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☆ A Tesla worker who was laid off a month after he joined says he can't pay his rent
▼ + stars: | 2024-04-17 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAn employee who'd been working at Tesla for about a month learned he'd been laid off on Monday, local news station KVUE reported. This includes quietly removing inventory discounts for its EVs in the US, as Tesla investor Sawyer Merritt noted on X.AdvertisementMusk responded, "We are simplifying and streamlining the whole Tesla sales and delivery system. Musk announced his latest moonshot on X earlier this month and said Tesla would launch a self-driving taxi called "Robotaxi," which it would reveal on August 8. Tesla didn't immediately respond to Business Insider's request for comment made outside of normal working hours.

Persons: —, who'd, he'd, Ezekiel Love, Love, Elon Musk, Insider's Grace Kay, Sawyer Merritt, Musk, Dan Ives, Ives, Tesla Organizations: Service, Tesla, EV, Business Locations: Texas

☆ A Tesla worker who was hired and then laid off a month later says he can't pay his rent
▼ + stars: | 2024-04-17 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Tesla laid off more than 10% of its workforce, a memo sent by CEO Elon Musk showed. One worker who lost his job a month after joining Tesla told KVUE he couldn't pay his rent. AdvertisementAn employee who'd been working at Tesla for about a month learned he'd been laid off on Monday, local news station KVUE reported. This includes quietly removing inventory discounts for its EVs in the US, as Tesla investor Sawyer Merritt noted on X.AdvertisementMusk responded, "We are simplifying and streamlining the whole Tesla sales and delivery system. Musk announced his latest moonshot on X earlier this month and said Tesla would launch a self-driving taxi called "Robotaxi," which it would reveal on August 8.

Persons: Tesla, Elon Musk, KVUE, —, who'd, he'd, Ezekiel Love, Love, Insider's Grace Kay, Sawyer Merritt, Musk, Dan Ives, Ives Organizations: Tesla, Service, EV Locations: Texas

☆ Here are Thursday's biggest analyst calls: Nvidia, Costco, Apple, Snowflake, Meta, Nike, Disney, Airbnb & more
▼ + stars: | 2024-04-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Goldman Sachs reiterates Alphabet as buy Goldman said it's sticking with its buy rating following the company's Google Cloud Next event. "We are initiating coverage of Airbnb (ABNB) with a BUY rating and a $190 per share price target." "Following a period of restriction, we are moving to an Overweight rating and a December 2024 price target of $140." "Given the increase in stock price, we believe valuation levels have disconnected from the fundamental outlook." Piper Sandler reiterates Meta as overweight Piper raised its price target on the stock to $600 per share from $525. "

Persons: Evercore, it's bullish, Goldman Sachs, Goldman, Berenberg, TD Cowen, Visa, Oppenheimer, it's, Snowflake, Raymond James, Simona Jankowski, Wells, Morgan Stanley, Moffett, We've, Marsh, Bernstein, Kenvue, underperform Bernstein, Johnson, Needham, Airbnb, CVX, TTE, Piper Sandler, Meta, Piper, Wells Fargo Organizations: JPMorgan, Apple, Mastercard, Barclays, Nasdaq, Nvidia, UBS, Gartner, IT, Deutsche Bank, ATI, Deutsche, Disney, Microsoft, TEAM, " Bank of America, Nike, of America, Citi, Robinhood, MMC, Qualcomm, Johnson, Consumer, Scotiabank, Hamilton Insurance, Costco, ~$ Locations: Albemarle, Chevron

☆ A man was arrested for plotting a 'mass casualty' attack at Elon Musk's Cybertruck launch event, reports say
▼ + stars: | 2023-12-02 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

A 28-year-old man was arrested for planning an attack at Tesla's delivery event in Austin. After his arrest, he said: "I was going to shoot up Elon Musk and the plant," local news reported. AdvertisementA Florida man was arrested this week after he was alleged to have planned a "mass casualty event" at Tesla's Cybertruck promotional event on Thursday. Advertisement"I was going to shoot up Elon Musk and the plant," he reportedly said. When taken into custody Overeem said he believed Elon Musk and Shivon Zilis, a Neuralink director and the mother of twins with Musk, were watching him, CBS Austin added.

