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☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Amazon, U.S. Steel, Micron, Disney, Citi & more
▼ + stars: | 2024-05-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are the biggest calls on Wall Street on Monday: Morgan Stanley initiates EHang Holdings as overweight Morgan Stanley said it's bullish on shares of the Asia autonomous aerial vehicle company. Morgan Stanley downgrades Victoria's Secret to underweight from equal weight Morgan Stanley said it sees "underappreciated downside" for the lingerie company. Citi downgrades Peloton to neutral from buy Citi said in its downgrade of the stock that it has "limited visibility." Morgan Stanley upgrades U.S. Steel to overweight from equal weight Morgan Stanley said in its upgrade of U.S. Steel that it likes the company's "transformational investments." Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's sticking with its overweight rating on Apple after analyzing the company's quarterly 10-Q report.

Persons: Morgan Stanley, it's, Baird, Morgan Stanley downgrades, Wells, Bausch, Lomb, Apple, Johnson, MLCO, Moffett, Melius, inferencing, JPMorgan Organizations: EHang Holdings, EH, Deutsche Bank, Disney, Deutsche, Micron, Citi, Comerica, CMA, Steel, U.S . Steel, Apple, Services, UBS, JCI, Barclays, Resorts, Nvidia, Broadcom, AMD, Microsoft, JPMorgan, Group, Bank of America, Santander Brasil, of America Locations: Asia, U.S

☆ Biden promise to rival China on shipbuilding faces a big economic problem
▼ + stars: | 2024-04-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

The Biden administration is correct that China has not played fair. But he said the nations that could rival China in shipbuilding are Asian competitors. Shipbuilding subsequently dropped to around five ships per year, which is approximately the current rate of U.S. shipbuilding. President Joe Biden speaks to members of the United Steel Workers Union at the United Steel Workers Headquarters on April 17, 2024 in Pittsburgh, Pennsylvania. Biden announced new actions to protect American steel and shipbuilding industries including hiking tariffs on Chinese steel.

Persons: Biden, Ben Nolan, Nolan, Reagan, Joe Biden, Jeff Swensen, —, Darron, Wadey, Lloyd, Matson, George Washington, Ronald O'Rourke, O'Rourke Organizations: Mitsui Shipbuilding Co, Taicang Port Economic, Technological, Future Publishing, Getty, CNBC, Shipbuilding, Global, United States, Trade, U.S . Trade, U.S, China's Ministry of Commerce, United Steel Workers, Japan's Nippon Steel, United Steel Workers Union, United Steel Workers Headquarters, Analysts, Matson Shipping, Jones Act, Philly Shipyard, CMA CGM, Matson, United, Maritime Administration, U.S ., Huntington Ingalls Industries, News Shipbuilding, U.S . Navy, U.S Navy, Newport News Shipbuilding, Virginian Pilot, Tribune, Service, Force, warfighting, Navy, Biden, Congressional Research Service Locations: Taicang Port, Suzhou, Jiangsu province, China, U.S, Japan, South Korea, United States, Pennsylvania, Pittsburgh , Pennsylvania, American, Bangladesh, U.S . Virgin Islands, Great, Mississippi, Ohio

☆ In 'Tortured Poets' Lyrics, Taylor Swift Finally Criticized Her Own Fans
▼ + stars: | 2024-04-24 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +9 min

Taylor Swift is not known to bite the hand that feeds her. Taylor Swift built her brand as a friendly and relatable pop starA young fan exchanges friendship bracelets with Taylor Swift during The Eras Tour" in Sao Paulo, Brazil. But nearly two decades into her career, the business of Being Taylor Swift has become a billion-dollar industry whose parasocial peanut gallery has grown in size to match. With 'The Tortured Poets Department,' Swift is telling fans they don't actually know herTaylor Swift greeting fans at the 2019 VMAs. John Shearer/Getty Images"The Tortured Poets Department" allows a peek into the inner turmoil of Being Taylor Swift, with all the attention, venom, and possessiveness she attracts.

