Midday movers: RH, Estee Lauder rise; Tesla falls
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- S&P 500, Nasdaq close lower, dragged by Alphabet and megacap tech; focus on Iran
- Oil settles down more 3% after US-Iran talks signal easing supply risks
- Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
- Alan Greenspan, influential former Federal Reserve chair, dies at 100
- Buy gold stocks as valuations are cheap amid macro tension: BofA
- CoreWeave trains DeepSeek-V3 in two minutes in MLPerf benchmark
- Needham Starts NeoVolta (NEOV) at Buy
- Spain's ex-transport minister sentenced to 24 years for corruption
- Li Auto Inc. (LI) Breaks Ground on Chips R&D and Production Base
- Exclusive-China robot-hand-building unicorn Linkerbot targets $6 billion valuation
Amazon (AMZN) added to Wells Fargo Q2 Tactical Ideas List
April 1, 2024 8:58 AM EDTWells Fargo added Amazon (NASDAQ: AMZN) to its second quarter 2024 Tactical Ideas List in a note Monday previewing the company's first-quarter results. The firm maintained an Overweight rating on the stock, raising the price target to $217 from $211.
The firm sees a... More
Amazon.com (AMZN) PT Raised to $217 at Wells Fargo, 'Adding to the Q2'24 Tactical Ideas List'
April 1, 2024 5:46 AM EDTWells Fargo analyst Ken Gawrelski raised the price target on Amazon.com (NASDAQ: AMZN) to $217.00 (from $211.00) while maintaining a Overweight rating.
The analyst comments "Maintain 1Q24 OI of $12.4B vs. Street $11.0B, raise 2Q OI to $14.5B (vs. Street $12.6B) and expect 2Q guide of $10.0-14.0B. Believe restructured FBA fees and cost externalization driven by FBA inventory placement fees will drive $1.2B of incremental OI vs. 1Q24. In addition to the FBA fee change, we expect... More
Wells Fargo on Tesla (TSLA), 'Adding TSLA to Q2 ’24 Tactical Ideas List'
April 1, 2024 5:43 AM EDTWells Fargo analyst Colin Langan reiterated an Underweight rating and $125.00 price target on Tesla (NASDAQ: TSLA).
The analyst comments "We have an Underweight rating on TSLA. We see moderating delivery growth driven by lower demand & diminished return on price cuts. We estimate auto gross margin ex credits fall by ~130bps y/y given... More
