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☆ Homes on billionaire hot spot Nantucket are falling into the ocean at an alarming rate — but the wealthy won't stop buying
▼ + stars: | 2024-05-24 | by ( Madeline Berg | Dan Latu | ) www.businessinsider.com time to read: +14 min

Over the past two centuries, Nantucket has gone from a whaling town to a hippie refuge to a holiday hot spot for billionaires. "To use a well-worn phrase, come hell or high water, people are still buying multimillion-dollar homes on Nantucket." Between 2030 and 2100, the number of structures exposed to coastal erosion is expected to go from 113 to 860. "Without erosion, this would be an extremely valuable area," Baxter Road resident Joshua Posner told BI. "It's not inexpensive, but it is worth doing," Posner told BI.

Persons: Steve Schwarzman, Eric Schmidt, Barry Sternlicht, Elizabeth Gibson, David L, Ryan, Bruce Percelay, Edward Sanford's, he'd, Percelay, Greg Mckechnie, you'd, Barry Sternlicht's, Suzanne Kreiter, Shelly Lockwood, who's, I'm, Joshua Posner, Jack Welch, Bill Belichick, —, Sanford, Lockwood, Nature, Yorker Brendan Maddigan, Maddigan, Mckechnie, Schwarzman, She's, Posner, he's, Helmut Weymar, Anne Atherton Organizations: Resilience, Business, Boston Globe, Getty, Estate, Nantucket, Coastal, Nantucket's Cisco, Cisco, Beach, Patriots, Yorker, Preservation Fund, Baxter, Conservation, Conservancy, The New York Times, Conservation Commission, Nature Locations: Nantucket, England, Cape Cod, Nantucket's, Madaket, Sconset, Brant, Baxter

☆ She was the first Black woman to fly in the US Air Force. Now this trailblazing pilot is getting ready for her final flight
▼ + stars: | 2024-05-23 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +9 min

“To still impart that knowledge on young people, and particularly young black women, that they can do this.”Becoming a pilot was something Claiborne, originally from Virginia, could never have imagined for herself as a young girl. When asked about the transition to flying commercial planes, Claiborne stresses that “a pilot is a pilot.”“You’re in different type organizations, but you’re still a pilot,” she adds. So this is an opportunity for her to really enjoy herself.”Increasing diversityClaiborne is committed to increasing pilot diversity and will continue to mentor young women. It’s estimated that there are less than 150 Black women pilots in the US, and Claiborne feels a huge responsibility as one of them. While this may be the end of her commercial flying career, Claiborne isn’t necessarily saying “goodbye” to piloting forever, and would love to fly a World War II aircraft one day.

Persons: CNN — She’s, Theresa Claiborne, “ I’ve, ” Claiborne, Claiborne, “, ”, I’d, ” “, Caliborne, Ruth Bader Ginsburg, you’re, I’ve, Bessie Coleman, she’s, “ I’m, it’ll, they’d, Claiborne isn’t, ‘, ’ ” Organizations: CNN, Newark Liberty International, Air Force Reserve, Corps, US Air Force, California State University, KC, United Airlines, United, ”, US Bureau of Labor Statistics, It’s, Tuskegee Airmen Locations: New Jersey, Lisbon, Portugal, Virginia, Turkey, Sacramento, Claiborne, United States, Newark , New Jersey, Paris, Newark

☆ Sudden container crunch sends ocean freight rates soaring, setting off global trade alarm bells
▼ + stars: | 2024-05-23 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

AFP Contributor | AFP | Getty ImagesA perfect storm in global trade is creating a shipping container capacity crunch, fueling a sudden and surprise spike in ocean freight rates. Xeneta ocean freight rates show the rallying spot market and the widening spread between spot and long-term rates. An increase in ocean freight rejections shows the imbalance. Logistics price increases are ultimately passed onto the consumer and the dizzying freight rates during the pandemic were among factors cited by the Federal Reserve as a cause of inflation. The International Chamber of Shipping, which represents major ocean carriers, did not immediately respond to a request for comment.

