Here are some of the tickers on my radar for Tuesday, Oct. 10, taken directly from my reporter's notebook:
- As PepsiCo (PEP) doesn't see the GLP-1 weight-loss drug impact that Walmart (WMT) warned about, there's a new survey that says coverage of these treatments (Novo Nordisk's (NVO) Wegovy and Ozempic as well as Eli Lilly's (LLY) Mounjaro) could nearly double next year to 43%. About 25% cover now. Lilly is a stock in the CNBC Investing Club portfolio.
- Market historian Ed Yardeni is raising his odds of a recession in 2024. He sees rolling recoveries. But base case rolling recession.
- Advanced Micro Devices (AMD) price target cut to $120 per share from $132 at Bank of America. Keeps neutral (hold) rating. The analysts see a "tricky set-up" for chip stocks. AMD is in the Club's Bullpen watch list for stocks that could become part of the portfolio. The chipmakers the Club does own are Nvidia (NVDA) and Broadcom (AVGO).
- Citi takes Skyworks (SWKS) to sell from neutral. Qorvo (QRVO) same. Makers of wireless chip solutions.
- Schwab (SCHW) price target lowered to $55 per share from $64 at Barclays.
- JMP Securities lowers Goldman Sachs (GS) to $440 per share from $450. Give me a break stock. The stock closed Monday at $312. Goldman reports its quarter next week. Club name Wells Fargo (WFC) kicks off earnings season Friday.
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- Harley-Davidson (HOG) price target cut to $32 per share from $35 at Citi. The long-awaited rebound being pushed out.
- Rivian Automotive (RIVN) upgraded to buy from hold at UBS.
- Realty Income (O) downgraded to hold from buy at Bank of America.
- Mizuho lowers Walgreens (WBA) to $25 per share from $31. Cites walkout of employees.
- JMP and Barclays lower Robinhood (HOOD) price targets. But big difference in where each sees HOOD. JMP goes to $24 per share from $25. Barclays goes to $10 from $11.
- Block (SQ) down 46% since July. I see it as an unjustified pullback.
- Unity Software CEO John Riccitiello out. Retiring. James Whitehurst, former Red Hat chief in at Unity (U). I love Whitehurst.
- Citi takes Corning (GLW) to hold from buy. Sees stretched-out recovery. Shares of the Gorilla Glass maker hits a 52-week low Tuesday.
Here's a full list of the stocks in Jim's Charitable Trust, the portfolio used by the CNBC Investing Club.