After Friday’s selloff, the market is attempting to bounce back, with hopes that the conflict in the Middle East will not escalate further following Iran’s attacks on Israel. On the other hand, oil prices are retreating, as there are expectations that the situation in the Middle East will not worsen.
Despite a slight increase in consumer inflation last month, retail sales saw a significant jump of 0.7% in March, surpassing expectations. Furthermore, the February data was revised upward, indicating a stronger retail sector than previously believed.
Goldman Sachs reported an exceptional performance in the first quarter, with a revenue increase of 16% to $14.21 billion, surpassing estimates by over $1 billion. The earnings per share (EPS) of $11.58 also exceeded expectations of $8.56, reflecting strong results across fixed income, currency, commodities, and investment banking sectors.
Citi has placed Nvidia on a 90-day watchlist, anticipating positive supply chain updates during earnings season and the Computex Taiwan conference in June. Lockheed Martin received a buy-equivalent overweight rating from JPMorgan, citing favorable sentiment towards defense stocks. Cisco Systems was upgraded to a buy at Bank of America, with analysts highlighting strengths in areas such as Splunk, security, and artificial intelligence.
Constellation Brands was upgraded to a buy at Argus, with a price target of $306 per share, based on its promising outlook and potential for a dividend increase. PVH, the company behind renowned brands like Tommy Hilfiger and Calvin Klein, received an outperform rating from Wedbush following a post-earnings selloff.
Guggenheim downgraded ServiceNow due to valuation concerns after a significant run-up in stock price. Nevertheless, Evercore ISI added IBM to its tactical outperform list ahead of its first-quarter earnings release. UBS initiated coverage on SharkNinja with a buy rating, expecting market share gains and product expansion. Mizuho started coverage on GE Vernova, labeling the company as a diversified powerhouse in the energy transition.
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The investing landscape on Monday, April 15, offers a mix of market developments, analyst actions, and company updates that can provide valuable insights for investors looking to navigate the financial markets. As always, it is essential to conduct thorough research and due diligence before making any investment decisions.