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https://www.cnbc.com/2023/05/08/club-meeting-recap-equities-edge-down-estee-lauder-caterpillar.html

CAT

Caterpillar Inc.

Club meeting recap: Equities edge down, Estee Lauder, Caterpillar

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 Monday's key moments. Equities lower ahead of inflation data Watch Estee Lauder Buy Caterpillar 1. Equities lower ahead of inflation data Stocks edged lower Monday morning, as investors look ahead to important inflation data this week. The U.S. consumer price index and producer price index are set to be released Wednesday and Thursday, respectively, potentially informing the Federal Reserve's next move on interest rates. The central bank last week raised rates by 25 basis points, while signaling it could pause hikes going forward. However, stronger-than-expected U.S. jobs numbers for April, released Friday, could force the bank to pursue another rate raise — even as the data pleased investors who have feared a recession is brewing. The S & P 500 was down 0.11%, while the Nasdaq Composite fell 0.22%. Oil prices, meanwhile, climbed more than 2% after losing more than 7% last week. West Texas Intermediate crude was trading at around $73 a barrel. 2. Watch Estee Lauder Nelson Peltz isn't going to do anything with Estee Lauder (EL), the activist investor told Jim Cramer Monday. Jim reached out after a Sunday report in the New York Post claimed Peltz was considering a shakeup at the Club holding. The stock was up some 5% in premarket trading Monday. But most of those gains evaporated ahead of the opening bell and into regular trading on Wall Street. Shares had plummeted 17% on Wednesday after the prestige beauty firm reported a mixed third-quarter , along with dismal guidance. Following its latest weak quarter, Jim warned that Estee Lauder's next report may not be that strong either, as recovery in the Asia travel retail business continues to materialize. 3. Buy Caterpillar Baird on Monday lowered its price target on manufacturing firm Caterpillar (CAT) to $180 a share, from $185, while maintaining an underperform rating on the stock. The firm contends Caterpillar has reached its peak backlog in the wake of the company's first-quarter results late last month However, that's a pessimistic, short-term view. We continue to expect Caterpillar will be a major beneficiary of U.S. government infrastructure spending starting this year, and added to our CAT position Monday. Shares of Caterpillar, down more than 10% year-to-date, were trading mainly flat, at around $215 apiece. (Jim Cramer's Charitable Trust is long AAPL, EL, CAT. 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/2023/02/13/jim-cramers-investing-club-meeting-monday-caterpillar-estee-lauder.html

CAT

Caterpillar Inc.

Jim Cramer's Investing Club meeting Monday: Caterpillar, Estee Lauder, Salesforce

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 Monday's key moments. Buy CAT on a pullback EL set to rise Watch CRM 1. Buy CAT on a pullback Baird on Monday downgraded construction equipment manufacturer Caterpillar (CAT) to neutral from buy, arguing the stock is approaching a "cyclical pivot point" — a call with which we disagree. Not all of the company's upcoming construction projects have been factored into its backlog, meaning there's likely more room for growth. The industrial giant is poised to benefit from the U.S. government's $1 trillion infrastructure spending law , as funds start to be doled out this year. We would be buyers here if not restricted from trading CAT at the moment, and could look to add to our position this week. Shares of CAT were down roughly 0.35% in midday trading Monday, at $246.79 apiece. 2. EL set to rise Estee Lauder (EL) stock climbed roughly 1.6% Monday, $254.22 a share, after Piper Sandler raised its price target on the cosmetics firm to $298 per share from $290. We expect Estee Lauder's inventory overhang in U.S. department stores to ease further, while the firm should continue to gain market share in China, a region that accounts for roughly a third of the beauty company's total revenue. We bought up EL shares last Friday on a pullback on the expectation the stock will continue to rise. 3. Watch CRM Shares of Salesforce (CRM) were up 1.8% on Monday after analysts at Bank of America called the Club holding the next quality "GARP," or growth at a reasonable price stock. The analysts said the company is on a path to expand its annual margins and raised their price target to $200 a share from $180. The enterprise software giant has restructured its business and gotten serious about cost cuts, as activist investors pressure the company to make changes to unlock shareholder value. If the company is able to deliver annual margin expansion, as BofA analysts predict, we believe the stock could go even higher. (Jim Cramer's Charitable Trust is long CAT, EL & CRM. 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/2023/02/13/stocks-making-the-biggest-moves-premarket-fnf-rl-cat.html

CAT

Caterpillar Inc.

Stocks making the biggest moves premarket: Fidelity, Ralph Lauren, Caterpillar and more

Check out the companies making headlines before the bell. Norfolk Southern — Shares slid more than 3% following reports that the Environmental Protection Agency sent the rail company a notice of potential liability over the weekend. The notice was related to last week's explosion and derailment of railcars containing hazardous materials in East Palestine, Ohio. Meta — Shares of the Facebook parent rose 2.6% after the Financial Times reported it is planning a fresh round of layoffs after it last let go of 11,000 employees in November. The company's stock price has soared by more than 44% so far this year. Caterpillar — Shares of the machinery company fell more than 1% after Baird downgraded Caterpillar to neutral from outperform. The investment firm said in a note to clients that Caterpillar is "nearing a cyclical pivot point" and that revenue growth is set to slow. Ralph Lauren — Shares of the apparel retailer were up 2.5% after Bank of America upgraded the stock to buy from neutral, and also raised its price target, saying the brand is differentiating itself among its peers during challenging time. The call follows an upbeat earnings report on Thursday. Fidelity National Information Services — The company shed 8.5% in the premarket. Although it reported a slight earnings and revenue beat, its forecast fell short of expectations. Fidelity anticipates first-quarter adjusted EPS of $1.17-$1.23 versus a StreetAccount estimate of $1.42, and revenue of $3.38 billion to $3.43 billion compared with an expected $3.57 billion. Cadence Design Systems — Shares were up 1.7% in premarket trading ahead of the company's scheduled fourth-quarter earnings release on Monday. Cadence expects to report revenue in the range of $870 million to $890 million. Analysts surveyed by Refinitiv expect the company to earn 92 cents a share on revenue of $884.8 million. — CNBC's Alex Harring, Jesse Pound and Michelle Fox Theobald contributed reporting.

https://www.cnbc.com/2022/07/31/earnings-playbook-how-to-play-the-second-half-of-the-season-with-starbucks-and-caterpillar-on-deck.html

CAT

Caterpillar Inc.

Earnings playbook: How to play the second half of the season with Starbucks and Caterpillar on deck

We're already past the halfway mark of the earnings season, but that doesn't mean the deluge will ease this week. Nearly 150 S & P 500 companies are slated to report, including Starbucks, Uber Technologies and Caterpillar. Companies such as Starbucks and Uber should give investors insight into the global consumer's health, while Caterpillar will give clues on how the world economy is faring in this world of rising rates. So far, the corporate earnings season has been a mixed bag, with companies such as Amazon and Apple easily beating expectations, while others such as Intel widely missed estimates. Through Friday, more than 55% of the S & P 500 had reported earnings. Of those companies, 72% beat analyst earnings forecasts, FactSet data shows. Take a look at CNBC Pro's breakdown of what's expected from next week's biggest reports. Tuesday Caterpillar is set to report earnings before the bell, followed by a conference all with management at 8:30 a.m. ET. Last quarter: CAT posted earnings and revenue that beat expectations. However, the industrial giant warned it that excavator demand in China could fall below pre-pandemic levels in 2022. This quarter: Analysts expect Caterpillar to report double-digit earnings and revenue growth from the year-earlier period, according to Refinitiv. What CNBC is watching: "With recession signals mounting, investors will look for clues in Caterpillar's report that could indicate whether global growth continues to slow down, or if there are signs that a turnaround may be starting. JPMorgan analyst Tami Zakaria noted recently that the firm expects Caterpillar to 'speak positively to demand and order trend in most markets ex-China, which remains fluid.'" What history shows: Caterpillar has reported a better-than-expected profit in each of the last eight earnings days, FactSet data shows. However, Bespoke data shows the stock averages a loss of 0.49% after Caterpillar reports earnings. JetBlue is set to report earnings before the open. Management is slated to hold a call at 10 a.m. ET. Last quarter: JBLU posted a smaller-than-expected loss, but the airline drastically cut its 2022 growth plans , sending the stock down. This quarter: Analysts polled by Refinitiv expect revenue to have jumped on a year-over-year basis, while losses are seen to have narrowed. What CNBC airlines reporter Leslie Josephs is watching: "JetBlue executives are fresh from their victory in beating out Frontier for discounter Spirit , and investors have plenty of questions. Among them: How will JetBlue get a takeover of an airline whose name is synonymous with budget travel past the Biden Justice Department, just as the administration is trying to calm worries about high inflation? The DOJ has already vowed a strong line against any deals that could harm competition and is suing JetBlue and American to block their regional partnership. Additionally, will it hamstring JetBlue operationally or financially JetBlue to convert Spirit's sparse interiors with its own, which feature seatback screens and more legroom. Management will also have to outline how they will digest merger costs while expenses are on the rise, and how willing customers are to continue to pay high fares as the peak summer travel season wanes." What history shows: JetBlue's last seven earnings reports have outperformed analyst expectations, according to FactSet. However, JetBlue shares dropped more than 11% after the company's first-quarter numbers were released. Uber Technologies is set to report before the open, followed by a conference call at 8 a.m. ET. Last quarter: UBER posted a surge in revenue for the first quarter . However, the ridesharing company also reported a massive loss due to equity investments in Grab, Aurora and Didi. This quarter: The company's revenue is expected to have growth by nearly 90% year over year. Uber is, however, expected to report a loss on the bottom line, Refinitiv data shows. What CNBC is watching: "As the global economy continues to recover from Covid-related shutdowns that took place in recent years, investors will look for sign of further improvement in Uber's ridesharing business. Cowen's John Blackledge, who has an outperform rating on the stock, sees gross bookings growing by 31.6% from the year-earlier period." What history shows: Bespoke data shows Uber typically struggles on earnings days, averaging a decline of 1.08%. Starbucks is set to report earnings after the closing bell. Management is expect to hold a call at 5 p.m. ET. Last quarter: SBUX suspended its outlook as Covid lockdowns in China hurt sales . This quarter: The coffee chain's earnings are expected to have fallen sharply from the year-earlier period, according to Refinitiv. What CNBC is watching: "There are several questions facing Starbucks ahead of its latest quarterly report, including how is its international business doing? The company said in May it would exit Russia after 15 years in the country, closing all 130 licensed cafes. Investors will also look for updates on the company's search for a new CEO . In June, interim Chief Executive Howard Schultz said Starbucks was looking externally for its next CEO." What history shows: Starbucks shares averages a gain of 0.56% on earnings days, Bespoke data shows. However, the company only beats earnings expectations 53% of the time. AMD is set to report earnings after the close, and company leadership will hold a call at 5 p.m. ET Last quarter: The chipmaker reported a 71% surge in sales, shrugging off worries over a PC slowdown . This quarter: Wall Street analysts expect sharp year-over-year earnings and revenue growth for AMD, Refinitiv data shows. What CNBC tech reporter Kif Leswing is watching: "AMD is facing two opposing headwinds. First, the PC and server markets which it sells processors to appear to be slowing down after two boom years, according to electronics companies, analysts and earnings reports. That could cap AMD's upside if its primary markets are slowing down. Its main rival, Intel, is stumbling substantially, lowering forecasts for sales and profits. This gives AMD, which has surpassed Intel in performance, a chance to grab market share." What history shows: AMD has been on an earnings tear recently, with FactSet data showing the company has beaten analyst estimates in eight of the past nine earnings days. Airbnb is set to report earnings after the bell, with a conference call scheduled for 4:30 p.m. ET. Last quarter : ABNB posted better-than-expected results, as revenue surged by 70%. This quarter : Analysts expect Airbnb's revenue to nearly double on a year-over-year basis, according to StreetAccount. What CNBC is watching : "Investors will be looking for more signs of a recovery in travel demand. Analysts at Citi, who rate Airbnb as a buy, said in a July 14 note that they expect the company's results to be in line or better than consensus estimates, citing 'continued strengthening of the leisure travel market in most geographic areas and Airbnb's leadership position in Alternative Accommodations that we believe is taking share from more traditional lodging options.'" What history shows : FactSet data shows Airbnb has beaten analyst expectations in the last four quarters. The stock also averages a 7.1% gain on earnings days, according to Bespoke. Wednesday CVS is set to report earnings before the opening bell, followed by a conference call at 8 a.m. ET. Last quarter: The pharmacy operator raised its full-year forecast , as the company's first-quarter earnings beat expectations. This quarter: CVS is expected to report single-digit revenue growth, but earnings are expected to fall about 10%, according to Refinitiv. What CNBC retail reporter Melissa Repko is watching: "As foot traffic for Covid tests and vaccines dissipates, CVS has added a broader array of health-care services to its stores. Investors will listen for updates on that strategy and whether the company has gotten closer to striking a deal with a primary-care provider. That is an especially hot topic after Amazon, a newer player in the health-care space, said last week that it was buying primary-care company One Medical. Retail sales, though a smaller part of its business, may also offer clues about how consumers are responding to inflation." What history shows: Bespoke data shows CVS beats earnings estimates 77% of the time, with the stock averaging a gain of 0.48% on earnings days. Under Armour is set to report earnings in the premarket, with management set to hold a call at 8:30 a.m. ET. Last quarter: UAA offered weak guidance and posted an unexpected loss for the quarter . This quarter: As of Friday, analysts polled by Refinitiv expected the apparel maker to post earnings of 4 cents per share on revenue of $1.351 billion. What CNBC is watching: "Investors will be looking for Under Armour to rebound after the first quarter's disastrous print. However, some analysts think the outlooks for the apparel maker still looks murky. Earlier this month, Jefferies downgraded Under Armour to neutral from buy, noting that the company's fundamentals are " lagging ." What history shows: Under Armour has beaten profit expectations in three of the last four earnings days, according to FactSet. Yum Brands is set to report earnings before the open. Management is expected to hold a news conference at 8:15 a.m. ET. Last quarter: YUM reported weaker-than-expected earnings as lockdowns in China weighed on KFC and Pizza Hut sales . This quarter: Refinitiv data shows analyst expect a small increase in year-over-year revenue along with a decline in earnings per share. What CNBC is watching: "Yum Brands investors will be looking for signs of improvement in the company's international sales, especially China." What history shows: Yum Brands outperforms earnings expectations 84% of the time, Bespoke data shows. The stock averages a gain of 0.36% on earnings days. Robinhood is set to report earnings after the bell, with corporate leadership slated to hold a call at 5 p.m. ET. Last quarter: HOOD reported a revenue decline as well as fewer active users on its platform . This quarter: Robinhood's revenue is expected to have fallen by more than 40% on a year-over-year basis, Refinitiv data shows. What CNBC investing reporter Jesse Pound is watching: "Robinhood's growth has been heading in the wrong direction in recent quarters, in both active users and revenue. It seems unlikely that the company would have made a major reversal in those areas during a rough second quarter for markets, but stabilization could be seen as a positive. Investors will be looking for updates on the growth of Robinhood's crypto wallets business and how management is approaching potential regulation around payment-for-order-flow." What history shows: Robinhood earnings have come in below expectations in each of the past four quarters, FactSet data shows. Thursday Eli Lilly is set to report earnings before the bell, followed by a call at 9 a.m. ET. Last quarter: LLY posted a first-quarter profit that beat analyst expectations. This quarter: Eli Lilly's profits are expected to have fallen by roughly 10% from the year-earlier period, with revenue remaining largely flat, according to Refinitiv. What CNBC is watching: "Investors will be looking for clues on how the company's tirzepatide drug — which was approved earlier this year as treatment against Type 2 diabetes — could help Eli Lilly's top line grow, especially as trial data points to effectiveness in helping patients lose weight." What history shows: Bespoke data shows that Eli Lilly shares typically struggle on earnings days, averaging a decline of 0.45%. Paramount is set to report earnings in the premarket, followed by a call with management at 8:30 a.m. ET. Last quarter: PARA reported strong gains in streaming subscribers, but posted a weaker-than-expected revenue . This quarter: Analysts expect a sharp decline in Paramount's year-over-year earnings, according to Refinitiv. What CNBC media reporter Alex Sherman is watching: "For the past several years, the big story among media and entertainment companies has been streaming subscriber growth. But there's a new headline story for the moment, and that's advertising. Roku said Thursday there's been a significant pullback in the scatter market as companies grapple with a potential recession. Paramount's cable network business and main streaming services (Paramount+ and Pluto) both count on advertising revenue. Investors will be looking for guidance on how much of a decline in ad revenue executives expect in the third quarter." What history shows: FactSet data shows Paramount has missed earnings expectations in two of the past four quarters. Block is set to report earnings after the close, with management set to hold a call at 5 p.m. ET. Last quarter: SQ reported operating earnings that exceeded analyst expectations. This quarter: Refinitiv data shows Block earnings are expected to have taken a massive year-over-year hit. What CNBC is watching: "Investors will be looking for clues on how the payments company's big bet on crypto continues to impact Block, especially given bitcoin's massive losses this year. The digital currency has lost nearly half of its value in 2022." What history shows: The company formerly known as Square beats earnings expectations 77% of the time, according to Bespoke. — CNBC's Michael Bloom contributed to this report.

https://www.cnbc.com/2020/03/10/trading-in-options-on-wall-streets-fear-gauge-froze-after-mondays-open-cboe-says.html

CBOE

Cboe Global Markets

Trading in options on Wall Street's fear gauge froze after Monday's open, CBOE says

Traders monitor offers in the S&P options pit at the Cboe Global Markets exchange shortly after the Federal Reserve announced it was raising interest rates on September 26, 2018 in Chicago, Illinois. Trading in options on Wall Street's fear gauge was impossible in the first minutes of Monday's session due to an absence of prices from the market makers on whom trading depends, a representative of index operator CBOE Global Markets said. CBOE Senior Trade Desk Specialist Ryan Stone told Reuters that VIX options were tradable at 9:51 a.m. ET (1351 GMT) but a lack of liquidity led to a lag of about seven minutes until the first trade, around 9:58 a.m. ET. When activity in options resumed, the VIX surged to its highest level since December 2008. The volatility spike occurred as global stock markets were melting down on fears about the spreading coronavirus and crashing oil prices. It followed 15-minute trading halts across U.S. exchanges, triggered by an opening 7% decline in the S&P 500 that set off circuit breakers. The S&P was last 7.6% down and the VIX was up 12.5 points at 54.46. A spokesperson for CBOE later confirmed that the index series was available for trading at 9:51 a.m. ET but that the first trades had not happened until later. "At 8:51 am CT, the available constituent series went into opening rotation, were available for trading, and by 8:54 am CT, an updated value of the VIX Index was subsequently published," she said. "At no time during this period did the VIX Index experience a technical issue." According to CBOE's website, the VIX Index is calculated using standard S&P 500 options and weekly S&P 500 options that are listed for trading on CBOE Options. "What caused the delay in opening SPX & VIX - with these being products - is we had to manually open them," Stone said. "We gave market makers the delay to ensure they were getting proper market data so they could properly quote these." In line with its own rules, CBOE had earlier taken a "precautionary measure" to not open the VIX to trading before the bell as it was not able to calculate the index value at the time, after E-mini futures on the S&P 500 <EScv1> hit their 5% lower limit in premarket trade. The VIX index is widely used by traders as a measure of expected volatility of the S&P 500 over the following 30 days and is traders' main way of protecting against or betting on sharp moves in stocks.

https://www.cnbc.com/select/market-downturn-whether-or-not-to-buy-the-dip/

CBOE

Cboe Global Markets

Worried about the current market downturn? Here's what to consider before buying the dip

The crypto market can be volatile, but it's still attractive to young people who have "higher risk appetites," said Chris Adam of SharpRank. There's no doubt that there's a lot at hand contributing to the market's latest downward slide: 40-year-high inflation, rising interest rates, global economic uncertainty, war in Europe, an ongoing pandemic and now worries about a potential recession. The recent surge of market volatility has us all on our toes, leaving new and seasoned investors alike wondering what to do with their money when their investments tank. Historical data from the American Association of Individual Investors (AAII) Sentiment Survey index shows that while the second half of 2021 saw a lot more bullish investors than bearish investors, sentiment has flopped and there are now way more bearish investors than bullish. If you're wondering what should be your next move in a market downturn, we got some advice from a market risk expert. "Hopefully, you lightened up when things were getting frothy and you have some dry powder with which to start nibbling at current bargains," investing and market risk expert Richard Smith, CEO of investing tool RiskSmith, tells Select. "In general, you should be selling into irrational exuberance and buying into irrational pessimism." To put it another way, Smith echoes conventional investing wisdom that suggests selling when everyone else is buying and buying when everyone else is selling. "Right now, sentiment is at historic levels of bearishness," he adds. Subscribe to the Select Newsletter! Our best selections in your inbox. Shopping recommendations that help upgrade your life, delivered weekly. Sign-up here. What to consider before buying the dip Investors taking advantage of the latest market swings and buying the dip, however, should do so with caution. Buying stocks at a discount and holding for long periods of time is a common strategy, but it could be risky given it's tough to determine if the market will keep falling. Stocks could tumble even more and there's the risk of an impending recession. "'Buying the dip' depends upon your timeframe," Smith says. "If you can keep your money in the markets for at least a couple of years, this is a good dip to buy. If you're banking on the market reversing [soon] and heading back up to new highs, you'll likely be disappointed." Crypto investors should especially proceed with caution. Smith suggests that any investments in this "very volatile asset" should be small and should be with a mindset of holding for five to ten years. Money that you need within the next year is certainly not to be invested and is best put in a safe savings vehicle, such as a high-yield savings account. We like the Marcus by Goldman Sachs High Yield Online Savings for offering an above-average interest rate, no fees whatsoever and easy mobile access. It's the most straightforward savings account to use when all you want to do is grow your money with zero conditions attached. And if you're earmarking funds for a certain goal, such as a future vacation or down payment on a home, consider the Ally Online Savings Account that allows users to organize their saving goals by creating up to 10 different "buckets" within the same savings account. Marcus by Goldman Sachs High Yield Online Savings Learn More Goldman Sachs Bank USA is a Member FDIC. Annual Percentage Yield (APY) 4.40% APY Minimum balance None Monthly fee None Maximum transactions At this time, there is no limit to the number of withdrawals or transfers you can make from your online savings account Excessive transactions fee None Overdraft fee None Offer checking account? No Offer ATM card? No Terms apply. Ally Bank Savings Account Learn More Ally Bank is a Member FDIC. Annual Percentage Yield (APY) 4.25% APY Minimum balance None Monthly fee None Maximum transactions Unlimited withdrawals or transfers per statement cycle Excessive transactions fee $10 per transaction Overdraft fee None Offer checking account? Yes Offer ATM card? Yes, if have an Ally checking account Terms apply. Read our Ally Bank Savings Account review. When you're ready to buy the dip Vanguard Learn More Minimum deposit and balance Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No minimum to open a Vanguard account, but minimum $1,000 deposit to invest in many retirement funds; robo-advisor Vanguard Digital Advisor® requires minimum $3,000 to enroll Fees Fees may vary depending on the investment vehicle selected. Zero commission fees for stock and ETF trades; zero transaction fees for over 3,000 mutual funds; $20 annual service fee for IRAs and brokerage accounts unless you opt into paperless statements; robo-advisor Vanguard Digital Advisor® charges up to 0.20% in advisory fees (after 90 days) Bonus None Investment vehicles Robo-advisor: Vanguard Digital Advisor® IRA: Vanguard Traditional, Roth, Rollover, Spousal and SEP IRAs Brokerage and trading: Vanguard Trading Other: Vanguard 529 Plan Investment options Stocks, bonds, mutual funds, CDs, ETFs and options Educational resources Retirement planning tools Terms apply. Robinhood Learn More Minimum deposit and balance Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No minimum required to open an account or to start investing Fees Fees may vary depending on the investment vehicle selected. Commission-free trading; regulatory transaction fees and trading activity fees may apply Bonus Robinhood will add 1 share of free stock to your brokerage account when you link your bank account and fulfill the conditions in your promotion (you'll be able to keep the stock or sell it after 2 trading days) Investment vehicles Brokerage account: Robinhood Financial commission-free investing Investment options Stocks, ETFs, options trading, fractional shares, IPOs, plus certain cryptocurrencies through Robinhood Crypto (depending on where you live) Educational resources "Investing basics" blog, an online library of content and Robinhood Snacks daily newsletter Terms apply. Bottom line The unrest in the markets is definitely unsettling, but market volatility is normal and expected. At the end of the day, investing is a long game and history has shown us that riding it out typically pays off. While stocks plunging means you can buy them more cheaply, be careful when entering the market during turmoil. Catch up on Select's in-depth coverage of personal finance, tech and tools, wellness and more, and follow us on Facebook, Instagram and Twitter to stay up to date. 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/2021/08/20/august-is-usually-volatile-and-the-delta-variant-is-making-it-worse.html

CBOE

Cboe Global Markets

August is usually volatile for the market, but the Fed is a wild card and could agitate things further

In this article UEEC URI Follow your favorite stocks CREATE FREE ACCOUNT A trader works on the floor at the New York Stock Exchange (NYSE) in New York, August 20, 2021. Andrew Kelly | Reuters The markets: It's August, but it's also Covid. Normal August trading flows are being greatly complicated by the delta variant. A third but still important complication — increasingly authoritarian action in China is causing some to reprice China's demand for commodities, and the valuation of its entire market. A normal August On one level, this is a normal August: mostly low volume, followed by short bursts of downside volatility. Many were alarmed when the Cboe Volatility Index (VIX) hit almost 25 on Thursday morning, but that's only because volatility has been abnormally low, with only a few 1% daily moves in the S&P 500 in the last few months (way below the historic average, which is about one every week). It's typical for the VIX to spike at least once — and often several times — in August and September, and even into October. It was 25 at this time last year, and spiked into the 40s in October: VIX: recent Aug-Oct. highs 2020 41 2019 24.8 2018 28.8 August to September is typically strong for defensive sectors like consumer staples, health care, utilities and weak for cyclicals like energy, materials and industrials, and "less positive" for technology, according to BofA Securities. So far, that's exactly what's happening. Not a normal August On another level, this is not at all a normal August. The primary mover of the market (the reopening story) is getting rerated. The market is being forced to reprice the growth outlook due to the delta variant. As a result, cyclicals sectors that are sensitive to the reopening story (energy, materials, industrials, travel/leisure) are getting hit this week: Energy this week: Chevron: -8% EOG Resources: -6% Hess -10% Cabot Oil -8% Industrials/materials this week: Deere: -6% United Rentals: -6% Caterpillar -6.5% Freeport-McMoRan: -15% Cleveland-Cliffs: -10% Airlines this week: United: down 6% American: down 6% Delta: down 5% The broader market is holding up due to the continuing rotation into defensives (health care, consumer staples, utilities) and technology, where several megacap names are hitting new highs. Consumer staples this week: Costco: up 1.4% Pepsi: up 1.7% Kimberly-Clark up 1.8% Procter & Gamble: up 0.8% Health care this week: Abbott: up 2% HCA: up 1.5% United Health up 1% Bristol-Meyers: up 1.7% Technology new highs: Cisco Microsoft Adobe Juniper Networks Is the Fed now the marginal mover of the market? With the markets fragile, some believe the Fed has now become very important as a wild card. The markets are comfortable with a possible September announcement of a tapering timeline, with tapering starting at the end of the year, and ending sometime in the middle of next year, with rate hikes starting after that. But if that were to suddenly change, the markets could go into a tizzy, unable to deal with earlier tapering and rate hikes and the delta variant all at once. A sudden move to a higher rate stance is historically the Great Killer of Bull Markets. Traders have emphasized that the Fed must carefully manage its message — if it does not, and rates rise suddenly, tech will sell off dramatically and what is now a modest 2% correction will quickly turn into a 10% rout. Delta variant remains the big unknown

https://www.cnbc.com/2020/05/26/cboe-to-partially-reopen-options-trading-floor-in-chicago-on-june-8.html

CBOE

Cboe Global Markets

Cboe to partially reopen options trading floor in Chicago on June 8

Traders work in the S&P options pit near the close of trading on the Cboe Global Markets trading floor on January 31, 2020 in Chicago, Illinois. Cboe Global Markets announced Tuesday that it plans to reopen its Chicago-based options trading floor on June 8 after being closed for more than two months due to the coronavirus pandemic. The company said it has developed "extensive health and safety protocols" to insure traders' safety, including the reconfiguration of its trading floor layout, restricting floor access to trading personnel and requiring face coverings. The Cboe also said it has enhanced "daily cleaning and sanitizing procedures" and will conduct "medical screenings at entry points of the building." "A global community of market participants finds tremendous value in our hybrid model, which has always provided best-in-class liquidity and access through open-outcry and electronic trading mechanisms," CEO Ed Tilly said in a statement. "Customers have awaited a return to hybrid trading at Cboe and all of the unique benefits it provides." The Cboe's announcement came after the New York Stock Exchange reopened Tuesday with about 80 floor brokers present, or roughly 25% of the number before the coronavirus outbreak. Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

https://www.cnbc.com/2023/10/28/analyzing-the-market-sell-off-routine-sp-500-correction-or-something-more-serious.html

CBOE

Cboe Global Markets

Analyzing the market sell-off: Routine S&P 500 correction or something more serious?

It's as if the market is pre-grieving the demise of the economic expansion while it remains very much alive – vigorous, even. The S & P 500 's three-month correction deepened to more than 10% off its peak during a week when third-quarter GDP was reported at a sizzling 4.9% annualized rate, inflation continued to ease slowly and corporate earnings growth is coming in three-percentage points ahead of forecasts with the requisite three-quarters of all companies beating expectations. A full year after economists, as a group placed a 100% probability of a recession over the next year and no recession, has emerged, investors collectively are dumping exactly the stocks (consumer cyclicals, banks, basic materials) most tied to economic activity. Standard late-cycle psychology is entrenched and will never fully be banished until the cycle is reset, with the expected onset of a stalling economy and continually pushed out into the near future. The market is now implicitly concluding that consumer fatigue and 15-year-high bond yields will be too much to absorb – and if it's not then the Federal Reserve will have to force the issue and possibly cause some tearing in the economic fabric. It's tricky for those who prefer to respect the market's message rather than tell it how to act. For sure, stocks always try to anticipate the next turn in fundamentals and tend to do so better than any individual handicapper over time – but the market also overshoots and runs astray at times, creating opportunity for those with a conviction in a variant view. Any buying interest? Aside from the macro unease and sell-the-news response to most mega-cap earnings reports, last week's 2.6% slide in the S & P 500 also reflects the more disorderly risk-fleeing action that follows a broken uptrend. The 200-day moving average gave way and the widely cited potential support area of 4200 put up no fight at all. According to Goldman Sachs' trading desk, this has turned systematic trend-following hedge funds close to a recent record-short position in the indexes. With a close at 4117, the index has now returned to a zone where it spent nearly two months churning in April and May before breaking higher. It's also close to the halfway point between last October's low and the July high. On paper, this should be an area where some buying interest emerges. .SPX YTD mountain S & P 500, YTD The S & P 500 is also down 10% over the past two years and at a level first reached 30 months ago, with U.S. GDP now 18% larger than it was then and annualized earnings 10% higher. This guarantees nothing but does suggest valuation risk has come down, if not certainly been eliminated. In the time since stocks began their 10% slide in July, the one-year-forward consensus profit forecast for the S & P has risen from about $235 to $241. This places the S & P 500 at around 17 times forward earnings, roughly the past decade's average. (You will say Treasury yields are much higher now, so stocks appear unattractive, but I'll answer that the current stock-bond valuation spread was quite routine in the two decades before 2000.) The equal-weight S & P is near a 14 multiple and the equal-weight consumer discretionary sector is under 13, near the 2022 low P/E. It's never smart to insist a recession is priced into stocks in advance, investors almost never play it cool once a downturn is upon us. And cyclical stocks can be hazardous value traps at low valuations. But, again, someone watching the macro data and willing to bet the consumer can hang in there will have plenty of names to choose from. Bank of America equity and quantitative strategist Savita Subramanian points out that "Consensus long-term growth expectations for S & P 500 earnings have dropped to record lows, a rather powerful contrary indicator." She has an index target of 4600 for year's end, essentially a round trip to the July high. Yes, market breadth is lousy, the equal-weight S & P 500 less than 5% above the October 2022 low, but this is also how markets look when they're getting "sold out." We probably didn't quite get to "so bad it's good" conditions by the end of last week, but have entered the zip code in terms of oversold readings and tactical investor positioning and the like. This untrustworthy market action last week occurred while the bond market was uncharacteristically steady. The 10-year Treasury yield took a look above 5% on Monday then settled back to finish at 4.84%. US10Y YTD mountain U.S. 10-year Treasury A relief, no doubt, but the yield never ticked below 4.8%, the prior high from the first half of the month. Value could well be building in longer-term bonds as yields stay elevated well above inflation, but a retreat in yields below 4.6% or so might be needed to hint to bond-fearing equity investors that the fever is breaking, as markets struggle to arrive at a proper equilibrium among rates, economic conditions and equity valuation. Multiple culprits Aside from the yield story, there are other factors at work, confirming the old wisdom that market corrections always have multiple culprits. Terrorism and regional military conflicts are rarely long-term market inflection points in themselves, but they can exacerbate risk-off impulses. The past three Fridays have seen unsettled trading and a levitation in the CBOE Volatility Index , evidence that traders were clenching up ahead of a weekend of potential escalation in the Israel-Hamas war, only to see some relaxation the following Monday. Gold making new highs and Bitcoin making a strong run add to the sense of foreboding among global asset owners. It recalls the lead-up to the U.S. invasion of Iraq in March 2003. Stocks had attempted a strong rebound off the bear-market low the prior October, but the S & P 500 fell some 14% in less than two months starting in January as an invasion was viewed as nearly certain. Much else was happening, but once the military action started that March, stocks surged as the overhang of uncertainty lifted. This is also the time of year when weakness is pinned to tax-loss selling by mutual funds with an October-ending fiscal year, a presumed contributor to general autumn turbulence and to the many notable late-October market bottoms throughout history. I mused here a few weeks ago that there seemed perhaps a bit too much investor reliance on the fourth-quarter seasonal-strength story, and indeed there has been none so far aside from a weak bounce off the early-month low. Now is exactly when the historical pattern says the late-year tailwinds ought to kick in, perhaps helped this year by a general loss of faith that they will. Not to mention the modest challenge to the hope and belief that the Magnificent Seven tech giants could remain impervious to higher rates and doubts about their growth outlook. When investors grow unsure of supposed "sure things," the potential for pleasant surprise is restored. Of course, if the tape doesn't soon find some relief given the pervasive price damage done and typical calendar support into November, it would add credence to the idea that the market is contending with something more serious than one can see by simply looking at the incoming economic evidence.

https://www.cnbc.com/2019/03/18/cboe-to-stop-listing-bitcoin-futures-as-interest-in-crypto-trading-cools.html

CBOE

Cboe Global Markets

Cboe to stop listing bitcoin futures as interest in crypto trading cools

The major U.S. exchange company that paved the way for bitcoin futures has had a change of heart. Cboe Global Markets, which rolled out the first bitcoin futures contracts in December 2017, has decided to stop adding new ones. In a statement last week, the Cboe Futures Exchange said it will not add new bitcoin futures in March. It did not rule out the possibility of other cryptocurrency derivatives, though, and "is assessing" its approach for how it plans to continue. In the meantime, active bitcoin contracts are still available to trade, but the last of them expires in June. Futures are a way for investors to bet on whether the price of a commodity — in this case bitcoin — will rise or fall. The contracts expire each month, meaning an exchange has to continuously list more if it wants to keep the market alive. The move by Cboe highlights cooling enthusiasm for bitcoin after an all-out mania led by retail investors in 2017. When the "XBT" futures launched in December of that year, bitcoin was trading near $17,000. Not long after, it shot to almost $20,000. Prices have come crashing down by 80 percent since. Bitcoin was trading near $4,000 as of Monday afternoon. Cboe was not the only exchange to try to capitalize on the bitcoin frenzy. Its Chicago-based rival CME Group debuted its own cash-settled bitcoin contracts, also denominated in U.S. dollars, and has not announced any changes. CME's version has historically seen more trading volume. CME bitcoin futures' 30-day average volume is more than four times larger than Cboe's. When they were introduced, futures gave investors a way to buy and sell cryptocurrency in a regulated marketplace. Those in favor of it said it would be a way to usher institutional investors into the bitcoin marketplace. There has been little evidence of that happening in the form of crypto derivatives.

https://www.cnbc.com/2021/07/08/these-stocks-do-well-when-volatility-spikes-analysts-like-them-today.html

CBOE

Cboe Global Markets

These stocks do well when market volatility spikes

Wall Street's fear indicator spiked Thursday as the stock market shuddered on growing fears of a hiccup in the global economic comeback story. History shows certain stocks outperform during periods of turmoil. The CBOE Volatility Index, known as the VIX, surged above the 20 threshold at one point Thursday morning. The index is derived from prices of options on the S & P 500 and a rising value typically means increasing fears by investors for a bigger sell-off ahead. CNBC PRO identified the 10 months in the past five years with the biggest spikes in the VIX. Then, we analyzed the performance of S & P 500 stocks during those months. We found the stocks with the highest median performance during those months of volatility spikes. To weed out any especially volatile names, we removed names that declined more than 20% during any one of those VIX surge periods. From this pool, CNBC PRO screened for stocks that at least 60% of analysts like today with buy ratings. We also looked for stocks with more than 10% potential upside based on average 12-month price targets from analysts. Take a look at the top 20 names on CNBC PRO's list of Wall Street-favored stocks that do well when volatility spikes. The screen used FactSet data. Netflix snagged the top spot on our list. The streaming giant had a median gain of 0.1% during VIX spikes, the only stock with an average positive return based on CNBC PRO's screen. Netflix thrived during the turmoil last year as consumers increased their streaming during the pandemic. Some tech shares with growth independent from the economy can sometimes do well in tough times. CNBC PRO's list also includes many traditional low-volatility plays such as utilities stocks. Edison International , American Electric Power Company and Evergy all take top spots for average return during volatile periods. Intercontinental Exchange also emerged as a historically strong performer during VIX spikes. Overall market volatility typically bodes well for exchanges. Other names on CNBC PRO's list include Lam Research , McDonald's , T-Mobile and Walt Disney Company . The Netflix logo is shown in this illustration photograph in Encinitas, California. Mike Blake | Reuters

https://www.cnbc.com/2020/09/10/traders-load-up-on-market-insurance-on-fears-of-a-contested-election.html

