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https://www.cnbc.com/2023/09/28/thursdays-top-wall-street-analyst-calls-include-apple.html

TSCO

Tractor Supply

Here are Thursday's biggest analyst calls: Meta, Apple, Amazon, GE, Sunrun, Micron, Microsoft & more

Here are the biggest calls on Wall Street on Thursday: BTIG initiates FlyWire as buy BTIG said the future looks bright for the global payments and software company. " Flywire's early recognition of software driving value in payments has enabled it to drive ~50% annual gross profit growth over the past three years. Evercore ISI initiates Teradata as outperform Evercore said the software company has a competitive advantage. "While Teradata was initially slow to transition its data warehousing technology to the cloud, its platform has now evolved to a point where the company is more competitive in hybrid cloud environments." Citi reiterates Sunrun as buy Citi said it's bullish heading into Sunrun earnings later this quarter. "We believe FCF generation is more of a 2024 story as the benefits of component cost reduction will not meaningfully show up in financials this year. We believe RUN has higher inventory than its peers and will take longer to utilize the higher priced inventory." UBS initiates Duolingo as buy UBS said the ed tech company is "best-in-class." "We initiate coverage of Duolingo with a Buy rating and $195 Price Target. DUOL has a best-in-class brand within the language learning space which is still early in its online penetration ramp." Read more about this call here. Bank of America reiterates Meta as buy Bank of America said it's standing by its buy rating on Meta shares after the company's Meta Connect event on Wednesday. "Major announcements from the event included: 1) More details on the mixed Reality Quest 3 headset, 2) Reveal of Next-Gen Ray Ban Smart Glasses, 3) Launch of Meta AI." Needham reiterates Amazon as buy Needham said investors should buy any dip in shares of the e-commerce giant. "Buy AMZN on weakness owing to: a) no near-term impact on economics; b) Generative AI upside; c) ad growth; d) a forced split of AMZN would be positive for shares." Wolfe reiterates Boeing as outperform Wolfe said it's standing by its outperform rating on the stock. " Boeing stock is down nearly 20% from August highs on a confluence of factors including light 737 deliveries continued BDS woes and mgmt's conservative comments at recent conferences on 2024 FCF expectations." Bernstein initiates Thermo Fisher as outperform Bernstein said it sees margin expansion for the health-care company. "We believe Thermo's strength in the short- and long-term will drive revenue higher than consensus; greater sales force leverage from cross-sell drives higher operating margin." DA Davidson upgrades Tractor Supply to buy from neutral DA said in its upgrade of the farming retailer that shares are attractive. "We believe TSCO has an 'outstanding business opportunity', an 'enduring moat', 'exceptional financials', a 'shareholder oriented management', and a 'compelling risk/reward.'" JPMorgan upgrades Huntington Ingalls Industries to overweight from neutral JPMorgan said it sees a compelling entry point for the defense company. "HII is down 10% the past three months on little news, and while it has been a tough market for Defense stocks, we see this as an attractive entry point, with top line visibility, potential for margin self-help, and a pick up cash flow and cash return coming next year." Read more about this call here. DA Davidson names Microsoft a top pick DA added the tech giant to its top picks list. "We are adding Microsoft to D.A. Davidson's Best-of-Breed Bison list, established for businesses simple to understand, possess attractive economic characteristics and a strong moat, led by shareholder-oriented managers, and demonstrate exceptional financial performance." Evercore ISI reiterates Apple as outperform Evercore said that Apple has "significant iPhone pricing power." "We maintain our positive stance on AAPL post our survey of ~4,000 individuals regarding their iPhone purchasing intentions. In aggregate, iPhone unit demand remains solid, ASP's are shifting higher given SKU configurations. Wearables remains stable. Services seeing stability but modestly lower AppleCare attach is notable (weak macro?). JPMorgan upgrades DigitalBridge to overweight from neutral JPMorgan said the transformation is almost complete for the digital infrastructure company. "We are upgrading DigitalBridge to Overweight with a $25 price target. The company is largely through its transformation of the business to a focus on Digital Investment Management and simplifying operating results." Read more about this call here . Deutsche Bank initiates General Electric as buy Deutsche said in its initiation of the stock that the "cultural transformation continues." "GE is a beat and raise story with a catalyst rich outlook, deep moats, and a strong management team." Deutsche Bank adds a catalyst call buy on Emerson Electric Deutsche said the multinational company is undervalued and has significant momentum. " EMR' s operational execution improved significantly Q/Q last earnings season, and we expect continued strength in incremental margins to drive a beat vs. consensus." Goldman Sachs reiterates Micron as buy Goldman said it's standing by its buy rating on shares Micron after its earnings report on Wednesday. "Despite what now appears to be a slower than previously expected recovery in gross margins and EPS, our constructive thesis on the stock predicated on improving demand and supply discipline remains unchanged and, as such, we would view any pullback in the stock as an opportunity to add to positions." Bernstein reiterates Wendy's as outperform Bernstein said shares of the fast food company are extremely attractive. "While some are waiting for imminent catalysts, we believe Wendy's has already planted the seeds for acceleration, and with valuation close to its 5-year low, we struggle to see a better entry point to participate in Wendy's future growth."

https://www.cnbc.com/2017/08/21/bill-gates-better-technology-must-be-developed-to-help-educate-people.html

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Trane Technologies

Self-made billionaire Bill Gates: Better technology must be developed to help educate people

Through his largest donation in 17 years, Bill Gates recently reaffirmed his commitment to education last week when Bloomberg reported he was pledging $4.6 billion to his personal foundation. Gates has prioritized education reform and, more specifically, educational technology through the Bill & Melinda Gates Foundation — which last month received a $3.17 billion pledge from Warren Buffett — for years. Notably, he's been outspoken in the past that software companies must do more to help children learn more effectively with technology's aid. "It's amazing how little the typical classroom has changed over the years," Gates writes on his blog last year. In fact, he addressed the education-technology gap five years ago before an audience of top professors and researchers at the 2013 Microsoft Research Faculty Summit. "Software has only achieved a very small portion of what we want it to do and even what we need it to do," Gates says in a discussion on how computing can improve society. In a Reddit "Ask Me Anything" last year, he added: "A lot of the issue is helping kids stay engaged. If they don't feel the material is relevant or they don't have a sense of their own ability they can check out too easily. The technology has not done enough to help with this yet."

https://www.cnbc.com/2019/05/07/technology-could-widen-the-gender-employment-gap-imf-warns.html

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Trane Technologies

Technology could widen the gender employment gap, the IMF warns

Technology is often espoused as a great leveler, enabling sudden and sweeping economic progress for huge swathes of society. But it could also play a role in perpetuating a major societal divide: The gender employment gap. That's according to a new report from the International Monetary Fund, which found that women face a greater threat of losing their jobs to technology than their male counterparts. Up to 26 million women in major economies could see their jobs displaced within the next two decades, if technology continues at its current rate, the IMF found. That puts 11% at high risk (a 70% likelihood) of job disruption compared to 9% of men, which the report said could lead to a further widening of the pay gap between men and women. The disparity noted by the report is led primarily by occupational divides, which see women disproportionately represented in low-skilled, clerical and sales roles that are routine-heavy and therefore prone to automation. That's a result of both "self-selection" — women choosing certain professions — as well as exposure, the report said. "We find that women, on average, perform more routine or codifiable tasks than men across all sectors and occupations ― tasks that are more prone to automation," the report's authors wrote. "Moreover, women perform fewer tasks requiring analytical input or abstract thinking (e.g., information-processing skills), where technological change can be complementary to human skills and improve labor productivity," it added.

https://www.cnbc.com/2019/11/07/most-important-skill-you-need-to-succeed-at-work-has-nothing-to-do-with-tech-says-psychologist.html

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Trane Technologies

A psychologist shares the No. 1 skill you need to succeed at work: 'It has nothing to do with technology'

Technology has enabled workplace perks that often seem to make our jobs easier, like the ability to work remotely or the ease of sending someone a message via Slack, rather than having to track them down. But the most important skill you need in order to succeed has nothing to do with technology. Why? Because becoming too dependent on it to connect with others will ultimately lead to a lack of presence. Studies have found that being present and flexing your social intelligence is the foundation for all other skills at work — and it can help boost your career more than anything else. Showing up is key When you don't make an effort to physically be in the room, feedback gets misinterpreted, offering meaningful praise and insights to those around you becomes more challenging, and people aren't able to see how calm you remain in times of crisis or how helpful you are to new colleagues. The list goes on and on. More importantly, showing up allows you to start establishing "executive presence." It's a misconception that executive presence is about commanding a room. Power results from your ability to tune into the needs of the people around you — and in order to effectively decode the emotional clues your coworkers reveal daily, face-to-face time is required. Here are some essential tips on how to master the skill of being present: 1. Show up to meetings. If you're expected to be at a meeting, be there — and be on time. Consider taking handwritten so it's clear that you're fully engaged and not checking emails on your phone. If you need to dial in from a remote place, put your devices down and turn unnecessary alerts and ringers off. Then, pay attention and actively participate in the conversation. It's all too easy to zone out when you're not physically in the room. 2. Monitor your mood, facial expressions and body language. When you sit with a colleague or boss and actively pay attention with all your senses, an almost irresistible force takes place: Your presence brings the other person in, inviting them to sit up truly be in the moment with you. So remember to make eye contact, silence your internal chatter, listen deeply and relax into the moment. When you send the right signals, people will take notice of you and your work. As a result, your chances of getting a promotion or being chosen to lead a prime project will be much higher. 3. Make small talk. Initiating casual conversations, even if they're unrelated to work, can make a huge difference in establishing presence. Here's an example from my work as a clinical psychologist and executive coach: Jason, who works in commodities, received negative feedback during his performance review. People on the trading floor viewed him as self-involved, dismissive and arrogant. This shocked him. Digging deeper into the disconnect between his self-appraisal and how others viewed him, Jason related that he was actually very shy. He wasn't comfortable initiating conversation. Being very efficient, he also underestimated the value of a little small talk. I asked Jason if I could walk with him as he left his corner office to grab a coffee. As we walked, I saw that Jason was constantly looking at his phone. He made no eye contact and completely missed the efforts those around him were making to catch his attention. His colleagues read his oblivion as a personal snub. Being present demands that you slow down and invest a lot of time — but it will pay big dividends in the long run. So Jason decided to make some changes. Trips to the bathroom became opportunities to have chats — to actually see, speak to, and be present with others on the return journey. Equipped with a reminder to make small talk and learn about what his coworkers cared about, Jason's natural humor, once you got to know him, shone through. Now, when asked about him, the folks on the trading room floor describe him as a trusted ally. But what if you work remotely?

https://www.cnbc.com/id/38557022

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Trane Technologies

5 Energy Plays 'Making A Killing'

"We're now in a world where governments can't really afford to subsidize renewables, which means you can't afford to own any stock that depends on those subsidies," he said. "But there are plenty of companies in viable, non-government supported businesses that are making a killing by figuring out ways to reduce their customers' energy bills." Heating, ventilation and air conditioning companies, for example, have been profiting from a push toward home weatherization upgrades. Residential HVAC plays benefitted from the 'Cash for Caulkers' program, which helped homeowner pay to upgrade their heating and air condition units with more energy efficient ones. With a "huge" replacement cycle happening in the commercial markets, he recommends looking at Emerson Electric , which reported its climate technologies business was up 29%. Cramer also likes Ingersoll-Rand . He noted that after acquiring Trane in 2007, the Dublin, Ireland company made a "big move" into the commercial HVAC space. Where 45% of the company's 2009 revenues came from Trane, three-quarters were from the commercial space. Investors should also consider United Technologies , Cramer said. It's Carrier segment is the world's largest manufacturer and distributer of HVAC systems. Carrier represents 21% of UTX's sales and half of those sales come from the commercial markets. The Carrier division recently reported that organic sales were up by 7%, which is the best result since the fourth quarter of 2007. Sixty-five percent of Lennox International's sales comes from its HVAC business, Cramer noted. On July 27, the Richardson, Texas-based company reported a "terrific" quarterly earnings of 97 cents per share for a 12 cent beat on a stronger-than-expected rise in revenues and provided positive forecasts for both sales and earnings. Cramer's charitable trust owns Johnson Controls, which may be known as an auto parts play, but also gets 38% of its sales from HVAC systems. With the auto market turning around, he thinks this company could soon be "firing on all cylinders." "While conserving energy and managing power may not be the be 'all and end all' of these companies, I think it's the growth engine for all of them and that the businesses are just going to be bigger and bigger over time," Cramer said. "They aren't the needle movers yet, but by 2012 they should be." When this post was published, Cramer's charitable trust owned Johnson Controls. 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/2018/03/14/allen-institute-ceo-says-a-i-graduates-should-take-oath.html

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Trane Technologies

Expert says graduates in A.I. should take oath: ‘I must not play at God nor let my technology do so’

Oren Etzioni, photo courtesy Allen Institute for Artificial Intelligence "In the past, much power and responsibility over life and death was concentrated in the hands of doctors. Now, this ethical burden is increasingly shared by the builders of AI software," says Etzioni in a TechCrunch story published Wednesday. "Future AI advances in medicine, transportation, manufacturing, robotics, simulation, augmented reality, virtual reality, military applications, dictate that AI be developed from a higher moral ground today," he writes. Etzioni's proposed Hippocratic Oath, according to TechCrunch, is as follows: I swear to fulfill, to the best of my ability and judgment, this covenant: I will respect the hard-won scientific gains of those scientists and engineers in whose steps I walk, and gladly share such knowledge as is mine with those who are to follow. I will apply, for the benefit of the humanity, all measures required, avoiding those twin traps of over-optimism and uniformed pessimism. I will remember that there is an art to AI as well as science, and that human concerns outweigh technological ones. Most especially must I tread with care in matters of life and death. If it is given me to save a life using AI, all thanks. But it may also be within AI's power to take a life; this awesome responsibility must be faced with great humbleness and awareness of my own frailty and the limitations of AI. Above all, I must not play at God nor let my technology do so. I will respect the privacy of humans for their personal data are not disclosed to AI systems so that the world may know. I will consider the impact of my work on fairness both in perpetuating historical biases, which is caused by the blind extrapolation from past data to future predictions, and in creating new conditions that increase economic or other inequality. My AI will prevent harm whenever it can, for prevention is preferable to cure. My AI will seek to collaborate with people for the greater good, rather than usurp the human role and supplant them. I will remember that I am not encountering dry data, mere zeros and ones, but human beings, whose interactions with my AI software may affect the person's freedom, family, or economic stability. My responsibility includes these related problems. I will remember that I remain a member of society, with special obligations to all my fellow human beings.

https://www.cnbc.com/2018/01/12/loreal-ceo-jean-paul-agon-on-the-beauty-industrys-outlook-and-rise-of-digitalization.html

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Trane Technologies

L’Oreal CEO: Beauty’s future will be more about technology, quality, formulation and individualization

It's fair to say that digitalization has shaken up industries across the globe as of late. The technological age brings both advantages and disadvantages, whether that is concerns over automation or the shift of consumer spending to different sectors — it's a movement that's keeping business leaders on their toes. Chief executive of cosmetics giant L'Oreal Jean-Paul Agon welcomes digitalization with open arms, telling CNBC that he remains optimistic on what technology can bring. When it comes to predicting where the future of the beauty industry is going however, Agon admits that it's difficult to know specifically what's coming, yet in any case, he wants L'Oreal to stay informed and ahead of the curve. "We really believe at L'Oreal in science and technology," the CEO and chairman told CNBC, explaining how the cosmetics giant is currently spending a considerable amount of money on research and development. "I think the future of beauty will be more and more about technology, about quality, about formulation, about individualization, about digitalization, about responding to specific needs." Jean-Paul Agon, chief executive officer of L’Oreal SA Dhiraj Singh | Bloomberg | Getty Images Speaking on an episode of "The CNBC Conversation", the chief executive explained how the company had transformed over the past five to 10 years, when it comes to digital. According to Agon, L'Oreal was "the first in 2010 to perceive the digital tsunami" that would transform the beauty industry. "We have moved very fast, transformed the company very fast. We are considered today as the most advanced, digitally advanced company in the beauty industry and we want to keep this advantage," Agon said, adding that the cosmetics group was "working on all fronts" to maintain its speed. Commenting on two specific developments, L'Oreal's boss discussed how consumers were becoming more interested in products containing natural ingredients, in addition to the rise of personalization. "We are even launching some new products that are, I would say, almost 100 percent natural. Natural ingredients, natural formula, has biodegradability, recycling and recycled packaging," Agon explained. When it comes to personalization and digitalization, not only has the group acquired a number of brands to expand its portfolio in international markets, L'Oreal has also showcased a number of products that are customized to consumers' tastes. I think that we're entering into a new world and it's going to be fascinating. Jean-Paul Agon L'Oreal CEO and chairman At the 2017 Viva Technology conference, L'Oreal unveiled Lancôme's Le Teint Particulier custom made foundation, technology which "precisely matches" the make-up to a person's skin tone. The French corporate also showed off the world's "first" smart hairbrush, the Kérastase Hair Coach. L'Oreal recently introduced Makeup Genius, a virtual makeup tester app as well. And it's not the only one seeing these topics as popular trends to look out for. In Mintel's "Global Beauty and Personal Care Trends 2018" report, the market researcher pinpointed a number of subjects that would end up having an impact on the industry going forward. "The beauty and personal care market will experience a fundamental shift during 2018," said Vivienne Rudd, director of global innovation and insight for beauty and personal care at Mintel, in a statement published in November. "In the coming year and beyond, the beauty industry will navigate the conflicting demands of the 'naturals-hungry' consumer with shrinking natural resources and it will be through harnessing biotech advantages that a new generation of enhanced natural products is created."

https://www.cnbc.com/2017/03/14/bill-gates-main-use-for-technology-is-surprisingly-old-school.html

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Trane Technologies

Bill Gates' main use for technology is surprisingly old-school—and everyone can learn from it

From artificial intelligence and virtual reality to gadgets that simply make life more convenient, technology can do some amazing things. But tech titan Bill Gates' main use for technology is surprisingly old-school: "One of my favorite ways to use technology is to learn," he tells Axios in a recent interview. "It's not really cutting-edge anymore, but I still think it's mind-blowing that you can learn about any subject online through education courses and videos. … Some of the work we do at the [Bill & Melinda Gates] Foundation involves advanced science, like coming up with new vaccines or health interventions, so I use technology a lot to watch lectures and learn from experts."

https://www.cnbc.com/2019/01/10/elon-musk-tweet-future-tesla-roadster-will-fly-thanks-to-spacex-tech.html

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Trane Technologies

Elon Musk tweet: Future Tesla Roadster will fly thanks to SpaceX tech

To-do list, if you are Elon Musk: Replace petroleum-powered cars with electric Teslas. Build a city on Mars with SpaceX. Construct tunnels under Los Angeles to alleviate traffic congestion with The Boring Company. Connect the human brain to computers via Neuralink. And now there's another to-do: Build flying Roadsters with rocket technology. So says the billionaire tech CEO via Twitter. On Wednesday, Musk tweeted a GIF of a car levitating, with blue light shooting from its wheels. With the animation he wrote, "the new Roadster will actually do something like this." The Roadster is Tesla's highest end supercar, with prices starting at $200,000, according to the Tesla website. The new Roadster will actually do something like this Technology YouTuber Marques Brownlee responded, "The thing is I feel like you're not joking." To which Musk replied, "I'm not. Will use SpaceX cold gas thruster system with ultra high pressure air in a composite over-wrapped pressure vessel in place of the 2 rear seats." I'm not. Will use SpaceX cold gas thruster system with ultra high pressure air in a composite over-wrapped pressure vessel in place of the 2 rear seats. A Tesla with rocket technology would also be able to accelerate very quickly, according to Musk. "You can basically accelerate at the limit of human endurance," he says. Plus, you can basically accelerate at the limit of human endurance Tesla has nothing to add to Musk's tweet, a spokesperson for Tesla tells CNBC Make It. But this is not the first time Musk has talked about flying Teslas. In 2017, Musk teased the possibility. "Not saying the next gen Roadster special upgrade package *will* definitely enable it to fly short hops, but maybe … Certainly possible. Just a question of safety. Rocket tech applied to a car opens up revolutionary possibilities," he tweeted that November. Musk is not alone in his pursuit of flying vehicles. Google co-founder Larry Page is also pursuing flying cars with Kitty Hawk, in which he is an investor. In February, Kitty Hawk CEO Sebastian Thrun told CNBC that flying cars could be in the air within five years. A flying car, reviewed: We test the Kitty Hawk Flyer—the kind of electric vertical-takeoff-and-landing vehicle that could soon fill the skies "The reality is if you look at transportation as a whole, most of it stays on the ground. And the ground is very capacity limited… when you go in the air, the air is mostly free. And you are now at a point where we can make air-based transportation, like daily transpiration, safer, faster and also more cheaper actually, environmentally friendly, than on the ground," Thrun told CNBC at the World Government Summit in Dubai. What are you up to today? However, Musk's own The Boring Company, which is currently digging tunnels under Los Angeles, communicates skepticism: "To alleviate traffic...[o]ne option is to 'go up' with flying cars. However, flying cars have issues with weather, noise, and generally increase anxiety levels of those below them," the company's website says. See also: Flying cars will be in the air within five years, CEO of Larry Page-backed firm says Elon Musk teases flying cars: 'Rocket tech applied to a car opens up revolutionary possibilities' Larry Page's newest flying car is fit for one and operated by joystick

https://www.cnbc.com/2018/05/30/facebook-ceo-mark-zuckerberg-defends-teslas-elon-musk-on-car-tech.html

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Trane Technologies

Mark Zuckerberg comes to Elon Musk's defense on self-driving car technology

Mark Zuckerberg and Elon Musk have a testy history of disagreeing about the potential for artificial intelligence, with Zuckerberg as the optimist and Musk as the prophet of doom. But on Thursday in Paris at the Viva Technology conference, Zuckerberg ducked an opportunity to disagree with the Tesla and SpaceX boss, instead focusing on an area where the two tech titans have similar perspectives. "I actually think that recently, I have heard Elon making a lot of the same points on this that I have been trying to make for a long time," says Zuckerberg, responding to a question about Musk's vocal skepticism about the future of AI. "He has had a number of real incidents around car accidents. And he has had to deal with this issue, where you have a lot of AI critics who come out and say, 'Hey, is this too dangerous?'" says Zuckerberg. "And I think he is making a point that I really agree with on this, which is that, look, over the long term, if we can get to a state where we have good self-driving cars — you know, one of the leading causes of people dying is car accidents — and if we can get to a state where we have good self-driving cars, then that is going to potentially massively reduce one of the leading causes of death and is a very important humanitarian thing that needs to done," Zuckerberg says. Indeed, in May, the driver of a Tesla Model S had the car's semi-autonomous Autopilot mode engaged when she slammed in to the back of a fire truck in suburban Salt Lake City. The driver broke her foot. And in March, a Tesla Model X that was involved in a fatal car accident near Mountain View, Calif., had its Autopilot system activated. In fact Tuesday, days after Zuckerberg commented, a Tesla sedan in Autopilot mode crashed into a parked police cruiser in Laguna Beach, California. The Tesla driver "suffered minor injuries," according to a report from the Associated Press. And May 2018 report from the U.S. Department of Transportation National Highway Traffic Safety Administration projects that 37,150 people died in traffic crashes in 2017. (This projection is set to be revised as data continues to become available, the NHTSA says.) Facebook chief Zuckerberg did not specify which of Musk's comments he was referring to, but Musk recently tweeted his frustration with the media coverage of the Salt Lake City accident. It's super messed up that a Tesla crash resulting in a broken ankle is front page news and the ~40,000 people who died in US auto accidents alone in past year get almost no coverage What's actually amazing about this accident is that a Model S hit a fire truck at 60mph and the driver only broke an ankle. An impact at that speed usually results in severe injury or death. Musk acknowledged his Autopilot system needs to be improved, but he said using the system was safer than not. It certainly needs to be better & we work to improve it every day, but perfect is enemy of good. A system that, on balance, saves lives & reduces injuries should be released. It seemed to be that sentiment Zuckerberg was defending in Paris. "Now, are there going to be issues along the way? Of course there are. No technology comes out fully formed and we need the pioneers to be able to go work on this and take the issue seriously in order to be able to make forward progress and get to the state that we want," says Zuckerberg. "But the point that I have heard him make recently, which I really agree with and I have been trying to make for a while, is that we need to make sure that we don't get too negative on this stuff, because it is too easy for people to point to an individual failure of technology and try to use that as an argument to slow down progress." Zuckerberg says those who protest the implementation of artificial intelligence because of individual incidents during the developmental phase are getting in the way of important advancements. "Fundamentally, I just think AI is going to unlock so much good around helping to cure diseases, to keep people safe, to keep our communities safe. And I do think that if you want to be out there saying that we need to slow down progress on this, then I think if you are doing that, you need to own some of the responsibility that every day that goes by that we don't have cures for those diseases, or safer self-driving cars, you know, I don't know that that is necessarily doing the world a service," says Zuckerberg. "That's my own personal stance. I am very optimistic on this, but we need to take the issue seriously which I do think the industry is and make sure that we move forward towards this greater good." Zuckerberg's careful move to find common ground with Musk contrasts sharply with his language about Musk last summer. In July 2017, Zuckerberg hosted a Facebook live one Sunday afternoon while he was smoking meat in his backyard in Palo Alto, California. A user submitted a question, which Zuckerberg read out loud: "I watched a recent interview with Elon Musk and his largest fear for future was AI. What are your thoughts on AI and how it could affect the world?" Musk, earlier that month, had said that AI will cause massive job disruption, that robots "will be able to do everything better than us." He also said: "I have exposure to the most cutting edge AI, and I think people should be really concerned by it. AI is a fundamental risk to the existence of human civilization." To that negative perspective, Zuckerberg had harsh words. "I have pretty strong opinions on this. I am optimistic," says Zuckerberg. "I think you can build things and the world gets better. But with AI especially, I am really optimistic. "And I think people who are naysayers and try to drum up these doomsday scenarios — I just, I don't understand it. It's really negative and in some ways I actually think it is pretty irresponsible," Zuckerberg said at the time. At the time, Musk clapped back, undercutting the Facebook chief's understanding of the full potential of artificial intelligence. "I've talked to Mark about this. His understanding of the subject is limited," Musk tweeted at the time. See also:

https://www.cnbc.com/2016/11/02/this-bracelet-uses-russian-cosmonaut-technology-to-help-reduce-stress-through-breathing.html

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Trane Technologies

This bracelet uses Russian cosmonaut technology to help you reduce your stress

Nora Levinson is a mechanical engineer who lived and worked in China for about five years helping consumer brands including Jawbone, Skullcandy, and Incase design and manufacture their products. It was stressful. Really stressful. She was almost always working. And so when Levinson watched the first generation of wearable technology come into the marketplace, all largely designed to count steps and track various fitness metrics, she didn't see what she was looking for. She wanted a product that would help her deal with her elevated levels of work-induced anxiety. Moderating "stress was definitely a very personal need for me," says Levinson, in a conversation with CNBC. "Living and working in China before I moved back to the states, it was a 24-7, always on at the factory, and that was something that I struggled a lot with." She and her then colleague and now co-founder, David Watkins, decided to build the wearable they wanted. Called the Sona, the stylish bracelet has an accurate heart-rate monitor built in. The accompanying iPhone app takes users through paced breathing and meditation exercises, and measures their ability to calm their heart-rates and stress levels in real time. It's designed to help keep the type-A, productivity-obsessed mind from wandering. Sitting in a quiet space and trying to find zen on command can be a real challenge for modern workers. "All of a sudden, your to-do list comes up, you start thinking about all the emails you have to answer," says Levinson. "This is a very focused technique to learn and had very quantifiable feedback in the moment as well as, over time, to show progress." Levinson has been able to significantly improve her own ability to focus by using the bracelet and learning how to use her breath to control her heart rate. When she first starting wearing the Sona bracelet, she could only focus at about a level "20," as measured by the app. Now she can pretty consistently get up to a level of focus measured at "70 or 80." The Sona bracelet. Courtesy of Caeden Learning to control stress through breathing has made it easier for Levinson to make decisions efficiently. "[If] I am in a stressful meeting or there are a lot of opinions, I can navigate that in a way that is very calm and rational. It is easier to concentrate as well without getting distracted or anxiety about other things I need to work on," says Levinson. "I can definitely count myself as someone who is a poster child for someone who has been rehabilitated." The path to breath control by way of the Russian cosmonaut program Levinson and Watkins's first company together, ADOPTED, manufactures luxury cases and accessories. In 2014, they founded Caeden, the New York City-based company that manufactures the Sona bracelet. Their first product on the market was a stylish set of headphones called the Linea. When the pair decided to start thinking about a wearable device that would help them manage stress, Levinson started reading research papers voraciously. One pair of names kept coming up over and over again: a husband and wife team Dr. Evgeny Vaschillo and Dr. Bronya Vaschillo. Levinson reached out to the Vaschillos who, it turned out, were working at Rutgers University, very close to New York City. They met and started what would turn out to be the collaborative partnership to launch Sona. Dr. Evgeny Vaschillo was a leader within the Saint Petersburg Board of Public Health through the 1960s and 1970s and Dr. Bronya Vaschillo is a physician. The Sona bracelet has a hyper-sensitive heart rate monitor. Courtesy of Caeden Dr. Evgeny Vaschillo spent decades researching heart rate variability, which is the time in between the beats of your heart. The pace of your breath in and out directs the speed of your heartbeat, so by controlling your breath, you can control the speed of your heart and therefore affect your body's response to stress. Vaschillo researched the science of heart-rate variability on behalf of Russia as a way to monitor the stress levels of cosmonauts, since their EKG reports were sent down from space. The heart-rate variability research developed for the cosmonauts was eventually used in military applications by fighter pilots and submarine pilots. It was also eventually used as a stress reduction and recovery mechanism by the Russian Olympics team. To be sure, there is no way to avoid stress. Whether you are under a tight deadline at work or running away from a predator, the body will get stressed. That's normal. The problem, explains Levinson, is in remaining in a state of high stress for prolonged periods of time. That will do damage to your body on a physical level. Confronting wearable fatigue Levinson is aware that she is getting into a crowded space and coming up against some consumer fatigue. Who wants another wearable device that only sort of works and will eventually end up in a junk drawer when it gets dusty? Do anyone really need another app on their phone that gives more data that they don't know what to do with? But to hear her tell it, for the wearables industry, 2016 is still early days. And while the novelty factor of getting a piece of wearable tech may have faded, there is still excitement for wearables that make a real difference in a user's quality of life.

https://www.cnbc.com/2016/10/18/us-election-chills-aerospace-business-moving-to-mexico.html

TDG

TransDigm Group

US election chills aerospace business moving to Mexico

"Many U.S. suppliers have recently been moving aircraft parts production and assembly to Mexico as a way of lowering their cost base," Canaccord Genuity aerospace analyst Ken Herbert said in a recent research note. "The potential impact on U.S.-Mexico relations under a [Donald] Trump presidency are a material concern." For more than a decade, Mexico has aggressively pitched itself as a pro-business and lower-cost alternative for U.S. industrial companies seeking to relocate or expand. Canaccord Genuity estimates Mexican facilities allow some U.S. companies to achieve a labor savings of as much as 80 percent. Talk of trade protectionism this presidential season is having a chilling effect on U.S. aerospace companies looking to locate production south of the border. U.S. companies or their contractors with an industrial presence in Mexico include Fortune 500 names General Electric , Honeywell , Eaton , Textron , L-3 Communications and Rockwell Collins . Even major suppliers to aerospace giants Boeing and Europe's Airbus have operations in Mexico. Privately held Icon Aircraft recently announced plans to open a composite air-frame components plant in Tijuana, Mexico, where it eventually expects to employ as many as 1,000 workers. The Vacaville, California-based manufacturer of the A5 light-sport aircraft plans to have the Mexico plant operational next month. Still, experts say the influx of aerospace companies into Mexico has started to moderate and some blame the U.S. election. "Right now they are a little bit on hold," said Isaias Rivera, marketing coordinator of American Industries Group in Guadalajara, Mexico. American Industries Group assists U.S. companies establish manufacturing or distribution operations in Mexico. Rivera said potential customers are generally "not taking positions right now" out of fear the next U.S. president could change the 1994 North American Free Trade Agreement. Indeed, Rivera said the firm postponed a Mexico business seminar it holds annually in the U.S. "because we were not having the response that we usually have. They are waiting for the elections to see what happens." The automotive industry — another major industry with operations in Mexico — appears to holding up better. "Aerospace has been decreasing compared to other years and auto has increased," said Rivera. Trump, in remarks last month during the first debate with Democrat Hillary Clinton, called NAFTA "defective" and "one of the worst things that ever happened to the manufacturing industry." Clinton, meanwhile, has shied away from fully embracing NAFTA and has been critical of the Trans-Pacific Partnership and China, including need for "a trade prosecutor." "While pushback on the Trans-Pacific Partnership could have some implications for aircraft sales into the Asia region, we do not view this as a significant risk," said Herbert. "Some speculate that the lack of the TPP could ultimately help Airbus gain share as the perception of Boeing is negatively impacted in the Asia region, but it is early to make this call." Still, the supply chain situation presents vulnerabilities to the aerospace industry due to the extensive nearshoring, or manufacturing in Mexico for the U.S. market. Some of the companies with operations in Mexico warn about the risks in their annual 10-K filings with the Securities and Exchange Commission. "A number of risks inherent in international operations could have a material adverse effect on our results of operations," TransDigm Group said, citing among other things currency fluctuations, trade policies and political uncertainties. The Cleveland-based company, which lists Boeing and Airbus as its two top customers, operates two industrial plants in Mexico. According to Canaccord's Herbert, the relocation of manufacturing "is often done with the encouragement and direct support of Boeing." As an example, he estimates some commercial program suppliers such as TransDigm, Triumph Group , Esterline Technologies and Ducommun have production in Mexico that accounts for as much as 10 percent of total manufacturing capacity. CNBC reached out to the suppliers for comment but they declined comment or didn't respond. "While sales are typically in U.S. dollars, and each of these suppliers uses some hedging to limit the FX risk, the risk of incremental costs, or a deterioration of U.S.-Mexico trade relations are a concern," Herbert said. Most of the American companies have facilities in aerospace and defense industry hubs where there's a growing labor force of engineers for everything from assembly work and manufacturing to repair, maintenance and design. "In order to fully develop its A&D industry, the Mexican government paid attention to the talent management and established many research centers and institutions to serve the industry and enhance its current situation in the A&D industry," PricewaterhouseCoopers' Mexico unit said in a report last year. In all, about 300 foreign companies have operations in Mexico and more than three-fourths of them are American, according to PwC. As of 2014, nearly 30 percent of the aerospace work was concentrated in the Mexican state of Baja California, where an aerospace forum is scheduled next week in Tijuana to promote the region's manufacturing prowess. The Mexican central state of Queretaro is where GE has an advanced engineering center that employs 1,800 Mexican engineers to design products, solutions and software for aviation, power and other sectors. Another aerospace cluster is in the Mexican border state of Chihuahua, where Textron does work on airplanes and helicopters.

https://www.cnbc.com/2021/03/30/freelancing-females-facebook-group-includes-52k-members-during-covid.html

TDG

TransDigm Group

How one Facebook group is helping 52,000 women navigate freelancing during the pandemic

Women's careers have long been disproportionately hurt by economic and cultural forces, and many say it's gotten worse as a result of the pandemic. For more than a year, countless reports have highlighted women's overrepresentation in service industries disrupted during the coronavirus outbreak, their likelihood to carry a greater share of household responsibilities and the ongoing child-care crisis that's led to record numbers of women forced out of work. Still, as the economy has recovered for some workers, many women, and particularly women of color, face higher rates of unemployment and long-term joblessness. In the absence of being able to meet in person, many have turned to online communities for job leads and, perhaps more importantly, support and connection through it all. One such place is the Facebook group Freelancing Females, started by social media and marketing consultant Tia Meyers in 2017. At the time, Meyers, who lives in Brooklyn, N.Y., launched the group to get advice on how to navigate a nonpayment issue with one of her freelancing clients. Over time, she recognized the forum was a good way for women freelancers to connect with one another over job opportunities, pay and how to navigate the expanding freelance and gig economy. Women turn to freelancing during the pandemic But in March 2020, Meyers, now 30, saw firsthand how pandemic closures were impacting women when the group fielded around 2,000 requests within the first two weeks of widespread lockdowns. She tells CNBC Make It women from around the world were stating that they had lost their jobs and were hoping to use their skills through freelance projects, or they were already self-employed and needed to find new clients after others had canceled their contracts. Others, still, said they were turning to freelance work as an alternative to a 9-to-5 job they could no longer balance with new child-care and home-schooling responsibilities. In these stories, community member Carey Jordan, 34, of Richmond, Va., saw herself. She had joined the group in mid-2019 after she quit her newsroom job that kept her on-shift until 2 a.m. Her schedule made it difficult to hire a nanny to watch her toddler son, and she found her workplace wasn't able to accommodate her needs as a single mom to a young child. Tia Meyers, founder of Freelancing Females, and community member Carey Jordan Jonathan Grado/Carey Jordan Jordan thought of quitting and freelancing on her own as a last resort. "I realized I needed to put money on the table, and so for me that meant becoming a freelancer," she says. However, "I didn't have anyone around me that freelanced, and I didn't know what to expect of the experience." After scrolling through Facebook, Jordan came to the Freelancing Females group with the hopes of learning the ropes of 1099 work. She was surprised by how much of a sense of community she felt, not only among those familiar with the ins and outs of freelancing, but also among other young working moms. They just "got it," she says, like understanding the pull between being an all-star mom versus an all-star employee, or even that networking at after-hours events just wasn't possible. "In the beginning, I noticed the water cooler vibe, and just having other people to talk to," Jordan says. "It became this space of, 'Hey, I'm really struggling. Can someone help me understand how to navigate this?'" The active community members were always quick to respond and lend their support. That engagement has only become more urgent in the last year of the pandemic. A global community of women and allies The Facebook group is now 52,000 global members strong, including people with skills in design, illustration, photography, marketing, writing and more. Meyers says group members range from PR consultants to artists to yoga instructors. She adds the group is an open place for cisgender women and transgender, nonbinary and gender-fluid members, as well as male allies. Group conversations are often focused on the many roles freelancers have to take on as their own business entity, as well as the added challenges of living, working and parenting during a pandemic. Daily messages bounce between the professional and the personal, especially as boundaries have blurred during the pandemic. Some discussions can be deeply personal, such as with freelancers working toward financial security after leaving an abusive relationship. "We're here to help no matter what," Meyers says of the Freelancing Females discussions in the last year. "That ranges from discussing mental health issues, what to charge a client, how to fire a client. We're also there for mothers who need to connect with each other, or someone's feeling isolated because you can't leave the house during a pandemic. In the last year, it's been really incredible to see this community and platform grow." Of course, freelancing may provide accommodating hours for women, especially moms, to continue working throughout the pandemic, but many have to go without the employer-sponsored benefits that are crucial during a global health crisis, including paid time off and health insurance. Given these challenges, Meyers says the best way employers who partner with women freelancers can support them is to be transparent about their pay practices. For those who aren't, Meyers adds that Freelancing Females members are quick to chime in with their own pay and negotiation stories when called for. Impact beyond online connections

https://www.cnbc.com/2016/05/31/early-movers-cag-wr-vz-sbux-mdt-mu-viab-tdg-baba-more.html

