Wells Fargo is breaking out of its lending roots. The bank has quietly gone on a hiring spree to grab a bigger slice of the profitable investment banking business long dominated by its Wall Street rivals. Since the start of 2023, a CNBC analysis found that Wells Fargo made at least 17 senior-level hires in … Read more
Stop us if you’ve heard this one before: A high bar has been set for Nvidia ‘s upcoming earnings report. But just because it’s been the case for the past three quarters does not make it less true Wednesday night, when the leading artificial intelligence chipmaker releases fiscal first-quarter numbers. Most on Wall Street are … Read more
A new note from Melius Research supports what Jim Cramer has been saying for a while now: Club holding Apple’s integration of artificial intelligence into the iPhone should be a boon to investors. Shares of Apple are “gearing up for a run” higher in anticipation of the company’s Worldwide Developer Conference (WWDC) in June, where … Read more
The bulls got what they wanted this week: cooler inflation data and record highs. The Dow Jones Industrial Average on Friday closed above 40,000 for the first time, capping off a 1.24% advance for the week. The S & P 500 and Nasdaq Composite , meanwhile, closed at all-time highs Wednesday, fueled by cooler-than-expected inflation … Read more
Lower pricing due to softening demand helped April electric vehicle sales at Ford more than double, even as the automaker was shifting resources away from the money-losing unit. Despite the reasons behind the pricing, Freedom Capital Markets auto analyst Michael Ward said Ford’s nearly 130% jump in battery electric vehicle (BEV) sales last month should … Read more
The industrial-focused names in the Club’s portfolio wrapped up a pretty solid earnings season last week, but their stocks were largely not rewarded. Shares of toolmaker Stanley Black & Decker and industrial gas giant Linde tumbled on fiscal results Thursday, so the Club added to both positions on the overblown reactions. DuPont was the exception. … Read more
One big question has hung over the Vision Pro since Apple launched the powerful mixed-reality headset in February: Who can afford the $3,499 price tag? The tech giant on Thursday made its answer clear: businesses. More than half of the companies in the Fortune 100 have bought Vision Pros and “are exploring innovative ways to … Read more
A week ago, Nvidia suffered its third-worst session on record, plunging 10%, in a broader wreckage for artificial intelligence stocks. Those losses have now been completely erased and then some – and not because of anything the AI chip king has said or done. Nvidia’s gains of 4.35% and 3.65% on Monday and Tuesday, respectively, … Read more
Congress is inching closer toward a TikTok ban in the U.S. – offering another reason to stay invested in Club holding Meta Platforms after a year-and-half of strong stock gains. Meta’s Facebook and Instagram stand to gain if TikTok is cut off in the U.S. and users of the popular short-form video app are forced … Read more
Eli Lilly ‘s weight-loss drug Zepbound showed promise as a treatment for sleep apnea — giving investors more confidence to keep owning the world’s most valuable health-care company even after it’s been crushing the S & P 500’s performance over the past three years. The study results released by Eli Lilly on Wednesday highlight the … Read more
