Latest news with #Truist
Yahoo
4 hours ago
- Business
- Yahoo
Jim Cramer and Wall Street Are Bullish on NVIDIA (NVDA)
We recently published a list of . In this article, we are going to take a look at where NVIDIA Corporation (NASDAQ:NVDA) stands against other stocks on Jim Cramer and Wall Street's radar. At the end of April, while discussing the best-performing stocks of the last 20 years, Cramer said that NVIDIA Corporation (NASDAQ:NVDA) went from graphics card maker to 'king of artificial intelligence.' 'Second place, okay, a name you know very well from the show, and that's NVIDIA. Do you know that NVIDIA's up more than 50,000% since the show began? NVIDIA? It piqued my interest over 15 years ago when it was originally just a maker of graphics cards for video games. Since then, we've had the privilege of watching NVIDIA blossom into the king of artificial intelligence and accelerated computing. You know, I named my late dog NVIDIA because I wanted you all to know about it… I say, you bet against NVIDIA at your own peril.' A close-up of a colorful high-end graphics card being plugged in to a gaming computer. NVIDIA Corporation (NASDAQ:NVDA) develops computing and graphics solutions used across gaming, AI, data centers, and automotive industries. The company offers products like GPUs, cloud services, and enterprise software. On May 29, Truist analyst William Stein increased NVIDIA's (NASDAQ:NVDA) price target to $210 from $205 and maintained a Buy rating following the company's strong first-quarter results. Stein said AI demand and solid execution are pushing growth despite export restrictions to China. Without those controls, first-quarter results and second-quarter guidance would have topped expectations by a wide margin. The firm sees continued growth in demand from cloud providers, businesses, and government buyers. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
2 days ago
- Business
- Yahoo
Airbnb shares dip as Truist cuts stock to Sell on weak summer trends, valuation
-- Shares in Airbnb Inc (NASDAQ:ABNB) fell roughly 2% at market open Friday after Truist Securities downgraded the stock to Sell from Hold due to soft summer leisure trends and concerns over valuation. The brokerage also cut its price target to $106 from $112, warning that both U.S. and European demand appear weaker than investors currently anticipate. 'We believe soft summer leisure trends, both for the U.S. and Europe (difficult y/y comp in Europe due to last summer's events) are not being fully anticipated by analysts and investors,' Truist analysts led by C. Patrick Scholes said in a note. They also flagged valuation as a headwind, noting they 'do not believe the premium valuation multiple vs. other not too dissimilar asset-lite hospitality companies such as Hilton (NYSE:HLT) is fully deserved.' Truist's downgrade is part of a broader recalibration of expectations across the lodging sector, as analysts lower their 2025 Revenue per Available Room (RevPAR) forecasts. The broker sees third-quarter RevPAR down 3% to 1% for U.S. mid and upper-end hotels, below consensus estimates of flat growth. Limited service hotels are expected to perform worse, with RevPAR seen falling between 4% and 2%. The analysts cite a combination of weaker consumer and business confidence, cuts in government travel, and reduced inbound international demand as key factors behind the softer booking trends. While the softness isn't considered severe, Truist said RevPAR is tracking roughly 150 basis points below current Street expectations for the third quarter. 'To be clear, the softness we observe is not anywhere near the demand collapse like what occurred during Covid nor is it GFC-esque but rather RevPAR growth for 3Q and into 4Q simply looks 'soft' to the tune of approx. 150 bps. below current Street expectations,' the analysts explained. Park Hotels & Resorts (NYSE:PK) was also downgraded to Hold from Buy, due to its high leisure exposure—especially in Hawaii—and elevated leverage. Truist said tourism expectations in Hawaii have deteriorated, with the University of Hawaii Economic Research Organization noting that weakness is 'primarily due to actual and threatened U.S. tariff hikes that are much larger than anticipated, as well as adverse effects on increased federal policy uncertainty around trade, immigration, spending and tax cuts.' Despite a stable trend in average daily rates (ADR), Truist warned that the industry's historical tendency to cut prices to stimulate demand during periods of weakness could return if softness continues. Related articles Airbnb shares dip as Truist cuts stock to Sell on weak summer trends, valuation AGCO downgraded as Citi says risk/reward now more balanced Sanofi, Regeneron shares nosedive after mixed Itepekimab results Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Airbnb downgrade, Ralph Lauren rated a Buy: Trending Tickers
Airbnb (ABNB) stock was downgraded to a Sell rating by Truist analysts, reducing their price target to $106 per share on softening demand forecasts for summer leisure travel. Deutsche Bank resume its coverage on Ralph Lauren (RL) with a Buy rating and price target of $343. To watch more expert insights and analysis on the latest market action, check out more Wealth here. Now time for some of today's trending tickers. We are watching Airbnb and Ralph Lauren. Joining me now, we've got my Morning Brief co-host, Madison Mills. Let's set the stage here for first stop, Airbnb cut to sell from hold at Truist. The firm sees soft summer leisure trends and is reducing its price target on the stock here. There you're taking a look at shares of Airbnb moving lower on this down by about a quarter of a percent right now, Maddie. Yeah, lowering that price target to 106 from 112. It's not too much downside. It's really more of a forward-looking call here, which is why we didn't initially see shares dropping as much as 3%. We're seeing a little bit of a recovery in the ticker at the current moment. But one of the things that