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Under Armour — The sportswear maker's Class A shares slumped 11% and its Class C stock fell 9% after it issued lower-than-expected full-year earnings guidance. Under Armour now expects earnings in the range of 18 cents to 21 cents while analysts polled by FactSet had forecast 59 cents. Cisco Systems also hiked its 2024 revenue guidance, saying it now expects revenue of $53.7 billion at the midpoint of a range. Meme stocks — Shares of AMC and GameStop extended losses following the revival of the meme stock movement on Monday and Tuesday. Baidu reported CNY 31.51 billion ($4.7 billion) of revenue, topping the CNY 31.34 billion expected by analysts, according to StreetAccount.
Persons: Armour, FactSet, Goose, Warren Buffett's Berkshire Hathaway, Chubb, Deere, GoodRX, Raymond James, John Ransom, Coupang, Tesla, — CNBC's Michelle Fox, Hakyung Kim, Sarah Min, Samantha Subin, Jesse Pound Organizations: Walmart, Wall, LSEG, Revenue, , Berkshire, Cisco Systems, AMC, GameStop, Deere, Company, Baidu, UBS, ISI, European Union, Facebook Locations: Krakow, Poland, The Seattle
Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2024. A shopping extravaganzaFor many shareholders, the annual meeting is less about buy-and-hold investing and more about, well, buying. Judith Lieber clutches were among the items on sale at Borsheim's in Omaha, Nebraska. The CHI Health Center before the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. Warren Buffett poses with Martin, the Geico gecko, ahead of the Berkshire Hathaway Annual Shareholder's Meeting in Omaha, Nebraska on May 3rd, 2024.
Persons: Warren Buffett, Berkshire Hathaway, Buffett, Charlie Munger, I've, I'd, Borsheim's, Judith Lieber, Ryan Ermey, Diane Cunningham Redden, , Clayton, Brooks, Sarah Min, who'd, She'd, they'd, James Eddins, Greg Abel, Carol Loomis, David A, Charlie, Guy Spier, Spier, Charlie Munger's, Doerthe Obert, Martin Organizations: Berkshire, Berkshire —, Oracle, CNBC, Nebraska Furniture Mart, IWC, CHI, Buffett, Squishmallows, Berkshire Hathaway, CHI Health, Apple, Harlem Globetrotters, Grogen, Aquamarine Fund, Grogan Locations: Omaha , Nebraska, Berkshire, England, Woodstock, Omaha, Geico, Nebraska, Borsheim's, China, Australia, Cincinnati , Ohio, Diane Cunningham Redden Cincinnati , Ohio, Columbus , Nebraska, Fairhope , Alabama, Zurich
“Paying rarely stops the sextortion,” said Susan Kennedy, the director of community of engagement at the National Center for Missing and Exploited Children. Block the harasser, but don’t delete your account. “You don’t want to fully delete your profile, because there will be information on there that law enforcement can use,” Ms. Kennedy said. The National Center for Missing and Exploited Children runs an anonymous tip line to report incidents both online (report.cybertip.org) and via telephone (800-843-5678). To reach the center via email: gethelp@necmec.org.
Persons: , Susan Kennedy, Ms, Kennedy Organizations: National Center for, Children
The Instagram message popped up from a girl named Chelsea: “Howdy.”David didn’t know anyone named Chelsea, but he clicked through her profile: She had brown hair and a nice smile; under her name was a quote from the Bible. He was hesitant when she asked him to chat, but soon her flirty messages escalated to a volley of explicit pictures, and David, a 32-year-old pharmacy technician, got carried away. When she asked him for a nude, he hardly thought twice, he said. He slipped into the bathroom at the New Jersey hospital where he works, took a picture and hit send. David’s phone lit up with messages: pictures he had sent with his genitals exposed alongside screenshots of his Instagram followers with whom he shares a last name — his family.
