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https://www.cnbc.com/2014/04/24/us-judge-denies-apples-move-to-hold-off-e-book-antitrust-trial.html

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Booking Holdings

US judge denies Apple's move to hold off e-book antitrust trial

E-Books are seen on an ipad. Daniel Roland | AFP | Getty Images A U.S. federal judge denied a bid by Apple on Wednesday to hold off a trial in a case brought by state attorneys general accusing the company of conspiring with five major publishers to fix e-book prices. U.S. District Judge Denise Cote in a brief order said the July 14 trial had already been postponed once and should go forward, paving the way for more than two dozen states to pursue hundreds of millions of dollars in damages. Following a non-jury trial last year, Cote found that Apple from 2009 to 2010 conspired with the publishers to raise e-book prices and impede competitors such as Amazon . watch now The trial to assign damages was supposed to be held in May but it was pushed back two months to allow adequate time for class notification, Cote's order said. Apple later on Wednesday asked a federal appeal's court to intervene and halt the trial. "The district court is ... pressing forward with class notice and a trial in both cases in July, despite the irreparable harm to Apple's reputation among its consumers if class notice is disseminated," the company said in its filing at the 2nd U.S. Circuit Court of Appeals. Eric Lipman, an assistant attorney general in Texas wrote a letter to Cote on Wednesday opposing Apple's motion to postpone the trial. Read More Apple earnings will steer stocks "If any stay is issued, the feasibility of a July 14 trial is significantly decreases. The Court should not countenance Apple's latest effort to further delay a jury's determination," the letter said. After Cote's ruling last year, the states had pursued the liability finding alongside the U.S. Justice Department and obtained an injunction against the iPad maker in September that called for the appointment of a compliance monitor.

https://www.cnbc.com/2017/03/09/the-book-a-shark-tank-judge-says-every-professional-should-read.html

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Booking Holdings

Self-made millionaire and 'Shark Tank' judge says this is the book every professional should read

Robert Herjavec, self-made tech mogul and judge on ABC's "Shark Tank," is always reading at least one book at a time. Right now, he's making his way through "Powerhouse: The Untold Story of Hollywood's Creative Artists Agency" — which details the rise of one of the biggest talent and sports agencies in the country — as well as a biography of actress Audrey Hepburn. "I'm very eclectic," Herjavec tells CNBC in a video-call from Google's Headquarters, where he was working with young entrepreneurs on an "Invent-athon" with Frito-Lay. Despite his wide-ranging tastes, the "Shark Tank" judge says there is one essential book that every professional needs to read. "If I had to recommend one book," the mogul says, "it would have to be Napoleon Hill, 'Think and Grow Rich.'"

https://www.cnbc.com/2017/03/22/electric-autos-are-overhyped-bet-on-cleaner-burning-engine-suppliers-deutsche-bank-says.html

BWA

BorgWarner

Electric autos are overhyped, bet on cleaner burning engine suppliers, Deutsche Bank says

Deutsche Bank is increasingly bullish on auto suppliers, saying recent advances in battery technology are making conventional engine cars more competitive against electric vehicles. "A consistent theme within our research in recent years was that electric vehicle powertrains will eventually approach cost parity vs. more advanced internal combustion powertrains. … But we found that our previous forecast underestimated innovation, efficiency improvement, and cost reduction in internal combustion," analyst Rod Lache wrote in a note to clients Wednesday. "Somewhat surprisingly, some of the innovations in batteries will help sustain ICEs [internal combustion engines]. ... Prospects for business units focused on internal combustion efficiency and emissions appear brighter than we previously thought." A car's powertrain, which delivers kinetic power to the road, includes its engine, transmission and drive shafts. The analyst raised his rating on BorgWarner to buy from hold. He increased his price target on the company to $51 from $41, representing 25 percent upside from Tuesday's close. He also reiterated his buy rating and increased his price target on Delphi Automotive to $99 from $88, representing 27 percent upside. Lache cited new improvements in 48V lithium ion battery technology, which will lower costs and increase the ability to charge in a wider range of temperatures. "Automakers have ramped up the development of 48V electrical architectures … they will be used to achieve significant fuel efficiency gains through very mild hybridization (rather than the original thinking, which was to use 48V to achieve more efficient electrical architectures--e.g. thinner wires)," he wrote. "This has dramatically reduced the projected cost of complying with global fuel economy and CO2 mandates." As a result, Lache expects 95 percent to 96 percent of global automobiles in 2025 will still use "increasingly efficient" internal combustion engines. BorgWarner will be a big beneficiary of the trend as more than 60 percent of its sales are from the powertrain business, according to the analyst. "Within our coverage universe no company has historically been more directly associated with fuel efficiency/CO2 reduction than BorgWarner," he added. Delphi will also thrive as more than half its business comes from its electrical architecture segment as automakers upgrade to 48V hybrid technology, Lache said. — CNBC's Michael Bloom contributed to this story. Delphi headquarters Gary Malerba | Bloomberg | Getty Images

https://www.cnbc.com/id/32584066

BWA

BorgWarner

Sell Block: Junk This Cash-for-Clunkers Play

BorgWarner , maker of turbochargers, dual-clutch and torque-transfer systems, was one of a number of stocks that investors pushed higher as government-sponsored car buying boosted business for many autos-related companies. But this trade has passed, and both technical and fundamental analysts are urged investors to get out. The charts show that BorgWarner’s 50-day moving average, a measure of the stock’s short-term trajectory, has changed from its support level to its resistance level. The price at which buyers once snatched up excess shares has become the level at which they now think BorgWarner is too expensive. Why? Because the cash-for-clunkers trade is over. That doesn’t mean this isn’t a good company, though, Cramer said. BorgWarner has a strong balance sheet, and its earnings miss last quarter had more to do with short-term weakness in Europe and increased stock-compensation expenses – both of which are temporary problems – than legitimate flaws in the business plan. Still, BWA is priced for perfection at $30, and Cramer expects the stock to come down. Investors who want to play the autos sector right now should buy Ford preferred shares, the Mad Money host said. But BorgWarner’s fundamentals may put the stock back in the running “eventually.” “Because the auto industry’s on the mend,” Cramer said, “and next year will be a better year.” Call Cramer: 1-800-743-CNBC Questions for Cramer? madmoney@cnbc.com Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

https://www.cnbc.com/2023/01/19/chinese-markets-could-be-winners-tips-to-proceed-with-caution-.html

BWA

BorgWarner

The case for investing in China's reopening is strong. Here's how to proceed with caution

The reopening of China has reawakened a broader interest in foreign investing, and strategists expect it to deliver rewards to investors in its own markets and beyond this year. Strategists see China's markets easily scoring double-digit gains this year. Hong Kong's Hang Seng index is up just under 10% year-to-date while mainland markets, like Shanghai , are up about half that. But strategists also caution that the China story may not end up being all that is hoped for because of the continued spread of Covid and the difficulties of re-engaging the economy with the globe. "My view remains that China is a trade, rather than an investment," said Jimmy Chang, chief investment officer for Rockefeller Global Family Office. "It's not surprising more people are warming up to China, given there's a concern about a potential recession here in the U.S. People want to find positive catalysts around the globe." The case for investing outside the U.S. is strong, particularly with the dollar coming off its highs and looking at further downside. The iShares MSCI Emerging Markets ETF, which includes Chinese companies, is up 8.5% year-to-date, while the S & P 500 is up just under 2% in early 2023. .SPX EEM 3M line us v eem "On a 12-month forward looking basis, international markets are currently trading at a 29% valuation discount to their U.S. counterpart — the widest level in more than 15 years," said Ben Kirby, co-head investments at Thornburg Investment Management. "For long-term investors, we recommend taking advantage of currently cheap valuations and diversifying portfolios outside of the U.S." China, U.S. relations are warming The abrupt turnaround in China's zero-Covid policy since late last year sent ripples across global markets. Strategists expected trade opportunities to improve and spill over to countries, like Germany, Japan and some emerging markets. The major policy shift also comes as China's leadership is showing signs of warming to the U.S. For instance, Chinese Vice Premier Liu He spoke at the World Economic Forum in Davos this week and met separately with U.S. Treasury Secretary Janet Yellen . A further meeting was promised. Ed Mills, Washington policy strategist at Raymond James, said the goal of improving relations between the U.S. and China has been clear since the G-20 meeting in July. Secretary of State Antony Blinken reportedly will visit Beijing and meet with his counterpart Chinese Foreign Minister Qin Gang Feb. 5 and 6. "What we have seen is a lot of the hard work is done at the principal's level below Xi and Biden," he said. Mills said Chinese President Xi Jinping and President Joe Biden could meet in the fourth quarter. Beyond trade, relations between China and the U.S. were particularly prickly as former House Speaker Nancy Pelosi visited Taiwan in August. China had warned her not to visit. There also were new bans on Taiwanese goods and military exercises were carried out near Taiwan. China has said Taiwan is part of greater China, and the U.S. has repeatedly warned it against annexing the country. "Some of the tensions have cooled. The question is: does it get further relief from here or does it heat back up," said Mills. "I don't think we have an answer to that yet." The China Ministry of Commerce said Liu and Yellen discussed U.S. economic and tech policy. Last fall, the U.S. put curbs on U.S. companies and individuals working with Chinese partners on high-end semiconductors. That action came after the Trump administration put specific restrictions on SMIC and Huawei. Also, Trump administration tariffs on many Chinese goods are still standing. Reopening is a turning point China's reemergence after lockdowns could spur more trade and economic activity across the globe. It will also create more demand within China. Strategists point to the prospect for other countries in the region that trade with China to benefit, including Korea and Australia. "While China's reopening is undoubtedly a turning point, there remain reasons to be cautious," wrote Barclays equity strategists. "Zero-COVID was only one of a host of challenges facing China's growth prospects in 2023, which still include a deepening property market contraction, slowing exports and US semiconductor restrictions. Reopening begins to clear the pathway for Chinese consumption to recover, but more than 60% of household wealth remains tied up in a weakening housing market." But still the prospects for China's economy are much brighter than they were just several months ago. After macro tightening and regulatory crackdowns in 2021, the government is now stimulating the economy. Economists have been raising their growth forecasts for the Chinese economy after the country ended the zero-Covid policy, with a Bloomberg consensus now at 5.1% for gross domestic product growth in 2023. The economy grew at 2.9% year-over-year in the fourth quarter. MCHI 1Y line msci Citigroup economists said there have been some upside surprises in the economy, including recent data on retail sales and the labor market. The earlier-than-expected reopening could mean a quicker rebound, and they say their own forecast for 5.3% year-over-year growth in 2023 could end up being too low. Citigroup has an overweight on China. "If it essentially has a significant rebound in profits in the beginning of a new cycle, we could easily see 20% gains in China this year," said Steven Wieting, chief investment strategist and chief economist at Citi Private Bank, referring to MSCI China. The iShares MSCI China ETF is already up 12.4% year-to-date, but is off its highs of earlier this month. KraneShares CSI China Internet ETF is up 12.6% for the year so far, while iShares China Large-Cap ETF is up 12.2%. KWEB 1Y line chinese internet Wieting said even as Covid is spreading at a rapid clip through the country, he expects China to remain open and continue to push forward. "China can't lock down again," he said. He noted the country faced internal pressures from citizens protesting the restrictions. "China saw lockdowns created larger issues for health and economic activity in the country than allowing the spread of what they believe is a less fatal version of the virus," he said. "With high communicability, it's not something you can easily put back in the bottle." Where to place bets Wieiting said U.S. investors can invest in China through its biggest companies. Some of those are the top holdings the iShares Emerging Markets ETF . For example, Tencent Holdings, Alibaba and Meituan are among its top five holdings. Earlier this week, Goldman Sachs said the best way to play the rebound in China is by betting on the Chinese consumer through e-commerce giant Alibaba. The stock is up 31% since the start of the year. BABA 1Y line baba Wieting said he has been actively looking for opportunities in global markets, as a way to diversify outside the U.S., but some investors are newly attracted to overseas opportunities as the U.S. market looks set to underperform. Another way to play China is through U.S. companies that do business there. Coca-Cola's CEO James Quincey, for instance, told CNBC this week that the end of lockdowns is good for business. "What matters to our business is the mobility of consumers in the country. Obviously there's an increase in mobility so that's going to be good for us," he said. "The trajectory of the reopening I'm sure will be very much like the U.S. and the European." The Barclays equity strategists said the reopening of China should have just limited impact on the U.S. market. While the S & P's international revenue exposure is 30%, they have found that just 2% of that is direct revenue exposure to China. Among the companies Barclays identified with exposure to China include Las Vegas Sands , Starbucks, Western Digital , Borgwarner and Tesla. Paul Christopher, head of global market strategy at Wells Fargo Investment Institute, said he still prefers the U.S. but he's looking at other markets. "What we like to tell conservative investors in particular is look for multinationals that have exposure to China. If they are operating there, the Chinese need them there," he said. Firms in areas like pollution abatement and health care could be beneficiaries. Longer term, financial firms could also benefit. "In the future, when they get around to opening up, U.S. and European firms will be on the ground there," he said. U.S. technology firms, on the other hand, have been operating in China for a long time and face regulatory risk, including China's monopoly laws. Companies like Apple, which has a huge manufacturing footprint in China, have been actively seeking to move some operations away from China. 'Wolf warrior to wolf in sheep's skin' "We're suddenly getting these warm and fuzzy signals from China, but the thing to watch is it doesn't really change the subject," said Chang, the Rockefeller Global Family Office CIO. "You have this transition from wolf warrior to wolf in sheep's skin, trying to play nice." Chang said businesses and investors have been quick to embrace the change. "They want to go back to China, business as usual, thawing of intentions and improving relationships," he said. But, he said, investors should keep the political aspects in mind. "[House] Speaker [Kevin] McCarthy has set up a committee with the goal of addressing the rising threat of China," he said. "I don't think Xi Jinping himself has changed his long-term agenda, his China dream, his long-term ambition. The Covid lockdown has been so damaging to the Chinese economy, they want to get back to a growth path in 2023." Well Fargo's Christopher said he's starting to reexamine emerging markets. "We still prefer the U.S. and we still would be focused on a defensive quality holding, specially for long-term investors," he said. "If the world does not teeter on the brink of recession the way we were thinking late last year, then the primary beneficiary could be the cyclically oversold, like emerging markets," he said. "It just doesn't seem like it's going to happen yet." Correction: Ben Kirby is co-head of investments at Thornburg Investment Management. An earlier version misstated the firm's name.

https://www.cnbc.com/2023/01/09/goldman-basket-of-us-stocks-linked-to-china-starting-to-beat-market.html

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BorgWarner

Goldman basket of U.S. stocks linked to China is starting to beat the market — Here's what's in it

U.S. stocks heavily tied to China have begun to outperform the rest of the market as the world's second largest economy country seeks to return to a pre-pandemic normal after ending most Covid controls, according to Goldman Sachs. "Recent easing of China's zero-Covid policy represents one upside risk to S & P 500 profits via stronger 2023 global growth," David Kostin, Goldman's head of U.S. equity strategy, said in a note to clients. Since the start of the fourth quarter, a basket of stocks with high China sales exposure has outperformed stocks with high domestic sales exposure by eight percentage points, Kostin said. On Dec. 7 , Chinese authorities removed virus testing requirements and health code checks for domestic travel. Beijing had previously implemented a zero-Covid policy in an attempt to shield China's 1.4 billion people from the virus, but the policy also limited economic activity and cut off the outside world. Still, Goldman cautioned that a faster-than-expected exit from the zero-Covid policy nonetheless suggests weaker near-term growth as the infection rate dramatically increases. For investors wanting to capitalize on the rebound, here are the U.S. stocks with the highest percentage of revenue tied to China, according to Goldman. U.S. companies with a major China footprint include iPhone maker Apple , which has rallied more than 2% year to date. Casino operators Las Vegas Sands and Wynn Resorts are benefiting from the reopening of gambling in Macao. AAPL YTD mountain Apple shares year-to-date Starbucks , the world's largest coffee chain, as well as Tapestry , the owner of Kate Spade and Coach, are also heavily exposed China. Chemicals companies Air Products & Chemicals , Albemarle Corp. and auto parts supplier BorgWarner are also on Goldman's list. — CNBC's Michael Bloom contributed reporting.

https://www.cnbc.com/2020/06/23/small-cheap-stocks-are-outperforming-heres-how-to-play-them.html

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BorgWarner

Small cheap stocks are outperforming. Here's how to play them

(This story is for CNBC Pro subscribers only). Small- and mid-cap stocks have taken off in recent weeks, and Jefferies said in a new note that there are several stocks that will lead the next leg of the rally. Since a June 11 pullback, the Russell 2000 has risen 5.7% while the S & P 500 has bounced back 3.8%. Smaller stocks should continue to be a smart bet in the weeks ahead, the firm said in a note to clients. "Smaller market caps are quietly outperforming, we think this trend continues," the note said. Jefferies looked for buy-rated stocks between $1 billion and $30 billion in market cap. Those stocks had to be relatively cheap on an earnings basis, have strong return on equity and not have big increases in debt-to-equity ratios. One stock that made Jefferies' list is auto parts supplier BorgWarner . The stock, which has a market cap of about $7 billion, is still down more than 20% for the year. In January, before the pandemic sent financial markets plunging, the company announced that it was acquiring Delphi Technologies. That agreement was amended in May but is still expected to close by the end of the year. BorgWarner also priced $1.1 billion in bonds last week at 2.65%. There are several financial companies on the Jeffereis' list, as those names have underperformed the broader market just like their large cap counterparts. One of those is Synchrony Financial , which has fallen more than 33% this year. The company reported a provision for credit losses that were more than $800 million higher in the first quarter than in 2019, in part due to concerns about how the pandemic would impact the economy. Alliance Data Systems , which was recently kicked out of the S & P 500 , also made the list. The stock is by far the cheapest on an earnings basis of the 14 stocks in Jefferies' screen. The stock is down more than 50% for the year. Eastman Chemical has actually outperformed the Russell 2000 so far this year, but still would need to climb 11% to be flat for 2020. The company kept its dividend flat in the most recent quarter. People visit the Charging Bull Statue during Covid-19 pandemic in New York. Tayfun Coskun | Anadolu Agency | Getty Images

https://www.cnbc.com/2022/11/28/beware-of-these-stocks-in-your-portfolio-with-the-biggest-china-risks-as-covid-19-protests-erupt-.html

BWA

BorgWarner

Beware of these stocks in your portfolio with the biggest China risks as Covid protests erupt

A wave of unrest in China could spell trouble for investors holding stocks with sizeable chunks of revenue exposed to the country. Protests erupted across China over the weekend as citizens pushed back against the country's strict and prolonged zero-Covid protocols . While the shockwaves are just beginning to ripple, a report from Bloomberg said Apple could suffer a shortfall of 6 million iPhone Pro units due to unrest at a Foxconn factory in China. Against this uncertain backdrop, CNBC Pro used FactSet data to screen for stocks in the S & P 500 that have more than 20% revenue exposure to China and could potentially suffer from the turmoil gripping the country. Here are some of the stocks we found: Tesla is the largest company on the list by market capitalization, with more than a quarter of its revenues exposed to China. Covid-19 lockdowns and restrictions in China have temporarily halted or limited production at the company's Shanghai factory this year. Despite tumbling about 48% in 2022 amid the market's tech sell-off, shares could rally nearly 59% from Friday's close based on the consensus price target. Chemicals company DuPont de Nemours is also on the list. About 23.5% of the company's revenues are exposed to China. The shares have toppled about 12% since the start of the year as of Friday's close, but are due to rally nearly 11%, according to consensus estimates via FactSet. Another stock in our screen is elevator manufacturer Otis Worldwide , with a little over 20% of revenues exposed to the country. About 36% of analysts say the stock is a buy, with the consensus price target suggesting another 1.3% fall from Friday's closing price after it slumped nearly 10% this year. Many semiconductor stocks such as Intel , Nvidia and Advanced Micro Devices also made the list — including Qualcomm , with the highest revenue exposure to China on the list. While many of these companies sell chips to manufacturers to use in products such as phones created in China, these products ultimately end up being sold back in the United States, blurring the line on what their end markets are. Estee Lauder , Cboe Global Markets , auto suppliers Aptiv and BorgWarner , and Corning , which is widely known for providing popular glass used in smartphones and tablets, were also included in the screen.

https://www.cnbc.com/2015/10/08/the-next-stocks-to-get-hit-by-the-china-earnings-threat.html

BWA

BorgWarner

The next stocks to get hit by the China earnings threat

As third-quarter earnings season kicks off this week, one company's report is already showing signs of stress from a decelerating Chinese economy. Shares of Yum Brands plunged 19 percent Wednesday after reporting earnings that fell short of expectations, with China results particularly disappointing. Skin care company Nu Skin also saw its stock plummet on lower-than-expected sales in the Asian country. And according to some traders, China could cause a lot more trouble as third-quarter earnings season heats up. Erin Gibbs, equity chief investment officer of S&P Capital IQ, said she is concerned about companies with more than 10 percent of sales coming out of China. These include consumer discretionary stocks Delphi , BorgWarner and Leggett & Platt . "BorgWarner had 11 percent of its sales last year come from China, and was expected to have a much higher percentage after their $550 million expansion program," Gibbs said. "They too could make missteps, or see lower-than-expected growth like Yum." China accounts for 16 percent of sales for auto parts manufacturer Delphi, and 10 percent for bedding company Leggett & Platt. Read More Who's next after Yum, Nu Skin China shockers? Meanwhile, technician Todd Gordon of TradingAnalysis.com said semiconductor stocks could be the next group to fall. According to Gordon, semiconductor companies have "amazing overseas exposure" to China's market, and the semiconductor ETF (SMH) tends to move in step with the China large-cap ETF (FXI) .

https://www.cnbc.com/2015/02/17/tech-investor-beating-market-stick-with-apple.html

BWA

BorgWarner

Tech investor beating market: Stick with Apple

Paul Meeks is beating the market this year with his "Squawk Box Platinum Portfolio" by relying heavily on Apple's big run. An airline is dragging on his returns, but he's staying with that pick as well. The director of institutional investing at Saturna Capital doesn't believe the skepticism that after a 15 percent gain this year and iPhone 6 sales higher than the most optimistic analysts, Apple needs new products to keep driving gains. The "continued iPhone 6 ramp (will) last a few more quarters," said Meeks. "China's (a) driver and the Apple Watch a potential kicker." The investor, with an expertise in technology investing from running $7 billion worth of funds focusing on that sector at Merrill Lynch, also highlighted Apple's 1.48 percent dividend and monster buybacks as reasons to keep owning the largest company in the world. Apple is currently in a capital distribution program, returning $130 billion back to investors from 2012 to April. With that three-year anniversary approaching, investors are expecting even bigger buybacks and dividends to be announced by the company soon. Read More Meeks: Apple, BorgWarner to ride out correction After nearly doubling in 2014, Delta Air Lines' shares are off 10 percent this year as crude oil prices rebounded from their lows. But Meeks sees still-lower jet fuel prices and a tightly run ship leading to a rebound in the stock. "Fundamentals were fine when oil was over $100 a barrel. I don't know where crude settles, but obviously a lower price is a tailwind." While Delta is down, his third pick, BorgWarner , joins Apple this year with double-digit gains leading his portfolio to a total 5 percent return this year. The S & P 500 is up just over 1 percent. The investor said this about BWA when he bought the shares to start the year: "BWA plays into two critical themes, fuel efficiency and emissions reduction. I calculate that this stock is worth at least $65." To see Meeks' portfolio and the other competitors in the "SquawkBox Platinum Portfolio" click here . —With reporting by Katy Byron An Apple Store in Tianjin, China. Getty Images

https://www.cnbc.com/2015/04/15/your-first-trade-for-thursday-april-16.html

BWA

BorgWarner

Your first trade for Thursday, April 16

Trader disclosure: On April 15, 2015 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long T, BAC, C, DIS, XOM, F, GE, GM, GOOGL, INTC, SUNE, today he sold FXI, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YNDX. Dan Nathan is long BBRY June call spread, IWM April put fly, M May call spread, NKE call spread, QQQ May 108/ 98 put spread, SHAK, T, TWTR, WMT June call spread, XHB April 35/32 put spread, XLP May Put Spread. Steve Grasso is long AAPL, EVGN, MJNA, PFE, T, TWTR, GDX, he bought BAC, BTU today, his firm is long AMZN, IBM, MCD, NE, OXY, VALE, RIG, his kids own EFG, EFA, EWJ, IJR, SPY. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. Morgan Stanley Lead Auto Analyst Ravi Shanker: As of March 31, 2015, Morgan Stanley beneficially owned 1% or more of a class of common equity securities of the following companies covered in Morgan Stanley Research: American Axle & Manufacturing Holdings Inc, Avis Budget Group Inc, Delphi Automotive PLC, Fiat Chrysler Automobiles NV, Hertz Global Holdings Inc, Lear Corporation, Lithia Motors Inc., Meritor Inc, Mobileye NV, Sonic Automotive Inc, Tesla Motors Inc..Within the last 12 months, Morgan Stanley managed or co-managed a public offering (or 144A offering) of securities of Avis Budget Group Inc, Fiat Chrysler Automobiles NV, Ford Motor Company, General Motors Company, Johnson Controls, Inc., Mobileye NV, Sensata Technologies Holding N.V., Tenneco Inc.. Within the last 12 months, Morgan Stanley has received compensation for investment banking services from Avis Budget Group Inc, Fiat Chrysler Automobiles NV, Ford Motor Company, General Motors Company, Johnson Controls, Inc., Mobileye NV, Sensata Technologies Holding N.V., Tenneco Inc.. In the next 3 months, Morgan Stanley expects to receive or intends to seek compensation for investment banking services from Amphenol Corp., Autoliv, Avis Budget Group Inc, BorgWarner Inc., Dana Holding Corp., Delphi Automotive PLC, Fiat Chrysler Automobiles NV, Ford Motor Company, General Motors Company, Goodyear Tire & Rubber Company, Harley-Davidson Inc, Hertz Global Holdings Inc, Johnson Controls, Inc., Lear Corporation, Magna International Inc., Mobileye NV, Sensata Technologies Holding N.V., Sonic Automotive Inc, Te Connectivity Ltd, Tenneco Inc., Tesla Motors Inc., TRW Automotive Holdings Corp.. Within the last 12 months, Morgan Stanley has received compensation for products and services other than investment banking services from American Axle & Manufacturing Holdings Inc, Amphenol Corp., Autoliv, Avis Budget Group Inc, BorgWarner Inc., Dana Holding Corp., Delphi Automotive PLC, Fiat Chrysler Automobiles NV, Ford Motor Company, General Motors Company, Goodyear Tire & Rubber Company, Harley-Davidson Inc, Hertz Global Holdings Inc, Johnson Controls, Inc., Lear Corporation, Meritor Inc, Sensata Technologies Holding N.V., Te Connectivity Ltd, Tenneco Inc., TRW Automotive Holdings Corp.. Within the last 12 months, Morgan Stanley has provided or is providing investment banking services to, or has an investment banking client relationship with, the following company: Amphenol Corp., Autoliv, Avis Budget Group Inc, BorgWarner Inc., Dana Holding Corp., Delphi Automotive PLC, Fiat Chrysler Automobiles NV, Ford Motor Company, General Motors Company, Goodyear Tire & Rubber Company, Harley-Davidson Inc, Hertz Global Holdings Inc, Johnson Controls, Inc., Lear Corporation, Magna International Inc., Mobileye NV, Sensata Technologies Holding N.V., Sonic Automotive Inc, Te Connectivity Ltd, Tenneco Inc., Tesla Motors Inc., TRW Automotive Holdings Corp.. Within the last 12 months, Morgan Stanley has either provided or is providing non-investment banking, securities-related services to and/or in the past has entered into an agreement to provide services or has a client relationship with the following company: American Axle & Manufacturing Holdings Inc, Amphenol Corp., Autoliv, Avis Budget Group Inc, BorgWarner Inc., Dana Holding Corp., Delphi Automotive PLC, Fiat Chrysler Automobiles NV, Ford Motor Company, General Motors Company, Goodyear Tire & Rubber Company, Harley-Davidson Inc, Hertz Global Holdings Inc, Johnson Controls, Inc., Lear Corporation, Lithia Motors Inc., Meritor Inc, Sensata Technologies Holding N.V., Te Connectivity Ltd, Tenneco Inc., Tesla Motors Inc., TRW Automotive Holdings Corp.. Morgan Stanley & Co. LLC makes a market in the securities of American Axle & Manufacturing Holdings Inc, Amphenol Corp., Asbury Automotive Group Inc, Autoliv, AutoNation Inc., Avis Budget Group Inc, BorgWarner Inc., Carmax Inc, Dana Holding Corp., Delphi Automotive PLC, Ford Motor Company, General Motors Company, Goodyear Tire & Rubber Company, Group 1 Automotive, Inc, Harley-Davidson Inc, Harman International Industries Inc., Hertz Global Holdings Inc, Johnson Controls, Inc., Lear Corporation, Lithia Motors Inc., Magna International Inc., Meritor Inc, Penske Automotive Group, Inc, Sensata Technologies Holding N.V., Sonic Automotive Inc, Te Connectivity Ltd, Tenneco Inc., Tesla Motors Inc., TRW Automotive Holdings Corp..

https://www.cnbc.com/2022/10/21/stocks-could-continue-to-break-higher-as-apple-big-tech-report-earnings-in-week-ahead.html

BWA

BorgWarner

Stocks could continue to break higher as Apple, big tech report earnings in week ahead

Stocks are expected to take their cue from the bond market in the week ahead, as investors weigh earnings from bellwethers Apple, Microsoft, and Alphabet. Strategists continue to watch the market's trading patterns for signs a bottom is forming after the Oct. 13 washout, when the market first fell and then surged following a hotter-than-expected September consumer inflation report. Some strategists also say it appears Treasury yields may have peaked — at least temporarily — and that could help stocks. Stocks were higher in the past week despite a sharp runup in Treasury yields. The closely watched benchmark 10-year yield touched a high of 4.33% Friday, before retreating to about 4.21%. The yield went on a wild ride, after ending the prior week at 4.02%. The three major averages closed higher Friday, with the S & P 500 adding 2.37% to close at 3,752.75. The Nasdaq Composite gained 2.31% to end at 10,859.72. The Dow Jones Industrial Average gained 748.97 points, or 2.47%, to reach 31,082.56. "Even though we're only three weeks into the month, we're ahead of the average [stock market] volatility in October by 50%," said Sam Stovall, CFRA chief market strategist. "On average, October sees 5.4 days where it sees 1% volatility, and this month we've had eight so far." Stovall said the S & P 500 had six positive moves of 1% or more in the last 17 trading days, as of Friday. "And five of those were up by more than 2%. Each of those strong jumps were then smacked down by a series of negative days," he said. "A lot of time, volatility in that tug of war is a signal a bottom is being formed." Strategists have been looking for signs the market is near a bottom, since historically stocks typically rally into the end of the year during mid-term election years. Treasury yields reversed some of their rapid run higher Friday, after the Wall Street Journal published an article suggesting the Fed could consider a smaller rate hike in December after it raises rates by another three-quarters point in early November. Yields move opposite to price. San Francisco Fed President Mary Daly made a similar comment Friday, saying the Fed is close to a point where it should consider slowing rate hikes. That could be good for stocks. "Yields will have a direct impact on earnings going forward, and also yields would have an impact on how deep or shallow a recession will be," said Stovall. "Yields are still the key. That's why the market is rallying [Friday] because of the hint that the Fed might consider a 50 basis points hike in December, not 75." (A basis point equals 0.01 of a percentage point) AmeriVet rate strategist Greg Faranello said it's possible the 10-year yield may have reached a temporary peak Friday morning. "If you look at the momentum and volatility, you can talk yourself into it peaking in and around these levels. Typically the moves back down have been very violent as well," Faranello said. He said the yield could hold and begin to slide back down, but that does not mean it is a longer term top. "Next week is going to be wild too," he said, noting that both the Bank of Japan and European Central Bank hold rate meetings Thursday. The Federal Reserve then holds its next meeting the following week, on Tuesday and Wednesday, Nov. 2-3. "It's the level of interest rates that are driving equities," said Gargi Chaudhuri, head of BlackRock's iShares investment strategy America. "I would like to say it's going to be the trajectory of earnings, but frankly that's not what we're finding. It's not the micro driving markets these days. It's the macro." Earnings, earnings, earnings About 150 S & P 500 companies report earnings in the coming week. Amazon and Meta Platforms are among those reporting, as well as Exxon Mobil and Chevron. Strategists have expected the earnings season would make for choppy trading as estimates are revised lower. Stovall points out that expectations for third quarter profits have gotten progressively weaker. "Actually on June 30, expectations were for a 10% gain in earnings. As of September 30, it was a 3% gain, and now it looks like it's going to be a 2% gain," Stovall said. He said technology earnings are expected to be down 4%, but system software is down almost 7%. Internet and direct market retail profits are expected to plunge 42%, he added. "The earnings are going to be challenging," Stovall said. Chaudhuri said earnings will also be important for not only what companies reveal about future profits, but also about the macro picture. "I'll be watching earnings to see what companies are talking about as it comes to...the margin pressures they're feeling, how the higher and stronger dollar has impacted their businesses," she said. "We'll also be looking to hear about hiring plans or if there are any job freezes. It doesn't have to be firing plans, but is there something to take away from companies, looking to freeze hiring." Chaudhuri said she expects even if the market heads higher, it could retest the bottom set on Oct. 13, when the S & P 500 got as low as 3,491. "We could have a period of buying in the market, a sentiment-driven technical shift that could lead to a lot of people buying," she said. "Overall, I would still approach the equity market with a very defensive stance." She recommends using minimal volatility strategies that reduce downside risk. Technically speaking Scott Redler, partner with T3Live.com, said he is watching a formation in the S & P 500 that could be positive. The S & P was in the area around 3,735 by week's end, which would be the neckline in an inverted head and shoulders pattern in the index. He said the shoulder was building all week. If completed, the pattern is positive for forward momentum, just like the traditional head and shoulders pattern is negative. Redler watches short-term technical trends, and he expects Fridays' action in the 10-year yield signaled a temporary top in interest rates. "There was a bit of capitulation in TLT [the iShares 20+ year Treasury ETF ]. It feels like [Friday] put in a short-term low," he said. "That would help next week." He said the big tech earnings will be important. "As long as they're not disasters, it feels like the path of least resistance is higher," he said. His first target for the S & P 500 is 3,800. "I think a really hard spot would be 3,900, " he said. He noted that it was a positive that banks have been participating in the rally since reporting earnings. "Energy is actually breaking out again," he said. Week ahead calendar Monday Earnings: Discover Financial , Zions Bancorp, TrueBlue 9:45 a.m. October manufacturing PMI 9:45 a.m. October services PMI Tuesday Earnings: Alphabet , Microsoft , Visa, Coca-Cola, UPS, 3M , Raytheon Technologies, JetBlue, Archer Daniels Midland, Cleveland-Cliffs, General Electric, General Motors, Chubb, Chipotle Mexican Grill, Boyd Gaming, Enphase Energy, Ameriprise, UBS, Novartis, SAP, Biogen, Corning, Kimberly-Clark, PulteGroup, Synchrony Financial, Centene, Valero Energy , Polaris, HSBC, Moody's, Sherwin-Williams, MSCI, Juniper Networks 9:00 a.m. S & P/Case-Shiller August home prices 9:00 a.m. FHFA August home prices 10:00 a.m. October consumer confidence Wednesday Earnings: Boeing, Meta Platforms, Ford, Bristol-Myers Squibb , General Dynamics, Kraft Heinz, Penske Auto Group, Harley-Davidson, Norfolk Southern, Seagate Technology, Brink's, Hess, Wingstop, Waste Management, Molina Healthcare, O'Reilly Automotive, SLM, United Rentals, Raymond James, Canadian Pacific, Flex , Olin, Pilgrim's Pride, Ethan Allen , Fortune Brands, Frontier Group, Teladoc Health, Samsung Electronics, Vale, Weyerhaeuser, Southwestern Energy, Hartford Financial , Mohawk Industries, Capital One, First Solar, Yamana Gold, Edwards Lifesciences, Eastman Chemical 8:30 a.m. Advance economic indicators 10:00 a.m. September new home sales Thursday Earnings: Apple, Amazon, Intel, McDonald's, Merck, Caterpillar, Honeywell, Northrop Grumman, Comcast, Anheuser-Busch, Mastercard , Gilead Sciences, T. Rowe Price, Hertz Global, Ambev, PG & E, Travel+Leisure, Textron, Southern Co, Carrier Global, BorgWarner, Lazard, Oshkosh, Reliance Steel, AutoNation, Southwest Air , Altria, American Tower, International Paper, Shopify, S & P Global, Sonic Automotive, Tradeweb Markets 8:30 a.m. Weekly initial jobless claims 8:30 a.m. September durable goods 8:30 a.m. Real GDP Q3 (advance; first preliminary) Friday Earnings: Exxon Mobil , Chevron, Colgate-Palmolive, LyondellBasell, Newell Brands, Booz Allen Hamilton, Bloomin' Brands, Church and Dwight , AbbVie, AllianceBernstein, Equinor, Airbus, W.W. Grainger, DaVita 8:30 a.m. September personal income and spending 8:30 a.m. 3Q employment cost index 10:00 a.m. September pending homes 10:00 a.m. October consumer sentiment

https://www.cnbc.com/2021/11/28/the-office-building-design-idea-key-to-worker-health-in-covid-era.html

BXP

Boston Properties

The office monitor workers will find more common in the Covid era is surveilling the air

In this article CRM BXP Follow your favorite stocks CREATE FREE ACCOUNT An employee works on a laptop computer at the Salesforce Tower in San Francisco, which opened in 2018. It is among companies that have focused on office air quality as part of building design standards. Bloomberg | Bloomberg | Getty Images Since the beginning of the Covid-19 pandemic, employees, managers and senior executives have been taking a closer look at what makes a workspace healthy. The pandemic brought an influx of sanitizing wipes, hand sanitizer dispensers and social distancing signage into office spaces. Harvard professor Joseph Allen says there's one safety measure offices can't overlook. Healthy workspaces rely primarily on the air employees breathe, and research going back years before the pandemic shows that improvements in air ventilation and air quality lead to increased cognitive function and work productivity. One study conducted by Allen's Healthy Buildings program at Harvard's T.H. Chan School of Public Health found there is no threshold for how greater air ventilation positively impacts cognitive function for workers. "Across the globe, we had over 350 workers and we followed them for an entire year. We had air quality sensors at their desk," said Allen, associate professor and director of the program. In the study, the workers would be periodically pinged through an app to take these cognitive function tests while at their desk, in order to look at the real-time impact of air quality on the performance of office workers around the world. watch now What Allen and the other researchers found in the COGfx study should transform the way companies across the world think about productivity investments. Salesforce, Boston Properties and Armstrong World Industries are among the companies in the U.S. that have worked with Allen, either as part of the COGfx study or with Allen's healthy building consultancy team which created the 9 Foundations to improve air quality in their buildings, "the things that we know science tells us are important for human health, wellbeing and productivity," Allen says. "The big challenge of our time is how do we ventilate," said Amazon Chief Medical Officer Vin Gupta, speaking at the recent CNBC @Work Summit and referencing the Harvard researchers' findings. Salesforce focus on air in employee education For many companies, the ability to attract and retain talent will depend on safety precautions and comfort level with a particular work environment. The Salesforce Tower in San Francisco, which opened in 2018, has received high environmental scores, but the company thinks it's important to make sure employees understand that design and approach goes beyond energy considerations and directly to health. Salesforce participated in the COGfx study, where air quality sensors were installed in an office and cognitive function of a group of employees who volunteered was monitored. Regular testing of indoor air quality can be part of the LEED, or Leadership in Energy and Environment Design, certification process given to green buildings from the U.S. Green Buildings Council and result in additional LEED credits — which Salesforce has received — though it does not need to be done as part of the initial LEED requirements. "We think it's really important to communicate to our employees because a lot of this stuff is not seen. They don't know. They see a LEED plaque on the wall. They don't know what goes into a LEED certification," said Amanda von Almen, head of sustainable built environment at Salesforce. "It's really about us providing a holistic environment where employees feel safe," added Sean Luster, vice president of real estate and workplace services at Salesforce. "It's a behavioral change for a lot of employees." Betting on worker 'flight to quality' ventilation Boston Properties , a real estate investment trust company that owns office buildings across the country including in New York City, Los Angeles and Washington, D.C., has worked with Allen on improving the indoor air quality in its workspaces. "Personally, I leave a monitor in my office," said Ben Myers, the vice president of sustainability at Boston Properties. "We have indoor air quality monitors where we're looking at CO2 concentration, and that was a result of Dr. Joe Allen's work. He made us aware of the effect of higher CO2 concentrations on cognitive performance." Boston Properties is betting that as more commercial tenants get pickier about the real estate they pay for in the new work reality triggered by Covid, a premium will be placed on factors including health. "What we are seeing is a flight to quality," Myers said. "Higher quality office spaces have outperformed lower quality office space in terms of tenant rents and retention. ... There's an expectation that these higher quality buildings will have high quality indoor air." While measuring productivity can be hard, Myers said companies can measure air quality in real time and set regular tests for contaminants in the workspace. "Boston Properties has set a minimum testing requirement in its buildings of twice per year for air quality parameters to be in line with CO2 concentration, and regularly testing for air contaminants like mold, to make sure that the buildings have healthy conditions. "And that's about the best you can do," Myers said. Work is a living lab for our health

https://www.cnbc.com/2023/05/27/commercial-real-estate-firms-join-to-recruit-black-student-athletes.html

BXP

Boston Properties

Why major commercial real estate firms are joining resources to recruit Black student-athletes

