Here are Wednesday’s biggest calls on Wall Street: Bank of America reiterates Nvidia as buy In a note to clients, the firm laid out several scenarios for Nvidia ahead of earnings on Wednesday after the bell. “Baseline view: FQ4 beat, inlinish FQ1 outlook on slower Blackwell ramp/looming China restrictions, stock recovers (modestly) as investors look ahead to GPU Tech Conference (GTC) on Mar-17.” Goldman Sachs reiterates Apple as buy The firm said it’s “encouraged” by lead times for Apple’s iPhone 16 E. “We’re encouraged by the role that iPhone 16e plays as an entry-level phone in the iPhone portfolio and…
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Check out the companies making headlines in premarket trading. Super Micro Computer — Shares soared 21% after the technology company met the Nasdaq’s listing deadline to report financial results for the most recent fiscal year to the Securities and Exchange Commission. The firm said it has “regained compliance” with the Nasdaq for its filling requirements. General Motors — Shares popped almost 4% after announcing an increase of its quarterly dividend by 25% to 15 cents per share. The automaker also initiated a $6 billion share repurchase plan, with $2 billion in buybacks slated for the second quarter. Anheuser-Busch InBev —…
Hamas has agreed to release the remains of four Israeli hostages in exchange for hundreds of Palestinian prisoners, Israeli officials and the group said, resolving a dayslong impasse between the two sides.The agreement comes as the first phase of a fragile cease-fire deal draws to a close. Negotiators have yet to reach terms to extend the deal into a more comprehensive truce, raising concerns that the fighting in Gaza could resume.During the first phase, Hamas had agreed to free 25 Israeli hostages and hand over the bodies of eight more in exchange for more than 1,500 Palestinians jailed by Israel.…
An improving industry environment could bolster shares of American Airlines , according to Redburn Atlantic. Analyst James Goodall upgraded the carrier to buy from neutral and upped his price target on the name to $24 from $18, which reflects 58.6% upside from Tuesday’s close. “The U.S. airline industry is entering a Goldilocks period,” the analyst said in a note to clients on Wednesday. “Substantial constraints on aircraft supply should result in capacity discipline being forced upon the industry in the medium to long term. Coupled with strong demand, particularly for international and premium, as well as growing high-margin revenue streams,…
FILE PHOTO: Republican presidential nominee and former U.S. President Donald Trump and Ukraine’s President Volodymyr Zelenskyy meet at Trump Tower in New York City, U.S., September 27, 2024. Shannon Stapleton | ReutersUkraine and the United States reached an agreement over access to Kyiv’s deposits of rare earth minerals, according to media reports, as Kyiv seeks to reinforce its ties with its key wartime transatlantic ally under the Trump administration.The draft deal envisages that the two countries will jointly develop Ukraine’s mineral resources, including oil and gas, and sees the U.S. drop demands for a right to $500 billion in potential revenue…
The home for sale at 377 Capron Ash Loop in Casselberry is pictured on Wednesday, Aug. 14, 2024. Stephen M. Dowell | Orlando Sentinel | Tribune News Service | Getty ImagesMortgage interest rates dropped again last week, hitting the lowest level in two months, but demand for mortgages didn’t respond. Total mortgage application volume dropped 1.2% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.88% from 6.93%, with points decreasing to 0.61 from 0.66 (including the origination fee) for…
A Lowe’s store stands in Brooklyn on February 27, 2024 in New York City. Spencer Platt | Getty ImagesLowe’s topped Wall Street’s quarterly earnings and revenue expectations on Wednesday and said its sales could see modest growth in the year ahead.The company said it expects full-year total sales sales to range from $83.5 billion to $84.5 billion, which on the upper end would be higher than its total revenue of $83.67 billion for fiscal 2024. It said it expects comparable sales to be flat to up 1% year over year and earnings per share to range from approximately $12.15 to $12.40.Here’s what the company reported for the…
Optimism around artificial intelligence could mean big gains in Alibaba shares, according to Bernstein. The firm upgraded the stock to outperform from market perform and hiked its price target by $61 to $165. That new target implies 23.1% upside potential as of Tuesday’s close. Shares of the Chinese e-commerce giant have soared more than 50% over the past month since Chinese startup Deepseek low-cost, open-source model rattled U.S. tech stocks in January by raising fears around competition and spending in the artificial intelligence space. On Wednesday, shares rose more than 4% in the premarket after the company announced that it’s…
Mary Barra, CEO, GM at the NYSE, November 17, 2022.Source: NYSEDETROIT – General Motors is raising its quarterly dividend and initiating a new $6 billion share repurchase program as the company attempts to reward investors amid slowing industry sales and profits.GM announced Wednesday it is increasing its quarterly dividend by 25% to 15 cents per share — matching that of crosstown rival Ford Motor. The higher dividend is expected to take effect with the company’s next planned payout, scheduled to be announced in April.Under the $6 billion repurchase plan, $2 billion in buybacks are expected to be completed during the…
Firefighters in Cape Town on Wednesday were battling a wildfire that broke out in Table Mountain National Park and spread overnight toward the city, local authorities said.The wildfire has burned for several days in the Newlands area, high in the mountainous slopes of the park, but strong gusting winds pushed it toward Cape Town’s central business district overnight, fire and park officials said.The size of the fire and the extent of any potential property damage was still being determined, said Edward Bosch, a spokesman for the Cape Town Fire and Rescue Service. But he described the blaze as “extensive.” He…