Persons: “ Howdy, ” David didn’t, selfies, David, , Organizations: Chelsea, Department of Homeland Security Locations: Chelsea, New Jersey, Nigeria
CNN —Were dinosaurs warm-blooded like birds and mammals or cold-blooded like reptiles? Clues from dinosaur eggshells and bones have suggested that some dinosaurs were warm-blooded and others were not. These dinosaurs may have evolved endothermy, or the ability to internally generate body heat, according to the study. “Warm-blooded animals are generally more active, for example, cold-blooded animals usually don’t build nests,” said lead study author Dr. Alfio Alessandro Chiarenza, Royal Society Newton International Fellow at University College London’s department of Earth sciences. Her 2022 study suggested that ornithischians were more likely cold-blooded and sauropods were warm-blooded.
Persons: Big John, Sarah Meyssonnier, ornithischians, , Alfio Alessandro Chiarenza, Brontosaurus, ” Chiarenza, , Jasmina, ” Wiemann, Chiarenza, Anthony Fiorillo, ” Fiorillo, wasn’t Organizations: CNN, Royal Society Newton International, University College London’s, Field, UCL, Universidade de, New, New Mexico Museum, Southern Methodist University Locations: Paris, Chicago, Spain, New Mexico, Dallas
Stocks have been churning higher lately after Fed Chair Jerome Powell indicated rate hikes are likely off the table , a position that investors expect is a bullish event for equities. A strong earnings season, as well as some cooler labor data , also have investors more optimistic in this year's outlook. On Friday, all three major averages are on pace for a winning week, with the 30-stock index up by more than 2%. The market reaction Inflation data has been crucially important this year for investors. Export Price Index (April) 8:30 a.m. Housing Starts (April) 8:30 a.m.
Persons: Jerome Powell, Mike Dickson, Stocks, Dickson, Jeff Buchbinder, Buchbinder, Strategas, Jason De Sena Trennert, Ken Mahoney, Mahoney, Charles Schwab, Price Organizations: Federal Reserve, Dow Jones, Treasury, Horizon Investments, Nasdaq, UBS, Investments, ICE, Fed, LPL, Asset Management, Walmart, Deere, Retail, Cisco, Price, Housing, Philadelphia Fed, Manufacturing, Materials Locations: NAHB
Arm — Shares of British chip designer fell 1% in volatile trading after the company issued revenue guidance that left investors unimpressed. Airbnb said revenue in its second quarter total $2.68 billion to $2.74 billion, while analysts were expecting $2.74 billion, according to LSEG. AppLovin — The mobile technology company soared 19% on the heels of better-than-expected first quarter earnings . Warby lost 2 cents a share, narrower than the consensus forecast of 9 cents per share from analysts surveyed by FactSet. Cheesecake Factory — Shares rallied nearly 9% after the chain's first quarter earnings beat estimates.
Persons: FactSet, Forthe, Klaviyo, Airbnb, AppLovin, AMC's financials, Duolingo, , Warby Parker, Warby, Kate Spade, Roblox, That's, Raymond James, Ancora, Alan Shaw, Equinix, amortization, Charles Meyers, Samantha Subin, Yun Li, Jesse Pound, Sarah Min, Hakyung Kim, Tanaya Macheel, Michelle Fox, Scott Schnipper Organizations: LSEG, LSEG . Revenue, AMC Entertainment, Revenue, FactSet . Revenue, FactSet, Leadership, JPMorgan, Norfolk Southern, postmarket Locations: The Virginia
The company reported first-quarter earnings of 20 cents a share, surpassing analysts' estimates of 6 cents a share, per LSEG. Sweetgreen — The salad chain popped 5% after Sweetgreen reported first-quarter revenue of $158 million, topping the LSEG consensus estimate of $152 million. Akamai sees adjusted earnings ranging from $1.51 to $1.56 per share on revenue of $967 million to $986 million. Insulet — The medical device company fell 5% even after Insulet posted first-quarter earnings and revenue that topped expectations. Insulet posted earnings of 73 cents per share, greater than the FactSet consensus estimate of 40 cents earnings per share.