Cedric Bobo discusses a new program for Black student-athletes to transition into the commercial real estate market. When Darius Livingston graduated from the University of California, Davis, two years ago, he knew his football career was over. Like most of his former teammates — and the majority of college athletes — he wasn't going pro. Instead, Livingston went into commercial real estate, thanks to lessons he learned from a paid internship program that teaches young students of color the fundamentals of finance, with a particular focus on real estate investing. The program, Project Destined, is a social impact platform founded by former Carlyle Group principal Cedric Bobo. Bobo made a name for himself in real estate investing and then decided to pay it forward. He launched the finance program in 2016 primarily for high school students. Then he broadened it to colleges, seeing the opportunity for both internships and jobs before and after graduation. Eager to diversify their workforces, some of the largest real estate development, finance and management firms have signed on to fund the internships and mentor the students. That includes names like Boston Properties , Greystar, Brookfield, CBRE , Equity Residential , Fifth Wall, JLL , Skanska, Vornado and Walker & Dunlop. The program has trained more than 5,000 participants from over 350 universities worldwide and has partnered with over 250 real estate firms. And now, it's gearing some of its efforts specifically toward Black student-athletes. After doing a pilot program recently with student-athletes from UC Davis, Bobo has announced a partnership with the Black Student-Athlete Summit, a professional and academic support organization, to offer paid, virtual internships to 100 student-athletes from nine Division I schools. It includes 25 hours of training. "Program participants will also join executives to evaluate real-time commercial real estate transactions in their community and compete in pitch competitions to senior industry leaders," according to a release announcing the partnership. "The internship includes opportunities for scholarships and networking." Livingston went through the UC Davis pilot in his last semester of college, then got internships with Eastdil and Eden Housing. He is now an acquisitions and development associate at Catalyst Housing Group, a California-based real estate development firm and a financial backer of the new partnership.

https://www.cnbc.com/2023/03/03/hows-return-to-office-going-look-at-one-of-the-largest-office-reits.html

BXP

Boston Properties

How's the return to office going? Just look at shares of one of the largest office REITs

For a window into how America's return to the office is going in the first quarter of 2023, not to mention the effect of surging interest rates on commercial real estate in general, look no further than the shares of Vornado Realty Trust ( VNO ). At one point on Thursday, shares in the real estate investment trust headed by CEO Steven Roth had fallen 59.5% from their 52-week high a year ago — and almost 80% from their all-time reached in early 2015. In fact, Vornado shares on Thursday briefly touched their lowest level since 1998. VNO 5Y mountain Vornado over past five years The vast majority of Vornado's portfolio is concentrated in what it calls "the nation's key market — New York City," along with far smaller holdings in Chicago and San Francisco. Vornado says it owns 20 million square feet of office space plus 2.6 million square feet of street retail space in Manhattan alone, 3.7 million square feet at The Mart in Chicago and a controlling stake in almost 2 million square feet of office in San Francisco. One problem for Vornado is that the national office occupancy rate last week — as measured by the number of employees coming into the office rather than working from home — topped 50% "for only the second time since the start of the pandemic," according to Kastle Systems, which monitors the number of employees swiping in each day. But in the New York metropolitan area last week, the rate fell to 46.7% from 47.8% the week before, Kastle said. In San Francisco, the rate was even lower last week, at 43.9%, while in Chicago it was 49.4%. Maybe that's why Vornado took a $600 million non-cash impairment charge in a retail joint venture in New York City in late January. All REITs face a second problem: the higher cost of capital. With the Federal Reserve raising benchmark interest rates for the past year to almost 5% from almost nothing, that also raises capitalization rates in real estate, increasing the level of risk. Vornado owed $8.39 billion in proforma long-term debt as of March 1, according to FactSet. Deutsche Bank analyst Derek Johnston ranked office REITs last out of eight REIT subindustry groups in a monthly review released on Tuesday. In January, subsector year-over-year cap rates climbed the most for office owners, he said, up 80 basis points, or 8/10ths of a percentage point. Vornado's fourth-quarter results and earnings call were "directionally … positive," JPMorgan analyst Anthony Paolone wrote last week, but "VNO still has a lot of wood to chop with respect to managing its capital structure (higher leverage and rate exposure than peers) in the years to come amidst a challenging office environment." He has an underweight rating on Vornado and a price target of $20. That said, Vornado's woes are far from unique. Boston Properties ( BXP ) touched its lowest since 2010 on Thursday, while Hudson Pacific Properties ( HPP ) on an intraday basis Thursday fell to a record low, going back to its 2010 initial public offering. Elsewhere, JBG Smith Properties ( JBGS ) intraday dropped to the lowest since its 2017 IPO, and Kilroy Realty ( KRC )'s 52-week low was its weakest price since 2011. — CNBC's Michael Bloom contributed to this report.

https://www.cnbc.com/2023/05/10/jim-cramers-top-10-things-to-watch-in-the-stock-market-wednesday.html

BXP

Boston Properties

Jim Cramer's top 10 things to watch in the stock market Wednesday

My top 10 things to watch Wednesday, May 10 1. Here comes the 14th Amendment: Public debt "shall not be questioned." President Joe Biden should use the 14th to end the debt ceiling crisis, says Harvard's Laurence Tribe, my constitutional law professor. Tribe is probably the foremost legal scholar of our time. Biden's meeting at the White House on Tuesday with Democrats and Republicans from Capitol Hill was a bust. But they agreed to gather again Friday. 2. Wall Street is keen to see a debt ceiling deal before the June deadline while also watching the latest inflation data. April's consumer price index: better than feared at 4.9% year-over-year growth and first sub-5% reading in two years. The producer price index is out Thursday. The D ow, the S & P 500 and the Nasdaq are set to open higher Wednesday on hopes Fed will pause after fairly muted trading in the prior session. 3. The series of major cost-cutting moves at Walt Disney (DIS) under CEO Bob Iger won't readily improve profits. The Club holding reports its fiscal 2023 second-quarter results after the bell. Here's why the entertainment giant will need at least another quarter to see meaningful benefits from Iger's turnaround plans. 4. Club holding Wynn Resorts (WYNN) reported a much better-than-expected first quarter after the closing bell Tuesday. Properties in Las Vegas and Boston continued to impress. But what helped deliver an unexpected profit was the recovery in the Asian gambling hub of Macao. It allowed Wynn to reinstate a quarterly dividend. 5. Rivian Automotive (RIVN) says it remains on target to make 50,000 vehicles in 2023. Narrower-than-expected loss for the first quarter. The stock up 7% early Wednesday. Potential for a short squeeze. 6. Airbnb (ABNB) shares sink 15%. Lowers second-quarter guidance and it's horrendous. Lowering so severely that you have to be concerned. Multiple price-target cuts. Mix of analysts keeping buy or neutral ratings. 7. Back in late February, it was reported that Jeff Lawson, co-founder and CEO of Twilio (TWLO), bought $10 million worth of stock in his company. "We're feeling the impact of a broader slowdown," Lawson said after delivering weak second-quarter guidance. The stock plunges 18%. 8. Affirm (AFRM) shares fall 4.5%. Complicated, great quarter at the buy now, pay later company. But truly less than positive going forward. Gross merchandise volume. Reduced discretionary spending. Multiple PT cuts. Mix of analysts keeping buy or neutral ratings. 9. Akamai (AKAM) shares rise 5%. Cybersecurity business strong. Internet infrastructure less important than security. Competitor to Cloudflare (NET). Computing is cloud computing. I wonder if this isn't a good sign for Club holding Palo Alto Networks (PANW). 10. Stanley Druckenmiller says it's naive not to be open-minded to an economic hard landing. Back in late September 2022, the hedge fund pioneer warned bad inflation was coming. Said he corrected but the Fed did not. Fast-forward to today, what if the Fed did correct? Druckenmiller calling for a recession for a while, yet Wall Street keeps running. You can be right about inflation and wrong about the market. That's been the issue with Stan, as much as I love him. (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. My top 10 things to watch Wednesday, May 10

https://www.cnbc.com/2022/07/05/metropolitan-areas-with-the-most-million-dollar-homes.html

BXP

Boston Properties

These 5 metros have the most million-dollar homes: If you're selling, here's what to know about the tax consequences

Million-dollar homes aren't common in the U.S., but you're more likely to find these properties along the coasts. That's according to a LendingTree study that ranked the country's 50 biggest metropolitan areas by the share of owner-occupied properties worth $1 million or more. The average share of million-dollar owner-occupied homes in the 50 biggest metros is 4.71%. But in San Jose, California, 52.89% are worth $1 million or more, and in San Francisco, 40.37% are. More from Personal Finance: How to sidestep a tax bomb when selling your home Here's how to know how much student loan debt you can afford Inflation is making July 4 celebrations more expensive than ever Other metros with the highest share of million-dollar properties included Los Angeles, San Diego, New York, Seattle, Boston, Washington, Miami and Denver. By comparison, places like Buffalo, New York; Cleveland and Pittsburgh had the smallest share of million-dollar homes, representing less than 1% of owner-occupied properties.

https://www.cnbc.com/2023/03/30/cramer-a-recession-may-be-coming-but-for-now-the-signs-are-invisible.html

BXP

Boston Properties

A recession may be coming, but Jim Cramer says he's not seeing the early signs yet

CNBC's Jim Cramer said Thursday that he's still searching for the first sign of a recession, even though it's all anyone seems to be talking about. "Maybe the recession's coming; maybe the credit crunch is right upon us," Cramer said. "But until then, I think it's pretty invisible." Cramer said in many industries, there are actually signs of strength. The giant Salesforce tower in San Francisco-owned by Boston Properties has multiple inquiries for leases to get into the building, Cramer said. The company also has "incredibly low" vacancies in several cities, he noted. Meanwhile, timeshare company Marriott Vacations Worldwide has racked up 12% contract sales growth for the quarter and is predicting a "very solid" 2023, according to Cramer. Competing timeshare company Travel + Leisure has said it is not seeing a slowdown. In retail, aside from Party City, there aren't many bankruptcies and somehow "deeply troubled" Bed Bath & Beyond is still alive, Cramer noted. "We've had red-hot economies in the past with more retail closures than we're seeing right now," Cramer said. Unless you've been laid off by a tech company, or you work at Party City or Bed Bath & Beyond, "you're probably doing pretty darn well right now," Cramer said.

https://www.cnbc.com/2023/03/23/wall-street-analyst-street-calls-on-thursday-includes-first-republic.html

BXP

Boston Properties

Here are Thursday's biggest analyst calls: Tesla, First Republic, Coinbase, Boeing, Pinterest & more

Here are Thursday's biggest calls on Wall Street: Morgan Stanley reiterates Tesla as overweight Morgan Stanley said Tesla could eventually be a solution to vehicle affordability. "If you haven't bought a new car since before COVID you may be in for a shock. In an era of higher rates and tighter lending, we look for 'smaller and cheaper,' creating share shifts away from the domestics towards import brands and ever-cheaper EVs." Guggenheim upgrades Accolade to buy from neutral Guggenheim said it's getting more constructive on shares of the personalized healthcare decisions company. "Additionally, we hosted ACCD management for a series of investor meetings and came away with reinforced confidence in our upgrade. With the improved growth outlook and profitability, we think that investors are likely to reward the company with a higher multiple." Truist upgrades BellRing Brands to buy from hold Truist said the time is right to buy shares of the food products company. "Furthermore, we believe the business momentum will be better appreciated by investors as many of its packaged food peers start to experience decelerating growth." Stifel initiates Dynatrace as buy Stifel said the global tech company is a "leader in the space." "Over the last several years, the company — with its modern, cloud-based, enterprise focused Observability platform that customers can use to effectively monitor onprem and cloud workloads — has quickly established itself as a leader in the space." Piper Sandler naming Coty a top pick Piper named the beauty company as a top pick after a recent round of store checks. "We're reiterating ELF as a top idea and are also moving COTY to a top idea following a round of beauty store checks in Chicago, IL and recent positive company updates from COTY." Citi moves First Republic to an under review rating Citi moved to an under review rating on First Republic due to too much uncertainty. "We are withdrawing our Neutral rating, US$132 target price, and financial estimates and moving to an 'Under Review' rating to reflect recent volatility in the shares, the lack of information on specific deposit outflows, and a wide array of potential outcomes including takeover, capital raise, and/or government intervention." Barclays upgrades Regency to overweight from equal weight Barclays said in its upgrade of the real estate investment trust that it sees an attractive entry point. "After the recent volatility in REITs, we are upgrading Regency to Overweight." Read more about this call here . Citi upgrades Marathon to buy from neutral Citi said in its upgrade of the petroleum company that it's a quality stock. "We upgrade PXD and MRO to Buy and downgrade OVV to Neutral as we recommend investors focus on catalysts and quality within E & P." BMO initiates Disc Medicine as outperform BMO said the stock is compelling and could rally 80%. "Bitopertin, Disc's lead asset, represents a compelling value proposition for investors. Bitopertin has demonstrated a very clean, relatively de-risked safety profile, backed by extensive Ph 3 data from Roche (previous owner) in schizophrenia." Read more about this call here . Citi resumes AMC as sell Citi said AMC are still overlevered. "While we suspect AMC may be able to reduce leverage as the US box office recovers and via equity issuance, we believe AMC's common equity is overvalued at prevailing levels." Piper Sandler reiterates Meta and Pinterest as top picks Piper said it's standing by shares of Meta and Pinterest. "With PINS, we see improving user trends, supply growth inflecting, and multiple monetization initiatives. Plus Street FY23 estimates look reasonable, and we could see a partnership announcement. OW-rated META remains focused on efficiency and last week saw another round of layoffs." UBS reiterates Hershey as buy UBS called the candy and chocolate company a "best in class compounder." "On 03/22/23, Hershey hosted an in-person investor day at its HQ, its first since 2017. Our most important takeaway was that the company expects to achieve the high end of its LT (long term) algo in FY24 and FY25." Morgan Stanley downgrades Samsara to equal weight from overweight Morgan Stanley said it sees a more balanced risk/reward for the connected cloud tech company. "While we still see a long runway for IOT's Connected Operations Cloud to support continued growth and improving efficiencies, IOT's outperformance of > 40% YTD balances the risk/reward from here." Oppenheimer downgrades Coinbase to perform from outperform Oppenheimer said it sees an "unhealthy regulatory climate" for Coinbase. "While we remain highly supportive of blockchain/digital asset development in the US, under this unhealthy regulatory climate, we are increasingly worried about the fairness of the enforcement actions, and the ability for the ecosystem to grow with seemingly limited and shrinking support from the banking system in the US." Read more about this call here. Wolfe reiterates Boeing as outperform Wolfe said it sees an attractive entry point for the stock. " BA shares < $200 represent an attractive entry point as the path to $10B+ FCF in '25/'26 becomes more clear with rate ramps & improved execution." Deutsche Bank downgrades Chewy to hold from buy Deutsche downgraded the stock after its earnings report Wednesday and said it's concerned about declining users. " Chewy delivered 4Q results that came in ahead of our more cautious outlook, with pricing being the primary upside driver across the P & L. That said, consistent with our checks, users returned to declines in the 4Q, with Chewy seeing users decline by ~120k in the quarter." BTIG initiates HashiCorp as buy BTIG said in its initiation of the software company that it has market expansion potential. "And ultimately, we left our work with a good degree of confidence in HCP's ability to meet or exceed Street estimates over the next three years." BMO reiterates Workday as outperform BMO said Workday has a "durable model." "We think the stock offers a good balance of offense and defense with a path for upside as growth initiatives from the new co-CEO take hold." Barclays downgrades SL Green to underweight from overweight and Boston Properties to equal weight from overweight Boston Properties said it sees refinancing risks for the REIT. "Given this and other challenges (hybrid work, corporate layoffs), we increase cap rates across the board, resulting in downgrades of SLG (to UW) and BXP (to EW)."

https://www.cnbc.com/2023/03/23/top-10-things-in-stock-market-thursday-stocks-bounce-ford-evs-apple.html

BXP

Boston Properties

Top 10 things to watch in the stock market Thursday: Stocks bounce, Ford EVs, Apple

Top 10 things to watch Thursday, March 23 1. The Dow , the S & P 500 and the Nasdaq look to rebound Thursday, one day after a sharp, late-session selloff. It was more about Treasury Secretary Janet Yellen's abrupt 180 on deposit insurance than Fed Chairman Jerome Powell's post-interest rate hike press conference. You can't fault Powell for wanting to be a little cautious due to uncertainty of how tight credit conditions have gotten from the recent banking turmoil. 2. Coinbase (COIN) shares sink nearly 15% early Thursday, the morning after the crypto exchange said it received a Wells Notice , a warning by the SEC of potential securities charges. This news, along with a recent White House economic analysis , in which the digital asset industry faced sharp criticism, prompts Oppenheimer to downgrade COIN to perform from outperform (hold from buy) and remove price target. 3. Jack Dorsey's Block (SQ) sinks nearly 18% early Thursday after short-seller Hindenburg Research revealed a bet against the digital payments company. Hindenburg accuses Block, formerly known as Square, of facilitating fraud. Block was not immediately available to respond to CNBC's request for comment. 4. Barclays flags refinancing risk in office REITs, downgrading SL Green Realty (SLG) to underweight (sell) and Boston Properties (BXP) o equal weight (hold). Adds trouble to a group that was already facing headwinds related to hybrid work and layoffs. Office REITs were covered on "Mad Money" on Wednesday, and we warned that the group can still get worse before it gets better. 5. Marathon Oil (MRO) and Club holding Pioneer Natural Resources (PXD) catch upgrades at Citi. Both are added Top E & P pick list, which also includes Diamondback Energy (FANG) and EOG Resources (EOG). They like PXD for its rising well productivity in the second half of the year. Citi has a buy on Devon Energy (DVN) and a sell on Coterra Energy (CTRA), both Club stocks. On Monday, we bought some more PXD . 6. Club holding Ford (F) unveiled its new financial reporting structure ahead of Thursday's teach-in event. Ford Model e (the EV business) lost about $2.1 billion in adjusted EBIT (earnings before interest and taxes) in 2022, and management sees the loss rising to about $3 billion this year. Ford sees revenue minus certain variable costs of its first-generation EVs approaching break-even this year. But that's expected to be more than offset by higher investments in new EV products and manufacturing as the company ramps up capacity. Ford reiterated its commitment to producing 600,000 EVs on a run-rate basis by the end of 2023, scaling up to 2 million by the end of 2026. 7. Club holding Apple (AAPL) increasing its commitment to sports and content? According to reports, the company plans to spend $1 billion a year to make movies that will be released in theaters; and the company is also considering bidding for streaming rights to some English Premier League soccer games. Apple already has Major League Soccer on its TV+ platform after inking a 10-year, $2.5 billion deal. 8. Nvidia (NVDA) price target increased to $300 per share from $270 at Needham, in response to this week's GTC conference. 9. Coty (COTY) added to Piper Sandler's top ideas in beauty after analysts performed a round of checks in stores in Chicago plus recent company updates. Piper switches in COTY for Club holding Estee Lauder (EL), which they continue to like for the long term due to recoveries in China and travel from Covid. They just see stronger near-term upside potential in COTY. 10. Darden Restaurants (DRI) slightly beats on revenues and margins, raising its full-year sales outlook. Same-restaurant sales increased 11.7%, led by Olive Garden up 12.3%. (Jim Cramer's Charitable Trust is long PXD, DVN, CTRA, F, AAPL, NVDA, EL. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. Top 10 things to watch Thursday, March 23

https://www.cnbc.com/2022/09/20/2-sports-execs-launch-firm-to-invest-up-to-50m-in-early-stage-firms.html

BXP

Boston Properties

Two veteran sports execs launch firm aiming to invest up to $50M in early-stage companies

Two longtime sports executives are launching an investment firm they say will back startups capitalizing on the growing opportunities at the intersection of sports, media and entertainment. Velocity Capital Management said Tuesday it will invest up to $50 million in early-stage companies with enterprise values of up to $2 billion. One of Velocity's co-founders is David Abrams, a co-owner of the English Premier League's Crystal Palace and a former private equity partner and chief investment officer of Harris Blitzer Sports & Entertainment, which owns the NBA's Philadelphia 76ers and the NHL's New Jersey Devils. The other co-founder is Arne Reese, who most recently served as the U.S. CEO of Sportradar, a sports technology business. The firm has closed its first investment in Camp NYC, which creates shop-and-play retail experiences based on intellectual property from popular children's entertainment, such as Disney's "Mickey & Friends" and "Paw Patrol." "Camp is a business that cuts across some of the things we've been looking at as a firm," said Abrams. The company's stores, which are a mix of a shopping and interactive experience, are located in New York City, including its flagship location on Fifth Avenue, as well as in New Jersey, California and Texas. Velocity said it has received investment capital from a variety of sources, including Delaware North, a private company with a portfolio that includes more than 50 entertainment and sports venues, sports betting sites and the NHL's Boston Bruins. Other investors include Signify Wealth, an investment advisor with NFL clients; Remington Ellis, a sports marketing and talent agency; Bolt Ventures, a family office that invests in sports and entertainment in the U.S. and Europe; and RWN Management, the family office of Apollo Global Management co-founder Mark Rowan. In an interview, Abrams and Rees said they decided to start Velocity after watching the sports and media ecosystem evolve in such areas as technology, analytics and intellectual property. "For now we are focused primarily on growth-stage companies," said Abrams. "These are companies where we will likely take a non-control investment, but want to play an active role as an advisor or on the board." Abrams and Rees said their background in investing and sports gave them the confidence to get Velocity off the ground. Before joining Harris Blitzer Sports & Entertainment as its chief investment officer in 2018, Abrams served as a partner at Apollo for much of his career. Harris Blitzer — founded by private equity professionals Josh Harris and David Blitzer — also owns the Prudential Center, the arena where the Devils play, and e-sports organization New Meta Entertainment, among other businesses in the sports world. Rees previously guided Sportradar , a data firm that works with sportsbooks, sports federations and media companies, through its IPO in 2021. His resume also includes roles at ESPN and the Union of European Football Associations.

https://www.cnbc.com/2022/12/27/this-goldman-portfolio-beat-the-market-again-this-year-heres-whats-in-it.html

BXP

Boston Properties

This Goldman portfolio is beating the market again this year. Here’s what’s in it

Goldman Sachs has a basket of stocks with a long track record of beating the market and so far, this year is no exception. While the S & P 500 is on track to finish the year down almost 20%, Goldman's High Sharpe Ratio basket outperformed that. It's down just 10% for the year. The basket identifies companies with the highest prospective risk-adjusted returns relative to their sector peers. To find the "Sharpe Ratio," the firm divides the return of a given stock to the consensus 12-month price target by its six-month option-implied volatility. The median stock in the basket is expected to generate a roughly 36% return, compared to the median S & P 500 stock, which is expected to generate a 14% return. Implied volatility of the median stock in the basket is only slightly higher than that of the median S & P stock (36% vs. 31%). Here are 10 of the stocks: Dish Network , Global Payments , Zoetis and Amazon are among the names with the highest Sharpe ratios, although David Kostin, chief U.S. equity strategist, acknowledges that the returns to consensus price targets for individual companies are "almost certainly much too high." "For context, at the index level, we forecast the S & P 500 will deliver a roughly flat return in 2023 with the index closing next year at 4000," he said in a recent note. "Our High Sharpe Ratio basket is constructed based on the relative ranking of stocks within each sector." Dish has the highest prospective return, 149%, of the stocks in the basket relative to its six-month implied volatility, which is also the highest on the list at 61%. The stock also topped a CNBC Pro list of stocks with big potential upside last week, and others on Wall Street have said Dish is perhaps the "biggest opportunity" for incremental return on investment. Global Payments and Amazon also turned up on that list. Tyson Foods , down about 30% for the year, leads consumer staples in the basket with a Sharpe ratio of 0.8. Citigroup , Mosaic and Boston Properties – also newcomers to the list along with Tyson – are slightly ahead of the food distributor at 0.9. Goldman also added Southwest Airlines and energy stock EQT Corp , both of which have a Sharpe ratio above 1.0.

https://www.cnbc.com/2024/02/01/top-stocks-to-buy-on-thursday-nvda-aapl-msft-tgt-tsla.html

BSX

Boston Scientific

Here are Thursday's biggest analyst calls: Nvidia, Apple, Microsoft, Qualcomm, Target, AT&T, Tesla & more

Here are Thursday's biggest calls on Wall Street: Morgan Stanley downgrades ZoomInfo to equal weight from overweight Morgan Stanley said it sees a slowing recovery for the software company. "A slower recovery in sales job postings and increasing competition lowers our outlook on future growth, leading us to downgrade ZI to EW from OW." Oppenheimer reiterates Apple as outperform Oppenheimer said it's standing by the stock heading into earnings Thursday afternoon. "We expect AAPL to report in-line F1Q24 revenues (flat to 1% growth Y/Y) and similar trend for F2Q24." Morgan Stanley reiterates General Motors as overweight Morgan Stanley said it's standing by the auto giant and that GM shares are "cheap." "We raise our PT to $43 from $40… Our revised target puts the stock on just over 5x our FY24 EPS and 4.8x midpoint of company guide." Mizuho reiterates Nvidia as buy Mizuho said it's standing by the stock heading into its GTC Conference in March. "We continue to see NVDA as the best AI/ML play, pushing the tip of the spear in AI training performance, as it hosts GTC 2024 on 3/18-21." Citi downgrades Qualcomm to neutral from buy Citi downgraded the stock after its earnings report Wednesday cited lower-than-expected guidance. "Yesterday after the close, Qualcomm reported good results but guided below Consensus driven by share loss at Samsung." Deutsche Bank upgrades Cigna to buy from hold Deutsche Bank said in its upgrade of Cigna that it's unlikely to make a run at Humana anytime soon. "We believe given what we are seeing in the MA [Medicare Advantage] space, the scenario is extremely unlikely in 2024 and could be a 2025 event at the earliest year." Goldman Sachs initiates Arvinas as buy Goldman Sachs said in its initiation of the biotech company that it sees an attractive risk/reward for Arvinas. "Differentiated protein degrader platform that could expand several major markets; attractive risk/reward on both near catalysts and the intermediate-to-long term commercial opportunity." Goldman Sachs reiterates Microsoft as buy Goldman Sachs said it's standing by the tech giant after its earnings report earlier this week. "We reiterate our Buy rating and $450 PT, as results validate our thesis that Microsoft is sitting at the nexus of the technological shift toward an AI-first IT stack." Redburn Atlantic Equities reiterates Tesla as sell Redburn said it's sticking with its sell rating following Tesla' s disappointing earnings results last week. "Messages from last week's Q4 results add conviction to our Sell thesis." Daiwa upgrades Rockwell Automation to buy from outperform Daiwa said in its upgrade of Rockwell that it sees order trends heading in the right direction for the automation manufacturing company after its earnings report. "Execution Slips But Positive Order Trends Portend Well." JPMorgan upgrades AT & T to overweight from neutral JPMorgan said in its upgrade of AT & T that the stock has an attractive valuation. "The company has been able to show consistent execution in its wireless and broadband businesses and we see solid long-term growth for both segments, especially in broadband with its ongoing fiber build along with incremental opportunities in and out of existing markets." Jefferies initiates Biote as buy Jefferies said the hormone therapy company has "transformative expansion into wellness." " Biote is a hormone optimization provider positioned at the intersection of consumer, tech, and therapeutics." UBS downgrades StoneCo to neutral from buy UBS downgraded the financial services company mainly on valuation. "We are raising the PT to US$21 (from US$18) but downgrading Stone to Neutral following the ~60% rally in last 4 months." Mizuho initiates SilverBow Resources as buy Mizuho said in its initiation of the oil and gas company that it has "undeniable" value. "In our view, the key debate on SBOW is whether a small cap E & P should try to grow scale both organically and via M & A, or should it focus on cash returns and potentially merging into a larger entity to attract investor interest." Wells Fargo initiates Regency Centers as overweight Wells Fargo initiated the shopping center company with an overweight rating and said it sees an attractive entry point. "With investor sentiment improving for Strips, we view REG's stock underperformance of late as a good entry point into this Strip leader with limited tenant credit risk, a history of beats, & an upward earnings bias." JPMorgan downgrades Lennox to underweight from neutral JPMorgan downgraded the air-conditioning and heating solutions company and said it sees caution ahead for the HVAC market. "On valuation, LII has pulled back some, but it remains at a premium/peak relative multiple on consensus we see as being too high/peak." Morgan Stanley names Docebo a top pick Morgan Stanley named the ed-tech company a top pick. " Docebo is at the forefront of innovation in Corporate Learning, with a competitive moat & strong positioning to monetize AI via direct products, upsell to higher priced plans, and indirect platform benefits." Citi initiates Kraft Heinz, Mondelez and J.M. Smucker as buy Citi initiated several food companies on Wednesday night and said it sees upside ahead. "We expect continued strong results from Buy-rated BRBR, MDLZ, and LW. Sentiment could improve for Buy rated KHC and SJM. " Goldman Sachs adds Target to the conviction buy list Goldman Sachs said it sees an attractive entry point for shares of Target. "For TGT, Kate McShane sees a compelling entry point for a company that she expects will get a boost from a return to discretionary spending from a buoyant US consumer in a soft landing economy." RBC downgrades New York Community Bancorp to sector perform from outperform RBC downgraded New York Community Bancorp after the regional bank's disappointing quarterly results on Wednesday. "Results had several negative surprises, including a higher-than-expected provision and reserve build, a meaningfully lower margin and outlook, and a dividend cut announcement." Wolfe initiates Stellantis as outperform Wolfe initiated the automaker with an outperform rating and said, "cash returns are likely to accelerate." "We're launching coverage of Stellantis with an Outperform rating. We see profitability as sustainable. Cash returns are likely to accelerate." Morgan Stanley reiterates Bloom Energy as overweight Morgan Stanley said the energy company is an "underappreciated AI winner." " BE is a secular winner as the world adopts GenAI given the significant incremental power demand associated with data center growth, coupled with grid infrastructure constraints and reliability concerns." Mizuho upgrades Boston Scientific to buy from neutral Mizuho said the med-tech company is a "durable" growth story. "We now see BSX as one of the more durable growth stories across the large-cap Medtech space, supported by structural market factors along with one of the more attractive portfolios of high-growth assets."

https://www.cnbc.com/2023/12/29/stocks-making-the-biggest-moves-premarket-lyft-fsr-unh-and-more.html

BSX

Boston Scientific

Stocks making the biggest moves premarket: Lyft, Fisker, UnitedHealth and more

Check out the companies making headlines before the bell. Fisker — Shares of the electric vehicle company popped 9.3% after Fisker said it grew deliveries by more than 300% between the third and fourth quarter, helped by strong demand for the company's Ocean SUV. Fisker said it intends to announce a plan in January to continue accelerating sales and deliveries. Lyft — The ride-share company fell 2.8% after Nomura cut its rating on the stock to reduce from neutral, saying Lyft's growth could be limited due to its shrinking market share and low profitability compared to peers. The firm increased its price target from $11.70 to $13, but that still represents downside. Nvidia — Nvidia shares ticked 0.3% higher after the chipmaker announced the launch of a slower gaming chip to be sold in China . The move comes as the company aims to comply with U.S. exports restrictions to China. Uber Technologies — Shares dipped 1.2% on Nomura's downgrade of the stock to neutral from buy. The firm increased its target price of the Lyft rival by $3 to $62, however. Boston Scientific — Shares of the medical device company rose 1.7% after Boston Scientific announced Thursday evening that it has launched a clinical trial using one of its devices in the treatment for persistent atrial fibrillation. The medical device system has already been used in trials on other types of atrial fibrillation, and Boston Scientific says it expects a first approval from the U.S. Food and Drug Administration in 2024. UnitedHealth — The health insurance stock rose 0.5% after UnitedHealth said it has agreed to sell its Brazil unit to a private investor in a deal that's expected to close in the first half of next year. The company also confirmed its prior adjusted earnings outlook for next year. — CNBC's Jesse Pound contributed reporting.

https://www.cnbc.com/2014/03/11/lightning-round-boston-scientific-sonic-more.html

BSX

Boston Scientific

Lightning Round: Boston Scientific, Sonic & More

Boston Scientific (BSX) : This is a favorite stock of mine, said Cramer. However, it made a big move last year and it may still need to digest the advance. SunPower (SPWR): It's not as speculative as some rivals, said Cramer. But in the space I prefer First Solar. Are you ready skeedaddy???!!! It's time for the Lightning Round. Cramer makes the call on viewer favorites. Ply Gem (PGEM): This stock just isn't my cup of tea, said Cramer. I just don't want to own it. NovaGold (NG) : I'm glad to see it coming back, said Cramer, but if you're long I wouldn't overstay the welcome. Occidental Petroleum (OXY) : I like it, said Cramer. I believe the plan for Occidental to split itself into two companies will unlock value. Bed Bath & Beyond (BBBY) : I think it could drop to $64 or $65, said Cramer. It's a good outfit but right now I think it's facing headwinds. Orexigen (OREX) : I think the stock is going to cool off, said Cramer. I wouldn't own it, here. Halozyme (HALO) : It has good pedigree but I think it's a little frothy, said Cramer. I think it could come in. Sonic (SONC): I think it's a buy, said Cramer. It has a big build out coming.

https://www.cnbc.com/2014/01/24/lightning-round-cemex-boston-scientific-more.html

BSX

Boston Scientific

Lightning Round: Cemex, Boston Scientific & More

Cemex (CX) : I like this stock very much as a play on global growth, said Cramer. It's based in Mexico and I have tremendous faith in Mexico. Intercontinental Exchange (ICE): It's a big dollar stock and it could fall over the next couple of days, said Cramer. But I think it's a long-term buy. Are you ready skeedaddy???!!! It's time for the Lightning Round. Cramer makes the call on viewer favorites. Boston Scientific (BSX): I think it's up a little too much, said Cramer. But if it falls a buck or two I think it's a great place to get in. Eastman Chemical (EMN): This is an excellent company, said Cramer. I'm currently looking for an entry point. With the sell-off at hand, it's probably time to pull the trigger soon. World Wrestling (WWE): The stock just advanced from $15 to $20 in the space of amonth, said Cramer. It's got clear momentum. Portfolio Recovery Associates (PRAA): I think pros are going to like this stock for a trade, said Cramer. But in the space I'd rather own H&R Block long-term. Airgas (ARG): Industrial companies are coming in right now, said Cramer. Don't be surprised if this stock comes in 3 or 4 points on no news whatsoever.

https://www.cnbc.com/2024/01/11/health-care-stocks-are-back-in-favor-and-these-3-names-could-lead-the-rally-according-to-the-charts.html

BSX

Boston Scientific

Health-care stocks are back in favor and these 3 names could lead the rally, according to the charts

I am a big fan of routines, as I've found that many poor investment decisions come from an undisciplined use of our time as investors. For me, a weekly scan for stocks making new three-month highs and lows has become a vital part of my own toolkit, as it helps me identify new leadership themes a little earlier on in the trend. I was surprised this week to note the large number of health-care names represented on the new highs list. And it wasn't just one group or theme within the sector, but rather a broader advance including biotech, medical supplies, medical equipment, and even pharmaceuticals. Here are three stocks in the health-care sector that could provide further upside potential based on their improving technical characteristics. 1. Boston Scientific (BSX) BSX is demonstrating a classic "big base breakout" pattern, having broken above price resistance around $55 in November 2023. This level was first reached in May 2023, after an 11-month rally from a June 2022 low around $35. But since first reaching that level in May of last year, the chart has been decidedly sideways, representing an equilibrium between buyers and sellers. That all changed in November, when BSX finally broke above this well-established resistance level, pushing into the upper $50s this month. Using the height of the basing pattern projects a minimum upside target around $52, but upside potential could be much greater given the strong momentum characteristics. 2. Stryker Corp. (SYK) Stryker is another stock in the medical equipment group and looks very much like BSX before the recent price breakout. Here we see the April 2023 high lines up well with highs in June, July, and September of this year. Just this week, we're seeing SYK threaten a new 52-week high, which would propel the stock above its previous resistance and confirm another big base breakout. The height of the recent basing pattern suggests an upside target around $372, which would mean another 22% above current levels. And as long as SYK can remain above the recent breakout level around $300-305, the chart will remain in a bullish configuration. 3. Amgen, Inc. (AMGN) While the broader biotechnology group was in a well-defined downtrend into the October 2022 market low, Amgen actually bottomed in June before finishing 2023 in a position of strength. Recent price action has pushed AMGN to a new swing high, completing a classic "cup and handle" pattern. From November 2022 to June 2023, AMGN dropped from around $295 to $215, shedding about 27% of its value in just seven months. But since June of last year, the stock has been in a fairly consistent uptrend of higher highs and higher lows, leading to a retest of the late 2022 high in October 2023. A cup and handle pattern has a broad bottoming pattern (the "cup") followed by a shallower pullback (the "handle") which leads the price back up to a major resistance level. Once AMGN was able to push above $295, that completed the pattern and confirmed a new bullish trend for the stock. With any breakouts like this one, it's important to watch the previous resistance level which often serves as price support going forward. As long as AMGN remains above $290, we see this as a strong chart getting stronger. -David Keller https://www.marketmisbehavior.com DISCLOSURES: (None) THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.

https://www.cnbc.com/id/100186408

BSX

Boston Scientific

Boston Scientific swings to 3rd-quarter loss

WASHINGTON -- Medical device maker Boston Scientific said Thursday it swung to a third-quarter loss, as legal fees and restructuring expenses weighed down already-sluggish sales of the company's implants. Shares of the Natick, Mass., company slipped in morning trading as investors reacted to its reduced sales and earnings guidance for the full year. The company posted a net loss of $725 million, or 52 cents per share, compared with a profit of $142 million, or 9 cents per share, in the third quarter of 2011. The company's most recent results were weighed down by an $809 million write-down of the company's defibrillator business. Acquired in 2006 from Guidant for $27 billion, the unit was plagued for years by recalls and regulatory citations. Excluding that and other one-time charges, the company would have earned 16 cents per share, up slightly from 15 cents per share in the prior-year quarter. Sales of heart stents and implantable defibrillators declined, leading to a 7 percent drop in total revenue to $1.74 billion. Still, adjusted results were better than the average estimate by Wall Street analysts, who predicted earnings of 11 cents per share, although revenue fell short of the $1.77 billion estimate, according to FactSet. Sales of the company's interventional cardiology division, which mainly consists of stents, fell 20 percent to $494 million in the period. Sales of cardiac rhythm management devices, including pacemakers and defibrillators, declined 8 percent to $462 million. Use of those devices has declined in recent years amid cost-cutting efforts by hospitals and medical studies suggesting the implants are overused. Defibrillators monitor the heart for dangerous irregular heartbeats and use electrical jolts to shock it back to a normal rhythm. Pacemakers use steady, low-energy electrical pulses to help patients maintain a steady heartbeat. Sales of smaller divisions like endoscopy rose in the mid-single digits. "Despite increased competition and ongoing market challenges in our cardiology businesses, we continue to deliver on our adjusted earnings and free cash flow and saw encouraging year-over-year performance in nearly all of our other businesses," CEO Hank Kucheman said in a statement. For the full year, Boston Scientific expects to post a loss of $2.86 to $2.89 per share, wider than the previous range of $2.09 to $2.16 per share. The adjusted profit is now seen at 63 cents to 66 cents per share, versus prior guidance of 62 to 68 cents per share. Revenue guidance was reduced to between $7.17 billion and $7.24 billion from $7.2 billion to $7.4 billion. Analysts predict revenue of $7.26 billion, on average. Shares of Boston Scientific Corp. fell 21 cents, or 3.7 percent, to $5.41 in morning trading.

https://www.cnbc.com/2024/01/08/stocks-making-the-biggest-moves-midday-nvidia-alaska-airlines-twilio-and-more.html

BSX

Boston Scientific

Stocks making the biggest moves midday: Nvidia, Alaska Airlines, Twilio and more

Check out the companies making headlines in midday trading. Boeing — Shares of the aerospace and defense giant lost 6.51% after a door panel on a Boeing 737 Max 9 blew out midair during an Alaska Airlines flight , leading the Federal Aviation Administration to ground dozens of the planes . Shares of Spirit AeroSystems , which made and installed the door, fell 5.50%. Alaska Air Group — The airline slid 0.11% following the Boeing incident and announcements that it had canceled dozens of flights after grounding its 737 Max 9 fleet. Axonics — Shares soared 20% after Boston Scientific agreed to acquire the biotechnology firm for $71 per share , or an equity value of around $3.7 billion. American Airlines — The airline jumped nearly 7.61% after Morgan Stanley upgraded the shares to overweight from equal weight. The Wall Street firm said it's excited about the upcoming investor day, which could be a catalyst for upside in the stock. Enphase Energy , First Solar — Enphase Energy gained 1.66% after getting an upgrade from Wells Fargo to overweight from equal weight. The bank said it expected a rebound in residential solar as interest rates fall. Wells Fargo, however, downgraded First Solar due to its strong 2023 performance and the relatively defensive nature of its cash flows. First Solar was fractionally lower. Shell — Shares of the oil and gas giant slipped 1.69% after the company said it expects a noncash post-tax write-down of between $2.5 billion and $4.5 billion in the fourth quarter of 2023. Dell — The personal computer maker added 4.64% on the heels of two bullish Wall Street calls. UBS named Dell a top pick among technology hardware names in 2024 on Sunday, noting its recovery and buybacks. JPMorgan upgraded Dell to overweight from neutral on Monday, citing leverage from an investment cycle driven by artificial intelligence. Equifax — The credit reporting agency gained nearly 3.94% after Bank of America double upgraded it to a buy rating from underperform. The bank cited a bullish mortgage outlook on the back of expected rate cuts as a reason for the change. Toll Brothers — Shares of the homebuilder rose more than 2.37% Monday after Wolfe Research upgraded Toll Brothers to outperform from peer perform. The investment firm said luxury homes may rebound now that mortgage rates have declined from their 2023 peak. Host Hotels & Resorts — The hotel real estate investment trust gained 2.82% following a double upgrade from Bank of America to buy from underperform. Analyst Shaun Kelly raised the bank's price target to $23 from $18, highlighting the stock's compelling valuation and steadily improving capital allocation. Chevron — Shares of the second-largest energy stock in the U.S. dropped 0.60% Monday despite an upgrade to buy from hold at Jefferies. "CVX lagged the majority of its peers in '23 due to increased uncertainty around production visibility (Permian, Tengiz), depth of inventory, and capital overruns," wrote analyst Lloyd Byrne, who believes Chevron could turn around in 2024. Nvidia — The chipmaker popped 6.43% to an all-time high as Nvidia announced three new graphics chips that can power PCs or laptops and are able to power AI at home . Twilio — The enterprise communication software stock jumped 6.68% after Jeff Lawson said he would step down as CEO . Twilio has faced pressure from two activist investors pushing for changes at the company in recent weeks. — CNBC's Michelle Fox, Alexander Harring, Yun Li, Jesse Pound and Samantha Subin contributed reporting.