Persons: Taylor Swift, Swift, Taylor, Little, that's, fame's downsides, Kanye, John Shearer, Matty Healy, Joe Alwyn, Healy, who'd, Swifties, Healy didn't, she's, Swift — Organizations: Recording Academy, Poets Department, Marvel, Department, Spice Locations: Sao Paulo, Brazil

☆ Microsoft, Amazon AI partnerships face scrutiny from British regulators
▼ + stars: | 2024-04-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

A Microsoft logo seen displayed on a smartphone screen and Amazon logo in the background in Athens, Greece on October 5, 2023. British antitrust regulators are seeking views on partnerships between Microsoft and Amazon with smaller generative AI model makers. Microsoft recently made a 15 million euro ($16 million) investment into Mistral, a young French AI firm set up by former employees of Meta and Google's DeepMind AI lab. Amazon, meanwhile, has invested a whopping $4 billion into U.S. AI firm Anthropic, which is behind the Claude large language model and chatbot. An Amazon spokesperson said it was "unprecedented" for the CMA to review a collaboration of the kind that the company had agreed with Anthropic.

Persons: Claude, it's Organizations: Microsoft, Markets Authority, French, Amazon, CMA, Mistral, Meta, Competition, Anthropic Locations: Athens, Greece, French, Anthropic

☆ Google is once again dictating the future of the online ad industry and all its rivals can do is brace for impact
▼ + stars: | 2024-04-24 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +7 min

When Google sneezes, the entire online advertising industry catches a cold. Google's announcement Tuesday that it would again delay its planned timeline for killing off third-party tracking cookies had long been anticipated by the digital advertising industry. Google has a 28% share of the online ad market, according to market research firm Emarketer (a sister company to BI). Regulators could step in to resolve the cookie chaosSome industry experts are hoping regulators will step in to untangle the mess. Amid the four years of confusion, chaos, and harumphing, there has been one consistent theme: When it comes to the future of online advertising, Google calls the shots.

Persons: Ciaran O'Kane, WireCorp, hasn't, Sundar Pichai, Stephen Lam, Mathieu Roche, James Rosewell, Google's, haven't, Pierre Devoize, Devoize Organizations: Google, Business, Gmail, Antitrust, US Department of Justice, European Commission, UK's, Markets Authority, CMA, Industry, IAB Tech, EU Google, Chrome, Movement Locations: FirstPartyCapital

☆ Google's controversial move to kill the web cookie just got delayed until 2025
▼ + stars: | 2024-04-24 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Google delayed the removal of third-party cookies from Chrome again. AdvertisementGoogle is delaying its removal of third-party cookies on Chrome — again. Third-party cookies are small data files stored on a user's device. Related storiesIn January, Google experimented with phasing out cookies for 1% of Chrome users, which is about 30 million people. "We welcome Google's announcement clarifying the timing of third-party cookie deprecation," a CMA spokesperson told BI.

Persons: —, It's, hinging, Stephen Almond, Almond Organizations: Google, CMA, ICO, Service, Apple, Mozilla, Chrome, Markets Authority, Consumers Locations: aaltchek@insider.com

☆ UK regulator refers Vodafone's merger with Three for in-depth competition probe
▼ + stars: | 2024-04-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The U.K. competition regulator on Thursday referred the proposed merger between Vodafone and CK Hutchison's Three mobile network to an in-depth investigation. The CMA has given itself a deadline of Sept. 18 to complete the in-depth probe, also known as a phase 2 investigation. The CMA has previously said the deal could lead to customers facing higher prices and reduced quality, a lessening of competition in the U.K. mobile market. Announced last year, Vodafone and CK Hutchison's transaction would merge the two brands' U.K. businesses, giving Vodafone a 51% controlling stake and leaving CK Hutchison with the minority interest. Vodafone and Three reiterated that "there will be no change to each operator's pricing strategy as a result of the merger."

