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☆ Tension with Israel represents only one of Biden’s immense election challenges
▼ + stars: | 2024-05-10 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

New York prosecutors claim he falsified business records to hide a payment to Stormy Daniels in an early act of election interference in 2016. Trump’s base voters have no problems either with his criminal trials or his false claims that he was cheated out of office. Israel may be far from the biggest worry for Trump’s campaignPolls consistently show that voters care most about the economy. And voters who say the economy is very important to their vote backed Trump over Biden 62% to 30%. It’s not clear that heated Republicans attacks on Biden over Israel Thursday will seriously wound him with his own voters.

Persons: Joe Biden, Biden, Donald Trump –, pollsters, Trump, Stormy Daniels, He’s, Biden outpolls, Trump’s, CNN’s Erin Burnett, Burnett, ”, ” Biden, ’, George H.W, Bush, ” Bush, Bill Clinton, Clinton, Israel —, Benjamin Netanyahu, Netanyahu, Republican Sen, Thom Tillis, GOP Sen, Josh Hawley Organizations: CNN, New, Republican, Biden, Federal, Capitol, Arab American, Hamas, Israel, Israel Thursday, GOP, Capitol Hill, Democratic Locations: Wisconsin, East, Ukraine, Gaza, America, Manhattan, New York, it’s, Israel, United States, Arkansas, Scranton, Gazan, Rafah, Michigan, Missouri

☆ Biden’s antisemitism speech leaves no doubt he’s standing by Israel despite tension with Netanyahu
▼ + stars: | 2024-05-07 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

CNN —The political rawness of the moment, as Israel pounds Gaza and outrage rocks American college campuses, means President Joe Biden’s big speech Tuesday condemning antisemitism is most notable for what he left unsaid. The speech was closely watched given the turmoil in the Middle East and its stunning political reaction in the US. “My commitment to the safety of the Jewish people, the security of Israel, and its right to exist as an independent Jewish state is ironclad. While praising the right to free speech as a fundamental American value, he condemned reported instances when some Jewish students have faced antisemitic taunting. Understanding history and preventing it from being manipulated for political gain was a major focus of Biden’s speech, which was delivered on the 79th anniversary of VE Day, when the allies defeated Nazism in World War II.

Persons: Joe Biden’s, movingly, you’re, ” Biden, Biden, Benjamin Netanyahu, ”, Joe ”, We’re, Biden’s, Donald Trump, Trump, Stormy Daniels, “, ” Johnson, Netanyahu, —, Mike Johnson, ’ Organizations: CNN, Jewish, Hamas, Holocaust Memorial, Capitol, Arab, Israel, Gaza Health Ministry, Democratic, Trump, Republicans, Republican, Louisiana Republican, White, GOP, Nazism Locations: Israel, Gaza, Nazi, Rafah, Michigan, Manhattan, Nazi Germany, United States, Louisiana, Charlottesville , Virginia, Gestapo

☆ The Bitcoin network completes the fourth-ever ‘halving’ of rewards to miners
▼ + stars: | 2024-04-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

watch nowThe Bitcoin network on Friday evening completed its fourth "halving," reducing the rewards earned by miners to 3.125 bitcoins from 6.25. After the 2012, 2016 and 2020 halvings, the bitcoin price ran up about 93x, 30x and 8x, respectively, from its halving day price to its cycle top. Hash rates are a measure of the computational power used to process transactions on the bitcoin network. "The market so far has seen bitcoin mining stocks as mere BTC proxies, in absence of bitcoin ETFs," said Bernstein analyst Gautam Chhugani. "[The] Bitcoin halving is already partially priced in by the market and we do not expect prices to increase significantly following the halving event," the firm's Marion Laboure said in a note Thursday, adding that it "has been widely anticipated in advance due to the nature of the Bitcoin algorithm."

