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Abercrombie & Fitch Co. - Class A (ANF) Stock News & Articles - 24/7 Wall St. Insightful Analysis and Commentary for U.S. and Global Equity Investors Sun, 28 Jun 2026 23:59:25 +0000 en-US hourly 1 What AVUV Investors Need to Watch: Rate Cuts and Regional Bank Exposure Mon, 29 Jun 2026 11:55:39 +0000 ... What AVUV Investors Need to Watch: Rate Cuts and Regional Bank Exposure]]> The post What AVUV Investors Need to Watch: Rate Cuts and Regional Bank Exposure appeared first on 24/7 Wall St.. Avantis U.S. Small Cap Value ETF (AVUV) is up 23% year-to-date, beating Russell 2000 with $23.5 billion in assets. AVUV's portfolio heavily bets on rate-sensitive sectors like regional banks and consumer discretionary, making Fed interest rate decisions critical. Tariff exposure from holdings like American Eagle and Abercrombie & Fitch poses downside risk to AVUV's 2024 performance outlook. The Avantis U.S. Small Cap Value ETF (NYSEARCA:AVUV) is having the kind of year that small-cap value advocates have been promising since 2021. AVUV is up 23% year to date and 39% over the past 12 months, beating the Russell 2000 by roughly two points and outpacing the passive small-cap value benchmark by a wider margin. With roughly $23.5 billion in net assets, AVUV is now the dominant active vehicle in this corner of the market, and the next 12 months will test whether the rally has another leg. The setup heading into the second half AVUV’s portfolio leans hard into the parts of the market that respond most violently to interest rates and consumer spending. The fund’s largest positions include Five Below at roughly 1%, GATX near 0.9%, and Avnet around 0.8%, with deep representation in regional banks, energy producers, and specialty retail. That mix has worked because the Fed cut 75 basis points between September and December last year, lowering the funds rate to 3.75%, then paused. Small caps got the relief; now they need the next move. The macro factor that matters most: the Fed’s next decision The single most important variable for AVUV over the next year is whether the Fed resumes cutting before September. The fund’s heavy exposure to leveraged small-cap balance sheets, financials like Axos Financial, Bank OZK, and Bread Financial, and rate-sensitive consumer names means another 50 basis points of easing would lower refinancing costs and steepen the yield curve favorably for net interest margins. The funds rate has held at 3.75% for six months, and the 10-year Treasury is near 4.4%, close to its 12-month average. Watch the CME FedWatch tool and the dot plot updates that accompany each FOMC meeting. The specific threshold to monitor: if futures pricing for a September cut falls below 50%, small-cap value historically gives back gains quickly. If a cut gets pulled forward to July, expect AVUV’s regional bank and consumer discretionary sleeves to lead. The fund-specific factor: consumer discretionary concentration meets tariff risk What separates AVUV from broader small-cap value vehicles is its concentrated bet on consumer discretionary names carrying real tariff exposure. American Eagle Outfitters (NYSE:AEO) is guiding to a 10% tariff rate in Q2 and 15% in the back half. Abercrombie & Fitch (NYSE:ANF) initially modeled a 70 basis point headwind, since revised to roughly 20 basis points. Academy Sports & Outdoors (NASDAQ:ASO) flagged trade policy as a headwind even as it raised its full-year guide to $6.40 to $6.80 in adjusted EPS. The transmission mechanism is direct. AVUV owns roughly 6.3 million shares of AEO and 1.3 million shares of ANF, and the consumer discretionary cluster collectively represents a meaningful slice of the portfolio. Consumer sentiment just printed 44.8 in May, a recessionary reading, while retail sales hit $763.7 billion, a 12-month high. That divergence cannot last forever. Track the monthly Census Bureau retail sales release and quarterly tariff commentary from these holdings. The alternative if your view differs If you want small-cap value exposure without the active profitability tilt that has driven AVUV’s outperformance, Vanguard Small-Cap Value ETF (NYSEARCA:VBR) offers a cheaper, more diversified index alternative. VBR is up 16% year to date, materially behind AVUV, but with less single-stock concentration and lower turnover. The iShares Russell 2000 ETF covers the broader small-cap universe without the value screen. What to watch The two signals that matter: the September FOMC decision, and the back-to-school tariff commentary from AEO, ANF, and Bread Financial in August earnings. A September cut paired with mitigated tariff impact extends AVUV’s lead. A Fed hold paired with margin compression at the consumer names is when the rotation reverses. The post What AVUV Investors Need to Watch: Rate Cuts and Regional Bank Exposure appeared first on 24/7 Wall St..]]> Here Are Wednesday’s Top Wall Street Analyst Research Calls: Advanced Micro Devices, American Eagle Outfitters, GlobalFoundries, IAC, Merck, Palantir Technologies, Reddit, and More Wed, 06 May 2026 11:51:04 +0000 ... Here Are Wednesday’s Top Wall Street Analyst Research Calls: Advanced Micro Devices, American Eagle Outfitters, GlobalFoundries, IAC, Merck, Palantir Technologies, Reddit, and More]]> The post Here Are Wednesday’s Top Wall Street Analyst Research Calls: Advanced Micro Devices, American Eagle Outfitters, GlobalFoundries, IAC, Merck, Palantir Technologies, Reddit, and More appeared first on 24/7 Wall St.. Pre-Market Stock Futures: Futures are trading higher on Wednesday as news of an impending end to the Iran war is sending oil prices dramatically lower. This news comes after a bounce-back Tuesday that benefited from lower oil prices, some strong earnings, and solid buying from retail investors. At the same time, hedge funds continue to sell into any market strength. In fact, BTIG reported that the 2nd-largest hedge fund selling of technology stocks in a decade matches the 3rd-largest retail fund flows into the QQQ ETF. With that in mind, the Nasdaq soared to yet another all-time high on Tuesday, closing the day up 1.03% at 25,326, while the S&P 500 also closed at an all-time high on Tuesday, up 0.81% at 7,259. The Dow Jones Industrials checked in with a gain of 0.73% to close at 49,298. The big winner on the day was the small-cap-heavy Russell 2000, which has been the leading index this year, closing up 1.64% at 2,841, and that also was another all-time high. Treasury Bonds: After hitting some high yields Monday, not seen in months, yields were lower across the Treasury curve as buyers jumped in, especially on longer-dated U.S. debt. While concerns over the potential for inflation to continue to edge higher and the possibility of no interest rate cuts until 2027 continue to hover over the market, 5%+ yields on the 20- and 30-year bonds were too much to ignore. The 30-year long bond finished trading Tuesday at 4.99%, while the benchmark 10-year note was last seen at 4.42%. Oil and Gas: Some selling across the energy complex was a major positive on Tuesday, as both major benchmarks finished the day lower. The lack of negative news about Iran and the passage of some ships escorted by the U.S. Navy safely through the Strait of Hormuz contributed to lower prices. Brent Crude finished the day at $110.30, down 3.64%, while West Texas Intermediate closed the session at $102.80, down 342%. The last trade for Natural gas was reported at $2.76, down 3.59%. Gold: As has been the rule lately, when stock prices go higher, Gold and Silver often follow along in tandem, and that was the case on Tuesday. Gold closed the day higher by 0.76% at $4,556, while Silver was last seen at $72,74, higher by 0.18%. This comes after it was reported that Central Banks from around the world were net sellers of gold in March, with a stunning 30 tonnes of outflows. Crypto: The cryptocurrency market surged, with Bitcoin (BTC) breaking above $80,000 for the first time in three months and reaching $81,500. The rally was powered by more than $500 million in fresh inflows into spot Bitcoin ETFs, robust institutional buying, and growing investor appetite for higher-risk altcoins. The bullish momentum held steady despite persistent geopolitical tensions in the Middle East. At 8 AM EDT, Bitcoin traded at $82,490, while Ethereum was quoted at $2,411. 24/7 Wall St. reviews dozens of analyst research reports daily to identify new investment ideas for both investors and traders. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Here are some of the top Wall Street analyst upgrades, downgrades, and initiations seen on Wednesday, May 6, 2026. Upgrades: Advanced Micro Devices (NASDAQ: AMD) was upgraded to Buy from Neutral at Goldman Sachs, which launched the target price for the chip giant to $450 from $240. American Eagle Outfitters (NYSE: AEO) was upgraded to Equal Weight from Underweight at Barclays, with a $19 target price. LCI Industries (NYSE: LCII) was raised to Buy from Neutral at Roth Capital, which has a $164 target price for the shares. GlobalFoundries (NYSE: GFS) was raised to Positive from Neutral at Susquehanna, which doubled the target price for the shares to $100 from $50. Palantir Technologies (NASDAQ: PLTR) was raised to Buy from Hold at Argus, which has a $190 target price objective. Downgrades: Abercrombie & Fitch (NYSE: ANF) was downgraded to Underweight from Equal Weight at Barclays, which cut the target price for the retailer to $76 from $95. Coupang (NYSE: CPNG) was downgraded to Neutral from Buy at Citigroup, which trimmed the target price for the stock to $22.20 from $23. IAC (NYSE: IAC) was downgraded to Hold from Buy at Jefferies, which stays with a $44 target price for the company. Reddit (NYSE: RDDT) was downgraded to Accumulate from Buy at Phillip Securities, which dropped the target price for the stock to $200 from $240. TopBuild (NYSE: BLD) was cut to Hold from Buy at Loop Capital, which kept a $485 target price for the shares. Initiations: Celsius Holdings (NASDAQ: CELH) was initiated with a Neutral rating at Rothschild & Co Redburn, which has a $47 target price for the company. Dakota Gold (NYSE: DC) was initiated with an Outperform rating at CIBC, with an $11 target price. Kymera Therapeutics (NASDAQ: KYMR) was started with a Buy rating at Canaccord, with a $106 target price. Merck & Co (NYSE: MRK) was reinstated with a Neutral rating at Citigroup, which has a $125 target price for the pharmaceutical giant. The post Here Are Wednesday’s Top Wall Street Analyst Research Calls: Advanced Micro Devices, American Eagle Outfitters, GlobalFoundries, IAC, Merck, Palantir Technologies, Reddit, and More appeared first on 24/7 Wall St..]]