Wall Street Breakfast

Big banks mostly top expectations but the sector sees red. China is hinting at more economic stimulus. Quant Ratings tells us which sectors look strongest into earnings.Get a fulll transcript of this episode at Seeking Alpha.Show LinksDividend Roundup: Procter & Gamble, MetLife, Caterpillar, CVS Health, and moreCiti sees '99B reasons to stay long' chip equipment stocks, new highs expectedAT&T slips as JP Morgan downgrades, citing worries over wireless, broadbandCitigroup Q2 earnings miss as market, investment banking revenue disappointAlcoa cut at J.P. Morgan on weaker aluminum fundamentalsWells Fargo Q2 earnings beat helped by strong net interest income

Bank Q2 earnings set to kick off with the bar set low as rates stay high. (00:25) Hollywood actors go on strike, setting up historic entertainment shutdown. (01:45) Judge denies FTC request to temporarily block Activision (ATVI) sale to Microsoft (MSFT). (03:04)Transcripts available on Seeking AlphaShow links:Ahead of bank earnings, these names have seen the highest 2023 returns so farWells Fargo Q2 2023 Earnings Preview: What To Watch ForJPMorgan Earnings Preview: The P/E Has Compressed As Earnings Power BuildsRoivant reportedly could sell colitis drug to Roche for over $7BWorkers building Taiwan Semi Arizona plant reportedly hit with pay cutU.S. federal budget deficit narrows less than expected in JuneMicrosoft, Activision consider sale of UK cloud-gaming rights - reportNikola soars 62% after disclosing hydrogen truck saleCatalyst Watch: CPI, major bank earnings, Amazon Prime Day and CAVA ratings

OpenAI, the maker of the popular ChatGPT chatbot, is under investigation by the U.S. government over consumer protection risks. Wholesale inflation comes in lower than expected, helping stocks again. But hedge funds are turning away from Wall Street.Get a transcript of this episode at Seeking Alpha.Show Links:Airline stocks fly high after strong results from Delta Air LinesHollywood set for first double strike in 60 years as talks between actors, studios failInitial jobless claims unexpectedly fall in past week, continuing claims riseGold, silver rally to highest since mid-June after more tame U.S. inflation dataPepsiCo rallies after strong organic sales power double earnings beatPlug Power wins order for 'largest announced project' in Europe oil and gas

Why did Palo Alto Networks (PANW) stock drop? Blame Microsoft (MSFT). (00:26) Medalist (MDRR) to suspend dividends for at least the next six months. (01:38) Elon Musk unveils xAI to 'understand reality' and 'true nature of universe.’ (02:21)Transcripts available on Seeking AlphaShow links:Bob Iger to continue as Disney CEO until end of 2026Sarcos to terminate 25% of its workforce, withdraws full-year revenue guidanceChips rise after Nvidia $50M AI investment, Broadcom deal approvalFTC appeals judge's OK for $69B Microsoft-Activision deal (updated)Catalyst Watch: CPI, major bank earnings, Amazon Prime Day and CAVA ratings

The June CPI report has stocks rallying, yields falling and betting the Fed is one and done. Oil continues to make gains. But this chart is flashing a major sell signal.See a transcript of this show at Seeking Alpha.Show Links:This Morgan Stanley chart is flashing the biggest stock sell signal in recent memoryFood inflation is moderating - watch these stocksAirline fares fall 19% in June from a year agoActivision drops amid report that UK may need to do a new probe of Microsoft dealMicrosoft gets 'trophy moment' with Activision court win: WedbushZIM Integrated Shipping cuts full-year guidance, weighed by weak freight ratesDomino's Pizza soars after striking global delivery deal with Uber TechnologiesCathie Wood's ARK Innovation takes some profit on Coinbase stock surge

June consumer price index expected to show inflation cooling further — or will it? (00:29) EU expands probe into suicide risk linked to weight loss drugs. (02:08) FTC reportedly leaning toward quick appeal of Microsoft-Activision (MSFT) (ATVI) loss. (03:02)Transcripts available on Seeking AlphaShow links:Coty rises as Kim Kardashian said to want SKKN stake backDisney reportedly discussing strategic options for India businessShift to terminate 34% of workforce, end investment into dealer marketplace businessMatterport terminates 30% of workforce to accelerate path to profitabilityTaiwan Semi eyes 2024 construction of second Japanese chip plantTower Semiconductor gains amid report Intel CEO visiting ChinaCatalyst Watch: CPI, major bank earnings, Amazon Prime Day and CAVA ratings

