible debt. The company’s cash burn and need to repeatedly raise money has been a concern among its detractors.

Keeney, however, said Ark is not troubled by additional fundraising. “If we talk about cash, and those worries, in our valuation model we actually expect, we have Tesla raising an additional $10 billion to $20 billion in the next five years. And we’re actually OK with that.”

“We want them to get as many cars on the road as possible” with the next step of running a “fully autonomous taxi network.” Last month, Musk promised 1 million vehicles on the road next year that are able to function as “robo-taxis,” a claim that was generally thought to be optimistic, at best.

On an investor call earlier this month, two of the invitees told CNBC that Musk predicted autonomous driving will transform Tesla into a company with a $500 billion stock market value. As of Thursday’s close, Tesla’s market cap was just over $34 billion.

Keeney admits that Musk sets “extremely aggressive goals” and often falls short. “But in doing that, in sort of pushing to that target, they’ve been able to achieve the impossible so far.”

She also countered the argument that demand for Tesla vehicles is waning. “Sixty-nine percent of the trade-ins for the Model 3, for the standard range version, were non-premium vehicles. So they are pulling in demand from other segments. They outsold their next best competitor by 60% in the premium vehicle segment.”

“People clearly like these cars for a good reason. Tesla has a software advantage that no one else can beat,” she added.


Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: matthew j belvedere
Keywords: news, cnbc, companies, misunderstands, ark, value, price, month, street, target, triple, musk, stock, billion, vehicles, share, tesla, levels, current, lowest, wall


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Wall Street analysts are worried most about these stocks following the US crackdown on Huawei

The ban on chipmakers selling to Huawei is having ramifications felt far and wide. Some adjusted their price targets while one analyst went even further and removed a buy rating. “Huawei accounted for 13% and 8% of Qorvo’s F’19 and F’18 revenue, respectively,” said analyst T. Michael Walkley. “We believe our estimate reductions will likely prove conservative, as we believe the ban will likely get resolved in the coming months.” Here are what analysts are saying about stocks downgraded on Huawei


The ban on chipmakers selling to Huawei is having ramifications felt far and wide. Some adjusted their price targets while one analyst went even further and removed a buy rating. “Huawei accounted for 13% and 8% of Qorvo’s F’19 and F’18 revenue, respectively,” said analyst T. Michael Walkley. “We believe our estimate reductions will likely prove conservative, as we believe the ban will likely get resolved in the coming months.” Here are what analysts are saying about stocks downgraded on Huawei
Wall Street analysts are worried most about these stocks following the US crackdown on Huawei Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: michael bloom
Keywords: news, cnbc, companies, likely, revenue, price, street, went, wall, ban, huawei, following, crackdown, believe, skyworks, analyst, analysts, stocks, worried


Wall Street analysts are worried most about these stocks following the US crackdown on Huawei

A man walking past a Huawei P20 smartphone advertisement is reflected in a glass door in front of a Huawei logo, at a shopping mall in Shanghai, China December 6, 2018.

The ban on chipmakers selling to Huawei is having ramifications felt far and wide. Even as the U.S. government decided to delay imposing the restrictions by 90 days, that’s not stopping Wall Street analysts from handing out downgrades and urging clients to adjust their portfolios.

It’s also hurting the broader market. Tech is the worst-performing sector this month, sliding more than 5%.

While a few analysts remain hopeful for a resolution in the near-term, most weren’t taking their chances surrounding the overall uncertainty. Some adjusted their price targets while one analyst went even further and removed a buy rating.

Semiconductor companies Qorvo and Skyworks recently had their price targets reduced by analysts at Canaccord.

“Huawei accounted for 13% and 8% of Qorvo’s F’19 and F’18 revenue, respectively,” said analyst T. Michael Walkley. “We believe our estimate reductions will likely prove conservative, as we believe the ban will likely get resolved in the coming months.”

“Huawei is the third largest customer for Skyworks and accounted for 10% of the company’s F’17 revenue but below 10% for F’18, and we believe Huawei could represent roughly 10% of Skyworks revenue going forward should the ban get lifted due to improving 5G infrastructure demand,” Walkley said.