Persons: Margherita Della Valle, CK Hutchison Organizations: Vodafone, CK, Markets Authority, CMA, Regulators, CK Hutchison Locations: London, British, United Kingdom

☆ THEN AND NOW: The cast of 'Zoey 101' 16 years later
▼ + stars: | 2024-03-29 | by ( Olivia Singh | ) www.businessinsider.com time to read: +2 min

Spears reprised her role as Zoey for a movie sequel, "Zoey 102," released on Paramount+ in July 2023. Dana Hawley/Paramount+Many fans speculated that "Zoey 101" ended due to Spears' pregnancy at 16 years old. After her time on Nickelodeon, Spears switched her focus to singing, much like her older sister Britney Spears. In July 2020, the "Zoey 101" cast reunited for a sketch as part of the Nickelodeon show "All That." The "Zoey 101" film sequel, titled "Zoey 102," was released in summer 2023, and followed Zoey and her friends as they reunited for Quinn and Logan's wedding.

Persons: Spears, Zoey, Jamie Lynn Spears, Zoey Brooks, Dana Hawley, didn't, Casey Aldridge, Maddie Briann, Aldridge, Jamie Watson, Ivey Joan, Britney Spears, Britney, Quinn, Erin Sanders, Quinn Pensky, Sean Flynn, Chase Matthews, Matthew Underwood, Logan Reese, Christopher Massey, Michael Barrett, Abby Wilde, Stacey Dillsen, Jack Salvatore, Mark Del Figgalo, She's, Woods Organizations: Paramount, Nickelodeon, Grand Ole Opry, Radio Disney, Netflix Locations: Louisiana

☆ Baltimore port crisis: World's largest container ship company, MSC, dumps diverted cargo problem on US companies
▼ + stars: | 2024-03-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +2 min

MSC, the largest ocean carrier in the world, has joined the list of ocean carriers terminating the delivery of diverted containers outside of the port for shipping clients as a result of the container ship accident near the Port of Baltimore that led to the tragic bridge collapse. With the Baltimore port indefinitely closed, the decision places the onus of cargo pick up at a diverted port and transport to its final destination on the shipper. MSC added that "passage to and from Baltimore is at this time impossible and will not be reestablished for several weeks if not months." Maersk is the only major carrier to say it will provide transport from diverted ports for customers. Maersk was the charter of the Dali, 10,000-container capacity containership that lost control and crashed into the Francis Scott Key Bridge in the early hours of Tuesday.

Persons: Francis Scott Key Organizations: CNBC, MSC, Port, CMA, Evergreen, Maersk Locations: Port of Baltimore, Baltimore, Dali

☆ 5 Black Country Artists on Beyoncé's 'Cowboy Carter'
▼ + stars: | 2024-03-28 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +16 min

Just one week later, it topped the Hot 100, even though some country radio stations initially refused to play it. Many Black artists creating country music have already seen major boosts in streaming numbers. "There are a lot of Black people who love country music, that have been afraid to say that they love country music, even afraid to make country music." Ice breakers: In the six weeks since Beyoncé dropped the two lead singles from "Cowboy Carter," Shaboozey has felt a palpable uptick in attention surrounding Black country artists. Listen to a roundup of key tracks by Black country artists on Business Insider's Spotify.

Persons: Lil Nas, Beyoncé, Carter, It's, she's, Pablo, Don, gatekeepers, Billboard's Kyle Denis, Cowboy Carter, Tanner Adell, Chase Foster, Tanner, Adell, Josh Turner, Shania Twain, Texas, doesn't, Queen Bey, Buckle, Luke Combs, Daniel Prakopcyk, Shaboozey, Collins Chibueze, Southern, Marty Robbins, Woody Guthrie, I've, Kashus Culpepper, Buffalo Kin, Valerie June, Brittany Howard, Breland, Henry Ammann, Nelly, Tim McGraw, Daniel Gerard Breland, Nashville darlings, Thomas Rhett, Keith Urban, Blanco Brown, Blanco, Brown, Tim McGraw's, he's, He's, Tiera Kennedy, Alexa Campbell, Tiera, Kennedy, Dolly Parton, Johnny Cash, who've Organizations: Chicks, Business, Dallas Cowboys, Buffalo, BI, Nashville, LaFace Records, Buffalo Wild Wings, Spotify Locations: Texas, Houston, Nashville, Kentucky, California, Wyoming, Church, Star Valley , Wyoming, Plano, Beverly, Virginia, America, New Jersey, Atlanta, Butler , Georgia, Alabama

