(This is CNBC Pro’s live coverage of Friday analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) With more than 60% of quarterly earnings reports in the books, analysts continued to look for winners and losers from S & P 500 companies. Pinterest rocked the market after hours Thursday when it released earnings guidance that was below expectations, sending shares down more than 9% in premarket trading. However, analysts largely have not soured on the visual discovery company, based on expected opportunities ahead. Elsewhere, Citi boosted Liberty Global ahead of the telecom’s earnings report next week, and Morgan Stanley sees opportunity in aerospace leader TransDigm. United Airlines’ shares got a premarket lift following an upgrade at Evercore. 6:59 a.m. ET ‘New strategic era’ ahead for Costco, says Goldman Sachs Earlier this week, Costco announced a new chief financial officer for the first time in 40 years. This new move — which also marks Costco’s first external hire for the position — could be significant for the retailer, according to Goldman Sachs. “We see a new external hire possibly bringing in ideas based on previous experience which could include a focus on building out the company’s digital, media and/or fulfillment businesses,” analyst Kate McShane wrote in a Friday note. She added, “While this conclusion might appear to be a big leap given Costco’s ecommerce business is still relatively small as a percentage of sales, we think the build out of these alternative businesses could be the way of the future for those selling [groceries].” Incoming chief financial officer Gary Millerchip’s past experience at Kroger suggests Costco could focus more on alternative revenue streams, according to the analyst. McShane reiterated her buy rating and $749 price target on shares, which suggests 3.4% upside potential from its closing price on Thursday. — Hakyung Kim 6:39 a.m. ET United Airlines shares could surge…
2024-02-09 06:20:00
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