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All three major averages posted gains for the third consecutive week, lifted by solid quarterly earnings and positive economic data. Earnings season ramps up next week, with five of the Super Six mega-cap stocks delivering results. Employment numbers are the most important economic data, with Friday's January nonfarm payrolls report carrying the most weight. The January ISM Manufacturing report on Thursday and December's factory orders report Friday are expected to show the sector still in contraction mode. But earnings and commentary this week from peer Sartorious made us encouraged about a return to growth in 2024.
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In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Avnet is too cheap, hold on to it, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: SLB, Avnet, Sea Ltd., Joby Aviation, Discover Financial and Verizon.
Persons: Jim Cramer Organizations: Sea Ltd, Joby Aviation, Discover Financial, Verizon Locations: Avnet
Cramer's Lightning Round: Sell Joby Aviation
  + stars: | 2023-09-15 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Schlumberger's year-to-date stock performance. Stock Chart Icon Stock chart icon Avnet's year-to-date stock performance. Stock Chart Icon Stock chart icon Sea's year-to-date stock performance. I'm going to say you should sell, sell sell." Stock Chart Icon Stock chart icon Verizon's year-to-date stock performance.
Persons: it's, Joby, We're Organizations: Schlumberger, Joby, Discover, Mastercard, Verizon
New York CNN —The Directors Guild of America reached a “historic” tentative deal for wages, work hours, residuals and even artificial intelligence Saturday night as the writer’s strike continues. “We have concluded a truly historic deal,” said Jon Avnet, chair of the guild’s negotiations committee in a statement. Keyser thanked other industries for their solidarity, including the Directors Guild. We have always been strong enough to get the deal we need using writer power alone.”The 19,000 Directors Guild members would see a 5% wage increase in the first year, 4% in the second and 3.5% in the third year. CNN has reached out to the producer’s alliance and the Writers Guild for comment.
Persons: , Jon Avnet, Chris Keyser, Keyser, , ” Keyser, Halyna Hutchins Organizations: New, New York CNN, of America, Alliance, Television Producers, Writers Guild, CNN, Writers Locations: New York, Mexico
The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.
Critical decisions made as CFO: Mr. Jepsen allowed the company to incur higher costs to expedite shipping for parts to factories and deliveries to customers. Enphase faced pressure last year from higher costs and the effects of a strong U.S. dollar. Ken Jacobson, CFO of Avnet Photo: AVNET INC.Ken Jacobson, Avnet Inc.Age: 45Career path: Mr. Jacobson, who had previously served as interim CFO from 2017 to 2018, stepped in officially as CFO in September. Mr. Jacobson says Avnet’s interest expenses on its debt have almost tripled over the past year. While there was some attrition in the beginning, it hasn’t been as bad as other companies, Mr. Jacobson said.
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