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☆ Harvey Weinstein expected back in NY court in first appearance since his conviction was overturned
▼ + stars: | 2024-05-01 | by ( Eric Levenson | ) edition.cnn.com time to read: +3 min

CNN —Former movie producer Harvey Weinstein is set to appear in a New York courtroom Wednesday in his first public appearance since an appeals court overturned his sex crimes conviction. The court’s ruling upended the case against Weinstein, whose downfall stood as a symbol of the success of the #MeToo movement. The appeals court ordered that Weinstein receive a new trial. Yet #MeToo has had mixed success in the courtroom, and this is the second high-profile case to be overturned on appeal. The comedian Bill Cosby was convicted in 2018 of drugging and sexually assaulting a woman, but a Pennsylvania appeals court overturned the conviction in 2021, saying his due process rights were violated.

Persons: Harvey Weinstein, Weinstein, ”, Emily Tuttle, Weinstein’s, MeToo, Bill Cosby, retry, Miriam “ Mimi ” Haley, ” Haley, “, It’s, I’m Organizations: CNN, New, Manhattan, Attorney’s, Mohawk Correctional Facility, Prison, The New York Times, Yorker Locations: New York, Rome , New York, Bellevue, Los Angeles, Hollywood, Love, Pennsylvania

☆ Affordable internet gave Native Americans a way to preserve community and culture. Now it’s another broken promise
▼ + stars: | 2024-05-01 | by ( Brian Fung | ) edition.cnn.com time to read: +12 min

Within weeks, the two-year-old US Affordable Connectivity Program (ACP) is set to run out of funds, and Congress appears unlikely to authorize more. Even as many older and rural Americans may be thrust into financial hardship due to the ACP’s collapse, indigenous communities could fare even worse. Because tribal members can now work remotely, they are no longer forced to move away from their communities to seek opportunity, they told CNN. For example, Mitchell said, after decades of decline in Mohawk fluency, a growing number of tribal members are now involved in online language immersion. (AP Photo/Seth Wenig) Seth Wenig/AP/FileInstead, some say, the collapse of the ACP will become another stain on the US government’s centuries-long track record of breaking promises to tribal communities.

Persons: Kelly, ”, “, “ That’s, ” Kelly, Mike Johnson, Pennsylvania Democratic Sen, John Fetterman, Fetterman’s, Jonathan Nez, “ I’ve, Loren King, Geoffrey Starks, ” Starks, Allyson Mitchell, Mitchell, Nez, ” Nez, Derrick VanSoolen’s, Choctaw, ” VanSoolen, they’re, Bois, Randy Long, Gary Johnson, Paul, Seth Wenig, I’ll Organizations: Washington CNN, Mohawk, CNN, Connectivity Program, FCC, Pennsylvania Democratic, Federal Communications Commission, Treasury, US Federal Communications Commission, Mohawk Networks, Navajo, ACP, Emergency, Program, Choctaw Nation, Bois Forte, Paul Bunyan Communications Locations: St, Lawrence, New York, Canadian, Mohawk, America, Navajo, Oklahoma, Oklahoma , Arizona, New Mexico, Alaska, South Dakota, Arizona, Minnesota, Regis

☆ Activist Jana Partners calls for a strategic review at Wolfspeed. Here’s how it may develop
▼ + stars: | 2024-04-27 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Activist Commentary: Jana is a very experienced activist investor founded in 2001 by Barry Rosenstein. Wolfspeed is the world's leading producer of silicon carbide, or SiC, and a manufacturer of silicon carbide applications. Jana also recommends that the board commences a review of strategic alternatives, including a possible sale of the company. At Freshpet, Jana also made operational and capital allocation recommendations in addition to reviewing a sale of the company. Here, there has been no such mention of a "Jana Dream Team," but it is a little too early for that.