https://www.cnbc.com/2024/01/08/jim-cramers-top-10-things-to-watch-in-the-stock-market-monday.html

BSX

Boston Scientific

Jim Cramer's top 10 things to watch in the stock market Monday

My top 10 things to watch Monday, Jan. 8 1. Stock futures were lower this morning after the major averages started 2024 with a losing week, snapping a nine-week winning streak. In my Sunday column , I discussed how that breathtaking run-up since the November lows and the Fed pivot is unsustainable, and what to consider ahead of earnings season right around the corner. 2. Boeing shares are down 8% after the Federal Aviation Administration grounded 171 Boeing Max 737 9 planes after a door-sized plug blew out midair during an Alaska Airlines flight Friday night. What will be the impact? Remember only two companies. Spirit Aero made and installed the part, but Boeing had role in completing process, according to a Reuters report . Did Boeing do the right thing when if offloaded Spirit in 2005? 3. I'm out in San Francisco for the JPMorgan Healthcare Conference, where I'll be speaking with lots of CEOs and execs. Deals are coming. Medical technology company Axonics , which provides treatments for overactive bladder and incontinence, is up 21% after agreeing to be bought by Boston Scientific for about $3.7 billion. Moderna sees return to sales growth in 2025, break even in 2026. 4. Investors are awaiting a decision from regulators on a spot bitcoin exchanged-traded fund. I think crypto could in for a major fall when approval is given. 5. Apple : How bad? Shares are trades like pre-announcement coming ... but ... it is still good on service revenue, according to Morgan Stanley. 6. First downgrade for the homebuilders: PulteGroup goes to hold from buy at Citi, citing valuation with upside from easing mortgage rates largely priced into the stock. 7. Club stock Wells Fargo downgraded to hold from buy at Baird. Analyst says curb your enthusiasm on U.S. banks following the group's significant outperformance since late last year. Capital One dropped to hold from buy, American Express to sell from hold. 8. Old fintech: KeyBanc raises price targets for both Visa and Mastercard . 9. Morgan Stanley restored Delta as a top sector pick. The analyst also upgraded American Airlines to buy from sell, says U.S. airlines enter 2024 "looking to settle several scores" after navigating through several "black swan events" recently. 10. Wells Fargo switching on solar, wants residential buys not utility, so drops First Solar to hold from buy. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at 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. CNBC Investing Club with Jim Cramer Rob Kim | NBCUniversal My top 10 things to watch Monday, Jan. 8 1. Stock futures were lower this morning after the major averages started 2024 with a losing week, snapping a nine-week winning streak. In my Sunday column, I discussed how that breathtaking run-up since the November lows and the Fed pivot is unsustainable, and what to consider ahead of earnings season right around the corner. 2. Boeing shares are down 8% after the Federal Aviation Administration grounded 171 Boeing Max 737 9 planes after a door-sized plug blew out midair during an Alaska Airlines flight Friday night. What will be the impact? Remember only two companies. Spirit Aero made and installed the part, but Boeing had role in completing process, according to a Reuters report. Did Boeing do the right thing when if offloaded Spirit in 2005? 3. I'm out in San Francisco for the JPMorgan Healthcare Conference, where I'll be speaking with lots of CEOs and execs. Deals are coming. Medical technology company Axonics , which provides treatments for overactive bladder and incontinence, is up 21% after agreeing to be bought by Boston Scientific for about $3.7 billion. Moderna sees return to sales growth in 2025, break even in 2026. 4. Investors are awaiting a decision from regulators on a spot bitcoin exchanged-traded fund. I think crypto could in for a major fall when approval is given. 5. Apple : How bad? Shares are trades like pre-announcement coming ... but ... it is still good on service revenue, according to Morgan Stanley. 6. First downgrade for the homebuilders: PulteGroup goes to hold from buy at Citi, citing valuation with upside from easing mortgage rates largely priced into the stock. 7. Club stock Wells Fargo downgraded to hold from buy at Baird. Analyst says curb your enthusiasm on U.S. banks following the group's significant outperformance since late last year. Capital One dropped to hold from buy, American Express to sell from hold. 8. Old fintech: KeyBanc raises price targets for both Visa and Mastercard . 9. Morgan Stanley restored Delta as a top sector pick. The analyst also upgraded American Airlines to buy from sell, says U.S. airlines enter 2024 "looking to settle several scores" after navigating through several "black swan events" recently. 10. Wells Fargo switching on solar, wants residential buys not utility, so drops First Solar to hold from buy. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer's Charitable Trust.)

https://www.cnbc.com/id/100147083

BSX

Boston Scientific

BRIEF-Boston Scientific to acquire Rhythmia Medical

Oct 8 (Reuters) - Boston Scientific Corp : * To acquire Rhythmia Medical Inc * Agreement calls for an upfront payment of $90 million payable upon transaction closing * Expects net impact of transaction on adjusted earnings per share to be immaterial for years 2013 and 2014 * Says to offer up to an additional $175 million in contingent payments * Says deal to be break-even to accretive after 2014 * Says once the mapping system is cleared by the U.S. Food and Drug Administration and receives CE Mark approval in Europe, Boston Scientific expects to begin a limited market launch of the system in 2013 and full market launch in 2014. * Source text * Further company coverage ((Bangalore Newsroom; +1 646 223 8780))

https://www.cnbc.com/id/38648365

BSX

Boston Scientific

Web Extra: Burned By Boston Scientific

______________________________________________________ Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send your e-mail to fastmoney@cnbc.com. Trader disclosure: On Aug 10, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova owns (AKAM), (BAX), (FCX), (MOS), (PFE), (SU), (XBI); Terranova owns (GLD) Calls; Seymour owns (AAPL), (BAC), (GOOG), (POT); Finerman owns (AAPL); Finerman's firm owns (ARM); Finerman & Finerman's firm owns (BAC); Finerman’s firm owns (BBY); Finerman's firm owns (LEA); Finerman’s firm owns (KFT); Finerman & Finerman's firm owns (JPM); Finerman & Finerman's firm owns (RIMM); Finerman’s firm owns (TSX); Finerman’s firm owns (GYMB); Finerman’s firm owns (PLCE); Finerman's firm owns (WMT); Finerman's firm owns (DAN); Finerman's firm is short (IJR); Finerman's firm is short (MDY); Finerman's firm is short (SPY); Finerman's firm is short (IWM); Finerman’s firm owns S&P 500 puts; Finerman’s firm owns Russell 2000 puts; Pete Najarian owns (CSCO) call spreads; Pete Najarian owns (CTRP) calls; Pete Najarian owns (GS) calls; Pete Najarian owns (RIMM) call spreads; Pete Najarian owns (AKAM) calls; Pete Najarian owns (HPQ) calls spreads; Pete Najarian owns (V) call spreads For Brian Kelly: Accounts managed by Kanundrum Capital own (GLD) Accounts managed by Kanundrum Capital own (TLT) Accounts managed by Kanundrum Capital own (PFE) Accounts managed by Kanundrum Capital own (C) Accounts managed by Kanundrum Capital own (GDXJ) Accounts managed by Kanundrum Capital own (MED) Accounts managed by Kanundrum Capital own (ANDE) Accounts managed by Kanundrum Capital own (ORI) Accounts managed by Kanundrum Capital own (INTC) Accounts managed by Kanundrum Capital own (ECA) Accounts managed by Kanundrum Capital own (UNG) Accounts managed by Kanundrum Capital own (SPY) Puts For Hugh Wynne: Wynne maintains a long position in Duke Energy Corp. (DUK) Accounts over which Bernstein and/or their affiliates exercise investment discretion own more than 1% of the outstanding common stock of the following companies EIX / Edison International. The following companies are or during the past twelve (12) months were clients of Bernstein, which provided non-investment banking-securities related services and received compensation for such services AEP / American Electric Power Co Inc, D / Dominion Resources Inc, DUK / Duke Energy Corp, EXC / Exelon Corp, FE / FirstEnergy Corp, PCG / PG&E Corp. An affiliate of Bernstein received compensation for non-investment banking-securities related services from the following companies AEP / American Electric Power Co Inc, DUK / Duke Energy Corp, EIX / Edison International, FE / FirstEnergy Corp, PCG / PG&E Corp. In the next three (3) months, Bernstein or an affiliate expects to receive or intends to seek compensation for investment banking services from AEP / American Electric Power Co Inc, D / Dominion Resources Inc, DUK / Duke Energy Corp, EIX / Edison International, EXC / Exelon Corp, FE / FirstEnergy Corp, NEE / NextEra Energy, PCG / PG&E Corp. Dennis Gartman ***No Disclosures*** Peter Boockvar ***No Disclosures*** Simon Leopold ***No Disclosures*** Joe LaVorgna ***No Disclosures*** Scott Natons ***No Disclosures***

https://www.cnbc.com/2019/06/24/bristol-myers-squibb-celgene-slide-after-announcing-delay-in-deal.html

BMY

Bristol Myers Squibb

Bristol-Myers Squibb, Celgene slide following news of delayed deal and psoriasis drug divestment

Shares of Bristol-Myers Squibb fell 7% Monday after the pharmaceutical giant announced that the proposed acquisition of Celgene will now close later than originally expected and will involve a divestiture of Celgene's psoriasis drug. In a Securities and Exchange Commission filing, the company said it now expects to close the planned $74 billion deal by the end of 2019 or beginning of 2020. It had originally expected to close the acquisition by the third quarter. Celgene's stock also dropped 5%. Bristol-Myers Squibb said that the divestiture of the drug Otezla would be used to help the company decrease financial leverage after the merger. Otezla generated about $1.6 billion in revenue last fiscal year for Celgene, according to a securities filing. Bristol-Myers Squibb announced the acquisition in January but has not yet received approval from the Federal Trade Commission. "Bristol-Myers Squibb is committed to working with regulatory authorities around the world on the proposed combination with Celgene. The company is focused on realizing the promise of the transaction, and is continuing to work to complete the transaction on a timely basis," the company said in a securities filing. Shareholders of both companies had previously approved the deal.

https://www.cnbc.com/2024/02/02/fourth-quarter-earnings-shaping-up-to-be-the-best-of-2023.html

BMY

Bristol Myers Squibb

Fourth-quarter earnings are shaping up to be the best of 2023, but there's a catch

Traders work on the floor at the New York Stock Exchange on Feb. 1, 2024. Here's how big of a surprise corporate profits have been this earnings season: The fourth quarter is now shaping up to be the best of 2023. Despite ongoing macroeconomic concerns that have hampered demand and weighed on consumer sentiment, almost halfway into earnings season, profits are clearly coming in far better than anybody expected. Helping companies' bottom lines this round: easing input costs, more emphasis on cost controls and efficiencies and significantly reduced expectations. A plethora of significant earnings beats among some very important S&P 500 companies such as Amazon , Meta , Apple , Chevron , ExxonMobil , Merck and Bristol Myers Squibb have moved the Q4 growth rate notably higher late this week. LSEG, formerly Refinitiv, is now seeing a nearly 8% rise in earnings growth this season. That's far better than the 4.7% expected just three weeks ago, right before the big banks reported results. Stronger-than-expected results from three sectors are particularly notable: Energy – 90% of the companies have beat earnings estimates, with profits coming in almost 14% above expectations. – 90% of the companies have beat earnings estimates, with profits coming in almost 14% above expectations. Health care – 85% have beat on the bottom line, with earnings coming in nearly 11% above expectations. – 85% have beat on the bottom line, with earnings coming in nearly 11% above expectations. Tech – 84% have posted earnings beats, with earnings more than 5% above expectations. As for the S&P 500 as a whole, Q4's current earnings per share growth rate of 7.8% exceeds the 7.5% growth seen in all of Q3 — and is now tops for the year.

https://www.cnbc.com/2024/02/02/stocks-making-biggest-midday-moves-meta-apple-intel-amazon-and-more.html

BMY

Bristol Myers Squibb

Stocks making the biggest moves midday: Meta, Apple, Intel, Amazon, Clorox and more

Check out the companies making headlines in midday trading. Meta Platforms — The Facebook and Instagram parent soared 20.3% after reporting a threefold rise in fourth-quarter profit and declaring its first dividend, to be paid in late March. Revenue jumped 25% from a year earlier, the fastest rate of growth for any period since mid-2021. Apple — The iPhone maker's shares inched down 0.5% after Apple provided financial guidance for the current quarter that hinted at weak iPhone sales. The company reported $2.18 in earnings per share in its fiscal first quarter ending in December, above the $2.10 expected by analysts according to LSEG, formerly known as Refinitiv, despite a sales decline in China. Amazon — Shares of the dominant e-commerce platform jumped more than 7% on the back of an earnings and revenue beat in the fourth quarter. Amazon posted $1 in earnings per share on $169.96 billion in revenue, according to LSEG. Analysts had forecast 80 cents in earnings per share on $166.21 billion in revenue. Skechers — The stock slumped 10.3% one day after the sneaker maker posted mixed fourth-quarter results and issued light guidance for the full year. Skechers forecast 2024 revenue in a range between $8.6 billion and $8.8 billion and earnings of $3.65 to $3.85 per share. Analysts polled by LSEG had estimated $8.9 billion in revenue and earnings of $4.18 per share this year. Bristol Myers Squibb — The pharmaceutical stock added 0.1% after fourth-quarter earnings and revenue at the maker of the Opdivo anti-cancer treatment beat analysts' estimates. Adjusted earnings per share came in at $1.70, topping the $1.53 expected from analysts polled by LSEG. Revenue reached $11.48 billion, versus the consensus estimate of $11.19 billion. Deckers Outdoor — Shares of the maker of the Ugg and Teva footwear brands surged 14.1% after the company's fiscal third-quarter results exceeded Wall Street estimates, and it announced a new CEO. In response, several Wall Street analysts raised their price targets on the stock. Deckers' earnings per share came in at $15.11, beating analysts' estimates by $3.63, according to LSEG, while revenue for the quarter totaled $1.56 billion versus estimates of $1.45 billion. Cigna — The health services company saw its shares rise more than 5% after reporting stronger-than-expected financial results for the fourth quarter and giving upbeat revenue guidance for the year. Cigna posted earnings of $6.79 per share on revenue of $51.15 billion, beating estimates of $6.54 per share on revenue of $48.91 billion, according to FactSet. Full-year revenue guidance was $235 billion compared to estimates of $228.65 billion. Mattel — Shares of the Barbie toymaker added 4.1% on news that activist investor Barington Capital has built an undisclosed stake in Mattel and is urging the sale of its American Girl and Fisher-Price units. Clorox — The bleach manufacturer jumped 5.6% Friday, one day after surpassing Wall Street expectations for its fiscal second quarter. Clorox earned $2.16 per share, excluding items, on $1.99 billion in revenue. Analysts polled by LSEG had expected $1.10 per share on $1.80 billion in revenue. Chevron — Shares jumped nearly 3% after the nation's second-largest oil company raised its dividend by 8%. Chevron posted mixed fourth-quarter results, with adjusted earnings per share of $3.45 topping the $3.21 expected by analysts polled by LSEG. ExxonMobil , the largest oil company in the U.S., rose 1% after its fourth-quarter earnings per share topped analysts' estimates. Revenue at both companies trailed Wall Street estimates. Intel — The chipmaker fell 1.7% after The Wall Street Journal reported that Intel is delaying construction of its $20 billion chip factory in Ohio due to market challenges. Microchip Technology — The semiconductor stock slid more than 1% after the company issued a weak outlook for its fiscal fourth quarter ending March 31. The company also posted revenue in line with analysts' expectations. — CNBC's Alex Harring, Yun Li, Tanaya Macheel, Michelle Fox and Tanaya Macheel contributed reporting.

https://www.cnbc.com/2023/12/28/investors-see-a-biotech-comeback-in-2024-as-rates-fall-dealmaking-picks-up-stocks-to-watch-.html

BMY

Bristol Myers Squibb

Investors see a biotech comeback in 2024 as rates fall, deal-making picks up. Stocks to watch

Many biotech stocks struggled in 2023 despite a robust year for U.S. drug approvals. As these new therapies begin treating patients, some investors see better times ahead next year. "We've seen a lot of innovation," Dan Lyons, portfolio manager on the health-care team at Janus Henderson, said, explaining that he is bullish on 2024 because it will be a period when new markets are being created. "That can be a great opportunity, assuming you invest behind the companies that have the right alignment of physicians, patients and payers to build a large market with an innovative new drug," he said. This year began with a Food and Drug Administration approval for Leqembi, an Alzheimer's disease treatment, and was capped off in December by approvals that included two separate gene therapies for sickle cell disease — a first in the field. Among the other innovations were treatments for cancer, some rare conditions and another entry into a new class of anti-obesity medications, which have grabbed headlines all year. "Unless you had an obesity program tucked away in your pipeline, chances are 2023 was a tough year with rising interest rates and intense competition," Canaccord Genuity analyst John Newman said in a research note. "We expect this environment to continue but look forward to the prospect of lower interest rates in 2024." The Federal Reserve has penciled in three rate cuts for next year. When that happens, Canaccord Genuity said to expect a "strong rally across the biotech sector rewarding innovative, but riskier assets." Until then, investors will be more focused on proven clinical and commercial success stories, it said. M & A is picking up Still, deal-making is already starting to fuel excitement. Janus' Lyons said he has been encouraged by the pickup in acquisitions in the sector, which he expects will aid its recovery. "I think that's going to continue or accelerate into next year, just as large-cap pharmaceutical companies have a real hole in their pipelines that they need to fill," he said. In recent days, Bristol Myers Squibb went on a year-end shopping spree , snapping up RayzeBio, a developer of radiopharmaceutical drugs for cancer treatment, for $4.1 billion on Tuesday and Karuna Therapeutics , a neuroscience drug developer, for $14 billion on Friday. AstraZeneca also said it would acquire Chinese biotech Gracell Biotechnologies , which focuses on CART-T cancer treatments, and Eli Lilly completed a tender offer for Point Biopharma , another cancer drugmaker. RYZB 5D mountain RayzeBio shares doubled Tuesday word of its deal with Bristol Myers Squibb. Lyons highlighted AbbVie's recent plans to buy Cerevel Therapeutics and ImmunoGen . AbbVie's pair of deals also look to strengthen its neuroscience and oncology pipelines. Janus was a large investor in ImmunoGen with a more than 6% stake, according to filings with the Securities and Exchange Commission. AbbVie paid a 95% premium to ImmunoGen's closing share price ahead of the deal's announcement. Analysts have said the rich price reflects the opportunity for ImmunoGen's Elahere cancer treatment , which has quickly established itself as the standard of care for types of ovarian cancer. Evercore ISI analyst Jonathan Miller said the year-end rush of deals is "a very healthy sign" for two important therapeutic areas: radiopharma and cell therapy. According to Miller, the late-stage assets like RayzeBio are fetching a premium. "Perhaps no surprise that these are most attractive to large pharma, but worth noting that earlier-stage players (who might boast differentiated targets, isotopes, or other bells and whistles) have been so far passed over in favor of programs that have a) meaningful clinical data sets, against b) well-validated targets," Miller wrote in a research note. A case for a technical move While all those trends bode well for the group, technical factors are also in its favor, according to BTIG's chief market technician, Jonathan Krinsky. At the start of the week, he called out that the SPDR S & P Biotech ETF (XBI) was up more than 30% from its recent lows, but was still down more than 50% from its all-time high set nearly three years ago. He predicted that if the exchange-traded fund cleared a share price of $90, which it did on Wednesday, it would suggest that a new uptrend has started. XBI 5Y mountain Spdr S & P Biotech ETF over the past five years. Historical patterns are also favorable, Krinsky said. "Depending on the last week of the year, the Nasdaq Biotech Index could be down for third straight year," he wrote in a research note. "In its history (back to '93), it has been down two straight years twice ('96-'97 and '01 to '02). '96 and '97 were both down less than 0.50%, so essentially flat. In other words, the recent stretch is unprecedented and bodes well for at least an attempt at a decent year in '24." With a gain of more than 2% so far this week, the biotech index is now up 4.6% for 2023. BTIG's buy-rated names in biotech include Ambrx Biopharma , Apogee Therapeutics , Biohaven and Exelixis . 'Oversold and cheap' In a research note Friday, Jefferies analyst Michael Yee said "a significant short squeeze" was helping biotech stocks in the fourth quarter. "Investors might have moved on from a 'short everything' mentality to 'things are probably too oversold and cheap' for 2024, especially if events play out OK," Yee said. He favors Amgen due to its low valuation and potential upside if its experimental obesity drug shows positive data. Amgen shares have gained 9% in 2023. Yee expects anti-obesity medications, or incretins, to remain a "hot topic" due to the "huge" size of the market. Many on Wall Street predict sales of these drugs will rise to more than $100 billion annually by the end of the decade. "In 2024, focus will shift to reimbursement and access, and if GLP1s can treat other indications like NASH (key fibrosis data by early 2024), sleep apnea, and others," he said. NASH, or nonalcoholic steatohepatitis, is a buildup of fat in the liver, which can lead to cirrhosis, liver failure and even the need for a transplant. Early data for some anti-obesity medications suggested that these drugs may be able to reduce the amount of fat in the liver. While this could be a positive for patients, it has hurt the value of some companies that specialize in liver disease. Among the stocks affected by this was Madrigal Pharmaceuticals . Its stock is down nearly 19% year to date, but the shares hit a 52-week low of $119.76 in late October. The stock closed Wednesday at $236.75. "It was an example of what we believe was an overreaction in many of these stocks that we've seen rebound over the last few months," Lyons of Janus said. MDGL 6M mountain Madrigal shares over the past six months. Still a clinical-stage company, Madrigal is expected to receive approval for resmetirom in mid-March . If all goes as planned, it will be the first treatment targeting NASH to make it to the market. "We believe that this will open up a large new market because the physicians are really anxious to be able to offer something to their patients that is liver-targeted that addresses NASH," Lyons said. Vertex Pharmaceuticals is another stock that has appeared on multiple lists of biotech stock picks. The company is developing a nonopioid painkiller, and many analysts see a vast market for the drug if it is successful. VRTX YTD mountain Vertex shares year to date "Many people live in pain because they don't have good options to manage their pain. So we're really excited about alternative options," Lyons said. Earlier this month, Leerink Partners boosted its price target for outperform-rated Vertex to $485, which is nearly 19% higher than Wednesday's close. Analyst David Risinger said he expects the pain program could drive peak sales of more than $10 billion. "Although there are outstanding questions about the Ph2 results due to data disclosure and renal safety figures, … we see the totality of results as highly encouraging," he said. — CNBC's Michael Bloom contributed to this report.

https://www.cnbc.com/2023/12/28/medicare-drug-price-negotiations-whats-ahead-in-2024.html

BMY

Bristol Myers Squibb

Biden administration's Medicare drug price negotiations will face major tests in 2024

Activists protest the price of prescription drug costs in front of the U.S. Department of Health and Human Services building in Washington, D.C., on Oct. 6, 2022. Anna Moneymaker | Getty Images Why 2024 will set a precedent for price talks The outcomes of the talks will have huge stakes for the pharmaceutical industry, which views the process as a threat to its revenue growth, profits and drug innovation. The final prices will determine how much revenue the companies that make the drugs can expect to lose in a few years. The figures will also give other drugmakers an idea of how much their sales could be affected if their medications are selected for future rounds of negotiations. But the final agreed-upon prices are also significant for patients, who will get a first look at how much money the talks will save them at a time when many older people increasingly struggle to afford medications. "We're going to see how much that program is able to negotiate and it'll give patients who are already on [the drugs] an idea of the savings they're going to see," said Leigh Purvis, a prescription drug policy principal at the AARP Public Policy Institute. AARP is the influential lobby group that represents people older than 50. The organization has advocated for Medicare's new negotiation powers. George Frey | Reuters The drugs subject to the negotiations are among the top 50 with the highest spending for Medicare Part D, which covers prescription medications that seniors fill at retail pharmacies. In 2022, 9 million seniors spent $3.4 billion out of pocket on the 10 drugs, and some paid more than $6,000 per year for just one of the medications on the list, according to the Biden administration. Nearly 10% of Medicare enrollees ages 65 and older, and 20% of those under 65, report challenges in affording drugs, the administration said in August. Medicare covers roughly 66 million people in the U.S., and 50.5 million patients are currently enrolled in Part D plans, according to health policy research organization KFF. What the negotiation timeline looks like The Biden administration officially kicked off the negotiation process in August when it named the first round of medications subject to the price talks. They include diabetes drugs from Merck and AstraZeneca, and blood thinners from Bristol Myers Squibb and Johnson & Johnson. Two months later, all companies that make the drugs on the list signed agreements to participate in the negotiations, even after most of them sued the Biden administration to halt the talks. But the actual negotiation period will begin on Feb. 1, when the Centers for Medicare & Medicaid Services will make initial "maximum fair price" offers for each of the 10 drugs selected. CMS is required to include a justification for why the price is fair based on several factors. That includes U.S. sales volume data, a manufacturer's research and development costs, federal financial support for the drug's development, data on pending or approved patent applications and exclusivities, or a period of time when a brand-name drug is protected from generic competition. First 10 drugs subject to price negotiations Eliquis, made by Bristol Myers Squibb, is used to prevent blood clotting, to reduce the risk of stroke. Jardiance, made by Boehringer Ingelheim, is used to lower blood sugar for people with Type 2 diabetes. Xarelto, made by Johnson & Johnson, is used to prevent blood clotting, to reduce the risk of stroke. Januvia, made by Merck, is used to lower blood sugar for people with Type 2 diabetes. Farxiga, made by AstraZeneca, is used to treat Type 2 diabetes. Entresto, made by Novartis, is used to treat certain types of heart failure. Enbrel, made by Amgen, is used to treat rheumatoid arthritis. Imbruvica, made by AbbVie, is used to treat different types of blood cancers. Stelara, made by Janssen, is used to treat Crohn's disease. Fiasp and NovoLog, insulins made by Novo Nordisk. After receiving the offers, companies have a month to accept it or counter it. Negotiations end when CMS and drugmakers reach an agreement. If CMS rejects the counteroffer for a drug, the agency can arrange up to three meetings with the drugmaker to discuss other price options. CMS has to make final price offers to the manufacturers by July 15, and those companies have two weeks to accept or reject them. If drugmakers fail to agree on a price with Medicare by Aug. 1, they may be forced to pay an excise tax of up to 95% of a medication's U.S. sales or pull all of their drug products from the Medicare and Medicaid markets. CMS will publish agreed-upon prices on Sept. 1. After the initial round of talks, CMS can negotiate prices for another 15 drugs that will go into effect in 2027 and an additional 15 that will go into effect in 2028. The number rises to 20 negotiated medications a year starting in 2029. CMS will only select Medicare Part D drugs for the medicines covered by the first two years of negotiations. It will add more specialized drugs covered by Medicare Part B, which are typically administered by doctors, in 2028. How drugmaker lawsuits could develop The legal fight between drugmakers and the Biden administration could also see crucial developments in 2024, as cases may start moving to appeals courts. Merck, Johnson & Johnson, Bristol Myers Squibb, AstraZeneca , Novo Nordisk , Novartis and Boehringer Ingelheim are all suing to halt the negotiation process. Each of the companies has one drug selected for negotiations. The industry's biggest lobbying group, PhRMA, and the nation's largest business lobbying organization, the U.S. Chamber of Commerce, have filed their own lawsuits. A federal judge in September denied a preliminary injunction sought by the Chamber of Commerce, which aimed to block the price talks. All of the drugmakers and both trade groups have asked for summary judgments in their cases against the Biden administration, arguing the price talks are unconstitutional and must be struck down.

https://www.cnbc.com/2021/04/30/morgan-stanley-downgrades-bristol-myers-squibb-on-drug-pipeline-concern.html

BMY

Bristol Myers Squibb

Morgan Stanley downgrades Bristol-Myers Squibb on drug pipeline concern

Uncertainty around drug developments could hold back the price of Bristol-Myers Squibb stock, according to Morgan Stanley. Analyst David Risinger downgraded the stock to equal weight from overweight on Friday, saying the long-term picture for the company's earnings power was getting less positive. "Management is delivering solid financial results, but we have less conviction that pipeline news flow will drive shares higher and we lowered LT EPS growth from 8% to 6%," the Morgan Stanley note said. The downgrade comes a day after Bristol-Myers Squibb reported weaker-than-expected earnings and revenue for the first quarter. Shares fell 4.8% after the report. Morgan Stanley cut its price target on the stock to $62 per share from $70, slightly below where the stock closed on Thursday. Based on the current pipeline, the company could see a significant earnings hit by the end of the decade, Risinger said. "We estimate that 76% of BMY's 2025e revenue will be subject to potential biosimilar and generic erosion risk by 2030. ... We look forward to Bristol's next comprehensive pipeline update in fall 2021 —management mentioned on the 1Q call that it plans to host an in-depth session to provide an update on pipeline progress and how it supports long-term potential of the company," the note said. -CNBC's Michael Bloom contributed to this story. The New York Stock Exchange welcomes Bristol Myers Squibb on Nov. 20th, 2020. NYSE

https://www.cnbc.com/2023/12/26/stocks-making-the-biggest-moves-midday-intc-nio-fdx-manu-and-more-.html

BMY

Bristol Myers Squibb

Stocks making the biggest moves midday: Intel, Nio, FedEx, Manchester United and more

Check out the companies making headlines in midday trading. Intel — The semiconductor stock added 5.2% after Israel's government announced a $3.2 billion grant. The grant will be for Intel to build a $25 billion chip plant in southern Israel, which will mark the company's largest investment ever in the Middle Eastern country. Other names in the sector also rose on Tuesday, with the VanEck Semiconductor ETF (SMH) up more than 1%. Gracell Biotechnologies — Shares soared about 60% after AstraZeneca announced it will buy the Chinese cell therapy company for as much as $1.2 billion. Meanwhile, AstraZeneca traded near flat. RayzeBio — Shares skyrocketed more than 100% following news that the radiopharmaceutical company would be bought by Bristol Myers Squibb . On the other hand, Bristol Myers shares slipped 1.6%. Manchester United — Shares of the English soccer club climbed more than 3.4% after British billionaire Jim Ratcliffe finalized a deal to buy a quarter of the club , ending a year of uncertainty over its ownership. Ratcliffe will pay $33 per share. Shares closed at $19.84 on Friday. Nio — The Chinese electric vehicle maker jumped about 10.8% on the back of its flagship sedan announcement during Nio's annual customer event over the weekend. Other electric vehicle stocks rose in the session, with Rivian and Tesla each adding more than 1%. FedEx — Shares rose 1.6% after the parcel delivery service initiated an accelerated share repurchase agreement with Mizuho. Through the deal, the company will buy back $1 billion worth of its stock. — CNBC's Yun Li contributed reporting.

https://www.cnbc.com/2022/08/29/stocks-making-biggest-midday-moves-netflix-bristol-myers-and-more.html

BMY

Bristol Myers Squibb

Stocks making the biggest moves midday: Netflix, Pinduoduo, Catalent, Bristol-Myers and more

The Netflix logo is seen on a TV remote controller in this illustration taken Jan. 20, 2022. Check out the companies making headlines in midday trading. Catalent Inc. – Shares of pharmaceutical company Catalent fell 7.4% after earnings that disappointed Wall Street. While Catalent beat expectations for earnings, its revenue and full-year outlook were below estimates. Dow - The chemical maker dropped 1.6% after KeyBanc downgraded it to underweight from sector weight. The bank said in a note that an economic slowdown, especially in Europe, could hurt demand for Dow and squeeze the company's profit margins. Honda Motor — Shares of Honda moved 1.8% higher after it joined forces with LG Energy Solution to build a new battery production plant for electric vehicles in the U.S. The companies, which plan to invest $4.4 billion, aim to begin mass production of advanced lithium-ion battery cells by the end of 2025. Pinduoduo — Pinduoduo surged 14.7% after topping estimates in the recent quarter on the top and bottom lines. The China-based e-commerce giant said a recovery in consumer sentiment helped results. Netflix — Shares of the streaming giant rose 0.6% after a Bloomberg report that its ad tier could cost between $7 and $9 a month. Bristol-Myers Squibb — Shares of Bristol-Myers Squibb slumped 6.2% after the company reported results from a midstage trial of its developing stroke treatment that failed to meet the main objective of the study. Energy stocks — Energy stocks jumped in tandem with oil prices rose on news of a potential OPEC+ supply cut. Shares of Diamondback Energy , Marathon Oil , Occidental and Exxon Mobil rose from 2.3% to 4.0%. Etsy — Etsy added 0.3% following news that it will require U.S. sellers on its platform to verify their bank accounts or provide their username and password to fintech platform Plaid. — CNBC's Jesse Pound, Michelle Fox and Carmen Reinicke contributed reporting.

https://www.cnbc.com/2020/11/20/cramer-lightning-round-bristol-myers-squibb-is-incredibly-cheap.html

BMY

Bristol Myers Squibb

Cramer's lightning round: Bristol-Myers Squibb is 'incredibly cheap'

Norwegian Cruise : "If you play the long game, the way [CEO] Frank Del Rio does, you could catch a double in a couple of years." Bristol-Myers Squibb : "I think that Bristol Myers is incredibly cheap. ... I say buy, buy, buy." NCino: "Cloud banking — they own it." Raytheon Technologies : "Raytheon is good."

https://www.cnbc.com/2019/10/31/stocks-making-the-biggest-moves-premarket-altria-bristol-myers-squibb-generac-apple-and-more.html

BMY

Bristol Myers Squibb

Stocks making the biggest moves premarket: Altria, Bristol-Myers Squibb, Generac, Apple and more

Check out the companies making headlines before the bell: Altria (MO) – The tobacco producer beat estimates by 4 cents with adjusted quarterly profit of $1.19 per share, 4 cents above estimates, with revenue also beating forecasts. Altria also took a $4.5 billion writedown on its investment in e-cigarette maker Juul, on the possibility of further FDA actions as well as bans on e-cigarette products by various states and cities. Bristol-Myers Squibb (BMY) – The drugmaker came in 10 cents above estimates with adjusted quarterly earnings of $1.17 per share, with revenue above estimates as well. However, Bristol-Myers also cut its full-year guidance. Generac (GNRC) – The maker of home and commercial generators reported adjusted quarterly profit of $1.43 per share, 10 cents above estimates, with revenue also beating Wall Street forecasts. Generac said rolling power blackouts in California are among the key factors boosting demand for its generators. Estee Lauder (EL) – The cosmetics company reported adjusted quarterly earnings of $1.67 per share, 7 cents above estimates, with revenue also beating forecasts on strong results from the company's skin care unit. However, it lowered its full-year outlook on anticipated softness in brick-and-mortar retail. Estee Lauder also raised its quarterly dividend by 12 percent to 48 cents per share. Cigna (CI) – The insurance company beat estimates by 18 cents with adjusted quarterly profit of $4.54 per share, while revenue also came in above Wall Street forecasts. Cigna said it saw strength across all its business lines during the quarter. Marathon Petroleum (MPC) – Marathon announced its intention to spin off its Speedway gasoline station chain into a separate, publicly traded company. Activist investor Elliott Management had been calling for a Speedway spin-off, among other moves to enhance shareholder value. Clorox (CLX) – The household products maker beat estimates by 5 cents with quarterly earnings of $1.59 per share, though revenue was slightly below forecasts. Clorox said it is still working through challenges in its bags and wraps efforts and its charcoal business, but it is growing volume and margins in three of its four business segments. Dunkin' Brands (DNKN) – The restaurant chain operator earned an adjusted 90 cents per share for its latest quarter, 9 cents above estimates, although revenue was below forecasts. U.S. sales were helped by strong demand for Dunkin's premium beverages like espresso and cold brew. Dunkin' also raised its full year earnings forecast. Apple (AAPL) - Apple reported quarterly profit of $3.03 per share, beating the consensus estimate of $2.84. Revenue also beat forecasts, as expanding iPad and AirPod demand and growth in services helped offset a drop in iPhone sales. Starbucks (SBUX) – Starbucks matched Wall Street estimates with adjusted quarterly profit of 70 cents per share, with the coffee chains revenue above analyst forecasts. Global comparable store sales grew a better than expected 5 percent, helped by a jump in cold drink sales. Facebook (FB) – Facebook earned $2.12 per share for its latest quarter, compared to a consensus estimate of $1.91, with revenue also above Wall Street forecasts. Facebook's average revenue per user came in at $7.26 during the quarter, higher than analysts had estimated. Twitter (TWTR) - Twitter will ban all political ads globally starting Nov. 22, amid growing concerns about the spread of false and misleading information. Lyft (LYFT) - Lyft lost $1.57 per share for its latest quarter, smaller than the $1.66 that analysts were anticipating. The ride-hailing service's revenue exceeded expectations, and Lyft said it anticipated reaching profitability in about two years. Fiat Chrysler (FCAU) – Fiat Chrysler and Peugeot's parent, Groupe PSA, announced their intention to work toward a binding merger agreement. The automakers' tentative proposal which see each company's shareholders own 50 percent of the newly combined entity. Ford Motor (F) – Ford and the United Auto Workers union reached a tentative labor deal, just days after GM workers ratified a labor agreement that ended a 40-day walkout. Etsy (ETSY) – Etsy matched Street forecasts with quarterly profit of 12 cents per share, while the online crafts marketplace saw revenue exceed Wall Street forecasts. Gross merchandise sales were up by more than 30 percent, but the company also saw gross margins decline by more than 3 percentage points.

https://www.cnbc.com/2023/12/08/why-broadcom-is-still-a-solid-ai-play-following-a-murky-quarter.html

AVGO

Broadcom Inc.

Why Broadcom is still a solid AI play following a murky quarter

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. ET. Here's a recap of Friday's key moments. 1. U.S. stocks edged up in midmorning trading Friday after a muted start to the day, with the S & P 500 up 0.23% and the Nasdaq Composite up 0.3%. At the same time, bond yields climbed on the back of faster-than-expected jobs growth in November. Nonfarm payrolls rose by a seasonally adjusted 199,000 last month, slightly ahead of the 190,000 Dow Jones estimate, the Labor Department said Friday. The yield on the 10-year Treasury rose to above 4.2%. Meanwhile, oil prices jumped nearly 3% Friday morning, with West Texas Intermediate crude trading around $71 a barrel. 2. Club holding Honeywell said Friday that it had reached a deal to acquire Carrier 's security business for $4.95 billion in cash . The planned acquisition will fit in Honeywell's building technologies business, strengthening the company's alignment to the megatrend of automation. The deal price represents about 13 times 2023 earnings before interest, taxes, depreciation and amortization (EBITDA), inclusive of tax benefits and run-rate cost synergies. The acquisition should be accretive to Honeywell's growth, gross margins and operator margin. Honeywell has said its committed to deploying at least $25 billion over the next three years towards mergers and acquisitions, as well as dividends, capital expenditures and share buybacks. 3. Club holding Broadcom delivered mixed quarterly results after the closing bell Thursday, coming up short on revenue even as earnings-per-share of $11.06 came in better than Wall Street expected. The company also made clear that its integration of recently acquired cloud-computing firm VMware is off to a great start, with management forecasting a double-digit growth rate for the business over the next several years. More broadly, Broadcom continues to be a solid artificial-intelligence play, as it sees strong demand from hyperscalers deploying ethernet into their AI networks. (Jim Cramer's Charitable Trust is long HON, AVGO. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

https://www.cnbc.com/2023/08/29/ai-in-focus-heres-what-to-look-for-when-salesforce-broadcom-report.html

AVGO

Broadcom Inc.

