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Trump Media & Technology Group — After former President Donald Trump's company said on Tuesday that the Securities and Exchange Commission had declared effective Trump Media's registration of additional shares, the stock dropped 13.5%. Super Micro Computer — Shares jumped 5% after Elon Musk said the company will help his AI firm, xAI, build a supercomputer . Winnebago reported $1.13 in adjusted earnings per share on $786 million of revenue for its fiscal third quarter. Commercial Metals — Shares gained 5.6% after the company reported a revenue beat for its third quarter. Analysts surveyed by LSEG had forecasted $1.80 earnings per share and $1.65 billion in revenue.
Persons: lenacapavir, Donald Trump's, Elon Musk, Piper Sandler, Winnebago, FactSet, Heather Balsky, Jabil, LSEG, , Alex Harring, Hakyung Kim, Sarah Min, Jesse Pound, Lisa Han Organizations: Accenture, Gilead Sciences, Trump Media & Technology, Securities and Exchange Commission, Trump, Darden, Garden, LongHorn, LSEG . Revenue, Winnebago Industries, Bank of America, Jazz Pharmaceuticals, Metals, Revenue, KB
When consumer sentiment falters or the economy starts to teeter, RV sales follow suit, said Michael Hicks, an economics professor at Ball State University and director of Indiana University’s Center for Business and Economic Research. “People don’t make these large, luxury purchases unless they’re actually feeling better about the economy,” said Hicks, who follows the RV industry closely. “It’s so sensitive to interest rate changes, which often precede a downturn.”A Winnebago travel trailer at Motor Sportsland RV dealership in Salt Lake City on April 6, 2020. Nika Shneyder and her father and business partner, Alex Shneyder, standing by a Chill RV in Malibu RV Park, California, in 2019. They moved down to a historically strong, but noticeably smaller, 493,000 the next year, according to data from the RV Industry Association.
Persons: That’s, Nika Shneyder, “ We’re, ” Shneyder, , Michael Hicks, , Hicks, George Frey, bode, ” Michael J, Happe, hasn’t, We’ve, we’ve, Covid, Alex Shneyder, Nika, they’d, Monika Geraci, David Titus, Ty Wright, there’s, Ball State’s Hicks, ’ Titus, they’re, we’ll, Titus, ” Titus Organizations: CNN, Ball State University, Indiana University’s Center for Business, Economic Research, Bloomberg, Getty, Winnebago Industries, RV Industry, Dealers, RVs, Consumers, HL Enterprise, Manufacturing, of Labor Statistics Locations: Los Angeles, teeter, Salt Lake City, YOLO, Malibu, , California, Elkhart , Indiana, The Northern Indiana, South Bend, Elkhart, , Elkhart .
Investors will listen for the central bank's latest perspective on interest rates following the hotter-than-expected CPI and PPI reports this week. As members know, the market is looking for any signs of further disinflation in the housing market as shelter cost inflation remains the Fed's biggest concern. No club names report earnings next week, but we can't wait to see what Nvidia has to show us at its GTC AI developer conference . Other key reports include KB Home on Wednesday, which will provide a real-time look at the state the housing market, unlike the backward-looking housing reports. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: we'll, That's, Jerome Powell's, We're, Jensen, Jim Cramer, Huang, He'll, Lululemon, General Mills, OLLI, LULU, Jim Cramer's, Jim, Jerome Powell, Leah Millis Organizations: Dow, Nasdaq, PPI, Nvidia, Blackwell, CNBC, Micron Technology, Citi, Micron, Broadcom, Nike, FedEx, Music Entertainment, ZTO, Signet Jewelers, SIG, Sportradar, Micron Tech, KB, Worthington Industries, Accenture, Darden, Academy Sports &, Lufax, Brands, Winnebago Industries, Commercial Metals Company, Jim Cramer's Charitable, U.S . Federal, Federal, Market Locations: U.S, California, China, Washington , U.S
Such blackouts happen, for instance, when SpaceX’s Crew Dragon capsule returns to Earth from the International Space Station with its complement of four astronauts. Mission controllers must wait with bated breath to be reassured that the spacecraft’s heat shield has held up and protected the crew during atmospheric re-entry. Until Starship succumbed to the intense forces of re-entry on Thursday, SpaceX used its Starlink internet satellites to relay the live video feed. The Starlink satellites are in higher orbits, and sending signals upward — away from the plasma — is easier than trying to communicate through it to antennas on the ground. Before it parachuted to the ground, its Winnebago capsule recorded a day-glow re-entry.
