(This is a summary of the key money transfer discussion on CNBC’s “Worldwide Exchange,” exclusive to PRO subscribers. Worldwide Exchange airs daily at 5 a.m. ET.) Looking for an opportunity in the name. Additionally, they are reacting to Tesla’s earnings and are eyeing interesting fixed income opportunities outside of Treasuries. Tesla Charges Investors George Gianaricas of Canaccord Genuity appeared on Worldwide Exchange to talk about Tesla (TSLA) earnings and why he raised his price target from $254 to $278. “Margins have been exceptional. If you think back to the past few quarters, Tesla’s margins have been going down and down, because they had to cut prices based on the downturn in global car sales,” Gianarikas said. Ta. “But now they had a great quarter…because production costs have come down to levels we’ve never seen before.” He also gave guidance to EV manufacturers on producing lower-cost vehicles. He added that this is why he is bullish. Stocks to watch on Worldwide Exchange: Starbucks Earlier this week, Starbucks (SBUX) withdrew its profit outlook and announced a drop in sales last quarter in its preliminary earnings release. Matt Powers of Powers Advisory Group said it was a necessary step to begin new CEO Brian Nicol’s turnaround plan. Starbucks will officially report its results next Wednesday. Powers on Worldwide Exchange said the initial release was “undoubtedly polarizing.” “What they’ve been doing hasn’t worked. They’ve separated the results from the message they’re delivering on Wednesday,” the analyst said, adding, “They’re going to focus on turning the business around in the earnings call.” Ta. Opportunity for high-yield Bonds BondBloxx’s Joanna Gallegos said she sees the biggest opportunity for high-yield bonds, even though Treasury yields have risen since the Federal Reserve cut interest rates in September. Ta. “If you look at the economic picture, the economy is in good shape, so we quite like the corporate credit opportunity,” Gallegos said on Worldwide Exchange. She recommended high-yield bond ETFs. BondBloxx CCC-rated US dollar-denominated high yield corporate bond ETF (XCCC) with a yield of over 10%, and BondBloxx BB-rated US dollar-denominated high yield corporate bond ETF (XBB) with a yield of over 6%.