> Abercrombie & Fitch Could Surge to $108 — Wall Street Analyst Says the Risk/Reward Is Too Good to Ignore Thu, 26 Mar 2026 15:25:18 +0000 ... Abercrombie & Fitch Could Surge to $108 — Wall Street Analyst Says the Risk/Reward Is Too Good to Ignore]]> The post Abercrombie & Fitch Could Surge to $108 — Wall Street Analyst Says the Risk/Reward Is Too Good to Ignore appeared first on 24/7 Wall St.. Abercrombie & Fitch (NYSE:ANF) has had a turbulent 2026. Shares are down 26% year-to-date, pulling back from a 52-week high of $133.11, though the stock has recovered 2.65% over the past week and sits nearly 21% above where it traded one year ago. Most analysts carry more moderate forecasts, with the Street consensus target at $120.78. But Needham analyst Tom Nikic just stepped in with a fresh Buy initiation and a $108 price target, arguing that fundamentals are stabilizing and the risk/reward is compelling at current levels. That target sits meaningfully above the stock’s recent price of $88.55. Can ANF realistically reach $108 by the end of 2026? Tom Nikic’s $108 ANF Prediction Nikic’s conviction rests on two stabilizing trends. First, the Abercrombie brand’s comparable sales have dramatically improved in recent quarters and could return to positive territory soon, after declining through much of fiscal 2025. The brand already posted 4% net sales growth in Q4, marking a return to positive comparable sales growth. Second, the stock’s valuation is undemanding: shares trade at a forward P/E of just 8.08x, well below typical consumer discretionary peers, despite the company delivering 13 consecutive quarters of net sales growth. Key Drivers of ANF Stock Performance Hollister’s sustained momentum: Hollister delivered 15% full-year net sales growth in fiscal 2025, with quarterly acceleration ranging from +22% in Q1 to +6% in Q4. This brand engine provides durable, compounding revenue growth that supports long-term earnings expansion. Aggressive share repurchases compounding EPS: The company bought back 5.4 million shares ($450 million) in fiscal 2025, representing 11% of shares outstanding. With $850 million remaining on its repurchase authorization and another ~$450 million targeted in fiscal 2026, shrinking share count mechanically lifts per-share earnings over time. Global store expansion and digital investment: Management plans ~30 net new store openings and 70 remodels in fiscal 2026, while digital already represents 44% of total sales. International momentum is building, with EMEA up 8% and APAC up 9% in Q4, broadening the geographic base for long-term compounding. What Will It Take for ANF to Reach $108? With approximately 45.86 million shares outstanding, a $108 price implies a market capitalization approaching $5 billion, compared to today’s ~$4.06 billion. Three conditions matter most: the Abercrombie brand must sustain its return to growth through 2026, management must deliver on its EPS guidance of $10.20 to $11.00, and tariff headwinds must remain contained at the guided ~70 basis points net impact rather than escalating further. The primary risk is tariff uncertainty: the company has flagged approximately $90 million in tariff expense for fiscal 2026, and any policy shift beyond the assumed 15% rate could pressure margins further. With a fortress balance sheet carrying $759.5 million in cash, three straight years of double-digit operating margins, and a buyback program that consistently returns capital to shareholders, Needham’s $108 target reflects a credible path for patient, long-term investors. The post Abercrombie & Fitch Could Surge to $108 — Wall Street Analyst Says the Risk/Reward Is Too Good to Ignore appeared first on 24/7 Wall St..]]> Stock Market Live August 27: S&P 500 (VOO) Flat As Investors Await Nvidia News Wed, 27 Aug 2025 13:27:19 +0000 ... Stock Market Live August 27: S&P 500 (VOO) Flat As Investors Await Nvidia News]]> The post Stock Market Live August 27: S&P 500 (VOO) Flat As Investors Await Nvidia News appeared first on 24/7 Wall St.. Live Updates Don't wait: the analyst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now. Wednesday Wrap-up Aug 27, 2025 at 4:16 PM EDT The Vanguard S&P 500 ETF closed at 594.40 Wednesday, up 0.2%. Less Hate for Lilly Aug 27, 2025 at 11:50 AM EDT HSBC analyst Rajesh Kumar removed his reduce recommendation and upgraded S&P 500 component company Eli Lilly (NYSE: LLY) stock to hold with a $700 price target today. “Orforglipron’s ATTAIN-2 Phase 3 trial in diabesity appears to offer a clear commercial path for filing and commercialisation,” opines the analyst. Lilly stock is up 0.2% on the news — and so is the Voo. Less Love for Lulu Aug 27, 2025 at 10:46 AM EDT BTIG analyst Janine Stichter lowered her price target on buy-rated Lululemon Athletica (Nasdaq: LULU) to $375 ahead of earnings on September 4. “While there is potential for the full-year to be revised downward on higher tariffs and sluggish US performance,” says Stichter, “we note many estimates are already below guidance.” Lulu seems to be setting investors up for disappointment, but the stock is up almost 2% on Stichter’s still-high price target. Norwegian Cruise Floats Higher Aug 27, 2025 at 10:09 AM EDT Tigress Financial Partners analyst Ivan Feinseth raised his price target on Norwegian Cruise Line Holdings (NYSE: NCLH) to $38 today, with a strong buy rating. “NCLH continues to benefit from strong cruise demand combined with operational improvements and increasing margins as it leverages pricing power, fleet upgrades, and strategic expansion to drive future growth,” says Feinseth. And “NCLH’s accelerating cash flow growth continues to drive the ongoing funding of its fleet expansion and upgrades, private island development, growth initiatives, and balance sheet optimization.” Norwegian Cruise stock is up 0.4%, and the Voo is in the green again, too — up 0.1%. This article will be updated throughout the day, so check back often for more daily updates. The Vanguard S&P 500 ETF (NYSEMKT: VOO) is up less than 0.1% as investors pause to consider whether Nvidia (Nasdaq: NVDA) might beat or miss earnings this evening. In tariffs news, the second 25% tranche of President Trump’s threatened 50% (total) tariff on Indian exports to the U.S. goes into effect today. Levied initially to discourage India from buying Russian oil, the tariff briefly convinced some Indian refiners to pause oil purchases. But according to Bloomberg reports, these imports have resumed — and so the tariffs are on. And now, on to earnings. Earnings S&P component company JM Smucker (NYSE: SJM) reported a fiscal Q1 2026 profit of $1.90 per share this morning, on $2.11 billion in revenue. Both earnings and revenue were exactly what Wall Street expected, but Smucker guided for weaker than expected full year fiscal 2026 earnings — and now it’s stock is down 7% premarket. Fellow S&P component Williams-Sonoma (NYSE: WSM) reported a Q2 profit of $2, 22 cents better than analysts expected. Revenue of $1.84 billion edged past analyst expectations, and Williams-Sonoma guided higher citing “higher net revenue trends.” Same store sales could rise 2% to 5% this year and total sales growth should be 0.5% to 3.5%. Williams-Sonoma stock is up nearly 3% in response. Abercrombie & Fitch (NYSE: ANF) reported fiscal Q2 2026 earnings of $2.32, a nickel better than expected. Revenue was also better than expected at $1.2 billion, but guidance looks a bit weak at $10 to $10.50 for fiscal 2026. Abercrombie stock is down 8% in consequence. The post Stock Market Live August 27: S&P 500 (VOO) Flat As Investors Await Nvidia News appeared first on 24/7 Wall St..]]> Stock Market Live May 28: S&P 500 (VOO) Set to Open Higher Wed, 28 May 2025 13:21:01 +0000 ... Stock Market Live May 28: S&P 500 (VOO) Set to Open Higher]]> The post Stock Market Live May 28: S&P 500 (VOO) Set to Open Higher appeared first on 24/7 Wall St.. Live Updates Don't wait: the analyst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now. What Went Up (Yesterday) Came Back Down (Today) May 28, 2025 at 4:03 PM EDT After surging 2% in Tuesday trading, the Vanguard S&P 500 ETF closed at 540.20 Wednesday, down 0.6%. Nvidia on Deck May 28, 2025 at 1:24 PM EDT With under three hours remaining until market close, investor eyes are turning to Nvidia (Nasdaq: NVDA), which will report Q1 earnings after close of trading. Analysts are looking for the S&P 500 component company to report $0.75 per share in earnings on $43.25 billion in revenue. The Voo is currently down 0.1%. Little Analyst Love for AES Stock May 28, 2025 at 11:56 AM EDT Utility company and S&P 500 component AES Corporation (NYSE: AES) is down 3.9% as another analyst weighs in on the stock. Seaport Research has raised its price target 67% to $5 a share, which sounds like good news. The bad news? AES stock actually costs closer to $10, so a $5 price target is still pretty pessimistic. Accordingly, Seaport is maintaining its sell rating on AES stock. Autozone is in the Zone May 28, 2025 at 11:10 AM EDT Guggenheim this morning raised its price target on S&P 500 component company AutoZone (NYSE: AZO) to $4,100, seeing sequential improvement in both domestic retail and domestic commercial same store sales. “The return of more favorable ticket-related dynamics should help to amplify the company’s out-year secular growth potential,” said the analyst. Significant VOO holdings with Wall Street recommendations May 28, 2025 at 9:42 AM EDT Broadcom Inc. (AVGO) – Coverage initiated by Redburn Atlantic with a $301 “Buy: rating. Will see movement with NVIDIA earnings today. Arista Networks Inc. (ANET) –Redburn Atlantic also initiated coverage with a $112 outperform rating. Marvell Technology Inc. (MRVL) – Neutral rating from Redburn with a $67 price target. This article will be updated throughout the day, so check back often for more daily updates. Never underestimate the power of low expectations. President Trump spooked investors last week when he threatened to impose a 50% tariff on imports from the European Union — then elated investors on Tuesday when he postponed imposition of the tariff. Confusing things further, the President told investors Friday that he was “not looking for a deal” with the recalcitrant EU, only to turn around Tuesday and say, no, in fact, he actually is planning to “quickly establish meeting dates” to discuss lowering tariff barriers and “open up the European Nations for Trade with the United States of America.” The stock market roared ahead, with the Vanguard S&P 500 ETF (NYSEMKT: VOO) gaining 2%. Today, the market looks to extend those gains as the Voo trades about 0.1% higher pre-market. It remains to be seen what new rabbits the President might pull out of his hat today. Meanwhile, investor focus may be switching to earnings… Earnings Abercrombie & Fitch (NYSE: ANF) leads off earnings reports today, announcing it has beaten expectations with $1.59 per share earned in Q1, $0.20 better than expected. The stock is up more than 28% pre-market. Macy’s (NYSE: M) reported a smaller earnings beat, $0.16 per share in Q1, where analysts expected only $0.15. Macy’s stock is up almost 2%. The bad news: Both companies cut guidance after reporting their beats. Abercrombie says Q2 earnings will fall below consensus and range between $2.10 per share and $2.30. Full year earnings will probably also miss the mark, ranging from $9.50 to $10.50. Macy’s warned that Q2 earnings could be as little as half the $0.33 Wall Street is expecting. For the full year, the company set a range from $1.60 to $2, well short of analyst forecasts. Neither company is an S&P 500 component. That doesn’t mean their weak guidance won’t end up weighing on the index today. Analyst Calls In analyst action this morning, Baird just upgraded credit rater and S&P 500 component Fair Isaac Corporation (NYSE: FICO) to outperform with a $1,900 price target. Despite regulatory concerns, Baird declared: “We consider FICO Scores the best financial model we’ve seen,” and probably a product the market cannot do without. The post Stock Market Live May 28: S&P 500 (VOO) Set to Open Higher appeared first on 24/7 Wall St..]]> Abercrombie & Fitch Just Blew Out Earnings and is Up 153% Over the Past Year: Is it a Buy? Thu, 29 Aug 2024 14:41:20 +0000 ... Abercrombie & Fitch Just Blew Out Earnings and is Up 153% Over the Past Year: Is it a Buy?]]