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To Cramer, McDonald's earnings' disappointed last week because its products have become too expensive. He said consumers no longer consider the burger chain to have bargain prices, something the the company could be reluctant to admit. Cramer also said Starbucks ' coffee may be too expensive, adding he's disappointed management doesn't seem to be talking about rolling back prices. Cramer also discussed how Dollar General and Dollar Tree might shape up against outfits like Walmart and Costco . McDonald's, Starbucks, Target, Dollar General, Dollar Tree and Costco did not immediately respond to requests for comment.
Persons: CNBC's Jim Cramer, Cramer, doesn't Organizations: Nordstrom, Walmart, Costco, Starbucks, Target
AI trade: Market gains accelerated since the Morning Meeting, with both the Nasdaq Composite and S & P 500 rising to new all-time highs. Casino stocks : Wynn shares and other Macao gaming stocks fell after the region's Gaming Inspection and Coordination Bureau reported February gross gaming revenue (GGR). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Salesforce, Consumer Staples, Locker, Wynn, Stifel, Jim Cramer's, Jim Organizations: CNBC, Market, Nasdaq, Dell Technologies, Dell, Semiconductor, Energy, Tech, Consumer, Palo Alto Networks, Broadcom, Bausch Health, GE Healthcare, Health Care, Apple, Wynn Resorts, Wynn, Jim Cramer's Charitable Locations: U.S, China, Macao
A hotter-than-expected consumer price index on Tuesday sent stocks reeling, with the Dow posting its biggest drop in a year. Stocks bounced back over the next two days, helped by a softer retail sales report , only to slump again on Friday's hot producer price index for January. As we said this week, we're not overly concerned with the hotter-than-expected inflationary readings. Earnings season picks back up for the Club next week, with four holdings set to report quarterly results. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Wall, Stocks, we're, Palo, Fortinet, BCH's Bausch, Management doesn't, Dana, Bausch, Dr Pepper, Diana Shipping, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Walid Berrazeg Organizations: Dow Jones Industrial, Nasdaq, Dow, Federal Reserve, Club, Palo Alto, Palo, billings, Nvidia, Amazon, Microsoft, Bausch Health, Coterra Energy, Management, NYSE, Walmart, Axsome Therapeutics, Barclays Bank, Armstrong World Industries, Ceragon Networks, Tri Pointe Homes, Dana Incorporated, DigitalBridge, Oil States International, Systems, Allegion, CenterPoint Energy, Equitrans Midstream Corporation, Expeditors International of Washington, Alto Networks, SolarEdge Technologies, Enovix Corporation, Caesars Entertainment, Diamondback Energy, Toll, Ternium S.A, Celanese Corp, Chesapeake Energy, CVR Energy, Reserve, Vertiv Holdings Co, Properties Trust, Devices, HSBC Holdings plc, HSBC, Lomb, Sinclair Corporation, Pagaya Technologies, Gibraltar Industries, Garmin, NVIDIA, Rivian Automotive, Sunnova Energy International, Bros, Apache, Oil, Suncor Energy, Co, FNF, Sciences, Coeur D'Alene Mines, Trip.com, Joby Aviation, Resources, Alamos, Jackson, Nutrien, NTR, Pan, Sm Energy Company, Health, Newmont, Nikola Corporation, Cheniere Energy, Fiverr, Natural Resources, Point Credit, Lantheus Holdings, Builders, Grab Holdings, NICE, Dominion Energy, Harmony Biosciences Holdings, Teck Resources Limited, Intellia Therapeutics, Energy, Booking Holdings, Intuit, Semiconductor, Nation Entertainment, Vale S.A, Rocket Companies, Warner Bros ., AerCap Holdings, Natural Holdings, Calumet Specialty Products Partners, Frontier Communications, Jim Cramer's Charitable, CNBC, Lightrocket, Getty Locations: billings, Palo Alto, China, Xifaxan, Tri Pointe, Avista, Gibraltar, Coeur D'Alene, Pan American, Teck, Vale
Let 'em ride: Several of 2023's best-performing stocks were grossly undervalued at the beginning of the year. So while investors recognized the company could deliver massive earnings and free cash flow, they were afraid Zuckerberg had gone off the reservation. The stock sports topline growth, substantial margins, a strong balance sheet, substantial free cash flow, and a moat around its business. It's time to hedge some of those gains (or take profits): The second best-performing stock in the Russell 1000 for 2023 is Coinbase (COIN) . If you own, but don't want to sell, consider purchasing the March $45/$35 put spread as a particle hedge, as illustrated below.
