at the same time piper sandler upgraded from neutral to overweight. hold the buy.keep in mind, this is currently a $701 stock. i love the analysts face-offs because they help us pit the best arguments of the bulls against the bess arguments of the bears. it makes it easier to understand where you stand. let's start with a hit piece presented by the team of analysts at barclays. they argue and i quote, netflix's preem valuation is predicated on them being in the negative growth for some time, end quote. they think it is hard for the streaming giant to hit numbers. in fact, they argue even if netflix hits the revenue targets the current valuation assumes the company can more than double subscriber base. as i see it netflix is a slowing growth story that trades like a steady growth story. in their view while the company has levers to boost growth, these all come with serious trade-offs. in short, outsize growth barclays believes netflix will find it harder to keep delivering which is a problem. hard to justify a premium valuation if they can't maintain a double-dig it

piper sandler chief investment strategist michael cant wits.en things for multiple expansion and what drives that is and now earnings expansion. >> yeah. well, if you think about the bear market in 2022, it was largely a function in the of earnings, but of multiples compressing on the back of higher interest rates, inflation if concern and fed if tightening. and so over the last year behalf or so, two years, we've kind of priced out that risk in the market and, therefore, you've seen multiple expansion rise alongside is inflation fears and higher interest rates fears dissipating. so now with multiples i would say pretty fairly valued reflecting a really good backdrop. from here we really want to focus on which companies continue to maintain an earnings momentum while the macro backdrop has been priced for somewhat perfection. charles: speaking of earnings, for me what's intriguing is after the first quarter all these earnings estimates went through the roof, and they're been slowly coming down. but this third quarter, they've come down a lot, a

. >>> first, beyond nvidia, we layout the stock playbook and piper sandler's picks. >>> and alrol ads lead through the white house. >>> and gearing up for that report. we have a very busy hour still ahead when "worldwide exchange." stay with us. it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall. change of plans, i've decided to stay local. oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation. heard my name! i swear to god, kevin! -we told you to wait in the car. everyone in my old squad has xfinity. less lag, better gaming! i'm gonna need to charge you for three people. >>> welcome back to "worldwide exchange." cisco announcing today the first a.i. servers and pods to be a plug and play. cisco is partnering with nvidia an

that continue to work their way higher in here. >> i want to ask you about these additions to the piper sandler portfolio. is this simply based on the chart or are there trends you're seeing a wide variety of stocks here. toast is restaurant tech and scottsmiracle-gro is a fertilizer and things like that. marvel is a chip maker are there commonalities in these names or stories for each one? >> i think particular stories for each one we are focused on trend, strength, momentum, and we run this as a diversified portfolio so we will make some slight sector overweights and underweight bets in the portfolio but for the most part we are trying to find the bottoms up constructive looking trends and themes. again, constructive not only earnings growth but momentum with the names. >> craig johnson, 6100 for 2025 and 6600 great to see you. >> thanks. >>> a market flash on qualcomm bloomberg is reporting cancellation of a agreement that allows them from arm to design chips. look at the shares from both companies. >>> coming up, getting ready for tesla results and if elon musk can fit a conference call int

. >> piper sandler goes up to 800 from 650, tv cowling goes from 822775 the password crackdown is workinghis is a company that is at 50% in the first half of the year, also we got numbers for the first half, 94 billion hours were watched on netflix in the first half of this year, it is incredible. stuart: is at 708 now payment piper sandler goes to 800 and cowling goes to 820. >> we had a lot of recommendations of netflix it has been moving up, look at this apple got a downgrade, who did that. >> jeffries cut to a hold from a buy the price target goes to pretty specific, 21292 in terms of their models it's giving a specific number, the market expectation for the iphone 16 and the 17 are pretty overvalued they do not think the 5 - 10% unit growth for the phones is going to work out to be that much. we will have to see those things on sale, how do they do. stuart: mike rounds present in their ceo reportedly self-service stock, how much is it going to sell ny. >> the ceo as you mentioned he wants to sell $20 million in shares, remember starting november 7 ceos can layout and that plan what t

careen is piper sandler's research analyst.or having me on. >> i don't know if you covered footwear, but crocs seems to be on the way out. is that so? >> that is. i'm not the analyst that covers crocs, but we did see in our survey, it is oneof the brands on its way out for fashion trends. >> you know, the stanley cup is on its way out. they said lululemon is on the way out. the stock figured that out a little while ago, so that whole fashion trend they're looking for something new. what is going on in the beauty category? we've seen those stocks under some pressure. is it china, is it amazon taking share? what did you glean there this? >> a lot going on in beauty. china has been a pressure point for global beauty for several years, but we're seeing primarily in the u.s., we have a weaker consumer, a little more frugal of a consumer. there's a little less money, so we're seeing that show up in the market data, and we saw it show up in our survey results. we're seeing that amazon is gaining share, more brands are starting to sell