Persons: Emily Stausbøll, Stausbøll, Goetz Alebrand, Alebrand, Judah Levine, Freightos, Levine, Wan Hai, HLS, Drewry, Jonathan Gold Organizations: AFP, Getty, U.S ., Xeneta, DHL, Shipping, Americas, DHL Global, CNBC, Federal Reserve, Orient Star Group, MSC, Chamber of Shipping, Honour, Carriers, Maritime Locations: Qingdao, Shandong province, AFP, Asia, U.S . West Coast, U.S, China, Malaysia, Singapore, Panama, Latin America, Europe, Chongqing, East Asia, South America, Africa, U.S . East Coast

☆ Gold prices drift lower on hawkish Fed minutes
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: +2 min

Gold prices extended their record rally on Monday, supported by speculative buying and continued tensions in the Middle East, which overshadowed strong U.S. job growth in March. Gold prices fell for a third straight session on Thursday after minutes from the most recent Federal Reserve meeting indicated that some officials were inclined to raise interest rates. Spot gold fell 0.3% at $2,370.74 per ounce, as of 0335 GMT, after falling more than 1% in the previous session. "Gold did take a bruising after the Fed minutes reminded investors that interest rate cuts are far from imminent," said Tim Waterer, chief market analyst at KCM Trade. Spot silver fell 0.8% to $30.52, platinum edged 0.2% lower to $1,032.54 and palladium dropped 1.1% to $988.25.

Persons: Bullion, Tim Waterer, Waterer Organizations: Reserve, KCM, Fed, Traders, Reuters Locations: ., U.S

☆ 5 millennials who are on their way to financial independence share why they have no intention of retiring early
▼ + stars: | 2024-05-23 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

October, a speech-language pathologist for New York City Public Schools, started her journey toward financial independence a few years ago. October is one of many millennials who are working toward achieving financial independence, one of the main goals of the FIRE — financial independence, retire early — community. Some millennials who successfully achieved financial independence told BI that a traditional retirement is overrated. Advertisement"The whole time I've been thinking in terms of my financial independence as what I call single-player mode. She sees financial independence as an extension of her drive to fulfill passion projects.

Persons: —, Shelly, she'll, she's, She's, millennials, They're, Scott Rieckens, Millennials, Oz Chen, he's, Oz Chen He's, hasn't, I'm, Chen, Gabriela Ariza, Ariza, David, Jill Pawley, Jilly Pawley, they'll, they've, It's, Jill Organizations: Service, New York City Public Schools, Business, Neighborhood Assistance Corporation of America Locations: Yonkers, New York City, Los Angeles, Illinois, Chicago, Rockford, Haiti, Michigan

☆ The Taylor Swift Ticketmaster fiasco comes full circle as DOJ slams parent company with lawsuit
▼ + stars: | 2024-05-23 | by ( Katie Balevic | Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Over a year after Ticketmaster crashed, preventing rabid Taylor Swift fans from purchasing tickets to her concert tour, the DOJ has announced an antitrust lawsuit against Ticketmaster's parent company, Live Nation Entertainment. Advertisement"This has given Live Nation and Ticketmaster the opportunity to freeze innovation and bend the industry to their own benefit. The lawsuit comes after Ticketmaster fumbled a pre-sale event in late 2022 for Taylor Swift's Eras Tour as fans competed with bots for a limited number of tickets. AdvertisementIn response to the antitrust suit, Live Nation said that "calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term, but it will lose in court."

