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My top 10 things to watch Monday, April 28
1. Wall Street was looking at a muted open today after last week’s bounce. Big Club earnings week: Meta Platforms, Amazon, Microsoft, and Apple. Who can mitigate the tariffs best? In the week ahead, we also have major jobs and inflation data.
2. Treasury Secretary Scott Bessent told CNBC today it’s up to China to de-escalate trade tensions, adding that many countries have put forth “very good proposals” on trade. He said a deal with India, where Apple has been scrambling to move its iPhone manufacturing to, could be announced soon.
3. Why did Alphabet‘s stock ultimately sell off Friday? We learned in earnings last week that it saw the lowest growth ever for paid clicks. In my Sunday column, I looked at the secret sauce to picking stocks and why I sold the Google parent.
4. JPMorgan likes the setup for Eli Lilly ahead of Thursday’s earnings. The analysts cited success for Lilly’s daily obesity pill, orforglipron, in a late-stage trial for Type 2 diabetes and strong volumes for injectable obesity drug Zepbound. JPMorgan kept its overweight buy rating on the Club stock.
5. JPMorgan retail analyst Matt Boss said the consumer is resilient — and among other names, he likes Club name and Marshalls parent TJX Companies, as well as Ralph Lauren, Gap, Urban Outfitters, and Levi Strauss.
6. Barclays, however, cut Ralph Lauren‘s price target, expressing near-term concern about specialty retail due to rising costs squeezing margins. The analysts did keep their overweight buy rating.
7. Barclays started Kohl’s as an underweight sell. Tariff increases are going to make it even tougher for this company. Barclays started Macy’s with an equal weight hold. The analysts like the strategy at Macy’s, but they’re clearly worried about the department stores.
8. Citi upgraded sneaker maker On Holding to a buy. While currency headwinds and the tariffs will hurt it, the analysts think the fast-growing Swiss company is well-suited to navigate economic uncertainty. It’s an important call because most people do not think shares of foreign companies can be bought due to tariffs and currency impact.
9. Bernstein upgraded Boeing to an outperform buy and raised its price target to $218 per share from $181. The analysts think the U.S. aircraft manufacturer is making progress in fixing the place.
10. Bank of America raised its price target on Take-Two Interactive to $250 per share from $210 and kept its buy rating on the stock. This is the pipeline of greatness all from GTA (Grand Theft Auto), which is going to have a new edition. The stock has now run $50 in advance of the release.
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