Persons: Tesla, Elon Musk, —, Paul Ryan Overeem, Overeem, Polly Thompson, haven't, CBS Austin, Musk Organizations: Service, Tesla, Austin ., NBC, CBS, Travis, Police Department Locations: Austin, Florida, Texas, Travis

☆ Sanofi loses $21 bln in market value after dropping 2025 profit target
▼ + stars: | 2023-10-27 | by ( Ludwig Burger | ) www.reuters.com time to read: +6 min

Under a push to spend more on immunology and inflammation drug development, the company abandoned a target for a 32% operating profit margin for 2025 to focus on "long-term profitability". EPS would see a strong rebound in 2025 but not enough to sustain the previous margin target. CONSUMER STAND-ALONECEO Hudson said the core innovative drugs business had improved enough to soon do without the more predictable cash flows from consumer products. The logo of French drugmaker Sanofi is seen a the Sanofi Genzyme Polyclonals in Lyon, France, September 30, 2023. The timing of the potential consumer listing, which Sanofi said would be in the fourth quarter of 2024 or later, would be set to maximize shareholder value.

Persons: Hudson, Sanofi, drugmaker, Paul Hudson, Terence McManus, Johnson, we've, Gonzalo Fuentes, Roche, Dupixent, Ludwig Burger, Sherry Jacob, Phillips, Mark Potter, Sharon Singleton Organizations: Sanofi, Bellevue Asset Management, Reuters, Barclays, Johnson, GSK, Pfizer, Bayer, Polyclonals, REUTERS, Provention, Merck & Co, Thomson Locations: France, Bellevue, Lyon, Paris

☆ 3 things to watch in the stock market next week as bond yields hover at 2007 highs
▼ + stars: | 2023-10-21 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +12 min

The usual suspects were to blame — rising bond yields, geopolitical tensions, and oil prices — and will hold the keys to the market this coming week. Earnings are one of the three major themes on the marquee next week, with 10 Club companies reporting. Here are the companies: Danaher (DHR), Microsoft (MSFT), Alphabet (GOOGL), Meta Platforms (META), Veralto (VLTO), Honeywell (HON), Linde (LIN), Amazon (AMZN), Ford (F) and Stanley Black & Decker (SWK). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: —, Jerome Powell, Jim Cramer, Jim, Morgan Stanley, Stanley Black, Decker, Danaher, Veralto, it's, Mark Zuckerberg, We're, Vimal Kapur, Linde, Jim Farley, Ford, FactSet, Powell, WTI, Baker Hughes, Edwards Lifesciences, Northrop, CARR, Davidson, Dr Pepper, Phillips, Jim Cramer's, Michael M Organizations: Dow Jones, Nasdaq, Economic, of New, Treasury, West Texas, Procter, Gamble, 10, Microsoft, Honeywell, Linde, LIN, Health Care, Technology, Communications Services, Google, Meta, Ford, Amazon, United Auto Workers, Atlanta, Wall Street, Hamas, Brent, Strategic Petroleum Reserve, Logitech, Verizon, General Electric, GE, RTX Corporation, Halliburton, HAL, General Motors, Dow Chemical, DOW, Xerox, Texas Instruments, F5 Networks, WM, Boeing, Fisher, Mobile, Hilton, General Dynamics, Norfolk Southern, Otis Worldwide, IBM, KLA, O'Reilly Automotive, Mattel, Whirlpool, Gross, Royal Caribbean Cruises, Hershey Company, United Parcel Service, Southwest Airlines, Altria, Northrop Grumman, Valero Energy Corp, Mastercard, Merck, Co, Myers Squibb, Newmont, Tractor Supply Company, Comcast, Seagate Technology, Boston, Hertz, Carrier, Hasbro, Harley, Intel, Grill, United States Steel, Boston Beer Company, Texas, University of Michigan, Exxon Mobil, Chevron, Charter Communications, Colgate, Palmolive, Newell Brands, Sanofi, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: of New York, U.S, Industrials, OpenAI, America, Venezuela, Cleveland, Norfolk, ORLY, Bristol, Brunswick, Oshkosh, New York City

