2 Iconic Consumer Stocks Are Lighting Up the Market
We went searching for the best stocks in two consumer sectors. Here’s what we found.
Tuesday’s Tech Bounce Holds as Elections Take the Stage
Semiconductors led a rebound that broke the S&P 500’s three-day losing streak, but the average stock fell.
Chip Rout Sends Nasdaq to Worst Month Since March 2025
Intel’s record drop leads a cascade in chip names with the S&P 500 and Nasdaq seeing their worst session since June, while defensive buying gave the Consumer Staples ETF its best month on record.
Elon Musk Just Predicted a Neocloud Bloodbath. CoreWeave Investors Should Listen.
AI demand may be booming, but SpaceX’s ability to shift GPU capacity gives it a flexibility most neocloud operators lack.
Are You Paying Attention to the Market’s Subtle Warnings?
Let’s look at the sentiment cycle chart to see where we are. Hint, while we’re not at ‘enthusiasm,’ we’re also not at ‘panic.’
Weekly Roundup: Renewed AI Concerns Weigh on the Market and Portfolio
We added to six holdings, and upgraded and lifted a price target on another as favorable AI data conflicted with market emotion.
Earnings Will Test Whether AI Growth Estimates Are Real
Chip stocks are bouncing Monday morning, but AI valuations built on predicted earnings are being questioned.
Upgrades, Downgrades and New Research Coverage
Upgrades:
ArcelorMittal ($MT) upgraded to Overweight from Neutral at JPMorgan
Array Technologies ($ARRY) upgraded to Outperform from Neutral at Mizuho, Target: $5
Bank of America ($BAC) upgraded to Outperform from Neutral at Baird, Target: $62
BorgWarner ($BWA) upgraded to Buy from Neutral at BofA, Target: $85
Brighthouse Financial ($BHF) upgraded to Neutral from Underweight at JPMorgan, Target: $55
CarMax ($KMX) upgraded to Buy from Underperform at BofA, Target: $65
Casey’s General Stores ($CASY) upgraded to Outperform from Sector Perform at RBC Capital, Target: $825
Cemex ($CX) upgraded to Buy from Neutral at Citi, Target: $12
Crocs ($CROX) upgraded to Overweight from Equal Weight at Barclays, Target: $139
Fortrea ($FTRE) upgraded to Buy from Hold at Deutsche Bank, Target: $25
Lithium Americas ($LAC) upgraded to Speculative Buy from Hold at Canaccord
Quantinuum ($QNT) upgraded to Overweight from Equal Weight at Morgan Stanley, Target: $62
Scotts Miracle-Gro ($SMG) upgraded to Buy from Neutral at UBS, Target: $70
Walmart ($WMT) upgraded to Buy from Hold at Deutsche Bank, Target: $136
Zions Bancorp ($ZION) upgraded to Outperform from Neutral at Baird, Target: $75
Downgrades:
Albertsons ($ACI) downgraded to Neutral from Overweight at JPMorgan, Target: $14
Albertsons ($ACI) downgraded to Neutral from Buy at Goldman Sachs, Target: $13
Align Technology ($ALGN) downgraded to Neutral from Outperform at Baird, Target: $162
Cirrus Logic ($CRUS) downgraded to Sector Weight from Overweight at KeyBanc
Dauch ($DCH) downgraded to Underperform from Buy at BofA, Target: $5
Envista ($NVST) downgraded to Neutral from Outperform at Baird, Target: $26
Par Pacific ($PARR) downgraded to Neutral from Buy at Goldman Sachs, Target: $94
Spotify ($SPOT) downgraded to Hold from Buy at StoneX
ZTO Express ($ZTO) downgraded to Neutral from Buy at Goldman Sachs, Target: $22
New research coverage
AngloGold Ashanti ($AU) initiated with a Buy at Goldman Sachs, Target: $104
Antero Resources ($AR) initiated with a Sector Outperform at Scotiabank, Target: $46
APA Corp. ($APA) initiated with a Sector Perform at Scotiabank, Target: $44
Black Hills ($BKH) initiated with a Buy at Jefferies, Target: $87
Bright Minds Biosciences ($DRUG) initiated with an Outperform at Wolfe Research, Target: $150
CAMP4 Therapeutics ($CAMP) initiated with a Buy at Needham, Target: $8
Chord Energy ($CHRD) initiated with a Sector Outperform at Scotiabank, Target: $192
CNX Resources (CNX) initiated with a Sector Perform at Scotiabank, Target: $34
Crescent Energy ($CRGY) initiated with a Sector Outperform at Scotiabank, Target: $18
CRISPR Therapeutics ($CRSP) initiated with a Neutral at UBS, Target: $52
Devon Energy ($DVN) initiated with a Sector Outperform at Scotiabank, Target: $61
