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The upbeat outlook from the world’s largest memory chip maker sent its shares 1.8% higher on Tuesday after it reported a more than 10-fold rise in first-quarter operating profit. Operating profit rose to 6.6 trillion won in January to March, up from 640 billion won a year earlier. It was the company’s highest operating profit since the third quarter of 2022. Samsung’s mobile devices business booked a 3.51 trillion won operating profit in the first quarter, down from 3.94 trillion won a year earlier. Rising costs, including increased memory chip prices, dented margins from its flagship Galaxy S24 smartphones launched during the quarter.
Persons: ” Jaejune Kim, Jeff Kim, ” Kim Organizations: Seoul Reuters, Samsung Electronics, Samsung, SK Hynix’s, Nvidia, SK Hynix, AMD, KB Securities, Apple Locations: Seoul, China
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFriday’s rapid fire: Netflix, Nordstrom, KB Home, Shopify and American ExpressCNBC’s Jim Cramer on Friday offered his thoughts on a range of market-moving headlines outside the Investing Club portfolio.
Persons: Jim Cramer Organizations: Netflix, Nordstrom, KB, Express
Intuitive Surgical — Shares of the robotic surgery firm popped 3% after posting a first quarter earnings and revenue beat. Western Alliance — Shares slipped 2% after the firm missed earnings expectations in its latest quarter. Western Alliance reported earnings of $1.60 per share, while FactSet had estimated this at $1.64 per share. The company slightly missed revenue expectations, however, posting $20.20 billion, while analysts expected $20.41 billion. American Express — Shares slid 1.5% despite the financial services company posting a first-quarter earnings and revenue beat above FactSet estimates.
Persons: Ashley Helgans, Sephora, Shopify, Morgan Stanley, Wells, Biden, SLB, LSEG, FactSet, Proctor, Gamble, — CNBC's Hakyung, Jesse Pound, Samantha Subin Organizations: Jefferies, Netflix, Energy, Western, Western Alliance, Paramount, New York Times, Bloomberg, Sony Pictures Entertainment, Apollo Global Management, Skydance Media, Bentley Systems, Schneider Electric, American, American Express Locations: Canada, Wells, North America, — CNBC's Hakyung Kim, Tanana
Nordstrom : The department store chain's CEO and president — both members of the founding Nordstrom family — have shown interest in taking the company private . "They should just worry about operating" the company, Cramer said, referring to CEO Erik Nordstrom and President Pete Nordstrom. Shopify : Shares rose more than 2% after analysts at Morgan Stanley upgraded the stock to a buy-equivalent rating. "This is to I think stem the endless decline that is unwarranted because it's a great company," Cramer said. Shares rose more than 4%.
Persons: Jim Cramer's, Jim Cramer, Nordstrom, , Cramer, Erik Nordstrom, Pete Nordstrom, Morgan Stanley, Stephen Squeri Organizations: CNBC, Club, Netflix, homebuilder, American Express
Intuitive Surgical — Shares of the provider of robotic-assisted surgical solutions rose 1% after the company posted stronger-than-expected results. Western Alliance — The regional bank stock fell less than 1% in extended trading after the firm posted disappointing earnings. Western Alliance posted an EPS of $1.60 for the latest quarter, 4 cents below a FactSet estimate. KB Home – The homebuilder advanced nearly 2% after announcing that its board of directors authorized a new $1 billion share repurchase. KB Home also hiked its dividend to 25 cents a share from 20 cents, payable on May 23.
Organizations: Netflix, Western Alliance, PPG Industries, KB
How Khruangbin’s Sound Became the New Mood Music
  + stars: | 2024-04-10 | by ( Ryan Bradley | ) www.nytimes.com   time to read: +1 min
Steve Christensen, Khruangbin’s longtime producer, explained it to me like this: Just about every day, he gets hit up on Instagram by folks asking how to achieve a particular Khruangbin sound. Their gear and their instruments are simple and straightforward to the point of being borderline ascetic. (Ochoa, for example, has not changed the strings on her bass since 2010, when the group first formed.) “I know it sounds so simple,” Christensen says, “but if they’re not playing as a trio, it just doesn’t sound like KB.”We are having trouble retrieving the article content. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.
