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https://www.cnbc.com/2020/02/29/coronavirus-prompts-united-airlines-to-offer-pilots-a-month-for-flight-cuts.html

UNP

Union Pacific Corporation

United Airlines offers pilots a month off as coronavirus prompts flight cuts

United Airlines is offering pilots to take a month off at reduced pay, according to a union memo sent on Friday, a measure that follows flight cuts due to the spread of coronavirus. United on Friday announced service reductions throughout Asia because of the illness, known as COVID-19, which has sickened more than 83,000 people. U.S. airlines had already suspended flights to mainland China and Hong Kong. The spread of the illness has raised concerns that weak demand and new travel restrictions will prompt airlines to further cut international flights. Chicago-based United has more service to Asia than any other U.S. airline. United earlier this week pulled its full-year guidance because of the outbreak. The carrier said demand to China collapsed entirely and fell by 75% in the rest of the airline's trans-Pacific routes because of the virus. United also on Friday announced it would postpone its investor day, which was scheduled for next Thursday because it "does not believe it is practical to expect that it can have a productive conversation focused on its long-term strategy next week." United is now offering some widebody pilots a month off in April at the pay rate for 50 hours a month, lower than the roughly 80 hours pilots normally work, wrote Todd Insler, a United captain and chairman of the United branch of the Air Line Pilots Association, in a note to union members. "The reductions in block hours has resulted in lower line values and fewer flying opportunities in some fleets," Insler said in the note. "We are preparing for the possibility of further reductions to our schedules as the virus spreads."

https://www.cnbc.com/2017/10/13/new-guam-threat-as-north-korea-weighs-powerful-test-over-pacific.html

UNP

Union Pacific Corporation

New Guam threat as North Korea still weighs powerful hydrogen test over Pacific

"I do not think the North Koreans now are going to make any provocative moves probably for the next month or so," said Harry Kazianis, director of defense studies at the Center for the National Interest, a think tank founded by former President Richard Nixon. "Reason why is with President Trump putting so much pressure on Iran , the North Koreans are very smart to let the Iranians take the heat sort of in the international arena now." Some experts see both the Guam and atmospheric hydrogen bomb test threats as bluster. "If North Korea puts a nuclear warhead on the tip of a missile and explodes it over the Pacific, that would be the most provocative action North Korea could take short of starting a war," said Kelsey Davenport, director for nonproliferation policy at the Arms Control Association, a nonpartisan disarmament group based in Washington. Then, last month North Korea's foreign minister told reporters the regime's leader, Kim Jong Un , was considering "the most powerful detonation of an H-bomb" in the Pacific. It followed Trump's first address to the United Nations general assembly Sept. 19 in which he said the U.S. and its allies were prepared to "totally destroy" North Korea. In August, the North's state-run KCNA news agency said the regime was "seriously examining ... an enveloping strike at Guam." The same propaganda outlet renewed the threat Friday against Guam, home to U.S. military bases with an estimated 6,000 troops. The new Guam threat comes ahead of planned U.S.-South Korean joint maritime exercises scheduled to start next week in the Asia-Pacific region. A Navy statement issued Thursday indicated exercises will include the aircraft carrier USS Ronald Reagan and at least two destroyer vessels. Once again, North Korea on Friday raised the threat to launch a ballistic missile toward the U.S. Pacific territory of Guam. It still hasn't followed through on another threat: to conduct an atmospheric hydrogen bomb test. Kazianis added, "They would be very foolish to do anything on Guam or anything else. They might make threats. But I don't think they'll do any missile or nuclear tests in the short to immediate future." For its part, the Pentagon remains steadfast in its commitment to handle any threats against Guam. "U.S. Pacific Command forces always maintain a high state of readiness and have capabilities to counter any threat to Guam, to include those from North Korea," Pentagon spokesman Lt. Col. Christopher Logan told CNBC in an email statement Friday. Meantime, if the North Korean leader does go ahead with the hydrogen bomb test above the Pacific some experts believe it would spur President Donald Trump to push for regime change in Pyongyang. The U.S. conducted nuclear weapon testing in the Pacific from 1946 until 1962. The last such test, a 1.45 megaton weapon at high altitude some 900 miles from Honolulu, was dubbed Starfish Prime and roughly 70 times more powerful than the bomb dropped on Hiroshima. The 1962 blast produced a light flash seen throughout Hawaii, damaged power lines and generated enough intensity to trigger burglar alarms. Still, the most powerful nuclear weapon test conducted by the U.S. was at Bikini Atoll in the Marshall Islands in 1954 and code-named Castle Bravo. Its yield was estimated at 15 megatons, about 1,000 times larger than the 1945 Hiroshima bomb. Radioactive fallout from the 1954 test spread over 11,000 square kilometers, or nearly 4,300 square miles, according to Davenport. She said it's unlikely North Korea would test a weapon with the scale of the Castle Bravo explosion, which had the force of 15 million tons of TNT. In September, North Korea conducted its sixth underground nuclear test, which produced a magnitude 6.1 earthquake. Initial yield estimates of about 150 kilotons were later revised upward to 250 kilotons (or 250,000 tons of TNT). "It's been decades since the last explosion in the atmosphere," said Davenport. "There's a reason why there was a push to ban explosions in the atmosphere before the push to completely eliminate nuclear testing took off," said Davenport. "And that's because the effects are so much more dangerous than underground testing." The Partial Test Ban Treaty signed in 1963 between the U.S., Soviet Union and Britain prohibited nuclear tests in the atmosphere, underwater and outer space. More than 100 countries joined the treaty as signatories but not North Korea nor its key ally China. Experts point out that radioactive fallout from a North Korean atmospheric nuclear blast would depend on the size of the detonated device, the location where it explodes, wind patterns and a number of other environmental factors. Regardless, there's the potential for radioactive particles to be carried long distances in the air that could reach the U.S. West Coast. "If radioactive particles became entrained in the jet stream winds, they could be transported toward the east quite quickly — the strongest winds in a jet stream can be over 200 miles per hour," said Peter Jackson, an environmental science professor at the University of Northern British Columbia. Jackson also explained that material from the nuclear blast could linger in the stratosphere for a long time similar to particle-size distributions from major volcano eruptions. Indeed, particles from significant volcanic events have been observed in the stratosphere for several years following eruptions. "The fallout for a detonation in the atmosphere, or even on land, can move across the Pacific in a few days to a week," said Ken Buesseler, marine radiochemist with the Woods Hole Oceanographic Institute in Massachusetts. In the case of Japan's Fukushima Daiichi nuclear power facility disaster in 2011, Buesseler said it took "less than a week" for winds to blow the radioactivity to California. "You could detect that in San Francisco and other West Coast monitoring stations," he said. To be clear, even Fukushima-related radiation detected in the Western U.S. was not deemed to be at levels posing a health risk. Similarly, if North Korea goes ahead with the atmospheric test in the Pacific there likely will be radioactive particles detected from California to states in other regions. "If they set something off as an airburst in the middle of the Pacific, we can detect it here in New York and probably in Europe," said Andrew Karam, a radiation safety expert consultant who has advised corporations and government agencies. "But that doesn't mean that it's dangerous." Either way, it's unclear if North Korea would provide advance notice of any nuclear test in the atmosphere to reduce the danger to aircraft and ships. The communist state failed to alert the world before it launched a Hwasong-14 intercontinental ballistic missile on July 28 that splashed down in the Sea of Japan. The missile test reportedly had a close call with an Air France passenger jet that had just passed the splashdown location. Previous ballistic missile tests by the regime didn't use active nuclear bombs. So the threat to use such a weapon for a test over the Pacific raises the stakes and the possibility of a nightmare scenario if something goes wrong. For example, the nuclear-armed missile fired from North Korea could veer off course into a neighboring country and cause the unthinkable: detonation in a populated area. "The risks are astronomical," said Kazianis. "We don't know for certain the amount of safety measures that they've worked into these weapons. If you talk about the United States or Russia, there are safeguards. So you might have an accidental war start by the North Koreans actually trying to test one of these things."

https://www.cnbc.com/2017/10/27/cramers-lightning-round-hold-out-for-gains-in-csx-corporation.html

UNP

Union Pacific Corporation

Cramer's lightning round: Hold out for gains in CSX Corporation

It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on callers' favorite stocks at rapid speed: CSX Corporation : "You're going to hold it. You're going to hold it because I think that [CEO] Hunter Harrison is doing a good job, but more important, I like the rails. Union Pacific is my favorite, though." J.M. Smucker Co. : "I've been against that. I mean, it's a nice company, they're very well-run, but it's in the wrong sector and they're not doing the job. [On] J.M. Smucker, I am still saying don't buy." EQT Corporation : "They got approval. It looks like one of the proxy firms said yes to the deal. I want you to sell the stock. It's up on a spike, and let's just take some profits." Baozun Inc. : "I like it. We had them on. I thought they told a very compelling story. I think it's a great long-term hold." JetBlue Airways Corporation : "You want to buy Southwest Air. It's down and it shouldn't be down this much. It's an ActionAlertsPlus club name. The stock got pulverized. We sold some at $59. It's back to $54. Pull the trigger on that one." Novartis AG : "We're going to stay away. We're not recommending a lot of pharma here. We think it's in the crosshairs of the government. We also think, by the way, that the slowing growth of the drug companies is the exact opposite of the industrials."

https://www.cnbc.com/2015/07/10/clinton-to-face-grilling-by-union-leaders-on-trade-economic-issues.html

UNP

Union Pacific Corporation

Clinton to face grilling by union leaders on trade, economic issues

U.S. Democratic presidential candidate Hillary Clinton will meet privately this month with leaders of the nation's largest labor federation as she seeks to prevent a revolt by union members infuriated by her cautious stance on a looming trade deal, labor sources told Reuters. Leaders with the AFL-CIO, an umbrella group for 56 member unions representing more than 12.5 million workers, will press her on issues such as trade, infrastructure and the types of officials she would name to the Federal Reserve's Board of Governors. During its gathering in Silver Spring, Maryland, on July 29-30, the AFL-CIO's executive council will also have separate meetings with Clinton rivals former Maryland Governor Martin O'Malley and U.S. Senator Bernie Sanders, whose presidential candidacy has been gaining steam among labor union activists. Aides to O'Malley and Sanders confirmed they would attend the meeting. Clinton's campaign declined to comment on her attendance but other sources said she is expected. Trade will likely be the No. 1 issue at the two-day gathering of the federation, which represents workers in a wide range of professions, from brick layers to machinists to nurses. Labor sources said the council will press Clinton to oppose the Pacific Rim trade deal the Obama administration is finalizing. The issue is a difficult one for Clinton, who was secretary of state in President Barack Obama's first term and an influential player in the administration's effort to build stronger ties with Asia. Obama administration officials view the Trans-Pacific Partnership as a crucial part of its "pivot" to Asia. While Sanders strongly opposes the TPP, Clinton has stopped short of repudiating it. She has called for strong worker protections in any deal but said she would not take a position until she sees the final details.

https://www.cnbc.com/2018/03/13/united-apologizes-for-dog-that-died-after-being-put-in-overhead-bin.html

UAL

United Airlines Holdings

United Airlines apologizes for dog that died after being put in overhead bin

"This was a tragic accident that should never have occurred, as pets should never be placed in the overhead bin," United spokesman Charlie Hobart said. Maggie Gremminger identified herself as a fellow passenger on United flight 1284 from Houston to New York's LaGuardia Airport on Monday night and wrote in a Facebook post that she witnessed a flight attendant instruct the traveler flying with the dog to stow the carrier, with the dog inside, in an overhead bin. United Airlines apologized Tuesday for the death of a passenger's dog after it was stored in an overhead bin. The passenger was asked to move the bag because it was sticking out into the aisle, according to a person familiar with the incident. The owner of the French bulldog puppy told the flight attendant that the animal was in the bag, but the flight attendant insisted that the bag be put in the overhead bin, according to Gremminger. "By the end of the flight, the dog was dead," Gremminger wrote on Facebook. "The woman, crying in the airplane aisle on the floor." Gremminger, who did not immediately return a request to comment, posted that she heard the dog barking and "we didn't know it was a barking cry for help." United has reached out to passengers who were on the flight for more information about the incident. "We assume full responsibility for this tragedy and express our deepest condolences to the family and are committed to supporting them," said the airline's statement. "We are thoroughly investigating what occurred to prevent this from ever happening again." The airline is paying for a necropsy of the small dog and is refunding the tickets. United has faced public outcry after other animals have died on its planes. The airline said it transported 138,178 animals in 2017, more than any other airline, according to the Department of Transportation. The airline reported to the Department of Transportation the highest number of animal deaths of any U.S. carrier: 18, a rate of 2.24 per 10,000 transported animals. American and Delta each reported that two animals died on their planes last year. Those figures refer to animals that were transported in the cargo hold, not the cabin. United spokesman Hobart said many of the animal deaths were due to animals' preexisting conditions. Last August, a King Charles spaniel named Lulu on a Houston to San Francisco flight died in the cargo hold after a long tarmac delay. In April, giant rabbit Simon was found dead after a United flight from London to Chicago. That incident occurred a few months after passenger David Dao was violently dragged off a flight to make room for commuting crew members. United apologized for that incident after an outcry from consumers. After the passenger dragging, United launched computer-based customer service training. Starting this year, the airline introduced a new curriculum for front-line employees like flight attendants that teaches safety, efficiency and compassion.

https://www.cnbc.com/2018/03/06/can-you-teach-compassion-in-four-hours-united-airlines-is-giving-it-a-go.html

UAL

United Airlines Holdings

United Airlines is sending employees to compassion training

Passengers at a United Airlines counter at O'hare International Airport in Chicago. Patrick Gorski | NurPhoto | Getty Images United Airlines is training its employees in compassion. The airline recently rolled out a new program called "core4." Thousands of employees will go through an ambitious four-hour training session that aims to teach workers to be efficient (think on-time departures), ensure operations are safe and do it all with a smile. Airlines face near-instant backlash from consumers as on-board incidents go viral thanks to ubiquitous smartphones. United was embroiled in a public relations disaster last year when passenger David Dao was violently dragged off a flight to make room for a commuting crew member. Its handling of the incident, including a botched apology, drew further ire on social media. As it is trying to improve its image and how employees treat customers, United is also trying to remain as efficient as possible to convince skeptical investors that it can grow its operations and expand profit margins. Roughly 30,000 customer-facing employees such as flight attendants will be required to take the course. Core4 draws its name from the four characteristics: caring, safe, dependable and efficient. Should a United employee hold up a plane so an elderly passenger can make a tight connection? How many miles should an inconvenienced passenger receive? There are no easy answers to questions like these, but employees often have to decide on the spot when situations arise. United and other airlines such as Delta Air Lines have expanded programs that give their employees more power, such as directly compensating a passenger when things out of the company's control go awry. Delta, for example, gives employees handheld devices to rebook passengers, change seats and make other changes on the spot. Unlike safety standards, which are more rigid, customer service is a gray area, because it often entails making good judgment calls on the fly, decisions that depend on the passenger in question and myriad other factors. In the wake of the Dao incident, United employees took computer-based training that quizzed staff on how they would handle certain customer-service problems such as spilling a drink on a passenger, according to an employee. Core4 goes further. United employees will participate in role-playing exercises in groups to try to solve customer service issues, afterward discussing the rationale for why they handled a scenario in a certain way. The caring unit includes good listening skills and even body language, according to a company document on the program. Employees should show that they are approachable with "open body language," "smiling," "making eye contact," "speaking with a positive tone" and "being mindful and compassionate." "Core4 puts a value on emotional intelligence," said Sara Nelson, president of the Association of Flight Attendants, which represents United's flight attendants. Room for improvement United executives have touted some recent performance improvements. Nearly 85 percent of United flights were on time in December, the best score among U.S. carriers, according to Department of Transportation data. For the year, the airline came in fourth, up a spot from 2016. But the airline's executives have a loftier goal in creating better customer service, which is harder to measure and train for compared with safety and operational procedures. United scored below Alaska Airlines , American and Delta in the J.D. Power airline satisfaction survey published last May. The Department of Transportation received 2,030 complaints about United last year, down from 2,277 in 2016, according to DOT data. The core4 program hasn't been without its hiccups. Last week, United's president, Scott Kirby, unveiled a new employee bonus program tied to "core4" metrics. The core4 goals weren't the problem. The issue was that the company planned to ditch its quarterly bonus program and replace it with a lottery system, making it more difficult to be rewarded. The backlash from employees prompted Kirby to put that program on hold until speaking with more employees about it. Starting early

https://www.cnbc.com/2018/01/24/airline-shares-are-dropping-after-united-forecast-raises-price-war-concerns.html

UAL

United Airlines Holdings

Airline shares are plunging after United forecast raises price-war concerns

A United Airlines airplane passes the skyline of lower Manhattan and One World Trade Center as it heads to a runway at Newark Liberty Airport on January 20, 2018 in Newark, New Jersey. Airline stocks fell Wednesday after United Continental's growth plans raised concern it could drive down fares. Shares of United pulled back 11.4 percent, the biggest decliner in the S&P 500. American Airlines declined 6 percent, while Delta Air Lines fell 5.2 percent and Southwest Airlines dropped 4.7 percent. United said it expects to increase annual capacity by 4 percent to 6 percent through 2020. This move could squeeze United's profit margins because it could lead other airlines down a similar path, forcing a drop in fares. "We definitely understand management's decision to focus on improving their domestic network as the company admittedly shrunk too much post the Continental merger, but that was almost a decade ago and investors are likely to be somewhat frustrated by the company's aggressive growth rate," Cowen analyst Helane Becker said in a note Wednesday. "The stock is unlikely to reflect the company's potential in the near-term as we anticipate competitive actions and investor concerns regarding overcapacity," Becker said. United also said it expected full-year earnings per share to range $6.50 to $8.50. Analysts polled by StreetAccount expected guidance of $6.99 per share. —CNBC's Leslie Josephs contributed to this report.

https://www.cnbc.com/2017/04/11/united-airlines-passenger-dragged-off-flight-video-overbooking.html

UAL

United Airlines Holdings

Here's the reason United Airlines can kick you off your flight

watch now United Airlines is scrambling to respond to intense and far-reaching scrutiny after the airline bumped an unwilling passenger, whom authorities forcibly dragged down the aisle, off the flight on Sunday evening. The incident was recorded by several passengers onboard the internal flight and, as a result, the debacle has sparked a social media backlash which left many wondering: How could this have happened? Airlines overbooking flights is a relatively standard practice and passengers, whether they realize this or not, agree to the policy when purchasing flight tickets. Carriers vary in their processes though generally, an airline will overbook in order to offset the perceived likelihood of no-shows. Federal rules dictate a carrier must first check whether anyone is willing to voluntarily give up their seat before then bumping flyers involuntarily if nobody comes forward. Idea is to 'tactfully and sensitively' deny boarding United CEO Oscar Munoz claimed the airline company "followed established procedures" when aviation police removed a "disruptive and belligerent" passenger from the plane. The airline, owned by United Continental Holdings , said in a statement that the flight had been overbooked. "Overbooking is a necessity for airlines due to different levels of no show passengers experienced on different routes. It's normally a highly sophisticated process based on extensive detailed statistical analysis," John Strickland, an aviation expert and director at JLS Consulting, told CNBC in an email. "Even when passengers are forcibly denied boarding the idea is to handle this as tactfully & sensitively as possible," Strickland added. In the case of the United Express flight 3411 from Chicago to Louisville on Sunday, four crew members were required to board the plane in order to work from Louisville the following day. While it is customary for airlines to negotiate the number of passengers on board a flight, analysts suggested it was unusual such protocol took place after everyone had boarded the plane. Audra Bridges, a witness who posted the video to her Facebook page Sunday evening, said United management came on board the flight and used a computer to randomly select four passengers who would then be removed from that trip. The man in the video — one of those four randomly selected — reportedly claimed he was a doctor and needed to see his patients at the hospital in the morning, then proceeded to say he would call his lawyers. Involuntary bumping Gary Hershorn | Getty Images

https://www.cnbc.com/2017/10/24/united-airlines-latest-perk-boarding-passes-on-other-airlines.html

UAL

United Airlines Holdings

United Airlines' latest perk: Boarding passes on other airlines

United Airlines doesn't offer a nonstop flight between Baton Rouge and Istanbul. It's a nearly 23-hour trip involving two other airlines. In an effort to dull some of the pain, and perhaps a sprint around an unfamiliar airport, United is now giving passengers access to their boarding passes on connecting legs provided by other airlines. Travelers using United's app can download all of their boarding passes on itineraries that include both United and one of its 19 partner carriers, such as Lufthansa or Turkish Airlines, the carrier said Tuesday. It added that it's the first U.S. carrier to offer the feature. The move makes the humble boarding pass the latest battleground for airlines. Earlier this month, Delta Air Lines said travelers with its app can check in automatically for flights. There are a few catches, however. United travelers won't be able to use the feature if the first leg of their trip isn't on a United flight, a spokeswoman told CNBC. That means it can't be used on some U.S.-bound itineraries. Also, travelers who separately book a ticket in United's basic economy, a new class of service that prohibits passengers' access to overhead bins and seat assignments in exchange for a lower fare, are not able to combine tickets with other airlines, so they can't access the feature, the spokeswoman added.

https://www.cnbc.com/2016/11/16/united-airlines-ceo-oscar-munoz-celebrates-warren-buffetts-investment-in-his-airline.html

UAL

United Airlines Holdings

United Airlines CEO celebrates Warren Buffett’s investment in his airline

On Monday, well-known investor Warren Buffett recently revealed he has purchased stock in airlines, a move that United Airlines CEO Oscar Munoz likened to a "Good Housekeeping seal of approval" for the industry and his company. "It also provides what I call an anchor tenant in this industry and our stock," he said during a Tuesday interview on CNBC's "Closing Bell." Buffett revealed that he has purchased a stake in the four major airline companies — American Airlines , United Continental Holdings, Delta Air Lines and Southwest Airlines . It is a reversal of a long-held stance for Buffett after an investment in US Airways in 1989 turned out to be a headache for the Berkshire Hathaway CEO. News of Buffett's investment sent airline stocks sharply higher. The S&P airlines industry is up 4.9 percent week to date, while United Continental has risen 9.6 percent. Regarding the impending Donald Trump presidency, Munoz said he is wait-and-see mode. "We are very focused on running a great airline, but at the same time, we will obviously be monitoring and closely watching what this new administration might or might not do," he said.

https://www.cnbc.com/2017/05/02/us-lawmakers-to-grill-united-airlines-on-passenger-removal.html

UAL

United Airlines Holdings

US lawmakers to grill United Airlines on passenger removal

United Airlines executives will visit Capitol Hill on Tuesday to face lawmakers' questions about the forcible removal of a passenger on an overbooked flight last month, an incident that provoked international outrage. United Chief Executive Oscar Munoz's appearance before the U.S. House Transportation and Infrastructure Committee will test how the Republican-led Congress addresses company misconduct at a time of sweeping deregulation in Washington. Republicans largely back President Donald Trump's push to undo industry rules and regulations they say hamper business growth. Joining Munoz at the hearing will be United President Scott Kirby as well as executives from American Airlines , Southwest Airlines , Alaska Airlines and a consumers' union consultant. The executives will be grilled on the growing consumer anger directed at airlines, which came to a head when Dr. David Dao was dragged from a United flight at a Chicago airport on April 9 to make room for crew members on the aircraft. It is the chance to learn "what is being done to improve service for the flying public," Committee Chairman Bill Shuster, a Republican, said in a statement. Representative Rick Larsen, the top Democrat on the House panel's aviation subcommittee, told Reuters he expected it to be "very pointed" and that executives should anticipate "pretty rough" questions.

https://www.cnbc.com/2017/04/11/chinese-social-media-continues-to-rage-at-united-and-the-airline-may-face-real-fallout.html

UAL

United Airlines Holdings

Chinese social media continues to rage at United, and the airline may face real fallout

Chinese social media has exploded with outrage after a video went viral showing a passenger who appeared to be of Asian ethnicity being dragged off an overbooked United Airlines flight with a bloodied nose. The topic, #UnitedAirlinesforcespassengeroffplane, has held strong as a top trending topic over the last two days on Weibo, China's answer to Twitter. "The boycott starts with me," posted one online user, BJ Shizilu, along with a photo of his shredded Mileage Plus card. Another said, "Whether the passenger is Asian or not, this is abominable," according to a post by Koukou Liang. Another Weibo user said, "No need to apologize or explain...please sue United Airlines till it collapses. Boycott fully." In a post on his verified Weibo account that generated some 50,000 likes in over three hours, Chinese American comedian Joe Wong said the passenger who reportedly said he was selected for being Chinese deserves a "thumbs up" as many Chinese who feel discriminated against don't say it out loud so as not to lose face.

https://www.cnbc.com/2017/04/21/time-to-buy-airlines-5-ways-to-trade-it.html

UAL

United Airlines Holdings

Traders can't agree if it's time to buy airline stocks as United stumbles

The "Fast Money" traders check-in on the airline sector after United Continental's board of directors said CEO Oscar Munoz will not be adding chairman to his title in 2018, as previously planned. The announcement comes nearly two weeks after United Airlines passenger Dr.David Dao was dragged off an overbooked flight, and the video of the incident sparked an uproar on social media. Trader Steve Grasso said he is staying out of airline stocks entirely, but mentions Spirit and JetBlue as the best names to buy. Tim Seymour said he "is not scared" of United's stock, in spite of the company's long dragging passenger fiasco. He said the company is running an efficient business, by the numbers, and United recently released posted positive earnings. Seymour also said he likes American Airlines in the space. Trader Brian Kelly mostly agreed with the chorus of traders, saying the decision with Munoz is not an event on which to buy or sell. Kelly said he favored Delta among the airlines because the stock has a "nice risk reward." Disclosures: Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT;Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM Karen is long AAL, BAC, BAC short calls, C, DAL, EEM, EPI, EWW, DVYE, FB, FL, GLMP, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, MA, SEDG, SPY puts, TACO, WFM. Her firm is long ANTM, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, PLCE, SPY puts, WIFI, her firm is short IWM, MDY. BK is long Bitcoin, GE, GDX, HLF, TLT, TSLA, WMT. Steve Grasso's firm is long stock AON, BX, CUBA, DIA, F, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SNAP, SPY, SQBG, TITXF, UA, WDR, WPX, ZNGA. Grasso is long stock BABA, CHK, EEM, EVGN, GDX, KBH, MJNA, MON, OLN, PFE, PHM, T, TWTR, VRX. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. NO SHORTS.

https://www.cnbc.com/2017/04/27/united-airlines-accounted-for-a-third-of-animal-deaths-on-u-s-flights-in-last-5-years.html

UAL

United Airlines Holdings

United Airlines accounted for a third of animal deaths on U.S. flights in last 5 years

The death of a giant rabbit on a United Airlines flight from London to Chicago focused the spotlight again on the carrier that has struggled with more than one-third of U.S. animal deaths aboard passenger flights during the last five years. United had 53 animals die on its flights from January 2012 through February 2017, the most recent month available, according to the Transportation Department's Air Travel Consumer Report. That compared with a total of 136 animals that died on all flights of airlines. In a statement, United said it was saddened by news of the death of Simon, a 3-foot Continental Giant rabbit, on the flight to Chicago's O'Hare International Airport. More from USA Today: Scientists found a no-frills way to build on Mars How Trump's tax plan would affect households How I became a rocket scientist and Girl Scouts CEO: Sylvia Acevedo "The safety and well-being of all the animals that travel with us is of the utmost importance to United Airlines and our PetSafe team," United said in the statement. "We have been in contact with our customer and have offered assistance. We are reviewing this matter." The rabbit's breeder, Annette Edwards, said the animal had an exam three hours before the flight and was fit as a fiddle. The rabbit incident came after United was under scrutiny for dragging a passenger off a flight April 9 at O'Hare to make way for a crew member. The airline was also criticized for preventing two girls from boarding a flight from Denver to Minneapolis while wearing leggings considered inappropriate for using guess passes given to employees and their relatives. Onboard animal deaths don't necessarily mean an airline was negligent, as revealed in summaries of department investigations. Among the four deaths on United flights in January, a Jan. 28 incident involving Hope, a 9-year-old cat, was suspected as heart failure, according to the department. Rocco, a dog, died on a flight Jan. 21 from a cardiac abnormality due to congenital heart disease, according to the medical exam. Two geckos were found dead upon arriving at Raleigh-Durham airport on Jan. 12, but no medical exam was performed. The department requires passenger airlines to report any deaths, injuries or lost animals from flights with at least 60 seats.

https://www.cnbc.com/2018/06/27/amazon-is-recruiting-entrepreneurs-to-start-delivery-networks.html

UPS

United Parcel Service

Amazon reveals a new plan to deliver more packages: Recruit people to run small-scale delivery services

"This is all about scaling cost effectively,” said Dave Clark, senior vice president of Amazon Worldwide Operations. He said the new delivery program will help meet the growth in e-commerce. “We are going to have to meet this growth, and it's outpacing the growth of our core providers.” Each delivery unit will start their day at one of 75 current Amazon stations in the U.S. where parcels ordered from Amazon.com are picked up by drivers wearing blue-collared shirts with an Amazon logo and black hats. Algorithms will determine which packages are sent to these delivery stations, and which are sent to other delivery partners, like FedEx and UPS. The e-commerce behemoth announced on Thursday its new Delivery Service Partners program — designed to let entrepreneurs run their own local delivery networks of up to 40 vans emblazoned with Prime logos. Watch out FedEx , UPS , DHL and the U.S. Postal Service: Amazon is building its own last-mile delivery service. This year, more than 40 percent of all e-commerce purchases will be made on Amazon, according to an eMarketer estimate. Clark said Amazon has “great relationships” with its external delivery partners. “We use everything in order to meet our scale and meet our needs. I don’t see that changing in the future,” he said. In its latest annual 10-K filing, Amazon noted the risk associated with relying on external partners like FedEx and UPS. “If we are unable to negotiate acceptable terms with these companies or they experience performance problems or other difficulties, it could negatively impact our operating results and customer experience.” In the filing, Amazon said shipping costs — including sorting, delivery center and transportation expenses — ballooned from $11.5 billion in 2015 to $21.7 billion in 2017, and its shipping costs are expected to continue to increase. The new program brings more of the costs and customer service under its control, while letting entrepreneurs run the operations under the behemoth’s name. The e-commerce giant said the program will enable “hundreds” of small businesses to get started, and it will ultimately hire “tens of thousands” of new delivery drivers across the country. This comes at a time when there is a trucker shortage in the U.S., adding to rising transportation costs for many businesses. Amazon isn't providing an estimate for how many or how long it will take to get more delivery stations built in order to get packages to these new 10s of thousands of delivery drivers. Each Delivery Service Partner can start a business with as little as a $10,000 investment. The partner is vetted by Amazon, and once accepted, will lease Prime-branded vehicles from Amazon, but the entrepreneur will be in charge of recruiting and hiring drivers. Amazon will offer discounts for costs incurred to run the business on expenses like fuel, insurance and benefit programs. The company says the program is set up so successful delivery partners can make up to $300,000 in annual profit. Olaoluwa Abimbola has been running his delivery service business in the Denver area as part of the beta test for the last five months. While his background is in computer science and not logistics, he says he’s “loving” his new business and has already hired more than 40 employees who work “fairly regular hours” and “are encouraged to take breaks.” This new last-mile delivery program is in addition to Amazon Flex, a delivery program in more than 50 U.S. cities that operates more like Uber or Lyft, with “gig workers” delivering parcels from their own vehicles for $18 to $25 an hour. Amazon’s Delivery Service Partners is just another part of the company’s own logistics network. It already has 7,000 of its own trucks and 40 airplanes which, along with external delivery partners, shipped more than 5 billion Prime items last year. While Amazon won’t disclose the financials behind the new program, Clark says it’s “much more about customer experience and meeting overall growth. We think this is going to be a cost effective way to do that.” Shares of FedEx were down more than 2 percent Thursday afternoon, while UPS' stock lost about 2.5 percent on the news. “UPS closely monitors customer and competitor announcements, but we do not speculate on the likelihood of their success, nor potential impact on UPS’s business," a UPS spokesperson said in a statement to CNBC. "UPS is confident in its strategies and believes there is tremendous opportunity in the B2C market and more growth coming, regardless of how other companies may shift their use of UPS services." "The Postal Service needs to earn its customers’ business every day by providing great service at a competitive price, and we continue to attract e-commerce customers and business partners because our customers see the value of our predictable service, enhanced visibility, and affordable pricing," a spokesperson for the U.S. Postal Service said. FedEx didn't immediately respond to CNBC's request for comment. Still, one analyst said the new pursuit by Amazon could actually be "a move that is likely welcomed by FedEx and UPS to some extent given the margin impact to the business." "Last mile delivery is expensive and is the lowest margin business for FedEx and UPS," Cowen & Co. analyst John Blackledge said in a note to clients. "UPS is more exposed to last mile for Amazon, but ... new facilities coming online will help to partially tackle last mile delivery and improve the margin trajectory of that business line. FedEx['s] bread and butter remains B2B capabilities, a segment that Amazon has yet to express much interest in getting involved in." — CNBC's Morgan Brennan and Lauren Thomas contributed to this reporting.

https://www.cnbc.com/2018/04/12/trump-issues-executive-order-to-reform-usps.html

UPS

United Parcel Service

Trump orders an evaluation of the Postal Service following his criticism of Amazon

President Donald Trump on Thursday issued an executive order to set up a task force to study the United States Postal Service and recommend reforms. That development may represent an escalation in Trump's attacks on Amazon for its dealings with the service, analysts said. The White House did not immediately respond to a request for comment sent outside regular office hours. The task force will evaluate the operations and finances of the USPS, the order said. That includes examining the postal service's role in competitive markets, the state of its business model, workforce, operations, costs and pricing. The task force was ordered to look at the decline in mail volume and how that affects the USPS' self-financing and the agency's monopoly over letter delivery and mailboxes. "The USPS is on an unsustainable financial path and must be restructured to prevent a taxpayer-funded bailout," Trump said in the executive order. The USPS has incurred "$65 billion of cumulative losses since the 2007-2009 recession," the document said. It added that the agency had been unable to make payments for its retiree health benefit obligations that "totaled more than $38 billion" at the end of fiscal 2017. "It shall be the policy of my Administration that the United States postal system operate under a sustainable business model to provide necessary mail services to citizens and businesses, and to compete fairly in commercial markets," Trump wrote. The task force would submit a report on its findings and recommendations to Trump within 120 days since the issuing of the executive order.

https://www.cnbc.com/2023/04/05/fedex-to-consolidate-operating-divisions-into-one-organization.html

UPS

United Parcel Service

FedEx to combine delivery units as part of a $4 billion cost-cutting push

FedEx said on Wednesday it will consolidate its separate delivery companies into a single entity, as the group slims its bloated infrastructure to compete better with United Parcel Service and Amazon . The move to integrate FedEx Ground, its outsourced package delivery arm, with the FedEx Express overnight air delivery business was announced almost a year after activist investor D.E. Shaw pushed for change and won two additional board seats. The deflating e-commerce delivery bubble and specter of potential recession over the past year has intensified pressure on Chief Executive Officer Raj Subramaniam to streamline operations. "We believe now is the right time to reorganize how we work together," Subramaniam told a company meeting in New York City. "We will be leaner, more agile and better positioned to execute on our mission to help customers compete and win with the world's smartest logistics network." The combined delivery business is expected to handle all deliveries from June 2024 as part of the wider plan by the Memphis-based group's plan to cut $4 billion in permanent costs by the end of its 2025 financial year.

https://www.cnbc.com/2023/03/27/barclays-highlights-10-top-quality-stocks-that-are-also-cheap.html