CBOE

Cboe Global Markets

Traders load up on market insurance on fears of a contested election

The chances of a contested presidential election are on the rise, and traders are gearing up for big market swings after the Nov. 3 contest. Futures contracts that track the Cboe Volatility Index ( VIX ) that are set to expire after the election are holding at elevated levels. The VIX futures contract set to expire Nov. 18 — 15 days after the election — is trading above 31, according to FactSet. VIX futures contracts expiring Dec. 16 and Jan. 20 are trading above 28. It isn't until the March expiration that the futures curve start trading back below 28. Normally, VIX futures contracts expiring after the election trade at a sizable discount to the contract that expires just before the contest. This is in part because it's usually clear who the winner is on election night. This time, however, traders are bracing for a protracted period of wild market swings after the election as more people are expected to vote by mail because of the coronavirus pandemic. This means it could take longer for the official results to be determined. "Right now the market sees a significant, drawn-out level of volatility" after the election, said Bill Looney, managing director and head of global business development at XFA. "This heightened sense of uncertainty around the outcome of the election is palpable." In recent months, President Donald Trump has raised concerns that expanded mail-in voting could lead to electoral fraud. In May, he threatened to hold up funding to Michigan and Nevada for expanding vote-by-mail access . Last month, the Trump campaign sued New Jersey for its decision to send mail-in ballots for the November election. On Aug. 23, Trump tweeted: "The greatest Election Fraud in our history is about to happen." Trump himself voted by mail in Florida's primaries in March and August. Trump's claims come even as a recent analysis casts the risk of voter fraud by mail to be minuscule . "Trump is basically setting the market up for a contested election," said Looney, who added that institutional traders have recently increased positions to account for a post-election volatility spike. Election Day itself is also shaping up to be a choppy day for markets. Data compiled by Goldman Sachs shows the options market is pricing in a 3.2% move for the S & P 500 on Nov. 3. "The heightened concern about the virus trajectory, vaccine development, and elections are all reasons for high vol risk premium, but we see options as underpriced for short-dated maturities and overpriced for the period around November's election," Goldman strategist Rocky Fishman said in a note. Traders may be getting a preview of what that volatility may look like after the market's recent run to back to record levels. On Tuesday, the Cboe Volatility Index traded above 33, near its highest level since June, before sliding back to 29.8 on Wednesday. The VIX has been rising since last week as investors cash in profits from tech, the best-performing sector in the market year to date. That volatility increase also comes as Trump has slightly narrowed his gap against former Vice President Joe Biden. Data compiled by RealClearPolitics shows Biden leading Trump by an average of just over 7 percentage points in national polls. However, that's down from a 9.3 point gap in late July. "The political polls have recently suggested that we may have a too close to call unresolved presidential election on November 3 causing unrest at home and a lack of confidence in the U.S. from foreign investors," said Bruce Bittles, chief investment strategist at Baird. It's not just professional volatility traders that are bracing themselves for a protracted election battle. Phil Blancato, CEO of Ladenburg Thalmann Asset Management, said he's been rotating client portfolios into "higher-quality fixed income and equity, because I expect it to come and I don't want our clients to feel those waves of volatility." "I am very concerned about a contested election," said Blancato. "There are some significant concerns about what happens socially, and economically, during a contested election and what that would do to the fabric of this country, which is already strange. I'm very worried about the election and I hope one of the two candidates wins by a significant amount." A pedestrian carries an umbrella while walking in front of the New York Stock Exchange, Feb. 26, 2020. Michael Nagle | Bloomberg | Getty Images

https://www.cnbc.com/2020/12/09/jp-morgan-strategist-who-called-march-market-comeback-sees-a-big-year-ahead-for-stocks.html

CBOE

Cboe Global Markets

JP Morgan strategist who called March market comeback sees a big year ahead for stocks

J.P. Morgan Chase strategist Marko Kolanovic expects the stock market surge to continue through 2021 as the coronavirus recovery intensifies and volatility subsides. As markets were falling apart in mid-March, Kolanovic called a recovery that has seen the S & P 500 post a 14% gain in 2020 after a breakneck dive into bear market territory at the pandemic's outset. In his look ahead to next year, J.P. Morgan's global head of macro quantitative and derivatives research, expects a confluence of factors to bring another strong year. "Our outlook for 2021 is positive for equities and more broadly for risky assets," Kolanovic said in a report for clients. "We expect markets to be driven by recovery from the COVID-19 crisis at the back of highly effective vaccines and continued extraordinary monetary and fiscal support." His S & P 500 target for 2021 is 4,400, which implies an 18.8% gain from Wednesday's opening price. At the heart of the forecast is an expectation that the low interest rate climate will push institutional investors like pensions and sovereign wealth funds out of bonds and into higher-yielding assets like stocks. From an investment perspective, he sees a rotation from growth and momentum, the two major drivers of the 2020 stock rally, into value and cyclical stocks. Financials and energy, the two worst sectors on the S & P 500 this year with respective declines of 7% and 34%, are forecast to outperform. "This would be an environment in which market volatility declines, supported by fundamental and quantitative drivers," Kolanovic wrote. That decline in volatility would create "a positive feedback loop" in which hedge fund managers also would increase stock allocations. "This process may take most of 2021 to play out, as the economic recovery as well as inflows in the risky strategies are likely to be gradual," he added. The market's principal benchmark for risk appetite, the Cboe Volatility Index , has remained elevated even as the market has rallied. The VIX traded around 22 Wednesday afternoon, down from its late-October spike to 40 but still above its historical average near 20. Kolanovic sees the VIX continuing to decline through 2021, averaging about 17. A driving factor in the decline ahead of the "fear index" will be all the monetary juice coming from the Federal Reserve . In a response far more rapid than what it did during the 2008 financial crisis, the Fed slashed its benchmark short-term borrowing rate to near zero, instituted a slew of lending and liquidity programs, and has been buying at least $120 billion worth of Treasurys and mortgage-backed securities each month. With the Fed likely to keep up its ultra-accommodative stance, Kolanovic sees that holding volatility in check through 2021. JPMorgan's Marko Kolanovic. Crystal Mercedes | CNBC

https://www.cnbc.com/2023/06/07/ai-and-crypto-are-in-focus-at-the-annual-gathering-of-the-wall-street-trading-community.html

CBOE

Cboe Global Markets

A.I. and crypto are in focus at the annual gathering of the Wall Street trading community

It's time for the annual gathering of the trading community. I'm at the Piper Sandler Global Exchange Conference in New York City Wednesday and Thursday. The heads of all the global exchanges, including the NYSE (ICE) , Nasdaq , Cboe, CME , and the London Stock Exchange, along with crypto movers and shakers, and trading platforms like Interactive Brokers have gathered in New York to talk about the state of global trading in stocks, bonds, commodities, and crypto. Here's a rundown of some of the hot topics: Crypto in focus: SEC Chair Gary Gensler will be speaking at noon on Thursday. Gensler created a stir this week by suing Binance and Coinbase , and will likely amplify and clarify why he has chosen now to sue two of the major crypto companies. Galaxy Digital Holding CEO Michael Novogratz, Coinshares CEO Jean-Marie Mognetti, and Robinhood CEO Vlad Tenev will provide business updates Wednesday but will certainly be pressed to describe how the landscape has changed now that SEC Chair Gensler has become openly hostile to crypto trading platforms. What's the state of equities trading? Doug Cifu, CEO of market maker Virtu Financial and Thomas Peterffy will discuss trends in retail and institutional trading and will no doubt be asked about the curious drop in volatility. Artificial intelligence: What's the impact on trading? Electronic trading changed the trading world 30 years ago, is AI poised to do the same? Two pioneers of electronic trading, Virtu Financial founder Vinnie Viola and Peterffy, will be speaking at noon today, reflecting on the past and future of trading and will certainly be asked about the role AI will play in future trading. Derivatives trading is exploding: Cboe Global Markets CEO Ed Tilly and CME Group CEO Terry Duffy will discuss the continued growth of futures and options trading, which has exploded since Covid. The hottest trend: zero-day options that expire on the same day they are traded. Who wants them? CBOE thinks there is demand. Bond trading and investing: It's bigger than ever, but can it last? Treasury ETFs and mutual funds have seen enormous inflows this year, as have money-market funds that invest in short-term Treasuries. Tradeweb CEO Billy Hult and MarketAxess CEO Chris Concannon will discuss the growth in Treasury trading and the increasing electronification of the bond market. Rich Repetto's final conference: Finally, the conference organizer, Rich Repetto, managing director and senior research analyst at Piper Sandler, has been the "ax" [the #1 analyst] in the trading and exchange space for decades. He was around in the 1990s when the electronic brokers started and the internet boom and bust, in the early and mid-2000s when exchanges like NYSE and Nasdaq and CME went public, and in the 2010s with the growth of electronic market makers like Citadel and Virtu. This is his final conference. I'll be speaking with him about his career and a look at the past and future of trading and technology for CNBC PRO Wednesday.

https://www.cnbc.com/2017/05/10/cramer-remix-why-snap-percent-u2019s-earnings-could-have-twitter-cheering.html

CBRE

CBRE Group

Cramer Remix: Why Snap’s earnings could have Twitter cheering

watch now When the market's reaction to President Donald Trump firing FBI Director James Comey was to brush it aside and run higher, Jim Cramer felt compelled to find out why. It seems to the "Mad Money" host that even if the president had tweeted his firing of the FBI director, it may have simply caused investors to flock to Twitter's stock, "especially after a very disappointing quarter of newbie Snap , which made Twitter look like a dynamo," he said. Many characterized Trump's action as Nixonian, reminiscent of when the infamous former president fired the special prosecutor investigating Watergate. Some said Comey's firing was a black swan, a signal of an imminent pullback. But as the market soared higher, Cramer offered an explanation for why the market may not be so hostage to Washington after all. A man takes a picture of the Nvidia DGX-1 supercomputer during a news conference at the Computex computer expo in Taipei, Taiwan, on May 30, 2016. Sam Yeh | AFP | Getty Images After Nvidia's stock popped over 17 percent on Wednesday following Tuesday's strong earnings report, Cramer had to piece together what drives the gains for the outperforming chipmaker. The company, led by CEO Jensen Huang, delivered $1.94 billion of revenue in the first quarter and 48 percent year-over-year growth. It also gave bullish second-quarter guidance. The "Mad Money" host said the first driver for Nvidia's blowout success was the fast-growing area of virtual gaming, and listed three others that will help push the semiconductor player into the future. Kevin Lamarque | Reuters Cramer sat down with CBRE President and CEO Bob Sulentic, who explained how his real estate services company is using technology to get ahead in its space. "We have scale and a willingness and ability to invest in our platform to support our people that separates us from the rest of the sector. One of the things we're able to invest in because of that scale and because of our willingness to invest is in technology and data, and we're doing that and it's helping us serve our clients," Sulentic told Cramer on Wednesday. Sulentic said CBRE supplies its brokers with applications that provide market information and data in a way that is hard for its competitors to duplicate, and one that makes its brokers more talented. "In a sector where historically people said you can't create barriers to entry, we're creating barriers to entry," the CEO said. Chipotle restaurant workers in Miami Getty Images

https://www.cnbc.com/2019/02/13/another-wave-of-retail-store-closures-coming-no-light-at-the-end-of-the-tunnel.html

CBRE

CBRE Group

Another wave of retail store closures coming. 'No light at the end of the tunnel'

Another wave of store closures is expected to hit shopping centers and malls this year with "no light at the end of the tunnel," according to a new research report. Retailers have already announced 2,187 new store closures since Jan. 1, including Gymboree, J.C. Penney , Charlotte Russe and Ann Taylor parent company Ascena Retail , according to Coresight Research. That's up 23 percent from the number of announcements documented at the same time last year, the market research group said. And there's "potentially many more on the way due to companies currently in the bankruptcy process and more on the horizon." In 2018, Coresight tracked 5,524 store closure announcements in the U.S., which was down more than 30 percent from a record 8,139 closures announced in 2017. David Simon, CEO of the largest mall operator in the U.S., Simon Property Group, recently said the pace of store closures was slowing, but he expected more in 2019, with a handful of private equity-backed retailers on his so-called watch list.

https://www.cnbc.com/2019/01/04/surge-in-e-commerce-gift-returns-has-boosted-the-warehouse-sector.html

CBRE

CBRE Group

The surge in online-shopping returns has boosted the warehouse sector

The warehouse sector is booming as online shopping, particularly during the holiday season, boosts the amount of items returned to retailers every year. Warehouses have experienced surging demand since 2012 as e-commerce continues to grow. Construction in the sector is thriving. Now, "reverse logistics," a fancy term for dealing with e-commerce returns, is the No. 1 new user of warehouse space in the United States, taking up to 700 million square feet nationally, according to commercial real estate services and investment firm CBRE. "The demand for the space is only going to increase in warehouses unless and until we find a better solution to either return to the store or better incentives for consumers not to return the goods," said Spencer Levy, CBRE's chairman of Americas research and senior economic advisor. "We're talking tens of billions of dollars of goods that have returned and need to either be returned to market, or very often destroyed if the value is no longer there." Consumers will return close to $100 billion worth of holiday gifts, according to Optoro, a tech company that works with retailers on returns. While in-store shoppers return about 8 percent of the goods they buy, online shoppers return close to 30 percent. Much of that ends up in warehouses, where reverse logistics teams must unpack the items, check them for damage and send them wherever the retailer needs them to go. That needs to be done quickly and efficiently, because consumers want their money back or their item exchanged as soon as possible. "We know that about 86 percent of consumers say the returns process influences their buying decision online, so we know it's very impactful," said Erik Caldwell, XPO Logistics' chief operating officer of supply chain Americas and Asia. "As the actual retailer or the product owner, you want to get the product back into inventory very quickly. As a consumer I want a very speedy process to be credited and get my money back and be able to buy again." That is why reverse logistics requires much more labor and more space — at least 20 percent more space than regular shipments from suppliers. An inbound truckload of goods from one supplier takes about two to eight hours to process, because the goods usually arrive on large, electronically scannable palettes. A truck filled with returns could take 48 hours to process, because each item has to be checked and processed. XPO has 813 logistics sites that it either owns or leases, and is opening about two per week around the world. "The space is becoming a premium and you can see all the building that's going on," said Caldwell. Warehouse construction is surging, especially near large cities and transportation hubs, while the national vacancy rate is 4.3 percent, the lowest in 20 years, according to CBRE. That benefits big warehouse REITs like Prologis, Eastgroup Properties and STAG Industrial. There was concern among analysts earlier this year that the trade war might hurt demand, but so far economic growth has offset those fears. One of the strongest holiday retail seasons in years only confirmed that. "I don't think we're past the peak yet," said CRBE's Levy. "Though we had suggested earlier that we might have seen that, we didn't."

https://www.cnbc.com/id/100062497

CBRE

CBRE Group

HK's lack of new office supply threatens status as corporate hub -study

HONG KONG, Oct 30 (Reuters) - Hong Kong, home to some of the world's highest commercial property rents, is facing a shortfall of nine million square feet of office space by 2020, threatening its status as a leading destination for companies, a report shows. The study by commercial real estate services firm CBRE comes just days after Hong Kong announced its first residential property tax targeted at overseas buyers as U.S. quantitative easing and record-low interest rates boost the risk of a housing bubble in the Asian financial centre. ``Hong Kong is at risk of choking itself at future economic growth and prosperity because it's not delivering the office space to satisfy the demand,'' said Craig Shute, senior managing director at CBRE. The forecast shortfall in office space comes even as global companies pull out of traditional core business areas in Hong Kong to cut costs as lingering economic uncertainties take a toll on firms in the world's most expensive office market. Hong Kong is 11 percent more expensive than London's West End, which ranks second globally, and 33 percent ahead of Tokyo, which is ranked third, according to CBRE. KPMG, one of the big four accounting firms, recently relocated from the upmarket Prince's Building in Central district to the busy shopping area of Causeway Bay. Royal Bank of Scotland Group PLC has also moved staff from Cheung Kong Center, the headquarters of Asia's richest man Li Ka-shing, to less costly properties. CBRE said Hong Kong's estimated pipeline of 8 million square feet of office space by 2020 falls short of a total 17 million sq ft forecast to be needed by then based on projected GDP growth. ``There is currently an imbalance, whereby space is mostly available at the top end of the market but demand is now driven by cost-saving practices,'' CBRE said in the report. While commercial leasing is now concentrated on lower-cost locations, prices in many of the non-core areas are climbing steadily as demand increases. ``Outside Central, the rents continue to increase and vacancy is extremely low,'' said Shute. ``Vacancy is very tight and this situation is likely to intensify over the coming years.'' In Central district, a hub for many multinationals, rents fell 1.2 percent in the second quarter of 2012, although the overall market still edged up by 0.1 percent, according to a study by global real estate services firm Jones Lang LaSalle. Hong Kong has said it will take measures to curb prices in the commercial real estate market if necessary and the government announced on Tuesday it would discuss further steps to cool the overheated property market at a meeting on Friday. In June, China outlined plans for a $45 billion economic zone in Shenzhen, about an hour by car from Hong Kong, in a move analysts said would give the city fresh outlets for expansion beyond the congested territory. Hong Kong's main office developers include Sun Hung Kai Properties Ltd, the world's second-largest developer by market value, Swire Properties Ltd, Hongkong Land Holdings Ltd and Wharf Holdings, the city's top mall operator.

https://www.cnbc.com/2018/08/15/trump-trade-war-with-china-spurs-off-the-charts-rush-at-port-of-la.html

CBRE

CBRE Group

Trump trade war with China leads to 'off the charts' rush of imports at nation's busiest port and more demand for warehouse space

US President Donald Trump (L) and China's President Xi Jinping shake hands at a press conference following their meeting outside the Great Hall of the People in Beijing. The escalating trade war with China is leading U.S. retailers to speed up the import of goods from Asia's largest economy to avoid new tariffs and ensure they have adequate supplies for the winter holidays. Executives say nervous importers pushed forward shipments into the Port of Los Angeles that would normally arrive later in the year into July due to uncertainty surrounding the U.S.-China trade fight and looming tariffs proposed on a variety of imported consumer products. As a result, the surge in goods coming in has exacerbated the already tight availability of warehouse space close to the LA/Long Beach port complex. "What we've seen in real time is that many inventories are starting to be pulled forward," said Gene Seroka, executive director of the Port of Los Angeles, the busiest container port in North America. "Our July numbers were off the charts. The cargo is flying at us now." On Wednesday, the Port of LA reported container volumes for the month of July rose 4.6 percent compared with a year ago. July loaded imports rose by 5 percent and exports increased by 8.4 percent. The port hailed the total monthly volumes as the "busiest July in its history." The adjacent Port of Long Beach, meantime, said last week it is on track to have "its busiest year ever" but indicated July volumes were down 4 percent due to "container shipping alliances' decision to shift vessel deployment and port calls." Together, the twin Los Angeles/Long Beach port complex handles about 40 percent of the nation's containerized import trade with China. Seroka estimates at least 1 in 5 containers flowing through the complex could be affected by tariffs. According to Seroka, importers are bringing in goods from China at a "much, much quicker" pace to get ahead of any potential trade impacts. He said that trend applies to goods for the back-to-school, fall fashion and year-end holiday seasons. Industry executives say the products coming in quicker include everything from apparel and footwear to toys, electronics and furniture. There's also been movement of consumer goods earlier than normal for the spring fashion season. "We've heard from some members that are moving up shipments to try and avoid getting hit with tariffs," said Jonathan Gold, vice president of supply chain and customs policy at the National Retail Federation, which represents big-box retailers and smaller merchants. "There's a lot of uncertainty exactly when the next round of tariffs ... will take effect." Gold added that the expectation is that the U.S.-China trade spat could escalate. Retailers "are trying to get a little bit ahead of the game and trying to make sure they have product here that doesn't get hit with the tariff," he said. Retailers are spending "a lot of money to push up the delivery dates for the products and find space on vessels to get here in time or to find air space or to find the warehouse space," said Gold. "Those are all added costs that folks are going through right now." Last week, the Trump administration announced tariffs on $16 billion in Chinese imports to the U.S., part of an escalating trade war with Beijing that followed an earlier round of tariffs effective July 6 to $36 billion in imports. The new tariffs are set to start getting collected Aug. 23. President Donald Trump also has threatened 10 percent tariffs on an additional $200 billion worth of Chinese merchandise, including consumer goods. "The president has threatened to put tariffs on pretty much everything coming out of China," said Gold. Retailers "are looking at their supply chains and trying to plan appropriately. It's a mix of consumer products as well as inputs to production that are also affected by the tariffs." However, bringing goods in sooner at the LA port complex has added to demand for warehouse space in Southern California to store some of those consumer products. "Warehouse space is starting to dry up," said Gold. "So that's obviously causing concerns about when you bring it in early, where do you put it and how you store it." Kurt Strasmann, executive managing director of CBRE 's Orange County and Inland Empire operations, said Southern California for many years has been "one of the most sought-after industrial markets, not only in the nation but in the world. It's really big, it's really deep and it's really diverse and never was overbuilt." Strasmann said even during the Great Recession, the vacancy rate in the Southern California warehouse industrial market never reached above 5 percent. "It's always been a fairly tight market," the real estate executive said. "You've seen double-digit rent growth over the last couple of years." High land costs and some restrictions on building also have made it difficult to build new space closer to the ports in most sought-after industrial warehouse markets such as LA and Orange County. "The deeply embedded and worsening supply-demand imbalance combined with an inability to increase supply continues to be the key driver of historically low vacancy within the 'infill' [urban] Southern California industrial markets," said Michael Frankel, co-CEO of Rexford Industrial Realty , a REIT focused on owning and operating industrial properties in Southern California. Yet there's still land available at lower costs further east in the Inland Empire area of Riverside and San Bernardino counties. Some of the e-commerce companies that located several years ago to the Inland Empire are now looking more to the infill locations in Los Angeles to be closer to their population base and thus creating more demand in what is already a tight market. "We in Southern California today [have] less than 1 percent of our warehousing space available," said Seroka. "And we've got about 1.8 billion square feet of warehousing, which is the largest in the world in any one geographic region." Within the Southern California region, CBRE puts the vacancy rate in the Los Angeles County at 1.1 percent and Orange County at about 1.5 percent. The Inland Empire vacancy rate stands at about 3.5 percent to 4 percent, reflecting the addition of more warehouse space. The vacancy rate in the South Bay — a location closest to the LA/Long Beach port complex — is below 1 percent, according to Strasmann. "As the economy continues to grow, it's exacerbating the problem of low vacancy because there's room for these companies to grow," he said. "Space in those spots closest to the ports is incredibly tight," said Chris Burns, senior vice president of California operations for Duke Realty . "It's getting a lot more difficult to find space.

https://www.cnbc.com/2018/10/04/cramers-lightning-round-kratos-stock-rally-proved-the-haters-wrong.html

CBRE

CBRE Group

Cramer's lightning round: Kratos' stock rally proved the haters wrong

Kratos Defense & Security Solutions : "This is a very interesting one. We recommended it. We got a lot of hate mail, a lot of hate-tweets. A lot of people felt I didn't know what I was talking about. Well, the stock has been just a huge overachiever, but at this price, don't need it. Not going to push it here. We prefer to be in Raytheon . This is the cheapest defense stock. Why? Not dependent on U.S. buying. It's much more of an international play. They buy Patriot missiles as a way to placate our president." Anheuser-Busch InBev : "Listen to me and listen good: We do not want Anheuser-Busch. What we want is Constellation Brands , STZ, and I mean it. Really, partner, you've got to be in STZ. That's the one that's going higher." Alteryx, Inc. : "It's up more than 100 percent. It's almost like I should institute some rules. If it's up more than 100 percent, we kind of let it cool. I'd say this one is one of those that I talked about at the top of the show — 7 to 10 percent pullback, totally realistic. Let it happen and then do a little picking." Walker & Dunlop : "It doesn't have a good yield. It is an inexpensive stock, but I have no edge. We liked CBRE for a while. That's OK. But it just doesn't have what it takes right here. It just doesn't." Johnson Controls International : "Johnson Controls is problematic. A series of bad quarters, a new CEO, new guy comes in after that, not demonstrably successful yet. We need to see more. The proof is in the pudding and we don't have any proof yet. I don't like this industrial. It's one of the few industrials that I'm just not a backer of." Nektar Therapeutics : "I think it's a great spec. It's got a big pipeline of drugs. You know, look, the speculative stocks aren't working that well right now, but I don't want to sell the stock here. I think that would be a big mistake." Align Technologies : "Align Technologies is Invisalign. This is a stock everybody knows I like. It's up 60 percent. It's only down a few percent from its high. This stock is too hot. If this goes to $335, $340, buy, buy, buy. Staged buys; nothing aggressive. We don't know how long this [sell-off] is going to last."

https://www.cnbc.com/2017/02/14/cramer-the-stock-thats-gotten-the-green-light-from-president-trump.html

CBRE

CBRE Group

Cramer: The stock that's gotten the green light from President Trump

It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on caller favorite stocks at rapid speed: AK Steel : "I'm going to continue to recommend Nucor." Enbridge Inc : "Two thumbs up. I like Enbridge! They've got the green light from President "pipeline" Trump. He loves them." CBRE Group : "What a quarter! The company came on and they lit a fire under that one it is so terrific. I like it." Algonquin Power & Utilities : "Nice utility, it's got a 5 percent yield. Absolutely fine. I like the income that comes from that." Nokia Corp : "What's happening to Nokia? Nothing! That's right, like nothing. I would skip that one and go to the next." Questions for Cramer? Call Cramer: 1-800-743-CNBC Want to take a deep dive into Cramer's world? Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram - Vine Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com

https://www.cnbc.com/2017/02/27/cramer-tax-reform-and-repatriation-are-not-what-stocks-need-to-roar-higher.html

CBRE

CBRE Group

Cramer: Tax reform and repatriation are not what stocks need to roar higher

Virtually everyone on Wall Street assumes that President Trump's agenda for taxes and foreign assets must be passed in order for the stock market to roar higher this year, but Jim Cramer disagrees. "The idea that we MUST have corporate tax reform and repatriation is something I no longer feel is as imperative as it once was," the "Mad Money" host said. There was certainly no denying that Trump's championing of these issues and his endless parade of meetings with executives has helped the investing climate in the U.S. But that doesn't mean the stock market should throw away the necessity of growth and earnings as a dominant force. "As long as we get worldwide growth like we are beginning to have, than in my view, we don't really need these two initiatives to propel this market," Cramer said. In fact, the longer it takes Trump to pass these initiatives, the more investors can buy stocks with the notion that they will be there eventually. Apparel maker PVH Corp, which has brands such as Tommy Hilfiger and Calvin Klein, has managed to make the numbers in retail while the competition has failed. Cramer attributed this to the strength of PVH's brands in Europe and Asia. Approximately 24 percent of PVH's $8 billion revenue stems from Europe, which is now subsidizing the 54 percent that is in the U.S.

https://www.cnbc.com/id/100509149

CBRE

CBRE Group

Can't Sell the TV?...Sell the Office: Japanese Companies Fire Up Property Market

Japanese blue-chip firms, from electronics giants to brewers, are selling prime real estate to shore up battered balance sheets, stoking a resurgent property market. Some are moving into new offices to take advantage of relatively low rents. Big downtown office buildings are coming up for sale as Tokyo's property market regains growth momentum for the first time in almost five years, with plenty of interest among buyers, particularly Japan's public real estate trusts, experts said. "Market sentiment is more positive now than at any time since the Lehman crisis," said Andy Hurfurt, executive director at the Japanese unit of CBRE Group, a global real estate services company. "This reflects a widely held view that the market has bottomed and will move to an upside cycle." Looking to cash in on that market recovery, Sony said on Thursday it sold its 25-floor Sony City Osaki building near its central Tokyo headquarters for 111 billion yen ($1.12 billion) - the biggest deal of its kind in four years. (Read More: Sony CEO: Why the Yen Decline Ins't Helping Us) The company that gave the world the Trinitron TV and Walkman music player is shedding non-core assets - it has also offloaded its New York headquarters - as it seeks to halt a slump in its TV fortunes from competition from Samsung and others. Osaka-based rival Panasonic is also selling a central Tokyo office it uses as its headquarters in the capital, sources said, and has promised investors it will generate 130 billion yen from asset sales to underpin cash flow. Sharp has sold a 9-storey building in Tokyo and is looking to sell more in the city, a spokeswoman said. Abe Bounce Japan's real estate market crashed in the wake of the global financial crisis, and rents in Tokyo have fallen ever since. But last year, vacancy rates in the city's quality buildings slipped for three straight quarters, according to CBRE. Monthly rents, which have dropped since early 2008, were almost flat in 2012. Central Tokyo office rents - measured in tsubo, equivalent to 3.3 square meters or the size of two traditional tatami mats - peaked in late 1991 at 44,193 yen ($480) as Japan's bubble economy burst. Rents in January were 16,554 yen, according to Miki Shoji, a local real estate services firm. (Read More: Sony's PlayStation 4: Streaming, Social & Mobile) Market sentiment - from real estate to shares - has been buoyed by economic policies touted by the new administration of Prime Minister Shinzo Abe, who came to power in December. The benchmark Nikkei average this week hit a 4-year high and has been rising since mid-November on hopes of aggressive moves to tackle deflation in Asia's second-largest economy. The Tokyo Stock Exchange REIT index has risen by a fifth in three months on expectations that real estate trusts will push up profits from rent increases. The higher REIT share prices rise, the easier it is for them to raise money from selling new shares - money to plough into more properties. "As a sign of market improvement, property prices typically go up before rent increases because investors try to buy real estate assets in anticipation of higher rents," said Takeshi Akagi, head of research at Jones Lang LaSalle Japan. Japan's public real estate trusts have raised over $1.8 billion in cash so far this year, almost 70 percent of the total they raised in the whole of last year, according to Thomson Reuters data. That aggressive fund raising is a sign that REITs will be strong potential buyers, experts said. Nippon Building Fund, Japan's largest REIT by assets and the buyer of a 60 percent interest in the Sony building, raised about 70 billion yen in January from selling new shares. Kenichi Tanaka, CEO at Nippon Building Fund Management, which manages the REIT, said then the trust could afford to buy assets worth 100 billion yen, and was keen to invest quickly as now is a good time to buy properties in Tokyo. "Tokyo rents have fallen to a very low level and I don't expect rents will stay at this level," he said at the time. "That will give us upside potential if we buy properties now." More Than Just a 'Garage' Sale That potential in Tokyo's office and commercial property market is also attracting foreign investors, said Ken Negishi, representative director at Deka Real Estate Lending, the local unit of a German bank. "Investors expect rental income will rise, backed by economic growth. When companies see stronger earnings, they can afford to pay higher rents and fulfill their needs to use bigger space. We're getting into that cycle now." (Read More: Does Japan really Need $100 Billion in Spending?) CBRE's Hurfurt expects more Japanese manufacturers to sell real estate assets. "I know of other firms that are reviewing their real estate holdings and examining more effective ways of using capital," he said. Kirin Holdings, under pressure to expand abroad as Japanese consume less alcohol, is looking to sell two buildings in Tokyo, while moving into one of the city's newest offices where it can house group companies currently dotted around the capital at several locations. "Companies are offloading assets, and we see this trend as a good opportunity for us to invest in new properties," said Tatekazu Nakamura, executive manager at Mitsui Fudosan, one of Japan's top real estate developers. "We have been trying to source potential deals."

https://www.cnbc.com/id/100071583

CBRE

CBRE Group

Spanish bad bank faces struggle to lure property investors

* Investors likely to shun almost 2/3 of bad bank assets * Only holiday homes, buildings with tenants will be attractive * Bad bank hopes to sell up to 90 bln euros in assets over 15 years LONDON, Nov 1 (Reuters) - Spain's ``bad bank'' will struggle to find buyers for swathes of empty land, unfinished housing projects and doubtful loans left over from a property crash, hindering Madrid's attempts to overcome the wider economic crisis. Real estate consultants predict that almost two-thirds of assets that the government's newly-created bad bank is due to take over from commercial banks will fail to attract investors, at least in the short term and possibly ever. Spain is setting up the bad bank, known by the acronym SAREB, under a plan to cleanse the banking system of toxic property assets. SAREB aims eventually to buy up to 90 billion euros ($117 billion) of the assets at deep discounts and then sell them to investors over 15 years. Buyers are likely to snap up the likes of prime holiday homes and completed properties, commercial and residential, which already have tenants. But that leaves a majority of assets that will be much harder to shift. Between 60 and 65 percent of the foreclosed property and bad loans to be hived off by the banks will relate to undeveloped land and half-built projects, according to forecasts compiled for Reuters by real estate consultants Jones Lang LaSalle and CBRE. CBRE gave the higher figure for this category which investors will probably shun, put off by high risks and costs such as having to rip down abandoned shells of buildings that no one would ever want to occupy. Together with Ireland, Spain has suffered Europe's biggest property crash, leaving the banks with 184 billion euros of bad real estate debt and incomplete developments around the country. This has brought much of Spain's property market to a halt. ``In the last five years there has been virtually no value for land,'' said Rafael Powley, a Madrid-based director of strategic consulting at JLL. ``There are no buyers and if you want to sell it right now, there is no price for it.'' CBRE and JLL are the world's biggest property advisers and helped consultant Oliver Wyman prepare a report this year that examined how exposed Spain's banks were to souring property loans after the bubble burst. The crash has put Spain centre-stage in the euro zone debt crisis, now in its third year, as investors believe a high budget deficit, soaring state debts, and a deepening economic contraction will force Madrid to seek more external help. Spain has already secured up to 100 billion euros of European aid to rescue the banks worst hit by the property collapse. Madrid may now have to take a full sovereign bailout, with the state assuming the bad real estate assets unless it can find private sector investors to buy stakes in SAREB itself. HOPING FOR INVESTORS On Monday the Bank of Spain said property loans would be moved into the bad bank at an average discount of 45.6 percent in the hope of attracting investors. The figure would be 63.1 percent for foreclosed assets and 79.5 percent for empty land. The central bank declined to comment on the CBRE and JLL forecasts. Madrid hopes private investors will own at least 55 percent of SAREB, which was created as a condition of the European aid for the banks and is due to start operating by the end of November. About two-thirds of the assets transferred in an initial wave of 44 billion euros will be loans and the rest foreclosed properties. Investing in land or half-built developments means spending money to start, demolish or complete schemes without any guarantee of selling them or finding tenants. Investors are reluctant to do this due to the Spanish recession and excessive supplies of property built up during the boom years. ``The money you need to spend upfront takes you backwards,'' said Justin O'Connor, chief executive of property fund manager Cordea Savills, which has about 7 billion euros of assets under management in Europe. ``With land you need to take a long-term view beyond the five to seven year horizon of most institutional investors,'' said O'Connor. However, his fund will look at shops and offices in Madrid and Barcelona which have already been rented out. ``The only assets of value in Spain are ones with an income stream attached,'' he said. DEMOLITION COSTS Investors are particularly wary of sites where incomplete developments will have to be torn down and rebuilt from scratch. ``Land and unfinished developments are about the same thing right now,'' said Joe Valente, a managing director at JP Morgan Asset Management, who helps manage 7 billion euros of real estate in Europe. ``Land is probably more valuable as it doesn't have any demolition costs.'' Buying loans secured against land or unfinished schemes is as unattractive as buying the assets themselves in the short-term, particularly given the lower discounts offered by the bad bank, Powley said. ``A large majority will be bad loans and a discount closer to the foreclosed asset price would have been more realistic. I wouldn't expect more than 20 percent of the loans to survive.'' Like Cordea Savills, JP Morgan is looking for income-producing bargains in the bigger Spanish cities. Valente is raising equity to buy assets outside of safe markets such as London and Paris, which he believes to be overpriced, but the CBRE and JLL figures show there will be slim pickings. Only 10 percent of SAREB's assets will relate to commercial property while housing will account for the rest, both real estate advisers said. The commercial property that goes in will be ``medium to poor quality'' and not what investors are looking for, Powley said. Morgan Stanley and private equity groups Lone Star, Cerberus and Apollo are also hunting for Spanish bargains. They will be attracted to large portfolios of completed housing in areas such as Malaga and Alicante, boosted by Russian, British and German tourists and their proximity to major airports, Powley said. Areas to avoid due to ``a huge oversupply'' of housing include Valencia, Murcia and Almeria in southeast Spain, said Patricio Palomar, head of research at CBRE in Spain, who made the bad bank forecast for Reuters. Loans backed by rented-out commercial real estate will be the other bright spot but the fact that the good is so outweighed by the bad renders the 15-year disposal time meaningless, property experts said. ``About 40 percent of the land that goes into the bad bank will never come out,'' Powley said. ``They may have to eventually get rid of it for a tenth of the price as farmland.''

https://www.cnbc.com/2021/12/14/nasdaq-100s-latest-stock-inductees-market-winners-and-losers.html

CDW

CDW

One of the Nasdaq 100's latest stock inductees should continue its outperformance, traders say

The Nasdaq 100 is welcoming a few new additions to its exclusive club. Next Monday, the tech-heavy index will add Palo Alto Networks , Airbnb , Fortinet , Lucid Group , Zscaler and Datadog and subtract CDW , Fox , Cerner , Check Point Software , Trip.com and Incyte . Those latest inductees received the Nasdaq's seal of approval, but what about investors? CNBC's "Trading Nation" asked its traders on Monday for their favorite of the bunch. Delano Saporu, founder of New Street Advisors, said Palo Alto Networks looks best positioned here. "It has had an incredible year, but it still might be a good stocking stuffer if folks are looking to add to their IT infrastructure stocks," Saporu said. Palo Alto Networks has risen more than 50% in 2021, better than the broader market. The SKYY cloud computing ETF, which holds shares in Palo Alto, has climbed just 10%. "The network security side of the business, the cloud security side of the business, and the security operations side of the business, all those segments hadn't had less than 10 new major product releases over the last three fiscal years. That tells me that the company is doing a great job of keeping up with infrastructure and IT demands," Saporu said. He calls it a "market leader" in the space and a stock that should benefit from the "secular growth story." Ari Wald, head of technical analysis at Oppenheimer, does not expect the addition to the Nasdaq 100 to have a net benefit for any of the incoming stocks. However, one inclusion and removal pairing could give the index a boost. "Probably the industry pair that I think ultimately ends up helping the index's performance is the addition of Palo Alto and the removal of Check Point Software. I think Palo Alto ends up doing better relative to the market, breaking to the upside," Wald said during the same interview.

https://www.cnbc.com/2021/11/15/cnbc-announces-speaker-lineup-for-technology-council-summit-.html