Persons: Steve Christensen, Khruangbin’s, Ochoa, Johnson, Speer, Christensen, ” Christensen, they’re Organizations: The
The country’s top priority “is securing food for all Zimbabweans,” the president told journalists at the state house in Harare. Kb Mpofu/ReutersIn Zambia, Malawi and Central Mozambique, extreme drought has damaged more than 2 million hectares of crops, Oxfam said. Zambia declared its drought a disaster on February 29. In Mozambique — a country accounting for only 0.2% of global emissions — 3 million people face hunger, according to Oxfam. The country’s capital, Maputo, experienced devastating floods in March, after Tropical Storm Filipo hit followed a few weeks later by further intense rainfall.
Persons: South Africa CNN —, Emmerson Mnangagwa, El Niño, Zimbabwe —, Filipo, ” Teresa Anderson, Machinda Marongwe, ” Marongwe Organizations: South Africa CNN, Oxfam, Reuters, Democratic, United Nations Office, Humanitarian Affairs, United States Agency, International, Systems Network Locations: Johannesburg, South Africa, Africa, Zimbabwe, Zambia, Malawi, Harare, , Angola, Botswana, Democratic Republic of Congo, Mozambique, Namibia, Pumula East, Bulawayo, Central Mozambique, ” Southern Africa, Maputo
But what if I told you this group shrunk its share count dramatically since 2019? The numbers tell the story: Lennar now has 276 million shares outstanding, down from 318 million five years ago. Other than Toll, most of the homebuilder management teams do not emphasize this fundamental change in share count. Management has been buying hand over fist since 2019, shrinking the share count to 215 million from 264 million. My rather unassailable conclusion is pretty simple: Check the share count before you buy a stock.
Persons: PulteGroup, DR Horton, , Douglas Yearley hadn't, homebuilders, Jim Umpleby, Eaton, Dow, Cummins, Elliott, Marc Benioff, Colette Kress, Williams, Jim Cramer's, Jim Cramer, Jim, Mike Blake Organizations: Federal Reserve, DR, Management, Dick's, Goods, Abercrombie, Fitch, Williams, Walmart, Caterpillar, DuPont, Marathon Petroleum, Elliott Management, Valero Energy, Pacific, Norfolk Southern, CSX, Apple, Microsoft, NFL, Jim Cramer's Charitable, CNBC Locations: tatters, California, Sonoma, America, Williams Sonoma, San Marcos , California
Investors will listen for the central bank's latest perspective on interest rates following the hotter-than-expected CPI and PPI reports this week. As members know, the market is looking for any signs of further disinflation in the housing market as shelter cost inflation remains the Fed's biggest concern. No club names report earnings next week, but we can't wait to see what Nvidia has to show us at its GTC AI developer conference . Other key reports include KB Home on Wednesday, which will provide a real-time look at the state the housing market, unlike the backward-looking housing reports. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: we'll, That's, Jerome Powell's, We're, Jensen, Jim Cramer, Huang, He'll, Lululemon, General Mills, OLLI, LULU, Jim Cramer's, Jim, Jerome Powell, Leah Millis Organizations: Dow, Nasdaq, PPI, Nvidia, Blackwell, CNBC, Micron Technology, Citi, Micron, Broadcom, Nike, FedEx, Music Entertainment, ZTO, Signet Jewelers, SIG, Sportradar, Micron Tech, KB, Worthington Industries, Accenture, Darden, Academy Sports &, Lufax, Brands, Winnebago Industries, Commercial Metals Company, Jim Cramer's Charitable, U.S . Federal, Federal, Market Locations: U.S, California, China, Washington , U.S
Raymond James reiterates Nvidia as strong buy Raymond James said it's bullish heading into Nvidia earnings on Tuesday. Bernstein reiterates Tesla as underperform Bernstein said it's standing by its underperform rating on Tesla as EV growth is slowing. JPMorgan upgrades Dutch Bros to overweight from neutral JPMorgan said the coffee chain has "strong available liquidity" to continue to grow. " JPMorgan downgrades Krispy Kreme to neutral from overweight JPMorgan downgraded the stock mainly on valuation. " Melius initiates Dell as buy Melius Research initiated Dell with a buy and said it's an "inexpensive" way to play AI.