Persons: —, Taylor Swift, Merrick Garland, Taylor, Swift Organizations: Service, Ticketmaster, DOJ, Entertainment, Business, Justice Department, Department

☆ Paramount, Charter Communications sign new content distribution deal
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: 1 min

The Paramount logo is displayed at Columbia Square along Sunset Blvd in Hollywood, California, on March 9, 2023. Paramount Global has signed a new multi-year content distribution deal with Charter Communications for its full portfolio of linear cable networks, the companies said on Thursday. The companies did not disclose the financial terms of the deal, in which the ad-supported versions of Paramount's direct-to-consumer services, Paramount+ Essential and BET+ Essential, will be included at no extra cost to Charter's Spectrum TV customers. Charter will also make Paramount's direct-to-consumer products available for purchase to its millions of Internet-only customers. It will continue to carry CBS owned-and-operated broadcast stations and all of Paramount's current cable networks and Paramount+, the companies said.

Organizations: Paramount, Columbia, Paramount Global, Charter Communications, BET, Spectrum, CBS Locations: Hollywood , California

☆ I tried the Megaformer Pilates workout, loved by Kim Kardashian and Michelle Obama. It targeted my thighs in a whole new way.
▼ + stars: | 2024-05-23 | by ( Rachel Hosie | ) www.businessinsider.com time to read: +7 min

The list of Lagree's celebrity fans is long, including, reportedly, Jennifer Aniston, Meghan Markle, Kate Hudson, Jennifer Lopez, Michelle Obama, and Kim Kardashian. Steve Granitz/Getty ImagesThe global boutique fitness studio market is currently valued at $55.16 billion and is expected to reach $79.66 billion in 2029, according to Research and Markets. The gym was luxurious but minimalist, with club-style studiosThere are a couple of fitness studios in London offering Megaformer workout classes now, both at £35 ($45). AdvertisementStudio Fix's Megaformer studio. Afterward I felt proud of myself and my body felt good from the stretching and mobility.

Persons: —, Sebastien Lagree, Jennifer Aniston, Meghan Markle, Kate Hudson, Jennifer Lopez, Michelle Obama, Kim Kardashian, Steve Granitz, I've, Rachel Hosie, Andrea, Rachel, Lagree, I'd, Najeeb Abunahl, Sebastian Lagree, Abunahl Organizations: Service, Business, Research, Sauce Communications Locations: barre, London, Kensington —, Europe

☆ Oreo-maker Mondelez fined $366 million for rigging European markets
▼ + stars: | 2024-05-23 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +2 min

London CNN —Mondelez, the maker of Oreo and Cadbury Dairy Milk chocolate, has been fined €337.5 million ($366 million) for hindering the trade of chocolate, cookies and coffee between European Union countries in order to keep prices high. Margrethe Vestager, the EU’s competition chief, said in a statement Thursday that Mondelez had illegally limited cross-border sales within the EU to maintain higher prices for its products. The European Commission, which started looking into the case in 2019, found that Mondelez International (MDLZ) had deliberately restricted cross-border trade and abused “its dominant position” in some national markets for the sale of chocolate bars. Mondelez made an accrual for the fine last year and no further measures will be necessary to finance it. In another case, Mondelez required a customer to charge higher prices for exports compared with domestic sales.

Persons: London CNN — Mondelez, Margrethe Vestager, Mondelez, “, Mark Thompson Organizations: London CNN, Cadbury, Union, European Commission, Mondelez International, EU Locations: Netherlands, Belgium, Germany, Austria, Bulgaria, Romania

☆ A college degree can lead to higher earnings—but 29% of Americans say it's not worth the cost
▼ + stars: | 2024-05-23 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

But the vast difference between the net worth of young adults with degrees compared with those without is difficult to ignore. But college graduates stood to benefit the most from both of these broader economic conditions. "Their employers are more likely to offer defined contribution retirement plans and the college-educated are more likely to participate in those retirement plans." Their stronger homeownership and retirement plan contribution rates and may be due to the fact that college graduates earn more. While nearly half of Americans say a college degree is less important today than it was 20 years ago, according to Pew, only 34% say it's very or extremely likely someone without a degree could get a well-paying job today.

