Midday movers: Goldman Sachs and Meta Platforms rise; Apple and Tesla fall

Evercore ISI discusses: Can Apple keep winning in court?

Apple (NASDAQ: AAPL) has faced a lot of negative headlines related to antitrust actions over the past year in both the US and Europe. In March, the European Commission fined Apple over 1.8 billion for "abusing its dominant position on the market" for the distribution of music streaming apps to iOS users through its App Store.

Meanwhile, the US Justice Department said in March that it is suing Apple for "monopolizing smartphone markets."

Analysts at Evercore ISI said in a note Tuesday that they see three primary areas of risk.... More

2 factors that are preventing investors from buying Apple (AAPL) stock - analyst

Needham & Company analysts highlighted two reasons they believe investors are not buying shares of Apple (NASDAQ: AAPL).

The iPhone maker's stock has declined by more than 7% this year as the company has faced headwinds impacting its business. Slowing demand and competition concerns have helped weigh on the stock.

Based on their conversations, Needham pointed to... More

Goldman Sachs (GS) PT Raised to $405 at RBC Capital

RBC Capital analyst Gerard Cassidy raised the price target on Goldman Sachs (NYSE: GS) to $405.00 (from $390.00) while maintaining a Sector Perform rating.

The analyst comments "GS is a preeminent global investment bank with a leading position in the global markets, which... More

Charles Schwab Corp. (SCHW) PT Raised to $85 at Piper Sandler

Piper Sandler analyst Patrick Moley raised the price target on Charles Schwab Corp. (NYSE: SCHW) to $85.00 (from $78.00) while maintaining a Overweight rating.

The analyst comments "Net revenues of $4.74B were $45M (~1%) above our estimate (+$0.02 EPS) with NII, Asset Management, BDA fees & Trading... More

Evercore ISI on Apple (AAPL) Anti-Trust Headlines: 'We see three primary areas of risk'

Evercore ISI analyst Amit Daryanani reiterated an Outperform rating and $220.00 price target on Apple (NASDAQ: AAPL)

The analyst comments "Apple has faced a lot of negative headlines related to anti-trust actions over the past year. We see three primary areas of risk. 1) The DOJ filed a lawsuit against Apple in March that alleges anti-trust violations around their walled... More

BofA Securities Starts Reddit (RDDT) at Neutral

BofA Securities analyst Justin Post initiates coverage on Reddit (NYSE: RDDT) with a Neutral rating and a price target of $46.00.

The analyst comments "We are initiating Reddit with a Neutral rating and $46 Price Objective. We are constructive on the social media platforms big picture... More

Charles Schwab Corp. (SCHW) PT Raised to $70 at BofA Securities

BofA Securities analyst Craig Siegenthaler raised the price target on Charles Schwab Corp. (NYSE: SCHW) to $70.00 (from $68.00) while maintaining a Underperform rating.

The analyst comments "2024 has provided a strong macroeconomic backdrop for the brokers with rising equity markets, expectation of fewer Fed cuts and rebounding retail... More

Charles Schwab Corp. (SCHW) PT Raised to $76 at Goldman Sachs

Goldman Sachs analyst Alexander Blostein raised the price target on Charles Schwab Corp. (NYSE: SCHW) to $76.00 (from $72.00) while maintaining a Neutral rating.

The analyst comments "Following 1Q24 results, we raise our 2024/25/26 EPS estimates to $3.39/$4.23/$5.24 from $3.31/$4.13/$5.06 to reflect a higher forward curve and further moderation in deposit outflows, resulting... More

Piedmont Lithium (PLL) stock jumps after getting permit to start mine construction

Piedmont Lithium's (NASDAQ: PLL) share price rose more than 18% Monday after it announced a milestone in the development of its Carolina Lithium project.

The North Carolina Department of Environmental Qualitys Division of Energy, Mineral, and Land Resources (DEMLR) has granted approval for Piedmonts mining permit, paving the way for the proposed project's construction and operation.

The approval... More

Goldman Sachs (GS) PT Raised to $450 at CFRA, 'attractive constituent in the financial sector'

CFRA analyst Kenneth Leon raised the price target on Goldman Sachs (NYSE: GS) to $450.00 (from $420.00) while maintaining a Buy rating.

The analyst comments "We think GS is an attractive constituent in the financial sector given our view of a rebound in the capital... More

Tesla (TSLA) senior VP Drew Baglino to leave the company

Tesla (NASDAQ: TSLA) Senior Vice President Drew Baglino announced Monday that he has left the carmaker.

In a post on X (formerly Twitter), Baglino said he made "the difficult decision to move on from Tesla after 18 years yesterday."

Baglino... More

Citi on Goldman Sachs (GS): 'GBM Strength Drives Beat, AWM Though Is Key to Unlocking Sustainable Mid-Teens Returns'

Citi analyst Keith Horowitz reiterated a Neutral rating and $410.00 price target on Goldman Sachs (NYSE: GS)

The analyst comments "GS reported a very strong top-line beat driven by GBM with across-the-board strength. GBM posted an 18% ROE in the quarter, which we believe... More

Jefferies First Take on Goldman Sachs (GS): 'GB&M Revenue Strength Drives Beat'

Jefferies analyst Daniel Fannon reiterated a Buy rating and $471.00 price target on Goldman Sachs (NYSE: GS)/

The analyst comments "1Q24 EPS equaled $11.58 vs Cons of $8.49, reflecting strength across GB&M. Specifically, total revenues were +$1.3B vs Cons, as all banking segments were... More

Evercore ISI on Goldman Sachs (GS): 'Great Start To The Year, And It's Not All Cyclical'

Evercore ISI analyst Glenn Schorr reiterated an Outperform rating and $435.00 price target on Goldman Sachs (NYSE: GS).

The analyst comments "Straight up strong quarter led by better investment banking (added 26 cents to EPS), higher trading (added ~ $1), a lower provision (~+80 cents) and contained expenses despite the revenue upside (up just 3%). We dont want to get too excited about an active 1st quarter that might have pulled forward some activity, but it... More