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https://www.cnbc.com/id/100075115

MPC

Marathon Petroleum

UPDATE 3-Marathon Petroleum sees distillate demand up in 2013

* CEO expects 3.7 pct increase in distillate demand in 2013 * Company aims to increase export capability * Asset sales in quarter partly offset lower refining earnings Nov 1 (Reuters) - Refiner Marathon Petroleum Corp expects U.S. distillate demand to rise by 3.7 percent in 2013 -- including exports -- and the company aims to increase distillate yields at its Louisiana refinery to reap the benefits, Chief Executive Gary Heminger told analysts on Thursday. ``Looking ahead into 2013, we expect U.S. gasoline demand to be flat and distillate demand to be up about 3.7 percent,'' he said during the company's third-quarter earnings conference call. ``In addition, we expect export opportunities to remain attractive in 2013.'' Last year the U.S. became a net exporter of refined products for the first time in 62 years, shipping out 439,000 bpd more fuel than it imported, according to U.S. government data. Distillate exports from Marathon's 490,000 barrels-per-day (bpd) refinery in Garyville, Louisiana, reached 112,000 bpd in the quarter, up from 79,000 bpd a year ago, Heminger said. The company is boosting pipeline and pumping capacity, adding tankage and upgrading dock capabilities to increase export capability next year for distillates and gasoline, he said. Garry Peiffer, executive vice president of corporate planning and investor and government relations, told Reuters in an interview that the Garyville investments will ``allow you to stage 300,000-barrel shipments, that's the normal cargo size of an export.'' Peiffer said Garyville's gasoline exports are ``basically none at the moment'' because of higher diesel demand. Last month Marathon announced plans to buy BP Plc's 451,000 bpd Texas City refinery, associated assets and inventory for $2.5 billion. The Texas City plant, near Marathon's own 80,000 bpd Texas City refinery, does not currently export refined products internationally. Heminger declined to elaborate on export plans after the deal closes early next year, though he has said the deal will increase Marathon's export capabilities. ``With the seller that we're dealing with, you don't want to get out in front to talk about projects that we see that maybe they haven't seen in the past,'' Heminger told Reuters. ``That is something we will talk about at a later date.'' On Tuesday a fire broke out in a residual hydrotreater at BP's Texas City plant where heavy oil burned off and sent black plumes of smoke into the air. No one was hurt and other units kept operating. Heminger told Reuters that BP kept Marathon informed of the fire, which he said appeared to be ``very minor'' and did not look as though it caused much damage. Marathon has some staff on site at the refinery working on transition plans related to the acquisition, he said. Heminger also told analysts that its 106,000 bpd Detroit refinery is starting up after more than two months of planned work to tie in a new $2.2 billion upgrade project to the existing plant. The upgrade will push capacity to 120,000 bpd and increase capability to process cheaper Canadian heavy oil to 100,000 bpd from 20,000 bpd, Heminger said. Regarding earnings, Marathon reported a better-than-expected quarterly profit on Thursday due in part to asset sales, though earnings slipped in the company's core refining unit. For the third quarter, the company posted net income of $1.22 billion, or $3.59 per share, compared with $1.13 billion, or $3.16 per share, in the year-earlier period. Excluding one-time items, the company posted profit of $3.31 per share. By that measure, analysts expected earnings of $3.23 per share, according to Thomson Reuters I/B/E/S. Revenue rose to $21.25 billion from $20.65 billion. Marathon said operating profit fell about 1 percent in its refining unit to $1.69 billion, mostly due to higher crude oil costs. Quarterly results were helped by a $183 million pre-tax gain the company recognized during the quarter related to the sale of a refinery and other assets in Minnesota in 2010. Shares of the Findlay, Ohio-based company fell 2.6 percent to $53.47 in Thursday afternoon trading. The stock has gained 62 percent so far this year.

https://www.cnbc.com/id/100074666

MPC

Marathon Petroleum

UPDATE 2-Marathon Petroleum profit helped by asset sale

Nov 1 (Reuters) - Marathon Petroleum Corp reported a better-than-expected quarterly profit on Thursday due in part to asset sales, though earnings slipped in the company's core refining unit. For the third quarter, the company posted net income of $1.22 billion, or $3.59 per share, compared with $1.13 billion, or $3.16 per share, in the year-earlier period. Excluding one-time items, the company posted profit of $3.31 per share. By that measure, analysts expected earnings of $3.23 per share, according to Thomson Reuters I/B/E/S. Revenue rose to $21.25 billion from $20.65 billion. Marathon Petroleum said operating profit fell about 1 percent in its refining unit to $1.69 billion, mostly due to higher crude oil costs. Quarterly results were helped by a $183 million pre-tax gain the company recognized during the quarter related to the sale of a refinery and other assets in Minnesota in 2010. Earlier this month the company agreed to pay $2.5 billion for BP Plc's Texas City refining complex. Shares of the Findlay, Ohio-based company fell 2 percent to $53.85 in Thursday midday trading. The stock has gained 62 percent so far this year.

https://www.cnbc.com/id/100074173

MPC

Marathon Petroleum

UPDATE 1-Marathon Petroleum profit helped by asset sale

Nov 1 (Reuters) - Marathon Petroleum Corp reported a better-than-expected quarterly profit on Thursday, though results were helped by the sale of assets in Minnesota, but suffered in the company's core refining unit. For the third quarter, the company posted net income of $1.22 billion, or $3.59 per share, compared with $1.13 billion, or $3.16 per share, in the year-earlier period. Excluding one-time items, the company posted profit of $3.31 per share. By that measure, analysts expected earnings of $3.23 per share, according to Thomson Reuters I/B/E/S. Revenue rose to $21.25 billion from $20.65 billion. Marathon Petroleum said operating profit fell about 1 percent in its refining unit to $1.69 billion, mostly due to higher crude oil costs. Results were helped by a $183 million pre-tax gain the company recognized during the quarter related to the sale of a refinery and other assets in Minnesota in 2010. Earlier this month the company agreed to pay $2.5 billion for BP Plc's Texas City refining complex. Shares of the Findlay, Ohio-based company fell 2.1 percent to $$53.77 in Thursday morning trading. The stock has gained 62 percent so far this year.

https://www.cnbc.com/id/100887384

MPC

Marathon Petroleum

After-Hours Buzz: Cintas, Marathon Petroleum, Brown & Brown & More

Check out which companies are making headlines after the bell Monday: Cintas - The uniforms maker posted earnings of 69 cents a share, missing expectations by a penny a share, while revenue matched expectations at $1.13 billion. In addition, the company handed in 2014 earnings guidance that disappointed analysts, sending shares lower in extended-hours trading. "While the U.S. economy has shown some signs of improvement in the past several months, much uncertainty remains," CEO Scott Farmer wrote in a press release. "This uncertainty, due to a number of factors including the effect of the Affordable Care Act, continues to cause many of our customers to delay hiring and investment decisions. We have developed our fiscal 2014 expectations with this uncertain economic landscape in mind." (Read more: Stocks finish at fresh highs; S&P 500 posts 8-day winning streak) Marathon Petroleum - The company said it expects to post earnings of between $1.87 a share and $1.97 a share, sharply below current expectations for $2.62 a share, citing lower crude oil price differentials and product realizations compared with spot market values. Shares declined in extended-hours trading. The company is slated to post earnings Aug. 1.

https://www.cnbc.com/id/100149968

MPC

Marathon Petroleum

RESEARCH ALERT-Oppenheimer raises Marathon Petroleum price target

Oct 9 (Reuters) - Marathon Petroleum Corp : * Oppenheimer raises Marathon Petroleum Corp price target to $70 from $60; rating outperform For a summary of rating and price target changes on U.S. companies: Reuters Eikon users, click on Reuters 3000Xtra users, double-click Reuters Station users, click .1568 For a summary of rating and price target changes on Canadian companies: Reuters Eikon users, click on Reuters 3000Xtra users, double-click Reuters Station users, click .4899 ((Bangalore Newsroom +91 80 4135 5800; within U.S. +1 646 223 8780))

https://www.cnbc.com/id/100151572

MPC

Marathon Petroleum

BRIEF-Marathon Petroleum signs letter of intent for truck-to-barge project

Oct 9 (Reuters) - Marathon Petroleum Corp : * Marathon Petroleum Corporation and Harvest Pipeline Company sign letter of intent for truck-to-barge project on Ohio river * Project will result in up to 24,000 bpd of truck unloading capacity on the Ohio river at Wellsville, Ohio. * Project to result in terminal capable of loading up to 50,000 bpd onto barges on Ohio river at Wellsville * Source text * Further company coverage ((Bangalore Newsroom; +1 646 223 8780))

https://www.cnbc.com/id/100149936

MPC

Marathon Petroleum

BRIEF-Howard Weil raises HollyFrontier, Marathon Petroleum price target

Oct 9 (Reuters) - HollyFrontier Corp : * Howard Weil Raises HollyFrontier Corp price target to $39 from $34; rating market perform * Howard Weil Raises Marathon Petroleum Corp price target to $58 from $50; rating market perform * Howard Weil Raises Phillips 66 price target to $50 from $39; rating market outperform For a summary of rating and price target changes on U.S. companies: Reuters Eikon users, click on Reuters 3000Xtra users, double-click Reuters Station users, click .1568 For a summary of rating and price target changes on Canadian companies: Reuters Eikon users, click on Reuters 3000Xtra users, double-click Reuters Station users, click .4899 ((Bangalore Newsroom +91 80 4135 5800; within U.S. +1 646 223 8780))

https://www.cnbc.com/id/100072931

MPC

Marathon Petroleum

Marathon Petroleum profit jumps after asset sale

Nov 1 (Reuters) - Marathon Petroleum Corp, which recently agreed to pay $2.5 billion for BP Plc's Texas City refining complex, reported on Thursday an 8 percent jump in quarterly profit, due in part to the sale of assets in Minnesota earlier this year. For the third quarter, the company posted net income of $1.22 billion, or $3.59 per share, compared with $1.13 billion, or $3.16 per share, in the year-earlier period. Revenue rose to $21.25 billion from $20.65 billion.

https://www.cnbc.com/id/100148434

MPC

Marathon Petroleum

RESEARCH ALERT-Barclays raises Marathon Petroleum price target

Oct 9 (Reuters) - Marathon Petroleum Corp : * Barclays raises Marathon Petroleum Corp price target to $88 from $80; rating overweight For a summary of rating and price target changes on U.S. companies: Reuters Eikon users, click on Reuters 3000Xtra users, double-click Reuters Station users, click .1568 For a summary of rating and price target changes on Canadian companies: Reuters Eikon users, click on Reuters 3000Xtra users, double-click Reuters Station users, click .4899 ((Bangalore Newsroom +91 80 4135 5800; within U.S. +1 646 223 8780))

https://www.cnbc.com/2018/08/06/cramer-remix-disney-earnings.html

MKTX

MarketAxess

Cramer Remix: Why buyers are forgiving Disney ahead of earnings

watch now Disney's stock is up ahead of its earnings report on Tuesday, and CNBC's sees it as a move that buyers are forgiving the company for its Fox bid. "Disney's stock has been running like crazy going into tomorrow's quarter and you simply don't see this kind of move unless big institutional money managers are anticipating a blockbuster forecast," the "Mad Money" host said. "Just as important, buyers are forgiving Disney for having to pay so much for the Fox business, and they're forgetting that ESPN's been experiencing big declines." Cramer listed Disney among a group of stocks that have been getting love from investors after being hated for past missteps. He also named Facebook , , and as companies that the market has decided to forgive and forget, but cautioned investors to make sure that their optimism is sustainable. Read more about Jim Cramer's thoughts on forgiving and forgetting Facebook's missteps here. PepsiCo CEO steps down Indra Nooyi, CEO, PepsiCo Adam Jeffery | CNBC CEO Indra Nooyi announced on Monday that she was stepping down, following a 12-year run as CEO and 24 years with the company. President Ramon Laguarta will take over the role in October. Since Nooyi became CFO in 2000, the stock has increased 411 percent, having a higher return than both the consumer staples group and the S&P 500 overall. Dividends have tripled since she became CEO in 2006, and the number of billion-dollar brands within the company grew from 17 to 22. CNBC's Jim Cramer recounted one of his first interactions with Nooyi over a decade ago. He lamented the future of PepsiCo's products after noticing that the snacks weren't popular with his daughter and her friends. "I had thrown a sleepover party for my daughter's swim team. I had stocked baskets all over the house with Doritos and Cheetos and Lay's potato chips, and the kids studiously avoided them. I was shocked," he said. "I realized that these kids represented the future and the future looked grim for these kinds of unhealthy snacks." After the segment aired, Nooyi called the "Mad Money" host to dispute his comments. Not long after, Cramer visited PepsiCo's factory in Aberdeen and had a change of perspective. Read more about Cramer's experience with the outgoing CEO here. Expedia's comeback quarter Visitors browse at the display of Expedia during the International Tourism Trade Fair in Berlin. Fabrizio Bensch | Retuers reported second-quarter earnings in July that beat analysts' expectations and caused the stock to skyrocket. However, CNBC's Jim Cramer explained that the outlook hasn't always been so rosy for the digital travel company, which deals with everything from hotels to cruises to rental cars. Last August, the company lost CEO Dara Khosrowshahi to Uber in the midst of an intense hurricane season that impacted the entire travel industry. Then, in October, in its first quarterly report without Khosrowshahi as CEO, Expedia reported a 22 percent increase in selling and marketing expenses that outpaced its 15 percent revenue growth, which was stunted due to increased competition from Priceline, the largest player in the industry. "Wall Street sometimes gets overzealous in punishing growth companies for necessary spending. But that's not a good look when you're also reporting revenue shortfalls," Cramer said. Read more about how Expedia got back on track here. MarketAxess CEO on the Fed Rick McVey, CEO, MarketAxess Scott Mlyn | CNBC Despite low volatility in the bond markets, electronic trading platform MarketAxess is betting on a growing shift from phone to electronic trading to bolster its business. "If you look over the last 10 years, there has been a consistent movement, year in and year out, of investors trading more electronically and moving business away from the phone," CEO Rick McVey told Jim Cramer in an interview. "We see the same thing this year, whether it's high-grade, high-yield, emerging markets or euros, market share electronically continues to move up." McVey is also looking towards the Federal Reserve and its monetary policy decisions to drive more trading volume on the company's platform. "The one thing that I'm watching closely is the end of quantitative easing," McVey said, referring to the Federal Reserve's practice of buying financial assets to increase the money supply and stimulate the economy. "The ride is going to be a little bumpy when that ends." Watch McVey's full interview here. PerkinElmer CEO on Theranos Robert Friel, CEO PerkinElmer Scott Mlyn | CNBC Before Wall Street found out that diagnostics company Theranos was a fraud, PerkinElmer had its own questions about the company, PerkinElmer CEO Robert Friel told CNBC's Jim Cramer. "We spent a lot of time, first of all, trying to find any kind of scientific, technical knowledge about the company," Friel said. "Very hard. We sort of concluded that we didn't understand it, and since we didn't understand it, we stayed away fortunately. As we're finding out now, there wasn't much substance behind it." Its decision to stay away has not hurt the the company, which manufacturers life science and diagnostics equipment. PerkinElmer's stock is up almost 20 percent year-to-date after reporting strong second-quarter earnings results. Friel said that its latest results show that its two divisions work well together, even though the market a few years ago thought that the best way to create value was to split up the company. Watch Friel's full interview here. Lightning round: Don't buy Lending Tree

https://www.cnbc.com/2017/12/19/cramer-remix-im-ashamed-of-my-ge-recommendation.html

MKTX

MarketAxess

Cramer Remix: I’m ashamed of my GE recommendation

watch now After the decline in the FANG stocks on Tuesday, CNBC's Jim Cramer issued a warning to investors who own the technology-laden group. "I just wanted to get in front of tomorrow's storyline," the "Mad Money" host said. "You better believe the obituary's being written once again right now, this time with the death notice containing two As and two Ns, as in FAANNG, or Facebook , Apple , Amazon , Netflix , Nvidia and Google, the company now known as Alphabet ." Weakness in the FAANNGs is bound to be taken seriously, which is why Cramer looked at the broader market layout, starting with the GOP-led tax overhaul. But even though Cramer remained bullish on the FAANNG stocks, a caller asking about General Electric brought up some real regrets. "Sometimes, you just get had, and I got had," Cramer said. "I was wrong about GE. That's my fault. I shouldn't have recommended it on the way down." "I thought business was doing better," the "Mad Money" host continued. "Did management know something I didn't know? I don't think so. I think they got snookered, too. But you know what? We've got a new guy in town, [CEO John] Flannery. I think he's trying to put it together, trying to get it together, so I would not sell it. But I cost people money because I believed, and I'm ashamed." Looking at 'broken stock' Penumbra Source: Penumbra When two callers asked Cramer about the stock of Penumbra , he told them that it was for speculation only and they should wait for a better entry point to buy. But there's one problem: "Penumbra hasn't given you many entry points," Cramer said. The first time Cramer was asked about Penumbra's stock was Nov. 2016, when it was at $65. The second time was in March 2017, when the stock was at $82. By Nov. 2017, it had run up to $116, where it peaked. Since then, shares of Penumbra have pulled back roughly 20 percent. "Given that this is an audience name that's made some of our viewers a lot of mula, I think we've got to figure out whether we're dealing with a buyable dip or if this is just the beginning of a larger, more painful decline," Cramer said. "It's not always easy to tell." Off the charts: Bitcoin vs. gold Bitcoin on a mound of gold. bodnarchuk | iStock Editorial | Getty Images With a Bank of America Merrill Lynch survey casting bitcoin as the world's most crowded investment, Cramer weighed the idea of the cryptocurrency replacing gold . "Has bitcoin started to replace gold as a repository of value, a place for rich people to hide their money when they get worried about inflation or government confiscation?" Cramer wondered. "With the recent decline in the precious metal and the incredible parabola that is the run in bitcoin, this idea keeps popping up." To determine whether the idea has merit, Cramer called on technician Carley Garner, the co-founder of DeCarley Trading and the author of Higher Probability Commodity Trading. "Long story short, bitcoin's not going to replace gold anytime soon, and I'd say that even if it hadn't started pulling back over the past couple of days," Cramer said. MarketAxess CEO on 2018 outlook Rick McVey, CEO, MarketAxess Scott Mlyn | CNBC MarketAxess Founder, Chairman and CEO Rick McVey thinks 2018 will be "really interesting" for the bond markets, his company's wheelhouse. MarketAxess, an online trading platform that makes it easier for investors to trade bonds and other fixed-income assets, has given its chief a unique look into international markets. "Quite frankly, we've been growing in spite of the fact that we've been living in this very low-yield, low-volatility environment," the CEO told Cramer on Tuesday. "We've been through unprecedented monetary easing and quantitative easing with massive amounts of balance sheet expansion by the Fed, the ECB and the Bank of Japan driving rates down to help spur economic growth. But the short answer is that has worked." As a result of the central banks' policy changes, global growth is the best it has been since the financial crisis, and interest rates are rising along with debt. "Corporate bond debt is about double what it was eight years ago because of the issuance environment for corporate treasurers," McVey told Cramer. "So I think it's going to be a very interesting year as rates start to rise and normalize over the coming quarters." Range skepticism Lately, Cramer has noticed a trend among individual stocks — and the people that trade them — that reminds him of the 1980s and 1990s. In the 1980s, "soft goods" stocks like Coca-Cola , PepsiCo , Merck and Bristol-Myers Squibb trumped their trading ranges; in the 1990s, it was technology stocks like Microsoft and Intel . In 2017, "breakout moves" in the industrial stocks have shaken traders because they have completely blown past their original ranges, Cramer said. "You'd think that the traders would have figured it out by now: this is no ordinary market, people. But they keep thinking in such limited terms," he said. "They've been conditioned to believe that these kinds of breakouts are meant to be bet against." Cramer called the phenomenon of traders not believing stocks can go higher than a certain amount "range skepticism." "I say get used to the breakouts. They are — to use a despicable term that hedge fund managers like to toss around — the new normal," the "Mad Money" host concluded. Lightning Round: Why Cramer's sticking with CVS

https://www.cnbc.com/2022/01/13/investing-club-what-jim-cramer-is-watching-thursday-whats-worrying-about-apple.html

MKTX

MarketAxess

What Jim Cramer is watching Thursday — What's worrying about Apple

(This article was sent first to members of the CNBC Investing Club with Jim Cramer. To get the real-time updates in your inbox, subscribe here .) What I am looking at January 13, 2022: Snap (SNAP) downgraded buy to hold at Cowen... says impacted by iOS 14.5 measurement and response, hard compares, shrinking valuation... $75 price target down to $45... Caterpillar (CAT) ... Citi $225 goes to $230 PT... says demand is strong, supply is question mark... could be like Deere... Credit Suisse starts ASML (ASML) -semi equipment- with a buy... lithography shortage... Barclays likes Lam Research (LRCX) …. Taiwan Semi (TSM) to spend $40 billion to relieve chip shortage, but spending now will change nothing for two years... KB Home (KBH) better-than-expected guidance... multiple price target bumps... sees strong selling season... Good upside margin guidance, says RBC... rather remarkable considering all of the supply chain issues… Netflix (NFLX) slowing according MoffettNathanson... as we said on Mad—too many choices... Paramount plus and Peacock make it too many, says Moffett... Twitter (TWTR) PT $67 to $50 at Cowen...hurt by iOS changes… they need a paid and a free track now... Cowen still likes Alphabet (GOOGL) and takes price target to $3,500 from $3,360... this is a big call because the ad buys are being limited more by iOS... owned by the club... Viacom (VIAC) might be undervalued because of success of Plus and NFL... See Mad Money segment last night ... NFL ratings up 10% , best since 2015... (Programming note: Watch CNBC's "Crypto Night in America" at 6 p.m. in place of Mad tonight...) Mizuho raises Micron (MU) price target $98 to $110... says 5G doing well, same with memory and ev... They also raise for Western Digital (WDC) , Seagate (STX) and ON Semiconductor (ON) all the fuller featured non-high end products... ON is heavy auto Susquehanna says buy Delta (DAL) and United (UAL) but downgrades Southwest (LUV) buy to hold... not your old LUV…Delta has got international exposure that could be wind at back… Upstart (UPST) price target $300 to $223 at Piper... rerating downward... Deutsche Bank Robinhood (HOOD) price target $17 to $15... no interest rate sensitivity... Is this just a gaming app for dogecoin, GameStop and options? MarketAxess (MKTX) ...Deutsche Bank lowers price target $386 to $369...be careful here—dreaded fintech with no interest rate exposure... Blackstone (BX) ... $190 to $176 at Deutsche Bank...is TPG Partners (TPG) better? Comes public today...30-year old profitable firm... puts a lot of the newer IPOs to shame... Deutsche Bank sees auto makers to have better than expected earnings—miss for the parts makers... Haliburton (HAL) upgraded hold to buy at JPMorgan... primed to benefit from leading position in North America... Devon Energy (DVN) ... on Mad last night —bigger special dividend coming... business is at $30 BOE and hedges taken off big—only 20% hedged... JPMorgan suggests Apple (AAPL) will have big revisions upwards... getting worried that too many people think this... JPMorgan still doesn't like Kimberly-Clark (KMB) , but raises PT $122 to $127... Clorox (CLX) $147 to $157 at JPMorgan but this could be the low quarter in the cycle... Analyst Tusa from JPMorgan says Dover (DOV) , Hubbell (HUBB) and Fortive (FTV) are good into q... but he says buy Cramer fave trust name Honeywell (HON) on any weakness... stock has started to run... UBS calls American Eagle (AEO) ... (trust name)... says one of the misunderstood stocks out there and is using a PT of 97% upside... Makes sense—doing very well.. Bloomberg says Boeing (BA) to resume 737 MAX service in China as soon as this month... big call if true. Wedbush's Ives says cloud spending robust at Microsoft (MSFT) , sees strong year ahead... Penn National (PENN) ... $95 to $70 at Truist... real issue with digital Barstool rerating lower... DraftKings (DKNG) $50 to $30 Truist too... just recognizing the tortured reality of the situation... The CNBC Investing Club is now the official home to my Charitable Trust. It's the place where you can see every move we make for the portfolio and get my market insight before anyone else. The Charitable Trust and my writings are no longer affiliated with Action Alerts Plus in any way. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. See here for the investing disclaimer . (Jim Cramer's Charitable Trust is long GOOGL, AAPL, HON, AEO, BA, MSFT.) Apple CEO Tim Cook delivers the keynote address during a special event on September 10, 2019 in the Steve Jobs Theater on Apple's Cupertino, California campus. Justin Sullivan | Getty Images

https://www.cnbc.com/2021/10/18/china-property-defaults-risks-for-other-developers-pboc-on-evergrande.html

MKTX

MarketAxess

Defaults loom over more property developers as China reassures investors on Evergrande

Aerial photography of "river view house" on the side of the Yangtze River. Yichang, Hubei Province, Oct. 16, 2020. Costfot | Barcroft Media | Getty Images The fallout in China's property sector is showing no signs of abating, as more developers face the threat of default — even as uncertainty over the fate of heavily indebted Evergrande looms. All eyes will be on Chinese real estate developer Sinic Holdings , which warned last week that it's not likely to repay offshore bonds worth $250 million due on Monday. There was still no word from the developer as of noon. CNBC has reached out to the company. On Friday, another developer, China Properties Group , said it had defaulted on $226 million worth of notes, as it had failed to secure funds by the Oct. 15 maturity date. They were not the first — Fantasia Holdings had failed to make a bond payment worth $206 million in early October. Last week, ratings agencies issued a fresh round of downgrades for Chinese real estate companies. This week, Evergrande will officially be in default if it doesn't pay up for interest to a U.S.-dollar denominated offshore bond – the payment was due in late September but has a 30-day grace period. The company has kept silent on coupon payments for four other bonds that were due in the past few weeks. watch now These developments come as China's central bank said Friday that the risks posed by Evergrande are "controllable," and that most real estate businesses in the country are stable. However, the People's Bank of China also said property firms that have issued bonds overseas — referred to as offshore bonds — should actively fulfil their debt repayment obligations. On Sunday, the central bank's Governor Yi Gang made additional comments. He said authorities will try to prevent Evergrande's problems from spreading to other real estate firms, according to Reuters. He also said China's economy was "doing well," but faced challenges such as default risks from "mismanagement" at certain firms, the news agency reported. Real estate and related industries account for about a quarter of China's GDP, according to Moody's estimates. China's property developers have grown rapidly following years of excessive debt, prompting authorities to roll out the "three red lines" policy last year. That policy places a limit on debt in relation to a firm's cash flows, assets and capital levels. Things came to a head after the policy started to rein in developers. The world's most indebted developer, Evergrande, warned twice last month it could default. It has since missed three interest payments for its U.S.-dollar bonds. The stock has been suspended since Oct. 4, and ratings agencies have downgraded other real estate firms on concerns about their cash flows. Trading of Chinese real estate bonds spiked to over $1 billion so far in October, from over $600 million in August, according to data from electronic fixed income trading platform MarketAxess. Evergrande's 8.75% bond maturing in 2025 is currently the second-highest most traded emerging market bond on the market, it said. More ratings downgrades There was a new round of downgrades at other Chinese real estate firms last week. CNBC reached out for comment from each of the firms. Modernland declined to comment, while China Aoyuan and Greenland Holding have yet to respond. 1. China Aoyuan On Friday evening, S&P Global Ratings downgraded China Aoyuan , one of the bigger developers in China's Guangdong province which focuses on the country's Greater Bay area. The ratings agency pointed to its high debt, and said the firm's move to reduce debt will slow over the next year. It also flagged Aoyuan's "considerable" bond maturities due in 2022, which will put further pressure on the property firm. One thing we can be sure of is that the property sector is struggling. Julian Evans-Pritchard senior China economist, Capital Economics "The company's reduced visibility on revenue growth and continued margin pressure will hinder deleveraging efforts. Weakening cash generation will also pressure Aoyuan's liquidity as it faces sizable maturities in 2022, despite our expectation that the company can still sort out the repayment under a tighter situation," S&P said. 2. Modern Land Fitch also downgraded Modern Land on Friday, citing the developer's move to delay for three months a repayment on a $250 million offshore bond. 3. Greenland Holding Preceding Friday's downgrades, S&P on Thursday downgraded Greenland Holding — one of the bigger real estate developers which has prestigious properties in cities such as New York, London and Sydney. It also cited its "impaired" funding access, which will limit its ability to weather the downturn in the property industry. Fitch said it expects the firm's ability to generate cash to slow. "Greenland's bond prices have deteriorated sharply again following wider investor concerns over the sector," Fitch wrote. "A prolonged weakness in bond prices may hit the confidence of the company's borrowers, suppliers, and purchasers." China properties 'struggling': Capital Economics

https://www.cnbc.com/2021/04/26/buy-these-stocks-with-pricing-power-as-inflation-heats-up-ubs-says.html

MKTX

MarketAxess

Buy these stocks with pricing power as inflation heats up, UBS says

As multiple signs of inflation heat up, UBS recommends investors look at shares of companies with the ability to pass those costs increases onto consumers. "The current backdrop of rising inflation should help companies with strong pricing power outperform. This relative strength does not appear to be priced in," Keith Parker, head of UBS equity strategy, told clients in a note. Amid a rise in commodity prices to multi-year highs, like corn and copper , some companies are indicating that they are going to increase product prices. The businesses that are able to raise prices without denting sales should see an increase to their margins over time, making them attractive investments, according to Parker. UBS noted that some of these companies have underperformed in recent months. Since October 2020, strong pricing power stocks have underperformed weak ones by 10%, the firm said. UBS developed a framework for scoring corporate pricing agility, which considers pricing power, margin momentum and input cost exposure. For pricing power, UBS quantified the extent to which a company can raise prices over and above costs. For margin momentum, UBS tracked corporate pricing trends using its proprietary pricing mapping. "Firms with greater analyst margin revisions and sales growth acceleration with lower margin expectations also score better," the firm said. For input cost exposure, UBS searched for companies with negative sentiment around commodity and transport costs on earnings calls. UBS gave each company in the S & P 500 a score based on pricing power and margin momentum. Then, the firm ranked each stock against its sector peers. Take a look at UBS' list of large-cap stocks with strong pricing power. Expedia Group ranks the highest in the consumer discretionary sector. Many on Wall Street expect consumer discretionary spending to shift to travel and entertainment, from consumer goods, as the economy continues to reopen. This trend should benefit Norwegian Cruise Line as well, UBS says. Activision Blizzard , Philip Morris International , Estee Lauder and EOG Resources also made UBS's list of stocks with strong pricing power. E-broker Charles Schwab appeared on UBS' list. The online broker reported better-than-expected earnings earlier this month, which also showed Schwab added a record 3.2 million new clients in the first quarter of 2021 . That compares with about 2.4 million new accounts added in all of 2020. Small-cap peer Interactive Brokers appeared on UBS' small-cap list of stocks with strong pricing power. Visa is another name the should hold up in the face of inflation. JPMorgan reiterated its buy rating on the payments giant on Monday and updated its earnings estimates based on higher volumes trends. In the real estate sector, UBS determined Vornado Realty Trust as the most pricing power in its sector. The shopping center and mall operator has a long road back to rent growth following the pandemic, according to Bank of America; however, first quarter leasing data showed signs of improvement. Ecolab , Duke Energy and NiSource also appeared on the large-cap pricing power list. MarketAxess , Jazz Pharmaceuticals and Equifax also earned spots on the list. Some of the other small-cap names that appeared on UBS's strong pricing power list are Callaway Golf , Ethan Allen , Six Flags Entertainment and Tupperware Brands . — with reporting from CNBC's Michael Bloom. Mike Coppola | Getty Images

https://www.cnbc.com/2019/12/27/ulta-ross-stores-surprise-sp-500-stocks-with-1000percent-decade.html

MKTX

MarketAxess

Surprise S&P 500 stocks that posted 1,000%-plus decade and are not from tech sector