UPS

United Parcel Service

Barclays highlights 10 top quality stocks that are also cheap

As the likelihood of a hard landing this year rises, Barclays says investors should seek quality stocks that are not overly expensive. Large-cap tech stocks have been outperforming the market in 2023, with the S & P 500's tech sector up more than 16%. However, Venu Krishna, Barclays' head of U.S. equity strategy, warned against following this trend, citing elevated valuations, as well as inflation and interest rate risks. "Rather than chasing yet another crowded trade that is vulnerable to the next unwind, we recommend seeking safe haven among quality stocks at less demanding valuations," Krishna wrote in a report on Monday. With the growing market uncertainty in mind, Barclays recommended a basket of quality stocks trading at lower valuations as a way to position for the growing risk of an economic downturn this year. Take a look at some of the names below: Health-care giant Johnson & Johnson made Barclays' list. Shares have fallen 13% in 2023. The stock is one of eight names in the S & P 500 to have raised annual dividends consistently over the past 60 years. Barclays also highlighted Merck as a quality name that's cheap. The pharmaceutical company is a notable winner in the Dow since the Federal Reserve began its latest rate-hike cycle . Shares are down more than 3% this year. About 7 out of 10 analysts covering Merck rate it a buy or are overweight on the stock, according to FactSet. They see upside of nearly 13%. Industrial names United Parcel Service and 3M were also chosen as safe picks for a potential hard landing. UPS shares are up more than 7% in 2023, and the stock is a notable dividend increaser among the S & P 500 . Meanwhile, 3M is down more than 15% this year. Analysts see upside of 14% from here, according to FactSet. Several tech stocks made the list, including Microsoft and Accenture . Microsoft shares have gained 15% in 2023. More than 8 out of 10 analysts covering the stock rate it a buy, according to FactSet. The tech giant's shares have been boosted by the recent boom in artificial intelligence . Accenture was a top performer in the prior trading week after the company announced it would lay off about 2.5% of its workforce , or 19,000 jobs. Shares are up more than 2% in 2023, and analysts see upside of more than 13%, according to FactSet. —CNBC's Michael Bloom contributed to this report.

https://www.cnbc.com/2023/01/31/stocks-making-the-biggest-moves-midday-pentair-ups-and-more.html

UPS

United Parcel Service

Stocks making the biggest moves midday: GM, McDonald's, UPS, Pulte, International Paper and more

General Motors CEO Mary Barra speaks to reporters while she waits for the arrival of President Joe Biden at media day of the North American International Auto Show in Detroit, Michigan, September 14, 2022. Check out the companies making headlines in midday trading Tuesday. General Motors — The automaker's stock surged 8.4% on Tuesday after the company cruised past analyst estimates on the top and bottom lines for its fourth quarter. The company reported an adjusted $2.12 per share on $43.11 billion in revenue. Analysts surveyed by Refinitiv were looking for $1.69 in earnings per share on $40.65 billion in revenue. The outperformance came despite profit margins narrowing year over year. GM also said it expected earnings to fall in 2023, but that guidance was still above analyst estimates. Caterpillar — Shares fell about 3.5% after Caterpillar reported a 29% earnings decline. The construction machinery and equipment maker said higher manufacturing costs and foreign currency effects weighed on its quarterly results. Paramount — Shares of the entertainment giant gained 2.4% after a downgrade to underperform from neutral by Macquarie, which cited its exposure to advertising. CNBC reported Monday that the company will integrate Showtime's streaming service into its main streaming platform, Paramount+. A.O. Smith — Shares skyrocketed 13.7% after the manufacturing company reported earnings of $0.86 per share, beating consensus estimates. The company has beat EPS estimates three times over the last four quarters. McDonald's — Shares dipped 1.3% after McDonald's reported its latest quarterly results. Although the fast food company's earnings and revenue beat expectations, management cautioned that rising cost pressures are likely to continue in 2023. UPS — Shares of United Parcel Service gained 4.7% on Tuesday after shipping and transportation giant posted earnings of $3.62 a share, slightly ahead of the $3.59 expected by analysts surveyed by Refinitiv. UPS also raised its dividend and sanctioned a new $5 billion stock repurchase plan. PulteGroup — Shares of the homebuilder soared 9.4% after the company reported better-than-expected fourth quarter earnings. The company reported $3.63 in adjusted earnings per share on $5.17 billion of revenue, and its homebuilding gross margin rose year over year. International Paper — Shares of the packaging and paper products company rallied 10.7% after reporting fourth-quarter adjusted operating earnings of 87 cents per diluted share, exceeding StreetAccount's estimate of 69 cents per diluted share. International Paper also gave fiscal year 2023 guidance of $2.8 billion compared to the $2.4 billion expected. Pentair — Shares of Pentair surged 9.2% after the water treatment company reported earnings that topped Wall Street estimates for earnings and revenue. The company also gave solid forward guidance for earnings for the full year 2023. Lam Research — Shares were up 4.5% on Tuesday after Citi added a positive catalyst watch on the semiconductor company and said it expects the stock to outperform. — CNBC's Samantha Subin, Alex Harring, Jesse Pound, Yun Li, Carmen Reinicke, Michelle Fox Theobald, and Hakyung Kim contributed reporting.

https://www.cnbc.com/2023/03/16/stocks-moving-big-after-hours-fdx-frc-.html

UPS

United Parcel Service

Stocks making the biggest moves after hours: FedEx, First Republic Bank and more

A worker sorts packages at a FedEx Express facility on Cyber Monday in Garden City, New York, US, on Monday, Nov. 28, 2022. Check out the companies making headlines in extended trading. FedEx — The package-shipping company's shares were up 9% after it reported a beat on earnings in its fiscal third quarter and raised its earnings forecast for the full year. FedEx reported adjusted earnings of $3.41 per share, topping analysts' estimates of $2.73 per share, according to Refinitiv. Meanwhile, the company's revenue fell below expectations. FedEx posted $22.17 billion in revenue, while analysts had estimated $22.74 billion. Shares of United Parcel Service popped 2% in sympathy. First Republic Bank — The bank's shares were down 15% during after-hours trading. During the regular trading session, the stock reversed earlier losses and rallied almost 10% as a group of 11 banks, including Bank of America and Goldman Sachs, agreed to deposit $30 billion in First Republic. Shares of Zions Bancorp and KeyCorp , which are among the regional banks facing a rough week, fell more than 2%. Merck — Shares of the pharmaceutical company fell nearly 2% in extended trading after Merck provided an update on a trial for one of its metastatic non-small cell lung cancer drugs. The results didn't reach "statistical significance," and Merck said patients in this arm of the study "should be switched to a standard of care."

https://www.cnbc.com/2022/07/26/shares-of-ups-fall-after-company-says-higher-rates-in-q2-offset-lower-than-expected-volumes.html

UPS

United Parcel Service

Shares of UPS fall after company says higher rates offset lower-than-expected volumes in second quarter

Shares of United Parcel Service fell Tuesday morning after the company said higher rates offset lower-than-expected delivery volumes in the second quarter. The Atlanta-based company said volumes declined and fell short of its forecast by 222,000 packages per day. It attributed the miss partially to reductions in its contracts with customers like Amazon . "We project by the end of this year that Amazon revenue will be less than 11% of our total revenue," said CEO Carol B. Tome, noting that UPS agreed to a level that makes sense for it and will give the company room to grow in other areas. UPS stood by its full-year financial outlook after posting earnings and revenue that topped Wall Street expectations. The company's stock closed down about 3% at $181.53. For the quarter, the company reported adjusted earnings of $3.29 per share, which was more than the $3.16 per share analysts expected. Revenue for the period was $24.77 billion, also topping the $24.63 billion Wall Street expected. The strong dollar hurt UPS international business, reducing international revenue by $261 million and profits by $60 million. For the second half of the year, Chief Financial Officer Brian Newman said that the company anticipates that volume growth rates "will improve slightly" with full-year GDP growth expected to slow. The company reaffirmed its outlook for full-year revenue of $102 billion and adjusted operating margin of about 13.7%.

https://www.cnbc.com/2019/08/04/workers-from-amazon-to-united-airlines-demand-more-pay-after-profits-soared.html

UPS

United Parcel Service

Corporate profits have soared and workers from Amazon to United Airlines are now demanding their cut

Pilots demonstrating for better working conditions people who fly planes for Amazon.com and Atlas Air Worldwide picket outside Amazon.com's annual shareholders meeting, May 22, 2019, in Seattle, Washington. Ted S. Warren | AP Photo In the decade since the U.S. emerged from the recession, many industries, including airlines and automakers, have enjoyed a near uninterrupted streak of profits. U.S. airlines, better known for their boom and bust cycles, are headed for their 10th straight year of profitability. The top four biggest airlines and three biggest automakers in the country brought in more than $25 billion in profit last year. Now, across the U.S., workers who assemble cars, fly planes, prepare airplane food, clean hotel rooms and stock grocery store shelves, just to name a few — many of them unionized employees in the middle of contract talks — are determined to get a bigger cut of the spoils. Avoiding strikes The contracts currently under negotiation between the United Auto Workers and Big Three Detroit automakers expire in September and will set the wages and benefits for about 158,000 employees for the next few years. The more than 37,000 pilots at the three largest U.S. airlines — Delta , United and American — are seeking higher pay and better retirement benefits after cuts in past downturns. "Our goal is to reach an agreement that continues to recognize the contributions of our pilots toward our company's success while also positioning Delta to continue its momentum," Delta said in a statement. After 35 years of shrinking union participation rates across the U.S., non-unionized employees at JetBlue, Amazon , Uber and Lyft are increasingly making demands for higher pay or trying to organize — emboldened by the tight labor market, low corporate taxes, healthy company profits, and rising living costs. Grocers owned by Kroger and Albertsons in Southern California, including Albertsons, Vons, Pavilions and Ralph's, are deep in negotiations with local members of the United Food and Commercial Workers in hopes of staving off their own strike. The region's last grocery strike, fifteen years ago, reportedly cost the grocers $1.5 billion in sales. "You can't reverse 40 years of inequality in one to two years," said Dean Baker, senior economist at the Center for Economic and Policy Research. Wage growth lags The root of the tension, economists say, is that wage growth has not kept pace with an increase in productivity and the cost of living, despite a recent uptick. That comes as U.S. unemployment is near a 50-year low and companies need those workers. "That means someone is getting more of the money," said Nobel Prize-winning economist Joseph Stiglitz. "It is totally understandable why workers say 'we ought to do something.' I think the fear is: As bad as things are now they could get worse and that if we don't do something preemptively we're in for even more difficulties." Weekly wages in the U.S. increased an average of 2.6% each year from 2008 to 2018, according to the Bureau of Labor Statistics. Workers are now seeking not only higher pay but better working conditions, health benefits and better retirement packages, just as some companies are bracing for lower economic growth forecasts and the impact of tariffs. Making ends meet "The American worker ... has been stretched further and further and further to make ends meet," said labor leader and United flight attendant Sara Nelson, president of the Association of Flight Attendants-CWA, which represents some 50,000 flight attendants at 20 airlines. "That's an impossible hamster wheel to stay on." Labor unions are now arguing that their members deserve higher pay as their employers are flush with profits. Their ranks had been hit by layoffs, furloughs, pay, pension and benefit cuts as their employers struggled in recessions and bankruptcy. United Auto Workers President Gary Jones made it clear last month that union members expect to be rewarded for past work during contract negotiations this year with the Big Three in Detroit, even though U.S. auto sales this year are expected to fall below 17 million vehicles for the first time since 2014. The drop would mark the second decline in U.S. industry sales since the record of 17.55 million vehicles sold in 2016. Amazon protest The unionized workers aren't the only company employees demanding better pay and working conditions. Non-unionized workers at JetBlue and Delta have recently organized or are considering organizing, despite company messages against it. In May, Uber and Lyft drivers in cities from London to Los Angeles demonstrated for higher wages, some of them shutting off the ride-hailing apps during the strike. Drivers at Lyft and Uber recently won pay increases in New York. At Amazon, warehouse workers have used the online retailer's two-day Prime Day sale to demand higher wages. In Minnesota in July, Amazon workers held signs that read: "We're human; not robots" during their strike. Amazon workers in Europe also held strikes. The demonstrations took place after Amazon workers raised the minimum hourly wage it pays U.S. workers to $15 last year. The company last month said it is spending $700 million to retrain 100,000 U.S. workers as current job functions become more automated. Other companies have increased pay recently. Bank of America , for example, raised its workers' minimum pay to $20 an hour in March. Investors aren't always receptive. When American Airlines announced pay increases in April 2017 for its pilots and flight attendants, not tied to contract negotiations, shares fell more than 5% that day. watch now Record profits "We're seeing record profit for our American companies, it's sad to say those gains aren't really translating to our members," United Auto Workers' president Jones said during an event last month to officially start collective bargaining at Ford's headquarters in Dearborn, Mich. "In this time of corporate prosperity, labor is still being asked to take concessions … This must stop now." Aviation workers are also clamoring for more pay and benefits. They argue they still haven't fully recovered from cuts since the Sept. 11, 2001 terrorist attacks that roiled air travel demand and sparked a wave of airline bankruptcies. "You don't go through bankruptcy and win things," said Dennis Tajer, a Boeing 737 captain at American and spokesman for the Allied Pilots Association, which represents American's pilots. "It's like a massage with a cheese grater: It hurts." Tensions between company management and some of their employees have grown so severe that disputes are ending up in courtrooms as companies allege workers are disrupting operations to gain leverage in contract talks. Pleasing Wall Street Unions have argued their companies are aiming to please Wall Street instead of their own employees. Companies in the S&P 500 are reporting what is set to be their ninth-straight quarter of profit growth — bolstered by President Donald Trump's 2017 corporate tax cuts. Companies have spent a lot of that windfall to buy back their own shares, to the chagrin of workers seeking higher wages. In the first quarter, S&P 500 companies spent $205.8 billion on buybacks, the second-biggest sum on record after the previous quarter and 9% more than a year earlier, according to an analysis from S&P Dow Jones Indices. United, Southwest, American and Delta's buybacks are among the top 150 largest in the S&P over the past decade through the first quarter of this year, according to S&P Dow Jones Indices. United spent close to $3.9 billion buying back its own shares over the last two years, the data show. The Chicago-based airline's net income in the last two full calendar years was $4.2 billion, according to FactSet. Profit sharing UAW members, meanwhile, get a slice of the automakers' profits through profit-sharing bonuses. However, the union is still trying to make up for concessions it gave up during the last economic downturn, including a decade of stagnated wages prior to 2015. The union agreed to cut benefits and receive more substantial profit sharing in lieu of annual wage increases as a result of the Great Recession and the government-backed bankruptcies of General Motors and then-Chrysler in 2009. Under the current four-year deals, the automakers have paid more than $4 billion in profit-sharing bonuses to UAW members. The record payments, which are based on each company's annual earnings in North America, have averaged roughly $20,500 per worker at Fiat Chrysler , $33,400 at Ford and $45,500 for GM since 2015. First raises in years UAW members also received their first raises in a decade four years ago. Starting pay for hourly production workers is roughly $17 to $30 an hour based on seniority — well above other unionized workforces. The profit-sharing bonuses and stagnant wages have helped the automakers control fixed costs and put labor expenses more in line with non-unionized competitors — something executives hope to continue with these negotiations. "We cannot, we will not, repeat those actions that put us in those dangerous financial positions," Mark Stewart, chief operating officer of FCA - North America, said last month at the company's headquarters in Auburn Hills, Mich. "We cannot return to our old ways of doing business or we're risking the same result." Decades of bankruptcies Airline unions, whose members weathered decades of bankruptcies and their aftermath, are now seeking more for their workers in cockpits, cabins and maintenance hangars. The strong U.S. economy is propelling travel demand and putting the country's carriers on track this year for their 10th-straight year in the black. That's a sharp turnaround for a capital-intensive industry known for its boom-and-bust cycles that inspired recently born-again airline evangelist Warren Buffett to tell shareholders in 2008: "Indeed, if a farsighted capitalist had been present at Kitty Hawk, he would have done his successors a huge favor by shooting Orville down." Between the peak in 2001 and 2011, at the depths of airline industry turmoil, the sector had shed about 28% of its workforce or 145,000 jobs, according to the Department of Transportation. Full-time equivalent airline employees are back up to more than 440,000 jobs but off the pre-9/11 peak of more than 530,000 positions. A decade of consolidation that left four big airlines in control of most of the U.S. market and strong economic growth helped domestic carriers rake in nearly $90 billion in profits since 2010, according to Airlines for America, an industry group. "There's money to get," said Orley Ashenfelter, a Princeton University economics professor who specializes in labor relations and wages. "When the company's losing money it's hard to say you're important." Nasty fights Some labor tensions have grown so sour they're ending up in courtrooms. American Airlines, for example, said in a lawsuit this spring that it had to cancel hundreds of flights because the unions that represent its more than 12,000 mechanics were engaged in an illegal work slowdown. The unions are demanding better pay and stronger limits on how much maintenance work the airline can outsource to workers overseas and have denied the allegations. A federal court in Texas in June ordered the unions to notify workers not to engage in activities that could hurt the airline. Pilots for Atlas Air Worldwide Holdings , one of the cargo carriers that operates Amazon's package-delivery airline Amazon Air, in July lost their appeal to overturn an injunction against what Atlas called excessive sick calls and an illegal worker slowdown. The company said the labor dispute contributed to its disappointing quarterly earnings, which pushed down its stock 25% after it reported on Aug. 1. Pilots there have complained about grueling work hours and low pay compared with their counterparts at rivals. Earlier this year, Southwest had a similar dispute with its mechanics, but later reached a contract with the group, their first in more than six years, and a higher pay raise than Southwest offered in previous rounds of negotiations. Even workers that have relatively good relations with their employers are demanding better conditions. United Airlines flight attendants last winter picketed at United's hubs around the country after the company reduced staffing on board to FAA minimums (American and Delta were already staffed at that level), saying it compromised their safety, particularly as airlines fit more seats on board. Protest in D.C. Last month, the unions representing more than 20,000 airline catering workers around the country staged a protest at Washington D.C.'s Ronald Reagan National Airport demanding higher pay for the people who prepare airplane meals. Some 11,000 catering workers voted in June to strike. But they, like other airline employees, are under the Railway Labor Act, which prohibits work stoppages and walkouts unless they are released by the president-appointed National Mediation Board. The last commercial U.S. airline pilot strike, for example, was in 2010, when Spirit 's pilots walked off the job. Presidential hopefuls are keenly eyeing the labor dynamic. Democratic candidates like Sens. Elizabeth Warren and Bernie Sanders attended the catering workers' picket in Washington on July 23 as presidential hopefuls eye the growing gap between haves and have-nots as a key priority for millions of voters. "Trump has really heightened the issue because he did win…[and] the working class was key to his victory" said Dean Baker, Senior Economist at the Center for Economic and Policy Research. "He did create more emphasis on working class issues, and then he ends up making a lot of promises. Democrats will be claiming he didn't keep that." CNBC's Lauren Hirsch contributed to this article.

https://www.cnbc.com/2019/09/19/walgreens-to-test-drone-delivery-service-with-alphabets-wing.html

UPS

United Parcel Service

Walgreens to test drone delivery service with Alphabet's Wing

A pedestrian passes in front of a Walgreens Boots Alliance Inc. store in the Hollywood neighborhood of Los Angeles, California. Christopher Lee | Bloomberg | Getty Images Walgreens is testing a new on-demand delivery service with Alphabet 's drone delivery service Wing, beginning next month, the companies announced Thursday. The pilot program will deliver food and beverage, over-the-counter medications and other items within minutes, Walgreens said. Prescription deliveries will not be available. "Walgreens continues to explore partnerships to transform and modernize our customer experience and we are proud to be the first retailer in the U.S. to offer an on-demand commercial drone delivery option with Wing," said chief innovation officer Vish Sankaran. He said the company wants to provide customers the products they "need wherever, whenever and however they may want them." watch now Walgreens is just one of the companies scrambling to capture customers who look for quicker and more convenient deliveries. Amazon said in June its new delivery drone should be ready "within months" to delivery packages to customers. CVS CEO Larry Merlo said in January the company was "doing some work" to distribute prescriptions by drone. "We still have a ways to go before [drones are] the norm in our transportation networks and so on," said James Burgess, chief executive of Wing, which also announced a separate trial with FedEx on Thursday. "There's a lot of sensitivity and concern about the technology, and we're engaging with partners like Walgreens and FedEx to learn and get feedback." He wouldn't say how soon drone delivery might be available nationwide. The service will be tested in Christiansburg, Virginia, which has been working with the U.S. Department of Transportation to test drone delivery since 2016. Walgreens said that if and when services expand, the company is in a unique position to appeal to consumers, since approximately 78% of the U.S. live within five miles of a Walgreens. Wing's drone currently has a delivery range of 10 kilometers or about 6 miles. Walgreens will be the first retailer in the U.S. to test an on-demand drone delivery service with Wing in Christiansburg, Virginia next month. Source: Wing The test allows customers to choose from more than 100 individual products or from packs of curated items for allergies, babies, kids' snacks, or cough and cold. In April, Wing was the first drone operator to be certified as an air carrier by the Federal Aviation Administration, which allows it to deliver commercial goods. Amazon received FAA approval for Prime delivery in June. Walgreens' stock has fallen 20% since January and the company has a market value of $49 billion. Correction: Walgreens is testing a drone delivery service with Alphabet's Wing. FedEx is running a separate trial with Wing. WATCH: Why drone delivery startup Zipline made the CNBC Disruptor 50 list

https://www.cnbc.com/2022/01/04/cramers-investing-club-were-trimming-two-portfolio-stocks-locking-in-some-profits.html

UPS

United Parcel Service

Cramer's Investing Club: We're trimming two portfolio stocks, locking in some profits

(This article was sent first to members of the CNBC Investing Club with Jim Cramer. To get the real-time updates in your inbox, subscribe here .) After you receive this email, we will be selling 100 shares of Union Pacific (UNP) at roughly $251.95. In addition, we will be selling 125 shares of United Parcel Service (UPS) at roughly $216.82. Following the trades, the Charitable Trust will own 300 shares of Union Pacific and 600 shares of United Parcel Service. UNP's weighting in the portfolio will decline from about 2.37% to about 1.78% and UPS's weighting will decline from about 3.72% to 3.1%. We are ringing the register and booking profits in a couple of transport stocks that have had a good run since reporting third-quarter earnings in October (+10% for UNP and +6% for UPS) and started the new year trading at or near their all-time highs. We still think new highs are ahead for both stocks. Union Pacific has one of the best operating ratios in the industry and should benefit from continued economic growth with abating pressures in the supply chain. United Parcel Service is all about pure execution of CEO Carol Tome's "Better, Not Bigger" strategy. We are also anticipating a large dividend boost out of UPS next month. But we don't want to be greedy either, which explains why these sales are less about any change in our long-term thinking and more about our philosophy around prudently locking in gains as stocks go higher. By making these two sales, this is what we will accomplish. We will cash out some stock at their highs and raise cash for the additional flexibility to buy new opportunities that will most certainly be created by future volatility in the market. We will realize a solid gain of about 18% on Union Pacific shares purchased in March 2021. For UPS, we will realize a gain of about 30% on stock purchased in the fall of 2020. The CNBC Investing Club is now the official home to my Charitable Trust. It's the place where you can see every move we make for the portfolio and get my market insight before anyone else. The Charitable Trust and my writings are no longer affiliated with Action Alerts Plus in any way. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. See here for the investing disclaimer . (Jim Cramer's Charitable Trust is long UNP and UPS.) Jim Cramer on CNBC's Halftime Report. Scott Mlyn | CNBC

https://www.cnbc.com/id/22296701

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United Rentals

United Rentals Shares Rise on Settlement Hopes

Shares of United Rentals Monday rose about 6 percent after the company said it was holding talks in a bid to resolve its lawsuit to force Cerberus Capital Management to complete the planned $4 billion buyout of the equipment rental company. Cerberus withdrew its $34.50-per-share takeover offer for United Rentals in November. United Rentals sued Cerberus in a bid to force the buyout firm to complete deal. A trial between the two sides was scheduled to begin Monday but was postponed by a day "to allow the parties to continue settlement discussions that were recently initiated," United Rentals said in a statement. The statement gave hope to investors that the two sides could reach some kind of an agreement to save at least part of the deal, though what type of revised offer could emerge is not yet clear. United Rentals said no settlement had been reached yet and there were no assurances that any settlement would be reached. The company also declined to comment on any potential settlement terms or the likelihood one will be reached. Cerberus declined to comment. United Rentals stock was up $1.30, or 5.5 percent, at $24.85 in early Monday trading after climbing to a session high of $25.25. The trial is now scheduled to begin Tuesday at 10:00 am New York time in front of Chancellor William Chandler III in the Delaware Court of Chancery in Georgetown, Delaware. Cerberus and United Rentals are fighting over a clause in the merger agreement known as "specific performance." United Rentals has argued that the clause does not allow Cerberus to terminate the agreement and gives United Rentals the right to have the deal enforced. After United Rentals sued Cerberus in Delaware, Cerberus filed suit in November against United Rentals in New York State Supreme Court, saying the buyout firm was liable only for a $100 million break-up fee and associated costs. Cerberus argued that United Rentals had no right to seek additional relief or to force the buyout firm to complete the deal. The deal's collapse was one of several leveraged buyouts that have failed in recent weeks as buyers face difficulty getting funding amid weakening credit markets.

https://www.cnbc.com/id/21788011

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United Rentals

Cerberus Nixes United Rentals Bid

The company's release came after a Reuters report saying Cerberus was prepared to walk away from the deal. United Rentals shares plunged almost 31 percent Wednesday. Investment banks funding the deal are struggling with selling the associated debt offering. A Cerberus spokesman declined to comment. Last week, United Rentals' high-yield offering failed to price, according to KDP Investment Advisors. The pricing of the offering and the loan offering come at a tough time for banks, with the credit markets taking a further hit from large losses on Wall Street. Credit Crunch The high yield debt offering is led by Credit Suisse, Banc of America Securities, Morgan Stanley and Lehman Brothers. Investment bank UBS advised United Rentals on the deal. The bank declined to comment. The $4 billion leveraged buyout agreement in July was announced right as the credit market seized up from the subprime mortgage meltdown. The credit crunch has made it tough for banks to syndicate debt and loans, and they have leaned on private equity buyers to renegotiate debt terms. In some cases, the private equity firms have decided to walk away from the deal and pay a break-up fee or come to some kind of agreement. United Rentals, in the third quarter, said free cash was $43 million, compared with $123 million in the year-ago period. Private equity firms need strong cash flows to pay down debt used for leveraged buyouts.

https://www.cnbc.com/id/21893244

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United Rentals

United Rentals Sues Cerberus Over Broken Deal

United Rentals said Monday it filed a lawsuit seeking to force Cerberus Capital Management to complete its $4 billion leveraged buyout of the equipment rental company. Cerberus pulled its takeover offer of $34.50 per share last Wednesday, a move that sent the rental company's stock down 31 percent on the day. The battle between the company and the private equity firm comes as several leveraged buyouts have collapsed recently, with buyers and banks feeling the heat from the weakening debt and credit markets, as well as a cloudy economic picture. Taking center stage in United Rentals' legal case is a clause in the merger agreement known as "specific performance," which the company says gives it the right to force Cerberus to complete the deal at the original price. The company also argues the clause gives United Rentals , and not Cerberus, the right to end the agreement. RAM Holdings, the Cerberus acquisition vehicle for the deal, has said its liability is limited to the $100 million break-up fee, which it has offered to the company. Cerberus has said it increased the offer price when negotiating the deal in order to have the option to walk away and pay the break-up fee if it decided against buying the company. United Rentals disputes the assertion. A clause right below "specific performance" in the merger agreement, titled "limited guarantee," says that Cerberus' maximum liability is $100 million plus costs. By suing the Cerberus acquisition vehicle, United Rentals moved on Monday to settle the dispute in court rather than in the boardroom. There are few cases in which a court successfully forced a buyer to complete a deal it does not want, M&A lawyers say. Through RAM Holdings and another affiliate, RAM Acquisition, Cerberus responded that United Rentals had been "less than forthright" in its filings and communications. "This ability to walk away from the transaction with limited exposure was specifically bargained for (and) is clearly and unambiguously stated in the merger agreement," the two Cerberus affiliates said. United Rental shares fell 3.7 percent to close at $22.50 on Monday on the New York Stock Exchange. Cerberus has said it is willing to lower the price of its offer, something United Rentals appears unwilling to consider. "United Rentals believes that the repudiation ... is nothing more than a naked ploy to extract a lower price at the expense of United Rentals' shareholders," the company said in a statement. Unlike other broken private equity deals in the last few months, Cerberus is not citing a material adverse change in the business as a reason for backing out. Rather, it is citing uncertainty in the credit and financing markets. United Rentals repeated its assertion that Cerberus had binding commitment letters from its financing sources and that pulling the offer is "unwarranted and incompatible" with the deal. Other private equity deals that have fallen apart in recent weeks include audio equipment maker Harman International Industries and data management company Acxiom . The leveraged buyout of student loan provider SLM , or Sallie Mae, is being fought out in court, where the United Rentals deal is headed if the two sides cannot settle on a revised agreement.

https://www.cnbc.com/2022/04/25/vacation-rentals-across-middle-east-look-to-capitalize-on-revenge-tourism.html

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United Rentals

Swanky vacation rentals across the Middle East look to capitalize on 'revenge tourism' trend

Luxury Explorers has properties like Villa Botanica in the exclusive Emirates Hills, often referred to as the "Beverly Hills" of the UAE. DUBAI, United Arab Emirates — In the Middle East, a new breed of high-end vacation rental firms are scrambling to meet the needs of today's traveler — who has very different preferences post-pandemic. The global vacation rental market — valued at $22.7 billion in 2020 — will surpass a whopping $111.2 billion by 2030, according to a Precedence Research study late last year. The research spoke of a "revenge tourism" trend with millennials and the younger generations driving growth during the first few years after the coronavirus pandemic. According to the analysts, this is mainly driven by the rising awareness among travelers on the extra space and comfort offered by vacation rentals, not to mention, in some extreme cases, the "extras" like high-tech gyms, private cinema screens, smart home appliances, as well the services of personal attendants, butlers, and even chefs. One firm looking to cash in on this is Dubai-based travel agency Luxury Explorers. During the pandemic, the company saw which way the wind was blowing and took a leap into the premium holiday homes business, establishing the Luxury Explorers' Collection in mid-2020. The firm has properties like Villa Botanica in the exclusive Emirates Hills, often referred to as the "Beverly Hills" of the UAE. Luxury Explorers' Collection CEO Mohammed Sultan told CNBC: "The idea really started in 2018 when we found out some of our VIP clients working with our agency were keen to spend their holidays in luxury vacation homes and villas when they travel around the world." "At that time Dubai didn't have the level of premium holiday rentals that these clients were experiencing in Southern France, Italy, and Los Angeles — areas which are well developed in terms of short-stay lettings." "It was then we decided to set our sights on pioneering the local market's evolution by offering high-end properties that are not only visually stunning but at the same time rich with exclusive perks and personalized concierge services."

https://www.cnbc.com/2017/01/26/united-rentals-shares-jump-after-announcing-nes-rentals-acquisition-and-earnings-beat.html

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United Rentals

United Rentals shares jump after announcing NES Rentals acquisition and earnings beat

Shares of United Rentals skyrocketed 11 percent Thursday after the equipment rental company reported stronger-than-expected earnings and announced that it would buy NES Rentals. On Wednesday, the company reported fourth-quarter earnings of $2.67 per share on revenue of $1.52 billion. Wall Street expected earnings of $2.24 per share on revenue of $1.5 billion, according to Thomson Reuters consensus estimates. The largest equipment rental company in the world said it would purchase NES Rentals for $965 million in cash. The Connecticut-based company said that it hopes the deal will expand its presence in Gulf states, the Midwest and the East Coast. United Rentals CEO Michael Kneeland said he looks forward to welcoming the NES team to the company. "The NES agreement satisfies the rigorous strategic, financial and cultural standards we set for acquisitions," Kneeland said. "In NES, we're acquiring a well-run operation that's primed to benefit from our technology, infrastructure and cross-selling capabilities. We'll be working side by side throughout the integration to capitalize on best-in-class expertise from both sides." The rental company also raised its 2017 outlook and said it now expects $5.95 billion in revenue. The company had previously projected fiscal 2017 revenue of $5.75 billion. United Rental shares closed at $105.75 a share on Wednesday, before news of the acquisition or fourth quarter earnings were released.