> The post Abercrombie & Fitch Just Blew Out Earnings and is Up 153% Over the Past Year: Is it a Buy? appeared first on 24/7 Wall St..Abercrombie & Fitch (NYSE:ANF) raised its annual sales forecast after exceeding Q2 revenue expectations. However, shares of ANF stock fell 17% in today’s session as investors anticipated a larger guidance increase. Despite an 89% stock surge this year, market analysts found the company’s sales outlook impressive, given the challenging retail environment. The company’s success was driven by revamping its merchandise, including dressier apparel and cargo pants, attracting fashion-conscious shoppers. While other retailers, like Macy’s and Home Depot, lowered their sales forecasts due to weak demand, Target and Walmart saw strong results as consumers sought budget-friendly options. Need to Know News: Abercrombie & Fitch raised its full-year sales forecast after a 21% Q2 revenue increase, with record sales and improved profitability. Despite strong results, ANF stock dropped 17% as investors expected a bigger guidance increase, questioning sustained growth at current valuations. If you’re looking for AI stocks that could benefit from the coming ‘supercycle’ described in this article, you absolutely need to grab a copy of our brand-new “The Next NVIDIA” report. It features a “moonshot” software stock with 10X potential, a stock with a monopoly in an essential technology NVIDIA relies on, and much more. With a shifting market and consumer environment, it all boils down to one question for Abercrombie & Fitch: is the stock a buy? Let’s Look At Its Strong Sales An analyst giving a presentation on revenue growth Abercrombie & Fitch credited its strong brand portfolio for achieving a record second-quarter sales of $1.1 billion, a 21% increase from the same quarter the year prior. The retailer’s success followed record first-quarter results, driven by fewer promotions and clearer brand identities. CFO Scott Lipesky reported that second-quarter marketing spend aligned with expectations, totaling about 4.5% of sales, slightly down from the first quarter’s 5%. Abercrombie’s net income for the quarter ending August 3 rose to $133.2 million from $56.9 million the previous year, surpassing analyst expectations of $2.22 per share. Operating income increased to $176 million from $90 million last year. Additionally, net sales grew 21% to $1.134 billion, exceeding estimates. Abercrombie’s sales, including Abercrombie Kids, surged 26%, while Hollister and Gilly Hicks saw a 17% rise. The company’s Americas region’s net sales grew by 23%, and the EMEA division saw a 16% increase, with overall comparable sales up 18%. CEO Fran Horowitz reported strong second-quarter performance, with better-than-expected sales growth and profitability. The company achieved a 15.5% operating margin and record operating income of $176 million. Despite economic uncertainty, Abercrombie raised its full-year outlook, now expecting 12% to 13% net sales growth, up from 10%, and an operating margin between 14% and 15%. Horowitz emphasized the company’s commitment to disciplined execution, focusing on inventory, expenses, and long-term investments in marketing, digital, technology, and stores to support sustainable, profitable growth. Post-Earnings Plunge Painting of the Titanic sinking Abercrombie & Fitch’s stock is still up considerably over the past year, surging more than 150% (inclusive of Wednesday’s drop). However, a drop of roughly 20% at today’s lows suggests that many had expected to see even rosier numbers reported, with a forward outlook that came close to the previous growth the company has seen. Few can contest that Abercrombie’s management team is taking a measured approach to its recent success. This market is one that’s becoming more fragile, with cracks appearing within certain consumer groups. And while the company did put forward low-double-digit sales growth expectations for the third quarter, sometimes great isn’t good enough for some investors. Wednesday’s decline marked Abercrombie’s largest daily decline in two years. Analysts attributed the drop to investor expectations, considering the retailer’s recent outperformance and raise bar of expectations. Now trading at 16.7-times forward earnings, above the retail sector’s average of 14 times, some may also view the stock as expensive. This high valuation is the result of the market setting lofty expectations, making it difficult for the company to meet the whisper numbers on the Street. ANF Stock Still Looks Like a Buy A wooden figurine of a man walking up wooden block steps William Blair analyst Dylan Carden warned that Abercrombie could face margin pressure if sales growth normalizes, with rising costs and competitive pricing potentially impacting margins. Despite this, Dana Telsey from Telsey Advisory Group views the company’s performance positively, noting that a beat and raise is impressive given the broader retail challenges. She rates Abercrombie as Outperform with a $208 target. Moreover, other analysts remain positive with respect to Abercrombie’s recent report. Jefferies’ Corey Tarlowe rated the stock a Buy with a $215 target, while CFRA upgraded it from Hold to Buy, raising the target to $198. CFRA’s revised outlook reflects confidence in Abercrombie’s strong brand momentum and digital marketing success, with a forward price-earnings ratio of 17.2-times. The company’s robust balance sheet also positions it well for potential share repurchases. Following CFRA’s upgrade, Abercrombie & Fitch displayed a strong outlook with notable growth. Revenue increased 20.01% year-over-year to $4.47 billion, and quarterly revenue rose 22.1% in Q1 2023. The company also achieved a high gross profit margin of 64.07%. These factors should provide investors with enough reason to buy ANF stock, or at least hold steady, following this report. The post Abercrombie & Fitch Just Blew Out Earnings and is Up 153% Over the Past Year: Is it a Buy? appeared first on 24/7 Wall St..]]> Up 175% This Year, Will Abercrombie & Fitch (ANF) Continue Its Hot Streak Wed, 28 Aug 2024 16:30:02 +0000 ... Up 175% This Year, Will Abercrombie & Fitch (ANF) Continue Its Hot Streak]]> The post Up 175% This Year, Will Abercrombie & Fitch (ANF) Continue Its Hot Streak appeared first on 24/7 Wall St..While most of the market commentary over the past few years has been lauding technology stock, particularly NVIDIA (NASDAQ: NVDA) and AI stocks, Abercrombie & Fitch (NYSE:ANF) have quietly minted a fortune for shareholders. Over the past 5 years, Abercrombie & Fitch is up 736% (and 175% the past year alone) as management continues to grow year-over-year sales in addition to creating a culture of financial disciple and stretching operating margins upwards of 15%. Looking forward to future quarters, will Abercrombie & Fitch continue to reward shareholders or has the stock reached it’s peak? Lets look at the recent quarterly earnings call to pick out what management had to say. ANF 2025 Outlook “After our historic success in the first half, our teams are energized and we’ve entered the second half ready to deliver for our global customers. I am thrilled with our start to August and we are raising our full-year sales growth and profitability expectations.” – Fran Horowitz, CEO and Director Abercrombie tipped off analysts that the company will be increasing full year sales, with net sales growth coming in higher than 2023. Operationally, the company will also be at the top of its range, with operating margins beating 2023. However, there are a few reasons investors have reason for concern. “We continue to further strengthen all aspects of the customer journey, developing a consistent, enduring business that can grow and succeed even in these dynamic and often uncertain times.” -Fran Horowitz, CEO and Director Fran Horowtiz has ANF in a great financial position, but is bracing for an uncertain economy in the coming quarters and tips investors that there could be hiccups as the company navigates economic uncertainties. In addition to external factors, Abercrombie will also have some freight pressure in the near term: “We expect the gross profit rate to be consistent with 2023 now that we are through the majority of the cotton benefit and we expect to see year-over-year freight pressure in the quarter.” – Scott Lipesky, Executive VP and COO & CFO Complete ANF Transcripts Call for the 2nd Quarter, 2024 Operator: Good day, and thank you for standing by. Welcome to the Abercrombie & Fitch Second Quarter 2024 Earnings Conference Call. [Operator Instructions] Please be advised, today’s conference is being recorded. I would now like to turn the conference over to your speaker today, Mo Gupta. Please go ahead. Mohit Gupta: Thank you. Good morning, and welcome to our Second Quarter 2024 Earnings Call. Joining me today on the call are Fran Horowitz, Chief Executive Officer; and Scott Lipesky, Chief Financial Officer and Chief Operating Officer. Earlier this morning, we issued our second quarter earnings release, which is available on our website at corporate.abercrombie.com under the Investors section. Also available on our site is an investor presentation. Please keep in mind that we will make certain forward-looking statements on the call. These statements are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause actual results to differ materially from the expectations and assumptions we mentioned today. These factors and uncertainties are discussed in our reports and filings with the Securities and Exchange Commission. In addition, we’ll be referring to certain non-GAAP financial measures during the call. Additional details and reconciliations of GAAP to adjusted non-GAAP financial measures are included in the release and the investor presentation issued earlier this morning. Finally, references to Abercrombie brands include our Abercrombie & Fitch and abercrombie kids brands, and references to Hollister brands include our Hollister and Gilly Hicks brands. With that, I will turn the call over to Fran. Fran Horowitz: Thanks, Mo, and thank you all for joining us this morning. I am incredibly proud to report our financial results exceeded the expectations we provided in May and set second quarter company records for both net sales and operating profit. We delivered strong second quarter net sales growth of 21%, reaching $1.1 billion with an operating margin of 15.5%. We achieved these outstanding results while also funding long-term growth priorities across regions and brands. After our historic success in the first half, our teams are energized, and we’ve entered the second half ready to deliver for our global customers. I am thrilled with our start to August, and we are raising our full year sales growth and profitability expectations. For more context, in 2024, we’ve set out to demonstrate sustainable profitable growth on top of the defining fiscal year results in 2023. I’m so proud of how we’re showing up for our customer, and we are clearly seeing respond. In addition to record second quarter sales, this was our seventh consecutive quarter of net sales growth in a dynamic, often uncertain consumer environment, which underlies the strength of our brands, our team and our playbook. We work every day to satisfy new and returning customers’ needs across product, voice and experience. I believe our global brand portfolio is as strong as it’s ever been. Combined with an agile, modern supply chain and a culture of financial discipline, we believe we have all the pieces in place to deliver on our goals across a variety of macro environments. Sharing a bit detail on Q2, I want to call out a consistent theme we’ve demonstrated over the last 5 quarters. We are delivering strong time results while also maintaining balance in how we’re growing. Our second quarter sales growth was broad-based, fueled by expansion across regions, brands and genders. We also saw growth in both units and AUR consistent with the past 5 quarters. There’s balance in our