Traders work on the floor of the New York Stock Exchange (NYSE) on July 10, 2019 in New York City. Spencer Platt | Getty Images The S&P 500 has returned about 30% this year, capping what has been a tremendous decade for stocks. In eight of the past 11 years, the S&P 500 has posted a double-digit gain. That's not so uncommon: Since 1926, U.S. stocks have posted double-digits gains 54 times in a year. But some stocks have been uncommonly good over the past decade, returning over 1,000% to shareholders. You probably know some of them already: Netflix, which has had the best decade of any stock, up more than 4,000%. And Amazon, which made revered CEO Jeff Bezos the richest man in the world — and has touched a $1 trillion in market cap a few times, including earlier this year — with a return of roughly 1,200%. Netflix and Amazon stocks share something else in common: they are technology-driven companies in the S&P 500 that are not classified as being part of the technology sector. Rather, Netflix is in communications services (also home to Alphabet and Facebook), and Amazon in the consumer discretionary sector of the S&P 500. There are still more surprising S&P 500 1,000%-plus winners from the past decade that made shareholders happy operating outside the infotech center of the bull market. Not Amazon, not Netflix, still up 1,000%-plus Some benefited, at least partially, by the timing of the economic cycle shift, riding the trough of the financial crisis recession to the current peak. That includes equipment company United Rentals , up 1,605%, through Dec. 20, according to S&P Global Market Intelligence. "The business is one of great cyclicality so the peaks and valleys can be meaningful, so 2008/2009 is a favorable starting point if you are assessing strength and progress over the cycle," noted Northcoast Research analyst John Healy. "In the middle of the deep recession, with URI being a cyclical stock and one that had too much leverage, it got really cheap, so your starting point is low," added Analyst Rob Wertheimer or Melius Research. But he said that's far from the whole story. And adoption of tech was part of the turnaround. "URI moved years ahead of the industry to adopt tech solutions for pricing, for logistics and efficiency in loading and planning trucks. They use their own implementation of Salesforce to give sales reps mobile access to accounts, local inventory," Wertheimer noted in an email. "More recently, they have been using telematics and benchmarking to help their customers drive efficiency, sometimes telling customers when they are not using rental equipment, so they can stop renting it. The equipment can be rented to someone else, and the customer is made more efficient." 2008/2009 is a favorable starting point if you are assessing strength and progress over the cycle. John Healy Northcoast Research analyst O'Reilly Automotive managed to fend off the threat from online sales of auto parts, including from Amazon, and return over 1,000%. Scot Ciccarelli, RBC Capital Markets analyst, said in its case a well-timed 2008 purchased of a company called CSK, which was a massive underperformer, led to an improved sales per store and margin profile for the better part of the next 10 years. "Further, they have continued to grow their store base, expanding their distribution reach. Their strong customer service and distribution capabilities enabled them to continue gaining market share in a high margin, high ROIC [return on investment capital] business that isn't very price elastic, making it difficult for newer entrants like Amazon to enter." Strong cash flow also allowed O'Reilly to take part in the buyback boom of the past decade, (share count is down 40% since 2008), improving earnings per share for all shareholders. MarketAxess, Abiomed Other huge gainers are technology companies, but in sleepy and sophisticated corners of the market where becoming a household name is not an option. Fixed-income electronic trading company MarketAxess Holdings posted a 3,000% return over the past decade. "For MKTX, it's all about electronification of the credit markets," noted Compass Point analyst Chris Allen. "They have roughly 85% share of the electronically traded U.S. credit market. Importantly, only 20-25% of the U.S. HG [high grade] market trades electronically and roughly 12-15% of the U.S. high-yield market trades electronically. So there is still a lot of room for growth of electronic trading of credit," he said, though he noted competition from Bloomberg, Tradeweb and Intercontinental Exchange . "Electronic trading in financial markets is nothing new, just some markets take more time to migrate than others due to market structure and other issues." A few of the 1,000%-plus non-infotech crowd come from boom or bust spots in the market that are always hot trades, such as biotech and medical technology. Heart equipment maker Abiomed is up 1,765%, according to S&P Global Market Intelligence, though it has experienced the volatile swings common to its niche lately. Regeneron Pharmaceuticals is a biotech that has boomed over the past decade. But in less expected "medtech" winner territory is the maker of the Invisalign dental alternative to braces, Align Technology , which is among the top 10 S&P 500 stocks over the past decade from outside the infotech sector. So are retailers Ross Stores and Ulta Beauty . There is no guarantee these stocks continue to beat the competition; at least one has been under pressure lately — and all face continued threats from new technology and limits to the exceptional growth of the past decade. But here is a little more on how they stayed ahead of the competition in the 2010s. Align Technology An orthodontist uses a process called Invisalign to straighten a patient's teeth. Sammy Dallal | Digital First Media | Getty Images Market return: 1,431% S&P 500 sector/sub-sector: Health care/Health-care supplies Analyst take: John Kreger, health care analyst at William Blair, said there is a clear technology theme behind the success of Align and it is a theme that he thinks should persist in the next decade. "That theme is the conversion of the practice of dentistry from analog to digital. It is allowing specialty procedures such as orthodontics to be done with greater precision and greater ease with the use of CAD CAM technology. This trend is also allowing general dentists to perform procedures that only specialists were trained to handle in the past." But technology is a big a threat in addition to opportunity. "I would say the key technology-based threat for Align will be does innovation allow orthodontics to leave the doctor's office entirely? Such a trend could shift the advantage away from Align and towards up and coming direct-to-consumer innovators like SmileDirectClub and Candid. These companies are already using technology (3-D scanners and e-commerce) to try to provide orthodontics to consumers without having to see a dentist or orthodontist at all." Ulta Beauty Ariel Winter for The Salon at Ulta Beauty New Signature Blowout Menu Launch on July 11, 2019 in Westwood, California. Presley Ann Market return: 1,294% S&P 500 sector/sub-sector: Consumer discretionary/Specialty Stores Analyst take: Anthony Chukumba, managing director at Loop Capital, said Ulta's success starts with one explanation and it is not tech, but human-based: CEO Mary Dillon. She joined in 2013 and "has affected the vast majority of outperformance," Chukumba said. "She got them to where they are now." One of the biggest moves Dillon made was to recognize Ulta was looked down upon by serious cosmetics customers, who went to Sephora or a department store. "She overhauled the store environment and made it more upscale and aspirational," Chukumba said. That, in turn, convinced more high-end beauty brands to take a look. There was a tech aspect to getting more beauty brands on board, because it was occurring amid an era of bricks-and-mortar retail store foot traffic challenges. "Declining mall traffic led to declining department store sales and store closures. That made Ulta more attractive to high-end beauty brands," Chukumba said. In the era of app-based customer loyalty programs, Ulta's non-app based Ultimate Rewards has amassed roughly 34 million members who account for 95% of sales. "That's important because for prestige beauty products like Estée Lauder, Shiseido, MAC, discounting is non-existent," Chukumba said, and customers can only gain discounts through building loyalty points. "It's a virtuous cycle, like Amazon. Ulta attracted more high-end beauty brands, which attracted more customers, which led to more sales, which convinced more high-end beauty brands to sell their products in Ulta stores." The biggest risk is that they've had this industry growth tailwind and that is becoming more of a headwind now. Anthony Chukumba Loop Capital managing director Ulta's e-commerce business is growing 20-30% this year, though it had been as high as 30-40% in past years. But that still makes it different from many bricks-and-mortar retailers whose e-commerce efforts are not incremental but cannibalizing store sales. The Loop Capital managing director said the rewards program has played into Ulta's online growth, with its 34 million customer loyalty members comprising 95% of sales providing a mass of data that Ulta can use to more finely target customers and give them online offers that will be compelling based on their purchase history. The risks to the Ulta story have been apparent this year, as the stock has taken a dive on fears of slowing growth. "The biggest risk is that they've had this industry growth tailwind and that is becoming more of a headwind now," Chukumba said. "Color cosmetics sales have really slowed, and as a result, Ulta's comparable sales growth has slowed," which management has chalked up to a lack of new, compelling beauty trends. And there is always Amazon on the horizon. Fears that Amazon convinces high-end beauty brands to sell on its platform have not materialized in a major way, but if it were to occur that that would be a huge risk to Ulta's ability to control the beauty shopper experience and pricing. It will be hard to replicate online "Ulta's in-store prestige boutiques, which in many cases are staffed by the beauty brands themselves," but Amazon could convince these brands to make deals. "It's the legacy prestige brands that really drive sales," Chukumba said. Newer celebrity brand deals are also a threat. Lady Gaga's Haus Laboratories brand did an exclusive deal with Amazon. Rihanna has a huge brand, Fenty Beauty, with Sephora. Ulta has Kylie Jenner. ""Gaga doing an exclusive with Amazon might be the type of thing that convinces more high-end brands to explore Amazon," he said. "More beauty sales will eventually shift online, but Ulta has a strong online channel, so that should not be a problem. Now if sales shift online and they go to Amazon instead of Ulta, that's a problem." Ross Stores Pedestrians pass in front of a Ross Stores location in San Francisco. Noah Berger | Bloomberg | Getty Images Market return: 1,095% S&P 500 sector/sub-sector: Consumer discretionary/Apparel Retail Analyst take: Morningstar analyst Zain Akbari said Ross Stores success is mostly about execution, operational efficiency, and favorable consumer trends than anything tech-specific. However, he noted that the strength of the off-price apparel retail business model does hold a lesson for success in a tech-led era. "The off-price apparel retailers (Ross, TJX , and, with much more mixed results than the other two, Burlington Stores ) benefit from a treasure hunt format that is hard to replicate online, with a store experience that keeps customers coming back and vendor relationships that are durable and based on the sellers' supplier-friendly practices (which themselves are enabled by off-price retailers' agility)," Akbari said. The Morningstar analyst said Ross has the largest off-price apparel banner in the U.S. (though TJX is bigger if you combine Marshall's and T.J. Maxx). Its strong management and merchandising team has capitalized on an environment in which retailers have access to a lot of attractive product, which is in itself a consequence of the turmoil in the full-price channel which Amazon helped to create. The analyst does still fear Amazon. "As far as tech threats are concerned, the degree to which a rival (Amazon or otherwise) can find a way to replicate the off-price experience with the full customer and vendor benefits of the in-store offering is a risk," Akbari said, noting that current digital efforts in the sector generally feature different product assortments than the physical stores. "Also, a dramatic improvement in the demand forecasting capabilities of clothing manufacturers could threaten product availability (the off-price retailers buy excess inventory from vendors, and improved forecasting could reduce those overruns)." But the Morningstar analyst does not believe either negative outcome is "all that likely" in the next 5+ years, he said.

https://www.cnbc.com/2020/01/06/cramer-lightning-round-i-am-bullish-on-snap.html

MKTX

MarketAxess

Cramer's lightning round: 'I am bullish on Snap'

Nokia : "Well, there was an upgrade today ... I do believe that it is a decent value spec ... given the fact how low it is, but Huawei is crushing them." Snap : "I am bullish on Snap, but you don't need to buy anymore here. It just went up on a spike, but I am bullish because there's just not enough social media plays around." Marketaxess Holdings : "I think it's absolutely terrific." AT&T : "I am a believer in AT&T. I am a believer in the story that Elliot Partners tells. I think it is a good situation to own." Enphase Energy : "It's very speculative ... I do think it's gotten pricey." Natera : "I don't think you should cut and run here." Amarin Corp .: "You know what, this thing has been a rocket ship. We think it has more to go." Roku : "If you buy Roku or you buy Trade Desk you have to understand: you're not coming in early, you're coming in potentially late, but I'm not going to fight you because of the chord-cutting issue, and that's what's driving those stocks."

https://www.cnbc.com/2020/05/08/financials-are-flashing-a-warning-sign-to-investors-says-trader.html

MKTX

MarketAxess

Financials are flashing a 'warning sign' to investors, says trader

Financials are sending the market a warning sign. That was one trader's theory about the group as it led the S&P 500 higher Thursday, up more than 2% as of the close. Financials are still the second worst-performing sector in the S&P year to date, with only energy seeing deeper losses. "I think the financials are giving us the warning sign to be very, very cautious with this overall market," Quint Tatro, president and chief investment officer of Joule Financial, told CNBC's "Trading Nation" on Thursday. Asked how he would trade financial stocks, Tatro replied: "Very, very carefully." "I wish this wasn't the case, but the financial action is really what has me more concerned about the market than anything," he said. "There's value here, like a JPMorgan [trading at] 1.2 times book [value], 10 times forward earnings, and that looks attractive. Unfortunately, I think it's a value trap." Craig Johnson, senior technical research analyst at Piper Sandler, said that while the group has fallen to levels some investors might consider attractive, buyers shouldn't expect immediate results. "I look at this rebound in the banks as really just a relief rally at this point in time and I would simply say that I think there are some opportunities here to make some deposits in some interesting stocks," Johnson said in the same "Trading Nation" interview, pointing to a chart of the Financial Select Sector SPDR Fund (XLF). "If you look at the XLF specifically, I look at this as a nice-looking rebound so far, but we're neutral this sector ... because I think it's going to take a little bit more time before we start to see the banks start to work," he said. "I think tech looks more constructive from my perspective." The XLF ended Thursday's trading up more than 2% on the back of a healthy day for the broad market. As of Thursday's close, only seven financial stocks in the S&P were in the green for 2020: MSCI , MarketAxess , S&P Global , Moody's , Progressive , Intercontinental Exchange and Nasdaq . Disclosure: Piper Sandler has had a client relationship or has received compensation for investment banking services from; has had a client relationship and has received compensation for noninvestment banking securities related products or services in the past 12 months for; and is a registered market maker for JPMorgan. Piper Sandler will buy and sell securities on a principal basis for MSCI. Disclaimer

https://www.cnbc.com/2019/12/18/jim-cramers-mad-money-recap-stock-picks-dec-18-2019.html

MKTX

MarketAxess

Everything Jim Cramer said about the stock market on 'Mad Money,' including investing around impeachment, FedEx's woes

watch now CNBC's Jim Cramer says investors shouldn't worry about how the impeachment proceedings in Washington, D.C., will impact stocks on Wall Street. The "Mad Money" host explains how the market reacted to President Bill Clinton's impeachment and how FedEx can recover from its stock woes. Tune out the impeachment noise Traders working on the floor of the New York Stock Exchange. Drew Angerer | Getty Images CNBC's on Wednesday said investors on Wall Street care more about company fundamentals than they care about the impeachment process in Washington, D.C. As the House debated impeaching President Donald Trump throughout the day, the major U.S. stock averages barely moved. The slipped 0.10%, and the dipped 0.04%. The rose 0.05%. "While the impeachment debate didn't seem to do much damage, a late wave of selling was, indeed, met with almost no buyers today, and that's not what you want to see if you're hoping for smooth sailing going forward into year end," the "Mad Money" host said. "Still, even if we have a few down days coming up ... market history says it's a mistake to freak out about the impeachment process." Impeachment history suggests Wall Street has nothing to fret about Janhvi Bhojwani | CNBC With the public fixated on impeachment in Congress, Cramer revealed his strategy to make money in stocks as the bull continues to run on Wall Street. The host is convinced the impeachment of Trump will play out as did that of President Bill Clinton, who was impeached in a Republican-led House and acquitted in a Democratic-led Senate two decades ago. "That's right. It may not be classy, but I'm here to help you profit from these impeachment proceedings because, you know what, this show isn't 'Mad Politics,' it's 'Mad Money,'" he said, "and on 'Mad Money,' we never stop hunting for the next bull market for you." Stocks that can work through Trump's impeachment process Microsoft signage at the Meridian Building (formerly CompuWare) in Detroit, Michigan on May 25, 2018. Raymond Boyd | Michael Ochs Archives | Getty Images As the House of Representatives takes its next step toward impeaching Trump on Wednesday, Cramer said there are stock market lessons to be learned by looking at history. Specifically, there are some companies whose stock performances are showing similarities to those during the impeachment proceedings of former President Bill Clinton, who was acquitted in early 1999, the host said. Those companies include , , and , among others, Cramer said. While many of the stocks saw their gains wiped out during the dot-com bubble, Cramer said it is still a worthy exercise to look back to top performers in 1999. "It's really pretty astonishing how much of what was working then is also working now," he said. How FedEx stock can rebound An employee sorts packages inside the FedEx distribution hub at Los Angeles International Airport. Patrick T. Fallon | Bloomberg | Getty Images management must adjust the company to the digital age if it expects to engineer a rebound in the stock, Cramer said. The shipping giant continues to rake in big profits but finds itself in a deeper ditch after failing yet again to meet expectations in its most recent earnings report. "The real disgrace is that management keeps believing they've got it right when in reality they're dead wrong," the host said. "Stop the predictions, stop the sham guidance, and take the time to figure it all out. Then, and only then, will FedEx stock be able to bottom." Cramer's lightning round

https://www.cnbc.com/2019/11/18/new-york-state-attorney-general-investigating-wework-sources-say.html

MKTX

MarketAxess

New York State Attorney General investigating WeWork, sources say

A man enter the doors of the 'WeWork' co-operative co-working space on March 13, 2013 in Washington, DC. The New York State Attorney General (NYAG) is investigating WeWork, according to two people familiar with the matter, adding to a mounting series of problems that have turned the workspace provider from a Wall Street darling to a pariah in a matter of weeks. The company, which is expected to lay off thousands of employees beginning this week as it faces ballooning losses, confirmed on Monday that it had been contacted by the office of the NYAG, Letitia James. "We received an inquiry from the office of the New York State Attorney General and are cooperating in the matter," said a WeWork spokeswoman when contacted by Reuters. A spokesman for the NYAG declined to comment. Among the issues the NYAG is examining is whether WeWork's founder and former chief executive, Adam Neumann, indulged in self-dealing to enrich himself. Neumann bought properties which he then leased back to WeWork, borrowed against his own stake in the company, and had also planned to charge WeWork almost $6 million to use his trademark of the word "We" after the company rebranded itself The We Company. The company shelved its plans for an initial public offering on Sept. 30 after investors grew wary of its losses, its business model and its corporate governance. Neumann had resigned as CEO the previous week. He also agreed to return the cash from the use of "We." A spokeswoman for Neumann declined to comment. WeWork agreed to a rescue by its largest shareholder, Japanese technology investment company SoftBank Group Corp, last month as it faced a cash crunch. SoftBank agreed to inject $6.5 billion in debt and equity into WeWork and to fund a $3 billion buyout of existing shareholders, including $1 billion for some of Neumann's shares. WeWork now faces a radical restructuring. Job cuts will be announced later this week in areas that do not support WeWork's core business goals, said The We Company's recently named Executive Chairman Marcelo Claure in an e-mail to staff that was reviewed by Reuters. The New York Times reported on Sunday that WeWork is preparing to cut 4,000 jobs. The company itself had 12,500 employees on June 30, and there are others who work for affiliates. The next steps to shape the company's future will be divulged in an all-company meeting on Friday, Claure said in the e-mail. He said WeWork needs a more efficient and more customer-centric organization to grow." We are going to eliminate and scale back certain functions and responsibilities," added Claure, who is also an executive at SoftBank. An Oct. 11 presentation to bondholders indicated administrative jobs would be cut, along with jobs in WeWork's venture capital arm and in so-called growth-related functions, a possible reference to design and construction units. This is not the first time WeWork has been scrutinized by the NYAG. The company rolled back its policy of requiring employees to sign noncompete agreements after reaching a settlement with the attorney general last year. Bloomberg News reported on Friday that WeWork is facing scrutiny from the U.S. Securities and Exchange Commission over whether it violated financial rules as it sought its public listing. WeWork declined to comment on the report. WeWork's 2025 bond has weakened sharply in the past week, hitting 16.057 percent on Monday, according to data from MarketAxess.

https://www.cnbc.com/2020/03/24/marriott-coronavirus-worse-than-911-and-financial-crisis-combined.html

MAR

Marriott International

Marriott CEO: Coronavirus outbreak worse for business than 9/11 and 2008 financial crises combined

The coronavirus has hit Marriott International 's business worse than 9/11 and the Great Recession combined, CEO Arne Sorenson said Tuesday. "What we're seeing is dramatically worse than what we saw in those two prior crises," Sorenson told CNBC's Seema Mody on "Squawk Alley." In those two crises, the worst quarterly declines in global revenue Marriott experienced was around 25%, Sorenson said in a Twitter video last week. Sorenson told CNBC he used to think those declines would be "the worst we'd ever seen." "We're now seeing revenue down 75% plus, probably I suspect nearing a 90% decline in the United States. And obviously at those levels there just isn't any business in hotels," said Sorenson, who suspended his salary for the year. Shares of the world's largest hotel company were soaring Tuesday, rising more than 11% to around $78 each as Wall Street optimistically awaited Washington lawmakers to pass an economic stimulus bill. Marriott stock, like so many in the travel sector, has been pummeled as the coronavirus spread around the world and upended daily life. It is down around 48% for the year. Sorenson, who underwent surgery in late 2019 for pancreatic cancer, said Marriott has seen its business pick up in China and elsewhere in the Asia Pacific region, including Taiwan and Singapore. Occupancy in mainland China, where the global pandemic began, has picked up from the single digits to near 20%, he said. Yet as the pandemic was taking root in the U.S., Marriott recently furloughed around two-thirds of its 4,000 corporate employees, The Wall Street Journal reported. Marriott announced last week it was beginning to furloughing tens of thousands of workers at the properties it manages. They will not be paid but those who receive health benefits will continue to have them. Sorenson said the company took a "furlough approach," instead of terminating employees, while ensuring the impacted workers are still "eligible for the unemployment insurance and other tools that are out there." Separately, CVS Health and Albertsons both announcing plans in the last 24 hours to hire some of the furloughed hotel workers, an encouraging sign for those who are looking to earn some income. The U.S. tourism industry has asked for $150 billion in relief to offset a dramatic decline in travel due to the coronavirus. Sorenson said the money would be used to support workers and the operators and owners of the hotel buildings. "They tend to be locally focused. They've got mortgages. They've got capital that they need to make sure they can tap into to survive this crisis and reopen," he said. "When you talk about the $150 billion, we're really talking about tools that might be available to both of those communities in order to support them as we go through it."

https://www.cnbc.com/2020/02/27/marriott-booking-holdings-warn-of-virus-hit-as-jetblue-waives-cancellation-fees.html

MAR

Marriott International

Marriott, Booking Holdings warn of virus hit as JetBlue waives cancellation fees

Hotel operator Marriott International said it expects a roughly $25 million hit to its monthly fee revenue from the fast-spreading coronavirus, as U.S. airline JetBlue Airways said it would drop cancellation fees, even though it doesn't serve markets hit hardest by the outbreak. The travel industry has been facing mounting problems after weeks of cancellations focused on Asia, with online travel agency Booking Holdings forecasting a wider-than-usual range for its first-quarter outlook, citing uncertain travel demand and flagging a significant hit to the period from the virus. Hawaiian Airlines has suspended flights between the international airports at Honolulu and Incheon, South Korea beginning March 2 through April 30, citing a spike in COVID-19 cases in the Asian country. The United States told Americans on Tuesday to begin preparing for the coronavirus to spread within the country as outbreaks in Iran, South Korea, and Italy escalated, triggering concerns of a hit to global travel demand. "Due to the uncertainty regarding the duration and extent of the coronavirus outbreak, Marriott cannot fully estimate the financial impact from the virus, which could be material to first-quarter and full-year 2020 results," Marriott said, adding that room additions in 2020 could also be delayed as a result of the outbreak. Marriott, which is currently facing low occupancy rates in the Asia Pacific region, has also issued cancellation fee waivers for guests affected by the virus outbreak in mainland China, Hong Kong, Macau, and Taiwan until March 15. U.S. airlines and hotels are extending options for customers to rebook travel to a growing list of countries, including Italy, as coronavirus cases spike beyond China and spark fears of a global pandemic. "It is not possible to predict where, and to what degree, outbreaks of the coronavirus will disrupt travel patterns," Booking said in its earnings release. JetBlue which only flies in the United States, the Caribbean, and Latin America, became the first U.S. airline to offer waivers for all travel on Wednesday, announcing it would suspend change and cancellation fees for new flight bookings between Feb. 27 and March 11 this year. "While authorities have not issued any travel restrictions to the locations we fly, we want to give our customers some peace of mind that we are ready to support them should the situation change," JetBlue said in a statement. Marriott reported a quarterly profit above analyst estimates on Wednesday as occupancy and room prices in North America inched higher. The company also forecast revenue per available room growth a measure of a hotel's financial performance to be between flat and up 2% in 2020. The hotel operator said it expects 2020 earnings, excluding the impact of the virus, to be between $6.30 and $6.53 per share. Analysts were expecting $6.47 per share, according to Refinitiv data.

https://www.cnbc.com/2019/07/09/marriott-accused-of-deceptive-drip-pricing-by-washington-dc.html

MAR

Marriott International

Marriott accused of deceptive 'drip pricing' by Washington, D.C.

Hotel chain Marriott International was sued by the District of Columbia on Tuesday over allegedly deceptive "drip pricing" practices that tacked on hidden fees to hotel bills. According the complaint, Marriott has failed for a decade or more to disclose certain fees when it advertises prices for hotel rooms. These hidden fees, which could add up to $95 per day, allegedly applied to listings on Marriott's own website and travel websites such as Expedia. "Marriott reaped hundreds of millions of dollars in profit by deceiving consumers about the true price of its hotel rooms," D.C. Attorney General Karl Racine said in a news release. The fees for the hotel room were sometimes grouped as "taxes and fees" and not presented until after customers had already entered their credit card information, the complaint alleges. In other cases, the fees were advertised as covering amenities, such as parking, that were either complimentary or that guests had to pay for when they got to the hotel even after paying a resort fee, according to the complaint. Marriott said it does not comment on pending litigation. A 2017 report from the Federal Trade Commission found that separating rental costs from extra fees without first showing customers the total price was "likely to harm consumers by increasing the search costs and cognitive costs of finding and choosing hotel accommodations." The practice is known as "drip pricing." The lawsuit comes after an investigation into the hotel industry by all 50 states and D.C. Racine is seeking a court order to force Marriott to advertise the full price of a stay as well as pay financial penalties and restitution to affected guests. The fees charged by hotels has been a source of frustration for online booking companies. Booking Holdings , which owns travel sites Booking.com, Priceline.com and Kayak.com, has begun charging commission on these fees, while Expedia said its goal is to make sure that, among hotels that are otherwise equal, listings without mandatory fees have higher visibility than those that do. Booking and Expedia declined to comment on the Marriott lawsuit.

https://www.cnbc.com/2020/06/05/marriott-trump-administration-ordered-end-of-cuba-hotel-business.html

MAR

Marriott International

Marriott says Trump administration ordered it to cease Cuba hotel business

The Trump administration has ordered Marriott International to wind down hotel operations in Communist-run Cuba, a company spokeswoman told Reuters, extinguishing what had been a symbol of the U.S.-Cuban detente. Starwood Hotels, now owned by Marriott, four years ago became the first U.S. hotel company to sign a deal with Cuba since the 1959 revolution in the mark of the normalization of relations pursued by former President Barack Obama. But the administration of President Donald Trump has unraveled that detente, saying it wants to pressure Cuba into democratic reform and to stop supporting Venezuelan President Nicolas Maduro. The move could help Trump bolster support in the large Cuban-American community in Florida, a state considered vital to his re-election chances in November. "We have recently received notice that the government-issued license will not be renewed, forcing Marriott to cease operations in Cuba," a company spokeswoman told Reuters. The spokeswoman said the U.S. Treasury Department had ordered the company to wind down its operation of the Four Points Sheraton in Havana by Aug. 31. It would also not be allowed to open other hotels it had been preparing to run. The U.S. Treasury Department and State Department did not immediately reply to a request for comment. "In 2017, Trump promised he would not disrupt existing contracts U.S. businesses had with Cuba," wrote William LeoGrande, a Cuba expert at American University in Washington, on Twitter. "Promise made, promise broken." The news comes two days after the U.S. State Department expanded its list of Cuban entities with which Americans are banned from doing business to include the financial corporation that handles U.S. remittances to Cuba. U.S. sanctions have further crippled an economy already struggling with a decline in aid from leftist ally Venezuela and the end of hard-currency generating Cuban medical missions in Brazil and elsewhere. Philip Peters who runs the business consultancy FocusCuba and had advised Marriott, said no good had come from a lifetime of U.S. sanctions that separated the U.S. and Cuban peoples, harmed Cuba's economy, and limited American influence in Cuba. "Marriott ... will hopefully return to do business in Cuba, along with others, to encourage American travel and to help Cuba prosper and integrate into the global economy," he said.

https://www.cnbc.com/2018/12/06/clues-in-marriott-hack-are-said-to-implicate-china.html

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Marriott International

Clues in Marriott hack are said to implicate China

Hackers behind a massive breach at hotel group Marriott International left clues suggesting they were working for a Chinese government intelligence gathering operation, according to sources familiar with the matter. Marriott said last week that a hack that began four years ago had exposed the records of up to 500 million customers in its Starwood hotels reservation system. Private investigators looking into the breach have found hacking tools, techniques and procedures previously used in attacks attributed to Chinese hackers, said three sources who were not authorized to discuss the company's private probe into the attack. That suggests that Chinese hackers may have been behind a campaign designed to collect information for use in Beijing's espionage efforts and not for financial gain, two of the sources said. While China has emerged as the lead suspect in the case, the sources cautioned it was possible somebody else was behind the hack because other parties had access to the same hacking tools, some of which have previously been posted online. Identifying the culprit is further complicated by the fact that investigators suspect multiple hacking groups may have simultaneously been inside Starwood's computer networks since 2014, said one of the sources. The Chinese Embassy in Washington did not return requests for comment. If investigators confirm that China was behind the attack, that could complicate already tense relations between Washington and Beijing, amid an ongoing tariff dispute and U.S. accusations of Chinese espionage and the theft of trade secrets. Marriott spokeswoman Connie Kim declined to comment, saying "We've got nothing to share," when asked about involvement of Chinese hackers. Marriott disclosed the hack on Friday, prompting U.S. and UK regulators to quickly launch probes into the case. Compromised customer data included names, passport numbers, addresses, phone numbers, birth dates and email addresses. A small percentage of accounts included scrambled payment card data, said Kim. Marriott acquired Starwood in 2016 for $13.6 billion, including the Sheraton, Westin, W Hotels, St. Regis, Aloft, Le Meridien, Tribute, Four Points and Luxury Collection hotel brands, forming the world's largest hotel operator. The hack began in 2014, shortly after an attack on the U.S. government's Office of Personnel Management (OPM) compromised sensitive data on tens of millions of employees, including application forms for security clearances. White House National Security advisor John Bolton recently told reporters he believed Beijing was behind the OPM hack, a claim first made by the United States in 2015. Beijing has strongly denied those charges and also refuted charges that it was behind other hacks. Former senior FBI official Robert Anderson told Reuters that the Marriott case looked similar to hacks that the Chinese government was conducting in 2014 as part of its intelligence operations. "Think of the depth of knowledge they could now have about travel habits or who happened to be in a certain city at the same time as another person," said Anderson, who served as FBI executive assistant director until 2015. "It fits with how the Chinese intelligence services think about things. It's all very long range," said Anderson, who was not involved in investigating the Marriott case and is now a principal with Chertoff Group. Michael Sussmann, a former senior Department of Justice official for its computer crimes section, said that the long duration of the campaign was an indicator that the hackers were seeking data for intelligence and not information to use in cyber crime schemes. "One clue pointing to a government attacker is the amount of time the intruders were working quietly inside the network," he said. "Patience is a virtue for spies, but not for criminals trying to steal credit card numbers." FBI representatives could not immediately be reached for comment on the evidence linking the attack to China. A spokesperson said on Friday that the agency was looking into the attack, but declined to elaborate. Correction: This report has been updated to reflect that hackers were in the Starwood network since 2014. Marriott did not acquire Starwood until 2016.

https://www.cnbc.com/2020/05/11/stocks-making-the-biggest-moves-midday-lyft-under-armour-yelp-marriott-more.html

MAR

Marriott International

Stocks making the biggest moves midday: Lyft, Under Armour, Yelp, Marriott & more

The Marriott hotel in Times Square is barricaded as much of the city is void of cars and pedestrians over fears of spreading the coronavirus on March 22, 2020 in New York City. Check out the companies making headlines midday Monday: Marriott International — Shares of the hotel operator fell more than 5% after reporting dismal quarterly earnings. Marriott reported adjusted earnings of adjusted 26 cents per share for the first quarter, well below the consensus estimate of 80 cents, according to Refinitiv. Marriott said business was improving in China, and stabilizing in the rest of the world, although at extremely low levels. AutoNation — Shares of the car retailer jumped 5.5% after the company reported better-than-expected revenue for its latest quarter. AutoNation reported sales of $4.667 billion, compared to the $4.57 billion expected by analysts, according to Refinitiv. AutoNation said sales did strengthen during the final 10 days of April. Lyft — An analyst at Stifel downgraded the ride-hailing company to hold from buy, sending Lyft shares down 5%. "We are challenged to continue to recommend shares at this time given the likely slow and uncertain path to recovery for the domestic ridehailing market," the analyst wrote in a note to clients. Yelp — Yelp shares dropped 5.6% after an analyst at BMO Capital Markets downgraded them to market perform from outperform, noting there were "no silver linings" from the company's disappointing quarterly results. AbbVie — AbbVie's stock climbed 1.5% after Morgan Stanley resumed coverage of the biopharmaceutical company with an overweight rating. "We view Humira erosion fears as overly discounted and Abbvie's prospects as underappreciated. This is an earnings and multiple call, and we see a positive risk-reward skew given ABBV's 5.6% dividend yield," according to the analyst. Nvidia — Needham hiked its 12-month price target on the chipmaker to $360 per share from $270 per share, implying an 18.4% upside from Friday's close of $312.50. The hike was driven by "higher Nintendo Switch estimates and discrete GPU sales due to strong adoption of gaming titles." Nvidia shares traded 3.1% higher. American Airlines , United , Delta — Airline stocks fell on Monday as investors had doubts about the U.S. reopening the economy effectively. The shares also fell after the United Kingdom implemented new restrictions on people traveling to the country. United Airlines fell 7.1%, while United dropped 3.9% and American fell 3.6%. Royal Caribbean , Norwegian Cruise Line , Carnival — Cruise line stocks fell broadly as investors grew jittery about a potential second wave of coronavirus cases as global economies start to reopen. Royal Caribbean traded lower by 4.8% and 3.2%, respectively, while Norwegian Cruise Line dropped 6.2%. Cardinal Health — Shares of the drug distributor rose more than 5% after reporting adjusted quarterly earnings of $1.62 per share, beating the consensus estimate of $1.43, according to Refinitiv. Revenue also beat forecasts of $36.95 billion, coming in at $39.16 billion. Its businesses did see increased volume related to the coronavirus pandemic. Mosaic — Mosaic shares dropped more than 8% after an analyst at Bank of America downgraded the stock to underperform from buy. The analyst said "potash and phosphate are unlikely to see significant price recovery given abundant global supply of both nutrients as well as weakening demand from Southeast Asia and the broader northern hemisphere." Under Armour — Under Armour shares dropped 13% after the retailer said first quarter sales declined by 23% as stores closed during the global pandemic. For the quarter the company lost 34 cents per share on an adjusted basis, on revenue of $930.2 million. The company outlined plans to cut costs by $325 million in 2020 amid the ongoing sales slump. —CNBC's Michael Bloom, Jesse Pound, Pippa Stevens and Jesse Pound contributed to this report. Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

https://www.cnbc.com/2020/08/10/marriott-posts-first-quarterly-loss-in-nearly-nine-years-as-virus-hits-bookings.html

MAR

Marriott International

Marriott posts bigger-than-expected loss as virus hits bookings

U.S. hotel operator Marriott International posted a bigger-than-expected quarterly loss on Monday, as the coronavirus crisis curbed global travel and led to a plunge in room bookings. Marriott's shares, down 40.3% this year, fell 3% in premarket trading as the company also reported an 84.4% plunge in revenue per available room (RevPAR) - a key performance measure for the hotel industry. However, Marriott echoed smaller rival Hilton's comments from last week, saying it now expects a gradual rise in occupancy rates across the world although it may take a few years for them to return to pre-COVID period demand levels. "While our business continues to be profoundly impacted by COVID-19, we are seeing steady signs of demand returning", Chief Executive Officer Arne Sorenson said in a statement, adding that Greater China continued to lead the recovery. Marriott said it was seeing a recovery across all regions, with global occupancy rates of 34% for the week ended Aug. 1, up from 11% in week ended April 11. In China, occupancy levels have reached 60%. The company said it has reopened 91% of its worldwide hotels, compared with 74% in April. On an adjusted basis, Marriott reported a loss of 64 cents per share in the second quarter ended June 30, bigger than analysts' expectation of a loss of 42 cents per share, according to IBES data from Refinitiv. Marriott previously reported a quarterly net loss in 2011 due to a charge related to its now spun-off timeshare business. Total revenue plunged 72.4% to $1.46 billion, missing estimates of $1.68 billion.

https://www.cnbc.com/2019/07/10/gdpr-fines-vs-marriott-british-air-are-a-warning-for-google-facebook.html

MAR

Marriott International

Europe's huge privacy fines against Marriott and British Airways are a warning for Google and Facebook

