My top 10 things to watch Tuesday, April 9
- Wall Street looks pretty non-committal for a second straight session as investors look ahead to this week’s two inflation reports: Wednesday’s consumer price index and Thursday’s producer price index.
- Club earnings this week: Constellation Brands, maker of Modelo and Corona beers, on Thursday, and Wells Fargo on Friday. Goldman Sachs is “incrementally more positive” on Constellation.
- Piper Sandler lowers Ulta Beauty price target to $595 per share from $665. The analysts say the sell-off is overdone and keeps buy rating. Club owns embattled Estee Lauder. On “Mad Money” tonight: Elf Beauty CEO Tarang Amin. Piper analysts raise Elf price target by $3 per share to $228.
- Gold makes new highs. Bank of America starts Freeport-McMoRan with a buy. Is it time to buy the gold miners?
- Wolfe Research likes U.S. Steel and upgrades it to a buy-equivalent rating but drops Cleveland-Cliffs to a sell.
- Barclays raises Netflix price target to $550 per share from $475.
- Goldman Sachs cuts Tesla price target to $175 per share from $190.
- JPMorgan discovers Broadcom won chip orders from fellow Club names Alphabet and Meta Platforms.
- Google Cloud CEO Thomas Kurian’s keynote at noon ET. Ahead of the address, Alphabet‘s Google announced custom Arm-based chips, following similar moves from fellow Club names Amazon and Microsoft.
- Bank of America says Club name Apple store is actually OK.
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