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☆ Analysts bail on Starbucks with 2 downgrades, slashed price targets. 'Stunning across-the-board miss,' says Blair
▼ + stars: | 2024-05-01 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

But Deutsche kept its $89 price target, which suggests the stock could gain just 0.6%, as of Tuesday's close. Starbucks stock hasn't logged a positive year since 2021. Bank of America's Sara Senatore maintained her buy rating and $108 price target, which implies roughly 22% potential upside — a fairly bullish aim compared with other firms. Underpinning Senatore's stance is her expectation that Starbucks' earnings growth will reaccelerate in 2025, fueled by traffic-driving initiatives, such as more menu innovation and operational improvements. JPMorgan analyst John Ivankoe kept his overweight rating but moved his price target lower to $92 from $100.

Persons: William Blair, Sharon Zackfia, Zackfia, Lauren Silberman, Deutsche, Wells, Bank of America's Sara Senatore, Laxman Narasimhan, John Ivankoe Organizations: Starbucks, Deutsche Bank, JPMorgan, UBS, Bank of America, Bank of America's Locations: Tuesday's, U.S, China, Wells Fargo, Israel

Microsoft and a major chemical stock were among Friday's biggest analyst calls. He also lowered his price target by $1 to $25, which implies shares can fall roughly 19% from Thursday's close. Sandler increased his price target by $27 to $200, which implies 26.6% potential upside. JPMorgan: Analyst Mark Murphy added $30 to his price target, which is now at $470. He also hiked his price target to $61 from $55, which implies upside of 8% going forward.

Persons: Morgan Stanley, Mobileye, Adam Jonas, Jonas, — Pia Singh, Stifel, Stanley Elliot, Elliott, Alphabet's, Oppenheimer, Jason Helfstein, Ross Sandler, Sandler, Brent Thill, Google's, Justin Post, Post, Wall, Raimo Lenschow, Wells, Michael Turrin, MSFT, Turrin, Mark Murphy, Murphy, Keith Weiss, Weiss, Jeffrey Zekauskas, Zekauskas, Dow, Fred Imbert Organizations: CNBC, Microsoft, JPMorgan, Dow Inc, TAM, Caterpillar, Google, Barclays, –, Jefferies, Bank of America, DOW Locations: Israel, Thursday's, reaccelerate, Wells Fargo

☆ Here's why this financial technology fund could break out during earnings season
▼ + stars: | 2024-04-24 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Technical analyst Rob Ginsberg said in a note to clients Wednesday that the Global X FinTech ETF (FINX) looks attractive after a long period of underperforming the broader market. "Now that we're past much of the big bank earnings, there are a number of fintech and financial service names on the docket this week and next. FINX 5Y mountain The FINX ETF has shown early signs of a rebound in 2024. Ginsberg wrote that the ETF has some positive technical signals of its own. To be sure, earnings reports could prove to be a downside catalyst for financial technology stocks and the fund.

Persons: Rob Ginsberg, Ginsberg, — CNBC's Michael Bloom Organizations: titans, Wolfe Research, Paypal Locations: Fintech, FINX

Monday's analyst calls included a price target cut for one of the biggest tech companies in the world and Goldman Sachs getting bullish on an e-commerce giant ahead of earnings. Morgan Stanley cut its price target on Apple to $210 from $220, citing the potential for disappointing fiscal third-quarter guidance. 6:50 a.m.: Morgan Stanley remains bullish on Nvidia even after chipmaker's sell-off The recent slump in artificial intelligence-related stocks hasn't steered Morgan Stanley away from Nvidia . Sheridan kept his buy rating and $220 price target on Amazon, which is expected to post its earnings results on April 30. Analyst Erik Woodring reiterated his overweight rating on the tech giant but cut his price target to $210 from $220.

Persons: Goldman Sachs, Morgan Stanley, Goldman, Joseph Moore, Moore, — Pia Singh, shouldn't, Wamsi Mohan, Mohan, Benjamin Swinburne, Swinburne, Eric Sheridan, Sheridan, Erik Woodring, Woodring, Fred Imbert Organizations: CNBC, Apple, Nvidia, NVIDIA, Bank of America, Spotify, Amazon, Services Locations: North America

☆ Would the Fed really hike rates here? This is what would have to happen
▼ + stars: | 2024-04-20 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

Though it was unthinkable just a short time ago, the question of what it would take the Federal Reserve to raise interest rates further is gaining increasing attention. New York Fed President John Williams faced questioning Thursday about hiking and said he doesn't expect that to happen, but noted that it's always an option. "Basically, if the data were telling us that we would need higher interest rates to achieve our goal, then we would obviously want to do that." Making the same mistake as the 1970s central bank — hiking rates to fight inflation, then cutting prematurely and allowing inflation to return — is a sensitive issue for the Powell Fed. Chances are low, for now So far, only Fed Governor Michelle Bowman has given any credence to the notion of raising rates.