The collateral damage continued this week when telecommunications equipment company Lumentum cut earnings guidance.

“We think the negative revenue impact from lost Huawei sales will likely be higher in 1QFY20 than in 4QFY19 due to there being a full quarter of ban in place,” said MKM analyst Michael Genovese. He lowered his price target on the stock to $60 from $72.

One analyst was more succinct in his downgrade of electronic measurement company, Keysight Technologies.

“What’s bad for the U.S. tech Industry isn’t a positive for KEYS. China-related uncertainty may be an overhang on the shares in the near term,” said Baird analyst Richard Eastman who went from outperform to neutral on the stock.

Here are what analysts are saying about stocks downgraded on Huawei concerns:


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: michael bloom
Keywords: news, cnbc, companies, likely, revenue, price, street, went, wall, ban, huawei, following, crackdown, believe, skyworks, analyst, analysts, stocks, worried


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Pinterest plunges after earnings but Wall Street analysts are sticking with the stock

Wall Street analysts are sticking with Pinterest despite a very rocky first earnings report Thursday after the bell. Analysts at UBS noted Pinterest is in a, “unique position,” in its space and reiterated its confidence in the company’s ability to execute over the long haul. “While its initial earnings report & forward commentary were roughly inline with Street estimates, we still see signs that PINS long-term narrative is solidly intact,” wrote UBS analyst Eric Sheridan in his recap not to clie


Wall Street analysts are sticking with Pinterest despite a very rocky first earnings report Thursday after the bell. Analysts at UBS noted Pinterest is in a, “unique position,” in its space and reiterated its confidence in the company’s ability to execute over the long haul. “While its initial earnings report & forward commentary were roughly inline with Street estimates, we still see signs that PINS long-term narrative is solidly intact,” wrote UBS analyst Eric Sheridan in his recap not to clie
Pinterest plunges after earnings but Wall Street analysts are sticking with the stock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: michael bloom
Keywords: news, cnbc, companies, plunges, analyst, ubs, stock, street, pinterest, wall, analysts, report, intact, view, trading, earnings, wasnt, sticking


Pinterest plunges after earnings but Wall Street analysts are sticking with the stock

Wall Street analysts are sticking with Pinterest despite a very rocky first earnings report Thursday after the bell. The social media platform posted a much bigger loss than many expected.

Most analysts feel the social media company, which went public last month, is on the right track and said to use the pullback as an opportunity to buy the shares.

“The stock could remain volatile near term, but management laid out a compelling roadmap that should ensure ongoing strong revenue growth and a route to attractive profitability over the medium term,” Atlantic Equities analyst James Cordwell said.

Shares plunged 15% in premarket trading Friday to $25.79, still above the stock’s $19 IPO price but just around its closing price on its first day of trading of $24.40.

The negative earnings headlines were mostly, “noise,” according to Baird analysts.

“Overall, fundamentals are intact, and we view significant near-term weakness as an attractive buying opportunity,” analyst Colin Sebastian said.

Analysts at UBS noted Pinterest is in a, “unique position,” in its space and reiterated its confidence in the company’s ability to execute over the long haul.

“While its initial earnings report & forward commentary were roughly inline with Street estimates, we still see signs that PINS long-term narrative is solidly intact,” wrote UBS analyst Eric Sheridan in his recap not to clients.

One analyst admitted the earnings report wasn’t great but wasn’t backing down from his buy rating.

“Though the headline outlook may have missed the mark, we believe expectations have been broadly reset for the rest of the year and our view on the long-term drivers of the business remain intact (and actually pulled in a bit),” Nomura analyst Mark Kelley said.