Persons: Richard Fry Organizations: Pew, CNBC

☆ Wizz Air forecasts higher earnings, swings to annual profit after 3 years
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: +1 min

An Airbus A321-231 from Wizz Air is taking off from Barcelona Airport in Barcelona, Spain, on Feb. 23, 2024. European low-cost airline Wizz Air forecast a higher annual profit on Thursday on the back of a strong summer and robust travel demand, after swinging to an annual net profit after three years. Wizz Air reported a net profit of 365.9 million euros ($395.90 million) for the year ended March 31, compared with a net loss of 535 million euros a year earlier. That compares with a company-compiled consensus of a 350.8 million euros. The airline expects current year net income in the range of 500 million euros-600 million euros with revenue on each available seat kilometre up in high-single digits.

Persons: Jozsef Varadi Organizations: Airbus, Wizz, Barcelona Airport Locations: Barcelona, Spain, Hungary

☆ Nearly half of Americans say having a college degree is less important now than it was 20 years ago
▼ + stars: | 2024-05-23 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

In 2011, 86% of college graduates said their degree had been a good investment; in 2013, 70% of U.S. adults said a college education was "very important," according to Pew Research Center and Gallup surveys. Today, 29% of Americans say that college isn't worth the cost — and roughly half (49%) say having a four-year college degree is less important for landing a high-paying job today than it was 20 years ago, according to a new survey from the Pew Research Center. Only 22% of U.S. adults say the cost of getting a four-year degree today is worth it even if someone has to take out loans, Pew found. College graduates on average earn more than those without a four-year degree — but this so-called college wage premium is shrinking. A recent report from the San Francisco Federal Reserve found that the college wage gap peaked in the mid-2010s but declined by four percentage points in 2022.

Persons: Pew, Richard Fry Organizations: Pew Research Center, Gallup, U.S . News, College, San Francisco Federal Reserve, Economic, Institute, Pew, CNBC Locations: U.S

☆ A Gen Zer who spends $180,000 designing luxury vans shares the biggest mistake people make converting them
▼ + stars: | 2024-05-23 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +5 min

High-end travelers are turning to supervans with heated floors, Italian tiles, and home theatres, according to Lucas Ravizza, who builds and designs luxury vans for a living. AdvertisementLucas Ravizza is photographed inside one of the luxury vans he designed. Ravizza is among the many luxury van influencers sharing their designs online. Matt MaloneRavizza said he usually spends $180,000 buying and converting luxury vans for clients who use them as vacation homes. Ravizza said anyone can upgrade a van to add luxury elements, but there's one mistake they should avoid.

Persons: —, Lucas Ravizza, Tom Ripert, Ripert, Lucas, Matt Malone, Ravizza, Matt Malone Ravizza Organizations: Service, Business, Financial Times, Econ Market Research Locations: San Francisco

☆ Does college still pay? Workers without a degree are doing better than they have in years, report finds
▼ + stars: | 2024-05-23 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

watch nowOutcomes for workers without a degree are improvingIn fact, young adults without a college degree are doing better than they have in years, according to Pew's analysis of government data. Since then, circumstances — and earnings — have continued to rise for workers with just a high school diploma or some college. Improving job opportunities for "new-collar" workers without a degree continues to drive more students away from college. Finishing college puts workers on track to earn a median of $2.8 million over their lifetimes, compared with $1.6 million if they only had a high school diploma, Georgetown's report found. Adults with at least a bachelor's degree report higher financial well-being than adults with lower levels of education, according to a Federal Reserve study on economic well-being of U.S. households.

