Institutional portfolios will continue to underperform due to a lack of adequate exposure to Nvidia and other winning technology names, UBS warned. Strategist Patrick Palfrey told clients that large-cap managers have 4.4% exposure to Nvidia, despite the artificial intelligence darling accounting for 6.6% of the S & P 500 . That is the biggest underweight position ever in Nvidia, according to Palfrey. Jensen Huang’s AI chipmaker is one of a handful of big tech names — including Microsoft , Amazon and Apple — that have smaller positions in these managers’ portfolios than they have in the S & P 500.…
Author: usaeverydaylife
Check out the companies making headlines in midday trading: Flutter Entertainment — The sports betting stock rose more than 6% after the FanDuel parent announced a share buyback program of up to $5 billion. The company also forecasts total revenue growth of about $21 billion in 2027. Hewlett Packard Enterprise — The tech stock jumped more than 5% after Barclays upgraded the firm to overweight from equal weight. The Wall Street firm said rising demand for artificial intelligence servers will give HPE a boost, while it is bullish on the accretion from the Juniper Networks deal. HPE agreed to buy…
October promises to be a busy news month for Tesla , and that makes the electric vehicle stock a strong candidate for an options trade, according to Goldman Sachs. Tesla is slated to report its third-quarter delivery numbers next week, followed by a long awaited robotaxi event on Oct. 10. John Marshall of Goldman’s derivatives research team said in a note to clients that both could be stock movers. “Goldman Sachs Automobiles analyst Mark Delaney expects the company’s technology and business outlook for Full Self Driving (FSD)/Robotaxis to be a prominent part of the event. On 2-Oct the company is…
A Rentokil employee preparing equipment. Newscast | Universal Images Group | Getty ImagesPest control maker Rentokil Initial said Wednesday that Trian partner Brian Baldwin would join the Terminix owner’s board effective next week.The company said Baldwin, who has worked at Nelson Peltz’s firm since 2007, will also join the nominating and compensation committees. The accession comes three months after Trian first disclosed a roughly $400 million position in Rentokil, and two weeks after the company issued a profit warning.Rentokil has struggled since it completed its nearly $7 billion acquisition of Terminix in 2022. Initially cheered by analysts, the company has had…
BOSTON — Missing out on the Finals MVP award and getting benched in the Olympics must have been challenging for Jayson Tatum to handle.Still, he said Tuesday morning, Boston Celtics coach Joe Mazzulla loved to see the All-NBA forward gifted potential sources of motivation.“Joe was probably the happiest person in the world that I didn’t win Finals MVP and that I didn’t play in two of the games in the Olympics,” Tatum said at the Celtics’ media day. “So, that was odd, but if you know Joe it makes sense.” Jayson Tatum: “I talked to Joe a lot. Joe was…
AT & T has emerged as a Wall Street favorite ahead of the upcoming earnings release cycle. Just two days after Goldman Sachs named AT & T its top telecom pick, JPMorgan reiterated it as one of its best ideas. JPMorgan analyst Sebastiano Petti called AT & T a broader “value pick” as it currently trades on a valuation discount relative to other names in the sector. Petti holds an overweight rating and $24 price target on shares, which implies upside of more than 11% from Tuesday’s close. AT & T’s ongoing fiber optic additions in its broadband businesses well-positions…
A logo for financial service company Merrill Lynch is seen in New York.Emmanuel Dunand | Afp | Getty ImagesThe Securities and Exchange Commission charged Harvest Volatility Management and Merrill Lynch on Wednesday for exceeding clients’ predesignated investment limits over a two-year period.Merrill, owned by Bank of America, and Harvest have agreed in separate settlements to pay a combined $9.3 million in penalties to resolve the claims.Harvest was the primary investment adviser and portfolio manager for the Collateral Yield Enhancement Strategy, which traded options in a volatility index aimed at incremental returns. Beginning in 2016, Harvest allowed a plethora of accounts…
No, it’s not really Apple or Microsoft popping up on your screen to tell you your computer has been infected.It’s scammers trying to convince you to call them and divulge sensitive information, which may include passwords, bank or credit account information or Social Security numbers.”They use the reputation of the brand [for legitimacy purposes] to make it seem more real,” said Cliff Steinhauer, director of information security and engagement at The National Cybersecurity Alliance. “Because, who doesn’t know Microsoft or Apple as a brand?”Consumers are likely to see more of these types of scams now, in the wake of Apple’s…
NEW YORK — Sabrina Ionescu’s final pass of the New York Liberty’s 91-82 Game 2 victory over the Atlanta Dream was to no one in particular. In fact, it was less of a chest pass, and more of a celebratory spike — an emphatic bounce of the basketball around midcourt after a 36-point, nine-assist masterclass that lifted the top-seeded Liberty into the WNBA semifinals. Ionescu opened Tuesday’s scoring with a 3-pointer on New York’s first possession and sealed the victory with the series’ final pair of free throws. She did plenty in between after saying the Liberty had no intentions of…
Analysts are warning that Coinbase could be entering a down trend after the stock scored a six-day-long advance. The crypto exchange operator finished almost 1% higher Tuesday at $171.68 per share and notched its longest string of gains since early March, around the time that bitcoin hit an all-time high. During the latest rally, Coinbase climbed 6.3% from Sept. 16 through Tuesday. In early trading Wednesday, Coinbase rose as much as 1.3%, paving the way for what may be its seventh straight gain. What’s worrying now for technical analysts who watch price charts, however, is that earlier this week Coinbase’s…