☆ Baltimore port bridge collapse: Global ocean carriers declare 'force majeure,' leaving U.S. companies on hook for urgent cargo pickup
▼ + stars: | 2024-03-27 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +10 min

"The impact of the Baltimore port stoppage on construction and contractor supply chains may be significant," said William George, director of research for ImportGenius. "For cargo already on water, we will omit the port, and will discharge cargo set for Baltimore, in nearby ports. COSCO announced Wednesday morning that its services would "be concluded" once the diverted container arrives at the alternate port. Out of the diverted ports, New York/New Jersey and Savannah, are included. One of the biggest concerns among logistics companies is availability of chassis for both truck and rail to handle the diverted cargo.

Persons: Dali, Francis Scott Key, William George, ImportGenius, Maersk, COSCO, majeure, CGM, Paul Brashier, Brashier, Matt Castle, Robinson, Val Noel, Mike Wilson, Noel, Alan Baer, Baer, Stephen Edwards, Edwards Organizations: Francis Scott Key Bridge, Logistics, CNBC, Baltimore, Evergreen, CMA, ITS Logistics, U.S Department of Transportation, Home Depot, Nike, Walmart, Union Pacific, BNSF, Robinson, DHL, FedEx, Port, DOT's, Rail, TRAC, Freight, Consolidated Chassis Management, USA, Norfolk . Our Midwest Locations: Baltimore , Maryland, Baltimore, The Port, U.S, Port of Baltimore, Target, East, , New York, New Jersey, Savannah, Chicago, Brunswick, Virginia, Charleston, New York, Philadelphia, Norfolk, Wilmington , Savannah, Jacksonville, UAE, Saudi, Doha, India, Bangladesh, NY, Montreal, Port of Virginia, Port

☆ Toby Keith to be posthumously inducted into Country Music Hall of Fame
▼ + stars: | 2024-03-19 | by ( Lisa Respers France | ) edition.cnn.com time to read: +2 min

CNN —Toby Keith will receive a posthumous honor. The late country music star, who died in February at age 62 from complications of stomach cancer, will be inducted into the Country Music Hall of Fame. “Election to the Country Music Hall of Fame is country music’s highest honor, and new members are elected annually by an anonymous panel of industry leaders chosen by the Country Music Association (CMA),” according to a press release about the announcement. The legendary country singer went public with his stomach cancer diagnosis in 2022, which he had been dealing with since October 2021. The new members-elect will be inducted during this year’s Country Music Hall of Fame Medallion Ceremony on October 20.

Persons: Toby Keith, Singer John Anderson, James Burton, Rolling Stone, Sarah Trahern, Keith, Toby, ’ ” Trahern, ” Keith, “ I’ve, ”, “ Organizations: CNN, Country Music Hall of Fame, Country Music Association, CMA, Fame’s, Songwriters Hall of Fame, Nashville Songwriters Hall of Fame, Music Hall of Fame Locations: Las Vegas

☆ Beyoncé's country songs are bringing new listeners to the genre, boosting streams for Black artists
▼ + stars: | 2024-03-16 | by ( Micah Washington | ) www.cnbc.com time to read: +8 min

While some music critics praised Knowles' country tracks, other fans of the genre refrained from a warm welcome. Beyond just radio, Black artists and artists of color represented less than 4% of country songs played on the radio, airplay, charting songs, artists signed to major labels and award nominations, according to SongData. One such fan, Tenley Patterson, 26, said she didn't bother listening to country music before Beyoncé's releases, but was impressed with the country tracks. Rachel Whitney, head of editorial for the Nashville team, said playlists outside of the country genre are playing Knowles' country tracks, broadening its reach. The Beyoncé draw is also boosting exposure for other artists on some lists, like Lainey Wilson and Cody Johnson, who have more "traditional" country songs, Whitney said.