The Nasdaq 100 faces an extraordinary rebalancing for just the third time and Wells Fargo spies some near-term trades. BofA gets a hefty fine from the CFPB. Did SVB's collapse delay a recession?Read a transcript of the episode at Seeking Alpha.Show Links:Wells Fargo highlights Nasdaq 100 rebalance trade opportunitiesGoldman's top four themes for earnings season (yes, one is AI)Microsoft said to lay off sales, customer support staff as new fiscal year beginsToyota slides after report it will focus on hydrogen-powered vehicles in Europe, ChinaJPMorgan upgraded to Buy at Jefferies; Truist, Zions, Hancock Whitney cut to HoldWynn Resorts is tipped by JPMorgan for second-half rallyJetBlue falls after Evercore ISI downgrades due to risk a Spirit acquisition drags on results

Rite Aid (RAD) dips amid report it's considering bankruptcy to address opioid liabilities (00:28). Berkshire Hathaway (BRK.A) (BRK.B) to buy Dominion's (D) 50% stake in Cove Point LNG in $3.3B deal (01:54). Iovance Biotherapeutics (IOVA) dips on pricing $150M offering.(02:49)Transcripts available on Seeking AlphaShow links:Rite Aid May Be Forced Into Ch.11 Bankruptcy To Resolve Opioid LiabilitiesApple launches online store on Chinese social media platform WeChat - reportMeta's Threads may bring 5% revenue upside as it grows to Twitter size: EvercoreBP reaches $10.75M settlement in U.S. gas market manipulation casePayoneer Global plans to lay off 9% of headcountFortinet, Check Point, CrowdStrike have 'favorable setups' going into Q2: MSDraftKings jumps to new 52-week high with investors confident on the profitability timelineCatalyst Watch: CPI, major bank earnings, Amazon Prime Day and CAVA ratings

Carl Icahn reportedly severs personal loans from Icahn Enterprises (IEP). SVB (SIVBQ) sues the FTC to recover $1.9 billion. Automakers, union heading for a tough battle.You can read a transcript of this episode at SeekingAlpha.Show Links:Top 11 technical picks for the second half of 2023Goldman Sachs sees rays of hope in underperforming health sectorNetflix rises as Morgan Stanley boosts estimates on higher expectationsCharles Schwab riased to Outperform at JMP as cash sorting headwinds abateHelen of Troy EPS of $1.94 beats by $0.26

Alibaba (BABA), Tencent (TCEHY) in focus as China unwinds tech crackdown (00:28). New M&A rules likely to delay deals by months, add significant costs (01:46). China's consumer inflation unexpectedly flat in June, producer prices fall further (03:19). Show links:Record-breaking U.S. oil production helps thwart Saudi efforts to drive up pricesGoldman Sachs sees rays of hope in underperforming health sectorGridBeyond buys Veritone's energy businessAcumen, BridgeBio, Arcus among BTIG's top healthcare picks for 2H 2023Catalyst Watch: CPI, major bank earnings, Amazon Prime Day and CAVA ratings

Matthew Tuttle and Rob Isbitts dissect today's stock market and its problematic index construction (1:00), T-Bill rates and yield curve creep (8:00). This is an abridged conversation from Seeking Alpha's Investing Experts podcast.Show links:The Magnificent Seven Or The Mediocre Seven?SPY: Recent Gains Distract From Weakening Long-Term Price TrendS&P 500: Buy Summer, Sell Autumn Scenario Favors IVV, XYLGReplace Some SPY With SHY: 2-Year Treasuries Look Better Than The S&P 500Forward-Looking Due DiligenceTranscripts available on Seeking AlphaWall Street Breakfast on Twitter

Catalyst watch for the week of July 9. Seeking Alpha Managing News Editor Kim Khan on what investors can expect from CPI midweek and major bank earnings at the end of the week (01:45) . Hot topics: What key issues will be in focus for the banks? (03:09) U.S. or China, who stands to benefit as new curbs are implemented? (04:16) Show links:Catalyst Watch: CPI, major bank earnings, Amazon Prime Day and CAVA ratingsRates Spark: The Burning Question Is Whether Payrolls Agree With The ADPKBWB: Bullish On Banks Before Earnings Season BeginsKBWB: Stress Test Cleared But Not Out Of The Woods YetYellen visit to China aims to defuse tensions with BeijingTime is on China's side in the chip war - here's the Jefferies tradeWhy Threads Is Great For Meta

June payrolls gain misses forecasts for the first time in months. Citi gets bearish on amusement parks. BofA picks its best stocks for growth and value.Show links:BTIG unveils top picks for rest of '23: D.R. Horton, CrowdStrike, DraftKings among namesDividend Roundup: Unilever, PNC Financial, Oracle, AbbVie, and moreApple said to tread carefully with Vision Pro, have appointment-only launchHumana cut to Neutral at J.P. Morgan on near-term uncertainty

