Squawk on the Street SOTS 2nd Hour: Off Target, Palantir’s Pullback, The Race to Replace Powell 8/20/25
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Aug 20, 2025 Allie McCartney, a UBS wealth management professional, shares her insights on market trends and the importance of investment strategies. Brent Thill, a Jefferies analyst with a sell rating on Palantir, discusses the tech sector's challenges. The conversation highlights Target's leadership changes amid declining sales, the contrasting retail performances, and the implications of rising interest rates. They also tackle Palantir's significant stock pullback and the race to replace Fed Chair Powell, offering predictions on future economic dynamics.
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Take A Wait-And-See Stance
- Alli McCartney recommends a 'wait-and-see' posture in August given low volumes, upcoming Fed commentary, and rich tech multiples.
- She advises not to read too much into short-term moves and to monitor credit market complacency.
Target's Turnaround Focus
- Target's incoming CEO Michael Fiddelke plans to reclaim merchandising, improve store experience, and use technology more aggressively to return to growth.
- He emphasizes design-led, on-trend products at value as Target's unique advantage to recapture customers.
Tariffs And 'Choiceful' Consumers
- Fiddelke and Target attribute some weakness to tariffs and a 'choiceful' consumer despite calling the consumer resilient.
- The company says price increases are a last resort and is protecting value while diversifying production away from China.