Persons: Beyonce, James Devaney, Cowboy Carter, Beyoncé Knowles, Tanner Adell, Mickey Guyton, Reyna Roberts, Knowles, Alice Randall, Randall, —, Rhiannon Giddens, hasn't, Jocelyn Neal, Maren Morris, Luke Combs, Kacey, Lil Nas, Nas X, Tim Mosenfelder, Neal, Knowles —, Taylor Swift, Beyoncé, George Bush, Tenley Patterson, I've, Patterson, It's, there's, Z, Rachel Whitney, Lainey Wilson, Cody Johnson, Whitney, Kevin Mazur Organizations: Scott, New York, Spotify, The New York Times, Radio, University of North, NBC, Houston, CMA, Republican, Nashville, Crypto.com Arena, The Recording Academy Locations: Brooklyn, New, New York City, U.S, Texas, an Oklahoma, University of North Carolina, San Francisco , California, Iraq, Los Angeles , California

☆ Fatal Houthi rebel attack may be a ‘red line’ in Red Sea shipping crisis
▼ + stars: | 2024-03-07 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

The deadly strike marks a significant escalation of the Houthi attacks on ships in the Red Sea and and comes despite a US-led naval coalition to protect the crucial waterway. Fewer ships appear to be transiting through the Red Sea and adjoining Suez Canal after the latest attack, according to maritime risks analytics company Windward. According to Windward, the number of bulk carriers anchoring outside ports to the north and south of the Suez Canal surged 225% Wednesday compared with the previous day. Windward data shows that last month the number of bulk carriers in the Red Sea was already at its lowest level in two years. Just 30% of the usual shipping capacity — including container ships, bulk carriers, car carriers, and tankers carrying oil and liquefied natural gas — is still passing through the Red Sea and Suez Canal, according to Sand.

Persons: Ami Daniel, ”, Peter Sand, “, Hapag Lloyd —, Christine Lagarde, CMA CGM, Stephen Cotton, Cotton, David Ashmore, Reed Smith, John Stawpert, ” Maisie Linford Organizations: London CNN, Liberian, ” Windward, CNN, Maersk, MSC, European Central Bank, Drewry, CMA, International Transport Workers ’ Federation, International Chamber of Shipping Locations: Red Sea, Iran, Suez, Africa, Windward, Red, Norway, Sand, “, London, Good, Gulf, Aden and Red, Aden

☆ Here are Tuesday's biggest analyst calls: Nvidia, Arm, Tesla, Rivian, Netflix, Micron, Roku, Seagate & more
▼ + stars: | 2024-02-27 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Citi reiterates Snowflake as a top pick Citi said Snowflake remains a top pick at the firm. Citi reiterates Micron as buy Citi said concerns about the stock underperformance is overdone and investors should buy the dip in top pick Micron. "We reiterate our Buy rating on Micron and maintain our price target of $95.00, above its historical average given the DRAM upturn and continued upside." "We are initiating coverage of Duolingo with a Buy rating and $222 price target (12x 2025 revenues)." Citi reiterates Nvidia as a top pick Citi said it's staying long shares of Nvidia.

Persons: Morgan Stanley, Rivian, Snowflake, Berenberg, Eli Lilly, Unilever, Edward Jones, Goldman Sachs, Piper Sandler, Piper, Datadog, Yuka Broderick, Janney, Argus, Wells, VZIO, MGY, Bernstein, it's, Evercore, Davidson Organizations: Citi, US pharma, Staples, Fractyl Health, Investor Relations, Strategic Finance, American Eagle Citi, Watch, Micron, UBS, Netflix, SUN, Kroger, Industry, Deutsche Bank, Deutsche, Seaport, Bank of America, Gas, Semiconductors, Nvidia, AMD, Seagate, Bank of, underperform Bank of America, JPMorgan, Comerica, CMA

