Midday movers: Tesla, Apple, Domino's Pizza rise; Alphabet falls

Tesla FSD in China - What does it mean for Tesla and Baidu?

May 1, 2024 9:30 AM EDT

Reports emerged yesterday that Baidu (NASDAQ: BIDU) and Tesla (NASDAQ: TSLA) struck a deal granting Tesla access to Baidu's mapping license for data collection on Chinas roads. This move potentially paves the way for Tesla to offer Full Self-Driving (FSD) capabilities in China, prompting a notable surge in Tesla's stock by 15%.

Following the report, Bernstein analysts looked... More

AMD, Qualcomm and Apple unlikely to deliver 'clean beats' - Lynx Equity Strategies

April 30, 2024 1:04 PM EDT

As AMD (NASDAQ: AMD), Qualcomm (NASDAQ: QCOM), and Apple (NASDAQ: AAPL) prepare to disclose their earnings reports, analysts at Lynx Equity Strategies are cautious. With expectations tempered, the consensus points towards cautiously positive earnings announcements, albeit without the anticipated "clean... More

Huber Research Says Paramount Global (PARA) 'Appears Fully Valued', 'Remain Underweight'

April 30, 2024 10:37 AM EDT

Huber Research Says Paramount Global (NASDAQ: PARA) 'Appears Fully Valued'

"Stock Appears Fairly Valued at Our $12 Price Target, Remain Underweight"... More

Morgan Stanley Cautious on Paramount Global (PARA), 'Peak Uncertainty'

April 30, 2024 8:07 AM EDT

Morgan Stanley analyst Benjamin Swinburne reiterated an Underweight rating and $10.00 price target on Paramount Global (NASDAQ: PARA)

The analyst comments "A surprise CEO change comes as the company explores its strategic options, in particular continued reports of a potential Skydance merger.... More

Citi Cautious on Coinbase Global Inc. (COIN)

April 30, 2024 7:20 AM EDT

(Updated - April 30, 2024 9:38 AM EDT)

Citi analyst Peter Christiansen reiterated a Neutral rating and $151.00 price target on Coinbase Global Inc. (NASDAQ: COIN)

The analyst comments "Its challenging not to be positive on COIN... Aside from the sharp YTD rise in token... More

Domino's Pizza (DPZ) PT Raised to $600 at Argus

April 30, 2024 7:08 AM EDT

Argus analyst John Staszak raised the price target on Domino's Pizza (NYSE: DPZ) to $600.00 (from $580.00) while maintaining a Buy rating.

The analyst comments "We are maintaining our BUY rating on Focus List selection Domino's Pizza Inc. (NYSE:... More

Alphabet (GOOGL) PT Raised to $200 at Argus

April 30, 2024 7:08 AM EDT

Argus analyst Joseph Bonner raised the price target on Alphabet (NASDAQ: GOOGL) to $200.00 (from $170.00) while maintaining a Buy rating.

The analyst comments "We are maintaining our BUY rating on GOOGL and raising our target price to $200 from $170. Alphabet remains an advertising juggernaut despite... More

SoFi Technologies (SOFI) PT Lowered to $9 at BofA Securities

April 30, 2024 6:11 AM EDT

BofA Securities analyst Mihir Bhatia lowered the price target on SoFi Technologies (NASDAQ: SOFI) to $9.00 (from $9.50) while maintaining a Neutral rating.

The analyst comments "Neutral-rated SoFi Technologies (SOF) reported 1Q24 adj. revenue/EBITDA of $581M/$144M well above BofAe/consensus at $564M/$123M and... More

SoFi Technologies (SOFI) PT Lowered to $7.50 at UBS

April 30, 2024 6:02 AM EDT

UBS analyst Tim Chiodo lowered the price target on SoFi Technologies (NASDAQ: SOFI) to $7.50 (from $8.00) while maintaining a Neutral rating.

The analyst comments "SoFi reported adjusted net revenue of $581mm (~4% above Street) driven by beats in Lending and Other revenue, while Financial Services and Technology Platform missed. Adjusted EBITDA of $144mm came in better than... More

SoFi Technologies (SOFI) PT Lowered to $11 at Deutsche Bank

April 30, 2024 5:29 AM EDT

Deutsche Bank analyst Mark DeVries lowered the price target on SoFi Technologies (NASDAQ: SOFI) to $11.00 (from $12.00) while maintaining a Hold rating.

The analyst comments "We do view the shares as fundamentally undervalued, but given the volatility of the stock and how... More

Domino's Pizza (DPZ) PT Raised to $530 at Citi

April 30, 2024 5:16 AM EDT

Citi analyst Jon Tower raised the price target on Domino's Pizza (NYSE: DPZ) to $530.00 (from $505.00) while maintaining a Neutral rating.

