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Home Blog Page 8604

Carvana Stock is Down 98 percent YTD and The Situation is Likely to Get Worse

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Carvana (NYSE: CVNA) stock has experienced a significant decline in 2022, with shares trading almost 98% lower year-to-date (YTD). Some media reports have suggested that the used car retailer could be at risk of bankruptcy.
Analysts at Wedbush provided their views on the company, stating that while bankruptcy is unlikely to be imminent, the situation for the company will only get worse. The analysts revised their estimates downward, now expecting 85,000 units to be sold in Q4, compared to their previous estimate of 94,000 and the Street estimate of 96,000.

Carvana

The analysts believe that declining used car prices and an increase in Carvana’s inventory levels, which stand at 87 days, are cause for concern. They recommend the company focus on reducing costs and leverage its unencumbered real estate to raise cash.

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https://cweb.com/why-you-should-buy-genius-brands-stock-cheapest-stock-in-the-entertainment-field/

Nio’s Overweight Rating Reiterated Despite Guidance Cut

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Morgan Stanley reiterated its Overweight rating and $16.10 price target on Nio Inc. (NYSE:NIO) after the Chinese electric vehicle maker announced a cut in its Q4 delivery guidance to 38.5-39.5k units (from 43-48k). The analysts noted that the guidance cut was mainly due to disruptions in deliveries and production caused by the Covid-19 pandemic, as well as ongoing supply constraints due to rising Covid cases in major cities.
The analysts added that while the guidance cut may impact NIO’s stock performance, it should not trigger a sharp sell-off, as the impact of China’s reopening is likely to be sector-wide and transitional. The analysts expect that in the coming months, the market will focus on the resurgence of store traffic and order intake.

CarMax’s Overweight Rating Maintained at Morgan Stanley, Price Target Cut to $75

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Morgan Stanley maintained its Overweight rating on CarMax (NYSE:KMX) but lowered its price target from $90 to $75 per share. In a note to clients, the analysts explained that CarMax’s forecasts are “first in” the downturn of the used car market, and the multiple has significantly decreased on a normalized/recovered earnings basis.
Despite the challenges facing the used car market, analysts remain relatively positive on CarMax, as earnings revisions for the fiscal year 2023 have taken the company’s forecast to levels that are less than half those achieved before the COVID-19 pandemic.
The analysts added that CarMax has consistently generated more than $2,000 in gross profit per unit (GPU) even in the current downturn of the used car market and it has one of the strongest balance sheets amongst the used car dealers.

Amazon to Launch Standalone Sports Streaming App, According to The Information

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According to a report from The Information, Amazon (NASDAQ:AMZN) is considering launching a standalone app for sports content. The move is rumored to be part of CEO Andy Jassy’s efforts to increase the company’s streaming ambitions, with live sports viewed as a “unique asset” within the business.
Amazon already has some streaming rights for sports events, such as Premier League matches and NFL’s Thursday Night Football, which are included in its standard Prime membership. The company is said to believe that a standalone app would better highlight its sports content offerings and declutter its current Prime Video app.


It is not yet clear if or when the app will be launched, or whether Amazon will charge separately for sports content. The company is not the only one looking to expand its live sports streaming offerings, with both Google and Apple making moves in the market this year.

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Groupon Shares Attractive After 15 percent Drop Post Q4

PGA News: Matt Fitzpatrick: I’ll room with Sergio to win Ryder Cup

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At least one potential member of Europe’s Ryder Cup team for 2023 said he is willing to overlook the controversies of the past year in order to author a defeat of the United States.

England’s Matt Fitzpatrick made a case to have Spain’s Sergio Garcia on the Europe Ryder Cup team despite the latter’s move to the Saudi-funded LIV tour in 2022.

The Ryder Cup will take place in Rome over the summer as Europe aims to avoid a loss to the United States on European soil for the first time since 1993.

“I think there definitely are a few personal relationships that have been dented by this,” Fitzpatrick said to Sky Sports News. “I’m not bothered, I just want to win, and I’m sure those boys do too.”

Northern Ireland’s Rory McIlroy, another likely player on Team Europe, has been critical of players making the move to LIV. But Team Europe, which is being led by captain Luke Donald, has not announced if it will proceed without LIV players.

Europe players who are in limbo include Garcia, as well as England’s Ian Poulter and Lee Westwood. Henrik Stenson of Sweden was removed from his captain post after his move to LIV. The United States has elected to move on without LIV participants like Dustin Johnson and Patrick Reed.

“Sergio would be the one that would stand out for me, particularly,” Fitzpatrick said in his view of the European team. “I don’t know the details of (his relationship with McIlroy). … I’m happy to share a room with him, if that’s going to be the case. I can corner him off for everyone else.”

