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
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
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
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
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 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
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
People walk past an electronic sign displaying news on the Adani Group at the Bombay Stock Exchange building in Mumbai on Jan. 27, 2023. Trading in the business empire of Asia’s richest man Gautam Adani was halted following a 15% plunge in its share price, days after a US investment firm claimed it had committed … Read more
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
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