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Anthony Scaramucci, the founder of SkyBridge Capital, said Monday that JPMorgan Chase & Co.’s (NYSE:JPM) reported plan to allow clients to borrow against their Bitcoin (CRYPTO:
Shares of department store chain Dillard’s (NYSE:DDS)
jumped 3% in the afternoon session after JPMorgan Chase & Co. raised its price target on the retailer. Investment analysts at the firm increased their price objective to $458.00 from $368.00, citing a strong end to the quarter that was driven by a rise in consumer activity in July. Despite the upgraded price target, JPMorgan maintained its 'underweight' rating, which signaled a continued cautious outlook on the stock's performance relative to the market. The market reacted positively to the price target change, and the shares reached a new all-time high of $511.02 during the session.
Shares of clothing and footwear retailer Boot Barn (NYSE:BOOT)
jumped 3.1% in the morning session after analysts at JPMorgan Chase & Co. and Piper Sandler raised their price targets on the stock, signaling confidence in the company's outlook.
Shares of IREN Limited (NASDAQ: IREN) are trading lower Monday following a downgrade from JPMorgan, which lowered its rating on the stock from Overweight to Neutral.
Shares of Royal Caribbean have risen 52% so far this year and jumped more than 125% in the last 12 months, driven by steady cruise demand and higher ticket prices.
The JPMorgan Equity Premium Income ETF fund rose and is nearing its all-time high. JEPI was trading at $57.2, a few points below the all-time high of $57.56, up by almost 20% from its lowest level in April this year.
Alphabet (GOOGL, GOOG) is strong in AI & cloud computing and faces regulatory uncertainty. J.P. Morgan sees the stock as a buy with a $232 price target.
In early July, Exxon had forecast that the lower oil and gas prices could reduce its second-quarter earnings by about $1.5 billion from the prior quarter's level.
Shares of language-learning app Duolingo (NASDAQ:DUOL)
fell 6.9% in the morning session after JMP Securities lowered its price target on the stock, citing concerns about slowing user engagement ahead of the company's second-quarter earnings report.
Shares of department store chain Kohl’s (NYSE:KSS)
fell 5% in the morning session after analyst commentary from JPMorgan Chase & Co. highlighted significant downside risk, puncturing momentum from a recent meme-stock rally.
Shares of young adult apparel retailer Abercrombie & Fitch (NYSE:ANF) jumped 6.1% in the morning session after analysts at JPMorgan raised their price target on the stock.
Shares of athletic apparel brand Nike (NYSE:NKE)
jumped 4.3% in the morning session after J.P. Morgan upgraded the stock to Overweight from a Neutral rating, citing a potential multi-year recovery.
President Trump just signed the GENIUS Act, giving stablecoins a 1:1-reserve federal rule-set and setting off a new era of U.S. dollar-backed crypto adoption.
Tesla’s shares continued to rise on Monday, extending the surge from Friday after the company announced a $16.5 billion partnership with Samsung Electronics for semiconductor chips.
JPMorgan says the $2 trillion stablecoin market forecast is too optimistic. Slower growth, regulation, and limited use cases may hold back the crypto sector.
The company stated that the offering comprises a common equity PIPE, which will deliver $500 million in gross proceeds, primarily $400 million in cash and $100 million in cryptocurrency.
JPMorgan maintained its ‘Overweight’ rating on the shares, according to TheFly, and said its fieldwork indicates a strong close to the quarter resulting from steady demand.