Persons: Sweetgreen, Akamai, LSEG, Array's, FactSet, Dropbox, Insulet, Darla Mercado Organizations: Revenue, Akamai Technologies, Unity Software, LSEG, Gen, Norton
It turns out that a long pause between Federal Reserve rate actions is historically good for stocks, according to LPL Financial. The pause, which has reached 280 days, is the second-longest in modern market history, LPL noted, behind only the 2006-07 pause that reached 446 days. "Long pauses are typically good for stocks, and the gains achieved since the Fed's last hike in July 2023 are consistent with recent history," said Jeff Buchbinder, chief equity strategist at LPL Financial. "The pace and rise of the S & P 500 during that time are in line with what we are seeing now." Still, the strategist observed that the sectors that have historically outperformed during long pauses are financials and energy, which generally return 15% for the period.
Persons: LPL, Jeff Buchbinder, Buchbinder Organizations: Financial, Investors, LPL
Her evidence on Tuesday was deeply embarrassing for Trump and drew an aggressive cross-examination from his attorney trying to shatter Daniels’ credibility. Merchan also instructed Trump’s attorney, Todd Blanche, to rein in his client after complaining that the defendant had cursed audibly and shaken his head during Daniels’ testimony. So far, Trump — who has launched searing attacks on the judge — has managed to refrain from openly attacking Daniels since she took the stand. And her appearance is only an appetizer for expected explosive evidence in the coming days of the biggest star witness, Trump’s former lawyer and fixer Michael Cohen. The coming days will therefore require qualities that Trump has always struggled to demonstrate in a riotous life in business and politics: restraint and self-discipline.
Persons: Donald Trump, Stormy Daniels, Trump, Daniels, Judge Juan Merchan, Merchan, Todd Blanche, , Michael Cohen, Cohen, he’d, ” Daniels, Sarah Matthews, CNN’s Jim Acosta, , He’s, ” Matthews, Matthews, ” Trump, he’s, Arthur Engoron, Engoron, Trump’s, Jean Carroll Organizations: CNN, Trump, Trump —, White, Trump White House, Prosecutors, Trump Organization Locations: Florida, Lake Tahoe, misbehave
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 8, 2024. U.S. stock futures were little changed on Thursday night after the Dow Jones Industrial Average posted its longest win streak going back to December. S&P 500 futures climbed 0.09%, while Nasdaq 100 futures gained 0.1%. The S&P 500 gained 0.51%, closing above 5,200 for the first time since early April. The S&P 500 and the Nasdaq Composite were higher by 1.7% and 1.2%, respectively.
Persons: Dow, Chris Hyzy, Stocks, Lorie Logan, Neel Kashkari, Michelle Bowman Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Dow, Federal Reserve, Merrill, Bank of America Private Bank, Fed Locations: New York City, U.S, Dallas, Minneapolis, Chicago
Reddit reported a loss of $8.19 per share on $243 million of revenue. Analysts surveyed by FactSet were expecting a loss of $8.75 per share on $214 million of revenue. Electronic Arts – The video game stock fell more than 3% after disappointing results for the fiscal fourth quarter. Cirrus Logic posted fourth-quarter adjusted earnings of $1.24 per share, exceeding the 64 cents per-share earnings analysts polled by StreetAccount anticipated. Match projected between $850 million and $860 million of revenue, while analysts surveyed by StreetAccount were looking for $882.7 million.
Persons: Reddit, FactSet, StreetAccount, Rivian, LSEG, , Fred Imbert, Michelle Fox Theobald, Yun Li, Sarah Min Organizations: Technologies, Arts, EA, Intel —, Intel, Department of Commerce, LSEG, Bros, Cirrus, Logic, Revenue, Arista Networks, Arista Locations: China
At a two-hour House hearing on antisemitism in public schools on Wednesday, the New York City schools chief, David C. Banks, made one thing very clear: He was ready to fight. In an unyielding and fiery tone, Mr. Banks challenged lawmakers and questioned their versions of events. As the leader of the nation’s largest school system, Mr. Banks also acknowledged — often — that hate speech and harassment are a major problem for the district. He told members of an education subcommittee in the House that officials have disciplined about a dozen staff members and school leaders, and suspended at least 30 students. But Mr. Banks also seemed unafraid of wading into a sustained back-and-forth with lawmakers that many witnesses generally seek to avoid when testifying before Congress.
