duoogle Financial stocks rose 1.9% during the week that some of the U.S.’s biggest banks reported their Q2 earnings. The sector outpaced the broader S&P 500’s 0.9% gain. With June’s CPI report signaling the disinflation trend is continuing, traders boosted their bets that the Federal Reserve will cut rates byContinue Reading
Olemedia/E+ via Getty Images Albemarle (NYSE:ALB) +1% in Thursday’s trading despite a downgrade from Wells Fargo, which lowers shares to Equal Weight from Overweight with a $100 price target, cut from $145, even after recently dropping to nearly four-year lows. Wells Fargo analyst Michael Sison says confidence in his earningsContinue Reading
Wells Fargo spotlighted the pulse of the U.S. consumer on Tuesday morning, as the financial institution highlighted what certain companies are saying about overall purchasers, as some see a slow-down while others remain confident. “Continuing a trend we have seen in recent quarters, lower- and middle-tier consumers are becoming moreContinue Reading
Wells Fargo downgraded Bumble (NASDAQ:BMBL) to “Equal Weight” from a previous investment rating of “Overweight,” citing that buzz around the dating app platform’s April relaunch drove a “bump” in trends but barely any benefits were observed from it. The bank believes reacceleration is “likely more challenging” in the second halfContinue Reading
abadonian The boom in artificial intelligence technology development and demand sets up companies focused on natural gas as trend winners, Wells Fargo Investment Institute (WFII) said. Midstream energy companies focused on natural gas should be visible long-term beneficiaries from the build out of data-center capacity in the U.S. to runContinue Reading
Vertigo3d The S&P 500 (SP500) should see market breadth broadening through the end of the year and the beginning of next year, a Wells Fargo Market Commentary note said. Only four stocks — Microsoft (MSFT), Apple (AAPL), Nvidia (NVDA), and Alphabet (GOOG) — are responsible for over 52% of theContinue Reading
SeventyFour/iStock via Getty Images KLA Corp. (NASDAQ:KLAC) and Applied Materials (NASDAQ:AMAT) are Wells Fargo’s favorite semiconductor equipment stocks, even as the broader sector hits all-time highs, resulting in another “tough” earnings set up. “We [continue] to prefer KLA & AMAT; high bookings expects leave us to wait for post EPSContinue Reading
imaginima/iStock via Getty Images Algonquin Power (NYSE:AQN) edges lower in Monday’s trading after giving up early-session gains that followed Wells Fargo’s addition of the stock to its Q3 Tactical Ideas List, reiterating its Overweight rating and $8.50 price target while viewing the likely sale of the company’s renewables platform asContinue Reading
JHVEPhoto/iStock Editorial via Getty Images Wells Fargo added Kroger (NYSE:KR) to its Q3 Tactical Idea List. The firm said it likes the near-term setup for the grocery store stock. Analyst Edward Kelly and his team see strong potential for a beat-and-raise quarter for the grocery giant against what is saidContinue Reading
RTX (NYSE:RTX) this year is likely to be less profitable than previously estimated, analysts at financial-services firm Wells Fargo said in revising their forecast for the aerospace and defense company, whose operations include Collins Aerospace and jet-engine maker Pratt & Whitney. The revision comes as investors “appear to have concerns”Continue Reading
