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Santoli’s Wednesday market notes: Could September’s stock shakeout tee up strength for the fourth quarter?
https://www.cnbc.com/2021/09/29/santolis-wednesday-market-notes-could-septembers-stock-shakeout-tee-up-strength-for-the-fourth-quarter.html
2021-09-29T17:09:39+0000
Michael Santoli
CNBC
This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.
cnbc, Premium, Articles, Investment strategy, Markets, Investing, PRO Home, CNBC Pro, Pro: Santoli on Stocks, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1632934691
<div class="group"><p><em>This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.</em></p><ul><li>A muted, inconclusive bounce that has left the indexes fully within yesterday's low-to-high range all morning so far.</li></ul></div>
This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.A muted, inconclusive bounce that has left the indexes fully within yesterday's low-to-high range all morning so far.
2021-10-30 14:11:23.709372
My take on the early Brexit winners and losers
https://www.cnbc.com/2016/06/24/ian-bremmers-take-on-the-early-brexit-winners-and-losers-commentary.html
2016-06-24T13:50:48-0400
null
CNBC
This commentary originally ran on Facebook. Boris Johnson – The former London mayor and grudging "Leave" supporter-turned enthusiastic "Leave" leader chose the winning side. He's now a front-runner to lead the Tory party. ‪#‎HellFreezesOver‬ Theresa May – Boris Johnson's populist approach to the Brexit campaign ticked off quite a few Tory elders, so the real money should be on UK Home Secretary Theresa May to succeed outgoing Prime Minister David Cameron. May is a political heavyweight and is generally respected among the Tories, something Boris Johnson is … um, not. Nigel Farage – the once-embattled UK Independence Party leader gets his moment in the sun. Also gets to keep having a political career. And the fact that he quoted "Independence Day" in his victory speech made a crazy night that much crazier. Marine Le Pen/Geert Wilders – Charismatic figures with a long history agitating for EU exits, France's Marine Le Pen and the Netherlands' Geert Wilders wasted no time calling for their own referendums. Brexit legitimizes their years of saber-rattling, and moves them from the political fringes into the mainstream, where they can do serious damage to the European project. Vladimir Putin – Russia's strongman needed this. Low oil prices have leveled the Russian economy, and the International Olympic Committee has banned Russian track athletes from competing at ‪#‎Rio2016‬. But now he gets to say "at least we're not Europe." Nicola Sturgeon – The head of the Scottish National Party delivered on her end from Scotland, where 62 percent of Scots voted to "Remain," though turnout wasn't as high as hoped. She now has political leverage by threatening to hold another Scottish referendum. And if Scotland leaves, the British drought at Wimbledon gets retroactively reinstated. German/US relations – Going to get stronger. By default. David Cameron – The man called the referendum to keep Euroskeptic Tories from defecting to the UK Independence Party camp in last year's parliamentary election. That turns out to have bought him an extra year in 10 Downing Street. Hope it was worth it, David. ‪#‎KarmaIsABitch‬ British pollsters – whiffed on the Scottish referendum. Whiffed on last year's parliamentary elections. Whiffed on the Brexit referendum. We were better off flipping a coin. Alexis Tsipras – when the Greek Prime Minister held a referendum on whether the Greek people should sign a deal for more austerity, he just ignored the results. The fact that Cameron actually fell on his referendum sword makes Tsipras look silly. Oh, and Grexit is now a real possibility now that the precedent has been sent. Labour Party Leader Jeremy Corbyn – Pundits have pointed to Labour's particularly poor showing to get out the vote as a key reason why the "Remain" side failed to win. And Jeremy Corbyn just failed in his first real test as Labour leader. Labour has some soul-searching to do, though it feels like we say that after every election. German Chancellor Angela Merkel – Brexit is now yet another problem for Europe (read: Merkel) to deal with. As if she didn't have enough to worry over. The British pound sterling – As the pound fell to levels not seen since 1985, maybe the first time ever that the British wish they had adopted the euro. London's financial sector – Despite the UK's long-fraught relationship with the EU, it was clearly a net benefit for London's financial sector, which could lay claim as the financial center of Europe. Much harder to do that when you've announced to the world you no longer want to be part of "Europe." Look for Frankfurt to pick up the slack. Donald J. Trump – Would have made him a winner, except he arrived in Scotland and announced that the Scottish "took their country back." So many things factually incorrect in that one statement I don't even know where to begin. Still, Brexit shows that divisive politics has an audience, which could bode well for The Donald. Commentary by Ian Bremmer, the president and founder of Eurasia Group. He is also a professor at New York University and the author of "Superpower: Three Choices for America's Role in the World." Follow him on Twitter@ianbremmer. For more insight from CNBC contributors, follow @CNBCopinion on Twitter.
Articles, Politics, Europe News, European Central Bank, S&P 500 Index, U.S. Markets, Commentary, Brexit, US Economy, stocks, Wall Street, World Economy, Markets
https://fm.cnbc.com/appl…FMUL.720x405.jpg
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2021-10-30 14:11:23.820139
Europe&#039;s recovery depends on Renzi&#039;s Italy
https://www.cnbc.com/2014/03/25/europes-recovery-depends-on-renzis-italycommentary.html
2014-03-25T13:29:45-0400
null
CNBC
In spring, ambitious reforms began in Italy. Under Matteo Renzi, the ailing economy will either begin a real recovery, or slide further. The outcome is vital to Italy, Europe and the global economy. Soon the name of Matteo Renzi, the new prime minister of Italy, will be known better internationally, after his meetings with German Chancellor Angela Merkel and President Obama. Along with French President François Hollande, the two know only too well what's at stake in Italy's recovery. If it succeeds, the recovery of the euro zone will slowly continue. If not, the implications will be global. The reform drive of il Rottamatore One year after being sworn in as Mayor of Florence in 2009, Matteo Renzi declared that a complete change was necessary in his Democratic Party and Italian politics. So he was nicknamed il Rottamatore ("The Scrapper"). Last February, the 39-year-old Renzi became the youngest person in history to be Italy's Prime Minister — even younger than Mussolini. (Read more: France to ply China with wine) But can the Great Scrapper reverse Italy's economic decline? First, the good news: In the end of 2013, only two months before Renzi arrived in Rome, the longest recession in Italy's postwar history ended. The bad news is that, after nine consecutive quarters of negative growth, the economy is almost 10 percent smaller than before the crisis. Meanwhile, business continues to complain about the tax burden, and the unemployment rate has doubled to over 12 percent since 2007. Despite pledges of austerity in Brussels and Rome, Italy's fiscal deficit is 3 percent of the GDP and its sovereign debt has climbed to more than 132 percent of the gross domestic product (GDP). Among the EU members, only Greece has more. The only bright spot is the current account surplus, which is almost 1 percent of the GDP. The positive turn stems from a higher contribution from net exports, coupled with a decline in imports. Nonetheless, it will be hard for Italian exporters to sustain their performance in the near future. The economy suffers from a de facto process of de-industrialization. Industrial production has not increased ever since August 2011 and is now down 25 percent from its peak. Credit contraction weighs heavily on business confidence and consumer sentiment. Ambitious programs — on a monthly basis Today, Renzi's Democratic Party, Partito Democratico (PD), has its strongest constituencies in Northern-Central Italy and the big cities. PD runs 12 Italian regions out of a total of 20. It is social-democratic, progressive by outlook, reformist by inclination. Renzi himself is perceived as a liberal modernizer. When he became prime minister, it was a sign of much-needed generational change in the aging Italy, in which potential growth amounts to barely 0.8 to 1 percent in the coming years. (Read more: Russia's next step: Capitol controls?) Italy needs huge structural and institutional reforms. Renzi hopes to reverse the country's longstanding decline by launching one large project every month, starting with a new electoral law to consolidate political decision-making, reforms in the public administration, and the tax system. Even before Italy's European Council presidency will begin on July 1, 2014, Renzi hopes to achieve on a monthly basis what Rome's political class has failed to achieve in decades. After Berlusconi's rule, he sees Italy's political landscape as devastated. Even before his premiership, he suggested that Italy's parliamentarians should vote for their own removal. To become prime minister, Renzi politically maneuvered his predecessor Enrico Letta to resign. Nonetheless, Renzi's program will initiate the long-needed transformation of Italy. If this program will fall apart, the failure could push the economy deeper into the abyss. Slow recovery — or devastating depression In the past, the euro zone avoided a major crisis as long as friction points were restricted to small economies (e.g., Greece, Portugal, Ireland), which each accounted for less than 3 percent of the euro zone GDP. Everything changed in fall 2011 when the contagion effect reached Spain and Italy, which together account for almost 30 percent of the regional GDP. If, under these circumstances, Greece would have defaulted, it could have caused a contagion effect, particularly in Italy. That is why Greece has now received two bailouts (73 billion euros and 164 billion euros), is in talks about a third one (up to 20 billion euros) and more generous repayment terms. As long as Greece remains solvent, Italy and Spain will have time to restore sustained growth. (Read more: ECB's Weidmann says QE not out of the question) The Italian economy remains vulnerable, however. Standard & Poor's still has a negative outlook on the country's "BBB" rating. Even by 2016, Italian economic output is likely to remain nearly 7 percent below 2007 levels. It is suffering from a "lost decade." The stakes are massive. Italy continues to account for 5 percent of gross commercial long-term debt globally, although its population is less than 1 percent of the world total. While Brussels has demanded tough austerity programs, an exclusive focus on the latter would only make things worse in Italy. Instead, Renzi's government is likely to reduce its huge debt only slowly, but focus on a lower deficit. A failure to achieve progress would polarize Italy, destabilize Southern Europe and reduce global growth prospects. How Italy goes, so will the world go. — By Dan Steinbock Dan Steinbock is research director of International Business at India China and America Institute (USA), visiting fellow at Shanghai Institutes for International Studies (China) and in the EU-Center (Singapore). See also www.differencegroup.net.
Articles, Business News, Economy, Europe Economy, Employment, Commentary, Politics, source:tagname:CNBC US Source
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2021-10-30 14:11:23.854710
US Moves Closer to Becoming A Major Shareholder In GM
https://www.cnbc.com/2009/04/22/us-moves-closer-to-becoming-a-major-shareholder-in-gm.html
2009-04-22T19:49:03+0000
Michelle Caruso-Cabrera
CNBC
The US government is increasingly likely to convert a $13.4 billion loan to General Motors into common stock, sharply reducing the company's debt burden and giving taxpayers a major stake in the struggling auto maker, sources tell CNBC.
cnbc, Articles, General Motors Co, Business News, Transportation, Autos, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1354732729
<div class="group"><p>The US government is increasingly likely to convert a $13.4 billion loan to <strong>General Motors</strong> into common stock, sharply reducing the company's debt burden and giving taxpayers a major stake in the struggling auto maker, sources tell CNBC.</p></div>,<div class="group"><p>The move, which is still under discussion, is partly aimed at getting GM's bondholders and the United Auto Workers union to make more concessions and avert a possible bankruptcy filing, these sources said. The government is pressuring the UAW to make concessions on GM retiree health benefits. </p><div style="height:100%" class="lazyload-placeholder"></div><p>People involved in the talks caution that nothing has been decided yet. Officials from President Obama's auto task force and the UAW had no comment.</p><p>The US agreed to loan GM up to $13.4 billion in December provided the auto maker convinced bondholders and the UAW to accept much of what the company owes them in stock rather than cash. </p><ul><li><a href="https://www.cnbc.com/2009/04/09/New-York-Auto-Show-2009.html">Slideshow: What's new at New York Auto Show</a></li></ul><p>So far, both groups have balked. Both the union and bondholders are worried that if they accept stock, and the company goes bankrupt anyway, they will be left with nothing. </p><p>However, if the government converts its loan to equity, it signals to both groups that the White House will not let the company fail, and that the stock will eventually be worth something.</p><p>GM owes the UAW $20 billion for its retiree health care benefits, and it owes bondholders $27.5 billion. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Crucial to all of this: a new business plan for GM that reflects the current economic environment. That means fewer plants, fewer models, lower pay for union employees and a balance with far less, if any, debt. If that cannot be achieved, President Obama has said that forcing the company into bankruptcy is a strong possibility. </p><p>Previously, GM offered the bondholders 8 cents in cash, 16 and half cents in new debt, and 90% of the company's equity. It offered the union $10 billion amortized over 20 years, and $10 billion in preferred stock with a 9% interest rate. However, the auto task force told GM those offers were too generous because of the unprecedented and precipitous decline in auto sales. </p><p>Those previous offers were based on the assumption that auto sales would return to an annual pace of around 11 million cars. Thus far however, they have hovered around 9 million cars per year. </p><p>As CNBC reported more than a week ago, GM is planning to offer the bondholders no cash, no new debt, and only as much as 20% of the stock of GM, perhaps even as little as 10%. Again, negotiations are ongoing and nothing has been finalized. Terms of a possible offer could change on a daily or even hourly basis.</p><p>Reuters reports they are considering offering the unions only stock as well. If true, that would sit very poorly with the union, as it needs cash to pay for retiree health care benefits. Doctor visits and MRIs can't be paid for with stock. </p><p>However, the union retiree benefit plan does have some cash. GM had already paid them $10 billion out of $30 billion owed to them, late last year. Some argue that would justify paying the rest that is owed to them in stock, which down the road they could sell, and use to pay retiree health care benefits. </p></div>
The US government is increasingly likely to convert a $13.4 billion loan to General Motors into common stock, sharply reducing the company's debt burden and giving taxpayers a major stake in the struggling auto maker, sources tell CNBC.The move, which is still under discussion, is partly aimed at getting GM's bondholders and the United Auto Workers union to make more concessions and avert a possible bankruptcy filing, these sources said. The government is pressuring the UAW to make concessions on GM retiree health benefits. People involved in the talks caution that nothing has been decided yet. Officials from President Obama's auto task force and the UAW had no comment.The US agreed to loan GM up to $13.4 billion in December provided the auto maker convinced bondholders and the UAW to accept much of what the company owes them in stock rather than cash. Slideshow: What's new at New York Auto ShowSo far, both groups have balked. Both the union and bondholders are worried that if they accept stock, and the company goes bankrupt anyway, they will be left with nothing. However, if the government converts its loan to equity, it signals to both groups that the White House will not let the company fail, and that the stock will eventually be worth something.GM owes the UAW $20 billion for its retiree health care benefits, and it owes bondholders $27.5 billion. Crucial to all of this: a new business plan for GM that reflects the current economic environment. That means fewer plants, fewer models, lower pay for union employees and a balance with far less, if any, debt. If that cannot be achieved, President Obama has said that forcing the company into bankruptcy is a strong possibility. Previously, GM offered the bondholders 8 cents in cash, 16 and half cents in new debt, and 90% of the company's equity. It offered the union $10 billion amortized over 20 years, and $10 billion in preferred stock with a 9% interest rate. However, the auto task force told GM those offers were too generous because of the unprecedented and precipitous decline in auto sales. Those previous offers were based on the assumption that auto sales would return to an annual pace of around 11 million cars. Thus far however, they have hovered around 9 million cars per year. As CNBC reported more than a week ago, GM is planning to offer the bondholders no cash, no new debt, and only as much as 20% of the stock of GM, perhaps even as little as 10%. Again, negotiations are ongoing and nothing has been finalized. Terms of a possible offer could change on a daily or even hourly basis.Reuters reports they are considering offering the unions only stock as well. If true, that would sit very poorly with the union, as it needs cash to pay for retiree health care benefits. Doctor visits and MRIs can't be paid for with stock. However, the union retiree benefit plan does have some cash. GM had already paid them $10 billion out of $30 billion owed to them, late last year. Some argue that would justify paying the rest that is owed to them in stock, which down the road they could sell, and use to pay retiree health care benefits.
2021-10-30 14:11:24.261143
Trump: 'Mission accomplished' on 'perfectly executed' Syria strike
https://www.cnbc.com/2018/04/14/trump-mission-accomplished-on-perfectly-executed-syria-strike.html
2018-04-14T14:59:04+0000
Javier E. David
CNBC
null
cnbc, Articles, George W. Bush, Vladimir Putin, Donald Trump, Chemical weapons, Syria, Politics, Europe News, World News, US: News, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1532563655
<div class="group"></div>,<div class="group"><p>President Donald Trump hailed the U.S.-led intervention in Syria as "perfectly executed," adding that the military campaign to degrade <a href="https://www.cnbc.com/bashar-al-assad/">Bashar Assad's</a> chemical weapons capability had accomplished its goals.</p><p>Less than a day after U.S., British and French forces targeted suspected chemical weapons sites in retaliation to an attack that left dozens of civilians dead last week, Trump thanked the U.S. coalition partners.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Yet in an echo of former president <a href="https://www.cnbc.com/george-w-bush/">George W. Bush</a>, Trump used words that ultimately came back to haunt his predecessor, by pronouncing "Mission Accomplished." That characterization raised questions about whether Western forces would intervene again if Assad used chemical weapons again, or if the conflict escalated amid Russia's growing bellicosity.</p><p><a href="https://twitter.com/realDonaldTrump/status/985130802668294144?ref_src=twsrc%5Etfw&amp;amp;ref_url=https%3A%2F%2Ftwitter.com%2Frealdonaldtrump%2Fstatus%2F985130802668294144" target="_blank">"A perfectly executed strike last night. Thank you to France and the United Kingdom for their wisdom and the power of their fine Military. Could not have had a better result. Mission Accomplished!" Trump said in a Twitter post.</a></p><p>Defense Secretary James Mattis called the strikes a "one time shot" aimed at the Syrian government's chemical weapons infrastructure.</p><p>"Clearly, the Assad regime did not get the message last year," Mattis told reporters on Friday from the Pentagon.</p><p>"Together we have sent a clear message to Assad and his murderous lieutenants that they should not perpetrate another chemical weapons attack for which they will be held accountable."</p><div style="height:100%" class="lazyload-placeholder"></div><p>Back in May 2003, Bush prematurely declared the Iraq war as being over, in the wake of U.S. forces successfully toppling the government of Saddam Hussein. The event, staged on a U.S. bomber under a massive banner that screamed "Mission Accomplished," overshadowed the years of conflict and bloodshed that followed.</p><p>In a briefing on Saturday, Pentagon officials also <a href="https://www.cnbc.com/2018/04/14/syrian-military-strikes-were-successful-pentagon-says.html">described the Syria bombing as having successfully accomplished its goals</a>. </p><p>Trump's declaration came as Moscow, which is backing Syria in its long civil conflict, has denounced the bombing campaign with undisguised contempt. In the wake of Friday's strike, Russia's ambassador to the U.S. warned of "consequences," while Russian President <a href="https://www.cnbc.com/vladimir-putin/">Vladimir Putin</a> reportedly <a href="https://www.thesun.co.uk/news/6050462/russia-syria-bombings-response-chemical-attack-vladimir-putin/" target="_blank">called the intervention an "act of aggression."</a><br></p><p><em>--CNBC's Amanda Macias contributed to this article.</em></p></div>
President Donald Trump hailed the U.S.-led intervention in Syria as "perfectly executed," adding that the military campaign to degrade Bashar Assad's chemical weapons capability had accomplished its goals.Less than a day after U.S., British and French forces targeted suspected chemical weapons sites in retaliation to an attack that left dozens of civilians dead last week, Trump thanked the U.S. coalition partners.Yet in an echo of former president George W. Bush, Trump used words that ultimately came back to haunt his predecessor, by pronouncing "Mission Accomplished." That characterization raised questions about whether Western forces would intervene again if Assad used chemical weapons again, or if the conflict escalated amid Russia's growing bellicosity."A perfectly executed strike last night. Thank you to France and the United Kingdom for their wisdom and the power of their fine Military. Could not have had a better result. Mission Accomplished!" Trump said in a Twitter post.Defense Secretary James Mattis called the strikes a "one time shot" aimed at the Syrian government's chemical weapons infrastructure."Clearly, the Assad regime did not get the message last year," Mattis told reporters on Friday from the Pentagon."Together we have sent a clear message to Assad and his murderous lieutenants that they should not perpetrate another chemical weapons attack for which they will be held accountable."Back in May 2003, Bush prematurely declared the Iraq war as being over, in the wake of U.S. forces successfully toppling the government of Saddam Hussein. The event, staged on a U.S. bomber under a massive banner that screamed "Mission Accomplished," overshadowed the years of conflict and bloodshed that followed.In a briefing on Saturday, Pentagon officials also described the Syria bombing as having successfully accomplished its goals. Trump's declaration came as Moscow, which is backing Syria in its long civil conflict, has denounced the bombing campaign with undisguised contempt. In the wake of Friday's strike, Russia's ambassador to the U.S. warned of "consequences," while Russian President Vladimir Putin reportedly called the intervention an "act of aggression."--CNBC's Amanda Macias contributed to this article.
2021-10-30 14:11:24.489490
Chevron CEO Watson says he supports Trump on tax reform
https://www.cnbc.com/2017/03/07/chevron-ceo-watson-says-he-supports-trump-on-tax-reform.html
2017-03-07T23:07:14+0000
Lauren Thomas
CNBC
Chevron Chief Executive John Watson told CNBC Tuesday that he "strongly supports U.S. tax reform" under President Donald Trump's administration. Trump's administration wants to make U.S. tax reform competitive, Watson said during an interview on CNBC's "Closing Bell." Specifically he discussed a proposed bill — a border-adjustment tax — that could hike rates on American imports. Despite concerns that a border tax could hurt oil prices, Chevron's Watson said industry imports would "come into balance" over time. "The unpredictable effects of the U.S. dollar strengthening is what concerns a lot of people," he explained.
cnbc, Articles, White House, Oil and Gas, Chevron Corp, Donald Trump, Business, Exxon Mobil Corp, Business News, Closing Bell, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1529470185
<div class="group"><p><a href="//www.cnbc.com/quotes/CVX" target="_blank">Chevron</a> Chief Executive John Watson told CNBC Tuesday that he "strongly supports U.S. tax reform" under President <a href="https://www.cnbc.com/donald-trump/">Donald Trump</a>'s administration. </p><p>Trump's administration wants to make U.S. tax reform competitive, Watson said during an interview on CNBC's "<a href="https://www.cnbc.com/closing-bell/">Closing Bell</a>." Specifically he discussed a proposed bill — a border-adjustment tax — that could hike rates on American imports. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Despite concerns that a border tax could hurt oil prices, Chevron's Watson said industry imports would "come into balance" over time. "The unpredictable effects of the U.S. dollar strengthening is what concerns a lot of people," he explained. </p></div>,<div class="group"><p>A border-adjustment tax would likely result in the appreciation of the dollar, to ease the burden of hiked prices on consumers. Would this hurt a company such as Chevron? Not so fast, Watson said. </p><p>"I think what you'll see is a disconnect," he explained. U.S. oil prices might rise, but international prices would offset this. </p><p>And Chevron wouldn't try to move money offshore, either, CEO Watson told CNBC. "What we'll tend to do is take the cash flow that's generated ... and we'll recycle it into shorter cycle-time investments — the portfolio of assets we have in the U.S., in the Gulf of Mexico, in California and elsewhere." </p><p>Since former <a href="//www.cnbc.com/quotes/XOM" target="_blank">Exxon Mobil</a> Chief Executive <a href="https://www.cnbc.com/rex-tillerson/">Rex Tillerson</a> joined the Trump administration, Watson said he's visited with White House staff on multiple occasions and has been encouraged by those meetings.</p><p>"We've seen a more pro-business environment ... I think the approach they're taking toward business — toward enabling our economy to grow again — is a real positive."</p></div>,<div class="group"></div>,<div class="group"></div>
Chevron Chief Executive John Watson told CNBC Tuesday that he "strongly supports U.S. tax reform" under President Donald Trump's administration. Trump's administration wants to make U.S. tax reform competitive, Watson said during an interview on CNBC's "Closing Bell." Specifically he discussed a proposed bill — a border-adjustment tax — that could hike rates on American imports. Despite concerns that a border tax could hurt oil prices, Chevron's Watson said industry imports would "come into balance" over time. "The unpredictable effects of the U.S. dollar strengthening is what concerns a lot of people," he explained. A border-adjustment tax would likely result in the appreciation of the dollar, to ease the burden of hiked prices on consumers. Would this hurt a company such as Chevron? Not so fast, Watson said. "I think what you'll see is a disconnect," he explained. U.S. oil prices might rise, but international prices would offset this. And Chevron wouldn't try to move money offshore, either, CEO Watson told CNBC. "What we'll tend to do is take the cash flow that's generated ... and we'll recycle it into shorter cycle-time investments — the portfolio of assets we have in the U.S., in the Gulf of Mexico, in California and elsewhere." Since former Exxon Mobil Chief Executive Rex Tillerson joined the Trump administration, Watson said he's visited with White House staff on multiple occasions and has been encouraged by those meetings."We've seen a more pro-business environment ... I think the approach they're taking toward business — toward enabling our economy to grow again — is a real positive."
2021-10-30 14:11:24.736488
22. Hexadite
https://www.cnbc.com/2017/02/28/upstart-25-hexadite.html
2017-02-28T11:00:37-0500
null
CNBC
Founders: Eran Barak, Barak Klinghofer (chief product officer), Idan Levin (CTO) Launched: 2014 Headquarters: Boston Funding: $10.5 million The three founders of Hexadite, a Boston-based cybersecurity firm, have backgrounds in investigating and mitigating attacks for military intelligence units and global defense companies. They knew that these same kinds of automated cyberattacks were plaguing a wide variety of companies, leaving them unprepared when responding to a breach or, worse, preventing a future attack.Hexadite uses artificial intelligence to investigate and remediate every alert a company receives, claiming it can resolve incidents in seconds, freeing up a company's response team to focus on threats that truly need their expertise. Hexadite's Automated Incident Response Solution platform can integrate with customers' existing security technologies and can cut response time by 95 percent, the company says.Co-founder and CEO Eran Barak spent five years in an elite intelligence unit of the Israel Defense Forces before starting Hexadite in 2014 and was also head of Elbit Systems' cybertraining and simulation team. Late last year the company formed an alliance with other cybersecurity companies across the country, including Carbon Black, Check Point Software Technologies and Hewlett Packard Enterprise, to better integrate their products and automate important security processes.The goal of the alliance, explains Barak, is to utilize software to lighten the workload of security teams so that they can focus their time on the most dangerous and complex threats. The company has raised $10.5 million in funding from investors, including Hewlett Packard Ventures and TenEleven Ventures.
Articles, Technology, CNBC Upstart 2018, Boston, Special Reports, Crime, Hardware, Start-ups, Cybersecurity, CNBC Upstart, source:tagname:CNBC US Source
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2021-10-30 14:11:24.797620
European stocks close higher on supportive Fed; Signature Aviation skyrockets 40%
https://www.cnbc.com/2020/12/17/european-stock-futures-us-fed-to-support-economy-.html
2020-12-17T06:08:38+0000
Elliot Smith,Holly Ellyatt
CNBC
LONDON — European stocks closed higher on Thursday as traders reacted positively to comments from the U.S. Federal Reserve that it will continue to support the economy.
cnbc, Articles, World economy, World Markets, FTSE MIB, CAC 40 Index, DAX, FTSE 100, Jerome Powell, United States, STOXX 600, United Utilities Group PLC, Zalando SE, thyssenkrupp AG, ams AG, Signature Aviation Ltd, Blackstone Inc, World Economy, Europe Economy, Markets, Europe Markets, source:tagname:CNBC Europe Source
https://image.cnbcfm.com…peg?v=1625845715
<div class="group"><p>LONDON — European stocks closed higher on Thursday as traders reacted positively to comments from the U.S. Federal Reserve that it will continue to support the economy.</p></div>,<div class="group"><p>The pan-European <a href="https://www.cnbc.com/quotes/.STOXX">Stoxx 600</a> provisionally closed up by around 0.4%, with retail shares adding 2.1% to lead gains as most sectors and major bourses advanced.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The positive trend comes after the Fed said it will buy at least $120 billion of bonds each month <a href="https://www.cnbc.com/2020/12/16/fed-decision-december-2020-fed-commits-to-keep-buying-bonds-until-the-economy-gets-back-to-full-employment.html">"until substantial further progress has been made toward the Committee's maximum employment and price stability goals."</a></p><p>Fed Chairman Jerome Powell also said on Wednesday that stock prices are not necessarily highly priced given how low interest rates are.</p><p>On Wall Street, the S&amp;P 500 and Nasdaq Composite opened at record highs on Thursday, boosted by hopes of Washington coming through on additional financial aid before the end of 2020.</p></div>,<div class="group"><p>Congressional leaders on Wednesday closed in on a <a href="https://www.cnbc.com/2020/12/16/coronavirus-stimulus-update-congress-may-offer-900-billion-relief-plan.html">$900 stimulus package</a> that would include direct payments to individuals.</p><p>In Europe Thursday, the <a href="https://www.cnbc.com/2020/12/17/bank-of-england-holds-rates-as-coronavirus-outlook-remains-uncertain.html">Bank of England kept its main lending rate at 0.1%</a>, having earlier cut twice from 0.75% since the onset of the pandemic in March, and retained its target stock of asset purchases at £895 billion ($1.2 trillion).</p><div style="height:100%" class="lazyload-placeholder"></div><p>In terms of individual share price action, British aviation firm <a href="//www.cnbc.com/quotes/BBAVY" target="_blank">Signature Aviation</a> skyrocketed 40% to lead the Stoxx 600 after confirming it was in talks with <a href="//www.cnbc.com/quotes/BX" target="_blank">Blackstone</a> for a possible cash takeover offer of $5.17 a share.</p><p>At the other end of the index, Austrian chipmaker <a href="//www.cnbc.com/quotes/AMS-AT" target="_blank">AMS</a> slid nearly 5%.</p><p><em>Subscribe to </em><a href="https://www.cnbc.com/pro/"><em>CNBC PRO</em></a><em> for exclusive insights and analysis, and live business day programming from around the world.</em></p><p><em>— CNBC.com staff contributed to this market report.</em></p></div>
LONDON — European stocks closed higher on Thursday as traders reacted positively to comments from the U.S. Federal Reserve that it will continue to support the economy.The pan-European Stoxx 600 provisionally closed up by around 0.4%, with retail shares adding 2.1% to lead gains as most sectors and major bourses advanced.The positive trend comes after the Fed said it will buy at least $120 billion of bonds each month "until substantial further progress has been made toward the Committee's maximum employment and price stability goals."Fed Chairman Jerome Powell also said on Wednesday that stock prices are not necessarily highly priced given how low interest rates are.On Wall Street, the S&P 500 and Nasdaq Composite opened at record highs on Thursday, boosted by hopes of Washington coming through on additional financial aid before the end of 2020.Congressional leaders on Wednesday closed in on a $900 stimulus package that would include direct payments to individuals.In Europe Thursday, the Bank of England kept its main lending rate at 0.1%, having earlier cut twice from 0.75% since the onset of the pandemic in March, and retained its target stock of asset purchases at £895 billion ($1.2 trillion).In terms of individual share price action, British aviation firm Signature Aviation skyrocketed 40% to lead the Stoxx 600 after confirming it was in talks with Blackstone for a possible cash takeover offer of $5.17 a share.At the other end of the index, Austrian chipmaker AMS slid nearly 5%.Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.— CNBC.com staff contributed to this market report.
2021-10-30 14:11:24.834045
Fewer investors have a 'fear of missing out,' so it may be time to buckle up, market bull suggests
https://www.cnbc.com/2019/07/26/fear-of-missing-out-sentiment-is-fading-market-bull-says.html
2019-07-28T21:00:47+0000
Stephanie Landsman
CNBC
Oppenheimer Asset Management's John Stoltzfus suggests investors may want to fasten their seat belts.The long-time bull expects a wave of near-term volatility to pressure stocks. He's blaming uncertainty surrounding this week's Federal Reserve decision on interest rates, another big batch of second quarter earnings results and a fresh round of U.S.-China trade talks."Any kind of disappointment in a sense, okay, I can kind of take profits today without FOMO [fear of missing out] gripping my soul," the firm's chief investment strategist told CNBC's "Futures Now" last Thursday.With the fear of missing out gripping fewer investors, Stoltzfus contends it's not the time to get aggressive."We're highly selective at this point with the S&P 500 up over 20%," he said.The index, which closed the week at new record highs, has already surpassed Stoltzfus' year-end target of 2,860 by almost 6%. He's planning to tweak the number once there's more visibility."It's under revision at this time. We're going to wait until after the Fed makes its decision on the 31st," he said "At that point, we'll put in our new target for the year-end, depending on how that goes."Stoltzfus notes a more favorable development in the U.S.-China trade war would be an integral part of his bull case. He believes it's the biggest headwind holding back stocks from ripping even higher."It would be confirmation that indeed the markets thought things weren't so bad, were actually pretty good," he said.For now, Stoltzfus is bracing for a 3 to 4% pullback to strike stocks near term. He'd look to add cyclical names such as consumer discretionary, industrials, financials and technology on weakness."Tech looks like a great place to be because technology flows into all of the eleven sectors. Every business needs technology," Stoltzfus said.
cnbc, Articles, S&P 500 Fut (Dec'21), Technology Select Sector SPDR Fund, S&P 500 Industrials Sector, Consumer Discretionary Select Sector SPDR Fund, Wall Street, Markets, Investment strategy, Commodity markets, Futures & Commodities, Futures Now, Futures, Finance, Investing, CNBC TV, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1569252910
<div class="group"><p>Oppenheimer Asset Management's John Stoltzfus suggests investors may want to fasten their seat belts.</p><p>The long-time bull expects a wave of near-term volatility to pressure stocks. He's blaming uncertainty surrounding this week's Federal Reserve decision on interest rates, another big batch of second quarter earnings results and a fresh round of U.S.-China trade talks.</p><div style="height:100%" class="lazyload-placeholder"></div><p>"Any kind of disappointment in a sense, okay, I can kind of take profits today without FOMO [fear of missing out] gripping my soul," the firm's chief investment strategist told CNBC's "<a href="https://www.cnbc.com/futures-now/">Futures Now</a>" last Thursday.</p><p>With the fear of missing out gripping fewer investors, Stoltzfus contends it's not the time to get aggressive.</p><p>"We're highly selective at this point with the <a href="https://www.cnbc.com/quotes/@SP.1">S&amp;P 500</a> up over 20%," he said.</p><p>The index, which closed the week at new record highs, has already surpassed Stoltzfus' year-end target of 2,860 by almost 6%. He's planning to tweak the number once there's more visibility.</p><p>"It's under revision at this time. We're going to wait until after the Fed makes its decision on the 31st," he said "At that point, we'll put in our new target for the year-end, depending on how that goes."</p><div style="height:100%" class="lazyload-placeholder"></div><p>Stoltzfus notes a more favorable development in the U.S.-China trade war would be an integral part of his bull case. He believes it's the biggest headwind holding back stocks from ripping even higher.</p><p>"It would be confirmation that indeed the markets thought things weren't so bad, were actually pretty good," he said.</p><p>For now, Stoltzfus is bracing for a 3 to 4% pullback to strike stocks near term. He'd look to add cyclical names such as <a href="https://www.cnbc.com/quotes/0L4P-GB">consumer discretionary</a>, <a href="https://www.cnbc.com/quotes/.SPLRCI">industrials</a>, <a href="https://www.cnbc.com/quotes/?symbol=.5SP40">financials</a> and <a href="https://www.cnbc.com/quotes/XLK">technology</a> on weakness.</p><p>"Tech looks like a great place to be because technology flows into all of the eleven sectors. Every business needs technology," Stoltzfus said.</p></div>,<div class="group"></div>
Oppenheimer Asset Management's John Stoltzfus suggests investors may want to fasten their seat belts.The long-time bull expects a wave of near-term volatility to pressure stocks. He's blaming uncertainty surrounding this week's Federal Reserve decision on interest rates, another big batch of second quarter earnings results and a fresh round of U.S.-China trade talks."Any kind of disappointment in a sense, okay, I can kind of take profits today without FOMO [fear of missing out] gripping my soul," the firm's chief investment strategist told CNBC's "Futures Now" last Thursday.With the fear of missing out gripping fewer investors, Stoltzfus contends it's not the time to get aggressive."We're highly selective at this point with the S&P 500 up over 20%," he said.The index, which closed the week at new record highs, has already surpassed Stoltzfus' year-end target of 2,860 by almost 6%. He's planning to tweak the number once there's more visibility."It's under revision at this time. We're going to wait until after the Fed makes its decision on the 31st," he said "At that point, we'll put in our new target for the year-end, depending on how that goes."Stoltzfus notes a more favorable development in the U.S.-China trade war would be an integral part of his bull case. He believes it's the biggest headwind holding back stocks from ripping even higher."It would be confirmation that indeed the markets thought things weren't so bad, were actually pretty good," he said.For now, Stoltzfus is bracing for a 3 to 4% pullback to strike stocks near term. He'd look to add cyclical names such as consumer discretionary, industrials, financials and technology on weakness."Tech looks like a great place to be because technology flows into all of the eleven sectors. Every business needs technology," Stoltzfus said.
2021-10-30 14:11:25.039804
Morgan Stanley Tries to Stave Off Ratings Cut
https://www.cnbc.com/2012/04/05/morgan-stanley-tries-to-stave-off-ratings-cut.html
2012-04-05T06:53:57+0000
null
CNBC
James Gorman, Morgan Stanley’s chief executive, has been in discussions with Moody’s in an attempt to maintain its credit ratings and stave off a downgrade that could diminish the bank’s ability to buy the rest of Citigroup brokerage Smith Barney, according to people familiar with the matter.
cnbc, Articles, Morgan Stanley, Goldman Sachs Group Inc, Citigroup Inc, Bank of America Corp, Business News, Economy, World Economy, Europe News, source:tagname:Financial Times
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<div class="group"><p>James Gorman, Morgan Stanley’s chief executive, has been in discussions with Moody’s in an attempt to maintain its credit ratings and stave off a downgrade that could diminish the bank’s ability to buy the rest of Citigroup brokerage Smith Barney, according to people familiar with the matter.</p></div>,<div class="group"><p>Morgan Stanley owns 51 percent of Smith Barney, and holds an option, which kicks in at the end of May, to increase its stake to 65 percent. Taking full control of the brokerage is a centrepiece of Mr Gorman’s strategy. Morgan Stanley declined to comment.</p><div style="height:100%" class="lazyload-placeholder"></div><p>People familiar with the bank’s thinking have said Morgan Stanley could consider buying all of Smith Barney outright, but its ultimate decision will depend on price. Analysts have valued Citi’s remaining Smith Barney stake at around $10 billion.</p><p>Morgan Stanley would most likely have to issue debt to fund the purchase, people say. That would become more expensive if Morgan Stanley is downgraded. Moody’s put Morgan Stanley, along with five other banks, on review for a downgrade in February. The bank could see its rating reduced by as many as three notches to Baa2 - two levels above junk status.</p><p>A downgrade would also force Morgan Stanley to provide additional collateral to back its vast derivatives business, where it acts as a counterparty. </p><p>Mr Gorman has been meeting Moody’s executives since earlier this year. The chief executive, who took over from John Mack at the beginning of 2010, is also thought to be discussing possible steps the bank could take to cushion the impact of a downgrade. These include shifting the banks’ derivatives books to a higher-rated subsidiary, which would help save it collateral costs. Other banks including Citigroup and Bank of America have done this.</p><p>Other major banks, such as <strong>JPMorgan</strong> and Goldman Sachs , are also on review for downgrade at Moody’s. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Morgan Stanley agreed to fold its retail brokerage business into a joint venture with Smith Barney in 2009. The venture is a key component of the bank’s push to become less dependent on volatile trading operations.</p><p>“[A downgrade] will make it more expensive [to issue debt] on the margin, but the overall cost of funding is not very expensive,” said one banker, who specializes in selling financials’ debt. Markets may be pricing in a higher cost of funding, he added.</p></div>
James Gorman, Morgan Stanley’s chief executive, has been in discussions with Moody’s in an attempt to maintain its credit ratings and stave off a downgrade that could diminish the bank’s ability to buy the rest of Citigroup brokerage Smith Barney, according to people familiar with the matter.Morgan Stanley owns 51 percent of Smith Barney, and holds an option, which kicks in at the end of May, to increase its stake to 65 percent. Taking full control of the brokerage is a centrepiece of Mr Gorman’s strategy. Morgan Stanley declined to comment.People familiar with the bank’s thinking have said Morgan Stanley could consider buying all of Smith Barney outright, but its ultimate decision will depend on price. Analysts have valued Citi’s remaining Smith Barney stake at around $10 billion.Morgan Stanley would most likely have to issue debt to fund the purchase, people say. That would become more expensive if Morgan Stanley is downgraded. Moody’s put Morgan Stanley, along with five other banks, on review for a downgrade in February. The bank could see its rating reduced by as many as three notches to Baa2 - two levels above junk status.A downgrade would also force Morgan Stanley to provide additional collateral to back its vast derivatives business, where it acts as a counterparty. Mr Gorman has been meeting Moody’s executives since earlier this year. The chief executive, who took over from John Mack at the beginning of 2010, is also thought to be discussing possible steps the bank could take to cushion the impact of a downgrade. These include shifting the banks’ derivatives books to a higher-rated subsidiary, which would help save it collateral costs. Other banks including Citigroup and Bank of America have done this.Other major banks, such as JPMorgan and Goldman Sachs , are also on review for downgrade at Moody’s. Morgan Stanley agreed to fold its retail brokerage business into a joint venture with Smith Barney in 2009. The venture is a key component of the bank’s push to become less dependent on volatile trading operations.“[A downgrade] will make it more expensive [to issue debt] on the margin, but the overall cost of funding is not very expensive,” said one banker, who specializes in selling financials’ debt. Markets may be pricing in a higher cost of funding, he added.
2021-10-30 14:11:25.106016
Consultant to 'Vampire Squid of Expert Network Firms' Questioned by FBI
https://www.cnbc.com/2010/11/30/consultant-to-vampire-squid-of-expert-network-firms-questioned-by-fbi.html
2010-11-30T15:42:50+0000
Ash Bennington
CNBC
We know that one of the principal focuses of the government in their investigation into insider trading in general—and into hedge funds in particular—are the so-called "expert-network" firms.
cnbc, Articles, CNBC EVENTS, NetNet, source:tagname:CNBC US Source
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<div class="group"><p>We know that one of the principal focuses of the government in their investigation into insider trading in general—and into hedge funds in particular—are the so-called "expert-network" firms.</p></div>,<div class="group"><p>The purpose of the expert network firms is to provide information and insight about companies that investors are interested in—and also, perhaps more crucially, to help manage the relationships between the investors and the managers of companies they seek to invest in. Think about the nature of that scenario: Investors and managers chatting together informally, outside the scope of more traditional venues like earnings calls and IR events. It seems a safe bet that, amid allegations of widespread insider trading, the government might be interested in exploring that channel to see if material nonpublic information might have changed hands. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Today, the news is that <strong>Gerson Lehrman Group</strong>, the largest of the expert network firms, had at least <a href="http://online.wsj.com/article/SB10001424052748703945904575645202769315746.html?mod=wsj_share_twitter" target="_blank">one of its consultants questioned by the FBI</a>. For those not familiar with the hedge fund/expert network axis, the significance of this may not be immediately obvious. </p></div>,<div class="group"><p>While Gerson Lehrman Group may sound to the uninitiated a bit like a dish prepared by the Swedish Chef on the Muppets, this firm is a very serious player in the expert network space. The Wall Street Journal reports that "Gerson controls two-thirds of the market for expert networks" </p><p>To put that number in perspective, think about this: <a href="http://dealbook.nytimes.com/2010/04/06/jpmorgan-keeps-lead-in-i-banking-league-tables/" target="_blank">JPMorgan is the current leader </a>in capital markets transaction—and they control only 7.8 percent market share. </p><p>So, in the space they play in, Gerson is a vampire squid on steroids. </p><p>The Wall Street Journal article alludes to the significance: "The FBI questioning of the Gerson consultant shows the government's examination of the expert-network business is broader than Primary Global. Criminal and civil authorities are investigating whether these consultants passed inside information to clients, who pay the expert companies large fees for their services." </p><div style="height:100%" class="lazyload-placeholder"></div><p>It seems that it's not just Gerson in the crosshairs—but more broadly the clients they serviced. </p><p>And which firms are Gerson clients? </p><p>According to the Journal: "In recent years, Gerson's client roster has included prominent hedge funds like SAC Capital Advisors LLC, mutual-fund company Fidelity Investments, private-equity firm Carlyle Group LLC and Wall Street investment banks, said people familiar with the matter." </p><p>The phrase "has included" tells you that we're not looking at an exhaustive inventory in the list that follows—but only a sampling. </p><p>And the message from that sample seems to be that Gerson clients are many of the big boys. </p><p>Interestingly, no "Wall Street investment banks" are cited by name – but if the sampling of hedge funds and private equity groups provided is representative of the caliber of firms Gerson did business with on the banking side, you might expect to see some of your favorite A-list players from the top of the banking league tables represented on their client list. </p><p>The Journal article reports that <a href="https://www.cnbc.com/2010/11/22/hedge-fund-raid.html">Diamondback Capital</a> —which has already been raided by the FBI in the probe—is a client of Gerson. </p><p>It is important to note that no allegations of wrongdoing have been made against Gerson or any of its employees related to the current probe. </p><p>Nonetheless, one's curiosity might naturally be piqued by the client list and the nature of the relationships involved—enough to keep following this story. Closely.</p><p>_____________________________________________________</p><p><strong><em>Questions? Comments? Email us at</em></strong></p><p><strong><em>Follow NetNet on Twitter @ twitter.com/CNBCnetnet</em></strong></p><p><strong><em>Facebook us @ </em></strong></p></div>
We know that one of the principal focuses of the government in their investigation into insider trading in general—and into hedge funds in particular—are the so-called "expert-network" firms.The purpose of the expert network firms is to provide information and insight about companies that investors are interested in—and also, perhaps more crucially, to help manage the relationships between the investors and the managers of companies they seek to invest in. Think about the nature of that scenario: Investors and managers chatting together informally, outside the scope of more traditional venues like earnings calls and IR events. It seems a safe bet that, amid allegations of widespread insider trading, the government might be interested in exploring that channel to see if material nonpublic information might have changed hands. Today, the news is that Gerson Lehrman Group, the largest of the expert network firms, had at least one of its consultants questioned by the FBI. For those not familiar with the hedge fund/expert network axis, the significance of this may not be immediately obvious. While Gerson Lehrman Group may sound to the uninitiated a bit like a dish prepared by the Swedish Chef on the Muppets, this firm is a very serious player in the expert network space. The Wall Street Journal reports that "Gerson controls two-thirds of the market for expert networks" To put that number in perspective, think about this: JPMorgan is the current leader in capital markets transaction—and they control only 7.8 percent market share. So, in the space they play in, Gerson is a vampire squid on steroids. The Wall Street Journal article alludes to the significance: "The FBI questioning of the Gerson consultant shows the government's examination of the expert-network business is broader than Primary Global. Criminal and civil authorities are investigating whether these consultants passed inside information to clients, who pay the expert companies large fees for their services." It seems that it's not just Gerson in the crosshairs—but more broadly the clients they serviced. And which firms are Gerson clients? According to the Journal: "In recent years, Gerson's client roster has included prominent hedge funds like SAC Capital Advisors LLC, mutual-fund company Fidelity Investments, private-equity firm Carlyle Group LLC and Wall Street investment banks, said people familiar with the matter." The phrase "has included" tells you that we're not looking at an exhaustive inventory in the list that follows—but only a sampling. And the message from that sample seems to be that Gerson clients are many of the big boys. Interestingly, no "Wall Street investment banks" are cited by name – but if the sampling of hedge funds and private equity groups provided is representative of the caliber of firms Gerson did business with on the banking side, you might expect to see some of your favorite A-list players from the top of the banking league tables represented on their client list. The Journal article reports that Diamondback Capital —which has already been raided by the FBI in the probe—is a client of Gerson. It is important to note that no allegations of wrongdoing have been made against Gerson or any of its employees related to the current probe. Nonetheless, one's curiosity might naturally be piqued by the client list and the nature of the relationships involved—enough to keep following this story. Closely._____________________________________________________Questions? Comments? Email us atFollow NetNet on Twitter @ twitter.com/CNBCnetnetFacebook us @
2021-10-30 14:11:25.194014
Average tax refunds are down 8.4% in the wake of Trump tax cuts
https://www.cnbc.com/2019/02/11/average-tax-refunds-are-down-8point4percent-in-wake-of-trump-tax-cuts.html
2019-02-11T10:04:30+0000
null
CNBC
The first U.S. tax filing season under the overhaul that President Donald Trump signed into law at the end of 2017 got off to a slow start in the first week, with data released on Friday showing a significant drop in returns and refunds.According to the Internal Revenue Service, the total number of returns received in the week ending Feb. 1, 16.04 million, was down 12.4 percent from the week that ended on Feb. 2, 2018. Only 13.31 million returns were processed, down 25.8 percent from the year before. The average refund of $1,865 was 8.4 percent smaller than the average refund in the period last year.
cnbc, Articles, Tax planning, Politics, Personal finance, Government taxation and revenue, Personal Finance, US: News, Taxes, Investing, Tax Planning, source:tagname:Reuters
https://image.cnbcfm.com…jpg?v=1620056826
<div class="group"><p>The first U.S. tax filing season under the overhaul that President Donald Trump signed into law at the end of 2017 got off to a slow start in the first week, with data released on Friday showing a significant drop in returns and refunds.</p><p>According to the Internal Revenue Service, the total number of returns received in the week ending Feb. 1, 16.04 million, was down 12.4 percent from the week that ended on Feb. 2, 2018. Only 13.31 million returns were processed, down 25.8 percent from the year before. The average refund of $1,865 was 8.4 percent smaller than the average refund in the period last year.</p></div>,<div class="group"><div style="height:100%" class="lazyload-placeholder"></div><p>The partial government shutdown - at 35 days, the longest in U.S. history - ended three days before the tax filing season officially opened on Jan. 28. The final deadline is Apr. 15.</p><p>Republicans passed a $1.5 trillion tax overhaul in the final weeks of 2017 that cut rates for both individuals and corporations, giving fellow Republican Trump a major policy victory. Democrats had warned that the cuts and other changes in the overhaul would primarily benefit the country's wealthiest, and many are eager to see how it will affect average Americans.</p><p>Treasury Secretary Steven Mnuchin said in a statement on Friday that the 2019 "filing season has successfully launched with millions of tax returns having been filed."</p></div>
The first U.S. tax filing season under the overhaul that President Donald Trump signed into law at the end of 2017 got off to a slow start in the first week, with data released on Friday showing a significant drop in returns and refunds.According to the Internal Revenue Service, the total number of returns received in the week ending Feb. 1, 16.04 million, was down 12.4 percent from the week that ended on Feb. 2, 2018. Only 13.31 million returns were processed, down 25.8 percent from the year before. The average refund of $1,865 was 8.4 percent smaller than the average refund in the period last year.The partial government shutdown - at 35 days, the longest in U.S. history - ended three days before the tax filing season officially opened on Jan. 28. The final deadline is Apr. 15.Republicans passed a $1.5 trillion tax overhaul in the final weeks of 2017 that cut rates for both individuals and corporations, giving fellow Republican Trump a major policy victory. Democrats had warned that the cuts and other changes in the overhaul would primarily benefit the country's wealthiest, and many are eager to see how it will affect average Americans.Treasury Secretary Steven Mnuchin said in a statement on Friday that the 2019 "filing season has successfully launched with millions of tax returns having been filed."
2021-10-30 14:11:25.234847
Watch: Oaktree Capital's Howard Marks speak from the Context Summit
https://www.cnbc.com/2019/01/30/watch-oaktree-capitals-howard-marks-speak-from-the-context-summit.html
2019-01-30T20:32:22+0000
Thomas Franck
CNBC
[The stream is slated to start at 3:45 p.m. ET. Please refresh the page if you do not see a player above at that time.]Oaktree Capital Management co-chairman Howard Marks on Wednesday will speak from the Context Summits Miami conference in Miami Beach, Florida.Marks is known for his prescient investment memos, which warned about the financial crisis and the dot-com bubble implosion. During the 2007-09 market meltdown, the longtime investor established an $11 billion distressed-debt fund aimed at buying the financial instruments of companies near or currently in bankruptcy, helping Marks deliver some of the best returns on Wall Street at the time.Oaktree Capital had $124 billion of assets under management as of September 2018, according to its website.Subscribe to CNBC on YouTube.
cnbc, Articles, Oaktree Capital Group LLC, Investment strategy, Markets, Investing, Investment Strategy, Investment Strategies, US: News, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1548791525
<div class="group"><p>[The stream is slated to start at 3:45 p.m. ET. Please refresh the page if you do not see a player above at that time.]</p><p>Oaktree Capital Management co-chairman Howard Marks on Wednesday will speak from the Context Summits Miami conference in Miami Beach, Florida.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Marks is known for his prescient investment memos, which warned about the financial crisis and the dot-com bubble implosion. During the 2007-09 market meltdown, the longtime investor established an $11 billion distressed-debt fund aimed at buying the financial instruments of companies near or currently in bankruptcy, helping Marks deliver some of the best returns on Wall Street at the time.</p><p>Oaktree Capital had $124 billion of assets under management as of September 2018, according to its <a href="https://www.oaktreecapital.com/about" target="_blank">website</a>.</p><p><a href="https://www.youtube.com/c/CNBC?sub_confirmation=1" target="_blank"><em><strong>Subscribe to CNBC on YouTube.</strong></em></a></p></div>
[The stream is slated to start at 3:45 p.m. ET. Please refresh the page if you do not see a player above at that time.]Oaktree Capital Management co-chairman Howard Marks on Wednesday will speak from the Context Summits Miami conference in Miami Beach, Florida.Marks is known for his prescient investment memos, which warned about the financial crisis and the dot-com bubble implosion. During the 2007-09 market meltdown, the longtime investor established an $11 billion distressed-debt fund aimed at buying the financial instruments of companies near or currently in bankruptcy, helping Marks deliver some of the best returns on Wall Street at the time.Oaktree Capital had $124 billion of assets under management as of September 2018, according to its website.Subscribe to CNBC on YouTube.
2021-10-30 14:11:25.269740
Guggenheim says solar sell-off is a buying opportunity and has an unusual favorite stock
https://www.cnbc.com/2021/06/03/solar-stocks-sunrun-sunnova-among-guggenheims-buy-rated-picks.html
2021-06-03T10:44:44+0000
Pippa Stevens
CNBC
Renewable energy is poised to play an ever greater role as the world shifts away from fossil fuels, and the recent pullback in clean tech stocks presents a buying opportunity, Guggenheim said while initiating coverage on solar stocks."We believe that the shift to distributed energy generation and storage is a large, sustained phenomenon, and owning best-in-class companies makes sense," the firm wrote in a note to clients. "We expect distributed solar installations to continue growing robustly, especially now that energy storage is becoming economically viable."Following a 140% gain in 2020, the iShares Global Clean Energy ETF has dipped 20% this year. The S&P 500, by comparison, has gained 12%.Guggenheim pointed to several possible factors driving the declines, including excessive valuations after 2020's record run, as well as slower-than-expected governmental policies. Other concerns include rising input costs, such as for steel and semiconductors, and higher interest rates.But given solar's large and growing market, Guggenheim said the pullback is an "attractive opportunity" to pick up shares of quality names.
cnbc, Premium, Articles, Solar power, Investment strategy, Stock markets, Generac Holdings Inc, Enphase Energy Inc, iShares Global Clean Energy ETF, S&P 500 Index, Sunrun Inc, Sunnova Energy International Inc, Solaredge Technologies Inc, Guggenheim Enhanced Equity Income, stocks, Investing, PRO Home, CNBC Pro, Pro: Future of Energy, source:tagname:CNBC US Source
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<div class="group"><p>Renewable energy is poised to play an ever greater role as the world shifts away from fossil fuels, and the recent pullback in clean tech stocks presents a buying opportunity, Guggenheim said while initiating coverage on solar stocks.</p><p>"We believe that the shift to distributed energy generation and storage is a large, sustained phenomenon, and owning best-in-class companies makes sense," the firm wrote in a note to clients. "We expect distributed solar installations to continue growing robustly, especially now that energy storage is becoming economically viable."</p><p>Following a 140% gain in 2020, the <a href="https://www.cnbc.com/quotes/ICLN">iShares Global Clean Energy ETF</a> has dipped 20% this year. The <a href="https://www.cnbc.com/quotes/.SPX">S&amp;P 500</a>, by comparison, has gained 12%.</p><div class="inline-piano-offer"></div><p>Guggenheim pointed to several possible factors driving the declines, including excessive valuations after 2020's record run, as well as slower-than-expected governmental policies. Other concerns include rising input costs, such as for steel and semiconductors, and higher interest rates.</p><p>But given solar's large and growing market, Guggenheim said the pullback is an "attractive opportunity" to pick up shares of quality names.</p></div>
Renewable energy is poised to play an ever greater role as the world shifts away from fossil fuels, and the recent pullback in clean tech stocks presents a buying opportunity, Guggenheim said while initiating coverage on solar stocks."We believe that the shift to distributed energy generation and storage is a large, sustained phenomenon, and owning best-in-class companies makes sense," the firm wrote in a note to clients. "We expect distributed solar installations to continue growing robustly, especially now that energy storage is becoming economically viable."Following a 140% gain in 2020, the iShares Global Clean Energy ETF has dipped 20% this year. The S&P 500, by comparison, has gained 12%.Guggenheim pointed to several possible factors driving the declines, including excessive valuations after 2020's record run, as well as slower-than-expected governmental policies. Other concerns include rising input costs, such as for steel and semiconductors, and higher interest rates.But given solar's large and growing market, Guggenheim said the pullback is an "attractive opportunity" to pick up shares of quality names.
2021-10-30 14:11:25.348668
Eni Pays Dominion $4.76 Billion for U.S. Gulf Assets
https://www.cnbc.com/2007/04/30/eni-pays-dominion-476-billion-for-us-gulf-assets.html
2007-04-30T06:55:55+0000
null
CNBC
Italian oil and gas company Eni has bought upstream assets in the Gulf of Mexico from Dominion Resources for $4.757 billion, Eni said in a statement on Monday.Eni said the acquisition would boost its production in the area to more than 110,000 barrels of oil equivalent per day (boepd) in the second half of 2007. In the period from 2007-2010, production from the new assets would average more than 75,000 boepd.Eni, Europe's fourth-biggest oil company by market value, said included in the purchase were exploration assets for $680 million and said around 60% of he overall leases were operated."Through this transaction we reach the necessary critical mass for our activities in the Gulf of Mexico," Eni Chief Executive Officer Paolo Scaroni said in the statement.Eni is one of the few world oil majors which has been able to largely avoid a decline in output as it adds production both through acquisitions and as new fields come onstream.It has made several large acquisitions recently.Earlier this month it won with Italian utility Enel a $5.8 billion auction for assets formerly held by bankrupt oil firm YUKOS but they handed the bulk of the prize to Russian gas monopoly Gazprom.Eni agreed to buy a package of Congolese assets from France's Maurel et Prom for $1.4 billion earlier this year and in March struck a deal to split a stake in one of those fields with Burren Energy.
cnbc, Articles, Business News, Economy, US Economy, US: News, source:tagname:Reuters
https://sc.cnbcfm.com/ap…1804&w=720&h=405
<div class="group"><p>Italian oil and gas company<strong> Eni </strong>has bought upstream assets in the Gulf of Mexico from <strong>Dominion Resources </strong>for $4.757 billion, Eni said in a statement on Monday.</p><p>Eni said the acquisition would boost its production in the area to more than 110,000 barrels of oil equivalent per day (boepd) in the second half of 2007. In the period from 2007-2010, production from the new assets would average more than 75,000 boepd.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Eni, Europe's fourth-biggest oil company by market value, said included in the purchase were exploration assets for $680 million and said around 60% of he overall leases were operated.</p><p>"Through this transaction we reach the necessary critical mass for our activities in the Gulf of Mexico," Eni Chief Executive Officer Paolo Scaroni said in the statement.</p><p>Eni is one of the few world oil majors which has been able to largely avoid a decline in output as it adds production both through acquisitions and as new fields come onstream.</p><p>It has made several large acquisitions recently.</p><p>Earlier this month it won with Italian utility Enel a $5.8 billion auction for assets formerly held by bankrupt oil firm <strong>YUKOS</strong> but they handed the bulk of the prize to Russian gas monopoly Gazprom.</p><p>Eni agreed to buy a package of Congolese assets from France's Maurel et Prom for $1.4 billion earlier this year and in March struck a deal to split a stake in one of those fields with Burren Energy. </p></div>
Italian oil and gas company Eni has bought upstream assets in the Gulf of Mexico from Dominion Resources for $4.757 billion, Eni said in a statement on Monday.Eni said the acquisition would boost its production in the area to more than 110,000 barrels of oil equivalent per day (boepd) in the second half of 2007. In the period from 2007-2010, production from the new assets would average more than 75,000 boepd.Eni, Europe's fourth-biggest oil company by market value, said included in the purchase were exploration assets for $680 million and said around 60% of he overall leases were operated."Through this transaction we reach the necessary critical mass for our activities in the Gulf of Mexico," Eni Chief Executive Officer Paolo Scaroni said in the statement.Eni is one of the few world oil majors which has been able to largely avoid a decline in output as it adds production both through acquisitions and as new fields come onstream.It has made several large acquisitions recently.Earlier this month it won with Italian utility Enel a $5.8 billion auction for assets formerly held by bankrupt oil firm YUKOS but they handed the bulk of the prize to Russian gas monopoly Gazprom.Eni agreed to buy a package of Congolese assets from France's Maurel et Prom for $1.4 billion earlier this year and in March struck a deal to split a stake in one of those fields with Burren Energy.
2021-10-30 14:11:25.862794
Strategist Paulsen: Market bottom is not in
https://www.cnbc.com/2015/10/06/strategist-paulsen-market-bottom-is-not-in.html
2015-10-06T19:24:25+0000
Tae Kim
CNBC
Jim Paulsen, chief investment strategist of Wells Capital Management, believes the stock market sell-off is not over. "Finding a bottom in the stock market may well be a fool's game, but that does not stop us fools from trying," Paulsen wrote to clients Tuesday. He added: "In our view, a quick recovery back near all-time highs would leave the stock market with many of the same vulnerabilities that started the correction. Consequently, we would not be surprised if the stock market tests its correction low yet again and perhaps even fails before reaching a final bottom." Here is why he believes the market is vulnerable…
cnbc, Premium, Articles, Stock markets, Investment strategy, Investing, stocks, source:tagname:CNBC US Source
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<div class="group"><p>Jim Paulsen, chief investment strategist of Wells Capital Management, believes the stock market sell-off is not over.<br></p><p> "Finding a bottom in the stock market may well be a fool's game, but that does not stop us fools from trying," Paulsen wrote to clients Tuesday. </p><p>He added: "In our view, a quick recovery back near all-time highs would leave the stock market with many of the same vulnerabilities that started the correction. Consequently, we would not be surprised if the stock market tests its correction low yet again and perhaps even fails before reaching a final bottom."</p><div class="inline-piano-offer"></div><p> Here is why he believes the market is vulnerable…</p></div>
Jim Paulsen, chief investment strategist of Wells Capital Management, believes the stock market sell-off is not over. "Finding a bottom in the stock market may well be a fool's game, but that does not stop us fools from trying," Paulsen wrote to clients Tuesday. He added: "In our view, a quick recovery back near all-time highs would leave the stock market with many of the same vulnerabilities that started the correction. Consequently, we would not be surprised if the stock market tests its correction low yet again and perhaps even fails before reaching a final bottom." Here is why he believes the market is vulnerable…
2021-10-30 14:11:26.028573
CDC says 28 blood clot cases, 3 deaths may be linked to J&J Covid vaccine
https://www.cnbc.com/2021/05/12/cdc-says-28-blood-clot-cases-3-deaths-may-be-linked-to-jj-covid-vaccine.html
2021-05-12T21:01:16+0000
Dawn Kopecki,Rich Mendez
CNBC
CDC scientists say their investigation into a rare blood clotting issue linked to the Johnson & Johnson Covid-19 vaccine has identified 28 people who developed the potentially life threatening blockages — three of whom have died.The Food and Drug Administration and Centers for Disease Control and Prevention on April 13 asked states to temporarily halt using J&J's vaccine "out of an abundance of caution" while it investigated six women, ages 18 to 48, who developed cerebral venous sinus thrombosis, or CVST, in combination with low blood platelets within about two weeks of receiving the shot.They recommended resuming use of the shot 10 days later after the CDC determined that the benefits of the inoculations outweighed their risks.CVST is a form of thrombosis with thrombocytopenia, or TTS, which are blood clots with a low platelet count that puts patients at risk for a stroke. Platelets actually help the blood to clot.Read CNBC's latest global coverage of the Covid pandemic:FDA authorizes Pfizer's Covid vaccine for kids ages 5 to 11 South Korea loosens restrictions in first step toward 'living with Covid-19'  Florida sues Biden over contractor Covid vaccine mandateGlobal Covid cases and deaths rise for the first time in two months, WHO says Some 5% of unvaccinated adults quit their jobs over Covid vaccine mandates, survey shows
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<div class="group"><p>CDC scientists say their investigation into a rare blood clotting issue linked to the <a href="//www.cnbc.com/quotes/JNJ" target="_blank">Johnson &amp; Johnson</a> Covid-19 vaccine has identified 28 people who developed the potentially life threatening blockages — three of whom have died.</p><p>The Food and Drug Administration and Centers for Disease Control and Prevention on April 13 <a href="https://www.cnbc.com/2021/04/13/us-regulators-reportedly-call-for-pause-in-use-of-johnson-johnson-vaccine-due-to-clotting-issues.html">asked states to temporarily</a> halt using J&amp;J's vaccine "out of an abundance of caution" while it investigated six women, ages 18 to 48, who developed cerebral venous sinus thrombosis, or CVST, in combination with low blood platelets within about two weeks of receiving the shot.</p><div style="height:100%" class="lazyload-placeholder"></div><p>They recommended <a href="https://www.cnbc.com/2021/04/23/jj-covid-vaccine-cdc-panel-recommends-resuming-use-of-jj-vaccine-.html">resuming use of the shot 10 days later</a> after the CDC determined that the benefits of the inoculations outweighed their risks.</p><p>CVST is a form of thrombosis with thrombocytopenia, or TTS, which are blood clots with a low platelet count that puts patients at risk for a stroke. Platelets actually help the blood to clot.</p></div>,<div class="group"><p>CDC official Dr. Tom Shimabukuro said Wednesday that four of the 28 people with TTS remained in the hospital as of May 7, one of whom was in the ICU, and two have been discharged to a post-acute care facility. The remaining 19 patients have all been discharged, he said during a presentation to the CDC's Advisory Committee on Immunization Practices. The panel voted earlier in the day to recommend the <a href="//www.cnbc.com/quotes/PFE" target="_blank">Pfizer</a>-<a href="//www.cnbc.com/quotes/BNTX" target="_blank">BioNTech</a> vaccine for use in 12- to 15-year olds.</p></div>,<div class="group"><div class="RelatedContent-relatedContent" id="RegularArticle-RelatedContent-1"><div class="RelatedContent-container"><div class="RelatedContent-nonCollapsibleContent"><h2 class="RelatedContent-header">CNBC Health &amp; Science </h2><div class="group"><p>Read CNBC's latest global coverage of the Covid pandemic:</p><p><a href="https://www.cnbc.com/2021/10/29/pfizer-covid-vaccine-fda-authorizes-for-kids-ages-5-to-11.html">FDA authorizes Pfizer's Covid vaccine for kids ages 5 to 11</a> </p><p><a href="https://www.cnbc.com/2021/10/29/south-korea-loosens-restrictions-in-step-toward-living-with-covid-19.html">South Korea loosens restrictions in first step toward 'living with Covid-19' </a> </p><p><a href="https://www.cnbc.com/2021/10/28/florida-sues-biden-over-contractor-covid-vaccine-mandate.html">Florida sues Biden over contractor Covid vaccine mandate</a></p><p><a href="https://www.cnbc.com/2021/10/28/global-covid-cases-and-deaths-rise-for-the-first-time-in-two-months-who-says.html">Global Covid cases and deaths rise for the first time in two months, WHO says</a> </p><p><a href="https://www.cnbc.com/2021/10/28/covid-vaccine-some-5percent-of-unvaccinated-adults-have-quit-their-jobs-over-a-mandate-survey-shows.html">Some 5% of unvaccinated adults quit their jobs over Covid vaccine mandates, survey shows </a></p></div></div></div></div></div>,<div class="group"><p>Read CNBC's latest global coverage of the Covid pandemic:</p><p><a href="https://www.cnbc.com/2021/10/29/pfizer-covid-vaccine-fda-authorizes-for-kids-ages-5-to-11.html">FDA authorizes Pfizer's Covid vaccine for kids ages 5 to 11</a> </p><p><a href="https://www.cnbc.com/2021/10/29/south-korea-loosens-restrictions-in-step-toward-living-with-covid-19.html">South Korea loosens restrictions in first step toward 'living with Covid-19' </a> </p><p><a href="https://www.cnbc.com/2021/10/28/florida-sues-biden-over-contractor-covid-vaccine-mandate.html">Florida sues Biden over contractor Covid vaccine mandate</a></p><p><a href="https://www.cnbc.com/2021/10/28/global-covid-cases-and-deaths-rise-for-the-first-time-in-two-months-who-says.html">Global Covid cases and deaths rise for the first time in two months, WHO says</a> </p><p><a href="https://www.cnbc.com/2021/10/28/covid-vaccine-some-5percent-of-unvaccinated-adults-have-quit-their-jobs-over-a-mandate-survey-shows.html">Some 5% of unvaccinated adults quit their jobs over Covid vaccine mandates, survey shows </a></p></div>,<div class="group"><p>The median age of the patients with TTS was 40, ranging from 18 to 59 years old. Women who were 30 to 39 years old accounted for the biggest risk group. All of the patients received the J&amp;J shot before the pause on April 13. Out of the 28 TTS cases, 19 affected the brain with 10 of those patients suffering from a cerebral hemorrhage, Shimabukuro said.</p><p>The other clots formed in the lower extremities, pulmonary arteries or other areas of the body.</p></div>
CDC scientists say their investigation into a rare blood clotting issue linked to the Johnson & Johnson Covid-19 vaccine has identified 28 people who developed the potentially life threatening blockages — three of whom have died.The Food and Drug Administration and Centers for Disease Control and Prevention on April 13 asked states to temporarily halt using J&J's vaccine "out of an abundance of caution" while it investigated six women, ages 18 to 48, who developed cerebral venous sinus thrombosis, or CVST, in combination with low blood platelets within about two weeks of receiving the shot.They recommended resuming use of the shot 10 days later after the CDC determined that the benefits of the inoculations outweighed their risks.CVST is a form of thrombosis with thrombocytopenia, or TTS, which are blood clots with a low platelet count that puts patients at risk for a stroke. Platelets actually help the blood to clot.CDC official Dr. Tom Shimabukuro said Wednesday that four of the 28 people with TTS remained in the hospital as of May 7, one of whom was in the ICU, and two have been discharged to a post-acute care facility. The remaining 19 patients have all been discharged, he said during a presentation to the CDC's Advisory Committee on Immunization Practices. The panel voted earlier in the day to recommend the Pfizer-BioNTech vaccine for use in 12- to 15-year olds.CNBC Health & Science Read CNBC's latest global coverage of the Covid pandemic:FDA authorizes Pfizer's Covid vaccine for kids ages 5 to 11 South Korea loosens restrictions in first step toward 'living with Covid-19'  Florida sues Biden over contractor Covid vaccine mandateGlobal Covid cases and deaths rise for the first time in two months, WHO says Some 5% of unvaccinated adults quit their jobs over Covid vaccine mandates, survey shows Read CNBC's latest global coverage of the Covid pandemic:FDA authorizes Pfizer's Covid vaccine for kids ages 5 to 11 South Korea loosens restrictions in first step toward 'living with Covid-19'  Florida sues Biden over contractor Covid vaccine mandateGlobal Covid cases and deaths rise for the first time in two months, WHO says Some 5% of unvaccinated adults quit their jobs over Covid vaccine mandates, survey shows The median age of the patients with TTS was 40, ranging from 18 to 59 years old. Women who were 30 to 39 years old accounted for the biggest risk group. All of the patients received the J&J shot before the pause on April 13. Out of the 28 TTS cases, 19 affected the brain with 10 of those patients suffering from a cerebral hemorrhage, Shimabukuro said.The other clots formed in the lower extremities, pulmonary arteries or other areas of the body.
2021-10-30 14:11:26.081052
The world’s most powerful women are …
https://www.cnbc.com/2014/05/28/the-worlds-most-powerful-women-are.html
2014-05-29T01:01:17+0000
null
CNBC
Forbes has "leaned in," releasing its annual list of the world's 100 most powerful women, looking largely outside the corporate C-suite for its power players. "We've taken a much more expansive, dynamic look at power, not just traditional power roles such as running a corporation or head of state, but also creative dynamic power," Moira Forbes, president and publisher of ForbesWoman, told CNBC. "Money is always important to look at because it is a form of influence particularly when you're looking at the size of a global business, the impact it has, the size of an economy," Forbes said. "But also we looked at things like social influence." Read More Why am I rich? Wealthy women cite frugality, good advice She cited Sheryl Sandberg, the chief operating officer at Facebook, ranked ninth on the list, as an example, noting Sandberg is a business leader, self-made billionaire and uses her influence to drive dialogues on women in leadership through her "lean in" campaign.
cnbc, Articles, Meta Platforms Inc, Temasek Holdings, Weibo Corp, Business News, Economy, World Economy, source:tagname:CNBC Asia Source
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<div class="group"><p> Forbes has "leaned in," releasing its annual list of the world's 100 most powerful women, looking largely outside the corporate C-suite for its power players. </p><p> "We've taken a much more expansive, dynamic look at power, not just traditional power roles such as running a corporation or head of state, but also creative dynamic power," Moira Forbes, president and publisher of ForbesWoman, told CNBC. </p><div style="height:100%" class="lazyload-placeholder"></div><p> "Money is always important to look at because it is a form of influence particularly when you're looking at the size of a global business, the impact it has, the size of an economy," Forbes said. "But also we looked at things like social influence."</p><p> <span class="label-read-more">Read More</span> <a href="https://www.cnbc.com/2014/03/11/wealthy-women-cite-frugality-good-advice-in-creating-wealth.html">Why am I rich? Wealthy women cite frugality, good advice</a><br></p><p> She cited Sheryl Sandberg, the chief operating officer at <a href="//www.cnbc.com/quotes/FB" target="_blank">Facebook</a>, ranked ninth on the list, as an example, noting Sandberg is a business leader, self-made billionaire and uses her influence to drive dialogues on women in leadership through her "lean in" campaign. </p></div>,<div class="group"><p>"This is someone who not only has huge power in the business arena, changing the face of connectivity as we know it, but someone who's also shaping the agenda and driving conversations on critical issues for women," Forbes said. "That is power and that is using it across multiple spheres."<br></p><p> <span class="label-read-more">Read More</span> <a href="https://www.cnbc.com/2014/03/04/women-in-business-females-still-mostly-shut-out-of-boardrooms.html">Boardroom boys club: Women still mostly shut out</a><br></p><div style="height:100%" class="lazyload-placeholder"></div><p> Only three of the top-10 come from the corporate world, likely a side effect of the few female leaders at the largest companies, but the 28 corporate CEOs on the list control around $1.7 trillion in annual revenue and 18 founded their own companies or foundations. </p><p> Angela Merkel, the chancellor of Germany, topped the list, her 10th appearance since the list was created 11 years ago. The second spot went to Janet Yellen, the chief of the U.S. Federal Reserve, in her inaugural appearance on the list. </p><p>Melinda Gates, the co-chair of the Bill &amp; Melinda Gates Foundation, Dilma Rouseff, the president of Brazil, and Christine Lagarde, managing director of the IMF, round out the top five spots, according to Forbes. </p><p> <span class="label-read-more">Read More</span> <a href="https://www.cnbc.com/2014/05/28/constant-inspection-stymies-women-in-power-wolf.html">'Constant inspection' stymies women in power: Wolf</a><br></p><p> Among women who have made the list every year, Hillary Clinton, a former U.S. senator, former U.S. Secretary of State, former First Lady and likely presidential candidate, took the number six spot. </p></div>,<div class="group"><p> Within Asia, Ho Ching, the CEO of Singapore's sovereign wealth fund <a href="//www.cnbc.com/quotes/undefined" target="_blank">Temasek</a>, which has around $170 billion under management, moved up to number 59 from 64 last year. She's been on the list every year since its founding. </p><p> The list also includes some less obvious players, such as list newcomer Yao Chen, a Chinese actress, who ranked at 83. </p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2014/05/08/womenomics-japans-new-growth-bazooka.html">Womenomics: Japan's new growth bazooka? </a><br></p><p> "She's someone who reflects a new dynamic of power, with 51 million followers on <a href="//www.cnbc.com/quotes/WB" target="_blank">Weibo</a>, the largest social media following of any of our listees," Forbes said. "She's become a huge voice for human rights in a country like China. She's become the first U.N. refugee ambassador form the country. So she's leveraging that influence not just for her celebrity brand, but in a positive way to spotlight critical issues." <br></p><p> One high profile dropout from the list this year was Yingluck Shinawatra, who was removed from her post as the prime minister of Thailand shortly before a military coup. Yingluck is currently under house arrest and forbidden from leaving her country. </p><p> <em>—By CNBC.Com's Leslie Shaffer; Follow her on Twitter</em> <a href="https://twitter.com/LeslieShaffer1" target="_blank">@LeslieShaffer1</a></p></div>
Forbes has "leaned in," releasing its annual list of the world's 100 most powerful women, looking largely outside the corporate C-suite for its power players. "We've taken a much more expansive, dynamic look at power, not just traditional power roles such as running a corporation or head of state, but also creative dynamic power," Moira Forbes, president and publisher of ForbesWoman, told CNBC. "Money is always important to look at because it is a form of influence particularly when you're looking at the size of a global business, the impact it has, the size of an economy," Forbes said. "But also we looked at things like social influence." Read More Why am I rich? Wealthy women cite frugality, good advice She cited Sheryl Sandberg, the chief operating officer at Facebook, ranked ninth on the list, as an example, noting Sandberg is a business leader, self-made billionaire and uses her influence to drive dialogues on women in leadership through her "lean in" campaign. "This is someone who not only has huge power in the business arena, changing the face of connectivity as we know it, but someone who's also shaping the agenda and driving conversations on critical issues for women," Forbes said. "That is power and that is using it across multiple spheres." Read More Boardroom boys club: Women still mostly shut out Only three of the top-10 come from the corporate world, likely a side effect of the few female leaders at the largest companies, but the 28 corporate CEOs on the list control around $1.7 trillion in annual revenue and 18 founded their own companies or foundations. Angela Merkel, the chancellor of Germany, topped the list, her 10th appearance since the list was created 11 years ago. The second spot went to Janet Yellen, the chief of the U.S. Federal Reserve, in her inaugural appearance on the list. Melinda Gates, the co-chair of the Bill & Melinda Gates Foundation, Dilma Rouseff, the president of Brazil, and Christine Lagarde, managing director of the IMF, round out the top five spots, according to Forbes. Read More 'Constant inspection' stymies women in power: Wolf Among women who have made the list every year, Hillary Clinton, a former U.S. senator, former U.S. Secretary of State, former First Lady and likely presidential candidate, took the number six spot. Within Asia, Ho Ching, the CEO of Singapore's sovereign wealth fund Temasek, which has around $170 billion under management, moved up to number 59 from 64 last year. She's been on the list every year since its founding. The list also includes some less obvious players, such as list newcomer Yao Chen, a Chinese actress, who ranked at 83. Read MoreWomenomics: Japan's new growth bazooka? "She's someone who reflects a new dynamic of power, with 51 million followers on Weibo, the largest social media following of any of our listees," Forbes said. "She's become a huge voice for human rights in a country like China. She's become the first U.N. refugee ambassador form the country. So she's leveraging that influence not just for her celebrity brand, but in a positive way to spotlight critical issues." One high profile dropout from the list this year was Yingluck Shinawatra, who was removed from her post as the prime minister of Thailand shortly before a military coup. Yingluck is currently under house arrest and forbidden from leaving her country. —By CNBC.Com's Leslie Shaffer; Follow her on Twitter @LeslieShaffer1
2021-10-30 14:11:26.124835
Banks within Wal-Mart stores collecting high fees
https://www.cnbc.com/2014/05/12/banks-within-wal-mart-stores-collecting-high-fees.html
2014-05-12T15:38:19+0000
CNBC.com staff
CNBC
Wal-Mart has a reputation for offering shoppers low prices, but a report in The Wall Street Journal found that the independent banks it houses inside its stores levy some of the highest bank fees, largely as a result of overdraft charges. After analyzing federal filings, the publication found that last year, the five banks that have the largest presence in the discounter's stores were among the top 10 domestic banks in terms of income from fees as a percentage of deposits. Those banks are Fort Sill National Bank, First Convenience Bank, Academy Bank, Woodforest National Bank and City National Bank and Trust Company. Overdraft fees can be a big issue for people struggling financially, as accruing them over time makes it makes it difficult to get out of debt. A Wal-Mart spokesperson told the Journal it plays no part in operating the banks, but that it ensures "they're in line with Wal-Mart's philosophy of saving customers money."To read the full story, click here.
cnbc, Articles, Retail industry, Banks, Walmart Inc, Retail, US: News, DO NOT USE Consumer, Regional Banks, Business News, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1532564490
<div class="group"><p> <a href="//www.cnbc.com/quotes/WMT" target="_blank">Wal-Mart</a> has a reputation for offering shoppers low prices, but <a href="http://online.wsj.com/news/articles/SB10001424052702304734304579515730198367754?mg=reno64-wsj" target="_blank">a report in <em>The Wall Street Journal</em></a> found that the independent banks it houses inside its stores levy some of the highest bank fees, largely as a result of overdraft charges.</p><p> After analyzing federal filings, the publication found that last year, the five banks that have the largest presence in the discounter's stores were among the top 10 domestic banks in terms of income from fees as a percentage of deposits.</p><div style="height:100%" class="lazyload-placeholder"></div><p> Those banks are Fort Sill National Bank, First Convenience Bank, Academy Bank, Woodforest National Bank and City National Bank and Trust Company.</p><p> Overdraft fees can be a big issue for people struggling financially, as accruing them over time makes it makes it difficult to get out of debt.<br></p><p> A Wal-Mart spokesperson told the <em>Journal</em> it plays no part in operating the banks, but that it ensures "they're in line with Wal-Mart's philosophy of saving customers money."</p><p>To read the full story, <a href="http://online.wsj.com/news/articles/SB10001424052702304734304579515730198367754?mg=reno64-wsj" target="_blank">click here</a>.</p></div>
Wal-Mart has a reputation for offering shoppers low prices, but a report in The Wall Street Journal found that the independent banks it houses inside its stores levy some of the highest bank fees, largely as a result of overdraft charges. After analyzing federal filings, the publication found that last year, the five banks that have the largest presence in the discounter's stores were among the top 10 domestic banks in terms of income from fees as a percentage of deposits. Those banks are Fort Sill National Bank, First Convenience Bank, Academy Bank, Woodforest National Bank and City National Bank and Trust Company. Overdraft fees can be a big issue for people struggling financially, as accruing them over time makes it makes it difficult to get out of debt. A Wal-Mart spokesperson told the Journal it plays no part in operating the banks, but that it ensures "they're in line with Wal-Mart's philosophy of saving customers money."To read the full story, click here.