they talk about is just that they don't see revenue gains going forward as quickly as some other folks on the street have anticipated here, and they're specifically talking about their lodging here not just being not being weak, but instead being softer than consensus. They talk about how they have a street low when it comes to their expectations for the third quarter in terms of rev par growth forecasts going forward here. And they look to be a miss versus current consensus expectations going forward, which is really interesting given the fact that we have seen Airbnb positioning itself as this company that's going to be able to withstand some of that macro uncertainty. You know, even as we start to think about how there are households that are continuously running the math on where they're pulling back on some of their travel spending or some of the longer-term stays and how Airbnb factors into that, it's it's also interesting Airbnb came out with some statistics, all these things considered around their role economically as well. Talking about in 2024 guest spending boosting the economy by $90 billion in 2024, also helping support and the influx of visitor spending in certain regions that they operate helping support more than 1 million estimated jobs nationwide last year, new record generating $52 billion in labor income. So looking at Airbnb and some of these other commodation plays as their role in the economic landscape, as well as economic indicators, also something interesting to track going forward from here too. Also, we've been tracking this one. Deutsche Bank resuming its coverage of retailer Ralph Lauren with a buy rating. The coverage was suspended back in January of 2024. The firm now sees opportunity for upside, however shares are lower just fractionally by about 1/10 of a percent right now. It's interesting. They talk about all of these different areas that they are looking at when they're sussing out the health of retailers. They talk about high quality, good underlying fundamentals, pricing power, white space opportunity, and limited China sourcing. They say few companies within their coverage fit that description, but they think RL quote checks all of the boxes, and they think the market is still under appreciating this particular stock, especially given the fact that the company has undergone some transformation when it comes to distribution sourcing and they think they also have margin expansion potential going forward as well, which will certainly be a lift to earnings from here. The price target that they set implies a 25% potential upside from current levels is certainly a bullish call here. Yeah, absolutely. They say RL is a market share gainer growth levels across geographies, channels, categories, more than offsetting some of the reduced wholesale doors ultimately positioning the brand closer to European luxury peers, they say within this rating here. Thanks for breaking these down with us. Of course. Thank you for having me. Maddie, appreciate it. You can scan the QR code below to track the best and worst performing stocks of this session with Yahoo Finances trending tickers page. Sign in to access your portfolio
Business Insider
3 days ago
- Business
- Business Insider
TAT Technologies 4.15M share secondary priced at $26.00
The deal priced below last closing price of $27.48. Stifel and Truist are acting as joint book running managers for the offering. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Forbes
4 days ago
- Business
- Forbes
Nvidia Stock Soars After Earnings—As Stocks Broadly Rally On Tariff Ruling
Artificial intelligence chip architect Nvidia again became the world's most valuable company after impressing investors in its latest quarterly earnings report, helping lift U.S. stocks also jolted by a court ruling challenging President Donald Trump's most wide-sweeping tariffs. Nvidia CEO Jensen Huang enjoyed a multibillion-dollar boost to his net worth Thursday. Nvidia stock jumped 5% to more than $141 per share Thursday, hitting its highest share price since Feb. 18 as Wall Street reacted favorably to its spring quarter results shared Wednesday afternoon. Nvidia's market capitalization surged by about $160 billion to nearly $3.5 trillion, vaulting the AI leader past Microsoft as the biggest company in the world. Despite the 'huge hurdle' of the Trump administration banning Nvidia from selling its H20 chips to China, the company delivered a 'great result,' explained Truist analysts led by William Stein in a note to clients. The post-earnings rally for Nvidia shares, combined with the Court of International Trade's late Wednesday ruling that Trump's most aggressive tariffs overstepped his legal authority, helped lift the broader stock market, which would benefit from lower tariffs as import fees weigh directly on bottom lines. The S&P 500 gained about 0.5% and the tech-heavy Nasdaq jumped almost 1%, hitting its highest level in more than three months. To put the $160 billion in value Nvidia added Thursday, the entire company was worth just $144 billion at the end of 2019. Nvidia said Wednesday it took a $4.5 billion charge last quarter and expects a further $8 billion loss this quarter due to the China restrictions. In the earnings call, Nvidia CEO Jensen Huang made clear he disagrees with the export controls to China. 'China's AI moves on with or without U.S. chips,' explained Huang, adding 'shielding Chinese chipmakers from US competition only strengthens them abroad and weakens America's position.' But Huang, who accompanied Trump this month on a trip to the United Arab Emirates, also expressed faith in Trump, who Huang said 'has a vision and I trust him.' 'The China headwind is unpleasant and frustrating,' wrote Bernstein analysts led by Stacy Rasgon. 'Amid a messy quarter, Nvidia is comporting [itself] extremely well. $6.2 billion. That's how much richer Huang got during Thursday's rally, making him the 10th-richest person in the world, according to Forbes' latest calculations.