AI in focus: Here's what to look for when Salesforce and Broadcom report earnings

When two Club tech firms – enterprise software giant Salesforce (CRM) and chipmaker Broadcom (AVGO) – report quarterly results this week, Wall Street will be looking to see if their respective bets on artificial intelligence are starting to pay off. Adoption of recently launched generative AI tools is part of the long-term investment story at Salesforce, which reports fiscal year 2024 second-quarter results after Wednesday's close. Investors will be looking to see if the software company can sustain double-digit-percentage revenue growth, while also further boosting profitability. And when Broadcom releases its fiscal third-quarter earnings after the closing bell on Thursday, investors will be eyeing whether the semiconductor firm's growing stream of AI-linked revenues are progressing at a pace to offset weakness in areas such as enterprise data centers and wireless. The earnings from Salesforce and Broadcom follow a rough patch for technology stocks that began in mid-July. From that point through the first half of August, the S & P 500 information technology sector dropped about 9% before rebounding slightly over the past two weeks. Broadcom entered Tuesday's session down about 6.4% from its three-month closing high of $920 per share, on Aug. 1. Salesforce, on the other hand, is off 9.7% from its three-month closing high of $234.37, on July 19. Both stocks remain up more than 50% year-to-date. .SPX AVGO,CRM 3M mountain The S & P 500's performance versus Broadcom and Salesforce over the past three months. Salesforce For the three months ended July 31, Wall Street expects Salesforce's revenue to jump more than 10% year-over-year, to $8.53 billion, according to Refinitiv. Earnings-per-share (EPS) should come in at $1.90 for the quarter, compared with $1.19 a share a year prior. The deterioration in enterprise-software demand that began last year has appeared to stabilize, analysts say — albeit at lower levels than 18 to 24 months ago. But investors are still grappling with the top-line implications for Salesforce, according to Scott Berg, an analyst at Needham & Co. "The question I get most often from [investors] is: 'Is this actually a 10% revenue growth story going forward, even once the macro [economic situation] recovers, or is this really maybe an 8% to 10% growth story?" Berg said in an interview with CNBC. "You view valuation very differently between those two realms," he added. Over the next few quarters, the price hikes Salesforce implemented earlier this month could begin to show up in the company's contract pipeline. In a note to clients last week, Wells Fargo suggested the price increases could add between 1% and 2% to Salesforce's sales growth rate, helping it stay above that closely watched 10% level in the near term. Salesforce's continued rollout of generative AI tools, which are becoming available to customers in phases , may take longer to meaningfully alter its revenue trajectory. Analysts widely expect any impact to show up starting in the company's fiscal year 2025, which begins in February. At the same time, a debate over Salesforce's profitability hinges on whether its margin expansion this year — amid an unprecedented activist-investor push — has any further room to run. Salesforce's adjusted operating margin is expected to be 28.4% in its second quarter, according to FactSet, compared with roughly 20% during the same period last year. While some investors are skeptical Salesforce can continue to expand its margins given its history of overspending, Needham's Berg argued that if the company is able to demonstrate it remains serious about cutting costs there could be a pool of investors willing to buy up the stock. Still, analysts say, a bigger inflection point for the stock will likely come next month, when Salesforce hosts its annual customer conference, known as Dreamforce , which is set to focus heavily on AI. Broadcom For the three months ended July 31, Wall Street expects revenue at Broadcom to increase nearly 5% year-over-year, to $8.86 billion, according to Refinitiv. Analysts predict EPS to rise by 7% on an annual basis, to $10.42 a share. Broadcom's earnings release will put under the microscope the primary reason we added the company to the Club-stock ranks last week: its growing stream of generative AI-related revenues. In the company's current fiscal year, AI-related revenues are expected to account for about 15% of the company's semiconductor sales, and possibly grow to more than 25% in fiscal 2024, CEO Hock Tan said in June. Total semiconductor revenue is on pace to be about 80% of Broadcom's overall revenue in fiscal 2023, which ends in October. Infrastructure software accounts for the remainder. Broadcom's AI exposure currently falls into two primary buckets. The first is the firm's work developing custom chips for hyperscalers, or tensor processing units, for Club holding Alphabet (GOOGL). The Google parent has been using TPUs for machine-learning work since 2016 , and has more recently stepped-up its efforts around its Bard chatbot and other AI initiatives. Google's efforts are good news for Broadcom, KeyBanc analyst John Vinh told CNBC. "Obviously, what Google is doing with Bard...the expectation is [Broadcom is] going to see a pretty meaningful uplift there," Vinh said in an interview, Broadcom's other primary source of AI sales comes from its networking solutions. At a high level, these products efficiently stitch together multiple servers inside a data center, in order to meet the extensive performance requirements for AI workloads. Its two chips in this area are known as Tomahawk 5 and Jericho 3-AI. While Broadcom's AI networking business is no doubt fast-growing, Vinh noted there are headwinds within other pockets of its wide-ranging semiconductor business, such as traditional enterprise networking and broadband. Still, Broadcom should at least deliver fiscal third-quarter results that meet Wall Street's expectations, according to UBS. In a note to investors this week, the firm argued that Broadcom's fiscal fourth-quarter guidance could be stronger than anticipated, "as the feeding frenzy from cloud customers helps to offset ongoing weakness in enterprise." (Jim Cramer's Charitable Trust is long CRM, AVGO, GOOGL. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. A sign on the campus offices of chipmaker Broadcom is shown in Irvine, California. Mike Blake | Reuters

https://www.cnbc.com/2023/09/21/stocks-making-the-biggest-moves-midday-splk-foxa-avgo-csco.html

AVGO

Broadcom Inc.

Stocks making the biggest moves midday: Splunk, Cisco, Broadcom, Fox and more

A sign is posted in front of a Broadcom office in San Jose, California, on June 3, 2021. Check out the companies making headlines in midday trading. Cisco Systems , Splunk — Shares of Cisco fell 3.9% Thursday after the company said it is acquiring cybersecurity software company Splunk for $157 per share in a cash deal worth about $28 billion. Splunk's stock price popped 19.1% on news of the deal. KB Home — The homebuilder stock slid 4.3% after saying it expected its gross housing margin to shrink in the current quarter. KB Home posted its fiscal third-quarter report Wednesday evening, reporting earnings of $1.80 per share on revenue of $1.59 billion. Analysts polled by LSEG, formerly known as Refinitiv, called for earnings of $1.43 per share and revenue of $1.48 billion. Fox Corporation , News Corp — Shares of Fox Corporation and News Corp gained 3.2% and 1.3%, respectively, on news Thursday that Rupert Murdoch is stepping down as chairman of both companies. Broadcom — Shares of Broadcom moved lower by almost 2.7%. The action follows a report by The Information that Google is holding internal discussions about dropping the artificial intelligence chip supplier in favor of its own internally developed chips as soon as 2027. A Google spokesperson later told CNBC that the company is "productively engaged" with Broadcom and other suppliers for the "long term." "Our work to meet our internal and external Cloud needs benefit from our collaboration with Broadcom; they have been an excellent partner and we see no change in our engagement," the spokesperson said Eli Lilly — Shares were down 3.4% after the company earlier this week sued several clinics and pharmacies across the U.S. for allegedly selling cheaper, unauthorized versions of the company's diabetes drug Mounjaro. Klaviyo — The marketing automation company stock closed Thursday roughly 2.9% higher. Shares of Klaviyo opened Wednesday at $36.75 on the New York Stock Exchange, which was greater than the company's offering price of $30 per share. PulteGroup , Zillow Group , D.R. Horton — Shares of companies in the housing industry fell Thursday after data showed U.S. existing home sales fell in August as tight supply raised prices. PulteGroup was down 3.3%, while both D.R. Horton and Zillow lost 3.7%. FedEx — Shares gained 4.4% a day after the company reported mixed fiscal first-quarter earnings. FedEx reported adjusted earnings of $4.55 per share, greater than the $3.73 forecast by analysts polled by LSEG. Its revenue of $21.68 billion came in below expectations of $21.81 billion. Paramount , Netflix , Disney — Shares of streaming companies moved higher as writers and producers neared a potential end to the Writers Guild of America strike, people close to the negotiations told CNBC's David Faber on Wednesday. Paramount was about 0.5% higher, while Netflix lost 0.6% and Disney added 0.2%, taking back earlier gains. — CNBC's Alex Harring, Tanaya Macheel and Samantha Subin contributed reporting.

https://www.cnbc.com/2023/09/01/broadcom-slips-after-4q-guidance-why-pros-say-its-a-good-time-to-buy.html

AVGO

Broadcom Inc.

Broadcom slips after issuing fiscal fourth-quarter revenue guidance. Why pros say it's a good time to buy

Market Movers rounded up the latest reactions on Broadcom from investors and analysts. The pros discussed the semiconductor company a day after it announced quarterly results that beat estimates but also reported fiscal fourth-quarter revenue guidance that was roughly in line with expectations. Nevertheless, UBS is maintaining its buy rating and $925 price target on Broadcom's stock, saying the chipmaker is a "prime beneficiary" of the artificial intelligence fight. The chipmaker ended the trading day down about 5.5%. The stock is currently held in Jim Cramer's Charitable Trust portfolio.

https://www.cnbc.com/2023/09/01/stocks-making-the-biggest-moves-midday-pd-dell-tsla.html

AVGO

Broadcom Inc.

Stocks making the biggest moves midday: PagerDuty, Dell, Tesla, Broadcom and more

A sign is posted in front of a Broadcom office in San Jose, California, June 3, 2021. Check out the companies making headlines in midday trading: VMware — The cloud services company slid 2.8%, a day after giving a mixed second-quarter report. While VMware surpassed expectations for earnings per share, it missed on revenue. Lululemon Athletica — The stock popped 6% on Friday after the athletic apparel retailer reported an earnings beat following Thursday's close. Fiscal second-quarter earnings per share came in at $2.68, versus the $2.54 expected from analysts polled by Refinitiv. Revenue was $2.21 billion, topping estimates of $2.17 billion. Lululemon also upped its guidance for the year. Broadcom — The chip stock lost 5.5% after the company issued fiscal fourth-quarter revenue guidance that was slightly below Wall Street estimates amid concerns about competition in the networking chip space. Broadcom did report better-than-expected earnings and revenue for the latest quarter, however. Papa John's — The pizza chain climbed 1.9% following a Wedbush upgrade to outperform from neutral. The firm said shares were too cheap. PagerDuty — The stock declined 7.7% after PagerDuty issued third-quarter earnings guidance that missed analysts' expectations. The company expects earnings per share between 13 cents and 14 cents for the quarter, below a StreetAccount consensus of 15 cents per share. Baird also downgraded PagerDuty to neutral from outperform, saying its shares are in the "penalty box." A-Mark Precious Metals — Shares of the precious metals trading company soared 10.9% during Friday's trading session after the company posted its latest quarterly results and announced a $1 per share special dividend. Revenue totaled $3.16 billion, exceeding expectations of $2.31 billion. The company's earnings per share came out at $1.71, however, which was lower than analysts' expectations of $1.76, according to StreetAccount. Dell Technologies — Dell Technologies surged 21.3% Friday after exceeding analysts' second-quarter expectations. The computer company reported adjusted earnings per share of $1.74 and revenue of $22.93 billion. Analysts polled by Refinitiv anticipated earnings per share of $1.14 and $20.85 billion. Morgan Stanley also named Dell a top pick in IT hardware. Walgreens Boots Alliance — The drugstore chain declined 7.4% after the company announced Roz Brewer had stepped down as the company's chief executive and left the board. Tesla — Shares of Tesla dropped nearly 5.1% after the electric vehicle maker cut prices for some Model S and Model X vehicles in China. MongoDB — MongoDB gained just above 3% on Friday after topping Wall Street expectations in its latest quarter. The database software maker posted adjusted earnings of 93 cents per share on revenue totaling $423.8 million for the second quarter. Those results topped expectations of 46 cents in earnings per share and $393 million in revenue, according to a consensus estimate from Refinitiv. — CNBC's Yun Li, Alex Harring and Michelle Fox Theobald contributed reporting.

https://www.cnbc.com/2023/05/23/apple-announces-multibillion-dollar-deal-with-broadcom-for-us-made-chips.html

AVGO

Broadcom Inc.

Apple announces multibillion-dollar deal with Broadcom for U.S.-made chips

Apple CEO Tim Cook holds the new iPhone 14 at an Apple event at their headquarters in Cupertino, California, September 7, 2022. Apple on Tuesday announced a new multibillion-dollar deal with Broadcom to develop 5G radio frequency components in the U.S. "We're thrilled to make commitments that harness the ingenuity, creativity, and innovative spirit of American manufacturing," Apple CEO Tim Cook said in a release. Shares of Broadcom closed up 1% Tuesday. Apple's stock closed down 1%. The 5G radio components developed by Broadcom, a technology and advanced manufacturing company, will include FBAR filters and other wireless connectivity components, according to the release. These components are different from the 5G modems that are made by Qualcomm. Apple said its deal with Broadcom is part of its 2021 commitment to invest $430 billion in the U.S. economy. The move marks the latest phase of a partnership between the two companies, as Broadcom announced it would sell $15 billion in wireless components to Apple in 2020. The company said the deal with Broadcom will also allow it to invest in "critical automation projects and upskilling" with engineers and other technicians. Apple already supports more than 1,100 jobs in Broadcom's Fort Collins, Colorado, FBAR filter manufacturing facility, according to the release.

https://www.cnbc.com/2023/06/02/buy-broadcom-thanks-to-an-undervalued-ai-portfolio-bank-of-america-says.html

AVGO

Broadcom Inc.

Buy Broadcom due to an undervalued A.I. portfolio, Bank of America says

Bank of America thinks chipmaker Broadcom can thrive in the ongoing artificial intelligence boom. The bank raised its price target on the stock to $950 from $800 and reiterated its buy rating. BofA's new forecast represents more than 20% upside compared to the stock's $789.95 close Thursday. Analyst Vivek Arya said while BofA is taking "a conservative approach" in models on Broadcom, exposure to AI could amount to roughly 20% of total sales while the company's core semiconductor business can grow between 2% and 3%. This outlook contributes to BofA's forecast of fiscal year 2024 sales and earnings per share of $39.4 billion and $46.59 per share, respectively. Broadcom could add more to sales and EPS due to AI exposure. "In a bull case scenario where AVGO can grow AI exposure to ~25% of sales (and hold growth rates of non-AI assets at previously mentioned levels), we see incremental $2bn/$3 upside to our sales/EPS estimates," Arya said, calling the company's AI portfolio "underappreciated." The stock has been looped up into the rising tide of AI beneficiaries with a 41% gain in 2023. AVGO YTD mountain Broadcom stock has added nearly 42% from the start of the year. — CNBC's Michael Bloom contributed to this report.

https://www.cnbc.com/2023/09/22/microsoft-and-more-cnbcs-halftime-report-answers-your-questions.html

AVGO

Broadcom Inc.

Microsoft, Broadcom and more: CNBC's 'Halftime Report' traders answer your questions

On Friday's "Ask Halftime," traders answered questions from CNBC Pro subscribers about which stocks and exchange-traded funds to buy, hold or sell right now. NewEdge Wealth's Rob Sechan talks about why right now may not be the best time to enter new positions in Microsoft and Broadcom because he sees more downside to come before they go higher. Bryn Talkington of Requisite Capital Management recommended the Invesco S & P 500 Equal Weight ETF (RSPG) for exposure to energy names because it is more diversified than the Energy Select Sector SPDR Fund (XLE ).

https://www.cnbc.com/2023/07/12/broadcoms-61-billion-vmware-deal-wins-conditional-eu-antitrust-ok.html

AVGO

Broadcom Inc.

Broadcom's $61 billion VMware deal wins conditional EU antitrust OK

A sign is posted in front of a Broadcom office in San Jose, California, on June 3, 2021. U.S. chipmaker Broadcom secured EU antitrust approval on Wednesday for its $61 billion proposed acquisition of cloud computing firm VMware after offering remedies to help rival Marvell Technology . The deal, Broadcom's largest ever, will help the chipmaker diversify into enterprise software. Broadcom offered Marvell and other rivals interoperability commitments related to its Fibre Channel Host-Bus Adapters (FC HBAs), a kind of storage adapters, the European Commission said, confirming a Reuters story last month. Marvell and other rivals will have "guaranteed access to the interoperability Application Programming Interfaces as well as to the materials, tools and technical support necessary for the development and certification of third-party FC HBAs", the EU competition enforcer said. Marvell and other rivals will also have guaranteed access to the source code for all of Broadcom's current and future FC HBA drivers through an irrevocable open source license. "The commitments offered by Broadcom will enable its only rival Marvell, to continue competing on equal footing and ensure a similar protection for any future entrants," EU antitrust chief Margrethe Vestager said in a statement. The U.S. Federal Trade Commission and the UK competition agency are also examining the deal. "We continue to make progress with our various regulatory filings around the world, having received legal merger clearance in Australia, Brazil, Canada, the European Union, South Africa, and Taiwan, and foreign investment control clearance in all necessary jurisdictions," Broadcom said in a statement.

https://www.cnbc.com/2023/06/02/fridays-biggest-wall-street-analyst-calls-like-apple.html

AVGO

Broadcom Inc.

Here are Friday's biggest analyst calls: Apple, Amazon, Broadcom, Bowlero, Microsoft, Rivian and more

Here are Friday's biggest calls on Wall Street. Bank of America reiterates Broadcom as buy Bank of America raised its price target on the stock to $950 per share from $800 after Broadcom's earnings report Thursday. The firm said it's an "underappreciated AI portfolio" story. "Our new PO of $950 (from $800) represents 21x CY24E EV/FCF as AI accelerates company growth potential. In a bull case scenario where AVGO can grow AI exposure to ~25% of sales we see incremental $2bn/$3 upside to our sales/EPS estimates." Read more about this call here. B. Riley FBR initiates Bowlero as buy B. Riley said shares of the bowling company are attractive. "We believe Bowlero is well positioned to continue to take market share from a fragmented and 'old school' bowling industry with a management team that has a proven track record of value creation from acquisition conversions." Piper Sandler downgrades Dollar General to neutral from overweight Piper downgraded the stock after a disappointing earnings report Thursday. "After maintaining an OW rating on DG shares for > 10 years, we are downgrading shares to Neutral on somewhat inexplicable sales/comp weakness, lack of conviction for a near term rebound, and concerns that guidance wasn't reduced enough." Atlantic Equities downgrades Warner Music to neutral from overweight Atlantic Equities downgraded Warner Music on slowing growth and artificial intelligence concerns. "Over the past six months, there have been two key developments 1) loss of streaming share means recorded music streaming revenues are growing slower than expected, and 2) the rapid development of AI-created music is placing a major cloud over the whole sector." Morgan Stanley reiterates Apple as overweight Morgan Stanley raised its price target on the stock to $190 per share from $185 and said it's bullish on the company's opportunity in augmented and virtual reality. "AR/VR is < 1% of revs but AR/VR has the potential to become Apple's next $20B+ compute platform; PT to $190." Wells Fargo reiterates Broadcom as overweight Wells Fargo raised its price target on the stock to $800 per share from $600 after the company's robust earnings report Thursday. "Broadcom delivered above-consensus results and guidance as AI spending drives semiconductor revenue higher; now representing 15% of semiconductor business & expected to grow to 25% in F2024." JPMorgan downgrades Valvoline to neutral from overweight JPMorgan downgraded the stock mainly on valuation. "Longer-term share multiple risk in Valvoline is likely to stem from long-term growth expectations for electric vehicles." JPMorgan downgrades Xcel Energy to neutral from overweight JPMorgan downgraded the energy company due to rising regulatory risks. "Overall, XEL remains an attractive regulated story with exposure to energy transition themes across generation and transmission, which underpins an extended growth runway into the next decade. However, the company currently carries a top +13.5% P/E premium across our regulated coverage, which leaves little room for the regulatory risk now highlighted by the commissions order." Read more about this call here. Bank of America reiterates Five Below as buy Bank of America said the discount retailer has "recession resilience." "Underappreciated name with long-term growth potential We reiterate our Buy rating as we continue to believe in FIVE's long-term growth potential." Bank of America upgrades Surgery Partners to buy from neutral Bank of America said the health care company has "favorable long-term tailwinds." "We are upgrading Surgery Partners (SGRY) to Buy from Neutral given the favorable long-term tailwinds for ambulatory surgery centers (ASCs), and the near-term lift from volume normalization." Stifel upgrades FibroGen to buy from hold Stifel said it's bullish on shares of the biotechnology company. " FibroGen focuses on the development of two potential first-in-class drug candidates. Lead product, Pamrevlumab, is an anti-CTGF mAb that targets various fibrotic diseases." Goldman Sachs downgrades Ginkgo Bioworks to sell from neutral Goldman said it sees a "softening end demand market" for the biotech company. "While we believe the end market shift towards Biopharma and Agriculture is a sound long term strategy, we believe the macro environment and the softening spend we are seeing in the biopharma end market may result in slower new program growth for DNA. " JPMorgan reiterates Amazon as overweight JPMorgan Chase said it's standing by Amazon as a best idea. "We estimate AMZNs share of US e-commerce increased +119bps Y/Y to 40.9% in 1Q, the third consecutive quarter in which AMZNs share has increased more than 100bps Y/Y." Evercore ISI reiterates Microsoft as outperform Evercore ISI raised its price target on the stock to $400 per share from $337 and said it's getting more bullish on the company's AI opportunity. "We believe the infusion of AI across Microsoft's product portfolio represents a potential ~$100bn incremental revenue uplift in 2027 based on our 'bull case' scenario." Morgan Stanley upgrades The Trade Desk to overweight from equal weight Morgan Stanley said the ad tech company is "best in class." " TTD is driving and benefiting from growth in CTV and retail media advertising." Read more about this call here. Barclays reiterates Rivian as overweight Barclays said it sees "clear opportunity ahead" for the stock. "Yesterday we visited RIVN' s plant in Normal, IL, meeting with Frank Klein (COO), Tim Fallon (VP, Manufacturing), Tim Bei (VP, Strategic Finance and IR), and Derek Mulvey (Director, Strategic Finance and IR). Our clear takeaway is that RIVN has moved past the many challenges / fire fights which deeply challenged operations in 2022." Citi opens a positive catalyst watch on Frontier Citi said it's bullish on the discount carrier getting takeoff and landing slots at LaGuardia Airport. "The combination of the stock's ytd underperformance, lower fuel and now the possibility of the carrier obtaining Spirit Airlines' LaGuardia Airport takeoff/landing slots and gates, leads Citi to open a positive, 90-day Catalyst Watch on the shares of Buy-rated Frontier. " Bank of America reiterates Lululemon as buy Bank of America said Lululemon is a "best-in-class growth story." "We reiterate our Buy after a beat and raise quarter, which stands out after a difficult 1Q reporting season for peers."

https://www.cnbc.com/id/42235170

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Broadridge Financial Solutions

Leon Cooperman: 17 Stocks I Like

"The stock market is cheap relative to inflation, it's cheap relative to its own history, it's cheap relative to interest rates," said Cooperman, a hedge fund billionaire and now the chair and CEO of Omega Advisors. He was formerly the chairman and CEO of Asset Management at Goldman Sachs . Here are the stocks Cooperman mentioned on air: Apple Ace BP Broadridge Financial Solutions Citrix Systems CVS Caremark Discovery Communications ETrade Denbury Resources General Motors JP Morgan Chase KKR Financial MetLife MGIC Investment* Teva Pharmaceutical Vodafone Verizon *Correction: An earlier version of this story incorrectly listed Magic Software. ______________________________ CNBC Data Pages: ______________________________ Slideshow: CNBC's Boldest Predictions for 2011 ______________________________ ______________________________ Disclosures: Disclosure information was not available for Leon Cooperman or his company. Disclaimer

https://www.cnbc.com/2023/01/27/what-is-a-humpty-dumpty-portfolio.html

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Broadridge Financial Solutions

Do you have a 'Humpty Dumpty portfolio'? It may be costing you thousands

When Rick Ferri, a financial advisor and founder of Ferri Investment Solutions, recently saw a new client's portfolio, it conjured a familiar image: a comic by retirement planner Aaron Brask featuring Humpty Dumpty. In it, an intact egg sitting on the wall is labeled as a total market portfolio with an expense ratio of 0.04%. Up comes a villainous financial planner who pushes Humpty off the wall. When he's glued back together again, Humpty is now made up of several types of investments rather than one fund. The advisor, now labeling the egg as a "diversified portfolio," is charging 1%. It may not be the world's funniest comic, but it's one worth paying attention to, especially if you work with a financial advisor. What the comic describes and what Ferri saw in his client's portfolio is all too common in the financial planning world: advisors justifying high fees by making simple strategies seem complicated. "Complexity is advisor job security," Ferri told CNBC Make It. "You can't use too few funds because clients will realize they don't need you anymore." Here's how to know if you're in a "Humpty Dumpty portfolio" and why it's essential to keep your investing costs as low as possible. What is a 'Humpty Dumpty portfolio'? Generally, financial pros will tell you to invest in a low-cost, broadly diversified portfolio. One easy way to accomplish this is to invest in index mutual funds or exchange-traded funds, which seek to track and match the performance of a market benchmark, such as the S&P 500. If you purchased a so-called "total market" ETF, for instance, you'd have exposure to a portfolio representing the entire investable U.S. stock market. Vanguard charges annual expenses of just 0.03% for its version. For someone holding both stocks and bonds, you could build an adequately diversified portfolio using four funds, says Ferri: one for U.S. stocks, one for international stocks, one for U.S. bonds and one for international bonds. "You could even get away with one or two funds," he says. Yet in his consulting work, when fellow advisors ask for Ferri's help building model portfolios, they rarely want to keep things that simple. "My first question is, 'What's the minimum number of funds?'" he says. A common answer among advisors: "At least eight. No more than 12." That's enough names, so that when an investor looks at the portfolio, they think they're getting a complicated strategy. In reality, its often a big swath of the market broken down into little pieces. Put those pieces back together again (with or without the help of all the king's horses) and you have exposure to the same broad market indexes, just at a higher price tag. A total stock market fund can be split into two camps: growth stocks and value stocks. Or you could split it three ways: small-company, midsize and large-company stocks. Using those two parameters alone, you could take one diversified index fund, and split it into six smaller funds. Overall, your exposure to the market may be exactly the same — it just looks more complicated. The best way to tell if you're in such a portfolio is if you essentially hold two "halves" of the same index, says Ferri. "If you see large growth and large value, and it's the same amount of money in both funds, you know it's BS," he says. Why you don't want a 'Humpty Dumpty portfolio'

https://www.cnbc.com/id/33070753

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Broadridge Financial Solutions

Where to Invest Now: Stock Pickers

“[But] the market becomes much more attractive. So in general, the market is fairly valued but there’s more to go in 2010 if the economy continues to improve.” (Read below for Stepherson's stock and sector picks.) In the meantime, Hennessy said although consumers are slowly returning, they are not necessarily coming back to the once sought high-end retailers. “They’re in the middle to low-end,” he said. “People are understanding how to spend their money better and they’re saving at the same time. It’s going through a lot of different sectors, not just the retail sector.” More CNBC Market Intelligence: Hennessy said companies are acquiring information solutions to replace the numerous staff positions lost during the layoffs in the last year. “They’ve laid off all their employees and now it’s time to improve their margins and you can do that through technology that’s already existing,” he said. “So a lot of money is going to be spent on the information technology.” Companies like Broadridge Financial Solutions, Automatic Data Processing, Computer Sciences should benefit, Hennessy said. However, other than the companies above and other solutions to technology for companies, Hennessy said he would avoid the technology sector. Stepherson Likes: Google Technology Financials Energy Some Industrials ______________________________ Disclosures: No immediate information was available for Hennessy or Stepherson. ______________________________ CNBC Slideshows: ______________________________ ______________________________ Disclaimer

https://www.cnbc.com/select/aura-identity-theft-protection-review-2024/

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Broadridge Financial Solutions

Aura review: Protect your identity, finances and family across multiple devices

In 2023, U.S. consumers lost more than $10 billion to fraud, according to the Federal Trade Commission, the highest amount ever recorded by the agency. That same year, the FTC logged more than a million cases of identity theft. Billing itself as an all-in-one digital safety solution, Aura offers identity theft protection, spam blocking, antivirus software, parental controls and more. But the Aura app also includes benefits associated with personal finance apps, including credit score and credit monitoring reports. Below, CNBC Select reviews Aura's features, benefits and pricing and looks at how it stacks up to the competition. Aura Learn More Cost Individual plan: $9/month billed annually or $12/month billed monthly; Couple plan: $17/month billed annually or $20/month billed monthly; Family plan: $20/month billed annually or $32/month billed monthly Standout features Protects against financial fraud, identity theft, spam calls, online theft, phishing and scam websites, viruses and malware, as well as offering security tailored to kids and financial alerts like credit score monitoring Availability Offered in both the App Store (for iOS) and on Google Play (for Android) Terms apply. Pros Extensive security offerings that provide protection from hackers and online predators Credit score monitoring and access to credit report Discount if choose to bill annually versus monthly 14-day free trial and, on all annual plans, 60-day money-back guarantee Offers couple and family plans Cons Costs for whichever plan you choose Learn More View More Overview Aura offers identity theft and credit protection, along with features to keep your online activity secure. There are plans for individuals, couples and families that provide mostly the same benefits but for a different number of users and devices. Individual plan: One person and up to 10 devices Couple plan: Two people and up to 20 devices Family plan: Five adults, unlimited children and up to 50 devices Aura's top features include: Identity theft and fraud protection Credit monitoring and credit score Antivirus software VPN Spam blocking Password manager and vault Dark web monitoring Aura's family plan adds parental controls like content filters, screen-time limits and alerts about in-game threats, as well as the ability to track how long your kids have been online. Features Aura goes beyond securing your identity, offering robust protections for your credit report and online activity. Here's a breakdown of Aura's services: Identity theft protection Identity monitoring: Aura will notify users if their Social Security number, driver's license, passport, email or other accounts have been breached or found on the dark web. Aura will notify users if their Social Security number, driver's license, passport, email or other accounts have been breached or found on the dark web. Identity theft insurance: Aura's $1 million identity theft insurance policy doesn't just cover financial losses and legal fees, it includes lost wages and child care while you resolve the issue. Aura's $1 million identity theft insurance policy doesn't just cover financial losses and legal fees, it includes lost wages and child care while you resolve the issue. Home and auto title monitoring: If a scammer gets access to your title, they can use it as collateral for a loan or illegally sell your car or house. Aura monitors public records for any unauthorized changes or suspicious activity relating to your deed and title. If a scammer gets access to your title, they can use it as collateral for a loan or illegally sell your car or house. Aura monitors public records for any unauthorized changes or suspicious activity relating to your deed and title. Fraud resolution team: If you've been the victim of ID theft, Aura's staff is on hand 24/7 to help initiate credit freezes, work with credit bureaus and notify creditors and law enforcement. Credit protection Credit monitoring: Aura reviews all three main credit bureaus to alert you if someone tried to open a credit card or bank account in your name. Aura reviews all three main credit bureaus to alert you if someone tried to open a credit card or bank account in your name. Monthly credit score: Aura sends users their updated VantageScore each month. While lenders more often check FICO scores, your VantageScore can still give insight into whether good financial habits are paying off. Aura sends users their updated VantageScore each month. While lenders more often check FICO scores, your VantageScore can still give insight into whether good financial habits are paying off. Account monitoring : Aura notifies you about unusual activity in your bank and investment accounts. : Aura notifies you about unusual activity in your bank and investment accounts. Lost wallet service: If your wallet is lost or stolen, Aura helps cancel credit cards and other sensitive items and order replacements. Online protection Password manager: Aura can generate strong passwords for you and securely store them using encryption. Aura can generate strong passwords for you and securely store them using encryption. Smart vault: Each plan member is given up to 1GB of encrypted cloud to store important or sensitive files. Each plan member is given up to 1GB of encrypted cloud to store important or sensitive files. VPN: Aura's VPN uses military-grade encryption to protect your online activity when using public WiFi. If you're traveling, it can also connect you to a U.S. virtual location. Aura's VPN uses military-grade encryption to protect your online activity when using public WiFi. If you're traveling, it can also connect you to a U.S. virtual location. Safe browsing: Aura's AI-powered safe browsing feature prevents users from entering questionable websites, including scams or phishing sites. Aura's AI-powered safe browsing feature prevents users from entering questionable websites, including scams or phishing sites. Privacy assistant: Aura will contact data brokers to remove your information so you're not flooded with telemarketing calls and spam emails. Fees All of Aura's plans come with a 14-day free trial. There is a discount for signing up for an annual subscription, which also comes with a 60-day money-back guarantee. Individual plan: $12 per month (or $9 per month, if billed annually) Couple plan: $20 per month (or $17 per month, if billed annually) Family plan: $32 per month (or $20 per month, if billed annually) How Aura compares to the competition There are a lot of offerings in the identity theft protection market. Here's how Aura stands up against two other services. Aura vs. IdentityForce Aura and the IdentityForce®+Credit plan offer comparable protection against identity theft and financial fraud, though IdentityForce's plans provide $2 million in identity theft insurance, twice what Aura does. IdentityForce® Learn More On IdentityForce®'s secure site. Cost UltraSecure Individual: $19.90 per month or $199.90 per year; UltraSecure+Credit Individual: $34.90 per month or $349.90 per year; UltraSecure Family: $24.90 per month or $249.90 per year; UltraSecure+Credit Family: $39.90 per month or $399.90 per year Credit bureaus monitored 3-bureau credit monitoring, alerts and reports: Experian, Equifax and TransUnion®, with UltraSecure+Credit Individual and UltraSecure+Credit Family plans only Credit scoring model used VantageScore® 3.0, with UltraSecure+Credit Individual and UltraSecure+Credit Family plans only Dark web scan Yes, with all plans Identity theft insurance Yes, at least $1 million with all plans Terms apply. When it comes to cost, however, Aura comes out on top: Its individual plan starts at $12 a month (or $9 per month if you sign up for an annual plan) while IdentityForce+Credit is $35 a month (or about $29 a month for an annual plan). Aura's family plan is $32 monthly (or $20 a month billed annually), compared to about $40 per month for the IdentityForce+Credit family plan (or about $33 a month billed annually). In addition, IdentityForce only allows two adults and 10 kids on its family plan, but that's a moot point except for the largest of families. Aura vs. Experian IdentityWorks Experian IdentityWorks℠ is one of the few ID protection services with a free tier: Its basic plan gives users monthly access to their FICO score, plus credit report monitoring and dark web surveillance. Experian IdentityWorks℠ Learn More On Experian's secure site. Cost Basic: Free; Premium: 7-day trial, after $24.99 per month; Family: 7-day trial, after $34.99 per month Credit bureaus monitored 1-bureau credit monitoring, alerts and reports: Experian, with Basic plan only and 3-bureau credit monitoring, alerts and reports: Experian, Equifax and TransUnion®, with Premium and Family plans only Credit scoring model used FICO® Score 8, with all plans Dark web scan Yes, with all plans Identity theft insurance Yes, up to $1 million with all plans Terms apply. *Identity Theft Insurance underwritten by insurance company subsidiaries or affiliates of American International Group, Inc. (AIG). The description herein is a summary and intended for informational purposes only and does not include all terms, conditions and exclusions of the policies described. Please refer to the actual policies for terms, conditions, and exclusions of coverage. Coverage may not be available in all jurisdictions. But to get more of the services that Aura offers — credit reports from all three bureaus, alerts about your bank accounts and Social Security number, $1 million in identity theft insurance and identity monitoring for up to 10 children — an IdentityWorks family plan costs $35 a month with no discount for an annual plan. FAQs Is Aura a legitimate company? Yes, Aura is a legitimate company with an A+ rating from the Better Business Bureau. How much is Aura a month? An individual plan with Aura costs $12 per month (or $9 per month, if billed annually). The couple's plan is $20 per month ($17 per month billed annually) and the family plan is $32 per month ($20 per month billed annually). Does Aura provide credit reports from all three credit bureaus? Yes, unlike some of its competitors, Aura offers regular updates from Experian, TransUnion and Equifax. Bottom line Aura stands out as a versatile digital security app with extensive identity theft features and optional parental controls. If you're just looking for protection against financial fraud, however, you may be better off with a credit monitoring service. Enter to win an iPad Enter to win an iPad from CNBC Select. We're giving away an iPad to one lucky winner who fills out our survey about personal finance interests and habits. NO PURCHASE NECESSARY. Void where prohibited. Legal residents of the 50 U.S. states or DC who are 18 or older. Ends 5/8/24. Limit one entry per person. Sponsors: CNBC Select and NBCUniversal Media, LLC. Why trust CNBC Select? At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every identity theft protection service review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of personal finance and credit monitoring products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. Catch up on CNBC Select's in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date. Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

https://www.cnbc.com/2024/04/11/amazon-ceo-andy-jassy-says-committed-to-cost-cutting-while-investing-in-ai-in-shareholder-letter.html

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Broadridge Financial Solutions

Amazon CEO Andy Jassy in shareholder letter says he's committed to cost cutting while investing in AI

