Top 10 Things to Watch on Wednesday, December 14, 2022 1. US stock futures point to a relatively flat open, as Wall Street waits to see what the Federal Reserve does on interest rates on Wednesday afternoon at the conclusion of its December meeting. The market expects an interest rate hike of 50 basis points after four consecutive increases of 75 basis points. A cooler-than-expected CPI reading on Tuesday gives investors hope that inflation has really turned the corner. 2. Cryptocurrency exchange Binance “has stabilized” and “deposits are returning,” says CEO Changpeng Zhao. There has been a lot of cryptocurrency withdrawals in the industry after the collapse of the FTX exchange and the arrest of its founder, Sam Bankman-Fried, on fraud charges. One day after the House Financial Services Committee’s crypto hearing, it’s the Senate Banking Committee’s turn on Wednesday. 3. Delta (DAL) shares rise in the premarket after the company raised its estimates for fourth quarter and full year earnings per share (EPS). You see an EPS delta of $1.35 to $1.40 versus the $1 to $1.15 expected. Full-year 2022 EPS guidance: $3.07 to $3.12 vs. $2.89 expected. By contrast, JetBlue (JBLU) says it expects fourth-quarter revenue per available seat mile at the lower end of its previous guidance range. 4. Deutsche Bank raised its price target on Club holding Nvidia (NVDA) to $170 per share from $150. Rating maintains. I, like everyone else, are waiting to clear stock of video game chips. 5. Deutsche Bank has initiated coverage of the Danaher Club (DHR) contract with a buy rating and price target of $310 per share. The analysts began covering 9 other life sciences companies as well, including Thermo Fisher Scientific (TMO) with a buy and price target of $620. 6. Argus Research and Deutsche Bank raised price targets on Corona brewer Constellation Brands (STZ) to $295 per share from $270 to $249 from $244, respectively. Argus keeps STZ as a buyout. Deutsche Bank holds the hold on STZ. 7. Goldman Sachs cut its price target on Tesla (TSLA) to $235 per share from $305, but maintains a Buy rating. Analysts cut earnings per share estimates for fiscal year 2023. Meanwhile, there’s also a Wall Street Journal report about TSLA investors expressing concerns about Elon Musk’s focus on Twitter. 8. Jefferies raises its price target on Netflix (NFLX) to $310 per share from $250; Rating maintains. Analysts there cite the streaming service’s password crackdown and a new ad layer as catalysts. 9. Wells Fargo raises its price target on Goldman Sachs (GS) to $400 per share from $380; Maintains an Overweight (Buy) rating. Analysts cut earnings per share estimates for the fourth quarter but left estimates for 2023 and 2024 alone. 10. On a note, Morgan Stanley said it’s not worried about competition for Apple’s App Store (AAPL). Meanwhile, UBS says wait times for new iPhones are improving. (Jim Cramer’s Charitable Trust is long from NVDA, DHR, STZ, and AAPL. See here for a full list of stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you’ll get a trade alert before Jim places a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a share in his charity fund portfolio. If Jim talks about a stock on CNBC, he waits 72 hours after the trade alert is issued before executing the trade. The above investment club information is subject to our terms and conditions and privacy policy, along with our disclaimer. No fiduciary obligation or duty will be created, or created, by virtue of your receipt of any information provided in connection with Investment Club. There are no specific results or guaranteed profit.
Top 10 things to watch Wednesday, December 14, 2022
1. US stock futures point to a relatively flat open, as Wall Street waits to see what the Federal Reserve will do with interest rates Wednesday afternoon at the conclusion of its December meeting. The market expects an interest rate hike of 50 basis points after four consecutive increases of 75 basis points. A cooler-than-expected CPI reading on Tuesday gives investors hope that inflation has really turned the corner.
2. Cryptocurrency exchange Binance has “settled down” and “deposits are returning,” CEO Changpeng Zhao says. There has been a lot of cryptocurrency withdrawals in the industry after the collapse of the FTX exchange and the arrest of its founder, Sam Bankman-Fried, on fraud charges. One day after the House Financial Services Committee’s crypto hearing, it’s the Senate Banking Committee’s turn on Wednesday.
3.Delta Shares of (DAL) rose in the pre-market after the airline boosted its fourth-quarter and full-year earnings per share (EPS) estimates. You see an EPS delta of $1.35 to $1.40 versus the $1 to $1.15 expected. Full-year 2022 EPS guidance: $3.07 to $3.12 vs. $2.89 expected. by contrast, Jet Blue (JBLU) says it expects fourth-quarter revenue per available seat mile at the lower end of its previous guidance range.