Keefe, Bruyette & Woods downgraded Berkshire Hathaway to underperform, warning that Warren Buffett’s succession risk and a slew of business-specific headwinds could weigh on the conglomerate’s earnings and share performance over the next year. The brokerage slashed its rating to the equivalent of sell from neutral, and cut its price target for Berkshire’s Class A shares to $700,000 from $740,000, implying a 5% downside from Friday’s close of $738,500. “Beyond our ongoing concerns surrounding macro uncertainty and Berkshire’s historically unique succession risk … we think the shares will underperform as earnings challenges emerge and/or persist,” analysts led by Meyer Shields…
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Qualcomm announced Monday that it will release new artificial intelligence accelerator chips, marking new competition for Nvidia, which has so far dominated the market for AI semiconductors.The AI chips are a shift from Qualcomm, which has thus far focused on semiconductors for wireless connectivity and mobile devices, not massive data centers.Qualcomm said that both the AI200, which will go on sale in 2026, and the AI250, planned for 2027, can come in a system that fills up a full, liquid-cooled server rack.Qualcomm is matching Nvidia and AMD, which offer their graphics processing units, or GPUs, in full-rack systems that allow…
RBC Capital Markets sees a “catalyst-rich” path ahead for Honeywell International. The bank upgraded shares of the industrial conglomerate to an outperform rating from sector perform. Analyst Deane Dray also lifted his price target to $253 per share from $235, implying an upside of 17% from here. Shares of Honeywell have slipped 4% this year. HON YTD mountain HON YTD chart Dray’s upgrade comes after Honeywell reported quarterly results last week that exceeded analysts’ expectations. The company earned an adjusted $2.82 per share on revenue of $10.41 billion, while analysts polled by LSEG had expected earnings of $2.57 per share…
Wall Street is warning clients not to bet against the stock market, with both central bank and corporate catalysts ahead. The market roared to all-time records on Friday as the release of September consumer inflation data overshadowed concerns around both tariffs and sky-high valuations. Now, traders are looking to the two-day Federal Reserve meeting and five earnings reports due this week from Magnificent Seven companies to see if stocks can push still higher. “Over the last two weeks we had a more cautious stance on markets,” JPMorgan’s trading desk wrote to clients early Monday. “While we did see a [volatility]…
U.S. President Donald Trump looks on next to people waving Malaysian national flags before he departs on Air Force One from Kuala Lumpur International Airport in Sepang on Oct. 27, 2025.Andrew Caballero-Reynolds | AFP | Getty ImagesThis is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.Here are five key things investors need to know to start the trading day:1. Art of the dealPresident Donald Trump’s administration zeroed in on his tariff policies over the weekend. After pausing trade talks with Canada last week, Trump headed to Asia for a summit with world leaders and announced trade agreements…
U.S. Treasury Secretary Scott Bessent speaks to reporters at the White House in Washington, D.C., Oct. 22, 2025. Kevin Lamarque | ReutersTreasury Secretary Scott Bessent on Monday confirmed that the list of candidates to replace Federal Reserve Chair Jerome Powell has been winnowed down to five, with the winner likely to be named by the end of the year.Speaking to reporters on Air Force One, Bessent said the finalists are current Fed Governors Christopher Waller and Michelle Bowman, National Economic Council Director Kevin Hassett, former Governor Kevin Warsh and BlackRock executive Rick Rieder, according to several media outlets.Those names were…
Here are the biggest calls on Wall Street on Monday: Wells Fargo reiterates Bank of America as overweight The firm raised its price target on the stock. “We expect BAC to post a new 16%-18% ROTCE target at its Nov. 5 investor day on expectations that it can better monetize its unique franchise. Increase PT from $60 to $62 post 3Q25 earnings when we increased ests.” Bank of America upgrades Doximity to buy from neutral The firm says it’s bullish on the social platform for physicians. “We are upgrading shares of Doximity (the prominent online platform for physicians where top…
Check out the companies making the biggest moves in premarket trading: Rare earth stocks — Treasury Secretary Scott Bessent said Sunday he expects China to delay imposing strict rare earth export controls as part of a trade deal with the U.S., sending shares of rare-earth miners lower. United States Antimony tumbled nearly 15%, Critical Metals dropped 9% and USA Rare Earth fell 7%. MP Materials and Energy Fuels both shed about 4%. Avidity Biosciences — Avidity Biosciences soared nearly 44% after Novartis said it would buy the biopharmaceutical company for about $12 billion in cash. Novartis will pay Avidity shareholders…
U.S. President Donald Trump looks on next to Russian President Vladimir Putin during a press conference following their meeting to negotiate an end to the war in Ukraine, at Joint Base Elmendorf-Richardson, in Anchorage, Alaska, U.S., August 15, 2025. Kevin Lamarque | ReutersRussia’s testing of an “invincible” nuclear-powered cruise missile with a potentially “unlimited range” has been met with a less-than impressed response from U.S. President Donald Trump as a new cold front opens up between the countries.Russia announced Sunday that it had successfully tested a new nuclear-powered cruise missile, the 9M730 Burevestnik (or ‘Storm Petrel’), on Tuesday last week.It…
Tesla CEO Elon Musk attends the Saudi-U.S. Investment Forum, in Riyadh, Saudi Arabia, May 13, 2025. Hamad I Mohammed | ReutersTesla Board Chair Robyn Denholm, in a letter Monday, asked shareholders to vote for CEO Elon Musk’s nearly $1 trillion pay package ahead of the company’s annual meeting.Denholm said Musk was key to the future of the EV maker as it moves beyond being “just another car company,” with a bigger focus on Full Self Driving and Optimus.”Without Elon, Tesla could lose significant value, as our company may no longer be valued for what we aim to become,” Denholm wrote.Tune…
