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Shares of CoreWeave (CRWV) are up 12%, or by $12.51 on the day.
Fueling momentum, Nvidia just invested $2 billion to expand AI data center capacity.
“This deal allows us to accelerate our build, which will lead to continued diversification and reducing dependency on any particular client as we scale into this additional data center capacity,” CoreWeave CEO Mike Intrator told CNBC.
Analysts at Deutsche Bank upgraded CRWV to a buy rating with a $140 price target on the Nvidia news.
The firm added, “It provides CoreWeave three key things: (1) an accelerated path to its newly stated goal of adding 5GW+ of Al Infrastructure by 2030 (beyond current 2.9GW backlog), leveraging NVIDIA’s financial strength to secure access to additional land and powered shells; (2) deepened technical integration that should enable CoreWeave to remain among the very first to market with new NVIDIA compute architectures; (3) potential for the company’s SUNK and Mission Control software to be included in NVIDIA’s reference architectures,” as quoted by Seeking Alpha.
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Lithium demand is exploding again.
It’s why shares of Albemarle (ALB) just ran from a recent low of $150 to $193.50, with the potential to test $200.
As we noted just days ago, Deutsche Bank upgraded ALB to a buy rating with a $185 price target. Analysts at Baird also upgraded ALB to a buy with a price target of $210.
“We are incrementally positive given the recent increase in lithium prices… and our view that demand strength stemming from stationary storage will continue to propel ALB higher,” Baird analysts wrote, as noted by Seeking Alpha.
Analysts at Truist also just upgraded ALB to a buy rating with a price target of $205. “The upgrade reflects Truist’s positive outlook on lithium pricing fundamentals, which the firm believes are improving due to better industry-wide production discipline and strong demand in key markets, including energy storage systems and electric vehicles,” added Investing.com.
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Some of the top health insurance stocks are taking a massive hit in premarket.
Humana (NYSE: HUM), for example, is down about 17%. UnitedHealth (NYSE: UNH) is down about 16%, or by $57 a share. All after the Trump Administration proposed nearly flat rates for Medicare Advantage insurers.
“The proposal entails a net average payment increase of 0.09% for Medicare Advantage plans in 2027, according to a press release from the Centers for Medicare and Medicaid Services, as noted by CNBC. That number is significantly less than Wall Street analysts’ expectations that the agency would propose a rate increase of between 4% to 6% for next year.”
That’s a big deal because that figure determines how much an insurance company can charge for monthly premiums and plan benefits. All of which impact their profits.
Markets are mixed at the moment.
S&P 500 futures are up about 0.2%. Meanwhile, the SPDR S&P 500 ETF (SPY) is up about 0.27%. The Dow Jones is down 0.52%, as the Nasdaq tacks on 0.57%.
All ahead of key earnings from companies like Apple
Apple (NASDAQ: AAPL) is gaining momentum ahead of earnings on Thursday, thanks in part to a price target boost from JPMorgan. The firm reiterated its overweight rating on Apple and raised its price target to $315 from $305 ahead of Apple’s first-quarter earnings.
Evercore ISI added Apple to its Tactical Outperform list, arguing that strong iPhone demand positions the company for strong earnings. The firm reiterated an Outperform rating and a $330 price target on Apple stock. Evercore expects iPhone revenue to climb 17% year over year, which would be well above calls for 11% growth.
Analysts at Citigroup say that the surge in demand for iPhone 17 models carried through the end of the year. The firm expects to see Apple beat earnings, thanks to the sale of 82 million iPhone units, which was ahead of consensus estimates.
Meta Platforms will release earnings on Thursday
Analysts expect Meta (NASDAQ: META) to generate earnings of $8.29 per share, an increase of 3.4% from $8.02 per share reported year over year. For the current year, analysts forecast the company to report an EPS of $29.40, a 23.2% increase from $23.86 reported for FY 2024. EPS is expected to grow 4.2% year over year to $30.63 in fiscal 2026.
With this report, we’re looking for growth in its investments in data centers and hardware. That’s in addition to what it’s spending on R&D, which jumped about 50% over the last few years.
Analysts at Bank of America just reiterated a buy rating on the stock with an $810 price target. The firm expects Q4 revenue of $59.2 billion and earnings per share of $8.27. That’s above consensus estimates of $58.3 billion and $8.20, respectively.
Other than Apple and Meta, we’re also waiting for earnings from Microsoft and Tesla.
$7,000 Gold a Possibility
Gold is now up to $5,086. Silver is now up to $111.61. Both are likely to run even higher as investors shift into the safe havens of precious metals. Also, as long as US dollar weakness continues, driven by geopolitical issues and the Federal Reserve, both metals could rally even higher. In fact, we’re now seeing calls for $7,000 gold.
While analysts have been calling for $5,000 gold for some time, we’re now seeing calls for $7,000 gold. According to SAMCO Securities, gold could test $7,000, driven by further geopolitical uncertainties, sky-high deficits, central bank demand, and the real interest rate environment, as noted by Business Standard.
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