Persons: Jana, Barry Rosenstein, Rosenstein, John Palmour, Wolfspeed, Renesas, Ken Squire Organizations: John Palmour Manufacturing, Silicon Carbide, Mitsubishi Electric, 13D Locations: Siler City, N.C, Marcy, N.Y, North Carolina, Mohawk, New York, Germany, Freshpet

☆ Harvey Weinstein sex crime conviction overturned and new trial ordered
▼ + stars: | 2024-04-25 | by ( Eric Levenson | ) edition.cnn.com time to read: +5 min

CNN —The New York Court of Appeals on Thursday overturned the sex crimes conviction against Harvey Weinstein, the powerful Hollywood producer whose downfall stood as a symbol of the #MeToo movement. Douglas H. Wigdor, an attorney who has represented eight of Weinstein’s accusers, including two of the “prior bad acts” witnesses at his New York criminal trial, criticized the ruling. In addition, three other women testified during the trial as “prior bad acts” witnesses as prosecutors sought to show Weinstein had a pattern of abuse. The use of “prior bad acts” witnesses has increased in recent years with the rise of the #MeToo movement. “Prior bad acts” evidence is one exception to this rule.

Persons: Harvey Weinstein, “, uncharged, Jenny Rivera, ” Weinstein, Weinstein, ” Donna Rotunno, ”, Emily Tuttle, Douglas H, Weinstein’s, MeToo, Bill Cosby, Miriam Haley, Jessica Mann, Haley, Mann Organizations: CNN, The New, Hollywood, Correctional Facility, of Corrections, Attorney’s, Manhattan, The New York Times, Yorker Locations: The New York, Rome , New York, Los Angeles, New York, Manhattan, York, Hollywood, Love, Pennsylvania

☆ Activist investor Jana discloses 'significant' stake in Wolfspeed, urges semiconductor manufacturer to consider sale
▼ + stars: | 2024-04-22 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Activist investor Jana Partners disclosed in a letter Monday that it has built a "significant" position in semiconductor manufacturer Wolfspeed and urged the company to resolve what it called a "staggering erosion of shareholder value," up to and including a sale. In the letter to Wolfspeed's board, viewed by CNBC, Jana wrote that the semiconductor company's "differentiated manufacturing capabilities" and status as an "American supplier supporting the energy transition" gave it significant intrinsic value. Jana also wrote that management's missteps around capital allocation, execution and strategy had depressed the stock. Wolfspeed, formerly known as Cree, is a supplier of electronic components and semiconductors used to manage electricity, often in cars. Jana said Wolfspeed's board should "promptly" begin a comprehensive review of the business, up to and including a sale.

Persons: Scott Ostfeld, Jana Partners, Jana, Wolfspeed, Barry Rosenstein, Kif Leswing Organizations: JANA Partners, CNBC, Reuters, TSR, Qualcomm, Trimble Locations: New York City, U.S, Mohawk Valley, Siler City, Freshpet ,

☆ How Georgia became America's green-manufacturing capital
▼ + stars: | 2024-03-13 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +14 min

Howey, now 30, grew up in northwestern Georgia near Dalton, a small city known as the "carpet capital of the world." SolarCycle, which reclaims old solar panels to make new ones, in February announced plans for a glass factory. The law authorized big tax credits for companies making renewable-energy technologies, including solar panels, batteries, and electric vehicles, in the US. According to S&P Global, the US imported more than two-thirds of its solar panels from Southeast Asia last year. When he sees solar panels atop the chargers, he feels pride in his job.

Persons: Robert Howey, Howey, he'd, Qcells, Catherine Boudreau, Joe Biden, Biden, Bob Keefe, Keefe, Gedia, Pat Wilson, Wilson, Brian Kemp, Benz, Dalton, Kemp, Heidi Popham, Popham, Donald Trump, Scott Moskowitz, Sen, Jon Ossoff of, Moskowitz, it's, Carl Campbell, Campbell, —, Whitfield, Jevin Jensen, Jensen, He's Organizations: US Navy, Business, Qcells, South, Hanwha, SK, Hyundai, Georgia Department of Economic, Gov, Porsche, Mercedes, SK On's, Financial Times, Georgia Northwestern Technical College, Treasury Department, P Global, Microsoft, Development Authority, Shaw Industries, Mohawk Industries, EV Locations: Georgia, Dalton, Japan, Cartersville, South Korea, Malaysia, North Carolina, China, Georgia , North Carolina, South Carolina, Savannah, Atlanta, Cartersville , Georgia, Germany, Commerce , Georgia, Southeast Asia, Korea, Jon Ossoff of Georgia, Washington, BloombergNEF, Vietnam, Whitfield County, ., Whitfield, Calhoun