Here are what the major analysts are saying about Pinterest earnings:


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: michael bloom
Keywords: news, cnbc, companies, plunges, analyst, ubs, stock, street, pinterest, wall, analysts, report, intact, view, trading, earnings, wasnt, sticking


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In the battle of Trump personalities, ‘Tariff Man’ is winning, and Wall Street isn’t ready for it

Two of President Donald Trump’s priorities — a strong stock market and a tough China trade deal — are at odds. Year to date, Trump has tweeted about seven times per week on the subjects of China, trade and tariffs — the same average frequency for jobs, stocks and the economy. “Tariff Man,” as Trump once described himself, is winning the battle of the president’s personalities, and “Dow Man” is just going to have to take a back seat for a while. “It’s impossible — the risk reward here is that alm


Two of President Donald Trump’s priorities — a strong stock market and a tough China trade deal — are at odds. Year to date, Trump has tweeted about seven times per week on the subjects of China, trade and tariffs — the same average frequency for jobs, stocks and the economy. “Tariff Man,” as Trump once described himself, is winning the battle of the president’s personalities, and “Dow Man” is just going to have to take a back seat for a while. “It’s impossible — the risk reward here is that alm
In the battle of Trump personalities, ‘Tariff Man’ is winning, and Wall Street isn’t ready for it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: kate rooney
Keywords: news, cnbc, companies, china, wall, battle, president, research, presidents, economy, trump, winning, tariff, personalities, trade, street, policy, ready, trumps, isnt, tariffs, man


In the battle of Trump personalities, 'Tariff Man' is winning, and Wall Street isn't ready for it

Two of President Donald Trump’s priorities — a strong stock market and a tough China trade deal — are at odds. The conflict is frustrating Wall Street as it chases a moving target of pricing in a particular outcome. Traders are hanging on the president’s every word looking for an easing in his rhetoric and a potential softening in the ongoing trade war. If tweets are any indication, the president’s focus is shifting. In the past two weeks, his Twitter mentions of trade-related terms were double his mentions of the economy and stocks. Year to date, Trump has tweeted about seven times per week on the subjects of China, trade and tariffs — the same average frequency for jobs, stocks and the economy. During the week of May 5, though, his China and trade mentions rose to roughly 46 times, while he mentioned economy-related phrases about 17 times, according to analysis of his Twitter feed. There is some overlap, as he occasionally bundles multiple subjects in the same tweet. “Tariff Man,” as Trump once described himself, is winning the battle of the president’s personalities, and “Dow Man” is just going to have to take a back seat for a while.

‘It’s impossible’

Wall Street analysts find the job of predicting the president’s mindset on a daily basis for clients to be a difficult task. “It’s impossible — the risk reward here is that almost all of this is at the discretion of President Trump,” Raymond James Washington policy analyst Ed Mills said. “You can’t know entirely what his intentions are.” On one hand, Trump is appealing to his base with a tough stance on trade ahead of the 2020 election. But economists say less trade between the world’s largest economies threatens to dampen growth, at least in the near term.

That is taking a toll on global growth expectations and therefore the stock market. The Dow Jones Industrial Average — Trump’s go-to report card for a strong economy — dropped 600 points Monday following new rounds of retaliatory tariffs. It rallied on Tuesday on more trade optimism and again moved higher on Wednesday. Overall, the Dow is down a little more than 3% since Trump escalated the trade war 10 days ago by tweeting a threat to raise tariffs on China, which he followed through with on Friday. “The problem is that the president has two conflicting polls here,” Fundstrat Washington policy strategist Thomas Block told CNBC. “He obviously watches the Dow and has friends who probably call him up and say, ‘Donald, we’re getting killed’ — that’s why that’s one side of Donald Trump. But there has also emerged a very political side.” The political side has increased tariffs from 10% to 25% on $200 billion in Chinese imports. The U.S. is also taking necessary legal steps to slap another round of 25% tariffs on $300 billion of imports, which would happen in June at the earliest. Block highlighted uncertainty that he said is leading him to tell clients to “stay on the sidelines.” “If I felt I understood Donald Trump’s mind better than anybody else and had a high level of confidence about the outcome, Fundstrat would have to pay me more money than they could afford,” Block said. Block said his instinct is that “some sort of agreement” gets done around a June G-20 meeting. But he said Trump’s priorities, and therefore public stance, could change last minute.