Persons: David Ricardo, Ricardo, Mark Zuckerberg, Zuckerberg, doesn't, Russell, cryptocurrencies, aren't, Equifax Organizations: Russell, Vertiv, Builders, Topbuild Corp, Nvidia, Investors, MU, Walmart, Visa, Mastercard, Paypal, Experian, PayPal, Palantir Technologies, Government Locations: uptrends
It was going to really take me to that next level and lead me to my dream job. So I was like, "Wow, I'm going to work for Amazon. I'm going to put you into a Pivot program." Well of course I'm going to leave because I'm not that stupid. I lost $110,000 that there's no way I'm going to get back.
Persons: , I'm, TAMs, we're, he'd, wasn't, I've, Slack, I'd, that's Organizations: Amazon, Service, Amazon Web Services, LinkedIn, TAM
An LA-based tech worker told Insider they stay at their job because it's convenient. The job is convenient because I can work remotely from my home in LA, but otherwise, I'm a "grumpy stayer" because I'm not completely happy with my work situation. HR and the executive team don't like that I'm an advocate and likely see me as grumpy or difficult, but I don't care. Leaving one mediocre job for another feels pointless, and I don't expect better working conditions. I'm a grumpy stayer because the economy is too crazy to return to full-time freelance.
Persons: I've, I'm, doesn't, we've, didn't, It's, — she's, they're Organizations: Management, Morning Locations: LA, New York
Shares of Foot Locker plunged more than 30% in Wednesday's trading. FL .SPX YTD mountain Foot Locker vs. S & P 500 year to date Bottom line As noted during Monday's Homestretch , we thought this would be a horrible quarter from Foot Locker. As a result, inventory remains way too high at Foot Locker, and in a worst-case scenario --management may need to tap into its credit lines. Overall same-store sales, while in line, were dragged down by Champs Sports in North America, which saw a 25.3% decline. A sign hangs above the entrance of a Foot Locker store on August 02, 2021 in Chicago, Illinois.
Persons: Locker, Monday's Homestretch, Mary Dillon, Dillon, Foot, Jim Cramer, we've, Locker's, Jim Cramer's, Jim, Scott Olson Organizations: Management, Champs Sports, Nike, Administrative, EMEA, CNBC, Getty, & $ Locations: North America, Middle East, Africa, Asia, Chicago , Illinois
Shares of Estee Lauder (EL) fell nearly 3% on Friday after the cosmetics company delivered weaker-than-expected guidance for the coming year. The midpoint of management's guidance for full year net sales growth is 6%, implying about $16.86 billion. Management expects first-quarter sales to decline 11% at the midpoint, implying sales of $3.5 billion, well below the $3.94 billion estimate. Analysts were looking for Estee Lauder to make a combined total of $3.58 per share in that time frame. An Estee Lauder pop-up store is seen inside daimaru Department Store on Nanjing Road Pedestrian street in Shanghai, China, August 6, 2021.
Persons: Estee Lauder, reaccelerate, Jim Cramer's, Jim Cramer, Jim Organizations: Refinitiv, Management, CNBC, daimaru, Getty Locations: Asia, Pacific, China, Hong Kong, Hainan, Americas, America, Brazil, Mexico, United States, Nanjing, Shanghai
But one of the most anxiety-inducing types of colleagues is the "workplace vigilante." A workplace vigilante is a sort of hall monitor of the office. "And most people think that, but it's much stronger and more rigid [in a workplace vigilante]." "They are people who really want to have some kind of control or authority," she says. Being in the office with a workplace vigilante can make you dread coming in at all.
