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Nvidia Inc. shares jumped 3.8% Monday, after Canaccord Genuity analyst Matthew Ramsay raised his stock price target to $190 from $180, or 17% above its current trading level. The graphics chip maker beat profit and sales expectations by wide margins, and raised its revenue outlook for the year, when it reported fiscal second-quarter results late Thursday. The stock, however, slumped on the news, as investors appeared to view the numbers as not quite strong enough to justify the 30% rally it had enjoyed in the last three months. “In the short term, shares were priced to perfection and we believe Friday’s pullback will prove the entry point many investors have been looking for,” Ramsay wrote in a note. “With the strong growth drivers intact and while acknowledging Y/Y growth compares will toughen in coming quarters, we reiterate our BUY rating and raise our price target from $180 to $190. BUY the pullback,” said Ramsay. Nvidia stock has gained 52% in 2017, while the S&P 500 has gained 10%.

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Media streaming service Hulu Inc. chose Amazon Web Services as its cloud provider and used it to support the launch of its live TV service, Amazon said Monday. Hulu launched its live TV service in May 2017 and said it teamed up with the AWS cloud platform to support the addition of more than 50 live channels. Using AWS helped the company avoid breaks in service, even with “rapid spikes in viewership and traffic,” according to the press release. Other media services on AWS include Amazon Video, Netflix Inc. , BBC and Spotify.

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U.S. stock benchmarks rallied on Monday, as a recent aversion to assets considered risky on the back of fears about tensions between the U.S. and North Korea receded somewhat. The Dow Jones Industrial Average rose 0.7% at 22,000, led by a more than 2% jump in shares of Goldman Sachs Group Inc. . The S&P 500 index advanced 0.9% at 2,463, buoyed by a 1.1% surge in the financials and technology sectors [s:XLK], and the tech-heavy Nasdaq Composite Index rose 1.1% at 6,324. The rebound in equities follows a one of the worst weeks in U.S. stock benchmarks in months, and also comes after a weekend of violence in Charlottesville, Va., which was the scene of angry clashes centered on a white-supremacist rally that left one person dead. Shares of Merck & Co. Inc. rose 0.8% as CEO Kenneth Frazier resigned from the President Donald Trump’s American Manufacturing Council, citing his disagreement with POTUS’s response to the Virginia violence. In other corporate news, shares of Tesla Inc. rose nearly 2% higher after Baird analyst Ben Kallo, a longtime Tesla bull, hiked his price target for the electric-car maker’s stock to $411 from $368.

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The Dow Jones Industrial Average on Monday was on track for its best gain in six weeks, with a jump in components Apple Inc., and Goldman Sachs Group doing the heavy lifting in early trade for the benchmark. Goldman’s 2% share climb alone was contributing more 30 points to the price-weighted blue-chip gauge, while those for Apple Inc. and Boeing Co. adding a combined 20 points. Monday’s rally follows one of the worst weeks for the U.S. equity benchmarks in weeks amid escalating tensions between North Korea and the U.S. However the war of words between the countries has abated somewhat, providing some room for stocks to bump higher. Overall, the Dow was up 128 points, or 0.6%, at 21,985. A close at its current level would represent the best daily rise for the Dow since July 3, according to FactSet data. The S&P 500 index climbed 0.8% at 2,461, while the Nasdaq Composite Index rose 1% to 6,317.

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From:: Stock Market News

U.S. stock benchmarks rallied at the open on Monday, as a recent aversion to assets considered risky on the back of fears about tensions between the U.S. and North Korea receded somewhat. The Dow Jones Industrial Average rose 0.6% at 21,986, led by a 1.6% jump in shares of Goldman Sachs Group Inc. . The S&P 500 index advanced 0.7% at 2,457, buoyed by a 1.1% surge in the financials sector , and the Nasdaq Composite Index rose 0.9% at 6,311. The rebound in equities follows a one of the worst weeks in stock benchmarks in months and after a weekend of violence in Charlottesville, Va., which was the scene of angry protests centered on a white-supremacist rally that left one person dead. In corporate news, shares in Tesla Inc. rose nearly 2% higher after Baird analyst Ben Kallo, a longtime Tesla bull, hiked his price target for the electric-car maker’s stock to $411 from $368.