https://www.cnbc.com/select/united-credit-card-welcome-offers/

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United Rentals

Earn up to 100,000 bonus miles with new United Airlines credit card offers

The offers mentioned below for the for the United Club℠ Infinite Card, United Quest℠ Card, United℠ Explorer Card, and United Gateway℠ Card are no longer available. Chase released elevated welcome bonuses on all four of its personal United Airlines' co-branded credit cards. For a limited time, you can earn up to 100,000 bonus miles when signing up for a new United card. These offers are a great way to save on upcoming flights as the demand for travel continues to soar. The new bonuses are available on these four cards: United Club℠ Infinite Card United Quest℠ Card United℠ Explorer Card United Gateway℠ Card These cards also come with useful benefits for frequent United flyers, such as no foreign transaction fees, free checked bags, and access to more award seats on United when booking flights with miles. Select breaks down the new welcome bonuses on the United cards, and how you can redeem United miles for outstanding travel experiences. Subscribe to the Select Newsletter! Our best selections in your inbox. Shopping recommendations that help upgrade your life, delivered weekly. Sign-up here. United Club℠ Infinite Card New bonus: Earn 100,000 bonus miles after spending $5,000 on purchases in the first three months of account opening. Old bonus: Earn 80,000 bonus miles after spending $5,000 on purchases in the first three months of account opening. Select's take: This is one of the higher public welcome offers we've seen for the United Club℠ Infinite Card, and especially generous for an airline credit card. If you value United miles at a minimum of one cent each the 120,000-mile welcome bonus is worth $1,200 towards airfare — however, it's easy to get even more value from your miles. The card comes with a long list of benefits, including: Access to United Club (and participating Star Alliance™ affiliate) airport lounges Free first and second checked bag when flying on United ($35 value on first bag, $45 value on second bag each way, per person) Up to $100 credit to enroll in NEXUS, TSA PreCheck or Global Entry 25% back on in-flight purchases, as a statement credit Save 10% on United economy saver award flights when flying within the continental U.S. and Canada Earn up to 8,000 Premier qualifying points (PQPs) towards United elite status per year. You'll earn 500 PQPs for every $12,000 you spend on purchases Premier Access travel services (priority check-in, expedited security, boarding and baggage handling) Complimentary IHG One Rewards Platinum Elite status Additional hotel benefits such as daily breakfast for two, room upgrades (based on availability), early check-in and late check-out (based on availability) and a special amenity worth $100 when you stay at properties within Chase's Luxury Hotel & Resort Collection Comprehensive travel insurance including trip cancellation/interruption, baggage delay insurance, trip delay reimbursement and rental car coverage Visa Infinite concierge services The card does come with a steep $525 annual fee, but if you can take advantage of the benefits you can definitely come out ahead. The main perk of the card is the United Club lounge access, which if you were to buy directly from United, is $550 to $650 (price depends on your level of United elite status). United Quest℠ Card New bonus: Earn 80,000 bonus miles after spending $5,000 on purchases in the first three months of account opening. Old bonus: Earn 70,000 bonus miles after spending $4,000 on purchases in the first three months of account opening. Offer ended 11/9/22. Select's take: The United Quest℠ Card is a solid travel credit card that gives cardholders great benefits, including annual United Airlines statement credits and up to two anniversary award flight credits every year. Although the welcome bonus is very large now, the spending requirement has also increased. Here are some of the benefits you receive with this card: Annual United Airlines statement credit of up to $125 each anniversary to reimburse you for United purchases made that year Two 5,000-mile anniversary award flight credits (up to twice a year), which puts 5,000 United miles back in your account when you book award flights with United or United Express Free first and second checked bag when flying on United ($35 value on first bag, $45 value on second bag each way, per person) Up to $100 credit to enroll in NEXUS, TSA PreCheck or Global Entry Priority boarding for the cardholder and their companions Premier seat upgrades on award tickets 25% back on in-flight purchases, as a statement credit Earn up to 6,000 Premier qualifying points (PQPs) towards United elite status per year. You'll earn 500 PQPs for every $12,000 you spend on purchases Additional hotel benefits such as daily breakfast for two, room upgrades (based on availability), early check-in and late check-out (based on availability) and a special amenity worth $100 when you stay at properties within Chase's Luxury Hotel & Resort Collection Comprehensive travel insurance including trip cancellation/interruption, baggage delay insurance, trip delay reimbursement and rental car coverage Visa Signature concierge services United℠ Explorer Card New bonus: Earn 60,000 bonus miles after spending $3,000 on purchases in the first three months of account opening. Old bonus: Earn 50,000 bonus miles after spending $3,000 on purchases in the first three months of account opening. Offer ended 11/9/22. Select's take: The United℠ Explorer Card is a good option for occasional travelers who want luxury benefits without paying the high annual fee of a premium credit card. It's one of the few low-cost airline travel cards that come with some lounge access and a Global Entry, TSA PreCheck or NEXUS application fee credit. The card comes with a host of benefits, such as: Free first checked bag when flying on United Two United Club one-time passes each year Priority boarding for the cardholder and their companions Expanded access to United economy saver award flights 25% back on in-flight purchases, as a statement credit Earn up to 1,000 Premier qualifying points (PQPs) towards United elite status per year. You'll earn 500 PQPs for every $12,000 you spend on purchases Additional hotel benefits such as daily breakfast for two, room upgrades (based on availability), early check-in and late check-out (based on availability) and a special amenity worth $100 when you stay at properties within Chase's Luxury Hotel & Resort Collection Comprehensive travel insurance including trip cancellation/interruption, baggage delay insurance, trip delay reimbursement and rental car coverage No foreign transaction fees Visa Signature concierge services The two United Club one-time passes alone are worth over $100 per year, making it easy to offset the card's modest $95 annual fee. Even better, the annual fee is waived for the first year. United Gateway℠ Card New bonus: Earn 30,000 bonus miles after spending $1,000 on purchases in the first three months of account opening. Old bonus: Earn 20,000 bonus miles after spending $1,000 on purchases in the first three months of account opening. Offer ended 11/9/22. Select's take: The United Gateway℠ Card is ideal for those who want to earn United miles on common everyday expenses without paying an annual fee. If you value United miles at a minimum of one cent each the welcome bonus is worth $300 towards airfare, but it's possible to get even more value. Cardholders receive a decent variety of travel and everyday benefits, including: 25% back on in-flight purchases, as a statement credit No foreign transaction fees Purchase protection Extended warranty protection Roadside dispatch Auto rental collision damage waiver (secondary) Travel and emergency assistance services Trip cancellation/interruption insurance Visa Signature concierge services How to maximize United miles You'll get the best value from your United miles when using them to book flights on United or with its Star Alliance partners (including Air Canada, Avianca, Lufthansa, Singapore Airlines and more). For instance, you can use them to book flights within the U.S. in economy class for as little as 6,000 miles one-way. Plus, most co-branded United cards provide expanded award availability on these routes. If you want to venture a little further from home, flights to Caribbean destinations generally start around 17,500 miles in economy and 35,000 miles in first class. To get even greater value, consider redeeming them for long-haul business class flights, such as to Europe or Asia, which can sometimes start as low as 60,000 or 70,000 miles one-way, respectively. What's great about United miles is that they never expire and that you can use them to book any available seat on a United flight, even if it's the last seat on the plane. Just note that the closer to departure you book, the more expensive the award will be. Bottom line All of the personal United-branded credit cards are currently offering great welcome bonuses for new cardholders looking to save on airfare costs. Even if you value United miles at a modest 1 cent apiece the United Club℠ Infinite Card's 120,000-mile bonus is worth $1,200. However, the minimum spending requirement to earn the bonus is substantial so make sure you're not overspending on purchases you wouldn't ordinarily make. Also, consider Chase's 5/24 rule before applying — if you've opened five or more personal credit cards (from any card issuer) within the past 24 months, there's a strong chance you'll be denied. If United is not the airline you fly with the most and you want more flexibility with your points, take a look at the Chase Sapphire Preferred® Card, which is currently offering a welcome bonus of 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. You can transfer Chase points to United (or any of its 14 other airline and hotel partners) at a 1:1 ratio, meaning you could have 60,000 United miles after earning that welcome bonus. 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/united-club-infinite-credit-card-review/

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United Rentals

United Club Infinite Card review: Earn a 80,000-mile welcome bonus with this premium credit card

The United Club℠ Infinite Card is a luxury co-branded airline credit card that lets you earn United miles on daily purchases and provides benefits such as free checked bags and United Club lounge membership. New cardholders can also score a solid welcome bonus of 80,000 bonus miles after you spend $5,000 on purchases in the first 3 months from account opening. If you're a frequent United Airlines flyer who values access to United Club lounges than this premium travel credit card is a real contender for a place in your wallet. Below, Select breaks down the rewards, benefits and fees associated with the United Club℠ Infinite Card to decide if it's right for your needs. Subscribe to the Select Newsletter! Our best selections in your inbox. Shopping recommendations that help upgrade your life, delivered weekly. Sign-up here. United Club℠ Infinite Card review United Club℠ Infinite Card Learn More On Chase's Secure Site Rewards Earn 4 miles per $1 spent on United® purchases, 2 miles per $1 spent on all other travel and dining, and 1 mile per $1 spent on all other purchases Welcome bonus Earn 80,000 bonus miles after qualifying purchases Annual fee $525 Intro APR None Regular APR 21.99% - 28.99% Variable Balance transfer fee 5%, minimum $5 Foreign transaction fees None Credit needed Excellent Member FDIC. Terms apply. Pros United Club membership with access to over 45 United Club locations and participating Star Alliance™ affiliated lounges worldwide Up to $100 Global Entry or TSA PreCheck fee credit every four years No fee on purchases made outside the U.S. Cons High annual fee No intro 0% APR period Learn More View More Welcome bonus The welcome bonus offered with this card delivers big value, allowing new cardholders to earn 80,000 bonus miles after you spend $5,000 on purchases in the first 3 months from account opening. If you value United miles at a modest 1 cent per mile you'd end up with about $800 worth of travel from the bonus alone, and that's not even including the additional miles you'll earn from purchases made to get the bonus. Compared to other travel credit cards this is one of the most lucrative welcome bonus offers available at the moment. Many are able to get more value from United miles as well, so this bonus could easily be worth way more depending on how you redeem your miles. Keep in mind that you won't be able to get the welcome bonus if you already have another United Club card or you've already gotten a welcome bonus for another United Club card within the past 24 months. Benefits and perks The United Club℠ Infinite Card is packed with plenty of features for cardholders to take advantage of. If you're thinking of applying, it's important to think realistically about how many of the perks you'll actually use — and how often — to make sure it's worth your while. Once approved for the card, you'll be able to enjoy the following benefits: Access to United Club (and participating Star Alliance™ affiliate) airport lounges worldwide Complimentary first and second checked bags when you fly with United, reflecting a $35 value on the first bag and up to $45 value on second bag each way, per person (up to $320 in savings per round-trip flight) Up to $100 statement credit every four years when you enroll in NEXUS, TSA PreCheck or Global Entry 25% back on in-flight purchases such as Wi-Fi, food or beverages (as a statement credit) 10% off United economy saver award flights within the continental U.S. and Canada Because it's a co-branded MileagePlus credit card, you'll earn up to 10,000 Premier Qualifying Points, or PQPs, toward United elite status annually — 25 PQP for every $500 you spend on purchases Premier Access travel services such as priority check-in and expedited security, boarding and baggage handling Comprehensive travel insurance including trip cancellation and interruption, baggage delay insurance, reimbursement for lost luggage and trip delays, travel accident insurance (including travel and emergency assistance services and emergency evacuation and transportation) and rental car coverage (collision damage waiver) Visa Infinite concierge services By taking advantage of most or all of these benefits, you can easily justify the card's $525 annual fee. Even if you just get the card for United Club access, you'll be saving money since a membership costs $550 to $650 when you're purchasing directly from United. How to earn and redeem United miles Earning United MileagePlus miles When you spend on the card, you'll earn: 4 miles per dollar on all purchases from United® purchases, including in-flight services such as Wi-Fi, food and beverages, as well as tickets for flights 2 miles per dollar on all other travel purchases — flights, hotels, cruises, trains, rental cars, tolls, public transportation, taxis and ride-sharing services 2 miles per dollar on dining 1 mile per dollar spent on all other purchases Select calculated how many miles the average American could potentially earn in a year by using their United Club℠ Infinite Card. We worked with the location intelligence firm Esri, who provided us with a sample annual spending budget of $22,126. The budget includes six main categories: groceries ($5,174), gas ($2,218), dining out ($3,675), travel ($2,244), utilities ($4,862) and general purchases ($3,953). Here's what the average consumer would earn by using this credit card: Groceries: 5,174 United MileagePlus miles Gas: 2,218 United MileagePlus miles Dining out: 7,350 United MileagePlus miles Travel: 8,976 United MileagePlus miles (assuming all travel dollars are spent with United Airlines) Utilities: 4,862 United MileagePlus miles General purchases: 3,953 United MileagePlus miles With all spending considered, you could end up earning 32,533 United MileagePlus miles within the first year if you were to include the 120,000-mile welcome bonus — this type of spending would end up yielding a total of 152,533 United MileagePlus miles. Over a five-year period, cardholders could potentially earn 282,665 United MileagePlus miles, although the total amount would depend more on an individual or business' annual spending habits. Alternatively, if you're trying to rack up a large amounts of United MileagePlus miles in a hurry, consider earning rewards through credit cards with transferable rewards. Credit cards like the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® let you earn Chase Ultimate Rewards® points, which can be transferred directly to United MileagePlus at a 1:1 ratio. These cards are some of the best travel credit cards because you have the flexibility to redeem your rewards in a variety of ways, including transferring them to United Airlines. Redeeming United MileagePlus miles Once you earn enough United MileagePlus miles, the fun part is redeeming them for free flights. Be aware that while the flight cost is covered by miles, you're still responsible for paying any applicable taxes and fees. For example, if you were to redeem them for a flight within the U.S., you will still have to pay $5.60 each way in taxes and fees. To redeem MileagePlus miles, visit the United website and begin searching for your desired flight pattern. Before you hit the search button, click the "book with miles" box. From there, you will be able to look through any available flights and see how many miles it will cost for each seat class. Keep in mind that you should really aim to get more than 1 cent per point in value for your United MileagePlus miles. Anything below that wouldn't be a great redemption, and you may be better off paying cash for the fare. Lastly, if you're trying to book travel outside the United States, you may find yourself seeing different airlines on the United website. This is because of United's connection to Star Alliance, an airline alliance with 26 members. As a result, you'll be able to earn miles by flying with any one of them and can also redeem your MileagePlus for flights on any of United's partners. If you're searching for flights from New York to Singapore, for instance, you'll be shown flights with Singapore Airlines, while if you're interested in traveling to Germany, flights with SWISS Airlines or Lufthansa will appear in your search results. In short, as you continue to earn United MileagePlus miles by spending with the United Club℠ Infinite Card, it's in your best interest to spend them as you earn them. If you were to instead hold onto a large amount of airline miles, you'd be susceptible to devaluation announcements from United Airlines or could potentially having them digitally stolen from you before you get to use them. Rates and fees The card has a $525 annual fee. It has no foreign transaction fees. Late payment fees can be up to $40. Card comparison The United Club℠ Infinite Card is a solid option for someone who prefers luxury travel benefits when flying with United Airlines. But how does it stack up against other luxury travel credit cards? Select compared two other popular credit cards to see how it really matches up. United Club℠ Infinite Card vs. The Platinum Card® from American Express The Platinum Card® from American Express is a value-packed luxury travel card that offers terrific benefits for both your travels and day-to-day necessities. You can also earn a ton of American Express Membership Rewards® points when you spend with the card. To get you started, the card comes with a large welcome bonus of 80,000 Membership Rewards® points after spending $8,000 in your first 6 months of card membership. And as you spend on the card, you'll earn: 5X points per dollar on flights booked directly with airlines or through American Express Travel (up to $500,000 per year) 5X points per dollar on prepaid hotels booked through American Express Travel 1X points per dollar spent everywhere else With the Amex Platinum you'll also have access to a long list of benefits, including: Up to $200 in annual airline fee credits and up to $200 in Uber credits per year. Terms apply. Access to the Global Lounge Collection, which has over 1,200 airport lounges in more than 130 countries. Including access to Amex Centurion Lounges and Delta Sky Clubs $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®. (Hotel Collection requires a minimum two-night stay) A $240 Digital Entertainment Credit: Get up to $20 in statement credits each month when you pay for eligible purchases with the Platinum Card® at your choice of one or more of the following providers: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required. A $155 Walmart+ statement credit to help you cover the cost of a $12.95 monthly Walmart+ membership after you pay for monthly Walmart+ service with your card. Plus Ups are excluded. Subject to auto-renewal. A $300 credit per calendar year with Equinox. Enrollment required. Visit https://platinum.equinox.com/ to enroll. A $100 credit when you shop at Saks Fifth Avenue, divided into $50 for each half of the year. Enrollment required. A $189 credit when you enroll in CLEAR® Plus Comprehensive travel insurance and complimentary American Express concierge services Terms apply. The Platinum Card comes with a whopping $695 annual fee (see rates and fees), which can easily be made back in value by utilizing available spending credits and taking advantage of large earnings for booking travel. When comparing the two cards, consider how often you fly and with which airline(s). If you tend to only fly with United Airlines and visit only United Club lounges, the United Club Infinite Card would be the better choice. If you're looking for more flexibility with credit card rewards, more spending credits and a much larger list of airline lounges you can access, the Amex Platinum Card may be your best bet. If you're primarily a Delta flyer you may be better suited with the Amex Platinum, as you get complimentary access to Delta Sky Clubs when flying on Delta. The Platinum Card® from American Express Learn More On the American Express secure site Rewards Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year, 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel, 1X points on all other eligible purchases Welcome bonus Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu. Annual fee $695 Intro APR None Regular APR See Pay Over Time APR Balance transfer fee N/A Foreign transaction fee None Credit Needed Excellent/Good See rates and fees, terms apply. Read our The Platinum Card® from American Express review. United Club℠ Infinite Card vs. Chase Sapphire Reserve® The Chase Sapphire Reserve® is another premium travel credit card that offers cardholders a wide variety of benefits. Once you're approved for the card, the current welcome bonus lets you earn 60,000 Chase Ultimate Rewards® after you spend $4,000 within the first three months of account opening. With the Chase Sapphire Reserve card, you'll have access to valuable benefits, such as: A $300 travel credit 50% more in value when you redeem Ultimate Rewards points through Chase Travel℠ A $100 statement credit for enrolling in either TSA PreCheck, Global Entry or NEXUS Access to airport lounges, including Priority Pass lounges Comprehensive travel insurance, purchase protection and return protection No foreign transaction fees By spending with the card, you'll also be able to earn a large amount of Ultimate Rewards points through flexible spending categories: 10X points per dollar on hotel and rental car reservations purchased through Chase Travel℠ (after spending $300 on travel) 10X points per dollar when you use the Chase Dining program 5X points per dollar on flights purchased through Chase Travel℠ (after spending $300 on travel) 3X points per dollar on travel expenses (like flights, hotels, cabs, Ubers, trains and more) worldwide (after spending $300 on travel) 3X points per dollar at restaurants and eligible delivery services, including takeout 1X point per dollar spent everywhere else The Chase Sapphire Reserve card comes with a $550 annual fee, just $25 more than what you'd pay for the United Club Infinite Card's annual fee. If you're deciding between the two cards, it really comes down to which benefits you think you will use the most and if you wish to have more flexibility with your rewards. Chase Ultimate Rewards® points can be transferred directly to United MileagePlus at a 1:1 ratio, so you could potentially earn more miles by using the Chase Sapphire Reserve card than the United Club Infinite Card based on where you do most of your spending. Plus, you can transfer to your Chase points to over ten other partners or redeem them through Chase Travel℠ where you'll ultimately have more flexibility in redemption. However, if your main focus is on earning status with United Airlines, the United Club Infinite Card gives you the chance to earn up to 10,000 Premier Qualifying Points per year — 25 per $500 spent — to help expedite your status-earning journey. Chase Sapphire Reserve® Learn More On Chase’s secure site Rewards Earn 5X total points on flights and 10X total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases plus, 10X points on Lyft rides through March 2025 Welcome bonus Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠. Annual fee $550 Intro APR None Regular APR 22.49% - 29.49% variable Balance transfer fee 5%, minimum $5 Foreign transaction fee None Credit needed Excellent Terms apply. Read our Chase Sapphire Reserve® review. Who the United Club Infinite Card is best for The United Club℠ Infinite Card is a solid choice for regular travelers with good to excellent credit who are loyal to United Airlines and its many Star Alliance partners. It's a great pick for anyone who can budget for the $525 annual fee, especially those who plan to take advantage of the many benefits it offers, such as complimentary United Club lounge access and up to two free checked bags. Keep in mind that because this is a Chase card, you may end up having to deal with the infamous Chase 5/24 rule — in other words, you won't get approved for any new Chase cards if you've already gotten approved for five or more personal credit cards within the last 24 months. Bottom line The United Club℠ Infinite Card is a solid travel credit card, perfect for anyone who enjoys flying with United Airlines, spending time in United Club lounges and checking one or two bags when they fly. The card offers a lucrative 80,000-mile welcome bonus, flexible spending categories, a number of benefits to enhance your overall travel experience and comes with a sleek design. Before you apply for a new credit card, be sure you have room in your budget for the annual fee and enough purchases coming up to get you past the $5,000 spending threshold to get the welcome bonus. Without a sturdy budget, picking up a shiny new credit card could potentially lead to a financial disaster if you end up spending outside of your means. Catch up on Select's in-depth coverage of personal finance, tech and tools, wellness and more, and follow us on Facebook, Instagram and Twitter to stay up to date. For rates and fees of the Platinum Card from American Express, click here. 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/earn-up-to-80000-miles-united-airlines-credit-card-bonuses/

URI

United Rentals

Earn up to 80,000 miles with these two new United Airlines credit card welcome bonuses

The offers mentioned below for the United Quest℠ Card and the United Gateway℠ Card is no longer available. Starting June 14, two United Airlines credit cards are offering raised welcome bonuses to help you start the summer travel season off right. The promotion is the latest part of a wave of new credit card offers geared toward travelers looking to earn points and miles and cash them in to save on future trips. With airline fares soaring, this extra incentive to take out a new credit card comes at a good time. Here's what you need to know about the new United Airlines credit card welcome bonuses, plus how to maximize your United MileagePlus miles when it's time to redeem them for travel. Subscribe to the Select Newsletter! Our best selections in your inbox. Shopping recommendations that help upgrade your life, delivered weekly. Sign-up here. United's two new welcome offers The United Quest℠ Card and the United Gateway℠ Card are each offering elevated welcome bonuses for new cardmembers. Those looking to sign up for the United Quest Card can earn 80,000 bonus miles after spending $5,000 within the first three months of opening their account. Note that current cardholders and those who have already received a new cardmember bonus for any United Quest Card in the last 24 months are not eligible for the new welcome offer. With the United Gateway Card, new cardholders can earn 30,000 bonus miles after spending $1,000 within the first three months of card membership. They'll also be able to start with an introductory 0% APR on purchases for the first 12 months from account opening (after, 17.99% - 24.99% variable APR). Note that the welcome offer is only available to those who aren't already cardholders and who haven't received a new cardmember bonus for this card in the last 24 months. While both cards let you earn United MileagePlus miles, each offer very different benefits and are designed for different types of travelers. Here's what you get with the United Quest Card The United Quest Card is geared more toward frequent travelers. On top of the sizable 80,000-mile bonus after spending $5,000 within the first three months of opening their account, new cardholders will also receive the following valuable travel benefits: Annual United Airlines statement credit of $125 each anniversary to reimburse you for United purchases made that year Two 5,000-mile anniversary award flight credits (up to twice a year), which puts 5,000 United miles back in your account when you book award flights with United or United Express Complimentary first and second checked bags, worth a value of up to $320 round trip Priority boarding for the cardholder and their companions $100 statement credit every four years to use for Global Entry, TSA PreCheck® or NEXUS Additional hotel benefits such as daily breakfast for two, room upgrades (based on availability), early check-in and late check-out (based on availability) and a special amenity worth $100 when you stay at properties within Chase's Luxury Hotel & Resort Collection Premier seat upgrades on award tickets 25% back via statement credit for inflight purchases made while flying with the carrier Comprehensive travel insurance including auto rental collision damage waiver for rental cars, trip cancellation and interruption insurance, plus travel and emergency assistance Access to Visa Signature ® Concierge Service and exclusive culinary, entertainment and sporting events Concierge Service and exclusive culinary, entertainment and sporting events No foreign transaction fees By spending with their card, cardholders can also earn: 3X miles per dollar on all purchases with United Airlines (after the $125 statement credit) 2X miles per dollar for all other travel-related charges, including flights, train rides, local transit, cruises, car rentals, hotel stays, ride-share services and tolls, among others 2X miles per dollar on dining, as well as certain delivery and streaming services 1X mile per dollar for all other purchases made with the card Lastly, the United Quest Card comes with a moderate $250 annual fee, which is pretty reasonable considering the welcome bonus alone is worth roughly $800 (at a 1 cent per point valuation). Here's what you get with the United Gateway Card While the United Gateway Card is a bit of a step down from the United Quest Card, it still packs a punch for United flyers who don't want to pay an annual fee. New cardholders can earn the decent 30,000-mile bonus after spending $1,000 within the first three months of card membership, plus an introductory interest-free period. They'll receive the following travel benefits: 25% back via statement credit for inflight purchases made while flying with the carrier Additional hotel benefits such as daily breakfast for two, room upgrades (based on availability), early check-in and late check-out (based on availability) and a special amenity worth $100 when you stay at properties within Chase's Luxury Hotel & Resort Collection Comprehensive travel insurance including auto rental collision damage waiver for rental cars, trip cancellation and interruption insurance, plus travel and emergency assistance Access to Visa Signature Concierge Service and exclusive culinary, entertainment and sporting events No foreign transaction fees By spending with the card, you'll be able to earn: 2X miles per dollar on United purchases, including tickets, baggage fees and Economy Plus® as well as inflight food, beverages and Wi-Fi 2X miles per dollar spent at gas stations and on local transit and commuting, including taxi rides, trains, tolls, mass transit and other ride-sharing services 1X miles per dollar for all other purchases Lastly, the United Gateway Card has no annual fee, making it a great pick for anyone who wants to earn United MileagePlus miles without any overhead. As you're earning miles, keep these 3 things in mind United Airlines has a wide route network that includes 210 destinations within the U.S., making it easy to fly nearly anywhere within the 50 states, as well as 120 destinations internationally. As you're earning United MileagePlus miles on your purchases, keep these three factors in mind, especially when it's time to redeem them. 1. You can redeem miles with United's Star AllianceTM partners When you're searching for flights on United's website, you may end up coming across some that are offered by other carriers. The airlines you'll see listed are part of United's Star Alliance, a network that United Airlines is a member of. With 26 total airlines, you'll have the ability to redeem your United miles for flights with partner carriers such as Air Canada, Air New Zealand, Egyptair, Lufthansa, Singapore Airlines, South African Airways, SWISS, TAP Portugal and Turkish Airlines, among others. This alliance with other airlines makes earning United MileagePlus miles a great value for those who enjoy traveling abroad. 2. You can bump up your balance with transferable points If you're enthusiastic about earning United miles, consider also applying for a travel rewards credit card that lets you transfer the points you earn to the United MileagePlus loyalty program. That way, for example, you'll be able to select United Airlines as your Chase transfer partner and redeem those miles with the carrier or any of its partner airlines as described above, depending on your travel needs. Cards such as the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® offer the ability to transfer your Chase Ultimate Rewards® points directly to United MileagePlus at a 1:1 ratio — meaning 1,000 Ultimate Rewards points equates to 1,000 United miles. 3. Your miles can devalue at any time Be aware that airline and hotel loyalty programs can succumb to devaluation at any time. For example, an airline can change a specific route from 40,000 miles to 50,000 miles at the flip of a switch, making your miles less valuable without any notice. This actually happens quite regularly as travel brands try to mitigate the risk of consumers redeeming too many miles within a short period of time. Because there's always a chance of this happening, it's best to redeem miles quickly but efficiently. Now, that's not to say you should waste them on items such as gift cards or retail merchandise as your miles are then valued well below what they'd be worth if you redeemed them for flights. Just try not to sit on them for too long or you may encounter an unfortunate devaluation. Bottom line 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/2024/01/19/biggest-stocks-to-watch-on-friday-analysts-say.html

URI

United Rentals

Here are Friday's biggest analyst calls: Nvidia, Netflix, Apple, Starbucks, Marvel, Coinbase, IBM, Amazon & more

Here are the biggest calls on Wall Street on Friday: Stifel upgrades Silk Road Medical to buy from hold Stifel said in its upgrade of the medical device company that it likes management's vision. "Last week, at a major competitor healthcare conference, newly appointed CEO McKhann spoke publicly for the first time. McKhann articulated, even at this early stage, a compelling vision for getting the SILK story back on track, and thoughtfully addressed investor concerns." Goldman reinstates Broadcom as buy Goldman reinstated coverage of the stock and says it's well positioned for AI. "In short, we expect 1) strong double-digit revenue growth in the company's AI-related businesses (i.e. high-speed Networking and custom compute), 2) a cyclical recovery in Broadcom's classic Semiconductor business (which is over-indexed to Enterprise spending)." Goldman Sachs upgrades Fiverr to buy from neutral Goldman said the Israeli online marketplace is well positioned for AI. "Since FVRR launched dedicated AI services in January 2023, they have seen the number of AI-related gigs has increased over tenfold, and buyer searches for AI increased over 1,000% as of 1Q23 compared to six months prior." Raymond James names Nvidia a top pick Raymond James said the company is well positioned for AI in 2024. " NVDA' s dominant position in Gen AI infrastructure is unlikely to be challenged in the near term." Stifel upgrades DraftKings to buy from hold Stifel said the stock is "compelling." "Upgrading DKNG to Buy; Finally Time to Take the Over, as Short-Term Headwinds Distract from a Compelling '24 Setup." Bank of America reiterates Amazon as buy Bank of America said it's standing by its buy rating on Amazon shares. "Margin growth appears to be a core thesis for the stock, with investors asking on North America retail margin drivers, estimates & drivers for Int'l margins, and potential risks to continued margin expansion in 2024. Bank of America downgrades Celsius to neutral from buy Bank of America says it sees "uncertainty to sales momentum" for the energy drink company. "We are downgrading shares of Celsius Holdings (CELH) from Buy to Neutral, maintaining our $65 PO." Loop reiterates Netflix as buy Loop said Netflix's "dominance is becoming even clearer." "We reiterate our Buy on NFLX and raise our price target to $535 from $500. The rationalization of the streaming industry is starting and NFLX's dominance is becoming even clearer." Deutsche Bank names Starbucks a top pick Deutsche says it sees an improved same-store sales environment for Starbucks in 2024. "We believe the weakness in US SSS [same-store sales] in recent months is in part due to idiosyncratic factors and think efforts to bring back lapsed customers with increased (and relatively rich) promotional activity and new news to shift the narrative will gradually support an improvement in SSS and sentiment." UBS upgrades Texas Instruments to buy from neutral UBS said in its upgrade of the stock that it sees "cleaner comps." "We upgrade TXN as we believe it should be among the first to see orders inflect higher given less reliance on distribution (i.e. for TXN there is very little lag time between orders and revenue turning higher) and TXN also has cleaner comps and fundamentals as it was one of the few companies not to employ supply agreements during the peak." Barclays downgrades Nokia to underweight from equal weight Barclays said in its downgrade of the stock that it sees better value elsewhere. "We see investors' capital better deployed elsewhere in the sector and downgrade both Ericsson and Nokia to Underweight." Oppenheimer initiates Builders FirstSource as outperform Oppenheimer said the building products company is "best-in-class." "We are initiating coverage of Builders FirstSource (BLDR) with an Outperform rating and $220 price target." Morgan Stanley names ASML a top pick Morgan Stanley said the chipmaker is well positioned in a semis recovery. "We are moving ASML to top pick in our universe of European technology hardware names. This is based on our growing belief in a recovery in the semis equipment spend cycle best measured by an improving order book for ASML." Citi downgrades Blackstone and Carlyle to neutral from buy Citi downgraded several alternative asset managers on Friday and says it sees a more balanced risk/reward. "But after rolling price targets to 2025, we are downgrading BX and CG to Neutral from Buy as we see more balanced risk/rewards at current levels after strong finishes for both stocks in 2023 and we look to have a more balanced ratings distribution across our alts. coverage." BMO reiterates Block as a top pick BMO says it's bullish on the stock in 2024. "Nothing has fundamentally changed for SQ YTD, and we are bullish on the set-up for shares heading into 4Q and SQ's valuation offers potential downside support with shares trading at non-GAAP P/E ~15x with > 30% prospective EPS growth in 2026E. SQ remains a top pick for 2024." Citi names Marvel a top pick Citi said it likes the setup for shares of Marvel. "We move Buy rated MRVL to #1 as we like the stock setup in 2024 on continued AI optics growth..." Citi reiterates Coinbase as neutral Citi said it sees too many risks for Coinbase's business model right now. "We remain Neutral/High-Risk purely on regulatory risk, given any potential ruling can have significant impact on the company's future business model." Oppenheimer upgrades AT & T to outperform from perform Oppenheimer said headwinds have become tailwinds for AT & T. "T has underperformed the market and peers the past few years as the company underwent a difficult transition to position itself as a pure connectivity provider. We believe these headwinds have moved to the rearview, and the stock is set to benefit from a number of tailwinds." Bank of America names United Rentals a top pick Bank of America named the equipment company a top pick and says it sees a rerating in 2024. "Top picks are URI (Buy) - re-rating story, flex capex." Bank of America upgrades Teekay Tankers to buy from neutral Bank of America upgraded the tanker stock due to "rising rate upside." "We raise our rating on crude tanker Teekay Tankers (TNK) to Buy (from Neutral) and raise our PO to $72 from $56, based on 3.2x EBITDA, given rising rate upside as global shipping fluidity deteriorates." Evercore ISI upgrades IBM to outperform from in line Evercore said in its upgrade of the stock that it's well positioned for AI. "We are upgrading IBM to OP with a $200 Target Price as we think IBM is well positioned to benefit from a host of tailwinds in CY24 and beyond driven by a combination of Enterprise IT spend improving to drive productivity and AI centric tailwinds that could drive upside to consulting and software segments overtime." Evercore ISI adds a tactical outperform on Apple Evercore said it's standing by Apple heading into earnings on Feb. 1. "We think Apple should be able to report modest upside to Dec-qtr and guide March qtr in the zip-code of street expectations – gross-margins could be a wild card in march-qtr, street is modelling GMs flat in March q/q." Janney initiates Shoals as buy Janney said it sees an attractive entry point for the solar company. "We are initiating coverage of Shoals Technologies Group, Inc. (SHLS) with a BUY rating and $20 Fair Value." HSBC downgrades Discover to hold from buy HSBC downgraded Discover following a softer earnings outlook. "Downgrade to Hold rating as earnings outlook softens." Deutsche Bank initiates Motorola Solutions as buy Deutsche initiated coverage of the stock with a buy and says it has "safety in focus, with a unique balance of growth/profitability." "We initiate coverage of Motorola Solutions (MSI) with a Buy rating and $350, 12- month price target." Jefferies downgrades Hertz to hold from buy Jefferies said in its downgrade of the rental company that it sees too much uncertainty. "Moving to the Sidelines: EV Issues HERTZ Near- Term Profitability."

https://www.cnbc.com/2021/08/10/an-auto-rental-shortage-sparked-a-boom-in-peer-to-peer-car-sharing-.html

URI

United Rentals

An auto rental shortage sparked a boom in peer-to-peer car-sharing. Entrepreneurs are hopping on the trend

Jordan Siemens | Stone | Getty Images When the coronavirus pandemic put a halt to nearly all travel, Anwar Ali was forced to store a fleet of cars he rents out through car-sharing platform Turo in an unused gym in Kauai, Hawaii. Now, his company, Ali'i Rental Cars, is booked solid for the month and has a waitlist. And that's even after adding 20 cars to his fleet, as travel demand rebounded and tourists discovered traditional auto rental places were booked solid. In the Atlanta and Chicago area, car-share hosts have similar stories. Tatiana Pisarski, a Turo host in Charlotte, North Carolina, said she has rental requests two to three times a week. This year's bookings are more than the last three years combined, she said. In June, she felt confident enough to order a Tesla Cybertruck, and plans to rent it when it's eventually delivered by the dealer. The lack of readily available reservations from the big car rental chains this summer as well as a desire for a unique rental experience are factors prompting travelers to turn to car-sharing platforms such as Turo and GetAround. In response to the higher demand, some car-sharing hosts are doubling down on their businesses by expanding their fleets. Some are finding success by providing customers with a personal touch that isn't possible for Hertz , Enterprise and other big chains. "As summer travel surges, Turo has emerged as a critical platform supporting both increased consumer demand and entrepreneurial opportunity," said Turo's CEO, Andre Haddad, in July. "With traditional rental car companies having limited inventory and charging sky-high rates for the cars they do have, our hosts have been able to capitalize on this moment in time, building thriving businesses by listing their personal cars on Turo, and scaling their businesses to serve their goals." On Monday, the Daimler -backed company confidentially filed paperwork with regulators for an initial public offering in the United States. A pop-up ad sparks an idea Ali was working as a youth pastor and his wife was expecting their first child when he listed a 1998 Isuzu Rodeo on Turo. Within 24 hours, the car, which he had nicknamed Ruby, was booked for the week. It was the family's second car, and living in Lihue, a hot spot for tourism on the Hawaiian island of Kauai, he had hoped he would make a little extra money. Ali heard about peer-to-peer car-sharing through a pop-up ad on Mint. It was just the minimal capital business opportunity he was looking for. Other businesses he had considered needed a lot of capital to start. With this, he took an underutilized car he already owned, and made $200 on his first transaction. Soon he added the couple's other vehicle to the platform and that income paid for the family's housing for the month. Now, seven years later, Ali said he made five figures during the first quarter of 2021. Based on his current reservations through the end of the year, he projects he will make well into six figures. He broke ground this spring on his family's new home in Kauai. He also plans to roll his profits from his car-share business into an Airbnb property. For those looking to crack into the peer-to-peer car-sharing. Not all, platforms are the same. Customers at rival platform GetAround often don't own a car, but need a vehicle to run an errand or pick up an oversized item in the neighborhood. These customers may only rent the vehicle for a few hours or the day. Customizing the rental Turo customers tend to look for a unique car-sharing experience rather than the usual pick up at an airport terminal. Hosts may receive requests to drop off a vehicle at a hotel, or they may be looking for a very specific type of vehicle. When DeAnthony Hill rented a Tesla Model X for his son's eighth birthday, host Pisarski put the falcon-wing doors in the up position for an extra birthday surprise when she delivered the vehicle to Hill in Charlotte, North Carolina. There's also an increasing number of bookings for car-share customers who are interested in buying an electric vehicle but unsure if it fits their lifestyle. They can rent a Tesla S, for example, for a week to test out their commute and see how quickly it recharges. While EV charging stations are becoming more mainstream at office buildings and public parking lots, there still can be recharging anxiety. Car-share host Ryan Hagler uses Turo to provide what he calls "a luxury car rental experience." His seven-car inventory includes a Mercedes Benz C300, a Land Rover Defender 110 and several Teslas. "I was initially just a fan of the site five or six years ago," he said, explaining how he started his business, Aloha Luxury Car Rental. Then, he had an idea: "Wouldn't it be cool to have some nice luxury cars and rent them on this platform because then I can have a luxury car that I would normally never buy for myself. And then I can drive it, and make some money on it — or at least pay for it." Before starting his car-share business, Hagler owned a coffee shop franchise with multiple locations in Portland, Oregon. He sold the business in 2018, took a year off and moved back to Maui, where he had met his wife 20 years ago. Logo for Getaround peer-to-peer car sharing service on the side of a car in the Silicon Valley town of Mountain View, California, August 24, 2016. Smith Collection/Gado | Archive Photos | Getty Images Hagler began testing out Turo by renting out a Tesla he bought for his wife in 2019. He hired someone to help run the day-to-day business so that he could rent out cars and get a sense of the business' overhead, while traveling. But then Covid hit, and travel — for himself included — was put on hold, and he briefly sidelined the business. In October 2020, he restarted it, and gradually ramped up the number of vehicles he rents. "For now, this is proof of concept for one location," Hagler said. "I plan to eventually have 15-20 EVs as 80% of my inventory and the remaining 20% hybrid vehicles. … Our mission is to get into a facility that is fully solar powered. My goal was to make $1,000 of profit, per vehicle, per month." In June, Aloha Luxury Car Rental was 95% booked and made between $1,500 and $2,000 a month in profit per vehicle. Hagler's inventory in May was more than 30 days booked out, but in July the pace slowed to about 10 days out, as new people joined the Turo platform, Hagler said. His expenses also rose as he leased a lot to park the vehicles and added the equivalent of one full-time employee. Rental rates for car shares fluctuate due to several marketplace factors, including what level of insurance coverage the user chooses and the length of rental. GetAround works with Apollo Underwriting, while Turo has a deal with Liberty Mutual for insurance. Travelers renting through a car-share service will note that some vehicles allow for unlimited mileage, while others may have a daily or weekly mileage limit. While tourist demand for car rentals has coaxed some to try these services, GetAround said its core business remains customers looking to replace car ownership and rent cars when needed. "We're definitely benefiting from the uptick in travel ... but because we have both use cases (travel and everyday utility use), we see success on both sides of the equation," said Pat Notti, GetAround's vice president of marketplace and operations. watch now

https://www.cnbc.com/2024/02/13/healthy-returns-higher-medical-costs-are-pinching-cvs-unitedhealth.html