. >> they get a lot of mileage out of this teen survey at piper sandler, don't they?go all over the map. apparently, they watch at least the male teens watch amazon and cable. who knew? they're still watching cable, male teens? >> are they watching it through youtube? >> probably. >> we know that goldfish remain teens' favorite snack. >> i haven't gotten out of my teens when it comes to goldfish. >> at least four straight reports where goldfish has been number one. >> goldfish is incredible. it's a great snack. >> mark from campbell's has done great extensions of goldfish, and i like campbell's here. if you want to be in the food stocks, they have a very defensible position. >> purity. just go with the old-fashioned, straight-ahead goldfish. >> the other surprise is nike on footwear preference and athletic wear, just number one, report after report. >> but slipping. but not -- new balance, nipping. but i made -- it made me think that the nike term, which david said would take multiple years, may not be as difficult to accomplish if you have someone who knows shoes as

more demand and more pricing power, as tenants needs workarounds, according to a new report from piper sandlerentory. you may remember cold storage demand rise during the first years of pandemic. >> and then terreno raised prices during the first years of covid for container storage, and then pulled back a bit, but now they could go back up again. i spoke with prolodgis. they said they are providing some parking areas. they will continue adjusting operations, depending on how the situation evolves. this, again, is all if the strike is short term. if there's a complete port shutdown, then really everyone loses, because there's no goods coming in and out of warehouses anymore, and that will hit hard. >> you said it's going to be brief or short term. it may not be. >> that's what i'm saying. this is a short-term play. >> no ships in port in newark the day i drove by. all those goods gotta go somewhere. >> and they're moving them around, trying to keep things where are in the short term. but, again, if this goes long term, you longer have no movement in and out of the ports. then everyone will los

piper sandler raising the call after catalysts remain to support momentum.tting to underweight and the growth picture is more complex. jpmorgan upgrading ally financial. despite the outlook on credit and margins, the stock already discounts most of that. >>> time for the global briefing. rio tinto confirms it is in talks to buy arcadium lithium. rio and arcadium were in discussions and arcadium could be worth 4 to $6 billion. that would make arcadium the largest lithium producer with the sharp slide in the metal. >>> ubisoft is reviewing options which it does on a regular basis. on friday, bloomberg reported the founding family and tencent were considering a buyout. the french company is the publisher of the popular game assassin's creek. >>> and shell warns of q3 refining margins which are under pressure due to slowing economic activity especially in china as new refineries come online. last week, exxonmobil warned a slump of oil would impact its results. >>> coming up on the show, one word every investor needs to know today and diving doeeper into the elec

piper sandler says the pc replacement cycle should be favorable this year.t's had a decent run. what are you concerned about? >> so i think that the concern that i have with best buy just as a general big box play is that if the fed pauses, and this is a big if, if the fed pauses and it does put a hiccup into a slowdown that was already percolating anyway and makes it a little worse, i do think that the kind of consumer discretionary names could actually get hurt. if you look at the trajectory, even most analysts who are forecasting kind of a really decent outlook for best buy anticipate at least two quarters of rough going before you start to get back into real growth. you're going to have to slog through this one no matter what happens, and so there's a little bit of downside risk in holding that, kind of the good numbers that might come a year from now. >> all right. because we have time, we'll mention your bonus buy. if the fed pauses, that is, drum roll, please, visa. why so? >> so, you know, look, i think that visa continues to benefit from the fact th

. >> piper sandler's new teen survey which surveyed over 13,000 teenagers across 47 states. nike remaining the number one brand in both apparel and footwear. piper noting the brand has lost mind share. up barely 2.5%. elf beauty remaining the position as aggen z's number on brand. instagram was found to be the most used platform among teenagers at 87% but still falls behind tiktok which is teen's favorite social media app. >> julia boorstin. just getting started. navigating the tech trade. eric jackson is back. live at the new york stock exchange. you're watching "closing bell" on cnbc. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. e*trade from morgan stanley power e*trade's easy to-use tools make complex trading less complicated. custom scans can help you find new trading opportunities, while an earnings tool helps you plan your trades and stay on top of the market. e*trade from morgan stanley do you

