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☆ Biden says U.S. economy is world's best. Trump calls it a 'cesspool.' Data is clear.
▼ + stars: | 2024-04-04 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

President Joe Biden is fighting to convince inflation-weary voters that the U.S. economy is healthy. "America has the best economy in the world," he told NBC's Today Show on Monday, laying out an argument that is central to his reelection campaign. "The U.S. economy is leading the way for the global economy. It's driving the global economic train," Moody's Chief Economist Mark Zandi told CNBC. Besides sticky high prices that are projected to cool in the coming year, Zandi said that the fundamentals of the current U.S. economy are nearly ideal: "The economy is picture perfect.

Persons: Joe Biden, NBC's, Donald Trump, Trump, Mark Zandi, Dow Jones, Zandi Organizations: Flex, International Monetary Fund, IMF, CNBC Locations: U.S, West Columbia, South Carolina, America, United States, Georgia

☆ These borrowers are likely to be eligible for Biden's new student loan forgiveness plan
▼ + stars: | 2024-02-20 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

Sean Rayford | Getty ImagesSince the Biden administration's first student loan forgiveness plan was rejected at the Supreme Court, it has been working on creating a new, legally viable relief package. The alternative plan, which has become known as Biden's "Plan B," could forgive the student debt for as many as 10 million people, according to one estimate. While Biden first attempted to cancel student debt through an executive order, he has now turned to the rulemaking process. Borrowers in repayment for 20 years or moreThose who have been carrying their student debt for decades may also benefit. watch nowStudent loan servicers also earn a fee per borrower per month, which advocates say discourages transparency around loan forgiveness opportunities.

Persons: Joe Biden, Sean Rayford, Biden, Persis Yu, George W, Bush, servicers, Yu Organizations: Flex, Biden administration's, Supreme, U.S . Department of Education, Student, Protection, Education Department, Public, Consumer Financial, Bureau Locations: West Columbia, South Carolina

☆ Stanley Druckenmiller exits Alphabet, keeps winning AI plays Nvidia and Microsoft
▼ + stars: | 2024-02-15 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire investor Stanley Druckenmiller dumped his stake in Google's Alphabet entirely last quarter, while keeping his high-conviction bets on artificial intelligence through Microsoft and Nvidia . Druckenmiller's Duquesne Family Office sold $112 million worth of Alphabet shares last quarter, according to a regulatory filing. His firm briefly held Alphabet in the first quarter of 2023, sold it the next quarter and entered the stock again in the third quarter. He said he has been betting on the space through two stocks — Microsoft and Nvidia. But Druckenmiller, a Bowdoin College grad, bought call options on Nvidia with a notional value of $242 million last quarter.

Persons: Stanley Druckenmiller, Druckenmiller, George Soros, Soros, Tempur Sealy Organizations: Microsoft, Nvidia, Druckenmiller's Duquesne Family, Bowdoin College grad, Sohn Investment, Quantum Fund, Duquesne Capital Management, Arista Networks, Woodward, Flex Ltd, Barrick Gold, Marvell Technology

☆ Biden student loan forgiveness plan: Administration reveals who may qualify
▼ + stars: | 2024-02-15 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

President Joe Biden speaks about his economic plan at the Flex LTD manufacturing plant on July 6, 2023 in West Columbia, South Carolina. The Biden administration has released its proposal for which struggling borrowers should qualify for its new student loan forgiveness plan. At one point, it seemed possible that the "financial hardship" category had been dropped from what has become known as Biden's Plan B for student loan forgiveness. While Biden first attempted to cancel student debt through an executive order, he has now turned to the rulemaking process. Over three rulemaking sessions, the negotiators tasked with determining who will be eligible for the president's revised relief plan identified several categories that could signal hardship.

Persons: Joe Biden, Biden, Joe Biden's, Biden's, James Kvaal, Pell Grant, didn't Organizations: Flex, U.S . Department of Education, Finance, Department of Education, Education Department Locations: West Columbia, South Carolina

☆ President Joe Biden wins South Carolina Democratic Primary, NBC News projects
▼ + stars: | 2024-02-03 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

President Joe Biden has won the South Carolina Democratic primary, NBC News projects. Running against Biden were House Rep. Dean Phillips, D-Minn., and self-help author and 2020 Democratic candidate Marianne Williamson. NBC News' Decision Desk projects that Biden will be awarded all 55 Democratic delegates in South Carolina. South Carolina holds open primaries, which means any voter registered in the state is permitted to vote in either party's primary. The president did not win the 2020 Democratic primary in New Hampshire.