Persons: Fry, —, Hafeez Lakhani, There's, Pew, Paul Steiner Organizations: Labor, Georgetown University Center, Education, Federal, College, ECMC Group, Virginia's Fairfax County Public Schools, Community Education Locations: New York, York, U.S, Virginia's Fairfax County

☆ Nvidia stock keeps hitting records. Can investors with little to no shares still buy?
▼ + stars: | 2024-05-23 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

While known for sizeable pullbacks in the past, the upward trajectory of Nvidia's stock last year and this year cannot be denied. We've been in Nvidia stock since 2019, years before the AI revolution was sparked by ChatGPT's viral moment shortly after its late 2022 launch. Through its Nvidia AI Enterprise service, Nvidia is in the process of building out a potentially massive software business. With that, let's think about Nvidia stock from the perspective of a long-term investor— and that's the key consideration, the investment horizon. At the beginning of the year, Nvidia stock traded at $481 per share on a $20.80 forward earnings estimate or a forward P/E multiple of 23 times.

Persons: We've, Jim, —, Jensen Huang, Leonardo da Vinci, Jim —, it's, It's, you've, Nvidia's, Colette Kress, Tesla, Kress, Jim Cramer's, Jim Cramer, Josh Edelson Organizations: Nvidia, Club, Apple, Enterprise, Devices, Intel, Investing, GE, NVIDIA, CNBC, SAP Center, Afp, Getty Locations: San Jose , California

☆ Senate Democrats launch investigation into alleged Trump ‘quid pro quo’ with oil executives
▼ + stars: | 2024-05-23 | by ( Kaanita Iyer | ) edition.cnn.com time to read: +3 min

CNN —Senate Democrats have launched an inquiry into recent reports that Donald Trump offered oil executives the reversal of some of President Joe Biden’s climate policies upon the former president’s reelection in exchange for campaign contributions. The committees are seeking “descriptions of policy proposals discussed” and “materials distributed to any attendees” at the event. “Time and time again, both Mr. Trump and the U.S. oil and gas industry have proved they are willing to sell out Americans to pad their own pockets,” Sens. In his first term, Trump overturned more than 100 environmental rules and actions put in place by the Obama administration. Trump has vowed that if he’s reelected he will reverse those actions and boost fossil fuels, and oil and gas drilling.

Persons: Donald Trump, Joe Biden’s, Trump, Sens, Ron Wyden, Sheldon Whitehouse, Biden, ”, ” Trump, Karoline Leavitt, Obama, he’s, CNN’s Morgan Rimmer, Kate Sullivan, Ella Nilsen, Jeremy Herb Organizations: CNN, Democrats, Senate Finance, ExxonMobile, Chevron, Oregon, Big, The Washington Post, Trump Locations: U.S, Rhode, The, Lago

☆ 'Zoomtown' slowdown: 18 cities where rents have plummeted from their pandemic peak
▼ + stars: | 2024-05-23 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

That figure was 0.7%, or $12, less than in 2023 but is still 22.5% higher than the pre-pandemic rent rate of $1,407 in April 2019. Advertisement18 cities where rents have fallenRenting is also much more affordable than it was during the pandemic peak. The typical Austin apartment in April went for $1,494, which is down 11.5% — or nearly $200 — from the peak rent of $1,689 in September 2022. Below are the 18 US cities, many of which became Zoomtowns during the pandemic, where apartment prices are down at least 5% from their post-2019 peak. Along with each is its median rent in April, year-over-year rent change, peak rent, and change from that peak rent figure.

Persons: —, Realtor.com, Jiayi Xu, Xu, Austin Organizations: Service, Business, Star Locations: Austin

☆ One of the US's busiest cruise ports can't keep up with America's love for vacations at sea — but an urgent new terminal will help meet the demand for giant cruise ships
▼ + stars: | 2024-05-23 | by ( Brittany Chang | ) www.businessinsider.com time to read: +6 min

Port Canaveral announced new plans to build a seventh cruise terminal by 2026. But Port Canaveral is running out of space as demand for these vacation voyages continues to skyrocket. When complete, it could accommodate the world's largest cruise ships, including Royal Caribbean's new 1,198-foot-long, 9,950-person-capacity Icon of the Seas. The project would've taken three to four years to complete — too long a timeline for Port Canaveral. "We can't shut down operations at Port Canaveral because the state can't get the road infrastructure in a timely manner," he added.

