Fed guidance, BOE, Meta's results, Apple - what's moving markets

Apple (AAPL) PT Raised to $245 at Monness, Crespi, Hardt

Monness, Crespi, Hardt analyst Brian White raised the price target on Apple (NASDAQ: AAPL) to $245.00 (from $205.00) while maintaining a Buy rating.

The analyst comments "Apple, Inc. (AAPL Buy $218.36): Raising Estimates and Increasing Price Target to $245. Last night, Apple reported 3Q:FY24 upside and... More

Goldman on Rate Cuts: 'we now expect an initial string of consecutive 25bp rate cuts in September, November, and December'

Goldman on Rate Cuts: 'we now expect an initial string of consecutive 25bp rate cuts in September, November, and December'

The analyst comments "Nonfarm payrolls rose 114k in July, below consensus expectations. The industry composition was also soft, as the healthcare sector accounted for over half of the job gains in July and the payrolls diffusion index fell to its lowest level since May 2016. The household survey was also soft, with the... More

David Evanson on Fed Cuts Post NFP: 'a September 18th key interest rate cut is now 100% certain'

(Updated - August 2, 2024 10:54 AM EDT)

David Evanson on Fed Cuts Post NFP: 'a September 18th key interest rate cut is now 100% certain'

The analyst comments "The July payroll report was disastrous and the call for the Fed to cut key interest rates 0.5% is now rising. The Labor Department reported that only 114,000 payroll jobs were created in July, which was substantially below economists consensus estimate of 175,000. The unemployment rate rose to 4.3% in July, up from 4.1% in June. One reason that... More

ING on Fed Cuts Post NFP Report: 'we are going to see the market gunning for one of those being a 50bp now'

The analyst comments "The July US jobs report really makes the case for Federal Reserve interest rate cuts. Everything is weak. Non-farm payrolls growth of just 114k with 29k of downward revisions to the past two months (consensus was 175k). Private payrolls grew just 97k while wage growth comes... More

BofA Sees 25bps Cut to FFR in September

BofA Sees 25bps Cut to FFR in September

The analyst comments "A start in September appears locked in now. We think a softer-than-expected July employment report on the heels of other soft data like the ISM manufacturing report helps to lock-in a rate cut in September. Hence, we adjust our outlook for monetary policy in favor of more cuts. We now look for the Fed to cut its policy rate by 25bp at the... More

Jefferies Sees 25bps FFR Cut in September, 'we do not think that there's any evidence that a recession is imminent'

Jefferies Sees 25bps FFR Cut in September, 'we do not think that there's any evidence that a recession is imminent'

The analyst comments "Turning back to the Fed, we are adjusting our call to reflect a 25 bp cut in September and another one following in December. Past that, we... More

Intel (INTC) PT Lowered to $25 at Citi

Citi analyst Christopher Danely lowered the price target on Intel (NASDAQ: INTC) to $25.00 (from $35.00) while maintaining a Neutral rating.

The analyst comments "Yesterday after the close, Intel reported results and guidance well-below Consensus mainly due to weakness in its PC businesses (58% of 2Q24... More

Apple (AAPL) PT Raised to $261 at Rosenblatt, Maintains Buy, 'Decent Warm Up Before the Big AI Show'

Rosenblatt analyst Barton Crockett raised the price target on Apple (NASDAQ: AAPL) to $261.00 (from $260.00) while maintaining a Buy rating.

The analyst comments " iPhone -- The iPhone installed base was said to have grown to a new all-time high in total and in every geographic segment. iPhone was the top seller in the US, urban China, the... More

Intel (INTC) PT Lowered to $25 at Roth/MKM

Roth/MKM analyst Suji Desilva lowered the price target on Intel (NASDAQ: INTC) to $25.00 (from $35.00) while maintaining a Neutral rating.