Persons: Botthersome, Katy DeCelles, Dwight Organizations: University of Toronto, Employees
Second quarter guidance is light, but guidance is unchanged for the year. Traders are "not sure they should be leaning into, or out of, the market," Craig Johnson at PiperSandler tells me. One of the favorite indicators traders like to use is the "pain trade." "The pain trade is up," Johnson, a chief market technician, tells me. "Everyone is negatively positioned; the real risk is they get caught offsides and the market moves higher."
[1/2] Picketers gather and march downtown as approximately 155,000 public sector union workers with the Public Service Alliance of Canada (PSAC) continue to strike, in Ottawa, Ontario, Canada April 24, 2023. For the 155,000 Public Service Alliance of Canada (PSAC) on strike, the main sticking point is wages. "If they do get the remote work language in the collective agreement, then others will be inspired to do the same." PSAC, which names remote work as its second priority after wages, said on its website that it is time to look to the future "by enshrining remote work protections" into collective agreements. On Tuesday the Treasury Board said remote work remained a sticking point.
Big bank earnings are behind us. Investment banks Goldman Sachs (GS) and Club holding Morgan Stanley (MS) are the two pure-play investment banks we care about. Third place was tight, but the combination of better earnings growth and a significantly better ROTCE made Bank of America (BAC) the better performer. Sizing up bank valuations Morgan Stanley is currently trading at a premium at 13.7 times forward earnings, compared to 10.3 for GS. Morgan Stanley Chairman and Chief Executive James Gorman speaks during the Institute of International Finance Annual Meeting in Washington, October 10, 2014.
Only a decade ago, bank runs happened at a much slower pace. The era of digital bank runsOne thing the past few weeks has made clear is that bank runs now unfold differently, especially for smaller banks that service specialized sectors. "Bank runs are evolving into a different and much more dangerous beast because they happen faster," Baker said. By comparison, on March 9, SVB lost $42 billion in a day — and it was a smaller bank, Baker added. Long said she warned regulators again after FTX collapsed that banks servicing the crypto sector face the danger of bank runs.
SVB found old concentration risk
  + stars: | 2023-03-10 | by ( ) www.reuters.com   time to read: +2 min
NEW YORK, March 10 (Reuters Breakingviews) - Silicon Valley Bank’s closure on Friday by California authorities is a reminder of an old lesson: Don’t put too many eggs in one basket. The bank, owned by SVB Financial (SIVB.O), counted half of all U.S. venture capital-backed startups as clients. When tech took a disproportionate hit from the recent inflationary downturn, clients burned through savings, pulling out their deposits. SVB focused on tech, but its downfall is an old story of concentration risk. The eggs in the basket cracked, and in 1988 alone, 175 Texan banks, accounting for 25% of the state’s banking assets, failed.
Fourth-quarter earnings season is in the rearview mirror and most Club stocks reported results ahead of, or in line with, analysts' forecasts. Moreover, excluding foreign exchange fluctuations, this marked the ninth quarter in a row of 20% or better annual earnings growth. Nvidia (NVDA) reported a very strong quarter and better-than-expected guidance for the current quarter . Eli Lilly 's (LLY) fourth-quarter results came up a bit short on revenue but delivered a strong bottom line. Despite missing on top-line expectations, Wells Fargo 's (WFC) earnings came in better-than-expected, as the bank realized the benefits of higher interest rates .
After factoring in tonight's move lower, Costco shares have gained roughly 3.3% year-to-date, compared to a 3.7% increase in the S & P 500 . While it's a positive development to see Costco's margins expand from last year, it's also important to note that management doesn't run the business for profit margins. On the post-earnings conference call with analysts and investors, Costco management broke down all the levers of the quarterly margin performance. Costco's 2% reward program was a two-basis-point headwind on both sides due to more sales coming from Costco's executive members. February sales Alongside its fiscal second-quarter results Wednesday, Costco provided comparable sales for the four-week period ended Feb 26.
