This is CNBC Pro's live coverage of Wednesday's analyst calls and Wall Street chatter.
Wednesday's big market calls saw analysts give mostly rave reviews to Amazon's earnings beat the day before, with most citing cost-cutting measures and the firm's utilization of artificial intelligence. Elsewhere, JPMorgan issued a contrarian call on battered 3M shares, saying the industrial products maker offers good value after shares fell sharply this year while the company beat on earnings.
"Underlying fundamentals are showing modest improvement and EPS growth is turning, with exposure to bottoming electronics markets," the analyst wrote. "We also think 3M offers a degree of cheap defense in a potentially more choppy tape, while an increase in rates actually benefits the calculation in discounting the liability burden here, with a balance sheet that is stronger than we think most appreciate given the Solventum dividend and stake.
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