The analyst comments "DPZ is delivering upon its plans by leaning aggressively into its core competency (deep everyday value) while exploiting product... More

Paramount Global (PARA) PT Lowered to $14 at Wells Fargo

April 30, 2024 5:14 AM EDT

Wells Fargo analyst Steven Cahall lowered the price target on Paramount Global (NASDAQ: PARA) to $14.00 (from $15.00) while maintaining a Equal Weight rating.

The analyst comments "PARA delivered the shortest quarterly earnings call in Media history: a brief nod to the strategy of... More

ON Semiconductor (ON) PT Lowered to $85 at JPMorgan

April 30, 2024 5:10 AM EDT

JPMorgan analyst Harlan Sur lowered the price target on ON Semiconductor (NASDAQ: ON) to $85.00 (from $90.00) while maintaining a Neutral rating.

The analyst comments "ON Semi reported 1Q results (revenues, margins, EPS) better than consensus on better industrial (stability in traditional industrial segments). For the 2Q outlook, the team guided revenues down 7% Q/Q, below consensus on broad-based end market weakness and soft China orders post CNY but in line with the guidance of its power semiconductor peer, STMicroelectronics. After the negative revenue reset, we believe Jun-Qtr represents the cycle bottom for... More

Domino's Pizza (DPZ) PT Raised to $575 at BMO Capital

April 30, 2024 5:04 AM EDT

BMO Capital analyst Andrew Strelzik raised the price target on Domino's Pizza (NYSE: DPZ) to $575.00 (from $535.00) while maintaining a Outperform rating.

The analyst comments "DPZ's 1Q24 EPS of $3.58 exceeded consensus of $3.41 driven by stronger comps, higher supply chain profits, and a lower tax rate.... More

ON Semiconductor (ON) PT Raised to $89 at Goldman Sachs

April 30, 2024 5:03 AM EDT

Goldman Sachs analyst Toshiya Hari raised the price target on ON Semiconductor (NASDAQ: ON) to $89.00 (from $81.00) while maintaining a Buy rating.

The analyst comments "onsemi reported modest upside to Street 1Q24 EPS expectations ($1.08 vs. $1.04) and provided what we believe was a better-than-feared 2Q24 non-GAAP... More

Domino's Pizza (DPZ) PT Raised to $512 at Jefferies

April 29, 2024 4:00 PM EDT

Jefferies analyst Alexander Slagle raised the price target on Domino's Pizza (NYSE: DPZ) to $512.00 (from $480.00) while maintaining a Hold rating.

The analyst comments "Dom SSS 5.6% beat 4.2% Cons on solid carryout and delivery momentum as tailwinds behind Uber & rewards sustained, with Op... More

Domino's Pizza (DPZ) PT Raised to $580 at BTIG, 'Top Pick'

April 29, 2024 3:06 PM EDT

BTIG analyst Peter Saleh raised the price target on Domino's Pizza (NYSE: DPZ) to $580.00 (from $515.00) while maintaining a Buy rating.

The analyst comments "Domino's posted its best same-store sales performance since the pandemic this morning, as it shrugged off pizza fatigue... More

Elon Musk 'is back' says Morgan Stanley after China visit

April 29, 2024 11:53 AM EDT

Elon Musk's recent visit to China sparked significant interest and optimism from analysts at Morgan Stanley, who declared "he's back" in a note to clients Monday.

While the trip was clearly aimed at securing approval for Tesla's (NASDAQ: TSLA) self-driving technology in China, the implications run deeper, said the bank.

Morgan Stanley's... More

RBC Capital Out Positive on Tesla (TSLA) Endorsement Re: FSD in China

April 29, 2024 11:00 AM EDT

RBC Capital analyst Tom Narayan reiterated an Outperform rating and $293.00 price target on Tesla (NASDAQ: TSLA)

The analyst comments "What do we think? Winning FSD in China would be significant. It would unlock a significant fleet of Tesla vehicles able to charge subscription fees. This is central to our investment thesis on... More

Paramount Global (PARA) consider removing CEO Bob Bakish as merger agreement talks heat up - reports

April 29, 2024 10:51 AM EDT

Paramount Global (NASDAQ: PARA) plans to replace CEO Bob Bakish with a committee of existing division heads in a move to accelerate the company's future, according to reports.

The company is said to be expected to announce Bakish's departure today before it reports earnings after the close.

The move... More

Apple iPhone 15 sell-through better than iPhone 14 - UBS

April 29, 2024 10:06 AM EDT

In a note to clients Monday covering tech giant Apple (NASDAQ: AAPL), analysts at UBS said the iPhone 15 sell-through is better than the iPhone 14 in the total mix, but there are fewer Pro and ProMax models.

The investment bank said its sell-through analysis that indicates moderating declines in key markets like China and solid growth in... More