Arne Sorenson, President and Chief Executive Officer of Marriott International. Anjali Sundaram | CNBC British Airways and Marriott received the largest-ever fines under the EU's new General Data Protection Regulation this past week. The U.K. Information Commissioner's Office (ICO) fined British Airways a proposed $230 million for an incident that took place from June to September 2018 and compromised the data of 500,000 customers. The ICO gave Marriott a $123 million proposed penalty for the loss of 339 million guest records, reported in November 2018. Both companies have the opportunity to respond to the fine before the ICO issues a final decision, and both companies already indicated they will appeal the decision. But the GDPR fines were important for reasons well beyond numbers. The GDPR is a very broad rule with little detail, and companies have had few insights into how regulators in the EU would interpret the law, particularly what they would consider "adequate" security measures. The maximum GDPR fine is 4% of a company's global turnover. The fines for BA and Marriott both represented 1.5% of their respective turnover, and the commission said both companies cooperated fully with their respective investigations. This makes the stakes particularly high for tech companies like Google and Facebook , which are either currently under investigation in the EU, and for whom the legislation essentially was tailor-made. Google could face a fine of up to $5 billion, and Facebook up to $2.2 billion, based on both companies' annual revenue in 2018. Earlier this year, the ICO indicated it would investigate Google over leaking of customer data from its advertising platform. Google has already faced scrutiny and fines under the GDPR from France's regulator, with a $57 million penalty levied in January for "lack of transparency" and valid consent controls for users, among other issues. Facebook has also received modest penalties for the Cambridge Analytica scandal, in which users weren't given proper notice that a survey was being used for political research and advertising. The company incurred a modest fine of $644,000 for that incident, but is currently under investigation for a breach of usernames and passwords on its Facebook and Instagram platforms that could be far more costly. A more punitive approach The decisions included punitive language that has been uncommon in the privacy enforcement arena, particularly in the U.S., where companies are traditionally treated as victims of cybercrime first, rather than perpetrators of data loss. This standpoint was reflected in a statement, filed with the Securities and Exchange Commission by Marriott CEO Arne Sorenson: "We are disappointed with this notice of intent from the ICO, which we will contest. Marriott has been cooperating with the ICO throughout its investigation into the incident, which involved a criminal attack against the Starwood guest reservation database." In fact, the European Data Protection Board questioned how well Marriott had vetted and protected data when it acquired Starwood in a $13.6 billion deal that closed in 2016. watch now "The GDPR makes it clear that organisations must be accountable for the personal data they hold. This can include carrying out proper due diligence when making a corporate acquisition, and putting in place proper accountability measures to assess not only what personal data has been acquired, but also how it is protected," the board said. The commission said less about its fine of British Airways, but the relatively short-term breach and relatively small number of affected customers show the commission may build past data security issues into its equation as well. British Airways parent IAG said it was "surprised and disappointed" by the decision, and said it would "vigorously" defend its stance. Putting everyone on notice While it's still to early to know what will happen after the companies contest the fine, companies are focusing closely on the early wording of the rulings by the commission, said Paul Ferrillo, partner in the cybersecurity practice at law firm Greenberg Traurig. "The proposed fine against Marriott should serve as notice to other companies both under investigation now, and investigated down the road, that the fines and penalties provision of the GDPR is the real deal," he said. "We are no doubt on notice of more fines and penalties to come by the EU regulators." The ICO has also shown it will focus on companies it sees has having been "lax in their responsibilities," not just every corporation large and small that has a data breach, said Chet Wisniewski, principal research scientist at U.K.-based cybersecurity company Sophos. "If this happened for years and you didn't remedy the system, and you had lots of chances, that's where the ICO might punish more," he said. "Marriott in particular will draw everyone to the M&A aspect of this, and how companies should ask [businesses they are about to acquire] 'what kind of private information do you have on our customers, what procedures and security measures do you have in place?'" The rulings should give companies a reason, once again, to evaluate whether their security measures are enough to withstand the ICO's scrutiny, Ferrillo said. They should also "reassess the amount and sufficiency of their cybersecurity insurance coverage," to be certain a hefty GDPR fine is covered, he said. Follow @CNBCtech on Twitter for the latest tech industry news.

https://www.cnbc.com/2019/04/29/marriott-to-launch-home-rental-platform-to-compete-with-airbnb-report.html

MAR

Marriott International

Marriott plans to launch home-rental market platform that would compete with Airbnb, report says

SAN FRANCISCO, CA - NOVEMBER 16: A sign is posted in front of a Marriott hotel on November 16, 2015 in San Francisco, California. Marriott International announced plans to purchase Starwood Hotels & Resorts for $12.2 billion. The deal would create the world's largest hotel company. (Photo by Justin Sullivan/Getty Images) Marriott International is gearing up to start a new home-rental business with the goal of competing with Airbnb and other home-sharing companies, The Wall Street Journal reports. Marriott is the world's largest hotel company and would be the first major hotel company to create a home-rental platform for the U.S., following its pilot program in Europe. The company partnered with Hostmaker, a home-rental management company, and offered 340 properties for home-sharing stays in Paris, Rome, Lisbon and London. The properties came with a 24-hour support line and an in-person check-in through Hostmaker, Marriott told the Journal. Marriott would allow guests using the platform to earn and redeem loyalty points as they do with other brands Marriott owns, including Sheraton, W hotels and Ritz-Carlton. Marriott did not immediately respond to CNBC's request for a comment. Other hotel operators such as Hilton Worldwide Holdings and Hyatt Hotels are also exploring or studying the home-rental industry, according to the Journal. Hyatt Hotels had a minority stake in onefinestay, a company offering upscale rentals that was later acquired by Accor. Hyatt also had a stake in Oasis Collections and incorporated the firm's rental listings into its loyalty program and distribution system until it severed ties with the company when it was taken over by Vacasa. This comes as Airbnb began to expand into the traditional hotel business last month when it acquired Hotel Tonight, a company that collects bookings from hotels and offers them at a discounted price. Airbnb also recently invested in Oyo Hotels & Homes, an Indian hotel-booking company. Airbnb just announced that it will be partnering with RXR Realty, a New York City developer, to launch its first hotel, which can be booked on Airbnb's platform. As the world's biggest hotel company, Marriott owns about 1.3 million guest rooms globally, according to data tracker STR, while Airbnb has nearly 5 million rooms listed, according to AirDNA. New competition for Airbnb comes as a number of city governments have said some of the platform's hosts have turned their homes into illegal hotels.

https://www.cnbc.com/2018/11/30/marriott-says-its-starwood-database-was-breached-onapproximately-500-million-guests-.html

MAR

Marriott International

Marriott says its Starwood database was hacked for approximately 500 million guests

Marriott International said on Friday that hackers illegally accessed its Starwood Hotels brand's reservation database since 2014, potentially exposing personal information on about 500 million guests. Shares of the company fell nearly 6 percent to about $115 in trading before the bell. The company said for 327 million guests, personal information compromised could include passport details, phone numbers and email addresses. For some others, it could include credit card information. The company said it learned about the breach after an internal security tool sent an alert on Sept. 8. On further investigation, the hotel chain learned data had been hacked long before. The company, which bought Starwood in 2016, said it had reported the incident to law enforcement and had begun notifying regulatory authorities.

https://www.cnbc.com/2020/03/09/aon-to-buy-willis-for-nearly-30-billion-in-insurance-mega-deal.html

MMC

Marsh McLennan

Aon to buy Willis for nearly $30 billion in insurance mega-deal

U.K.-based insurance broker Aon Plc said on Monday it would buy Willis Towers Watson for nearly $30 billion in an all-stock deal that creates the world's largest insurance broker and adds scale in a battle with falling margins. The deal unifies the sector's second and third largest names into a company worth $76 billion by current share prices, overtaking market leader Marsh & McLennan, as they face challenges ranging from the coronavirus to climate change. First mooted a year ago, the deal also comes after a period of brutal competition which has seen insurance premiums fall while claims continue to grow. Aon confirmed last year that it was in early stage talks with Willis Towers before quickly scrapping the plans, without giving a reason. Analysts said at the time that an Aon-Willis deal might have trouble clearing anti-trust hurdles. The deal terms state Aon will be obligated to pay a fee of $1 billion to Willis if the deal were to fall through. Marsh last April sealed its own purchase of British rival Jardine Lloyd Thompson for $5.7 billion, cementing its position as the biggest global player. Under the deal, Willis shareholders would receive 1.08 Aon shares, or about $232 per share as of Aon's Friday close, representing a total equity value of $29.86 billion. The offer is at a premium of 16% to Willis's closing price on Friday. Shares in Aon were down 2.7%, while Willis' shares rose just 1.42% in trading before the bell in a New York market that was set to fall heavily across the board due to Monday's collapse in oil prices. "Aon generally has a successful acquisition history but given the timing it is not certain how investors will react to the acquisition in the short-term," said Paul Newsome, managing director at brokerage Piper Sandler. When the deal closes, existing Aon shareholders will own about 63% and existing Willis investors will own about 37% of the combined company on a fully diluted basis. The deal is expected to add to Aon's adjusted earnings per share in the first full year of the deal, with savings of $267 million, reaching $600 million in the second year, with the full $800 million achieved in the third year. Newsome said the deal multiple was about 19.3 times 2020 earnings per share (EPS) estimate of $12 for Willis and about 12.3 times its 2020 core earnings (EBITDA) estimate. This compares to the peer group median trading at about 22.6 times earnings and 13.6x core earnings, he said. The deal is subject to the approval of shareholders and regulatory approvals and is expected to close in the first half of 2021. Aon will maintain its headquarters in London and the combined firm will be led by Aon Chief Executive Officer Greg Case Greg Case and Aon Chief Financial Officer Christa Davies. Aon's financial advisor for the deal is Credit Suisse Securities, while Willis was advised by Goldman Sachs.

https://www.cnbc.com/2018/11/18/cyber-911-scenarios-power-outages-bank-runs-changed-data.html

MMC

Marsh McLennan

Power outages, bank runs, changed financial data: Here are the 'cyber 9/11' scenarios that really worry the experts

REUTERS/David Mdzinarishvili For years, government security specialists have predicted the inevitable "cyber 9/11," an event originating as a digital attack that spills over into other aspects of society, causing widespread harm to people and the global financial sector. Former NSA head Admiral Michael Rogers told CNBC last month that "nothing is beyond the pale of possibility" for cyberattacks. Fear sells. So it can be hard to know what experts really fear might happen, versus hype meant to market a new cybersecurity product or service, or drum up attention on social media. But there are some nightmare scenarios that have precedent. These are the scenarios that truly concern independent cybersecurity experts. They fall into three common themes: physical attacks that shut off or damage some aspect of critical services, financial attacks that spin out of control and lead to bank runs, and hackers changing data in a way that erodes trust in the economy and critical institutions. Knocking out basic services Cyberattacks that cause major disruption to public services have happened many times in the real world. Some of them are very old news, in fact. But it's easy to imagine how a similar attack could shut down basic services, like electricity or water, that affect millions of people. In 2000, a disgruntled sewage treatment plant worker in Queensland, Australia hacked into his employer's industrial control system to unleash torrents of raw sewage onto public grounds, flooding the city's local Hyatt hotel. The perpetrator was sentenced to two years for the attack. In 2007, the country of Estonia was subject to widespread outages in its entire telecommunications network, following a cyberattack stemming from a dispute with Russia over a military statue. The incident was so damaging, it led to a decision to place the North Atlantic Treaty Organization's Cyber Security organization in Tallinn, the country's capital. In 2015, Ukraine's power grid had massive outages after a cyberattack — which some officials have attributed to Russia — two days before Christmas, during a cold snap. Around a quarter-million residents were left without power, but the outages only lasted a few hours before government agencies were able to restore service. Major cyberattacks aimed at taking down official services don't need to be strictly nation-state sponsored or terrorist-backed. They can be strictly criminal in nature, or come from a malevolent backer under the guise of a criminal attack. The NotPetya cyberattacks of June 2017, known by the name of the criminal ransomware-inspired computer virus behind it, were notorious for the real-world harm they caused to companies. In Germany, consumer goods-maker Reckitt Benckiser halted shipments of numerous products. Ships belonging to logistics giant Maersk were at a standstill, and the company later said it took a $300 million hit from the attack. In the U.S., a facility owned by Merck that makes the HPV vaccine Gardasil was shut down to such a big extent, the company had to borrow hundreds of millions of dollars worth of back-up vaccines stockpiled by the Center for Disease Control. Power outages or water supply corruption are the most worrisome to Peter Beshar, general counsel for risk management firm Marsh & McLennan . Loss of electricity, he said, is just one piece of the greater risk for physical security stemming from a cyberattack. "Utilities are one vital resource. But it's not just power, water is another type of utility. If all of a sudden, the quality of drinking water is called into question, and then manufacturers who rely on using untainted water for making drugs or food is called into question. That is a potential crisis," he said. A financial-sector attack that triggers a run Financial regulators often talk about the risk of "contagion" as a result of an attack on banks or institutions like the New York Stock Exchange. The fear is that a cyberattack could send customers rushing to banks in a panic to pull out funds. "When you have significant impact to financial systems and people can't get to their money, they can cause just as much duress to the system as a major network outage," said Jacqui McNamara, head of cyber security services at Australia's largest telecom, Telstra, at an Oct. 23 cybersecurity conference in Australia. These scenarios are both possible and alarming enough that companies and private-sector organizations have spun up some huge projects to protect against them. "Imagine a cross-cutting attack that just ripples through the financial sector," said Beshar. "If consumers couldn't get cash out of ATM machines, if credit cards weren't functioning, that would be very problematic." One of those initiatives, Sheltered Harbor, is a not-for-profit subsidiary of the Financial Services Information Sharing and Analysis Center. It's got about 70 participants, including big names like Citi , Morgan Stanley and Goldman Sachs . The purpose is to ensure banks can pull up the right information about customer accounts and still reconcile transactions in the face of a catastrophic cyberattack. The initiative is especially focused on an event that significantly destroys data, or takes critical systems out of service for an extended period of time. For banks that are a part of Sheltered Harbor, the organization provides standards designed to back up the financial data they generate each day. This would give banks a way to restore data that's lost in any attack. Changing data so it's wrong Criminals or nation-states could also change data, like financial information on balance sheets or commands going into an industrial machine, instead of merely stealing it or deleting it. That's a big concern for Dmitry Samartsev, CEO of BI.ZONE, a Russian cybersecurity coordination organization for the country's banks. "The worst case scenario is when [cybercriminals] are making several attacks at one time," he said at the Oct. 23 conference. For instance, an attacker might launch a simple denial-of-service assault on a corporation, shutting down its web site other services, then combine that with a slew of fake news on social media meant to imply major institutions are going to be out of service. The result could be panic. There's some precedent here, too. In 2015, BNY Mellon had a technical glitch that mispriced some securities. That jammed up the algorithms that are used for executing automated trades, and the result was a swift 1,000-point drop in the Dow. A hacker took over the Twitter account of the Associated Press in 2013, tweeting "Breaking: Two Explosions in the White House and Barack Obama is injured." The stock market instantly fell 143 points. Tom Kellermann, a former top cybersecurity officer for the World Bank and chief cybersecurity officer of security firm Carbon Black, agreed that he's most afraid of data being altered, instead of stolen or lost. "Integrity of data is key. If you lose your ability to trust the information that is coming out of the financial sector, that is when things can turn dark and very quickly," he said.

https://www.cnbc.com/2019/07/19/working-hard-is-not-enough-to-get-a-promotion-heres-how-to-stand-out.html

MMC

Marsh McLennan

Working hard no longer enough to get a promotion. Here's how to stand out

Climbing the corporate ladder is core to the idea of an American capitalism that offers the opportunity for a high level of success to all, but it is currently failing many workers. Forty percent of American workers are dissatisfied with the opportunities for advancement in their company, according to the latest CNBC/SurveyMonkey Workplace Happiness Survey. SurveyMonkey chief research officer Jon Cohen noted that of all the factors studied in the survey, this was the factor with which workers were most dissatisfied. This finding was not shocking to Bud Bilanich, a business professor at the University of Denver and author of "Climbing the Corporate Ladder." "I think that lots of people feel that they should have the opportunity to move up a little quicker so they get frustrated," Bilanich said. "I think [40%] is a high number, but it really doesn't surprise me." In seeking out a promotion, workers were confident that having a strong work ethic was the most important factor. Twenty-four percent of respondents said working hard would be the most help in receiving a job upgrade. Networking (19%) and receiving an advanced degree (16%) rounded out the top three. The CNBC/SurveyMonkey Workplace Happiness Survey was conducted from June 21–30, 2019, among a national sample of 7,940 workers in the U.S., with a margin of error +/-1.5 percentage points. Bilanich said too many people believe hard work alone will open the doors. "Everybody's working hard. Everybody's becoming an excellent performer. Working hard ... isn't going to be enough because your competition is also working hard and making contributions," Bilanich said. "To me, I think that hard work, and beyond hard work, the idea that your work has really produced some good, solid, measurable results for your company, is kind of like the price of admission." For more on tech, transformation and the future of work, join CNBC at the @ Work: People + Machines Summit in San Francisco on November 4. Leaders from Dropbox, Sas, McKinsey and more will teach us how to balance the needs of today with the possibilities of tomorrow, and the winning strategies to compete. Ben Brooks understood at a young age that getting the promotions he wanted required something beyond just doing his job well. Upon graduating from the University of Denver in 2004, he worked briefly at Lockheed Martin before settling down as a management consultant at Oliver Wyman. From there, he bounced around parent and sister companies racking up promotions along the way. By the age of 30, he was one rung below the C-suite level at Marsh , a risk management and insurance company with over $6 billion in annual revenue. Brooks said the most important factor in getting these promotions was not hard work or networking, but simply being a strong advocate for himself. "I asked for [the better job opportunities]," Brooks said. "I didn't wait to get sort-of tapped on the shoulder or selected or picked. I told people the job I wanted to have or the promotion I wanted to have and then I asked what I needed to do to get it, and then I did those things."

https://www.cnbc.com/2021/05/07/insurers-brace-for-lawsuits-as-workers-return-to-the-office.html

MMC

Marsh McLennan

Insurers brace for lawsuits as workers return to the office. Employers should avoid these pitfalls

In this article TRV AIG A Follow your favorite stocks CREATE FREE ACCOUNT watch now As U.S. businesses bring workers back to the office, big insurers like Chubb , AIG and Travelers are bracing for an onslaught of claims related to employment and labor lawsuits. Covid-related litigation and complaints have steadily risen throughout the pandemic, with California and New Jersey, seeing the most filings, according to Jackson Lewis, an employment and labor law firm that tracks these numbers. Experts say it's likely to increase as courts wade through a backlog of cases and government agencies deal with pent-up claims. "The employment practices liability carriers are very mindful of the additional claims activity that hasn't yet materialized," said Kelly Thoerig, a U.S. employment practices liability coverage leader at consulting firm Marsh McLennan. Employers are walking a tightrope in organizing a return to work, fraught with liability and risk, she said. Three key things employers must consider in order to protect against litigation: Who returns to work? Management needs to evaluate whether they're discriminating against protected classes of employees when they make decisions about who to bring back to the office first. "Who did you let go? Who did you send home?" she said, running through a list of critical questions. "Who is first in line to be allowed to come back? Or who are you requiring to come back?" Ensuring a safe workplace When employees come back, companies need to make sure it's a safe environment. That raises additional questions about whether workers should wear masks, or if a company should require a Covd-19 vaccination. Although it's legal for employers to mandate vaccines for workers, it may not be advisable, Thoerig said. This is partly because of "downstream liability if an individual were to have a serious reaction to or complication as a result of the vaccine," she said. On the other hand, some employees or customers may demand businesses require vaccines. "This provides employers with different but very real business and legal concerns: Are they doing enough to keep their employees and customers safe?"said Frank Alvarez, co-leader of Jackson Lewis' disability, leave and health management practice. "Are they managing privacy concerns, employee medical choice and the countervailing employee relations issues between those who are vaccinated and those who are not?" Thoerig said she urges her clients to use incentives to coax resistant employees to get the vaccine. For example, Wynn Resorts demands weekly Covid-19 tests with negative results for its workers who have not been inoculated. This gives an employee an incentive to get a shot. Requests for accommodation The U.S. Equal Employment Opportunity Commission data shows an uptick in disability discrimination claims filed with the agency traduring the pandemic. Insurer Travelers said it suspects accommodation conflicts are driving the increase. For example, if an employee asks for the ability to continue to work from home because he has a condition that puts him at a heightened risk if he contracts Covid-19. If the request is denied, the employee may sue for the accommodation. This situation could also arise if an employee says she can't take the vaccine because of an allergy. If the employer mandates it anyway, she may say her employer discriminated against her because of it. "The notion that certain individuals or classes of people or even individual employees are being favored or disfavored over others, immediately should raise should raise concerns," Thoerig said. As employees are called back into the office in greater numbers, they may also have a strong argument, Thoerig said. "We've effectively done our job from our home office, from our basement, for the last 12 to 14 months. And why is that not a reasonable accommodation when I've been just as productive as I have from home?" she said. Thoerig has told clients to be as flexible as they can be in granting requests for accommodations. "Employers are trying very hard to juggle all of these considerations," Alvarez said. "The business community has never really faced a situation where the law is so uncoordinated and provides such little guidance on potential legal exposures."

https://www.cnbc.com/2018/09/18/stocks-making-the-biggest-move-premarket-azo-gis-v-ma-wmt-ghc--more.html

MMC

Marsh McLennan

Stocks making the biggest move premarket: AZO, GIS, V, MA, WMT, GHC & more

Check out the companies making headlines before the bell: AutoZone – The autoparts retailer earned an adjusted $18.54 per share for its fiscal fourth quarter, beating the consensus estimate of $17.92 a share. Revenue missed forecasts, however, and a same-store sales increase of 2.2 percent was also slightly below estimates. General Mills – The food company came in 7 cents a share above estimates, earning an adjusted 71 cents per share for its first quarter, though revenue missed forecasts. General Mills also reiterated its full-year forecast. Visa , Mastercard – The two payment processors signed an amended settlement agreement related to a merchant fee lawsuit filed in 2005 and originally settled in 2012. Visa will pay an additional $600 million, while Mastercard pays another $108 million. Walmart – The retailer's stock was rated "outperform" in new coverage at BMO Capital, saying Walmart is uniquely positioned among U.S. retailers for long-term e-commerce profitability. Graham Holdings - Graham's Kaplan Test Prep unit bought the test prep business of Barron's for an undisclosed amount. As part of the transaction, Kaplan acquired the rights to the Barron's brand name. Alphabet – Alphabet's Google unit is partnering with the Renault-Nissan-Mitsubishi alliance to use its Android operating system in automobile media displays. Apple — The Apple Watch and various other consumer gadgets are being exempted from the newest round of tariffs on goods imported from China. Amazon.com – Amazon plans to release at least eight new Alexa-related products before the end of the year, according to sources who spoke to CNBC. The devices include microwave ovens and an in-car gadget, with full details to be released at an event later this month. FedEx – FedEx reported adjusted quarterly profit of $3.46 per share, falling short of the $3.81 a share consensus estimate, although its revenue did beat Street forecasts. FedEx said its results were impacted by a move to accelerate pay raises following tax reform, and the company did raise its full-year earnings guidance. Oracle – Oracle beat estimates by 2 cents a share, with adjusted quarterly profit of 71 cents per share. The business software company's revenue fell slightly below forecasts, however, amid disappointing sales in its cloud services and license support unit. Athenahealth — Elliott Management has backed away from its potential $160 per share bid for Athenahealth, according to the New York Post. Investor Paul Singer's firm had said in May it was willing to pay that price — a total of $6.9 billion — contingent on due diligence. Sources tell the paper that Singer may be mulling a bid for the health software company at a lower price. Avon Products – Avon was recently approached by Brazilian cosmetics company Natura Cosmeticos about a possible takeover, according to sources quoted by Dow Jones. However, the sources say the talks are not serious and Avon is focused on a turnaround. Macy's – CEO Jeffrey Gennette told Recode's Code Commerce event that tariffs will start to effect Macy's and other department stores more significantly than other businesses because of their impact on apparel. Gennette added that the company is taking a variety of steps to address that issue. Symantec – Symantec named three nominees from activist investor Starboard Value to its board of directors. Starboard had taken a stake in the cybersecurity software company last month, and had nominated five director candidates. Netflix – The video streaming service tied with AT&T's HBO in last night's Emmy Awards, with each receiving 23. Marsh & McLennan – Marsh & McLennan is buying U.K.-based insurance brokerage Jardine Lloyd Thompson for $5.7 billion in cash. The move will boost the U.S. insurer's specialty risk and global reinsurance operations. Univar – The chemical company is buying chemical and plastics distributor Nexeo for $2 billion in cash and stock, valuing it at $11.65 per share. Nexeo, whose stock had closed Monday at $10.01 per share, had been bought two years ago for $1.6 billion by a company run by now-Commerce Secretary Wilbur Ross.

https://www.cnbc.com/2017/05/15/aig-names-turnaround-expert-duperreault-as-ceo-to-improve-performance.html

MMC

Marsh McLennan

AIG names turnaround expert Duperreault as CEO to improve performance

American International Group named Brian Duperreault as its new chief executive officer on Monday, selecting a protege of former CEO Hank Greenberg and an industry veteran known for his turnaround expertise. Duperreault, age 70, is the founder and chief executive officer of Hamilton Insurance Group in Bermuda, and is seen as a short-to-medium term replacement for outgoing CEO Peter Hancock, who announced plans to depart in March after the insurer's fourth-quarter loss stunned investors and AIG's board. He may only stay at AIG for 3 to 5 years to finish an ongoing turnaround effort and groom a successor, several recruiters said in interviews. "Brian is uniquely qualified to lead AIG at this important time," Douglas Steenland, chairman of AIG's board said in a statement. "He is a hands-on leader who has consistently delivered strong bottom-line results," Steenland said. The company's shares were up 1.7 percent at $62.01 in premarket trading on Monday. AIG is nearly three-quarters of the way through a turnaround plan developed by Hancock, who intended to slim the New York-based insurer through divestitures, improve its financial performance and return $25 billion worth of capital to shareholders. Although AIG's poor fourth-quarter performance was a tipping point for many investors, including billionaire activist Carl Icahn, the company has since bounced back. Its first-quarter operating profit beat expectations, helped by investment returns and cost cuts. AIG's board has also authorized an additional $2.5 billion in share repurchases, putting the company closer to its capital return target. Since announcing the goal, AIG has spent more than $18 billion on stock buybacks and dividends. Duperreault is described by many in the insurance business as the industry's "elder statesman." After moving up the ranks at AIG early in his career, he left in 1994 to build ACE Group Inc from a small outfit to a global operation. Duperreault, who took charge of Marsh & McLennan Companies in 2008, launched a successful turnaround effort at the company, which had been struggling with reputational issues and lost business after then-New York Attorney General Eliot Spitzer alleged that it had rigged bids for insurance contracts. Marsh paid an $850 million civil penalty in 2005 to settle the claims. However, Duperreault's appointment as AIG's head could test whether those seen as possible internal candidates for the CEO job will stay on board to help achieve Duperreault's goals. The most prominent was Rob Schimek, CEO of AIG's commercial insurance unit, who joined the company in 2005 as its chief financial officer. Industry sources describe Schimek, age 52, as capable and accomplished, though he lacks Duperreault's turnaround experience. During his time at AIG, he has been credited with helping ink reinsurance pacts with Swiss Re and Berkshire Hathaway to offset long-term risks on U.S. commercial insurance policies.

https://www.cnbc.com/2018/08/02/cybersecurity-investor-guide-duo-splunk-tanium-what-do-they-do.html

MMC

Marsh McLennan

Cybersecurity is red-hot for investors — here's what Duo, Splunk, Tanium and the rest of those companies actually do

Dug Song, left, and Jon Oberheide of Duo Security Source: Duo Security Cisco announced on Thursday that it would acquire Duo Security, a company that specializes in products that help companies manage identity and secure access to devices, for $2.35 billion. Cisco's move makes sense. One of the most pressing issues in cybersecurity today is how to authenticate users, or prove that they are who they claim to be. It's the problem that leads to some of the cybercrimes most expensive to business -- like email compromise, wire fraud and theft of valuable intellectual property. It's also at the root of the attacks suffered by the Democratic National Committee in the 2016 election. Duo Security is just one of the companies that fall under the banner of identity and access management, a cybersecurity discipline which itself is just a slice of the overall cyber market. This is a quick snapshot of that market and some of its established and emerging players. Several of these companies have multiple offerings in each space, but to keep list narrow, we've focused on one key offering per company. Identity and access management: Controlling who gets in Companies like Duo, LogMeIn, RSA Security and Okta provide a variety of ways for companies to manage who has access to various applications and computers. They're increasingly focusing on mobile devices. Most large technology companies also have add-on products for identity management. Some companies are moving toward biometric solutions to either replace or augment passwords, which are increasingly proving to be vulnerable. In January, Facebook acquired Confirm.io, a company that in part provides biometric identity verification. Microsoft launched a number of biometric login enhancements with its new operating system. Companies like Yubico and Google are expanding offerings of hardware as well, including USB-drive security keys that can be used to authenticate users. Google has said their product has completely eliminated account takeovers internally at the technology company. Security operations: Managing threats Many companies have a small cybersecurity staff, but need more people to monitor their networks and flag incoming threats around the clock. Some companies provide a comprehensive line of services for this, including fully staffed security operations centers. Fully-managed operations services are available from cybersecurity companies like Trustwave and AlienVault, and traditional technology companies like IBM and consulting firms like Ernst & Young . There are also thousands of software options for the professionals who work in security operations. The main purpose of this software is to wrangle, sift through and make sense of the millions of security alarms, warnings and incidents happening at once, all of which security professionals have to monitor. One goal is to help companies identify attempts to break in as they're happening, so corrective action can be taken. These products often use a combination of machine learning and monitoring of "endpoints," or all devices in a company. Companies like Splunk , Tanium and LogRhythm offer analytic products to help make sense of incoming information. Companies with intrusion detection offerings include Corero , Juniper Networks , and HP Enterprise , as well as some of the big ISPs that cater to companies, including AT&T and CenturyLink . Cyber-risk: Figuring out what could go wrong Thousands of companies help analyze cybersecurity risks through so-called "tabletop" exercises, in which companies hire consultants to do a dry run of a cyber attack with the goal of identifying gaps. Some of the biggest are consulting practices within FireEye , Booz Allen Hamilton and Marsh & McLennan Companies . Companies like Tenable, Qualys and Rapid 7 try to quantify risk for a board-level audience, with a focus on managing vulnerabilities. They provide software and other tools that take into consideration changing threats, regulations and cyber intelligence, to try to capture the ever-changing risk portrait for the board, c-suite and cybersecurity executives. Since any type of risk mitigation, including risk from cyber attacks, is usually handled by buying insurance to cover possible costs of a disaster, many insurance companies have expanded to include cybersecurity services in recent years. Sometimes these services come as part of an cyber insurance package, involving a risk assessment and help identifying and fixing problems. In other cases, insurance companies provide ongoing monitoring services or program recommendations that could help lower a company's premiums. Insurance companies like Chubb , AIG and Hiscox have added a variety of tools meant to calculate cyber-risk and make recommendations for filling in gaps. Insurance company Aon recently launched a software risk management platform, with the backing of Apple and Cisco. Data loss: Closing the door before it's too late Tools for monitoring data loss have become increasingly important, as companies have sought to catch sensitive data moving outside corporate firewalls before it's too late. Companies including Symantec , McAfee, Proofpoint and Check Point all offer software products meant to catch data loss before it becomes a huge problem, whether that loss is from an outside criminal or an insider intent on stealing intellectual property. Antivirus/malware prevention: Stopping attackers from planting tools Many of the names in the data loss market, like Symantic and McAfee, may sound familiar, as most got their start in the traditional antivirus software market, monitoring for viruses and their later more sophisticated malware offshoots. Other names still going strong in the anti-virus and anti-malware market also include Malwarebytes, Bitdefender and the controversial but still popular Kaspersky Labs. Security architecture: Putting up walls Corporations have traditionally sought comprehensive tools to help build the backbone of their cyber defenses, including multiple firewalls to keep out intruders and segmented networks to prevent problems like the breach that affected Equifax last year. Companies like CA Technologies, Fortinet and Palo Alto Networks are big names that provide security architecture services, including company-wide device monitoring, setting up firewalls and segmenting networks. Building and monitoring "perimeter security" also is a key area of focus for security architects. Perimeter defense is also a primary offering of cyber companies Carbon Black and Crowdstrike. Investigations and forensics: Figuring out what went wrong Companies like Stroz Friedberg, Akamai and Kroll are on the speed-dial of many cybersecurity executives. These firms offer response services to active incidents as well as the computer forensics necessary to help determine what happened, where and why after a breach has occurred.

https://www.cnbc.com/2021/01/19/wef-risk-report-a-perfect-storm-is-brewing-in-the-response-to-covid.html

MMC

Marsh McLennan

A ‘perfect storm’ is brewing in the global response to Covid, WEF risk report panelist warns

People wearing protective face masks walk on the main shopping street in Munich, Germany during the coronavirus crisis on April 30 2020. Alexander Hassenstein/Getty Images LONDON — The "inward-looking national agenda" of certain countries in response to the coronavirus pandemic is threatening global resilience in the wake of the crisis, suggested one panelist behind the World Economic Forum's 2021 global risks report. Carolina Klint, risk management leader for Continental Europe at Marsh & McLennan, told CNBC's Geoff Cutmore on Monday that there were lessons to be learned in the collaboration required to get coronavirus vaccines developed at an "unprecedented speed." However, she added that the "inward-looking national agenda" of some countries was "a point of concern." Her comments come as some wealthier countries are being criticized by campaigners for "hoarding" more doses of coronavirus vaccines than they need, while lower-income countries struggle to get enough shots to immunize their populations. An Amnesty International report in December raised concerns about "vaccine nationalism," naming the U.K., U.S., EU, Japan, Canada and Australia as among the biggest advanced buyers of vaccine doses. On Tuesday, the co-chair of the World Health Organization's independent pandemic review panel, Ellen Johnson Sirleaf, shared her disappointment that "vaccine roll-out is currently favoring wealthy countries." Zombie companies; asset bubbles Klint said the "substantial" stimulus packages that governments had injected into their respective economies in the immediate response to the pandemic also dovetailed into the "ongoing trend towards self-sufficiency which has been accelerated by Covid-19." She added that there was the risk of "business zombification," if stimulus packages were not "properly structured." "So it's really a perfect storm here brewing," she said. So-called zombie companies are considered laggard businesses that need debt to operate, or earn just enough to survive and service their debt. This has been a concern amid the pandemic with increased support for businesses from governments and central banks. Similarly, Klint warned of asset bubbles — when an investment rises rapidly in price driven by market momentum rather than underlying fundamentals — as a another potential risk. watch now

https://www.cnbc.com/2017/10/17/insurance-payouts-may-not-cover-all-wildfire-damage-for-california-wineries.html

