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Bank of America reiterates Apple as buy Bank of America is sticking with its buy rating on shares of Apple after its Tuesday iPad event. Bank of America reiterates Rivian as buy Bank of America said it's standing by the EV maker following earnings on Tuesday. " Bank of America initiates Sutro as buy Bank of America said it's bullish on shares of the biotech company. Deutsche Bank upgrades Boston Beer to hold from sell Deutsche upgraded the stock mainly owing to valuation. Bank of America reiterates Nvidia and Micron as buy Bank of America said it's sticking with buy ratings on both Nvidia and Micron.
Persons: Wells, Baird, Apple, Morgan Stanley, NKE, Reddit, Rivian, RIVN, Rosenblatt, Raymond James, it's, Roth, SHLS, Goldman Sachs, Goldman, ZI, YTD, Stephens, Ferrari Organizations: Hexcel Corporation, Old Dominion, Bank of America, Apple, Nike, Citi, Barclays, Disney, Nasdaq, JPMorgan, VMware, Broadcom, Deutsche Bank, Boston Beer, Deutsche, Nvidia, Micron, AMD, ARM, MU, Garden Entertainment, Knicks, Rangers, UBS, Ferrari Locations: Old, Disney, Datadog, RDFN
Slam dunk seasons from the New York Knicks and Rangers should bode well for parent company Madison Square Garden Entertainment , according to Bank of America. While a playoff run may bode well for shares, Madison Square Garden Entertainment could potentially reap an even bigger reward if the teams make it to the championship. This is because a partial playoff run may be accounted for in the forecast but not a longer bid for a championship, Henderson said. MSGE YTD mountain Madison Square Garden Entertainment shares year to date. "We believe MSGE presents an attractive opportunity to own a growth-oriented, pure-play live entertainment company."
Persons: bode, Peter Henderson, Jalen Brunson, Henderson Organizations: New York Knicks, Rangers, Garden Entertainment, Bank of America, Knicks, Radio Locations: Madison
"James Dolan manipulated me, brought me to California to abuse me, and then set me up for a vicious attack by Weinstein," Croft said. "Towards the end of the massage, Dolan pulled Ms. Croft towards him. "On each of these occasions, Dolan made unwelcome advances toward Ms. Croft, and she felt obligated to submit to sex with him." Croft told Dolan that she met Weinstein and that he was "sexually aggressive" with her, and Dolan did not "express any surprise at the news," the lawsuit says. Perry continued: "Mr. Dolan always believed Ms. Croft to be a good person and is surprised she would agree to these claims.
Persons: , masseuse, Jim Dolan, Harvey Weinstein, Dolan, Weinstein, Kellye Croft, James Dolan, Croft, Croft's, Frank Franklin II, Weinstein —, ETIENNE LAURENT, Danya Perry, Perry, Mr, Douglas Wigdor, Wigdor, Jennifer Bonjean Organizations: Service, Business, Garden Entertainment Corp, New York Knicks, New York Rangers, Attorneys, Eagles, JD, Azoff Company, NBA, Toronto Raptors, AP, Getty Locations: Madison, California, Miami, Los Angeles, New York, Dolan's, Angeles
A woman has alleged that New York Knicks owner James Dolan sexually assaulted her a decade ago and then set her up to be molested by now-imprisoned film producer Harvey Weinstein, according to a federal lawsuit filed Tuesday in Los Angeles. When the tour traveled to Los Angeles, Dolan flew Croft there even though almost no tour members signed up for massage appointments, the lawsuit states. When she told Dolan of the alleged attack, he neither seemed surprised nor offered to help her report the assault to police, she alleges. Croft alleges that Dolan knew about Weinstein's misconduct toward women and told her "we all know" that Weinstein "has problems." Weinstein is currently serving a 23-year sentence for a rape and sexual assault conviction in New York that is under appeal.
