A dramatic sell-off has opened up attractive entry points for shares of PulteGroup , according to Wedbush. The investment firm upgraded shares of the home construction stock to outperform from neutral. Wedbush’s 12-month price target of $135 is around 25% higher than where shares closed Thursday. Since hitting an all-time high of $149.47 on Oct. 18, shares of Pulte have retreated by 27%. In contrast, the S & P 500 has gained 2% over that time. Analyst Jay McCanless said the stock’s sell-off “appears overdone.” “In addition to Pulte’s favorable customer mix, consistent buyback, and pristine balance sheet, we also…
Author: usaeverydaylife
My top 10 things to watch Friday, Jan. 3 1. China’s central bank is signaling that it will cut interest rates at some point this year, according to a report in The Financial Times . When will it matter to the economy? The People’s Bank of China also is planning a shift toward more orthodox monetary policy in 2025. I don’t think it matters. 2. Tesla’s shipments from its Shanghai factory declined 3% on annual basis in 2024, to 916,660. That’s the first year-over-year drop since full-scale production began there in 2020. Its annual global deliveries also fell . Meanwhile, Canaccord…
Flow regulator valves at a natural gas measuring station in Moldova.Bloomberg | Bloomberg | Getty ImagesMoldova’s breakaway region of Transnistria has been thrust into a profound energy crisis following the termination of a five-year gas transit agreement between Russia and Ukraine.Hundreds of thousands of people in the mainly Russian-speaking territory of Transnistria are left facing the remaining winter months without heating or power after Ukraine halted the flow of Russian gas to several European countries on New Year’s Day.The widely expected stoppage, which was confirmed by Russia’s state-owned energy giant Gazprom on Wednesday, marked an end to Moscow’s decades-long dominance…
JetBlue Airways aircraft are pictured at departure gates at John F. Kennedy International Airport in New York on June 15, 2013.Fred Prouser | ReutersThe Department of Transportation fined JetBlue Airways $2 million for “chronically delayed flights,” the first penalty of its kind, the DOT said Friday.JetBlue operated four routes that were delayed at least 145 times between June 2022 through November 2023, the DOT said. Those were between JetBlue’s home hub at John F. Kennedy International Airport and Raleigh-Durham International Airport in North Carolina; and between Fort Lauderdale, Florida, and Orlando, JFK and Windsor Locks, Conn. “Today’s action puts the entire…
A water tower at the U.S. Steel Corp. Edgar Thomson Works steel mill in Braddock, Pennsylvania, on Sept. 4, 2024.Justin Merriman | Bloomberg | Getty ImagesPresident Joe Biden on Friday officially blocked the takeover of U.S. Steel by Japan’s Nippon Steel, making good on his promise to keep an industrial name that is more than a century old under domestic ownership.Biden said the proposed $14.9 billion acquisition by Nippon would place one of the largest steel producers in the U.S. under foreign control, creating a risk for the nation’s critical supply chains. “Today’s action reflects my unflinching commitment to utilize…
Check out the companies making headlines before the bell. U.S. Steel — U.S. Steel shares slid nearly 8% after President Joe Biden blocked Japanese company Nippon Steel’s $14.9 billion takeover of U.S. Steel, saying : “U.S. Steel will remain a proud American company.” Biden said the domestic steel industry is a national security priority. Block — Shares of the fintech company moved nearly 3% higher after Raymond James upgraded the stock to outperform from market perform, saying Block is trading at an attractive valuation even after its recent run. According to the firm, Block’s seller gross payment volumes will be a catalyst…
Here are Friday’s biggest calls on Wall Street: Wolfe upgrades Chewy to outperform from peer perform Wolfe said it sees a slew of positive catalysts in 2025. “Amongst our eCommerce coverage we have upgraded CHWY from PP to OP with a PT of $42 as we expect CHWY will benefit from operational efficiency gains, Chewy Health, private labels, and ad revenue growth.” Wolfe upgrades Diamondback Energy to outperform peer perform Wolfe named the hydrocarbon company a top idea in 2025. “In summary, while Diamondback has the scale and recent track record of strong operating performance as the largest ‘pure play’…
Looking to level up your gaming experience? The right rewards credit card can help you score bonus cashback or points on your gaming purchases and potentially unlock perks like introductory interest-free financing and built-in extended warranty and purchase protection, which can be valuable when buying an expensive console or gaming PC.CNBC Select reviewed some of the best credit cards for gaming purchases and narrowed down our top recommendations based on benefits, rewards and fees. (See our methodology for more information on how we made this list.)Best credit cards for gamersBest for simple rewardsWells Fargo Active Cash® CardOn Wells Fargo’s secure…
An Apple flagship store in Shanghai, China, October 15, 2024.Cfoto | Future Publishing | Getty ImagesSales of foreign phone brands in China plunged in November, according to official data released Friday, underscoring further pressure on Apple, the biggest international handset vendor in the country.In November, foreign mobile phone shipments in China stood at 3.04 million units, according to CNBC calculations based on data from the China Academy of Information and Communications Technology (CAICT).That’s a fall of 47.4% from November 2023, and a 51% drop from October last year.CAICT does not break down figures for individual brands, however Apple accounts for the…
When around 100 criminal investigators and police officers entered a hilly compound in central Seoul on Friday morning, they tried to achieve something that has never been done before in South Korea: detain a sitting president.First, they made it through two blockades formed by parked vehicles and people. Then, when they came within 650 feet of the building where President Yoon Suk Yeol was believed to be holed up, they came face to face with an even more formidable barrier: 10 buses and cars along with 200 elite soldiers and bodyguards belonging to Mr. Yoon’s Presidential Security Service. Small scuffles…