‘Turn on a dime’

Isaac Boltansky, director of policy research for Compass Point Research & Trading, is also navigating this fickle market. He said clients are “cognizant of the fact that this narrative can turn on a dime.” “The near-term sentiment shift has been undeniably warranted given recent developments, but investors recognize that the president could change market sentiment with a single tweet,” Boltansky said. Trump rolled out the “Tariff Man” persona in a tweet in early December, a month that saw the S&P 500 drop 9.2% in its worst month since the financial crisis. But the approach has played to his base and is part of the campaign’s strategy heading into 2020. Trump is also using the stance as ammo against Democratic candidate and former Vice President Joe Biden, who supported the Trans-Pacific Partnership. “Tariffs are focused right at the electoral map of Trump, particularly farm states,” said Dan Clifton, a partner and head of policy research for Strategas Research Partners. “At the same time, Trump can make a convincing case that Biden has been weak on China, and a standoff with China benefits his re-election.”

China has responded to U.S. tariffs with its own hike on $60 billion worth of U.S. goods. That hits farmers at “every single angle,” according to an economist at the American Farm Bureau Federation. To curb the effect of Beijing’s retaliatory duties, Trump said this week that farmers would receive about $15 billion in aid. His campaign is betting that farmers will support Trump despite the hit to American agriculture. “A deal with China to end their bad behavior would provide even more long-term benefit to the economy,” Tim Murtaugh, the Trump campaign’s communications director, told CNBC. “Farmers are patriotic and understand that someone had to finally call China to account.” Murtaugh also pointed to a booming economy, another rallying point ahead of 2020. GDP growth in the first quarter grew by 3.2% — its best start to a year since 2015. In April, unemployment fell to its lowest level since 1969.

10% drop before he changes tune


Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: kate rooney
Keywords: news, cnbc, companies, china, wall, battle, president, research, presidents, economy, trump, winning, tariff, personalities, trade, street, policy, ready, trumps, isnt, tariffs, man


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Cramer: Wednesday’s ‘crazy session’ is a perfect example of the market’s new normal

A cross current of bad retail data and market-moving news out of the White House carried Wall Street higher on Wednesday, CNBC’s Jim Cramer said. “I want to walk you through what happened in this crazy session because it is a perfect encapsulation of the new normal.” Macy’s saw action during the session similar to Ralph Lauren’s the day prior, Cramer said. The Trump administration has imposed tariffs on 40% of imports from China and is considering slapping duties on the remaining 60%, Cramer sai


A cross current of bad retail data and market-moving news out of the White House carried Wall Street higher on Wednesday, CNBC’s Jim Cramer said. “I want to walk you through what happened in this crazy session because it is a perfect encapsulation of the new normal.” Macy’s saw action during the session similar to Ralph Lauren’s the day prior, Cramer said. The Trump administration has imposed tariffs on 40% of imports from China and is considering slapping duties on the remaining 60%, Cramer sai
Cramer: Wednesday’s ‘crazy session’ is a perfect example of the market’s new normal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: tyler clifford
Keywords: news, cnbc, companies, session, wall, white, crazy, wednesdays, chinese, today, cramer, normal, trump, trade, stocks, tariffs, street, example, markets, perfect


Cramer: Wednesday's 'crazy session' is a perfect example of the market's new normal

A cross current of bad retail data and market-moving news out of the White House carried Wall Street higher on Wednesday, CNBC’s Jim Cramer said.

The Dow Jones Industrial Average gained nearly 116 points Wednesday. The S&P 500 advanced 0.58%, while the Nasdaq Composite advanced 1.13%.

“We got a weird combination of tailwinds today … Turns out we can get good news, too, and some days like today the stock market actually makes sense,” the “Mad Money” host said. “I want to walk you through what happened in this crazy session because it is a perfect encapsulation of the new normal.”

The market had a rough opening after news that retail sales declined for the second time in three months, tallying a 0.2% fall in April. The weakness included autos, home centers and the internet stores, Cramer said.

That brought the benchmark 10-year Treasury to its lowest yield of the year at 2.37% and pushed buyers into stocks with safe, consistent dividends, he noted, including Kimberly-Clark and PepsiCo. Money also moved into Facebook, Amazon, Netflix and Google’s Alphabet, along with the financial technology plays of PayPal, Square Inc., Visa and MasterCard, he added.

