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☆ Cramer points to positives in Monday's rebound, but warns against lasting gains
▼ + stars: | 2024-04-22 | by ( Micah Washington | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer noted positive stock performances in the market rebound on Monday, but indicated Big Tech earnings coming this week will tell the tale on whether it will last. The S&P 500 traded 0.87% higher to finish the session at 5,010.60. The S&P 500 and Nasdaq both ended a six-day losing streak. Cramer says the stock mounted an advance, but it won't be enough to erase Friday's losses. Other Big Tech companies Tesla , Meta Platforms , Microsoft and Alphabet are scheduled to report their earnings this week.

Persons: CNBC's Jim Cramer, Cramer, Nvidia's, I'm, We've Organizations: Big Tech, Dow Jones, Nasdaq, Nvidia, Microsoft

☆ Paramount stock slumps on reports that Skydance merger would require company to raise new equity
▼ + stars: | 2024-04-04 | by ( Micah Washington | ) www.cnbc.com time to read: +1 min

Paramount Global 's stock slumped 8% on Thursday after CNBC's David Faber reported the company would need to raise as much as $3 billion in new equity if it were to merge with David Ellison's Skydance Media, according to sources familiar with the deal. This deal comes as media mogul Shari Redstone, the controlling shareholder of Paramount, is said to be in exclusive talks with Ellison on selling her stake to him, according to Bloomberg. Faber said Ellison and his partners would likely step up to provide a good amount of that equity, but it would be dilutive. Redstone is looking to sell Paramount, as the company has been in talks with Warner Bros Discovery on its acquisition. The MTV and CBS parent company has a market capitalization of nearly $10 billion and about $13 billion of net debt.

Persons: CNBC's David Faber, David Ellison's Skydance, Shari Redstone, Ellison, Faber Organizations: Paramount, David Ellison's Skydance Media, Bloomberg, Wall Street Journal, Apollo Global Management, Redstone, Warner Bros Discovery, MTV, CBS

☆ Beyoncé's country songs are bringing new listeners to the genre, boosting streams for Black artists
▼ + stars: | 2024-03-16 | by ( Micah Washington | ) www.cnbc.com time to read: +8 min

While some music critics praised Knowles' country tracks, other fans of the genre refrained from a warm welcome. Beyond just radio, Black artists and artists of color represented less than 4% of country songs played on the radio, airplay, charting songs, artists signed to major labels and award nominations, according to SongData. One such fan, Tenley Patterson, 26, said she didn't bother listening to country music before Beyoncé's releases, but was impressed with the country tracks. Rachel Whitney, head of editorial for the Nashville team, said playlists outside of the country genre are playing Knowles' country tracks, broadening its reach. The Beyoncé draw is also boosting exposure for other artists on some lists, like Lainey Wilson and Cody Johnson, who have more "traditional" country songs, Whitney said.

Persons: Beyonce, James Devaney, Cowboy Carter, Beyoncé Knowles, Tanner Adell, Mickey Guyton, Reyna Roberts, Knowles, Alice Randall, Randall, —, Rhiannon Giddens, hasn't, Jocelyn Neal, Maren Morris, Luke Combs, Kacey, Lil Nas, Nas X, Tim Mosenfelder, Neal, Knowles —, Taylor Swift, Beyoncé, George Bush, Tenley Patterson, I've, Patterson, It's, there's, Z, Rachel Whitney, Lainey Wilson, Cody Johnson, Whitney, Kevin Mazur Organizations: Scott, New York, Spotify, The New York Times, Radio, University of North, NBC, Houston, CMA, Republican, Nashville, Crypto.com Arena, The Recording Academy Locations: Brooklyn, New, New York City, U.S, Texas, an Oklahoma, University of North Carolina, San Francisco , California, Iraq, Los Angeles , California

☆ Medicaid challenges leave many Black Americans uninsured
▼ + stars: | 2024-02-29 | by ( Micah Washington | ) www.cnbc.com time to read: +5 min