2021-10-30 14:11:26.231448
The Materials Of A Trade
https://www.cnbc.com/2008/03/03/the-materials-of-a-trade.html
2008-03-04T00:25:24+0000
Lee Brodie
CNBC
null
cnbc, Articles, CNBC TV, Fast Money, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1354732729
<div class="group"></div>,<div class="group"><p>In Monday’s Web Extra, Pete Najarian reveals where he’s seeing put buying. Also why stocks are plunging in Japan. This content is only available online - you won't find these trades on TV. <br><br></p><p><br>______________________________________________________<br>Got something to say? Send us an e-mail at <a href="mailto:[email protected]" class="webresource" target="_blank">[email protected]</a> and your comment might be posted on the <em>Rapid Recap</em>! Prefer to keep it between us? You can still send questions and comments to <!-- -->.</p><div style="height:100%" class="lazyload-placeholder"></div><p><em>Trader disclosure: On Mar. 3, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (INTC), (ATVI) (YHOO); Najarian Owns (AAPL), (C), (ETFC), (MS), (MSFT), (XLF); Najarian Owns (COP) Calls; Najarian Owns (YHOO) And (YHOO) Puts; Finerman Owns (GS); Finerman's Firm Owns (AAPL), (MSFT), (TSO), (YHOO), (BJS); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Charles Schwab Is A Sponsor Of "Fast Money"</em></p></div>
In Monday’s Web Extra, Pete Najarian reveals where he’s seeing put buying. Also why stocks are plunging in Japan. This content is only available online - you won't find these trades on TV. ______________________________________________________Got something to say? Send us an e-mail at [email protected] and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to .Trader disclosure: On Mar. 3, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (INTC), (ATVI) (YHOO); Najarian Owns (AAPL), (C), (ETFC), (MS), (MSFT), (XLF); Najarian Owns (COP) Calls; Najarian Owns (YHOO) And (YHOO) Puts; Finerman Owns (GS); Finerman's Firm Owns (AAPL), (MSFT), (TSO), (YHOO), (BJS); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Charles Schwab Is A Sponsor Of "Fast Money"
2021-10-30 14:11:26.384403
CA leaders propose $1B drought relief package
https://www.cnbc.com/2015/03/19/ca-leaders-propose-1b-drought-relief-package.html
2015-03-19T19:43:07+0000
Jacob Pramuk
CNBC
California Gov. Jerry Brown and state leaders unveiled legislation Thursday for a $1 billion drought relief package designed to help the state deal with ongoing dry conditions. "This unprecedented drought continues with no signs yet of letting up," Brown said in a release. "The programs funded by the actions announced today will provide direct relief to workers and communities most impacted by these historic dry conditions."Read More2014 California drought was bad. 2015 will be worseThe package would include funding for safe drinking water and infrastructure projects designed to help the state deal with dry weather.
cnbc, Articles, Legislation, Agriculture, Weather, Weather and Natural Disasters, US: News, Politics, Law, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1532564329
<div class="group"><p> California Gov. Jerry Brown and state leaders unveiled legislation Thursday for a $1 billion drought relief package designed to help the state deal with ongoing dry conditions. </p><p> "This unprecedented drought continues with no signs yet of letting up," Brown said in a release. "The programs funded by the actions announced today will provide direct relief to workers and communities most impacted by these historic dry conditions."<br></p><div style="height:100%" class="lazyload-placeholder"></div><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/03/03/california-drought-seen-having-worsening-3-billion-economic-impact-in-2015.html">2014 California drought was bad. 2015 will be worse</a></p><p>The package would include funding for safe drinking water and infrastructure projects designed to help the state deal with dry weather.</p></div>,<div class="group"><p> It would also accelerate $128 million in funding from Brown's budget to communities heavily affected by the drought, the governor's office said. </p><p> About 93 percent of California remains in at least a severe drought, according to the U.S. Drought Monitor. Drought in the state is expected to causes losses of about $3 billion this year.</p><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/02/10/california-drought-states-tempt-california-dairy-farms--we-have-water.html">Why California's dairy cows are leaving the state</a></p><p> California has pledged more than $870 million to drought relief since last February. Brown has previously called on California residents to reduce their water use.</p></div>
California Gov. Jerry Brown and state leaders unveiled legislation Thursday for a $1 billion drought relief package designed to help the state deal with ongoing dry conditions. "This unprecedented drought continues with no signs yet of letting up," Brown said in a release. "The programs funded by the actions announced today will provide direct relief to workers and communities most impacted by these historic dry conditions."Read More2014 California drought was bad. 2015 will be worseThe package would include funding for safe drinking water and infrastructure projects designed to help the state deal with dry weather. It would also accelerate $128 million in funding from Brown's budget to communities heavily affected by the drought, the governor's office said. About 93 percent of California remains in at least a severe drought, according to the U.S. Drought Monitor. Drought in the state is expected to causes losses of about $3 billion this year.Read MoreWhy California's dairy cows are leaving the state California has pledged more than $870 million to drought relief since last February. Brown has previously called on California residents to reduce their water use.
2021-10-30 14:11:26.589512
Philippines Q1 GDP growth slows to 1.1% q/q
https://www.cnbc.com/2016/05/18/philippines-q1-gdp-growth-slows-to-11-qq.html
2016-05-19T03:03:37+0000
null
CNBC
Philippines' economic growth halved in the first quarter from the previous three-month period as weak exports and agriculture hurt overall output, the statistics agency said on Thursday. The economy grew 1.1 percent in the first quarter, below the 1.6 percent forecast in a Reuters poll, and slower than the upwardly revised 2.1 percent in October-December. From a year earlier, first quarter growth was 6.9 percent, picking up from 6.5 percent in the fourth quarter and stronger than a forecast 6.6 percent. Follow CNBC International on Twitter and Facebook.
cnbc, Articles, Economy, Asia News, Philippines, Business News, US Economy, Economic Reports, GDP, source:tagname:Reuters
https://image.cnbcfm.com…jpg?v=1452131669
<div class="group"><p><a href="https://www.cnbc.com/id/10000170">Philippines'</a> economic growth halved in the first quarter from the previous three-month period as weak exports and agriculture hurt overall output, the statistics agency said on Thursday. </p><p>The economy grew 1.1 percent in the first quarter, below the 1.6 percent forecast in a Reuters poll, and slower than the upwardly revised 2.1 percent in October-December. </p><div style="height:100%" class="lazyload-placeholder"></div><p>From a year earlier, first quarter growth was 6.9 percent, picking up from 6.5 percent in the fourth quarter and stronger than a forecast 6.6 percent. </p><p><em> Follow CNBC International on <a href="https://twitter.com/cnbci" target="_blank">Twitter</a> and <a href="https://www.facebook.com/cnbcinternational" target="_blank">Facebook</a>.</em><br></p></div>
Philippines' economic growth halved in the first quarter from the previous three-month period as weak exports and agriculture hurt overall output, the statistics agency said on Thursday. The economy grew 1.1 percent in the first quarter, below the 1.6 percent forecast in a Reuters poll, and slower than the upwardly revised 2.1 percent in October-December. From a year earlier, first quarter growth was 6.9 percent, picking up from 6.5 percent in the fourth quarter and stronger than a forecast 6.6 percent. Follow CNBC International on Twitter and Facebook.
2021-10-30 14:11:26.630228
Pitbull fallout: Governor wants tourism head to step down
https://www.cnbc.com/2016/12/17/pitbull-fallout-governor-wants-tourism-head-to-step-down.html
2016-12-17T15:07:56+0000
null
CNBC
Gov. Rick Scott wants the head of the state's tourism marketing agency to step down after Visit Florida refused to publicly disclose it paid rapper Pitbull $1 million to promote the state.Scott made the request Friday in a letter sent to the agency's board. The governor is also asking Visit Florida to begin publishing its spending, contracts, salaries, audits and other financial information.The requests comes after Visit Florida refused to make public the contract it had with Pitbull, who recorded a video of the song "Sexy Beaches" to promote Florida.House Speaker Richard Corcoran sued this week to have the contract released, and Pitbull — not Visit Florida — made it public two days later.Scott said it is ridiculous that Visit Florida wasn't transparent about its spending.
cnbc, Articles, US: News, Business News, Economy, US Economy, source:tagname:The Associated Press
https://image.cnbcfm.com…jpg?v=1529469835
<div class="group"><p> Gov. Rick Scott wants the head of the state's tourism marketing agency to step down after Visit Florida refused to publicly disclose it paid rapper Pitbull $1 million to promote the state.</p><p>Scott made the request Friday in a letter sent to the agency's board. The governor is also asking Visit Florida to begin publishing its spending, contracts, salaries, audits and other financial information.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The requests comes after Visit Florida refused to make public the contract it had with Pitbull, who recorded a video of the song "Sexy Beaches" to promote Florida.</p><p>House Speaker Richard Corcoran sued this week to have the contract released, and Pitbull — not Visit Florida — made it public two days later.</p><p>Scott said it is ridiculous that Visit Florida wasn't transparent about its spending.</p><br></div>
Gov. Rick Scott wants the head of the state's tourism marketing agency to step down after Visit Florida refused to publicly disclose it paid rapper Pitbull $1 million to promote the state.Scott made the request Friday in a letter sent to the agency's board. The governor is also asking Visit Florida to begin publishing its spending, contracts, salaries, audits and other financial information.The requests comes after Visit Florida refused to make public the contract it had with Pitbull, who recorded a video of the song "Sexy Beaches" to promote Florida.House Speaker Richard Corcoran sued this week to have the contract released, and Pitbull — not Visit Florida — made it public two days later.Scott said it is ridiculous that Visit Florida wasn't transparent about its spending.
2021-10-30 14:11:26.913081
Georgia's lieutenant governor says he will 'kill' Delta tax break unless airline reinstates relationship with NRA
https://www.cnbc.com/2018/02/26/georgia-lt-gov-will-kill-delta-tax-break-unless-airline-restores-nra-ties.html
2018-02-26T21:26:02+0000
Leslie Josephs
CNBC
Republican politicians in Delta Air Lines' home state of Georgia are striking back at the airline after it decided to scrap discounted airfare for participants in an upcoming National Rifle Association meeting."I will kill any tax legislation that benefits Delta unless the company changes its position and fully reinstates its relationship with the NRA," tweeted Lt. Gov. Casey Cagle, referring to a bill that could save Delta taxes on jet fuel. "Corporations cannot attack conservatives and expect us not to fight back." I will kill any tax legislation that benefits @Delta unless the company changes its position and fully reinstates its relationship with @NRA. Corporations cannot attack conservatives and expect us not to fight back.
cnbc, Articles, Business, Politics, Avis Budget Group Inc, American Airlines Group Inc, Southwest Airlines Co, United Airlines Holdings Inc, Delta Air Lines Inc, Life, Transportation, Travel, Business News, US: News, DO NOT USE Consumer, Airlines, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1531255514
<div class="group"><p>Republican politicians in <a href="//www.cnbc.com/quotes/DAL" target="_blank">Delta Air Lines' </a>home state of Georgia are striking back at the airline after it decided to scrap discounted airfare for participants in an upcoming National Rifle Association meeting.</p><p>"I will kill any tax legislation that benefits Delta unless the company changes its position and fully reinstates its relationship with the NRA," tweeted Lt. Gov. Casey Cagle, referring to a bill that could save Delta taxes on jet fuel. "Corporations cannot attack conservatives and expect us not to fight back."</p><div style="height:100%" class="lazyload-placeholder"></div><p><a href="https://twitter.com/CaseyCagle/status/968199605803454465" target="_blank"> I will kill any tax legislation that benefits @<b>Delta</b> unless the company changes its position and fully reinstates its relationship with @<b>NRA</b>. Corporations cannot attack conservatives and expect us not to fight back. </a></p></div>,<div class="group"><p>Atlanta-based Delta and its competitor <a href="//www.cnbc.com/quotes/UAL" target="_blank">United Airlines</a> over the weekend said they would no longer offer discounts for travel to the meeting in May. The airlines joined a list of other companies, including <a href="//www.cnbc.com/quotes/CAR" target="_blank">Avis Budget Group</a>, <a href="//www.cnbc.com/quotes/HTZZ" target="_blank">Hertz Global Holdings</a> and <a href="//www.cnbc.com/quotes/MET" target="_blank">Metlife</a> that announced they would end their relationship with the gun rights group after 17 people were killed in the mass shooting at Marjory Stoneman Douglas High School in Parkland, Florida, on Feb. 14.</p><p>Candidate for lieutenant governor and former state senator Rick Jeffares tweeted that he is "leading the charge to let Delta know their attack on the NRA and our 2nd Amendment is unacceptable."</p><p><a href="https://twitter.com/RickJeffaresGA/status/968176525550997504" target="_blank">If Delta is so flush that they don't need NRA members h<em>a</em>rd-earned dollars, they can certainly do without the $40 million tax break they are asking GA taxpayers for</a></p><p>After its tweet announcing the end of the NRA discounts, Delta said in a statement that the "decision reflects the airline's neutral status in the current national debate over gun control amid recent school shootings" and that it was taken "out of respect for our customers and employees on both sides." </p><div style="height:100%" class="lazyload-placeholder"></div></div>,<div class="group"><p>The airline added that "it continues to support the Second Amendment."</p><p>On social media, some customers thanked the airlines for taking a stance against the NRA while others said they would take their business to other airlines. Delta is the second-largest airline behind <a href="//www.cnbc.com/quotes/AAL" target="_blank">American Airlines</a>, which does not have such a discount agreement with the NRA, a spokesman said. <a href="//www.cnbc.com/quotes/LUV" target="_blank">Southwest</a> also said it does not have an agreement with the NRA.</p><p>The NRA called the decision of the companies to cut perks to the NRA "a shameful display of political and civic cowardice.</p><p>In time, these brands will be replaced by others who recognize that patriotism and determined commitment to Constitutional freedoms are characteristics of a marketplace they very much want to serve," the NRA added.</p><p>United and Delta had offered airfare discounts of between 2 percent and 10 percent, according to the NRA's website. </p><p>The decision by the two airlines is more "symbolic" and doesn't cut any meaningful discount, said Henry Harteveldt, a travel-industry expert and founder of the consulting group Atmosphere Research Group. After airlines have gone through waves of large mergers many travelers may not have much choice in alternative carriers.</p><p>"You have consolidation," Harteveldt said.</p></div>,<div class="group"></div>,<div class="group"></div>
Republican politicians in Delta Air Lines' home state of Georgia are striking back at the airline after it decided to scrap discounted airfare for participants in an upcoming National Rifle Association meeting."I will kill any tax legislation that benefits Delta unless the company changes its position and fully reinstates its relationship with the NRA," tweeted Lt. Gov. Casey Cagle, referring to a bill that could save Delta taxes on jet fuel. "Corporations cannot attack conservatives and expect us not to fight back." I will kill any tax legislation that benefits @Delta unless the company changes its position and fully reinstates its relationship with @NRA. Corporations cannot attack conservatives and expect us not to fight back. Atlanta-based Delta and its competitor United Airlines over the weekend said they would no longer offer discounts for travel to the meeting in May. The airlines joined a list of other companies, including Avis Budget Group, Hertz Global Holdings and Metlife that announced they would end their relationship with the gun rights group after 17 people were killed in the mass shooting at Marjory Stoneman Douglas High School in Parkland, Florida, on Feb. 14.Candidate for lieutenant governor and former state senator Rick Jeffares tweeted that he is "leading the charge to let Delta know their attack on the NRA and our 2nd Amendment is unacceptable."If Delta is so flush that they don't need NRA members hard-earned dollars, they can certainly do without the $40 million tax break they are asking GA taxpayers forAfter its tweet announcing the end of the NRA discounts, Delta said in a statement that the "decision reflects the airline's neutral status in the current national debate over gun control amid recent school shootings" and that it was taken "out of respect for our customers and employees on both sides." The airline added that "it continues to support the Second Amendment."On social media, some customers thanked the airlines for taking a stance against the NRA while others said they would take their business to other airlines. Delta is the second-largest airline behind American Airlines, which does not have such a discount agreement with the NRA, a spokesman said. Southwest also said it does not have an agreement with the NRA.The NRA called the decision of the companies to cut perks to the NRA "a shameful display of political and civic cowardice.In time, these brands will be replaced by others who recognize that patriotism and determined commitment to Constitutional freedoms are characteristics of a marketplace they very much want to serve," the NRA added.United and Delta had offered airfare discounts of between 2 percent and 10 percent, according to the NRA's website. The decision by the two airlines is more "symbolic" and doesn't cut any meaningful discount, said Henry Harteveldt, a travel-industry expert and founder of the consulting group Atmosphere Research Group. After airlines have gone through waves of large mergers many travelers may not have much choice in alternative carriers."You have consolidation," Harteveldt said.
2021-10-30 14:11:26.955704
Fast Funds: Final Call
https://www.cnbc.com/2007/07/04/fast-funds-final-call.html
2007-07-05T00:57:16+0000
Carlo Dellaverson
CNBC
So what do the guys think is the best ETF overall?Jeff Macke says it’s the EWA, the Australian ETF that services the explosion in China without all the volatility. Australia is a long-term growth story, he says. Pete Najarian loves the refiners, and thinks PXE is the best ETF to play them. Guy Adami likes the German EWG for its financial and utilities spin. Eric Bolling has two dividend-yielding ETFs: the DVY as a domestic play and the PID for international exposure.
cnbc, Articles, CNBC TV, Fast Money, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1354732729
<div class="group"><p>So what do the guys think is the best ETF overall?</p><p>Jeff Macke says it’s the <strong>EWA</strong>, the Australian ETF that services the explosion in China without all the volatility. Australia is a long-term growth story, he says. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Pete Najarian loves the refiners, and thinks <strong>PXE</strong> is the best ETF to play them. </p><p>Guy Adami likes the German <strong>EWG </strong>for its financial and utilities spin. </p><p>Eric Bolling has two dividend-yielding ETFs: the <strong>DVY </strong>as a domestic play and the <strong>PID </strong>for international exposure. </p></div>,<div class="group"><p><br>_________________________________________<br>Got something to say? Send us an e-mail at <a href="mailto:[email protected]" class="webresource" target="_blank">[email protected]</a> and your comment might be posted on the <em>Rapid Recap</em>! Prefer to keep it between us? You can still send questions and comments to <!-- -->.</p><p><em>Trader disclosure: On July 3rd 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders </em><em>Macke Owns (DIS); Najarian Owns (DNDN), (ERIC), (HLT), (JNPR (CBH), (IMMR); </em>Najarian Closed Out Of (BIDU) Today; <em>Bolling Owns (DIS), (T), (XOM), Natural Gas, Corn; </em>Najarian Owned (HOT) On 6/4/07</p></div>
So what do the guys think is the best ETF overall?Jeff Macke says it’s the EWA, the Australian ETF that services the explosion in China without all the volatility. Australia is a long-term growth story, he says. Pete Najarian loves the refiners, and thinks PXE is the best ETF to play them. Guy Adami likes the German EWG for its financial and utilities spin. Eric Bolling has two dividend-yielding ETFs: the DVY as a domestic play and the PID for international exposure. _________________________________________Got something to say? Send us an e-mail at [email protected] and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to .Trader disclosure: On July 3rd 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders Macke Owns (DIS); Najarian Owns (DNDN), (ERIC), (HLT), (JNPR (CBH), (IMMR); Najarian Closed Out Of (BIDU) Today; Bolling Owns (DIS), (T), (XOM), Natural Gas, Corn; Najarian Owned (HOT) On 6/4/07
2021-10-30 14:11:27.110423
Dow closes 380 points lower, snaps longest monthly win streak since 1959
https://www.cnbc.com/2018/02/28/us-stocks-interest-rates-fed-markets.html
2018-02-28T14:30:29+0000
Fred Imbert
CNBC
U.S. stocks fell sharply in choppy trade Wednesday, giving up earlier gains, as Wall Street wrapped up a volatile month for the major averages.The Dow Jones industrial average closed 380.83 points lower at 25,029.20, with Caterpillar as the worst-performing stock in the index.More than half of the day's losses came in the final hour of trading with the Dow losing more than 240 points in the final 60 minutes.The pulled back 0.9 percent to close at 2,713.83, with energy as the worst-performing sector. The Nasdaq composite ended 0.8 percent lower at 7,273.01.Jeff Kilburg, CEO of KKM Financial said the S&P 500 dipped below its 50-day moving average late in the session. "That forces some technical selling pressure and flushes out some weak longs," he said.Earlier in the session, the S&P 500 and Nasdaq rose as much as 0.6 percent and 0.7 percent, respectively. The Dow gained as much as 166.12 points. The Dow and S&P 500 snapped 10-month winning streaks, their longest since 1959. The Nasdaq posted a monthly loss for the first time in eight months. For the month, the Dow and S&P 500 closed lower by 4.3 percent and 3.9 percent, respectively. The Nasdaq closed February down 1.9 percent.February was a volatile month for stocks. The major averages dipped in correction territory earlier this month, falling 10 percent from record highs set on Jan. 26. The move lower came as fears of rising inflation sent rates higher and sent market volatility surging after a year of unprecedented calm."The volatility is being caused by one overarching theme: The market doesn't know what to expect from the Fed," said Tom Essaye, founder of The Sevens Report. "There's uncertainty around that and it's going to continue for the next several months."
cnbc, Articles, Lowe's Companies Inc, NASDAQ Composite, S&P 500 Index, Dow Jones Industrial Average, Goldman Sachs Group Inc, Markets, US: News, U.S. Markets, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1572020398
<div class="group"><p>U.S. stocks fell sharply in choppy trade Wednesday, giving up earlier gains, as Wall Street wrapped up a volatile month for the major averages.</p><p>The <a href="https://www.cnbc.com/quotes/.DJI">Dow Jones industrial average</a> closed 380.83 points lower at 25,029.20, with Caterpillar as the worst-performing stock in the index.</p><div style="height:100%" class="lazyload-placeholder"></div><p>More than half of the day's losses came in the final hour of trading with the Dow losing more than 240 points in the final 60 minutes.</p><p></p><div class="InlineImage-imageEmbed" id="ArticleBody-InlineImage-undefined" data-test="InlineImage"><div class="InlineImage-wrapper InlineImage-wrapperNoCaption"><div class="InlineImage-imagePlaceholder" style="padding-bottom:55.55555555555556%"><div style="height:100%" class="lazyload-placeholder"></div></div><div><div class="InlineImage-imageEmbedCaption"></div><div class="InlineImage-imageEmbedCredit"></div></div></div></div><p>The <!-- --> pulled back 0.9 percent to close at 2,713.83, with energy as the worst-performing sector. The <a href="https://www.cnbc.com/quotes/.IXIC">Nasdaq composite</a> ended 0.8 percent lower at 7,273.01.</p><p><span>Jeff Kilburg, CEO of KKM Financial said the S&amp;P 500 dipped below its 50-day moving average late in the session. "That forces some technical selling pressure and flushes out some weak longs," he said.</span></p><p><span>Earlier in the session, the S&amp;P 500 and Nasdaq rose as much as 0.6 percent and 0.7 percent, respectively. The Dow gained as much as 166.12 points. </span></p><div style="height:100%" class="lazyload-placeholder"></div><p>The Dow and S&amp;P 500 snapped 10-month winning streaks, their longest since 1959. The Nasdaq posted a monthly loss for the first time in eight months. For the month, the Dow and S&amp;P 500 closed lower by 4.3 percent and 3.9 percent, respectively. The Nasdaq closed February down 1.9 percent.</p><p>February was a volatile month for stocks. The major averages dipped in correction territory earlier this month, falling 10 percent from record highs set on Jan. 26. The move lower came as fears of rising inflation sent rates higher and sent market volatility surging after a year of unprecedented calm.</p><p>"The volatility is being caused by one overarching theme: The market doesn't know what to expect from the Fed," said Tom Essaye, founder of The Sevens Report. "There's uncertainty around that and it's going to continue for the next several months."</p></div>,<div class="group"><p>But the Dow, S&amp;P 500 and Nasdaq had recovered some of those losses as of Wednesday's close. The Dow and S&amp;P 500 are 6 percent and 5.5 percent, respectively, below their all-time highs, while the Nasdaq was 3.1 percent away.</p><p>Stocks rose earlier on Wednesday as interest rates stabilized. On Tuesday, the 10-year U.S. note yield jumped about five basis points to over 2.9 percent after Federal Reserve Chair Jerome Powell hinted at the possibility of more than three rate hikes for 2018 in his testimony to Congress members.</p><p>Powell's testimony also sent stocks reeling. The Dow closed nearly 300 points lower, while the S&amp;P 500 and Nasdaq finished the previous session down 1.3 percent and 1.2 percent, respectively.</p><p>"Valuations keep getting stretched," said Eric Ervin, CEO of Reality Shares. "As long as rates remain low, the market can justify them. But as rates go higher, then we have to have higher earnings growth. The question is can companies sustain this."</p><p>Powell is scheduled to testify in front of Congress again on Thursday.</p><p>In corporate news, home improvement retailer <a href="//www.cnbc.com/quotes/LOW" target="_blank">Lowe's</a> reported weaker-than-expected quarterly earnings, sending the company's stock down more than 6 percent. </p><p><a href="//www.cnbc.com/quotes/BKNG" target="_blank">Booking Holdings</a> — formerly known as Priceline — saw its shares spike more than 6 percent after reporting better-than-expected adjusted earnings.</p><p><em>Correction: Powell is scheduled to testify in front of Congress on Thursday. A previous version of this story misstated the day.</em></p></div>,<div class="group"></div>,<div class="group"></div>
U.S. stocks fell sharply in choppy trade Wednesday, giving up earlier gains, as Wall Street wrapped up a volatile month for the major averages.The Dow Jones industrial average closed 380.83 points lower at 25,029.20, with Caterpillar as the worst-performing stock in the index.More than half of the day's losses came in the final hour of trading with the Dow losing more than 240 points in the final 60 minutes.The pulled back 0.9 percent to close at 2,713.83, with energy as the worst-performing sector. The Nasdaq composite ended 0.8 percent lower at 7,273.01.Jeff Kilburg, CEO of KKM Financial said the S&P 500 dipped below its 50-day moving average late in the session. "That forces some technical selling pressure and flushes out some weak longs," he said.Earlier in the session, the S&P 500 and Nasdaq rose as much as 0.6 percent and 0.7 percent, respectively. The Dow gained as much as 166.12 points. The Dow and S&P 500 snapped 10-month winning streaks, their longest since 1959. The Nasdaq posted a monthly loss for the first time in eight months. For the month, the Dow and S&P 500 closed lower by 4.3 percent and 3.9 percent, respectively. The Nasdaq closed February down 1.9 percent.February was a volatile month for stocks. The major averages dipped in correction territory earlier this month, falling 10 percent from record highs set on Jan. 26. The move lower came as fears of rising inflation sent rates higher and sent market volatility surging after a year of unprecedented calm."The volatility is being caused by one overarching theme: The market doesn't know what to expect from the Fed," said Tom Essaye, founder of The Sevens Report. "There's uncertainty around that and it's going to continue for the next several months."But the Dow, S&P 500 and Nasdaq had recovered some of those losses as of Wednesday's close. The Dow and S&P 500 are 6 percent and 5.5 percent, respectively, below their all-time highs, while the Nasdaq was 3.1 percent away.Stocks rose earlier on Wednesday as interest rates stabilized. On Tuesday, the 10-year U.S. note yield jumped about five basis points to over 2.9 percent after Federal Reserve Chair Jerome Powell hinted at the possibility of more than three rate hikes for 2018 in his testimony to Congress members.Powell's testimony also sent stocks reeling. The Dow closed nearly 300 points lower, while the S&P 500 and Nasdaq finished the previous session down 1.3 percent and 1.2 percent, respectively."Valuations keep getting stretched," said Eric Ervin, CEO of Reality Shares. "As long as rates remain low, the market can justify them. But as rates go higher, then we have to have higher earnings growth. The question is can companies sustain this."Powell is scheduled to testify in front of Congress again on Thursday.In corporate news, home improvement retailer Lowe's reported weaker-than-expected quarterly earnings, sending the company's stock down more than 6 percent. Booking Holdings — formerly known as Priceline — saw its shares spike more than 6 percent after reporting better-than-expected adjusted earnings.Correction: Powell is scheduled to testify in front of Congress on Thursday. A previous version of this story misstated the day.
2021-10-30 14:11:27.154787
Cramer’s Top 6 Comeback Stocks for 2010
https://www.cnbc.com/2010/07/26/Cramers-Top-6-Comeback-Stocks-for-2010.html
2010-07-26T14:19:22+0000
null
CNBC
Down big in the first half of the year, up big in the second – that is Cramer’s latest investing thesis.The Mad Money host found a number of stocks, culled from the S&P 500’s worst-performing sectors, that he thinks offers a tremendous amount of snapback potential. One of them, in fact, has lost almost half its value so far in 2010, but Cramer said it could end up being one of the best stocks to own over the next six months. The others, whose loses may not be as severe, still stand up as very attractive buys for the rest of the year, Cramer said. Investors who agree with him probably want to buy in now, as these picks won’t stay secret for long.Read on for the Top 6 Comeback Stocks of 2010.Posted 26 July 2010
cnbc, Articles, AK Steel Holding Corp, Abbott Laboratories, Jabil Circuit Inc, NVIDIA Corp, Verizon Communications Inc, CNBC TV, Mad Money, source:tagname:CNBC US Source
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<div class="group"><p>Down big in the first half of the year, up big in the second – that is Cramer’s latest investing thesis.<br><br>The Mad Money host found a number of stocks, culled from the S&amp;P 500’s worst-performing sectors, that he thinks offers a tremendous amount of snapback potential. One of them, in fact, has lost almost half its value so far in 2010, but Cramer said it could end up being one of the best stocks to own over the next six months. <br><br>The others, whose loses may not be as severe, still stand up as very attractive buys for the rest of the year, Cramer said. Investors who agree with him probably want to buy in now, as these picks won’t stay secret for long.<br><br>Read on for the Top 6 Comeback Stocks of 2010.<br><br><em>Posted 26 July 2010</em></p></div>,<div class="group"><p>When Cramer highlighted Verizon on July 12, the stock had fallen 15% over the first six months of 2010. They may come as little surprise given that telecommunications was the S&amp;P 500’s worst-of-the-worst sector over the same time period, but Cramer is expecting a turnaround here, at least for Verizon.<br><br>He said the company holds “huge opportunities” in the wireless space, where it owns 55% of the second-largest carrier in the industry, Verizon Wireless. And with the “reaffirmed rumors” that the company will start selling the Apple iPhone in January 2011, “I think … Verizon should lead the industry in terms of market share gains,” given how much of a game-changer the handset was for AT&amp;T. <br><br>And that’s not even taking into account smartphones as a whole. Only 17% of the company’s wireless subscribers own true smartphones, leaving open a huge opportunity for revenue growth as they make the switch.<br><br><a href="https://www.cnbc.com/2010/07/12/telcos-biggest-loser-this-year.html">Click here for more on Verizon.</a><br></p></div>,<div class="group"><div style="height:100%" class="lazyload-placeholder"></div><p>Cramer thinks this graphics chipmaker, down 40% in the first half of the year, should snap back thanks to a number of new revenue-driving products for gaming PCs, notebooks, netbooks tablets and smartphones. There’s also new visual computing software, like Adobe’s Creative Suite 5, require NVIDIA’s high-end semiconductors, also giving a boost to revenues.<br><br>The company’s ION chips for notebook computers are in 70 laptop designs, 50 of which are scheduled to start production in the next six months. And NVIDIA’s chip for smartphones and tablets should be in a whole slew of products that are also going into production during the last part of the year.<br><br>For these reasons, NVDA should be ramping ahead of these products launches, not losing nearly half its share-price value. And that’s why Cramer thinks the stock could be “one of the biggest gainers in the second half” of 2010.<br><br><a href="https://www.cnbc.com/2010/07/13/techs-comeback-kids.html">Click here for more on NVIDIA.</a><br></p></div>,<div class="group"><p>Oddly, Jabil’s stock took a 15% hit over the first two quarters of the year, even though the company’s June 22 earnings report showed a business that is firing on all cylinders. The problem? Too much exposure to Europe – as much as 31% of Jabil’s production ends up on the Continent – and that has sent investors running. <br><br>According to the company, though, there has been no slowdown in business there. So that collective freak-out was all for naught. And as Europe comes back, Cramer said, so should JBL. Investors might consider buying the stock now given how cheap it is.<br><br><a href="https://www.cnbc.com/2010/07/13/techs-comeback-kids.html">Click here for more on Jabil Circuit.</a><br></p></div>,<div class="group"><p>The catalyst for this stock’s rebound will most likely be study that Range Resource conducted on its drilling practices that flew in the face of environmentalists everywhere. <br><br>Hydraulic fracturing, or fracking, is a process by which natural-gas drillers like RRC use large amounts of water with some chemical additives to boost production, and there had been concerns from both environmentalists and the Environmental Protection Agency that it could contaminate drinking water – even though there never been any documented cases of that contamination.<br><br>Well, Range Resources in July disclosed that , for its Marcellus shale wells, 99.86% of its drilling fluid consists of water and sand, with just 0.14% comprising highly diluted chemicals. RRC was the first company to “open its books,” so to speak, in this way, and RRC rallied accordingly.<br><br>“I think maybe this the beginning of a major turn in the stock,” Cramer said.<br><br><a href="https://www.cnbc.com/2010/07/14/range-resources-set-for-a-major-rebound.html">Click here for more on Range Resources.</a><br></p></div>,<div class="group"><p>This health-care company lost 11.4% of its value this year, in part, because of its exposure to Europe – 24% of the company's sales come from the Continent. But Cramer thinks this will become less of an issue in the second half of the year, as CEO Miles White has vowed to take a conservative stance on European business.<br><br>Cramer also likes the pharmaceutical company's range of drugs and little exposure to generics. Its flagship product, Humira, is a psoriasis drug and anti-inflammatory, which makes up 35% of the company's sales and is growing by 20%.<br><br>The Abbott Park, Ill.-based company is also making "savvy" acquisitions in emerging markets, including India, which is an $8 billion pharmaceutical market that's expected to double in size by 2015. <br><br>Plus, the company boasts a 3.6% dividend yield and, for the last 38 years, has increased its payout every year. 2010 should be no different, Cramer said, because it's growing earnings at 11% annually, which is twice the pace of other pharmaceuticals.<br><br><a href="https://www.cnbc.com/2010/07/15/healthcares-most-underrated-stock.html">Click here for more on Abbott Labs.</a><br></p></div>,<div class="group"><p>This West Chester, Ohio-based steel company struggled in the first half of the year, posting a 37% decline year-to-date. Cramer didn't like this stock at first because it's not a vertically-integrated steel maker, meaning it doesn't have its own mines and needs to buy its primary raw materials. In other words, AK Steel's operating costs were very high.<br><br>But Cramer thinks this stock could be poised for a turnaround, as those costs have since plummeted. He also likes the company's management, who reduced the employee headcount by 30% while maintaining the same production capacity. At the same time, the company has used more than $2 billion of internally generated cash to shore up its balance sheet. It has also managed to muddle through the recession without selling equity, issuing debt or cutting its small dividend, which has a 1.4% yield.<br><br>Click here for more on AK Steel.<br></p></div>
Down big in the first half of the year, up big in the second – that is Cramer’s latest investing thesis.The Mad Money host found a number of stocks, culled from the S&P 500’s worst-performing sectors, that he thinks offers a tremendous amount of snapback potential. One of them, in fact, has lost almost half its value so far in 2010, but Cramer said it could end up being one of the best stocks to own over the next six months. The others, whose loses may not be as severe, still stand up as very attractive buys for the rest of the year, Cramer said. Investors who agree with him probably want to buy in now, as these picks won’t stay secret for long.Read on for the Top 6 Comeback Stocks of 2010.Posted 26 July 2010When Cramer highlighted Verizon on July 12, the stock had fallen 15% over the first six months of 2010. They may come as little surprise given that telecommunications was the S&P 500’s worst-of-the-worst sector over the same time period, but Cramer is expecting a turnaround here, at least for Verizon.He said the company holds “huge opportunities” in the wireless space, where it owns 55% of the second-largest carrier in the industry, Verizon Wireless. And with the “reaffirmed rumors” that the company will start selling the Apple iPhone in January 2011, “I think … Verizon should lead the industry in terms of market share gains,” given how much of a game-changer the handset was for AT&T. And that’s not even taking into account smartphones as a whole. Only 17% of the company’s wireless subscribers own true smartphones, leaving open a huge opportunity for revenue growth as they make the switch.Click here for more on Verizon.Cramer thinks this graphics chipmaker, down 40% in the first half of the year, should snap back thanks to a number of new revenue-driving products for gaming PCs, notebooks, netbooks tablets and smartphones. There’s also new visual computing software, like Adobe’s Creative Suite 5, require NVIDIA’s high-end semiconductors, also giving a boost to revenues.The company’s ION chips for notebook computers are in 70 laptop designs, 50 of which are scheduled to start production in the next six months. And NVIDIA’s chip for smartphones and tablets should be in a whole slew of products that are also going into production during the last part of the year.For these reasons, NVDA should be ramping ahead of these products launches, not losing nearly half its share-price value. And that’s why Cramer thinks the stock could be “one of the biggest gainers in the second half” of 2010.Click here for more on NVIDIA.Oddly, Jabil’s stock took a 15% hit over the first two quarters of the year, even though the company’s June 22 earnings report showed a business that is firing on all cylinders. The problem? Too much exposure to Europe – as much as 31% of Jabil’s production ends up on the Continent – and that has sent investors running. According to the company, though, there has been no slowdown in business there. So that collective freak-out was all for naught. And as Europe comes back, Cramer said, so should JBL. Investors might consider buying the stock now given how cheap it is.Click here for more on Jabil Circuit.The catalyst for this stock’s rebound will most likely be study that Range Resource conducted on its drilling practices that flew in the face of environmentalists everywhere. Hydraulic fracturing, or fracking, is a process by which natural-gas drillers like RRC use large amounts of water with some chemical additives to boost production, and there had been concerns from both environmentalists and the Environmental Protection Agency that it could contaminate drinking water – even though there never been any documented cases of that contamination.Well, Range Resources in July disclosed that , for its Marcellus shale wells, 99.86% of its drilling fluid consists of water and sand, with just 0.14% comprising highly diluted chemicals. RRC was the first company to “open its books,” so to speak, in this way, and RRC rallied accordingly.“I think maybe this the beginning of a major turn in the stock,” Cramer said.Click here for more on Range Resources.This health-care company lost 11.4% of its value this year, in part, because of its exposure to Europe – 24% of the company's sales come from the Continent. But Cramer thinks this will become less of an issue in the second half of the year, as CEO Miles White has vowed to take a conservative stance on European business.Cramer also likes the pharmaceutical company's range of drugs and little exposure to generics. Its flagship product, Humira, is a psoriasis drug and anti-inflammatory, which makes up 35% of the company's sales and is growing by 20%.The Abbott Park, Ill.-based company is also making "savvy" acquisitions in emerging markets, including India, which is an $8 billion pharmaceutical market that's expected to double in size by 2015. Plus, the company boasts a 3.6% dividend yield and, for the last 38 years, has increased its payout every year. 2010 should be no different, Cramer said, because it's growing earnings at 11% annually, which is twice the pace of other pharmaceuticals.Click here for more on Abbott Labs.This West Chester, Ohio-based steel company struggled in the first half of the year, posting a 37% decline year-to-date. Cramer didn't like this stock at first because it's not a vertically-integrated steel maker, meaning it doesn't have its own mines and needs to buy its primary raw materials. In other words, AK Steel's operating costs were very high.But Cramer thinks this stock could be poised for a turnaround, as those costs have since plummeted. He also likes the company's management, who reduced the employee headcount by 30% while maintaining the same production capacity. At the same time, the company has used more than $2 billion of internally generated cash to shore up its balance sheet. It has also managed to muddle through the recession without selling equity, issuing debt or cutting its small dividend, which has a 1.4% yield.Click here for more on AK Steel.
2021-10-30 14:11:27.267245
What Apple’s $100 Billion Really Means
https://www.cnbc.com/2012/01/25/what-apples-100-billion-really-means.html
2012-01-25T20:27:04+0000
John Carney
CNBC
Apple’s jaw-dropping announcement that it had nearly $100 billion in cash on hand at the end of the last quarter has many people scrambling for ideas about what Apple should do with all that loot.Apple said this week it ended the last quarter and the year with $97.6 billion in cash, to be exact — much of it held overseas for tax purposes. By comparison, that's twice as much cash as Google, which ended the year with $44.6 billion in the bank.
cnbc, Articles, Microsoft Corp, Apple Inc, Alphabet Class A, CNBC EVENTS, NetNet, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1354732729
<div class="group"><p>Apple’s jaw-dropping announcement that it had nearly $100 billion in cash on hand at the end of the last quarter has many people scrambling for ideas about what Apple should do with all that loot.</p><p>Apple said this week it ended the last quarter and the year with $97.6 billion in cash, to be exact — much of it held overseas for tax purposes. By comparison, that's twice as much cash as Google, which ended the year with $44.6 billion in the bank. </p></div>,<div class="group"><div style="height:100%" class="lazyload-placeholder"></div><p>Apple officials said the company is discussing ways to use the cash.  There’s some speculation that they could use it to build out the supply chain, lending money to their suppliers to bolster productivity, or perhaps increase their investment in Apple TV. </p><p>Many investors, of course, would like the see the company pay a dividend. But the low multiple to earnings suggests that the market doesn’t see this in the offing. </p><p>The main problem with a company that has accumulated a huge amount of cash is the temptation to do something foolish with it. Acquisitions, for instance, tend to increase when companies find themselves with an abundance of cash.  This seems unlikely in the case of Apple, since there appears to be few acquisition opportunities that wouldn’t raise antitrust concerns. </p><p>What most people do not appreciate about cash is that it is a strategic asset. Cash holdings might appear to do nothing in good times, but when credit constricts or markets wobble — and usually these things happen together — he who lives with the most cash wins. </p><p>It's tempting to think of Apple's cash hoard as a shield it can hide behind in tough times. But that's not quite right. It's more like a sword — a weapon to strike against weaker rivals. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Companies with large cash holdings are reliably able to capture market share from cash-constrained competitors. Where the cash-poor competitors are forced to cut costs, reduce marketing and slow expansion if consumer demand slows, the cash rich can pour even more resources into hiring, marketing and development. They can use a crisis as an opportunity. </p><p>This is competition at its bloodiest. You can see why so many of the other top tech companies — such as Google and Microsoft — are also accumulating cash. They are all attempting to assure that if global markets take a downturn, they can keep flying high. </p><p><strong><em>Questions? Comments? Email us at</em></strong></p><p><strong><em>Follow John on Twitter @ twitter.com/Carney</em></strong></p><p><strong><em>Follow NetNet on Twitter @ twitter.com/CNBCnetnet</em></strong></p><p><strong><em>Facebook us @ </em></strong></p></div>
Apple’s jaw-dropping announcement that it had nearly $100 billion in cash on hand at the end of the last quarter has many people scrambling for ideas about what Apple should do with all that loot.Apple said this week it ended the last quarter and the year with $97.6 billion in cash, to be exact — much of it held overseas for tax purposes. By comparison, that's twice as much cash as Google, which ended the year with $44.6 billion in the bank. Apple officials said the company is discussing ways to use the cash.  There’s some speculation that they could use it to build out the supply chain, lending money to their suppliers to bolster productivity, or perhaps increase their investment in Apple TV. Many investors, of course, would like the see the company pay a dividend. But the low multiple to earnings suggests that the market doesn’t see this in the offing. The main problem with a company that has accumulated a huge amount of cash is the temptation to do something foolish with it. Acquisitions, for instance, tend to increase when companies find themselves with an abundance of cash.  This seems unlikely in the case of Apple, since there appears to be few acquisition opportunities that wouldn’t raise antitrust concerns. What most people do not appreciate about cash is that it is a strategic asset. Cash holdings might appear to do nothing in good times, but when credit constricts or markets wobble — and usually these things happen together — he who lives with the most cash wins. It's tempting to think of Apple's cash hoard as a shield it can hide behind in tough times. But that's not quite right. It's more like a sword — a weapon to strike against weaker rivals. Companies with large cash holdings are reliably able to capture market share from cash-constrained competitors. Where the cash-poor competitors are forced to cut costs, reduce marketing and slow expansion if consumer demand slows, the cash rich can pour even more resources into hiring, marketing and development. They can use a crisis as an opportunity. This is competition at its bloodiest. You can see why so many of the other top tech companies — such as Google and Microsoft — are also accumulating cash. They are all attempting to assure that if global markets take a downturn, they can keep flying high. Questions? Comments? Email us atFollow John on Twitter @ twitter.com/CarneyFollow NetNet on Twitter @ twitter.com/CNBCnetnetFacebook us @
2021-10-30 14:11:27.460836
US Treasurys lower as investors focus on data, monitor Russia-US relations
https://www.cnbc.com/2017/07/31/us-treasurys-lower-as-investors-focus-on-earnings-monitor-russia-us-relations.html
2017-07-31T19:31:48+0000
Silvia Amaro
CNBC
U.S. government debt prices were lower on Monday morning as investors monitored U.S.-Russia relations and digest new earnings reports.The yield on the benchmark 10-year Treasury notes sat at 2.291 while the yield on the 30-year Treasury bond was slightly higher at 2.894 percent. Bond yields move inversely to prices.
cnbc, Articles, Bonds, U.S. 10 Year Treasury, U.S. 2 Year Treasury, U.S. 5 Year Treasury, iShares Core U.S. Aggregate Bond ETF, Vanguard Total Bond Market Index Fund ETF Shares, Markets, source:tagname:
https://image.cnbcfm.com…jpg?v=1560996858
<div class="group"><p>U.S. government debt prices were lower on Monday morning as investors monitored U.S.-Russia relations and digest new earnings reports.</p><p>The yield on the benchmark <a href="https://www.cnbc.com/quotes/US10Y">10-year Treasury notes</a> sat at 2.291 while the yield on the 30-year Treasury bond was slightly higher at 2.894 percent. Bond yields move inversely to prices.</p></div>,<div class="group"><div style="height:100%" class="lazyload-placeholder"></div><p>A monthly index of signed contracts to purchase existing homes <a href="https://www.cnbc.com/2017/07/31/june-pending-home-sales-edge-up-1-point-5-percent-but-spring-market-stalled.html">increased 1.5 percent in June compared to May</a>, and May's figure was revised slightly higher, according to the National Association of Realtors.</p><p>Also on the data front, manufacturing activity across Texas rose at a faster pace in July than in June, according to the Federal Reserve Bank of Dallas's production index. The Dallas Fed's production index, a key measure of manufacturing conditions in the state, rose 11 points to 22.8, while its general business activity index edged higher to 16.8.</p><p>The White House dramas continued in the afternoon after <a href="https://www.cnbc.com/2017/07/31/trump-removes-anthony-scaramucci-from-communications-director-role-ny-times.html">President Donald Trump removed newly-appointed Anthony Scaramucci</a> as communications director. The decision came at the request of John Kelly, the president's new chief of staff, according to the New York Times.</p><p>On Friday, the Kremlin has told the United States it needs to cut 755 of its staff members in Russia and further measures could be taken as a result of new sanctions against the Moscow.</p><p>In commodity markets, prices hit a two-month high on Monday morning as the U.S. considers sanctions against Venezuela. <a href="https://www.cnbc.com/quotes/@LCO.1.S">Brent</a> was trading higher at $52.62 and <a href="https://www.cnbc.com/quotes/CRUD-GB">WTI</a> stood at $50.15.</p></div>
U.S. government debt prices were lower on Monday morning as investors monitored U.S.-Russia relations and digest new earnings reports.The yield on the benchmark 10-year Treasury notes sat at 2.291 while the yield on the 30-year Treasury bond was slightly higher at 2.894 percent. Bond yields move inversely to prices.A monthly index of signed contracts to purchase existing homes increased 1.5 percent in June compared to May, and May's figure was revised slightly higher, according to the National Association of Realtors.Also on the data front, manufacturing activity across Texas rose at a faster pace in July than in June, according to the Federal Reserve Bank of Dallas's production index. The Dallas Fed's production index, a key measure of manufacturing conditions in the state, rose 11 points to 22.8, while its general business activity index edged higher to 16.8.The White House dramas continued in the afternoon after President Donald Trump removed newly-appointed Anthony Scaramucci as communications director. The decision came at the request of John Kelly, the president's new chief of staff, according to the New York Times.On Friday, the Kremlin has told the United States it needs to cut 755 of its staff members in Russia and further measures could be taken as a result of new sanctions against the Moscow.In commodity markets, prices hit a two-month high on Monday morning as the U.S. considers sanctions against Venezuela. Brent was trading higher at $52.62 and WTI stood at $50.15.
2021-10-30 14:11:27.787573
Market Anxiety Hits Transports, Russell 2000, Nasdaq
https://www.cnbc.com/2012/04/16/market-anxiety-hits-transports-russell-2000-nasdaq.html
2012-04-16T16:44:20+0000
Bob Pisani
CNBC
Apple as a non-confirmation? It started in the middle of February: Transports failed to keep advancing with the Industrials. At the time, the failure was blamed on higher fuel prices; indeed, oil prices hit a 10-month high as we closed out that month.That was the first non-confirmation that got bears going.
cnbc, Articles, Commodity markets, U.S. dollar, Broadcom Inc, NASDAQ Composite, Netflix Inc, Reliance Steel & Aluminum Co, Seagate Technology Holdings PLC, Apple Inc, Futures & Commodities, U.S. Dollar, DOW 30, Markets, U.S. Markets, Market Insider, Trader Talk, source:tagname:CNBC US Source
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<div class="group"><p><strong>Apple</strong> as a non-confirmation? It started in the middle of February: Transports failed to keep advancing with the Industrials. At the time, the failure was blamed on higher fuel prices; indeed, <a href="https://www.cnbc.com/futures-and-commodities/">oil prices</a> hit a 10-month high as we closed out that month.</p><p>That was the first non-confirmation that got bears going. </p></div>,<div class="group"><div style="height:100%" class="lazyload-placeholder"></div><p>Then, as we moved into a new quarter in April, it was noted that the small-cap Russell 2000 began underperforming the S&amp;P 500. It is a modest underperformance (down 4.7 percent for the month vs. the down 2.9 percent S&amp;P underperformance) but it too has been seized upon by bears as a sign that U.S. growth — even with modest expectations of 2.5 percent GDP growth — may be moderating. </p><p>Now, the Nasdaq — which has dramatically outperformed the S&amp;P 500 all year (up 14.5 percent vs. 8.7 percent), is underperforming — but only for today. Volume on the Nasdaq is slightly higher than normal. </p><p>It's not just Apple , plenty of other companies like Seagate, Broadcomm and even Netflix have turned in stellar performances this year. </p><p>I know everyone is worried about AAPL down 5 days in a row, but this is the first day the Nasdaq has significantly underperformed. </p><p>It's a sign of the power of AAPL that even a one-day drop has traders wondering. </p><div style="height:100%" class="lazyload-placeholder"></div><p>This is tricky. Apple, by traditional valuation metrics, is not overpriced. But the investor concentration in the name, along with a 50 percent runup in a little more than three months, has got many nervous. </p><p>And the bears have noted for weeks that estimates — and price targets — for AAPL have continued to climb. </p><p>Glass half empty? Economic data very mixed this morning: positive retail sales, but the Street is concentrating on the lower than expected housing and Empire Manufacturing figures. </p><p>The National Association of Home Builders Sentiment Index got an unusual amount of commentary this week, largely because of this comment from Chief Economist David Crowe: "Interest expressed by buyers in the past few months has yet to translate into expected sales activity." </p><p>Not all negative news: Reliance Steel   this morning increased its Q1 guidance to $1.50, well above prior guidance of $1.22-$1.40 and above consensus of $1.29. CEO David Hanna attributed the higher guidance to better pricing and "somewhat stronger" demand. RS is primarily a U.S.-based producer; their core business operates service centers that distribute metal products all over the U.S. </p><p>_____________________________<br><strong><em>Bookmark CNBC Data Pages:</em></strong><br></p><ul><li><a href="https://www.cnbc.com/dow-30/">The Dow 30 — in Real Time</a></li><li><a href="https://www.cnbc.com/futures-and-commodities/">Oil, Gold, Natural Gas Prices Now</a></li><li><a href="https://www.cnbc.com/us-dollar/">US Dollar, Minute by Minute</a></li></ul><p>_____________________________</p><p><em>Want updates whenever a Trader Talk blog is filed? Follow me on Twitter: twitter.com/BobPisani. </em></p><p><em>Questions?  Comments?  <a href="mailto:[email protected]" class="webresource" target="_blank">[email protected]</a></em></p></div>
Apple as a non-confirmation? It started in the middle of February: Transports failed to keep advancing with the Industrials. At the time, the failure was blamed on higher fuel prices; indeed, oil prices hit a 10-month high as we closed out that month.That was the first non-confirmation that got bears going. Then, as we moved into a new quarter in April, it was noted that the small-cap Russell 2000 began underperforming the S&P 500. It is a modest underperformance (down 4.7 percent for the month vs. the down 2.9 percent S&P underperformance) but it too has been seized upon by bears as a sign that U.S. growth — even with modest expectations of 2.5 percent GDP growth — may be moderating. Now, the Nasdaq — which has dramatically outperformed the S&P 500 all year (up 14.5 percent vs. 8.7 percent), is underperforming — but only for today. Volume on the Nasdaq is slightly higher than normal. It's not just Apple , plenty of other companies like Seagate, Broadcomm and even Netflix have turned in stellar performances this year. I know everyone is worried about AAPL down 5 days in a row, but this is the first day the Nasdaq has significantly underperformed. It's a sign of the power of AAPL that even a one-day drop has traders wondering. This is tricky. Apple, by traditional valuation metrics, is not overpriced. But the investor concentration in the name, along with a 50 percent runup in a little more than three months, has got many nervous. And the bears have noted for weeks that estimates — and price targets — for AAPL have continued to climb. Glass half empty? Economic data very mixed this morning: positive retail sales, but the Street is concentrating on the lower than expected housing and Empire Manufacturing figures. The National Association of Home Builders Sentiment Index got an unusual amount of commentary this week, largely because of this comment from Chief Economist David Crowe: "Interest expressed by buyers in the past few months has yet to translate into expected sales activity." Not all negative news: Reliance Steel   this morning increased its Q1 guidance to $1.50, well above prior guidance of $1.22-$1.40 and above consensus of $1.29. CEO David Hanna attributed the higher guidance to better pricing and "somewhat stronger" demand. RS is primarily a U.S.-based producer; their core business operates service centers that distribute metal products all over the U.S. _____________________________Bookmark CNBC Data Pages:The Dow 30 — in Real TimeOil, Gold, Natural Gas Prices NowUS Dollar, Minute by Minute_____________________________Want updates whenever a Trader Talk blog is filed? Follow me on Twitter: twitter.com/BobPisani. Questions?  Comments?  [email protected]
2021-10-30 14:11:27.936603
Phoenix Suns add another partnership, pairing up with Fanatics
https://www.cnbc.com/2021/05/11/phoenix-suns-partners-with-fanatics-in-new-merchandise-deal.html
2021-05-11T12:30:01+0000
Jabari Young
CNBC
The Phoenix Suns announced Tuesday it will partner with sports merchandise company Fanatics.Fanatics will oversee the Suns' online, mobile and in-venue team shops at Phoenix Suns Arena in what is labeled an "omnichannel retail partnership." Fanatics will also control e-commerce operations for the Suns' sister team, the Mercury of the Women's National Basketball Association, and collaborate with team jersey patch partner PayPal for payment options for consumers.Fanatics said the deal is "long-term" but didn't provide financial details. In such agreements, National Basketball Association clubs usually provide Fanatics with a percentage of net revenue from merchandise sold. The NBA said the team ranks in the top half of merchandise sales but didn't respond to messages seeking where the team exactly ranks. The Los Angeles Lakers, Brooklyn Nets and Golden State Warriors are the top three clubs on the list, which ranks the most popular team merchandise for the first half of the NBA's 2020-21 season."We're really excited about the collaborative approach and the future innovations that we'll create together," Ed O'Brien, Fanatics senior vice president of business development, said in a statement announcing the Suns deal.Fanatics now operates 13 NBA clubs. In March, the company raised $320 million in new funding, giving it a valuation of $12.8 billion, up from $6.2 billion last August. And in February, it started its Fanatics China operation, joining investment firm Hillhouse Capital.Fanatics expects its China operation will be worth over $1 billion.The Suns are preparing for the NBA's postseason for the first time in a decade. The team is currently sitting second in the Western Conference with a 48-20 record.Business partnerships are accumulating now that the club is back in contention. The Suns announced an alliance with FanDuel to capitalize on Arizona's decision to allow mobile wagering. And last November, Verizon acquired the naming rights to the Suns' new $45 million practice center.The team has a significant asset open with its arena name, though. The Suns completed upgrades to their downtown complex via a $230 million project with the help of city funding. Suns CEO Jason Rowley told CNBC in April the naming rights slot is gaining interest."We're making sure we pick the right partner, and it's a good fit for the partner and us," he said. "These are long-term relationships that need to be mutual and beneficial."Disclosure: CNBC parent Comcast and NBC Sports are investors in FanDuel.
cnbc, Articles, Phoenix Suns, Advertising, PayPal Holdings Inc, Verizon Communications Inc, Sports, Life, Business, Technology, Business News, National Basketball Association, source:tagname:CNBC US Source
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<div class="group"><p>The Phoenix Suns announced Tuesday it will partner with sports merchandise company Fanatics.</p><p>Fanatics will oversee the Suns' online, mobile and in-venue team shops at Phoenix Suns Arena in what is labeled an "omnichannel retail partnership." Fanatics will also control e-commerce operations for the Suns' sister team, the Mercury of the Women's National Basketball Association, and collaborate with team jersey patch partner <a href="//www.cnbc.com/quotes/PYPL" target="_blank">PayPal</a> for payment options for consumers.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Fanatics said the deal is "long-term" but didn't provide financial details. In such agreements, National Basketball Association clubs usually provide Fanatics with a percentage of net revenue from merchandise sold.</p><p> The NBA said the team ranks in the top half of merchandise sales but didn't respond to messages seeking where the team exactly ranks. The Los Angeles Lakers, Brooklyn Nets and Golden State Warriors are the <a href="https://www.nba.com/news/lebron-james-lakers-lead-nba-merchandise-sales-1st-half-2020-21" target="_blank">top three clubs on the list</a>, which ranks the most popular team merchandise for the first half of the NBA's 2020-21 season.</p><p>"We're really excited about the collaborative approach and the future innovations that we'll create together," Ed O'Brien, Fanatics senior vice president of business development, said in a statement announcing the Suns deal.</p><p>Fanatics now operates 13 NBA clubs. In March, the company raised $320 million in new funding, giving it a valuation of <a href="https://www.cnbc.com/2021/03/24/fanatics-valuation-doubles-to-12point8-billion-after-new-funding-round.html">$12.8 billion</a>, up from $6.2 billion last August. And in February, it started its <a href="https://www.cnbc.com/2021/02/25/fanatics-pairs-with-hillhouse-capital-to-start-china-based-operation.html">Fanatics China</a> operation, joining investment firm Hillhouse Capital.</p><p>Fanatics expects its China operation will be worth over $1 billion.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The Suns are preparing for the NBA's postseason for the first time in a decade. The team is currently sitting second in the Western Conference with a 48-20 record.</p><p>Business partnerships are accumulating now that the club is back in contention. The Suns announced an alliance with FanDuel to capitalize on Arizona's decision to allow mobile wagering. And last November, <a href="//www.cnbc.com/quotes/VZ" target="_blank">Verizon</a> acquired the naming rights to the Suns' new $45 million practice center.</p><p>The team has a significant asset open with its arena name, though. The Suns completed upgrades to their downtown complex via a $230 million project with the help of city funding. Suns CEO Jason Rowley told <a href="https://www.cnbc.com/2021/04/29/suns-owner-robert-sarver-matures-club-is-back-in-nba-playoffs-for-first-time-in-a-decade-.html">CNBC in April</a> the naming rights slot is gaining interest.</p><p>"We're making sure we pick the right partner, and it's a good fit for the partner and us," he said. "These are long-term relationships that need to be mutual and beneficial."</p><p><em>Disclosure: CNBC parent Comcast and NBC Sports are investors in FanDuel.</em></p></div>
The Phoenix Suns announced Tuesday it will partner with sports merchandise company Fanatics.Fanatics will oversee the Suns' online, mobile and in-venue team shops at Phoenix Suns Arena in what is labeled an "omnichannel retail partnership." Fanatics will also control e-commerce operations for the Suns' sister team, the Mercury of the Women's National Basketball Association, and collaborate with team jersey patch partner PayPal for payment options for consumers.Fanatics said the deal is "long-term" but didn't provide financial details. In such agreements, National Basketball Association clubs usually provide Fanatics with a percentage of net revenue from merchandise sold. The NBA said the team ranks in the top half of merchandise sales but didn't respond to messages seeking where the team exactly ranks. The Los Angeles Lakers, Brooklyn Nets and Golden State Warriors are the top three clubs on the list, which ranks the most popular team merchandise for the first half of the NBA's 2020-21 season."We're really excited about the collaborative approach and the future innovations that we'll create together," Ed O'Brien, Fanatics senior vice president of business development, said in a statement announcing the Suns deal.Fanatics now operates 13 NBA clubs. In March, the company raised $320 million in new funding, giving it a valuation of $12.8 billion, up from $6.2 billion last August. And in February, it started its Fanatics China operation, joining investment firm Hillhouse Capital.Fanatics expects its China operation will be worth over $1 billion.The Suns are preparing for the NBA's postseason for the first time in a decade. The team is currently sitting second in the Western Conference with a 48-20 record.Business partnerships are accumulating now that the club is back in contention. The Suns announced an alliance with FanDuel to capitalize on Arizona's decision to allow mobile wagering. And last November, Verizon acquired the naming rights to the Suns' new $45 million practice center.The team has a significant asset open with its arena name, though. The Suns completed upgrades to their downtown complex via a $230 million project with the help of city funding. Suns CEO Jason Rowley told CNBC in April the naming rights slot is gaining interest."We're making sure we pick the right partner, and it's a good fit for the partner and us," he said. "These are long-term relationships that need to be mutual and beneficial."Disclosure: CNBC parent Comcast and NBC Sports are investors in FanDuel.
2021-10-30 14:11:27.972702
Financial planner: Here's when you should temporarily stop saving for retirement during the pandemic
https://www.cnbc.com/2020/03/18/when-to-temporarily-stop-saving-for-retirement-during-the-pandemic.html
2020-03-18T16:17:43+0000
Kathleen Elkins
CNBC
As the coronavirus spreads across the United States, American life has come to a halt: schools are closing, sports leagues are suspended, events are canceled and officials from major cities are announcing restrictions on restaurants and bars.Some Americans are already out of work and millions could end up losing their jobs in a potential recession.While financial advisors typically encourage setting aside at least a small portion of your income for the future, ideally 10-15%, now may be the time to scale back or stop contributing to retirement-specific accounts if you don't have cash savings to fall back on. If you don't have three to six months' worth of expenses saved in an emergency fund, "temporarily stop contributing to retirement accounts," Nick Holeman, certified financial planner at Betterment, tells CNBC Make It. Take the money you'd normally save for retirement and put it into an account for emergencies. Pausing retirement contributions "is not ideal," he emphasizes, "but this will be a short-term change. Commit to start contributing again once you are back on your feet."
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2021-10-30 14:11:28.011539
Instead of shunning Saudi Arabia after Khashoggi killing, investors flock to $7.5 billion bond sale
https://www.cnbc.com/2019/01/10/saudis-first-dollar-bond-sale-since-khashoggi-killing-is-a-success.html
2019-01-10T20:04:07+0000
Tom DiChristopher
CNBC
Saudi Arabia raised $7.5 billion in its first dollar bond sale since the killing of Saudi dissident and U.S. resident Jamal Khashoggi incited an international uproar.Khashoggi's killing sparked concerns that international investors would shun the kingdom. Saudi Arabia is prosecuting several agents and officials allegedly involved in the slaying at the Saudi Consulate in Istanbul.Riyadh denies that Saudi Crown Prince Mohammed bin Salman was involved in the murder, but the CIA has reportedly concluded that the king-in-waiting was complicit in the killing.While some business executives have cut ties with the kingdom over the incident, bond buyers do not appear ready to overlook an investment opportunity in Saudi Arabia, the world's largest oil exporter.The issuance was nearly four times oversubscribed, with the order book peaking at $27.5 billion, according to the Saudi Ministry of Finance.Saudi Arabia sold $4 billion in 10-year notes that mature in 2029, and $3.5 billion in in 31-year notes that come due in 2050.U.S.-based investors accounted for 40 percent of the 2029 bond purchases and 45 percent of the 2050 debt, according to Reuters.On Wednesday, Saudi Energy Minister Khalid al-Falih said state-owned oil giant Aramco will issue bonds in the second quarter of this year. The debt will most likely be issued in dollars, he said.WATCH: Turkish foreign minister says Saudis have heard Khashoggi killing audio
cnbc, Articles, Jamal Khashoggi, Saudi Arabia, Bonds, Personal loans, Markets, Politics, Energy, Oil and Gas, Debt, source:tagname:CNBC US Source
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<div class="group"><p><a href="https://www.cnbc.com/id/10000304">Saudi Arabia</a> raised $7.5 billion in its first dollar bond sale since the killing of Saudi dissident and U.S. resident <a href="https://www.cnbc.com/search/?query=Jamal%20Khashoggi">Jamal Khashoggi</a> incited an international uproar.</p><p>Khashoggi's killing sparked concerns that international investors would shun the kingdom. Saudi Arabia is prosecuting several agents and officials allegedly involved in the slaying at the Saudi Consulate in Istanbul.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Riyadh denies that Saudi Crown Prince Mohammed bin Salman was involved in the murder, but the CIA has reportedly concluded that the king-in-waiting was complicit in the killing.</p><p>While some business executives have <a href="https://www.cnbc.com/2018/10/17/khashoggi-crisis-threatens-to-alienate-foreign-firms-remaking-saudi-economy.html">cut ties with the kingdom</a> over the incident, bond buyers do not appear ready to overlook an investment opportunity in Saudi Arabia, the world's largest oil exporter.</p><p>The issuance was nearly four times oversubscribed, with the order book peaking at $27.5 billion, according to the Saudi Ministry of Finance.</p><p>Saudi Arabia sold $4 billion in 10-year notes that mature in 2029, and $3.5 billion in in 31-year notes that come due in 2050.</p><p>U.S.-based investors accounted for 40 percent of the 2029 bond purchases and 45 percent of the 2050 debt, according to Reuters.</p><div style="height:100%" class="lazyload-placeholder"></div><p>On Wednesday, Saudi Energy Minister Khalid al-Falih said state-owned oil giant Aramco <a href="https://www.cnbc.com/2019/01/10/saudi-arabia-plots-new-path-to-long-delayed-aramco-ipo.html">will issue bonds</a> in the second quarter of this year. The debt will most likely be issued in dollars, he said.</p><p><strong>WATCH: </strong><a href="https://www.cnbc.com/video/2018/12/16/turkish-foreign-minister-saudis-have-heard-khashoggi-killing-audio.html">Turkish foreign minister says Saudis have heard Khashoggi killing audio</a></p></div>,<div class="group"></div>
Saudi Arabia raised $7.5 billion in its first dollar bond sale since the killing of Saudi dissident and U.S. resident Jamal Khashoggi incited an international uproar.Khashoggi's killing sparked concerns that international investors would shun the kingdom. Saudi Arabia is prosecuting several agents and officials allegedly involved in the slaying at the Saudi Consulate in Istanbul.Riyadh denies that Saudi Crown Prince Mohammed bin Salman was involved in the murder, but the CIA has reportedly concluded that the king-in-waiting was complicit in the killing.While some business executives have cut ties with the kingdom over the incident, bond buyers do not appear ready to overlook an investment opportunity in Saudi Arabia, the world's largest oil exporter.The issuance was nearly four times oversubscribed, with the order book peaking at $27.5 billion, according to the Saudi Ministry of Finance.Saudi Arabia sold $4 billion in 10-year notes that mature in 2029, and $3.5 billion in in 31-year notes that come due in 2050.U.S.-based investors accounted for 40 percent of the 2029 bond purchases and 45 percent of the 2050 debt, according to Reuters.On Wednesday, Saudi Energy Minister Khalid al-Falih said state-owned oil giant Aramco will issue bonds in the second quarter of this year. The debt will most likely be issued in dollars, he said.WATCH: Turkish foreign minister says Saudis have heard Khashoggi killing audio
2021-10-30 14:11:28.125581
Bryce Harper's $330 million Phillies contract can't solve baseball's bigger spending problem
https://www.cnbc.com/2019/03/01/bryce-harpers-330-million-deal-cant-solve-mlbs-big-spending-issue.html
2019-03-03T17:00:13+0000
Donovan Russo
CNBC
Major League Baseball spring training is underway and some of the biggest concerns about spending by teams headed into the MLB season have now been addressed, with roughly $1 billion spent on new player contracts within the last two weeks. On Thursday, all-star outfielder Bryce Harper signed a 13-year, $330 million contract with the Philadelphia Phillies, the largest contract in MLB history in total value, though not per-year salary. The week previous, the San Diego Padres doled out $300 million over 10 years to Manny Machado. The Colorado Rockies also resigned Nolan Arenado to an eight-year, $260 million contract; the New York Yankees gave outfielder Aaron Hicks a seven-year, $70 million deal; and the St. Louis Cardinals starter Miles Mikolas received four years and $68 million.But bigger problems persist for the MLB: Attendance is down, games are still too long, and the gap between the richest and poorest teams remains wide, leading to a lack of competitiveness from many teams .Eight major league teams experienced double-digit attendance losses in 2018, led by the Miami Marlins' 52 percent decline — the laggard was no surprise, as the Marlins traded both 2017 National League Most Valuable Player Giancarlo Stanton to the New York Yankees and Christian Yelich to the Milwaukee Brewers (who went on to win the 2018 National League MVP award) before the season began, as part of the beginning of a long rebuilding process.Several currently successful teams embraced a rebuilding process, such as the 2017 World Series champion Houston Astros and 2016 World Series champion Chicago Cubs. The Padres will be another test case this season: The team inked the Machado deal after amassing what is widely regarded as one of the best farm systems in baseball, but also after close to a decade of consistently poor results on the field — the team has not had a winning record since 2010 and has not made the playoffs since 2006.Like the Padres' 66-96 record last season, there have been several other teams who have drowned in losses, mostly from stripping talent away, attempting to rebuild younger and cheaper rosters. The Baltimore Orioles went 47-115 last season; the Chicago White Sox and Cincinnati Reds have both had five or more straight losing seasons since 2014.
cnbc, Articles, Tampa Bay Rays, San Diego Padres, Boston Red Sox, Miami Marlins, Manny Machado, MLB teams, MLB Spring Training, Major League Baseball, Business, Sports, Business News, Life, source:tagname:CNBC US Source
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<div class="group"><p>Major League Baseball spring training is underway and some of the biggest concerns about spending by teams headed into the MLB season have now been addressed, with roughly $1 billion spent on new player contracts within the last two weeks. </p><p>On Thursday, all-star outfielder Bryce Harper signed a 13-year, $330 million contract with the Philadelphia Phillies, the largest contract in MLB history in total value, though not per-year salary. The week previous, the San Diego Padres doled out $300 million over 10 years to Manny Machado. The Colorado Rockies also resigned Nolan Arenado to an eight-year, $260 million contract; the New York Yankees gave outfielder Aaron Hicks a seven-year, $70 million deal; and the St. Louis Cardinals starter Miles Mikolas received four years and $68 million.</p><div style="height:100%" class="lazyload-placeholder"></div><p>But bigger problems persist for the MLB: Attendance is down, games are still too long, and the gap between the richest and poorest teams remains wide, leading to a lack of competitiveness from many teams .</p><p>Eight major league teams experienced double-digit attendance losses in <a href="https://www.usatoday.com/story/sports/mlb/2018/09/27/mlb-attendance-down-biggest-slide-decade/1441318002/" target="_blank">2018</a>, led by the Miami Marlins' 52 percent decline — the laggard was no surprise, as the Marlins traded both 2017 National League Most Valuable Player Giancarlo Stanton to the New York Yankees and Christian Yelich to the Milwaukee Brewers (who went on to win the 2018 National League MVP award) before the season began, as part of the beginning of a long rebuilding process.</p><p>Several currently successful teams embraced a rebuilding process, such as the 2017 World Series champion Houston Astros and 2016 World Series champion Chicago Cubs. The Padres will be another test case this season: The team inked the Machado deal after amassing what is widely regarded as one of the best farm systems in baseball, but also after close to a decade of consistently poor results on the field — the team has not had a winning record since 2010 and has not made the playoffs since 2006.</p><p>Like the Padres' 66-96 record last season, there have been several other teams who have drowned in losses, mostly from stripping talent away, attempting to rebuild younger and cheaper rosters. The Baltimore Orioles went 47-115 last season; the Chicago White Sox and Cincinnati Reds have both had five or more straight losing seasons since 2014.</p></div>,<div class="group"><p>Stephen J.K. Walters, a professor of economics at Loyola University Maryland and former economic advisor to MLB teams, said mid- and small-market teams are taking an approach that is defensible. "The current amount of competitive imbalance — for example, Baseball Prospectus forecasts that only 5 of 15 American League teams will have winning records, with 82 wins or more — is chiefly a result of mid- and small-market teams' acceptance of the idea that they can get away with boring their fans for a few years as also-rans while they hoard high draft picks and prospects, and then they'll be good and all will be forgiven."</p><div style="height:100%" class="lazyload-placeholder"></div><p>According to <a href="https://www.rotochamp.com/baseball/TopProspects.aspx" target="_blank">Roto Champ</a>, the Padres now have the second-best prospect in baseball with Fernando Tatis Jr., a 20-year-old shortstop from the Dominican Republic and son of a former major leaguer. The Padres, White Sox, Reds and Rays possess a combined seven of the top 20 players on Roto Champ's list.</p><p>Under the current Collective Bargaining Agreement (<a href="http://www.mlbplayers.com/pdf9/5450407.pdf" target="_blank">CBA</a>), revenue sharing dollars have to be utilized in effort to try and improve winning but that does not necessarily mean those dollars have to be invested in free agency. The MLB commissioner may require a team to submit a report that details its efforts to win over the next two years if he feels that team has violated any of the rules that come along with the revenue sharing procedure.</p><p>Last year, the MLB Players Association filed grievances against the Tampa Bay Rays, Miami Marlins, Pittsburgh Pirates and Oakland Athletics, claiming each team did not spend its revenue sharing money in the expected manner.</p></div>,<div class="group"><p>In the Moneyball era, spending smart on talent doesn't have to mean spending the most and there are examples of tighter-wad teams performing on the field at a high level. The Athletics made the playoffs last season, losing to the Yankees in the American League wild card round. The Rays won 90 games, but fell short of clinching a playoff spot. Each of these team's 2018 payrolls was below $90 million and this year seems to be heading in the same direction. These four teams rank towards the bottom (25-30) of team payroll<a href="https://www.spotrac.com/mlb/payroll/" target="_blank"> trackings</a>, with the Rays at a league low just above $51 million.</p><p><a href="https://www.post-gazette.com/sports/pirates/2019/02/17/Commissioner-Rob-Manfred-and-Pirates-president-Frank-Coonelly-don-t-believe-payroll-will-determine-the-2019-season/stories/201902170216" target="_blank">MLB Commissioner Rob Manfred addressed the grievances</a> during a recent spring training appearance with the Pittsburgh Pirates president Frank Coonelly. "Tony Clark (MLBPA Director of Player Relations) started the assertion that teams aren't trying to win by singling out four teams," Manfred said, according to a report in the Pittsburgh Gazette. "He did a very poor job with those teams. One won 97 games, another won 90, and the other was a game above .500, right Frank (Coonelly)? Two games above .500. Our teams are trying. They all want to win." Manfred added, "This narrative that our teams aren't trying is just not supported by the facts. Our teams are trying. Every single one of them wants to win. It may look a little different to outsiders because the game has changed. The way people think about putting a winning team together has changed. But that doesn't mean they're not trying."</p></div>,<div class="group"><p>Walters said part of the competitive balance problem is the revenue sharing model used by the MLB.</p><p>"The fix: a requirement that the bulk of revenue-sharing receipts gets spent on major-league talent," he said. "In any case, competitive balance is more about 'compression' of spending on payroll. … To encourage those low-spending, small-market teams to buy a little more talent, I'd tweak MLB's revenue-sharing formula. It's complicated, but right now money gets distributed based on market size, but if it was a combination of market size and wins, that would breathe more life into the free agent market."</p><p>In effect, it would incentivize smaller market teams to spend more on players and create a positive feedback loop in which spending more would result in receiving more from revenue sharing.</p><p>"Optimal revenue sharing is an empirical question because it ultimately depends on the supply-side objectives of club owners throughout the league. Owners range from being profit maximizers who are only in it for the money to sportsmen gamers who are only in it to win it," said John Vrooman, an economics professor at Vanderbilt University.</p></div>,<div class="group"><p>But not all economists agree that revenue sharing is broken, or even, the root of the problem. David Berri, professor of economics at Southern Utah University and the author of "Sports Economics" views a limited population of talent rather than revenue sharing as the primary reason for the competitive imbalance.</p></div>,<div class="group"><p>"Baseball was not competitive in the first half of the 20th century because the talent pool was restricted (only white males from the U.S. played). Racial integration and a global search for talent expanded the talent pool and made the game much more competitive," Berri said.</p><p>None of this is to say the business of baseball is not a financial success. In fact, the MLB is flush with cash. The league grossed $10.3 billion in 2018, the 16th-consecutive year that the league saw record gross revenue, according to a widely cited annual <a href="https://www.forbes.com/sites/maurybrown/2019/01/07/mlb-sees-record-revenues-of-10-3-billion-for-2018/#379eaa7a5bea" target="_blank">Forbes</a> report based on information provided from league sources to baseball writer Maury Brown. And despite a 4.1 percent attendance drop in 2018, television broadcasts for twelve major league teams ranked first in their market in primetime, according to Major League Baseball.</p><p>The MLB saw a five-year viewership high on its Fox package, which in part contributed to a seven-year extension with Fox Sports, continuing to air World Series and All Star games through 2028, an extension worth a reported $5.1 billion.</p><p>The MLB also was ahead of professional sports league peers in its development of streaming technology, a forward-thinking effort that ultimately resulted in Disney's billion-dollar-plus purchase of BAMTech, the MLB's internet start-up, now valued at close to $4 billion.</p><p>Although the MLB has crowned eight different World Series winners in the last 10 years, it has for the most part been a similar set of teams making the playoffs each year. The Los Angeles Dodgers (who lost in the last two World Series) have consistently won the National League West since 2013. The Boston Red Sox (the current World Series champion), have won four titles since 2004. And the New York Yankees, another money spending powerhouse, have only missed the playoffs four times since 2008. These teams are consistently atop league leaders in payrolls.</p><p>Despite competing for a good majority of last season, the Phillies faded down the stretch, finishing the season with an 80-82 record. Phillies owner John Middleton said in November that his organization was going into the offseason ready to spend <a href="https://abcnews.go.com/Sports/phillies-owner-ready-spend-money-bit-stupid/story?id=59250282" target="_blank">"and maybe even be a little bit stupid about it."</a></p><p>As Red Sox owner John Henry<a href="http://www.espn.com/mlb/story/_/id/26026923/red-sox-owner-john-henry-says-spending-more-tends-helps-teams-win" target="_blank"> put it</a>: "It's very difficult to predict things in baseball, to predict player performance. Spending more money helps."</p></div>
Major League Baseball spring training is underway and some of the biggest concerns about spending by teams headed into the MLB season have now been addressed, with roughly $1 billion spent on new player contracts within the last two weeks. On Thursday, all-star outfielder Bryce Harper signed a 13-year, $330 million contract with the Philadelphia Phillies, the largest contract in MLB history in total value, though not per-year salary. The week previous, the San Diego Padres doled out $300 million over 10 years to Manny Machado. The Colorado Rockies also resigned Nolan Arenado to an eight-year, $260 million contract; the New York Yankees gave outfielder Aaron Hicks a seven-year, $70 million deal; and the St. Louis Cardinals starter Miles Mikolas received four years and $68 million.But bigger problems persist for the MLB: Attendance is down, games are still too long, and the gap between the richest and poorest teams remains wide, leading to a lack of competitiveness from many teams .Eight major league teams experienced double-digit attendance losses in 2018, led by the Miami Marlins' 52 percent decline — the laggard was no surprise, as the Marlins traded both 2017 National League Most Valuable Player Giancarlo Stanton to the New York Yankees and Christian Yelich to the Milwaukee Brewers (who went on to win the 2018 National League MVP award) before the season began, as part of the beginning of a long rebuilding process.Several currently successful teams embraced a rebuilding process, such as the 2017 World Series champion Houston Astros and 2016 World Series champion Chicago Cubs. The Padres will be another test case this season: The team inked the Machado deal after amassing what is widely regarded as one of the best farm systems in baseball, but also after close to a decade of consistently poor results on the field — the team has not had a winning record since 2010 and has not made the playoffs since 2006.Like the Padres' 66-96 record last season, there have been several other teams who have drowned in losses, mostly from stripping talent away, attempting to rebuild younger and cheaper rosters. The Baltimore Orioles went 47-115 last season; the Chicago White Sox and Cincinnati Reds have both had five or more straight losing seasons since 2014.Stephen J.K. Walters, a professor of economics at Loyola University Maryland and former economic advisor to MLB teams, said mid- and small-market teams are taking an approach that is defensible. "The current amount of competitive imbalance — for example, Baseball Prospectus forecasts that only 5 of 15 American League teams will have winning records, with 82 wins or more — is chiefly a result of mid- and small-market teams' acceptance of the idea that they can get away with boring their fans for a few years as also-rans while they hoard high draft picks and prospects, and then they'll be good and all will be forgiven."According to Roto Champ, the Padres now have the second-best prospect in baseball with Fernando Tatis Jr., a 20-year-old shortstop from the Dominican Republic and son of a former major leaguer. The Padres, White Sox, Reds and Rays possess a combined seven of the top 20 players on Roto Champ's list.Under the current Collective Bargaining Agreement (CBA), revenue sharing dollars have to be utilized in effort to try and improve winning but that does not necessarily mean those dollars have to be invested in free agency. The MLB commissioner may require a team to submit a report that details its efforts to win over the next two years if he feels that team has violated any of the rules that come along with the revenue sharing procedure.Last year, the MLB Players Association filed grievances against the Tampa Bay Rays, Miami Marlins, Pittsburgh Pirates and Oakland Athletics, claiming each team did not spend its revenue sharing money in the expected manner.In the Moneyball era, spending smart on talent doesn't have to mean spending the most and there are examples of tighter-wad teams performing on the field at a high level. The Athletics made the playoffs last season, losing to the Yankees in the American League wild card round. The Rays won 90 games, but fell short of clinching a playoff spot. Each of these team's 2018 payrolls was below $90 million and this year seems to be heading in the same direction. These four teams rank towards the bottom (25-30) of team payroll trackings, with the Rays at a league low just above $51 million.MLB Commissioner Rob Manfred addressed the grievances during a recent spring training appearance with the Pittsburgh Pirates president Frank Coonelly. "Tony Clark (MLBPA Director of Player Relations) started the assertion that teams aren't trying to win by singling out four teams," Manfred said, according to a report in the Pittsburgh Gazette. "He did a very poor job with those teams. One won 97 games, another won 90, and the other was a game above .500, right Frank (Coonelly)? Two games above .500. Our teams are trying. They all want to win." Manfred added, "This narrative that our teams aren't trying is just not supported by the facts. Our teams are trying. Every single one of them wants to win. It may look a little different to outsiders because the game has changed. The way people think about putting a winning team together has changed. But that doesn't mean they're not trying."Walters said part of the competitive balance problem is the revenue sharing model used by the MLB."The fix: a requirement that the bulk of revenue-sharing receipts gets spent on major-league talent," he said. "In any case, competitive balance is more about 'compression' of spending on payroll. … To encourage those low-spending, small-market teams to buy a little more talent, I'd tweak MLB's revenue-sharing formula. It's complicated, but right now money gets distributed based on market size, but if it was a combination of market size and wins, that would breathe more life into the free agent market."In effect, it would incentivize smaller market teams to spend more on players and create a positive feedback loop in which spending more would result in receiving more from revenue sharing."Optimal revenue sharing is an empirical question because it ultimately depends on the supply-side objectives of club owners throughout the league. Owners range from being profit maximizers who are only in it for the money to sportsmen gamers who are only in it to win it," said John Vrooman, an economics professor at Vanderbilt University.But not all economists agree that revenue sharing is broken, or even, the root of the problem. David Berri, professor of economics at Southern Utah University and the author of "Sports Economics" views a limited population of talent rather than revenue sharing as the primary reason for the competitive imbalance."Baseball was not competitive in the first half of the 20th century because the talent pool was restricted (only white males from the U.S. played). Racial integration and a global search for talent expanded the talent pool and made the game much more competitive," Berri said.None of this is to say the business of baseball is not a financial success. In fact, the MLB is flush with cash. The league grossed $10.3 billion in 2018, the 16th-consecutive year that the league saw record gross revenue, according to a widely cited annual Forbes report based on information provided from league sources to baseball writer Maury Brown. And despite a 4.1 percent attendance drop in 2018, television broadcasts for twelve major league teams ranked first in their market in primetime, according to Major League Baseball.The MLB saw a five-year viewership high on its Fox package, which in part contributed to a seven-year extension with Fox Sports, continuing to air World Series and All Star games through 2028, an extension worth a reported $5.1 billion.The MLB also was ahead of professional sports league peers in its development of streaming technology, a forward-thinking effort that ultimately resulted in Disney's billion-dollar-plus purchase of BAMTech, the MLB's internet start-up, now valued at close to $4 billion.Although the MLB has crowned eight different World Series winners in the last 10 years, it has for the most part been a similar set of teams making the playoffs each year. The Los Angeles Dodgers (who lost in the last two World Series) have consistently won the National League West since 2013. The Boston Red Sox (the current World Series champion), have won four titles since 2004. And the New York Yankees, another money spending powerhouse, have only missed the playoffs four times since 2008. These teams are consistently atop league leaders in payrolls.Despite competing for a good majority of last season, the Phillies faded down the stretch, finishing the season with an 80-82 record. Phillies owner John Middleton said in November that his organization was going into the offseason ready to spend "and maybe even be a little bit stupid about it."As Red Sox owner John Henry put it: "It's very difficult to predict things in baseball, to predict player performance. Spending more money helps."