Amazon CEO Andy Jassy on Thursday published his annual shareholder letter, where he pledged to look for ways to keep costs in check even as the company doubles down on investing in new growth areas like artificial intelligence. "I think every one of us at Amazon believes that we have a long way to go, in every one of our businesses, before we exhaust how we can make customers' lives better and easier, and there is considerable upside in each of the businesses in which we're investing," Jassy wrote in his third shareholder letter since taking the helm at Amazon from former CEO Jeff Bezos, who stepped down in mid-2021. Under Jassy, Amazon has morphed into a leaner version of itself, as slowing sales and a challenging economy pushed the company to eschew the relentless growth of the Bezos years. Beginning at the end of 2022 and continuing through 2023, Amazon initiated the largest layoffs in its history, cutting more than 27,000 jobs. Those cuts have continued this year, with Amazon announcing layoffs in its cloud computing, Prime Video and Twitch livestreaming units, among others. Jassy said he believes there's ways for the company to continue "lowering our cost to serve" in the retail business this year and beyond that. Even amid a period of retrenchment in some areas, Jassy said he's focused on finding new areas of growth within the company so that Amazon remains "resilient" in the long term. He stressed the importance of building "primitive services," which he described as "discrete, foundational building blocks" that can spur new projects and businesses. Jassy used Amazon Web Services, its cloud computing division, as an example. Before he became Amazon's CEO, Jassy oversaw the creation of AWS, which grew from an internal tool powering its retail operations to become the dominant cloud service and one of Amazon's most profitable businesses. He said he believes generative artificial intelligence is shaping up to become Amazon's next big primitive service. The company has been in search of its next "pillar," which is an internal phrase the company often uses to describe its most successful businesses. Amazon's first three pillars are its retail, Prime subscription and cloud computing units. "While we're building a substantial number of GenAI applications ourselves, the vast majority will ultimately be built by other companies," Jassy said. "However, what we're building in AWS is not just a compelling app or foundation model." He noted Amazon's cloud computing service will be an important player in the AI boom, saying, "We're optimistic that much of this world-changing AI will be built on top of AWS." Amazon on Thursday added Andrew Ng, a renowned AI pioneer who previously led Google Brain and was a scientist at Baidu, to its board. Ng will succeed Judy McGrath, who has sat on the board since 2014. In the past year, Amazon has made a flurry of AI announcements as the field exploded, causing tech companies to pour money into the space. Last month, Amazon added $2.75 billion to its stake in AI startup Anthropic in its largest venture investment yet. Jassy has also pledged to infuse AI into every one of Amazon's businesses. The company in February launched a tool called Rufus that uses AI to help users search and shop for products. Elsewhere, it has rolled out "Q," an AI chatbot for companies to assist with daily tasks, and Bedrock, a generative AI service for Amazon Web Services customers. Here's the full text of Jassy's letter: Dear Shareholders: Last year at this time, I shared my enthusiasm and optimism for Amazon's future. Today, I have even more. The reasons are many, but start with the progress we've made in our financial results and customer experiences, and extend to our continued innovation and the remarkable opportunities in front of us. In 2023, Amazon's total revenue grew 12% year-over-year ("YoY") from $514B to $575B. By segment, North America revenue increased 12% YoY from $316B to $353B, International revenue grew 11% YoY from $118B to $131B, and AWS revenue increased 13% YoY from $80B to $91B. Further, Amazon's operating income and Free Cash Flow ("FCF") dramatically improved. Operating income in 2023 improved 201% YoY from $12.2B (an operating margin of 2.4%) to $36.9B (an operating margin of 6.4%). Trailing Twelve Month FCF adjusted for equipment finance leases improved from -$12.8B in 2022 to $35.5B (up $48.3B). While we've made meaningful progress on our financial measures, what we're most pleased about is the continued customer experience improvements across our businesses. In our Stores business, customers have enthusiastically responded to our relentless focus on selection, price, and convenience. We continue to have the broadest retail selection, with hundreds of millions of products available, tens of millions added last year alone, and several premium brands starting to list on Amazon (e.g. Coach, Victoria's Secret, Pit Viper, Martha Stewart, Clinique, Lancôme, and Urban Decay). Being sharp on price is always important, but particularly in an uncertain economy, where customers are careful about how much they're spending. As a result, in Q4 2023, we kicked off the holiday season with Prime Big Deal Days, an exclusive event for Prime members to provide an early start on holiday shopping. This was followed by our extended Black Friday and Cyber Monday holiday shopping event, open to all customers, that became our largest revenue event ever. For all of 2023, customers saved nearly $24B across millions of deals and coupons, almost 70% more than the prior year. We also continue to improve delivery speeds, breaking multiple company records. In 2023, Amazon delivered at the fastest speeds ever to Prime members, with more than 7 billion items arriving same or next day, including more than 4 billion in the U.S. and more than 2 billion in Europe. In the U.S., this result is the combination of two things. One is the benefit of regionalization, where we re-architected the network to store items closer to customers. The other is the expansion of same-day facilities, where in 2023, we increased the number of items delivered same day or overnight by nearly 70% YoY. As we get items to customers this fast, customers choose Amazon to fulfill their shopping needs more frequently, and we can see the results in various areas including how fast our everyday essentials business is growing (over 20% YoY in Q4 2023). Our regionalization efforts have also trimmed transportation distances, helping lower our cost to serve. In 2023, for the first time since 2018, we reduced our cost to serve on a per unit basis globally. In the U.S. alone, cost to serve was down by more than $0.45 per unit YoY. Decreasing cost to serve allows us both to invest in speed improvements and afford adding more selection at lower Average Selling Prices ("ASPs"). More selection at lower prices puts us in consideration for more purchases. As we look toward 2024 (and beyond), we're not done lowering our cost to serve. We've challenged every closely held belief in our fulfillment network, and reevaluated every part of it, and found several areas where we believe we can lower costs even further while also delivering faster for customers. Our inbound fulfillment architecture and resulting inventory placement are areas of focus in 2024, and we have optimism there's more upside for us. Internationally, we like the trajectory of our established countries, and see meaningful progress in our emerging geographies (e.g. India, Brazil, Australia, Mexico, Middle East, Africa, etc.) as they continue to expand selection and features, and move toward profitability (in Q4 2023, Mexico became our latest international Stores locale to turn profitable). We have high conviction that these new geographies will continue to grow and be profitable in the long run. Alongside our Stores business, Amazon's Advertising progress remains strong, growing 24% YoY from $38B in 2022 to $47B in 2023, primarily driven by our sponsored ads. We've added Sponsored TV to this offering, a self-service solution for brands to create campaigns that can appear on up to 30+ streaming TV services, including Amazon Freevee and Twitch, and have no minimum spend. Recently, we've expanded our streaming TV advertising by introducing ads into Prime Video shows and movies, where brands can reach over 200 million monthly viewers in our most popular entertainment offerings, across hit movies and shows, award-winning Amazon MGM Originals, and live sports like Thursday Night Football. Streaming TV advertising is growing quickly and off to a strong start. Shifting to AWS, we started 2023 seeing substantial cost optimization, with most companies trying to save money in an uncertain economy. Much of this optimization was catalyzed by AWS helping customers use the cloud more efficiently and leverage more powerful, price-performant AWS capabilities like Graviton chips (our generalized CPU chips that provide ~40% better price-performance than other leading x86 processors), S3 Intelligent Tiering (a storage class that uses AI to detect objects accessed less frequently and store them in less expensive storage layers), and Savings Plans (which give customers lower prices in exchange for longer commitments). This work diminished short-term revenue, but was best for customers, much appreciated, and should bode well for customers and AWS longer-term. By the end of 2023, we saw cost optimization attenuating, new deals accelerating, customers renewing at larger commitments over longer time periods, and migrations growing again. The past year was also a significant delivery year for AWS. We announced our next generation of generalized CPU chips (Graviton4), which provides up to 30% better compute performance and 75% more memory bandwidth than its already-leading predecessor (Graviton3). We also announced AWS Trainium2 chips, which will deliver up to four times faster machine learning training for generative AI applications and three times more memory capacity than Trainium1. We continued expanding our AWS infrastructure footprint, now offering 105 Availability Zones within 33 geographic Regions globally, with six new Regions coming (Malaysia, Mexico, New Zealand, the Kingdom of Saudi Arabia, Thailand, and a second German region in Berlin). In Generative AI ("GenAI"), we added dozens of features to Amazon SageMaker to make it easier for developers to build new Foundation Models ("FMs"). We invented and delivered a new service (Amazon Bedrock) that lets companies leverage existing FMs to build GenAI applications. And, we launched the most capable coding assistant around in Amazon Q. Customers are excited about these capabilities, and we're seeing significant traction in our GenAI offerings. (More on how we're approaching GenAI and why we believe we'll be successful later in the letter.) We're also making progress on many of our newer business investments that have the potential to be important to customers and Amazon long-term. Touching on two of them: We have increasing conviction that Prime Video can be a large and profitable business on its own. This confidence is buoyed by the continued development of compelling, exclusive content (e.g. Thursday Night Football, Lord of the Rings, Reacher, The Boys, Citadel, Road House, etc.), Prime Video customers' engagement with this content, growth in our marketplace programs (through our third-party Channels program, as well as the broad selection of shows and movies customers rent or buy), and the addition of advertising in Prime Video. In October, we hit a major milestone in our journey to commercialize Project Kuiper when we launched two end-to-end prototype satellites into space, and successfully validated all key systems and sub-systems—rare in an initial launch like this. Kuiper is our low Earth orbit satellite initiative that aims to provide broadband connectivity to the 400-500 million households who don't have it today (as well as governments and enterprises seeking better connectivity and performance in more remote areas), and is a very large revenue opportunity for Amazon. We're on track to launch our first production satellites in 2024. We've still got a long way to go, but are encouraged by our progress. Overall, 2023 was a strong year, and I'm grateful to our collective teams who delivered on behalf of customers. These results represent a lot of invention, collaboration, discipline, execution, and reimagination across Amazon. Yet, I think every one of us at Amazon believes that we have a long way to go, in every one of our businesses, before we exhaust how we can make customers' lives better and easier, and there is considerable upside in each of the businesses in which we're investing. === In my annual letter over the last three years, I've tried to give shareholders more insight into how we're thinking about the company, the businesses we're pursuing, our future opportunities, and what makes us tick. We operate in a diverse number of market segments, but what ties Amazon together is our joint mission to make customers' lives better and easier every day. This is true across every customer segment we serve (consumers, sellers, brands, developers, enterprises, and creators). At our best, we're not just customer obsessed, but also inventive, thinking several years out, learning like crazy, scrappy, delivering quickly, and operating like the world's biggest start-up. We spend enormous energy thinking about how to empower builders, inside and outside of our company. We characterize builders as people who like to invent. They like to dissect a customer experience, assess what's wrong with it, and reinvent it. Builders tend not to be satisfied until the customer experience is perfect. This doesn't hinder them from delivering improvements along the way, but it drives them to keep tinkering and iterating continually. While unafraid to invent from scratch, they have no hesitation about using high-quality, scalable, cost-effective components from others. What matters to builders is having the right tools to keep rapidly improving customer experiences. The best way we know how to do this is by building primitive services. Think of them as discrete, foundational building blocks that builders can weave together in whatever combination they desire. Here's how we described primitives in our 2003 AWS Vision document: "Primitives are the raw parts or the most foundational-level building blocks for software developers. They're indivisible (if they can be functionally split into two they must) and they do one thing really well. They're meant to be used together rather than as solutions in and of themselves. And, we'll build them for maximum developer flexibility. We won't put a bunch of constraints on primitives to guard against developers hurting themselves. Rather, we'll optimize for developer freedom and innovation." Of course, this concept of primitives can be applied to more than software development, but they're especially relevant in technology. And, over the last 20 years, primitives have been at the heart of how we've innovated quickly. One of the many advantages to thinking in primitives is speed. Let me give you two counter examples that illustrate this point. First, we built a successful owned-inventory retail business in the early years at Amazon where we bought all our products from publishers, manufacturers, and distributors, stored them in our warehouses, and shipped them ourselves. Over time, we realized we could add broader selection and lower prices by allowing third-party sellers to list their offerings next to our own on our highly trafficked search and product detail pages. We'd built several core retail services (e.g. payments, search, ordering, browse, item management) that made trying different marketplace concepts simpler than if we didn't have those components. A good set of primitives? Not really. It turns out that these core components were too jumbled together and not partitioned right. We learned this the hard way when we partnered with companies like Target in our Merchant.com business in the early 2000s. The concept was that target.com would use Amazon's ecommerce components as the backbone of its website, and then customize however they wished. To enable this arrangement, we had to deliver those components as separable capabilities through application programming interfaces ("APIs"). This decoupling was far more difficult than anticipated because we'd built so many dependencies between these services as Amazon grew so quickly the first few years. This coupling was further highlighted by a heavyweight mechanism we used to operate called "NPI." Any new initiative requiring work from multiple internal teams had to be reviewed by this NPI cabal where each team would communicate how many people-weeks their work would take. This bottleneck constrained what we accomplished, frustrated the heck out of us, and inspired us to eradicate it by refactoring these ecommerce components into true primitive services with well-documented, stable APIs that enabled our builders to use each other's services without any coordination tax. In the middle of the Target and NPI challenges, we were contemplating building a new set of infrastructure technology services that would allow both Amazon to move more quickly and external developers to build anything they imagined. This set of services became known as AWS, and the above experiences convinced us that we should build a set of primitive services that could be composed together how anybody saw fit. At that time, most technology offerings were very feature-rich, and tried to solve multiple jobs simultaneously. As a result, they often didn't do any one job that well. Our AWS primitive services were designed from the start to be different. They offered important, highly flexible, but focused functionality. For instance, our first major primitive was Amazon Simple Storage Service ("S3") in March 2006 that aimed to provide highly secure object storage, at very high durability and availability, at Internet scale, and very low cost. In other words, be stellar at object storage. When we launched S3, developers were excited, and a bit mystified. It was a very useful primitive service, but they wondered, why just object storage? When we launched Amazon Elastic Compute Cloud ("EC2") in August 2006 and Amazon SimpleDB in 2007, people realized we were building a set of primitive infrastructure services that would allow them to build anything they could imagine, much faster, more cost-effectively, and without having to manage or lay out capital upfront for the datacenter or hardware. As AWS unveiled these building blocks over time (we now have over 240 at builders' disposal—meaningfully more than any other provider), whole companies sprang up quickly on top of AWS (e.g. Airbnb, Dropbox, Instagram, Pinterest, Stripe, etc.), industries reinvented themselves on AWS (e.g. streaming with Netflix, Disney+, Hulu, Max, Fox, Paramount), and even critical government agencies switched to AWS (e.g. CIA, along with several other U.S. Intelligence agencies). But, one of the lesser-recognized beneficiaries was Amazon's own consumer businesses, which innovated at dramatic speed across retail, advertising, devices (e.g. Alexa and FireTV), Prime Video and Music, Amazon Go, Drones, and many other endeavors by leveraging the speed with which AWS let them build. Primitives, done well, rapidly accelerate builders' ability to innovate. So, how do you build the right set of primitives? Pursuing primitives is not a guarantee of success. There are many you could build, and even more ways to combine them. But, a good compass is to pick real customer problems you're trying to solve. Our logistics primitives are an instructive example. In Amazon's early years, we built core capabilities around warehousing items, and then picking, packing, and shipping them quickly and reliably to customers. As we added third-party sellers to our marketplace, they frequently requested being able to use these same logistics capabilities. Because we'd built this initial set of logistics primitives, we were able to introduce Fulfillment by Amazon ("FBA") in 2006, allowing sellers to use Amazon's Fulfillment Network to store items, and then have us pick, pack, and ship them to customers, with the bonus of these products being available for fast, Prime delivery. This service has saved sellers substantial time and money (typically about 70% less expensive than doing themselves), and remains one of our most popular services. As more merchants began to operate their own direct-to-consumer ("DTC") websites, many yearned to still use our fulfillment capabilities, while also accessing our payments and identity primitives to drive higher order conversion on their own websites (as Prime members have already shared this payment and identity information with Amazon). A couple years ago, we launched Buy with Prime to address this customer need. Prime members can check out quickly on DTC websites like they do on Amazon, and receive fast Prime shipping speeds on Buy with Prime items—increasing order conversion for merchants by ~25% vs. their default experience. As our Stores business has grown substantially, and our supply chain become more complex, we've had to develop a slew of capabilities in order to offer customers unmatched selection, at low prices, and with very fast delivery times. We've become adept at getting products from other countries to the U.S., clearing customs, and then shipping to storage facilities. Because we don't have enough space in our shipping fulfillment centers to store all the inventory needed to maintain our desired in-stock levels, we've built a set of lower-cost, upstream warehouses solely optimized for storage (without sophisticated end-user, pick, pack, and ship functions). Having these two pools of inventory has prompted us to build algorithms predicting when we'll run out of inventory in our shipping fulfillment centers and automatically replenishing from these upstream warehouses. And, in the last few years, our scale and available alternatives have forced us to build our own last mile delivery capability (roughly the size of UPS) to affordably serve the number of consumers and sellers wanting to use Amazon. We've solved these customer needs by building additional fulfillment primitives that both serve Amazon consumers better and address external sellers' increasingly complex ecommerce activities. For instance, for sellers needing help importing products, we offer a Global Mile service that leverages our expertise here. To ship inventory from the border (or anywhere domestically) to our storage facilities, we enable sellers to use either our first-party Amazon Freight service or third-party freight partners via our Partnered Carrier Program. To store more inventory at lower cost to ensure higher in-stock rates and shorter delivery times, we've opened our upstream Amazon Warehousing and Distribution facilities to sellers (along with automated replenishment to our shipping fulfillment centers when needed). For those wanting to manage their own shipping, we've started allowing customers to use our last mile delivery network to deliver packages to their end-customers in a service called Amazon Shipping. And, for sellers who wish to use our fulfillment network as a central place to store inventory and ship items to customers regardless of where they ordered, we have a Multi-Channel Fulfillment service. These are all primitives that we've exposed to sellers. Building in primitives meaningfully expands your degrees of freedom. You can keep your primitives to yourself and build compelling features and capabilities on top of them to allow your customers and business to reap the benefits of rapid innovation. You can offer primitives to external customers as paid services (as we have with AWS and our more recent logistics offerings). Or, you can compose these primitives into external, paid applications as we have with FBA, Buy with Prime, or Supply Chain by Amazon (a recently released logistics service that integrates several of our logistics primitives). But, you've got options. You're only constrained by the primitives you've built and your imagination. Take the new, same-day fulfillment facilities in our Stores business. They're located in the largest metro areas around the U.S. (we currently have 58), house our top-moving 100,000 SKUs (but also cover millions of other SKUs that can be injected from nearby fulfillment centers into these same-day facilities), and streamline the time required to go from picking a customer's order to being ready to ship to as little as 11 minutes. These facilities also constitute our lowest cost to serve in the network. The experience has been so positive for customers that we're planning to double the number of these facilities. But, how else might we use this capability if we think of it as a core building block? We have a very large and growing grocery business in organic grocery (with Whole Foods Market) and non-perishable goods (e.g. consumables, canned goods, health and beauty products, etc.). We've been working hard on building a mass, physical store offering (Amazon Fresh) that offers a great perishable experience; however, what if we used our same-day facilities to enable customers to easily add milk, eggs, or other perishable items to any Amazon order and get same day? It might change how people think of splitting up their weekly grocery shopping, and make perishable shopping as convenient as non-perishable shopping already is. Or, take a service that some people have questioned, but that's making substantial progress and we think of as a very valuable future primitive capability—our delivery drones (called Prime Air). Drones will eventually allow us to deliver packages to customers in less than an hour. It won't start off being available for all sizes of packages and in all locations, but we believe it'll be pervasive over time. Think about how the experience of ordering perishable items changes with sub-one-hour delivery? The same is true for Amazon Pharmacy. Need throat lozenges, Advil, an antibiotic, or some other medication? Same-day facilities already deliver many of these items within hours, and that will only get shorter as we launch Prime Air more expansively. Highly flexible building blocks can be composed across businesses and in new combinations that change what's possible for customers. Being intentional about building primitives requires patience. Releasing the first couple primitive services can sometimes feel random to customers (or the public at large) before we've unveiled how these building blocks come together. I've mentioned AWS and S3 as an example, but our Health offering is another. In the last 10 years, we've tried several Health experiments across various teams—but they were not driven by our primitives approach. This changed in 2022 when we applied our primitives thinking to the enormous global healthcare problem and opportunity. We've now created several important building blocks to help transform the customer health experience: Acute Care (via Amazon Clinic), Primary Care (via One Medical), and a Pharmacy service to buy whatever medication a patient may need. Because of our growing success, Amazon customers are now asking us to help them with all kinds of wellness and nutrition opportunities—which can be partially unlocked with some of our existing grocery building blocks, including Whole Foods Market or Amazon Fresh. As a builder, it's hard to wait for these building blocks to be built versus just combining a bunch of components together to solve a specific problem. The latter can be faster, but almost always slows you down in the future. We've seen this temptation in our robotics efforts in our fulfillment network. There are dozens of processes we seek to automate to improve safety, productivity, and cost. Some of the biggest opportunities require invention in domains such as storage automation, manipulation, sortation, mobility of large cages across long distances, and automatic identification of items. Many teams would skip right to the complex solution, baking in "just enough" of these disciplines to make a concerted solution work, but which doesn't solve much more, can't easily be evolved as new requirements emerge, and that can't be reused for other initiatives needing many of the same components. However, when you think in primitives, like our Robotics team does, you prioritize the building blocks, picking important initiatives that can benefit from each of these primitives, but which build the tool chest to compose more freely (and quickly) for future and complex needs. Our Robotics team has built primitives in each of the above domains that will be lynchpins in our next set of automation, which includes multi-floor storage, trailer loading and unloading, large pallet mobility, and more flexible sortation across our outbound processes (including in vehicles). The team is also building a set of foundation AI models to better identify products in complex environments, optimize the movement of our growing robotic fleet, and better manage the bottlenecks in our facilities. Sometimes, people ask us "what's your next pillar? You have Marketplace, Prime, and AWS, what's next?" This, of course, is a thought-provoking question. However, a question people never ask, and might be even more interesting is what's the next set of primitives you're building that enables breakthrough customer experiences? If you asked me today, I'd lead with Generative AI ("GenAI"). Much of the early public attention has focused on GenAI applications, with the remarkable 2022 launch of ChatGPT. But, to our "primitive" way of thinking, there are three distinct layers in the GenAI stack, each of which is gigantic, and each of which we're deeply investing. The bottom layer is for developers and companies wanting to build foundation models ("FMs"). The primary primitives are the compute required to train models and generate inferences (or predictions), and the software that makes it easier to build these models. Starting with compute, the key is the chip inside it. To date, virtually all the leading FMs have been trained on Nvidia chips, and we continue to offer the broadest collection of Nvidia instances of any provider. That said, supply has been scarce and cost remains an issue as customers scale their models and applications. Customers have asked us to push the envelope on price-performance for AI chips, just as we have with Graviton for generalized CPU chips. As a result, we've built custom AI training chips (named Trainium) and inference chips (named Inferentia). In 2023, we announced second versions of our Trainium and Inferentia chips, which are both meaningfully more price-performant than their first versions and other alternatives. This past fall, leading FM-maker, Anthropic, announced it would use Trainium and Inferentia to build, train, and deploy its future FMs. We already have several customers using our AI chips, including Anthropic, Airbnb, Hugging Face, Qualtrics, Ricoh, and Snap. Customers building their own FM must tackle several challenges in getting a model into production. Getting data organized and fine-tuned, building scalable and efficient training infrastructure, and then deploying models at scale in a low latency, cost-efficient manner is hard. It's why we've built Amazon SageMaker, a managed, end-to-end service that's been a game changer for developers in preparing their data for AI, managing experiments, training models faster (e.g. Perplexity AI trains models 40% faster in SageMaker), lowering inference latency (e.g. Workday has reduced inference latency by 80% with SageMaker), and improving developer productivity (e.g. NatWest reduced its time-to-value for AI from 12-18 months to under seven months using SageMaker). The middle layer is for customers seeking to leverage an existing FM, customize it with their own data, and leverage a leading cloud provider's security and features to build a GenAI application—all as a managed service. Amazon Bedrock invented this layer and provides customers with the easiest way to build and scale GenAI applications with the broadest selection of first- and third-party FMs, as well as leading ease-of-use capabilities that allow GenAI builders to get higher quality model outputs more quickly. Bedrock is off to a very strong start with tens of thousands of active customers after just a few months. The team continues to iterate rapidly on Bedrock, recently delivering Guardrails (to safeguard what questions applications will answer), Knowledge Bases (to expand models' knowledge base with Retrieval Augmented Generation—or RAG—and real-time queries), Agents (to complete multi-step tasks), and Fine-Tuning (to keep teaching and refining models), all of which improve customers' application quality. We also just added new models from Anthropic (their newly-released Claude 3 is the best performing large language model in the world), Meta (with Llama 2), Mistral, Stability AI, Cohere, and our own Amazon Titan family of FMs. What customers have learned at this early stage of GenAI is that there's meaningful iteration required to build a production GenAI application with the requisite enterprise quality at the cost and latency needed. Customers don't want only one model. They want access to various models and model sizes for different types of applications. Customers want a service that makes this experimenting and iterating simple, and this is what Bedrock does, which is why customers are so excited about it. Customers using Bedrock already include ADP, Amdocs, Bridgewater Associates, Broadridge, Clariant, Dana-Farber Cancer Institute, Delta Air Lines, Druva, Genesys, Genomics England, GoDaddy, Intuit, KT, Lonely Planet, LexisNexis, Netsmart, Perplexity AI, Pfizer, PGA TOUR, Ricoh, Rocket Companies, and Siemens. The top layer of this stack is the application layer. We're building a substantial number of GenAI applications across every Amazon consumer business. These range from Rufus (our new, AI-powered shopping assistant), to an even more intelligent and capable Alexa, to advertising capabilities (making it simple with natural language prompts to generate, customize, and edit high-quality images, advertising copy, and videos), to customer and seller service productivity apps, to dozens of others. We're also building several apps in AWS, including arguably the most compelling early GenAI use case—a coding companion. We recently launched Amazon Q, an expert on AWS that writes, debugs, tests, and implements code, while also doing transformations (like moving from an old version of Java to a new one), and querying customers' various data repositories (e.g. Intranets, wikis, Salesforce, Amazon S3, ServiceNow, Slack, Atlassian, etc.) to answer questions, summarize data, carry on coherent conversation, and take action. Q is the most capable work assistant available today and evolving fast. While we're building a substantial number of GenAI applications ourselves, the vast majority will ultimately be built by other companies. However, what we're building in AWS is not just a compelling app or foundation model. These AWS services, at all three layers of the stack, comprise a set of primitives that democratize this next seminal phase of AI, and will empower internal and external builders to transform virtually every customer experience that we know (and invent altogether new ones as well). We're optimistic that much of this world-changing AI will be built on top of AWS. (By the way, don't underestimate the importance of security in GenAI. Customers' AI models contain some of their most sensitive data. AWS and its partners offer the strongest security capabilities and track record in the world; and as a result, more and more customers want to run their GenAI on AWS.) === Recently, I was asked a provocative question—how does Amazon remain resilient? While simple in its wording, it's profound because it gets to the heart of our success to date as well as for the future. The answer lies in our discipline around deeply held principles: 1/ hiring builders who are motivated to continually improve and expand what's possible; 2/ solving real customer challenges, rather than what we think may be interesting technology; 3/ building in primitives so that we can innovate and experiment at the highest rate; 4/ not wasting time trying to fight gravity (spoiler alert: you always lose)—when we discover technology that enables better customer experiences, we embrace it; 5/ accepting and learning from failed experiments—actually becoming more energized to try again, with new knowledge to employ. Today, we continue to operate in times of unprecedented change that come with unusual opportunities for growth across the areas in which we operate. For instance, while we have a nearly $500B consumer business, about 80% of the worldwide retail market segment still resides in physical stores. Similarly, with a cloud computing business at nearly a $100B revenue run rate, more than 85% of the global IT spend is still on-premises. These businesses will keep shifting online and into the cloud. In Media and Advertising, content will continue to migrate from linear formats to streaming. Globally, hundreds of millions of people who don't have adequate broadband access will gain that connectivity in the next few years. Last but certainly not least, Generative AI may be the largest technology transformation since the cloud (which itself, is still in the early stages), and perhaps since the Internet. Unlike the mass modernization of on-premises infrastructure to the cloud, where there's work required to migrate, this GenAI revolution will be built from the start on top of the cloud. The amount of societal and business benefit from the solutions that will be possible will astound us all. There has never been a time in Amazon's history where we've felt there is so much opportunity to make our customers' lives better and easier. We're incredibly excited about what's possible, focused on inventing the future, and look forward to working together to make it so. Sincerely, Andy Jassy President and Chief Executive Officer Amazon.com, Inc. P.S. As we have always done, our original 1997 Shareholder Letter follows. What's written there is as true today as it was in 1997.

https://www.cnbc.com/id/28557654

BR

Broadridge Financial Solutions

Stock Picker: Small Caps, Big Deal

David Sowerby is big on small-caps. The chief portfolio manager at Loomis Sayles says they've been outperforming the S&P 500 since the market bottomed last fall, and he has some appropriate names for investors to consider now. "Off the November 20th lows, the S&P 500 is still up 21 percent, but the average stock in the S&P 500 is up 29 percent; small-cap stocks are up better than 30 percent," he told CNBC. "I think that sets the great backdrop for active investors, beating the benchmarks this year, where they had a tougher year in `08." Recommendations: Since Sowerby recommended it last year, Duff & Phelps shares are up 65 percent. What's on his mind now? "Duff & Phelps fits the profile continuing in 2009, which is, lean to the smaller side in stocks, mid-cap, small-cap," he said. "Names like Broadridge (Financial Solutions) , Interactive Data, Perrigo."

https://www.cnbc.com/id/26015143

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Broadridge Financial Solutions

Major Yahoo Shareholder Wants Vote Probe

Yang has been under pressure for months over failed negotiations to sell the company to Microsoft and regarding questions about his leadership, but Friday's shareholder vote suggested the tide was turning in his favor. News of questions over the vote was first reported by the D: All Things Digital blog. AllThingsD cited unnamed sources saying two major Capital Research and Management funds holding about 16 percent of Yahoo shares had recommended withholding their votes in favor of Yang in protest over his performance. Capital Research Global Investors, the fund group led by portfolio manager Gordon Crawford, was more strongly opposed to Yang than its sister fund, Capital World Investors, which was less critical, according to sources quoted by AllThingsD. Yang received 85.4 percent support in the results announced on Friday, with the remaining votes withheld in protest. "I guess Jerry Yang didn't come out of the meeting as unscathed as it seemed," Canaccord Adams analyst Colin Gillis said of the uncertainty raised by calls for a recount. Investors holding nearly 76 percent of Yahoo's 1.38 billion shares gave solid support for all nine board directors, with the lowest level of support for long-time board member Arthur Kern, who drew 77.9 percent. Sanford C. Bernstein analyst Jeffrey Lindsay said informal polling his firm had done among major investors showed widespread dissatisfaction with Yahoo's handling of talks with Microsoft, which the broker expected to translate into a more substantial number of withheld votes for directors. "We were surprised at the very high vote counts that were pro Jerry Yang," Lindsay said. "Certainly the final results seemed very different from the exit polls." Yahoo said in a statement it was not party to any errors that may have been made in the voting process. "The independent inspector of elections certified the results of the election and Yahoo accurately announced those results," the company said in an e-mailed statement. But Yahoo left open the possibility that some intermediary may have made a mistake. "Yahoo did not participate in the execution of the votes and was not a party to any errors which may have been made either by a voting institution or a proxy processing intermediary acting on behalf of banks, brokers and institutions," it said. Crawford, whose Capital Research Global Investors owned 6.2 percent of Yahoo as of early June, said in May he was "extremely angry" at Yang over the breakdown of talks with Microsoft. Capital World Investors held 9.8 percent of Yahoo shares, according to recent regulatory filings. A Capital Group spokesman said the Crawford-run fund had inquired with Broadridge Financial Solutions , a financial services intermediary that handles proxy processing services for it. "Capital Research Global Investors asked Broadridge Financial to double-check the votes it transmitted to Yahoo on its behalf," said Chuck Freadhoff, a spokesman for the Capital Group and its affiliates. The spokesman declined to comment on how Capital-affiliated funds had cast their votes. Broadridge declined to comment. Gillis at Canaccord Adams said a somewhat lower vote was unlikely to materially weaken Yang's position, which looks secure unless Yahoo's third-quarter results fall short amid a worsening economy or if the stock remains stuck around $20 in the months to come. "I think Jerry (Yang) is still firmly in place until some deviation happens from the plan Yahoo has set forth," he said.

https://www.cnbc.com/id/25828032

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Broadridge Financial Solutions

Building a Portfolio With Pulte (!)

So does he think that the housing sector is finally at the bottom? "Close enough that the market has discounted it in the price of these beaten-up, subprime-toxic, cyclical stocks, and that makes a small entry into Pulte the right call," he said. And where among the spotty tech companies would he put an investor's money? "Two tech companies I like, very different companies," he said. "Broadridge (Financial Solutions), which is a higher-quality, less-sexy tech name; they do securities processing; (and) Apple, a much better-known name." He concedes "some concern over the September revenue and margin guidance, but over the years, you've learned with Apple that when it has a bit of a setback, it's a good time to be wading in." ___________________________________________ CNBC.com Video Reports: - Best Trades Now: Tech, Utilities, Financials & More ___________________________________________ Disclosures : Disclosure information for David Sowerby was not immediately available. Disclaimer

https://www.cnbc.com/2023/02/23/michael-b-jordan-talks-financial-literacy-at-hbcu-basketball-classic.html

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Broadridge Financial Solutions

Michael B. Jordan says 'life' taught him how to manage money—he wants better for the next generation

Michael B. Jordan says the biggest lessons he's learned about money management came from "life." However, he wonders where he would be if he had been taught more about money when he was younger. "I imagine how much more I would have and the better place I'd be in today if I had that kind of knowledge at an early age and knowing how to take care of your money," he tells CNBC Make It. That's one reason he's aiming to help Black students and student athletes gain access to financial literacy education early. The actor, director and producer partnered with Invesco QQQ to create the Invesco QQQ Legacy Classic, a men's college basketball showcase featuring Historically Black College and University (HBCU) student athletes, broadcast nationally on TNT. For its second year, the event was held on Feb. 4 at Prudential Center in Newark, New Jersey, where Jordan grew up. Getting young people excited about learning how to smartly manage their money was at the heart of the event — and Jordan's mission. "There are a lot of things out there telling them to spend their money on this or that," he says. "So having another system in place to help them start thinking differently about their money is important."

https://www.cnbc.com/2023/02/13/financial-stability-relies-on-student-debt-forgiveness-borrowers-say.html

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Broadridge Financial Solutions

53% of student loan borrowers say their financial stability relies on debt forgiveness

The Supreme Court will hear oral arguments at the end of this month ahead of its final decision on President Joe Biden's plan to forgive up to $20,000 in student debt for federal loan borrowers. Legal scholars and court experts have varying opinions on how the justices will handle the two lawsuits blocking Biden's plan, but the majority of borrowers are sure of one thing: Their debt is standing between them and financial wellbeing. In fact, 53% of federal student loan borrowers say their financial stability relies on their loans being forgiven, according to a recent Credit Karma survey of 1,009 adults in the U.S. The summer will be here before you know it and with it, the return of student loan payments on or around June 30. But for struggling borrowers, adding those payments back into their budget won't be easy. Payment pause has been a reprieve, not a long-term solution Next month marks three years since federal student loan borrowers were last required to make a payment on their loans, thanks to the pandemic forbearance that began under former President Donald Trump. Borrowers who were able to stay on top of payments had a choice to continue making payments to expedite their debt payoff or take advantage of the pause and use the funds they would have put toward their debt for other things. Some borrowers were able to have weddings, start a business or achieve other financial goals. For the most part, borrowers say the payment pause has allowed them to feel more secure about their money, but that security may end when payments resume. Over half (56%) of survey respondents say their financial stability relies on not being required to make payments. While they might be more financially stable, more than 1 in 4 borrowers say they haven't been able to save while payments have been paused because the money they would have paid on their student loans is now going to other necessities. With or without student debt, the last year has been financially difficult for many Americans as record-high inflation sent prices up on nearly everything from rent to eggs. Nearly 70% of respondents say their finances stayed the same or declined since last year, Credit Karma reports. A recent Gallup poll found similar results: Half of Americans report their finances are worse off now compared to a year ago. What comes next for borrowers

https://www.cnbc.com/2024/01/05/ritholtzs-josh-brown-stock-picks-shares-twice-as-cheap-as-the-sp-500.html

BRO

Brown & Brown

'Twice as cheap': These stocks' discount to the S&P 500 is double its average, Ritholtz’s Brown says

Overseas stocks are significantly undervalued compared to the U.S. stock market and present an opportunity for investors in 2024, according to Ritholtz's Josh Brown. The Ritholtz Wealth Management chief executive pointed out that the MSCI All-Country World Index ex-U.S. is currently trading at a 34% discount relative to the S & P 500 index of large U.S. stocks. Over the past 20 years, the average discount has been 16%, Brown added. "I'm telling you, overseas developed market stocks are twice as cheap as they have been over the last two decades," Brown told CNBC's "Closing Bell" on Wednesday. "There were some huge gains in different markets last year that not a lot of people were predicting." Investors can access the index, which tracks stocks in 22 developed and 24 emerging markets, through the iShares MSCI ACWI ex-U.S. ETF . The fund had a total return of 20% in 2023, compared to 26% for the S & P 500. The MSCI index is currently priced at 12.8 times earnings, compared to the S & P 500's 20 times, according to Morningstar data. ACWX 1Y line Brown acknowledged concerns about lower growth rates and geopolitical issues abroad, which is a factor behind the lower valuation multiple compared to U.S. markets. "Yes, there are some good reasons. Yes, geopolitics. I'll take all of that," he said. Yet Brown, who co-founded Ritholtz in 2011, believes overseas stocks could still outperform if central banks cut interest rates. "I'll still tell you that if we're going into a rate-cutting cycle, even if it's a modest one, these stocks can work and you're taking less risk because [their] starting valuation is not just a little bit cheaper, it's a multi-decade level of discount that you're getting," Brown stated. He said investors could target high-quality companies in developed countries like Japan and Europe. "You don't have to buy low quality," Brown added. "You could buy overseas high quality in Japan, Europe and you could win." In Brown's view, there was "no reason" to believe investment in non-U.S. stocks won't perform in 2024 as well as they did in 2023. Correction: This article has been updated to reflect that Ritholtz's Josh Brown said global stocks' discount to the S & P 500 is double its historic average.

https://www.cnbc.com/2023/12/14/josh-brown-says-this-catch-up-trade-into-year-end-still-has-room-to-run.html

BRO

Brown & Brown

Josh Brown says this catch-up trade into year-end still has room to run

Small-cap value companies are the most attractive in the market right now, according to Josh Brown, CEO of Ritholtz Wealth Management. "I think the next leg of the rally didn't wait for this pivot. I think it front-ran it," Brown told CNBC's "Halftime Report" on Thursday, pointing to the iShares Russell 2000 Value ETF (IWN) as his favorite bet for the year-end rally. "This is the place to be." Small caps have lagged this year. The Russell 2000 itself is up 13% year to date, and the IWN has climbed 11% during that time. The S & P 500, meanwhile, is up nearly 23% in 2023. That said, the smaller names have gotten a boost recently. These companies are often more affected by economic changes, including recessions. The IWN has popped 11.4% this month and more than 14% this quarter. The Russell 2000 has gained 10.8% in December, while the S & P SmallCap 600 index is up 11.4% this month. Both the Russell and S & P small-cap indexes substantially outperformed the broader market on Thursday, soaring more than 2%. IWN mountain 2023-11-30 IWN in past month The recent gains on the IWN are "ridiculous until you realize how much catch-up it has to play just to get anywhere close to what large-cap S & P 500 names did," Brown said. By comparison, the S & P 500 has advanced 23.2% this year, while the Russell has added 13.7%. Looking at the stocks reaching their 52-week highs on Thursday, which include Blackstone , Lennar , PulteGroup , JPMorgan and Chipotle Mexican Grill , Brown pointed out that most are not large-cap tech names. "None of those companies do AI. …That's the message," Brown said. "The catch-up trade is working. I think it's got room to continue to work." Tech-related names Apple and Intel did reach a fresh 52-week high on Thursday. Wall Street is coming off a broad rally after the Federal Reserve indicated it could cut interest rates three times in 2024. The Dow Jones Industrial Average hit a record, while Treasury yields fell to their lowest levels in months.

https://www.cnbc.com/2015/03/20/first-family-of-bourbon-returns-to-revive-its-original-brand.html

BF.B

Brown–Forman

First family of bourbon returns to revive its original brand

For the first time since Woodrow Wilson was president, a member of the Brown family (as in spirits giant Brown-Forman ) will be responsible for the Old Forester brand. Campbell Brown is the great-great grandson of George Garvin Brown, the founder of Brown-Forman. The company says the Brown family is getting behind the lagging brand, emotionally and financially. The family already controls 70 percent of Brown-Forman. Brown-Forman is investing $50 million in the brand. That includes a marketing push as well as a new distillery being built on Louisville's "Whiskey Row" at the original site of Old Forester and, last year, it released a new series of Old Forester Whiskey Row bourbons using the original recipe created in the 1870s. In a major coup for the brand, the official drink of this year's Kentucky Derby will be the Old Forester Mint Julep. Previously the signature cocktail at Churchill Downs on Derby Day was made with Early Times—another Brown-Forman product. Campbell Brown will become the president of the Old Forester brand beginning May 1, one day before the Kentucky Derby. Read More Nice work if you can get it: Get paid to test bourbon While Brown-Forman is pouring a lot into the revitalization of its founding brand, there is a lot of ground to cover. Twenty-five years ago, Old Forester was a million-case-per-year brand. Last year, it sold just 112,000 cases with half the volume in Kentucky and Alabama. Compare that to the company's Jack Daniels 2014 production output of 11.5 million cases and its Woodford Reserve output of 300,000 cases. Sales of Jack Daniels have grown 35 percent over the past decade. Brown-Forman wants Old Forester to catch up. The challenge is that it doesn't have the same cachet. Overall the more affordable "value" brands are under selling. Sales of so-called super premium brands have grown 124 percent since 2009. In the same period high-end premium has grown by 28 percent, premium by 26 percent and value by only 12 percent, according to the Distilled Spirits Council of the United States.

https://www.cnbc.com/2023/09/11/mondays-top-wall-street-analyst-calls-include-tesla-nvidia.html

BF.B

Brown–Forman

Here are Monday's biggest analyst calls: Tesla, Apple, Nvidia, Amazon, Microsoft, Block, Netflix & more

Here are the biggest calls on Wall Street on Monday: Morgan Stanley upgrades Tesla to overweight from equal weight Morgan Stanley said in its upgrade of Tesla that Dojo, Tesla's custom supercomputing effort, is a key catalyst. "Investors have long debated whether Tesla is an auto company or a tech company. We believe it's both, but see the biggest value driver from here being software and services revenue." Read more about this call here. JPMorgan upgrades Tenable to overweight from neutral JPMorgan said the security software solutions company is "well positioned for better fundamentals." "We see an attractive opportunity for better growth, margin expansion, and [free cash flow] moving through the back half of the year into FY24 for TENB. " JPMorgan upgrades Nubank to overweight from neutral JPMorgan said it sees an attractive entry point for the Brazilian neobank company. "We upgrade Nubank (Nu) to OW as we get more confident on its secular winning strategy and we see recent share price correction as a good entry point." Bank of America upgrades CSX to buy from neutral Bank of America said in its upgrade of the railroad company that it sees volume improvement. "While volumes have remained soft for the rail industry, down mid-single digits quarter-to-date, and negative for 30 consecutive weeks, CSX is trending -3.4% for 3Q-to-date, ahead of our -4.6% target." JPMorgan downgrades Brunswick to neutral from overweight JPMorgan said higher interest rates will weight on the marine recreation company in the months ahead. "Near-term over the next 12 months, we see the primary factor weighing on new boat demand as higher interest rates w/ Boat borrowing rates at +9% surpassing mortgage rates for the first time over two decades by our work (~60% historical inverse correlation with BC retail unit growth)." Bank of America reiterates Nvidia as a top pick Bank of America said Nvidia shares remain "compelling" at current levels. " NVDA's compressed valuation already reflects investor concerns about sustainability of genAI capex, geopolitical concerns and (overstated) competitive risks from AMD/INTC esp. as genAI deployments move to lower-cost inference from high-cost training that NVDA dominates." Barclays initiates Bluebird as overweight Barclays said in its initiation of the school bus company that it has accelerating fundamentals "We initiate BLBD at Overweight as backlogs are high and public support for school bus investment is strong." UBS reiterates Amazon as buy UBS said it sees margin expansion for the streaming giant. "We think Amazon can see North America retail margins expand to double digits over time (vs consensus of 5.4% in '25) as the company: 1) unveils efficiency drives like regionalizing its fulfillment network, 2) pulls levers to recoup cost inflation." Bank of America initiates Raymond James as buy Bank of America said the financial services company is well positioned and has a defensive portfolio. " RJF has one of the most diversified gross-profit driven business models under our coverage and is positioned well to handle future macro scenarios versus many of its interest-rate dependent peers." Read more about this call here. Evercore ISI reiterates Netflix as outperform Evercore said its latest survey checks show Netflix has "competitive advantages" in international markets. "Mexico's 'Core' trends remain intrinsically strong, but we think the real learning here is that Netflix may well enjoy greater competitive advantages in international markets due to relatively weaker in-home entertainment options – leading to higher Satisfaction levels and lower Churn rates." Redburn Atlantic reiterates Disney as sell Redburn said it sees too many negative catalysts ahead for Disney. "Compounding slowing traction in its direct-to-consumer business, Disney now faces additional challenges as its carriage dispute with Charter has the potential to shave 18% off OI [operating income] if unresolved. With linear advertising also at a negative tipping point, CEO Bob Iger faces a host of challenges." Deutsche Bank upgrades Kenvue to buy from hold Deutsche says shares of the Johnson & Johnson spinoff company are attractive. "We are upgrading KVUE to Buy, seeing the stock as oversold. While certain fundamental uncertainties and legal liability risks (talc, acetaminophen) outlined in our initiation report are still valid and outstanding, they are now more than adequately discounted in current valuation." Read more about this call here . Jefferies initiates SharkNinja as buy Jefferies said the product and design tech company has "high margins and a massive total addressable market." "We believe SN is well positioned to grow its market share across new and existing categories given its global rapid innovation and commercialization flywheel model." Bernstein upgrades Brown-Forman to outperform from market perform Bernstein said it sees a "constructive margin outlook" for the beverage maker. "Through M & A, Brown-Forman has quietly changed its exposure to growth for the better: it's now more premium and more exposed to high-growth categories and geographies." Citi adds a positive catalyst watch on Microsoft Citi said it sees a "rich catalyst path" ahead for Microsoft shares. "We are opening a positive 90 day catalyst watch on MSFT as we see shares trading higher into year end with a rich catalyst path ahead. After a strong YTD move thru June, Microsoft has lagged on a relative basis post July-Q earnings." Baird names Block as a fresh pick Baird says investors should buy the dip in shares of the company formerly known as Square. "We understand investors' concerns about Thursday's processing issue, but believe the system to be back up and running, and view the stock as oversold at < 3.5X 2024E revenue, around the lowest of our fintech coverage." Read more about this call here . Barclays reiterates Apple as equal weight Barclays says it's bullish heading into Apple's iPhone event on Tuesday, but that it's standing by its equal weight rating. "We believe key to watch this year will be any impact on demand from price increases for Pro models. We think there will be headwinds to units as Pro model ASPs [average selling price]are set to increase against the weaker macro backdrop. We will also be watching carrier incentives closely."

https://www.cnbc.com/2014/08/27/jack-daniels-maker-warns-of-russian-scrutiny.html

BF.B

Brown–Forman

Jack Daniel's maker warns of Russian scrutiny

The maker of Jack Daniel's whisky has warned that "iconic American brands" are facing increased scrutiny in Russia as the crisis over the future of Ukraine intensifies. Brown-Forman , the US company behind Jack Daniel's, said on Wednesday that: The geopolitical environment remains fragile, particularly in Russia, where iconic American brands are experiencing increased scrutiny, including some of Brown-Forman's brands. The comments from the spirits maker, which were included in its latest results, come less than a week after a regional branch of Russia's consumer agency, Rospotrebnadzor, announced it had found "chemical substances" in Jack Daniel's Tennessee Honey Liqueur. Brown-Forman said then that it "vehemently" denied the "presence of harmful substances in any of our products." The liquor company is not the only US brand to have faced recent complaints from Rospotrebnadzor. Last week, the agency said it would temporarily shut four McDonald's restaurants after tests revealed "numerous violations against [Russia's] sanitary legislation."