Recent changes to Medicaid programs, aimed at closing a health coverage gap in the U.S., have left behind some Americans — particularly people of color. But as the global health crisis waned and Medicaid coverage expansions faced delays in some states, insured rates fell and Black Americans remained disproportionately uninsured compared with white Americans, according to KFF, formerly known as Kaiser Permanente. In 2022, 10% of Black Americans were uninsured, compared with 6.6% of white Americans. In states that don't offer Medicaid expansion, 13.3% of non-elderly Black Americans are uninsured, according to KFF, compared with 7.3% of that population in states that have already adopted the expansion. Most of the patients at WOH are Black and are covered under Medicaid, according to the company.

Persons: —, Jenn Wagner, Samantha Artiga, Wagner, they're, Robert Phillips, WOH, Phillips Organizations: KFF, Affordable, Permanente, Budget, U.S . Bureau of Labor Statistics, Health, West Oakland Health, East Locations: U.S, East Bay Area, California, WOH

☆ DraftKings posts 44% revenue growth and narrowing losses, but falls short of estimates
▼ + stars: | 2024-02-15 | by ( Micah Washington | ) www.cnbc.com time to read: +1 min

DraftKings on Thursday posted quarterly results that missed Wall Street estimates on the top and bottom line, but it increased its revenue by 44%. For the last three months of 2023, DraftKings reported a net loss of $44.6 million compared with $242.7 million in the same period a year earlier. Losses per share improved to a loss of 10 cents versus a loss of 53 cents in 2022. DraftKings garnered 3.5 million average "monthly unique payers," a 37% increase from the same period in 2022. For 2024, the company is increasing its fiscal year guidance to between $410 million and $510 million compared to its prior guidance of between $350 million and $450 million.

Persons: DraftKings Organizations: LSEG Locations: Maine and Vermont

A general view of Super Bowl signage displayed in the NFL Super Bowl Experience ahead of Super Bowl LVIII on February 06, 2024 in Las Vegas, Nevada. Super Bowl 58 kicks off at 6:30 p.m. The Super Bowl is advertising's biggest stage, with companies jockeying for a limited supply of spots to get their products in front of millions of consumers. Even as linear ad revenue slips, companies know there's no opportunity guaranteed to reach more people than the Super Bowl. — Amelia Lucas, Michael Wayland, Micah Washington, Gabrielle Fonrouge, Lorie Konish, Drew Richardson and Jordan Novet contributed to CNBC's Super Bowl coverage.

Persons: Bob Iger, Jason Momoa, Quinta Brunson, Jenna Ortega, Tina Fey, Kate McKinnon, Pete Davidson, Addison Rae, Usher, — Amelia Lucas, Michael Wayland, Micah Washington, Gabrielle Fonrouge, Lorie Konish, Drew Richardson, Jordan Novet Organizations: NFL, Super, AFC, Kansas City Chiefs, NFC, San Francisco 49ers, Disney, CBS Locations: Las Vegas , Nevada, Las Vegas, U.S

☆ Columbia CEO says warm winter affected company’s fourth-quarter sales
▼ + stars: | 2024-02-02 | by ( Micah Washington | ) www.cnbc.com time to read: +1 min

Columbia Sportswear CEO told CNBC's Jim Cramer on Friday that the company is still heavily dependent on winter weather for sales and is looking or opportunities to venture out after reporting disappointing fourth-quarter earnings. Columbia, known for its winter apparel, faces challenges with increasingly warm weather. "Those kinds of things can keep us straight and narrow and a time when the business has been more challenged." Columbia shares were down 0.87% on Friday after the bell after the company reported weaker than expected earnings. However it expects 2024 to be a challenging year as "retailers are placing orders cautiously, and economic and geopolitical uncertainty remains high."

