(This is a wrap-up of the key money moving discussions on CNBC’s “Worldwide Exchange” exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day.) Investors are looking for opportunities in one beaten-up consumer name. Plus, they are reacting to Tesla earnings and watching an interesting bond opportunity outside of Treasuries. Tesla gets investors charged up George Gianarikas of Cannaccord Genuity appeared on Worldwide Exchange to talk Tesla (TSLA) earnings and why he raised his price target to $278 from $254. “The margins were exceptional. If you recall over the last several quarters Tesla margins have gone down, down, down because they needed cut price based on weakening global auto sales,” said Gianarikas. “But now they had an incredible quarter… because the cost of production came down to levels never before seen.” He also added that guidance on production of a lower cost vehicle is also a reason to be bullish on the EV maker. Worldwide Exchange pick: Starbucks Earlier this week, Starbucks (SBUX) pulled its profit outlook and said sales last quarter tumbled in a release of preliminary results. Matt Powers of Powers Advisory Group said it was a necessary step to begin the turnaround plan of new CEO Brian Niccol. Starbucks formally reports results next Wednesday. The early release was “polarizing no question,” said Powers on Worldwide Exchange. “What they have been doing isn’t working. They separated the results from the message they will deliver Wednesday.” “They are going to focus that earnings call on the business, the turnaround,” the analyst added. Opportunity in high yield bonds Joanna Gallegos of BondBloxx said while Treasury yields are higher since the Federal Reserve rate cut in September, she is seeing the best opportunity in high yield bonds. “As you look across where the economy is, the economy is in a good place… so we like opportunities in corporate credit quite a bit,” said Gallegos on Worldwide Exchange. She recommended high yield bond ETFs: BondBloxx CCC Rated USD High Yield Corporate Bond ETF (XCCC) with a yield above 10% and the BondBloxx BB Rated USD High Yield Corporate Bond ETF (XBB) with a yield above 6%.
