Jim Chanos says he’s still shorting Tesla as EV competition increases, profit margin peaks

Jim Chanos says he’s still shorting Tesla as EV competition increases, profit margin peaks

Famed short seller Jim Chanos said Monday he’s still betting against Tesla as competition in the electric vehicle market ramps up. “I just think that it’s really that the choices now are increasing,” Chanos said on CNBC’s “Fast Money” in Miami Monday. “The bears were wrong on competition. It took a long time to show … Read more

Dan Niles says he wouldn’t touch Apple going into earnings

Hedge fund manager Dan Niles said Monday that he wouldn’t invest in Apple heading into its quarterly earnings given the high valuation. “I wouldn’t touch Apple,” Niles said on CNBC’s “Closing Bell” Monday. “This company was not growing revenues in 2019 … and don’t forget smartphone unit sales for the entire industry were down four … Read more

The strong January in stocks could be a positive sign for the year

January’s stock market gains may be a good sign for the rest of the year, even though many strategists still expect continued turbulence and possibly a new low before the market recovers into the year-end. The S & P 500 was up 5.1% for January so far in Monday trading. “Since World War II, if … Read more

Federal Reserve likely to hike interest rates again. How to prepare

The Federal Reserve is widely expected to announce its eighth consecutive rate hike at this week’s policy meeting. This time, Fed officials likely will approve a 0.25 percentage point increase as inflation starts to ease, a more modest pace compared to earlier super-size moves in 2022. Still, any boost in the benchmark rate means borrowers … Read more

Morgan Stanley upgrades Colgate-Palmolive, calls sell-off a good entry point to buy its top pick

Colgate-Palmolive is a top stock compared with peers and it’s cheap to buy right now, Morgan Stanley said. Analyst Dara Mohsenian upgraded the stock to overweight from equal weight and named it her top pick in the household and personal care industry. Her price target of $82 implies 14.5% upside from Friday’s close. The stock … Read more

Barclays names 6 UK stocks to buy, saying 2 offer more than 50% upside

Barclays Capital has named six London-listed stocks to buy as it believes the UK stock market is currently “cheap” and “under-owned.” Two of the investment bank’s picks — Drax Group and IG Holdings — are also predicted to rise by more than 50% in the next 12 months, thanks to several policy tailwinds. The bank … Read more

Cramer sees this year’s pudding rally signaling a different kind of bull market

This nascent bull market started with the peak in interest rates and the dollar back in the fall and then broadened to include bank and semiconductor stocks in 2023. Is it fragile? Is it alchemy? Is it real? We’ll know after we see the quarterly earnings this week from the likes of Club holdings Apple … Read more

Forget US stocks. Wall Street names its favorite European picks

European stocks are having a good year so far. The benchmark Stoxx 600 is up around 7% since the beginning of 2023 — its strongest start in over 26 years, according to Bernstein’s analysis. That’s better than the S & P 500, which returned 5.8% in the same period. While the underperformance has been marginal, … Read more

Here comes the biggest week of earnings. Plus an AI ode to the Dow

Jobs. Cool decision. Earnings galore. The week ahead has it all. First, the fourth-quarter reports. While only six companies in the Dow Jones Industrial Average are reporting next week, about 20% of the S & P 500 reports, making it the biggest week of earnings this season. It’s also the Club’s biggest week. We’ll hear … Read more