https://www.cnbc.com/2023/08/23/here-are-13-stocks-jim-cramer-is-watching-including-a-big-retailer-earnings-winner.html

BF.B

Brown–Forman

Here are 13 stocks Jim Cramer is watching, including a big retailer earnings winner

Here are some of the tickers on my radar for Wednesday, Aug. 23, taken directly from my reporter's notebook: 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/2023/08/28/5-things-to-know-before-the-stock-market-opens-monday-august-28.html

BF.B

Brown–Forman

5 things to know before the stock market opens Monday

watch now Here are the most important news items that investors need to start their trading day: 1. New week, new data Stock futures were slightly higher on Monday to kick off the last week of August. Dow Jones Industrial Average futures were up 83 points, or about 0.2%, while S&P 500 futures and Nasdaq-100 futures rose 0.2% and 0.3%, respectively. Stocks are coming off a winning session, as the major indexes rose Friday following Fed Chair Jerome Powell's speech in Jackson Hole, Wyoming. In his remarks, Powell said the central bank had seen signs of progress, but warned that inflation remains "too high" and that the Fed is "prepared to raise rates further if appropriate." This week, investors will be looking ahead to more economic data that could give an indication of the Fed's next move, with the monthly jobs report set to be released on Friday. Follow live market updates. 2. Earnings ahead A Salesforce corporate logo sign hangs outside their office building in New York City. Gary Hershorn | Corbis News | Getty Images 3. Going public A shopper for Instacart studies her smart phone as she shops for a customer at Whole Foods in Denver. Cyrus McCrimmon | Denver Post | Getty Images Tech investors rejoice: The IPO freeze is over. The last major initial public offering for a venture-backed tech company came 20 months ago, leaving many to wonder which buzzy name would be the first to leap into the public markets. An answer finally came Friday, when grocery delivery startup Instacart and data and marketing automation company Klaviyo filed for stock market debuts. Earlier last week, Arm, the chip designer owned by Japan's SoftBank, filed for a Nasdaq listing. CNBC's Ari Levy reports that the three IPOs will be a test to see how investors feel. If they're successful launches, they could inspire more companies to go public. 4. Not so grand The Evergrande Group headquarters building in Shenzhen is pictured on January 11, 2022 in Shenzhen, Guangdong Province of China. China Evergrande Group founder Hui Ka Yan will be barred from the securities market for life and fined 47 million yuan ($6.53 million) after the regulator accused the group's flagship unit of inflating results, securities fraud and failing to make timely disclosures. Liang Xiashun | Visual China Group | Getty Images Shares of China Evergrande Group, the world's most indebted property developer, plunged Monday, as it traded for the first time since March 21, 2022. The stock fell as much as 87% on its open. The beleaguered company filed for Chapter 15 bankruptcy in the United States in July, which will protect its U.S. assets from creditors while it works out a restructuring deal. That move came after Evergrande defaulted in 2021 and announced an offshore debt restructuring program in March. The developer has struggled to finish projects and repay suppliers and lenders. 5. The meme goes on A customer walks up to a closed Bed Bath and Beyond store on February 08, 2023 in Larkspur, California. Justin Sullivan | Getty Images

https://www.cnbc.com/2023/06/13/actor-treat-williams-dies-at-71-after-motorcycle-accident.html

BF.B

Brown–Forman

Actor Treat Williams dies at 71 after motorcycle accident

Treat Williams, a star of stage, television and film, has died in a motorcycle accident, his family said Monday evening. He was 71. "It is with great sadness that we report that our beloved Treat Williams has passed away tonight in Dorset, Vermont after a fatal motorcycle accident," his family said in a statement. "As you can imagine, we are shocked and greatly bereaved at this time." Vermont State Police said in a statement that Williams was critically injured in Dorset about 4:53 p.m. Monday when a Honda SUV turned in front of him, ending in a collision that threw Williams from his 1986 Honda motorcycle. He was taken to Albany Medical Center in Albany, New York, where he was pronounced dead, state police said. The driver of the SUV, who was uninjured, was not cited; an investigation into the collision was ongoing, police said. Williams recently guest starred in HBO's "We Own This City," a drama about corruption in Baltimore that was aired and streamed this spring. In 2016, he played the title character in the theatrical and streaming release of "The Congressman." He developed as an actor's actor by starting as an understudy for the Broadway hit "Grease" in the 1970s before he took the lead role as Danny Zuko. But his real breakthrough was as director Miloš Forman's hippie character George Berger in a defining film of the counterculture, "Hair," in 1979. That opened the door to roles in countless films, including Steven Spielberg's "1941," Sidney Lumet's "Prince of the City," Sergio Leone's "Once Upon a Time in America" and John Erman's adaptation of Tennessee Williams' classic "A Streetcar Named Desire." In his television career, Williams had roles on "Law & Order," "Blue Bloods" and other shows, often as a benevolent-seeming patriarch with just a hint of corruption beneath the surface. More recently he portrayed Dr. Andrew Brown in the WB series "Everwood" and Brian Grabler, a retired Baltimore police detective, in "We Own This City." In the latter series, he teaches at the police academy and, according to HBO's news release, "recognizes much of what has gone wrong" with the city's force. Williams was born in Rowayton, Connecticut, to Marian and Richard Norman Williams, according to his IMDb bio. He went from prep school to Pennsylvania's Franklin and Marshall College, where he dived into the world of stage and screen. His summers were spent immersed in stage classics at Fulton Theatre in Lancaster, the bio says. Williams' later success meant free time could be spent flying, and he became a licensed pilot and instructor. In their statement, his family said his loved ones were "beyond devastated." "Treat was full of love for his family, for his life and for his craft, and was truly at the top of his game in all of it," the family said. "It is all so shocking right now, but please know that Treat was dearly and deeply loved and respected by his family and everyone who knew him." Former Baltimore Sun journalist David Simon, the creator of "We Own This City," said he was honored when Williams signed on to the show. "After years of cop reporting, 'Prince Of The City' was the only film that made me believe anyone else knew the truth about the drug war," he tweeted. "So honored when Treat Williams signed on to deliver our own, later critique of the disaster. RIP to a legendary actor and a fine, gracious man." Williams rejoiced in his earliest film work, saying in a 2011 interview with A.V. Club that "Hair" was "the greatest film experience of my life." "It was just really, really fun," he said. "I loved John Savage and Beverly D'Angelo, and Milos Forman is one of the great filmmakers of all time. That was really an honor to be a part of." He is survived by his wife, Pam Van Sant, and their children, Gill Williams and Elinor Williams.

https://www.cnbc.com/2023/08/23/wednesdays-biggest-analyst-calls-on-wall-street-like-apple.html

BF.B

Brown–Forman

Here are Wednesday's biggest analyst calls: Netflix, Apple, Dick's, Meta, Amazon, Charles Schwab and more

Here are Wednesday's biggest calls on Wall Street: Deutsche Bank reiterates Charles Schwab as buy Deutsche Bank said it sees an even "more" attractive risk/reward for Charles Schwab shares after Tuesday's sell-off. "On Tuesday, SCHW shares dropped nearly 5% (as of this writing) vs. a ~2% drop in the BKX banking index and a slight drop in the S & P 500." Read more about this call here. Wells Fargo reiterates Signet as overweight Wells Fargo said investors should buy the dip in shares of the jewelry company. "We raise FY numbers and are buyers of SIG ahead of next week's 2Q EPS print as we see a catalyst-rich path to getting paid over the next several months. Most notably, we are NOT concerned with recent credit fears that have surrounded the stock." Morgan Stanley reiterates Apple as overweight Morgan Stanley said Apple has "surpassed MSFT as the most under-owned large-cap tech stock exiting the second-quarter." "However, AAPL is now the most under-owned large cap tech stock we track, while META saw its ownership gap vs. the S & P widen more than any large cap peer in 2Q." Oppenheimer reiterates Netflix as outperform Oppenheimer said it's standing by its outperform rating on shares of Netflix and that the bear case has been "derisked." "Our analysis indicates a clear path back to double-digit revenue growth, which should support ~25x PE." Morgan Stanley upgrades Brown-Forman to overweight from underweight Morgan Stanley said the spirits and beverage giant's stock's valuation is "compelling." "We are double upgrading BFb from Underweight to Overweight, with GM headwinds likely to turn to a tailwind, reduced concerns over earlier US spirits industry softness, and a compelling relative valuation." Read more about this call here. Loop reiterates Amazon as a top pick Loop raised its price target on Amazon to $200 per share from $180 and said the "retail margin story has legs." "The retail margin recovery is playing out with meaningful headroom." Edward Jones upgrades Dollar General to buy from hold Edward Jones said the dollar retailer has "attractive fundamentals." "We are upgrading shares of Dollar General to a Buy from a Hold and adding shares to the Edward Jones Stock Focus List." Bank of America reiterates Meta as buy Bank of America said it sees more upside for shares of Meta. "We believe the stock could see renewed enthusiasm on 2024 upside potential once Street has greater certainty on 2024 spending targets." Barclays initiates Duke Energy as overweight Barclays said the energy company is well-positioned. " DUK is nearing a transition out of the unregulated renewable generation and refocusing on core regulated growth, while executing on a large capex plan of $65bn over 5 years." Bank of America reiterates Five Below as buy Bank of America said it's standing by shares of the discount retailer. "Given FIVE' s potential for a comp reacceleration in 2H, long-term store growth potential, and recession resiliency, we reiterate our Buy rating and $242 PO based on 36x '24 P/E." Wells Fargo reiterates Bank of America & JPMorgan as overweight Wells Fargo said it's standing by its overweight rating on Bank of America but lowered its price target to $40 per share from $43. The firm also lowered estimates on shares of JPMorgan . "We lower ests. due to less-than-expected est. loan and capital markets growth, as well as less buybacks due to reg changes which, for the group, makes us more cautious short-term." UBS upgrades Avery Dennison to buy from neutral UBS said it sees an earnings inflection for the adhesives company. "We upgrade AVY to Buy, lifting our LT est's and raise our PT to $222 (~25% upside). AVY stock has been stuck in $160-190 range for most of the last 2 years; we believe the stock can break out of this as earnings inflect meaningfully positive Y/Y in 4Q23/2024." Bank of America downgrades Dick's to neutral from buy Bank of America downgraded the stock after its disappointing earnings report Tuesday. "Post 2Q results, we see increased risks to DKS sales & margin outlook due to: (1) normalization of spending on categories that outperformed during COVID-19 (incl. Outdoor apparel & equipment, bicycles, etc.), (2) years of high grocery inflation crowding out spending on discretionary purchases." Read more about this call here . DA Davidson upgrades Louisiana-Pacific to buy from neutral DA Davidson said it sees an attractive entry point for the building materials company. "We are upgrading shares of LPX from Neutral to BUY, believing that the recent weakness in the in response to a reset in near-term expectations for the Siding business creates a compelling entry-point." Goldman Sachs initiates Safehold as buy Goldman Sachs said shares of the real estate investment trust are "attractive." "Over time (as restructuring activity picks up in the near term, and as refinancing and transaction activity recovers over the medium term), we expect SAFE's earnings and value growth will be driven by investment volumes(and yield), where we forecast +10.6% average EPS growth per year in 2024 through 2025." Read more about this call here. Goldman Sachs initiates Infosys as buy Goldman Sachs said in its initiation of the India IT company that the stock is attractive. " Infosys ( INFY.BO/INFY): Under-appreciated growth recovery; attractive valuations; initiate at Buy." Susquehanna reiterates Marvell Technology as positive The firm said it's cautious heading into Marvell earnings Thursday. "We expect generally in-line results, but an uncertain guide as we believe the growing AI opportunity may not be enough to offset continued softness in traditional networking, storage, comms infra, and consumer."

https://www.cnbc.com/2022/10/18/recession-or-not-alcohol-stocks-have-shown-resilience-in-tough-times.html

BF.B

Brown–Forman

Recession or not, investments in this sector have shown resilience in tough times

With the economic picture growing gloomier by the day, investors may be looking for sectors that have historically proven to be resilient during a recession. "Alcohol has the tendency to survive the times," said Mark Neuman, chief investment officer and founder of Constrained Capital. His ESG Orphans exchange-traded fund, which has $1 million in assets under management and targets companies excluded from ESG-focused portfolios, holds alcohol stocks such as Anheuser Busch InBev , Brown Forman , Diageo , Constellation Brands , and Molson Coors Beverage . "In a market where things go down, these should go down less," he said. Historically, recessions don't reduce the volume of alcohol consumed per capita, a June analysis by Goldman Sachs found. However, a separate report from Bernstein found that during times of abnormally high unemployment per capita consumption fell 1%. There have been increased warnings about a potential recession. JPMorgan Chase CEO Jamie Dimon recently told CNBC he expects the economy to tip into a recession in six to nine months, while Goldman Sachs CEO David Solomon advised investors to be cautious as there is a "good chance" of a recession . Economists surveyed by The Wall Street Journal said the probability of recession in the next 12 months is 63%, while Bloomberg economists put the odds of one happening in that time frame at 100%. President Joe Biden , on the other hand, told CNN he doesn't think a recession will happen , and if it does it will only be "slight." Right now, unemployment remains low, with September's rate at 3.5%. While alcohol consumption may remain steady, or dip slightly, during a potential recession, there are nuances that may have an impact on some companies' bottom lines. Consumers are trading up For the past several years, consumers have been trading up to higher-end cocktails and beers. This shift to premium products, coupled with annual price increases, has resulted in a 4% compound annual growth rate in alcohol sales — despite consumption remaining consistent over the past 80 years, Wedbush analyst Gerald Pascarelli wrote in a note earlier this month. Spirits are particularly hot, including those that are ready to drink. Overall, the ready-to-drink category brought in more than $1.4 billion in sales in the 52 weeks ended Oct. 1, according to NielsenIQ. Canned cocktails were the bulk of those sales, coming in at more than $1 billion, representing a 66.5% increase year over year. Hard seltzer, on the other hand, is losing ground as consumers turn away from the typically malt-based beverages. Sales declined 7.5% during that same time period, according to NielsenIQ. However, the cohort is still much larger than canned spirits, with $4.2 billion in sales over the last year, the data show. Distributors expect hard seltzer sales to fall 6% this year and 4% in 2023, according to a separate note from Goldman Sachs earlier this month. "While a few distributors see a pathway for the category to stabilize by next year, most are concerned that the core hard seltzer customer may have already moved on," wrote Goldman analyst Bonnie Herzog, who reiterated her sell rating on Truly maker Boston Beer . Good times for tequila, Mexican beer Another macro trend is the popularity of Mexican products, in part because of the growing Hispanic population in the U.S., as well as increasing interest from non-Hispanics, experts said. It also plays into the trend for premium products. "The hottest in spirits by far is tequila," said Brian Sudano, managing partner of consulting firm and research company Beverage Marketing. Tequila and mezcal made up the second-fastest growing spirits category by revenue and volume last year, according to the Distilled Spirits Council of the United States. The Mexican spirits accounted for nearly one-third of the total increase in spirits revenue in 2021, the council said. Mexican beer is also gaining in popularity. Constellation Brands' Modelo Especial, considered at the premium end of the U.S. beer market, was the No. 3 brand in 2021, according to Sudano. It was the only one of the top three on the sales upside, with 12% growth, he said. Based on its performance in 2022, Modelo Especial will likely take the No. 2 spot from Coors Light, Sudano said. Constellation Brands CEO William Newlands touted that continued share gain this year during the company's earnings call earlier this month. "We continue to see further opportunities to maintain the growth momentum of Modelo Especial, particularly given the resilience of premiumization trends and our relentless focus on striving to close the brand's distribution and awareness gaps," he said. Health and wellness is another growth factor, as consumers look for drinks that have lower carbs, sugar and calories. "Many people still feel like spirits may be aligned better with their health and wellness," said Bernstein analyst Nadine Sarwat. There has also been an uptick in the growth of nonalcoholic beer, which also plays into that theme, said Christopher Shepard, senior editor at Beer Marketer's Insights. What's more, the vast majority of the buyers are those who are still drinking, but looking for moderation, he said. Those nonalcoholic beverage makers are also now moving into the alcohol space , Shepard pointed out. Coca-Cola teamed up with Molson Coors to release Simply Spiked Lemonade and Topo Chico Hard Seltzer. Its Fresca Mixed products are produced by Constellation Brands and it is working with Brown Forman on Jack and Coke in a can. PepsiCo has collaborated with Boston Beer for Hard Mountain Dew and with FIFCO USA for Lipton Hard Iced Tea, while Monster Beverage plans to release an alcoholic beverage under Beast Unleashed late this year. Meanwhile, those companies that had invested heavily in hard seltzers are now looking to expand their offerings, Shepard said. For instance, Boston Beer just released Truly Vodka Seltzer to get into the spirits-based ready-to-drink craze. For Goldman's Herzog, it's still too early for the vodka seltzer and Hard Mountain Dew to move the needle for Boston Beer, although she said Twisted Tea's growth trends look promising. "While the bulls would argue that Twisted Tea and other innovations should be enough to overcome the drag from Truly's decline & share loss, the bears (and we) would counter that SAM's efforts won't be enough to offset the magnitude of Truly's losses (even at Twisted's relatively more attractive margins)," wrote Herzog, whose price target implies about 30% downside from Monday's close. Boston Beer has an average analyst rating of hold and 8% downside to the average price target, according to FactSet. "One of the things that we have learned from watching the beer industry over the last decade, and even further, is that the consumer keeps moving. The consumer keeps being interested in what's next," Shepard said. What a recession may mean While consumers' consumption may not change much during a recession, they could spend less by buying cheaper products. "What's the biggest debate in alcohol right now? Well, it's — Is the consumer going to potentially downtrade out of these higher-priced offerings into lower-priced offerings?" Wedbush's Pascarelli said. When that happens, spirits tend to get hit harder, Bernstein's Sarwat noted. "The variations in liquor prices are far greater than beer," she said. "In a recession, beer tends to gain about one percentage point of share from spirits. That makes intuitive sense because beer feels more affordable," Pascarelli said. There is also downtrading within spirits, as people trade a higher-priced liquor or brand for a less expensive option, Sarwat added. If downtrading occurs, then those who produce mostly spirits would feel the pinch. However, those who have a diversified alcohol portfolio with different price points may also be affected, Pascarelli said. "It's going to result in a native mix shift," he said. "People are going to be buying lower-priced products, so they're not going to be as profitable." Among key spirits, bourbon and vodka are showing resiliency to downtrading, while within tequila, share shifts continue to favor the high end — although the gap has narrowed, Pascarelli said in his note. High-end beer continues to outpace lower-end beer, but he believes we may see some switching from premium/premium lights into lower-priced economy beers. "There may be some early signs of downtrading from high-end wine into lower-end wine; that said, luxury wine is not showing signs of downtrading at this point," Pascarelli wrote. However, while a recession may cause a blip in profits for alcohol stocks due to downtrading, as soon as a recovery starts the trend toward premium will get back on track, Sarwat predicted. That's because, in general, consumption is driven by generational trends and policy changes, not the economy, she said. How to play the space With that mindset, you shouldn't alter your long-term investments because of a potential recession, Sarwat said. "If I'm talking to a shorter-term investor, they really care about where we're going to be over the next year," she said. "So they might really like spirits, but they're thinking, 'I just can't get close to spirits right now because I'm worried about a recession.'" Both Sarwat's and Pascarelli's top pick is Constellation. The beverage company is best known for its Mexican beers, Corona and Modelo, which play at the super premium end of the U.S. beer market, Sarwat said. They both like that the brand appeals to the growing U.S. Hispanic population and have a lot of blank spaces to grow with non-Hispanic consumers. "Fundamentally, it has a very, very strong portfolio just from a brand perspective," Sarwat said. An investor with a shorter horizon may also like Constellation if a recession hits, since beer will be better positioned relative to other alcohol players, she pointed out. The company is also trading at a discount, because it has made some past capital allocation errors, including taking a stake in Canopy Growth at the peak of the cannabis valuation bubble, both Sarwat and Pascarelli said. The stock has an average analyst rating of overweight and there is 22.8% upside to the average price target, as of Monday's close, according to FactSet. Pascarelli has two other names he rates outperform: MGP Ingredients, which he likes because of its exposure to distilled spirits, and winemaker Duckhorn Portfolio. MGP Ingredients over-indexes to whiskey, he said. "Whiskey is going to continue to outperform over the broad spirits category." Duckhorn is a "pure play luxury wine company" that looks insulated from potential downtrading, he said. "The core consumer base of this wine category will be better able, presumably, to withstand outsized levels of inflation because they're higher earners," Pascarelli said. "Then, over the long term, once this inflation subsides, they have the premiumization trends that we've seen over the past decade." MGP Ingredients has almost 21% upside, according to the average analyst price target on FactSet. Its average price target is buy. Duckhorn also has an average rating of buy, with 30% upside to the average price target. Diageo is another name liked by analysts. The London-based global company, whose brands include Johnnie Walker, Tanqueray, Baileys and Guinness, has an average rating of overweight and 17% upside to the average analyst price target, according to FactSet. While it does have beer in the portfolio, Thornburg portfolio manager Nicholas Anderson views it more as a spirits company. "[Spirits are] an affordable luxury. People have shown a willingness to pay up for a better drink," said Anderson, who manages the Thornburg International Growth Fund, which has a total of $1 billion in assets. Diageo makes up about 2% of the fund. Anderson isn't concerned about an economic downturn. "Maybe growth will slow in a really bad recession, but we think this company is poised to survive and thrive," he said. — CNBC's Michael Bloom contributed reporting.

https://www.cnbc.com/2023/03/22/poop-themed-dog-toys-shaped-like-whiskey-bottles-face-supreme-court-trademark-showdown.html

BF.B

Brown–Forman

'Poop-themed dog toys' shaped like whiskey bottles face Supreme Court trademark showdown

A bottle of Jack Daniel's and a "Bad Spaniels" dog toy, whose manufacturer is the subject of a lawsuit by the whiskey maker over allegations of trademark infringement. WASHINGTON — The Supreme Court on Wednesday will debate whether Jack Daniel's has to grin and bear it over humorous dog "poop-themed" toys that bear a resemblance to its iconic whiskey bottles. The justices, taking a break of sorts from some of the weightier issues before them on cases about race, voting and LGBTQ rights, are hearing oral arguments on whether the toys made by VIP Products LLC violate trademark law. VIP says its products, including the "Bad Spaniels" toy shaped like a whiskey bottle, are obvious parodies and should therefore be protected as free speech under the First Amendment. The toy in question has a label on its neck saying "Old No. 2" in reference to the "Old No. 7" label on Jack Daniel's bottles. It also says "Old No. 2 on your Tennessee Carpet" on the body in reference to the "Old No. 7 Tennessee Sour Mash Whiskey" main label featured on the whiskey bottles. The whiskey maker, describing the offending products as "poop-themed dog toys," counters that there is a likelihood of confusion, meaning the product violates trademark law. "Jack Daniel's loves dogs and appreciates a good joke as much as anyone. But Jack Daniel's likes its customers even more, and doesn't want them confused or associating its fine whiskey with dog poop," the company's lawyer, Lisa Blatt, wrote in court papers. The problem, she added, is that VIP "sells products mimicking Jack Daniel's iconic marks and trade dress that mislead consumers, profit from Jack Daniel's hard-earned goodwill, and associate Jack Daniel's whiskey with excrement." VIP's lawyer, Bennett Cooper, wrote in court papers that Jack Daniel's, which is owned by major wine and spirits producer Brown-Forman, is attempt to stifle free speech by "weaponizing" trademark law. "The Bad Spaniels Silly Squeaker toy is indisputably a good-faith (and successful) parody," Cooper wrote. "It involves a pretend trademark and pretend trade dress on a pretend label on a pretend bottle with pretend contents, when the real product is a parody embodied in a solid-vinyl dog toy with a squeaker." The 9th U.S. Circuit Court of Appeals in 2020 ruled in favor of VIP Products, saying that its toys are protected under the First Amendment, which prompted Jack Daniel's to seek further review from the Supreme Court. Various companies, including Nike Inc., Campbell Soup Co. and American Apparel, filed briefs backing Jack Daniel's, saying the appeals court's interpretation of the law threatened trademark protections that shield the value of iconic brands. The Biden administration also supports the whiskey maker. Free speech advocates, including the Electronic Frontier Foundation, filed briefs backing VIP, citing the importance of people being able to comment on and mock famous brands.

https://www.cnbc.com/2023/03/08/stocks-making-the-biggest-moves-midday-stitch-fix-tesla-wework-campbell-soup-and-more.html

BF.B

Brown–Forman

Stocks making the biggest moves midday: Stitch Fix, Tesla, WeWork, Campbell Soup and more

The Stitch Fix logo on a smartphone arranged in Hastings-on-Hudson, New York, U.S., on Saturday, June 5, 2021. Stitch Fix Inc. is scheduled to release earning on June 7. Check out the companies making headlines in midday trading. United Natural Foods — The organic food company tumbled 27% after posting earnings for its fiscal second quarter that missed analyst expectations. It also cut its full-year earnings guidance and withdrew its financial targets for fiscal 2024. Stitch Fix — The styling company saw shares drop 10% after it reported weaker-than-expected revenue for the latest quarter as well as a wider-than-forecast loss. Brown-Forman Corp — Shares of the Jack Daniels maker fell 4.4% after the company reported earnings for the latest quarter of 21 cents per share that included a $27 million pension settlement charge. Tesla — Shares of Tesla dropped more than 3% after the U.S. National Highway Traffic Safety Administration began investigating two complaints of steering wheels coming off 2023 Model Y vehicles while vehicle was in motion. Berenberg also downgraded shares to hold from buy. Occidental Petroleum — The energy stock climbed more than 1% after a new regulatory filing showed Warren Buffett's Berkshire Hathaway added to its already large stake in the company over the past trading sessions. The Omaha-based conglomerate bought nearly 5.8 million shares of the oil company in a few trades on Friday, Monday and Tuesday, bumping Berkshire's ownership to 22.2%. Diversey — The maker of cleaning and hygiene brands such as Dove, Lysol and Air Wick surged more than 37% after the company agreed to be acquired by Solenis in cash in a deal valued at $4.6 billion. The acquisition is expected to close in the second half of the year. WeWork — WeWork shares jumped more than 4% following a New York Times report, citing unnamed sources, that said the office space company is in talks with investors to raise more cash and to restructure its debt of more than $3 billion. Casey's General Stores — The convenience store chain rose more than 2% midday after the company posted a big earnings beat for its fiscal third quarter and revenue in line with expectations. Casey's also reported it's planning to open about 80 new stores this year. Campbell Soup Company — Campbell Soup saw shares rise nearly 2% after its fiscal second quarter earnings, revenue and margins beat analysts' expectations. The company also raised the midpoint of its full-year revenue growth and earnings guidance. CrowdStrike — Shares of the subscription software company were up 2.2% after its fourth-quarter earnings and revenue came in stronger than expected. The company's revenue also topped expectations, coming in at $637 million compared to $625 million anticipated by Refinitiv analysts. CrowdStrike offered strong earnings and revenue guidance for 2023 as well. — CNBC's Yun Li, Hakyung Kim and Sarah Min contributed reporting

https://www.cnbc.com/2016/12/29/here-are-10-stock-picks-for-next-year-from-the-best-industrial-analysts-of-2016.html

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Builders FirstSource

Here are 10 stock picks for next year from the best industrial analysts of 2016

TipRanks identified the top industrial stock analysts of 2016 and found which stocks they like for the new year. We used a natural language processing algorithm to rank analysts based on two factors: Average return of buy-sell recommendations. Success rate of buy-sell recommendations. Here are the five best-performing industrial analysts and the stocks they are recommending for 2017.

https://www.cnbc.com/2024/03/11/were-bracing-for-more-choppiness-in-the-market-ahead-as-ai-trade-wobbles.html

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Builders FirstSource

We're bracing for more choppiness in the market ahead as AI trade wobbles

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.) Momentum fading?: The S & P 500 is on track for slight losses Monday, but stocks are well off their lows of the session. Concerns about Friday's intraday reversal in leading artificial intelligence chipmaker Nvidia — which traded 5% higher before closing down 5% — extended into the new week. Many observers are arguing that some pockets of the market, mainly in the AI trade, have moved too far, too fast and are ripe for pullbacks. Nvidia, a longtime Club holding, fell 1.5% Monday. Last week, we cautioned around what we perceived as toppy behavior , contending it would be healthy for the market to shakeout some of its excess froth. Given these concerns, we would not be surprised to see more choppiness ahead and pullbacks like we're seeing Monday play out more frequently over the next few weeks. That may create better buying opportunities for those with patience and willing to pass on the "first dip." Sectors leading: Materials is the top-performing sector Monday. Some of that is tied to Club holding Linde , which climbed more than 1% on news it will be added to the Nasdaq 100 index later this month. However, the strength is mostly in some of the group's laggards like Albemarle , Newmont , FMC Corp . and International Flavors & Fragrances . The No. 2 performing sector Monday is consumer staples, and the move higher in the group makes sense to us. If investors are fearing momentum and selling stocks with extended, parabolic charts, it's likely some of that money will find its way into more stable names that pay solid dividends. Club consumer staple Procter & Gamble , which was upgraded to buy from hold by Truist, added about 0.7%. Energy is higher despite being weighed down by EQT Corp. 's acquisition-related decline. Sectors lagging: Meanwhile, industrials on Monday are at the bottom of the S & P 500. Some of this underperformance has to do with Boeing falling on reports of a new Department of Justice probe into the Alaska Airlines door blowout, but there's also profit-taking afoot in recent winners like housing-linked Builders FirstSource and Howmet Aerospace . Tech also is having a rough day as the recent rallies in semiconductor stocks like Nvidia and software names lose steam. Later: Earnings from tech giant Oracle will give us the latest read on the data center market and cloud spending environment. Tuesday is a busy day with earnings from shoe maker On Holding and retailer Kohl's , as well as the the February consumer price index report before the bell, which will provide the latest look at U.S. inflation. Meanwhile, we'll be keeping an eye on Club holding GE Healthcare's appearance Tuesday at Oppenheimer's MedTech and Services conference. (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.

https://www.cnbc.com/2024/04/06/best-advice-on-buying-a-1-home-in-italy-from-people-who-did-it.html

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Builders FirstSource

Want to buy a $1 home in Italy? The best advice from 3 people who did it

For years now, people around the world have been captivated by Sicilian towns selling off abandoned homes starting at 1 euro, or roughly $1.08. Several hundred homes have been sold to curious and ambitious renovators, including Meredith Tabbone, 44, of Chicago. She learned in 2019 that a town called Sambuca di Sicilia was auctioning off homes starting with 1-euro bids. "A lot of people warned me that it could be a scam [and that] I could end up losing a lot of money," she tells CNBC Make It. Still, she took up the idea when she realized her great-grandfather was actually from Sambuca. She placed her bid on a home for 5,555 euros sight unseen and won, thus starting her on a four-year journey of renovations. Meredith Tabbone says she's never done a renovation project like this before, but she was inspired by the work of her father, who was an architect. Mickey Todiwala | CNBC Make It "From the moment that I sent in the bid and checked my email every day and found out that I won, all the way through this process, there have been 4 million moments of frustration, exhaustion, contemplation of how to move forward," she says. Tabbone and other 1-euro homebuyers share their biggest pieces of advice to other aspiring renovators around the world. Prepare for additional costs Sicily's homes may start at 1 euro, but the cost is largely symbolic and just the start of more expenses down the line. In Mussomeli, one of the most famous 1-euro towns, buyers must also pay a realtors fee of 500 euros and pay for the deed, which costs 2,800 euros. That adds up to a total of 3,301 euros, or nearly $3,600. Rubia Daniels is from Berkeley, Calif., and bought several 1-euro houses in Mussomeli, Sicily. Mickey Todiwala | CNBC Make It Rubia Daniels, 50, of Berkeley, Calif., bought three 1-euro homes in Mussomeli in 2019. So far, she's focused her efforts on renovating her main vacation home. She originally thought it would cost her $20,000 but has already spent $35,000 between materials, labor and furniture. She hopes to stay under $40,000. Tabbone paid 5,555 euros for her home, plus some taxes and fees, bringing the home sale up to 5,900 euros, or roughly $6,400. She then bought the building next door through a private sale with the owner for 22,000 euros, or nearly $24,000. Over the next four years, Tabbone spent about 425,000 euros on renovations, or roughly $463,000. Altogether, that adds up to 430,900 euros, or $469,500 for her dream home in Sicily. Be present for renovations Speaking of renovations, though communicating with local construction workers can kick off plans, buyers say it's crucial to be on the ground while work is being done. Danny McCubbin, an Australian native who bought a 1-euro house in Mussomeli, says he's seen "quite a few" foreigners try to manage their project from their home country. McCubbin bought his cheap Sicilian home in 2019 with hopes to turn it into a food-rescue charity. He ended up selling his house back to the real estate agency after it experienced extensive, and costly, water damage. But he managed to open his charity, The Good Kitchen, elsewhere in town. "It's best to actually be here with the builder, choosing the tiles, choosing whatever you need," he says. For the times you can't be there in-person, he also recommends finding a local project manager who can speak English and Italian to communicate plans with the local crew. Have patience Daniels works in construction and learned quickly that things in Sicily take much longer than they do in the U.S. "Working with contractors in Sicily, I had to learn how to set my expectations, but not my American expectations," she says. Have patience to understand the culture and how business is done so you don't get frustrated, she adds. She's been renovating her main home in Mussomeli on and off since 2020 and is still several months from finishing. "Overall, there's plenty capable people to do the work," Daniels says, but "the work here, it flows in a different way. You have to remember this is an island and they are in an island time. So [things] just move a little bit slower than what you expect." Visit in the winter If you're planning to buy real estate in another country, it's best to spend a good amount of time there. And don't only go when it's peak travel season. "I always say come for longer than one or two weeks," McCubbin says. "And most importantly, come in winter. In summertime it's beautiful. It's sunny, the houses, there's no mold in them. You discover in winter that a lot of these houses do have mold. They do have moisture, and it's a very different feel here than in summer." Danny McCubbin had to give back his 1-euro home after it experienced extensive damage, but he found a way to launch his charity, The Good Kitchen, in Mussomeli's town square. Mickey Todiwala | CNBC Make It Learn the language Tabbone, Daniels and McCubbin agree that it's crucial to learn Italian in order to really get around Sicily, especially if you plan to spend part of your year there. Language-learning apps and courses are a good place to start, but immersing yourself among locals is another great way to practice. Tabbone says she enjoys spending time with Sicilians when she visits. Her first friends in Sambuca included members of the construction crew on her project, who then introduced her to their friends and family members. She also has a close relationship with the town's mayor — she practices her Italian with him and he practices his English with her. "I think I would be extremely fluent in Italian if Google Translate did not exist," she jokes, "but I'm very, very proficient at Google Translate." Don't be lured just by cheap houses

https://www.cnbc.com/select/cash-app-banking-review-2024/

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Builders FirstSource

Cash App Banking review: 4.50% savings APY and no fees

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate as the Fed rate changes. CNBC Select will update as changes are made public. Cash App earned its reputation as a top money transfer app, but it has added more traditional banking features, including a high-yield savings account (HYSA) and VISA-branded debit card, as well as giving users the ability to invest in stocks and buy and sell bitcoin. CNBC Select looks at Cash App's banking features and sees how they stack up to the competition. Cash App Learn More On Cash App's secure site Cost Free to download and use basic services Transfer speed 1 to 3 business days or instant cash-out deposits for a 1.5% fee (25 cent minimum) Standout features App allows users to invest money in individual stocks as well as buy and sell bitcoin Links to accounts Yes, bank accounts and credit cards Availability iOS or Androis Security features Data encryption and fraud detection technology; unique, one-time login codes, two-factor authentication Terms apply. Pros Free debit card for users who opt in Free ATM withdrawals if you direct deposit at least $300 per month (otherwise $2 per withdrawal) Cash App Offers provide discounts with certain retailers that are automatically applied to a purchase to help users save money (only one may be active at a time) App includes features to let users invest in stocks and buy and sell Bitcoin Cons Charges a 3% processing fee when using linked credit card as a payment method Charges a 1.5% fee for instant cash-outs (to disperse funds immediately to your bank account with no waiting period) Cash App cash and savings balances are covered by FDIC insurance through a partner bank (up to $250,000) only if you have a Cash App Card (or are a sponsor of any active sponsored accounts) Learn More View More How Cash App Banking works There are no fees to download Cash App or access its basic services. Users can open an account without a bank account or credit check and there are no minimum balance requirements after the $1 opening deposit (unless you want the 4.50% APY). You can add money to your balance via direct deposit or by depositing cash at participating retailers like Walmart, Walgreens, 7-Eleven and Family Dollar. Similar to a traditional checking account, you can use your account and routing numbers to pay bills online and withdraw money from ATMs with your Cash App Card. Because Cash App is a financial services platform and not a bank, deposits are FDIC-insured through Wells Fargo Bank for up to $250,000 per person. Cash App Banking APY To open a Cash App savings account and earn their APY, you must be 18 or older and have a Cash App personal account and a Cash App Card. There are no monthly fees or balance requirements. One of Cash App's biggest draws is that savers can earn up to 4.50% APY, a return on par with some of the best high-yield savings accounts. To unlock that higher APY, though, you'll have to set up a monthly direct deposit of at least $300. Otherwise, the savings account earns a base 1.50% APY. If you're already using Cash App for payment transfers or ATM access, the savings account is the icing on the cake. If you just want a high yield and aren't looking for other features, these are HYSAs with APYs above 5.00% and no monthly deposit requirements. Western Alliance Bank High-Yield Savings Account Learn More Western Alliance Bank is a Member FDIC. Annual Percentage Yield (APY) 5.24% APY Minimum balance $1 minimum deposit Monthly fee None Maximum transactions Up to 6 transactions each month Excessive transactions fee The bank may charge fees for non-sufficient funds Overdraft fee No overdraft fee Offer checking account? No Offer ATM card? No Terms apply. Newtek Bank Personal High Yield Savings Learn More Newtek Bank is a Member FDIC. Annual Percentage Yield (APY) 5.25% APY Minimum balance $0.01 to earn interest Monthly fee None Maximum transactions Up to 6 free withdrawals or transfers per statement cycle; transaction amount limits apply; withdrawals from your account can only be transferred to the original external funding source Excessive transactions fee None Overdraft fee None Offer checking account? Only a business checking account Offer ATM card? Yes, if have a Newtek checking account Terms apply. UFB Secure Savings Learn More UFB Secure Savings is offered by Axos Bank ® , a Member FDIC. Annual Percentage Yield (APY) Up to 5.25% APY on any savings balance; add a UFB Freedom Checking and meet checking account qualifications to get an additional up to 0.20% APY on savings Minimum balance $0, no minimum deposit or balance needed for savings Fees No monthly maintenance or service fees Overdraft fee Overdraft fees may be charged, according to the terms; overdraft protection available ATM access Free ATM card with unlimited withdrawals Maximum transactions 6 per month; terms apply Terms apply. Read our UFB Secure Savings review. Bask Interest Savings Account Learn More Bask Bank and BankDirect are divisions of Texas Capital Bank, Member FDIC. Annual Percentage Yield (APY) 5.10% APY 1 Minimum balance None Monthly fee None Maximum transactions Up to 6 free withdrawals or transfers per statement cycle Excessive transactions fee None Overdraft fee None Offer checking account? No Offer ATM card? No Terms apply. 1Annual Percentage Yields (APY) and Interest Rates shown are offered on accounts accepted by Bask Bank and effective per the dates shown above, unless otherwise noted. Annual Percentage Yield is variable and subject to change at any time. No minimum balance requirement and no monthly service charge. Must fund within 15 business days of account opening. Cash App Banking features Cash App has expanded beyond just payment transfers to offer a suite of banking features. Savings account The standard Cash App Savings APY is 1.50% after you receive a card. You can unlock an additional 3% (for a total APY of 4.50%) by setting up a direct deposit of $300 or more in paychecks every month. You can round up Cash App Card purchases to the nearest dollar and deposit the difference to your savings account. You can also set savings goals and assign an emoji to the objective you've selected. Cash App users who sign up for direct deposit can get their paycheck up to two days early and have Cash App's ATM fees waived. You can't withdraw cash directly from your Cash App savings account, but you can make unlimited instant transfers between your Cash App balance and savings with no fees or monthly caps. Debit card Although Cash App is a mobile payment app, it offers the Cash App Card, a prepaid Visa debit card issued by Sutton Bank. It connects directly to your Cash App balance and doesn't come with the monthly fees or minimum balance requirements often associated with traditional checking accounts. Once you open an account with Cash App and receive your card in the mail, you can use it to pay online or in stores anywhere Visa is accepted. Cash Card users can get exclusive access to concert presales, special events and limited-edition collections. They can also select categories to earn cash back from, including purchases at restaurants, coffee shops and stores. Cardholders can only activate one offer at a time, however, and offers change regularly. ATM access The Cash App Card can be used to make withdrawals from ATMs and get cash back at checkout. Customers who direct deposit at least $300 a month get free unlimited withdrawals from in-network ATMs, as well as one free out-of-network withdrawal every month. If you don't have qualifying direct deposits (or use an out-of-network ATM), there is a $2.50 fee — plus any charge from the ATM operator. There are also limits on ATM withdrawals: $1,000 per day $1,000 per ATM transaction $1,000 per week Fees Cash App's banking features don't come with monthly fees. There are no overdraft fees and customers who direct deposit at least $300 can receive up to $50 in overdraft coverage protection. Security features Cash App utilizes standard security features like data encryption, security locks, identity verification and fraud detection. Users can also choose to enable Face ID. Cash App sends notifications about suspicious activity (like a log-in in from a new device), as well as real-time transaction alerts. Cash App Banking vs. Chime Banking Like Cash App, Chime is a fintech company partnering with a traditional bank (Oklahoma-based Stride Bank) to offer savings and checking accounts, debit cards and credit cards. Chime Checking + High-Yield Savings Learn More Chime ® banking services, credit and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. Annual Percentage Yield (APY) Chime Checking 0% APY, required to enroll in Chime High-Yield Savings 2.00% APY Minimum balance $0, no minimum deposit or balance Fees No monthly maintenance or overdraft fees. SpotMe service with eligibility for no-fee overdraft up to $200. Perks Paycheck available up to two days early with direct deposit. Automated savings of 10% of certain direct deposits. Round Ups feature transfers spare change from purchases to savings. Maximum transactions Cash withdrawals from checking up to $515 per day at any ATM or as an over-the-counter bank withdrawal. $2,500 maximum daily spend, including any withdrawals, purchases and incurred fees. ATMs 60,000+ in-network no-fee ATMs. Mobile check deposit Yes Terms apply. Like Cash App, Chime doesn't charge monthly fees or overdraft fees for checking and there is no minimum account balance requirement. Chime also offers a debit card with fee-free ATM access for customers who set up direct deposit. Chime's savings account has a lower 2.00% APY, but there is no direct deposit requirement to unlock the full yield. Where Chime outshines Cash App is with its credit-builder secured credit card, which doesn't require a credit check and has no minimum security deposit requirement, no annual fee and no interest. If you're focused on maximizing the return on your savings, Cash App is the stronger option. If you're building or repairing your credit, Chime might be the better choice. FAQs Do I need a bank account to use Cash App Banking? No, you don't need a bank account to use Cash App. You can set up direct deposits or make deposits at participating retailers. Can I use an ATM to take out money from my Cash App Banking account? Cash App customers who direct deposit at least $300 a month get free unlimited withdrawals from in-network ATMs and one free out-of-network withdrawal a month. If you don't have qualifying direct deposits or use an out-of-network ATM, there is a $2.50 fee plus any charge from the ATM operator for out-of-network withdrawals. Is Cash App Banking safe? Cash App uses standard encryption and fraud detection technology to protect users' data. Deposits are FDIC-insured through Wells Fargo for up to $250,000 per person. Compare offers to find the best savings account Bottom line Cash App isn't a conventional approach to banking, but it can be helpful for those who've had trouble getting a bank account. There are no fees and the Cash App Card is a free debit card that can be used anywhere Visa is accepted. If you want to earn the 4.50% APY on Cash App Savings, though, you'll have to set up a monthly direct deposit of at least $300. Why trust CNBC Select? At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every personal finance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of banking products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best money transfer apps. Catch up on CNBC Select's in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date. Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

https://www.cnbc.com/select/what-is-a-thin-credit-file/

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Builders FirstSource

What is a thin credit file and how do you improve it?

