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 are the biggest calls on Wall Street on Friday:
Atlantic Equities upgraded the stock mostly on valuation after the company's earnings report.
"We are upgrading Uber to Overweight from Neutral due to an increasingly benign competitive environment in ridehailing and more attractive stock valuation. We expect the improving ridehailing competitive landscape to drive accelerating revenue growth and moderating segment losses in that business across FY19, while a new Eats fee structure should augment food delivery unit economics while still enabling rapid gross bookings growth. Meanwhile, the stock is now on less than 0.7x FY20 EV/gross bookings, which we view as too low for the clear market leader in transportation as a service. "
Piper Jaffray said that many of the risks for the company appear to be "priced in."
"We remain cautious on the outlook for KHC and its ability to build or maintain brand equity in a way that can drive sustainable organic growth, especially given its $15B write-down on its key Kraft and Oscar Mayer brands. We believe a new CEO is the right move, but also believe he needs incremental brand spending to rejuvenate KHC's dusty brands, which could weigh on EPS by another $0.15-0.20 (not yet in our model). Divestitures are also likely dilutive, perhaps by $0.20-0.30. However, at 9x our 2020E EPS, risks appear to be reflected in valuation. We maintain our $31 target but raise our rating from UW to Neutral. "
Goldman said Canada Goose is now a "show me" story after the company's earnings report.
"GOOS reported F4Q results on 5/29 and the stock traded off 31% vs. S&P500 -1%. The key focal point for investors was Direct-to-Consumer sales growth, which slowed from the elevated growth rates experienced earlier in the year, and missed consensus estimates, driving the first consolidated revenue miss since GOOS went public. We think it is appropriate for a high multiple stock to experience significant de-rating in response to a sales miss. "
Deutsche Bank downgraded the retailer after the company's guidance reduction.
"We are downgrading shares of JILL to Hold from Buy (PT goes to $2) given product assortment issues that have led to conversion challenges, declining sales, and heavy inventory levels requiring significant markdowns. "
Bank of America downgraded the steel maker on a "souring" price outlook.
"We downgrade Nucor to Underperform from Buy as part of a sweeping review of U.S. steel names, now incorporating: 1) lower near-term prices especially for sheet and rebar; 2) new lower 2021E-2022E forecasts to incorporate our Steelmageddon™ looming glut theme; and 3) a DCF analysis that factors in this three-year cautious stance but an assumed recovery afterward. "