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☆ Stocks making the biggest moves midday: Tesla, Roku, Apple, SoFi, Domino's and more
▼ + stars: | 2024-04-29 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

SoFi Technologies — The consumer fintech company's stock price plunged about 10% on disappointing second-quarter earnings guidance. AT & T — The telecommunications stock popped 2.8% after Barclays upgraded AT & T to overweight from equal weight, citing a "mismatch" between the company's valuation and its growth prospects. Apple — Shares rose more than 3% after Bernstein upgraded the tech stock to outperform from market perform. Dave — Shares popped 9.8% after JMP initiated coverage of the fintech company with an outperform rating. Shares popped 9.8% after JMP initiated coverage of the fintech company with an outperform rating.

Persons: FactSet, Tesla, Domino's, LSEG, Roku, David Joyce, Bernstein, Toni Sacconaghi, Dave —, Dave, AMC preannounced, Bob Bakish, —, Sarah Min, Tanaya Macheel, Yun Li, Lisa Kailai Han, Michelle Fox Organizations: Technologies, Elon, Sunday, U.S, Philips —, Philips, Barclays, Seaport Research Partners, Apple, Airlines —, Jeffries, AMC Entertainment Holdings, AMC, Paramount Locations: China, U.S

☆ The rally is over for Nasdaq stocks such as Netflix and AMD, according to Wall Street analysts
▼ + stars: | 2024-03-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

It may be downhill from here for some high-flying stocks in the Nasdaq. But for some stocks in the Nasdaq, their ascent may soon come to an end. One name on the list was streaming platform service Netflix , which is up 96% in the past year. The stock has rallied roughly 150% this past year, but could potentially fall 7%, according to average analyst estimates. Big-box retailer Costco also made the list, with analysts' price targets suggesting shares could slide 5%.

Persons: David Joyce, Raymond James, Gus Richard, —, John Melloy Organizations: Nasdaq, Federal Reserve, CNBC, Stock, Netflix, Seaport Research Partners, Devices, Northland Capital Markets, Costco Locations: Northland

☆ Republican US House Speaker Johnson nears choice on avoiding gov't shutdown
▼ + stars: | 2023-11-08 | by ( David Morgan | ) www.reuters.com time to read: +3 min

[1/2] Newly elected Speaker of the House Mike Johnson (R-LA) addresses the U.S. House of Representatives after he was elected to be the new Speaker at the U.S. Capitol in Washington, U.S., October 25, 2023. Despite signs of some bipartisan talks between the chambers, Johnson has been focused on finding a solution that his 221-212 House Republican majority can accept. The choice will test Johnson's effectiveness as the top Republican in Congress, just two weeks after he was chosen following nearly a month of Republican infighting. Johnson, 51, a relative novice in leadership politics with few political enemies, continues to enjoy goodwill within the fractious House Republican caucus. "The four corners are talking," said Schumer, using a term that refers to Johnson, Senate Republican leader Mitch McConnell, House Democratic leader Hakeem Jeffries and himself.

Persons: Mike Johnson, Elizabeth Frantz, Johnson, David Joyce, Andy Harris, you've, Mike Simpson, Kevin McCarthy, Harris, Chuck Schumer, Schumer, Mitch McConnell, Hakeem Jeffries, David Morgan, Scott Malone, David Gregorio Our Organizations: U.S . House, U.S, Capitol, REUTERS, Rights, Republican, Democratic, Senate, Committee, Republicans, Louisiana Republican, House Democratic, New York Democrat, Thomson Locations: Washington , U.S, Louisiana

U.S. Rep. Jim Jordan (R-OH) (R) talks to Speaker Pro Tempore Rep. Patrick McHenry (R-NC) as the House of Representatives prepares to hold a vote on a new Speaker of the House at the U.S. Capitol on October 18, 2023 in Washington, DC. Rep. Jim Jordan of Ohio will back a plan to empower interim House Speaker Patrick McHenry until January, sources told NBC News and CNBC Thursday. The plan to temporarily empower McHenry to oversee the passage of legislation would act as a bridge until the deeply divided Republican conference can coalesce around a permanent replacement. Rep. David Joyce of Ohio said earlier this week that he plans to introduce a resolution to empower McHenry so the House can move forward with urgent business. But another source cautioned that the plan to temporarily empower McHenry may not have enough votes in the House.