CDW

CDW

CNBC ANNOUNCES SPEAKER LINEUP FOR TECHNOLOGY COUNCIL SUMMIT

Keynote speakers include Inspiration4Mission SpaceX Flight Commander & Shift4 Payments CEO Jared Isaacman, Mandiant CEO Kevin Mandia, Former Secretary of Defense Leon E. Panetta, CyberVista Founder & CEO Simone Petrella and more CNBC's 3rd annual year-end TEC Summit, held on Wednesday, November 17 in New York, NY with a concurrent virtual experience, will be CNBC's first in-person event since the pandemic began ENGLEWOOD CLIFFS, N.J., November 15, 2021– CNBC, First in Business Worldwide, today announced the speaker lineup for the 2021 Technology Executive Council (TEC) Summit, taking place in New York, NY with a concurrent virtual experience on Wednesday, November 17th at 12pm ET. CNBC's TEC Summit is sponsored by CDW, Comcast Business, IBM, Nasdaq and Salesforce. A surge in high-profile ransomware attacks and concerns over supply chain disruptions in the last year have posed tremendous threats for technology executives in a variety of industries including public and private corporations, nonprofit organizations and government entities. Notable concerns over labor shortages and a talent skills gap also continue to plague the business community. Leaders in the technology space address these critical issues including cybersecurity, developing tech talent pipelines, digital transformation and more. CNBC's TEC, the premiere council of technology executives exclusively assembled by CNBC, is set to convene its flagship technology conference for top executives to hear from industry experts and their fellow TEC members. The idea exchange between speakers and TEC's influential C-Suite members, 30% of whom hail from Fortune 500 firms, will provide key takeaways for the entire business community. Sessions will include: The View from the Front Lines, Skills Gap Success Stories, Technology and National Security, Presentation: Predicting the Pace of Innovation, among others. CNBC anchors and reporters will moderate the interviews and content from the program will be featured on CNBC's Business Day programming and CNBC Digital. 2021 TEC Summit speakers will include: Gerald Chertavian, Year Up Founder & CEO Year Up Founder & CEO Anil Dash , Glitch CEO , Glitch CEO Cherif Gamra , TechNext COO , TechNext COO Jared Isaacman, Inspiration4Mission SpaceX Flight Commander, Shift4 Payments CEO Inspiration4Mission SpaceX Flight Commander, Shift4 Payments CEO Christopher L. Magee , TechNext Co-Founder & CEO , TechNext Co-Founder & CEO Kevin Mandia , Mandiant, Inc. CEO , Mandiant, Inc. CEO Leon E. Panetta , Former Secretary of Defense , Former Secretary of Defense Simone Petrella , CyberVista Founder & CEO , CyberVista Founder & CEO Anuraag Singh, TechNext Co-Founder & CTO To learn more about the event and view the agenda, please visit: cnbcevents.com/tecsummit/. To learn more about joining the TEC membership, visit: cnbccouncils.com/tec. For more information about CNBC Events, attending, speaking or sponsoring, please visit cnbcevents.com. About CNBC Technology Executive Council: TEC is the premiere council of technology executives assembled exclusively by CNBC. Now in its third year, this CNBC editorial initiative presents an ongoing discussion focused on how companies employ breakthrough technologies to solve problems and power growth, designed to capture the collaborative spirit of successful organizations and surface best practices of transformative organizations. From corporations — public and private — to nonprofits and government entities, the CNBC Technology Executive Council comprises top tech executives who are transforming organizations by leveraging innovation and disruption. Summit audience includes TEC members – CIOs, CTOs, CISOs, Chief Product Officers, Chief Digital Officers, and other senior technology executives – across a wide range of industries and companies. The membership also consists of technology stakeholders in the government and nonprofit sectors, academics, business leaders, and technology influencers. The TEC Summit is an exclusive event for members; learn more about the TEC and apply for membership at www.cnbccouncils.com/tec. About CNBC: CNBC is the recognized world leader in business news, providing real-time financial market coverage, business content and general news consumed by more than 547 million people per month across all platforms. The network's 15 live hours a day of news programming in North America (weekdays from 5:00 a.m. - 8:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries. CNBC also offers content through its vast portfolio of digital products such as: CNBC.com, which provides financial market news and information to CNBC's investor audience; CNBC Make It, a digital destination focused on making you smarter about how you earn, save and spend your money; CNBC PRO, a premium service that provides in-depth access to Wall Street; a suite of CNBC mobile apps for iOS and Android devices; Amazon Alexa, Google Assistant and Apple Siri voice interfaces; and streaming services including Apple TV, Roku, Amazon Fire TV, Android TV and Samsung Smart TVs. To learn more, visit https://www.cnbc.com/digital-products/. Members of the media can receive more information about CNBC and its programming on the NBCUniversal Media Village Web site at http://www.nbcumv.com/programming/cnbc. For more information about NBCUniversal, please visit http://www.NBCUniversal.com.

https://www.cnbc.com/2021/10/06/wednesday-street-calls-mcdonalds-apple-coinbase-microsoft-more.html

CDW

CDW

Here are Wednesday's biggest analyst calls of the day: McDonald's, Apple, Coinbase, Microsoft & more

Here are the biggest calls on Wall Street on Wednesday: Bank of America reiterates Facebook as buy Bank of America kept its buy rating on the social media giant. The bank said regulatory risk is still an overhang but that it likely won't affect usage. "We see potential for new regulations for FB and the social industry including, requirements to share data with outside researchers, new protections for underage users (users under 13 are restricted from FB and IG), or new regulations on what content algorithms are able to amplify." Loop initiates coverage of McDonald's as buy Loop said the fast-food giant has an "aggressive and unique marketing platform." "Following a decline in MCD 's U.S. same-store sales during the early stages after the outbreak of COVID-19 (comps were down 8.7% domestically in 2Q20), the company's same-store sales quickly recovered to mid-single-digit growth during the second half of last year. MCD's comps accelerated further to 13.6% growth in 1Q21 and 25.9% growth in 2Q21." JPMorgan reiterates Apple as overweight JPMorgan said it expects a "strong selling season" from Apple. The bank also noted that supply chain risks exist, especially if there is a coronavirus resurgence. "While the supply ramp on the new iPhones have been slower than typical, beyond what was already a slightly delayed start of production due to issues with the camera module, the magnitude of those constraints are moderating at this time, and Apple is well positioned for a strong sales quarter in C4Q/F1Q." Loop initiates coverage of Dave & Buster's as buy Loop said it sees comparable sales continuing to accelerate as the economy reopens. "Looking ahead, we believe pent-up demand boost could continue to drive higher sales for PLAY for at least the next 6-12 months." Goldman Sachs downgrades JetBlue to neutral from buy and American Airlines to sell from neutral Goldman downgraded the two airline stocks and said it sees a "weaker pricing environment" and cost headwinds associated with JetBlue's partnership with American. "However, we are downgrading JetBlue to Neutral from Buy and American to Sell from Neutral for idiosyncratic reasons that will be exacerbated in a weaker pricing environment." Read more about this call here. Loop initiates coverage of Domino's as buy Loop said that it sees a "favorable environment" for delivery and takeout operators. "The company's international business should also benefit from increased at-home food consumption trends into the foreseeable future. DPZ 's international comps accelerated significantly over the last 12+ months, although unit growth was hampered by construction delays even more internationally compared to the U.S." Morgan Stanley reiterates Microsoft as overweight Morgan Stanley said its recent survey checks show Microsoft has a "dominant" market position and "reasonable" valuation. "The most recent 3Q21 CIO survey highlights Microsoft's solid position in high priority and secularly strategic areas of spend. Microsoft's topline should continue to benefit from both the favorable overall software spending outlook for 2H21 and 2022 and improving positioning against these high CIO priority items." Morgan Stanley reiterates General Motors as a top pick Morgan Stanley kept its top pick status on the automaker and said the stock is undervalued. " GM is trying to solve for de-carbonization and autonomy... two of the hardest challenges in business today – ones that requires the best people and prodigious amounts of attractively priced capital. Ultimately, we think the best measure of GM's success will come down to its ability to attract the best people and lowest cost of capital to the mother ship." Needham reiterates Tesla as underperform Needham said Tesla stock is still overvalued. " Tesla shares have rallied for the last 4 months, making the current valuation even less compelling in our view and raising downside risks. Although we are not changing our estimates at this time as we do not have the quarter's full financials, we suspect our sales and EPS expectations will go lower on the model mix shift, with additional lower ASP (average selling price) vehicles unable to make up for the loss of sales of higher ASP vehicles, with all other assumptions remaining the same." Loop initiates coverage of Papa John's as buy Loop said that the pizza company's comps continue to accelerate. "Per the latest conversations with our domestic Papa John's franchisee contacts, while consumers did start to eat out more often as markets began to re-open, eating out vs delivery/take-out trends did not return anywhere close to pre-pandemic levels. Also, a significant portion of independent pizza QSR operators were forced to close permanently during 1H21 due to the pandemic." Goldman Sachs downgrades U.S. Steel to sell from neutral Goldman said in its downgrade of the steel company that it sees negative free cash flow momentum. "That said, we believe there are opportunities to be more tactically positioned among the domestic steel participants, and we update our views to reflect a slightly more defensive positioning among the flat steel producers. We downgrade X to Sell from Neutral on higher capital intensity driving negative free cash flow momentum, Read more about this call here. Morgan Stanley reiterates Western Digital as overweight Morgan Stanley reiterated its overweight rating on Western Digital and said it sees a "strong value opportunity." "As gross margins bottom and begin to improve throughout the year investors begin to value the stock on through cycle earnings." Loop initiates coverage of Wendy's as buy Loop said that it's bullish on Wendy's breakfast opportunity. "The nationwide launch of WEN 's breakfast platform was the key driver in enabling the company to outperform most of its peers over the last 12-18 months." Morgan Stanley downgrades Seagate to equal weight from overweight Morgan Stanley said in its downgrade of the data storage company that it's starting to see "cracks in hardware fundamentals." "We downgrade our IT Hardware industry view to Cautious on deteriorating data, including a drop in CIO Hardware spending intentions and rising inventory levels. We expect performance breadth to narrow further – as a result, we downgrade CDW and STX from OW to EW." Goldman Sachs reiterates Coinbase as buy Goldman reiterated its buy rating on Coinbase and said it expects a top-line beat when the crypto company reports earnings in early November. "We expect the focus of the call to be around the regulatory environment and whether there are any signs that other new products on the crypto side could be at risk from the tightening regulatory backdrop, although we believe street models weren't baking in much in this regard." Goldman Sachs upgrades Cleveland-Cliffs to buy from neutral Goldman said in its upgrade of Cleveland-Cliffs that it sees strong free cash flow. "We see three factors drive our positive view: (1) auto contract repricing could drive upward revisions to 2022E average selling prices, (2) we see accelerated deleveraging and strong free cash flow generation allows for capital allocation flexibility, and (3) the shares appear discounted." Stifel reiterates Peloton as buy Stifel lowered its price target on the stock to $120 from $140. The bank also said it sees several drivers of sustainable growth going forward. "We continue to see multiple drivers for near-term growth as Peloton invests behind the recent Bike price reduction and the reintroduced Tread. Longer term, we see ongoing international expansion and new hardware opportunities as drivers of sustainable growth." Morgan Stanley reiterates Signature Bank as a top pick Morgan Stanley kept its overweight rating on the commercial bank and says it has a "highly attractive valuation." "Broadly speaking, we think 3Q21 could be a slightly better quarter than the market might be expecting, which could bode well for both earnings revisions and bank valuation multiples. Our favorite ideas include owning SBNY on exceptional balance sheet growth at a highly attractive valuation." Wolfe downgrades Delta Airlines to peer perform from outperform Wolfe downgraded Delta Airlines mainly on valuation. "Every industry is different but the 'transition year' is common to all. And though each one is unique in its own way it usually means the same thing: results won't be great. But some transition years are better than others, like the looming transition year in 2022 for the airlines, for one. And history suggests the market may be patient if results are bad but improving." A McDonald's restaurant is pictured in Encinitas, California. Mike Blake | Reuters

https://www.cnbc.com/2021/10/06/stocks-making-the-biggest-moves-midday-dow-general-motors-us-steel-and-more.html

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Stocks making the biggest moves midday: Dow Inc, General Motors, U.S. Steel and more

The GM logo is seen on the facade of the General Motors headquarters in Detroit on March 16, 2021. Check out the companies making headlines in midday trading. Dow Inc. — Shares of the chemicals company dropped 3.3% to lead the blue-chip Dow Jones Industrial Average lower. The decline in Dow's share price came after the company's investor day event, where it outlined plans to drive earnings growth and its path to zero-carbon emissions. General Motors — GM shares fell 0.8% after the automaker said it plans to double its annual sales to $280 billion by 2030 as it transitions to all-electric vehicles and grows its new software- and data-focused operations. The announcement came ahead of the company's investor presentation. U.S. Steel , Nucor — Shares of the steel producers fell on Wednesday after downgrades from Goldman Sachs. The investment firm said that it expected the price of steel to pull back sharply from its abnormally high levels early next year. Shares of U.S. Steel fell 8.7%, while Nucor lost roughly 2.8%. American Airlines , JetBlue — The airline stocks retreated after downgrades from Goldman Sachs. The firm said a slowdown in travel recovery and higher fuel prices could weigh on the airlines. American Airlines shares dipped 4.3% and JetBlue fell 2.7%. Palantir – Shares of the data company, known for its many government contracts, gained 1.6% following news that it won an $823 million contract with the U.S. Army to deliver its intelligence data fabric and analytics foundation using Palantir's Gotham operating system. Coinbase – Shares of the crypto services firm jumped 4.3% after Goldman Sachs reiterated its buy rating on the stock and said it expects a top-line beat when it reports earnings in November. The price of bitcoin also rallied to a near five-month high of $55,000. Coinbase trades in tandem with the bitcoin price due to its reliance on trading revenue. Manchester United — Manchester United shares sunk 13.7% after the Glazer family, which controls the soccer club, announced a 9.5 million share offering. Manchester United will not receive any proceeds from the sale. HSBC Holdings — HSBC shares added 3.1% after UBS upgraded the stock to a buy rating from neutral. UBS cited an attractive valuation and optimistic expectations for HSBC's financial performance next year. Seagate Technology , CDW — Shares of the technology companies fell after downgrades from Morgan Stanley. The firm downgraded both Seagate Technology and CDW to equal weight from overweight and cut price targets for each stock. Seagate Technology lost 5.3% while CDW shed 4.7%. — CNBC's Tanaya Macheel, Jesse Pound and Yun Li contributed reporting

https://www.cnbc.com/2021/10/18/stocks-making-the-biggest-moves-midday-disney-state-street-occidental-and-more.html

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CDW

Stocks making the biggest moves midday: Disney, State Street, Occidental and more

The New York Stock Exchange welcomes The Walt Disney Company (NYSE: DIS), today, Tuesday, May 4, 2021, in honor of Star Wars Day. Check out the companies making headlines in midday trading. Occidental Petroleum — Shares of the energy company gained 4% after Truist upgraded the stock to a buy rating based on an expected jump in shareholder returns. The firm also raised its target on the stock from $35 to $50, with the new forecast implying a nearly 60% upside from Friday's closing price. APA and Diamondback Energy , meanwhile, advanced 2.1% and 0.9%, respectively, on the back of West Texas Intermediate crude futures, the U.S. oil benchmark, rising to its highest level in seven years on Monday. Zillow — The real estate stock dropped 9.5% after Zillow announced that it would not sign any new contracts to buy homes through the end of the year "due to a backlog in renovations and operational capacity constraints." In a press release, the company's CEO cited labor and supply issues as a reason for the backlog. Walt Disney — Shares of the media giant ticked 3% lower in midday trading after Barclays downgraded Disney to equal weight from overweight. The Wall Street firm cited a slowdown in subscriber growth for Disney+, saying that the company's long-term subscriber goals seemed optimistic. Albertsons — Albertsons shares rose 3.3% after the supermarket chain's quarterly earnings report beat Wall Street's expectations. The company posted profit of 64 cents per share on revenue of $16.51 billion, versus 45 cents per share on revenue of $15.86 billion expected, according to StreetAccount. Albertsons also increased its quarterly dividend by 20%. Biogen — Shares of the drugmaker fell 4.1% in midday trading after announcing its late-stage trial of an experiment ALS treatment did not reach its primary goal. State Street — State Street shares added 2.2% after the financial services firm's third-quarter earnings beat expectations. The company posted adjusted earnings of $2 per share versus $1.92 per share expected, according to StreetAccount. Revenue also topped projections. State Street said it would resume its share buyback program in the second quarter of 2022. Virgin Galactic — Shares of Virgin Galactic fell 1.5%, continuing a slide from Friday, after UBS downgraded the stock to sell from neutral. The downgraded followed Virgin's announcement last week that it was delaying its next flight launch until 2022. Philips — Shares of Philips fell 3.1% after the Dutch medical technology company reported lower-than-expected quarterly revenue. Philips also lowered its sales and profit outlook for the full year, citing persistent supply chain challenges. Stellantis — Shares of Stellantis retreated 2% after the automaker announced it would form a joint venture with battery marker LG Energy Solution to produce battery cells and modules for North America. The batteries would be supplied to Stellantis plants in the U.S., Canada and Mexico. Revance Therapeutics — Shares of Revance Therapeutics plunged 39.2% after the U.S. Food and Drug Administration late last week declined to approve the biotechnology company's frown line treatment. The treatment was seen as potential competitor to the Botox injection. NetApp — Shares of NetApp fell 4.3% after Goldman downgraded the cloud computing stock to a sell from neutral. Goldman also cut its price target on the stock to $81 per share from $85. CDW — CDW shares rose 4.8% after the technology company announced it would acquire Sirius Computer Solutions for $2.5 billion in cash. Medtronic — Shares of Medtronic fell 5.5% after the company provided an update on a clinical study of its Symplicity Renal Denervation System to lower blood pressure. Medtronic said the study's independent safety monitoring board did not recommend pausing the trial early.

https://www.cnbc.com/select/penfed-platinum-rewards-credit-card-15000-point-welcome-bonus-offer/

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The PenFed Platinum is our best gas rewards credit card—new cardholders can now score a 15,000-point welcome bonus

PenFed Platinum Rewards Visa Signature® Card Learn More On PenFed's secure site Rewards 5X points on gas purchases at the pump and electrical vehicle charging stations, 3X points on supermarket purchases, 1X point on all other purchases Welcome bonus 15,000 points when you spend $1,500 in the first 3 months from account opening Annual fee $0 Intro APR 0% introductory APR for 12 months on balance transfers made in the first 90 days after account opening.* Regular APR 17.99% variable on purchases; 17.99% non-variable on balance transfers Balance transfer fee 3% Foreign transaction fee None Credit needed Good/Excellent Terms apply. 0% introductory APR for 12 months on balance transfers made in the first 90 days after account opening. After that, the APR for the unpaid balance and any new balance transfers will be a non-variable rate of 17.99%. 3% balance transfer fee per transaction. Subject to credit approval. If you take advantage of this balance transfer, you will immediately be charged interest on all purchases made with your credit card unless you pay the entire account balance, including balance transfers, in full each month by the payment due date. PenFed's rental car coverage The PenFed Platinum Rewards Visa Signature Card comes with Visa Signature perks, including a secondary auto collision damage waiver (CDW) that reimburses cardholders for the covered theft or damage as well as valid administrative and loss-of-use charges imposed by the auto rental company and reasonable towing charges that occur while you are responsible for the rental vehicle. Coverage lasts up to 15 consecutive days within your country of residence or 31 consecutive days outside the U.S. How to join PenFed PenFed is a credit union that offers a whole range of credit cards, as well as checking and savings accounts, mortgages, auto, personal and student loans. PenFed is based in McLean, Virginia, but has 48 branch locations across 15 states. Military affiliation is no longer required to have a PenFed membership, but you do have to be a member to get the PenFed Platinum Rewards Visa Signature Card or any other PenFed credit card. You can become a member by opening a PenFed savings/share account with a $5 deposit and maintaining a $5 account balance in order to keep your PenFed membership active. Our methodology To determine which cards offer the best value for filling up your tank, Select analyzed 29 of the most popular credit cards offered by the biggest banks, financial companies and credit unions that allow anyone to join and offer bonus rewards at gas stations. Bonus rewards mean a cardholder earns 2% or 2 points per dollar in a given category. In this case, gas stations. We compared each card on a range of features, including cash-back rewards, welcome bonus, introductory and standard APR, balance transfer fee and foreign transaction fees, as well as factors such as required credit score and customer reviews when available. We also considered additional perks, the application process and how easy it is for the consumer to redeem points. Select teamed up with location intelligence firm Esri. The company's data development team provided the most up-to-date and comprehensive consumer spending data based on the 2019 Consumer Expenditure Surveys from the Bureau of Labor Statistics. You can read more about their methodology here. Esri's data team created a sample annual budget of approximately $22,126 in retail spending. The budget includes six main categories: groceries ($5,174), gas ($2,218), dining out ($3,675), travel ($2,244), utilities ($4,862) and general purchases ($3,953). General purchases include items such as housekeeping supplies, clothing, personal care products, prescription drugs and vitamins, and other vehicle expenses. Select used this budget to estimate how much the average consumer would save over the course of a year, two years and five years, assuming they would attempt to maximize their rewards potential by earning all welcome bonuses offered and using the card for all applicable purchases. All rewards total estimations are net the annual fee. It's important to note the value of a point or mile varies from card to card and based on how you redeem them. When we calculated the estimated returns, we assumed that cardholders are redeeming points/miles for a typical maximum value of 1 cent per point or mile. (Extreme optimizers might be able to achieve more value.) Our final picks are weighted heavily toward the highest five-year returns, since it's generally wise to hold onto a credit card for years. This method also avoids giving an unfair advantage to cards with large welcome bonuses. While the five-year estimates we've included are derived from a budget similar to the average American's spending, you may earn a higher or lower return depending on your spending habits. 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/id/100535239

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New Highs for Stocks, Again

Baby, baby, baby oohh Like baby, baby, baby noo Like baby, baby, baby ohh Thought you'd always be mine, mine - Justin Bieber Market Musings with CNBC Market Master Robert Hum Recap: Dow 33.25 ( 0.23%) at 14,329.49, S&P 2.80 ( 0.18%) at 1,544.26, Nasdaq 9.72 ( 0.30%) at 3,232.09 Major indices close at new highs ahead of Friday's February jobs report Dow has 3rd straight record close S&P 500 closes at a 5.5-year high, Nasdaq closes at a 12-year high, Russell 2000 closes at a record high Major averages trade in narrow range today, while Dow & S&P 500 close up for 5th straight day S&P 500, Nasdaq on pace for 2nd best weekly gain this year Quick Hits Brennan receives enough votes to be confirmed CIA director H&R Block misses ests., posts bigger loss than expected Pandora jumps after beating ests. good rev. outlook Texas Instruments raises low end of prior guidance Skullcandy drops after warning of a Q1 loss Icahn raises Herbalife stake to 15.55% KKR to buy Gardner Denver for $76/share – DJ CDW IPO coming later this year - Reuters The Word on the Street Pandora Revenue Climbs 54%; CEO to Step Down/WSJ: "Pandora Media Inc. posted a 54% jump in revenue as the Internet radio company provided evidence that cost increases are slowing. It also announced its chief executive will be stepping down. Shares of the company, which posted results after the close of trading Thursday, soared more than 20% after-hours." US Economy Is Clear for Takeoff: BlackRock's Fink/CNBC – Justin Menza: "The U.S. economy is ready to take off, BlackRock Chairman and CEO Larry Fink said Thursday, citing the health of the banks and the nation's energy resources. "Our banks are the best capitalized institutions in the world," Fink said on CNBC's "Closing Bell". "The problem for banks going forward is not capital, the problem for banks going forward is making sure they originate enough loans." JC Penney Delays Stocking Some Martha Stewart Products/Ad Age: "…Today, Justice Oing spent most of the afternoon in conference with the three legal teams and also had calls with Martha Stewart and Mr. Lundgren. At the end of those meetings JC Penney agreed to hold off stocking their shelves with any Martha Stewart items--branded or not--in the exclusive product categories. That doesn't mean, however, that Martha Stewart won't be in JC Penney. The company's website is promoting the launch of her branded products online in March and in stores in April. But those products fall in the celebration, pantry and window categories, all of which are non-exclusive to Macy's. Until April 8, Macy's, JC Penney and MSLO will enter mediation with the goal of settling at least some of their issues. If no agreement can be made in the next month, the trial will start up Goldman Sachs and Morgan Stanley Near Bottom of Stress Tests/CNBC - John Carney: "Goldman Sachs and Morgan Stanley may face resistance from regulators if they attempt to significantly increase their dividends or share buybacks this year. The Federal Reserve estimates that in a stress scenario, the Tier One common ratio, the ratio of common equity to overall assets, for both Goldman Sachs and Morgan Stanley could come very close to the five-percent minimum required for banks to pay dividends or engage in buybacks. Goldman's Tier One common ratio, which stood at 13.1 percent in the third quarter of 2012, could drop as low as 5.8 percent in stress scenario in 2014. Morgan Stanley's Tier One common ratio stood at 13.9 percent in the third quarter of 2012. The Fed estimates that it could fall as low as 5.7 percent in a stressed scenario." Firms Send Record Cash Back to Investors/WSJ: "U.S. companies are showering investors with a record windfall in the form of dividends and share buybacks, helping to propel the stock market's rally. Companies in the S&P 500 index are expected to pay at least $300 billion in dividends in 2013, according to S&P Dow Jones Indices, which would top last year's record of $282 billion. Analysts say this year's number could go even higher. Apple Inc., for example, stands to pay out about $10 billion this year in a dividend policy initiated last year. Exxon Mobil Corp. and AT&T Inc. are each also set to pay dividends around $10 billion. American corporations also announced plans to buy back $117.8 billion of their own shares in February, the highest monthly total in records dating back to 1985, according to Birinyi Associates Inc. a Westport, Conn.-based market research firm. Home Depot Inc., General Electric Co and PepsiCo Inc. are among a number of large companies that announced plans last month to scoop up large amounts of their own shares." What Advertisers are Plotting for the New Facebook News Feed/Biz Insider: "Advertisers reacted mostly with optimism today about the way Facebook intends to redesign the News Feed. … Morgan Stanley analyst Scott Devitt and his team told investors: Advertisers may benefit as more screen real estate will become available for News Feed, allowing in-stream ads to become larger and more engaging, similar to high-CPM "takeover" ads on other websites. Making feeds more consistent and content-specific should improve the News Feed experience, which could make users more tolerant of ads, enable new formats (e.g., video), boost ad loads, and allow content targeting. ... Ads that mimic organic posts could perform even better with the additional screen real estate" Moon Mining Race Underway/BBC: "Google has offered a $20m grand prize to the first privately-funded company to land a robot on the moon and explore the surface by moving at least 500 metres and send high definition video back to Earth by 2015. A second-placed team stands to win $5m for completing the same mission, with bonus prizes for travelling more than 5km, finding water and discovering any traces of man's past on the moon, such as the Apollo site." Jack Welch on Apple: 'I'd Give Einhorn the Back of My Hand'/Matt Twomey: "Former General Electric CEO Jack Welch says Apple deserves better than the treatment it's getting from David Einhorn, the hedge-fund manager pressuring the iPhone maker to cough up dividends. "Look, these guys are after a quick hit. I'd blow him off," he told CNBC's "Closing Bell." "I'd give Einhorn the back of my hand. Welch said he had the same kind of problem with activist investors while heading GE. "They'd come after us, 'What are you going to do with all that cash?' Well, we're going to do a smart thing! Trust us!" Welch said. Apple is in a vicious technology war with rivals big and small, and Welch said he thinks CEO Tim Cook should be given the space to run the company. "He's got Samsung and everyone nipping at his heels. And he risks running, rather than a sexy company, a commodities company." He said Apple needs to have the cash and the flexibility to move on an acquisition in a turbulent market. "Apple deserves, after all they've done, a chance to deliver on all their promises," he said."

https://www.cnbc.com/id/46431304

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Fear Factor Decreases for Cloud Computing Services

"If the Internet goes down at the office, I can go home and use my wife’s laptop." To streamline file-sharing, Stoudt converted his small practice to a cloud operation designed by independenceIT, a technology services company also based in Allentown. Now, instead of installing software into every staffer’s computer, Stoudt buys cloud subscriptions for each employee. The workers log into individualized Web-based workplaces that provide the applications each worker needs. IndependenceIT also supplies technical support, data backups and security measures. “If the Internet goes down at the office, I can go home and use my wife’s laptop,’’ Stoudt says. Workers can connect to their virtual desktops using any device with a Web connection, from PCs to smart phones and iPads. Tony Whitton, chief executive officer of independenceIT, said his company can quickly add extra Web desktops for companies that hire temporary staffers during busy periods — such as event planners or accountants. But it’s not an entirely easy sell. Most small business owners are proceeding more slowly than Stoudt to move entire operations to the cloud. CDW commissioned a study of cloud adoption in 2011, says Billhorn. Only 21 percent of small and medium sized businesses identified themselves as cloud users, and CDW projects modest growth in over the next five years. Data security was the main concern holding back businesses of all sizes from greater cloud involvement, the CDW poll found. Among IT managers, 47 percent said their organizations would probably choose to create a “private cloud,’’ rather than sending their data to shared servers. That costlier private option would reduce the cost savings of cloud computing, the study acknowledged. Even so, Whitton said, small businesses are much more receptive than they were when independenceIT started offering cloud services a dozen years ago. In the past, small business owners were often alarmed by the prospect of turning data over to an outside firm. Potential clients are now more familiar with operating on the Web, Whitton said. Their customers, who used to respond to print ads and phone in orders, now browse websites and buy online. Small businesses are already grappling with data security questions due to their exposure to the Internet as well as wireless devices. IndependenceIT now markets its security protections — including firewalls and biometric identity checks at its server locations -- as an advantage in cloud computing. A 2011 study by the technology consulting firm SMB Group of Northborough, Mass., found cloud-based services gaining ground since 2010 among small and medium-sized businesses making IT purchases. While “packaged’’ software still leads in all categories, sales increased by 10 percent for cloud “collaboration’’ programs, which includes file-sharing and email. The firms surveyed also said they planned to increase their cloud spending in the next 12 months. For example, the SMB study predicts that the sale of virtual desktops like those used by Stoudt’s CPA practice will rise from 24 percent to 34 percent of purchases, while comparable packaged software will drop to 66 percent. SMB Group calls cloud computing “the new normal,’’ and says, whether business owners realize it or not, the cloud is a part of their office operations. “There are very few people out there not using any cloud service,’’ said SMB Group partner Laurie McCabe. As their experience with file-sharing services becomes more common, adoption will increase, she predicts. “That fear factor has subsided to a large degree.’’

https://www.cnbc.com/id/100848504

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CDW

Early Movers: CAG, MRK, CLWR, BBBY, BBRY & More

Check out which companies are making headlines before the bell on Thursday: ConAgra — The company reported fiscal fourth quarter profit of 60 cents per share, excluding certain items, a cent above estimates. Revenue was essentially in line with consensus. The food producer said it is benefiting from its Ralcorp acquisition, but is facing some profit headwinds in its commercial foods segment. Merck —The drug giant is selling a manufacturing business and options on 11 products to Aspen Group in a $1 billion deal. McCormick — The spice maker reported quarterly profit of 61 cents per share, excluding certain items, in line with estimates. Revenue was also in line, but the company lowered its full year earnings estimate to reflect weakness in its industrial markets. Winnebago —The recreational vehicle maker's third quarter profit of 27 cents per share was in line with estimates, with revenue checking in well above consensus. Net income nearly doubled from a year ago, thanks to increased sales volume and fewer incentives. Clearwire — Dish Network is dropping its bid to buy the wireless service provider. That clears the way for Sprint to buy the part of Clearwire it doesn't already own. Bed Bath & Beyond —The home retail chain reported fiscal first quarter profit of 93 cents per share, in line with estimates, with revenue also in line. The retailer has been reporting improved profits in prior quarters, though profit did slip slightly this time around.

https://www.cnbc.com/2020/07/20/going-livestream-how-in-person-summits-have-become-virtual-events.html

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Going livestream: How in-person summits have become virtual events

Colin Farrell speaks with Ann Lewnes, chief marketing officer for Adobe, at Adobe EMEA Summit at ExCel on May 12, 2016 in London, England. Jeff Spicer | Getty Images As the coronavirus pandemic closed down offices around the world, it also put a stop to in-person business gatherings. Large-format events such as the Adobe Summit, which each year hosts thousands of delegates in Las Vegas, moved online in May, while in Europe the five-day Cannes Lions advertising festival went virtual and rebranded as Lions Live in June. So how can a business possibly recreate that kind of experience online? In 2019, around 20,000 people attended SAP 's Sapphire Now conference in Orlando for several days of discussion, networking and entertainment. "Our customers have come to value hearing from us, learning about … our strategy and our product road map, aligned to what they are trying to help solve," SAP's Chief Marketing Officer Alicia Tillman told CNBC by phone. "As we've operated through this crisis, there's been increased dependency on technology to help support business continuity," she added. When the company realized the in-person element of its 2020 flagship event would have to be canceled due to lockdowns, the company set about "reimagining" it, and with only two months to go, switched it online. "I truly believe that we're scaling up," Tillman told CNBC, adding that the online event had more than three times the usual number of registrations (the virtual conference was free to attend this year, whereas it usually costs upwards of $1,000). SAP started publishing content in late April with a video series featuring the likes of author Malcolm Gladwell, NBA commissioner Adam Silver and beauty entrepreneur Jo Malone, with the aim of helping executives get through the pandemic. Then in June, the live element of Sapphire Now began, featuring new CEO Christian Klein (with some technical issues) and a live performance by Sting. Far and wide One benefit of going virtual is attracting a wider audience. While 70% of Sapphire Now delegates usually come from North America, for the virtual version SAP created 14 local events in various languages and time zones, with regional heads addressing their relevant markets. Microsoft -owned LinkedIn also found a greater audience for its TransformHER conference when it moved online in June. The event, which started as an in-person initiative in 2018, aims to advance the careers of women of color who work in technology. Delegates heard from speakers such as Morgan Stanley's Vice Chair of global wealth management Carla Harris, and Claudia Romo Edelman, founder and CEO of the foundation We Are All Human. LinkedIn's TransformHER event would usually be held in person at the tech company's San Francisco office, but it switched online in 2020 due to the coronavirus pandemic. LinkedIn Edelman and Harris would usually be speaking in front of 350 to 400 in-person attendees at LinkedIn's San Francisco office, but this year, hosting the event online meant it could reach people in places such as Morocco, the U.K. and Kenya. Harris urged attendees to consider whether they had "time, talent and treasure" to give to movements such as Black Lives Matter and the livestream had more than 62,000 views, according conference co-founder Ty Heath, who is also global lead of LinkedIn's think tank the B2B Institute. Heath said the virtual format provided greater scale and therefore more action as a result, in an email to CNBC. "On the flip side, there is something special about coming together in person," she added. "It offers you a chance to network and have more personal connection and conversation at that moment," But this is made up somewhat by the chat function on video calls: "We loved seeing the reflective commentary, sharing of resources and encouragement on the livestream chat," she said. Production values Teresa Poggenpohl, a marketing consultant and former senior executive at Accenture , is used to presenting at and attending in-person events with high production values. But, she said, switching to being an online speaker isn't quite the same. "You don't have the body language, you don't have the eye contact," she explained. Virtual events may however improve real-life conferences when they resume. Events organizers may be encouraged to film their speakers in a way that works better for a small-screen format, instead of the usual "dark room with a very small person," that videoed presentations sometimes produce, Poggenpohl suggested. Poggenpohl spoke at the B2B Marketing Ignite USA 2020 conference in May, an event that had been due to happen in-person in Chicago but switched online using technology from software company Hopin. "It gave you a main stage, it allowed multiple breakouts to happen at the same time. It allowed 'networking,' … And then they even had a virtual expo (space) for the sponsors," she said. Virtual events have also provided a boost to some businesses. Andrew Beranbom, CEO and co-founder of streaming platform First Tube Media, said that pre-pandemic, only around 5% of marketers considered live media as part of their promotional activity. A screenshot from a livestreamed fundraiser for St Jude Children's Research Hospital in Memphis, Tennessee, held during the coronavirus pandemic. First Tube Media

https://www.cnbc.com/2018/07/06/scott-pruitts-epa-successor-has-long-history-with-coal-companies.html

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Celanese

Scott Pruitt’s replacement at the EPA has a long, lucrative history of working for coal and chemical companies

Andrew Wheeler during his confirmation hearing to be Deputy Administrator of the Environmental Protection Agency before the United States Senate Committee on the Environment and Public Works on Capitol Hill in Washington, D.C. on November 8th, 2017. Alex Edelman | picture-alliance/dpa | AP Scott Pruitt resigned as administrator of the Environmental Protection Agency on Thursday after a series of ethics scandals that exposed, among other things, questionable relationships with some of Washington’s elite energy lobbyists and powerful tycoons. Pruitt’s interim replacement, deputy EPA administrator and former coal lobbyist Andrew Wheeler, meanwhile, steps into his new role with long and lucrative ties to the energy and chemical industries. The appointment indicates that President Donald Trump’s EPA will maintain its cozy relationship with same corporations it is charged with regulating. The EPA has argued that there is distance between Wheeler and his ex-clients. Regarding Wheeler’s past lobbying work, agency spokeswoman Kelsi Daniels said in a statement "as stated in his May 24, 2018 recusal statement, the Deputy Administrator is recused from specific party matters involving former clients until April 28, 2020." Murray Energy As a lobbyist for Faegre Baker Daniels, Wheeler’s most lucrative client was Murray Energy Corporation, one of the largest coal companies in the U.S. It is run by CEO Robert Murray, who has ties to the president -- including donations to Trump’s 2016 campaign. In 2013, Murray Energy paid Faegre Baker Daniels $300,000 after Wheeler and his team lobbied members of Congress for what’s described in their quarterly disclosure forms as “general energy and environmental issues," according to disclosure forms reviewed by CNBC. watch now Murray has called on Trump to arrange an emergency bailout to keep open unprofitable coal plants. In March 2017, he met with Energy Secretary Rick Perry to propose regulatory changes to the coal industry. Murray’s connections to the Trump administration are also clear through his campaign contributions during the 2016 presidential election. He gave $10,000 to the Trump Victory committee, a joint fundraising group for the campaign and the Republican National Committee. He also shelled out $2,700 directly to Trump’s campaign. He has yet to donate Trump’s re-election efforts. Murray, in a statement first given to CNBC, praised Pruitt as "very qualified" and said that he "worked diligently to protect our environment, while concomitantly providing regulatory certainty for our Nation’s economy." As for Wheeler, though, the coal baron said he hasn’t had any contact with the official since he became Pruitt's deputy. Murray declined to comment further on Wheeler’s appointment. Celanese Corp. Wheeler also lobbied for Celanese Corporation, a chemical industry giant. Ranked in 2012 as a Fortune 500 company, Celanese paid approximately $241,000 from 2011 through 2012 for Wheeler’s services, according to lobbying disclosure forms. The reports show that Wheeler, similar to his work with Murray Energy, lobbied members of Congress, only this time for “chemical issues.” Celanese CEO Mark Rohr gave $2,700 to Hillary Clinton’s campaign in 2016, but this year he has contributed $5,000 to the McConnell for Majority Leader Committee, a joint fundraising organization that supports Republican Senate Majority Leader Mitch McConnell and the Kentucky Republican Party, Federal Election Commission records show. Rohr backed McConnell’s campaign directly through the McConnell Senate Committee. Energy Fuels Resources Inc. Wheeler also worked with Energy Fuels Resources Inc., a leading U.S. based uranium producer. In 2016 it was considered the second largest supplier of uranium in the country and was moving up the ranks to become number one throughout the following year. Starting in April 2017, Wheeler’s firm was paid $20,000 for two quarters of work. Each time they met with congressional lawmakers they discussed “general energy issues related to uranium mining and milling.” Environmentalists are worried

https://www.cnbc.com/2022/01/21/markets-are-expected-to-remain-on-edge-as-the-fed-meets-in-the-week-ahead.html