Persons: John Williams, it's, Williams, Jerome Powell, Philip Jefferson, Powell, Nicholas Colas, Colas, Michelle Bowman, Bowman, Esther George Organizations: Federal Reserve, Fed, New York Fed, Summit, DataTrek, CME, Kansas City, CNBC Locations: Washington, Kansas

Analyst Laura Champine also lowered her price target to $80 from $85, implying a 6% increase for the stock. "New York City office is one of the few REIT subsectors seeing improved demand," the analyst wrote. The bank double-upgraded the e-commerce platform to overweight from underweight and hiked its price target to $62 from $35. Feather added that eBay stock is currently trading at a discount versus peers, with Etsy trading around 35% higher. "JetBlue's DNA aligns with our broader preference for loyalty, premium, and international exposure ... albeit with less vigor than the Big 3," the analyst wrote.

Persons: TD Cowen, Morgan Stanley, Needham, Laura Martin, Andy, Martin, — Jesse Pound, Laura Champine, Champine, — Lisa Kailai Han, Tesla, Emmanuel Rosner, Elon Musk, Rosner, Fred Imbert, John Kim, Kim, SLG, KeyBanc, Eric Heath, Heath, Nathan Feather, Feather, James West's, West, Jamie Baker, Baker, Lisa Kailai Han, Matthew Ramsay, Ramsay Organizations: CNBC, Nvidia, Amazon, Wholesale, BJ's Wholesale, Deutsche Bank, Tesla, Reuters, BMO Capital Markets, Green Realty, New York City, SL Green Realty, SL Green, SL, KeyBanc, eBay, EBAY, GE, ISI, GE Vernova, General Electric, JPMorgan, JetBlue JPMorgan, JetBlue, Jetblue, Technology, NVIDIA, Match Group Locations: China, Manhattan, York City, Wednesday's, York

☆ Bad news for Biden (and all Americans): Inflation is creeping higher at the worst time
▼ + stars: | 2024-04-11 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

But, if you’re President Joe Biden, now is a particularly bad time for inflation to reaccelerate. On the other hand, bad economic data, especially regarding inflation, almost certainly guarantees people aren’t going to be feeling better about the economy. Significant progress over the past two years in getting inflation down from multi-decade highs has been of little help to struggling Americans. “We have more to do to lower costs for hardworking families,” he said. The shelter index, a broader component of the inflation report that covers a majority of housing expenses, is up 5.7% year-over-year.

Persons: CNN Business ’, New York CNN — There’s, Joe Biden, Biden, hasn’t, Ron Klain, ”, Ian Maule, he’s, CNN Biden, “ Organizations: CNN Business, New York CNN, Labor, Politico, Biden, Center, CNN, Republican Locations: New York, Las Vegas , Nevada

☆ Where investors might hide out if inflation continues to reaccelerate
▼ + stars: | 2024-04-10 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

To guard against stubborn inflation and higher-for-longer interest rates, investors should focus on quality companies with high pricing power and adjust their duration risk in bonds, according to Wall Street strategists and portfolio managers. Pricing power Companies with high pricing power tend to outperform when inflation is elevated because they have the ability to defend their profit margins by passing along higher costs to their end market customers. "In equities, you should prefer companies that have pricing power, i.e. "When inflation is the predominant risk in markets, correlations between stocks and traditional bonds tend to be high. BlackRock's iShares strategy team recently argued that investors should take advantage of spikes in bond yields while they can and reinvest their cash.

