Markets opening higher today continuing last week's trend. The battered NASDAQ gained 2.6% last week. Bitcoin is above $22k.
Last month US retail sales had the most significant drop since 2021. Even Procter & Gamble (PG) reported sales and profit fall for the last quarter, as consumer spending seems to be stifled. Conagra (CAG) even says there are no price hikes this year for some kitchen pantry staples like beef jerky and Chef Boyardee.
Salesforce (CRM) gains Activist investor Elliot Management. I expect there will be some changes in the company. Receives price target reduction from Deutsche Bank. 5 Activist investors are now involved in the company.
Spotify (SPOT) announced it will lay off 6% of its workforce as tech layoffs are continuing.
Stocks to Watch
Qualcomm (QCOM) gets an overweight rating, an upgrade from equal weight, and Buy from Hold. Same for Advanced Micro Devices (AMD).
Nvidia (NVDA) is building on that semi-love and snags multiple raises as the sector regains some favor.
Ford (F) might be on the receiving end of Tesla's (TSLA) recent outflows. Currently, there is no competition for the F-150 Lightning and the Mach-E is viable competition for other Tesla models. Also, if chip issues are resolved, Ford will undoubtedly benefit from that.
Happy Investing.
The Punkrock Capitalist
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