2021-10-30 14:11:28.198588
This is the most expensive country to send overseas workers
https://www.cnbc.com/2021/09/03/japan-overtakes-uk-as-the-most-expensive-country-to-hire-expats.html
2021-09-03T00:42:01+0000
Karen Gilchrist
CNBC
Japan has overtaken the U.K. as the most expensive place to send overseas employees to work, a new report has found.The average expatriate package in Japan costs employers $405,685 – more than any other international business hub, according to "MyExpatriate Market Pay" survey by data company ECA International.The study — which takes into account cash salaries, benefits and tax — points to an uptick in the overall cost of mid-level expat packages in Japan. It comes even as other parts of the world saw the price of accommodation and benefits take a hit due to the pandemic.The U.K. fell from the top spot to rank as the second most expensive location to send overseas employees in 2020. The others that ranked high on the overall cost list were India, China and Hong Kong.
makeit, Articles, Make It, Make It - Work, Make It - Careers, source:tagname:CNBC Asia Source
https://image.cnbcfm.com…peg?v=1630493151
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2021-10-30 14:11:28.357695
Chinese Retail Sales Surge, Partly on Inflation
https://www.cnbc.com/2007/09/12/chinese-retail-sales-surge-partly-on-inflation.html
2007-09-12T04:25:04+0000
null
CNBC
China's retail sales growth surged in August to its quickest pace in more than three years, beating forecasts, but analysts said the jump largely reflected stronger inflation, not necessarily quicker underlying growth. Retail sales, which are tracked in nominal terms, grew 17.1% from a year earlier, compared with 16.4% in July. The uptick roughly tracked a rise in annual consumer inflation in August to 6.5%, from 5.6% in July. "Retail sales growth is obviously strong. The problem is that the figures are being pushed up by the rising inflation as well. So actually, on a real basis, I don't think there's much of an acceleration," said Paul Cavey, an economist with Macquarie Securities in Hong Kong. August's pace, the quickest since May 2004, beat economists' expectations of a 16.5% rise. Consumer inflation data, released on Tuesday, also surprised on the upside. Beijing would welcome an increase in real buying activity by the country's consumers. It is trying to tilt its economy away from what economists call an unsustainable reliance on exports -- to the tune of 40% of national output. Not only does China's gaping trade surplus -- it hit $25 billion in August -- contribute to tensions with its major trading partners, it also exposes it more to any downturn in the United States or other economies. Cavey said that a lynchpin of Beijing's efforts to spur spending would be their effectiveness in the countryside, and that a recent epidemic among pigs was likely to blunt growth in spending there this year. "We will expect retail sales growth to continue to be strong next year as the countryside gets over all this," he said. In the details, the retail sales data suggested a significant impact from the recent spike in food price inflation. Sales of grain and edible oils and meat, eggs and poultry, two of the categories where price rises have been most striking, rose 44% and 45.2%, respectively. Still, Lin Songli, senior economist at Guosen Securities in Beijing, said the figures showed that consumption was starting to take up a greater role in driving the world's fastest-growing major economy. "Consumption growth has not reached its peak yet, and we are now expecting even higher growth rates in coming months," Lin said.
cnbc, Articles, Wires, source:tagname:Reuters
https://sc.cnbcfm.com/ap…1804&w=720&h=405
<div class="group"><p>China's retail sales growth surged in August to its quickest pace in more than three years, beating forecasts, but analysts said the jump largely reflected stronger inflation, not necessarily quicker underlying growth. </p><p>Retail sales, which are tracked in nominal terms, grew 17.1% from a year earlier, compared with 16.4% in July. The uptick roughly tracked a rise in annual consumer inflation in August to 6.5%, from 5.6% in July. </p><div style="height:100%" class="lazyload-placeholder"></div><p>"Retail sales growth is obviously strong. The problem is that the figures are being pushed up by the rising inflation as well. So actually, on a real basis, I don't think there's much of an acceleration," said Paul Cavey, an economist with Macquarie Securities in Hong Kong. </p><p>August's pace, the quickest since May 2004, beat economists' expectations of a 16.5% rise. Consumer inflation data, released on Tuesday, also surprised on the upside. </p><p>Beijing would welcome an increase in real buying activity by the country's consumers. It is trying to tilt its economy away from what economists call an unsustainable reliance on exports -- to the tune of 40% of national output. </p><p>Not only does China's gaping trade surplus -- it hit $25 billion in August -- contribute to tensions with its major trading partners, it also exposes it more to any downturn in the United States or other economies. </p><p>Cavey said that a lynchpin of Beijing's efforts to spur spending would be their effectiveness in the countryside, and that a recent epidemic among pigs was likely to blunt growth in spending there this year. </p><div style="height:100%" class="lazyload-placeholder"></div><p>"We will expect retail sales growth to continue to be strong next year as the countryside gets over all this," he said. </p><p>In the details, the retail sales data suggested a significant impact from the recent spike in food price inflation. Sales of grain and edible oils and meat, eggs and poultry, two of the categories where price rises have been most striking, rose 44% and 45.2%, respectively. </p><p>Still, Lin Songli, senior economist at Guosen Securities in Beijing, said the figures showed that consumption was starting to take up a greater role in driving the world's fastest-growing major economy. </p><p>"Consumption growth has not reached its peak yet, and we are now expecting even higher growth rates in coming months," Lin said. </p></div>
China's retail sales growth surged in August to its quickest pace in more than three years, beating forecasts, but analysts said the jump largely reflected stronger inflation, not necessarily quicker underlying growth. Retail sales, which are tracked in nominal terms, grew 17.1% from a year earlier, compared with 16.4% in July. The uptick roughly tracked a rise in annual consumer inflation in August to 6.5%, from 5.6% in July. "Retail sales growth is obviously strong. The problem is that the figures are being pushed up by the rising inflation as well. So actually, on a real basis, I don't think there's much of an acceleration," said Paul Cavey, an economist with Macquarie Securities in Hong Kong. August's pace, the quickest since May 2004, beat economists' expectations of a 16.5% rise. Consumer inflation data, released on Tuesday, also surprised on the upside. Beijing would welcome an increase in real buying activity by the country's consumers. It is trying to tilt its economy away from what economists call an unsustainable reliance on exports -- to the tune of 40% of national output. Not only does China's gaping trade surplus -- it hit $25 billion in August -- contribute to tensions with its major trading partners, it also exposes it more to any downturn in the United States or other economies. Cavey said that a lynchpin of Beijing's efforts to spur spending would be their effectiveness in the countryside, and that a recent epidemic among pigs was likely to blunt growth in spending there this year. "We will expect retail sales growth to continue to be strong next year as the countryside gets over all this," he said. In the details, the retail sales data suggested a significant impact from the recent spike in food price inflation. Sales of grain and edible oils and meat, eggs and poultry, two of the categories where price rises have been most striking, rose 44% and 45.2%, respectively. Still, Lin Songli, senior economist at Guosen Securities in Beijing, said the figures showed that consumption was starting to take up a greater role in driving the world's fastest-growing major economy. "Consumption growth has not reached its peak yet, and we are now expecting even higher growth rates in coming months," Lin said.
2021-10-30 14:11:28.560509
Brussels attacks may sway Brexit vote: Strategists
https://www.cnbc.com/2016/03/22/brussels-attacks-may-sway-brexit-vote-strategists.html
2016-03-22T14:54:22+0000
Kate Rooney
CNBC
European stocks, especially the transportation sector, were declining, in the wake of Tuesday's terrorist attacks at the main Brussels airport and a metro station near European Union buildings. Nandini Ramakrishnan, global market strategist at JPMorgan Asset Management, told CNBC's "Worldwide Exchange" the blasts were likely to dampen a key driver of Europe's recovery. "I think there's a larger story here, where these types of events do affect consumer sentiment," Ramakrishnan said. "We're worried about consumer discretionary sectors, which have been really pioneering the European recovery." European airlines stocks fell after news of explosions. Air France, for example, was down about 4 percent. Travel on small commercial flights, which Europe is known for, is likely to continue slowing as fears about terrorism reignite, Ramakrishnan said. "[But] markets are a bit more resilient than we think, people are still waiting to see as the news develops," she said. "It's very difficult for traders and investors to position themselves in any way for something like this." The attacks in Brussels could impact the so-called "Brexit" referendum in June, said Ramakrishnan. "An event like today certainly does push the case for certain campaign language for the U.K. to leave the EU a bit further." Ramakrishnan sees shakiness in U.K. equities, because of investor indecision on whether to put money into companies that rely on the close relationship with the European Union."We're in a bit of a wait-and-see mode," she added. "The uncertainties could certainly affect markets in a negative way."
cnbc, Articles, Markets, Currency markets, Airlines, EU, European Union, Currencies, Euro, Worldwide Exchange, Europe Markets, Europe Economy, source:tagname:CNBC US Source
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<div class="group"><p> European stocks, especially the transportation sector, were declining, in the wake of Tuesday's terrorist attacks at the main Brussels airport and a metro station near European Union buildings.</p><p> Nandini Ramakrishnan, global market strategist at JPMorgan Asset Management, told CNBC's "<a href="https://www.cnbc.com/worldwide-exchange/">Worldwide Exchange</a>" the blasts were likely to dampen a key driver of Europe's recovery.</p><div style="height:100%" class="lazyload-placeholder"></div><p> "I think there's a larger story here, where these types of events do affect consumer sentiment," Ramakrishnan said. "We're worried about consumer discretionary sectors, which have been really pioneering the European recovery."</p><p> European airlines stocks fell after news of explosions. Air France, for example, was down about 4 percent. Travel on small commercial flights, which Europe is known for, is likely to continue slowing as fears about terrorism reignite, Ramakrishnan said.</p><p> "[But] markets are a bit more resilient than we think, people are still waiting to see as the news develops," she said. "It's very difficult for traders and investors to position themselves in any way for something like this."</p><p> The attacks in Brussels could impact the so-called "Brexit" referendum in June, said Ramakrishnan. "An event like today certainly does push the case for certain campaign language for the U.K. to leave the EU a bit further."</p><p> Ramakrishnan sees shakiness in U.K. equities, because of investor indecision on whether to put money into companies that rely on the close relationship with the European Union.</p><div style="height:100%" class="lazyload-placeholder"></div><p>"We're in a bit of a wait-and-see mode," she added. "The uncertainties could certainly affect markets in a negative way."</p></div>,<div class="group"><p> Ben Emons, managing director and portfolio manager at Leader Capital, was also clear about Tuesday's attacks influencing this summer's vote on whether the U.K. should exit the EU.</p><p>"The security of Europe continues to be in question," Emons told "Worldwide Exchange" in a separate interview. "Political pressure is clear and this will only fuel your skeptics."</p><p> The dollar has weakened against a basket of currencies over the past few weeks but the index was reversing slightly Tuesday. Emons said the trend is this is likely to continue. "I think the dollar takes some of the weakness back and just gets strength in a day like this."</p><p>Economic surveys out of Belgium, he said, are key consumer indicators for the rest of Europe. They're likely to be dulled by the explosions in Brussels, he said.</p><p> "Belgium is an open economy, very dynamic, and has the largest port in Europe, so that will be a level of disruption, too," Emons said.</p></div>
European stocks, especially the transportation sector, were declining, in the wake of Tuesday's terrorist attacks at the main Brussels airport and a metro station near European Union buildings. Nandini Ramakrishnan, global market strategist at JPMorgan Asset Management, told CNBC's "Worldwide Exchange" the blasts were likely to dampen a key driver of Europe's recovery. "I think there's a larger story here, where these types of events do affect consumer sentiment," Ramakrishnan said. "We're worried about consumer discretionary sectors, which have been really pioneering the European recovery." European airlines stocks fell after news of explosions. Air France, for example, was down about 4 percent. Travel on small commercial flights, which Europe is known for, is likely to continue slowing as fears about terrorism reignite, Ramakrishnan said. "[But] markets are a bit more resilient than we think, people are still waiting to see as the news develops," she said. "It's very difficult for traders and investors to position themselves in any way for something like this." The attacks in Brussels could impact the so-called "Brexit" referendum in June, said Ramakrishnan. "An event like today certainly does push the case for certain campaign language for the U.K. to leave the EU a bit further." Ramakrishnan sees shakiness in U.K. equities, because of investor indecision on whether to put money into companies that rely on the close relationship with the European Union."We're in a bit of a wait-and-see mode," she added. "The uncertainties could certainly affect markets in a negative way." Ben Emons, managing director and portfolio manager at Leader Capital, was also clear about Tuesday's attacks influencing this summer's vote on whether the U.K. should exit the EU."The security of Europe continues to be in question," Emons told "Worldwide Exchange" in a separate interview. "Political pressure is clear and this will only fuel your skeptics." The dollar has weakened against a basket of currencies over the past few weeks but the index was reversing slightly Tuesday. Emons said the trend is this is likely to continue. "I think the dollar takes some of the weakness back and just gets strength in a day like this."Economic surveys out of Belgium, he said, are key consumer indicators for the rest of Europe. They're likely to be dulled by the explosions in Brussels, he said. "Belgium is an open economy, very dynamic, and has the largest port in Europe, so that will be a level of disruption, too," Emons said.
2021-10-30 14:11:28.597802
China to Rein in Bank Lending, Ballooning Surplus
https://www.cnbc.com/2007/03/16/china-to-rein-in-bank-lending-ballooning-surplus.html
2007-03-16T06:24:33+0000
null
CNBC
China will take steps to contain a renewed burst in bank lending and a larger-than-expected rise in the country's controversial trade surplus last month, senior officials said on Friday. Speaking on the sidelines of a annual parliamentary session, which ends on Friday, central bank governor Zhou Xiaochuan said the authorities would place further controls on bank lending."From a commercial perspective, it is understandable for the banks to lend aggressively at the beginning of the year," Zhou told reporters. "But from a macro perspective, after serious study, we decided to place further controls (on it)," he said. He did not offer any timeframe. Lending data released this week reinforced concern that banks, awash with cash, may fund a new round of speculative investment. Lending surged by 413.8 billion yuan in February, compared with an increase of 149.1 billion yuan in February 2006. Separately, Commerce Minister Bo Xilai said the nation's trade surplus had been "too large" in February and reaffirmed that Beijing planned new steps to trim exports and step up imports. China on Monday reported its second-biggest monthly trade surplus on record, dwarfing forecasts and handing fresh ammunition to critics who say Beijing is giving its exporters an unfair edge by holding down the yuan. The surplus for February ballooned to $23.76 billion, with exports leaping 51.7% from a year earlier. "We are also very nervous about that," Bo said of the size of February's surplus. "We're seriously studying the whole situation to find the underlying reasons." One reason for the surge was a propensity among Chinese firms to ship their goods out of the country to prevent them from being penalized by possible policy changes, he said. The Commerce ministry would make appropriate adjustments to the export tax rebate system, paying special attention to the area of processing trade as that generated the biggest portion of the surplus, Bo told reporters, without giving details. Zhou also said the authorities were keeping a wary eye on inflation, which he said had been running too high. Asked whether the central bank would raise interest rates soon, Zhou said they were seriously studying the inflation situation and would take "appropriate measures".
cnbc, Articles, Business News, Economy, US Economy, US: News, source:tagname:Reuters
https://sc.cnbcfm.com/ap…1804&w=720&h=405
<div class="group"><p>China will take steps to contain a renewed burst in bank lending and a larger-than-expected rise in the country's controversial trade surplus last month, senior officials said on Friday. </p><p>Speaking on the sidelines of a annual parliamentary session, which ends on Friday, central bank governor Zhou Xiaochuan said the authorities would place further controls on bank lending.</p><div style="height:100%" class="lazyload-placeholder"></div><p>"From a commercial perspective, it is understandable for the banks to lend aggressively at the beginning of the year," Zhou told reporters. "But from a macro perspective, after serious study, we decided to place further controls (on it)," he said. He did not offer any timeframe. </p><p>Lending data released this week reinforced concern that banks, awash with cash, may fund a new round of speculative investment. Lending surged by 413.8 billion yuan in February, compared with an increase of 149.1 billion yuan in February 2006. </p><p>Separately, Commerce Minister Bo Xilai said the nation's trade surplus had been "too large" in February and reaffirmed that Beijing planned new steps to trim exports and step up imports. </p><p>China on Monday reported its second-biggest monthly trade surplus on record, dwarfing forecasts and handing fresh ammunition to critics who say Beijing is giving its exporters an unfair edge by holding down the yuan. </p><p>The surplus for February ballooned to $23.76 billion, with exports leaping 51.7% from a year earlier. "We are also very nervous about that," Bo said of the size of February's surplus. "We're seriously studying the whole situation to find the underlying reasons." </p><div style="height:100%" class="lazyload-placeholder"></div><p>One reason for the surge was a propensity among Chinese firms to ship their goods out of the country to prevent them from being penalized by possible policy changes, he said. </p><p>The Commerce ministry would make appropriate adjustments to the export tax rebate system, paying special attention to the area of processing trade as that generated the biggest portion of the surplus, Bo told reporters, without giving details. </p><p>Zhou also said the authorities were keeping a wary eye on inflation, which he said had been running too high. </p><p>Asked whether the central bank would raise interest rates soon, Zhou said they were seriously studying the inflation situation and would take "appropriate measures". </p></div>
China will take steps to contain a renewed burst in bank lending and a larger-than-expected rise in the country's controversial trade surplus last month, senior officials said on Friday. Speaking on the sidelines of a annual parliamentary session, which ends on Friday, central bank governor Zhou Xiaochuan said the authorities would place further controls on bank lending."From a commercial perspective, it is understandable for the banks to lend aggressively at the beginning of the year," Zhou told reporters. "But from a macro perspective, after serious study, we decided to place further controls (on it)," he said. He did not offer any timeframe. Lending data released this week reinforced concern that banks, awash with cash, may fund a new round of speculative investment. Lending surged by 413.8 billion yuan in February, compared with an increase of 149.1 billion yuan in February 2006. Separately, Commerce Minister Bo Xilai said the nation's trade surplus had been "too large" in February and reaffirmed that Beijing planned new steps to trim exports and step up imports. China on Monday reported its second-biggest monthly trade surplus on record, dwarfing forecasts and handing fresh ammunition to critics who say Beijing is giving its exporters an unfair edge by holding down the yuan. The surplus for February ballooned to $23.76 billion, with exports leaping 51.7% from a year earlier. "We are also very nervous about that," Bo said of the size of February's surplus. "We're seriously studying the whole situation to find the underlying reasons." One reason for the surge was a propensity among Chinese firms to ship their goods out of the country to prevent them from being penalized by possible policy changes, he said. The Commerce ministry would make appropriate adjustments to the export tax rebate system, paying special attention to the area of processing trade as that generated the biggest portion of the surplus, Bo told reporters, without giving details. Zhou also said the authorities were keeping a wary eye on inflation, which he said had been running too high. Asked whether the central bank would raise interest rates soon, Zhou said they were seriously studying the inflation situation and would take "appropriate measures".
2021-10-30 14:11:28.812917
Halftime Report: Watch Goldman Action Closely Into Close
https://www.cnbc.com/2009/10/22/halftime-report-watch-goldman-action-closely-into-close.html
2009-10-22T17:23:03+0000
Lee Brodie
CNBC
Stocks were searching for direction on Thursday with investors digesting generally positive earnings reports versus not so positive economic news.Among the Dow components 3M, Travelers and McDonald's all posted solid results suggesting strength, however, the number of workers filing new jobless claims rose by 11,000 last week, indicating the labor market remains fragile.Adding to the negative tone, one day earlier, widely followed bank analyst Dick Bove cut his view of Wells Fargo saying loan losses were mounting. However Wells along with Goldman and other banks shrugged off the negative comments and trended higher.How should you be positioned?
cnbc, Articles, S&P 500 Index, Alexion Pharmaceuticals Inc, Capital One Financial Corp, Goldman Sachs Group Inc, HP Inc, 3M Co, Microsoft Corp, Travelers Companies Inc, Wells Fargo & Co, McDonald's Corp, Fast Money, CNBC TV, Fast Money Halftime Report, source:tagname:CNBC US Source
https://sc.cnbcfm.com/ap…1804&w=720&h=405
<div class="group"><p>Stocks were searching for direction on Thursday with investors digesting generally positive earnings reports versus not so positive economic news.</p><p>Among the Dow components 3M, Travelers and McDonald's all posted solid results suggesting strength, however, the number of workers filing new jobless claims rose by 11,000 last week, indicating the labor market remains fragile.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Adding to the negative tone, one day earlier, widely followed bank analyst Dick Bove cut his view of Wells Fargo saying loan losses were mounting. However Wells along with Goldman and other banks shrugged off the negative comments and trended higher.</p><p>How should you be positioned?</p></div>,<div class="group"><p><strong>Instant Insights with the Fast Money traders</strong></p><p>It seems to me investors are digesting the harsh sell-off that followed Bove’s comments, muses OptionMonster Jon Najarian. Personally, I think it’s positive that the S&amp;P has stabilized at this level. And I’m watching Goldman closely, he adds.   Positive momentum in Goldman shares could be a ‘tell’ for the market overall. Into the close, if Goldman goes up, I think the market goes up. Follow the money.</p><p>It seems to me resistance at these levels is strong, muses Mike Gurka of Empower. By and large earnings have been beating expectations. With trim payrolls and lower inventories the future may look brighter for Corporate America.</p><div style="height:100%" class="lazyload-placeholder"></div><p>I’m watching the December S&amp;P contract, explains Greg Troccoli of Opalesque. Any close below 1071 and I would sell the S&amp;P outright and take a <em>short </em>position. As for Goldman, I would not be a buyer at these levels. The stock has almost quadrupled since last November. I think upside is limited. <strong><br><br></strong>In the banking space I’m watching Capital One, adds Jim Strugger of MKM. Around 37.50, I’d take a shot with a 38- strike call in November.</p><p><strong>TAKE YOUR POSITION: MICROSOFT</strong></p><p>Tech investors are keeping a close eye on Microsoft Thursday. The software giant reports earnings on Friday before the bell. <br><br>Ahead of the results, the company launched Windows 7 OS, its most important release for more than a decade, aiming to win back customers after the disappointing Vista and strengthen its grip on the PC market.<br><br>The success of Windows -- which accounts for more than half of Microsoft's profit -- is crucial for Chief Executive Steve Ballmer to revive the company's image as the world's most important software firm<br></p><p><strong>What’s the trade?</strong></p><p>I think over the long run Windows 7 will do well, muses Mike Gurka. But on the day-to-day side of trading, I wouldn’t be surprised to see the market anticipate a pullback in this stock.<br><br>I would buy Microsoft on weakness, counsels Jon Najarian. And I’d take a look at Hewlett Packard as a beneficiary of Windows 7.</p><p>-------</p><p><strong>WITH OIL AT $80 TIME TO BUY?</strong></p><p>Oil slipped below $81 on Thursday as a stronger dollar encouraged investors to lock into profits from a 12-month high hit the previous day.</p><p>On Wednesday, U.S. crude surged to $82, the highest price since October last year, as weekly U.S. government oil data showed a large drop in gasoline inventories over the last week and fuel demand rising about 4 percent year-on-year.</p><p>It's also important to note that many analysts think the oil trade is more about the dollar right now than supply and demand.</p><p>It is becoming almost imperative to trade the commodity markets from the perspective of the dollar these days, as nothing else seems to count for very much, MF Global wrote in a research note.</p><p><strong>What’s the trade?</strong></p><p>I’m a buyer, says Greg Troccoli. As long as oil stays above $76 I think it goes to $89.<br><br>--------</p><p><strong>FAST &amp; FURIOUS: THE KEY QUESTIONS INTO THE CLOSE</strong></p><p><strong>BUY AXP?</strong> With American Express reporting after the bell today, should you buy?</p><p>I’m seeing mild bullish options action, explains Jon Najarian.<br><br><strong>BUY BNI?</strong> Buffett favorite Burlington Northern is set to report after the bell, should you buy?</p><p>I’m a buyer, reveals Mike Gurka. I think the company is well positioned domestically.</p><p>--------</p><p><strong>CALL THE CLOSE</strong></p><p>Jon Najarian: If Goldman goes up, I think the market should go up. Follow the money.</p><p>Greg Troccoli : I’m a seller</p><p>Mike Gurka : Don’t sell</p><p>Jim Strugger from Stamford: I’m buy puts against long stock.</p><p><br></p><p>______________________________________________________<br>Got something to to say? Send us an e-mail at <a href="mailto:[email protected]" class="webresource" target="_blank">[email protected]</a> and your comment might be posted on the <em>Rapid Recap. </em>If you'd prefer to make a comment but not have it published on our website send those e-mails to <!-- -->.<br><br><em>Trader disclosure: On October 22nd, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (CEPH) Call Spread; Najarian Owns (LAZ), Is Short (LAZ) Calls, Owns (LAZ) Puts; Najarian Owns (RIMM) Call Spread; Najarian Owns (STX) Call Spread; Najarian Owns (XLF) Call Spread; Najarian Owns (YHOO) Call Spread; Finerman's Firm Owns (CLX), (MSFT), (NOK), (WMT); Finerman's Firm Owns (BAC) Preferred, (BAC), (BAC) Call Spreads; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm Owns (WFC) Preferred; Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO), (UNG), (CAKE); Finerman's Firm Owns (YUM); Finerman's Firm Owns (BKC); Finerman's Firm Is Short (CPKI); Terranova Owns (SUN), (HES), (NOV), (GS); Seymour Owns (MSFT); Seygem Asset Management Is Short (MELI)<br><br>For JoeTerranova<br>Terranova Works For (VRTS)<br>Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.<br>Virtus Investment Partners Owns More Than 1% Of (XLY)<br>Virtus Investment Partners Owns More Than 1% Of (CAL)<br>Virtus Investment Partners Owns More Than 1% Of (CLB)<br>Virtus Investment Partners Owns More Than 1% Of  (DLR)<br>Virtus Investment Partners Owns More Than 1% Of  (EXR)<br>Virtus Investment Partners Owns More Than 1% Of (XLI)<br>Virtus Investment Partners Owns More Than 1% Of  (IGE)<br>Virtus Investment Partners Owns More Than 1% Of (XLB)<br>Virtus Investment Partners Owns More Than 1% Of (DBA)<br>Virtus Investment Partners Owns More Than 1% Of  (DBV)<br>Virtus Investment Partners Owns More Than 1% Of  (UA)<br><br>For Bill Fleckenstein<br>Fleckenstein's Fund Owns (MSFT)<br>Fleckenstein's Fund Owns (LLY)<br>Fleckenstein's Fund And Fleckenstein Own Gold<br>Fleckenstein Owns (LLY)</em><br><br>CNBC.com with wires</p></div>
Stocks were searching for direction on Thursday with investors digesting generally positive earnings reports versus not so positive economic news.Among the Dow components 3M, Travelers and McDonald's all posted solid results suggesting strength, however, the number of workers filing new jobless claims rose by 11,000 last week, indicating the labor market remains fragile.Adding to the negative tone, one day earlier, widely followed bank analyst Dick Bove cut his view of Wells Fargo saying loan losses were mounting. However Wells along with Goldman and other banks shrugged off the negative comments and trended higher.How should you be positioned?Instant Insights with the Fast Money tradersIt seems to me investors are digesting the harsh sell-off that followed Bove’s comments, muses OptionMonster Jon Najarian. Personally, I think it’s positive that the S&P has stabilized at this level. And I’m watching Goldman closely, he adds.   Positive momentum in Goldman shares could be a ‘tell’ for the market overall. Into the close, if Goldman goes up, I think the market goes up. Follow the money.It seems to me resistance at these levels is strong, muses Mike Gurka of Empower. By and large earnings have been beating expectations. With trim payrolls and lower inventories the future may look brighter for Corporate America.I’m watching the December S&P contract, explains Greg Troccoli of Opalesque. Any close below 1071 and I would sell the S&P outright and take a short position. As for Goldman, I would not be a buyer at these levels. The stock has almost quadrupled since last November. I think upside is limited. In the banking space I’m watching Capital One, adds Jim Strugger of MKM. Around 37.50, I’d take a shot with a 38- strike call in November.TAKE YOUR POSITION: MICROSOFTTech investors are keeping a close eye on Microsoft Thursday. The software giant reports earnings on Friday before the bell. Ahead of the results, the company launched Windows 7 OS, its most important release for more than a decade, aiming to win back customers after the disappointing Vista and strengthen its grip on the PC market.The success of Windows -- which accounts for more than half of Microsoft's profit -- is crucial for Chief Executive Steve Ballmer to revive the company's image as the world's most important software firmWhat’s the trade?I think over the long run Windows 7 will do well, muses Mike Gurka. But on the day-to-day side of trading, I wouldn’t be surprised to see the market anticipate a pullback in this stock.I would buy Microsoft on weakness, counsels Jon Najarian. And I’d take a look at Hewlett Packard as a beneficiary of Windows 7.-------WITH OIL AT $80 TIME TO BUY?Oil slipped below $81 on Thursday as a stronger dollar encouraged investors to lock into profits from a 12-month high hit the previous day.On Wednesday, U.S. crude surged to $82, the highest price since October last year, as weekly U.S. government oil data showed a large drop in gasoline inventories over the last week and fuel demand rising about 4 percent year-on-year.It's also important to note that many analysts think the oil trade is more about the dollar right now than supply and demand.It is becoming almost imperative to trade the commodity markets from the perspective of the dollar these days, as nothing else seems to count for very much, MF Global wrote in a research note.What’s the trade?I’m a buyer, says Greg Troccoli. As long as oil stays above $76 I think it goes to $89.--------FAST & FURIOUS: THE KEY QUESTIONS INTO THE CLOSEBUY AXP? With American Express reporting after the bell today, should you buy?I’m seeing mild bullish options action, explains Jon Najarian.BUY BNI? Buffett favorite Burlington Northern is set to report after the bell, should you buy?I’m a buyer, reveals Mike Gurka. I think the company is well positioned domestically.--------CALL THE CLOSEJon Najarian: If Goldman goes up, I think the market should go up. Follow the money.Greg Troccoli : I’m a sellerMike Gurka : Don’t sellJim Strugger from Stamford: I’m buy puts against long stock.______________________________________________________Got something to to say? Send us an e-mail at [email protected] 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 .Trader disclosure: On October 22nd, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (CEPH) Call Spread; Najarian Owns (LAZ), Is Short (LAZ) Calls, Owns (LAZ) Puts; Najarian Owns (RIMM) Call Spread; Najarian Owns (STX) Call Spread; Najarian Owns (XLF) Call Spread; Najarian Owns (YHOO) Call Spread; Finerman's Firm Owns (CLX), (MSFT), (NOK), (WMT); Finerman's Firm Owns (BAC) Preferred, (BAC), (BAC) Call Spreads; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm Owns (WFC) Preferred; Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO), (UNG), (CAKE); Finerman's Firm Owns (YUM); Finerman's Firm Owns (BKC); Finerman's Firm Is Short (CPKI); Terranova Owns (SUN), (HES), (NOV), (GS); Seymour Owns (MSFT); Seygem Asset Management Is Short (MELI)For JoeTerranovaTerranova Works For (VRTS)Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.Virtus Investment Partners Owns More Than 1% Of (XLY)Virtus Investment Partners Owns More Than 1% Of (CAL)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 (XLI)Virtus Investment Partners Owns More Than 1% Of  (IGE)Virtus Investment Partners Owns More Than 1% Of (XLB)Virtus Investment Partners Owns More Than 1% Of (DBA)Virtus Investment Partners Owns More Than 1% Of  (DBV)Virtus Investment Partners Owns More Than 1% Of  (UA)For Bill FleckensteinFleckenstein's Fund Owns (MSFT)Fleckenstein's Fund Owns (LLY)Fleckenstein's Fund And Fleckenstein Own GoldFleckenstein Owns (LLY)CNBC.com with wires
2021-10-30 14:11:28.909289
Porn and the Condom Conundrum
https://www.cnbc.com/2012/01/18/porn-and-the-condom-conundrum.html
2012-01-18T22:09:31+0000
null
CNBC
Los Angeles may be about to lose its title as the US porn capital.
cnbc, Articles, Business News, Life, Entertainment, Adult Entertainment, Adult Entertainment Expo, Porn Convention 2012, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1348154645
<div class="group"><p>Los Angeles may be about to <a href="http://www.foxnews.com/us/2012/01/18/porn-industry-mulls-leaving-la-if-condoms-required/" class="webresource" target="_blank">lose its title </a>as the US porn capital. </p></div>,<div class="group"><p>The L.A. City Council voted Tuesday to make <a href="http://www.nbclosangeles.com/news/local/City-Council-Votes-in-Favor-of-Mandatory-Condom-Use-137042373.html" class="webresource" target="_blank">condom use mandatory in adult films</a>. And adult studios are already planning how to minimize the effects of that law.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Technically, the legislation, which will tie mandatory condom use on set to city film permit approvals for porn shoots, needs to first be approved by the city's mayor — and won't go into effect until police officials, the city attorney and others figure out how it might be enforced. That gives adult entertainment companies time to adapt. And some of the biggest studios say the first option is to relocate production to other areas. </p><p>"[Studios] will move out of the city of L.A. and they'll stop shooting here," says Steven Hirsch, founder and co-chairman of <strong>Vivid Entertainment</strong>, the industry's largest studio. "There's no question of that. … I'm not sure what they're going to accomplish aside from kicking the industry outside of the city " </p><p>Hirsch estimates porn studios have shot over 300,000 scenes in the past six years, with the majority of those being filmed in the L.A. area. (The San Fernando Valley <a href="http://en.wikipedia.org/wiki/San_Fernando_Valley" class="webresource" target="_blank">is nicknamed "Porn Valley"</a> because of the industry's tight concentration there.) </p><p>A filming permit in L.A. carries a <a href="http://file.lacounty.gov/bc/q1_2011/cms1_158444.pdf" class="webresource" target="_blank">basic application fee of $625</a> and usually comes with additional costs, depending on location and the activities filmed. That makes the porn industry a notable source of revenue for the city. </p><p>Scott Taylor, founder of <strong>New Sensations</strong>, says his company will comply with the law for L.A. shoots, but he, too, expects to move filming outside the city. </p><div style="height:100%" class="lazyload-placeholder"></div><p>"L.A. County does have borders and if we need to adapt, we will," he says. "It's a real pain to do so, but we will have to find off-the-beaten-path locations." </p></div>,<div class="group"><p>One location that could become a new favorite is Las Vegas. The town that bills itself "Sin City" is already a second home to the porn industry, playing host to its annual convention each year. Additionally, there are tax savings to be had by shooting there that could cover some of the expenses of moving production to the area. </p><p>Ultimately, say studio executives, the decision on where to focus shooting if they do move productions outside of L.A. will depend on where the performers settle. </p><p>The decision to make condom use mandatory for adult actors is a <a href="http://www.aidshealth.org/los-angeles-makes-condom-use-mandatory-for-adult-film-actors" class="webresource" target="_blank">notable win</a>for the <a href="http://www.aidshealth.org/" class="webresource" target="_blank">AIDS Healthcare Foundation</a>, which has been lobbying for it for some time. <a href="http://www.freespeechcoalition.com/" class="webresource" target="_blank">The Free Speech Coalition</a>, the porn industry's trade association, criticized the vote. A legal challenge is possible, though isn't certain, say insiders. </p><p>And the porn exodus might not stop at filming locations. Hirsch says Vivid hasn't made any final decisions but is not opposed to relocating to another city if performers begin to settle in a new territory. </p></div>,<div class="group"><p>That's a move of last resort, of course. Moving a company to another state carries a lot of expense — and for a studio as diversified as Vivid or New Sensations, it's not always practical.</p><p>Taylor, for instance, says he has no plans to leave L.A. </p><p>"I have a multitude of businesses," he says. "I have a distribution facility that puts the products in stores and an Internet division that handles a lot of digital sites, so uprooting that core and moving it really isn't realistic." </p><p>Smaller studios, though, might be more willing to uproot. Or, alternatively, they might simply ignore the regulations or film without permits — as many currently do. </p><p>"There will be many smaller companies that will go ahead and shoot anyway," notes Hirsch. "Some people will shoot their movies regardless." </p><p>Some porn studios, meanwhile, won't be affected at all by the law. <strong>Girlfriend Films</strong>, which specializes in lesbian movies, won't have to change its practices. And <strong>Wicked Pictures </strong>has maintained a condoms-only policy since 2004, putting it in compliance with the new legislation.</p></div>
Los Angeles may be about to lose its title as the US porn capital. The L.A. City Council voted Tuesday to make condom use mandatory in adult films. And adult studios are already planning how to minimize the effects of that law.Technically, the legislation, which will tie mandatory condom use on set to city film permit approvals for porn shoots, needs to first be approved by the city's mayor — and won't go into effect until police officials, the city attorney and others figure out how it might be enforced. That gives adult entertainment companies time to adapt. And some of the biggest studios say the first option is to relocate production to other areas. "[Studios] will move out of the city of L.A. and they'll stop shooting here," says Steven Hirsch, founder and co-chairman of Vivid Entertainment, the industry's largest studio. "There's no question of that. … I'm not sure what they're going to accomplish aside from kicking the industry outside of the city " Hirsch estimates porn studios have shot over 300,000 scenes in the past six years, with the majority of those being filmed in the L.A. area. (The San Fernando Valley is nicknamed "Porn Valley" because of the industry's tight concentration there.) A filming permit in L.A. carries a basic application fee of $625 and usually comes with additional costs, depending on location and the activities filmed. That makes the porn industry a notable source of revenue for the city. Scott Taylor, founder of New Sensations, says his company will comply with the law for L.A. shoots, but he, too, expects to move filming outside the city. "L.A. County does have borders and if we need to adapt, we will," he says. "It's a real pain to do so, but we will have to find off-the-beaten-path locations." One location that could become a new favorite is Las Vegas. The town that bills itself "Sin City" is already a second home to the porn industry, playing host to its annual convention each year. Additionally, there are tax savings to be had by shooting there that could cover some of the expenses of moving production to the area. Ultimately, say studio executives, the decision on where to focus shooting if they do move productions outside of L.A. will depend on where the performers settle. The decision to make condom use mandatory for adult actors is a notable winfor the AIDS Healthcare Foundation, which has been lobbying for it for some time. The Free Speech Coalition, the porn industry's trade association, criticized the vote. A legal challenge is possible, though isn't certain, say insiders. And the porn exodus might not stop at filming locations. Hirsch says Vivid hasn't made any final decisions but is not opposed to relocating to another city if performers begin to settle in a new territory. That's a move of last resort, of course. Moving a company to another state carries a lot of expense — and for a studio as diversified as Vivid or New Sensations, it's not always practical.Taylor, for instance, says he has no plans to leave L.A. "I have a multitude of businesses," he says. "I have a distribution facility that puts the products in stores and an Internet division that handles a lot of digital sites, so uprooting that core and moving it really isn't realistic." Smaller studios, though, might be more willing to uproot. Or, alternatively, they might simply ignore the regulations or film without permits — as many currently do. "There will be many smaller companies that will go ahead and shoot anyway," notes Hirsch. "Some people will shoot their movies regardless." Some porn studios, meanwhile, won't be affected at all by the law. Girlfriend Films, which specializes in lesbian movies, won't have to change its practices. And Wicked Pictures has maintained a condoms-only policy since 2004, putting it in compliance with the new legislation.
2021-10-30 14:11:28.996152
Stocks making the biggest moves midday: Activision, Snap, Ford & more
https://www.cnbc.com/2021/02/05/stocks-making-the-biggest-moves-midday-activision-snap-ford-more.html
2021-02-05T17:30:52+0000
Thomas Franck
CNBC
Check out the companies making headlines in midday trading.Ford — The legacy automaker's stock rose 2% after Ford reported better than expected earnings for the fourth quarter and updated investors on its plans for electric and autonomous vehicles. The company said it will spend $29 billion on the new technology through 2025. Revenue for the fourth quarter did miss expectations, however.T-Mobile — Shares of the telecommunications company fell more than 3% despite a stronger-than-expected fourth quarter report. T-Mobile reported 60 cents in earnings per share and $20.34 billion in revenue. Analysts surveyed by Refinitiv had penciled in 51 cents per share and $19.93 billion in revenue. The company's guidance for cash flow metrics in 2021 missed expectations, however, according to FactSet.Peloton — Shares of the at-home cycling stock fell more than 7% after the company outlined ongoing supply chain issues amid a surge in demand for its products. Peloton, however, reported sales growth of 128% during the fiscal second quarter, bringing in more than $1 billion in a single quarter for the first time in the company's history. Peloton earned 18 cents versus the 9-cent profit expected by the Street. Revenue came in a $1.06 billion, also ahead of the expected $1.03 billion, according to Refinitiv.Activision Blizzard — The video game maker led the S&P 500 on Friday with a nearly 10% gain after it reported fourth-quarter profit and revenues ahead of Wall Street's expectations. Rob Kostich, president of Activision Publishing, said Thursday evening that its "Call of Duty" franchise, including free-to-play "Warzone," was a key driver of the company's business in 2020 and that the game is "going to be front and center for us for a long time."Snap — The social media company saw its shares jump nearly 6% after beating expectations on earnings, revenue and user growth. Snap posted an adjusted earnings per share of 9 cents, versus 7 cents expected by analysts, according to Refinitiv. However, the company issued a light first-quarter guidance and warned that Apple's privacy changes could "present another risk of interruption to demand."Estee Lauder — The makeup company saw its shares rise 7.5% in midday trading after it reported a surprise fiscal second-quarter sales gain instead of the decline it had expected. Estee Lauder said stronger Asia-Pacific and online sales drove the revenue gain. Second-quarter sales in the Americas dropped to $1.05 billion from $1.23 billion a year ago.— CNBC's Yun Li, Maggie Fitzgerald and Jesse Pound contributed.
cnbc, Articles, Breaking news, Market Insider, Markets, Economy, Business, Stock markets, Breaking News: Markets, Forward Industries Inc, Deutsche Bank AG, United States, Ford Motor Co, T-Mobile US Inc, Peloton Interactive Inc, Activision Blizzard Inc, Snap Inc, Estee Lauder Companies Inc, Finance, stocks, U.S. Markets, source:tagname:CNBC US Source
https://image.cnbcfm.com…peg?v=1612545324
<div class="group"><p><em>Check out the companies making headlines in midday trading.</em></p><p><a href="//www.cnbc.com/quotes/F" target="_blank">Ford</a> — The legacy automaker's stock rose 2% after Ford reported <a href="https://www.cnbc.com/2021/02/04/ford-f-earnings-q4-2020.html">better than expected earnings</a> for the fourth quarter and updated investors on its plans for electric and autonomous vehicles. The company said it will spend $29 billion on the new technology through 2025. Revenue for the fourth quarter did miss expectations, however.</p><div style="height:100%" class="lazyload-placeholder"></div><p><a href="//www.cnbc.com/quotes/TMUS" target="_blank">T-Mobile</a> — Shares of the telecommunications company fell more than 3% despite a stronger-than-expected fourth quarter report. T-Mobile reported 60 cents in earnings per share and $20.34 billion in revenue. Analysts surveyed by Refinitiv had penciled in 51 cents per share and $19.93 billion in revenue. The company's guidance for cash flow metrics in 2021 missed expectations, however, according to FactSet.</p><p><a href="//www.cnbc.com/quotes/PTON" target="_blank">Peloton</a> — Shares of the at-home cycling stock fell more than 7% after the company outlined ongoing supply chain issues amid a surge in demand for its products. Peloton, however, reported sales growth of 128% during the fiscal second quarter, bringing in more than $1 billion in a single quarter for the first time in the company's history. Peloton earned 18 cents versus the 9-cent profit expected by the Street. Revenue came in a $1.06 billion, also ahead of the expected $1.03 billion, according to Refinitiv.</p><p><a href="//www.cnbc.com/quotes/ATVI" target="_blank">Activision Blizzard</a> — The video game maker led the S&amp;P 500 on Friday with a nearly 10% gain after it reported fourth-quarter profit and revenues ahead of Wall Street's expectations. Rob Kostich, president of Activision Publishing, said Thursday evening that its "Call of Duty" franchise, including free-to-play "Warzone," was a key driver of the company's business in 2020 and that the game is "going to be front and center for us for a long time."</p><p><a href="//www.cnbc.com/quotes/SNAP" target="_blank">Snap</a> — The social media company saw its shares jump nearly 6% after <a href="https://www.cnbc.com/2021/02/04/snap-snap-earnings-q4-2020.html">beating expectations on earnings, revenue and user growth</a>. Snap posted an adjusted earnings per share of 9 cents, versus 7 cents expected by analysts, according to Refinitiv. However, the company issued a light first-quarter guidance and warned that Apple's privacy changes could "present another risk of interruption to demand."</p><p><a href="//www.cnbc.com/quotes/EL" target="_blank">Estee Lauder</a> — The makeup company saw its shares rise 7.5% in midday trading after it reported a surprise fiscal second-quarter sales gain instead of the decline it had expected. Estee Lauder said stronger Asia-Pacific and online sales drove the revenue gain. Second-quarter sales in the Americas dropped to $1.05 billion from $1.23 billion a year ago.</p><p>— <em>CNBC's Yun Li, Maggie Fitzgerald and Jesse Pound contributed.</em></p></div>
Check out the companies making headlines in midday trading.Ford — The legacy automaker's stock rose 2% after Ford reported better than expected earnings for the fourth quarter and updated investors on its plans for electric and autonomous vehicles. The company said it will spend $29 billion on the new technology through 2025. Revenue for the fourth quarter did miss expectations, however.T-Mobile — Shares of the telecommunications company fell more than 3% despite a stronger-than-expected fourth quarter report. T-Mobile reported 60 cents in earnings per share and $20.34 billion in revenue. Analysts surveyed by Refinitiv had penciled in 51 cents per share and $19.93 billion in revenue. The company's guidance for cash flow metrics in 2021 missed expectations, however, according to FactSet.Peloton — Shares of the at-home cycling stock fell more than 7% after the company outlined ongoing supply chain issues amid a surge in demand for its products. Peloton, however, reported sales growth of 128% during the fiscal second quarter, bringing in more than $1 billion in a single quarter for the first time in the company's history. Peloton earned 18 cents versus the 9-cent profit expected by the Street. Revenue came in a $1.06 billion, also ahead of the expected $1.03 billion, according to Refinitiv.Activision Blizzard — The video game maker led the S&P 500 on Friday with a nearly 10% gain after it reported fourth-quarter profit and revenues ahead of Wall Street's expectations. Rob Kostich, president of Activision Publishing, said Thursday evening that its "Call of Duty" franchise, including free-to-play "Warzone," was a key driver of the company's business in 2020 and that the game is "going to be front and center for us for a long time."Snap — The social media company saw its shares jump nearly 6% after beating expectations on earnings, revenue and user growth. Snap posted an adjusted earnings per share of 9 cents, versus 7 cents expected by analysts, according to Refinitiv. However, the company issued a light first-quarter guidance and warned that Apple's privacy changes could "present another risk of interruption to demand."Estee Lauder — The makeup company saw its shares rise 7.5% in midday trading after it reported a surprise fiscal second-quarter sales gain instead of the decline it had expected. Estee Lauder said stronger Asia-Pacific and online sales drove the revenue gain. Second-quarter sales in the Americas dropped to $1.05 billion from $1.23 billion a year ago.— CNBC's Yun Li, Maggie Fitzgerald and Jesse Pound contributed.
2021-10-30 14:11:29.149353
All Eyes on Europe
https://www.cnbc.com/2011/10/25/all-eyes-on-europe.html
2011-10-25T21:19:30+0000
Lee Brodie
CNBC
Unless you live under a rock, you know that the investors are focused on one thing – Europe.And a key summit is expected to conclude on Wednesday afternoon with optimists hoping to hear that leaders have come up with a comprehensive plan to stem the crisis.Of course, that’s not to say there aren’t pessimists – there are. And growing chatter on the floor suggests markets are likely to be disappointed by the comments. Waht should you expect? Get all the details from Sony Kapoor, managing director of Re-Define Think Tank. Watch the video now!
cnbc, Articles, CNBC TV, Fast Money, source:tagname:CNBC US Source
https://sc.cnbcfm.com/ap…1804&w=720&h=405
<div class="group"><p>Unless you live under a rock, you know that the investors are focused on one thing – Europe.<br><br>And a key summit is expected to conclude on Wednesday afternoon with optimists hoping to hear that leaders have come up with a comprehensive plan to stem the crisis.<br><br>Of course, that’s not to say there aren’t pessimists – there are. <br><br>And growing chatter on the floor suggests markets are likely to be disappointed by the comments. <br><br>Waht should you expect? Get all the details from Sony Kapoor, managing director of Re-Define Think Tank. Watch the video now!</p></div>,<div class="group"><p><br></p><div style="height:100%" class="lazyload-placeholder"></div><p><br><br></p><p><br></p><p><br></p><p>______________________________________________________<br>Got something to to say? Send us an e-mail at <a href="mailto:[email protected]" class="webresource" target="_blank">[email protected]</a> and your comment might be posted on the <em>Rapid Recap. </em>If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to </p><p><br></p><div style="height:100%" class="lazyload-placeholder"></div><p><em>Trader disclosure: On October 25, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; </em><em>Nathan is long Oct. put spread AMZN; Nathan is long Jan. put spread BAC; Nathan is long Nov. put spread MS; Nathan is long Oct. put butterfly NFLX; Nathan is long Oct. put spread GS; Nathan is long Mar. call spread RIMM; Adami Owns AGU; Adami Owns C; Adami Owns GS; Adami Owns INTC; Adami Owns MSFT; Adami Owns NUE; Adami Owns BTU; </em><em>Finerman owns AAPL; Finerman owns GOOG; Finerman owns JPM stock leaps; Finerman owns MSFT; Finerman’s firm owns AAPL; Finerman’s firm owns JPM stock leaps; Finerman’s firm owns MSFT; Finerman’s firm owns short calls IBM; </em><em>Terranova owns IBM; Terranova owns AAPL; Terranova owns AXP; Terranova owns CAT; Terranova owns F; Terranova owns GS; Terranova owns OXY; Terranova owns FCX; Terranova owns LQD; Terranova owns MUB</em></p><p><em>For Brian Kelly<br>Shelter Harbor Capital is long GLD<br>Shelter Harbor Capital is long soybeans<br>Shelter Harbor Capital is long corn<br>Shelter Harbor Capital is long MON<br>Shelter Harbor Capital is long JJG</em></p><p><em>For Jim Iuorio <br>Iuorio is short Nov. calls VXX<br>Iuorio is long Dec. calls VXX</em></p><p><em>For Ron Insana <br>No disclosures</em></p><p><em>For Colin Gillis<br>This report is for informational purposes only and is based on publicly available data believed to be reliable, but no representation is made that such data are accurate or complete. Opinions and projections contained herein reflect our opinion as of the date of this report and are subject to change. Pursuant to BGC Financial LP’s policy, the author of this report does not own shares in any company he/she covers.</em></p><p><em>For Efraim Levy<br>Ratings from Standard &amp; Poor’s Ratings Services are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions. Standard &amp; Poor’s assumes no obligation to update its opinions following publication in any form or format. Standard &amp; Poor’s ratings should not be relied on and are not substitutes for the skill, judgment and experience of the user, its management, employees, advisors and/or clients when making investment and other business decisions. Standard &amp; Poor’s rating opinions do not address the suitability of any security. Standard &amp; Poor’s does not act as a fiduciary. While Standard &amp; Poor’s has obtained information from sources it believes to be reliable, Standard &amp; Poor’s does not perform an audit and undertakes no duty of due diligence or independent verification of any information it receives.</em></p><p><em>For Sony Kapoor <br>No disclosures</em></p><p><em>For Mike Vorhaus<br>No disclosures<br><br><br></em></p><p>CNBC.com with wires. </p></div>
Unless you live under a rock, you know that the investors are focused on one thing – Europe.And a key summit is expected to conclude on Wednesday afternoon with optimists hoping to hear that leaders have come up with a comprehensive plan to stem the crisis.Of course, that’s not to say there aren’t pessimists – there are. And growing chatter on the floor suggests markets are likely to be disappointed by the comments. Waht should you expect? Get all the details from Sony Kapoor, managing director of Re-Define Think Tank. Watch the video now!______________________________________________________Got something to to say? Send us an e-mail at [email protected] 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 those e-mails to Trader disclosure: On October 25, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Nathan is long Oct. put spread AMZN; Nathan is long Jan. put spread BAC; Nathan is long Nov. put spread MS; Nathan is long Oct. put butterfly NFLX; Nathan is long Oct. put spread GS; Nathan is long Mar. call spread RIMM; Adami Owns AGU; Adami Owns C; Adami Owns GS; Adami Owns INTC; Adami Owns MSFT; Adami Owns NUE; Adami Owns BTU; Finerman owns AAPL; Finerman owns GOOG; Finerman owns JPM stock leaps; Finerman owns MSFT; Finerman’s firm owns AAPL; Finerman’s firm owns JPM stock leaps; Finerman’s firm owns MSFT; Finerman’s firm owns short calls IBM; Terranova owns IBM; Terranova owns AAPL; Terranova owns AXP; Terranova owns CAT; Terranova owns F; Terranova owns GS; Terranova owns OXY; Terranova owns FCX; Terranova owns LQD; Terranova owns MUBFor Brian KellyShelter Harbor Capital is long GLDShelter Harbor Capital is long soybeansShelter Harbor Capital is long cornShelter Harbor Capital is long MONShelter Harbor Capital is long JJGFor Jim Iuorio Iuorio is short Nov. calls VXXIuorio is long Dec. calls VXXFor Ron Insana No disclosuresFor Colin GillisThis report is for informational purposes only and is based on publicly available data believed to be reliable, but no representation is made that such data are accurate or complete. Opinions and projections contained herein reflect our opinion as of the date of this report and are subject to change. Pursuant to BGC Financial LP’s policy, the author of this report does not own shares in any company he/she covers.For Efraim LevyRatings from Standard & Poor’s Ratings Services are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions. Standard & Poor’s assumes no obligation to update its opinions following publication in any form or format. Standard & Poor’s ratings should not be relied on and are not substitutes for the skill, judgment and experience of the user, its management, employees, advisors and/or clients when making investment and other business decisions. Standard & Poor’s rating opinions do not address the suitability of any security. Standard & Poor’s does not act as a fiduciary. While Standard & Poor’s has obtained information from sources it believes to be reliable, Standard & Poor’s does not perform an audit and undertakes no duty of due diligence or independent verification of any information it receives.For Sony Kapoor No disclosuresFor Mike VorhausNo disclosuresCNBC.com with wires.
2021-10-30 14:11:29.463133
Italy Prime Minister Monti to Meet Central Bank Governor, Economy Minister on Post-Election Crisis
https://www.cnbc.com/2013/02/26/italy-prime-minister-monti-to-meet-central-bank-governor-economy-minister-on-postelection-crisis.html
2013-02-26T09:32:17+0000
null
CNBC
This is a developing story, please check back for more(Read More: Berlusconi Rules Out Alliance With Monti)(Read More: European Shares Sharply Lower on Italy Poll Results)
cnbc, Articles, Politics, Economy, Business News, World Economy, Europe News, source:tagname:CNBC US Source
https://sc.cnbcfm.com/ap…1804&w=720&h=405
<div class="group"><p><strong>This is a developing story, please check back for more</strong><br></p><p>(<em>Read More:</em> <a href="https://www.cnbc.com/2013/02/26/berlusconi-rules-out-alliance-with-monti-italian-yields-jump.html">Berlusconi Rules Out Alliance With Monti</a>)</p><div style="height:100%" class="lazyload-placeholder"></div><p>(<em>Read More:</em> <a href="https://www.cnbc.com/2013/02/26/euro-zone-stocks-at-3month-low-on-italy-vote-stalemate.html">European Shares Sharply Lower on Italy Poll Results</a>)</p></div>,<div class="group"></div>
This is a developing story, please check back for more(Read More: Berlusconi Rules Out Alliance With Monti)(Read More: European Shares Sharply Lower on Italy Poll Results)
2021-10-30 14:11:29.612638
Citigroup to Halve Investment Spending in 2007
https://www.cnbc.com/2006/12/14/citigroup-to-halve-investment-spending-in-2007.html
2006-12-14T23:29:44+0000
null
CNBC
Citigroup, the top U.S. bank by assets, expects its investment spending next year to be less than half the 2006 level, its chief executive said on Thursday, acknowledging that its consumer bank has yet to turn the corner. Speaking at the bank's analyst day presentation, Charles "Chuck" Prince also said he shares investors' frustration with the bank's lackluster share performance, but encouraged shareholders to be patient. "I feel very good about the changes were making ... but there's no short-cut to get from where we are to where we're going," he said. Prince, under increasing pressure from investors, on Monday named a new chief operating officer at the bank and promised an increased focus on costs. During Thursday's presentation, Prince discussed ways Citigroup aims to increase revenue, including expanding its financial advisory business and increasing its private banking efforts. Increased revenue and lower investment spending should help Citigroup's revenue grow faster than expenses next year, and profits grow faster than revenue, Prince said. That "positive operating leverage" would reverse a trend this year of operating expense growth outpacing revenue growth. Citigroup's relatively weak earnings growth has weighed on its shares, which are up 8.7% so far this year, lagging an 11.6% gain in the KBW Bank index for the same period. Investors gave a moderate vote of confidence to Prince's latest prescriptions for the bank's ills, boosting Citigroup shares by 0.8% and making them one of the session's top gainers in the sector index. "That (cut in 2007 investment spending) is giving investors confidence thatthere may be operating leverage in 2007 after not seeing a lot of operating leverage in the last couple of years," said Sam Rahman, portfolio manager at Baring Asset Management Inc. in Boston, which owns Citigroup shares. "I think that's what investors are keying off on."Overseas GrowthOthers remained skeptical. "It's more of the same," said William Smith, chief executive of SAMAdvisors, LLC, which owns Citigroup stock. "In our opinion, it's disturbing that he (Prince) does not understand what's going on. He is losing the battle here as far as what shareholders want." Smith said Citigroup shares had been bolstered last week by talk that the bank could replace Chief Financial Officer Sallie Krawcheck or even Prince, or could spin off some units. Prince said revenue growth in the U.S. consumer bank was taking longer than he had expected, but he was cautiously optimistic about it improving. The company is taking steps like combining its brokerage and bank franchises, in an effort to offer more products to customers. Prince said the company was unlikely to make any large U.S. bank acquisitions in 2007, reiterating that there were better opportunities to buy businesses overseas. Citigroup on Wednesday agreed to acquire Central American commercial and retail bank Grupo Cuscatlan for $1.51 billion and last month led a team of investors that won control of China's Guangdong Development Bank with a bid of 24.3 billion yuan ($3.1 billion). Citigroup is budgeting for moderate deterioration in credit quality for 2007, Prince said. Prince, who met with analysts alongside chief-operating-officer-to-be Robert Druskin, Krawcheck and other executives, also said Citigroup could boost credit loss reserves in Japan due to legislative changes.
cnbc, Articles, Business News, Economy, US Economy, US: News, source:tagname:Reuters
https://sc.cnbcfm.com/ap…1804&w=720&h=405
<div class="group"><p><strong>Citigroup</strong>, the top U.S. bank by assets, expects its investment spending next year to be less than half the 2006 level, its chief executive said on Thursday, acknowledging that its consumer bank has yet to turn the corner. </p><p>Speaking at the bank's analyst day presentation, Charles "Chuck" Prince also said he shares investors' frustration with the bank's lackluster share performance, but encouraged shareholders to be patient. "I feel very good about the changes were making ... but there's no short-cut to get from where we are to where we're going," he said. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Prince, under increasing pressure from investors, on Monday named a new chief operating officer at the bank and promised an increased focus on costs. </p><p>During Thursday's presentation, Prince discussed ways Citigroup aims to increase revenue, including expanding its financial advisory business and increasing its private banking efforts. </p><p>Increased revenue and lower investment spending should help Citigroup's revenue grow faster than expenses next year, and profits grow faster than revenue, Prince said. That "positive operating leverage" would reverse a trend this year of operating expense growth outpacing revenue growth. </p><p>Citigroup's relatively weak earnings growth has weighed on its shares, which are up 8.7% so far this year, lagging an 11.6% gain in the KBW Bank index for the same period. </p><p>Investors gave a moderate vote of confidence to Prince's latest prescriptions for the bank's ills, boosting Citigroup shares by 0.8% and making them one of the session's top gainers in the sector index. "That (cut in 2007 investment spending) is giving investors confidence that<br>there may be operating leverage in 2007 after not seeing a lot of operating leverage in the last couple of years," said Sam Rahman, portfolio manager at Baring Asset Management Inc. in Boston, which owns Citigroup shares. "I think that's what investors are keying off on."</p><div style="height:100%" class="lazyload-placeholder"></div><p><strong>Overseas Growth</strong></p><p>Others remained skeptical. "It's more of the same," said William Smith, chief executive of SAM<br>Advisors, LLC, which owns Citigroup stock. "In our opinion, it's disturbing that he (Prince) does not understand what's going on. He is losing the battle here as far as what shareholders want." <br>Smith said Citigroup shares had been bolstered last week by talk that the bank could replace Chief Financial Officer Sallie Krawcheck or even Prince, or could spin off some units. </p><p>Prince said revenue growth in the U.S. consumer bank was taking longer than he had expected, but he was cautiously optimistic about it improving. The company is taking steps like combining its brokerage and bank franchises, in an effort to offer more products to customers. </p><p>Prince said the company was unlikely to make any large U.S. bank acquisitions in 2007, reiterating that there were better opportunities to buy businesses overseas. </p><p>Citigroup on Wednesday agreed to acquire Central American commercial and retail bank Grupo Cuscatlan for $1.51 billion and last month led a team of investors that won control of China's Guangdong Development Bank with a bid of 24.3 billion yuan ($3.1 billion). </p><p>Citigroup is budgeting for moderate deterioration in credit quality for 2007, Prince said. </p><p>Prince, who met with analysts alongside chief-operating-officer-to-be Robert Druskin, Krawcheck and other executives, also said Citigroup could boost credit loss reserves in Japan due to legislative changes. </p></div>
Citigroup, the top U.S. bank by assets, expects its investment spending next year to be less than half the 2006 level, its chief executive said on Thursday, acknowledging that its consumer bank has yet to turn the corner. Speaking at the bank's analyst day presentation, Charles "Chuck" Prince also said he shares investors' frustration with the bank's lackluster share performance, but encouraged shareholders to be patient. "I feel very good about the changes were making ... but there's no short-cut to get from where we are to where we're going," he said. Prince, under increasing pressure from investors, on Monday named a new chief operating officer at the bank and promised an increased focus on costs. During Thursday's presentation, Prince discussed ways Citigroup aims to increase revenue, including expanding its financial advisory business and increasing its private banking efforts. Increased revenue and lower investment spending should help Citigroup's revenue grow faster than expenses next year, and profits grow faster than revenue, Prince said. That "positive operating leverage" would reverse a trend this year of operating expense growth outpacing revenue growth. Citigroup's relatively weak earnings growth has weighed on its shares, which are up 8.7% so far this year, lagging an 11.6% gain in the KBW Bank index for the same period. Investors gave a moderate vote of confidence to Prince's latest prescriptions for the bank's ills, boosting Citigroup shares by 0.8% and making them one of the session's top gainers in the sector index. "That (cut in 2007 investment spending) is giving investors confidence thatthere may be operating leverage in 2007 after not seeing a lot of operating leverage in the last couple of years," said Sam Rahman, portfolio manager at Baring Asset Management Inc. in Boston, which owns Citigroup shares. "I think that's what investors are keying off on."Overseas GrowthOthers remained skeptical. "It's more of the same," said William Smith, chief executive of SAMAdvisors, LLC, which owns Citigroup stock. "In our opinion, it's disturbing that he (Prince) does not understand what's going on. He is losing the battle here as far as what shareholders want." Smith said Citigroup shares had been bolstered last week by talk that the bank could replace Chief Financial Officer Sallie Krawcheck or even Prince, or could spin off some units. Prince said revenue growth in the U.S. consumer bank was taking longer than he had expected, but he was cautiously optimistic about it improving. The company is taking steps like combining its brokerage and bank franchises, in an effort to offer more products to customers. Prince said the company was unlikely to make any large U.S. bank acquisitions in 2007, reiterating that there were better opportunities to buy businesses overseas. Citigroup on Wednesday agreed to acquire Central American commercial and retail bank Grupo Cuscatlan for $1.51 billion and last month led a team of investors that won control of China's Guangdong Development Bank with a bid of 24.3 billion yuan ($3.1 billion). Citigroup is budgeting for moderate deterioration in credit quality for 2007, Prince said. Prince, who met with analysts alongside chief-operating-officer-to-be Robert Druskin, Krawcheck and other executives, also said Citigroup could boost credit loss reserves in Japan due to legislative changes.