Persons: Jim Jordan, Patrick McHenry, McHenry, Joe Biden, David Joyce, Ohio, Jordan, Kevin McCarthy of California, Steve Scalise, McCarthy Organizations: Rep, Pro Tempore, U.S, Capitol, Washington , DC, NBC News, CNBC, Democratic, NBC, House Republicans, GOP, Republican Locations: Washington ,, Ohio, Israel, Louisiana

“We are in uncharted waters, but it’s also very clear that we do not want to have a speaker pro tem who is leading policy. “That's the goal,” McHenry said earlier Thursday when asked if he would put a vote for speaker on the House floor. House Republicans are gridlocked with no end in sight, a war is escalating in Israel and Palestine and the U.S. government is ticking closer to a shutdown. McHenry was named to the role of speaker pro tempore by McCarthy as part of a process established in the aftermath of the Sept. 11, 2001, terrorist attacks. It's an argument that may catch on in the House as lawmakers grow restless with their inability to act.

Persons: Patrick McHenry, gavel, Kevin McCarthy, McHenry, it’s, That’s, ”, Zach Nunn, Steve Scalise, Marc Molinaro, “, ” McHenry, McCarthy, Israel —, Michael McCaul, shouldn't, David Joyce, Joyce, Jim McGovern, Josh Chafetz, Scalise, Jen Kiggans, Kevin Freking, Farnoush Amiri, Lisa Mascaro Organizations: WASHINGTON, North Carolina Republican, Republicans, U.S, Republican, House Foreign Relations, Israel, GOP, Ohio Republican, Capitol, Georgetown Law School, Virginia Republican, Associated Press Locations: McHenry, Iowa, Israel, Palestine, Virginia

☆ Republican feud over 'root canal' spending cuts raises US government shutdown risk
▼ + stars: | 2023-08-21 | by ( David Morgan | ) www.reuters.com time to read: +7 min

The result is a major headache for centrist Republicans from swing districts that Biden won in 2020 and others with constituents in the firing line of hardline spending targets. One significant source of frustration is hardline demands for cuts to bills that have already been vetted by the 61-member House Appropriations Committee. SHUTDOWN RISKHouse Freedom Caucus members say a shutdown could be necessary to achieve their objectives. This time, the slim 222-212 House Republican majority could pay a political price. Would the House Freedom Caucus end McCarthy's reign over a CR?

Persons: Scott Perry, Andy Biggs, Jonathan Ernst, Joe Biden, Kevin McCarthy, Goldman Sachs, Centrists, McCarthy, Biden, Don Bacon, Ben Cline, We're, willy, nilly, David Joyce, William Hoagland, Donald Trump's, Dusty Johnson, Chuck Schumer, McCarthy's, Perry, Kevin, David Morgan, Scott Malone, Daniel Wallis, Cynthia Osterman Organizations: U.S, Capitol, REUTERS, Rights, Republicans, U.S . House, Caucus, Monday, White, Republican, Social Security, Freedom Caucus, Committee, Republican Governance Group, Center, Senate, Justice Department, Ukraine, Main Street Caucus, Reuters, Office, Thomson Locations: Washington , U.S, U.S, Nebraska, Washington

☆ Republican feud over 'root canal' spending cuts raises US gov't shutdown risk
▼ + stars: | 2023-08-21 | by ( David Morgan | ) www.reuters.com time to read: +6 min

The result is a major headache for centrist Republicans from swing districts that Biden won in 2020 and others with constituents in the firing line of hardline spending targets. "I do not know how they get themselves out of this jam," said William Hoagland, a former Senate Republican budget director now at the Bipartisan Policy Center think tank. SHUTDOWN RISKHouse Freedom Caucus members say a shutdown could be necessary to achieve their objectives. This time, the slim 222-212 House Republican majority could pay a political price. Would the House Freedom Caucus end McCarthy's reign over a CR?