Persons: Stocks, Brad Conger, Sonu Varghese, Jason Pride, Pride, Rick Rieder Organizations: Dow Jones, Treasury, Street, Callaghan, Co, Big Tech, Carson Group, Securities, U.S ., Glenmede Trust Locations: Hirtle, BlackRock

☆ Wall Street gets key inflation data next week amid concerns the stock market is overbought
▼ + stars: | 2024-04-05 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Economists polled by FactSet anticipate the March consumer price index will show prices rising by 0.3% on a monthly basis, less than February's 0.4% advance. Similarly, the March producer price index is expected to show an increase of 0.5%, according to FactSet consensus estimates. Monday April 8 Tuesday April 9 6 a.m. NFIB Small Business Index (March) Wednesday April 10 8:30 a.m. Consumer Price Index (CPI) (March) 8:30 a.m. Initial Claims (04/06) 8:30 a.m. Producer Price Index PPI Earnings: CarMax Friday April 12 8:30 a.m. Import Price Index (March) 10 a.m. Michigan Sentiment preliminary (April) Earnings: State Street , Wells Fargo , JPMorgan Chase , Progressive , Citigroup

Persons: Stocks, we're, Ross Mayfield, Baird, Mayfield, FactSet, David Einhorn, CNBC's Scott Wapner, he's, Michelle Bowman, Bank's Tom Hainlin, Hainlin, Jamie Myers, JPMorgan Chase Organizations: Federal Reserve, Investors, Treasury Bond, Dow Jones, Nasdaq, . West Texas, Treasury, Fed, Investment Group, Investors Intelligence, American Association of, Walmart, Citigroup, JPMorgan, Index, Treasury Budget NSA, Air Lines, Price Index, Progressive Locations: U.S, Wells Fargo, Michigan

☆ Here are Thursday's biggest analyst calls: Nvidia, Tesla, Super Micro, Meta, Wynn, Reddit, Coinbase, GM & more
▼ + stars: | 2024-04-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Mizuho reiterates Nvidia as a top pick Mizuho says Nvidia is still a top idea at the firm. Morgan Stanley initiates Mural Oncology at overweight Morgan said in its initiation of the biotech company that it sees a long "cash runway" lasting through 2025. Morgan Stanley downgrades Block to underweight from equal weight Morgan Stanley sees growth headwinds for the payment tech company. Morgan Stanley upgrades Zeta to overweight from equal weight Morgan Stanley said the marketing technology company has an underappreciated valuation. " Morgan Stanley reiterates Tesla at overweight Morgan Stanley lowered its price target to $310 per share from $320. "

Persons: Bernstein, Reddit, underperform Bernstein, Raymond James, Raymond James downgrades Bumble, Barclays downgrades Ferrari, it's, Mizuho, Goldman Sachs, Goldman, Morgan Stanley, Morgan, Wolfe, underperform Wolfe, Piper Sandler, Piper, Synopsys, Morgan Stanley downgrades Block, Dave, Buster's, Jefferies, Zeta, Oppenheimer, Ball, Wayfair, Wynn, bullish, Tesla, Goldman Sachs downgrades Hertz Organizations: Citi, Barclays, Ferrari, Nvidia, JPMorgan, Avis, UBS downgrades Bank of America, UBS, Apple, AstraZeneca JPMorgan, AstraZeneca, Amazon, AWS, Meta, General Motors, GMC, Chevrolet, Buick, GM, DFS, Mizuho, Eversource Energy Locations: Avis, MURA, Charlotte, Wayfair, Capital, Macau

☆ Estee Lauder catches a couple Wall Street endorsements but we're still skeptical
▼ + stars: | 2024-04-02 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Recent Wall Street upgrades of Estee Lauder don't change our lingering concerns over the company's underperforming stock and its business in China. Bank of America last Thursday upgraded Estee Lauder to a buy while increasing its price target to $170 from $160. Estee Lauder is expected to report its fiscal 2024 third-quarter results on May 1. EL 5Y mountain Estee Lauder 5 years Jim Cramer said Tuesday Estee Lauder "was a bad pick" for the portfolio. An Estee Lauder pop-up store is seen inside daimaru Department Store on Nanjing Road Pedestrian street in Shanghai, China, August 6, 2021.

Persons: Estee Lauder, Fabrizio Freda's, Freda, Jim Cramer, they've, Jim, Jim Cramer's Organizations: Citi, Tuesday, Bank of America, Lauder, CNBC, daimaru, Getty Locations: China, Hainan, Hawaii of China, South Korea, Nanjing, Shanghai

☆ Gold could start to overtake bitcoin as the cryptocurrency stalls at $70,000, says Wolfe Research
▼ + stars: | 2024-03-28 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Gold has a chance to charge ahead of bitcoin as the flagship cryptocurrency hovers around the $70,000 level, according to Wolfe Research. However, bitcoin has also been mirroring its own moves from 2021, when the cryptocurrency rocketed twice to all-time highs, just before a deep pullback. "The gold vs. bitcoin ratio is nearing support while oversold on a weekly basis," said Ginsberg. "If our feeling on bitcoin is correct, and it continues to consolidate in this $60,000–$73,000 region, it may provide a good opportunity for gold to start outperforming." It has since returned to its highs and looks ready to reaccelerate, Ginsberg said, although selling pressure "has historically come on strong above $70,000."

