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Read previewA former Fidelity financial advisor has accused the brokerage of unlawfully firing him after filing a whistleblower complaint. Fidelity ranked branch managers by the number of client assets in more expensive investments such as stock-managed accounts, Maeker said. Financial advisors who did not score highly were awarded little to no stock or threatened to be fired, Meaker said. This race to zero has led to more pressure on high-fee products, as Maeker's branch manager told him. In turn, financial advisors were pushed to sell more Tier 3 investments by awarding 10 times the amount of compensation for Tier 3 investments versus Tier 1.
Persons: , Michael Maeker, Maeker, Meaker, FINRA Organizations: Service, Fidelity, Department of Labor, Business, Financial Industry Regulatory Authority, Treasury, Northern, Northern District of, Securities and Exchange Commission, SEC, Reuters Locations: Dallas, Northern District, Northern District of Texas
There are signs that the U.S. consumer is still spending, especially on experiences. But stubbornly high prices are squeezing consumers with lower incomes, pressuring everyday purchases and corporate profits. Broadly speaking, credit card companies like American Express, Visa and MasterCard have described spending trends as "relatively strong," "relatively stable," and even "healthy." Priceline parent Booking Holdings told analysts there are no signs consumers are taking shorter vacations or trading down in their hotel choices. McDonald's added that "the consumer is certainly being very discriminating in how they spend their dollar."
Persons: Brandon Bell, Morgan Stanley's Michael Wilson, Morgan Stanley, Mike Stocker, Stanley Black, Decker, , Anton Pinsky, Beata Zawrzel, Laxman Narasimhan, Shack, Domino's, Pavlo Gonchar Organizations: Getty, Home Depot, Walmart, American Express, Visa, MasterCard, PayPal, Booking Holdings, Las, Port, Tribune, Service, Consumers, Whirlpool, Corp, Starbucks Corp, Nurphoto, Lightrocket Locations: Austin , Texas, U.S, Las Vegas, Port of Miami, Krakow, Poland, Russia, Ukraine
In March 2023, Iran and Saudi Arabia brokered a deal to re-establish diplomatic relations. Related storiesThe US and Saudi Arabia are in the final steps of a new agreement on security guarantees and civilian nuclear assistance, Reuters reported last week. Many of Neom's projects aimed at capturing the luxury tourism market are located along the Red Sea coast. Set to open next year, Neom's luxury island resort of Sindalah is advertised as an "exclusive gateway to the stunning Red Sea." Saudi officials are already fighting to combat claims that Neom is facing delays and setbacks.
Persons: , it's, Israel, Kristian Coates Ulrichsen, Ulrichsen, Robert Mogielnicki, Mogielnicki, Neom Organizations: Saudi, Service, Neom, New York Times, Reuters, Rice, Baker Institute for Public Policy, Gulf States Institute, Bloomberg, Business Locations: Saudi, Dubai, Israel, Gaza, Iran, Saudi Arabia, China, Palestinian, Israeli, Red, Jeddah
AdvertisementEven though LA is much larger than San Francisco, LA doesn't feel urban, while San Francisco does. Here's what I felt were the five worst things about leaving the San Francisco Bay Area and moving to LA. AdvertisementAs an artist and business owner, I founded my eco-friendly textile and wallpaper collection business in San Francisco in 2013. I miss San Francisco's culture and philanthropic spiritLiving in San Francisco, I found that many of its businesses have a good environmental or social mission. But I believe, for the most part, San Francisco still has the same caring heart and soul it's had for years.
Persons: , Stevie Howell, It's, I've, Francisco —, Jessica Silverman, Rebecca Camacho, would've, it's, Crissy, I, Manseen Logan Organizations: Service, Business, San, San Francisco Bay Area, Minnesota, National Parks Conservancy, Area Locations: Los Angeles, San Francisco, LA, It's, San Francisco , LA, San Francisco Bay, Mandalay, Francisco, Bernal Heights Hill, Dolores Park, Ocean, Stinson Beach, Angel, mlogan@businessinsider.com
Final Trades: Netflix, Home Depot and IYM
  + stars: | 2024-05-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: Netflix, Home Depot and IYMThe Investment Committee gives you their top stocks to watch for the second half.
Organizations: Netflix, Investment
Stanley Black & Decker Why we own it: Stanley Black & Decker is in the later innings of a multi-year restructuring plan. The one problem is the broader demand environment is still mostly soft, preventing management from raising the midpoint of its outlook. This dynamic makes Stanley Black & Decker one of the more interest-rate-sensitive stocks we have in the portfolio. Stanley Black & Decker has been paying a dividend for 147 consecutive years, with increases in each of the past 56. Stanley Black & Decker power drills are displayed for sale at a Home Depot store in Colma, California.