Persons: David C, Banks, unapologetically, Organizations: New, New York City, Republicans, Harvard, University of Pennsylvania, Columbia Locations: New York
Check out the companies making headlines in midday trading: Walt Disney — The entertainment giant sank 10% after posting fiscal second-quarter results . Walt Disney reported adjusted earnings that beat estimates and posted strong Disney+ subscriber growth but slightly missed revenue estimates. Palantir Technologies topped revenue expectations and posted adjusted earnings that were in line with estimates, but offered disappointing full-year guidance. Rocket Lab — Shares declined nearly 4% after the company posted a revenue miss in the first quarter. In the first quarter, the aerospace manufacturer posted revenue of $92.8 million, below the FactSet consensus estimate of $95 million.
Persons: Walt Disney, Stanley Druckenmiller, Datadog, Amit Agarwal, Tesla, Li, Xpeng, StreetAccount, LSEG ., , Jesse Pound, Brian Evans, Alex Harring, Sarah Min, Hakyung Kim, Tanaya Macheel Organizations: Nvidia, Billionaire, Ferrari, billings, FactSet, Li Auto, Technologies, Palantir Technologies, UBS Group, UBS, CNBC, LSEG, Citi, Simon Property Group, Revenue Locations: Italian, FactSet, U.S
School district officials have faced off with students, parents, school board members and teachers about issues related to the Israel-Hamas war — but until now, not members of Congress. For the three public school leaders, who are likely to face a similarly tense environment, “it’s hard to imagine a less welcome invitation,” said Justin Driver, a professor at Yale Law School who is an expert on how constitutional law applies to schools. The three school districts, all diverse, have robust American Jewish communities. They are also in staunchly liberal areas, making them ripe targets for the Republicans who run the committee. And they have had their share of controversies.
Persons: , Justin Driver Organizations: , Education, Workforce, Yale Law School, Republicans Locations: Israel, — New York City, Berkeley, Calif, Montgomery County, Maryland
French President Emmanuel Macron (R) shakes hands with Chinese President Xi Jinping after delivering a joint statement at the Elysee Palace, as part of the Chinese president's two-day state visit in France, in Paris on May 6, 2024. The French president his Chinese counterpart for a state visit on May 6, 2024, seeking to persuade the Chinese leader to shift positions over Russia's invasion of Ukraine and also imbalances in global trade. (Photo by Sarah Meyssonnier / POOL / AFP) (Photo by SARAH MEYSSONNIER/POOL/AFP via Getty Images)Shares of several French cognac makers rallied on Tuesday after France's President Emmanuel Macron suggested that trade tensions between China and the European Union, which could impact the drinks makers, may ease. France's Macron on Monday addressed the ongoing trade dispute with Chinese President Xi Jinping and gifted him a top-range bottle of French cognac which reportedly retails at over $3,200. "I thank the president for his open attitude regarding provisional measures on cognac and for his wish not to implement them," Macron said in a press conference on Monday.
Persons: Emmanuel Macron, Xi Jinping, Sarah Meyssonnier, SARAH MEYSSONNIER, Pernod Ricard, Remy Cointreau, France's Macron, Macron Organizations: Getty, European Union Locations: France, Paris, Ukraine, China, Europe
Strategist Mislav Matejka said equities are coming up against a seasonally weak period and advised investors buy traditionally defensive stocks such as utilities and staples. "The latest market move to a more Defensive trading should have legs, such as recent outperformance of Utilities and Staples." "We continue to believe that will happen irrespective of bond yields direction from here, alongside a more positive performance of commodity sectors - Energy and Mining," he said. XLU 1M mountain Utilities Select Sector SPDR Fund (XLU) Utilities have outperformed quarter to date, while most other sectors have shown weakness. The Utilities Select Sector SPDR Fund (XLU) advanced 4.7% this quarter, making it top performing sector in the S & P 500.
