J.P. Morgan economists say they now see a much slower economy in the second quarter, with growth of just 1%.Market Insiderread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses, writes Nomura.Marketsread more
United Airlines will take its 14 Boeing 737 Max jets off its schedule for another month, through Aug. 3, cancelling another 1,290 flights.Airlinesread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting one in every...Health and Scienceread more
The Pentagon will send additional American troops, drones and fighter jets to the Middle East amid increasing tensions between the United States and Iran.Defenseread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
A spokesman for Nadler told CNBC that the chairman is "okay," and that he "seems to have been dehydrated and it was very warm in the room."Politicsread more
The Moelis & Co. founder says the current market volatility from tense U.S.-China relations is impacting large-cap stocks.Investingread more
The meeting is expected to take place on the sidelines of the Shangri-La Dialogue defense summit in Singapore.Defenseread more
Here are the biggest calls on Wall Street on Tuesday:
Barclays said it believes that fliers will avoid the Boeing 737 Max when it's back in service.
"We expect the recovery of 737 MAX production to take longer than expected and our 2019-21 EPS & FCF forecasts are below consensus as a result. Our view is informed by our survey that indicates a large portion of fliers are likely to avoid 737 MAX for an extended period beyond when the grounding is lifted."
Read more about this call here.
Bernstein said the alternative meat based company will see rapid sales growth going forward.
"We are initiating coverage on Beyond Meat with an Outperform rating and target price of $81, which is 13x our FY20 sales estimate, vs. the 20x 2019 sales that the company is trading at today. Recent and planned expansions in production capacity look set to facilitate rapid sales growth in 2019 and beyond. If the alternative meat category develops along a similar path to plant-based beverages (from 5% - 15% of the market around a decade after the almond milk innovation turbocharged the category), then the total addressable market could be ~$40.5 billion in the U.S. within a decade. If Beyond Meat can secure a 5% market share (up from 2% today), this would imply sales of $2.0 billion in 2028 (vs. $88m in 2018 and ~$207m in 2019). "
Read more about this call here.
Stephens said the stock might be volatile but the company is positioned well to see user growth.
"We are initiating coverage on Roku, with an Overweight rating and $84 price target. The stock is likely to remain volatile (EV/NTM sales ranged 3x-10x LTM), but we would use weakness as buying opportunities. We like ROKU's LT industry position as an independent, branded, embedded and capital-light player at the nexus between smart TVs and an increasingly fragmented streaming video landscape, and we believe the Company is well positioned to grow users, engagement and ARPU. Our $84 PT assumes ROKU will trade at ~9x EV/20E Platform rev. and 16.5x EV/20E gross profit, and we believe the stock could appreciate 3x-5x over the next 3-5 years as consumers continue shifting to smart TVs and content providers (Disney+, Netflix, etc.) compete for new subs. "
Macquarie said they were impressed with Lululemon's analyst day.
"As Lululemon-branded anti-stink deodorant was passed out at the investor day, the company did a solid job laying out its five-year targets. While we wish more numbers were shared during the full-day presentation, the company addressed a number of our key concerns. We are upgrading to Neutral predicated on the new management team, international profitability inflecting and achievable five-year targets. "
Macquarie said the fitness center operator should continue to grow.
"We spread our install growth expectations through Q2-Q3, but maintain 235 exp. Corporate-owned comps have stayed higher for 2 Qs; we take our est. up for '19. Upgrade to Outperform, TP $85. PLNT shares should benefit from the continued growth and quality of the franchise business. "
BMO said it is bullish on Disney's new Star Wars-themed lands coming soon as well as Disney+.
"We continue to expect Disney to join Netflix and Amazon (also both OP rated) among the leaders in global streaming. DIS shares may need to consolidate near-term, but potential catalysts include two Star Wars-themed lands opening in Anaheim (May 31) and Orlando (August 29), and the launch of Disney+ on Nov 12. For Wednesday's print, investors should be prepared for ESPN sub declines to worsen as vMVPDs rationalize, but we think ESPN+ is a vital new offset, and we offer a deep dive on both it and Disney+ within. "