The logo of Johnson & Johnson is seen on a Brussels' office of the company in Diegem, Belgium September 21, 2023. Investors are focused on how J&J, now a standalone pharmaceutical and medical devices company, will reach its goal of $57 billion in drug sales by 2025. Johnson & Johnson recorded a $21-billion gain in the third quarter from the spin-off of its consumer health unit. Stelara, J&J's top-selling anti-inflammatory drug, brought in sales of $2.86 billion in the quarter, above LSEG estimates of $2.61 billion. Excluding its consumer health unit, J&J now expects 2023 adjusted profit of $10.07 to $10.13 per share, compared with its previous outlook of $10.00 to $10.10 per share.

Persons: Johnson, Yves Herman, MedTech, Cantor Fitzgerald, Louise Chen, Stelara, Joseph Wolk, Wolk, J, Bhanvi Satija, Sriparna Roy, Patrick Wingrove, Shounak Dasgupta Organizations: Johnson, REUTERS, Innovative Medicine, Reuters, Thomson, & $, & $ Locations: Brussels, Diegem, Belgium, Stelara, U.S, United States, Bengaluru, New York

☆ 'Mispriced' stocks like this solar name are too attractive to ignore, Bank of America says
▼ + stars: | 2023-09-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Earlier this week, however, the bank lifted its rating to buy from neutral, saying ESAB is too attractive to ignore. "In our view, ESAB is a mispriced asset and the discount to peers is likely to narrow with the upcoming [December] Investor Day as a catalyst," El-Sabbahy wrote. First Solar Analyst Julien Dumoulin-Smith is getting increasingly bullish on shares of the solar company. ESAB "ESAB is executing better than expected (leverage falling, margin expanding, growth outperforming) and we have a renewed appreciation of its portfolio. In our view, ESAB is a mispriced asset and the discount to peers is likely to narrow with the upcoming [December] Investor Day as a catalyst."

Persons: ESAB, Sherif El, Sabbahy, Julien Dumoulin, Smith, BofA, FSLR, Didier Scemama, ASML, Scemama, mgmt, RMD Organizations: of America, CNBC Locations: Swedish, GLP

☆ Monthly Meeting Q&A with Jim Cramer on 20 stocks in everything from tech to health care to retail
▼ + stars: | 2023-09-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +11 min

Jeff Marks: The upcoming earnings report should be good considering how strong the beer business is doing. Jim Cramer: Estee Lauder CEO Fabrizio Freda was adamant that this quarter wouldn't be any good so everyone is selling it. (Ronald) Jim Cramer: There is no pressure that could pull oil down with the Saudi Arabia oil cuts and Russia export cuts. Jeff Marks: These oil stocks have become great hedges to inflation again, much like they were last year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Jeff Marks, Jim Cramer, Johnson, Arbitrageurs, Greg, There's, We're, Elliott Management's, I'd, Elliott, Morgan Stanley, Carey, we've, James Gorman, Jim, Estee Lauder, Fabrizio Freda, there's, Dave Cote, Darius Adamczyk, Vimal Kapur, Darius, hasn't, —, Ronald, Rick, We've Organizations: Investing Club, Broadcom, VMWare, AAA, Constellation Brands, Modelo, Elliott Management, Cisco, Palo Alto Networks, Honeywell, Morgan, Morgan Stanley Laguna, GE Healthcare, Natural Resources, Devon Energy, Halliburton, HAL, Costco, Walmart, Kirkland, CNBC Locations: Canada, Johnson, Mel , Pennsylvania, Manville, New Jersey, U.S, Carey , Virginia, Asia, Kyle , Wisconsin, PANW, Omar , Colorado, Saudi Arabia, buybacks, GEHC

☆ US FDA panel says popular decongestant used in cold medicines ineffective
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 12 (Reuters) - An outside panel of experts to the U.S. Food and Drug Administration on Tuesday refused to back the effectiveness of oral over-the-counter (OTC) medicines made with phenylephrine, an ingredient widely used in cold and cough syrups. The panel unanimously voted against the effectiveness of orally administered phenylephrine as a nasal decongestant, adding that no more trials were required to prove otherwise. The FDA usually follows the recommendations of its expert panel but is not obligated to do so. Phenylephrine was substituted for pseudoephedrine in many non-prescription cold and allergy medicines after the latter was restricted amid reports of abuse.

