My top 10 things to watch Wednesday, Dec. 14, 2022 1. U.S. stock futures point to a relatively flat open, as Wall Street waits to see what the Federal Reserve does with interest rates Wednesday afternoon at the conclusion of its December meeting. The market expects a smaller 50-basis-point rate hike after four straight 75-basis-point increases. Tuesday’s cooler-than-expected consumer price index read gives investors hope that inflation has truly turned the corner. 2. Cryptocurrency exchange Binance has “stabilized” and deposits are “coming back in,” says CEO Changpeng Zhao. There have been lots of withdrawals across digital coin 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 Wednesday. 3. Delta (DAL) shares rise in the premarket after the airline boosted estimates on fourth-quarter and full-year earnings per share (EPS). Delta sees EPS of $1.35 to $1.40 versus $1 to $1.15 expected. The full-year 2022 EPS guidance: $3.07 to 3.12 versus $2.89 expected. By contrast, JetBlue (JBLU) says it expects fourth-quarter revenue-per-available-seat-mile at the low end of its prior guidance range. 4. Deutsche Bank raises its price target on Club holding Nvidia (NVDA) to $170 per share from $150; keeps hold rating. I, like everyone, am waiting for the video gaming chip inventory glut to clear. 5. Deutsche Bank initiates coverage of Club holding Danaher (DHR) with a buy rating and a $310-per-share price target. Analysts there initiated coverage on 9 other life sciences companies as well, including Thermo Fisher Scientific (TMO) with a buy and a $620 price target. 6. Argus Research and Deutsche Bank raise price targets on Corona beer maker Constellation Brands (STZ) to $295 per share from $270 and to $249 from $244, respectively. Argus keeps STZ as a buy. Deutsche Bank keeps a hold on STZ. 7. Goldman Sachs cuts its price target on Tesla (TSLA) to $235 per share from $305, but keeps a buy rating. Analysts there cut fiscal year 2023 earnings-per-share estimates. Meanwhile, there’s also a Wall Street Journal report about investors in TSLA voicing concerns about Elon Musk’s focus on Twitter. 8. Jefferies raises its price target on Netflix (NFLX) to $310 per share from $250; keeps hold rating. The analysts there cite as catalysts the streaming service’s password crackdown and new ad-tier. 9. Wells Fargo raises its price target on Goldman Sachs (GS) to $400 per share from $380; keeps an overweight (buy) rating. The analysts there cut fourth-quarter EPS estimates but left full-year 2023 and 2024 estimates alone. 10. In a note, Morgan Stanley says it’s not worried about competition for the Apple (AAPL) App Store. Meanwhile, UBS says wait times for new iPhones are improving. (Jim Cramer’s Charitable Trust is long NVDA, DHR, STZ and AAPL. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
1. U.S. stock futures point to a relatively flat open, as Wall Street waits to see what the Federal Reserve does with interest rates Wednesday afternoon at the conclusion of its December meeting. The market expects a smaller 50-basis-point rate hike after four straight 75-basis-point increases. Tuesday’s cooler-than-expected consumer price index read gives investors hope that inflation has truly turned the corner.
2. Cryptocurrency exchange Binance has “stabilized” and deposits are “coming back in,” says CEO Changpeng Zhao. There have been lots of withdrawals across digital coin 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 Wednesday.
3.Delta (DAL) shares rise in the premarket after the airline boosted estimates on fourth-quarter and full-year earnings per share (EPS). Delta sees EPS of $1.35 to $1.40 versus $1 to $1.15 expected. The full-year 2022 EPS guidance: $3.07 to 3.12 versus $2.89 expected. By contrast, JetBlue (JBLU) says it expects fourth-quarter revenue-per-available-seat-mile at the low end of its prior guidance range.