Persons: Reginald Smith, Bernstein, Gautam Chhugani, MARA, Nikolaos Panigirtzoglou, Marion Laboure Organizations: Metrics, JPMorgan, BTC, IRIS, Deutsche Bank Locations: Friday's

☆ American Eagle unveils strategy to grow profits, takes $94 million in impairment charges for logistics business
▼ + stars: | 2024-03-07 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

Excluding one-time items, American Eagle posted adjusted earnings of 61 cents per share. In the current quarter, American Eagle expects sales to be up by a mid-single digit percentage, which is in line with estimates of up 5%, according to LSEG. During the Covid pandemic, American Eagle spent hundreds of millions of dollars acquiring a number of shipping and distribution companies that eventually became Quiet Platforms, the retailer's internal logistics branch. Last spring, American Eagle acknowledged that Quiet Platforms wasn't performing as it had expected. To increase profits, American Eagle plans to amplify its brands by growing its namesake banner, boost Aerie's expansion and develop the activewear assortment at its Offline banner.

Persons: RetailDive, Mike Mathias, Mathias, AEO, StreetAccount, we've, rationalizing, Jennifer Foyle, there's, It's, Foyle Organizations: LSEG, Eagle, CNBC, Abercrombie, Fitch

So it was surprising that the end of Sunday night’s season premiere of “Curb Your Enthusiasm” — look out, spoilers coming — took pretty, pretty, pretty clear aim at the major voting law Georgia passed in 2021. Larry David, who as the show’s curmudgeonly star is better known for breaking social norms than actual laws, travels to Atlanta in the episode. “Sir, in the navy blazer, put your hands in the air,” an officer says to a confused Mr. David. In another episode, the cantankerous Mr. David realizes that wearing a “Make America Great Again” hat around liberal Los Angeles gets him out of many unwanted meetings and interactions. In an interview with TheWrap, one of the show’s executive producers said that its writing team had decided to somehow incorporate the Georgia law back when it passed two years ago.

Persons: “, Georgia, Larry David, Leon, she’s, Larry, Sir, David, ”, Donald J, Trump, ” Jordan Fuchs, David —, Elmo, David’s, TheWrap, Jeff Schaffer, ’ Organizations: Recreation, Los Angeles Locations: “, Atlanta, Georgia, Fulton

☆ Ford is reassessing its EV plans, including vertical battery integration
▼ + stars: | 2024-02-06 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — Ford Motor is rethinking its electric vehicle strategies, including "reassessing" the need for vertical integration of batteries, CEO Jim Farley said Tuesday. He also said the company is pulling a target for its EV unit that called for 8% margin by 2026. As Ford pulls back and reevaluates the EV business, it intends to lean in on sales of hybrid vehicles, specifically trucks. The company expects its hybrid sales to increase 40% this year. It sold 133,743 hybrid vehicles in the U.S. in 2023.

Persons: Jim Farley, Farley, John Lawler, Lawler, Ford Organizations: New York, Auto, DETROIT, Detroit, Ford, EV, CNBC PRO Locations: New York, U.S

☆ At SpaceX, worker injuries soar in Elon Musk’s rush to Mars
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +35 min

Through interviews and government records, the news organization documented at least 600 injuries of SpaceX workers since 2014. The more than 600 SpaceX injuries Reuters documented represent only a portion of the total case count, a figure that is not publicly available. SpaceX injury data reporting failures SpaceX facilities failed to submit injury data annually, as required by regulators, for most years since 2016. Workers welded rocket parts up to 12 hours a day, six days a week, often in temperatures over 100 degrees Fahrenheit, the SpaceX workers said. The accident occurred when he and other SpaceX employees were being transferred between two vessels.