Even health care stocks, which have been hurting amid calls from some Democratic presidential candidates for a single-payer system, rallied because the industry does well in a slowing economy, Cramer said.

Macy’s saw action during the session similar to Ralph Lauren’s the day prior, Cramer said. The department chain’s share price rallied after the company reported an earnings beat and recorded higher-than-expected sales in the morning, but the company ultimately revealed how vulnerable it is to tariffs and finished down 0.46%.

The Trump administration has imposed tariffs on 40% of imports from China and is considering slapping duties on the remaining 60%, Cramer said.

“If that happens, the analysts will have to slash their estimates on this one,” Cramer said. “Macy’s won’t be alone. Almost every retailer has some exposure because they’ve spent decades sourcing their merchandise from Chinese vendors in order to keep costs down. Now that’s blowing up in their faces.”

Later in the day, news broke that the White House plans to delay automotive tariffs by up to six months.

“I can’t overemphasize the importance of this leaked news,” Cramer said. “In one fell swoop, [President Donald] Trump went from being a hated protectionist, know-nothing to someone who might be cleverly assembling a coalition of the willing in the trade war against the Chinese, at least in the eyes of Wall Street.”

Furthermore, more CEOs of companies that deal with China are warming up to the action that Trump has taken on the country, Cramer said.

That includes Goldman Sachs CEO David Solomon, who on Tuesday tweeted: “Tariffs might be an effective negotiating tool.” Cramer also highlighted that New York Times foreign affairs columnist Tom Friedman, who is a proponent of globalization, came out in support of the trade war.

“To me, these represent tectonic shifts in the Wall Street consensus,” Cramer said. “I think it gives Trump a much better bargaining position versus the Chinese, and it certainly gave us higher stock prices.”


Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: tyler clifford
Keywords: news, cnbc, companies, session, wall, white, crazy, wednesdays, chinese, today, cramer, normal, trump, trade, stocks, tariffs, street, example, markets, perfect


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Wall Street analysts are sticking by these stocks hit hard by the trade war

The Dow dropped a s much 719 points on Monday as the trade war continued its escalation but is higher in early trading on Tuesday. CNBC did a deep dive through sell-side stock research since the trade war escalated to find companies that analysts are singling out in their respective coverage universes. Wall Street analysts aren’t backing down from their buy ratings on stocks that have been hit hard in the latest trade battle between the U.S. and China. Wall Street will be watching Alibaba’s earn


The Dow dropped a s much 719 points on Monday as the trade war continued its escalation but is higher in early trading on Tuesday. CNBC did a deep dive through sell-side stock research since the trade war escalated to find companies that analysts are singling out in their respective coverage universes. Wall Street analysts aren’t backing down from their buy ratings on stocks that have been hit hard in the latest trade battle between the U.S. and China. Wall Street will be watching Alibaba’s earn
Wall Street analysts are sticking by these stocks hit hard by the trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: michael bloom
Keywords: news, cnbc, companies, war, sticking, buy, analysts, wall, earnings, trade, hard, street, tariffs, services, hit, chinese, china, company, stocks


Wall Street analysts are sticking by these stocks hit hard by the trade war

Apple CEO Tim Cook attends the annual session of China Development Forum (CDF) 2018 at the Diaoyutai State Guesthouse in Beijing, China March 26, 2018.

The Dow dropped a s much 719 points on Monday as the trade war continued its escalation but is higher in early trading on Tuesday.

CNBC did a deep dive through sell-side stock research since the trade war escalated to find companies that analysts are singling out in their respective coverage universes.

Wall Street analysts aren’t backing down from their buy ratings on stocks that have been hit hard in the latest trade battle between the U.S. and China. While the two countries continue slapping tariffs on each other, many analysts say clients should use the market weakness as a time to buy these beaten down shares because the risks are overblown.

Wall Street will be watching Alibaba’s earnings report on Wednesday for any signs of the trade war effect on the Chinese e-commerce giant.