UNH

UnitedHealth Group

Healthy Returns: Higher medical costs are pinching insurers

Good afternoon! Health insurers are feeling the squeeze as older patients head to the doctor more than expected. CVS, which owns health insurer Aetna, on Wednesday slashed its full-year profit outlook, citing the potential for higher medical costs to bite into its profits. That warning came two weeks after insurance giant Humana cited the same factor as it issued a dismal 2024 earnings guidance. Medical costs from Medicare Advantage patients have spiked over the last year as more older adults return to hospitals to undergo procedures they had delayed during the Covid pandemic, such as joint and hip replacements. Medicare Advantage, a type of privately run health insurance plan contracted by Medicare, has long been a key source of growth and profits for the insurance industry. More than half of Medicare beneficiaries are enrolled in such plans, enticed by lower monthly premiums and extra benefits not covered by traditional Medicare, according to health policy research firm KFF. But investors have become more concerned about the runaway costs, which insurance companies say may not come down anytime soon. Other companies in the Medicare Advantage space are UnitedHealth Group and Elevance Health. CVS executives said on an earnings call Wednesday that the company's insurance division saw slightly higher rates of outpatient care, including hip and knee surgeries, in the fourth quarter. They also saw more use of supplemental benefits such as dental and vision care, and "some pressure" from RSV vaccinations. The executives said inpatient care, or formal hospital admissions, was in line with the company's expectations for the period. The insurance segment's medical benefit ratio — a measure of total medical expenses paid relative to premiums collected — increased to 88.5% for the fourth quarter from 85.8% during the year-ago period. A lower ratio typically indicates that the company collected more in premiums than it paid out in benefits, resulting in higher profitability. Last month, Humana said it saw an even bigger jump in medical costs in the fourth quarter. The company said the increase came partly from higher outpatient activity, but the company largely blamed it on an unexpected increase in inpatient care in November and December. That pushed its medical benefit ratio in its insurance segment to a whopping 91.4% for the quarter, up from 87.4% for the same period a year ago. Higher medical costs may be a larger problem for Humana than they are for CVS and other insurers. That's because Humana is more dependent on its Medicare Advantage business than its rivals, as it accounts for more than 80% of its earnings, UBS analysts said in a Jan. 25 note. They added that there is no other part of Humana's business that could meaningfully dampen the hit from higher medical costs on the insurance side. Humana has a specialty pharmacy segment called CenterWell, but it only brought in roughly a fifth of the revenue that the company's insurance division booked for the fourth quarter. Meanwhile, CVS has a retail pharmacy business and a health services segment, both of which posted stronger-than-expected revenue for the quarter. Another insurance giant that has been seeing higher medical costs, UnitedHealth Group, also has large health-care services and pharmacy operations that diversify its earnings streams. The bigger question for all three companies is how exactly a new policy called the "two-midnight rule" will impact their insurance businesses. Starting this year, Medicare Advantage plans have to cover their members' hospitalizations at the higher inpatient rate if their doctors predict they'll have to stay beyond two midnights. That policy has applied to traditional Medicare plans for nearly a decade.

https://www.cnbc.com/2023/04/14/stocks-moving-big-midday-ba-jpm-unh-rivn.html

UNH

UnitedHealth Group

Stocks making the biggest moves midday: Boeing, JPMorgan, UnitedHealth, Rivian and more

A Boeing 737 MAX 8 sits outside the hangar during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington. Check out the companies making the biggest moves midday: Boeing — Shares dropped 5.56%. On Thursday, Boeing warned it will have to pause some deliveries of its 737 Max plane due to a problem with parts made by a supplier, Spirit AeroSystems. Shares of Spirit AeroSystems sank 20%. JPMorgan Chase — Shares soared 7.55% after the bank reported record first-quarter revenue thanks to higher interest rates. Revenue came in at $39.34 billion, topping analysts' estimate of $36.19 billion, per Refinitiv. Adjusted earnings per share was $4.32, compared to the $3.41 per share expected. Citigroup — The bank's stock added 4.78% after the company reported rising net income and a revenue beat for the first quarter. Citigroup posted $21.45 billion in revenue, compared to the $19.99 billion expected, according to Refinitiv. UnitedHealth — The health insurance provider's stock fell 2.74% on investor concerns over how some 2024 policy changes will impact Medicare Advantage plan profits in the near term. The decline in shares came even after UnitedHealth surpassed estimates on the top and bottom lines and boosted its full-year outlook. Hello Group — The Chinese entertainment stock popped 4.81% following an upgrade to overweight from neutral by JPMorgan. The firm said the company could benefit from improvements in live streaming in China. BlackRock -- Shares of the investment management company advanced 3.07% after it reported first-quarter adjusted earnings per share of $7.93, topping the estimate of $7.76 per share from analysts polled by Refinitiv. Revenue was $4.24 billion, in line with expectations. PNC Financial Services — The bank's stock slipped 1.8% midday but ended slightly higher at 0.36%. PNC provided guidance for fiscal year 2023 of 4% to 5% of revenue growth year over year, down from its prior guidance of 6% to 8%. PNC's earnings per share for the first quarter topped estimates, but revenue was slightly below expectations, per Refinitiv. Lucid — Shares of the EV maker dropped 6.3% after the company reported underwhelming first-quarter deliveries. Lucid produced 2,314 Air sedans, but delivered only 1,406 of them. Rivian — Shares of the electric vehicle maker pulled back 6.89% in midday trading on Friday. Piper Sandler downgraded the stock to neutral from neutral earlier in the day, and said the company needs more cash. The new price target now only represents marginal upside for Rivian stock. Piper Sandler added that they still like Rivian's strategy of pursuing vertical integration for its vehicles. VF Corp — The parent company to apparel retailers like Vans and The North Face rose 3.02%. Goldman Sachs upgraded the shares, citing the company's latest strategic moves as potential boosts to the stock. Thanks to VF's strong management strategy and new products, the stock can jump more than 23%, Goldman said. Catalent — Shares sank 26.84% after the biotech company warned about productivity issues and higher-than-expected costs at three of its facilities that will materially impact its fiscal third-quarter earnings results. — CNBC's Alex Harring, Samantha Subin, Tanaya Macheel and Brian Evans contributed reporting.

https://www.cnbc.com/2019/04/29/cramer-remix-how-medicare-for-all-would-impact-unitedhealth-group.html

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UnitedHealth Group

Cramer Remix: What "Medicare for All" would mean for UnitedHealth Group

More and more Democratic presidential hopefuls are adopting a single-payer health care stance, which could be devastating for any player in the health insurance business, CNBC's Jim Cramer said Monday. Following the lead of Bernie Sanders, the independent Vermont senator who is one of the biggest mouthpieces advocating for "Medicare for All," about eight candidates in the Democratic Party's crowded field support the idea in some form, Cramer noted. People may not be willing to pay for policies offered by UnitedHealth Group , the largest player in the space, and other firms if they are eligible for Medicare, he said. "So that's what's at stake here: 'Medicare for All' versus a problematic system that has allowed UNH, Anthem , Humana , and the now-acquired Cigna and Aetna to make fortunes," the "Mad Money" host said. "Those stocks have all been terrific performers since Obamacare went into law." While there are some good reasons out there for a single-payer system, Wall Street knows it would hurt the current state of the industry, Cramer said. Still, there is not unified support for the program among centrist Democrats as there is in the left-wing faction. But health care companies are growing more defensive as "Medicare for All" has become more popular among some voters. Health care investors worry that a wave election could give the White House to one of the more left-wing Democratic candidates, and that the party would win majorities in both the House and the Senate. Cramer pointed out how UnitedHealth Group's stock tumbled from $246 to nearly $208 after Sanders, who is vying for the Democratic nomination to take on President Donald Trump in 2020, laid out his universal health-care plan earlier this month. The worst-case scenario for UnitedHealth, Cramer said, is that the stock could collapse to $145. The stock has since mustered back above $237 since reporting a profit beat in the first quarter and raising its 2019 earnings forecast nearly two weeks ago. "Honestly, if UNH pulls back to post-earnings low, though, around $208, you know what, I'd say start buying. And then 10 percent below, I bet it bottoms. I think that's gonna turn out to be a fantastic investment," Cramer said. "Unless you believe Elizabeth Warren or Bernie Sanders will win the nomination and then take the White House ... I'm betting the managed care stocks will end up doing just fine." "I say stop the panic. These stocks may be closer to a bottom than Wall Street thinks." Get Cramer's full insight here

https://www.cnbc.com/2024/02/26/palo-alto-rises-alphabet-sinks-plus-latest-on-wells-fargo-broadcom.html

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UnitedHealth Group

Palo Alto rises while Alphabet sinks — plus the latest on Wells Fargo, Broadcom and Apple

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. (We're no longer recording the audio, so we can get this new written feature to members as quickly as possible.) Stocks pulled back as bond yields marched higher after a couple of weaker Treasury auctions. Monday's declines come after the S & P 500 gained more than 1% last week and closed at a new all-time high. PANW surges: We added to our position in Palo Alto Networks Monday morning following our big push last week and at Saturday's Annual Meeting , and the stock has instantly rewarded those who caught it with a double-digit percent move at one point. We don't see any specific catalyst behind this surge, other than investors realizing its platformization strategy will accelerate market share gains. The recent cybersecurity attack on UnitedHealth Group-owned Change Healthcare was further proof that even the largest companies in the world are vulnerable to outside threats. With Monday's gains, Palo Alto Networks has recovered almost half of its post-earnings selloff. Alphabet struggles: But Google's parent company weighed on the portfolio, with shares down more than 4% at one point on concerns about its AI offerings. It always seems like Alphabet 's AI initiatives keep taking one step forward and two steps back, with the latest blunder involving image generation for its Gemini AI model, the company's answer to OpenAI's ChatGPT. In a note from Melius Research, analyst Ben Reitzes argued the stock at 21 times earnings is "cheap for a reason." Adds Jim Cramer: "Ben Reitzes at Melius raises lots of negatives about Google that can be summed up as a lack of discipline, which is why it is the worst of the Super Six." The Super Six are Amazon , Apple , Alphabet, Meta Platforms , Microsoft , and Nvidia . Wells Fargo speaks: Shares of Wells Fargo made a new 52-week high earlier before giving back its gains as part of the broader market dip. Still, the bank's shares fared much better than the broader financials sector Monday. The bank's CFO Michael Santomassimo spoke at the UBS Financial Services Conference, and one of his more closely watched updates was a reiteration of the company's outlook that net interest income will decline 7% to 9% in 2024. We think there's room for upside to this guide since it incorporates six rate cuts and it's highly likely we'll see less than that. However, Santomassimo reminded the room that there are a lot of factors that go into the guide. Quick hits: "Broadcom is all about selling things they got with VMware that they don't need. This is just one," Cramer said. Broadcom struck a deal Monday to sell its End—User Computing division to KKR for $4 billion. "Buffett's cash hoard may be a factor of an unwillingness to get involved in anything that's still down. I wonder if he is selling Apple right here" Cramer added. "His lack of discussion of it made me feel that's the case." Later: The big earnings reports after the closing bell are Unity , Zoom Video , and Workday . One report before the opening bell on Tuesday that we'll be closely monitoring is Lowe's . While we already got a glimpse into the home improvement landscape last week with Home Depot , Lowe's will provide a slightly different view due to its higher exposure to the do-it-yourself (DIY) customer. "Lowe's could be a catalyst that makes it worth buying Stanley Black & Decker with that yield protection," Jim said. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. Alphabet CEO Sundar Pichai walks to lunch at the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on July 12, 2023. David Paul Morris | Bloomberg | Getty Images

https://www.cnbc.com/2024/02/21/walgreens-earns-a-unwanted-title-as-its-booted-from-the-dow-whats-behind-the-decision.html

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UnitedHealth Group

Walgreens earns an unwanted title as it's booted from the Dow for Amazon. How it happened

Well, that didn't last long. Walgreens has the dubious distinction of being one of the stocks that has had the shortest duration in the Dow Jones Industrial Average. The announcement Tuesday that Amazon would replace Walgreens Boots Alliance in the 30-stock index on Monday following Walmart's decision to split its stock 3-for-1 was not entirely unexpected. At $22, Walgreens has the lowest stock price in the index, which traditionally would make it a target for replacement. And Amazon had been speculated to be an add for several years, following its decision in 2022 to split its stock 20-for-1 . Unclear criteria In case you're wondering, both the Dow Jones and S & P indexes have a committee that meets regularly to decide on any changes. What criteria do they use to add or delete a stock? It's pretty fuzzy. The Dow Jones Average Methodology paper says that, "While stock selection is not governed by quantitative rules, a stock typically is added only if the company has an excellent reputation, demonstrates sustained growth and is of interest to a large number of investors." That's pretty fuzzy. Even less clear: "Changes to the indices are made on an as-needed basis," the methodology paper says. "There is no annual or semi-annual reconstitution." The criteria gets a big firmer here: "Rather, changes in response to corporate actions and market developments can be made at any time." There seems to be two issues that were sufficient "changes in corporate actions" that allowed the index committee to take action. First was price. Since the Dow indices are distinguished from the S & P indices because the Dow is price weighted, the price criteria gets a bit more specific. "Since the indexes are price weighted, the Index Committee evaluates stock price when considering a company for inclusion. The Index Committee monitors whether the highest-priced stock in the index has a price more than 10 times that of the lowest," it says. That's interesting. Right now, the highest priced stock, UnitedHealth Group , is more than 23 times the value of the lowest priced stock, Walgreens. So it certainly seems like it's time to make a change. And the decision by Walmart to split its stock 3-for-1 would certainly make the index committee more comfortable adding Amazon, since the stock split would mean Walmart would have less weighting in the Dow and it would give the committee room to increase retail exposure. Sector representation is also a factor: "Maintaining adequate sector representation within the index is also a consideration in the selection process for the Dow Jones Industrial Average," the methodology paper states. S & P made a nod to this requirement in its press release, saying that adding Amazon would reflect "the evolving nature of the American economy," and that "this change will increase consumer retail exposure as well as other business areas in the DJIA." Walgreens' short tenure This is another in a string of setbacks for Walgreens. The stock was in the $60s when it was added to the Dow in 2018 . Removal after only six years would make Walgreens one of the companies with the shortest stay in the Dow Industrials. Though it is not stated explicitly, removing stocks after a short period in the indexes goes against the grain of the indexes. As they make clear, changes are made on an as-needed basis, and the Dow Industrials, at least, has always tried to keep change at the minimal. There has only been a little over 60 changes since 1896. WBA 5Y mountain Walgreens stock over the past five years To give you an idea of the aversion to change, there were no changes from March 1939 until July 1956. Index watchers have told me for years that to some degree you need a reason to be removed, compared to significantly larger justification to be put in. Having your stock trade for 23 times less than the highest priced stock in the index is certainly some justification. By the way, in case you're wondering, the record for shortest time in the Dow Industrials appears to be U.S. Rubber. That stock was in the Dow for six months in 1896, then was added back two years later – replacing General Electric. Talk about a convuluted history. In the early days, General Electric was an original in 1896. U.S Rubber replaced GE in 1898. GE was added back in 1899. It was taken out again in 1901. It was added back in 1907. And taken out again in 2018. Guess what replaced GE? Walgreens. Is Uber a transportation stock? Finally, one wonders how Uber executives feel about the decision to put them into the Dow Jones Transportation Index. Uber is replacing JetBlue , which like Walgreens in the Industrials, is now the cheapest stock in the Transports, at $7.01. CNBC's Robert Hum noted that the company specifically identifies as a tech company in its mission statement: "We are a tech company that connects the physical and digital worlds to help make movement happen at the tap of a button." S & P, of course, did not consult Uber prior to adding them. Still, the only other "ground" company in the Transports is Avis, which no one would argue is a "tech" company.

https://www.cnbc.com/2018/03/28/unitedhealth-ceo-tech-will-push-health-care-to-become-value-based.html

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UnitedHealth Group

UnitedHealth Group CEO: In 10 years, tech will push health care to become more value-based

Even UnitedHealth Group's CEO, David Wichmann, acknowledges that the health-care juggernaut might not always have faster growth than that of the United States' gross domestic product. "If you look forward to the future, call it seven, eight, nine, 10 years out, I think you're going to see the real strong implications of technology on helping to curtail health care costs," Wichmann told CNBC in a Wednesday interview with "Mad Money" host Jim Cramer. Speaking from CNBC's Healthy Returns conference, Wichmann envisioned a future where tech advances would streamline health care to the point where the industry would hinge more on value than on profits. "I think the systems of the benefits and the health systems broadly going to more value-based mechanisms will drive greater efficiency and effectiveness in health care," the CEO said. The Minnesota-based UnitedHealth is a giant network of health-care professionals that offers products and insurance plans to millions of U.S. consumers. Wichmann emphasized to Cramer that the company is already working on improving its efficiency by leveraging Optum, its tech-enabled health services business that has a massive bank of data. Wichmann said Optum has "data around 200 million people on the administrative side, and then another 100 million or so in terms of medical records." "That is used by us for A.I., machine learning, advancing ... technologies broadly in health care and making a difference on the predictive values of understanding who may get sick and under what circumstances we need to help them with their care," the CEO continued. Wichmann saw the company's five main focus areas — health care delivery, pharmaceutical services, consumer-centric benefits, digitizing health information and global access — as key drivers in the shift to more efficient health-care services. Admitting that "drug prices are too high," Wichmann pointed to UnitedHealth's efforts to make pharmaceuticals more affordable for everyday consumers through point-of-service discounts. "Over time, I think it'll continue to get greater levels of attention," the CEO said. "We saw yesterday that Aetna also adopted a similar policy and hopefully the rest of the industry finds its way to that same position." Slashing unnecessary costs would also be Wichmann's first course of action if he were given the keys to the entire U.S. health-care system, he told Cramer. "The first thing I'd do is there's about a trillion dollars of cost that's in the fee-for-service system today that's largely unmanaged. There is no question we could do a better job with that in terms of just applying practical, private company practices to that population and I think we'd save a lot there," Wichmann said. "I'd also have everybody kind of get focused on a similar mission and drive a culture to improve health care costs by lowering them, drive greater levels of effectiveness overall and making sure that we are driving a great deal of consumer satisfaction."

https://www.cnbc.com/2024/01/07/earnings-playbook-your-guide-to-the-biggest-reports-this-week-including-jpmorgan.html

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UnitedHealth Group

Earnings playbook: Your guide to the biggest reports this week, including JPMorgan

The earnings season kicks off in earnest this week, with some of the country's biggest banks slated to report. JPMorgan Chase, Citigroup, Wells Fargo and Bank of America are all slated to post their fourth-quarter results. UnitedHealth and Delta Airlines numbers are also on deck. Overall, S & P 500 earnings are expected to have grown by 1.3% during the fourth quarter on a year-over-year basis, according to FactSet senior earnings analyst John Butters. That would be the second straight quarter of earnings expansion. However, Butters noted that analysts made "larger cuts than average" to earnings per share estimates heading into this reporting period. "Given concerns in the market about a possible economic slowdown or recession, have analysts lowered EPS estimates more than normal for S & P 500 companies for the fourth quarter?" Butters wrote Friday. "The answer is yes." Take a look at CNBC Pro's breakdown of what's expected from some of this week's key reports. Friday UnitedHealth is set to report earnings before the bell, with a conference call scheduled for 8:45 a.m. ET. Last quarter: UNH posted earnings and revenue that beat analyst expectations. The company also hiked its full-year guidance. This quarter: Analysts polled by LSEG expect UnitedHealth to report double-digit earnings and revenue growth from the year-earlier period. What CNBC is watching: UnitedHealth's stock posted its first annual loss in 15 years in 2023, losing 0.7%, while the S & P 500 soared more than 20%. Can the health insurance giant recover its mojo? The fourth-quarter may hold some clues. Specifically, investors will keep an eye on guidance around Medicare Advantage enrollment. Shares fell on Friday after CVS said it sees membership growing to at least 800,000 this year. That's up from a forecast for 600,000 additional members. What history shows: Bespoke Investment Group data shows UnitedHealth beats earnings expectations 93% of the time. Shares also average a 0.9% gain on earnings day. JPMorgan Chase is set to report earnings before the market opens. A call is also scheduled for 8:30 a.m. ET. Last quarter: JPM topped earnings expectations thanks to higher rates and lower credit costs. This quarter: JPMorgan earnings are expected to have fallen slightly year over year, but revenue is seen as growing by more than 10%, LSEG data shows. What CNBC banks reporter Hugh Son is watching: "JPMorgan Chase distanced itself from its big bank peers last year, both in share performance and winning the First Republic auction. Investors who wonder if the party can continue will seek guidance on net interest income, expenses and loan losses for 2024." What history shows: JPMorgan Chase beats earnings estimates 82% of the time, according to Bespoke. The stock has also risen in five straight earnings days. Citigroup is set to report earnings in the premarket. Management is slated to hold a call at noon ET. Last quarter: C posted revenue that beat estimates , boosted by strong growth in the bank's institutional client and personal banking businesses. This quarter: The bank's earnings are forecast to have dropped by more than 15% on a year-over-year basis, according to LSEG. What CNBC banks reporter Hugh Son is watching: "The greatest scrutiny this quarter falls on Citigroup, which is in the middle of CEO Jane Fraser's corporate overhaul. Management has said it will disclose severance costs and job cuts along with fourth quarter earnings." What history shows: Citigroup's stock typically struggles on earnings days, losing an average of 0.25%. Shares also fell in the last two earnings days. However, the bank beats earnings expectations 76% of the time, according to Bespoke. Delta Air Lines is set to report earnings before the bell, followed by a call at 10 a.m. ET. Last quarter: DAL reported a nearly 60% year-over-year profit jump , citing a strong summer travel season. This quarter: The airline is expected to report a sharp year-over-year earnings decline but also a 10% revenue increase, per LSEG. What CNBC CNBC airlines reporter Leslie Josephs is watching: "Delta will be first out of the gate with U.S. airline earnings this quarter and we'll be looking for clues whether 2023's robust demand could continue to grow this year, or whether consumers are spent out after the last holiday season. Delta last month reiterated its earnings and revenue forecasts for the fourth quarter and the industry is coming off of a strong and smooth holiday season, so there might not be many surprises there. But executives will face questions about where costs — and fares cover them — are headed this year. Look for clues on Delta's growth and hiring plans for the spring and summer, when carriers make the bulk of their money and high-revenue international travel picks up." What history shows: Bespoke data shows Delta beats earnings estimates 68% of the time. However, shares have fallen on the last four earnings days. Bank of America is set to report earnings in the premarket, with a call slated for 11 a.m. ET. Last quarter: BAC earnings beat expectations thanks to strong interest income . This quarter: LSEG data shows analysts see a 21% year-over-year drop in earnings. What CNBC banks reporter Hugh Son is watching: "For Bank of America, the biggest questions remain its exposure to underwater bonds purchased when interest rates were low. A related question is what to expect from net interest income and expenses this year." What history shows: Bank of America beats earnings estimates 79% of the time, per Bespoke. The stock rose after the last nine reports were released.

https://www.cnbc.com/2024/01/27/quality-stocks-are-dominating-the-market-up-25percent-in-the-past-year.html

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UnitedHealth Group

Quality stocks are dominating the market, up 25% in the past year

Investors have grown a bit snobbish, insisting on buying the highest quality and willing to pay up lavishly to own and flaunt the best. Among the most broadly played investment "factors" — including value, momentum, low volatility, dividend yield — quality has dominated the market, the representative iShares MSCI USA Quality ETF (QUAL) up 25% in the past year, compared to 13% for S & P 500 value and less than 5% for the equal-weighted S & P 500. Even within industry sectors, the stocks with higher quality scores have sped ahead ( Costco in retail, WW Grainger in industrials, etc.). The quality label is based on strong balance sheets, high and steady profit margins, consistency of earnings growth and the like. The category is adjacent to and inclusive of the small group of enormous growth stocks that have led the market for a year, but it's more than just the giants of the Nasdaq. Yes, Nvidia , Microsoft and Apple are top holdings in the QUAL ETF (and numerous similar ones) but so are Visa , Mastercard , Nike and UnitedHealth . As this flavor of stock has gained favor, the S & P 500 itself has taken on more of a quality character over time, something that strategists at Bank of America and Citi have been noting for a while, as they argue index earnings are less cyclical than decades ago and perhaps deserve a higher valuation than used to be the norm. Over the past five years, note the QUAL ETF has been almost indistinguishable from the S & P 500 and from Berkshire Hathaway, a company that exemplifies financial sturdiness and quality business traits. Even this year, with investor risk appetites flowing a bit faster again, large-cap quality as a whole is ahead of the broader market, and in the first four weeks of trading has outperformed the ARK Invest strategy – a proxy for more aggressive, lower-quality stocks – by 15 percentage points. True, ARK and its ilk raced ahead in the 2023 all-in fourth-quarter rally, a tough setup into the year. But the action so far in 2024 is noteworthy as being a near-total inversion of last January, when ARK whistled higher by 25% in a massive short-covering rebound move that was roundly lamented even if it fit with how the market typically acts right after a bear-market bottom. Too much of a good thing? It might seem twisted to ask whether investors collectively are overdoing it on quality, privileging the clear fundamental long-term winners over the less advantaged. But it's worth pointing out that the premium on quality is arguably becoming extreme, as both bullish economic optimists and bearish recession heralds cluster in the proven growers protected by the widest competitive moats. The quality basket's forward price/earnings ratio is not breaking new ground in absolute terms, near 22 now, but its relative multiple is at a decade high. Something similar applies to Berkshire Hathaway, with its $157 billion in cash on hand, near-6% stake in Apple, multi-generational management team and an array of wholly owned businesses exploiting profitable niches. Enviable all around, though also near the very upper end of the stock's price-to-book-value range of the past 15 years. None of this is irrational, though even rational trends can get overdone at times. Carrying the earnings load The narrowness of the S & P 500's performance – which gave way to a two-month broadening pattern heading into 2024 that has not persisted in a clear way in recent weeks – is best explained not by AI enthusiasm or technology worship but by the contribution of the Magnificent Seven companies to overall earnings. Goldman Sachs calculates that those seven companies as a group had profit-growth forecasts for the fourth quarter revised higher by four percentage points since Sept. 30. The other 493 companies in the index together saw fourth-quarter earnings cut by 16 percentage points. And for the first quarter, FactSet says Alphabet, Amazon, Meta Platforms and Nvidia are projected as a group to report 80% earnings growth, all other companies almost no growth. All of this is about what the quality leaders have done lately, not what sorts of companies represent a better risk-reward equation now. Some disciplined investors are playing for a market less beholden to the acknowledged mega-cap winners. Michael Gates, lead portfolio manager for BlackRock's Target Allocation ETF model portfolio group, initiated a rebalancing away from the QUAL ETF and other growth vehicles areas toward value funds "to reflect a bullish view on the economy and a soft landing." This gets at the fact that the premium on quality is in large part the cost of predictability, which is essentially defensive — a way to pay up for insulation against a tough economic trajectory. Sure, there are multi-year secular growth stories animating the AI innovators and weight-loss-drug developers, but most quality stocks stand out for steadiness. For sure, there have been prior market cycles that peaked spectacularly while saturated with a blind belief that no price was too high to pay for the elite corporate winners. The Nifty Fifty period half a century ago most conspicuously, when a few dozen stocks surpassed 40-times earnings in otherwise weak market. And the late-'90s was infused with blue chip fever too in the final stretch to the year-2000 peak. Yet today, the quality trade seems favored less because investors are overconfident in the companies' eternal growth than as a default choice against a large majority of cheaper cyclical stocks in a period when a recession is always feared as imminent but has yet to arrive. Bubble yet? Last week much attention was paid to Ed Yardeni of Yardeni Research, who is bullish on stocks yet expressed a fear of irrational exuberance and a late-'90s-style bubble-like melt-up potentially emerging. Yet while the Nasdaq 100 is up almost 50% in a year, it's gained only 5% in the last 26 months. In the 18 months leading into the March 2000 peak, the Nasdaq more than tripled. In 1999 alone, there were nearly 500 IPOs, and their average first-day price gain exceeded 90%. We are now in a prolonged IPO drought and the small-cap growth indexes are flat versus three years ago. The simplest explanation for the market holding near the record highs with the S & P 500 up nearly 20% from the low exactly three months ago is that the market is priced for a pretty benign economic backdrop and we keep getting evidence of a very benign one. Big upside surprise to fourth-quarter GDP with further downside momentum in core inflation adds to the well-earned investor confidence in a macroeconomic cushion. Whether the Federal Reserve clearly signals an interest-rate cut in March next Wednesday or not, everything we know about the Fed's policy decision tree and the path of current data leads to at least modest pruning of rates into a solid economy. For sure, stocks have come a good distance and there are some signs of a short-term "mission accomplished" moment. The S & P 500 clicked exactly to 20-times forward earnings last week. Microsoft surmounted the $3 trillion market-cap threshold. Several stubborn Wall Street bears have capitulated with raised index targets to start 2024, sometimes cause for tactical concern. Any give-back of the leading quality growth names wouldn't be easily absorbed by the broader market. We could surely get a sell-the-news response on some of the Mag7 earnings reports in coming days. Or traders might overread some Jerome Powell comments as changing the premise of a friendlier Fed. And February often brings some turbulence to the tape. Yet the crowd's zeal for "quality" stocks, the impressive technical caliber of the rally, the upturn in earnings from last year's trough, overall strategist consensus calling for minimal upside from here and investor sentiment held short of hubris by constant doubt about the durability of the expansion, it's unlikely that the next wobble in the indexes would prove to be the Big One.

https://www.cnbc.com/2022/12/15/unitedhealth-and-more-cnbcs-halftime-report-answers-your-questions.html

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UnitedHealth Group

UnitedHealth, Cameco and more: CNBC's 'Halftime Report' traders answer your stock questions

On Thursday's "Ask Halftime," our traders answered questions from CNBC Pro subscribers about stocks and ETFs during this market volatility, including whether to buy, sell or hold specific names. Jason Snipe of Odyssey Capital Advisors highlighted reasons why he continues to like UnitedHealth Group and why the stock is a solid pick. Blue Line Futures' Bill Baruch emphasized why nuclear is the future and how Cameco is a long-term investment. Finally, Jenny Harrington of Gilman Hill Asset Management talked about Ardagh Metal Packaging 's excellent balance sheet.

https://www.cnbc.com/2015/03/30/unitedhealth-group-to-buy-catamaran-for-1278b.html

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UnitedHealth Group

UnitedHealth Group to buy Catamaran for $12.78B

Catamaran, formed from the merger of SXC Health Solutions and PBM Catalyst Health Solutions in 2012, helps the administrators of group healthcare plans reduce their prescription drug costs. Health insurer UnitedHealth Group unit OptumRx Corp agreed to buy pharmacy benefit manager Catamaran Corp in a deal worth about $12.8 billion. UnitedHealth's offer of $61.50 per share represents a premium of 27 percent to Catamaran's Friday close on the Nasdaq. Catamaran's stock was trading at $60.50 premarket on Monday, while UnitedHealth's was up nearly 3 percent. After the deal, UnitedHealth expects to fill more than one billion prescriptions, the companies said. The deal value is based on Illinois-based Catamaran's total outstanding diluted shares as of Dec. 31. The transaction is expected to close in the fourth quarter of 2015 and add about 30 cents per share to UnitedHealth's profit in 2016, the companies said.

https://www.cnbc.com/2022/09/21/big-businesses-trumpet-esg-credentials-scrutiny-is-on-the-rise.html

UHS

Universal Health Services

Big business likes to trumpet ESG credentials. But a 'greenwashing' reckoning could be on the horizon