Persons: James Dolan, Harvey Weinstein, Kellye Croft, Dolan, Croft, Weinstein, Danya Perry, Perry, Adam Silver, Silver, Jane Doe, Mr, Jennifer Bonjean, Anucha Browne Sanders, Isiah Thomas . Dolan, Thomas, Browne Sanders, David Stern, Charles Oakley Organizations: New York Knicks, The Eagles, JD, Associated Press, Madison, Garden Sports Corp, Knicks, NHL's Rangers, NBA, Garden, longtime Knicks, Madison Square Garden Entertainment, MSG, New York's Arts, Cultural Affairs Locations: Los Angeles, New York, Italian, Madison
LOS ANGELES (AP) — A woman has alleged that New York Knicks owner James Dolan sexually assaulted her a decade ago and then set her up to be molested by now-imprisoned film producer Harvey Weinstein, according to a federal lawsuit filed Tuesday in Los Angeles. When the tour traveled to Los Angeles, Dolan flew Croft there even though almost no tour members signed up for massage appointments, the lawsuit states. Weinstein is currently serving a 23-year sentence for a rape and sexual assault conviction in New York that is under appeal. The disgraced movie mogul also was found guilty in 2022 in Los Angeles and later sentenced to 16 years for the rape and sexual assault of an Italian actor and model known at the trial as Jane Doe 1. The Los Angeles case is also under appeal.
Persons: , James Dolan, Harvey Weinstein, Kellye Croft, Dolan, Croft “, Croft, Weinstein, Weinstein “, , ” Dolan, Danya Perry, “ Kellye Croft, ” Perry, Adam Silver, Silver, Jane Doe, Mr, Jennifer Bonjean, Anucha Browne Sanders, Isiah Thomas . Dolan, Thomas, Browne Sanders, David Stern, Charles Oakley, __ Mahoney, Beth Harris Organizations: ANGELES, New York Knicks, The Eagles, JD, Associated Press, Madison, Garden Sports Corp, Knicks, NHL’s Rangers, NBA, Garden, longtime Knicks, Madison Square Garden Entertainment, MSG, New York’s Arts, Cultural Affairs Locations: Los Angeles, New York, Italian, Madison, Inglewood , California
Glenn Youngkin (L) looks on during the announcement of a new sports arena for the Washington Wizards NBA basketball team and Washington Capitals NHL hockey team, on December 13, 2023 Virginia. Win Mcnamee | Getty Images News | Getty ImagesTed Leonsis, the owner of the NBA's Washington Wizards and the NHL's Washington Capitals, has a grand vision for growing a regional sports empire. Glenn Youngkin announced that the Capitals and Wizards have agreed to move to a new arena in Alexandria, Virginia, as part of a $2 billion entertainment complex in 2028. How will they compete with big market teams? "We could have a billion-and-a-half-dollar revenue run rate and a $10 billion to $15 billion trend of valuation," Leonsis said.
Persons: Ted Leonsis, Glenn Youngkin, Win Mcnamee, Leonsis, we'll, aren't, I'm, it's, It's, David Rubenstein, David Blitzer, Blackstone, James Dolan, Stan Kroenke, Kroenke, I've Organizations: Monumental Sports, Entertainment, Virginia Gov, Washington Wizards NBA, Washington Capitals NHL, Getty, Washington Wizards, NHL's Washington Capitals, CNBC, Summit, Washington , D.C, AOL, Capitals, Wizards, Washington Mystics, Capital, D.C, Sports, Mystics, NHL, Baltimore Orioles, Washington Nationals, MLB, Carlyle Group, Bloomberg, Orioles, Red Sox, Fenway Sports Group, Boston Red Sox, Pittsburgh Penguins, Premier League's Liverpool, Philadelphia 76ers, New, New Jersey Devils, Washington, Cleveland Guardians, MSG, Sphere Entertainment, Madison Square Garden Entertainment, New York Knicks, Rangers, MSG Networks, Atlanta Braves Holdings, Liberty Media, Sports & Entertainment, Nuggets, Avalanche, Los Angeles Rams, Premier League's Arsenal FC, Qatar Investment Authority, MSG Sports, NHL's Rangers, NBA's Knicks, Phoenix Suns, NBA, Ottawa Senators, Braves Locations: Virginia, Alexandria , Virginia, Washington ,, Washington, London, Richmond, Delaware, New Jersey, Real Salt Lake, Denver, MLS's Rapids, Colorado, Monumental
It's time to look at value stocks as growth names will have a difficult 2024, according to Ariel Investments' John Rogers. "I think the top of growth stocks is coming," Rogers told CNBC's Scott Wapner at the CNBC CFO Council Summit in Washington, D.C. "I really, really do." Instead, the investor is bullish on value names as the gap in performance between growth and value widens. The value manager said growth stocks could continue to outperform in a falling interest rate environment. The investor is bullish on stocks tied to the housing sector.