The most recent actions by the White House have brought “greater uncertainty,” to the company, but SunTrust analysts are sticking with their buy rated call. “The latest data out of National Bureau of Statistics of China suggests that the macro environment has been improving, a positive for Chinese consumption, and for BABA in particular,” analyst Youssef Squali said.

“Long term we view BABA as a winner considering 1) its dominance of the Chinese ecom. mkt and the insatiable appetite for China’s growing middle class, 2) it’s a 25%+ compounder over the next 5 yrs (our ests), and 3) its portfolio of strategic invests,” he added.

Shares of the company are down 4% over the last week.

Apple has also been hit hard by the ongoing trade uncertainty, but Wedbush analysts say things might not be as bad as they appear.

“That said, for Apple in particular we believe the way things stand today the bark will be worse than the bite for Cupertino around China headwinds and we would be buyers of the name on weakness,” said analyst Dan Ives who’s keeping his outperform rating on the stock.

Apple, which was the worst performer on the Dow on Monday, is down more than 8% over the last week.

Despite the trade dispute, Credit Suisse analysts are not backing down from their calls on some business services stocks.

Alarm.com, provides cloud services for remote control home monitoring services and has an outperform rating at the firm.

The company recently reported earnings and stated that tariffs were indeed having an effect.

“ALRM highlighted on its most recent earnings call that higher tariffs have modestly impacted hardware sales,” analyst Kevin McVeigh said.

The stock is down more than 15% over the last week.

Here are other buy-rated stocks analysts are sticking by in the trade war:


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: michael bloom
Keywords: news, cnbc, companies, war, sticking, buy, analysts, wall, earnings, trade, hard, street, tariffs, services, hit, chinese, china, company, stocks


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FAA reportedly didn’t review crucial safety assessments of Boeing 737 Max system before fatal crashes

The Federal Aviation Administration’s internal probe of Boeing’s 737 Max approval process has reportedly found that senior agency officials failed to review key safety assessments of the plane’s flight-control system that was later implicated in two fatal crashes. The preliminary findings, reported by The Wall Street Journal, are the first to shed light on how the faulty design of the so-called MCAS system, which led to crashes that killed 346 people in October and March, remained in the Max fle


The Federal Aviation Administration’s internal probe of Boeing’s 737 Max approval process has reportedly found that senior agency officials failed to review key safety assessments of the plane’s flight-control system that was later implicated in two fatal crashes. The preliminary findings, reported by The Wall Street Journal, are the first to shed light on how the faulty design of the so-called MCAS system, which led to crashes that killed 346 people in October and March, remained in the Max fle
FAA reportedly didn’t review crucial safety assessments of Boeing 737 Max system before fatal crashes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: emma newburger
Keywords: news, cnbc, companies, boeings, shed, system, reportedly, fatal, wall, senior, crashes, socalled, review, safety, faa, crucial, street, didnt, max


FAA reportedly didn't review crucial safety assessments of Boeing 737 Max system before fatal crashes

The Federal Aviation Administration’s internal probe of Boeing’s 737 Max approval process has reportedly found that senior agency officials failed to review key safety assessments of the plane’s flight-control system that was later implicated in two fatal crashes.

The preliminary findings, reported by The Wall Street Journal, are the first to shed light on how the faulty design of the so-called MCAS system, which led to crashes that killed 346 people in October and March, remained in the Max fleet. Boeing’s Max jets have been grounded since March.


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: emma newburger
Keywords: news, cnbc, companies, boeings, shed, system, reportedly, fatal, wall, senior, crashes, socalled, review, safety, faa, crucial, street, didnt, max


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Cramer: ‘I don’t trust this market at all’ because it’s so dependent on Trump tweets

“I don’t trust this market at all,” Cramer warned on “Squawk on the Street” as stock futures pointed to a higher Wall Street open, which in fact came to pass through the morning. Cramer said he was troubled by Trump’s barrage of tweets Tuesday, calling them “a little erratic,” including the one about the Federal Reserve. Trump is “really disturbing the zeitgeist of the stock market,” Cramer said. However, in light of the uncertainty around Trump’s new tweets, Cramer on Tuesday advised investors