The United States routed Europe in the most recent Ryder Cup in 2021 at Whistling Straits in Wisconsin. That event was delayed a year by the COVID-19 pandemic. Before that U.S. victory, Europe had won four of the previous five competitions, including three consecutive at one point.

While Fitzpatrick is willing to partner with LIV participants in order to bring a Ryder Cup title back to Europe, his compassion for those players has its limits.

“As long as you go (to LIV) and don’t come back, I don’t have an issue,” Fitzpatrick said to Sky Sports. “Go take the money, go play wherever you want, I could not care less, just don’t come back and then take spots from other guys that want to play.”

–Field Level Media

Cantor Fitzgerald’s Top Tech Stocks for 2023

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Cantor Fitzgerald believes that tech stocks present an appealing opportunity for long-term investors seeking growth exposure. In a note to clients, the analysts highlighted several stocks that they believe have strong potential to outperform in 2023.
In the software sector, Udemy (NASDAQ:UDMY) is a top pick. Grid Dynamics (NASDAQ:GDYN) was highlighted as the top fintech pick, while Digi International (NASDAQ:DGII) and Riot Blockchain (NASDAQ:RIOT) were identified as top sustainability and crypto picks, respectively.
Cantor’s top Industrial & Mobility pick for 2023 is Rivian Automotive (NASDAQ:RIVN). In his note, the analysts cited the company’s strong liquidity of approximately $13 billion in cash and the potential for Rivian to receive federal funds by opening its own charging network as reasons why the risk-reward ratio is attractive at current levels. Palo Alto Networks (NASDAQ:PANW) was also identified as the top stock to own in the Security & Infrastructure Software sector.

PG Elliot Cadeau, top ’24 recruit, commits to UNC


Elliot Cadeau, one of the highest-rated point guards in the Class of 2024, committed to the University of North Carolina on Wednesday.

Cadeau is a junior from New Jersey who attends Link Academy in Branson, Mo. Before settling on the Tar Heels, the 6-footer considered offers from Louisville, Texas, Kansas, Texas Tech and Syracuse. His only official visits were to Louisville, Texas Tech and North Carolina.

He told ESPN, “When I think about UNC, I see a winning culture and I want to be a part of it.”

ESPN ranks Cadeau as the No. 2 point guard and the No. 11 overall prospect in his class. 247 Sports lists him as the No. 1 point guard and the No. 8 overall recruit.

Cadeau told ESPN of the Tar Heels’ coach, “Hubert Davis has been recruiting me for a long time. He has made me a priority, and that means a lot to me. He said I would have a chance to start. Coach Davis is a genuine guy.”

Now that he has picked his destination, Cadeau next must decide if he will reclassify to the Class of 2023, which would allow him to play for the Tar Heels next fall.

North Carolina (9-4, 1-1 Atlantic Coast Conference) re-entered the AP Top 25 this week at No. 25 after beating Ohio State and Michigan in its past two games. The Tar Heels have won four in a row as they resume ACC play on Friday at Pitt.

–Field Level Media

No. 22 New Mexico remains perfect, throttles Colorado State


Playing its first game as a ranked team since March 2014, No. 22 New Mexico looked the part Wednesday night, getting five 3-pointers and a game-high 26 points from Jaelen House in an 88-69 whipping of Colorado State in Albuquerque, N.M.

Jamal Mashburn, Jr. added 19 points for the Lobos (13-0, 1-0 Mountain West) and KJ Jenkins hit for 11 in the conference opener for both teams. Morris Udeze chipped in a 10-point, 13-rebound double-double as New Mexico hit 15 of 25 3-pointers and earned a 28-6 advantage in fast-break points.

John Tonje and Patrick Cartier each scored 16 points for the Rams (8-6, 0-1) and Isaiah Rivera added 12. But leading scorer Isaiah Stevens made just 4 of 15 shots and finished with just 10 points, eight under his average, while committing five of his team’s 14 turnovers that the Lobos cashed in for 19 points.

New Mexico earned most of its nonconference wins against a light schedule, although it did play impressively when facing quality opposition. The Lobos won at Saint Mary’s, beat San Francisco on a neutral floor and stopped Iona at home in a much-ballyhooed matchup of father and son on the sideline as New Mexico coach Richard Pitino sent his father, Rick, home with a loss.

It didn’t take long to see that Colorado State would be in trouble in this one. New Mexico entered the game shooting just 33 percent from 3-point land but drilled 10 of its first 14 en route to a 44-22 lead less than 16 minutes into the game.