☆ One Family’s Road to Building a House Despite the Obstacles
▼ + stars: | 2024-02-27 | by ( Heather Senison | ) www.nytimes.com time to read: +1 min

Mr. Lebehn, originally from Pohnpei, an island in Micronesia, got a job as a chef at the local casino; Ms. Martin found work in a doctor’s office. They had moved from Myrtle Beach, S.C., where they met at a dance at the House of Blues in 2001. Ms. Martin wanted a village to help raise their expanding family. First they rented apartments on the reservation, but those quarters were getting uncomfortably tight as their four children grew older. “Once you get to that age you need your own space, considering two of the children were 6 feet tall,” said Ms. Martin, 45.

Persons: Randa Martin, Richard Lebehn, Saint, Martin, Lebehn, ” Organizations: Saint Regis, of Blues Locations: Saint Regis Mohawk, Pohnpei, Micronesia, Myrtle Beach, S.C

NEW YORK (AP) — Nearly four years after Harvey Weinstein was convicted of rape and sent to prison, New York’s highest court will hear arguments Wednesday in his quest to overturn the landmark #MeToo-era verdict. The New York Court of Appeals agreed last year to take Weinstein’s case after an intermediate appellate court upheld his conviction. His New York trial drew intense publicity, with protesters chanting “rapist” outside the courthouse. That evidence would have served “only to make the jury hate Weinstein,” his lawyers said. During oral arguments, Judge Sallie Manzanet-Daniels said that Burke had let prosecutors pile on with “incredibly prejudicial testimony” from additional witnesses.

Persons: Harvey Weinstein, “, James Burke, Weinstein, ”, Arthur Aidala, Annabella Sciorra’s, Sciorra, Burke, would’ve, Burke’s, hadn’t, “ providently, Sallie Manzanet, Daniels, Aidala Organizations: New, Mohawk Correctional Facility, Associated Press Locations: Albany, Los Angeles, Italian, York, New York, Love, what’s, Sisak, x.com

☆ Stocks making the biggest moves midday: New York Community Bancorp, Diamondback Energy, VF Corp. and more
▼ + stars: | 2024-02-12 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Bank of America also reiterated its neutral rating on Monday, while noting that leadership has "the playbook to turn things around." Diamondback Energy — The shale producer jumped 9.4% after announcing its purchase of Endeavor Energy, the biggest private company that produces natural resources from the Permian Basin. CymaBay Therapeutics , Gilead — Shares of CymaBay soared 25.4% after Gilead agreed to buy the drug developer. The deal comes as Gilead, whose shares were up around 1% in Monday's session, looks to expand beyond HIV drugs. Marqeta — The credit card technology stock added 5.7% after a Bank of America upgrade to buy from neutral.

Persons: Gilead, Bracken Darrell, Trimble, —, Joe Ahlersmeyer, Piper Sandler, Teva, Samantha Subin, Sarah Min Organizations: New York Community Bancorp, Bank of America, Endeavor Energy, CymaBay Therapeutics, Gilead, VF Corp, Reuters, Mohawk Industries, Deutsche Bank, Citi, Space Development Agency, Teva Pharmaceutical —, JPMorgan, Nvidia Locations: Israel

☆ Here are Monday's biggest analyst calls: Netflix, Nvidia, Apple, Meta, Lowe's, Walmart, Target, Pepsi & more
▼ + stars: | 2024-02-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

JPMorgan upgrades Lowe's to overweight from neutral JPMorgan said investors should buy the stock ahead of earnings later this month. JPMorgan reiterates Netflix as overweight JPMorgan said it's standing by its overweight rating on shares of Netflix. Loop reiterates Meta as buy Loop raised its price target on the stock to $550 per share from $440. Loop reiterates Alphabet as hold Loop raised its price target on the stock to $155 per share from $140. " UBS reiterates Target as buy UBS says Target shares are "compelling."