Persons: Andrew Kelly, Jennifer Schwartzott, Phenylephrine, Mariam Sunny, Devika Organizations: Food and Drug Administration, FDA, REUTERS, U.S . Food, Drug Administration, GSK, Thomson Locations: White Oak , Maryland, U.S, United States, Bengaluru

☆ Acelyrin's skin disease drug trial failure wipes off IPO gains
▼ + stars: | 2023-09-12 | by ( Christy Santhosh | ) www.reuters.com time to read: +2 min

Sept 12 (Reuters) - Shares of drug developer Acelyrin (SLRN.O) on Tuesday erased all gains made since their stellar market debut in May, as the company's experimental lead drug failed to show superiority to placebo in reducing symptoms of an inflammatory skin disease. HS is a chronic inflammatory skin condition that causes painful lumps under the skin. Acelyrin said the trial was hit by early discontinuations as well as better placebo efficacy rates. However, Jefferies analyst Akash Tewari slashed the price target on Acelyrin's stock to $15 from $31, calling the latest data "painfully disappointing." "It's difficult to glean much from the data given how poorly the trial was run.

Persons: Acelyrin, Acelyrin's izokibep, Hidradenitis, Piper Sandler, Jefferies, Akash Tewari, We'll, Christy Santhosh, Saumyadeb Chakrabarty Organizations: Ventyx Biosciences, Apogee Therapeutics, Thomson Locations: Acelyrin, Bengaluru

☆ Deutsche Bank believes this J&J spinoff can rebound by more than 25% in the short term
▼ + stars: | 2023-09-11 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Deutsche Bank says the overselling in Kenvue stock could present an attractive entry point for investors. The firm upgraded shares of the Johnson & Johnson spinoff to buy in a Sunday note, albeit with an unchanged $27 per share price target. Deutsche Bank's forecast implies nearly 27% upside from Friday's $21.30 close. Kenvue stock has slipped more than 15% since going public in May. KVUE YTD mountain Kenvue stock has slipped more than 15% since May.

Persons: Johnson, J, Steve Powers, Powers, — CNBC's Michael Bloom Organizations: Deutsche Bank, Deutsche, KVUE

☆ Here are Monday's biggest analyst calls: Tesla, Apple, Nvidia, Amazon, Microsoft, Block, Netflix & more
▼ + stars: | 2023-09-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan upgrades Tenable to overweight from neutral JPMorgan said the security software solutions company is "well positioned for better fundamentals." JPMorgan upgrades Nubank to overweight from neutral JPMorgan said it sees an attractive entry point for the Brazilian neobank company. JPMorgan downgrades Brunswick to neutral from overweight JPMorgan said higher interest rates will weight on the marine recreation company in the months ahead. Bank of America reiterates Nvidia as a top pick Bank of America said Nvidia shares remain "compelling" at current levels. " Bank of America initiates Raymond James as buy Bank of America said the financial services company is well positioned and has a defensive portfolio. "

Persons: Morgan Stanley, Tesla, Raymond James, RJF, Evercore, Redburn, Bob Iger, Johnson, Jefferies, Bernstein, Brown, Forman, Baird, it's Organizations: supercomputing, Investors, JPMorgan, TENB, Brazilian, Bank of America, CSX, of America, 3Q, JPMorgan downgrades, Nvidia, AMD, Barclays, UBS, Amazon, Netflix, Disney, Deutsche Bank, Deutsche, Citi, Microsoft Citi, Microsoft, Apple Locations: JPMorgan downgrades Brunswick, North America

☆ How breakups impact shareholders, market vs. limit orders — we've got answers
▼ + stars: | 2023-09-10 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Hang tight: You will receive BLCO shares — eventually. A carve-out occurs when a company sells shares in the separated unit into the open market via an initial public offering (IPO). A spin-off is when management distributes shares of the new company to exiting shareholders via a special dividend. A split-off gives existing shareholders the option to receive shares in the new entity in exchange for shares in the parent company. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, — Ted Great, Ted, Hang, Bausch, BHC, it's, Johnson, JNJ, Jim, Brendan Mcdermid Organizations: —, Bausch Health, General Electric, GE, GE HealthCare, GE Verona, CNBC, Kenvue Inc, Johnson, New York Stock Exchange Locations: BLCO, JNJ, New York City, U.S