What does it mean to have a thin credit file? Having a thin credit file means that you have little to no credit history to report on. In other words, companies don't have much access to information about your financial history. Experian says that if you have five or fewer accounts in your credit history that are tracked by one of the three main credit bureaus — Experian, TransUnion and Equifax — you would be defined as having a thin credit score. Many credit scoring models require at least one or two accounts to generate a credit report in addition to three to six months of payment activity. Some people may have a thin enough file that a credit score can not be generated. Individuals with thin credit files may receive less favorable terms from lenders or oftentimes have their applications denied outright. Don't miss: How to understand and check your credit score for free Why would someone have a thin credit file? There can be several reasons that someone might have a thin credit file, and many of them aren't necessarily negative. If you are relatively young you might not have had enough time to develop a strong credit profile. Similarly, if you recently immigrated to the U.S., your home country's credit history generally won't transfer over, meaning you might be building your credit file from scratch. In addition, some people try to avoid credit and will frequently use cash or debit cards to pay for purchases, both of which don't impact your credit score. If you had credit accounts in the past but not recently, this may also contribute to a thin credit file as accounts will fall off your record in about seven to ten years depending on the type of negative information. How to build up a thin credit file There are several ways you can fatten up your thin credit file. An easy way to improve a thin credit file is by using a secure credit card, such as the Discover it® Secured Credit Card. The Discover it Secured Credit Card allows you to earn rewards as you improve your credit score and offers a path to upgrading to an unsecured card as early as seven months after opening your card. Discover it® Secured Credit Card Learn More On Discover's secure site Rewards Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases. Welcome bonus Discover will match all the cash back you've earned at the end of your first year Annual fee $0 Intro APR N/A on purchases Regular APR 28.24% Variable Balance transfer fee 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)* Foreign transaction fee None Credit needed New / Rebuilding *See rates and fees, terms apply. Read our Discover it® Secured Credit Card review. For some, taking out a credit-builder loan might be a good path toward beefing up their credit file. The Self Credit Builder Account requires no large upfront payment and users can choose from four different pricing options. This credit-builder loan works by holding your loan in a Certificate of Deposit (CD) that is FDIC-insured, you make monthly payments that are reported to all three major credit bureaus and at the end of your term, once you've paid off your loan, your CD matures and unlocks minus fees and interest. Self Credit Builder Account Learn More Annual Percentage Rate (APR) 15.72% to 15.97 Loan purpose Building credit history Loan amounts Payment options ranging from 25$ to 150$ a month. Terms 24 months Credit needed Poor or no credit Origination fee One-time, non-refundable administrative fee of $9 Early payoff penalty Early withdrawal fee of less than $1, depending on the size of your Credit Builder Account, if your account closes early without being paid off in full Late fee Late fee of up to 5% of the monthly payment amount if you don't make the full monthly payment on your Credit Builder Account within 15 days of the payment due date Terms apply. Another way to build your credit file is by paying bills on time utilizing *Experian Boost®. This is a free feature that allows users to link certain bills, like cell phone plans, utilities and streaming subscriptions, to Experian and get credit for positive, on-time payments. It's important to note not all types of payments are eligible and it will only influence your Experian credit report and score, not your credit scores with Equifax or TransUnion. Experian Boost™ Learn More On Experian's secure site Cost Free Average credit score increase 13 points, though results vary Credit report affected Experian® Credit scoring model used FICO® Score Results will vary. See website for details. How to sign up for Experian Boost: Connect the bank account(s) you use to pay your bills Choose and verify the positive payment data you want added to your Experian credit file Receive an updated FICO® Score Learn more about eligible payments and how Experian Boost works. Bottom line Having a thin credit file is not the same as having bad credit. However, it's still important to build up your credit history to gain access to more financial opportunities. Building up a large credit file can help financial institutions learn more about your financial habits and could aid you in getting better rates and opportunities down the line. Subscribe to the CNBC Select Newsletter! Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here. Why trust CNBC Select? At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of financial products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. Catch up on CNBC Select's in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date. For rates and fees of the Discover it® Secured Credit Card, click here. *Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost. 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/2024/02/17/4-of-our-stocks-report-earnings-next-week-heres-what-we-want-to-see.html

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Builders FirstSource

4 of our stocks report earnings next week. Here's what we want to see from each

Wall Street's five-week winning streak came to an end, with the S & P 500 losing 0.42% for the week, while the Dow Jones Industrial Average lost 0.11% and the Nasdaq Composite fell 0.82%. It was a roller coaster week driven largely by inflation data. A hotter-than-expected consumer price index on Tuesday sent stocks reeling, with the Dow posting its biggest drop in a year. Stocks bounced back over the next two days, helped by a softer retail sales report , only to slump again on Friday's hot producer price index for January. As we said this week, we're not overly concerned with the hotter-than-expected inflationary readings. One month does not make a trend, plus it shows a resilient economy and buys the Federal Reserve time to gather more data before cutting interest rates. Other notable reports: a weaker-than-expected January industrial production report and much weaker than expected January housing starts number, a decline of 14.8% month over month vs. expectations for a flat month. Earnings season picks back up for the Club next week, with four holdings set to report quarterly results. Overall, results have been solid: Of the 79% of S & P 500 companies that have reported so far, 75% reported an upside earnings surprise, while 65% reported better-than-expected revenue results, according to Fact Set. As a reminder, U.S. markets are closed on Monday, Feb. 19, in observance of Presidents Day. Palo Alto : Expectations are certainly high for this cybersecurity stock, which already made a sizable move up following results from peers Fortinet , Tenable , and Check Point on Feb. 6. All three beat expectations on the top and bottom lines and the consensus numbers for Palo Alto were not updated since then, according to FactSet. As a result, it's fair to assume that buy-side analysts will be disappointed by anything less than earnings, sales, and guidance all beating expectations. Free cash flow generation is another key watch item, as many analysts use this as the financial metric of choice for valuing Palo Alto. Aside from the numbers, we're interested to hear about the pace of deal activity and contract lengths, both of which have been headwinds. Contract lengths and deal timing can impact billings — which represent the total amount invoiced in a given period — we increased our focus on the remaining performance obligation (RPO), which includes both billings and the backlog of orders that have not been invoiced yet. It's not quite as secure due to the potential for cancelations, but still an important indicator of future sales. Shares of Palo Alto are up 24% this year, and nearly 107% over the past 12 months. Nvidia: The chipmaker's valuation still doesn't look all that demanding on a forward earnings basis, but the sheer size and speed of the rally we've seen in the stock — up nearly 47% this year — means that anything short of a beat and raise is almost certain to be met with a sell-off. Even with those beats, we might still see some profit-taking if the guidance isn't well above expectations. The good news: The expenditure outlook we got from some of Nvidia's largest customers — including Amazon , Microsoft , Alphabet , and Meta Platforms — should indeed result in a favorable outlook. A large part of the data center and AI infrastructure spending for these companies is going to Nvidia. Outside of the numbers, we want to hear about China and how the company is navigating export restrictions, along with any updates on the upcoming H200 and B100, both expected for release this year. Bausch Health: As for Bausch Health, we're not holding our breath. Even if the numbers come in better than expected, we expect the upside to be limited until the legal battle over Xifaxan is resolved (or we get some positive updates at the very least) and there is more certainty on the timing of the monetization of BCH's Bausch + Lomb stake. Coterra Energy . Management doesn't set the global prices of oil or gas, so what we're looking for is execution on things it can control. That means strong production on lower capital expenditure, which indicates production efficiency. Additionally, given the muted natural gas environment, we're curious to hear if they can shift their focus more toward oil production. Monday, Feb. 19 The NYSE , Nasdaq , and bond markets will be closed. Tuesday, Feb. 20 Before the bell: Walmart (WMT), Home Depot (HD), Axsome Therapeutics (AXSM), Medtronic (MDT), Barclays Bank (BCS), LGI Homes (LGIH), Armstrong World Industries (AWI), Ceragon Networks (CRNT), Tri Pointe Homes (TPH), Camtek (CAMT), Dana Incorporated (DAN), DigitalBridge Group (DBRG), Fluor (FLR), KBR (KBR), Oil States International (OIS), Tactile Systems Technology (TCMD), ALLETE (ALE), Allegion plc (ALLE), CenterPoint Energy (CNP), Equitrans Midstream Corporation (ETRN), Expeditors International of Washington (EXPD) After the bell: Palo Alto Networks (PANW), SolarEdge Technologies (SEDG), Realty Income (O), Teladoc Health (TDOC), Enovix Corporation (ENVX), Caesars Entertainment (CZR), NeoGenomics (NEO), Diamondback Energy (FANG), Medifast (MED), Toll Brothers (TOL), RingCentral (RNG), Ternium S.A. (TX), Celanese Corp (CE), Matterport (MTTR), Amplitude (AMPL), Chesapeake Energy (CHK), CVR Energy (CVI) Wednesday, Feb. 21 2:00 p.m. ET: Federal Reserve meeting minutes released Before the bell: Vertiv Holdings Co (VRT), Medical Properties Trust (MPW), Analog Devices (ADI), Photronics (PLAB), Wingstop (WING), Wix.com (WIX), Global-e Online (GLBE), Exelon (EXC), HSBC Holdings plc (HSBC), Alight (ALIT), Avista (AVA), Bausch + Lomb Corporation (BLCO), HF Sinclair Corporation (DINO), Pagaya Technologies (PGY), Gibraltar Industries (ROCK), Wolverine World Wide (WWW), Garmin (GRMN) After the bell: NVIDIA (NVDA) , Rivian Automotive (RIVN), Etsy (ETSY), Synopsys (SNPS), Lucid Group (LCID), Sunnova Energy International (NOVA), Dutch Bros (BROS), Apache (APA), Marathon Oil (MRO), Suncor Energy (SU), Mosaic Co. (MOS), FNF Group (FNF), Sunrun (RUN), Exact Sciences (EXAS), ANSYS (ANSS), Coeur D'Alene Mines (CDE), DigitalOcean (DOCN), Trip.com Group Limited (TCOM), B2Gold (BTG), Joby Aviation (JOBY), Range Resources (RRC), Alamos Gold (AGI), Jackson Financial (JXN), Nutrien (NTR), Pan American Silver (PAAS), Sm Energy Company (SM), Cheesecake Factory (CAKE) Thursday, Feb. 22 8:30 a.m. ET: Initial Jobless Claims 10:00 a.m. ET: Existing Home Sales Before the bell: Bausch Health Companies (BHC), Moderna (MRNA), Newmont Mining (NEM), Nikola Corporation (NKLA), Cheniere Energy (LNG), Fiverr International (FVRR), Wayfair (W), Pioneer Natural Resources (PXD), Eagle Point Credit (ECC), Lantheus Holdings (LNTH), First Majestic Silver (AG), Builders FirstSource (BLDR), Planet Fitness (PLNT), Grab Holdings Limited (GRAB), Novocure (NVCR), Quanta Services (PWR), NICE (NICE), Dominion Energy (D), Harmony Biosciences Holdings (HRMY), Teck Resources Limited (TECK), Intellia Therapeutics (NTLA), Keurig Dr Pepper (KDP) After the bell: Coterra Energy, (CTRA) , Block, (SQ), MercadoLibre (MELI), Carvana Co. (CVNA), Ardelyx, (ARDX), Booking Holdings (BKNG), Intuit (INTU), indie Semiconductor (INDI), Live Nation Entertainment (LYV), Applied Optoelectronics (AAOI), Vale S.A. (VALE), Copart (CPRT), Insulet (PODD), EOG Resources (EOG), VICI Properties (VICI), Rocket Companies (RKT) Friday, Feb. 23 Before the bell: Warner Bros. Discovery (WBD), Bloomin' Brands (BLMN), AerCap Holdings N.V. (AER), Docebo (DCBO), Diana Shipping (DSX), NW Natural Holdings (NWN), Calumet Specialty Products Partners, L.P. (CLMT), Frontier Communications Parent (FYBR) (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. Jensen Huang, President of NVIDIA holding the Grace hopper superchip CPU used for generative AI at supermicro keynote presentation during the COMPUTEX 2023. Walid Berrazeg | Lightrocket | Getty Images

https://www.cnbc.com/2024/01/29/stocks-making-the-biggest-moves-midday-dollar-tree-irobot-bloom-energy-and-more.html

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Builders FirstSource

Stocks making the biggest moves midday: Dollar Tree, iRobot, Bloom Energy and more

Check out the companies making headlines in midday trading. McGrath RentCorp — Shares jumped nearly 11% after WillScot Mobile Mini, an equipment rental company, said it would buy McGrath RentCorp in a $3.8 billion cash-and-stock transaction. Dollar Tree — Shares of the discount retail chain rose 0.8% following an upgrade to overweight from neutral at JPMorgan. As catalysts, the bank cited a larger total addressable market and higher profitability. SoFi Technologies — Shares of the financial services provider surged 20.2% after the company reported its fourth-quarter financial results. SoFi posted earnings of 2 cents per share, beating Wall Street estimates by 2 cents, according to LSEG, formerly known as Refinitiv. It also reported $594.2 million in revenue, while analysts anticipated $571.8 million. iRobot — The Roomba maker slumped 8.7% after agreeing to terminate its planned merger with Amazon , citing "no path to regulatory approval." iRobot also said it would cut 31% of its staff, or about 350 employees, and that its CEO has stepped down. Amazon shares inched up slightly. Western Digital — The memory chip maker gained 2.6% following reports on Jan. 27 that Bain Capital is restarting discussions to facilitate a merger between Western Digital and Japan-based Kioxia Holdings. Bloom Energy — The green energy stock declined more than 4%. Bank of America downgraded shares to underperform from neutral on flat revenue projections between 2023 and 2025. ZoomInfo Technologies — Shares jumped more than 6% after Bank of America upgraded shares to buy from neutral on revenue growth acceleration. Analyst Koji Ikeda named new artificial intelligence products as potential tailwinds. Hershey — Shares gained 1.3% after AllianceBernstein upgraded the chocolate maker to outperform from market perform. The firm cited tailwinds including improving market share and volume trends, as well as an attractive valuation and strong top-line growth. Warner Bros. Discovery — Shares of the media and entertainment company fell more than 1% after Wells Fargo downgraded Warner Bros. to equal weight from overweight. The Wall Street firm said the company's networks business is under pressure from ratings declines and subscription cancellations, while its HBO slate should be much stronger this year. Flywire — Shares of the fintech company gained around 3.9% after being upgraded by Morgan Stanley to overweight from equal weight. The bank said it is optimistic Flywire can sustain its growth rates. Builders FirstSource — The building products supplier popped 4.1% on the back of a Bank of America upgrade to buy from neutral. The firm said the company is well-positioned in an environment with improved single-family starts, increasing lumber prices and a need for more value-add services in the homebuilding industry. Beam Therapeutics — Shares jumped 16.5% Monday after JPMorgan upgraded the biotech stock to overweight from neutral and upped its price target on the stock, saying current levels are at an "attractive entry point." The firm thinks Beam should benefit from increased market share, commercial opportunity and a strong gene therapy pipeline particularly in AATD, which is a genetic condition that predisposes an individual to chronic obstructive pulmonary disease and liver disease. — CNBC's Samantha Subin, Yun Li, Michelle Fox, Alex Harring, Lisa Kailai Han, Sarah Min, Pia Singh and Tanaya Macheel contributed reporting.

https://www.cnbc.com/2024/03/27/remote-workers-get-up-to-30percent-pay-increase-for-switching-to-in-office-jobs-says-new-research.html

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Builders FirstSource

Remote workers could earn up to 30% more if they come in to the office 5 days a week, research shows

Getting people back to the office comes with a steep price tag — and those willing to swap their remote job for working in an office full-time could see the biggest change in their paychecks. Salaries for fully in-office roles are climbing in the United States. Companies are offering an average $82,037 for in-person roles, a nearly 40% jump from what these roles paid in 2023 ($59,085), according to ZipRecruiter data provided to CNBC Make It. Wages for remote and hybrid jobs haven't grown nearly as much. As of March 2024, hybrid roles pay $59,992 on average, in 2023, that number was $54,034, ZipRecruiter reports. Remote jobs now pay $75,327, but in 2023, they paid an average $69,107. ZipRecruiter's research is based on job listings from its platform and survey responses from more than 1,500 U.S. adults who started new jobs in 2023. Those who switched from a remote job to an in-office job last year received a 29.2% pay bump — nearly double that of those who left an in-person job to work remotely. By comparison, job switchers who leave one remote role for another receive a 22.1% pay bump, while those who switch between in-office roles see a 23.2% increase in their salaries. Johnny Bui, 25, left his remote consulting job in October 2023 for a hybrid position at the same level and is earning 33% more in his new role. Bui, who works as a product analyst at Visa out of their Austin, Texas office, says he was happy to sacrifice the ability to work from home full time for better pay. Given how competitive the job market has been in recent months — especially for remote roles — Bui says it's a "fair trade-off." "People have gotten used to working remotely since the start of the pandemic to the point where it's become a habit, and habits are difficult to get rid of," he says. "At the same time, a lot of people are motivated monetarily, so I think higher pay is a smart incentive to get people back to the office. It at least sweetens the pot." Interest in remote work remains strong even as fewer employers offer it. Despite making up less than 10% of all job postings in the U.S., remote jobs receive nearly half (46%) of all applications, according to recent research from LinkedIn. Wage increases for in-person jobs coincide with more companies cracking down on enforcing their return-to-office mandates. A whopping 90% of companies plan to implement some type of return-to-office policy by the end of 2024, an August 2023 Resume Builder survey found. Nearly 30% say their company will threaten to fire employees who don't comply with in-office requirements. While some companies are taking more punitive approaches to enforce return-to-office mandates, others are using bigger paychecks as a tool to lure workers back to their desks. "If employers can't compete on flexibility, they're having to compete more aggressively on pay," says Julia Pollak, ZipRecruiter's chief economist. "The hope is that better pay might be enough to draw people back to the office," she adds. It could work. Employees who split their time between home and the office say the top work perk that would get them to come in more is their company covering commuting costs, according to a recent report from videoconferencing company Owl Labs. Giving workers higher salaries to offset the cost of commuting is one way to meet that demand, Pollak points out. Some companies might also be using better compensation to improve retention. Turnover remains high in industries with fewer remote opportunities, including transportation, manufacturing, health care and leisure and hospitality. "There's still quite a lot of churn in the industries where in-person work is more common," says Pollak. "Employers in these fields might have experimented with short-term solutions to recruit more workers like sign-on bonuses or additional paid time off to get talent in the door, but those are just Band-Aids." She continues: "It seems like more employers are realizing that you need long-term strategies, whether it's improving salaries or introducing better health-care packages, to hold on to your best workers." It's too soon to tell if higher salaries will be enough to convince people to choose an in-office job over a remote offer. Several studies have shown that people are willing to take a pay cut to work remotely. Want to land your dream job in 2024? Take CNBC's new online course How to Ace Your Job Interview to learn what hiring managers are really looking for, body language techniques, what to say and not to say, and the best way to talk about pay. CNBC Make It readers can save 25% with discount code 25OFF.

https://www.cnbc.com/select/best-savings-account-bonuses-2/

BLDR

Builders FirstSource

The best savings account bonuses and promotions of February 2024: Earn up to $400 or thousands of airline miles

Compare offers to find the best savings account Bask Bank Bask Mileage Savings Account Learn More Bask Bank and BankDirect are divisions of Texas Capital Bank, Member FDIC. Annual Percentage Yield (APY) Earn 2.5 American Airlines AAdvantage® miles for every $1 saved annually instead of interest. Minimum balance None Monthly fee None Maximum transactions Up to 6 free withdrawals or transfers per statement cycle *The 6/statement cycle withdrawal limit is waived during the coronavirus outbreak under Regulation D Overdraft fees N/A Offer checking account? No Offer ATM card? No Terms apply. Pros Earn American Airlines AAdvantage miles instead of cash No minimum balance No monthly fees Cons No option to add a checking account No ATM access Learn More View More Bonus: 10,000 American Airlines AAdvantage® bonus miles Expiration: May 31, 2024 How to earn the bonus: New Bask Mileage Savings Account holders must open a Bask Mileage Savings Account between March 1, 2024 and May 31, 2024, fund the account within 15 business days of opening, and maintain a minimum daily account balance of $50,000 for 90 consecutive calendar days out of the first 120 days following the initial account opening. [ Jump to more details ] BMO Bank BMO Savings Builder Account Learn More BMO Bank is a Member FDIC. Annual Percentage Yield (APY) 0.01% APY Minimum balance $0.01 and above Monthly fee None Maximum transactions No transaction limits Overdraft fees Not applicable to savings account Offer checking account? Yes Terms apply. Pros Low minimum balance No monthly fee No transaction limits No overdraft fees Offers a checking account as well Cons Low APY Learn More View More Bonus: $5 to $60 Expiration: N/A How to earn the bonus: New account holders of the BMO Savings Builder Account get an extra $5 every month they save $200 or more, for the first year; earn up to $60 in your first year. [ Jump to more details ] PNC Bank Virtual Wallet® from PNC Bank Learn More PNC Bank is a Member FDIC. Annual Percentage Yield (APY) Up to 4.00% APY on select Virtual Wallet Growth accounts with relationship rates Minimum balance Varies depending on Virtual Wallet account Monthly fee Ranges from $7 to $25 depending on Virtual Wallet account, with options to waive Maximum transactions Up to 6 free withdrawals or transfers per statement cycle Excessive transactions fee None Overdraft fee Overdraft protection offered by your Reserve and Growth accounts Offer checking account? Yes Offer ATM card? Yes, if have a PNC Bank checking account Terms apply. Pros New account holders can earn a welcome bonus of up to $400 Virtual Wallet includes individual checking and savings accounts that work together Earn cash or points through PNC Purchase Payback® program Reimbursable non-network ATM fees Account holders can choose the Virtual Wallet best for them Options to waive monthly maintenance fee Higher APY relationship rates are available Cons Has monthly maintenance fees Have to call PNC Bank to find out APY offered in your area Learn More View More Bonus: $100, $200 or $400 How to earn the bonus: New Virtual Wallet® from PNC Bank account holders earn $100 when they make direct deposits of $500 or more to their new Virtual Wallet, $200 when they make direct deposits of $2,000 or more to their new Virtual Wallet with Performance Spend and $400 when they make direct deposits of $5,000 or more to their new Virtual Wallet with Performance Select. All direct deposits must be made within the first 60 days. [ Jump to more details ] SoFi SoFi Checking and Savings Learn More SoFi Bank, N.A. is a Member FDIC. Annual Percentage Yield (APY) Members with direct deposit earn 4.60% APY on savings, no minimum balance needed. Members without direct deposit earn 1.20% APY on savings balances, and everyone earns 0.50% APY on checking balances. Welcome bonus Earn a $300 welcome bonus when you direct deposit a total of $5,000 or more within 25 days of your first direct deposit. Get a $50 welcome bonus when you direct deposit between $1,000 and $4,999.99 within 25 days of your first direct deposit. Fees No monthly fee and no excessive transaction fees. No-fee overdraft protection No-fee Overdraft Coverage up to $50 for SoFi members with $1,000 or more in total monthly direct deposits. Purchases exceeding $50 are declined. Offer ATM card? Yes, this account offers a debit card that allows purchases and ATM withdrawals. Terms apply. Offer checking account? Yes, bundled with savings account. Maximum transactions Up to 6 free withdrawals or transfers per statement cycle. Transaction amount limits apply. Pros A welcome bonus of $300 with direct deposit totaling $5,000 or more within 25 days of your first direct deposit. Or a welcome bonus of $50 with direct deposit totaling between $1,000 and $4,999.99 within 25 days of your first direct deposit Strong 4.60% APY with direct deposit No minimum balance or deposit needed No monthly fees Comes with checking account and ATM access Receive your pay check in your account up 2 days early automatically when set up direct deposit Save change automatically with Roundups and set savings goals with Vaults No foreign transaction fees FDIC insurance up to $2 million through the SoFi Insured Deposit Program Cons Non-direct deposit APYs are low compared to other high-yield savings accounts No reimbursement for out-of-network ATM fees No physical branches Learn More View More Bonus: $50 to $300 Expiration: June 30, 2024 How to earn the bonus: SoFi Checking and Savings account holders who sign up and set up direct deposit can get a cash bonus of up to $300. Direct deposits must be made within a 25-day bonus period. [ Jump to more details ] TD Bank TD Bank Personal Savings Accounts Learn More TD Bank is a Member FDIC. Annual Percentage Yield (APY) APYs vary depending on TD Bank Signature Savings account or TD Bank Simple Savings account Minimum balance Minimum balances required to waive monthly fee depends on TD Bank Signature Savings or TD Bank Simple Savings Monthly fee Monthly fee depends on TD Bank Signature Savings or TD Bank Simple Savings, with options to waive Maximum transactions Up to 6 free withdrawals or transfers per statement cycle Overdraft fees Savings Overdraft Protection available for checking account Offer checking account? Yes Terms apply. Pros Chance to score higher APY with TD Bank Signature Savings Options to waive monthly fees Overdraft protection Offers a checking account as well Cons Low APY generally Learn More View More U.S. Bank U.S. Bank Standard Savings Learn More U.S. Bank National Association is a Member FDIC. Annual Percentage Yield (APY) 0.01% APY Minimum balance $25 to open Monthly fee $4 per month, with options to waive Maximum transactions Up to 6 free withdrawals or transfers per statement cycle Excessive transactions fee N/A Overdraft fees Overdraft protection when you link your savings account to your checking account Offer checking account? Yes Offer ATM card? Yes, if have a U.S. Bank checking account Terms apply. Pros Lower-than-average fees for a brick-and-mortar savings account Low monthly maintenance fee, plus option to waive with $300 minimum daily balance Low minimum deposit to open an account Up to 6 free withdrawals or transfers per statement cycle Cons Has monthly maintenance fees (although lower than others) Low APY Learn More View More Bonus: $200 Expiration: June 27, 2024 How to earn the bonus: New account holders of the U.S. Bank Standard Savings account earn $200 when they deposit at least $3,000 to $4,999.99 within 90 days of opening an account and enrolling in online banking or getting the U.S Bank app, and make at least two qualifying direct deposits. [ Jump to more details ] More on our top savings account bonuses Bask Mileage Savings Account The Bask Mileage Savings Account stands out for offering interest in the form of American Airlines AAdvantage miles instead of the standard cash bonus model. You can use these miles for flights on American Airlines or any of its 20+ partner airlines. Annual Percentage Yield (APY) Earn 2.5 American Airlines AAdvantage® miles for every $1 saved annually instead of interest. Minimum balance None Monthly fee None [ Return to account summary ] BMO Savings Builder Account While the BMO Savings Builder Account offers a relatively low APY, it motivates you to not touch your savings since you get rewarded every month during your first year if you maintain a minimum of $200 in savings. Annual Percentage Yield (APY) 0.01% APY Minimum balance $0.01 and above Monthly fee None [ Return to account summary ] Virtual Wallet from PNC Bank The Virtual Wallet® from PNC Bank stands out for offering one of the highest cash bonuses of $400 for a relatively doable direct deposit requirement of $5,000. Depending on which Virtual Wallet you choose, you can also score a pretty good interest rate on your savings. Annual Percentage Yield (APY) Up to 4.00% APY on select Virtual Wallet Growth accounts with relationship rates Minimum balance Varies depending on the Virtual Wallet account Monthly fee Ranges from $7 to $25 depending on the Virtual Wallet account, with options to waive [ Return to account summary ] SoFi Checking and Savings SoFi Checking and Savings offers checking and savings features all in one, making the task of managing your finances a bit easier. And not only does this account offer the highest savings interest rate currently on this list, but its checking account also accrues interest. The only requirement to get the higher APY on your savings is to set up direct deposit. Annual Percentage Yield (APY) Members with direct deposit earn 4.60% APY on savings and Vaults balances and .50% APY on checking balances; members without direct deposit earn 1.20% APY on savings and Vault balances and 0.50% APY on checking balances. Minimum balance None Monthly fee None [ Return to account summary ] TD Bank Personal Savings Accounts The TD Bank Personal Savings Account stands out for offering two different types of personal savings accounts, depending on how big your balance is. With Simple Savings, your monthly fee can easily be waived by maintaining a $300 minimum daily balance, and with Signature Savings, you have the chance to score a higher interest rate with a larger deposit. Annual Percentage Yield (APY) APYs vary depending on TD Bank Signature Savings account or TD Bank Simple Savings account Minimum balance Minimum balances required to waive monthly fee depends on TD Bank Signature Savings or TD Bank Simple Savings Monthly fee Monthly fee depends on TD Bank Signature Savings or TD Bank Simple Savings, with options to waive [ Return to account summary ] U.S. Bank Standard Savings The U.S. Bank Standard Savings account is ideal for those who prefer to do their banking with brick-and-mortar banks and want to be rewarded for having larger balances. Annual Percentage Yield (APY) 0.01% APY Minimum balance $25 to open Monthly fee $4 per month, with options to waive [ Return to account summary ] FAQs What is a savings account bonus? A savings account bonus is essentially free cash or some other offering (i.e. bonus airline miles like with Bask Bank) that a bank will advertise, usually as an incentive for new customers to sign up. There are often qualifications to "earn" the bonus, which may include things like setting up direct deposit or meeting a specified minimum balance within a certain time frame. When are savings account bonuses offered? Savings account bonuses are offered sort of at random. They are typically labeled as promotions that don't last long (which is why many have an expiration date), so if you see one that catches your eye you're best off acting quickly. Should I open a savings account for the bonus? You shouldn't always open a savings account just for the bonus. Know that bonus offer amounts can range, and higher-end bonuses tend to require a higher deposit of cash. Make sure to read the fine print to understand all the requirements needed to get the bonus cash, as well as understand any ongoing account fees like monthly maintenance costs. It's important to weigh the fees and other factors like interest rates before signing up for any new bank account. Which bank has the highest welcome bonus? At the time of writing this article, the banks with the highest savings welcome bonuses are PNC and U.S. Bank, which both offer up to a $400 bonus. Bottom line These savings accounts offering welcome bonuses up to $400 or thousands of airline miles can be a good option to move your money to, just make sure you read the qualifications beforehand. Subscribe to the CNBC Select Newsletter! Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here. Why trust CNBC Select? At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every savings account review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of banking products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best savings accounts. Our methodology To determine which consumer savings accounts provide the best place to deposit your money and earn a bonus, CNBC Select analyzed dozens of U.S. savings accounts offered by the largest national banks, credit unions and online-only financial institutions. In addition to looking at savings account bonuses, we considered the requirements to earn their bonuses, plus any account fees, perks and interest rates offered. All the accounts included on this list are FDIC- or NCUA-insured of up to $250,000. This insurance protects and reimburses you up to your balance and the legal limit if your bank or credit union fails. Product and feature availability vary by market, so these accounts and bonuses may not be offered depending on where you live. Most brick-and-mortar banks require you to enter your zip code online for the correct account offerings. The rates and fee structures for savings accounts are subject to change without notice. Any return on your savings depends on any associated fees and the balance in your savings account. To open a savings account, most banks and institutions require a deposit of new money, meaning you can't transfer money you already had in an account at that bank. Catch up on CNBC Select's in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date. * SoFi members with direct deposit can earn up to 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.60% APY for savings. Members without direct deposit will earn up to 1.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/12/23. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. 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/2024/01/01/the-2023-stock-winners-investors-should-let-ride-sell-or-hedge-in-the-new-year.html

BLDR

Builders FirstSource

The 2023 stock winners investors should let ride, sell or hedge in the new year

Two centuries ago one of the first economists, David Ricardo coined the still famous investment adage "Let your profits run (on)." Makes sense. All else equal, one would prefer to own or buy stocks in uptrends, and there have been some exceptional uptrends this year. Thirty-six Russell 1000 stocks are up more than 100%. What would Ricardo have done with his winners if he had options to trade? Here's my take. Let 'em ride: Several of 2023's best-performing stocks were grossly undervalued at the beginning of the year. In some cases for reasons that were easily identifiable both then and now. Arguably the best example is Meta . At its November 2022 low Meta traded down to $90 a share, less than 7 times the $13.71 in adjusted eps the company earned in FY2021. Although revenue growth paused in 2022 the company had a very strong balance sheet and had historically been a free cash flow generating powerhouse. The problem was that Mark Zuckerberg was losing billions, throwing money at his vision for the metaverse, and investors were concerned it had become an obsession taking precedence over the best course for the business. Many investors were quite vocal about their displeasure, but voicing their concerns was all they could do because Zuckerberg controls more than 50% of the voting rights through a special class of shares. So while investors recognized the company could deliver massive earnings and free cash flow, they were afraid Zuckerberg had gone off the reservation. Eventually, though he did elect to moderate his spending on his ambitious visions. The company has returned to record profitability and free cash flow generation and the stock has responded in kind, up 140% since the November 2022 low. While certainly not as cheap as it was a year ago, Meta remains cheap at not because it is trading at 20 times FY2024 EPS estimates of $18 a share, but because that represents 20% annual EPS growth. The stock sports topline growth, substantial margins, a strong balance sheet, substantial free cash flow, and a moat around its business. META's biggest threat is itself, and as long as management doesn't go back down the rabbit hole, it is a poster child for growth at a reasonable price (GARP). Other big winners for 2023 that remain well positioned for 2024 as long-term rates have dropped while unemployment has remained low include Vertiv Holding , Builders Firstsource , Topbuild Corp , and PulteHome . Nvidia and Uber are too, even despite the huge runs they've had at reasonable valuation given their respective growth rates, but bear in mind that some investors may have deferred taking gains in these and other large winners for tax reasons. Due to this and their high betas, any market choppiness in the market generally will affect these names more severely. It's time to hedge some of those gains (or take profits): The second best-performing stock in the Russell 1000 for 2023 is Coinbase (COIN) . As of year-end 2022, COIN was down more than 90% from its November 2021 peak. Investors shunned the stock as cryptocurrencies had plummeted. Bitcoin, the most well-known cryptocurrency, had fallen more than 76% from peak to trough, and it would be reasonable to assume that if cryptocurrencies continued to perform badly, speculators would trade them less often which would hurt the business of a crypto exchange. It did. Revenues fell nearly 60% year-over-year between FY2021 and FY2022. The company, which had made $21 in adjusted EPS in 2021, swung to a $6.63 a share loss. Unsurprisingly, as cryptocurrencies rebounded in 2023, so did COIN. What's surprising though is the degree to which it rebounded. Where bitcoin rose > 150%, COIN is up over 400%. Some businesses are indeed highly leveraged to prices for other goods or assets. Gold miners' prices are levered to the price of gold, oil companies to the price of oil, chip makers like MU to the price of NAND and DRAM and cryptocurrency miners and exchanges to the prices of the cryptocurrency. The issue I have with Coinbase is that despite the sharp increase in cryptocurrency prices, revenues and earnings have not rebounded in quite the same way. FY2024 revenue expectations of 2.9 billion are more than 60% below the company's zenith in 2021 of $7.8 billion. The company is expected to report FY2023 losses of 89 cents share. Street estimates are not forecasting a return to profitability until 2027. Why not? How is it that cryptocurrency prices can rebound so sharply and the company cannot return to the same level of profitability they saw in 2020 when the price of bitcoin for example was far lower than it is today? If I believed that Coinbase could reliably generate $4.7 billion in net income as it did in 2021 this thing would be ludicrously cheap, but it feels as if the landscape is shifting beneath the company's feet. Other companies I place in this category include Roku and SoFi . The single best-performing stock in the Russell 1000 for 2023 is Affirm , up nearly 420% year-to-date. Affirm Holdings is a popular buy now, pay later fintech company. How popular? It's growing topline at greater than 20%. Its popularity is understandable. In some cases, it offers purchases at zero interest, considerably more attractive than using a high-interest credit card. Additionally, these loans aren't currently reported to TransUnion or Equifax, so the impact of taking the loan on the borrower's credit score may be reduced, and in any case, borrowers may wish to preserve available credit lines for other uses. Likely, the company's partnerships with big online outlets such as Amazon and Walmart are going to show substantial gains during this holiday shopping season. The market opportunity is also substantial relative to the company's size. At $15 billion in market capitalization, Affirm is still tiny. To put things in perspective, the combined market capitalization of Visa and Mastercard is nearly $1 trillion. Paypal is nearly $70 billion. The problem here is that the idea of buy-now-pay-later isn't proprietary. Affirm is likely to face competition from other payment players. Charge-offs remain low, but we know that consumer credit balances have been rising steadily and are now at all-time highs. Auto loan delinquencies have also been rising. If the other large credit agencies TransUnion or Equifax eventually join Experian and begin tracking these loans, that would eliminate a perceived benefit by consumers. Ultimately though it comes down to a question of whether I would prefer to own money-losing Affirm based on their topline growth, or profitable Paypal for 1/10th the multiple betting they'll catch on to the portions of Affirm's business that are growing. If you own, but don't want to sell, consider purchasing the March $45/$35 put spread as a particle hedge, as illustrated below. The answer is simple, I'd much rather own PayPal (or the major credit card companies). Other names I place in this category include Palantir Technologies . Here too is a company that is growing, but it's unclear whether the growth targets may be a bit ambitious. Palantir relies heavily on government contracts, greater than 56% by revenue. Government business can be great, but it does introduce concentration risk as that segment of their revenue share indicates. One final thing: hedge when you can, not when you have to. As I write this the VIX Index closed at 12.45, only narrowly higher than the 12.07 low for the year on December 12th while the S & P 500 is just slightly below its record high set on January 3, 2022. DISCLOSURES: THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.

https://www.cnbc.com/2018/11/30/michael-jacksons-thriller-anniversary-still-all-time-best-seller.html

BG

Bunge Global SA

Michael Jackson's iconic 'Thriller' is 36 today — and it's still the world's best-selling album

Thirty-six years ago, Michael Jackson released an album that cemented his status as the world's biggest pop star. "Thriller," released on November 30, 1982, went on to become the world's best-selling music album in history. The iconic album, featuring hits like the title track as well as "Beat It" and "Billie Jean," has sold over 33 million copies, and counting, in the United States alone, according to recent numbers from the Recording Industry Association of America. While the Eagles album "Their Greatest Hits 1971-1975" recently passed "Thriller" in terms of all-time American sales (with 38 million, according to RIAA), Jackson's classic album is still recognized as the best-selling album ever in terms of global sales. While estimates vary, "Thriller" is said to have sold at least 66 million copies globally, according to the Guinness World Records, while others have claimed the album has sold over 100 million copies worldwide. What is clear is that the release of "Thriller" kicked off a period of massive earnings for Jackson, with Forbes reporting that the "King of Pop" pulled in $134 million (from album sales, touring and other sources) in just the two years following the album's release. In total, Jackson earned over $1.1 billion during his lifetime, according to Forbes, which also noted that the singer's estate continues to collect massive amounts of posthumous cash ($700 million in the first five years after Jackson's 2009 death, the publication reported in 2014). While a classic album like "Thriller" obviously was, and continues to be, a major earner for Jackson and his estate, the singer also made money by staying busy through a variety of ventures, from a clothing label to endorsements for brands like Pepsi.

https://www.cnbc.com/2021/10/11/shark-tank-kin-apparel-satin-lined-hoodie-brand-makes-200000-deal.html

BG

Bunge Global SA

This 26-year-old started a hoodie company with $500 — now she has $350,000 in annual sales and a six-figure 'Shark Tank' deal