Persons: Evercore, it's, wouldn't, Rivian, Piper Sandler, Piper, Jefferies, Willis Towers Watson, URBN, Morgan Stanley downgrades Hershey, Morgan Stanley, Morgan Stanley downgrades XPO, Stifel, Raymond James downgrades, Raymond James, Melius, Roth, Guggenheimer, Guggenheim Organizations: Apple, Barclays, Walmart, EV, JPMorgan, generics, UFC, WWE, Netflix, Citi, Willis, PepsiCo, PEP, LT, UBS, Urban Outfitters, Google, 4Q, Bulls, Target, Bank of America, of America, Bank of America downgrades Duke Energy, Duke Energy, Brands, Nvidia, Deutsche Bank, Industries, Deutsche, SilverBow Resources Locations: U.S, Bank of America downgrades, NWL, Republic, Mohawk

Remington is consolidating its operations in Georgia, a state the company says is friendlier to the firearms industry. Mayor John Stephens meets with village board members under a seal portraying Eliphalet Remington holding a long gun. The four-story, brick plant by Armory Street and Remington Avenue looms over the community about 55 miles (90 kilometers) east of Syracuse. The Ilion plant went to a group of investors called the Roundhill Group as part of a $13 million bid. After months of union negotiations, the firearms plant reopened in the spring of 2021.

Persons: — Remington, Eliphalet Remington, Sandy, Remington, it’s, ”, Jim Conover, Mayor John Stephens, Conover’s, Frank “ Rusty ” Brown, “, Brown, RemArms, Ken D’Arcy, “ They've, Daniel Mendez, Stephens, Michael Disotelle, Sandy Hook, we’re, ” Stephens Organizations: Remington, Mayor, Street, United Mine Workers of America, Remington Firearms, Republican, New, Smith & Wesson, Cerberus Capital Management, Remington Arms, Bushmaster Firearms, Co, Vista Locations: Mohawk, Georgia, Sandy Hook, Detroit, Syracuse, New York, New York City, Tennessee, Springfield , Massachusetts, LaGrange , Georgia, Erie, Ilion

☆ Goldman breaks down the laggard trade and gives its comeback picks for first quarter 2024
▼ + stars: | 2023-12-05 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Today's market-leading stocks may not have the luxury to sit on their laurels, according to Goldman Sachs. Since Goldman Sachs began tracking the "Laggards" trade in 2022, the trend has held up 13 years out of 21, according to Mehta. The laggards have on average outperformed the S & P 500 by 130 basis points. The first, "differentiated buys," includes opportunities where Goldman Sachs analysts have out-of-consensus buy ratings. Finally, Goldman Sachs analysts also identified stocks with a "track record of CROCI [cash return on capital invested] generation," a metric that evaluates a company's cash return against its total equity.

Persons: Goldman Sachs, there's, Deep Mehta, Mehta, Laggards, laggards, Locker, — CNBC's Michael Bloom Organizations: Financial, Barclays, Mosaic, CF Industries, Clear, Chesapeake Energy, Shoals Technologies, Biomarin Pharmaceutical, Body Works, Mohawk Industries, Bristol, Myers Squibb, Honeywell International, United Parcel Service Locations: . Norfolk Southern, Bath

☆ How adult-content and OnlyFans star Riley Reid plans to 'immortalize' herself using AI and new chatbot tech
▼ + stars: | 2023-12-04 | by ( Marta Biino | ) www.businessinsider.com time to read: +5 min

The adult-content and OnlyFans star Riley Reid recently launched an AI platform, Clona, with a chatbot based on herself. I feel so lucky I've had the opportunity to create Riley Reid as a mainstream name. Riley Reid has been in the adult-content industry for over a decade. Reid cofounded Clona based on an idea her team had when they began noticing the success of AI chatbots like ChatGPT. "You can request your AI Riley to give herself a purple mohawk if that's what you're into, because real-life Riley would never do that."