Persons: Lonnie LeBlanc, LeBlanc, LeBlanc’s, hasn’t, Musk, ”, Tom Moline, Francisco Cabada, Cabada’s, Elon Musk, Ydy Cabada, Kennedy didn’t, Kennedy, “, Jordan Barab, Travis Carson, Carson, entrepreneurism, Jeff Bezos, Chris Cunnington, Phillip Fruge, ” Fruge, ” Carson, Elon, Carson “, Florentino Rios, Rios, Rios inched, Richard Hinojosa, ” Rios, Cabada, Ydy, SpaceX hasn’t, Michael Sanchez, ” Sanchez, Francisco’s, Evelyn Cabada, ” Barab, Boring, Paige Holland, Musk’s, Moline, Gwynne Shotwell, ” Shotwell, Shotwell, CalOSHA, Ann Rosenthal, Steven Trollinger’s, Trollinger, –, Chris Weimer, Ron Weimer Organizations: Elon, SpaceX, U.S . Marine Corps, U.S . Occupational Safety, Health Administration, OSHA, Musk’s, V2, Reuters, Regulators, Kennedy Space Center, U.S . National Aeronautics and Space Administration, NASA, ” Reuters, California OSHA, CalOSHA, ”, Workers, Boeing, Cabada, Boring Company, National Labor Relations Board, billionaire’s, Federal Locations: McGregor , Texas, LeBlanc, amputations, Hawthorne , California, Brownsville , Texas, Redmond , Washington, Florida, Cape Canaveral, California, Brownsville, Texas, Mexico, Moline, Carson, American, SpaceX’s Brownsville, Rios, Hawthorne, Los Angeles, “, ” Holland, Thielen, Holland, Federal, After Texas

☆ WeWork to withhold interest payment on some notes
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +1 min

WeWork logos are seen at a WeWork office in San Francisco, California, U.S. September 30, 2019. REUTERS/Kate Munsch/File Photo Acquire Licensing RightsOct 2 (Reuters) - WeWork Inc (WE.N) on Monday said it had decided to withhold interest payments of about $95 million related to some of its notes, as it tries to improve its capital structure. The company has a 30-day grace period to make the interest payments before a non-payment can be considered an "event of default", WeWork said in a regulatory filing. The company has the liquidity to make the interest payments and may decide to pay "in the future", it added. The company withheld interest payments of about $37.3 million payable in cash and $57.9 million of payment-in-kind (PIK) notes, each payable on Monday.

Persons: Kate Munsch, SoftBank, WeWork, Shivansh, Maju Samuel Organizations: REUTERS, WeWork, New York Stock Exchange, Thomson Locations: San Francisco , California, U.S, Bengaluru

☆ Fanatics and ESPN are ready to shake up sports betting this fall. Here are the 5 battlegrounds to watch during the biggest gambling season of the year.
▼ + stars: | 2023-09-08 | by ( Ashley Rodriguez | Margaret Fleming | ) www.businessinsider.com time to read: +10 min

The start of the regular NFL season kicks off the biggest sports-betting season of the year. Here are the battlegrounds to watch as Fanatics and ESPN Bet enter and Bet365 gains share. The NFL kicked off Thursday night, and so did the biggest season of the year for US sports betting. It ranked fourth among more than 40 apps in EKG's national panel of "secret shopper"-style app testers — behind only FanDuel, DraftKings, and PointsBet. "There's one strategy: you have to be early, you have to be ahead of the start of the season," Beynon said.

Persons: We've, Macquarie, Chad Beynon, Bet365, Chris Krafcik, Krafick, EKG, Penn, It's, Sportsbook, isn't, Beynon, That'll, DraftKings, it's, BetMGM, Entain, Wynn Organizations: NFL, Bank of America, ESPN Bet, Penn Entertainment, Fox, Krejcik, ESPN, DraftKings, Penn, BetMGM, Caesars, MGM, Angstrom Sports, Wynn Resorts, Rush, Interactive Locations: Ohio, Colorado, Virginia, BetMGM, FanDuel, Macquarie, Las Vegas, Chicago, Connecticut

☆ Injuries make the NFL a brutal sport. But the violence is partly why fans love it
▼ + stars: | 2023-09-06 | by ( Leah Asmelash | ) edition.cnn.com time to read: +11 min

And because of what he now knows about football injuries, NFL players don’t seem so superhuman anymore. And as another NFL season kicks off this week, these questions haven’t gone away. Long-term degenerative brain diseases such as CTE and Parkinson’s have become huge concerns for football players and their families. “This is one reason why NFL fans can cheer for the most violent-looking tackles imaginable – because they are allowed in the game. “Football fans are like, ‘I love the physicality, but I’m certainly not going to put my child into that,” Wann says.

