Latest news with #CoinbaseStateofCryptoSummit
CNBC
a day ago
- Business
- CNBC
Here are Friday's biggest analyst calls: Nvidia, Apple, Tesla, Netflix, Adobe, Coinbase, Microsoft, Oracle & more
Here are the biggest calls on Wall Street on Friday: Oppenheimer reiterates Netflix as outperform Oppenheimer raised its price target and says it sees a "long subscriber runway" for Netflix . "Maintaining Outperform rating and increasing price target to $1,425 (was $1,200) based on 2030E." Goldman Sachs reiterates Adobe as buy Goldman says Adobe has "AI momentum" following earnings on Thursday. "We reiterate our Buy rating and $570 PT following Adobe's F2Q25 results." Morgan Stanley reiterates Tesla as overweight Morgan Stanley says Tesla remains extramely well positioned in "data, robotics, energy, AI, manufacturing and supporting infrastructure." "While there are a growing number of US efforts to push the boundaries of physical AI, we struggle to think of any other company as well positioned as Tesla in terms of data, robotics, energy, AI, manufacturing and supporting infrastructure (from fleet fulfillment to communications network, etc)." Wolfe downgrades GE Vernova to peer perform from outperform Wolfe downgraded the stock on valuation. "We are downgrading GEV from OP to PP rating." Oppenheimer reiterates Coinbase as outperform Oppenheimer said it's feeling even more bullish on the stock following the company's 2025 Coinbase State of Crypto Summit. "We believe COIN can command a valuation premium compared to HOOD, and will take advantage of current dislocation to get blockchain exposure." Bank of America reiterates Advanced Micro Devices as buy Bank of America says AMD is establishing itself as the "next-best AI vendor." "We attended AMD's Advancing AI Event in San Jose where AMD provided an update to its end-to-end AI infrastructure platform. Similar to last AI event in Oct-2024, investor expectations might have been high, but we highlight its continued execution in AI roadmap, customer/ecosystem proliferation, and software maturity." Bank of America upgrades Whirlpool to neutral from underperform Bank of America says the appliance maker is "relatively well positioned for appliance tariffs." "We upgrade Whirlpool to Neutral (from Underperform) and raise our PO to $94 (from $68) now based on 7.3x our 26E EV/EBITDA." Wells Fargo reiterates Microsoft as overweight Wells raised its price target on the stock to $565 per share from $515. "Recall MSFT disclosed $13B in AI revenue run-rate making it the clear outright leader in AI to date. MSFT benefits from having a vertically integrated approach towards AI, offering hardware (AI accelerators like Maia), infrastructure (Azure AI), and software (Copilots), where it can provide a full suite of AI services to customers." JPMorgan upgrades Newell Brands to overweight from neutral JPMorgan says it has renewed confidence in the consumer goods company. "We are upgrading Newell Brands (NWL) shares to Overweight rating from Neutral. We believe the combination of (1) increased speed of relevant innovation, (2) distribution gains in key retailers, (3) potential for market share improvement as most peers source from abroad, as NWL is tariff advantaged in more categories..." Read more . RBC initiates Air Products as outperform RBC says the turnaround is on for the industrial gas supplier. "We initiate coverage on Air Products at Outperform with a $355 PT, based on 27x our $13.15 FY26E EPS." Jefferies upgrades Darden to hold from underperform Jefferies says it sees Darden's "value appeal" restored. "We have become increasingly positive on DRI's ability to return its core Olive Garden brand to 'Every Day Affordable Price' (EDAP) leadership in casual dining and compete more effectively for traffic going forward." Wells Fargo upgrades ZScaler to overweight from equal weight Wells says it sees robust free cash flow for the cloud security company. "We believe Zscaler is well positioned to deliver $5B in ARR over the next ~2.5 years with a 25% OM [operating margin] and 29% FCF margin." Read more. Redburn Atlantic Equities downgrades United Rentals to neutral from buy The firm says it sees a more balanced risk/reward for the equipment rental company. "We downgrade United Rentals to Neutral as its consistent delivery has raised expectations and left the opportunity more balanced." UBS initiates Emcor as buy UBS says shares of the construction company have more room to run. "We initiate coverage of EME with a Buy rating and a $570 price target. We believe the visibility to continued strong earnings growth in 2026-27E is not sufficiently priced in." Raymond James initiates Constellation Energy as outperform Raymond James says the nuclear energy company is well positioned for growth. " Constellation Energy (CEG), the largest independent power producer, stands out as the nation's largest producer of clean energy, the largest nuclear fleet operator, and the largest commercialindustrial retail book holder, cementing an entrenched market leadership story." BMO upgrades Oracle to outperform from market perform BMO says it has "more confident in software and operating income." "Consistent with our preview, we have growing confidence that 1) Oracle can grow operating income dollars in FY26, and 2) P/E is a more appropriate valuation framework during accelerated cap ex spend periods." Read more. Wells Fargo upgrades Klaviyo to overweight from equal weight Wells Fargo says it's bullish on the marketing automation company's international opportunities. "We're upgrading KVYO to 'Overweight' (from Equal Weight) and raise our PT to $40 (from $32)." Citi downgrades Sherwin-Williams to neutral from buy Citi says it sees "challenging" homebuilder environment. "We downgrade SHW to Neutral on our more bearish outlook on housing, given our view of a delayed recovery stemming from the elevated rates, sluggish existing home sales, and a challenging homebuilder environment." Mizuho reiterates Nvidia as outperform Mizuho says the company is the leader in the AI race. CUDA is Nvidia's computing platform and programming model. "We continue to see NVDA leading the AI race with its fortress CUDA moat and strong hardware/networking performance for AI training and inference." Morgan Stanley reiterates Apple as overweight The investment bank says its Apple checks show iPhone and iPad estimates are tracking ahead. The firm also said the iPhone and iPad sell-thru in China are "positively surprising." "Furthermore, despite trending below normal seasonality, preliminary September qtr iPhone/iPad builds point to in-line to slightly better than expected September qtr iPhone/iPad shipments."
