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Famed investor Jim Cramer is all praise for Jayshree Ullal – the chief executive of Arista Networks Inc (NYSE: ANET) after her company reported financial results for its first quarter last night. Cramer has been bullish on Arista NetworksArista Networks handily topped Street estimates for both profit and revenue in its first financial quarter. According to the Mad Money host: $ANET is now up there with Club name Broadcom as an adjacency to the Titans as CEO Jayshree Ullal calls them. Is she the best in adjacents to hyperscalers? I am beginning to believe so. Investing in the computer networkin...
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Reddit Inc (NYSE: RDDT) is already up close to 40% versus its year-to-date low but analysts at Citi are convinced that it’s not out of juice just yet. Reddit stock could climb another 20%The investment firm reiterated its “buy” rating on the social news aggregator this morning and raised its price target to $65 which suggests another 20% upside from here. Citi remains bullish on Reddit stock after the quarterly earnings report the social media company posted last night. Analysts at the financial services behemoth told clients today: As Reddit builds out its ad stack, we look for Search (1B+ mo...
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Affirm Holdings Inc (NASDAQ: AFRM) is pushing to the upside in premarket on Wednesday after coming in ahead of Street estimates for its fiscal third quarter. Affirm stock rallies on impressive outlookThe stock is being rewarded also because $AFRM issued upbeat guidance for the future. The financial technology company expects its revenue to fall between $585 million and $605 million in the current quarter. Analysts, in comparison, were at $576 million. Max Levchin – the chief executive of Affirm Holdings said in a letter to shareholders today: Our consumers love Affirm. We cannot wait to delive...
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Rivian Automotive Inc (NASDAQ: RIVN) is slipping in extended hours on Tuesday even though it reported better-than-expected revenue for its first financial quarter. Why is Rivian stock down in after-hours?The stock is in the red partly because the EV firm did not raise its production guidance for 2024. $RIVN continues to see production to be capped at about 57,000 vehicles this year. It produced roughly the same number of vehicles last year. Still, RJ Scaringe – the chief executive of Rivian Automotive said in a press release today: Q1 set a strong foundation for remainder of the year as we foc...
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Jim Cramer says Tim Cook – the chief executive of Apple Inc (NASDAQ: AAPL) and his team is “very bankable” after the tech behemoth rolled out new iPads with its latest M4 chip on Tuesday. Cramer reiterates bullish view on $AAPLIt’s the first time the multinational has launched new versions of iPad since October 2022. According to CEO Tim Cook: This is the biggest day for iPad since its introduction. Cramer reiterated his bullish stance on $AAPL also because the Nasdaq-listed firm is developing its own AI chip for data centres, as per a WSJ report on Tuesday. He remains optimistic even though A...
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Weakness in Target Corp (NYSE: TGT) since late March is an opportunity to buy a quality name at a discount, as per analysts at Citi. Target stock has upside to $180The investment firm raised its rating on the retail behemoth this morning to “buy”. Its shares, the analysts are convinced, could climb to $180 or 13% from here. Citi turned bullish on Target stock today as its experts now see it on a stable path after a year or two of turbulence. We believe $TGT has emerged as one of the winners within the retail landscape with an opportunity to improve EBIT margin in years to come (particularly in...
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The sell-off in Bitcoin following the halving event was not unexpected, says Anthony Pompliano. He’s the founder of Pomp Investments. What Pompliano said in a CNBC interviewBTC now has its 200-day MA at a record high despite recent volatility which suggests the world’s largest cryptocurrency “continues to trend upwards over the long run”, he added in an interview with CNBC today. Pompliano noted that GBTC – the world’s largest Bitcoin fund recently saw $63 million in inflows after 78 straight days of outflows which also paints a rather rosy picture of what to expect from Bitcoin moving forward...
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Peloton Interactive Inc (NASDAQ: PTON) is up 20% on Tuesday following a report that private equity firms have shown interest in acquiring the connected fitness company. $PTON has formally engaged with one private equity firmAnonymous sources told CNBC this morning that the exercise equipment manufacturer has held formal discussions with at least one firm. A bunch of others are interested in taking over $PTON as well but it’s unclear if they have formally engaged with the Nasdaq-listed firm yet, they added. A representative of Peloton Interactive refrained from commenting on the report today ci...
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Nvidia Corp (NASDAQ: NVDA) is in the red at writing after Stanley Druckenmiller announced to have trimmed his stake in the chipmaker. Why did Druckenmiller cut his position in Nvidia stock?The billionaire investor lowered his exposure to the semiconductor behemoth as the stock has “had a hell of a run”. He was first introduced to $NVDA in the back half of 2022 – and “increased the position substantially” when OpenAI rolled out ChatGPT. The news arrives only days before Nvidia is scheduled to report its financial results for the first quarter. Consensus is for it to earn $5.14 a share – up many...
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Shares of Nikola Corp (NASDAQ: NKLA) are roughly flat in premarket on Tuesday after the EV firm came in shy of revenue estimates for its fiscal first quarter. How many vehicles did Nikola deliver in Q1?The electric vehicles company delivered 40 of its hydrogen fuel cell electric trucks in Q1 – up a more than expected 14% sequentially. Production stood at 43 units in the recently concluded quarter. Steve Girsky – its chief executive said in a press release today. We continue to move forward rapidly and execute our plans. And please keep that in mind – we are in the execution phase, not the plan...
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