TDG

TransDigm Group

Early movers: CAG, WR, VZ, SBUX, MDT, MU, VIAB, TDG, BABA & more

A trader works on the floor of the New York Stock Exchange. Check out which companies are making headlines before the bell: ConAgra — ConAgra and activist investor JANA Partners amended their existing cooperation agreement, with the foodmaker's board agreeing to nominate JANA designees Bradley Alford and Timothy McLevish as directors. The agreement also retains various standstill provisions for JANA. Separately, a Barron's article said ConAgra shares could rise up to 30 percent, as the food company sells businesses, improves existing brands, and lowers expenses. Westar Energy — Westar, the largest electric utility in Kansas, is being bought by Great Plains Energy , the parent of Kansas City Power & Light. The deal is worth $8.6 billion in cash and stock, or about $60 per share, about 13.4 percent above Friday's close. Verizon — Details of the tentative deal between the telecom giant and its unions have been released, with the pact giving pay raises of more than 10 percent and includes 1,400 new jobs. Starbucks — The coffee chain announced a rollout of a new portfolio of cold coffee beverages, which will become the foundation for a new "cold bar" at Starbucks stores. Medtronic — The medical products maker reported adjusted quarterly profit of $1.27 per share for its latest quarter, 1 cent a share above estimates. Revenue also came in above forecasts. However, Medtronic does see fiscal 2017 profit of $4.60 to $4.70 per share, largely below the consensus estimate of $4.70 a share. Micron Technology — Baird upgraded the chip maker's stock to "outperform" from "neutral," based on improving profit margins, a better cost structure, and price stabilization in the memory chip market, among other factors. Viacom — Viacom independent directors say they will fight any attempt to remove them from the media company's board of directors, should controlling shareholder Sumner Redstone attempt to oust them. The board members wrote a letter to shareholders, also saying the assertion that Redstone is mentally competent is "inexplicable." TransDigm Group — TransDigm will join the S&P 500 after the close of trading on Thursday. It will replace drug maker Baxalta , which is being acquired by Shire . TransDigm is a maker of aircraft components. Volkswagen — Volkswagen surprised analysts by reporting an increase in first-quarter profit. The automaker earned $3.8 billion for the quarter, up slightly from a year earlier. Consensus forecasts had called for a 17 percent drop in the wake of the company's diesel emissions scandal. Mondelez — Mondelez is developing more mobile apps based on its products following the success of an Oreo cookie-themed game. That game has been downloaded approximately seven million times since it was introduced 3½ years ago. Alibaba — The China-based e-commerce company told vendors to stop selling drugs on its Tmall website because of government rule changes in China. Oracle — Oracle and Hewlett Packard Enterprise head to court today in a dispute over Oracle's alleged role in the decline of Hewlett-Packard's hardware business prior to the spinoff of Hewlett Packard Enterprise and HP Inc. Apple — Apple may extend its iPhone model update schedule to every three years, according to an article in Japan's Nikkei newspaper. Celator Pharmaceuticals — Celator will be bought by Jazz Pharmaceuticals for $30.25 per share in cash, or about $1.5 billion. That represents a nearly 73-percent premium over Friday's close for Celator shareholders. Monsanto — The agricultural chemicals and seeds maker may get an improved buyout bid from Germany's Bayer as soon as this week, according to the Sunday Times. Monsanto rejected Bayer's $122 per share offer last week. Williams Cos. — Williams has told Energy Transfer Equity that it is open to considering a new bid from its rival pipeline company, in an effort to end a legal dispute between the two over terms of their previously struck $20 billion takeover deal.

https://www.cnbc.com/2022/01/28/rihanna-jack-dorsey-donated-15-million-to-climate-justice-groups.html

TDG

TransDigm Group

Rihanna’s foundation donated $15 million to climate justice groups – and Jack Dorsey joined in, too

Rihanna, the singer and CEO of Fenty Beauty, may not have a lot in common with former Twitter CEO Jack Dorsey. But the two entrepreneurs have found common ground in philanthropy, using their wealth to support people left vulnerable by climate change. This week, Rihanna's Clara Lionel Foundation (CLF) joined forces with Dorsey's #StartSmall initiative to donate a combined $15 million to 18 different climate justice groups. The grants will go to organizations "focused on and led by women, youth, Black, Indigenous, people of color and LGBTQIA+ communities" in the U.S. and Caribbean. "At the [CLF], much of the work is rooted in the understanding that climate disasters, which are growing in frequency and intensity, do not impact all communities equally, with communities of color and island nations facing the brunt of climate change," Rihanna said in a statement. The organizations receiving the money each aim to support communities of color, especially on island countries, that are particularly vulnerable to the effects of climate change. The Caribbean Youth Environment Network, for example, advocates for youth employment and better water resource management among Caribbean communities. [tightened] In a tweet on Wednesday, Dorsey lauded Rihanna's CLF, saying the foundation does "incredible work." This isn't Dorsey's first collaboration with Rihanna. Since the beginning of the pandemic, #StartSmall and CLF have donated roughly $57 million to similar causes, as well as natural disaster preparedness resources, rental assistance for low-income families and services for domestic violence victims and survivors, according to Dorsey's public spreadsheet tracking his initiative's donations. Rihanna founded CLF to "support and fund groundbreaking education and climate resilience initiatives" in 2012, according to the organization's website. One of its first initiatives, which launched a year after the foundation began, raised $60 million for women and children affected by HIV/AIDS through sales from the singer's lipstick line with MAC Cosmetics. In 2020, it raised $36 million for organizations on the frontlines of the Covid-19 pandemic and another $11 million for programs trying to reform the police and criminal justice systems. "My money is not for me; it's always the thought that I can help someone else," Rihanna told CNBC Make It in 2019. "The world can really make you believe that the wrong things are priority, and it makes you really miss the core of life, what it means to be alive." Dorsey started #StartSmall LLC in April 2020 to "fund global Covid-19 relief" and "girl's health and education, and universal basic income." He funded the initiative with $1 billion in shares from his fintech company Block, formerly known as Square, which he founded in 2009. At the time, that amount accounted for 28% of the tech giant's net worth. According to Dorsey's spreadsheet, his initiative has donated over $448 million to more than 250 organizations, including NYU's Cash Transfer Lab, Water.org and the Malala Fund. And there's more money allocated to #StartSmall, as the initiative still has more than $1.8 billion worth of Block shares left to give away. "The needs are increasingly urgent, and I want to see the impact in my lifetime," Dorsey tweeted at the time. "I hope this inspires others to do something similar. Life is too short, so let's do everything we can today to help people now." Sign up now: Get smarter about your money and career with our weekly newsletter Don't miss: Paris Hilton has invested in crypto since 2016 — here’s why she’s betting big on NFTs and the metaverse MacKenzie Scott gives another $2.7 billion: Put the spotlight on the organizations, not me

https://www.cnbc.com/2016/08/19/hedge-funds-love-these-20-stocks-and-they-are-crushing-the-market-goldman-says.html

TDG

TransDigm Group

Hedge funds love these 20 stocks, and they are crushing the market, Goldman says

Hedge funds are struggling overall this year, but the stocks most-owned by the smart money is still outperforming the market soundly, according to Goldman Sachs' latest "Hedge Fund Trend Monitor" report. "The strategy of buying the 20 most concentrated stocks has a strong track record over 15 years," Goldman Sachs' Ben Snider wrote in the note to clients Thursday. "The [Goldman hedge fund high concentration] basket is on pace to post its fifth straight year of leading the S & P 500 by more than 400 bp." Goldman defines "concentration" as the percentage of a stock's market capitalization owned "in aggregate" by hedge funds. The firm found the strategy of buying the top 20 stocks with the highest concentration of hedge fund ownership beat the S & P 500 by 10 percentage points a year on average since 2001. The basket is outperforming the market by 11 percentage points this year. Here are the 20 stocks in Goldman's hedge fund high concentration basket. The four new additions to the high concentration basket in the June quarter are Advance Auto Parts , Ball Corp. , TransDigm and United Continental . Visitors browse at the display of Expedia during the International Tourism Trade Fair in Berlin. Fabrizio Bensch | Retuers

https://www.cnbc.com/id/100866021

TDG

TransDigm Group

Early Movers: S, ZNGA, DIS, TDG & More

These stocks are moving before the bell on Friday: Sprint — Multiple reports say the FCC has unanimously cleared Softbank's proposed acquisition of the majority of Sprint shares, as well as the Sprint proposal to buy the portion of Clearwire that it doesn't already own. Zynga — Zynga will give its new chief executive Don Mattrick a pay package worth about $50 million – mostly in stock-related compensation – in the coming years. An SEC filing shows Mattrick will get a base salary of $1 million in his first year, along with a signing bonus of $5 million and a 2013 bonus of $2 million. Buffalo Wild Wings — The restaurant operator's stock was upgraded to "buy" from "hold" at Miller Tabak, citing lower operating costs as well as lower prices for chicken wings. Walt Disney — Disney is seeing a holiday disappointing at the movie box office, with "The Lone Ranger" performing below expectations and raising the possibility that Disney could lose money on the $225 million film. TransDigm — TransDigm declared a special dividend of $22 per share, which will be payable on July 25. TransDigm is a maker of aircraft components and made the move in an effort to boost shareholder returns. Nokia — Standard & Poor's downgraded Nokia's debt rating one notch, after the company bought out the share held by Siemens in their networking equipment joint venture. S&P cites negative free operating cash flow prospects, although it did term Nokia's outlook "stable". Marathon Oil — Bank of America/Merrill Lynch downgraded the oil company's stock to "neutral" from "buy". Mead Johnson Nutrition —The stock was downgraded to "equal-weight" from "overweight" at Morgan Stanley, which points to pricing headwinds for the provider of pediatric nutrition products.

https://www.cnbc.com/2021/04/14/freelancing-females-the-no-1-piece-of-advice-for-new-freelancers.html

TDG

TransDigm Group

The first thing to do if you're starting a freelance side hustle, from this 52,000-person freelancing group

When Tia Meyers was still new to freelancing, she had a nonpayment issue with one of her clients and wanted to know how other freelancers had navigated the problem. She posted the question to Facebook and was floored by the response — both by how common the issue was, and by how many people were willing to offer their advice. She realized the potential for an online forum and launched Freelancing Females in 2017 for women freelancers to connect with one another over job opportunities, pay and how to navigate the expanding freelance and gig economy. In the years since, the Facebook group has swelled to 52,000 global members, with increasing activity during the pandemic. In a year with competing demands that disproportionately forced women out of the labor force, some came to Freelancing Females to find a new source of income and with absolutely no previous experience with 1099 work. She told CNBC Make It what she wants every new freelancer to know. Start with a solid contract For freelancing newbies, Meyers has one main piece of advice: Always have a contract in place for scope of work. This document lays out in writing what you'll deliver, the timeline, your rate and payment terms, deadlines, an indemnity clause to protect against loss or liability and more. Meyers suggests new freelancers find a lawyer to draw up this contract; if you don't have the funds to hire a lawyer, she also suggests using a template from resources like The Freelancers Union as a jumping off point to create your own. Cities and states may have their own policies to protect freelance workers and could impact your contract or serve as the basis of your agreement. In New York City, for example, all contracts worth $800 or more must be in writing and include the work you will perform, the pay for the work and the date you get paid. You can also ask around in your online communities for localized recommendations or resources that can help you draw out a contract, Meyers adds. Make the most of an online community

https://www.cnbc.com/2021/01/15/january-15-last-day-stimulus-payments-before-tax-season.html

TDG

TransDigm Group

January 15 is the last day for stimulus payments before tax season—unless you're part of these groups

Friday, Jan. 15 is the last day for many taxpayers to receive a direct deposit stimulus payment before tax season, unless you are part of a few select groups. Don't miss: The best cash-back credit cards with no annual fee Congress gave the IRS until Jan. 15 to send out the economic impact payments (EIP), worth up to $600 for individuals and their child dependents, when it approved a second round of checks in late December. And while the agency says 100 million payments have been delivered, a few hiccups over the past few weeks will delay the payments for some taxpayers. Those affected by the IRS account mix-up (mainly people who filed their 2019 returns via tax software from TaxAct, Jackson Hewitt and others) and those receiving paper checks or pre-paid debit cards may still receive their stimulus payments in the coming weeks. The IRS is advising taxpayers to watch their bank accounts and mailboxes closely. The debit cards will be mailed in a white envelope with the U.S. Treasury Department seal. Taxpayers can determine how their EIP will be delivered by using the IRS "Get My Payment" tool. All other eligible taxpayers who have not received a direct deposit and are not part of those groups will need to claim a Recovery Rebate Credit on their 2020 tax returns. The IRS announced Friday that it is pushing back the start of tax filing season to Feb. 12 (typically, the agency starts processing returns in late January). The IRS is advising people to file electronically and opt for direct deposit in order to get their checks as quickly as possible.

https://www.cnbc.com/id/41352956

TDG

TransDigm Group

Stocks Add to Gains Before Close; Energy Up

Stocks added to gains in the final minutes of Monday's session as investors came back to stocks after a sharp sell-off on Friday, but yet kept an eye on events unfolding in Egypt. The Dow Jones Industrial Average rose more than 55 points Monday after falling 1.4 percent on Friday. The S&P fell 1.8 percent that day, its worse decline since August 11. Among Dow components, Alcoa , Exxon Mobil and Chevron advanced, while Procter & Gamble and Intel fell. The S&P 500 rose about 0.50 percent, while the Nasdaqadvanced slightly. The CBOE Volatility Index, widely considered the best gauge of fear in the market, fell to under 20. The VIX skyrocketed nearly 24 percentFriday as the crisis in Egypt flared, its biggest daily spike since May 20, according to Schaeffer's Investment Research. Among key S&P sectors, energy, materials and industrials gained, while consumerstaples fell. Investors remained concerned that unrest in Egypt could spread to the rest of the Middle East, although analysts have said fears are already priced in after stock markets tumbled on Friday. Still, Moody's cut Egypt's credit rating, citing government spending in the wake of the crisis. As stocks rose, the flight to safe-haven assets also eased. The price of gold fell more than 6 percent to $1,333.8 an ounce and U.S. bond prices declined. The dollar, meanwhile, fell against a basket of currencies. Bond prices fell as investors took profits. Oil prices, meanwhile, rose above $90 a barrel. The market "is amazingly resilient," Jeffrey Saut, chief market strategist at Raymond James, told CNBC.com. "After what happened on Friday you would have expected a second shoe to fall." But, Saut said, the markets had been due for a correction for sometime, and had been indicating one was on the way. After the sell-off, however, the market is no longer "overbought," he said. Saut remains bullish and one of his favored sectors are banks, which he had not bought for 10 years until last November. Since then, banks, as measured by the Financial Select SPDR Fund , have risen more than the S&P 500 on a relative basis. "I think that is extraordinarily positive for the equity markets and the economy," he said. The turmoil in Egypt, combined with good earnings results from Exxon Mobil, means commodities and cyclically-oriented companies, particularly in the materials and energy sectors, are poised to do well, Burt White, chief investment officer at LPL Financial told CNBC.com. But the cross-current the market is trying to figure out, White said, was how several major snowstorms will affect the economy, especially as another storm is forecast to hit a broad swath of the country later this week. "We think it will be more substantial than people think," he said. "What the market is trying to figure out is how much is old news, and how much is a speed bump on the recovery." White expects the market has gotten ahead of itself, and is still due for "a little bit of a pullback here, or consolidation, as the market comes to grip with the snowstorms, and increased geo-political risks from around the world." But he added that a 3-to-5 percent pullback will be an opportunity to buy as the Federal Reserve continues to provide stimulus to an economy that is already on the mend. White said the S&P 500 could hit 1,400 before it pulls back again in the second half of the year. Banks were among the better performing sectors on Monday, as the sector continued to show signs of improvement. A senior loan officer survey from JPMorgan, for instance, indicated that banks "continued to modestly ease lending standards." The report said this was particularly true for commercial and industrial loans and consumer loans, while standards for residential mortgage loans tightened. "The easing in lending standards for business and consumer loans has been ongoing for much of the past year; what was different about today's figure was the reported uptick in loan demand," JPMorgan said in a note. "The demand for consumer loans, commercial real estate loans, and C&I loans were all at their highest level since 2005." Aetna traded flat after news a Florida judge struck down the healthcare law. Overall, health care stocks didn't move much on the news, while the sector was up slightly for the day. Energy stocks were among the best performing sectors throughout Monday's session, advancing in the wake of better-than-expected earnings from Exxon Mobil. The oil giant reported earnings of $1.85 a share, thanks in part to strong gains in natural gas production. Other natural gas producers also rose, including Chesapeake Energy, Devon Energy and EOG Resources. Imperial Oil also reported better-than-expected results. Anadarko Petroleum reports after the market closes, and BP reports earnings on Tuesday. Meanwhile, Massey Energy soared more than 10 percent Monday after Alpha Natural Resources agreed to buy the rival coal producer for $7 billion. The news lifted most stocks in the coal sector, including Arch Coal , International Coal Group , and Natural Resources Partners . Intel shares resumed trading after they were temporarily halted before the chipmaker reported it was cutting its first-quarter sales forecastby $300 million to pay for a fix of a design problem in a recently released "support" chip. The total costs to repair and replace the chip is about $700 million, Intel said, according to Reuters. In some cases the serial-ATA (SATA) ports within the chipsets may degrade over time, causing SATA-linked devices such as hard disk drives and DVD drives to malfunction, Intel said in a press release. The news lifted shares of rival chipmakers, including Advanced Micro Devices . Elsewhere in technology news, Baidu.com , a Chinese-language Internet search provider, rose ahead of reporting earnings after the market closes.

https://www.cnbc.com/2020/08/20/workers-find-community-in-digital-unemployment-groups.html

TDG

TransDigm Group

'It's like group therapy:' Workers find community in digital unemployment groups

The past five months have been lonely for Taylor Clifford. The 29-year-old moved to Phoenix a few years ago for work. Most of the friends she'd made in the area, she says, were her coworkers, which suited her just fine. But in March, like tens of millions of other Americans, Clifford was furloughed from her job as an events planner and confined to her apartment, where she lives alone. Without coworkers to talk to in person and with no work to keep her occupied, the months of isolation have been difficult, Clifford says. "I've been trying to stay positive, but it does start to wear on you after a while," she tells CNBC Make It. While most of her furloughed coworkers have families to lean on during tough times, she does not. "If I can't pay my rent, it's my fault. I can't reach out to people and ask for help." Adding to her stress is the fact that Congress has not extended the enhanced unemployment benefits that were helping her stay afloat. Receiving the extra $600 per week in federal aid at the beginning of the pandemic was a "saving grace," she says. Now, she's used up her savings and is worried about how she will pay her bills going forward. A Facebook group for unemployed workers has helped keep her sane. The group, Unemployed Action, which has over 15,000 members, is one of dozens that have sprung up in recent months to help members make sense of states' antiquated UI systems and keep up with news on whether the benefits will or won't be extended.

https://www.cnbc.com/2024/01/10/india-boycott-of-maldives-may-cost-country-millions-in-tourism-dollars.html

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Social media uproar may cost the Maldives millions, as feud with India intensifies

Social media posts by Maldivian officials may cost the country millions in tourism revenue, as calls by Indian travelers to boycott the island nation intensify. "We are seeing a 40% drop in bookings over the last two days," Ankit Chaturvedi, vice president and global head of marketing at the India-based travel software company Rategain, said Tuesday. "Most people book on weekends, and therefore the drop seems more significant because ideally [bookings] should have gone up," he told CNBC Travel. Travel bookings to the Maldives tumbled following a diplomatic row that erupted last week after a series of posts appeared on X, formerly known as Twitter, on India Prime Minister Narendra Modi's account. The posts showed him snorkeling, sitting by the water and meeting people in Lakshadweep, which some viewed as a veiled attempt to siphon visitors away from the island nation. Amid reports that thousands of Indian travelers have canceled trips to the Maldives, one prominent Indian travel booking website, EaseMyTrip, announced it is suspending flight bookings from India to the Maldives. Some travel agents in India say they are canceling bookings to the Maldives, scrubbing their websites of its photos, and recommending travelers go to the Indian archipelago of Lakshadweep, the Andaman Islands, Nicobar Islands or Sri Lanka instead, according to The India Express. The dispute has thrust a global spotlight on the little-known Lakshadweep, which like the Maldives, is a scenic chain of sandy atolls, coral reefs and crystalline water. The Maldives, located some 340 miles to the south, is the preferred playground for India, however. In 2023, more than one in 10 arrivals were from India, making it the country's largest source market, followed by Russia and China, according to Maldives tourism statistics. But more British travelers — and nearly twice as many Italians — have visited the Maldives in the first week of January, compared to those from India, which fell to fourth place in terms of visitor arrivals.

https://www.cnbc.com/2023/12/28/where-to-travel-in-2024-here-are-five-spots-to-avoid-crowds-.html

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Want to avoid crowds while traveling? Here's the 'not hot' list for 2024

Tired of the usual sights or craving a break from the travel herd? These five travel spots may be the getaway you're looking for. Adventure travel company Intrepid Travel's new "Not Hot" list is out — spotlighting overlooked travel spots around the world. The company's annual list attempts to combat overtourism by helping travelers "beat the crowds and ... inspire them to seek out different and unique experiences around the world in communities that can truly benefit from visitors," Matt Berna, president of the Americas at Intrepid Travel, told CNBC Travel. The 2024 list calls attention to two destinations in Asia, two in Europe and one in Central America. Corsica Corsica, a mountainous Mediterranean island and territorial collectivity of France, is a self-proclaimed "Island of Beauty." Corsica, France. Source: Intrepid Travel Unlike Italy's tourist-saturated Positano, travelers visiting Corsica can "enjoy a more authentic, tranquil, and immersive experience ... without the overwhelming crowds," according to a press release by Intrepid Travel. But the island's allure extends beyond its coastlines. Corsica is also known for its 180 kilometer (112 mile) hiking trail — the GR20 — and numerous historic landmarks, France's tourism website showed. The island is home to six nature reserves, including the Scandola Nature Reserve — a UNESCO World Heritage Site renowned for its red volcanic rocks. Corsica's "unique blend of natural beauty, cultural richness, and historical significance ... sets it apart from popular destinations like Positano," according to Intrepid. Seoul Tokyo, Singapore and Seoul are the three most visited Asian cities in 2023, according to market research company Euromonitor International. Seoul, Korea. Source: Intrepid Travel Tokyo welcomed 31.8 million international tourists in 2019, according to the Japan National Tourism Organization. In the same year, 17.5 million international tourists visited Seoul, Korea, statistics by the Korea Tourism Organization showed. "Tokyo has been a popular travel destination for a long time, so its product offerings are more varied, attracting a larger spectrum of audiences especially families and more mature travelers," Nick Lim, Asia CEO of The Travel Corporation, told CNBC. Tokyo's bookings from January to November 2023 rose by 234%. But Seoul's popularity is rising. This year, flight bookings to Seoul increased 191% — double that of 2022, a representative at Trip.com told CNBC Travel. "Younger travelers may choose Seoul over Tokyo because the city offers a mix of traditional and modern culture," Lim said. The rise of Korean pop music and dramas have also boosted the city's appeal, he added. Nonetheless, Seoul and Tokyo remain vastly different. Both cities are "culturally rich with authentic and unique experiences ... the choice between them ultimately depends on individual preferences and interests," Lim said. Panama Panama, a Central American country bordered by Costa Rica and Colombia, is home to one of the world's most sophisticated engineering works — the Panama Canal. The Panama Canal in Panama, Central America. Gonzalo Azumendi | Stone | Getty Images The city has five UNESCO World Heritage Sites — two archaeological sites, Panama Viejo and Casco Antiguo, and three national parks, the Coiba, Darien and La Amistad national parks. Intrepid Travel recommends Panama for those who wish to "immerse themselves in local traditions, folklore, and contemporary arts ... that differs from the more European-centric cultural landscape," the press release stated. Beyond historical sites, seven indigenous communities reside in Panama. Two of which — the territories of Guna and Emberá — are open to tourists, according to Panama's official tourism website. Kefalonia to Corfu Greece is known for its beaches, coastal caves and island hopping. But away from Santorini and Mykonos, the islands from Kefalonia to Corfu are "a serene haven for travelers seeking a tranquil escape," according to Intrepid. Corfu, Greece. David C Tomlinson | The Image Bank | Getty Images Kefalonia and Corfu are two of the largest islands in the Ionian Sea, while 12 others are scattered across the west coast of Greece. The Ionian Islands' "unspoiled landscapes and pristine beaches ... offers a serene haven for travelers seeking a tranquil escape, unlike the more crowded destinations" like Split and Dubrovnik in Croatia, Intrepid Travel's press release stated. Borneo Borneo, an island in Southeast Asia, is divided among three countries — Malaysia, Brunei and Indonesia. Kalimantan, the Indonesian region of the island, takes up two-thirds of the island, while the Islamic country of Brunei lies between two Malaysian states — Sarawak and Sabah. Borneo, an island in Southeast Asia, has the Malaysian states of Sabah and Sarawak, Indonesian's Kalimantan and Brunei. Source: Intrepid Travel

https://www.cnbc.com/2022/06/15/travel-costs-are-up-but-travelers-arent-canceling-their-plans-yet-.html

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Travelers are upset about rising costs, but most aren't canceling their plans just yet

In this article MAR MA EXPE ZETA Follow your favorite stocks CREATE FREE ACCOUNT Summer travel talk sure isn't what it used to be. Rather than sun, sand and surf, many travel discussions now center on inflation, rising fuel costs and flight cancellations, a situation which could derail a much-needed 2022 summer travel comeback. Travel conversations on Twitter decreased 75% from April to May, while discussions related to gas prices and travel — half of which were negative — climbed 680% on the website from the winter months into the spring, according to the social media analytics company Sprout Social. Yet despite the potential problems ahead, the outlook for summer travel remains strong, said industry insiders, with many travelers saying they're concerned but undeterred about their upcoming plans. Are travelers canceling plans? No, said James Thornton, CEO of Intrepid Travel, a Melbourne-based travel company which focuses on small group adventure vacations around the globe. He said the company hasn't seen higher cancellation rates this summer. "In the last few months, global concerns about shortages, sanctions and higher costs have had economists sounding alarms," said Thornton. "Despite the rise in costs, travel bookings have more than doubled." watch now David Mann, chief economist at the Mastercard Economics Institute, said higher prices won't stop travelers this summer, especially in parts of the world that have recently reopened, such as Asia-Pacific. "Think of it literally like a pressure cooker where you are lifting up the lid and the steam is coming out hot," he told CNBC's "Squawk Box Asia" in May. Inflation "does matter, but that's only after we've had some of that release of the pent-up demand." A new survey indicates Singaporeans, for example, aren't willing to sacrifice their summer travel plans in the face of rising costs. Despite 77% indicating they were either "extremely" or "very" concerned about rising costs, nearly 40% more people plan to travel this summer than in the last, according to a Tripadvisor Travel Index released in May. Nearly two in three Singaporeans said they'd be willing to spend less on dining out and clothing to fund their travel too. Conversely, travel resiliency may be less robust in places where pent-up demand has dissipated some, such as Europe and North America. According to a March survey published in the Country Financial Security Index Report, nearly a quarter (23%) of Americans indicated plans to cancel or put off travel plans in response to inflation. Still, Americans are expected to travel in large numbers this summer. More than half (55%) say they're traveling for the Fourth of July holiday, according to a survey by the travel website The Vacationer — an 8% increase over last year's survey, the company said. Changes, not cancellations "More people are pivoting their plans to accommodate price hikes and additional costs, rather than canceling [travel] altogether," said Eric Bamberger, senior vice president of hospitality at the marketing technology company Zeta Global. Demand for "pampering" travel, such as spas, is rising, while interest in "educational" travel to museums and national parks is down by more than 50%, according to a Zeta Global company representative. Car rentals are declining, with rental rates dropping the fastest in the United States in places where gas prices are highest, such as California, Oregon and Washington, according to Zeta Global. However, "hotels are on fire," said Bamberger. "Some hotels in Las Vegas are at 95% occupancy rates, and this past Memorial Day was the best ever recorded day — revenue-wise — for many of the top hotel chains in the U.S." 'Still going to travel' Rising costs are affecting travel expenditures this summer, with 74% of American consumers actively searching for ways to save on travel, according to Zeta Global. Nearly one in four say they are seeking out cheaper transportation, hotels or vacation destinations, according to the company. But Expedia CEO Peter Kern told CNBC that other travelers are ready to spend more to travel. watch now "We all know there was lots of pent-up savings and underspend during Covid on services and travel," he said. "So far it seems to be bearing out, that people are interested in spending — and if anything, spending more." When asked about reports that people are opting for cheaper vacations, he said: "We haven't that so far … particularly in the middle and upper end of the market." Kern said if inflation starts to affect travelers, he agreed they will likely change, but not eliminate, their plans. "If anything, perhaps travelers take a little bit off what their ambition is — of where they were going or what they were staying in — but they're still going to travel," he said. 'Gangbusters' summer Marriott CEO Anthony Capuano said the company, which operates in nearly 140 countries according to its website, is now seeing strong demand not just from leisure travelers, but also from group and business travelers. "We think the summer is going to be gangbusters," he told CNBC's "Squawk on the Street" in May. "We feel great about this summer." After two consecutive months of negative demand, business travel interest in the United States increased by 365% in May, according to Zeta Global, which tracks website usage as well as location and transactional data from credit card and loyalty program purchases. Business travel is increasing faster among younger travelers than older, senior-level ones, according to Zeta Global. Goodlifestudio | E+ | Getty Images

https://www.cnbc.com/2022/11/22/tickets-on-the-orient-express-are-sold-by-two-companies.html

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Two companies have luxury trains called the 'Orient Express.' Here are the differences

The "Orient Express" has been called the "king of trains" and the "train of kings." Royalty, writers, actors and spies have ridden the original route between Paris and Istanbul, which started in the late 19th century. Author Agatha Christie described the Orient Express as "the train of my dreams." She set a bestselling murder mystery novel on its carriages, and fictional spy James Bond rode it in the movie "From Russia With Love." Travelers might think of the Orient Express as a single luxurious train, but there have in fact been quite a few over the years, with many routes and owners. Soon, people will be able to choose to take a ride on several trains using the Orient Express moniker, by two competing companies, the LVMH -owned luxury travel company Belmond and the French hospitality multinational Accor . Both have original carriages which date to the late 1800s. But they differ in how they're designed, where they travel and how long they've been in operation — one for decades and the other set to launch in 2024. History behind the 'Orient Express' The original train was conceived by a young Belgian engineer named Georges Nagelmackers, who was inspired by the Pullman sleeper trains he rode during a trip to the United States in 1868. Nagelmackers wanted to build something similar — but more luxurious — for upmarket passengers in Europe. In 1883, the "Train Express d'Orient" made its first journey out of the Gare de Strasbourg in Paris (now the Gare de l'Est) to Vienna. The Venice Simplon-Orient-Express will launch eight new suites in June 2023. Belmond A few years later, the train was renamed the Orient Express and began traveling to Istanbul, then known as Constantinople. Travelers flocked to the train's modern technology and luxurious silver cutlery and silk sheets. Soon, Nagelmackers' firm started to build more upscale trains for other European routes, including one that ran through the then-new Simplon Tunnel, which connects Switzerland to Italy, as well as the "Arlberg-Orient-Express," operating between Calais, France, and Budapest, Hungary. By the 1970s, the original Orient Express trains had made their last journeys, and the carriages fell into disrepair. But in the 1980s, two businessmen undertook separate endeavors to revive them. James Sherwood, an American, spent a reported $31 million acquiring and restoring enough carriages to form the "Venice Simplon-Orient-Express," now owned by Belmond. (To add to the confusion, Sherwood also added hotels to his travel group, calling them Orient-Express Hotels. He renamed the company to Belmond in 2014.) Swiss tour operator Albert Glatt began a service between Zurich and Istanbul, known as the "Nostalgie-Istanbul-Orient-Express," which is now owned by Accor. The 'Venice Simplon-Orient-Express' The "Venice Simplon-Orient-Express" has been operating since 1982. The train is made of original restored carriages that Gary Franklin, vice president of Belmond's trains and cruises, called "works of art." "This train comes imbued with so much history," he said. "The carriages are beautiful." As for Accor's plans to launch a train also called the Orient Express," Franklin said, "We're the ones that have been doing it for 40 years, and I think we take it as a huge compliment that people are … seeing how well we're doing with that." A one-night trip on the "Venice Simplon-Orient-Express" starts from £2,920 ($3,292) per person. Belmond Belmond has a one-off licensing deal to use the Orient Express name on its Venice Simplon train, Franklin confirmed, while Accor has the rights to the brand as a whole. The "Venice Simplon-Orient-Express" will operate winter journeys for the first time this December, visiting Paris, Venice, Vienna and Florence, encouraging guests to visit the Christmas markets in those cities. And next June, new suites are opening on the train, which come with private bathrooms, a steward, kimonos and slippers. A one-night journey will cost from £5,500 ($6,135) per person in the new suites, which are one step below the train's most luxurious category — the Grand Suites — which come with private dining, heated floors and "free-flowing" champagne, according to the website. A suite on the "Venice Simplon-Orient-Express." Belmond Tickets for around half of the new suites have already been bought, and Grand Suites (about $9,600 per night) are almost sold out, Franklin said. The 'Nostalgie-Istanbul-Orient-Express' A few years after Glatt put his train back on the rails, it was again left derelict. Fast forward to 2015 and French rail company SNCF — which then owned the rights to the Orient Express name — commissioned researcher Arthur Mettetal to find the train. "We had a beautiful brand, but no cars," Guillaume de Saint Lager, now vice president of Orient Express at Accor, told CNBC. "We knew there was this complete train, but we didn't know where it was." Using Google Maps and Google 3D, Mettetal located 17 of the original cars on the Poland-Belarus border. Carriages from the "Nostalgie-Istanbul-Orient-Express," found derelict on the Poland-Belarus border, are being restored by the French hotel group Accor. Maxime d'Angeac | Martin Darzacq | Accor "When we found this train, it was exceptional," he said. "The sleeping cars are the most rare ... very complicated to find." By this time, Accor shared the rights to the name with SNCF. The bar car on the "Nostalgie-Istanbul-Orient-Express" will feature a bar with a glass counter, a tribute to French designer Rene Lalique. Maxime d'Angeac | Martin Darzacq | Accor Much of the interior — including original marquetry, or decorated wood — was intact, said de Saint Lager. A detailed restoration is now underway, with architect Maxime d'Angeac hired to design the interiors. His brief was to "have a kind of fantasy of what could be Art Deco," d'Angeac told CNBC by phone. He said he had a significant collection of the train's original drawings and models. Original glass Lalique lamps, in the shape of a flower, will light the train's corridors, while other original elements from the rediscovered train will also be incorporated, such as suitcase racks and door handles. A corridor on the "Nostalgie-Istanbul-Orient-Express" features original glass Lalique flower lamps. Maxime d'Angeac | Martin Darzacq | Accor The bar car will feature call buttons for champagne and service, while the dining car will have a mirrored ceiling as well as a glass wall to the kitchen, so guests can see the chef. Sleeping suites will feature leather walls, embroidered headboards and en suite marble bathrooms. De Saint Lager described it as a "cruise train," where guests can alight at lesser-known places (routes and prices are yet to be announced). Passengers will soon be able to stay at "Orient Express" hotels, too, the first of which will launch in Rome in 2024, according to Accor's website. The Orient Express 'La Dolce Vita' Accor has more plans to use the Orient Express name. It's also developing six "La Dolce Vita" trains that will run through 14 regions in Italy as well as neighboring countries, with aims to have 10 Orient Express hotels by 2030. A rendering of the "Orient Express La Dolce Vita," which will connect Rome to cities like Paris, Istanbul and Split. Dimorestudio | Accor These trains will pay tribute to an era different from the Venice Simplon or the Nostalgie-Istanbul trains. "La Dolce Vita" — which translates as "the sweet life" — refers to Federico Fellini's 1960 movie, as well as to a sense of Italian glamour and pleasure. The trains are designed to embody "the Italian art of living and all its beautiful traditions," according to an online post by interiors company Dimorestudio, which is working on the project. The trains will have 18 suites, 12 deluxe cabins and an "honour suite." Most will leave from Rome's Termini station, where passengers will have access to a lounge before departure, and will travel around 16,000 kilometers (about 10,000 miles) of railway lines, with stops at lesser-known Italian destinations. A rendering of a bedroom suite on the "Orient Express La Dolce Vita," showing the train's 1960s-style decor. Dimorestudio | Accor

https://www.cnbc.com/select/state-farm-auto-insurance-review/

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Here's why we voted State Farm the best auto insurance company for customer satisfaction