piper sandler saying celsius is the favorite in the latest teen survey.cs is exploring a sale to field acquisition requests. a person familiar told reuters. it spun off from trucking company xpo in 2021 any those shares are up 14%. scott in. >> pippa, thank you. >> up next, liz ann sonders and kevin gordon are both at post 9 and find out how they are positioning in the year end. the bell's back after this. ♪ ♪ >>> there's definitely tremendous opportunity for all of us in our country this is truly a country of opportunity. >> i have also learned that it's my responsibility to take advantage of those opportunities. you have to take some risks. there are many people around me that if you want to get to these levels you many times will have to sacrifice, you have to go the extra mile. you have to put the extra effort. (vo) time to move? make it easy with opendoor. sell your home in any season, for any reason. [vampire hiss] (vo) start your move at opendoor.com. daughter: hey, dad. dad: hey, sweetheart. daughter: what are you doing? dad: i'm gonna clean the f

mike also mentioned some of the tech moves and an upgrade from piper sandler.ding some of the fuel here. they say, despite that interest income headwinds, they see a lot of idiosyncratic near term opportunities. they say that's going to help drive earnings and called out some of the launch dates coming up for index options and futures trading. so up almost 10%. >> yeah, kate, thank you. we're going to watch those shares. we hear the bell ringing. no record close today, but nonetheless, a nice bounce back for stocks led by mega capps. am vi nvidia up 4%. that's a pretty sizable story, too, whether it's apple or amazon, and then microsoft and all those stocks in the green today. that's it for us. into overtime now with morgan and jon. >> that's the end of regulation. guardian pharmacy services ringing the bell. texas roadhouse doing the honors at the nasdaq. major averages getting some relief today. everything finishing higher. nvidia driving the nasdaq higher. energy, a notable decliner as wti crude had its worst day of the year. that's the scorecard on wall str

. >>> finally, robinhood named by piper sandler as one to watch. company's active trader summit next week, where they expect big announcements. the stock trumpjumping 10% toda. >> we're all sitting on this desk, and we had an analyst, guy remembers his name, that said this is the best way proxy to play bitcoin, and he was right. and when you look at it, it's up 100% year to date, but if you pulled back the lens, the chart is terrible. so, they've done a hell of a lot of marketing, they got a lot of funds in, they did a lot of trading, and they've been able to attract the next dollar, so, that's been great for them. >> also, when you think of robinhood, you might think of it the original day, it was very active traders, and now they have offerings for all sorts of traders, including ones that are longer term investors. >> i can't help but think of the gamification. >> it had that huge fall-off about three, four months ago. we talked about it at the time. went a lot lower than i thought. you had to stay with the same. and i think you have to stay wit

the last iteration of the semi-annual piper sandler teen survey very useful poll of thousands of teensat i can only call mixed results. it held on to the number one spot as favorite brand in footwear and apparel for all teens and still number one by a large margin. that's very good for nike. that's why i wouldn't write it off. but a year ago 61% of the teens called it their favorite footwear brand. that's down to 57 in the latest survey because of quality concerns a lot of people have and a lack of newness. i think the downward mind share trajectory is going to continue. done ojo did some real damage to the company. the quality of the companition products is perceived to be notably weaker. done ojo was a tech guy not a shoe guy. he focused too much on growing the digital business and not enough on the actual merchandise something that doesn't fly if you want to try on the shoes p and who buys expensive shoes without trying them on? i believe nut management team led by elliott hill can fix this. they're shoe uys. but i'd like to see a little more evidence before declaring the turnaround

i want to bring in piper sandler's managing director and senior economist jake o to bina -- obina. i want to talk about what we were just talking about, it's sort of always lingering out there, you know? it's sort of geopolitical risk, it's been high on the risk scale ever since the russia-ukraine invasion. from her point of view if they take out maybe the oil, that hurts -- hurts us, right, but for the most part, are there any direct implications for our economy with what's happening there? >> i think the biggest risk is that, a retaliation that actually targets oil production facilities. opec's been keen to push out their production increases. they did that earlier this month, pushing it out to december, so you're going into a tighter supply backdrop. yes, oil's been coming down, but you could see a pretty big reversal if that were to happen. and oil prices spiking, energy prices spiking in the past have slipped the economy from slowing into a recession, so i think that's what we have to worry about. charles: manufacturing out today tom manufacturing irk sm, okay so, folks, this