“I don’t trust this market at all,” Cramer warned on “Squawk on the Street” as stock futures pointed to a higher Wall Street open, which in fact came to pass through the morning. Cramer said he was troubled by Trump’s barrage of tweets Tuesday, calling them “a little erratic,” including the one about the Federal Reserve. Trump is “really disturbing the zeitgeist of the stock market,” Cramer said. However, in light of the uncertainty around Trump’s new tweets, Cramer on Tuesday advised investors
Cramer: ‘I don’t trust this market at all’ because it’s so dependent on Trump tweets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: matthew j belvedere
Keywords: news, cnbc, companies, trumps, stock, worth, sp, trump, trust, dependent, wall, tweets, cramer, street, dont, market, 500


Cramer: 'I don't trust this market at all' because it's so dependent on Trump tweets

CNBC’s Jim Cramer voiced concern about the staying power of the stock market’s bounce Tuesday following President Donald Trump’s latest tweetstorm on China trade and Monday’s sharp decline.

“I don’t trust this market at all,” Cramer warned on “Squawk on the Street” as stock futures pointed to a higher Wall Street open, which in fact came to pass through the morning. “[Trump] has made it so we got to wait to be able to buy.”

Cramer said he was troubled by Trump’s barrage of tweets Tuesday, calling them “a little erratic,” including the one about the Federal Reserve.

Trump is “really disturbing the zeitgeist of the stock market,” Cramer said. “He should knock the tweets off if he wants the Dow to start going up, at least today.”

On “Mad Money” on Monday evening — after the Dow Jones Industrial Average and the S&P 500 each lost about 2.4% on China’s tariff response to last week’s U.S. hike — Cramer said Wall Street is nearly oversold and investors should get ready to load up on names that can withstand higher tariffs.

However, in light of the uncertainty around Trump’s new tweets, Cramer on Tuesday advised investors to let things shake out, saying there may be a buying opportunity in stocks later in the session.

In late morning trading, the S&P 500 was making up about half of Monday’s losses, which had sent the index down for a total of nearly 5% from its May 1 intraday all-time high. So far in 2019, the S&P 500 has gained about 13% — and since the crushing Christmas Eve 2018 low, the index has soared more than 20%.

On Monday, China said it will raise tariffs, some to as high as 25%, on $60 billion in U.S. goods, in retaliation for the Trump administration’s decision last week to increase duties on $200 billion worth of Chinese products from 10% to 25%.

Meanwhile, the Office of the U.S. Trade Representative is taking steps to prepare to slap tariffs on the remaining billions and billions of dollars worth of Chinese goods coming into the U.S.


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: matthew j belvedere
Keywords: news, cnbc, companies, trumps, stock, worth, sp, trump, trust, dependent, wall, tweets, cramer, street, dont, market, 500


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Here’s what Wall Street thinks of the unfolding trade deal drama: ‘Potential for a bear market’

In a note to clients, Bank of America outlined three trade scenarios and its implications for the broader market. “The worst-case scenario: an all-out trade war, with tariffs on the remaining Chinese goods, retaliation from China, and an increased risk of auto tariffs that could push the global economy into recession,” wrote Savita Subramanian. “Under a deal, we expect the S&P 500 could rally above 3000 near-term…while under a full-fledged trade war, the S&P 500 could pull back 5-10% near-term


In a note to clients, Bank of America outlined three trade scenarios and its implications for the broader market. “The worst-case scenario: an all-out trade war, with tariffs on the remaining Chinese goods, retaliation from China, and an increased risk of auto tariffs that could push the global economy into recession,” wrote Savita Subramanian. “Under a deal, we expect the S&P 500 could rally above 3000 near-term…while under a full-fledged trade war, the S&P 500 could pull back 5-10% near-term
Here’s what Wall Street thinks of the unfolding trade deal drama: ‘Potential for a bear market’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-10  Authors: michael bloom, carlos barria
Keywords: news, cnbc, companies, street, drama, wall, china, war, expect, trump, tariffs, potential, market, trade, sp, marketthe, thinks, unfolding, bank, deal, heres


Here's what Wall Street thinks of the unfolding trade deal drama: 'Potential for a bear market'

In a note to clients, Bank of America outlined three trade scenarios and its implications for the broader market.