Persons: Ariel, John Rogers, Rogers, CNBC's Scott Wapner Organizations: Ariel Investments, CNBC, Summit, Russell, Mohawk Industries, Paramount Global, Paramount, Garden Entertainment, CNBC PRO Locations: Washington ,, Madison, Caribbean
Madison Square Garden Entertainment's plans to build another Sphere in London were blocked. The Sphere in Las Vegas is "so bold and bright you can see it from space," its website says. MSG opened its first dome-shaped entertainment venue in Las Vegas last month, where U2 is holding a residency . A spokesperson for Sphere Entertainment told BI in a statement: "While we are disappointed in London's decision, there are many forward-thinking cities that are eager to bring this technology to their communities. The Las Vegas dome has a wraparound LED screen and 168,000 speakers.
Persons: , Sadiq Khan, Khan, Sadiq, concertgoers Organizations: Service, Madison Square Garden Entertainment, Khan, MSG, Sphere Entertainment Locations: Madison, London, Las Vegas, Las
Sphere Entertainment soared 17% on Monday after opening weekend of the Sphere concert venue. AdvertisementAdvertisementSphere Entertainment stock soared as much as 17% on Monday after its Sphere concert venue successfully completed its opening weekend with a U2 concert. The Sphere entertainment venue is located in Las Vegas and boasts 1.2 million LEDs about the size of hockey pucks on its exterior. The interior LED screen has a picture clarity of 16k, making it the largest and highest-resolution LED screen in the world. The Sphere venue has a seating capacity of just under 18,000.
Persons: , Paul Golding Organizations: Service, Entertainment, Macquarie, Sphere Entertainment, Madison Square Garden Entertainment Locations: Las Vegas, Madison, New York
Check out the companies making headlines in midday trading. Sphere Entertainment — Shares of the media and entertainment company climbed 11.1% in midday trading after a U2 show debuted its Las Vegas Sphere venue Friday night. Bitcoin stocks — Stocks tied to digital currency trading advanced in lockstep with a rally in crypto prices. Instacart — Maplebear, the food delivery company doing business as Instacart, fell 9.2% in midday trading. The Wall Street bank said investors should buy the dip after the stock's underperformance in the first half of 2023.
Persons: — Stocks, MicroStrategy, , — Maplebear, Gordon Haskett, Insulet, Jefferies, Goldman Sachs, Goldman, Truist, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox, Sarah Min, Scott Schnipper Organizations: Madison Square Garden, , Riot, Marathon, Discover Financial, U.S . Securities, Exchange, Federal Deposit Insurance Corporation, Coeur Mining, Hecla Mining, Harmony, Mining, Gold Resource, Barclays, Norfolk Southern, Bank of America, Nvidia —, Nvidia, Apple, JPMorgan, UBS Locations: Las Vegas, lockstep, Coeur, Wall
Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating after Apple's iPhone event Tuesday. F (Buy) earnings more resilient than appreciated driven by Pro business." Morgan Stanley reiterates Darden as overweight Morgan Stanley said it's bullish heading into the owner of Red Lobster's earnings next week. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's standing by its recent upgrade of the stock despite investor pushback. TD Cowen reiterates FedEx as outperform TD Cowen said it's cautiously optimistic heading into FedEx earnings next week.