In this article AFR-FF AF-FR VALE VALE-BR ULVR-GB Follow your favorite stocks CREATE FREE ACCOUNT As the 2020s progress, discussions about climate change, the environment and issues related to equality and diversity are at the forefront of many people's minds. The corporate world is no exception, with banks, energy producers and a host of other major businesses keen to trumpet their sustainability credentials through advertisements, pledges, social media campaigns and a range of other initiatives. Many of these claims are now viewed through the prism of ESG, or environmental, social and governance. It's become a hot topic in recent years, with a wide range of organizations attempting to boost their sustainability credentials — and public image — by developing business practices which they claim chime with ESG-linked criteria. But here's the rub: Definitions of ESG often vary and are hard to pin down. That, in turn, can create a headache for businesses looking to toe the line with regulators and authorities. Take the situation in the United Kingdom. "One of the major complexities in this area is that there is no single overarching regulation or statute in the UK governing ESG compliance," Chris Ross, a commercial partner at London-headquartered law firm RPC, told CNBC via email. "Rather, there is a patchwork of domestic and international regulation." Those regulations were, he said, "administered by a disparate set of bodies" including Companies House, the Pensions Regulator, Financial Conduct Authority, Environment Agency, Financial Reporting Council and, "in respect of European law, the European Commission." Expanding on his point, Ross described ESG as being "an umbrella term." It covered "a very broad spectrum of considerations, from climate and pollution related issues through bribery and corruption, anti-money laundering, diversity and inclusion … health and safety, to modern slavery," he said. "Developing a universal definition would be practically impossible," Ross added, "and for the foreseeable future companies will need to ensure they are compliant with the range of relevant law and regulation." Scrutiny, bans and penalties Today, companies who label their products or services as being ESG, sustainable or similar are finding their business practices and claims examined in great detail by lawyers, the public, environmental organizations and regulators. At the end of August, for example, an ad from consumer goods giant Unilever for its Persil brand of laundry products was banned by the U.K.'s Advertising Standards Authority. In a detailed ruling, the ASA concluded that the ad, which described Unilever's product as being "kinder to our planet," was "likely to mislead" and "must not appear again in its current form." In a statement sent to CNBC, a spokesperson for Unilever said it was "surprised" by the ASA's decision and that the ad "had been cleared for broadcasting a number of times." "We acknowledge that this decision reflects a recent and important evolution in the ASA's approach to substantiate environmental claims and welcome the new benchmark the ASA is setting for advertisers," the spokesperson added. "Persil will continue to lead bold environmental improvements in the laundry category and provide evidence to support "tough on stains, kinder to the planet" for future campaigns in line with the evolving requirements." Over in the United States, scrutiny of claims about sustainability and ESG is also taking place. In March 2021, the U.S. Securities and Exchange Commission announced the establishment of a Climate and ESG Task Force in the Division of Enforcement, stating that it would "proactively identify ESG-related misconduct." Since its creation, a number of big names have found themselves in the task force's sights, including BNY Mellon Investment Adviser. In May, the regulator announced it had charged BNYMIA for "misstatements and omissions about Environmental, Social, and Governance (ESG) considerations in making investment decisions for certain mutual funds that it managed." The SEC said its order had found that "from July 2018 to September 2021, BNY Mellon Investment Adviser represented or implied in various statements that all investments in the funds had undergone an ESG quality review, even though that was not always the case." "The order finds that numerous investments held by certain funds did not have an ESG quality review score as of the time of investment," it added. The SEC said BNYMIA had neither admitted nor denied its findings, but agreed to a censure, a cease and desist order and payment of a penalty totaling $1.5 million. In a statement sent to CNBC, a spokesperson for BNY Mellon said BNYMIA was "pleased to resolve this matter concerning certain statements it made about the ESG review process for six U.S. mutual funds." "While none of these funds were part of the BNYMIA "Sustainable" fund range, we take our regulatory and compliance responsibilities seriously and have updated our materials as part of our commitment to ensuring our communications to investors are precise and complete," the spokesperson added. This image, from January 2019, shows a rescuer taking a break following the collapse of a dam at a mine belonging to Vale in Brumadinho, Brazil. Mauro Pimentel | AFP | Getty Images It's not just the financial world that has caught the SEC's attention. In April, it charged Brazilian mining giant Vale with "making false and misleading claims about the safety of its dams prior to the January 2019 collapse of its Brumadinho dam." "The collapse killed 270 people" and "caused immeasurable environmental and social harm," the SEC said. Among other things, the SEC's complaint alleges that Vale "regularly misled local governments, communities, and investors about the safety of the Brumadinho dam through its environmental, social, and governance … disclosures." When contacted by CNBC, Vale — which has an "ESG Portal" on its website — referred to a statement issued on April 28. "Vale denies the SEC's allegations," the company said, "including the allegation that its disclosures violated U.S. law, and will vigorously defend this case." "The Company reiterates the commitment it made right after the rupture of the dam, and which has guided it since then, to the remediation and compensation of the damages caused by the event." More greenwashing litigation In June, the Grantham Research Institute on Climate Change and the Environment and the Centre for Climate Change Economics and Policy published the latest edition of a report looking at trends in climate change litigation. It highlighted some key developments. "Globally, the cumulative number of climate change-related litigation cases has more than doubled since 2015," the report said. "Just over 800 cases were filed between 1986 and 2014, and over 1,200 cases have been filed in the last eight years, bringing the total in the databases to 2,002," it added. "Roughly one-quarter of these were filed between 2020 and 2022." The report pointed to growing momentum on the greenwashing front, too. "Climate-related greenwashing litigation or 'climate-washing' litigation is gaining pace," it said, "with the aim of holding companies or states to account for various forms of climate misinformation before domestic courts and other bodies." The debate surrounding greenwashing is becoming increasingly fierce, with the charge often leveled at multinational companies with vast resources and significant carbon footprints. It's a term that environmental organization Greenpeace UK calls a "PR tactic" used "to make a company or product appear environmentally friendly without meaningfully reducing its environmental impact." A continuing trend?

https://www.cnbc.com/2020/09/28/cyberattack-hits-major-us-hospital-system.html

UHS

Universal Health Services

Cyberattack hits major U.S. hospital system

A logo sign outside the headquarters of Universal Health Services, Inc., in King of Prussia, Pennsylvania. A major hospital chain has been hit by what appears to be one of the largest medical cyberattacks in United States history. Computer systems for Universal Health Services, which has more than 400 locations, primarily in the U.S., began to fail over the weekend, and some hospitals have had to resort to filing patient information with pen and paper, according to multiple people familiar with the situation Universal Health Services did not immediately respond to requests for comment, but speaking anonymously, one person familiar with the company's response efforts who is not authorized to speak to the press said that the attack "looks and smells like ransomware." Read more from NBC News: Ransomware is a type of malicious software that spreads across computer networks, encrypting files and demanding payment for a key to decrypt them. It's become a common tactic for hackers, though attacks of this scale against medical facilities aren't common. A patient died after a ransomware attack against a German hospital in early September required her to be moved to a different hospital, leading to speculation that it may be the first known death from ransomware. Hackers seeking to deploy ransomware often wait until the weekend, when a company is likely to not have as many technical staff members present. Two Universal Health Services nurses, who requested to not be named because they weren't authorized by the company to speak with the media, said that the attack began over the weekend and had left medical staff to work with pen and paper. One of the nurses, who works in a facility in North Dakota, said that computers slowed and then eventually simply would not turn on in the early hours of Sunday morning. "As of this a.m., all the computers are down completely," the nurse said. Another registered nurse at a facility in Arizona who worked this weekend said "the computer just started shutting down on its own." "Our medication system is all online, so that's been difficult," the Arizona nurse said. While many patient charts at that facility are on paper, medication information is maintained online, though it's backed up at the end of each day, the nurse said. "We had those up to date as of the 26th," the person said. "Now we had to hand-label every medication," the nurse said. "It's all improv." Subscribe to CNBC on YouTube.

https://www.cnbc.com/2021/04/24/credit-suisse-found-stocks-to-play-the-rebound-but-also-protect-against-inflation.html

UHS

Universal Health Services

Credit Suisse found stocks to play the rebound, but also protect against inflation

A banner run for cyclical stocks has helped to push stock market valuations to lofty levels, leading some to worry that stocks are too expensive just as the United States is moving into a strong growth period. Looking to thread the needle, Credit Suisse strategists searched for defensive stocks that can benefit during the expansion. The firm said in a note to clients on Thursday that U.S. GDP might grow by 8% or more this year, but there are "red flags" that make them cautious about going all in on cyclical stocks. (Cyclical stocks are companies whose prospects are tightly linked to a growing economy.) Instead, the firm looked for defensive plays that should still also perform well in a strong economic environment. "We add to 'cyclical' defensives (i.e. defensives that have some economic sensitivity and appear cheap)," the note said. The firm put together a list of stocks in defensive sectors with positive correlations to rising inflation expectations and outperform ratings from Credit Suisse analysts. The list has a heavy emphasis on stocks related to health care. One major name on the list is Laboratory Corp ., which bounced back quickly from last year's pandemic sell-off as Covid testing emerged as an important source of revenue. The stock is trading more than 30% above where it was last February pullback, and Credit Suisse analysts still see the stock as a buy. Two hospital companies also made the list in HCA Healthcare and Universal Health Services . Hospitals saw their businesses get squeezed last year as many areas banned optional procedures during the height of pandemic in the U.S. HCA's stock was effectively cut in half last February, but the share price has now climbed steadily since October and is about 33% above where it was trading pre-pandemic. It is also well liked on Wall Street, with buy ratings from 78% of analysts, according to FactSet. Universal Health Services, on the other hand, is trading right around where it was last February, making it a significant laggard compared with the broader market. It has buy ratings from 54% of analysts, according to FactSet. One non-health care name on the list is Constellation Brands . The stock's correlation with rising inflation expectations is minor compared to the other names on the list, but it does have the added benefit of a 1.3% dividend yield. Additionally, Credit Suisse said that utilities companies with inflation-linked pricing schemes could be smart defensive plays in a cyclical upturn. Laboratory Corporation of America Holdings (LabCorp) phlebotomist processes a lab sample at a Community Clinic Inc. health center in Silver Spring, Maryland. Andrew Harrer | Bloomberg | Getty Images

https://www.cnbc.com/2015/06/25/health-care-stocks-surge-on-obamacare-ruling.html

UHS

Universal Health Services

Health care stocks surge on Obamacare ruling

Health care stocks such as Tenet and Community Health Systems spiked more than 10 percent after the Supreme Court upheld the use of federal financial aid for more than 6 million people enrolled in Obamacare. Read MoreSupreme Courtupholds federal Obamacare subsidies Click here to see how stocks in the health care industry are reacting.

https://www.cnbc.com/id/100684356

UHS

Universal Health Services

Shoot Me Now: Austerity Is Bad for Your Health

A trader friend of mine messaged me this morning to express his continuing disbelief at the global rally. "There's no respect in the market for macro issues," he said. "No one ever talks about the market going down." He was especially incredulous that investors were buying into the endless central bank stimulus: "If the world is still facing disinflation at one percent interest rates, then why suddenly would we get a huge boost to inflation at one-half percent?" Little wonder that stories about dividend paying stocks floated around all weekend. The second-largest dividend exchange-traded fund, the iShares Trust DJ Select Dividend, is up 13 percent this year, versus 11 percent for the S&P 500. Most of the outperformance has been during the last few weeks. Elsewhere: 1) The big global industrial companies continue the trend: beat on bottom line, miss on topline, affirm earnings. Multi-industry giant Eaton, which makes electrical and power transmission products all over the world, summed up what the year is turning into: "2013 is a year in which our results will depend more on our execution than on global growth," CEO Alexander Cutler said in the company's earnings release. In other words, cost-cutting is still the primary driver of earnings growth. Actual market growth will be on the lower end of expectations: "We continue to believe our markets will grow 2 to 3 percent in 2013, most likely toward the lower end of the range." Regardless: Eaton, like many other multi-industry companies, affirmed its full-year guidance. Here's a rarity: another big industrial raising guidance. Roper (think medical and scientific imaging, energy systems, water and fluid handling pumps, and radio frequency products) also continued the trend of beating on the bottom line, but coming in light on top line. However, it raised the 2013 earnings per share to $5.76 to $5.94 (from $5.60-$5.82). First-quarter orders were up a surprising 9 percent. 2) Europe up, led by Italy, which swore in a new, diverse government. Borrowing costs are down across the board. Italy's 10-year bond fell to 4.09 percent, near a 2.5-year low; the 10-year auction saw an average yield of 3.94 percent, the lowest level since October 2010. 3) Halfway through first-quarter earnings season, blended earnings growth is 3.6 percent; the uncanny revenues are lagging, up 1.4 percent. (Read More: Earnings Preview—Media Companies in the Spotlight) 4) Hospitals rally pre-market after analysts note the government's proposed inpatient hospital payment rates look slightly better than expected for the upcoming fiscal year. A proposal released late Friday calls for a nudge up in payments; the final rule is expected Aug. 1. Tenet Healthcare jumps 6.9 percent after getting upgraded at RW Baird and UBS this morning. UBS also upgraded LifePoint Hospitals and raised its target on Community Health Systems and Universal Health Services. Managed care company Health Net reported better-than-expected first quarter earnings and revenue, and raised its 2013 profit outlook. HNT posted first-quarter EPS of 62 cents, 21 cents higher than the Street's estimate. The company upped its 2013 EPS by 20 cents on the high and low end to between $2.20 and $2.30, versus expectations of $2.07 a share. HNT's lower expenses helped offset declining enrollment. —By CNBC's Bob Pisani

https://www.cnbc.com/2022/06/29/stock-market-futures-open-to-close-news.html

UHS

Universal Health Services

S&P 500 posts worst first half since 1970, Nasdaq falls more than 1% to end the quarter

Stocks fell on Thursday, as the S&P 500 capped its worst first half in more than 50 years. The Dow Jones Industrial Average shed 253.88 points, or 0.8%, to 30,775.43. The S&P 500 slid nearly 0.9% to 3,785.38, and the Nasdaq Composite pulled back by 1.3% to 11,028.74. Thursday marked the final day of the second quarter. The Dow and S&P 500 posted their worst quarter since the first quarter of 2020 when Covid lockdowns sent stocks tumbling. The tech-heavy Nasdaq Composite is down 22.4% for the second quarter, its worst quarterly performance since 2008. The S&P 500 posted its worst first half of the year since 1970, hurt by worries about surging inflation and Federal Reserve rate hikes, as well as Russia's ongoing war on Ukraine and Covid-19 lockdowns in China. "We had the unprecedented pandemic that shut the world down and the unprecedented response, both fiscal and monetary," Stephanie Lang, chief investment officer at Homrich Berg, told CNBC. "It created the perfect storm with regard to surging demand and supply chain disruptions, and now there's inflation that we haven't seen in decades and a Fed that was caught off guard." "Now the market is forced to adjust to this new reality where the Fed is trying to play catch up and slow growth," she added. A surge in bond yields earlier in the year and historically pricey equity valuations sent tech stocks tumbling first, as investors rotated out of growth-oriented areas of the market. Rising rates make future profits, like those promised by growth companies, less attractive. The tech-heavy Nasdaq has been hit especially hard this year. The index is now more than 31% below its Nov. 22 all-time high. Some of the largest technology companies have registered sizeable declines this year, with Netflix down 71%. Apple and Alphabet have lost roughly 23% and 24.8%, respectively, while Facebook-parent Meta has slid 52%. On Thursday, Universal Health Services fell 6.1% and helped lead the market lower after it issued second-quarter earnings and revenue guidance below expectations, citing lower patient volumes. Shares of HCA Healthcare lost 4.3%. Abiomed and Viatris were lower by more than 3%. Pharmacy stock Walgreens Boots Alliance was the biggest decliner in the Dow, down 7.2% after the company reiterated its full-year forecast of adjusted per-share earnings growth in the low single digits. Cruise stocks continued to drag, after Morgan Stanley cut its price target on Carnival roughly in half Wednesday and said it could potentially go to zero. Carnival shares were down more than 2% Thursday. Royal Caribbean and Norwegian Cruise Line each fell more than 3%. Home retail stocks were down, too. High-end furniture chain RH saw shares drop about 10.6% after it issued a profit warning for the full year. Wayfair and Williams-Sonoma fell roughly 9.6% and 4.4%, respectively. Inflation and the economy The core personal consumption expenditures price index, the Fed's preferred inflation measure, rose 4.7% in May, the Commerce Department reported Thursday. That's 0.2 percentage points less than the month before, but still around levels last seen in the 1980s. The index was expected to show a year-over-year increase of 4.8% for May, according to Dow Jones. The Chicago PMI, which tracks business activity in the region, came in at 56 in June, slightly below a StreetAccount estimate of 58.3. The Federal Reserve has taken aggressive action to try and bring down rampant inflation, which has surged to a 40-year high. Federal Reserve Bank of Cleveland President Loretta Mester told CNBC Wednesday that she supports a 75 basis point hike at the central bank's upcoming July meeting if current economic conditions persist. Earlier in June, the Fed raised its benchmark interest rate by three-quarters of a percentage point, the largest increase since 1994.

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

UHS

Universal Health Services

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

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

https://www.cnbc.com/2020/12/08/saxo-bank-sees-potential-for-new-era-of-universal-basic-income-in-2021.html

UHS

Universal Health Services

Universal basic income could decimate cities next year, one bank says in its ‘outlandish forecasts’

LONDON — Saxo Bank says universal basic income could become a permanent reality next year, triggering a "seismic rebalancing" of society as workers wave "bye-bye" to big city life. In a report entitled "Outrageous Predictions," the Danish bank on Tuesday outlined 10 "outlandish forecasts" for 2021, although it did stress these are not its "official" views. Among the predictions, the bank said that measures implemented by governments to support lost wages in response to the coronavirus pandemic could become permanent, and this new era of free money would crush commercial real estate. "The risk that societies are entirely torn apart results in the realisation that the Covid-19 measures weren't a mere panic response, but the start of a permanent new universal basic income (UBI) reality," Saxo global macro strategist Kay Van-Petersen said in the report. "UBI leads to a seismic rebalancing of the forces and structures within society, and how they apply geographically." He said the Covid-19 pandemic has "only accelerated the K-shaped recovery that was driving inequality and tearing at the social fabric before the outbreak." A K-shaped recovery refers to one in which the performance of the economy sharply diverges like the arms of the letter K, with some parts of the economy benefiting from strong growth while others lag. Van-Petersen also said the younger generation had come to realize that "even a solid education and the right attitude" were not enough to move up the socio-economic ladder as was possible through most of the 20th century. And the growing wage deflationary forces of software, artificial intelligence and automation were "eroding a widening swath of jobs across industries."

https://www.cnbc.com/id/35952967

UHS

Universal Health Services

Pisani: Analysts' About-Face on Health Bill?

Wall Street has done a bit of an about-face on health care reform in the past few weeks — while the Street for the most part is strongly opposed to the bill, analysts are increasingly pointing out potential positives in addition to negatives. You can see this in the title of some of this morning's analyst reports. Cowen's title is: "Reconciliation Bill: Not So Bad" Leerink Swann says "Time To Buy Managed Care Stocks (If You Haven't Already)." The tenor of much of the commentary is that: 1) the bill increases access to health insurance, thereby increasing the number of insured, and 2) if passed, it will not impact the industry until 2014, so there are four years to look at fundamentals. That's true, but there are still plenty of negatives. Here's a greatly simplified cheat sheet composite of what the Street is saying now. HMOs Big Positive: larger number of insured Negative: lower payments per member Medicare Advantage stocks Negative: facing funding cuts Observation: universally viewed as the losers, but stocks not seeing a big selloff Names: Humana , HealthSpring , Universal American Medicaid Positives: larger number of members; House bill includes Medicaid physician rate increases to Medicare levels in 2013 and 2014. Names: Amerigroup , Molina , WellCare Hospitals Positive: fewer uninsured Negatives: Medicare cuts Names: Tenet , Community Health , Universal Health _____________________________ Take Our Poll: _____________________________ More Market Insights: _____________________________ CNBC Slideshows: _____________________________ CNBC Data Pages: _____________________________ _____________________________ Questions? Comments? tradertalk@cnbc.com

https://www.cnbc.com/2019/08/29/hospitals-prepare-for-hurricane-dorian-on-pace-for-florida.html

UHS

Universal Health Services

Hospitals gather supplies, prepare staff as Hurricane Dorian approaches Florida coast

This GOES-16 satellite image taken Thursday, Aug. 29, 2019, at 14:20 UTC and provided by National Oceanic and Atmospheric Administration (NOAA), shows Hurricane Dorian, right, moving over open waters of the Atlantic Ocean. Some of the nation's largest investor-owned hospitals are working to gather supplies and prepare for Hurricane Dorian, which is rapidly approaching the Florida coast as a potentially devastating Category 4 storm. Hospitals, which have backup generators, play a crucial role during hurricanes, providing emergency medical assistance and shelter. About 20% of hospital operator Tenet Healthcare 's acute-care beds are in the path of the storm, according to a research note Thursday from Evercore ISI analyst Michael Newshel, who covers managed care and health-care facilities. That's followed by HCA Healthcare , the largest investor-owned hospital operator in the U.S., with about 12% of its beds in the storm's path. More than 3% of Universal Health Services ' beds are in its path. Universal Health Services said it is closely monitoring the storm and working to ensure appropriate preparations are made, including stocking up on food, water, linens, diesel fuel, medications and staffing. The company plans to post updates through its website and social media pages. "If evacuation orders are called in the areas in which we have facilities, we will comply with those orders. We will ensure the safety of our patients and staff by temporarily relocating them to other appropriate facilities in safe areas," UHS spokesperson Jane Crawford said in a statement. A spokesperson for HCA said the company is providing support to its hospitals that may be in the path of the storm. "Our preparedness activities include ensuring our hospitals have enough staff, medications, supplies, food, water and a generator power to continue to operate and care for our patients during and after the storm," HCA spokesperson Harlow Sumerford said. Tenet Healthcare was not immediately available for comment. Hurricanes can be costly to hospital networks. Damage from hurricanes Harvey and Irma in Texas, Florida and Louisiana in 2017, for example, cost HCA an estimated $140 million before insurance claims, according to the company's quarterly earnings reports. Shares of HCA and Universal Health Services rose Thursday, each up more than 1% in early afternoon trading. Tenet Healthcare was up nearly 3%. The U.S. National Hurricane Center said Thursday that Dorian was expected to hit the U.S. mainland late Sunday or early Monday, somewhere between the Florida Keys and southern Georgia. The storm is projected to pack 130 mph winds. Florida Gov. Ron DeSantis declared a state of emergency throughout the state on Thursday afternoon. WATCH: Hurricane Dorian heads for Florida over Labor Day weekend

https://www.cnbc.com/2018/10/15/cramers-power-ranking-for-energy-marathon-conocophillips-valero.html

VLO

Valero Energy

Cramer shares the 5 energy stocks he likes right now, including Marathon and ConocoPhillips

watch now With stocks trying to recover from last week's painful selling, CNBC's Jim Cramer wanted to continue his marketwide power rankings to find plays worth buying at these levels. "We're going sector by sector to highlight the stocks that seem best positioned right now, at this very moment," the "Mad Money" host said Monday. "What's next? Well, it's one that's on everybody's mind because of the price of it: energy." Rising oil prices have generated continued successes for a number of energy companies as major oil-producing nations like Libya, Nigeria and Venezuela undergo domestic turmoil, thus crimping supply. The Trump administration's reinstated sanctions on Iran have also squeezed Middle Eastern production. And the recent disappearance of a Saudi journalist could give U.S. oil companies another leg up on international rivals, Cramer said. "The American oil stocks have been hammered because of the controversy, but that seems crazy to me," he said. "If Saudi Arabia ends up facing any kind of sanctions, that's good news for our oil producers — the group should be going higher, not lower." All in all, this backdrop has produced a handful of "very big winners" in energy, Cramer said. But which ones are the most investable? Here's his breakdown: 1. Marathon Petroleum Corp. The "Mad Money" host's favorite of the group was refining, marketing and transportation play Marathon Petroleum , shares of which have climbed nearly 18 percent in 2018. The petroleum giant has a few key drivers: an uptick in gasoline exports from the Gulf Coast, where many of Marathon's refineries are located, and its $23 billion acquisition of Andeavor, which made Marathon the largest U.S. refiner. "Marathon is now the undisputed king of the refiners. Management's forecasting $1 billion in annual run-rate synergies within the first three years," Cramer said. "At a time when oil's trending higher thanks to global supply disruptions, you absolutely want to own the largest refiner in America, and even after its recent run, Marathon's still incredibly cheap. It sells for just 10 times [next year's] earning [estimates]." 2. ConocoPhillips The biggest pure-play exploration and production company in the world, ConocoPhillips took second place on Cramer's power ranking. Shares of the company are up 34 percent for the year. "I think it's a great proxy for the global oil and gas industry, as the company has a diversified portfolio of assets with a major emphasis on the United States, where fossil fuels are cheap and plentiful and you don't have a lot of political risk," Cramer said. Moreover, ConocoPhillips' average cost of supply is roughly $35 a barrel, making the stock doubly attractive with the price of crude hovering around $71. "The last time the company reported, management raised their full-year production capital spending guidance by half a billion dollars — that's obvious confidence," the "Mad Money" host said. "Look, while the stock has run, it's down nearly 10 percent in the past two weeks, trading at merely 13 times earnings. Conoco, right here, [is] a buy." 3. Valero Energy The second-largest refiner after Marathon, Valero placed third in the energy power ranking. Cramer admitted he preferred Marathon's stock to Valero's, but acknowledged that the oil refiners are currently in a "terrific environment." "Basically, we don't have enough refining capacity worldwide, and because these things take ages to build — do you want a refinery in your backyard? — the refinery shortage could last until 2020 or longer," he said. "But, like the others here, Valero's sold off in recent months. It now sells for just 10 times earnings. I think it's a bargain." 4. EOG Resources Coming in fourth was EOG Resources , an independent oil and gas colossus and a pioneer in extraction by fracking, or using highly pressurized liquid to force open oil-rich rock formations. Calling it an "unconventional" producer, Cramer highlighted its "terrific acreage in very low-cost parts of south Texas," where oil production has boomed in recent months. "Thanks to last week's brutal sell-off, its growth oil stock is selling for 16 times earnings," Cramer said. "I know that sounds high, but this has got the best growth profile. I think it's absurd that its stock trades this cheap, especially when you consider that EOG's expected to grow at a 29 percent clip. That's like a tech company." 5. Anadarko Petroleum Corp. Fifth in line was Anadarko Petroleum , an exploration and production play owned by Cramer's charitable trust. "In all honesty, Anadarko would've been my No. 1 pick here if not for one single thorny issue: the company owns 400,000 acres in the DJ Basin area of Colorado. The problem? On election day, Colorado's holding a referendum that would effectively ban new drilling in the state," Cramer said. "I still like the stock enough to own it for my charitable trust, ... but the risk is real, so you might want to wait until after the election before picking some up," the "Mad Money" host added. Final thoughts Geopolitical upheaval can often translate into gains for the major oil players, and when it comes to Cramer's power rankings, these juggernauts seem positioned to benefit from near-term turbulence. "Here's the bottom line: the world is a mess and that's great for oil producers and refiners," Cramer said. "I like Marathon Pete, ConocoPhillips, Valero, EOG Resources and Anadarko — in that order." Want more power plays? Get the rest of Cramer's power rankings here: Click here for his communications services power ranking. Click here for his consumer staples power ranking. Click here for his consumer discretionary power ranking. WATCH: Cramer's power ranking for the energy stocks watch now

https://www.cnbc.com/2018/04/24/jeff-gundlachs-new-oil-stock-etf-bet-picks-likely-energy-movers.html

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Valero Energy

Jeff Gundlach's new energy-sector trade has potential to be a gusher

Investor Jeff Gundlach may be best known for his bond bets, but he has been talking about commodities as one of the market's best trades since the beginning of the year. On Monday he revealed a specific trade for what he sees as an underappreciated opportunity in the energy sector. Speaking at the Sohn Investment Conference, where many managers disclose their latest investment ideas, the founder and CEO of DoubleLine Capital said he bought shares of the SPDR S&P Oil & Gas Exploration & Production ETF ( ) because he thinks energy stocks have not yet received the full benefit of the crude-oil rally. "It's lagged in a way that's kind of bizarre this year," Gundlach told CNBC on the sidelines of the conference. "It's not a very great performing sector, and yet oil has gone up towards $70 a barrel." Gundlach continued: "If you look historically at the energy sector versus the S&P 500, not surprisingly it's correlated with movements in oil. That hasn't happened this time, and I think there's a catch-up there. The charts look good on XOP, the exploration and production part of the sector." The chart is arguably better for XOP than some other broad energy ETFs. The iShares Dow Jones US Oil and Gas Exploration and Production (IEO ) is up 21 percent in the past year, versus only 11 percent for XOP. WTI crude oil is up by about 25 percent in the past year. So far in 2018, IEO is up more than 8 percent — best among U.S. energy sector ETF bets — while XOP is up a little under 5 percent. That performance gap may represent where there is more money left to be made in oil and gas companies.

https://www.cnbc.com/2017/05/26/these-energy-stocks-have-outperformed-when-opec-rolls-over-policy.html

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Valero Energy

These energy stocks have outperformed the S&P 500 when OPEC rolls over policy

Some energy stocks could be poised to outperform the market in the wake of OPEC's latest policy decision. The 14-member producer group on Thursday extended for nine months a deal with other major exporters to cut 1.8 million barrels a day from the market to shrink global stockpiles of crude oil. CNBC ran a study to see how energy stocks perform a month after OPEC rolls over its policy on pumping crude oil, using hedge fund analytics tool Kensho. In about 14 instances after OPEC maintained the status quo, the energy sector has traded roughly in line with the broader index. But a number of constituents in the sector have outperformed on average across those cases. Since 2010, a dozen stocks in the Energy Select Sector SPDR exchange-traded fund, or XLE, have outperformed the S&P 500, according to Kensho.

https://www.cnbc.com/2017/09/25/energy-rallies-once-again-but-investors-are-wary.html

VLO

Valero Energy

Energy rallies once again, but investors are wary

Oh man, it's happening again. Oil is rallying, and so are oil stocks. Both are up about 10 percent in a month. And almost no one thinks it will last. Here's the story this time: Oil supply is tightening. OPEC compliance with production levels has increased. The shale guys have increased activity, but not as much as some feared, and demand numbers have been steadily on the increase. The result: a big oil rally, with Anadarko , Marathon , Hess , Devon , and Apache up double digits this month, and even Exxon and Chevron up 6 percent and 9 percent, respectively, both among the leaders of the Dow Jones industrial average for the month Refiners like Holly , Valero and have hit new highs as well. We'll see. The whole energy story this year follows one heartbreak after another, and investors don't want anything to do with this sector. Who could blame them? On at least three occasions, investors have had their heads handed to them, and we may now have a fourth heartbreak. Let me explain. The first big energy rally occurred at the election, when energy stocks climbed 10 percent into the first weeks of December. The sector was far better than the 5 percent rally in the S&P 500 at the time. But oil stocks were already off their highs as we entered the new year. They dropped steadily for the first two months of the year and accelerated their decline when oil dropped below $50 in March. They fell 12 percent from their highs, giving back all their postelection gains. That was the first heartbreak. The second began when oil rallied in late March, going to almost $54 by mid-April, and investors again began buying oil stocks, pushing them up 6 percent in a month. But it didn't last — oil resumed its slide and was again below $45 by early May and down to $42 in late June. The Energy Select Sector SPDR , the XLE, went almost straight down, losing 12 percent. Then came the third heartbreak. A six-week rally took oil to $50 by early August, and oil stocks rose 6 percent, but again they gave it all back when oil dropped into the mid-$40s. You'd think everyone would give up by now. But oil rallied 10 percent this month to its highest level since April, and we get the biggest oil stock rally of the year. The XLE is up 10 percent in a little more than a month. Is the fourth heartbreak coming? Who knows. Looks to me like it's a rally based on fundamentals — so far. Investor sentiment is about as bad as you could ask for. There's little money in the sector, and that is certainly a plus. The energy weighting in the S&P 500 is 7 percent. It hasn't been that low in more than a decade. So once again, the analysts are saying, you have some fundamental improvement, and you've got a lot of cheap stocks here. Anyone interested? Anyone?

https://www.cnbc.com/2017/03/20/tracking-the-next-move-for-energy.html

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Valero Energy

Tracking the next move for energy

So far this year crude oil has fallen just more than ten percent. Brent crude , just over nine percent. Our data and analytics partner Kensho measured what happens to various energy sectors after energy falls five percent or more in the first quarter of a given year. This has happened four times since 1990. Kensho shows that on average after a five percent or more drop for energy in Q1, the S&P Oil and Gas Equipment and Services Return surges 15 percent in the following quarter. That sector includes companies like Halliburton , National Oilwell , Baker Hughes and Schlumberger . The S&P Oil and Gas Drilling sector is up 12 percent in second quarters where we see a big drop in Q1. That would include companies like Transocean and Helmerich & Payne .

https://www.cnbc.com/2018/02/05/energy-stocks-head-for-worst-2-day-performance-in-2-years.html

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Valero Energy

Energy stocks post worst 2-day performance in 2½ years

Chesapeake Energy was the biggest loser of the day, dropping 7.2 percent. It is down more than 20 percent over the last week since announcing it would lay off about 13 percent of its workforce . Crude oil prices also fell as investors dumped risk assets, with international benchmark and U.S. West Texas Intermediate crude both losing about $2 a barrel, or roughly 3 percent, since the end of Thursday's session. Over the two-day stock market sell-off , the sector dropped 8.3 percent. That is its worst two-day performance since Aug. 24, 2015, when energy stocks dropped 8.5 percent. Energy stocks were the biggest decliners throughout much of a second day of selling on Wall Street on Monday, with the sector heading for its worst two-day performance in 2½ years. Hess trailed just behind Chesapeake, dropping nearly 7 percent on the day, after reporting a bigger-than-expected quarterly loss. The company's guidance on 2018 production was about 9 percent below the Street's expectations, according to Capital One Securities. "Want to get more positive on HES given world-class Guyana asset ..., but can't point to much that warrants upgrade from Underweight," Capital One analyst Phillips Johnston said in a research note on Monday. The earnings report from Hess continued a string of weak earnings from U.S.-headquartered oil and gas companies. Exxon, which on Friday badly missed expectations for profits due in part to weakness in its U.S. exploration and production segment, was the third-biggest laggard. Integrated oil peer Chevron also disappointed on earnings on Friday. Shares of both companies were down more than 10 percent over the last two sessions. "Earnings were significantly weaker than expected," said Rob Thummel, portfolio manager at Tortoise Capital Advisors, referring to Exxon and Chevron. "That's what's really driven the S&P energy stocks off more significantly." Shares of energy stocks have lagged the rebound in crude oil futures since June. During that period, oil prices have risen nearly 50 percent, while the S&P energy sector has run up almost 9 percent. While Thummel believes that's an opportunity, he says it's been disappointing for investors already exposed to energy stocks. "I think it's just a clear indicator that people don't believe the oil price," said Thummel. "They think it's too high. They think it's coming down." Oil prices have come under pressure from a rising U.S. dollar as the correlation between the greenback and crude futures reasserts itself. There are also fresh signs that U.S. output is offsetting OPEC's deal to limit production, with American supplies topping 10 million barrels a day in November for the first time since 1970.

https://www.cnbc.com/2017/01/27/carl-icahns-cvr-energy-stake-doubled-after-trump-won-election.html

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Valero Energy

Carl Icahn's shares in CVR Energy have doubled since Trump won the election

Shares of oil refiner CVR Energy have nearly doubled since Donald Trump's election, providing a windfall to investor Carl Icahn, who will advise the president on regulations — including a rule change that would benefit the company. The stock rose 98.5 percent between Trump's election and its closing high earlier this month, as the Financial Times pointed out on Friday. Just before Friday's close, it was up nearly 81 percent, following a 6 percent slide on the day. The stock is up about 8 percent since the presidential transition team announced on Dec. 21 that Icahn would serve as "a special advisor" to Trump. The broader S&P 500 energy sector is up about 7 percent since the election, supported by Trump's fossil fuel-friendly "America First" energy policy. Icahn controls 82 percent of CVR Energy and has long railed against a federal rule that requires refiners that cannot blend ethanol into gasoline to buy credits instead. He has continued to bring up the issue in media appearances since being recruited by Trump. The rule hurts so-called merchant refiners like CVR Energy because they do not blend fuels, which means they have to buy credits from larger refiners with blending and retail operations, such as Valero Energy and Marathon Petroleum . Shares of Marathon are up more than 16 percent since the election, while Valero has gained about 15 percent. To be sure, Valero warned last July that its cost of complying with the Renewable Fuel Standard, largely related to the credits, could double in 2016. Former White House ethics advisors told CNBC last month that Icahn's role presented a clear conflict because it puts him in a position to influence the president to repeal the regulations and thereby help CVR. That would potentially boost CVR's stock price and enrich Icahn.

https://www.cnbc.com/2014/03/05/valero-looks-to-ship-canadian-crude-to-the-uk.html