Persons: Scott Perry, Andy Biggs, Jonathan Ernst, Joe Biden, Kevin McCarthy, McCarthy, Biden, Don Bacon, Ben Cline, We're, willy, nilly, David Joyce, William Hoagland, Donald Trump's, Dusty Johnson, Chuck Schumer, McCarthy's, Perry, Kevin, David Morgan, Scott Malone, Daniel Wallis Organizations: U.S, Capitol, REUTERS, Rights, Republicans, U.S . House, Caucus, White, Republican, Social Security, Freedom Caucus, Committee, Republican Governance Group, Center, Senate, Main Street Caucus, Reuters, Office, Thomson Locations: Washington , U.S, U.S, Nebraska, Washington

☆ Sirius XM shares pull back after 'wild' gains with short squeeze in focus
▼ + stars: | 2023-07-21 | by ( Sinéad Carew | ) www.reuters.com time to read: +3 min

July 21 (Reuters) - Shares in Sirius XM Holdings (SIRI.O) were down 10.5% on Friday, erasing some of their dramatic gains in the previous day's session with analysts attributing the volatility to a short squeeze, as well as a rebalance of the Nasdaq 100 (.NDX). U.S. satellite and online radio company, Sirius XM, which is majority owned by Liberty Media (FWONA.O), last traded at $6.99 after closing up 42% at $7.81 on Thursday for its biggest one-day percentage gain since March 2009. A short squeeze is when these investors are forced to quickly cover their bets to limit losses if a stock gains ground instead of falling. "However, the large number of shares held short along with a relatively small float provided fertile ground for a short squeeze as seen on July 20," wrote Macker who estimates a $7.50 fair value for the stock. Evercore analyst Vijay Jayant said the upcoming rebalance of the Nasdaq 100, of which Sirius is a member, was also a factor for the short squeeze as well as related options trading.

Persons: Neil Macker, Macker, Vijay Jayant, Jayant, David Joyce, Joyce, Sinéad Carew, Medha Singh, Lance Tupper, Sharon Singleton Organizations: Sirius XM Holdings, Nasdaq, Sirius XM, Liberty Media, Atlanta Braves, Sirius, Liberty's, Research Partners, Thomson

The hardliners, including members of the House Freedom Caucus, also called on McCarthy to delay appropriations votes in the House of Representatives until all 12 government funding bills have been finalized and can be subjected to a side-by-side review. "Absent adhering to the $1.471 trillion spending level ... we see an impossible path to reach 218 Republican votes on appropriations or other measures," the letter said. House Republicans last month voted on a lower target of $1.47 trillion, which would cut spending for the environment, public assistance and foreign aid. House Republicans are also trying to use the legislation to rescind key Biden priorities in areas such as climate change and tax collection. DeLauro, the senior Democrat on the House Appropriations Committee, noted that House Republicans "know and have said publicly, that in the end they are going to need Democratic votes to keep the government open."

Persons: Kevin McCarthy, McCarthy, Joe Biden, Scott Perry, Chip Roy, McCarthy's, Biden, Patty Murray, Susan Collins, Rosa DeLauro, DeLauro, David Joyce, Joyce, David Morgan, Richard Cowan, Scott Malone, Jonathan Oatis, Leslie Adler Organizations: . House, Democratic, Caucus, Republican, Senate, House Republicans, White House, Republicans, Republican Governance Group, Reuters, Thomson Locations: United States

"July is going to have a lot of late-night votes and a lot of really big issues being tackled," House Majority Leader Steve Scalise, the chamber's No. House Republicans are aiming to craft a series of 12 detailed spending bills covering every aspect of government funding, an intricate feat Congress has not pulled off on time since fiscal 1997. House Republicans last month voted on a lower target of $1.47 trillion, which would cut spending for the environment, public assistance and foreign aid. "House Republicans really are committed to shrinking spending. House Republicans are also trying to use the legislation to rescind key Biden priorities in areas such as climate change and tax collection.

Persons: Kevin McCarthy, Joe Biden, Steve Scalise, Patty Murray, Susan Collins, Biden, McCarthy, Dusty Johnson, Rosa DeLauro, David Joyce, Joyce, David Morgan, Richard Cowan, Scott Malone, Jonathan Oatis Organizations: Republican, House, Democratic, Senate, Republicans, House Republicans, White House, Main Street Caucus, Reuters, Committee, Caucus, Republican Governance Group, Thomson Locations: United States

☆ House ethics panel opens investigation of Rep. George Santos on range of issues
▼ + stars: | 2023-03-02 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

