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Valuations coming down So if earnings are up, why is the S & P off its highs? Today, a month later, 2024 earnings estimates are essentially the same but the multiple has declined to 20.8. The S & P 500 hit a low of 4,117 on Oct. 27 and only recovered when rates came down in early November. There are some big drags on earnings Some companies are seeing large declines in earnings estimates that are weighing on their sectors. When including this one-time item, the S & P 500 earnings growth rate for the first quarter declines to 5.6%, from 8.7%, LSEG has noted.
Persons: Goldman Sachs, JPMorgan Chase, Morgan Stanley, Christopher Suh, Stephen Squeri, Hess, Nick Raich, LSEG, Hal Lawton, Brian Niccol, CNBC's Kate Rogers, Horton, Paul Romanowski, Kimberly, Clark, Michael Hsu Organizations: Companies, Netflix, JPMorgan, GE Aerospace, Caterpillar, Microsoft, Merck, Ford, Waste Management, Royal, Consumer, American Express, Energy, Marathon Petroleum, Apache, Valero Energy, Oil, Occidental Petroleum, Devon Energy, ConocoPhillips, Exxon Mobil, Scout, Bristol Myers Squibb, Karuna Therapeutics, Boeing, Nvidia, Meta, AMD Locations: financials, industrials, Royal Caribbean, North America
Evercore ISI reiterates Tesla as in line Evercore ISI lowered its price target on Tesla to $145 per share from $155. Barclays upgrades AT & T to overweight from equal weight Barclays sees "growth quality" for the telecommunications and wireless provider. Barclays downgrades Lululemon to equal weight from overweight Barclays downgraded the maker of athleisure wear due to rising competition. "We initiate coverage of Dave Inc. with a Market Outperform rating and $70 price target representing ~65% upside from the current price." "We are upgrading GWW from EW to OW, while raising our price target from $1,000 to $1,250."
Persons: Evercore, Tesla, Jefferies, LUV, Lululemon, LULU, Dave, Oppenheimer, Instacart, Bernstein, Goldman Sachs, William Blair, Eastman, Morgan Stanley, Berenberg, Melius, Price, Stephens, Grainger Organizations: Airlines, Jefferies, Southwest Airlines, Dynamics, Barclays, Dave Inc, JPMorgan, CART, Apple, Eastman Chemical, Arista Networks, Nvidia, Data, Citi Locations: Americas, China, Tulsa , Oklahoma, Kingsport , Tennessee
Read previewIn October 2022, Shopify's once high-flying stock hit its lowest price since before the Covid pandemic. AdvertisementNow, after two rounds of layoffs and a divestment of its fulfillment and logistics business, the picture looks a bit different for Shopify. Shedding a "money-losing logistics business"Dropping logistics and fulfillment is a major part of Shopify's stock comeback story. In May 2023, Shopify announced it would be selling the logistics business entirely to Flexport. In May 2023, Shopify cut another 20% of its workforce as it sold its logistics business to Flexport.
Persons: , Shopify's, Shopify, Oppenheimer, Ken Wong, Wong, D.A, Davidson, Gil Luria, Tobi Lütke, Lütke, Luria, Morgan Stanley, Jeff Hoffmeister, Bhavin Shah, GMV, We've, Shah Organizations: Service, Business, Systems, Investors, SEC, Deutsche Bank Locations: Salesforce, mstone@businessinsider.com
I then created my own business, teaching others how to make money from focus groups. I noticed that I was consistently bringing in $2,000 to $3,000 a month from focus groups alone, so I eventually transitioned to concentrate solely on doing focus groups. AdvertisementLast month, in March, I participated in 18 focus groups for a total of $2,770 or an average of $154 per focus group. The best free ways to find focus groups are by searching "focus groups near me" or "taste tests near me" on Google, Craigslist, and social media. They were reputable companies with a huge volume of focus groups, so things probably slipped through the cracks.