Persons: Stanley Black, Decker, we're, there's, Stanley, Patrick Hallinan, Hallinan, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Revenue, LSEG, Bosch, Techtronic Industries, Management, Industrial, CNBC, Bloomberg, Getty Locations: Colma , California
Federal Reserve Chairman Jerome Powell met with the press after the March Federal Open Market Committee (FOMC) meeting, which was pretty fraught. Data centers If there is the whiff of a data center or anything in one, the stock goes higher. It's why Meta stock is a buy a tad lower as stocks tend to revisit those kinds of declines. I worry about Club stock Stanley Black & Decker for this reason, but the dividend will keep it propped up for now. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: what's, Jerome Powell, Powell, Powell isn't, Voltaire, Vertiv, Eaton, Meta, It's, jetsam, Darius Adamczyk, Vimal, Stanley Black, Decker, Azek, Morgan Stanley, Wells, Charlie Scharf, Wells Fargo, Chipotle, that's, Johnson, Jensen Huang, Jim Cramer's, Jim Cramer, Jim, Scott Mlyn Organizations: Federal, Market, Broadcom, Google, Microsoft, Nvidia, Travel American Express, Raytheon, GE Aerospace, Royal, AAR, Honeywell, Southwest Airlines, Housing, Stanley, JPMorgan, Procter, Gamble, Colgate, Merck, Bristol, Myers, PepsiCo, Energy, Coterra Energy, Diamondback, drillers, CNBC Locations: California, Royal Caribbean, Delta, Devon
She's part of the "peak boomer" cohort, most of whom will rely on Social Security in retirement. I was somebody who did really well, and it's very disheartening because I have no idea what's going to happen with retirement," Senffner told BI. "My husband and I are both a year and a half from retirement age, but I think I'll probably need to work until I die because there's no money." Just Social Security isn't going to cover that." And with the Social Security fund set to dry out by the late 2030s — unless lawmakers intervene — Senffner is "incredibly scared" about her future.
Persons: Diane Senffner, She's, , doesn't, Senffner, she'll, Diane Senffner Senffner, hasn't, it's Organizations: Social Security, Service, Business, Alliance, Lifetime, Income, Security, Survey, Walmart, AARP
The strikes are doing serious damage to Russia's oil and gas sector. Bloomberg reported that Russia's oil refining is at an 11 month low. AdvertisementBloomberg earlier this week reported that Russia's oil refining is at an 11-month low because of flooding and Ukraine's drone campaign. Ukraine's attacks on Russian oil depots are one of the few bright spots in its war in recent months. "Future Ukrainian drone strikes may disable and disrupt more of Russia's refining capacity and inflict critical constraints on Russian refining that begin to substantially impact Russia's production of distillate products," the analysts said.
Persons: , Joe Biden's Organizations: Bloomberg, Service, AFP, Metallurgical, The Locations: Ukraine, Russia, Russia's Smolensk, Lipetsk, Russia's, Ukraine's, US
Rubrik, a data-management software company backed by Microsoft , priced its IPO at $32 a share, according to a person familiar with the matter. Rubrik raised $752 million through the initial public offering, valuing the company at $5.6 billion. Rubrik now gets 91% of its revenue from subscriptions, up from 59% two years ago. Revenue increased less than 5% in the fiscal year that ended on Jan. 31, but annual recurring revenue from subscriptions jumped 47%. "Our key top-line metric is subscription ARR," Rubrik finance chief Kiran Choudary said in a videotaped presentation for the company's IPO roadshow.
Persons: Rubrik, Reddit, Kiran Choudary, Bipul Sinha, Sinha Organizations: Microsoft, New York Stock, Nasdaq, Astera Labs, Barclays, Carhartt, Venture Locations: U.S, Rubrik
Less obviously visible but equally impressive are the historical treasures, some more than 12,000 years old, that can be found underground. Unlike the Basilica, this underground chamber was completely forgotten about until less than 15 years ago. Other than locals herding their livestock through the ruins of a garrison city dating to the 6th century, few people went there. Now, the site has given up numerous treasures including rock-cut tombs, an olive processing workshop and a series of underground cisterns. Yeraltı, literally meaning underground, was originally a dungeon in the basement of a fort built by the Byzantines in the 8th century CE.