MMC

Marsh McLennan

Insurance payouts may not cover all wildfire damage for California wineries

Burned out wine bottles sit on a rack at the fire damaged Signarello Estate winery after an out of control wildfire moved through the area on October 9, 2017 in Napa, California. Wineries damaged by wildfires tearing through Northern California are starting insurance claims, and at least some of the smaller vintners are likely to find limits in their policies mean payouts fall short of rebuilding costs. Gaps in coverage and a spike in rebuilding costs, typical after a disaster, may come as a shock to many small wineries, favorites of Napa and Sonoma county tourists, said Tom Pagano, who heads the vineyard insurance practice for insurance broker Aon Plc. "The easy part of insurance is buildings burning down, Pagano said, describing the complicated claims process. Crops are covered, but not vines, and policies often impose quirky limits, such as when grapes spoil due to electrical failures instead of fires. The blazes came as harvest was ending and production was underway at many wineries. Even with best insurance protection, vines themselves can take years to grow and mature. Insured losses from the California wildfires will total billions of dollars for vintners, homeowners and other entities, said Pagano. Catastrophe risk modeler RMS calculates the region sustained $3 billion to $6 billion of insured and economic losses as of Oct. 12. The figures do not include automobile or crop losses, and RMS wrote in a blog post that long-term business interruption to the wine industry "could result in a higher total loss. The fires north of San Francisco Bay have destroyed at least a dozen wineries among more than 5,000 structures, as well as killing more than 40. About thirty wineries in the Napa Valley Vintners trade group reported "some degree of damage" including to wine-making facilities, vineyards and tasting rooms, said Patsy McGaughy, a spokeswoman for the group, which has surveyed half of its 550 members. About a half dozen wineries reported significant losses and are part of an industry that contributes $57.6 billion to the state's annual economy, according to industry figures. Vineyards, which mainly occupy the valley floor, appear to have been largely unscathed, as the fires in Napa County burned mainly in the hillsides, McGaughy said. Smaller wineries, especially, are likely to find "the limitations that were not expected" in their policies said Robert Gall, managing director for the National Property Claims Practice of insurance broker Marsh, a subsidiary of Marsh & McLennan Companies . Paradise Ridge Winery in Santa Rosa is one of the better prepared and is moving fast. It has hired a forensic expert to assess damages and a builder in order to stay ahead of the demand for construction services. "Its a maze of information and things to keep track of," said Sonia Byck-Barwick, who runs the winery with her brother, Rene. The winery has already started the insurance claims process with a specialty lines unit of Allianz, which covers its buildings and property, and Lloyd's of London, which covers wines in production and storage, she added. Fire destroyed its winemaking facility, tasting room, event center and 7,500 cases of wine. The winery is still shipping wine, thanks to 10,000 cases it stored elsewhere. About 12 weddings, scheduled on the property during the coming weeks, have been canceled, Byck-Barwick said. "Luckily we have great insurance which covers everything," Byck-Barwick said. "Some things might be a little low, but I feel very confident that we'll be able to rebuild," Byck-Barwick said. Other U.S. winery insurers include the Travelers Companies and Chubb . Smaller wineries may lack resources or expertise to negotiate additional coverage for issues such as spoilage caused by utility failures, which is typically subject to far lower limits than other parts of a policy, Aon's Pagano said. For example, a clause for the coverage may be limited to $100,000 and hidden deep in a policy that otherwise covers up to $2.6 million in damages. Wineries that try to cut corners by underinsuring must also often pay co-insurance, a type of penalty that is equivalent to a percentage of the underinsured amount, based on factors such as coverage the business should have had, and deducted from the final payout. "It's going to be a big issue," Pagano said.

https://www.cnbc.com/2017/08/28/cramer-tracks-hurricane-harveys-impact-on-energy-and-insurance-stocks.html

MMC

Marsh McLennan

Cramer tracks Hurricane Harvey's impact on stocks

As federal and local authorities rush to mitigate the devastating effects of Hurricane Harvey, CNBC's Jim Cramer took to tracking the storm's impact on industries in its path. "No two horrendous storms are alike. They're all terrible, and while it continues, the only thing that matters is that people are dying. Anything else is just much, much less important," the "Mad Money" host said. "But I know that many of you want to know if Harvey has any impact on investing, specifically on your portfolios, so I've got some ideas based on history." So Cramer put together a worst-case scenario for those invested in the storm based on the havoc wreaked by Hurricane Katrina, a massive 2005 storm that killed 2,000 and caused $100 billion in damage, according to the Federal Emergency Management Agency. The "Mad Money" host began with the losses incurred by the oil and gas industry. The United States exports roughly 5 million barrels of oil a day, including 3 million barrels of refined crude. Considering the major refinery shutdowns that have occurred in Houston, Galveston and Corpus Christi, Cramer assumed that some 30 percent of the product will be taken out of the equation. "That should jack up the price of refined product considerably around the country, even more than what's occurred. Now, Valero is the single most dominant refiner in the country, and on the company's website it says that it's not experiencing any material shutdowns in its operations. There should be an immediate spike to Valero's earnings," Cramer said. While Cramer added that the impact on other oil refiners would be too difficult to gauge, he said the stock of Valero, a San Antonio, Texas-based oil producer, should see more gains thanks to the jump in gasoline prices. But the drop in crude oil prices, paired with the refinery closures, has hit oil producers hard, particularly those in Texas' oil-rich Permian Basin. "So much of their capacity is exported, particularly refined product, which makes it even worse for them," Cramer said. Cramer also examined Harvey's impact on insurers. After Hurricane Katrina hit in 2005, large insurance companies like Allstate , Progressive and Chubb rallied for the following three months. Allstate shares gained 10 percent in the three months after Katrina, Progressive's stock jumped 20 percent, and Chubb shares vaulted 27 percent. "I think these insurers are all buys after another day or two of selling," Cramer said, including Hartford as another option. "In fact, it might not be an apples-to-apples comparison, as I expect the federal flood program will bear the brunt of the losses here. But it's safe to expect that insurers will be able to raise rates after a storm of this magnitude." The National Flood Insurance Program is part of FEMA, which announced Monday that over 450,000 people are expected to seek some form of flood-related disaster assistance. Re-insurers like AIG and Warren Buffett's Berkshire Hathaway , which help smaller insurance companies manage risk, will likely see a more complex outcome, Cramer said. After Katrina, most re-insurers' stocks took an initial hit, but recovered over the medium term because they were able to raise insurance rates. "I like this choice most of all given that Becky Quick from CNBC interviews Warren Buffett Wednesday and he will, no doubt, be extremely bullish about his company's prospects," Cramer said. Insurance brokers' stocks like Marsh & McLennan rose alongside the insurers. As for the outliers, real estate giant CBRE gained 35 percent after the 2005 disaster due to mass re-locations. While home improvement stocks like Lowe's and Home Depot ticked up on Monday, Cramer said not to expect substantial gains for do-it-yourself names. "Look, I feel miserable telling you how to profit from this very sad event. But history tells us what can happen in the worst-case scenario, and that case would end up applying here, which is why it's something we need to consider, and perhaps even act on," Cramer concluded.

https://www.cnbc.com/2021/11/08/cramer-says-the-rally-in-infrastructure-stocks-shows-the-newfound-power-of-retail-investors.html

MLM

Martin Marietta Materials

Cramer says the rally in infrastructure stocks shows the newfound power of retail investors

CNBC's Jim Cramer said the rally in infrastructure-related stocks Monday demonstrates the growing influence of retail investors on Wall Street. The "Mad Money" host expressed surprise that companies such as steelmaker Nucor and construction materials supplier Martin Marietta moved solidly higher during Monday's session, which was the first since the House of Representatives passed a more than $1 trillion infrastructure bill late Friday. "Historically, you had to buy before something good happens, and then sell into the news. The smart money always loaded up and crushed bids when stories broke, often leading to big losses for anyone who bought the news," Cramer said. "Not this market, though. The new pattern is insane if you've got experience, but it's making fortunes for newcomers." Cramer pointed to Nucor, in particular, to make his case. While he noted he's maintained an optimistic outlook on Nucor, he said there have been others on Wall Street who believed its stock had fully priced in most of the potential benefit from an infrastructure deal. "In the old days, once we found out Congress had finally passed the infrastructure bill, you might've seen Nucor's stock open up a point or two before the heat-seeking sellers came in and lit up the buyers, taking furious profits. In the end, they might've blasted this thing back down to where it was trading a week ago," Cramer said. However, Cramer said the current market is no longer dominated by large institutional money managers. "Individual investors have a lot of power," Cramer said, noting Nucor shares finished up 3.6% Monday. The stock is up 18.65% in the past month. "See, Nucor was too obvious for the pros. But regular individual investors no doubt wanted to be sure the bill would actually pass before they pulled the trigger. Then they started buying hand over fist and I don't think they're finished," Cramer said. "The professionals keep being wrong because these new buyers aren't used to the cynical trading ways of Wall Street," he added. "They hear good news; they buy good news. It's a new world, more straightforward, less pessimistic, and you ignore this optimism at your own peril." Sign up here for the new CNBC Investing Club newsletter to follow Jim Cramer's every move in the market, delivered directly in your inbox.

https://www.cnbc.com/2021/11/08/stocks-making-the-biggest-moves-midday-advanced-micro-devices-delta-air-lines-coty-and-more.html

MLM

Martin Marietta Materials

Stocks making the biggest moves midday: Advanced Micro Devices, Delta Air Lines, Coty and more

Passengers wearing protective masks wait to board a Delta Air Lines Inc. flight at Hartsfield-Jackson Atlanta International Airport in Atlanta, Georgia, U.S., on Wednesday, April 7, 2021. Check out the companies making headlines in midday trading. Infrastructure stocks — Industrial stocks got a boost after the passing of the $1 trillion infrastructure bill by the House of Representatives over the weekend. Caterpillar , Vulcan Materials added more than 4% while Martin Marietta Materials rose more than 3%. The Global X US Infrastructure Investment ETF , which tracks infrastructure stocks, gained 1.2% and hit an all-time high in the opening minutes of the session. Live Nation Entertainment — Shares of the entertainment company took a 5.3% dip after at least eight people died and dozens were injured at a Travis Scott concert over the weekend. Live Nation, the show's promoter, has reportedly been named a defendant in lawsuits related to the event. Advanced Micro Devices — Shares of the semiconductor company surged about 10% after it announced it has won Meta, formerly known as Facebook, as a chip customer. It also revealed a range of new chips during its Accelerated Data Center Premiere Keynote Monday. Tesla — Shares of the electric vehicle giant slid nearly 5% after CEO Elon Musk asked his millions of Twitter followers if he should sell 10% of his stock in the company. In a Twitter poll launched Saturday, Musk said: "Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. Do you support this?" About 58% of respondents voted for "Yes." U.S. airlines — The U.S. ended its pandemic-era international travel ban Monday. Visitors can now fly into the country with a proof of full Covid-19 vaccination and a recent negative Covid test. Delta , United and American shares rose. Occidental Petroleum — The energy stock rose 2.5% as oil climbed on Monday. The passage of the U.S. infrastructure bill has raised optimism about oil demand remaining strong in the coming years. Autolus Therapeutics — The biotech stock surged 25%, pushing its market cap to $500 million, after Blackstone said it would invest up to $250 million in Autolus. The investment will help the company build on a treatment for leukemia, the companies said in a release, and includes $150 million in product financing. Coty — Beauty company Coty soared about 15% after reporting better-than-expected quarterly results, according to estimates from StreetAccount. Coty also announced it will sell more of its stake in hair care company Wella to KKR. Canopy Growth — The cannabis company's shares jumped more than 10% as investors bought the early morning dip on two downgrades from Cowen and Canaccord Genuity. Those followed a revenue miss by Canopy, which reported fiscal second-quarter results last week. Peloton — Peloton shares fell nearly 8%, extending their decline from the prior week. Last Friday, the company's stock dropped more than 35% on weakening sales growth and a wider-than-expected loss in its fiscal first quarter. Crypto stocks — Crypto-related stocks rode the wave as cryptocurrencies themselves jumped on Monday, with bitcoin gaining more than 5%. Ether rose more than 3% and hit an all-time high earlier in the session. Shares of crypto exchange Coinbase got a 5% boost, while MicroStrategy added more than 7%. Mining companies Riot Blockchain and Marathon Digital surged about 16.5% and nearly 18%, respectively. — CNBC's Jesse Pound, Yun Li and Hannah Miao contributed reporting

https://www.cnbc.com/2021/05/30/these-stocks-could-be-winners-as-lawmakers-slog-toward-an-infrastructure-deal.html

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Martin Marietta Materials

These stocks could be winners as lawmakers slog toward an infrastructure deal

Wall Street analysts continue to see materials stocks as clear winners as the White House and Senate Republicans inch closer to a sweeping infrastructure bill. Barclays wrote last week that it's unlikely that either President Joe Biden's or the GOP's infrastructure plan would include less than about $77 billion for updating the nation's deteriorated highways. "With the Senate GOP already having proposed $77bn, and the House Dems proposing $85bn, it's unlikely that highway and street funding would be lower than the GOP proposals," the brokerage wrote on May 21. That is likely to spell sharp demand for a variety of materials to help repair roads and bridges, including tons of cement and asphalt, Barclays explained. Those sales are likely to accrue to Vulcan Materials and Martin Marietta , the Barclays team wrote. Others say certain climate-friendly utility companies that can navigate any tax increases could be poised for outperformance if the Biden administration is able to strike a deal with congressional Republicans. While Wall Street's analysts do their best to keep clients updated on strategies to play the latest infrastructure headlines, the final composition of any plan to repair roads, bridges and waterways is far from certain. In the latest of the back-and-forth, Senate Republicans on Thursday debuted their $928 billion counteroffer to Biden as the two sides seek to bridge an ideological divide over the definition of "infrastructure." That proposal includes $506 billion for roads, bridges and major infrastructure project, $98 billion for public transit and $56 billion for airports. Analysts at Wolfe Research wrote in April that the Biden infrastructure and associated tax plan is "more good than bad" and adds to momentum behind the clean energy trade. "Clean energy is clearly the big winner in the Biden plan with extension of wind/solar credits, direct cash convertibility of those credits (no more tax equity) and a standalone storage credit," Wolfe's Steve Fleishman wrote last month. "On corporate tax changes, we view utilities as less exposed than most sectors since they can pass through changes to customers and have little foreign exposure," he added. Biden's latest offer to the GOP, announced last Friday, came in at $1.7 trillion. That represents a $600 billion cut to his original plan. That revision reduced the amount earmarked for rural broadband expansion, as well as funds for road and bridge repair. Despite their differences, both sides say they are still interested in working together and passing a bill within the next few months. — CNBC's Michael Bloom contributed reporting. Vulcan Materials Company limestone quarry, Tuscumbia, Alabama. Carol M.Highsmith | Buyenlarge | Getty Images

https://www.cnbc.com/2021/05/24/stocks-making-the-biggest-moves-in-the-premarket-virgin-galactic-moderna-more.html

MLM

Martin Marietta Materials

Stocks making the biggest moves in the premarket: Virgin Galactic, Moderna, AMC Entertainment & more

Take a look at some of the biggest movers in the premarket: Virgin Galactic (SPCE) – Virgin Galactic soared 20.5% in premarket trading after it held a successful test flight over the weekend of its SpaceShipTwo craft. Virgin's first manned space flight in more than two years successfully reached space 50 minutes after takeoff from Las Cruces, New Mexico, before returning to earth. Martin Marietta Materials (MLM) – Martin Marietta struck a deal to buy the California and Arizona assets of Germany's HeidelbergCement for $2.3 billion in cash. The construction materials company will acquire 17 quarries and two cement plants as part of the deal, among other assets. Cabot Oil & Gas (COG) – Cabot and rival oil and natural gas producer Cimarex Energy (XEC) agreed to an all-stock merger of equals valued at $7.35 billion. Cimarex shareholders will receive a little over four shares of Cabot for each share they now own. Cabot shares added 1.9% in premarket trading, while Cimarex stock was up 0.4%. CureVac (CVAC) – The drugmaker is working to expand production capacity for its Covid-19 vaccine in anticipation of a June European Union approval, according to a company spokeswoman quoted in a German newspaper. Moderna (MRNA) – Moderna struck a vaccine production agreement with South Korea's Samsung Biologics, in a move it said will allow it to provide its Covid-19 vaccine to markets outside the United States beginning in the third quarter. Its shares climbed 1.6% in premarket action. AMC Entertainment (AMC) – AMC's largest shareholder, China's Dalian Wanda Group, sold most of its stake in the movie theater operator over the past week. A Securities and Exchange Commission filing shows Dalian Wanda sold 30.4 million shares for about $427 million. AMC shares rose 1.5% in the premarket. GlaxoSmithKline (GSK) – The British government is concerned about a possible takeover of GlaxoSmithKline, according to the Times of London newspaper, and has asked officials to monitor the situation. The concern was sparked by an investment in Glaxo by activist hedge fund Elliott Management. HP Inc. (HPQ) – The computer and printer maker's shares rallied 2.3% in premarket action after Citi upgraded it to "buy" from "neutral." Citi expects HP to beat consensus Street forecasts and raise its outlook when it reports later this week, as it benefits from upbeat fundamentals in the PC space. Coinbase (COIN) – Coinbase remains on watch as the operator of the largest U.S. cryptocurrency exchange continues to trade in a volatile manner, reflecting wide swings in the digital currencies. It rose 2.3% in premarket trading after a newly initiated "buy" rating at Goldman Sachs, which notes the company's leading position in a rapidly expanding market. Beyond Meat (BYND) – The maker of plant-based meat alternatives received a double upgrade at Jefferies to "outperform" from "underperform," based on an expected recovery in organic growth and rebounding foodservice channels. Beyond Meat gained 3.7% in premarket action. Dollar General (DG) – The discount retailer's shares fell 1.4% in the premarket after Bank of America Securities downgraded the stock to "underperform" from "neutral." The firm notes that Dollar General stock historically has been pressured in times of rising gasoline prices, and that customer traffic could be hurt by rebounding use of gas station convenience stores. Palantir Technologies (PLTR) – The data analytics platform company won a $32.5 million contract to provide its software to the Air Force and Space Force. Its shares rose 1% in premarket trading.

https://www.cnbc.com/2020/10/09/traders-are-confused-by-the-stimulus-back-and-forth-and-have-their-doubts-about-the-market-gains.html

MLM

Martin Marietta Materials

Traders are confused by the stimulus back-and-forth and have their doubts about the market gains

The New York Stock Exchange is pictured in the Manhattan borough of New York City, New York, October 2, 2020. Many big names like Caterpillar, Eaton and FedEx have broken to new highs. Materials stocks like Martin Marietta, Vulcan Materials and Nucor are up 10% in the last week. Even bank stocks like US Bancorp are breaking out to multimonth highs. Whatever it is, hopes for stimulus — preelection, postelection, comprehensive package, stand-alone deal, whatever and whenever — is supporting breakouts in cyclicals like industrials, materials, consumer discretionary and banks. Some are calling it "a la carte stimulus," with aid for airlines in Column A, PPP aid in Column B. For some, the cyclical rally is getting way too stretched. "The action over the last couple weeks is baking a lot of positive news into the market," said Jack Miller, head of trading at Baird. Alec Young, chief investment officer at Tactical Alpha, agrees. "We are quietly getting overbought. The market is looking a little tired, the size of the rallies is getting smaller, with little waves of selling," he said. "It's true cyclicals are rallying, but they have not shown any ability to do longer-term rallies." "I don't think this market is very compelling, and I am pulling back and waiting to see what happens," he added. Others also have doubts about this rally. They note that volume on up days has been notably light while on down days it's notably heavier. This implies there's not much buyer conviction, that much of the rally is simply sellers holding onto stocks unless prices rise. Jim Besaw, who manages $3 billion as chief investment officer at GenTrust, said this signals that many still don't believe the rally: "The market is underpositioned. That's why the markets go up on light volume days. The pain trade is still higher because most people are underweight the market." So is the market moving on a pipe dream? Besaw doesn't think so. "Stimulus will get done," he said. "If we have another big downturn like we did in March, it will get done sooner rather than later, but it will get done." As for the outperformance of cyclicals,he said: "Biden ahead brings in the likelihood that infrastructure will likely be very high on the list, and that is why materials and industrials are outperforming."

https://www.cnbc.com/2019/07/31/cramer-remix-the-two-apparel-stocks-you-need-to-consider.html

MLM

Martin Marietta Materials

Cramer Remix: The two apparel stocks you need to consider

CNBC's Jim Cramer said Wednesday that the parent company of Wrangler and Lee jeans is a stock that investors should like because it's not a growth stock. The "Mad Money" host said Kontoor Brands , which also owns Rock & Republic jeans, is a dividend stock that sports a "magnificent" 7.2% yield. "That's why VF Corp didn't want it," he said, referring to the owner of the fast-growing Vans and North Face brands that spun off the slow-growing jeans company earlier this year. "If you're an investor who wants income, this one's pretty enticing." To buy the stock, investors must believe that management can stabilize the company and continue to reward stockholders, said Cramer, who thinks the dividend will serve as a floor for the equity. Although they both face challenges, he thinks there is good reason to take a bet on Wrangler and Lee, which rank among the top American jeans companies. "It may take them a while to turn things around, but with that 7.2% yield ... they're paying you to wait," he said. For investors looking for growth, however, Cramer suggested owning a share of Levi's "given what they told us last night, basically that they're going to have a very good year in 2020." Get his full thoughts here

https://www.cnbc.com/2021/06/16/cramers-lightning-round-amd-is-a-buy-right-here-right-now-.html

MLM

Martin Marietta Materials

Cramer's lightning round: AMD is a buy 'right here, right now'

Martin Marietta Materials : "Well-run company. Doesn't need the stimulus, doesn't need the infrastructure package. Just needs for this country to stay on course. Might be a little rocky here, but I like it." Bank of America : "We're saying that over the next four or five days, there could be some weakness in the market, but I agree that Bank of America is an excellent institution and if you think that rates ultimately will have to go up — which the Fed certainly said — Bank of America is going to go higher, so I am in favor of holding and then buying a couple days from now." CRISPR Therapeutics : "Here's the problem with CRISPR, if they called it anything else other than CRISPR, people wouldn't be drawn to it, but people are so into CRISPR stuff they're like, 'Oh, let me buy this one.' I've got to tell you: I honestly would prefer to see you in Vertex, which has just got hammered, or Regeneron, where the news is very good." Advanced Micro Devices : "May of last year it was at $52, now it's $80. Lisa Su is doing an amazing job. Here's what I think happens ultimately: I think when that Xilinx deal closes, that stock just soars. I'm urging you to buy it right here, right now." AT&T : Not recommended

https://www.cnbc.com/2019/10/25/the-fed-could-be-what-makes-or-breaks-the-stock-markets-push-into-record-territory.html

MLM

Martin Marietta Materials

The Fed and Apple earnings will make or break market's return to record highs in the week ahead

Traders work after the closing bell at the New York Stock Exchange (NYSE) on August 12, 2019 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images Stock prices are bumping up against their highs, but whether they can burst through and hold gains may, for the near term, depend on what investors hear from Jerome Powell in the week ahead. In a week stacked with major events, the Fed's two-day meeting is likely to be the high point. The Federal Open Market Committee is expected to make its third quarter point interest rate cut Wednesday afternoon, followed by comments form Fed Chairman Powell. Those comments could be his most important message of the next few months, as investors watch to see whether he holds the door open to future rate cuts, or signals it's time to pause, as some economists expect. "Our view is they'll be done after this. We're not expecting a cut in December, and we're not expecting cuts next year. The economy, in my mind, looks like it's stabilizing, and there should be more evidence of that in the next couple of weeks. focusing on the labor market is the key thing," said Drew Matus, chief market strategist at MetLife Investment Management. If the labor market holds up, expectations for rate cuts should decline. "I do think the dissenters are arguing they shouldn't be cutting at all." But Matus' view is just one of many on Wall Street. Some economists expect another cut in December, while others expect one or more cuts next year, depending on how they view the economy. Goldman Sachs economists laid out a case where the Fed will clearly signal that it plans to pause after Wednesday. watch now All of this could make for volatility in stocks and bonds, depending on which market view prevails in Powell's comments. "It's going to be choppy going into the Fed," said Andrew Brenner of National Alliance. In the past week, yields were higher with the 10-year Treasury yield touching 1.8% Friday. The S&P 500 was up 1.2% for the week, ending at 3,022, just below its closing high. On Friday, it briefly traded above the July 26 high of 3,025. The Dow ended the week with a gain of 0.7%, at 26,956, and it remains about 1% below its closing high. In addition, the earnings calendar remains heavy with about 145 S&P 500 companies releasing earnings, including Alphabet Monday and big oil Exxon Mobil and Chevron Friday. On Wednesday, earnings are expected from Apple, which is setting new highs of its own. Big economic reports On top of that, November kicks off Friday in what looks to be the most important day for economic data of the new month. Besides the critical monthly employment report, there is the key ISM manufacturing report, expected to show a contraction in manufacturing activity for a third month. Both reports could be distorted by the GM strike, which is expected to result in an October employment report with fewer than 100,000 jobs. According to Refinitiv, total non farm payrolls are expected to be 90,000, while manufacturing jobs are expected to decline by 50,000. That would include the impact of GM workers, but also the employees of the many suppliers and services that support the car company's manufacturing operations. "The jobs number will be big, but the ISM could be bigger. If that turns up, like Markit [PMI] suggested, that could be a big deal," said Leuthold Group Chief Investment Strategist James Paulsen. On Thursday, Markit flash PMI manufacturing data for October was higher than expected, and still has not shown a contraction. "If it turns up, I think that's to affect a lot of people and how they feel about things. That could take on a whole new dimension of what happens to Wall Street earnings estimates," he said. Manufacturing data has dragged, due to the impact of tariffs and the trade war, and some big companies have taken a hit as a result, like Caterpillar which on Wednesday reported weaker than expected earnings and sales. Caterpillar also cut its outlook, in large part due to weakness in China. Caterpillar shares were slammed but on Friday, the stock was bouncing back by 3.5%. Stocks at 'inflection point' Quincy Krosby, Prudential Financial's chief market strategist, said the fact Caterpillar was able to come back at the end of the week was a positive for the market, which she says is now entering the late year seasonal period where stocks typically do well. At the same time, she said news for the market looks like it's about to get "less bad." "''Less bad' is not a full fledged agreement with China. Less bad is a truce. It means that Dec. 15 extension in tariffs does not happen," she said, adding the market appears to be at an inflection point with investors expecting an agreement of some type between President Donald Trump and President Xi Jinping when they meet in November. "'I'm not bullish. I'm not bearish. I'm optimistic. This market has been led by the defensive sectors. You're starting to see that move into consumer discretionary. It's telling you the market is seeing growth, albeit it not stellar growth, but when it gets 'less bad' you're going to see that it's being reflected in this inflection point in the market," said said. "We're seeing a move more and more into the cyclical and growth sectors, and by the way, we're seeing a steepening of the yield curve." The yield curve represents the difference between the yields of two different duration Treasury securities. When the curve inverts, the yield on the shorter duration security, in this case the 2-year has become higher than that of say, the 10-year. That is one part of the curve that was temporarily inverted, and if it stayed inverted it would be a recession warning. The 10-year has been moving higher, and the 1.80% level will be important if the yield can stay above it. "If it pushes through 1.80, you're going to take the inversion out, by the bond market, not the Fed," Paulsen said. Paulsen said it would be a sign of confidence in the economy if yields can push higher. The Fed taking a pause may add to that sense. "I think most people think one more cut and done," he said. "The bigger news will be what [Powell] says in that press conference. He can go pretty off script sometimes." 'Greater optimsim' in market Paulsen said stocks could be in a good period, and earnings news seems to be already priced in. "The data by and large has been okay. You have earnings that are okay, and there's no sense of imminent recession. It just seems there's greater optimism," he said. Of the approximately 200 S&P companies that reported by Friday morning, more than 78% have beaten on earnings per share, according to I/B/E/S data from Refinitiv. Earnings are expected to decline by 2% for the third quarter, based on estimates and results from companies that already reported. Paulsen said there's some sense in the market that Brexit will not end in a worst case scenario, but it is something to watch in the week ahead as British lawmakers decide whether to hold an election. Jack Ablin, chief investment officer with Cresset Wealth Advisors, said he thinks Brexit would be a bigger deal than the trade agreement for the world economy, if it goes poorly, with the U.K. leaving the European Union with no deal. "A no deal Brexit is likely to take 2 percentage points off of British growth...It would take 1% off European growth...I think that's significant," Ablin said. "I think investors are underplaying it because it's so binary. It's hard to position for a binary outcome. If we get some resolution there, to me, that has the biggest impact for the markets." Week ahead calendar

https://www.cnbc.com/2020/11/03/2020-election-how-two-traders-are-setting-up-for-the-results.html

MLM

Martin Marietta Materials

Election Day is here. How two traders are setting up for the results

Election Day is here, and U.S. stocks are surging. The major averages climbed on Tuesday, adding to Monday's gains as investors hoped for a clear outcome to what is shaking out to be a neck-and-neck presidential election. As stocks rose, bond yields jumped and the dollar weakened, Strategic Wealth Partners President and CEO Mark Tepper said the market was signaling that "this election's going to be a heck of a lot closer than the polls are telling us." "We look at three different indicators: the direction of the S&P the 90 days before the election, the direction of the U.S. dollar the 90 days before the election and then the performance of red versus blue stocks the 90 days before the election," Tepper said Tuesday on CNBC's "Trading Nation." "The first two are giving the advantage to President [Donald] Trump. The third goes to [Joe] Biden," he said. "So, I think it is a clear toss-up." The market may also have to tolerate uncertainty for longer than it did following the 2016 election, Tepper said. "We had a winner the next day back in 2016. We may not have a winner for a week," he said. "We all know the market hates uncertainty. So hopefully we can get an answer sooner than later, we can arrive at some clarity, and then, I think, actually, things should be pretty good for stocks." TradingAnalysis.com founder Todd Gordon recalled being "up trading S&P futures all night" during the 2016 election. "I won't be doing that again," Gordon said in the same "Trading Nation" interview. "But there were some interesting developments leading up to what we saw." "In 2016, technology was bid up in August, September, October, but then when Trump was elected, there was a major rotation back into financials, to the greatest extent, as well as industrials and energy," he said. That pattern may be repeating, with financials, industrials and transports leading in Tuesday's session, Gordon said. "Over the last two months, we're seeing a rotation sort of into industrials, transports and materials [and] out of communications, technology, discretionary," suggesting that the more cyclical sectors "might see some short-covering or new buying, which ... is indicating the polls may be overstating the possibility of a blue sweep," Gordon said. He had his eye on the materials space, flagging stocks such as International Paper , Ball Corp. , PPG Industries and his top pick, Martin Marietta Materials .

https://www.cnbc.com/2019/07/30/stocks-making-the-biggest-moves-midday-procter-gamble-capital-one-grubhub-more.html

MLM

Martin Marietta Materials

Stocks making the biggest moves midday: Procter & Gamble, Capital One, GrubHub & more

Traders work on the floor of the New York Stock Exchange (NYSE) on November 18, 2014 in New York City. Check out the companies making headlines midday: Procter & Gamble — Shares of Procter & Gamble jumped 3.8% and hit a record high on better-than-expected quarterly numbers and upbeat forecast for the year. P&G reported adjusted earnings per share of $1.10 on revenue of $17.09 billion, topping Refinitiv estimates of $1.05 earnings per share and revenue of $16.86 billion. The results do not include an $8 billion write-down from Procter's Gillette brand. Procter also sees adjusted earnings per share increasing between 4% and 9% in the fiscal 2020. Capital One Financial — The bank's stock fell more than 5.9% after Capital One disclosed a data breach that compromised data of more than 100 million clients in the U.S. Capital One said the breach could cost it between $100 million and $150 million. RBC Capital Markets analyst Jon Arfstrom said it could also result in "longer term reputational damage." Merck — Merck ticked up 1% after the pharmaceutical company's second-quarter results surpassed Wall Street's estimates. The company reported earnings per share of $1.30 on revenue of $11.76 billion. Analysts surveyed by Refintiv had expected earnings per share of $1.16 on revenue of $10.96 billion. Surging sales of Keytruda immunotherapy drove growth for Merck. Sales of the company's Gardasil vaccine and vaccines to children, like the MMR vaccine for measles, were also up over the quarter. Martin Marietta Materials — Martin Marietta jumped 10% after the materials company raised its earnings and revenue guidance for 2019. The company expects earnings to range between $1.2 billion and $1.315 billion and revenue to range between $4.26 billion and $4.43 billion. The company previously expected to make between $1.17 billion and $1.28 billion in earnings and between $4.23 billion and $4.38 billion in revenue. Pfizer — Shares of Pfizer tanked more than 6% after Morgan Stanley downgraded the stock to equal-weight from overweight and slashed it price target to $40 per share from $48 per share. The firm said although the mega-pharmaceutical deal between Pfizer and Mylan is a "strategically sound deal," the move "revealed earnings power that is much weaker than we realized." Stitch Fix — Shares of the online clothing company closed 2% lower after Amazon launched Personal Shopper. Amazon's new services uses human stylists and algorithms to pick out clothes for users. Wabtec — Shares of the passenger rail transport company rallied 9.5% on better-than-expected quarterly results. The company reported adjusted earnings per share of $1.06 on revenue of $2.24 billion. Analysts polled by Refinitiv expected a profit of 98 cents a share on sales of $2.23 billion. Under Armour — Under Armour fell more than 12% on Tuesday after the apparel company said it expects North American sales to be down for the year after previously guiding them as "relatively flat." Gartner — Shares of the tech company plunged 19% after Gartner cut its 2019 earnings forecast. Gartner expects earnings to range between $3.39 per share and $3.64. The company had previously forecast earnings to range between $3.82 per share and $4.19. GrubHub — Shares of GrubHub plunged more than 12% after the food delivery company whiffed on consensus earnings expectations for its fiscal second quarter as rising costs outpaced sales growth. GrubHub earned 27 cents per share, excluding certain items, while analysts expected 30 cents per share, according to Refinitiv. —CNBC's Mallika Mitra, Jesse Pound and Maggie Fitzgerald contributed to this report.