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Target Corp. said Monday that it is acquiring transportation technology company Grand Junction. The move is one more step in an effort to deliver packages to customers more quickly and efficiently, according to a statement from Target’s chief supply chain and logistics officer Arthur Valdez. Grand Junction is based in San Francisco, and provides a platform to manage local deliveries through a network of 700 carriers. Grand Junction is currently working with Target on its same-day delivery pilot in New York City. Once the deal closes, Grand Junction employees will become Target staffers. Financial details about the acquisition were not disclosed. Target shares are up 1.1% in Monday trading, but down 23% for the year so far. The S&P 500 index is up 9.8% for 2017 to date.

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Consumer goods giant Procter & Gamble Co. on Monday urged shareholders to vote for its line-up of directors at its coming annual shareholder meeting, and said activist shareholder Nelson Peltz is seeking a board seat to advance his own agenda. “You are being asked to choose between a Board and management team that are successfully executing a proven plan to build a better and more valuable company and Mr. Peltz, who has not offered any new, actionable ideas to deliver value beyond the plan that we already have in place,” the company said in a letter to shareholders. The company’s annual shareholder meeting is scheduled for Oct. 10. The company said its current strategy is working in delivering growth and shareholder value. “We believe Mr. Peltz initiated the proxy contest to satisfy his own agenda and to meet the expectations of his limited partners,” said the letter. “What’s best for P&G right now is balance and focus, with the Board and employees continuing a steady commitment to a plan that is working. P&G will not benefit from change for the sake of change.” Shares were slightly higher premarket, and have gained 8.6% in 2017, while the Dow Jones Industrial Average has gained 10.6% and the S&P 500 has gained 9%.

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VF Corp. said Monday that it will acquire Williamson-Dickie Mfg. Co., a family-owned workwear company, for about $820 million in cash. VF Corp.’s portfolio of brands includes Wrangler, Timberland and The North Face. Williamson-Dickie Mfg. brands include Dickies and Kodiak. Wiliamson-Dickie generated about $875 million in revenue in the last 12 months. The acquisition creates a company with about $1.7 billion in annual revenue, said VF Corp. Chief Executive Steve Rendle in a statement. VF Corp. now expects 2017 revenue to total $11.85 billion up from a previous $11.65 billion. Earnings are expected to be $2.96, up from previous guidance of $2.94. Adjusted EPS is expected to fall 1% from last year’s $2.98 total. The FactSet consensus is for sales of $11.68 billion and EPS of $2.96. VF Corp. shares are unchanged in premarket trading, and up 15.4% for the year so far. The S&P 500 index is up 9% for 2017 to date.

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Refining company Andeavor and pipeline company Andeavor Logistics LP announced Monday an agreement in which Andeavor Logistics will buy master limited partnership Western Refining Logistics LP in a deal with an enterprise value of $1.8 billion, including the assumption of debt. Under terms of the deal, Western Refining unitholders will receive 0.5233 Andreavor Logistics shares for each Western Refining shares they own. Based on Friday’s closing prices, the deal values Western Refining shares at $25.28, which is a 6.4% premium. Once the deal closes, Andeavor Logistics will issue 78.0 million common units to Andeavor to cancel Andeavor Logisitics’ incentive distribution rights. Andeavor’s stock has gained 8.0% year to date through Friday, while Andeavor Logistics shares have lost 4.9%, Western Refining shares have climbed 11% and the S&P 500 has gained 9.0%.

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Tesla Inc.’s price target was lifted to $411 per share from $368 on Monday by Baird, whose analysts advised against shorting shares of the company ahead of the Model 3 production ramp. Reiterating an outperform rating on the electric-car maker, senior research analyst Ben Kallo had this to say: “In our our opinion, TSLA is not a good short headed into the Model 3 ramp as we continue to believe upcoming catalysts will drive shares higher, and TSLA remains a top pick for 2017.” He said they expect “strong demand” for Tesla’s mass-market Model 3, whose production ramp up is expected this fall, and that stock performance following its introduction could mirror that of which was seen for the Model S. “Importantly, a positive reception to the Model 3 from early customers could significantly increase the value of the Tesla Brand and further accelerate demand,” said Kallo. Tesla shares closed up 0.7% on Friday to $357.87.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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