2021-10-30 14:11:29.823208
Euro zone to launch bailout fund with Spain in focus
https://www.cnbc.com/2012/10/08/euro-zone-to-launch-bailout-fund-with-spain-in-focus.html
2012-10-08T09:04:00+0000
null
CNBC
By Jan Strupczewski BRUSSELS, Oct 8 (Reuters) - Euro zone finance ministers willlaunch their 500 billion euro ($653.00 billion) permanentbailout fund on Monday, putting in place a major defence againstthe debt crisis that now threatens Spain. The fund, called the European Stability Mechanism (ESM),will be used to lend to distressed euro zone sovereigns inreturn for strict fiscal and structural reforms that aim to puteconomies that have lost investor trust back on track. It is part of the single currency area's drive for anoverhaul of its economic structures and deeper integration, adiscussion that will be taken forward on Monday with talks on anidea to create a single euro-zone budget. Euro zone finance ministers, who form the ESM's board ofgovernors, will hold their inaugural meeting in Luxembourg twoyears after EU leaders endorsed the idea of setting up such apermanent institution. "The ESM will be operational as of Monday," said a euro zoneofficial, linked to the ESM. The fund's lending capacity will be based on 80 billioneuros of paid-in capital and 620 billion of callable capital,against which the ESM will borrow money on the market to lend iton to governments cut off from sustainable market funding. It will reach its full capacity gradually by 2014. Its first task will be to lend to Spain for therecapitalisation of its banking sector, hit hard by a collapseof the real estate market - a programme inherited from thetemporary European Financial Stability Facility (EFSF). Madrid is likely to ask for about 40 billion euros torecapitalise its banks following independent assessments of thesectors' needs -- well within the 100 billion euros set aside byeuro zone finance ministers for the purpose in July. The ESM money would flow to Spain in November, afterEuropean Commission competition authorities approve conditionsfor the recapitalisation for each bank. SPAIN IN FOCUS Spain is in investors' focus because it has struggled to cutone of the euro zone's largest public deficits as the countrysinks deeper into its second recession in three years. In Luxembourg, euro zone ministers will also discuss arequest, expected from Spain sometime in the coming weeks, for aprecautionary credit line from the ESM that they hope will boostinvestor confidence and keep Madrid in the capital markets. A euro zone source said they may also discuss Spain's tough2013 budget, outlined last month, which the InternationalMonetary Fund and the European Commission both believe is basedon an over-optimistic forecast of a 0.5 percent economiccontraction next year. The current IMF forecast of a 1.2 percentrecession may be revised further downwards on Tuesday. A revised budget based on updated IMF and EU forecasts maybe one condition for assistance from the ESM. Such a programme would likely entail the issuance offirst-loss guarantees on bonds sold by Spain at auction, or somesimilar form of rescue to bolster Madrid's credibility. Guaranteeing the first 20-30 percent loss on new Spanishbonds would allow - through leveraging - all of Spain's 207billion debt issuance in 2013 to be made much more attractive toinvestors using roughly 50 billion euros of euro zone money. Such an amount would fit comfortably within the 100 billionlimit already approved by parliaments for the bank rescue incountries with strong anti-bailout sentiment like Germany andFinland, making it politically more palatable, even iftechnically it would remain a separate operation. A credit line for Spain would also open the way forpurchases of Spanish bonds on the secondary market by theEuropean Central Bank -- a prospect that has lowered Spanishyields already from above 7 percent in July to below 5.72 now. But Germany opposes a Spanish bailout request now, becauseit would prefer to bundle Spain with a request for a small, 15billion euro bailout for Cyprus and a revision of the second,130 billion euro bailout for Greece in one crisis-solvingpackage later this year. This would allow German Chancellor Angela Merkel, wary ofshaky support for bailouts in her own ruling coalition, to pushthe large crisis package through parliament in one go, ratherthan fight separate battles for each. As a result, a Spanish request is unlikely for a few weeks. The ministers will also take stock of the efforts of Greeceto unblock payments from the second bailout agreed in Februaryafter reforms in the debt-laden country stalled because of twogeneral elections in May and June. Inspectors representing international lenders are in talkswith the Greek government on reforms and austerity needed tounlock financial aid, but their full report is unlikely beforethe end of October. EU Economic and Monetary Affairs Commissioner Olli Rehn saidon Saturday he expected Greece's government to agree on neededsavings in the coming days since the lengthy talks between thetroubled euro country and lenders had advanced.($1 = 0.7657 euros)(Additional reporting by Julien Toyer in Madrid; Editing byPaul Taylor)(([email protected])(+32 2 287 68 37)(ReutersMessaging: [email protected]))Keywords: EUROGROUP/
cnbc, Articles, Europe, Angela Merkel, Western Europe, Greece, Belgium, Spain, Germany, Wires, source:tagname:Thomson Financial News
https://sc.cnbcfm.com/ap…1804&w=720&h=405
<div class="group"><p>By Jan Strupczewski</p><p> BRUSSELS, Oct 8 (Reuters) - Euro zone finance ministers willlaunch their 500 billion euro ($653.00 billion) permanentbailout fund on Monday, putting in place a major defence againstthe debt crisis that now threatens Spain.</p><div style="height:100%" class="lazyload-placeholder"></div><p> The fund, called the European Stability Mechanism (ESM),will be used to lend to distressed euro zone sovereigns inreturn for strict fiscal and structural reforms that aim to puteconomies that have lost investor trust back on track.</p><p> It is part of the single currency area's drive for anoverhaul of its economic structures and deeper integration, adiscussion that will be taken forward on Monday with talks on anidea to create a single euro-zone budget.</p><p> Euro zone finance ministers, who form the ESM's board ofgovernors, will hold their inaugural meeting in Luxembourg twoyears after EU leaders endorsed the idea of setting up such apermanent institution.</p><p> "The ESM will be operational as of Monday," said a euro zoneofficial, linked to the ESM.</p><p> The fund's lending capacity will be based on 80 billioneuros of paid-in capital and 620 billion of callable capital,against which the ESM will borrow money on the market to lend iton to governments cut off from sustainable market funding.</p><div style="height:100%" class="lazyload-placeholder"></div><p> It will reach its full capacity gradually by 2014.</p><p> Its first task will be to lend to Spain for therecapitalisation of its banking sector, hit hard by a collapseof the real estate market - a programme inherited from thetemporary European Financial Stability Facility (EFSF).</p><p> Madrid is likely to ask for about 40 billion euros torecapitalise its banks following independent assessments of thesectors' needs -- well within the 100 billion euros set aside byeuro zone finance ministers for the purpose in July.</p><p> The ESM money would flow to Spain in November, afterEuropean Commission competition authorities approve conditionsfor the recapitalisation for each bank.</p><p> SPAIN IN FOCUS</p><p> Spain is in investors' focus because it has struggled to cutone of the euro zone's largest public deficits as the countrysinks deeper into its second recession in three years.</p><p> In Luxembourg, euro zone ministers will also discuss arequest, expected from Spain sometime in the coming weeks, for aprecautionary credit line from the ESM that they hope will boostinvestor confidence and keep Madrid in the capital markets.</p><p> A euro zone source said they may also discuss Spain's tough2013 budget, outlined last month, which the InternationalMonetary Fund and the European Commission both believe is basedon an over-optimistic forecast of a 0.5 percent economiccontraction next year. The current IMF forecast of a 1.2 percentrecession may be revised further downwards on Tuesday.</p><p> A revised budget based on updated IMF and EU forecasts maybe one condition for assistance from the ESM.</p><p> Such a programme would likely entail the issuance offirst-loss guarantees on bonds sold by Spain at auction, or somesimilar form of rescue to bolster Madrid's credibility.</p><p> Guaranteeing the first 20-30 percent loss on new Spanishbonds would allow - through leveraging - all of Spain's 207billion debt issuance in 2013 to be made much more attractive toinvestors using roughly 50 billion euros of euro zone money.</p><p> Such an amount would fit comfortably within the 100 billionlimit already approved by parliaments for the bank rescue incountries with strong anti-bailout sentiment like Germany andFinland, making it politically more palatable, even iftechnically it would remain a separate operation.</p><p> A credit line for Spain would also open the way forpurchases of Spanish bonds on the secondary market by theEuropean Central Bank -- a prospect that has lowered Spanishyields already from above 7 percent in July to below 5.72 now.</p><p> But Germany opposes a Spanish bailout request now, becauseit would prefer to bundle Spain with a request for a small, 15billion euro bailout for Cyprus and a revision of the second,130 billion euro bailout for Greece in one crisis-solvingpackage later this year.</p><p> This would allow German Chancellor Angela Merkel, wary ofshaky support for bailouts in her own ruling coalition, to pushthe large crisis package through parliament in one go, ratherthan fight separate battles for each.</p><p> As a result, a Spanish request is unlikely for a few weeks.</p><p> The ministers will also take stock of the efforts of Greeceto unblock payments from the second bailout agreed in Februaryafter reforms in the debt-laden country stalled because of twogeneral elections in May and June.</p><p> Inspectors representing international lenders are in talkswith the Greek government on reforms and austerity needed tounlock financial aid, but their full report is unlikely beforethe end of October.</p><p> EU Economic and Monetary Affairs Commissioner Olli Rehn saidon Saturday he expected Greece's government to agree on neededsavings in the coming days since the lengthy talks between thetroubled euro country and lenders had advanced.</p><p>($1 = 0.7657 euros)</p><p>(Additional reporting by Julien Toyer in Madrid; Editing byPaul Taylor)</p><p>((<a href="mailto:[email protected]" target="_blank">[email protected]</a>)(+32 2 287 68 37)(ReutersMessaging: <a href="mailto:[email protected]" target="_blank">[email protected]</a>))</p><p>Keywords: EUROGROUP/</p></div>
By Jan Strupczewski BRUSSELS, Oct 8 (Reuters) - Euro zone finance ministers willlaunch their 500 billion euro ($653.00 billion) permanentbailout fund on Monday, putting in place a major defence againstthe debt crisis that now threatens Spain. The fund, called the European Stability Mechanism (ESM),will be used to lend to distressed euro zone sovereigns inreturn for strict fiscal and structural reforms that aim to puteconomies that have lost investor trust back on track. It is part of the single currency area's drive for anoverhaul of its economic structures and deeper integration, adiscussion that will be taken forward on Monday with talks on anidea to create a single euro-zone budget. Euro zone finance ministers, who form the ESM's board ofgovernors, will hold their inaugural meeting in Luxembourg twoyears after EU leaders endorsed the idea of setting up such apermanent institution. "The ESM will be operational as of Monday," said a euro zoneofficial, linked to the ESM. The fund's lending capacity will be based on 80 billioneuros of paid-in capital and 620 billion of callable capital,against which the ESM will borrow money on the market to lend iton to governments cut off from sustainable market funding. It will reach its full capacity gradually by 2014. Its first task will be to lend to Spain for therecapitalisation of its banking sector, hit hard by a collapseof the real estate market - a programme inherited from thetemporary European Financial Stability Facility (EFSF). Madrid is likely to ask for about 40 billion euros torecapitalise its banks following independent assessments of thesectors' needs -- well within the 100 billion euros set aside byeuro zone finance ministers for the purpose in July. The ESM money would flow to Spain in November, afterEuropean Commission competition authorities approve conditionsfor the recapitalisation for each bank. SPAIN IN FOCUS Spain is in investors' focus because it has struggled to cutone of the euro zone's largest public deficits as the countrysinks deeper into its second recession in three years. In Luxembourg, euro zone ministers will also discuss arequest, expected from Spain sometime in the coming weeks, for aprecautionary credit line from the ESM that they hope will boostinvestor confidence and keep Madrid in the capital markets. A euro zone source said they may also discuss Spain's tough2013 budget, outlined last month, which the InternationalMonetary Fund and the European Commission both believe is basedon an over-optimistic forecast of a 0.5 percent economiccontraction next year. The current IMF forecast of a 1.2 percentrecession may be revised further downwards on Tuesday. A revised budget based on updated IMF and EU forecasts maybe one condition for assistance from the ESM. Such a programme would likely entail the issuance offirst-loss guarantees on bonds sold by Spain at auction, or somesimilar form of rescue to bolster Madrid's credibility. Guaranteeing the first 20-30 percent loss on new Spanishbonds would allow - through leveraging - all of Spain's 207billion debt issuance in 2013 to be made much more attractive toinvestors using roughly 50 billion euros of euro zone money. Such an amount would fit comfortably within the 100 billionlimit already approved by parliaments for the bank rescue incountries with strong anti-bailout sentiment like Germany andFinland, making it politically more palatable, even iftechnically it would remain a separate operation. A credit line for Spain would also open the way forpurchases of Spanish bonds on the secondary market by theEuropean Central Bank -- a prospect that has lowered Spanishyields already from above 7 percent in July to below 5.72 now. But Germany opposes a Spanish bailout request now, becauseit would prefer to bundle Spain with a request for a small, 15billion euro bailout for Cyprus and a revision of the second,130 billion euro bailout for Greece in one crisis-solvingpackage later this year. This would allow German Chancellor Angela Merkel, wary ofshaky support for bailouts in her own ruling coalition, to pushthe large crisis package through parliament in one go, ratherthan fight separate battles for each. As a result, a Spanish request is unlikely for a few weeks. The ministers will also take stock of the efforts of Greeceto unblock payments from the second bailout agreed in Februaryafter reforms in the debt-laden country stalled because of twogeneral elections in May and June. Inspectors representing international lenders are in talkswith the Greek government on reforms and austerity needed tounlock financial aid, but their full report is unlikely beforethe end of October. EU Economic and Monetary Affairs Commissioner Olli Rehn saidon Saturday he expected Greece's government to agree on neededsavings in the coming days since the lengthy talks between thetroubled euro country and lenders had advanced.($1 = 0.7657 euros)(Additional reporting by Julien Toyer in Madrid; Editing byPaul Taylor)(([email protected])(+32 2 287 68 37)(ReutersMessaging: [email protected]))Keywords: EUROGROUP/
2021-10-30 14:11:29.862418
Absolut Breakthrough: CBS Allows Spirits Ad During Grammys
https://www.cnbc.com/2009/02/09/absolut-breakthrough-cbs-allows-spirits-ad-during-grammys.html
2009-02-09T22:23:28+0000
Christina Cheddar Berk
CNBC
Those tuning into the Grammys may have caught a glimpse of a television milestone, and it didn’t happen on stage at the music awards show.Absolut vodka debuted a new ad, marking the first time a spirits brand aired a commercial during the Grammys. More importantly, it was also a first for spirits advertising in prime time in several CBS markets. The ad, which ran in 15 of the largest media markets on many CBS-owned-and-operated stations, is a breakthrough for the spirits industry, which has been rebuffed in its attempts to buy airtime on the major networks in the past. No doubt, the proliferation of advertisements on cable stations and local network affiliates has laid the groundwork for this event. “We’re not surprised, it’s been a steady progression,” said Frank Coleman, a spokesman for the Distilled Spirits Council of the United States, an industry trade group. Coleman said the television advertising of spirits brands has built steadily over the past decade, although it has leveled off more recently as companies have spent more of their ad budget online. Absolut, a Swedish vodka brand that was purchased by Pernod Ricard last year, has long been known for its memorable advertising. “I think we continue to take an innovative approach to media and advertising,” said Ian Crystal, brand director of Absolut Vodka at Pernod Ricard USA. According to Crystal, there wasn’t any resistance at CBS and its affiliates. He attributes this to the “iconic” nature of the Absolut brand. For the first 25 years, the brand’s image was built around print advertising that centered on the distinctive shape of its bottle. But the campaign shifted in May 2007, with the launch of the “In An Absolut World” campaign. Now about 30 percent to 40 percent of the brand’s ad budget is spent on television and film advertising. According to Crystal, the campaign’s concept is about ideas, which translate well on film, and therefore lends itself to television advertising. The latest incarnation of the campaign is the “Hugs” spot, which depicts scenes from an idealized world. As the music of Louis Armstrong plays, people from around the world exchange hugs and other signs of affection rather than currency. The 30-second spot, created by ad agency TBWAChiatDay, will continue to air on broadcast and cable in seven key markets over the next week. Events like the Grammys are often used by advertisers as a way of reaching a mass audience joined by a common interest. Music is a leading interest among adults 21 years to 24 years old, who are Absolut’s key demographic. Last year, the Grammy Awards reached an estimated 17 million viewers. Ratings for Sunday’s show were not immediately available. More from Consumer Nation:Questions? Comments? Email us at [email protected]
cnbc, Articles, Business News, Retail, Consumer Goods, Consumer Nation, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1354732729
<div class="group"><p>Those tuning into the Grammys may have caught a glimpse of a television milestone, and it didn’t happen on stage at the music awards show.</p><p>Absolut vodka debuted a new ad, marking the first time a spirits brand aired a commercial during the Grammys. More importantly, it was also a first for spirits advertising in prime time in several CBS markets. </p><div style="height:100%" class="lazyload-placeholder"></div><p>The ad, which ran in 15 of the largest media markets on many CBS-owned-and-operated stations, is a breakthrough for the spirits industry, which has been rebuffed in its attempts to buy airtime on the major networks in the past. </p><p>No doubt, the proliferation of advertisements on cable stations and local network affiliates has laid the groundwork for this event. </p><p>“We’re not surprised, it’s been a steady progression,” said Frank Coleman, a spokesman for the Distilled Spirits Council of the United States, an industry trade group. </p><p>Coleman said the television advertising of spirits brands has built steadily over the past decade, although it has leveled off more recently as companies have spent more of their ad budget online. </p><p>Absolut, a Swedish vodka brand that was purchased by <strong>Pernod Ricard </strong>last year, has long been known for its memorable advertising. </p><div style="height:100%" class="lazyload-placeholder"></div><p>“I think we continue to take an innovative approach to media and advertising,” said Ian Crystal, brand director of Absolut Vodka at Pernod Ricard USA. </p><ul><li><strong><em>Slideshow: Best Premium Liquor Brands</em></strong></li></ul><p>According to Crystal, there wasn’t any resistance at CBS and its affiliates. He attributes this to the “iconic” nature of the Absolut brand. </p><p>For the first 25 years, the brand’s image was built around print advertising that centered on the distinctive shape of its bottle. But the campaign shifted in May 2007, with the launch of the “In An Absolut World” campaign. Now about 30 percent to 40 percent of the brand’s ad budget is spent on television and film advertising. </p><p>According to Crystal, the campaign’s concept is about ideas, which translate well on film, and therefore lends itself to television advertising. </p><p>The latest incarnation of the campaign is the “Hugs” spot, which depicts scenes from an idealized world. As the music of Louis Armstrong plays, people from around the world exchange hugs and other signs of affection rather than currency. </p><p>The 30-second spot, created by ad agency TBWAChiatDay, will continue to air on broadcast and cable in seven key markets over the next week. </p><p>Events like the Grammys are often used by advertisers as a way of reaching a mass audience joined by a common interest. </p><p>Music is a leading interest among adults 21 years to 24 years old, who are Absolut’s key demographic. </p><p>Last year, the Grammy Awards reached an estimated 17 million viewers. Ratings for Sunday’s show were not immediately available. </p><p><strong>More from Consumer Nation:</strong></p><ul><em><strong><li><a href="https://www.cnbc.com/2009/02/05/highend-gemstones-are-diamonds-in-the-rough.html">High-End Gemstones Are Diamonds in the Rough</a></li><li><a href="https://www.cnbc.com/2009/02/04/advertisers-may-need-to-embrace-consumer-fear.html">Advertisers May Need to Embrace Consumer Fear</a></li><li><em><a href="https://www.cnbc.com/2009/02/03/the-coming-retail-real-estate-nightmare.html">The Coming Retail Real Estate Nightmare</a></em></li></strong></em><em><strong><li><a href="https://www.cnbc.com/2009/02/03/retailers-try-to-find-the-light-when-neighbors-go-dark.html">Retailers Try to Find the Light When Neighbors Go Dark</a></li><li><em><a href="https://www.cnbc.com/2009/02/03/consumers-are-living-off-their-fat.html">Consumers Are 'Living Off Their Fat'</a></em></li></strong></em></ul><p><em><strong>Questions? Comments? Email us at </strong></em><a href="mailto:[email protected]" class="webresource" target="_blank">[email protected]</a></p></div>
Those tuning into the Grammys may have caught a glimpse of a television milestone, and it didn’t happen on stage at the music awards show.Absolut vodka debuted a new ad, marking the first time a spirits brand aired a commercial during the Grammys. More importantly, it was also a first for spirits advertising in prime time in several CBS markets. The ad, which ran in 15 of the largest media markets on many CBS-owned-and-operated stations, is a breakthrough for the spirits industry, which has been rebuffed in its attempts to buy airtime on the major networks in the past. No doubt, the proliferation of advertisements on cable stations and local network affiliates has laid the groundwork for this event. “We’re not surprised, it’s been a steady progression,” said Frank Coleman, a spokesman for the Distilled Spirits Council of the United States, an industry trade group. Coleman said the television advertising of spirits brands has built steadily over the past decade, although it has leveled off more recently as companies have spent more of their ad budget online. Absolut, a Swedish vodka brand that was purchased by Pernod Ricard last year, has long been known for its memorable advertising. “I think we continue to take an innovative approach to media and advertising,” said Ian Crystal, brand director of Absolut Vodka at Pernod Ricard USA. Slideshow: Best Premium Liquor BrandsAccording to Crystal, there wasn’t any resistance at CBS and its affiliates. He attributes this to the “iconic” nature of the Absolut brand. For the first 25 years, the brand’s image was built around print advertising that centered on the distinctive shape of its bottle. But the campaign shifted in May 2007, with the launch of the “In An Absolut World” campaign. Now about 30 percent to 40 percent of the brand’s ad budget is spent on television and film advertising. According to Crystal, the campaign’s concept is about ideas, which translate well on film, and therefore lends itself to television advertising. The latest incarnation of the campaign is the “Hugs” spot, which depicts scenes from an idealized world. As the music of Louis Armstrong plays, people from around the world exchange hugs and other signs of affection rather than currency. The 30-second spot, created by ad agency TBWAChiatDay, will continue to air on broadcast and cable in seven key markets over the next week. Events like the Grammys are often used by advertisers as a way of reaching a mass audience joined by a common interest. Music is a leading interest among adults 21 years to 24 years old, who are Absolut’s key demographic. Last year, the Grammy Awards reached an estimated 17 million viewers. Ratings for Sunday’s show were not immediately available. More from Consumer Nation:High-End Gemstones Are Diamonds in the RoughAdvertisers May Need to Embrace Consumer FearThe Coming Retail Real Estate NightmareRetailers Try to Find the Light When Neighbors Go DarkConsumers Are 'Living Off Their Fat'Questions? Comments? Email us at [email protected]
2021-10-30 14:11:29.903837
The Hail Mary to Sen. Mary Landrieu on Keystone vote
https://www.cnbc.com/2014/11/13/the-hail-mary-to-sen-mary-landrieu-on-keystone-vote.html
2014-11-13T18:25:56+0000
Matt Cuddy
CNBC
After six years of discussion, the Keystone pipeline is finally going to get an up or down vote on the U.S. Senate floor, confirming the adage, elections have consequences. What led to this change? Politics. On Wednesday, Sen. Mary Landrieu, the embattled Democrat, facing a Dec. 6 runoff, called on the Senate to put the Keystone pipeline issue up for a vote. She was pushing for this to be the first order of business in the lame-duck session of Congress. In quick turn, the Democratic leadership blessed the gambit, in what political reporters on Capitol Hill are calling the "Hail Mary" to save Landrieu's Senate seat. The idea is to get her name on the bill that approves the pipeline, which is very popular in her home state of Louisiana, where she is behind in in the polls. Late Wednesday the Republican leadership announced they had a deal with Democrats for a vote as early as Tuesday. How did the decisions to vote next week happen? Politics. When House leadership got wind of the Hail Mary, they quickly crafted a Keystone pipeline bill to hit the House floor this week. The author of the bill is listed as Rep. Bill Cassidy, the Republican congressman from Louisiana and the candidate facing Landrieu in the Dec. 6 runoff election for the Senate seat. Read MoreEconomics no longer makes Keystone pipeline viable The political calculus goes something like this: Passing the Cassidy bill on the House floor this week will give him top billing in the news cycles through the weekend and the final bill will likely bear both of their names. In addition to the timing issues, the bill will need 60 votes to overcome procedural hurdles. Until now the best Keystone had done was 54 votes. This means passage will require six Democrats to flip their votes, something the Republican supporters of Cassidy look forward to pointing out to anyone who will listen.
cnbc, Articles, Elections, Congress, Energy, Politics, TC Energy Corp, Keystone Pipeline, source:tagname:CNBC US Source
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<div class="group"><p> After six years of discussion, the Keystone pipeline is finally going to get an up or down vote on the U.S. Senate floor, confirming the adage, elections have consequences. What led to this change? Politics. </p><p> <span>On Wednesday, Sen. Mary Landrieu, the embattled Democrat, facing a Dec. 6 runoff, called on the Senate to put the Keystone pipeline issue up for a vote. She was pushing for this to be the first order of business in the lame-duck session of Congress.</span></p><div style="height:100%" class="lazyload-placeholder"></div><p> In quick turn, the Democratic leadership blessed the gambit, in what political reporters on Capitol Hill are calling the "Hail Mary" to save Landrieu's Senate seat. The idea is to get her name on the bill that approves the pipeline, which is very popular in her home state of Louisiana, where she is behind in in the polls. </p><p>Late Wednesday the Republican leadership announced they had a deal with Democrats for a vote as early as Tuesday. How did the decisions to vote next week happen? Politics. <br></p><p> When House leadership got wind of the Hail Mary, they quickly crafted a Keystone pipeline bill to hit the House floor this week. The author of the bill is listed as Rep. Bill Cassidy, the Republican congressman from Louisiana and the candidate facing Landrieu in the Dec. 6 runoff election for the Senate seat.<br></p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2014/11/13/economics-no-longer-makes-keystone-pipeline-viable.html">Economics no longer makes Keystone pipeline viable</a><br></p><p> The political calculus goes something like this: Passing the Cassidy bill on the House floor this week will give him top billing in the news cycles through the weekend and the final bill will likely bear both of their names. </p><div style="height:100%" class="lazyload-placeholder"></div><p>In addition to the timing issues, the bill will need 60 votes to overcome procedural hurdles. Until now the best Keystone had done was 54 votes. This means passage will require six Democrats to flip their votes, something the Republican supporters of Cassidy look forward to pointing out to anyone who will listen.</p></div>,<div class="group"><p><span>The remaining issue is if this will become law. While most believe the White House was going to approve the program eventually, one analyst questions whether the administration wants to let Congress upend the process that has been slowly moving through the regulatory gauntlet. </span></p><p><span>"The president could veto it because there's an established review process in place and he would stick to that established review process. It's been going on for six years," said Dan Clifton, head of policy research at Strategas.</span><br></p><p> The approval of the Keystone XL pipeline extension was held up by the Obama administration initially for environmental impact studies. The pipeline's approval came under the auspices of the State Department because <a href="//www.cnbc.com/quotes/TRP-CA" target="_blank">TransCanada</a>'s pipeline would cross over the border into the U.S. after passing through Alberta and Saskatchewan in Canada. It would <a href="http://keystone-xl.com/home/keystone-xl-kxl-oil-pipeline-maps/" target="_blank">then travel through Montana, South Dakota</a> and Nebraska and link up with another pipeline, carrying crude from Canada, North Dakota, Montana and Oklahoma to the Gulf Coast.<br></p><p> <span><span class="label-read-more">Read More</span></span><span><br></span></p><p> <span>Back in Louisiana, Landrieu is running about 5 percentage points behind Cassidy in the latest polling. Clearly, her campaign could use the Hail Mary.</span><br></p><p> <em>—CNBC Executive News Editor Patti Domm contributed to this report.</em></p></div>
After six years of discussion, the Keystone pipeline is finally going to get an up or down vote on the U.S. Senate floor, confirming the adage, elections have consequences. What led to this change? Politics. On Wednesday, Sen. Mary Landrieu, the embattled Democrat, facing a Dec. 6 runoff, called on the Senate to put the Keystone pipeline issue up for a vote. She was pushing for this to be the first order of business in the lame-duck session of Congress. In quick turn, the Democratic leadership blessed the gambit, in what political reporters on Capitol Hill are calling the "Hail Mary" to save Landrieu's Senate seat. The idea is to get her name on the bill that approves the pipeline, which is very popular in her home state of Louisiana, where she is behind in in the polls. Late Wednesday the Republican leadership announced they had a deal with Democrats for a vote as early as Tuesday. How did the decisions to vote next week happen? Politics. When House leadership got wind of the Hail Mary, they quickly crafted a Keystone pipeline bill to hit the House floor this week. The author of the bill is listed as Rep. Bill Cassidy, the Republican congressman from Louisiana and the candidate facing Landrieu in the Dec. 6 runoff election for the Senate seat. Read MoreEconomics no longer makes Keystone pipeline viable The political calculus goes something like this: Passing the Cassidy bill on the House floor this week will give him top billing in the news cycles through the weekend and the final bill will likely bear both of their names. In addition to the timing issues, the bill will need 60 votes to overcome procedural hurdles. Until now the best Keystone had done was 54 votes. This means passage will require six Democrats to flip their votes, something the Republican supporters of Cassidy look forward to pointing out to anyone who will listen.The remaining issue is if this will become law. While most believe the White House was going to approve the program eventually, one analyst questions whether the administration wants to let Congress upend the process that has been slowly moving through the regulatory gauntlet. "The president could veto it because there's an established review process in place and he would stick to that established review process. It's been going on for six years," said Dan Clifton, head of policy research at Strategas. The approval of the Keystone XL pipeline extension was held up by the Obama administration initially for environmental impact studies. The pipeline's approval came under the auspices of the State Department because TransCanada's pipeline would cross over the border into the U.S. after passing through Alberta and Saskatchewan in Canada. It would then travel through Montana, South Dakota and Nebraska and link up with another pipeline, carrying crude from Canada, North Dakota, Montana and Oklahoma to the Gulf Coast. Read More Back in Louisiana, Landrieu is running about 5 percentage points behind Cassidy in the latest polling. Clearly, her campaign could use the Hail Mary. —CNBC Executive News Editor Patti Domm contributed to this report.
2021-10-30 14:11:29.965815
Jan. 4: Unusual Volume Leaders
https://www.cnbc.com/2010/01/04/jan-4-unusual-volume-leaders.html
2010-01-04T20:19:07+0000
Giovanny Moreano
CNBC
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:  Wynn Resorts (WYNN), Thermo Fisher Scientific (TMO), and Scripps Networks Interactive (SNI). >>> S&P Stocks Trading at New 52-week Highs
cnbc, Articles, S&P 500 Index, Fidelity National Information Services Inc, Wynn Resorts Ltd, Thermo Fisher Scientific Inc, Mead Johnson Nutrition Co, Markets, U.S. Markets, By The Numbers, source:tagname:CNBC US Source
https://sc.cnbcfm.com/ap…1804&w=720&h=405
<div class="group"><p>What follows is a look at stocks in the S&amp;P 500 displaying unusual volume in today's trading session.  <br><br>Some of the highlights include:  Wynn Resorts (WYNN), Thermo Fisher Scientific (TMO), and Scripps Networks Interactive (SNI). <br><br><strong><em><strong><em><strong><em><strong><em><strong><em><strong><em><strong><em><strong><em><a href="https://www.cnbc.com/2010/01/04/sp-stocks-trading-at-new-52week-highs.html">&gt;&gt;&gt; S&amp;P Stocks Trading at New 52-week Highs</a></em></strong></em></strong></em></strong></em></strong></em></strong></em></strong></em></strong></em></strong><a href="https://www.cnbc.com/2009/12/18/tech-stocks-oil-dollar-strengthen-this-week.html"></a><br></p></div>,<div class="group"><p><em>Send comments to:</em><a href="mailto:[email protected]" class="webresource" target="_blank">[email protected]</a></p><div style="height:100%" class="lazyload-placeholder"></div><p><a href="https://www.cnbc.com/id/22781974">bythenumbers.cnbc.com</a></p></div>
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:  Wynn Resorts (WYNN), Thermo Fisher Scientific (TMO), and Scripps Networks Interactive (SNI). >>> S&P Stocks Trading at New 52-week HighsSend comments to:[email protected]
2021-10-30 14:11:30.045993
No More Retail 'Nirvana': Hedge Fund Manager
https://www.cnbc.com/2010/07/08/no-more-retail-nirvana-hedge-fund-manager.html
2010-07-08T18:10:10+0000
Gennine Kelly
CNBC
No more retail "nirvana," David Berman, founder of Durban Capital, which manages over 100 million in assets told CNBC today.Berman has focused solely on retail for some time. This past spring he changed his opinion and downgraded the retail sector for several reasons. First, "WalMart is back to being Walmart," the hedge fund manager said. The company represents 23 percent of all sales from publicly traded retail companies. With this enormous stronghold, "this is not good for the supermarket chains or for discounters now that WalMart is back to being more price competitive," he said. Take J.C. Penney and Kohl’s for example, they may get hurt because Walmart does have some apparel.Second, if you look at the math in the retail sector in general—home improvement, discounters, apparel retailers, supermarkets, and department stores—"this sector could turn negative come September," Berman said, adding, "people are worried about. "
cnbc, Articles, S&P 500 Retail Composite, Walmart Inc, Old Copper Company Inc, Williams-Sonoma Inc, Kohl's Corp, The Strategy Session, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1354732729
<div class="group"><p>No more retail "nirvana," <a href="https://fm.cnbc.com/applications/cnbc.com/resources/editorialfiles/2012/05/03/2226533_berman_david_bio.pdf" target="_blank">David Berman</a>, founder of Durban Capital, which manages over 100 million in assets told CNBC today.</p><p>Berman has focused solely on retail for some time. This past spring he changed his opinion and downgraded the retail sector for several reasons. </p><div style="height:100%" class="lazyload-placeholder"></div><p>First, "<strong>WalMart </strong>is back to being Walmart," the hedge fund manager said. The company represents 23 percent of all sales from publicly traded retail companies. </p><p>With this enormous stronghold, "this is not good for the supermarket chains or for discounters now that WalMart is back to being more price competitive," he said. Take <strong>J.C. Penney</strong> and <strong>Kohl’s</strong> for example, they may get hurt because Walmart does have some apparel.</p><p>Second, if you look at the math in the retail sector in general—home improvement, discounters, apparel retailers, supermarkets, and department stores—"this sector could turn negative come September," Berman said, adding, "people are worried about. "</p></div>,<div class="group"><p>Third, the rising labor costs are weighing on retailers. </p><p>Fourth, electronic sales are slow with high inventories, for example <strong>Best Buy</strong>.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Also struggling are drugstores—with <strong>Walgreen </strong>and <strong>CVS Caremark </strong>among them.</p><p>But not all is lost: <strong>William Somona </strong>is a good example of what is working. Their same store sales are up 17 percent but inventories are down 8.5 percent. Also, the shoe industry is seeing the highest in sales growth, he said. </p><p>"The key to retail is to look at inventories," in relation to sales, Berman concluded. </p></div>,<div class="group"><p>.</p><p>"<a href="#">The Strategy Session</a>," hosted by David Faber and Gary Kaminsky, airs weekdays at Noon ET on CNBC. </p></div>
No more retail "nirvana," David Berman, founder of Durban Capital, which manages over 100 million in assets told CNBC today.Berman has focused solely on retail for some time. This past spring he changed his opinion and downgraded the retail sector for several reasons. First, "WalMart is back to being Walmart," the hedge fund manager said. The company represents 23 percent of all sales from publicly traded retail companies. With this enormous stronghold, "this is not good for the supermarket chains or for discounters now that WalMart is back to being more price competitive," he said. Take J.C. Penney and Kohl’s for example, they may get hurt because Walmart does have some apparel.Second, if you look at the math in the retail sector in general—home improvement, discounters, apparel retailers, supermarkets, and department stores—"this sector could turn negative come September," Berman said, adding, "people are worried about. "Third, the rising labor costs are weighing on retailers. Fourth, electronic sales are slow with high inventories, for example Best Buy.Also struggling are drugstores—with Walgreen and CVS Caremark among them.But not all is lost: William Somona is a good example of what is working. Their same store sales are up 17 percent but inventories are down 8.5 percent. Also, the shoe industry is seeing the highest in sales growth, he said. "The key to retail is to look at inventories," in relation to sales, Berman concluded. ."The Strategy Session," hosted by David Faber and Gary Kaminsky, airs weekdays at Noon ET on CNBC.
2021-10-30 14:11:30.338112
OPEC comments show lost relevance ahead of meeting
https://www.cnbc.com/2015/11/23/opec-comments-show-lost-relevance-ahead-of-meeting.html
2015-11-23T20:57:10+0000
Patti Domm
CNBC
Comments from Saudi Arabian officials stirred speculation OPEC could be considering abandoning its market-based pricing strategy, but the cartel is unlikely to change policy and it heads into next week's meeting less relevant than ever. Oil surged Monday on remarks from Saudi officials that the country is willing to work with oil producing and exporting countries, both inside and outside of OPEC to maintain market and price stability. West Texas Intermediate crude futures shot higher after the comments but then fell back and fluctuated."It's really just short covering. The Saudi comments are a reminder to the market that the Saudis aren't powerless, but OPEC is overall for sure. At some point, the sell-off will be vulnerable to a production response. The fact of the matter is if they really do cut production by a million or 2 million barrels, the market would react to that. I don't think they're ready to do that yet," said oil analyst John Kilduff of Again Capital.
cnbc, Articles, Market Insider, Oil and Gas, Commodity markets, WTI Crude (Dec'21), OPEC, Saudi Arabia, Venezuela, Iran, Futures & Commodities, Investment Strategy, Markets, U.S. Markets, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1529466722
<div class="group"><p> Comments from Saudi Arabian officials stirred speculation OPEC could be considering abandoning its market-based pricing strategy, but the cartel is unlikely to change policy and it heads into next week's meeting less relevant than ever.</p><p> Oil surged Monday on remarks from Saudi officials that the country is willing to work with oil producing and exporting countries, both inside and outside of <a href="https://www.cnbc.com/id/10000937">OPEC</a> to maintain market and price stability. <a href="https://www.cnbc.com/quotes/@CL.1">West Texas Intermediate crude futures</a> shot higher after the comments but then fell back and fluctuated.</p><div style="height:100%" class="lazyload-placeholder"></div><p>"It's really just short covering. The Saudi comments are a reminder to the market that the Saudis aren't powerless, but OPEC is overall for sure. At some point, the sell-off will be vulnerable to a production response. The fact of the matter is if they really do cut production by a million or 2 million barrels, the market would react to that. I don't think they're ready to do that yet," said oil analyst John Kilduff of Again Capital.</p></div>,<div class="group"><p> The comments echo others made by Saudi officials. But they did come a day after Venezuela's oil minister said OPEC cannot allow a price war and must act to stabilize prices. He said oil could go as low as the "mid-$20s."</p><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/11/23/venezuela-echos-goldman-sachs-20-plus-oil-fears.html">Here's the comments that sent oil higher</a></p><p>The Organization of the Petroleum Exporting Countries just a year ago moved to a policy of allowing the market to set prices for the first time, instead of trying to stabilize them with a production response. <a href="https://www.cnbc.com/id/10000304">Saudi Arabia</a>, then the world's swing producer, said it would not cut production unless others producers joined in, particularly the high-cost producers. That would include U.S. shale drillers.<br></p><p> OPEC meets again on Dec. 4. "They're not going to do anything. They're going to sit pat," said Edward Morse, head of global commodities research at Citigroup.</p><div style="height:100%" class="lazyload-placeholder"></div><p> Morse said he expects OPEC members like <a href="https://www.cnbc.com/id/10000518">Venezuela</a> will be pleading with the Saudis to cut production. "I don't think Saudi Arabia or any of the Gulf Cooperation Council yet are in a position to say our strategy doesn't work," he said. "I've written that OPEC is dead frequently enough that I have to believe it," said Morse. "It's unlikely they're going to get a joint decision anytime soon involving a production cut that includes Iraq, <a href="https://www.cnbc.com/id/10000297">Iran</a> and Venezuela, let alone Libya."</p><p> Iran's oil minister, Bijan Zanganeh, said Monday he doubted OPEC has the will to act as a group to support oil prices. When asked about the Saudi comments, the minister said, "I don't believe there is strong intention from some parts of OPEC to stabilize the market." He said the cartel's mission is to stabilize the market for the benefit of all its members. "If (that) is subject to cooperation with non-OPEC producers then it means we are going to do nothing." <br></p><p> Iran is a particular challenge for OPEC since it has vowed to return to production as soon as it can under an international agreement to end its nuclear program. Some analysts expect tension between Iran and Saudi Arabia, which has benefited from Iran's loss of share in the global oil market.</p><p> "Iranians want to raise production. The Saudis don't want to accommodate them. The Saudis aren't going to do that. It's really a nonstarter," said Greg Priddy, director of global energy and natural resources at the Eurasia Group.</p><p> "I don't think there's a commonality of interest," said Priddy of OPEC's members. Priddy, however, said he expects the cartel to stay in existence despite the differences because the members could lose face if they disbanded. </p><p> OPEC's price strategy backfired in some ways because other producers, like Russia and U.S. shale, were willing to keep pumping and now oil is stuck at a low price for longer.</p><p> "I think the members that matter, the Saudis and their close partners, are simply maintaining output and letting the rebalancing play out. It hasn't played out as they intended but they're locked into it now," Priddy said.</p><p> He said the inventories could continue to build into late next year, and it could be into 2017 before there is a drawdown.</p><p> As for Monday's oil price move, analysts said OPEC was firing off rhetoric ahead of its meeting. WTI closed at $41.75, down 15 cents, but it had been more than $1 higher.</p><p> "They know there's a lot of short interest in the market right now. You can trigger a mini short squeeze that plays out over a couple of hours. I think they are trying to blunt the downward momentum," he said.</p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/11/16/gasoline-could-go-to-150-in-these-states.html">Gasoline could go to $1.50 in these states</a></p></div>,<div class="group"></div>
Comments from Saudi Arabian officials stirred speculation OPEC could be considering abandoning its market-based pricing strategy, but the cartel is unlikely to change policy and it heads into next week's meeting less relevant than ever. Oil surged Monday on remarks from Saudi officials that the country is willing to work with oil producing and exporting countries, both inside and outside of OPEC to maintain market and price stability. West Texas Intermediate crude futures shot higher after the comments but then fell back and fluctuated."It's really just short covering. The Saudi comments are a reminder to the market that the Saudis aren't powerless, but OPEC is overall for sure. At some point, the sell-off will be vulnerable to a production response. The fact of the matter is if they really do cut production by a million or 2 million barrels, the market would react to that. I don't think they're ready to do that yet," said oil analyst John Kilduff of Again Capital. The comments echo others made by Saudi officials. But they did come a day after Venezuela's oil minister said OPEC cannot allow a price war and must act to stabilize prices. He said oil could go as low as the "mid-$20s."Read MoreHere's the comments that sent oil higherThe Organization of the Petroleum Exporting Countries just a year ago moved to a policy of allowing the market to set prices for the first time, instead of trying to stabilize them with a production response. Saudi Arabia, then the world's swing producer, said it would not cut production unless others producers joined in, particularly the high-cost producers. That would include U.S. shale drillers. OPEC meets again on Dec. 4. "They're not going to do anything. They're going to sit pat," said Edward Morse, head of global commodities research at Citigroup. Morse said he expects OPEC members like Venezuela will be pleading with the Saudis to cut production. "I don't think Saudi Arabia or any of the Gulf Cooperation Council yet are in a position to say our strategy doesn't work," he said. "I've written that OPEC is dead frequently enough that I have to believe it," said Morse. "It's unlikely they're going to get a joint decision anytime soon involving a production cut that includes Iraq, Iran and Venezuela, let alone Libya." Iran's oil minister, Bijan Zanganeh, said Monday he doubted OPEC has the will to act as a group to support oil prices. When asked about the Saudi comments, the minister said, "I don't believe there is strong intention from some parts of OPEC to stabilize the market." He said the cartel's mission is to stabilize the market for the benefit of all its members. "If (that) is subject to cooperation with non-OPEC producers then it means we are going to do nothing." Iran is a particular challenge for OPEC since it has vowed to return to production as soon as it can under an international agreement to end its nuclear program. Some analysts expect tension between Iran and Saudi Arabia, which has benefited from Iran's loss of share in the global oil market. "Iranians want to raise production. The Saudis don't want to accommodate them. The Saudis aren't going to do that. It's really a nonstarter," said Greg Priddy, director of global energy and natural resources at the Eurasia Group. "I don't think there's a commonality of interest," said Priddy of OPEC's members. Priddy, however, said he expects the cartel to stay in existence despite the differences because the members could lose face if they disbanded. OPEC's price strategy backfired in some ways because other producers, like Russia and U.S. shale, were willing to keep pumping and now oil is stuck at a low price for longer. "I think the members that matter, the Saudis and their close partners, are simply maintaining output and letting the rebalancing play out. It hasn't played out as they intended but they're locked into it now," Priddy said. He said the inventories could continue to build into late next year, and it could be into 2017 before there is a drawdown. As for Monday's oil price move, analysts said OPEC was firing off rhetoric ahead of its meeting. WTI closed at $41.75, down 15 cents, but it had been more than $1 higher. "They know there's a lot of short interest in the market right now. You can trigger a mini short squeeze that plays out over a couple of hours. I think they are trying to blunt the downward momentum," he said. Read MoreGasoline could go to $1.50 in these states
2021-10-30 14:11:30.557706
We'll be Worse Off Whoever's President: Jim Rogers
https://www.cnbc.com/2008/08/29/well-be-worse-off-whoevers-president-jim-rogers.html
2008-08-29T15:25:24+0000
null
CNBC
Neither of the two contenders for president understands the economy and they are likely to cause more problems than they would solve, investor Jim Rogers, CEO of Jim Rogers holdings, told "Squawk Box Europe" on Friday. "Neither one of these guys understands what's going on, they don't understand currency markets, economies, they don't understand the world," Rogers said. "Both of them are going to cause us more problems than they're going to solve."Democratic nominee Sen. Barack Obama pledged to reverse the economic failures and blamed the Republicans for the poor shape of the U.S. economy in his speech on Thursday formally accepting to run for president for his partyBut Rogers said this was unlikely. "He's talking about spending a lot of money … I don't consider that very good, going deeper into debt. The United States is already the largest debtor nation in the history of the world. I'm not sure that that's going to solve anything," he said.(Click Here for a Video of Jim Rogers' interview)Republican presumptive candidate Sen. John McCain chose Alaska Gov. Sarah Palin as his running mate.'Bailing Out their Friends on Wall Street'Deep changes are needed in the U.S. system and big Wall Street banks should not be rescued by the authorities when they run into trouble, to avoid moral hazard, Rogers told CNBC Europe.
cnbc, Articles, Politics, source:tagname:CNBC US Source
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<div class="group"><p>Neither of the two contenders for president understands the economy and they are likely to cause more problems than they would solve, investor Jim Rogers, CEO of Jim Rogers holdings, told "Squawk Box Europe" on Friday. </p><p>"Neither one of these guys understands what's going on, they don't understand currency markets, economies, they don't understand the world," Rogers said. "Both of them are going to cause us more problems than they're going to solve."</p><div style="height:100%" class="lazyload-placeholder"></div><p>Democratic nominee Sen. Barack Obama pledged to reverse the economic failures and blamed the Republicans for the poor shape of the U.S. economy in his speech on Thursday formally accepting to run for president for his party</p><p>But Rogers said this was unlikely. </p><p>"He's talking about spending a lot of money … I don't consider that very good, going deeper into debt. The United States is already the largest debtor nation in the history of the world. I'm not sure that that's going to solve anything," he said.</p><p>(Click Here for a Video of Jim Rogers' interview)</p><p>Republican presumptive candidate Sen. John McCain <a href="https://www.cnbc.com/2008/08/29/mccain-shakes-up-race-by-picking-sarah-palin-for-vp.html">chose Alaska Gov. Sarah Palin as his running mate</a>.</p><div style="height:100%" class="lazyload-placeholder"></div><p><strong>'Bailing Out their Friends on Wall Street'</strong></p><p>Deep changes are needed in the U.S. system and big Wall Street banks should not be rescued by the authorities when they run into trouble, to avoid moral hazard, Rogers told CNBC Europe.</p></div>,<div class="group"><p>"They're bailing out Wall Street, because all their friends are on Wall Street," he said. "When Ben Bernanke gets a phone call from the head Lehman, he takes the call, but if some poor school teacher in Oklahoma calls him, he doesn't take the call." </p><p>"He's dealing with his friends on Wall Street trying to save them when in fact he should let them fail. That would be the better solution, at least for 300 million Americans," Rogers added.</p><p>The economic stimulus package launched this year to try and fend off recession in the U.S. is unlikely to have positive consequences in the long term, despite a higher-than-forecast advance of gross domestic product in the second quarter, Rogers said.</p><p>Supporting troubled investment banks instead of letting them go bust prevents a cleansing of the economy while putting additional burdens on taxpayers, but neither of the two candidates is likely to stop this, he added.</p><p>"If you happen to be friends with whoever wins, sure, you're going to have a better time in the next four years. But the rest of us, the 300 million Americans, are going to be worse off in four years. In fact the world will be worse off," Rogers said. </p></div>
Neither of the two contenders for president understands the economy and they are likely to cause more problems than they would solve, investor Jim Rogers, CEO of Jim Rogers holdings, told "Squawk Box Europe" on Friday. "Neither one of these guys understands what's going on, they don't understand currency markets, economies, they don't understand the world," Rogers said. "Both of them are going to cause us more problems than they're going to solve."Democratic nominee Sen. Barack Obama pledged to reverse the economic failures and blamed the Republicans for the poor shape of the U.S. economy in his speech on Thursday formally accepting to run for president for his partyBut Rogers said this was unlikely. "He's talking about spending a lot of money … I don't consider that very good, going deeper into debt. The United States is already the largest debtor nation in the history of the world. I'm not sure that that's going to solve anything," he said.(Click Here for a Video of Jim Rogers' interview)Republican presumptive candidate Sen. John McCain chose Alaska Gov. Sarah Palin as his running mate.'Bailing Out their Friends on Wall Street'Deep changes are needed in the U.S. system and big Wall Street banks should not be rescued by the authorities when they run into trouble, to avoid moral hazard, Rogers told CNBC Europe."They're bailing out Wall Street, because all their friends are on Wall Street," he said. "When Ben Bernanke gets a phone call from the head Lehman, he takes the call, but if some poor school teacher in Oklahoma calls him, he doesn't take the call." "He's dealing with his friends on Wall Street trying to save them when in fact he should let them fail. That would be the better solution, at least for 300 million Americans," Rogers added.The economic stimulus package launched this year to try and fend off recession in the U.S. is unlikely to have positive consequences in the long term, despite a higher-than-forecast advance of gross domestic product in the second quarter, Rogers said.Supporting troubled investment banks instead of letting them go bust prevents a cleansing of the economy while putting additional burdens on taxpayers, but neither of the two candidates is likely to stop this, he added."If you happen to be friends with whoever wins, sure, you're going to have a better time in the next four years. But the rest of us, the 300 million Americans, are going to be worse off in four years. In fact the world will be worse off," Rogers said.
2021-10-30 14:11:30.593508
39. Nexmo
https://www.cnbc.com/2014/06/16/disruptors-in-2014-nexmo.html
2014-06-17T06:09:51-0400
null
CNBC
Founders: Tony Jamous (CEO), Eric Nadalin Date launched: 2010 Funding: $22.8 million Industries disrupted: Mobile, Software, TelecomDisrupting: Facebook (WhatsApp), Microsoft (Skype), VerizonCompetition: Layer, RebTel, Twilio Nexmo—the name is short for "next + mobile"—is a cloud-based communication company that lets businesses reach customers through phone messages. With the rising demand for text-messaging applications, this 4-year-old company provides customers such as Airbnb, Expedia and Alibaba, to name a few, with the software tools that connect applications to wireless carriers and phones. This is a boon for Nexmo's customers, since it eliminates the time and cost of working with individual networks to send out high-volume automated messages to their users. Read More FULL LIST: 2014 CNBC DISRUPTOR 50 Nexmo makes money by taking a piece of the fee that's paid to carriers for network access. So far, the company is doing well with this strategy. Growth has been explosive. Founder and CEO Tony Jamous reported that Nexmo has 5 billion users in 200 countries across a network of 700 mobile operators. Its platform can handle more than 250 million messages a month. From 2012 to 2013, Nexmo grew its revenue by more than 350 percent. The company—backed by such investors as Sorenson Capital and Intel Capital—reported revenue of $40 million last year, up from $8 million in 2012.
Articles, Technology, CNBC Disruptors 2014, Mobile, Expedia Group Inc, Meta Platforms Inc, Microsoft Corp, Verizon Communications Inc, Special Reports, Software, Telecom, Enterprise, source:tagname:CNBC US Source
https://fm.cnbc.com/appl…ed-2.720x405.jpg
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2021-10-30 14:11:31.112864
Judge sends Benchmark’s lawsuit against Travis Kalanick to arbitration
https://www.cnbc.com/2017/08/30/benchmark-travis-kalanick-uber-investor-lawsuit-sent-to-arbitration.html
2017-08-30T20:20:38+0000
Theodore Schleifer
CNBC
A judge has granted former Uber CEO Travis Kalanick a legal win on Wednesday by sending an explosive lawsuit brought by his investors to arbitration rather than ordering it to play out in his courtroom.The decision is the latest dramatic turn in an rift between Uber and once of his closest allies, Benchmark Capital, and moves the ugly fight between them out of the spotlight as Uber's new CEO tries to assert control."Mr. Kalanick is pleased that the court has ruled in his favor today and remains confident that he will prevail in the arbitration process," a Kalanick spokesperson said. "Benchmark's false allegations are wholly without merit and have unnecessarily harmed Uber and its shareholders."More from Recode: Travis Kalanick's new lawyers say the Uber-Benchmark lawsuit belongs in arbitration A top venture capital lobbyist says more sexual harassment allegations will emerge from Silicon Valley Some startup founders are 'nervous' about dealing with Benchmark after it sued Uber The arguments were made in a courtroom in Georgetown, Del., before Judge Samuel Glasscock of Delaware's Court of Chancery.Benchmark sued Kalanick after ousting him as CEO of the world's most valuable privately held company, claiming that he defrauded them. The firm asked the court to remove him from Uber's board, among other actions. Kalanick, Uber's founder, says he is the victim of a malicious slander brought by disgruntled investors.Benchmark was seeking a status quo order that would effectively freeze Kalanick's involvement in Uber business. Kalanick's lawyers tried to move the case to arbitration, allowing him to avoid a possibly damaging deposition.The judge did not immediately rule on the status quo order.There is still risk with such a move. Arbitration rulings are typically binding and if Kalanick loses he won't be able to appeal.—By Theodore Schleifer, Re/code.net. CNBC's parent NBCUniversal is an investor in Recode's parent Vox, and the companies have a content-sharing arrangement.
cnbc, Articles, Travis Kalanick, Venture Capital, Start-ups, Lawsuits, Technology, US: News, Delaware, source:tagname:Recode
https://image.cnbcfm.com…jpg?v=1532564480
<div class="group"><p>A judge has granted former Uber CEO <a href="https://www.cnbc.com/travis-kalanick/">Travis Kalanick</a> a legal win on Wednesday by sending an explosive lawsuit brought by his investors to arbitration rather than ordering it to play out in his courtroom.</p><p>The decision is the latest dramatic turn in an rift between Uber and once of his closest allies, Benchmark Capital, and moves the ugly fight between them out of the spotlight as Uber's new CEO tries to assert control.</p><div style="height:100%" class="lazyload-placeholder"></div><p>"Mr. Kalanick is pleased that the court has ruled in his favor today and remains confident that he will prevail in the arbitration process," a Kalanick spokesperson said. "Benchmark's false allegations are wholly without merit and have unnecessarily harmed Uber and its shareholders."</p><p><strong>More from Recode: <br> <a href="https://www.recode.net/2017/8/14/16144386/travis-kalanick-uber-benchmark-lawsuit-arbitration" target="_blank"> Travis Kalanick's new lawyers say the Uber-Benchmark lawsuit belongs in arbitration</a> <br> <a href="https://www.recode.net/2017/8/12/16139184/bobby-franklin-national-venture-capital-association-silicon-valley-harassment" target="_blank"> A top venture capital lobbyist says more sexual harassment allegations will emerge from Silicon Valley</a> <br> <a href="https://www.recode.net/2017/8/11/16130148/benchmark-uber-startup-founder-backlash-lawsuit" target="_blank"> Some startup founders are 'nervous' about dealing with Benchmark after it sued Uber</a> <br></strong></p><p>The arguments were made in a courtroom in Georgetown, Del., before Judge Samuel Glasscock of Delaware's Court of Chancery.</p><p>Benchmark sued Kalanick after ousting him as CEO of the world's most valuable privately held company, claiming that he defrauded them. The firm asked the court to remove him from Uber's board, among other actions. Kalanick, Uber's founder, says he is the victim of a malicious slander brought by disgruntled investors.</p><p>Benchmark was seeking a status quo order that would effectively freeze Kalanick's involvement in Uber business. Kalanick's lawyers tried to move the case to arbitration, allowing him to avoid a possibly damaging deposition.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The judge did not immediately rule on the status quo order.</p><p>There is still risk with such a move. Arbitration rulings are typically binding and if Kalanick loses he won't be able to appeal.</p><p>—<em>By Theodore Schleifer</em><em>, </em><em><a href="http://recode.net/" class="webresource" target="_blank">Re/code.net</a></em><em>.</em> </p><p><em>CNBC's parent NBCUniversal is an investor in Recode's parent Vox, and the companies have a content-sharing arrangement.</em></p></div>,<div class="group"></div>,<div class="group"></div>
A judge has granted former Uber CEO Travis Kalanick a legal win on Wednesday by sending an explosive lawsuit brought by his investors to arbitration rather than ordering it to play out in his courtroom.The decision is the latest dramatic turn in an rift between Uber and once of his closest allies, Benchmark Capital, and moves the ugly fight between them out of the spotlight as Uber's new CEO tries to assert control."Mr. Kalanick is pleased that the court has ruled in his favor today and remains confident that he will prevail in the arbitration process," a Kalanick spokesperson said. "Benchmark's false allegations are wholly without merit and have unnecessarily harmed Uber and its shareholders."More from Recode: Travis Kalanick's new lawyers say the Uber-Benchmark lawsuit belongs in arbitration A top venture capital lobbyist says more sexual harassment allegations will emerge from Silicon Valley Some startup founders are 'nervous' about dealing with Benchmark after it sued Uber The arguments were made in a courtroom in Georgetown, Del., before Judge Samuel Glasscock of Delaware's Court of Chancery.Benchmark sued Kalanick after ousting him as CEO of the world's most valuable privately held company, claiming that he defrauded them. The firm asked the court to remove him from Uber's board, among other actions. Kalanick, Uber's founder, says he is the victim of a malicious slander brought by disgruntled investors.Benchmark was seeking a status quo order that would effectively freeze Kalanick's involvement in Uber business. Kalanick's lawyers tried to move the case to arbitration, allowing him to avoid a possibly damaging deposition.The judge did not immediately rule on the status quo order.There is still risk with such a move. Arbitration rulings are typically binding and if Kalanick loses he won't be able to appeal.—By Theodore Schleifer, Re/code.net. CNBC's parent NBCUniversal is an investor in Recode's parent Vox, and the companies have a content-sharing arrangement.
2021-10-30 14:11:31.151417
What’s the Risk for Investors of Turkey Going Islamist ?
https://www.cnbc.com/2012/08/30/whats-the-risk-for-investors-of-turkey-going-islamist.html
2012-08-30T18:05:09+0000
Deborah Caldwell
CNBC
Turkey is as complex as a Byzantine mosaic or a potent Turkish coffee. Straddling Europe, Asia and the Middle East, it’s a Muslim country with ancient Christian roots — but founded as a modern nation in 1923 by a militant secularist, Mustafa Kemal Ataturk. For decades an economic backwater, it’s now the fastest-growing economy in Europe.
cnbc, Articles, Special Reports, Investing In, Investing In: Turkey, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1349480489
<div class="group"><p>Turkey is as complex as a Byzantine mosaic or a potent Turkish coffee. Straddling Europe, Asia and the Middle East, it’s a Muslim country with ancient Christian roots — but founded as a modern nation in 1923 by a militant secularist, Mustafa Kemal Ataturk. For decades an economic backwater, it’s now the <a href="https://www.cnbc.com/2012/08/15/investing-in-europes-fastestgrowing-economy.html">fastest-growing economy in Europe</a>.</p></div>,<div class="group"><p>That economic success was achieved by an Islamist-leaning government that has managed successfully to meld the conservative religious devotion of the masses with the economic interests of the secular elite.</p><div style="height:100%" class="lazyload-placeholder"></div><p>But what if Turkey, propelled by its majority of populist conservative Muslims, were to adopt a more extreme version of Islam? Syria, its neighbor to the south, is disintegrating — abetted according to some reports by rebels connected to Al Qaeda. Some of those rebels may be drifting across the border into Turkey. And there are rumors that Prime Minister Recep Tayyip Erdogan has intestinal cancer; with no clear successor to his decade-old leadership, his ruling Justice and Development (AKP) party could splinter and give rise to a more extremist Islamic rule. </p><p><em>(Read More: </em><a href="https://www.cnbc.com/2012/08/22/Investing-in-Turkish-Treasures.html">Slideshow: Investing in Turkish Art</a><em>)</em></p><p>Yet experts say Turkey is so much improved economically from a decade ago that there is little chance its people would risk that prosperity — and relations with the West — to adopt an extremist Islamic state.</p><p>That is not to say, however, that Turkey isn’t dealing with a precarious religious situation. “The society is going more conservative,” said Ebru Erdem, political science professor at the University of California at Riverside. “It’s been going on since the 1990s, and that is still in progress.” </p><p>Erdem said Turks who don’t fast during the holy month of Ramadan, for instance, or who drink alcohol, face ostracism. And last spring the AKP ignited a debate about the morality of abortion and C-sections, two issues Erdem said had never before caused so much as a flicker on the Turkish radar screen. </p><div style="height:100%" class="lazyload-placeholder"></div><p>“They are not like the Islamist parties of before,” Erdem said. “They come from the same traditions, but they said they have taken off that shirt and they present themselves as a ‘liberal’ political party.” </p><p>Erdem and other Turkey experts liken the religious dynamic in Turkey to none other than the U.S., comparing the AKP to the most conservative Christians of the Republican Party. </p><p>“They are modeling on the Americans,” Erdem said. For instance, she said, the government has gradually begun regulating alcohol sales. “They say it’s not good for you, and they give the example of the U.S. Bible Belt, where you can’t buy alcohol on Sundays.” </p></div>,<div class="group"><p>Brian Mello, a Turkey expert who teaches political science at Muhlenberg College in Pennsylvania, said “political Islam is really popular, especially in Istanbul. You’ll see a lot of women wearing a headscarf, and if you look at the popular support for the ruling party, they’ve done nothing but increase their support.” </p></div>,<div class="group"><p>He said “the real fear” is that Turkey is home to “various Islamic movements that have sought to reclaim the capacity to engage in religion in the public square. ... That could be a slippery slope to an Iranian-style Islamic regime.” </p><p>The emphasis is on the word “could,” however. </p><p>According to Mello, “if you look at the U.S. now, and look at all the anti-abortion laws passed in state legislatures, and if you’re a secularist, then you might become afraid about the role of religion in American politics. If those fears are legitimate in the U.S., they’re legitimate in Turkey, too.” </p><p>But Mello added: “The way religion affects the Republican Party in the United States is stronger than the way it affects (the ruling AKP) in Turkey.” </p><p>Which is to say — interesting, worrying if you happen to be a secularist — but likely unimportant when it comes to the economy. </p><p><em>(Read more:</em><a href="https://www.cnbc.com/2012/08/15/investing-in-europes-fastestgrowing-economy.html">Investing in Europe’s Fastest-Growing Economy</a><em>)</em></p><p>Andrew Birch, senior economist for Europe for IHS, agrees. “When you look at the Justice and Development Party, there are a lot of concerns from the West, including the party’s lack of democracy. But from an economic point of view, they’ve been good stewards of the economy.” </p><p>The biggest recent concern about Turkey’s Muslim bent was that its banks would adopt Islamic-style banking. (<!-- -->.) But that hasn’t happened — in fact, most of the country’s biggest banks operate exactly like Western ones. </p><p>A more immediate concern is that Turkey’s economy has begun to slow, Birch said. Last year the economy grew at an 8.5 percent pace, but in the first half of 2012, its growth was below 3 percent. </p><p>“If there are economic hardships, that’s going to give a boost to Islam because the fundamentalist movement is being drawn from poorer, disenfranchised areas,” Birch said. “But I’m not worried about them cycling back. As long as Istanbul stays important — that’s where the secular business people reside and hold a strong grasp — I wouldn’t be worried that much about an influx of conservative ideology going into the business sector.” </p><p>Erdem says the ruling party would probably like to enforce a more conservative Islamic society — but can’t afford to. </p><p>“The current success is dependent on incoming foreign flows,” she said. “Especially with the financial crisis in Europe, a lot of hot money has come to Turkey because Turkey is stable. </p><p>“Even if they wanted to [enforce a change] for an ideological reason, they couldn’t risk it,” Erdem said. “They owe their electoral success to economic security.” </p></div>
Turkey is as complex as a Byzantine mosaic or a potent Turkish coffee. Straddling Europe, Asia and the Middle East, it’s a Muslim country with ancient Christian roots — but founded as a modern nation in 1923 by a militant secularist, Mustafa Kemal Ataturk. For decades an economic backwater, it’s now the fastest-growing economy in Europe.That economic success was achieved by an Islamist-leaning government that has managed successfully to meld the conservative religious devotion of the masses with the economic interests of the secular elite.But what if Turkey, propelled by its majority of populist conservative Muslims, were to adopt a more extreme version of Islam? Syria, its neighbor to the south, is disintegrating — abetted according to some reports by rebels connected to Al Qaeda. Some of those rebels may be drifting across the border into Turkey. And there are rumors that Prime Minister Recep Tayyip Erdogan has intestinal cancer; with no clear successor to his decade-old leadership, his ruling Justice and Development (AKP) party could splinter and give rise to a more extremist Islamic rule. (Read More: Slideshow: Investing in Turkish Art)Yet experts say Turkey is so much improved economically from a decade ago that there is little chance its people would risk that prosperity — and relations with the West — to adopt an extremist Islamic state.That is not to say, however, that Turkey isn’t dealing with a precarious religious situation. “The society is going more conservative,” said Ebru Erdem, political science professor at the University of California at Riverside. “It’s been going on since the 1990s, and that is still in progress.” Erdem said Turks who don’t fast during the holy month of Ramadan, for instance, or who drink alcohol, face ostracism. And last spring the AKP ignited a debate about the morality of abortion and C-sections, two issues Erdem said had never before caused so much as a flicker on the Turkish radar screen. “They are not like the Islamist parties of before,” Erdem said. “They come from the same traditions, but they said they have taken off that shirt and they present themselves as a ‘liberal’ political party.” Erdem and other Turkey experts liken the religious dynamic in Turkey to none other than the U.S., comparing the AKP to the most conservative Christians of the Republican Party. “They are modeling on the Americans,” Erdem said. For instance, she said, the government has gradually begun regulating alcohol sales. “They say it’s not good for you, and they give the example of the U.S. Bible Belt, where you can’t buy alcohol on Sundays.” Brian Mello, a Turkey expert who teaches political science at Muhlenberg College in Pennsylvania, said “political Islam is really popular, especially in Istanbul. You’ll see a lot of women wearing a headscarf, and if you look at the popular support for the ruling party, they’ve done nothing but increase their support.” He said “the real fear” is that Turkey is home to “various Islamic movements that have sought to reclaim the capacity to engage in religion in the public square. ... That could be a slippery slope to an Iranian-style Islamic regime.” The emphasis is on the word “could,” however. According to Mello, “if you look at the U.S. now, and look at all the anti-abortion laws passed in state legislatures, and if you’re a secularist, then you might become afraid about the role of religion in American politics. If those fears are legitimate in the U.S., they’re legitimate in Turkey, too.” But Mello added: “The way religion affects the Republican Party in the United States is stronger than the way it affects (the ruling AKP) in Turkey.” Which is to say — interesting, worrying if you happen to be a secularist — but likely unimportant when it comes to the economy. (Read more:Investing in Europe’s Fastest-Growing Economy)Andrew Birch, senior economist for Europe for IHS, agrees. “When you look at the Justice and Development Party, there are a lot of concerns from the West, including the party’s lack of democracy. But from an economic point of view, they’ve been good stewards of the economy.” The biggest recent concern about Turkey’s Muslim bent was that its banks would adopt Islamic-style banking. (.) But that hasn’t happened — in fact, most of the country’s biggest banks operate exactly like Western ones. A more immediate concern is that Turkey’s economy has begun to slow, Birch said. Last year the economy grew at an 8.5 percent pace, but in the first half of 2012, its growth was below 3 percent. “If there are economic hardships, that’s going to give a boost to Islam because the fundamentalist movement is being drawn from poorer, disenfranchised areas,” Birch said. “But I’m not worried about them cycling back. As long as Istanbul stays important — that’s where the secular business people reside and hold a strong grasp — I wouldn’t be worried that much about an influx of conservative ideology going into the business sector.” Erdem says the ruling party would probably like to enforce a more conservative Islamic society — but can’t afford to. “The current success is dependent on incoming foreign flows,” she said. “Especially with the financial crisis in Europe, a lot of hot money has come to Turkey because Turkey is stable. “Even if they wanted to [enforce a change] for an ideological reason, they couldn’t risk it,” Erdem said. “They owe their electoral success to economic security.”
2021-10-30 14:11:31.190167
EU, Iran to Impact Crude Oil Prices, Experts Say
https://www.cnbc.com/2011/11/18/eu-iran-to-impact-crude-oil-prices-experts-say.html
2011-11-18T17:50:14+0000
Bruno J. Navarro
CNBC
Crude oil prices in the short-term future will likely hinge on several factors, including the European debt crisis and the situation in Iran, traders said Friday on “Fast Money.” Crude soared to $103 a barrel earlier this week and dropped to $98 in midday trading. “We haven’t been talking about Iran when oil is concerned so that’s always the headline risk,” trader Steve Grasso said. “I would expect it to sell off a bit and then rally a bit over the next couple of weeks back toward that $100 mark.”
cnbc, Articles, CNBC TV, Fast Money Halftime Report, source:tagname:CNBC US Source
https://sc.cnbcfm.com/ap…1804&w=720&h=405
<div class="group"><p>Crude oil prices in the short-term future will likely hinge on several factors, including the European debt crisis and the situation in Iran, traders said Friday on “Fast Money.” </p><p>Crude soared to $103 a barrel earlier this week and dropped to $98 in midday trading. </p><div style="height:100%" class="lazyload-placeholder"></div><p>“We haven’t been talking about Iran when oil is concerned so that’s always the headline risk,” trader Steve Grasso said. “I would expect it to sell off a bit and then rally a bit over the next couple of weeks back toward that $100 mark.” </p></div>,<div class="group"><p>Such an intense focus on Europe, which experienced turbulence from disappointing bond results in Spain this week, has drawn attention away from the Persian Gulf. </p><p>“As soon as you start focusing more on Iran, I think you get that goosebump back up to par,” Grasso said. </p><p>The European outlook isn’t good and will have a lasting effect, said trader Stephen Weiss. </p><p><strong>(Related Story: </strong><a href="https://www.cnbc.com/2011/11/17/technicals-euro-debt-fears-driving-this-market.html">Technicals, Euro Debt Fears Driving This Market</a><strong>)</strong></p><div style="height:100%" class="lazyload-placeholder"></div><p>“Europe is going into recession. I think it’ll be in a deep recession,” he said. “That’s going to hit demand, and China’s just going to bump along. ... Oil has a better chance going into the 80s than it does breaking $100.”</p><p>Trader Zach Karabell added, "Oil stocks and oil services stocks are clearly in the camp of oil-is-going-to-come-down because they clearly have not reflected the rising price of oil, at least in the current equity action."</p><p>______________________________________________________<br>Got something to to say? Send us an e-mail at <a href="mailto:[email protected]" class="webresource" target="_blank">[email protected]</a> and your comment might be posted on the <em>Rapid Recap. </em>If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to <!-- -->.<br><br><em>Trader disclosure: On Nov. 18, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Weiss owns KO; Weiss owns HPQ; Weiss owns RIMM; Weiss owns EUO; Weiss owns WLP; Karabell owns AAPL; Karabell owns MS; Karabell owns IBM; Grasso owns AKS; Grasso owns AMR; Grasso owns ASTM; Grasso owns AVAV; Grasso owns BA; Grasso owns BAC; Grasso owns D; Grasso owns KEG; Grasso owns LIT; Grasso owns MHY; Grasso owns PFE; Grasso owns PRST; Grasso owns S; Grasso owns XLU </em></p><p>For Rebecca Patterson <br>No disclosures </p><p>For Mary Ann Bartels <br>No disclosures </p><p>For Zach Karabell <br>Rivertwice has short puts AMZN <br>Rivertwice is short XLF <br>Rivertwice is short SMH <br>Rivertwice owns IBM <br>Rivertwice is short EK </p><p>For Efraim Levy <br>I have no affiliation with any company I am speaking about in this interview. <br>I have no ownership interest in any company I am speaking about in this interview. <br>S&amp;P Capital IQ’s other affiliates may provide services to the companies that are the subject of my report. </p><p>For David Shove <br>As to each company covered on this website, the analyst hereby certifies that the views expressed accurately reflect the analyst’s personal views about the subject securities or issuers. Each analyst also certifies that no part of the analyst’s compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. </p><p>Analysts who prepared this report are compensated based upon (among other factors) the overall profitability of BMO Capital Markets and their affiliates, which includes the overall profitability of investment banking services. Compensation for research is based on effectiveness in generating new ideas and in communication of ideas to clients, performance of recommendations, accuracy of earnings estimates, and service to clients. </p><p>Analysts employed by BMO Nesbitt Burns Inc. and/or BMO Capital Markets Ltd. are not registered as research analysts with FINRA. These analysts may not be associated persons of BMO Capital Markets Corp. and therefore may not be subject to the NASD Rule 2711 and NYSE Rule 472 restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account. </p><p>CNBC.com with wires.</p></div>
Crude oil prices in the short-term future will likely hinge on several factors, including the European debt crisis and the situation in Iran, traders said Friday on “Fast Money.” Crude soared to $103 a barrel earlier this week and dropped to $98 in midday trading. “We haven’t been talking about Iran when oil is concerned so that’s always the headline risk,” trader Steve Grasso said. “I would expect it to sell off a bit and then rally a bit over the next couple of weeks back toward that $100 mark.” Such an intense focus on Europe, which experienced turbulence from disappointing bond results in Spain this week, has drawn attention away from the Persian Gulf. “As soon as you start focusing more on Iran, I think you get that goosebump back up to par,” Grasso said. The European outlook isn’t good and will have a lasting effect, said trader Stephen Weiss. (Related Story: Technicals, Euro Debt Fears Driving This Market)“Europe is going into recession. I think it’ll be in a deep recession,” he said. “That’s going to hit demand, and China’s just going to bump along. ... Oil has a better chance going into the 80s than it does breaking $100.”Trader Zach Karabell added, "Oil stocks and oil services stocks are clearly in the camp of oil-is-going-to-come-down because they clearly have not reflected the rising price of oil, at least in the current equity action."______________________________________________________Got something to to say? Send us an e-mail at [email protected] 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 those e-mails to .Trader disclosure: On Nov. 18, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Weiss owns KO; Weiss owns HPQ; Weiss owns RIMM; Weiss owns EUO; Weiss owns WLP; Karabell owns AAPL; Karabell owns MS; Karabell owns IBM; Grasso owns AKS; Grasso owns AMR; Grasso owns ASTM; Grasso owns AVAV; Grasso owns BA; Grasso owns BAC; Grasso owns D; Grasso owns KEG; Grasso owns LIT; Grasso owns MHY; Grasso owns PFE; Grasso owns PRST; Grasso owns S; Grasso owns XLU For Rebecca Patterson No disclosures For Mary Ann Bartels No disclosures For Zach Karabell Rivertwice has short puts AMZN Rivertwice is short XLF Rivertwice is short SMH Rivertwice owns IBM Rivertwice is short EK For Efraim Levy I have no affiliation with any company I am speaking about in this interview. I have no ownership interest in any company I am speaking about in this interview. S&P Capital IQ’s other affiliates may provide services to the companies that are the subject of my report. For David Shove As to each company covered on this website, the analyst hereby certifies that the views expressed accurately reflect the analyst’s personal views about the subject securities or issuers. Each analyst also certifies that no part of the analyst’s compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Analysts who prepared this report are compensated based upon (among other factors) the overall profitability of BMO Capital Markets and their affiliates, which includes the overall profitability of investment banking services. Compensation for research is based on effectiveness in generating new ideas and in communication of ideas to clients, performance of recommendations, accuracy of earnings estimates, and service to clients. Analysts employed by BMO Nesbitt Burns Inc. and/or BMO Capital Markets Ltd. are not registered as research analysts with FINRA. These analysts may not be associated persons of BMO Capital Markets Corp. and therefore may not be subject to the NASD Rule 2711 and NYSE Rule 472 restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account. CNBC.com with wires.
2021-10-30 14:11:31.346875
Buy Apple—the bulls will win this ‘war’: Trader
https://www.cnbc.com/2016/02/05/buy-apple-the-bulls-will-win-this-war-trader.html
2016-02-05T15:27:47+0000
Stephanie Yang
CNBC
After three tough months for Apple, the tech giant is finally finding a bottom, according to one trader. Apple shares are down more than 20 percent since November due to concerns about slowing iPhone sales and a difficult economic environment in China. But that selling makes this the ideal time to make a bullish play on the stock, according to Andrew Keene of AlphaShark. Keene believes that new products will give Apple a much-needed boost. Keene also noted that the company is still holding plenty of cash. "In the short term, we might get some volatility, ... [but] it is starting to consolidate here," Keene said Thursday on CNBC's "Trading Nation." "This is a tug of war between the bulls and the bears to see who wins." And Keene says the bulls now have the edge.Read More Why traders are betting on a big bounce for the metals "By 2017, I think Apple can march its way back to up to the highs, just like Facebook did, up to that $115 level," he said. To make a bullish trade, Keene is buying the January 2017 105-strike call and selling the January 115-strike call for a total cost of $2.50 per share, which is an options strategy known as a "bull call spread." Keene sees maximum profits if Apple rises to $115 by January expiration, but the trade is profitable if Apple shares rise to $107.50 by that time. Below that level, his losses are capped at the amount spent on the trade. A jump to $107.50 would be a 12 percent move for Apple's stock, which traded around $96 on Friday morning.
cnbc, Articles, Investment strategy, Apple Inc, Investing, Trading Nation, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1529470642
<div class="group"><p> After three tough months for <a href="//www.cnbc.com/quotes/AAPL" target="_blank">Apple</a>, the tech giant is finally finding a bottom, according to one trader. </p><p> Apple shares are down more than 20 percent since November due to concerns about slowing iPhone sales and a difficult economic environment in China. But that selling makes this the ideal time to make a bullish play on the stock, according to Andrew Keene of AlphaShark.</p><div style="height:100%" class="lazyload-placeholder"></div><p> Keene believes that new products will give Apple a much-needed boost. Keene also noted that the company is still holding plenty of cash.</p><p> "In the short term, we might get some volatility, ... [but] it is starting to consolidate here," Keene said Thursday on CNBC's "<a href="https://www.cnbc.com/trading-nation/">Trading Nation</a>." "This is a tug of war between the bulls and the bears to see who wins."</p><p> And Keene says the bulls now have the edge.</p><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2016/02/04/why-traders-are-betting-on-a-big-bounce-for-the-metals.html"> Why traders are betting on a big bounce for the metals</a><br></p><p> "By 2017, I think Apple can march its way back to up to the highs, just like <a href="//www.cnbc.com/quotes/FB" target="_blank">Facebook</a> did, up to that $115 level," he said. </p><div style="height:100%" class="lazyload-placeholder"></div><p> To make a bullish trade, Keene is buying the January 2017 105-strike call and selling the January 115-strike call for a total cost of $2.50 per share, which is an options strategy known as a "bull call spread." Keene sees maximum profits if Apple rises to $115 by January expiration, but the trade is profitable if Apple shares rise to $107.50 by that time. Below that level, his losses are capped at the amount spent on the trade.</p><p> A jump to $107.50 would be a 12 percent move for Apple's stock, which traded around $96 on Friday morning.</p></div>,<div class="group"><p> </p></div>,<div class="group"><p> <em>Want to be a part of the <a href="https://www.cnbc.com/trading-nation/">Trading Nation</a>? If you'd like to call into our live Wednesday show, email your name, number, and a question to [email protected]</em></p></div>
After three tough months for Apple, the tech giant is finally finding a bottom, according to one trader. Apple shares are down more than 20 percent since November due to concerns about slowing iPhone sales and a difficult economic environment in China. But that selling makes this the ideal time to make a bullish play on the stock, according to Andrew Keene of AlphaShark. Keene believes that new products will give Apple a much-needed boost. Keene also noted that the company is still holding plenty of cash. "In the short term, we might get some volatility, ... [but] it is starting to consolidate here," Keene said Thursday on CNBC's "Trading Nation." "This is a tug of war between the bulls and the bears to see who wins." And Keene says the bulls now have the edge.Read More Why traders are betting on a big bounce for the metals "By 2017, I think Apple can march its way back to up to the highs, just like Facebook did, up to that $115 level," he said. To make a bullish trade, Keene is buying the January 2017 105-strike call and selling the January 115-strike call for a total cost of $2.50 per share, which is an options strategy known as a "bull call spread." Keene sees maximum profits if Apple rises to $115 by January expiration, but the trade is profitable if Apple shares rise to $107.50 by that time. Below that level, his losses are capped at the amount spent on the trade. A jump to $107.50 would be a 12 percent move for Apple's stock, which traded around $96 on Friday morning. Want to be a part of the Trading Nation? If you'd like to call into our live Wednesday show, email your name, number, and a question to [email protected]
2021-10-30 14:11:31.499871
How teen created a profitable sneaker pawn shop
https://www.cnbc.com/2015/01/23/how-teen-entrepreneur-created-a-profitable-sneaker-pawn-shop.html
2015-01-23T19:24:15+0000
Kate Rogers
CNBC
Like many 16-year-olds, Chase Reed spends his days tied to his iPhone and Instagram account.  But you won't catch his dad, Troy Reed, bugging him to get off social media anytime soon. That's because with each "like" the teenager acquires online, the father and son are seeing big dollars.The father and son have opened a pawnshop exclusively devoted to sneakers. Sneaker Pawn USA is based in an apartment in New York's Harlem where the two used to live and have converted into sneaker start-up central. The duo advertise on social media platforms and share their inventory. Sneakers fans from around the world visit their Harlem shop, and shoes can be purchased online. Chase works along side his father to buy, trade and sell Air Jordans and other brands in the store, which opened in June.Troy says his son—still in high school—runs the show. "I actually work for him, and it's probably the best job I've ever had," said Troy, himself a serial entrepreneur. His past ventures included barber shop. He now works full-time at the sneaker pawn shop.
cnbc, Articles, Small business, Retail industry, Apparel Retail, Bitcoin, Nike Inc, Small Business, US Economy, Apparel, Retail, US: News, source:tagname:CNBC US Source
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<div class="group"><p> Like many 16-year-olds, Chase Reed spends his days tied to his iPhone and Instagram account. </p><p> But you won't catch his dad, Troy Reed, bugging him to get off social media anytime soon. That's because with each "like" the teenager acquires online, the father and son are seeing big dollars.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The father and son have opened a pawnshop exclusively devoted to sneakers. Sneaker Pawn USA is based in an apartment in New York's Harlem where the two used to live and have converted into sneaker <a href="https://www.cnbc.com/small-business/">start-up</a> central. The duo <span>advertise on social media platforms and share their inventory. Sneakers fans from around the world visit their Harlem shop, and shoes </span>can be purchased online.</p><p> Chase <span>works along side his father to buy, trade and sell Air Jordans and other brands in the store, which opened in June.</span></p><p>Troy says his son—still in high school—runs the show. "I actually work for him, and it's probably the best job I've ever had," said Troy, himself a serial entrepreneur. His past ventures included barber shop. He now works full-time at the sneaker pawn shop.</p></div>,<div class="group"><p> The pair got the idea for the business when Chase was 14. Troy, who is divorced, admits he indulged his son and allowed him to amass <span>a basketball sneaker collection worth about $30,000. Troy then persuaded his son to sell the shoes to generate the cash for a physical store.</span></p><p> <span>"It was hard to let go of the collection because I was 14 years old with 200 pairs of sneakers, and all of the sudden you have to go back to zero," Chase said. "But </span><span>it was just part of becoming a young man and an entrepreneur."</span><br></p><div style="height:100%" class="lazyload-placeholder"></div><p> <span>In 2013</span>, they sold Chase's shoes right out of the trunk of Troy's car on 125<sup>th </sup>Street. But as word spread, they quickly realized they were onto a big trend. Mom-and-pop pawn shops are ubiquitous, but few if any are devoted to sneakers.<br></p><p> The duo now have hundreds of pairs of sneakers in the store.</p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2014/10/15/young-entrepreneur-gloves-his-way-to-8-million-markand-beyond.html">Young entrepreneur 'gloves' his way to $8 million mark</a><br></p><p> The basketball sneaker market is booming. <span>Market research firm Janney Capital Markets reports basketball footwear sales hit $4.2 billion in 2014 in the U.S., citing data from SportScan, a consumer insights firm. Janney forecasts sales will increase 12 percent to $4.7 billion in 2015. </span></p><p><span>Once considered a fringe urban shoe trend, collecting basketball shoes reached a broader audience when </span><span><a href="//www.cnbc.com/quotes/NKE" target="_blank">Nike</a> released its Air Jordan I in 1984. The shoe was launched by Michael Jordan.</span></p></div>,<div class="group"><p> Troy said the markup on previously owned sneakers can be anywhere from 100 percent to 800 percent given consumer demand. For example, Nike's LeBron James "Crown Jewel" sneaker originally retailed for $250. But they're selling the pair for more than $1,200 at Sneaker Pawn USA because of its limited edition status.</p><p> "This is the new stock market—these sneakers are commodities," Troy said. <br></p><p> Troy and Chase won't disclose how much cash they're bringing in per month, but say they hope to attract a private investor in the next year to help them keep up with demand and expand into locations across the country. In just six months of being open, they say they're profitable.</p></div>,<div class="group"><p>This year Chase is teaming up with a shoe manufacturing company, Relevant Customs in Mount Vernon, New York, and plans to release a high-end line of shoes. Styles will feature exotic leathers with price tags of $10,000 and higher.</p><p> As for Chase's own private sneaker collection, it stands at around 50 pairs today. He has learned the art of looking cool, letting go and making money—all before his 18<sup>th</sup> birthday.</p><p> "If I get a nice shoe in the store, I'll end up selling it rather than collecting it," Chase said. "I'm a businessman now."</p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/01/20/main-street-reaches-for-a-comeback.html">Main Street reaches for a comeback</a></p><p><em>—CNBC's Betsy Cline contributed to this report.</em><br></p></div>
Like many 16-year-olds, Chase Reed spends his days tied to his iPhone and Instagram account.  But you won't catch his dad, Troy Reed, bugging him to get off social media anytime soon. That's because with each "like" the teenager acquires online, the father and son are seeing big dollars.The father and son have opened a pawnshop exclusively devoted to sneakers. Sneaker Pawn USA is based in an apartment in New York's Harlem where the two used to live and have converted into sneaker start-up central. The duo advertise on social media platforms and share their inventory. Sneakers fans from around the world visit their Harlem shop, and shoes can be purchased online. Chase works along side his father to buy, trade and sell Air Jordans and other brands in the store, which opened in June.Troy says his son—still in high school—runs the show. "I actually work for him, and it's probably the best job I've ever had," said Troy, himself a serial entrepreneur. His past ventures included barber shop. He now works full-time at the sneaker pawn shop. The pair got the idea for the business when Chase was 14. Troy, who is divorced, admits he indulged his son and allowed him to amass a basketball sneaker collection worth about $30,000. Troy then persuaded his son to sell the shoes to generate the cash for a physical store. "It was hard to let go of the collection because I was 14 years old with 200 pairs of sneakers, and all of the sudden you have to go back to zero," Chase said. "But it was just part of becoming a young man and an entrepreneur." In 2013, they sold Chase's shoes right out of the trunk of Troy's car on 125th Street. But as word spread, they quickly realized they were onto a big trend. Mom-and-pop pawn shops are ubiquitous, but few if any are devoted to sneakers. The duo now have hundreds of pairs of sneakers in the store. Read MoreYoung entrepreneur 'gloves' his way to $8 million mark The basketball sneaker market is booming. Market research firm Janney Capital Markets reports basketball footwear sales hit $4.2 billion in 2014 in the U.S., citing data from SportScan, a consumer insights firm. Janney forecasts sales will increase 12 percent to $4.7 billion in 2015. Once considered a fringe urban shoe trend, collecting basketball shoes reached a broader audience when Nike released its Air Jordan I in 1984. The shoe was launched by Michael Jordan. Troy said the markup on previously owned sneakers can be anywhere from 100 percent to 800 percent given consumer demand. For example, Nike's LeBron James "Crown Jewel" sneaker originally retailed for $250. But they're selling the pair for more than $1,200 at Sneaker Pawn USA because of its limited edition status. "This is the new stock market—these sneakers are commodities," Troy said.  Troy and Chase won't disclose how much cash they're bringing in per month, but say they hope to attract a private investor in the next year to help them keep up with demand and expand into locations across the country. In just six months of being open, they say they're profitable.This year Chase is teaming up with a shoe manufacturing company, Relevant Customs in Mount Vernon, New York, and plans to release a high-end line of shoes. Styles will feature exotic leathers with price tags of $10,000 and higher. As for Chase's own private sneaker collection, it stands at around 50 pairs today. He has learned the art of looking cool, letting go and making money—all before his 18th birthday. "If I get a nice shoe in the store, I'll end up selling it rather than collecting it," Chase said. "I'm a businessman now." Read MoreMain Street reaches for a comeback—CNBC's Betsy Cline contributed to this report.