product, too, with growth across key categories as our teams are delivering lifestyle assortments with increasing relevance to our local customers. On the gross profit line, we saw 240 basis points of rate expansion compared to last year. This was driven by higher AUR and improved product costs, partially offset by higher freight costs. We also delivered operating leverage in the quarter while funding important marketing, digital, technology and people investments to support our long-term aspirations. All this great work led to operating income of $176 million for the quarter, nearly double the second quarter results from the prior year. Continuing the theme of balance. We delivered growth across regions in the second quarter. The Americas continued to lead the way with 23% net sales growth, consistent with the first quarter. The Americas grew across markets with nice increases in traffic across direct selling channels. In EMEA, putting aside a pandemic-related sales rebound in early 2022, we demonstrated growth on growth for the first time in over 10 years, delivering 16% growth on top of 4% in the second quarter of 2023. Customers in both the U.K. and Germany continue to respond to the localized assortments, and we’re engaging with them to increase marketing and brand presence. Finally, APAC grew 3% in the quarter on comparable sales growth 21%, where we continue to be led by our focused markets of China and Japan as we engage that customer in new and different ways. We are energized to see the progress we’ve made to localize our playbook across regions this quarter, but we know there’s more runway ahead of us. On to the brands. Abercrombie brands had another outstanding quarter with net sales growth of 26% on top of 26% growth in the second quarter of 2023. Balanced growth continued in men’s and women’s and across categories with seasonal shorts, swims, skirts and dresses performing well. We also saw balanced growth in both AUR and units as well as new and existing customers. As a follow-up to our highlights

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Bank Of America Corp (BAC) Stock News & Articles - 24/7 Wall St. Insightful Analysis and Commentary for U.S. and Global Equity Investors Wed, 22 Jul 2026 17:24:19 +0000 en-US hourly 1 A 15% “Dividend” ETF With Berkshire Stocks? Read This Before You Buy a Single Share Wed, 22 Jul 2026 17:35:33 +0000 The post Why Is Buffett Back On TV As Berkshire Shares Fall? appeared first on 24/7 Wall St..Warren Buffett is back on TV, and on CNBC, to be specific. As he left, he would be “going quiet.” As chairman of Berkshire Hathaway (NYSE: BRK-B), he added, “I enjoy the chance to keep in touch with you.” The person to “keep in touch” with is supposed to be the new CEO, Greg Abel. Abel has run Berkshire this year, and it has gone through an ugly sell-off. It is down 3% this year while the S&P 500 is up 10%. Over the last five years, both have increased by about 75%. That advance worked even though Berkshire’s investments have not been heavily weighted toward mega-cap tech stocks. Buffett made the point that he had pushed into the sector; however, Yesterday, he made the point very clearly that he decided to buy shares of Alphabet (NASDAQ: GOOG). The Alphabet investment began late last year, and Berkshire then invested $10 billion in a private placement to fund the expansion of the search company’s AI infrastructure. Buffett did tip his cap to Abel by less than a modest amount. “I am not doing anything that he doesn’t approve of. He’s not doing anything I don’t approve of. We talk all the time, but he is the decider,” he told the TV network. Behind the scenes, Buffett can’t be happy. Berkshire has been the tool of his decades-long success. Besides private holdings, it has been built on holdings in Bank of America (NYSE: BAC), Coca-Cola (NYSE: KO), Chevron, and American Express. He has had particular success with Occidental Petroleum (NYSE: OXY), which he began buying in 2019. He had a “walk-off” home run with Apple (NASDAQ: AAPL). On CNBC, he discussed the strength of Apple’s leadership. He also expressed worry about the amount of money tech companies are spending on AI. It is in the early days for Abel. He cannot like, however, Buffett showing up on CNBC dressed like Mr. Rogers. Mr. Rogers often reminded people that his show was his “neighborhood.” Mr. Rogers’ favorite song ended: “Would you be mine? Could you be mine? Won’t you be my neighbor?” The post Why Is Buffett Back On TV As Berkshire Shares Fall? appeared first on 24/7 Wall St..]]> Jefferies Bullish on 4 Dividend-Paying Money Center Bank Giants After Huge Q2 Earnings Results Thu, 16 Jul 2026 13:41:00 +0000 The post Jefferies Bullish on 4 Dividend-Paying Money Center Bank Giants After Huge Q2 Earnings Results appeared first on 24/7 Wall St..As always, the quarterly earnings were kicked off by the major large-cap money center banks, and as expected they all delivered solid earnings reports. The team at Jefferies remains very positive on the four top companies that beat earnings expectations and, most importantly, provided reassuring forward guidance. Net interest income, or NII, across all banks was impressive, and with the debate over where interest rates will be as we move through the rest of 2026 remaining a wild card for all the financial giants, the second half of the year could prove interesting. The Jefferies team had this to say when discussing the results: We’re out with our thoughts following large-cap bank earnings. We highlight that results were largely positive, with all four banks beating Earnings Per Share and Pre-Provision Net Revenue expectations. Loan growth came in modestly above expectations, while deposit trends were generally stable. NII growth remained healthy, supported by strong balance sheet momentum, deposit growth, and fixed-rate asset repricing. Fee income remained constructive, benefiting from strength in payments, treasury services, securities services, wealth management, and transaction banking. Meanwhile, capital markets were a standout performer, driven by robust trading activity, improving investment banking fees, and healthy client engagement. Here are the four dividend-paying financial giants that Jefferies rates as Buy. Bank of America Warren Buffett has trimmed his position over the past two years and sold a 50 million shares in the fourth quarter. This quality financial giant remains an exceptional long-term holding with a solid 1.89% dividend yield. Bank of America (NYSE:BAC) is a bank holding company that reported impressive Q2 results. Berkshire Hathaway owns 513,624,165 shares, which is 7.9% of the portfolio and 7.2% of the float. Berkshire did lower its Bank of America position in Q1 2026, but only modestly. According to the Q1 2026 13F filing, it was reduced by just 0.71%, a very small cut compared to other positions. The Jefferies analyst noted this: Bank of America delivered a strong quarter, with core EPS and Pre-Provision Net Revenue ahead of expectations, driven primarily by strength in investment banking and sales & trading. While NII was largely in line, management reiterated growth at the upper end of 6-8% and raised FY26 operating leverage guide to 300-400 bp from >200 bp previously following 2Q’s POL of 640 bp. The return on tangible common equity of 17.0% vs our 16.1% reinforces the earnings power of the franchise. Its segments include: Consumer Banking, which offers a range of credit, banking, and investment products and services to consumers and small businesses. Global Wealth & Investment Management (GWIM) comprises two businesses: Merrill Wealth Management, which offers tailored solutions to meet clients’ needs through a comprehensive suite of investment management, brokerage, banking, and retirement products. Bank of America Private Bank provides comprehensive wealth management solutions. Global Banking offers a range of lending-related products and services, including integrated working capital management and treasury solutions, as well as underwriting and advisory services. Global Markets offers sales and trading services, as well as research services, to institutional clients across fixed income, credit, currency, commodity, and equity markets. The Jefferies price target is $75. Citigroup This money-center giant pays a solid 1.64% and could be poised to deliver continued upside. Citigroup (NYSE:C) is a global diversified financial services holding company. The Jefferies team had this to say when discussing the second-quarter results: Citi delivered a strong quarter, with core earnings per share and pre-provision net revenue ahead of expectations, driven by stronger-than-expected NII, Markets, and Investment Bank results. Still, the expense outlook was worse than expected, as the return on tangible common equity guide for FY26 was reiterated at 10-11% despite 1H’26 ROTCE trending at 13%. Revenue outperformance could be offset by $5 billion of spending pulled forward that was originally planned for ’27/’28 related to US Card, growth, and productivity initiatives. The company’s segments include: Services Markets Banking Wealth U.S. Personal Banking (USPB) The Services segment includes Treasury and Trade Solutions (TTS) and securities services. TTS provides an integrated suite of tailored cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations. The Markets segment provides corporate, institutional, and public-sector clients worldwide with a full range of sales and trading services across equities, foreign exchange, rates, spread products, and commodities. The Banking segment includes investment banking, which supports client capital-raising needs to help strengthen and grow their businesses. The Wealth segment includes Private Bank, Wealth at Work, and Citigold, and provides financial services to a range of client segments. The USPB segment includes branded cards and retail services. Jefferies has a $165 target price for the shares. Goldman Sachs The white-glove banking giant delivered exceptional results and pays a 1.47% dividend. Goldman Sachs (NYSE:GS) is a global financial institution that delivers a range of financial services to a large and diversified client base, including corporations, financial institutions, governments, and individuals. The Jefferies team said this: Following 2Q26 results, our EPS estimates for the second half of 2026 and FY2027 increase by 9% and 8%, respectively, following a record 1H26 in both markets and advisory. Record equities revenues, all-time-high prime balances, accelerating large-cap M&A, and a five-year-high backlog provide strong support for continued earnings momentum. Its segments include: Global Banking & Markets Asset & Wealth Management Platform Solutions The Global Banking & Markets segment offers a range of services, including financing, advisory services, risk distribution, and hedging for its institutional and corporate clients. It facilitates client transactions and makes markets in fixed income, equity, currency, and commodity products. The Asset & Wealth Management segment manages assets and offers investment products across all asset classes to a diverse client base. It also provides investment and wealth advisory solutions. The Platform Solutions segment includes consumer platforms, such as partnerships offering credit cards and point-of-sale financing, as well as transaction banking and other platform businesses. Jefferies has set a price target of $1,299 for the shares. Wells Fargo With some difficult years in the rearview mirror, this bank could be one of the best values in the financial sector, and pays a 2.11% dividend. Wells Fargo (NYSE:WFC) is a financial services company. The company provides a diversified set of banking, investment, and mortgage products and services, as well as consumer and commercial finance, to individuals, businesses, and institutions. Jefferies analysts noted this: WFC posted a headline beat on strong fee income and continued expense discipline, and reiterated its FY26 NII and expense guidance. Despite a solid quarter, shares traded lower amid a net interest margin outlook that fell short of expectations and rising deposit costs. NIM compressed as expected, down 4 bp, in line with the guide, but better-than-expected AEA growth drove a modest NII beat. IB deposit costs rose 9 bps Q/Q, with continued pressure expected in 2H’26 as IB outpaces NIB growth. Wells Fargo operates through four segments: Consumer Banking and Lending Commercial Banking Corporate and Investment Banking Wealth & Investment Management The company provides consumer financial products and services, including checking and savings accounts, credit and debit cards, and auto, residential mortgage, and small business lending. In addition, the company offers financial planning, private banking, investment management, and fiduciary services. It also provides financial solutions to businesses through products and services, including traditional commercial loans and lines of credit, letters of credit, asset-based lending and leasing, trade financing, treasury management, and investment banking services. The Jefferies target price is $100. The post Jefferies Bullish on 4 Dividend-Paying Money Center Bank Giants After Huge Q2 Earnings Results appeared first on 24/7 Wall St..]]