Persons: Josh Houtz’s, Houtz, ” Houtz, “, Tua Tagovailoa’s, haven’t, Daewood Davis, New England Patriots ’ Isaiah Bolden, John Wolford, Bolden, Davis, ”, Daniel Wann, Arthur Raney, ” Raney, ” Lamarcus Joyner, Steph Chambers, Raney, Wann, ’, ’ Sarah Bowman, She’s, ” Bowman, I’m, ” Wann, Tua Tagovailoa, Jeff Dean, you’ve, they’re, Damar Hamlin, it’s, Bowman, didn’t, he’d Organizations: CNN, Miami Dolphins, NFL, Dolphins, Jacksonville Jaguars, New England Patriots, Tampa Bay Buccaneers, isn’t, UFC, Murray State University, University at Buffalo, New York Jets, Seattle Seahawks, Murray State, Football, Amazon Prime, “ Football, Cincinnati Bengals, season’s Dolphins, Buffalo Bills Locations: Pennsylvania, Seattle, Boone , North Carolina, Cincinnati

☆ A millennial private equity founder explains how the 'girl math' taking over social media can help more than it hurts
▼ + stars: | 2023-08-29 | by ( Jennifer Streaks | Senior Personal Finance Reporter | Read More | ) www.businessinsider.com time to read: +4 min

Girl math is a viral Tiktok trend where women justify spending with their discretionary income. Girl math is often about quality of life decisions and the impact of your spending's value. Maybe girl math isn't the trap it seemsFinancial expert Kelly Ann Winget, the millennial founder of a solo-female-founded private equity fund, says that girl math isn't exactly what its critics describe. "If women are using girl math to justify spending that doesn't derail their financial well-being, that is a good thing. "Instead of focusing on girl math so much, think about ways to secure your income," Winget tells Gen Zers.

Persons: Kelly Ann Winget, you've, it's, Christopher Bechler, Huang, Joshua I, Morris, Taylor Swift, Winget, Gen Zers Organizations: Service, Stanford Graduate School of Business Locations: Wall, Silicon

☆ Opinion: An unwanted kiss on the lips mars Spain’s World Cup celebration
▼ + stars: | 2023-08-22 | by ( Opinion Jill Filipovic | ) edition.cnn.com time to read: +8 min

Rubiales was, like everyone else at the ceremony, no doubt excited that the Spanish team had won the World Cup. Say it was fine and she’s a bad feminist, letting other women down by justifying bad male behavior (and, perhaps, lying). Rubiales’ kiss also tops off a mountain of allegations about sexism-tinged bad behavior in the RFEF. And yet, when the Spanish women won the World Cup thanks to their own skill and hard work, Rubiales still emphasized Vilda. This, too many people say, is just men being men, or a simple display of normal human emotion.

Persons: Jill Filipovic, CNN —, Luis Rubiales, Jennifer Hermoso’s, Rubiales, Jenni, “, ” Hermoso, It’s, Hermoso, there’s, Adrien Brody, Oscar, Greta Friedman, you’ve, I’m, Berry, Brody, Friedman, Jorge Vilda’s, Jorge Vilda, ”, objectifying Hermoso, ogle, it’s Organizations: Twitter, CNN, Royal Spanish Football Federation, Spanish, Halle Berry, Times, Facebook Locations: New York, Spanish, Hermoso, Ibiza, Halle

☆ 'Girl math' is all over TikTok, but it 'straight-up does not work,' says self-made millionaire
▼ + stars: | 2023-08-17 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

All over TikTok, "girl math" is being used to justify almost any purchase, from everyday things like $5 coffees to big-ticket items like concert tickets. While everyone's version of girl math is different, it typically involves rationalizing your spending in often illogical ways. Say you buy your daily coffee with cash, rather than your credit card — it's basically free, according to girl math. On TikTok, there are hundreds of videos tagged as "girl math," with some amassing millions of views. "That strategy straight-up does not work because it will catch up with you," Tu tells CNBC Make It.