Persons: bitcoin, Rob Ginsberg, Ginsberg Organizations: Wolfe Research Locations: bitcoin, U.S

☆ Did Starbucks' job in China just get tougher? Here's our take on new campaign tariff talk
▼ + stars: | 2024-03-11 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

During Trump's trade war, Chinese consumers turned away from some U.S. goods and services in protest. SBUX 1Y mountain Starbucks 1 year Shares of Starbucks rose 1% on Monday as investors, perhaps, shrugged off China trade war worries. Such a scenario could fuel skepticism — already a worry among investors — about Starbucks' appeal to a broad swath of Chinese consumers. "I fear they're too expensive for China," Jim Cramer recently said, referring to Starbucks. As the coffee market matures in China, Starbucks believes the industry will undergo a more defined tiered competition dynamic, which would expand opportunities as a high-end brand.

Persons: Donald Trump, Joe Biden, Kevin Johnson, we're, shrugged, Jim Cramer, Jeff Marks, Peter Saleh, wouldn't, Saleh, Trump, Biden, Jim Cramer's, Jim, Alex Tai Organizations: CNBC, Democratic, Starbucks, U.S, Club, Getty Locations: China, U.S, Washington, Beijing, Trump, India

TOKYO (AP) — Asian shares were trading mixed Thursday, after Wall Street recovered some losses from the day before. Japan's benchmark Nikkei 225 momentarily reached a record high in early trading but slipped later to finish at 39,598.71, down 1.2%. “The positive handover from Wall Street, alongside lower Treasury yields and a weaker U.S. dollar, may offer some relief as Fed Chair’s testimony failed to drive much hawkish deviation from his usual script,” said Yeap Jun Rong, market analyst at IG. As always, Wall Street scrutinized each of Powell's words for hints about when the Federal Reserve could begin cutting its main interest rate, which is at its highest level since 2001. “We want to see a little more data so we can become more confident.”Traders have already shelved earlier expectations for a cut in March, and they’re now eyeing June as the likeliest beginning.

Persons: Australia's, ”, Yeap Jun Rong, Jerome Powell, CrowdStrike, Steven Mnuchin, Donald Trump, Powell, ” Powell, Rubeela Farooqi, Locker, Brent, Stan Choe Organizations: TOKYO, Wall, Nikkei, IG, Federal, Dow Jones, Nasdaq, Nvidia, Big Tech, New York Community Bancorp, U.S, Treasury, Federal Reserve, Fed, Traders, AP Locations: Hong, Shanghai

☆ A hard-landing recession is guaranteed as the full impact of Fed rate hikes have yet to hit the economy, Morgan Stanley's chief economist says
▼ + stars: | 2024-02-27 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

A hard landing is guaranteed for the US Morgan Stanley's chief US economist. That's because the full impacts of Fed tightening haven't been fully felt in the economy. It could take 18 months after the last rate hike to feel the full weight of higher rates, economists say. Zentner is expecting the US to avoid a recession this year, as there's no data to support a soon-to-come downturn. AdvertisementStill, signs point to the Fed keeping interest rates elevated as it keeps an eye on inflation.

Persons: US Morgan Stanley's, Ellen Zentner, Morgan Stanley's, Zentner, Jamie Dimon's Organizations: US, Federal Reserve, CNBC, Analytics, Bank, Investors

Mortgage rates rose following the release of the latest Consumer Price Index data, and they remain elevated today. Though the Fed doesn't directly impact mortgage rates, investor expectations of Fed policy moves can push mortgage rates up or down. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Up Closer to 7% (+0.24%)The current average 30-year fixed mortgage rate is 6.68%, up 24 points from where it was this time last week. 15-Year Fixed Mortgage Rates Back Above 6% (+0.31%)The average 15-year mortgage rate is 6.05%, up 31 points from last week.