Persons: Morgan Stanley, Apple, it's, BEV, Darden, Red, Commerce Max, Tesla, pushback, Michael Kors, Guggenheim, TD Cowen, Hershey, Cowen, Bernstein, Roth, Roth MKM, BTIG, Lennar, F3Q, Needham Organizations: JPMorgan, UBS, Ford, General Motors, Pro, Citi, Commerce, JPMorgan downgrades Oracle, WWE, UFC, Holdings, NYSE, Microsoft, FedEx, " Bank of America, Garden Entertainment, Bank of America, YouTube Locations: China, Capri, Lennar, GOOGL
Bank of America thinks Madison Square Garden is one of the best plays in the live entertainment sector, and investors need to capitalize on it. The firm initiated the stock on Tuesday with a buy rating, accompanied by a $41 per share price target. "Post its spinoff from Sphere, we view MSGE—owner of iconic venues including Madison Square Garden and The Chicago Theatre—as an attractive opportunity to own a growth-oriented, pure-play live entertainment company," Henderson said. Madison Square Garden stock has slipped nearly 19% in the past three months alone, according to FactSet. MSGE YTD mountain Madison Square Garden Entertainment in 2023.
Persons: Peter Henderson, Henderson, — CNBC's Michael Bloom Organizations: of America, Madison, Garden, Chicago Theatre, Madison Square Garden, Garden Entertainment Locations: New York City, Madison
Bank of America reiterates Lululemon as buy Bank of America said it's standing by its buy rating on the stock heading into earnings next week. Bank of America adds Jazz Pharmaceuticals to the US1 list Bank of America added the pharmaceutical company to its top picks list. "We initiate coverage of The Madison Square Garden Entertainment Co. (MSGE) with a Buy rating and a 12-month price objective (PO) of $41, implying ~30% potential upside." Bank of America initiates Gulfport Energy as buy Bank of America said the energy company is undervalued. Stifel reiterates Bowlero as buy Stifel said it's standing by its buy rating on the bowling company.
Persons: Morgan Stanley, Lululemon, LULU, Bernstein, Emerson, Raymond James, Apple, it's, Stifel, Jefferies, Goldman Sachs, JEF Organizations: Bank of America, Jazz Pharmaceuticals, Inc, UBS, GXO Logistics, Mobility, RBC, JPMorgan, Emerson, Mizuho, Edison, FOUR, Apple, Nvidia, AppLovin, Garden Entertainment, The, Garden Entertainment Co, Energy, Xcel Energy, Minnesota & Locations: China, The Madison, Minnesota, Minnesota & Colorado
Macy's said it expects adjusted earnings per share between $2.70 and $3.20, adding it sees comparable store sales falling between 6% and 7.5%. The company reported earnings of $4.56 per share, versus the $4.49 expected by analysts surveyed by Refinitiv. AppLovin – The marketing stock rose 1.5% to a 52-week high following a Jefferies upgrade to buy from hold. Zoom Video – Shares of the video communications platform lost about 2% even after the company posted better-than-expected second-quarter results. Aramark — The food service stock rose about 2%.