Persons: it's, Tori Dunlap, Dunlap, Vivian Tu, you'll, I'm Organizations: CNBC

☆ Here are Thursday's biggest analyst calls: Nvidia, Tesla, Home Depot, Disney, Ulta, Nio, Penn & more
▼ + stars: | 2023-08-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

TD Cowen reiterates Home Depot as outperform TD said the stock is best-in-class heading into earnings next week. " Deutsche Bank names Walmart and Ulta as top picks Deutsche said it sees upside to estimates for Walmart due to GLP-1 obesity drugs. Citi downgrades Petrobras to neutral from buy Citi downgraded the Brazilian petroleum company mainly due to political risks. " Bank of America reiterates Disney as buy Bank of America said it's standing by its buy rating on the stock after Wednesday's earnings and that its valuation is attractive. Bank of America reiterates Tesla as neutral Bank of America said it's standing by its neutral rating on the stock as cutting prices is keeping margins under pressure. "

Persons: Morgan Stanley, TD Cowen, Ulta, Oppenheimer, Freshpet, Jefferies, GPN, Penn, Truist, PENN, Goldman Sachs, Goldman, Davidson, Nio, NIO, Tesla, TSLA Organizations: Nvidia, NVIDIA, Deutsche Bank, Walmart, Deutsche, Citi, Petrobras, Bank of America, Disney, DIS, Jefferies, ESPN, Networks, Holdings, DA, of America Locations: Palo Alto

☆ What the Street missed in earnings at Apple and Amazon — and where shares go next
▼ + stars: | 2023-08-06 | by ( Jim Cramer | ) www.cnbc.com time to read: +10 min

In one quarter — one off-cycle quarter that didn't feature a no new iPhone — Apple (AAPL) delivered a whopping $81.8 billion in sales. I came up with "own it, don't trade it" for Apple because there have been so many quarters like this one. The people who sold Apple shares on Friday no doubt sold it on their Apple devices. I would be more worried if Apple's customer satisfaction went down than I am that iPhone sales lagged. Apple CEO Tim Cook speaks during Apple's Worldwide Developers Conference (WWDC) at the Apple Park campus in Cupertino, California, on June 5, 2023.

Persons: Tim Cook, Luca Maestri, Tim, Jensen, da, Huang, Andy Jassy, Roku, Jassy, Goldman Sachs, Jim Cramer's, Jim Cramer, Jim, Josh Edelson Organizations: Apple, ESPN, Amazon, Web Services, Nvidia, Services, Walmart, Oracle, Amazon Web, Google, Jim Cramer's Charitable, CNBC, Apple's Worldwide, AFP, Getty Locations: Indonesia, India, Philippines, Mexico, Turkey, Texas, New Jersey, Cupertino , California

☆ ChatGPT can only tell 25 jokes, and can't come up with new ones, researchers find
▼ + stars: | 2023-06-10 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

ChatGPT is "fun, but not funny" and keeps telling users the same 25 jokes, according to researchers. In a paper published on arXiv, most of the 1,008 jokes ChatGPT told were variations of just 25. By asking the chatbot "do you know any good jokes?," the researchers got ChatGPT to generate 1,008 jokes. However, more than 90% were the same 25 jokes, the researchers found, with the remainder being variations. Insider asked ChatGPT to tell us 25 jokes to get an idea of what the researchers meant.