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Celanese

Markets are expected to remain on edge as the Fed meets in the week ahead

Traders on the floor at the NYSE, Jan. 13, 2022. Source: NYSE Market turbulence is likely to continue in the week ahead as the Federal Reserve meets and the biggest of big tech —Apple and Microsoft — report earnings. Stocks on Friday closed out their worst week since 2020, with big losses in technology and consumer discretionary names. FANG darling Netflix was ripped after its Thursday afternoon earnings, and traders are watching to see whether the same fate will take down other big tech names. It was a painful week on Wall Street, with the Nasdaq slumping 7.6% for the week, its worst performance since March, 2020. The S&P 500 ended the week at 4,397, down 5.7%, and is now 8.7% from its Jan. 4 high. The Nasdaq has fallen 15.5% from its high and is off to its worst start to the year, through the first 14 trading days, since 2008, according to FactSet. The Federal Reserve's meeting Tuesday and Wednesday trumps everything else for markets, as investors await any new clues on how much the central bank will raise interest rates this year and when it will start. Economists expect the Fed to steer markets to a quarter-percentage-point March rate hike. There is also an avalanche of major earnings reports expected, including nearly half the Dow 30's blue chips, such as 3M, IBM , Intel, Caterpillar and American Express. The two biggest stocks in terms of market capitalization, Microsoft and Apple , report Tuesday and Thursday respectively. Tesla reports Wednesday. The economy will also be a focus with a first look at fourth-quarter GDP on Thursday, and Friday's personal consumption expenditures data, which includes the Fed's preferred inflation measure. Stocks could be in for more volatile trading, after a wild week of seesaw action resulted in steep declines in major indexes. The weakest major sectors for the week were consumer discretionary, off 8.5%, followed by communication services and technology, both lower by about 7%. Loading chart... Earnings season has been mixed so far with some high-profile negative stock reactions when investors did not like what they heard. Netflix stock cratered Friday, losing 22% after a disappointing disclosure about subscriber data when it released earnings Thursday afternoon. JP Morgan Chase fell sharply a week earlier when it reported higher expenses and slower trading activity. "We do not think that the earnings season is a macro catalyst to send the indexes significantly in one direction or the other. This is a stock-by-stock story," said Julian Emanuel, chief equity, derivatives and quantitative strategist at Evercore ISI. "The good reports are likely to be rewarded but in a much more muted fashion, whereas the companies that miss on either [revenues or earnings] are going to be disproportionately punished. It doesn't matter if you beat or miss, but if you had negative comment around margins and costs, you're going to pay a price," he added. Fed ahead The same inflation that is showing up in rising costs in company earnings and higher prices has become a major concern for the Fed. Investors will be listening closely to hear how worried the Fed is about inflation when Chairman Jerome Powell briefs the media Wednesday afternoon after the policymaking Federal Open Market Committee releases its statement. Loading chart... The Fed is not expected to raise interest rates or change policy at this meeting, but it could be setting the stage for how it will act when it finishes up its bond buying program, likely in March. Many economists expect the Fed could start raising its fed funds target rate from near-zero with a quarter-percentage-point hike in March. "The baseline is we see four hikes and the start of quantitative tightening somewhere around the middle to later in the year," Emanuel said. "I don't think the Fed is going to do anything to talk the market out of that stance." The Fed has also said it could move to shrink its balance sheet this year, and that would be another type of policy tightening, as the central bank steps back from replacing the maturing securities on its balance with market purchases. That would in essence start to decrease the size of the nearly $9 trillion balance sheet. The Fed has sounded much more hawkish, or in favor of rate hikes and other policy tightening, particularly since it released its December forecast. Powell is not likely to change his tone this week, even with stocks selling off, Emanuel said. "If Powell were going to come off sounding dovish, the presumption would be that would be a positive for the market, but we might argue that would not be," he said. "If the market doesn't really believe he's going with the four-hike plan, it's very likely that 10-year yields which have broken out of the three-year range by going over 1.80%, could make a very quick move to 2%." He added "growth is already backfooted versus value. That would be very destabilizing for the market." The Fed is already considered to be behind the curve by some Fed watchers. "The Fed has never responded this slowly to an emerging inflation risk and even today is signaling a benign hiking cycle," wrote Ethan Harris, Bank of America's head of global economic research. "If they are wrong, and inflation settles closer to 3% than 2%, it is bad news for both stocks and bonds." Bond yields stall Bond yields continued to stair-step higher early in the past week but fell back down by the end of the week. The widely watched benchmark 10-year Treasury yield touched 1.9% in the middle of the week before slipping back to 1.76% Friday. Ian Lyngen, BMO head of U.S. rates strategy, said the bond market is pricing in a move in the fed funds rate to 1.75%. He said the Fed would have to indicate it could push the funds target higher in order for the 10-year to get to 2% "We expect it will consolidate in this range until Wednesday," Lyngen said. "If the Fed does not come out as more hawkish, then we'll see a classic 'buy the rumor, sell the fact,' and the 10-year yield drifts lower." Yields move opposite price.

https://www.cnbc.com/2022/01/21/cramers-investing-club-stocks-sink-this-week-ahead-of-big-tech-earnings-next.html

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Celanese

Cramer's Investing Club: Stocks sink this week ahead of Big Tech earnings next

Markets continued to take a beating this week as investors appeared to be pricing in even more hawkish Federal Reserve action throughout the year than originally feared. Fortunately, we will get an update next week, when Fed Chairman Jerome Powell hosts the FOMC press conference on Wednesday, at 2:30 p.m. ET, a half hour after the central bank's policy statement for its two-day January meeting. Taking a quick peek at the CME Fed Watch Tool , the market is currently factoring in four quarter-point interest rate hikes as the most likely outcome by the end of the year. However, more telling is how those expectations have changed over the past month. Expectations for three hikes this year declined from 30.2% to 22.7% over the past month, while expectations for four hikes jumped from 20.5% to 32% and expectations for five hikes jumped from 8.2% a month ago to 24.3% on Friday. With that in mind, it's also worth remembering that nothing has actually happened yet other than the Fed striking a more hawkish tone. That change in tone has achieved two things. First, the Fed now has cover, the market believes they are ready and willing to clamp down should the inflationary data keep going up. That's because they've signaled that they will be able to do so should the data support it without catching anyone off guard. They'll have telegraphed the move months in advance. Second, the Fed got the market to do at least some of the work for them as the 10-year Treasury yield has finally started to advance. Remember, the 10-year Treasury serves many purposes, for starters it is the so- called risk free-asset that potential returns on actual risk-assets is considered against. Treasury yields are also used as a benchmark for other debt assets such as corporate bonds, auto loans or mortgage rates. So, once the 10-year yield starts moving to the upside, those other securities tend to rise as well and can therefore serve as a natural "pumping of the brakes" on the economy. Take home prices for example, when rates are rock bottom, home prices are free to rise to the sky. However, with the 10-year yield advancing, mortgage rates start to advance; when mortgage rates advance, the monthly payments (a combination of the interest rate and the amount of money borrowed, the latter of which rises with list prices) become more expensive (think less affordable) and serves to slow the rate of home price appreciation. Finally, now that we have covered discounted cash flow analysis, price-to-earnings multiples, and the importance of rate expectations over the past three weeks, lets remember the single most important thing as longer-term investors, the one thing we have to fall back on when markets want go down seemingly endlessly: company fundamentals. While interest rates and valuation multiples fluctuate and investors have a tendency to overshoot on both the upside and the downside when attempting to price in future market environments, the one thing we can do when the "Wall Street fashion show" turns against us is dig in and re-analyze the underlying fundamentals. We do this with industry checks and by listening to investor presentations and earnings calls from both the companies we own and their peers. This is what we are doing now as we put money to work, we are looking for stocks of company's where the price has come down (the numerator in a P/E valuation model) but the underlying fundamentals and therefore earnings power (the denominator) remain intact. When you find a company like this it means the stock actually is getting cheaper. So just as you do when your favorite store has a sale, you should be looking to buy, not sell because the item you are getting is just as good as it was a month ago but it's selling at a lower valuation — i.e, you are paying less per dollar of earnings. This is not the case when the fundamentals are deteriorating, in that case the price may come down but if the earnings power declines the stock doesn't get any cheaper. If anything, it may actually be getting more expensive. That is why we are so focused on the stocks of companies that "do things and make stuff" because the companies with real earnings power become more attractive as the stocks decline and that provides us the conviction we need to stick with our discipline, even if it means holding our nose to buy. Here's a quick look at some of the broader market measures we like to keep an eye on: The U.S. dollar index was holding as the mid-95 level. Gold was about flat on the week, trading at around the $1,800 level. WTI crude prices were holding in the mid-$80s per barrel. The yield on the 10-year Treasury yield was holding at around 1.75% level. Earnings and the economy Within the portfolio, we received earnings from Morgan Stanley and Union Pacific . While earnings season and Fed rate hike expectations are certainly what shaped this week's action, we also got a few key macroeconomic updates to consider. Wednesday December housing starts : +1.4% MoM to a seasonally adjusted annual rate (SAAR) of 1.702 million vs. 1.65 million expected; +2.5% YoY December building Permits: +9.1% MoM to a SAAR of 1.873 million vs. 1.7 million expected; +6.5% YoY Thursday Weekly initial jobless claims : 286,000 vs. 225,000 estimate; four-week moving average for claims: 231,000 (+20,000 vs. prior week) December Existing Home Sales : -4.6% MoM to a SAAR of 6.18 million vs. -0.5% expected; -7.1% YoY What we are watching ahead Fourth-quarter earnings will really ramp up next week. Within the portfolio, we will hear from Microsoft will report Tuesday after the closing bell; from Boeing and Abbott Labs on Wednesday before the opening bell; from Mastercard , Nucor and Danaher on Thursday before the opening bell; from Apple on Thursday after the closing bell; and from Chevron on Friday before the opening bell. As a reminder, we will provide our full analysis of every earnings report for the companies held in the portfolio. Here are some other reports we will be watching. Monday Open: Philips (PHG), Halliburton (HAL), Bank of Hawaii (BOH), Community Bank (CBU) Close: IBM (IBM), Steel Dynamics (STLD), Logitech (LOGI), Crane (CR), Brown & Brown (BRO), Zions Bancorp (ZION) Tuesday Open: Ericsson (ERIC), United Micro (UMC), Verizon (VZ), Johnson & Johnson (JNJ), General Electric (GE), Archer-Daniels (ADM), Lockheed Martin (LMT), Raytheon Technologies (RTX), American Express (AXP), 3M (MMM), NextEra Energy (NEE) Close: Capital One (COF), Texas Instruments (TXN), Canadian National Rail (CNI), Silgan Holdings (SLGN) Wednesday Open: AT & T (T), Anthem (ANTM), Progressive (PGR), General Dynamics (GD), Freeport-McMoRan (FCX), Kimberly-Clark (KMB), Automatic Data (ADP), Corning (GLW), Norfolk Southern (NSC) Close: Intel (INTC), Tesla (TSLA), Flex (FLEX), Whirlpool (WHR), Avnet (AVT), Lam Research (LRCX), Ameriprise (AMP), Seagate (STX), United Rentals (URI), Levi Strauss (LEVI), Crown Castle (CCI), Las Vegas Sands (LVS), Xilinx (XLNX) Thursday Open: Comcast (CMCSA), which owns CNBC, Valero Energy (VLO), HCA (HCA), Dow (DOW), SAP (SAP), McDonald's (MCD), International Paper (IP), Altria (MO), Textron (TXT), Tractor Supply (TSCO Close: Mondelez (MDLZ), Visa (V), US Steel (X), Western Digital (WDC), Stryker (SYK), KLA Corp (KLAC), Celanese (CE), Canadian Pacific (CP) Friday Open: Phillips 66 (PSX), Charter Communications (CHTR), Caterpillar (CAT), LyondellBasell (LYB), Colgate-Palmolive (CL), VF Corp (VFC) Close: None On the macroeconomic front, we'll be keeping an eye on the geopolitical sphere as well as for the following releases (all times ET). Monday 8:30 Chicago Fed national activity index 9:45 Markit PMI manufacturing Tuesday 9:00 FHFA home price index 9:00 S & P/Case-Shiller 10:00 Consumer confidence 10:00 Richmond Fed index Wednesday 8:30 Wholesale inventories 10:00 New home sales 2:00 FOMC meeting 2:30 Powell press conference Thursday 8:30 Initial jobless claims, continuing claims 8:30 Durable orders 8:30 GDP 10:00 Pending home sales index 11:00 Kansas City Fed manufacturing index Friday 08:30 ECI civilian workers 08:30 Personal consumption expenditure 08:30 Personal income 10:00 Michigan consumer sentiment (Jim Cramer's Charitable Trust is long MS, UNP, MSFT, BA, ABT, MA, NUE, DHR, AAPL and CVX. 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. Traders on the floor of the NYSE, Jan. 21, 2022. Source: NYSE

https://www.cnbc.com/2022/02/18/what-to-watch-today-wall-street-look-flat-after-the-dows-worst-day-of-the-year.html

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Celanese

What to watch today: Wall Street look flat after the Dow's worst day of the year

BY THE NUMBERS IN THE NEWS TODAY STOCKS TO WATCH

https://www.cnbc.com/2022/02/18/stocks-making-the-biggest-moves-premarket-draftkings-roku-deere-and-others.html

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Celanese

Stocks making the biggest moves premarket: DraftKings, Roku, Deere and others

Check out the companies making headlines before the bell: DraftKings (DKNG) – The sports betting company's stock tumbled 13.2% in the premarket, despite a narrower-than-expected quarterly loss and revenue that beat estimates. DraftKings projects a wider-than-expected adjusted loss for the full year as costs continue to rise. Roku (ROKU) – Roku shares were down 26% in the premarket, despite better-than-expected earnings for its latest quarter. The maker of video streaming devices' revenue fell short of analyst forecasts, and it issued a weaker-than-expected outlook due to higher component prices and supply chain disruptions. Bloomin' Brands (BLMN) – The restaurant operator beat estimates by 8 cents with an adjusted quarterly profit of 60 cents per share, with revenue slightly above consensus. The parent of Outback Steakhouse and other chains also reinstated its quarterly dividend and announced a new $125 million share buyback program. The stock surged 6.6% in premarket action. Deere (DE) – The heavy equipment maker reported quarterly earnings of $2.92 per share, well above the $2.26 consensus estimate, with revenue also topping analyst forecasts. The company also raised its annual profit forecast amid solid demand and higher prices. Shake Shack (SHAK) – Shake Shack reported an adjusted quarterly loss of 11 cents per share, narrower than the 11-cent loss analysts were anticipating, while the restaurant chain's revenue matched Wall Street forecasts. Shake Shack said the omicron variant kept customers away and led to some temporary restaurant closures. It also issued a downbeat current-quarter forecast amid increasing costs. Shake Shack plunged 15.5% in premarket trading. Dropbox (DBX) – Dropbox beat estimates by 4 cents with adjusted quarterly earnings of 41 cents per share, and the software company's revenue also topped Street projections. Paid user numbers and average revenue per user also came in above consensus, but the stock slid 6.3% in premarket action as its guidance for current-quarter profit margin was slightly lower than expected. DuPont (DD) – DuPont finalized a deal to sell the majority of its materials unit to specialty materials maker Celanese (CE) in an $11 billion deal. DuPont jumped 4.1% in the premarket while Celanese gained 3.8%. Pilgrim's Pride (PPC) – Pilgrim's Pride slumped 14.8% in premarket trading after Brazilian meatpacker JBS dropped plans to buy the portion of the poultry producer that it doesn't already own. JBS holds an 80% stake in Pilgrim's Pride, but the two sides could not agree on terms of a deal for the remaining 20%. Intel (INTC) – Intel Chief Executive Officer Pat Gelsinger told an investor gathering that the chipmaker is aiming to achieve double-digit annual revenue growth in three to four years. Gelsinger also said Intel may be interested in participating in a potential consortium if one is formed to buy British semiconductor company Arm Ltd. Intel fell 1% in premarket trading. NortonLifeLock (NLOK) – NortonLifeLock pushed back the expected completion date of its deal to buy rival cybersecurity company Avast to April 4 from Feb. 24, saying it was still waiting for regulatory approvals in the U.K. and Spain. NortonLifeLock fell 1% in the premarket.

https://www.cnbc.com/2017/10/09/nobel-prize-winner-thalers-fund-has-nearly-doubled-sp-bull-market.html

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Celanese

Nobel Prize winner Thaler helps run a fund that’s nearly doubled the S&P since the bull market began

This year's winner of the Nobel Prize for economics is also an advisor to investment funds with stellar track records. Behavioral economist Richard Thaler is principal at Fuller & Thaler Asset Management, which helps advise a $5.8 billion Undiscovered Managers Behavioral Value Fund. It has almost doubled the 's gains since the beginning of the bull market. Class A shares of the fund (UBVAX) are up 512 percent from the beginning of the market's climb on March 9, 2009, through Friday's close. The S&P 500 has risen 277 percent to records over that time. Thaler told CNBC PRO in a June 2016 interview how his work in behavioral economics helps him identify beaten-down companies that show signals of turnaround. "One of the signals we use is insider buying, especially if the CFO all of a sudden doubles his holdings, we give that firm a hard look," he said. Undiscovered Managers Behavioral Value A indexed to S&P 500 at March 9, 2009 Source: FactSet The fund focuses on small-cap stocks, with financials having the largest weighting at 25 percent at the end of August. New Jersey-based bank Investors Bancorp and Tennessee-based financial services company First Horizon National are the two largest holdings in the fund, followed by real estate investment trust Colony NorthStar , aircraft parts distributor KLX and chemicals company Celanese , according to the website of the fund distributor, JPMorgan Chase. The fund's six-fold climb since the beginning of the bull market also outstrips the 340 percent gain of the small-cap Russell 2000 index. That said, UBVAX is fairly pricey to own, with net fees of 1.44 percent. The fund has also climbed only about 8 percent this year, falling short of the Russell's 11.5 percent gain and the S&P's nearly 14 percent rise. But another Thaler fund, the Fuller & Thaler Behavioral Small-Cap Equity Fund (FTHSX) , has outperformed those two benchmark indexes with gains of 14.7 percent this year. The asset management firm's other talent includes 2002 Nobel Prize winner Daniel Kahneman. The author of "Thinking, Fast and Slow" is director emeritus at Fuller & Thaler. Thaler told CNBC last year he didn't own individual stocks because he preferred to trust a good portfolio manager. "I think the biggest mistake people make is overconfidence. They think they're better investors than they are. My number one advice would be, keep track. If you think you're a hot shot investor, really try to compute what your rate of return is. ... We know that a majority of active managers fail to meet their benchmarks after they've paid their fees," he said. "The one stock you absolutely should not own is the company you work for."

https://www.cnbc.com/2017/10/13/stock-should-keep-going-higher-even-with-earnings-headwinds.html

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Celanese

Stock should keep going higher even with earnings headwinds

Third-quarter earnings should be fairly strong, even though overall growth could look pretty washed out, thanks to hurricanes Harvey, Irma and Maria. The storms have done their damage to economic data, and now we'll see the impact on the profits of a good many S&P 500 companies, with the first big wave of third-quarter earnings in the coming week. For most, the damage, will be slight like the 3 percentage points to earnings reported by from natural disasters — or the 2 cents per share hit to fiscal first-quarter earnings from Hurricane Harvey. The airline sector is likely to see a bigger hit, with the "$120 million headwind" reported by Delta Air Lines from lost income. But for the insurers, as a group, the impact has been huge, evidenced by a recent round of estimate cuts for the sector to account for catastrophic losses. The insurance industry's estimated earnings decline is so big in fact, that it knocked several percentage points off of earnings growth for the S&P 500, estimated by Thomson Reuters to be running at 4.4 percent. Without insurers, that growth would be 7.1 percent, still well below the more than 12 percent growth of the last quarter. Insurers reporting in the coming week include Tuesday's report from , which saw a 35 percent reduction in its earnings estimate, and Travelers on Thursday, with its estimate cut 32 percent, according to Factset. Analysts expect earnings to be an overall positive for the stock market, which was quiet in the past week but continued its upward trajectory to new highs. "I'm really befuddled. This is not a tape that I've been kind of supportive of, but the market has done fine. We're entering a seasonally good time of year. It's hard to argue against the tape at year-end," said strategist Thomas Lee, co-founder of Fundstrat in a phone interview. Lee, in a later appearance Friday on CNBC, said he became less cautious about stocks. "We basically got steamrolled. We don't want to be bearish," he said, noting earnings should be good and there's a positive impact on the market from . "This week we noticed that high yield finally confirmed the rally in equities. High yield was widening since March and this week just made a new low which means we're synchronized with equities." Companies reporting in the week ahead include Netflix on Monday; Johnson & Johnson, IBM, Goldman Sachs and UnitedHealth on Tuesday; United Continental and Abbott Labs on Wednesday; Verizon and Blackstone on Thursday, and GE, Procter & Gamble and Honeywell on Friday. Big banks Citigroup, Wells Fargo and JPMorgan have already reported. According to Thomson Reuters, the financial sector earnings growth would be 6.1 percent if not for the drag from insurers. Including the insurance companies, financial sector earnings are expected to decline by 8.6 percent, with the insurers down 65 percent. According to John Butters, senior earnings analyst at Factset, the biggest hits from the hurricanes and Mexican earthquake were felt by five companies — , , and with a $4 billion reduction in forecasts as of last week. Butters said the insurers are by far the worst hit, but already with just 28 of the S&P reporting as of Thursday, he saw mentions of hurricane impact from 13 of those companies. That included Darden, Carnival, Costco and Fastenal, which he notes specifically said hurricanes hitting the Gulf Coast and Puerto Rico "shaved 20 basis points to 30 basis points from revenue during the quarter." Energy sector earnings are expected to be the strongest, with growth of 140 percent, followed by technology, with 12 percent growth, according to Thomson Reuters. Utilities profits are expected to be down 2.7 percent and telecom earnings are estimated to decline 1.2 percent. If the energy sector was excluded, S&P 500 earnings would be up just 2.3 percent, according to Thomson Reuters. Economic reports in the coming week should also show the impact of hurricanes. There's industrial production for September on Tuesday, housing starts Wednesday and existing home sales for September on Friday.

https://www.cnbc.com/2017/10/16/stocks-making-the-biggest-moves-after-hours-nflx-sonc-more.html

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Celanese

Stocks making the biggest moves after hours: NFLX, SONC & more

Check out the companies making headlines after the bell: Netflix 's stock rose more than 1 percent in the extended session after the company posted slightly better-than-expected third quarter results. Sonic 's stock dropped more than 2 percent in extended trading after the company posted fourth quarter earnings. The fast-food chain blamed Hurricane Harvey, in part, for a decline in same-store sales. Celanese shares increased slightly in extended trading after the company posted third quarter results. Badger Meter 's stock fell more than 10 percent on light volume in extended trading after the company posted its third quarter results.

https://www.cnbc.com/id/23014929

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Celanese

Stocks on the Move: Toyota, Emerson, Posco and More

Following are the day's biggest winners and losers. Find out why shares of Illumina popped while Posco dropped and more. POPS (stocks that jumped higher) Celanese popped 4%. The chemical company said higher prices and growth in China helped to boost its quarterly profit. Adami: Buy early-cycle recovery names like Celanese on dips. Church & Dwight popped 3%. The company behind Arm & Hammer and Trojan condoms said sales of electric toothbrushes and kitty litter led to a 32% increase in profits. Adami: The company was happy with guidance. It’s a buy. Illumina popped 10%. This maker of gene analysis tools forecast a profit that beat expectations. Macke: This has long been a favorite of the shorts and has been tortured on the way up.

https://www.cnbc.com/2017/05/12/activist-investor-loeb-exits-apple-stake-buys-into-snap-and-hpe.html

CE

Celanese

Activist investor Loeb exits Apple stake, buys into Snap and HPE: Filing

Dan Loeb's Third Point exited its position in Apple and bought shares of Snap and Hewlett Packard Enterprise in the first quarter, according to a SEC filing Friday. The hedge fund also added positions in T-Mobile , Salesforce.com , Qualcomm , Celanese and Pioneer Natural Resources . Third Point closed positions in Molson Coors Brewing, Union Pacific, and a small stake in Goldman Sachs , among others. The fund reduced its holdings in Bank of America and JPMorgan Chase . In the fourth quarter of last year, hedge funds bought financial stocks in a bet that President Donald Trump's proposed tax reform and deregulation would benefit the industry. However, traders are increasingly worried that tax reform may be delayed. Information technology has overtaken financial stocks as the best performer in the S&P 500 since the election. Third Point returned just 5.9 percent in the first quarter, slightly below the S&P 500's return. Watch: Loeb urges Honeywell to spin off aerospace unit

https://www.cnbc.com/select/best-big-bank-checking-accounts-2023/

CNC

Centene Corporation

CNBC's best big bank checking accounts of 2023

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC Select will update as changes are made public. Online-only banks can offer certain advantages over big banks, such as higher interest rates and lower fees. However, a major area in which brick-and-mortar banks usually win out is convenience. Big banks offer hundreds or thousands of physical branches where customers can deposit and withdraw money. Customers also have the convenience of being able to speak to someone face-to-face and work out any account questions or requests, rather than needing to call in and deal with potentially long wait times. Luckily, you don't always need to spend more for this convenience. There are competitive checking accounts from some brick-and-mortar banks with options to waive monthly fees if you meet certain requirements. To help you choose the right bank for your needs, CNBC Select evaluated dozens of checking accounts offered by big banks, offering access to at least 700 physical branches and over 4,000 fee-free ATMs in the U.S. We considered features like fees, minimum balance requirements and ease of use, among other factors to choose the best big bank checking accounts. (See our methodology for more information on how we choose the best checking accounts.) Note: Most big banks require you to enter your zip code online for the correct account offerings, and in some cases, you might not be able to open an account because of your location.

https://www.cnbc.com/id/100150252

CNP

CenterPoint Energy

New Issue- CNP Assurances prices $500 mln Perp bond

October 9(Reuters) -Following are terms and conditions of a bond priced on Tuesday. Borrower CNP Assurances Issue Amount $500 million Maturity Date Perpetual Coupon 7.5 pct Issue price Par Reoffer price Par Payment Date October 18, 2012 Lead Manager(s) BNP Paribas, CITI, Goldman Sachs International, HSBC, JPMorgan & Nomura Ratings A+ (S&P) Listing Paris Full fees Undisclosed Denoms (K) 100 Governing Law French For ratings information, double click on For all bonds data, double click on For Top international bonds news For news about this issuer, double click on the issuer RIC, where assigned, and hit the newskey (F9 on Reuters terminals) Data supplied by International Insider. ((EMEA Fixed Income Desk Bangalore; jenifer.prabhaker@thomsonreuters.com; Reuters Messaging jenifer.prabhaker.reuters.com@reuters.net; +91 80 4135 5666, fax +44 20 7542 5285))

https://www.cnbc.com/id/100148661

CNP

CenterPoint Energy

French banks join CNP to set up 1 bln euro fund-report

PARIS, Oct 9 (Reuters) - France's biggest banks are teaming up with part state-owned insurer CNP to pool their shareholdings in various companies into a fund worth at least 1 billion euros ($1.3 billion), French daily Le Figaro said on Tuesday. The insurance arms of banking groups BNP Paribas , Societe Generale and Credit Agricole are still in talks with CNP over which stakes will go into the fund out of their 40 billion euros in collective stock investments, the paper said, quoting BNP's insurance chief Eric Lombard. "We aren't ruling out building up new positions," Lombard told Le Figaro, which said the fund would be looking at new investments in medium-sized French corporates. Incoming regulations known as Solvency II designed to bolster insurers' capital strength and risk management have pushed insurers to cut back investments in the stock market. The EU rules were to go into force this month but have now been delayed at least until 2014. ($1 = 0.7711 euros) (Reporting by Lionel Laurent; Editing by Mark Potter) ((lionel.laurent@thomsonreuters.com)(+33 1 49 49 56 85)(Reuters Messaging: lionel.laurent.thomsonreuters.com@reuters.net)) Keywords: FRANCE BANKS/INSURERS

https://www.cnbc.com/id/46074501

CNP

CenterPoint Energy

Jan. 20: Unusual Volume Leaders

Here's a look at stocks in the S&P 1,500 index displaying unusual volume in Friday's trading session. S&P 500: Trading volume in Intuitive Surgical is up 200 percent over its 10-day average, as the manufacturer of surgical systems reported a slight decline in sales and procedures during the latest quarter.

https://www.cnbc.com/id/100085941

CNP

CenterPoint Energy

FEATURE-New Orleans linemen square Katrina debt with Sandy aid

N/A

https://www.cnbc.com/id/100139864

CNP

CenterPoint Energy

CNP eyes sub debt despite Groupama's missed coupon

By Helene Durand LONDON, Oct 5 (IFR) - CNP Assurances mandated six banks on Friday morning for a dollar Reg S subordinated bond despite news that French insurance company Groupama will skip a coupon payment on a Tier 1 bond on October 22. BNP Paribas, Citi, Goldman Sachs, HSBC, JP Morgan and Nomura should be looking at pricing the deal for France's leading life insurance company as early as next week, which will be the first time that CNP has gone to the Reg S dollar market. The lead managers are confident that Groupama's decision not to pay the next coupon on a 6.298% Tier 1 on October 22 will not derail the CNP transaction. "It's not really new news that Groupama is something of a basket case so it probably doesn't come as much of a surprise for many," said a banker on the trade. CNP Assurances is 40% owned by French state bank Caisse des Depots et Consignations. CNP undertook a roadshow in Asia before the summer and will look to take advantage of the strong demand seen for higher-yielding paper and capitalise on insurance paper performance. A USD550m perpetual NC5.5 launched by Prudential in January 2011 with a 7.75% coupon was quoted with a yield of 5.20% on Friday morning. Meanwhile, a USD650m perpetual NC November 2017 priced for Aviva in July this year with a 8.25% coupon was quoted at 6.5%. Gilles Benoist, CNP's previous CEO, said during an analyst call in July this year that the company could look at coming to the bond market to refinance EUR300m of debt maturing next year. "Probably, we will make an issue by the end of the year, but the current level of the market and the rates of the market dissuades us to rush here," he said at the time. "We think that it is better to wait for the market to stabilise before raising long-term bonds." The bond's structure is still unclear but market expectations are that CNP will opt for a more plain vanilla variety. The insurer can either raise dated or perpetual debt which will be grandfathered at Tier 2 or Tier 1 equivalent under Solvency 2. CNP is no newcomer to the subordinated insurance market. It priced a dual-currency bond in April 2011, a EUR750m and a GBP300m 30NC10 issue that carried coupons of 6.875% and 7.375% respectively, although the banker said these would unlikely be used as comparables. GROUPAMA BONDS TANK In the European market, Groupama's USD1bn 6.298% Tier 1 issue widened by 184bp on the back of the news that the company would skip the coupon payment. The bonds were bid at nearly mid-swaps plus 3000bp, indicating that the news had largely been priced in ahead of the announcement. "This decision has been made within the framework of the exceptional action plan initiated by Groupama at the beginning of 2012 in order to strengthen the group's own funds by involving all the parties concerned: the holders of the 2007 subordinated notes, the regional mutuals and the employees. This decision is limited to the coupon due on 22 October 2012," company said in a statement. According to a note by SG analysts, this was shocking news and contradicted Groupama's earlier statements. "Remember that in the analyst breakfast in March Groupama said that the company has submitted a business plan to the regulator that included ALL coupon payments for 2012," they wrote. "The decision gives reason for deep concern not only about the issuer's solvency, but also the credibility of management. Based on the company's previous communication, the issuer would have been able to reach its interim target Solvency I ratio of 120% by the end of the year." (Reporting by Helene Durand, Editing by Alex Chambers, Julian Baker) ((helene.durand@thomsonreuters.com)(+44 20 7542 3469)(Reuters Messaging: helene.durand.reuters.com@reuters.net)) Keywords: INSURANCE

https://www.cnbc.com/id/100087408

CNP

CenterPoint Energy

RPT-FEATURE-N.Orleans linemen square Katrina debt with Sandy aid

N/A

https://www.cnbc.com/id/24973341

CNP

CenterPoint Energy

Utilities Powering Up

The Utilities Sector continued its advance yesterday, gaining over 1% while the Dow and S&P fell for the third day in a row. The sector has been on a run since hitting a low in early March and has been one of best performing sectors in the past three months. Since its March low, the S&P Utilities Sector is up nearly 10%. Utilities are often seen as a defensive play, with steady cash flows and solid dividends. What is impressive is the fact that this seems to be holding true even with record fossil fuel prices. Rising commodity prices increase the cost of producing electricity and regulated pricing on the transmission and distribution end make it hard (or at least slower) to pass the cost increases onto end customers. Interestingly, it is not the Nuclear leaders (a cheaper alternative to fossil) like Exelon and Entergy that have had the biggest gains. Yesterday's jump was partly driven by the recent slide in crude prices. AES Corp jumped 3.3% followed by PSEG up 2.9% and Constellation Energy up 2.7%. Here are the biggest gainers in the S&P Utilities Sector over the past three months: TECO Energy is up 30.6% and boosted its dividend in April Nicor is up 24.9% and has 4.5% dividend yield CenterPoint Energy is up 18.9% and has a 4.4% dividend yield. Energy is up 18.9% and has a 4.4% dividend yield. AES is up 18.1% in the past 3 months Dynegy is up 16.6% in the past 3 months bythenumbers.cnbc.com

https://www.cnbc.com/id/37622172

CNP

CenterPoint Energy

June 10: Unusual Volume Leaders

What follows is a look at stocks in the S&P 500 displaying unusual volume in today's trading session. Send comments to:bythenumbers@cnbc.com bythenumbers.cnbc.com

https://www.cnbc.com/2009/10/14/Biggest-Dividend-Yields-of-the-S&P-500.html

CNP

CenterPoint Energy

Biggest Dividend Yields of the S&P 500

Especially in volatile times, dividends can be a way for investors to more effectively safeguard returns. Many publicly held corporations pay out a portion of their earnings to shareholders, giving investors a payback whether the stock price goes up or down. Cramer's Rule Number Four in his "" calls these "buffers."Calculated as a percentage of share price, dividends have the potential to be cut or changed and yields vary as share prices fluctuate. For the purposes of this report, dividend yi Especially in volatile times, dividends can be a way for investors to more effectively safeguard returns. Many publicly held corporations pay out a portion of their earnings to shareholders, giving investors a payback whether the stock price goes up or down. Cramer's Rule Number Four in his "15 Rules for Playing Defense" calls these "buffers." Calculated as a percentage of share price, dividends have the potential to be cut or changed and yields vary as share prices fluctuate. For the purposes of this report, dividend yield calculations are based on trailing dividends, so dividend cuts yet to occur have not been taken into account. In fact, the #1 company on this list announced a cut in its dividend earlier this year, from $1 to $0.75, but in all likelihood it would remain in the top spot, given its current share price. Be sure to check whether a dividend is set to change or if new announcements come out regarding changes before you buy, as they occur at a company's discretion. Often, a dividend yield that is too high may be more of a warning sign than an opportunity. So, what are the biggest dividend yields on the S&P 500? Click ahead to find out! By Ariel Nelson and Paul Toscano Posted 13 Oct 2009

https://www.cnbc.com/id/37599618

CNP

CenterPoint Energy

June 9: Unusual Volume Leaders

What follows is a look at stocks in the S&P 500 displaying unusual volume in today's trading session.

https://www.cnbc.com/2022/04/06/a-fertilizer-shortage-worsened-by-war-in-ukraine-is-driving-up-global-food-prices-and-scarcity.html

CF

CF Industries

A fertilizer shortage, worsened by war in Ukraine, is driving up global food prices and scarcity

Remy Gabalda | AFP | Getty Images A fertilizer shortage has added to growing concerns about the Ukraine war's impact on the price and scarcity of certain basic foods. Combined, Russia and Belarus had provided about 40% of the world's exports of potash, according to Morgan Stanley. Russia's exports were hit by sanctions. Further, in February, a major Belarus producer declared force majeure — a statement that it wouldn't be able to uphold its contracts due to forces beyond its control. Russia also exported 11% of the world's urea, and 48% of the ammonium nitrate. Russia and Ukraine together export 28% of fertilizers made from nitrogen and phosphorous, as well as potassium, according to Morgan Stanley. Disruptions of those shipments due to sanctions and war has sent fertilizer prices skyrocketing. High grain prices are rising even more. watch now "It is a huge problem," said CF Industries CEO Tony Will in a recent CNBC appearance. He said global fertilizer supplies are very tight. CF manufactures and distributes fertilizers. "It's a confluence of factors, unprecedented demand coupled with a huge fall off in supply availability, only just exacerbated by the war in Ukraine and what's going on with exports coming out of Russia and Ukraine," Will added. A contributor to higher costs and shortages "All of this is a double whammy, if not a triple whammy," said Bart Melek, global head of commodity strategy at TD Securities. "We have geopolitical risk, higher input costs and basically shortages." "Agriculture is absolutely going to get hit. In the case of Canada, it's good for Saskatchewan, which is the largest producer of potash in the world, but farmers are going to get hurt because per acre they're going to pay a lot more," Melek said. "They're going to get lower yield simply because they're economizing, particularly in emerging markets." Grain shortages will drive up the cost of basic foods and other commodities. "That's going to lead to higher input costs for producing everything from grains, wheat and corn. The input costs are higher now because you're going to have scarcity that bids the price up as well," Melek said. Meanwhile, prices for cows, steers and pork bellies have also climbed significantly, he added. watch now Some fertilizers have more than doubled in price. For instance, Melek said potash traded in Vancouver was priced at about $210 per metric tons at the beginning of 2021, and it's now valued at $565. He added that urea for delivery to the Middle East was trading at $268 per metric ton on the Chicago Board of Trade in early 2021 and was valued at $887.50 on Tuesday. Will said CF Industries is running its plants around the clock, foregoing some maintenance and trying to expedite shipments to areas in need. "There are no new tons to make. It's just a matter of trying to get them there as quickly as we can into the marketplace," he said. Just as the price of fertilizers has jumped, the price of agricultural commodities has also been soaring, amid fears of shortages. "We are absolutely facing a problem of catastrophic proportion here," said Will. "Not only is the issue lack of availability and affordability of nutrients and inputs, but Russia and Ukraine have historically exported about 30% of the global wheat trade and 20% of global corn trade." He added that there are stocks of those commodities that are not getting out to the market because the Black Sea is closed. Rising prices for wheat, corn and soy Wheat futures for July were down slightly Wednesday. They rose about 4% Tuesday on worries about Ukraine but also on worse-than-expected U.S. crop conditions. Corn futures prices are up nearly 30% year-to-date and inched downward Wednesday on the Chicago Board of Trade. Soybean futures were also slightly lower. Morgan Stanley expects grain prices to remain above last year's levels until 2023. "Before the Ukraine war, the dry weather in [Latin America] took inventories to levels that would already keep grain prices high," wrote the Morgan Stanley analysts in a report. "The war adds uncertainties related to Ukrainian corn/wheat supply, and, more important to fertilizer use and global yields," they said. "Due to this, our base crop price scenario implies a 2-3% reduction of yields in higher-cost regions, with risks of larger disruptions depending on fertilizer availability and weather." The Morgan Stanley analysts said they expect higher prices in 2022 and 2023, but after that they expect inventories should normalize with more supply from Latin America. They also anticipate prices will align closer with production costs and drop 15% to 20% below longer-term soy and corn contracts. Zoom In Icon Arrows pointing outwards

https://www.cnbc.com/2023/10/09/stocks-making-the-biggest-moves-midday-general-dynamics-united-airlines-spotify-and-more.html

CF

CF Industries

Stocks making the biggest moves midday: General Dynamics, United Airlines, Spotify and more