☆ Here are Thursday's biggest analyst calls: Nvidia, Meta, Apple, Netflix, Roku, McDonald's, Micron & more
▼ + stars: | 2023-09-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Thursday's biggest calls on Wall Street: Barclays initiates Jabil and Flex as overweight Barclays initiated several technology manufacturers Thursday and said it sees margin expansion. Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating on the stock heading into Apple's iPhone event next week. Barclays initiates LPL Financial as overweight Barclays said the financial services company is a "solid organic grower at reasonable valuation." Barclays downgrades Seagate to equal weight from overweight Barclays downgraded Seagate mainly on valuation. Morgan Stanley reiterates Meta as overweight Morgan Stanley said it's staying bullish on shares of Meta.

Persons: Wells, Goldman Sachs, Morgan Stanley, McDonald's, Apple, it's, Jefferies, Canaccord, Johnson, Bernstein, Tesla, underperform Bernstein, Raymond James, Dell, Dan Jedda, Stifel, Riley downgrades Crocs, Riley, Truist, Raymond James downgrades Dave, Buster's, Guggenheim, Meta Organizations: Street, Barclays, JBL, EV, HSBC, Citi, Micron Citi, Micron, Oracle, Johnson, JPMorgan, Netflix, Tesla, DELL, Bank of America, Cloud Computing, LPL, Vail Resorts, Seagate, CyberArk Software Ltd, Meta, Nvidia Locations: 3Q23, Vail

☆ J&J forecasts 12.5% growth in 2023 profit after Kenvue spinoff
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +1 min

Johnson & Johnson company offices are shown in Irvine, California, U.S., October 14, 2020. REUTERS/Mike Blake Acquire Licensing RightsAug 30 (Reuters) - Johnson & Johnson (JNJ.N) on Wednesday forecast 12.5% growth in its annual adjusted profit after completing the separation of consumer health company Kenvue (KVUE.N) . J&J also said it would present its consumer health business as discontinued operations and record a gain of $20 billion in the third quarter as a result of the spinoff. It expects 2023 adjusted reported earnings per share of $10.00 - $10.10, 12.5% higher at the midpoint compared with 2022. Kenvue, which debuted on the New York Stock Exchange in May, has a market capitalization of about $78.9 billion.

Persons: Johnson, Mike Blake, J, Kenvue, Manas Mishra, Devika Organizations: Johnson, REUTERS, New York Stock Exchange, Thomson Locations: Irvine , California, U.S, Bengaluru

☆ A sunken World War 1-era wooden ship potentially the size of a football field was discovered in a Texas river by a man on a jet ski after severe drought revealed the wreckage
▼ + stars: | 2023-08-30 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

The wreckage turned out to belong to a large, wooden ship built during World War 1. The Texas Historical Commission said more than two dozen of these sunken ships are in Texas rivers. Milner sent photos of his find to the local Ice House Museum, which then contacted the Texas Historical Commission. AdvertisementAdvertisementTexas Historical Commission sonar data from 2019 showing the submerged hulls of two of the abandoned World War I vessels in the Neches River. The Texas Historical Commission said in a statement on Facebook that "the summer heatwave and low rainfall" revealed the hidden shipwreck.

Persons: Bill Milner, Milner, Sabine Rivers, Amy Borgens, Sabine, Borgens, Susan Kilcrease, Kilcrease Organizations: Texas Historical Commission, Service, Ice House Museum, The, The Texas Historical Commission, US Shipping Board Emergency Fleet Corporation, Facebook, Ice, US Shipping Board, Emergency Fleet Corporation, Texas Standard, . Texas Historical Commission, US Drought Monitor Locations: Texas, Wall, Silicon, The Texas, Sabine, Beaumont , Texas, . Texas, Beaumont

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Amazon, Splunk, Peloton, Rivian, AMC & more
▼ + stars: | 2023-08-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Goldman Sachs reiterates Nvidia as buy Goldman said it's standing by it's buy rating after Nvidia's strong earnings report on Wednesday. Stifel upgrades Nvidia to buy from hold Stifel upgraded the stock after its strong earnings report Wednesday. Bank of America upgrades Williams-Sonoma to neutral from underperform Bank of America said that the downside scenario is now "off the table" for Williams-Sonoma. Bank of America downgrades Vizio to underperform from buy Bank of America double downgraded the stock on concerns about a weakening consumer. Bank of America downgrades Peloton to neutral from buy Bank of America said it sees "limited visibility on growth initiatives" for Peloton .

