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Wall Street comments on Microsoft, Activision Blizzard, Twitter, and other stocks

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The latest commentary on Microsoft, Activision Blizzard, Twitter, Meta, and some other stocks, straight from Wall Street. What are the best stocks to buy now? 

Wells Fargo lowered its target price for Microsoft stock to $350 from $400, maintaining an “above market” rating

The bank acknowledges that the situation in Q4 is certainly challenging, as key early indicators of a recession are becoming increasingly clear. While these macro issues could put various sub-segments of Microsoft’s business at risk and stifle some of the impressive pace of recent growth, Wells Fargo does not believe the impact of the current climate changes any element of Microsoft’s underlying value proposition or competitive positioning. 

Moreover, if the market downturn leads to the need to develop IT spending at businesses around the world, it sees Microsoft as one of the best companies to gain additional stocks today.

Activision Blizzard Inc. stocks today

Activision Blizzard Inc. stocks today are trading about 17% below the agreed-upon takeover price for Microsoft Corp. amid fears that regulators could block the deal. but MoffettNathanson sees the spread as an opportunity. The firm upgraded Activision’s stock to “above market” from “at market,” writing about the potential benefits on arbitrage related to the deal, though it doesn’t believe the merger will close immediately.

Jefferies commented on Twitter’s disappointing results 

Jefferies commented on Twitter (NYSE:TWTR) disappointing results. The firm noted advertising revenue growth of only 2% while costs continued to rise. Jefferies blamed this on a weakening advertising market. 

The firm believes that TWTR is interested in negotiating a deal with Ilon Musk below $54.20, given that Musk could incur significant costs if he drags it out. Jefferies believes that if Musk appeals the court’s decision (which will likely happen in late ’22), it could take another 3-4 years to fully resolve the case. If the case drags on, TWTR’s valuation could be further reduced, further forcing the company to settle for a lower price.

Wall Street stocks today: Raymond James upgraded Travelers’ rating 

Raymond James upgraded Travelers (NYSE:TRV) stock from neutral to “actively buy” as it stands a good chance of outperforming expectations on a relative basis. Specifically, the firm expects Travelers’ business insurance segment contract renewal prices to exceed loss costs in 11 of the last 13 quarters, combined with improved risk selection tools, to further improve underlying margins.

Wall Street stocks to buy: Mizuho lowered its target price for Meta

Mizuho lowered its target price for Meta Platforms* Inc. (META) stocks today to $250 from $325, maintaining a “buy” rating, as a review of leading ad agencies showed that seasonal spending growth in Q2 was about one-third of normal levels. The firm noted that the shift in revenue mix toward Instagram Reels, as well as privacy issues in iOS, are also hurdles.

Morgan Stanley

Morgan Stanley called (JD) a “catalyst-driven idea.” The bank thinks the catalyst could be a higher-than-expected revenue growth forecast when next reports earnings in August.

Morgan Stanley downgraded Snap (NYSE: SNAP) stock from “above market” immediately to “below market,” and its target price from $17 to $8

The bank cited concerns about the company’s revenue and earnings outlook, given disappointing Q2 results, Q3 trends and some specific issues. The lowered target reflects a 12% and 26% decline in revenue in 2022/2023, respectively. The bank also noted the growing threat of competition, mainly coming from TikTok. 


Wall Street futures rise after the U.S. Fed meeting

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the preservation of the Fed's discount rate

U.S. stock index futures are rising Thursday, trading data showed. Markets are assessing the outcome of the U.S. Federal Reserve (Fed) meeting.

The Dow Jones Industrial Average (DJIA) futures rose 0.22% to 32,329 points, the NASDAQ high-tech index rose 0.96% to 12,828.5 points and the S&P 500 broad market index rose 0.48% to 3,989.75 points.

The Fed on Wednesday expectedly raised its benchmark rate by 25 basis points to 4.75-5% per year. The regulator noted that it does not expect the rate reduction this year, but allows it next year. U.S. exchanges were down 1.6% in Wednesday trading.

According to the CME Group, 55.8% of analysts now expect the Fed’s discount rate to remain unchanged in May, while 44.2% expect it to rise another 25 basis points. Thus, markets concede that the Fed may interrupt the cycle of hikes that began last March.

At the same time, shares of cryptocurrency exchange Coinbase were down 10.6% in pre-bid trading. The exchange this week received notice from U.S. authorities of an impending charge of violating laws.

Later in the trading, statistics on initial jobless claims in the U.S. for the week through March 18 will be released. Analysts forecast that the figure would increase by 5 thousand to 197 thousand applications.

Earlier we reported that the US budget deficit was $262bn in February

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ITB (International Trading Brachium) Broker Announced Its YouTube channel

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ITB (International Trading Brachium)

(Mahe, Seychelles-March 08, 2023) – ITB BROKER, LLC, an international forex broker, has announced that with our community growing, we believe that this will be the most effective medium to communicate with and so, we’re proud to announce the launch of ITB YouTube channel .

When a picture speaks a thousand words, How about a video?

  • Throughout our community building initiative, we strongly believe in video as our means of communication. Video has played a pivotal role in describing our futuristic services to our audience and in communicating our disruptive vision to potential traders or investors.
  • Over the next few weeks, we will be launching interesting videos on upcoming ITB features, bonuses, partnership or IB announcements and financial market expert interviews.
  • YouTube is a great place to pick up forex trading tips and learn how to use them in the real world.

There are a number of YouTubers that make great educational videos, perfect for beginners or those considering taking up forex trading. ITB group with over 10 years of financial experience provides you with useful tips and hints of forex trading via its  YouTube channel.

About ITB

ITB Broker or ITBFX is a leading provider of online foreign exchange (FX) trading, CFD trading, and related services.

Founded in 2017, the company’s mission is to provide enthusiastic traders with access to the world’s largest and most liquid market by offering innovative trading tools, applying excellent trading platform, meeting strict financial standards, and striving for the best online trading experience in the market.

In addition, ITB offers educational courses on FX trading and Cryptocurrencies on academy section of ITBFX website.

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U.S. budget deficit totaled $262 billion in February 

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U.S. budget deficit

According to a report from the U.S. Treasury Department, the U.S. budget deficit in February was $262,434 billion compared to a $38.8 billion deficit in January. The Dow 30 also had problems.

Analysts at DailyFX suggested that the nation’s budget deficit for February was expected to be $256 billion. A year earlier, in February, the U.S. posted a budget deficit of $216,590 billion.

According to the GAO report, U.S. government spending rose 3.5 percent year over year last month to $524.548 billion, while revenue, in contrast, declined 9.5 percent to $262,114 billion.

Earlier, the U.S. edition of the Washington Post published an editorial stating that the new draft budget proposed by the Biden administration undermines U.S. national security and its ability to invest in the future, because it suggests a further growth of the U.S. national debt.

The WP editorial board noted that the new draft budget assumes a $2 trillion budget deficit, including due to the high cost of providing health insurance to the elderly of the baby boomer generation.

Earlier we reported that the EU has agreed to reduce energy consumption by 11.7% by 2030.

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