Persons: Varda Organizations: International, SpaceX
Stocks may crash 30% and a recession could hit within months, Gary Shilling said. Shilling predicted the housing market would rebound in time, and dismissed de-dollarization fears. AdvertisementA legendary market prophet has warned that overpriced stocks may come crashing down, and a recession might strike within months. "Stocks are very, very expensive now" relative to both corporate earnings and rival assets like Treasury bonds, Gary Shilling recently told the Retirement Lifestyle Advocates radio show. The president of A. Gary Shilling & Co. is known for making several prescient market calls over the past four decades.
Persons: Gary Shilling, Shilling, , Merrill Lynch's, bitcoin, It's, there's Organizations: Service, Polaroid, Federal Reserve, Fed, Companies, Homes, greenback
When two Native American boys from Nebraska died after being taken to a notorious boarding school hundreds of miles away in Pennsylvania, they were buried there without notice. After it opened in 1879 in an old Army barracks, thousands of Native American children were sent by train and stagecoach to Carlisle. In 1990, Congress passed the Native American Graves Protection and Repatriation Act, or NAGPRA. Interior Secretary Deb Haaland, the first Native American Cabinet secretary, has pushed the government to reckon with its role in Native American boarding schools. At least 500 children died at some of the schools, including Carlisle.
Persons: Samuel Gilbert, Edward Hensley, Samuel, Edward, weren't, Jan, , Greg Werkheiser, Richard Henry Pratt, Jim Thorpe, , Deb Haaland, , Beth Wright Organizations: Nebraska, Army, Carlisle Indian Industrial School, , Cultural Heritage Partners, Department of Interior, War Department, Medical Field Service School, American, Protection, United States Congress, Interior, Native American, Native American Rights Fund Locations: Pennsylvania, Winnebago, Carlisle, Nebraska, Servicemembers, Lake, Washoe, Umpqua, Ute, Rosebud Sioux, Northern Arapaho, Blackfeet, Oglala Sioux, Oneida, Omaha, Modoc , Iowa
This marks the second time that Morgan Geyser, now 21, has asked a judge to release her from the Winnebago Mental Health Institute. She made a similar request for conditional release in 2022 but withdrew the petition two months after filing it. Geyser asked the judge to order a new round of medical tests and grant her conditional release if the results are favorable. Weier pleaded guilty to attempted second-degree intentional homicide and was also sent to the psychiatric facility after a jury found she was suffering from a mental illness at the time of the attack. Weier was granted a conditional release in 2021 to live with her father and was ordered to wear a GPS monitor.
Persons: Morgan, Michael Bohren, Geyser, Weier, Payton Leutner, Leutner, Weier egged Organizations: Winnebago Mental Health, Police Locations: WAUKESHA, Wis, Wisconsin, Winnebago, Waukesha
The $50 billion travel trailer industry is finally hitching up to the electric vehicle ecosystem. As more Americans move to electric cars, the trailer industry has to evolve because the towing runs down the battery quickly. The drag on battery power can make towing an RV long distances with an EV prohibitive. In addition to UpHonest, Pebble is backed by Lightspeed and Vision Plus. With the solar and battery power, the Pebble makers say it can live off the grid for seven days, without propane or a generator required.
Persons: Bingrui Yang, Ellen Ma, Yang, , Lisa Rizzolo Organizations: Pebble Mobility, Mobility, Apple, UpHonest, Lightspeed, Vision, CNBC PRO Locations: Winnebago, California
Results haven't been bad, but the macro is overwhelming everything, and fourth-quarter guidance is slipping. Here's a general rule for the stock market: earnings are the main determinant of stock prices in the long run, but in rare cases macro trends can overwhelm their message. Earnings are OK, but the trend is down On the surface, this looks like a good earnings season. With earnings, however, it's the trend in the forward quarter that matters: is the trend up or down? If Treasury yields stabilize or even move lower, that will be a more important factor than a slightly lower earnings environment.
Persons: Here's, CNBC's Robert Hum, Sellers, Chubb, Sherwin, Williams, Kimberly Clark, Campbell, Swift, FactSet's John Butters, what's Organizations: Microsoft, Waste, Norfolk, Procter, Gamble, Pepsi, Soft, Nvidia, Express, Visa, Southwest Airlines Locations: Meta, Winnebago, Corning, Big Tech, Treasurys
Late Tuesday, the company posted third-quarter results that fell short of Wall Street's expectations on the top and bottom lines. The company posted third-quarter adjusted earnings of $1.55 per share on adjusted revenue of $1.14 billion. Abbott posted earnings of $1.14 per share, excluding items, beating analysts' estimates by 4 cents a share, according to FactSet. It posted revenue of $2.69 billion, which was not immediately comparable to consensus estimates. It posted revenue of $771.0 million, lower than the consensus estimate of $784.3 million, according to FactSet.
