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    • OPEC Plus production cutsUnexpectedly detailed plan to unwind OPEC Plus production cuts makes it harder for members to maintain low production, potentially leading to market struggles and compliance issues

      The decision by OPEC plus to phase out voluntary production cuts is bearish for the oil market, according to Goldman Sachs analysts. The unexpectedly detailed default plan to unwind these cuts makes it harder for members to maintain low production if the market softens, potentially leading to continued struggles for OPEC Plus to continue with full cuts into 2025. Additionally, some members, such as Iraq and the UAE, have already shown a lack of compliance with their production targets. In other news, Morgan Stanley's E*TRADE is reportedly considering booting popular investor Roaring Kitty from its platform due to concerns over potential stock manipulation in the meme stock GameStop. Among active stocks, Bath and Body Works beat fiscal Q1 expectations on both the top and bottom lines.

    • Financial outlooks and expectationsCompanies update financial outlooks, Realty Income raises earnings and revenue guidance, SentinelOne upgraded despite trimmed 2025 guidance, Intel introduces new processors, AI development drives tech industry growth, Goldman Sachs adds and removes stocks from conviction list

      Several companies have updated their financial outlooks and expectations for the future. Realty Income raised the midpoint of its earnings and revenue guidance for fiscal 2024, expecting net sales to range between a decline of 2.5% to flat. The REIT also increased its expected investment volume for the year to about $3 billion. SentinelOne was upgraded to a buy rating by Canaccord Genuity, despite the company trimming its 2025 guidance and lowering the price target. The analysts remain bullish on SentinelOne's long-term prospects as a data-driven security platform. Intel introduced new processors and AI chips, aiming to regain market share in the data center sector. Taiwan Semiconductor held discussions with customers about moving chip facilities off the island nation due to tensions with China, but such a move is impossible. AI development is expected to drive a recovery in the tech industry, with 10% growth forecasted for the chip market in 2024, excluding the memory sector. Goldman Sachs added five stocks to its conviction list, including Enphase, Sempra, Edwards Lifesciences, Teradyne, and Brixmor Property Group. Conversely, First Solar, Southern Company, Target, and Simon Property Group were removed from the list. Overall, these updates and developments reflect the ongoing dynamics and shifts in various industries and markets.

    • Goldman Sachs convictionless director's cutGoldman Sachs provides a list of 20-25 stocks with buy recommendations, reflecting their confidence and serving as a useful resource for investors

      Goldman Sachs has been offering a curated list of 20 to 25 stocks with buy recommendations for a year now, under the name of "convictionless director's cut." Five new additions to this list have been recently announced, which you can read more about in our analysis on Seeking Alpha. This list is a reflection of Goldman's confidence in these particular stocks, and it serves as a useful resource for investors looking for guidance on potential buys. Keep in mind that these episodes will be available with transcriptions at seekingalpha.com/wsp, and joining the Seeking Alpha community can provide you with valuable insights and discussions on any stock or ETF.

    Recent Episodes from Wall Street Breakfast

    Softer retail sales, rate cuts and tech's top targets

    Softer retail sales, rate cuts and tech's top targets
    Nasdaq, S&P, Dow drift after retail sales come in softer than expected (0:35). 2 Fed rate cuts in 2024 and 6 in 2025? (1:47). Nvidia driving things; anxiety about 2nd half of the year (2:50). Apple price target raised; tech bull market 'is just starting.' (4:00). Crypto eventually going to be in every portfolio (7:20).

    Episode transcripts: seekingalpha.com/wsb

    Show links: 
    Nvidia rises after Rosenblatt sets Street High PT of $200
    Invesco sees two rate cuts this year while KPMG sees six in 2025; SA Summit
    Apple's price target raised at J.P. Morgan on AI boost to iPhones
    Tech bull market to last another 2–3 years
    Powell And The Fed Are More Hawkish Than You Think: Expect Economic Weakness Ahead





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    Supreme Court refuses to hear Florida sports betting case

    Supreme Court refuses to hear Florida sports betting case
    U.S. Supreme Court refuses to hear challenge to Florida's online sports betting compact. (00:30) Chegg (CHGG) jumps over 9% after announcing headcount reduction, restructuring. (01:39) McDonald's (MCD) ends drive-thru AI partnership with IBM as it looks for a broad voice ordering solution. (02:15)

    Episode transcripts seekingalpha.com/wsb.