Persons: they've, we'll, you'll, It's, refinance Organizations: of Labor Statistics, Federal Reserve, Zillow, FHA Locations: reaccelerate, Chevron

☆ Friday's reach for another stock market record comes with a new, welcome wrinkle
▼ + stars: | 2024-02-16 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Remember, Jim Cramer kicked Tesla out and renamed the group of mega-cap market leaders the Significant Six. Mark your calendars: On Saturday, February 24, we'll be hosting our 2nd Annual Meeting for members of the CNBC Investing Club with Jim Cramer. 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, Tesla, Wells Fargo, Eli Lilly, Foot, Danaher, we'll, Jim Cramer's, Jim Organizations: CNBC, Microsoft, Nvidia, Tesla, Club, GE Healthcare, UBS, HSBC, General, Linde, Disney, Apple, Alto Networks, Bausch Health, Coterra Energy, Walmart, Home, Jim Cramer's Charitable Locations: We're, Friday's, GEHC

NEW YORK (AP) — As some of the world’s biggest economies stumble into recession, the United States keeps chugging along. Yet in the United States, the economy motored ahead in last year’s fourth quarter for a sixth straight quarter of growth. But, for now, the outlook continues to appear better for the United States than many other big economies. Even China, whose economy is growing faster than the United States’, is under heavy pressure. Some pillars of support for consumer spending may be weakening.

Persons: Solita Marcelli, Biden, ”, Diane Swonk, They've, Catherine Mann, Morgan Stanley, Chris Kempczinski, he’s, ” ___ Rugaber Organizations: U.S, UBS Global Wealth Management, International Monetary Fund, KPMG, “, Federal, British, Bank of England, Bank of, Japan, Federal Reserve Locations: United States, Japan, United Kingdom, U.S, Government, Americas, Washington, Europe, Ukraine, China

TOKYO (AP) — Shares declined Wednesday in Asia after disappointingly high U.S. inflation data sent stocks sliding on Wall Street and raised prospects that interest rates will remain elevated for longer. Hong Kong’s Hang Seng index resumed trading after the Lunar New Year holiday, edging 0.7% higher to 15,861.77 after opening lower. High interest rates hurt all kinds of investments, and they tend to particularly hurt high-growth stocks like technology companies. Stocks of smaller companies fell even more because high rates could hurt them more than bigger rivals by making it more difficult to borrow cash. Yields jumped in the bond market as traders built up expectations for the Fed to keep rates high for longer.

Persons: Australia's, Korea's Kospi, Sensex, Tuesday’s, Russell, Alexandra Wilson, Elizondo, Carl Icahn Organizations: TOKYO, —, Nikkei, Federal Reserve, Labor Department, Dow Jones, Nasdaq, Microsoft, Fed, Treasury, Goldman, Goldman Sachs Asset Management, Wall, JetBlue Airways, New York Mercantile Exchange, Brent, U.S Locations: Asia, Indonesia, Southeast, China, Bangkok, Goldman Sachs

☆ The Fed probably won’t cut rates in March. Here’s what that means for markets
▼ + stars: | 2024-02-11 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Investors now expect that the Fed will begin easing back rates in May or June, according to the CME FedWatch Tool. Before the Bell: What does the Fed’s signal that it won’t cut rates in March mean for markets? I think what’s important for the markets themselves is the fact that the Fed has signaled they’re going to cut rates. So, they’re going to cut rates at some point this year, probably May or June is going to be the first cut that we get. There’s a lot of areas where your earnings … start to reaccelerate higher, and that’s a good thing.

Persons: Stocks, Jerome Powell, Bell, Matt Orton, I’ve, We’re, it’s, Matt Egan, Read, Price Organizations: CNN Business, Bell, New York CNN, Investors, Fed, Raymond James Investment Management, The Conference, Conference, Avis Budget Group, Hasbro, Cola, Molson Coors, The, Labor Statistics, Kraft, Heinz, The Commerce Department, National Association of Home Builders, University of Michigan Locations: New York, Wells Fargo

☆ The Fed doesn't need to be in a rush to cut rates, JPMorgan Asset Management says
▼ + stars: | 2024-02-05 | 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 EmailThe Fed doesn't need to be in a rush to cut rates, JPMorgan Asset Management saysJonathan Liang, Asia ex-Japan head of fixed income investment specialists at JPMorgan Asset Management, says that's "because the economy is so robust. Why risk … causing inflation to reaccelerate?"

Persons: Jonathan Liang Organizations: JPMorgan Asset Management, Asset Management Locations: Asia, Japan

Elsewhere, Bank of America raised its price target on Nvidia, calling for more than 25% upside. 7:07 a.m.: Deutsche Bank deals latest blow to regional bank after earnings disappoint Deutsche Bank joined the post-earnings dogpile on New York Community Bank . Analyst Bernard von-Gizycki downgraded the regional bank to hold from buy and slashed to price target to $7 from $15. Analyst Alicia Yap upgraded the consumer internet stock to buy from neutral and raised her price target by $6 to $50. — Alex Harring 5:45 a.m.: Bank of America hikes Nvidia price target Don't expect Nvidia to lose momentum anytime soon, according to Bank of America.