U.S. Rep. George Santos (R-NY) sits in the House Chamber prior to U.S. President Joe Biden delivering his State of the Union address at the U.S. Capitol in Washington, U.S., February 7, 2023. The House ethics committee said Thursday that it has appointed a subcommittee to investigate embattled Rep. George Santos, R-N.Y., for a range of potential ethical violations. In a tweet from his official Twitter account, Santos wrote, "The House Committee on Ethics has opened an investigation, and Congressman George Santos is fully cooperating. Rep. David Joyce, an Ohio Republican, was tapped to serve as chair of the investigative subcommittee by the House Committee on Ethics, which unanimously approved the panel's creation on Tuesday, the news release said. In a statement to CNBC, Myers said, " The misconduct by the Congresman is a series of unfortunate events."

“I’ll get 218,” McCarthy told CNN, referring to the votes he’d need to become House speaker. Video Ad Feedback Bash asks Pelosi if McCarthy has what it takes to be House Speaker. “I’m not going to talk about hypotheticals,” said Biggs, who lost his conference’s nomination to become speaker last month after securing 31 votes. But McCarthy’s detractors said it’s an issue very much still on the table and think he may end up needing to embrace it if he still doesn’t have the speaker votes by January 3. But he refused to rule out a scenario where his caucus would help elect the next speaker if McCarthy couldn’t get the votes.

☆ The Urgency of Republicans’ Leaving Trump Behind
▼ + stars: | 2022-12-07 | by ( William A. Galston | ) www.wsj.com time to read: 1 min

I’ve never met Rep. David Joyce , a moderate Republican from Ohio, but he seems to be an honest and honorable man. In a recent interview, he talked frankly about the midterm elections. “We lost,” he said. He views this group as a counterweight to some of the more extreme elements of the Republican caucus, such as Colorado Rep. Lauren Boebert . Moderate Democrats see him as someone with whom they can do business.

Trump’s post came after Twitter CEO Elon Musk promoted a series of tweets Friday revealing internal documents about how the company handled a New York Post article about Hunter Biden in 2020. While he said he “vehemently disagrees” with the former president’s statement, Turner did not directly answer the question, even after host Margaret Brennan pressed repeatedly. Rep. Adam Kinzinger, R-Ill., a vocal opponent of Trump who serves on the House Jan. 6 committee, called Trump's statement “insane." Meanwhile, Democrats swiftly rebuked Trump’s statement shortly after it was posted. Senate Majority Leader Chuck Schumer, D-N.Y., said he “vociferously” condemns Trump’s remarks and urged his colleagues on both sides of the aisle to do the same.

☆ McCarthy says ultra-conservative GOP holdouts are 'squandering this majority' by opposing his bid for House Speaker
▼ + stars: | 2022-12-04 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

California Rep. Kevin McCarthy is the Republican nominee for the next Speaker of the House. In order to win the seat, he needs almost all 222 GOP House members to vote for him on Jan. 3. McCarthy faces holdouts in his party, who he says would "squander" a GOP majority by opposing him. McCarthy, in an interview with Fox News' "Sunday Morning Futures," said those GOP holdouts, by opposing his bid, would be "squandering" the Republican majority set to take control of the House of Representatives in the next congressional session. The 118th Congress, which convenes on January 3, 2023, will have 222 Republican members, compared to 212 Democrats.

In the next Congress, white men will also lead the House GOP campaign arm, the National Congressional Campaign Committee (NRCC), and occupy other lower-tier leadership spots. The highest leadership post that Republican women or minorities have reached is chair of the GOP Conference — the No. She's expected to remain the highest-ranking GOP woman in the whole of the next Congress as well, given that white men make up all but one member of the Senate GOP leadership team. Eighty GOP women are running for House seats in these midterms. For his part, Donalds, whom Trump once called a “rising star,” has not made diversity a central part of his campaign for conference chair.

The House of Representatives on Friday voted for the second time on a bill to decriminalize cannabis. US lawmakers just voted for the second time to federally decriminalize cannabis. Among the Republicans who voted for the bill were Florida Rep. Matt Gaetz, California Rep. Tom McClintock, and Florida Rep. Brian Mast. Two Democrats voted against the bill: Rep. Chris Pappas of New Hampshire, and Rep. Henry Cuellar of Texas. It was updated on April 1, 2022 when the House of Representatives voted to pass the MORE Act a second time.

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