Persons: Riley Reid, Reid, I'm, I've, she'd, Clona, chatbots, Lena, Paris Hilton, Tom Brady, Amber, Brady's, Riley, she's, that's Organizations: Business, Meta, Paris

ILION, N.Y. (AP) — A gun factory in upstate New York with a history stretching back to the 19th century is scheduled to close in March, according to a letter from the company to union officials. RemArms, the current version of Remington Arms, will close its facility in the Mohawk Valley village of Ilion around March 4, according to the letter sent Thursday. The plant currently employs about 270 workers, according to union officials. The factory site in the village dates to 1828, with many of the current buildings constructed early in the 20th century. The current company no longer makes the Bushmaster AR-15 rifles used to kill 20 first-graders and six educators in the Sandy Hook shooting in Connecticut in 2012.

Persons: RemArms, Sandy, Cecil E, Robert, ” Organizations: Remington, Observer, Dispatch, Investors, Roundhill Group, Owners, Union, United Mine Workers of America International Locations: New York, Mohawk, Ilion, Utica, Sandy Hook, Connecticut, Lenoir City , Tennessee, Georgia

☆ Notable investor says ‘the top of growth stocks is coming.’ Here is where he sees opportunity
▼ + stars: | 2023-11-29 | by ( ) www.cnbc.com time to read: +2 min

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

☆ Wolfspeed jumps on upbeat quarterly forecast
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

That facility, which started generating revenue at the end of Wolfspeed's fiscal 2023, contributed $4 million to its third-quarter revenue. The company said it expects second-quarter revenue from continuing operations of between $192 million and $222 million. Net loss widened to $3.22 per share from 21 cents per share a year earlier. Its quarterly revenue of $197.4 million missed analyst expectations of $207.7 million. Reporting by Zaheer Kachwala and Chavi Mehta in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Wolfspeed, Gregg Lowe, Piper Sandler, Zaheer Kachwala, Chavi Mehta, Anil D'Silva Organizations: Thomson Locations: New York, Mohawk, Bengaluru

☆ Friends From Childhood. Brothers in War.
▼ + stars: | 2023-10-29 | by ( Megan Specia | More About Megan Specia | ) www.nytimes.com time to read: +1 min

They had met as boys in the scouts group called Plast, in the western city of Lviv, and forged bonds over mountain hikes, sunburns, scratched knees and bug bites. Friends called him “Kurka,” Ukrainian for chicken, because of the mop of curly hair he styled into a mohawk as a youth. But he was also deeply invested in seeing his small home village near the city thrive, and hoped to start a small farm there. Roman Lozynskyi studied political science in Lviv and got into local politics before spending time as an intern in the Canadian Parliament. He was elected to the Ukrainian Parliament in 2019, and had started to split his time between Kyiv, the capital, and Lviv.

Persons: Artem, Dmytro, Artem Dymyd, Kurka, Dmytro Paschuk, Roman Lozynskyi Organizations: Roman, French Legion, Canadian Locations: Lviv, Ukrainian, Kyiv

☆ Morning Bid: Haunted by 5% ahead of ECB, GDP and Amazon
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 23, 2023. With Amazon due to report later, there was no respite for the so-called 'Magnificent Seven' Wall St behemoths or the wider market ahead of Thursday's open. The bond market seemed unimpressed even as the U.S. House of Representatives ended a three week hiatus by electing Republican Mike Johnson, a conservative with little leadership experience, as speaker. European stocks (.STOXXE) and the euro dropped sharply, meantime, as regional banking shares were hit ahead of the European Central Bank's policy decision later in the day. Key developments that should provide more direction to U.S. markets later on Thursday:* European Central Bank policy decision and press conference.