Persons: Filipe, , I've, he's, Burger King, Chase, you'll, haven't, Chicago, Jane Zhang Organizations: Service, PayPal, Apple, Google, Facebook, Craigslist Locations: Texas, Chicago, Chicago's, North, janezhang@businessinsider.com
Products are seen at an Amazon fulfillment center where they are being sorted and shipped out as same-day orders during Cyber Monday at the Same-Day Delivery Facility Fulfillment Center in Tampa, Florida, on Nov. 27, 2023. The company has said it wants to make same- and next-day delivery the standard, and it plans to double the number of same-day delivery facilities in the U.S. within the next few years. Amazon has already stood up more than 55 same-day delivery sites in the U.S., primarily clustered around major metro areas. Same-day sites also condense the fulfillment process, typically spread across multiple Amazon facilities under one roof. Amazon has bolstered investment in fast shipping as traditional retail rivals Walmart and Target have stepped up their delivery game.
Persons: Andy Jassy Organizations: U.S, Amazon, Amazon's, RBC Capital, Walmart, Target Locations: Tampa , Florida, U.S
It's the busiest week of the earnings season, and it could have major consequences for the stock market. This quarter: The fast-food giant is expected to report single-digit earnings and revenue growth from the year-earlier period, LSEG shows. Amazon is set to report earnings after the close. What history shows: Pfizer earnings beat earnings expectations 87% of the time, per Bespoke. Thursday Apple is set to report earnings after the bell.
Persons: Jeffrey Bernstein, Bernstein, JPMorgan's Andrea Teixeira, Teixeira, AMZN, Joseph Feldman, Feldman, AAPL, , Apple Organizations: Apple, Pfizer, IBM, CNBC, Barclays, Investment, Management, AWS, Amazon, pharma, Food and Drug Administration, UBS Locations: China
There have been 13 other market selloffs during the second year of a bull market since 1946, Belski noted. AdvertisementFollowing its 2021 pullback, the S&P 500 finished the second year of its bull market up 22.6% and 11.5% higher than its nadir. Valuations are still historically high, and mega-cap growth companies continue to make up a disproportionately large share of the S&P 500. Since Belski thinks this bull market has legs, he doesn't want to forgo future upside. These firms have higher earnings growth than the median S&P 500 name and also have lower price-to-earnings (P/E) and P/E-to-growth (PEG) ratios — a recipe for success.
Persons: , pales, Keith Lerner, Truist, Lerner, who've, Brian Belski, he's, Belski, selloffs Organizations: Service, Business, BMO Capital Markets, selloffs
Trump’s success might make you believe that he has turned the conventional wisdom on its head – that somehow, his legal troubles are helping him politically. There isn’t much of a sign that Trump’s legal woes are helping him among the wider electorate, even if they aren’t hurting him necessarily. Consider Trump’s polling against President Joe Biden. You might think that Trump would be gaining against Biden, if the cases against Trump were helping him. It’s not clear whether the money Trump’s raising because of appeals to his base during his legal troubles is offsetting the amount his committees are spending.
Persons: Donald Trump, Joe Biden, Trump, Biden, pollster, pollsters, don’t, Trump’s, isn’t, he’s, I’m Organizations: CNN, Republican, Biden, Trump, Marist College, Reuters, New York Times, Siena College, NBC, Quinnipiac University, Marquette University Law School, Times, Financial Times Locations: York, Quinnipiac, New York
But too often, recent efforts to reform institutions have meant reconstituting them in ways that distort or fundamentally undermine their core mission. Nonprofit organizations, governmental agencies, university departments and cultural institutions have ousted leaders and sent their staffs into turmoil in pursuit of progressive political goals. The latest target is PEN America, a nonprofit organization dedicated to free expression by journalists and authors. This followed a refusal by several writers to have their work considered for PEN’s annual literary awards. According to its 21 signatories, mostly up-and-coming authors, “among writers of conscience, there is no disagreement.
Persons: George Floyd, Salman Rushdie, PEN’s, Suzanne Nossel, Jennifer Finney Boylan, Organizations: Nonprofit, PEN America, PEN Locations: Gaza, Israel
Read previewKhloe Kardashian is convinced her two children, True and Tatum Thompson, are poking fun at their mom with whales around the house. In one post, Kardashian shared that the kids had left her a crudely drawn whale in the ocean. AdvertisementIn a second post, Kardashian revealed that she had found more whales among her daughter True's homework. Kardashian said on X last year that she dealt with a fear of whales for years and acknowledged that the trepidation was "totally irrational." AdvertisementLike many other cetaphobes, Kardashian said on X she is afraid of the usually peaceful mammal because of its "ginormous" size.
