My top 10 things to watch Monday, Oct. 14
1. Wall Street looked calm Monday morning as investors geared up for a busier week of corporate earnings. The S&P 500 and Dow are coming off record closes Friday. Morgan Stanley and Abbott Laboratories are the two Investing Club stocks set to report this week.
2. Was Wells Fargo‘s earnings report the best of the batch on Friday? There’s a strong case to be made, as I laid out in my Sunday column for Investing Club subscribers. Piper Sandler upped its price target to $62 a share from $60 and kept its neutral rating — really? Barclays was more bullish, going to $75 a share from $66 and keeping its buy-equivalent overweight.
3. Why do people cling to buying Boeing when it must do a huge fund-raise to pay down debt? Makes no sense to me. For example, JPMorgan kept its overweight rating but cut its PT to $195 a share from $235. It should downgrade the struggling plane maker, which late Friday announced major job cuts amid mounting losses and a prolonged machinist strike.
