Uber Technologies, Inc. (UBER)
Pre-market:
- Yahoo Finance Video
Top 3 tech picks ahead of Q2 earnings: Evercore's Mahaney
Evercore ISI managing director and head of internet research Mark Mahaney joins Catalysts to discuss his top picks in the tech sector ahead of this week's major earnings. "We've had a big rally in a lot of these stocks. I refer to six stocks as the Super Six.' It's Google (GOOG, GOOGL), Amazon (AMZN), Meta [Platforms] (META), Netflix (NFLX), Spotify (SPOT), Trade Desk (TTD). They're all up 30 to 60% year to date. Having said that, it's hard to materially outperform if you're up that much year to date, off of reasonable valuations to begin the year, not off of beaten-down lows, which was the case last year. So I want to be highly selective here," Mahaney explains. He is bullish on Alphabet because of its product cycle and growth in its YouTube platform, also pointing to Uber (UBER) as his number two pick, "I think we just had some dislocation in the stock recently over fears of robotaxis and how that could disrupt ridesharing. I don't think it will. I think robotaxis will be part of the ridesharing solution." On the other hand, Mahaney does not have Amazon in his top three list of tech stocks despite maintaining its Buy rating. He explains, "I was a little concerned about some of the iffy retail sales data points that we've seen. April and May were weak. However, June came back gangbusters, so there may not be. There probably isn't a problem with Amazon retail..." Catch Catalysts' full interview with Mark Mahaney. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Melanie Riehl
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VP Harris's impact on markets, earnings this week: Catalysts
In a turn of events over the weekend, President Joe Biden has withdrawn from his 2024 re-election campaign, endorsing Vice President Kamala Harris as the potential Democratic nominee. To explore the potential impact on financial markets, Rice University Professor of History and presidential historian Douglas Brinkley joins Seana Smith and Madison Mills on today's episode of Catalysts. Former Montana Governor (D-Mt.) and co-chair of American Bridge 21st Century Steve Bullock also comes onto the program to discuss the 2024 presidential race and how Harris could win in November. Nvidia (NVDA) is currently working on a new version of its Blackwell AI chips for the China market, which would be compatible with current US export regulations, according to a report from Reuters. Shares of the company are moving higher on Monday morning. Shares of Abercrombie & Fitch Co. (ANF) are moving higher after JPMorgan upgraded the stock to Overweight from Neutral and raised its price target to $194 per share. The analyst behind the call says the brand has "successfully expanded its customer reach," as one of the reasons for the upgrade. Tech giants Alphabet (GOOG,GOOGL) and Tesla (TSLA) are set to release their latest quarterly earnings this week with investors watching closely to get any insight into how the tech sector may play out as many rotate out of Big Tech in favor of small-cap stocks (^RUT). Evercore ISI managing director and head of internet research Mark Mahaney discusses why he believes Alphabet and Uber (UBER) are top picks in the tech sector. For more expert insight and the latest market action, click here. This post was written by Nicholas Jacobino
- PA Media: Money
Flying taxi journeys could cost the same as ‘hiring an Uber’, UK firm says
Vertical Aerospace said it expects its eVTOLs will become ‘very affordable’ once production grows.