Persons: , Khloe Kardashian, Tatum Thompson, Kardashian, Instagram, Tatum, I'm, she's, Khloe, Kim Kardashian Organizations: Service, Business, People, National Institute of Health
“So that’s not true? That’s not true?”The judge in control of Donald J. Trump’s Manhattan criminal trial had just cut off the former president’s lawyer, Todd Blanche. Mr. Blanche had been in the midst of defending a social media post in which his client wrote that a statement that had been public for years “WAS JUST FOUND!”Mr. Blanche had already acknowledged during the Tuesday hearing that Mr. Trump’s post was false. But the judge, Juan M. Merchan, wasn’t satisfied. But this particular defendant, accused by the Manhattan district attorney’s office of falsifying business records to conceal a sex scandal, has spent five decades spewing thousands and thousands of words, sometimes contradicting himself within minutes, sometimes within the same breath, with little concern for the consequences of what he said.
Persons: Donald J, Todd Blanche, Mr, Blanche, Trump’s, Juan M, wasn’t, Merchan Locations: Manhattan
Che told me to say that, and I’m just realizing I was set up.” “Shame, shame, shame on you.” “Shame on you!” “Shame, shame, shame, shame.”President Biden didn’t waste time. “The 2024 election’s in full swing and yes, age is an issue,” Mr. Biden said in a roughly 10-minute speech. He ended it by noting that his grandfather, who recently died, had voted for Mr. Biden in the last election. J.B. Pritzker of Illinois held court with guests as Biden campaign officials talked about recent polls showing Mr. Biden cutting into Mr. Trump’s lead. “My vice president actually endorses me,” Mr. Biden said, referring to former Vice President Mike Pence’s decision not to endorse Mr. Trump.
Persons: Biden, Donald J, , Donald, Joe, Michael Che, Che, I’m, , ” Mr, , ” “ Donald, Mr, Stormy Daniels, Trump, , , Washington Hilton, Hazami Barmada, Evan ”, Evan Gershkovich, “ We’re, Paul Whelan, we’re, Evan, Austin Tice, Deborah, Tice, Haiyun Jiang, The New York Times Kelly O’Donnell, Gershkovich, Ms, O’Donnell, Colin Jost, Advance —, Jost, Jost didn’t, mignon, Lester Holt, Jeffrey D, Al Sharpton, John Fetterman, Scarlett Johansson, Jon Hamm, Sean Penn, Chuck Schumer, J.B . Pritzker, Trump’s, Robert E, Lee, Mike Pence’s Organizations: White, ’ Association, Israel, Union, , Washington Hilton, New York Times, The New York Times, Washington, Wall Street, ., Home, U.S, Journalists, Austin, Wall Street Journal, Credit, NBC News, Staten, Advance, Mr, Black, White House, Hollywood, Democratic, Illinois, Biden, Locations: Gaza, New York, York, Russia, Moscow, The U.S, Syria, Pennsylvania, Gettysburg
AI is making managers nervous
  + stars: | 2024-04-28 | by ( Aaron Mok | ) www.businessinsider.com   time to read: +3 min
Read previewManagers are worried that using powerful generative AI tools like OpenAI's ChatGPT in the workplace might cut their salaries. Of those surveyed, 48% of managers reported that AI tools are a "threat to their pay" and will "fuel wage declines" across the country in 2024. In early March, Cognition unveiled Devin, the 'first AI software engineer' the startup claims could fix bugs and train AI models. Sixty-two percent of managers surveyed, according to Beautiful.ai, said their employees feel like AI could eventually put them out of their jobs. "There's no doubt that the implementation of AI tools has employees questioning their value to a company," according to the survey.
Persons: , Devin, Beautiful.ai, didn't Organizations: Service, Business
Read previewThis as-told-to essay is based on a conversation with Andy Collins, a 26-year-old software engineer from Chicago pursuing a professional esports career playing the first-person shooting game Valorant. Being a professional esports competitor wasn't the most well-known or traditional career path at the time. Valorant has only been out for four years, but its professional esports scene is rapidly growing in popularity. Even though I'm playing far fewer hours per day than before — I only spend around four hours after work each day playing other teams and strategizing for my weekly matches — I'm in my best-ever form. Are you a professional esports athlete and want to share your story?