The PPI data comes two days after a slightly hotter-than-expected consumer price index for last month. Cloud communications platform Twilio (TWLO) finally makes the pivot to emphasize profitability and the stock gets rewarded ... up 9% early Thursday. 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. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Dunlap gained a following blogging about her journey to save $100,000 by the time she turned 25. Most recently, Dunlap, now 28, published her first book, "Financial Feminist," already a New York Times bestseller. Getting good with money takes practice, and you might be on a learning curveGood money management doesn't come naturally to everyone. She considers herself lucky that her parents instilled good financial habits in her from a young age, but acknowledges that not everyone has the same foundation. Identifying your values makes all the differenceBefore setting your specific money goals, you need to understand your personal values, regardless of what everyone else is doing.
New York Times staffers walked off the job on Thursday for one day. Union staffers are in heated contract negotiations with the paper over issues like pay. More than 1,100 union members had pledged to stop working at midnight on December 8 if an agreement had not been reached over a new union contract, with the stoppage planned for 24 hours. That is not where we are today," New York Times executive editor Joe Kahn wrote in a memo to staff, according to an unbylined Times story about the one-day strike beginning. Union members plan to picket outside of the New York Times headquarters on Thursday.
A former Facebook executive weighed in on Elon Musk's tumultuous new ownership of Twitter. Stamos advised Musk on Twitter to stop firing engineers for "correcting your clear misstatements." Musk has publicly fired some workers who have taken to Twitter to dispute claims he has made about the company. The firings have been praised by many of Musk's Twitter followers, but it has also attracted some detractors, including Facebook's former chief security officer Alex Stamos. On Tuesday, Stamos offered advice on Twitter about how to fix Twitter's lag time, finishing his thread by writing, "stop firing best engineers for correcting your clear misstatements."
A Twitter engineer fired by Musk told Forbes "no one can trust anyone within the company anymore." Eric Frohnhoefer was dismissed by Musk after a public spat over Twitter's Android service. Musk fired back by asking the veteran engineer what he had done to "fix" Twitter being "super slow" on Android. Frohnhoefer told Forbes that the company did not provide any formal communication about his dismissal, calling Musk's team "a bunch of cowards." On Sunday, he argued with a former employee about Twitter's free lunch programs, with Musk claiming they cost the company $400 per employee.
Co-CEOs of Bridgewater Associates Nir Bar Dea and Mark Bertolini. When it comes to the world of hedge funds, there's arguably no bigger name than Ray Dalio. It's not just the fact that Dalio grew Bridgewater Associates to the $150 billion behemoth that it is today. To be sure, Bridgewater isn't the only hedge fund in the midst of a changing of the guard. The dispute between billionaire Dan Och and Sculptor Capital Management doesn't seem like it'll be cooling off anytime soon.
Will reporters at The New York Times really go on strike? The idea, unthinkable just a few months ago, is now on the lips of New York Times Guild members as the union's contract negotiations with management heat up. New York Times reporters have walked off the job before, like as part of a 1962-1963 citywide newspaper strike. But Robles said union members are upset that the Times' strong business footing has not translated into better pay. (The Times spokesperson countered that the paper was not seeing record profits).
Will reporters at The New York Times really go on strike? The idea, unthinkable just a few months ago, is now on the lips of New York Times Guild members as the union's contract negotiations with management heat up. New York Times reporters have walked off the job before, like as part of a 1962-1963 citywide newspaper strike. The union at Wirecutter, the reviews site owned by the New York Times, walked off the job during the Black Friday shopping period last year, for instance. But Robles said union members are upset that the Times' strong business footing has not translated into better pay.
Some employees are working two full-time jobs in secret to make extra cash. It was here he discovered that they were in fact working another full-time job, though they were spending less than 40 hours a week on it. "Even when they aren't handling another full-time job on the side, they still have families, friends, pets, and hobbies." Daivat DholakiaEssenvia doesn't allow employees to work a second full-time job at the same time that they're employed full-time with the company, Dholakia said. As was the case with Snead's employee, Dholakia's employee quit the second job, and they're still with Essenvia today.
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