Persons: Needham, Rivian, it's, Oppenheimer, Goldman Sachs, Goldman, Morgan Stanley, Wedbush, Johnson, Splunk, Raymond James, Piper Sandler, Piper, Wolfe, Charles Schwab, Bernstein, Estee Lauder, Snowflake, Rosenblatt, Read Organizations: Nvidia, Center, Stifel, AMC, Bank of America, underperform Bank of America, Williams, Sonoma, Vizio, Johnson, Prudential, DFS, ADI Locations: CY2024, Williams, Sonoma, Snowflake

☆ This Johnson & Johnson spin-off could rally more than 20%, Goldman Sachs predicts
▼ + stars: | 2023-08-24 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Investors may want to scoop up newly public company Kenvue on the cheap, Goldman Sachs said. Analyst Jason English upgraded the stock to buy from neutral. "We see compelling relative valuation with an approaching catalyst for a re-rating," English said in a note to clients Wednesday. KVUE .SPX ALL mountain Kenvue vs. the S & P 500 Kenvue, the Johnson & Johnson spin-off sporting brands such as Neutrogena and Tylenol that went public earlier this year, has fallen about 14% from its mid-May peak. In that period, the stock has trailed the S & P 500 by more than 20 percentage points.

Persons: Goldman Sachs, Jason English, Johnson, FactSet, — CNBC's Michael Bloom Organizations: Currency Locations: Wednesday's, KVUE

☆ Nasdaq rallies with Nvidia, tech shares; investors look toward Jackson Hole
▼ + stars: | 2023-08-21 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The technology sector (.SPLRCT) gave the biggest boost to the S&P 500 and Nasdaq, while an index of semiconductors (.SOX) advanced 2.8%. At the same time, she said, investors are anxious to hear Powell's comments at Jackson Hole. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Declining issues outnumbered advancing ones on the NYSE by a 1.44-to-1 ratio; on Nasdaq, a 1.08-to-1 ratio favored decliners. The S&P 500 posted 3 new 52-week highs and 18 new lows; the Nasdaq Composite recorded 36 new highs and 214 new lows.

Persons: Jerome Powell, Quincy Krosby, Jackson, Brendan McDermid, Johnson, Goldman Sachs, Caroline Valetkevitch, Amruta Khandekar, Arun Koyyur, Vinay Dwivedi, David Gregorio Our Organizations: Palo Alto Networks, Dow, Nasdaq, Nvidia, Federal, HSBC, Financial, Treasury, Traders, New York Stock Exchange, REUTERS, Dow Jones, Johnson, VMware, NYSE, Thomson Locations: Wyoming, Charlotte , North Carolina, New York City, U.S, Palo, billings

☆ Nasdaq rallies as Nvidia, tech jump; investors look toward Jackson Hole
▼ + stars: | 2023-08-21 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The technology sector (.SPLRCT) gave the biggest boost to the S&P 500 and Nasdaq, while an index of semiconductors (.SOX) was also up sharply. Nvidia's stock is up more than 200% for the year so far, while the Nasdaq is up nearly 30%. At the same time, she said, investors are anxious to hear Powell's comments at Jackson Hole. According to preliminary data, the S&P 500 (.SPX) gained 30.42 points, or 0.70%, to end at 4,400.13 points, while the Nasdaq Composite (.IXIC) gained 206.65 points, or 1.55%, to 13,497.42.