When it comes to choosing your auto insurance, reviews actually matter. If you're shopping around for car insurance, prioritize high customer satisfaction as one of the top qualifiers. This is because a good rating can make filing a claim a much more smooth and hassle-free process. In fact, we already did the legwork for you. State Farm — the largest car insurance company in the U.S. based on market share — made the ranking as the "best for customer satisfaction" on CNBC Select's list of the top car insurance companies for a few reasons: State Farm has one of the highest average J.D. Power scores, its full-coverage premiums are some of the lowest around and it has an A++ rating from AM Best, indicating superior financial health. (Read more on our methodology of how we chose the best car insurance companies.) Below, we review State Farm to give you all the details on its offerings, features and fees so you can decide if it's the right insurance choice for when you hit the road. State Farm car insurance review State Farm Auto Insurance Learn More Cost The best way to estimate your costs is to request a quote App available Yes Policy highlights State farm is one of the largest auto insurers based on market share and has an excellent reputation for customer satisfaction. It offers 13 discounts, including ones for safe driving and young drivers. Terms apply. Read our State Farm Auto Insurance review. Pros High customer satisfaction Largest car insurance company in the U.S. Accident forgiveness for good drivers Cons High NAIC complaint index score Doesn’t offer gap insurance Learn More View More 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. State Farm overview State Farm is available nationwide and caters to virtually any type of person behind the wheel: new drivers, teen drivers, sports car drivers, eco-friendly drivers, business travelers, business owners and car collectors — even ranking as the "best overall" on both CNBC Select's lists of the top car insurance companies for young adults and top car insurance companies for high-risk drivers. Its auto insurance coverage options vary by state but include collision insurance, comprehensive insurance, rental insurance, rideshare insurance, emergency roadside service and more. State Farm does not offer gap insurance, but it does offer similar coverage through its Payoff Protector® program. As mentioned above, State Farm has one of the highest average J.D. Power scores, a ranking by the market intelligence firm that analyzes consumer data. In other words, State Farm's customers are quite satisfied with their service. According to the National Association of Insurance Commissioners (NAIC) Complaint Index, State Farm also receives significantly fewer complaints when compared to other companies of its size. Like with all car insurance companies, rates and one's overall policy cost depend on their driving history, credit score, type of coverage, deductibles and discounts. CNBC Select calculated State Farm's average annual premiums with data based on a 40-year-old driver with a clean driving record and good credit (more on this calculation in our methodology below). We found that State Farm's average annual premium for minimum coverage is $464, while the average annual premium for maximum coverage is $1,480. Features State Farm offers its insured users convenient features. For example, the State Farm Select Service® program provides customers with a network of auto repair shops offering claim service options for vehicle estimates and repairs. The service will even pick up and deliver your vehicle upon request. And State Farm's mobile app (available on the App Store and Google Play) makes it easy to file a claim or get roadside assistance for towing, jumpstarting or a locksmith when you're out and about. The app also allows users to access their ID cards, view all their insurance policies in one place, pay bills and connect with a State Farm agent directly. The Simple Insights® from State Farm section also has auto-specific advice on auto insurance, driving and maintenance tips. For example, there are articles covering how to stay safe while driving, tips for buying or selling a car, plus driving tips for bad weather. Discounts State Farm offers numerous discount options, which vary by state and can help lower insurance premiums: Good drivers can save up to 30% with the Drive Safe & Save TM app app Drivers under age 25 without any at-fault accidents or moving violations within the past three years can save as much as 15% with the Steer Clear ® app app Teen drivers (up to age 25) with good grades can save up to 25% Students away at school can save if they only drive while home during school breaks Safe vehicle discounts, including: an up to 40% passive restraint discount on medical-related coverage for 1993 and older vehicles equipped with a factory-installed air bag or other passive restraint systems; an anti-theft discount if your vehicle has an alarm or some other approved anti-theft device Families with multiple household vehicles can save as much as 20% when they insure more than one family-owned car with State Farm 1994 and newer-model-year vehicles may receive a vehicle safety discount Bundling discount Other insurance offered State Farm offers more than just auto insurance, and bundling multiple insurance products into one quote will likely save you money on your total policy cost. Other State Farm insurance products include homeowners, renters, condo, life insurance, pet medical insurance and more — adding one of these policies to your auto insurance policy can save you up to 17%. When you bundle auto and home insurance, State Farm's website claims you can save on average up to $1,127 per year. How it compares State Farm's auto insurance offerings are pretty competitive with other companies in the market. You may find lower-cost policies with an auto insurer like GEICO, which seems to have the lowest average premiums for both minimum and comprehensive coverage. And Farmers Insurance takes the cake with potential savings, offering 22 types of discounts on car insurance, which is the most of any company we reviewed for our "best car insurance company" ranking. Geico Auto Insurance Learn More Cost The best way to estimate your costs is to request a quote App available Yes Policy highlights Geico coverage and services are available in all 50 states and the District of Columbia and there are 16 different types of discounts available. In addition to the standard coverage options, Geico offers various optional add-ons, such as emergency roadside assistance, rental car reimbursement and mechanical breakdown insurance. Terms apply. Read our Geico Auto Insurance review. Farmers Auto Insurance Learn More Cost The best way to estimate your costs is to request a quote App available Yes Policy highlights Farmers sells car insurance in every state except Alaska, Delaware, Hawaii, Maine, New Hampshire, Rhode Island, Vermont, Washington, D.C., and West Virginia and offers a whopping 22 discounts. Terms apply. Bottom line When it comes to car insurance, State Farm definitely has you covered. Its high J.D. Power score, full-coverage premium costs, A++ rating from AM Best, auto insurance coverage options, special features, discounts and other insurance offerings for bundling make it a well-rounded choice for protecting you and your family on the road. 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. Our methodology To determine the best car insurance companies, CNBC Select analyzed dozens of U.S. insurance companies that come with policies to suit an array of needs. When narrowing down and ranking the best car insurance companies, we focused on average cost, coverage, availability, ease of use and customer satisfaction using data from the National Association of Insurance Commissioners, AM Best, J.D. Power rankings and car insurance premium data from Bankrate.com. The average annual premium data is based on a 40-year-old driver with a clean driving record and good credit. The driver insures a 2020 Toyota Camry, commutes five days a week and drives 12,000 miles annually, with the following full-coverage limits: $100,000 bodily injury liability per person $300,000 bodily injury liability per accident $50,000 property damage liability per accident $100,000 uninsured motorist bodily injury per person $300,000 uninsured motorist bodily injury per accident $500 collision deductible $500 comprehensive deductible After reviewing the above features, we sorted our recommendations by best overall, best for wide coverage, best for customer satisfaction, best for discounts and best for military members and veterans. Note that the premiums and policy structures advertised for car insurance companies are subject to fluctuate in accordance with the company's policies. 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/select/best-umbrella-insurance/

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Umbrella insurance could help protect you if you're sued — here are the best companies offering it

While never required by law, umbrella insurance can be incredibly valuable for individuals and business owners with a lot of assets or those with a significant risk of being sued. This can include households with dogs that might bite, swimming pools that could cause accidents and teenage drivers who pose higher risks. Umbrella insurance provides additional coverage beyond your underlying insurance policies, like auto and homeowners insurance. It can protect you financially from bodily injury and property damage liability claims, as well as legal expenses beyond your usual insurance limits if you find yourself in a lawsuit. For example, if you're involved in an auto accident that causes $500,000 worth of bodily injury damages, but your auto insurance policy has a $300,000 limit for these types of damages, an umbrella insurance policy would cover the remaining $200,000. Otherwise, your savings and future earnings could be used to cover the difference. Here, CNBC Select rounds up the best umbrella insurance providers based on availability, customer satisfaction and maximum limits. (See our methodology for more information on how we made this list.) Best umbrella insurance Best overall Travelers Umbrella Insurance Learn More Cost The best way to estimate your costs is to request a quote Maximum coverage $10 million App available Yes Policy highlights A Travelers Umbrella Insurance policy comes with all of the protection you need, covering you at home and abroad. These umbrella policies include coverage for libel, slander, and defamation of character, and legal defense costs. Pros High enough coverage options for most typical families High ratings for customer satisfaction Cons Quotes and purchasing not available online Learn More View More Who's this for? Travelers can be a good fit for many families and business owners, with $1 to $10 million in umbrella insurance coverage available. It can also help provide coverage for liabilities that happen outside of the U.S. Standout benefits: Travelers is highly rated for its underlying policies, homeowners insurance and auto insurance, earning high rankings from J.D. Power for both types of insurance. Additionally, a below-average complaint index helps Travelers stand out. [ Jump to more details ] American Family Umbrella Insurance Learn More Cost The best way to estimate your costs is to request a quote Maximum coverage Undisclosed App available Yes Policy highlights American Family has a wide variety of umbrella policies available, including personal coverage, commercial coverage and coverage for ranches and farms. It's also highly rated for auto and home insurance. Pros Wide variety of coverage options available. Cons Not available in all 50 states. Learn More View More Who's this for? American Family has strong options for auto and homeowners insurance in addition to umbrella insurance. American Family also offers a unique umbrella insurance policy for those with a farm or ranch. Standout benefits: American Family's umbrella insurance offers an opportunity to bundle coverage, making it a top choice for those who want simplicity. [ Jump to more details ] Best for high-net-worth families Chubb Masterpiece Excess Liability Insurance Learn More Cost The best way to estimate your costs is to request a quote Maximum coverage $100 million App available Yes Policy highlights Chubb's Excess Liability Insurance offers high coverage limits with a strong track record of customer service and satisfaction. It offers coverage worldwide and at home, and includes defense costs and legal counsel in lawsuits. Pros High coverage limits Strong scores for customer satisfaction Cons Quotes and purchasing not available online Learn More View More Who's this for? Chubb's excess liability insurance is a strong choice for those with lots of assets to protect. It stands out for those who employ staff in their homes, as Chubb provides liability coverage related to employment practices for residential staff. Standout benefits: With up to $100 million in coverage available, Chubb is a top choice for those who may need more than the typical $10 million limit available through other umbrella insurance policies. It covers defense costs for most lawsuits and extends coverage worldwide. [ Jump to more details ] Best for military families USAA Umbrella Insurance Learn More Cost The best way to estimate your costs is to request a quote Maximum coverage $5 million App available Yes Policy highlights While only available to military members, veterans and their families, USAA's Umbrella Insurance could be a good fit for those eligible who already have auto insurance policies through the company (carrying an auto policy is a requirement for this umbrella insurance). Its auto and homeowners insurance offerings are highly rated for customer claims satisfaction. Pros Auto insurance through USAA is required, but other insurance companies may be used for other coverages. High ratings for customer satisfaction Cons Only available to military members and their families Learn More View More Who's this for? USAA umbrella insurance is only available to those who have served in the U.S. military and their families. However, those who are eligible may find that USAA's coverage stands out in terms of customer service. Standout benefits: USAA is consistently one of our top picks for auto insurance, which anyone getting umbrella insurance will need to get through the company (except for in New York, Pennsylvania or Hawaii). [ Jump to more details ] More on our top umbrella insurance companies Travelers Travelers has been in the insurance business for more than 165 years and continues to be highly rated for customer satisfaction and financial strength. It boasts an A++ financial strength rating by AM Best. Types of umbrella insurance available Personal and commercial NAIC complaint index (Average is 1) 0.79, lower than expected Policy requirements Not disclosed [ Return to summary ] American Family American Family has been insuring families for 90 years, garnering a reputation for strong coverage and excellent customer service. Types of umbrella insurance available Personal, commercial, farm and ranch NAIC complaint index (Average is 1) 0.79, lower than expected Policy requirements Not specified [ Return to summary ] Chubb Chubb has been named one of CNBC Select's top picks for high-net-worth families for homeowners insurance, flood insurance and jewelry insurance. That's for good reason — the company has consistently high marks for customer service and satisfaction. Chubb is also rated highly for financial strength by AM Best. Types of umbrella insurance available Personal and commercial NAIC complaint index (Average is 1) 0.24, lower than expected Policy requirements Not disclosed [ Return to summary ] USAA USAA is consistently a top contender in the insurance space, despite only being available to those who are currently serving in the military, veterans and their families. Its homeowners insurance and auto insurance have both been highly rated for customer satisfaction by J.D. Power. Types of umbrella insurance available Personal and commercial NAIC complaint index (Average is 1) 1.79, higher than average Policy requirements Requires auto insurance policy, minimum limits on auto, homeowners and other types of insurance apply [ Return to summary ] FAQs What does umbrella insurance cover? Umbrella insurance can add to your liability coverage, going beyond the limits of your auto insurance, homeowners insurance or other policies and help if you're facing a lawsuit for unintentional damages. It can provide coverage for legal defense costs that you'd otherwise be on the hook for, including things like attorney fees. Who needs umbrella insurance? Anyone with assets to protect from legal rulings could benefit from umbrella insurance. Some situations could put you at higher risk of a lawsuit, including: Owning a pool or trampoline Frequently having guests or hosting parties Volunteering or coaching children's sports Having young drivers Being a landlord If you find yourself in one of these positions, having umbrella insurance could provide some peace of mind. What is not covered by umbrella insurance? Since umbrella insurance is designed to cover damages to others, it won't cover your property or belongings. Umbrella insurance also won't cover intentional acts. Under a personal umbrella insurance policy, business damages or property won't be covered. Generally, this includes businesses operated out of your home. How much umbrella insurance do I need? Generally, umbrella insurance coverage should equal your taxable assets, including things like investments, homes beyond your primary residence and other assets. Bottom line Umbrella insurance can help cover costs beyond the liability limits of your auto, homeowners or other insurance to protect your assets if you're found responsible for damages to others. For the best umbrella insurance coverage, consider the underlying policy requirements, the quality of those underlying policies, the company's financial strength, and any specific features you may need. 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 insurance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of insurance products. To research the best umbrella insurance companies, we compiled over 100 data points on more than a dozen insurance companies offering umbrella insurance policies. 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 umbrella insurance companies. Our methodology 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/2022/03/16/96percent-want-vacation-dollars-to-further-sustainability-goals-says-survey.html

TRV

Travelers Companies (The)

96% of travelers want their vacation dollars to positively impact the place they visit, survey finds

Forty-eight percent of respondents told Kind Traveler their greatest challenge in traveling sustainably is finding accommodations that are both "sustainable and socially conscious." Klaus Vedfelt | Digitalvision | Getty Images Everyone likes a bargain when it comes to booking travel, but many also want the money they spend to do some good where they're headed, according to a survey from hotel booking platform Kind Traveler. To that point, 96% of survey respondents told the woman- and veteran-owned company that it's "important" (or slightly, fairly or very important) that their travel dollars make a positive impact in the destinations they visit. Kind Traveler surveyed 1,014 people, 90% of them in the U.S., last year. The Importance of Impact Travel in Bookings In a 2021 survey of 1,014 travelers, Kind Traveler found that: 96% said it's important (slightly important, fairly important, important or very important) that "my travel dollars are making a positive impact in the places I visit." said it's important (slightly important, fairly important, important or very important) that "my travel dollars are making a positive impact in the places I visit." 48% said "my greatest challenge in traveling sustainably is choosing accommodations that are sustainable and socially conscious." said "my greatest challenge in traveling sustainably is choosing accommodations that are sustainable and socially conscious." 37% said "my greatest challenge in traveling sustainably is reducing or eliminating my carbon footprint." — Source: Kind Traveler The survey, whose findings were released in the 2022 Kind Traveler Global Impact Tourism Report, also found that nearly half (48%) of respondents said their greatest challenge in trying to travel sustainably is finding accommodations that are both "sustainable and socially conscious." More than a third, meanwhile, said their greatest challenge is reducing or eliminating their carbon footprint. The full report also details 10 travel industry trends distilled from feedback from 64 Kind Traveler partner hotels, charities and destinations in 16 countries. These include: Hotels and destinations creating innovative ways for guests to give back to surrounding communities and environments. Charities developing "impact tourism" experiences to motivate responsible travel. Hotels acting as "regenerative powerhouses" in their host communities. Global travelers asking for transparency around hotels' charitable and sustainable efforts. More from Personal Finance: Going abroad? Your destination may require travel insurance Americans are ready to travel as their omicron fears fade Here's where Americans want to travel abroad "Trends give us direction, while solutions give us better pathways forward," said report author and Kind Traveler CEO Jessica Blotter, in a statement. A former earth science teacher, Blotter said "education and positive change are interlinked." "By creating and offering more kind choices, it's possible to create tourism opportunities that drive positive impact and trip satisfaction," said Blotter, who is also board chair of the Center for Responsible Travel. watch now

https://www.cnbc.com/2023/12/30/eurostar-cancels-trains-due-to-flooding-stranding-hundreds-of-travelers-in-paris-and-london.html

TRV

Travelers Companies (The)

Eurostar cancels trains due to flooding, stranding hundreds of travelers in Paris and London

Passengers gather at the departure gates of the Eurostar terminal at St Pancras International Station after the services are cancelled due to a flooded tunnel, in London, Britain, on Dec. 30, 2023. The holiday travel plans of hundreds of people were upended Saturday after Eurostar canceled train services to and from London because a tunnel under the River Thames became flooded. Large crowds of travelers trying to get across the English Channel were stranded at London's St. Pancras International Station and the Gare du Nord station in Paris. Eurostar, which runs services from London to Paris, Brussels and Amsterdam, said it canceled all 41 trains scheduled for Saturday because of the flooding. Engineers working on the tunnel said water levels were reducing. The volume of water in the tunnel was "unprecedented," they said. The U.K. has been battered by strong, gusty winds and heavy rain brought by Storm Gerrit throughout the holiday period. More stormy weather and travel disruption is expected during the last weekend of the year. Many travelers stuck at the train stations sat on floors and suitcases, scrambling to find last-minute accommodation or alternative plans. Chris Dillashaw, from San Antonio, Texas, was among many whose plans for New Year's Eve were ruined by the travel chaos. "Our entire family is here ... We were celebrating Christmas in Paris and then headed to London for our New Year's Eve plans," he told The Associated Press while waiting at Gare du Nord. "It's pretty disappointing to find out via an email what happened." Christina David, 25, and Georgina Benyamin, 26, from Sydney, said they have nowhere to stay after finding out that their train from London to Paris — their final stop in a weeks-long European tour — was canceled. "We paid for an expensive hotel with an Eiffel Tower view," Benyamin said. "Now we have to book a hotel to stay for the night here. We don't know where to go; we have nowhere to stay." Eurostar said it was "extremely sorry for the unforeseen issues affecting our customers and services." "We understand this is a vital time to get home at the end of the festive season and ahead of New Year," the company said. Eurostar services were also disrupted just before Christmas due to a strike by staff at Eurotunnel. The U.K.'s weather forecaster, the Met Office, said more high winds and rain are expected to hit London and southern England on Saturday. Gusts of up to 50 miles per hour (80 kph) are expected, with the strongest winds likely near coastal areas.

https://www.cnbc.com/2022/09/02/top-10-safest-countries-for-solo-female-travelers-2022.html

TRV

Travelers Companies (The)

These are the top 10 safest countries for solo female travelers—and the U.S. didn't make the list

A recent study from Bounce — a travel company that allows users to store their luggage in local shops around the world — analyzed over 30 countries and ranked the best destinations for women to travel alone in 2022. Safety score: 7.88/10 Ireland scored the highest among nearly all of the factors Bounce analyzed in its study. The country ranked at the top for having laws in place to protect women from violence and its people's attitudes toward violence against women. The second highest-ranking nation on the list is Austria, with an overall score of 7.70/10. Austria scored the highest for the percentage of women who feel safe walking alone at night — 79%. Norway came in third place with an overall safety score of 7.45/10, and received positive scores for the safety of women walking alone at night, its laws on domestic violence, and its female homicide rate.

https://www.cnbc.com/2023/12/22/which-has-cheaper-hotel-rates-booking-agoda-expedia-or-priceline.html

TRV

Travelers Companies (The)

Booking, Agoda or Expedia? A review of 200,000 hotel searches shows which has the best rates

In this article BKNG EXPE Follow your favorite stocks CREATE FREE ACCOUNT Vacations can be fabulously relaxing. But booking one is another story. The average traveler views 141 pages of travel content in the 45 days prior to booking a trip, according to an Expedia Group report. The most popular site to visit was an OTA — or "online travel agency" — which is an industry term that describes booking websites like Expedia, Travelocity, Orbitz and Priceline. Some 80% of travelers visit one, whether they book on it or not, according to the report. watch now But which one has the best prices? The travel company RatePunk has a browser extension that compares hotel prices pulled from major hotel websites and hundreds of OTAs, said company CEO Justin Albertynas. The company reviewed more than 198,000 user searches from Jan. 1 to Dec. 1, 2023, to find which websites offer the lowest hotel prices, he told CNBC Travel. Lowest hotel rates in Asia and the Middle East The company found that, globally, Agoda had the best rates 34% of the time, followed by Priceline (23%) and Booking.com's mobile site (16%). From 198,418 hotel searches. B. = Booking.com's mobile site. Source: RatePunk RatePunk's regional data showed Agoda had the cheapest rates in Asia and the Middle East. From 39,679 hotel searches. Source: RatePunk The Singapore-based company offered the lowest rates in nearly half of the hotel searches in Asia. "Agoda … they have the really great prices," said Albertynas. "What we see from our user bookings, they usually like to start to book, or discover accommodations, from one of the biggest, like Booking.com or Expedia, and they end up buying from Agoda." From 17,875 hotel searches. Source: RatePunk Albertynas told CNBC Travel that Agoda's rates are about 10% to 15% lower — and on occasion "even up to 20%, but not more." For expensive bookings, "you can you can save lots of money. But if you're booking one night somewhere in Asia for $50, so it will be like much less savings," he said. Agoda is targeting Asia countries, said Albertynas. "Asia is growing market but, in the sense of spendings, it's quite a sensitive market," he said. "I think it's part of the strategy to acquire users." Lowest hotel rates in Europe In Europe, Agoda had the best rates 38% of the time, but Booking.com — through its mobile and desktop sites — had lower rates slightly more than 40% of the time. From 123,304 hotel searches. Source: RatePunk Across every region, Booking.com's mobile site — accessible via mobile phones and tablets — had better prices than its desktop version. "We see that not only for Booking but for our providers as well. But Booking has the most significant amount of cheaper properties on mobile," said Albertynas. Desktop sites have bigger customer acquisition costs, said Albertynas, adding that most desktop users find websites via searches. That means websites "need to pay for Google ads … they need to bid for keywords … and reacquire users each time the user books through them. And in case of the mobile or mobile app, it's like much more retention in terms of getting users back." Additionally, some hotels provide better prices for mobile users. "Booking.com, they have three different rates: desktop, mobile, and also a mobile app," said Albertynas. "In what we see from our data, 80% of mobile and mobile app prices are similar, but there are cases where we can actually find the cheaper rate on the app." Lowest hotel rates in the U.S. Travelers headed to the United States may want to lean on Priceline. The Connecticut-based company, which is owned by Booking Holdings, had the cheapest rates in nearly half of the some 40,000 searches that were analyzed. From 40,656 hotel searches. Source: RatePunk Agoda only had the lowest rates in 13% of the searches. But Albertynas said people traveling in the United States should keep an eye on Booking.com in 2024. "Booking Holdings, mainly the Booking.com brand, is really trying to expand into the States," he said. "They will be making some promotions and some kind of direct deals with the chains, with the hotels to provide a better price." Lowest rates in certain countries and cities

https://www.cnbc.com/2023/08/04/truist-says-this-power-generator-builder-can-rally-more-than-40percent.html

TFC

Truist

Truist says this power generator builder can rally more than 40%

Generator supplier Generac is primed for major gains ahead, according to Truist. The firm upgraded the stock to buy from hold Friday. Its price target of $160 per share implies upside of 44% from Thursday's close. The company, which sells both residential and commercial backup generators, is up 10% year to date, lagging the broader market. This week, the stock sold off on the back of disappointing second-quarter results. GNRC 5D mountain Generac this week But analyst Jordan Levy said investors shouldn't shy away from the stock. "We're upgrading shares of GNRC to Buy following a ~30% post-earnings sell-off that we see creating an attractive entry for investors to gain exposure to a well established name in home/commercial backup power w/upside potential from a recovering Clean Energy segment," Levy said. The analyst also pointed to potential upside compared with the firm's 2024 forecasts for growth due to pent-up demand for home standby generators. "Given tailwinds surrounding home energy resiliency/consumer energy awareness, we believe we could see HSB cycles compressed driving pent-up demand moving into 2024 that could create upside to our 2024 growth forecasts," he said. Investment firm Janney also upgraded Generac to buy Friday, citing improvements in free cash flow generation, an attractive valuation and potential upside from an analyst day in September. — CNBC's Michael Bloom contributed to this report.

https://www.cnbc.com/2023/04/21/truist-downgrades-tesla-blaming-lower-margins-and-price-reductions-.html

TFC

Truist

Truist downgrades Tesla and slashes target due to price reductions and lower margins

Truist Securities downgraded its investment opinion on Tesla because of the electric vehicle maker's willingness to cut prices and accept lower profit margins. The firm now views Tesla as a hold, down from a buy rating, and slashed its per share price target 37% — to $154 rom $245. That's almost 6% lower than Thursday's close of $162.99. Tesla reported disappointing earnings on Wednesday, noting a 24% decline in net income compared to the year ago period. Shares of the Austin, Texas-based company lost nearly 10% on the report, but are up about 0.2% pre-market trading Friday. TSLA YTD mountain Tesla stock is slightly higher so far Friday after a disappointing earnings report on Wednesday. "This willingness to accept lower margins highlights the degree to which TSLA's value is more tied to its AI initiatives; however, it also diminishes the value of the core automotive business," Truist analyst William Stein wrote on Friday. "This influences a sensitivity analysis around automotive EBIT margins...stimulating our downgrade to Hold." Chief executive Elon Musk told investors on the company's earnings call that Tesla is focusing instead on building a bigger fleet of vehicles as opposed to higher margins. "We've taken a view that pushing for higher volumes and a larger fleet is the right choice here, versus a lower volume and higher margin," he said. Early Friday morning, Tesla raised the prices of both the Model S and Model X , the company's premium tier vehicles, just days after cutting prices for the sixth time this year on Model 3 and Model Y cars. Stein noted some positive takeaways from Tesla's latest quarterly results, noting that the company is sticking with a target of producing 1.8 million vehicles this year as well as the forthcoming launch of the Cybertruck. — CNBC's Michael Bloom contributed to this report.

https://www.cnbc.com/2023/01/05/buy-these-broadband-operators-after-valuations-took-a-hit-truist-says.html

TFC

Truist

Buy these broadband operators after valuations took a hit, Truist says

Oversold conditions make now an opportune time to bet on shares of Comcast and Charter Communications , Truist said. Analyst Greg Miller upgraded shares of both Comcast and Charter to buy from hold, with respective $50 and $550 price targets. The recent investor flight from both stocks has created a valuation reset, he said. "These two were the worst performing large-cap stocks in our coverage universe in 2022 as investors recognized broadband flow share trends fundamentally changed, but we believe efforts to stem the erosion are proving successful and should once again cause the stocks to trade at traditional premiums to telecom stocks," he wrote in a note published Thursday. Miller also said that investor concerns of increased competition have now been accounted for in both stocks, which should support limited downside going forward. "Unlike a year ago when investors believed the only issues facing the cable industry was the pandemic "pull-forward" of demand and the lack of residential moving in the US, most investors have now come to terms with the fact that new variables (fixed wireless and fiber) are also responsible for the lack-luster [high speed data] growth," he wrote. Comcast and Charter sold off sharply in 2022, falling about 30% and 48%, respectively. Truist's fresh price targets imply 37% and 55% upside from Wednesday's close, respectively. Comcast shares gained more than 1% premarket, while Charter added 1% on light volume. "With relatively attractive valuation (both CMCSA and CHTR share are now trading at a discount to AT & T, Verizon and T-Mobile), combined with the prospects for positive broadband net subscriber additions again in 2023 (both CMCSA and CHTR), we find the stocks to be oversold," Miller wrote. — CNBC's Michael Bloom contributed reporting Disclosure: CNBC is owned by Comcast's NBCUniversal.

https://www.cnbc.com/2022/12/05/truist-upgrades-mgm-resorts-says-strong-2023-las-vegas-strip-calendar-can-boost-stock-more-than-30percent.html

TFC

Truist

Truist upgrades MGM Resorts, says strong 2023 Las Vegas Strip calendar can boost stock more than 30%

MGM Resorts could be in for a big rally in the new year thanks to a jam-packed events calendar on the Las Vegas Strip, according to Truist. Analyst Barry Jones upgraded the casino operator to buy from hold. He also hiked his price target on the stock to $50 per share from $40. The new estimate implies upside of 34% from Friday's close of $37.08. MGM shares popped 3.7% in the premarket. "While we've historically been more cautious on bear-case macro risks to the Strip and destination markets, we would expect MGM to see relative outperformance in 2023 on the Strip's strong event calendar and returning midweek business travel," Jones said. CES, an annual trade show for the tech industry, is slated for the first quarter of 2023, with attendance expected to total about 170,000. This event was held in Las Vegas last year, but Jones noted that comps will be easy to beat as the omicron Covid variant breakout hindered turnout. Other events slated to take place on the strip include the Formula One Las Vegas Grand Prix in the third quarter and the Electric Daisy Carnival in the second quarter. Attendance for the former is expected around 170,000, while turnout for the latter is forecast at more than 400,000, Truist said. To be sure, Jones said that rising flight and hotel costs could hurt the stock. Still, he thinks that "the number and quality of events planned for Vegas should drive relative outperformance." — CNBC's Michael Bloom contributed reporting.

https://www.cnbc.com/2022/07/13/truist-initiates-coverage-of-tesla-with-buy-rating-1000-price-target.html

TFC

Truist

Truist initiates coverage of Tesla with a buy rating and $1,000 price target

Tesla has another bull in its corner. Truist Securities on Wednesday initiated coverage of the electric vehicle maker with a buy rating and price target of $1,000. That represents a more than 40% upside from where shares closed at $711.12 during Wednesday's session. "We believe the company's best days, in terms of volume production, product innovation, and, especially AI innovations, are still down the road," wrote analyst William Stein in the July 13 note. Truist expects Tesla to continue to outperform expectations in vehicle deliveries in the coming years and reach 10 million units per year by 2030, according to the note. "Our view is based on our expectation for robust growth to continue as TSLA's culture has encouraged three sustainable growth drivers: vertical integration and rapid innovation, consistent introduction of new platforms, and a growing number of more capable & efficient factories," said Stein. The firm sees significant upside in Tesla's AI innovations, which could turbocharge growth opportunities going forward, according to the note. These include advanced driver assistance systems, autonomous driving, AI computing services and AI robotics. "We estimate these high-growth, high-profit margin potential AI innovations are responsible for 43% of the equity's value," Stein said. Truist sees Tesla's profitability taking a step back in the second quarter of 2022 due to rising input costs and lower volumes from the shutdown of its Shanghai factory, as well as increased factory costs in Shanghai and Texas and bitcoin deflation. Still, the firm expects Tesla to rebound and reach peak profitability in the fourth quarter of 2023. The company may be able to reach that goal sooner, in the third quarter of 2022, given a 26% contribution margin, according to the note. Of course, there are risks to the firm's base case, including shifting consumer spending on luxury and electric vehicles, the potential for further Covid-related shutdowns, supply costs and constraints and increased competition. Truist is also considering catalysts such as upcoming delivery and quarterly results, daily tweets from CEO Elon Musk, the company's upcoming AI day on Sept. 30 and more.

https://www.cnbc.com/2022/09/29/buy-rivian-now-as-the-stock-is-poised-to-surge-85percent-truist-says.html

TFC

Truist

Buy Rivian now as the stock is poised to surge 85%, Truist says

Shares of electric vehicle maker Rivian are set to surge, making now a good time for investors to buy, according to Truist. The firm on Wednesday initiated coverage of the company with a buy rating and a $65 price target. That signals shares could surge 85% from current levels. Shares of Rivian have declined roughly 66% year to date through Wednesday's close. While the company has just started to deliver its first vehicles, it has spent the last decade strategically positioning itself, raising capital and building out its vertically-integrated ecosystem, according to Truist. "As Rivian pushes through the formidable challenges of ramping 4 different vehicles amidst a historically difficult supply chain backdrop, we believe the market will come to see Rivian not just as a successful EV manufacturer with a powerful partner in Amazon, but as a leading example of a next-generation diversified mobility tech powerhouse," wrote analyst Jordan Levy. What sets Rivian apart There are a few key things that Levy sees as positives for Rivian. First is its leadership team, which the firm says shouldn't be overlooked. "Rivian CEO RJ Scaringe has built the company from the ground-up while bringing together a team with expertise spanning the broad range of the company's business segments," Levy wrote. In addition, the company's vertical integration and product differentiation set it apart from competitors. "Controlling the full software & electronics landscape within its vehicles is core to Rivian's business model, and we believe will prove invaluable in the growth of multiple recurring revenue streams," said Levy, adding that this could also boost the company's direct-to-consumer model as all purchases must be made the Rivian's ecosystem. The company also has an advantage in the products that it offers, which has set it ahead of incumbents that will be left playing catch up, according to Levy. "On the consumer side, this means drive modes, infotainment, fun stuff," they said. "On the commercial side it is seamless integration with the company's systems, fleet monitoring & analytics, connectivity." Key partnership Rivian also has a powerful partner in Amazon that provides a strategic advantage over other electric vehicle makers and also gives it a potential edge up against legacy car companies competing in the electric market, according to the note. "We see Amazon's initial purchase of 100,000 EDVs through 2030 underwriting steady growth in RIVN's commercial segment and driving meaningful demand from other fleet owners moving into the latter half of the decade," said Levy.

https://www.cnbc.com/2018/07/06/gemini-cryptocurrency-exchange-nabs-nyses-tech-chief.html

TYL

Tyler Technologies

Winklevoss cryptocurrency exchange nabs NYSE's tech chief

Gemini Trust, the cryptocurrency exchange founded by brothers Tyler and Cameron Winklevoss, named NYSE's top technology executive to be its first chief technology officer, another sign the wild west digital currency sector is moving more mainstream. Robert Cornish was NYSE's chief information officer, a role that oversaw the Big Board's ongoing electronic trading overhaul. He joins Gemini later this month, according to the company's announcement, where he will take over technology initiatives. A wave of Wall Street executives have jumped to digital currency startups this year, giving the sector once considered a fringe movement added legitimacy. Former Goldman Sachs executive Richard Kim became the chief operating officer of Mike Novogratz's Galaxy Digital, CNBC reported earlier this year. And Michael Bucella left Goldman for BlockTower Capital, a crypto firm founded by former Goldman vice president Matt Goetz. At Gemini, Cornish "will ensure that Gemini continues to deliver the best platform experience to our customers as possible and set the standards of excellence for the cryptocurrency industry as a whole," Tyler Winklevoss, Gemini's CEO, said in the statement. Gemini recently won New York state regulatory approval to offer bitcoin cash and litecoin for trading and custody and is the first to receive a New York license for trading in Zcash, another cryptocurrency.

https://www.cnbc.com/2019/05/31/ibm-ceo-companies-must-prepare-society-for-the-impending-ai-workforce.html

TYL

Tyler Technologies

IBM CEO: AI-driven 'new collar' jobs are coming, and it's up to businesses to prepare a new generation of workers

IBM CEO Ginni Rometty said Friday that corporations owe it to society and their shareholders to help prepare people for AI-driven changes to the workforce. In a world where it is expected that artificial intelligence will impact every existing job, she said business leaders have an important social, corporate and economic responsibility to help high school students develop skills for what she called "new collar" jobs at the intersection of business and technology. Think cloud and cyber careers, she said. "[There's] a different paradigm that I think is going to be needed to make this an inclusive era. It is one of the things I worry the most," Rometty said in a one-on-one interview with "Mad Money's" Jim Cramer. "We build these technologies so I think we have a responsibility … to prepare society for these technologies." The interview was taped at the Pathways in Technology Early College High School in Brooklyn, New York. The school is one of a group of 200, in more than a dozen countries, that IBM has helped design in partnership with education and business institutions. The digital transformation, commonly called the Fourth Industrial Revolution, is projected to generate $100 trillion in value over the next decade, according to the World Economic Forum. The Pathways in Technology program, or P-TECH, focuses on STEM education covering the fields of science, technology, engineering and mathematics. "I think it's the most ambitious and most successful program of its kind in the world," Rometty said. Rometty, who also serves as chair and president of the company, said the curriculum provides a six-year pipeline for students to complete high school requirements and obtain an associate degree in high-growth, "new collar" positions. The program targets youth in under-served communities that have been left behind by technology. About 125,000 students are involved in P-TECH, which offers mentorship, internship and job opportunities so "every child can succeed," Rometty said. There are 500 business partners in the network, including Canon, Ford and Sprint, that students can engage outside the dominant and traditional college route. "This is an example of a new model of education … a way for this new era that kids [may] not necessarily have a college degree," Rometty said of the program that is now in its seventh year. "I need that workforce for my company and I need society to want these technologies and not be divided over them." While technology is exponentially reshaping society, women and minorities are disproportionately left out. P-TECH has intentions to help establish an inclusive environment. Outside of its focuses on education and skill development, a third pillar is returnship — helping give confidence to people, especially women, who have been out of work to return to the workforce. "That's one of the biggest issues of pipeline to women is they leave for a reason is to pull them back in," Rometty said. "They're always more critical of their own skills than anyone else is."

https://www.cnbc.com/2020/07/10/daymond-john-on-the-experience-model-retail-is-changing-by-the-day.html

TYL

Tyler Technologies

'Shark Tank' star Daymond John on the pivot to the experience model: 'Retail is changing by the day'

Retail is going through what can be considered a "golden age" as businesses adapt to a new landscape of connecting with consumers, "Shark Tank" star and serial entrepreneur Daymond John said Friday. Companies such as Home Depot are using the internet to their advantage to thrive, while others that lack the necessary technology are dying, the FUBU clothing line founder and CEO told CNBC. "Retail is changing by the day," he said of successful retailers in a "Closing Bell" interview. "[Retailers] are either dying or they're striving," and successful retailers are "just finding a new way to get to their new consumer online." The necessity for experiential shopping, he said, can be illustrated by the surging stock prices of online-based commerce firms Amazon and Shopify , the latter of whose stock price recently climbed into the four-digit club. Shares of Amazon, the e-retail conglomerate, are up more than 73% year to date and closed Friday's session at a fresh high of $3,200. Shares of Shopify, which outfits businesses with e-commerce tools, are up nearly 160% in that same period, closing the session at 1,031.86, which is within $30 of its peak trade earlier this month. The comments come amid a wave of retail bankruptcies during a coronavirus pandemic response that had left store operations limited or closed and consumers locked down at home for months. Some of the most noteworthy bankruptcy protections in retail came from Nieman Marcus, J.C. Penney , Pier 1 Imports and J. Crew, among others. "They're going to close, they're going to have smaller imprints, and they're going to have to change around their model," John said of companies looking to survive the tech-driven disruption. "Their model is going to need to be more of an experience." The experiential retail model involves more than marketing products and customers buying goods. Traditional retailing is all about acquiring new shoppers, upselling current consumers and making recurrent customers buy more frequently, John said. Home Depot pivoted to the new retail environment starting in 2018 by investing $11 billion into its technology infrastructure to fend off brick-and-mortar competition from Lowe's and establish a web presence to stave off others such as Amazon. The goal is to find customers online, John said, explaining how a company such as Sephora must train salespeople to track a customer's buying habits and consult them on future purchases. He contrasted it to FUBU's heyday, when the product was simply shipped to a department store, such as Macy's , and the apparel company was unable to document their customers' interests. "If your salespeople now are not in the transactional mode of making a quick sale, and they're in the mode of making a content and a conversion play and following you home and knowing your buying habits, you're going to be in good shape," John said. "But if you're only thinking of your store as a place of transactions, you're not going to be in good shape." Disclosure: CNBC owns the exclusive off-network cable rights to ″Shark Tank," on which Daymond John is a co-host.

https://www.cnbc.com/2020/06/25/coronavirus-35-states-using-salesforce-contact-tracing-marc-benioff-says.html

TYL

Tyler Technologies

Marc Benioff says 35 states are now using Salesforce's contact tracing technology for coronavirus

Dozens of states have adopted Salesforce 's new platform designed to help organizations reopen and operate amid the coronavirus pandemic, CEO Marc Benioff told CNBC's Jim Cramer Thursday. Work.com, which was launched with inspiration from the governor of Rhode Island, is now being used by 35 states in the U.S., Benioff said. The contact tracing platform was launched in early May to help businesses survey workforces and organize employees into shifts in order to improve workplace health as society continues to grapple with the Covid-19 crisis. "This is a time where every company needs to reassess its relevance to maintain its market share and innovation and right now for Salesforce that's a major focus on Work.com, our new platform that allows companies to reopen safely," Benioff said in a "Mad Money" interview. Benioff called the platform a "critical technology" because "when people do get sick you have to be able to talk to them" and mitigate the spread of the disease, he added. Texas, where the number of coronavirus cases is on an alarming rise, is also using Salesforce tracking technology. The Lone Star State was among the first states to reopening their economies from a months-long lockdown intended to slow the spread of the disease. But Texas, along with several other states, has emerged as a hotspot in the U.S. after seeing record high daily positive tests and growing hospitalizations. Gov. Greg Abbott on Thursday announced that he would put the state's reopening plans on pause. When asked what advice he has for state leaders to combat transmissions, Benioff said safety precautions are the best approach. "I think Gov. Abbott is, you know, in the middle of his first pandemic, just like I'm in the middle of my first pandemic," Benioff said. "We're doing the contact tracing for the state of Texas. We're helping him build out his network to help his contact tracers find people who have potentially been infected and get them to quarantine. That is an incredibly important part of what is happening. The second thing is we've got to have masks." Salesforce shares rose 1.50% to $188.34 during Thursday's market trading. The stock is up 15.80% year to date.

https://www.cnbc.com/2018/07/09/nobel-prize-winning-economist-joseph-stiglitz-criticizes-bitcoin.html