Persons: CNBC's Jim Cramer, Boyles, Boyle, We're Organizations: Columbia

☆ Spotify renews deal with podcaster Joe Rogan, will put show on other platforms
▼ + stars: | 2024-02-02 | by ( Micah Washington | ) www.cnbc.com time to read: +1 min

Spotify has signed a new blockbuster deal with polarizing podcaster and comedian Joe Rogan, but this time, his show won't be exclusive to Spotify, the company announced Friday in a news release. The multiyear deal with Rogan, the founder of "The Joe Rogan Experience," is said to be worth about $250 million, according to The Wall Street Journal, which first reported on the deal. Spotify also said it's expanding the partnership to allow the show to be available on other platforms. Spotify first brought "The Joe Rogan Experience" to its platform exclusively in 2020 in a deal that was reportedly worth more than $100 million. Spotify came under fire for hosting those videos, and dozens of Rogan's episodes were removed from the platform.

Persons: Joe Rogan, Rogan, Elon Musk, Neil Young, Joni Mitchell Organizations: Spotify, Wall Street, Edison Research, CNBC PRO Locations: U.S

Jeans are displayed at a Levi Strauss store in New York, March 19, 2019. Levi Strauss will lay off at least 10% of its global corporate workforce as part of a restructuring, the apparel retailer said Thursday. The job cuts will take place in the first half of the year, and could affect up to 15% of corporate employees, Levi's said. The company had more than 19,000 employees as of November, but it is unclear how much of that workforce is in corporate offices. Macy's and Wayfair both announced job cuts this month, as both older and newer retailers try to kickstart sales and boost profits.

Persons: Jeans, Levi Strauss, Levi's, Wayfair Organizations: LSEG Locations: New York

☆ Oatly shares pop as oat milk maker brings dairy-free flavors to Carvel ice cream shops
▼ + stars: | 2024-01-22 | by ( Micah Washington | ) www.cnbc.com time to read: +1 min

Oatly and Carvel said on Monday that they will partner to add oat milk-based items at the chain's ice cream stores nationwide. Carvel, a chain known for its soft serve, will add five new plant-based desserts to its menu as part of the partnership. The Oatly products will include strawberry soft serve and scooped cookies and cream and chocolate peanut butter flavors, along with cakes. Oatly said the partnership will help the ice cream shop chain serve people with dairy allergies or dietary restrictions. More consumers have embraced plant-based milk in recent years, and oat milk has started to make up a larger share of that segment.

Persons: Oatly, Carvel, Jim Salerno Organizations: Foods, CNBC PRO Locations: San Rafael , California, Swedish

☆ American Express CEO says spending is strong, delinquencies are down from 2019
▼ + stars: | 2024-01-19 | by ( Micah Washington | ) www.cnbc.com time to read: +1 min

Stephen Squeri, chairman and chief executive officer of American Express Co., speaks during an Economic Club of New York event in New York, US, on Thursday, Nov. 10, 2022. American Express CEO Stephen Squeri on Friday said the credit card company saw "good consumer spending" during the holidays and signs of strong overall health for U.S. spending. In particular, delinquency rates were "lower than they were in 2019," Squeri told CNBC's Scott Wapner in an interview at the American Express PGA Tour event in La Quinta, California. The signs of resilient consumer spending run somewhat counter to persistent inflation. American Express reports its fourth-quarter earnings on Jan 26.

Persons: Stephen Squeri, Squeri, CNBC's Scott Wapner, he's, JPMorgan Chase, Jamie Dimon, Goldman Sachs, David Solomon, We'll Organizations: American Express Co, Economic, of New, American Express, JPMorgan, Federal, Express Locations: of New York, New York, La Quinta , California, U.S

☆ NBA postpones second Warriors game after assistant coach’s death
▼ + stars: | 2024-01-18 | by ( Micah Washington | ) www.cnbc.com time to read: +1 min

Assistant coach Dejan Milojević and Kevon Looney, #5 of the Golden State Warriors, talk before the game against the Los Angeles Lakers during the Western Conference Semifinals in the 2023 NBA Playoffs at Crypto.com Arena in Los Angeles on May 6, 2023. The National Basketball Association said a second Golden State Warriors game has been postponed after the team's assistant coach Dejan Milojević died earlier this week. ESPN will instead broadcast the Brooklyn Nets versus Los Angeles Lakers Friday night. "We are absolutely devastated by Dejan's sudden passing," said Warriors Head Coach Steve Kerr in a press release. Milojević was in his third season on the Warriors' coaching staff, including the team's 2022 NBA Championship run.