Persons: James Bond, Theodosius II, Theodosius, Derinkuyu, tufa, émigrés, Han, Rümeli Han, Sarıcazade Ragıp Pasha, Sultan Abdülhamid II’s, Sancaklar, Göbeklitepe, Yeraltı, , Fatih Sultan Mehmet, Grand Vizier Bahir Mustafa Paşa, dervish Organizations: CNN, Love, UNESCO, Şanlıurfa Archaeology Locations: Turkey, Europe, Asia, Russia, Faith, Istanbul, Constantinople, Fatih, Belgrade Forest, Valens, Dara, Mardin, Nevşehir, Cappadocia, Derinkuyu, Taksim, stairwells, Sancaklar, Büyükçekmece, Mecca, Göbeklitepe, everyone’s, Şanlıurfa, Karaköy, Yeraltı, Ottoman, Grand
Wages for retail workers have been going up in recent years . SEC rules require publicly traded companies to disclose their workers' median annual pay. Here's the median wage for workers at 19 retail companies, from lowest to highest. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Ever since Amazon set its minimum wage at $15 in 2018, more retailers have followed suit by offering starting wages that are more than double the national minimum of $7.25.
Persons: Organizations: SEC, Service, Walmart, Target, , Business Locations: Lowe's
CNN —Ukraine launched attacks on eight Russian regions with long-range strike drones in the early hours of Saturday morning, targeting a fuel depot and power substations, according to a statement from a Ukrainian special services source. “Russian Defense Ministry is complaining that dozens of Ukrainian drones popped up in some eight regions - Belgorod, Bryansk, Kursk, Tula, Smolensk, Ryazan, Kaluga regions, and even Moscow region. The source added that the “energy infrastructure that feeds the Russian military-industrial facilities was the target. The Russian Defense Ministry reported intercepting one drone over the Smolensk region, and said that its air defense systems intercepted or destroyed 50 Ukrainian drones in the past day. Video obtained by ReutersIn recent months, Ukraine has stepped up drone attacks deep inside Russian territory, targeting energy infrastructure like oil refineries and terminals, as well as airfields.
Persons: , Vasiliy Anokhin, Anokhin, Aleksandr Bogomaz, ” Bogomaz, Oleksandr Syrskyi Organizations: CNN —, Russian Defense Ministry, Russian Defense, Security Service of Ukraine, Defence Intelligence, Special Operations Forces of, Armed Forces of, , Russia’s Ministry, Reuters, CNN, Ukrainian, of Locations: CNN — Ukraine, Moscow, Belgorod, Bryansk, Kursk, Tula, Smolensk, Ryazan, Kaluga, Armed Forces of Ukraine, Russia’s Smolensk, Ukrainian, Kardymovsky district, Russia, Ukraine, Ryazan Region
CNBC Pro combed through Bank of America research to find the firm's favorite buy-rated stocks ahead of company earnings. They include: CoStar Group, Fidelity National Information Services, Cisco, Home Depot and Adobe. Bank of America upgraded the stock to buy from neutral earlier this week, citing several positive catalysts. "A growth company buying a growth company," he said of the deal. Home Depot "A growth company buying a growth company.
Persons: Tal Liani, Liani, Robert Ohmes, Ohmes, Jason Kupferberg, Kupferberg Organizations: Bank of America, CNBC, Fidelity National Information Services, Cisco, Home, Adobe, Cisco Time, Home Depot, Fidelity National Information, FIS Locations: Bank, Atlanta, buybacks
Federal prosecutors in Oregon have brought charges against seven defendants conspiracy to defraud Home Depot. The complaint says the group rented equipment from the retailer using stolen credit card numbers. Instead of returning the items, prosecutors say the crew sold it on Facebook and other marketplaces. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHome Depot's rental department continues to battle the theft of its heavy equipment in schemes where suspects sell the machinery on sites like Facebook Marketplace, prosecutors allege.
Persons: Organizations: Facebook, Service Locations: Oregon
New York City CNN —Donald Trump is trying to turn the tables on Alvin Bragg. He goes after guys like Trump who did nothing wrong,” Trump said. “There are hundreds of murderers all over the city, they know who they are and they don’t pick them up. Trump is currently on trial in New York four days a week, severely limiting his ability to campaign or fundraise outside of the state. On Tuesday, Trump used the appearance at the bodega to attack Bragg.