Persons: Goldman Sachs, Bernard von, Gizycki, — Alex Harring, There's, Alicia Yap, Sea's, Shopee, Alex Harring, what's, Tim Cook, Brandon Nispel, AAPL's, AAPL, Morgan Stanley, Erik Woodring, we're, Tim Long, Piper Sandler, Harsh Kumar, Meta, Ross Sandler, Benjamin Black, Mark Kelley, Bernstein, Mark Shmulik, LSEG, Rufus, Eric Sheridan, Brian Nowak, outsized, Brad Erickson, Vivek Arya, Fred Imbert Organizations: CNBC, Apple, Bank of America, Nvidia, Deutsche Bank, New York Community Bank, von, Investors, Traders, Citi, Nasdaq, Conference, Barclays, Vision, Meta, Wall Street, Amazon, RBC Capital, Enterprise, SAP, VMWare, Dell Locations: Wall, New, Thursday's, Friday's premarket, China, genAI, CY25

☆ Watch live: Fed chief Powell speaks after central bank holds rates steady yet again
▼ + stars: | 2024-01-31 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: 1 min

The Federal Reserve is leaving its options open as it assess the path ahead for interest rates and when to implement cuts, said Chair Jerome Powell. "Of course, if labor, if inflation were to surprise by moving back up, we would have to respond to that and that would be a surprise at this point," he said. "But I have to tell you that's why we keep our options open here and why we're not rushing." While markets have digested six months of good data, uncertainties linger and risks could reaccelerate inflation, he added. — Samantha Subin

Persons: Jerome Powell, we're, — Samantha Subin Organizations: Federal

☆ Warren Buffett's Berkshire Hathaway keeps buying Liberty's SiriusXM tracking shares. Here's why
▼ + stars: | 2024-01-28 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Berkshire Hathaway continued to buy Liberty Media's tracking stock for New York-based satellite radio company SiriusXM in a likely merger arbitrage play. Billionaire John Malone's media conglomerate currently owns 84% of Sirius XM and has two tracking stocks that represent that stake in the streaming satellite music service — Liberty Media Corp. Series A shares, or LSXMA , and Liberty Media Corp. Series C shares, or LSXMK . Under the terms of the deal, expected to close early in the third quarter, each Liberty Media Sirius tracking share will be exchanged for 8.4 "new" SIRI shares, while "old" SIRI shareholders would receive new shares in a one-for-one exchange. Berkshire loading up In the past week, Warren Buffett's conglomerate added 438,945 shares of LSXMA and 1 million shares of LSXMK for nearly $45 million combined, according to regulatory filings . Berkshire first bought LSXMK in 2016 and now owns almost 22% of the tracking stock, according to FactSet.

Persons: Berkshire Hathaway, John, SIRI, Warren, Buffett, Ted Weschler, Todd Combs, Seth Klarman's Baupost, SIRI overvalued, Wells, Steven Cahall, Cahall, Jason Bazinet, Charlie Munger, Charlie, hasn't Organizations: Berkshire, Liberty, Sirius XM, — Liberty Media Corp, Liberty Media Corp, Nasdaq, Liberty Media, Liberty Media Sirius, Sirius XM Holdings, Sirius, Citigroup, Activision Blizzard, British Columbia Power, Monsanto, Bayer AG, IBM Locations: New York, Berkshire, LSXMA, LSXMK, Omaha

☆ Birkenstock spooks with cautious outlook even as its sandals stay on trend
▼ + stars: | 2024-01-18 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN —Birkenstock sandals might be as pricey as ever, and the folksy footwear are as popular with shoppers as ever, too. Despite strong sales, the company gave a cautious outlook for 2024, saying it expects “modest headwind to impact margins.”Birkenstock shares dipped nearly 8.5% on the news Thursday. “They have really strong profitability that was really eating them during their IPO and post IPO. “Overall the brand remains healthy with strong sales growth in the fourth quarter and encouraging first-quarter trends so far. “The comfort of these sandals coincided with the casual comfort dressing trend that was already in play pre-pandemic and accelerated through it.

Persons: “, Abigail Gilmartin, Gilmartin, ”, TikTok, Beth Goldstein, Birkenstocks, Birkenstock, ” Goldstein Organizations: New, New York CNN, Bloomberg Intelligence, CNN, “ Locations: New York

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