Persons: Joe Biden, Biden, Dean Phillips, Marianne Williamson, Donald Trump, —, Williamson, Phillips, Nikki Haley, Biden's Organizations: Flex, South Carolina Democratic, NBC, Biden, Democratic, Republican, South, Palmetto State, . South, The Palmetto, Democratic National Committee, DNC, Democratic Party Locations: U.S, West Columbia, South Carolina, Nevada, Las Vegas, ., . South Carolina, , New Hampshire, New Hampshire

☆ CNBC Daily Open: U.S. economy's state of play
▼ + stars: | 2024-01-25 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Jonathan Ernst | ReutersWhat you need to know todayThe bottom lineAll eyes will be on the state of the U.S. economy as the first official reading of fourth-quarter GDP data drops Thursday morning. "Data released [Thursday] may in retrospect turn out to document the one quarter of true 'Goldilocks' conditions," Citi economist Andrew Hollenhorst wrote. Since 2016, a slew of government data was published the day before the GDP report — namely, information on business inventories and trade, which are part of the GDP calculation.

Persons: Joe Biden, Jonathan Ernst, Andrew Hollenhorst, Ian Shepherdson, Shepherdson, —, Jeff Cox Organizations: CNBC, Flex, Reuters, Citi, Pantheon Locations: U.S, West Columbia, South Carolina

☆ ‘That’s Bidenomics at work': White House eager to take credit for retail sales bounce
▼ + stars: | 2024-01-17 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

The White House eagerly took credit Wednesday for December's strong retail sales numbers, which beat expectations due to higher consumer spending during the holiday season. "That's not an accident, that's Bidenomics at work," Press Secretary Karine Jean-Pierre said at a press briefing. Retail sales popped 0.6% in December, above the 0.4% Dow Jones projection. The White House reported last week that it had received nearly 16 million small business applications in the first three years of Biden's presidency. Wednesday's retail sales victory lap came hours after the White House took fresh aim at corporate junk fees, issuing new regulations on big banks for overdraft fees.

Persons: Joe Biden, that's, Karine Jean, Pierre, Dow Jones, Biden, Jean, Biden's, Pierre said, White, Donald Trump Organizations: Flex, White, White House, Biden, Republican Locations: U.S, West Columbia, South Carolina

☆ Biden slams Trump as 'revealing twisted true colors' after Trump says he hopes economy crashes in 2024
▼ + stars: | 2024-01-09 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

The White House took aim at former President Donald Trump after the Republican presidential candidate front-runner said he hoped the economy would crash this year rather than during his theoretical second term. Economists have forecast economic slowing in 2024, but consensus has not gone so far as to cry recession. The White House used Trump's comment as an opportunity to tout Biden's economic wins and to draw contrasts with the previous administration. Trump has taken advantage of Biden's struggling economic narrative on the campaign trail, reminiscing on what he claims was a golden economy under his administration. Under Trump, the economy expanded for several years but the stock market ultimately came crashing down in 2020 at the advent of the pandemic while Trump was still in office.

Persons: Joe Biden, Donald Trump, Andrew Bates, Trump, Herbert Hoover, Hoover's, Biden, Bates Organizations: Flex LTD, White, Republican, Lindell, Dow Jones Industrial, Trump Locations: U.S, West Columbia, South Carolina

The officials inspected laptops of Lenovo employees during the visit, one of the sources said. They also tried to contact Lenovo's senior management during and after the visit as part of the inquiry, the person added. Lenovo, which confirmed the visit, said it was "co-operating with the authorities and will provide all possible support required". Earlier in the day, Reuters reported that tax officers also visited the facilities of contract manufacturer Flex Ltd in Tamil Nadu state. Reporting by Munsif Vengattil in Bengaluru and Aditya Kalra in New Delhi; Editing by Toby Chopra, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas White, Munsif, Aditya Kalra, Toby Chopra, Kirsten Donovan Organizations: Lenovo, REUTERS, Rights, Wednesday, Reuters, Flex, Thomson Locations: Puducherry, Bengaluru, Tamil Nadu, New Delhi

☆ Here are Credit Suisse's top picks for August, including healthcare and tech stocks
▼ + stars: | 2023-08-06 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Credit Suisse refreshed its "top of the crop" stock picks for August, betting on some big-name stocks as investors continue to feed the markets with optimism. Credit Suisse recently highlighted several stocks the bank's analysts think can outperform this month. "It is increasingly clear that greater service levels in the form of faster delivery is leading to consumers assigning a higher value to Prime" memberships, Credit Suisse said. Credit Suisse also named electronics manufacturer Flex Ltd. as a top pick. Credit Suisse assigned a $126 price target on Merck, which implies 20% appreciation from Friday's closing price.