Persons: York City CNN — Donald Trump, Alvin Bragg, Jose Alba, Bragg, Eric Adams –, Trump, Adams, , ” Trump, bodegas, Francisco Marte, , , Alvin, Trump’s, ” Marte, Marte, Joe Biden, “ We’re, “ Alvin Bragg, bodega, Alba, Austin Simon, Simon, Mr, Alice Fontier, ” Adams, ” “, ” Alba, Black, ” Bragg Organizations: York, York City CNN, Harlem bodega, bodega, The, Bodega, Small Business Association, Throngs, Broadway, Trump, Bragg, CNN, NYPD, , Democratic, Biden, Yorker, ” Prosecutors, Republicans, City Locations: York City, Manhattan, Lower Manhattan, New York, York, Trump, Alba, bodega, “ New York, ” New York, New York City, , City of New York, Albany
George Stumpp, a retired bartender, lives comfortably in Panama after moving from New Mexico. He said Panama has robust infrastructure, a lower cost of living, and many of the same stores as the US. AdvertisementGeorge Stumpp, 65, worked as a bartender and bar supervisor in Long Island and New Mexico for decades. He's enjoying retirement in a country with a lower cost of living and high-quality healthcare, and he said he's enjoyed adapting to Panamanian culture. As his kids got older, he started to vacation in Central America, traveling to Costa Rica, Belize, and Panama.
Persons: George Stumpp, , he's, we've, Stumpp, it's, Long, there's Organizations: Service, Panama City, Central, Business, Hamptons, Sante Locations: Panama, New Mexico, Long Island, Panamanian, Colombia, Thailand, St, Maarten, Long, Sante Fe, Santa Fe, Central America, Costa Rica, Belize, Ontario, Canada
For fiscal year 2023, credit card revenue totaled $619 million for Macy's and approximately $475 million for Nordstrom . The three companies do not break out how much of total credit card revenue comes from late fees. All of that adds up to dwindling credit card revenue for retailers, who can now expect to see it shrink even further. Target's credit card revenue fell to $667 million last year, down from $734 million in the prior fiscal year. Gap does not disclose credit card revenue, but its Chief Financial Officer, Katrina O'Connell, said on an earnings call that losses from late fees will be "largely offset in 2024 by other levers within our credit card program."
Persons: Robert Nickelsberg, it'll, Jane Hali, Kohl's, David Silverman, Silverman, , Michael Fiddelke, Macy's, Adrian Mitchell, It's, Nordstrom, Katrina O'Connell Organizations: Getty Images Department, Consumer Financial, Bureau, Associates, Nordstrom, Fitch, TD Bank, Shoppers, Adobe Analytics, Citi, Sam's Locations: New York City
Thousands of residents and visitors viewed the event from the baseball field at Hidalgo de Dolores Elementary School. Residents began renting out their homes after area hotels reached capacity. ET Cuatro Ciénegas Amid a vast landscape of gypsum dune fields — formed over millions of years — spectators viewed the eclipse. ET Dallas Crowds set up their picnic blankets alongside the Trinity River, which runs through Dallas, one of the largest cities to experience the total eclipse. ET Russellville More than 100 couples were married in a giant ceremony just minutes before the eclipse, during the Total Eclipse of the Heart festival.
Persons: — Dennis Overbye, Andrés Manuel López Obrador, ” Federico Garza, , David Bowie, Pink Floyd, Sun Ra, Taylor Swift Organizations: North America Today, Hidalgo de Dolores Elementary School, Nazas, Residents, Dallas Crowds, Russellville, Eclipse, Liverpool, Illinois Department of Transportation, Indiana, Indianapolis, Indianapolis Zoo, Lucas Oil, Roll Hall of Fame, Attica Railroad, Eclipse Fest, Buffalo State, Syracuse, Syracuse Mets, Worcester Red Sox, Hotels, Montreal Locations: North America, — Dennis Overbye Mexico, Sinaloa State, Mazatlán, Mexico, Hidalgo, Texas, Eagle, Dallas, Arkansas, Ozark, . Illinois, Southern Illinois, Midwest, . Ohio, Lake Erie, Cleveland, Taylor Swift . New York, Niagara Falls, England, Burlington , Vt, Burlington, Lake Champlain, Maine, Canada, U.S, Montreal, Fredericton , New Brunswick, New Brunswick, EclipseFest
The recall involves Tide, Gain Flings, Ace and Ariel liquid laundry detergent pod packets, which were made between September 2023 and February 2024 and sold in flexible film bags in the United States. The CPSC warned that eating a large quantity of detergent can result in death, especially among people with underlying health issues. There have been no confirmed cases of injury directly related to this packaging defect, the CPSC said. Consumers can check for recalled lot codes at pg.com/bags and compare them to codes at the bottom of their package. The CPSC has advised consumers to immediately put recalled bags out of sight and reach of children.