https://www.cnbc.com/id/43256527

MAS

Masco

Cramer's 5 Plays on Rebuilding After Storms

Masco : The Taylor, Mich.-based company makes cabinets, among other home improvement and building products. To Cramer, the "idea of the cabinet rebuild" is very basic. He said the destruction in the U.S. is so widespread, the re-construction will likely move the needle for Masco. He's a buyer of MAS right now. Owens Corning : Although Owens Corning produces many building materials, Cramer said it's best known for roofing. The problem, he continued, is that the company hasn't been that bullish. Its stock, however, has been moving up fast. Cramer thinks the stock is doing too well versus the company, so he would avoid buying shares. Stanley Black & Decker : This tool maker is a very simple story and "natural beneficiary" of the destruction, Cramer said. Anyone wanting to rebuild will likely buy Stanley Black & Decker products. Home Depot : Cramer noted this home improvement retailer is trading in lockstep with the rest of retail coming down. But it's not getting credit for what it truly does — help people rebuild. The stock has been knocked down on poor home starts data, but Cramer pointed out that people who have already paid their mortgage are still going to spend money at Home Depot, so they can continue to fix up their home. Lowe's : Speaking of home improvement retailers, Cramer said Lowe's is not doing as well as Home Depot. The Mooresville, N.C.-based company is getting better, though. Weyerhaeuser : This is a well-run real estate investment trust, Cramer said. The company grows and harvests trees for lumber and builds homes. Although a hated stock, Cramer said the company could eventually benefit from the rebuild in Japan and U.S. He thinks it's too early to like this stock now, though. Video: A Tornado Strikes Springfield, Massachusetts When this story was published, Cramer's charitable trust owned Home Depot, Lowe's and Stanley Black & Decker. Call Cramer: 1-800-743-CNBC Questions for Cramer? madmoney@cnbc.com Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

https://www.cnbc.com/id/48363243

MAS

Masco

Cramer's 3 Earnings to Watch Monday

Anadarko Petroleum , Cirrus Logic and Masco are all scheduled to announce earnings after Monday's closing bell. In Cramer's opinion, Anadarko is the "great independent oil growth story" that's been stalled as of late. If the company has good news, Cramer thinks buying shares of Apache might just be the best way to play it, as Apache reports Thursday. Either way, Cramer not only wants to hear about the Anadarko's prospects, but whether executives think oil prices could go up and natural gas has bottomed. With Cirrus Logic rumored to be a supplier to Apple , Cramer looks forward to its results. After all, its forecast could provide clues as to when Apple is going to release its iPhone 5, Cramer said. Meanwhile, building materials maker Masco will also report after Monday's close. On the belief that the U.S. housing market is turning around, Cramer thinks Masco's stock could soon push higher. "Housing’s the brightest spot in the investment universe and Masco’s a cheap stock if the news turns out to be as positive as I expect it to be," Cramer said. When this story was published, Cramer's charitable trust owned Apple. @MadMoneyOnCNBC on Twitter "Mad Money" on Facebook Call Cramer: 1-800-743-CNBC Questions for Cramer? madmoney@cnbc.com Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com

https://www.cnbc.com/2019/01/24/heres-why-homeowners-are-thinking-twice-about-remodeling.html

MAS

Masco

Homeowners are thinking twice about remodeling because rates are rising, values aren't gaining as much and fewer homes are selling

"Remodeling activity tends to go hand in hand with home sales, so when a homeowner is preparing their home for sale they're likely to do some work just getting their home ready for the market," said Abbe Will, associate project director at Harvard's Joint Center for Housing. Demand is slowing because home values aren't gaining as much, mortgage interest rates are rising and fewer homes are selling. Both buying and selling are top drivers of home renovations. After several years of booming business, home remodeling growth is expected to shrink this year. "Then really in the first two or three years after purchase," Will added, "that new homeowner typically spends quite a bit more on home improvements, making that home kind of fit their needs, customizing it, maybe doing some work before they even move in." New owners spend about 30 percent more on fixing up their new purchases than longtime residents. That's just part of why growth in home renovations is expected to fall to the lowest level in three years, according to a new report from HJCH. Contractor Justin Sullivan is plenty busy this winter, completely gutting a historic Washington, D.C., home and adding on to it. But he is less sure about how his business will be six months from now. "Generally architects are six months ahead of us in terms of seeing slowdowns, and we're hearing a little bit that some of the architects, some of the design firms are slowing a little bit, which will probably hit us in six to 12 months." While the remodeling business is expected to slow, consumer spending on projects is expected to rise slightly because construction costs are still very high, making renovations more expensive. "We're looking to the folks in our industry to bring their prices down as much as possible. That's a little bit difficult with tariffs being what they are, with the cost of materials being what they are." The slowdown in overall projects will hit home improvement retailers like Home Depot, Lowes, Masco and Sherwin-Williams. Sherwin-Williams just reported a disappointing fourth quarter, its CEO saying the weakness was "across the board." A big part of that is weaker consumer sentiment in housing overall, driven by rising mortgage rates, which make a renovation project more costly. "If they're going to do a cash out refi, or they're looking at a home equity loan or line of credit, I think the sentiment is that homeowners are taking a pause and wondering if that's really the right move right now, and then thinking, we don't have to do this major discretionary project now. We can put that off and see what's happening with the market," said Will. There is also a growing belief that home prices have peaked. "I think any time that they see the value of their homes either moderating or dropping they're going to think twice about how much they want to invest in their home," added Sullivan. The majority of homeowners use home equity, either through a cash-out refinance or a second line of credit, taking money out of their homes to fund what they put into their homes. While home values are softening, they are unlikely to fall dramatically in most parts of the country. Still, homeowners are very emotional about their nests, given that it is likely their single largest investment. That means anything and everything will weigh on their decisions — stock market volatility, the government shutdown and the growing fear that the economy will weaken. "I think for now the thought is that this is short-term, but if it continues, if the shutdown continues, if the economy continues downturn, we'll see that more broadly in our industry," said Sullivan.

https://www.cnbc.com/id/100680170

MAS

Masco

Cramer's Game Plan: Mid-Week Sell-Off Ahead?

TUESDAY APRIL 30 The health of China's economy comes into play on Tuesday. "Truck engine maker Cummins reports and despite its location in Columbus, Indiana, it remains a top exporter to China. I suspect some softness here, but not enough to run from," Cramer said. Also drug stocks take center stage as Pfizer reports earnings. "I think we'll hear many good things," Cramer said. "It remains a terrific slower growth vehicle that's negotiating the patent cliff of Lipitor, the giant anti-cholesterol agent, extremely well." In addition, Pfizer's new spin-off reports, a company called Zoetis, formerly Pfizer's animal health division. "I think they deliver a good quarter, animal health is a red-hot business," Cramer said. Shopping centers REITs will also demand attention as Tanger Factory Outlet reports after the close. "I believe this will be a case of slow and steady winning the race," said Cramer. Tanger has consistently delivered both earnings increases and dividend boosts." ------------------------------------------------------------ Read More from Mad Money with Jim Cramer: Cramer: 14 Stocks for Twentysomethings Street Analysis Dangers Cramer's Great Restaurant Growth Story ------------------------------------------------------------ WEDNESDAY MAY 1 In the new month, drug stocks will immediately steal the spotlight as Allergan reports. Cramer said the pharmaceutical company has tremendous growth because of its tremendous business model. "However, it often sells off right when it reports," he added."So I would wait until we hear more before buying." Also, Cramer intended to take a hard look at consumer staples stock Clorox, which reports on Tuesday. It's rallied 18% ytd, as investor chase yield. "I think it will be hard for Clorox to follow up on that stock performance, so if you don't own Clorox I would wait until after it reports to initiate a new position," Cramer said. In addition Cramer will be reviewing his spec plays. "On Wednesday, we'll hear from Radian, the mortgage insurance firm. This remains one of my favorite spec stocks," Cramer said. "This insurer has been a terrific play on the return of housing and I think we're in the early innings given that Radian's primary competitor, the FHA is rapidly pulling out of the insurance business." But perhaps nothing is more important on Wednesday than the statement released by the Federal Reserve at the conclusion of the FOMC meeting. "I find it hard to believe the Fed can take its foot away from the bond buying gas pedal," Cramer said. However, Cramer also said not to be surprised by a sell-off. "I expect to hear from a host of people who will say, 'how does the Fed end this nonsense,' and they will either be short this stock market or have very little invested and need it go lower." In addition the market hears from the ECB, as well. "There are expectations in the market that the Europeans cut rates. They need to, badly. If they don't then I suspect our market will surely sell-off Thursday morning."

https://www.cnbc.com/id/41599126

MAS

Masco

Pops & Drops: Gap, US Steel...

United States Steel (X) popped 3%. Goldman Sachs upgraded U.S. Steel to Buy from Neutral and increased its price target to $75 from $61, saying the company is in good position to capitalize on rising steel prices. - I like this stock here, says Guy Adami. Marriott (MAR) popped 2%. The company said it plans to split into two publicly traded companies by spinning off its timeshare operations into a separate company; also Marriott reported a higher quarterly profit as a strengthening economy enabled more companies to send employees back out on the road to do business. DROPS (stocks that slid lower) Masco (MAS) dropped 9%. The company posted a wider-than-expected quarterly loss, partly hurt by a drop in sales, and forecast a challenging business environment, particularly in the first half of this year. - I'd stay away, says Jon Najarian. Chipotle Mexican Grill (CMG) dropped 3%. Cowen & Co. downgraded the stock to ‘Neutral’ from ‘Outperform’ citing valuation. - I think shorts are dying to jump on this, says Stephen Weiss. ______________________________________________________ Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our Web site send your e-mail to fastmoney@cnbc.com. Trader disclosure: On Feb 15, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AAPL); Seymour owns (BAC); Seymour owns (F); Seymour owns (FXI); Seymour owns (GE); Seymour owns (GM); Seymour owns (INTC); Seymour owns (POT); Adami Owns (AGU) ; Adami Owns (C); Adami Owns (GS);; Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Adami's wife works for (MRK); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (SPY); Finerman's Firm Is Short (MDY); Finerman's Firm Is Long S&P Puts; Finerman's Firm Is Long Russell 2000 Puts; Finerman's Firm And Finerman Own (AAPL); Finerman's Firm Owns (BAC) Leap, Finerman Owns (BAC); Finerman's Firm Owns (BBY); Finerman's Firm And Finerman Own (BP); Finerman Owns (C); Finerman Owns (GOOG); Finerman's Firm And Finerman Own (HPQ); Finerman's Firm Owns (IBM); Finerman's Firm Owns (JPM), (JPM) Leap; Finerman Owns (JPM); Finerman's Firm Owns (M); Finerman's Firm Owns (MCD); Finerman's Firm And Finerman Own (MSFT); Finerman's Firm Owns (WMT); Jon Najarian owns (NWL) calls; Jon Najarian owns (DELL) calls; Jon Najarian owns (CHS) calls; Jon Najarian owns (AMD), is short (AMD) calls; Jon Najarian owns (BP), is short (BP) calls; Jon Najarian owns (CME), is short (CME) calls; Jon Najarian owns (CBOE), is short (CBOE) calls; Jon Najarian owns (GS), is short (GS) calls; Jon Najarian owns (JNPR), is short (JNPR) calls; Jon Najarian owns (NYX), is short (NYX) calls; Jon Najarian owns (RIMM), is short (RIMM) calls; Jon Najarian owns (WMT), is short (WMT) calls; Jon Najarian owns (X), is short (X) calls; Weiss owns (QCOM); Weiss owns (VZ); Weiss owns (SMCI); Weiss owns (CSCO); Weiss owns (MSFT); Weiss owns (AGU); Weiss owns (IPI); Weiss owns (JPM); Weiss owns (FAS); Weiss owns (UUP); Weiss owns (MEE); Weiss owns (BTU); Weiss owns (CNX); Weiss owns (DVN); Weiss owns (COP); Weiss owns (HBAN) Comcast is the parent company of CNBC Comcast is the parent company of NBCUniversal GE owns 49% of NBCUniversal GE owns 49% of CNBC For Sal Arnuk Arnuk has no disclosures For Aldo Mazzaferro Mazzaferro has no disclosures For Scott Nations Nations is long (SPY)

https://www.cnbc.com/id/41532840

MAS

Masco

Cramer: 20 Must-Watch Earnings Next Week

Limelight Networks will report quarterly earnings results after the closing bell. The Tempe, Ariz.-based company provides services that accelerates the delivery of content on the Internet. Cramer is interested how its results will compare to that of rival Akamai Technologies , which recently delivered disappointing guidance. For a read on housing, Cramer will look for Masco's earnings results on Monday. The Taylor, Mich.-based lumber company manufacturers, distributes and installs home and building products. Cramer also plans to monitor metallurgical coal miner Walter Energy's earnings on Monday. The coal bull market has slowed, as of late. He's curious whether Walter can reignite the market by taking share of Australian mines that are closed due to weather and ship its product to China. TUESDAY Before the opening bell, Cramer will watch for CenturyLink's earnings results. Along with Frontier and Windstream , it's one of his fave high-yielding, rural telco plays. As CenturyLink closes in on its acquisition of Qwest , the stock could run higher. Cramer will also take time to look for Fossil's earnings Tuesday morning. This stock has had a tremendous run, so Cramer recommends taking profits on half of your position. One of Cramer's fave health care techn names, Allscripts Healthcare Solutions , will report after Tuesday's close. Cramer projects a good quarter, but told investors to be careful. The stock is at a 52-week high and tends to sell-off on earnings. Tech giant Dell will also give earnings after the close. Cramer doesn't expect its earnings to be any worse than what Cisco Systems reported. Real estate investment trusts EastGroup Properties and Federal Reality are set to report Tuesday afternoon. Cramer is interested to learn how retail and office rentals are going and whether the REIT bull market will continue. WEDNESDAY Deere is scheduled to give earnings before the opening bell. While Cramer thinks its a solid company, he said it tends to have a difficult conference call. The number of sell-offs following earnings outweight the number of rallies, he explained. He recommends waiting until after the call to buy this stock. Devon Energy also reports Wednesday morning. The stock recently had a huge run higher, even without an accompanying run in natural gas prices. Cramer thinks it could sell off when it reports earnings. Finally, Owens Corning will release its results before the opening bell. Like Masco, Cramer thinks it's a good read on housing. With shares up going into eanrings, Cramer recommends taking half of your position off the table. After the closing bell, Agnico-Eagle will share its quarterly results. It's stock has been falling along with the price of gold. This stock is down huge from its high, but gold has only mildly corrected, though. Cramer thinks its worth a look. Data storage play NetApp will also report after the close. During its last earnings call, the tech company didn't sell the story adequately and the stock got hit. If that happens again, Cramer recommends buying NTAP shares. Speaking of tech, NVIDIA is also to report earnings Wednesday afternoon. Cramer recommends taking profits in this name. THURSDAY Barrick Gold is set to deliver earnings results before the market opens on Thursday. Cramer thinks it has a fantastic story and worth a look at current levels. Meanwhile, Timberland will provide an update on the show bull market when it reports Thursday morning. Speaking of retail, Norstrom will release earnings after Thursday's closing bell. FRIDAY Campbell Soup is scheduled to share its earnings results before Friday's open. Cramer hopes it will discuss which brands the Chinese are interested in, especially since the stock has been struggling lately. Eldorado Gold , a fast-growing gold company, will report Friday morning, too. Ultra Petroleum will also report on Friday. Being as it has properties close to assets the Chinese purchased from Chesapeake, Cramer wants to know if Ultra is interested in a similar joint venture. When this story was published, Cramer's charitable trust owned Deere. Call Cramer: 1-800-743-CNBC Questions for Cramer? madmoney@cnbc.com Questions, comments, suggestions for the Mad Money Web site? madcap@cnbc.com

https://www.cnbc.com/id/33910937

MAS

Masco

More Americans Lighting Up? Buy This Stock

The number of US smokers aged 18 and over climbed to 20.6% in 2008 from 19.8% in 2007, said The Wall Street Journal, citing a recent Centers for Disease Control and Prevention survey. Cramer recommended Altria a pure play on the trend. Altria , which also pays a 7% dividend yield, trades at just 10 times earnings, largely because people assume that smokers’ ranks are shrinking. With that theory proved wrong, investors have the chance to get the Marlboro Man’s parent on the cheap. “I don’t think the multiple should be as compressed,” Cramer said, “given the fact that the market could be growing again for tobacco.” Investors who want get gauge the real estate recovery should watch Whirlpool and Masco , Cramer said, calling them “the real signs for housing.” These companies’ products both furnish new homes and help to upgrade existing houses. Thanks to the federal first-time homebuyer tax credit and other initiatives, he said, “There is just a definitive move to make your house better.” Cabinet maker Fortune Brands usually trades with both Whirlpool and Masco, which were up Friday. But FO was in negative territory with less than hour to go before the closing bell. “It should not be lagging,” Cramer said. “It should be going higher today.” Cramer's charitable trust owns Altria. Call Cramer: 1-800-743-CNBC Questions for Cramer? madmoney@cnbc.com Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

https://www.cnbc.com/id/42339058

MAS

Masco

Bulls Betting on This Home-Improvement Stock

Masco dropped on weak results in February, but the bulls still want to believe in the home-improvement stock. More than 7,000 April 14 contracts were bought for $0.35 and $0.40, according to OptionMonster's real-time tracking systems. That was still below open interest and therefore could have been opening or closing previous positions, but overall volume at all strikes was 13 times greater than average with calls accounting for more than 90 percent of the total. The May 15s also saw sizable volume of more than 2,600 calls, with a large block pricing for $0.40. And the May 14s changed hands more than 1,300 times, with large trades pricing for $0.75 and $0.80. The stock attempted to rally late yesterday (Tuesday) afternoon, but ended the session down 0.72 percent to $13.81. (See ticker for latest quote.) Masco makes a series of products such as Behr paint and Bristan faucets. The company saw bullish option positioning early last month, but then fell after a bad earnings report on Feb. 15. The shares traded down to their 100-day moving average around $12.50 later in the month but have been working higher since and are now back above their 50-day moving average. Disclosures: Najarian has no positions in MAS. ___________________________ Options Trading School: ___________________________ ___________________________ Pete Najarian is a professional investor, CNBC contributor, regular co-host of CNBC's "Fast Money" and co-founder of OptionMonster.com. ___________________________ Disclaimer

https://www.cnbc.com/2022/04/06/investing-club-cramer-watching-wednesday-fed-unsubtle-shift-in-attack-.html

MAS

Masco

What Cramer is watching Wednesday — bracing for more declines after Fed's unsubtle shift in attack on rising prices

What I am looking at April 6, 2022 Lael Brainard's unsubtle switch to deal with the 5% wage gain versus 9% inflation versus no slowdown. The Federal Reserve Governor gave a hawkish speech Tuesday , leading us at the Club to believe we must get more conservative and protect ourselves from what could be more declines. Daily inflation running at a 40-year high is as harmful as not having a job. Market expectations are for rate increases at each of the remaining six meetings this year, possibly totaling 2.5 percentage points overall. Deutsche Bank trying to out negative everyone, says U.S. will be in recession in 2023. The first major bank to forecast negative growth ahead, Deutsche cited inflation trending around 8% that will push the Federal Reserve into an aggressive tightening cycle. Fed Chairman Jerome Powell wants to be former Fed head Paul Volcker, who is remembered for aggressively attacking inflation in the early 1980s. Oh boy … staking out most negative position … October 2018 scenario when Cleveland Fed Reserve President Loretta Mester said continued tightening was fine and downplayed stock losses. Most effective paradigm? Nasdaq down, small-cap hideous. We have runaway inflation and bonds will no longer be inverted (this happens when short-term debt have higher yields than long-term debt with same risk profile). The sale of bonds will be done with alacrity as an anti-inflation stance is now paramount among the doves who are now velociraptors. Brainard changes everything? Stock futures dipped for a second day this morning and rates soared to new heights over fears Fed policy will slow economy. Minutes from the Fed's most-recent meeting in March are slated for release Wednesday afternoon. Investors will look for more clues to Fed strategy. Surging interest rates push mortgage demand down more than 40% from a year ago. Russian sanctions are doing nothing. Russia's Chechnya plan — we let that happen. Coal and oil sanctions but Russia has giant reserves. Do we not see that? Rent prices still going higher ... Incredibly ill-advised offer by JetBlue (JBLU) for Spirit Airlines (SAVE), topping previous offer brought by Frontier Group (ULCC), owner of Frontier Airlines. JetBlue is offering $3.6 billion in cash, compared to deal Spirit agreed to with Frontier for $2.9 billion in cash and stock. Regulators will most likely block everything. They are still smarting from last round of buyouts … They wish they hadn't allowed: Southwest Airlines (LUV) buying ATA Airlines 2008; United (UAL) merging with Continental in 2010; Frontier and Midwest airlines combining in 2009; Alaska Air Group (ALAK) acquiring Virgin in 2016; American Airlines (AAL) and US Air merging in 2013. Raymond James calls JetBlue offer an "indecent proposal" and downgrades shares to hold from buy. Manufacturer Masco (MAS) price target lowered to $56 from $65 at Loop Capital. Main issue is paint can't keep up with raw costs ... Credit Suisse starts Masco with an underperform last night. Company needs to keep raising prices. Uber Technologies (UBER) looks to create travel "superapp" by adding planes, trains and rental cars. The Covid-19 lockdowns in China are really bad for supply chain. China services sector tumbled in March at fastest pace since the onset of the pandemic. Lior Ron from Uber Freight fears that companies are finally catching up in the supply chain JUST when rates go up and inventories filled. Hard landing ... Sherwin-Williams (SHW) price target lowered to $300 from $345 at Loop Capital. CarMax (KMX) downgraded to neutral from buy at Bank of America. DocuSign (DOCU) price target raised to $105 from $82 at Baird — pandemic play. Capital One (COF) price target lowered to $165 from $180 at Wells Fargo. Citi says Analog Devices (ADI) revenue target is too aggressive. Monster Beverage (MNST) price cut to $90 from $92 at BMO Capital. Citi (C) price target lowered to $67 from $73, cites Russia could hit results. Large bank preview: Consumer will be strong but will be dominated by hard landing versus soft landing. Morgan Stanley assumes with equal weight at Johnson & Johnson (JNJ), Pfizer (PFE), Merck (MRK). Assumes Bristol-Meyers Squibb (BMY) with underweight rating. Stifel likes Occidental Petroleum (OXY), initiates with a buy ... says "attractively valued" even after 99% gain in shares this year ... says "best in class" 2022. Rivian (RIVN) two positive notes from Baird and RBC ... ramping up production nicely. Ford (F) owns 11.4%, can sell in May ... Rivian management reiterated it is well positioned to deliver on 25,000 annual production guidance. The CEOs of oil companies, including Chevron (CVX), Devon (DVN) and Exxon (XOM), are set to testify Wednesday before a House panel about what they're doing to control energy costs. (Jim Cramer's Charitable Trust is long CVX, DVN, F. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. US Federal Reserve Governor Lael Brainard attends a "Fed Listens" event at the Federal Reserve headquarters in Washington, DC, on October 4, 2019. Eric Baradat | AFP | Getty Images What I am looking at April 6, 2022

https://www.cnbc.com/2018/08/10/cramers-game-plan-take-time-to-study-stocks-as-earnings-season-fades.html

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Masco

Cramer's game plan: Take time to study your stocks as earnings season fades

watch now Mid-to-late August tends to be the time of year when earnings season "goes out with a whimper, not a bang," CNBC's said on Friday. But that doesn't mean there's no opportunity in the stock market, the "Mad Money" host said. Cramer argued that the lack of earnings reports will actually give investors time to do their homework and make informed investing decisions amid the market-moving trade war and other unforeseen corporate news. "There's plenty of time to study and critique and calibrate and make considered judgments because, at last, the number of earnings reports that happen each day ... slow[s] to a trickle," he told investors. With that in mind, Cramer turned to his weekly game plan: Monday: Sysco Corporation Cramer has never regarded food services giant Sysco as an investment, but he often uses it as a barometer for how the restaurant business is faring. "That is, until Nelson Peltz, the famous insurgent activist ... investor, took a 7 percent stake in the company three years ago and got himself a board seat. Now, this stock's been an incredible long-term performer since then," Cramer said ahead of the company's Monday earnings report. Shares of Sysco have run more than 70 percent since Peltz took his stake in August 2015. "I like Sysco very much," Cramer said. Tuesday: Home Depot, Tapestry, Canopy Growth Corp. Home Depot : People are more nervous about Home Depot's upcoming earnings report than any other time Cramer can recall. "Why? First, we know the spring was late. The big spring planting season was a bust for many garden stores because the weather was so darned terrible," he explained. "Now, that's not enough to derail this great company on its own, but we are also getting some weaker numbers from many of its suppliers." The "Mad Money" host cited the underperformance in shares of building supply manufacturers Masco , Fortune Brands Home & Security and Stanley Black & Decker , all of which are Home Depot suppliers. Cramer warned that their weakness could have hit Home Depot this quarter, and while weather provides a legitimate excuse, Home Depot's stock is still risky having outperformed them this year. "At this point, stay on the sidelines. Pounce on it if Home Depot gets hit," he said. "This is one of the greatest retailers of all time. Whenever it pulls back, I think you're getting a gift." Tapestry : The artist formerly known as Coach will also deliver its quarterly earnings report on Tuesday, and Cramer expects "very good" results. "We know from the department stores that handbags are hot, hot, hot," he said. "I recommend buying some before the quarter and some after." Canopy Growth : This cannabis play reports earnings after Tuesday's closing bell, and Cramer figured that Canada's recent legalization of recreational marijuana could cause an end-of-Prohibition-like explosion in sales for pot producers when it is put into effect. The "Mad Money" host also liked Canopy's position given the backing of Constellation Brands , a massive U.S. alcohol distributor that owns a 10 percent stake in Canopy with an option to buy more. "That said, the stock's been a dog of late, with hot money flowing out of it betting that the pot trade has gone up in smoke. I think that's premature," Cramer said. "Canopy's a full-service player with a tremendous first-mover advantage. I wouldn't be surprised if the stock is charging up to another run at the highs later this year." Wednesday: Macy's, Cisco Systems Macy's : Cramer wanted more clarity on why Macy's stock has stalled of late. He wondered if it ran too much since its last report or if consumers' spending habits have changed. "All I know is this: every major supplier into Macy's has told us that they're having a bang-up quarter," he said. "PVH , [Michael] Kors and VF Corp [are] saying good things. I'd be a buyer of Macy's if it dips ahead of the report." Cisco : For Cramer, Cisco's earnings report will be the most important one of the week as Wall Street keeps a close eye on CEO Chuck Robbins' push to make Cisco more of a security-focused software subscription enterprise. Praising Robbins and his team for "moving mountains" to build Cisco's recurring revenue stream, Cramer acknowledged that other companies that have made the transition to selling software have had "some growing pains." "I expect Cisco will deliver a good quarter," he said. "Maybe it won't be the monster grower that some want, but I believe the re-positioning of Cisco into high-growth mode will take a little time. Be patient. You have to stay in it for the inflection point, which could be right around the corner. Call me a buyer." Thursday: Walmart, Nordstrom, Applied Materials, Nvidia Walmart : Walmart's earnings report on Thursday will prove if technician Tim Collins was right about a potential rally in the stock in Cramer's latest "Off the Charts" segment. "Collins suggested that Walmart might be on the verge of a breakout, which I have to believe would come from this quarter. I'll say this: it can't be as weak as the last one," Cramer said. "Its stores [and] the fundament of retailing ... look fantastic, and the prices remain divine. Walmart's stock has lagged the rest of the retail party recently. You know what? I think it's cheap. I think it's compelling." Nordstrom : "To say last quarter was a bomb would be putting it way too lightly," Cramer said of the apparel retailer's previous earnings report. "It was a nuclear warhead that landed right in your wallet." Ahead of Nordstrom's next report, Cramer, whose charitable trust owns the stock, told investors to avoid it. "The company has inspired no one," he lamented. "The Nordstrom guys always seem to find a way to screw it up. I do admire their consistency in being inconsistent." Applied Materials : This chipmaker also failed to impress investors with its last earnings report, but Cramer doesn't think things have gotten worse in its most recent quarter. "I think the company has gotten their inventories in line," he said. "In fact, I'm betting that, like with its competitor Lam Research , this stock is trying to bottom. We await the conference call for validation." Nvidia : Cramer has heard whispers that Nvidia's upcoming earnings report could be a mixed bag, in part due to softer cryptocurrency demand and in part due to the strength of competitors like AMD , but he's not too worried. "I actually like that the expectations have been reduced here," he admitted. "I just wish the stock would follow suit and kind of cool off going into the quarter." Friday: Deere & Co. Swept up in the debate around world trade, agriculture and construction equipment manufacturer Deere could deliver a weaker than expected earnings report on Friday, Cramer warned. "The farmers of this country are starting to squawk that they aren't doing well because of the retaliatory tariffs from our trading partners, and that means Deere's quarter may not be up to snuff," he said. "That said, though, I think that Martin Richenhagen, CEO of the very similar AGCO , told a good story when he last came on the show. It's a real tough call. Maybe you just wait to see what happens." Conclusions With earnings season coming to a close, Cramer recommended investors use their time wisely. "We've almost made it through earnings season. I say good riddance — too much stress — but don't forget to look for buying opportunities among the stocks I just highlighted, because many of them could be potential winners next week," he said. WATCH: Cramer's game plan for mid-August earnings watch now

https://www.cnbc.com/select/citi-aadvantage-executive-card-review/

MA

Mastercard

Citi / AAdvantage Executive World Elite Mastercard review: New benefits and a higher annual fee