Persons: Brendan McDermid, Mike Dolan, Israel, Republican Mike Johnson, Johnson, Joe Biden's, AO, Bunge, Northrop, Wang Yi, Antony Blinken, Emelia Sithole Organizations: New York Stock Exchange, REUTERS, Google, Big Tech, Nasdaq, Semiconductor, SOX, Bank of Japan, U.S . House, Republican, United Auto Workers, Ford, European, ECB, Chartered, BNP, Central Bank, Turkish Central Bank, Fed, Intel, UPS, Honeywell, Merck, Comcast, Mastercard, Capital, Energy, Mohawk, Eastman Chemical, Camden Property, AO Smith, Hasbro, Myers Squibb, Boston Scientific, Hershey, Northrop Grumman, Treasury, Foreign, U.S, Brussels Reuters Graphics Reuters, Reuters, Thomson Locations: New York City, U.S, Wall, Israel, Gaza, Philadelphia, Bank, Ukraine, China, Kansas, Bristol, Washington, Brussels

☆ Lacrosse Is Coming to the Olympics. Will Its Inventors Be There?
▼ + stars: | 2023-10-19 | by ( Victor Mather | More About Victor Mather | ) www.nytimes.com time to read: +1 min

At major lacrosse events, a team of Native Americans called the Haudenosaunee plays alongside countries like the United States, Canada and Australia. Now lacrosse has achieved an international breakthrough by being added to the Olympics for the Summer Games in Los Angeles in 2028. And both the United States and Canada already have lacrosse teams of their own. Although lacrosse officials seemed eager to find a way to get the team to the Olympics, the International Olympic Committee, which will have the final say, had discouraging words, at least for now. It said the United States and Canada would be able to include athletes from the Haudenosaunee in their respective teams.

Organizations: Olympics, Summer Games, International Olympic Committee, United Nations, Olympic Locations: United States, Canada, Australia, Los Angeles, New York, Ontario, Quebec, Cayuga, Mohawk, Oneida, Onondaga, Seneca, Tuscarora, United

☆ Hermès’s Nadège Vanhée Talks Fashion, Negronis and What Women Want
▼ + stars: | 2023-09-30 | by ( Katharine K. Zarrella | Photographs Ana Kras For The Wall Street Journal | ) www.wsj.com time to read: 1 min

QUEEN OF ROCK Nadège Vanhée at Hermès’s Paris offices. “PUNK” IS HOW Nadège Vanhée describes her childhood self. No, not the kind with a mohawk and safety-pin-pierced clothes, she said, but the “type of kid who went for it.” While growing up in northern France, she and her equally punkish best friend “were determined and wouldn’t let anything get in our way.”

Persons: Vanhée, “, ” Organizations: OF Locations: Hermès’s Paris, France

☆ California professor accused of faking Native American ancestry reaches agreement to resign
▼ + stars: | 2023-08-28 | by ( Cheri Mossburg | ) edition.cnn.com time to read: +2 min

CNN —An ethnic studies professor who was accused of claiming to be Native American has agreed to part ways next year with the University of California Riverside following a complaint filed by colleagues, documents show. The separation agreement makes clear that Smith “denies and disputes all allegations contained in the complaint.” CNN has reached out to Smith for further comment. “The nine-page separation agreement will bring a negotiated end to Professor Smith’s employment with the university,” university spokesperson John Warren said in a statement. Earlier this year, another California professor issued an apology for claiming to be Native American. Hoover remains part of UC Berkeley’s faculty.

Persons: Andrea Smith, Smith, ”, Smith “, John Warren, Warren, “, Elizabeth Hoover, Mi’kmaq, Hoover Organizations: CNN, University of California Riverside, Faculty, ” CNN, UC, American . University of California Berkeley, Mohawk, UC Berkeley’s Locations: American, California

NEW YORK, Aug 17 (Reuters) - Wolfspeed Inc (WOLF.N) shares plunged by nearly 21% on Thursday after analysts slashed price targets and sounded a cautious note about the chip maker's profit trends after its disappointing results. At least six brokerages cut their price targets for Wolfspeed shares after the company predicted a larger-than-expected quarterly loss after the market closed on Wednesday. Bank of America, which rates the stock "underperform," cut its price objective on the stock to $49 from $56. Wolfspeed shares were down 16.7% to $44.31 in afternoon trading. Reporting by Chibuike Oguh in New York; editing by Lewis Krauskopf and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Vivek Arya, Wolfspeed, Chibuike Oguh, Lewis Krauskopf, Deepa Babington Organizations: Wolfspeed, Bank of America, Thomson Locations: Mohawk, New York