Diamondback Energy ($FANG) initiated with a Sector Outperform at Scotiabank, Target: $250
Digital Turbine ($APPS) resumed with a Buy at Roth Capital, Target: $19
Eloxx Pharmaceuticals ($ELOX) initiated with an Overweight at Cantor Fitzgerald
EOG Resources ($EOG) initiated with a Sector Perform at Scotiabank, Target: $144
EQT Corporation ($EQT) initiated with a Sector Perform at Scotiabank, Target: $54
Establishment Labs ($ESTA) initiated with a Buy at Stifel, Target: $85
Fidelity National Information Services ($FIS) resumed with a Buy at BofA, Target: $42
First Financial Bankshares ($FFIN) initiated with a Market Perform at Raymond James
Fiserv ($FISV) resumed with an Underperform at BofA, Target: $48
Global Payments ($GPN) resumed with a Buy at BofA, Target: $114
Gold Fields ($GFI) initiated with a Neutral at Goldman Sachs, Target: $38
Gulfport Energy ($GPOR) initiated with a Sector Outperform at Scotiabank, Target: $217
HawkEye 360 ($HAWK) initiated with an Overweight at Piper Sandler, Target: $22
Hemab Therapeutics ($COAG) initiated with an Overweight at JPMorgan, Target: $70
Infinity Natural Resources ($INR) initiated with a Sector Outperform at Scotiabank, Target: $17
Magnolia Oil & Gas ($MGY) initiated with a Sector Outperform at Scotiabank, Target: $31
Matador Resources ($MTDR) initiated with a Sector Perform at Scotiabank, Target: $59
MGE Energy ($MGEE) initiated with a Neutral at JPMorgan, Target: $76
Murphy Oil ($MUR) initiated with a Sector Perform at Scotiabank, Target: $41
Netflix ($NFLX) assumed with a Buy at Jefferies, Target: $85
Northern Oil and Gas ($NOG) initiated with a Sector Perform at Scotiabank, Target: $27
onsemi ($ON) initiated with a Buy at StoneX, Target: $110
Ovid Therapeutics ($OVID) initiated with an Outperform at Wolfe Research, Target: $5
Permian Resources ($PR) initiated with a Sector Outperform at Scotiabank, Target: $29
Rapport Therapeutics ($RAPP) initiated with an Outperform at Wolfe Research, Target: $50
Rapport Therapeutics ($RAPP) initiated with a Buy at UBS, Target: $71
Redwire ($RDW) initiated with a Neutral at Piper Sandler, Target: $11
Shift4 Payments ($FOUR) resumed with a Neutral at BofA, Target: $42
Sight Sciences ($SGHT) initiated with a Buy at H.C. Wainwright, Target: $14
SM Energy ($SM) initiated with a Sector Perform at Scotiabank, Target: $39
Solid Biosciences ($SLDB) initiated with a Buy at UBS, Target: $20
Spectrum Brands ($SPB) resumed with a Buy at UBS, Target: $97
Suja Life ($SUJA) initiated with a Hold at Needham
Ultragenyx ($RARE) initiated with a Neutral at UBS, Target: $16
Vail Resorts ($MTN) initiated with a Market Perform at Citizens
Versant Media ($VSNT) initiated with an Equal Weight at Morgan Stanley, Target: $38
Viking Therapeutics ($VKTX) initiated with a Buy at UBS, Target: $94
Viper Energy ($VNOM) initiated with a Sector Outperform at Scotiabank, Target: $54
Warner Music Group ($WMG) initiated with a Buy at StoneX
Wave Life Sciences ($WVE) initiated with a Buy at UBS, Target: $11
York Space Systems ($YSS) initiated with a Neutral at Piper Sandler, Target: $9
Position: TheStreet Pro Portfolio is long BAC, NFLX
Hotter Inflation and AI Weakness End the S&P 500’s Run Without a 1% Drop
A hotter-than-expected September CPI report and a deepening selloff in AI names sent the S&P 500 down more than 1% for the first time in 54 sessions, with the Nasdaq and small caps falling nearly 2%.
The Consumer Is Spent Up, Not Pent Up (Part Deux)
From Bramo in support of my consumer is spent up and not pent up thesis:
From late August:
The Consumer Is Spent Up, Not Pent Up
* The cumulative or “stacked” inflation (since 2000) is weighing on the consumer sector
* This, coupled with the shrinking savings rate, is critical to the outlook for equities given the role of consumer spending and the large swath of stocks dependent on the consumer...
Combine the flatlining in real disposable income:
With the dwindling savings rate:
And the outlook for consumer spending over the next 12 months is poor. The shares of Costco ($COST), Walmart ($WMT), Dick’s Sporting Goods ($DKS) and other consumer-related equities already “know this.”
BY Doug Kass · Aug 27, 2026, 7:10 AM EDT
Position: None