The USS Truxtun (DDG-103) destroyer sits in dry dock at the General Dynamics Corp. NASSCO shipyard facility on the Elizabeth River in Norfolk, Virginia, on Jan. 9, 2018. Check out the companies making headlines in midday trading. Spotify — Shares of the music streaming service company fell 2.5% after Redburn Atlantic downgraded the streaming giant to neutral from buy. The firm said Spotify's new audiobook offer doesn't fit into its original forecast for margin expansion, while simultaneously stoking competition from Amazon. Zscaler — Shares of the cloud security company rallied 4.2% following an upgrade to an overweight rating from Barclays. As a catalyst, analyst Saket Kalia cited a new growth opportunity in the secure access service edge, or SASE, cybersecurity segment. Mirati Therapeutics — Shares of the cancer drug company fell more than 5% after Bristol Myers Squibb announced a deal to acquire Mirati for $48 per share, plus a contingent value right worth up to $12 per share. Mirati's stock closed at $60.20 per share Friday. Tesla — The automaker's stock fell 2.3% in Monday trading upon news that the company's year-over-year sales declined 10.9% in China last month, according to data from the China Passenger Car Association. On Holding — The sneaker maker rose more than 1% after Baird upgraded the stock to outperform from neutral. The firm said On's recent investor day reinforced its confidence in the brand's health and upcoming three-year pipeline of growth. Motorola Solutions — Motorola added 3.3% after Bank of America initiated the stock at a buy rating. The bank cited solid pricing power, strong growth and a sustainable order pipeline. Datadog — Datadog dropped 3.6% after Bank of America downgraded the cloud stock to neutral from buy, citing downside revenue risk from demand checks. Oil stocks — Energy stocks soared following the escalation of the Israel-Hamas conflict over the weekend. Shares of Halliburton , CF Industries and Hess each respectively rose 6.5%, 5.5% and 5%. Defense stocks — Similar to the energy sector, defense stocks also rallied on the back of rising conflict between Palestine and Israel. Northrop Grumman , L3Harris Technologies and General Dynamics respectively soared 10.8%, 9.1% and 8.4%. Airline stocks — On a broader level, airline names were down after several major airlines suspended service to Israel following this weekend's attacks. United Airlines slid 5.3%, while Delta Air Lines and American Airlines shed 4.5% and 5.3%, respectively. — CNBC's Yun Li, Tanaya Macheel, Sarah Min and Jesse Pound contributed reporting.

https://www.cnbc.com/2023/10/09/market-strategist-cautions-that-war-is-inflationary-says-buy-energy-and-defense-stocks.html

CF

CF Industries

Market strategist cautions that war is inflationary, says buy energy and defense stocks

The war in the Middle East could lead to higher inflation for longer as it puts upward pressure on oil prices, according to Strategas' Jason Trennert. On Saturday, militant group Hamas attacked Israel, leading to the deadliest offensive attack Israel has experienced in 50 years . Israel responded with a series of retaliatory air strikes. The total number of casualties since the weekend has now reached over 1,300. Oil prices spiked following the attack, with Brent crude futures rising nearly 4% to $87.94 a barrel. U.S. West Texas Intermediate futures also traded 4% higher at $86.11 a barrel. @CL.1 1D mountain Oil pops "The event supports one of our most high conviction investment themes — deglobalization and its likely impact on inflation," Trennert wrote in a Sunday note. "There is likely to be natural tendency to buy Treasurys and the U.S. dollar, but wars are generally inflationary." "It is difficult not to assume that the war is likely to put a bottom in the price in the oil; this, in turn, may put pressure on the U.S. consumer," the strategist added. Investors have been fretting persistent inflation, which could lead the Federal Reserve to keep interest rates higher for longer. Rising oil prices could put even more pressure on inflation. Given this backdrop, Trennert said he likes energy and defense stocks. Energy and defense stocks rallied Monday. Halliburton , CF Industries and Hess rose 5.8%, 5% and 4.6%, respectively. Northrop Grumman , L3Harris Technologies and General Dynamics were up 9% each. — CNBC's Michael Bloom contributed to this report.

https://www.cnbc.com/2023/01/11/bank-of-america-says-buy-these-stocks-that-generate-lots-of-cash.html

CF

CF Industries

Bank of America says buy these stocks that generate lots of cash

Bank of America said investors should buy shares in companies with high levels of cash as the broader market outlook is buffeted with headwinds. The S & P 500 fell nearly 20% in 2022, its worst annual performance since 2008, as concern over higher rates dented investor sentiment. The outlook for 2023 isn't much more promising, with growing expectations of a U.S. economic recession. Bank of America has one of the most downbeat forecasts for the year, with its S & P 500 target of 4,000 implying upside of just 4.2%. However, the bank said there are some stocks that could hold up despite the gloomy backdrop. BofA looked through Russell 1000 stocks with buy ratings from their analysts. They then screened for companies with the highest free cash flow, or FCF, yields. "The average FCF/EV [enterprise value] of the Russell 1000 constituents is 1.8%, suggesting that these names may be best of breed when considering quality characteristics," BofA said in a note Tuesday. Higher free cash flow yields imply a company is in a stronger position to meet its debt or other obligations. It also indicates how quickly a company can access cash in case of an emergency or opportunity. Here are some of the names that made the cut. Fertilizer and nitrates products maker CF Industries topped the list with a 22% free cash flow yield. The company is coming off a monster year, surging more than 20% after rallying 83% in 2021. Analyst Steve Byrne said he thinks CF can build on those gains, noting: "Tight global nitrogen supplies + Ag cycle could readily continue into 2023." The stock has buy or overweight ratings from 50% of analysts covering it, and the average price target implies upside of more than 35%, FactSet data shows. Expedia also made Bank of America's list, with a free cash flow yield of 21%. Analyst Justin Post said the "increasing percentage of travel bookings migrating online + travel agents suggest strong travel demand." Expedia shares struggled in 2022, losing more than 50% in their worst year since 2008 — when they dropped nearly 74%. Still, the stock has buy or overweight ratings from 50% of analysts covering it, and the average price target implies upside of nearly 30%, according to FactSet. General Motors also turned up on Bank of America's screen, with a free cash flow yield of 16%. BofA analyst John Murphy noted that the company remains an automotive leader thanks to "its Core to Future transition + continues to develop all the necessary components for the future of mobility services, which we believe may help unlock value over time." GM is coming off its worst year since 2011, losing almost 43% in 2022. Steel producer Nucor and car-and-truck dealer AutoNation also made the cut, with free cash flow yields of 21% and 13%, respectively. — CNBC's Michael Bloom contributed reporting.

https://www.cnbc.com/2023/09/21/cnbcs-top-wall-street-analyst-calls-on-thursday.html

CF

CF Industries

Here are Thursday's biggest analyst calls: Meta, Amazon, Costco, Uber, Sunrun, Alphabet, Exxon & more

Here are Thursday's biggest calls on Wall Street: Baird reiterates Meta as outperform Baird said it's bullish heading into Meta's Connect event next week. "And will this year's event next week remind investors about the part of Meta they'd rather forget? We think it will be a little different — for one, we get launch details on Meta Quest 3 (Oct. 10 likely release) — Qualcomm chipsets. Secondly, we should learn more details about Meta's mixed reality strategy — integrating the physical and digital worlds — perhaps with new sunglasses." Bank of America upgrades Nutanix to buy from neutral Bank of America said it sees numerous positive growth drivers ahead for the computer software company. " NTNX recently launched 'GPT-in-a-Box', a full stack, software-defined platform that provides AI-ready infrastructure which customers can use to run generative pre-trained transformers (GPTs)." Read more about this call here. Guggenheim reiterates Sunrun as buy Guggenheim said Sunrun is the best positioned solar company. "RUN is in a good position to take market share in 2024." Evercore ISI reiterates Costco as outperform Evercore said it's bullish heading into Costco earnings next week. " COST's share gain, traffic, potential fee hike, impenetrable balance sheet and net cash position in a rising rate world keeps it in our Top Five portfolio. We find Costco's defensive growth appealing with a potential dual catalyst path of a special dividend and fee increase providing co. specific catalysts for late '23 or '24." Goldman Sachs reiterates Alphabet as buy Goldman said Alphabet remains a favorite as ad trends stabilize. " GOOGL (scaled multi-year investments in AI for both consumers and enterprises beginning to be realized by investors; stable/rising advertising trends compared to investor fears of share loss; continued progress on operating efficiencies as potential margin narrative into 2024 & beyond; stable growth and rising margin narrative for Google Cloud segment)." JPMorgan reiterates Disney as overweight JPMorgan said it's standing by its overweight rating on Disney. "We remain Overweight with a $125 target though we recognize it could take a couple of quarters before we have better clarity into the company's direction and shares begin to work." Jefferies initiates Petrobras as buy Jefferies said the LatAm oil and gas giant is an "upstream volume growth story." "We launch on PBR at Buy. Its new strategic/financial envelope has removed uncertainties, turning PBR into a CF [cash flow] & upstream volume growth story." Read more about this call here. Wedbush reiterates Microsoft as outperform Wedbush said it's standing by its outperform rating on shares of Microsoft. "We believe while management has talked about a 'gradual ramp' for AI monetization in FY24 we believe so far the adoption curve is happening quicker than expected based on our recent checks." UBS reiterates Walmart as buy UBS said Walmart is firing on all cylinders. "The bullish investment case for the world's largest retailer is as good as it's been in a while." Deutsche Bank upgrades Five9 to buy from neutral Deutsche said it sees bookings strength for the software company. "We upgrade Five9 shares to Buy, with 20% potential upside to our $80 PT. Simply put, we believe momentum from recent bookings strength (amidst a favorable backdrop for cloud contact center spend) is likely to re-accelerate revenue growth, with current valuation that is roughly half of year ago levels." Read more about this call here . JPMorgan reiterates Uber as overweight JPMorgan reiterated Uber as a top pick and says it sees rideshare resiliency. "Uber Mobility trends remain resilient 3Q QTD through August w/stable or accelerating DL [download] growth across most markets, and Lyft DL growth inflected positive & is tracking up +5% Y/Y 3Q QTD (vs. -4% in 2Q)." Piper Sandler upgrades European Wax Center to overweight from neutral Piper said the waxing salon and retail chain is well positioned and that management is executing. "We are upgrading EWCZ to Overweight and raising our PT to $22 given improved comfort around overall guest health amidst the current macro environment and a deep dive on the laser hair removal industry and opportunity." Bank of America reiterates Exxon as buy Bank of America kept its buy rating on the oil and gas giant on Thursday and says it sees "differentiated growth." "We believe ExxonMobil is poised for a relative recovery after several years of lagging performance." Bank of America reiterates Marriott as buy Bank of America said it's bullish heading into Marriott's analyst day next week. "We reiterate our Buy rating and raise our PO to $225 (from $215) with our target multiple tweaked slightly higher but still approximately 16x 2024E EBITDA." Citi downgrades Frontier to neutral from buy Citi said in its downgrade of the airline that it sees increased share price volatility. "Although the weak share price performance somewhat shields Frontier from a more bearish view, management's demand comments, along with weak December booking curve data, now seem to leave little recourse but to downgrade Frontier from Buy to Neutral and add a High Risk rating on increased earnings and share price volatility." Seaport upgrades Enphase Energy to buy from neutral Seaport said investors should buy the dip in shares of the solar company. "We think as ENPH benefits from ongoing share repurchases; continued robust growth in Europe's residential solar market as it both thrives in existing countries and enters new ones; and, by mid- to late-2Q24, a clear emergent recovery in U.S. residential solar installations, the stock will experience multiple re-expansion." Read more about this call here. Wolfe reiterates Micron as outperform Wolfe said it's bullish heading into earnings next week. "We expect MU to express a positive tone on earnings next week given signs of stabilizing pricing ahead of seasonal demand improvement in 2H23." Baird upgrades HealthEquity to overweight from neutral Baird said the fintech and health savings company is well positioned in the current rate environment. "We view HQY as an attractive investment in a higher interest rate environment that can function as a portfolio diversifier, particularly in a 'higher for longer' interest rate environment." Wells Fargo reiterates Amazon as overweight Wells said it sees several "discreet headwinds" for Amazon that investors may not know about. The firm said it's standing by its overweight rating, however. "Believe external pressure from fuel and heightened eComm competition likely to weigh on 4Q OI [operating income] as well." Morgan Stanley reiterates Howmet as overweight Morgan Stanley said the aerospace company is an attractive top pick at the firm. "We visited Howmet's Whitehall facility. The company's investment in technology and automation underscores how it was able to take market share, increase price, and expand margins. HWM is our Top Pick in Aerospace." Truist upgrades International Paper to buy from hold Truist said it sees demand improvement for the company. "We upgrade IP to Buy from Hold given our improved outlook for the containerboard market due to upcoming demand improvement and the end of destocking."

https://www.cnbc.com/select/what-are-am-best-ratings/

CF

CF Industries

A.M. Best ratings evaluate insurance companies' financial strength — here's what you need to know about these scores

What is A.M. Best? An insurer has to be financially healthy to be able to pay out claims. As an independent credit rating agency, A.M. Best translates balance sheets and other data into letter grades that can be understood by consumers, investors and others in the insurance industry. A.M. Best reviews and rates over 16,000 insurance companies globally, from household names to niche providers. Grades range from A+ to D, and each grade may also have a notch (or an additional "+") to indicate its strength within that grade. For example, an A+ company with an outstanding ability to meet its obligations would be categorized as A++. A.M. Best's grades are relevant to all kinds of insurance. A life insurance policy, for example, may not pay out for decades. So it's important for a life insurance company to be in good financial standing for the long haul. Northwestern Mutual, New York Life and MassMutual all received A++ ratings from A.M. Best in 2023. Northwestern Mutual Life Insurance Learn More Cost The best way to estimate your costs is to request a quote App available Yes Policy highlights As the largest life insurer by market share in the U.S., Northwestern Mutual is an established choice with a proven record. And, it offers a number of types of policies across the country. MassMutual Life Insurance Learn More Cost The best way to estimate your costs is to request a quote App available Yes Policy highlights MassMutual has been in business for over 170 years, and carries the highest ratings for financial security from AM Best. There are also companies that issue homeowners and auto insurance policies with A++ ratings, including State Farm, Geico, Travelers and USAA. State Farm Auto Insurance Learn More Cost The best way to estimate your costs is to request a quote App available Yes Policy highlights State farm is one of the largest auto insurers based on market share and has an excellent reputation for customer satisfaction. It offers 13 discounts, including ones for safe driving and young drivers. Terms apply. Read our State Farm Auto Insurance review. Geico Auto Insurance Learn More Cost The best way to estimate your costs is to request a quote App available Yes Policy highlights Geico coverage and services are available in all 50 states and the District of Columbia and there are 16 different types of discounts available. In addition to the standard coverage options, Geico offers various optional add-ons, such as emergency roadside assistance, rental car reimbursement and mechanical breakdown insurance. Terms apply. Read our Geico Auto Insurance review. Pros Lowest average rates Inclusive coverage options, including high-risk drivers Available nationwide Cons High premiums for high-risk drivers Fewer branches for in-person services Learn More View More Travelers Auto Insurance Learn More Cost The best way to estimate your costs is to request a quote App available Yes Policy highlights Travelers auto insurance policies are affordable and backed by the sixth largest company for car insurance by market share according to the NAIC. The company also offers a number of discounts to customers, including discounts for bundling, owning a hybrid or electric car, and good student discounts. USAA Auto Insurance Learn More Cost The best way to estimate your costs is to request a quote App available Yes Policy highlights USAA's auto insurance is available in all 50 states, Washington D.C. and some international locations. In addition to low rates and coverage options for unique circumstances, such as for active-duty members, customers have access to an intuitive mobile app. Terms apply. How does A.M. Best rate insurance companies? A.M. Best grades insurers' credit in several categories, including their ability to meet their short- term, long-term and ongoing financial obligations. It's best known for its financial strength ratings (FSRs), however, which look at a company's ability to meet all of its policy and contract obligations. According to A.M. Best, the ratings are predictions based on balance sheet strength, performance, business profile information and other data. As such, they're not a guarantee of future performance or meant as investment advice. To calculate ratings, A.M. Best says its analysts make "quantitative and qualitative evaluations of balance sheet strength, operating performance, business profile and enterprise risk management" and bring their findings to a committee, which votes on a rating recommendation. What is the A.M. Best rating scale? A.M. Best grades insurance companies on financial health by assigning them letter grades ranging from A+ to D. These grades can also include a notch to further distinguish financial strength within a grade. An A+ company with superior financial strength, for example, would be graded as A++. And a B company with less solvency could be graded as B-. These are the grade categories, based on A.M. Best's belief in a company's ability to meet ongoing obligations. Superior : Rating: A+, Notches: A++ : Rating: A+, Notches: A++ Excellent : Rating: A, Notches: A- : Rating: A, Notches: A- Good : Rating: B+, Notches: B++ : Rating: B+, Notches: B++ Fair : Rating: B, Notches: B- : Rating: B, Notches: B- Marginal: Rating: C+, Notches: C++ Rating: C+, Notches: C++ Weak : Rating: C, Notches: C- : Rating: C, Notches: C- Poor: Rating: D An Under Review modifier, or "U," may also be added to a company's grade if there is a potential for a near-term change to its score, usually within the next six months. The Under Review marker can imply positive or negative results. Under review with positive implications: There is a reasonable likelihood the grade will be raised as a result of recent information. There is a reasonable likelihood the grade will be raised as a result of recent information. Under review with negative implications: The company is facing unfavorable financial or market conditions and has a good possibility of a rating downgrade. The company is facing unfavorable financial or market conditions and has a good possibility of a rating downgrade. Under review with developing implications: There is still uncertainty as to the outcome of the review. How to use A.M. Best's ratings FSRs distill a lot of financial information into an accessible format, providing an important metric you can use to evaluate an insurance company. To ensure a score is current and accurate, get it from the A.M Best website directly. Major carriers like State Farm and Allstate have numerous subsidiaries for property, auto and other insurance categories and A.M. Best grades each separately. Make sure you're looking at the right one. Look beyond the score to the factors that led A.M Best to give a company its grade and notch to see if they concern you. Review an insurer's grade over time for an idea of its long-term financial health. Look at scores from other credit rating agencies for comparison, including S&P Global and Moody's. FSRs shouldn't be the sole reason to purchase or switch to a particular carrier, especially since they don't consider rates and terms for a specific policy. They also don't address customer satisfaction — the National Association of Insurance Commissioners' Complaint Index, J.D. Power's customer satisfaction ratings and the Better Business Bureau's grades are more helpful there. Shop for your next homeowners insurance policy 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. Bottom line A.M. Best creates ratings for the insurance industry, including a measure of a company's ability to pay claims and meet financial obligations, called its financial strength rating. It's another factor you can use to decide which insurance company is a good fit for you. Why trust CNBC Select? At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every insurance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of insurance products. 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/2023/09/02/commodities-indicators-may-signal-sustained-uptrend.html

CF

CF Industries

Op-ed: Commodities indicators may signal sustained uptrend

Monty Rakusen | Digitalvision | Getty Images Commodities aren't for everyone, as they can be tricky investments. But for individual investors willing to learn the basics and accept volatility, a judicious allocation can make sense. This can diversify traditional portfolios of stocks and bonds, hedge against geopolitical risk and protect against sustained inflation. Yet buying at the right time is critical. Key indicators suggest that now may be such a time. Many individuals may not know much more about this somewhat opaque investment than they learned from the 1983 movie "Trading Places," where characters played by Eddie Murphy and Dan Aykroyd turned the tables on corrupt brokers seeking to corner the market on concentrated frozen orange juice. Though this satire naturally is far-fetched, it nevertheless demonstrates the mercurial nature of commodity price movements and the importance of investing tactically. In today's real world, although near-term outlooks for commodities markets call for considerable choppiness, two bellwether commodities suggest generally strong performance for the overall category this year and into 2024. Copper is king — and oil's a bellwether, too Chief among indicators is copper. This highly conductive metal is known among commodities traders as King Copper because its performance has historically been an indicator for the entire metals category and for commodities in general. It's also known as Dr. Copper, as though it were a metal with a doctorate in economics, because its performance is often predictive of shifts in domestic and global economic output. Copper is used in myriad consumer and industrial products — a range that's expanding with the electrification of everything from lawnmowers to toilets, the rise of electric vehicles and the growth of solar and wind farms. Increasing demand for copper tends to precede rising sales of a broad range of products and, to some extent, economic growth. Prices hit a 20-year high in late 2021 and then fell sharply. In July, copper spiked up substantially from this year's May low, and though wavering since, now seems poised to trend higher in the coming months, barring a significant downside catalyst such as a recession (widely predicted for more than a year now but showing up with the punctuality of Godot). watch now Current strong copper forecasts reflect positive outlooks for companies that mine and process other metals and minerals used in EV batteries, including aluminum, lithium, cobalt, manganese, nickel and iron — and for industrial materials in general. Another bellwether for the entire commodities category is crude oil. Crude has shown distinct momentum recently, with 90% of S&P energy stocks above their 50-day moving average as of mid-August, with room to run. Crude hit the skids during the pandemic and then rose in early 2022, reaching pre-pandemic highs before declining below late-2019 levels the rest of the year, tamped down by — again — recession fears. Then, in late 2022 through the first half of this year, crude climbed and, after some downward waffling, went on to build momentum and break its 200-day moving average earlier this summer by hitting $79 per barrel. In mid-August, benchmark West Texas Intermediate (WTI ) completed seven straight weeks of gains, reaching $84.89. This kind of pattern has historically tended to presage sustained positive performance, a good sign for the remainder of 2023. Sales from the now-depleted U.S. Strategic Petroleum Reserve appear to have ended, and the Russia-Ukraine war will continue to impede shipments from the Russian port of Novorossiysk (where about 2% of the world's oil is shipped). Thus, the current scenario is one of crimped supply with sustained high demand. While copper and oil are key indicators for the commodity markets overall, following them is of course no substitute for researching specific commodities. Beware of some commodities pitfalls Investors who don't know a pork belly from a slab of bacon should be prepared for a steep learning curve — and potentially painful pitfalls. They should be aware that: Investing in commodities — whether hard (mined or extracted) or soft (grown or raised) — is much different from investing in conventional stocks. In buying shares of stock, per se, investors buy a piece of a company's long-term future, whereas commodities immediately expose them to trading pressures from ever-flexing global supply-and-demand scenarios of metals, crops, energy, livestock, forest products and other areas. Prices can be whipsawed by intense momentary speculation on scant news. Yet, as with any investment, success requires looking beyond short-term fluctuations at factors that may indicate sustained trends. Many commodities funds have substantial exposure to futures — contracts to buy or sell a predetermined amount of a given commodity at a set time for a set price. Some individuals conflate futures with options, which give holders the right but not the obligation to buy or sell the underlying asset. By contrast, futures contracts are an obligation. Exchange-traded notes aren't direct investments. Rather, ETNs are basically debt instruments backed by the issuer. So, investors must not only understand the dynamics of underlying commodity and the issuer's track record, but also the issuers' financial condition, including their ability to pay carrying costs — in the case of corn, rents on silos until sale. When storing corn for months, the owner is essentially speculating that the costs of doing so will be less than the increase in the market price of corn over the holding period. Considering ETFs and stocks instead Bill Ross | The Image Bank | Getty Images

https://www.cnbc.com/2023/08/15/carbon-storage-is-gaining-favor-these-are-the-companies-investors-need-to-know.html

CF

CF Industries

Carbon storage is gaining favor. These are the companies investors need to know

This summer has brought more evidence of a changing climate as floods soaked Vermont, drought provided the fuel to stoke the devastating fires in Maui and scientists declared July the hottest month ever recorded on the planet. The building evidence could prompt more action to mitigate carbon emissions. Action is being taken by the federal government , major oil companies and even Big Tech. Carbon capture, utilization and storage processes have been around for half a decade, but are currently gaining momentum. Known as CCUS, it is considered a key part of the clean energy transition by helping to balance out emissions that are considered all but impossible to avoid, according to the International Energy Agency. For investors, the trend could be a win-win. The value of these companies could rise over time, as investments help power the transition. Though CCUS had a slow uptake at first, the IEA tracks more than 500 projects now in the works. Some focus on modifying already-standing power as well as industrial plants that work on carbon capture. 'Simple in theory' Just last week, the U.S. Department of Energy announced more than $1 billion in federal grants for projects in Texas and Louisiana that are expected to remove more than 2 million metric tons of emitted carbon. The Louisiana plan, called Project Cypress, is run by privately held Battelle with technology from Climeworks and Heirloom Carbon Technologies. Texas' hub is in Kleberg County in the Rio Grande Plain. It has a better known backer: Occidental Petroleum 's 1PointeFive subsidiary, which is working with Carbon Engineering and Worley . To be sure, even an increased volume of projects is not enough to reach a net zero future, the IEA warned. Energy research firm Wood MacKenzie estimated the global capacity for CCUS should rise to 1.7 billion tonnes per year by 2050, up from the current capacity of around 63 million. Truly helping curb climate change would take even more. Wood MacKenzie estimated it would require 7.75 billion tonnes per year to keep global warming to 1.5 degrees above preindustrial levels. That's more than 450% above the capacity expected to be in place by 2050. Wood MacKenzie noted that CCUS projects are currently focused in power and gas, though it could expand with help from the "hub" or "cluster" concept, which essentially means that carbon would be taken from many sources and stored in a shared space. The firm pointed to cement and steel production as industries that could lead the way, given few alternatives to fossil fuel use for these companies. (Part of CCUS popularity stems from it being an alternative to completely removing dependency on oil and gas.) Still, researchers and analysts alike have pointed to carbon pricing as a key obstacle. And a carbon tax or requirement for businesses to use cleaner energy could lead to inflationary pressure depending on how these processes are executed, according to Goldman Sachs chief economist Jan Hatzius. "Companies might see hedging their supply chains against potential future geopolitical problems as prudent or see reducing their carbon footprint as important for the planet," Hatzius said. "But in a competitive market, it is hard for companies to incur large short-run costs to make such changes unless their competitors do so too, because otherwise their competitors might undersell them." But Hatzius said many economists still support the use of carbon taxes, which have been implemented in many countries including Denmark and Switzerland. The European Union also recently approved the world's first carbon border tax, Hatzius noted. Put more succinctly, Deutsche Bank analyst James Hubbard called carbon capture "simple in theory" but "capital intensive and divisive" in reality. However, Wall Street analysts see the clear need for increased carbon capture capacity — and are keeping an eye on the companies jumping on the CCUS business opportunity. 'Uniquely positioned' Earlier in the year, Goldman's Brian Singer screened for stocks with buy ratings from the firm that also have a direct connection to Inflation Reduction Act 's benefits for carbon capture, use and storage. He found two: Baker Hughes and Occidental Petroleum. Energy technology company Baker Hughes has outperformed the broader market this year, gaining nearly 20% year to date. Wall Street sees more upside ahead, with the average analyst holding a buy rating and a price target that implies an upside of around 12.5%, according to Refinitiv. BKR YTD mountain Baker Hughes shares are up nearly 20% year to date. A Goldman team led by Ati Modak named Baker Hughes one of its top oil services buys through year-end, citing its order backlog and new energy commitments. Occidental, which won Department of Energy support for the carbon capture project in Texas last week, hasn't had such a good year. The stock is up just 3.5% year to date, underperforming the broader market after more than doubling its share value during 2022's bear market. Wall Street sees similarly muted gains ahead, expecting an upside just under 5%, according to Refinitiv. The average analyst surveyed by the data provider has a hold rating on the stock. OXY BKR YTD mountain Occidental Petroleum and Baker Hughes, year to date Not everyone is on the sidelines. Stephens analyst Mike Scialla initiated coverage of the stock at overweight in late June, citing the carbon capture opportunity as a top reason driving his investment thesis. "OXY is uniquely positioned within the E & P sector to capitalize on emerging opportunities in low carbon markets," he said, using the shorthand for exploration and production. Scialla noted that Occidental has more than half a century of experience with carbon management and is building the world's largest direct air capture facility with proprietary technology. He also noted the company has one of the industry's largest carbon capture positions. 'More balanced risks' Analysts are also looking at companies outside of traditional oil names as potential winners. Bank of America analyst George Staphos upgraded shares of Weyerhaeuser to buy from neutral in July, putting him with the majority on Wall Street, according to Refinitiv. As America's largest private landowner, the company controls vast acres of timberlands, which it says remove tons of carbon dioxide from the atmosphere. It also has been leasing its land for solar panels, wind turbines and geologic sequestration. Staphos cited the potential of its carbon capture operations as a long-term reason to be optimistic, even as its more traditional end-market, homebuilding, faces near-term pressure. "We are still leery that housing fundamentals will cyclically slow on the impact of higher rates and other macro considerations," he said. "But WY provides more balanced risks than, say, Boise or Louisiana-Pacific , given its timber exports, land values and carbon capture/ESG narrative." That's just one name in a longer list of public companies that Bank of America sees as winners from the IRA's tax credit . The other seven: Bloom Energy , CF Industrial , Honeywell , KBR , Linde , Nutrien and Teledyne . Though this crop of stocks range from chemical names to professional services providers, they share some commonalities when it comes to stock performance. First, they've all underperformed or are about in line with the S & P 500 this year. And second, all are expected to rally at least 10% in the year ahead, based on the average price target of analysts surveyed by Refinitiv. — CNBC's Michael Bloom contributed to this report

https://www.cnbc.com/2023/07/29/on-tap-this-week-jobs-report-plus-10-key-earnings-what-we-want-to-see.html

CF

CF Industries

On tap this week: Jobs report plus 10 key earnings. Here's what we want to see

All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. The tech-heavy Nasdaq Composite led with a 2% gain, while the S & P 500 increased about 1% and the Dow rose 0.6%. Thursday snapped a 13-day winning streak for the 30-stock Dow average, a stretch not seen since 1987. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. More economic data is on the way, which should show how the Federal Reserve is doing in its battle against inflation. That includes the super important monthly jobs report on Friday. 1. Economic releases : It's another big week for data following the Federal Reserve's expected decision this past Wednesday to raise the federal funds rate by another 25 basis points. The ISM Manufacturing report comes out on Tuesday and factory orders on Thursday. Combined, these reports provide insight into the state of manufacturing, which accounts for about 12% of U.S. GDP. This number been contracting for the past eight months as of June's ISM Manufacturing report. That trend isn't expected to have reversed in July, but investors are forecasting the rate of contraction to slow. Anything below 50 on the ISM purchasing managers' index (PMI) is indicative of a contraction while anything above that level points to expansion. The rate of contraction/expansion is measured by the distance from that 50-level benchmark. The further below 50, the faster the contraction and the further above 50, the faster the rate of expansion. Also out Thursday is the ISM Services PMI, which has showed the services industry has expanded for six months straight through June. Investors expect this trend to continue but don't expect the rate to ramp up. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. As has been the case for many months, we want a strong headline number (200k is the estimate as of Friday) to be tempered by a slight slowdown in annual wage inflation (4.2% is the estimate as of Friday). Unemployment is expected to hold steady at about 3.6%. One thing to note: In past reports a lot of emphasis has been on the strength of the headline number and wage inflation on the view that higher-than-expected results would support elevated inflation. However, these two numbers have stayed high and inflation has come down — as we saw on Friday with the release of the June personal consumption expenditures price index. It will be interesting to see if investors are still as concerned about the impact these numbers may have on inflation. If we can get inflation down while keeping folks employed and making more than they did last year, that's an incredibly bullish set up as we work our way into 2024. Consumption represents nearly 70% of U.S. GDP and employment and wages play into consumers' buying power, even if the magnitude of their role in inflation is being somewhat questioned. 2. Quarterly earnings : Economic releases are important, especially the nonfarm payrolls report. But they are all backward looking. As a result, earnings will continue to garner the bulk of investors' attention as they provide better insight into the state of various industries at a granular level and in real time. We are about halfway though earnings season, with 51% of S & P 500 companies in the books, according to FactSet. Of those that have reported, 80% reported an upside earnings surprise while 64% reported better than expected revenue results. Let's hope the positive trend continues. Caterpillar (CAT) and Stanley Black & Decker (SWK) report Tuesday morning before the bell. For Caterpillar, there is going to be a lot of focus on the backlog and current state of dealer inventories. Caterpillar put up very strong results the last time around, but some investors worried those results were as good as it gets for the machinery maker, weighing on shares. It was a view we disagreed with due to billions of dollars earmarked by the government for infrastructure projects that should prolong the cycle. As for Stanley Black & Decker, we want to see progress on the three problem areas we called out in our initiation alert : too much inventory, bloated costs and a problematic supply chain. We're about one year into the company's restructuring, so we expect to hear about how it's going and what more can be done to unlock even more cost savings. Housing market dynamics should also be in focus as new home construction, repair, and remodeling in the U.S. all require tools like those made by Stanley Black & Decker. Later Tuesday after the bell, Advanced Micro Devices (AMD), Starbucks (SBUX) and Pioneer Natural Resources (PXD) report. For AMD, we'd like further confirmation the PC market has bottomed, as well any updates on the timing of its MI300 AI chip production ramp. For Starbucks, it's all about demand in China. Management had good things to say about the region last quarter, but investors remain on edge about the pace of the post-Covid recovery. As for Pioneer Natural Resources, management missed the mark last quarter on realized prices and as a result took a hit on free cash flow performance. We want to see management get it right this time around, especially on free cash flow which is used for buybacks and the variable portion of the company's dividend payout. On Wednesday before the bell, Emerson Electric and Humana (HUM) report results. For Emerson, we really need to see some follow-through on the second quarter's strong performance. The name went into penalty box after reporting a disappointing fiscal first quarter but managed to work it's way out of the hole with a strong fiscal second quarter performance. Let's see if it can stay out. As for Humana, the benefits expense ratio (or medical loss ratio) will be in focus as an uptick in hospital visits and elective procedures have weighed on the name since mid-June. Bausch Health (BHC) is Thursday. Not much to say here, as the results will likely remain overshadowed by the ongoing Xifaxan litigation. As noted last quarter, a resolution in Xifaxan litigation and the spinoff of the remainder of its Bausch + Lomb stake represent the two most important future catalysts for the stock. Any commentary on these fronts would be welcome. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. From Apple, a general update on the business, some commentary on the demand in China and the opportunity in India (which investors see as the next major growth region) and maybe some comments on efforts to diversify the supply chain. Any commentary on feedback since the Vision Pro was unveiled would also be welcome. As for Amazon, we want to hear more about progress being made to rein in costs and grow into excess fulfillment capacity in its retail business. As for cloud unit AWS, we're listening for commentary on customer cloud optimization efforts as well as future capital expenditure expectations as the team works to build out it's artificial intelligence capabilities — a theme that was in focus during the calls hosted by Microsoft (MSFT), Alphabet (GOOGL) and Meta Platforms (META). For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy. Here's the full rundown of all the important domestic data in the week ahead. Monday, July 31 Before the bell: SoFi (SOFI), onsemi (ON), Symbotic (SYM), ImmunoGen (IMGN), Alliance Resource Partners, L.P. (ARLP), AerCap Holdings N.V. (AER), CNA Financial Corp. (CNA), Alexanders (ALX), Apellis Pharmaceuticals (APLS), Community Bank System (CBU), SJW Group (SJW), Hutchison China MediTech Limited (HCM), Camtek Ltd. (CAMT), Silvercrest Asset Management Group (SAMG), Loews Corp (L), Oxford Lane Capital Corp. (OXLC), Banco Santander - Chile (SAN), Silicom Ltd (SILC), SuperCom Ltd. (SPCB) After the bell: Arista Networks (ANET), Avis Budget Group (CAR), Diamondback Energy (FANG), Lattice Semiconductor Corp. (LSCC), Republic Services (RSG), Yum China Holdings (YUMC), Western Digital Corp. (WDC), Monolithic Power Systems (MPWR), Tenet Healthcare Corp. (THC), Vornado Realty Trust (VNO), BioMarin Pharmaceutical (BMRN), PetMed Express (PETS), AvalonBay Communities (AVB), Harmonic (HLIT), SBA Communications Corporation (SBAC), Brixmor Property Group (BRX), J & J Snack Foods Corp. (JJSF), Cushman & Wakefield (CWK), Hologic (HOLX), Leggett & Platt (LEG), Sonoco (SON), Sanmina Corporation (SANM), TFI International (TFII), Trex (TREX), TrueCar (TRUE), Welltower (WELL) Tuesday, August 1 10:00 a.m. ET: ISM Manufacturing PMI 10:00 a.m. ET: JOLTS Job Openings Before the bell: Caterpillar (CAT) , Stanley Black & Decker (SWK) , Norwegian Cruise Line Holdings Ltd. (NCLH), Uber Technologies (UBER), Pfizer (PFE), Enterprise Products Partners L.P. (EPD), Merck & (MRK), JetBlue Airways Corporation (JBLU), Allegro MicroSystems (ALGM), Altria Group (MO), SunPower Corp. (SPWR), SiriusXM Holdings (SIRI), Molson Coors Beverage (TAP), Marriott International (MAR), Toyota Motor Corp. (TM), BP p.l.c (BP), SYSCO Corp. (SYY), Global Payments (GPN), Marathon Petroleum Corp. (MPC), Shutterstock (SSTK), Ares Management LP (ARES), Equitrans Midstream Corporation (ETRN), International Game Technology (IGT), Illinois Tool Works (ITW), Ecolab (ECL), IDEXX Laboratories (IDXX), Rockwell Automation (ROK), Watsco (WSO), Bloomin' Brands (BLMN), Graphic Packaging International Corp. (GPK), Gartner (IT), Zebra Technologies Corp. (ZBRA), IQVIA Holdings (IQV), Oshkosh Corporation (OSK), Leidos Holdings (LDOS), Eaton Corp. (ETN), yte Corp. (Y), Lear Corp. (LEA) After the bell: Advanced Micro Devices (AMD) , Starbucks Corp. (SBUX) , Pioneer Natural Resources (PXD) , Devon Energy Corp. (DVN), Pinterest (PINS), MicroStrategy (MSTR), e.l.f. Beauty (ELF), SolarEdge Technologies (SEDG), Lumen Technologies (LUMN), Virgin Galactic Holdings (SPCE), Caesars Entertainment (CZR), VF Corp. (VFC), Exact Sciences Corp. (EXAS), Paycom Software (PAYC), Vertex Pharmaceuticals (VRTX), Suncor Energy (SU), Camping World Holdings (CWH), Mosaic (MOS), Chesapeake Energy Corp. (CHK), Match Group (MTCH), Boston Properties (BXP), American International Group (AIG), Allstate Corp. (ALL), Aspen Technology (AZPN), Columbia Sportswear (COLM), Electronic Arts (EA), Flowserve Corporation (FLS), Sprouts Farmers Market (SFM), Denny's, Corp. (DENN), Prudential Financial (PRU), Container Store Group (TCS), Ternium S.A. (TX), Vimeo (VMEO), AFLAC (AFL), Cardlytics (CDLX) Wednesday, August 2 8:15 a.m. ET: ADP Employment Survey Before the bell: Emerson Electric (EMR) , Humana (HUM) , Bausch + Lomb Corporation (BLCO), CVS Health (CVS), Generac Holdings (GNRC), Cameco Corp. (CCJ), Perion Network Ltd. (PERI), Kraft Heinz (KHC), Builders FirstSource (BLDR), Carlyle Group L.P. (CG), Scorpio Tankers (STNG), Teva Pharmaceutical Industries, Ltd (TEVA), Phillips 66 (PSX), Dynatrace (DT), Rithm Capital Corp (RITM), Wingstop (WING), Ferrari N.V. (RACE), Spirit AeroSystems Holdings (SPR), Vertiv Holdings Co (VRT), Johnson Controls (JCI), Allegiant Travel (ALGT), BorgWarner (BWA), CDW Corp (CDW), DuPont (DD), Driven Brands Holdings (DRVN), Scotts Miracle-Gro (SMG), Yum! Brands (YUM), Allegheny Technologies orporated (ATI), AmerisourceBergen Corporation (ABC), Ares Commercial Real Estate Corporation (ACRE), Adient plc (ADNT), Editas Medicine (EDIT), Garmin Ltd. (GRMN), WWE (WWE), Bunge Ltd. (BG), Criteo S.A. (CRTO), Seagen (SGEN) After the bell: PayPal (PYPL), Shopify (SHOP), QUALCOMM (QCOM), Occidental Petroleum Corp. (OXY), Unity (U), Robinhood Markets (HOOD), MercadoLibre (MELI), Energy Transfer LP (ET), Etsy (ETSY), Apache Corp. (APA), Albemarle Corp. (ALB), MGM Resorts International (MGM), Marathon Oil Corp. (MRO), Sunrun (RUN), Joby Aviation (JOBY), Confluent (CFLT), DoorDash (DASH), Innovative Industrial Properties (IIPR), HubSpot (HUBS), CF Industries Holdings (CF), Lemonade (LMND), Goodyear Tire & Rubber (GT), Fastly (FSLY), Realty ome Corp. (O), Upwork (UPWK), Metlife (MET), TripAdvisor (TRIP), Pacific Biosciences of California (PACB), EVgo (EVGO), Rush Street Interactive (RSI), Revolve Group LLC (RVLV), Zillow Group (ZG), JFrog Ltd. (FROG), Herbalife Nutrition Ltd. (HLF), Schrödinger (SDGR), Simon Property Group (SPG), Cheesecake Factory (CAKE), Clorox (CLX), McKesson Corp. (MCK), NerdWallet (NRDS), Public Storage (PSA), Qorvo (QRVO), Cerus Corporation (CERS), C.H. Robinson Worldwide (CHRW), Traeger (COOK), GXO Logistics (GXO), RE/MAX Holdings (RMAX), Rayonier (RYN) Thursday, August 3 8:30 a.m. ET: Initial jobless claims 10:00 a.m. ET: Factory Orders Before the bell: Bausch Health Companies (BHC) , Anheuser-Busch InBev (BUD), Warner Bros. Discovery (WBD), Cheniere Energy (LNG), ConocoPhillips (COP), Expedia (EXPE), Moderna (MRNA), Wayfair (W), Hasbro (HAS), CIGNA Corp. (CI), Lantheus Holdings (LNTH), Quanta Services (PWR), Regeneron Pharmaceuticals (REGN), Fiverr International Ltd. (FVRR), Air Products & Chemicals (APD), TopBuild Corp. (BLD), EPAM Systems (EPAM), InterDigital (IDCC), Lightspeed Commerce (LSPD), Aurinia Pharmaceuticals (AUPH), Cummins (CMI), HF Slair Corporation (DINO), Southern (SO), Starwood Property Trust (STWD), Vulcan Materials (VMC), Alnylam Pharmaceuticals (ALNY), Daqo New Energy Corp. (DQ), First Citizens BancShares (FCNCA), Cedar Fair Entertainment (FUN), Kellogg (K), Intellia Therapeutics (NTLA), Oaktree Specialty Lending Corporation (OCSL), Privia Health Group (PRVA), Becton, Dickinson & (BDX), Chimera Investment Corp (CIM), Canadian Natural Resources Ltd (CNQ), Shift4 Payments (FOUR), Hyatt Hotels Corp (H), Lion Electric (LEV), Portillos (PTLO), Shake Shack (SHAK), Deluxe Corp. (DLX), Iron Mountain (IRM), Murphy Oil Corp. (MUR), PBF Energy (PBF), Papa John's International (PZZA), Targa Resources Corp. (TRGP), Wix.com Ltd. (WIX), Apollo Global Management, LLC (APO), Butterfly Network (BFLY), Planet Fitness (PLNT), Sempra Energy (SRE), Aptiv PLC (APTV), Brookfield Infrastructure Partners L.P (BIP), Canada Goose Holdings (GOOS), Pitney Bowes (PBI), Parker-Hannifin Corporation (PH), Trimble (TRMB), WESCO International (WCC), WestRock (WRK), Arrow Electronics (ARW), Cars.com (CARS), Constellation Energy Group (CEG), Magellan Midstream Partners (MMP) After the bell: Amazon.com (AMZN) , Apple (AAPL) , Coinbase Global (COIN), Block (SQ), Airbnb (ABNB), DraftKings (DKNG), Cloudflare (NET), Fortinet (FTNT), Petroleo Brasileiro SA Petrobras (PBR), Amgen (AMGN), ContextLogic (WISH), Gilead Sciences (GILD), Opendoor Technologies (OPEN), Booking Holdings (BKNG), Atlassian Corporation Plc (TEAM), WW International (WW), Redfin Corporation (RDFN), Motorola Solutions (MSI), Yelp (YELP), Dropbox (DBX), Stem (STEM), Corteva (CTVA), Monster Beverage Corporation (MNST), Consolidated Edison (ED), Rocket Companies (RKT), Apple Hospitality REIT (APLE), Cirrus Logic (CRUS), EOG Resources (EOG), FIGS (FIGS), Funko (FNKO), Universal Display Corporation (OLED), Chesapeake Utilities Corp. (CPK), Opko Health (OPK), Sprout Social (SPT), Udemy (UDMY), CarGurus (CARG), DaVita (DVA), GoDaddy (GDDY), Kratos Defense & Security Solutions (KTOS), Progyny (PGNY), Post Holdings (POST), Tandem Diabetes Care (TNDM), Ziff Davis (ZD), Friday, August 4 8:30 a.m. Nonfarm payrolls Before the bell: fuboTV (FUBO), Nikola Corporation (NKLA), Fisker (FSR), Enbridge (ENB), Magna International (MGA), Dominion Energy (D), ACM Research (ACMR), Cinemark (CNK), Frontier Communications Parent (FYBR), Brookfield Renewable Partners (BEP), inTEST Corporation (INTT), Plains All American Pipeline, L.P. (PAA), TELUS International (TIXT), XPO Logistics (XPO), Fluor Corp. (FLR), Gray Television (GTN), Cboe Global Markets (CBOE), LyondellBasell Industries (LYB), Twist Bioscience Corporation (TWST), Global Partners LP (GLP) (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. CEO of Apple Tim Cook arrives at the Sun Valley Lodge for the Allen & Company Sun Valley Conference in Sun Valley, Idaho, July 11, 2023. Kevin Dietsch | Getty Images

https://www.cnbc.com/2022/04/20/emj-capitals-eric-jackson-likes-these-agriculture-and-nuclear-stocks.html