☆ An Oklahoma radio station refused to play Beyoncé's new country single until fans fought back. Here's why the country music industry keeps excluding the singer.
▼ + stars: | 2024-02-16 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +5 min

On Tuesday, Oklahoma's country music station KYKC refused to play Beyoncé's new song "TEXAS HOLD 'EM." Here's what to know about Beyoncé's challenges with being recognized by the country music industry. I requested Texas Hold ‘Em at my local country radio station (KYKC) and after requesting, i received an email from the radio station stating “We do not play Beyoncé on KYKC as we are a country music station. Although critics and fans praised Beyoncé's country pivot, the Country Music Association Awards and the Grammy's country music committee did not nominate the song for any awards, which was viewed as a snub. Slate reported in 2016 that Orlando's country radio station K92.3 received backlash from its listeners after playing "Daddy Lessons" on air.

Persons: KYKC, —, Beyoncé, Oklahoma's, @BeyLegion, eQksQemk6m, JUSTIN 🫧, ong, addy, hicks, hite, arius Organizations: Service, TEXAS Locations: Texas

☆ Why Beyoncé’s foray into country makes total sense
▼ + stars: | 2024-02-14 | by ( Rashad Walker | ) edition.cnn.com time to read: +2 min

CNN —In true showstopping fashion, Beyoncé announced the release of new music last weekend at the Super Bowl, and proceeded to drop two buzzy country songs that hint at the vibe of her next album. The songs, “Texas Hold ‘Em” and “Sixteen Carriages,” were released by the singer shortly after the Super Bowl Halftime show on Sunday, and were accompanied with eye-popping visualizer videos on YouTube. Beyoncé followed that with the announcement of her eighth solo studio album, “Renaissance Act II,” and to no one’s surprise, the new project caused an incredible response across social media and beyond. They also know that this isn’t the first time Beyoncé has infused a country sound in her songs. Beyoncé’s album “Renaissance Act II” is set for release on March 29.

Persons: Beyoncé, ’, ”, ” Beyoncé, Sasha Fierce Organizations: CNN, Super, Adidas, Disney, Entertainment, Country Locations: Texas, IVY, Houston , Texas

☆ Tracy Chapman performs ‘Fast Car’ with Luke Combs in heartfelt Grammys moment
▼ + stars: | 2024-02-04 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +2 min

CNN —Tracy Chapman made a highly anticipated appearance during Sunday’s Grammy Awards to perform her 1988 hit song “Fast Car” with country star Luke Combs. Chapman played her acoustic guitar as the pair performed a duet of the iconic song that saw a resurgence in popularity since Combs released a cover in July. Combs earned a Grammy nod for best country solo performance for his version of “Fast Car.”Known for being notoriously private, Chapman has stayed largely out of the spotlight even as “Fast Car” rose in popularity throughout last year thanks to Combs’ cover. Chapman, who is the sole writer of “Fast Car,” also reached No. Combs and Chapman both won CMA awards in November for the song, with Chapman’s individual win coming 35 years after the song’s debut.

Persons: CNN — Tracy Chapman, Luke Combs, Chapman, Combs, ”, Oprah Winfrey, Seth Meyers Organizations: CNN, Billboard’s, CMA

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Meta, Amazon, Disney, Chipotle, Nike, Roblox, Costco & more
▼ + stars: | 2024-02-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

Goldman Sachs reiterates Amazon as buy Goldman said it's sticking with its buy rating after the company's robust earnings report on Thursday. " Bank of America reiterates Apple as buy Bank of America said investors should keep buying shares of Apple after its earnings report on Thursday. "We are downgrading the shares to HOLD and lowering our price target to $7." Bank of America reiterates Roblox as buy Bank of America said it's bullish on the stock heading into earnings next week. " Citi reiterates Disney as buy Citi said it's standing by the stock heading into earnings next week. "