☆ Chip firm Wolfspeed's shares tank on disappointing forecast
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

Its shares fell 14% in extended trading on Wednesday, after the company also forecast quarterly revenue below market estimates. It expects adjusted loss per share to be between 60 cents and 75 cents in the first quarter, compared with analysts' estimate of a 29-cent loss, according to Refinitiv data. The midpoint of its quarterly revenue forecast of $220 million to $240 million was also below expectations of $233.2 million. But "it will be the second half of calendar year 2024 before we see $100 million of quarterly revenue from the fab that the 20% utilization would represent." The company's quarterly adjusted loss per share was 42 cents, compared with a 20-cent loss estimate.

Persons: Wolfspeed, Neill Reynolds, Zaheer Kachwala, Shilpi Majumdar Organizations: Thomson Locations: Siler City, Durham , North Carolina, Mohawk Valley, Bengaluru

☆ Robbie Robertson, songwriting force in rock group The Band, dies at 80
▼ + stars: | 2023-08-09 | by ( Matthew Lewis | ) www.reuters.com time to read: +6 min

[1/2] Musician Robbie Robertson arrives for the gala presentation of his biopic "Once Were Brothers: Robbie Robertson and The Band" on opening night at the Toronto International Film Festival (TIFF) in Toronto, Ontario, Canada September 5, 2019. The Band included four Canadians - Robertson, Rick Danko, Garth Hudson and Richard Manuel - and was anchored by an Arkansas drummer, Levon Helm. Robbie Robertson later learned that his biological father was a man he described as a "card shark" of Jewish heritage named Alex Klegerman, who was killed in a highway hit-and-run accident before Robertson was born. Danko died at age 55 in 1999. Helm died of throat cancer in 2012.

Persons: Robbie Robertson, Mario Anzuoni, Robertson, Jared Levine, Robbie, Rick Danko, Garth Hudson, Richard Manuel, Levon Helm, Ronnie Hawkins, Bob Dylan, Martin Scorsese's, Helm, Danko, Manuel, Greil Marcus, Eric Clapton, Elton John, Walcott, Jaime Royal Robertson, Rosemarie Dolly Chrysler, Canadian Army enlistee, Jim Robertson, Alex Klegerman, Dylan, Clapton, Joni Mitchell, Neil Young, Van Morrison, Muddy Waters, Scorsese, Jodie Foster, Hudson, Matthew Lewis, Kanishka Singh, Diane Craft, Rosalba O'Brien Organizations: Toronto, Film, REUTERS, Canadian -, Hawks, Big, Beatles, Walcott Medicine, Canadian Army, Six Nations Indian Reserve, Canadian Broadcasting, Thomson Locations: Toronto , Ontario, Canada, Canadian - American, Los Angeles, Arkansas, Woodstock , New York, San Francisco, America, Toronto, Canadian, Mohawk, Cayuga, Ontario, Florida, Chicago, Washington

☆ Harvey Weinstein is demanding $1 million from a man he claims stole his Banksy paintings
▼ + stars: | 2023-07-18 | by ( Jack Newsham | ) www.businessinsider.com time to read: +2 min

Harvey Weinstein says a man lent him $350,000 for bail but won't return art used as collateral. He's demanding the return of the other Banksy and six other works — or $1 million. Reich is refusing to hand the remaining Banksy over, along with six other works of art that he'd been holding in case the Banksy works lost value. Robert Hantman, Weinstein's lawyer, said the two men were acquaintances and Reich lent Weinstein the money when he was trying to make bail. The lawsuit seeks the return of whatever Banksy works Reich might still have, as well as the other six works.

Persons: Harvey Weinstein, Banksy, Weinstein, Steven Michael Reich, Reich, he'd, Robert Hantman, Reich didn't, Alfred Eisenstaedt, Ron Agam Organizations: Service, Mohawk Correctional Locations: Wall, Silicon, Manhattan, Los Angeles, York

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