Wall Street is looking for a bit more of the summer calm following last week's wild gyrations caused by China's currency devaluations. Stocks (^GSPC) ended last week in positive territory after enduring some big jitters early on.
Yahoo Finance Senior Columnist Michael Santoli thinks investors will be turning their attention closer to home over the next few days.
"It's all about what do energy stocks do, we're going to get some retail company earnings and of course we're going to get those Fed Minutes from the July meeting," he points out. "It's going to be more about U.S. corporate activity as opposed to some of those macro things we've been consumed with."
Tesla price target skyrockets
Here are some of the stocks the Yahoo Finance team will be watching for you today.
Tesla Motors (TSLA) Morgan Stanley (MS) is upping its price target by -- get this-- 66%! The firm is now looking for shares to reach $465. Morgan Stanley says Tesla is uniquely positioned to dominate the market in the changing world of automobile technology.
J.C. Penney (JCP) It is also getting a boost from a ratings call. Investment firm B. Riley is initiating coverage of the retailer with a buy rating...and a target price of $12.50. The move comes after J.C. Penney reported a much better than expected financial report last week, saying its turnaround plan is working.
AVEO Pharmaceuticals (AVEO) The biotech firm has a new deal with Novartis (NVS) to license its AV-380 antibody treatment for cancer patients. AVEO says if the drug is successful, the agreement could be worth up to $311 million.
Estee Lauder (EL) The cosmetics maker topped earnings forecasts in the fiscal first quarter, but revenue came in light. Like many other companies with a major international presence, Estee Lauder blames the strong dollar for hurting sales.
AngloGold Ashanti (AU) The South African-based gold miner says it is cutting costs and moving to get the most ore out of its aging mines after reporting a 26% drop in quarterly profit. Like other gold producers, Anglo Gold has been punished by the falling price of the precious metal.
Apple self-driving cars, too!
Along with the Morgan Stanley comments about Elon Musk's company and autonomous cars...we have more news - from Apple (AAPL). The Guardian newspaper reports Apple is indeed building a self-driving car in Silicon Valley. Documents obtained show Apple inquiring about using a high-security testing ground for autonomous vehicles near San Francisco.
"The force” is with Disney (DIS). The company says it’s building two immersive Star Wars-themed attractions at Disneyland and Walt Disney World. CEO Bob Iger claims the attractions, or “lands,” will be 14 acres each and staffed by “local inhabitants” of various Star Wars Worlds.
We may be years away from delivery by drone, but Amazon's (AMZN) CEO Jeff Bezos tells the Telegraph of London that he believes seeing drones will soon be, quote, "as common as seeing a mail truck." Bezos is also responding to the New York Times article that described Amazon as having a harsh and back-stabbing work environment. He wrote to employees:
“I strongly believe that anyone working in a company that really is like the one described in the NYT would be crazy to stay. I know I would leave such a company.”
He then asked employees to report any abuse they witness directly to him or HR.
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