> Citigroup Is Up 14% This Year: Is It Outperforming Other Bank Stocks Like Wells Fargo and Bank of America? Tue, 14 Jul 2026 19:18:53 +0000 The post Citigroup Is Up 14% This Year: Is It Outperforming Other Bank Stocks Like Wells Fargo and Bank of America? appeared first on 24/7 Wall St.. Citigroup (C) fell 5.84% to $132.50 Tuesday after Q2 earnings beat: $3.15 EPS vs. $2.74 expected, $24.8B revenue (highest in decade), triggering sell-the-news reversal. Citigroup trades at 16x P/E, richest of big three banks, limiting upside; leadership position requires flawless execution amid tight AI-trading and dealmaking margins. Bank of America (BAC) shares rose 1.29% to $60.27 after strong Q2 with $1.21 EPS; Global Markets revenue jumped 34% on 70% equity trading surge and 50% investment banking growth. Wells Fargo (WFC) dropped 3.82% to $84.76 despite $2.00 EPS beat and 35% investment banking gains; CFO's cautious capital tone weighed on sentiment despite 13x P/E valuation. Citigroup (NYSE:C) stock is down 4.7% to $134 Tuesday afternoon, a sharp sell-the-news reversal after the bank beat every analyst estimate for the second quarter. Citigroup shares had traded higher earlier in the session before turning red. Zoom out, though, and Citigroup stock is still the clear year-to-date leader of the big three. Citigroup stock is up 13.75% in 2026, ahead of Bank of America (NYSE:BAC) stock at up 9.34% and Wells Fargo (NYSE:WFC) stock at down 8.82%. All three banks reported strong Q2 2026 results powered by an AI-driven trading and dealmaking boom. Yet, the reaction across the group is mixed to negative, with Wells Fargo stock down 3.32% to $84.76 and Bank of America shares up only 1.29% to $60.27 after touching a record high earlier. Citigroup Delivers a Blowout, Stock Reverses Anyway Citigroup posted Q2 2026 earnings of $3.15 per share on $24.8 billion in revenue, marking the company’s highest revenue in a decade. The Street had expected about $2.74 in earnings per share, and record equity-trading revenue drove the upside. Citigroup’s management paired the report with capital-return firepower, announcing a $30 billion buyback and a 12% dividend increase. That builds on the earlier hike from $0.56 to $0.60 per quarter that Citigroup pushed through last year. The bear case that took over on Tuesday afternoon is straightforward. Citigroup’s CFO acknowledged that its equities franchise still trails larger rivals, and Citigroup stock now trades at a 16x P/E ratio. That’s the richest multiple of the three, which sets a higher bar even after a genuine beat. Bank of America and Wells Fargo Also Beat, With Different Reactions Bank of America reported EPS of $1.21 on revenue of $31.6 billion, its fifth consecutive quarterly EPS beat. The company’s Global Markets revenue jumped 34% to $8.02 billion, with equities sales and trading up 70% and investment banking fees up 50%. CEO Brian Moynihan called it “one of our strongest quarters to date” and struck an upbeat tone on financing the AI buildout. Bank of America stock trades at a 15x P/E ratio, cheaper than Citigroup but richer than Wells Fargo. Wells Fargo, meanwhile, posted EPS of $2, with investment banking fees up 35% and return on tangible common equity of 17.7%. The bank also announced a buyback and a planned dividend raise, but CEO Charlie Scharf’s “carefully deploying capital” tone weighed on Wells Fargo shares. Wells Fargo stock trades at a 13x P/E ratio, the cheapest of the group. So Is Citigroup Actually Outperforming? The short answer is yes, at least on the year-to-date scoreboard. Citigroup’s 13.75% run tops Bank of America and doubles down on the turnaround story CEO Jane Fraser has been selling, with 65.9% gains over the past year backing it up. The nuance is that Citigroup carries the richest valuation and the smallest markets franchise of the three, so any wobble in trading or dealmaking hits harder. Tuesday’s reversal is a reminder that leadership at the top of a rally leaves less margin for error, and investors should consider sizing their positions accordingly. For readers who prefer a broader lens, the Financial Select Sector SPDR ETF (NYSEARCA:XLF) offers diversified exposure to the big banks and the wider financials complex in one fund. That can smooth out days like this one, when three earnings beats produced three different market reactions. What to Watch Next The immediate cue is whether Citigroup stock can stabilize into Tuesday’s close after giving back ground from an earlier intraday high. Follow-through from the $8 billion in Bank of America capital returns and Wells Fargo’s guidance on its dividend plan could set the tone for the rest of bank earnings week. Keep an eye on how the group trades over the next few sessions. If Citigroup holds most of its year-to-date lead through the JPMorgan Chase (NYSE:JPM) and regional bank earnings reports later this week, the outperformance thesis could remain intact even after a rough Tuesday. The post Citigroup Is Up 14% This Year: Is It Outperforming Other Bank Stocks Like Wells Fargo and Bank of America? appeared first on 24/7 Wall St..]]> Senior Analyst: Banks Are Set for 25% Earnings Growth as the Capital Markets Boom Accelerates Mon, 13 Jul 2026 23:58:24 +0000 The post Senior Analyst: Banks Are Set for 25% Earnings Growth as the Capital Markets Boom Accelerates appeared first on 24/7 Wall St.. Citizens Senior Analyst Devin Ryan expects 25% YoY earnings growth for top six banks, with GS and MS positioned for ~40% growth from capital markets revival. GS Q1 revenue: $17.23B (IB fees +48% to $2.84B); MS: $20.58B record revenue (advisory +74%), validating capital markets tailwind. Prediction markets show 93.9% probability Goldman beats consensus and 98.2% chance Q2 investment banking fees exceed $2.1 billion. Devin Ryan, Senior Research Analyst at Citizens, laid out a bullish setup for big banks on Monday’s CNBC segment ahead of Q2 earnings. He said: “Tomorrow is going to be, I think, a really good day to kick things off for the top six banks. We’re looking for about 25% year-over-year earnings growth.” With Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Wells Fargo all reporting before the open on Tuesday, July 14, and Morgan Stanley following on Wednesday, July 15, the setup is concentrated and driven by the revival of capital markets along with commercial lending. Goldman Sachs and Morgan Stanley Could Lead the Bank Earnings Boom Ryan’s core call is that the biggest upside among the big banks could sit with the most capital-markets-levered franchises. “The companies that are going to do the best are probably the ones more exposed to capital markets. So SpaceX IPO, M&A announcements are up 50% year-to-date through the first half. And so Goldman Sachs, Morgan Stanley probably going to be standouts. We’re looking for almost 40% earnings growth out of both of those.” Goldman Sachs Is Built for the Capital Markets Revival Q1 2026 validated the direction. Goldman Sachs (NYSE:GS) posted EPS of $17.55 on $17.23 billion in revenue, with investment banking fees of $2.84 billion up 48% and advisory revenues nearly doubling at $1.49 billion, up 89%. CEO David Solomon said, “Goldman Sachs delivered very strong performance for our shareholders this quarter, even as market conditions became more volatile” in the firm’s Q1 release. Morgan Stanley Enters Earnings With Record Momentum Morgan Stanley (NYSE:MS) delivered its own record. Ted Pick’s team reported $20.58 billion in revenue, EPS of $3.43, ROTCE of 27.1%, and advisory revenue up 74% to $978 million. Ryan’s near 40% earnings growth expectation follows Q1 net income growth of 29%. Wall Street’s Rebound Is Lifting America’s Biggest Banks Ryan sees the capital markets tailwind lifting the rest of the group. JPMorgan Chase (NYSE:JPM) opened 2026 with EPS of $5.94, up 17%, record Markets revenue of $11.6 billion, and advisory fees up 82% to $1.27 billion. Jamie Dimon flagged “increased fiscal stimulus, the benefits of deregulation, AI-driven capital investment and the Fed’s asset purchases” as tailwinds. Bank of America (NYSE:BAC) grew EPS 25% year-over-year to $1.11, with equities trading up 30% and investment banking fees up 21%. Citigroup (NYSE:C) delivered net income up 42% and Markets revenue crossing $7 billion for the first time, with equity markets up 39%. Wells Fargo grew EPS 15%, with CIB Markets up 19% and equity capital markets share expanding. The Next Banking Opportunity May Be Hiding Outside the Mega Banks Capital markets stocks were up nearly 50% last year and up 20% in 2026 to date, with the S&P 500 up 15% in the second quarter. Goldman shares are up 21.19% year-to-date, and Morgan Stanley is up 26.55%. Ryan’s cautious because: “We think a lot is actually baked in. And so we’re looking for areas where there’s probably more upside. We still think there’s areas of capital markets like middle market sponsors. Private equity still have quite a way to recover.” On commercial lending re-acceleration, he pointed to two forces.