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Tyler Technologies

Nobel-winning economist: Authorities will bring down 'hammer' on bitcoin

Proponents of cryptocurrencies such as bitcoin say the digital money and the public ledger technology underneath — known as blockchain — will revolutionize our daily lives, from transacting to harnessing personal data. Critics, however, voice concerns about adopting a largely unregulated financial asset that can be used anonymously and has no central authority. Nobel prize-winning economist and Columbia University professor Joseph Stiglitz is among those critics. Although the ledger of transactions that has taken place on the blockchain is public, Stiglitz says the anonymity of bitcoin opens the door for criminal enterprises. "You cannot have a means of payment that is based on secrecy when you’re trying to create a transparent banking system," Stiglitz, 75, told the Financial News Monday. "If you open up a hole like bitcoin, then all the nefarious activity will go through that hole, and no government can allow that.” Although the cryptocurrency market today is small, Stiglitz says its growth will quickly bring regulation from authorities: “Once it becomes significant they will use the hammer.” Indeed, the U.S. Securities and Exchange Commission has begun to scrutinize the market, while regulators around the world are also creating policies to handle cryptocurrency exchanges. In fact, Stiglitz has said further regulation of bitcoin will render it useless. "My feeling is when you regulate it so you couldn't engage in money laundering and all these other [crimes], there will be no demand for bitcoin," he told Bloomberg in January. "By regulating the abuses, you are going to regulate it out of existence. It exists because of the abuses." Some financial institutions seem to disagree: In May, Goldman Sachs announced plans to open a bitcoin trading operation, which may lead other banks to follow. In June, prominent Silicon Valley venture capital firm Andreessen Horowitz announced it would launch a fund entirely dedicated to cryptocurrency tech. And U.K. bank Barclays inked a deal to support Coinbase, one of the world's largest cryptocurrency exchanges, in March. In comments that some might construe as ageist, bitcoin investors Tyler and Cameron Winklevoss, 37, told CNBC in February that the technology is something an older generation may not understand. In addition to Stiglitz, financial stalwarts such as , International Monetary Fund head and J.P. Morgan CEO have all criticized bitcoin. So has Microsoft billionaire Bill Gates. "The criticisms are just a failure of the imagination," said Tyler Winklevoss. Previously, Stiglitz has argued in favor of the U.S. moving transactions and payments to a more digital system that is open and transparent. "There is a global framework for both corruption and tax evasion and tax avoidance," he said at the World Economic Forum's annual meeting in Davos in 2017. “I believe very strongly that countries like the United States could and should move to a digital currency ... so that you would have the ability to trace this kind of corruption. There are important issues of privacy, cyber-security, but it would certainly have big advantages.” But, that doesn't mean it should be bitcoin. "I'd like us to move more towards an electronic payments [system] but you don't need a bitcoin for that," Stiglitz told Bloomberg in January. Bitcoin's market cap was near $116 billion Monday afternoon, according to data from CoinMarketCap.com. A single bitcoin's price traded at just under $6,700, according to Coindesk. Don't miss: Billionaire Bill Gates once got bitcoin as a birthday present — here's what he did with it Like this story? Subscribe to CNBC Make It on YouTube!

https://www.cnbc.com/2021/07/08/how-many-workers-will-be-returning-to-offices-and-how-often.html

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Tyler Technologies

The latest numbers on how many workers will be returning to offices, and how often

watch now Americans are heading back to work, and into offices, but how many times a week and how many co-workers will share the in-person? A new survey from CNBC canvassing executives across top positions at major U.S. companies indicates that the hybrid work model is here to stay, but will fall short of becoming a dominant mode of employment. Under half (45%) of companies expect to lead with a hybrid workforce model in the second half of 2021, versus roughly one-third (32%) that indicated an "in-person first" employment model will be the situation. While the Covid-19 pandemic is far from over as a global public health and economic crisis — the death toll has now exceeded 4 million with the Delta variant ravaging countries including India — the U.S. economy and employers have been planning as if the worst is behind the country. Employee health & wellness (84%) and employee productivity (72%) were the most likely to be described as "very important" to work plans, according to the survey. Those were followed by access to talent (58%) and aligning employees with a corporate mission (58%). Only 12% of executives cited real estate costs as "very important." Early on in the pandemic, many forecasts cited potential cost savings for employers as a motivating factor for hybrid office plans. But cost, whether real estate or technology, was not among the top factors cited by executives responding to the CNBC survey. Fifty members of the CNBC Global CFO Council, Technology Executive Council (TEC) and Workforce Executive Council (WEC) responded to this special tri-council survey, which was conducted from June 18-29, 2021. For those who depend on travel as a factor of their work performance, structural inefficiencies can take a measurable toll on their productivity. EschCollection | Getty Images As companies set post-Covid work plans, employee productivity has been a priority. "The phenomenon that we've seen in the last 12 months … I call this hyper-productivity gone wrong," Tsedal Neeley, a professor of business administration at Harvard Business School, told CNBC's Tyler Mathisen at at an April CNBC Workforce Executive Council Member Forum. "We're working so much, we're producing, we're producing, we're substituting our commute times with more hours throughout the day and eventually we hit a wall. We are stressed. We are burned out and we start to feel negative about our work, our teams, and our organization." 'Very important' factors in post-pandemic work model Employee health and wellness: 84% Employee productivity: 72% Access to talent: 58% Aligning workforce plan with mission: 58% Diversity, equity and inclusion: 50% Cybersecurity: 38% Real estate/facilities costs: 38% Technology costs: 8% Source: CNBC tri-council survey, June 2021 No Covid vaccine requirement In addition, the majority of companies (70%) will not be requiring employee vaccination. However, companies are working with experts to understand how they can better encourage non-vaccinated workers to receive a Covid shot. Employers can take a "softer approach," Katy Milkman, a professor at The Wharton School of the University of Pennsylvania, recently told the CNBC Workforce Executive Council, by emphasizing vaccines belong to employees, based on the findings from psychological research that people more highly value something they feel is their own. Reserving vaccine appointments can also help as convenience does play a role in at least some vaccine hesitation. "Just communicating that a vaccine is reserved for you can increase vaccination rates substantially at very little cost," Milkman said. Productivity and hybrid work Other recent research shows hybrid is the preferred model, with a Mercer survey from May that found 70% of companies saying a blend of in-person and remote working will be the new normal. Virtual-first or a fully remote model was cited by only 6% of employers in the Mercer research, and was similarly low in the CNBC survey, "For many employers, despite the stressors of Covid, they have experienced increases in engagement and productivity," said Lauren Mason, principal in Mercer's career business. "Continuing to offer flexibility on a permanent basis is viewed as a way to sustain high levels of engagement and productivity." There remain concerns among top work experts over whether hybrid work models will succeed, with some arguing that hybrid can be worse than all-remote, and in-person office plans potentially conceived in ways that are no better. There also have been concerns that "pandemic fatigue" has hurt remote worker productivity, but employee productivity remains high across these companies, according to the survey. Only 16% saying worker productivity has decreased compared to earlier in the pandemic. Productivity has plateaued for many employers, though, with 44% saying it is about the same as earlier during Covid-19, and only 14% saying it has increased "a lot." Most companies will be adding remote-only positions regardless of exact workforce model, with 54% saying that "some" of the positions they currently have open are remote; 10% said "most" open positions are remote. "There's likely a mismatch between what employers are planning to offer and what employees expect when it comes to full-time remote working," Mason said. "Given the extremely competitive talent market and the heightened voluntary turnover that many employers are experiencing, it is imperative employers evaluate their plans, and ensure they balance both the needs of their workforce with the needs of the business." Employer-employee divide

https://www.cnbc.com/2019/05/09/cramers-lightning-round-zebra-tech-is-a-fast-grower-we-champion.html

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Tyler Technologies

Cramer's lightning round: Zebra Technologies is a kind of fast grower we like

Zebra Technologies Corp. : "It's a fast-growing company. We've championed it ever since they made the acquisition not that long ago. This is [CEO] Anders Gustafsson. You can look at his excellent interview where I thought he handled himself well. Yes, they did not make the quarter as people wanted, but I'm sticking by it because barcode technology is, again, the way of the future, other than when you're dealing with Etsy , which doesn't care for it." EQM Midstream Partners LP : "Anyone of these that has higher than a 10% yield, let me tell you something: they are vulnerable. I'm gonna have to say don't buy." Exelixis Inc. : "We have liked it. Good spec. They do kidney cancer, it's incredibly hard to solve kidney cancer. I know that, but I know that if they do break through it, it's gonna be incredible. So let's hold on to that." Trade Desk Inc. : "Trade Desk just had a remarkable run. It's one of the highest-valued stocks in the world ... I'm not worried about Trade Desk. Let's see if anybody downgrades it on Monday or Tuesday, though." Cisco Systems Inc. : "I think [CEO] Chuck Robbins is doing a terrific job. I know the stock has moved a lot, so therefore everything is vulnerable. We actually made a little trim the other day for ActionAlertsPlus.com. It has moved up so much, and I felt that bulls make money, bears make money, and hogs" get slaughtered. Sunrun Inc. : "I'm not in favor of any of the solar plays right now. It's had a very big run. I'm always afraid that something's gonna happen ... Let's just say it's too hard for me."

https://www.cnbc.com/2015/09/22/cramer-an-unknown-stock-screaming-to-be-bought.html

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Tyler Technologies

Cramer: An unknown stock screaming to be bought

In the current market environment, Jim Cramer knows that it is very hard to find new stocks that are roaring higher. That is why the "Mad Money" host decided to go off the charts to speak with Bruce Kamich, a market technician who is a professor at Baruch College and colleague of Cramer's at RealMoney.com. Kamich has found a stock that has been on fire and could keep skyrocketing. Chances are, investors may have not heard of this stock before. Tyler Technologies is the country's largest provider of integrated software and information technology systems used exclusively by the public sector. It helps cities, states, counties, school districts and other local government entities run more efficiently. Last week, Kamich took a look at the weekly chart of Tyler and was stunned at what he saw. "It's the kind of chart that jumps out at you and screams 'buy me,'" Cramer said.

https://www.cnbc.com/2019/10/25/jim-cramers-mad-money-recap-stock-picks-oct-25-2019.html

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Tyler Technologies

Everything Jim Cramer said about the stock market on 'Mad Money,' including next week's earnings, American Airlines CEO, Honeywell spinoff

watch now CNBC's Jim Cramer on Friday said the slate of earnings reports he saw this week gave him a positive feeling about the week ahead. He breaks down what quarterly reports he'll have his eye on. The "Mad Money" host also sits down with American Airlines CEO Doug Parker to find out how the company is moving forward with a cloud still hanging over Boeing's 737 Max airplane. Later in the show Cramer assesses the results of Honeywell's spinoff of its auto parts and connected-home businesses, a year later. On the horizon: Another week of earnings reports deluge Boeing owes American Airlines, CEO Doug Parker says Doug Parker, CEO of American Airlines Adam Jeffery | CNBC American Airlines is determined to make Boeing shareholders pay the price for flight disruptions caused by the airplane manufacturer's ongoing 737 Max dilemma, CEO Doug Parker told CNBC. One day after American Airlines reported mixed results in its third quarter, Parker doubled down on his belief that Boeing should be responsible for shortfalls related to the worldwide grounding of the 737 Max jet model following two fatal crashes. American's fleet includes 24 of the jets, and the carrier was in line earlier this year to order 76 more from Boeing. "The reality is this: We've already borne all sorts of damages to our customers, to our team and to our shareholders," he said in an interview with Cramer. "Certainly the shareholder piece should be borne by the Boeing shareholders, not the American Airlines shareholders." Winners and losers in Honeywell 2018 spinoff Darius Adamczyk, CEO of Honeywell Adam Jeffery | CNBC Company breakups can unlock value for shareholders, but not all spin-offs are created equal, Cramer said. Honeywell International spun off its auto parts division Garrett Motion and home systems business Resideo Technologies about a year ago, which allowed the manufacturer to focus on the more consistent aerospace, non-residential construction and industrial software markets. That move is paying off for Honeywell, the host said. "Honeywell's a very smart company, run by the brilliant Darius Adamczyk, and you don't want to buy what he's selling," the host said. "If he didn't want exposure to autos and climate control here, then maybe you shouldn't want it either." Improving the economy by investing in women Sallie Krawcheck, CEO of Ellevest. Adam Jeffery | CNBC The world of financial services isn't as gender-inclusive as it should be, and Wall Street insider Sallie Krawcheck is trying to change that. The former Citigroup CFO is trying to catalyze a change with Ellevest, a digital investing and wealth management company that she co-founded. It was No. 45 this year on CNBC's Disruptor 50 List. "About the most powerful thing you can do to help a society and economy is get more money in the hands of women," Krawcheck told Cramer. Cramer's lightning round

https://www.cnbc.com/2019/10/17/jim-cramer-mad-money-recap-stock-picks-oct-17-2019.html

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Tyler Technologies

Everything Jim Cramer said about the stock market on 'Mad Money,' including earnings, trade deals, Netflix and Arrowhead Pharmaceuticals CEO

watch now CNBC's Jim Cramer explains why some stocks were able to rally after their companies reported quarterly earnings results that were "not as bad as feared." The "Mad Money" host also signals to investors that it's time to start playing stocks as if a trade deal with Canada and Mexico could be soon finalized, on top of more progress in trade talks with China. Later in the show he makes case to ring the register on Netflix's shares and sits down with Arrowhead Pharmaceuticals' CEO to learn about what projects the gene therapy company is working on. Not-as-bad-as-feared earnings relief Traders work on the floor of the New York Stock Exchange. Getty Images CNBC's is noting an emerging theme early in this earnings season: Several companies have missed expectations in their quarterly reports, but their stocks rallied anyway. That kind of action can be found in enterprises covering the railroad, manufacturing and health-care industries whose shares rose on "not-as-bad-as-feared" results, he said Thursday. "All of these not-as-bad-as-feared quarters are good news for shareholders who haven't been shaken out by the all the darned naysayers," the "Mad Money" host said. "More importantly, they're a reminder that execution matters." If Larry Kudlow is right, expect a big rally Jim Cramer Scott Mlyn | CNBC Cramer said that resolutions to a pair of major trade issues would be a boon to the stock market, arguing it's time investors factor positive conclusions into their strategy. "What happens to the stock market if Larry is right and we get a new trade deal with Mexico and Canada before Thanksgiving and we see concrete results from our negotiations with China?" Cramer said, referring to White House top economic advisor Larry Kudlow. "In that case, I think stocks will blast right through these levels and go much higher." Don't buy Netflix, don't short it. Just take some profits Streaming player menu screen featuring Netflix, Amazon, Vudu, Hulu, and Redbox Instant. Getty Images investors should "ring the register" and cash in on some profits after the stock bounced on its mixed earnings report, Cramer said. The streaming giant soundly topped earnings estimates in the third quarter, but the investing guru isn't convinced the "better-than-feared" numbers were strong enough to take the company out of the penalty box given another period of subscriber woes ahead of the coming deluge of new players in the space. Netflix shares rallied nearly 2.5% to $293.35 in Thursday's session. The stock closed about $15 below its intraday trading high. "You've got to understand what Netflix is up against because when you look at these numbers in context I think they're pretty discouraging," he argued. "I wouldn't short Netflix here, too risky, but until we see how they handle and , I absolutely wouldn't want you to own it, either." Silencing genes that cause disease Pgiam | E+ | Getty Images Cramer sits down with Arrowhead Pharmaceuticals CEO Christopher Anzalone to hear about the gene therapy company's partnerships with Johnson & Johnson and Amgen . "I think that what they saw was a really powerful technology that, as you say, can silence genes that cause disease," Anzalone said about the endeavors. "It is a hyper-specific process whereby we can silence a single gene and it is now a validated technology. So we know it works, we know we can do it in a well-tolerated manner and, to the extent that we choose the right genes, we could have a substantial effect on people's lives." Cramer's lightning round

https://www.cnbc.com/2019/08/05/stocks-making-the-biggest-moves-premarket-tyson-foods-target-berkshire-jp-morgan-more.html

TSN

Tyson Foods

Stocks making the biggest moves premarket: Tyson Foods, Target, Berkshire, JP Morgan & more

Check out the companies making headlines before the bell: Tyson Foods – Tyson earned an adjusted $1.47 per share for its fiscal third quarter, 5 cents a share above estimates. Revenue was below forecasts, however, under pressure during the quarter due to increased hog costs. Poultry results were mixed, but Tyson did see strength in beef and prepared foods. Alibaba – Jefferies began coverage on the China-based online retailer with a "buy" rating, noting dominant leadership and execution. The firm also said Alibaba will benefit in the short term from seasonal trends. Target – The retailer's stock was upgraded to "buy" from "hold" at Deutsche Bank, which said Target is on a profitable growth pace that can be sustained and that the stock is attractively valued. Berkshire Hathaway – Berkshire reported quarterly profit of $2.50 per share, missing consensus estimates by 8 cents a share. Warren Buffett's company also saw revenue fall below Wall Street forecasts. Berkshire's results were hurt by weaker results at insurer Geico and lower cargo volumes at Berkshire's BNSFT rail operation. HSBC – HSBC fired CEO John Flint after only 18 months, reportedly over differences over strategy execution. Chairman Mark Tucker told Reuters a change was needed to accelerate progress in the bank's strategic priorities. Fox Corp. – Fox will buy online finance broker Credible Labs for $397 million in cash, as the broadcasting company searches for new sources of growth after selling film and TV assets to Walt Disney earlier this year. JPMorgan Chase – The bank will lead an upcoming debt offering by The We Company, parent of workspace provider WeWork. Reuters reports that this puts JPMorgan in position to lead an initial public offering for WeWork later this year. Facebook – Facebook plans to rebrand both Instagram and WhatsApp to make it clearer that they are Facebook-owned products, according to a CNET report. Sohu.com – Sohu reported an adjusted second quarter loss of $1.27 per share, wider than the loss of $1.11 per share anticipated by Wall Street analysts. The China-based internet firm also saw revenue come in below forecasts, with a drop in brand advertising revenue pressuring results. Uber Technologies – Uber is unlikely to be successful in its attempt to get a new five-year license from London's transport regulator, according to a Sky News report. Uber is said to be expecting its application to result in another short term license of less than two years. Dollar Tree – Deutsche Bank downgraded the discount retailer to "hold" from "buy," saying the risk/reward profile is now balanced and noting renewed concerns about the impact of tariffs.

https://www.cnbc.com/2019/05/06/tyson-foods-will-launch-meatless-products-this-summer.html

TSN

Tyson Foods

After exiting Beyond Meat, Tyson Foods will launch meatless products this summer

Following Tyson's announcement, Beyond Meat's stock opened down 6% before rebounding as high as 7% against steeper losses in the broader market. The Jimmy Dean owner sold its stake in Beyond before the company went public, citing its desire to produce vegetarian meat substitutes under its own umbrella of brands. CEO Noel White told analysts on the quarterly conference call Monday that the plant-based product will launch this summer on a limited basis, with a wider rollout in October and November. After exiting Beyond Meat , Tyson Foods said that it will roll out its own plant-based meat substitutes beginning this summer. Beyond made the strongest market debut so far this year on Thursday, surging 163%. The stock has a market value of $3.97 billion, dwarfed by Tyson's own market value of $22.66 billion. Tyson shares gained more than 2% Monday. Despite the difference in market value, Beyond and other makers of plant-based meat alternatives — such as Impossible Foods — pose a threat to Tyson. Beyond Meat's CEO, Ethan Brown, told CNBC that the company is trying to capture the meat industry's customers. Its gluten- and soy-free products are meant to more closely resemble and taste like meat than previous iterations of veggie burgers. Although the number of vegans and vegetarians in the U.S. has remained relatively stable over the last decade, more Americans are trying to cut down on their meat consumption and incorporate more plant-based foods in their diets. The U.S. meat substitute market is worth about $1.44 billion, according to Euromonitor International data. By 2023, the market is expected to grow 74% to $2.5 billion. But it can be difficult for the upstarts to keep up with demand. Impossible Foods apologized last week for shortages, while Beyond had similar struggles in 2017 and 2018. Beyond has said that it will use some of the proceeds from its IPO to invest in its manufacturing facilities.

https://www.cnbc.com/2019/04/24/tyson-foods-sold-its-stake-in-alternative-protein-company-beyond-meat.html

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Tyson Foods

Tyson Foods sold its stake in alternative protein company Beyond Meat

Packages of Beyond Meat Inc. beef crumbles are displayed for a photograph in Tiskilwa, Illinois, on Tuesday, April 23, 2019. Reportedly, Beyond Meat no longer wanted the Tyson Ventures representative to attend its board meetings, despite his attendance being a contractual right. Relations between the two companies had become tense, particularly after Tyson CEO, Noel White, announced that the company will be creating its own plant-based protein products last February, multiple sources confirmed to Axios. Tyson Foods sold its stake in Beyond Meat, an alternative protein company, set to go public next week. A part of the deterioration of the relationship was due to fear of competition between the two companies; Tyson was interested in the alternative protein market especially after seeing its quick-serve and broader restaurant sector potential, Axios reported. The other concern was that Tyson would interfere with potential mergers or acquisitions, yet the nature of the interference is unclear, the report said. Tyson Foods confirmed the sale in a statement to CNBC. "Tyson Ventures is pleased with the investment in Beyond Meat and has decided the time is right to exit its investment. Beyond Meat provided an early opportunity for Tyson Ventures to invest in plant-based protein products that many consumers are seeking. We wish the leadership of Beyond Meat all the best," the statement said. "Tyson Foods continues to be committed to providing alternative protein as a choice for consumers and recently announced the creation of a new business focused on combining our creativity, scale and resources to make great tasting protein alternatives more accessible for everyone. We plan to launch an alternative protein product soon with market testing anticipated this summer," the statement added. It remains unclear who the buyer is or what the sale price was as there ceases to be a new shareholder with a 5% stake in the company. It is also not known whether Tyson decided to sell its stake on its own or whether it was at Beyond Meat's request. Tyson Foods was still listed on an April 15 amended IPO filing, but did not appear on the filing submitted on Monday, according to Axios. Having invested a total of $34 million between 2016 and 2017, Tyson Foods had a 6.5% ownership stake in Beyond Meat last November when the latter filed for its IPO. On Monday, Beyond Meat said it was hoping to raise $183.8 million in its debut, which would give it a valuation of $1.21 billion. At that valuation, Tyson's stake would have been worth just under $79 million.

https://www.cnbc.com/2021/12/08/beyond-meat-taps-tyson-foods-veterans-as-it-prepares-for-fast-food-growth-next-year.html

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Tyson Foods

Beyond Meat taps Tyson Foods veterans as it prepares for fast-food growth next year

In this article TSN BYND Follow your favorite stocks CREATE FREE ACCOUNT Packs of Beyond Meat plant-based burger patties are displayed for sale. Paul Yeung | Bloomberg via Getty Images Beyond Meat has poached two industry veterans from Tyson Foods for executive positions as it prepares for high-profile launches next year. Doug Ramsey will assume the role of chief operating officer. He spent three decades at Tyson, overseeing its poultry and McDonald's businesses. His experience with the fast-food giant will be an asset for Beyond, which signed a three-year global deal with McDonald's earlier this year. Beyond also has partnerships with Taco Bell owner Yum Brands and PepsiCo . Beyond's former COO, Sanjay Shah, left the company in September after less than two years in the role for a position with delivery service Gopuff. Shah's resume included time at Tesla and Amazon but no food or beverage companies. In addition to Shah's successor, Bernie Adcock will join as chief supply chain officer, a new role for Beyond, and will report to Ramsey. He also worked at Tyson for more than 30 years, focusing on operations and supply chain management. "[Ramsey and Adcock] understand better than almost anybody the large-scale production of protein at a cost structure that everyday consumers can afford," Beyond Meat CEO Ethan Brown said in an interview. 'Growth on the table' "Everything we have going, whether it's the partnership with McDonald's, with Yum, with PepsiCo, there's an enormous amount of growth on the table, and we need to make sure we have the very best in operational and supply chain capabilities available to us and our customers," he added. Tyson and Beyond have a history. Before Beyond's initial public offering, Tyson was an investor in the company but sold its stake as it prepared to release its own line of meat alternatives. Shares of Beyond closed Tuesday up nearly 6% at $71.25. The stock has fallen 43% so far this year, dragging its market value down to $4.5 billion. Investors have punished the stock as slowing grocery demand has failed to offset the Covid pandemic's damage to its food service business. Short interest has also doubled since July, according to FactSet data, with some 36% of shares sold short. In its most recent quarter, the company also faced operational and supply chain issues that weakened its sales. U.S. revenue fell 13.9% to $67.5 million during those three months. Brown is more optimistic about next year, but the company hasn't provided a forecast yet for 2022. For the fourth quarter, Beyond is predicting net sales of $85 million to $100 million with the expectation that operational challenges will continue to weigh on its results. "I think what we're going to see next year gives us an opportunity to really speak to the consumer again, given the number of launches that we're going to have and the potential to create excitement in the retail space because of those activities," Brown said. Launches with McDonald's, PepsiCo ahead McDonald's is running an operational test of its McPlant burger made with Beyond's beef substitute in a handful of U.S. restaurants and has begun selling the meat-free entree in several international markets. PepsiCo CEO Ramon Laguarta told CNBC in September that the company is hoping to release new plant-based food and beverages made through its joint venture with Beyond in early 2022. A sign promoting McDonald's "PLT" burger with a Beyond Meat plant-based patty at one of 28 test restaurant locations in London, Ontario, Canada October 2, 2019. Moe Doiron | Reuters As inflation concerns hit home for both companies and consumers, rising prices give Beyond more room to run with its price parity goals of underpricing its animal meat competitors in at least one type of meat by 2024, Brown said. Beef prices are surging while the company is looking to strip costs from its system, he said. "Right now we have the opportunity to go back, particularly in the U.S. and create a much more efficient production system," Brown said, adding, "Overall, the inflationary prices you're seeing, pressures you're seeing in the protein market, will favor us." And as the coronavirus omicron variant remains an unknown for the future, the company is prepared to face potential challenges and rely on maximizing existing product offerings, Brown said. The company has introduced more than a dozen retail and food service products in the U.S. and abroad over the last two years. The pandemic whipsawed its business, first boosting retail sales as consumers pantry-loaded, but then hurting its food service sales as restaurants shuttered. "I think that what we'll do [in the face of pandemic-related challenges] is emphasize the product we've already commercialized, because trying to scale during the pandemic and introduce new products can be challenging," he said.

https://www.cnbc.com/2019/02/05/tyson-foods-in-talks-to-buy-foster-farms-for-2-billion.html

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Tyson Foods

Jimmy Dean parent Tyson Foods has held talks to buy Foster Farms for $2 billion

A bag of Tyson Foods Inc. frozen chicken is arranged for a photograph in Tiskilwa, Illinois, U.S., on Thursday, May 5, 2016. Tyson is scheduled to release earnings figured on May 9. Meat processor Tyson Foods has held talks about buying privately owned California-based Foster Farms for roughly $2 billion, people familiar with the situation tell CNBC. The two sides are disagreeing over price, said these people, and it is possible the talks fall apart. If a deal is consummated, it is still at least several weeks away. Shares of Tyson briefly dropped nearly 2 percent on news of the talks, but quickly rebounded to $61.64 a share, off less than 1 percent. Tyson, one of the biggest food companies in the U.S. by sales, supplies meat to restaurants and other food-service customers. It also sells branded chicken, beef and pork under labels such as Jimmy Dean, Hillshire Farm and Golden Island Jerky. The deal talks come just months after Tyson closed its $2.16 billion acquisition of McDonald's meat supplier Keystone Foods, which further expanded its capabilities in Asia. An acquisition of a U.S. brand such as Foster Farms, which makes branded chicken, turkey and frozen foods, would therefore mark a mild change in course for Tyson. It would instead echo a strategy it pursued in 2014, with its $7.7 billion acquisition of Hillshire Brands, which brought with it Jimmy Dean sausages and Ball Park hot dogs. Tyson executives were asked about their global M&A strategy during the company's November earnings call. Of particular concern to one analyst was international expansion in the context of geopolitical uncertainty and currency fluctuations. In response, CEO Noel White said, "We're forecasting about 90% of the growth in global protein demand will take place outside the United States. We do plan to participate in that demand growth. ... My priority is no different than ... my predecessors [which have been] ... to grow our business in prepared foods, value-added products and in the international market, simultaneously working to provide stability with more of the commodity portions of our business." White took over as CEO on Sept. 30, 2018, after serving as Tyson's group president of beef, pork and international. Foster Farms was founded in 1939 by Max and Verda Foster. It owns farms in California and Louisiana and also works with 30 family-owned farms in Washington and Oregon. In 2016, it named Laura Flanagan its CEO, taking over for Ron Foster, grandson of the company's founder. Tyson, founded in 1935 by John W. Tyson, generated about $40 billion in sales last fiscal year. Shares of the company, which has a market capitalization of $18 billion, are down 15 percent over the past year. The people requested anonymity because the talks are confidential. Tyson said it does not comment on rumors or speculation. A spokesperson for Foster Farms told CNBC that, as a policy, it "never comments on speculated mergers and acquisitions activity." The spokesperson added that, "While inquiries and rumors have come and gone for decades, Foster Farms has thrived as a family-owned company for 80 years. We are fully confident in our future success as a stand-alone company." — CNBC's David Faber contributed reporting

https://www.cnbc.com/2022/05/03/tuesdays-top-wall-street-calls-nvidia-netflix-apple-mgm-tyson.html

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Tyson Foods

Here are Tuesday's biggest analyst calls of the day: Nvidia, Netflix, Apple, MGM, Tyson Foods & more

Here are Tuesday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said "green shoots are emerging" as the latest Apple App Store data shows revenue growth accelerating. "April App Store net revenue growth accelerated to 8% Y/Y, as strength in China offset weaker trends in the US." Wedbush downgrades DocuSign to underperform from neutral Wedbush said it sees tough growth ahead for the e-document signature company. "That said, we are downgrading our opinion of DocuSign from NEUTRAL to UNDERPERFORM as this WFH beneficiary could see difficult growth ahead not factored into shares at current prices in our opinion." Piper Sandler downgrades Kellogg to underweight from neutral Piper said that its survey checks show consumers are cutting back on basics like cereal. " Kellogg lacks better current momentum (following disruptions from its 2021 strike) at a time when it looks likely to face accelerated downtrading, which could potentially make it harder to regain share." Read more about this call here. Piper Sandler downgrades Chegg to neutral from overweight Piper said that investors need to see a "steady trend of beat/raises" in order to gain confidence in the stock. "In our view, we expect Chegg to remain in the penalty box in the near/medium term as this is the second time that CHGG has lowered guidance in six months. Investors will need to see a steady trend of beat/raises and enrollment stability to gain confidence in the stock." Oppenheimer upgrades JPMorgan Chase and Morgan Stanley to outperform from perform Oppenheimer upgraded several banks on Tuesday, saying investors should buy the dip. "We say that investors should take advantage of this weakness and are upgrading JPM , MS, and SIVB to Outperform from Perform, three strong companies that we have long admired but until recently thought were relatively more fully valued." William Blair adds Planet Fitness and BJ's to the focus list William Blair added the exercise fitness company to its focus list, noting it's well positioned for gains going forward. The company also added BJ's to its focus list, citing an attractive valuation. "We added BJ's Wholesale Club to the Consumer Near-Term Focus List, reflecting our expectation for strong underlying growth in the business and an attractive valuation. ... In the near term, we believe Planet Fitness is well positioned to meet our above-consensus first-quarter estimates for revenue growth of 74% and a more than threefold increase in adjusted EPS on accelerating same-store sales growth to 18.0% > Evercore ISI reiterates Disney as outperform Evercore said it sees Disney as a second half of 2022 story. "More importantly, the content slate will begin to ramp in FQ4, with content from marquee Disney brands doubling in FY22 Piper Sandler downgrades Tyson Foods to underweight from neutral Piper said in its downgrade of Tyson that it conducted several survey checks which show that consumers continue to cut back on meat. "Consumers we survey say they are cutting back on basics; meat most at risk. Of consumers we surveyed, 42% expect to cut back spending on basic goods as result of higher inflation and concerns about finances." Read more about this call here . Morgan Stanley resumes Nvidia as equal weight Morgan Stanley reinstated coverage of Nvidia after a period of restriction, noting it has concerns about a deceleration in gaming. " NVDA remains one of the best growth names in the semis space, carving out a strong, differentiated cloud AI/ML business and leading position in gaming. That said, we are concerned about deceleration in gaming and high valuation vs. peers, which keeps the bar raised and multiple at risk." Read more about this call here. Wells Fargo downgrades Carvana to equal weight from overweight Wells Fargo said it sees a lack of near-term catalysts for the online car seller. "But as industry headwinds build, we await further evidence that CVNA' s considerable progress from FY19-21 can be replicated in both good and unfavorable macro backdrops." Bank of America downgrades Charter to neutral from buy Bank of America downgraded the cable company due to broadband growth concerns. "The cable industry currently has ~70% share of U.S. broadband households and as the incumbents, Charter and cable are likely to cede share to these new entrants in coming years as FWA and fiber deployments and marketing accelerate." Atlantic Equities downgrades Colgate-Palmolive to neutral from overweight Atlantic Equities said in its downgrade of Colgate that it sees a "challenging operation backdrop." "With shares trading above 20-year averages on both absolute and relative multiples, and considering the challenging operational backdrop, we are moving our rating from Overweight to Neutral." Read more about this call here . JPMorgan resumes MGM as overweight JPMorgan said should buy the dip on shares of MGM as the Vegas recovery continues. "We like the 15% pullback to the low $40s share price levels to play for a continued recovery in Las Vegas, particularly a rebound in mid-week group/convention business, where hotel pricing remains strong despite a mixed macro (higher gas/oil prices, a diminished YTD wealth effect and geopolitical concerns) and efficient use of its increasing cash hoard toward share." Read more about this call here. Benchmark reiterates Netflix as hold Benchmark said it remains skeptical of a Netflix recovery. "We view Netflix as now effectively much more of a media than tech name as other streamers are perfecting their interfaces and also have big data expertise, alongside much deeper IP libraries at studios like Disney and Warner Bros." UBS reiterates Peloton as sell UBS kept its sell rating on shares of the fitness company ahead of earnings on May 10 and said investors will be listening closely for updates on the company's new pricing strategy. "While subscriber growth guide for Q4 will be a focus when PTON reports earnings (UBSe growth of +29% vs. Street's +30%), what will matter more is management's commentary on new pricing strategy, customer acquisition cost and impact on churn rates." JPMorgan reiterates McDonald's as overweight JPMorgan said in a note on Tuesday following last week's earnings that McDonald's is key as a long-term core holding and a safe-haven stock in an "unstable world." "Solid top-line performance matched with higher cost outlook, but MCD offers relative sanctuary in unstable world." The Netflix logo is seen on its office in Hollywood, California. Lucy Nicholson | Reuters

https://www.cnbc.com/2021/09/30/tyson-foods-says-91percent-of-workforce-is-vaccinated-after-imposing-mandate.html

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Tyson Foods

Tyson Foods says 91% of workforce is vaccinated after imposing mandate

More than 90% of Tyson Foods ' 120,000-person workforce has been vaccinated after the meatpacker announced a mandate in early August. In less than two months, the company has nearly doubled the number of its workers who have been inoculated against Covid-19. The New York Times' Dealbook first reported the news. Tyson's office workers have to be fully vaccinated by Friday, while plant workers have until Nov. 1. According to the company, 91% of its workforce been vaccinated so far, with roughly the same rate for its employees who work at union plants. Employees received a $200 bonus for complying. Tyson's vaccine mandate came as new Covid cases were surging in the United States, particularly in areas with low vaccination rates. As companies encouraged workers to get vaccinated, cases have started to drop in the majority of U.S. states. Some companies, like McDonald's and Walmart , opted to impose vaccine mandates only on their corporate staff. United Airlines , which has one of the strictest policies, said Tuesday that 593 of its employees are facing termination for failing to comply with its mandate. President Joe Biden recently unveiled a plan to increase vaccination rates that would require employers with more than 100 workers to mandate inoculation or weekly testing. The pandemic has hit the meatpacking industry hard, killing at least 132 workers, according to union data. Conditions in the plants require employees to work closely together for hours at a time, making social distancing nearly impossible. Group housing and shared transportation to and from work also increase contact among workers. Outbreaks forced temporary plant closures in some instances. Shares of Tyson were down 1% in morning trading. The stock has risen 24% this year, bringing its market value to $29 billion.

https://www.cnbc.com/2023/07/22/how-to-invest-in-the-rise-of-alternative-meat-as-a-major-revolution-gets-underway.html

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Tyson Foods

A 'major revolution' is underway in the food industry. How to invest in the rise of alternative meat