Persons: Dejan Milojević, Looney, Milojević, Steve Kerr Organizations: Golden State Warriors, Los Angeles Lakers, Western, Crypto.com Arena, National Basketball Association, Warriors, Dallas Mavericks, ESPN, Brooklyn Nets, The Warriors, KK Mega Basket, Atlanta Hawks, San Antonio Spurs, Houston Rockets, CNBC PRO Locations: Los Angeles, Belgrade, Serbia

☆ Diddy and Diageo part ways in settlement of racism accusations
▼ + stars: | 2024-01-16 | by ( Micah Washington | ) www.cnbc.com time to read: +2 min

Sean "Diddy" Combs and Diageo said Tuesday they have broken ties and settled the music mogul's accusations that the spirits giant neglected his vodka and tequila brands. Mr. Combs has withdrawn all of his allegations about Diageo and will voluntarily dismiss his lawsuits against Diageo with prejudice." Diageo and Combs added that they have "no ongoing business relationship, either with respect to Cîroc vodka or DeLeón tequila, which Diageo now solely owns." In November, Diageo filed a letter aiming to prevent Combs from appearing in DeLeon tequila ads after the singer Cassie accused him of rape and abuse. Cassie and Combs settled the singer's lawsuit that month, only a day after she filed it.

Persons: Sean, Diddy Combs, Debra Kelly Ennis, Guy Smith, Diddy, Stone Rose, Combs, DeLeon, Cassie, Don Julio, Johnnie Walker Organizations: Diageo, Diageo North, Stone, Time Warner Center, New York Supreme, Combs, CNBC PRO Locations: Diageo North America, New York City, London, New York, Manhattan

☆ Corona-maker AB InBev to have first beer sponsorship with the Olympics
▼ + stars: | 2024-01-12 | by ( Micah Washington | ) www.cnbc.com time to read: +1 min

Anheuser-Busch InBev has scored a sponsorship for the upcoming Olympic Games, making it the first beer brand to ever sponsor the event. Corona Cero, one of AB InBev's non-alcoholic beers, contains less than 0.5% alcohol by volume, according to the company's website. It has a "characteristic as a category that is incredible, which is beer is local," Doukeris said. Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.

Persons: Corona, Doukeris, CNBC's Arabile Gumede, Dylan Mulvaney, Bud Organizations: Anheuser, Busch InBev, Games, Olympic Committee, IOC, Corona Cero, InBev's, InBev, Bud Light, Modelo Especial, U.S ., CNBC, NBCUniversal, NBC Sports, NBC Olympics, NBC Locations: Los Angeles, U.S

REFORM, Ala. (AP) — An Alabama police officer is on leave after video circulated on social media showed her appearing to shock a handcuffed and compliant man with a stun gun and telling him to shut up after he cried out in pain. The video shows a white female police officer shocking a Black man after placing him in handcuffs and leaning him against a car. In the 45-second video clip, which went viral, the handcuffed man is not resisting and tells the officer he has a gun on him. She then appears to shock him with the stun gun pressed to his back and tells him to be quiet. "The Reform Police Department is aware of a video circulating involving a citizen’s arrest on December 2, 2023.

Persons: ”, Micah Washington, Melody Davis, Richard Black, ’, Dana Elmore, Elmore, ” Jalexis Rice, Washington’s, WVTM, ” Rice, “ Organizations: Police, Reform Police Department, Alabama, Bureau of, Agency, Reform City Hall, Associated Press, Washington Locations: Ala, An Alabama, Tuscaloosa, Reform, Washington

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