. >> piper sandler's analyst told me, look, when you look at insurance stocks, when you see a big hurricane down they will lose some ground, but insurers always figure out a way to make it up. >> and that's why the charts look the way they look, because they always increase the premium, to your point. second derivative trade is home depot and lowe's. there's going to be rebuilding. lowe's at an all-time high. home depot i believe is close to an all-time high. lowe's up 24% year-to-date. the chart looks great. a little better than home depot now but it is the second derivative trade on the rebuild. >> and generac. what happens after a big storm is people are reminded they're not safe even living inland and you start to see people taking it more seriously, the risk of having power outages for extended periods of time. >>> all right. coming up, is there any hope left for manufacturing renaissance in the united states? what next month's election could mean for the future of the country's industrial sector. >>> but first, tesla finally unveiled its robo taxi concept, and investors -- it was like

on netflix, shares are lower by three quarters of a percent despite receiving an overrate from piper sandlerthat consensus margins could be conservative in 2025 and '26 based on the incremental margins the last few quarters so also a drag down .75%. for more on those and other calls of the day, head to cnbc.com/pro to get the full story there. becky, back to you guys. it really is a big drag on the megacap tech names this morning. >> come, thank you. >>> coming up, what's ahead for interest rates after friday's jobs number. and later congressman chuck edwards joins us from north carolina with the latest on the cleanup for hurricane helene, this is "squawk box" on cnbc. discovering innovation today, helps drive growth tomorrow. as a leading global asset manager, pgim has established a track record of helping investors capitalize on growth opportunities. pgim investments. shaping tomorrow, today. ♪♪ from this can't miss moment... ...to this hello new grandpa moment... ...to that whatever this is moment... your moments are worth protecting against rsv. if you're 75 or older, or 60 or older with

power as tenants need workarounds for goods in containers, this according to a new report from piper sandleres to watch? let's start with lineage logistics, it benefits from increased demand to manage food inventory in the case of port disruptions. you may recall them seeing more demand during the first years of the pandemic, especially when vaccines required sold storage. now we're talking food. then terreno will have strong demand for truck parking. they raised prices during covid for container storage on their properties and pulled them back a bit. they could go back up a again now. i spoke with prologis and they are providing parking areas to temporarily story inventory. they said customers are evaluating different options and will adjust depending on how to situation evolves. again, this is all if the strike is short term. if there's a port shutdown long enough from the economy suffers, then really everyone loses because no new goods come into warehouses and it all just kind of grinds to a halt, carl. >> that's the scenario the market is trying to gain out. thank you, watching the port

piper sandler chief investment strategist michael cantor joins us.kets are expensive but unless a risk arises, it will stay expensive. can you talk a bit about that? >> sure. i'm sure you guys have people coming on and talking about whether they're bullish or bearish due to valuations. for sure, pretty much all valuation models have pointed to the market being expensive for quite some time. we always approach this from a catalyst perspective. in other words, trying to understand what's driving multiples, why have they gone up so much in the last two years, and are those trends still in place forfurther multiple expansion? this case i think it's the pricing out of the risks of two years ago. inflation, higher interest rates, fed tightening, that have largely been priced out of equities, which is why the market is largely where it is today. so going forward, an expensive market is not on its own a reason to get bearish. if we had another spike in interest rates, another resurgence of inflation, or we saw the narrative turn back to recession fears, from

piper sandler said margins could be conservative in '25 and '26 based upon the margins over the lastith a check on apple. shares are lower, down about half a percent after jeffries downgraded that stock from a hold to buy saying near-term expectations for the iphone 16 are too high. they also said they believe apple's artificial intelligence won't reach commercialization for another two to three years. back over to you, carl. >> definitely weighing on the major indices, d.om thanks. "money movers" begins after this. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. our friend sold their policy to help pay their medical bills, and that got me thinking. maybe selling our policy could help with our retirement. i'm skeptical, so i did some research and called coventry direct. they explained life insurance is a valuable asset that can be sold. we

this is a report from piper sandler who said former trade representative robert lighthizer has been briefingnvestor groups. he said trump could announce 60% tariffs on china and 10% across the board tariffs shortly after taking office. when asked about the report, though, the trump campaign press secretary did not deny lighthizer has been meeting with investors, but said, in his words, or her words, no policy should be deemed official unlesses it comes directly from president trump. lighthizer has been advising the campaign on the economic issues and a board member of trump media. the trump media shares soar up more than 60% in the month of october and now about double from its lows. >>> right now, let's get to the latest nbc news poll. it shows a deadlocked race just three weeks before election day. among support from registered voters, harris and trump are each at 48% in a head-to-head match up with 4% saying they're undecided or wouldn't vote for either. that is a change from the september poll which showed harris leading trump by five points. although, that was the result was within the