There's a change afoot in the food industry. The growing global population, coupled with an increased focus on health and sustainability, has the industry looking to alternative meats. That includes plant-based products, as well as those cultivated from animal cells. "The food industry is undergoing a major revolution," Telsey Advisory Group analyst Sarang Vora wrote in a June 26 note. Over the next decade, the focus will continue shifting towards sustainable and healthy products, he said. "Furthermore, as the world feeds the growing population — estimated to reach ~10B by 2050 from ~7.8B in 2020 — the need to leverage agriscience and technology, use novel sources of protein, and innovate food products is key to our future," he added. While plant-based products are already on store shelves, cultivated meat is just getting introduced to American consumers. A select few had their first official tastes after the Department of Agriculture approved the sale of cell-cultured chicken by Good Meat and Upside Foods in June. So far, it's only been available through specific restaurant partnerships. That means the investment opportunities right now are largely in public companies that make plant-based products, although investors see plenty of opportunity down the road for cultivated meat, also known as cultured meat. The rise, fall and future of plant-based meat Plant-based meat has been around for decades. However, it saw a resurgence in the last few years in what Jordan Bar Am, a partner at McKinsey & Company who focuses on alternative proteins, dubs plant 2.0. Between 2019 and 2020, the plant-based market in the United States grew around 46%, he said. There were new products by public companies such as Tyson Foods and Kellogg, as well as from private ones. In May 2019, plant-based darling Beyond Meat went public, surging 163% on its first day of trading . The stock ultimately ended the year 202% higher than its $25 initial public offering price and continued its ascent in 2020, gaining more than 65%. Then, consumer interest in plant-based meat waned. "We found that there were a lot of people trying the product, but not a lot of people repeating the product," Bar Am explained. "It didn't taste as good as they wanted it to taste and it also was really expensive." In 2021, Beyond Meat shares tumbled nearly 48% and then sank a staggering 81% in 2022. Yet that's not the end of the story. There are still parts of the plant-based market that are growing, like fully-cooked nuggets, while others, like ground beef, are more challenged, Bar Am said. "We're at a spot now in the plant-based market where as the fervor has died down, we've seen the category getting cleaned up," he said. Meanwhile, Beyond Meat's stock has started to tick back up, gaining about 26% year to date. It is now down 38% from its IPO price. BYND ALL mountain Beyond Meat's performance since is May 2019 IPO "This is a company that's been a first mover of sorts in the space," said Alec Lucas, research analyst at Global X. The firm's AgTech & Food Innovation ETF (KROP) holds shares of Beyond Meat and invests in both agriculture technology and food innovation, the latter of which focuses on alternative proteins. "Scaling is one of the biggest issues that will face these companies, especially in the early innings," he added. "Beyond Meat is ahead of a lot of publicly traded competition." Recently, the company announced that it was expanding distribution to become available in about 14,000 stores across the U.S., including Whole Foods and Wegmans. Beyond Meat also continues to roll out new iterations of its products, such as a new version of its sausage that it claims has a "meatier" texture that it launched last month. Take a lesson from EVs For Laine Clark, innovation and entrepreneurship manager with nonprofit think tank Good Food Institute, it's not completely surprising that there has been a cooling off after plant-based foods' wild ride higher. "That's probably very natural for an industry that was exuberant, excited and growing very quickly," she said. Yet there is still an opportunity ahead, she said. She likened the plant-based phenomenon to the initial excitement around the mass production of electric vehicles. In 2009, CNET had a headline titled " 2011: The year of the electric car ," she pointed out. "What happened, of course, was that they were not practical for a lot of consumers, because the range wasn't big enough, unless you went up to the very expensive Tesla S," Clark said. "Then also charging stations weren't prevalent." Now, we're at a tipping point, with Norway, for example, seeing 80% of its new car sales being electric vehicles, she added. "I think that we're going to see the same thing where some of the products came to market a little too early, maybe some of the exuberance was a little too early," she said of alternative meat products. "We'll get past that just as we get past things all the time in new industries." McKinsey's Bar Am agrees. "If we look back at 2020, we would say we overestimated the ease at which consumer behavior changes," he said. "This is not going to be a wholesale overnight shift. This is going to be more gradual, in line with frankly, most [consumer packaged goods] categories. Food is sticky and cultural and it takes time for things to change." Still, the plant-based meat and seafood retail industry generated $6.1 billion in global sales last year, growing 8% by dollars and 5% by weight, according to Good Food Institute. Hundreds of new products also hit the shelves, and include plant-based steak, salmon and foie gras. There were also 25 new strategic partnerships in 2022, the organization said. Meanwhile, the interest in cultivated meat is also growing. There are 156 companies in the space as of 2022. Cultivated meat and seafood companies raised $896 million last year, bringing the total for the industry, since 2016, to $2.78 billion, per Good Food Institute data. $450 billion market opportunity Barclays believes cultivated meat is better positioned than plant-based products to disrupt the alternative protein landscape. "Cultured meat is more of a technology licensing story versus plant based, which is heavily reliant on consumer marketing," said Hiral Patel, Barclays' global head of sustainable and thematic research. The firm is forecasting a $450 billion market opportunity for cultivated meat by 2040, perhaps reaching 20% of the global meat market. However, manufacturing efficiency and consumer acceptance are key to reaching that market share, the firm said in a June note. Barclays' 2021 survey of 5,000 adults across five countries — the U.S., UK, China, India and Brazil — found there is an appetite for cultured meat, with two out of three saying they would consider purchasing the product. Health concerns are the main drivers, although they also highlighted sustainability and animal welfare. However, there is still a ton of work to be done and a lot of uncertainty, McKinsey's Bar Am said. As there is more confidence around the products, more talent and capital will flow into the space. That could help propel cultivated meat into a $25 billion industry by 2030, providing as much as 0.5% of the world's meat supply, McKinsey said in a 2021 report . Good Food Institute's Clark is also conservative about the sector's shorter-term impact on the overall market. "We're still being very realistic about what percentage of the overall meat market this could account for and I think it's still small within 10 years," she said. "But after that, it could be explosive." It's going to come down to infrastructure and how quickly the companies can scale, she noted. Getting the taste perfected and lowering prices is also a big factor in the products' successes, she said. "Startups have to think about what they're putting out there. It's not a race just to get to the shelf, it's a race to get the best product to the shelf," she said. Investing in cultivated meat For investors interested in getting in on the cultivated meat "revolution," it is still early stages, said Telsey's Vora. One way to get exposure is by investing in public companies that are invested in private cultivated meat ventures. Good Meat and Upside Foods are both private, although Tyson has invested in Upside Foods. Archer-Daniels-Midland also recently announced it is collaborating with Believer Meats on new ways to develop and commercialize cultivated meat products. The company also has a partnership with Good Meat. Others are biding their time. Kellogg CEO Steve Cahillane recently told Reuters at a food conference that he wasn't ruling out a possible investment, but noted the uncertainty in the sector. "Can it be scaled up in a really meaningful way? That needs to get solved," he said. However, there is a small cultivated meat company already publicly listed in the U.S. Steakholder Foods , which has a $14 million market cap, develops technology to create cultivated meat and fish products using 3D printing. STKH YTD mountain Steakholder Foods year to date Alliance Global Partners, which has a buy rating on the stock, said the rising rate environment "hasn't been kind to valuations in the space" and that is a blessing in disguise for Steakholder. "We think many of the cultured meat firms that have raised significant venture capital and may have attempted to develop their own 3D bio-printing capabilities are now unlikely to do so. It simply makes more sense, in our view, for such firms to partner/collaborate with Steakholder," analyst Ben Haynor wrote in an April note. There could also be some initial public offerings in the future, and as the industry reaches scale and price parity, there could be acquisitions by public companies down the line. There will also be a next generation of plant-based meats, according to McKinsey's Bar Am. "There will be plant 3.0 with much more sophisticated textures, processing, technology, all of that," he said. "There's some really exciting stuff out there that I think we're going to continue to see growing." In fact, experts see an eventual blurring of the lines between plant-based and cultivated meat products as more hybrid products are made. "You might have a plant-based product that incorporates cultivated fat, for instance, to get that plant-based taste parity closer, quicker," Good Food Institute's Clark said. "It's not just a straight linear line to the different success stories," she added. "We're going to see a variety and I think these much larger meat companies are very much on board, understand the urgency and just want to make sure that whatever protein people want, they can supply." It's also not just publicly-traded meat companies that may hop on board, but consumer packaged goods companies as well, Bar Am said. "You think about the current animal protein industry, it's what I call a disassembly industry — they take animals apart," he said. "Cultivated meat is a formulation industry, which actually looks a lot more like CPG. You take a bunch of ingredients and you make things." "The center of the plate is up for grabs in ways it hasn't ever been before," Bar Am said. — CNBC's Michael Bloom contributed reporting.

https://www.cnbc.com/2021/08/09/stocks-making-the-biggest-moves-in-the-premarket-sanderson-farms-us-foods-tyson-foods-and-more.html

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Tyson Foods

Stocks making the biggest moves in the premarket: Sanderson Farms, U.S. Foods, Tyson Foods and more

Take a look at some of the biggest movers in the premarket: Sanderson Farms (SAFM) – The poultry producer agreed to be acquired for about $4.5 billion, or $203 per share, by privately-held food producer Cargill and agriculture investment firm Continental Grain. The all-cash deal represents an 11.3% premium over Friday's closing price for Sanderson Farms. Sanderson shares surged 8.3% in the premarket. Tesla (TSLA) – Tesla gained 1.6% in the premarket after Jefferies upgraded the stock to "buy" from "hold," based on what the firm feels is more efficient capital deployment and an improved ability by auto manufacturers to increase profit margins over time. U.S. Foods (USFD) – The foodservice distributor's shares rallied 6.5% in the premarket after beating Street forecasts with its second-quarter profit and revenue. U.S. Foods earned 58 cents per share, 22 cents a share above estimates, helped by strong demand for its products and services as the industry recovers from the pandemic. Tyson Foods (TSN) – The beef and poultry producer reported quarterly earnings of $2.70 per share, well above the consensus estimate of $1.62 a share. Revenue also came in above analysts' projections. Results got a boost from strong consumer demand as well as restaurant reopenings. Tyson shares rose 2.6% in premarket trading.ovid Norwegian Cruise Line (NCLH) – A federal judge ruled that the cruise line can ask passengers for proof of Covid-19 vaccination, temporarily blocking a Florida law banning that practice. Berkshire Hathaway (BRK.B) – Berkshire shares rose 1.2% in premarket trading after it reported a 7% increase in second-quarter earnings. Berkshire's results were helped by a rebound across its businesses including its railroad and energy companies. Veoneer (VNE) – The auto parts maker said it would begin talks with Qualcomm (QCOM) about the chip maker's takeover bid, which topped a bid from automotive software maker Magna International (MGA) that had been previously approved by Veoneer's board. Qualcomm's bid is worth $4.6 billion, compared to the approximately $3.8 billion value of Magna's deal. Veoneer slid 3.3% in premarket trading. Exact Sciences (EXAS) – The molecular diagnostics company has approached genetic testing firm Invitae (NVTA) about a possible merger, according to people familiar with the matter who spoke to Bloomberg. The people said the two sides are not in active talks and that a seal would likely be a low-premium, all-stock transaction. Invitae surged 7.2% in the premarket while Exact Sciences fell 2%. Dollar Tree (DLTR) – The discount retailer was downgraded to "hold" from "buy" at Deutsche Bank, which expressed concerns about the impact of increased freight and labor costs on profit margins. Dollar Tree lost 1.5% in premarket action. Exxon Mobil (XOM), Chevron (CVX) – These and other energy companies are under pressure as oil prices slide following new China virus measures as well as a U.N. report on the impact of climate change. Exxon fell 1.3% in premarket trading, while Chevron was down 1.6%. Victoria's Secret (VSCO) – JPMorgan Chase initiated coverage on the women's apparel retailer with an "overweight" rating, noting its dominant market position in lingerie and nightwear and expansion opportunities in swimwear. Victoria's Secret added 1.6% in the premarket. NetEase (NTES) – The China-based online services company surged 2.3% in premarket trading, following a Reuters report that it has delayed a planned $1 billion Hong Kong initial public offering of its Cloud Village music streaming service. People with direct knowledge of the matter said the delay was due to volatile trading in China's major tech companies.

https://www.cnbc.com/2021/08/03/tyson-foods-will-require-its-us-workforce-to-get-vaccinated.html

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Tyson Foods

Tyson Foods will require its 120,000 U.S. workforce to get vaccinated

The exterior of a Tyson Fresh Meats plant is seen on May 1, 2020 in Wallula, Washington. Over 150 workers at the plant have tested positive for COVID-19, according to local health officials. Meatpacker Tyson Foods announced Tuesday that it will require its 120,000 U.S. employees to be vaccinated fully this year and will pay them a $200 bonus to do so. The company said 56,000 U.S. employees have been vaccinated. Office workers face a deadline of Oct. 1 to be vaccinated fully, while plant employees have until Nov. 1. The Centers for Disease Control and Prevention said Monday that the seven-day average of new infections surpassed last summer's peak, before the country had access to vaccines. U.S. Covid cases, based on a seven-day moving average, reached 72,790 on Friday, according to the agency's data. The delta variant is fueling the surge in cases, especially in areas with low vaccination rates. "It is abundantly clear that getting vaccinated is the single most effective thing we can do to protect ourselves, our families and our communities," CEO Donnie King said in a memo to employees. Tyson plans to give front-line workers who get vaccinated the $200 bonus, in addition to the current policy of providing up to four hours of pay for getting inoculated outside of work or through an external provider. The extra pay, as well as the deadline, are subject to talks with unions who represent those employees. The United Food and Commercial Workers, which represents 24,000 Tyson workers, said that it will be meeting with Tyson in the coming weeks to discuss the mandate and make sure that the workers' rights are protected. The union said that it encourages workers to get vaccinated but noted several concerns about the company's vaccine mandate. "We believe the FDA must provide full approval of the vaccines and help address some of the questions and concerns that workers have," UFCW International President Marc Perrone said in a statement to CNBC. "Additionally, employers should provide paid time off so that their essential workers can receive the vaccine without having to sacrifice their pay, and can rest as needed while their body adjusts to the vaccine and strengthens their immune system to fight off the virus." Tyson said it will allow exceptions to the vaccine mandate for medical or religious reasons. Throughout the pandemic, many meat and poultry processing facilities have been forced to close temporarily after outbreaks of Covid-19 swept through their workforce. Conditions in the plants require employees to work closely together for hours at a time, making social distancing nearly impossible. Group housing and shared transportation to and from work also increase contact among workers. At least 132 meatpacking workers who belonged to the UFCW have died after contracting Covid according to the union.

https://www.cnbc.com/2024/02/02/japans-aozora-bank-shares-hit-near-3-year-lows-on-us-commercial-property-losses.html

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Japan's Aozora Bank hits near 3-year lows as bad U.S. property loans prompt loss forecast

The Aozora Bank Ltd. headquarters in Tokyo Japan, on Thursday, Feb. 1, 2024. Japan's Aozora Bank became the second lender in a span of hours to surprise investors with losses tied to US commercial property, sending shares down by the limit and heightening concern over global banks' exposure to souring real estate bets. The bank's Tokyo-listed shares fell for a second day, tracking losses in U.S. regional lenders overnight. Aozora, which had earlier forecast a profit, saw its shares plunge by as much as 18.5% to their lowest levels since February 2021 in early Friday Tokyo trade — the Nikkei 225 benchmark was up 0.5%. Aozora Bank shares hit near three-year lows Friday, as investors continued to hammer the Japanese commercial lender after it downgraded its annual outlook to a loss on bad U.S. commercial real estate loans. The commercial lender said Thursday it expects to post a net loss of 28 billion Japanese yen ($191 million) for the fiscal year ending March 31, compared with its previous outlook for a net profit of 24 billion yen. The bank forecast a net profit of 17 billion yen for the next fiscal year. "Aozora is a major mid-tier lender whose strength lies in its relationships with real estate/business revitalization financing companies and regional financial institutions," Goldman Sachs analysts wrote in a Friday note. They retained their sell rating on Aozora's shares with a price target of about 2,460 yen per share, mainly due to the short to medium outlook for the bank's profits. Aozora said Thursday it expects its Common Equity Tier 1 ratio, which compares a bank's capital against its assets, to fall to 6.6% by the end of the current fiscal year, temporarily dipping below its 7% target. "There have been some concerns in recent years over a decline in the CET1 ratio due to deterioration in U.S. commercial real estate credit costs and valuation losses on available-for-sale securities," Masahiko Sato, a senior analyst with SMBC Nikko Securities, wrote in a Thursday note to clients. "How this will impact other banks is another question," Sato added. "U.S. real estate lending for around 10% of (its) total lending with a CET1 ratio of below 7% due to unrealized losses on securities has no precedent." Aozora's update came shortly after U.S. regional bank New York Community Bancorp announced a surprise net loss of $252 million for the fourth quarter. NYCB also slashed its dividend and said it had "[built] reserves during the quarter to address weakness in the office sector" — renewing some fears over the strength of U.S. regional banks, which were embroiled in a liquidity crisis last year. The lender said this was in response to its purchase of the assets of Signature Bank, one of the regional banks that collapsed in last year's crisis. That purchase raised their total assets to $100 billion, placing them in a category that subjects the bank to more stringent liquidity standards. Bank of America analysts said in a Wednesday note that the sell-off in U.S. regional banking shares on contagion fears is "likely overdone given idiosyncratic factors tied to NYCB." "However, higher losses tied to commercial real estate office exposure, increase in criticized loans tied to multi-family CRE [commercial real estate] are a reminder of ongoing credit normalization that we are likely to witness across the industry," Bank of America U.S. banking analysts wrote. "It is worth pointing out that the credit/liquidity build at NYCB are mostly the bank playing catch-up to actions taken by larger regional peers over the last year," they added. — CNBC's Michael Bloom contributed to this story.

https://www.cnbc.com/2024/04/19/goldman-sachs-is-strong-netflix-raises-questions-what-we-learned-from-earnings-this-week.html

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Goldman Sachs is strong, Netflix raises questions: What we learned from earnings this week

Earnings season kicked off in earnest this week, with some notable results including those from some of the biggest U.S. banks and a major entertainment company. So far, more than 14% of S & P 500 companies have reported. Of those companies, 73.6% have beaten earnings expectations, FactSet data shows. Here's a look at some of the biggest reports of the week and what analysts think — along with a look at potential implications for the broader market. Investment banks doing well, BofA not so much The major banks that posted results this week — Goldman Sachs , Morgan Stanley and Bank of America — beat earnings expectations. Nonetheless, that didn't translate into a positive stock reaction for all three of them. Bank of America shares fell more than 3% despite the company beating on both top and bottom lines. Net interest income, a key metric of how much money a bank makes from loans, was $14.19 billion, above the $13.93 billion StreetAccount estimate. However, net interest income was lower on a yearly basis. Finance chief Alastair Borthwick also told analysts during a post-earnings conference call that net interest income will likely decline in the second quarter due to drops in wealth management, before potentially rebounding later in 2024. To be sure, Wells Fargo's Mike Mayo said Bank of America's first-quarter results were "not too surprising" and benefited from improved capital market conditions. He remains confident in the bank's reputation, deposits and credit quality in relation to its big bank peers. "Overall, BAC is a Goliath at a time when Goliath is winning," Mayo wrote in a Tuesday note. Mayo has an overweight rating on Bank of America. BAC 5D mountain BAC 5-day chart Meanwhile, Goldman Sachs and Morgan Stanley shares climbed around 3% and 2.5% each following their earnings announcements. For the week, they are up 3.7% and 6%, respectively. Analysts from JPMorgan, Bank of America and Wells Fargo all raised their price targets on Goldman following its positive results. Wells Fargo's Mayo said the firm is "likely best-of-breed" among its peers. The bank's pivot away from commercial banking into a renewed emphasis on its asset and wealth management segments is a positive for Goldman, per Bank of America analyst Ebrahim Poonawala. He named Goldman as one of the best names to own thanks to its exposure to a broader uptick in investment banking activity, as well as secular trends including more financing opportunities for artificial intelligence projects and a growth in private credit. Mayo prefers Goldman over Morgan Stanley, for which he holds an equal weight rating on shares. The company posted a growth in wealth inflows and revenue. However, Mayo remains concerned about the flat NII in the wealth segment, keeping him on the sidelines. UnitedHealth crushes estimates, but cyberattack still an overhang UnitedHealth's results easily exceeded analyst expectations, sending shares soaring more than 14%. That would be its biggest weekly gain since April 2020, when it rallied 15%. However, management noted the ongoing fallout of the cyberattack on its subsidiary Change Healthcare will result in an impact on full-year earnings of between $1.15 and $1.35 per share. "So while core MLR [medical loss ratio] in Q1 was slightly higher than expected, the outlook for the year seems largely inline with expectations, alleviating investor concerns around runaway medical cost trends and the risk from that to EPS," Deutsche analyst George Hill said in a Thursday note. He reiterated his buy rating on the stock, and slightly increased his price target to $562 from $545. UNH 5D mountain UNH 5-day chart Netflix concerns Netflix had a strong start to 2024 across the board, but its weaker-than-expected full-year revenue outlook weighed on sentiment. The streaming service also announced it would stop reporting quarterly subscriber numbers — a key metric watched by traders ahead of the report — and average revenue per membership starting next year. Shares fell on Friday more than 8% and were headed for their worst day since July 2023. "Overall, NFLX's 1Q was very clean, but we'd expect pushback from the 2024 revenue growth outlook, ongoing concerns about slowdown of Paid Sharing benefits & advertising monetization, & valuation," JPMorgan's Doug Anmuth wrote in a Friday note. He reiterated his overweight rating and $650 price target on shares. Bank of America also remains bullish on shares. Analyst Jessica Reif Ehrlich kept her buy rating and $700 price target, which she said is supported by its increased visibility in growth drivers and strength in innovation. Not all firms were as optimistic, however. Goldman Sachs retained its neutral rating on the stock, while Canaccord Genuity downgraded shares to hold from buy on slower forecasted growth. The reduced subscriber disclosures "add to uncertainty," the firm said. Mixed earnings picture Although nearly three-quarters of the reported earnings so far have topped expectations, the broader picture is more muddled. Profit growth is on track to disappoint, according to FactSet data. The blended earnings growth rate, which considers the reports already out and the estimates from those still pending, sits at just 0.16%. Analysts expected year-over-year profit expansion of more than 3% heading into the season, per FactSet. Revenue beats have also lagged earnings, with just 61% of companies exceeding top-line expectations. First-quarter results "have been a mostly negative catalyst for large caps, with below-typical sales beat rates. Demand has come in lighter than expected, though 'higher-end' consumers remain resilient with record household wealth and cash balances," wrote Wells Fargo strategist Chris Harvey. He forecasts more downward revisions to forward guidance, versus raises, from the companies scheduled to report going forward. Next week, about 150 S & P 500 names are slated to report, including Microsoft, Exxon Mobil, Alphabet and Tesla.

https://www.cnbc.com/2024/03/05/uk-neobank-monzo-hits-5-billion-valuation-after-430-million-raise.html

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British neobank Monzo raises $430 million in Alphabet-led round to relaunch in the U.S.

British digital bank Monzo on Tuesday raised $430 million in fresh capital from investors to help it relaunch its services in the U.S. Monzo raised the money in a new funding round led by CapitalG, the independent venture arm of Google parent company Alphabet . HongShan, the Chinese venture capital firm that split from Sequoia Capital last year, also backed the round, alongside existing backers Tencent and Passion Capital. Monzo, which is one of the U.K.'s most popular app-only banks, said the fresh cash would be used to accelerate its expansion plans. The bank's CEO, TS Anil, told the Financial Times the capital would allow Monzo to crack the U.S. market after its previous foray was curtailed by U.S. regulators. "With backing from global investors, we have the rocket fuel to go after our ambitions harder and faster, building Monzo into the one app that sits at the centre of our customers' financial lives," Monzo CEO TS Anil said in a statement. "Each milestone we've reached to this point has given us more strength and speed to make strides towards our mission — now we'll scale to even greater heights and seize the huge opportunity ahead."

https://www.cnbc.com/2024/04/06/indias-central-bank-holds-rate-looking-for-inflation-elephant-to-vanish.html

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India's central bank holds rate, looking for inflation 'elephant' to vanish

India's central bank held its key interest rate for a seventh straight policy meeting on Friday as growth in the economy is expected to remain robust while inflation stays above the 4% target. Bloomberg | Bloomberg | Getty Images The Indian central bank's key interest rate was kept unchanged for a seventh straight policy meeting on Friday as growth in the economy is expected to remain robust while inflation stays above the 4% target. The six-member monetary policy committee kept the main lending rate at 6.5%, in line with expectations. The repo rate was raised by a total of 250 basis points between May 2022 and February 2023. "Robust growth prospects provide the policy space to remain focused on inflation and ensure its descent to the target of 4%," RBI Governor Shaktikanta Das said in his prepared statement. Monetary policy must remain actively disinflationary at this stage, Das said. Inflation was the "elephant in the room" for the Indian economy two years ago, Das said. While low core inflation provides comfort, the uncertainty on food inflation remains a worry. Upasna Bhardwaj chief economist, Kotak Mahindra Bank "The elephant has now gone out for a walk and appears to be returning to the forest. We would like the elephant to return to the forest and remain there on a durable basis." But Das flagged that food price volatility remains a concern, although core inflation has fallen sharply in recent months to below 4%. "While low core inflation provides comfort, the uncertainty on food inflation remains a worry," said Upasna Bhardwaj, chief economist at Kotak Mahindra Bank. "We do not see much scope for any rate easing until the second quarter of 2024-25," she said, referring to the July-September quarter this year. Five out of six members of the rate setting committee voted in favor of the rate decision while the monetary policy stance of 'withdrawal of accommodation' was retained with a majority of five votes. The status quo policy left markets unmoved. watch now The Indian rupee INR=IN gained slightly against the U.S. dollar at 83.4050, just above a record low hit on Thursday, while bond yields were unchanged at 7.10%. The NSE Nifty 50 .NSEI index as well as the BSE Sensex .BSESN traded flat. The central bank said the Indian economy is expected to expand by 7% in the fiscal year 2025, which began on April 1, unchanged from its earlier forecast. Strengthening rural demand, improving employment conditions, moderating inflation pressures and a sustained pick up in the manufacturing and services sectors should boost consumer demand, Das said. India's GDP growth is seen at 7.6% in the year ended March 31, 2024, but consumption, which forms nearly 60% of the economy, is likely to grow at just 3% - the lowest in two decades barring the pandemic period. "We expect monetary easing either through a rate cut or change in stance to begin from October 2024," said Devendra Kumar Pant, chief economist at India Ratings & Research. But he added that the economy's strong growth momentum may limit rate cuts in this cycle to 50 to 75 basis points. Retail inflation for 2024-25 is seen at 4.5%, Das said. The committee believes that durable price stability would set strong foundations for a period of high growth, it said. However volatile food prices could change the outlook. "The increasing incidence of climate shocks remains a key upside risk to food prices," the rate setting panel said in its monetary policy statement. India is likely to experience more heat-wave days than normal between April and June, the country's weather office said earlier this week. Building strong buffers

https://www.cnbc.com/2024/04/19/wall-street-on-friday-says-buy-nvidia-netflix.html

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Here are Friday's biggest analyst calls: Nvidia, Netflix, Shopify, Dell, Microsoft, Meta, Coca-Cola, Amazon & more

Here are the biggest calls on Wall Street on Friday: Oppenheimer reiterates Nvidia as a top pick Oppenheimer says Nvidia remains a best-investment idea. "We continue to favor structural growth for long term outperformance, but believe investors are beginning to revisit diversified analog names that have lagged YTD. Our top picks are NVDA , MPWR, MRVL and AVGO." Morgan Stanley reiterates Ford and General Motors at overweight Morgan Stanley remains bullish on both automakers. "We are bullish on F and GM. In our opinion, the key to unlocking upside potential for both Ford's and GM's share prices is showing significant improvement in the return on incremental invested capital (ROIIC), where we see multiple paths of improvement as we pass through the EV recession." Mizuho reiterates Amazon as a top pick Mizuho is bullish heading into Amazon earnings on April 30. "Into the print, Amazon is our top pick due to the positive e-commerce checks and accelerating [Amazon Web Services] trends." Canaccord downgrades Netflix to hold from buy Canaccord downgraded Netflix following earnings on Thursday and said investors should look for better value elsewhere. "Despite these mostly solid results and outlook, we see limited growth catalysts for the next few quarters and with the stock up ~90% over the last 12 months and up ~25% YTD, we think investors may be well served to look elsewhere for upside and are downgrading the stock to HOLD." Loop initiates DoorDash as buy Loop said in its initiation of the stock that it has more earnings potential. "We are initiating coverage of DoorDash with a Buy rating and $170 price target. We think that years of debate over viability and earnings potential of on-demand gig platforms has been settled." Bank of America reiterates Netflix as buy Bank of America said it's sticking with its buy rating on Netflix following the streamer's earnings. "We reiterate Buy and raise our price objective to $700 (from $650)." Loop initiates Instacart at buy Loop said it sees share gains for the delivery company. "Instacart is the leader in grocery delivery in the U.S. by a wide margin and has been gaining share." Jefferies downgrades Ulta to hold from buy Jefferies downgraded the stock due to increasing competition. "The prestige makeup composition at ULTA is heavily weighted towards legacy brands (e.g Clinique, Estee, even MAC, etc), which, while they've been gradually losing share for years (ex. 3), diversification efforts have been unsuccessful." B. Riley upgrades Lam Research to buy from neutral B. Riley is more confident about the semi-equipment company's "revenue ramp potential." "In the past month, we've become much more confident on Memory's 2H24-through-2026 fundamentals, and with that, LRCX's revenue ramp potential." Wells Fargo upgrades First Solar to overweight from equal weight and downgrades Sunnova to equal weight from overweight Wells said it's "getting more defensive" in a "tough" solar market and that it's upgrading First Solar and downgrading Sunnova. "As the solar sector continues to struggle due to several headwinds, we're getting more defensive with our ratings. Upgrading FSLR to OW due to relative stability & several potential catalysts. Downgrading NOVA to EW as rates may stay higher for longer." Edward Jones downgrades Hershey to hold from buy Edward Jones sees too many cocoa headwinds. "Hershey is facing headwinds from record-high cocoa prices, which we expect to limit near-term earnings growth. Hershey has highly recognizable brands and a leading position in the attractive and fast-growing confectionery category." Bank of America reiterates Meta as buy Bank of America said it's bullish heading into earnings on April 24. "We remain positive on Meta and reiterate our thesis that Reels, Messaging, and AI-driven ad improvements are still early, and could lead to positive product surprises & revenue momentum in 2024." JPMorgan reiterates Coca-Cola as a top pick JPMorgan said it's bullish heading into Coca-Cola earnings on April 30. "Favorable Set Up for 2024, Although More Cautious on Volumes in 1Q vs. Street; Not Expecting Guidance Raise." Wolfe upgrades Bank of America to outperform from peer perform Wolfe said it sees a compelling entry point for the Charlotte, North Carolina-based national bank. "BAC : Upgrade to OP – Underearning Firms Shouldn't Trade at a Discount." Raymond James downgrades Pure Storage to outperform from strong buy Raymond James said in its downgrade of the data storage company that it's "less optimistic regarding Pure gaining material traction with cloud operators." " Pure generates nearly half its sales from subscriptions/recurring sources, which justifies a higher multiple." Morgan Stanley upgrades Shopify to overweight from equal weight Morgan Stanley said market share gains are increasing for Shopify. "Still Operating Leverage Left to Realize; Upgrading to Overweight." RBC initiates Inspire Medical Systems as outperform RBC said it's bullish on shares of the sleep solutions company. " INSP offers a novel solution to treat patients suffering from obstructive sleep apnea (OSA) in a $16B U.S. market." Morgan Stanley reiterates Microsoft as overweight Morgan Stanley said it's bullish heading into earnings on April 25. " Microsoft viewed as the clear beneficiary of incremental AI spend with a net 38% of CIOs expecting it to be the top AI budget share winner over the next 3 years." UBS reiterates Dell as a buy UBS raised its price target on the stock to $141 per share from $113. "While hyperscaler spend on Servers, the primary driver of the growth, is not a direct driver of Dell's Server business, a rising tide in our view should lift all boats as AI investments broaden." Needham upgrades Netflix to buy from hold Needham sees "revenue growth upside" following the company's earnings report on Thursday. "We raise our estimates and upgrade NFLX to Buy (from Hold) on rev growth upside as we believe: a) GenerativeAI will MOST benefit companies that are tech-first, and NFLX qualifies; b) NFLX has global scale, which maximizes the value of its data." Baird adds a bearish fresh pick on Columbia Sportswear Baird said it's negative heading into the clothing company's earnings report on April 25. "We expect COLM to reach low Q1 estimates (reporting April 25), but see risk of negative revisions to Q2."

https://www.cnbc.com/2024/04/20/these-5-stocks-will-power-the-ai-revolution-says-bank-of-america.html

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These 5 stocks will power the AI revolution as data centers spread and electricity demand doubles, says Bank of America

When it comes to investing in artificial intelligence, investors are beginning to turn to companies beyond tech — and instead to real estate, energy and utilities. The rise in power demand for data centers — which are booming from the need to support a new world of AI technologies — is also fueling demand for the providers of data center parts. According to the firm, that includes power producers, grid equipment makers, providers of grid technology, as well as commodity companies tied to uranium and copper, used for cabling and electricity network serving the data center. "Expected power usage for U.S. data centers under construction is equivalent to more than 50% of the power currently used by U.S. data centers. Several years out, even after these data centers are constructed, some expect data center power consumption to double again," analyst Thomas Thornton wrote in a Wednesday note. "Demand continues to remain robust for 'traditional' data center space, pricing power is real, and AI demand remains in its early innings," Thornton said, noting that AI workloads' power usage is expected to grow at a compound annual growth rate of between 25% and 33% between 2023 and 2028. He added that AI processing tends to happen on graphics processing units, or GPUs, which are more power intensive, and that the power consumption of GPUs themselves has been increasing — favoring newer data centers designed for AI. According to Bank of America analysts, several companies stand to benefit from the rapidly growing power needs of data centers, including Caterpillar and Equinix. Take a look at the buy-rated names below: Caterpillar is an "underrated" play in this theme, as it has a deep legacy of providing engines for back-up power generation, according to the firm. Analysts pointed out that data centers continue to be a bright spot in Caterpillar's earnings even as other end markets slow down, as its power generation unit has outpaced the company's overall growth in the past four quarters. The company is a leading manufacturer of diesel generator sets with more than 450,000 kilowatts installed in data centers and hospitals in a single year, the firm said. Management is raising its own capital expenditures for the first time in a decade to meet the power demand for data centers, BofA added. Caterpillar stock has 7.6% potential upside, according to BofA's price target of $385. Shares have added nearly 20% this year, but are down 3% over the past week. Buy-rated REITs Digital Realty Trust and Equinix are "starting to capture the very early beginnings of AI demand, but ... the vast majority of the total opportunity is yet to come," according to analyst David Barden. Both companies are anticipating strong top-line revenue growth this year, but the companies diverge when it comes to their bottom line, or net income. "Strong bottom-line growth at EQIX underpins our Top Pick thesis, while DLR is more of a 'show me story' in this respect. DLR has long been a slower growth story than EQIX due to dilutive M & A, equity issuance, etc," Barden said in the note. "This said, investors have shown they are able to look past this in anticipation of better growth in the future given top-line trends." BofA anticipates shares of Digital Realty and Equinix to jump roughly 24% and 33%, respectively. Digital Realty shares are up 1.7% this year, while Equinix has slumped 7.1%. Software company Aspen Tech and electrical components maker Eaton are a couple other companies BofA is bullish on when it comes to data center infrastructure and power suppliers. The firm thinks Eaton shares could climb another 12.2% after gaining more than 25% this year, saying "we argue a premium valuation is warranted due to expected upside from cyclical operating leverage, strong margin performance, and Eaton's less cyclical portfolio mix." Other beneficiaries, from both the growth of data centers and associated power needs, that were mentioned by BofA analysts include energy companies such as Constellation Energy and Dominion Energy . To be sure, analysts mentioned that data center demand will likely exceed supply. As the demand for generative AI piles onto otherwise traditional data center demand, AI-related demand will emerge in two phases — training and inference — where training new AI models will require power and cooling while new data centers will need to be built to accommodate those needs, they said.

https://www.cnbc.com/2024/04/01/gold-prices-hit-new-record-high-on-fed-cut-expectations.html

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Gold prices hit another record high after fresh U.S. data spurs Fed cut expectations

Gold prices scaled to another record high Monday, propelled by U.S. interest rate cut expectations and the metal's appeal as a safe haven asset. Spot gold added 0.3% to trade at $2,240.04 per ounce. U.S. gold futures rose 0.8% to settle at $2,257.10 per ounce. The metal hit a high of $2,286.4. "I think it's a really exciting moment in gold," said Joseph Cavatoni, market strategist at the World Gold Council, told CNBC on Monday. "What's really driving it is, I think, many market speculators really getting that confidence and comfort [in] the Fed cuts," he said. Market watchers are expecting the U.S. Federal Reserve to cut interest rates in June. The key Fed inflation gauge for February climbed 2.8% year on year, according to data released Friday — likely to keep the U.S. central bank on hold before it can start considering rate cuts. The Fed stood pat on interest rates at the conclusion of its recent March meeting, but stuck with its forecast for three rate reductions this year.

https://www.cnbc.com/2024/04/18/dollar-takes-a-breather-as-investors-ponder-us-rates-outlook.html

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U.S. dollar modestly firmer after strong data, Fed comments

The dollar was soft on Thursday as traders assessed the U.S. interest rates outlook in the wake of comments from Federal Reserve officials that cemented expectation of monetary settings remaining restrictive for a while longer. The dollar drifted higher on Thursday as a mixed batch of U.S. data did little to shake views that the economy is still on solid ground, suggesting the Federal Reserve will likely delay the timing of its first rate cut since 2020 to later this year. Comments from New York Fed President John Williams saying he does not "feel the urgency to cut interest rates," given the strength of the economy also helped lift the dollar. The New York Fed president is always a voter on the central bank's policy-setting committee. A warning by the finance chiefs of the United States, Japan and Korea over the sharp decline in other currencies weighed on the dollar overnight and offered the yen some rare respite. But the impact has since dissipated. The yen had risen modestly on Wednesday after Japan's top currency diplomat Masato Kanda said finance leaders of the G7 reaffirmed their stance that excessive currency volatility was undesirable. But strong U.S. economic data and persistent inflation have prompted investors to drastically rethink the chances of the Federal Reserve cutting rates any time soon. On Thursday, that strength was on display once again. Manufacturing activity in the U.S. Mid-Atlantic region expanded by the most in two years in April on the strength of new orders and shipments of finished goods, although factory employment continued to fall. The Philadelphia Fed's monthly business conditions index rose to 15.5 from 3.2 in March, exceeding the median estimate among economists in a Reuters poll for a reading of 2.3 and overshooting even the most optimistic forecast among 34 economists surveyed. "You saw the pullback yesterday and now the dollar is firmer. This goes to show that people are buying on dips and so sentiment has not changed," said Marc Chandler, chief market strategist, at Bannockburn Forex in New York. "We saw the Philadelphia Fed survey, which came out stronger than expected. So the market is still making an adjustment toward what looks like an re-acceleration of the economy," he added. Other economic reports were neutral to weak. U.S. initial jobless claims were unchanged at a seasonally adjusted 212,000 for the week ended April 13, data showed, still higher than the forecast of 215,000. Claims have been bouncing around in a 194,000-225,000 range this year. In the housing sector, U.S. existing home sales fell in March as higher interest rates and house prices sidelined buyers. Home sales dropped 4.3% last month to a seasonally-adjusted annual rate of 4.19 million units. The dollar index, which measures the U.S. currency against six others, was up 0.2% at 106.16, still within reach of this week's 5-1/2-month high of 106.51 hit on Tuesday. The index was so far up 4.5% this year. The Japanese currency slipped against the dollar, pushing the greenback up 0.1% at 154.64 yen, within sight of Tuesday's 34-year low of 154.79. Market participants have raised the bar on possible intervention by Japanese authorities to prop up the yen, now pinpointing the 155 level even though they believe Japan could step in at any time. Still, given the dollar's broad strength, Wei Liang Chang, a currency and credit strategist at DBS, said their models suggest the risk of intervention may even have shifted to the 156 range, as Japanese authorities consider the yen's performance against a handful of other currencies that have depreciated. In other currencies, the euro dipped 0.1% against the dollar to $1.0661 after Wednesday's gain, pulling away from a five-month low touched on Tuesday. Sterling was last flat at $1.2452. Markets are pricing about 39 basis of Fed cuts for 2024, compared with an expectation of around six quarter-point easing at the start of the year. Traders see September as the most likely starting point, versus June just a couple of weeks ago, based on the CME FedWatch Tool. "In our view, it will take a run of lower CPI readings for the FOMC to cut interest rates in September," said Kristina Clifton, senior economist at Commonwealth Bank of Australia. In cryptocurrencies, bitcoin rose 4.4% to $63,508 ahead of the widely anticipated halving event in the next few days.

https://www.cnbc.com/2024/04/04/oil-prices-rise-on-concerns-of-lower-supply-signs-of-us-economic-growth.html

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Oil prices rise on concerns of lower supply, signs of U.S. economic growth