Persons: , Andy Collins, didn't, would've, Valorant, — you've, DarkZero, Valorant esports, I'm, wasn't, I've Organizations: Service, Business, Robert Morris University ., Valorant's Challengers League, North American, League, , The Guard, Riot Games, DoorDash, Starbucks, Madison Locations: Chicago, United States, Austin, Valorant, mhall@businessinsider.com
Some of Wall Street's favorite stocks are due to report their latest earnings in the week ahead. As of Friday, 77% of companies that have reported topped analyst estimates for their quarterly earnings, according to FactSet. To find stocks reporting next week that might see a post-earnings rise in valuation, CNBC Pro screened for names that Wall Street analysts recommend and that have earnings momentum at their back. Mastercard has seen earnings estimates rise by 12% in the past three months, and 20% over the past six months. Analysts have raised the Silicon Valley real estate investment trust's earnings estimates by 29% over the past three and six months.
Persons: Wall, FactSet, Ronald Josey, Josey, GenAI, TD Cowen, Bryan Bergin, Equinix, , Fred Imbert Organizations: Dow Jones, CNBC Pro, Wall, Companies, Amazon Web Services, UBS, Citi, Mastercard
The action quickly and sharply reversed back to the upside Friday after blowout earnings reports from Alphabet and Microsoft . In the week ahead, earnings are likely to drive the action again, though we'll get a few important macroeconomic reports. Earnings: We've got the biggest week of the earnings season ahead of us, with 12 Club holdings set to report. Eli Lilly 's report Tuesday morning continues to be all about sales of type-2 diabetes treatment Mounjaro and weight-loss drug Zepbound. In DuPont 's report Wednesday morning, we're looking for a continued rebound in its semiconductor business following a sequential increase last quarter.
Persons: Ford, we'll, Dow Jones, We've, Buckle, Eaton, Eli Lilly, Lilly, We're, Estee Lauder, Fabrizio Freda, we've, Linde, Bausch, Royal Philips, Woodward, SIRI, Archer, Johnson, Stanley Black, Decker, BAX, Cardinal Health, Parker, Belden, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Microsoft, Meta, Google Search, Big Tech, Nvidia, Broadcom, Ford Motor, Honeywell, Danaher, Labor Department, Labor, PMI, Services PMI, GE Healthcare, Amazon Web Services, Starbucks, Deutsche Bank, DuPont, Bausch Health, U.S ., Appeals, Apple, iPhones, Vision, ON Semiconductor, Resource Partners, Franklin Resources, Paramount, Transocean Ltd, Semiconductors, Arch Capital, Logitech International, Lattice Semiconductor, F5 Networks, Sanmina Corporation, GE HealthCare, PayPal, 3M Company, McDonalds, Enterprise Products Partners, Cola Company, Melco Resorts, Entertainment, SiriusXM Holdings, Oatly, American Electric Power Company, Leidos Holdings, Marathon Petroleum, Daniels, Midland Co, Equitrans Midstream Corporation, HSBC Holdings, HSBC, Devices, Caesars Entertainment, Lumen Technologies, Mondelez, Pfizer, CVS Health, Barrick, Mastercard Inc, Cruise Line Holdings Ltd, Kraft Heinz Company, Marriott International, Ares, Generac Holdings, Johnson Controls, Cenovus Energy Inc, Qualcomm, Devon Energy, Paycom, Axcelis Technologies, Coeur D'Alene Mines, Sunnova Energy International, MGM Resorts International, MGM, Solar Inc, Oil, Allstate, Co, Tenable Holdings, Enovix Corporation, Gladstone Capital, Avis Budget Group, eBay, EBAY, LIN, Novo Nordisk, Natural Resources, PENN Entertainment, Apache, ConocoPhillips, InMode Ltd, Baxter International, Cardinal, Regeneron Pharmaceuticals, Apollo Global Management, LLC, Cinemark Inc, Dominion Energy, Coterra Energy, Coinbase, Bill.com Holdings, Booking Holdings, United States Steel, AXT Inc, Materials, Energy, Hershey Company, XPO Logistics, Cboe, American Pipeline, Amneal Pharmaceuticals, Brookfield Business Partners, Brookfield Renewable Corporation, Magna International, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Bloomberg, Getty Locations: U.S, megaprojects, China, Eaton, Corning, Coeur D'Alene, Albemarle, ALB, Novo, New York
Read previewThe Biden administration this week pushed out a slate of rules it says are meant to boost competitiveness and put more money into workers' pockets. There are already challenges to at least one of the rules — but together they could land overtime pay for millions more workers, ban noncompetes that prevent workers from moving into jobs in similar industries, and help people get automatic refunds for delayed or canceled flights. More workers eligible for overtime payUnder the Department of Labor's new rule, many workers who make under $43,888 will be eligible for overtime pay effective July 1. A ban on noncompetes that keep workers from taking new jobsPerhaps the most sweeping action for workers came from the Federal Trade Commission, which finalized a rule to ban noncompetes in most cases. Will a ban on noncompetes, new overtime thresholds, or airline refunds affect your life?