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Valero Energy

Valero looks to ship Canadian crude to the UK

Refining company Valero Energy , already sending U.S. crude across the border to its Canadian refinery, is now seeking to export Canadian crude to its refinery in the UK. Valero CEO Bill Klesse told a group of journalists and others at the annual IHS CERAWeek energy conference that Valero would be joining others in the industry in shipping Canadian crude abroad. He said Valero would like to send crude from Canada to its Pembroke refinery in the U.K. However, he does not expect it to be a great volume of crude, and said the economics of it may not work out currently. (Read more: Ying-yang: Russia-U.S. energy interdependence) Getty Images But these shipments are being discussed as the call to export U.S. crude gets louder, and the battle lines within the industry over exporting are being drawn. Klesse and the refiners are opposed to exporting raw crude, and the producers are in favor of it. It also highlights the challenges and interconnected nature of the North American energy market, with the U.S. now one of the world's biggest energy producers. At the same conference in Houston, Sen. Lisa Murkowski, (R-Alaska) Monday called on the Obama Administration to lift a prohibition on the export of U.S. crude and to open up drilling on federal land. She also said she was asking the Energy Department to study the impact of exporting crude. (Read more: As geopolitical tensions rise, US cushions energy prices) While the refining industry is opposed to exporting crude, its own exports of refined product has grown, especially distillates like diesel. "We shipped a few million barrels this year" as exports, said Phillip Rinaldi, CEO of Philadelphia Energy Solutions, which owns two former Sunoco refineries that were headed for shutdown. Rinaldi appeared on a panel with Klesse. watch now

https://www.cnbc.com/2023/09/24/verizon-ceo-shares-simple-morning-routine-for-right-mood-energy.html

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Valero Energy

Verizon's CEO swears by a simple 1-question morning routine: It gets you into the 'right mood and right energy'

For Verizon CEO Hans Vestberg, self-reflection is serious business. The 58-year-old kicks off every day with a self-assessment, and he's a better boss because of it, he said on Tuesday at the Fast Company Innovation Festival 2023. Vestberg started the routine in 2009 after becoming CEO of Swedish telecommunications company Ericsson, and he's done it "every day" since, he said. Each morning, Vestberg ranks his mood "from 1 to 10," he said, helping him get into the "right mood and right energy" to do his job. The numbers gauge whether he's able to show up to the office as his best self: 1-2: He should "stay in his office" and work by himself, because he isn't in a good headspace to collaborate with others, he said. 3-7: He's "energized" and able to work at a high level, he said, adding that this range is "usually when I'm the best." 8-10: Vestberg has "so much energy that people get tired of me," he joked. He tries to dial back to the 3-7 range and prioritize his work, he said. The routine "brings out the strength in my leadership," said Vestberg. He's not alone. Jerry Colonna, an executive coach sometimes known as the "CEO whisperer," has a similar routine called "radical self-inquiry" that he says helps him make better decisions. "Spend a few minutes each day, but not the entire day, asking questions like how am I really feeling? What do I want to bring [to a situation]?" Colonna told CNBC Make It in March. "Radical self-inquiry is a means to unabashedly, without shame and without seeking guilt, understand who you are [and] why you do the things you do — so that you then do things out of choice, not for unconscious reasons." Strategies like these might feel unnatural at first, Colonna said: "We're socialized not to look inward" because it can come across as "narcissistic or self-indulgent." But as long as you don't "get stuck" harping on certain character traits, you can use the practice to develop some important self-awareness. That's a crucial skill for professionals at every level: Self-awareness can help you show up with more confidence and creativity, according to a 2018 Harvard Business Review report. It can help you make better decisions, strengthen your relationships and protect you from work stress or burnout. "You can have all the technical skills and charisma in the world," Juliette Han, a Harvard-trained neuroscientist, told Make It in June. "But if you're completely oblivious of yourself, how you come across and interact in the world, it's a lot harder to build strong relationships, interact with your boss and co-workers and deepen the friendships you need to truly succeed." DON'T MISS: Want to be smarter and more successful with your money, work & life? Sign up for our new newsletter! Want to earn more and land your dream job? Join the free CNBC Make It: Your Money virtual event on Oct. 17 at 1 p.m. ET to learn how to level up your interview and negotiating skills, build your ideal career, boost your income and grow your wealth. Register for free today.

https://www.cnbc.com/2023/06/23/multnomah-county-in-oregon-sues-oil-gas-companies-for-2021-heat-dome.html

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Valero Energy

Oregon county sues oil, gas companies including Exxon, Shell, Chevron for deadly 2021 Pacific Northwest heat dome

Shanton Alcaraz from the Salvation Army Northwest Division gives bottled water to Eddy Norby who lives in an RV and invites him to their nearby cooling center for food and beverages during a heat wave in Seattle, Washington, U.S., June 27, 2021. Multnomah County in Oregon is suing oil and gas companies Exxon Mobil , Shell , Chevron , BP, ConocoPhillips and related organizations for the damages caused by the 2021 Pacific Northwest heat dome. Multnomah County said these and other fossil fuel companies and entities operating in the region are significantly responsible for causing and worsening the deadly heat event. "The combined historical carbon pollution from the use of Defendants' fossil fuel products was a substantial factor in causing and exacerbating the heat dome, which smothered the County's residents for several days," Multnomah County alleges, according to a written statement released Thursday. The lawsuit is filed against Anadarko Petroleum (acquired by Occidental Petroleum in 2019), American Petroleum Institute, BP , Chevron , ConocoPhillips , Exxon Mobil , Koch Industries, Marathon Petroleum, McKinsey & Company, Motiva, Occidental Petroleum , Peabody Energy, Shell , Space Age Fuel, Total Specialties USA, Valero Energy and Western States Petroleum Association. Multnomah County is seeking $50 million in actual damages, $1.5 billion in future damages, and an estimated $50 billion for an abatement fund to "weatherproof" the city, its infrastructure and public health services in preparation for future extreme weather events. Starting on June 25, 2021, Multnomah County had three consecutive days where the heat reached 108, 112 and 116 degrees Fahrenheit, respectively. Each of those days was about 40 degrees above the regional average and were the hottest days in the County's recorded history. The heat event is called a heat dome which is a weather event caused by a high-pressure system that in this case prevented cooler maritime winds to blow and also prevented clouds from forming. The heat caused the deaths of 69 people, and property damage and was a draw on taxpayer resources, Multnomah County says. Multiple climate scientists researched the cause of the heat dome and all said that the event was caused by excessive carbon dioxide emissions released by the burning of fossil fuels, the plaintiff says. "The heat dome that cost so much life and loss was not a natural weather event. It did not just happen because life can be cruel, nor can it be rationalized as simply a mystery of God's will," the lawsuit reads. "Rather, the heat dome was a direct and foreseeable consequence of the Defendants' decision to sell as many fossil fuel products over the last six decades as they could and to lie to the County, the public, and the scientific community about the catastrophic harm that pollution from those products into the Earth's and the County's atmosphere would cause." Jessica Vega Pederson, the chair of Multnomah County, is seeking to protect the residents of the county she represents. "This lawsuit is about accountability and fairness, and I believe the people of Multnomah County deserve both. These businesses knew their products were unsafe and harmful, and they lied about it," Pederson said in a written statement announcing the lawsuit. "They have profited massively from their lies and left the rest of us to suffer the consequences and pay for the damages. We say enough is enough." The case is being brought by three law firms with expertise in catastrophic harm litigation: Worthington & Caron PC, Simon Greenstone Panatier PC, and Thomas, Coon, Newton & Frost. The plaintiffs allege the defendants committed negligence and fraud and created a public nuisance.

https://www.cnbc.com/2023/09/20/here-are-the-14-stocks-jim-cramer-is-watching-including-apple-goldman-sachs-amazon.html

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Ventas

Here are the 14 stocks Jim Cramer is watching, including Apple, Goldman Sachs, Amazon

Here are some of the tickers on my radar for Wednesday, Sept. 20, taken directly from my reporter's notebook: Apple Goldman Sachs CNBC reports. Club name Apple concerned about backlash. Meanwhile, UBS evidence lab shows lead time very strong for iPhone 15 and premium. CNBC reports. Club name Apple concerned about backlash. Meanwhile, UBS evidence lab shows lead time very strong for iPhone 15 and premium. Club name Amazon First-ever Pinterest Investor Day well received. Amazing that at one point PayPal (PYPL) flirted with merging with Pinterest Weekly mortgage applications increase 5.4%, the first gain in three weeks, even at home loan rates rise. Seems like CEO Stuart Miller at Lennar If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free.

https://www.cnbc.com/2022/11/16/el-sp-500-cierra-ms-bajo-mientras-la-advertencia-de-target-pesa-sobre-las-acciones-de-venta-al-por-menor.html

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Ventas

El S&P 500 cierra más bajo mientras la advertencia de Target pesa sobre las acciones de venta al por menor, el Nasdaq cae un 1.5%

Specialist traders work inside a post on the floor of the New York Stock Exchange (NYSE) in New York City, November 10, 2022. Brendan Mcdermid | Reuters

https://www.cnbc.com/2023/08/01/sp-500-retrocede-para-iniciar-agosto-dow-fija-ganancia-pequea.html

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Ventas

S&P 500 retrocede para iniciar agosto, Dow fija ganancia pequeña después de llegar a su nivel más alto en más de un año

Traders on the floor of the New York Stock Exchange, July 17, 2023. Source: NYSE

https://www.cnbc.com/2017/02/17/brookdale-senior-shares-fall-on-news-of-buyout-by-ventas-wsj-reports.html

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Ventas

Brookdale Senior Living shares fall after report Blackstone is no longer interested

Enes Kanter #11 of the Oklahoma City Thunder visits with elderly residents for a game of bingo on November 29, 2016 at the Brookdale Village Senior Living Community in Oklahoma City, Oklahoma. Shares of fell Friday after The Wall Street Journal reported, citing sources, that private equity firm Blackstone is no longer going to make a move. Instead, healthcare-facility owner is now in talks to acquire either part or all of Brookdale, the newspaper said Thursday afternoon, citing people familiar with the matter. The Journal had reported in January that Brookdale was in talks with Blackstone and other potential buyers. Brookdale, Ventas and Blackstone did not immediately respond to CNBC's requests for comment. Shares of Brookdale ended the day about 6.6 percent lower, erasing gains for the week. The stock initially spiked after-hours Thursday before trading lower. Ventas shares fell about 0.66 percent on the day. Brookdale 6-month performance Source: FactSet On Monday, Brookdale reported a net loss of $268.6 million for the fourth quarter, up more than 50 percent from the same quarter the prior year. "We are operating in a difficult environment with intense supply pressure and a competitive labor market," Brookdale's chief executive officer, Andy Smith, said in the company's earnings release. Shares of Brookdale are up more than 15 percent for the year so far, compared to the S&P 500's nearly 5 percent gain. Ventas shares are down about 0.6 percent for 2017.

https://www.cnbc.com/2023/07/18/el-dow-salta-ms-de-300-puntos-para-su-sptimo-da-positivo-consecutivo.html

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Ventas

El Dow salta más de 300 puntos para su séptimo día positivo consecutivo, siendo su racha victoriosa más larga desde 2021

Traders on the floor of the New York Stock Exchange, July 17, 2023. Source: NYSE

https://www.cnbc.com/2023/06/06/one-beaten-up-part-of-commercial-real-estate-could-be-a-bright-spot-.html

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Ventas

This beaten-down sector could be a bright spot in commercial real estate

As the market reassesses the value of office properties, investors have been steering clear of many commercial real estate stocks. But there are some healthier spots that could be worth a second look. Greg Kuhl, a portfolio manager at Janus Henderson, said he likes the outlook for Alexandria Real Estate Equities , a pure-play owner of life sciences centers. Even though its stock has been under pressure, Kuhl expects the accelerating pace of health care innovation to stoke demand for laboratory space in years to come. According to Kuhl, the U.S. Food and Drug Administration has been working to speed up the drug approval process, and this has helped drive research and development investment. "We are told that 2023 is on track to be equal to, or maybe the best year ever, in terms of new medicines being approved," Kuhl said, "so that's a positive from the innovation perspective and the speed of innovation." An aging population also will have more medical needs, which will need to be served, he said. The market dynamics Alexandria Real Estate Equities enjoys very high occupancy levels of about 95%, and Kuhl anticipates many of the leases in its portfolio are priced about 20% below market rates. That will provide the company with upside potential as leases mature and renew. The dynamic also provides investors with some cushion should market rental rates come down a bit, Kuhl said, adding there haven't been any signs of that being the case yet. ARE YTD mountain Alexandria recently hit a 52-week low of $110.64. Still, there is a risk rents could be under pressure as new supply comes online in the industry. Strong demand over the last five to seven years inspired developers to build new centers, he said. Some are being built from the ground up, but others were traditional office spaces being converted into life sciences centers. Kuhl said the conversions usually aren't as desirable as spaces first developed as labs. "There are some characteristics that are hard to replicate for a real R & D life science user that you can't really do in a conversion," he said. Research facilities typically require a lot of specialized equipment, including ventilation systems and electric, and floors often are built to carry heavier loads, he explained. "But once they are up and running, the ongoing maintenance expense and the expense of re-tenanting, we think, is lower than traditional office," he said, which makes for a much more profitable business. Typically, when office tenants move out of a building, landlords are asked to reconfigure the space to suit the needs of the new tenant. "That happens every time an office turns over," he said. But lab space is a little different, he continued, saying it's "much more fungible" and the specialized needs tend to be handled by the tenants. While Alexandria Real Estate Equities has been an active developer, many of its projects already have tenants in place, according to Kuhl. Biotech funding cliff In recent research notes, Mizuho analyst Vikram Malhotra said the stocks of both Alexandria Real Estate Equities and its competitor Healthpeak have been hurt by concerns biotech companies, especially those that went public in 2020 and 2021, will be hitting a funding cliff in the coming months, which will lead to companies either going bankrupt or needing to be acquired. Either outcome could knock the demand for lab space and prove difficult for landlords. In April, Mizuho did an analysis of both companies' tenant rosters to see what kind of cash runway the companies have. Following that work, Malhotra set buy ratings on both stocks, saying any credit risks in the space are "manageable." PEAK YTD mountain Healthpeak share are trading near the lower end of its 52-week range. According to his research, about 84% of Alexandria Real Estate Equities' square footage is leased by public health care companies that have more than eight quarters of funding in hand, while 3% is leased to those that have less than four quarters of funds. For Healthpeak, 72% of its square footage is leased to tenants that are public health care companies with more than eight quarters of funding and only 6% of its space is leased to ones with less than four quarters of funds, he said. Malhotra said he sees lab REITs as a "lower-beta way to play the volatile Life Sciences environment." His $145 price target on Alexandria Real Estate Equities implies 25% upside from Monday's close. However, the average analyst price target is even higher, $164, according to FactSet. Alexandria Real Estate Equities' shares are down 19% so far this year, underperforming both the iShares Biotechnology ETF (IBB) and the S & P 500 , which have lost 1.7% and gained about 12% year to date, respectively. As for Healthpeak, Malhotra has a $25 price target, which is 22% above where the stock closed Monday. Healthpeak's shares are down about 16% year to date. Other stocks with exposure to the sector include Ventas , Boston Properties and Kilroy Realty . But each of these companies are more broadly diversified and have exposure to other types of commercial real estate. Kilroy, for example, had been focused on properties in the tech hubs, but it now has a growing life sciences portfolio. As for Kuhl, in the short term, he said it will be difficult for Alexandria Real Estate Equities to find a catalyst to move its stock. However, over time, he expects the story to be proven out. "We do think on a longer-term basis, this is deeply discounted, but it's going to take time to prove to the market," he said.

https://www.cnbc.com/2023/05/06/with-earning-season-winding-down-investors-await-meeting-on-debt-limit.html

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Ventas

As earnings season winds down, investors turn to Tuesday's debt ceiling meeting

With only a small fraction of the S & P 500 left to report quarterly earnings, investors are now turning their focus to another major hurdle for the markets and economy: the debt ceiling crisis. Wall Street's heightened focus on the debt ceiling comes after Treasury Secretary Janet Yellen on Monday warned the U.S. may exhaust its ability to meet its borrowing obligations as early as June 1 — at least a month in advance of predictions by many Wall Street economists. On Tuesday, Jim Cramer said "this gauntlet is too hard to get through without some real bumps." What's the hold up on raising the limit? House Republicans maintain that any increase to the debt limit should be tied to spending cuts, while President Joe Biden and the Democrats argue that paying the country's bills should not be dictated by an agreement to reduce the country's deficit. Hopefully, the two sides will come together and make a deal — or make some progress toward a resolution — this Tuesday when House Speaker Kevin McCarthy and Senate Minority Leader Mitch McConnell meet with Biden at the White House to discuss the issue. A failure to raise the debt ceiling before June 1 could lead to a downgrade of U.S. debt by credit rating agencies, higher borrowing costs, lower consumer and investor sentiment and a crash landing into recession. Though it's largely expected that the ceiling will indeed be raised since the U.S. government defaulting on its debt is almost unthinkable, the high-stakes game of chicken being played in Washington has all investors on edge. Earlier this week, we looked back to debt limit crisis of 2011 for potential lessons. The protracted fight ultimately ended in an agreement in early August of that year, but it was a choppy summertime ride for investors. The S & P 500 declined about 17% over a stretch beginning in late July to mid-August, during which Standard & Poor's took the unprecedented step of downgrading the United States' AAA credit rating . On top of the debt ceiling, we also have the ongoing regional bank crisis to contend with, as fears rose again this week as PacWest announced that it was exploring strategic options , including the possibility of a sale. Aside from all this uncertainty, two key pieces of inflationary data are due next week: the consumer price index on Wednesday and the producer price index on Thursday. And of course, more earnings. About 85% of the S & P 500 has now reported quarterly earnings results and of those that have, 75% have reported better-than-expected revenue results while 79% have reported better-than-expected results for earnings per share, according to FactSet. Within the portfolio, Wynn Resorts will report Tuesday, after the closing bell, and Disney will report on Wednesday, after the closing bell. Here are some other earnings reports and economic numbers to watch in the week ahead: Monday, May 8 Before the bell: Tyson Foods (TSN), BioNTech SE (BNTX), Delek US Holdings (DK), DISH Network Corporation (DISH), Viatris (VTRS), TreeHouse Foods (THS), Alpha Metallurgical Resources, (AMR), KKR & Co. L.P. (KKR), Energizer Holdings, (ENR), GoHealth, (GOCO), Delek Logistics Partners LP (LPDKL), Six Flags (SIX) After the bell: McKesson Corp. (MCK), Suncor Energy, (SU), PayPal Holdings, (PYPL), Western Digital Corp. (WDC), Devon Energy Corp. (DVN), International Flavors & Fragrances, (IFF), AECOM (ACM), DaVita (DVA), Brighthouse Financial, (BHF), ARKO Corp. (ARKO), Pactiv Evergreen (PTVE), Kemper Corporation (KMPR), Skyworks Solutions, (SWKS), JELD-WEN Holding, (JELD), Crossamerica Partners LP (CAPL), Cabot Corporation (CBT), Ventas, (VTR), Hillenbrand, (HI), MRC Global (MRC), Palantir (PLTR) Tuesday, May 9 Before the bell: Duke Energy Corp. (DUK), Aramark Holdings Corp. (ARMK), Jacobs (J), Fox Corporation (FOXA), Henry Schein, (HSIC), Vistra Energy (VST), Air Products & Chemicals, (APD), GlobalFoundries (GFS), Veritiv Corporation (VRTV), Bright Health Group (BHG), LCI Industries (LCII), Warner Music Group Corp. (WMG), TransDigm Group (TDG), Under Armour, (UAA), Catalent, (CTLT), Southwest Gas Corp. (SWX), Tempur Sealy International, (TPX), Elanco Animal Health orporated (ELAN), Nexstar Media Group, (NXST), Coty (COTY), Perrigo Co. (PRGO), International Game Technology (IGT), Atkore International Group (ATKR), Sylvamo Corp (SLVM), Apollo Global Management, LLC (APO), ScanSource, (SCSC), Hawaiian Electric Industries, (HE), WeWork (WE), AdaptHealth Corp. (AHCO), Novavax, (NVAX), Waters Corp. (WAT), Clarivate Plc (CLVT), Kosmos Energy (KOS), Stagwell (STGW), Repros Therapeutics (RPRX), Steven Madden, (SHOO), Edgewell Personal Care Company (EPC), Toast (TOST) After the bell: Occidental Petroleum Corp. (OXY), Coupang, (CPNG), L oln National Corp. (LNC), Jackson Financial (JXN), Celanese Corp. (CE), A-Mark Precious Metals (AMRK), GXO Logistics, (GXO), H & R Block (HRB), Liberty Global (LBTYA), Electronic Arts (EA), Airbnb, (ABNB), Endeavor Group Holdings, (EDR), Compass, (COMP), Darling Ingredients (DAR), IAC/InterActiveCorp (IAC), Oscar Health, (OSCR), Vroom, (VRM), Akamai Technologies, (AKAM), Twilio, (TWLO), Clover Health Investments Corp. (CLOV), Grocery Outlet, (GO), Primoris Services Corporation (PRIM), Rackspace Technology, (RXT) Wednesday, May 10 Before the bell: Brookfield Asset Management (BAM), Performance Food Group Company (PFGC), Teva Pharmaceutical Industries, (TEVA), ODP Corporation (ODP), First Citizens BancShares (FCNCA), Li Auto (LIBMO), Syneos Health, (SYNH), Brink's Company (BCO), Middleby Corp (MIDD), Advantage Solutions, (ADVB), Valvoline (VVV), Vishay Intertechnology, (VSH), Nomad Foods Limited (NOMD), UWM Holdings Corporation (UWMC), Reynolds Consumer Products (REYN), Wolverine World Wide (WWW), New York Times Co (NYT), Roblox Corporation (RBLX), Wendy's International, (WEN), RumbleOn, (RMBL), Coherent (COHR), Taboola (TBLA) After the bell: Nutrien (NTR), Flex (FLEX), Manulife Financial Corp (MFC), STERIS Corp (STE), Amdocs, (DOX), Franchise Group, (FRG), Genpact Limited (G), Tetra Tech (TTEK), Jazz Pharmaceuticals (JAZZ), Crane Co. (CR), Cheesecake Factory (CAKE), AppLovin Corporation (APP), Crescent Energy (CRGY), Copa Holdings S.A. (CPA), Robinhood Markets, (HOOD), Pan American Silver Corp. (PAAS), Sonos, (SONO), Ritchie Bros. Auctioneers (RBAAMC), Corsair Gaming, (CRSR), Fluence Energy, (FLNC), Alta Equipment Group (ALTG), Intercorp Financial Services (IFSAMC), Unity (U), Trade Desk, (TTDAMC), Owl Rock Capital Corporation (ORCC), SunOpta (STKL), Traeger, (COOK) 8:30 a.m. ET: Consumer Price Index Thursday, May 11 Before the bell: JD.com, (JD), US Foods Holding Corp. (USFD), Tapestry, (TPR), Kelly Services (KELYA), PerkinElmer (PKI), Charles River Laboratories International, (CRL), Algonquin Power & Utilities Corp. (AQN), Entegris (ENTG), National Vision Holdings (EYE), NICE (NICE), Aveanna Healthcare Holdings, (AVAHBMO), Himax Technologies (HIMX), Carrols Restaurant Group (TAST), Krispy Kreme, (DNUT), PGT Innovations, (PGTI), Utz Brands, (UTZ), YETI Holdings, (YETI) After the bell: Sanmina (SANM), Sun Life Financial (SLF) 8:30 a.m. ET: Weekly Initial Jobless Claims 8:30 a.m. ET: Producer Price Index Friday, May 12 Before the bell: Spectrum Brands (SPB), AirSculpt Tech (AIRS) Looking back It was another big week of earnings for the Club, plus several key macroeconomic reports and a Federal Open Market Committee meeting. The market's reaction to April jobs report on Friday was the most surprising. Job growth came in better than expected, the Labor Department reported, with nonfarm payrolls increasing 235,000 for the month, beating Wall Street's estimates for growth of 180,000. The unemployment rate was 3.4% against an estimate of 3.6% and tied for the lowest level since 1969, while wage growth — a key barometer of inflation — increased 4.4% compared to the expected 4.2% gain. A few weeks ago, a nonfarm payroll this hot would a major cause for concern, as it would support a more hawkish Federal Reserve and additional interest rate hikes. Until recently, good news (strong job market, rising wages) has meant bad news (stocks falling in anticipation of more rate raises). However, on Friday, stocks rallied, with the Dow gaining 1.65%, the S & P 500 climbing 1.85% and the Nasdaq Composite increasing 2.25%. Why the shift to good news actually being good for stocks? It could be that recession fears are growing so loud that investors are happy with anything that reduces the potential of a hard economic landing — even at the cost of another rate hike and the understanding the Fed was correct in raising rates 25 basis points on Wednesday. On the other hand, it may be that the April report wasn't actually as strong as it first seemed. Though the headline number came in 73,000 payrolls above expectations, the combined revisions for February and March showed the added jobs was lower than previously thought, by 149,000 jobs. Netting that out and one could argue that with the April release the economy is actually 76,000 jobs below expectations. Throw in the hotter wage inflation and unemployment numbers and Friday's release may simply be viewed as a Goldilocks number for a market already looking to next week's consumer price index report on Wednesday. The April ISM manufacturing report on Monday came in at 47.1%, ahead of the expected 46.7%. However, it still indicates a contraction in the manufacturing industry. Factory orders, reported Tuesday, increased 0.9% monthly in March, less than the estimated 1.2% gain. Moreover, February's result was downwardly revised to indicate a 1.1% monthly decline, from a 0.7% decline previously reported. Also Tuesday: earnings results from Advanced Micro Devices (AMD), Ford (F) and Starbucks (SBUX), after the close. On Wednesday, the April ADP Employment report came in well ahead of expectations. Estee Lauder (EL) and Emerson Electric (EMR) reported earnings before the opening bell. Later Wednesday, the April ISM services report was 51.9%, a tick better than the 51.8% expected. The Federal Reserve announced an expected increase of 25 basis points to the federal funds rate. Bausch Health, Apple and Coterra Energy all reported quarterly results, while initial jobless claims for the week ended April 29 increased by 13,000 from the prior week to 242,000, slightly ahead of the 240,000 expected. As of Friday's settle, the U.S. dollar index is trading a little above 101. Gold is trading at around $2,000 per ounce. WTI crude prices are hovering the low-$70s per barrel. The yield on the 10-year Treasury remains around 3.45%. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. U.S. President Joe Biden speaks with members of his "Investing in America Cabinet" in the Roosevelt Room at the White House in Washington, May 5, 2023. Leah Millis | Reuters

https://www.cnbc.com/2023/05/05/regional-bank-stocks-could-be-a-market-afterthought-in-the-week-ahead.html

VTR

Ventas

Regional bank stocks could be a market afterthought in the week ahead

For the immediate economic and earnings and growth outlook, it almost seems irrelevant whether regional bank stocks rally, steady or sell off more next week. Regional banks were top of mind for investors this past week, as First Republic failed , the SPDR S & P Regional Banking ETF tumbled more than 10% — twice the five-day loss in the S & P 500 Energy Index, the hardest hit S & P sector — and lenders such as PacWest Bancorp and Western Alliance Bancorp lost billions in market value. And, for all that, the S & P 500 only fell about 0.75% this week. Now the conventional wisdom on Wall Street is that regardless of how the regional bank stocks trade, it's a given that bank lending officers are going to pull in their horns and risk management desks will grow more risk averse. In other words, credit will be harder to come by. Fed Chair Jerome Powell was asked at his press conference Wednesday about the survey of banks' senior loan officers "because the market is focused on how much of a slowdown are we going to see in lending as lending standards climb, and banks are much more careful and restrictive in terms of issuing new loans," said Quincy Krosby, chief global strategist at LPL Financial in Charlotte, NC. As a result, Krosby will also scan next Tuesday's National Federation of Independent Business report for April, to see whether small business owners are having trouble getting loans or are reporting the borrowing environment is more restrictive. "Because if yes, we actually do see a more stringent lending environment, it will certainly help the Fed" to slow the economy and tamp demand. What's more, by the start of next week there'll be less than four weeks until the earliest date the Treasury might breach the debt limit, according to Treasury Secretary Janet Yellen's latest letter to Congress . That will lean on the market "heavily" if it coincides "with evidence that tighter bank lending conditions are feeding into higher unemployment and greater recessionary risks," Goldman Sachs chief global equity strategist Peter Oppenheimer said in a note late in the week. There were no signs of higher unemployment Friday, when the April unemployment rate came in at 3.4%, the lowest since 1969, and nonfarm payroll growth was far above Wall Street estimates. Debt ceiling takes focus The debt ceiling deadlock has already begun to focus investors' hive mind. While the capital markets assumed the debate inside the Federal Reserve this week was solely about the trade-off between raising rates to fight inflation versus the pain that's inflicted on U.S. regional banks, "Another story which the Fed would almost certainly have discussed is a potential default if the U.S. government runs out of cash to pay its bills," said Huw Roberts, head of analytics at Quant Insight in London. "The political impasse is getting worse." The Fed wrapped up its two-day meeting on Wednesday by boosting its benchmark fed funds rate a quarter point to a top 5.25%. With only about 30 companies in the S & P 500 reporting earnings next week (most notably Disney , post-market Wednesday), down from about 175 this week, attention instead will center on the April consumer price index that the Bureau of Labor Statistics will release next Wednesday morning. The consensus view among economists is that, excluding volatile food and energy prices, the "core" rate of inflation eased only slightly last month, to 0.3% from 0.4% in April, while the year-over-year annual increase slowed to 5.4% in April from 5.6% in March. Progress, perhaps, but still far above the Federal Reserve's 2% inflation target. Markets in a range Friday's stock market rally notwithstanding, Goldman Sachs sees equity markets continuing to be marked by a "fat and flat" trading range, noting that global stock markets have rallied some 17% since the October low. "The more recent troubles in the banking system generated a brief period of contagion fear but led to expectations of imminent interest rate cuts which have since faded, partially, on the back of more resilient growth data," strategist Oppenheimer wrote. But stocks still face a host of issues, none of which are going away next week. Goldman points to the risk of a slower economy than would have otherwise prevailed in the second half as a result of fall-out from the bank crisis and tightening lending conditions that will combine to slice about 0.4% from 2023 GDP growth. What's more, "inflation, while showing signs of moderating, remains sticky. The labor market remains tight and wage inflation is rising. The tightness of the labor market continues to be a double-edged sword, supporting consumption on the one hand but contributing to a higher-for-longer risk of inflation on the other," in Goldman's view. Meanwhile, the Cboe Volatility Index reading below 17 late Friday suggests a high degree of complacency in the market, a very small number of stocks are contributing the vast amount of strength to the market indexes, and "high cash returns mean that there are now reasonable alternatives (TARA) and that provides a very high bar for equities," Goldman said. Indeed, Barclays Investment Bank said on Friday that money market funds once again attracted more than $50 billion in the most recent week, have risen for nine weeks out of the past 10, and so far this year have drawn almost $700 billion from investors. Flows into fixed income investments have totaled some $130 billion so far in 2023, Barclays said. "What was seen as a pivotal week for markets has not moved the needle much on the conundrum investors are facing," said strategist Emmanuel Cau. "Equities are in late-cycle limbo, torn between peak rates hope and recession fear." Week ahead calendar Monday 10 a.m. Wholesale inventories (March) 2 p.m. Fed Senior Loan Officer Opinion Survey Earnings: Viatris, Tyson Goods, Dish Network, McKesson, Skyworks Solutions, Western Digital, DaVita, Paypal Tuesday 6 a.m. NFIB Small Business Index (April) Earnings : Waters, Catalent, Air Products & Chemicals, Fox Corp., International Flavors & Fragrances, Duke Energy, Henry Schein, Jacobs Solutions, Ventas, Devon Energy, TransDigm, Akamai, Axon Enterprise, Electronic Arts, Occidental Petroleum Wednesday 8:30 a.m. CPI (April) Earnings : Celanese, Lincoln National, Disney Thursday 8:30 a.m. PPI (April) 8:30 a.m. Initial jobless claims (week ended May 6) Earnings : Tapestry, PerkinElmer, Charles River Laboratories, Steris, Gen Digital Friday 8:30 a.m. Import/export price indexes (April) 10 a.m. University of Michigan consumer sentiment index (May preliminary) — CNBC's Hakyung Kim, Fred Imbert and Michael Bloom contributed to this report.

https://www.cnbc.com/2023/04/25/las-acciones-caen-ante-el-regreso-de-los-temores-bancarios-entre-los-inversores.html

VTR

Ventas

Las acciones cerraron a la baja el martes ante el regreso de los temores bancarios entre los inversores, Dow perdió más de 300 puntos

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 29, 2023. Brendan Mcdermid | Reuters

https://www.cnbc.com/2023/03/31/stocks-making-the-biggest-moves-midday-dwac-bbby-nkla-and-more.html

VTR

Ventas

Stocks making the biggest moves midday: Bed Bath & Beyond, Digital World Acquisition, Nikola and more

An exterior view of a Bed Bath & Beyond store on February 7, 2023 in Clifton, New Jersey. Check out the companies making headlines in midday trading. Bed Bath & Beyond — Shares continued to slide in Friday's session with a 28% tumble. On Thursday, the company once again warned that it may need to file for bankruptcy protection if its proposed $300 million stock offering fails. The retailer's stock has lost nearly 40% of its share value this week. Digital World Acquisition — Shares of the SPAC linked to former President Donald Trump advanced 7.6%. On Thursday, a New York grand jury formally indicted Trump on charges related to "hush money" payments made before his 2016 campaign. Nikola — Nikola shares sank 13.6% after the electric-truck maker announced plans for a $100 million secondary stock offering priced 20% below Thursday's close. Virgin Orbit — The satellite launch services provider dived 41.2% after announcing it will halt operations "for the foreseeable future" and eliminate about 90% of its workforce. BlackBerry — BlackBerry popped 14% after the company posted a smaller per-share earnings and adjusted EBITDA loss than analysts polled by StreetAccount expected for the fourth quarter. The company's revenue, however, missed analyst expectations. Regional banks — Shares of closely followed regional bank stocks advanced, with the SPDR S&P Regional Banking ETF (KRE) up 1%. Metropolitan Bank led the index with a 33.6% jump. PacWest and Popular were also among top performers, adding more than 3% and 4%, respectively. Zions , on the other hand, was among the worst performers of the group with a 1.2% loss. Ventas — The real-estate investing stock slid 1.5% after announcing it would take ownership of collateral supporting a nearly half-billion dollar loan. Generac Holdings — The battery backup company dropped 3.5% following a downgrade to underperform from neutral by Bank of America. The firm said Generac's fiscal year 2023 expectations could be out of reach. Alphabet — The Google parent gained 2.8% after Piper Sandler reiterated its overweight rating on the stock. The firm said the company has undeniable market share but could see search revenues impacted by artificial intelligence. Restaurant Brands — Shares of the parent company of Burger King rallied 2.9% after TD Cowen upgraded the stock to outperform from market perform. The Wall Street firm said it's bullish on Restaurant Brands' new chairman and CEO and the company's potential to turn around the brand. elf Beauty — The cosmetic company's stock gained 4.4%, reaching a 52-week high. Shares jumped after Morgan Stanley said elf has nearly 20% upside. The analyst said the company has strong momentum on both near- and long-term growth and reiterated his overweight rating on the stock. Mercadolibre — Shares rose 4.1% after Morgan Stanley named the Latin American e-commerce company a top pick. The firm said it sees multiple growth drivers ahead. — CNBC's Samantha Subin, Yun Li and Hakyung Kim contributed reporting

https://www.cnbc.com/2021/03/04/as-nasdaq-goes-negative-for-the-year-watch-out-if-you-own-these-high-multiple-shares.html

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Verisign

As Nasdaq goes negative for the year, watch out if you own these high-multiple shares