Persons: —, John Murray, Murray, Royal Caribbean's, Brittany Chang, Ross Klein, UCG, Jamie Glasner, Glasner Organizations: Canaveral, Infrastructure, Service, Disney, Sunshine State, Port Canaveral, Canaveral Port, Royal, Business, MSC Group, Disney Cruise, Memorial University of Newfoundland, Glasner, US Customs, Border Protection, Florida Department Locations: Florida, Miami, Canaveral, Port Canaveral, Port, Caribbean

☆ Is Pet Insurance Worth It? for Most People, the Answer Is No.
▼ + stars: | 2024-05-23 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

The North American Pet Health Insurance Association found that pet owners in the US paid $3.9 billion in premiums in 2023, a 22% increase from the year before. One thing is for sure: As the industry grows, pet insurance is becoming as confusing and messy as health insurance is for humans. Pet insurance isn't technically even health insurance; it falls in the property-and-casualty category. AdvertisementThe big problem with pet insurance is it's just an expensive productThere are three categories of pet insurance: accident only; accident and illness; and accident, illness, and wellness. Advertisement"It's important that pet owners understand the scope of what their pet insurance does and does not cover, so they're not caught off guard by unexpected payments," he said.

Persons: Gina Papini, Kato, Papini, That's, they've, Kevin Brasler, that's, Dan, Michael San Filippo, they're, Doug Kenney, Kenney, It's, Brasler, she's, Emily Stewart Organizations: American Pet Products Association, Pet Health Insurance Association, American Veterinary Medical Association, Rover, Consumers, Business Locations: reimbursing, Mexico

☆ A US Navy carrier strike group locked in a Red Sea battle has fired over 500 munitions fighting the Houthis
▼ + stars: | 2024-05-23 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Read previewThe US Navy carrier strike group battling the Houthis in the Red Sea has fired more than 500 munitions throughout its deployment, striking the rebels directly in Yemen and intercepting their missiles and drones. The strike group has leaned on its aircraft and warships to engage targets and defend against varying threats. Sailors observe as an F/A-18E Super Hornet lands on the flight deck aboard the Nimitz-class aircraft carrier USS Dwight D. Eisenhower in the Red Sea on March 12. Aircraft from the strike group have flown more than 27,200 hours across over 12,100 sorties. The Arleigh Burke-class guided-missile destroyer USS Carney defeats a combination of Houthi missiles and drones in the Red Sea on Oct. 19.

Persons: —, Dwight D, Eisenhower, Navy Carlos Del Toro, Arleigh Burke, Carney, Aaron Lau, National Intelligence Avril Haines, We've, It's Organizations: Service, US Navy, Eisenhower Carrier Strike, Ike, Business, Nimitz, Hornet, EA, Aircraft, Navy, Tomahawk, National Intelligence, Pentagon Locations: Yemen, Gulf, Aden, Iran, Hessen

☆ Cramer's Lightning Round: Sigma Lithium is 'too dicey'
▼ + stars: | 2024-05-23 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Arista Networks' year-to-date stock performance. Stock Chart Icon Stock chart icon Sigma Lithium's year-to-date stock performance. Stock Chart Icon Stock chart icon Trump Media & Technology Group's year-to-date stock performance. Stock Chart Icon Stock chart icon Eli Lilly's year-to-date stock performance. Stock Chart Icon Stock chart icon Sony Group's year-to-date stock performance.

Persons: Jayshree, Eli Lilly's, Eli Lilly, it's, Jim Cramer's Organizations: Arista Networks, Arista, Sigma, Trump Media & Technology, Sony

The U.S. Department of Justice is suing to break up Live Nation, the parent company of Ticketmaster, over alleged antitrust violations. "The DOJ's complaint attempts to portray Live Nation and Ticketmaster as the cause of fan frustration with the live entertainment industry. Live Nation and Ticketmaster merged in 2010, creating a dominant entity in the live event industry. Through Ticketmaster, Live Nation controls roughly 80% or more of major concert venues' primary ticketing for concerts, the complaint said. Live Nation earlier this month reported its "biggest Q1 ever," citing first-quarter revenue that was up 21% from the prior-year period.