An oil pumpjack operating as another stands idle in Los Angeles, California. Oil prices rose in early Asian trade on Thursday on concerns of lower supply as major producers are keeping output cuts in place and on signs of stronger economic growth in the U.S., the world's biggest oil consumer. Brent futures for June rose 15 cents, or 0.2%, to settle at $89.51 a barrel at 0037 GMT. U.S. West Texas Intermediate (WTI) futures for May rose 15 cents, or 0.2%, to $85.59 a barrel. Both the June Brent contract and the May WTI contract have risen for the past four days and closed on Wednesday at the highest since the end of October. Oil has gained as Ukraine's attacks on Russian refineries have cut fuel supply and amid concerns that the Israel-Hamas war in Gaza may spread to include Iran, possibly disrupting supplies in the key Middle East region. A meeting of top ministers from the Organization of Petroleum Exporting Countries, or OPEC, and its allies including Russia, kept oil supply policy unchanged on Wednesday and pressed some countries to boost compliance with output cuts. The group said some members would compensate for oversupply in the first quarter. It also said Russia would switch to output rather than export curbs. Also on Wednesday, Federal Reserve Chair Jerome Powell was cautious about future interest rate cuts because of recent data showing higher-than-expected job growth and inflation. The comments were positive for oil because they indicated solid U.S. economic growth, said Rob Haworth, senior investment strategist for U.S. Bank's asset management group. In the Middle East, Iran has vowed revenge against Israel for an attack on Monday that killed high-ranking Iranian military personnel. Iran is the third-largest producer in OPEC.

https://www.cnbc.com/select/best-big-bank-savings-accounts-2024/

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CNBC's best big bank savings accounts of 2024

Best at Bank of America Bank of America Advantage Savings Learn More Annual Percentage Yield (APY) 0.01%, with option to increase if a Preferred Rewards member Minimum balance $100 to open Monthly fee $8 per month, with options to waive. New account holders get the first six months with no monthly fees Maximum transactions Up to 6 free withdrawals or transfers per statement cycle Excessive transactions fee $10 when you make over 6 withdrawals in a month Overdraft fees Overdraft protection when you link your savings account to your checking account Offer checking account? Yes Offer ATM card? Yes, if have a Bank of America checking account Terms apply. Pros Earn cash back on select deals at stores, restaurants and more through BankAmeriDeals® Save money from everyday purchases through Bank of America's Keep the Change® program Get rewarded for having big balances through Bank of America's Preferred Rewards program Access Erica® for customized and real-time virtual financial assistance Bank of America has a vast network of ATMs No monthly maintenance fee for first six months on new accounts Up to 6 free withdrawals or transfers per statement cycle Cons Has monthly maintenance fees Higher-than-average minimum deposit to open an account Low APY (and option to earn higher is high threshold) Learn More View More Who's this for? The Bank of America Advantage Savings account stands out because of the special rewards programs you can access if you use a Bank of America credit card or open a Bank of America checking account in tandem with your savings account. Account holders can earn up to 15% cash back on select eligible purchases at stores, restaurants and more with BankAmeriDeals® when using a Bank of America debit or credit card. The Bank of America Advantage Savings account requires a $100 opening deposit. There's an $8-per-month maintenance fee that is waived for the first 6 months for new account holders. Customers can avoid paying the monthly fee after the intro period by maintaining a minimum daily balance of at least $500, linking their savings account to their Bank of America Advantage Relationship Banking® checking account or becoming a Bank of America Preferred Rewards member. Students under 24 who are enrolled in school may also qualify for a waiver. There are three tiers to the Bank of America's Preferred Rewards program, and your 3-month average daily balance across your Bank of America deposit and Merrill Lynch/Merrill Edge investment accounts determines which tier you qualify for. You must also have an eligible Bank of America personal checking account to qualify. The tiers include Gold, Platinum and Platinum Honors, and there's a $20,000 minimum balance required. If you qualify and enroll in the Preferred Rewards program, you're also eligible for an elevated APY, ranging from 0.02% to 0.04% depending on which tier. Otherwise, the standard APY is 0.01%. To improve your savings habits, consider enrolling in Bank of America's Keep the Change® program, which allows account holders to round up their debit card purchases and deposit the difference into their savings account each day. Through the Bank of America mobile app, customers can access Erica® for customized and real-time virtual financial assistance. The bank has over 4,000 branches and 16,000-plus ATMs throughout the country. A withdrawal limit fee of $10 is applied for each withdrawal over 6 per month, and there is overdraft protection when you link your savings account to your checking account. Best at Wells Fargo Way2Save® Savings Learn More Annual Percentage Yield (APY) 0.15% Minimum balance $25 to open Monthly fee $5 per month, with options to waive Maximum transactions Up to 6 free withdrawals or transfers per statement cycle Excessive transactions fee Each withdrawal over the 6 per month limit will be assessed Overdraft fees Overdraft protection when you link your savings account to your checking account Offer checking account? Yes Offer ATM card? Yes, if have a Wells Fargo checking account Terms apply. Pros Wells Fargo is the largest brick-and-mortar bank in the nation, by number of branches Encourages automatic saving through Save As You Go® Monthly maintenance fee can be waived with automatic transfers into your savings Low minimum deposit to open an account Up to 6 free withdrawals or transfers per statement cycle Cons Has monthly maintenance fees Low APY Learn More View More Who's this for? With about 5,400 physical locations and over 13,000 ATMs, Wells Fargo Bank is the largest brick-and-mortar bank in the nation by the number of branches. For those looking to open an account at a bank with the most opportunity for in-person access, Wells Fargo is your best choice. Wells Fargo offers two different savings accounts: the basic Way2Save® Savings and the elevated Platinum Savings. CNBC Select chose Way2Save as the better savings account option because it has a lower minimum daily balance requirement to avoid the monthly service fee ($5 per month for Way2Save and $12 per month for Platinum). To avoid these fees, account holders must either maintain a $300 minimum daily balance or set up their choice of automatic transfers from their checking to their savings: $25 in total, $1 each business day per month or at least one Save As You Go® transfer. With Save As You Go, it's easy to set aside cash. Wells Fargo automatically transfers $1 of a customer's funds from their linked Wells Fargo checking account to their Way2Save account for each qualifying transaction that is a non-recurring debit card purchase or online bill payment using Wells Fargo Online® Bill Pay. To accelerate completing your savings goals, you can set up additional automatic transfers from your checking account each month. There is a $25 minimum opening deposit for this savings account, and those who link a Wells Fargo checking account can opt for overdraft protection. The APY on this account is currently 0.15%. Best at Chase Bank Chase Premier Savings℠ Annual Percentage Yield (APY) 0.01%, with option to increase up to 0.05% Minimum balance $0 Monthly fee $25 per month, with options to waive Maximum transactions Up to 6 free withdrawals or transfers per statement cycle Excessive transactions fee $5 when you make over 6 withdrawals in a month Overdraft fees N/A Offer checking account? Yes Offer ATM card? Yes, if have a Chase checking account Terms apply. Pros Chase Bank has a vast network of ATMs Users have the option to earn a higher APY Monthly maintenance fee can be waived by linking to a checking account No minimum deposit to open an account Up to 6 free withdrawals or transfers per statement cycle Cons Has monthly maintenance fees Low APY (although option to earn higher) View More Who's this for? If you are looking for a broad network of ATMs to avoid any out-of-network fees and want a chance to earn a slightly higher APY, consider the savings accounts offered by Chase. Chase Bank has nearly 4,900 branches and 16,000 ATMs. Like Wells Fargo, Chase offers two brick-and-mortar savings accounts: the standard Chase Savings℠ and the Chase Premier Savings℠. CNBC Select ranked the latter as one of the best because you can earn better interest rates (what Chase calls "relationship rates") on higher balances by linking your savings to a Chase Premier Plus Checking℠ or Chase Sapphire℠ Checking and making at least five transactions in a month using your linked checking account. If you don't link your Chase Premier Savings account to a Chase checking account, the APY is 0.01%. But the APY creeps up slightly if you do have a linked account. For example, you can earn 0.02% APY if you also have a Premier Plus Checking or Chase Sapphire Checking account. By linking to a checking account, you also avoid the monthly $25 service fee that comes with the Chase Premier Savings. Otherwise, there's a daily minimum balance of $15,000 required. There is no minimum deposit required to open an account. If you choose to link a Chase Sapphire Checking account, you can take advantage of Sapphire℠ Banking perks, which include special access to sports and entertainment events and early ticket sales. Chase also has an automatic savings program where customers can get help reaching their set savings goals in the bank's mobile app. There is a $5 savings withdrawal limit fee when you make over six withdrawals in a month, including those made at a branch or at an ATM. This fee is waived with a balance of $15,000 or more in the account at the time of withdrawal. Best at U.S. Bank U.S. Bank Standard Savings Account Learn More Annual Percentage Yield (APY) 0.01% Minimum balance $25 to open Monthly fee $4 per month, with options to waive Maximum transactions Up to 6 free withdrawals or transfers per statement cycle Excessive transactions fee N/A Overdraft fees Overdraft protection when you link your savings account to your checking account Offer checking account? Yes Offer ATM card? Yes, if have a U.S. Bank checking account Terms apply. Pros Lower-than-average fees for a brick-and-mortar savings account Low monthly maintenance fee, plus option to waive with $300 minimum daily balance Low minimum deposit to open an account Up to 6 free withdrawals or transfers per statement cycle Cons Has monthly maintenance fees (although lower than others) Low APY Learn More View More Who's this for? If you want a simple, no-frills and low cost savings account at a big bank, U.S. Bank's Standard Savings Account is for you. With about 2,700 branches and 4,500 ATMs, U.S. Bank has a smaller physical presence than the other national banks on this list, mostly across the Midwest and Western parts of the U.S. However, as its name suggests, the Standard Savings Account is a straightforward option if you live near a U.S. Bank location. Potential savers can open an account with a $25 minimum deposit. The monthly maintenance fee is $4 a month. The fee is waived for account holders who have a $300 minimum daily balance, a $1,000 average monthly collected balance or are under 18. The APY offered is 0.01% on all balances, and you can take advantage of overdraft protection when linking your savings account to your U.S. Bank checking account. Best at Citibank Citi® Savings Account Learn More Annual Percentage Yield (APY) 3.85% Minimum balance None Monthly fee $4.50 per month, with options to waive. Maximum transactions Up to 6 free withdrawals or transfers per statement cycle Excessive transactions fee N/A Overdraft fees Overdraft protection when you link your savings account to your checking account Offer checking account? Yes Offer ATM card? Yes Terms apply. Pros Low monthly maintenance fee, plus option to waive with $4500 minimum daily balance No minimum deposit to open an account Up to 6 free withdrawals or transfers per statement cycle Higher APY relationship rates are available Cons Low APY Has monthly maintenance fees (although lower than others) Learn More View More Who's this for? The Citi® Savings Account is ideal for those who appreciate robust digital banking features but still want access to physical branches. Citibank is the nation's third-largest bank but has far fewer branches than some competitors, with only about 700 branches in the U.S. Customers have access to over 65,000 surcharge-free ATMs in the U.S. and can take advantage of a range of online banking features, including mobile check deposit, hassle-free transfers and easy online bill payments. Citi stands out for offering a higher APY than its brick-and-mortar competitors, with a 0.05% APY for basic customers and the potential to earn up to 1.01% APY depending on your Citi account tier. There is no minimum deposit required to open an account. Customers can avoid paying the low monthly fee by maintaining a minimum daily balance of at least $500 or linking their savings account to their checking account and either making one enhanced direct deposit and one qualifying bill payment per statement period or maintaining a $1,500 average monthly collected balance. Best at PNC Bank Virtual Wallet® Learn More Annual Percentage Yield (APY) 3.50% APY on select Virtual Wallet Growth accounts with relationship rates. Minimum balance Varies depending on Virtual Wallet account Monthly fee Ranges from $7 to $25 depending on Virtual Wallet account, with options to waive Maximum transactions Up to 6 free withdrawals or transfers per statement cycle Excessive transactions fee N/A Overdraft fees Overdraft protection offered by your Reserve and Growth accounts Offer checking account? Yes Offer ATM card? Yes, if have a PNC Bank checking account Terms apply. Pros New account holders can earn a welcome bonus of up to $200 Virtual Wallet includes individual checking and savings accounts that work together Earn cash or points through PNC Purchase Payback® program Reimbursable non-network ATM fees Account holders can choose the Virtual Wallet best for them Options to waive monthly maintenance fee Higher APY relationship rates are available Up to 6 free withdrawals or transfers per statement cycle Cons Has monthly maintenance fees Have to call PNC Bank to find out APY offered in your area Learn More View More Who's this for? PNC Bank is a large brick-and-mortar bank with approximately 2,300 branch locations and nearly 18,000 PNC and PNC Partner ATMs. It stands out on our list for its savings account option called Virtual Wallet®, which uses innovative online tools to make it easy to see how you're managing your money day to day. The account is best for those who want to do all their banking in one place as it rewards you for combining your savings and checking into one. New account holders can earn a welcome bonus of up to $400 depending on what type of Virtual Wallet they open. The three choices include Virtual Wallet, Virtual Wallet with Performance Spend and Virtual Wallet with Performance Select. The simple Virtual Wallet has basic account features while the two other options offer more premium rewards. For those enrolled in school, there is also a Virtual Wallet Student option. All of the above Virtual Wallet options include individual accounts that work together: Spend, Reserve and Growth. Spend is your everyday checking account, Reserve your interest-bearing checking account / primary overdraft protection account and Growth is your long-term savings account / secondary overdraft protection account. Higher "relationship" interest rates are available on your Growth savings account. The monthly service charges range from $7 to $25, depending on the type of Virtual Wallet you have and can be waived depending on minimum balances in your Spend + Reserve checking accounts (required balances and minimum deposits vary according to the type of Virtual Wallet you have). Virtual Wallet account holders can make free transactions at approximately 9,000 PNC-owned ATMs, and if you end up using a non-PNC ATM, some fees are reimbursed. Through the PNC Purchase Payback® program, customers can also earn cash back or points on purchases made using their PNC Bank Visa® Debit Card which is automatically issued when they sign up for Virtual Wallet. The customized rewards program has offers available from participating merchants depending on your shopping habits. Though you can open a Virtual Wallet account online, being a brick-and-mortar bank, PNC also welcomes customers to visit their local branch to open an account and offers a coupon printout of the welcome bonus that savers can bring with them to redeem. For current APY information, call 1-888-PNC-BANK (1-888-762-2265). If you're looking for a more straightforward account, PNC Bank also offers a Standard Savings Account. Common savings account terms you should know Annual Percentage Yield (APY): The amount of interest an account earns in a year. The amount of interest an account earns in a year. ATM networks: ATMs can either be in-service or out-of-network, depending on which bank you have. When you make a transaction at an ATM that is outside your bank's network, then a fee will most likely be applied by both the ATM operator and your bank. ATMs can either be in-service or out-of-network, depending on which bank you have. When you make a transaction at an ATM that is outside your bank's network, then a fee will most likely be applied by both the ATM operator and your bank. Overdraft protection: Any negative checking account balances are automatically covered when linked to a savings account. 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 brick-and-mortar savings account review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of banking 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 big bank savings accounts. Our methodology To determine which big bank savings accounts are best, CNBC Select analyzed dozens of U.S. savings accounts offered by the largest national banks and credit unions. We narrowed down our ranking by only considering those savings accounts that come from big banks with broad availability, offering access to at least 700 physical branches and over 4,000 non-fee ATMs in the U.S. While the accounts we chose in this article are from the largest banks, we compared each savings account on a range of features, including its fees, opportunities to earn higher interest rates, customer service and any other special offerings or programs. We also considered factors such as insurance policies, users' deposit options, other savings accounts being offered by the same bank and customer reviews when available. All of the accounts included on this list are FDIC-insured up to $250,000. Note that the interest rates and fee structures for brick-and-mortar savings accounts are subject to change without notice. Product and feature availability vary by market so they may not be offered depending on where you live. Most brick-and-mortar banks require you to enter your zip code online for the correct account offerings. Any return on your savings depends on the associated fees and the balance you have in your brick-and-mortar savings account. To open a savings account, most banks and institutions require a deposit of new money, meaning you can't transfer money you already had in an account at that bank. 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/2023/11/02/uber-lyft-pay-328-million-to-settle-new-york-wage-theft-allegations.html

UBER

Uber

Uber, Lyft to pay $328 million to settle wage-theft allegations in New York state

Uber CEO Dara Khosrowshahi is interviewed on the trading floor at the New York Stock Exchange (NYSE) in New York, August 2, 2022. Uber and Lyft agreed to pay a combined $328 million to settle allegations the ride-hailing companies unlawfully withheld wages from drivers and failed to provide mandatory paid sick leave in New York state, Attorney General Letitia James' office said Thursday. Uber will pay $290 million and Lyft will pay $38 million. The state AG's office said it's the largest wage-theft settlement it's won. The money will go to drivers affected by the companies' alleged practices. More than 100,000 drivers in New York could be eligible to receive the funds and benefits secured under the agreements, James' office said. Drivers will be notified by mail, email or text about how to file a claim. "For years, Uber and Lyft systemically cheated their drivers out of hundreds of millions of dollars in pay and benefits while they worked long hours in challenging conditions," James said in a statement. "This settlement will ensure they finally get what they have rightfully earned and are owed under the law. My office will continue to make sure that companies operating in the so-called 'gig economy' do not deprive workers of their rights or undermine the laws meant to protect them." The settlements, which resolve multiyear investigations, reflect the companies' latest concessions in a standoff with regulators across the country about the level of oversight they should receive and what they owe their drivers. Uber and Lyft have previously fought efforts to reclassify their workers from contractors to employees, for example, a change they said most of their workers opposed. Uber's settlement represents more than 3% of the $9.23 billion in revenue it generated last quarter. And Lyft's settlement comes to nearly 4% of the $1.02 billion in revenue it reported. The companies also agreed to ongoing changes in how they pay drivers and offer benefits in the Empire State. The AG's office alleged the companies incorrectly deducted charges from drivers' wages that should have instead been charged to passengers. For example, the office said that from 2014 to 2017 Uber deducted sales taxes and Black Car Fund fees from drivers' paychecks and misrepresented that it would do so in its terms of service. And Lyft, the AG alleged, deducted an 11.4% administrative charge that equaled the amount of the sales tax and Black Car Fund fees between 2015 and 2017. Both companies also failed to provide paid sick leave as required under state and New York City law, James alleged. Under the agreements, Uber and Lyft will be required to give drivers outside of New York City a guaranteed earning minimum of $26 per hour, which will be adjusted each year for inflation. The minimum rate would apply from "dispatch to completion of the ride," according to a press release from the AG's office. Drivers in New York City already receive guaranteed minimum earnings under local regulations. Drivers also will get guaranteed paid sick leave in New York state. For every 30 hours worked, they'll be able to earn one hour of sick pay up to 56 hours per year, the AG's office said. Both companies will make updates so drivers can request sick leave through the apps, according to the press release. Uber and Lyft also agreed to give drivers compensation breakdowns, the AG's office said. The companies will have to notify drivers how much a rider paid for each ride and give drivers an in-app chat tool to discuss earnings and work conditions. Uber and Lyft also must allow drivers to appeal deactivation from their platforms. Uber and Lyft both called the agreements with the AG a "win" in statements following the announcement, and both denied wrongdoing. "This is a win for drivers, and one we are proud to have achieved with the New York Attorney General's Office," Jeremy Bird, Lyft's chief policy officer, said in a statement. "New York has long been a leader in providing drivers portable benefits through flexible earning opportunities with its Black Car Fund, and this agreement expands upon that foundation. We look forward to continuing this work in order to provide New York drivers the independence and full range of benefits available to those in other states, like California and Washington." "The agreement is a win for drivers across New York State who can now enjoy both the flexibility that is so important to them, while also having new benefits and protections like a minimum earnings standard and paid sick leave," Uber wrote in a blog post. Lyft also wrote in a blog post that it doesn't expect a material impact on its profit and loss statement from the event and that it accrued for the agreement in Q2 of 2023. Lyft said it expects to pay about $20 million of the settlement in the fourth quarter, with the rest in 23 monthly payments. WATCH: New York City taxis battle Uber and Lyft for riders

https://www.cnbc.com/2023/11/02/freight-recession-is-at-a-new-tipping-point-says-ubers-shipping-ceo.html

UBER

Uber

Uber Freight CEO says the shipping recession is at a new tipping point

The freight transport sector has faced a volatile year, with a series of bankruptcies as a result of diminished freight rates and a lack of cargo as demand waned, but Lior Ron, CEO of Uber 's logistics subsidiary Uber Freight, says the freight recession may be at a new "tipping point." The reason is fuel prices. Ron said Uber Freight is witnessing more carriers giving back lanes after bids, which could be an indicator of carriers unable to afford to run certain shipping routes. "Low fuel prices earlier this year likely helped many carriers manage through low rates, but increasing fuel costs may be a tipping point for carriers operating with little to no margin," Ron said. Shipper volumes are still down, and carrier rates are still depressed. And so far in Q4, he said Uber's team has observed carriers being more selective on the volume that they take in bids to remain profitable. Shippers, meanwhile, are being more selective on their carrier mix and have been leaning toward selecting carriers they think are stable and provide good service, Ron said. Oil prices have come down from their recent peak, and global economic growth is projected to slow next year, but geopolitical risks remain high, from the Russia-Ukraine war to the emerging Israel-Hamas war in the Middle East. The World Bank warned in a report on Tuesday that record high oil prices could be reached if the conflict spreads beyond the Gaza Strip, and the price of crude able to rise as high as $157. Bank of America recently released a similar worst-case scenario forecast. "Fraught with uncertainty" is how the International Energy Agency recent described the conditions in the oil market. The World Bank's baseline case assuming there is no oil shock would result in an average price of $90 a barrel in the current quarter before crude heads lower in 2024 to an $81 average amid slower global growth.

https://www.cnbc.com/select/best-rideshare-insurance-companies/

UBER

Uber

The best rideshare insurance companies for Uber and Lyft drivers

Personal car insurance policies generally won't cover you while driving for a rideshare service or transportation network company (TNC). And while companies like Uber and Lyft often provide some level of insurance coverage at certain stages of a trip, having your own auto insurance policy with ridesharing coverage can protect you in more situations. While some drivers may opt for a commercial auto insurance policy, it's not the right move for everyone as these policies are generally more expensive. Luckily, many auto insurance companies offer coverage to rideshare drivers through an endorsement (or an addition to an insurance policy adding coverage for specific situations) to personal auto insurance policies. For rideshare drivers searching for coverage, CNBC Select rounded up the top insurance companies offering coverage tailored to their specific needs through a rideshare endorsement. (See our methodology for more information about how we chose the best rideshare insurance companies.) Best rideshare insurance companies Best overall Progressive Auto Insurance Learn More Cost The best way to estimate your costs is to request a quote App available Yes Policy highlights Progressive offers a number of lines of insurance to allow for bundling, and convenient tools to help you keep your coverage in your budget. Terms apply. Read our Progressive Auto Insurance review. Pros Quotes available online Available in all 50 states Cons Above average NAIC complaint index score Learn More View More Who's this for? Progressive offers a rideshare endorsement for auto insurance policies to cover rideshare drivers along with competitive rates according to the sample data we analyzed. For those interested in commercial coverage, Progressive also offers this product and was one of our top picks for commercial auto insurance in CNBC Select's roundup of the best small business insurance policies. Standout benefits: Progressive is rated highly for financial strength by A.M. Best with an A+ rating and is relatively well-rated for customer satisfaction according to J.D. Power's Auto Insurance Customer Satisfaction Survey. [ Jump to more details ] Allstate Auto Insurance Learn More Cost The best way to estimate your costs is to request a quote App available Yes Policy highlights Allstate offers auto insurance customers a total of 14 discounts in addition to a pay-per-mile car insurance program. It offers quotes by phone, through an agent, or online. The company also offers a number of other insurance products to bundle your coverage and save. Pros Quotes available online Cons Slightly above average NAIC complaint index Learn More View More Who's this for? Allstate's "Ride For Hire" is an add-on to personal auto insurance policies that can help rideshare drivers get coverage with a highly-rated company. Standout benefits: Allstate's auto insurance offers more than a dozen discounts to drivers to lower their auto insurance costs. [ Jump to more details ] Best for customer satisfaction State Farm Auto Insurance Learn More Cost The best way to estimate your costs is to request a quote App available Yes Policy highlights State farm is one of the largest auto insurers based on market share and has an excellent reputation for customer satisfaction. It offers 13 discounts, including ones for safe driving and young drivers. Terms apply. Read our State Farm Auto Insurance review. Pros High customer satisfaction Largest car insurance company in the U.S. Accident forgiveness for good drivers Cons High NAIC complaint index score Doesn’t offer gap insurance Learn More View More Who's this for? State Farm stands out as a top choice for those wanting a policy with an affordable average rate and a strong customer service track record. Standout benefits: State Farm is highly rated for customer satisfaction, second to USAA overall in the companies we reviewed based on J.D. Power surveys. [ Jump to more details ] Best for military members and veterans USAA Auto Insurance Learn More Cost The best way to estimate your costs is to request a quote App available Yes Policy highlights USAA's auto insurance is available in all 50 states, Washington D.C. and some international locations. In addition to low rates and coverage options for unique circumstances, such as for active-duty members, customers have access to an intuitive mobile app. Terms apply. Pros Lowest average premium for minimum coverage Highest customer satisfaction ranking Superior discounts for military members Cons Only available to military members, veterans and their immediate family members Learn More View More Who's this for? Those who qualify for USAA (generally including those who have served in the military and their families) can find car insurance that's highly rated for customer satisfaction. Standout benefits: USAA consistently offers competitive rates for auto insurance and receives top marks for customer service from J.D. Power. [ Jump to more details ] More on our top rideshare insurance companies Progressive Progressive's rideshare coverage is available as an endorsement to a personal auto insurance policy and is a strong option for those wanting to strike a balance between price and customer service. The company specifically requires this endorsement for all customers who drive for a rideshare company. Nationwide customer satisfaction rating (from J.D. Power's Auto Insurance Customer Satisfaction Survey) 811 out of 1,000 A.M. Best Financial Strength Rating A+ [ Return to summary ] Allstate Allstate offers rideshare coverage through its Ride for Hire rider on a personal auto insurance policy. Benefits of the rider include deductible gap coverage, helping you minimize out-of-pocket expenses if you need to file a claim. Nationwide customer satisfaction rating (from J.D. Power's Auto Insurance Customer Satisfaction Survey) 813 out of 1,000 A.M. Best Financial Strength Rating A+ [ Return to summary ] State Farm State Farm's rideshare driver coverage can help rideshare drivers get coverage for their vehicles beyond what's offered by their rideshare companies. Additionally, the company offers a number of other insurance products to bundle and save. Nationwide customer satisfaction rating (from J.D. Power's Auto Insurance Customer Satisfaction Survey) 834 out of 1,000 A.M. Best Financial Strength Rating A++ [ Return to summary ] USAA USAA consistently stands out for its competitive auto insurance pricing and customer satisfaction. While it's only available to military members, veterans and their families, those with a military affiliation can get coverage that would extend to their ridesharing gigs through USAA. Nationwide customer satisfaction rating (from J.D. Power's Auto Insurance Customer Satisfaction Survey) 877 out of 1,000 A.M. Best Financial Strength Rating A++ [ Return to summary ] What does rideshare insurance cover? Rideshare insurance essentially fills coverage gaps between your personal auto insurance policy and any coverage offered by the rideshare company. For example, a rideshare company's coverage won't apply while using your car for personal reasons — that's when your personal auto insurance coverage is important. When you have the app open and are waiting for work, the company's insurance only offers liability coverage. While liability auto insurance can help if you're sued because of an accident, it won't repair or replace your car. This is one situation where a rideshare endorsement on your personal policy can step in. Rideshare coverage can help extend the limits and deductibles of your personal auto insurance policy to your coverage while driving for a ridesharing company. A rideshare endorsement may also offer additional coverages like roadside assistance, rental car reimbursement and reimbursement for the difference between your policy's deductible and the ridesharing company's deductible. What does a rideshare company's insurance policy cover? While companies like Uber and Lyft offer some coverage to drivers, your coverage status can change depending on where you're at in the rideshare process. Here are the coverages that the two popular rideshare platforms offer their drivers during three phases of their work: Coverage when the app is off Lyft: No coverage when the app is off. Your personal auto insurance policy covers your vehicle. No coverage when the app is off. Your personal auto insurance policy covers your vehicle. Uber: No coverage when the app is off. Your personal auto insurance policy covers your vehicle. Coverage while the app is on and waiting for a request Lyft: Third-party liability insurance of $50,000 per person of bodily injury coverage, $100,000 per accident for bodily injury coverage, and $25,000 per accident for property damage. In Arizona and Nebraska, these coverage limits drop to $25,000 per person for bodily injury coverage, $50,000 per accident for bodily injury coverage and $20,000 per accident for property damage coverage. Third-party liability insurance of $50,000 per person of bodily injury coverage, $100,000 per accident for bodily injury coverage, and $25,000 per accident for property damage. In Arizona and Nebraska, these coverage limits drop to $25,000 per person for bodily injury coverage, $50,000 per accident for bodily injury coverage and $20,000 per accident for property damage coverage. Uber: Third-party liability insurance of $50,000 per person of bodily injury coverage, $100,000 per accident for bodily injury coverage, and $25,000 per accident for property damage. Coverage while the app is on and a driver has accepted a trip and is en route to pick up passengers, or during rides Lyft: At least $1 million for third-party auto liability insurance, which is designed to act as primary coverage during rides. Contingent comprehensive and collision coverage is available as long as your insurance policy carries these coverages with a $2,500 deductible. At least $1 million for third-party auto liability insurance, which is designed to act as primary coverage during rides. Contingent comprehensive and collision coverage is available as long as your insurance policy carries these coverages with a $2,500 deductible. Uber: $1 million third-party liability coverage, uninsured/underinsured motorist bodily injury and/or first-party injury protection coverage, where limits vary by state. Uber also has contingent comprehensive and collision coverage with a $2,500 deductible up to the actual cash value of the car, as long as your personal policy carries these coverages. It's worth noting that with both Uber and Lyft, comprehensive and collision coverage only apply if you have those coverages on your underlying auto insurance policies. While these coverages can raise the cost of your policy, they can help repair or replace your car in a variety of situations. Comprehensive coverage can step in after situations like vandalism, theft or weather-related damage like hail. Collision coverage can repair or replace your vehicle after colliding with a car, tree, guardrail, or other objects, regardless of fault. Having comprehensive and collision coverage on your policy (sometimes called full coverage car insurance) for a car that you use for ridesharing could be beneficial. Both Uber and Lyft's policies come with a $2,500 deductible for this coverage, or the amount that a driver would need to pay out of pocket if a claim is filed. However, rideshare insurance can often help you cover a portion of that cost if you choose a lower deductible on your auto insurance policy with a rideshare endorsement. FAQs Do I need rideshare insurance? In many cases, a personal auto insurance policy won't cover you while driving for a ridesharing platform. However, coverage could apply if you add a ridesharing endorsement to your auto insurance policy to expand your car insurance coverage. Having rideshare insurance is equally important whether you drive part-time or full-time. If you're a seasonal driver, you can add rideshare coverage only for the times of the year that you're driving. How much is rideshare insurance? Rideshare insurance costs can vary. State Farm states that its rideshare driver coverage adds between 15% and 20% to the policy premium. However, getting several quotes and comparing rates can give you a better idea of your price. Bottom line Getting rideshare insurance can help you if you're involved in an accident while driving for a rideshare company. It may even be useful if you drive for an on-demand food or package delivery service. It's usually available as an endorsement to a personal auto insurance policy and can cover you in situations where the ridesharing company's insurance wouldn't apply. 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 auto insurance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of auto insurance products. To research the best auto insurance companies, we compiled dozens of data points on several auto insurance companies. 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 rideshare insurance companies. Our methodology To determine the best rideshare insurance companies, CNBC Select analyzed dozens of auto insurance companies that offered rideshare coverage as an endorsement to personal auto insurance policies and compared them based on the average annual price of personal auto insurance policies, customer satisfaction ratings and state availability. While narrowing down the best auto insurance companies for rideshare, we focused on an average annual premium for personal auto insurance policies from Bankrate. Policy limits included: $100,000 bodily injury liability per person $300,000 bodily injury liability per accident $50,000 property damage liability per accident $100,000 uninsured motorist bodily injury per person $300,000 uninsured motorist bodily injury per accident $500 collision deductible $500 comprehensive deductible We also considered the number of states where rideshare coverage was available and average ratings from J.D. Power's Auto Insurance Customer Satisfaction Survey from all over the U.S. Note that the premiums and policy structures advertised for auto insurance companies are subject to fluctuate in accordance with the company's policies. 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/2024/01/02/the-top-wall-street-analyst-calls-on-tuesday.html

UBER

Uber

Here are Tuesday's biggest analyst calls: Apple, Nvidia, Amazon, Meta, Tapestry, Boeing, Uber and more

Here are Tuesday's biggest calls on Wall Street: Bank of America names CVS a top pick Bank of America said CVS is a top idea for 2024. " CVS Health has two things it did not have during the past few years: 1) a clear path to accelerating earnings growth; and 2) appropriately reset expectations." Barclays downgrades Apple to underweight from equal weight Barclays said it's "time for a breather" for shares of Apple. "We are lowering our rating from Equal Weight to Underweight. IP15 has been lackluster and we believe IP16 should be the same." Stifel names Nvidia a top pick Stifel said Nvidia is the firm's new top idea. " NVDA is our new 'best idea' for AI/Accelerated compute." Jefferies upgrades Cube to buy from hold Jefferies said it sees share outperformance for the storage company in 2024. "We see an opportunity for CUBE to outperform in 1H24 and upgrade to Buy." Jefferies downgrades Choice to underperform from hold Jefferies downgraded the stock due to its pursuit of Wyndham. "We are downgrading CHH to Underperform from Hold given the elevated risks around its shares and business operations in its pursuit of WH." Jefferies upgrades Boston Properties to buy from hold Jefferies said the real estate company is "best-in-class." "We upgrade BXP to Buy, as we expect the stock to regain its historical valuation premium to peers (vs. in line today) given a better occ/earnings outlook and best-in-class portfolio." Wells Fargo reiterates Citi as overweight Wells Fargo said it's bullish on Citi shares over the next three years. "We expect stock to double to $100+ over 3 yrs. Increase 1 yr. PT from $60 to $70 given new Fed clarity on rates, and likely softer than proposed regulation." Piper Sandler upgrades nCino to overweight from equal weight Piper Sandler said it sees an attractive risk/reward for the fintech company. "We upgrade banking vertical SW leader NCNO on a favorable risk-reward…" Piper Sandler names Snowflake, Workday and Monday.com as top picks Piper Sandler named several cloud application software companies as top picks for 2024. "We flag WDAY, MNDY, and KVYO as three GARP ideas to own with compelling risk-reward profiles having CY25E EV/S multiples below 8x. … .For growth investors with a higher risk appetite, we flag SNOW and GLBE as two differentiated cloud software stocks with 30%+ compounder potential." D.A. Davidson names O'Reilly a top pick D.A. Davidson said the auto parts company is a top pick in 2024. "We are including O'Reilly Automotive , Inc. as our next 'Best-of-Breed Bison' company within the framework developed by D.A. Davidson's research team to find long term best in class companies with sustainable moats and favorable risk / reward dynamics." JPMorgan adds Tapestry to the focus list JPMorgan added Tapestry and said it sees "bottom-line growth accelerating." "Remain Overweight, adding shares to J.P. Morgan's Analyst Focus List as a value idea, and raising our Dec 24 Price Target to $46 based on 6x our CY25 adj. EBITDA." Baird upgrades Thoughtworks to overweight from neutral Baird said it sees growth accelerating for the tech consultancy company. "During 2023, TWKS was the second worst stock on our list (down 52%; S & P +24%) due to weak bookings, elongated sales cycles, and clients breaking larger programs into smaller contracts. … We expect accelerating growth in coming quarters, with estimates eventually biased higher as margins normalize." Goldman Sachs initiates Rollins as buy Goldman Sachs said the pest control company has a "differentiated" offering. "We believe ROL is a differentiated and leading provider of pest control services leveraged to strong route density, a unique multi-brand strategy that facilitates market share gains, and attractive business model characteristics including recurring revenues, defensiveness and operating leverage." B. Riley downgrades Brunswick to neutral from buy B. Riley downgraded the marine recreation company on valuation. "We are downgrading Brunswick Corporation (BC—Neutral, $106 PT) from Buy to Neutral with shares now within ~10% of our recently-raised PT after just surpassing our previous PT on 12/13." Deutsche Bank downgrades Estée Lauder to hold from buy Deutsche Bank downgraded the stock mainly on valuation. "Given recent price appreciation (ahead of our own expectations for the pacing of fundamental improvement), we downgrade EL and SMPL from Buy to Hold." Deutsche Bank names Block and Bill Holdings as top picks Deutsche Bank said it's bullish on several fintech stocks heading into 2024. "Our top picks for next year include Buy-rated names Block, Bill, and Marqeta." Barclays downgrades Regions to underweight from equal weight and Citizens to equal weight from overweight Barclays downgraded several regional banks on Tuesday due to concerns about slowing net interest income growth. "For CFG and RF , we expect net interest income growth to lag peers in the near term." JMP names DoorDash a top pick JMP said the stock is underappreciated in 2024. "With a stable macro and new verticals supporting bookings growth, we think incremental margins are underappreciated in 2024 as DoorDash digests past investments, and we are the Street-high estimate for DoorDash's 2024 EBITDA." Bank of America names Boeing a top pick Bank of America said it's bullish on Boeing heading into 2024. "On the OEM front, we see several catalysts for Boeing going into 2024 and see opportunities for Howmet to continue to benefit from pricing power as one of the few western titanium structures suppliers." Bank of America upgrades Brady to buy from underperform Bank of America said shares of the manufacturing company are attractively valued. "We upgrade Brady Corp (BRC) and Pactiv Evergreen (PTVE) to Buy (from Underperform and Neutral, respectively), mainly on opportunities for growth and still-attractive valuations looking ahead to 2024." Stephens upgrades American Express to equal weight from overweight Stephens said the company is a beneficiary if interest rates fall in 2024. "With management having already implicitly guided to a 2024 guidance miss on a December webcast, investors are now focused on 2025 estimates, and we think American Express can return to its historical revenue and EPS y/y growth targets by then." Evercore ISI downgrades Southwest to in line from outperform Evercore ISI said in its downgrade of Southwest that it sees a more "balanced" risk/reward. "We're moving to the sidelines as the near-term risk reward is balanced, in our view. 2023 was a transition year for the company as it recovered from operational challenges in December of 2022 and worked to get new labor contracts in place." D.A. Davidson downgrades Hasbro to neutral from buy D.A. Davidson downgraded Hasbro mainly on valuation. "Shares are up ~20% in two months, and we are taking this opportunity to cut our below-consensus estimates and downgrade to NEUTRAL from Buy." Wells Fargo names Uber a top pick Wells Fargo said Uber is a top pick in 2024. "Continue to see Uber 2024 - 2026 stock repurchase capacity of $27B (20% of mkt cap), we expect formal capital return framework introduced 1H:24." Wells Fargo upgrades Expedia and Booking Holdings to equal weight from underweight Wells Fargo upgraded several travel booking sites on Tuesday and says gross bookings estimates are achievable. "We preview 2024 for the OTA & alternative accomodation sectors, upgrading BKNG & EXPE to Equal Weight in the process. Based on top-down analysis, we see BKNG / EXPE 2024 GBs [gross bookings] ests as achievable and our '23 competitive intensity thesis did not play out." Cantor Fitzgerald upgrades Sprout Social to buy from hold Cantor Fitzgerald said the software company is attractively valued for 2024. "We are upgrading shares of Sprout Social to Overweight from Neutral and increasing our PT to $74 from $48." Barclays upgrades Evergy to overweight from equal weight Barclays said in its upgrade of the electric services company that the stock is attractive. "For EVRG , we see the stock as attractive at a 13% P/E discount to large cap peers, trading near peers with arguably more rate execution risk in 2024 and lower-quality balance sheets." Canaccord names Amazon, Meta and Alphabet top picks Canaccord said Amazon, Meta and Alphabet could see "further expansion" in 2024. "Among our covered large and mega caps, we like META, GOOGL, SPOT, UBER and AMZN. While we acknowledge that these five names saw significant rallies in their share prices in 2023, we still think their respective multiples are reasonable and could see further expansion." Oppenheimer upgrades Moderna to outperform from perform Oppenheimer said in its upgrade of the stock that it sees "commercial and pipeline visibility." "We believe that MRNA' s execution in recent years has addressed the majority of our concerns. We see top-line sales starting to grow in 2025E, with multiple product launches next 12-18 months."