Persons: Mislav Matejka Organizations: JPMorgan, Stocks, Dow Jones, Nasdaq, Utilities, Staples, Energy, Mining, NRG Energy, NextEra Energy, Communication
Hims & Hers Health — The stock surged 14% after the telehealth consultation platform posted second-quarter revenue guidance that topped estimates. Hims & Hers Health anticipates revenue in the range between $292 million and $297 million, better than the LSEG consensus consensus estimate of $288 million. Gap — Shares gained 3.2% after Citi upgraded the apparel retailer to buy from neutral and raised its price target, saying Gap could surpass first-quarter earnings expectations. In the first quarter, the aerospace manufacturer posted revenue of $92.8 million, below the StreetAccount consensus estimate of $95 million. Simon Property Group — Shares rose 0.7% after Simon Property Group posted first-quarter revenue that beat expectations.
Persons: Walt Disney, Palantir, Lucid, Microship, — CNBC's Michelle Fox, Alex Harring, Tanaya Macheel Organizations: Walt Disney Company, Citi, UBS, LSEG, Revenue, Simon Property
Paramount — Shares popped 2.4% following a report that the owner of Paramount Pictures and CBS Entertainment Group began formal acquisition negotiations with a group led by Sony Pictures Entertainment and Apollo. Morgan Stanley downgraded Victoria's Secret to underweight and cut its price target, citing expectations for negative EPS revisions and a tough second half for specialty retail. EHang Holdings — The autonomous aircraft stock advanced 3.2% on the heels of a bullish initiation of research coverage from Morgan Stanley. United States Steel — Shares of the Pittsburgh-based steelmaker rose more than 2% after Morgan Stanley upgraded it to overweight from equal weight. U.S. Steel shares have room to rise thanks to internal improvements, even if the Nippon Steel buyout deal collapses, Morgan Stanley said in a note.
Persons: Warren Buffett, Li, Tyson, Howard Shultz, Morgan Stanley, Coinbase, Bausch, Johnson, , Sarah Min, Tanaya Macheel, Jesse Pound, Michelle Fox, Samantha Subin Organizations: Berkshire Hathaway, Paramount, Paramount Pictures, CBS Entertainment Group, Sony Pictures Entertainment, Spirit Airlines, Li Auto, StreetAccount, Starbucks, EHang Holdings, United States Steel, . Steel, Nippon Steel, Barclays, UBS Locations: Berkshire, China, Pittsburgh
Those moves come after Berkshire posted first-quarter operating profit of $11.22 billion, up 39% from the year-ago period, mainly driven by an increase in insurance underwriting earnings. Insurance underwriting earnings rose to $2.598 billion, a 185% increase from $911 million in the year-earlier quarter. Geico earnings swelled 174% to $1.928 billion from $703 million a year prior. Cash soared to a record $188.99 billion in the first quarter, up from $167.6 billion in the fourth quarter. "We had much-improved earnings in insurance underwriting.
Persons: Warren Buffett, Martin, Cash, Buffett, Berkshire Hathaway, Brian Meredith, Edward Jones, James Shanahan Organizations: Berkshire Hathaway, Berkshire, UBS Locations: Omaha , Nebraska, Berkshire
Spirit also forecast second-quarter revenue between $1.2 billion and $1.34 billion, below a FactSet estimate of $1.46 billion. Paramount — Shares popped 3.3% following a report that the owner of Paramount Pictures and CBS Entertainment Group began formal acquisition negotiations with a group led by Sony Pictures Entertainment and Apollo . U.S. Steel shares have room to rise due to internal improvements, even if the Nippon Steel buyout deal collapses, Morgan Stanley said in a note. Morgan Stanley said the market is likely overlooking the Canadian-based company's progress on improving core profit margins. Morgan Stanley downgraded the intimate apparel maker to underweight due to expectations for negative earnings per share revisions.
Persons: Baird, Warren Buffett, Morgan Stanley, Tyson, StreetAccount, Bausch, Coinbase, Li Auto, Alex Harring, Jesse Pound, Samantha Subin, Hakyung Kim, Sarah Min, Matthew Staver Organizations: Berkshire Hathaway, Berkshire, Micron Technology, Spirit Airlines, Paramount, Paramount Pictures, CBS Entertainment Group, Sony Pictures Entertainment, United States Steel, . Steel, Nippon Steel, Medical Properties, Health Care, EHang Holdings, Barclays, Micron Technology Inc, Bloomberg, Getty Locations: The Boise , Idaho, Berkshire, Pittsburgh, China, Weibo, Boise , Idaho
In this article BRK.A Follow your favorite stocks CREATE FREE ACCOUNTWarren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2024. The death of Munger last year brought the question of succession to the forefront of many investors' minds at this year's shareholders meeting. Warren Buffett and Greg Abel during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. At the 2015 meeting, for example, he observed, "Warren, if people weren't so often wrong we wouldn't be so rich." Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024.
Persons: Warren Buffett, David A, CNBC Warren Buffett, Charlie Munger, Munger, Buffett, Greg Abel, Ajit Jain, Berkshire Hathaway, he'd, Abel, Greg, CNBC Abel, that's, Munger's, Warren Organizations: Berkshire, Grogen, CNBC, Berkshire Hathaway, Berkshire Hathaway Energy, Oracle Locations: Omaha , Nebraska, mull, Berkshire, Omaha
But I said nothing at first — I was too lost in thoughts, visions of ultrasounds, doctors, and grief. Because I'm 37 — which is considered an advanced maternal age — I had an ultrasound at eight weeks. I wasn't prepared for the grief of my second miscarriageI learned then that preparation does absolutely nothing to protect you from the devastation you feel in this situation. "Advanced maternal age" kept echoing in my mind — a term that feels like a verdict, a reminder that time is not on my side. Fear of the unknown, fear of the challenges that come with being an older mother, fear of facing another loss.
Persons: , would've, wasn't, I'd, who'd Organizations: Service, Business
OMAHA, Neb. — Warren Buffett said that Berkshire Hathaway is looking into an investment in Canada. "We do not feel uncomfortable in any shape or form putting our money into Canada," he told an arena full of investors Saturday. But Buffett noted the similarity in operations between the Canada and the U.S."There's a lot of countries we don't understand at all," Buffett said. "So, Canada, it's terrific when you've got a major economy, not the size of the U.S., but a major economy that you feel confident about operating there."
Persons: — Warren Buffett, Berkshire Hathaway, He's, Buffett, you've Organizations: Home Capital Group, Oracle Locations: OMAHA, Neb, Berkshire, Canada, Omaha, U.S
The Berkshire Hathaway annual shareholders meeting Saturday will be broadcast exclusively on CNBC and livestreamed on CNBC.com. Chairman and CEO Warren Buffett is expected to field questions from Berkshire Hathaway shareholders who are attending the meeting in Omaha, beginning at 10:15 a.m. The event is always closely watched, but this year's will be noteworthy because Buffett won't have Charlie Munger by his side. Munger, the former vice chairman of Berkshire, was known for his sharp wit, and his absence is being felt by the thousands attending the event. Among the questions that will be top of mind at the "Woodstock or Capitalists" will be what Buffett's mystery holding is.
Persons: Warren Buffett, Berkshire Hathaway, Buffett, Charlie Munger, Munger Organizations: Berkshire Hathaway, CNBC, Berkshire Locations: Omaha, Berkshire, Woodstock
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