Latest news with #JPMorgan
Yahoo
an hour ago
- Business
- Yahoo
Why Nike Stock Just Popped
Key Points JPMorgan analyst Matthew Boss just upgraded Nike stock to buy. Nike's capable of growing earnings 20% a year over the next five years, says this banker. That's nearly twice the rate of growth most analysts forecast for Nike. 10 stocks we like better than Nike › Nike (NYSE: NKE) ran up 3% through 10:05 a.m. ET Monday morning after JPMorgan analyst Matthew Boss upgraded the stock to overweight and raised his price target on the shoes and sportswear star to $93 a share. Why JPMorgan likes Nike Citing its own "fieldwork" on the stock, as well as conversations with management and SEC filings, Boss is raising his earnings forecasts for Nike in 2026 and 2027. He's predicting the company will grow earnings in the "high-teens to 20%" over the next five years, reports Management, says the analyst, is seeing "accelerating momentum within global wholesale orderbooks" and is aligning its inventory levels to support sales-growth trends. This should be completed by halfway through 2026. Boss also cited multiple trends that should result in stronger average selling prices in the running, global footwear, basketball, and training markets, leading to potentially a doubling of operating profit margins (to 10%) by 2028. Longer term, Boss sees a path to Nike regaining pre-pandemic profit margins of 12% and even 13%. Is Nike stock a buy? Nike's not a bad business. To the contrary, it's a steady performer, and most analysts predict Nike is capable of growing earnings at least 11% annually over the next five years. The problem is that, at its current valuation of 35 times earnings, 11% growth might not be enough to justify such a high valuation. JPMorgan's analyst holds out the hope, though, that Nike might grow nearly twice as fast as that -- 20%. Problem is, even 20% growth on a 35x-earnings stock works out to a price-to-earnings ratio of 1.75. That's still too high a price to pay for Nike. Even if this analyst is right about Nike's growth prospects, I think the stock is still a sell. Should you invest $1,000 in Nike right now? Before you buy stock in Nike, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nike wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 28, 2025 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nike. The Motley Fool has a disclosure policy. Why Nike Stock Just Popped was originally published by The Motley Fool 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
Phone Arena
an hour ago
- Business
- Phone Arena
JPMorgan sees foldable iPhone quickly taking control of the sector
Multinational financial services company JPMorgan believes that the iPhone Fold will be a success. An internal research note that the company sent to its clients was viewed by MacRumors. The note says that the iPhone Fold will be introduced in September 2026 during the event that unveils the iPhone 18 line. The investment house says that despite the debut of the first ultra-thin iPhone (dubbed the iPhone 17 Air), the upcoming iPhone 17 series will not excite the phone-buying public. As a result, consumers' attention will quickly turn to the 2026 iPhone line, which JPMorgan says will include the first foldable iPhone dubbed the iPhone Fold . The report to JPMorgan's clients says that the book-style foldable will be priced at $1,999 and sales will be in the teens of millions by 2027. The foldable iPhone isn't expected to really take off until 2028, according to JPMorgan's analysts. That's when 45 million iPhone Folds are expected to be sold. Considering that the Bill of Materials for the device is rumored to be $759, Apple could be in a good position to coin some nice profits if the foldable iPhone is a success. JPMorgan sees Apple releasing a $1,999 foldable iPhone in 2026. | Image credit-Unknown Apple's entry into the foldable market will give that niche segment of the smartphone industry a shot in the arm, as many expected. This year, 19.8 million foldables are expected to be sold globally. The introduction of the foldable iPhone will not only take foldable devices into the mainstream, but having a foldable iPhone in the marketplace will result in a huge jump in foldable units sold, and the amount of revenue generated by the sector should soar. Yes, the iPhone name still means a lot in the smartphone industry. But beyond that, Apple is looking to improve the appeal of foldable phones by removing some of the major issues that keep consumers away from buying such a device. The number one reason why consumers don't buy foldables is the pricing, and this is one issue that I don't think Apple is so quick to fix. The second problem is the tendency of foldable displays to have a crease show up on the internal display. This is a problem that foldable manufacturers have been struggling to eliminate for a long time. Apple reportedly will ship a foldable with a crease-free display, or at the least, a crease that will not be so easily noticeable. The inner screen is expected to weigh in at 7.8 inches and will feature a sturdy, long-lasting hinge using "Liquid Metal." The external display is expected to weigh in at 5.5 inches. The iPhone Fold will sport a thin chassis and a titanium frame. Touch ID is expected to make its long-awaited return, replacing Face ID on the foldable iPhone . Apple has studied the foldable market for a long time. This is how the company operates. The late Steve Jobs didn't wake up one morning with the iPhone, its specs, design, and features all done. It was a multi-year project that started in 2004, three years before that glorious day when Jobs held aloft the device that would change the world. With the foldable iPhone , Apple did the same thing. It studied the competition, examined their weaknesses, and figured out where Apple could do things better. The crease is supposedly an example of how this works. Earlier in the process, Apple was said to have held back on developing a foldable iPhone because it was concerned that such a device could not be durable. Then, while testing a prototype foldable iPhone in 2024, the device, using a display sourced from Samsung, fell apart. Obviously, Apple is well past this point. It reverse-engineered competitors' models and figured out how to make a better mousetrap. It's the Apple way. And if JPMorgan is correct, sooner than you'd expect, Apple will be the leader in foldables worldwide, which JPMorgan calls a $65 billion opportunity for the company. When you switch to Total Wireless, keep your number & grab 3 mo. of 5G We may earn a commission if you make a purchase Check Out The Offer
Times
2 hours ago
- Business
- Times
HSBC tells managing directors to return to office four days a week
HSBC has asked its managing directors to come into the office for at least four days a week from October. According to a memo, seen by Bloomberg News, the London-listed bank told its senior managers to 'set the tone from the top'. Approached on Tuesday, HSBC said that in-person interactions were 'essential to how we lead and deliver for our customers'. It is the latest example of a big UK company pushing for higher office attendance amid concerns over productivity since pandemic-era lockdowns caused a surge in remote working. The likes of JP Morgan, Tesco, John Lewis and Uber have all introduced policies to compel employees to show up more. HSBC's memo defines in-office work as work in the bank's offices or with customers, Bloomberg reported. It includes visiting stakeholders and attending conferences, offsite meetings or the equivalent. The bank has acted after shifts of policy at other lenders in the past six months. Jamie Dimon, chief executive of JP Morgan, enforced an end to remote work for the investment bank's employees from March, while Lloyds Banking Group, the owner of Halifax, has told senior staff that office attendance will be taken into account when divvying up bonuses. It was reported in May that HSBC had threatened to cut staff bonuses for those not in the office at least three days per week. • Working from home is here to stay — if workers get their way In January, the advertising agency WPP suffered a backlash after telling its 111,000-strong workforce to return to the office for at least four days a week from April. Staff working from home are being put under renewed pressure as the government pushes through changes to workers' rights under the Employment Rights Bill. The reforms include measures to enhance flexible working rights for employees by making it more difficult for employers to refuse requests. In the US, Jones Lang LaSalle, the real estate and investment group, found this month that more than half of the Fortune 100, the largest companies by earnings and revenue, had demanded workers come in to the office five days a week. HSBC is set to report its interim results on Wednesday. Analysts are forecasting first-half pre-tax profit to fall to about $16.5 billion, down from $21.6 billion a year ago.
Boston Globe
3 hours ago
- Business
- Boston Globe
Hundreds rally on Beacon Hill in renewed push for rent caps
Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up TRADE Advertisement Citing tariff turmoil, UPS declines to issue sales forecast United Parcel Service Inc. on Tuesday said economic volatility continues to roil its operations, underscoring the challenges for the courier's effort to reconfigure its network and revitalize its business. The company declined to provide a revenue or operating profit forecast for the full year as it reported earnings for the most recent quarter, citing broader macroeconomic uncertainty. Among the challenges UPS called out were US trade policies slashing shipping volumes from China — its most profitable trade route — and sluggish progress in reducing the size of its workforce. It's the second quarter this year in which UPS declined to provide investors an updated sales and profit forecast. Although many companies suspended guidance early this year due to volatility stemming from President Trump's trade policies, a number of those have since restored more recently. 'Sentiment was decidedly negative' prior to Tuesday's earnings report, wrote JPMorgan analyst Brian Ossenbeck. 'The results and lack of guidance will do little to change that at this point.' The Atlanta-based courier is struggling to recapture the volume it saw during the early years of the pandemic, when consumers turned to online shopping while stuck at home. The comedown, exacerbated for UPS by the threat of a union strike that sent some customers to rival firms, has proven stubborn thanks to weak demand across the economy. The company is also grappling with deep-rooted issues such as too much unprofitable volume and high costs. — BLOOMBERG NEWS. Advertisement MUNICIPAL FINANCE Corporate head tax is 'on the table' in Chicago as city faces steep deficits Chicago Mayor Brandon Johnson is considering reviving a tax on corporations to help raise revenue and balance the city's budget. A so-called corporate head tax is 'on the table' as officials look for funds to help close back-to-back yearly shortfalls topping $1 billion, Johnson said at a press conference on Tuesday. A head tax is typically levied per employee hired by a business, so larger corporations are more impacted than smaller companies. 'It's an option now,' Johnson said in response to reporters' questions about such a levy. 