House led the onslaught by canning all four of his 3-pointers in the half on his way to a 16-point half. The Lobos struck a nice balance of perimeter shots and rim attacks, making 11 first-half 3-point attempts and earning an 11-1 advantage in free-throw attempts as they established a 49-24 cushion at the break.

A 12-3 burst enabled the Rams to close within 52-36 early in the second half but they never truly threatened New Mexico after that.

–Field Level Media

No. 22 Xavier holds on to beat St. John’s for seventh-straight victory


Jack Nunge totaled 23 points and 12 rebounds as No. 22 Xavier built a big lead and held on for an 84-79 victory over host St. John’s Wednesday night in New York to extend its winning streak to seven games.

Xavier (11-3, 3-0) is off to its fourth 3-0 start since becoming a Big East member and lived up to its billing as the conference’s top offense while leading for the final 35:20 thanks to an early 16-0 run before sweating out the final minutes.

Nunge scored 12 points in Xavier’s dominant opening half but none during the early run. He made his first five shots and finished 10 of 14 overall after a 0-of-5 showing last week against Seton Hall.

Nunge posted his third double-double and helped Xavier outrebound the Red Storm 48-36 and score 48 points in the paint.

Souley Boum added 17 and six assists while Zach Freemantle contributed 14 and nine boards as Xavier shot 45.7 percent.

David Jones collected 19 and 10 rebounds for the Red Storm (11-3, 1-2) who faltered in their second game against a ranked opponent. Joel Soriano added 14 but was held without a double-double for the third time.

Montez Mathis chipped in 14 and Posh Alexander finished with 11 as the Red Storm shot 43.1 percent and missed 17 layups.

After a two-handed dunk by Jones gave St John’s a 12-11 lead with 15:38 remaining, Xavier ripped off nine straight points in 82 seconds and Nunge’s layup forced Red Storm to call a timeout after being unable to take one on the previous possession.

Following the timeout Jerome Hunter dunked, Cesare Edwards hit a layup and Boum hit a 3-pointer for a 27-12 edge with 12:59 remaining.

Nunge made his fifth straight field goal when his 3 banked off the glass for a 42-26 lead with 4:54 left and Xavier held a 48-37 lead by halftime.
Nunge’s hook shot in the lane opened a 67-49 lead with about 10 minutes left.

St John’s finally made a push in the final six-plus minutes, getting within 73-66 on a 3 by Jones with 5:38 left.

–Field Level Media

Trae Hannibal leads LSU past No. 9 Arkansas in SEC opener


Trae Hannibal scored a season-best 19 points to lead LSU to a 60-57 victory over No. 9 Arkansas on Wednesday night in the Southeastern Conference opener for both teams at Baton Rouge, La.

Derek Fountain recorded 14 points and 10 rebounds for the Tigers (12-1, 1-0 SEC), who notched their seventh consecutive victory.

Davonte Davis scored 16 points for the Razorbacks (11-2, 0-1), who had a seven-game winning streak of their own halted. Jordan Walsh had 13 points and nine rebounds and Ricky Council IV also scored 13 points with six rebounds.

LSU was able to hold on in a frantic finish.

A basket by Hannibal gave LSU a 56-53 with 1:12 remaining but Davis drained a jumper to bring Arkansas within one with 56.7 seconds left.

Hannibal scored on a layup with 32.9 seconds to go but Anthony Black scored on a put-back with 21.1 seconds remaining as the Razorbacks again pulled within one.

Makhi Mitchell blocked Fountain’s shot with 8.5 seconds left and Arkansas had a chance to take the lead. But Council turned the ball over before LSU’s Adam Miller was fouled, and Miller made two free throws to give the Tigers a three-point lead with 1.8 seconds to go.

Walsh’s midcourt shot caromed off the rim as time expired.

LSU made 40.3 percent of its attempts and was 4 of 17 from behind the arc.

Arkansas shot 36.9 percent from the field, but shot just 16 percent (4 of 25) from 3-point range.

Davis made Arkansas’ first 3-pointer of the game (on attempt No. 14) to tie the score at 24 with 18:30 remaining.

Walsh and Council each made 3-pointers during an 8-2 push as the Razorbacks took a 40-34 lead with 10:21 left.

LSU responded with a 10-2 burst — capped by back-to-back baskets by Derek Fountain — to take a 44-42 lead with 7:06 left.

Arkansas moved back ahead at 51-49 on two free throws by Mitchell with 3:46 left in the game. Hannibal’s layup tied the score with 2:53 remaining.

A three-point play by Fountain gave LSU a 54-52 lead with 2:28 left

LSU led 24-19 at the break despite making just 10 of 34 shots (29.4 percent).

But Arkansas was worse at 27.3 percent (9 of 33) and missed all 13 3-point attempts before intermission.

–Field Level Media