Citi® / AAdvantage® Executive World Elite Mastercard® Learn More Information about the Citi® / AAdvantage® Executive World Elite Mastercard® has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication. Rewards 10X AAdvantage® miles per dollar spent on eligible rental cars through aa.com/cars, 10X AAdvantage® miles per dollar spent on eligible hotels through aa.com/hotels, 4X AAdvantage® miles per dollar spent on eligible American Airlines purchases and 1X AAdvantage® miles per dollar spent on all other purchases. Welcome bonus Earn 70,000 American Airlines AAdvantage® bonus miles after spending $7,000 within the first 3 months of account opening. Annual fee $595 Intro APR None Regular APR 21.24% - 29.99% variable Balance transfer fee Either $5 or 5% of the amount of each transfer Foreign transaction fees None Credit needed Good/Excellent Terms apply. Pros Cheaper than purchasing American Airlines lounge access Travel and rental car coverage Elite status boost Cons High annual fee Fee to add authorized users Some statement credits are complicated to use Learn More View More Citi / AAdvantage® Executive World Elite Mastercard® review Welcome bonus The Citi/AAdvantage Executive is offering a welcome bonus of 70,000 American Airlines AAdvantage® bonus miles after spending $7,000 within the first 3 months of account opening. Even at a modest 1 cent per mile value, this bonus is worth at least $700, though the spending requirement is high. Note that Citi restricts approvals for co-branded American Airlines credit cards. You won't be eligible for another bonus if you've received a sign-up bonus from this card in the last 48 months. However, you are eligible for this bonus even if you recently applied for a different American Airlines card. Benefits and perks Photo courtesy of American Airlines The Citi/AAdvantage Executive card's main benefits are geared towards those seeking elite-style benefits when flying American, namely access to Admirals Club airport lounges. An Admirals Club membership normally costs $850 if you don't have elite status, which is significantly higher than the card's annual fee. Cardholders enjoy the following perks when flying American: Admirals Club membership: Access to nearly 100 Admirals Club airport lounges (as well as partner lounges for the primary cardholder) for you and your immediate family or two guests of your choice (a value of up to $850) Access to nearly 100 Admirals Club airport lounges (as well as partner lounges for the primary cardholder) for you and your immediate family or two guests of your choice (a value of up to $850) First checked bag free: You and up to eight companions on the same reservation will receive your first checked bag free on domestic American Airlines itineraries (normally $30). You and up to eight companions on the same reservation will receive your first checked bag free on domestic American Airlines itineraries (normally $30). Priority privileges: Enjoy priority check-in, screening and boarding (Group 4) when traveling with American Airlines Enjoy priority check-in, screening and boarding (Group 4) when traveling with American Airlines Savings on in-flight purchases: Receive a 25% discount on in-flight food and beverage purchases when you use your credit card to pay. Those chasing American Airlines elite status will appreciate this card's Loyalty Point boost. Just for having the card, you can receive up to 20,000 elite-qualifying Loyalty Points per year. You'll get 10,000 Loyalty Points after you earn 50,000 Loyalty Points in a status qualification year and another 10,000 Loyalty Points after earning 90,000 Loyalty Points in the same period. The card recently introduced various statement credits, which can help further offset the card's annual fee. However, some of these credits are complicated and may not be useful for you. Cardholders can get: Up to $120 in credit for Avis and Budget rental car purchases per calendar year Up to $120 in Grubhub credit ($10 per billing cycle) per 12 months Up to $120 in Lyft credits, earn up to $10 in Lyft credit each month after you complete three Lyft rides Up to $100 in Global Entry or TSA PreCheck application fee credits every four years Cardholders are also protected with trip cancellation/interruption insurance, trip delay protection, lost baggage insurance and rental car insurance. How to earn and use American Airlines miles Earning The Citi/AAdvantage Executive card earns American Airlines AAdvantage miles at the following rates: 10X miles per dollar on eligible rental cars through aa.com/cars 10X miles on eligible hotels through aa.com/hotels 4X miles on eligible American Airlines purchases 1X mile on all other purchases If you're a big spender, you have an opportunity to slightly boost your earning on American Airlines. Cardmembers who spend $150,000 on their Citi AAdvantage Executive card earn 5X miles on American Airlines purchases for the remainder of the year. Every dollar you spend on any American Airlines credit card also earns the card member one Loyalty Point, which is how you qualify for American Airlines elite status. Bonus miles and the additional miles you earn from bonus spending categories don't earn Loyalty Points, which means you would only earn one Loyalty Point per dollar spent with American Airlines even though this card earns 4X miles on those purchases. Redeeming You can redeem American Airlines miles for flights, rental cars, hotels, travel packages and upgrades. However, using miles for flights with American Airlines and its partner airlines is typically the best way to maximize the value of your American Airlines miles. There is no longer a fixed award chart for American Airlines award flights. Instead, American Airlines has shifted to dynamic award prices, with a chart that simply offers "starting" prices. One-way tickets within the contiguous 48 U.S. states and Canada should start at 7,500 miles in economy, though we've seen some flights available for even less than that. To see how many miles you'll need for a specific flight, you'll have to search on the American Airlines site. You can also use American Airlines miles to book award flights with 20+ partner airlines, and there is an award chart for those flights. You could book a one-way partner award flight from the U.S. to Europe in economy for only 22,500 miles during off-peak dates or fly in business class for 57,500 one way. Or you could fly to Japan in business class for 60,000 miles one way. American's Oneworld and non-alliance partner airlines include: Air Tahiti Nui Alaska Airlines British Airways Cape Air Cathay Pacific China Southern Airlines Etihad Airways Fiji Airways Finnair GOL Airlines Hawaiian Airlines Iberia IndiGo Japan Airlines JetSMART Malaysia Airlines Qantas Qatar Airways Royal Air Maroc Royal Jordanian Airlines Silver Airways SriLankan Airlines Rates and fees The Citi/AAdvantage Executive card has a $595 annual fee and a $175 annual fee to add up to three authorized users. Each additional authorized user is an additional $175 per year. This card has no foreign transaction fees and a variable purchase APR of 21.24% to 29.99%. Card comparison Citi AAdvantage Executive vs. Citi® / AAdvantage® Platinum Select® World Elite Mastercard® Citi® / AAdvantage® Platinum Select® World Elite Mastercard® Rewards 2 AAdvantage® miles for every $1 spent at gas stations and restaurants, and on eligible American Airlines purchases; 1 Loyalty Point for every 1 eligible AAdvantage® mile earned from purchases Welcome bonus Earn 50,000 American Airlines AAdvantage® bonus miles after spending $2,500 in purchases within the first 3 months of account opening Annual fee $0 first year, then $99 Intro APR None Regular APR 21.24% - 29.99% variable Balance transfer fee 5% of each balance transfer; $5 minimum Foreign transaction fees None Credit needed Good/Excellent Terms apply. Read our Citi® / AAdvantage® Platinum Select® World Elite Mastercard® review. Information about the Citi® / AAdvantage® Platinum Select® World Elite Mastercard® has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication. The mid-tier Citi® / AAdvantage® Platinum Select® World Elite Mastercard® is better for earning American Airlines miles for certain everyday expenses and it has a much lower $0 introductory annual fee for the first year, then $99. It earns 2X miles at restaurants and gas stations, which is twice the miles you'd earn with the Citi AAdvantage Executive. The Citi AAdvantage Platinum Select also comes with some similar perks like a free checked bag for the cardholder and up to four other people traveling on the same domestic American Airlines flight, 25% off inflight American Airlines food and beverage purchases, no foreign transaction fees and preferred boarding. The Citi AAdvantage Executive has more valuable benefits than the Citi AAdvantage Platinum Select, but it's significantly more expensive. So if you won't be able to take full advantage of the AAdvantage Executive's perks, then the AAdvantage Platinum Select card could be a better and affordable more option. Citi AAdvantage Executive vs. Chase Sapphire Reserve® Chase Sapphire Reserve® Learn More On Chase’s secure site Rewards Earn 5X total points on flights and 10X total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases plus, 10X points on Lyft rides through March 2025 Welcome bonus Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠. Annual fee $550 Intro APR None Regular APR 22.49% - 29.49% variable Balance transfer fee 5%, minimum $5 Foreign transaction fee None Credit needed Excellent Terms apply. Read our Chase Sapphire Reserve® review. The Chase Sapphire Reserve is a luxury credit card with more versatile travel benefits than what you get with the Citi AAdvantage Executive. For example, the Sapphire Reserve comes with a Priority Pass membership that grants you access to 1,300+ airport lounges regardless of which airline you're flying with. The Sapphire Reserve also has a slightly lower $550 annual fee and an up to $300 annual travel credit that is much more straightforward than the credits you can earn with the Citi AAdvantage Executive. This credit automatically applies to a range of purchases, such as flights, hotels, rental cars, cruises, trains, taxis, tolls, parking and more. While Chase Ultimate Rewards® points don't transfer to American Airlines, you can use them to pay for American flights at a fixed rate of 1.5 cents per point through Chase Travel℠. Alternatively, you can transfer your points to British Airways Executive Club or Iberia Plus, and then book American Airlines flights from there. However, the Sapphire Reserve can't compete with the airline-specific perks like the free checked bags or priority boarding. Is the Citi AAdvantage Executive card right for you? The Citi AAdvantage Executive has an expensive annual fee so it would only make sense if you live near an American Airlines hub or frequently fly with the airline and can maximize its benefits. It's cheaper to pay the card's annual fee than it is to directly purchase an Admirals Club membership, so it's useful if you want American Airlines lounge access. And the card can help you earn American Airlines elite status more quickly, which unlocks complimentary upgrades and other useful benefits. Bottom line The Citi AAdvantage Executive World Elite Mastercard is a luxury airline card with a variety of benefits American Airlines frequent flyers will appreciate. Its biggest benefit is the complimentary Admirals Club membership but there are a number of other valuable perks as well, including various statement credits, free checked bags and travel insurance protections. However, some of the card's benefits are complicated or only benefit you when you're traveling with American Airlines. So if you don't anticipate flying with American Airlines very often, you might want to consider a more flexible travel card. Subscribe to the CNBC Select Newsletter! Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here. Why trust CNBC Select? At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every airline credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best credit cards. Catch up on CNBC Select's in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date. Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

https://www.cnbc.com/2023/01/09/keybanc-upgrades-visa-and-mastercard-says-credit-card-stocks-will-continue-outperformance-in-2023.html

MA

Mastercard

KeyBanc upgrades Visa and Mastercard, says credit card stocks will continue outperformance in 2023

Visa and Mastercard will do well once again in 2023 after outperforming last year, according to KeyBanc. Analyst Josh Beck raised his rating to overweight from sector weight on each stock, saying both credit card companies will benefit as fintech grows to an embedded model used by merchants, businesses, consumers and issuers. "V/MA: upgrade to OW as our prior travel-related dislocation concerns have faded and new flows (e.g., P2P, B2B, etc.) beyond consumer card are improving the diversification and growth durability," Beck wrote in a Sunday note. Both payments companies outperformed in 2022, with shares of Visa down more than 3% for the year, and Mastercard over 2% lower. The analyst expects the growth runway will continue to unfold for both, as they see new payment flows in 2023. New flows revenue could represent more than 50% of growth through 2026 for Visa, according to the note. It can also rise to more than 40% of the business, up from roughly one-third last year. "Key drivers include VAS (issuer processing, gateway, fraud, analytics, tokens), B2B (commercial/virtual cards, X-border, AP/AR), Visa Direct (e.g., disbursements with customers including Stripe, Adyen, etc.) and other (e.g., government), which in our view enhances the diversity of growth beyond core carded B2C use cases," read the note. "VAS" refers to value-added services. Meanwhile, new flows revenue could account for more than 50% of growth for Mastercard through 2024, the analyst said. It could account for more than 50% of the business, up from more than 45% in 2021, the note read. "Key drivers include VAS (fraud, analytics, processing, consulting), B2B (commercial/virtual cards, RTP, AP/AR), Mastercard Send (e.g., disbursements with customers including Citi, PayPal, etc.) and other (e.g., Bill Pay), which in our view enhances the diversity of growth beyond core B2C use cases," the note read. Shares of Visa are implied to have roughly 3% downside to the analyst's price target of $210, raised from $187. Meanwhile, shares of Mastercard are expected to advance more than 15% to the analyst's $425 price target, which was increased from $305. Both stocks rose more than 1% in Monday premarket trading. — CNBC's Michael Bloom contributed to this report.

https://www.cnbc.com/2023/02/23/biden-nominates-former-mastercard-ceo-ajay-banga-to-head-world-bank.html

MA

Mastercard

Biden nominates former MasterCard CEO Ajay Banga to head World Bank

U.S. President Joe Biden on Thursday nominated former MasterCard CEO Ajay Banga to become president of the World Bank, hailing his business experience in his native India and his commitment to mobilizing private funds to expand financial inclusion and help developing countries grapple with climate change. The World Bank on Wednesday said it expects to select a new president by early May to replace David Malpass, who announced his resignation last week after months of controversy over his views on climate change and pressure by Treasury Secretary Janet Yellen for him to adopt "bolder and more imaginative" reforms. Scott Morris, a senior fellow at the Center for Global Development and a former U.S. Treasury official, said: "I think the speed of the nomination, less than 48 hours after the WB board launched the process, reflects a desire to discourage any challengers and wrap it up quickly." Biden's nomination of Banga, 63, now a U.S. citizen, all but assures he will assume a job that oversees billions of dollars of funding, putting someone with close ties to emerging markets at the helm of the bank as it races to better help developing countries address climate change and other pressing challenges. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," Biden said in a statement. "Raised in India, Ajay has a unique perspective on the opportunities and challenges facing developing countries and how the World Bank can deliver on its ambitious agenda to reduce poverty and expand prosperity." Biden singled Banga's decades of experience building global companies and building public-private partnerships to tackle urgent challenges such as climate change, and said he had a proven track record working with global leaders. Banga's work in India and other emerging markets, his "obsession" with expanding financial inclusion, and his deep knowledge of new technologies could help bridge the growing divide between rich countries and emerging markets, said Luis Alberto Moreno, who worked closely with Banga while serving as president of the Inter-American Development Bank. "He can really be a force for change," Moreno said, noting that Banga enjoyed the trust of financial markets whose support was urgently needed to help raise the trillions of dollars needed to deal with global challenges.

https://www.cnbc.com/2022/10/17/mastercard-will-help-banks-offer-cryptocurrency-trading.html

MA

Mastercard

Mastercard will help banks offer cryptocurrency trading

A 3D printed Mastercard logo is seen in front of displayed stock graph in this illustration taken September 20, 2021. Mastercard is looking to bring crypto to the masses by making it easier for banks to get involved. The payments giant plans to announce a program Monday that will help financial institutions offer cryptocurrency trading, the company told CNBC. Mastercard will act as a "bridge" between Paxos, a crypto trading platform already used by PayPal to offer a similar service, and banks, according to the company. Mastercard and Paxos will handle regulatory compliance and security — two core reasons banks cite for avoiding the asset class. Some consumers have been skeptical, too. Cryptocurrencies like bitcoin are known for volatility, and the world's top digital assets have lost more than half of their value this year. The industry has suffered billions in hacks since January, coupled with multiple high-profile bankruptcies. Mastercard's chief digital officer said polling still shows demand for the asset, but roughly 60% of respondents said they would rather test the waters through their existing banks. "There's a lot of consumers out there that are really interested in this, and intrigued by crypto, but would feel a lot more confident if those services were offered by their financial institutions," Mastercard's chief digital officer, Jorn Lambert, told CNBC in an interview. "It's a little scary to some people still." Large investment banks like Goldman Sachs , Morgan Stanley and JPMorgan have dedicated crypto teams but have largely avoided offering it to consumers. Just last week, JPMorgan CEO Jamie Dimon called cryptocurrencies "decentralized Ponzis" at an Institute for International Finance event. If banks do embrace this Mastercard partnership model, it may mean more competition for Coinbase and other exchanges operating in the U.S.

https://www.cnbc.com/2022/10/04/mastercard-deepens-crypto-push-with-tool-for-preventing-fraud.html

MA

Mastercard

Mastercard pushes deeper into crypto with new tool for combating fraud

In this article MA Follow your favorite stocks CREATE FREE ACCOUNT Roberto Machado Noa/ LightRocket via Getty Images Mastercard will on Tuesday debut a new piece of software that helps banks identify and cut off transactions from fraud-prone crypto exchanges, the company told CNBC exclusively. Called Crypto Secure, the system uses "sophisticated" artificial intelligence algorithms to determine the risk of crime associated with crypto exchanges on the Mastercard payment network. The system relies on data from the blockchain, a public record of crypto transactions, as well as other sources. The service is powered by CipherTrace, a blockchain security startup Mastercard acquired last year. Based in Menlo Park, California, CipherTrace helps businesses and government agencies investigate illicit transactions involving cryptocurrencies. Its main rivals are New York firm Chainalysis and Elliptic, which is based in London. Mastercard is launching the service against a backdrop of growing crime in the nascent digital asset market. The amount of crypto entering wallets with known criminal connections surged to a record $14 billion last year, according to data from blockchain analytics firm Chainalysis. And 2022 has seen a spate of high-profile hacks and scams targeting crypto investors. On the Crypto Secure platform, banks and other card issuers are shown a dashboard with color-coded ratings representing the risk of suspicious activity, with severity of risk ranging from red for "high" to green for "low." Crypto Secure doesn't make a judgment call on whether to turn away a specific crypto merchant. That decision is down to the card issuers themselves. The idea is that the kind of trust we provide for digital commerce transactions, we want to be able to provide the same kind of trust to digital asset transactions for consumers, banks and merchants. Ajay Bhalla president of cyber and intelligence, Mastercard Mastercard already uses similar technology to prevent fraud in fiat currency transactions. With Crypto Secure, it's expanding such functionality to bitcoin and other virtual currencies. Ajay Bhalla, Mastercard's president of cyber and intelligence business, said the move was about ensuring its partners can "stay compliant with the complex regulatory landscape." "The whole digital asset market is now a pretty large, substantial market," he told CNBC in an exclusive interview ahead of the product launch. "The idea is that the kind of trust we provide for digital commerce transactions, we want to be able to provide the same kind of trust to digital asset transactions for consumers, banks and merchants." Compliance has become an important focus in crypto lately as more banks and payment companies enter the fray with their own services for trading and storing digital assets. Last month, Nasdaq became the latest established financial firm to join Wall Street's embrace of crypto, launching custody services for institutional clients. watch now Meanwhile, governments on either side of the Atlantic are looking to implement fresh curbs on the crypto sector, which so far been mostly lacking in regulation. Last month, the Biden administration released its first-ever framework on regulation of the crypto industry in the U.S., while the European Union has approved landmark crypto laws of its own. The payments giant is doubling down on crypto at a time when prices of digital currencies are falling and volumes have dried up. The entire market has shed roughly $2 trillion in value since the peak of a huge rally in November 2021. Bitcoin is now worth less than $20,000 a coin — a roughly 70% plunge from its near-$69,000 all-time high — and in recent weeks has struggled to climb meaningfully above that level. Asked about the impact of the declines in crypto prices on Mastercard's digital asset strategy, Bhalla said the company was "focused on providing solutions to the stakeholders for the long term." "These are market cycles, they will come and they will go," he said. "I think you've got to take the longer view that this is a big marketplace now and evolving and is probably going to be much, much bigger in the future." Despite the slump in digital token prices, crime in the industry has shown no signs of abating. A particularly popular method of swindling crypto investors of their funds this year has been to exploit blockchain bridges, tools used to exchange assets from one crypto network to another. Around $1.4 billion has been lost to breaches on these cross-chain bridges since the start of 2022, according to Chainalysis data.

https://www.cnbc.com/2022/05/17/mastercard-launches-tech-that-lets-you-pay-with-your-face-or-hand.html

MA

Mastercard

Mastercard launches tech that lets you pay with your face or hand in stores

In this article MA Follow your favorite stocks CREATE FREE ACCOUNT Mastercard's biometric checkout technology lets users pay by scanning their face or palm. Mastercard Mastercard is piloting new technology that lets shoppers make payments with just their face or hand at the checkout point. The company on Tuesday launched a program for retailers to offer biometric payment methods, like facial recognition and fingerprint scanning. At checkout, users will be able to authenticate their payment by showing their face or the palm of their hand instead of swiping their card. The program has already gone live in five St Marche grocery stores in Sao Paulo, Brazil. Mastercard says it plans to roll it out globally later this year. "All the research that we've done has told us that consumers love biometrics," Ajay Bhalla, Mastercard's president of cyber and intelligence, told CNBC. "They want making a payment at a store to be as convenient as opening their phone." About 1.4 billion people are expected to use facial recognition technology to authenticate a payment by 2025, more than doubling from 671 million in 2020, according to a forecast from Juniper Research. How does it work? To sign up on Mastercard, you take a picture of your face or scan your fingerprint to register it with an app. This is done either on your smartphone or at a payment terminal. You can then add a credit card, which gets linked to your biometric data. It's similar to tech that's being trialed by Amazon in the U.S. Mastercard says it plans to bring the program to the U.S., Europe, the Middle East and Asia at a later date. In the long run, Mastercard's vision is to make the tech "globally interoperable," Bhalla said. "So once you've stored your credentials, you could use this anywhere." The feature could integrate with loyalty schemes and make personalized recommendations based on previous purchases, Mastercard said. Is it safe? The use of biometric information for payments raises a host of concerns around privacy and how the data gets collected For its part, Mastercard says all the data customers enter into its system is encrypted in such a way that ensures their privacy isn't compromised. When you enrol, your face or fingerprint scan is replaced with a "token" — a random string of alphanumeric characters — and then linked to your payment card. Mastercard said it has created a set of standards to ensure users' data is protected. The company is working with several other firms to launch the feature, including Fujitsu , NEC , Payface, Aurus, PaybyFace and PopID. Preparing for the 'metaverse' Mastercard's biometric tools could one day help with the development of payments infrastructure for the "metaverse," according to Bhalla. "What we are working towards is the metaverse," he said. The metaverse refers to a hypothetical virtual world where users can work, trade or socialize. The term has attracted lots of buzz in Silicon Valley thanks to Facebook's rebrand to Meta last year. watch now

https://www.cnbc.com/2022/08/04/visa-suspends-card-payments-for-ad-purchases-on-pornhub-and-mindgeek-amid-controversy.html

MA

Mastercard

Visa and Mastercard suspend payments for ad purchases on Pornhub and MindGeek amid controversy

Visa and Mastercard said Thursday card payments for advertising on Pornhub and its parent company MindGeek would be suspended after a lawsuit stoked controversy over whether the payments giants could be facilitating child pornography. A federal judge in California on Friday denied Visa's motion to dismiss a lawsuit by a woman who accuses the payment processor of knowingly facilitating the distribution of child pornography on Pornhub and other sites operated by parent company MindGeek. Visa CEO and Chairman Al Kelly said in a statement Thursday that he strongly disagrees with the court and is confident in his position. "Visa condemns sex trafficking, sexual exploitation, and child sexual abuse," Kelly said. "It is illegal, and Visa does not permit the use of our network for illegal activity. Our rules explicitly and unequivocally prohibit the use of our products to pay for content that depicts nonconsensual sexual behavior or child sexual abuse. We are vigilant in our efforts to deter this, and other illegal activity on our network." Kelly said the court decision created uncertainty about the role of TrafficJunky, MindGeek's advertising arm, and accordingly, the company will suspend its Visa acceptance privileges until further notice. During this suspension, Visa cards will not be able to be used to purchase advertising on any sites, including Pornhub or other MindGeek-affiliated sites, Kelly said. "It is Visa's policy to follow the law of every country in which we do business. We do not make moral judgments on legal purchases made by consumers, and we respect the rightful role of lawmakers to make decisions about what is legal and what is not," Kelly said. "Visa can be used only at MindGeek studio sites that feature adult professional actors in legal adult entertainment." Separately, Mastercard told CNBC it's directing financial institutions to suspend acceptance of its products at TrafficJunky following the court ruling. "New facts from last week's court ruling made us aware of advertising revenue outside of our view that appears to provide Pornhub with indirect funding," a statement from Mastercard said. "This step will further enforce our December 2020 decision to terminate the use of our products on that site." At that time, Visa also suspended sites that contained user-generated content, and acceptance on those sites has not been reinstated. The woman is suing Visa and MindGeek over a sexually explicit video her boyfriend filmed of her when she was 13 years old. U.S. District Judge Cormac Carney, of the Central District of California in Santa Ana, said Visa made the decision to continue to recognize MindGeek as a merchant, despite its alleged knowledge that MindGeek monetized child porn. Hedge-fund manager Bill Ackman recently spoke out about the controversy, calling on Visa to pressure Pornhub to remove child pornography from its site. MindGeek told CNBC it has never tolerated child sexual abuse material or any other illegal material. "Recently, allegations have been made that MindGeek knowingly allowed and monetized [child sexual abuse material]. These assertions are reckless and, more importantly, absolutely false," a spokesperson at MindGeek said in a statement. "In many cases, these falsehoods have been propagated by groups whose stated agenda is to shut down the adult entertainment industry."

https://www.cnbc.com/2022/01/27/cramers-investing-club-mastercards-earnings-outlook-for-travel-recovery-justify-stock-price.html

MA

Mastercard

Cramer's Investing Club: Mastercard's earnings, outlook for travel recovery justify stock price

Mastercard (MA) reported a top and bottom line beat for the fourth-quarter 2021. Net revenue of $5.216 billion (+28% YoY on a currency-neutral basis), edged expectations on FactSet of $5.174 billion, and adjusted earnings per share of $2.35 (+46% YoY on a currency-neutral basis) exceeded estimates of $2.21. As a quick note, there are a few specific terms worth being familiar with when analyzing the credit card industry, while we will do our best to provide a brief definition of all the ones mentions, Mastercard has also provided a glossary of key terms , which those interested. Breaking down topline results Domestic Assessments , "fees charged to issuers and acquirers based on the volume of activity on MasterCard-branded cards where the merchant country and cardholder country are the same," increased 24% YoY (currency-neutral) to $2.165 billion, barely missing the $2.183 billion consensus. Cross-Border Volumes Fees , "charged to issuers and acquirers based on the volume of activity on MasterCard-branded cards where the merchant country and cardholder country are different," increased 61% YoY (currency-neutral) to $1.380 billion, nicely beating the $1.325 billion consensus. Notably, this part of the business has come such a long way with overall fourth-quarter cross-border levels now higher than those in 2019. That comes even as cross-border travel levels remain below 2019 levels, though that part of the business is expected to fully recover by the end of 2022. It's a great sign that cross-border is moving in the right direction because this is a high margin business for Mastercard. Transaction Processing Fees grew 28% YoY to $2.987 billion, a smidge above the $2.966 billion consensus. The "Other" category , which comprises Mastercard's Cyber & Intelligence and Data & Services business, grew 30% YoY (currency-neutral) to $1.840 billion, a hair above the $1.739 billion expected. Rebates and Incentives , which are an offset to revenue came, increased 38% (currency-neutral) to $3.156 billion. Given this is an offset, the increase means that Mastercard offered up more incentives in the fourth quarter versus the year ago period. The result in the quarter was more than the $3.016 billion expected, representing a small negative. Key metrics driving results Worldwide Gross Dollar Volume (GDV) , the "aggregated dollar amount of purchases made and cash disbursements obtained with Mastercard-branded cards and the impact of balance transfer and convenience checks," increased 23% on a local currency basis to $2.113 trillion, exceeding expectations of $2.080 trillion, with $1.135 trillion coming from Debit/Prepaid Programs and $978 billion coming from Credit Programs. In the United States, GDV also advanced 23% to $6152billion with $334 billion from Debit/Prepaid and $319 billion from Credit. Rest of World GDV was also up 23% YoY at $1.460 trillion with $802 billion from Debit/Prepaid and $659 billion coming from Credit. Switched Transactions , the "authorization, clearing and settlement" of transactions, were up 27% to $31.4 billion. Additionally, cards issued by Mastercard customers reached 2.978 billion as of the end of the fourth-quarter, a 9% increase versus the year ago period. On expense side Adjusted operating expenses increased 19% (currency neutral) to $2.389 billion. Here's what drove that increase: General & Administrative increased 15% (currency-neutral) to $1.862 billion. Advertising & Marketing increased 42% (currency-neutral) to $338 million. Depreciation & Amortization increased 25% (currency-neutral) to $189 million. Shareholder return On the capital returns front, Mastercard returned $1.734 billion to shareholders via the repurchase of 3.7 million shares at a cost of $1.3 billion and $434 million in dividends. Additionally, quarter-to-date through January 24th 25, 2022, the company has repurchased 1.4 million shares at a cost of $528 million. This leaves $11.4 billion in the tank under the company's approved share repurchase program. Outlook As for 2022 guidance, management's base case scenario is for net revenues to grow at the high-end of a high-teens rate on a currency-neutral basis, excluding acquisitions, which are expected to add about 1 percentage point in growth. Meanwhile, foreign exchange is expected to be a headwind of about 1 to 2 percentage points for the year, largely due to the strengthening U.S. dollar relative to the euro. With analysts expecting revenues to grow about 19% YoY in 2022, we think Mastercard's guide was right in line. As for some other items, management expects operating expenses to grow at the low end of a low double-digit rate on a currency-neutral basis, ex-acquisitions and special items. Acquisitions are expected to add 4 to 5 percentage points to growth, while FX is expected to be a tailwind of 1 percentage point. For the first quarter, management expects net revenue growth at the high-end of a high-teens rate on a currency-neutral basis, excluding acquisitions. Acquisitions are expected to add about 2 percentage points to growth, but the impact of FX is expected to be a headwind of 2 to 3 percentage points. Net-net, this outlook was lower than the 22% growth rate analysts were expecting. However, we think Mastercard has guided the start of the year conservatively. This is our conclusion because if you take a look at the slide below from the company's earnings presentation, you will see that the YoY growth rate for all the key metrics remain above the revenue outlook, despite the early omicron headwind. Importantly, management made no changes to its 2022 to 2024 performance objectives which include a net revenue compound annual growth rate in the high teens, annual operating margin of at least 50%, and an earnings per share compound annual growth rate in the low twenties. Stock impact Overall, Mastercard delivered a very solid quarter. While the full-year 2022 outlook was more or less in line, we think it was better than feared, possibly explaining why the stock has held onto its gains Thursday afternoon despite another ugly reversal for the broader market, which has gone negative for the day as of this writing. Our thesis remains intact here. Mastercard is still a huge beneficiary of the secular trend from cash to card and electronic payments. And a full recovery in cross-border travel is the one last missing piece to this consistent, above-market growth earnings story. But valuations matter, too — and like many fintechs, Mastercard trades at a premium multiple in the market, at roughly 33x 2022 earnings. Highly profitable companies that are growing the bottom line at a low-twenties percent rate — like Mastercard plans to do over the next three years — are worth that type of premium in our view, even as interest rates move higher. That's why we are still holding on to MA in the portfolio. (Jim Cramer's Charitable Trust is long MA. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. A 3D printed Mastercard logo is seen in front of displayed stock graph in this illustration taken September 20, 2021. Dado Ruvic | Reuters

https://www.cnbc.com/2022/05/18/goldman-says-visa-and-mastercard-can-rally-more-than-30percent-as-they-navigate-surging-inflation.html

MA

Mastercard

Goldman says Visa and Mastercard can rally more than 30% as they navigate surging inflation

As valuations fall and inflation persists, these payments firms are best situated to ride the current macroenvironment, Goldman Sachs said. Analyst Will Nance initiated coverage of Visa and Mastercard with buy ratings, saying in a note to clients Tuesday evening that both companies will benefit from the "electrification of consumer spending" and are among the best defensive names to weather inflation. "We are most constructive on V/MA, as we believe these businesses are under-earning given cross-border revenues are on recovery trajectories but still depressed, which along with higher inflation should provide an idiosyncratic growth impulse and a partial offset to any macro weakness," he wrote. Nance also thinks both companies can benefit from a return to cross-border travel and e-commerce as well as "new flows" and services aside from consumer payments. In particular, Goldman sees a $185 trillion opportunity for Visa in areas like business to business. "Between the two, we are incrementally more constructive on Visa, and are adding the stock to the Conviction List, as we believe V's greater US exposure could insulate it from a choppier macro environment," Nance wrote. Nance issued price targets of $282 and $460 per share on Visa and Mastercard, respectively. His Visa target implies upside of 38% from Tuesday's close; the Mastercard forecast is 35% above the stock's previous closing price. Shares of Mastercard and Visa have fallen 5.7% and 5.9%, respectively since the beginning of the year. The bank also launched coverage of Fiserv with a buy rating. — CNBC's Michael Bloom contributed reporting

https://www.cnbc.com/2022/01/18/mastercard-strikes-nft-payments-deal-with-coinbase-amid-wave-of-crypto-partnerships.html

MA

Mastercard

Mastercard strikes NFT payments deal with Coinbase amid a wave of recent crypto partnerships

A 3D printed Mastercard logo is seen in front of displayed stock graph in this illustration taken September 20, 2021. Mastercard said Tuesday it inked a deal with Coinbase , the latest in a recent flurry of partnerships between payment and cryptocurrency giants. As part of the agreement, Coinbase customers will be able to use Mastercard credit and debit cards to make purchases on the crypto exchange's upcoming NFT marketplace. Coinbase unveiled late last year plans to launch the platform for minting and buying nonfungible tokens, which have exploded in popularity over the past 12 months. By teaming up with Mastercard, Coinbase executives said they're looking to reduce friction in the NFT buying process. Right now, that often requires customers opening up a crypto wallet, buying digital currencies, then spending those on NFTs in an online marketplace. Mastercard, meanwhile, said it's looking to help expand consumer choice on how to pay for NFTs. "Getting more people involved safely and securely is perhaps the best way to help the NFT market thrive. As it does, Mastercard sees even greater potential for NFTs' underlying tech to go beyond art and collectibles into many more areas," Mastercard's Raj Dhamodharan said. Mastercard, one of the world's largest credit card and payment companies, has been on a crypto partnership spree lately. Mastercard announced in October that it's teaming up with Bakkt to let banks and merchants in its network offer crypto-related services. It has also partnered up with Gemini, BitPay and Mintable, among others. Rival Visa has been equally active the crypto space. The company has more than 60 partnerships with companies in the space, including the one with Coinbase. American Express has also said it's exploring using its cards and network with stablecoins. But CEO Stephen Squeri recently told Yahoo Finance that consumers should not expect to see an Amex-crypto-linked card "anytime soon." Cryptocurrencies like bitcoin were first designed to get around banks and intermediaries. But banks and payment companies have embraced those technologies as cryptocurrencies become mainstream. Mizuho Securities analyst Dan Dolev said in an email that Tuesday's announcement as another example of Mastercard's "out-of-the-box thinking" in its approach to crypto. Over the long-term, though, Dolev said blockchain technologies and decentralized finance "can be a threat to the overall network ecosystem as they are challenging the trusted third party concept." Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

https://www.cnbc.com/2021/09/02/spotify-netflix-and-match-group-shares-rise-after-apple-relaxes-app-store-rules-.html

MTCH

Match Group

Spotify, Netflix and Match Group shares rise after Apple relaxes App Store rules

The new rule will allow streaming businesses to have higher margins on subscriptions from iPhone users and will enable these companies to more efficiently convert potential iPhone customers to subscribers without ceding billing and other support to Apple. Apple's App Store is the only way to install software on an iPhone and Apple reserves the right to reject apps over violations of its guidelines. On Wednesday, Apple said that content subscription apps, like Spotify, can provide a link out to a website in their apps to sign up for a subscription, allowing the developer to bypass Apple's 15% to 30% cut of gross sales. Spotify shares were up more than 6% on Thursday after Apple announced that it would relax App Store rules that the streamer previously said significantly harmed its business . "Apple's selective tweaks to its App Store rules are welcome, but they don't go far enough," Spotify chief legal officer Horacio Gutierrez tweeted on Thursday. Spotify's complaint about the rule against linking out goes back to at least 2016, when the company complained to Apple in a formal letter after a version of its app was rejected over efforts to link to sign up customers directly. Spotify said at the time the rule caused grave harm to the company and its customers. Spotify was not the only stock up on the news. Netflix , which would also qualify under Apple's new rules, was up 1%. Match Group , which has complained about Apple's App Store and offers a "Tinder Plus" subscription in its Tinder app, was up over 6%. Bumble was up over 4% during trading on Thursday. Currently, when Netflix's app is downloaded it presents a message for users who haven't signed in yet, without a link: "You can't sign up for Netflix in the app. We know it's a hassle." Under Wednesday's change, services should now be able to provide a link in the app to sign up on the service's website. Previously, that was prohibited and developers were encouraged to use Apple's App Store billing system. Apple's concession, made as part of a settlement with the Japanese Fair Trade Association, does not affect all apps on the App Store. Gaming transactions, the bulk of App Store revenue, will not be allowed to link out to bypass Apple billing. Which companies gain the benefits of the rule change will also depend on which apps Apple deems as "reader apps," which are apps that provide content subscriptions, as well as the details of how Apple will change the wording of its guidelines.

https://www.cnbc.com/2021/05/05/stocks-making-the-biggest-moves-in-the-premarket-general-motors-lyft-match-group-more.html

MTCH

Match Group

Stocks making the biggest moves in the premarket: General Motors, Lyft, Match Group & more

Take a look at some of the biggest movers in the premarket: General Motors (GM) – The automaker earned $2.25 per share for the first quarter, compared to a consensus estimate of $1.04 a share, though revenue was very slightly below forecasts. GM said its results were helped by strong auto pricing as well as solid credit performance at GM Financial. GM shares rose 3.5% in premarket trading. Lyft (LYFT) – Lyft lost 35 cents per share during the first quarter, but the ride-hailing company's loss was smaller than the 53 cents a share that analysts were anticipating. Revenue exceeded forecasts, as did the number of active riders during the quarter. Its shares rallied 5.7% in premarket trading. Match Group (MTCH) – Match Group jumped 6.2% in the premarket after it beat estimates by 17 cents a share, with first-quarter earnings of 57 cents per share. The operator of Tinder and other dating services also reported revenue above analysts' forecasts and Match Group gave strong current-quarter guidance as it anticipates a surge in dating demand as the pandemic recedes. Hilton Worldwide (HLT) – The hotel operator reported net earnings of 2 cents per share for the first quarter, missing the consensus estimate of 8 cents a share. Revenue also came in below analysts' projections. Hilton continued to be hit by pandemic-related travel restrictions, although it said 97% of its hotels were opened by the end of April. Its shares fell 2.7% in premarket trading. Scotts Miracle-Gro (SMG) – The maker of lawn and garden products saw its shares gain 3.5% in the premarket after beating estimates on the top and bottom lines for its latest quarter. Scotts continues to benefit from a surge in consumer demand as homeowners continued to focus on home projects amid the pandemic. Tupperware (TUP) – The maker of storage products surged 7.2% in premarket action after a top and bottom line beat. Tupperware earned 82 cents a share for its latest quarter, well above the consensus estimate of 54 cents a share. Revenue was above estimates as well. ODP (ODP) – The stock jumped 4.7% in premarket action after the parent of Office Depot announced it would split into two separate publicly traded companies. Office Depot and OfficeMax locations will be operated by ODP, while the yet-unnamed new company will contain ODP's business-to-business operations. Current shareholders will own 100% of the new company. Activision Blizzard (ATVI) – Activision beat estimates by 14 cents a share, with quarterly earnings of 84 cents per share. The video game maker's revenue also exceeded Wall Street forecasts and the company raised its full-year forecast as demand remains elevated for games like "Call of Duty" and "Candy Crush." Its shares gained 4.5% in the premarket. T-Mobile US (TMUS) – T-Mobile was up 3.3% in premarket trading after it came in 17 cents a share above consensus by earning 74 cents per share for its latest quarter. Revenue also topped estimates, and the mobile service provider added a larger-than-expected number of paying subscribers during the quarter. Caesars Entertainment (CZR) – Caesars shares surged 6.7% in premarket action. The casino operator reported a smaller-than-expected loss for the first quarter, while its revenue was above estimates. Caesars said results continue to improve significantly as the pace of Covid-19 vaccinations accelerates. Zillow (ZG) – Zillow reported quarterly earnings of 44 cents per share, compared to a consensus estimate of 25 cents a share. The real estate website operator's revenue also came in above estimates, and traffic to its websites and apps rose 19% compared to a year ago. Zillow shares climbed 2.6% in the premarket. Herbalife Nutrition (HLF) – Herbalife reported better-than-expected sales and profit for the first quarter, and raised its full-year guidance. The health and wellness products maker saw particularly strong growth in its sports nutrition category. The stock added 4.7% in the premarket.