https://www.cnbc.com/2023/08/19/mark-cuban-passed-on-uber-stake-that-would-be-worth-2point3-billion-now.html

UBER

Uber

Mark Cuban passed on an early Uber investment—his $250,000 would be worth $2.3 billion today: ‘Whoops’

Even billionaires kick themselves for passing on investment opportunities that turned out to be incredibly lucrative. In Mark Cuban's case, he regrets not investing in Uber. He was offered the chance to invest at a $10 million valuation by Uber co-founder Travis Kalanick in 2009, and turned it down — because he thought the ridesharing company wasn't worth that much, he said on a recent episode of comedian Kevin Hart's Peacock talk show "Hart to Heart." "Just think: If I would've given him $250,000 on a [$10 million] valuation, it'd be billions," Cuban said. Specifically, given Uber's market capitalization of $90.1 billion as of Friday, Cuban's $250,000 would be worth $2.25 billion today. "I mean, I've done OK. But, still," said Cuban, whose net worth is currently estimated at $5.1 billion. Cuban and Kalanick already had history at the time: Cuban invested $1.7 million in Kalanick's previous venture, a peer-to-peer networking startup called Red Swoosh, in 2005. When Kalanick sold the startup to cloud services company Akamai in 2007 for $18.7 million, "we made a little bit of money," Cuban said. That meant he was receptive to Kalanick's Uber pitch. "He comes to me, like, first off [and says]: 'I've got this thing. It's going to replace taxi cabs..." Cuban recounted. "I was like, 'I love it.'" However, Cuban said he didn't agree with Kalanick's $10 million valuation of the startup at the time: "I said, 'I'll do it at [a] $5 million valuation...' for Uber!" "[Kalanick] never came back to me. He got somebody else. Whoops," Cuban said. Passing on Uber was a shared experience for Cuban and Hart, it turns out. Hart lamented his own mistake of not investing as much as $75,000 in Uber early on, which he said could have made him "$100-plus million," had he jumped at the chance. Hart said music manager and Uber investor Troy Carter tried to convince the comedian to invest in the company before it became a household name. Carter described the company as "basically, like strangers giving people they don't know rides...' [and] I was like, 'This has to be the stupidest s–t I've ever heard'" Hart said. "Don't feel bad," Cuban replied, noting that he probably missed out on a greater return than Hart would have seen. Cuban said he did offer Kalanick some advice on the likely significant obstacles Uber would face, including the major regulatory pains the company would endure and "dealing with all of the taxicab commissions that are going to try to put you out of business." The years-long regret of failing to invest in Uber has stuck with Cuban. At SXSW in 2017, the billionaire was adamant that he doesn't plan on missing the boat on any more disruptive startup ideas, like he did with Uber. "If you really believe and you really have something that you think is going to disrupt the world, bring it to me," he said. "I won't make the same mistake twice." Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank," which features Mark Cuban as a panelist. DON'T MISS: Want to be smarter and more successful with your money, work & life? Sign up for our new newsletter! Get CNBC's free Warren Buffett Guide to Investing, which distills the billionaire's No. 1 best piece of advice for regular investors, do's and don'ts, and three key investing principles into a clear and simple guidebook.

https://www.cnbc.com/2023/10/04/uber-will-now-pick-up-your-ups-fedex-and-usps-packages.html

UBER

Uber

Uber will now pick up your packages and take them to UPS, FedEx or USPS

Uber announced Wednesday it's now offering return package shipping through mail carriers through its Uber and Uber Eats apps. The apps, traditionally used for ride-hailing and food delivery services, now offer the "return a package" feature, which allows customers to send up to five packages at a time for a $5 flat fee or $3 for Uber One members. Drivers will pick up the packages and drop them off at UPS, FedEx or USPS. "Return a package" is available in dozens of major metro areas across the country and will exist in addition to the Uber Connect program, which launched in 2020 as a same-day delivery option for customers to send packages to and from local destinations. Packages that are shipped through Uber Connect must be prepaid, sealed and ready to be shipped. Additionally, packages must weigh less than 30 pounds and be under $100 in value. Uber's shipping guidelines prohibit the delivery of some items, such as money, gift cards and fragile items. Customers will also be able to follow their packages with live tracking in the Uber app, which will include a photo of the receipt once the delivery has been completed. In addition to the flat fee, standard tipping options are available for package deliveries.

https://www.cnbc.com/2023/11/10/cramers-lightning-round-uber-is-a-buy.html

UBER

Uber

Cramer's Lightning Round: Uber is a buy

Stock Chart Icon Stock chart icon Advanced Micro Devices' year-to-date stock performance. Advanced Micro Devices : "...I put this in the bull pen, and I just got two greedy and now it's going up, and I think it's not going to stop here. AMD's a good hold." Stock Chart Icon Stock chart icon Teladoc's year-to-date stock performance. Teladoc : "I think it's a very crowded area. It was great, and then everyone else decided it was such a good business that it wreck their margins. So I'm going to say please do not buy that stock." Stock Chart Icon Stock chart icon Palo Alto Networks' year-to-date stock performance. Palo Alto Networks : "PANW is doing terrific. They do report next week. I expect a very good quarter for that cybersecurity company." Stock Chart Icon Stock chart icon Howard Hughes' year-to-date stock performance. Howard Hughes : "That's a asset play, and we are really all about trying to figure out earnings growth, particularly higher earnings growth that we can own for the long term. And I do not want to be involved in a break up story, which is what I think you have there." Stock Chart Icon Stock chart icon EQT's year-to-date stock performance. EQT : "I like EQT. But as much as I like EQT, I like Coterra even more. It's cheaper, and I think it has better assets." Stock Chart Icon Stock chart icon BRC's year-to-date stock performance. BRC : "I care about whether they're making a lot of money...I don't see them making enough money for me to think it's an inexpensive stock." Stock Chart Icon Stock chart icon Uber's year-to-date stock performance. Uber : "[Buy, buy, buy!] I think this was the beginning of what is going to be a period where some of these companies that became public during the era are just breaking away from the pack. That was an amazing number, Uber, and let me throw in DoorDash." Stock Chart Icon Stock chart icon SoFi's year-to-date stock performance. SoFi : "...I think the stock is incredibly inexpensive, and it had a great quarter." watch now Jim Cramer's Guide to Investing Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest smarter.

https://www.cnbc.com/2023/10/11/uber-eats-now-lets-you-order-from-two-stores-at-the-same-time.html

UBER

Uber

Uber Eats now lets customers order from two stores at the same time

Uber announced Wednesday that its Uber Eats app now allows customers to order from two stores at the same time. So, for example, if you want to order an Italian dinner and wine to go with it from a nearby liquor store, you should be able to do that — and you won't have to pay an additional delivery fee. Uber said it's part of the company's effort to be greener and to help save customers money. It may help the company keep customers from using competitors such as DoorDash, which has had a similar feature since 2021. Unlike DoorDash's option, Uber Eats allows you to add from a secondary location before checkout. Uber told CNBC that the options for how near the second location needs to be to the first are contingent on time of day, driver availability and other market factors. It should be fairly easy to use. Once you finish choosing food from your first location, you'll see a notification bar that says, "Bundle another store," which lets you add goods from somewhere else.

https://www.cnbc.com/2023/08/01/uber-uber-q2-earnings-2023.html

UBER

Uber

Uber shares drop after revenue miss, despite first operating profit

Uber CEO Dara Khosrowshahi addresses the audience during the keynote at the start an Uber products launch in San Francisco, California on September 26, 2019. Shares of Uber closed down more than 5% on Tuesday after the company reported second-quarter results that missed analysts' expectations for revenue but offered rosy guidance. Here's how the company did: Earnings per share: 18 cents vs. 1 cent loss expected by analysts, according to Refinitiv. 18 cents vs. 1 cent loss expected by analysts, according to Refinitiv. Revenue: $9.23 billion vs. $9.33 billion expected by analysts, according to Refinitiv. Revenue for the quarter was up 14% from the same quarter last year. Uber reported net income of $394 million, or 18 cents per share, compared with a net loss of $2.6 billion, or $1.33 per share, in the same quarter last year. That includes a $386 million net benefit from revaluations of Uber's equity investments. In a prepared statement, CEO Dara Khosrowshahi said the ride-hailing company achieved two major milestones during the quarter: its first quarter of free cash flow over $1 billion and its first GAAP operating profit. He added in an interview with CNBC's "Squawk Box" on Tuesday that the company plans to be profitable every quarter going forward. "Both of these milestones were achieved through a combination of disciplined execution, record audience and strong engagement," Khosrowshahi said in the statement. Khosrowshahi said during the quarterly call with investors Tuesday that CFO Nelson Chai will depart the company in January 2024. Chai has served as Uber's CFO since 2018, and he helped the company go public in 2019. Uber said it has launched a search for his successor. Uber reported adjusted EBITDA of $916 million, up 152% year over year. Gross bookings for the quarter came in at $33.6 billion, up 16% year over year. For the third quarter of 2023, Uber said it expects to report gross bookings between $34 billion and $35 billion and adjusted EBITDA of $975 million to $1.025 billion, both ahead of analysts' expectations, according to StreetAccount. Here's how Uber's largest business segments performed: Mobility (gross bookings): $16.73 billion, up 25% year-over-year Delivery (gross bookings): $15.60 billion, up 12% year-over-year Uber's mobility segment reported $4.89 billion in revenue, compared with delivery's $3.06 billion. Its freight business booked $1.28 billion in sales for the quarter, down from the $1.83 billion it reported for the same quarter last year. Khosrowshahi told CNBC freight has remained a challenging spot for Uber since consumers are spending more on services than on shipping goods. He said services spend ultimately benefits the company's mobility and delivery businesses, but that Uber is adjusting costs for freight. The number of Uber's monthly active platform consumers reached 137 million in the second quarter, up 12% year over year. There were 2.3 billion trips completed on the platform during the period, up 22% year over year.

https://www.cnbc.com/2023/09/07/uber-ceo-this-underappreciated-skill-sets-highly-successful-leaders-apart.html

UBER

Uber

Uber CEO: This 'underappreciated skill' separates highly successful leaders from most people

Khosrowshahi explained: "There are all kinds of courses on executive leadership, and I still haven't seen a course on listening. Yet the common theme I've seen in life and with executives that are very high up on the ladder is that the higher you go in a company, the less you actually know about what's really happening on the ground." "Listening is such an underappreciated skill," the 54-year-old executive said Wednesday during an event for industry leaders hosted by GE in New York City. If you ask Uber CEO Dara Khosrowshahi, the C-Suite skill that matters most isn't decisiveness or the ability to command a room — it's being a good listener. Speaking with Ford CEO Jim Farley, the head of the ride-hailing company stressed the importance of "walking the halls" and talking directly to employees across various teams to build a more positive, productive work environment. "I see a lot of managers managing to KPIs versus actually understanding the product that they're delivering and how it's made," he explained. "As a leader, you've got to set that example." At the height of the pandemic, Khosrowshahi said he moonlighted as an Uber driver to learn more about, and improve, the driver experience. This isn't the first time Khosrowshahi has underscored listening as a critical leadership skill. In a recent interview with the Wall Street Journal, he said listening was the most important thing he learned from one of his mentors, media mogul Barry Diller. "He really values learning even though he's an incredibly accomplished person," he said of Diller. "He listens, he'll push back against you, and ultimately you both leave the meeting having learned something." Sarah Sarkis, a psychologist who works with Fortune 100 executives at Exos, a performance coaching company, agrees with Khosrowshahi. What sets high achievers apart from everyone else, Sarkis told CNBC Make It in July, is that they excel at communicating — and active listening is "an important, underrated" part of that, she said. "Few people know how to be fully present in a conversation and respond thoughtfully to what another person is saying," Sarkis added.

https://www.cnbc.com/2023/09/19/signs-of-a-narcissist-and-exactly-how-to-respond-according-to-harvard-trained-expert.html

UDR

UDR, Inc.

This is the best way to handle a conversational narcissist, says behavioral scientist and Harvard-trained coach

Have you ever talked to someone who, every time you shared something, would twist the interaction around to make it all about them? You may have encountered a "conversational narcissist." The term, coined by sociologist Charles Derber, describes a person who often dominates the conversation, with little regard for the viewpoints of others. Hogging a conversation could reflect inflated self-esteem or even deep-rooted insecurities, and it can be draining to be on the other end. Don't miss: If you answer these 10 questions correctly, you have higher emotional intelligence than most people As a behavioral scientist and Harvard trained leadership coach, here's exactly how I spot a conversational narcissist — and the best way to respond. 1. They don't ask you questions. You ask someone a question and they happily dive into a monologue about all that's happening in their life. When they're finished, rather than reciprocating, they move on to a new topic. How to respond: Gently steer the conversation back to a more balanced dialogue. Use a technique called "conversational threading" to pick up on keywords or topics that they mentioned and incorporate them into your response. For example, "That sounds like an action-packed weekend. Mine was similar …" This creates a natural segue for you to re-enter the conversation. 2. They're oblivious to their excessive chattiness. You're talking to someone who is so passionate about what they're speaking about that they seldom pause to gauge your reactions. You end up feeling like a convenient audience member for their latest monologue. How to respond: Use tactful lines like, "I have a few thoughts on that, too," or, "I'd love to share some of my own experiences." This is an assertive but polite way steer the conversation towards a more mutual exchange. If that doesn't work, prepare an exit strategy. It could be a pre-scheduled phone call or a meeting you need to get to that conveniently cuts the conversation short. 3. They always bring it back to their own interests. The moment the conversation veers away from them, they find a way to redirect it. You share your excitement about an upcoming holiday to Spain, for example, but without fail, they bring up the trip they took to Italy three years ago. How to respond: You could use the "I need advice" technique, which involves asking a direct question and prompts the other person to stay on topic. For example, "It sounds like you had a great time in Italy. Do you have any travel tips for me to keep in mind as I prepare for Spain?" Or, use the "acknowledge and segue" approach: "That sounds great! What I was trying to share about my own situation is …" 4. They constantly talk down to you. A friend or colleague uses patronizing or condescending language — it may be unintentional, but sometimes that can be hard to gauge — and it feels like they want you to see that they are the most knowledgeable person in a room. How to respond: Set clear boundaries and resist the urge to respond defensively. You could say, "I'm happy to continue this conversation as long as we keep it respectful." If you're in a group setting, you could facilitate someone else to enter the conversation with something like, "Jess has experience in this area, too, right? What are your thoughts on it?" 5. They repeatedly one-up you.

https://www.cnbc.com/2023/02/28/fortress-stocks-beating-the-market-this-year-for-a-perilous-march.html

UDR

UDR, Inc.

These 'fortress' stocks are beating the market this year as a perilous March looms

The stock market in March is looking grim, but certain "fortress" stocks can allow investors to play defense and beat the market. All the major indexes are headed toward a losing February. As of Monday's close, the Dow Jones Industrial Average is down 3.5% for the month. Meanwhile, the S & P 500 and Nasdaq Composite are down 2.3% and 1%, respectively, in February. Concerns over persistent inflation, further fueled by January's higher-than-expected rise in the core personal consumption expenditures index , sparked a broad market sell-off. Many investors now believe that the bear market is here to stay, with Morgan Stanley's chief U.S. equity strategist Mike Wilson stating that "March is a high risk month for the bear market to resume ." With this backdrop, CNBC screened for fortress stocks that can withstand and outperform the market. The following list features stocks that had low volatility levels, or a beta less than 1.0. They also have a dividend yield greater than 2%, as well as earnings growth higher than 1% in 2023. To beat the market, a stock must also be up more than 3.7% year to date. Here are the top 10 fortress stocks from our screener: Several regional banks with solid finances made the list, including Cincinnati Financial , M & T Bank and U.S. Bancorp . Piper Sandler recently upgraded U.S. Bancorp to overweight from neutral, saying it is "one of the sturdiest large regional stories in an uncertain environment." U.S. Bancorp's per-share earnings in 2023 are projected to grow by almost 35%, with current dividend yields at 4.0%. However, while shares have gained more than 9% so for this year, the stock has tumbled 15% over the past 12 months. Power company Edison International also made the cut, with its dividend yield currently at 4.3%. The stock is well liked by analysts, with buy ratings from 43.7% percent of analysts covering the name. Edison also has shown steady growth, with shares up 7% over the past 12 months. Garmin was the only tech company on the list, with its per-share earnings expected to grow 2.5%. The fitness tracker maker recently posted fourth-quarter earnings that beat consensus estimates, according to FactSet. Shares have rallied more than 6% in 2023, but they are down almost 11% over the past 12 months. To be sure, analysts are mixed on the stock, with just 28.5% of them rating it a buy, and 71.4% issuing a hold rating. Real estate investment trust UDR has the highest 2023 expected per-share earnings growth on the list of 95.4%. Although its shares have dropped 21% in the past 12 months, they have rallied about 12% year to date. Analysts are also optimistic on the stock, with half of those covering it issuing a buy rating, and an average price target with a 9.4% upside from the stock's Monday closing price.

https://www.cnbc.com/select/best-credit-cards-for-freelancers/

UDR

UDR, Inc.

The best credit cards for freelancers and independent contractors

Best overall and best for no annual fee Ink Business Unlimited® Credit Card Learn More On Chase's secure site Rewards Earn 1.5% cash back on every purchase made for your business Welcome bonus Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening Annual fee $0 Intro APR 0% for the first 12 months from account opening on purchases; N/A for balance transfers Regular APR 18.49% - 24.49% variable Balance transfer fee Either $5 or 5% of the amount of each transfer, whichever is greater Foreign transaction fee 3% Credit needed Good/Excellent Terms apply. Pros No annual fee Free employee cards Simple cash-back program Special financing offer for purchases Cons 3% fee charged on purchases made outside the U.S. Learn More View More Best for cash back The American Express Blue Business Cash™ Card Learn More On the American Express secure site Rewards Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% cash back earned is automatically credited to your statement Welcome bonus Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months. Annual fee $0 Intro APR 0% for 12 months on purchases from date of account opening Regular APR 18.49% - 26.49% % variable; APRs will not exceed 29.99% Balance transfer fee Foreign transaction fee 2.7% Credit needed Excellent See rates and fees, terms apply. Pros No annual fee Straightforward rewards program Spend beyond your credit limit with Expanded Buying Power Cons 2.7% foreign transaction fee Learn More View More Who's this for? The American Express Blue Business Cash™ Card is a good choice if you're searching for a rewarding business card without any complicated benefits to navigate. It has no annual fee (see rates and fees) and earns a flat 2% cash back on the first $50,000 in purchases per calendar year (then 1% back). Standout benefits: This card is a great option for anyone starting their freelancing journey not just because it's simple, but because it can be helpful for financing your start-up costs. For the first 12 months from when you open the account, purchases qualify for 0% intro APR (then a variable 18.49%-26.49% APR applies; see rates and fees). [ Jump to more details ] Best for travel Ink Business Preferred® Credit Card Learn More On Chase's secure site Rewards Earn 3X points per $1 on the first $150,000 spent in combined purchases in select categories each account anniversary year (travel; shipping purchases; internet, cable and phone services; and advertising purchases with social media sites and search engines), 1X point per $1 on all other purchases Welcome bonus Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. Annual fee $95 Intro APR None Regular APR 21.24% - 26.24% variable Balance transfer fee Either $5 or 5% of the amount of each transfer, whichever is greater Foreign transaction fee None Credit needed Good/Excellent Terms apply. Read our Ink Business Preferred® Credit Card review. Pros Free employee cards Points are worth 25% more when you redeem for travel through Chase TravelSM 1:1 point transfer to leading frequent travel programs No fee charged on purchases made outside the U.S. Generous welcome bonus worth up to $1,000 Cons $95 annual fee No introductory 0% financing offers for purchases or balance transfers Learn More View More Who's this for? If you want to earn travel rewards for your freelance expenses, the Ink Business Preferred® Credit Card is hard to beat. Plus, this card earns Chase Ultimate Rewards® points, which are some of the most versatile travel rewards out there. Chase points can be redeemed for cash back, used to book travel through the Chase travel portal and transferred to 14 different airline and hotel loyalty programs. Standout benefits: One of the best aspects of the Chase Ink Business Preferred card is its ability to earn rewards and earn them fast. Cardholders earn 3X points on the first $150,000 in combined purchases on shipping; advertising expenses through social media and search engines; internet, cable and phone services; and travel. Those categories cover a broad swath of common purchases freelancers and independent contractors are likely to make. [ Jump to more details ] Best for 0% Intro APR offer U.S. Bank Triple Cash Rewards Visa® Business Card Learn More Rewards Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center, 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants, 1% cash back on all other eligible net purchases Welcome bonus Earn $500 in cash back. Just spend $4,500 on the account owner's card in the first 150 days of opening your account. Annual fee $0 Intro APR 0% for 15 billing cycles on purchases and balance transfers Regular APR 19.24% - 28.24% (Variable) Balance transfer fee Either $5 or 3% of the amount of each transfer, whichever is greater Foreign transaction fee 3% Credit needed Excellent/Good See rates and fees, terms apply. Pros No annual fee $500 welcome bonus offer No limit on cash back earned Interest-free period for the first 15 billing cycles on purchases and balance transfers Annual $100 statement credit for recurring software subscription services Cons 3% foreign transaction fee Learn More View More Who's this for? The U.S. Bank Triple Cash Rewards Visa® Business Card is a no-annual-fee cash-back business card that's stacked with useful perks, as well as a valuable welcome bonus offer. Standout benefits: If you want a 0% intro APR offer, then this is the business card for you. It comes with a 0% introductory APR for 15 months for purchases and balance transfers (then a variable APR of 19.24%-28.24% applies). The introductory 0%-APR offer applies to balances transferred within 30 days of opening the account and a balance transfer fee of 3% ($5 minimum) applies. [ Jump to more details ] Best for average credit Capital One Spark 1% Classic Learn More Information about the Capital One Spark Classic has been collected independently by CNBC Select and has not been reviewed or provided by the issuer prior to publication. Rewards Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel and 1% on all other purchases Welcome bonus None Annual fee $0 Intro APR None Regular APR 30.74% variable Balance transfer fee None Foreign transaction fee None Credit needed Average Terms apply. Pros No annual fee Free employee cards Average credit may qualify Redeem cash back for any amount at any time No fee charged on purchases made outside the U.S. Cons No welcome bonus No introductory 0% financing offers for purchases or balance transfers Learn More View More Who's this for? If you're having a hard time getting approved for other business credit cards, the *Capital One Spark 1% Classic might be a good fit for you. You can be approved for this card with an average or fair credit score, which is a FICO Score of 580 and up. Standout benefits: The *Capital One Spark Classic provides an opportunity to earn cash back while you're building your credit. You'll earn 5% back on hotels and rental cars you book through Capital One Travel and 1% back on all other purchases. [ Jump to more details ] More on our top credit cards for freelancers Ink Business Unlimited® Credit Card The American Express Blue Business Cash™ Card Ink Business Preferred® Credit Card The Ink Business Preferred Credit Card is a low-cost card that offers useful benefits, valuable rewards and a generous welcome bonus. Rewards 5X points on Lyft rides through March 2025 3X points per dollar on the first $150,000 spent in combined purchases in select categories each account anniversary year (travel; shipping purchases; internet, cable and phone services; and advertising purchases with social media sites and search engines) 1X point per dollar spent on all other purchases Welcome bonus Earn 100,000 bonus points after you spend $8,000 on purchases in the first three months from account opening. Annual fee $95 Notable perks The Chase Ultimate Rewards® points you earn with this card can be redeemed in a variety of ways. Points are worth 25% more (1.25 cents each) when you use them to pay for travel you book through Chase TravelSM. Using this option alone makes the card's intro offer worth $1,250 in travel. You can potentially increase the value of your redemptions by transferring Chase points to a travel partner. You can book luxury hotels through World of Hyatt and posh business-class flights by transferring points to airlines such as Air Canada, United and Virgin Atlantic. The Ink Business Preferred Credit Card also has top-notch built-in insurance coverage that automatically applies to eligible purchases, such as cell phone protection, purchase protection and extended warranty coverage. When you pay for eligible travel with the card, you'll also get insurance for rental cars (collision only), trip delays, trip cancellations/interruptions and baggage delays. [ Return to card summary ] Check out CNBC Select's best business credit cards for travel . U.S. Bank Triple Cash Rewards Visa® Business Card The U.S. Bank Triple Cash Rewards Visa® Business Card is a no annual fee card that earns cashback across multiple useful bonus categories. Rewards 5% back on prepaid hotels and car rentals booked directly through the US Bank Rewards Center 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants 1% cash back on all other purchases Welcome bonus Earn a $500 bonus after spending $4,500 on the account owner's card in the first 150 days of opening your account. Annual fee $0 Notable perks The U.S. Bank Triple Cash Rewards Visa® Business Card has a generous introductory 0%-APR offer of 15 months (after, 19.24%-28.24% variable), which is three months longer than the 0%-APR offers available with most of the other top business cards. Plus, once every 12 months, you can earn a $100 statement credit for software services. To qualify for the $100 software credit, you need to make 11 consecutive months of eligible purchases directly with a software provider. [ Return to card summary ] Check out CNBC Select's best 0% APR credit cards . *Capital One Spark 1% Classic for Business You typically only need an average credit score (580+) to get approved for the *Capital One Spark 1% Classic, which makes it an accessible card for freelancers with weaker credit scores. Rewards 5% back on hotels and rental cars you book through the Capital One Travel site 1% back on all other purchases Welcome bonus None. Annual fee $0 Notable perks The main appeal of the *Capital One Spark 1% Classic is that it's easy to get approved for and can help jumpstart the process of rebuilding your credit. It also has no foreign transaction fees and offers roadside assistance and extended warranty protection. Cardholders also have access to various Capital One business benefits. These account management tools help you streamline accounting by letting you choose your due date, view recurring transactions and download purchase records to Quicken®, QuickBooks® and Excel®. [ Return to card summary ] Check out CNBC Select's best credit cards for building credit . FAQs Should a freelancer get a business credit card? A freelancer or independent contractor may not need a business card if the business is small. However, having a business card can make bookkeeping much easier by allowing you to keep business and personal transactions separated. How can I get a credit card if I'm self-employed? If you're self-employed, you can still apply for a personal or business credit card just like you would if you were a regular employee. When applying for a business card, you're personal income and credit history also factor into the decision. Can I get a business card if I don't have an EIN? If you're a sole proprietor, you typically can use your Social Security number as your business tax ID instead of an EIN on a business credit card application. Bottom line Freelancers and independent contractors, either on a full-time or part-time basis, can benefit from opening a business credit card. These types of cards make it easier to separate personal and business expenses for tax season and offer benefits and rewards that help maximize your spending. There are options for earning cash back or travel rewards, and you can also take advantage of lucrative welcome bonuses and 0% intro APR offers. 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 business 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 top business credit cards for freelancers. Our methodology To determine which cards are the best for freelancers, CNBC Select evaluated credit cards offered by the biggest banks, financial companies and credit unions that allow anyone to join. We compared each card on a range of features, including rewards, annual fee, welcome bonus, introductory and standard APR, balance transfer fee and foreign transaction fees, as well as factors such as required credit and customer reviews when available. 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. For rates and fees of the Blue Business® Cash Credit Card from American Express, click here. *Information about the Capital One Spark 1% Classic Credit Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication. 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/2019/10/17/steve-jobs-vision-for-the-office-of-the-future-in-the-1980s.html

UDR

UDR, Inc.

In 1981, this was Steve Jobs' vision for the office of the future

And according to an Inc. cover story that ran in October 1981 but was recently resurfaced by the magazine, Jobs envisioned a future with computers on every worker's desk, a progressive culture where technology creates more opportunities for employees and a workplace without secretaries . At the time, Apple and its co-founder, Steve Jobs, were trying to change that. Jobs wanted to revolutionize the workplace by making computers more affordable and easier to use. Over the past few decades, computers have changed the way pretty much every workplace does business. But in the early 1980s, that wasn't quite the case, as you were still far more likely to see an office full of typewriters than a computer on every desk. In 1980, according to Inc., Apple's then-president Mike Scott sent out an office memo: "EFFECTIVE IMMEDIATELY!! NO MORE TYPEWRITERS ARE TO BE PURCHASED, LEASED, etc., etc. Apple is an innovative company. We must believe and lead in all areas. If word processing is so neat, then let's all use it! Goal: by 1-1-81, NO typewriters at Apple... We believe the typewriter is obsolete. Let's prove it inside before we try and convince our customers." In addition to leading by example, Jobs — who later became notorious for being a divisive boss, who could inspire employees one minute and tear them down the next — also painted the decision to stop using typewriters as an effort to improve workplace culture for Apple's then roughly 2,200 employees. (Today, the company has 130,000 employees.) "Not only do our area associates have the freedom to do more rewarding, enriching tasks, they have the chance to get involved in solving problems that can ultimately affect the success of the entire company," Jobs told the magazine at the time. It's also worth noting that, much like today, the issue of an automated workplace replacing human workers was already raising concerns. But Jobs said personal computers would open up new opportunities for employees while allowing them to work more efficiently. (While that may be true, experts also cite ill effects of automation since the '80s, and there is debate as to what will happen moving forward. A 2017 McKinsey & Company report says up to a third of the U.S. workforce may need to find a new job due to automation by 2030, while a 2017 Gartner report says artificial intelligence will create more jobs than it eliminates.)

https://www.cnbc.com/2019/06/26/women-ceos-outearn-male-top-execs-according-to-a-new-study-by-equilar.html

UDR

UDR, Inc.

Women CEOs outearn male top execs, according to a new study by Equilar

There is at least one place where women are earning more than men: the C-Suite. Women chief executive officers at America's biggest companies took home median pay of more than $13 million in 2018, compared with the $12 million that men took home. That's according to a new Equilar study, which looked at base salary, bonus, stock-based compensation and other benefits. The study found that women chief executives have made more than their male counterparts each of the last five years. During that time-frame, overall compensation has grown 25%. Only one woman managed to crack the overall list of the 10 highest-paid CEOs last year. Safra Catz of Oracle made about $108 million, coming in behind Tesla's Elon Musk, Discovery's David Zaslav and Catz's co-CEO at Oracle, Mark Hurd. These are the 10 highest-paid CEOs in 2018, according to Equilar:

https://www.cnbc.com/2022/05/26/during-your-job-search-look-at-internal-roles.html

UDR

UDR, Inc.

54% of jobseekers overlook openings at their company—why experts say that could be a mistake

The Great Resignation continues, with nearly half, 45% of U.S. workers actively looking for a new job or planning to within the year, according to recruitment company Employ Inc.'s 2022 Job Seeker Nation Report. Job seekers find new roles in a myriad ways, but some are overlooking opportunities directly around them. More than half, 54% have not looked internally for a new position, according to the report. Their reasons likely vary. Nearly half, 43% of employees say they don't have enough opportunities for internal mobility, according to a 2021 report by outplacement and career mobility provider Randstad RiseSmart's Career Mobility Report. Others may simply automatically look elsewhere when they're ready for their next role. "I think what happens is that when someone feels frustrated with their role or their employment situation, the first instinct is to look for a new job" elsewhere, says Carolyn Kleiman, career expert at ResumeBuilder.com. But depending on your situation, that could mean you lose out on meaningful opportunities for career growth. Here's what experts recommend thinking about when deciding whether to apply internally or not.

https://www.cnbc.com/select/amex-business-gold-card-review/

UDR

UDR, Inc.

Amex Business Gold review: New benefits available now, annual fee increase coming soon

American Express® Business Gold Card Review Welcome bonus Benefits and perks The Amex Business Gold Card has two monthly statement credits, which can be more valuable than its annual fee (see rates and fees). Cardholders can earn: Up to $240 in statement credits per year (up to $20 a month) for eligible purchases at FedEx, Grubhub and office supply stores. Enrollment required. A monthly Walmart+ membership credit (worth $155 annually) It also offers a handful of **purchase and travel protections, including: Baggage insurance (Underwritten by AMEX Assurance Company) Rental car loss and damage insurance (secondary) (Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.) Trip delay insurance (Underwritten by New Hampshire Insurance Company, an AIG Company) Purchase protection (Underwritten by AMEX Assurance Company) Extended warranty protection (Underwritten by AMEX Assurance Company) Cell phone insurance (Underwritten by New Hampshire Insurance Company, an AIG Company) Until Feb. 1, 2024, you can get a 25% points rebate when you use the Pay with Points feature to book certain types of flights through the Amex Travel site. Airfare that qualifies for the 25% points rebate includes all flights with your selected airline and any first- or business-class flight. The airlines you can choose as your selected airline are: Alaska Airlines American Airlines Delta Hawaiian Airlines JetBlue Spirit Airlines Southwest Airlines United Airlines You can select your airline when you open an account and you can change this selection each January. This rebate is limited to up to 250,000 points back per calendar year. Card members receive elite-like perks with Amex's The Hotel Collection program. Eligible bookings qualify for: Room upgrades at check-in (when available) Experience credit of up to $100 To be eligible for these benefits, you have to book through Amex Travel and the stay must be for two or more nights. How to earn and use Amex Membership Rewards points Earning The Amex Business Gold Card earns 4X Membership Rewards points on the first $150,000 in combined purchases you make in the two select categories where you spend the most each month (then 1X points). Until Feb. 1, 2024, the categories are: Airfare purchased directly from airlines U.S. shipping purchases U.S. dining purchases (including takeout and delivery) U.S. gas station purchases U.S. advertising purchases in select media (online, TV, radio) U.S. purchases made from electronic goods retailers and software and cloud system providers Transit purchases, including trains, ferries, tolls, parking, buses, subways, taxis and rideshare services Monthly wireless phone service charges made directly from a service provider in the U.S. Terms apply Starting Feb. 1, 2024, the shipping and airfare categories will no longer be eligible for 4X bonus points with this card. Other purchases earn Amex points at the following rates: 3X points on travel purchased through Amex Travel 1X points on all other purchases Redeeming You can redeem American Express Membership Rewards points for statement credits, travel (booked through Amex Travel), shopping, seat upgrades, gift cards and more. These redemptions generally have a value of one cent per point or less. If you want to maximize the value of Amex points, then you'll want to transfer them to Amex's partner travel loyalty programs. You can transfer Amex points to the following airlines and hotels: Aeroplan (Air Canada) Avianca Delta Etihad Marriott Bonvoy Aer Lingus AeroMexico Flying Blue (Air France & KLM) ANA British Airways Cathay Pacific Choice Hotels Emirates Hawaiian Airlines Hilton Iberia JetBlue Qantas Qatar Singapore Virgin Atlantic By taking advantage of partner award sweet spots, you can unlock incredible value. For example, you can transfer 88,000 points to ANA and book a round-trip business-class flight from the U.S. to Europe on a Star Alliance airline. If you paid out of pocket for the same ticket it could easily cost $3,000+, which means you could get a value of over 3.4 cents per point with that type of transfer. Rates and fees The Amex Business Gold Card has a *$295 annual fee and you can add up to 99 employee cards for no additional cost. The annual fee* is increasing to $375 on Feb. 1, 2024 for new cardmembers and account renewals. There are *no foreign transaction fees and it has a variable *APR of 19.49%-28.49%. The returned payment fee is *$39 and there is a late payment fee of the greater of $39 or 2.99% of any past due amount. *See rates and fees. Alternatives to the Amex Business Gold Card Amex Business Gold Card vs. Ink Business Preferred® Credit Card Ink Business Preferred® Credit Card Learn More On Chase's secure site Rewards Earn 3X points per $1 on the first $150,000 spent in combined purchases in select categories each account anniversary year (travel; shipping purchases; internet, cable and phone services; and advertising purchases with social media sites and search engines), 1X point per $1 on all other purchases Welcome bonus Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. Annual fee $95 Intro APR None Regular APR 21.24% - 26.24% variable Balance transfer fee Either $5 or 5% of the amount of each transfer, whichever is greater Foreign transaction fee None Credit needed Good/Excellent Terms apply. Read our Ink Business Preferred® Credit Card review. The Ink Business Preferred® Credit Card is a more affordable alternative to the Amex Business Gold Card. It has a $95 annual fee and earns Chase Ultimate Rewards® points, which have a comparable value to Amex Membership Rewards points. This card is also exceptionally rewarding for many common business expenses. It earns 3X Chase points on the first $150,000 in combined purchases per calendar year (then 1X points) in these categories: Shipping Advertising with social media sites and search engines Internet, cable and phone services Travel The Ink Business Preferred also has a strong suite of insurance protections, including primary rental car coverage, and cell phone insurance. Amex Business Gold Card vs. The Business Platinum Card® from American Express The Business Platinum Card® from American Express Learn More On the American Express secure site Rewards Earn 5X Membership Rewards® points on flights and prepaid hotels on AmexTravel.com and 1X points for each dollar you spend on eligible purchases. Also, earn 1.5X points (that's an extra half point per dollar) on each eligible purchases at US construction material, hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year. Welcome bonus Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases within the first 3 months of card membership Annual fee $695 Intro APR N/A Regular APR 19.49% - 28.49% variable Balance transfer fee N/A Foreign transaction fee None Credit needed Excellent/Good See rates and fees, terms apply. Anyone who wants a business card that's loaded with luxury benefits will prefer The Business Platinum Card® from American Express over the Amex Business Gold Card. The Amex Business Platinum Card isn't as rewarding for business purchases and it does have a higher $695 annual fee (see rates and fees). But it has a suite of benefits that far exceeds the value offered by Amex Business Gold's perks, including: Up to $400 in Dell statement credits every year (up to $200 semi-annually). Enrollment required. Up to $360 in Indeed credit each year, up to $90 per quarter Up to $150 for select Adobe prepaid business subscriptions. Enrollment required. Up to $120 in wireless telephone provider credit each year (up to $10 per month). Enrollment required. Up to $189 in CLEAR® Plus membership fee credits each year Up to $200 in airline fee credits per calendar year Up to $100 Global Entry or up to $85 TSA PreCheck® application fee credit Access to 1,400+ airport lounges 35% points rebate (up to one million points per calendar year) when you use the Pay with Points feature to book business- or first-class flights or any flights with your selected airline **Cell phone insurance (Underwritten by New Hampshire Insurance Company, an AIG Company.) **Purchase protection (Underwritten by AMEX Assurance Company.) **Extended warranty (Underwritten by AMEX Assurance Company.) Marriott and Hilton Gold status Is the Amex Business Gold Card right for you? The Amex Business Gold Card is useful for small business owners who can take advantage of the card's generous bonus spending categories. This card is hard to beat for purchases such as advertising, dining and transit. However, you only receive 4X bonus points on the two categories you spend the most in each month. So in some instances, a card with fixed bonus categories could be more valuable. If you won't be spending a lot in the card's 4X bonus categories, the card's other benefits can still make it worthwhile. Even if you won't take advantage of the monthly Walmart+ credit, the up to $20 a month in statement credits for FedEx, Grubhub and office supply stores is easy to use. That credit cuts your yearly out-of-pocket cost down to a more manageable $135. Bottom line The Amex Business Gold Card is one of the most rewarding cards for business spending. Plus, it earns Amex Membership Rewards points, which are extremely flexible and surprisingly valuable. Now it has valuable statement credits that can be worth more than the annual fee, even after it increases on Feb. 1, 2024 (see rates and fees). 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 business 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. For rates and fees of the Business Gold Card® from American Express, click here. For rates and fees of The Business Platinum® Card from American Express, click here. **Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. 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/2020/11/10/ulta-beauty-strikes-deal-to-open-hundreds-of-shops-at-target-stores.html