Persons: Dick's, Macy's, Lowe's, Charles Schwab —, Charles Schwab, AppLovin, Jefferies, Stephen Tusa, Emerson, AspenTech, Fabrinet, Seamus Grady, Aramark, , Alex Harring, Yun Li, Hakyung Kim, Brian Evans, Michelle Fox, Sarah Min Organizations: Dick's, Goods, Revenue, Refinitiv . Revenue, Bloomberg, American Airlines –, American Airlines, Baidu, Microsoft, Activision, Activision PC, Jefferies, Emerson, JPMorgan, Garden, Bank of America, UBS Locations: Madison
Here are Friday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating on shares of Apple. JPMorgan reiterates Netflix as overweight JPMorgan said it's standing by its overweight rating on Netflix shares. Morgan Stanley upgrades DigitalOcean to equal weight from underweight Morgan Stanley said in its upgrade of the software company that its thesis on DigitalOcean has largely played out. Morgan Stanley reiterates Carvana as underweight Morgan Stanley said the company still has "alot to prove." Wells Fargo reiterates Chevron as overweight Wells said it's standing by its overweight rating on shares of Chevron.
Persons: Morgan Stanley, Apple, it's, hasn't, pushback we've, Mizuho, Coinbase, Redburn, DigitalOcean, Nio, Carvana, Wells, Wells Fargo, BJ, JPMorgan, Krispy Kreme, Krispy, Stephens, Wolfe downgrades Stanley Black, Decker, Wolfe, Argus Organizations: Apple, iPhone, Services, JPMorgan, Netflix, ARM, Walmart, Credit Suisse, HOOD, " Bank of America, Oncology, Bank of America, Citi, Cisco Citi, Cisco, Arista, Juniper, Enterprise, Deutsche Bank, Deutsche, Chevron, FedEx, Garden Entertainment Locations: Coinbase, 2Q, HOOD
John Rogers' 40-year career at Ariel Investments is one marked by steady and stable performance, fueled by an eye for bargains in times of turmoil. The Ariel Fund that Rogers has managed since its inception in 1986 has racked up returns of almost 11% a year, according to Morningstar. Ariel managed $16.2 billion at the end of 2022. The Princeton grad is a value investor, who follows Warren Buffett's style of investing. He believes that value investing is making a comeback after growth stocks enjoyed a dominant decade during the last bull market.
Persons: John Rogers, Rogers, Morningstar, Ariel, Mellody Hobson, Warren Organizations: Ariel Investments, Ariel, Princeton, Garden Entertainment, Boyd Gaming Corp, Federal Reserve Locations: Chicago, Caribbean, Madison
JPMorgan downgrades Okta to neutral from overweight JPMorgan Chase said it sees too many macroeconomic pressures for the company. " JPMorgan downgrades Target to neutral from overweight JPMorgan Chase said in its downgrade of the stock it sees a "weakening" consumer. Bank of America initiates Toast as buy Bank of America said the restaurant tech company is "best in class." JPMorgan upgrades Domino's Pizza to overweight from neutral JPMorgan Chase said in its upgrade of Domino's that it's too cheap to ignore. Bank of America reiterates Dick's as buy Bank of America said it's bullish on the company's new store format.
Persons: Goldman Sachs, Goldman, Johnson, it's, Salesforce, JPMorgan downgrades, JPMorgan Chase, we've, Horton, PulteGroup, TOST, BorgWarner, Morgan Stanley, Tesla, XOM, Cowen, Phillips, Wedbush, Macquarie, Dick's, it's bullish, DKS Organizations: AAP, Barclays, JCI, RBC, Chevron, JPMorgan, JPMorgan downgrades Target, Deutsche Bank, " Bank of America, Bank of America, Restaurant Association, BorgWarner Deutsche Bank, Citi, Meta, ExxonMobil, UBS, CSX, Garden Entertainment, Knicks, Rangers, Networks Locations: Europe, New York
Disney 's ESPN wants to be the hub for all live sports streaming — even for its competition. Still, ESPN has broached the idea to the major sports leagues and media companies to gauge their enthusiasm, the people said. If a customer already subscribes to a given service, ESPN would collect no money and just provide the link as a courtesy, people familiar with the matter said. ESPN may also alert users to games that air on linear TV, cementing its new role as the TV guide of live sports, the people said. Discovery has alerted leagues it plans to exit the RSN business altogether, according to The Wall Street Journal.