Persons: Wolfe, ChargePoint, Jefferies, it's bullish, Raymond James, it's, Stifel, Wells, Bernstein, Tesla, underperform Bernstein, BTIG, Morgan Stanley downgrades Chegg, Morgan Stanley, LT, Hewlett Packard Evercore, Goldman Sachs, Krystal, Goldman, Penn, Energizer, Sherwin, Williams, Dell, Oppenheimer, OpenAI's Sam Altman, Sam Altman Organizations: Cedar Fair, SIX, Nvidia, Resources, MNR, ARM, Acorn, Apple, JPMorgan, Deutsche Bank, Boeing, Deutsche, Bros, Brands, Hewlett, Krystal Biotech, " Bank of America, of America, ESPN, PENN Entertainment, ESPN Bet, Citi, UBS, Kosmos Energy, Bank of America, CSN, HSBC, Caterpillar, BMO, Wedbush, Research, Microsoft Locations: NVDA, China, ENR, Brazil, Australia, Vale, 2024e
Here are Thursday's biggest calls on Wall Street: Bank of America reiterates Qualcomm as buy Bank of America said it's standing by its buy rating on the stock after its earnings report Wednesday. Citi reiterates Eli Lilly as buy Citi said it sees further upside after the company's earnings report Thursday. RBC downgrades Estée Lauder to sector perform from outperform RBC downgraded the stock after the company's earnings report. Pivotal upgrades Roku to hold from sell Pivotal upgraded the stock after its earnings report Wednesday. " Guggenheim downgrades SolarEdge to neutral from buy The firm said it's "giving up" on its positive stance on the stock.
Persons: RUN's, Taylor Morrison, WK Kellogg, Truist, Amgen, it's, Citi, Eli Lilly, Janus Henderson, underperform KBW, Estée Lauder, F1Q, Bernstein, Hess, CVX, Guggenheim, SolarEdge, Stifel Organizations: Bank of America, Qualcomm, HSBC, Amazon, BMO, Toll, M.D.C . Holdings, JPMorgan, Health, of America, UBS, Eastman Chemical, Citi, Management, RBC, Chevron Locations: Ecommerce, China, U.S
People visit the LG display at the international consumer technology fair IFA in Berlin, Germany September 2, 2022. Mobile display panel orders are concentrated in the second half of the year, when panels for Apple's latest mobile products are produced before the holiday season. Shares in LG Display rose as much as 8% after the earnings result, versus a 0.7% drop in the wider market (.KS11). "LG Display made it clear it will turn to profit. LG Display posted an operating loss of 662 billion won ($491.11 million) for the July-September quarter versus a loss of 759 billion won a year earlier.
Persons: Lisi Niesner, Sung, Kim, Jeff Kim, midsized, Max, 1,347.9600, Joyce Lee, Heekyong Yang, Clarence Fernandez, Jamie Freed, Lincoln Organizations: LG, IFA, REUTERS, Wednesday, Apple, KB Securities, Analysts, Thomson Locations: Berlin, Germany, SEOUL, Korean
Daniel Bustamante, the hedge-fund CIO who won big in his short bet against shares of Carvana last year, is now betting millions of dollars that the housing market will slow significantly. Bustamante's call for home prices is an outlier in terms of where most Wall Street economists see the housing market headed. ATTOMAnother sign that things may go sour in the housing market is that institutional investors, or "smart money", has increasingly stopped buying residential properties, he said. RedfinAgain, Bustamante sees significant downside to home prices ahead. Recession warnings on Wall Street have become quieter in recent months as jobs and consumer spending data have held up.
