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Police face pro-Palestinian protesters in central Malmo during the 68th edition of the Eurovision Song Contest (ESC) in Malmo Arena, Sweden, on May 9. More than 150 million people around the world will watch Saturday's Eurovision final on TV, and around 15,000 fans will gather inside the Malmo Arena. Those protesting or boycotting the song contest say it is “artwashing” the conflict; others defend Israel’s inclusion, insisting the contest should not be dragged into geopolitics. And they are leading to perhaps the tensest three minutes in the contest’s history, when Israel’s competitor, Eden Golan, performs live. “I would imagine the scale of it in Malmo would be bigger than anything we’ve ever seen before.”Read the full analysis.
Persons: Johan Nilsson, ” Paul Jordan, , Weeks, Eden Golan, ” Jordan, Organizations: Malmo Arena, Getty, Music, Malmo, Eurovision, CNN Locations: Malmo, Sweden, AFP, Swedish, Gaza, Israel
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer noted it's been a relatively muted week for economic news and Fed pronouncements. 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, it's, Jim, , Jim Cramer's, ABT Organizations: CNBC, Federal Reserve, Dow Jones, Abbott Laboratories, GE Healthcare, GE
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Thursday's full episode of the Halftime Report — May 9, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.
Persons: CNBC's Scott Wapner Organizations: CNBC PRO
Investors shouldn't be spooked by Affirm 's post-earnings sell-off, according to JPMorgan. Analyst Reginald Smith upgraded the buy-now-pay-later stock to overweight from neutral on Thursday, a day after the stock dropped following its latest earnings report. As Smith put it in the headline of his upgrade to clients, we're "not letting a good sell off go to waste." Affirm reported $576 million in revenue for the fiscal third quarter, topping the consensus forecast of $550 million from analysts polled by FactSet. The company also issued strong current-quarter guidance for revenue and gross merchandise volume, which is the total dollar amount of all transactions made through Affirm.
Persons: Reginald Smith, Smith, that's, Shopify Organizations: JPMorgan, FactSet, Bloomberg
That's because, taken together, the two primary Social Security funds are set to only be able to pay out full benefits through 2035; the Old-Age and Survivors Insurance Trust Fund, one of the main funds comprising Social Security, will start getting depleted in 2033. AdvertisementIn other words, the moment that today's older Gen Xers are ready to retire, their Social Security benefits could start to shrink. Gen Xers — born from 1965 to 1980 — have been deemed the country's "neglected middle child" by the Pew Research Center. And among the different generations, Gen Xers were the most likely to report that they were feeling financially insecure. That could set the stage for the new crop of Gen X retirees to arrive in an already-precarious retirement economy.
Persons: , Gen X, Xers, Gen Xers —, YouGov —, Gen Xers, X, Gen Zers, Gen, Michele Raneri, aren't, Xer Organizations: Service, Gen, Social Security, Insurance Trust Fund, Business, Security, Pew Research Center, of Congress, Millennials, TransUnion, Survey, Alliance, Lifetime, Income
The Dow Industrials represent the productive capacity of the economy, as its original focus was on the goods-producing sector. Over recent decades, the 30-stock Dow Industrials has been expanded to include important tech, telecom and services companies. The Dow Transports, whose constituents move goods and passengers across the country and around the globe, represent final demand. .DJI .DJT YTD line The Dow Industrials vs. Dow Transports in 2024 At the moment, the divergence is relatively mild. The Dow Theory might still have the benefit of experience and wisdom.
Persons: Dow Industrials, that's, it's, Ron Insana Organizations: Dow, Dow Jones Industrial, Dow Jones Transportation, Dow Transports, Transports, Utilities, Dow Theory, Federal Reserve, CNBC Locations: U.S
While he pulled back his price target to $26 from $32, the new target still indicates shares surging 126% from Wednesday's close. Fox's fiscal third quarter results came above Rief Ehrlich's expectations, which she noted were encouraging "amid a difficult linear advertising environment." — Fred Imbert 5:50 a.m.: Wall Street on the sidelines for Airbnb Airbnb's weaker-than-expected forward guidance has analysts worried about the company's growth outlook. Post pulled back his price target by $8 to $160, just 1.3% above where shares closed on Wednesday. Meanwhile, analyst Eric Sheridan moved his price target slightly higher to $130 from $123, suggesting around 18% downside.
Persons: Raymond James ., Jefferies, Dushyant Ailani, Ailani, — Hakyung Kim, Jessica Reif Ehrlich, … Fox, Davidson downgrades, Davidson, Tom White, Tripadvisor, we'd, White, Hakyung Kim, Raymond James Cheesecake Factory, Raymond James, Brian Vaccaro, Vaccaro, Andrew Boone, Shopify, Boone, Fred Imbert, Airbnb, LSEG, Morgan Stanley, Brian Nowak, Nowak, Bank of America's Justin Post, Post, Goldman Sachs, Eric Sheridan Organizations: CNBC, JPM Securities, Cheesecake, Bank of America, Fox, Media, of America, , Factory, Cheesecake Factory, JMP Securities, Bank of America's Locations: Wednesday's, 2H24
These stocks could be poised to join the S & P 500 when the broad index undergoes its quarterly rebalance next month, according to some Wall Street analysts. Keefe Bruyette & Woods also views a financial services stock as a likely addition to the S & P 500, citing the sector's underweight position. There's a "mid to high probability" that Erie resettles in the S & P 500. The S & P 500 isn't the only index poised for potential changes. Gandhi sees a strong likelihood that Ryan Specialty Holdings joins the S & P Midcap 400, while New York Community Bancorp could drop down to the S & P SmallCap 600 .
Persons: Ramsey El, Bancorporation, Assal, Keefe, Woods, Shreyank Gandhi, Gandhi, Dell Organizations: Barclays, Micro Computer, Whirlpool, Software, Services, KKR, Apollo Global Management, Erie resettles, Specialty Holdings, New, New York Community Bancorp, Axis Capital Holdings, BOK Locations: Erie, New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Thursday's full episode of Mad Money with Jim Cramer — May 9, 2024"Mad Money" host and former hedge fund manager, Jim Cramer, provides stock traders with all manner of investing advice.
Persons: Jim Cramer —, Jim Cramer
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRobinhood's crypto transaction revenue soars 232% from a year ago: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Lou Frangella, head of brand partnerships at Kraken, discusses why the crypto exchange is looking to Formula 1 fans to boost crypto adoption.
Persons: explainers, Lou Frangella Organizations: CNBC Crypto, CNBC
Here are Thursday's biggest calls on Wall Street: Goldman Sachs reiterates Sunrun as buy Goldman said it's sticking with its buy rating following earnings on Wednesday. " JPMorgan reiterates SolarEdge as overweight JPMorgan said it's sticking with its overweight rating following earnings on Wednesday. " Citi reiterates Airbnb as buy Citi said it's standing by its buy rating on shares of Airbnb following earnings on Wednesday. JPMorgan reiterates Instacart as overweight JPMorgan said it's sticking with its overweight rating on shares of Instacart following earnings on Wednesday. Bank of America reiterates Apple as buy Bank of America said it's sticking with its buy rating following data showing App Store strength.
Persons: Goldman Sachs, Sunrun, Goldman, JPMorgan, SEDG, Shopify, Redburn, Mizuho, Robinhood, Airbnb, Davidson downgrades TripAdvisor, Raymond James, Fox, Cantor Fitzgerald, Cantor, EVGO, it's, Wolfe, Skyworks, SWKS, we're Organizations: JPMorgan, Bloomberg, Holdings, Deutsche Bank, Emerson, Deutsche, Citi, Bank of America, Fox, of America, Solutions, Barclays, UBS, Costco, Apple Locations: EBITDA
Thursday's gains put the S & P 500 less than 1% away from its record close on March 28. Tech sits out: The only S & P 500 sector in the red Thursday was technology. A bunch of solar stocks, which fall under the tech bucket, were lower after SolarEdge gave disappointing second-quarter guidance. S & P leaders: The top-performing sectors in the S & P 500 on Thursday were real estate, utilities and energy. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Dow, Stocks, We'll, we'll, SolarEdge, It's, Jayshree, What's, Jim Cramer's, Jim Organizations: CNBC, University of Michigan's, Tech, Arm Holdings, Arista Networks, Dow, Utilities, Technologies, Insulet Corp, Akamai Technologies, Jim Cramer's Charitable Locations: SolarEdge, Salesforce
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
Initial claims climbed to 231,000 last week, marking the highest level since August. A handful of disappointing earnings results have come at the tail end of an otherwise upbeat season. AdvertisementMajor stock indexes were mixed on Thursday as traders mulled a fresh job report that showed the labor market cooling. A handful of disappointing earnings reports have capped off what's otherwise been a fairly upbeat earnings season. Markets will be tuned into more Fed speakers Thursday and Friday.
Persons: Stocks, , Mary Daly, Michelle Bowman Organizations: Service, Federal Reserve, Treasury, Labor Department, Dow Jones, Warner Bros, San Francisco Fed, Dow, Nasdaq Locations: Here's
AI chatbots are expected to replace 20-30% of customer service agents by 2026, according to Gartner. Despite the potential savings and efficiency, AI customer service has seen limited adoption. AdvertisementGen Z hates talking on the phone, so companies like the $9.7 billion buy-now, pay-later giant Affirm are betting big on AI-powered chatbots. AI customer service hasn't been a panacea for all businesses, though. People tricked and hacked a car dealership's customer service AI in December, and in January, a UK mail service's bot swore at a customer.
Persons: , Max Levchin, We've, Levchin, chatbots, that's, Deb Cupp, Mihir Shukla, hasn't Organizations: Gartner, Service, PayPal, Tech, Microsoft Locations: Davos
CNBC Markets Now: May 9, 2024
  + stars: | 2024-05-09 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Markets Now: May 9, 2024CNBC Markets Now provides a look at the day's market moves with commentary and analysis from Michael Santoli, CNBC Senior Markets Commentator.
Persons: Michael Santoli Organizations: CNBC
Watch Thursday's full episode of Fast Money — May 9, 2024
  + stars: | 2024-05-09 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Thursday's full episode of Fast Money — May 9, 2024"Fast Money" is America's post-market show. Hosted by Melissa Lee and a roundtable of top traders, "Fast Money" breaks through the noise of the day, to bring you the actionable news that matters most to investors.
Persons: Melissa Lee
Astronomic inflation in Argentina has caused the government to higher denominations of the country's peso. The central bank next month will issue a 10,000 peso note, worth about $11 based on Thursday's exchange rate. AdvertisementInflation is so bad in Argentina that the central bank will issue 10,000 peso notes to relieve people from the burden of having to haul bags of cash around for day-to-day needs. The note, worth about $11 based on Thursday exchange rates, tops the 2,000 peso note as the country's biggest bill. Meanwhile, the central bank also announced that it will launch a larger bill — a 20,000-peso note — later this year.
Persons: , Javier Milei Organizations: Service, Associated Press Locations: Argentina
In this article WBD Follow your favorite stocks CREATE FREE ACCOUNTIn this photo illustration, the Warner Bros. Here is how Warner Bros. Discovery performed, compared with estimates from analysts surveyed by LSEG: Loss per share: 40 cents vs. 24 cents loss expected40 cents vs. 24 cents loss expected Revenue: $9.96 billion vs. $10.231 billion expected Warner Bros. Warner Bros. While NBCUniversal holds the U.S. rights for the Olympics, airing the games on its TV networks and Peacock streaming service, Warner Bros.
Persons: Rafael Henrique, Discovery, , Max, Hulu —, I've, David Zaslav, Zaslav, NBCUniversal, Discovery's Max Organizations: Warner Bros, Getty, Discovery, TNT, Justice League, Disney, Hulu, CNBC, Warner Bros . Discovery, Fox Corp, Sports, NBA, Olympics Locations: U.S, Paris, Europe
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking at how Corporate America is rethinking its sustainability and diversity efforts amid a push to avoid being labeled "woke." The rallying cry against companies' progressive campaigns is starting to leave a mark on Corporate America. AdvertisementAfter years of big promises and grand plans around social issues like diversity and sustainability, companies have taken a noticeable step back , Business Insider's Emily Stewart writes. The electric car maker axed more than 3,400 job postings in North America down to just three on Wednesday.
Persons: , let's, wokening Brooks Kraft, Emily Stewart, Emily, ESG, hasn't, Peter Thiel, Donald Trump's, Bud Light, influencer Dylan Mulvaney, Rock, Saul Loeb, Chelsea Jia Feng, Wall, Warren Buffett, It's, Justin Sullivan, Elon, Eric Schmidt, Steve Mnuchin, Kevin O'Leary, salespeople, BI's Rob Price, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, wokening Brooks Kraft LLC, Corporate America, Trump Media, Getty Images, of America, Berkshire Hathaway's, People's Bank of China, Chelsea, Microsoft, Google, YouTube, Netflix Locations: America, Beijing, North America, New York, London
Goldman Sachs says Sunrun shares are poised for a big increase after being on a downward trend all year. "RUN continues to expect a 1Q24 trough with an inflection in 2H24," Goldman Sachs analyst Brian Lee wrote in a note on Thursday. Goldman reiterated its buy rating on the shares and $18 price target, implying more than 50% upside from Wednesday's closing price. Sunrun shares are down about 42% for the year. RUN YTD mountain Sunrun shares are down 41% in 2024 — CNBC's Michael Bloom contributed reporting.
Persons: Goldman Sachs, Brian Lee, Goldman, , Michael Bloom
Select Water Solutions will be a winner thanks to its recent business changes, according to Citi. The company, which provides sustainable water services for the oil and gas industry, recently began a strategic pivot toward its water infrastructure business, which is focused on the management and recycling of produced water. The analyst noted that Select Water Solutions is currently trading at a discount to its peers. The company is currently trading at a little over four times its earnings before interest, taxes, depreciation and amortization over the next 12 months, while its competitor Aris Water Solutions is trading near a 6.5 multiple, he added. Further, the downside risk to slowing demand for frac water appears to have passed with higher oil prices," Gruber said.
Persons: Scott Gruber, Gruber Organizations: Citi, Solutions, Aris Water Solutions, M
Goldman Sachs and JPMorgan think steel producer Ternium can strengthen its presence in South America resulting in big upside for the stock. JPMorgan has an outperform rating on Ternium stock, with a $54 per share price target which equates to nearly 33% upside from Monday's $40.31 close. Goldman Sachs, meanwhile, is buy rated on Ternium with a $51 per share price target, or about 27% upside moving forward. TX YTD mountain Ternium stock. The firm's $47 per share price target amounts to nearly 17% upside moving forward.
Persons: Goldman Sachs, Goldman, Morgan Stanley Organizations: JPMorgan, U.S Locations: South America, America, Argentina, Brazil, Columbia, Guatemala, Mexico
Brauns | E+ | Getty ImagesJust 4% of today's retirees said they are "living the dream," according to a new survey from asset management company Schroders. Image Source | Getty ImagesThe Schroders survey results come as more experts are pointing to a potential retirement crisis. "The retirement savings crisis in the United States is no longer looming: it is here, now," said a new report from the National Institute on Retirement Security. Not everyone agrees there is an emergencySome experts are skeptical there is a retirement savings crisis at all. Of seniors with more than $10,000 in retirement savings, 93% said they were doing okay or living comfortably.
Persons: , Deb Boyden, That's, Warren Buffett's, Boyden, Andrew Biggs, George W, Bush, EBRI, Biggs Organizations: Getty, National Institute on Retirement Security, Finance, American Enterprise Institute, Social Security, Northwestern Mutual, Research Locations: , United States
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
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