“The worst-case scenario: an all-out trade war, with tariffs on the remaining Chinese goods, retaliation from China, and an increased risk of auto tariffs that could push the global economy into recession,” wrote Savita Subramanian.

“Under a deal, we expect the S&P 500 could rally above 3000 near-term…while under a full-fledged trade war, the S&P 500 could pull back 5-10% near-term, with potential to enter a bear market.”

“The next focal point for markets will be whether we see Trump and Liu actually meet. As mentioned, a potential release valve for sentiment would be if Trump and Xi speak on the phone following Liu’s visit,” Deutsche Bank said.

“We expect China to hike retaliatory tariffs, and the US to begin the process of imposing tariffs on all other imports from China, but further US tariff increases are still unlikely in our view and would likely take a couple months to implement,” said Goldman Sachs chief economist Jan Hatzius.


Company: cnbc, Activity: cnbc, Date: 2019-05-10  Authors: michael bloom, carlos barria
Keywords: news, cnbc, companies, street, drama, wall, china, war, expect, trump, tariffs, potential, market, trade, sp, marketthe, thinks, unfolding, bank, deal, heres


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Chevron, the loser in the Anadarko buyout battle, is actually a winner on Wall Street

Michael Wirth, CEO of Chevron, speaking at the 2019 WEF in Davos, Switzerland on Jan. 23rd, 2019. Occidental Petroleum may have spoiled Chevron’s plans to acquire oil and gas driller Anadarko Petroleum, but Wall Street is not pronouncing the oil company the loser in the buyout battle. Several analysts are commending Chevron for declining to counter Occidental’s $38 billion bid for Anadarko. Chevron not only walks away with a $1 billion breakup fee, but showed investors it won’t sacrifice its bud


Michael Wirth, CEO of Chevron, speaking at the 2019 WEF in Davos, Switzerland on Jan. 23rd, 2019. Occidental Petroleum may have spoiled Chevron’s plans to acquire oil and gas driller Anadarko Petroleum, but Wall Street is not pronouncing the oil company the loser in the buyout battle. Several analysts are commending Chevron for declining to counter Occidental’s $38 billion bid for Anadarko. Chevron not only walks away with a $1 billion breakup fee, but showed investors it won’t sacrifice its bud
Chevron, the loser in the Anadarko buyout battle, is actually a winner on Wall Street Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-09  Authors: tom dichristopher
Keywords: news, cnbc, companies, chevron, occidental, street, actually, offer, battle, petroleum, loser, bid, winner, billion, analysts, wall, oil, share, buyout, anadarko


Chevron, the loser in the Anadarko buyout battle, is actually a winner on Wall Street

Michael Wirth, CEO of Chevron, speaking at the 2019 WEF in Davos, Switzerland on Jan. 23rd, 2019.

Occidental Petroleum may have spoiled Chevron’s plans to acquire oil and gas driller Anadarko Petroleum, but Wall Street is not pronouncing the oil company the loser in the buyout battle.

Several analysts are commending Chevron for declining to counter Occidental’s $38 billion bid for Anadarko. Chevron not only walks away with a $1 billion breakup fee, but showed investors it won’t sacrifice its budget sheet in a bidding war, the analysts say.

The San Ramon, California-based energy giant was under pressure to hike its original $65 per share offer into the $70s after the underdog Occidental sweetened its offer this week. For Occidental, funding a $76 per share bid relied in part on agreeing to a steep 8% annual payout to Warren Buffett in order to secure a $10 billion investment from the Oracle of Omaha.


Company: cnbc, Activity: cnbc, Date: 2019-05-09  Authors: tom dichristopher
Keywords: news, cnbc, companies, chevron, occidental, street, actually, offer, battle, petroleum, loser, bid, winner, billion, analysts, wall, oil, share, buyout, anadarko


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