The analyst comments "INTC guided 3Q24 revenue and gross margin well below consensus reflecting higher than expected client product costs. While... More

Susquehanna Reiterates Positive Rating on Amazon.com (AMZN)

Susquehanna analyst Shyam Patil reiterated a Positive rating and $220.00 price target on Amazon.com (NASDAQ: AMZN).

The analyst comments "2Q fine overall. Revenue of $148b grew 11% y/y ex-FX, decelerating two points vs. 1Q, and was 1% above our estimate but a touch below consensus. Online stores revenue grew 6% y/y ex-FX, 1% above our estimate but 1% below consensus. Paid units were up 11% y/... More

Intel (INTC) PT Lowered to $27 at Deutsche Bank

Deutsche Bank analyst Ross Seymore lowered the price target on Intel (NASDAQ: INTC) to $27.00 (from $38.00) while maintaining a Hold rating.

The analyst comments "Beyond delivering in-line 2Q revenue, the companys report was disappointing on nearly every other near-term financial metric with... More

Amazon.com (AMZN) PT Lowered to $224 at Stifel

Stifel analyst Mark Kelly lowered the price target on Amazon.com (NASDAQ: AMZN) to $224.00 (from $228.00) while maintaining a Buy rating.

The analyst comments "AMZN put up a mixed 2Q and guided 3Q below the Street. AWS accelerated +145bps q/q to +19% y/y, and... More

JPMorgan Reiterates Overweight Rating on Apple (AAPL)

JPMorgan analyst Samik Chatterjee reiterated an Overweight rating and $265.00 price target on Apple (NASDAQ: AAPL).

The analyst comments "As straight a beat as they come - with our broader coverage of Hardware companies reporting a diverse mix of results in an uneven macro, Apples results and execution in that backdrop stood out in its non-eventful nature as most product categories beat consensus expectation helping aggregate revenue do the same. In relation to our bullish view on the AI upgrade cycle, a non-eventful quarter with Apple beating estimates across the board... More

Amazon.com (AMZN) PT Lowered to $230 at JPMorgan

JPMorgan analyst Doug Anmuth lowered the price target on Amazon.com (NASDAQ: AMZN) to $230.00 (from $240.00) while maintaining a Overweight rating.

The analyst comments "Sometimes Retail leads AMZNs business and other times its AWS. On occasion both sides of the business are firing on all cylinders, like in 2018, driving substantial share appreciation. During 2023, Retail growth accelerated & Retail margins expanded sharply on network rationalization & regionalization, while AWS worked through challenging cloud optimizations. Now the N-T drivers shift to cloud as AWS delivered its second straight... More

Booking Holdings (BKNG) PT Lowered to $3,860 at JPMorgan

JPMorgan analyst Doug Anmuth lowered the price target on Booking Holdings (NASDAQ: BKNG) to $3,860.00 (from $4,025.00) while maintaining a Overweight rating.

The analyst comments "BKNGs 2Q results & the updated guide were mixed. Room nights grew 7% Y/Y in 2Q, ahead of the guide and in-line w/expectations, but growth is expected to further... More

Amazon.com (AMZN) PT Raised to $215 at Roth/MKM

Roth/MKM analyst Rohit Kulkarni raised the price target on Amazon.com (NASDAQ: AMZN) to $215.00 (from $210.00) while maintaining a Buy rating.

The analyst comments "AMZN reported inline-ish 2Q vs. Street, however, below elevated expectations. 3Q revenue guide feels soft while 3Q margins... More

Citi Reiterates Buy Rating on Amazon.com (AMZN)

Citi analyst Ronald Josey reiterated a Buy rating and $245.00 price target on Amazon.com (NASDAQ: AMZN).

The analyst comments "With AWS revenue growth accelerating, faster shipping times improving conversion rates (as essentials gain share), and overall cost-to-serve declines, we believe Amazon delivered... More

Booking Holdings (BKNG) PT Lowered to $4,200 at Evercore ISI

Evercore ISI analyst Mark Mahaney lowered the price target on Booking Holdings (NASDAQ: BKNG) to $4,200.00 (from $4,500.00) while maintaining a Outperform rating.