Persons: ChatGPT, haven't, Sophie Jentzsch, Kristian Kersting, Bryan Caplan Organizations: Morning, Cornell University

☆ I’m a Couples Therapist. Something New Is Happening in Relationships.
▼ + stars: | 2023-05-16 | by ( Orna Guralnik | ) www.nytimes.com time to read: +7 min

They were generally deeply supportive of each other, but after she found out about his transgression, she was terribly upset and also confused. #MeToo rhetoric was woven into their discussions, functioning as a superego, shaping and inhibiting what they could even think. What did I do to just upset you?’”Couples work always goes back to the challenge of otherness. Michelle was aware of the way that Covid was devastating Black communities and wanted to be careful. In our sessions, Michelle sounded hopeless: She wanted him to understand how traumatizing Covid had been for Black people.

☆ Monitoring Financial Institution Compliance
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +41 min

Compliance MonitorshipsA compliance monitor (also called an independent examiner or independent compliance consultant) is an impartial party appointed by the government to detect the root causes of the institution’s compliance failures. The purpose of a compliance monitor is not to address a particular compliance failure or punish the institution. Responded to compliance issues, in a timely manner and in a way that demonstrates that the institution takes compliance issues seriously. Compliance Department EmployeesThe monitor must evaluate the adequacy of compliance department employees, including the number of compliance employees, their experience, and their expertise. Assess the Compliance SystemsThe monitor typically engages compliance technology experts, who have specific knowledge of coding and compliance technology software, to test and evaluate the institution’s compliance systems.

☆ Job search platform Indeed to cut 2,200 jobs
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

March 22 (Reuters) - U.S.-based job search platform Indeed said on Wednesday it will cut about 2,200 jobs, or 15% of its workforce, joining a host of companies rationalizing their labor force following a pandemic-fueled hiring boom. Chief Executive Chris Hyams, who will take a 25% cut in base pay, said future job openings in general were at or below pre-pandemic levels and that the company was too large. Meta Platforms Inc (META.O) and Amazon.com Inc (AMZN.O) have announced a second round of layoffs as they look to cut costs. Indeed's revenue from human resource technology will decline in fiscal 2023 and 2024, Hyams said, adding that U.S. job openings will likely fall to pre-pandemic levels of 7.5 million or even lower in the next two to three years. Reporting by Akash Sriram in Bengaluru; Editing by Sriraj Kalluvila and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

[1/2] People queue outside a newly reopened career center for in-person appointments in Louisville, Kentucky, U.S., April 15, 2021. REUTERS/Amira KaraoudMarch 9 (Reuters) - Layoffs by U.S. companies over January and February touched the highest since 2009, with the tech sector accounting for more than a third of the over 180,000 job cuts announced, a report showed on Thursday. In February alone, layoffs in the United States stood at 77,770, more than five times higher than the 15,245 job cuts announced a year earlier, according to the report from employment firm Challenger, Gray & Christmas Inc.Reuters Graphics"Right now, the overwhelming bulk of cuts are occurring in Technology. Retail and Financial are also cutting right now, as consumer spending matches economic conditions," said Andrew Challenger, senior vice president of the firm. U.S. firms announced plans to hire 28,830 workers in February, down 87% from 215,127 a year earlier, the report added.

☆ Novavax raises doubts about ability to remain in business, shares fall
▼ + stars: | 2023-02-28 | by ( Michael Erman | ) www.reuters.com time to read: +5 min

The company lost $182 million, or $2.28 per share, in the fourth quarter on weaker-than-expected sales of $357 million. Novavax's shares closed at $9.26 on Tuesday and fell to $6.90 in extended trading after reporting on its financial situation. "We're in the process of assessing the global footprint of Novavax, rationalizing our supply chain, rationalizing the portfolio and rationalizing the company structure and our infrastructure," he said. In the U.S., where the Novavax vaccine was authorized in July 2022, only around 80,000 of its shots have been administered. Jacobs said that while Novavax's vaccine may take longer to manufacture than its rivals from Pfizer (PFE.N)/BioNTech (22UAy.DE) and Moderna (MRNA.O), he believes FDA regulators want a protein-based option this fall for U.S. citizens.