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Citigroup Inc (C) Stock News & Articles - 24/7 Wall St. Insightful Analysis and Commentary for U.S. and Global Equity Investors Thu, 16 Jul 2026 10:37:31 +0000 en-US hourly 1 Jefferies Bullish on 4 Dividend-Paying Money Center Bank Giants After Huge Q2 Earnings Results Thu, 16 Jul 2026 13:41:00 +0000 The post Jefferies Bullish on 4 Dividend-Paying Money Center Bank Giants After Huge Q2 Earnings Results appeared first on 24/7 Wall St..As always, the quarterly earnings were kicked off by the major large-cap money center banks, and as expected they all delivered solid earnings reports. The team at Jefferies remains very positive on the four top companies that beat earnings expectations and, most importantly, provided reassuring forward guidance. Net interest income, or NII, across all banks was impressive, and with the debate over where interest rates will be as we move through the rest of 2026 remaining a wild card for all the financial giants, the second half of the year could prove interesting. The Jefferies team had this to say when discussing the results: We’re out with our thoughts following large-cap bank earnings. We highlight that results were largely positive, with all four banks beating Earnings Per Share and Pre-Provision Net Revenue expectations. Loan growth came in modestly above expectations, while deposit trends were generally stable. NII growth remained healthy, supported by strong balance sheet momentum, deposit growth, and fixed-rate asset repricing. Fee income remained constructive, benefiting from strength in payments, treasury services, securities services, wealth management, and transaction banking. Meanwhile, capital markets were a standout performer, driven by robust trading activity, improving investment banking fees, and healthy client engagement. Here are the four dividend-paying financial giants that Jefferies rates as Buy. Bank of America Warren Buffett has trimmed his position over the past two years and sold a 50 million shares in the fourth quarter. This quality financial giant remains an exceptional long-term holding with a solid 1.89% dividend yield. Bank of America (NYSE:BAC) is a bank holding company that reported impressive Q2 results. Berkshire Hathaway owns 513,624,165 shares, which is 7.9% of the portfolio and 7.2% of the float. Berkshire did lower its Bank of America position in Q1 2026, but only modestly. According to the Q1 2026 13F filing, it was reduced by just 0.71%, a very small cut compared to other positions. The Jefferies analyst noted this: Bank of America delivered a strong quarter, with core EPS and Pre-Provision Net Revenue ahead of expectations, driven primarily by strength in investment banking and sales & trading. While NII was largely in line, management reiterated growth at the upper end of 6-8% and raised FY26 operating leverage guide to 300-400 bp from >200 bp previously following 2Q’s POL of 640 bp. The return on tangible common equity of 17.0% vs our 16.1% reinforces the earnings power of the franchise. Its segments include: Consumer Banking, which offers a range of credit, banking, and investment products and services to consumers and small businesses. Global Wealth & Investment Management (GWIM) comprises two businesses: Merrill Wealth Management, which offers tailored solutions to meet clients’ needs through a comprehensive suite of investment management, brokerage, banking, and retirement products. Bank of America Private Bank provides comprehensive wealth management solutions. Global Banking offers a range of lending-related products and services, including integrated working capital management and treasury solutions, as well as underwriting and advisory services. Global Markets offers sales and trading services, as well as research services, to institutional clients across fixed income, credit, currency, commodity, and equity markets. The Jefferies price target is $75. Citigroup This money-center giant pays a solid 1.64% and could be poised to deliver continued upside. Citigroup (NYSE:C) is a global diversified financial services holding company. The Jefferies team had this to say when discussing the second-quarter results: Citi delivered a strong quarter, with core earnings per share and pre-provision net revenue ahead of expectations, driven by stronger-than-expected NII, Markets, and Investment Bank results. Still, the expense outlook was worse than expected, as the return on tangible common equity guide for FY26 was reiterated at 10-11% despite 1H’26 ROTCE trending at 13%. Revenue outperformance could be offset by $5 billion of spending pulled forward that was originally planned for ’27/’28 related to US Card, growth, and productivity initiatives. The company’s segments include: Services Markets Banking Wealth U.S. Personal Banking (USPB) The Services segment includes Treasury and Trade Solutions (TTS) and securities services. TTS provides an integrated suite of tailored cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations. The Markets segment provides corporate, institutional, and public-sector clients worldwide with a full range of sales and trading services across equities, foreign exchange, rates, spread products, and commodities. The Banking segment includes investment banking, which supports client capital-raising needs to help strengthen and grow their businesses. The Wealth segment includes Private Bank, Wealth at Work, and Citigold, and provides financial services to a range of client segments. The USPB segment includes branded cards and retail services. Jefferies has a $165 target price for the shares. Goldman Sachs The white-glove banking giant delivered exceptional results and pays a 1.47% dividend. Goldman Sachs (NYSE:GS) is a global financial institution that delivers a range of financial services to a large and diversified client base, including corporations, financial institutions, governments, and individuals. The Jefferies team said this: Following 2Q26 results, our EPS estimates for the second half of 2026 and FY2027 increase by 9% and 8%, respectively, following a record 1H26 in both markets and advisory. Record equities revenues, all-time-high prime balances, accelerating large-cap M&A, and a five-year-high backlog provide strong support for continued earnings momentum. Its segments include: Global Banking & Markets Asset & Wealth Management Platform Solutions The Global Banking & Markets segment offers a range of services, including financing, advisory services, risk distribution, and hedging for its institutional and corporate clients. It facilitates client transactions and makes markets in fixed income, equity, currency, and commodity products. The Asset & Wealth Management segment manages assets and offers investment products across all asset classes to a diverse client base. It also provides investment and wealth advisory solutions. The Platform Solutions segment includes consumer platforms, such as partnerships offering credit cards and point-of-sale financing, as well as transaction banking and other platform businesses. Jefferies has set a price target of $1,299 for the shares. Wells Fargo With some difficult years in the rearview mirror, this bank could be one of the best values in the financial sector, and pays a 2.11% dividend. Wells Fargo (NYSE:WFC) is a financial services company. The company provides a diversified set of banking, investment, and mortgage products and services, as well as consumer and commercial finance, to individuals, businesses, and institutions. Jefferies analysts noted this: WFC posted a headline beat on strong fee income and continued expense discipline, and reiterated its FY26 NII and expense guidance. Despite a solid quarter, shares traded lower amid a net interest margin outlook that fell short of expectations and rising deposit costs. NIM compressed as expected, down 4 bp, in line with the guide, but better-than-expected AEA growth drove a modest NII beat. IB deposit costs rose 9 bps Q/Q, with continued pressure expected in 2H’26 as IB outpaces NIB growth. Wells Fargo operates through four segments: Consumer Banking and Lending Commercial Banking Corporate and Investment Banking Wealth & Investment Management The company provides consumer financial products and services, including checking and savings accounts, credit and debit cards, and auto, residential mortgage, and small business lending. In addition, the company offers financial planning, private banking, investment management, and fiduciary services. It also provides financial solutions to businesses through products and services, including traditional commercial loans and lines of credit, letters of credit, asset-based lending and leasing, trade financing, treasury management, and investment banking services. The Jefferies target price is $100. The post Jefferies Bullish on 4 Dividend-Paying Money Center Bank Giants After Huge Q2 Earnings Results appeared first on 24/7 Wall St..]]> Micron Drops 8% on China Competition Fears, Dragging Intel, AMD, and Marvell Wed, 15 Jul 2026 16:01:53 +0000 The post Micron Drops 8% on China Competition Fears, Dragging Intel, AMD, and Marvell appeared first on 24/7 Wall St.. MU fell 8% to $901 on Chinese memory competition concerns; INTC, AMD, and MRVL fell 6%, 5%, and 6% in sympathy selling as SOXX dropped 3%. MU's pullback follows 244% YTD surge and record highs; Chinese ChangXin Memory is now world's 4th-largest DRAM maker, threatening pricing power despite AI demand. INTC, AMD, and MRVL lack direct DRAM/NAND exposure, signaling sector-wide de-risking after YTD gains (INTC +192%, AMD +156%, MRVL +162%) rather than company-specific headwinds. Micron's bull case rests on AI memory demand and FQ4 guidance of $50 billion revenue, but bear case cites cyclicality, Chinese competition, and rich valuation after the 244% rally. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and AMD didn't make the cut. Grab the names FREE today. Shares of Micron Technology (NASDAQ:MU) are down 8% to $903.50 in early trading Wednesday, dragging the broader semiconductor complex lower. The selloff is spilling into Intel (NASDAQ:INTC), Advanced Micro Devices (NASDAQ:AMD), and Marvell Technology (NASDAQ:MRVL), which are lower by 6%, 6%, and 7%, respectively. The iShares Semiconductor ETF (NASDAQ:SOXX) is off 4% to $546.72, reflecting a sector-wide risk-off tone. Micron shares had been trading near record highs after a blowout June earnings print, so today’s pullback follows a powerful rally. The main catalyst appears to be a Micron-specific memory story. Barron’s reported that Micron shares fell as competition from Chinese memory-chip makers looks set to intensify, framing a longer-term threat to the DRAM and NAND business. China Memory Competition Fuels the Selloff Chinese producer ChangXin Memory Technologies (CXMT) has been climbing the DRAM ranks quickly. CXMT has become the world’s fourth-largest DRAM producer, and Apple (NASDAQ:AAPL) is testing CXMT chips for devices sold in China. Furthermore, Nio (NYSE:NIO) recently disclosed a $23.3 million investment in the Chinese memory maker. That signal of gathering Chinese scale threatens Micron’s pricing power in commodity DRAM even as HBM4 keeps the AI story intact. The narrative is framed as analysis, not a confirmed near-term revenue hit, but it lands on a stock that seems to already have been priced for perfection. Why Intel, AMD, and Marvell Are Falling in Sympathy Intel focuses on CPUs and foundry, AMD on CPUs and GPUs, and Marvell on custom silicon and networking. None of the three compete in DRAM or NAND, so today’s action in Intel stock, AMD stock, and Marvell stock reads as sector-wide de-risking rather than a China-memory hit to their fundamentals. Profit-taking is a big piece of the story. Intel stock is up 177% year to date, AMD shares are up 142%, and Marvell stock is up 145%. Sector-level positioning has repeatedly hit this group together, and today’s tape looks similar. The SOXX ETF holds all four names and is a common vehicle for sector exposure. Traders should note the concentration risk in a handful of mega-caps within their sector allocation. The fund isn’t leveraged, so exposure moves one-for-one with the underlying basket. Weighing the Bull and Bear Case on Micron The bull case for Micron remains anchored in AI memory demand. The company delivered FQ3 2026 revenue of $41.46 billion, up 346% year over year, with non-GAAP EPS of $25.11 and GAAP gross margin of 85%. Micron’s guidance for FQ4 called for revenue of $50 billion, plus or minus $1 billion. The bear case rests on memory cyclicality, the Chinese competitive overhang, and a rich valuation after the run-up. Micron stock is up 217% year to date. Traders sizing their positions here can expect volatility to stay elevated and may consider trimming their exposure into strength. The prediction markets echo the near-term caution. Polymarket odds put a 99% probability on Micron closing lower on July 15, and the crowd assigns 72% odds to the stock touching $840 in July. What to Watch Now Traders can watch for whether Micron holds $905 and whether the SOXX ETF’s bounce attempts gain traction. Any confirming reporting on Chinese memory capacity, or a rebuttal from HBM customers, could reset the tone quickly. TD Cowen’s $1,600 price target on Micron and Citigroup‘s (NYSE:C) upside catalyst watch on stronger second-half DRAM pricing remain intact for now. Market watchers can look for whether any sell-side desk cuts numbers on the China angle, with Micron’s next scheduled earnings being the key forward catalyst for the memory group. The post Micron Drops 8% on China Competition Fears, Dragging Intel, AMD, and Marvell appeared first on 24/7 Wall St..]]