ULTA

Ulta Beauty

Ulta Beauty strikes deal to open hundreds of shops at Target stores

Target has struck a deal with Ulta Beauty to open shops with makeup, skincare, hair products and more inside of hundreds of its stores. Target and Ulta Beauty announced a deal Tuesday to open makeup and skincare shops inside of hundreds of Target stores across the country. Target CEO Brian Cornell said starting in the second half of next year, shoppers will find a smaller version of an Ulta store in more than 100 of Target's stores and on its website. Each "shop-in-shop" will be about 1,000 square feet with more than 40 beauty brands and a rotating assortment of products from hair care and fragrances to lip gloss. Customers can shop in person or use Target's same-day services, such as curbside pickup or home delivery by Shipt, to get their online beauty purchases. Ulta will train Target employees as beauty consultants. Shares of Ulta were up about 7% to $265.49 at market close. Shares of Target were up about 2% to $158.07 at market close. Cornell and Ulta CEO Mary Dillon told CNBC they see the strategic partnership as a long-term deal that will catch customers' attention and drive higher sales. They declined to share the length or financial terms of the agreement, but said they will expand Ulta Beauty at Target to hundreds of additional stores over time. As the coronavirus pandemic shakes up the retail industry and shopping behaviors, Dillon said the retailers are "embracing a time of change to innovate and to lead." With the deal, Target will gain a unique traffic driver in a fast-growing merchandise category, while Ulta will gain visibility on store shelves and on a website that has expanded its reach during the pandemic. Both companies will gain a larger audience. Together, they have more than 100 million active loyalty program members across Target Circle and Ultamate Rewards — with more than 33 million of those coming from Ulta. Target has been able to keep its nearly 1,900 stores open throughout the global health crisis as an essential retailer, selling everything from groceries to throw pillows. The retailer's profits jumped by about 80% in the second quarter compared with the same period a year earlier. Its curbside pickup service, Drive Up, grew more than 700% during the three-month period. And the company said it attracted 10 million new digital customers and picked up $5 billion in market share in the first half of the year. As many competitors have struggled, Target has had strength — even in discretionary categories. Its beauty sales grew by more than 20% in the second quarter. Ulta, on the other hand, was hit hard by store closures. The beauty retailer's same-store sales dropped by 26.7% in the second quarter year over year but have gradually improved. Comparable sales, which is made up of sales at stores open at least 14 months and its e-commerce sales, were down 37% in early May, but recovered slightly and were down by 10% in July when most of its 1,264 stores were reopened. Beauty sales have been rocky across the industry during the pandemic. Americans have fewer social outings and are working remotely instead of dressing up for the office. About 70% of consumers scaled back their use of makeup this year, according to the NPD Group. However, some categories like skincare and hand soaps have gained popularity as shoppers focus on relaxation and self-care, the firm found. Hair product sales, for example, rose by 11% in the third quarter, as customers bought hair masks and hair color. "We are seeing two stories unfold for beauty — one of stagnation and the other of recovery," Larissa Jensen, beauty industry advisor of NPD Group, said in a report.

https://www.cnbc.com/2020/11/11/ulta-beauty-ceo-target-shops-deal-offers-paths-for-brand-growth.html

ULTA

Ulta Beauty

Ulta Beauty CEO: Target cosmetics shops deal provides 'great paths for brand growth'

Ulta Beauty CEO Mary Dillon told CNBC Wednesday that the cosmetics company hopes to leverage its loyalty plan through its partnership with Target. On Tuesday, the two unveiled a new deal to add skincare shops in select Target stores starting next year. With a combined 100 million members registered to the companies' respective loyalty programs, both see an opportunity to reach new customers. "That's the exciting opportunity," Dillon said. "It gives millions of new guests an opportunity to experience and learn about brands and we know that guests are excited about this." Through the deal, Ulta will set up stationary shops of about 1,000 square feet and market a curated selection of beauty brands, including makeup, fragrance and hair care products, among other items. Target plans to carry Ulta stores at 100 locations and dedicate space on its website. Ultamate Rewards, Ulta's loyalty program, has more than 33 million active users. As for Target, the company said it booked what it described as a long-term deal with the cosmetics supplier to attract customers and boost sales. Through the deal, Ulta will train Target staff as beauty consultants. Additionally, the company will take advantage of the department chain's same-day services, such as delivery and curbside pickup. "Think about this as two retail leaders … coming together to delight guests and to provide great paths for brand growth," Dillon said. "Think about an Ulta Beauty within Target, the look and feel of Ulta Beauty, with an elevated prestige image, where we'll have a curated selection of brands that are emerging and established prestige brands across categories like makeup, skincare, haircare and fragrance." Investors apparently think highly of the partnership. Ulta stock closed up more than 7% in Tuesday's session after the deal was announced, though it gave back some of those gains when it slipped nearly 4% the day after. Shares finished the session at $255.42, up almost 1% on the year. Target stock also rose on the news Tuesday and extend its gains on Wednesday, increasing 3% over the two trading days to settle at $159.69.

https://www.cnbc.com/2021/02/02/ulta-beauty-to-double-black-owned-brands-feature-black-women-in-ads.html

ULTA

Ulta Beauty

Ulta Beauty to double Black-owned brands in its stores, feature more Black women in ads

A growing number of major retailers has promised to step up their philanthropy and recruiting. and some, including Macy's and Gap , have signed on to the 15 Percent Pledge, which aims to make Black-owned products on store shelves proportional to the country's Black population. Over the past year, many companies have grappled with whether their business practices — including hiring, advertising and picking products to display — reinforce or fight systemic racism. George Floyd's killing and Black Lives Matter protests prompted a wave of corporate commitments to do more to address racial inequities. It also tapped Tracee Ellis Ross, actress and CEO and founder of hair-care brand Pattern Beauty, as its diversity and inclusion advisor to help counsel the company and hold it accountable. The beauty retailer pledged to double the Black-owned brands in its assortment by the end of 2021 and step up employee training to make stores more welcoming for all customers. The company will put more than $25 million toward the initiative. Ulta Beauty unveiled an initiative Tuesday to better reflect the country's diversity with the products it sells in stores and faces it features in advertising campaigns. Ulta CEO Mary Dillon said the beauty industry, in particular, "ought to be leading." She said it plays a powerful role in shaping what society sees as beautiful and desirable. Plus, she said, more than 50% of babies born in the U.S. are non-Caucasian — a dynamic that will shape the customers of tomorrow and determine which brands stay relevant. "It's not only an opportunity, but an obligation that we represent everybody to celebrate diversity — if you look at our advertising campaigns, if you look at the photography in our [hair] salon, if you look at the way we're training our salon associates to work with every hair type," she said. "Meeting the needs of everybody of any age or race or skin tone or hair type" is core to Ulta's business. Diversity and inclusion efforts have become more of a business imperative rather than a goodwill gesture as shoppers pay more attention to corporate values like sustainability and diversity and vote with their dollars. That's something that Dillon said she has seen up close as chair of the Retail Industry Leaders Association. "Consumers now are holding businesses to a higher standard, and they should," Dillon said. Ulta will put about $20 million toward media investments across multicultural platforms aimed at reaching Black and Hispanic communities, such as TV commercials that feature Black women. It will spend more than $4 million to market and fuel growth of its Black-owned brands and about $2 million on quarterly, mandatory in-store employee training to fight unconscious bias. Ulta is also trying to expand staff diversity through recruiting efforts and the creation of a Diverse Leaders Program to offer executive mentorship to more than 30 employees who show potential to become company leaders. Ulta's beauty industry peer, LVMH -owned Sephora, announced a similar plan in mid-January to make its stores more inclusive. Among the changes, it said it would double its Black-owned brands and reduce the presence of third-party security. It also signed the 15 Percent Pledge.

https://www.cnbc.com/2021/05/28/stocks-making-the-biggest-moves-in-the-premarket-amc-entertainment-ulta-beauty-salesforcecom-more.html

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Ulta Beauty

Stocks making the biggest moves in the premarket: AMC Entertainment, Ulta Beauty, Salesforce.com & more

Take a look at some of the biggest movers in the premarket: AMC Entertainment (AMC) – The movie theater operator's shares jumped another 15.4% in premarket trading, following four straight days of gains and a nearly 36% surge in Thursday's session alone. AMC – popular among the so-called "meme" stocks – has more than doubled this week. Ulta Beauty (ULTA) – Ulta Beauty reported quarterly earnings of $4.07 per share, more than twice the $1.95 a share consensus estimate. The cosmetics retailer reported better-than-expected revenue as well and Ulta raised its full-year guidance, with cosmetics sales rising as the pandemic recedes. Its stock jumped 6% in premarket action. Salesforce.com (CRM) - Salesforce shares rallied 5.2% in the premarket after it reported quarterly earnings of $1.21 per share, topping the 88 cents a share consensus estimate. The business software giant's revenue exceeded analysts' forecasts as well, helped by strength in its "Customer 360" platform. Boeing (BA) – Boeing fell 1.2% in the premarket on news that the jet maker had halted deliveries of its 787 Dreamliner. Federal regulators want more information about Boeing's proposed solutions to previously identified quality control issues. Big Lots (BIG) – The discount retailer initially gained ground but then fell 1.5% in premarket trading, despite reporting a better-than-expected quarter. Big Lots earned $2.62 per share, compared to a consensus estimate of $1.69 a share. Revenue topped estimates as well. Comparable-store sales rose 11.3%, compared to a consensus FactSet estimate of 5.7%. Hibbett Sports (HIBB) – The sporting goods retailer's shares surged 5.8% in the premarket after it reported quarterly earnings of $5.00 per share, beating the consensus estimate of $2.77. Revenue exceeded expectations as well amid an 87.3% surge in same-store sales. Hibbett also raised its full-year forecast in anticipation of benefiting from pent-up demand. Dell Technologies (DELL) – Dell earned $2.13 per share for the first quarter, topping the $1.61 consensus estimate. The computer maker's revenue beat estimates as well. Dell continues to benefit from the ongoing surge in demand for desktop PCs and notebooks, but did note the possible impact of the computer chip shortage on supplies. HP Inc. (HPQ) – HP also benefited from elevated computer demand, beating estimates by 4 cents a share with quarterly profit of 93 cents per share. Revenue topped estimates as well. HP also benefiting from better-than-expected results in its printer business. HP raised its full-year guidance, but also warned of the possible chip shortage impact, prompting a 5.6% drop in the stock in the premarket. Box (BOX) – Box beat estimates by a penny a share, with quarterly earnings of 18 cents per share. Revenue also topped Wall Street forecasts for the cloud computing company. Box also raised its full-year forecast. Costco (COST) – Costco earned $2.75 per share for its latest quarter, compared to a consensus estimate of $2.35 a share. The warehouse retailer saw revenue beat forecasts as well. Costco also warned of increasing costs for products and worker salaries. Gap (GPS) – Gap reported a quarterly profit of 48 cents per share, surprising analysts who had expected a loss of 5 cents per share. The apparel retailer's revenue also beat estimates, and the company issued an upbeat forecast amid strength in categories like activewear and dresses. Despite the upbeat results, Gap fell 1.3% in the premarket. Bristol-Myers Squibb (BMY) – The drugmaker received Food and Drug Administration approval to use its Zeposia drug to treat ulcerative colitis. The oral treatment – acquired when Bristol Myers bought Celgene for $74 billion in 2019 — is already approved to treat multiple sclerosis.

https://www.cnbc.com/2021/05/28/stocks-making-the-biggest-moves-midday-amc-ulta-beauty-best-buy-hp-and-more.html

ULTA

Ulta Beauty

Stocks making the biggest moves midday: AMC, Ulta Beauty, Best Buy, HP and more

Check out the companies making headlines in midday trading. AMC Entertainment — Shares of AMC Entertainment are in a middle of a roller-coaster session Friday as they turned 5% lower after rallying as much as 38%. By midday, over 360 million shares have already been traded, more than tripling its 30-day average. Shares have already rallied 120% this week amid heightened speculative trading activity, bringing its monstrous 2021 rally to 1,200%. HP — Shares of the hardware tech company dropped more than 8% despite HP beating expectations on the top and bottom lines for the first quarter. Management warned during an investor call that issues in the semiconductor supply chain could limit the company's ability to meet demand for some products through at least the end of the year. Big Lots (BIG) – Shares of the discount retailer dropped 6.78% despite reporting a better-than-expected quarter. Big Lots earned $2.62 per share, beating analyst estimates of $1.69 a share. Revenue of $1.63 billion also beat estimates. Comparable-store sales rose 11.3%, Salesforce — Shares of the cloud company popped more than 6% in midday trading after beating on the top and bottom lines of its quarterly earnings. Salesforce earned $1.21 per share on revenue of $5.96 billion. Analysts expected earnings of 88 cents per share on revenue of $5.89, according to Refinitiv. Salesforce also raised its full year outlook. Ulta Beauty — Shares of the beauty store chain gained 5.6% midday after reaching a new 52 week high of $351.72 Friday morning. Ulta posted blowout first-quarter financial results after the bell Thursday, reporting earnings of $4.07 per share, more than twice analysts' estimate of $1.95 per share, according to Refinitiv. The company's quarterly revenue also beat the Street's expectations and Ulta raised its full-year guidance. Gap — Gap shares fell more than 5% midday, despite posting better-than-expected first-quarter earnings. The company said it faces supply chain obstacles and difficulties in raw material sourcing due to the proliferation of Covid cases in countries including India. Gap reported earnings of 48 cents per share on revenue of $3.99 billion, compared with analysts' expectations of 5 cents loss per share on $3.45 billion in revenue, according to Refinitiv. Best Buy — Shares of the electronics company fell 2.58% in midday trading despite the strong housing market giving a boost to spending on home theaters, appliances and computing. Analysts are cautioning that as the U.S. continues its reopening plan, consumers may be spending more on dining out which could dampen technology spend. Hibbett Sports - Shares of the footwear company ticked 4% lower despite the company's stronger-than-expected quarterly results. Hibbett reported earnings of $5.00 per share, topping estimates of $2.77 per share, according to Refinitiv. Revenue came in at $507 million, higher than the $413 estimates by Wall Street. — CNBC's Hannah Miao, Maggie Fitzgerald, Jesse Pound and Yun Li contributed reporting

https://www.cnbc.com/2021/03/12/ulta-beauty-pauses-teen-vogue-ad-spending-over-anti-asian-tweets-by-new-editor.html

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Ulta Beauty

Ulta Beauty pauses Teen Vogue ad spending over anti-Asian tweets by new editor

A major advertiser at Teen Vogue, the retailer Ulta Beauty , has paused ad spending at the Conde Nast publication amid a growing outcry over anti-Asian tweets by the site's new editor in chief, Alexi McCammond. "Diversity and inclusion have always been core values at Ulta Beauty," a company spokeswoman said in a statement Thursday. "We stand against racism in all forms and as we've publicly shared in our social channels, we stand in unity with the AAPI community. We believe it's important that our partners share our values. Our discussions with Conde Nast are actively underway as we seek to better understand their next steps and determine ours." McCammond, 27, was a noted political journalist before Conde Nast announced earlier this month she'll replace Lindsay Peoples Wagner at digital-only Teen Vogue. Soon after the announcement, since-deleted tweets stretching back to 2011, when McCammond was in college, resurfaced, including several using racist and homophobic stereotypes. McCammond is Black. While Teen Vogue has stood by McCammond's appointment, detractors have spoken out on social media and McCammond has apologized. More than 20 staff members at Teen Vogue posted a statement Monday saying they've written management in support of readers and others alarmed by the tweets, noting that they come at a time of "historically high anti-Asian violence and amid the ongoing struggles of the LGBTQ community." McCammond had worked for Axios and was an on-air contributor for MSNBC. In her latest apology, posted on social media, she said: "This has been one of the hardest weeks of my life, in large part because of the intense pain I know my words and my announcement have caused so many of you. … I've apologized for my past racist and homophobic tweets and will reiterate that there's no excuse for perpetuating those awful stereotypes in any way." The tweets first surfaced in 2019, when she said she was "deeply sorry" and that the posts "do not reflect my views or who I am today." A spokeswoman for Teen Vogue did not immediately respond to an email request for comment Thursday. Ulta Beauty's ad pause was first reported by The Daily Beast. The company has had problems of its own. It has faced accusations of racial profiling of customers in stores and criticism over a lack of diversity in brands it carries. The company recently hired actor and fashion icon Tracee Ellis Ross as a diversity and inclusion adviser as it has started to implement a broader initiative on those fronts. Those steps include a promise to double the number of Black-owned brands available on their shelves and a $20 million campaign to reach out to customers of color and other underrepresented groups.

https://www.cnbc.com/2020/09/09/ulta-beauty-ceo-sees-better-than-expected-recovery-but-stays-cautious.html

ULTA

Ulta Beauty

Ulta Beauty CEO says business is better than expected, but remains cautious about second half results

Ulta Beauty CEO Mary Dillon in an appearance CNBC Wednesday said she is "pleased" about the cosmetics retailer's ongoing recovery from the economic lockdown, but the projections are still cloudly due to uncertainty. Since the brand began reopening stores in July, demand for its products has returned, she told CNBC's Jim Cramer. "It took some time for stores to ramp up, but now, you know, the last month or so we've only been down mid-single digits," she said in a "Mad Money" interview, adding that it's "a lot better than we thought it would be at this point, although we're cautious about what the second half of the year looks like." The pandemic created a slate of challenges for cosmetics companies as brick-and-mortar stores were shut earlier this year to stave off the spread of the novel coronavirus. The store closures depleted sales as people sheltered in place. Ulta locations were shut down in March and rolled out curbside pickup in certain stores a month later. The company began reopening stores in May until all locations were back in action by mid-July, though operations remained limited. About 17,000 furloughed retail workers have returned to work as of late August. Net sales fell by 26% from the year prior to $1.2 billion in the quarter that ended Aug. 1, a slight miss of analyst estimates. The company produced 14 cents of diluted earnings per share, which was down from a figure of $2.76 a year ago. After taking a pause due to the pandemic, Ulta began launching new stores again in August. The company had 30 new locations in the U.S. and Canada in the pipeline. Ulta, which has more than 1,200 stores, projects it can grow that count to 1,700. Outside in-store business, Ulta has seen positive results from its mobile app. The company has been investing in its digital strategy, but is still counting on the physical space and experiences. In the last quarter, e-commerce sales jumped more than 200%. "We launched [the Ulta app] pre-pandemic, but I'll tell you I'm really glad we've been investing in digital because this uses the combination of AR and AI to both visually see you as well as make personalized recommendations," Dillon said. The "future of retail for Ulta Beauty is the intersection of the digital and the physical, and I'd say even the emotional," she said. Shares of Ulta Beauty rose nearly 1% to $235.40 in Wednesday's session. The stock remains down 7% year to date.

https://www.cnbc.com/2021/08/27/fridays-biggest-analyst-calls-of-the-day-ulta-beauty-peloton-hp-autozone-dollar-tree.html

ULTA

Ulta Beauty

Here are Friday's biggest analyst calls of the day: Ulta Beauty, Peloton, HP and more

Here are the top Wall Street analyst calls from Friday. Wells Fargo downgrades Ulta Beauty to equal weight from overweight There is little upside left for Ulta after outperforming over the summer, according to Wells Fargo. "As a result, ULTA has meaningfully outperformed our space as the company was a fairly uncontroversial 2nd derivative play. It's not difficult to understand why, if you believe that make-up … is highly tied to going-out, socializing, and special occasions — all of which began to re-emerge in mid-April after being somewhat or entirely restricted in 2020. Today, however, we believe this narrative has pushed the multiple as high as it can (reasonably) go." Morgan Stanley downgrades HP to equal weight from overweight Near-term issues for HP could make the bull case for the stock more difficult, Morgan Stanley found. "Our prior OW-rated view and $40 PT was predicated on a smooth hand-off from consumer to commercial-driven demand, strong operational execution, and sustained growth that would help re-rate shares. However, we see several reasons to be more cautious near-term based on F2Q earnings." JPMorgan reiterates buy rating on Peloton Investors should buy the dip in Peloton , according to JPMorgan. "If you had told me yesterday that PTON would guide to 1.3M [connected fitness] net adds for FY22, I would've said the stock would be up 10%. But the composition of how PTON is getting there is different than expected as the $400 V1 Bike price cut, significant marketing ramp, & increased costs for commodities (steel & semis) & freight combine to drive EBITDA negative in FY22." Loop Capital reiterates buy rating on Peloton Investors should not be concerned by Peloton's decision to lower the price of its exercise bike, Loop Capital said. "With the benefit of hindsight, it would have been unwise to sell AAPL shares when the company lowered the price of its first-generation iPod. For the same reason, we think it unwise to impulsively sell PTON after lowering the price of the Bike." Read more about this call here . Bank of America upgrades Peloton to buy Peloton appears to have several positive catalysts in the year ahead that should boost the stock, according to Bank of America. "While uncertainties remain elevated, Peloton indicated that tread leads have been 'incredibly strong', and we trust that this enthusiasm on the launch (8/30) is not unwarranted. Importantly, Peloton guided FY22 sub net adds to 1.3mn vs Street at 1.2mn, and 6months from now we think sub adds will be more important for stock than margins." Morgan Stanley downgrades AutoZone and several other retail stocks to equal weight A "mid-cycle" period should lead to less upside for retail stocks, including auto parts retailers like AutoZone , Advance Auto Parts and O'Reilly Automotive , according to Morgan Stanley. "On the negative side, 1) the group faces difficult top line compares as it cycles favorable weather, stimulus, and 'stay at home' wallet share shifts, and 2) is no longer pricing in extreme EV fears … as multiples have recovered ~2.5 turns since March." The firm also downgraded National Vision Holdings and Five Below to equal weight. Read more about this call here . Truist upgrades Dave & Buster's to buy from hold Dave & Buster's appears to be in strong position to perform better than some of its competitors in the current environment, according to Truist. "Given accelerating sales trends at restaurants, as well as Main Event, since May, we believe PLAY's sales recovery is intact, despite the spike in COVID cases. We also view PLAY as relatively well positioned to manage cost pressures including labor, due to new operating efficiencies and previously announced hiring initiatives, and food inflation, due to its low costs as a percentage of total sales." Citi raises price target for Dell to $130 per share from $120 Citi reiterated Dell as a top pick following the tech company's earnings report. "Dell commented October sales to be up mid single digits and higher than normal -2% so consensus at -1% Q/Q goes up. But investors will have two concerns: 1) Why has Dell not yet received an IRS approval for tax free spin of VMW? 2) Why did Dell storage decline -1% while others grew? We answer this inside the report. Our estimates (and consensus would also) move higher." Telsey Advisory Group downgraded Dollar Tree to market perform from outperform Telsey cut its price target on Dollar Tree to $102 per share from $125, citing the pressure from inflation on discount retailers. "Our visibility on Dollar Tree's near-term performance is clouded, given significantly higher costs—particularly supply chain, labor, and product inflation—which are likely to continue well into 2022, especially 1H22. Dollar Tree's ability to pass on higher costs by raising prices is limited, given most items in the namesake banner (~52% of sales) are priced at $1.00." Wells Fargo upgrades Farfetch Limited to overweight from equal weight The e-commerce stock looks attractive after a deep pullback from its February high, according to Wells Fargo. "With the shares off ~45% from their February highs (vs. SPX +14%), we see a favorable risk/reward on this structural 'winner.'" Deutsche Bank reiterates buy rating on Disney, lowers price target to $200 from $213 Deutsche Bank lowered its estimates for several of Disney 's business units, but it said in a note to clients that it is still bullish on the stock long term. "We believe the stock is at a tricky point here, where the valuation is high, but at the same time [direct-to-consumer] should see renewed tailwinds and the Parks outlook should continue to recover, notwithstanding resurgent COVID cases." -CNBC's Michael Bloom contributed to this report. Inside an Ulta store in New York. Scott Mlyn | CNBC

https://www.cnbc.com/2021/09/22/cramers-lightning-round-you-can-buy-more-ulta-beauty-.html

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Ulta Beauty

Cramer's lightning round: You can buy more Ulta Beauty

Ulta Beauty: "You can buy more Ulta Beauty. We sat down with management recently. ... I like that stock very much." Laredo Petroleum : "I don't Laredo. I've got a bunch of them that I do like. I like Devon, I like Chevron, I like Pioneer, and I like Conoco. Let's go that way." AbCellera Biologics : "This is an incredibly speculative name that a lot of people have great hopes for. It's down on its luck, but you know I'm never going to say no to a [speculative bet] when it comes to biologics, which I think is the future." Gilat Satellite Networks: "That thing is so far down, why not give it a shot? I hate to be so cavalier as to that, but that company, Gilat, is too, too cheap."

https://www.cnbc.com/2021/03/11/stocks-making-the-biggest-moves-after-the-bell-ulta-beauty-funko-poshmark-more.html

ULTA

Ulta Beauty

Stocks making the biggest moves after the bell: Ulta Beauty, Funko, Poshmark & more

Check out the companies making headlines after the bell on Thursday: Ulta Beauty – The beauty retailer's stock dipped about 7% on the news that CEO Mary Dillon will be stepping down in June, with company president Dave Kimbell taking her place. Ulta beat Wall Street estimates on earnings and revenue, but net sales decreased 4.6% from the fourth quarter of 2019 partly due to pandemic lockdowns and a decrease in cosmetics sales. Ulta logged earnings per share of $3.41 on revenue of $2.20 billion. Analysts polled by Refinitiv expected earnings per share of $2.35 on revenue of $2.08 billion. DocuSign – DocuSign shares slid more than 4% despite the company reporting fourth-quarter results that topped analyst expectations. The company reported earnings per share of 37 cents on revenue of $430.9 million. Analysts surveyed by Refinitiv expected earnings per share of 22 cents on revenue of $407.6 million. Poshmark – The e-commerce company's shares fell about 13% after Poshmark revealed a weaker-than-expected sales guidance for the current quarter in the company's first quarterly results since going public. CNBC does not compare earnings per share results with estimates for a company's first report after going public. Poshmark posted revenue of $69.3 million for the fourth quarter. Analysts polled by Refinitiv expected a revenue of $68 million. Funko – Shares of the toy company climbed 9% after the company posted better-than-expected results for its fourth quarter. Funko experienced a boost in sales thanks to key products lines like "The Mandalorian", "Harry Potter" and "Marvel Comics" the company said. The toy company logged earnings per share of 29 cents on revenue of $226.5 million. Analysts surveyed by Refinitiv expected earnings per share of 14 cents on revenue of $195.7 million.

https://www.cnbc.com/id/49692475

UNP

Union Pacific Corporation

Con Ed Restores Power to 80%, but Storm Looms

Power has been restored to nearly 80 percent of utility customers in the New York City area who were blacked out by Super Storm Sandy, but a nor'easter looms that could set back efforts to return to normal. As of late Sunday, Con Edison said approximately 180,000 customers were still without electricity, out of an estimated 950,000 affected. That includes 5,000 in Manhattan, 45,000 in Queens, 22,000 in Brooklyn, 16,000 in Staten Island and 10,000 in the Bronx. Some 2.2 million homes and businesses in New York lost power in the storm, which blew ashore in New Jersey a week ago. In New Jersey, about 1 million homes and businesses remained without electricity Sunday, and many of those customers may not have service restored until Wednesday. But as the region continued its struggle back to normalcy, the National Weather Service warned that a nor'easter with gusts of up to 55 mph was likely to reach the area by Wednesday. That could compound the havoc brought by last week's violent weather. "Restoration crews love blue sky days," said John Miksad, Con Ed's senior vice president of electric operations. "When the wind gets high and the weather gets ugly ... it just slows things down." QUOTE BOX BY SECTOR:

https://www.cnbc.com/id/49588302

UNP

Union Pacific Corporation

East Coast Grinds to a Halt as Superstorm Sandy Nears

The hurricane was strengthening and the center of the storm was forecast to move over the coast of U.S. mid-Atlantic states by Monday night, the U.S. National Hurricane Center said on Monday. The NHC said on Monday the Category 1 storm had strengthened as it turned toward the coast and was moving at 20 miles per hour (32 km per hour). It was expected to bring a "life-threatening storm surge," coastal hurricane winds and heavy snow in the Appalachian Mountains. By late morning, the storm's top winds had strengthened to 90 mph. It was about 200 miles southeast of Atlantic City, N.J., where the emptied-out streets were mostly under water and where an old section of the historic boardwalk broke up and washed away. The superstorm could endanger 50 million people in the most heavily populated corridor in the nation, with forecasters warning that the New York area could get the worst of it — an 11-foot wall of water. In a news conference, Maryland Governor Martin O'Malley said, "This is going to be a long haul. The days ahead are going to be very difficult. There will be people who die and are killed in this storm." He added that the storm's impact on the state will be much more severe than previously thought just 24 hours ago. President Barack Obama declared emergencies in several states including Massachusetts, Connecticut, Rhode Island, New York, New Jersey, and Pennsylvania, authorizing federal relief work to begin well ahead of time. He promised the government would "respond big and respond fast" to states and cities after the storm hits.

https://www.cnbc.com/id/49598481

UNP

Union Pacific Corporation

East Coast Takes a Beating as Sandy Nears Landfall

Forecasters say Sandy is "moving quickly" and should make landfall by around 8pm ET Monday in southern New Jersey or Delaware. In its 7pm ET update, the National Hurricane Center downgraded the storm to a post-tropical cyclone and said it's losing strength but the storm still has sustained winds of 85 mph. The eye has almost made landfall and is headed for New Jersey and Delaware. Sandy was set to collide with a wintry storm from the west and cold air streaming down from the Arctic. The combination superstorm could menace some 50 million people in the most heavily populated corridor in the nation, from the East Coast to the Great Lakes. New York City Mayor Michael Bloomberg told residents Monday evening to "stay put" and that the time for evacuation and relocation was over. Con Edison, the power company, has also shut down power in parts of lower Manhattan to lessen damage from flooding sea waters. New Jersey's famously blunt Gov. Chris Christie also issued a warning to those who didn't evacuate as ordered. "For those who are on the barrier islands who decided it was a better idea to wait this out than to evacuate, for those elected officials who decided to ignore my admonition, this is now your responsibility," he said Monday evening. "If you're still able to hear me, we need you to hunker down and get to the highest point possible in the dwelling that you are in. We will not be able to come help you until daylight tomorrow." More than a million customers already were without power by early evening Monday and millions more could lose electricity. One disaster forecasting company predicted economic losses could ultimately reach $20 billion, only half of it insured. All U.S. stock markets were closed on Monday and will remain closed on Tuesday, according to a NYSE Euronext statement. This marks the first weather-related closure for the markets in 27 years. The company plans to re-open the markets on Wednesday "conditions permitting" and will provide further updates on Tuesday. The hurricane-force winds blew over a construction crane on top of a luxury high-rise building in Manhattan, leaving the crane dangling off the edge of the building. The incident, at a building called One57 on West 57th Street, prompted a huge emergency response. New York City officials ordered people in neighboring buildings to move to lower floors. The building is known as one of the priciest ever in New York. A six-bedroom penthouse at the building is under contract for a reported $90 million. The building recently made headlines for tax breaks from a program aimed at low-income housing. (Read more: Billionaires Get 'Low-Income' Tax Breaks in Condo Tower) The superstorm could endanger 50 million people in the most heavily populated corridor in the nation, with forecasters warning that the New York area could get the worst of it — an 11-foot wall of water. State governors warned of the acute danger from the winds and torrential rains. "There will undoubtedly be some deaths that are caused by the intensity of this storm, by the floods, by the tidal surge, by the waves. The more responsibly citizens act, the fewer people will die," Maryland Governor Martin O'Malley told reporters. He added that the storm's impact on the state will be much more severe than previously thought just 24 hours ago. President Barack Obama declared emergencies in several states including Massachusetts, Connecticut, Rhode Island, New York, New Jersey, and Pennsylvania, authorizing federal relief work to begin well ahead of time. He promised the government would "respond big and respond fast" to states and cities after the storm hits.

https://www.cnbc.com/id/49613967

UNP

Union Pacific Corporation

El-Erian: Sandy's Market Impact — From the Known to the Uncertain

As our thoughts remain with all those who have been horribly affected by the devastation that hit the U.S. Eastern seaboard and its aftermath, we are being asked about the implications of Hurricane Sandy for markets. Four observations seem warranted based on available information - and they range from the certain to the highly uncertain. First, the greatest impact is in individual sectors where we may see distinct winners and losers. Specific segments have suffered demand destruction which will be difficult to reverse in the short term. Think here of airlines, other transportation companies, and parts of the retail sector in some of the major population centers on the East Coast. Some have also incurred higher costs. Business interruption insurance will only partially offset the hit on these companies' operating earnings; and uninsured small businesses and personal sectors will be particularly badly hit.

https://www.cnbc.com/id/40418195

UNP

Union Pacific Corporation

Stocks Trim Losses Before Close; AmEx Rises

Stocks came back from session lows as financials gained, and the dollar slipped, although the market remained lower amid continuing fears about Europe's ability to harness a credit crisis despite a weekend bailout agreement for Ireland. The Dow Jones Industrial Average fell more than 25 points, rising above 11,000 after trading below the psychologically important benchmark for much of the session. The Dow finished lower last week. Hewlett-Packard, Home Depot , and Verizon were the top laggards on the Dow, while Bank of America and American Express rose. The S&P 500 and the Nasdaq also declined, but were off the lows of the session. The CBOE Volatility Index, widely considered the best gauge of fear in the market, fell below 22. Telecom, consumer discretionary and technology sectors led the S&P 500 lower, while financials and materials sectors rose. The dollar rose against a basket of currencies, although it gave up gains in afternoon trading. Oil prices rose above $85 a barrelwhile gold climbed to $1,366 an ounce. The market turned around mid-afternoon, although there was no clear catalyst for the move. One factor may have been technical: As the S&P 500 fell to 1,177, the bottom-range of its 50-day moving average, buyers came in and it began moving higher, said Kevin Kruszenski, head of listed trading at KeyBanc Capital Markets. The index was trading at 1,188 recently. Kruszenski said stocks are likely to remain range-bound, between 1,175 and 1,200 for the S&P 500, "until we either get news or something that will cause us to break out." He noted, too, that buyers tend to come in when the market slumps in hopes of realizing better performance in their portfolios before the year is out. Moreoever, though, no significant economic news is due until Wednesday, when the ADP Employment Report and ISM manufacturing index are released, and trading volume remains light, making the market "easy to push around," he said. Over the weekend, European Union finance ministers crafted a $112.2 billion aid package package for Ireland and a plan to stem fears of a euro zone debt crisis. But investors continued to worry that debt troubles in Portugal and Spain could lead to similar bailouts in the future. Those worries spilled over into the U.S. markets, countering a strong weekend of retail sales as the critical holiday shopping season got underway. "Borrowing costs have risen again for European countries and that’s a pressing issue," said Nino Jimenez, senior vice president at Brinson Patrick, a broker-dealer. Also, while increased sales and foot traffic were encouraging, shoppers were drawn to stores by heavy discounting, which could hurt earnings, Jimenez said.

https://www.cnbc.com/2020/09/08/bidens-hands-may-be-tied-on-trumps-china-tariffs-trade-experts-say-.html

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Union Pacific Corporation

Biden’s hands may be tied on Trump's China tariffs, trade experts say

U.S. President Joe Biden pictured in front of China and U.S. flags. Yuri Gripas | Reuters "Damaging," "reckless" and "disastrous" are some of the words Joe Biden has used to describe tariffs imposed by Donald Trump on allies and rivals alike. He may keep some in place anyway if he is elected president of the United States in November. Republicans largely abandoned traditional party goals such as unfettered trade and balanced budgets to embrace Trump's "America First" agenda. For Democratic-party challenger Biden, with a history of supporting free trade but also attuned to voices calling out for a different approach, the task is not so simple. Biden is backed by labor unions who want job protections and infrastructure spending, and progressives who want action on climate change, lower drug prices and human rights, while facing demands from farmers and U.S. corporations eager for tariff cuts and a less disruptive China trade relationship. The mix of conflicting interests adds up to a wait-and-see approach that could keep many of the tariffs Biden would inherit from Trump in place for years, say former and current advisers, lobbyists and trade analysts. "It's unclear how he will balance these different competing forces," said Mary Lovely, a Syracuse University economics professor and senior fellow at the Peterson Institute for International Economics. watch now The series of staggered tariffs the Trump administration imposed on $370 billion worth of Chinese goods in 2018 and 2019 have cost U.S. importers some $61.6 billion to date, according to U.S. Customs and Border Protection data and have been blamed for eroding U.S. manufacturing competitiveness. Duties on steel, aluminum, washing machines, solar panels and European Union goods added another $12.2 billion in punitive collections through Sept. 2. The U.S. trade deficit with China narrowed in 2019, but Census Bureau data on Thursday showed the nation's trade gap in July jumped to $63.6 billion, its widest in 12 years, with China accounting for nearly half of it. Trade experts say Biden's hands may be tied. "I don't see any scenario in which he can go in, in the first 6-12 months, and lift those tariffs," said Nathan Sheets, a former Obama administration Treasury undersecretary who negotiated with China on economic issues. "The current political environment - left, right and center - is going to require Biden to be tough on China," said Sheets, now chief economist with PGIM Fixed Income. From free trade to fair trade Biden has backed free trade over his three decades in Congress, during a period when increasing globalization was viewed as a path to prosperity. He supported the 1994 North American Free Trade Agreement (NAFTA) and China’s entry into the World Trade Organization in 2001. watch now As vice president, he was a vocal proponent of the Trans-Pacific Partnership, the Obama administration’s attempt to counter China’s growing influence in Asia. That support for free trade has given ammunition for Trump to attack Biden as being “soft on China” and allowing U.S. jobs to migrate to low-wage countries. Biden has struck back, saying he is not afraid to use trade barriers - but only when they make sense. “I will use tariffs when they are needed, but the difference between me and Trump is that I will have a strategy - a plan - to use those tariffs to win, not just to fake toughness,” Biden wrote in a statement to the United Steelworkers union in May. Steel and aluminum tariffs would stay until a global solution to limit excess production - largely centered in China - can be negotiated, it said. Biden's "Made in All of America" economic plan suggests the use of carbon-based tariffs to punish countries failing to meet climate goals, a move that could please progressives eager for the United States to take a stand on global warming. The plan also vows reform of the World Trade Organization, and “aggressive trade enforcement actions” against unfair practices by China and other countries, including currency manipulation, dumping of below-cost exports, and “state-owned company abuses, or unfair subsidies.” The Trump administration aimed to address Chinese dumping and state subsidies, but the Phase 1 trade deal does not. Making peace with allies on trade