By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Banking > We’re not giving up on this struggling entertainment stock. Here are our reasons
Banking

We’re not giving up on this struggling entertainment stock. Here are our reasons

News Room
Last updated: 2023/07/07 at 11:59 AM
By News Room
Share
4 Min Read
SHARE

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. Labor market hints at cooling Disney’s turnaround Wells Fargo downgrade 1. Labor market hints at cooling U.S. stocks were mixed Thursday as markets digested the latest jobs data. The economy added 209,000 jobs in June, according to th e Bureau of Labor Statistics , below estimates of roughly 230,000. This reflects a slowdown from the month prior, a sign that a resilient labor market may be cooling. The underwhelming nonfarm payrolls number deviates from Thursday’s blowout ADP private-sector hiring report. Investors are weighing whether the Federal Reserve will hike interest rates later this month. The U.S. central bank had hiked rates at 10 consecutive meetings before pausing in June. There’s a 95% chance the Fed will deliver a July rate increase, according to the CME FedWatch tool . But the market odds of another hike before year-end went down a bit: still under 50%. 2. Disney’s turnaround Walt Disney Co. (DIS) has been a tough stock to hold for a while now. Shares are down more than 8% in the past 12 months compared to the S & P 500 ‘s 13% advance over the same stretch. Analysts at Wells Fargo cut the entertainment company’s earnings per share (EPS) estimates but maintained an optimistic target price of $147 per share and an overweight (buy) rating. Disney shares traded Friday around $89. “That just kind of shows you how bad things were at the company, how bad they were on the expense side, how troublesome the box office has been,” Club Portfolio Director Jeff Marks said Friday. “But we’re not giving up on Disney just yet.” 3. Wells Fargo downgrade Analysts at Wolf Research downgraded Wells Fargo (WFC) to peer perform from outperform (hold from buy), citing the bank’s risks from commercial real estate exposure, along with potential hits to net interest income (NII). This isn’t troubling to the Club as WFC just raised its dividend following the release of the Fed’s annual stress test results, reassuring shareholders, like us, that it’s well-capitalized. Morgan Stanley research analysts raised their WFC price target by $3 per share to $47. Wells Fargo reports second-quarter earnings before the bell next Friday. (Jim Cramer’s Charitable Trust is long WFC and DIS. 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.

Read the full article here

News Room July 7, 2023 July 7, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Jamie Dimon tells Europe: ‘You’re losing’

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

An Apollo-backed insurer is coming for the UK’s pensions

Apollo has used its in-house insurer Athene to remake US private capital,…

Trump’s ‘intelligent’ copper tariffs will ‘wake people up’, says mining billionaire

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Market volatility recedes as investors brush off Donald Trump’s tariff threats

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Delta offers rosier outlook as flight demand ‘stabilises’

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

- Advertisement -
Ad imageAd image

You Might Also Like

Banking

Swiss Banque Pictet Admits Conspiring With Americans To Hide Funds

By News Room
Banking

The Beginning Of The End Of Bank-Fintech ‘Partnerships’

By News Room
Banking

One Of America’s Longest-Serving CEOs Has Advice On Humor And Risk

By News Room
Banking

6 Resources Investors Can Be Thankful For This Holiday Season

By News Room
Banking

From Fintech’s Top Founders To Wall Street’s Best Dealmakers: 30 Under 30 Finance 2024

By News Room
Banking

One Part Tech, One Part Data, And Lots Of Human Curiosity

By News Room
Banking

The Evolution Of Bank-Fintech Partnerships

By News Room
Banking

Binance Dies, And Crypto Is Birthed

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?