Stocks Edge Lower as Bond Yields Keep Climbing; Companies Spin Off Units and Analysts Upgrade Tech

U.S. stocks edge lower Monday despite Congress avoiding shutdown. Bond yields keep rising.
Danaher completes spinoff of water business Veralto. Kellogg separates cereal unit into WK Kellogg.
Goldman adds Nvidia, Okta, Cintas, Quanterix to Conviction Buy List. Removes Salesforce, Johnson Controls.
DA Davidson upgrades Clorox on overdone selloff from cyberattack. Piper upgrades Zscaler, Datadog.
Susquehanna upgrades FedEx on cost cuts, valuation. Morgan Stanley upgrades U.S. Steel on investments.

cnbc.com

Relevant topic timeline:

8/22/2023

Here are 18 stocks Jim Cramer is watching, including a big Goldman call on AI names

Goldman Sachs and Morgan Stanley analysts recommend stocks like Nvidia, Microsoft, Alphabet, Amazon, Meta Platform, Salesforce, and Apple, while companies like Zoom, Baidu, Campbell, Aramark, Hasbro, Intuit, Visa, GXO Logistics, Upstart, and SoFi receive price target updates or ratings changes from various financial institutions.

9/6/2023

CNBC Daily Open: Lingering embers of inflation

Stocks sold off and U.S. Treasury yields rose for the second consecutive day, while Germany's manufacturing orders experienced a significant decline; Apple signed a long-term agreement with Arm, boosting anticipation for Arm's upcoming IPO; the European Commission designated Alphabet, Amazon, Apple, ByteDance, Meta, and Microsoft as "gatekeepers" under its new Digital Markets Act; Goldman Sachs updated its conviction list, adding a new company with projected revenue growth and removing another after a significant drop in shares; and markets are focusing on stubborn inflation and the threat of higher interest rates, causing stocks to be pressured and technology stocks to be particularly affected.

10/2/2023

Nvidia Stock Jumps as Goldman Sachs Lauds Company's Strengths in Accelerated Computing and AI

Nvidia stock rose after being added to Goldman Sachs' "conviction list" of top stock picks due to its position as a dominant supplier in the artificial intelligence industry.

10/2/2023

Nvidia Soars on AI Chip Momentum and Upbeat Guidance for Data Center Growth

Goldman Sachs has added Nvidia to its conviction list, citing the chip maker as the main supplier in the AI "gold rush," while another analyst suggests that Nvidia may release its next-generation chip architecture early due to increased AI spending.

10/3/2023

Goldman Downgrades Kellogg, Disney Cracking Down on Passwords, Berkshire Sells HP Shares

Goldman Sachs initiates a sell rating on WK Kellogg due to weak demand and margin pressure, while Jefferies cuts price target on Starbucks and Jefferies upgrades Wingstop. Procter & Gamble holds its annual meeting, Disney+ cracks down on shared passwords, and Warren Buffett's Berkshire Hathaway sells 5.1 million shares of HP. UBS downgrades Emerson Electric but raises price target, Bank of America cuts price target on Crane, Piper Sandler raises price target on Valero Energy, Wells Fargo cuts price target on Boeing, and BofA takes Delta Air Lines to $40 per share ahead of EPS.

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Posted 10/2/2023, 1:09:26 PM

Stocks Edge Lower as Bond Yields Keep Climbing; Companies Spin Off Units and Analysts Upgrade Tech

U.S. stocks edge lower Monday despite Congress avoiding shutdown. Bond yields keep rising.
Danaher completes spinoff of water business Veralto. Kellogg separates cereal unit into WK Kellogg.
Goldman adds Nvidia, Okta, Cintas, Quanterix to Conviction Buy List. Removes Salesforce, Johnson Controls.
DA Davidson upgrades Clorox on overdone selloff from cyberattack. Piper upgrades Zscaler, Datadog.
Susquehanna upgrades FedEx on cost cuts, valuation. Morgan Stanley upgrades U.S. Steel on investments.

cnbc.com

Relevant topic timeline:

8/22/2023

Here are 18 stocks Jim Cramer is watching, including a big Goldman call on AI names

9/6/2023

CNBC Daily Open: Lingering embers of inflation

10/2/2023

Nvidia Stock Jumps as Goldman Sachs Lauds Company's Strengths in Accelerated Computing and AI

Nvidia stock rose after being added to Goldman Sachs' "conviction list" of top stock picks due to its position as a dominant supplier in the artificial intelligence industry.

10/2/2023

Nvidia Soars on AI Chip Momentum and Upbeat Guidance for Data Center Growth

10/3/2023

Goldman Downgrades Kellogg, Disney Cracking Down on Passwords, Berkshire Sells HP Shares