My top 10 things to watch Thursday, April 18
- The S&P 500 is, once again, trying to break its losing streak, looking higher going into the open. On four straight down sessions, the index was down 2% for the week, as of Wednesday’s close. First quarter earnings season is ramping — and so far, the results have been mostly positive.
- Needham says cost cuts will lead to higher profits at Amazon. The analysts hike their earnings-per-share (EPS) full-year estimate. Club name Amazon reports its quarter on April 30.
- Micron Technology is about to get $6.1 billion in grants for the federal government’s CHIPS Act. It’s surprising people, which is odd because Micron is a largely U.S. builder and should be rewarded.
- Taiwan Semiconductor Manufacturing Company delivers a very strong quarter. It was initially viewed as positive but then it sold off. Was the EPS beat not enough? The Club’s chipmakers are Nvidia and Broadcom.
- KeyBanc cuts CrowdStrike price target to $376 per share from $430. The analysts point to a survey that says demand may be softer. I do find this hard to believe. In cybersecurity, we own Palo Alto Networks.
- Piper Sandler raises Conocophillips price target to $157 per share from $145. The three most loved right now are Conoco, Chevron and Diamondback Energy for growth lovers. We like and own Coterra Energy for the Club. Piper takes Chevron PT to $204 from $180. Two quarters ago, you couldn’t give this stock away.
- Deutsche Bank downgrades Tesla to hold from buy on a thesis-changing pivot. The analysts say robotaxis are…
Read More: Jim Cramer’s top 10 things to watch in the stock market Thursday