Ten 2020 Democratic presidential candidates will take the debate stage Wednesday at the Adrienne Arsht Center for the Performing Arts in Miami.2020 Electionsread more
Something unusual is happening in financial markets, and it could mean more gains lie ahead for stocks, if history is any indication.Marketsread more
Underneath the impressive market rally is a trend that doesn't seem quite right, according to J.P. Morgan.Marketsread more
Virginia Sen. Mark Warner breaks down the idea behind a bipartisan bill he introduced to provide more transparency in Big Tech.Technologyread more
Venezuelan President Nicolas Maduro said security forces had foiled an opposition coup attempt that included plans to assassinate him and other top political figures.World Politicsread more
Credit Suisse initiated coverage of Tesla Wednesday with an "underperform" rating and a price target 15% below where the stock closed.Marketsread more
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
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Online home goods retailer Wayfair sold roughly 1,600 mattresses and 100 bunk beds to Baptist Child and Family Services, a nonprofit that works as a federal contractor...Retailread more
"As a private company we don't have the tools to make the Russian government stop," Facebook CEO Mark Zuckerberg said at the Aspen Ideas Conference on Wednesday. "We can...Technologyread more
Wi-Fi 6 will be the next-generation wireless standard. Along with 5G, it will represent the next big shift in connectivity and data, said Irving Tan, senior vice president and...Shaping the futureread more
Here are the biggest calls on Wall Street on Thursday:
Goldman said the underperformance of the stock leads to a more "balanced" risk/reward.
"We upgrade M to Neutral from Sell following F1Q19 results, as we see a more balanced risk/reward in the wake of significant share price underperformance. Since our initiation at Sell on September 3, 2018, shares have fallen 41% vs. our coverage average of -16% and the S&P 500 of -2%. Our initial thesis was centered on our view that secular headwinds, coupled with traffic declines in M's core department store business, would outweigh upside from near-term strategic initiatives like Backstage. Since then, M has seen deteriorating fundamental trends, delivering three consecutive quarters of declining gross margins and operating profit dollars. M has also pursued a more aggressive roll-out of new initiatives to drive traffic and customer acquisition, which, while encouraging, have come with a step-up in necessary investments. While we continue to believe M will see fading fundamentals in the medium term as secular challenges weigh, we see near term risk/reward as less skewed to the downside following underperformance. "
Nomura downgraded the maker of insulation, roofing, and fiberglass composites and said it is concerned that 25% tariffs will lead to further deterioration in housing growth.
RBC upgraded KB Home and said it saw improvements in the home builder's pricing.
"We are upgrading KBH to Outperform and raising our Price Target to $30 from $25, as our analysis points to sequential improvements in KBH's pricing dynamics, showing better breadth of base floor plan price increases and diminishing levels of pricing reductions for both plans and spec inventory, alongside early signs of recovery in its key Western markets. Our $30 PT is based on 1.2x our YE'19E TBV. "
B. Riley FBR said the global motorsports company should see "further inflection" after spending the last few years "foundation building" with the Formula One teams.
"We are upgrading shares of Liberty Formula One, from Neutral to Buy, and raising our price target, from $35 to $46. While our valuation for the core F1 racing league, at $10.6B, is little changed from our initial January 2017 outlook, FWONK's 33% stake in Live Nation (LYV) has more than doubled since then, to $4.5B. After bottoming-out below $30 a share in late December, FWONK has recently throttled back towards all-time highs. This time, however, we see FWONK poised for a further inflection as it begins to harvest the benefits of two-plus years of foundation building and fostering better alignment with the 10 F1 teams. Moreover, our sentiment checks suggest interest in F1 is surging YTD, which bodes well for rights fee step ups heading into a group of major broadcast renewals in 2021, as well as new sponsorship and hospitality opportunities. Our base case provides 23% upside from current levels; but we also see the risk/reward here as favorably skewed, with a bull case yielding 54% upside and a bear case implying 20% downside. "