2021-10-30 14:11:31.570174
Conditions on Disabled Cruise Ship in Dispute
https://www.cnbc.com/2013/02/13/conditions-on-disabled-cruise-ship-in-dispute.html
2013-02-13T12:55:50+0000
null
CNBC
A cruise line said it is making the passengers stranded aboard a disabled ship in the Gulf of Mexico as comfortable as possible with running water and some working bathrooms, contradicting the accounts of some passengers who told relatives of filthy, hot conditions and limited access to food. The ship, the Carnival Triumph, is still at least a day from being guided to a port in Mobile, Ala. Carnival President Gerry Cahill said Tuesday the ship has running water and most of its 23 public restrooms and some of the guest cabin bathrooms were working. He downplayed the possibility of an outbreak of disease from unsanitary conditions, saying the ship had not seen an abnormal number of people reporting to the infirmary as being ill. "No one here from Carnival is happy about the conditions onboard the ship," Cahill said at a news conference in Miami. "We obviously are very, very sorry about what is taking place." (Read More: Sick Guests, Dirty Boat: Inside Stranded Carnival Ship) Jimmy Mowlam, 63, whose 37-year-old son, Rob Mowlam, got married Saturday onboard the ship, said his son told him by phone Monday night that there is no running water and few working toilets. He said passengers were given plastic bags to "use for their business." Despite a forecast of brisker winds and slightly higher seas, the Coast Guard and Carnival said they did not expect conditions to deteriorate aboard ship. A cold front was expected to cross the central Gulf where the vessel is under tow, bringing north and northwesterly winds of 15 to 25 mph and seas of 4 to 6 feet, said Dennis Feltgen, spokesman for the National Hurricane Center. However, such conditions shouldn't affect conditions aboard ship, said Bill Segelken, spokesman for the Coast Guard Galveston command center. The ship was about 200 miles south of Mobile, Ala., as Tuesday faded into Wednesday, the Coast Guard said. Carnival says the ship is expected to arrive in Mobile on Thursday.
cnbc, Articles, Carnival Corp, Hotels Resorts and Cruise Lines, Business News, Life, Travel, source:tagname:The Associated Press
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<div class="group"><p> A cruise line said it is making the passengers stranded aboard a disabled ship in the Gulf of Mexico as comfortable as possible with running water and some working bathrooms, contradicting the accounts of some passengers who told relatives of filthy, hot conditions and limited access to food.</p><p> The ship, the Carnival Triumph, is still at least a day from being guided to a port in Mobile, Ala.</p><div style="height:100%" class="lazyload-placeholder"></div><p> <a href="//www.cnbc.com/quotes/CCL" target="_blank">Carnival</a> President Gerry Cahill said Tuesday the ship has running water and most of its 23 public restrooms and some of the guest cabin bathrooms were working. He downplayed the possibility of an outbreak of disease from unsanitary conditions, saying the ship had not seen an abnormal number of people reporting to the infirmary as being ill.</p><p> "No one here from Carnival is happy about the conditions onboard the ship," Cahill said at a news conference in Miami. "We obviously are very, very sorry about what is taking place."</p><p> (<em>Read More</em>: <a href="https://www.cnbc.com/2013/02/12/sick-guests-dirty-boat-inside-stranded-carnival-ship.html">Sick Guests, Dirty Boat: Inside Stranded Carnival Ship</a>)</p><p> Jimmy Mowlam, 63, whose 37-year-old son, Rob Mowlam, got married Saturday onboard the ship, said his son told him by phone Monday night that there is no running water and few working toilets. He said passengers were given plastic bags to "use for their business."</p><p> Despite a forecast of brisker winds and slightly higher seas, the Coast Guard and Carnival said they did not expect conditions to deteriorate aboard ship.</p><div style="height:100%" class="lazyload-placeholder"></div><p> A cold front was expected to cross the central Gulf where the vessel is under tow, bringing north and northwesterly winds of 15 to 25 mph and seas of 4 to 6 feet, said Dennis Feltgen, spokesman for the National Hurricane Center.</p><p> However, such conditions shouldn't affect conditions aboard ship, said Bill Segelken, spokesman for the Coast Guard Galveston command center.</p><p> The ship was about 200 miles south of Mobile, Ala., as Tuesday faded into Wednesday, the Coast Guard said. Carnival says the ship is expected to arrive in Mobile on Thursday.</p></div>,<div class="group"><p>The ship left Galveston, Texas, for a four-day cruise last Thursday with 3,143 passengers and 1,086 crew members. The ship was about 150 miles off Mexico's Yucatan Peninsula on Sunday when an engine room fire knocked out its primary power source, crippling its water and plumbing systems and leaving it adrift on only a backup power.<br></p><p> No one was injured in the fire, but Carnival spokeswoman Joyce Oliva said Tuesday that a passenger with a pre-existing medical condition was taken off the ship as a precaution.</p><p> Everyone else likely will have to remain onboard until the ship reaches Mobile, Ala., which is expected to happen Thursday, weather permitting.</p><p> Besides two tugs, at least two other Carnival cruise ships have been diverted to the Triumph to leave supplies and a 210-foot Coast Guard cutter was at the scene, Coast Guard Petty Officer Richard Brahm said Tuesday.</p><p> Mowlam said his son told him the lack of ventilation on the Triumph had made it too hot to sleep inside and that many passengers had set up camp on the ocean liner's decks and in its common areas. Mowlam said he wasn't sure where his son was sleeping.</p><p> "He said up on deck it looks like a shanty town, with sheets, almost like tents, mattresses, anything else they can pull to sleep on," said Mowlam, of the southeast Texas town of Warren. His son is from nearby Nederland.</p><p> Mowlam said his son indicated that passengers are trying to make the best of a bad situation.</p><p> "So far people have been pretty much taking it in stride," Mowlam said his son told him.</p><p> Rob Mowlam told his father the ship's crew had started giving free alcohol to passengers.</p><p> "He was concerned about what that was going to lead to when people start drinking too much," Mowlam said.</p><p> Other passengers have described more dire conditions, including overflowing toilets and limited access to food.</p><p> Jay Herring, a former senior officer for Carnival Cruise Lines, said one of the biggest concerns crew members will have until the ship docks is the potential for disease outbreak, particularly norovirus, which causes vomiting and diarrhea.</p><p> "Housekeeping, others are probably working double shifts to keep the mess clean and wipe down and sanitize all the common areas," said Herring, who worked for Carnival from 2002 to 2004 and spent four months on the Triumph.</p><p> Carnival hasn't determined what caused the fire, said Oliva, the company spokeswoman.</p><p> The National Transportation Safety Board announced Tuesday it has opened an investigation into the cause of the fire. The NTSB said the Bahamas Maritime Agency will lead the investigation because the ship carries a Bahamian flag.</p><p> The ship was originally going to be towed to a port in Progreso, Mexico, but after currents pushed it northward, the company decided to take it to Alabama, saying it would make it easier for passengers without passports to get home.</p><p> Cahill said Carnival has reserved more than 1,500 hotel rooms in Mobile and New Orleans for Thursday. The company plans to return passengers back to Houston on Friday using charter flights.</p><p> A similar situation occurred on a Carnival cruise ship in November 2010. That vessel, named Splendor, was stranded with 4,500 people aboard after a fire in the engine room. When the passengers disembarked in San Diego, they described a nightmarish three days in the Pacific with limited food, power and bathroom access.</p><p> Cahill said the Spendor's fire was different because it involved a "catastrophic explosion" in a diesel generator, and the Triumph's fire had "some other cause." He could not say what the economic impact will be due to the fire aboard the Triumph. The impact from the Splendor was $40 million, he said.</p><p> Carnival canceled the Triumph's next two voyages, scheduled to depart Monday and Saturday. Passengers aboard the stranded ship will also receive a full refund.</p></div>
A cruise line said it is making the passengers stranded aboard a disabled ship in the Gulf of Mexico as comfortable as possible with running water and some working bathrooms, contradicting the accounts of some passengers who told relatives of filthy, hot conditions and limited access to food. The ship, the Carnival Triumph, is still at least a day from being guided to a port in Mobile, Ala. Carnival President Gerry Cahill said Tuesday the ship has running water and most of its 23 public restrooms and some of the guest cabin bathrooms were working. He downplayed the possibility of an outbreak of disease from unsanitary conditions, saying the ship had not seen an abnormal number of people reporting to the infirmary as being ill. "No one here from Carnival is happy about the conditions onboard the ship," Cahill said at a news conference in Miami. "We obviously are very, very sorry about what is taking place." (Read More: Sick Guests, Dirty Boat: Inside Stranded Carnival Ship) Jimmy Mowlam, 63, whose 37-year-old son, Rob Mowlam, got married Saturday onboard the ship, said his son told him by phone Monday night that there is no running water and few working toilets. He said passengers were given plastic bags to "use for their business." Despite a forecast of brisker winds and slightly higher seas, the Coast Guard and Carnival said they did not expect conditions to deteriorate aboard ship. A cold front was expected to cross the central Gulf where the vessel is under tow, bringing north and northwesterly winds of 15 to 25 mph and seas of 4 to 6 feet, said Dennis Feltgen, spokesman for the National Hurricane Center. However, such conditions shouldn't affect conditions aboard ship, said Bill Segelken, spokesman for the Coast Guard Galveston command center. The ship was about 200 miles south of Mobile, Ala., as Tuesday faded into Wednesday, the Coast Guard said. Carnival says the ship is expected to arrive in Mobile on Thursday.The ship left Galveston, Texas, for a four-day cruise last Thursday with 3,143 passengers and 1,086 crew members. The ship was about 150 miles off Mexico's Yucatan Peninsula on Sunday when an engine room fire knocked out its primary power source, crippling its water and plumbing systems and leaving it adrift on only a backup power. No one was injured in the fire, but Carnival spokeswoman Joyce Oliva said Tuesday that a passenger with a pre-existing medical condition was taken off the ship as a precaution. Everyone else likely will have to remain onboard until the ship reaches Mobile, Ala., which is expected to happen Thursday, weather permitting. Besides two tugs, at least two other Carnival cruise ships have been diverted to the Triumph to leave supplies and a 210-foot Coast Guard cutter was at the scene, Coast Guard Petty Officer Richard Brahm said Tuesday. Mowlam said his son told him the lack of ventilation on the Triumph had made it too hot to sleep inside and that many passengers had set up camp on the ocean liner's decks and in its common areas. Mowlam said he wasn't sure where his son was sleeping. "He said up on deck it looks like a shanty town, with sheets, almost like tents, mattresses, anything else they can pull to sleep on," said Mowlam, of the southeast Texas town of Warren. His son is from nearby Nederland. Mowlam said his son indicated that passengers are trying to make the best of a bad situation. "So far people have been pretty much taking it in stride," Mowlam said his son told him. Rob Mowlam told his father the ship's crew had started giving free alcohol to passengers. "He was concerned about what that was going to lead to when people start drinking too much," Mowlam said. Other passengers have described more dire conditions, including overflowing toilets and limited access to food. Jay Herring, a former senior officer for Carnival Cruise Lines, said one of the biggest concerns crew members will have until the ship docks is the potential for disease outbreak, particularly norovirus, which causes vomiting and diarrhea. "Housekeeping, others are probably working double shifts to keep the mess clean and wipe down and sanitize all the common areas," said Herring, who worked for Carnival from 2002 to 2004 and spent four months on the Triumph. Carnival hasn't determined what caused the fire, said Oliva, the company spokeswoman. The National Transportation Safety Board announced Tuesday it has opened an investigation into the cause of the fire. The NTSB said the Bahamas Maritime Agency will lead the investigation because the ship carries a Bahamian flag. The ship was originally going to be towed to a port in Progreso, Mexico, but after currents pushed it northward, the company decided to take it to Alabama, saying it would make it easier for passengers without passports to get home. Cahill said Carnival has reserved more than 1,500 hotel rooms in Mobile and New Orleans for Thursday. The company plans to return passengers back to Houston on Friday using charter flights. A similar situation occurred on a Carnival cruise ship in November 2010. That vessel, named Splendor, was stranded with 4,500 people aboard after a fire in the engine room. When the passengers disembarked in San Diego, they described a nightmarish three days in the Pacific with limited food, power and bathroom access. Cahill said the Spendor's fire was different because it involved a "catastrophic explosion" in a diesel generator, and the Triumph's fire had "some other cause." He could not say what the economic impact will be due to the fire aboard the Triumph. The impact from the Splendor was $40 million, he said. Carnival canceled the Triumph's next two voyages, scheduled to depart Monday and Saturday. Passengers aboard the stranded ship will also receive a full refund.
2021-10-30 14:11:31.658878
Starting a Business: The Romance vs. the Reality
https://www.cnbc.com/2011/11/28/starting-a-business-the-romance-vs-the-reality.html
2011-11-28T15:05:41+0000
null
CNBC
Some people who toil discontentedly in corporate cubicles regard entrepreneurship as the cure for all workplace ills. Only when they’ve experienced running a business personally do they find that the reality is much different.Mike Cleary, for example, left his job as a sales and marketing executive to become an entrepreneur because he was tired of office politics. But after buying a franchise and an existing business about eight years ago, Cleary sparred with difficult vendors and suppliers. “It seemed very one-sided, with many commitments and obligations on my part, and much less required of the people I was buying from,” he said.In an effort to establish trust, he says, he extended credit to a client of the previous owner. Unfortunately, he says, the client was not forthcoming with payment, costing him tens of thousands of dollars in lost revenue.
cnbc, Articles, Business News, Small Business, source:tagname:The New York Times
https://image.cnbcfm.com…jpg?v=1354732729
<div class="group"><p>Some people who toil discontentedly in corporate cubicles regard entrepreneurship as the cure for all workplace ills. Only when they’ve experienced running a business personally do they find that the reality is much different.</p><p>Mike Cleary, for example, left his job as a sales and marketing executive to become an entrepreneur because he was tired of office politics. But after buying a franchise and an existing business about eight years ago, Cleary sparred with difficult vendors and suppliers. “It seemed very one-sided, with many commitments and obligations on my part, and much less required of the people I was buying from,” he said.</p><div style="height:100%" class="lazyload-placeholder"></div><p>In an effort to establish trust, he says, he extended credit to a client of the previous owner. Unfortunately, he says, the client was not forthcoming with payment, costing him tens of thousands of dollars in lost revenue.</p></div>,<div class="group"><strong><p>The Hiring Hurdle</p></strong><p>Finding loyal employees was no picnic, either. “It was a harsh wake-up call,” said Cleary, adding, “to find out how many employees are not truly committed to the business they’re working for.”</p><p>The recent recession was particularly hard on the revenue and cash flow of his small business. Eventually, he found himself too deeply in debt to continue, and he returned to working for an established organization.</p><p>Today, he is content in his role as senior vice president for strategic marketing and field operations at the National Wild Turkey Federation in Edgefield, S.C., where he feels that he is living his personal mission to help conserve natural habitats. “I love that I’m finally in a position to worry about the high-level strategy instead of the other stuff, which just sapped my energy,” Cleary said. “It’s really freeing.”</p><div style="height:100%" class="lazyload-placeholder"></div><p>Many prospective entrepreneurs fail to realize that office politics are everywhere, and that you can’t escape them when you strike out on your own. You may still have to contend with rude clients and partners, with many situations feeling eerily similar to those of your days by the water cooler. And you often learn the hard way that people tend to clash regardless of the environment.</p><p><strong>Challenges to an Entrepreneurial Path</strong></p><p>There are other reasons you may want to steer clear of the entrepreneurial path. First, there’s the sheer difficulty of finding a market niche for your product or service, as well as the proper resources to make a new business happen. Then there are the minutiae. As the founder, you will find that anything and everything is your responsibility. You will oversee production, distribution, marketing, sales and turning a profit. You’ll have to manage employees and vendors, and pesky details like accounting, taxes, insurance and licenses.</p><p>Would-be entrepreneurs who want to have a better work-life balance are in for a rude awakening. For at least the first few years, you may be on the job at all hours. If a customer has a problem in the middle of the night, you are the one who’s getting up to address it. And if the company goes under, you are solely accountable for that failure, sacrificing your financial livelihood in the process.</p><p>These days, the traditional business world gets a bad rap. But there are some highly valuable aspects of regular jobs that we don’t think about until they are gone. These are the three P’s: peace, prestige and perks.</p><p>When you are one employee out of 1,000 or 100,000, you have much more peace. It’s actually possible to leave your work woes at the office and turn off your BlackBerry without jeopardizing the company’s future. Life is simpler. You have a defined set of responsibilities, and if you carry them out well and get results, you can go about your business with the certainty that the rest of the company can take care of itself.</p><p>And if you are intelligent and personable, you can rise to a respectable place in an esteemed organization. Your friends and family won’t fidget nervously when you tell them about your job. Being able to put a known company on your résumé equals credibility and opens career doors.</p><p><strong>Remember the Perks</strong></p><p>Finally, don’t forget about the perks. At a large organization, your compensation package is just that: a package. Besides base salary, the money your employer contributes to your health insurance and retirement plans can be essential to surviving in today’s world. And don’t discount the value of possible benefits like cars, gym memberships, child care, on-the-job lunches and big discounts on company products.</p><p>The corporate world also gives you the opportunity to be around lots of people all the time. And, inevitably, some will be executives in a position to help with your career. The ability to establish relationships with powerful people in the context of your daily work is the best kind of networking out there.</p><p>The entrepreneurial lifestyle isn’t for everyone. It wasn’t for Cleary, and it may not be for you. Before you decide to take the plunge, think long and hard about what you’ll be getting yourself into, and what you’ll be giving up.</p></div>
Some people who toil discontentedly in corporate cubicles regard entrepreneurship as the cure for all workplace ills. Only when they’ve experienced running a business personally do they find that the reality is much different.Mike Cleary, for example, left his job as a sales and marketing executive to become an entrepreneur because he was tired of office politics. But after buying a franchise and an existing business about eight years ago, Cleary sparred with difficult vendors and suppliers. “It seemed very one-sided, with many commitments and obligations on my part, and much less required of the people I was buying from,” he said.In an effort to establish trust, he says, he extended credit to a client of the previous owner. Unfortunately, he says, the client was not forthcoming with payment, costing him tens of thousands of dollars in lost revenue.The Hiring HurdleFinding loyal employees was no picnic, either. “It was a harsh wake-up call,” said Cleary, adding, “to find out how many employees are not truly committed to the business they’re working for.”The recent recession was particularly hard on the revenue and cash flow of his small business. Eventually, he found himself too deeply in debt to continue, and he returned to working for an established organization.Today, he is content in his role as senior vice president for strategic marketing and field operations at the National Wild Turkey Federation in Edgefield, S.C., where he feels that he is living his personal mission to help conserve natural habitats. “I love that I’m finally in a position to worry about the high-level strategy instead of the other stuff, which just sapped my energy,” Cleary said. “It’s really freeing.”Many prospective entrepreneurs fail to realize that office politics are everywhere, and that you can’t escape them when you strike out on your own. You may still have to contend with rude clients and partners, with many situations feeling eerily similar to those of your days by the water cooler. And you often learn the hard way that people tend to clash regardless of the environment.Challenges to an Entrepreneurial PathThere are other reasons you may want to steer clear of the entrepreneurial path. First, there’s the sheer difficulty of finding a market niche for your product or service, as well as the proper resources to make a new business happen. Then there are the minutiae. As the founder, you will find that anything and everything is your responsibility. You will oversee production, distribution, marketing, sales and turning a profit. You’ll have to manage employees and vendors, and pesky details like accounting, taxes, insurance and licenses.Would-be entrepreneurs who want to have a better work-life balance are in for a rude awakening. For at least the first few years, you may be on the job at all hours. If a customer has a problem in the middle of the night, you are the one who’s getting up to address it. And if the company goes under, you are solely accountable for that failure, sacrificing your financial livelihood in the process.These days, the traditional business world gets a bad rap. But there are some highly valuable aspects of regular jobs that we don’t think about until they are gone. These are the three P’s: peace, prestige and perks.When you are one employee out of 1,000 or 100,000, you have much more peace. It’s actually possible to leave your work woes at the office and turn off your BlackBerry without jeopardizing the company’s future. Life is simpler. You have a defined set of responsibilities, and if you carry them out well and get results, you can go about your business with the certainty that the rest of the company can take care of itself.And if you are intelligent and personable, you can rise to a respectable place in an esteemed organization. Your friends and family won’t fidget nervously when you tell them about your job. Being able to put a known company on your résumé equals credibility and opens career doors.Remember the PerksFinally, don’t forget about the perks. At a large organization, your compensation package is just that: a package. Besides base salary, the money your employer contributes to your health insurance and retirement plans can be essential to surviving in today’s world. And don’t discount the value of possible benefits like cars, gym memberships, child care, on-the-job lunches and big discounts on company products.The corporate world also gives you the opportunity to be around lots of people all the time. And, inevitably, some will be executives in a position to help with your career. The ability to establish relationships with powerful people in the context of your daily work is the best kind of networking out there.The entrepreneurial lifestyle isn’t for everyone. It wasn’t for Cleary, and it may not be for you. Before you decide to take the plunge, think long and hard about what you’ll be getting yourself into, and what you’ll be giving up.
2021-10-30 14:11:31.914911
Kendall Jenner just bought an $8.55 million house in Beverly Hills—take a look inside
https://www.cnbc.com/2017/10/23/inside-kendall-jenners-new-beverly-hills-home.html
2017-10-23T20:11:12+0000
Ali Montag
CNBC
While her sisters Kim Kardashian and Kylie Jenner are building business empires around digital media and cosmetics, 21-year-old Kendall Jenner is raking in a fortune of her own. In 2016, she landed on Forbes' highest paid models list and its top-earning reality stars list, bringing in $17 million for the year, according to the publication.Now, she's spending some of that hard-earned cash on a new home. Jenner paid $8.55 million for a Spanish-style Beverly Hills, Calif., mansion, according to Trulia. The house at one point belonged to Charlie Sheen. The pictures below are the same used when Sheen listed and sold the house in 2016 for $5.4 million.Take a look inside.
makeit, Articles, Make It, Make It - Money, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1529476570
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2021-10-30 14:11:32.069160
VMware CEO Pat Gelsinger says a Dell spinoff could give him freedom to work with more manufacturers
https://www.cnbc.com/2020/09/29/vmware-ceo-dell-spinoff-could-bring-freedom-on-go-to-market.html
2020-09-29T15:55:01+0000
Jordan Novet
CNBC
VMware CEO Pat Gelsinger said that if majority owner Dell follows through with a spinoff of his company, it would provide him with greater flexibility to team up with other hardware makers.Speaking to CNBC ahead of this week's virtual VMworld conference, Gelsinger said VMware's server virtualization software could start to "show up with HP" if that's what customers want."The ecosystem would look favorably on a more independent VMware," Gelsinger said. VMware shares have dropped this year, underperforming tech stocks and the broader market, as the coronavirus pandemic has pushed more businesses to the cloud and away from physical data centers.Dell, which acquired its 80% stake in VMware through the 2016 acquisition of data storage maker EMC, said in July that it was exploring a VMware spinoff to Dell shareholders, in part to enhance "strategic flexibility." Any deal wouldn't happen before September 2021, Dell said.In addition to greater partnership opportunities, operating independently could make VMware a more attractive destination for top talent and give the company more freedom to do deals, Gelsinger said."I can't effectively use my equity for acquisitions today," he said. "There's a very tight ownership range I have to live inside of."That's not to say VMware has shied away from dealmaking. Since becoming CEO in 2012, Gelsinger has completed more than 40 acquisitions, including Carbon Black, CloudHealth and VeloCloud, helping bolster VMware's subscription software business. He also led a partnership with Amazon Web Services in 2016, so customers could use a combination of cloud and on-premises services for their workloads.After the coronavirus pandemic forced companies to close their offices, some VMware customers became more reliant on cloud services from AWS. That theme has played out across the cloud infrastructure landscape. Microsoft CEO Satya Nadella told analysts in April that "we have seen two years' worth of digital transformation in two months," referring to sales, customers service and security all moving into "a world of remote everything."VMware's license revenue dropped 7% in the quarter that ended July 31, compared with 2% growth in the prior quarter. The company's cloud and subscription unit grew 44%. Gelsinger said some companies are heading in the other direction with their infrastructure, because cloud costs can get hefty. Comcast, he said, had about half its capacity in the cloud and the other half in traditional data centers and is increasing the portion of on-premises work to 70%.That split "gives them a much better economic model," Gelsinger said.There are also laws in various countries that prevent some applications from being hosted in the cloud, and there are other instances where data doesn't need to move over the internet so it's better served on-premises. VMware is still investing in its traditional business. On Tuesday, it announced that it is working with chipmaker Nvidia to make it easier for customers to run artificial intelligence workloads using VMware's vSphere server-management software.As the company heads toward a possible ownership change, Gelsinger said investors are looking for leadership continuity."I'm a very happy CEO these days, and I don't expect that to change," Gelsinger said.Disclosure: Comcast is the parent company of NBCUniversal and CNBC.WATCH: VMware CEO Patrick Gelsinger on its second-quarter results
cnbc, Articles, Enterprise, Breaking News: Technology, Technology, Business, Dell Technologies Inc, VMware Inc, HP Inc, Microsoft Corp, Amazon.com Inc, Comcast Corp, NVIDIA Corp, Satya Nadella, US: News, source:tagname:CNBC US Source
https://image.cnbcfm.com…peg?v=1566576105
<div class="group"><p><a href="//www.cnbc.com/quotes/VMW" target="_blank">VMware</a> CEO Pat Gelsinger said that if majority owner <a href="//www.cnbc.com/quotes/DELL" target="_blank">Dell</a> follows through with a spinoff of his company, it would provide him with greater flexibility to team up with other hardware makers.</p><p>Speaking to CNBC ahead of this week's virtual VMworld conference, Gelsinger said VMware's server virtualization software could start to "show up with <a href="//www.cnbc.com/quotes/HPQ" target="_blank">HP</a>" if that's what customers want.</p><div style="height:100%" class="lazyload-placeholder"></div><p>"The ecosystem would look favorably on a more independent VMware," Gelsinger said. VMware shares have dropped this year, underperforming tech stocks and the broader market, as the coronavirus pandemic has pushed more businesses to the cloud and away from physical data centers.</p><p>Dell, which acquired its 80% stake in VMware through the 2016 acquisition of data storage maker EMC, <a href="https://www.sec.gov/Archives/edgar/data/1124610/000119312520193339/d933815dsc13da.htm" target="_blank">said in July</a> that it was exploring a VMware spinoff to Dell shareholders, in part to enhance "strategic flexibility." Any deal wouldn't happen before September 2021, Dell said.</p><p>In addition to greater partnership opportunities, operating independently could make VMware a more attractive destination for top talent and give the company more freedom to do deals, Gelsinger said.</p><p>"I can't effectively use my equity for acquisitions today," he said. "There's a very tight ownership range I have to live inside of."</p><p>That's not to say VMware has shied away from dealmaking. Since becoming CEO in 2012, Gelsinger has completed more than 40 acquisitions, including<a href="https://www.cnbc.com/2019/08/22/vmware-earnings-q2-2020-acquires-carbon-black-pivotal.html"> Carbon Black</a>, CloudHealth and VeloCloud, helping bolster VMware's subscription software business. He also led a <a href="https://carbon.cnbc.com/105415489" target="_blank">partnership</a> with <a href="//www.cnbc.com/quotes/AMZN" target="_blank">Amazon</a> Web Services in 2016, so customers could use a combination of cloud and on-premises services for their workloads.</p><div style="height:100%" class="lazyload-placeholder"></div><p>After the coronavirus pandemic forced companies to close their offices, some VMware customers became more reliant on cloud services from AWS. That theme has played out across the cloud infrastructure landscape. <a href="//www.cnbc.com/quotes/MSFT" target="_blank">Microsoft</a> CEO <a href="https://www.cnbc.com/satya-nadella/">Satya Nadella</a> told analysts in April that "we have seen two years' worth of digital transformation in two months," referring to sales, customers service and security all moving into "a world of remote everything."</p><p>VMware's license revenue <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1124610/000112461020000052/vmw-731202010xq.htm" target="_blank">dropped 7%</a> in the quarter that ended July 31, compared with 2% growth in the prior quarter. The company's cloud and subscription unit grew 44%. </p><p>Gelsinger said some companies are heading in the other direction with their infrastructure, because cloud costs can get hefty. <a href="//www.cnbc.com/quotes/CMCSA" target="_blank">Comcast</a>, he said, had about half its capacity in the cloud and the other half in traditional data centers and is increasing the portion of on-premises work to 70%.</p><p>That split "gives them a much better economic model," Gelsinger said.</p><p>There are also laws in various countries that prevent some applications from being hosted in the cloud, and there are other instances where data doesn't need to move over the internet so it's better served on-premises. VMware is still investing in its traditional business. On Tuesday, it announced that it is working with <a href="//www.cnbc.com/quotes/NVDA" target="_blank">chipmaker Nvidia</a> to make it easier for customers to run artificial intelligence workloads using VMware's vSphere server-management software.</p><p>As the company heads toward a possible ownership change, Gelsinger said investors are looking for leadership continuity.</p><p>"I'm a very happy CEO these days, and I don't expect that to change," Gelsinger said.</p><p><em>Disclosure: Comcast is the parent company of NBCUniversal and CNBC.</em></p><p><strong>WATCH: </strong><a href="https://www.cnbc.com/video/2020/08/28/vmware-ceo-patrick-gelsinger-on-its-second-quarter-results.html">VMware CEO Patrick Gelsinger on its second-quarter results</a></p></div>
VMware CEO Pat Gelsinger said that if majority owner Dell follows through with a spinoff of his company, it would provide him with greater flexibility to team up with other hardware makers.Speaking to CNBC ahead of this week's virtual VMworld conference, Gelsinger said VMware's server virtualization software could start to "show up with HP" if that's what customers want."The ecosystem would look favorably on a more independent VMware," Gelsinger said. VMware shares have dropped this year, underperforming tech stocks and the broader market, as the coronavirus pandemic has pushed more businesses to the cloud and away from physical data centers.Dell, which acquired its 80% stake in VMware through the 2016 acquisition of data storage maker EMC, said in July that it was exploring a VMware spinoff to Dell shareholders, in part to enhance "strategic flexibility." Any deal wouldn't happen before September 2021, Dell said.In addition to greater partnership opportunities, operating independently could make VMware a more attractive destination for top talent and give the company more freedom to do deals, Gelsinger said."I can't effectively use my equity for acquisitions today," he said. "There's a very tight ownership range I have to live inside of."That's not to say VMware has shied away from dealmaking. Since becoming CEO in 2012, Gelsinger has completed more than 40 acquisitions, including Carbon Black, CloudHealth and VeloCloud, helping bolster VMware's subscription software business. He also led a partnership with Amazon Web Services in 2016, so customers could use a combination of cloud and on-premises services for their workloads.After the coronavirus pandemic forced companies to close their offices, some VMware customers became more reliant on cloud services from AWS. That theme has played out across the cloud infrastructure landscape. Microsoft CEO Satya Nadella told analysts in April that "we have seen two years' worth of digital transformation in two months," referring to sales, customers service and security all moving into "a world of remote everything."VMware's license revenue dropped 7% in the quarter that ended July 31, compared with 2% growth in the prior quarter. The company's cloud and subscription unit grew 44%. Gelsinger said some companies are heading in the other direction with their infrastructure, because cloud costs can get hefty. Comcast, he said, had about half its capacity in the cloud and the other half in traditional data centers and is increasing the portion of on-premises work to 70%.That split "gives them a much better economic model," Gelsinger said.There are also laws in various countries that prevent some applications from being hosted in the cloud, and there are other instances where data doesn't need to move over the internet so it's better served on-premises. VMware is still investing in its traditional business. On Tuesday, it announced that it is working with chipmaker Nvidia to make it easier for customers to run artificial intelligence workloads using VMware's vSphere server-management software.As the company heads toward a possible ownership change, Gelsinger said investors are looking for leadership continuity."I'm a very happy CEO these days, and I don't expect that to change," Gelsinger said.Disclosure: Comcast is the parent company of NBCUniversal and CNBC.WATCH: VMware CEO Patrick Gelsinger on its second-quarter results
2021-10-30 14:11:32.264676
Early movers FIATY, AAPL, GOOG, BAC, CPB, S & more
https://www.cnbc.com/2014/01/02/early-movers-before-the-bell.html
2014-01-02T12:38:05+0000
Peter Schacknow
CNBC
Check out which companies are making headlines before the bell: Fiat —The automaker finally reached a long-sought agreement to buy the shares of Chrysler it doesn't already own for $3.65 billion. The stock has been owned by a United Auto Workers union health care trust. Apple–The iPhone maker was downgraded to "market perform" from "outperform" at Wells Fargo, which points to valuation as well as possible profit margin pressure at whatever time Apple introduces another new version of the iPhone. Bank of America–Citi upgraded B of A to "buy" from "neutral", saying the bank is no longer impacted by legacy issues.
cnbc, Articles, Market Insider, Earnings, Fiat Industrial SpA, Apple Inc, Bank of America Corp, Alphabet Class A, Newmont Corporation, Goldcorp Inc, Campbell Soup Co, Diageo PLC, Barclays PLC, Nokia Oyj, Xilinx Inc, Altera Corp, American Eagle Outfitters Inc, Executive Edge, Markets, U.S. Markets, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1387562267
<div class="group"><p> <em>Check out which companies are making headlines before the bell</em>: </p><p><a href="//www.cnbc.com/quotes/4AIM-IT" target="_blank"> Fiat </a>—The automaker finally reached a<a href="https://www.cnbc.com/2014/01/01/fiat-agrees-to-buy-remaining-stake-in-chrysler.html"> long-sought agreement</a> to buy the <a href="https://www.cnbc.com/2013/11/25/fiat-not-practical-to-launch-and-complete-chrysler-ipo-before-the-end-of-2013.html">shares of Chrysler</a> it doesn't already own for $3.65 billion. The stock has been owned by a United Auto Workers union health care trust.</p><div style="height:100%" class="lazyload-placeholder"></div><p><a href="//www.cnbc.com/quotes/AAPL" target="_blank"> Apple</a>–The iPhone maker was downgraded to "market perform" from "outperform" at <strong>Wells Fargo</strong>, which points to valuation as well as possible profit margin pressure at whatever time Apple introduces another new version of the iPhone.</p><p><a href="//www.cnbc.com/quotes/BAC" target="_blank"> Bank of America</a>–Citi upgraded B of A to "buy" from "neutral", saying the bank is no longer impacted by legacy issues. </p></div>,<div class="group"><p> <a href="//www.cnbc.com/quotes/GOOGL" target="_blank">Google</a>–The search giant is shutting down recently acquired <strong>Bump</strong>, so that the Bump team can work on other Google projects. The unit is the developer of software that allows smartphones to transfer information by tapping them together.</p><p> <a href="//www.cnbc.com/quotes/NEM" target="_blank">Newmont Mining</a>, <a href="//www.cnbc.com/quotes/GGN-MX" target="_blank">Goldcorp</a>–These and other gold producers could get a bump today, as <a href="https://www.cnbc.com/2014/01/01/gold-starts-2014-on-a-high-note-ends-19-higher.html">gold rallies</a> following the metal's biggest yearly drop in 32 years.</p><p> <a href="//www.cnbc.com/quotes/CPB" target="_blank">Campbell Soup</a>–Campbell has issued a recall for about 300 cases of Prego Traditional Italian sauce, saying there is a risk of spoilage.</p><div style="height:100%" class="lazyload-placeholder"></div><p> <a href="//www.cnbc.com/quotes/DGE-GB" target="_blank">Diageo</a>, <a href="//www.cnbc.com/quotes/BARC-GB" target="_blank">Barclays</a>, and <a href="//www.cnbc.com/quotes/NOKIA-FI" target="_blank">Nokia</a>–The three are among the U.S.-traded stocks included in Bank of America Merrill Lynch's top EMEA (Europe, Middle East, and Africa) stock ideas for the first quarter.</p><p> <a href="//www.cnbc.com/quotes/XLNX" target="_blank">Xilinx</a>–The stock has been upgraded to "buy" from "neutral" at Goldman Sachs, while rival specialty chip maker <a href="//www.cnbc.com/quotes/.AD.IXIC" target="_blank">Altera</a> has been cut to "neutral" from "buy".</p><p> <strong>Retailers</strong>–Jefferies upgraded retailers <a href="//www.cnbc.com/quotes/AEO" target="_blank">American Eagle</a>, <!-- -->, <!-- -->, and <!-- --> to "buy" from "hold", saying they've done well in a challenging environment, while cutting <!-- --> and <!-- --> to "hold" from "buy", citing what Jefferies sees as a long recovery period following difficult times.</p><p>–The drug maker entered an agreement with <!-- --> (CVS) which will make its diet drug Qsymia available for co-payments of $15 to $75 in cases where patients have obesity coverage.</p><p>–The mobile carrier's stock was cut to "market perform" from "outperform" at <strong>Cowen &amp; Co.</strong>, which still has a positive long term outlook but said the stock is currently ahead of where it should be.</p><p>–<strong>Goldman Sachs </strong>removed the stock from its "conviction buy" list, although a "buy" rating remains. Goldman cites a more balanced risk/reward ratio at current levels, but also raised the 12-month price target to $37 based on T-Mobile's possible value as a takeover target.</p><p> <em>—</em><em>By CNBC's Peter Schacknow</em></p><p> <em>Questions? Comments? Email us at [email protected]</em></p></div>
Check out which companies are making headlines before the bell: Fiat —The automaker finally reached a long-sought agreement to buy the shares of Chrysler it doesn't already own for $3.65 billion. The stock has been owned by a United Auto Workers union health care trust. Apple–The iPhone maker was downgraded to "market perform" from "outperform" at Wells Fargo, which points to valuation as well as possible profit margin pressure at whatever time Apple introduces another new version of the iPhone. Bank of America–Citi upgraded B of A to "buy" from "neutral", saying the bank is no longer impacted by legacy issues. Google–The search giant is shutting down recently acquired Bump, so that the Bump team can work on other Google projects. The unit is the developer of software that allows smartphones to transfer information by tapping them together. Newmont Mining, Goldcorp–These and other gold producers could get a bump today, as gold rallies following the metal's biggest yearly drop in 32 years. Campbell Soup–Campbell has issued a recall for about 300 cases of Prego Traditional Italian sauce, saying there is a risk of spoilage. Diageo, Barclays, and Nokia–The three are among the U.S.-traded stocks included in Bank of America Merrill Lynch's top EMEA (Europe, Middle East, and Africa) stock ideas for the first quarter. Xilinx–The stock has been upgraded to "buy" from "neutral" at Goldman Sachs, while rival specialty chip maker Altera has been cut to "neutral" from "buy". Retailers–Jefferies upgraded retailers American Eagle, , , and to "buy" from "hold", saying they've done well in a challenging environment, while cutting and to "hold" from "buy", citing what Jefferies sees as a long recovery period following difficult times.–The drug maker entered an agreement with (CVS) which will make its diet drug Qsymia available for co-payments of $15 to $75 in cases where patients have obesity coverage.–The mobile carrier's stock was cut to "market perform" from "outperform" at Cowen & Co., which still has a positive long term outlook but said the stock is currently ahead of where it should be.–Goldman Sachs removed the stock from its "conviction buy" list, although a "buy" rating remains. Goldman cites a more balanced risk/reward ratio at current levels, but also raised the 12-month price target to $37 based on T-Mobile's possible value as a takeover target. —By CNBC's Peter Schacknow Questions? Comments? Email us at [email protected]
2021-10-30 14:11:32.326185
Amazon and Google are going to be in every aspect of your life whether you want them to or not
https://www.cnbc.com/2019/01/11/amazon-and-google-won-ces-2019.html
2019-01-11T18:29:51+0000
Todd Haselton
CNBC
Until recently, Amazon and Google competed for presence in our homes through their own gadgets: Smart speakers like the Amazon Echo and Google Home, TV add-ons like Chromecast and Fire TV and even home security systems like Nest and Ring.But, at CES 2019, that competition was brought to a boil as partners from both companies launched dozens of products that will bring Amazon Alexa and Google Assistant into nearly every aspect of our lives.I've been attending CES for more than a decade, and it's always home to all sorts of new doohickeys, from robots to health trackers and the latest in TV technology. While those things were all on display this year, too, I couldn't help but notice the massive presence of Google and Amazon, two companies that didn't even exist at CES a couple of years ago. That's because their smart assistants, the ones you can control by voice, are being built into almost every category of new product that was introduced at CES, from TVs to ovens — even lawnmowers and a toilet.
cnbc, Articles, Alphabet Class A, Amazon.com Inc, Technology, Tech Drivers, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1547058171
<div class="group"><p>Until recently, <a href="//www.cnbc.com/quotes/AMZN" target="_blank">Amazon</a> and <a href="//www.cnbc.com/quotes/GOOGL" target="_blank">Google</a> competed for presence in our homes through their own gadgets: Smart speakers like the Amazon Echo and Google Home, TV add-ons like Chromecast and Fire TV and even home security systems like Nest and Ring.</p><p>But, at CES 2019, that competition was brought to a boil as partners from both companies launched dozens of products that will bring Amazon Alexa and Google Assistant into nearly every aspect of our lives.</p><div style="height:100%" class="lazyload-placeholder"></div><p>I've been attending CES for more than a decade, and it's always home to all sorts of new doohickeys, from robots to health trackers and the latest in TV technology. While those things were all on display this year, too, I couldn't help but notice the massive presence of Google and Amazon, two companies that didn't even exist at CES a couple of years ago. That's because their smart assistants, the ones you can control by voice, are being built into <a href="https://www.cnbc.com/2019/01/08/amazon-alexa-gadgets-at-ces.html">almost every category of new product that was introduced at CES</a>, from TVs to ovens — even lawnmowers and a <a href="https://www.cnbc.com/video/2019/01/08/kohlers-7000-numi-2-point-0-toilet-with-amazon-alexa-built-in.html">toilet</a>.</p></div>,<div class="group"><p>Google tripled the size of its booth this year, where it even had a roller coaster that brought riders through an experience that explained how you can use Google Assistant throughout the day, from getting directions and traffic information to ordering food and snapping a selfie.</p><p>Amazon had three different booths. There was one for "Key by Amazon," which showed how you can have packages delivered inside your house, into your car and — new this year — into your garage. It also had a booth dedicated to Ring, its home security system, that showed off a range of new products like security cameras and lights. Amazon also had an entire room where it had an array of products from its partners, including smart glasses, coffee machines, ovens and more, all with Alexa built-in.</p></div>,<div class="group"><p>Both firms also revealed how widespread their ecosystems are.</p><p>Google said that by the end of January, more than 1 billion devices will have Google Assistant built-in. That's up from 500 million in May, but a lot of that growth is because Assistant now ships as a standard feature on Android phones. Google Assistant is also built into 10,000 different smart home devices from more than 1,600 brands, the company said.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Amazon said there are now more than 150 products with Alexa built directly in — which means you can talk right to it without also owning an Echo — and more than 28,000 products from 4,500 brands that support it. That means you need an Amazon Echo to control the gadget. Amazon also said it has now sold more than 100 million Alexa devices.</p></div>,<div class="group"><p>There's a reason the number of products that support the assistants is skyrocketing.</p><p>Last year, Amazon introduced a developer kit that made it much easier for partners to add Alexa to their devices. It showed this with a <a href="https://www.cnbc.com/2018/11/13/amazon-alexa-microwave-review.html">proof of concept microwave</a> that it now sells. If a partner decides to add Amazon Dash integration, then it can be used to automatically order more supplies when you run low, like more detergent for your Alexa-powered dishwasher. Google also introduced similar tools for developers.</p><p>By pure booth presence alone, Google left the biggest impression on me at CES. I've just never seen a roller coaster in a booth. But, and this was clear walking around the show, more brands and products were on display with Amazon Alexa on board. Some supported both.</p></div>,<div class="group"><p>For consumers, this means that as you shop for new products in the coming years, whether it's a car or TV or a home appliance, you'll probably see Alexa or Google built-in, even if you don't necessarily want to use it. If you do, you'll be able to tell Alexa to start the dishwasher or ask Google to set your oven to 375 degrees.</p><p>And this means that Amazon and Google are becoming nearly omnipresent, whether you want them to be or not. Since Alexa and Google Assistant learn from what you ask of them, that means Amazon and Google will be able to learn more than ever about you and your habits. And for them, that's big business. It gives Amazon the ability to gather data on your purchasing habits and recommend more items you're likely to buy. And Google will learn more about you for its targeted advertising business.</p></div>
Until recently, Amazon and Google competed for presence in our homes through their own gadgets: Smart speakers like the Amazon Echo and Google Home, TV add-ons like Chromecast and Fire TV and even home security systems like Nest and Ring.But, at CES 2019, that competition was brought to a boil as partners from both companies launched dozens of products that will bring Amazon Alexa and Google Assistant into nearly every aspect of our lives.I've been attending CES for more than a decade, and it's always home to all sorts of new doohickeys, from robots to health trackers and the latest in TV technology. While those things were all on display this year, too, I couldn't help but notice the massive presence of Google and Amazon, two companies that didn't even exist at CES a couple of years ago. That's because their smart assistants, the ones you can control by voice, are being built into almost every category of new product that was introduced at CES, from TVs to ovens — even lawnmowers and a toilet.Google tripled the size of its booth this year, where it even had a roller coaster that brought riders through an experience that explained how you can use Google Assistant throughout the day, from getting directions and traffic information to ordering food and snapping a selfie.Amazon had three different booths. There was one for "Key by Amazon," which showed how you can have packages delivered inside your house, into your car and — new this year — into your garage. It also had a booth dedicated to Ring, its home security system, that showed off a range of new products like security cameras and lights. Amazon also had an entire room where it had an array of products from its partners, including smart glasses, coffee machines, ovens and more, all with Alexa built-in.Both firms also revealed how widespread their ecosystems are.Google said that by the end of January, more than 1 billion devices will have Google Assistant built-in. That's up from 500 million in May, but a lot of that growth is because Assistant now ships as a standard feature on Android phones. Google Assistant is also built into 10,000 different smart home devices from more than 1,600 brands, the company said.Amazon said there are now more than 150 products with Alexa built directly in — which means you can talk right to it without also owning an Echo — and more than 28,000 products from 4,500 brands that support it. That means you need an Amazon Echo to control the gadget. Amazon also said it has now sold more than 100 million Alexa devices.There's a reason the number of products that support the assistants is skyrocketing.Last year, Amazon introduced a developer kit that made it much easier for partners to add Alexa to their devices. It showed this with a proof of concept microwave that it now sells. If a partner decides to add Amazon Dash integration, then it can be used to automatically order more supplies when you run low, like more detergent for your Alexa-powered dishwasher. Google also introduced similar tools for developers.By pure booth presence alone, Google left the biggest impression on me at CES. I've just never seen a roller coaster in a booth. But, and this was clear walking around the show, more brands and products were on display with Amazon Alexa on board. Some supported both.For consumers, this means that as you shop for new products in the coming years, whether it's a car or TV or a home appliance, you'll probably see Alexa or Google built-in, even if you don't necessarily want to use it. If you do, you'll be able to tell Alexa to start the dishwasher or ask Google to set your oven to 375 degrees.And this means that Amazon and Google are becoming nearly omnipresent, whether you want them to be or not. Since Alexa and Google Assistant learn from what you ask of them, that means Amazon and Google will be able to learn more than ever about you and your habits. And for them, that's big business. It gives Amazon the ability to gather data on your purchasing habits and recommend more items you're likely to buy. And Google will learn more about you for its targeted advertising business.
2021-10-30 14:11:32.411296
Economists get more bearish on Singapore’s outlook
https://www.cnbc.com/2016/12/13/economists-get-more-bearish-on-singapores-outlook.html
2016-12-14T04:06:02+0000
Leslie Shaffer
CNBC
The outlook for Singapore's economic growth was trimmed yet again, according to an official survey of forecasters released Wednesday. The December survey of professional forecasters, sent out in late November, by the city-state's central bank, the Monetary Authority of Singapore (MAS), found economists turned more bearish since the previous survey. They expected Singapore's economy would grow just 1.5 percent in 2017 on average, down from the September survey's forecast for 1.8 percent and the June survey's projection of 2.1 percent. The latest forecasts for 2017 growth ranged from 0.7 percent to 2.3 percent. The December survey, which had 22 respondents, doesn't reflect the MAS' own forecasts. In a statement released December 2, the MAS said it expected Singapore's gross domestic product (GDP) would rise by 1-3 percent in 2017 after rising an estimated 1.0-1.5 percent in 2016.
cnbc, Articles, US Dollar/Singapore Dollar FX Spot Rate, Asia News, Trade, World economy, Central banking, Jobs, Inflation, Asia Economy, Singapore, World Economy, Central Banks, Singapore Dollar, Business News, Economy, source:tagname:CNBC Asia Source
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<div class="group"><p> The outlook for Singapore's economic growth was trimmed yet again, according to an official survey of forecasters released Wednesday.</p><p> The December survey of professional forecasters, sent out in late November, by the city-state's central bank, the Monetary Authority of Singapore (MAS), found economists turned more bearish since the previous survey. </p><div style="height:100%" class="lazyload-placeholder"></div><p> They expected Singapore's economy would grow just 1.5 percent in 2017 on average, down from the September survey's forecast for 1.8 percent and the June survey's projection of 2.1 percent. </p><p> The latest forecasts for 2017 growth ranged from 0.7 percent to 2.3 percent. </p><p> The December survey, which had 22 respondents, doesn't reflect the MAS' own forecasts.</p><p> In a statement released December 2, the MAS said it expected Singapore's gross domestic product (GDP) would rise by 1-3 percent in 2017 after rising an estimated 1.0-1.5 percent in 2016. </p></div>,<div class="group"><p> Singapore's small, open economy has been buffeted by declines in global trade as well as its exposure to sharp drops in commodity prices. Redundancies in the first nine months of the year hit their highest since the first nine months of 2009, during the global financial crisis, government data earlier this week showed. </p><div style="height:100%" class="lazyload-placeholder"></div><p>The forecasters expected the headline consumer price index (CPI) would rise 1.0 percent next year. </p><p>The survey found the <a href="https://www.cnbc.com/quotes/SGD=">Singapore dollar</a> was expected to weaken further against the greenback, with the average forecast expecting the U.S. dollar to be fetching around 1.465 Singapore dollars at the end of 2017. The forecasts ranged from 1.37 to 1.55 Singapore dollars. At 12:06 p.m. HK/SIN, the greenback was fetching S$1.4255. </p><p> In the survey, the forecasters also cut their outlook for this year's growth to 1.4 percent from 1.8 percent in the September survey. That followed third-quarter growth coming in weaker than expected at 1.1 percent on-year, below the September survey's forecast of 1.7 percent. </p><p> The forecasts for 2016 growth ranged from 1.1 percent to 1.6 percent. </p><p> The economists now expected the finance and insurance sector would grow just 0.5 percent in 2016, down from 2.0 percent in the previous survey. They also cut the wholesale and retail trade growth forecast to 0.1 percent for 2016, down from the September survey's 2.1 percent growth forecast. </p><p> The private consumption growth forecast was cut to 1.4 percent for this year, down from 3.0 percent in the September survey. </p><p> The headline consumer price index was expected to fall 0.5 percent for the full year, with the forecast unchanged from September.</p><p> For the fourth quarter of 2016, economists expected just 0.6 percent on-year growth on average, with a median forecast of 0.8 percent. The forecasts ranged from a 0.6 percent contraction to 1.4 percent growth. </p><br></div>,<div class="group"><p> <br></p><p> <em>—By CNBC.Com's Leslie Shaffer; Follow her on Twitter</em> <a href="https://twitter.com/LeslieShaffer1" target="_blank">@LeslieShaffer1</a><br></p><p> Follow CNBC International on <a href="https://twitter.com/cnbci" target="_blank">Twitter</a> and <a href="https://www.facebook.com/cnbcinternational" target="_blank">Facebook</a>.<br></p></div>
The outlook for Singapore's economic growth was trimmed yet again, according to an official survey of forecasters released Wednesday. The December survey of professional forecasters, sent out in late November, by the city-state's central bank, the Monetary Authority of Singapore (MAS), found economists turned more bearish since the previous survey. They expected Singapore's economy would grow just 1.5 percent in 2017 on average, down from the September survey's forecast for 1.8 percent and the June survey's projection of 2.1 percent. The latest forecasts for 2017 growth ranged from 0.7 percent to 2.3 percent. The December survey, which had 22 respondents, doesn't reflect the MAS' own forecasts. In a statement released December 2, the MAS said it expected Singapore's gross domestic product (GDP) would rise by 1-3 percent in 2017 after rising an estimated 1.0-1.5 percent in 2016. Singapore's small, open economy has been buffeted by declines in global trade as well as its exposure to sharp drops in commodity prices. Redundancies in the first nine months of the year hit their highest since the first nine months of 2009, during the global financial crisis, government data earlier this week showed. The forecasters expected the headline consumer price index (CPI) would rise 1.0 percent next year. The survey found the Singapore dollar was expected to weaken further against the greenback, with the average forecast expecting the U.S. dollar to be fetching around 1.465 Singapore dollars at the end of 2017. The forecasts ranged from 1.37 to 1.55 Singapore dollars. At 12:06 p.m. HK/SIN, the greenback was fetching S$1.4255. In the survey, the forecasters also cut their outlook for this year's growth to 1.4 percent from 1.8 percent in the September survey. That followed third-quarter growth coming in weaker than expected at 1.1 percent on-year, below the September survey's forecast of 1.7 percent. The forecasts for 2016 growth ranged from 1.1 percent to 1.6 percent. The economists now expected the finance and insurance sector would grow just 0.5 percent in 2016, down from 2.0 percent in the previous survey. They also cut the wholesale and retail trade growth forecast to 0.1 percent for 2016, down from the September survey's 2.1 percent growth forecast. The private consumption growth forecast was cut to 1.4 percent for this year, down from 3.0 percent in the September survey. The headline consumer price index was expected to fall 0.5 percent for the full year, with the forecast unchanged from September. For the fourth quarter of 2016, economists expected just 0.6 percent on-year growth on average, with a median forecast of 0.8 percent. The forecasts ranged from a 0.6 percent contraction to 1.4 percent growth. —By CNBC.Com's Leslie Shaffer; Follow her on Twitter @LeslieShaffer1 Follow CNBC International on Twitter and Facebook.
2021-10-30 14:11:32.491090
New York Shouldn't Imitate Ontario's Pensions
https://www.cnbc.com/2013/05/31/new-york-shouldnt-imitate-ontarios-pensions.html
2013-05-31T17:12:25+0000
John Carney
CNBC
One of the biggest mistakes investors in managed funds make is chasing returns. Now, New York City pensions look as if they want to make chasing returns official policy.Larry Schloss, the city's chief investment officer, wants New York to emulate the Ontario teachers pension fund. It's easy to see why. The fund has seen a 9.6 percent return on its investments since 2003, compared with an 8 percent gain in New York's pension funds.What's more, Ontario pays far less in fees to asset managers because it actually makes investment decisions on its own. To do that, it employs real live investment professionals, paying competitive salaries. By contrast, the guys running New York's pension system get paid an average of $100,000 each. Schloss earns just $224,000.He imagines that the city could hire "a VP at MetLife who makes 500,000 bucks." But this is probably unrealistic.
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<div class="group"><p> One of the biggest mistakes investors in managed funds make is chasing returns. Now, New York City pensions look as if they want to make chasing returns official policy.</p><p><span>Larry Schloss, the city's chief investment officer, <a href="http://www.bloomberg.com/news/2013-05-31/nyc-pension-chief-seeks-500-000-managers-not-wall-street.html" target="_blank">wants New York to emulate the Ontario teachers pension fund</a>. It's easy to see why. The fund has seen a 9.6 percent return on its investments since 2003, compared with an 8 percent gain in New York's pension funds.</span><br></p><div style="height:100%" class="lazyload-placeholder"></div><p><span>What's more, Ontario pays far less in fees to asset managers because it actually makes investment decisions on its own. To do that, it employs real live investment professionals, paying competitive salaries. By contrast, the guys running New York's pension system get paid an average of $100,000 each. Schloss earns just $224,000.</span><br></p><p><span>He imagines that the city could hire "a VP at MetLife who makes 500,000 bucks." But this is probably unrealistic.</span></p></div>,<div class="group"><p> New York is just a far more competitive place than Toronto when it comes to top-quality investment professionals. There are more opportunities for making tremendous amounts of money. If you're a New Yorker who can generate consistent 9.6 returns without leverage, you can easily raise money for a hedge fund that will make you a millionaire. </p><p><span>What's more, the Canadian fund has benefited from that country's real estate boom. It owns a lot of assets that have risen in value with the home and commercial real estate market. If Canadian real estate crashes—as some expect it will—the fund performance will probably suffer.</span><br></p><p><span>The average return on the S&amp;P 500 for the past decade is 7.6 percent, which means that a simple index fund could achieve much of the gains that New York's pension funds need to remain solvent. Why compete with Wall Street and hedge funds when you can make perfectly respectable returns passively? </span><br></p><div style="height:100%" class="lazyload-placeholder"></div></div>,<div class="group"><p><em>By CNBC's John Carney. Follow me on Twitter <a href="http://www.twitter.com/carney" class="webresource" target="_blank">@Carney</a></em></p></div>
One of the biggest mistakes investors in managed funds make is chasing returns. Now, New York City pensions look as if they want to make chasing returns official policy.Larry Schloss, the city's chief investment officer, wants New York to emulate the Ontario teachers pension fund. It's easy to see why. The fund has seen a 9.6 percent return on its investments since 2003, compared with an 8 percent gain in New York's pension funds.What's more, Ontario pays far less in fees to asset managers because it actually makes investment decisions on its own. To do that, it employs real live investment professionals, paying competitive salaries. By contrast, the guys running New York's pension system get paid an average of $100,000 each. Schloss earns just $224,000.He imagines that the city could hire "a VP at MetLife who makes 500,000 bucks." But this is probably unrealistic. New York is just a far more competitive place than Toronto when it comes to top-quality investment professionals. There are more opportunities for making tremendous amounts of money. If you're a New Yorker who can generate consistent 9.6 returns without leverage, you can easily raise money for a hedge fund that will make you a millionaire. What's more, the Canadian fund has benefited from that country's real estate boom. It owns a lot of assets that have risen in value with the home and commercial real estate market. If Canadian real estate crashes—as some expect it will—the fund performance will probably suffer.The average return on the S&P 500 for the past decade is 7.6 percent, which means that a simple index fund could achieve much of the gains that New York's pension funds need to remain solvent. Why compete with Wall Street and hedge funds when you can make perfectly respectable returns passively? By CNBC's John Carney. Follow me on Twitter @Carney
2021-10-30 14:11:32.557394
German health minister says the country is considering steps to return to a 'new normal'
https://www.cnbc.com/2020/04/13/german-health-minister-country-considers-how-to-return-to-new-normal.html
2020-04-13T21:08:49+0000
Kevin Stankiewicz
CNBC
Germany is considering how to implement a gradual recovery from the coronavirus pandemic, the country's health minister, Jens Spahn, told CNBC on Monday. "We are thinking about step by step, that is important ... going back to a new normal," Spahn said on "Closing Bell."Spahn, who was speaking from Berlin, stressed that it will indeed be a new normal because "all the measures we have taken like keeping distance, wearing masks, no parties ... are definitely measures that need to be there in place for months to come." But Germany is in a place to begin considering what a recovery looks like because its rate of new infections has continued to slow, Spahn said. He cited the effectiveness of social distancing measures and applauded the country's residents for taking them seriously. There are more than 128,000 confirmed cases of Covid-19 in Germany and around 3,000 deaths, according to Johns Hopkins University. Spahn said the German government is now seeking to find "the right balance" between health and economic considerations. "I would say it's not the health of people versus the economy because they are very much interlinked," Spahn said. "You need a strong economy to have a well-equipped health system, for example. Or unemployment, a recession, is harmful for the mental and physical health of people, too." Germany has received praise, albeit with some caution, for its response to the Covid-19 outbreak. Spahn said he was "humble" but not "overconfident" about how Germany has handled the spread of the coronavirus.He cited the strength of Germany's health-care system, in particular its high number of intensive care unit beds, as one reason why the country was well equipped to respond to the pandemic. The country also placed an early emphasis on testing capacity, Spahn said. He said the the country had a strong network of labs, and he noted that the first diagnostic test for Covid-19 was developed in Germany in January. "It's like pointing a flashlight into the dark," Spahn said of testing. "If you don't do it, you'll just see different shades of gray. With extensive testing, you can really see what's going on. You don't just see the symptomatic cases, but the mild and asymptomatic ones, too." Read all of CNBC's coronavirus coverage here
cnbc, Articles, Coronavirus: Prevention, Health care industry, Germany, Economy, World economy, Coronavirus, Europe News, World Economy, Health & Science, Europe Politics, Europe Economy, Business News, source:tagname:CNBC US Source
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<div class="group"><p>Germany is considering how to implement a gradual recovery from the coronavirus pandemic, the country's health minister, <a href="https://www.bundesregierung.de/breg-en/federal-government/cabinet/jens-spahn" target="_blank">Jens Spahn</a>, told CNBC on Monday. </p><p>"We are thinking about step by step, that is important ... going back to a new normal," Spahn said on "<a href="https://www.cnbc.com/closing-bell/">Closing Bell.</a>"</p><div style="height:100%" class="lazyload-placeholder"></div><p>Spahn, who was speaking from Berlin, stressed that it will indeed be a new normal because "all the measures we have taken like keeping distance, wearing masks, no parties ... are definitely measures that need to be there in place for months to come." </p><p>But Germany is in a place to begin considering what a recovery looks like because its rate of new infections has continued to slow, Spahn said. He cited the effectiveness of social distancing measures and applauded the country's residents for taking them seriously. </p><p>There are more than 128,000 confirmed cases of Covid-19 in Germany and around 3,000 deaths, <a href="https://gisanddata.maps.arcgis.com/apps/opsdashboard/index.html#/bda7594740fd40299423467b48e9ecf6" target="_blank">according to Johns Hopkins University.</a> </p><p>Spahn said the German government is now seeking to find "the right balance" between health and economic considerations. </p><p>"I would say it's not the health of people versus the economy because they are very much interlinked," Spahn said. "You need a strong economy to have a well-equipped health system, for example. Or unemployment, a recession, is harmful for the mental and physical health of people, too." </p><div style="height:100%" class="lazyload-placeholder"></div><p>Germany has <a href="https://www.cnbc.com/2020/04/03/germany-has-a-low-coronavirus-mortality-rate-heres-why.html">received praise,</a> albeit with <a href="https://www.cnbc.com/2020/04/06/germany-is-still-at-the-beginning-of-the-epidemic-health-body.html">some caution</a>, for its response to the Covid-19 outbreak. </p><p>Spahn said he was "humble" but not "overconfident" about how Germany has handled the spread of the coronavirus.</p><p>He cited the strength of Germany's health-care system, in particular its high number of intensive care unit beds, as one reason why the country was well equipped to respond to the pandemic. </p><p>The country also placed an early emphasis on testing capacity, Spahn said. He said the the country had a strong network of labs, and he noted that the first diagnostic test for Covid-19 was <a href="https://apnews.com/78f7c6b4555a28e64dc96d395366290e" target="_blank">developed in Germany in January</a>. </p><p>"It's like pointing a flashlight into the dark," Spahn said of testing. "If you don't do it, you'll just see different shades of gray. With extensive testing, you can really see what's going on. You don't just see the symptomatic cases, but the mild and asymptomatic ones, too." </p><p><em><strong>Read all of CNBC's coronavirus coverage </strong></em><a href="https://www.cnbc.com/coronavirus/"><em><strong>here</strong></em></a></p></div>
Germany is considering how to implement a gradual recovery from the coronavirus pandemic, the country's health minister, Jens Spahn, told CNBC on Monday. "We are thinking about step by step, that is important ... going back to a new normal," Spahn said on "Closing Bell."Spahn, who was speaking from Berlin, stressed that it will indeed be a new normal because "all the measures we have taken like keeping distance, wearing masks, no parties ... are definitely measures that need to be there in place for months to come." But Germany is in a place to begin considering what a recovery looks like because its rate of new infections has continued to slow, Spahn said. He cited the effectiveness of social distancing measures and applauded the country's residents for taking them seriously. There are more than 128,000 confirmed cases of Covid-19 in Germany and around 3,000 deaths, according to Johns Hopkins University. Spahn said the German government is now seeking to find "the right balance" between health and economic considerations. "I would say it's not the health of people versus the economy because they are very much interlinked," Spahn said. "You need a strong economy to have a well-equipped health system, for example. Or unemployment, a recession, is harmful for the mental and physical health of people, too." Germany has received praise, albeit with some caution, for its response to the Covid-19 outbreak. Spahn said he was "humble" but not "overconfident" about how Germany has handled the spread of the coronavirus.He cited the strength of Germany's health-care system, in particular its high number of intensive care unit beds, as one reason why the country was well equipped to respond to the pandemic. The country also placed an early emphasis on testing capacity, Spahn said. He said the the country had a strong network of labs, and he noted that the first diagnostic test for Covid-19 was developed in Germany in January. "It's like pointing a flashlight into the dark," Spahn said of testing. "If you don't do it, you'll just see different shades of gray. With extensive testing, you can really see what's going on. You don't just see the symptomatic cases, but the mild and asymptomatic ones, too." Read all of CNBC's coronavirus coverage here
2021-10-30 14:11:32.659697
25 highest-paid hedge fund managers made $32 billion in 2020, a record
https://www.cnbc.com/2021/02/22/-25-highest-paid-hedge-fund-managers-earned-record-setting-32-billion-in-2020.html
2021-02-22T13:30:41+0000
Robert Frank
CNBC
The 25 highest-paid hedge fund managers made a record $32 billion in 2020, up more than 50% over 2019, according to Institutional Investor's Rich List.A total of 15 hedge fund managers made $1 billion or more, compared with only eight in 2019. The big gains during the coronavirus pandemic, coupled with the public debate over hedge funds in the wake of the GameStop controversy, is likely to draw criticism from lawmakers and the public over hedge fund pay and fairness in financial markets.The top earner was Israel "Izzy" Englander of Millennium Management, earning $3.8 billion. His flagship fund was up 26% last year, which was its best return in 20 years. Like many of the top-performing funds last year, Millennium relies more on stock picking than quantitative strategies using computer algorithms.In second place is Jim Simons of Renaissance Technologies, who earned $2.6 billion. His investors, however, didn't do as well. Renaissance Technologies' three main funds for outside investors were down 20% to 30%, according to report. But its Medallion fund, which is mainly for employees, was up 76%. Simons retired as chairman on Jan. 1.Chase Coleman of Tiger Global came in third place, with a $2.5 billion payday. The fund was an early investor in tech stocks and overseas plays that did well during the pandemic, giving his fund a 48% return. His partner Scott Shleifer, the head of Tiger's private equity business, was tied for eighth with $1.5 billion. Shleifer just bought the most expensive home ever sold in Florida, paying more than $130 million for a newly built mansion in Palm Beach.Ken Griffin of Citadel, who is at the center of the GameStop debate, came in fourth, with $1.8 billion as his fund was up 24%. Steve Cohen of Point72 Asset Management, who owns the Mets, was tied for fifth, along with David Tepper of Appaloosa, both at $1.7 billion.Correction: An earlier version of this story incorrectly attributed Mets ownership.
cnbc, Articles, Business, Investment strategy, Markets, Hedge Funds, Ken Griffin, GameStop Corp, Wealth, Millionaires and Billionaires, Investing, Business News, Private Equity, source:tagname:CNBC US Source
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<div class="group"><p>The 25 highest-paid hedge fund managers made a record $32 billion in 2020, up more than 50% over 2019, according to <a href="https://www.institutionalinvestor.com/article/b1qmsgpxhz0lpt/The-20th-Annual-Rich-List-the-Definitive-Ranking-of-What-Hedge-Fund-Managers-Earned-in-2020" target="_blank">Institutional Investor's Rich List</a>.</p><p>A total of 15 hedge fund managers made $1 billion or more, compared with only eight in 2019. The big gains during the <a href="https://www.cnbc.com/coronavirus/">coronavirus pandemic</a>, coupled with the public debate over <a href="https://www.cnbc.com/2021/02/01/why-the-gamestop-frenzy-may-hurt-retirees-along-with-hedge-funds.html">hedge funds</a> in the wake of the <a href="//www.cnbc.com/quotes/GME" target="_blank">GameStop</a> controversy, is likely to draw criticism from lawmakers and the public over hedge fund pay and fairness in financial markets.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The top earner was Israel "Izzy" Englander of Millennium Management, earning $3.8 billion. His flagship fund was up 26% last year, which was its best return in 20 years. Like many of the top-performing funds last year, Millennium relies more on stock picking than quantitative strategies using computer algorithms.</p><p>In second place is Jim Simons of Renaissance Technologies, who earned $2.6 billion. His investors, however, didn't do as well. Renaissance Technologies' three main funds for outside investors were down 20% to 30%, according to report. But its Medallion fund, which is mainly for employees, was up 76%. Simons <a href="https://www.wsj.com/articles/james-simons-steps-down-as-chairman-ofrenaissance-technologies-11610637320#:~:text=Renaissance%20funds%20open%20to%20outside,previously%20reported%20by%20Institutional%20Investor" target="_blank">retired as chairman</a> on Jan. 1.</p><p>Chase Coleman of Tiger Global came in third place, with a $2.5 billion payday. The fund was an early investor in tech stocks and overseas plays that did well during the pandemic, giving his fund a 48% return. His partner Scott Shleifer, the head of Tiger's private equity business, was tied for eighth with $1.5 billion. Shleifer just bought the most expensive home ever sold in Florida, paying more than $130 million for a newly built mansion in <a href="https://www.cnbc.com/2021/02/16/thriving-palm-beach-scene-draws-fifth-avenue-retailers-during-covid.html">Palm Beach</a>.</p><p><a href="https://www.cnbc.com/ken-griffin/">Ken Griffin</a> of Citadel, who is at the center of the GameStop debate, came in fourth, with $1.8 billion as his fund was up 24%. Steve Cohen of Point72 Asset Management, who owns the Mets, was tied for fifth, along with David Tepper of Appaloosa, both at $1.7 billion.</p><p><em>Correction: An earlier version of this story incorrectly attributed Mets ownership.</em></p></div>
The 25 highest-paid hedge fund managers made a record $32 billion in 2020, up more than 50% over 2019, according to Institutional Investor's Rich List.A total of 15 hedge fund managers made $1 billion or more, compared with only eight in 2019. The big gains during the coronavirus pandemic, coupled with the public debate over hedge funds in the wake of the GameStop controversy, is likely to draw criticism from lawmakers and the public over hedge fund pay and fairness in financial markets.The top earner was Israel "Izzy" Englander of Millennium Management, earning $3.8 billion. His flagship fund was up 26% last year, which was its best return in 20 years. Like many of the top-performing funds last year, Millennium relies more on stock picking than quantitative strategies using computer algorithms.In second place is Jim Simons of Renaissance Technologies, who earned $2.6 billion. His investors, however, didn't do as well. Renaissance Technologies' three main funds for outside investors were down 20% to 30%, according to report. But its Medallion fund, which is mainly for employees, was up 76%. Simons retired as chairman on Jan. 1.Chase Coleman of Tiger Global came in third place, with a $2.5 billion payday. The fund was an early investor in tech stocks and overseas plays that did well during the pandemic, giving his fund a 48% return. His partner Scott Shleifer, the head of Tiger's private equity business, was tied for eighth with $1.5 billion. Shleifer just bought the most expensive home ever sold in Florida, paying more than $130 million for a newly built mansion in Palm Beach.Ken Griffin of Citadel, who is at the center of the GameStop debate, came in fourth, with $1.8 billion as his fund was up 24%. Steve Cohen of Point72 Asset Management, who owns the Mets, was tied for fifth, along with David Tepper of Appaloosa, both at $1.7 billion.Correction: An earlier version of this story incorrectly attributed Mets ownership.