CNN —The chief executive of the Madison Square Garden Entertainment Corporation has doubled down on using facial recognition at its venues to bar lawyers suing the group from attending events. “At Madison Square Garden, if you’re suing us, we’re just asking of you – please don’t come until you’re done with your argument with us,” he said. Madison Square Garden and Radio City Music Hall are world-renowned venues and should treat all patrons who purchased tickets with fairness and respect. Madison Square Garden is the home of the New York Knicks, Rangers, professional boxing, and college basketball teams. What facial recognition does is looks at, you know, recognizes your face, and says you know, are you someone who’s on this list.”Dolan claimed the State Liquor Authority has threatened MSG’s license over its use of facial recognition technology.
New York Attorney General Letitia James is requesting information from Madison Square Garden Entertainment Corp. related to its alleged use of facial recognition technology to prevent certain ticketholders from entering its venues. The state attorney general’s office said Wednesday that the company, which operates well-known New York venues including Madison Square Garden and Radio City Music Hall, has reportedly used the technology to bar entry for lawyers who are currently suing it over unrelated matters.
New York Attorney General Letitia James wants to hear from Madison Square Garden Entertainment Corporation about the company's reported use of facial recognition technology at its venues. MSG Entertainment owns and operates venues across New York including Radio City Music Hall, Madison Square Garden and the Hulu Theater. "MSG Entertainment cannot fight their legal battles in their own arenas," James said Wednesday in a release announcing her letter. "Anyone with a ticket to an event should not be concerned that they may be wrongfully denied entry based on their appearance, and we're urging MSG Entertainment to reverse this policy." MSG Entertainment did not immediately respond to a request for comment on the letter.
The Radio City Rockettes perform onstage during the opening night of the 2019 Christmas Spectacular Starring The Radio City Rockettes at Radio City Music Hall on November 13, 2019 in New York City. Kelly Conlon and her daughter came to New York City the weekend after Thanksgiving as part of a Girl Scout field trip to Radio City Music Hall to see the Christmas Spectacular show. But while her daughter, other members of the Girl Scout troop and their mothers got to go enjoy the show, Conlon wasn't allowed to do so. They had identified and zeroed in on her, as security guards approached her right as he got into the lobby. "I was just a mom taking my daughter to see a Christmas show," Conlon told the I-Team.
Netflix — Netflix tumbled more than 9% following a report from Digiday that said the streaming stock's early-stage advertising business is missing viewership targets. Verizon , AT&T — The communication technology stock added 1% after Morgan Stanely upgraded it to overweight from equal weight, saying its shares were attractive compared with historical levels. AT&T shares fell more than 2% following a separate downgrade from Morgan Stanley that cited the stock's recent outperformance. Madison Square Garden Entertainment — Shares rose more than 2% after Morgan Stanley upgraded the stock to equal weight from underweight. Lockheed Martin — Shares dropped 1.5% after Morgan Stanley downgraded the stock from overweight to equal weight, saying its outperformance should somewhat cool in 2023.
AMC Networks told its employees Tuesday that it is planning significant layoffs, according to a memo obtained by CNBC and people familiar with the matter. In recent years, AMC Networks has been seen as an acquisition target for larger media companies. We have directed the executive leadership of AMC Networks to undergo significant cutbacks in operations. These will include a large-scale layoff as well as cuts to every operating area of AMC Networks. We are confident that AMC Networks will come through this even stronger.
Here are Tuesday's biggest calls on Wall Street: Loop reiterates Apple as buy Loop said it sees macro headwinds building for Apple. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said investors should buy the dip in shares of Tesla. Morgan Stanley names CBOE a top pick Morgan Stanley said the global markets company has a compelling entry point. Barclays reiterates Amazon as overweight Barclays said it sees a favorable risk/reward for Amazon shares right now. " AMZN shares remain out of favor heading into peak holiday season owing to its sub-seasonal revenue guide and AWS deceleration."
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