Persons: , Biden, Lael Brainard, That's, it's, Judy Conti, Pete Buttigieg, Brainard, Aaron, Ryan, John Smith, Suzanne Clark, Jeremy Merkelson, Davis Wright Tremaine, Merkelson, Elizabeth Wilkins, Wilkins Organizations: Service, Business, National Economic Council, Department of, National Employment Law, of Transportation, Federal Trade Commission, . Upjohn Institute, Employment Research, of Commerce, Texas Association of Business, Federal Trade, Chamber of Commerce, FTC
Donald J. Trump is a thrice-married man accused of covering up a sex scandal with a porn star after the world heard him brag about grabbing women by their genitals. But when Mr. Trump’s lawyers introduced him to a jury at his Manhattan criminal trial this week, they dwelt on a different dimension: “He’s a husband. And he’s a person, just like you and just like me.”That half-hour opening statement encapsulated the former president’s influence over his lawyers and their strategy. It reflected specific input from Mr. Trump, people with knowledge of the matter said, and it echoed his absolutist approach to his first criminal trial. And while defendants often offer feedback to their lawyers, this particular hands-on client could hamstring them.
Persons: Donald J, Trump, He’s Organizations: Manhattan
(CNN) — At the premiere of his new film “Poolman” in Los Angeles on Wednesday night, Chris Pine stepped onto the red carpet in an artfully-disheveled ensemble. Over a light beige slogan tee, Pine wore a “Miami Vice”-worthy blazer accessorized with a large pink peony boutonnière. For the Vanity Fair Oscar's after party on March 27, 2022, Chris Pine wore a rich red velvet smoking jacket over a shirt with a pussybow-style neckline. Rich Fury/VF22/Getty ImagesPictured here in slouchy red, white and blue suiting, Pine attends the Venice International Film Festival on September 05, 2022. Sala Gedu/BackgridOn the “Poolman” red carpet, the 43-year-old actor told E!
Persons: Chris Pine, he’s, Rich Fury, Pine, Franco Origlia, Jon Kopaloff, Anthony Ghnassia, Sala Gedu, Tom Selleck, Harrison Ford, Organizations: CNN, , Miami, Venice Locations: Los Angeles, Hollywood, Beverly Hills , California, Paris, comfy, Instagram, Los Feliz , California
Mr. Pecker was also asked whether he believed Mr. Trump was concerned that his wife or family would find out about the affairs. director, and Reince Priebus, who was chairman of the Republican National Committee, Mr. Pecker reassured Mr. Trump that everything was fine. Mr. Trump then told the group that Mr. Pecker probably “knows more than anyone else in this room.”“It was a joke,” Mr. Pecker testified, adding, “They didn’t laugh.”Pecker did a lot for Trump, who could be hard to please. Mr. Pecker variously described Mr. Trump as becoming “very angry” and “very aggravated.”Still, Mr. Pecker said he felt no ill will. Mr. Pecker described a 2002 meeting in which Mr. Schwarzenegger asked Mr. Pecker not to run negative stories about him before his run for governor of California.
