My apical 10 things to ticker Friday, Feb. 10
1. The hangover from marketplace gains earlier this twelvemonth and a realization that question and leisure are the past remaining strengths of this system are hitting stocks. Bond yields are up aboriginal Friday, truthful the Dow Jones Industrial Average, the S&P 500 and the Nasdaq are acceptable to unfastened lower. The Dow is connected way for back-to-back play losses. The S&P 500 and Nasdaq are pacing to interruption multiweek winning streaks.
2. Expedia (EXPE): Weak quarter. Travel oregon weather, which 1 is the blame? Management says the second wounded fourth-quarter results. The institution says 2023 began with grounds app usage.
3. Lyft (LYFT) shares are losing a 3rd of their worth aboriginal Friday aft the thrust company's weak guardant guidance. Updated non-GAAP results calculation required by the SEC shows a Q4 adjusted EBITDA nonaccomplishment of $248.3 cardinal versus a $47.6 cardinal nonaccomplishment successful the year-ago quarter.
4. PayPal (PYPL) delivers a mixed 4th fourth and says CEO Dan Schulman volition retire. A hunt for his successor is underway. PayPal announced occupation cuts past week. Piper Sandler likes the borderline betterment astatine PayPal but shows nary existent enthusiasm. JPMorgan raises terms people to $103 per stock from $95.
5. Cloudflare (NET) beats with quarterly results. Some expert price-target increases but not capable since they're each astir wherever the unreality banal is already trading. Shares had a brutal 2022, and they've bounced astir 30% truthful acold this year.
6. Deutsche Bank (DB) lowered to underperform from neutral (sell from hold) astatine Bank of America. Wow, betwixt Credit Suisse (CS) and DB determination has to beryllium thing bully for JPMorgan (JPM).
7. Morgan Stanley downgrades Affirm (AFRM) to adjacent value from overweight (hold from buy); cuts terms people to $15 per stock from $46 successful a catch-up telephone connected the decimated bargain now, wage aboriginal company. Pricing missteps and user behaviour changes weighed connected quarterly results and guidance.
8. Stifel upgrades VF Corp (VFC) to bargain from hold. Is the stock's six-session losing streak arsenic of Thursday's adjacent buyable? I accidental WHY? Better-than-expected 4th earlier this week. But large dividend cut. Guidance scope narrowed by the institution down Vans, The North Face and Timberland brands.
9. RL (RL) gets terms people summation astatine $135 per stock from $115 astatine Credit Suisse. This, I like. Amazing 4th this week astatine the institution formerly named Ralph Lauren.
10. Bank of America lowers terms people connected Mattel (MAT) to $21 per stock from $26. Worried astir artifact weakness. Mattel's stock, portion small changed aboriginal Friday, sank much than 10% Thursday aft a unsmooth quarter.
(See here for a afloat database of the stocks successful Jim Cramer's Charitable Trust.)
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