Wall Street powering to new highs as big blue chips are making moves. Plus, Walmart is pushing the Dow higher with a massive buyback plan, but is this the right move for the transitioning retailer? And – Amazon, Apple, Facebook and Google — are they only great for investors? Scott Galloway says yes. Plus, Trump’s got his thumb on the NFL and ESPN. Will his game plan work, with ratings continuing to dip?
Winners and losers
Stocks in the red include Jabil Circuit as Goldman downgraded the chipmaker to sell claiming investors have been too optimistic in bidding up shares recently; Axalta Coating Systems as the transport coatings firm was downgraded by Citi to sell with a $25 price target; and Himax Technologies, with shares getting hit as Nomura/Instinet analysts believe its 3D sensing project with China’s Xiaomi will be delayed.
Stocks in the green today include Nvidia as it revealed a next-gen chipset for autonomous vehicles; Palo Alto Networks as Morgan Stanley upgraded the cybersecurity name to overweight with a $185 price target; and Walmart, with shares surging after the retail behemoth announced a $20 billion buyback plan and forecast a 3% gain in sales for fiscal 2019.
Tech’s ‘Four’
Apple, Amazon, Facebook, Google — The power they exert over our daily lives is unprecedented. NYU business professor, Scott Galloway has a new book out, “The Four: The hidden DNA of Amazon, Apple Facebook and Google.”