Persons: Morgan Stanley, Meta, Goldman Sachs, Goldman, Evercore, Oppenheimer, Baird, Wells, Roblox, it's bullish, Chipotle, it's Organizations: North America, Bank of America, Apple, Nvidia, Global Payments, Costco, Citi, Sea, Deutsche Bank downgrades New York Community Bancorp, Deutsche, New, Community Bancorp, Comerica, CMA, TFC, Barclays, Nike, Disney, UBS, ~$ $ Locations: North, China, Singapore, KeyCorp, F1Q23

☆ Amazon and Roomba maker call off acquisition deal, iRobot lays off staff instead
▼ + stars: | 2024-01-29 | by ( Jennifer Korn | ) edition.cnn.com time to read: +4 min

CNN —Amazon and iRobot, the maker of the popular Roomba vacuum, mutually called off their estimated $1.7 billion acquisition deal Monday, citing numerous regulatory hurdles. Amazon (AMZN), which was up about 0.5% in noon trading, will pay iRobot a previously agreed-upon $94 million cancellation fee. IRobot said the restructuring plan, impacting around 350 employees, is intended to save the company up to $150 million. In November, the European Commission said the deal could hamper competition in the robot vacuum sector. Earlier this month, the Wall Street Journal reported that the European Commission planned to block the deal.

Persons: iRobot, Colin Angle, Glen Weinstein, IRobot, “, ” Andrew Miller, iRobot’s, ” David Zapolsky, Lina Khan, ”, Meta Organizations: CNN, European, Federal Trade, European Union, European Commission, Wall Street Journal, Amazon, Federal Trade Commission, Commission, Amazon . Tech, Adobe, EU, UK, Nvidia, UK’s Competition, Markets Authority, Activision Blizzard, CMA Locations: Europe

☆ Premarket stocks: Regional banks could be on the rocks again
▼ + stars: | 2024-01-26 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

New York CNN —Stocks of small US lenders are still in the doldrums nearly a year after the regional banking crisis. The KBW Nasdaq Regional Banking index, which tracks the performance of regional lenders and thrifts, has fallen more than 2.4% this year compared to the benchmark S&P 500’s 2.6% gain. “This development is likely to … challenge the health of regional banks,” wrote José Torres, senior economist at Interactive Brokers, in a note on Thursday. Regional bank stocks struggled for much of 2023 after the collapses of Silicon Valley Bank and Signature Bank sparked a flight on deposits and sent shockwaves through the stock and bond markets. High interest rates threatened to put pressure on regional banks’ bond portfolios and squeeze their bottom lines, creating a good old-fashioned bank run.

Persons: Huntington, PNC Financial Service’s, ”, José Torres, Alex McGrath, “, McGrath, Samantha Murphy Kelly, David McQueen, ” Read, Bryan Mena Organizations: CNN Business, Bell, New York CNN, Nasdaq, PNC Financial Services, PNC, Comerica Inc, US Bancorp, Citizens, PNC Financial, Federal Reserve, Interactive Brokers, Valley Bank, Signature Bank, First, Bank, Microsoft, Apple, ABI Research, Gross, Commerce Department Locations: New York, China

☆ UK opens antitrust probe into Vodafone merger with CK Hutchison's Three mobile network
▼ + stars: | 2024-01-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

A pedestrian walks past a Vodafone store in central London on May 16, 2023. British mobile giant Vodafone is to axe 11,000 jobs over three years in the latest cull to hit the tech sector, as new boss Margherita Della Valle slammed recent performance. Britain's competition watchdog on Friday said it is opening an investigation into the proposed merger between Vodafone and the Three UK mobile network owned by CK Hutchison . The initial probe will look at whether the deal will lead to a "substantial lessening of competition," according to the U.K. Competition and Markets Authority (CMA). "The CMA will assess how this tie-up between rival networks could impact competition before deciding next steps."

