After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
The sexy image that once boosted Victoria's Secret has been haunting L Brands more recently, as women are steering clear of the brand's hot pink, lacy and bejeweled lingerie.Retailread more
See which stocks are posting big moves after the bell.Market Insiderread more
"I'd love to say that the optimistic universe is most likely to prevail, but the talking heads talk endlessly about how a recession is inevitable," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Read the fine print in your Apple Card contract — one clause means you give up your right to be heard in court.Technologyread more
Federal Reserve members worried over future growth are highly concerned about the U.S.-China tariff battleThe Fedread more
President Donald Trump signed a memorandum on Wednesday to automatically cancel the student loan debt of disabled veterans. More than 25,000 service members will have their...Personal Financeread more
Jim Nussle, a former director of the Office of Management and Budget, told CNBC on Wednesday that a strong U.S. consumer is the only thing keeping the country from recession.Marketsread more
Here are the biggest calls on Wall Street on Tuesday:
Goldman said FCA has a limited opportunity for North American earnings growth and that other segments of the company's business face challenges.
"We initiate with a Sell and price target of €11.5 (ADR US$13.5), giving 7% downside. We see limited scope for further earnings growth from North America, while other segments of the business face challenges. We do not believe consensus fully reflects this: our 2019E EBIT/EPS are 8%/5% below."
Evercore downgraded the insurer and said it sees "potential pressure" from free cash flow in 2020 amongst other things.
"While MET produced a strong underwriting quarter in 1Q19 and the stock has responded favorably, and now trades at a premium to most peers on a price to free cash flow basis, we see the accumulation of a broad list of moderate risk factors as reasons for why the stock is unlikely to materially outperform peers over the next 12 to 18 months, including: 1) Potential 3Q balance sheet review charges, 2) LTC risk, 3) Potential pressure on FCF in 2020, 4) Potential weakness in Japan FX sales, 5) Potential goodwill impairment, and 6) Above average NII vs fee income. "
Evercore said that Aflac will see "modest downward pressure" from challenges in Japan amongst other things.
"We think there will be modest downward pressure on current consensus EPS estimates driven by challenges in Japan including both subdued sales and revenues, as well as negative interest rate impacts as interest rates are likely to remain lower for longer there and are currently negative/declining and the potential impact on its US floating rate portfolio relative to its planned assumptions from the dovish shift on monetary policy from the Fed."
KeyBanc said Slack's service has redefined digital workplace communications and that its revenue could grow beyond $3 billion in 5 years and $10 billion within 10 years.
"By pioneering a new product category to challenge e-mail as the primary method for digital communications, Slack channels have redefined digital work, quickly expanding to 95K paid customers and a revenue run-rate of $539M in a short span of five years. We are initiating coverage of WORK at Overweight based on the potential to become an automation platform for the middle-office where revenue could eclipse $3B within five years and $10B within ten years. "
UBS raised its price target but said 2020 remains a "transition" year for Micron.
"We get the near-term stock reaction to geopolitical (Japan/Korea) and competitor production issues, but given the historically strong correlation between the stock and gross margins, it is just hard to believe the stock is off to the races unless margins are snapping higher."