Persons: Daniel Bustamante, DR, they'll, Bustamante, Bustamante anecdotally, ATTOM Organizations: Bustamante & Co, KB, Federal, National Locations: Carvana, Maricopa County , Arizona
Samsung Q3 profit set to slump 80% as chip losses persist
  + stars: | 2023-10-09 | by ( Joyce Lee | ) www.reuters.com   time to read: +3 min
[1/2] A view shows Samsung Electronics' chip production plant at Pyeongtaek, South Korea, in this handout picture obtained by Reuters on September 7, 2022. The world's biggest maker of memory chips, smartphones and televisions will announce its third-quarter preliminary earnings results on Wednesday. It compares with an operating profit of 10.85 trillion won in the September quarter last year. Analysts said Samsung's cuts to chip production also hurt economies of scale, lifting the costs of making chips. Rival Micron Technology (MU.O) forecast a quarterly loss last month, triggering concerns of a sluggish recovery in the memory chip maker's end markets such as data centres.
Persons: 1,347.1300, Joyce Lee, Jamie Freed Organizations: Samsung Electronics, Reuters, REUTERS, Rights, Analysts, Samsung, Micron Technology, KB Securities, SK Hynix, Nvidia, Thomson Locations: Pyeongtaek, South Korea, Rights SEOUL, Korean, American
In the sports world, betting and gambling startups have started the last two years raising fewer and fewer funding dollars. While funding is harder to come by, startups are also facing changes in the world of sports business and technology. Insider recently released a list of the top VCs investing in sports and asked their founders, CEOs, partners, and directors what they would tell startups trying to break through. Chris GroveKey investments: Acies Investments and EKG Ventures are focused on sports, gambling, and technology. When we invest in a tech company, we have four criteria.
Persons: Tom Loverro, Cole Van Nice, Chris Grove, Chris, you've, There's, Courtside, Tom Brady, Michael Strahan's, Meredith McPherron, Alex Rodriguez, Topgolf Callaway, Brad Farkas, Steve Ahern, Lance Dietz, Craig Thompson, Michael Proman, Proman, Wayne Kimmel, SeventySix, It's, Lloyd Danzig, Sharp Organizations: Elysian Park, Acies Investments, EKG Ventures, Courtside Ventures, of Sports, Elysian Park Ventures, Club, Kinetics, PGA of America, HBSE Ventures, KB Partners, Mindspring, Scrum Ventures, Ventures, Japanese, Boom Entertainment, SeventySix, Vegas Sports Information, Inc, Entrepreneurs, Sharp Alpha Advisors Locations: Chris Grove, Chicago
India's growth prospects have seen many investors and big-name banks turn bullish on the country, but portfolio manager Kamil Dimmich says he's steering clear. Dimmich, who manages the $1.5 billion Pacific North of South Emerging Market All Cap Equity fund, said he is "always looking for great companies with strong cashflows that are not correctly reflected in the market." 'Great value market' One country he is very bullish on is South Korea, which he calls a "great value market." The portfolio manager acknowledged that his love of the South Korean market is an interesting one. And so that has always led the Korean market to be quite cheap because people didn't have much faith," he said.