CF

CF Industries

EMJ Capital's Eric Jackson likes these agriculture and nuclear stocks, shares his favorite beaten-down tech names

Agriculture technology and nuclear stocks are set to benefit as the global economy reels from Russia's invasion of Ukraine, according to Eric Jackson, EMJ Capital founder and portfolio manager. The war in Ukraine has disrupted the international supply of commodities like oil and wheat. Companies that address these supply shortages could be poised to see a multiyear boom, Jackson said. "There's a consensus view that this fall, we're going to start to see parts of the world dip into famine levels," Jackson said. "It's going to shine a light on questions around food security." "How do we ensure that we can always grow enough to supply our population with its food needs? If there are companies out there that are offering solutions, ... that kind of story is going to be a popular stock to invest in in the coming years," he added. While many agritech businesses are private, Jackson said he likes and owns Appharvest . Appharvest develops and operates high-tech indoor farms. The stock is up 17.9% this year. The investor also likes fertilizer companies as a way to play the agriculture trend. "You just can't grow crops successfully without fertilizer," Jackson said. He named North American fertilizer companies Mosaic , CF Industries and Nutrien as top picks. Mosaic has seen its share price nearly double this year and CF and Nutrien are up more than 46% this year. "They are still, in my eyes, undervalued when you compare them to the kind of a big supercycle commodity boom that happened in 2007, 2008," Jackson said. On the energy side, Jackson is bullish on nuclear as an alternative to oil. "We're still years away from solar and wind being a viable solution. That means we're going to have to lean on fossil fuels and it means we should take ... a real fresh look at nuclear," Jackson said. "From an investment perspective, there are just a real small number of uranium producers out there," he added. The investor highlighted Cameco as his favorite nuclear name. The Canada-based company is the world's largest publicly traded uranium corporation. Cameco shares are up more than 40% this year. The war in Ukraine, along with the Federal Reserve's rate-hiking cycle, have weighed on equity markets this year, particularly in growth-oriented segments. Given the pullback, Jackson also sees opportunity in several beaten-down technology names. "There are a bunch of companies that have been really rerated down ... in my eyes, unfairly so," Jackson said. The investor said he likes Opendoor , Upstart , Carvana and Bill.com . Agriculture technology and nuclear stocks are set to benefit as the global economy reels from Russia's invasion of Ukraine, according to Eric Jackson, EMJ Capital founder and portfolio manager.

https://www.cnbc.com/id/35217794

CHRW

CH Robinson

Feb. 3: Unusual Volume Leaders

What follows is a look at stocks in the S&P 500 displaying unusual volume in today's trading session. Some of the highlights include: PNC Financial Services (PNC), CH Robinson Worldwide (CHRW), Western Union (WU) and Polo Ralph Lauren (RL). >> Super Bowl Matchup: Another Win-Win for the Markets

https://www.cnbc.com/id/35219011

CHRW

CH Robinson

Halftime Report: Is The Correction Back On?

Instant Insights with the Fast Money traders I’m watching the action in copper , says Joe Terranova. The metal pushed below the psychologically important $3 level. Heavy selling pressure has entered the commodity space and as a result the market has lost an underpinning of support from commodities. I’d be a seller of coal names on the ISM number, says Brian Kelly of Kanundrum. ISM results tell me that inventories are too high. That, in turn, is a sign the economy is slowing and in that case people use less electricity. I'd watch Goldman Sachs, says Scott Redler of T3. Lately it's been a great barometer for the market, As it attempts to reclaim it’s 200-day level of $160 I’d look for the stock to turn lower. And I think a turn lower in Goldman is a signal the broad market is about to turn. At 1125 in the S&P, I’d lay my shorts. I’m seeing a lot of downside put selling in the bank sector, says Jared Levy of Peak6. But I think that’s bullish. I don’t think we see major sweeping changes in legislation and the put buying is protection. I’m watching the Dow Transports , says Mike Gurka. We are below the 100-day moving average of 3986. I think there’s an idea creeping into the market psyche that suggests things could get uneasy. ---- MARKET BUZZKILL: PFIZER As we mentioned above, Pfizer led health care lower largely due to a forecast that fell below Street expectations. What’s the health care trade? Over the next month I think we see choppiness in health care, counsels Brian Kelly, I think there will be buying opportunities down the road but I'd wait for the market to learn and digests what health care reform is all about. I disagree, says Joe Terranova. I’m a buyer of Pfizer right now on the dip. ---- TOYOTA TROUBLES DEEPEN Shares of Toyota tumbled on Wednesday after Transportation Secretary Ray LaHood said drivers of recalled Toyotas should stop driving them – and immediately bring them to a dealer for service. Over 2 million Toyotas have been recalled due to a potentially defective accelerator pedal. What’s the trade? Don’t buy the dip. I’d wait and see how it all plays out before I establish a position in Toyota, says Mike Gurka. These developments should be bullish for Ford but I’d play it downstream with Johnson Controls , counsels Joe Terranova. ---- TAKE YOUR POSITION: CISCO Investors are keeping a close eye on Cisco, which reports earnings after the bell, Wednesday. Because Cisco is widely considered a bellwether results could either ignite a rally or trigger a broad market sell-off. How should you trade? I think a good earnings report triggers a good response in the stock, says Joe Terranova. ---- CALL THE CLOSE Brian Kelly: I’m a buyer. Scott Redler: I’m a selective buyer. Mike Gurka: I’m a buyer. ______________________________________________________ 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 those e-mails to fastmoney@cnbc.com. Trader disclosure: On February 3rd, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Kaminsky Owns (LULU) June Puts; Pete Najarian Owns (AAPL) Call Spread; Pete Najarian Owns (AKAM) Call Spread; Pete Najarian Owns (INTC) Calls; Pete Najarian Owns (MGM) Call Spread; Pete Najarian Owns (MS), Is Short (MS) Calls; Pete Najarian Owns (QCOM) Call Spread; Pete Najarian Owns (X) Call Spread; Pete Najarian Owns (XLF) Calls; Pete Najarian Owns (YUM) Call Spread; Terranova Owns (BAC), (JPM), (OIH), (FCX), (GOOG), (EMC), (AAPL), (DELL), (MSFT), (QCOM) For Joe Terranova: Terranova Works For (VRTS) Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd. Virtus Investment Partners Owns More Than 1% Of (CLB) Virtus Investment Partners Owns More Than 1% Of (DLR) Virtus Investment Partners Owns More Than 1% Of (EXR) Virtus Investment Partners Owns More Than 1% Of (IGE) Virtus Investment Partners Owns More Than 1% Of (XLY) Virtus Investment Partners Owns More Than 1% Of (DBV) Virtus Investment Partners Owns More Than 1% Of (XLP) Virtus Investment Partners Owns More Than 1% Of (XLB) Virtus Investment Partners Owns More Than 1% Of (XLI) Virtus Investment Partners Owns More Than 1% Of (SKT) For Dennis Gartman: Funds Managed By Gartman Own (SU), Are Short Crude Oil Funds Managed By Gartman Are Long Australian Dollars, Canadian Dollars; Are Short Euro, Yen, British Pound Sterling Funds Managed By Gartman Own Gold Futures, (GLD); Are Short British Pound Sterling Funds Managed By Gartman Own (DRI), (PNRA), (BWLD) Funds Managed By Gartman Are Short (MT), (NUE) Funds Managed By Gartman Are Short (MOS) For Paul Latta: Latta Owns (SBUX) Other Relevant Disclosures: Jon Najarian Owned (KCI) Today CNBC.com with wires

https://www.cnbc.com/id/100438828

CHRW

CH Robinson

Stocks Erase Losses to Close Flat; Techs Lag

With no major economic reports on the calendar and a recent rally that propelled the Dow near the widely-watched 14,000 level and the S&P 500 above 1,500, traders and investors searched for the next catalyst that could further fuel the market. "Corporate earnings in that case are likely to be the main focus for investors searching for catalysts," Ishaq Siddiqi, a market strategist at ETX Capital said in a morning note. Among earnings, Disney gained after the media conglomerate posted quarterly results that exceeded Wall Street's expectations amid strong revenue growth in its media networks business and its theme parks. At least two brokerages raised their price target on the company. Time Warner also climbed after the media company topped earnings expectations as cable network growth offset declines in film, TV, and publishing. The company also boosted its quarterly dividend by 11 percent. Ralph Lauren jumped after the apparel retailer posted holiday quarter sales and earnings that showed improvement, thanks to strength in the Americas and Europe. C.H. Robinson tumbled sharply to lead the S&P 500 laggards after the multimodal transportation services company posted lower-than-expected earnings. In addition, Jefferies lowered its price target on the stock. CVS posted a quarterly profit that beat estimates and lifted its earnings forecast for the year on improved revenue growth from pharmacy services and retail drugstores. Still, shares closed in the red. News Corp, Visa and Yelp are among notable companies slated to report quarterly results after the closing bell. So far, 301 S&P 500 firms have reported this quarter, with 69 percent of companies exceeding earnings expectations and 66 percent topping revenue estimates, according to Thomson Reuters. If all remaining firms post earnings in line with forecasts, earnings will be up 4.7 percent from last year's fourth-quarter. European stocks closed at two-month lows as investors took a breather following the previous session's recovery rally, with euro zone banks lower amid renewed concerns over the health of the region's economy and worries over the political uncertainty in Spain and Italy. Read More: Expect Long-Term Damage in Spain: JPMorgan ) Meanwhile, Asian markets rallied, with Japanese stocks climbing to their highest in nearly five years on hopes of central bank monetary policy easing and optimism about the prospects for a global economic recovery. Weekly mortgage applications gained last week even as interest rates climbed, according to the Mortgage Bankers Association.

https://www.cnbc.com/2017/02/02/trader-talk-whats-derailing-transportation-stocks.html

CHRW

CH Robinson

Trader Talk: What's derailing transportation stocks

All 20 stocks in the are down on the week. The overall trend in the market remains up, but there is one slightly troubling development: Transports are deteriorating. They notched a huge 15 percent run-up from the election to the middle of December. Yet since hitting an historic high on January 26th, the Dow Transportation Average has dropped every single day, a drop of about 4 percent. Yesterday, it dropped below its 50-day moving average for the first time since October 2016, so there's been technical damage as well. What gives? Part of the problem is poor earnings: 1) UPS is down 11 percent on the week after poor guidance, taking rival Fedex down 6 percent as well. Part of the problem is Amazon , which is turning the whole shipping business into a commodity; 2) Truckers have been reporting disappointing numbers. Ryder is down 8 percent for the week, as it missed on earnings and offered very weak guidance. Still, even decent earnings are not preventing selloffs. Freight transporter and logistics provider CH Robinson beat estimates Tuesday after the bell, but as with Ryder pricing has been weak for trucking services, and the stock has been trading down since then. 3) Airlines have been down all week, as Delta suffered through another technology outage Sunday night. Some of this may be due to the threat of onerous immigration policies coming from the Trump administration. It may be more than that. None of the major airlines or railroads reported earnings this week, yet Kansas City Southern, Union Pacific and CSX are all down 1 percent to 3 percent. So there you have it: Poor earnings, and a mix of trade and policy concerns around the Trump administration. Is this an early warning sign?

https://www.cnbc.com/id/100284543

CHRW

CH Robinson

Early Movers: MHP, ENB, COO & More

Cooper Cos. - Cooper earned $1.47 per share, excluding certain items, for its latest quarter, below estimates of $1.55 a share. Revenue for the maker of contact lenses and medical instruments also was slightly below consensus, although its profits were up 27 percent from a year earlier. Cablevision - The cable operator is increasing the price of its high speed Internet service by $5 per month in 2013 in what it says is its first increase in a decade. Washington Post Co. - The media giant is planning to institute a paywall in 2013, according to The Wall Street Journal, after resisting such a move for the past few years. The Journal says it's likely to be a metered paywall, providing casual readers with a limited number of free stories each month. Palo Alto Networks - Palo Alto reported quarterly earnings of $0.04 per share, excluding certain items, one cent above estimates, with revenue also above forecasts. However, gross margins shrunk and operating expenses soared by 83 percent for the maker of computer network security products. C.H. Robinson Worldwide - The company has increased its quarterly dividend by two cents to $0.35 per share. The company is a provider of transportation services around the world. Netflix - The video rental service has received a Wells Notice from the U.S. Securities and Exchange Commission, with the agency investigating whether a Facebook posting by CEO Reed Hastings violated the agency's Regulation FD. The posting mentioned Netflix monthly viewing had exceeded a billion hours for the first time. Martha Stewart Living Omnimedia - The company is shutting down its Whole Living magazine after attempts to sell it failed. The contents of the magazine, which focuses on healthy eating, will be folded into the flagship Martha Stewart Living publication. Linear Technology - Linear has raised its quarterly dividend by one cent to $0.26 per share, marking the 21st-consecutive year that the maker of integrated circuits has raised its dividend. The company also is accelerating the latest payout into December, ahead of anticipated higher tax rates. Electronic Arts, Activision Blizzard - NPD reports videogame sales fell 11 percent in November, although Activision's "Call of Duty: Black Ops II" was the top-selling game last month. McDonald's - The restaurant chain's shares have been upgraded to "buy" from "neutral" at Janney Capital. Fiserv - Jefferies has initiated coverage on the provider of financial services technology solutions with a "buy" rating, noting an increased market share of Internet banking and bill paying, as well as being able to exploit the consumer shift to mobile banking. (Read More: See CNBC's Market Insider Blog) —By CNBC's Peter Schacknow Questions? Comments? Email us at marketinsider@cnbc.com

https://www.cnbc.com/2009/05/26/The-S&P-500s-Leanest-Companies.html

CHRW

CH Robinson

The S&P 500's Leanest Companies

The Most Revenue Per Employee Unemployment hit 8.9 percent in April and some predict that number could climb to over 10 percent in 2009 as major companies streamline operations to combat the recession. But how far can this streamlining really go? For many companies, revenues hinge on worker productivity, and for most operations, per-worker profits and revenues are many multiples of average employee salaries. The measure of revenue per employee also helps shed light on a firm's money-making efficiency and likelihood it will Unemployment hit 8.9 percent in April and some predict that number could climb to over 10 percent in 2009 as major companies streamline operations to combat the recession. But how far can this streamlining really go? For many companies, revenues hinge on worker productivity, and for most operations, per-worker profits and revenues are many multiples of average employee salaries. The measure of revenue per employee also helps shed light on a firm's money-making efficiency and likelihood it will retain jobs. The best companies require the least number of workers to make the most money. Using data from ThomsonReuters, we look at how much revenue S&P 500 companies generated per employee over the past 12 months (Q2 2008 - Q1 2009), compared within each of the S&P 500’s 24 industry groups. Of note, data on the entire banking industry group and some finance-related institutions are not tracked. Note: because many banks report revenue as interest income and not sales on their financials, we have excluded them from this analysis for a more apples-to-apples comparison. So, which companies make the most revenue per employee? Click ahead to find out! By Ariel Nelson & Paul Toscano Posted 26 May 2009 Automobiles & Components Industry Leader: Harley Davidson (HOG)Annual revenue per employee: $641,612Annual profit per employee: $62,848Employees: 9,300Industry Laggard: Johnson Controls (JCI)Annual revenue per employee: $234,450Annual profit per employee: -$2,600Employees: 140,000 Photo: AP Industry Leader: Harley Davidson (HOG) Annual revenue per employee: $641,612 Annual profit per employee: $62,848 Employees: 9,300 Industry Laggard: Johnson Controls (JCI) Annual revenue per employee: $234,450 Annual profit per employee: -$2,600 Employees: 140,000 Complete Sector Information Consumer Durables & Apparel Annual revenue per employee: $1,591,921Annual profit per employee: -$478,769Employees: 1,600Annual revenue per employee: $161,411Annual profit per employee: $11,892Employees: 46,600 Industry Leader: KB Home (KBH) Annual revenue per employee: $1,591,921 Annual profit per employee: -$478,769 Employees: 1,600 Industry Laggard: VF Corp. (VFC) Annual revenue per employee: $161,411 Annual profit per employee: $11,892 Employees: 46,600 Complete Sector Information Consumer Services Industry Leader: H & R Block (HRB)Annual revenue per employee: $436,295Annual profit per employee: $51,172Employees: 9,700Industry Laggard: Starwood Hotels (HOT) Annual revenue per employee: $38,338Annual profit per employee: $1,248Employees: 145,000 Photo: Daquella Manera Industry Leader: H & R Block (HRB) Annual revenue per employee: $436,295 Annual profit per employee: $51,172 Employees: 9,700 Industry Laggard: Starwood Hotels (HOT) Annual revenue per employee: $38,338 Annual profit per employee: $1,248 Employees: 145,000 Complete Sector Information Media Industry Leader: Viacom Inc. (VIA)Annual revenue per employee: $1,253,304Annual profit per employee: $100,522Employees: 11,500Industry Laggard: Interpublic Group (IPG)Annual revenue per employee: $151,173Annual profit per employee: $6,784Employees: 45,000 Photo: Juan de Dios Santander Vela Industry Leader: Viacom Inc. (VIA) Annual revenue per employee: $1,253,304 Annual profit per employee: $100,522 Employees: 11,500 Industry Laggard: Interpublic Group (IPG) Annual revenue per employee: $151,173 Annual profit per employee: $6,784 Employees: 45,000 Complete Sector Information Retailing Industry Leader: Amazon.com (AMZN)Annual revenue per employee: $962,319Annual profit per employee: $33,237Employees: 20,600Industry Laggard: Gap Inc. (GPS)Annual revenue per employee: $108,403Annual profit per employee: $7,216Employees: N/A Photo: AP Industry Leader: Amazon.com (AMZN) Annual revenue per employee: $962,319 Annual profit per employee: $33,237 Employees: 20,600 Industry Laggard: Gap Inc. (GPS) Annual revenue per employee: $108,403 Annual profit per employee: $7,216 Employees: N/A Complete Sector Information Food & Staples Retailing Industry Leader: Costco Wholesale (COST)Annual revenue per employee: $972,688Annual profit per employee: $15,932Employees: 75,000Industry Laggard: Whole Foods Market (WFMI)Annual revenue per employee: $169,962Annual profit per employee: $2,201Employees: 46,800 Photo: AP Industry Leader: Costco Wholesale (COST) Annual revenue per employee: $972,688 Annual profit per employee: $15,932 Employees: 75,000 Industry Laggard: Whole Foods (WFMI) Annual revenue per employee: $169,962 Annual profit per employee: $2,201 Employees: 46,800 Complete Sector Information Food, Beverage & Tobacco Industry Leader: Archer Daniels Midland (ADM)Annual revenue per employee: $2,697,790Annual profit per employee: $73,007Employees: 27,600Industry Laggard: Pepsi Bottling Group (PBG)Annual revenue per employee: $204,371Annual profit per employee: $2,874Employees: 66,800 Photo: AP Industry Leader: Archer Daniels Midland (ADM) Annual revenue per employee: $2,697,790 Annual profit per employee: $73,007 Employees: 27,600 Industry Laggard: Pepsi Bottling (PBG) Annual revenue per employee: $204,371 Annual profit per employee: $2,874 Employees: 66,800 Complete Sector Information Household & Personal Products Industry Leader: Clorox (CLX)Annual revenue per employee: $656,024Annual profit per employee: $63,253Employees: 8,300Industry Laggard: Estee Lauder (EL) Annual revenue per employee: $239,159Annual profit per employee: $11,378Employees: 32,000 Photo: EMPTV Industry Leader: Clorox (CLX) Annual revenue per employee: $656,024 Annual profit per employee: $63,253 Employees: 8,300 Industry Laggard: Estee Lauder (EL) Annual revenue per employee: $239,159 Annual profit per employee: $11,378 Employees: 32,000 Complete Sector Information Energy Annual revenue per employee: $7,609,147Annual profit per employee: $436,833Employees: 3,206Annual revenue per employee: $190,448Annual profit per employee: $15,724Employees: 26,912 Photo: AP Industry Leader: Murphy Oil Corp. (MUR) Annual revenue per employee: $7,609,147 Annual profit per employee: $436,833 Employees: 3,206 Industry Laggard: Nabors Industries (NBR) Annual revenue per employee: $190,448 Annual profit per employee: $15,724 Employees: 26,912 Complete Sector Information Diversified Financials Industry Leader: NASDAQ OMX (NDAQ)Annual revenue per employee: $1,486,727Annual profit per employee: $115,983Employees: 2,507Industry Laggard: Leucadia National Corp. (LUK)Annual revenue per employee: $281,047Annual profit per employee: -$579,882Employees: 3,584 Photo: AP Industry Leader: NASDAQ OMX (NDAQ) Annual revenue per employee: $1,486,727 Annual profit per employee: $115,983 Employees: 2,507 Industry Laggard: Leucadia National (LUK) Annual revenue per employee: $281,047 Annual profit per employee: -$579,882 Employees: 3,584 Complete Sector Information Insurance Industry Leader: MBIA Inc. (MBI)Annual revenue per employee: $9,560,455Annual profit per employee: $1,034,971Employees: 420Industry Laggard: Amer. Int’l Grp. (AIG)Annual revenue per employee: $151,129Annual profit per employee: -$843,043Employees: 116,000 Industry Leader: MBIA Inc. (MBI) Annual revenue per employee: $9,560,455 Annual profit per employee: $1,034,971 Employees: 420 Industry Laggard: Amer. Int’l Grp. (AIG) Annual revenue per employee: $151,129 Annual profit per employee: -$843,043 Employees: 116,000 Complete Sector Information Real Estate Industry Leader: Host Hotels & Resorts (HST)Annual revenue per employee: $23,236,360Annual profit per employee: $1,204,546Employees: 215Industry Laggard: CB Richard Ellis (CBG)Annual revenue per employee: $159,611Annual profit per employee: -$35,981Employees: 30,000 Photo: AP Industry Leader: Host Hotels & Resorts (HST) Annual revenue per employee: $23,236,360 Annual profit per employee: $1,204,546 Employees: 215 Industry Laggard: CB Richard Ellis (CBG) Annual revenue per employee: $159,611 Annual profit per employee: -$35,981 Employees: 30,000 Complete Sector Information Health Care Equip. & Services Industry Leader: AmerisourceBergen (ABC) Annual revenue per employee: $7,196,345Annual profit per employee: $49,938Employees: 9,700Industry Laggard: Lab Corp of America (LH)Annual revenue per employee: $162,775Annual profit per employee: $17,132Employees: 28,000 Photo: AP Industry Leader: AmerisourceBergen (ABC) Annual revenue per employee: $7,196,345 Annual profit per employee: $49,938 Employees: 9,700 Industry Laggard: Lab Corp of America (LH) Annual revenue per employee: $162,775 Annual profit per employee: $17,132 Employees: 28,000 Complete Sector Information Pharmaceuticals & Biotech Industry Leader: Gilead Sciences (GILD)Annual revenue per employee: $1,630,249Annual profit per employee: $610,931Employees: 3,441Industry Laggard: Life Technologies Corp. (LIFE)Annual revenue per employee: 210,912Annual profit per employee: -$1,320Employees: 9,700 Industry Leader: Gilead Sciences (GILD) Annual revenue per employee: $1,630,249 Annual profit per employee: $610,931 Employees: 3,441 Industry Laggard: PerkinElmer Inc. (PKI)* Annual revenue per employee: $241,813 Annual profit per employee: $15,249 Employees: 8,500 *Originally listed was Life Technologies (LIFE), but it was brought to the attention of CNBC that due to a recent merger of companies, ThomsonReuters data did not reflect the combined revenues for Life Technologies over the past 12 months. This ranking has been changed to reflect this correction. Complete Sector Information Capital Goods Industry Leader: Fluor Corp. (FLR)Annual revenue per employee: $833,934Annual profit per employee: $28,746Employees: 27,958Industry Laggard: Fastenal Corp. (FAST)Annual revenue per employee: $166,072Annual profit per employee: $19,098Employees: 12,736 Photo: AP Industry Leader: Fluor Corp. (FLR) Annual revenue per employee: $833,934 Annual profit per employee: $28,746 Employees: 27,958 Industry Laggard: Fastenal Corp. (FAST) Annual revenue per employee: $166,072 Annual profit per employee: $19,098 Employees: 12,736 Complete Sector Information Commercial & Professional Services Industry Leader: Dun & Bradstreet Corp. (DNB)Annual revenue per employee: $350,816Annual profit per employee: $72,490Employees: 4,900Industry Laggard: Cintas Corp (CTAS)Annual revenue per employee: $114,852Annual profit per employee: $9,175Employees: 34,000 Photo: Diaper Industry Leader: Dun & Bradstreet (DNB) Annual revenue per employee: $350,816 Annual profit per employee: $72,490 Employees: 4,900 Industry Laggard: Cintas Corp (CTAS) Annual revenue per employee: $114,852 Annual profit per employee: $9,175 Employees: 34,000 Complete Sector Information Transportation Industry Leader: CH Robinson (CHRW) Annual revenue per employee: $1,040,377Annual profit per employee: $45,005Employees: 7,481Industry Laggard: United Parcel Service (UPS)Annual revenue per employee: 116,782Annual profit per employee: 5,864Employees: 426,000 Photo: AP Industry Leader: CH Robinson (CHRW) Annual revenue per employee: $1,040,377 Annual profit per employee: $45,005 Employees: 7,481 Industry Laggard: UPS (UPS) Annual revenue per employee: 116,782 Annual profit per employee: 5,864 Employees: 426,000 Complete Sector Information Semiconductors & Semi Equip. Industry Leader: Broadcom (BRCM)Annual revenue per employee: $605,318Annual profit per employee: $6,559Employees: 7,185Industry Laggard: National Semiconductor (NSM)Annual revenue per employee: $224,877Annual profit per employee: $30,164Employees: 6,500 Photo: Huang jia hui Industry Leader: Broadcom (BRCM) Annual revenue per employee: $605,318 Annual profit per employee: $6,559 Employees: 7,185 Industry Laggard: National Semi (NSM) Annual revenue per employee: $224,877 Annual profit per employee: $30,164 Employees: 6,500 Complete Sector Information Technology Hardware & Equip. Industry Leader: Apple Inc. (AAPL) Annual revenue per employee: $1,052,781Annual profit per employee: $156,813Employees: 32,000Industry Laggard: Molex Inc. (MOLX)Annual revenue per employee: $89,650Annual profit per employee: -$1,552Employees: 32,160 Industry Leader: Apple Inc. (AAPL) Annual revenue per employee: $1,052,781 Annual profit per employee: $156,813 Employees: 32,000 Industry Laggard: Molex Inc. (MOLX) Annual revenue per employee: $89,650 Annual profit per employee: -$1,552 Employees: 32,160 Complete Sector Information Software & Services Industry Leader: Google Inc. (GOOG)Annual revenue per employee: $1,093,892Annual profit per employee: $214,768Employees: 20,164Industry Laggard: Convergys Corp. (CVG)Annual revenue per employee: $36,855Annual profit per employee: -$1,344Employees: 75,000 Photo: AP Industry Leader: Google Inc. (GOOG) Annual revenue per employee: $1,093,892 Annual profit per employee: $214,768 Employees: 20,164 Industry Laggard: Convergys Corp. (CVG) Annual revenue per employee: $36,855 Annual profit per employee: -$1,344 Employees: 75,000 Complete Sector Information Materials Industry Leader: CF Industries (CF)Annual revenue per employee: $2,622,933Annual profit per employee: $391,133Employees: 1,500Industry Laggard: Ecolab Inc. (ECL)Annual revenue per employee: $227,464Annual profit per employee: $15,204Employees: 26,500 Industry Leader: CF Industries (CF) Annual revenue per employee: $2,622,933 Annual profit per employee: $391,133 Employees: 1,500 Industry Laggard: Ecolab Inc. (ECL) Annual revenue per employee: $227,464 Annual profit per employee: $15,204 Employees: 26,500 Complete Sector Information Telecommunication Services Industry Leader: American Tower Corp. (AMT)Annual revenue per employee: $1,349,998Annual profit per employee: $208,207Employees: 1,198Industry Laggard: Embarq Corp. (EQ)Annual revenue per employee: $368,388Annual profit per employee: $47,313Employees: 15,000 Photo: TheBusyBrain Industry Leader: American Tower (AMT) Annual revenue per employee: $1,349,998 Annual profit per employee: $208,207 Employees: 1,198 Industry Laggard: Embarq Corp. (EQ) Annual revenue per employee: $368,388 Annual profit per employee: $47,313 Employees: 15,000 Complete Sector Information Energy

https://www.cnbc.com/id/100038089

CHRW

CH Robinson

US STOCKS-Wall Street edges up on China, Boeing after Tuesday drop

* China data points to strengthening recovery * Boeing climbs after earnings, outlook * Facebook surges after results * Dow Chemical to cut jobs * Indexes up: Dow 0.2 pct, S&P 0.12 pct, Nasdaq 0.25 pct NEW YORK, Oct 24 (Reuters) - U.S. stock edged higher on Wednesday after data from China and Boeing provided temporary relief to a slumping market, following a retreat Tuesday when the Dow Jones industrial average suffered its biggest drop in four months. The S&P 500 has dropped more than 3 percent over the last four sessions, as weak earnings outlooks and top-line revenue misses by large multinational companies reignited worries about a slowing global economy. The China HSBC Flash Manufacturing Purchasing Managers Index (PMI) showed growth shrank for a 12th straight month in October, but output was at a three-month high of 49.1 and order books at their most robust since April, signaling a strengthening recovery. Boeing Co shares climbed 1.7 percent to $74.08, one of the top gainers on the Dow, after the commercial jet and defense giant reported earnings and raised its full-year 2012 outlook. That optimistic outlook bucked a recent trend by companies with a large global footprint - including DuPont, United Technologies Corp and 3M Co - of lowering their full-year forecasts. ``At the end of the day - we've been through this for three years - the short term bumps that Bernanke is providing is just a sugar high, and fundamentals matter,'' said Seth Setrakian, partner and co-head of U.S. equities at First New York Securities in New York. ``He's probably prevented it from being worse but stocks are based on valuation, based on their earnings and projected future business and the economy is slowing and prices are reflecting that.'' A total of 43 S&P 500 companies are due to report earnings Wednesday, including Citrix Systems Inc, F5 Networks Inc and Symantec Corp after the close. The Dow Jones industrial average was up 26.11 points, or 0.20 percent, at 13,128.64. The Standard & Poor's 500 Index added 1.63 points, or 0.12 percent, at 1,414.74. The Nasdaq Composite Index gained 7.59 points, or 0.25 percent, at 2,998.06. AT&T Inc posted third-quarter revenue that was below analysts' expectations, but its earnings increased from a year earlier. Shares lost 1.1 percent to $34.62. Dow Chemical Co, the largest chemical maker in the United States, said Tuesday it would cut 5 percent of its workforce and shut 20 plants to counter a slowing global economy. Its shares advanced 5 percent to $29.99. Facebook Inc surged 22.2 percent to $23.82 after the social networking company grew mobile advertising revenue several times in the third quarter, a much quicker pace than expected. Healthcare stocks rose, lifted by a 14.7 percent jump in Molina Healthcare Inc after the company posted third-quarter earnings and revenue that exceeded analysts' expectations. The Morgan Stanley healthcare payor index gained 1.5 percent. But the Dow Jones Transportation average lost 1.1 percent in the wake of results from Norfolk Southern Corp , which said quarterly profit fell on lower shipments of coal and merchandise. Its shares slumped 5.7 percent to $62.23. Shares of C.H. Robinson Worldwide Inc fell 2.6 percent to $59.37. According to Thomson Reuters data through Tuesday, of the 161 companies in the S&P 500 that have posted earnings, 60 percent have beat analysts' estimates. Earnings are expected to decline 2.2 percent compared with the same quarter a year ago. Financial information firm Markit said its U.S. ``flash,'' or preliminary, Purchasing Managers Index for the manufacturing sector edged up to 51.3 this month from 51.1 in September, but slow growth and economic uncertainty suggested the sector's recent struggles may persist over the final months of 2012. Data on the housing market showed new U.S. single-family home sales surged in September to their highest level in nearly 2-1/2 years, further evidence the housing market recovery is gaining steam, while house prices rose 0.7 percent on a seasonally adjusted basis from July to August. The Federal Open Market Committee will conclude the second day of a two-day meeting on Wednesday. Analysts and primary dealers expect the FOMC to leave fed funds rate in the current 0.0 percent to 0.25 percent range.

https://www.cnbc.com/2016/07/06/us-markets.html

CHRW

CH Robinson

Stocks close higher, led by 1% rise in health care

U.S. stocks closed higher Wednesday, helped by rising oil prices, and after the Fed released minutes from its June meeting. Federal Reserve policymakers said it was prudent to wait for more data and the Brexit vote result before raising rates, and cited a slowdown in hiring as a reason to keep rates unchanged last month, according to meeting minutes released Wednesday afternoon. The non-farm payrolls report due Friday is the key data for the week. "The jobs number really got under their skin," said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ. "They have questions about whether the recovery is slowing, so the only thing that's going to lift this uncertainty is this Friday's report." The major U.S. indexes recovered opening losses to attempt gains ahead of the minutes' release. Health care rose more than 1 percent to lead most S&P 500 sectors higher. Year-to-date, the sector is up 1.2 percent versus the S&P's 2.7 percent gain. The iShares Nasdaq Biotechnology ETF (IBB) closed nearly 2.4 percent higher. U.S. crude settled up 1.78 percent or 83 cents, at $47.43 a barrel ahead of inventory data due in the next 24 hours. WTI fell more than 4.5 percent Tuesday. "It's just a combination of everything (that happened) overnight just started to reverse," said Jeremy Klein, chief market strategist at FBN Securities. The benchmark 10-year Treasury yield came off its record low of 1.321 percent to trade near 1.38 percent. The Japanese yen was near 101 against the U.S. dollar after earlier threatening to break below 100. "It's safety over yield right now. People just want their money back and they don't necessarily care that they got much interest with it," said JJ Kinahan, chief strategist at TD Ameritrade. "People get concerned, especially when you see yields at all-time lows." Global bond yields hit new record lows this week. The German 10-year bund fell to negative 0.204 percent Wednesday, while the UK 10-year gilt dropped to 0.724. Italy, Japan, and Switzerland's government bond yields also hit new bottoms; Japan's yield curve turned almost entirely negative, with the exception of the 30-year note, yielding about 0.045 percent. Other Treasury yields came off lows and tried for gains, with the last near 0.58 percent. The 30-year Treasury yield was last trading near 2.14 percent after earlier touching a fresh record low of 2.098 percent. The Dow Jones industrial average closed about 78 points higher with Home Depot having the greatest positive impact, while DuPont had the greatest negative impact. Earlier, the index fell 127 points. The Nasdaq composite outperformed as shares of Facebook , Amazon.com and Apple climbed. The Dow transports closed a touch lower after earlier falling more than 1.5 percent. J.B. Hunt led advancers, while United Continental was the greatest decliner. The ISM non-manufacturing PMI came in at 56.5 for June versus 52.9 in May. Markit's U.S. services PMI showed marginal expansion at 51.4 in June, up fractionally from 51.3 in May.

https://www.cnbc.com/2015/12/16/us-markets-fed.html

CHRW

CH Robinson

Dow closes up more than 200, S&P positive for year after Fed raises rates

"I think the market heard what it wanted to hear and that should bode well here for '15 and the first month of '16," said Tom Siomades, senior managing director and head of Hartford Funds Investment Consulting Group. The major averages extended gains after Fed Chair Janet Yellen said in a press conference that policy would remain accommodative and that the significance of the first hike should not be overblown. U.S. stocks closed higher after the Federal Reserve raised rates for the first time in nearly a decade. Only the energy sector lagged as oil prices resumed their decline. Oil traded lower Wednesday after two days of recovery from near-seven-year-lows. U.S. crude oil futures settled at $35.52 a barrel, down $1.83, or 4.90 percent, after weekly EIA crude inventories showed a rise of 4.8 million barrels. The S&P 500 ended slightly off session highs with gains of about 1.45 percent, in positive territory for the year so far. The index posted its first three-day win streak since October. The Dow Jones industrial average ended up about 224 points after earlier adding 250 points with Goldman Sachs contributing the most to gains. In morning trade prior to the Fed's decision, the Dow added as much as 165 points before briefly turning negative. Leading S&P sector advancers, utilities jumped more than 2.5 percent for its best daily performance since March. Energy was down about half a percent as the only decliner. "We remain in an environment where interest rates remain pretty moderate and that bodes well for utilities," said John Bartlett, co-portfolio manager of the Reaves Utilities ETF (UTES). Treasury yields held just below or near session highs, with the crossing 1 percent for the first time since 2010. The 10-year yield hit a high of 2.33 percent, its highest since Dec. 4. The hit a high of 1.776 percent, its highest since Dec. 4. Read MoreInterest rate hike: What you need to know The U.S. dollar index held about 0.2 percent higher, after a brief dip following the Fed decision. The euro briefly fell below $1.09 after temporarily topping $1.095. "I think the bond market will still call the bluff on the Fed's projections. They're being a little more hawkish right now than they will actually be next year," said John Caruso, senior market strategist at RJO Futures. As most expected, the U.S. central bank raised its target funds rate by a quarter point, while emphasizing a gradual and data-dependent pace of future tightening. Wednesday's hike was the first since June 2006. Read MoreFed sees rates around 1.375 percent at end 2016 "Markets have not been caught off guard," said Eric Lascelles, chief economist at RBC Global Asset Management. "I'll be curious to see how it plays out over the next couple days but I think it would be positive," he said. "The key takeaway from (the Fed today is) rates are going to remain low. The interest rate path, despite the first tightening, is going to remain gradual," said Krishna Memani, CIO at OppenheimerFunds. Read MoreFed gives step-by-step plan for raising rates He said he "expects volatility the moment the economy strengthens because investors are going to expect the Fed tightens more (quickly)." In economic news, housing starts rose 10.5 percent in November, while building permits rose 11 percent. Mortgage refinances rose 1 percent on rate fears. U.S. industrial production saw its sharpest decline in more than three and a half years in November as utilities dropped sharply, a sign of weakness that could moderate fourth-quarter growth. Industrial output slipped 0.6 percent after a downwardly revised 0.4 percent dip in October, the Federal Reserve said in a Reuters report Wednesday, marking the third straight month of declines. Capacity utilization was 77.0 percent. December Flash Manufacturing PMI fell to from November to 51.3, the weakest improvement in manufacturing sector business conditions in three years, Markit said. Read MoreOil at $100? 'Outrageous' forecasts for 2016 Trading has been volatile in the last several days as traders weighed sharp declines in oil prices, seasonal tax-loss selling and anticipation of quadruple witching expiration Friday as the year-end approaches. Other commodities traded mixed, with copper and gold higher but natural gas near lows not seen in more than a decade. "That's one of the scary things for individual investors here is that time horizon (fifteen minutes versus the long-term)," LPL Financial Investment Strategist and Economist John Canally said ahead of the Fed's decision. "Our view is you probably don't want to react to any near-term movements." He was keeping an eye on currencies and emerging market ETFs. The iShares MSCI Emerging Markets ETF (EEM) ended nearly 2 percent higher for its best day since early November, but is still down about 15 percent year-to-date.

https://www.cnbc.com/id/40908522

CHRW

CH Robinson

Stocks to Watch: Carnival, Apple and More ...