'Everything has to be on the table.' The Windy City used to charge a per-employee tax more than a decade ago, but it was heavily opposed by the business community. Former Mayor Rahm Emanuel eliminated the rate in 2014, dubbing it a 'job killer.' Chicago's corporations have complained about the rising costs to do business in the city and slower economic growth compared to other areas of the United States. Several marquee companies have relocated including the financial conglomerate Citadel, which moved to Miami, and Boeing Co. which left for Arlington, Va. Reviving the corporate head tax is among the options Johnson is considering as he crafts a spending plan for 2026. Like many municipalities, Chicago is contending with a depletion of federal pandemic-era aid coupled with higher costs of labor and services. A budget working group the mayor established is looking at new revenue options. Payment in lieu of taxes — known as a PILOT — for some institutions is also under review, Johnson said. The mayor campaigned on a progressive platform aimed at reducing the burden on the city's poor. — BLOOMBERG NEWS Advertisement PHARMACEUTICALS Ozempic maker lowers its sales target amid mounting competition Shares of Novo Nordisk, the Danish drugmaker behind the popular diabetes and weight-loss drugs Ozempic and Wegovy, plummeted more than 20 percent on Tuesday after it said sales this year would grow much less than previously expected. The drugmaker, which cited increased competition in the United States as a reason for its slower growth, said its sales would increase 8 percent to 14 percent this year, while operating profit growth is expected to be between 10 percent and 16 percent. At one point, the company had expected sales growth of 16 percent to 24 percent for 2025. The share price dropped to its lowest level in more than three years. The company also announced Tuesday its new chief executive, Maziar Mike Doustdar, who is the current executive vice president for international operations. He will take over Aug. 7. 'I don't like it,' Doustdar said of the company's share price drop on a call with reporters. 'I don't like it as an employee. I don't like it as a CEO-elect, and I certainly don't like it as a shareholder myself.' Novo Nordisk has experienced a sharp reversal in fortunes over the past year. It lost its title as Europe's most valuable company, first to luxury empire LVMH and then to SAP, a German software company. In May, the board pushed out the company's chief executive, Lars Fruergaard Jorgensen. On top of this, some disappointing clinical trial results and investors losing faith in the lofty expectations of the weight-loss drug industry have hit Novo Nordisk especially hard. — NEW YORK TIMES Advertisement ECONOMY Consumer confidence picks up in July US consumer confidence increased in July as concerns eased about the outlook for the broader economy and the labor market. The Conference Board's gauge of confidence rose 2 points to 97.2, data released Tuesday showed. The median estimate in a Bloomberg survey of economists called for a reading of 96. A measure of expectations for the next six months climbed this month to 74.4, the highest since February, while a gauge of present conditions fell to a three-month low. Consumer concerns about the broader US economy eased after President Trump signed his budget megabill bill into law early this month that made 2017 tax cuts permanent and incentivized business investment. Even with the advance, the gauge remains below pre-pandemic levels as higher import duties risk keeping inflation elevated while the job market cools. While some consumers were upbeat about the positive economic impact from the legislation, others expressed concerns, Stephanie Guichard, senior economist at the Conference Board, said in a statement. 'However, the bill and its implications were relatively low on the list of themes that consumers were focused on in July.' Meanwhile, the share saying jobs were hard to get increased to a four-year high of 18.9 percent. The share saying jobs were plentiful also rose but to a lesser extent. The difference between these two — a metric closely followed by economists to gauge the job market — was the smallest since March 2021.— BLOOMBERG NEWS Advertisement
Yahoo
3 hours ago
- Business
- Yahoo
Bitcoin Miner MARA Holdings Upgraded to Overweight at JPMorgan; IREN and Riot Cut to Neutral
Wall Street bank JPMorgan reshuffled ratings and price targets on a group of bitcoin miners to begin the week. Updating estimates for the group to reflect second-quarter earnings and changes to the network hashrate and the bitcoin price, the bank upgraded MARA Holdings (MARA) to overweight and lifted its price target to $22 from $19, suggesting about 30% upside from the Friday close just above $17. IREN (IREN) was downgraded to neutral from overweight, though the price target was lifted to $16 from $12. Riot Platforms (RIOT) was also cut to neutral from overweight, and its target increased to $15 from $14. Overweight rated CleanSpark (CLSK) is the bank's top pick, with a raised price target of $15 versus $14 previous, suggesting about 30% upside from the close just below $12 on Friday. Unrated Cipher Mining (CIFR) has a new price objective of $6. "In a shift, we favor the pure-play operators within our coverage universe, as they offer the best relative value, and are best positioned to benefit from a rising bitcoin price," analysts Reginald Smith and Charles Pearce wrote. Miner price targets have been increased to account for higher bitcoin prices and improving mining profitability, the authors continued. The world's largest cryptocurrency was trading around $118,700 at publication time.