Persons: Kamil Dimmich, Dimmich Organizations: South Capital, CNBC, P, South Emerging, Equity, LG, KB Financial, Samsung, South Locations: North, India, Japan, South Korea
Here are some of the tickers on my radar for Thursday, Sept. 21, taken directly from my reporter's notebook:Club name StarbucksStifel raised price target on Jabil AppleUpdate on three big recent IPOs: Klaviyo Instacart Arm Holdings (ARM) debuted up nearly 25% last week; then went on a five-session losing streak, falling below $51 offering price early Thursday. Arm Holdings (ARM) debuted up nearly 25% last week; then went on a five-session losing streak, falling below $51 offering price early Thursday. International PaperKB HomesIf you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. Morgan Stanley cuts price target on General MillsBank of America cuts Enphase EnergyMarriottSusquehanna says CarnivalCiti raises price target on SLBCiti research analysts cut their price target on Goldman SachsBarclays raises CSX
Persons: Jim Cramer's, Morgan Stanley, Goldman Sachs Organizations: Starbucks, Holdings, Arm Holdings, General Mills Bank of America, Energy, Susquehanna, Citi, Goldman, Goldman Sachs Barclays, CSX
Cisco Systems , Splunk — Shares of Cisco fell 3.9% Thursday after the company said it is acquiring cybersecurity software company Splunk for $157 per share in a cash deal worth about $28 billion. KB Home posted its fiscal third-quarter report Wednesday evening, reporting earnings of $1.80 per share on revenue of $1.59 billion. Analysts polled by LSEG, formerly known as Refinitiv, called for earnings of $1.43 per share and revenue of $1.48 billion. Broadcom — Shares of Broadcom moved lower by almost 2.7%. Klaviyo — The marketing automation company stock closed Thursday roughly 2.9% higher.
Persons: Rupert Murdoch, Eli Lilly —, Klaviyo, Horton —, PulteGroup, Horton, Zillow, CNBC's David Faber, , Alex Harring, Tanaya Macheel, Samantha Subin Organizations: Broadcom, Cisco Systems, Cisco, KB, LSEG, Fox Corporation, News, News Corp, Broadcom —, Google, CNBC, Klaviyo, New York Stock Exchange, Zillow, FedEx —, FedEx, Paramount, Netflix, Disney, Writers Guild of America, Wednesday Locations: San Jose , California
FedEx — Shares gained more than 5% after fiscal first-quarter earnings results that topped expectations. FedEx reported adjusted earnings of $4.55 per share, greater than the $3.71 forecast by analysts polled by LSEG, formerly known as Refinitiv. Its revenue of $21.7 billion was slightly below expectations of $21.74 billion. KB Home — The homebuilder stock fell more than 3% despite KB Home beating expectations in its third-quarter report. Klaviyo — The marketing automation company stock slid more than 1% after it made its public debut.
Persons: Klaviyo, Exane, CNBC's David Faber, Disney, LSEG, — CNBC's Brian Evans, Jesse Pound, Alex Harring Organizations: FedEx —, FedEx, LSEG, KB, New York Stock Exchange, BNP, Solutions, Starbucks, Netflix, Disney —, Writers Guild of America, Darden Locations: China
Stock futures traded near the flat line Wednesday night as investors parsed through the Federal Reserve's projections made earlier in the day. Futures tied to the Dow Jones Industrial Average were lower by 14 points, or 0.04%. S&P 500 futures were down 0.1%, while Nasdaq 100 futures edged lower by 0.2%. Fed Chair Jerome Powell had commented that a soft landing for the economy was still possible, but not his baseline scenario. During Wednesday's session, the 10-year note reached levels not seen since November 2007, while the 2-year yield hit its highest point since July 2006.
Persons: Jerome Powell, Jimmy Chang, Chang Organizations: Dow Jones, Nasdaq, FedEx, Federal Reserve, Rockefeller Global Family, Treasury
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHome builders traditionally gain market share during periods of low inventory, says KeyBanc's ZenerKenneth Zener, KeyBanc Capital markets analyst, 'Closing Bell Overtime' to talk KB Homes earnings and the real estate market.
Persons: KeyBanc's Zener Kenneth Zener Organizations: KeyBanc Capital
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021. REUTERS/Mike Blake/ Acquire Licensing RightsNEW YORK, Sept 18 (Reuters) - U.S. homebuilder confidence fell for a second month in September, with optimism dropping to the lowest since April as high interest rates cut into affordability for prospective buyers. The National Association of Home Builders/Wells Fargo homebuilder sentiment index fell to 45 this month from a reading of 50 in August, when builder sentiment had fallen for the first time since December. Since the Federal Reserve began hiking interest rates in March 2022, mortgage rates have risen, and have held above 7% since early August, the highest level since 2002. Sales expectations among builders fell in September amid lower pricing, with the six-month outlook for home sales falling to 49 from 55 the month prior.
