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Jim Cramer's 10 Things to Watch in the Stock Market on Monday
Jamie Dimon, CEO of JPMorgan Chase, at the UK Global Investment Summit at Hampton Court Palace in London, UK on November 27, 2023.
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My top 10 things to see Monday July 15
1. Black rock BlackRock Corp. reported adjusted earnings per share of $10.36 for the second quarter, beating Wall Street's consensus estimate of $9.93. Shares of the world's largest asset manager were up 1.2% in premarket trading. BlackRock CEO Larry Fink joins us on CNBC at 9 a.m. ET.
2. JP Morgan The bank received multiple buy ratings from analysts (Morgan Stanley, Piper Sandler, Wells Fargo, Barclays) and raised its price target. The bank reported second-quarter earnings and revenue on Friday that beat Wall Street estimates, with investment banking fees up 52% from a year earlier.
3. AMDTD Cowen’s price target was raised to $210 from $200, noting that the setup for the second half of 2024 and 2025 is strong. The chipmaker is one of five stocks I would buy now, as I wrote in my column on Sunday. I also identified three problem stocks that could rally. We’re watching these names closely.
4. BNY Mellon Citi downgraded its rating from buy to hold. Analysts said the stock was fairly valued after its post-earnings rally. On Friday, the bank beat Wall Street expectations for second-quarter profit and reported a 7% increase in assets under management.
5. Piper Sandler raised its price target for Arista Networks to $345 from $302. Analysts have been revising their estimates and multiples upwards due to strong demand from AI data centers.
6. Netflix picks up several price target hikes: Morgan Stanley goes from $700 to $780, MoffettNathanson from $505 to $565, JPMorgan from $650 to $750.
7. Morgan Stanley raised its price target for General dynamics from $271 to $293. The companies said this favored the commercial aftermarket over original equipment manufacturers and defense.
8. City Piper Sandler and Morgan Stanley raise price targets.
9. Piper Sandler is downgrading a number of oilfield services stocks, citing “pretty bad” sentiment ahead of second-quarter earnings reports. Halliburtonwhich Piper lowered from $49 to $46.
ten. BP Morgan Stanley's rating was downgraded to “hold” from “buy” after a weak trading update that jeopardized 2025 forecasts.
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