> Citigroup Is Up 14% This Year: Is It Outperforming Other Bank Stocks Like Wells Fargo and Bank of America? Tue, 14 Jul 2026 19:18:53 +0000 The post Citigroup Is Up 14% This Year: Is It Outperforming Other Bank Stocks Like Wells Fargo and Bank of America? appeared first on 24/7 Wall St.. Citigroup (C) fell 5.84% to $132.50 Tuesday after Q2 earnings beat: $3.15 EPS vs. $2.74 expected, $24.8B revenue (highest in decade), triggering sell-the-news reversal. Citigroup trades at 16x P/E, richest of big three banks, limiting upside; leadership position requires flawless execution amid tight AI-trading and dealmaking margins. Bank of America (BAC) shares rose 1.29% to $60.27 after strong Q2 with $1.21 EPS; Global Markets revenue jumped 34% on 70% equity trading surge and 50% investment banking growth. Wells Fargo (WFC) dropped 3.82% to $84.76 despite $2.00 EPS beat and 35% investment banking gains; CFO's cautious capital tone weighed on sentiment despite 13x P/E valuation. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Bank of America didn't make the cut. Grab the names FREE today. Citigroup (NYSE:C) stock is down 4.7% to $134 Tuesday afternoon, a sharp sell-the-news reversal after the bank beat every analyst estimate for the second quarter. Citigroup shares had traded higher earlier in the session before turning red. Zoom out, though, and Citigroup stock is still the clear year-to-date leader of the big three. Citigroup stock is up 13.75% in 2026, ahead of Bank of America (NYSE:BAC) stock at up 9.34% and Wells Fargo (NYSE:WFC) stock at down 8.82%. All three banks reported strong Q2 2026 results powered by an AI-driven trading and dealmaking boom. Yet, the reaction across the group is mixed to negative, with Wells Fargo stock down 3.32% to $84.76 and Bank of America shares up only 1.29% to $60.27 after touching a record high earlier. Citigroup Delivers a Blowout, Stock Reverses Anyway Citigroup posted Q2 2026 earnings of $3.15 per share on $24.8 billion in revenue, marking the company’s highest revenue in a decade. The Street had expected about $2.74 in earnings per share, and record equity-trading revenue drove the upside. Citigroup’s management paired the report with capital-return firepower, announcing a $30 billion buyback and a 12% dividend increase. That builds on the earlier hike from $0.56 to $0.60 per quarter that Citigroup pushed through last year. The bear case that took over on Tuesday afternoon is straightforward. Citigroup’s CFO acknowledged that its equities franchise still trails larger rivals, and Citigroup stock now trades at a 16x P/E ratio. That’s the richest multiple of the three, which sets a higher bar even after a genuine beat. Bank of America and Wells Fargo Also Beat, With Different Reactions Bank of America reported EPS of $1.21 on revenue of $31.6 billion, its fifth consecutive quarterly EPS beat. The company’s Global Markets revenue jumped 34% to $8.02 billion, with equities sales and trading up 70% and investment banking fees up 50%. CEO Brian Moynihan called it “one of our strongest quarters to date” and struck an upbeat tone on financing the AI buildout. Bank of America stock trades at a 15x P/E ratio, cheaper than Citigroup but richer than Wells Fargo. Wells Fargo, meanwhile, posted EPS of $2, with investment banking fees up 35% and return on tangible common equity of 17.7%. The bank also announced a buyback and a planned dividend raise, but CEO Charlie Scharf’s “carefully deploying capital” tone weighed on Wells Fargo shares. Wells Fargo stock trades at a 13x P/E ratio, the cheapest of the group. So Is Citigroup Actually Outperforming? The short answer is yes, at least on the year-to-date scoreboard. Citigroup’s 13.75% run tops Bank of America and doubles down on the turnaround story CEO Jane Fraser has been selling, with 65.9% gains over the past year backing it up. The nuance is that Citigroup carries the richest valuation and the smallest markets franchise of the three, so any wobble in trading or dealmaking hits harder. Tuesday’s reversal is a reminder that leadership at the top of a rally leaves less margin for error, and investors should consider sizing their positions accordingly. For readers who prefer a broader lens, the Financial Select Sector SPDR ETF (NYSEARCA:XLF) offers diversified exposure to the big banks and the wider financials complex in one fund. That can smooth out days like this one, when three earnings beats produced three different market reactions. What to Watch Next The immediate cue is whether Citigroup stock can stabilize into Tuesday’s close after giving back ground from an earlier intraday high. Follow-through from the $8 billion in Bank of America capital returns and Wells Fargo’s guidance on its dividend plan could set the tone for the rest of bank earnings week. Keep an eye on how the group trades over the next few sessions. If Citigroup holds most of its year-to-date lead through the JPMorgan Chase (NYSE:JPM) and regional bank earnings reports later this week, the outperformance thesis could remain intact even after a rough Tuesday. The post Citigroup Is Up 14% This Year: Is It Outperforming Other Bank Stocks Like Wells Fargo and Bank of America? appeared first on 24/7 Wall St..]]> Senior Analyst: Banks Are Set for 25% Earnings Growth as the Capital Markets Boom Accelerates Mon, 13 Jul 2026 23:58:24 +0000 The post Senior Analyst: Banks Are Set for 25% Earnings Growth as the Capital Markets Boom Accelerates appeared first on 24/7 Wall St.. Citizens Senior Analyst Devin Ryan expects 25% YoY earnings growth for top six banks, with GS and MS positioned for ~40% growth from capital markets revival. GS Q1 revenue: $17.23B (IB fees +48% to $2.84B); MS: $20.58B record revenue (advisory +74%), validating capital markets tailwind. Prediction markets show 93.9% probability Goldman beats consensus and 98.2% chance Q2 investment banking fees exceed $2.1 billion. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and JPMorgan Chase didn't make the cut. Grab the names FREE today. Devin Ryan, Senior Research Analyst at Citizens, laid out a bullish setup for big banks on Monday’s CNBC segment ahead of Q2 earnings. He said: “Tomorrow is going to be, I think, a really good day to kick things off for the top six banks. We’re looking for about 25% year-over-year earnings growth.” With Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Wells Fargo all reporting before the open on Tuesday, July 14, and Morgan Stanley following on Wednesday, July 15, the setup is concentrated and driven by the revival of capital markets along with commercial lending. Goldman Sachs and Morgan Stanley Could Lead the Bank Earnings Boom Ryan’s core call is that the biggest upside among the big banks could sit with the most capital-markets-levered franchises. “The companies that are going to do the best are probably the ones more exposed to capital markets. So SpaceX IPO, M&A announcements are up 50% year-to-date through the first half. And so Goldman Sachs, Morgan Stanley probably going to be standouts. We’re looking for almost 40% earnings growth out of both of those.” Goldman Sachs Is Built for the Capital Markets Revival Q1 2026 validated the direction. Goldman Sachs (NYSE:GS) posted EPS of $17.55 on $17.23 billion in revenue, with investment banking fees of $2.84 billion up 48% and advisory revenues nearly doubling at $1.49 billion, up 89%. CEO David Solomon said, “Goldman Sachs delivered very strong performance for our shareholders this quarter, even as market conditions became more volatile” in the firm’s Q1 release. Morgan Stanley Enters Earnings With Record Momentum Morgan Stanley (NYSE:MS) delivered its own record. Ted Pick’s team reported $20.58 billion in revenue, EPS of $3.43, ROTCE of 27.1%, and advisory revenue up 74% to $978 million. Ryan’s near 40% earnings growth expectation follows Q1 net income growth of 29%. Wall Street’s Rebound Is Lifting America’s Biggest Banks Ryan sees the capital markets tailwind lifting the rest of the group. JPMorgan Chase (NYSE:JPM) opened 2026 with EPS of $5.94, up 17%, record Markets revenue of $11.6 billion, and advisory fees up 82% to $1.27 billion. Jamie Dimon flagged “increased fiscal stimulus, the benefits of deregulation, AI-driven capital investment and the Fed’s asset purchases” as tailwinds. Bank of America (NYSE:BAC) grew EPS 25% year-over-year to $1.11, with equities trading up 30% and investment banking fees up 21%. Citigroup (NYSE:C) delivered net income up 42% and Markets revenue crossing $7 billion for the first time, with equity markets up 39%. Wells Fargo grew EPS 15%, with CIB Markets up 19% and equity capital markets share expanding. The Next Banking Opportunity May Be Hiding Outside the Mega Banks Capital markets stocks were up nearly 50% last year and up 20% in 2026 to date, with the S&P 500 up 15% in the second quarter. Goldman shares are up 21.19% year-to-date, and Morgan Stanley is up 26.55%. Ryan’s cautious because: “We think a lot is actually baked in. And so we’re looking for areas where there’s probably more upside. We still think there’s areas of capital markets like middle market sponsors. Private equity still have quite a way to recover.” On commercial lending re-acceleration, he pointed to two forces. “So data centers is a big piece of the reacceleration, but then also just capital markets turning back on. So as you think about [the] M&A market that’s been dormant, starting to get back to something more normal that leads to lending opportunities into those deals.” Key Takeaways The major banks enter Q2 earnings with strong momentum across investment banking, trading, and commercial lending. Goldman Sachs and Morgan Stanley may deliver the strongest results because of their greater exposure to the capital markets recovery, with Ryan expecting earnings growth of nearly 40% from both firms. Expectations are already high, however, and much of the rebound may be reflected in mega-bank share prices. The next opportunities could emerge among middle-market firms and other lenders that stand to benefit as private equity activity, M&A, and data center investment recover. A broader market pullback or slowdown in AI-related spending remains the clearest risk to that outlook. The post Senior Analyst: Banks Are Set for 25% Earnings Growth as the Capital Markets Boom Accelerates appeared first on 24/7 Wall St..]]> Fundstrat’s Tom Lee: July will be stronger for stocks as valuations become more reasonable Fri, 10 Jul 2026 16:48:30 +0000 The post Fundstrat’s Tom Lee: July will be stronger for stocks as valuations become more reasonable appeared first on 24/7 Wall St.. Fundstrat's Tom Lee predicts S&P 500 (SPY) rallies to 8,000–8,800 by year-end as June's pullback creates conditions for July upside. SPY's price-to-earnings multiple contracted 1.1 turns since January despite 9.22% year-to-date gain, leaving room for expansion alongside Q2 earnings surprises. Lee warns of near-term volatility from Fed communications and SpaceX share unlocks that could pressure liquidity through August-October despite the July-year end rally thesis. