Tesla is working on new battery cell designs, and a way to make their own cells, with R&D teams in a lab near its car plant in Fremont, California.Technologyread more
The Federal Reserve and the market are miles apart on interest rate expectations, and the disparity could cost the stock market a 7%-10% drop, economists say.Economyread more
Underneath the impressive market rally is a trend that doesn't seem quite right, according to J.P. Morgan.Marketsread more
JP Morgan's Jamie Dimon says student lending "is a disgrace and it's hurting America."Economyread more
Bitcoin topped the $13,000 level Wednesday, rallying to its highest price since January 2018.Bitcoinread more
Wayfair drew backlash and calls from some customers for a boycott after employees protested the company's apparent sale of $200,000 of mattresses and bunk beds destined for a...Retailread more
The president raised $6 million alone at a fundraiser he attended at the Trump International Hotel on Tuesday in Washington.Politicsread more
During the foreclosure crisis, investors transformed the single-family home rental market into a formally managed asset class. Now they want new homes.Real Estateread more
The first debates will give most of the contenders their biggest platform yet to present themselves to the American people.Politicsread more
The shutdown of the fire-damaged Philadelphia Energy Solutions refining complex could send gasoline prices higher across the U.S., but particularly in the mid-Atlantic region...Market Insiderread more
President Trump lambastes Twitter, Google and other technology giants for what he claims as their efforts to stifle him.US Economyread more
Here's the biggest calls of the day that we're watching:
"We continue to view Home Depot as a best-in-class operator and believe its 2019 EPS guidance is achievable, given the company's good execution track record, flexibility in the model, and potential to drive productivity improvements... However, we came away from the earnings call concerned that the company's 5% comp guidance for 2019 could prove optimistic, given a housing market that is slowing, albeit still positive, and as it already bakes in benefits from its strategic initiatives... We believe Home Depot tried to remain within the 4.5%-6.0% annual sales growth target through 2020 it provided at its December 2017 analyst day; however, housing has since slowed and the lower end of the range at ~4.5% sales growth seems more realistic at this later stage in the cycle... As such, after being positive on the stock since 2012, we are downgrading our rating on HD to Market Perform from Outperform... "
"The PMI valuation hinges on its heated tobacco proposition, iQOS... We use a quantitatively derived framework and a proprietary, 40 market global tobacco model to size the opportunity... Based on this, we expect iQOS net revenue to grow from $4 billion in 2018 to $10.6 billion by 2021... With easy comparisons and a benign tax environment for 2019 in key markets, we upgrade to Buy... "
"We are lowering our estimates of UW-rated Weight Watchers and adding it to the US Equity Analyst Focus List as our top short idea after the company issued 2019 EPS guidance of $1.25- $1.50 that was well below even our bearish estimate of $2.50 going into the print... We believe 2019 revenue guidance may be at risk as it embeds: (1) recruitment trends improve from current levels following the Spring marketing campaign and easy 2H compares; (2) retention rates improve to over 10 months during 2019 vs. 9-10 months currently; and (3) limited marketing re-investments beyond 1Q19, which will likely constrain recruitment efforts... "
"Mylan reported decent quarter, meeting top-line and missing modestly on high SG&A... Guidance was roughly as we expected on the top line with new product driving solid growth... This is where the good news ends...Our thesis for Mylan was that 2019 will be the breakthrough year for the company... We had that right, but didn't see the margin compression. At the guidance level, we do not see the compelling argument for buying the stock... We are downgrading here and we will come back to it either at lower price or more clarity that the execution is being delivered... "
"DECK's management of its brands and the company's results continue to improve... However, the majority of those improvements appear to be baked into the stock price... There is ~9% upside based on the current stock price to get to our new price target of $161 ($150 prior), which reflects 18x our FY21 EPS estimate. We remain positively inclined regarding DECK, but the upside is below Susquehanna's threshold to maintain our Positive rating... "