https://www.cnbc.com/2015/11/09/match-group-plans-to-raise-up-to-4662m-from-its-ipo.html

MTCH

Match Group

Match Group plans to raise up to $466.2M from its IPO

The owner of Tinder, Match.com and OkCupid hopes to raise as much as $466.2 million in an initial public offering of company shares. Match Group disclosed in a regulatory filing Monday that it will price its IPO of about 33.3 million shares between $12 and $14 per share. Match Group will list on Nasdaq under the symbol "MTCH." There will be three classes of stock: common stock, Class B common stock and Class C common stock. Common stockholders will be entitled to one vote per share, while Class B shareholders will get 10 votes per share. Class C shareholders cannot vote. Parent company IAC/InterActiveCorp , controlled by billionaire Barry Diller, will own all shares of outstanding class B stock. It will maintain majority control of Match Group after the offering.

https://www.cnbc.com/2015/11/18/tinder-okcupid-parent-match-group-raises-400-mln-in-ipo.html

MTCH

Match Group

Online dating company Match Group raises $400 million in IPO

Match Group priced its initial public offering at the low end of expectations to raise $400 million, a person familiar with the matter said, valuing the parent of Tinder, OkCupid and other online dating services at around $4.2 billion, including debt. The company, owned by media mogul Barry Diller's IAC/InterActiveCorp, has developed online dating sites that work well on smartphones, attracting busy young professionals that are highly coveted by advertisers. Match priced its IPO at $12 per share, within the indicative range of $12 to $14, the person said, asking not to be identified ahead of an official announcement. A Match Group spokesman did not immediately respond to a request for comment.

https://www.cnbc.com/2023/08/02/stocks-making-the-biggest-moves-premarket-match-cvs-sedg.html

MTCH

Match Group

Stocks making the biggest moves premarket: Match Group, CVS, Paycom and more

Check out the companies making headlines before the bell Wednesday. CVS Health — Shares of the retail pharmacy giant rose 1.8% premarket after the company posted strong earnings and revenue for the second quarter. CVS reported earnings of $2.21 per share on revenue of $88.9 billion. Wall Street analysts expected $2.11 per share on earnings of $86.5 billion, according to Refinitiv. Kraft Heinz — The food and beverage stock dipped 1% before the bell after reporting mixed quarterly results that fell short of Wall Street's revenue expectations. Kraft Heinz posted adjusted earnings of 79 cents a share, excluding items, on revenue of $6.72 billion. Norwegian Cruise Line — The stock fell 3.2% in premarket trading after the company posted its earnings results Tuesday, which indicated weaker-than-expected guidance for the third quarter. The cruise ship operator topped Wall Street's estimates, however. On Wednesday, Susquehanna downgraded its rating on Norwegian shares to neutral from positive. It maintained its price target of $17, which suggests a 12.4% downside from Tuesday's close. SolarEdge Technologies — The solar stock fell 13.4% after the company missed revenue expectations in its second quarter, reporting $991 million compared with the expected $992 million from analysts polled by Refinitiv. The company beat earnings estimates, however, coming out higher than the $2.52 per-share estimate at an adjusted $2.62 per share. Robinhood — Shares of the retail brokerage moved 2% lower ahead of quarterly results due after the closing bell. Analysts polled by FactSet are forecasting a small quarterly loss of 1 cent. Freshworks — Shares of the software as a service company popped more than 16% after Freshworks posted second-quarter revenue of $145.1 million, beating analysts' expectations of $141.4 million as gauged by FactSet. The company also reported earnings per share of 7 cents, surpassing Wall Street's estimate of 2 cents. Canaccord Genuity analyst David Hynes upgraded the stock to buy from hold and increased his price target to $25 from $15, citing Freshworks' second-quarter operating margins and improved marketing and sales efficiency. AMD — The chip stock climbed more than 2% in premarket trading after the company posted better-than-expected second-quarter earnings and revenue. The company's sales forecast for the third quarter was weaker than expected, however. Match Group — The Tinder and Match parent jumped 10% on a strong second-quarter earnings report. Match beat Wall Street expectations for both the top and bottom lines and said current-quarter revenue should come in above the consensus estimate of analysts, according to Refinitiv. BTIG upgraded the stock to buy from neutral following the report. Humana — The health insurer added 5.6% after reporting second-quarter adjusted earnings per share of $8.94, topping the $8.76 anticipated by analysts, per StreetAccount. The company also forecast its Medicare Advantage business will grow by about 825,000 members this year. Starbucks — Shares of the coffee chain dipped more than 1% after Starbucks reported lighter-than-expected sales for its fiscal third quarter. The company reported $1 in adjusted earnings per share on $9.17 billion of revenue. Analysts surveyed by Refinitiv were looking for 95 cents on earnings per share but $9.29 billion of revenue. The miss came even as same store sales boomed in China. — CNBC's Tanaya Macheel, Alex Harring, Yun Li, Jesse Pound, Samantha Subin, Brian Evans and Michelle Fox Theobald contributed reporting.

https://www.cnbc.com/2020/06/19/stock-market-today-match-group-could-see-more-highs-investor-says.html

MTCH

Match Group

One strategy to play Match Group's rally to records, investor says

One investor is betting on love in the time of Covid-19. Todd Gordon, managing director of Ascent Wealth Partners, said Match Group could be headed higher. "It's a stock that we've been tracking and holding in our global growth strategy at Ascent," Gordon told CNBC's "Trading Nation" on Thursday. "According to [Ascent Chief Investment Officer Scott McCartney], this is a clear market leader in a secular growth category within our new virtual normal as a response to Covid-19 and social distancing." Gordon also sees a bullish case forming in the charts. The stock, he said, is attempting to break out above resistance at $100 after surging 116% off March lows. The shares were trading above $96 on Friday afternoon. Match Group hit an all-time high of $99.43 earlier in the day. To take advantage of a move up above $100, Gordon is opting for a stock replacement strategy where he buys the Delta 70 call with Aug. 21 expiration – this is a bet that Match can break higher heading into and following Aug. 5 earnings. The Delta 70 call option acts as 70% of the stock – when the stock rises $1, the underlying option increases by 70 cents. "Back to the fundamental thesis, we think Match customers prefer sort of a stand-alone dating app thus Facebook 's efforts to enter the space are not really a concern and recently they settled litigation with Bumble – this is a privately held competitor – which is bullish," he added. Match is expected to post earnings of 45 cents a share for its June-ended quarter, according to FactSet. That implies 5% profit growth. Disclosure: Ascent Wealth Partners holds Match. Disclaimer

https://www.cnbc.com/2020/11/04/stocks-making-the-biggest-moves-after-hours-qualcomm-match-group-expedia-more.html

MTCH

Match Group

Stocks making the biggest moves after hours: Qualcomm, Match Group, Expedia & more

Attendees walk by the Qualcomm booth during CES 2019 at the Las Vegas Convention Center on January 9, 2019 in Las Vegas, Nevada. Check out the companies making headlines after the bell on Wednesday: Qualcomm — Qualcomm shares rallied more than 13% in after-hours trading on the back of better-than-expected quarterly results. The chip maker reported earnings per share of $1.45 on revenue of $6.5 billion. Analysts polled by Refinitiv expected a profit of $1.17 per share on revenue of $5.94 billion. Qualcomm also issued earnings and revenue guidance for the current quarter that was better than forecast. Match Group — The parent company of dating services Tinder and Hinge posted a third-quarter revenue figure that beat analyst expectations, sending the stock up 2.7% in after-hours trading. Match reported a revenue of $640 million per share, topping a Refinitiv estimate of $605 million. Expedia — Expedia shares popped 5.5% after the bell after the travel bookings giant reported a smaller-than-expected loss for the previous quarter and a stronger-than-forecast revenue. The company said it lost 22 cents per share, with revenue coming in at $1.5 billion. Analysts expected a loss of 79 cents per share on revenue of $1.38 billion. GoDaddy — Shares of GoDaddy rose 2.8% after the website domain company posted third-quarter sales that beat analyst expectations. GoDaddy reported a revenue of $844 million, while analysts polled by Refinitiv expected a print of $835 million. Revenue from hosting and domains also topped analyst estimates. Ping Identity — Ping Identity reported adjusted earnings per share of 11 cents, topping a FactSet estimate of 2 cents earnings per share, but the cybersecurity company's stock dropped more than 9% in after-hours trading.

https://www.cnbc.com/2023/03/14/barclays-upgrades-match-shares-says-tinder-parent-is-now-a-value-stock.html

MTCH

Match Group

Barclays upgrades Match shares, says Tinder parent is now a value stock

Barclays said it's "swiping right" on Match , viewing it now as a value stock. "We believe MTCH has effectively transitioned from an Internet growth stock over the past few years to now a value stock due to its high-margin profile and strong cash flow generation," analyst Mario Lu wrote in a client note on Tuesday. Lu upgraded Match shares to overweight from equal weight. He maintained his price target of $52, implying 49.5% upside from Monday's close price. The analyst noted the continued risk of Tinder, one of Match Group's primary dating platforms, seeing continuous decline in payer growth. However, he said that risk is overblown. "While there is continued risk that Tinder payer growth does not recover by 2H23 if macro continues to weaken, we believe the company's strategy in FY23 to focus on optimizations to drive payer growth is a prudent one that was highly effective in the past as they resulted in sequential payer net adds at a similar magnitude to new large features such as Tinder Gold," said Lu. Barclays anticipates "significant revenue upside" from new potential initiatives from Match. Lu estimates that a $500 subscription tier at Tinder could add approximately $560 million in revenue. Advertising revenue could also increase by $50 million, the analyst noted, if Tinder optimizes low average revenue per user, high monthly active user countries such as Brazil and India. "It is important to note that 1) the drivers of Tinder growth in FY23 is expected to be 2/3 from optimizations, meaning it will come from smaller adjustments within the app vs. larger bets like Tinder Coins and higher price tiers and 2) it does not rely on an influx of new users and is therefore more within the company's control, which is encouraging as we believe that further de-risks the lowered expectations for the company," Lu said. Match shares were up 2.1% on Tuesday during premarket hours. The stock has tumbled 16.1% in 2023 and 59.1% during the past 12 months. —CNBC's Michael Bloom contributed to this report.

https://www.cnbc.com/2020/12/09/cramer-lightning-round-match-group-is-a-real-good-company.html

MTCH

Match Group

Cramer's lightning round: Match Group is a 'real good company'

Schlumberger : "I'm not a big fan of slob (SLB) anymore." Match Group : "Match is real. … That's a real good company." Bill.com : "We like this. … and by the way, we like Coupa, too. Don't rule out Coupa." Renewable Energy Group : "Can I suggest that you do Clean Harbors ? I have a better feel for Clean Harbors."

https://www.cnbc.com/2020/11/05/stocks-making-the-biggest-moves-midday-qualcomm-expedia-match-group-more.html

MTCH

Match Group

Stocks making the biggest moves midday: Qualcomm, Expedia, Match Group & more

A Qualcomm sign is seen at the second China International Import Expo (CIIE) in Shanghai, China November 6, 2019. Here are the stocks making notable moves in midday trading: Qualcomm – Shares of Qualcomm surged more than 12% after the chipmaker reported stronger-than-expected quarterly results. Qualcomm posted adjusted quarterly earnings of $1.45 per share, beating the Refinitiv consensus estimate of $1.17. Its revenue also came in above forecasts. Qualcomm said it will benefit from the rise of 5G networks and handsets. Verizon – Shares of Verizon rose 1.6% after JPMorgan upgraded the wireless telecommunications giant to overweight from neutral. The Wall Street firm said it's a "defensive" stock poised to grow and gain investors' "confidence." Expedia Group – Shares of the travel website jumped 4.7% after the company beat top and bottom line estimates during the third quarter. Expedia lost 22 cents per share during the period, which was less than the 79 cent loss analysts surveyed by Refinitiv expected. "Travel demand continued to be significantly impacted by the virus in the third quarter, but the increased travel in the quarter, along with continued progress on our cost initiatives, led to improved financial results," the company said in a statement. Match Group – Match Group rose 4.9% after the company said that the pandemic boosted the popularity of its services during the third quarter, with Tinder seeing a 16% jump in average subscriber growth. Revenue grew 18% year over year to $640 million. General Motors — Shares of the automaker moved 5.4% higher after posting better-than-expected earnings for the third quarter. GM earned an adjusted $2.83 per share. Analysts polled by Refinitiv expected a profit of $1.38 per share. The company's earnings were driven by strong truck and SUV sales in North America. HanesBrands — Shares of the clothing company tanked more than 18% after issuing weak fourth quarter revenue and earnings guidance. HanesBrands, however, beat on the top and bottom lines of its third quarter results, which were boosted by strong demand in its Champion brand. Cardinal Health — The health care stock climbed more than 7% after Cardinal beat Wall Street expectations for its fiscal first quarter. The company reported $1.51 in adjusted earnings per share and $39.01 billion in revenue. Analysts surveyed by Refinitiv were looking for $1.13 per share and $38.18 billion. Cardinal did take a $1 billion pre-tax charge related to opioid litigation. Zynga — Shares of the video game company sank 7.3% despite better-than-projected third-quarter bookings for Zynga. The company reported $628 million in bookings, $2 million higher than analysts surveyed by Refinitiv were looking for, but MKM Partners said in a note that "4Q guidance lacks the leverage investors hoped to see." Capri Holdings — The apparel stock jumped more than 8% after Capri Holdings beat Wall Street estimates for its fiscal second-quarter as digital sales climbed 60%. The company reported 90 cents per share in adjusted earnings and $1.11 billion in revenue. Analysts surveyed by Refinitiv projected a profit of 4 cents per share and $925 million in revenue. Qorvo — The chip stock surged 9.7% after Qorvo reported better-than-expected results for its fiscal second quarter. Qorvo generated $2.43 in adjusted earnings per share on $1.06 billion in revenue. Analysts surveyed by FactSet had expected $2.12 in earnings per share and $1.00 billion in revenue. The company also announced that it had acquired French software company 7Hugs Labs S.A.S. and won a $75 million U.S. federal contract for a production center. Barrick Gold — The mining stock gained nearly 7% on Wednesday after the company reported better-than-expected earnings for third quarter. Barrick's adjusted earnings per share of 41 cents was 9 cents higher than analysts had projected, according to FactSet. Barrick also increased its quarterly dividend by 12.5%. Lumen Technologies — Shares of the telecom company surged 5.5% after the company formerly known as CenturyLink reported a stronger-than-expected third quarter. The company generated 40 cents in adjusted earnings per share on $5.17 billion in revenue. Analysts were looking for 30 cents per share and $5.14 billion in revenue, according to FactSet. — CNBC's Yun Li, Maggie Fitzgerald and Pippa Stevens contributed to this story.

https://www.cnbc.com/2021/09/30/stocks-making-the-biggest-moves-premarket-carmax-mccormick-fubotv.html

MKC

McCormick & Company

Stocks making the biggest moves premarket: CarMax, McCormick, fuboTV, Merck and more

Check out the companies making headlines before the bell: CarMax (KMX) – The auto retailer missed estimates by 18 cents with quarterly earnings of $1.72 per share, although revenue topped analyst projections. Comparable pre-owned car sales rose 6.2%, less than the 7.3% estimate of analysts surveyed by StreetAccount. CarMax tumbled 7.1% in the premarket. McCormick (MKC) – The spice maker reported adjusted quarterly earnings of 80 cents per share, beating estimates by 8 cents, with revenue slightly above Wall Street forecasts. However, it also cut its full-year earnings forecast as it deals with higher inflation and logistics challenges. fuboTV (FUBO) – The sports-centered video streaming service's Fubo Gaming unit is partnering with payments platform Paysafe (PSFE) for its interactive wagering operation. Paysafe rose 1.1% in the premarket while fuboTV added 1.4%. Merck (MRK) – Merck struck a deal to buy drugmaker Acceleron Pharma (XLRN) for $180 per share in cash or $11.5 billion. It had been reported earlier this month that Acceleron was close to a sale agreement, and reports earlier this week had named Merck as the suitor. Virgin Galactic (SPCE) – Virgin Galactic shares soared 8.9% in the premarket after the FAA concluded a probe of a July 11th flight mishap and allowed the company to resume launches. The investigation determined that the July flight had deviated from its assigned path and that Virgin had not communicated the deviation to the FAA as required. Diageo (DEO) – Diageo said its new fiscal year is off to a strong start, with the world's largest spirits producer pointing to a strong North American business and a faster-than-expected recovery in European markets. Diageo rose 2.3% in premarket trading. AstraZeneca (AZN) – The drugmaker's Covid-19 vaccine showed 74% efficacy in a U.S. clinical trial, and 83.5% efficacy in people 65 years and older. The company expects to file for U.S. approval later this year. Altria (MO), Philip Morris International (PM) – The tobacco producers were ordered by the International Trade Commission to halt the import and sales of their IQOS heated tobacco device. The order stems from a patent case brought by rival tobacco producer R.J. Reynolds, with the case now moving to an administrative review. Lordstown Motors (RIDE) – Lordstown is near a deal to sell its Ohio car factory to Taiwan's Foxconn Technology for an undisclosed amount, according to people familiar with the matter who spoke to Bloomberg. The electric truck maker had bought the plant from General Motors (GM) less than two years ago. Lordstown rallied 5.6% in the premarket. Herman Miller (MLHR) – Herman Miller fell a penny shy of Wall Street forecasts with adjusted quarterly earnings of 49 cents per share, but the office furniture maker's sales came in well above estimates and it also gave an upbeat current-quarter earnings forecast. Herman Miller added 2.2% in premarket action. Perrigo (PRGO) – Perrigo shares surged 14.3% in premarket trading after the drugmaker resolved a tax dispute with Ireland for about $399 million, with no interest or penalties applied.

https://www.cnbc.com/2020/09/29/stocks-making-the-biggest-moves-in-the-premarket-mccormick-walmart-amazon-big-lots-more.html

MKC

McCormick & Company

Stocks making the biggest moves in the premarket: McCormick, Walmart, Amazon, Big Lots & more

Take a look at some of the biggest movers in the premarket: IHS Markit (INFO) – The financial information and analytics provider earned 77 cents per share for its latest quarter, 8 cents a share above estimates. Revenue was in line with forecasts. The company said it is seeing recovery at "varying speeds" in the markets it serves. McCormick (MKC) – The spice maker came in one cent a share ahead of estimates, with quarterly earnings of $1.53 per share. Revenue also came in above Wall Street projections. McCormick saw strong growth in its consumer segment, although that was offset by lower demand in its restaurant and foodservice business. The company is projecting fiscal 2020 adjusted earnings per share of $5.64-$5.72, compared to a consensus estimate of $5.76. McCormick also announced a 2-for-1 stock split. Walmart (WMT) – Walmart is in advanced talks to invest up to $25 billion in India-based conglomerate Tata Group's "super app," according to a report in the Mint newspaper. The app is set to launch in December or January, and would offer a wide range of products sold by Tata's consumer business. Amazon.com (AMZN) – Amazon launched a $4.99 per month personal shopping service for men, an expansion of its existing Prime Wardrobe service. The new service could put pressure on rival styling service Stitch Fix (SFIX). Extended Stay America (STAY), Park Hotels (PK), Pebblebrook (PEB), Sunstone (SHO) – Bank of America Securities upgraded the hotel operators to "buy" from "neutral," with the firm saying it was positioning for a possible Covid-19 vaccine and potential travel recovery. BofA acknowledges that demand in certain segments remains "extremely challenged." Big Lots (BIG) – The discount retailer said it expects to report current-quarter earnings of 50 cents to 70 cents per share, compared to a consensus estimate of 21 cents a share as demand for home goods remains strong. The company's fiscal third-quarter ends Oct. 31. Microsoft (MSFT) – Microsoft's Office 365 and Azure cloud services suffered a disruption of several hours on Monday, impacting users of such services as Outlook email and the Teams office collaboration suite. Universal Health Services (UHS) – Universal Health Services took its computer systems offline after the hospital operator was victimized by a malware attack. Universal Health said the outage did not cause any patient harm and that no patient or employee data appears to have been accessed. Alphabet (GOOGL) – Alphabet's Google unit will require app developers that distribute apps through the Google Play store to use its in-app payment system, which takes a 30% fee. Google did not specify apps that had been skirting the rule, but Netflix (NFLX) and Spotify (SPOT) are among those who prompt Android users to pay them directly using a credit card. Polaris Industries (PII) – The recreational vehicle maker signed a 10-year deal with Zero Motorcycles to develop and sell electric off-road vehicles and snowmobiles. The partnership's first vehicle is expected to debut by the end of 2021. United Natural Foods (UNFI) – United Natural Foods reported quarterly earnings of $1.06 per share, beating the 74 cents a share consensus estimate. Revenue also exceeded forecasts. The largest U.S. publicly traded food wholesaler also gave a better-than-expected fiscal 2021 earnings outlook. Separately, the company announced that CEO Steven Skinner plans to retire next July 31 when his contract expires, or sooner if a successor is named. Tiffany (TIF) – Tiffany was countersued by France's LVMH, with the luxury goods maker accused of financial mismanagement during the Covid-19 pandemic. LVMH announced plans to walk away from its planned takeover of Tiffany earlier this month, and argued in court that the alleged mismanagement allows it to do so. CORRECTION: This article has been updated to show that Polaris Industries signed a 10-year deal with Zero Motorcycles to develop and sell snowmobiles, not motorcycles.

https://www.cnbc.com/2019/10/02/jim-cramer-in-this-unpredictable-market-buy-a-stock-like-mccormick.html

MKC

McCormick & Company

In this unpredictable market, buy stock in spice and food giant McCormick, Jim Cramer says

CNBC's Jim Cramer said Wednesday that spice maker and food company McCormick is a stock worth owning as the market continues its recent unpredictability. "A straightforward consumer staple play like McCormick is just what the doctor ordered," the "Mad Money" host said. "As long as the market remains choppy, I think this stock is the kind of stock you buy on the way down ... and I like it even more after today's pullback." Cramer said he has long been a fan of McCormick, but pointed to a few factors that make the Maryland-based company a particularly attractive investment right now. For starters, Cramer said he sees more positives for McCormick than its quarterly earnings numbers showed. McCormick beat earnings estimates this week but their sales came in a little lower than expected, up 1% year over year. Management also lowered its full-year sales forecast, even as it raised its full-year earnings forecast. But Cramer said CEO Lawrence Kurzius' conference call offered assurance about McCormick's strong position in the face of economic slowdown, fears of which have contributed to the market's two-day sell-off. The fact McCormick's portfolio now includes names like Frank's RedHot and French's mustard is a reason why the stock is a good one to own, Cramer said. McCormick acquired those brands in a $4.2 billion deal in 2017. "Frank's hot sauce saw major distribution gains and record-high household penetration," Cramer said. "...Across the whole [Frank's] portfolio, McCormick saw double-digit consumption growth. I regard it as incredible." McCormick also has displayed marketing savvy with the French's brand, Cramer said, giving him confidence the company can deftly navigate the new media landscape to drive revenue. With its geographic reach and wide-ranging portfolio, McCormick is "a classic consumer staple that can keep hitting their forecasts even if the economy falls off a cliff," Cramer argued. McCormick's stock closed down around 1.3% on Wednesday to $164.74. That decline followed a surge of more than 6% on Tuesday amid broader market losses. "Some of that's because the company reported an OK quarter and the stock had pulled back going into the report," Cramer said. But Cramer said there is actually something else at play: the stock rose not despite the broader market declines, but because of them. "This is exactly the kind of name that money managers love to pile into when they're worried about an economic slowdown," Cramer said. "In other words, McCormick may be the perfect stock for this moment, and thanks to today's market-wide meltdown, you can actually buy this thing a little bit lower than it was yesterday."

https://www.cnbc.com/2020/05/13/mccormick-ceo-demand-still-strong-in-china-home-cooking-still-popular.html

MKC

McCormick & Company

CEO of spice maker McCormick says demand still strong in China as home cooking remains popular

McCormick & Company CEO Lawrence Kurzius told CNBC on Wednesday that the spice maker has continued to see increased consumer demand in China, even as coronavirus-related restrictions were eased in the country. "We're still seeing ... strong double-digit year-on-year increases for retail food products for China consumers," Kurzius said on "Closing Bell." "So this new pattern of behavior, cooking at home, is likely to be with us for quite some time." China, where the Covid-19 outbreak originated late last year, is about "maybe two or three months ahead" of the U.S. in experiencing the public health crisis, Kurzius said.His comments may offer insight into U.S. consumer spending as states move to reopen parts of their economy, particularly as restaurants are allowed to welcome back dine-in customers. McCormick, the maker of Old Bay Seasoning, French's mustard and Frank's Red Hot, saw its stock close .1% lower Wednesday at $168.52. The stock is up about 50% from its March 23 low of $112.23. The S&P 500 also hit its most recent low that day, and the index has since risen nearly 29%. "A lot of people are really learning how to cook right now," said Kurzius, who also is the company's chairman and president. He said McCormick taco mix has seen spiked demand, with sales up triple digits, and products for baking also have been popular. The company also has observed significant upticks in online search traffic for recipe tips. "No question is too simple. We've gotten questions like, 'What is a teaspoon?'" he said. "We know that people are learning how to cook for the first time, and like anything, practice makes perfect. I think people are going to have some good experiences with it, and it's a pattern of behavior that's going to keep up."

https://www.cnbc.com/2020/11/24/mccormick-to-buy-hot-sauce-maker-cholula-for-800-million.html

MKC

McCormick & Company

McCormick to buy hot-sauce maker Cholula for $800 million

A shopper reaches toward a display of McCormick spices and flavorings in an Associated Supermarket in 2005. Spice maker McCormick said on Tuesday it would buy hot-sauce maker Cholula's parent from private-equity firm L Catterton for $800 million, as it looks to cash in on robust demand for packaged foods during the Covid-19 pandemic. Several food producers, ranging from plant-based patty maker Beyond Meat to breakfast cereal maker Kellogg , have seen a surge in their sales to supermarkets as people cook more at home due to the health crisis. McCormick, which already owns Frank's RedHot and Old Bay hot sauce brands, reported an 8% jump in sales in its latest reporting quarter, as higher at-home food consumption outweighed weak sales to its restaurant partners. Hot sauces have grown in popularity in recent years, thanks in part to the rising popularity of spicier cuisines such as Thai and Szechwan, as well as the pop-culture influence of YouTube shows such as Hot Ones. Cholula's annual net sales are about $96 million and are expected to grow in the mid-to high-single digits in a normalized environment beyond the pandemic, McCormick said. The deal, likely to be completed by the end of this year, is expected to add to McCormick's adjusted earnings per share in 2021, the company said. The Wall Street Journal first reported on Monday that McCormick was nearing a deal to buy Cholula. Analysts have said fast-growing Cholula is a great fit for McCormick's portfolio, but they remained cautious as to whether the deal would receive regulatory clearance.

https://www.cnbc.com/2020/02/06/mccormick-ceo-says-coronavirus-can-not-be-a-positive-for-the-business.html

MKC

McCormick & Company

McCormick CEO says it's 'hard to know the impact of the coronavirus in China'

Executives and investors are trying to gauge how the coronavirus outbreak could affect business in real time, and McCormick & Company head Lawrence Kurzius was candid on Thursday, saying, "It's hard to say that it's a positive." "Right now, it's hard to know the impact of the coronavirus in China. We have a large business in China," the chief executive told CNBC's Jim Cramer in a sit-down on "Mad Money." "Part of it is supplying consumers, part of it is supplying restaurants. Consumers are not, you know, going out. A lot of the country's on lockdown." Last week, Cramer suggested that McCormick, the parent of Old Bay Seasoning, French's and Frank's Red Hot, could be a stock worth investing in to hedge against the novel virus that originated in the Chinese city of Wuhan and has spread across the globe. The host recommended it as the "ultimate stay-at-home stock" because the company sells a range of condiments and seasonings consumers can stock up in their kitchen cabinets. As the outbreak reached epidemic levels in the Hubei province and trickled across the world, Chinese officials placed multiple cities there on partial or complete lockdown. The region is a major manufacturing center for companies doing business with American companies. In Wuhan, the virus's epicenter, McCormick employs more than 900 people, Kurzius said. He added that it's unclear how it could impact operations, though supplies outside the China market will not be affected. McCormick's China factory makes products for that market, he said. "Right now, our No. 1 concerns are for the health and safety of our employees and the quality and integrity of our products," he said. "It's a little soon to know ... the financial impact, but it can't be a positive, you know, when people aren't going out to restaurants and consuming our customers' products. I think it's a tough time there." McCormick shares have climbed almost 32% to $162.12 in the past year. The stock has traded in the red within the past two weeks.

https://www.cnbc.com/2020/04/02/mccormick-ceo-lawrence-kurzius-china-coming-back-after-coronavirus.html

MKC

McCormick & Company

CEO of spice maker McCormick: 'We've lived all phases of this crisis' and China is coming back

McCormick & Company Chairman and CEO Lawrence Kurzius said Thursday the spice maker's business in China has improved in recent weeks as that country emerges from the coronavirus outbreak. "We've lived all three phases of this crisis," he said on CNBC's "Squawk on the Street." "Our China business is coming back." McCormick, the maker of Old Bay Seasoning, French's mustard and Frank's Red Hot, has three plants in China, including one in the city of Wuhan in Hubei province, Kurzius said. The coronavirus originated in Wuhan late last year. "All of our facilities are open. People are back at work. We're operating normally," he said. Retail demand from consumers is "through the roof," Kurzuis said, but he cautioned that not everything has gone back to normal. He said the company's food service business is recovering at a slower pace. "Quick service restaurants and regular food service restaurants are open largely, but customer traffic is building. It's going to take a while for that to rebuild," he said. Kurzius' insight into how McCormick's China business is recovering from the outbreak fallout comes during a debate over the Chinese government's transparency around the crisis. Bloomberg recently reported that U.S. intelligence officials told the White House that China deliberately downplayed the scale of the outbreak, limiting the reported number of confirmed cases and deaths. There have been more than 82,400 confirmed cases in China and 3,322 deaths, according to composite data Thursday morning from Johns Hopkins University. Chinese health officials also have reported a step decline in new cases over the last few weeks. But Kurzius is among other business leaders who say the situation on the ground in China has improved. Starbucks has reopened around 95% of the stores it temporarily shuttered in China in response to the virus' spread, CEO Kevin Johnson told CNBC last week.

https://www.cnbc.com/2020/01/29/old-bay-hot-sauce-where-to-buy-limited-edition-mccormick-seasoning.html

MKC

McCormick & Company

McCormick unveils limited edition Old Bay Hot Sauce — and demand is already high

Maryland-based McCormick & Company unveiled an Old Bay-branded hot sauce this week — and sold out in the first day of sales. The company began selling the limited edition hot sauce on its website Wednesday and will debut the condiment in stores within "the next month or so." "The unique blend of herbs and spices that fans have loved for more than 75 years, is going from a zesty sprinkle to a zingy splash," the company said in an announcement. "Tangy with a kick of heat, and that distinctive Chesapeake flavor, Old Bay Hot Sauce is sure to win over hearts (and mouths!)." tweet Demand was so high that the online shop crashed intermittently on Wednesday. tweet The company said it's restocking the hot sauce and will resume sales, though it didn't specify exactly when. The hot sauce will eventually be available at grocers including Acme , Food Lion, Martin's, Wegmans, Weis, Safeway and Giant, McCormick said in a statement. Suggested retail for a 10-ounce bottle will be $3.49, the company said.

https://www.cnbc.com/2020/06/25/stocks-making-the-biggest-moves-in-the-premarket-accenture-darden-mccormick-rite-aid-more.html

MKC

McCormick & Company

Stocks making the biggest moves in the premarket: Accenture, Darden, McCormick, Rite Aid & more

Take a look at some of the biggest movers in the premarket: Accenture (ACN) – The consulting firm beat estimates by 5 cents a share, with quarterly earnings of $1.90 per share. Revenue also came in above Wall Street forecasts. Revenue was down about 1% from a year ago, but Accenture's results were boosted by its growing digital and cloud services businesses. Darden Restaurants (DRI) – The parent of Olive Garden and other restaurant chains lost $1.24 per share for its latest quarter, smaller than the loss of $1.65 that analysts were predicting. Revenue was essentially in line with expectations, as was a same-restaurant sales decline of 47.7%. Darden said same-restaurant sales for the current quarter are down by 33.2%, with 91% of its dining rooms now open with at least limited capacity. FactSet (FDS) – The provider of financial markets information reported quarterly earnings of $2.86 per share, beating the consensus estimate of $2.43 a share. Revenue was slightly shy of forecasts. The company said the quarter was a strong one despite "challenging" circumstances. McCormick (MKC) – The maker of spices, condiments and sauces beat estimates by 31 cents a share, with quarterly profit of $1.47 per share. Revenue also beat forecasts helped by the pandemic-related increase in the number of consumers cooking at home. Rite Aid (RAD) – The drug store operator reported a quarterly loss of 4 cents per share, smaller than the 38 cents per share loss predicted by analysts. Revenue also beat expectations as same-store sales in the retail pharmacy segment rose 6.6%. Rite Aid withdrew its full-year forecast due to pandemic-related uncertainty. Blackstone (BX) – The private-equity firm was rated "buy" in new coverage at UBS, which notes strong growth, "robust" inflows, and "untapped channels" which will drive the next leg of growth. KB Home (KBH) – KB Home beat estimates by 6 cents a share, with quarterly earnings of 55 cents per share. The home builder's revenue missed Street forecasts. Sales were down 11% during the quarter, deliveries fell 10%, and net orders plunged 57%, as the coronavirus pandemic impacted business. Alphabet (GOOGL) – Alphabet's Google unit agreed to pay some publishers in Australia, Brazil and Germany for certain content, and said it expects to sign similar deals with others. Walt Disney (DIS) – Disney postponed the planned July 17 reopening of its Disneyland resort in California, saying it was waiting for state officials to issue guidelines on theme park reopenings. Separately, The Wall Street Journal reports Disney is considering delaying the planned July 24 release of its "Mulan" movie, due to uncertainty surrounding the reopening of movie theaters. Tesla (TSLA) – Tesla is planning a battery research and manufacturing facility in Fremont, California, according to city documents. Tesla already has what it calls a "small scale" battery-making operation in Fremont. Facebook (FB) – Baird Equity research raised its price target on Facebook to a Street-high $300 per share from $240 a share, based on an anticipated comeback in the digital ad market. BlackBerry (BB) – BlackBerry reported a quarterly profit of 2 cents per share, compared to consensus forecasts of a 2 cents per share loss. Revenue for the software maker was essentially in line with estimates, though demand for its automotive software was hurt by the Covid-19 pandemic. Ally Financial (ALLY) – The banking company called off its proposed acquisition of subprime credit card and consumer finance lender CardWorks. The $2.65 billion deal was canceled by mutual consent, due to the impact of the Covid-19 pandemic on the global economy. AbbVie (ABBV) – The drugmaker signed a drug discovery partnership with Japanese pharmaceutical company Sosei Group, initially focusing on inflammatory and autoimmune diseases.