☆ Novavax shares plunge as company raises doubts about its ability to remain in business
▼ + stars: | 2023-02-28 | by ( ) www.cnbc.com time to read: +4 min

A health worker prepares a dose of the Novavax vaccine as the Dutch Health Service Organization starts with the Novavax vaccination program on March 21, 2022 in The Hague, Netherlands. Covid-19 vaccine maker Novavax on Tuesday raised doubts about its ability to remain in business and announced plans to slash spending as it works to prepare for a fall vaccination campaign. The company lost $182 million, or $2.28 per share, in the fourth quarter on weaker-than-expected sales of $357 million. "We're in the process of assessing the global footprint of Novavax, rationalizing our supply chain, rationalizing the portfolio and rationalizing the company structure and our infrastructure," he said. In the U.S., where the Novavax vaccine was authorized in July 2022, only around 80,000 of its shots have been administered.

☆ Novavax raises doubts about its ability to remain in business
▼ + stars: | 2023-02-28 | by ( Michael Erman | ) www.reuters.com time to read: +4 min

NEW YORK, Feb 28 (Reuters) - COVID-19 vaccine maker Novavax Inc (NVAX.O) on Tuesday raised doubts about its ability to remain in business and announced plans to slash spending as it works to prepare for a fall vaccination campaign. The company lost $182 million, or $2.28 per share, in the fourth quarter on weaker-than-expected sales of $357 million. "We're in the process of assessing the global footprint of Novavax, rationalizing our supply chain, rationalizing the portfolio and rationalizing the company structure and our infrastructure," he said. In the U.S., where the Novavax vaccine was authorized in July 2022, only around 80,000 of its shots have been administered. Jacobs said that while Novavax's vaccine may take longer to manufacture than its rivals from Pfizer (PFE.N)/BioNTech (22UAy.DE) and Moderna (MRNA.O), he believes FDA regulators want a protein-based option this fall for U.S. citizens.

☆ Here are Friday's biggest analyst calls: Tesla, Nvidia, Roku, Coinbase, DraftKings, Disney & more
▼ + stars: | 2023-02-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are the biggest calls on Wall Street on Friday: Compass Point upgrades Coinbase to buy from neutral Compass said the "long-term opportunities outweigh near-term risks." Goldman Sachs reiterates Tesla as buy Goldman said it's bullish heading into the company's investor day on March 1. KeyBanc reiterates Nvidia as overweight KeyBanc raised its price target on the stock to $280 per share from $220. Daiwa reiterates Disney as buy Daiwa said it sees international growth for Disney which will further drive parks outperformance. Evercore ISI adds a positive tactical call on Walmart Evercore said it's bullish on Walmart heading into earnings next week.

☆ Payments firm PayPal to lay off 7% of its workforce to cut costs
▼ + stars: | 2023-01-31 | by ( Manya Saini | ) www.reuters.com time to read: +2 min

Jan 31 (Reuters) - PayPal Holdings Inc (PYPL.O) said on Tuesday it is planning to cut 7% of its workforce, or about 2,000 employees, the latest in a list of fintech firms to be hit by the economic slowdown. The payments firm also joins Big Tech firms and Wall Street titans, which are executing layoffs across corporate America as companies look to rein in costs to ride out the downturn. Shares of the payments firm, which lost about 60% of their value last year, were up about 2% in afternoon trading. "Similar to other tech companies, PayPal is seeking to position itself financially and strategically, bracing for an economic slowdown," said Moshe Katri, analyst at Wedbush. In November, PayPal had cut its annual revenue growth forecast in anticipation of a broader economic downturn and said it did not expect much growth in its U.S. e-commerce business in the holiday quarter.

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