    Show links: 
    J.P. Morgan’s top picks within Defensives
    Most shorted S&P 500 stocks in May
    Biden set to reopen U.S. oil reserves if gasoline prices surge again - FT

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    Social media can be hazardous to your health

    Social media can be hazardous to your health
    The Surgeon General calls for mental health warning on social media. (0:16) BofA gets more bullish on chips. (2:54) Evercore puts Street-high target of 6,000 on the S&P. (4:25)

    Show Notes
    Next Apple Watch likely to have larger screen sizes, be 3D printed
    Five catalysts that could propel Costco even higher

    Episode transcripts seekingalpha.com/wsb
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    Toyota faces shareholder revolt over chairman seat

    Toyota faces shareholder revolt over chairman seat
    Toyota (TM) proxy advisers demand vote against chairman amid scandal. (00:25) Boeing (BA) whistleblower reports to FAA have jumped since 737 incident. (02:10) Federal Reserve is well poised to be patient on rate moves, Kashkari says. (03:00)

    Episode transcripts seekingalpha.com/wsb.

    Show links: 
    Ozempic drives more demand for smaller clothes, WSJ reports
    10 predictions on how artificial intelligence will reshape the world: UBS
    SA Asks: What is the No. 1 cybersecurity threat facing companies today?

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    Retail highlights a holiday week

    Retail highlights a holiday week
    Retail sales are expected to climb for the first time since January. (0:18) How can you build a rate-agnostic portfolio? (1:34) Deadpool & Wolverine set for a record open. (3:52)

    Show Notes
    Goldman Sachs raises its S&P 500 year-end target to a joint Street high at 5,600
    Earnings calendar
    Catalyst Watch

    Episode transcripts seekingalpha.com/wsb
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    EV tariff battle

    EV tariff battle
    China hits back at EU tariff on EVs as Tesla asks for exemption. (0:16) PPI adds to the soft landing picture. (1:42 ) Citi paints bleak picture for oil. (5:11)

    Show Notes
    Chinese stocks with improving earnings momentum and expectations of margin expansion
    Broadcom soars as Q2 results, stock split buoy hopes

    Episode transcripts seekingalpha.com/wsb
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    Elon Musk: Tesla shareholders on track to approve pay and Texas move

    Elon Musk: Tesla shareholders on track to approve pay and Texas move
    Elon Musk: Tesla (TSLA) shareholders vote for CEO pay package, Texas move by 'wide margins'. (00:23) Meta plans to make company leaner, cut down on VP positions: report. (01:36) Terraform Labs to pay $4.47B to resolve SEC lawsuit. (02:07) 

    Episode transcripts seekingalpha.com/wsb.

    Show links: 
    Biggest stock movers today: TSLA, AVGO, and more
    Apple is not paying OpenAI for ChatGPT deal - report
    Appeals court vacates ruling banning Amazon from firing pro-union workers
    Ships will not return to Red Sea 'anytime soon' even with ceasefire, Frontline CEO says
    GameStop is holding its annual meeting. Does Ryan Cohen have a surprise ready?

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    Stocks jump on cool inflation, steady Fed

    Stocks jump on cool inflation, steady Fed
    Fed holds rates, now sees just one rate cut in 2024. (2:11) May CPI comes in cooler than expected. (3:26) Nasdaq, S&P rally to new record highs as yields sink. (0:54) 

    Show Notes
    Seeking Alpha community still favors first Fed cut in September
    Oracle has best day in years as Wall Street heaps hype on strong bookings, guidance
    Global oil markets set for major surplus this decade, IEA says

    Episode transcripts seekingalpha.com/wsb

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    Paramount merger talks with Skydance called off

    Paramount merger talks with Skydance called off
    Paramount Global (PARA) sinks amid reports Shari Redstone ended talks with Skydance. (00:24)  Musk drops lawsuit against OpenAI: report. (01:31)  U.S. to widen sanctions on chip sales to Russia, targeting resellers in China - report. (02:16)

    Episode transcripts seekingalpha.com/wsb.

    Show links: 
    Biggest stock movers today: ORCL, RTO, and more
    No hot dog for you! Joey Chestnut banned from Nathan's iconic contest
    Takeaways from Baird’s Global Consumer, Technology & Services Conference within Restaurants
    Stocks with quality growth stories within Apparel, footwear and fitness - Baird
    Changing energy market demands holistic view: Seeking Alpha Investing Summit Preview

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    Musk threatens Apple ban

    Musk threatens Apple ban
    Elon Musk calls Apple's AI plans a security violation. (0:16) Strategist warns hot CPI could tank risk assets. (1:46) Ford named top auto sector pick. (3:08)

    Show Notes
    Tesla topped Chevron as most shorted large-cap stock in May
    Supreme Court seeks Biden administration views on Honolulu climate lawsuit
    General Motors approves new $6B share repurchase program

    Episode transcripts seekingalpha.com/wsb
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