As Philomina Kane tells it, stress was making her hair fall out. Eight years ago, Kane was an undergrad student at Princeton University majoring in biology — and the pressure was getting to her. So she cut off all her hair, and as her natural hair regrew, her head needed some additional comfort and protection. "I found myself always putting a scarf on before putting a hoodie on," Kane said on Friday's episode of "Shark Tank" on ABC. "One day I was like, you know what, I'm going to make satin-lined hoodies." Last year, the 26-year-old from the Bronx, New York, started Kin Apparel with just $500. This year, her start-up has already generated $355,000 in sales, Kane said. And on Friday's episode, Kane landed an additional $200,000 from Shark Lori Grenier and guest Shark Emma Grede, in exchange for 30% of her company's equity.

https://www.cnbc.com/2015/12/22/commodities-trader-noble-sells-farm-stake-to-chinas-cofco-for-750m.html

BG

Bunge Global SA

Commodities trader Noble sells farm stake to COFCO for $750M

Embattled commodities trader Noble Group said Wednesday it has reached an agreement to sell its 49 percent stake in Noble Agri to Chinese state-owned giant COFCO International for $750 million. The sale comes a month after ratings agencies Moody's and Standard and Poor's said they were reviewing the company's investment grade rating due to liquidity concerns. Noble chief executive Yusuf Alireza said in November that the company was seeking to raise $500 million through asset sale and strategic transactions, so the cash deal with Cofco ensures that Noble has "comfortably exceeded its commitment", the company said in a press release. The entire proceeds of the disposal will be used to pay down debt, the company added. Noble shares surged as much as 5.7 percent Wednesday on news of the sale. "After completion of this transaction, Noble Group's financial metrics will be well in excess of those required of an investment grade credit," the company said

https://www.cnbc.com/2021/11/07/photos-new-york-city-condo-featured-in-hbos-succession-for-sale.html

BG

Bunge Global SA

The 'Succession' condo is on sale for $23.3 million — look inside

The billionaire-worthy condo that serves as "Succession" main character Kendall Roy's (Jeremy Strong) makeshift headquarters to take over his family's media empire is on the market — for $23.3 million. The luxury Manhattan condo featured on season three of the HBO series is located at 2 Park Place at the Woolworth Tower Residences in the swanky Tribeca neighborhood, according to listing agent Stan Ponte, a global real estate advisor at Sotheby's International Realty. The 6,711 square-foot, two-level condo on the building's 29th floor has five bedrooms, four full baths, two powder rooms and a private terrace. It comes with HOA fees of $12,765 per month, and the building's amenities include a 50-foot lap pool, fitness center, wine cellar and wine-tasting room. On the show, the home belongs to Roy's ex-wife, and Roy creates a war room there to plot against his father Logan. The property is a "piece of history," according to Ponte: When the Woolworth Tower's construction was completed in 1913, it was the tallest building in the world, at 792 feet. It was overtaken in 1930 by 40 Wall Street and the Chrysler Building, both also in New York City. In 1966, it was designated a National Historic Landmark by the U.S. National Parks Service. The condo's listed price recently dropped, down $2.6 million from its original listing last year. Take a look inside.

https://www.cnbc.com/2017/05/24/early-movers-tif-low-aap-fgl-intu-bg-shak-rbs-more.html

BG

Bunge Global SA

Early movers: TIF, LOW, AAP, FGL, INTU, BG, SHAK, RBS & more

Check out which companies are making headlines before the bell: Tiffany – The luxury goods retailer beat estimates by 4 cents with quarterly profit of 74 cents per share, but revenue missed forecasts and same-store sales posted an unexpected decline. Tiffany's results were impacted by a drop in spending by both tourists and domestic customers. Lowe's – The home improvement retailer reported adjusted quarterly profit of $1.03 per share, 3 cents below estimates, with revenue also missing forecasts. Same-store sales rose 1.9 percent, below the consensus Thomson Reuters estimate for a 2.9 percent gain. The miss came despite what Lowe's calls a solid macroeconomic backdrop. Advance Auto Parts – The auto parts retailer earned an adjusted $1.60 per share for the first quarter, well short of the $2.17 consensus estimate. Revenue missed Street forecasts, and same-store sales were down 2.7 percent. Advance Auto Parts said its results were affected by calendar timing issues, among other factors. Fidelity & Guaranty – The life insurance and annuity provider agreed to be bought by "blank check" company CF Corp for about $1.84 billion in cash or $31.10 per share. That represents an 8.4 percent premium over Tuesday's close for Fidelity & Guaranty. Intuit - The financial software company beat estimates by three cents with adjusted quarterly profit of $3.90 per share. The maker of TurboTax and other software also saw revenue beat estimates, and it also gave upbeat guidance for the current quarter, in part due to an increase in subscribers for its QuickBooks online service. Bunge – Bunge said it was not in talks with Swiss mining company Glencore, following that company's statement yesterday that it had made an informal approach to the U.S. grain trader about a possible business combination. Shake Shack – Piper Jaffray began coverage of the restaurant chain with an "overweight" rating, with a favorable view of both the company's culture and what it calls a "prudent" pace of development. Royal Bank of Scotland – RBS is struggling to reach a deal to settle an investor lawsuit centered around a capital raise in 2008, according to a Reuters report. A trial has been put on hold on prospects for a settlement. Apollo Global – The private equity firm is advanced talks to buy jobs website CareerBuilder, according to a Reuters report. CareerBuilder is currently owned by Tegna , Tribune , and McClatchy , but those companies want to shed what they consider a non-core asset. Brown-Forman – The spirits producer remains on our watch list this morning following yesterday's CNBC report that Corona beer maker Constellation Brands had made an approach to buy the Jack Daniels producer. Brown-Forman indicated it was not interested in selling. General Electric - Chief executive officer Jeff Immelt is the keynote speaker at the company's GE Electrical Products Group Conference in Florida today, amid a recent slump in the stock price and criticism by Wall Street analysts over the quality of its earnings. The Container Store – The company reported quarterly profit of 17 cents per share, nearly twice the 9 cents analysts had been expecting. The retailer of storage products also unveiled an "optimization" plan that will include an unspecified number of layoffs. Heico – Heico came in 3 cents above estimates with quarterly profit of 53 cents per share, while revenue at the aviation products and services company was slightly short of forecasts. Rowe Price – T. Rowe Price was downgraded to "sell" from "buy" at UBS, saying the soon-to-be-implemented "fiduciary rule" could put pressure on the investment firm's 401(K) business as well as increase its distribution costs.

https://www.cnbc.com/2019/05/02/glassdoor-14-companies-are-hiring-like-crazy-in-may-2019.html

BG

Bunge Global SA

14 companies hiring like crazy right now, according to Glassdoor

Right now there are nearly 5.6 million open job listings in the U.S., giving job seekers plenty of opportunity to find a well-paying new gig. The labor market remains tight with companies competing for talented applicants, pay is up 1.4% year-over-year, bringing the median base pay of a full-time worker to $52,807, according to Glassdoor. If you want a similar or better bump in compensation this year or are simply ready for a fresh start this spring, dust off that resume and claim one of these 5.6 million jobs as your own. Glassdoor analyzed its vast database of job listings and discovered that these 14 companies have dramatically upped their number of open positions this month, indicating that they're on a hiring spree and eager to secure new talent. Take a look: Northwell Health No. of open jobs: 1,621 Hiring in: New Hyde Park, N.Y.; New York, N.Y.; Manhasset, N.Y.; Melville, N.Y Open roles: Associate project manager, associate financial and operations manager, practice reception associate, administrative supervisor, marketing manager, senior business analyst of IT systems, project manager, and project coordinator. What employees say: "Northwell is a wonderful company and they really understand the way patient care is supposed to be delivered. Being able to be part of that experience is one of the best feelings." Boeing No. of open jobs: 1,485 Hiring in: El Segundo, Calif.; Everett, Wash.; Huntsville, Ala.; Annapolis Junction, Md.; Manassas, Va.; Bridgeport, W.Va.; Saint Louis, Mo.; Charleston, S.C. Open roles: Electrical design and analysis engineer, supply base management specialist, aircraft sealer, methods process analyst, wire harness assembler, information technology manager, industrial security specialist, solution architect, support coordinator, procurement facilitator, accountant, and aircraft mechanic. What employees say: "Incredibly smart workforce. Interesting projects with incredibly challenging problems. Great place for a young professional." Enterprise Holdings No. of open jobs: 1,431 Hiring in: Saint Louis, Mo.; Mattoon, Ill.; Staten Island, N.Y.; Lakewood, N.J.; Chandler, Ariz.; Lexington, Va.; Dayton, Ohio Open roles: Reservation sales representative, customer service representative, management trainee, account fleet coordinator, car detailer, senior customer assistance representative, ACE data scientist, compensation analyst, software architect, test automation engineer, and application development manager. What employees say: "It's an awesome company because there are so many different career paths, and my managers have been great with helping me to explore and get promoted into different departments." Sheetz No. of open jobs: 1,426 Hiring in: Raleigh, N.C.; Woodford, Va.; York, Pa.; Statesville, N.C.; Bealeton, Va.; Altoona, Pa.; Winchester, Va. Open roles: Store team member, business analyst, accountant, innovation officer, petroleum trading analyst, facility support technician, and assistant manager. What employees say: "I absolutely love this company. The work is challenging but in a good way, you are very rarely bored when you work at Sheetz." Adobe No. of open jobs: 743 Hiring in: San Jose, Calif.; Seattle, Wash.; Austin, Texas; Lehi, Utah Open roles: Senior product manager of growth, product marketing manager, trust and safety engineer, computer scientist, senior search engineer, director of data science, enterprise architect, project leader of strategic development, sponsorship sales manager, deal desk analyst, and partner manager of U.S.-advertising cloud. What employees say: "Awesome leadership, great benefits and wonderful culture." HP No. of open jobs: 261 Hiring in: Rio Rancho, N.M.; Palo Alto, Calif.; Boise, Idaho; San Diego, Calif.; Corvallis, Ore.; Spring, Texas; Vancouver, Wash.; Houston, Texas Open roles: business operations manager, senior product manager, executive assistant, strategic development manager, design to value program manager, global head of marketing and customer insights, supply chain data engineer, and M&A integration project manager. What employees say: "The people here are wonderful and I personally have a great manager. I get substantial work assignments and have learned a ton since joining." Blue Shield of California No. of open jobs: 196 Hiring in: San Francisco, Calif; El Dorado Hills, Calif.; Woodland Hills, Calif.; San Diego, Calif.; Monterey Park, Calif.; Lodi, Calif. Open roles: Program manager for the Medicare star program, medical informatics analyst, senior manager of digital product management, executive assistant, director of innovation, principal agile coach, financial analyst, senior data operations support developer, and actuary manager. What employees say: "[You have the] ability to make a difference and contribute towards the mission every day. If you are not in the best position to do that, then you can speak to management to do so." Adtalem Global Education No. of open jobs: 192 Hiring in: Miami, Fla; Downers Grove, Ill.; North Brunswick, N.J.; Saint Louis, Mo.; Pearland, Texas; Phoenix, Ariz. Open roles: director of equity and access, chemistry faculty, anatomy and physiology faculty, healthcare compliance administrator, national admissions advisor, maternal health clinical nursing instructor, exam coordinator, and application administrator. What employees say: "The work-life balance has evolved over the years. Currently, they offer remote options and flex work in multiple capacities. They invest in employees' education, and management was supportive while I went back to school."

https://www.cnbc.com/2019/10/10/how-supreme-went-from-small-nyc-skateboard-shop-to-a-global-phenomenon.html

BG

Bunge Global SA

How Supreme went from a small NYC skateboard shop to a $2.1 billion global phenomenon

Supreme is the rare brand that can inspire the same level of extreme devotion from private equity billionaires and streetwear aficionados. The 26-year-old skateboarding and apparel brand is famously shy about publicity and it only has 12 stores around the world. But that doesn't stop throngs of fans and "hypebeasts" (the term for the streetwear-obsessed) from lining up for hours at a time for the mere hint of an opportunity to buy the latest items to have a red and white "Supreme" box logo slapped on them. That's because the brand has managed to amass a growing following even as it's come to symbolize the ultimate in underground cool. It's exactly that sort of rabid loyalty that spurred a reported $500 million investment (for a roughly 50% stake), valuing the company at $1 billion, from The Carlyle Group in 2017. (Supreme is a private company and does not report revenue, but the company was projected to hit $100 million in annual revenue in 2017, the year of the Carlyle investment, Women's Wear Daily reported at the time. Supreme declined interview requests for this article.) Carlyle's investment had some wondering exactly how a marketing-shy skateboard shop with a cult following fits in the portfolio of a private equity giant that's previously invested in the likes of car rental giant Hertz, consulting firm Booz Allen Hamilton and Dunkin' Donuts fast-food chain operator Dunkin' Brands. Now, Denver-based apparel company VF Corp has announced that it is buying Supreme for $2.1 billion -- a deal that will place the trendy streetwear brand under the umbrella of a company that also owns such mainstream apparel brands as Vans, Timberland and The North Face. Starting small Supreme launched in 1994, when designer James Jebbia opened an unassuming skateboard shop-slash-clothing store on Lafayette Street in SoHo, the heart of New York City's hip fashion scene. Jebbia, who had previously worked with skateboarder and designer Shawn Stussy, has said he was drawn to the edgy and effortlessly cool style of the young skaters he knew in the city. The Supreme brand even sponsors a team of professional skaters that originally included skateboarders and actors Justin Pierce and Harold Hunter, who both starred in the 1995 cult classic film "Kids" — a controversial movie that both drew on skating culture and fashion of the mid-90s, while itself influencing both. When the first Supreme store opened, the first employees were extras from the movie "Kids," according to Vogue. Over the past 26 years, the brand has expanded at a snail's pace, reluctant to relinquish Supreme's standing as a symbol of the underground, in-the-know streetwear fashion scene. It was a decade before Supreme opened a second location, in Los Angeles, and today the brand has two stores in New York City, six in Japan and outposts in Paris and London, while a location in San Francisco opened in 2019. Along the way, Supreme's fashion world street cred has been bolstered by high-profile collaborations with the likes of luxury fashion house Louis Vuitton as well as iconic global brands like Nike, Vans and Levi's. "Over the years, they've worked with all kinds of different artists, all kinds of different brands, and it's part of what makes the brand so cool," Justin Gage, a data scientist and streetwear analyst, tells CNBC Make It. Gage adds that Supreme's collaborations with high-end luxury brands like Louis Vuitton and Gucci "really push the boundaries" of how consumers view skateboarding culture. And whether Supreme is releasing a new line of its own apparel and accessories, or if Jebbia's company is dropping new items from its latest big-name collaboration, it's become commonplace for Supreme fans — dubbed "Supreme-heads" — to line up for hours on end outside a store for product release events that sometimes sell out in a matter of minutes. Supreme shoppers at these events will pay anywhere from $30 to $100 for a shirt or a hat, and from $150 to over $450 for a jacket. Joe Migraine (a pseudonym, for privacy reasons) is a Supreme super-fan who also works full-time on the streetwear unit at the website StockX, an online marketplace for re-selling high-end fashion products. Migraine has been collecting clothing and other items made by Supreme since roughly 2011. He recently told CNBC Make It about the rigorous process he had to go through just to secure a spot in line at a recent Supreme product drop event in New York City. "If you want to attend an in-store release ... you have to register online for that in-store release," Migraine says. "Those registries close very, very quickly. It's very, very difficult to register for a drop, generally because so many people are trying to go for it and they will close the page down as soon as it fills up." If you do manage to get registered to attend an event, Migraine continues, you'll likely get a text message confirmation and then Supreme will tell you what time to come to the store to wait in line. "You show up at that time with the credit card and photo I.D. that you used to register. And then you can possibly wait in line for up to three to four hours just to get inside," Migraine says. In this case, Migraine traveled to New York City from his home in Detroit to wait in line for about six hours on a hot August afternoon. He ended up spending about $3,000, he tells CNBC Make It, on a variety of items that included about eight t-shirts, six bags, seven skateboard decks, a few key chains and pins and one Supreme-branded Pyrex measuring cup. Billing himself as the "world's #1 Supreme collector" on an Instagram account where he boasts nearly 140,000 followers, Migraine now owns a massive collection of Supreme products. Supreme collector Joe Migraine displays some of the items he's bought from the brand over several years. Source: Joe Migraine Instagram @joemigraine A cult following, inspiring knock-offs Supreme fans jump through hoops for the opportunity to pay up to $100 for a Supreme t-shirt, nearly $340 for a wool varsity jacket or even almost $200 for a Supreme table tennis set. But what do Supreme-heads do if they can't secure a spot in the line to get those items before they sell out? That's where Supreme's extremely active resale market heats up, with sites like StockX and other resellers listing sold-out items for resale at astronomical markups, like a t-shirt featuring Supreme's simple red box logo that sells for an average price of more than $900 over the past year on StockX. The shirt previously retailed for just over $30 through Supreme. For Migraine, the reason he obsesses over collecting Supreme items over those released by other fashion brands has to do, in part, with his respect for Supreme's backstory, growing its clout from a small skateboard shop to a global brand over decades. He's also enamored with the wide variety of pop culture references touted in many Supreme products, which recently featured shirts paying homage to iconic art-house rockers The Velvet Underground, while past product lines included references to cultural icons ranging from Miles Davis to The Muppets to the artist Jean-Michel Basquiat. "I really think a great aspect of what they're doing is they're educating people. You know, they have a younger audience base and they're educating people on art, on music and on fashion," he tells CNBC Make It. "They're educating the youth of [today] as to what's cool, what's relevant and what they need to know about." In fact, the Supreme brand is so sought after that the company also faces a problem with copyright infringement stemming, in part, from the fact that Supreme was unable to trademark its brand until 2012 due to the brand name's similarity to too many other products and brands with "Supreme" in the title. ("Supreme wasn't meant to be a brand ... It's a good name, but it's a difficult one to trademark," Jebbia told Interview magazine in 2009.) Supreme also won a lawsuit in Italian court in 2018, against a company called "Supreme Italia," which sold what trademark lawyers called "legal fake" products that closely resemble Supreme's products, right down to the red box logos with the word "Supreme." Supreme Italia was forced to withdraw from the Italian market, however it is still selling knock-off Supreme items in other countries, including Spain and China, according to The Wall Street Journal. Marketing research company SEMrush found that Supreme topped its list of brands with the most online searches for fake and replica products in both 2017 and 2018. Managing the hype One explanation for Supreme's popularity with young consumers — enough so to make them line up for hours at a time — has to do with the idea that the brand's products are "emblematic of rebellious youth culture," according to Gage. "I would call it a brand that's heavily integrated with art and culture that tends to drive demand through consumer desire and consumer passion as opposed to explicit marketing." In fact, Supreme barely markets itself at all. "Supreme has become successful in marketing their brand, paradoxically, by not marketing their brand," Gage tells CNBC Make It. "They don't invest in paid marketing at all to the same degree that most apparel or media companies do. What makes them really successful is the community that they're part of and that they've built." However, in its own way, Supreme has found a way to use the brand's own mystique to generate hype that has helped the underground brand gain a global following. "The magic lies in their ability to take word-of-mouth marketing and turn the launches of their products into sort of micro-experiential events," Cliff Sloan, a branding expert and founder of marketing agency Phil & Co., tells CNBC Make It about Supreme. "And that means that people have to go to places, buy tickets, get on lists, end up lining up outside stores. That ends up generating a lot of buzz, a lot of curiosity to the public." Supreme also generates buzz with a never-ending lineup of branded curiosities — items no one would normally expect to see sold by a skateboard or streetwear brand, but when slapped with Supreme's unmistakable red and white logo, they instantly become must-have products for the most ardent Supreme fans. The company has sold everything from Supreme-branded hammers, nunchucks, and kayaks to a Supreme brick (literally a red clay brick stamped with the Supreme logo). Many of those oddball items are still available to buy second-hand online, where a Supreme brick can sell for $130 on StockX. "At some point they realize that their demand is so strong that they can literally manufacture anything and people will still buy it because the brand is so strong," says Gage. The brand even teased a Supreme-branded dirt bike through a partnership with Honda and Fox Racing in 2019. The more random a Supreme item may seem, the more sought after it's likely to be by the biggest Supreme fans. "Some items are easier to get than others, but the ones that are really fun are those ones where they really go out on a limb, whether it's a kayak or a motorcycle or a full sized mountain bike," Migraine tells CNBC Make It about Supreme's most surprising products. "You know, those are the fun ones." Private equity influence?

https://www.cnbc.com/2018/03/21/linkedin-top-companies-to-work-for-in-india-2018.html

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Bunge Global SA

These are the best companies to work for in India, according to LinkedIn

Fast-growing tech companies and professional services firms dominate the list of the best places to work in India in 2018, according to LinkedIn's latest ranking. From homegrown companies to global giants, the leading firms are those that offer staff the opportunity to innovate and repay their efforts with appealing benefits. "Data shows us that an opportunity to work at solving big problems, rewriting the rules of one's industry or simply putting a big name on one's resume could be powerful motivators," said Adith Charlie, LinkedIn's India editor. The "Top Companies" list is based on feedback from LinkedIn's more than 47 million users in India. The study looks at four main pillars: interest in the company; engagement with employees; job demand; and employee retention. It forms part of a LinkedIn's wider annual analysis of its 546 million users, which it has used to determine the top companies to work for across the U.S., the U.K., France, Germany, Australia and Brazil. LinkedIn and its parent company Microsoft were excluded from the research for fairness. Here are the top 10 companies to work for in India: 10. OYO Global headcount: 2,700 Indian budget hotel aggregator OYO has grown quickly since its launch in 2011, and last year moved closer to achieving much-coveted Unicorn status after closing its latest round of funding. As a result, the company is on a hiring spree and looks to take on an additional 2,000 staff in 2018. Successful applicants can expect to have a say in the running of the business, including the design of its office. 9. EY Global headcount: 250,000 EY is an established name in the accountancy world, but it is also taking steps to improve its tech capabilities and is increasingly looking for candidates with data analytics and artificial intelligence backgrounds. Staff at the firm are rewarded with flexible work arrangements and 16 weeks of parental leave. 8. KPMG India Global headcount: 197,263 With a constant stream of high caliber graduates leaving India's top business schools, management consultancy firm KPMG has grown significantly during its 25 years in India. As a firm, it places a heavy emphasis on health and well-being and regularly runs initiatives to encourage staff to address health issues. 7. Alphabet (Google's parent company) Global headcount: 80,110 Tech behemoth Alphabet has long had reputation for asking tough interview questions like, "Estimate the number of tennis balls that can fit into a plane", and "Which do you think has more advertising potential in Boston — a flower shop or funeral home?" The company is said to have scaled back on those kinds of queries, but successful applicants will nevertheless be rewarded with gourmet meals, fitness facilities, and onsite childcare. 6. McKinsey & Company Global headcount: 25,000 Management consultancy firm McKinsey & Company boasts some of India's biggest business brains among its alumni, from Ola's Saikiran Krishnamurthy to Myntra's Ananth Narayanan. The company also places great emphasis on personal development: Under its "Take Time" program, staff are invited to take five to 10 weeks out of work to pursue a personal passion. 5. Anheuser-Busch InBev Global headcount: 200,000 Anheuser-Busch InBev, otherwise known as AB InBev, is the global brewing company behind brands such as Budweiser, Beck's and Stella Artois. But earning a job at this beer mecca is tough: Candidates can expect to go through as many as seven interviews and exercises, according to a Financial Times report. 4. Amazon Global headcount: 566,000 E-commerce giant Amazon is investing $5 billion in India as part of founder and CEO Jeff Bezos's efforts to compete with Flipkart and capture the country's vast and fast-growing population. Part of that spend will go toward recruitment and employee benefits. Current perks include eight weeks of flexible or partial work hours for new parents, and the ability to give six week's paid parental leave to a partner who isn't eligible at their own firm. 3. One97 Communications (Paytm) Global headcount: 17,000 One97 Communications is the parent company of Indian e-payments and e-commerce brand Paytm, which allows customers to make payments through their mobile. The company seeks to reward its fast-growing team by offering stock plans to its top performers. More than 20 Paytm employees recently became dollar millionaires following a secondary sale of stock options. 2. Flipkart Global headcount: 8,000 Indian e-commerce giant Flipkart was set up in 2007 by former Amazon employees Sachin Bansal and Binny Bansal. It now employs 8,000 people. The firm plans to increase its headcount by 10 percent this year, and new employees, or "Flipsters," can expect a treasure hunt on their first day to help them get to know the office. 1. Directi

https://www.cnbc.com/2017/08/11/12-companies-where-you-can-get-hired-immediately.html

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Bunge Global SA

12 companies where you can get hired immediately

Searching for a new job can be stressful. Without the right connections, knowledge or resources, you can easily spend hours looking at different company websites only to find out that they have no open positions. That's why job search platform Glassdoor has created its list of 12 companies that are hiring for a significant number of roles right now — anywhere from several dozen jobs to thousands — to help job seekers steer their search in the right direction. Take a look at the companies below if you're itching to take the next step, and quickly:

https://www.cnbc.com/2021/11/30/how-bed-bath-beyond-ceo-kept-the-company-afloat-after-getting-covid.html

BG

Bunge Global SA

This CEO had to furlough 40,000 employees — and then caught Covid himself. Here's how he kept his company afloat

This story is part of the Behind the Desk series, where CNBC Make It gets personal with successful business executives to find out everything from how they got to where they are to what makes them get out of bed in the morning to their daily routines. When Mark Tritton took the reins as CEO of Bed Bath & Beyond in November 2019, he knew he had a big challenge ahead of him. He just didn't factor in a global pandemic. At the time, the home goods retailer was struggling with years of poor sales, executive shakeups and stock losses. Fixing it was such a daunting task that Tritton, a 56-year-old veteran retail executive, says he took a "deliberate" four-week break before his start date to decompress and ready himself. Five months into the job, Tritton had to shutter the company's 1,500-plus brick-and-mortar stores and furlough its 40,000 employees. Shortly after, he and his wife caught Covid — a particular problem in New York City, where hospitals were overrun daily. At one point, paramedics had to visit their home. "We were very ill," Tritton tells CNBC Make It. "It was an intense period, trying to navigate my own personal health and the health and safety of 40,000 employees at a time." Tritton says he worked while sick, keeping his condition relatively private, constantly reassessing his health with his company's chair to make sure he could still lead effectively. It was his way of trying to keep the company afloat, he says: "[I] couldn't just roll over and go back to bed." Today, Tritton has fully recovered — and, he says, his pre-Covid turnaround plan for the company, including store renovations and new in-house brands, is back on track. As of Tuesday, Bed Bath & Beyond's stock is up to $20.20 per share, significantly above its April 2020 low point of $3.90. Here, he discusses his challenging first day as CEO, working through a Covid illness and the biggest lesson he's learned during the pandemic so far. How Tritton handled his first day as CEO: '[I] met about 2,500 people in one day' It was two years ago, but it feels like five years [ago] with everything we've been through. I remember coming in and understanding the business wasn't performing. I took a deliberate break between roles of four weeks, so I could just decompress and ready myself. I knew I had a big journey ahead of me. The first thing I did was create a welcome video that went out that afternoon. Then, I walked the whole building and introduced myself to about 2,500 people in one day. I literally made myself visible and showed that I was happy and excited to be here. It was an exciting and exhausting moment. People were thanking [me] for coming, so there wasn't like this organ rejection. There was an embrace from day one, which was really meaningful. How Covid spawned a new tradition: 'I've done a video every week, just to connect with people' I remember sitting right where I'm now sitting, in my office. I remember saying, "I think we'll send everyone home for two weeks and see what happens." Then, I did a video and explained to everyone what was going on. Since that week, I've done a video every week, just to connect with people. As a new CEO, I was responsible for the health and safety of my team and this business financially at the same time, and that's a heavy load. You couldn't just roll over and go back to bed. You had to get up every day to fight. Getting up in the morning and furloughing 40,000 team members because you had to shut the doors wasn't easy. You have to find strength and fortitude. I was really stressed, but I also knew that if I sat there and complained about it, I wasn't doing a service to all those who needed me to have a plan to make them safe. On getting sick a few weeks into the pandemic: 'We were lucky to come out of it the right way' At the end of March and the start of April, my wife and I had Covid. We were very ill. There were no drugs. I live in New York, so they were actively encouraging us not to go to the hospital. We were in contact with [doctors via] telemedicine, and we had some paramedics come in and check on us. Mark and Bernadette Tritton in September 2017, at the #BoF500 gala dinner during New York Fashion Week. Dia Dipasupil | Getty Images Entertainment | Getty Images The city was in lockdown. No one knew what was going on. I think it was scary for everyone at that time. We were lucky to come out of it the right way and be healthy. My experience with Covid was very real and very tangible. I think that my commitment to protecting my teams was stronger because it was personal. I understand the pressure this brings both to individuals and businesses. We lost team members [to Covid]. I spoke to their families, and that was heartbreaking. It was hard when people were saying, "This isn't real." Because, you know, it's real. The biggest lesson he's learned from Covid, so far: 'Thinking you can do it all is the biggest mistake'

https://www.cnbc.com/2023/11/10/jim-cramers-top-10-things-to-watch-in-the-stock-market-friday.html

CDNS

Cadence Design Systems

Jim Cramer's top 10 things to watch in the stock market Friday

My top 10 things to watch Friday, Nov. 10 1. U.S. stocks edge up in premarket trading Friday, with S & P 500 futures rising 0.43% at the end of an uneventful week for equities. Bond yields are mainly steady, with that of the 10-year Treasury hovering around 4.5%. West Texas Intermediate crude oil gains roughly 1%, to trade around $76.52 a barrel, but is still on track for its third-straight weekly loss. 2. Club holding Wynn Resorts (WYNN) posts better-than-expected third-quarter results , with adjusted property earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) climbing 206% year-over-year, to $530.4 million. But the stock is down nearly 5% in early trading on investor concerns over an uneven recovery at Wynn's properties in Chinese gambling hub Macao. 3. The fallout over semiconductor firm Arm Holdings (ARM) continues, as Morgan Stanley initiates coverage on the stock with an equal-weight rating and price target of $55 a share. Shares of Arm closed down more than 5% Thursday after the company's revenue guidance fell short of expectations the day prior. 4. Morgan Stanley also initiates coverage on Cadence Design (CDNS) with an equal-weight rating and price target of $260 per share. The software company is Club holding Nvidia 's (NVDA) partner in building chips. 5. JPMorgan raises its price target on Netflix (NFLX) to $510 a share, up from $480, while reiterating an overweight rating on the stock. The bank cites Netflix's ability to further grow revenues in 2024, expand margins and drive multi-year growth in free cash flow. It's the only streaming service to make money. 6. Pharmaceuticals giant Novo Nordisk (NVO) says it will invest roughly $6 billion to boost production in Denmark, including for its GLP-1 weight-loss drug, Wegovy. The announcement comes days after the U.S. Food and Drug Administration approved the use of Club holding Eli Lilly 's (LLY) GLP-1 as an obesity treatment . 7. Deutsche Bank calls Corteva 's (CTVA) 9% post-earnings sell-off this week "overdone." The bank lowers its price target on the agriculture company to $55 a a share, down from $58, but reiterates a buy rating on the stock. 8. JPMorgan downgrades Plug Power (PLUG) to neutral from overweight, while lowering its price target to $6 a share, down from $10. The firm says shares of Plug, which develops hydrogen fuel cell systems, are likely to be range bound over the next several quarters as it clarifies balance-sheet issues. The company owes a lot of money, with $1.7 billion in debt. 9. After Toast (TOST) crashed and burned on the back of its third-quarter results, Baird takes its rating on the stock to outperform from neutral, with an unchanged price target of $18 a share. Do not trust point-of- sale systems. It's a very competitive segment. 10. Multiple firms raise their price targets on Instacart (CART) — including Citi, which goes to $36 a share, up from $34, while reiterating a buy rating on the stock. But I don't get this at all. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free . (See here for a full list of the stocks at 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. My top 10 things to watch Friday, Nov. 10

https://www.cnbc.com/2019/07/22/stocks-making-the-biggest-moves-after-hours-td-ameritrade-and-more.html

CDNS

Cadence Design Systems

Stocks making the biggest moves after hours: TD Ameritrade, Whirlpool, Acadia Pharmaceuticals and more

Check out the companies making headlines after the bell: TD Ameritrade gained nearly 2% in after-hours trading before losing those gains and falling a fraction of 1%. The financial services company reported third-quarter results that beat estimates and announced its CEO Tim Hockey will leave the company in 2020. The company reported adjusted earnings per share of $1.04 on revenue of $1.49 billion. Analysts polled by Refinitiv had expected earnings per share of 97 cents on revenue of $1.47 billion. Whirlpool rose 4.8% — then reversed those gains, falling more than 1% — following the release of the home appliance manufacturer's second-quarter earnings. The company reported adjusted earnings of $4.01 per share on revenue of $5.19 billion, topping analysts' expectations of earnings per share of $3.71 on revenue of $5.03 billion, according to Refinitiv. Whirlpool also raised its 2019 guidance and now expects ongoing diluted earnings per share of $14.75 to $15.50, versus the $14.81 estimated. The company also announced Monday morning it would be recalling tumble dryers in the United Kingdom due to safety concerns. Shares of Acadia Pharmaceuticals dropped more than 13% after the company announced that one of its medicines for patients with schizophrenia failed in a late-stage clinical trial. Cadence Design Systems fell 3.5% despite reporting second-quarter earnings that beat estimates. The design software and systems maker reported adjusted earnings per share of 57 cents on revenue of $580 million. Analysts had expected earnings per share of 53 cents on revenue of $580 million. Intel and Apple ticked up 1.6% and 0.2%, respectively, after the Wall Street Journal reported that Apple is in advanced talks to acquire Intel's smartphone-modem chip business. The two companies discussed the acquisition in April, but stopped when Apple said it would buy Qualcomm's modem chips. The Journal said Monday the deal could be worth as much as $1 billion and could be reached as early as next week. Qualcomm fell 2.4% on the report.

https://www.cnbc.com/2021/08/02/goldman-says-buy-these-quality-stocks-as-fed-uncertainty-potentially-roils-markets.html

CDNS

Cadence Design Systems

Goldman says buy these quality stocks as Fed uncertainty potentially roils markets

The Federal Reserve is moving closer to tapering its massive asset purchases to support the economy, posing a risk to the stock market at record highs. Goldman Sachs said investors should focus on high-quality companies with strong balance sheets until there is more certainty on the central bank's next move. Fed Chairman Jerome Powell last week said substantial economic improvement is needed for the the central bank to start dialing back its easy-money policies. The Fed chief said discussions have started about how to approach scaling back the bond buying, but no decision has been made on the exact timing. Goldman projected the Fed will formally announce the decision to decrease the size of its $120 billion monthly asset purchases at its December meeting and begin tapering in early 2022. Some investors fear that 2013's infamous taper tantrum will be replayed this year. Back then, Fed Chair Ben Bernanke's comments about tapering sparked a 5% drop in the S & P 500 and triggered a 40-basis-point jump in 10-year Treasury yield to 2.6% in just five days. Goldman is advising clients to buy companies with solid balance sheets to ride out the Fed uncertainty. The Wall Street firm's Strong Balance Sheet basket has outperformed the S & P 500 by five percentage points since the beginning of June. "Strategies focused on higher-quality companies have been outperforming recently," Goldman head of U.S. equity strategy David Kostin said in a note. "This trend is likely due in part to uncertainty about Fed policy, decelerating economic growth, and concerns about the growth outlook." The Strong Balance Sheet basket contains 50 S & P 500 companies across eight sectors with high Altman Z-scores. The Altman Z-score is a formula for determining whether a company is headed for bankruptcy as it takes into account profitability, leverage, liquidity and solvency. The list contains megacap tech names like Facebook and Alphabet. Alphabet last week reported earnings that crushed Wall Street's expectations , as it saw dramatic advertising growth amid the pandemic bounce-back. Facebook also beat earnings expectations, but the social media giant warned of growth slowdown ahead. Goldman's basket also includes semiconductor leaders Nvidia and AMD . It also contains a slew of software companies, such as Intuit , Adobe and Cadence Design Systems . Tesla is also highlighted by Goldman. The electric car maker just reported more than $1 billion in net income during the second quarter, up tenfold from a year ago. The stock is about flat this year following a whopping 740% rally in 2020. Traders work on the floor of the New York Stock Exchange. Brendan McDermid | Reuters

https://www.cnbc.com/2021/01/25/chinas-huawei-in-talks-to-sell-premium-smartphone-brands-p-and-mate-.html

CDNS

Cadence Design Systems

China's Huawei reportedly in talks to sell premium smartphone brands P and Mate

China's Huawei Technologies is in early-stage talks to sell its premium smartphone brands P and Mate, two people with direct knowledge of the matter said, a move that could see the company eventually exit from the high-end smartphone-making business. The talks between the world's largest telecommunications equipment maker and a consortium led by Shanghai government-backed investment firms have been going on for months, the people said, declining to be identified as the discussions were confidential. Huawei started to internally explore the possibility of selling the brands as early as last September, according to one of the sources. The two sources were not privy to the valuation placed on the brands by Huawei. Shipments of Mate and P Series phones were worth $39.7 billion between Q3 2019 and Q3 2020, according to consultancy IDC. However, Huawei has yet to make a final decision on the sale and the talks might not conclude successfully, according to the two sources, as the company is still trying to manufacture at home its in-house designed high-end Kirin chips which power its smartphones. "Huawei has learned there are unsubstantiated rumors circulating regarding the possible sale of our flagship smartphone brands," a Huawei spokesman said. "There is no merit to these rumors whatsoever. Huawei has no such plan." The Shanghai government said it was not aware of the situation and declined to comment further. The potential sale of Huawei's premium smartphone lines suggests the company has little hope that the new Biden administration will have a change of heart towards the supply chain restrictions placed on Huawei since May 2019, the two people said. The Shanghai government-backed investment firms may form a consortium with Huawei's dealers to take over the P and Mate brands, according to the second person, a similar model to the Honor deal. Huawei is also likely to keep its existing P& Mate management team for the new entity, if the deal goes through, the two people said.

https://www.cnbc.com/2019/07/23/cramer-remix-acting-on-other-people-advice-is-often-a-sucker-game.html

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Cadence Design Systems

Cramer Remix: Don't rely on another's viewpoint when managing your portfolio

watch now CNBC's Jim Cramer on Tuesday warned viewers about the risks of relying on other people's advice to invest in the stock market. The "Mad Money" host suggests understanding your own investing goals and priorities before deciding to follow the lead of a big-time money manager, pointing to the bearish outlook and "terrifying statements" Bridgewater Associates founder Ray Dalio offered in January. The renowned hedge fund manager's then-assessments on politics, the economic cycle and Federal Reserve's moves in monetary policy "was scary stuff that made you want to sell everything," Cramer said. Nobody's perfect and even the top investor often get it wrong. "As it turns out, though, that would've been a great time not to sell but to buy. And when you look at Dalio's flagship fund at Bridgewater, its performance in the first half was reportedly down 4.9% ...," he said. "And that's fine for him: he's already one of the richest men in the world, he will not miss it." "By all means, listen to these big-time money managers. Get your head into what they're saying, take them seriously, but acting on their advice: that's a sucker's game," Cramer said. "If you want to manage your own money, you can't borrow someone else's worldview. You need to think for yourself. Otherwise, frankly, you might as well just stick your money in an index fund." Catch his full thoughts here Back to the 80s? An employee delivers cases of Coca-Cola Co. brand soda in Miami Beach, Florida. Scott McIntyre | Bloomberg | Getty Images The consumer product companies are gaining momentum reminiscent of the 1980s, Cramer said. Consumer stocks like Coca-Cola and Kimberly-Clark are performing as they did when the United States economy transitioned to a post-industrial one, which allowed a company like Merck to surpass Ford or General Motors in size, according to the host, who was was a stockbroker with Goldman Sachs and later a hedge fund manager during that decade. The major averages all rallied as much as 0.68% during the session Tuesday and, aside from the run in the semiconductor sector, resembled the beginning of the "great bull market" of the 1980s, Cramer said. "These consumer packaged goods stocks haven't run that much versus the techs. They have incredible pricing power, vast untapped markets overseas and terrific dividends," he said. "If I'm right that this is like the 1980s all over again, it means the likes of Coca-Cola and Kimberly-Clark have a lot more room to run." Read more here Some made in China Brian Goldner, CEO of Hasbro. Ashlee Espinal | CNBC Hasbro CEO Brian Goldner, coming of the company's earnings report, appeared on "Mad Money" to discuss how the company plans to relocate production operations out of China and what goals he hopes to achieve. "We do believe by the end of 2020 we can be down below 50%. I should say that 20% of our revenues do come from U.S. manufacturing," Goldner said. "We've added India. We've added Vietnam, and we'll continue to add new geographies and step up." Catch the full interview here King of the snacks Assorted products of Mondelez International. Adam Jeffery | CNBC Cramer crowned Hershey the "king of snacking," but suggested that Mondelez International is the better buy of the two candy producer stocks. With the former set to report earnings on Thursday and the latter slated for next week, the host said he thinks Mondelez has a stronger chance of rallying after results come out. "The bottom line is that Hershey is the better company. That's already baked into when it comes to their stock," he said. "Given how much Hershey's stock has run, I feel much more confident and comfortable buying the stock of Mondelez here." Go deeper here Inside the mind of a shark Daymond John, FUBU Founder & CEO Scott Mlyn | CNBC Shark Tank star and FUBU founder and CEO Daymond John, who gave his thoughts about investing in companies that have an impact on his life, brand management and the competitive advantage in starting a business. Catch the full discussion here Cramer's lightning round: You're not a pig — 'This is not the level to sell eBay'

https://www.cnbc.com/2019/09/06/cramer-lightning-round.html

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Cadence Design Systems

Cramer's lightning round: Neogenomics, Yeti, Nutanix and more stocks

Neogenomics : "Neogenomics is another one of these diagnostic companies that might have something that could work against cancer. I have yet to say no to any of those. I think that it is a good spec ... because that is the holy grail." Yeti : "I am going to say: up 100% for the year, I am not going to push it here. I'm not." Nutanix : "I know that Nutanix is making a little bit of a comeback, but it's too hard for me. I just think that they have to put a couple of quarters together that are good, and they have not done that." Cadence Design Systems : "I'm going to say let's hold off. This stock is overvalued."