https://www.cnbc.com/2020/02/06/jim-cramers-mad-money-recap-stock-picks-feb-6-2020.html

MKC

McCormick & Company

Everything Jim Cramer said about the stock market on 'Mad Money,' including market comeback, Cigna and McCormick executives

watch now CNBC's Jim Cramer explained why he thinks the stock market continues to rise, despite fears and uncertainty surrounding the coronavirus outbreak. The "Mad Money" host checked in with Cigna CEO David Cordani to get insight into how its multi-billion dollar merger with Express Scripts is panning out. Later in the show, he sat down with McCormick & Company CEO Lawrence Kurzius to understand why the situation in China could impact the company's bottom line. Wall Street rises Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters CNBC's Jim Cramer on Thursday broke down why he thinks investors are being "disciplined" and the stock market continues to rise because of it, despite uncertainties surrounding the coronavirus outbreak. Since the major indexes took a big plunge on Friday, the Dow Jones Industrial Average is now 520 points above its Thursday close. The S&P 500 is up almost 2%, and the Nasdaq Composite is up nearly 3% in that same period. "Flow of funds can be a fickle way to invest, but right now the market is anything but mercurial or arbitrary," the "Mad Money" host said. "It's redoubtable. It's implacable. It's resolute. To buy on weakness isn't a stooge thing to do; it's the stooges who don't do the buying." There are four reasons the market is going up, according to Cramer. Reaping benefits David Cordani, president and CEO of CIGNA Corp., appears on CNBC at the New York Stock Exchange, March 8, 2018. Brendan McDermid | Reuters Cigna CEO David Cordani took a victory lap more than a year after the health services group executed a controversial takeover of prescription manager Express Scripts. "We're proving the combination works. We're growing the company, as you noted," he told Cramer in an interview. "We increased our revenue guidance and our earnings guidance each of the last quarters of 2019 and we ended the year with another beat." Lockdown impact Lawrence Kurzius, CEO of McCormick. Adam Jeffery | CNBC Executives and investors are trying to gauge how the coronavirus outbreak could affect business in real time, and McCormick & Company head Lawrence Kurzius was candid on Thursday, saying, "It's hard to say that it's a positive." "Right now, it's hard to know the impact of the coronavirus in China. We have a large business in China," the chief executive told Cramer in a sit-down. "Part of it is supplying consumers, part of it is supplying restaurants. Consumers are not, you know, going out. A lot of the country's on lockdown." Cramer's lightning round

https://www.cnbc.com/2023/11/13/mcdonalds-and-crocs-to-release-shoes-inspired-by-grimace-hamburglar.html

MCD

McDonald's

McDonald's and Crocs are releasing a line of $75 shoes inspired by Grimace and the Hamburglar

McDonald's is entering the footwear game. The home of the McNugget this week is rolling out a line of custom-designed clogs in collaboration with Crocs. The fast food-inspired lineup will feature three classic Crocs and one Crocs sandal based on McDonald's mascots Grimace, Hamburglar and Birdie, as well as the chain's classic red and yellow color scheme. Also for sale will be a number of McDonald's-themed charms that can be attached to the clogs, including french fries, the Big Mac and the iconic Golden Arches logo. The shoes will be released on November 14, retailing for between $70 and $75. Matching socks for each pair of shoes will retail for $20. Customers will be able to buy them at Crocs retail locations and wholesale partners.

https://www.cnbc.com/2023/12/12/a-self-made-millionaire-shares-3-things-he-refuses-to-tip-onsome-people-may-disagree.html

MCD

McDonald's

Self-made millionaire who used to work at McDonald's shares 3 things he 'refuses' to tip on

One of my earliest jobs was working at McDonald's for $4 an hour grilling burgers in front of a hot stove while my manager yelled at me for not being fast enough. Today, I'm a self-made millionaire. But I've never forgotten how tough service jobs are, and I want to be generous with my resources while building wealth. Lately, though, I've noticed that tipping isn't really a voluntary demonstration of gratitude anymore. It's become a built-in expectation — and an expensive one. But you can shift your mindset to reward people for great service, while still protecting your finances. While some people may disagree, here are three things I refuse to tip on: 1. At a point of sale reader where no service is rendered Let's say you go to the mall and buy a pastry displayed at the front counter. The clerk uses a tong to place the pastry in a brown paper bag, punches the cost in the electronic kiosk, and spins it around to you. You see default tip options of 15%, 20%, 25% or no tip. I'll usually hit that no tip button or adjust the percentage to what I think is more reasonable. The same goes for coffee, unless I've developed a personal relationship with the clerk or they lift your spirits every morning. 2. Picking up a takeout order One of the more awkward tipping situations is when you get to a restaurant before your to-go order is ready. As you're sitting or standing around waiting, you might make some small talk with the person working there. When the bill finally comes, there's a check with the word "tip" underneath the total. What do you do? I rarely hesitate to cross a horizontal line across the tipping field. Given that no service was rendered, no tip needs to be paid. I shouldn't have to tip an employee for just smiling and saying "hi." Now, if I get to the restaurant early and the bartender welcomes me to sit down, pours me a glass of water, and serves me a side of bread and butter, a small tip is in order. 3. Paying a tradesperson for house repairs When a plumber, electrician, contractor or handyman comes to my house to fix something, even though they are providing a service, I don't tip. Tradespeople often charge a minimum visitation fee and an hourly rate. Depending on where you live, the hourly fee can be hundreds of dollars. When they provide you the bill, there is no line item for where to tip either. It also can be awkward for both parties to exchange cash in terms of a tip. Of course, if my plumber successfully fixes a leak that has bothered me for years, I do leave a generous tip!

https://www.cnbc.com/2023/10/30/mcdonalds-mcd-q3-2023-earnings.html

MCD

McDonald's

McDonald’s revenue climbs 14% as price hikes boost U.S. sales

McDonald's on Monday reported quarterly earnings and revenue that beat analysts' expectations as price hikes offset falling traffic to its U.S. restaurants. Despite higher menu prices in some regions, executives said that the burger chain is still beating rivals across most of its biggest markets when it comes to consumers' perception of value and affordability. "It's clear that our customers continue to seek reasonably priced meals as rising costs persist, and our markets around the world continue to respond," CFO Ian Borden told analysts on the company's conference call. Shares of the company closed up 1.7% on Monday. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: $3.19 adjusted vs. $3 expected Revenue: $6.69 billion vs. $6.58 billion expected The fast-good giant reported third-quarter net income of $2.32 billion, or $3.17 per share, up from $1.98 billion, or $2.68 per share, a year earlier. Excluding items, McDonald's earned $3.19 per share. McDonald's revenue rose 14% to $6.69 billion. Global same-store sales grew 8.8% in the quarter, beating StreetAccount estimates of 7.8%. The company's U.S. same-store sales increased 8.1%, fueled by strategic price increases. Executives said they expect pricing will be up about 10% for 2023, but third-quarter menu prices came down slightly. The chain also credited its marketing campaigns and digital and delivery orders for its sales growth. McDonald's U.S. traffic fell, marking the first quarter this year that the metric dipped. Across the restaurant industry, consumers making less than $45,000 visited less often, accounting for the drop in McDonald's traffic, according to CEO Chris Kempczinski. "We're just going to need to continue to keep a close eye on that $45,000 and under consumer because of the pressure that they're feeling there and make sure that we're offering value, but hopefully the industry stays disciplined as well on pricing," Kempczinski said. But McDonald's gained market share with middle- and high-income consumers, signaling that those diners are trading down from more expensive options. McDonald's menu prices in California will likely rise further next year as the minimum wage for fast-food workers rises to $20 an hour. In the long term, the chain thinks it can gain market share in California as a result of the higher wages. "We believe we're in a better position than our competitors to weather this, so let's use this as an opportunity to actually accelerate our growth in California," Kempczinski said. McDonald's international operated markets division reported same-store sales growth of 8.3%, boosted by strong demand in the United Kingdom, Germany and Canada. Borden said that the international division's traffic grew in the quarter, despite higher inflation in Europe. The company's international developmental licensed markets segment, which includes China and Japan, saw same-store sales growth of 10.5%. China's economy has been slow to bounce back from the pandemic, even after the country's government rolled back its Zero Covid policy in late December. McDonald's launched a campaign there highlighting burger deals to boost its business. Borden said the promotion drove "meaningful" customer demand and increased beef share in the market, where pork is the most popular meat. Kempczinski said in a statement that the broader economic environment is unfolding in line with the company's expectations for the year. McDonald's is scheduled to give an investor update Dec. 6 in Chicago. Executives said the presentation will include more information about its accelerated development plans.

https://www.cnbc.com/2023/10/29/mcdonalds-hr-exec-the-no-1-skill-you-get-working-in-fast-food.html

MCD

McDonald's

The No. 1 soft skill you get working in fast food 'can help you excel in any job,' says McDonald's HR exec

A successful career could start behind a cash register or at a drive-thru window. More than 3 million people work at fast food restaurants across the U.S., according to the latest numbers published by the Bureau of Labor Statistics. Fast food jobs are often misjudged as being low-skill and dead-end, but they can actually provide invaluable career experience, Tiffanie Boyd, McDonald's senior vice president and chief people officer for the U.S., tells CNBC Make It. Working in fast food offers opportunities to cultivate "critical soft skills" including time management, customer service, communication and adaptability, Boyd says. But the most important skill you develop as a fast food employee is learning to work quickly and efficiently under pressure. "You have to navigate a fast-paced environment and the tight deadlines and expectations that come along with it: getting orders out on time, managing an influx of customers," Boyd, 50, explains. She continues: "Once you get the hang of that skill, it can help you excel in any job, whether you're a software developer, leading a retail team or working in investment banking, because you're able to calmly process a lot of incoming information, take action quickly, and deliver some type of result." Dozens of notable business leaders, politicians, actors and more started their careers in fast-food restaurants, including Amazon founder Jeff Bezos, former President Barack Obama and multi-hyphenate star Queen Latifah. Peloton instructor Cody Rigsby landed his first job ever at McDonald's in Greensboro, North Carolina when he was just 16 years old. While celebrating the restaurant chain's "1 in 8" initiative in New York City on October 11 — a nod to the fact that one in eight Americans have worked at McDonald's — Rigsby said the job served as a crucial stepping stone in his professional development. "It was the first opportunity that gave me a strong work ethic and started me on my way to my career," Rigsby, 36, said. Two of the most important skills he learned while working at McDonald's, and has continued to apply in "every job" he's had since, are time management and compassion. "People notice when you're on time or early, it shows respect and that takes you a long way," Rigsby explained. "Also, when you work with a ton of different people, and treat them all with humanity, kindness and respect, it's noticed everywhere you go … take that skill with you, no matter how rich or successful you get." DON'T MISS: Want to be smarter and more successful with your money, work & life? Sign up for our new newsletter! As technology reshapes business expectations, some leaders are embracing change and transforming their organizations for the future. Join the CNBC Evolve Global Summit on November 2 to hear strategies to adapt, innovate and succeed in this new era of business. Buy your ticket here. Check out: McDonald's HR exec says to ignore this common piece of career advice: 'You might surprise yourself'

https://www.cnbc.com/2023/10/30/mcdonalds-chipotle-to-raise-california-menu-prices-as-fast-food-wages-rise.html

MCD

McDonald's

McDonald's, Chipotle to raise menu prices in California next year as fast-food wages rise to $20

McDonald's and Chipotle Mexican Grill will raise their menu prices in California next year to offset the state's minimum wage increase for fast-food workers, executives said as both chains announced quarterly earnings in recent days. McDonald's has not decided how much it will hike prices in California as workers' wages rise to $20 an hour, CEO Chris Kempczinski said Monday. Chipotle expects it will raise prices by a "mid-to-high single-digit" percentage in the state, but has not made a "final decision," its Chief Financial Officer Jack Hartung told analysts on the company's conference call Thursday. Restaurants have been hiking menu prices for more than two years in response to rising ingredient and labor costs. Prices for food away from home were up 6% in September compared to a year ago, according to the U.S. Bureau of Labor Statistics. While diners are already used to paying more for their meals, some have been eating out less often to mind their budgets. McDonald's executives said Monday that consumers making under $45,000 have been visiting less frequently, contributing to a dip in its U.S. traffic this quarter. In September, the restaurant industry and labor groups ended an expensive, monthslong battle over a bill that would have created a 10-person council that governs fast-food chains in California by setting guidelines for working conditions and wages. Instead, the two sides settled on a compromise: a nine-person council that only has the power to set the pay floor for the fast-food industry in the state through 2029. Chains with at least 60 locations nationwide will have to pay their workers at least $20 an hour, starting April 1. Between 2025 and 2029, the appointed council will have the authority to raise the hourly minimum wage annually by whichever is lower: 3.5% or the annual change in the consumer price index. For Chipotle, the new pay floor means it will hike its wages roughly 18%. Hartung said the chain's average wage in the state is currently $17 an hour. As wages rise, Chipotle customers will pay much more for their burritos and bowls in California, which is home to roughly 15% of Chipotle's restaurants — and the company's headquarters. The chain has already raised prices four times since June 2021. The most recent price increase of 3% happened earlier in October. At McDonald's, price increases will only be one method to offset the higher labor costs. The chain will likely also look at ways to improve productivity to cut restaurant-level costs, Kempczinski said Monday. Unlike Chipotle, which owns the overwhelming majority of its locations, most of McDonald's California locations are run by franchisees. They have the freedom to decide prices, although the chain provides advice on the best strategy. Just under 10% of McDonald's U.S. restaurants are located in California. The burger chain anticipates that operators there will feel the pain of the wage hike in the short term. "There will certainly be a hit in the short term to franchisee cash flow in California," Kempczinski said on the company's conference call, adding that it's unclear at this point how big the blow will be. The National Owners Association, an independent advocacy group of more than 1,000 McDonald's U.S. franchisees, projected the bill will cost each restaurant in the state $250,000 annually, according to a September memo viewed by CNBC. McDonald's, which dealt with franchisee backlash for its role in the compromise's negotiations, declined to comment at the time on the NOA's estimates. In the long term, McDonald's thinks that the higher wages could be a boon to its business. "We believe we're in a better position than our competitors to weather this, so let's use this as an opportunity to actually accelerate our growth in California," Kempczinski said. Don't miss these CNBC PRO stories:

https://www.cnbc.com/2023/09/22/mcdonalds-to-raise-royalty-fees-for-new-franchised-restaurants.html

MCD

McDonald's

McDonald's to raise royalty fees for new franchised restaurants for first time in nearly 30 years

McDonald's franchisees who add new restaurants will soon have to pay higher royalty fees. The fast-food giant is raising those fees from 4% to 5%, starting Jan. 1. It's the first time in nearly three decades that McDonald's is hiking its royalty fees. The change will not affect existing franchisees who are maintaining their current footprint or who buy a franchised location from another operator. It will also not apply to rebuilt existing locations or restaurants transferred between family members. However, the higher rate will affect new franchisees, buyers of company-owned restaurants, relocated restaurants and other scenarios that involve the franchisor. "While we created the industry we now lead, we must continue to redefine what success looks like and position ourselves for long-term success to ensure the value of our brand remains as strong as ever," McDonald's U.S. President Joe Erlinger said in a message to U.S. franchisees viewed by CNBC. McDonald's will also stop calling the payments "service fees," and instead use the term "royalty fees," which most franchisors favor. "We're not changing services, but we are trying to change the mindset by getting people to see and understand the power of what you buy into when you buy the McDonald's brand, the McDonald's system," Erlinger told CNBC. Franchisees run about 95% of McDonald's roughly 13,400 U.S. restaurants. They pay rent, monthly royalty fees and other charges, such as annual fees toward the company's mobile app, in order to operate as part of McDonald's system. The royalty fee hikes probably won't affect many franchisees right away. However, backlash will likely come, due to the company's rocky relationship with its U.S. operators. McDonald's and its franchisees have clashed over a number of issues in recent years, including a new assessment system for restaurants and a California bill that will hike wages for fast-food workers by 25% next year. In the second quarter, McDonald's franchisees rated their relationship with corporate management at a 1.71 out of 5, in a quarterly survey of several dozen of the chain's operators conducted by Kalinowski Equity Research. It's the survey's highest mark since the fourth quarter of 2021, but still a far cry from the potential high score of 5. Late Friday, The National Owners Association, an independent advocacy group of more than 1,000 McDonald's owners, sent out a memo to its membership regarding the news from corporate. The memo, viewed by CNBC, called Friday an "extremely hectic day" as U.S. owners woke up to emails from CFO Ian Borden and U.S. President Erlinger about the decision to increase service fees for new owners and reclassify the name to royalties. "Although McDonald's believes they have the right to make changes to their fee structure, franchise agreement terms and the conditions of engagement, these self-proclaimed rights do not establish that the changes are the right thing to do for the business, the relationship, or the future of our Brand," the memo said, adding that while system gross sales have increased to start this year, resulting in "record-breaking revenue" for corporate, the benefits are not evident in franchisee cash flow. The memo goes on, adding that franchisee restaurant cash flow has not kept pace with inflation, and that owners are flowing less money today than they were in 2010. "What's more, per restaurant EBITDA percent is crashing and will likely hit a 12-year low of around 12.25% in Q4, or certainly in 2024. In spite of the incredible sales growth the restaurants are driving, franchisees are making less money per restaurant today than they did in 2010," the memo states. The NOA memo also says the change in terminology from service fees to royalties is "very significant" and will have a key impact on the owners' "rights to receive the all-important services, support and assistance that McDonald's is now obligated to provide us," claiming it removes the company's duty to provide services. It urges owners to carefully review agreements received from the company and have an experienced attorney review them before executing, and says reinvestment decisions should be reconsidered, as those looking to open new restaurants will not have a "historical return" provided, due to the change. This is the latest outcry from owner advocates against corporate, as the NOA just last week sent out a communication to its members regarding California's AB 1228, claiming the legislation would have a "devastating financial impact" on operators in the state. McDonald's declined to comment on the NOA's position on both the service fee change and the California negotiations. Despite the turmoil, McDonald's U.S. business is booming. In its most recent quarter, domestic same-store sales grew 10.3%. Promotions such as the Grimace Birthday Meal and strong demand for McDonald's core menu items, such as Big Macs and McNuggets, fueled sales. Franchisee cash flows rose year over year as a result, McDonald's CFO Borden said in late July. The company said average cash flows for U.S. operators have climbed 35% over the last five years.

https://www.cnbc.com/2023/09/11/mcdonalds-to-start-focus-groups-with-owners-as-part-of-civil-rights-audit.html

MCD

McDonald's

McDonald's to start focus groups with owners as part of civil rights audit

McDonald's will begin virtual focus groups with some owners and operators as a part of an ongoing civil rights audit, according to a message to franchisees viewed by CNBC. The fast food giant retained WilmerHale law firm to conduct the examination of its practices, the memo said. Last year, shareholders approved of a proposal by SOC Investment group to conduct a civil rights audit in a close vote. At the time, SOC urged shareholders to back the measure ahead of the company's annual meeting, saying, "McDonald's plans do not adequately address the company's civil rights impact because it largely overlooks concerns with franchisees, which make up 95% of its U.S. restaurants." The audit aims to determine whether the company's policies have an adverse impact on McDonald's U.S. stakeholders, including franchisees, employees, suppliers and customers. WilmerHale will partner with Perception Strategies, a "nationally recognized research and consulting group focused on issues of identity, dignity, and belonging, to enhance our understanding of the experience of Owner/Operators across the country and to help the company continue to promote fairness and opportunity within our system," the memo said. "As part of this initiative, Perception Strategies will conduct a Climate and Belonging Assessment to gain deeper insights into the experiences of our U.S. Owner/Operators," the memo continued. The document added that the assessment would involve inviting randomly selected franchisees to participate in one-hour virtual focus groups about their experiences. The note also assured owners that neither McDonald's nor anyone employed by the company would participate in the groups or the selection process. The memo said the process is voluntary and identities would not be shared with McDonald's, and another notice said the groups would have no more than 12 people. An owner told CNBC that some franchisees were expressing concern about the 12-person panels and potential retaliation by the company. McDonald's said it has high corporate governance standards and a long history of being responsive to shareholders, and looks forward to reviewing the outcome of the WilmerHale audit. The process began last year following the 2022 shareholders' meeting and is now gathering feedback from a range of stakeholders. The audit comes as McDonald's has made changes to its franchising structure and restaurant grading system in recent years. In December 2021, McDonald's pledged to recruit more franchisees from diverse backgrounds, committing $250 million over the next five years to help those candidates finance a restaurant. Current and former Black franchisees have sued the company, alleging racial discrimination. One of the suits was dismissed, while an action brought by former MLB player Herb Washington resulted in a $33.5 million settlement from McDonald's. The company also faces two separate lawsuits from media mogul Byron Allen, alleging discrimination in its advertising practices. McDonald's has fired back against Allen in recent weeks, filing a motion for sanctions against the media companies owned by Allen. It claimed one of his suits was "frivolous" and "filled with allegations that he knows are false." The company has also committed to increase its advertising spending with Black-owned media from 2% to 5% of its ad expenses by 2024. In the filing responding to Allen, it said it was on track to meet those goals. Other major companies including Citi, Starbucks, Amazon and Airbnb have undertaken civil rights and racial equity audits in recent years, and last year Apple shareholders approved a proposal for a similar assessment. Correction: Amazon is holding an independent racial equity audit. An earlier version of this article misstated the nature of the audit.

https://www.cnbc.com/2023/10/24/ron-shaich-book-mcdonalds-tried-to-buy-panera-bread-5-other-reveals.html

MCD

McDonald's

McDonald's tried to buy Panera Bread, and 5 other reveals from founder Ron Shaich's book

Ron Shaich, founder and then-CEO of Panera Bread, in December 2017. Scott Mlyn | CNBC Panera Bread founder Ron Shaich uses his new book, "Know What Matters," to impart lessons learned from his decades in the restaurant business — and reveals some juicy details in the process. Shaich's book charts his entrepreneurial journey, starting with the general store at Clark University he founded as a student and ending with his decision to sell Panera for $7.5 billion in 2017. Along the way, Shaich turned Au Bon Pain from a nearly bankrupt bakery into a chain of bakery cafes, transformed the St. Louis Bread Company into fast-casual giant Panera, sold off Au Bon Pain and then turned Panera into a digital powerhouse that introduced free Wi-Fi, mobile and kiosk ordering and delivery years ahead of its rivals. But that's not all. Here are six of the most interesting reveals from Shaich's book, which hits shelves Tuesday: 1. McDonald's tried to buy Panera McDonald's expressed interest in buying Panera in the early 2000s, Shaich writes. He and his then-chief financial officer, Bill Moreton, met with McDonald's executives to hear about their proposal. The Panera team wasn't particularly interested in selling Panera at the time, as they had just divested Au Bon Pain to focus on the growing fast-casual chain. The meeting didn't change Shaich's mind, either. He writes that he wasn't impressed when one of the executives compared Panera with Donatos — a pizza chain that McDonald's ultimately ended up buying, along with Chipotle Mexican Grill and Boston Market. (McDonald's sold off those other chains several years later to focus on its core business.) 2. Shaich thinks of Howard Schultz as his 'frenemy' Howard Schultz, then-CEO of Starbucks, in 2015. David Ryder | Reuters Starbucks and Howard Schultz, the man who turned the small coffee chain into a global giant, are recurring characters in Shaich's book. While their menus overlap little, Shaich views Starbucks as Panera's closest competitor. He recounts some of Panera's strategic wins over Starbucks, such as offering free Wi-Fi while Starbucks still made its customers pay for access. "I thought of Schultz as my oldest 'frenemy' — the guy whose proverbial rear end I'd been chasing for three decades, ever since we met when Au Bon Pain was a handful of cafés in Boston and he had seven coffee shops in Seattle," Shaich wrote. Shaich also names Chipotle founder Steve Ells as another restaurant entrepreneur who saw the future of the industry and helped create the fast-casual segment. Ells, however, is spared the "frenemy" label. 3. Panera and Starbucks almost merged The McDonald's agreement never came together. But another deal for Panera almost made it to the finish line. Shaich and Schultz began working on a merger between Panera and Starbucks in 2016, he said. More than a decade after meeting with McDonald's, Shaich started seriously considering selling Panera as he prepared to step down from the business. He had previously retired, in 2010, but the decision didn't stick. Shaich writes in the book that he never really left, staying active as executive chair of the company, before he rejoined as a co-CEO in 2012. (Schultz has also had difficulty leaving Starbucks behind, twice returning to take the reins as chief executive again.) A Starbucks employee organizes salads and sandwiches. Jerry Cleveland | The Denver Post | Getty Images Schultz first proposed a partnership between Panera and Starbucks. Panera would make soup, salad and sandwiches for Starbucks cafes, while the coffee giant would supply Panera's bakery-cafes with coffee. But Shaich found the idea too complicated and instead proposed a merger. Ultimately, though, the deal fell through. Panera's stock was rising at the time, making the agreement too expensive, Shaich writes. He also says he thinks that Schultz's decision to step down as CEO in early 2017 probably played a big role in the decision. 4. The Obama administration offered Shaich a job Before becoming an entrepreneur, Shaich thought his career would be in politics. His political ambitions fell by the wayside as he turned Au Bon Pain and then Panera Bread into national chains. But those aspirations didn't disappear entirely. In 2009, the Obama White House called Shaich about a job in the administration. Coincidentally, Shaich received the call when he was getting ready to make his final speech at Panera's companywide meeting, known as the Family Reunion. Shaich writes that he knew at the time that he would retire, but he hadn't yet announced it. However, Shaich ultimately didn't end up in the Obama administration. "The White House job hadn't panned out — they needed to press forward before I was free …" he wrote. Instead, Shaich helped create No Labels, a political organization meant to support centrism and bipartisanship. The group has floated mounting a third-party challenge for the presidential election next year. 5. Panera's patent to review order accuracy by video Panera's yearslong transformation to prepare for the digital age didn't just include installing self-order kiosks and creating a mobile app. The strategy envisioned by Shaich also involved reconstructing its kitchen operations so employees could handle the swell of new orders quickly and accurately. Panera redesigned its kitchen layouts and processes multiple times to make sure that it worked. One change that came to kitchens was cameras. Shaich writes that Panera received a patent to use video to review the accuracy of sandwich orders. "At one point, I used to joke that Panera's production lines were among the most-watched TV, midnight to 8 a.m., in India," Shaich wrote. Today, cameras in kitchens aren't as novel. For example, startup Agot AI installs overhead cameras in restaurant kitchens and uses computer vision to scrutinize whether workers are preparing orders correctly. 6. Panera's enemy turned into Shaich's partner

https://www.cnbc.com/2023/11/09/mcdonalds-and-krispy-kreme-are-in-talks-to-expand-partnership.html

MCD

McDonald's

McDonald's and Krispy Kreme are in talks to expand partnership

Doughnuts are sold at a Krispy Kreme store on May 05, 2021 in Chicago, Illinois. The doughnut chain reported yesterday that it plans to take the company public again. Krispy Kreme said Thursday it's in talks to expand its partnership with McDonald's . The two restaurant companies began testing Big Mac eaters' appetites for doughnuts more than a year ago at a handful of McDonald's Kentucky locations. By March, the pilot had expanded to roughly 160 restaurants across Louisville and Lexington, Kentucky. The bigger test was meant to assess customer demand and to understand how a larger-scale launch would affect restaurant operations. McDonald's has been leaning into coffee — a common pairing with doughnuts — to encourage diners to visit more frequently. At the same time, the burger chain has been cutting back on its bakery items, like cinnamon rolls and blueberry muffins. And Krispy Kreme has been able to raise prices without hurting its sales because consumers are willing to splurge on affordable treats, such as fresh doughnuts. The discussions with McDonald's have touched on Krispy Kreme's ability to deliver its doughnuts fresh and on time, what scale is needed to expand beyond Kentucky, and the commercial viability of the partnership, incoming Krispy Kreme CEO Josh Charlesworth said on the company's conference call Thursday. He added that the company has learned consumers at fast-food restaurants behave similarly to those at Krispy Kreme's other retail locations. "We've seen that both the loose doughnuts and the pre-packed doughnuts are well received," Charlesworth told analysts, adding that those sales bolster the overall Krispy Kreme brand. Krispy Kreme uses a "hub and spoke" model that lets it make and distribute its treats efficiently. Production hubs, which are either stores or doughnut factories, send off freshly made doughnuts every day to retail locations such as grocery stores and gas stations. Shares of the doughnut chain were down nearly 7% in afternoon trading as the company's third-quarter earnings and revenue fell short of Wall Street's estimates. Including Thursday's tumble, the company's stock has risen more than 20% this year, giving it a market cap of $2.10 billion. Krispy Kreme also owns the late-night cookie chain Insomnia Cookies, although it announced in October that it's exploring strategic alternatives for that business. Don't miss these stories from CNBC PRO:

https://www.cnbc.com/2023/11/03/restaurant-stocks-mcdonalds-and-chipotle-could-be-due-for-a-pullback-after-the-markets-rally-this-week.html

MCD

McDonald's

Restaurant stocks McDonald's and Chipotle could be due for a pullback after the market's rally this week

The stock market is enjoying its best week of 2023, but some names may have gotten ahead of themselves. The Dow Jones Industrial Average is up 5% for the week. The S & P 500 and tech-heavy Nasdaq Composite are 5.6% and 5.8% higher, respectively, and are on pace for their highest weekly gains since November 2022. Several consumer names, including McDonald' s and Kraft Heinz , jumped on the back of their quarterly earnings reports this week. Other big names such as Airbnb , PayPal and pharmaceutical giants Pfizer and Amgen also reported their earnings and saw their stocks rise. That said, some stocks have become overbought during this week's rally — and could be due for a pullback. CNBC Pro screened FactSet to find the most overbought and oversold names in the S & P 500 based on their 14-day relative strength index, or RSI. A stock with a 14-day RSI greater than 70 is considered to be overbought and at risk of a pullback. A high RSI typically indicates near-term investor sentiment on a stock is becoming too optimistic. Conversely, a reading lower than 30 typically means a stock is oversold and may be ready to stage at least a short-term bounce, with a low RSI usually indicating souring sentiment around a stock. Here are some of the most overbought names. Fast-food giant McDonald's made the overbought list with an RSI of 80.16. Analysts estimate the stock has 14.7% upside potential, with about 64% of those covering the stock rating it a buy. Shares have jumped nearly 5% after it posted a quarterly earnings and revenue beat Monday. Although the company's U.S. traffic fell for the first time in 2023, it managed to gain market share among middle- and high-income consumers. Evercore ISI analyst David Palmer told CNBC's " Squawk on the Street " on Monday that McDonald's is in "a great spot competitively to continue to gain share" in both U.S. and important overseas markets, such as Europe. The stock has added just 1.9% year to date. MCD YTD mountain McDonald's stock Beverage company Coca-Cola was another one of the several consumer names on this week's overbought list. Coca-Cola has an RSI of 79.66 on the list. Three-fifths of analysts covering the stock rate it a buy and estimate 12.4% additional upside potential. The company managed to beat top- and bottom-line estimates in the third quarter and also raised its full-year guidance, coming on top of its rival PepsiCo. Although shares have managed to add more than 3% week to date, they remain down by more than 10% for 2023. Other overbought companies on the list include Monster Beverage and Keurig Dr Pepper , as well as restaurant groups Chipotle Mexican Grill and Darden Restaurants . Certain names could be primed for a bounce. Here are the 10 most oversold names in the broad market index: Several health-care companies were among this week's most oversold stocks. Catalent shares have tumbled more than 10% during the week, despite rallying 7.5% Friday. The biotech company has an RSI of just 10.52, and less than one-third of analysts covering the company have a buy rating on shares. Nonetheless, the consensus price target suggests shares could gain 47.1%. Moderna also had a strong week, rising nearly 8%, but still remains one of the most oversold stocks on the broad market index. The vaccine maker has an RSI of 14.28. Shares fell 6% Thursday following the company's earnings announcement . The company posted a loss for the third quarter amid falling demand for its Covid shots, its only marketable product. Shares have tanked nearly 57% year to date. Solar energy companies Enphase Energy and SolarEdge Technologies also made the list, with RSI scores of 15.8 and 18.47, respectively. The solar sector has struggled in 2023 due to a high rate environment hurting demand. SolarEdge offered weak fourth-quarter guidance Wednesday. Its third-quarter results also came in below expectations, which CEO Zvi Lando attributed to a "slow market environment," particularly in Europe. SEDG 1D mountain SolarEdge shares Revvity, Henry Schein, Align Technology and Fortive are some of the other oversold names from this week.

https://www.cnbc.com/id/37873721

MCK

McKesson

Lightning Round OT: National Grid, McKesson and More

National Grid : Cramer likes NGG, but he wants to research the company to make sure the dividend is safe before making a recommendation. McKesson : Cramer is bullish on MCK. Cheniere Energy Partners : Like Nationa Grid, Cramer wants to double check on the dividend before making a call. Call Cramer: 1-800-743-CNBC Questions for Cramer? madmoney@cnbc.com Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com