Persons: Donald J, Trump, Stormy Daniels, Donald Trump, David Pecker, Pecker, Karen McDougal, Daniels, McDougal, Trump’s, Michael D, Cohen, Marion Curtis, , Mr, McDougal —, , ” Mr, , Ahmed Gaber, James Comey, Reince Priebus, ” Pecker, Emil Bove, Arnold Schwarzenegger, Schwarzenegger Organizations: National Enquirer, AMI, ., Associated, Prosecutors, Trump, White, The New York Times, Republican National Committee, Mr, Republican Locations: Trump’s, California
A Utah couple accidentally shipped their cat, Galena, in an Amazon return package. AdvertisementA Utah couple accidentally shipped their pet cat in an Amazon return package, trapping it in the box without food or water for six days. Advertisement"The anxiety and stress of not knowing what happened to her was excruciating," Clark told the local news outlet. "I didn't believe her at first and thought it was a prank," Clark told KSL-TV. AdvertisementAccording to the news outlet, the vet told Clark the cat was found inside an Amazon return package, alongside five pairs of steel-toed work boots.
Persons: , Carrie Clark, Clark, Galena, Clark didn't Organizations: Service, KSL, Amazon, American Veterinary Medical Association Locations: Utah, Galena, California
Divya Jakatdar imagined that she would spend her senior year of high school celebrating college acceptances with her friends, attending prom and walking across the stage at graduation to the cheers of her family members. Instead, her senior spring arrived at the same time as the coronavirus pandemic. She said goodbye to high school classmates over Zoom; her graduation was a drive-through. Ms. Jakatdar, 21, thought her senior year at the University of Southern California might be a kind of do-over. “It’s a very big hit to morale for the exact class that felt like they lost their high school graduation,” Ms. Jakatdar, the student body president of U.S.C., said a few minutes after getting news that the commencement was off.
Persons: Divya Jakatdar, Jakatdar, Asna Tabassum, Jon M, Chu, Billie Jean King, ” Ms, “ We’ve, Organizations: University of Southern Locations: University of Southern California, Israel
watch nowContemporary artist Sacha Jafri prides himself on his unique way of working. The artist Sacha Jafri at his studio in Dubai, U.A.E. He said he goes into a meditative state when creating his work. So, I'm in a meditative state, I'm in a complete trance, I have no clue what I'm doing. Artist Sacha Jafri painting on the helipad at the Burj Al Arab Jumeirah hotel in Dubai.
Persons: Sacha Jafri, Jafri, I've, Andre Abdoune, Emad Salehi Organizations: Oxford, Ruskin School of Art, CNBC, Burj, Burj Al Arab Jumeirah Locations: Dubai, London, U.S, British, U.A.E, Burj Al Arab
Canceling Life Insurance
  + stars: | 2024-04-26 | by ( Ronda Lee | Alani Asis | Paul Kim | ) www.businessinsider.com   time to read: +11 min
How to cancel your life insurance policyCanceling a term life insurance policyThere are several ways to cancel a term life insurance policy. Alternatives to life insurance cancelationcanceling your life insurance policy isn't ideal if you have dependents who rely on your income for financial support. If you have a whole life insurance policy, look into reduced paid-up life insurance. Life insurance settlementIf you don't have a terminal diagnosis and you want to sell your term life insurance policy, you can apply for a life insurance settlement with a third-party provider instead of canceling your policy. Canceling life insurance FAQsWill I get any money back if I cancel my life insurance policy?
Persons: Lucas Siegel, Siegel, wouldn't, policyholders, you've Organizations: Internal Revenue Service
Amazon founder Jeff Bezos thinks "work-life balance" is a "debilitating phrase." The billionaire and former Amazon CEO instead taught employees that work and life are a circle. AdvertisementJeff Bezos doesn't like the phrase "work-life balance," and has said in the past that he views work and life as actually a circle. "I get asked about work-life balance all the time," Bezos told Axel Springer CEO Mathias Döpfner. "If you can get your work life to where you enjoy half of it, that is amazing.
Persons: Jeff Bezos, Bezos, , Jeff Bezos doesn't, Axel Springer, Mathias Döpfner, MacKenzie Scott, Shah Rukh Khan, Zoya Akhtar, Andy Jassy, fiancée Lauren Sanchez, doesn't, Katie Canales, Zoë Bernard Organizations: Amazon, Service, Vox's, AWS, Origin Locations: Mumbai
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