Stocks continued to struggle for direction after a better-than-expected report on November factory orders, as investors waited for minutes of the Federal Reserve's latest meeting for clues on monetary policy. The Dow Jones Industrial Averagerose more than 10 points a day after upbeat news on manufacturing across the world encouraged investors to get the new year off to a strong start. All the major indexes closed at multi-year highs. So which individual stocks are worth watching today? Here are six that are on the move: Carnival Corporation The cruise line was trading at levels not seen since October 2007. The shares were up more than 1% Tuesday. ---------- C.H. Robinson Worldwide The trucking company was downgraded to neutral from buy at Bank of America Merrill Lynch. ----------- TRW Automotive Holdings Corp The auto parts company was hitting an all-time high Tuesday morning. The shares were up more than 1%. -----------Vitamin Shoppe Inc The vitamin and health food retailer was downgraded to market perform from outperform at BMO Capital. ----------- Apple Inc The computer hardware manufacturer was added to the short-term buy list at Deutsche Bank. The shares also hit another all-time high Tuesday morning. ----------- Nike Inc The footwear and clothing company was removed from the conviction buy list at Goldman Sachs. ______________________________ Get the latest stock picks on the CNBC Stock Blog, and see what analysts and others are watching before the bell each day at Analyst Watch.

https://www.cnbc.com/id/40578134

CRL

Charles River Laboratories

The Market’s 12 Gifts of Christmas

Both Diamond Foods and Lululemon Athletica delivered better-than-expected earnings. That’s one. And two came the from the short squeezes that followed in both of them because they were so heavily shorted, pushing the stocks higher. Three was the Chinese IPO we saw today for SemiLEDS, which popped 52 percent. And that followed similar, if not better, moves in Youko.com and DangDang on Wednesday. Freeport-McMoRan was the bearer of gifts four and five, first for its $1 special dividend and second for its stock split. You might scoff at the split, but Cramer said fact that FCX in February, when the split goes through, will halve in price entices new buyers into the market. Number six is the gain a company gets from making a smart acquisition. Case in point: Helen of Troy’s purchase of Kaz, which markets products you see under the brand names of Vicks or Honeywell. Think humidifiers, fans and air purifiers that you probably wouldn’t buy if they lacked the big-name label on them. HELE, a personal-care products company, was up nearly $4 on the news. Ciena closed 15 percent higher than its $15 and change trading price this morning after raising its sales guidance for 2011. That was gift number seven. Dean Foods was number eight thanks to the refinancing of its debt. The stock jumped 12 percent because the potential for insolvency seems less likely. Big contracts gave us win number nine. That came courtesy of radio company Clear Channel awarded ratings agency Arbitron with a deal that sent ARB up almost 19 percent. The deal came out of the blue, leaving analysts scrambling to upgrade the stock. Speaking of upgrades, gift 10 was the new “buy” recommendations on Legg Mason and Janus . A push from analysts is definitely a gift, Cramer said, or at least a stocking stuffer. Angry shareholders were the givers of gift number 11. They urged Charles River Labs to put itself up for sale, and the chatter alone send the stock 2.6 percent higher. And finally, number 12: AIG has finally generated cash enough to start paying back the government some of the money it owes for that bailout. As a result, AIG climbed 13 percent. Cramer thinks gift 13 could be coming Monday, a day when mergers are often announced. Will it be a better offer for Compellant from Dell? Or Air Products for Airgas. He’ll be watching to find out. Oh, and one final note: Cramer thinks Lululemon Athletica, which rose $8 after reporting a stellar quarter on Thursday, is still a buy—even up here. And not just because of outperformance. There’s also the fact that there are only 20 million shares trading on the market. It’s that scarcity that’s driving the price, he said, and he doesn’t think it’s done. Not with big institutional investors trying to get as much of it as they can. “I say pray for a secondary,” Cramer said, “because that’s about the only way that people will be able to get enough without moving it.” Call Cramer: 1-800-743-CNBC Questions for Cramer? madmoney@cnbc.com Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

https://www.cnbc.com/id/38527371

CRL

Charles River Laboratories

Pops & Drops: Fortune Brands, Arena Pharmaceuticals...

Penske Automotive Group (PAG) popped 3%: The second-largest auto retailer received an upgrade to "buy" from "hold" from Soleil Securities Monday. "Shorts getting unwound here," notes Joe Terranova of Vitrus Investment Partners. "Beware of you are short. Looks like they're coming for you." DROPS (stocks that slid lower) Arena Pharmaceuticals (ARNA) dropped 11%: Shares of the biopharmaceutical company pushed lower Monday after JPMorgan Chase downgraded the stock to "neutral" from "overweight." Steve Grasso of Stuart Frankel recommends buying this stock, but use a "tight stop." If it trades below $6.95 a share, he thinks you should bail. Charles River Labs (CRL) dropped 4%: The provider of drug-testing services reported dismal second quarter results with its profits slipping 58% and simultaneously cut its full-year revenue outlook. "This is actually a stock with good volume move," says Tim Seymour of EmergingMoney.com. "I'd take a shot at it." J.M. Smucker (SJM) dropped 3%: The jelly manufacturer's stock slipped Monday after it was downgraded to "hold" from "buy" at Jeffries. It seems they're concerned about commodity prices moving forward, notes Patty Edwards of Storehouse Partners. She would step aside. ______________________________________________________ Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our Web site send your e-mail to fastmoney@cnbc.com. Trader disclosure: On Aug 2, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour owns (AAPL), (F), (GOOG), (POT), (BAC), (C); Grasso owns (ASTM), (ABK), (BAC), (BA), (BGP), (C), (CSCO), (DYN), (JPM), (LPX), (MO), (NDAQ), (PFE), (PRST); Terranova owns (AKAM), (APA), (AXP), (BAX), (BBY), (BMO), (C), (COP), (CREE), (CSX), (CVS), (EMC), (FCX), (GOOG), (GS), (JNPR), (JOYG), (KOL), (MMM), (MOS), (MSFT), (PCP), (PEP), (PFE), (POT), (RIMM), (TER), (SKX), (SU), (UAUA), (WYNN), (XBI); Edwards own (RIMM) For Brian Kelly Accounts managed by Kanundrum Capital own (CM) Accounts managed by Kanundrum Capital own (BMO Accounts managed by Kanundrum Capital own Swiss Franc Accounts managed by Kanundrum Capital own (TLT) Accounts managed by Kanundrum Capital own (BAK) Accounts managed by Kanundrum Capital own (ORI) Accounts managed by Kanundrum Capital own (UNG) Accounts managed by Kanundrum Capital own (PFE) Accounts managed by Kanundrum Capital are long (JPM) Accounts managed by Kanundrum Capital are long (GLD) Accounts managed by Kanundrum Capital are long (OIH) Accounts managed by Kanundrum Capital are long (RIMM) call spread Accounts managed by Kanundrum Capital are short the US Dollar For Steve Grasso Stuart Frankel & Co and it’s partners own (BAX) Stuart Frankel & Co and it’s partners own (COG) Stuart Frankel & Co and it’s partners own (CUBA) Stuart Frankel & Co and it’s partners own (DHR) Stuart Frankel & Co and it’s partners own (DYN) Stuart Frankel & Co and it’s partners own (ESV) Stuart Frankel & Co and it’s partners own (GERN) Stuart Frankel & Co and it’s partners own (HSPO) Stuart Frankel & Co and it’s partners own (LEN) Stuart Frankel & Co and it’s partners own (MERC) Stuart Frankel & Co and it’s partners own (NWS.A) Stuart Frankel & Co and it’s partners own (NYX) Stuart Frankel & Co and it’s partners own (PDE) Stuart Frankel & Co and it’s partners own (PFE) Stuart Frankel & Co and it’s partners own (PRST) Stuart Frankel & Co and it’s partners own (RDC) Stuart Frankel & Co and it’s partners own (SYMC) Stuart Frankel & Co and it’s partners own (TBT) Stuart Frankel & Co and it’s partners own (TLM) Stuart Frankel & Co and it’s partners own (TRV) Stuart Frankel & Co and it’s partners own (XRX) Stuart Frankel & Co and it’s partners own (SDS) Stuart Frankel & Co and it’s partners are short (QQQQ) Stuart Frankel & Co and it’s partners are short (KEG) For Joe Terranova Terranova works for (VRTS) Terranova is chief market strategist of Virtus Investment Partners, LTD. Virtus Investment Partners owns more than 1% of (CASS) Virtus Investment Partners owns more than 1% of (LDR) Virtus Investment Partners owns more than 1% of (LPHI) Virtus Investment Partners owns more than 1% of (MGRC) Virtus Investment Partners owns more than 1% of (XLB) Virtus Investment Partners owns more than 1% of (XLP) Virtus Investment Partners owns more than 1% of (XLY) Virtus Investment Partners owns more than 1% of (XLI) Virtus Investment Partners owns more than 1% of (XLK) Virtus Investment Partners owns more than 1% of (XLU) Virtus Investment Partners owns more than 1% of (SUBK) Virtus Investment Partners owns more than 1% of (WDFC) Virtus Investment Partners owns more than 1% of (YDNT) Virtus Investment Partners owns more than 1% of (DRYS) For Patty Edwards Edwards own (FCX) for clients Edwards own Gold for clients Edwards own Platinum for clients Edwards own (VXX) for clients Edwards own (AAPL) for clients Edwards own (PFE) for clients Edwards own (F) for clients Edwards own (GOOG) for clients Edwards own (WMT) for clients Edwards own (VLO) for clients Edwards own (AKAM) for clients Edwards own (WFMI) for clients For Itay Michaeli Citigroup Global Markets Inc. or its affiliates has received compensation for investment banking services provided within the past 12 months from ArvinMeritor, Inc., BorgWarner Inc, Lear Corporation, Magna International Inc. Citigroup Global Markets Inc. or its affiliates expects to receive or intends to seek, within the next three months, compensation for investment banking services from ArvinMeritor, Inc.. Citigroup Global Markets Inc. or an affiliate received compensation for products and services other than investment banking services from ArvinMeritor, Inc., Borg Warner Inc, Lear Corporation, Magna International Inc in the past 12 months. Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as investment banking client(s): ArvinMeritor, Inc., Borg Warner Inc, Lear Corporation, Magna International Inc. Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as clients, and the services provided were non-investment-banking, securities related: ArvinMeritor, Inc., Borg Warner Inc, Lear Corporation, Magna International Inc. Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as clients, and the services provided were non-investment-banking, nonsecurities-related: ArvinMeritor, Inc., Borg Warner Inc, Lear Corporation, Magna International Inc. For David Riedel ***No Disclosures*** For Mike Khouw ***No Disclosures*** For Jon Najarian ***No Disclosures*** For Carter Worth ***No Disclosures***

https://www.cnbc.com/id/24539650

CRL

Charles River Laboratories

Stock Picks to Make You Stay in May

The Case for Harley Davidson [On Harley Davidson ] “The is one of their first declines in earnings they’ve experienced since they’ve been a publicly traded company. They have been affected by the slowdown in high-end retail, which is where they are in the United States, but their overseas business is now growing at almost 20 percent a year; it’s now 25 percent of total, and that’s helping…As we come out of this slowdown, I think that stock is going to perform well. They did raise their dividend by just over 10 percent.” James Hardesty, Hardesty Capital Management Market Strategist

https://www.cnbc.com/id/24537231

CRL

Charles River Laboratories

Hogan's Heroes: 10 Bargains For May

Recent gains in the markets have changed the valuation picture on a lot of stocks, but Jefferies managing director Art Hogan is constantly on the lookout for bargains, and he told CNBC about some stocks that are still steals. Airgas: "It's one of the things that doesn't get looked at a lot; it's an industrial name; people look at the cycle and say it's too early to get into the industrials, (but) this is one of the leaders, and I think you can buy it now." Broadcom: "If you want to use less power and have more applications on whatever your device happens to be, OEMs are going to them. They're outsourcing to Broadcom, and they're eating everybody's lunch, especially in portabilty and cellular." Cameron International Charles River Laboratories: "Biotech, especially pharma, outsourcing most of the R&D work that they're doing, and Charles River's been the leader in that; the last couple of quarters, they've turned the corner here." DryShips Dynegy Hornbeck Offshore: "They actually go out to the deep water Gulf and out to Brazil, where, as energy prices get higher and higher, we go deeper and deeper into the Gulf, drilling becomes more profitable, and these guys supply everything that goes out there." Scientific Games Tupperware Ultra Petroleum: "If you look at natural gas, which hasn't gotten as much conversation as oil, Ultra Petro is a play right there."

https://www.cnbc.com/id/26056451

CRL

Charles River Laboratories

Lilly And Covance Commingle

In the latest move in the big pharma restructuring/outsourcing trend, Eli Lilly announced this morningthat it's selling a lab site in its home state of Indiana to the contract research organization Covance . A CRO does lab and clinical work for biopharma companies. LLY is also on the hook to give Covance about a billion-and-a-half dollars worth of business over the next 10 years. The deal is designed to help Lilly get drugs to market faster and cheaper. In the press release the CVD Chairman and CEO calls it a "landmark agreement" that "creates a new strategic paradigm". That might be true to a certain extent in terms of the length and size of the deal, but all of the major drug companies are hoking up with CROs as they farm out more and more of their pre-clinical and clinical trial research to downsize and cut costs. It's a big reason why shares of CVD and its main competitor Charles River Labs have been performing so well. As far as Lilly is concerned, investors are focused on the end of next month when the Food and Drug Administration is supposed to make a decision on whether to approve the company's bloodthinner Effient. The agency recently delayed a ruling by three months. In an earnings day interview on CNBC a couple of weeks ago CEO John Lechleiter said he didn't think the FDA would send the drug to be reviewed by an advisory committee. That's a move that could possibly delay a decision even more and/or throw the drug's fate into question. Lechleiter pointed out that the company's application for approval of the drug--if you printed it--would stack nearly as high as the Empire State Building. So, the FDA has a lot of data to comb through. In a research note to clients this morning, BMO Capital Markets' Bert Hazlett writes, "We are...optimistic/hopeful for the September (Effient) action date." He was providing a recap of a presentation by Lilly's head of U.S. operations, Dierdre Connelly, at BMO's "Focus on Healthcare" Conference yesterday. "They (LLY) continue to have high hopes for (Effient)," Hazlett said. The "action" date for Effient is September 26th. But the FDA could make a decision any time between now and then or even push out the date again. Questions? Comments? Pharma@cnbc.com

https://www.cnbc.com/id/22651806

CRL

Charles River Laboratories

Outsourcing Is Good – for Investors

Outsourcing. To politicians, railing against it brings votes. To companies, it cuts costs. But to Cramer, it’s a chance to make Homegamers some mad money. And that’s no easy task in this market. Sure, the Dow was up 172 points today, thanks in part to a strong earnings announcement from IBM . But, as far as Cramer’s concerned, the rally was just a break in the clouds. The storm will continue. That’s why he recommended buying the defensive stocks traders abandoned today. It’s a chance to get these picks on the cheap before they start to climb again. And Cramer wasn’t talking just about the typical supermarket and drugstore companies. His focus for Monday’s show was on some lesser-known plays called contract research organizations.

https://www.cnbc.com/id/22507749

CRL

Charles River Laboratories

Celgene, Lilly, Biogen-Idec: Part Of Monday Healthcare Lineup

Okay, the real "Granddaddy of 'em all" was actually this past Tuesday at the Rose Bowl (I promise that's my last reference to the amazing USC Trojans unless they win a split national championship), but the granddaddy of healthcare investment conferences begins on Monday in San Francisco. JPMorgan's 26th annual event will feature more than 300 presentations from private and public companies, nearly 5,000 one-on-one company/investor meetings and nearly 8,000 attendees. It's the first and biggest healthcare conference of the year, the place to see and be seen for anyone who's anyone in healthcare investing. It runs through next Thursday, but we'll only be doing live reports and interviews from there on Monday. We received dozens of pitches from PR people to put the CEO of their company or the companies they represent on CNBC Monday. This is one example where we have no problem finding people willing to be interviewed. Although a couple of the "gets" I wanted didn't come through for a variety of reasons--the previously-documented Amgen,Genentech,Medicis and Allergan, just to name a few. We've tried to book a cross-section of CEOs, most of them with companies that have major events anticipated in the new year. So, as promised, here's our lineup:

https://www.cnbc.com/id/45943297

CRL

Charles River Laboratories

Stocks on the Move Now

Shares of the following companies are showing unusual moves in Tuesday's trading session . Among the winners, VOXX International rose sharply after the maker of audio equipment reported better-than-expected earnings results after the bell Monday. To the downside, WebMD fell on news that the healthcare information website said CEO Wayne T. Gattinella has resigned, and expects lower earnings in 2012.

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

CRL

Charles River Laboratories

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

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

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

CRL

Charles River Laboratories

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

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

https://www.cnbc.com/2019/07/05/how-facebooks-libra-could-lead-you-to-clean-out-your-wallet.html

SCHW

Charles Schwab Corporation

How Facebook's Libra could lead you to clean out your wallet

Image Source | Getty Images Once Facebook's Libra makes it to the cryptocurrency mainstream, there may be a new threat to consumers: Their own bad spending habits. Libra is a proposed cryptocurrency designed by Facebook and operated with a consortium of partners, including payments providers, credit card companies and consumer companies. It is set to begin in the first half of 2020. In a Facebook white paper, the company maintains that Libra won't be connected to a user's data for targeted advertisements. Yet the social media giant is planning to incorporate Libra payments into its own products used by billions of people, which leads to other concerns, experts say. "For a number of users, that ease of access for a tool that can be used for purchases and retail consumer activity could be dangerous, especially for those who already have a difficult time keeping control of their budget," said Bruce McClary, vice president of communications for the National Foundation for Credit Counseling. Officials at Facebook did not respond to requests for comment. watch now More than a third of Americans reported that their spending is influenced by experiences on social media, according to Charles Schwab 's 2019 Modern Wealth Survey. The survey, conducted in February, analyzed how 1,000 Americans manage their money. Social media was ranked the top "bad" influence in terms of money management by survey respondents. Overspending Facebook announced its cryptocurrency, called Libra. Chesnot | Getty Images News | Getty Images Libra could make it easy to overspend because it will be easy to access, said Tyrone Ross Jr., an investment advisor specializing in cryptocurrency in Woodbridge, New Jersey. "Knowing how humans are, if it is easy to do something, they're going to have at it," he said. Compared to cryptocurrencies like bitcoin, Libra may be easier to use for everyday exchanges like bill paying or buying groceries, Ross said. Libra was developed as a currency for exchange, and will be less likely to be used as an investment asset like bitcoin, Ross said. It is intended to be a "stable digital cryptocurrency" and will be "fully backed by a reserve of real assets," including bank deposits and short-term government securities, according to the company's white paper. That means it shouldn't have wild fluctuations in price like other cryptocurrencies. watch now Bitcoin is not as appealing for exchange purposes because there is little clarity about how it can be used and it requires technical know-how, Ross said. Efforts to gamify or digitize money will result in an "an increase in spending on mindless purchases", said Priya Malani, a founding partner at Stash Wealth in New York. She said the convenience and efficiency of payment make it a lot easier to part with your money. Lending David Marcus, vice president of messaging products for Facebook Inc., speaks during a Bloomberg Television interview on the sidelines of the Wall Street Journal D.Live global technology conference in Laguna Beach, California, U.S., on Wednesday, Oct. 18, 2017. Patrick T. Fallon | Bloomberg | Getty Images David Marcus, the leader of Facebook's Calibra division, which will develop products around the new cryptocurrency, said the company may offer other financial services, including loans, in the future. Lending could be become problematic if consumers borrow to maintain an unsustainable lifestyle, Malani said. "If you aren't careful, 'just this one purchase' can quickly become years of paying back the money you borrowed at damaging, high interest rates," she said. This year, consumer debt in the U.S. reached an all-time high of $4 trillion, according to the Federal Reserve. How to manage A customer, left, hands over U.S. twenty dollar bills as she pays for her purchases in Frankfurt, Kentucky. Luke Sharrett | Bloomberg | Getty Images

https://www.cnbc.com/2021/04/13/gop-donors-lawmakers-plot-next-attacks-on-corporate-america-big-tech-.html

SCHW

Charles Schwab Corporation

GOP donors, leaders discussed plans to take on Big Tech, corporations during retreat at Trump's Mar-a-Lago

Many top Republican donors, lawmakers and strategists huddled privately over the weekend at Mar-a-Lago, the Florida resort owned by former President Donald Trump, to discuss ways the party can take on corporate America and Big Tech, according to several attendees. Donors and strategists met throughout the weekend to discuss a "strategy on social media and big tech," according to Matt Schlapp, the chairman of the American Conservative Union, who said he has been part of these conversations. "I'm participating in a lot of conservations with people who have substantial means, and there are going to be new ways for people to get there information and to share information and to stay connected with each other," Schlapp said. He later defined most of these conversations as "informal" and that "plans are still coming together." One major player, Republican donor Roy Bailey, told CNBC that he is interested in potentially investing in a social media platform tailored for conservatives, to counter Facebook and Twitter. "It is something I'm interested in if it can be put together properly," said Bailey, a Texas businessman who was a key fundraiser for Trump's 2020 campaign. "I've identified a potential platform and there's a lot of work to do." The concept is in its early stages, he said. Bailey also noted that the "platform would be where conservatives can control their own destiny and not worry about censorship." He declined to comment further on the effort. Todd Ricketts, a longtime GOP donor who is also the RNC finance chair, is being floated as a potential investor in such a platform. "He always looks at investing into companies that upend established markets," Brian Baker, a spokesman for Ricketts, told CNBC. The discussions come as the party feuds with major corporate leaders over new voting laws pushed by Republicans in states such as Georgia. The tension also comes more than three years after Trump and congressional Republicans lowered the corporate tax rate to 21% from 35%. Numerous corporate leaders have come out against the Georgia law and others across the country that critics say restrict voters from participating in elections. Top Republicans have often publicly blasted social media giants such as Facebook and Twitter, claiming they censor conservative voices. The companies deny these accusations. Trump was banned from the two social media platforms in the wake of the deadly Capitol Hill riot on Jan. 6. He was later impeached for inciting the riot, but was ultimately acquitted in the Senate. There is also infighting among Republicans. Trump on Saturday during the portion of the RNC retreat at Mar-a-Lago took aim at Senate Minority Leader Mitch McConnell, R-Ky., for helping certify the results of the 2020 election.

https://www.cnbc.com/2021/09/13/stock-market-futures-open-to-close-news.html

SCHW

Charles Schwab Corporation

Dow sheds 290 points, S&P 500 closes lower despite cooler-than-expected inflation reading

In this article IYG Follow your favorite stocks CREATE FREE ACCOUNT watch now U.S. stock indexes closed lower Tuesday, giving up gains earlier in the session after a better-than-feared inflation reading and falling back into their September doldrums. The Dow Jones Industrial Average shed 292.06 points, or 0.8%, to 34,577.57. The S&P 500 dipped nearly 0.6% to 4,443.05 and the Nasdaq Composite ticked about 0.5% lower to 15,037.76. Stocks popped at the open after the August consumer price index, while still showing a significant jump in inflation, came in less than expected. However, the stock averages turned lower roughly half an hour into trading. Shares linked to the economic recovery dropped. Bank of America lost 2.6%. General Electric took industrial shares into the red, closing 3.9% lower. CNBC "What we need to see to be fundamentally markets supportive is a continued easing in the inflation piece without deterioration in the economic outlook," said Liz Ann Sonders, Charles Schwab chief investment strategist. Apple shares closed nearly 1% lower after the company unveiled the new iPhone 13 at its annual fall product event, its stock movement in line with historical patterns. Meanwhile, investors crowded into some of their favorite tech bastions with Microsoft ending the day 0.9% higher. Stocks have been under pressure since August's jobs report, released by the Labor Department on Sept. 3, missed expectations. "The next couple of weeks, economic data points become even more important to see whether it confirms the the weakness that we saw on the August jobs report or starts to suggest that maybe we're seeing an improvement," Sonders said.

https://www.cnbc.com/2019/07/26/dow-to-rise-house-passes-budget-deal-and-softbank-debuts-mega-fund.html

SCHW

Charles Schwab Corporation

What to watch today: Dow to rise, House passes budget deal, and SoftBank debuts mega fund

On the corporate front, Dow component McDonald's (MCD) and Twitter (TWTR) are among the companies reporting quarterly earnings this morning, along with AbbVie (ABBV), Colgate-Palmolive (CL), Goodyear Tire (GT), and Phillips 66 (PSX). There are no earnings reports of note after today's closing bell. On today's economic calendar, the government is out with its first reading of second-quarter gross domestic product (GDP), the broadest measure of the U.S. economy, at 8:30 a.m. ET. (CNBC) U.S. stock futures were pointing to a modestly higher Wall Street open this morning, following a Thursday slide that saw both the Dow and Nasdaq post their biggest one-day losses in a month. The Dow also closed at a two-week low. Despite all that, the Dow is just below breakeven for the week, and the S&P 500 and Nasdaq remain on track for their third positive week in four weeks. (CNBC) The Trump administration decides today whether to renew a license this week for energy company Chevron's (CVX) operations in Venezuela, with Secretary of State Mike Pompeo supporting a renewal and other officials opposing it. At issue is a six-month U.S. Treasury Department license that has allowed Chevron to keep operating despite U.S. sanctions on the OPEC nation's oil sector. (Reuters) The House passed a bill to raise the U.S. debt ceiling and set budget levels for two years, taking a step toward avoiding a calamity that threatens to disrupt the economy. The House vote sends the measure to the Senate, which is expected to pass it in the coming days and send it to Trump's desk. The president is expected to sign the bill. (CNBC) House Speaker Nancy Pelosi and Rep. Alexandria Ocasio-Cortez are meeting today after weeks of public tensions between the two Democrats. The two have recently unified after President Donald Trump told four congresswomen, including Ocasio-Cortez, to "go back" to where they came from. (USA Today) The Trump administration outlined the details of a $16 billion aid package for farmers damaged by bad weather and the U.S. trade war with China. The U.S. Department of Agriculture program includes $14.5 billion in direct payments to farmers for a range of crops. Sign-ups for aid start Monday, while payments begin next month. (CNBC) The Justice Department is pushing state officials to support T-Mobile's (TMUS) merger with Sprint (S), through the selling of assets to Dish Network (DISH), The Wall Street Journal reported. The discussions come in response to some of the state attorneys general who have already filed a federal antitrust suit seeking to block the more than $26 billion merger. The Senate Intelligence Committee reported that election systems in all 50 states were targeted by Russia in 2016. The attack was larger than previously acknowledged, and is just the first report of several to be released from the committee's investigation into the election interference. (NY Times) * It's not just the Russians anymore as Iranians and others turn up disinformation efforts ahead of 2020 vote (Washington Post) Executives at Wall Street's biggest banks have begun throwing financial support to their early favorites in the 2020 Democratic presidential field: Joe Biden, Kamala Harris, and Pete Buttigieg. All three candidates combined are to receive contributions during the second quarter from at least 15 bank executives, including Goldman Sachs and Morgan Stanley. (CNBC) SoftBank announced today its second mega fund to invest into technology companies developing artificial intelligence technologies around the world. Prominent corporations that are expected to participate in Vision Fund 2 include: Apple (AAPL), Microsoft (MSFT), iPhone assembler Foxconn, Standard Chartered Bank, and a handful of Japanese financial giants. (CNBC) Chinese authorities suspect U.S. package delivery company FedEx violated the law by not making shipments of goods from the tech company Huawei to their recipients, the Xinhua state news agency reported today. Investigators reportedly found that FedEx had held back more than 100 Huawei-related shipments. (Reuters) * China wants to track and grade each citizen's actions — it's in the testing phase (CNBC) The Australian government released a report today recommending tighter oversight over multinational digital platforms including Alphabet (GOOGL) and Facebook (FB), to ensure fairness for other media businesses and give people more control over how their data is used. (AP) Apple (AAPL) has agreed to buy the majority of Intel's smartphone modem division. Some 2,200 Intel employees are joining Apple, according to the announcement. Apple paid $1 billion for staff, intellectual property, and other equipment from Intel (INTC). The deal is expected to close in the fourth quarter of 2019. (CNBC)

https://www.cnbc.com/2019/05/28/wealthfront-bumps-interest-rate-to-highest-in-the-industry-in-ongoing-battle-for-deposits.html

SCHW

Charles Schwab Corporation

Wealthfront bumps interest rate to highest in the industry in ongoing battle for deposits

Robo-advisor Wealthfront is raising the interest rate on its cash account as fintech firms and Wall Street banks battle for customers deposits with lower fees and more kickbacks. The decade-old fintech company, which manages close to $14 billion in customer assets, is bringing its interest rate from 2.29% to 2.51%, which according to Bankrate.com is now the highest in the industry. Wealthfront launched the Federal Deposit Insurance Corporation-insured cash account, which is a type of brokerage account, in February and has since ushered in more than $1 billion in customer deposits. "We want to make choosing our cash account a no-brainer and eliminate the need to comparison shop," Wealthfront said in a blog post Tuesday. "Our cash account is better on nearly every dimension and increasing the rate to the top of the market makes it that much easier for consumers to pick Wealthfront." The new rate is higher than some notable high-yielding options. Ally Bank and Goldman Sachs' consumer banking arm Marcus have 2.20% and 2.25% rates, respectively. United Bank was the previous high-water mark with a 2.5% annual percentage yield. The national average for savings accounts is 0.1%, according to Bankrate. Checking accounts meanwhile, yield an average .08%. The competition for customers' cash is heating up as fintech firms expand into banking businesses outside of their initial use cases. This year, "the battle for millennial deposits will become more aggressive as fintech account products hit the market," CB Insights senior tech analyst Lindsay Davis said in the firm's outlook report. Wealthfront, which started as an automated wealth advisor, said it also plans to take on more bank-like functions this year with automatic bill pay, direct deposit, and debit or ATM cards. Founders Dan Carroll and Andy Rachleff, who also co-founded well-known investing firm Benchmark Capital, are betting that tech-savvy millennials don't want human interaction in their banking experience. The two are aiming to provide "self-driving" money, modeling the company after viral tech names like Netflix , instead of more obvious comparisons like Charles Schwab . Like many of its financial start-up peers, Wealthfront works with FDIC-insured partner banks to hold customers' deposits. It partners with East West Bank, New York Community Bank, and others and because they use multiple bank partners, deposits are insured up to $1 million. Carroll told CNBC in April that since the firm relies on automation, it's able to pass cost savings onto its clients in the form of higher interest. Wealthfront's rate is in line with the fed funds rate, the interest rate at which banks and other institutions lend money to one another, typically on an overnight basis. That began rising in 2015, and is now at a target range of between 2.25 and 2.5 percent, up from 1.75 at the high end a year ago. As that rate changes, Carroll said Wealthfront will "be making similar decisions on if our rate goes up or down."

https://www.cnbc.com/2018/12/14/apple-1-billion-austin-campus-latest-big-firm-investment-texas-gov.html

SCHW

Charles Schwab Corporation

Apple's $1 billion Austin campus is just the latest big investment from top tier companies: Texas governor

Major corporations such as Apple , which just announced a $1 billion investment into a new Austin campus, are buying into Texas, Gov. Greg Abbott told CNBC Friday. The iPhone maker promises to develop a 133-acre complex to hold 5,000 employees, with room for an additional 10,000 more. It will be situated within a mile of Apple's existing facility in the Texas capital. The Republican Abbott shrugged off Amazon 's decision last month to pass on cities in his state in favor of locating its second headquarters on the East Coast, split between New York and Virginia. "The week after Amazon made that announcement, McKesson ... announced it was moving its headquarters from San Francisco" to the Dallas-area in 2019, the governor said on "Squawk Alley." In addition to Apple and medical supplier McKesson, Abbott said software giant Oracle opened a "massive" campus and investment firm Pimco announced an artificial intelligence facility — both in Austin. "Those are just two of dozens of examples of what's happening in Austin, Texas, just this year," Abbott said, referring to the Oracle and Pimco projects. The first-term governor said companies like Amazon, who purchased Austin-based Whole Foods, and Apple are turning to Texas for its access to top tier universities in the state and low taxes. Abbott also touted Texas, which topped CNBC's 2018 Top State for Business list, as the leading choice for companies leaving California. He cited a Dallas Business Journal article that reported that 13,000 businesses have left The Golden State since 2008 for "a better business climate," with most settling in Texas. Convenience store distributor Core-Mark , Toyota Motor North America, and Charles Schwab are a few other names that have moved their corporate offices or opened regional hubs in North Texas, according to the article. "If I can use a football analogy: Texas is the Alabama when it comes to recruiting in college football," Abbott said. "We get to pick the 5-star recruit companies that are coming to the Lone Star State."

https://www.cnbc.com/2018/12/13/robinhood-goes-after-banks-with-checking-and-savings-accounts.html

