CNBC Pro: Goldman Sachs says this global delivery platform’s shares are set to soar over 100%
Shares in this European delivery company are set to double over the next 12 months, according to analysts from Goldman Sachs.
The U.S. investment bank describes the company as a “market leader” of sorts and expects it to benefit from a “more competitive landscape.”
CNBC Pro subscribers can read more here.
— Amala Balakrishner
CNBC Pro: Outperforming portfolio manager names 5 discounted global stocks to buy right now
Many stocks have become “a bit cheaper” and investors could get good returns, according to Ted Alexander, chief investment officer of BML Funds.
Alexander manages the BML Global Fund, which was launched only in September. The fund aims to invest in strong businesses that are undervalued by the market, without a bias toward growth or value stocks.
He named five discounted stocks to consider right now, including one he calls a “long-term winner.”
CNBC Pro subscribers can read more here.
— Weizhen Tan
CNBC Pro: A ‘phenomenal’ stock: Irrationality has made this wealth manager look super cheap, investor says
Irrational behavior due to concerns over the stability of the U.S. banking system has made one wealth manager’s stock a cheap investment opportunity, according to value investor Daniel O’Keefe.
O’Keefe, who manages the Artisan Global Value Fund, believes this fear is unfounded and stems from a misunderstanding of the business.
CNBC Pro subscribers can read more here.
— Ganesh Rao
World Bank says sustained growth, but slowing momentum in the Asia Pacific region
The World Bank forecasts growth in in the developing East Asia and Pacific region to remain strong at 5% in 2023. However, its expects growth to ease in the second half of 2023 and fall to 4.5% in 2024, according to its regional update published on Sunday.
Regional growth in the Asia-Pacific region is estimated to come in higher than average growth projected for all other emerging market and developing economies. To be sure, the recent numbers are lower than were previously projected.
Growth in China in 2023 is projected to be 5.1%. Excluding China, regional growth is expected to come in at 4.6% .
— Hakyung Kim
Bitcoin rises to highest level since August
Crypto prices rallied on Monday, pushing bitcoin to its highest level more than six weeks.
Bitcoin rose more than 4.5% to $28,329, for its highest level since Aug. 17, when it traded as high as 29,108.3. Ether rose more than 3% to cross above $1,700.
Crypto-related stocks Coinbase, Marathon Digital, MicroStrategy and Riot all rose more than 5% in premarket trading.
— Hakyung Kim, Jesse Pound, Gina Francolla
Gold and silver drop to lowest price since March in early trading
December gold futures contracts fell to $1846.60 the ounce Monday, the lowest since March 10, 2023 (when it traded at $1830).
The price of gold in 2023.
December silver contracts similarly dropped to $21.725 the ounce, their weakest since March 16 ($21.59).
Both the Gold Miners (GDX) and Silver Miners (SIL) ETFs are down almost 1% in early, premarket trading, led by Harmony Gold, Gold Fields and AngloGold, all down by 3% or more.
— Scott Schnipper, Gina Francolla