2021-10-30 14:11:32.699002
2 teams in NCAA finals is a good thing. Ask UConn
https://www.cnbc.com/2014/04/07/uconn-ncaa-finals-2-teams-in-ncaa-finals-is-a-good-thing.html
2014-04-07T20:24:50+0000
Adam Molon
CNBC
For the second time in 10 years, the University of Connecticut is sending both its men's and women's basketball teams to the NCAA finals. And that means this year's Huskies squads are again likely to be a boon for the university and its bottom line. "It's infinitely priceless," said Mike Enright, associate director of athletics for communications at UConn, referencing the Huskies' Final Four appearances. "It brings great notoriety for the teams, but it also brings great notoriety for the university." Read MoreBoston's Green Monster goes digital with selfies Enright said that based on observation from the 2004 season, when the Huskies sent both teams to the Final Four and won both championship titles, higher merchandise sales on items like T-shirts and caps will likely be one of the most tangible effects of the increased attention. "We saw a doubling of our money resulting from the licensing of our goods," he said. "We doubled it from approximately half a million to $1 million." Next season's ticket sales and prices could also see a boost, said Chris Matcovich, vice president of data and communications at TiqIQ. "You'll see an initial bump at the beginning of the season for early conference matchups," said Matcovich. "It definitely increases the level of enthusiasm." There may also be an increase in financial contributions from alumni, said UConn's Enright. The school currently has an annual athletics budget of $62 million.
cnbc, Articles, Sports, Higher education, College, College Sports, College Basketball, Business News, Life, source:tagname:CNBC US Source
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<div class="group"><p> For the second time in 10 years, the University of Connecticut is sending both its men's and women's basketball teams to the NCAA finals.</p><p> And that means this year's Huskies squads are again likely to be a boon for the university and its bottom line.</p><div style="height:100%" class="lazyload-placeholder"></div><p> "It's infinitely priceless," said Mike Enright, associate director of athletics for communications at UConn, referencing the Huskies' Final Four appearances. "It brings great notoriety for the teams, but it also brings great notoriety for the university."</p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2014/04/03/green-monster-to-share-social-media-moments-on-wall.html">Boston's Green Monster goes digital with selfies</a><br></p><p> Enright said that based on observation from the 2004 season, when the Huskies sent both teams to the Final Four and won both championship titles, higher merchandise sales on items like T-shirts and caps will likely be one of the most tangible effects of the increased attention.</p><p> "We saw a doubling of our money resulting from the licensing of our goods," he said. "We doubled it from approximately half a million to $1 million."</p><p> Next season's ticket sales and prices could also see a boost, said Chris Matcovich, vice president of data and communications at TiqIQ.</p><div style="height:100%" class="lazyload-placeholder"></div><p> "You'll see an initial bump at the beginning of the season for early conference matchups," said Matcovich. "It definitely increases the level of enthusiasm."</p><p> There may also be an increase in financial contributions from alumni, said UConn's Enright. The school currently has an annual athletics budget of $62 million.</p></div>,<div class="group"><p> Winning brackets may even translate into a larger applicant pool, he said.</p><p> "We always look at athletics as the front door for UConn," said Enright. "We hope that through this a lot of people learn about our university."</p><p> However, David Carter, professor of sports business at the University of Southern California's Marshall School of Business, cautions that any basketball-generated spike in university applications may come with a question mark attached to its quality.</p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2014/04/03/no-paternity-in-baseball-what-it-says-about-manhood.html">There's no paternity in baseball!</a><br></p><p> "You sit back and wonder, 'Gee, if that spike is due to athletic performance, are these students really academically inclined?'" said Carter. "These may not be the kinds of students that these universities really want, and that's a concern that a lot of schools have."</p><p> For UConn, though, such concerns would likely be minor, said Patrick Rishe, associate professor of economics at Webster University. While UConn's tournament wins may boost application numbers slightly, the university won't likely experience the kind of boost that universities with lower profiles have generated through unexpected athletic success. </p></div>,<div class="group"><p> "These spikes are probably going to be larger for schools that have not had that level of success previously," said Rishe. "For instance, the University of Dayton reached the Elite Eight. You would expect schools like that to have spikes because many had not heard of them before."</p><p><span class="label-read-more">Read More</span></p><p> Spikes in university applications and enrollment stemming from athletics has become known as the "Flutie effect," originating with the stunning, Doug Flutie-led football victory for Boston College over the defending national champions, the Miami Hurricanes, in 1984. Boston College reportedly saw a dramatic increase in applications for the following academic year.</p><p> "The Flutie effect only happens when you have a school that is a true Cinderella story, like Butler, George Washington, and VCU," said Rishe, referencing tournament underdogs from recent years. "UConn's women's program is always good, and the men's basketball program has been good for the past 20 years. They're both blue-blood college basketball programs."</p><p><em>—By CNBC's Adam Molon</em></p></div>
For the second time in 10 years, the University of Connecticut is sending both its men's and women's basketball teams to the NCAA finals. And that means this year's Huskies squads are again likely to be a boon for the university and its bottom line. "It's infinitely priceless," said Mike Enright, associate director of athletics for communications at UConn, referencing the Huskies' Final Four appearances. "It brings great notoriety for the teams, but it also brings great notoriety for the university." Read MoreBoston's Green Monster goes digital with selfies Enright said that based on observation from the 2004 season, when the Huskies sent both teams to the Final Four and won both championship titles, higher merchandise sales on items like T-shirts and caps will likely be one of the most tangible effects of the increased attention. "We saw a doubling of our money resulting from the licensing of our goods," he said. "We doubled it from approximately half a million to $1 million." Next season's ticket sales and prices could also see a boost, said Chris Matcovich, vice president of data and communications at TiqIQ. "You'll see an initial bump at the beginning of the season for early conference matchups," said Matcovich. "It definitely increases the level of enthusiasm." There may also be an increase in financial contributions from alumni, said UConn's Enright. The school currently has an annual athletics budget of $62 million. Winning brackets may even translate into a larger applicant pool, he said. "We always look at athletics as the front door for UConn," said Enright. "We hope that through this a lot of people learn about our university." However, David Carter, professor of sports business at the University of Southern California's Marshall School of Business, cautions that any basketball-generated spike in university applications may come with a question mark attached to its quality. Read MoreThere's no paternity in baseball! "You sit back and wonder, 'Gee, if that spike is due to athletic performance, are these students really academically inclined?'" said Carter. "These may not be the kinds of students that these universities really want, and that's a concern that a lot of schools have." For UConn, though, such concerns would likely be minor, said Patrick Rishe, associate professor of economics at Webster University. While UConn's tournament wins may boost application numbers slightly, the university won't likely experience the kind of boost that universities with lower profiles have generated through unexpected athletic success. "These spikes are probably going to be larger for schools that have not had that level of success previously," said Rishe. "For instance, the University of Dayton reached the Elite Eight. You would expect schools like that to have spikes because many had not heard of them before."Read More Spikes in university applications and enrollment stemming from athletics has become known as the "Flutie effect," originating with the stunning, Doug Flutie-led football victory for Boston College over the defending national champions, the Miami Hurricanes, in 1984. Boston College reportedly saw a dramatic increase in applications for the following academic year. "The Flutie effect only happens when you have a school that is a true Cinderella story, like Butler, George Washington, and VCU," said Rishe, referencing tournament underdogs from recent years. "UConn's women's program is always good, and the men's basketball program has been good for the past 20 years. They're both blue-blood college basketball programs."—By CNBC's Adam Molon
2021-10-30 14:11:32.897764
UPDATE 1-Storm Sandy knocks US Oct auto sales below estimates
https://www.cnbc.com/2012/11/01/update-1storm-sandy-knocks-us-oct-auto-sales-below-estimates.html
2012-11-01T19:27:00+0000
null
CNBC
* Sandy caused industry to lose 20,000-25,000 sales -Ford* Industry likely to miss sales estimates for October* Still, GM, Chrysler report best October sales in 5 years* Ford October sales edge up; Toyota's up 16 pct* Ford shares down 1.4 pct, GM down 0.6 pct(Adds results from GM, Ford, Toyota and VW, adds comments by Ford, GM and VW, adds stock prices)DETROIT, Nov 1 (Reuters) - General Motors Co and Chrysler Group LLC both reported their strongest U.S. sales for the month of October since the financial crisis sent both U.S. automakers into bankruptcy, but the destruction of storm Sandy will cause the sector to miss overall sales expectations.Ford Motor Co's sales last month edged up 0.4 percent, while Toyota Motor Corp's sales rose about 16 percent.GM sales rose 4.7 percent to 195,764 vehicles, while those at Chrysler, an affiliate of Italy's Fiat SpA, increased 10 percent to 126,185 vehicles. Both totals were the best either automaker had seen since 2007, before the U.S. economy went into recession and caused a drastic decline in sales that led GM and Chrysler to file for bankruptcy in 2009.Still, results of Ford, Chrysler and Toyota came in below expectations, while GM missed some analysts' estimates, suggesting that the U.S. industry will have a hard time reaching the 14.9 million-vehicle annual sales rate economists had predicted for the month before Sandy pummeled the U.S. East Coast. Auto sales are an early indicator each month of U.S. consumer demand.The massive storm, which hit New York City on Monday evening, hurt U.S. demand at the end of the month, with Ford officials estimating the lost sales for the entire industry at 20,000 to 25,000 vehicles.Ford officials said that would hurt the annual rate by 300,000 vehicles, although analysts have said the industry would likely make up any lost sales in November. GM officials agreed, saying Sandy hurt the annual rate by at least 300,000 vehicles.GM said it sees an October annual sales rate in the range of 14.4 million vehicles. Ford estimates the rate in the high 14 million range including heavy and medium-duty trucks, in line with GM.Volkswagen AG's U.S. operations chief, Jonathan Browning, said the industry would fall short of the 10 to 11 percent gain many had predicted.``This is not yet a full-blown recovery,'' Browning told reporters on a conference call. ``The overall environment is one of improving optimism, but it's still not a strong positive development in terms of the overall economy.'' He added that demand had been choppy in some regions even before Sandy.Before the massive storm hit, analysts had predicted the industry would show an 11 percent sales gain, led by Toyota and Honda Motor Co, which benefited from increased demand for compact cars as gasoline prices remained high across the country.Many automakers still made gains in the month as rising home prices, attractive vehicle financing options and Americans' growing need to replace their aging cars spurred more consumers to showrooms. That bodes well for the future, a top GM executive said.``Year over year, the light vehicle selling rate has increased for eight consecutive quarters without a tailwind from the residential housing sector, but that is starting to change,'' Kurt McNeil, GM's vice president of U.S. sales operations, said in a statement. ``If these trends continue, housing may be the final piece of the puzzle that lifts sales above 15 million units on an annual basis.''Over the last five years, the U.S. auto sector has undergone a wrenching overhaul that led to plant closures, job losses and the government-financed bankruptcy restructurings of GM and Chrysler. Ford also overhauled its U.S. operations, but did not take a government bailout.The October sales report will be the last before Election Day, marking the end of a contentious U.S. presidential race that has repeatedly thrust GM and Chrysler into the spotlight in televised debates, stump speeches and campaign advertisements.The sales report also caps a busy week for the U.S. auto industry, which saw third-quarter profit reports from all three Detroit automakers.GM shares were down 0.6 percent at $25.34 on Thursday morning, while Ford shares were down 1.4 percent at $11.00. The broad S&P 500 Index was up 1 percent.(Additional reporting by Paul Lienert and Deepa Seetharaman in Detroit; editing by Gerald E. McCormick and Matthew Lewis)
cnbc, Articles, Ford Motor Co, Toyota Motor Corp, Europe, New York City, New York, Michigan, Detroit, North America, United States, Italy, Wires, source:tagname:Reuters
https://sc.cnbcfm.com/ap…1804&w=720&h=405
<div class="group"><p>* Sandy caused industry to lose 20,000-25,000 sales -Ford</p><p>* Industry likely to miss sales estimates for October</p><div style="height:100%" class="lazyload-placeholder"></div><p>* Still, GM, Chrysler report best October sales in 5 years</p><p>* Ford October sales edge up; Toyota's up 16 pct</p><p>* Ford shares down 1.4 pct, GM down 0.6 pct</p><p>(Adds results from GM, Ford, Toyota and VW, adds comments by Ford, GM and VW, adds stock prices)</p><p>DETROIT, Nov 1 (Reuters) - General Motors Co and Chrysler Group LLC both reported their strongest U.S. sales for the month of October since the financial crisis sent both U.S. automakers into bankruptcy, but the destruction of storm Sandy will cause the sector to miss overall sales expectations.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Ford Motor Co's sales last month edged up 0.4 percent, while Toyota Motor Corp's sales rose about 16 percent.</p><p>GM sales rose 4.7 percent to 195,764 vehicles, while those at Chrysler, an affiliate of Italy's Fiat SpA, increased 10 percent to 126,185 vehicles. Both totals were the best either automaker had seen since 2007, before the U.S. economy went into recession and caused a drastic decline in sales that led GM and Chrysler to file for bankruptcy in 2009.</p><p>Still, results of Ford, Chrysler and Toyota came in below expectations, while GM missed some analysts' estimates, suggesting that the U.S. industry will have a hard time reaching the 14.9 million-vehicle annual sales rate economists had predicted for the month before Sandy pummeled the U.S. East Coast. Auto sales are an early indicator each month of U.S. consumer demand.</p><p>The massive storm, which hit New York City on Monday evening, hurt U.S. demand at the end of the month, with Ford officials estimating the lost sales for the entire industry at 20,000 to 25,000 vehicles.</p><p>Ford officials said that would hurt the annual rate by 300,000 vehicles, although analysts have said the industry would likely make up any lost sales in November. GM officials agreed, saying Sandy hurt the annual rate by at least 300,000 vehicles.</p><p>GM said it sees an October annual sales rate in the range of 14.4 million vehicles. Ford estimates the rate in the high 14 million range including heavy and medium-duty trucks, in line with GM.</p><p>Volkswagen AG's U.S. operations chief, Jonathan Browning, said the industry would fall short of the 10 to 11 percent gain many had predicted.</p><p>``This is not yet a full-blown recovery,'' Browning told reporters on a conference call. ``The overall environment is one of improving optimism, but it's still not a strong positive development in terms of the overall economy.'' He added that demand had been choppy in some regions even before Sandy.</p><p>Before the massive storm hit, analysts had predicted the industry would show an 11 percent sales gain, led by Toyota and Honda Motor Co, which benefited from increased demand for compact cars as gasoline prices remained high across the country.</p><p>Many automakers still made gains in the month as rising home prices, attractive vehicle financing options and Americans' growing need to replace their aging cars spurred more consumers to showrooms. That bodes well for the future, a top GM executive said.</p><p>``Year over year, the light vehicle selling rate has increased for eight consecutive quarters without a tailwind from the residential housing sector, but that is starting to change,'' Kurt McNeil, GM's vice president of U.S. sales operations, said in a statement. ``If these trends continue, housing may be the final piece of the puzzle that lifts sales above 15 million units on an annual basis.''</p><p>Over the last five years, the U.S. auto sector has undergone a wrenching overhaul that led to plant closures, job losses and the government-financed bankruptcy restructurings of GM and Chrysler. Ford also overhauled its U.S. operations, but did not take a government bailout.</p><p>The October sales report will be the last before Election Day, marking the end of a contentious U.S. presidential race that has repeatedly thrust GM and Chrysler into the spotlight in televised debates, stump speeches and campaign advertisements.</p><p>The sales report also caps a busy week for the U.S. auto industry, which saw third-quarter profit reports from all three Detroit automakers.</p><p>GM shares were down 0.6 percent at $25.34 on Thursday morning, while Ford shares were down 1.4 percent at $11.00. The broad S&amp;P 500 Index was up 1 percent.</p><p>(Additional reporting by Paul Lienert and Deepa Seetharaman in Detroit; editing by Gerald E. McCormick and Matthew Lewis)</p></div>
* Sandy caused industry to lose 20,000-25,000 sales -Ford* Industry likely to miss sales estimates for October* Still, GM, Chrysler report best October sales in 5 years* Ford October sales edge up; Toyota's up 16 pct* Ford shares down 1.4 pct, GM down 0.6 pct(Adds results from GM, Ford, Toyota and VW, adds comments by Ford, GM and VW, adds stock prices)DETROIT, Nov 1 (Reuters) - General Motors Co and Chrysler Group LLC both reported their strongest U.S. sales for the month of October since the financial crisis sent both U.S. automakers into bankruptcy, but the destruction of storm Sandy will cause the sector to miss overall sales expectations.Ford Motor Co's sales last month edged up 0.4 percent, while Toyota Motor Corp's sales rose about 16 percent.GM sales rose 4.7 percent to 195,764 vehicles, while those at Chrysler, an affiliate of Italy's Fiat SpA, increased 10 percent to 126,185 vehicles. Both totals were the best either automaker had seen since 2007, before the U.S. economy went into recession and caused a drastic decline in sales that led GM and Chrysler to file for bankruptcy in 2009.Still, results of Ford, Chrysler and Toyota came in below expectations, while GM missed some analysts' estimates, suggesting that the U.S. industry will have a hard time reaching the 14.9 million-vehicle annual sales rate economists had predicted for the month before Sandy pummeled the U.S. East Coast. Auto sales are an early indicator each month of U.S. consumer demand.The massive storm, which hit New York City on Monday evening, hurt U.S. demand at the end of the month, with Ford officials estimating the lost sales for the entire industry at 20,000 to 25,000 vehicles.Ford officials said that would hurt the annual rate by 300,000 vehicles, although analysts have said the industry would likely make up any lost sales in November. GM officials agreed, saying Sandy hurt the annual rate by at least 300,000 vehicles.GM said it sees an October annual sales rate in the range of 14.4 million vehicles. Ford estimates the rate in the high 14 million range including heavy and medium-duty trucks, in line with GM.Volkswagen AG's U.S. operations chief, Jonathan Browning, said the industry would fall short of the 10 to 11 percent gain many had predicted.``This is not yet a full-blown recovery,'' Browning told reporters on a conference call. ``The overall environment is one of improving optimism, but it's still not a strong positive development in terms of the overall economy.'' He added that demand had been choppy in some regions even before Sandy.Before the massive storm hit, analysts had predicted the industry would show an 11 percent sales gain, led by Toyota and Honda Motor Co, which benefited from increased demand for compact cars as gasoline prices remained high across the country.Many automakers still made gains in the month as rising home prices, attractive vehicle financing options and Americans' growing need to replace their aging cars spurred more consumers to showrooms. That bodes well for the future, a top GM executive said.``Year over year, the light vehicle selling rate has increased for eight consecutive quarters without a tailwind from the residential housing sector, but that is starting to change,'' Kurt McNeil, GM's vice president of U.S. sales operations, said in a statement. ``If these trends continue, housing may be the final piece of the puzzle that lifts sales above 15 million units on an annual basis.''Over the last five years, the U.S. auto sector has undergone a wrenching overhaul that led to plant closures, job losses and the government-financed bankruptcy restructurings of GM and Chrysler. Ford also overhauled its U.S. operations, but did not take a government bailout.The October sales report will be the last before Election Day, marking the end of a contentious U.S. presidential race that has repeatedly thrust GM and Chrysler into the spotlight in televised debates, stump speeches and campaign advertisements.The sales report also caps a busy week for the U.S. auto industry, which saw third-quarter profit reports from all three Detroit automakers.GM shares were down 0.6 percent at $25.34 on Thursday morning, while Ford shares were down 1.4 percent at $11.00. The broad S&P 500 Index was up 1 percent.(Additional reporting by Paul Lienert and Deepa Seetharaman in Detroit; editing by Gerald E. McCormick and Matthew Lewis)
2021-10-30 14:11:32.936146
AGL Energy Eyes Deal with Macquarie for AlintaAGL
https://www.cnbc.com/2007/05/03/agl-energy-eyes-deal-with-macquarie-for-alintaagl.html
2007-05-04T02:46:24+0000
null
CNBC
AGL Energy, Australia's largest energy retailer, said on Friday it would team up with Macquarie Bank to acquire the 67% of the AlintaAGL retail business it does not own, if Macquarie makes a revised bid for Alinta.Macquarie's first offer for energy infrastructure group Alinta was trumped in March by investment firm Babcock & Brown's A$7.4 billion (US$6.1 billion) cash and stock proposal, which was recommended by Alinta's board. AGL said in a statement that it was also negotiating with Babcock & Brown to acquire the retail business, but stated that it has not entered an agreement with either party. AlintaAGL, spun off in an asset swap deal between AGL and Alinta last year, is a joint venture company that holds Alinta's Western Australia retail and generation businesses. Macquarie Bank said in a separate statement that it was still considering acquiring Alinta, which had put itself up for sale after receiving a management buyout proposal in January. Local media reported on Friday that Macquarie was close to submitting a revised A$15.45 a share, all-cash offer for Alinta.  Macquarie's first offer in March was a A$15.45 per share cash and scrip bid. Alinta's board had rejected the proposal, saying  the deal included shares in an untested new vehicle. Under the agreement with AGL, Macquarie would sell to AGL the AlintaAGL power retailing business AGL does not already own in exchange for AGL agreeing to sell to Macquarie its interests in several Alinta generators, according to newspaper reports. Macquarie may be planning to use the proceeds of any AGL deal, which could be about A$400 million, to fund a cash return to Alinta shareholders as part of a sweetened offer. A source familiar with the situation said there was a Friday deadline for Macquarie to return information it had access to on Alinta, but that did not mean it had to submit an offer by Friday. Another source said Macquarie was still working on finalizing an underwriting package for a bid. Babcock offered Alinta shareholders A$8.50 in cash per share as well as 7.83 shares of Babcock & Brown Infrastructure, 1.30 shares of Babcock & Brown Wind, 3.31 shares of Babcock & Brown Power and 1.51 Australia Pipeline Trust units for every five Alinta shares. In a bid to sweeten the deal, Babcock, which has teamed up with state-owned utility Singapore Power, said on April 16 it would offer shareholders with 1,000 Alinta shares or less the opportunity to receive all cash.
cnbc, Articles, Business News, Economy, US Economy, US: News, source:tagname:Reuters
https://sc.cnbcfm.com/ap…1804&w=720&h=405
<div class="group"><p><strong>AGL Energy</strong>, Australia's largest energy retailer, said on Friday it would team up with <strong>Macquarie Bank</strong> to acquire the 67% of the <strong>AlintaAGL </strong>retail business it does not own, if Macquarie makes a revised bid for Alinta.</p><p>Macquarie's first offer for energy infrastructure group Alinta was trumped in March by investment firm <strong>Babcock &amp; Brown's </strong>A$7.4 billion (US$6.1 billion) cash and stock proposal, which was recommended by Alinta's board. </p><div style="height:100%" class="lazyload-placeholder"></div><p>AGL said in a statement that it was also negotiating with Babcock &amp; Brown to acquire the retail business, but stated that it has not entered an agreement with either party. </p><p>AlintaAGL, spun off in an asset swap deal between AGL and Alinta last year, is a joint venture company that holds Alinta's Western Australia retail and generation businesses. </p><p>Macquarie Bank said in a separate statement that it was still considering acquiring Alinta, which had put itself up for sale after receiving a management buyout proposal in January. </p><p>Local media reported on Friday that Macquarie was close to submitting a revised A$15.45 a share, all-cash offer for Alinta.  </p><p>Macquarie's first offer in March was a A$15.45 per share cash and scrip bid. Alinta's board had rejected the proposal, saying  the deal included shares in an untested new vehicle. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Under the agreement with AGL, Macquarie would sell to AGL the AlintaAGL power retailing business AGL does not already own in exchange for AGL agreeing to sell to Macquarie its interests in several Alinta generators, according to newspaper reports. </p><p>Macquarie may be planning to use the proceeds of any AGL deal, which could be about A$400 million, to fund a cash return to Alinta shareholders as part of a sweetened offer. </p><p>A source familiar with the situation said there was a Friday deadline for Macquarie to return information it had access to on Alinta, but that did not mean it had to submit an offer by Friday. </p><p>Another source said Macquarie was still working on finalizing an underwriting package for a bid. </p><p>Babcock offered Alinta shareholders A$8.50 in cash per share as well as 7.83 shares of Babcock &amp; Brown Infrastructure, 1.30 shares of Babcock &amp; Brown Wind, 3.31 shares of Babcock &amp; Brown Power and 1.51 Australia Pipeline Trust units for every five Alinta shares. </p><p>In a bid to sweeten the deal, Babcock, which has teamed up with state-owned utility Singapore Power, said on April 16 it would offer shareholders with 1,000 Alinta shares or less the opportunity to receive all cash. </p></div>
AGL Energy, Australia's largest energy retailer, said on Friday it would team up with Macquarie Bank to acquire the 67% of the AlintaAGL retail business it does not own, if Macquarie makes a revised bid for Alinta.Macquarie's first offer for energy infrastructure group Alinta was trumped in March by investment firm Babcock & Brown's A$7.4 billion (US$6.1 billion) cash and stock proposal, which was recommended by Alinta's board. AGL said in a statement that it was also negotiating with Babcock & Brown to acquire the retail business, but stated that it has not entered an agreement with either party. AlintaAGL, spun off in an asset swap deal between AGL and Alinta last year, is a joint venture company that holds Alinta's Western Australia retail and generation businesses. Macquarie Bank said in a separate statement that it was still considering acquiring Alinta, which had put itself up for sale after receiving a management buyout proposal in January. Local media reported on Friday that Macquarie was close to submitting a revised A$15.45 a share, all-cash offer for Alinta.  Macquarie's first offer in March was a A$15.45 per share cash and scrip bid. Alinta's board had rejected the proposal, saying  the deal included shares in an untested new vehicle. Under the agreement with AGL, Macquarie would sell to AGL the AlintaAGL power retailing business AGL does not already own in exchange for AGL agreeing to sell to Macquarie its interests in several Alinta generators, according to newspaper reports. Macquarie may be planning to use the proceeds of any AGL deal, which could be about A$400 million, to fund a cash return to Alinta shareholders as part of a sweetened offer. A source familiar with the situation said there was a Friday deadline for Macquarie to return information it had access to on Alinta, but that did not mean it had to submit an offer by Friday. Another source said Macquarie was still working on finalizing an underwriting package for a bid. Babcock offered Alinta shareholders A$8.50 in cash per share as well as 7.83 shares of Babcock & Brown Infrastructure, 1.30 shares of Babcock & Brown Wind, 3.31 shares of Babcock & Brown Power and 1.51 Australia Pipeline Trust units for every five Alinta shares. In a bid to sweeten the deal, Babcock, which has teamed up with state-owned utility Singapore Power, said on April 16 it would offer shareholders with 1,000 Alinta shares or less the opportunity to receive all cash.
2021-10-30 14:11:33.220240
Raytheon and United Technologies agree to all-stock merger that would create aerospace behemoth
https://www.cnbc.com/2019/06/09/raytheon-and-united-technologies-agree-to-all-stock-merger-of-equals.html
2019-06-09T20:35:14+0000
Leslie Josephs
CNBC
Raytheon and United Technologies on Sunday announced they would merge in an all-stock deal, a tie-up that would create a behemoth in the fast-growing defense and aerospace sectors.The combination would bring together United Technologies booming aerospace business that makes everything from jet engines, cockpit controls and airplane seats with Tomahawk missile maker Raytheon.The companies would have combined annual sales of around $74 billion, the companies said. That would make the new company, which they are planning to call Raytheon Technologies, the second-largest aerospace and defense company in the U.S. by revenue, behind Boeing."The combination of United Technologies and Raytheon will define the future of aerospace and defense," United Technologies chairman and CEO Greg Hayes said in a release. "By joining forces, we will have unsurpassed technology and expanded R&D capabilities that will allow us to invest through business cycles and address our customers' highest priorities."United Technologies has reaped the benefits from searing global aircraft demand and has been beefing up its commercial aerospace business, which includes jet engine maker Pratt and Whitney. In November 2018, it closed its acquisition of Rockwell Collins.The two companies have little overlap and may not face strong regulatory push-back to their deal, said Richard Aboulafia, aerospace analyst at Teal Group.The new company would be headquartered in the Boston area, the two firms said in the release. Raytheon is based in Waltham, Mass., a Boston suburb.If completed, shareholders in Farmington, Conn.-based United Technologies would own 57% of the new company while Raytheon's would own 43% on a diluted basis.The deal, which the two companies called a "merger of equals," is expected to close in the first half of 2020, they said.Like other industrial conglomerates, United Technologies shedding businesses to focus on highly profitable units. It is the middle of spinning its Otis elevator business and its Carrier air conditioning unit into separate companies. The merger with Raytheon wouldn't affect that process and it is still on track to close in the first half of 2020, the companies said Sunday.United Technologies' chief executive Hayes would become CEO of the combined company, and Raytheon's CEO Thomas Kennedy would become chairman. Two years after the deal closes Hayes would become chairman.Raytheon and United Technologies have a combined market value of nearly $166 billion. Raytheon shareholders will get 2.3348 shares in the new company for each Raytheon share, the firms said.
cnbc, Articles, Travel, Politics, Boeing Co, Transportation, Business, Airlines, Aerospace and defense industry, Raytheon Co, Raytheon Technologies Corp, Breaking News: Business, Business News, Mergers, Industrials, Aerospace & Defense, source:tagname:CNBC US Source
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<div class="group"><p><a href="//www.cnbc.com/quotes/RTN" target="_blank">Raytheon</a> and <a href="//www.cnbc.com/quotes/RTX" target="_blank">United Technologies</a> on Sunday announced they would merge in an all-stock deal, a tie-up that would create a behemoth in the fast-growing defense and aerospace sectors.</p><p>The combination would bring together United Technologies booming aerospace business that makes everything from jet engines, cockpit controls and airplane seats with Tomahawk missile maker Raytheon.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The companies would have combined annual sales of around $74 billion, the companies said. That would make the new company, which they are planning to call Raytheon Technologies, the second-largest aerospace and defense company in the U.S. by revenue, behind <a href="//www.cnbc.com/quotes/BA" target="_blank">Boeing</a>.</p><p>"The combination of United Technologies and Raytheon will define the future of aerospace and defense," United Technologies chairman and CEO Greg Hayes said in a release. "By joining forces, we will have unsurpassed technology and expanded R&amp;D capabilities that will allow us to invest through business cycles and address our customers' highest priorities."</p><p>United Technologies has reaped the benefits from searing global aircraft demand and has been beefing up its commercial aerospace business, which includes jet engine maker Pratt and Whitney. In November 2018, it closed its acquisition of Rockwell Collins.</p><p>The two companies have little overlap and may not face strong regulatory push-back to their deal, said Richard Aboulafia, aerospace analyst at Teal Group.</p><p>The new company would be headquartered in the Boston area, the two firms said in the release. Raytheon is based in Waltham, Mass., a Boston suburb.</p><div style="height:100%" class="lazyload-placeholder"></div><p>If completed, shareholders in Farmington, Conn.-based United Technologies would own 57% of the new company while Raytheon's would own 43% on a diluted basis.</p><p>The deal, which the two companies called a "merger of equals," is expected to close in the first half of 2020, they said.</p><p>Like other industrial conglomerates, United Technologies shedding businesses to focus on highly profitable units. It is the middle of spinning its Otis elevator business and its Carrier air conditioning unit into separate companies. The merger with Raytheon wouldn't affect that process and it is still on track to close in the first half of 2020, the companies said Sunday.</p><p>United Technologies' chief executive Hayes would become CEO of the combined company, and Raytheon's CEO Thomas Kennedy would become chairman. Two years after the deal closes Hayes would become chairman.</p><p>Raytheon and United Technologies have a combined market value of nearly $166 billion. Raytheon shareholders will get 2.3348 shares in the new company for each Raytheon share, the firms said.</p></div>
Raytheon and United Technologies on Sunday announced they would merge in an all-stock deal, a tie-up that would create a behemoth in the fast-growing defense and aerospace sectors.The combination would bring together United Technologies booming aerospace business that makes everything from jet engines, cockpit controls and airplane seats with Tomahawk missile maker Raytheon.The companies would have combined annual sales of around $74 billion, the companies said. That would make the new company, which they are planning to call Raytheon Technologies, the second-largest aerospace and defense company in the U.S. by revenue, behind Boeing."The combination of United Technologies and Raytheon will define the future of aerospace and defense," United Technologies chairman and CEO Greg Hayes said in a release. "By joining forces, we will have unsurpassed technology and expanded R&D capabilities that will allow us to invest through business cycles and address our customers' highest priorities."United Technologies has reaped the benefits from searing global aircraft demand and has been beefing up its commercial aerospace business, which includes jet engine maker Pratt and Whitney. In November 2018, it closed its acquisition of Rockwell Collins.The two companies have little overlap and may not face strong regulatory push-back to their deal, said Richard Aboulafia, aerospace analyst at Teal Group.The new company would be headquartered in the Boston area, the two firms said in the release. Raytheon is based in Waltham, Mass., a Boston suburb.If completed, shareholders in Farmington, Conn.-based United Technologies would own 57% of the new company while Raytheon's would own 43% on a diluted basis.The deal, which the two companies called a "merger of equals," is expected to close in the first half of 2020, they said.Like other industrial conglomerates, United Technologies shedding businesses to focus on highly profitable units. It is the middle of spinning its Otis elevator business and its Carrier air conditioning unit into separate companies. The merger with Raytheon wouldn't affect that process and it is still on track to close in the first half of 2020, the companies said Sunday.United Technologies' chief executive Hayes would become CEO of the combined company, and Raytheon's CEO Thomas Kennedy would become chairman. Two years after the deal closes Hayes would become chairman.Raytheon and United Technologies have a combined market value of nearly $166 billion. Raytheon shareholders will get 2.3348 shares in the new company for each Raytheon share, the firms said.
2021-10-30 14:11:33.266334
House Foreign Affairs chairman blasts Trump administration for report on Soleimani killing
https://www.cnbc.com/2020/02/14/trump-administration-issues-report-on-soleimani-killing.html
2020-02-14T16:54:58+0000
Dan Mangan
CNBC
The chairman of the House Foreign Affairs Committee on Friday blasted the Trump administration for claiming in a new report that it had authority to order the controversial killing last month of Iranian Gen. Qasem Soleimani in Iraq under Congress' authorization in 2002 for the use of military force against Iraq.Rep. Eliot Engel, D-N.Y., the committee's chairman, argued that the administration's new report to Congress about the Jan. 3 attack on Soleimani "directly contradicts the President's false assertion that he attacked Iran to prevent an imminent attack against United States personnel and embassies.""The administration's explanation in this report makes no mention of any imminent threat and shows that the justification the President offered to the American people was false, plain and simple," said Engel in a prepared statement.He and other Democrats already were skeptical about President Donald Trump's legal rationale for the attack without prior authorization from Congress.The administration's report made public Friday says that Trump "directed this action in response to an escalating series of attacks in preceding months by Iran and Iran-back militias on United States forces and interests in the Middle East region."The report also said that the attack on Soleimani at Baghdad's airport was "consistent with" a "longstanding interpretation of the President's authority" under both Article II of the Constitution and the 2002 authorization of use of force in Iraq.Engel, in his statement, called that argument "absurd.""To make matters worse, to avoid having to justify its actions to Congress, the administration falsely claims Congress had already authorized the strike under the 2002 Iraq war resolution," Engel said."This legal theory is absurd. The 2002 authorization was passed to deal with Saddam Hussein," he said. "This law had nothing to do with Iran or Iranian government officials in Iraq."The chairman added, "To suggest that 18 years later this authorization could justify killing an Iranian official stretches the law far beyond anything Congress ever intended. I was pleased to join many of my colleagues in voting to repeal the outdated Iraq war authorization, and I hope the Senate will follow suit."In its report, the administration said the purpose of the attack on Soleimani was "to protect United States personnel, to deter Iran from conducting or supporting further attacks against United States forces and interests, to degrade Iran's and [its] Qods Force-backed militias' ability to conduct attacks, and to end Iran's strategic escalation of attacks on, and threats to U.S. interests."At the time of his death, Soleimani, 62, was commander of Iran's Quds Force, the foreign operations wing of the elite paramilitary Islamic Revolutionary Guard Corps.Trump administration officials said after the strike that Soleimani had been planning imminent attacks on Americans and as a result had to be stopped.A week after his killing, Secretary of State Mike Pompeo said, "There was no doubt that there were a series of imminent attacks that were being plotted by Qasem Soleimani."But Pompeo, in an interview with Fox News, added, "We don't know precisely when and we don't know precisely where, but it was real," Pompeo said in an interview that aired Thursday night on Fox News.NBC News reported in mid-January that Trump authorized Soleimani's killing seven months before he actually was killed."The presidential directive in June came with the condition that Trump would have final signoff on any specific operation to kill Soleimani," NBC reported, citing five current and former senior administration officials.NBC News noted that the timing of that directive "could undermine" the administration's already publicly stated rationale for the killing.
cnbc, Articles, Iraq, Iran, Mike Pompeo, Saddam Hussein, National security, Eliot Engel, Foreign policy, Qassim Soleimani, Defense, Breaking News: Politics, Politics, Donald Trump, US: News, White House, Congress, Wars and Military Conflicts, Guns and Weapons, source:tagname:CNBC US Source
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<div class="group"><p>The chairman of the House Foreign Affairs Committee on Friday blasted the Trump administration for claiming in a new report that it had authority to order the <a href="https://www.cnbc.com/2020/01/03/who-was-iranian-general-qasem-soleimani-and-why-his-killing-matters.html">controversial killing last month of Iranian Gen. Qasem Soleimani in Iraq</a> under Congress' authorization in 2002 for the use of military force against Iraq.</p><p>Rep. Eliot Engel, D-N.Y., the committee's chairman, argued that the <a href="https://foreignaffairs.house.gov/_cache/files/4/3/4362ca46-3a7d-43e8-a3ec-be0245705722/6E1A0F30F9204E380A7AD0C84EC572EC.doc148.pdf" target="_blank">administration's new report to Congress</a> about <a href="https://www.cnbc.com/2020/01/03/top-iranian-general-qassim-soleimani-killed-in-us-airstrike-in-baghdad-pentagon.html">the Jan. 3 attack on Soleimani</a> "directly contradicts <a href="https://www.cnbc.com/2020/01/08/trump-administration-briefs-congress-on-soleimani-killing-democrats-say-case-was-profoundly-unconvincing.html">the President's false assertion that he attacked Iran to prevent an imminent attack</a> against United States personnel and embassies."</p><div style="height:100%" class="lazyload-placeholder"></div><p>"The administration's explanation in this report makes no mention of any imminent threat and shows that the justification the President offered to the American people was false, plain and simple," <a href="https://foreignaffairs.house.gov/2020/2/engel-statement-on-the-white-house-s-latest-justification-for-soleimani-killing" target="_blank">said Engel in a prepared statement.</a></p><p>He and other Democrats already were skeptical about President <a href="https://www.cnbc.com/donald-trump/">Donald Trump</a>'s legal rationale for the attack without prior authorization from Congress.</p><p>The administration's report made public Friday says that Trump "directed this action in response to an escalating series of attacks in preceding months by Iran and Iran-back militias on United States forces and interests in the Middle East region."</p><p>The report also said that the attack on Soleimani at Baghdad's airport was "consistent with" a "longstanding interpretation of the President's authority" under both Article II of the Constitution and the 2002 authorization of use of force in Iraq.</p><p>Engel, in his statement, called that argument "absurd."</p><div style="height:100%" class="lazyload-placeholder"></div><p>"To make matters worse, to avoid having to justify its actions to Congress, the administration falsely claims Congress had already authorized the strike under the 2002 Iraq war resolution," Engel said.</p><p>"This legal theory is absurd. The 2002 authorization was passed to deal with Saddam Hussein," he said. "This law had nothing to do with Iran or Iranian government officials in Iraq."</p><p>The chairman added, "To suggest that 18 years later this authorization could justify killing an Iranian official stretches the law far beyond anything Congress ever intended. I was pleased to join many of my colleagues in voting to repeal the outdated Iraq war authorization, and I hope the Senate will follow suit."</p><p>In its report, the administration said the purpose of the attack on Soleimani was "to protect United States personnel, to deter Iran from conducting or supporting further attacks against United States forces and interests, to degrade Iran's and [its] Qods Force-backed militias' ability to conduct attacks, and to end Iran's strategic escalation of attacks on, and threats to U.S. interests."</p><p><a href="https://www.cnbc.com/2020/01/03/qasem-soleimani-death-world-responds-to-us-assassination-of-irans-top-general.html">At the time of his death</a>, Soleimani, 62, was commander of Iran's Quds Force, the foreign operations wing of the elite paramilitary Islamic Revolutionary Guard Corps.</p><p>Trump administration officials said after the strike that Soleimani had been planning imminent attacks on Americans and as a result had to be stopped.</p><p><a href="https://www.cnbc.com/2020/01/10/pompeo-we-dont-know-precisely-when-or-where-soleimani-planned-to-attack.html">A week after his killing</a>, Secretary of State Mike Pompeo said, "There was no doubt that there were a series of imminent attacks that were being plotted by Qasem Soleimani."</p><p>But Pompeo, in an interview with Fox News, added, "We don't know precisely when and we don't know precisely where, but it was real," Pompeo said in an interview that aired Thursday night on Fox News.</p><p><a href="https://www.nbcnews.com/politics/national-security/trump-authorized-soleimani-s-killing-7-months-ago-conditions-n1113271" target="_blank">NBC News reported in mid-January that Trump</a> authorized Soleimani's killing seven months before he actually was killed.</p><p>"The presidential directive in June came with the condition that Trump would have final signoff on any specific operation to kill Soleimani," NBC reported, citing five current and former senior administration officials.</p><p>NBC News noted that the timing of that directive "could undermine" the administration's already publicly stated rationale for the killing.</p></div>,<div class="group"><p>The administration's report on Friday said that Article II of the Constitution empowers the president, as commander in chief, "to direct the use of military force to protect the Nation from an attack or threat of imminent attack and to protect important national interests."</p><p>"Article II thus authorized the President to use force against the forces of Iran, a state responsible for conducting and directing attacks against United States forces in the region," the report argued.</p><p>The report also said that under the 2002 Authorization for Use of Military Force Against Iraq, the president has the power to use American military forces "as he determines to be necessary and appropriate" in order to defend U.S. national security against the threat posed by Iraq.</p><p>While Iraq's late leader Saddam Hussein was the initial focus of that statute, the report notes, the statute long has been used to "authorize the use of force for the purpose of establishing a stable, democratic Iraq and addressing terrorist threats emanating from Iraq."</p><p>Such uses of force can address "threats to the United States posed by militias, terrorist groups, or other armed groups in Iraq," the report said.</p></div>
The chairman of the House Foreign Affairs Committee on Friday blasted the Trump administration for claiming in a new report that it had authority to order the controversial killing last month of Iranian Gen. Qasem Soleimani in Iraq under Congress' authorization in 2002 for the use of military force against Iraq.Rep. Eliot Engel, D-N.Y., the committee's chairman, argued that the administration's new report to Congress about the Jan. 3 attack on Soleimani "directly contradicts the President's false assertion that he attacked Iran to prevent an imminent attack against United States personnel and embassies.""The administration's explanation in this report makes no mention of any imminent threat and shows that the justification the President offered to the American people was false, plain and simple," said Engel in a prepared statement.He and other Democrats already were skeptical about President Donald Trump's legal rationale for the attack without prior authorization from Congress.The administration's report made public Friday says that Trump "directed this action in response to an escalating series of attacks in preceding months by Iran and Iran-back militias on United States forces and interests in the Middle East region."The report also said that the attack on Soleimani at Baghdad's airport was "consistent with" a "longstanding interpretation of the President's authority" under both Article II of the Constitution and the 2002 authorization of use of force in Iraq.Engel, in his statement, called that argument "absurd.""To make matters worse, to avoid having to justify its actions to Congress, the administration falsely claims Congress had already authorized the strike under the 2002 Iraq war resolution," Engel said."This legal theory is absurd. The 2002 authorization was passed to deal with Saddam Hussein," he said. "This law had nothing to do with Iran or Iranian government officials in Iraq."The chairman added, "To suggest that 18 years later this authorization could justify killing an Iranian official stretches the law far beyond anything Congress ever intended. I was pleased to join many of my colleagues in voting to repeal the outdated Iraq war authorization, and I hope the Senate will follow suit."In its report, the administration said the purpose of the attack on Soleimani was "to protect United States personnel, to deter Iran from conducting or supporting further attacks against United States forces and interests, to degrade Iran's and [its] Qods Force-backed militias' ability to conduct attacks, and to end Iran's strategic escalation of attacks on, and threats to U.S. interests."At the time of his death, Soleimani, 62, was commander of Iran's Quds Force, the foreign operations wing of the elite paramilitary Islamic Revolutionary Guard Corps.Trump administration officials said after the strike that Soleimani had been planning imminent attacks on Americans and as a result had to be stopped.A week after his killing, Secretary of State Mike Pompeo said, "There was no doubt that there were a series of imminent attacks that were being plotted by Qasem Soleimani."But Pompeo, in an interview with Fox News, added, "We don't know precisely when and we don't know precisely where, but it was real," Pompeo said in an interview that aired Thursday night on Fox News.NBC News reported in mid-January that Trump authorized Soleimani's killing seven months before he actually was killed."The presidential directive in June came with the condition that Trump would have final signoff on any specific operation to kill Soleimani," NBC reported, citing five current and former senior administration officials.NBC News noted that the timing of that directive "could undermine" the administration's already publicly stated rationale for the killing.The administration's report on Friday said that Article II of the Constitution empowers the president, as commander in chief, "to direct the use of military force to protect the Nation from an attack or threat of imminent attack and to protect important national interests.""Article II thus authorized the President to use force against the forces of Iran, a state responsible for conducting and directing attacks against United States forces in the region," the report argued.The report also said that under the 2002 Authorization for Use of Military Force Against Iraq, the president has the power to use American military forces "as he determines to be necessary and appropriate" in order to defend U.S. national security against the threat posed by Iraq.While Iraq's late leader Saddam Hussein was the initial focus of that statute, the report notes, the statute long has been used to "authorize the use of force for the purpose of establishing a stable, democratic Iraq and addressing terrorist threats emanating from Iraq."Such uses of force can address "threats to the United States posed by militias, terrorist groups, or other armed groups in Iraq," the report said.
2021-10-30 14:11:33.499953
Conrad and Dodd Got VIP Loans: Countrywide Official
https://www.cnbc.com/2009/07/28/conrad-and-dodd-got-vip-loans-countrywide-official.html
2009-07-28T16:50:50+0000
null
CNBC
Two influential Senate committee chairmen were told they were getting special VIP deals when they applied for mortgages, an official who handled their loans told Congress in closed-door testimony.
cnbc, Articles, Bank of America Corp, Business News, Economy, US Economy, US: News, source:tagname:The Associated Press
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<div class="group"><p>Two influential Senate committee chairmen were told they were getting special VIP deals when they applied for mortgages, an official who handled their loans told Congress in closed-door testimony. </p></div>,<div class="group"><p>Democratic Sens. Christopher Dodd and Kent Conrad had denied knowing they were getting discounts when they negotiated their loan terms.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Robert Feinberg, who worked in the VIP section of <strong>Countrywide Financial</strong>, testified about the loan terms before the Senate Ethics Committee, and provided the same information in an interview with Republican investigators of the House Oversight and Government Reform Committee. He could be prosecuted for making false statements.</p><p>Both senators have said that at the time the mortgages were being written they didn't know they were getting unique deals from Countrywide, a company that lost billions of dollars on bad loans and since has been purchased by Bank of America .</p><p>Dodd, D-Conn., who is chairman of the Senate Banking Committee, still maintains that he got no preferential treatment.  Conrad, D-N.D., who leads the Senate Budget Committee, took that position initially, but later acknowledged he did get a special deal.</p><p>Dodd got two Countrywide mortgages in 2003, refinancing his home in Connecticut and another residence in Washington. Conrad's two Countrywide mortgages in 2004 were for a beach house in Delaware and an eight-unit apartment building in Bismarck.</p><ul><li><a href="https://www.cnbc.com/2009/07/28/Americas-Coolest-Beach-Homes.html">Slideshow: America's Coolest Beach Homes</a></li></ul><p>The Associated Press obtained a transcript of Feinberg's House interview. An account of his Senate appearance was obtained from the attorney who accompanied him to Congress, Elana Goldstein. Both appearances were on successive days last month.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Asked by a House Oversight investigator whether Conrad, the North Dakota senator, "was aware that he was getting preferential treatment," Feinberg answered: "Yes, he was aware."</p><p>Referring to Dodd, the investigator asked:</p><p>"And do you know if during the course of your communications" with the senator or his wife "that you ever had an opportunity to share with them if they were getting special VIP treatment?"</p><p>"Yes, yes," Feinberg replied.</p><p>The senators were VIP borrowers in the program known as "friends of Angelo." </p><p>Angelo Mozilo was chief executive of Countrywide, which played a big part in the foreclosure crisis triggered by defaults on subprime loans. The Calabasas, Calif.-based company was bought last July by Bank of America for about $2.5 billion.</p><p>Bryan DeAngelis, Dodd's spokesman, said Feinberg has repeatedly made allegations of special treatment that were not true.</p><p>"As the Dodds have said from the beginning, they did not seek or expect any special rates or terms on their loans and they never received any. They were never offered special or sweetheart deals and if anyone had made such an offer, they would have severed that relationship immediately."</p><p>DeAngelis also repeated Dodd's statements from February that an independent report showed the terms received by the senator and his wife were widely available at the time.</p></div>,<div class="group"><p>Conrad's spokesman, Chris Gaddie, said Monday that the senator "never asked for, expected or was aware of loans on any preferential terms" and has "worked overtime to set the record straight."</p><p>"He went with Countrywide simply because they already had his financial information," Gaddie said. </p><p>He added that a Countrywide official had told Conrad that "it is not unusual for them to make exceptions for good customers if they could sell the loan in the secondary market. We now know that they did sell the apartment building loan in the secondary market."</p><p>Feinberg said in his House testimony that it was hard for "friends of Angelo" to fail to see their special treatment, because the loan officers identified themselves as part of the VIP unit.</p><p>"When the loan comes out of the VIP processing unit their business cards are stapled in loan packages," Feinberg said. "It says 'VIP Supervisor,' VIP underwriter.' "Everyone's VIP, so I'm just thinking human nature is to think, well, what am I getting?"</p><p>Q. So as I understand what you're saying is, it was the pattern and practice of the account executives that handled VIP loans?</p><p>A. Yes.</p><p>Q. To notify the borrower.</p><p>A. Right.</p><p>Q. Of the preferential treatment they were receiving.</p><p>A. Right.</p><p>At a Feb. 2 news conference, Dodd said he knew he was in a VIP program but insisted he was told by Countrywide, "It was nothing more than enhanced customer service ... being able to get a person on the phone instead of an automated operator."</p><p>The ethics committee determines whether senators violated standards of conduct. The outcome of the investigation could hinge on whether the mortgage violated strict limits on gifts to lawmakers or ran afoul of other Senate rules. The committee typically just issues a report. It could recommend a censure vote by the Senate, but that is rare.</p><p>Feinberg was questioned closely by three of the ethics committee's six senators: Democratic Chairman Barbara Boxer of California; the panel's senior Republican, Johnny Isakson of Georgia, and Republican Jim Risch of Idaho, according to Goldstein, the Feinberg attorney.</p><p>The ethics questioning was intense at times, and Boxer asked the bulk of the questions, Goldstein said. When Feinberg described a conversation he had with Dodd, Boxer demanded to know how he remembered it. Feinberg said he recalled Dodd saying he had to leave to make a speech.</p><p>Boxer asked whether Dodd and Conrad received VIP treatment because they were senators. Feinberg said that was not the case; they received breaks as other influential people in Countrywide's "friends of Angelo" VIP program.</p><p>Isakson, a onetime real estate executive, asked more detailed questions about the mortgage agreements' terms.</p><p>Countrywide VIPs, Feinberg told the committees, received discounts on rates, fees and points. Dodd received a break when Countrywide counted both his Connecticut and Washington homes as primary owner-occupied residences — a fraction, according to Feinberg. </p><p>Conrad received a type of commercial loan that he was told Countrywide didn't offer.</p><p>"The simple fact that Angelo Mozilo and other high-ranking executives at Countrywide were personally making sure Mr. Feinberg handled their loans right is proof in itself that the senators knew they were getting sweetheart deals," said Feinberg's principal attorney, Anthony Salerno.</p><p>Conrad initially said in June 2008, "If they did me a favor, they did it without my knowledge and without my requesting it."</p><p>The next day, Conrad changed course after reviewing documents showing he got special treatment and said he was donating $10,500 to charity and refinancing the loan on the apartment building with another lender.</p><p>He also said then it appeared Countrywide had waived 1 point at closing on the beach house.</p></div>
Two influential Senate committee chairmen were told they were getting special VIP deals when they applied for mortgages, an official who handled their loans told Congress in closed-door testimony. Democratic Sens. Christopher Dodd and Kent Conrad had denied knowing they were getting discounts when they negotiated their loan terms.Robert Feinberg, who worked in the VIP section of Countrywide Financial, testified about the loan terms before the Senate Ethics Committee, and provided the same information in an interview with Republican investigators of the House Oversight and Government Reform Committee. He could be prosecuted for making false statements.Both senators have said that at the time the mortgages were being written they didn't know they were getting unique deals from Countrywide, a company that lost billions of dollars on bad loans and since has been purchased by Bank of America .Dodd, D-Conn., who is chairman of the Senate Banking Committee, still maintains that he got no preferential treatment.  Conrad, D-N.D., who leads the Senate Budget Committee, took that position initially, but later acknowledged he did get a special deal.Dodd got two Countrywide mortgages in 2003, refinancing his home in Connecticut and another residence in Washington. Conrad's two Countrywide mortgages in 2004 were for a beach house in Delaware and an eight-unit apartment building in Bismarck.Slideshow: America's Coolest Beach HomesThe Associated Press obtained a transcript of Feinberg's House interview. An account of his Senate appearance was obtained from the attorney who accompanied him to Congress, Elana Goldstein. Both appearances were on successive days last month.Asked by a House Oversight investigator whether Conrad, the North Dakota senator, "was aware that he was getting preferential treatment," Feinberg answered: "Yes, he was aware."Referring to Dodd, the investigator asked:"And do you know if during the course of your communications" with the senator or his wife "that you ever had an opportunity to share with them if they were getting special VIP treatment?""Yes, yes," Feinberg replied.The senators were VIP borrowers in the program known as "friends of Angelo." Angelo Mozilo was chief executive of Countrywide, which played a big part in the foreclosure crisis triggered by defaults on subprime loans. The Calabasas, Calif.-based company was bought last July by Bank of America for about $2.5 billion.Bryan DeAngelis, Dodd's spokesman, said Feinberg has repeatedly made allegations of special treatment that were not true."As the Dodds have said from the beginning, they did not seek or expect any special rates or terms on their loans and they never received any. They were never offered special or sweetheart deals and if anyone had made such an offer, they would have severed that relationship immediately."DeAngelis also repeated Dodd's statements from February that an independent report showed the terms received by the senator and his wife were widely available at the time.Conrad's spokesman, Chris Gaddie, said Monday that the senator "never asked for, expected or was aware of loans on any preferential terms" and has "worked overtime to set the record straight.""He went with Countrywide simply because they already had his financial information," Gaddie said. He added that a Countrywide official had told Conrad that "it is not unusual for them to make exceptions for good customers if they could sell the loan in the secondary market. We now know that they did sell the apartment building loan in the secondary market."Feinberg said in his House testimony that it was hard for "friends of Angelo" to fail to see their special treatment, because the loan officers identified themselves as part of the VIP unit."When the loan comes out of the VIP processing unit their business cards are stapled in loan packages," Feinberg said. "It says 'VIP Supervisor,' VIP underwriter.' "Everyone's VIP, so I'm just thinking human nature is to think, well, what am I getting?"Q. So as I understand what you're saying is, it was the pattern and practice of the account executives that handled VIP loans?A. Yes.Q. To notify the borrower.A. Right.Q. Of the preferential treatment they were receiving.A. Right.At a Feb. 2 news conference, Dodd said he knew he was in a VIP program but insisted he was told by Countrywide, "It was nothing more than enhanced customer service ... being able to get a person on the phone instead of an automated operator."The ethics committee determines whether senators violated standards of conduct. The outcome of the investigation could hinge on whether the mortgage violated strict limits on gifts to lawmakers or ran afoul of other Senate rules. The committee typically just issues a report. It could recommend a censure vote by the Senate, but that is rare.Feinberg was questioned closely by three of the ethics committee's six senators: Democratic Chairman Barbara Boxer of California; the panel's senior Republican, Johnny Isakson of Georgia, and Republican Jim Risch of Idaho, according to Goldstein, the Feinberg attorney.The ethics questioning was intense at times, and Boxer asked the bulk of the questions, Goldstein said. When Feinberg described a conversation he had with Dodd, Boxer demanded to know how he remembered it. Feinberg said he recalled Dodd saying he had to leave to make a speech.Boxer asked whether Dodd and Conrad received VIP treatment because they were senators. Feinberg said that was not the case; they received breaks as other influential people in Countrywide's "friends of Angelo" VIP program.Isakson, a onetime real estate executive, asked more detailed questions about the mortgage agreements' terms.Countrywide VIPs, Feinberg told the committees, received discounts on rates, fees and points. Dodd received a break when Countrywide counted both his Connecticut and Washington homes as primary owner-occupied residences — a fraction, according to Feinberg. Conrad received a type of commercial loan that he was told Countrywide didn't offer."The simple fact that Angelo Mozilo and other high-ranking executives at Countrywide were personally making sure Mr. Feinberg handled their loans right is proof in itself that the senators knew they were getting sweetheart deals," said Feinberg's principal attorney, Anthony Salerno.Conrad initially said in June 2008, "If they did me a favor, they did it without my knowledge and without my requesting it."The next day, Conrad changed course after reviewing documents showing he got special treatment and said he was donating $10,500 to charity and refinancing the loan on the apartment building with another lender.He also said then it appeared Countrywide had waived 1 point at closing on the beach house.
2021-10-30 14:11:33.537749
Is Goldilocks Getting Wrinkles?
https://www.cnbc.com/2007/04/16/is-goldilocks-getting-wrinkles.html
2007-04-16T17:48:42+0000
Peter Kang
CNBC
A market expert told CNBC that the Goldilocks economic scenario is getting a little long in the tooth and is especially concerned with the financial sector, which may show cracks in the façade this week."The stock market is overvalued," said Richard Suttmeier, chief market strategist at RightSide.com. "I'm viewing this as another opportunity for investors to lighten up on positions."Suttmeier said he was particularly worried about the financial sector. "Sure, some of the financial stocks are rallying, but that's because they're coming off pretty much near 52-week lows," he said.But Charles Lieberman, chief investment officer at Advisors Capital Management, said the market has a lot further to go."I think those sectors are actually very interesting to buy because they are at lows," said Lieberman. "They haven't participated in the rally."
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<div class="group"><p>A market expert told CNBC that the Goldilocks economic scenario is getting a little long in the tooth and is especially concerned with the financial sector, which may show cracks in the façade this week.</p><p>"The stock market is overvalued," said Richard Suttmeier, chief market strategist at RightSide.com. "I'm viewing this as another opportunity for investors to lighten up on positions."</p><div style="height:100%" class="lazyload-placeholder"></div><p>Suttmeier said he was particularly worried about the financial sector. "Sure, some of the financial stocks are rallying, but that's because they're coming off pretty much near 52-week lows," he said.</p><p>But Charles Lieberman, chief investment officer at Advisors Capital Management, said the market has a lot further to go.</p><p>"I think those sectors are actually very interesting to buy because they are at lows," said Lieberman. "They haven't participated in the rally."</p></div>,<div class="group"><p>Lieberman highlighted the current economic environment of moderate growth, low interest rates and "just so much liquidity you have to use all of the fingers of your hand to count up the deals."</p><p>'The conditions are really idyllic for a market advance," Lieberman said.</p><div style="height:100%" class="lazyload-placeholder"></div><p>But Suttmeier said this "Goldilocks" economic outlook was no longer relevant.</p><p>"I think Goldilocks is getting wrinkles," he said. "It's an old scenario, now we're in a situation where we're seeing inflation above the Fed's target range, and we're seeing that the distress in the banking system."</p><p>Suttmeier predicted that warnings signs are likely to appear this week when more than 60 community and regional banks are set to report.</p><p>"They're going to tell us that they're having an increase in 90-day loans and noncurrent loans and that is going to be a problem," he said.</p></div>
A market expert told CNBC that the Goldilocks economic scenario is getting a little long in the tooth and is especially concerned with the financial sector, which may show cracks in the façade this week."The stock market is overvalued," said Richard Suttmeier, chief market strategist at RightSide.com. "I'm viewing this as another opportunity for investors to lighten up on positions."Suttmeier said he was particularly worried about the financial sector. "Sure, some of the financial stocks are rallying, but that's because they're coming off pretty much near 52-week lows," he said.But Charles Lieberman, chief investment officer at Advisors Capital Management, said the market has a lot further to go."I think those sectors are actually very interesting to buy because they are at lows," said Lieberman. "They haven't participated in the rally."Lieberman highlighted the current economic environment of moderate growth, low interest rates and "just so much liquidity you have to use all of the fingers of your hand to count up the deals."'The conditions are really idyllic for a market advance," Lieberman said.But Suttmeier said this "Goldilocks" economic outlook was no longer relevant."I think Goldilocks is getting wrinkles," he said. "It's an old scenario, now we're in a situation where we're seeing inflation above the Fed's target range, and we're seeing that the distress in the banking system."Suttmeier predicted that warnings signs are likely to appear this week when more than 60 community and regional banks are set to report."They're going to tell us that they're having an increase in 90-day loans and noncurrent loans and that is going to be a problem," he said.
2021-10-30 14:11:33.586173
Dow soars 168 points to record close on earnings beats by Caterpillar, 3M
https://www.cnbc.com/2017/10/24/us-stock-futures-earnings-fed-chair-position-tax-reform-on-wall-street-agenda.html
2017-10-24T09:26:38+0000
Alexandra Gibbs,Fred Imbert
CNBC
The Dow Jones industrial average rose sharply on Tuesday on the back of strong quarterly results from 3M and Caterpillar. The 30-stock index closed 167.80 points higher at 23,441.76, hitting intraday and closing record highs. JPMorgan Chase shares rose 1.6 percent to break above $100 for the first time.The S&P 500 gained 0.2 percent to finish at 2,569.13, with financials rising to their highest level in 10 years. Corning and 3M were the best performers on the index. The Nasdaq composite advanced 0.2 percent to end at 6,598.43."This is very much earnings-driven," said Michael Shaoul, chairman and CEO of Marketfield Asset Management. "The economically sensitive sectors of the S&P 500 have seen some strong earnings and that's what we needed."Caterpillar reported earnings per share of $1.95 on revenue of $11.413 billion. Analysts polled by Reuters expected a profit of $1.27 per share on sales of $10.649 billion. Caterpillar shares rose 5 percent.3M shares rose 5.9 percent after the company posted earnings per share of $2.33 on sales of $8.172 billion. Analysts polled by Reuters expected a profit of $2.21 per share on revenue of $7.927 billion.United Technologies, another Dow component, also reported better-than-expected results; its stock rose as much as 1.98 percent before closing 0.9 percent lower. General Motors, Eli Lilly and Polaris Industries also rose after reporting earnings.
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<div class="group"><p>The <a href="https://www.cnbc.com/quotes/.DJI">Dow Jones industrial average</a> rose sharply on Tuesday on the back of strong quarterly results from <a href="//www.cnbc.com/quotes/MMM" target="_blank">3M</a> and <a href="//www.cnbc.com/quotes/CAT" target="_blank">Caterpillar</a>. </p><p>The 30-stock index closed 167.80 points higher at 23,441.76, hitting intraday and closing record highs. JPMorgan Chase shares rose 1.6 percent to break above $100 for the first time.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The S&amp;P 500 gained 0.2 percent to finish at 2,569.13, with financials rising to their highest level in 10 years. Corning and 3M were the best performers on the index. The Nasdaq composite advanced 0.2 percent to end at 6,598.43.</p><p>"This is very much earnings-driven," said Michael Shaoul, chairman and CEO of Marketfield Asset Management. "The economically sensitive sectors of the S&amp;P 500 have seen some strong earnings and that's what we needed."</p><p>Caterpillar reported earnings per share of $1.95 on revenue of $11.413 billion. Analysts polled by Reuters expected a profit of $1.27 per share on sales of $10.649 billion. Caterpillar shares rose 5 percent.</p><p>3M shares rose 5.9 percent after the company posted earnings per share of $2.33 on sales of $8.172 billion. Analysts polled by Reuters expected a profit of $2.21 per share on revenue of $7.927 billion.</p><p>United Technologies, another Dow component, also reported better-than-expected results; its stock rose as much as 1.98 percent before closing 0.9 percent lower.</p><div style="height:100%" class="lazyload-placeholder"></div><p> <a href="//www.cnbc.com/quotes/GM" target="_blank">General Motors</a>, Eli Lilly and Polaris Industries also rose after reporting earnings.</p></div>,<div class="group"><p>After the bell, <a href="//www.cnbc.com/quotes/T" target="_blank">AT&amp;T</a>, <a href="//www.cnbc.com/quotes/COF" target="_blank">Capital One</a>, <a href="//www.cnbc.com/quotes/CMG" target="_blank">Chipotle Mexican Grill</a>, <a href="//www.cnbc.com/quotes/DFS" target="_blank">Discover Financial</a>, <a href="//www.cnbc.com/quotes/JNPR" target="_blank">Juniper Networks</a> and many more are set to report earnings.</p><p>"It's all about earnings right now. Can they justify valuations? That's the key question right now more so than in recent memory," said Phil Blancato, CEO of Ladenburg Thalmann Asset Management. </p><p>This is the busiest week of the earnings season, with about a third of the S&amp;P 500 expected to have reported by Friday.</p><p>U.S. stocks closed lower in <a href="https://www.cnbc.com/2017/10/23/us-stocks-earnings-record-highs-tax-reform.html">the previous session</a>, with the Dow and S&amp;P 500 breaking six-day winning streaks.</p><p>On Tuesday, President Donald Trump tweeted after the Dow hit a record: "Stock Market just hit another record high! Jobs looking very good."</p><p><a href="https://twitter.com/realDonaldTrump/status/922833943749103621" target="_blank">TWEET: Stock Market just hit another record high! Jobs looking very good.</a></p><p>Wall Street was also hopeful that tax reform could pick up steam in Washington.</p><p>Last week, the <a href="https://www.cnbc.com/2017/10/19/senate-passes-a-budget-moving-the-gop-closer-to-tax-reform.html">Senate passed a budget proposal</a> that allowed Republicans to move closer to eventually passing tax reform — a measure that was approved by a vote of 51-49. The GOP is now reportedly moving quickly to try and get tax reform before the end of the year.</p><p>Bloomberg reported Monday that House and Senate leaders laid out a schedule for drafting and releasing tax reform <a href="https://www.bloomberg.com/news/articles/2017-10-23/house-conservatives-say-tax-bill-draft-is-coming-within-days" target="_blank">legislation in the next few weeks</a>.</p><p>Elsewhere, Politico reported that an administration-backed group met on Monday to <a href="http://www.politico.com/story/2017/10/23/trump-tax-overhaul-white-house-244095" target="_blank">plan out a multi-million dollar tax reform campaign</a>.</p><p>CNBC reported on Tuesday that House Republicans <a href="https://www.cnbc.com/2017/10/24/republicans-aim-to-unveil-tax-reform-bill-on-nov-1-source-says.html">will unveil a tax bill on Nov. 1</a>.</p><p>The prospects of getting tax reform by year's end provide "an upbeat path for the stock market bulls to continue charging ahead," said Ed Yardeni, president and chief investment strategist at Yardeni Research, in a note. "If it turns into a stampede, then the resulting meltup could set the stage for a correction when tax reform is actually enacted."</p><p>In economic news, the flash U.S. Composite PMI rose to 55.7 in October, hitting a nine-month high. That release was accompanied by the Richmond Fed survey of manufacturing activity, which showed a slowdown in manufacturing activity in October.</p><p>Overseas, <a href="https://www.cnbc.com/2017/10/24/europe-markets-ftse-cac-dax-politics-spain-catalonia-crisis-earnings.html">European stocks</a> fell slightly, while <a href="https://www.cnbc.com/2017/10/23/asian-markets-focus-on-dollar-yen-china-party-congress.html">markets in Asia</a> finished on a relatively mixed note.</p></div>
The Dow Jones industrial average rose sharply on Tuesday on the back of strong quarterly results from 3M and Caterpillar. The 30-stock index closed 167.80 points higher at 23,441.76, hitting intraday and closing record highs. JPMorgan Chase shares rose 1.6 percent to break above $100 for the first time.The S&P 500 gained 0.2 percent to finish at 2,569.13, with financials rising to their highest level in 10 years. Corning and 3M were the best performers on the index. The Nasdaq composite advanced 0.2 percent to end at 6,598.43."This is very much earnings-driven," said Michael Shaoul, chairman and CEO of Marketfield Asset Management. "The economically sensitive sectors of the S&P 500 have seen some strong earnings and that's what we needed."Caterpillar reported earnings per share of $1.95 on revenue of $11.413 billion. Analysts polled by Reuters expected a profit of $1.27 per share on sales of $10.649 billion. Caterpillar shares rose 5 percent.3M shares rose 5.9 percent after the company posted earnings per share of $2.33 on sales of $8.172 billion. Analysts polled by Reuters expected a profit of $2.21 per share on revenue of $7.927 billion.United Technologies, another Dow component, also reported better-than-expected results; its stock rose as much as 1.98 percent before closing 0.9 percent lower. General Motors, Eli Lilly and Polaris Industries also rose after reporting earnings.After the bell, AT&T, Capital One, Chipotle Mexican Grill, Discover Financial, Juniper Networks and many more are set to report earnings."It's all about earnings right now. Can they justify valuations? That's the key question right now more so than in recent memory," said Phil Blancato, CEO of Ladenburg Thalmann Asset Management. This is the busiest week of the earnings season, with about a third of the S&P 500 expected to have reported by Friday.U.S. stocks closed lower in the previous session, with the Dow and S&P 500 breaking six-day winning streaks.On Tuesday, President Donald Trump tweeted after the Dow hit a record: "Stock Market just hit another record high! Jobs looking very good."TWEET: Stock Market just hit another record high! Jobs looking very good.Wall Street was also hopeful that tax reform could pick up steam in Washington.Last week, the Senate passed a budget proposal that allowed Republicans to move closer to eventually passing tax reform — a measure that was approved by a vote of 51-49. The GOP is now reportedly moving quickly to try and get tax reform before the end of the year.Bloomberg reported Monday that House and Senate leaders laid out a schedule for drafting and releasing tax reform legislation in the next few weeks.Elsewhere, Politico reported that an administration-backed group met on Monday to plan out a multi-million dollar tax reform campaign.CNBC reported on Tuesday that House Republicans will unveil a tax bill on Nov. 1.The prospects of getting tax reform by year's end provide "an upbeat path for the stock market bulls to continue charging ahead," said Ed Yardeni, president and chief investment strategist at Yardeni Research, in a note. "If it turns into a stampede, then the resulting meltup could set the stage for a correction when tax reform is actually enacted."In economic news, the flash U.S. Composite PMI rose to 55.7 in October, hitting a nine-month high. That release was accompanied by the Richmond Fed survey of manufacturing activity, which showed a slowdown in manufacturing activity in October.Overseas, European stocks fell slightly, while markets in Asia finished on a relatively mixed note.
2021-10-30 14:11:33.690985
Strong jobs report is not enough to ease recession fears
https://www.cnbc.com/2016/07/08/strong-jobs-report-is-not-enough-to-ease-recession-fears-commentary.html
2016-07-08T09:29:58-0400
null
CNBC
Nonfarm payrolls rose 287,000 in June, significantly more than expected according to the median consensus on Bloomberg, and certainly a welcome improvement from the minimal rise last month. May, in fact, was revised down further from 38,000 to just 11,000. Taking the Verizon strike into account, adding 35,000 to May and subtracting 35,000 from June, the last two months of payroll gains are more like 46,000 and 252,000 respectively. Still, the improvement at the end of the second-quarter does little to reinstate a positive trajectory in hiring – remember it's not about just one or two months data, it is about the trend pace. The three-month average rose from 115,000 to 140,000 in June, down markedly, however, from a near 300,000 pace at the end of 2015 when the Fed opted to raise interest rates for the first time in nine years. In other words, while the Fed's preemptive policy adjustment was based on expectations of further improvement in the labor market and inflation, the data have still-failed to evolve as expected. The unemployment rate ticked up from 4.7 percent to 4.9 percent in June as nearly half a million workers moved back into the labor force – nearly the same amount that dropped out the month prior. Household employment rose, however, by only 67k in June prompting a rise in the unemployment rate, as well as the participation rate from 62.6 percent to 62.7 percent. Average hourly earnings rose just 0.1 percent in June, enough, however, to boost the annual pace of earnings up to 2.6 percent, a new high for 2016. If sustained, which is itself a big if, positive, above-trend earnings growth would offer the Federal Reserve at least one strong indication of continued improvement in the U.S. labor market. As of late, however, it is still too soon to suggest a sustainable upward trend as wages have been increasingly volatile month-to-month. Finally, the workweek remains unchanged at 34.4 in June, as if has for the past five months. Here's the bottom line: Prior to the violent reaction in the financial markets following the Brexit, several Committee members noted the downside risks to the Fed's outlook for growth in economic activity and for further improvement in labor market conditions. This morning's June employment report, while a welcome improvement from a disappointing rise in May, has done little to help quell the Committee's well-founded concerns surrounding labor market strength or the market's concerns of a recession over the next 12-24 months. After all, although the headline increase in May was severely disappointing and seemingly an anomaly, the pace of hiring has been slowing for some time. Near 300,000 at the end of last year, the three-month average slowed to fewer than 200,000 in the first quarter before dropping to just above 100,000 as of late. Thus, even the outsized nominal rise in June of 287,000, beating market expectations, is not enough to reestablish an improving trend in hiring. Rather, a still-weakened trajectory will continue to fuel the Committee's concerns surrounding the underlying momentum of the U.S. labor market, and the domestic economy as a whole, into the second-half of the year and beyond, perpetuating the Fed's inability to raise rates anytime soon. In other words, if rates were poised to stay low for longer, the Fed's acknowledgement of recent weakness on the domestic front coupled with global market volatility suggest rates are now likely to be much lower for much, much, much longer. Commentary by Lindsey Piegza, the chief economist for Stifel, Nicolaus & Company, specializing in the research and analysis of economic trends and activity, world economies, financial markets and fiscal policies. Piegza joined Stifel in 2015 amid the merger with Sterne Agee where she served as chief economist. Previously, Piegza served as the economist for FTN Financial for eight years in NYC. Follow her on Twitter @lindseypiegza. For more insight from CNBC contributors, follow @CNBCopinion on Twitter.
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2021-10-30 14:11:33.734527
Discouraged CEOs Set Bar Low for Obama's Job Speech
https://www.cnbc.com/2011/09/07/discouraged-ceos-set-bar-low-for-obamas-job-speech.html
2011-09-07T14:51:39+0000
Gennine Kelly
CNBC
Ahead of President Obama's highly anticipated jobs package unveiled on Thursdayin front of Congress, and CEOs on CNBC this week had some tough words for the president.
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<div class="group"><p>Ahead of President Obama's highly anticipated <strong>jobs package unveiled on Thursday</strong>in front of Congress, and CEOs on CNBC this week had some tough words for the president.</p></div>,<div class="group"><p>An NBC/Wall Street Journal poll showed Obama's overall job approval rating at a low of 44 percent, down 3 percentage points since July, while his handling of the economy stands at 37 percent. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Donald Carty, chairman of Virgin America and former AMR chairman and CEO, noted "there's very little expectation about [Thursday's] speech or anything that will happen in the next eighteen months."</p><p>Lack of confidence is a result of the government's inability "to delvelop a plan to fix these problems," he added. "Demand is not going to come back in the U.S. because everybody is holding back because of this concern."</p></div>,<div class="group"><p>"The uncertainty lies in the fact that we know there are fundamental problems in this economy—they're severe, they're significant," Cart went on to say. </p><p>John Schiller, chairman and CEO of Energy XXI, said "if the government would get out of the way, from a regulation standpoint, and let us [XXI] do what we do good you'll see us continue to hire and grow this economy."</p><p>"I think that's a message from across the board," said Schiller.</p><div style="height:100%" class="lazyload-placeholder"></div></div>,<div class="group"><p>Richard Parsons, chairman of Citigroup, told CNBC there are some specific things that can be done "in terms of moving government out of the way where its in the way of job creation."</p></div>,<div class="group"><p>"The President is trying to be pro-business. He's [Obama] trying to do what he can to work with the business community," added Parsons.</p><p>Joe Echevarria, Deloitte's new U.S. CEO stressed that growth comes from offering incentives to the private sector "through tax reform, regulation and responsible fiscal policy."</p><p>But it needs to be done in a "pragmatic" way with a responsible government and less politics," he said.  <br></p><p>Heather Bresch, CEO of Mylan Labs, said unemployment is "tough to band-aid when it’s of such epic proportions."</p><p>"There needs to be a real recognition of what is job creation and that there’s a difference between a government job and a private sector job...We really need to step back and live within our means," added Bresch. "That’s a very tough pill for everybody to swallow and I think <a href="https://www.cnbc.com/2011/09/07/us-economy-is-basically-still-in-recession-feds-evans.html">given the partisan of what Washington has become</a>, they’re not putting America first." </p><p>Liam McGee, CEO of Hartford Financial Services Group, stressed the importance of creating "incentives for businesses and entrepreneurs to invest—hire people in their plant, equipment and grow."</p><p>"We ought to be celebrating our entrepreneurs," McGee added, "and those who are creating vibrant businesses and creating jobs."</p><p>Jon Faraci, CEO of International Paper, told CNBC "to create jobs what we need is demand. This economy is 70 percent consumer driven, so we need consumers spending some of their discretionary income if we're going to have demand that's gong to lead to more jobs."</p><p>"If we get demand, we’ll put more shifts on, our employees will be working more hours, and we’ll hire more people. Without demand we can have all the certainty in the world and all the clarity about regulation, but to me it’s not so much about confidence as it is about demand," explained Faraci.</p></div>,<div class="group"><p>Indra Nooyi, chairman and CEO of PepsiCo, noted that "anything that's done to address unemployment in terms of massive stimulus spending is going to exacerbate deficits. And anything that's done to address deficits in the short-term is going to exacerbate unemployment."</p><p>Nooya went on to say we're in "a bit of a policy box and it's going to require us being willing to give up one of the two, which is it's okay to take on more deficits but lets put in some massive spending. Alternatively to say, 'we're going to go through structural unemployment for a while because we want to address deficits.'"</p><p>At this point I think we are all trying to address this conundrum by saying we have to address both sides, unfortunately there is no way out of this," Nooya added.</p><p>Michael George, CEO of QVC, noted the importance of "making sure that there's a tax code and an investment code that supports the formation and growth of small businesses." </p><p>"We need a cohesive plan to grow jobs, and to restore some confidence that the government can work and make decisions" in order to move forward, George went on to say.</p></div>
Ahead of President Obama's highly anticipated jobs package unveiled on Thursdayin front of Congress, and CEOs on CNBC this week had some tough words for the president.An NBC/Wall Street Journal poll showed Obama's overall job approval rating at a low of 44 percent, down 3 percentage points since July, while his handling of the economy stands at 37 percent. Donald Carty, chairman of Virgin America and former AMR chairman and CEO, noted "there's very little expectation about [Thursday's] speech or anything that will happen in the next eighteen months."Lack of confidence is a result of the government's inability "to delvelop a plan to fix these problems," he added. "Demand is not going to come back in the U.S. because everybody is holding back because of this concern.""The uncertainty lies in the fact that we know there are fundamental problems in this economy—they're severe, they're significant," Cart went on to say. John Schiller, chairman and CEO of Energy XXI, said "if the government would get out of the way, from a regulation standpoint, and let us [XXI] do what we do good you'll see us continue to hire and grow this economy.""I think that's a message from across the board," said Schiller.Richard Parsons, chairman of Citigroup, told CNBC there are some specific things that can be done "in terms of moving government out of the way where its in the way of job creation.""The President is trying to be pro-business. He's [Obama] trying to do what he can to work with the business community," added Parsons.Joe Echevarria, Deloitte's new U.S. CEO stressed that growth comes from offering incentives to the private sector "through tax reform, regulation and responsible fiscal policy."But it needs to be done in a "pragmatic" way with a responsible government and less politics," he said.  Heather Bresch, CEO of Mylan Labs, said unemployment is "tough to band-aid when it’s of such epic proportions.""There needs to be a real recognition of what is job creation and that there’s a difference between a government job and a private sector job...We really need to step back and live within our means," added Bresch. "That’s a very tough pill for everybody to swallow and I think given the partisan of what Washington has become, they’re not putting America first." Liam McGee, CEO of Hartford Financial Services Group, stressed the importance of creating "incentives for businesses and entrepreneurs to invest—hire people in their plant, equipment and grow.""We ought to be celebrating our entrepreneurs," McGee added, "and those who are creating vibrant businesses and creating jobs."Jon Faraci, CEO of International Paper, told CNBC "to create jobs what we need is demand. This economy is 70 percent consumer driven, so we need consumers spending some of their discretionary income if we're going to have demand that's gong to lead to more jobs.""If we get demand, we’ll put more shifts on, our employees will be working more hours, and we’ll hire more people. Without demand we can have all the certainty in the world and all the clarity about regulation, but to me it’s not so much about confidence as it is about demand," explained Faraci.Indra Nooyi, chairman and CEO of PepsiCo, noted that "anything that's done to address unemployment in terms of massive stimulus spending is going to exacerbate deficits. And anything that's done to address deficits in the short-term is going to exacerbate unemployment."Nooya went on to say we're in "a bit of a policy box and it's going to require us being willing to give up one of the two, which is it's okay to take on more deficits but lets put in some massive spending. Alternatively to say, 'we're going to go through structural unemployment for a while because we want to address deficits.'"At this point I think we are all trying to address this conundrum by saying we have to address both sides, unfortunately there is no way out of this," Nooya added.Michael George, CEO of QVC, noted the importance of "making sure that there's a tax code and an investment code that supports the formation and growth of small businesses." "We need a cohesive plan to grow jobs, and to restore some confidence that the government can work and make decisions" in order to move forward, George went on to say.
2021-10-30 14:11:34.039290
Watch live: New York Gov. Andrew Cuomo updates the public as state rolls out Covid vaccines
https://www.cnbc.com/2020/12/23/watch-live-new-york-gov-andrew-cuomo-updates-the-public-as-state-rolls-out-covid-vaccines.html
2020-12-23T16:13:36+0000
Will Feuer
CNBC
[The stream is slated to start at 11:30 a.m. ET. Please refresh the page if you do not see a player above at that time.]New York Gov. Andrew Cuomo is scheduled to hold a press briefing Wednesday on the Covid-19 vaccine distribution plans as the threat of another economic shutdown looms over the state.Last week, Cuomo and New York City Mayor Bill de Blasio noted that the state might close nonessential businesses in some regions in January. For weeks, Cuomo has said that he will implement more restrictions in parts of the state where hospitals are overwhelmed to the point that they cannot care for every patient.But he has noted that it's up to residents of New York to follow public health precautions to limit the spread of the coronavirus and avoid a shutdown."Of course a shutdown in January is possible," Cuomo said last week. "But there's a big but," he said, spelling the word out one letter at a time "B-U-T."— CNBC's Noah Higgins-Dunn contributed to this report.Read CNBC's live updates to see the latest news on the Covid-19 outbreak.
cnbc, Articles, Coronavirus: SIA, Health care industry, Biotech and Pharmaceuticals, Biotechnology, Pharmaceuticals, Business, Markets, Coronavirus, Disease outbreaks, Epidemics, Pandemics, Andrew Cuomo, Noah Higgins-Dunn, World News, Business News, Asia News, China Politics, Asia Markets, Europe News, Latin America Markets, Health & Science, source:tagname:CNBC US Source
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<div class="group"><div class="withOneTrustPlaceholder-placeholderDimensions OneTrustLoadingPlaceholder-container"><div class="DynamicLoadingIndicator-spinnerParent" data-test="DynamicLoadingIndicator"><div class="DynamicLoadingIndicator-spinner" style="width:40px;height:40px"></div></div></div><p><strong>[The stream is slated to start at 11:30 a.m. ET. Please refresh the page if you do not see a player above at that time.]</strong></p><p>New York Gov. <a href="https://www.cnbc.com/andrew-cuomo/">Andrew Cuomo</a> is scheduled to hold a press briefing Wednesday on the Covid-19 vaccine distribution plans as the threat of another economic shutdown looms over the state.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Last week, Cuomo and New York City Mayor Bill de Blasio noted that the state might close nonessential businesses in some regions in January. For weeks, Cuomo has said that he will implement more restrictions in parts of the state where hospitals are overwhelmed to the point that they cannot care for every patient.</p><p>But he has noted that it's up to residents of New York to follow public health precautions to limit the spread of the coronavirus and avoid a shutdown.</p><p>"Of course a shutdown in January is possible," Cuomo said last week. "But there's a big but," he said, spelling the word out one letter at a time "B-U-T."</p><p><em>— CNBC's </em><a href="https://www.cnbc.com/noah-higgins-dunn/"><em>Noah Higgins-Dunn</em></a><em> contributed to this report.</em></p><p><a href="https://www.cnbc.com/2020/12/23/covid-live-updates.html"><em>Read CNBC's live updates to see the latest news on the Covid-19 outbreak.</em></a></p></div>
[The stream is slated to start at 11:30 a.m. ET. Please refresh the page if you do not see a player above at that time.]New York Gov. Andrew Cuomo is scheduled to hold a press briefing Wednesday on the Covid-19 vaccine distribution plans as the threat of another economic shutdown looms over the state.Last week, Cuomo and New York City Mayor Bill de Blasio noted that the state might close nonessential businesses in some regions in January. For weeks, Cuomo has said that he will implement more restrictions in parts of the state where hospitals are overwhelmed to the point that they cannot care for every patient.But he has noted that it's up to residents of New York to follow public health precautions to limit the spread of the coronavirus and avoid a shutdown."Of course a shutdown in January is possible," Cuomo said last week. "But there's a big but," he said, spelling the word out one letter at a time "B-U-T."— CNBC's Noah Higgins-Dunn contributed to this report.Read CNBC's live updates to see the latest news on the Covid-19 outbreak.