The tech-heavy Nasdaq Composite just went negative for the year and fell into a 10% correction on an intraday basis, so investors still chasing high-multiple names in the index could get burned further if the downtrend continues. Following a 2.2% drop in the technology-heavy index, the Nasdaq Composite went negative for the year on Thursday. The Nasdaq Composite is now down 1.5% for 2021, pressured by rising interest rates exposing the high valuations of many of the index members. The U.S. 10-year Treasury yield rose to 1.54% on Thursday and Federal Reserve Chair Jerome Powell failed to soothe investors that the central bank would take any measures to temper the volatile bond market. High multiple stocks, more specifically equities with high price-to-sales ratios, can be at risk of compressed valuations when rates rise and reduce the value of future cash flows. Rising rates also impact how cheaply a company borrows money, a practice tech companies rely on in order to invest in themselves and their growth products. "You can't have a rally in these high-multiple stocks unless you reverse some of the 50 basis points increase that we've had in the Treasurys since the year started," CNBC's Jim Cramer said on "Squawk Box " on Thursday . "I don't think you even have to look at the stocks. All you've got to do is look at the bond." "These high-multiple stocks that did really well during the pandemic don't really have underpinnings," Cramer said later on "Squawk on the Street. " "Even though they're doing well, you'd much rather buy Boeing." CNBC Pro screened for stocks that investors should watch out for in this rising rate environment. All the names are in the Nasdaq-100 and are ranked by price-to-sales ratios based on 2021 estimated revenue. Plus, we screened for the high-multiple stocks that are not well-loved on Wall Street, with more than half the analysts covering them saying not to buy. Cramer said the rise in yields has put companies like Tesla up against a wall. Tesla has a 12.4 price-to-sales estimate for this year, according to FactSet consensus. Only 23.5% of the analysts that cover Tesla recommend buying the name. Shares of Telsa have run up about 330% in the past 12-months but have pulled back recently with the uptick in rates. Other high-multiple tech names on CNBC's list include Zoom Video , Verisign , Ansys , Xilinx and Advanced Micro Devices . Zoom Video is up 200% in the past year as the video conferencing company emerged as a major winner from the pandemic. The company posted better-than-expected earnings and revenue this week; however, Zoom Video's finance chief Kelly Steckelberg said she expects higher churn rates to persist as people start to travel more. Plus, only about a third of analysts that cover Zoom recommend buying the stock at these levels. Intuitive Surgical , Illumina , Booking Holdings , Texas Instruments and Maxim Integrated Products are also on the list. Verisk Analytics , Paychex , Check Point Software and KLA are also risky plays as rates continue to rise. — with reporting from CNBC's Kevin Stankiewicz. Disclosure: Cramer's charitable trust owns shares of Boeing. Tesla: Hell of a Ride

https://www.cnbc.com/2015/03/30/street-picks-10-stocks-ready-to-drop.html

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Verisign

Street picks: 10 stocks ready to drop

A small number of stocks in the S & P 500 could be due for a pullback as investors may have become overly bullish in some of these names. Recent figures show that about 3 percent of the S & P 500 components deviated from the rest of the benchmark based on where analysts believe these stocks should be trading. They could be the first to drop if the stock market is deemed overvalued in the short term. "We do believe the market appears expensive in multiple fronts," said Jack Ablin, chief investment officer at BMO's Private Bank. He thinks there's more "downside risk than upside potential" due to steady downward revisions of estimates ahead of the first-quarter earnings season, which is set to roll out in the next two weeks. As shareholders brace for what could be a bleak quarter, CNBC Pro screened for stocks in the S & P that could be due for a drop based on where they trade compared to the consensus 12-month price target set by analysts and tracked by FactSet. Investors often look for large deviations in the market versus the Street's outlook as opportunities either to buy or sell with the assumption that equities or other asset classes tend to return to their mean value. Read More Merger Monday is back. What to buy Most of the companies that made the list belong to the health care, consumer discretionary and tech sectors, which have led the recent bull advance. This year, health-care stocks rallied 8 percent, boosted by demand for biotech and health-management companies. That compares to a 1 percent increase for the S & P over the same period. But as some of these stocks trade higher, analysts on the street flag to a potential pause or drop in the shares. Consider Coach , for example, whose stock is up 27 percent from its low in November, while analysts rate the stock a "hold." "In my opinion, much of the recent move [in ticker 'COH'] is due to takeover speculation; a short squeeze; and technical indicators, as opposed to investors that see value here," wrote Ronnie Moas, director of research at Standpoint Research. He recommends selling the stock into strength, and believes there's a "good chance that a market correction and/or slip by Coach" in 2015-16 will provide a better entry point in the mid-$30s. Paychex is another name that appears ripe for a pullback. "We maintain our thesis that PAYX is susceptible to diminished pricing power as a result of a largely saturated end market and increased competition from established and newer players in the small business payroll/HRS outsourcing space," warned analysts at Jefferies. They think the valuations for ticker 'PAYX' (trading at 24.5x C16 EPS) are "overextended." In fact, investors seem to agree with analysts' projections that some of these stocks are due for a drop. Among the names CNBC Pro identified as overvalued, Transocean , VeriSign , Quest Diagnostics , People's United Financial , Coach and Campbell Soup , all have short interest ratios of at least 8 percent of float. Transocean is the most shorted stock of the group, with a third of its float sold short. Shares of the offshore drilling company are down 65 percent in the past year, but analysts believe the stock could go even lower as refinancing becomes more difficult due to below-par investment grade credits. Adam Jeffery | CNBC

https://www.cnbc.com/2014/06/03/two-stocks-costing-buffett-500m-this-year.html

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Verisign

Two stocks costing Buffett $500M this year

Warren Buffett may have a magic touch with stocks, but two stocks have tarnished that touch for the year. Two stocks that Buffett owns, Coca-Cola and Goldman Sachs , are completely missing out on the market's rally this year. Since Berkshire's holdings in those stocks are so massive, the declines sting that much worse. The holdings are based on the company's most recent quarterly filings with regulators. Read MoreBuffett's Blizzardsinvade Manhattan The biggest losing stock for Berkshire has been Coca-Cola. The stock is only down 1.4% this year, which may not sound all that bad. But Berkshire owns more than 400 million shares of the stock so the decline translates in a $236 million loss for the famous holding company.

https://www.cnbc.com/2014/03/17/midday-movers-general-motors-yahoo-more.html

VRSN

Verisign

Midday movers: General Motors, Yahoo & More

Take a look at some of Monday's midday movers: Hertz Global Holdings - Shares of the car-rental company gained 5 percent after The Financial Times reported Hertz planned to spin off its construction equipment rental division, citing people with knowledge of the matter. Yahoo - The online-search engine jumped 4 percent after Chinese e-commerce site Alibaba said it would begin the process of launching an initial public offering in the U.S. later this year. Yahoo owns a 24 percent stake in Alibaba. General Motors - Shares of the auto manufacturer ticked slightly higher after GM said it would incur a $300 million first-quarter charge to over costs associated with an ignition-switch problem and other recall costs.

https://www.cnbc.com/2014/06/27/midday-movers-dollar-general-dupont-nike-more.html

VRSN

Verisign

Midday movers: Dollar General, DuPont, Nike & More

Crumbs Bake Shop - The cupcake retailer declined after saying the Nasdaq Stock Market on the exchange and intends to suspend trading of its shares on Tuesday. Aware - The supplier of biometrics software and services jumped after declaring a special cash dividend of $1.75 a share. Amedisys - The hospice and at-home provider of health care rose after forecasting an unexpected profit for its second quarter. Take a look at some of Friday's midday movers: Dollar General - The discount retailer fell after sticking with its lowered full-year profit outlook and saying its CEO would retire at the end of May 2015 or upon a successor's appointment. DragonWave - The provider of communications equipment rose after CIBC World Markets upgraded its shares to "sector outperform" from "sector underperform." DuPont - The chemicals supplier fell after for the second quarter and full year. GoPro - The video-camera maker surged in its second day on the public markets. Keurig Green Mountain - The specialty coffee company jumped after Argus Research upgraded its shares to "buy" from "hold." Nike - The outfitter of multiple World Cup teams gained after reporting quarterly results that beat expectations. VeriSign - The provider of online domain registry services dropped after Wells Fargo downgraded its shares to "market perform" from "outperform." —By CNBC's Kate Gibson. Questions? Comments? Email us at marketinsider@cnbc.com

https://www.cnbc.com/2015/03/03/these-tech-stocks-could-be-set-to-break-out.html

VRSN

Verisign

These tech stocks could be set to break out

A group of once high-flying tech names could be breaking out or on the verge of breaking out 15 years after they played a starring role in the tech bubble. As Nasdaq regains 5,000 for the first time in 15 years, Oppenheimer sees potential for a group of technology stocks in the Technology Select Sector SPDR Fund ETF (XLK) to burst ahead. On the list, Microsoft and Intel , two dominant forces in the 1990s technology boom, but stocks that have never regained their 2000 trading highs. "Some of them have already broken out," said Ari Wald, Oppenheimer technical strategist. Wald said his time frame is the next one to two quarters. His breakout picks include Computer Sciences Corp , Cognizant Technology Solutions , Paychex , and Total System Services in IT services. Names in the internet software and services area include Akamai , Ebay , Verisign and Yahoo . Also included were Autodesk , Broadcom, Linear Technology , Microchip Technology , Cisco , EMC Corp , Harris Corp and Corning . "With what we're seeing in the overall market, they're set up to do it now," said Wald. "We are bullish the overall market," he said. "We are in the 'bull market continues' camp. One thing that's very encouraging is the internal breadth. Participation in the market has been high." Microsoft CEO Satya Nadella Getty Images

https://www.cnbc.com/2015/03/02/street-picks-10-stocks-that-are-ready-to-drop.html

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Street picks: 10 stocks that are ready to drop

As the market marches to new highs, about 20 percent of the stocks in the S & P 500 could be due for a pullback, according to analysts' price forecasts. Recent figures show that one-fifth of the S & P 500 components surpassed consensus levels from Wall Street firms and 10 percent are trading at or near those levels. Most of these stocks belong to the consumer discretionary and tech sectors—both up more than 7 percent in the past month. So perhaps that's been too much, too fast. While Apple didn't make the list, the world's biggest company did close at a record price of $133 last Monday, 15 cents away from the consensus price forecast set by 41 financials analysts. The stock is currently off 3 percent from that level after climbing 18 percent last month. Of the 100 stocks that are expected to fall, the chart displays the ones that are facing the biggest potential drop. Source: CNBC, FactSet With data from FactSet, CNBC screened for stocks in the S & P that could be due for a drop. Even though analysts tend to be overly bullish, the names mentioned on this article have blown past the average price forecast for the next 12 months. Consider Motorola Solutions , which is trading more than 7 percent above its target price. The stock rallied 22 percent from the market low on Oct. 15 to a recent high of $70.26, but retracted 4 percent since then. "Unless the company [Motorola Solutions] is able to return to growth, we think operating leverage and increased cash flow generation will not happen," Deutsche Bank said in a recent note. The bank points to the "lack of a real catalyst here" and rates the stock a "hold" with a target of $60. Read More The 5 best ideas on Wall Street this week Within the 10 stocks on the list, the average return over the past six months stands at 13 percent compared with a gain of 5 percent for the S & P. Coach and VeriSign are up more than 16 percent in the past month alone. Both stocks have short interest as a percentage of float of 9 percent and 17 percent, respectively. If analysts haven't ratcheted up price targets after six months of strong gains, they may be telling us that it's time for a pause or drop in these shares. All the stocks here have a consensus "hold" rating, according to FactSet, with the exception of Campbell Soup, which has an "underweight" rating. But those who follow analysts closely know that price targets show their true feelings. Estimates for Campbell were recently lowered to $42 from $43 at JPMorgan, due to concerns over "currency and inflationary headwinds to gross margin." The firm, which has an underweight rating on the stock, highlighted that it remains "cautious on fundamentals." People in an Apple Store in Chongqing, China. ChinaFotoPress | Getty Images

https://www.cnbc.com/id/100678189

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Early Movers: VFC, DHI, TYC & More

(Read More: See the Day's Top Percentage Winners & Losers) J.C. Penney - Investor George Soros took a 7.9 percent passive stake in the retailer, making it the fifth-largest among J.C. Penney shareholders. Amazon.com – The online retailer reported first-quarter profit of $0.18 per share, 10 cents above estimates, though revenue was slightly short of estimates. One of the most positive notes in Amazon's report was a gross profit margin of 26.6 percent, the highest in at least 10 ears. Starbucks – Starbucks reported fiscal second-quarter profit of $0.48 per share, in line with estimates, though its current-quarter profit outlook is short of what analysts had been anticipating. For the full year, the coffee chain has raised its earnings-per-share outlook to $2.12 to $2.18 per share, compared to consensus estimates of $2.16 a share, as U.S. sales increase. Expedia – Expedia earned $0.25 per share for the first quarter, excluding certain items, two cents above estimates, with revenue also beating analyst estimates. The travel services provider's growth has been helped by technology upgrades, with gross bookings up 16 percent in the latest quarter. Yahoo - Chairman Fred Amoroso resigned effective immediately, to be replaced by current director Maynard Webb Jr. Amoroso had told Yahoo when he became chairman last year that he only intended to serve for one year. Goodyear Tire - Goodyear earned $0.45 per share for the first quarter, excluding certain items, 15 cents above estimates. Revenue, however, was below estimates, partly on weakness on Goodyear's European markets. Baidu – Baidu reported first-quarter profit of $1 per share, excluding certain items, missing estimates by three cents. China's largest search engine saw its results impacted by higher traffic acquisition costs. Coinstar – Coinstar earned $0.93 per share for the first quarter, seven cents above estimates, and raised its full-year profit forecast. The improved forecast comes on stronger growth for its Redbox video rental business. Separately, Coinstar is planning to change its corporate name to Outerwall, pending shareholder approval. VeriSign – VeriSign earned $0.58 per share for the first quarter, excluding certain items, four cents above estimates, with revenue beating forecasts, as well. The Internet domain name provider also reported improved profit margins. Wynn Resorts – The casino operator reported first-quarter profit of $2.03 per share, excluding certain items, well above estimates of $1.55 a share. The beat came on the strength of increased revenue from its operations in Macau. International Game Technology – IGT scored a six cent earnings beat with fiscal second-quarter profit of $0.36 per share. Revenue also beat estimates on improved sales of its slot machines, and IGT also raised its full-year forecast. Humana - Humana raised its quarterly dividend to $0.27 per share from $0.26 a share. The hospital operator's increased payout will come on July 26 to shareholders of record as of June 28. United Parcel Service – UPS reached a tentative five-year deal with the Teamsters Union that covers nearly 250,000 workers. The current contract expires on July 31.

https://www.cnbc.com/id/100740193

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Verisign

Warren Buffett's Berkshire Hathaway Eliminates Two Small Stakes

Warren Buffett's Berkshire Hathaway has eliminated its holdings of two stocks: Archer Daniels Midland and General Dynamics, according to the quarterly filing with the SEC that lists its portfolio of U.S. publicly traded stocks as of March 31, the end of the first quarter. Neither of the stakes were very large by Berkshire standings. The almost 6 million shares of ADM Berkshire held as of December 31 would be worth almost $207 million. The 3.9 million General Dynamics shares held at the end of last year would be worth $297 million today. The small size of those stakes indicates they were sold by one of Berkshire's portfolio managers, not by Buffett himself.

https://www.cnbc.com/id/100674817

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After-Hours Buzz: YHOO Chairman Fred Amoroso Resigns ... AMZN, JCP & More

Check out which companies are making headlines after the bell Thursday: Yahoo - The Internet company announced that Fred Amoroso has resigned as Chairman. In addition, the company said that Amoroso has decided not to see reelection to the board of directors at the upcoming 2013 annual meeting of shareholders. Maynard Webb, Jr. will serve as interim Chairman of the company. Shares were largely unchanged in extended-hours trading. (Read More: S&P, Nasdaq Log 5-Day Win Streak; Energy Lags) Amazon.com - The online retailer posted earnings of 18 cents a share, exceeding expectations by a dime a share, while revenue was slightly below estimates at $16.07 billion versus estimates for $16.15 billion. Meanwhile, the company handed in current-quarter revenue guidance that was in the lower end of expectations. Shares slumped in extended-hours trading. Starbucks - The coffeehouse giant posted earnings 48 cents a share, in line with expectations, while revenue fell slightly short of estimates at $3.56 billion against forecasts for $3.59 billion. In addition, the company handed in a weaker-than-expected current-quarter and fourth-quarter earnings guidance, sending shares lower in extended-hours trading. JCPenney - Investor George Soros reported a 7.9 percent passive stake in the retailer, according to a SEC filing. Shares spiked in extended-hours trading.

https://www.cnbc.com/2023/05/28/turkey-election-erdogan-ahead-after-acrimonious-campaigns.html

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Verisk

Turkey votes in runoff election after candidates double down on nationalism and fear

People walk past an election campaign poster for Turkey's President Recep Tayyip Erdogan on May 25, 2023 in Istanbul, Turkey. The country is holding its first presidential runoff election after neither candidate earned more than 50% of the vote in the May 14 election. Chris Mcgrath | Getty Images News | Getty Images Millions of Turks are casting their ballots Sunday for the second time in two weeks to decide the outcome of what has been the closest presidential race in Turkey's history. The powerful incumbent President Recep Tayyip Erdogan, 69, faced off against opposition leader Kemal Kilicdaroglu in what many described as a the most serious fight of Erdogan's political life and a potential death blow to his 20-year reign. But the initial round of voting – which saw a tremendous turnout of 86.2% – proved a disappointment for the opposition, with the 74-year-old Kilicdaroglu trailing by roughly 5 percentage points. Still, no candidate surpassed the 50% threshold required to win; and with Erdogan at 49.5% and Kilicdaroglu at 44.7%, a runoff election was set for two weeks after the first vote on May 14. The winner will preside over a divided country in flux, a cost-of-living crisis, complex security issues, and – as the second-largest military in NATO and a key mediator between Ukraine and Russia – an increasingly crucial role in global geopolitics. watch now Country analysts are all but certain of an Erdogan victory. "We expect Turkey's President Erdogan to extend his rule into its third decade at the run-off election on 28 May, with our judgment-based forecast assigning him an 87% chance of victory," Hamish Kinnear, senior MENA analyst at risk intelligence firm Verisk Maplecroft, wrote in a research note. In the span of two short weeks, some of the candidates' campaign messaging has changed dramatically, and both contenders have doubled down on malicious accusations, hard-core nationalism, and scapegoating. 'Send all refugees home' Kilicdaroglu, known for his more conciliatory, soft-spoken demeanor, made a stunning lurch toward xenophobia and fear-mongering as part of his runoff campaign strategy, tapping into widespread Turkish discontent toward the country's more than 4 million refugees. He promised to "send all refugees home" if elected, and accused Erdogan of flooding the country with them. He also claimed that Turkey's cities would be at the mercy of criminal gangs and refugee mafias if Erdogan were to stay in power. The vast majority of refugees in Turkey are from neighboring war-torn Syria. Kemal Kilicdaroglu, the 74-year-old leader of the center-left, pro-secular Republican People's Party, or CHP, delivers a press conference in Ankara on May 15, 2023. Bulent Kilic | Afp | Getty Images Previously, Erdogan's top rival had been running on a platform of reclaiming economic stability, democratic values and better relations with Europe and NATO. Kilicdaroglu's new strategy appeared to be in response to the fact that a third party hardline nationalist candidate, Sinan Ogan, won just over 5% of the vote on May 14, essentially making him a kingmaker. Whoever Ogan endorsed would likely gain a potentially decisive portion of his voters – and despite Kilicdaroglu cranking up the nationalist and anti-refugee rhetoric, Ogan ultimately endorsed Erdogan. "Kilicdaroglu has adopted a harder line on immigration and security ahead of the run-off … is unlikely to be enough," Kinnear said. Erdogan's supporters, meanwhile, circulated numerous fake posters and videos aimed to look like Kilicdaroglu's party, the CHP, supported Kurdish militant groups that Ankara classifies as terrorists. German news outlet DW reported that the posters were fake, citing Turkish fact-checking organization Teyit.org. And in a televised interview on Tuesday, Erdogan admitted to screening doctored footage during his campaign rallies of Kilicdaroglu that falsely portrayed the latter convening with Kurdish militants. watch now In a surprise twist, a far-right wing, anti-migrant party called Victory Party threw its support behind Kilicdaroglu on Wednesday, due to his pledge to return refugees to Syria — splitting right-wing groups between the two presidential contenders. "Now we have two anti-refugee political leaders supporting the rival candidates," Ragip Soylu, Turkey bureau chief at Middle East Eye, pointed out in a Twitter post. Economy, earthquakes Erdogan's continued and seemingly unshakeable popularity comes despite several years of economic deterioration in the country of 85 million. Turkey's lira lost roughly 80% of its value against the dollar in five years and the country's inflation rate is around 50%, thanks in large part to the president's unorthodox economic policy of lowering interest rates despite already high inflation. And a series of devastating earthquakes in February killed more than 50,000 people, a tragedy made worse by a slow government response and reports of widespread corruption that allowed construction companies to skirt earthquake safety regulations for buildings. People carry a bodybag as local residents wait for their relatives to be pulled out from the rubble of collapsed buildings in Hatay, on February 14, 2023, after a 7.8-magnitude earthquake struck the country's south-east. Bulent Kilic | Afp | Getty Images But Erdogan appears largely politically untouched; he still won the most votes in Turkey's eastern earthquake-hit provinces, which are overwhelmingly Islamically conservative. Additionally, his powerful AK Party won the majority in Turkey's Parliament, meaning his opponent would have far less power as president. "Erdogan wasted no time in calling on voters to back him to avoid a destabilizing split between the parliament and president," Kinnear said. Kilicdaroglu, meanwhile, has appealed to the 8 million Gen Z and Kurdish voters who did not vote in the first round to come out and back him. Already, though, his anti-refugee rhetoric has angered many of his supporters and prompted resignations from some of his campaign allies. With the incumbent's victory looking ever more secure, analysts aren't holding their breaths for a return to economic normality. Already Turkey's central bank is aggressively imposing new regulations to stifle local lira purchases of foreign currency, in an effort to prevent further falling of the lira. The currency dipped to its lowest level against the dollar in six months after the first round of voting, when Erdogan's lead became clear. watch now

https://www.cnbc.com/2019/03/01/trump-says-north-korea-can-be-economic-power-but-experts-disagree.html

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Trump says North Korea can be a 'great' economic power, but experts say it's uninvestable

U.S. President Donald Trump walks with North Korean leader Kim Jong Un during the U.S.-North Korea summit in Hanoi on Feb. 28, 2019. With U.S. President Donald Trump declaring repeatedly that North Korea can become "one of the great economic powers" in the world, risk consultancy Verisk Maplecroft tested that claim and found that the rogue state ranks as the least investable country in the world. Despite the president's claims, "Kim Jong-un's authoritarian regime has been classified as the world's most perilous investment destination for business," Verisk Maplecroft said in a report published before the talks began. Other experts have also stressed that even if sanctions on Pyongyang were to be removed some day, risks for investors remain very high, as it is extremely unlikely that North Korea will overhaul itself politically and economically. Ahead of the failed summit with North Korean leader Kim Jong Un, which ended on Thursday without a deal, Trump had dangled the prospect of a stronger economy for the impoverished state — tweeting repeatedly on the topic. Experts say that was part of a negotiating tactic. Even after talks ended abruptly, the president continued to tout the possibility of the reclusive country becoming "an absolute economic power." "I think he's got a chance to have one of the most successful countries — rapidly too — on Earth," Trump said of Kim, at a press conference on Thursday at the end of the summit. "There is tremendous potential in North Korea, and I think he's going to lead it to a very important thing, economically. I think it's going to be an absolute economic power."

https://www.cnbc.com/2021/12/10/boric-vs-kast-chile-set-for-polarized-presidential-election-run-off.html

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'One of two extremes': Chile set for its most divisive election run-off since returning to democracy

A supporter of candidate for Convergencia Social Gabriel Boric shouts slogans at the end of the Presidential Elections on November 21, 2021 in Santiago, Chile. Marcelo Hernandez | Getty Images News | Getty Images Voters in Chile face an era-defining choice. The presidential run-off on Dec. 19 will see citizens of Latin America's small but wealthy Andean nation cast their ballots in favor of one of two outsider candidates promising to chart wildly different paths. Polls suggest that leftist lawmaker and former student activist, Gabriel Boric, has a slender lead over his ultra-conservative rival, Jose Antonio Kast, although a volatile social mood means the race is likely to go down to the wire. Whatever the outcome, the second round will bring about the most profound political shift since the country returned to democracy in 1990. "There are no moderates anymore," Shreya Mukarji, research analyst at the Economist Intelligence Unit, told CNBC via video call. "So, we will really see exactly how Chilean society is divided in terms of the political spectrum. It is about choosing one of two extremes," Mukarji said, noting that Kast is "much more" extreme right than Boric is extreme left. Millions of people in Chile took part in anti-inequality demonstrations in late 2019 and 2020 to demand improvements to their quality of life and to vent their anger at the legacy of Pinochet-era privatized social services. The prolonged protests helped to pave the way for a redrafting of the country's constitution. A referendum on whether to approve the new charter will be held next year. So, basically either Boric or Kast get elected [and] six months in, you might have a completely new playbook coming your way. Mariano Machado Senior Americas Analyst at Verisk Maplecroft Chile, a country of roughly 19.3 million that stretches down South America's Pacific coast, is the world's top copper-producing country. It also has the largest known reserves of lithium — a lightweight metal that is an essential component to manufacturing batteries for electric vehicles. Who's going to win? Kast, a former congressman and father of nine who has been likened to Brazil's Jair Bolsonaro and former U.S. President Donald Trump, won the first round on Nov. 21 with some 28% of the vote. The 55-year-old led a field of candidates who fell well short of the majority needed to secure an outright victory. Boric, 35, who rose to prominence in 2011 as a protest leader demanding improvement to the country's education system, won about 26% in the first round — a close second to Kast. No contender has won the Chile presidency after losing the first round. Yet, opinion polls have repeatedly shown Boric to be the most likely winner next week. Presidential candidate Gabriel Boric speaks to supporters during the presidential elections campaign closing rally on November 18, 2021 in Casablanca, Chile. Claudio Santana | Getty Images News | Getty Images Analysts told CNBC that Boric is the slight favorite to win the run-off. However, they cited two factors that could tip the scales in either candidate's favor: The possibility of low voter turnout — which came in at 47.3% in the first round — and a still sizeable number of undecided voters. "It is going to be a competitive election," Maria Luisa Puig, director of Latin America for Eurasia Group, a political risk consultancy, told CNBC via telephone. Puig said it had been her team's view for a while that Boric would be most likely to win, highlighting "strong discontent" with the status quo. She added that "[President Sebastian] Pinera's approval rating has been very low for most of his term, which suggests that there is a demand for change and therefore that the left — in this case, Boric — starts with an advantage." What would a Boric or Kast presidency look like? Boric has said he wants the Chilean state to do more to provide and guarantee social rights. He has pledged, if elected, to scrap the country's private pension system, raise taxes on the "super-rich" and strengthen the protection of indigenous people and the environment. He is running as the head of a broad alliance that includes Chile's Communist Party. Kast, meanwhile, has been able to tap into a segment of the electorate with a hardline stance on issues such as security and migration, calling for a "security barrier" to stop people from entering the country. He has praised the "economic legacy" of former dictator Augusto Pinochet and campaigned to reduce taxes and regulations. Chilean presidential candidate Jose Antonio Kast of the Republican Party greets supporters during the presidential elections campaign closing rally on November 18, 2021 in Santiago, Chile. Marcelo Hernandez | Getty Images News | Getty Images

https://www.cnbc.com/2023/05/10/lawmakers-press-data-brokers-to-reveal-how-they-buy-sell-information.html

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Lawmakers press companies that collect U.S. consumer data to reveal how they buy and sell it

Representative Cathy McMorris Rodgers (R-WA), chair of the House Energy and Commerce Committee speaks during the hearing with TikTok CEO Shou Zi Chew before the House Energy and Commerce Committee in the Rayburn House Office Building on Capitol Hill on March 23, 2023 in Washington, DC. A bipartisan group of lawmakers is pressing more than 20 data broker companies, including Equifax , Oracle and Whitepages, to reveal the types of information they collect on U.S. consumers and how they distribute it, according to letters shared exclusively with CNBC. In the letters, 10 lawmakers asked the companies for detailed responses on the types of sensitive information they gather, such as health, location and phone data, including apps consumers download to their devices. The companies were also asked what information they collect on minors. The push comes as the House Energy and Commerce Committee continues its review of data brokers, a key portion of the tech industry that collects and sells heaps of Americans' digital information. The letters ask whether the brokers consider any type of data to be off limits for them to buy or sell, what restrictions they put on data they share with third parties and how they verify the accuracy of the data they collect and distribute. Additional questions span from seeking to understand how much money the businesses make from selling data to how many sources they use to get that information. Last month, the subcommittee on oversight and investigations held a hearing with expert witnesses to examine "the role of data brokers in the digital economy." The letters indicate the committee remains focused on this slice of the tech industry as it looks to pass comprehensive privacy legislation. It also shows that Congress is focused on a broader swath of companies than just the massive players like Google and Facebook that attract so much scrutiny. The lawmakers point to a recent proposed settlement between the Federal Trade Commission and online mental health service provider BetterHelp, after the agency alleged the company shared sensitive customer data with third-party websites for advertising. "American privacy concerns in the data broker industry are not new, and existing laws do not sufficiently protect Americans' data from misuse," the letter said, adding that an FTC report in 2014 left wiggle room. In that report, the regulator recommended that Congress force brokers to give consumers greater control over their data, but the "data brokers can easily circumvent existing rules and laws," the letter said. Lawmakers who signed the letter include Committee Chair Cathy McMorris, R-Wash., and ranking member Frank Pallone, D-N.J., as well as several subcommittee chairs and ranking members: Reps. Morgan Griffith, R-Va., Kathy Castor, D-Fla., Brett Guthrie, R-Ky., Anna Eshoo, D-Calif., Bob Latta, R-Ohio, Doris Matsui, D-Calif., Gus Bilirakis, R-Fla., and Jan Schakowsky, D-Ill. Here's the full list of data brokers who received the letter:: Acxiom AtData Babel Street CoreLogic Solutions Epsilon Data Management Equifax Experian Gravy Analytics Intelius Kochava LiveRamp Mylife Oracle America PeopleConnect Placer.ai RELX Safegraph Spokeo Thomson Reuters TransUnion Verisk Analytics Whitepages Subscribe to CNBC on YouTube. WATCH: Facebook battles Apple over user privacy features in iOS update

https://www.cnbc.com/2023/05/17/sudan-one-month-on-why-cease-fires-are-failing-and-what-global-leaders-are-missing.html

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Sudan one month on: Why cease-fires are failing, and what global leaders are missing

KHARTOUM, Sudan - May 6, 2023: Sudanese Army sodliers walk near armoured vehicles stationed on a street in southern Khartoum, amid ongoing fighting against the paramilitary Rapid Support Forces. AFP via Getty Images One month after fighting between Sudan's two military factions broke out in the capital, Khartoum, internationally-brokered peace talks in Saudi Arabia have yielded no solution. Airstrikes and artillery continued to pound the country's capital and surrounding regions in recent days, and violence has also spread to the long-embattled Darfur region in the west. The International Rescue Committee (IRC) said Monday that more than 600 people had been killed and over 5,000 injured as a result of the fighting. The real toll is expected to be far higher. Almost a million people have fled their homes, both to locations within Sudan and across the border to neighboring countries. Meanwhile, those who have stayed put often have no access to essentials despite a commitment from the two warring factions to restore access to food and electricity. Prices of food and fuel have soared, exacerbating malnutrition and hammering the local economy. Warring generals Abdel Fattah al-Burhan, leader of the Sudanese Armed Forces, and Mohamed Hamdan Dagalo (or "Hemedti"), leader of the Rapid Support Forces, show no signs of halting the conflict as they vie for total control of the state's military and government, natural resources and 46 million inhabitants. The U.S., U.N. and Saudi Arabia are brokering talks between the two sides, though tentative cease-fires and commitments to allow humanitarian corridors into the sprawling country have collapsed almost immediately. 'The needs are immense' The IRC warned Monday that the humanitarian situation will continue to deteriorate unless all parties involved prioritize the protection of civilians. "We know there are many uncertainties for people right now, but one thing that's clear is the needs are immense, immediate and will be for a long time," said IRC Vice President for East Africa Kurt Tjossem. "The longer they remain in these conditions, the more vulnerable they become to disease, hunger, and other hardships." Things have come a long way from 2021 when Burhan and Hemedti led a military coup that ousted the civilian government of Abdalla Hamdok. Since then, the SAF and RSF had been sharing power in Khartoum to facilitate what most Sudanese citizens hoped would be a transition back to civilian rule. The World Bank and several global powers froze aid to the country after the military takeover, honoring calls from civilians not to legitimize its leadership. However, Burhan and Hemedti's divergent political visions were never reconciled, and the fragile power-sharing arrangement began to unravel in early April, culminating in the breakout of a full-scale conflict in Khaartoum on April 15. METEMA, Ethiopia - May 5, 2023: Refugees who crossed from Sudan to Ethiopia wait in line to register at IOM (International organization for Migration) in Metema, Ethiopia. Amanuel Sileshi / AFP via Getty Images In a speech at the UN Human Rights Council last week, U.K. Minister for International Development and Africa Andrew Mitchell stressed the importance of the international community in helping to revert Sudan to the "political track" by sending a "united message of concern and of horror" and breaking the "cycle of impunity in Sudan." Yet many Sudanese believe that despite the efforts of various regional and international bodies, the Jeddah talks — lacking a substantial civilian voice and the threat of harsh international sanctions against the generals and their respective inner circles — will not be part of the solution. Rewarding 'belligerence' Sudanese-Australian writer, broadcaster and activist Yassmin Abdel-Magied told CNBC last week that global leaders had inadvertently given Burhan and Hemedti political legitimacy and rewarded their "belligerence," leaving the majority of Sudanese who long for civilian government unrepresented. Both the SAF and RSF benefit from financial and political support from foreign powers including Egypt, the UAE, Saudi Arabia, and Libya, the University of Cambridge's Associate Professor Sharath Srinivasan told CNBC last month. While Benjamin Hunter from risk consultancy Verisk Maplecroft, said these close relationships make it more difficult for a resolution to the conflict to be found imminently. Targeted and collaborative efforts by the international community to exert pressure on the countries supporting Sudan's military factions were needed, Abdel-Magied said. "If [their] resource[s], financial and otherwise, can be throttled, then we might actually be able to find the right kind of incentive that's going to make them stop fighting," she told CNBC via telephone. watch now

https://www.cnbc.com/2023/05/04/wednesdays-top-analyst-calls-on-wall-street-including-regional-banks-.html

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Here are Thursday's biggest analyst calls: Apple, Western Alliance, Berkshire Hathaway, Wix & more