Yahoo
2 days ago
- Business
- Yahoo
'First crypto president' Trump claims credit for ending Operation Choke Point 2.0
'First crypto president' Trump claims credit for ending Operation Choke Point 2.0 originally appeared on TheStreet. President Donald Trump claimed credit for ending Operation Choke Point 2.0 while speaking to the Coinbase State of Crypto Summit on June 12. Trump said he ended the Biden administration's war on crypto, and his administration unleashed American innovators to do what they do best — lead the world into new frontiers. Operation Choke Point 2.0 is a popular term within the crypto industry that refers to what the industry leaders call a covert effort by U.S. regulators such as the Securities and Exchange Commission (SEC) to insulate crypto companies from the traditional banking system. The term draws upon the original Operation Choke Point, a 2013 Department of Justice initiative during the Obama presidency that pressured banks to stop servicing "high-risk" but legal industries like gun dealers and payday lenders. The president continued: Many have called me the first crypto president, that's an honor. I really do consider that a very big honor, actually. Trump also reminded his audience that he created the first presidential working group on digital assets and appointed "pro-freedom, pro-innovation" Paul Atkins as the SEC chair. It was under the term of Gary Gensler as the SEC chair that the agency adopted an aggressive campaign against the crypto industry for alleged securities violations. Trump also highlighted other achievements of his administration, such as the orders to create a strategic Bitcoin reserve and the digital assets stockpile, the progress on the GENIUS ACT that deals with stablecoin regulation, and the support for USD-pegged stablecoins. The president claimed that his administration will work toward creating clear and simple market frameworks so that the U.S. dominates the future of crypto and Bitcoin. Notably, the Trump family itself is involved with several crypto projects, such as meme coins, the USD1 stablecoin, World Liberty Financial, Bitcoin mining, and crypto exchange-traded funds (ETFs). 'First crypto president' Trump claims credit for ending Operation Choke Point 2.0 first appeared on TheStreet on Jun 12, 2025 This story was originally reported by TheStreet on Jun 12, 2025, where it first appeared. Sign in to access your portfolio
CNBC
2 days ago
- Business
- CNBC
Coinbase beefs up subscription plan by offering it with American Express credit card
Coinbase on Thursday introduced its first branded credit card in partnership with American Express. The card will be available exclusively to U.S. members of Coinbase One, the cryptocurrency platform's monthly subscription product that offers zero trading fees, increased staking rewards and other perks. Additionally, Coinbase is also creating a lower-cost "Basic" subscription tier. Cardholders will be able to earn between 2% and 4% back in bitcoin, beginning this fall, and take advantage of experiences, protections and other benefits that are offered alongside the American Express network. Coinbase One costs $29.99 a month while a Basic tier with fewer rewards will cost $4.99 a month or $49.99 a year. "We see real potential in the combination of Coinbase and crypto with the powerful backing of American Express, and what the card offers is an excellent mix of what customers are looking for right now," Will Stredwick of American Express global network services said at the Coinbase State of Crypto Summit in New York City. Coinbase's crypto exchange for retail and institutional investors is its core business, but the company has been building its subscription and services offering, comprised of stablecoins, staking, subscriptions like Coinbase One and custody, which supports the majority of bitcoin and ether ETFs. William Blair analyst Andrew Jeffrey said Wednesday that subscription revenue growth "will be the reason long-term investors own the stock." Trading revenue totaled $1.26 billion in the first quarter, while subscription and services revenue came in at $698.1 million for the quarter. Coinbase One launched in 2023 and has grown to more than one million members since. The company also operates a developer platform called Base and a self-custody wallet. The launch of the Coinbase One card comes as the crypto industry prepares for a boom in product launches and rollouts thanks to the pro-crypto policies of the Trump administration and more clearly defined crypto regulations expected from Congress in coming months. This is the first credit card launch for Coinbase, although it introduced a prepaid debit card in partnership with Visa in 2020. American Express has previously partnered with trading platform Abra on a crypto-back card that was due to hit the market in 2022 but never materialized. Other crypto-back cards have been discontinued or removed crypto as a redemption option. Of the remaining offerings, Gemini, the Winklevoss brothers' 11-year-old crypto trading platform that confidentually filed to go public last week, offers a crypto-back credit card, while PayPal-owned Venmo allows users to "earn" crypto from its credit card through an automated "Cash Back to Crypto" function.