Persons: Morgan Stanley, . Hunt, Gamble — Procter, LSEG, Abbott, Michael Happe, , Yun Li, Sarah Min, Tanaya, Hakyung Kim, Pia Singh Organizations: United Airlines —, United Airlines, Nvidia, U.S, Citi, Devices, Marvell Technology, Hunt Transport Services, LSEG, Interactive, Procter, Gamble, Abbott, Financial, Citizens Financial, State, FactSet, Winnebago Industries, Winnebago, Bancorp, U.S . Bancorp, Bank of America Locations: Tel Aviv, Israel, China, LSEG, Albemarle —
But that masked a big problem for the company – weaker discretionary spending. Winnebago blamed "lower unit sales related to current market conditions and dealer efforts to reduce inventories, and higher discounts and allowances." CEO Michael Happe said "the consumer market continues to be challenged, and our fourth quarter results reflect a stubborn retail environment." By the second half of the fiscal year, though, Happe is optimistic that inventories will normalize and consumer demand will stabilize. Winnebago's stock, which was down 3% Wednesday, had fallen about 13% over the last three months, far underperforming the broader market.
Persons: Winnebago, RVs, Price, Michael Happe, Happe Organizations: Winnebago Industries Inc, Industries Locations: Salt Lake City , Utah, U.S, Winnebago
RV maker 27North's newest is a pickup truck-based camper called RexRover. 27North's chief market strategist says the company is seeing high sales despite the RV industry "bloodbath." Sales have been looking grim across the general RV industry. These once-invincible brands have been seeing a dip in RV sales. And shipments for these vehicles have dropped 47.7% from 2023 compared to the same time in 2022, according to July data from the RV Industry Association.
Persons: Winnebago Organizations: Service, RV Industry Association Locations: Wall, Silicon
Sales of travel trailers — and RVs in general — have slumped since the industry's heyday during the COVID-19 pandemic. Amid this decline, Winnebago has unveiled a new cheap travel trailer: the $29,600 Access. AdvertisementAdvertisementWinnebago has unveiled its cheapest entry-level travel trailer yet in a bid to attract budget travelers amid the legacy RV maker's slump in sales. Shipments for these homes on wheels have dropped 47.7% from 2023 compared to 2022, according to July data from the RV Industry Association. And looking at travel trailers specifically, shipments have slid 51.9% during that same period.
Persons: , Winnebago Organizations: Morning, RV Industry Locations: Winnebago
RV sales have slumped after hitting a record high during the COVID-19 pandemic. Winnebago is betting a refresh of its popular Solis Pocket camper van will bring in new buyers. Amid a slump in RV sales, Winnebago is betting a refresh of its popular Solis Pocket camper van will bring the legacy RV company a needed boost. And this boon was immediately felt across the industry as travelers began scrambling to buy tiny homes on wheels. Sales were so frenzied, Winnebago amassed an astounding $4.37 billion backlog in orders in 2022.
Persons: Solis, Winnebago Organizations: Morning, Winnebago
July 25 (Reuters) - The U.S. economy may ultimately skirt a recession, but it's felt like one for months at Jon Ferrando's 103 RV dealerships. "Our industry has always been a little challenged on forecasting around demand," said Jason Lippert, CEO of LCI Industries, a large supplier of parts to the RV industry that is also based in Elkhart. "If I was just looking at RV data, I would be screaming recession," said Michael Hicks, an economics professor at Ball State University in Indiana who tracks the industry, adding that pullbacks in RV shipments have signaled every U.S. recession since 1981. "We expect in the second half of this year shipments (of RVs) will start to increase again," Geraci said. Gregg Fore, an RV industry consultant who previously ran an RV parts supplier, said half the new inventory at some dealers he works with are 2022 models.
Persons: it's, Jon Ferrando's, Ferrando, Michael Happe, Eden, Jason Lippert, Michael Hicks, RVIA, Monika Geraci, Geraci, Gregg Fore, Tyler Hermon, Timothy Aeppel, Dan Burns, Paul Simao Organizations: Winnebago Industries, Federal Reserve, RV Industry Association, Thor Industries, LCI Industries, Ball State University, Dealers, Thomson Locations: U.S, Fort Lauderdale , Florida, RVs, United States, Elkhart , Indiana, Eden Prairie , Minnesota, Elkhart, Indiana, North America, RVing
Check out the companies making headlines in premarket trading. MicroStrategy — The cloud services firm with exposure to bitcoin added 2.9% in premarket trading, following other names higher. The company reported an adjusted $2.13 per share against estimates of $1.78, according to FactSet. Spotify — Shares of the music streaming service rose about 2% in premarket trading after Wolfe Research upgraded Spotify to outperform from peer perform. