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☆ Summer box office bust? This season's movie slate could put up the lowest haul in decades
▼ + stars: | 2024-05-08 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

For the first time since 2009, the box office doesn't have a Marvel film to kick off the summer movie season — and it shows. This year, the headline film for the first summer weekend was Universal's "The Fall Guy." The result could send the 2024 summer box office down as much as $800 million compared to 2023, according to Comscore's Paul Dergarabedian, and have ripple effects for the whole year. At present, analysts believe the summer movie season will exceed $3 billion in ticket sales, but just barely. Before Covid, the summer box office consistently topped more than $4 billion.

Persons: Guy, Ryan Gosling, Emily Blunt, Eric Handler, Roth MKM, bode, Comscore's Paul Dergarabedian, doesn't Organizations: Labor, Disney Marvel

☆ How Ford can challenge a powerful Chinese EV maker's potential entrance in the U.S.
▼ + stars: | 2024-02-27 | by ( Paulina Likos | ) www.cnbc.com time to read: +10 min

Forget Tesla , the real competition in electric vehicles is low-cost Chinese automakers. Farley wants to be prepared even if the U.S. government were to step in to curtail Chinese automakers' access. Outlook Ford investors shouldn't be concerned in the short term since Chinese EV competitors won't enter the market overnight. To that end, a group of lawmakers has urged the White House to boost tariffs on Chinese vehicles and figure out a way to be "prepared to address the coming wave" of Chinese vehicles by way of U.S. other trading partners. The cost of production will become more efficient, resulting in a more competitive and hopefully profitable Ford EV product.

Persons: Forget Tesla, Jim Farley, BYD, Ford, Farley, —, Warren, Berkshire Hathaway, Morgan Stanley, I've, Tom Narayan, Stellantis, Narayan, Tesla, Jim Cramer, Jim, It's, RBC's Narayan, Ford's Farley, Wolfe, Jeff Windau, Edward Jones, shouldn't, Biden, Windau, doesn't bode, Jim Cramer's, Charly Triballeau Organizations: Nikkei, Wolfe Research, Ford, RBC Capital Markets, U.S, EV, Detroit, General Motors, Chrysler, Ford Blue, Ford Pro, Ford Model, CNBC, ICE, Ferrari, North, Outlook, Bloomberg, Ford EV, American EV, AFP, Getty Locations: U.S, Mexico, China, Europe, Indonesia, Hungary, Thailand, Inwood , New York

☆ 30-year mortgage rate rises to the highest level in 2 months
▼ + stars: | 2024-02-14 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

The 30-year fixed mortgage rate spiked to 6.87% in the last week, the highest level in two months. Elevated borrowing costs for prospective buyers sent mortgage applications lower. A hot inflation report for January is likely to keep borrowing costs elevated as the Fed stays hawkish. The 30-year fixed mortgage rate jumped to 6.87% in the week ending February 9th, marking the highest level since early December 2023's average of 6.43%, according to Mortgage Bankers Association data released on Wednesday. AdvertisementThe uptick in mortgage rates reversed the declines seen over the past few months.

Persons: —, Joel Kan, bode, Redfin Organizations: Service, Mortgage Bankers Association Locations: American

☆ Why the Year of the Dragon doesn't bode well for China’s declining population
▼ + stars: | 2024-02-14 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

In this zodiac cycle, those born between Feb.10, 2024 and Jan. 28, 2025 will be classified as "Dragon babies." While people in China also hold these beliefs, birth rates in the country have actually fallen during the "Dragon Years." For instance, Singapore's birth rates rose by 21% in 1988, and 8% in 2000 and 2012. Asian folklore, however, may not be able to do much for China's falling birth rates, which could continue to drop "quite precipitously," Tay warned. China's birth rates have seen a secular decline, falling to 6.39% in 2023 from 22.37% in 1988.

Persons: Jacelyn Phang, feng, Yuan Zhong Siu, Phang, Erica Tay, Maybank, Tay, Tianchen Xu Organizations: CNBC, The Economist Intelligence Locations: China, Asia

☆ Biden and Xi are glaringly absent from the UN's climate summit. That doesn't bode well for the world.
▼ + stars: | 2023-12-01 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

World leaders are gathering in the UAE for the COP28 climate change summit. But President Joe Biden and Xi Jinping of China will be absent. But the leaders of the world's biggest polluting nations — President Joe Biden and China's leader Xi Jinping — will be conspicuous by their absence. AdvertisementA man walks past a COP28 sign during the United Nations climate summit in Dubai on December 1, 2023. Xi and Biden are doing little to signal their commitment to sharing the burden of reducing the climate crisis equally by not attending the summit, say critics.

Persons: Joe Biden, Xi, King Charles, Pope Francis, Xi Jinping, LUDOVIC MARIN, Biden, Kamala Harris, John Kerry, Xie Zhenhua, Tom Evans, Evans, Sultan Al Jaber, Kerry Organizations: Service, United Arab Emirates, White, Sunday, US, Democratic, APEC, BBC, Climate, Business, Sierra Club Locations: UAE, China, United Nations, Dubai, Biden's, Xi, San Francisco

An electric vehicle charge station by ChargePoint, Inc. is seen in Manhattan, New York, U.S., December 8, 2021. REUTERS/Andrew Kelly Acquire Licensing RightsNEW YORK, Nov 17 (Reuters) - ChargePoint Holdings' (CHPT.N) stock slumped by nearly 38% to a record low on Friday after the electric vehicle (EV) charging network slashed its third quarter revenue forecast and replaced key executives. California-based ChargePoint also announced that longtime Chief Executive Pasquale Romano will be replaced by Rick Wilmer, its chief operating officer, effective immediately. The shares of other major EV charging network providers besides ChargePoint were also trading lower. But they downgraded the company to "perform" from "outperform" citing the executive departures, choppy demand, and "potential for further organizational changes."

Persons: Andrew Kelly, ChargePoint, Pasquale Romano, Rick Wilmer, Rex Jackson, Mansi Khetani, Cowen, Oppenheimer, Needham, ChargePoint F3Q, Bill Peterson, bode, Colin Rusch, Chibuike Oguh, Lance Tupper, David Evans Organizations: ChargePoint, REUTERS, ChargePoint Holdings, Reuters Graphics, JPMorgan, EV, EVgo, Thomson Locations: Manhattan , New York, U.S, North America, Europe, California, New York

☆ The Federal Reserve leaves rates unchanged. Here's what that means for your wallet
▼ + stars: | 2023-11-01 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

watch nowThe Federal Reserve left its target federal funds rate unchanged for the second consecutive time Wednesday. What the federal funds rate means for youThe federal funds rate, which is set by the central bank, is the interest rate at which banks borrow and lend to one another overnight. To a certain extent, many households have been shielded from the brunt of the Fed's rate hikes so far, House said. As the federal funds rate rose, the prime rate did as well, and credit card rates followed suit. If the 10-year yield stays near 5%, federal student loan interest rates could increase again when they reset in the spring, costing student borrowers even more in interest.

Persons: Brett House, that's, Sung Won Sohn, Sohn, bode, Greg McBride, Sam Khater, Freddie Mac's, Tiffany Hagler, Bankrate, Jacob Channel Organizations: Federal Reserve, Fed, Columbia Business School, Loyola Marymount University, SS Economics, Treasury, Geard, Bloomberg, Getty, Auto Locations: Larchmont , New York

☆ Analysts bail on solar stocks after SolarEdge warning of weak earnings
▼ + stars: | 2023-10-20 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Solaredge 's warning on Thursday of weakening European demand was another red flag following what has already been a tumultuous year for the solar industry. Several Wall Street investment banks downgraded SolarEdge and slashed their price targets in reaction to the preannouncement. Deutsche Bank downgraded SolarEdge , along with peer solar stocks Sunrun and Sunnova , to a hold rating from buy. Analyst Corinne Blanchard halved SolarEdge's price target to $150 from $300, although this still implies 32% potential upside from the stock's Thursday close. Besides waning European demand, Blanchard highlighted that U.S. demand has also declined and may not bottom until early 2024.

Persons: Solaredge, Zvi Lando, Enphase, SunPower, Sunrun, bode, Gordon Haskett, Don Bilson, Corinne Blanchard, Blanchard, Goldman Sachs, SolarEdge, Goldman, Brian Lee, Oppenheimer, Roth, Philip Shen, Julien Dumoulin, Smith, Michael Bloom Organizations: Deutsche Bank, Bank of America Locations: California, SolarEdge, U.S

☆ Nike misses on revenue for first time in two years, but stock pops as earnings, margins beat
▼ + stars: | 2023-09-28 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +9 min

Nike reported revenue Thursday that fell short of Wall Street's sales expectations for the first time in two years, but it beat on earnings and gross margin estimates, sending its stock soaring in after-hours trading. Revenue for the quarter was just shy of the $12.98 billion analysts had expected, according to LSEG. For the second quarter, Nike expects revenue growth to be up slightly versus the prior year and gross margins to grow by about 1 percentage point versus the prior year. During the previous quarter ended May 31, Nike saw China sales jump 16% compared to the year-ago period. Analysts had expected sales to be about $660 million, according to StreetAccount.

Persons: Matthew Friend, They're, John Donahoe, he's, Friend, Jefferies, doesn't bode, It's Organizations: Nike, LSEG, Revenue, Investors, Reuters, Asia Pacific, Converse, Sporting Goods, Footlocker Locations: China, North America, Europe, East, Africa, America, Asia

☆ Lumber prices defy the most recent surge in mortgage rates to extend 3-day rally to 10%
▼ + stars: | 2023-09-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Lumber prices staged a 3-day rally of 10% despite continued headwinds in the housing market. The average 30-year mortgage rate closed in on 6% this week, hitting its highest level since 2008. The gains come despite continued headwinds in the housing market, particularly a surge in mortgage rates. Another builder in Harrisburg said it saw a big uptick in buying activity when mortgage rates briefly dipped in early August to 5%, signaling how strongly correlated mortgage rates are to home sales. There has been little lag between mortgage rates and a hike in the Federal Funds Rate, as has been seen when the Fed first began raising rates in March, precisely when mortgage rates also began to soar.

Persons: Homebuilders, doesn't bode, Freddie Mac, John Burns, Austin Organizations: Service, John Burns Real Estate Consulting, Federal Reserve, Fed Locations: Wall, Silicon, Tampa, Harrisburg, Philadelphia

NEW DELHI/BEIJING, Sept 5 (Reuters) - Chinese President Xi Jinping's decision to skip the G20 summit is being seen in host India as a snub to New Delhi and a new setback to the already frozen relations between the nuclear-armed Asian giants. Asked if Xi's decision reflects China-India tensions, Chinese foreign ministry spokesperson Mao Ning said that Beijing had supported India's hosting of the summit. China did not refer to any agreement and said Xi stressed improving ties helps both countries and global peace and stability. Shyam Saran, formerly India's top diplomat, said Xi's decision to skip the summit was "unusual". Happymon Jacob, who teaches international relations at New Delhi's Jawaharlal Nehru University, said Xi skipping the G20 summit "doesn't bode well" for India-China relations.

Persons: Xi Jinping's, Xi, Li Qiang, Mao Ning, Mao, Narendra Modi's, Baijayant Jay Panda, ”, China nosedived, Modi, Shi Yinhong, Shi, Shyam Saran, Saran, Happymon Jacob, bode, Jacob, Liz Lee Organizations: NEW, Bharatiya Janata Party, BJP, riling, China's Renmin University, Reuters, New, Jawaharlal Nehru University, Thomson Locations: NEW DELHI, BEIJING, India, New Delhi, China, Beijing, Johannesburg, Delhi, United States, riling Beijing, Japan, Australia, South China

☆ Economist David Rosenberg says a recession will hit in 6 months. Here are his 7 best quotes from a new interview.
▼ + stars: | 2023-09-04 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Top economist David Rosenberg expects a US recession to hit within 6 months. The Fed's 11 interest rate hikes amount to one of the most aggressive tightening campaigns ever, and to the economist, that doesn't bode well for the coming months. "We've had the biggest interest rate shock since 1981, if I'm not mistaken. "Most of these recessions [since World War II] were not caused by a fiscal shock, but interest rate shocks. "We've had a massive interest rate shock, we haven't seen the full impact yet.

Persons: David Rosenberg, Blockworks, Blockwork's Jack Farley, doesn't bode, We've, I'm, impact's, we're, it's Organizations: Morning, Rosenberg Research, Associates, Fed Locations: China, Federal, happenstance

☆ The new 'tone deaf' Bob Iger might just be focused on a Disney and Apple M&A
▼ + stars: | 2023-08-02 | by ( Peter Csathy | Fearless Media | ) www.businessinsider.com time to read: +6 min

Fearless Media is a newsletter about the future of entertainment, media, and tech by Creative Media chairman Peter Csathy . Disney CEO Bob Iger's comments regarding the strikers may hint at his deeper M&A state of mind. For the past decades, Disney CEO Bob Iger has been perhaps the most revered media and entertainment titan, beloved by both employees and Wall Street — a rare feat and balancing act to be sure. SAG President Fran Drescher joined voices across entertainment in calling Iger's comments "tone deaf" and rich for someone who reportedly makes more than 500 times the median salary of Disney employees. Peter Csathy is the founder and chairman of Creativie Media and an internationally recognized media, entertainment, and tech expert.

Persons: Peter Csathy, Bob Iger's, Iger, Bob Iger, —, Fran Drescher, Iger's, Sun, Tim Cook —, Steve Jobs, Rupert Murdoch, Palminteri, Keyser, doesn't bode, Read Organizations: Creative Media, Disney, Morning, Fearless Media, SAG, Mouse House, Marvel, Pixar, Apple, Wall, Fox Television, Wall Street, Hollywood, Creativie Media Locations: Sun Valley, Nice

☆ 'Dr. Doom' Nouriel Roubini says the US is bound for recession - thanks to high interest rates, sticky inflation and a credit crunch
▼ + stars: | 2023-06-15 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

The NYU professor said chances of a hard landing are higher as a combo of factors punishes the US. These include higher interest rates, sticky inflation, and a credit squeeze, Roubini said. Doom', doubled down on dire warnings about the US, saying the nation is headed for a recession as a combo of higher interest rates, sticky inflation, and a credit squeeze barrel the economy. That's due to concerns about sticky inflation – a market condition where prices remain resistant to change. Whether that recession is going to be short and shallow as opposed to more severe depends on many factors," Roubini said.

Persons: Doom, Roubini, —, Nouriel Roubini, it's, China doesn't bode Organizations: Service, Yahoo Finance, Federal Reserve Locations: China

Right now though, the market has never been more top-heavy and the share of market constituents outperforming the broader index has never been lower. According to Ed Clissold at Ned Davis Research, the percentage of stocks outperforming the S&P 500 this year is just 24.5%. The percentage of S&P 500 stocks outperforming the index on a rolling three-month basis is just 20.3%, a record low. Clissold says that the S&P 500's one-year gain after periods of relative strength by a small group of large caps is an average 1.8%. These five stocks account for over a quarter of the S&P 500's $36.78 trillion market cap, and the top 10 account for a third of the total.

Persons: bode, Ed Clissold, Ned Davis, Meb Faber, Chuck Prince's, Cambria's Faber, Jamie McGeever, Andrea Ricci Organizations: NYSE, Barclays, Apple, Microsoft, Nvidia, Ned Davis Research, Reuters, Google, Cambria Investment Management, Citigroup, Thomson Locations: ORLANDO, Florida

☆ Russia is claiming victory in Bakhmut, but the price it paid for it 'doesn't bode well' for Putin's bigger plans, experts say
▼ + stars: | 2023-05-22 | by ( Jake Epstein | ) www.businessinsider.com time to read: +11 min

Russian forces are claiming victory in Bakhmut, a city in eastern Ukraine's Donetsk region. Russian leadership praised Wagner for its achievements in the devastated city of Bakhmut and promised the presentation of state awards. Casualty estimates likely skew significantly higher for Russian forces. AdvertisementAdvertisementBy April 11, Russian forces occupied over 76 percent of the city, according to a terrain assessment from the ISW think tank. An aerial view of Bakhmut, the site of heavy battles with Russian troops in the Donetsk region, Ukraine, Sunday, March 26, 2023.

Persons: it's, —, Yevgeny Prigozhin, Volodymyr Zelenskyy, Gen, Oleksandr Syrskiy, Bakhmut, Wagner, ISW, Russia's, Vladimir Putin's, bode, Jeffrey Edmonds, Jens Stoltenberg, Marina Miron, Zelenskyy, Putin, Miron, Edmonds Organizations: Military, Service, Wagner Group, Institute for, CIA, AP Moscow, Russian, NATO, CNN, Moscow, AP, King's College London's Centre, Military Ethics, Bakhmut Locations: Bakhmut, Ukraine's Donetsk, Ukrainian, Moscow, Washington, Ukraine, Berlin, Soviet, Stalingrad, Russia, Kyiv, Donbas, Donetsk, Kramatorsk, Moreso

☆ Investors have pulled $8 billion from this pocket of the stock market in just 2 months on recessions worries and debt ceiling fears
▼ + stars: | 2023-05-17 | by ( Carla Mozée | ) www.businessinsider.com time to read: +4 min

Small-cap stocks have been hurt by $8 billion in outflows from ETFs focused on that segment, says Jefferies. That started in March when Silicon Valley Bank and Signature Bank were seized, spooking investors. "Banks are a big part of small caps and are headwinds for the size segment," Jefferies strategist Steven DeSanctis wrote in a Wednesday research note. Meanwhile, small-cap stocks, which make up just over 4% of the equity market, tend to perform worse than large-caps when the economy is veering into a recession. Meanwhile, the current stalemate between Republicans and Democrats on the debt ceiling doesn't bode well for small-cap stocks, which slid by 25% during 2011 debt standoff.

☆ Americans are keeping their cars longer amid sky-high prices, rising interest rates
▼ + stars: | 2023-05-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Cars, trucks, SUVs, and other vehicles drive in traffic on the 405 freeway through the Sepulveda Pass in Los Angeles, California, on August 25, 2022. DETROIT — The average age of passenger vehicles on U.S. roadways climbed to a record this year, as car owners hold on to their vehicles longer amid low supplies of new vehicles and sky-high prices. That includes a 3.8% increase for passenger cars to 13.6 years and a 1.7% uptick in trucks, SUVs and crossovers to 11.8 years. "The aftermarket and the repair market as a whole is definitely a winner as the average age continues to grow," said Todd Campau, associate director of aftermarket solutions for S&P Global Mobility. In total, S&P Global Mobility reports there are more than 284 million vehicles in operation on U.S. roads.

☆ The most important thing Warren Buffett said Saturday, and it isn't good news for the economy
▼ + stars: | 2023-05-08 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Investors always look to Buffett for economic insights as his myriad of businesses are closely tied to broader spending and overall demand. If you couldn't sell them one thing, they would put another thing in their backlog," Buffett said. Still, Buffett thinks Berkshire is positioned well in terms of its investment income as higher interest rates are earning the conglomerate a substantial return. Berkshire has fared well so far despite a challenging macro environment with operating earnings jumping 12.6% in the first quarter. "Nothing is sure tomorrow, nothing is sure next year, and nothing is ever sure, either in markets or in business forecasts, or in anything else," Buffett said.

☆ India's ties with Russia remain steady. But Moscow's tighter embrace of China makes it wary
▼ + stars: | 2023-05-03 | by ( Sumathi Bala | ) www.cnbc.com time to read: +7 min

(PRAKASH SINGH/AFP via Getty Images) Prakash Singh | Afp | Getty ImagesIndia's relationship with Russia remains steadfast as both sides seek to deepen their economic ties. Russia also wants to "intensify" free trade discussions with India, Deputy Prime Minister Denis Manturov said during a visit to Delhi. watch nowIt's becoming "more difficult with every passing day because of the closeness that we are witnessing between Beijing and Moscow," Pant noted. This defense cooperation is vital given India's tensions along the Himalayan border with an increasingly assertive China, said ORF's Pant. Now, the country cannot expect Russia to play "the same strategic role for India as it used to prior to the Ukraine war.

☆ The judge overseeing Trump's case donated $15 to Biden. Legal experts say it likely won't get him thrown off the case, but it'll 'feed the Trump PR beast.'
▼ + stars: | 2023-04-07 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +6 min

The NY judge handling Donald Trump's criminal case made a $15 donation to President Joe Biden's campaign in 2020. Legal experts told Insider that it likely won't get the judge thrown off the case. But it will "feed the Trump PR beast" and doesn't bode well for public perception, the experts said. Legal experts told Insider on Friday that the political donations likely won't get New York Supreme Court Justice Juan Merchan thrown off of Trump's case, but that it will "feed the Trump PR beast" and doesn't bode well for public perception. "The Trump people will pounce on that"Former President Donald Trump appears in court for his arraignment, on April 4, 2023 in New York.

☆ House Republicans in swing districts are so beholden to Trump they're not publicly opposing his pleas to defund law enforcement
▼ + stars: | 2023-04-06 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

After his arraignment, Trump called on GOP members of Congress to defund law enforcement. Following this, Punchbowl News reached out to 18 vulnerable House Republicans in swing districts. One day after his arraignment, Trump took to Truth Social in an all-caps tirade to express his desire to defund law enforcement. "REPUBLICANS IN CONGRESS SHOULD DEFUND THE DOJ AND THE FBI UNTIL THEY COME TO THEIR SENSES," Trump wrote. Following the former president's plea on social media, political outlet Punchbowl News asked the 18 Republican representatives in districts where President Joe Biden won in 2020 for comment.

☆ Markets and the economy survived a tough first quarter, but it's not going to get any easier
▼ + stars: | 2023-04-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +8 min

Despite peaks and valleys, stocks closed the first quarter on an up note, with the S & P 500 rallying more than 7% and the tech-fueled Nasdaq soaring about 16%. .SPX .DJI YTD line S & P 500 gains so far in 2023 Indeed, the market has lived through a lifetime of scary headlines in the first three months of 2023. Despite repeated protestations from Fed officials that they are taking the higher-for-longer approach on interest rates, markets still expect cuts. AAPL .SPX YTD mountain Apple compared to the S & P 500 Only five of the 11 S & P 500 sectors are positive for the year, despite the substantial rally for the index. The net profit margin for the S & P 500 also is expected to edge lower to 11.2%.

The chipmaker forecast current quarter revenue in the range of $8.7 billion to $9.5 billion, compared with analysts' estimates of $9.55 billion, according to Refinitiv data. Its fiscal first quarter revenue dropped 12% year-on-year to $9.46 billion, below Wall Street expectation of $9.60 billion as Qualcomm also grapples with weak demand for smartphones and a supply glut. Smartphone chip firms including Apple supplier Qorvo (QRVO.O) forecast downbeat earnings as its customers continued to clear bloated inventory. Analysts at Cowen expect smartphone shipments will fall 4% this year as recovery in China demand will take some time following a big COVID-19 outbreak. It expects adjusted earnings per share to be between $2.05 and $2.25, compared to analysts expectations of $2.26 per share.

☆ Bernstein downgrades Lululemon, warns a reset is coming for the apparel stock
▼ + stars: | 2023-01-24 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Lululemon is facing a growth inflection point — and it likely doesn't bode well for investors, Bernstein warned. "The expectations vs. reality gap has been our biggest concern this past year," she said in a note to clients Monday. 2022 marked what Sherman called a reprieve for those hoping Lululemon could avoid its fate of tapering-off after years of growth, as pent-up demand buoyed the business. That's because pent-up demand is almost met, and North American consumers are becoming more cautious. That puts Lululemon below other high-growth sportswear companies and its pre-Covid growth, Sherman noted.

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