Canada to subsidize Stellantis (STLA) battery plant with up to C$15B in incentives (00:32). Will June nonfarm payrolls cool enough for Fed's liking? (01:53) PDD Holdings (PDD) sinks even as popular Temu shopping app expands abroad (03:02).Show links:Twitter threatens to sue Meta Platforms over Threads launchMallinckrodt delays $200M settlement payment again as it mulls bankruptcyBiogen, Eisai win full FDA approval for Alzheimer's drug LeqembiSandal maker Birkenstock looking at potential U.S. IPO - reportTesla sacks some battery workers at Shanghai factory - reportCatalyst Watch: BorgWarner, Biogen, iRobot and Coty are in the spotlight during holiday-shortened week

A raft of data shows persistent labor market tightness. Yields jump as market prices in 90% chance of a Fed hike. Microsoft (MSFT) in pole position to reach $3 trillion next.Show links:Paycom, Chipotle highlight Goldman's Rule of 10 stock screensAs China slowdown continues, here are the U.S. stocks with the most exposureJob openings fall more than expected in May JOLTS report, quits rate ticks upJob cuts drop 49% in June to 40.7K: Challenger Job Cuts ReportInitial jobless claims renew climb in past weekCopper extends drop as hawkish Fed, China woes hit sentiment

Oil bounces to two-week high as Saudi says OPEC will do 'whatever necessary.' (00:29) PHINIA (PHIN) swings higher on first day of trading (01:19). Instagram (META) launches 'Twitter killer' Threads text app (01:37).Show links:BuzzFeed seeking $150M for Complex Networks - reportVietnam in talks with Exxon on supply for planned LNG-fired power plantsPinterest, Amazon partnership is live 'earlier than expected', says RBCNY Fed's John Williams says he 110% supports June's hawkish pauseGoogle alleges India's antitrust agency protecting Amazon in Android case - reportCatalyst Watch: BorgWarner, Biogen, iRobot and Coty are in the spotlight during holiday-shortened week

China ups the chip battle stakes with controls on essential metals exports. Netflix (NFLX) is upgraded ahead of earnings. Mobile apps see mostly strong global download data.Show links:Time is on China's side in the chip war - here's the Jefferies tradeMeta Platforms could have $925M tax bill from Italy after assessmentCoinbase cut to Neutral at Piper on valuation, 'too much uncertainty'Factory orders rise less than expected in May

Instagram (META) puts Twitter rival app Threads on App Store with launch imminent (00:29). Illumina (ILMN) faces record European Union fine over Grail deal next week - report (01:42). GTCR in advanced talks to buy Fidelity National Information Services (FIS) Worldpay stake for as much as $20B - report (02:24).Show links:Microsoft likely to face antitrust investigation from EU over Teams practicesPaycom, Chipotle highlight Goldman's Rule of 10 stock screensBest and worst performing healthcare IPOs of 2023, so farYahoo eyes comeback to public markets - reportSpotlight on Nathan's Famous stock after Hot Dog Eating ContestCatalyst Watch: BorgWarner, Biogen, iRobot and Coty are in the spotlight during holiday-shortened week

EV makers rallied as deliveries showed better-than-expected demand. Stocks finished slightly higher ahead of holiday. Musk vs. Zuckerberg in August?Show links:Netflix, Disney, Datadog among BofA's 10 best ideas for Q3Did the S&P rally last week jinx market gains for the second half of 2023?Mattel defends Barbie trademark in legal battle with BurberryISM Manufacturing for June slips to three-year low of 46AstraZeneca reports mixed Phase 3 data for lung cancer drugConstruction spending +0.9% in MayU.S. PMI manufacturing stays at contraction level

As northeast U.S. air quality suffers from wildfires, some potential stock ideas (FIXT). (00:28) Tesla (TSLA) confirms new record deliveries, beats expectations (01:55). Twitter fixes limit on tweets users can read per day (03:21).Show links:General Motors acquires battery software startup Algolion for early battery defect detectionUBS aims to skip $10B backstop from Swiss govt for Credit Suisse deal - reportGilead, Teva acquitted in pay for delay generic HIV drugs caseApple slashes Vision Pro targets amid production woes- reportMacau casino revenue in June misses estimates and dips sequentiallyNIO reports June delivery of 10,707 vehiclesCatalyst Watch: BorgWarner, Biogen, iRobot and Coty are in the spotlight during holiday-shortened week