My top 10 things to watch Monday, July 17
1. THE Dow opens relatively flat Monday after Friday ended a five-game winning streak and the best weekly performance since March. Modest losses on Friday for the S&P500 And Nasdaq broke winning streaks in four sessions. But they each peaked in April 2022 and posted solid weekly gains. In my Sunday columnsee how we don’t let the fake bear chatter deter us.
2. China’s Fake Stimulus Package: It continues to rely on the overblown housing sector, not consumer spending. No growth economy in the linked quarter and why are they publishing? Youth unemployment in China is a whopping 21%. Actual price?
3. Mizuho raises price target on club name Microsoft (MSFT) at $390 per share instead of $360. Maintains purchase rating. Generative AI excitement. This is all pretty much exaggerated and tracks the rise of the stock. Friday closes $345. Friday News: The resounding defeat of FTC Chairwoman Lina Khan in the Microsoft-Activision merger case will lead to a ton of mergers.
4. Morgan Stanley raises price target on club name Apple (AAPL) at $220 per share instead of $190. Maintains overweight (buy) rating. Analysts are “bullish on India as an emerging growth engine for Apple.”
5. Credit Suisse raises price target on Club participation Alphabet (GOOGL) at $150 per share instead of $135. Maintains outperformance (buy) rating. Rosy on growing search budget and increasing YouTube ad loads.
6. Citi raises price target on club name and power of AI Nvidia (NVDA) at $520 per share instead of $420. Maintains purchase rating. Analysts put their bullish case at $600. cites a favorable risk/reward ratio on the data center.
7. club name Palo Alto Networks (PANW) gets a price target increase to $290 per share from $250 at Oppenheimer. Maintains outperformance (buy) rating. Analysts were expecting a slight quarterly beat.
8. club outfit Wells Fargo (WFC), despite its solid quarter, sees a price target reduced to $51 per share $54 at BMO Capital. Maintains the performance rating (maintenance) of the market. Analysts say too early to buy. We do not agree. Meanwhile, our other financial stocks, Morgan Stanley (MS), reports its quarter on Tuesday.
9. In the coming week we also get the income from Club holdings Halliburton (HAL) on Wednesday (got cut on HAL last week) And Johnson & Johnson (JNJ) Thursday. Economic headlines: retail sales on Tuesday, housing starts released on Wednesday, followed by existing home sales on Thursday.
ten. With two weeks of the second half behind us, our the four best performers are Halliburton, Selling power (CRM), Meta Platforms and Nvidia. The four latecomers of the Club at the start of the third quarter are Foot locker (FL), Palo Alto Networks, Eli Lily (LLY) and Johnson & Johnson.
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