2021-10-30 14:11:34.186612
5 Stocks Insiders Love Right Now
https://www.cnbc.com/2012/07/18/5-stocks-insiders-love-right-now.html
2012-07-18T16:51:47+0000
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CNBC
Corporate insiders sell their own companies' stock for a number of reasons. They might need the cash for a big personal purchase such as a new house or yacht, or they might need the cash to fund a charity. Sometimes they sell as part of a planned selling program that they have put in place for diversification purposes, which allows them to sell stock in stages instead of selling all at one price.
cnbc, Articles, Disclaimer, Bonds, Currencies, Futures & Commodities, DOW 30, 5 Stocks Under $10 That Probably Won’t Double, Lights. Camera. Invest! Putting Filmmaking in the Portfolio, VeriFone Systems Inc, IMAX Corp, Synageva BioPharma Corp, Deckers Outdoor Corp, Markets, stocks, Stock Blog, source:tagname:The Street
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<div class="group"><p>Corporate insiders sell their own companies' stock for a number of reasons. </p><p>They might need the cash for a big personal purchase such as a new house or yacht, or they might need the cash to fund a charity. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Sometimes they sell as part of a planned selling program that they have put in place for diversification purposes, which allows them to sell stock in stages instead of selling all at one price. </p></div>,<div class="group"><p>Other times they sell because they think their stock is overvalued and the risk/reward is no longer attractive. Some even dump their own stock because they have inside knowledge that a competitor is eating their lunch and stealing market share. </p><p>But insiders usually buy their own shares for one reason: They think the stock is a bargain and has tremendous upside.   </p><p>The key word in that last statement is “think.” Just because a corporate insider thinks his or her stock is going to trade higher, that doesn’t mean it will play out that way. </p><p>Insiders can have all the conviction in the world that their stock is a buy, but if the market doesn’t agree with them, the stock could end up going nowhere. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Also, I say “usually” because sometimes insiders are loaned money by the company to buy their own stock. Those loans are often sweetheart deals and shouldn’t be viewed as organic insider buying. </p><p>At the end of the day, its large institutional money managers running big mutual funds and hedge funds that drive stock prices, not insiders. </p><p>That said, many of these savvy stock operators will follow insider buying activity when they agree with the insider that the stock is undervalued and has upside potential. </p><p>This is why it’s so important to always be monitoring insider activity, but it’s twice as important to make sure the trend of the stock coincides with the insider buying. </p><p>Recently, a number of companies’ corporate insiders have bought large amounts of stock. These insiders are finding some value in the market, which warrants a closer look at these stocks. </p><p>Here’s a look at several stocks that insiders have been doing some big guying in per Securities and Exchange Commission filings.</p><p><strong>1. IMAX</strong></p><p>One stock that insiders are snapping up a huge amount of is Imax, which, together with its wholly owned subsidiaries, operates as an entertainment technology company specializing in motion picture technologies and presentations worldwide. </p><p>Insiders are loading up on this stock into strength, since shares are up a whopping 38 percent so far in 2012. </p><p>Imax has a <strong>market capitalization</strong> of $1.67 billion and an enterprise value of $1.62 billion. </p><p>This stock trades at a premium valuation, with a trailing price-to-earnings of 89 and a forward price-to-earnings of 22.38. Its estimated growth rate for this year is 135 percent, and for next year it’s pegged at 21.3 percent. This is not a cash-rich company, since the total cash position on its balance sheet is $21.59 million, and its total debt is $55 million. </p><p>A beneficial owner just bought 183,600 shares, or about $4.3 million worth of stock, at $22.62 to $24.11 per share. This same beneficial owner also just bought 326,400 shares, or about $7.49 million worth of stock, at $22.91 to $23.04 per share. </p><p>From a technical perspective, IMAX is currently trading above both its 50-day and 200-day moving averages, which is bullish. This stock recently bounced right off its 50-day at $22.50 a share, and it has now started enter breakout territory, with the stock moving above some near-term overhead resistance at $25.12 to $25.34 a share. That move started on Tuesday, and it was accompanied by massive upside volume of 3.34 million shares. </p><p>If you’re bullish on IMAX, then I would look for long-biased trades once it triggers its next major breakout trade above some past overhead resistance levels at $26.48 to $26.68 a share with high volume. </p><p>Look for volume on that breakout that registers near or above its three-month average action of 1.3 million shares. If we get that move soon, then IMAX could easily spike north of $30 a share. </p><p>I would avoid IMAX or look for short-baized trades if it fails to hold that near-term breakout over $25.12 to $25.34 a share, and then drops back below its 50-day at $22.50 and 200-day at $21.58 with high volume. If we get that action, then look for IMAX to trend back below $20 a share. </p><p><strong>2. Synageva BioPharma</strong></p><p>In the biotechnology and drugs complex, insiders are loading up on Synageva BioPharma, which is focused on the discovery, development and commercialization of therapeutic products for patients with life-threatening rare diseases and unmet medical needs. </p></div>,<div class="group"><p>Insiders are buying this stock into some big-time strength here, since shares are up over 80% so far in 2012. </p><p>Synageva has a market cap of $1.04 billion and an enterprise value of $903 million. This stock trades at a premium valuation, with a price-to-sales of 235.20 and a price-to-book of 6.85. </p><p>Its estimated growth rate for this year is 78.6%, and for next year it's pegged at — 51.10 percent. This is a cash-rich company, since the total cash position on its balance sheet is $138.92 million, and its total debt is zero.</p><p>A director and beneficial owner just bought 886,000 shares, or about $36.5 million worth of stock, at $41.20 per share. Another director also just bought 73,000 shares, or about $3 million worth of stock, at $41.20 per share. </p><p>From a technical perspective, Synageva is currently trading above both its 50-day and 200-day moving averages, which is bullish. This stock triggered a major breakout trade back in late June once it started to move above some past overhead resistance at $40.38 with massive upside volume. </p><p>Following that trigger, shares of Synageva pulled back briefly to around $40 a share, and then took off to hit its recent 52-week high of $49.93 a share. That move has started to push Synageva into overbought territory, since its current relative strength index reading is 80.42. </p><p>If you’re in the bull camp on Synageva, then I would wait for this stock to pullback significantly since it’s extended by almost 10 points above its 50-day moving average of $39.28 a share, and it’s almost 20 points above its 200-day moving average of $30.36 a share. </p><p>Look for a buying opportunity in Synageva once it pulls back closer to its 50-day moving average of $39.28 a share, at let’s say $42 to $40 a share if we get it. </p></div>,<div class="group"><p><strong>3. Deckers Outdoor</strong></p><p>Insiders are also snapping up a large amount of stock in Deckers Outdoor, a designer, producer, marketer, and brand manager of footwear, apparel, and accessories. </p></div>,<div class="group"><p>Insiders are sniffing out some deep value here, since this stock has traded down by over 35 percent so far in 2012. </p><p>Deckers Outdoor has a market cap of $1.80 billion and an enterprise value of $1.55 billion. This stock trades at a cheap valuation, with a trailing price-to-earnings of 9.79 and a forward price-to-earnings of 8.62. </p><p>Its estimated growth rate for this year is -11 percent, and for next year it’s pegged at 20.6 percent. This is a cash-rich company, since the total cash position on its balance sheet is $228.57 million, and its total debt is zero. </p><p>The CEO just bought 10,000 shares, or around $459,000 worth of stock, at $45.90 per share. </p><p>From a technical perspective, Deckers is currently trading below both its 50-day and 200-day moving averages, which is bearish. </p><p>This stock has been stuck in a nasty downtrend for the past eight months, with shares plunging from over $118.90 to a recent low of $42.16 a share. During that sharp move lower, shares of Deckers have consistently made lower highs and lower lows, which is bearish technical price action. </p><p>That said, the stock has started to reverse that trend and make higher lows and some higher highs. That move is quickly pushing Deckers within range of triggering a near-term breakout trade.</p><p>If you’re bullish on Deckers, then I would look for long-biased trades once this stock manages to clear some near-term overhead resistance at $48.41 a share, and then its 50-day moving average of $50.15 a share with high volume. </p><p>Look for volume on that move that’s tracking in near or above its three-month average action of 1.9 million shares. If that breakout triggers soon, then Deckers could easily re-test and possibly take out its next significant overhead resistance levels of $54.88 to $59.07 a share. </p><p>Keep in mind that we will need to see a high-volume trend above its 50-day to have any chance at hitting those targets. </p><p>On the flipside, I would avoid Deckers or look for short-baized trades if the stock fails to trigger that breakout soon, and then takes out its near-term support zones at $45 to $43.92, plus its 52-week low of $42.15 a share with high volume. </p><p>If we get that action, then Deckers could slide back below $40 a share if the bears gain full control of this stock. Keep in mind that it’s almost always bearish technical action when a stock continues to print new 52-week lows.</p></div>,<div class="group"><p><strong>4. Verifone Systems</strong></p><p>Another stock that insiders are finding attractive here is business equipment player VeriFone Systems, which is engaged in the secure electronic payment solutions. </p></div>,<div class="group"><p>It provides solutions, and services for the financial, retail, hospitality, petroleum, transportation, government, and health-care vertical markets. Insiders are finding some deep value here, since this stock is down by over 33 percent in the last three months. </p><p>VeriFone has a market cap of $3.84 billion and an enterprise value of $5.13 billion. This stock trades at a reasonable valuation, with a trailing price-to-earnings of 16.7 and a forward price-to-earnings of 10.96. </p><p>Its estimated growth rate for this year is 38.5 percent, and for next year it's pegged at 22.2 percent. This is not a cash-rich company, since the total cash position on its balance sheet is $366.40 million, and its total debt is a whopping $1.61 billion. </p><p>The CEO just bought 155,000 shares, or around $5.03 million worth of stock, at $32.50 per share. </p><p>From a technical perspective, VeriFone is currently trading below both its 50-day and 200-day moving averages, which is bearish. This stock got hammered back in April, with shares plunging from a high of $55.89 to a recent low of $30.10 a share. </p><p>During that massive drop, shares of VeriFone were constantly making lower highs and lower lows, which is bearish technical price action. The stock also flashed a number of warning signs to longs with large gap downs on heavy volume. </p><p>That said, the stock has started to find some buying interest near $30 to $32 a share, and it’s now making higher lows and higher highs. </p><p>If you’re in the bull camp on VeriFone, I would look for long-biased trades if this stock can manage to trigger a near-term breakout trade above some overhead resistance levels at $36.78 to its 50-day moving average of $36.81 a share with high volume. </p><p>Look for volume on that move that hits near or above its three-month average volume of 3.6 million shares. If we get that breakout soon, then VeriFone could start to fill a recent gap down that started near $44 a share. </p><p>Some key levels to watch for are $40 a share which is near the low of the gap down day, and its 200-day moving average of $42.25 a share. If those levels get taken out with volume, then VeriFone could re-visit some more resistance at $47.82 a share. </p><p>On the flipside, I would avoid VeriFone or look for short-biased trades if it fails to trigger that breakout soon, and then drops below some major near-term support at $34 a share with heavy volume. </p><p>If we get that action, then VeriFone could head back towards $32 to $30 a share. Any future move below its 52-week low of $30.10 a share should be consider bearish price action, since most stocks that print new 52-week lows continue to do so for some time. </p></div>,<div class="group"><p><strong>5. Hudson Global</strong></p><p>Another stock with some interesting insider buying is Hudson Global, which provides specialized professional-level recruitment and related talent solutions worldwide. </p></div>,<div class="group"><p>Insiders are buying this stock into some notable weakness, since shares are off by around 18 percent so far in 2012. </p><p>Hudson Global has a market cap of $143 million and an enterprise value of $113.14 million. </p><p>This stock trades at a reasonable valuation, with a trailing price-to-earnings of 18.71 and a forward price-to-earnings of 12.83. </p><p>Its estimated growth rate for this year is -147.1 percent, and for next year it’s pegged at 318.8 percent. This is a cash-rich company, since the total cash position on its balance sheet is $24.93 million and its total debt is $1.04 million. </p><p>A beneficial owner just bought 112,400 shares, or about $443,000 worth of stock, at $3.95 per share. The same beneficial owner also just bought 150,000 shares, or about $605,000 worth of stock, at $4.03 per share. </p><p>From a technical perspective, Hudson is currently trading above its 50-day moving average and below its 200-day moving averages which is neutral trendwise. </p><p>This stock took a dive off its April high of $5.98 to its recent low of $3.23 a share. During that large move lower, shares of Hudson were consistently making lower highs and lower lows, which is bearish technical price action. </p><p>That said, the stock formed a double bottom in mid-June at around $3.23 to $3.30 a share. Since marking that bottom, shares of Hudson have soared back above its 50-day moving average of $3.96 a share. </p><p>If you’re bullish on Hudson, then I would look for long-biased trades once this stock takes out its 200-day moving average of $4.61 a share with high volume. </p><p>Look for volume on that move that registers near or above its three-month average action of 107,522 shares. </p><p>If we get that move soon, then look for Hudson to trade back towards its next significant overhead resistance levels at $5.72 to $5.98 a share. It’s possible that Hudson could pull back to its 50-day at $3.96 a share before it challenges its 200-day. </p><p>I would simply avoid Hudson if it fails to trigger that breakout, and then moves back below its 50-day moving average at $3.96 and some more near-term support at $3.78 a share with heavy volume. </p><p>If we get that move, then Hudson could easily re-test its previous double bottom price levels at $3.30 to $3.32 a share. Any move below its 52-week low of $3.05 share should be considered bearish technical price action.</p><p><em>—By TheStreet.com Contributor Roberto Pedone</em></p><p><a href="https://www.cnbc.com/2012/04/30/lights-camera-invest-putting-filmmaking-in-the-portfolio.html">Additional News: Lights. Camera. Invest! Putting Filmmaking in the Portfolio </a></p><p><a href="https://www.cnbc.com/2012/07/06/5-stocks-under-10-that-probably-wont-double.html">Additional Views: 5 Stocks Under $10 That Probably Won’t Double</a></p><p>___________________________</p><p><strong><em>CNBC Data Pages:</em></strong></p><ul><li><a href="https://www.cnbc.com/dow-30/">Dow 30 Stocks—In Real Time </a></li><li><a href="https://www.cnbc.com/futures-and-commodities/">Oil, Gold, Natural Gas Prices Now </a></li><li><a href="https://www.cnbc.com/currencies/">Where's the US Dollar Today?</a></li><li><a href="https://www.cnbc.com/bonds/">Track Treasury Prices Here</a></li></ul><p>____________________________ <br><strong><em>Disclosures:</em></strong></p><p>TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks. At the time of publication, Roberto Pedone had no positions in stocks mentioned. </p><p><a href="https://www.cnbc.com/stocks-disclaimer.html">Disclaimer</a></p></div>
Corporate insiders sell their own companies' stock for a number of reasons. They might need the cash for a big personal purchase such as a new house or yacht, or they might need the cash to fund a charity. Sometimes they sell as part of a planned selling program that they have put in place for diversification purposes, which allows them to sell stock in stages instead of selling all at one price. Other times they sell because they think their stock is overvalued and the risk/reward is no longer attractive. Some even dump their own stock because they have inside knowledge that a competitor is eating their lunch and stealing market share. But insiders usually buy their own shares for one reason: They think the stock is a bargain and has tremendous upside.   The key word in that last statement is “think.” Just because a corporate insider thinks his or her stock is going to trade higher, that doesn’t mean it will play out that way. Insiders can have all the conviction in the world that their stock is a buy, but if the market doesn’t agree with them, the stock could end up going nowhere. Also, I say “usually” because sometimes insiders are loaned money by the company to buy their own stock. Those loans are often sweetheart deals and shouldn’t be viewed as organic insider buying. At the end of the day, its large institutional money managers running big mutual funds and hedge funds that drive stock prices, not insiders. That said, many of these savvy stock operators will follow insider buying activity when they agree with the insider that the stock is undervalued and has upside potential. This is why it’s so important to always be monitoring insider activity, but it’s twice as important to make sure the trend of the stock coincides with the insider buying. Recently, a number of companies’ corporate insiders have bought large amounts of stock. These insiders are finding some value in the market, which warrants a closer look at these stocks. Here’s a look at several stocks that insiders have been doing some big guying in per Securities and Exchange Commission filings.1. IMAXOne stock that insiders are snapping up a huge amount of is Imax, which, together with its wholly owned subsidiaries, operates as an entertainment technology company specializing in motion picture technologies and presentations worldwide. Insiders are loading up on this stock into strength, since shares are up a whopping 38 percent so far in 2012. Imax has a market capitalization of $1.67 billion and an enterprise value of $1.62 billion. This stock trades at a premium valuation, with a trailing price-to-earnings of 89 and a forward price-to-earnings of 22.38. Its estimated growth rate for this year is 135 percent, and for next year it’s pegged at 21.3 percent. This is not a cash-rich company, since the total cash position on its balance sheet is $21.59 million, and its total debt is $55 million. A beneficial owner just bought 183,600 shares, or about $4.3 million worth of stock, at $22.62 to $24.11 per share. This same beneficial owner also just bought 326,400 shares, or about $7.49 million worth of stock, at $22.91 to $23.04 per share. From a technical perspective, IMAX is currently trading above both its 50-day and 200-day moving averages, which is bullish. This stock recently bounced right off its 50-day at $22.50 a share, and it has now started enter breakout territory, with the stock moving above some near-term overhead resistance at $25.12 to $25.34 a share. That move started on Tuesday, and it was accompanied by massive upside volume of 3.34 million shares. If you’re bullish on IMAX, then I would look for long-biased trades once it triggers its next major breakout trade above some past overhead resistance levels at $26.48 to $26.68 a share with high volume. Look for volume on that breakout that registers near or above its three-month average action of 1.3 million shares. If we get that move soon, then IMAX could easily spike north of $30 a share. I would avoid IMAX or look for short-baized trades if it fails to hold that near-term breakout over $25.12 to $25.34 a share, and then drops back below its 50-day at $22.50 and 200-day at $21.58 with high volume. If we get that action, then look for IMAX to trend back below $20 a share. 2. Synageva BioPharmaIn the biotechnology and drugs complex, insiders are loading up on Synageva BioPharma, which is focused on the discovery, development and commercialization of therapeutic products for patients with life-threatening rare diseases and unmet medical needs. Insiders are buying this stock into some big-time strength here, since shares are up over 80% so far in 2012. Synageva has a market cap of $1.04 billion and an enterprise value of $903 million. This stock trades at a premium valuation, with a price-to-sales of 235.20 and a price-to-book of 6.85. Its estimated growth rate for this year is 78.6%, and for next year it's pegged at — 51.10 percent. This is a cash-rich company, since the total cash position on its balance sheet is $138.92 million, and its total debt is zero.A director and beneficial owner just bought 886,000 shares, or about $36.5 million worth of stock, at $41.20 per share. Another director also just bought 73,000 shares, or about $3 million worth of stock, at $41.20 per share. From a technical perspective, Synageva is currently trading above both its 50-day and 200-day moving averages, which is bullish. This stock triggered a major breakout trade back in late June once it started to move above some past overhead resistance at $40.38 with massive upside volume. Following that trigger, shares of Synageva pulled back briefly to around $40 a share, and then took off to hit its recent 52-week high of $49.93 a share. That move has started to push Synageva into overbought territory, since its current relative strength index reading is 80.42. If you’re in the bull camp on Synageva, then I would wait for this stock to pullback significantly since it’s extended by almost 10 points above its 50-day moving average of $39.28 a share, and it’s almost 20 points above its 200-day moving average of $30.36 a share. Look for a buying opportunity in Synageva once it pulls back closer to its 50-day moving average of $39.28 a share, at let’s say $42 to $40 a share if we get it. 3. Deckers OutdoorInsiders are also snapping up a large amount of stock in Deckers Outdoor, a designer, producer, marketer, and brand manager of footwear, apparel, and accessories. Insiders are sniffing out some deep value here, since this stock has traded down by over 35 percent so far in 2012. Deckers Outdoor has a market cap of $1.80 billion and an enterprise value of $1.55 billion. This stock trades at a cheap valuation, with a trailing price-to-earnings of 9.79 and a forward price-to-earnings of 8.62. Its estimated growth rate for this year is -11 percent, and for next year it’s pegged at 20.6 percent. This is a cash-rich company, since the total cash position on its balance sheet is $228.57 million, and its total debt is zero. The CEO just bought 10,000 shares, or around $459,000 worth of stock, at $45.90 per share. From a technical perspective, Deckers is currently trading below both its 50-day and 200-day moving averages, which is bearish. This stock has been stuck in a nasty downtrend for the past eight months, with shares plunging from over $118.90 to a recent low of $42.16 a share. During that sharp move lower, shares of Deckers have consistently made lower highs and lower lows, which is bearish technical price action. That said, the stock has started to reverse that trend and make higher lows and some higher highs. That move is quickly pushing Deckers within range of triggering a near-term breakout trade.If you’re bullish on Deckers, then I would look for long-biased trades once this stock manages to clear some near-term overhead resistance at $48.41 a share, and then its 50-day moving average of $50.15 a share with high volume. Look for volume on that move that’s tracking in near or above its three-month average action of 1.9 million shares. If that breakout triggers soon, then Deckers could easily re-test and possibly take out its next significant overhead resistance levels of $54.88 to $59.07 a share. Keep in mind that we will need to see a high-volume trend above its 50-day to have any chance at hitting those targets. On the flipside, I would avoid Deckers or look for short-baized trades if the stock fails to trigger that breakout soon, and then takes out its near-term support zones at $45 to $43.92, plus its 52-week low of $42.15 a share with high volume. If we get that action, then Deckers could slide back below $40 a share if the bears gain full control of this stock. Keep in mind that it’s almost always bearish technical action when a stock continues to print new 52-week lows.4. Verifone SystemsAnother stock that insiders are finding attractive here is business equipment player VeriFone Systems, which is engaged in the secure electronic payment solutions. It provides solutions, and services for the financial, retail, hospitality, petroleum, transportation, government, and health-care vertical markets. Insiders are finding some deep value here, since this stock is down by over 33 percent in the last three months. VeriFone has a market cap of $3.84 billion and an enterprise value of $5.13 billion. This stock trades at a reasonable valuation, with a trailing price-to-earnings of 16.7 and a forward price-to-earnings of 10.96. Its estimated growth rate for this year is 38.5 percent, and for next year it's pegged at 22.2 percent. This is not a cash-rich company, since the total cash position on its balance sheet is $366.40 million, and its total debt is a whopping $1.61 billion. The CEO just bought 155,000 shares, or around $5.03 million worth of stock, at $32.50 per share. From a technical perspective, VeriFone is currently trading below both its 50-day and 200-day moving averages, which is bearish. This stock got hammered back in April, with shares plunging from a high of $55.89 to a recent low of $30.10 a share. During that massive drop, shares of VeriFone were constantly making lower highs and lower lows, which is bearish technical price action. The stock also flashed a number of warning signs to longs with large gap downs on heavy volume. That said, the stock has started to find some buying interest near $30 to $32 a share, and it’s now making higher lows and higher highs. If you’re in the bull camp on VeriFone, I would look for long-biased trades if this stock can manage to trigger a near-term breakout trade above some overhead resistance levels at $36.78 to its 50-day moving average of $36.81 a share with high volume. Look for volume on that move that hits near or above its three-month average volume of 3.6 million shares. If we get that breakout soon, then VeriFone could start to fill a recent gap down that started near $44 a share. Some key levels to watch for are $40 a share which is near the low of the gap down day, and its 200-day moving average of $42.25 a share. If those levels get taken out with volume, then VeriFone could re-visit some more resistance at $47.82 a share. On the flipside, I would avoid VeriFone or look for short-biased trades if it fails to trigger that breakout soon, and then drops below some major near-term support at $34 a share with heavy volume. If we get that action, then VeriFone could head back towards $32 to $30 a share. Any future move below its 52-week low of $30.10 a share should be consider bearish price action, since most stocks that print new 52-week lows continue to do so for some time. 5. Hudson GlobalAnother stock with some interesting insider buying is Hudson Global, which provides specialized professional-level recruitment and related talent solutions worldwide. Insiders are buying this stock into some notable weakness, since shares are off by around 18 percent so far in 2012. Hudson Global has a market cap of $143 million and an enterprise value of $113.14 million. This stock trades at a reasonable valuation, with a trailing price-to-earnings of 18.71 and a forward price-to-earnings of 12.83. Its estimated growth rate for this year is -147.1 percent, and for next year it’s pegged at 318.8 percent. This is a cash-rich company, since the total cash position on its balance sheet is $24.93 million and its total debt is $1.04 million. A beneficial owner just bought 112,400 shares, or about $443,000 worth of stock, at $3.95 per share. The same beneficial owner also just bought 150,000 shares, or about $605,000 worth of stock, at $4.03 per share. From a technical perspective, Hudson is currently trading above its 50-day moving average and below its 200-day moving averages which is neutral trendwise. This stock took a dive off its April high of $5.98 to its recent low of $3.23 a share. During that large move lower, shares of Hudson were consistently making lower highs and lower lows, which is bearish technical price action. That said, the stock formed a double bottom in mid-June at around $3.23 to $3.30 a share. Since marking that bottom, shares of Hudson have soared back above its 50-day moving average of $3.96 a share. If you’re bullish on Hudson, then I would look for long-biased trades once this stock takes out its 200-day moving average of $4.61 a share with high volume. Look for volume on that move that registers near or above its three-month average action of 107,522 shares. If we get that move soon, then look for Hudson to trade back towards its next significant overhead resistance levels at $5.72 to $5.98 a share. It’s possible that Hudson could pull back to its 50-day at $3.96 a share before it challenges its 200-day. I would simply avoid Hudson if it fails to trigger that breakout, and then moves back below its 50-day moving average at $3.96 and some more near-term support at $3.78 a share with heavy volume. If we get that move, then Hudson could easily re-test its previous double bottom price levels at $3.30 to $3.32 a share. Any move below its 52-week low of $3.05 share should be considered bearish technical price action.—By TheStreet.com Contributor Roberto PedoneAdditional News: Lights. Camera. Invest! Putting Filmmaking in the Portfolio Additional Views: 5 Stocks Under $10 That Probably Won’t Double___________________________CNBC Data Pages:Dow 30 Stocks—In Real Time Oil, Gold, Natural Gas Prices Now Where's the US Dollar Today?Track Treasury Prices Here____________________________ Disclosures:TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks. At the time of publication, Roberto Pedone had no positions in stocks mentioned. Disclaimer
2021-10-30 14:11:34.228450
Cocaine Traces Found in Up to 90% of US Paper Money
https://www.cnbc.com/2009/08/17/cocaine-traces-found-in-up-to-90-of-us-paper-money.html
2009-08-17T18:49:35+0000
null
CNBC
Up to 90 percent of paper money in the United States contains traces of cocaine, according to a study by the American Chemical Society released Monday.
cnbc, Articles, Business News, Economy, US Economy, US: News, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1354732729
<div class="group"><p>Up to 90 percent of paper money in the United States contains traces of cocaine, according to a study by the American Chemical Society released Monday.</p></div>,<div class="group"><p>Scientests analyzed currency in more than 30 cities in five countries, and the US and Canada posted the highest levels of contamination, according to the study. China and Japan posted the lowest levels of contamination, between 12 and 20 percent.</p><div style="height:100%" class="lazyload-placeholder"></div><p>On a global level, cocaine traces jumped almost 20 percent compared to a similar study conducted two years ago, said Yuegang Zuo of the University of Massachusetts in Dartmouth.</p><p>"I'm not sure why we've seen this apparent increase, but it could be related to the economic downturn, with stressed people turning to cocaine," Zuo said in a press release.</p><p>The scientists studied 234 bills from the US, which came from 17 cities. Money from larger cities, such as Boston and Washington, D.C., contained the most cocaine.</p><p>Although a high percentage of the money was contaminated, the amount was not significant enough to raise any health concerns, Zuo said.</p><p>"For the most part, you can't get high by sniffing a regular banknote, unless it was used directly in drug uptake or during a drug exchange," he said.</p></div>
Up to 90 percent of paper money in the United States contains traces of cocaine, according to a study by the American Chemical Society released Monday.Scientests analyzed currency in more than 30 cities in five countries, and the US and Canada posted the highest levels of contamination, according to the study. China and Japan posted the lowest levels of contamination, between 12 and 20 percent.On a global level, cocaine traces jumped almost 20 percent compared to a similar study conducted two years ago, said Yuegang Zuo of the University of Massachusetts in Dartmouth."I'm not sure why we've seen this apparent increase, but it could be related to the economic downturn, with stressed people turning to cocaine," Zuo said in a press release.The scientists studied 234 bills from the US, which came from 17 cities. Money from larger cities, such as Boston and Washington, D.C., contained the most cocaine.Although a high percentage of the money was contaminated, the amount was not significant enough to raise any health concerns, Zuo said."For the most part, you can't get high by sniffing a regular banknote, unless it was used directly in drug uptake or during a drug exchange," he said.
2021-10-30 14:11:34.387393
Democratic presidential hopefuls commemorate the Martin Luther King Jr. holiday
https://www.cnbc.com/2019/01/21/democratic-presidential-hopefuls-honor-martin-luther-king-jr-holiday.html
2019-01-21T14:51:25+0000
null
CNBC
As Americans commemorate Martin Luther King Jr.'s contributions to the nation, Democratic presidential hopefuls are fanning out across the country to honor the civil rights leader.
cnbc, Articles, U.S. Democratic Party, White House, Elizabeth Warren, Mike Bloomberg, Joe Biden, Bernie Sanders, Cory Booker, Elections, Politics, US: News, source:tagname:The Associated Press
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<div class="group"><p>As Americans commemorate Martin Luther King Jr.'s contributions to the nation, Democratic presidential hopefuls are fanning out across the country to honor the civil rights leader.</p></div>,<div class="group"><p>Sen. Kamala Harris, D-Calif., used the holiday to <a href="https://www.cnbc.com/2019/01/21/democratic-us-senator-kamala-harris-jumps-into-2020-white-house-race.html">launch a presidential campaign</a> that, if successful, would make her the first woman and the second black candidate to become president.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Meanwhile, an annual rally to observe King's birthday held in the capital of South Carolina, a critical early-voting state in the Democratic primary, will feature two senators expected to seek the White House in 2020, <a href="https://www.cnbc.com/cory-booker/">Cory Booker</a> of New Jersey and <a href="https://www.cnbc.com/bernie-sanders/">Bernie Sanders</a> of Vermont.</p><p>Former Vice President <a href="https://www.cnbc.com/joe-biden/">Joe Biden</a>, who's weighing his own presidential bid, is set to speak at a King holiday event in Washington alongside former New York mayor and possible 2020 rival <a href="https://www.cnbc.com/mike-bloomberg/">Michael Bloomberg</a>. Two candidates who have already opened exploratory committees — Sens. <a href="https://www.cnbc.com/elizabeth-warren/">Elizabeth Warren</a> of Massachusetts and <a href="https://www.cnbc.com/kirsten-gillibrand/">Kirsten Gillibrand</a> of New York — will also appear at King-centered events.</p><p>While the Democratic field for 2020 is only beginning to take shape, the year that would have marked King's 90th birthday gives the party's prominent members a valuable opportunity to address race and, potentially, draw a contrast between their own views and those of President Donald Trump, whose approach to questions of racial justice has sparked criticism from multiple minority groups since he took office.</p><p>How Democratic contenders, both those officially in the race and those still mulling campaigns, celebrated the King holiday:</p></div>,<div class="group"><p>Harris, a first-term senator and former California attorney general known for her rigorous questioning of Trump's nominees, opened the holiday by declaring her bid on ABC's "Good Morning America." She abandoned the formality of launching an exploratory committee, instead going all in on a presidential campaign.</p><div style="height:100%" class="lazyload-placeholder"></div></div>,<div class="group"><p>"I love my country," she said when asked what qualifies her for the presidency. "And this is a moment in time that I feel a sense of responsibility to stand up and fight for the best of who we are. And that fight will always include, as one of the highest priorities, our national security."</p><p>Harris, 54, grew up in Oakland, California, a daughter of parents from Jamaica and India who were active in the civil rights movement.</p><p>King, she said, "was aspirational, like our country is aspirational. We know that we've not yet reached those ideals, but our strength is that we fight to reach those ideals. And that inspires me because it is true that we are a country that, yes, we are flawed, we are not perfect, but we are a great country when we think about the principles upon which we are founded."</p><p>Harris also cited her years as a prosecutor in asserting: "My entire career has been focused on keeping people safe. It is probably one of the things that motivates me more than anything else."</p><p>The senator plans a formal campaign launch in Oakland in a week and will have her headquarters in Baltimore. She's already planning her first trip to an early primary state as a declared candidate. On Friday, Harris will travel to South Carolina to attend the Pink Ice Gala in Columbia, which is hosted by a South Carolina chapter of the Alpha Kappa Alpha Sorority, which Harris pledged as an undergraduate student at Howard University. The sorority, founded more than 100 years ago, is a stronghold in the black community.<br></p></div>
As Americans commemorate Martin Luther King Jr.'s contributions to the nation, Democratic presidential hopefuls are fanning out across the country to honor the civil rights leader.Sen. Kamala Harris, D-Calif., used the holiday to launch a presidential campaign that, if successful, would make her the first woman and the second black candidate to become president.Meanwhile, an annual rally to observe King's birthday held in the capital of South Carolina, a critical early-voting state in the Democratic primary, will feature two senators expected to seek the White House in 2020, Cory Booker of New Jersey and Bernie Sanders of Vermont.Former Vice President Joe Biden, who's weighing his own presidential bid, is set to speak at a King holiday event in Washington alongside former New York mayor and possible 2020 rival Michael Bloomberg. Two candidates who have already opened exploratory committees — Sens. Elizabeth Warren of Massachusetts and Kirsten Gillibrand of New York — will also appear at King-centered events.While the Democratic field for 2020 is only beginning to take shape, the year that would have marked King's 90th birthday gives the party's prominent members a valuable opportunity to address race and, potentially, draw a contrast between their own views and those of President Donald Trump, whose approach to questions of racial justice has sparked criticism from multiple minority groups since he took office.How Democratic contenders, both those officially in the race and those still mulling campaigns, celebrated the King holiday:Harris, a first-term senator and former California attorney general known for her rigorous questioning of Trump's nominees, opened the holiday by declaring her bid on ABC's "Good Morning America." She abandoned the formality of launching an exploratory committee, instead going all in on a presidential campaign."I love my country," she said when asked what qualifies her for the presidency. "And this is a moment in time that I feel a sense of responsibility to stand up and fight for the best of who we are. And that fight will always include, as one of the highest priorities, our national security."Harris, 54, grew up in Oakland, California, a daughter of parents from Jamaica and India who were active in the civil rights movement.King, she said, "was aspirational, like our country is aspirational. We know that we've not yet reached those ideals, but our strength is that we fight to reach those ideals. And that inspires me because it is true that we are a country that, yes, we are flawed, we are not perfect, but we are a great country when we think about the principles upon which we are founded."Harris also cited her years as a prosecutor in asserting: "My entire career has been focused on keeping people safe. It is probably one of the things that motivates me more than anything else."The senator plans a formal campaign launch in Oakland in a week and will have her headquarters in Baltimore. She's already planning her first trip to an early primary state as a declared candidate. On Friday, Harris will travel to South Carolina to attend the Pink Ice Gala in Columbia, which is hosted by a South Carolina chapter of the Alpha Kappa Alpha Sorority, which Harris pledged as an undergraduate student at Howard University. The sorority, founded more than 100 years ago, is a stronghold in the black community.
2021-10-30 14:11:34.422408
John Edwards: Is He The New Robert F. Kennedy?
https://www.cnbc.com/2007/07/18/john-edwards-is-he-the-new-robert-f-kennedy.html
2007-07-18T18:09:35+0000
John Harwood
CNBC
In mimicking Robert F. Kennedy's 1967 tour through impoverished American communities, John Edwards strikes a resonant chord with me. My father covered that Kennedy trip for the Washington Post. A photo from that experience hangs on the wall in the kitchen of my family home. But is he the Bobby Kennedyof the 2008 presidential race?Certainly the former North Carolina senator would like to be--and with good reason. RFK, in a different way than his brother JFK,has become a mythic Democratic hero. He had an ability to appeal across racial and income lines in ways any thinking Democrat could want to emulate. Some of the comparisons are apt. John Edwards has drawn flak forhis work with the Fortress Investment Group hedge fundand his $400 haircuts. Kennedy was a rich man too. Notwithstanding our sustained economic growth and booming stock market, poverty rates remain comparable to levels of a generation ago; in the most recent Census Data, from 2005, slightly more than 12 percent of the population is poor. The poverty population has become younger, as Medicare and Social Security have dramatically reduced economic deprivation among the elderly. Poverty among whites has fallen substantially, but they represent a declining proportion of the overall population. Just as RFK was in his day, Edwards stands widely accused of political opportunism. He likes to say that he's emphasizing poverty issues against the prevailing wisdom of political consultants, since there's little political upside in appealing to the poor when middle class votes and upscale executives' political contributions drive U.S. elections. In fact, there's a very large political benefit in championing the poor among Democratic primary voters. But Edwards has at least three big problems in trying to replicate Kennedy's political feat. One is that Barack Obama--the first African American candidate with a real shot at becoming president -- is for many voters already filling the RFK roles for many voters of both races. A second is that immigration has made Hispanic voters a growing proportion of the Democratic primary electorate, and so far Hispanic voters have flocked to Hillary Clinton. The third is that the composition of the Democratic electorate has changed. Many of the blue-collar Democrats Kennedy appealed to are now Republicans, drawn by the GOP's appear on social issues or security concerns. That leaves Democrats more dependent than ever on both the top of the income scale as well as the bottom; Democrats nearly broke even in 2006 among voters earning more than $100,000 a year. Edwards aims to appeal to both upscale and downscale voters at the same time. Despite his work at Fortress, he led other top Democratic candidates in embracing higher taxes on private equity and hedge fund managers. He's also pushing universal health care and a tougher line on U.S. trade policy. One early sign of the viability of his strategy will come in his third quarter fund-raising. So far he boasts some loyal allies from American business; wealthy telecommunications executive Leo Hindery is a top economic adviser. Tune in to CNBC's "Street Signs" this afternoon at 2:30, and we'll explore Hindery's assessment of the top populist in the Democratic race. Fyi: It's good to be back blogging after my vacation. However, I will be out on some family business unitil the end of the week--but new posts will be here next week.Questions?  Comments?  Write to [email protected].
cnbc, Articles, Political Capital, source:tagname:CNBC US Source
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<div class="group"><p>In mimicking Robert F. Kennedy's 1967 tour through impoverished American communities, <a href="http://johnedwards.com/splash/" target="_blank">John Edwards</a> strikes a resonant chord with me. My father covered that Kennedy trip for the Washington Post. A photo from that experience hangs on the wall in the kitchen of my family home. But is he the <a href="http://www.answers.com/topic/robert-f-kennedy" target="_blank">Bobby Kennedy</a>of the 2008 presidential race?</p><p>Certainly the former North Carolina senator would like to be--and with good reason. RFK, in a different way than his brother <a href="http://www.whitehouse.gov/history/presidents/jk35.html" target="_blank">JFK,</a>has become a mythic Democratic hero. He had an ability to appeal across racial and income lines in ways any thinking Democrat could want to emulate. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Some of the comparisons are apt. John Edwards has drawn flak for<a href="http://www.washingtonpost.com/wp-dyn/content/article/2007/04/22/AR2007042201339.html" target="_blank">his work with the Fortress Investment Group hedge fund</a>and his <a href="http://www.qctimes.com/articles/2007/04/19/news/local/doc4626f3bd6f2f2920813459.txt" target="_blank">$400 haircuts.</a> Kennedy was a rich man too. Notwithstanding our sustained economic growth and booming stock market, poverty rates remain comparable to levels of a generation ago; in the most recent Census Data, from 2005, slightly more than 12 percent of the population is poor. The poverty population has become younger, as Medicare and Social Security have dramatically reduced economic deprivation among the elderly. Poverty among whites has fallen substantially, but they represent a declining proportion of the overall population. </p><p>Just as RFK was in his day, Edwards stands widely accused of political opportunism. He likes to say that he's emphasizing poverty issues against the prevailing wisdom of political consultants, since there's little political upside in appealing to the poor when middle class votes and upscale executives' political contributions drive U.S. elections. In fact, there's a very large political benefit in championing the poor among Democratic primary voters. </p><p>But Edwards has at least three big problems in trying to replicate Kennedy's political feat. One is that <a href="http://www.barackobama.com/" target="_blank">Barack Obama--</a>the first African American candidate with a real shot at becoming president -- is for many voters already filling the RFK roles for many voters of both races. A second is that immigration has made Hispanic voters a growing proportion of the Democratic primary electorate, and so far Hispanic voters have flocked to <a href="http://clinton.senate.gov/" target="_blank">Hillary Clinton</a><strong>. </strong></p><p>The third is that the composition of the Democratic electorate has changed. Many of the blue-collar Democrats Kennedy appealed to are now Republicans, drawn by the GOP's appear on social issues or security concerns. That leaves Democrats more dependent than ever on both the top of the income scale as well as the bottom; Democrats nearly broke even in 2006 among voters earning more than $100,000 a year. </p><p>Edwards aims to appeal to both upscale and downscale voters at the same time. Despite his work at Fortress, he led other top Democratic candidates in embracing higher taxes on private equity and hedge fund managers. He's also pushing universal health care and a tougher line on U.S. trade policy. One early sign of the viability of his strategy will come in his third quarter fund-raising. </p><div style="height:100%" class="lazyload-placeholder"></div><p>So far he boasts some loyal allies from American business; wealthy telecommunications executive <a href="http://www.dkosopedia.com/wiki/Leo_Hindery" target="_blank">Leo Hindery</a> is a top economic adviser. Tune in to CNBC's "Street Signs" this afternoon at 2:30, and we'll explore Hindery's assessment of the top populist in the Democratic race. </p><p><em>Fyi: It's good to be back blogging after my vacation. However, I will be out on some family business unitil the end of the week--but new posts will be here next week.</em></p><p><em>Questions?  Comments?  Write to <a href="mailto:[email protected]" class="webresource" target="_blank">[email protected]</a>.</em></p></div>
In mimicking Robert F. Kennedy's 1967 tour through impoverished American communities, John Edwards strikes a resonant chord with me. My father covered that Kennedy trip for the Washington Post. A photo from that experience hangs on the wall in the kitchen of my family home. But is he the Bobby Kennedyof the 2008 presidential race?Certainly the former North Carolina senator would like to be--and with good reason. RFK, in a different way than his brother JFK,has become a mythic Democratic hero. He had an ability to appeal across racial and income lines in ways any thinking Democrat could want to emulate. Some of the comparisons are apt. John Edwards has drawn flak forhis work with the Fortress Investment Group hedge fundand his $400 haircuts. Kennedy was a rich man too. Notwithstanding our sustained economic growth and booming stock market, poverty rates remain comparable to levels of a generation ago; in the most recent Census Data, from 2005, slightly more than 12 percent of the population is poor. The poverty population has become younger, as Medicare and Social Security have dramatically reduced economic deprivation among the elderly. Poverty among whites has fallen substantially, but they represent a declining proportion of the overall population. Just as RFK was in his day, Edwards stands widely accused of political opportunism. He likes to say that he's emphasizing poverty issues against the prevailing wisdom of political consultants, since there's little political upside in appealing to the poor when middle class votes and upscale executives' political contributions drive U.S. elections. In fact, there's a very large political benefit in championing the poor among Democratic primary voters. But Edwards has at least three big problems in trying to replicate Kennedy's political feat. One is that Barack Obama--the first African American candidate with a real shot at becoming president -- is for many voters already filling the RFK roles for many voters of both races. A second is that immigration has made Hispanic voters a growing proportion of the Democratic primary electorate, and so far Hispanic voters have flocked to Hillary Clinton. The third is that the composition of the Democratic electorate has changed. Many of the blue-collar Democrats Kennedy appealed to are now Republicans, drawn by the GOP's appear on social issues or security concerns. That leaves Democrats more dependent than ever on both the top of the income scale as well as the bottom; Democrats nearly broke even in 2006 among voters earning more than $100,000 a year. Edwards aims to appeal to both upscale and downscale voters at the same time. Despite his work at Fortress, he led other top Democratic candidates in embracing higher taxes on private equity and hedge fund managers. He's also pushing universal health care and a tougher line on U.S. trade policy. One early sign of the viability of his strategy will come in his third quarter fund-raising. So far he boasts some loyal allies from American business; wealthy telecommunications executive Leo Hindery is a top economic adviser. Tune in to CNBC's "Street Signs" this afternoon at 2:30, and we'll explore Hindery's assessment of the top populist in the Democratic race. Fyi: It's good to be back blogging after my vacation. However, I will be out on some family business unitil the end of the week--but new posts will be here next week.Questions?  Comments?  Write to [email protected].
2021-10-30 14:11:34.576430
10-year Treasury yield falls to 0.8% as investors return to safety amid pause in stock rally
https://www.cnbc.com/2020/06/09/treasury-yields-fade-as-fed-meeting-comes-into-focus.html
2020-06-09T06:27:35+0000
Elliot Smith
CNBC
Treasury yields fell on Tuesday as the massive stock rally hit a pause. Investors also awaited the Federal Reserve's monetary policy decision.
cnbc, Articles, Breaking News: Markets, Bonds, Central banking, World Markets, Bitcoin, Markets, U.S. 10 Year Treasury, U.S. 2 Year Treasury, U.S. 5 Year Treasury, iShares Core U.S. Aggregate Bond ETF, Vanguard Total Bond Market Index Fund ETF Shares, U.S. 30 Year Treasury, US Economy, Central Banks, U.S. Markets, US: News, source:tagname:CNBC Europe Source
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<div class="group"><p><a href="https://www.cnbc.com/bonds/">Treasury</a> yields fell on Tuesday as the massive stock rally hit a pause. Investors also awaited the Federal Reserve's monetary policy decision.</p></div>,<div class="group"><p>The yield on the benchmark <a href="https://www.cnbc.com/quotes/US10Y">10-year Treasury note</a> dropped 7 basis points to 0.81% and the yield on the <a href="https://www.cnbc.com/quotes/US30Y">30-year bond</a> was down 9 basis points at 1.56%. Yields move inversely to prices.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The Federal Open Market Committee (FOMC) meets Tuesday and will announce its latest monetary policy decision on Wednesday. While markets expect short-term interest rates to remain steady at near zero, investors will be watching Fed Chairman Jerome Powell's statement for clues over the central bank's next move.</p><p>Powell intimated at last month's meeting that more stimulus could be necessary to mitigate the impact of the coronavirus pandemic. The Fed has already deployed an unprecedented barrage of rate cuts and credit and lending programs which could inject around $6 trillion into the economy.</p><p>The <a href="https://www.cnbc.com/2020/06/08/the-us-entered-a-recession-in-february-according-to-the-official-economic-arbiter.html">National Bureau of Economic Research officially confirmed on Monday</a> that the U.S. economy peaked in February, signaling the end to the longest economic expansion in American history, which began in June 2009.</p></div>,<div class="group"><p>Market focus is also attuned to states' efforts to reopen their economies amid the coronavirus pandemic, which has now infected more than 1.9 million Americans and more than 7 million people worldwide.</p><p>The World Health Organization (WHO) on Monday warned that <a href="https://www.cnbc.com/2020/06/08/who-warns-most-people-still-at-risk-of-coronavirus-infection-as-mass-gatherings-resume-worldwide.html">the pandemic is "far from over"</a> after a record number of new daily cases, and suggested that the virus has yet to peak in Central America.</p><div style="height:100%" class="lazyload-placeholder"></div><p>On the economic data front, the IBD/TIPP economic optimism survey for June is expected at 10 a.m. ET Tuesday, along with April JOLTs job openings and wholesale inventory figures.</p><p>Auctions will be held Tuesday for $40 billion of 119-day Treasury bills, $60 billion of 42-day bills and $29 billion of 10-year notes.</p></div>
Treasury yields fell on Tuesday as the massive stock rally hit a pause. Investors also awaited the Federal Reserve's monetary policy decision.The yield on the benchmark 10-year Treasury note dropped 7 basis points to 0.81% and the yield on the 30-year bond was down 9 basis points at 1.56%. Yields move inversely to prices.The Federal Open Market Committee (FOMC) meets Tuesday and will announce its latest monetary policy decision on Wednesday. While markets expect short-term interest rates to remain steady at near zero, investors will be watching Fed Chairman Jerome Powell's statement for clues over the central bank's next move.Powell intimated at last month's meeting that more stimulus could be necessary to mitigate the impact of the coronavirus pandemic. The Fed has already deployed an unprecedented barrage of rate cuts and credit and lending programs which could inject around $6 trillion into the economy.The National Bureau of Economic Research officially confirmed on Monday that the U.S. economy peaked in February, signaling the end to the longest economic expansion in American history, which began in June 2009.Market focus is also attuned to states' efforts to reopen their economies amid the coronavirus pandemic, which has now infected more than 1.9 million Americans and more than 7 million people worldwide.The World Health Organization (WHO) on Monday warned that the pandemic is "far from over" after a record number of new daily cases, and suggested that the virus has yet to peak in Central America.On the economic data front, the IBD/TIPP economic optimism survey for June is expected at 10 a.m. ET Tuesday, along with April JOLTs job openings and wholesale inventory figures.Auctions will be held Tuesday for $40 billion of 119-day Treasury bills, $60 billion of 42-day bills and $29 billion of 10-year notes.
2021-10-30 14:11:34.791737
Cramer adds new stocks, recommends buying 12 laggards in his Covid-19 index
https://www.cnbc.com/2020/06/29/cramer-adds-new-stocks-recommends-buying-12-laggards-in-his-covid-19-index.html
2020-06-29T23:01:54+0000
Tyler Clifford
CNBC
CNBC's Jim Cramer on Monday reviewed and made changes to his pandemic playbook to bring more diversification to his coronavirus index.The Cramer Covid-19 Index, a basket of 100 stocks he determined can work in a coronavirus-plagued market, has outgained the major indexes since Cramer last updated the stock catalog."When you look at the biggest winners in the index, they're overwhelmingly tech companies that help facilitate the stay-at-home economy, and a lot of these got hit today," the "Mad Money" host said.Cramer dropped two health-based stocks and one packaged foods company to make room for two cloud-based names and one gold business. VMware, Fastly and Newmont Mining were substituted for Baxter International, GlaxoSmithKline and Kellogg.Baxter, a medical supplies company, was removed because of its high exposure to voluntary surgeries delayed by the impact of the health crisis on hospitals. GlaxoSmithKline, a drug company that's working on a Covid-19 vaccine, was taken off because the stock is "not enticing many investors," Cramer said. Kellogg, the cereal producing giant, was axed because the stock is lagging and the Cramer index already contains seven other similar plays.As for the new additions, Cramer added VMware, one of his cloud king stocks, because the stock is "cheap on an earnings basis" and the prospect that the company could be spun off from Dell. Fastly, a cloud content delivery network whose stock price has increased sevenfold since bottoming in March, is one that in hindsight Cramer wishes he included when he created the index in April. Newmont is a gold company that can provide investors "more insurance against economic chaos" as the country continues to deal with fallout from the coronavirus crisis, he said.The biggest winners on Crammer's list – Zoom Video, Spotify, Zscaler, DocuSign, Etsy, The Trade Desk, Livongo Health, Square, Peloton and Cloudflare – are among the top plays in the stay-at-home economy."As the pandemic flares up again, get ready after the industrial rotation ends. It's time to circle back to the blue-chip Covid stocks that are still way off their highs. That's what offers the best risk-reward," he said. "I love a rotation. They throw out the good, they buy the bad and then they change their mind two days later."
cnbc, Articles, Business, Investment strategy, Jim Cramer, Personal investing, Stock markets, Markets, Spotify Technology SA, Peloton Interactive Inc, Square Inc, Livongo Health, Trade Desk Inc, ETSY Inc, DocuSign Inc, Zscaler Inc, Baxter International Inc, Zoom Video Communications Inc, Kellogg Co, GlaxoSmithKline PLC, Newmont Corporation, Fastly Inc, VMware Inc, Mad Covid-19 Index, Cloudflare Inc, Dow Jones Industrial Average, S&P 500 Index, NASDAQ Composite, NASDAQ 100 Index, Russell 2000 Index, Coronavirus: Business, Investing, Business News, U.S. Business Day, U.S. Markets, S&P 500, stocks, Stock Picks, Investment Strategy, Coronavirus-related stocks, CNBC TV, Mad Money, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1568150302
<div class="group"><p>CNBC's <a href="https://www.cnbc.com/jim-cramer-bio/">Jim Cramer</a> on Monday reviewed and made changes to his pandemic playbook to bring more diversification to his coronavirus index.</p><p>The <a href="https://www.cnbc.com/quotes/.CCOVID19">Cramer Covid-19 Index</a>, a basket of 100 stocks he determined can work in a coronavirus-plagued market, has outgained the major indexes since Cramer last updated the stock catalog.</p><div style="height:100%" class="lazyload-placeholder"></div><p>"When you look at the biggest winners in the index, they're overwhelmingly tech companies that help facilitate the stay-at-home economy, and a lot of these got hit today," the "<a href="https://www.cnbc.com/mad-money/">Mad Money</a>" host said.</p><p>Cramer dropped two health-based stocks and one packaged foods company to make room for two cloud-based names and one gold business. <a href="//www.cnbc.com/quotes/VMW" target="_blank">VMware</a>, <a href="//www.cnbc.com/quotes/FSLY" target="_blank">Fastly</a> and <a href="//www.cnbc.com/quotes/NEM" target="_blank">Newmont Mining</a> were substituted for <a href="//www.cnbc.com/quotes/BAX" target="_blank">Baxter International</a>, <a href="//www.cnbc.com/quotes/GSK-GB" target="_blank">GlaxoSmithKline</a> and <a href="//www.cnbc.com/quotes/K" target="_blank">Kellogg</a>.</p><p>Baxter, a medical supplies company, was removed because of its high exposure to voluntary surgeries delayed by the impact of the health crisis on hospitals. GlaxoSmithKline, a drug company that's working on a Covid-19 vaccine, was taken off because the stock is "not enticing many investors," Cramer said. Kellogg, the cereal producing giant, was axed because the stock is lagging and the Cramer index already contains seven other similar plays.</p><p>As for the new additions, Cramer added VMware, one of his cloud king stocks, because the stock is "cheap on an earnings basis" and the prospect that the company could be spun off from Dell. Fastly, a cloud content delivery network whose stock price has increased sevenfold since bottoming in March, is one that in hindsight Cramer wishes he included when he created the index in April. Newmont is a gold company that can provide investors "more insurance against economic chaos" as the country continues to deal with fallout from the coronavirus crisis, he said.</p><p>The biggest winners on Crammer's list – <a href="//www.cnbc.com/quotes/ZM" target="_blank">Zoom Video</a>, <a href="//www.cnbc.com/quotes/SPOT" target="_blank">Spotify</a>, <a href="//www.cnbc.com/quotes/ZS" target="_blank">Zscaler</a>, <a href="//www.cnbc.com/quotes/DOCU" target="_blank">DocuSign</a>, <a href="//www.cnbc.com/quotes/ETSY" target="_blank">Etsy</a>, <a href="//www.cnbc.com/quotes/TTD" target="_blank">The Trade Desk</a>, <a href="//www.cnbc.com/quotes/LVGO-MX" target="_blank">Livongo Health</a>, <a href="//www.cnbc.com/quotes/SQ" target="_blank">Square</a>, <a href="//www.cnbc.com/quotes/PTON" target="_blank">Peloton</a> and <a href="//www.cnbc.com/quotes/NET" target="_blank">Cloudflare</a> – are among the top plays in the stay-at-home economy.</p><div style="height:100%" class="lazyload-placeholder"></div><p>"As the pandemic flares up again, get ready after the industrial rotation ends. It's time to circle back to the blue-chip Covid stocks that are still way off their highs. That's what offers the best risk-reward," he said. "I love a rotation. They throw out the good, they buy the bad and then they change their mind two days later."</p></div>,<div class="group"><p>Cramer last <a href="https://www.cnbc.com/2020/05/26/cramer-shakes-up-his-covid-19-index-wall-street-is-more-confident.html">updated his coronavirus playbook in late May</a> when investors were growing more convinced that the economy was headed for a V-shape recovery as states eased lockdown orders. The host said then, however, that it was "too soon to give up on the recession stocks" as he showed 10 stocks the exit and brought 10 others onto his stock index that was designed to outperform the market through the pandemic.</p><p>"Since we adjusted the index a little over a month ago, it's rallied 6.4%. Meanwhile, the <a href="https://www.cnbc.com/quotes/.DJI">Dow</a> [is] up 4.6%; <a href="https://www.cnbc.com/quotes/.SPX">S&amp;P</a>'s only up 3.3%. <a href="https://www.cnbc.com/quotes/.IXIC">Nasdaq Composite</a> and <a href="https://www.cnbc.com/quotes/.NDX">NASDAQ 100</a>, though, have both rallied 5.8%," Cramer said. "<a href="https://www.cnbc.com/quotes/.RUT">Russell 2000</a> small-cap index has also underperformed of late, although got some good mojo today — gained 4.8% over the same period — but only after that big rally today, which is exactly what you'd expect with the pandemic once again spiraling out of control."</p></div>,<div class="group"><p><a href="https://www.cnbc.com/mad-money-disclaimer/">Disclaimer</a></p><div class="ArticleBody-blockquote"><p>Questions for Cramer?<br> Call Cramer: 1-800-743-CNBC</p><p>Want to take a deep dive into Cramer's world? Hit him up!<br> <a href="https://twitter.com/MadMoneyOnCNBC" target="_blank">Mad Money Twitter</a> - <a href="https://twitter.com/jimcramer" target="_blank">Jim Cramer Twitter</a> - <a href="https://www.facebook.com/madmoney?ref=aymt_homepage_panel" target="_blank">Facebook</a> - <a href="http://instagram.com/jimcramer" target="_blank">Instagram</a></p><p>Questions, comments, suggestions for the "Mad Money" website? [email protected]</p></div></div>
CNBC's Jim Cramer on Monday reviewed and made changes to his pandemic playbook to bring more diversification to his coronavirus index.The Cramer Covid-19 Index, a basket of 100 stocks he determined can work in a coronavirus-plagued market, has outgained the major indexes since Cramer last updated the stock catalog."When you look at the biggest winners in the index, they're overwhelmingly tech companies that help facilitate the stay-at-home economy, and a lot of these got hit today," the "Mad Money" host said.Cramer dropped two health-based stocks and one packaged foods company to make room for two cloud-based names and one gold business. VMware, Fastly and Newmont Mining were substituted for Baxter International, GlaxoSmithKline and Kellogg.Baxter, a medical supplies company, was removed because of its high exposure to voluntary surgeries delayed by the impact of the health crisis on hospitals. GlaxoSmithKline, a drug company that's working on a Covid-19 vaccine, was taken off because the stock is "not enticing many investors," Cramer said. Kellogg, the cereal producing giant, was axed because the stock is lagging and the Cramer index already contains seven other similar plays.As for the new additions, Cramer added VMware, one of his cloud king stocks, because the stock is "cheap on an earnings basis" and the prospect that the company could be spun off from Dell. Fastly, a cloud content delivery network whose stock price has increased sevenfold since bottoming in March, is one that in hindsight Cramer wishes he included when he created the index in April. Newmont is a gold company that can provide investors "more insurance against economic chaos" as the country continues to deal with fallout from the coronavirus crisis, he said.The biggest winners on Crammer's list – Zoom Video, Spotify, Zscaler, DocuSign, Etsy, The Trade Desk, Livongo Health, Square, Peloton and Cloudflare – are among the top plays in the stay-at-home economy."As the pandemic flares up again, get ready after the industrial rotation ends. It's time to circle back to the blue-chip Covid stocks that are still way off their highs. That's what offers the best risk-reward," he said. "I love a rotation. They throw out the good, they buy the bad and then they change their mind two days later."Cramer last updated his coronavirus playbook in late May when investors were growing more convinced that the economy was headed for a V-shape recovery as states eased lockdown orders. The host said then, however, that it was "too soon to give up on the recession stocks" as he showed 10 stocks the exit and brought 10 others onto his stock index that was designed to outperform the market through the pandemic."Since we adjusted the index a little over a month ago, it's rallied 6.4%. Meanwhile, the Dow [is] up 4.6%; S&P's only up 3.3%. Nasdaq Composite and NASDAQ 100, though, have both rallied 5.8%," Cramer said. "Russell 2000 small-cap index has also underperformed of late, although got some good mojo today — gained 4.8% over the same period — but only after that big rally today, which is exactly what you'd expect with the pandemic once again spiraling out of control."DisclaimerQuestions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer's world? Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - InstagramQuestions, comments, suggestions for the "Mad Money" website? [email protected]
2021-10-30 14:11:35.033251
Baseball Hall of Fame Presented With One-of-a-Kind Babe Ruth Painting Donated by Aaron's, Inc.
https://www.cnbc.com/2012/10/01/baseball-hall-of-fame-presented-with-oneofakind-babe-ruth-painting-donated-by-aarons-inc.html
2012-10-01T20:39:00+0000
null
CNBC
null
cnbc, Articles, Ukraine, Europe, Texas, New York City, New York, Mississippi, Georgia, Atlanta, George W. Bush, North America, United States, Canada, United Kingdom, Eastern Europe, Press Releases, CNBC Information and Policies, CNBC: News Releases, source:tagname:PR Newswire
https://sc.cnbcfm.com/ap…1804&w=720&h=405
<div class="group"><div><p>COOPERSTOWN, N.Y., Oct. 1, 2012 /PRNewswire/ -- The National Baseball Hall of Fame and Museum is adding to its art collection with the donation of a portrait depicting one of the sport's most famous players. "Babe Ruth" by Rossin, a 72-inch x 60-inch oil on canvas, uniquely captures the athlete during his early years with the New York Yankees.</p><p>(Photo: <a href="http://photos.prnewswire.com/prnh/20121001/CL84559" target="_blank">http://photos.prnewswire.com/prnh/20121001/CL84559</a> )</p><div style="height:100%" class="lazyload-placeholder"></div><p>The painting was commissioned and donated to the Hall of Fame by national lease-to-own retailer Aaron's, Inc. in commemoration of opening its milestone 2,000<sup>th</sup> store Friday in the Bronx. Joe Torre, a legendary baseball manager and Major League Baseball's Executive Vice President for baseball operations, attended the grand opening event as Aaron's special guest and officially unveiled the portrait during a ribbon-cutting ceremony. Erik Strohl, Senior Director of Exhibitions and Collections for the Hall of Fame, was on hand at the event to accept the portrait.</p><p>"We are thrilled by Aaron's donation of this extraordinary portrait, which is incredibly lifelike and unique," Strohl said. "Babe Ruth is globally known as one of baseball's most popular figures that ever lived, and we always welcome new ways to pay tribute to his legacy. This portrait is especially appealing in how it portrays 'The Babe' as a young man, early in his career, in full color detail. Most photographs of Ruth are not only in black and white, but depict him later in his career. Babe Ruth comes to life in this portrait in a way we've never seen before, a testament to the wonderful work by the artist. You really have to see it to believe it."</p><p>Aaron's commissioned the painting by internationally acclaimed portrait artist Rossin, recognized for his lifelike pieces of world leaders including U.S. Presidents, Britain's royal family and celebrities.</p><p>"On the occasion of opening our 2,000<sup>th</sup> store in New York City, we wanted to do something meaningful for the local community," said Ronald W. Allen, CEO and President of Aaron's. "Yankees baseball is obviously close to the hearts of New York residents, and we wanted to give them a rare opportunity to be among the first to see this spectacular painting of Babe Ruth, up close and in person, before it finds its permanent home at the National Baseball Hall of Fame and Museum. Rossin's portraits are of the highest caliber, and we are extremely pleased the Hall of Fame is accepting our donation of the painting as the newest addition to its historic collection of baseball art."</p><p>A replica of the painting will continue to hang in the Bronx Aaron's store located at 3254 White Plains Road. For more information on the Baseball Hall of Fame, please visit <a href="http://www.baseballhall.org/" target="_blank">www.baseballhall.org</a>. </p><div style="height:100%" class="lazyload-placeholder"></div><p><b>About Aaron's, Inc.<br></b>Aaron's, Inc. (NYSE: AAN), the nation's leader in the sales and lease ownership and specialty retailing of residential furniture, consumer electronics, home appliances and accessories, has 2,000 Company-operated and franchised stores in 48 states and Canada. Founded in 1955 by entrepreneur and Chairman Emeritus R. Charles Loudermilk, Sr. and headquartered in Atlanta, Aaron's has been publicly traded since 1982. For more information, visit <a href="http://www.aarons.com/" target="_blank">www.aarons.com</a>.</p><p><b>About the National Baseball Hall of Fame and Museum<br></b>The National Baseball Hall of Fame and Museum is open seven days a week year round, with the exception of Thanksgiving, Christmas and New Year's Day. The Museum observes regular hours of 9 a.m. until 5 p.m. from Labor Day until Memorial Day Weekend. From Memorial Day through the day before Labor Day, the Museum is open from 9 a.m. until 9 p.m. seven days a week. Ticket prices are $19.50 for adults (13 and over), $12 for seniors (65 and over) and for those holding current memberships in the VFW, Disabled American Veterans, American Legion and AMVets organizations, and $7 for juniors (ages 7-12). Members are always admitted free of charge and there is no charge for children 6 years of age or younger.  For more information, visit our Web site at <a href="http://baseballhall.org" target="_blank">baseballhall.org</a> or call 888-HALL-OF-FAME (888-425-5633) or 607-547-7200.</p><p><b>About the Artist, Rossin<br></b>Rossin, an internationally renowned artist who has exhibited extensively in Europe and Asia, moved to Atlanta from his native Bulgaria in 2001. His focus on portraiture has gained him a reputation for his extraordinary talent. Noted commissions include a portrait of Presidents George H. and George W. Bush which hangs in the Presidential Library in College Station, Texas; a portrait of Ambassador Andrew Young which now resides in the permanent collection of the Smithsonian's National Portrait Gallery; his portrait of President Jimmy Carter is exhibited in the Carter Presidential Library and Museum; Morgan Freeman's portrait is now part of his private collection in his residence  in Mississippi; a portrait of King George VI is property of Her Majesty Queen Elisabeth II and his portrait of Vivien Leigh as Scarlett is part of Ted Turner's private collection. To learn more about Rossin, visit <a href="http://www.rossinfineart.com/" target="_blank">www.RossinFineArt.com</a>.</p><p>SOURCE Aaron's, Inc.</p></div></div>
COOPERSTOWN, N.Y., Oct. 1, 2012 /PRNewswire/ -- The National Baseball Hall of Fame and Museum is adding to its art collection with the donation of a portrait depicting one of the sport's most famous players. "Babe Ruth" by Rossin, a 72-inch x 60-inch oil on canvas, uniquely captures the athlete during his early years with the New York Yankees.(Photo: http://photos.prnewswire.com/prnh/20121001/CL84559 )The painting was commissioned and donated to the Hall of Fame by national lease-to-own retailer Aaron's, Inc. in commemoration of opening its milestone 2,000th store Friday in the Bronx. Joe Torre, a legendary baseball manager and Major League Baseball's Executive Vice President for baseball operations, attended the grand opening event as Aaron's special guest and officially unveiled the portrait during a ribbon-cutting ceremony. Erik Strohl, Senior Director of Exhibitions and Collections for the Hall of Fame, was on hand at the event to accept the portrait."We are thrilled by Aaron's donation of this extraordinary portrait, which is incredibly lifelike and unique," Strohl said. "Babe Ruth is globally known as one of baseball's most popular figures that ever lived, and we always welcome new ways to pay tribute to his legacy. This portrait is especially appealing in how it portrays 'The Babe' as a young man, early in his career, in full color detail. Most photographs of Ruth are not only in black and white, but depict him later in his career. Babe Ruth comes to life in this portrait in a way we've never seen before, a testament to the wonderful work by the artist. You really have to see it to believe it."Aaron's commissioned the painting by internationally acclaimed portrait artist Rossin, recognized for his lifelike pieces of world leaders including U.S. Presidents, Britain's royal family and celebrities."On the occasion of opening our 2,000th store in New York City, we wanted to do something meaningful for the local community," said Ronald W. Allen, CEO and President of Aaron's. "Yankees baseball is obviously close to the hearts of New York residents, and we wanted to give them a rare opportunity to be among the first to see this spectacular painting of Babe Ruth, up close and in person, before it finds its permanent home at the National Baseball Hall of Fame and Museum. Rossin's portraits are of the highest caliber, and we are extremely pleased the Hall of Fame is accepting our donation of the painting as the newest addition to its historic collection of baseball art."A replica of the painting will continue to hang in the Bronx Aaron's store located at 3254 White Plains Road. For more information on the Baseball Hall of Fame, please visit www.baseballhall.org. About Aaron's, Inc.Aaron's, Inc. (NYSE: AAN), the nation's leader in the sales and lease ownership and specialty retailing of residential furniture, consumer electronics, home appliances and accessories, has 2,000 Company-operated and franchised stores in 48 states and Canada. Founded in 1955 by entrepreneur and Chairman Emeritus R. Charles Loudermilk, Sr. and headquartered in Atlanta, Aaron's has been publicly traded since 1982. For more information, visit www.aarons.com.About the National Baseball Hall of Fame and MuseumThe National Baseball Hall of Fame and Museum is open seven days a week year round, with the exception of Thanksgiving, Christmas and New Year's Day. The Museum observes regular hours of 9 a.m. until 5 p.m. from Labor Day until Memorial Day Weekend. From Memorial Day through the day before Labor Day, the Museum is open from 9 a.m. until 9 p.m. seven days a week. Ticket prices are $19.50 for adults (13 and over), $12 for seniors (65 and over) and for those holding current memberships in the VFW, Disabled American Veterans, American Legion and AMVets organizations, and $7 for juniors (ages 7-12). Members are always admitted free of charge and there is no charge for children 6 years of age or younger.  For more information, visit our Web site at baseballhall.org or call 888-HALL-OF-FAME (888-425-5633) or 607-547-7200.About the Artist, RossinRossin, an internationally renowned artist who has exhibited extensively in Europe and Asia, moved to Atlanta from his native Bulgaria in 2001. His focus on portraiture has gained him a reputation for his extraordinary talent. Noted commissions include a portrait of Presidents George H. and George W. Bush which hangs in the Presidential Library in College Station, Texas; a portrait of Ambassador Andrew Young which now resides in the permanent collection of the Smithsonian's National Portrait Gallery; his portrait of President Jimmy Carter is exhibited in the Carter Presidential Library and Museum; Morgan Freeman's portrait is now part of his private collection in his residence  in Mississippi; a portrait of King George VI is property of Her Majesty Queen Elisabeth II and his portrait of Vivien Leigh as Scarlett is part of Ted Turner's private collection. To learn more about Rossin, visit www.RossinFineArt.com.SOURCE Aaron's, Inc.
2021-10-30 14:11:35.069289
The Best YouTube Feature EVER
https://www.cnbc.com/2010/06/28/the-best-youtube-feature-ever.html
2010-06-28T18:32:18+0000
Cindy Perman
CNBC
Finally! A constructive use for that annoying vuvuzela buzz from the World Cup — you know, those horns that sound like a swarm of bees is buzzing over the stadium.
cnbc, Articles, BP PLC, Alphabet Class A, Opinion, Blogs, Pony Blog, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1354732729
<div class="group"><p>Finally! A constructive use for that annoying vuvuzela buzz from the World Cup — you know, those horns that sound like a swarm of bees is buzzing over the stadium.</p></div>,<div class="group"><p>YouTube has added a soccer-ball shaped button in the bottom right-hand corner of its video player that when you press it, gives a nonstop vuvuzela buzz over the sound of your video and doesn't stop until you press the button again.</p><div style="height:100%" class="lazyload-placeholder"></div><p>So, no matter what you’re watching — be it the <a href="http://www.youtube.com/watch?v=YtB8cZkH-oQ" target="_blank">president</a>, BP CEO <a href="http://www.youtube.com/watch?v=3b6J7LRUTFY&amp;feature=related" target="_blank">Tony Hayward</a>or that <a href="http://www.youtube.com/watch?v=3b6J7LRUTFY&amp;feature=related" target="_blank">grandpa who's goo goo for Lady Gaga</a>— if you don’t like it, you can vuvuzela it.</p><p>You can even give Sen. Robert Byrd <a href="http://www.youtube.com/watch?v=09Lk9eWoIqQ" target="_blank">one last Bzzzzzzzzzzzzz</a>for the road.</p><p>Or vuvuzela a <a href="http://www.youtube.com/watch?v=UQZUtb7ez98" target="_blank">guy explaining what the vuvuzela button does</a>.</p></div>,<div class="group"><p><br>You see, here —</p><p>Bzzzzzzzzzzzzzzzzz ….</p><div style="height:100%" class="lazyload-placeholder"></div><p>The only downside: It’s not on all the videos — just the most recent ones.</p><p>But, sort your search by “upload date” and then decide if you want to watch the video, or—</p><p>Bzzzzzzzzzzzzzzzzz! </p><p><strong><em><strong><em>Questions? Comments? Write to us at </em></strong><a href="mailto:[email protected]" class="webresource" target="_blank">[email protected]</a> or drop a comment below.</em></strong></p><p><strong><em>More From the Pony:</em></strong></p><ul><strong><li><a href="https://www.cnbc.com/2010/06/24/getting-divorced-lets-throw-a-party.html">Getting Divorced? Let's Throw a Party!</a></li><li><a href="https://www.cnbc.com/2010/06/17/now-hiring-fake-executives-in-china-no-experience-required.html">Now Hiring: Fake Executives in China</a></li></strong><li><a href="https://www.cnbc.com/2010/03/31/The-Recessions-10-Most-Outrageous-Jobs-Stories.html">The Recession's Top 10 Most Outrageous Jobs</a></li><strong><em><strong><em><p><br><br>Even More From the Pony Blog at </p></em></strong></em></strong></ul></div>
Finally! A constructive use for that annoying vuvuzela buzz from the World Cup — you know, those horns that sound like a swarm of bees is buzzing over the stadium.YouTube has added a soccer-ball shaped button in the bottom right-hand corner of its video player that when you press it, gives a nonstop vuvuzela buzz over the sound of your video and doesn't stop until you press the button again.So, no matter what you’re watching — be it the president, BP CEO Tony Haywardor that grandpa who's goo goo for Lady Gaga— if you don’t like it, you can vuvuzela it.You can even give Sen. Robert Byrd one last Bzzzzzzzzzzzzzfor the road.Or vuvuzela a guy explaining what the vuvuzela button does.You see, here —Bzzzzzzzzzzzzzzzzz ….The only downside: It’s not on all the videos — just the most recent ones.But, sort your search by “upload date” and then decide if you want to watch the video, or—Bzzzzzzzzzzzzzzzzz! Questions? Comments? Write to us at [email protected] or drop a comment below.More From the Pony:Getting Divorced? Let's Throw a Party!Now Hiring: Fake Executives in ChinaThe Recession's Top 10 Most Outrageous JobsEven More From the Pony Blog at
2021-10-30 14:11:35.227435
Cruz sponsors bill allowing governors to deny entrance to refugees
https://www.cnbc.com/2017/01/24/cruz-sponsors-bill-allowing-governors-to-deny-entrance-to-refugees.html
2017-01-24T23:15:09+0000
Mack Hogan
CNBC
Texas Sen. Ted Cruz and Rep. Ted Poe reintroduced a controversial bill that allows governors to bar refugees from entering their state, The Hill reported. The bill, entitled "The State Refugee Security Act," was initially introduced last year, The Hill Reported on Tuesday. It would require federal authorities to notify a state 21 days before settling a refugee there, during which the governor can request "adequate assurance" that the refugee is not a security threat. If the federal authorities can not provide this, the refugee will not be able to settle in the state. "The first obligation of the president is to keep this country safe as commander in chief," Cruz said in a statement to The Hill. "I am encouraged that, unlike the previous administration, one of President Trump's top priorities is to defeat radical Islamic terrorism."The act echoes the sentiment of President Donald Trump's plan to bar Muslims from entering the United States. While he proposed this plan during the primaries, it is unclear at this time if he still supports it.Click here to read the full story from The Hill.
cnbc, Articles, United States, Politics, Donald Trump, Ted Cruz, Texas, US: News, Republicans, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1529452104
<div class="group"><p><a href="https://www.cnbc.com/id/10000608">Texas</a> Sen. <a href="https://www.cnbc.com/ted-cruz/">Ted Cruz</a> and Rep. Ted Poe reintroduced a controversial bill that allows governors to bar refugees from entering their state, <a href="http://thehill.com/policy/national-security/315929-gop-lawmakers-introduce-bill-allowing-states-to-bar-refugees" target="_blank">The Hill reported.</a></p><p> The bill, entitled "The State Refugee Security Act," was initially introduced last year, The Hill Reported on Tuesday. It would require federal authorities to notify a state 21 days before settling a refugee there, during which the governor can request "adequate assurance" that the refugee is not a security threat. If the federal authorities can not provide this, the refugee will not be able to settle in the state.</p><div style="height:100%" class="lazyload-placeholder"></div><p> "The first obligation of the president is to keep this country safe as commander in chief," Cruz said in a statement to The Hill. <span>"I am encouraged that, unlike the previous administration, one of President Trump's top priorities is to defeat radical Islamic terrorism."</span></p><p>The act echoes the sentiment of <a href="https://www.cnbc.com/donald-trump/">President Donald Trump</a>'s plan to bar Muslims from entering the <a href="https://www.cnbc.com/id/10000385">United States</a>. While he proposed this plan during the primaries, it is unclear at this time if he still supports it.</p><p><em>Click here to read the full story from <a href="http://thehill.com/policy/national-security/315929-gop-lawmakers-introduce-bill-allowing-states-to-bar-refugees" target="_blank">The Hill.</a></em></p></div>
Texas Sen. Ted Cruz and Rep. Ted Poe reintroduced a controversial bill that allows governors to bar refugees from entering their state, The Hill reported. The bill, entitled "The State Refugee Security Act," was initially introduced last year, The Hill Reported on Tuesday. It would require federal authorities to notify a state 21 days before settling a refugee there, during which the governor can request "adequate assurance" that the refugee is not a security threat. If the federal authorities can not provide this, the refugee will not be able to settle in the state. "The first obligation of the president is to keep this country safe as commander in chief," Cruz said in a statement to The Hill. "I am encouraged that, unlike the previous administration, one of President Trump's top priorities is to defeat radical Islamic terrorism."The act echoes the sentiment of President Donald Trump's plan to bar Muslims from entering the United States. While he proposed this plan during the primaries, it is unclear at this time if he still supports it.Click here to read the full story from The Hill.
2021-10-30 14:11:35.396041
Your first trade for Tuesday, February 17
https://www.cnbc.com/2015/02/13/your-first-trade-for-tuesday-february-17.html
2015-02-13T22:39:51+0000
Stephanie Landsman
CNBC
The "Fast Money" traders gave their final trades of the day.Tim Seymour was a buyer of XME.Brian Kelly was a buyer of GG on his prediction the dollar could see a correction.Steve Grasso was a buyer of CPB.Guy Adami was a buyer of CERN.
cnbc, Articles, Stock markets, Apple Inc, Cerner Corp, Goldcorp Inc, Campbell Soup Co, SPDR S&P Metals & Mining ETF, stocks, Fast Money, CNBC TV, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1468335513
<div class="group"><p> The "<a href="https://www.cnbc.com/fast-money/">Fast Money</a>" traders gave their final trades of the day.<br></p><p>Tim Seymour was a buyer of <a href="https://www.cnbc.com/quotes/XME">XME</a>.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Brian Kelly was a buyer of <a href="//www.cnbc.com/quotes/GGN-MX" target="_blank">GG</a> on his prediction the dollar could see a correction.</p><p>Steve Grasso was a buyer of <a href="//www.cnbc.com/quotes/CPB" target="_blank">CPB</a>.</p><p>Guy Adami was a buyer of <a href="//www.cnbc.com/quotes/CERN" target="_blank">CERN.</a></p></div>,<div class="group"><p> <em>Trader disclosure: On February 13, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: </em><em>Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. Steve Grasso is long AAPL, BA, CLVS, EVGN, FB, GDX, GOOGL, IMMR, KBH, KDUS, MHY, MJNA, NVIV, PFE, POT, SO, T, TMUS, TWTR, YHOO, firm is long FCX, NE, NEM, VALE, RIG, OXY, USO, AMZN, kids are long EFG, EFA, EWJ, IJR, SPY. Brian Kelly is long BTC=, US Dollar, GLD, CTRL calls, HYG puts, BBRY call spreads, TLT, he is short EWA, EWG, EWQ, EWZ, EWW, Australian Dollar, British Pound, Canadian Dollar, Yuan. Tim Seymour is long AAPL, BAC, BX, C, DIS, F, GE, GM, GOOGL, INTC, SUNE, Tim's firm is long BABA, BIDU, BX, CCU, DSKY, KNDI, MCD, NKE, NOK, SINA, SBUX, TSL, VIP</em>.</p></div>
The "Fast Money" traders gave their final trades of the day.Tim Seymour was a buyer of XME.Brian Kelly was a buyer of GG on his prediction the dollar could see a correction.Steve Grasso was a buyer of CPB.Guy Adami was a buyer of CERN. Trader disclosure: On February 13, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. Steve Grasso is long AAPL, BA, CLVS, EVGN, FB, GDX, GOOGL, IMMR, KBH, KDUS, MHY, MJNA, NVIV, PFE, POT, SO, T, TMUS, TWTR, YHOO, firm is long FCX, NE, NEM, VALE, RIG, OXY, USO, AMZN, kids are long EFG, EFA, EWJ, IJR, SPY. Brian Kelly is long BTC=, US Dollar, GLD, CTRL calls, HYG puts, BBRY call spreads, TLT, he is short EWA, EWG, EWQ, EWZ, EWW, Australian Dollar, British Pound, Canadian Dollar, Yuan. Tim Seymour is long AAPL, BAC, BX, C, DIS, F, GE, GM, GOOGL, INTC, SUNE, Tim's firm is long BABA, BIDU, BX, CCU, DSKY, KNDI, MCD, NKE, NOK, SINA, SBUX, TSL, VIP.