Persons: Stocks, Stephen Ju, Amazon's, Ju, Shannon Cross, Flex, Cross, Trung Huynh, Merck, — CNBC's Michael Bloom Organizations: Suisse, Credit Suisse, Amazon, Flex, Merck, Prometheus Biosciences

☆ Biden's economic approval rating rises slightly, but is still just 37% despite 'Bidenomics' push
▼ + stars: | 2023-07-20 | by ( Steve Liesman | ) www.cnbc.com time to read: +5 min

The president's economic approval rating inched up by 3 percentage points compared with the prior survey in April, with a 4-point drop in disapproval. Zoom In Icon Arrows pointing outwardsThe survey showed small gains in Americans' views on the economy, though to levels that remain depressed. The percentage of Americans saying the economy is excellent or good rose 6 points to a still-low 20%. And Americans believe Republicans have better policies than Democrats to handle the key economic issues, often by substantial margins. Republicans lead Democrats by double digits when asked which party would do a better job on the economy, inflation and improving the respondent's personal financial situation.

Persons: Joe Biden, Jonathan Ernst, Joe Biden's, Jay Campbell, Campbell, …, Biden, Micah Roberts, Republican pollster, That's Organizations: Flex, White, CNBC, America Economic, Hart Research, Democratic, Republicans, Republican Locations: U.S, West Columbia, South Carolina

☆ Bank of America ups price target on this little-known Inflation Reduction Act beneficiary
▼ + stars: | 2023-07-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Bank of America sees more upside in store for this little-known beneficiary of reshoring trends and the Inflation Reduction Act. Analyst Ruplu Bhattacharya upped the bank's price target on shares of Flex Ltd. to $31 from $28, citing its 15-year partnership to make microinverters for Enphase Energy . The analyst also highlighted the company's long-term business mix and improving margins as contributing factors to the price hike. FLEX YTD mountain Shares in 2023 "FLEX should continue to benefit from the Inflation Reduction Act (IRA) which can help spur demand for clean energy and reshoring manufacturing back to the US. Inverters are included in FLEX's core renewables business which is part of its industrial segment," he wrote in a Friday note to clients.

Persons: Ruplu Bhattacharya, Bhattacharya, — CNBC's Michael Bloom Organizations: of America, Flex Ltd, Enphase Energy

☆ Solar tech firm Nextracker raises $638 mln in upsized U.S. IPO
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

Feb 8 (Reuters) - Solar technology firm Nextracker raised $638 million in its U.S. IPO, pricing it slightly higher than its indicated target range, parent company Flex Ltd (FLEX.O) said in a statement on Wednesday, adding that the number of shares sold was increased. Nextracker sold 26.6 million shares of its Class A common stock at $24 apiece, according to the statement, giving the Fremont, California-based company a valuation of over $3.5 billion. This comes at the upper-end of their indicated range of $20 to $23 per share. The decision to increase the deal size comes at a challenging time for the U.S. IPO market, where activity has come to a standstill due to heightened volatility in a rising interest rate environment. Nextracker has also granted the underwriters an option to purchase up to about additional 4 million shares, it added.

Feb 8 (Reuters) - Shares of solar-tracking business Nextracker Inc soared 26% in their U.S. market debut on Thursday, suggesting that the IPO market was showing signs of emerging from a prolonged freeze. "It's yet another sign that the 2023 IPO market is thawing. So it's a breath of fresh air," said Matthew Kennedy, senior IPO market strategist at Renaissance Capital. Nextracker raised $638 million from 26.6 million shares in its IPO on Wednesday, higher than its original plan of $534.9 million. Founded in 2013 by Chief Executive Officer Dan Shugar, Nextracker provides solar tracker and software solutions for solar power plants.

☆ Cramer's lightning round: I think Boeing is good
▼ + stars: | 2023-01-17 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...Boston Properties Inc : "They are disciplined, they've got a good yield, and while I don't endorse it myself ... there's a good thesis behind it." Loading chart...Biohaven Ltd : "It's a great speculative buy." Loading chart...Flex Ltd : "My belief is that it's an inexpensive stock." Loading chart...Boeing Co : "I think Boeing is good." Loading chart...GSK plc : "I think Pfizer is a much better stock."

☆ Here are some of Credit Suisse's top stock picks heading into 2023
▼ + stars: | 2022-12-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Credit Suisse has refreshed its list of top U.S. stock picks. Microsoft is among Credit Suisse's "top of the crop" ideas, along with Discover Financial and Motorola Solutions . Here are 10 of Credit Suisse's top picks: Microsoft is a recurring "top of the crop" pick, chosen by Credit Suisse analysts for its potential to "disproportionately benefit" from the accelerated shift from infrastructure and platform layers to cloud-first roadmaps. Among the newcomers, Ross Stores is one of Credit Suisse's top picks among discount retailers. Credit Suisse's price target is about 4% from Tuesday's closing price.

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