Persons: Margherita Della Valle, CK Hutchison, Sarah Cardell Organizations: Vodafone, CK, U.K, Competition, Markets Authority, CMA Locations: London, British

☆ Here are Monday's biggest analyst calls: Tesla, Nvidia, Apple, AMD, Home Depot, Western Digital & more
▼ + stars: | 2024-01-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Northland downgrades Advanced Micro Devices to market perform from outperform Northland downgraded the stock mainly on valuation. " Bernstein reiterates Apple as market perform Bernstein said it expects "not great" Apple earnings on February 1. William Blair downgrades Vita Coco to market perform from outperform William Blair said it's concerned about higher costs for the beverage company. Raymond James downgrades Comerica to market perform from outperform Raymond James said the earnings outlook looks too challenging for Comerica. "We are downgrading CMA shares from Outperform to Market Perform and reducing our 2024 EPS estimate to reflect its initial 2024 outlook."

Persons: Bernstein, Hunt, KeyBanc, Key, it's, Morgan Stanley, Oppenheimer, Lowe's, Goldman Sachs downgrades Archer, Daniels, Goldman, Vikram Luthar, William Blair downgrades Vita Coco, William Blair, Wolfe, NiSource, Tesla, Goldman Sachs, Stone, Evercore, Raymond James downgrades, Raymond James Organizations: Bernstein, Pacific, Norfolk, Union Pacific, NSC, UBS, Devices, Northland, AMD, Western, Home Depot, Apple, HSBC downgrades Lululemon, Daniels Midland, ADM, TAM, Airlines, Barclays, Netflix, JPMorgan, Xerox JPMorgan, Raymond James downgrades Comerica, Comerica, CMA Locations: Norfolk Southern, Northland, Brazil

☆ War and climate change are the main obstacles to aggressive Fed rate cuts in 2024, strategists say
▼ + stars: | 2024-01-14 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

War and climate change are the main risks that could threaten aggressive Fed rate cuts, Macquarie said. That's because conflicts in the Middle East and a parched Panama Canal risk creating supply shocks that stoke inflation. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. "War and climate change are becoming the main risk to the view that the Fed cuts aggressively," analysts led by Thierry Wizman wrote in a note on Friday. Such turmoil can end up pinching consumers because the Red Sea is a major shipping artery — the Suez Canal, which connects the Red Sea to the Mediterranean Sea, carries about 12% of global trade.

Persons: Macquarie, Thierry Wizman, Wizman Organizations: Service, Federal Reserve, Fed, Drewry, . Shipping, Maersk, CMA CGA, UK, International Monetary Fund Locations: Panama, Red, Africa, Yemen, Suez

☆ Tesla to pause German production over Red Sea disruption
▼ + stars: | 2024-01-12 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Tesla plans to pause most production at its only European factory due to supply chain problems caused by attacks in the Red Sea. In recent weeks, Houthi militants, based in Yemen, have ramped up attacks on vessels traveling through the Red Sea, saying they are revenge for Israel’s war against Hamas in Gaza. As a result, six of the world’s 10 biggest shipping companies — namely Maersk, MSC, Hapag-Lloyd, CMA CGM, ZIM and ONE — have been largely or completely avoiding the Red Sea. Volkswagen, Germany’s biggest carmaker, said Friday that its passenger car division did not anticipate “significant” restrictions to production over the situation in the Red Sea, according to Reuters. Economic reverberationsTesla’s decision will amplify fears that a prolonged closure of the Red Sea route — which connects with the vital Suez Canal — will hurt the global economy by snarling supply chains and driving up the prices of goods.

Persons: London CNN — Tesla, Tesla, Joe Biden, Brent, “, ”, Robert Yawger, Matt Egan Organizations: London CNN, CNN, RTL, Maersk, MSC, Lloyd, CMA CGM, Carriers, European Automobile Manufacturers ’ Association, Volvo, Reuters, Volkswagen, Economic, Ikea, Crocs, Container, British, West Texas, Mizuho Securities Locations: Red, Berlin, Europe, Yemen, Gaza, South Africa, Belgium, Suez, British, Drewry, Iran

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