SCHW

Charles Schwab Corporation

Robinhood, the start-up upending stock trading, goes after banks with 3% checking and savings accounts

watch now Popular stock trading app Robinhood, which disrupted Wall Street with zero-fee transactions, is taking aim at an even bigger market: banks. The 5-year-old company on Thursday unveiled "Robinhood Checking & Savings," which offers checking and savings accounts with no fees and pays an interest rate roughly 30 times the national average. Customers will earn 3 percent annually on money in either accounts, paid out on a daily basis. "We as a company are going make the financial services industry more inclusive and are going to do it with zero commissions, a lower cost structure, and by relentlessly automating and building an engineering-first company," Robinhood co-CEO Baiju Bhatt told CNBC. "We're charging no fees, period." The no-fee model is what you might expect from Robinhood. The Menlo Park, California-based company took Wall Street brokerages by storm by offering stock trading for free. The model put pressure on incumbents like Charles Schwab and TD Ameritrade , which charge $4.95 and $6.95, respectively, for equity trades. watch now That price war is still intensifying. J.P. Morgan Chase unveiled its own free trading app in August, sending shares of TD Ameritrade and other public online brokers lower that day. Robinhood is now taking the disruptive no-fee model to checking and savings accounts, a fundamental way retail banks make money. But there's an important distinction between what the start-up is offering and a traditional bank: the Robinhood savings account is SIPC-insured, not FDIC-insured, which means the customer is essentially opening a brokerage account that has different protections. Banks use customer deposits to make loans and to profit from account fees, ATM fees, penalty charges and foreign transaction fees — none of which exist in Robinhood's model. Thursday's announcement launches the fintech company further into the consumer banking ring with Wall Street heavyweights like Bank of America, Wells Fargo and CitiGroup. How will they make money? Robinhood's rate is well-above the average 0.08 percent yield on U.S. checking accounts and the 0.1 percent average on savings accounts, according to the latest data from Bankrate.com. Goldman Sachs' consumer banking arm, Marcus, is one of the highest-yielding banks in the savings products category with a 2.05 percent annual percentage yield. "If we roll this product out, and it's adopted by millions who love it and use, we will have one of the fastest growing financial services companies in history," Bhatt said. Robinhood saw massive growth in 2018 alone, jumping from 5 million to 6 million customers in a matter of months and was recently valued at $5.6 billion. Robinhood App Source: Robinhood Bhatt, who co-founded Robinhood in 2013 with Vlad Tenev, said the yield is not a "teaser rate." Given the direction from the Federal Reserve, which is slowly raising interest rates, Bhatt said the 3 percent rate should be sustainable. They are not necessarily going to make money on these checking and savings products right away. Robinhood is taking a page out of Amazon's playbook by shunning profits for growth. "Amazon built an entire business around a strategy that makes that long-term investments in financial services," Bhatt said. "We fully intend to make money off of this but we do not need it to be profitable on day one." The start-up will split revenue from debit card transactions in a partnership with Mastercard. It will also earn interest off customer assets it holds, which are invested in government-grade securities like U.S. Treasurys. For stock trades, it generates revenue by taking a fraction of a cent per dollar from each trade order as well as collecting interest on customer deposits. Robinhood also makes money on a paid subscription service called Robinhood Gold, launched in September 2016. Robinhood has faced criticism over its revenue model, especially considering its founding ethos, which some have categorized as "anti-Wall Street." According to a report from Bloomberg, the company makes almost half of its revenue from selling its customers' orders to high-frequency trading firms, or market makers, like Citadel Securities. The practice, known as payment for order flow, is not uncommon on Wall Street. Almost all retail brokerages employ it. Robinhood issued a statement after the report, saying like the rest of the industry, it "participates in rebate programs which help customers get additional price improvement for their orders by creating competition amongst the exchanges and liquidity providers who fill the orders, often resulting in superior execution quality." Robinhood also said in the statement it does not sell personally identifiable data of any kind to execution venues. "Robinhood does not, has not, and will not sell customer information," the company said. watch now Beyond the 'cool factor' In a low-interest rate environment, even nonmillennial customers are hungry for any sort of yield. The higher-than-average rate could usher in a new age group that doesn't typically care about a "cool" factor associated with Robinhood, Bhatt said. "We started [the] company with idea that we could make investing accessible to a younger audience," Bhatt said. "Today it's less tightly concentrated among millennials." The company is launching an entirely new app on Thursday that will house its stock trading alongside the checking and savings accounts. Robinhood's debit cards with Mastercard will be available in January on a first-come, first-serve and are being rolled out in a limited amount. Robinhood also partnered with Costco, Walgreens and CVS among others to give customers access to 75,000 free ATMS across the country. Robinhood CEOs Baiju Bhatt and Vlad Tenev. Source: Robinhood

https://www.cnbc.com/2018/12/17/what-fintech-can-learn-from-robinhoods-epic-fail.html

SCHW

Charles Schwab Corporation

What fintech can learn from Robinhood's 'epic fail' of launching checking accounts

Robinhood CEOs Baiju Bhatt and Vlad Tenev. Source: Robinhood Robinhood's attempt to launch a disruptive, first-of-its-kind product offers some lessons for fintech companies trying to break the mold in a highly regulated industry. On Thursday, the popular stock-trading start-up rolled out what executives said was the biggest announcement in the company's history: Checking and savings products with a 3 percent interest rate, and zero fees. But just a day later, the start-up un-winded its ambitious plan. There were a number of questions about the product — but mostly on the regulatory side. watch now The accounts being offered by Robinhood were insured by the Securities Investor Protection Corporation, or SIPC. Those protections are a far cry from FDIC-checking and savings accounts, which have different capital requirements and are equipped to handle bank failures or a run on a bank. President and CEO of SIPC Stephen Harbeck had "serious concerns" about Robinhood's product when the news hit Thursday. But said he didn't have a chance to air those to the company because Robinhood never called him, or the SEC, ahead of the launch. Harbeck's key worry was that accounts Robinhood was touting as checking and savings were not insured the same way. SIPC protects brokerage accounts, which Harbeck explained are meant for the purpose of investing in securities. Cash in those accounts that isn't being used to invest in stocks, would likely not be protected, he said. "I understand that people want to be innovative and things change, but I have to work within a certain statute," Harbeck told CNBC in a phone interview Monday. "The statutes we work with can only can protect certain funds." Aim before you shoot Late on Friday evening, Robinhood's co-CEOs published a blog post amending their original plan and said they would re-brand and re-name the product, which "may have caused some confusion." "They've done the responsible thing," SIPC's Harbeck said. "Next time they'll aim before they shoot." UBS analyst Brennan Hawkins was the first and only major Wall Street analyst to call out major holes the Robinhood's plan. He said he was shocked by the speed at which SIPC responded, which is not a good sign for Robinhood. "That shows that this was a really significant over-reach," Hawken told CNBC on Monday. "We shouldn't call it an about-face, but an epic fail." The marketing material described this as a banking product. While they may have said otherwise in the fine print, Hawken said unsophisticated investors might not have gotten the message. There are guarantees and reassurances that come with FDIC-insured banking products that a first-time investor might not be aware of. watch now This was also a key worry for former Rep. Barney Frank, a key architect of the post-crisis financial reform that bears his name. "If there's any uncertainty about regulatory protection, there is serious potential for people to be misled," Frank told CNBC on Friday. "There needs to be certainty — if there's stuff that isn't covered it needs to be in big bold [letters] on the top of the page." Make apples to apples comparisons Robinhood said it's investing customer deposits in government-grade securities like U.S. treasuries, which yield 2.8 percent. That model is strikingly similar to what's known as a money market fund. Those investment vehicles also put money in short-term debt securities like U.S. Treasury bills and are widely regarded as safe investments with a higher yield. Hawken said by offering something like a money-market fund and calling it a checking account was misleading, and more of an "apples to oranges" comparison. "The product is far less of an outlier in the money market world versus banking products," Hawken said. "You're not really comparing apples to apples with those interest rates." Robinhood's 3 percent interest rate for checking and savings would have been roughly 30 times the national average. The average yield for checking accounts is 0.08 percent yield on U.S. checking accounts and the 0.1 percent average on savings accounts, according to the latest data from Bankrate.com. Goldman Sachs' consumer banking arm, Marcus, is one of the highest-yielding banks in the savings products category with a 2.05 percent annual percentage yield. But plenty of other money market funds are actually in the same range 3 percent interest as Robinhood. Unlike a money market fund though, Robinhood planned to offer customers immediate access to their money, JMP Securities' Devin Ryan said Robinhood's structure is more of a "hybrid." "The company is going back to the drawing board to put their own spin on some type of higher yielding instrument that passes along the benefit of a checking account," said Ryan, a managing director and analyst at JMP. "It's still something different than the incumbent firms." The challenge for Robinhood, he said is playing the role of disruptor in an old school, highly regulated industry. "When you're in that position, everything you create isn't going to succeed on the first pass and that's okay," Ryan said. "They're going to have to evolve this product to have to pass the test of regulators." Applying the tech model to finance UBS's Hawken said Robinhood "stubbed their toe pretty badly," but it's "not a mortal blow, it's a step back." "Clearly this is a company that's trying to apply the technology 'run fast and break things' approach to a highly structured and regulated industry," Hawken said. "Those two approaches are not necessarily congruent." Robinhood certainly fits that mold for high-growth. The company's free stock-trading model has ushered in 6 million users and a $5.6 billion valuation in its five-year existence. The company's model took Wall Street brokerages by storm by offering stock trading for free and has put pressure on incumbents like Charles Schwab and TD Ameritrade , which charge $4.95 and $6.95, respectively, for equity trades. That price war is still intensifying. J.P. Morgan Chase unveiled its own free trading app in August. Still, tech companies looking to disrupt banks and other areas of finance are dealing with an especially high bar. While Robinhood may not have been legally required to check in with SIPC before launching the product, it's more "sound practice," and what regulators have come to expect. "This isn't the way you're supposed to operate," Hawken said. "This is a cautionary tale for those that don't vet their new products with a regulator — you can hurt yourself from a perception standpoint, and you can end up with a little egg on your face."'

https://www.cnbc.com/2018/01/16/dramatic-stock-market-reversal-signals-more-volatility-ahead--.html

SCHW

Charles Schwab Corporation

Dramatic stock market reversal signals more volatility ahead

After a mostly one-way trade higher for weeks, Tuesdays' dramatic stock market reversal signals the potential for more choppy trading ahead. The Dow rocketed 283 points Tuesday, before erasing those gains and heading down 100 points. It later recovered and closed just 10 points lower at 25,792 after its most volatile day since Dec. 1 and on the first day it traded above 26,000. Traders blamed Washington for some of the selling as lawmakers appeared to be having difficulty agreeing to a spending resolution and on reports that former White House advisor Steve Bannon will testify in the Russia investigation. But while the focus was on Washington, traders also looked at the morning market surge Tuesday as another sign that the market was getting too frothy and overbought. "The healthiest thing would be some downward action for the next two or three sessions. Today you did have a somewhat bearish, outside reversal," said Scott Redler, partner with T3Live.com, who follows the market's short-term technicals. A reversal is when the market opens above a prior high and then closes below a prior low. "That happened in some sectors like small-caps. ... You can't get too bearish if you're still above the 8- and 21-day moving average," Redler said. Strategist Laszlo Birinyi on Tuesday said he expects a possible six weeks of consolidation and sideways trade, but he is not bearish on stocks. "Right now, the market is at the upper end of the trading range. It's 5 percent over its 50-day moving average, and those are areas where the market tends to digest, consolidate, take a breather but not go down," he said, as the market gyrated Tuesday. Steve Massocca, managing director at Wedbush Securities, said the market has clearly become fatigued after its sharp move higher. The S&P 500 is up 4 percent since the beginning of the year and crossed above 2,800 for the first time Tuesday before closing down 9 at 2,776. "We've had a pretty significant move. It's quite natural that this would be exhausted at some point. … A potential government shutdown is a handy excuse," he said. But a government shutdown Friday is not likely, said Dan Clifton, head of policy research for Strategas. "My overall view on this is they're preparing a temporary stop-gap measure. I just don't think we're going to shut down, but we're trying to buy time until there could be a larger spending package. It was very much companies that were influenced by government spending that were selling off. The market is saying there is some risk of a government shutdown," Clifton said. Massocca said the market also took the report on Bannon as a negative. "The stock market loves Donald Trump, so if Trump is going to get in trouble somehow, that's not good for the stock market," he said. "The policies that are being implemented by this administration are incredibly business-friendly, and if that were in danger of changing that would be a problem for the market." Analysts expect earnings season to be a positive for the market, and that's where the focus should turn as reports roll out in the next couple of weeks. Not only is the fourth quarter expected to be strong, but analysts anticipate positive comments from companies on how they will be affected by massive tax cuts. Earnings season is off to a strong start so far. Of the S&P 500 companies that had reported as of Friday, 69 percent have beaten earnings-per-share estimates while 85 percent have beaten revenue forecasts, according to FactSet. Bank of America , Goldman Sachs, US Bancorp and Charles Schwab are among the financial companies reporting earnings Wednesday morning. Alcoa and Kinder Morgan also report after the closing bell. There are a number of economic reports Wednesday, including the business leaders survey at 8:30 a.m. ET, industrial production at 9:15 a.m., the NAHB survey at 10 and the Treasury international capital flow data at 4 p.m. The Federal Reserve releases its beige book on the economy at 2 p.m. The market is also keeping an eye on the Bank of Canada, which is expected to raise interest rates Wednesday. "Our call is they hike tomorrow, and that they hike two more times this year," said Ben Randol, G-10 currency strategist with Bank of America Merrill Lynch. The U.S. dollar was lower Wednesday, and the dollar index is now down 1.8 percent year to date. Randol said the dollar has been trading on anticipation of other central bank tightening and that it should perk up. "Our call was in the big, broad brush strokes to see a dollar rebound in the first half of the year, and then see that fade as central banks reprice," he said. Randol said the repatriation of cash by corporations could increase the demand for dollars and that could pressure the greenback higher.

https://www.cnbc.com/2018/01/12/earnings-will-be-the-next-test-for-the-seemingly-unstoppable-30-trillion-stock-market.html

SCHW

Charles Schwab Corporation

Earnings will be the next test for the seemingly unstoppable $30 trillion stock market

Brendan McDermid | Reuters Earning season presents the next hurdle for stocks, and Wall Street's bull market is expected to leap right over it, with some help from tax reform. With little economic data expected in the coming week, earnings could be the main event for markets with many large financial institutions – such as Goldman Sachs , Bank of America, Citigroup and American Express – reporting. IBM also reports though tech companies will be dominating results later in the month. "The pivotal question is we will be getting guidance on tax reform. We know it's a positive, we just don't know how much," said Lori Calvasina, who heads U.S. equity strategy at RBC. The fourth quarter is the final quarter where corporations were subject to the 35 percent corporate rate, and now companies are expected to detail how the new tax law will affect them. "The risk is the net effect isn't as positive as expected," she said. watch now But Calvasina said she believes after studying the comments from more than 200 major companies, there still is not clarity from managements, and the impact on profits is not fully priced in, as a result. "There's probably more upside risk than downside risk," she said. Tax reform is one of the factors that has helped the stock market rally into the new year, and the bull still appears unstoppable early on in the earnings season. According to Bespoke, U.S. stock market value, measured by the Russell 3000, crossed $30 trillion for the first time Friday, and it is now up more than $6.5 trillion under President Donald Trump. The Russell 3000 represents about 98.5 percent of the U.S. market cap. The S&P 500 is up more than 4 percent since just the beginning of the year, having tagged on another 1.5 percent in the past week. The market has been lifted by expectations for a strong economy, and the prospect that earnings will be good and get even better, when the impact of new 21 percent corporate tax rate is factored in. Source: Bespoke Paul Hickey, co-founder of Bespoke, said he sees a warning sign in the earnings this season. "The pace of positive revisions to negative revisions haven't been higher than at any time in 10 years. That's a function of the tax bill," said Hickey. "This is the first quarter in 13 quarters when there's been more positive revisions in the month leading up to earnings than negative revisions." The concern is that analysts lowered the bar with reduced estimates, ahead of those other earnings reporting seasons, making it easier for stocks to realize an earnings pop, but this time, analysts are raising the bar. "Early on, in these reports, we want to see stocks reacting well, and so far its been pretty good. It's early," said Hickey, adding the real test will come when tech names report. Those have been the best performers of 2016, and the group as a whole is expected to see the least benefit from the tax bill. watch now For the fourth quarter, earnings are expected to grow by 12.1 percent, according to Thomson Reuters. Energy companies are expected to see the best profit growth, up nearly 140 percent, followed by materials, up 25 percent, according to Thomson Reuters. Financial companies are expected to see 13 percent earnings growth for the fourth quarter. Of the roughly two dozen companies that have reported so far, about three in four have beaten expectations. Calvasina said if earnings estimates are raised by 10 percent after companies reveal the impact of tax law changes, the price to earnings ratio would fall to 17.6 from about 19.4. "I don't think the tax is going to take market valuations and make them look cheap, but it's going to give us some breathing room," she said. Calvasina expects the S&P 500 to finish the year at 3,000. Like many analysts, she does see a pullback coming this year after barely a sell off last year. "I don't think an imminent pullback is coming. I think it's going to be later this year," she said. Even so, some traders are getting a bit anxious about the way the market has run higher. "There's a pain trade being created," said Scott Redler, partner with T3Live.com who follows the short term technicals. "Sometimes fast and furious markets might be great for statements and 401ks, but for traders, when you get a little extreme, it definitely creates anxiety and a little more stress than if you had a pause." 'When you're up six, seven, eight, nine days, it makes you feel like you're chasing, and as a trader it's harder to enter. You remember the prices you had a week ago," he said. "Traders are probably a little more anxious and frustrated than they were with the S&P 40 handles lower." On the economic front, there are a few reports in the week ahead. Industrial production is expected Wednesday, as is the Fed's beige book and Treasury international capital flow data is also due that day. Housing starts are Thursday, and consumer sentiment is Friday. What to Watch WATCH: Markets after the start of Q4 earnings season

https://www.cnbc.com/2014/01/16/guess-who-can-help-charter-win-time-warner-cable.html

CHTR

Charter Communications

Guess who can help Charter win Time Warner Cable?

Charter Communications and Time Warner Cable have taken off their gloves in a battle for one of the country's largest cable networks. But investors should not lose sight of the muscle behind the scenes—media mogul John Malone. After several months of private approaches, Charter Communications went public earlier this week with a $38 billion offer for TWC accompanied by a 29-page slide deck criticizing its ineffective strategies. TWC struck back Wednesday with a detailed presentation of its own, accusing Charter Communications of trying to steal the company with a bid below historical deal multiples. John Malone David Paul Morris | Bloomberg | Getty Images Charter also remains on the hunt for ways to pad its offer. The company on Wednesday approached Comcast, which owns CNBC parent NBC Universal, asking if it wanted to purchase some of TWC's regional operations and subscribers, according to a person familiar with the matter. The person added that such a transaction could occur after Charter completes a deal of its own, but the talks remain "very early." Notably quiet but another potential partner is Malone's Liberty Media , which owns 27 percent of Charter. Malone, an industry pioneer who once built TCI into a cable giant, has been a vocal advocate of cable consolidation and is effectively using his investment to bet on his thesis. Liberty hasn't committed to investing more money in Charter but views it as an option, according to a person familiar with the matter. Such additional cash could come in handy very soon. Consider the current offer of $133.60 per share, which includes $82.54 in cash and the remainder in Charter shares. To get the deal done, Charter will probably need to get a bit closer to the $160 that TWC wants and increase the percentage of cash. Unfortunately, the current offer will already give the combined company net debt of five times earnings before interest, taxes, depreciation and amortization. Investment bankers say Charter could probably borrow more money to sweeten its offer, even without Malone's participation. But relying on much more leverage would be risky. Comcast , for instance, has leverage of about two times. A better solution would be for Malone to purchase more Charter shares. That would allow Charter to increase the cash component of its offer and keep leverage at a reasonable level. (Read more: Beats launches streaming music service) watch now

https://www.cnbc.com/2023/12/26/2024-year-of-streaming-bundle.html

CHTR

Charter Communications

2024 is shaping up to be the year of the streaming bundle

The atmosphere at the Disney Bundle Celebrating National Streaming Day at The Row in Los Angeles on May 19, 2022. This year proved to be yet another tough one for pay TV, as more people cut the cable cord. But it wasn't exactly kind to streaming services, either, as platforms dealt with subscriber declines, slumping ad revenue and stubborn losses while Netflix continued to assert its dominance. Still, the age of the cable bundle is giving way to the era of a new kind of bundle that could give both streamers and cable providers a path forward. Media executives told CNBC this month that 2024 could finally be the year that media companies get serious about the bundle. "The Charter-Disney deal was a sign of the times," said Macquarie analyst Tim Nollen. Disney and cable giant Charter Communications battled over fees during the lead-up to the National Football League season, with Charter CEO Chris Winfrey saying it wasn't "a typical carriage dispute." Disney-owned channels, including ESPN, ceased broadcast for millions of customers of Charter's Spectrum service for nearly two weeks. The blackout ended in September, hours before "Monday Night Football" was set to kick off on ESPN, with a deal that gave Spectrum TV Select Plus subscribers access to the ad-supported tier of Disney+, as well as ESPN+. Similar arrangements could well emerge in 2024, given the broad subscriber bases and positive revenue implications for pay TV and broadband companies, Nollen added. Liberty Media Chairman and cable TV pioneer John Malone, who's also on the board of Warner Bros. Discovery, earlier this year predicted more integration of streaming services into cable bundles. Mergers and acquisitions would also lead to more bundling. Paramount CEO Bob Bakish and Warner Bros. Discovery CEO David Zaslav met last week to discuss a possible merger of the two companies, although talks are in early stages. Despite the demand for a streaming bundle, top players have historically been apprehensive to make such a deal. Companies would have to navigate the calculus of average revenue per user, or ARPU, and subscriber growth when offering their services at a discount.

https://www.cnbc.com/id/100816661

CHTR

Charter Communications

Charter Communications Reviewing Acquisition Targets

Cable company Charter Communications and its 27-percent shareholder Liberty Media have been aggressively reviewing potential acquisition targets as they focus on how to consolidate the cable industry. But while Charter has made an overture to Time Warner Cable and rumors are swirling in the industry, the company has not yet figured out what deal, if any, it would make. A few weeks ago, Liberty's CEO Greg Maffei discussed the idea of the far smaller Charter entering a merger of equals with Time Warner Cable in a face-to-face meeting with that company's CEO, Glenn Britt. Maffei said no offer was made and the two men, who speak with some frequency, spoke generally about cable consolidation. Sources close to Time Warner Cable said the company indicated it had no interest in any sort of a linkup with Charter, believing that it was simply an attempt by Charter to use Time Warner's balance sheet along with its own high multiple stock to pursue a deal that did not make financial sense.

https://www.cnbc.com/2023/12/19/analyst-calls-all-the-market-moving-chatter-from-wall-street-tuesday-morning.html

CHTR

Charter Communications

Tuesday's analyst calls: Solar upgrades, Jefferies highlights pet stock with big upside

(This is CNBC Pro's live coverage of Tuesday's analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) Early analyst calls on Tuesday included upgrades to two solar names and a pet stock getting a buy rating from Jefferies. Piper Sandler raised its rating on Sunnova and Sunrun to overweight from equal weight, citing in part the potential for Federal Reserve rate cuts. Meanwhile, Jefferies initiated coverage of Elanco on a positive note , saying key catalyst can lift the stock. Check out the latest calls and chatter below. 8:44 a.m. ET: Coinbase stock can jump another 30%, Compass Point says Investors buying in to the recent rally for Coinbase should be rewarded with fundamental improvements at the crypto company, according to investment firm Compass Point. Analyst Chase White reiterated a buy rating on Coinbase and hiked his price target on the stock to $200 per share from $145, saying in a note to clients that the rise in crypto prices should create real benefits for the crypto exchange. "The rise in crypto asset prices should benefit COIN's staking-as-a-service business given that COIN collects a portion of the staking yield, paid in native tokens (such as ETH or SOL), as a fee for providing the service. Looking ahead, we expect crypto trading volumes in general to continue to increase into 2024 as both retail and institutional investors begin to anticipate lower interest rates and increased liquidity," the note said. The crypto industry is still stuck in limbo on several regulatory fronts, but one recent development at a rival exchange could help Coinbase, according to Compass Point. "We also expect COIN to be able to take both spot and derivatives market share from Binance given the latter's reputational troubles in the wake of its $4.3B settlement with various US govt agencies, though the full magnitude of this uplift has yet to be see," the note said. The stock price of Coinbase has nearly doubled since the end of October. Compass Point's new price target is about 30% above where Coinbase shares closed on Monday. — Jesse Pound 8:42 a.m. ET: MoffettNathanson names Charter a top 2024 pick MoffettNathanson named Charter Communications a top pick for 2024, citing expected growth in Charter's wireless business and its valuation, the firm said Tuesday. While big telecoms may be facing capacity challenges, cable's wireless busines is not capacity constrained, analyst Craig Moffett said in a note. Meanwhile, Charter's broadband average revenue per user is the industry lowest, leaving them more room to grow, he wrote. "Their current broadband growth rate is restrained by their first-year-free wireless Spectrum One offer (for which GAAP accounting requires the discount be allocated between broadband and wireless proportionately). That headwind will be reduced sharply in Q4, and turn into a tailwind by the end of 2024," Moffett said. Shares of Charter are up about 13% year to date. — Michelle Fox 8:40 a.m. ET: Snack maker Utz could gain 17%, says Barclays Barclays is bullish on salty snack producer Utz . The company's analyst day on Friday showed its sustainable productivity and ahead-of-the curve growth, according to analyst Andrew Lazar. Lazar raised his price target on shares by $2 to $18, implying 17.2% upside potential from Monday's close. He reiterated his overweight rating on the stock. Shares were last up by more than 5% Tuesday before the bell. "Since its de-SPAC/IPO, we have viewed UTZ as an idiosyncratic growth story within our packaged food universe based on differentiated growth underpinned by category exposure, white space opportunity and a sizable gap in margins to other major snacking players," Lazar wrote in a Monday note. Lazar also believes Utz —a 100-year old family-operated company that only recently went public — has a significant margin opportunity ahead. "UTZ has not yet invested as much behind its productivity and asset optimization efforts as many other companies in the packaged food space have, and, as a result, currently yields [an] EBITDA margin of just under 13%, well below the current peer median of ~19%," said the analyst. He is confident in the company's supply chain plan, which he says could reduce its overall costs. "We think the company is making great progress and would emphasize that even once the company reaches its 16% EBITDA margin in 2026, we still see ample room for further margin improvement thereafter given where close in peers currently operate," said Lazard. 8:28 a.m. ET: Loop Capital increases Snap price target on AI opportunity, rebound in advertising Snap could emerge as a premier artificial intelligence play among social media companies, according to Loop Capital. The firm reiterated a buy rating on Snap and increased its price target to $21 from $15, or about 23% above Monday's close. Shares have surged more than 90% from the start of the year. "We are more confident in the turnaround in Snap's advertising business and increasingly view the company as a gen-AI winner," managing director Rob Sanderson said. "Last week Snap introduced several new gen-AI features to Snapchat+ member base and disclosed that paid members now exceed 7M, a notable acceleration in adoption." Sanderson added that the company could see as much as 14% ad revenue growth in 2024 and 20% in 2025 while Snapchat+ paid subscribers grows to 16.5 million over the next two years. — Brian Evans 8:13 a.m. ET: Bank of America sticks with buy rating on Citi despite investor skepticism Citigroup CEO Jane Fraser's turnaround plan is showing signs of process, but many investors still aren't buying in, according to Bank of America. Analyst Ebrahim Poonawala said in a note to clients that recent conversations with investors revealed a wait-and-see approach with Citi. "Justified or not, we sense a lack of investor conviction in top leadership (CEO/CFO) as investors remains skeptical on the prospects of mgmt. landing on its medium-term (2026) 11-12% return on tangible common equity (ROTCE) target. Part of the skepticism stems from the failures of prior leadership, 'burnt too many times,'" the note said. "While mgmt. messaging has room to improve, in our view, CEO Fraser moving in the right direction with regards to de-risking and simplifying the franchise." Poonawala has a buy rating on Citi, and said that the stock is currently priced like the turnaround will come up short of expectations. "At current valuation we don't believe that the stock is discounting much in terms of the potential for Citi to deliver 10%+ ROTCE on a sustainable basis," the note said. — Jesse Pound 7:52 a.m. ET: Buy these two consumer stocks for the new year, Baird suggests Baird likes Yeti and Mister Car Wash for 2024. Analyst Peter Benedict listed the two consumer product and service stocks as top picks heading into the new year. He has outperform ratings on both. Benedict's price targets imply Yeti shares can climb 15.4%, while Mister Car Wash can jump 22.7%. "Much like the one just ending, 2024 looks to be a year where shifting macro narratives will compete with company-specific fundamentals for control over retail/consumer stock performance," Benedict told clients. "Net, our 2024 top ideas ... lean heavily on idiosyncratic P & L drivers which we believe can cut through the macro noise and drive attractive upside for investors," he added, using an acronym for profit and loss. Benedict said the sector's recent rally feels "somewhat extended." But he said the group can see positive performance amid investor optimism that the Federal Reserve will cut interest rates. Yeti has multiple growth opportunities and a profit-and-loss inflection point on the horizon, the analyst said. He added that the company has a "robust" financial profile while trading at a valuation discount to similar growth stocks. Mister Car Wash has "best-in-class" performance indicators, Benedict said. He noted that the company's "Titanium" wash is a multiyear profit-and-loss catalyst. — Alex Harring 7:27 a.m. ET: Chewy has 'compelling' risk-reward profile, says Jefferies Pet e-commerce company Chewy is "a tail-wagging opportunity," according to Jefferies. The firm initiated coverage with a buy rating and $27 price target, implying nearly 25% upside potential from Monday's close. Analyst Kaumil Gajrawala believes the company will benefit from increasing pet e-commerce penetration, as well as premiumization of pet food, treats, and supplies. To be sure, he is somewhat cautious due to the pressures of high inflation on consumers — but notes that Chewy currently appears insulated. "Pet ecommerce pure-play with several growth & margin levers at its disposal. Pet health, ads biz, and automation are near-term drivers, but wide goalposts and ongoing cost pressures create a fluid timeline," Gajrawala wrote in a Monday note. "Reset expectations (shares 50x FY2 EBITDA 1YA to 21x today) offer a compelling risk-reward." Shares jumped more than 2% on Tuesday during premarket trading. Nonetheless, the stock has significantly underperformed in 2023 and is down by more than 41% year to date. — Hakyung Kim 7:12 a.m. ET: Barclays upgrades Adobe to overweight after canceled Figma deal Barclays is more bullish on Adobe shares after the company called off its acquisition of Figma. Adobe and Figma terminated their $20 billion merger due to regulatory issues on Monday. Analyst Saket Kalia upgraded shares to overweight from equal weight in a Monday note following the cancellation of the deal. Kalia increased his price target to $700 from $680, suggesting shares could rally nearly 17% from where they closed on Monday. "Implied dilution has kept us on the sideline since deal announcement - now that this overhang is lifted, we think upside to estimates and more optionality in Firefly could support this multiple," Kalia said. This was his primary "sticking point," he added. With the Figma acquisition now out of the picture, Kalia believes Adobe is on pace for continued outperformance. The analyst also reiterated that the company is a "best-in-class software franchise," with more benefits ahead through its generative AII story. "We think it is still early innings on Gen AI, with optionality around Adobe Express, improving retention rates as Gen AI drives more engagement, and we have not seen Gen AI impact Document Cloud yet where there could be more opportunity to monetize," said Kalia. — Hakyung Kim 6:54 a.m. ET: Morgan Stanley raises Macy's price target The bank raised its price target on Macy's to $21 per share from $15, calling it a likely floor for the stock. Morgan Stanley also kept its equal weight rating on shares. The increase come after reports earlier this month said Arkhouse Management and Brigade Capital had offered to buy out the retailer for $5.8 billion. "While the reported bid overhang is outstanding, & with a likely better-than-feared Softlines Retail 4Q/holiday ahead (more here), we think M stock is unlikely to return to its $17 pre-rumored offer level near term," Morgan Stanley analyst Alex Straton wrote. " Macy's shares have surged 26% in December. M YTD mountain M in 2023 — Hakyung Kim 6:33 a.m. ET: Deutsche is bullish on Yum China Despite a cautious view on China's restaurant industry, Deutsche Bank believes Yum China is an overlooked name with potential to outperform. The firm initiated coverage on Yum China with a buy rating and $58 price target on shares. The price target suggests shares could rally 45% from Monday's close. "We think the market has fully priced in near-term ticket-size pressure amid macroeconomic uncertainties and local Western fast food brands picking up, but has overlooked the company's margin uptrend in the coming few years on the back of YUMC's strong product portfolio, flexible store models, and lower-tier city penetration," analyst Han Zhang wrote. Zhang said he is cautiously bullish on the company's revenue over the next two years, as Yum China continues to expand stores nationwide. Shares are down nearly 27% in 2023. Zhang thinks the stock is trading at an "undemanding" valuation; Yum China is trading at 19 times its 2024 price-to-earnings ratio, versus its other global peers trading at 25 times price-to-earnings ratio. YUMC YTD mountain YUMC in 2023 — Hakyung Kim 6:07 a.m. ET: TD Cowen names its top solar energy picks First Solar and Shoals Technologies are TD Cowen's top utility solar ideas for 2024. "We highlight residential solar fundamentals continue to deteriorate while U.S. utility scale remains more resilient," analyst Jeffrey Osborne wrote in a Tuesday note. "U.S. utility fundamentals appear more encouraging based on our review of satellite imagery data and a healthy pipeline, which supports FSLR and SHLS." TD Cowen has an outperform rating on both First Solar and Shoals Technologies. Osborne's $250 price target on First Solar implies a 48% rally from where shares closed on Monday. Meanwhile, his price target of $30 on Shoals Technologies indicates shares could surge 90%. To be sure, Osborne expects volatility in the solar sector will continue next year despite the Federal Reserve's indication of three rate cuts to come. Election cycles have also historically "soured" investor sentiment on the solar space, according to the analyst. First Solar shares are up 10.8% year to date, while Shoals is down 36%. — Hakyung Kim 5:57 a.m. ET: JPMorgan downgrades PepsiCo PepsiCo has had a strong record, but JPMorgan thinks some normalization may be ahead for the stock. Analyst Andrea Teixeira downgraded shares to neutral from overweight. Teixeira also reduced the price target on shares to $176 from $185, implying 9.5% upside from Monday's close. "We don't see anything fundamentally wrong with PEP and continue to have confidence that the company is well positioned to deliver on its 2024 outlook," Teixeira said. "That said, we see the magnitude of upward estimate revisions as narrowing and see better opportunity within Beverages for OW-rated KO and KDP, which we expect to have a higher quality composition of top-line growth in CY24 and also don't have the narrative overhang," she added. The company has also faced earnings headwinds, in absolute terms, from a strong dollar in the past few years, the analyst noted. The stock dipped 0.6% Tuesday before the bell. Shares are down more than 6% year to date. — Hakyung Kim 5:37 a.m. ET: Piper Sandler upgrades Sunnova, Sunrun Renewable energy companies Sunrun and Sunnova could benefit from the Federal Reserve's "pivot," according to Piper Sandler. The firm upgraded shares of the two solar companies to overweight from neutral. Analyst Kashy Harrison thinks the three rate cuts the Fed indicated at its last policy meeting could be a key theme for the two solar companies. The renewable energy sector is highly sensitive to rates, meaning that Sunrun and Sunnova have struggled this year and are down 24.9% and 26.9%, respectively. RUN NOVA YTD mountain RUN and NOVA in 2023 "While the Fed pivot is undoubtedly positive, it is no ex-machina for all of our coverage's 2023 challenges and some sub-sectors benefit more than others. We view the resi installers as the largest/immediate beneficiaries of lower rates," Harrison wrote, referring to the two companies. Harrison raised her price target on Sunnova shares to $26 from $13, suggesting shares could essentially double from Monday's close. She also increased her price target on Sunrun to $31 from $15, implying nearly 72% upside potential. "With lower rates, we expect equity appreciation given asset valuation sensitivity to rates," Harrison added. — Hakyung Kim 5:37 a.m. ET: Jefferies says buy Elanco The firm initiated coverage of the pets pharmaceutical stock with a buy rating and a price target of $17, implying upside of 24% over the next 12 months. Elanco shares have lagged the broader market this year, rising just 11.9% in that time, while the S & P 500 is up 23.5%. However, analyst Glen Santangelo thinks potential "blockbuster launches, coupled w/improving execution, creates an attractive setup into '24 against backdrop of a discounted valuation." "We see ELAN entering 2024 w/ increased optimism given a multitude of impending product launches (Zenrelia, Credelio Quattro, Bovaer)," he said. Zenrelia is a product used in canine dermatology, while Credelio Quattro fights off ticks and kills fleas. Bovaer is a cow feed that looks to reduce methane emissions. "We expect this pipeline to bolster the recent inflection to growth and are encouraged by mgmt's commitment to growth in 4Q and 2024," Santangelo said. "[Long-term] we think these launches could improve the product mix ... driving both rev growth and margin expansion." — Fred Imbert

https://www.cnbc.com/2023/12/05/3-stocks-could-rally-by-50percent-analysts-say-despite-big-jumps-this-year.html

CHTR

Charter Communications

These 3 stocks could rally by another 50%, analysts say, despite big jumps this year

Three stocks — Liberty Broadband , U.K.'s BT Group and JD Sports Fashion — have risen by double-digit percentages this year. But investors shouldn't fear missing out on those gains as Wall Street analysts forecast another 50% jump in share prices over the next 12 months. CNBC Pro screened the MSCI World Index, which includes about 1,500 companies in several developed markets, for stocks that had a positive return this year and continued to have more than 50% upside potential. Subscribers can screen for stocks at any time using the new CNBC Pro Stock Screener . The table below shows the stock performance and forecast for the three stocks identified. Liberty Broadband Liberty Broadband is a telecommunication holding company that has an ownership interest in Charter Communications, the second-largest cable operator in the United States. It also has an interest in market research firm Comscore and GCI, an Alaska-based telecommunications firm. The consensus price target of analysts polled by FactSet points to a 55% upside potential for Liberty Broadband shares from the current share price of $82. Deutsche Bank views Liberty Broadband as an attractive way to invest in Charter, estimating it trades at a 32% discount to net asset value (NAV). Analysts at the investment bank have a more conservative price target of $108 a share, representing a 30% upside potential. LBRDK YTD line Deutsche Bank analysts Bryan Kraft and Benjamin Soff explained in a note to clients on Nov. 5 that they saw an opportunity for "the NAV discount to decrease over time and perhaps eventually be eliminated through potentially collapsing the CHTR-LBRDA ownership structure, albeit with some of the discount likely to be shared with CHTR shareholders." BT Group The stock of BT, a U.K.-based telecommunications company, jumped 10% this year. But Morgan Stanley believes there is much more upside, thanks to BT's undervalued broadband network arm, Openreach. "As Openreach executes on its fibre build and the competitive landscape improves, there could be a significant re-rating opportunity," said Morgan Stanley analysts led by Terence Tsui. "We believe BT shares have long looked cheap, " the analysts said, adding that the stock is priced at just 6.6 times estimated earnings for March 2025. BT.A-GB YTD line Their price target of 220 pence implies an additional 79% share price increase over the next year from the current share price of 123 pence. U.K. shares are generally priced in pence, with 100 pence equal to one British pound ($1.27). JD Sports Fashion Although shares of JD Sports, a U.K.-headquartered sportswear retailer, have risen by 25% this year, analysts at investment banks are predicting 50% upside for the stock over the next 12 months. The company runs more than 3,000 retail outlets across Europe and North America. JD announced plans in 2021 for a new facility in Derby, U.K., that will handle most online orders. The following year, the company opened a larger facility in Heerlen, Netherlands, to serve as the company's primary European distribution hub. Those upgrades are "key to moving towards double-digit European margins," Investec analyst Kate Calvert said in a note to clients on Nov. 22. Calvert also believes that concerns about a slowdown in retail are overblown, saying that "the valuation is very undemanding" for a business well positioned to deliver double-digit growth under its five-year strategic plan. Investec backed its analysis for the retail sector using third-quarter updates from Dick's Sporting Goods and Hibbett in the U.S. that showed the sporting goods category remains robust. Both companies raised full-year guidance on expectations of a strong holiday season. JD.-GB YTD line — CNBC's Michael Bloom contributed to this report.