Persons: Brendan McDermid, Jerome Powell, Quincy Krosby, Jackson, Johnson, Goldman Sachs, Caroline Valetkevitch, Amruta Khandekar, Arun Koyyur, Vinay Dwivedi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Palo Alto Networks, Nasdaq, Nvidia, Dow, Federal, HSBC, Financial, Treasury, Dow Jones, Johnson, VMware, Thomson Locations: New York City, U.S, Wyoming, Charlotte , North Carolina, Palo, billings

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The S&P 500 information technology sector (.SPLRCT), which houses Nvidia, rose 0.7% while real estate (.SPLRCR) and utilities (.SPLRCU) were a drag, down more than 1% each. Declining issues outnumbered advancers by a 2.38-to-1 ratio on the NYSE and a 1.46-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and 18 new lows, while the Nasdaq recorded 27 new highs and 141 new lows. Reporting by Amruta Khandekar and Shristi Achar; Editing by Arun Koyyur and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Thomas Hayes, Jerome Powell, stokes, Dow, Johnson, Goldman Sachs, Amruta Khandekar, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Palo Alto Networks, Broadcom Indexes, Dow, Nasdaq, Nvidia, HSBC, Fed, Great, Capital LLC, Equity Research, Dow Jones, Federal, Federal Reserve, Traders, Reuters Graphics Reuters, VMware, NYSE, Thomson Locations: New York City, U.S, Jackson, Wyoming

☆ J&J to hold 9.5% stake in Kenvue after share exchange offer
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: 1 min

The company logo for Kenvue Inc. Johnson & Johnson's consumer-health business, is displayed on during the company's IPO at the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 21 (Reuters) - Johnson & Johnson (JNJ.N) said on Monday it was expecting to retain a stake of about 9.5% in its newly separated consumer health unit, Kenvue (KVUE.N), after completing a share exchange offer. Shares of the consumer health company rose 1.4% in premarket trading. ‍J&J launched the exchange offer last month under which its stockholders could opt for shares of the former consumer health unit related to the spinoff. Reporting by Bhanvi Satija and Mariam Sunny in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Johnson, ‍, J, Bhanvi Satija, Mariam Sunny, Anil D'Silva Organizations: Kenvue Inc, Johnson, New York Stock Exchange, REUTERS, Thomson Locations: New York City, U.S, Bengaluru

☆ Texas just raised the price of bottled water in prisons by 50% amid one of the state's most extreme heat waves yet
▼ + stars: | 2023-07-30 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +3 min

The Texas Department of Criminal Justice raised the price of bottled water for incarcerated people by 50%. This further limits access to water, as the tap water is often "simply filthy," one prison reform advocate told KVUE. Amid this punishing heat — which is even still milder than last year, during which at least 306 people died of heat-related illness in Texas — the Texas Department of Criminal Justice has raised the price of bottled water available in prisons by 50%, local outlet KVUE reports. Prison reform advocate Amite Dominick told KVUE that adds financial pressure on families where the breadwinner is incarcerated. The Texas Department of Criminal Justice did not immediately respond to Insider's request for comment about water quality in state prisons.

Persons: KVUE, Amite Dominick, Chivas Watson Organizations: Texas Department, Criminal, Service, Texas Tribune, The Texas Department Locations: , Texas, Texas, El Paso , Texas, McAllen , Texas

☆ J&J starts share exchange offer for consumer health spin-off Kenvue
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Johnson & Johnson logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 29, 2019. REUTERS/Brendan McDermid/File PhotoJuly 24 (Reuters) - Johnson & Johnson (JNJ.N) said on Monday it had launched an exchange offer under which its stockholders can opt for shares of Kenvue <KVUE.N>, its newly listed consumer health unit. The exchange will allow J&J shareholders to exchange their shares for those of Kenvue at a 7% discount, subject to conditions. Kenvue, which debuted on the New York Stock Exchange in May, has a market capitalization of about $46 billion. ‍Goldman Sachs and J.P. Morgan Securities are serving as dealer managers for the offering, J&J said.

Persons: Johnson, Brendan McDermid, ‍ Goldman Sachs, J.P, J, Bhanvi, Shounak Dasgupta, Anil D'Silva Organizations: New York Stock Exchange, REUTERS, Johnson, Morgan Securities, Thomson Locations: New York, U.S, Kenvue, Bengaluru

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