Organizations: New, New York CNN, Procter & Gamble, US Consumer Product Safety, Sam’s, Target, Walmart, Amazon, Procter, Gamble Locations: New York, United States
To profit from this possibility, here's an options trade that bets against the housing market. US10Y YTD mountain U.S. 10-year Treasury yield so far in 2024 I'm contemplating a bearish trade on Lowe's (LOW) within the consumer discretionary sector. DMI (Directional Movement Index): When the DI+ (green line) is above DI- (red line), the stock is in an uptrend. The trade structure I am using here is called a "bear put spread" also known as "put debit spread". If LOW trades at or below my short strike by the expiration date, this trade can yield a 100% ROI on the amount risked.
Persons: I'm, I've Organizations: Federal, Treasury, Lowes Locations: US10Y
Some economists interpreted that as a sign that the Fed is now more tolerant of higher inflation. Powell pushed back on the perception that the central bank has grown more comfortable with inflation being higher for longer than expected in his post-meeting news conference. and my sense coming out of this month’s meeting was that Fed Chair Powell wants to get this easing cycle going sooner rather than later. What’s allowing the Fed to be patient or more tolerant of higher inflation? They’re willing to essentially look through some of the bumpiness in the inflation data at the beginning of the year.
Persons: Jerome Powell, That’s, Powell, , ” Powell, “ We’re, Mohamed El, Erian, , Bell, Lydia Boussour, they’re, What’s, we’ve, Nathaniel Meyersohn, Read, Levi Strauss, Tupperware Organizations: Washington CNN, Federal Reserve, Financial Times, Fed, Home Depot, Home, P Global, Institute for Supply Management, Maine Foods, Dave, Buster’s Entertainment, US Labor Department, US Commerce Department, Stanford University Locations: EY, Cal
Airstrikes killed a number of soldiers near the northern Syrian city of Aleppo early Friday, Syria’s state news media and an independent organization reported, in what appeared to be one of the heaviest Israeli attacks in the country in years. The Syrian Observatory for Human Rights, a Britain-based group that tracks Syria’s civil war, said that the dead included 36 Syrian soldiers, seven Hezbollah fighters and a Syrian from the pro-Iranian militias. The group said the attack appeared to have hit multiple targets, including a weapons depot belonging to Hezbollah, a Lebanese militia that Iran supports and has a presence in Syria. The airstrikes stoked fears that have unsettled Western officials for months: that Israel’s war against Hamas in Gaza could escalate into a broader conflict against Syria, Iran and its proxies across the region, which could entangle allies of those involved, like Russia and the United States. But fears of a wider conflict have persisted as Israel and Hezbollah have clashed for months along the border, and as Israel has carried out assaults on Iran-linked targets in Syria.
Organizations: Syrian Observatory, Human Rights, Lebanese, . Army Locations: Syrian, Aleppo, Britain, Iran, Syria, Gaza, Russia, United States, Israel
Syria Blames Israel for Deadly Attack in Aleppo
  + stars: | 2024-03-29 | by ( Gaya Gupta | ) www.nytimes.com   time to read: +5 min
Israel’s military did not immediately comment on the strikes, but it has previously acknowledged carrying out hundreds of assaults on Iran-linked targets in Syria. Friday’s attack was at least the second deadly attack in Syria in less than a week. On Tuesday, airstrikes in eastern Syria killed several people. The Iranian state news media said that Israel was responsible, while the Syrian state news agency attributed it to American forces. The Tuesday strikes killed a member of Iran’s Islamic Revolutionary Guards Corps, according to Iranian state news media reports.
Persons: , SANA, Ali Abdulhassan Naim, Yoav Gallant, , , Firas Makdesi, Saleh al, Bashar al, Assad, al, Benjamin Netanyahu, Vladimir V, Putin, Israel, Johnatan Reiss Organizations: Syrian Observatory, Human Rights, , Lebanese, Hezbollah, Reuters, United Nations, Pentagon, Islamic Revolutionary Guards Corps, World Health Organization Locations: Syrian, Aleppo, Britain, Syria, Lebanese, Iran, Israel, Gaza, Lebanon, Syria’s, Israeli, Damascus, Beirut, United States, Russia
Abbott update : Shares of Abbott Laboratories were slightly higher Thursday, on pace for their third straight day of gains. The embattled cosmetics company was the top-performing Club stock in Thursday's session, boosted by an upgrade at Bank of America . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Eli Lilly, Wegovy, Abbott, Louis, Jim, Reckitt's Mead Johnson, Mead, Johnson, Stanley Black, Decker, Estee Lauder, Lauder, there's, Jim Cramer's, AJ Mast Organizations: CNBC, Stocks, Bloomberg, Amazon Pharmacy, Rite, Abbott Laboratories, Abbott, NEC, Home, U.S, Bank of America, Jim Cramer's Charitable, Getty Locations: U.S, St, Illinois, China, Indianapolis , Indiana
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