Here are Thursday's biggest calls on Wall Street: Bank of America moves to a no rating on Western Alliance Bank of America said it's moving to a no rating on shares of the regional bank, noting Western Alliance is caught in a "negative feedback loop." "We believe that WAL, and the broader regional banking group, are caught in a negative feedback loop driven by steep sell-off in stock prices that are feeding into deposit attrition fears. Raymond James upgrades Wix.com to outperform from market perform Raymond James said in its upgrade of Wix.com that it sees strong margins for the website developer. "Our upgrade is based on: 1) We expect continued steady bookings and revenue growth in 2023 (~10%) with continued strength in revenue/ subscriber. Additionally, we expect sub growth comps to ease in 2H23. 2) Expect Strong Margin Improvement in 2023/2024 and beyond." Citi downgrades Wingstop to neutral from buy Citi downgraded Wingstop mainly on valuation. "When married with a valuation (absolute/relative) approaching multi-year highs, we find it difficult to argue for much greater upside in shares over the next twelve months and therefore move to the sideline." DA Davidson initiates ZoomInfo as buy DA said the software data company is attractively valued and a Buffett-like investment. "We are initiating coverage of ZI with a BUY rating and a $30 target as a rare value investment within software. We see a strong competitive moat, substantial long-term opportunity and a uniquely attractive valuation." Goldman Sachs upgrades Cemex to buy from neutral Goldman upgraded the building material due to a "better than expected pricing environment." "We upgrade Cemex to Buy reflecting a better than expected pricing environment as evidenced by 1Q23 results." Read more about this call here. Berenberg initiates Mobileye and Ambarella as buy Berenberg said in its initiation of Mobileye that the autonomous driving tech company is an AI beneficiary. The firm also initiated Ambarella and said it's a "up-and-coming competitor with a differentiated offering, ex-automotive revenue, and long-term SAM expansion opportunities, all at a reasonable valuation." "We have entered a period of transformative innovation in the automotive industry, primarily driven by developments in AI and computing." Bank of America upgrades Verisk Analytics to buy from underperform Bank of America said the data analytics and risk assessment company is "defensive." "We upgrade Verisk Analytics to Buy from Underperform. We think the shares look attractive here due to VRSK's 1) defensive business model in an uncertain environment; 2) accelerating sales growth, which drives our higher EPS outlook." Citi upgrades Deutsche Bank to buy from neutral Citi said the global investment bank is at an "attractive entry point." " Deutsche Bank is one of the most de-rated banks YTD, yet the 1Q23 results demonstrated potential for further consensus earnings upgrades." Read more about this call here. Mizuho reiterates Robinhood as buy Mizuho said it's standing by its buy rating on the stock trading app company heading into earnings May 10. "In the midst of a turbulent earnings season, we expect a relatively 'boring' 1Q, which should be well-received. When it comes to financial stocks, boring is a good virtue to have." Rosenblatt reiterates Apple as buy Rosenblatt said it's standing by its buy rating heading into earnings on Thursday after the bell. " Apple confronts its March quarter earnings report post-close. We like the company longer term. In no way are we pushing investors to aggressively accumulate shares ahead of this report. A pullback might happen near term and provide a better opportunity. DA Davidson downgrades PacWest Bancorp to neutral from buy DA said in its downgrade of the PacWest that it sees too much uncertainty for the regional bank. "While the company has discussed certain asset sales (lender finance), an outright sale seems unlikely, in our view, given the current environment." Goldman Sachs upgrades Procore Technologies to buy from neutral Goldman said in its upgrade of the construction management software company that it sees "top line resilience." "We highlight the following key reasons for the upgrade: 1) Gaining conviction that Procore can deliver breakeven profitability in F24, benefiting from sustained revenue outperformance and higher marketing efficiency, 2) Ability to deliver upside to revised F23 guidance for 26% revenue growth." Baird upgrades Blackbaud to outperform from neutral Baird said the software solutions company for nonprofit and education is seeing " bottom-line improvements." "We believe BLKB 's pricing and crosssell initiatives can drive improved growth, while cost discipline should drive continued bottom-line improvements." Susquehanna downgrades Frontier to neutral from positive Susquehanna said in its downgrade of the discount airline that it sees slowing growth. "That said, with now 2 cuts to FY23 capacity guidance, we see elevated risk to Frontier's growth profile for FY23-24 and are moving to the sidelines." CFRA reiterates Berkshire Hathaway as hold CFRA said it's standing by its "fairly valued" hold rating heading into Berkshire earnings on Saturday. "CFRA believes Berkshire Class B shares are fairly valued versus historical averages, though the year-to-date performance of the shares has been aided by a rotation into value stocks and by Berkshire's balance sheet strength." UBS initiates Ferguson as buy UBS said the construction supply company is resilient. "We expect the US residential business ( > 50% of FERG's revenue) to remain relatively resilient, despite macro uncertainty, which underpins our above consensus topline growth forecasts for the company." Bernstein reiterates Qualcomm as outperform Bernstein said it's standing by its outperform rating on Qualcomm after its earnings report on Wednesday and that it "ought to be bought." "While we believe investors were expecting a miss, this was admittedly a somewhat sobering report. That being said, there were some promising signs to latch on to as well."

https://www.cnbc.com/2021/07/15/south-africas-rand-slides-amid-fatal-riots-following-zuma-arrest.html

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Verisk

South Africa’s currency slides amid fatal riots following Zuma arrest

A fire engulfs Campsdrift Park, which houses Makro and China Mall, following protests that have widened into looting in Pietermaritzburg, South Africa July 13, 2021, in this screen grab taken from a video obtained from social media. Sibonelo Zungu | Reuters The South African rand has depreciated rapidly as the government prepares to deploy more troops, amid widespread violence following the arrest of former President Jacob Zuma. With protests now in their seventh day after Zuma handed himself in to police to serve a 15-month jail term for contempt of court, 72 people have died and more than 1,200 have been arrested, according to a police statement Tuesday. Around 5,000 troops were already on the ground as of Wednesday, with riots and looting concentrated in the densely-populated Gauteng and KwaZulu-Natal provinces. The government is now hoping to deploy 25,000 South African National Defence Force personnel to quell what President Cyril Ramaphosa has called unprecedented violence. The rand is now catching a breather after ceding its position as the year's top emerging market currency and dropping to its lowest level against the dollar since April. The rand was trading at around 14.56 to the dollar on Thursday afternoon, having started June below 13.75. "Zuma's imprisonment was the spark that ignited the protests, but underlying issues such as rampant unemployment, widespread inequality and discontent with Covid-19 related restrictions are the powder keg," said Aleix Montana, Africa analyst at risk consultancy Verisk Maplecroft. Former South African president Jacob Zuma arrives to appear before the Commission of Inquiry into State Capture that is probing wide-ranging allegations of corruption in government and state-owned companies in Johannesburg, on July 19, 2019. Mike Hutchings| AFP | Getty Images "The currency was barely affected when Zuma was imprisoned last week, since it was seen as a welcome move to fight deep-rooted corruption. The fact that the Rand has weakened markedly in the face of the unrest indicates that investors didn't see the protests coming and are concerned about the direction of travel." Verisk Maplecroft's Civil Unrest Index characterized South Africa as "high risk" in the third quarter of 2021 with a score of 2.77/10.00, making it the 13th worst performing country in sub-Saharan Africa. It expects the ongoing violence and business disruption to further erode the country's performance in the next iteration of the index, with South Africa likely to tip over into the extreme risk category. Between a rock and a hard place If indeed the unrest is centered on a broader discontent with the current weakness of the economy, this could hinder the government's ability to implement austerity measures and restore its debt position to a more sustainable path, according to Capital Economics Senior Emerging Markets Economist Jason Tuvey. The violence also comes on the heels of a reintroduction of strict Covid-19 containment measures, as the country battles a rapid rise in cases. As such, the extent of the economic hit will be difficult to extrapolate from the expected short-term slowdown in activity, Tuvey suggested, adding that the most significant spillover effects may pertain to South Africa's fiscal position. "The public finances were in a poor state heading into the Covid-19 crisis and, while the impact has not been as severe as initially feared, the budget deficit still came in at 11.0% of GDP in the last fiscal year and debt ballooned to 78.8% of GDP," he said. A man walks past a graffiti with the words "Free Zuma" as the country deploys army to quell unrest linked to the jailing of former South African President Jacob Zuma, in Vosloorus, South Africa, July 14, 2021. Siphiwe Sibeko | Reuters

https://www.cnbc.com/2023/05/03/stocks-making-the-biggest-moves-midday-cvs-lly-clx-yum-and-more.html

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Verisk

Stocks making the biggest moves midday: CVS Health, Eli Lilly, Clorox, Yum and more

Check out the companies making the biggest moves midday: CVS Health — Shares fell 3.68% after the company cut its 2023 forecast due to costs related to recent acquisitions of Signify Health and Oak Street Health. CVS cut its 2023 adjusted earnings guidance to a range of $8.50 to $8.70 per share from its previous projection of $8.70 to $8.90 per share. However, the company beat earnings and revenue expectations for the first quarter. Kraft Heinz — The consumer staples stock added 2.03% after the company topped analysts' expectations for both revenue and adjusted earnings per share, according to Refinitiv. The company also upped its guidance for the full year, to an adjusted EPS of $2.83 to $2.91 from its prior guidance of $2.67 to $2.75 per share. Estée Lauder — Shares tumbled nearly 17.34% after the beauty products company slashed its full-year guidance, citing volatility in Asian travel and a slower recovery in the region than expected. It guided for adjusted earnings per share of $3.29 to $3.39 for the year, versus prior guidance of $4.87-$5.02 and analyst estimates of $4.96, per StreetAccount. Eli Lilly — The stock gained 6.68% after the pharmaceutical company's clinical trial data showed its donanemab drug slowed the progression of Alzheimer's disease. Starbucks — Shares of the world's largest coffee chain fell 9.17%. On Tuesday, the company reported quarterly earnings and revenue that beat analysts' expectations. China, the company's second-largest market, saw its same-store sales increase, for the first time since Starbucks' fiscal third quarter in 2021. Clorox — Shares rallied 4,7%. On Tuesday, the consumer products firm posted fiscal third-quarter adjusted earnings per share of $1.51 topped the $1.22 per share expected by analysts polled by Refinitiv. Revenue also beat, coming in at $1.91 billion versus the $1.82 billion expected by Wall Street. ImmunoGen — Shares of the biotech company soared 135.77% after ImmunoGen announced the "practice-changing" results of its phase three trial for its experimental ovarian cancer drug, Elahere. The trial showed the drug demonstrated a "statistically significant and clinically meaningful improvement" in prolonging the lives of patients, the firm said. Livent — The stock jumped 6.95%. The lithium company reported a big first-quarter earnings beat on Tuesday. Adjusted earnings per share came in at 60 cents, versus the 39 cents expected by analysts polled by FactSet. Its revenue of $253.5 million topped estimates of $230.2 million. Generac — Shares of the generator manufacturer added 11.61%. Generac surpassed expectations for quarterly earnings earlier in the day, reporting 63 cents per share, while analysts polled by FactSet forecasted 48 cents. Advanced Micro Devices -- The semiconductor stock fell 9.22%. On Tuesday, the company reported a 9% decline in first-quarter revenue from the year prior, and a 65% drop in PC and processor sales. AMD also said it expects about $5.3 billion in sales in the current quarter, less than the $5.48 billion expected by Wall Street. Chegg — The beleaguered stock bounced back 12% on Wednesday, after losing more than 48% in the prior session. On Monday evening, the online education company said on the earnings call that ChatGPT is hurting its growth. On Tuesday, CEO Dan Rosensweig called the plunge "extraordinarily overblown." Yum Brands — The restaurant operator's stock shed 3.91% after the company's earnings missed estimates. Its adjusted earnings per share for the first quarter came in at $1.06, compared to the $1.13 expected, per Refinitiv. Revenue topped estimates, however, at $1.65 billion, versus the $1.62 billion expected. PacWest Bancorp , Western Alliance Bancorp — Shares of PacWest shed 1.98%, adding to the 28% loss on Tuesday on renewed concerns over the health of the sector. Western Alliance lost 4.4%, while Zions Bancorporation dropped 5.27%. Pearson — U.S.-shares of the educational technology stock rose 11% after Bank of America said the stock was unfairly hit in sympathy with Chegg's Tuesday fall. Wingstop — Wingstop jumped 9.35% after beating first-quarter estimates. The restaurant chain reported adjusted earnings of 59 cents per share, topping the 45 cents per share predicted, according to consensus estimates from FactSet. The chicken wing chain posted revenue of $108.7 million, topping the $99.5 million estimate. Verisk Analytics - Shares gained 7.93% after the company reported adjusted earnings per share of $1.29 for the first quarter, topping estimates of $1.19, per FactSet. Revenue also beat, coming in at $651.6 million, versus the $633.2 million expected. — CNBC's Brian Evans, Yun Li, Alex Harring and Sarah Min contributed reporting.

https://www.cnbc.com/2021/03/23/putin-to-get-coronavirus-vaccine-russias-vaccine-strategy-in-focus.html

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Verisk

Putin gets a Covid vaccine — but the Kremlin refuses to say which one

In this article Follow your favorite stocks CREATE FREE ACCOUNT Russian President Vladimir Putin chairs a meeting focused on the support to the aviation industry and the air transportation at his country residence in Novo-Ogaryovo outside Moscow, on May 13, 2020. Alexey Nikolsky | AFP | Getty Images LONDON — Russian President Vladimir Putin received a coronavirus shot on Tuesday, as intrigue surrounds the country's vaccine strategy. Earlier in the day, the Kremlin said it would not reveal the name of the vaccine that Putin would receive, only that it would be one of three Russian-made shots. "We are deliberately not saying which shot the president will get, noting that all three Russian vaccines are absolutely reliable and effective," Kremlin spokesman Dmitry Peskov told reporters, according to Reuters. There are three Russian vaccines — Sputnik V, EpiVacCorona and CoviVac — with the latter two only recently gaining emergency approval. The 68-year-old Russian president received the vaccine Tuesday evening, according to local media reports. It's unclear whether he was filmed receiving the shot. Peskov noted that Putin did not like the idea of being vaccinated on camera. Sluggish vaccine rollout The vaccination comes as the spotlight falls on the country's vaccine strategy. On Monday, Putin lauded multimillion dollar international sales of Russia's Sputnik V Covid vaccine but the country's own rollout appears sluggish, and contrasts sharply with the high numbers of vaccines destined for the international market. There have been reports that Russia's own production capacity is low and Putin appeared to concur. He said Monday that Russia needed to ramp up vaccine production for domestic use and that supplying domestic needs was a priority, according to Reuters. He noted that 4.3 million people in the country had already received two doses of the vaccine. This is substantially higher than, for example, the U.K. which has given around 2.3 million people both doses to date, but Russia was the first country in the world to approve a coronavirus vaccine (Sputnik V) in August — the U.K. approved its first shot in early December. Logistics Russia does have a number of logistical challenges to overcome when rolling out a vaccine. It is the largest country in the world and has a population of around 144 million people spread across a territory that spans Europe and northern Asia. In early March, Putin noted that all but nine Russian regions had started to deploy the vaccine, with delays linked to "problems with logistics, distribution (and) locations," the Moscow Times reported. Global data on vaccination programs shows that Russia lags many other countries in its own domestic rollout, with the number of single doses administered in Russia hovering just above the number of those given in Bangladesh, according to Our World in Data. The vaccination data is made more salient given that Russia has been hit so badly by the pandemic: It has recorded the fourth-highest number of cases in the world (over 4.4 million) and over 94,000 people have died from Covid in the country, according to Johns Hopkins University data. Vaccine skepticism Another big issue hampering Russia's rollout is vaccine hesitancy among its citizens. Daragh McDowell, head of Europe and principal Russia analyst at Verisk Maplecroft, told CNBC the country's lower vaccination numbers are, "probably much more a result of lack of willingness on the part of popular skepticism over the vaccine than a lack of supply." He noted that the latest data from the Levada Center, an independent pollster in Russia, suggests that only 30% of Russians "are willing to get vaccinated, a number that's actually gone down since last year." "This is mainly due to worries about side effects and that the vaccine hasn't been tested enough — in other words, while the Kremlin got a propaganda boost from getting the vaccine out first, this was at the cost of doubts over its safety," McDowell said. A woman receives the second component of the Gam-COVID-Vac (Sputnik V) COVID-19 vaccine. Valentin Sprinchak | TASS | Getty Images Sputnik V was initially authorized in Russia only for people 18-60 years old, meaning that Putin was too old to receive it. Further trials in senior citizens found that the vaccine was safe in people age 60 and over, so that age group can now receive the shot. "The fact that Putin has waited this long to be vaccinated himself will not have gone unnoticed and will have contributed to these doubts," McDowell added. "The president's vaccination will convince some Russians of the vaccine's efficacy and safety (but) high levels of social distrust and conspiratorial thinking will blunt it's impact." He noted that the same polling data that showed 30% of Russians were willing to get vaccinated also revealed that almost two-thirds believed Covid was artificially developed as a biological weapon. International sales deals Another aspect of Russia's vaccine program that's drawing attention is the high numbers of international sales of its vaccine. On Monday, Putin confirmed that Russia had signed international sales deals for Sputnik V doses for 700 million people. RDIF, Russia's sovereign wealth fund, which backed Sputnik V's development and deployment, said Tuesday that Sputnik V had now been approved in 56 countries, with Vietnam the latest to join the list. Several countries in Eastern Europe, such as Hungary and Slovakia, have also ordered Sputnik V doses. Meanwhile, Europe's medicines regulator started a rolling review of Sputnik V earlier this month. Verisk Maplecroft's McDowell said that although exports of 700 million doses was "an extremely ambitious number," it likely includes doses produced abroad, in India and South Korea for example, under license. Data crunching

https://www.cnbc.com/2023/03/15/does-chinas-role-in-saudi-iran-rapprochement-represent-a-new-order-.html

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Verisk

The China-brokered Saudi-Iran deal has big repercussions for the Middle East — and the U.S.

A man in Tehran holds a local newspaper reporting the China-brokered deal between Iran and Saudi Arabia to restore ties on March, 11 2023. Atta Kenare | Afp | Getty Images DUBAI, United Arab Emirates — When arch-rivals Saudi Arabia and Iran announced they were restoring diplomatic relations, much of the world was stunned — not only because of the breakthrough after years of mutual animosity, suspected attacks and espionage between the two countries, but because of who brokered the deal: China. Taking up a specific role that the U.S. could not have fulfilled, this was Beijing's first foray into Middle East mediation, an area that for the past few decades was largely occupied by Washington. As tensions simmer between the world's two largest economies and U.S. policymakers sound the alarm over competition and security concerns with China, what does Beijing's ascendance in the region mean for the Middle East — and for U.S. interests? "Many are breathing a sigh of relief [with] today's official Iran-Saudi agreement," Bader al-Saif, an assistant professor of history at Kuwait University, wrote on Twitter after the news was announced. "All 3 parties to the deal can claim victory, but Saudis are arguably the biggest winner," he contended. From the Saudi perspective, normalization with Iran — a country that's long been seen by the Saudi monarchy as one of its greatest security threats — removes obstacles in its reform and economic transformation journey, according to Joseph Westphal, a former U.S. ambassador to the kingdom. "I think the leadership there believes that this is a very important moment for Saudi Arabia as it emerges ... as a real leader in the world on many issues," Westphal told CNBC's Dan Murphy on Tuesday. "A constant struggle with Iran delays that and impedes the progress that they made." "Obviously, the United States could not have made this agreement possible because we don't have a relationship with Iran," the ambassador added. "I think China was a good partner to do this. I think they're the right people," he said, noting that China invests heavily in Saudi Arabia and is its top trading partner. "So I think this is a very good thing all the way around." watch now Hopes for de-escalation in areas like Yemen, where Saudi Arabia has carried out a brutal war against Iran-backed Houthi rebels since 2015, are now more realistic than before, analysts say. Risks to shipping and oil supplies in the region may be reduced, and trade and investment between the countries could add to growth. Reduced risk of direct military confrontation At the very least, improved communication will reduce risks of confrontation, said Torbjorn Soltvedt, principal Middle East and North Africa analyst at Verisk Maplecroft, who called the deal "a much needed pressure valve amid heightened regional tensions." Still, it's a mistake to assume that everything is solved. "Due to the ongoing shadow war between Iran and Israel – and sporadic Iran-backed attacks against shipping and energy infrastructure throughout the region – the risk of escalation due to miscalculation is still uncomfortably high," he said. In the past few years, the region has seen numerous attacks, particularly on Saudi and Emirati ships and energy infrastructure, which Riyadh and Washington blamed on Iran. Tehran rejects the accusations. watch now "Riyadh and Tehran will remain adversaries with competing visions for the region," Soltvedt stressed. "But improved channels for communication have the potential to reduce the risk of a direct military confrontation between the two states." Iran is also now enriching uranium at its highest level ever, and is believed to be just months away from nuclear bomb-making capability. Rapprochement between Riyadh and Tehran may mean little if the latter's nuclear program isn't addressed. Has Washington been snubbed? The White House's seeming reluctance to praise China was hard not to notice. "We support any effort to de-escalate tensions in the region. We think it's in our interests," National Security Council spokesman John Kirby said of the news on Friday, adding that the Biden administration had made similar efforts in that direction. But when asked about Beijing's role, Kirby replied: "This is not about China and I'm not going to characterize here whatever China's role is." Chinese President, Xi Jinping (L) is welcomed by Crown Prince of Saudi Arabia Mohammed bin Salman Al Saud (R) at the Palace of Yamamah in Riyadh, Saudi Arabia on December 8, 2022. Anadolu Agency | Anadolu Agency | Getty Images The news signaled the growing influence of China in the Arab region. And not just economically, as it already exports an immense amount of goods to the Middle East and is the largest importer of Saudi oil – but politically. Leaders of Saudi Arabia and the UAE have made concerted efforts to diversify their foreign relations and move away from being overly dependent on the U.S., as successive American administrations treat the Middle East as less of a priority. "I think it demonstrates that U.S.'s influence and credibility in that region has diminished and that there is a new sort of international regional alignment taking place, which has empowered and given both Russia and China newfound influence and status," Aaron David Miller, a senior fellow at the Carnegie Endowment for International Peace and former Middle East policy advisor for the State Department, told NBC News. He called the fact that China brokered the deal "stunning." US Marine Corps General Kenneth F. McKenzie Jr. (C, behind), commander of the US Central Command (CENTCOM) and Lieutenant General Fahd bin Turki bin Abdulaziz al-Saud (front), commander of the Saudi-led coalition forces in Yemen, are shown reportedly Iranian weapons seized by Saudi forces from Yemen's Huthi rebels, during his visit to a military base in al-Kharj in central Saudi Arabia on July 18, 2019. Fayez Nureldine | AFP | Getty Images Still, there seems to be a consensus that in terms of military power and security alliances in the region, U.S. influence is in no danger. "No Chinese mediation — or any diplomatic involvement — will threaten US primacy in the region. All states, Iran included, know that," Kuwait University's Al-Saif said. The U.S.-Saudi Arabia security partnership spans nearly three-quarters of a century, and Saudi Arabia's military arsenal is overwhelmingly supplied and maintained by the U.S. and American military personnel. Neither KSA nor Iran will change overnight. Bader Al-Saif Assistant professor of history, Khalifa University In any case, China's gain doesn't have to mean a loss for the U.S., many believe. "This shouldn't be a zero sum game for the US. It can serve US interests: Iran nuclear deal, Yemen, Lebanon for starters can benefit from the agreement," Al-Saif said. "A quick move should follow on these files [because] the agreement may not last long," he added. "Might as well reap benefits while it lasts." Will the deal hold? It's yet to be seen whether the agreement between the two Middle Eastern powers – and the mutual goodwill expressed in its wake – will last. Many regional watchers are skeptical. "Iran's opting for engagement here should not be misinterpreted as a de-escalation," Behnam ben Taleblu, senior fellow at the Foundation for Defense of Democracies, told CNBC. "Tehran is capitalizing on deeper Chinese enmeshment in Persian Gulf trade as well as increased Saudi hedging of the pro-American order in the region." watch now

https://www.cnbc.com/2022/10/21/verizon-profit-declines-as-pricier-plans-result-in-subscriber-loss.html

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Verizon

Verizon profit declines as pricier plans result in subscriber loss

FILE- In this Tuesday, June 12, 2012, file photo, the Verizon logo is seen at Verizon store in Mountain View, Calif. Verizon Communications Inc., parent of the country’s largest cellphone carrier, on Thursday, July 19, 2012, said its net income rose 13 percent in the second quarter as its wireless arm pulled in record profits. (AP Photo/Paul Sakuma, File) Verizon Communications Inc 's profit fell 23% and it added fewer-than-expected wireless subscribers in the third quarter as its raised prices drove some customers to cheaper plans from fast-growing rivals AT&T Inc and T-Mobile US Inc . The largest U.S. wireless carrier said on Friday it lost 189,000 monthly bill-paying phone subscribers in its consumer business after it included additional charges in June, over and above its pricey plans. Shares fell 6% to their lowest in over a decade as finance chief Matt Ellis said higher prices for plans led to disconnections and warned the pressure would continue into the next quarter. Competition in the U.S. telecoms markets is heating up after Verizon and AT&T offloaded their media businesses and T-Mobile completed its merger with Sprint Corp to become wireless-focused companies. While higher spending on 5G infrastructure has jacked up costs, the companies are forced to keep their plans affordable as rising inflation hammers consumer spending. Verizon, whose plans are the most expensive, added 8,000 net new monthly bill paying wireless phone subscribers in the quarter, well below Factset estimates of 35,400 additions. Some analysts feared competition is catching up, while many said its high price must been seen as its strength. "The thing people forget is the biggest company in the industry, they have the most customers to lose each quarter," Michael Hodel, director of telecom and media research at Morningstar said. Its net subscriber addition was powered by an increase in its business segment, which added 197,000 customers. "Verizon's ability to maintain pricing power is a key strength as it navigates a fairly saturated wireless market," Jamie Lumley, Third Bridge analyst said. While its third-quarter revenue and profit beat Refinitiv estimates, subcriber loss remains an overhang as analysts said iPhone upgrades in the holiday season are expected to be weaker. Net income fell to $5 billion, prompting Verizon to announce a plan to reduce annual costs of between $2 billion and $3 billion by 2025.

https://www.cnbc.com/2022/04/25/goldman-sachs-downgrades-verizon-on-valuation-following-big-subscriber-loss.html

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Verizon

Goldman Sachs downgrades Verizon on valuation following big subscriber loss

Verizon is positioned to remain a wireless leader in the 5G cycle, but its biggest opportunity is also its biggest challenge, according to Goldman Sachs. On Monday the firm lowered its rating on Verizon to neutral from buy, and cut its 12-month price target on it to $55 from $61. "Our downgrade primarily reflects our view that VZ offers less total return potential vs. its large cap peers in telecom and cable, most notably AT & T, which trades at a discount to VZ on earnings and dividend yield, despite our outlook for similar durability in the carriers' earnings and payouts," Goldman analyst Brett Feldman said in a note Monday. The Wall Street firm said although the telecom giant's recent traction with its 5G fixed wireless access shows evidence that investments in that service have expanded the company's addressable market, it also anticipates a slowdown in revenue growth. "We also believe that Verizon will continue to show moderate growth in its postpaid average revenue per postpaid user over the medium-term as its subscriber base upgrades into premium-tiers of its 5G unlimited plans," Feldman wrote. "If growth compresses more materially owing to the lack of stimulus, macro factors (e.g., inflation, economic headwinds) or other impacts, Verizon may not achieve our subscriber growth forecasts and potentially our outlook for modest growth in revenues and adjusted EPS." The downgrade comes after Verizon on Friday reported a loss of 36,000 monthly phone subscribers in the first quarter, an indicator that the company is benefiting from its 5G services and new broadband networks. Feldman also cited inflationary cost pressures, supply chain disruptions, failure to achieve traction with growth initiatives, slower pace of delivering targets and higher borrowing costs. Since joining Goldman's buy list in 2018, Verizon's shares have added 7% versus the S & P 500's 55%, and total return was 27% compared with the benchmark index's 60%. On Monday, Verizon shares were falling more than 1% in premarket trading, adding further to Friday's slide. — CNBC's Michael Bloom contributed reporting. A Verizon store in New York City. Getty Images

https://www.cnbc.com/2022/01/03/att-verizon-ceos-reject-us-request-for-5g-deployment-delay.html

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Verizon

AT&T, Verizon CEOs reject U.S. request for 5G deployment delay

Side by side ATT and Verizon store fronts and entrances at a mall in northern Idaho. The chief executives of AT&T and Verizon Communications rejected a request to delay the planned Jan. 5 introduction of new 5G wireless service over aviation safety concerns but offered to temporarily adopt new safeguards. U.S. Transportation Secretary Pete Buttigieg and Federal Aviation Administration chief Steve Dickson had asked AT&T CEO John Stankey and Verizon CEO Hans Vestberg late Friday for a commercial deployment delay of no more than two weeks. The wireless companies in a joint letter on Sunday said they would not deploy 5G around airports for six months but rejected any broader limitation on using C-Band spectrum. They said the Transportation Department proposal would be "an irresponsible abdication of the operating control required to deploy world-class and globally competitive communications networks." The aviation industry and FAA have raised concerns about potential interference of 5G with sensitive aircraft electronics like radio altimeters that could disrupt flights. The exclusion zone AT&T and Verizon propose is currently in use in France, the carriers said, "with slight adaption" reflecting "modest technical differences in how C-band is being deployed." "The laws of physics are the same in the United States and France," the CEOs wrote. "If U.S. airlines are permitted to operate flights every day in France, then the same operating conditions should allow them to do so in the United States." The FAA said in a statement on Sunday that it was "reviewing the latest letter from the wireless companies on how to mitigate interference from 5G C-band transmissions. U.S. aviation safety standards will guide our next actions." FAA officials said France uses spectrum for 5G that sits further away from spectrum used for radio altimeters and uses lower power levels for 5G than those authorized in the United States. Verizon said it will initially only use spectrum in the same range as used in France, adding it will be a couple of years before it uses additional spectrum. The larger U.S. exclusion zone around U.S. airports is "to make up for the slight difference in power levels between the two nations," Verizon added. Sara Nelson, president of the Association of Flight Attendants-CWA (AFA), representing 50,000 workers at 17 airlines, on Sunday wrote on Twitter that pilots, airlines, manufacturers and others "have NO incentive to delay 5G, other than SAFETY. What do they think … we're raising these issues over the holidays for, kicks?" The Air Line Pilots Association also backed the delay. Government and industry officials said the exclusion zones proposed by the wireless carriers is not as large as what has been sought by the FAA. The FAA and Buttigieg on Friday proposed identifying priority airports "where a buffer zone would permit aviation operations to continue safely while the FAA completes its assessments of the interference potential." The wireless carriers, which won the C-Band spectrum in an $80 billion government auction, previously agreed to precautionary measures for six months to limit interference but say the upgrades are essential to compete with other countries like China and to enable remote working. Trade group Airlines for America, representing American Airlines , FedEx and other carriers, on Thursday asked the Federal Communications Commission (FCC) to halt deployment around many airports, warning thousands of flights could be disrupted daily. The airline group has said it may go to court Monday if the FCC does not act. The group urged the FCC and the telecom industry to work with the FAA and the aviation industry to "enable the rollout of 5G technology while prioritizing safety and avoiding any disruption to the aviation system." An FCC spokesperson said Sunday the agency is "optimistic that by working together we can both advance the wireless economy and ensure aviation safety." Wireless industry group CTIA said 5G is safe and spectrum is being used in about 40 other countries.

https://www.cnbc.com/2022/06/17/verizon-att-agree-to-delay-some-5g-deployment-until-mid-2023.html

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Verizon

Verizon, AT&T agree to delay some 5G deployment until mid-2023

The Federal Aviation Administration said Friday that Verizon Communications and AT&T have voluntarily agreed to delay some C-Band 5G usage until July 2023 as air carriers work to retrofit airplanes to ensure they will not face interference. The two carriers agreed in January to delay through July 5 switching on some wireless towers and depowering others near airports. Verizon said Friday the new agreement will allow it to "lift the voluntary limitations on our 5G network deployment around airports in a staged approach over the coming months meaning even more consumers and businesses will benefit from the tremendous capabilities of 5G technology." AT&T said with the FAA it had "developed a more tailored approach to controlling signal strength around runways that allows us to activate more towers and increase signal strength." AT&T added that it had voluntarily "chosen in good faith to implement these more tailored precautionary measures so that airlines have additional time to retrofit equipment." Concerns that the 5G service could interfere with airplane altimeters, which give data on a plane's height above the ground and are crucial for bad-weather landing, led to disruptions at some U.S. airports earlier this year. In recent months, the Federal Aviation Administration has been urging airlines to complete retrofits of some airplane radio altimeters. Acting FAA Administrator Billy Nolen on Wednesday urged the chief executives of major U.S. airlines to move quickly to address risks from a 5G wireless rollout by installing filters on radio altimeters, in a bid to avoid potential disruptions at key airports from next month. Airlines for America, an industry trade group representing American Airlines , Delta Air Lines , United Airlines and others, said at an FAA meeting Friday they learned "the vast majority" of members fleet of 4,800 total aircraft "would need to be retrofitted by July 2023" and raised questions if that is feasible. "Given that the FAA has not even approved solutions nor have manufacturers manufactured these products for most of this fleet, it is not at all clear that carriers can meet what appears to be an arbitrary deadline." The FAA said Friday "filters and replacement units for the mainline commercial fleet should be available on a schedule that would permit the work to be largely completed by July 2023. After that time, the wireless companies expect to operate their networks in urban areas with minimal restrictions." Airlines CEOs on Jan. 17 had warned of an impending "catastrophic" aviation crisis that could have grounded almost all traffic because of the 5G deployment.

https://www.cnbc.com/2021/08/12/verizon-to-offer-free-year-of-amc-to-certain-subscribers.html

VZ

Verizon

Verizon to offer free year of AMC+ to certain subscribers, adding to its stable of streaming promotions

Andrew Lincoln as Rick Grimes and Jeffrey Dean Morgan as Negan featured in The Walking Dead on AMC Verizon is bundling yet another streaming service with its 5G wireless plans in an attempt to stand out from competitors. Verizon is providing one free year of AMC+, the streaming service that offers "The Walking Dead," "Mad Men," and other AMC Networks series and films, to certain new and existing Fios and wireless subscribers, the company announced Thursday. The promotion begins immediately and runs until Feb. 10. New or existing Verizon customers who purchase a 5G phone with a device payment plan will get 12 months of AMC+ included for no extra charge, Verizon said. New Verizon Fios customers who sign up for one of Verizon's Mix & Match home internet plans also get the promotion. In addition, Verizon is giving away six months of AMC+ to customers on its "Start Unlimited" plan, its cheapest unlimited plan that includes 4G data instead of 5G. After the Verizon promotions end, AMC+ will cost the standard $8.99 per month. Verizon already offers Discovery+ and Disney+ to its 5G customers with a variety of plans. The wireless company is in a battle with AT&T and T-Mobile to gain customers and is using the carrot of streaming services to woo new customers. AT&T gives away free HBO Max to many of its customers, and T-Mobile offers free Netflix with unlimited data plans. "Adding more personalized subscriptions is a big part of our strategy," Verizon executive Frank Boulben told CNBC in May. As streaming services become the dominant distribution method for video content, replacing traditional pay TV, it's possible companies will start to bundle and aggregate multiple services similar to the cable model. Verizon has a head start on the pack by offering multiple services for no additional charge as part of its wireless plans. AMC Networks said earlier this month it expects to have at least 9 million paid streaming subscribers across its platforms by the end of the year. WATCH: Verizon CEO Hans Vestberg on subscriber growth surprise, outlook

https://www.cnbc.com/2022/08/15/buffetts-berkshire-ramps-up-giant-apple-stake-again-dumps-verizon.html

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Verizon

Warren Buffett's Berkshire ramps up its giant Apple stake again, dumps Verizon

Warren Buffett's Berkshire Hathaway ramped up its stake in Apple again last quarter during the tech-driven sell-off, while the conglomerate exited the Verizon holding it had owned for almost two years. The holding company raised its bet on the iPhone maker to 894.8 million shares, worth $122.3 billion at the end of June, according to a quarterly 13F filing released Monday evening. Omaha-based Berkshire owned 890.9 million shares of Apple at the end of the first quarter. The "Oracle of Omaha" also bought the dip in Apple, his biggest stock holding by far, in the first quarter during heightened volatility. Buffett previously called Apple one of the four "giants" at Berkshire , and said he particularly likes CEO Tim Cook's stock repurchase strategy. Also during the second quarter, Berkshire dumped its entire stake in Verizon, worth more than $70 million. It had owned the telecom stock since the third quarter of 2020. Here are the top 10 holdings in Berkshire's massive equity portfolio at the end of the second quarter. Buffett continued to boost his stake in Chevron in the second quarter. The bet is now worth $23.3 billion, making it Berkshire's fourth biggest equity holding. The integrated oil producer has outperformed the broader market significantly, rising more than 30% so far this year. Berkshire also increased its stake in Activision Blizzard slightly last quarter, pushing the stake to its 10th largest holding. Buffett previously said during Berkshire's annual shareholder meeting that he would buy more Activision shares for a merger arbitrage play, betting that Microsoft's proposed acquisition of the video game company will in fact close.