Persons: Taylor, General Merrick Garland, Dan Wall, Taylor Swift Organizations: U.S . Department of Justice, Ticketmaster, DOJ, The Justice Department, Southern, of, Oak View, Nation, Live Locations: United States, North America, U.S, of New York

We'll show you how to watch Celtics vs. Pacers Game 2 live streams from anywhere. You can also bookmark our NBA Playoffs hub for info on future Celtics vs. Pacers games. ET / 5 p.m. PT on ESPNWhere to watch Pacers vs. Celtics in the USCeltics vs. Pacers Game 2 will air on ESPN on Thursday at 8 p.m. For cord-cutters, this means exploring a live TV streaming cable alternative like Sling TV. Sign up for a live TV streaming package if you don't already have one.

Persons: Jaylen Brown, ExpressVPN Organizations: Business, Boston Celtics, . Indiana Pacers, Eastern Conference, Celtics, Pacers, ESPN, The Celtics, Milwaukee Bucks, New York Knicks, PT, US Celtics, Sling Locations: United States

☆ Stocks making the biggest moves before the bell: NVDA, LYV, SNOW
▼ + stars: | 2024-05-23 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Snowflake posted $829 million in revenue, while analysts polled by LSEG had called for $786 million. Adjusted earnings for the period came in at 14 cents a share, however, missing the consensus estimate by 4 cents. Beauty — The cosmetics maker added 3.4% after easily surpassing consensus forecasts from analysts surveyed by FactSet for the fiscal fourth quarter. posted 53 cents in earnings per share, excluding items, on $321.1 million in revenue, while analysts penciled in just 33 cents on $292.6 million in revenue. On top of that, LiveRamp offered firm revenue guidance for both the current quarter and full year.

Persons: Snowflake, LSEG, NetEase, FactSet, e.l.f, LiveRamp, Cytokinetics, Goldman Sachs, Morgan Stanley, Ed Bred, Lori Koch, Alibaba, GoodRX, —, Jesse Pound, Pia Singh, Yun Li, Tanaya Macheel, Sarah Min, Michelle Fox Organizations: Nvidia, Micro, Taiwan Semiconductor, Bloomberg, Department of Justice, of, News, Corp, JPMorgan, DuPont de Nemours, DuPont, Bloomberg News, Bank of America, RBC, Hasbro —, Hasbro Locations: Southern, of New York, —

☆ Pinduoduo: Americans are flocking to Temu and making its Chinese owner very rich
▼ + stars: | 2024-05-23 | by ( Laura He | ) edition.cnn.com time to read: +4 min

The Shanghai-based company reported Wednesday that net profit soared 246% to 28 billion yuan ($3.9 billion) in the first quarter of 2024, more than double the average analyst estimate of 12.62 billion yuan ($1.7 billion), according to LSEG data. Revenue jumped 131% to 86.81 billion yuan ($12 billion) in the period, also comfortably beating expectations. He is still the company’s biggest shareholder, with a stake of 25% stake, and ranks as China’s second richest man with a fortune of nearly $52 billion, according to the Bloomberg Billionaires Index. Temu, PDD’s international app, was launched in 2022, and as of last November it had acquired nearly 17% of the US online discount store market, according to Earnest Analytics. Last month, South Korean regulators investigated Temu on suspicion of false advertising and unfair ppractices, according to the Yonhap news agency.

Persons: Nomura, PDD, Colin Huang, Pinduoduo, Alibaba’s Taobao, Morgan Stanley, ”, Lei Chen, Chen Organizations: Hong Kong CNN — PDD Holdings, Revenue, Nasdaq, Bloomberg, Data Locations: Hong Kong, Shanghai, “, PDD’s, Alibaba, Hangzhou, Beijing, China, European

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