2021-10-30 14:11:35.436794
Obama nominates Ashton Carter for secretary of Defense
https://www.cnbc.com/2014/12/05/obama-nominates-ash-carter-for-secretary-of-defense.html
2014-12-05T15:35:11+0000
Everett Rosenfeld
CNBC
President Barack Obama announced Friday he is nominating Ashton "Ash" Carter to be the next secretary of Defense. "With a record of service that has spanned more than 30 years as a public servant, as an adviser, as a scholar, Ash is rightly regarded as one of our nation's foremost national security leaders," Obama said.
cnbc, Articles, Politics, Barack Obama, Ashton Carter, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1385654908
<div class="group"><p> President <a href="https://www.cnbc.com/barack-obama/">Barack Obama</a> announced Friday he is nominating <a href="https://www.cnbc.com/ashton-carter-secretary-of-defense/">Ashton "Ash" Carter</a> to be the next secretary of Defense.</p><p> "With a record of service that has spanned more than 30 years as a public servant, as an adviser, as a scholar, Ash is rightly regarded as one of our nation's foremost national security leaders," Obama said.</p></div>,<div class="group"><div style="height:100%" class="lazyload-placeholder"></div><p> If confirmed by the Senate, Carter will replace former Republican former Sen. <a href="https://www.cnbc.com/chuck-hagel/">Chuck Hagel</a>, who is stepping down.</p><p> <span class="label-read-more">Read More</span> <a href="https://www.cnbc.com/2014/11/24/hagel-said-to-be-stepping-down-as-defense-chief-nyt.html">Hagel submits resignation as defense chief under pressure</a><br></p><p> Carter was deputy secretary from 2011 to 2013.</p><p> "I think it's fair to say that, Ash, at your one year attempt at retirement from public service, you failed miserably. But I am deeply grateful that you're willing to go back at it," Obama said.</p><p> A Rhodes scholar, Carter is a trained physicist and weapons expert. The president praised him as "one of the few people who actually understand how many of our defense systems work."<br></p><div style="height:100%" class="lazyload-placeholder"></div><p> Before announcing Carter's nomination, Obama touted the better-than-expected jobs number released Friday morning.</p><p> <em>—Reuters contributed to this report.</em></p></div>,<div class="group"></div>
President Barack Obama announced Friday he is nominating Ashton "Ash" Carter to be the next secretary of Defense. "With a record of service that has spanned more than 30 years as a public servant, as an adviser, as a scholar, Ash is rightly regarded as one of our nation's foremost national security leaders," Obama said. If confirmed by the Senate, Carter will replace former Republican former Sen. Chuck Hagel, who is stepping down. Read More Hagel submits resignation as defense chief under pressure Carter was deputy secretary from 2011 to 2013. "I think it's fair to say that, Ash, at your one year attempt at retirement from public service, you failed miserably. But I am deeply grateful that you're willing to go back at it," Obama said. A Rhodes scholar, Carter is a trained physicist and weapons expert. The president praised him as "one of the few people who actually understand how many of our defense systems work." Before announcing Carter's nomination, Obama touted the better-than-expected jobs number released Friday morning. —Reuters contributed to this report.
2021-10-30 14:11:35.470767
Kellogg recalls some Eggo waffles over listeria fear
https://www.cnbc.com/2016/09/20/kellogg-recalls-some-eggo-waffles-over-listeria-fear.html
2016-09-20T11:24:53+0000
null
CNBC
Kellogg is recalling about 10,000 cases of its Eggo Nutri-Grain Whole Wheat Waffles in 25 states because they could be contaminated with the bacteria listeria.Listeria can cause serious and even deadly infections. It primarily affects the elderly, pregnant women, newborns and people with weak immune systems.The Battle Creek, Michigan company said Monday it has received no reports of illnesses. Kellogg says it learned of the potential problem after routine tests.The recalled waffles are available in 10-count packs with "Used by" dates of Nov. 21, 2017 and Nov. 22, 2017. Kellogg, which also makes Frosted Flakes and Special K, said no other Eggo products were affected.The company says people who bought the products should throw them away and contact it for a full refund.
cnbc, Articles, Michigan, New York, New York City, Product recalls, Food and drink, Business, Kellogg Co, Product Recalls, Business News, Food and Beverage, Business Operations, US: News, Wires, Leadership, Business Events, source:tagname:The Associated Press
https://image.cnbcfm.com…jpg?v=1529472734
<div class="group"><p><a href="//www.cnbc.com/quotes/K" target="_blank">Kellogg</a> is recalling about 10,000 cases of its Eggo Nutri-Grain Whole Wheat Waffles in 25 states because they could be contaminated with the bacteria listeria.</p> <p>Listeria can cause serious and even deadly infections. It primarily affects the elderly, pregnant women, newborns and people with weak immune systems.</p> <div style="height:100%" class="lazyload-placeholder"></div><p>The Battle Creek, Michigan company said Monday it has received no reports of illnesses. Kellogg says it learned of the potential problem after routine tests.</p> <p>The recalled waffles are available in 10-count packs with "Used by" dates of Nov. 21, 2017 and Nov. 22, 2017. Kellogg, which also makes Frosted Flakes and Special K, said no other Eggo products were affected.</p> <p>The company says people who bought the products should throw them away and contact it for a full refund.</p></div>
Kellogg is recalling about 10,000 cases of its Eggo Nutri-Grain Whole Wheat Waffles in 25 states because they could be contaminated with the bacteria listeria. Listeria can cause serious and even deadly infections. It primarily affects the elderly, pregnant women, newborns and people with weak immune systems. The Battle Creek, Michigan company said Monday it has received no reports of illnesses. Kellogg says it learned of the potential problem after routine tests. The recalled waffles are available in 10-count packs with "Used by" dates of Nov. 21, 2017 and Nov. 22, 2017. Kellogg, which also makes Frosted Flakes and Special K, said no other Eggo products were affected. The company says people who bought the products should throw them away and contact it for a full refund.
2021-10-30 14:11:35.503420
Bring Back Recess
https://www.cnbc.com/2011/06/07/bring-back-recess.html
2011-06-07T17:57:49+0000
Jane Wells
CNBC
Spending a little too much time playing Call of Duty? Glued to Facebook? Too much Tweeting (hello, Congressman Weiner!)? Or just watching too much SportsCenter? Some New Yorkers have started a web biz which they hope will get people out more. Can they make a lethargic nation start moving? The site is called Blood, Sweat & Cheers, or BSC. The motto: bring back recess. Every day the site sends out emails to subscribers highlighting fun, offbeat, sometimes sweat inducing activities. This is no Groupon deal where you get half off on a massage. First, there are no coupons — yet. And BSC is trying to find the most unique, offbeat activities possible, like "a muddy obstacle course race", "Marathon Training Made Fun, Social and Easy", "Bingo at the Standard Hotel", or "The Ugly Dog Pageant." Put me down for the last one. The site launched in April just for New York but will go national later this month. How will Blood, Sweat & Cheersmake money? "You bring up a good question," BSC's Jonathan Ages tells me. His team is selling banner ads on the website and inside the daily emails. "By the way, in-email advertising sells at roughly ten times the rate of website advertising," he says. Future plans include sponsored articles which will be "clearly labeled as such," and a "group-buying arm" like Groupon.
cnbc, Articles, Healthy Business 2011, Opinion, Blogs, Funny Business with Jane Wells, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1354732729
<div class="group"><p>Spending a little too much time playing Call of Duty? Glued to Facebook? Too much Tweeting (hello, Congressman Weiner!)? Or just watching too much SportsCenter? </p><p>Some New Yorkers have started a web biz which they hope will get people out more. Can they make a lethargic nation start moving? </p><div style="height:100%" class="lazyload-placeholder"></div><p>The site is called <a href="http://www.bloodsweatandcheers.com/subscribe-landing-national-2" target="_blank">Blood, Sweat &amp; Cheers, or BSC</a>. The motto: bring back recess. Every day the site sends out emails to subscribers highlighting fun, offbeat, sometimes sweat inducing activities. This is no Groupon deal where you get half off on a massage. First, there are no coupons — yet. And BSC is trying to find the most unique, offbeat activities possible, like "a muddy obstacle course race", "Marathon Training Made Fun, Social and Easy", "Bingo at the Standard Hotel", or "The Ugly Dog Pageant." Put me down for the last one. </p><p>The site launched in April just for New York but will go national later this month. </p><p>How will <a href="http://www.bloodsweatandcheers.com/subscribe-landing-national-2" target="_blank">Blood, Sweat &amp; Cheers</a>make money? "You bring up a good question," BSC's Jonathan Ages tells me. His team is selling banner ads on the website and inside the daily emails. "By the way, in-email advertising sells at roughly ten times the rate of website advertising," he says. Future plans include sponsored articles which will be "clearly labeled as such," and a "group-buying arm" like Groupon. </p></div>,<div class="group"><p>But not like Groupon. (Though we should all wish to be like Groupon.) </p><p>"The world doesn't need another company offering discount haircuts," Ages says. "But it does need an organization that can hook you up with fun, playful experiences that you can share with like-minded people." </p><div style="height:100%" class="lazyload-placeholder"></div><p><strong>How's traffic?</strong> "We don't pay a lot of attention to site traffic," Ages says, which is code for "not much." He adds that BSC's "more telling" statistic is subscriber growth. "Our subscriber base is growing by roughly 15 percent every week." </p><p>In a world growing more crowded with new variations of the daily deal model, <a href="http://www.bloodsweatandcheers.com/subscribe-landing-national-2" target="_blank">Blood, Sweat &amp; Cheers</a> might be seen as a guy's Daily Candy meets Living Social meets Men's Fitness...meets...you get the picture. One plus — if you take part in "Marathon Training Made Fun, Social and Easy," you may end up with a physique worth showing off online to people you're not married to, but you'll probably be too exhausted to photograph yourself. </p><p><em>Questions? Comments? Funny Stories? Email </em></p></div>
Spending a little too much time playing Call of Duty? Glued to Facebook? Too much Tweeting (hello, Congressman Weiner!)? Or just watching too much SportsCenter? Some New Yorkers have started a web biz which they hope will get people out more. Can they make a lethargic nation start moving? The site is called Blood, Sweat & Cheers, or BSC. The motto: bring back recess. Every day the site sends out emails to subscribers highlighting fun, offbeat, sometimes sweat inducing activities. This is no Groupon deal where you get half off on a massage. First, there are no coupons — yet. And BSC is trying to find the most unique, offbeat activities possible, like "a muddy obstacle course race", "Marathon Training Made Fun, Social and Easy", "Bingo at the Standard Hotel", or "The Ugly Dog Pageant." Put me down for the last one. The site launched in April just for New York but will go national later this month. How will Blood, Sweat & Cheersmake money? "You bring up a good question," BSC's Jonathan Ages tells me. His team is selling banner ads on the website and inside the daily emails. "By the way, in-email advertising sells at roughly ten times the rate of website advertising," he says. Future plans include sponsored articles which will be "clearly labeled as such," and a "group-buying arm" like Groupon. But not like Groupon. (Though we should all wish to be like Groupon.) "The world doesn't need another company offering discount haircuts," Ages says. "But it does need an organization that can hook you up with fun, playful experiences that you can share with like-minded people." How's traffic? "We don't pay a lot of attention to site traffic," Ages says, which is code for "not much." He adds that BSC's "more telling" statistic is subscriber growth. "Our subscriber base is growing by roughly 15 percent every week." In a world growing more crowded with new variations of the daily deal model, Blood, Sweat & Cheers might be seen as a guy's Daily Candy meets Living Social meets Men's Fitness...meets...you get the picture. One plus — if you take part in "Marathon Training Made Fun, Social and Easy," you may end up with a physique worth showing off online to people you're not married to, but you'll probably be too exhausted to photograph yourself. Questions? Comments? Funny Stories? Email
2021-10-30 14:11:35.544748
Gas crisis, labor shortages and supply chain chaos: Post-Brexit Britain faces a difficult winter
https://www.cnbc.com/2021/10/18/gas-crisis-labor-shortages-and-supply-chain-chaos-post-brexit-britain-faces-a-difficult-winter.html
2021-10-18T08:00:25+0000
Chloe Taylor
CNBC
The U.K. has emerged from the Covid-19 pandemic to find itself faced with an onslaught of new economic crises that have left the country in "a precarious position," experts have warned.A perfect storm of labor shortages, skyrocketing natural gas prices and global supply chain constraints have put the country in prime position for a difficult winter. Rising demand as economies reopen has created similar problems all over the world, but economists argue that Brexit has exacerbated these issues for Britain.
cnbc, Articles, Border security, Customs, Northern Ireland, Energy industry, Energy, European Commission, EU, British Government, United Kingdom, Politics, Economy, Brexit, Europe Economy, World News, Europe News, Supply and Demand, Supply Chain Management, Europe Politics, source:tagname:CNBC Europe Source
https://image.cnbcfm.com…peg?v=1632489884
<div class="group"><p>The U.K. has emerged from the Covid-19 pandemic to find itself faced with an onslaught of new economic crises that have left the country in "a precarious position," experts have warned.</p><p>A perfect storm of labor shortages, skyrocketing natural gas prices and global supply chain constraints have put the country in prime position for <a href="https://www.cnbc.com/2021/09/24/empty-shelves-and-gasoline-shortages-uk-facing-a-difficult-winter.html">a difficult winter</a>. Rising demand as economies reopen has created similar problems all over the world, but economists argue that Brexit has exacerbated these issues for Britain.</p></div>,<div class="group"><div style="height:100%" class="lazyload-placeholder"></div><p>A lack of workers is affecting a slew of industries across the country.</p><p>Britain has an estimated shortage of 100,000 truck drivers, which haulage organizations have largely attributed to a post-Brexit exodus of EU nationals. The lack of truck drivers has disrupted deliveries, leading to empty store shelves, backlogs at ports and dry gas stations, which sparked a <a href="https://www.cnbc.com/2021/09/27/uk-could-deploy-army-to-deliver-fuel-as-drivers-panic-buy-gasoline.html">panic buying frenzy</a> in September that lasted weeks.</p><p>Other sectors have also warned of deepening labor shortages that are expected to damage the availability and price of goods in the runup to Christmas.</p><p>Britain's National Pig Association has warned that <a href="https://www.theguardian.com/business/2021/oct/01/uk-pig-industry-warns-butcher-shortage-mass-cull" target="_blank">up to 120,000 pigs face being culled</a> within weeks because of a lack of butchers and abattoir workers.</p></div>,<div class="group"><p>In a statement on Friday, the vice president of the U.K.'s National Union of Farmers said labor shortages across the food supply chain remained acute, while the CEO of the U.K. Warehousing Association said in September that industries including warehousing, engineering and transport were all experiencing severe worker shortages.</p><div style="height:100%" class="lazyload-placeholder"></div><p>At the end of September, the Confederation of British Industry — which represents 190,000 businesses — said its latest data showed 70% of companies were planning pay rises in a bid to tackle labor shortages.</p><p>The U.K. government has issued thousands of temporary visas for truck drivers, butchers and agricultural workers, but some critics have argued that this is insufficient to lure foreign workers.</p></div>,<div class="group"><p>Riccardo Crescenzi, a professor of economic geography at the London School of Economics, expressed some skepticism about the solutions being offered by the government.</p><p>"Offering three-month [visas] might not work while the rest of the EU is booming because of the injection of resources allowed for its recovery plan," he told CNBC in a phone call. "And there is not really an unemployment problem in the U.K., so I struggle to see where drivers would come from in the domestic economy."</p><p>Crescenzi said it was hard to know if the issues were temporary. "Some of these shortages could become structural, and this is a problem that can seriously constrain future growth."</p></div>,<div class="group"><p>Sam Roscoe, senior associate professor in operations and supply chain management at the University of Sussex, warned that shortages would persist in the U.K. unless there were fundamental changes to the country's immigration system.</p><p>"Brexit was sold as a vote on immigration independence, the U.K. labor market and making sure that everybody in the U.K. had jobs to go to, but the issue is we have 5% unemployment," he said via telephone. "We've lost access to 27 member countries and the labor pool that was once available there, especially in terms of so-called low-skilled labor. I think that definitely puts us in a precarious position."</p><p>Roscoe said it would take years to get enough Brits trained and licensed to drive heavy goods vehicles. "In the meantime, the reality is we're going to have labor shortages unless the visa rules change."</p></div>,<div class="group"><p>In a note on Thursday, Credit Suisse economists warned that U.K. consumers "face headwinds in the next few months," including elevated inflation, supply shortages and the tightening of monetary policy.</p><p>"We think real disposable incomes for the U.K. consumer can fall by about 1.5% in 2022, the biggest fall since 2011," the note's authors predicted.</p><p>Helen Dickinson, head of the British Retail Consortium, <a href="https://www.itv.com/news/2021-10-14/majority-of-retailers-to-raise-prices-by-christmas-due-to-supply-chain-issues" target="_blank">told ITV News</a> Thursday that three in five CEOs said they would have to raise prices by the end of the year due to supply chain problems. Some 10% said they had already done so.</p><p>Charalambos Pissouros, head of research at JFD Group, said he believed panic buying and supply shortages in the U.K. might also impact spending power by damaging sterling's value.</p><p>"I see the risk surrounding the future of the British pound as tilted to the downside," he told CNBC. "How severe any further tumble may be depends on how long the situation stays unresolved. Quick responses like <a href="https://www.cnbc.com/2021/10/04/britain-deploys-army-to-deliver-fuel-amid-panic-buying-and-shortages.html">the involvement of the British military</a> could restore economic performance sooner than thought and halt sterling's fall, and this could also allow the Bank of England to proceed freely with its tightening plans."</p></div>,<div class="group"><p>It comes as Britain also faces an energy crisis. Several U.K. energy suppliers have collapsed since September as wholesale gas prices climbed to record highs. While the problem has affected markets worldwide, the U.K. is particularly vulnerable because of its reliance on gas; more than 22 million households are connected to the British gas grid.</p></div>,<div class="group"><p>Meanwhile in Europe — which is also battling rising prices — the European Commission on Wednesday published a "toolbox" that member states could use "to address the immediate impact of current [gas] price increases, and further strengthen resilience against future shocks."</p><p>Crescenzi told CNBC that the EU can count on the strength of its single market, "which means global shocks like the gas price crisis can be dealt with more effectively with significantly more room for manoeuvre."</p><p>"Following Brexit, the U.K. could still coordinate its response to the crisis with its most important trade and investment partner to ensure the best possible protection for its firms and citizens," he added. "However, measures put out by the U.K. government remain unclear, let alone a strategy to coordinate with external partners. This is alarming."</p><p>EU-U.K. relations have been under strain in recent weeks amid disputes over the Northern Ireland protocol, a special trade deal introduced to avoid a hard border between Northern Ireland and the Republic of Ireland. Officials have publicly <a href="https://www.cnbc.com/2021/10/10/britain-and-ireland-argue-on-twitter-over-brexit-deal.html">argued on Twitter</a> over the proposals — dubbed the "biggest source of mistrust" between both sides by U.K. Brexit Minister David Frost — and met to discuss proposed changes in Brussels on Friday.</p></div>
The U.K. has emerged from the Covid-19 pandemic to find itself faced with an onslaught of new economic crises that have left the country in "a precarious position," experts have warned.A perfect storm of labor shortages, skyrocketing natural gas prices and global supply chain constraints have put the country in prime position for a difficult winter. Rising demand as economies reopen has created similar problems all over the world, but economists argue that Brexit has exacerbated these issues for Britain.A lack of workers is affecting a slew of industries across the country.Britain has an estimated shortage of 100,000 truck drivers, which haulage organizations have largely attributed to a post-Brexit exodus of EU nationals. The lack of truck drivers has disrupted deliveries, leading to empty store shelves, backlogs at ports and dry gas stations, which sparked a panic buying frenzy in September that lasted weeks.Other sectors have also warned of deepening labor shortages that are expected to damage the availability and price of goods in the runup to Christmas.Britain's National Pig Association has warned that up to 120,000 pigs face being culled within weeks because of a lack of butchers and abattoir workers.In a statement on Friday, the vice president of the U.K.'s National Union of Farmers said labor shortages across the food supply chain remained acute, while the CEO of the U.K. Warehousing Association said in September that industries including warehousing, engineering and transport were all experiencing severe worker shortages.At the end of September, the Confederation of British Industry — which represents 190,000 businesses — said its latest data showed 70% of companies were planning pay rises in a bid to tackle labor shortages.The U.K. government has issued thousands of temporary visas for truck drivers, butchers and agricultural workers, but some critics have argued that this is insufficient to lure foreign workers.Riccardo Crescenzi, a professor of economic geography at the London School of Economics, expressed some skepticism about the solutions being offered by the government."Offering three-month [visas] might not work while the rest of the EU is booming because of the injection of resources allowed for its recovery plan," he told CNBC in a phone call. "And there is not really an unemployment problem in the U.K., so I struggle to see where drivers would come from in the domestic economy."Crescenzi said it was hard to know if the issues were temporary. "Some of these shortages could become structural, and this is a problem that can seriously constrain future growth."Sam Roscoe, senior associate professor in operations and supply chain management at the University of Sussex, warned that shortages would persist in the U.K. unless there were fundamental changes to the country's immigration system."Brexit was sold as a vote on immigration independence, the U.K. labor market and making sure that everybody in the U.K. had jobs to go to, but the issue is we have 5% unemployment," he said via telephone. "We've lost access to 27 member countries and the labor pool that was once available there, especially in terms of so-called low-skilled labor. I think that definitely puts us in a precarious position."Roscoe said it would take years to get enough Brits trained and licensed to drive heavy goods vehicles. "In the meantime, the reality is we're going to have labor shortages unless the visa rules change."In a note on Thursday, Credit Suisse economists warned that U.K. consumers "face headwinds in the next few months," including elevated inflation, supply shortages and the tightening of monetary policy."We think real disposable incomes for the U.K. consumer can fall by about 1.5% in 2022, the biggest fall since 2011," the note's authors predicted.Helen Dickinson, head of the British Retail Consortium, told ITV News Thursday that three in five CEOs said they would have to raise prices by the end of the year due to supply chain problems. Some 10% said they had already done so.Charalambos Pissouros, head of research at JFD Group, said he believed panic buying and supply shortages in the U.K. might also impact spending power by damaging sterling's value."I see the risk surrounding the future of the British pound as tilted to the downside," he told CNBC. "How severe any further tumble may be depends on how long the situation stays unresolved. Quick responses like the involvement of the British military could restore economic performance sooner than thought and halt sterling's fall, and this could also allow the Bank of England to proceed freely with its tightening plans."It comes as Britain also faces an energy crisis. Several U.K. energy suppliers have collapsed since September as wholesale gas prices climbed to record highs. While the problem has affected markets worldwide, the U.K. is particularly vulnerable because of its reliance on gas; more than 22 million households are connected to the British gas grid.Meanwhile in Europe — which is also battling rising prices — the European Commission on Wednesday published a "toolbox" that member states could use "to address the immediate impact of current [gas] price increases, and further strengthen resilience against future shocks."Crescenzi told CNBC that the EU can count on the strength of its single market, "which means global shocks like the gas price crisis can be dealt with more effectively with significantly more room for manoeuvre.""Following Brexit, the U.K. could still coordinate its response to the crisis with its most important trade and investment partner to ensure the best possible protection for its firms and citizens," he added. "However, measures put out by the U.K. government remain unclear, let alone a strategy to coordinate with external partners. This is alarming."EU-U.K. relations have been under strain in recent weeks amid disputes over the Northern Ireland protocol, a special trade deal introduced to avoid a hard border between Northern Ireland and the Republic of Ireland. Officials have publicly argued on Twitter over the proposals — dubbed the "biggest source of mistrust" between both sides by U.K. Brexit Minister David Frost — and met to discuss proposed changes in Brussels on Friday.
2021-10-30 14:11:35.655453
$2B has piled into this group of stocks in 2016
https://www.cnbc.com/2016/02/05/2b-has-piled-into-this-group-of-stocks-in-2016.html
2016-02-05T16:37:00+0000
Amanda Diaz
CNBC
One of the hottest trades of the year is about to get even hotter. Mining stocks have struck gold since the start of 2016, rallying more than 17 percent and shooting to their highest level since late October. The move has sparked a flurry of bullish activity this week. " and gold miners is where the options action was this week, … with the top two stocks being Freeport McMoRan and Newmont Mining," Mike Khouw told CNBC's "Fast Money" on Thursday. Freeport and Newmont were up a respective 16 and 27 percent in the last week, while the broader gold miners ETF, the GDX, has rallied 6 percent in the same period.
cnbc, Articles, Gold COMEX (Dec'21), Freeport-McMoRan Inc, VanEck Gold Miners ETF, Newmont Corporation, Gold, Fast Money, Options, CNBC TV, Options Action, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1591975015
<div class="group"><p> One of the hottest trades of the year is about to get even hotter.</p><p> Mining stocks have struck gold since the start of 2016, rallying more than 17 percent and shooting to their highest level since late October. The move has sparked a flurry of bullish activity this week.</p><div style="height:100%" class="lazyload-placeholder"></div><p> "<!-- --> and <a href="https://www.cnbc.com/quotes/GDX">gold miners</a> is where the options action was this week, … with the top two stocks being <a href="//www.cnbc.com/quotes/FCX" target="_blank">Freeport McMoRan</a> and <a href="//www.cnbc.com/quotes/NEM" target="_blank">Newmont Mining</a>," <a href="https://www.cnbc.com/michael-khouw/">Mike Khouw</a> told CNBC's "<a href="https://www.cnbc.com/fast-money/">Fast Money</a>" on Thursday. Freeport and Newmont were up a respective 16 and 27 percent in the last week, while the broader gold miners ETF, the <a href="https://www.cnbc.com/quotes/GDX">GDX</a>, has rallied 6 percent in the same period. </p></div>,<div class="group"><p> The options activity in the gold miners comes amid an influx of money piling into the ETF. Tom Lydon, CEO of ETFTrends.com, told CNBC producers this week that more than $2 billion has come into the GDX in the last month. </p><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2016/02/04/this-could-be-the-ultimate-bull-trap.html"> This could be the ultimate bull trap</a><br></p><p> One trade that stuck out to Khouw on Thursday was a hefty bet that the GDX could reach a new 52-week high by midyear. Specifically, that trader purchased 50,000 of the June 22 strike calls for 32 cents each. Since one call option accounts for 100 shares of stock, this is a $1.6 million bet that the GDX would be above $22.32 by June expiration. That's nearly 40 percent higher than where the ETF is currently trading.</p><p> "It appears this trader is rolling out and up of a bullish position, basically betting on continuing and substantial gains in the gold miners over the next five months," said Khouw, co-founder of Optimize Advisors and a CNBC contributor.</p><p> The move in the miners this year is largely fueled by a surge in gold prices. The commodity has rallied 9 percent in 2016, but curiously enough it saw a similar rise in the first five weeks of 2015, only to sell off sharply as the year progressed. </p></div>
One of the hottest trades of the year is about to get even hotter. Mining stocks have struck gold since the start of 2016, rallying more than 17 percent and shooting to their highest level since late October. The move has sparked a flurry of bullish activity this week. " and gold miners is where the options action was this week, … with the top two stocks being Freeport McMoRan and Newmont Mining," Mike Khouw told CNBC's "Fast Money" on Thursday. Freeport and Newmont were up a respective 16 and 27 percent in the last week, while the broader gold miners ETF, the GDX, has rallied 6 percent in the same period. The options activity in the gold miners comes amid an influx of money piling into the ETF. Tom Lydon, CEO of ETFTrends.com, told CNBC producers this week that more than $2 billion has come into the GDX in the last month. Read More This could be the ultimate bull trap One trade that stuck out to Khouw on Thursday was a hefty bet that the GDX could reach a new 52-week high by midyear. Specifically, that trader purchased 50,000 of the June 22 strike calls for 32 cents each. Since one call option accounts for 100 shares of stock, this is a $1.6 million bet that the GDX would be above $22.32 by June expiration. That's nearly 40 percent higher than where the ETF is currently trading. "It appears this trader is rolling out and up of a bullish position, basically betting on continuing and substantial gains in the gold miners over the next five months," said Khouw, co-founder of Optimize Advisors and a CNBC contributor. The move in the miners this year is largely fueled by a surge in gold prices. The commodity has rallied 9 percent in 2016, but curiously enough it saw a similar rise in the first five weeks of 2015, only to sell off sharply as the year progressed.
2021-10-30 14:11:36.233922
Europe needs to become 'shock-proof': Dijsselbloem
https://www.cnbc.com/2015/10/12/europe-needs-to-become-shock-proof-dijsselbloem.html
2015-10-12T05:13:49+0000
Holly Ellyatt,Geoff Cutmore
CNBC
Europe has come a long way since the height of the economic crisis that shook the region three years ago but it has a way to go to become "shock-proof," Eurogroup President Jeroen Dijsselbloem told CNBC. "A little bit more self-confidence (is what is needed). There's been a lot of criticism about how the euro works, how the monetary union works and over time, since we started the monetary union we've built it up, we've strengthened it and so I think we're coming into a new phase now," the euro zone politician who played a key role in bringing Greece back from the brink of collapse this summer, told CNBC. He said the euro zone's current phase was about stability and broadening the economic and political perspectives, the importance of which had been demonstrated by Greece's volatile summer before Prime Minister Alexis Tsipras agreed, albeit reluctantly, to a third bailout program.
cnbc, Articles, Business News, Economy, World Economy, Europe needs swagger, source:tagname:CNBC Europe Source
https://image.cnbcfm.com…jpg?v=1529469729
<div class="group"><p>Europe has come a long way since the height of the economic crisis that shook the region three years ago but it has a way to go to become "shock-proof," Eurogroup President Jeroen Dijsselbloem told CNBC.</p><p> "A little bit more self-confidence (is what is needed). There's been a lot of criticism about how the euro works, how the monetary union works and over time, since we started the monetary union we've built it up, we've strengthened it and so I think we're coming into a new phase now," the euro zone politician who played a key role in bringing Greece back from the brink of collapse this summer, told CNBC.</p><div style="height:100%" class="lazyload-placeholder"></div><p> He said the euro zone's current phase was about stability and broadening the economic and political perspectives, the importance of which had been demonstrated by Greece's volatile summer before Prime Minister Alexis Tsipras agreed, albeit reluctantly, to a third bailout program. </p><br></div>,<div class="group"><p> "Europe is coming out of a crisis. Growth has returned to all but one of the euro zone countries and it's picking up and becoming broader. I think we should use this current stage to become more shock-proof," he told CNBC in Lima, where the International Monetary Fund/World Bank's annual meeting was being held. </p><p> "In order to do that we need to extend and complete the banking union, build a capital markets union to diversify the way finance comes to our economy and we need to push forward with the structural reforms to become even more competitive." </p><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/10/11/global-economy-europes-crisis-of-confidence.html"> Europe's crisis of confidence</a><br></p><p> "So for Europe, it's about getting more growth, increasing potential growth and making sure we become more shock-proof," he added.</p><div style="height:100%" class="lazyload-placeholder"></div><p> Dijsselbloem's comments come as data point to a modest recovery in the 28-member European Union. In the second quarter of 2015, for instance, the EU and the 19-member euro zone grew at 1.6 percent and 1.2 percent percent respectively, from the same quarter in 2014.</p><p> Still, some of the region's biggest economies, Germany and France, have recently shown cause for concern, with <a href="https://www.cnbc.com/2015/09/23/euro-zone-composite-pmi-come-in-less-than-forecast-at-539.html">lackluster manufacturing and service sector output</a> and growth data. While in the second quarter, France had no growth at all from the previous quarter, Germany grew a meager 0.4 percent. </p><p> Dijsselbloem appeared optimistic, however, saying that current growth rates in Europe were "defying the pessimists" and that several countries such as Ireland, Spain, the Netherlands and Baltic countries were experiencing strong levels of growth. </p><p> In order to make those growth rates sustainable, however, Europe needed to deal with the "hindrances" in its economy, he said.</p><p> "We need to cut red tape, open up markets, make sure it's easier for people to start businesses and easier to get finance. If we deal with all these small, structural issues in our economy then I'm sure we can increase that potential growth with four percentage points."</p></div>,<div class="group"><p>- Written by CNBC's Holly Ellyatt, follow her on Twitter <a href="https://twitter.com/HollyEllyatt" target="_blank">@HollyEllyatt</a>. Follow us on Twitter: <a href="https://twitter.com/cnbcworld" target="_blank">@CNBCWorld</a><br></p></div>
Europe has come a long way since the height of the economic crisis that shook the region three years ago but it has a way to go to become "shock-proof," Eurogroup President Jeroen Dijsselbloem told CNBC. "A little bit more self-confidence (is what is needed). There's been a lot of criticism about how the euro works, how the monetary union works and over time, since we started the monetary union we've built it up, we've strengthened it and so I think we're coming into a new phase now," the euro zone politician who played a key role in bringing Greece back from the brink of collapse this summer, told CNBC. He said the euro zone's current phase was about stability and broadening the economic and political perspectives, the importance of which had been demonstrated by Greece's volatile summer before Prime Minister Alexis Tsipras agreed, albeit reluctantly, to a third bailout program. "Europe is coming out of a crisis. Growth has returned to all but one of the euro zone countries and it's picking up and becoming broader. I think we should use this current stage to become more shock-proof," he told CNBC in Lima, where the International Monetary Fund/World Bank's annual meeting was being held. "In order to do that we need to extend and complete the banking union, build a capital markets union to diversify the way finance comes to our economy and we need to push forward with the structural reforms to become even more competitive." Read More Europe's crisis of confidence "So for Europe, it's about getting more growth, increasing potential growth and making sure we become more shock-proof," he added. Dijsselbloem's comments come as data point to a modest recovery in the 28-member European Union. In the second quarter of 2015, for instance, the EU and the 19-member euro zone grew at 1.6 percent and 1.2 percent percent respectively, from the same quarter in 2014. Still, some of the region's biggest economies, Germany and France, have recently shown cause for concern, with lackluster manufacturing and service sector output and growth data. While in the second quarter, France had no growth at all from the previous quarter, Germany grew a meager 0.4 percent. Dijsselbloem appeared optimistic, however, saying that current growth rates in Europe were "defying the pessimists" and that several countries such as Ireland, Spain, the Netherlands and Baltic countries were experiencing strong levels of growth. In order to make those growth rates sustainable, however, Europe needed to deal with the "hindrances" in its economy, he said. "We need to cut red tape, open up markets, make sure it's easier for people to start businesses and easier to get finance. If we deal with all these small, structural issues in our economy then I'm sure we can increase that potential growth with four percentage points."- Written by CNBC's Holly Ellyatt, follow her on Twitter @HollyEllyatt. Follow us on Twitter: @CNBCWorld
2021-10-30 14:11:36.276314
Greek PM Tsipras says he seeks no rift with Europe
https://www.cnbc.com/2015/03/28/greek-pm-tsipras-says-he-seeks-no-rift-with-europe.html
2015-03-29T03:13:57+0000
null
CNBC
Greek Prime Minister Alexis Tsipras said on Saturday that he sought no rift with Europe after his cash-strapped country submitted a list of reforms to its lenders in a bid to secure much-needed funds. Tsipras' leftist government agreed an extension to its 240-million euro bailout fund in February, albeit with aid frozen, and now must agree on a set of reforms which it sent to its EU-IMF creditors on Friday in order to stave off bankruptcy. The austerity-weary nation will run out of money by April 20, a source told Reuters on Tuesday, if it does not unlock much-needed funding. "The liquidity problem is naturally hampering the situation but I believe that will be tackled immediately once we reach an agreement over reforms," Tsipras said in an interview with Sunday's Real News newspaper. After answering a question regarding government attempts to deal with corruption, Tsipras was asked whether he wanted a rift or a solution with Greece's partners: "My view has always been the same: a break from corruption, a solution with Europe."Read More Fitch downgrades Greece to 'CCC' from 'B' Earlier Energy Minister Panagiotis Lafazanis, one of Tsipras' most left-wing ministers, hit out at a "Germanised European Union.. for tightening week by week the noose around the Greek economy."
cnbc, Articles, Greece, Vladimir Putin, Europe, Business News, Economy, source:tagname:Reuters
https://image.cnbcfm.com…jpg?v=1529451565
<div class="group"><p> Greek Prime Minister Alexis Tsipras said on Saturday that he sought no rift with Europe after his cash-strapped country submitted a list of reforms to its lenders in a bid to secure much-needed funds.<br></p><p> Tsipras' leftist government agreed an extension to its 240-million euro bailout fund in February, albeit with aid frozen, and now must agree on a set of reforms which it sent to its EU-IMF creditors on Friday in order to stave off bankruptcy.</p><div style="height:100%" class="lazyload-placeholder"></div><p> The austerity-weary nation will run out of money by April 20, a source told Reuters on Tuesday, if it does not unlock much-needed funding.</p><p> "The liquidity problem is naturally hampering the situation but I believe that will be tackled immediately once we reach an agreement over reforms," Tsipras said in an interview with Sunday's Real News newspaper.</p><p> After answering a question regarding government attempts to deal with corruption, Tsipras was asked whether he wanted a rift or a solution with Greece's partners: "My view has always been the same: a break from corruption, a solution with Europe."</p><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/03/27/fitch-downgrades-greece-to-ccc-from-b.html"> Fitch downgrades Greece to 'CCC' from 'B'</a><br></p><p> Earlier Energy Minister Panagiotis Lafazanis, one of Tsipras' most left-wing ministers, hit out at a "Germanised European Union.. for tightening week by week the noose around the Greek economy."</p><div style="height:100%" class="lazyload-placeholder"></div></div>,<div class="group"><p> Athens says its reforms will boost state revenues by 3 billion euros ($3.3 billion) in 2015, partly by tackling tax evasion, but that it will oppose any new "recessionary measures" such as further wage or pension cuts.</p><p> As talks unfold, Finance Minister Varoufakis told Vima newspaper on Sunday that the reforms would not include a rise in VAT, which had been a concern on Greece's islands where rates are lower, but changes to tax collection would be made.</p><p> Varoufakis was the centre of speculation on Friday following a report in the German newspaper Bild that a Greek government source had said it was only a matter of time before he resigned. But Tsipras said Varoufakis was "one of the key members of the government".</p><p> <strong>China and Russia</strong></p><p> As Greece races to agree to raise funds, Deputy Prime Minister Yannis Dragasakis told China's official Xinhua news agency that Athens will sell its majority stake in the port of Piraeus within weeks, a flip-flop from its previous position.</p><p> Speaking during a visit by Greek officials to China, Dragasakis hinted that Chinese firm Costco Group - short-listed in a process launched by the previous centre-right government - was a front runner for the state's 67 percent stake.</p><p> And as Greece seeks to fill its state coffers, the Russian ambassador to Athens told Kathimerini newspaper that Moscow would examine any loan request from Greece, were it to be made.</p><p> Tsipras is due to visit Moscow on April 8 for talks with Russian President Vladimir Putin but the Greek government has stressed it is not seeking funding from the Kremlin.</p><p> On Saturday, Greece's energy ministry said Lafazanis will meet Russian Energy Minister Alexander Novak and Gazprom Chief Executive Alexei Miller on Monday in the capital, a week before Tsipras is due to arrive.</p><p> The previous centre-right government had planned to accelerate the sale of a 65 percent stake in gas utility DEPA, after an initial attempt to sell to Gazprom in 2013 failed. Within days of Syriza taking power in January, Lafazanis said he would scrap the sale.</p><p> DEPA has previously negotiated with Gazprom in a bid to get cheaper gas supplies and was one of the first European companies to obtain a rebate in 2011.</p><p> The two countries, which are both Orthodox Christian, have traditionally had good relations and Athens has never strongly supported sanctions against Russia over the conflict in Ukraine.</p></div>
Greek Prime Minister Alexis Tsipras said on Saturday that he sought no rift with Europe after his cash-strapped country submitted a list of reforms to its lenders in a bid to secure much-needed funds. Tsipras' leftist government agreed an extension to its 240-million euro bailout fund in February, albeit with aid frozen, and now must agree on a set of reforms which it sent to its EU-IMF creditors on Friday in order to stave off bankruptcy. The austerity-weary nation will run out of money by April 20, a source told Reuters on Tuesday, if it does not unlock much-needed funding. "The liquidity problem is naturally hampering the situation but I believe that will be tackled immediately once we reach an agreement over reforms," Tsipras said in an interview with Sunday's Real News newspaper. After answering a question regarding government attempts to deal with corruption, Tsipras was asked whether he wanted a rift or a solution with Greece's partners: "My view has always been the same: a break from corruption, a solution with Europe."Read More Fitch downgrades Greece to 'CCC' from 'B' Earlier Energy Minister Panagiotis Lafazanis, one of Tsipras' most left-wing ministers, hit out at a "Germanised European Union.. for tightening week by week the noose around the Greek economy." Athens says its reforms will boost state revenues by 3 billion euros ($3.3 billion) in 2015, partly by tackling tax evasion, but that it will oppose any new "recessionary measures" such as further wage or pension cuts. As talks unfold, Finance Minister Varoufakis told Vima newspaper on Sunday that the reforms would not include a rise in VAT, which had been a concern on Greece's islands where rates are lower, but changes to tax collection would be made. Varoufakis was the centre of speculation on Friday following a report in the German newspaper Bild that a Greek government source had said it was only a matter of time before he resigned. But Tsipras said Varoufakis was "one of the key members of the government". China and Russia As Greece races to agree to raise funds, Deputy Prime Minister Yannis Dragasakis told China's official Xinhua news agency that Athens will sell its majority stake in the port of Piraeus within weeks, a flip-flop from its previous position. Speaking during a visit by Greek officials to China, Dragasakis hinted that Chinese firm Costco Group - short-listed in a process launched by the previous centre-right government - was a front runner for the state's 67 percent stake. And as Greece seeks to fill its state coffers, the Russian ambassador to Athens told Kathimerini newspaper that Moscow would examine any loan request from Greece, were it to be made. Tsipras is due to visit Moscow on April 8 for talks with Russian President Vladimir Putin but the Greek government has stressed it is not seeking funding from the Kremlin. On Saturday, Greece's energy ministry said Lafazanis will meet Russian Energy Minister Alexander Novak and Gazprom Chief Executive Alexei Miller on Monday in the capital, a week before Tsipras is due to arrive. The previous centre-right government had planned to accelerate the sale of a 65 percent stake in gas utility DEPA, after an initial attempt to sell to Gazprom in 2013 failed. Within days of Syriza taking power in January, Lafazanis said he would scrap the sale. DEPA has previously negotiated with Gazprom in a bid to get cheaper gas supplies and was one of the first European companies to obtain a rebate in 2011. The two countries, which are both Orthodox Christian, have traditionally had good relations and Athens has never strongly supported sanctions against Russia over the conflict in Ukraine.
2021-10-30 14:11:36.363816
GLOBAL MARKETS-Euro rises on Spain speculation, stocks fall
https://www.cnbc.com/2012/10/02/global-marketseuro-rises-on-spain-speculation-stocks-fall.html
2012-10-02T18:23:00+0000
null
CNBC
(Adds comment, details, updates prices)* Spain seen requesting bailout, but uncertainty weighs* Worries on 3rd-quarter earnings dog stock markets* Gold holds near highest level of the year* Aussie dollar slips as RBA cuts ratesBy Wanfeng ZhouNEW YORK, Oct 2 (Reuters) - The euro rose against the dollaron Tuesday on expectations that a request by Spain for a bailoutis imminent, but major stock markets fell on uncertainty of whenMadrid will make its request and growing uneasiness overthird-quarter earnings.European officials said on Monday that Spain is ready tomake the request for a euro zone bailout as early as nextweekend, although Germany has signaled that it should hold off.A request for a bailout is viewed as positive for financialmarkets because it would trigger Spanish bond buying by theEuropean Central Bank, which would lower the country's borrowingcosts. It would also remove another layer of uncertainty in theregion's three-year old debt crisis."Spain being rescued would be good for risk assets andultimately global growth, but while the benefits are largelypriced in, we're still getting conflicting signals thatunderstandably have investors apprehensive," said Brian Barish,president of Cambiar Investors LLC in Denver, who helps oversee$7 billion."Until we get some kind of clarity, we should expect a lotof volatility and difficulty holding onto gains," Barish said.Adding to the confusion about when aid could arrive, SpanishPrime Minister Mariano Rajoy said on Tuesday that a request forEuropean aid was not imminent.The MSCI global stock indexslipped 0.1percent to 332.84.Wall Street stocks surrendered early gains and turnednegative. The Dow Jones industrial averagedropped 68.46points, or 0.51 percent, to 13,446.65. The Standard & Poor's 500Indexdropped 3.21 points, or 0.22 percent, to 1,441.28.The Nasdaq Composite Indexdropped 4.41 points, or 0.14percent, to 3,109.12.The Dow was pressured by stocks closely tied to the pace ofgrowth, including heavy machinery maker Caterpillar Incand plane maker Boeing Co. A major headwind for theglobal economy has been falling demand from Europe, which hasbeen drifting toward recession.Weaker-than-expected results from fertilizer producer Mosaicadded to worries about the third-quarter earningsseason, which will kick off in earnest next week. Mosaic sharesslid 4.7 percent and were the biggest percentage decliner on theS&P.The FTSEurofirst-300 index of pan-European sharesfell 0.3 percent to end at 1,101.89 points, also weighed bydoubts over third-quarter results and weakness in basicresources stocks."The real key to create confidence is positive earningssurprises, positive economic data surprises," said PhilipIsherwood, European strategist at Absolute Strategy Research.<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^GRAPHICSEuro debt crisisItaly, Spain market overview^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>INVESTORS ON EDGEThe euro rose 0.3 percent to $1.2927, notching asecond straight day of gains against the greenback, while thedollar gained 0.2 percent against the yen to 78.10 yen.But uncertainty over the timing of Spain's request for aidkept investors on edge, with many selling the euro at higherlevels. Another risk factor is rating agency Moody's soon-to-beannounced review of Spain's rating, which could see it cut tojunk status.Joe Manimbo, senior market analyst at Western Union BusinessSolutions in Washington, said worries about euro zone growthwould keep the European Central Bank in easing mode, capping anyeuro upside.Investors also awaited a number of central bank meetingslater this week. The European Central Bank, the Bank of Englandand the Bank of Japan all meet this week, although none isexpected to change benchmark interest rates.Earlier on Tuesday, Australia's central bank cut its mainrate by a quarter point to 3.25 percent. The Australian dollarfell to a one-month low of $1.0291 and last traded down0.9 percent at $1.0297.U.S. Treasuries prices reversed early losses to edge higheras stock losses boosted the bid for safe-haven U.S. debt. Thebenchmark 10-year U.S. Treasury note was up 1/32, with the yieldat 1.6146 percent.Brent crudeslipped 31 cents to $111.88 a barrel asinvestors weighed a weaker outlook for fuel demand and sluggisheconomic growth. U.S. crudefell 16 cents to $92.32.Gold pricesremained close to their highest level ofthe year. Gold is seen as a safe-haven asset. Spot gold was lastat $1,772.99 an ounce.(Additional reporting by Marc Jones in London and GertrudeChavez-Dreyfuss and Ellen Freilich in New York; Editing byLeslie Adler)(([email protected])(+1 646 223 6304)(ReutersMessaging: [email protected]))((To read Reuters Global Investing Blog click on;for the Macro Scope Blog click on;for Hedge Fund Blog Hubclick on)((For the state of play of Asian stock markets please click on:))Keywords: MARKETS GLOBAL/
cnbc, Articles, Caterpillar Inc, Europe, Washington DC, New York City, New York, Denver, Colorado, North America, Australasia, United States, Western Europe, United Kingdom, London, Australia & New Zealand, Spain, Italy, Germany, Wires, source:tagname:Thomson Financial News
https://sc.cnbcfm.com/ap…1804&w=720&h=405
<div class="group"><p>(Adds comment, details, updates prices)</p><p>* Spain seen requesting bailout, but uncertainty weighs</p><div style="height:100%" class="lazyload-placeholder"></div><p>* Worries on 3rd-quarter earnings dog stock markets</p><p>* Gold holds near highest level of the year</p><p>* Aussie dollar slips as RBA cuts rates</p><p>By Wanfeng Zhou</p><p>NEW YORK, Oct 2 (Reuters) - The euro rose against the dollaron Tuesday on expectations that a request by Spain for a bailoutis imminent, but major stock markets fell on uncertainty of whenMadrid will make its request and growing uneasiness overthird-quarter earnings.</p><div style="height:100%" class="lazyload-placeholder"></div><p>European officials said on Monday that Spain is ready tomake the request for a euro zone bailout as early as nextweekend, although Germany has signaled that it should hold off.</p><p>A request for a bailout is viewed as positive for financialmarkets because it would trigger Spanish bond buying by theEuropean Central Bank, which would lower the country's borrowingcosts. It would also remove another layer of uncertainty in theregion's three-year old debt crisis.</p><p>"Spain being rescued would be good for risk assets andultimately global growth, but while the benefits are largelypriced in, we're still getting conflicting signals thatunderstandably have investors apprehensive," said Brian Barish,president of Cambiar Investors LLC in Denver, who helps oversee$7 billion.</p><p>"Until we get some kind of clarity, we should expect a lotof volatility and difficulty holding onto gains," Barish said.</p><p>Adding to the confusion about when aid could arrive, SpanishPrime Minister Mariano Rajoy said on Tuesday that a request forEuropean aid was not imminent.</p><p>The MSCI global stock indexslipped 0.1percent to 332.84.</p><p>Wall Street stocks surrendered early gains and turnednegative. The Dow Jones industrial average</p><p>dropped 68.46points, or 0.51 percent, to 13,446.65. The Standard &amp; Poor's 500Index</p><p>dropped 3.21 points, or 0.22 percent, to 1,441.28.The Nasdaq Composite Indexdropped 4.41 points, or 0.14percent, to 3,109.12.</p><p>The Dow was pressured by stocks closely tied to the pace ofgrowth, including heavy machinery maker Caterpillar Inc</p><p>and plane maker Boeing Co</p><p>. A major headwind for theglobal economy has been falling demand from Europe, which hasbeen drifting toward recession.</p><p>Weaker-than-expected results from fertilizer producer Mosaic</p><p>added to worries about the third-quarter earningsseason, which will kick off in earnest next week. Mosaic sharesslid 4.7 percent and were the biggest percentage decliner on theS&amp;P.</p><p>The FTSEurofirst-300 index of pan-European shares</p><p>fell 0.3 percent to end at 1,101.89 points, also weighed bydoubts over third-quarter results and weakness in basicresources stocks.</p><p>"The real key to create confidence is positive earningssurprises, positive economic data surprises," said PhilipIsherwood, European strategist at Absolute Strategy Research.</p><p>&lt;^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^</p><p>GRAPHICSEuro debt crisisItaly, Spain market overview</p><p>^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^&gt;</p><p>INVESTORS ON EDGE</p><p>The euro rose 0.3 percent to $1.2927</p><p>, notching asecond straight day of gains against the greenback, while thedollar gained 0.2 percent against the yen to 78.10 yen</p><p>.</p><p>But uncertainty over the timing of Spain's request for aidkept investors on edge, with many selling the euro at higherlevels. Another risk factor is rating agency Moody's soon-to-beannounced review of Spain's rating, which could see it cut tojunk status.</p><p>Joe Manimbo, senior market analyst at Western Union BusinessSolutions in Washington, said worries about euro zone growthwould keep the European Central Bank in easing mode, capping anyeuro upside.</p><p>Investors also awaited a number of central bank meetingslater this week. The European Central Bank, the Bank of Englandand the Bank of Japan all meet this week, although none isexpected to change benchmark interest rates.</p><p>Earlier on Tuesday, Australia's central bank cut its mainrate by a quarter point to 3.25 percent. The Australian dollar</p><p>fell to a one-month low of $1.0291 and last traded down0.9 percent at $1.0297.</p><p>U.S. Treasuries prices reversed early losses to edge higheras stock losses boosted the bid for safe-haven U.S. debt. Thebenchmark 10-year U.S. Treasury note was up 1/32, with the yieldat 1.6146 percent</p><p>.Brent crude</p><p>slipped 31 cents to $111.88 a barrel asinvestors weighed a weaker outlook for fuel demand and sluggisheconomic growth. U.S. crude</p><p>fell 16 cents to $92.32.Gold prices</p><p>remained close to their highest level ofthe year. Gold is seen as a safe-haven asset. Spot gold was lastat $1,772.99 an ounce.</p><p>(Additional reporting by Marc Jones in London and GertrudeChavez-Dreyfuss and Ellen Freilich in New York; Editing byLeslie Adler)</p><p>((<a href="mailto:[email protected]" target="_blank">[email protected]</a>)(+1 646 223 6304)(ReutersMessaging: <a href="mailto:[email protected]" target="_blank">[email protected]</a>))</p><p>((To read Reuters Global Investing Blog click on</p><p>;</p><p>for the Macro Scope Blog click on</p><p>;for Hedge Fund Blog Hubclick on)</p><p>((For the state of play of Asian stock markets please click on:</p><p>))Keywords: MARKETS GLOBAL/</p></div>
(Adds comment, details, updates prices)* Spain seen requesting bailout, but uncertainty weighs* Worries on 3rd-quarter earnings dog stock markets* Gold holds near highest level of the year* Aussie dollar slips as RBA cuts ratesBy Wanfeng ZhouNEW YORK, Oct 2 (Reuters) - The euro rose against the dollaron Tuesday on expectations that a request by Spain for a bailoutis imminent, but major stock markets fell on uncertainty of whenMadrid will make its request and growing uneasiness overthird-quarter earnings.European officials said on Monday that Spain is ready tomake the request for a euro zone bailout as early as nextweekend, although Germany has signaled that it should hold off.A request for a bailout is viewed as positive for financialmarkets because it would trigger Spanish bond buying by theEuropean Central Bank, which would lower the country's borrowingcosts. It would also remove another layer of uncertainty in theregion's three-year old debt crisis."Spain being rescued would be good for risk assets andultimately global growth, but while the benefits are largelypriced in, we're still getting conflicting signals thatunderstandably have investors apprehensive," said Brian Barish,president of Cambiar Investors LLC in Denver, who helps oversee$7 billion."Until we get some kind of clarity, we should expect a lotof volatility and difficulty holding onto gains," Barish said.Adding to the confusion about when aid could arrive, SpanishPrime Minister Mariano Rajoy said on Tuesday that a request forEuropean aid was not imminent.The MSCI global stock indexslipped 0.1percent to 332.84.Wall Street stocks surrendered early gains and turnednegative. The Dow Jones industrial averagedropped 68.46points, or 0.51 percent, to 13,446.65. The Standard & Poor's 500Indexdropped 3.21 points, or 0.22 percent, to 1,441.28.The Nasdaq Composite Indexdropped 4.41 points, or 0.14percent, to 3,109.12.The Dow was pressured by stocks closely tied to the pace ofgrowth, including heavy machinery maker Caterpillar Incand plane maker Boeing Co. A major headwind for theglobal economy has been falling demand from Europe, which hasbeen drifting toward recession.Weaker-than-expected results from fertilizer producer Mosaicadded to worries about the third-quarter earningsseason, which will kick off in earnest next week. Mosaic sharesslid 4.7 percent and were the biggest percentage decliner on theS&P.The FTSEurofirst-300 index of pan-European sharesfell 0.3 percent to end at 1,101.89 points, also weighed bydoubts over third-quarter results and weakness in basicresources stocks."The real key to create confidence is positive earningssurprises, positive economic data surprises," said PhilipIsherwood, European strategist at Absolute Strategy Research.<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^GRAPHICSEuro debt crisisItaly, Spain market overview^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>INVESTORS ON EDGEThe euro rose 0.3 percent to $1.2927, notching asecond straight day of gains against the greenback, while thedollar gained 0.2 percent against the yen to 78.10 yen.But uncertainty over the timing of Spain's request for aidkept investors on edge, with many selling the euro at higherlevels. Another risk factor is rating agency Moody's soon-to-beannounced review of Spain's rating, which could see it cut tojunk status.Joe Manimbo, senior market analyst at Western Union BusinessSolutions in Washington, said worries about euro zone growthwould keep the European Central Bank in easing mode, capping anyeuro upside.Investors also awaited a number of central bank meetingslater this week. The European Central Bank, the Bank of Englandand the Bank of Japan all meet this week, although none isexpected to change benchmark interest rates.Earlier on Tuesday, Australia's central bank cut its mainrate by a quarter point to 3.25 percent. The Australian dollarfell to a one-month low of $1.0291 and last traded down0.9 percent at $1.0297.U.S. Treasuries prices reversed early losses to edge higheras stock losses boosted the bid for safe-haven U.S. debt. Thebenchmark 10-year U.S. Treasury note was up 1/32, with the yieldat 1.6146 percent.Brent crudeslipped 31 cents to $111.88 a barrel asinvestors weighed a weaker outlook for fuel demand and sluggisheconomic growth. U.S. crudefell 16 cents to $92.32.Gold pricesremained close to their highest level ofthe year. Gold is seen as a safe-haven asset. Spot gold was lastat $1,772.99 an ounce.(Additional reporting by Marc Jones in London and GertrudeChavez-Dreyfuss and Ellen Freilich in New York; Editing byLeslie Adler)(([email protected])(+1 646 223 6304)(ReutersMessaging: [email protected]))((To read Reuters Global Investing Blog click on;for the Macro Scope Blog click on;for Hedge Fund Blog Hubclick on)((For the state of play of Asian stock markets please click on:))Keywords: MARKETS GLOBAL/
2021-10-30 14:11:36.399729
'I come to bury Bitcoin, not to praise it': UBS 
https://www.cnbc.com/2018/11/30/i-come-to-bury-bitcoin-not-to-praise-it-ubs.html
2018-11-30T11:38:30+0000
Tyler Clifford
CNBC
Cryptocurrencies are nearing the end of the road, and it's time to do away with the digital coins, UBS Gobal Wealth Management's chief economist said.UBS Paul Donovan, who has never been a fan of cryptocurrency, wrote earlier this week: "I come to bury Bitcoin, not to praise it.""These things were never going to be currencies. They're not going to be currencies at any point in the future," he said Thursday on CNBC's "Fast Money." "They're fatally flawed."Bitcoin received lots of love during the 2017 holiday season when it began rallying to nearly $20,000. But Donovan was skeptical then, warning that it could be "destructive" in the long term."Right from the start of the hike in late last year, it was fairly obvious that this was going to end badly, unfortunately, for some of the people who weren't protected by any kind of regulation and got sucked into the process," he told CNBC.After peaking, bitcoin is now trading around $4,330. Overall, the cryptocurrency market has lost about $700 billion since reaching highs in January.Donovan thinks the cryptocurrency could be in its "death throes" because losing 80 percent value "is not healthy." Government, he said, is "one of the main obstacles" to bitcoin, adding the idea of digital currency replacing the dollar "is quite a leap.""The main problem with these things, the absolute fundamental flaw, is that they're never going to be a store of value," he said. "Every economist knows the store of value is about balancing supply and demand, and with cryptocurrencies, you cannot control the supply in response to the drop in demand."WATCH: When bitcoin hit $100 for the first time in 2013
cnbc, Articles, Bitcoin/USD Bitfinex, Economy, Currency markets, Stock markets, Markets, Bitcoin, Cryptocurrency, stocks, Currencies, source:tagname:CNBC US Source
https://image.cnbcfm.com…peg?v=1570479064
<div class="group"><p>Cryptocurrencies are nearing the end of the road, and it's time to do away with the digital coins, UBS Gobal Wealth Management's chief economist said.</p><p>UBS Paul Donovan, who has <a href="https://www.cnbc.com/2017/12/11/ubs-cryptocurrencies-like-bitcoin-are-the-bubble-to-end-all-bubbles.html">never been a fan of cryptocurrency</a>, wrote earlier this week: "I come to bury <a href="https://www.cnbc.com/quotes/BTC.BF=">Bitcoin</a>, not to praise it."</p><div style="height:100%" class="lazyload-placeholder"></div><p>"These things were never going to be currencies. They're not going to be currencies at any point in the future," he said Thursday on CNBC's <a href="https://www.cnbc.com/fast-money/">"Fast Money."</a> "They're fatally flawed."</p><p>Bitcoin received lots of love during the 2017 holiday season when it began rallying to nearly $20,000. But Donovan was skeptical then, warning that it <a href="https://www.cnbc.com/2017/12/12/bitcoin-bubble-destructive-consequences-ubs-says.html">could be "destructive" in the long term</a>.</p><p>"Right from the start of the hike in late last year, it was fairly obvious that this was going to end badly, unfortunately, for some of the people who weren't protected by any kind of regulation and got sucked into the process," he told CNBC.</p><p>After peaking, bitcoin is now trading around $4,330. Overall, the cryptocurrency market has <a href="https://www.cnbc.com/2018/11/23/cryptocurrencies-have-shed-almost-700-billion-since-january-peak.html">lost about $700 billion since reaching highs in January</a>.</p><p>Donovan thinks the cryptocurrency could be in its "death throes" because losing 80 percent value "is not healthy." Government, he said, is "one of the main obstacles" to bitcoin, adding the idea of digital currency replacing the dollar "is quite a leap."</p><div style="height:100%" class="lazyload-placeholder"></div><p>"The main problem with these things, the absolute fundamental flaw, is that they're never going to be a store of value," he said. "Every economist knows the store of value is about balancing supply and demand, and with cryptocurrencies, you cannot control the supply in response to the drop in demand."</p><p><strong>WATCH:</strong> <a href="https://www.cnbc.com/video/2018/10/31/when-bitcoin-hit-100-watch-cnbcs-2013-coverage.html">When bitcoin hit $100 for the first time in 2013</a></p></div>,<div class="group"></div>
Cryptocurrencies are nearing the end of the road, and it's time to do away with the digital coins, UBS Gobal Wealth Management's chief economist said.UBS Paul Donovan, who has never been a fan of cryptocurrency, wrote earlier this week: "I come to bury Bitcoin, not to praise it.""These things were never going to be currencies. They're not going to be currencies at any point in the future," he said Thursday on CNBC's "Fast Money." "They're fatally flawed."Bitcoin received lots of love during the 2017 holiday season when it began rallying to nearly $20,000. But Donovan was skeptical then, warning that it could be "destructive" in the long term."Right from the start of the hike in late last year, it was fairly obvious that this was going to end badly, unfortunately, for some of the people who weren't protected by any kind of regulation and got sucked into the process," he told CNBC.After peaking, bitcoin is now trading around $4,330. Overall, the cryptocurrency market has lost about $700 billion since reaching highs in January.Donovan thinks the cryptocurrency could be in its "death throes" because losing 80 percent value "is not healthy." Government, he said, is "one of the main obstacles" to bitcoin, adding the idea of digital currency replacing the dollar "is quite a leap.""The main problem with these things, the absolute fundamental flaw, is that they're never going to be a store of value," he said. "Every economist knows the store of value is about balancing supply and demand, and with cryptocurrencies, you cannot control the supply in response to the drop in demand."WATCH: When bitcoin hit $100 for the first time in 2013
2021-10-30 14:11:36.436113
Jon Stewart joins Stephen Colbert to mock that 'angry groundhog' Donald Trump
https://www.cnbc.com/2016/07/22/jon-stewart-joins-stephen-colbert-to-mock-that-angry-groundhog-donald-trump.html
2016-07-22T11:44:12+0000
null
CNBC
It's been 351 days since Jon Stewart sat behind the desk of a late-night talk show and delivered jokes about US politics and the day's headlines. In the time since Stewart left The Daily Show (on August 6, 2015), his many proteges have spread far and wide across the TV landscape. Samantha Bee is on TBS. John Oliver has reached new heights on HBO. Trevor Noah took over The Daily Show. And Stephen Colbert has landed at CBS's Late Show. (Stewart himself has a deal with HBO that he'll presumably start producing content for one of these days.) But something else happened in those 351 days: Donald Trump became the Republican party's nominee for president. And in all that time, doesn't it seem like Stewart would have some pretty great jokes to share about a man he dubs an "angry groundhog"? More from Vox:Why Hillary Clinton, not Donald Trump, was the unifying figure at theRNCDonald Trump gave Bernie Sanders a shout-out andSanders was not amusedTed Cruz played Donald Trump's reality TV game — and won As it turns out, he did! After he popped up on the latest episode of Colbert's show (where he's been turning in appearances all week), the host ceded the floor to his old boss, and Stewart proceeded to lay into Fox News's praising of Trump — for the exact same things they've criticized for over the course of his presidency. (If you're wondering where Colbert was this whole time, he was crouching just behind the desk, so he could pop up for the occasional joke, as you'll see from this Tweet he shared.) Stephen Colbert tweet It was a nice taste of vintage Jon Stewart, for all those who've enjoyed the many, many shows his Daily Show spawned but wanted something from the man himself. He performed a quick tune from Hamilton. He dubbed Sean Hannity "Lumpy." He learned the hard way that he was on live TV. It was all a fun bit, made even more fun by Stewart's obvious rustiness when it came to hosting a TV show. But the best part was its conclusion: a lengthy, vintage rant from Stewart that deserves to be quoted (mostly) in full. Stewart clearly stopped by Late Show to offer his old pal a boost in the ratings — creatively, the show is finally coming close to the heights of The Colbert Report, so this was a good time for viewers to sample the program — but it was also fun to watch him shake off the cobwebs and deliver jokes to a camera again. Here's hoping the next time isn't another 351 days from now.
cnbc, Articles, Donald Trump, Media, Elections, Politics, US: News, Technology, source:tagname:Vox
https://image.cnbcfm.com…png?v=1529472222
<div class="group"><p> It's been 351 days since Jon Stewart sat behind the desk of a late-night talk show and delivered jokes about US politics and the day's headlines.</p><p> In the time since Stewart left The Daily Show (on August 6, 2015), his many proteges have spread far and wide across the TV landscape. Samantha Bee is on TBS. John Oliver has reached new heights on HBO. Trevor Noah took over The Daily Show. And Stephen Colbert has landed at CBS's Late Show. (Stewart himself has a deal with HBO that he'll presumably start producing content for one of these days.)<br></p><div style="height:100%" class="lazyload-placeholder"></div><p> But something else happened in those 351 days: <a href="https://www.cnbc.com/donald-trump/">Donald Trump</a> became the Republican party's nominee for president. And in all that time, doesn't it seem like Stewart would have some pretty great jokes to share about a man he dubs an "angry groundhog"?</p><p><strong> More from Vox:<span style="background-color:rgb(255, 255, 255)"><br></span></strong><a href="http://www.vox.com/2016/7/22/12254188/clinton-rnc-focus/in/11938117" target="_blank">Why Hillary Clinton, not Donald Trump, was the unifying figure at theRNC</a><br><a href="http://www.vox.com/2016/7/22/12255110/bernie-sanders-live-tweeted-trumps-rnc-speech/in/11938117" target="_blank">Donald Trump gave Bernie Sanders a shout-out andSanders was not amused</a><br><a href="http://www.vox.com/2016/7/21/12246112/republican-convention-ted-cruz-donald-trump-endorsement" target="_blank">Ted Cruz played Donald Trump's reality TV game — and won</a></p><p> As it turns out, he did! After he popped up on the latest episode of Colbert's show (where he's been turning in appearances all week), the host ceded the floor to his old boss, and Stewart proceeded to lay into Fox News's praising of Trump — for the exact same things they've criticized <!-- --> for over the course of his presidency.</p><p> (If you're wondering where Colbert was this whole time, he was crouching just behind the desk, so he could pop up for the occasional joke, as you'll see from this Tweet he shared.)<br></p><p> <a href="https://twitter.com/StephenAtHome/status/756401361424621578" target="_blank">Stephen Colbert tweet</a></p><div style="height:100%" class="lazyload-placeholder"></div><p> It was a nice taste of vintage Jon Stewart, for all those who've enjoyed the many, many shows his <em>Daily Show</em> spawned but wanted something from the man himself. He performed a quick tune from <em>Hamilton</em>. He dubbed Sean Hannity "Lumpy." He learned the hard way that he was on live TV.</p><p> It was all a fun bit, made even more fun by Stewart's obvious rustiness when it came to hosting a TV show. But the best part was its conclusion: a lengthy, vintage rant from Stewart that deserves to be quoted (mostly) in full.</p><div class="ArticleBody-blockquote"> <p> <span>You [Hannity and Fox News hosts] feel that you're this country's rightful owners. There's only one problem with that. This country isn't yours. You don't own it. It never was. There is no real America. ... I see you. You've got a problem with those Americans fighting for their place at the table. You've got a problem with them because you feel like the — what's Representative Steve King's word for it? — subgroups of Americans are being divisive. Well, if you have a problem with that, take it up with the Founders. ... Those fighting to be included in the ideal of equality are not being divisive. Those fighting to keep those people out, are.</span><br> </p></div><p> <span>Stewart clearly stopped by </span><em>Late Show</em><span> to offer his old pal a boost in the ratings — creatively, the show is finally coming close to the heights of </span><em><a href="http://www.imdb.com/title/tt0458254/?ref_=nv_sr_1" target="_blank">The Colbert Report</a></em><span>, so this was a good time for viewers to sample the program — but it was also fun to watch him shake off the cobwebs and deliver jokes to a camera again. Here's hoping the next time isn't another 351 days from now.</span><span><br></span></p></div>
It's been 351 days since Jon Stewart sat behind the desk of a late-night talk show and delivered jokes about US politics and the day's headlines. In the time since Stewart left The Daily Show (on August 6, 2015), his many proteges have spread far and wide across the TV landscape. Samantha Bee is on TBS. John Oliver has reached new heights on HBO. Trevor Noah took over The Daily Show. And Stephen Colbert has landed at CBS's Late Show. (Stewart himself has a deal with HBO that he'll presumably start producing content for one of these days.) But something else happened in those 351 days: Donald Trump became the Republican party's nominee for president. And in all that time, doesn't it seem like Stewart would have some pretty great jokes to share about a man he dubs an "angry groundhog"? More from Vox:Why Hillary Clinton, not Donald Trump, was the unifying figure at theRNCDonald Trump gave Bernie Sanders a shout-out andSanders was not amusedTed Cruz played Donald Trump's reality TV game — and won As it turns out, he did! After he popped up on the latest episode of Colbert's show (where he's been turning in appearances all week), the host ceded the floor to his old boss, and Stewart proceeded to lay into Fox News's praising of Trump — for the exact same things they've criticized for over the course of his presidency. (If you're wondering where Colbert was this whole time, he was crouching just behind the desk, so he could pop up for the occasional joke, as you'll see from this Tweet he shared.) Stephen Colbert tweet It was a nice taste of vintage Jon Stewart, for all those who've enjoyed the many, many shows his Daily Show spawned but wanted something from the man himself. He performed a quick tune from Hamilton. He dubbed Sean Hannity "Lumpy." He learned the hard way that he was on live TV. It was all a fun bit, made even more fun by Stewart's obvious rustiness when it came to hosting a TV show. But the best part was its conclusion: a lengthy, vintage rant from Stewart that deserves to be quoted (mostly) in full. You [Hannity and Fox News hosts] feel that you're this country's rightful owners. There's only one problem with that. This country isn't yours. You don't own it. It never was. There is no real America. ... I see you. You've got a problem with those Americans fighting for their place at the table. You've got a problem with them because you feel like the — what's Representative Steve King's word for it? — subgroups of Americans are being divisive. Well, if you have a problem with that, take it up with the Founders. ... Those fighting to be included in the ideal of equality are not being divisive. Those fighting to keep those people out, are. Stewart clearly stopped by Late Show to offer his old pal a boost in the ratings — creatively, the show is finally coming close to the heights of The Colbert Report, so this was a good time for viewers to sample the program — but it was also fun to watch him shake off the cobwebs and deliver jokes to a camera again. Here's hoping the next time isn't another 351 days from now.
2021-10-30 14:11:36.587615
Will Stocks Resist 'Anything but Utmost Catastrophe'?
https://www.cnbc.com/2011/11/17/will-stocks-resist-anything-but-utmost-catastrophe.html
2011-11-17T11:50:06+0000
Shai Ahmed
CNBC
Stock markets have taken such a beating over the past few months that they are now more resilient to any upheavals, apart from a complete breakdown of the euro zone, an analyst told CNBC Thursday.
cnbc, Articles, Business News, Economy, World Economy, Europe News, source:tagname:CNBC US Source
https://image.cnbcfm.com…jpg?v=1349480167
<div class="group"><p>Stock markets have taken such a beating over the past few months that they are now more resilient to any upheavals, apart from a complete breakdown of the euro zone, an analyst told CNBC Thursday.</p></div>,<div class="group"><p>"We've managed to get through all of these bond auctions in all of these markets with some measure of success.</p><div style="height:100%" class="lazyload-placeholder"></div><p>A failure would be a setback but even then it's not too critical," Richard Harris, CEO at Quam Asset Management.</p><p>"Equity markets have been really beaten down over the last six months to a year and they now look reasonably resistant to anything but utmost catastrophe," he said.</p><p>However, he conceded that there was still a long way to go before Europe's debt crisis was resolved with the situation more like being 'one step up and two steps down'.</p><p>"We have to jump through a lot of hurdles over the next three or four months, we have the bond auctions today, the Spanish elections will be very interesting, which might not be conclusive on Sunday, you have a whole bunch of technocrats and I am sure the French triple A (rating) is going to go sometime and that will be another blow to markets," he added.</p><p>Both Spain and France held unimpressive bond auctions Thursday - some bond yields hit euro-era highs -as fears that the crisis would engulf the bigger euro zone economies persisted. </p><div style="height:100%" class="lazyload-placeholder"></div><p>He said that it was now likely that the euro would survive with the worst case being the loss of a few countries despite European leaders adopting the 'sticking plaster' over the wound method rather than seeking an outright fix.</p><p>Steven Bell, chief economist at GLC, disagreed saying the situation in Europe was now so serious it threatened even Germany, whose "economic miracle" Bell said was now at an end.</p><p>"The end game for this may be Germany shouldering the financial responsibility for this, yet every time a crack appears in Spain or Italy or anywhere else people buy Bunds.</p><p>Now the only thing you can hold in Europe is Bunds. That is a ridiculous situation," Bell told CNBC.</p><p>He said German banks and companies were suffering to the point where Germany was now in a recession.</p><p>"This is entirely and completely a result of failing to sort out this European crisis. I'm not optimistic about the ability of Europe's many and varied political leaders to come to that solution quickly," Bell added.</p></div>
Stock markets have taken such a beating over the past few months that they are now more resilient to any upheavals, apart from a complete breakdown of the euro zone, an analyst told CNBC Thursday."We've managed to get through all of these bond auctions in all of these markets with some measure of success.A failure would be a setback but even then it's not too critical," Richard Harris, CEO at Quam Asset Management."Equity markets have been really beaten down over the last six months to a year and they now look reasonably resistant to anything but utmost catastrophe," he said.However, he conceded that there was still a long way to go before Europe's debt crisis was resolved with the situation more like being 'one step up and two steps down'."We have to jump through a lot of hurdles over the next three or four months, we have the bond auctions today, the Spanish elections will be very interesting, which might not be conclusive on Sunday, you have a whole bunch of technocrats and I am sure the French triple A (rating) is going to go sometime and that will be another blow to markets," he added.Both Spain and France held unimpressive bond auctions Thursday - some bond yields hit euro-era highs -as fears that the crisis would engulf the bigger euro zone economies persisted. He said that it was now likely that the euro would survive with the worst case being the loss of a few countries despite European leaders adopting the 'sticking plaster' over the wound method rather than seeking an outright fix.Steven Bell, chief economist at GLC, disagreed saying the situation in Europe was now so serious it threatened even Germany, whose "economic miracle" Bell said was now at an end."The end game for this may be Germany shouldering the financial responsibility for this, yet every time a crack appears in Spain or Italy or anywhere else people buy Bunds.Now the only thing you can hold in Europe is Bunds. That is a ridiculous situation," Bell told CNBC.He said German banks and companies were suffering to the point where Germany was now in a recession."This is entirely and completely a result of failing to sort out this European crisis. I'm not optimistic about the ability of Europe's many and varied political leaders to come to that solution quickly," Bell added.
2021-10-30 14:11:36.622945
Biden plans to visit Texas, ask FEMA to accelerate major disaster declaration
https://www.cnbc.com/2021/02/19/biden-says-he-plans-to-visit-texas-next-week-asked-fema-to-accelerate-major-disaster-declaration.html
2021-02-19T16:48:01+0000
Dan Mangan
CNBC
President Joe Biden said Friday that he plans to visit Texas next week as millions of residents there continue struggling with power outages after a major winter storm.Biden also said he will ask the administration of the Federal Emergent Management Agency to accelerate a request for a declaration of a major disaster in Texas, which would free up federal funds to aid in relief efforts there."As I said when I ran, I'm going to be a president for all Americans," said Biden, who was defeated last fall in Texas' presidential election by then-President Donald Trump."I'm, going to sign [that] declaration once that's in front of me" which "God-willing will bring relief to a lot of Texans," the president said.Biden said he had planned on traveling to Texas in the middle of next week, but cautioned that "I don't want to be a burden."He said that "if I can do it without creating a burden for folks, I plan on going.""I'll make that decision beginning of next week," Biden said.
cnbc, Articles, Breaking News: Politics, Joe Biden, Politics, Natural disasters, Donald Trump, White House, Weather and Natural Disasters, source:tagname:CNBC US Source
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<div class="group"><p>President <a href="https://www.cnbc.com/joe-biden/">Joe Biden</a> said Friday that he plans to visit Texas next week as millions of residents there continue struggling <a href="https://www.cnbc.com/2021/02/18/texas-grid-failure-ignites-feud-over-gop-oversight-of-energy-industry-.html">with power outages after a major winter storm.</a></p><p>Biden also said he will ask the administration of the Federal Emergent Management Agency to accelerate a request for a declaration of a major disaster in Texas, which would free up federal funds to aid in relief efforts there.</p><div style="height:100%" class="lazyload-placeholder"></div><p>"As I said when I ran<a href="https://www.cnbc.com/2021/02/19/texas-grid-operator-to-end-emergency-conditions-millions-still-under-boil-water-notice.html">, I'm going to be a president for all Americans,"</a> said Biden, who was defeated last fall in Texas' presidential election by then-President <a href="https://www.cnbc.com/donald-trump/">Donald Trump</a>.</p><p>"I'm, going to sign [that] declaration once that's in front of me" which "God-willing will bring relief to a lot of <a href="https://www.cnbc.com/2021/02/18/texas-grid-failure-ignites-feud-over-gop-oversight-of-energy-industry-.html">Texans," the president said.</a></p><p>Biden said he had planned on traveling to Texas in the middle of next week, but cautioned that "I don't want to be a burden."</p><p>He said that "if I can do it without creating a burden for folks, I plan on going."</p><p>"I'll make that decision beginning of next week," Biden said.</p></div>
President Joe Biden said Friday that he plans to visit Texas next week as millions of residents there continue struggling with power outages after a major winter storm.Biden also said he will ask the administration of the Federal Emergent Management Agency to accelerate a request for a declaration of a major disaster in Texas, which would free up federal funds to aid in relief efforts there."As I said when I ran, I'm going to be a president for all Americans," said Biden, who was defeated last fall in Texas' presidential election by then-President Donald Trump."I'm, going to sign [that] declaration once that's in front of me" which "God-willing will bring relief to a lot of Texans," the president said.Biden said he had planned on traveling to Texas in the middle of next week, but cautioned that "I don't want to be a burden."He said that "if I can do it without creating a burden for folks, I plan on going.""I'll make that decision beginning of next week," Biden said.
2021-10-30 14:11:37.136859