Dow Jones, Nasdaq, S&P 500 weekly preview: BTIG sees 'meaningful' downside risk for tech stocks

BMO Capital Positive on Palo Alto Networks (PANW), 'favorable risk/return on the shares'

BMO Capital analyst Keith Bachman reiterated an Outperform rating and $235.00 price target on Palo Alto Networks (NASDAQ: PANW).

The analyst comments "As we head into the Friday night earnings call, we offer some incremental thoughts, including our view of investor expectations. While... More

Rosenblatt on Palo Alto Networks (PANW): 'We expect a solid print'

Rosenblatt analyst Catherine Trebnick reiterated a Buy rating and $250.00 price target on Palo Alto Networks (NASDAQ: PANW)

The analyst comments "The company reports on Friday, August 18, after the market close. The company's stock price has fallen by 8% since the earnings announcement on... More

Here are Deutsche Bank's top picks heading into earnings

In a recent note to clients, analysts at Deutsche Bank highlighted two top second-quarter picks heading into their earnings releases.

The firm's analyst Krisztina Katai picked out beauty salon firm Ulta Beauty (NASDAQ: ULTA) and retail giant Walmart (NYSE: WMT), believing both will top consensus expectations. The firm sees WMT raising guidance, while ULTA is expected to reiterate its outlook when it reports earnings for its latest quarter.

The analyst maintained a Buy rating and $182 price target on Walmart, which is... More

Deutsche Bank Sees Palo Alto (PANW) Announcing No Longer Selling Hardward Friday, 'we believe more meaningful change may be afoot'

Deutsche Bank analyst Brad Zelnick reiterated a Buy rating and $225.00 price target on Palo Alto Networks (NASDAQ: PANW).

The analyst comments "Ahead of Friday's unusually timed investor event where the company will report F4Q results and lay out its medium-term plan, we contemplate what we think will ultimately be a positive catalyst. The knee-jerk reaction to announcing a summerFriday-post-close event was negative with the stock since underperforming the IGV by 8% and FTNT's disappointment on Aug 3 only exacerbated the situation. As the industry exits a pandemic-fueled... More

BTIG's Krinsky sees 'meaningful downside risk for tech'

BTIG analyst Jonathan Krinsky told investors in a note Monday that they see "meaningful downside risk for tech broadly over the coming weeks."

The analyst stated that while technology is up 35% this year, its medium-term momentum continues to roll over, with many key ETFs having broken significant volume-based... More

Goldman expects Fed to start rate cuts in Q2 next year; Funds rate seen stabilizing at 3%

According to Goldman Sachs, the Federal Open Market Committee (FOMC) could begin cutting the funds rate in the second quarter of 2024.

This projection is based on the expectations that the core Personal Consumption Expenditures (PCE) inflation will have dropped below 3% on a yearly basis and under 2.5% when looked on a monthly basis.

Even without a recession, the FOMC could be inspired to make the funds rate more aligned with a neutral level.

Normalization is not a particularly urgent motivation for cutting, and for that reason we also... More

Goldman Sachs says elevated oil prices could push S&P 500 higher

Goldman Sachs analysts led by David Kostin weighed in on the earnings season so far, highlighting that the S&P 500's earnings per share (EPS) for the second quarter experienced a 4% year-over-year (YoY) decline.

This decline is better than the initial expectations at the beginning of Q2 the earnings season,... More