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and JPMorgan Chase didn't make the cut. Grab the names FREE today. Fundstrat’s Tom Lee returned to CNBC last week with a specific call: after a soft June, July should mark a turn higher for U.S. stocks. His argument rests on a simple observation. Even with the SPDR S&P 500 ETF Trust (NYSEARCA: SPY) sitting up 9.22% year to date through July 2, the market’s price-to-earnings multiple has actually compressed since January, giving earnings room to catch up and multiples room to expand. The setup matters because June was choppy. SPY finished down 1.95% over the past month, and the CBOE Volatility Index touched 19.95 on June 25 before easing back to 15.56 by July 6. Lee’s thesis is that the reset in sentiment created the conditions for the next leg up. The valuation math behind Lee’s July call Speaking with Scott Wapner on CNBC’s Closing Bell, Lee said “the market’s P/E is actually lower now than it was in January by 1.1 full turn,” and he expects second quarter earnings to surprise to the upside again. That combination, higher earnings against a lower multiple, is what he sees as the fuel for a rally. He put a concrete number on it. “8,000 would be roughly 20 times the 2026 earnings of 400. I think that’s a low estimate. I think the P/E multiple could be 22 or better. So that would be, you know, even 8,400, 8,800 kind of would be the upside into year-end,” Lee said. In other words, if S&P 500 companies deliver on the earnings side, he sees a path to roughly 8,000 to 8,800 by year-end. That framing echoes what other strategists have been laying out. Goldman Sachs (NYSE: GS) flagged AI investment and a stable economy as key drivers of S&P 500 earnings growth in late June, and Citigroup (NYSE: C) raised its year-end S&P 500 target to 8,100 on the same AI-driven earnings thesis. Skeptics such as Seeking Alpha’s Cory Cramer have countered that the projected 27% earnings growth for 2026 is “largely misleading” and reliant on accounting effects. Why underperforming managers could power the rally Lee also pointed to a positioning tailwind. “Only 23% of fund managers are beating the large-cap growth index. That’s the lowest number in almost five years,” he said, arguing that the performance gap will force portfolio managers to chase gains and buy dips in July. Institutional flows already show that behavior taking shape: SPY absorbed a $24.95 billion net inflow during a down week in late June, and technical analysts flagged a potential “golden cross” formation on the ETF. The August through October warning Lee’s bullish July view carries a caveat. He told CNBC he expects “something that might feel like a bear market” between now and year-end, driven by two catalysts: the market testing the new Fed chair’s inflation framework, and a gradual unlock of SpaceX shares that could pressure liquidity. He drew a parallel to earlier in 2026, when a February to April drawdown of only 7% still felt like a bear market, and the VIX briefly reached 31.65 on March 27. That is worth taking seriously. Benzinga reported that institutional investors are actively building put-spread collars on SPY and QQQ, and the CBOE SKEW index has been rising even as VIX drifts lower. Smart money is buying insurance for tail risk while riding the rally. What to watch next The immediate tests are Q2 earnings season, which will confirm or reject Lee’s upside surprise thesis, and Fed communications on the pace of any rate cuts after June payrolls came in soft. For readers who track prior 24/7 Wall St coverage, JPMorgan (NYSE: JPM) has laid out a similar earnings-driven framework with a bull case around 8,900 by year-end, providing a useful benchmark for Lee’s numbers. The window Lee describes is narrow, and the second half looks bumpier than the first. The post Fundstrat’s Tom Lee: July will be stronger for stocks as valuations become more reasonable appeared first on 24/7 Wall St..]]> MARA Is Up 19% Today: Is It Outperforming Other Crypto Stocks Like Riot and CleanSpark? Thu, 09 Jul 2026 15:07:21 +0000 ... MARA Is Up 19% Today: Is It Outperforming Other Crypto Stocks Like Riot and CleanSpark?]]> The post MARA Is Up 19% Today: Is It Outperforming Other Crypto Stocks Like Riot and CleanSpark? appeared first on 24/7 Wall St.. Marathon Digital (MARA) rises 12% to $13.43 after securing 1,200-acre Texas land deal with 1 GW power capacity by Oct 2027, targeting ~4.8 GW capacity by April 2028. Marathon Digital's AI infrastructure pivot outpaces peers RIOT (+3%) and CLSK (+4%), but lacks signed hyperscaler tenant compared to rivals' locked contracts. Bitcoin rises 1.3% to $62,735, broadly lifting crypto miners; MARA outperforms sector. Watch hyperscaler announcements and Q2 earnings. Shares of Marathon Digital (NASDAQ:MARA) are up 18% in midday trading Thursday, changing hands at $14.27. The move puts Marathon Digital stock at the top of the crypto miner leaderboard on July 9, 2026, ahead of peers Riot Platforms (NASDAQ:RIOT), CleanSpark (NASDAQ:CLSK), and TeraWulf (NASDAQ:WULF), all of which are also higher. The rally caps a volatile stretch for MARA stock in which double-digit moves aren’t unheard-of. Today’s snapback matters for traders watching MARA stock approach the $15 resistance level. Bitcoin (CRYPTO:BTC) provides a sector tailwind. BTC is trading near $62,915 in midday action after tagging an intraday high of $63,199, up 1.76% over the past 24 hours. That mild Bitcoin bid lifts the whole complex, but MARA stock is outpacing its peers on the day. The Catalyst: A 1,200-Acre Bet on AI Power The trigger is a fresh land deal. Marathon Digital announced its acquisition of a 1,200-acre powered land site in Matagorda County, Texas from HIF USA, developed with Starwood Digital Ventures. The property is expected to provide up to 1 GW of grid capacity by October 2027, scaling to 2 GW by April 2028. Upon full energization, the site more than doubles Marathon Digital’s total power capacity to about 4.8 GW, factoring in the pending $1.5 billion Long Ridge acquisition, a 505 MW gas plant in Ohio. CEO Fred Thiel stated, “This transaction advances our strategy of securing strategically located infrastructure assets capable of supporting high-performance compute and bitcoin workloads.” The deal cements Marathon Digital’s pivot from pure-play mining toward AI and high-performance computing infrastructure, joining a sector-wide race to convert power-rich sites into data center campuses. It also aligns MARA with peers racing to monetize gigawatt-scale power assets. Peers Follow, but MARA Leads Today The rally has spread to multiple cryptocurrency-focused stocks. Riot Platforms stock is up 5% to $22.22, and CleanSpark shares are higher by 6% to $13.11. Meanwhile, TeraWulf stock is up 4% to $23.73. Riot Platforms brings AI credentials from $33.15 million in Q1 2026 data center revenue anchored by an Advanced Micro Devices (NASDAQ:AMD) lease at its Rockdale, Texas campus. TeraWulf sits further along the transition, with HPC lease revenue at more than 60% of Q1 2026 total and total contracted revenue above $13 billion, largely backstopped by Alphabet‘s (NASDAQ:GOOGL) Google credit. The YTD Picture Tells a Different Story Today’s leader isn’t the frontrunner for 2026 so far. Marathon Digital stock is up 50.5% year to date (YTD), but that trails Riot Platforms at 72% YTD and TeraWulf at 106%. CleanSpark shares are up 29% YTD, keeping MARA in the middle of the pack. Analyst positioning echoes the ranking. Citigroup (NYSE:C) raised its Riot Platforms stock price target to $28 with a Buy rating, and Morgan Stanley (NYSE:MS) lifted TeraWulf to $72 with an Overweight rating on its $19 billion, 20-year Anthropic lease. Marathon Digital faced the opposite treatment, with Morgan Stanley cutting its MARA target to $5.50 from $7 at Underweight, though the Street average target sits at $18.54. Bull vs. Bear on Marathon Digital The bull case rests on scale. If Matagorda, Long Ridge, and the Starwood joint venture deliver as advertised, Marathon Digital could rival TeraWulf and Riot Platforms in gigawatt-class AI capacity within roughly two years. Marathon Digital’s 72.2 EH/s energized hashrate, up 33% year over year (YoY) keeps mining cash flow live during the transition, and the pending Long Ridge close targets positive EBITDA on day one. The bear case centers on dilution and execution. MARA stock carries a beta of 5.37 and a 52-week range of $6.66 to $23.45. Critics point to executive compensation, equity raises, and the absence of a finalized hyperscaler tenant, something TeraWulf (Google, Core42, Fluidstack) and Riot Platforms (AMD) already have locked in. Furthermore, Marathon Digital’s Q1 2026 revenue of $174.6 million missed the $184.21 million consensus estimate. For sector-level context, the CoinShares Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) holds MARA, RIOT, and CLSK, offering diversified exposure to cryptocurrency-mining businesses. The ETF isn’t leveraged, though crypto-miner funds remain highly volatile. What to Watch Investors can watch for whether today’s move holds into the close and whether Marathon Digital secures a hyperscaler anchor tenant for Matagorda or Long Ridge. Given the group’s high beta and direct crypto linkage, investors should consider keeping position sizes modest and treating any single-day rally as tactical rather than thesis-confirming. Bitcoin’s next price move remains the swing factor for the whole cohort. A break back above $63,200 could extend the miner bounce into Friday, while a slip under $62,400 would likely take MARA, RIOT, CLSK, and WULF with it. The next scheduled catalyst is the group’s Q2 2026 earnings cycle, where Marathon Digital’s ability to translate power capacity into signed AI leases will be the key line for investors to track. The post MARA Is Up 19% Today: Is It Outperforming Other Crypto Stocks Like Riot and CleanSpark? appeared first on 24/7 Wall St..]]> Dave Ramsey: “Citibank and Amex Have Screwed an 85-Year-Old Widow” With $45,000 in Credit Card Debt Tue, 07 Jul 2026 22:09:52 +0000 ... Dave Ramsey: “Citibank and Amex Have Screwed an 85-Year-Old Widow” With $45,000 in Credit Card Debt]]> The post Dave Ramsey: “Citibank and Amex Have Screwed an 85-Year-Old Widow” With $45,000 in Credit Card Debt appeared first on 24/7 Wall St.. American Express (AXP) issued a 21% APR card to an 85-year-old widow on Social Security alone, but cannot collect the $9,385.15 judgment because Social Security is exempt from. This analysis holds only for widows with zero non-Social Security income and no personal assets; any inheritance, paid home. On the June 10, 2026 episode of The Ramsey Show, a caller named Michelle from New York explained that after her father died in July, she discovered her 85-year-old widowed mother had accumulated roughly $45,000 in credit card debt across an Amex, a Citi Mastercard, and a Citi Visa. Her mother owns nothing. The house was transferred to the children in 2006. Social Security is the only income, and about $300 a month is left after fixed expenses. Three collectors are sending letters. American Express has already filed suit for $9,385.15. Dave Ramsey’s response was blunt: “Citibank and Amex have screwed an 85-year-old widow. They issued her card at a high interest rate and she has

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