Persons: Mike Blake, Fargo, , Robert Dietz, Amina Niasse, Andrea Ricci Organizations: KB, REUTERS, National Association of Home Builders, , Federal Reserve, Thomson Locations: Valley Center , California, U.S
Nike, under CEO John Donahoe, continued its total dominance that it had under previous leaders Mark Parker and Phil Knight. I really, really like Starbucks CEO Laxman Narasimhan and we are going to see a very strong executive make decisions now that Howard is gone. Apple weakness just casts a pall over everything. We have had weakness in the banks on fears of more regulation and that's only getting worse. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Let's, John Donahoe, Mark Parker, Phil Knight, It's, Armour, Nike's, Locker, Mary Dillon, Kevin Johnson, Howard Schultz, Schultz, Bob Iger, Robert Chapek —, Johnson, Chapek, Laxman Narasimhan, Howard, Gina Raimondo, Apple —, Stellantis, Joe Biden, Shawn Fain, Safra, Marc Benioff couldn't, LEN, Darden, it's, Jim Cramer's, Jim Cramer, Jim, Bill Pugliano Organizations: Nike, Adidas, Armour, Dick's Sporting, China, Disney, Apple, Micron, Qualcomm, Starbucks, United Auto Workers, Detroit, , Motors, Chrysler, Ford, walkouts, U.S, UAW, Oracle, Marriott, Booking Holdings, Federal, FedEx, KB, Jim Cramer's Charitable, CNBC, General Motors, Big, Getty Locations: China, Europe, American, United States, Oracle's, Detroit , Michigan
The Softbank-owned chip designer's return to the public markets — the largest initial public offering since 2021 — was the highlight of the week. Those are the three things that we'll be focusing on in the week ahead. While struggling to snap back after Covid, China this week reported better-than-expected industrial output and stronger retail sales, signaling that things may be looking up. The United Auto Workers strike against Detroit's three biggest automakers will continue in the week ahead, barring a labor deal. ET: Fed Governor Lisa Cook is set to deliver the keynote address at the NBER's Economics of Artificial Intelligence Conference in Toronto, Canada.
Persons: , Morgan Stanley, Wells Fargo, Jerome Powell's, Jim Cramer, it's, Jim Farley, Stanley Black, Decker, Eli Lilly, Jerome Powell, Mills, Lisa Cook, Jim Cramer's, Jim, Brendan McDermid Brendan Mcdermid Organizations: Nasdaq, Dow Jones, Federal, United Auto Workers, automakers, Fed, West Texas, Saudi, Coterra Energy, Natural Resources, Detroit's, UAW, General Motors, Chrysler, Ford, CNBC, Stanley, Housing, Apogee Enterprise, FedEx, KB, Darden, NBER's, Artificial Intelligence, Jim Cramer's Charitable, Traders, New York Stock Exchange, REUTERS Locations: U.S, Covid, China, WTI, Toronto, Canada, New York City
CNBC's Jim Cramer on Friday gave investors tips for what to focus on during the coming week, highlighting the Federal Reserve's Wednesday decision on interest rate hikes for the rest of the year. Grocery-delivery company Instacart may also release initial public offering pricing Monday night, Cramer said, and Tuesday will bring an earnings report from AutoZone. "When there's a Fed meeting coming up in less than a week and nobody seems worried about it, maybe you want to brace yourself for a little turbulence," he said. On Thursday, Cramer will be looking at Olive Garden owner Darden 's earnings report, which may provide some clarity on whether consumers are spending money dining out. And Friday will mark a week since the United Auto Workers union went on strike against the country's primary automakers.
Persons: CNBC's Jim Cramer, We've, there's, Jay Powell, Cramer, Jerome Powell, I'm, Powell, General Mills, Darden, Shawn Fain Organizations: Disney, ESPN, ABC, Nexstar, AutoZone, FedEx, KB, Fed, Olive Garden, United Auto Workers Locations: Orlando , Florida, General
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