The analyst comments "Our View: We maintain our Outperform rating on BKNG in the wake of Mixed & Lower Q2 EPS... More

Moderna (MRNA) PT Lowered to $120 at Jefferies

Jefferies analyst Michael Yee lowered the price target on Moderna (NASDAQ: MRNA) to $120.00 (from $180.00) while maintaining a Buy rating.

The analyst comments "Despite confidence YTD, MRNA lowered 2024 guidance by $500M-$1B driven by lower Covid (pricing), APA deferrals + RSV will be small... More

Apple stock could drift lower on earnings as bullish estimates are dialled back

Apple (NASDAQ: AAPL) stock may drift lower following its June quarter earnings, as analysts at Lynx Equity Strategies caution against overly optimistic expectations.

The stock has surged 31% over the past three months, significantly outperforming the Qs at 12% and SPX at 10%, largely due to better-than-expected China sales and a clear AI strategy.

However, Lynx suggests that current high expectations for fiscal year 2025 are unrealistic.

"Since the... More

BofA Securities Reiterates Buy Rating on Meta Platforms Inc. (META), 'Top AI play in consumer Internet'

BofA Securities analyst Justin Post reiterated a Buy rating and $563.00 price target on Meta Platforms Inc. (NASDAQ: META).

The analyst comments "We see Meta as the top AI play in consumer Internet given: 1) Leading infrastructure and LLM capabilities w/ Llama 3.1, 2)... More

Microsoft target raised at HSBC on expected 2HFY25 revenue acceleration

HSBC has raised its price target for Microsoft (NASDAQ: MSFT) to $533 from $529 in a note Thursday, reflecting confidence in the company's projected revenue acceleration in the second half of FY2025.

The upward revision comes despite 1QFY25 guidance being "marginally below" expectations. HSBC maintains a Buy rating on the stock.

Microsoft's 4QFY24 results were in line with expectations, with revenue reaching $64.727 billion, up 15.2% year-over-year, slightly... More

Moderna stock plunges as guidance cut on low EU sales, U.S. vaccine competition

(Updated - August 1, 2024 9:51 AM EDT)

Moderna (NASDAQ: MRNA) reported its second-quarter earnings Thursday, revealing a revenue of $241 million, a significant beat compared to the analyst consensus estimate of $128.41 million.

However, the company's stock plummeted by as much as 18% in early Thursday trading due to a downward revision in its full-year revenue guidance.

The biotechnology firm posted an adjusted EPS of -$3.33, narrowly outperforming the analyst estimate of -$3.35. While revenue beat expectations, it marked a 30% decrease from the $344 million reported in the same quarter last... More

Meta Platforms Inc. (META) PT Raised to $615 at Oppenheimer

Oppenheimer analyst Jason Helfstein raised the price target on Meta Platforms Inc. (NASDAQ: META) to $615.00 (from $525.00) while maintaining a Outperform rating.

The analyst comments "Increasing target to $615 (was $525) or 24x '25E EPS a 13%/4% discount to peers/ NASDAQ. Stronger 2Q revenue and 3Q... More

Meta Platforms Inc. (META) PT Raised to $585 at Deutsche Bank

Deutsche Bank analyst Leo Horowitz raised the price target on Meta Platforms Inc. (NASDAQ: META) to $585.00 (from $525.00) while maintaining a Buy rating.

The analyst comments "Of course, AI will be leveraged to accelerate progress across many of these objectives, and therefore CapEx... More

Meta Platforms Inc. (META) PT Raised to $630 at Wolfe Research

Wolfe Research analyst Shweta Khajuria raised the price target on Meta Platforms Inc. (NASDAQ: META) to $630.00 (from $620.00) while maintaining a Outperform rating.

The analyst comments "We are incrementally positive post this print. Expectations into the print were lowered post Googles... More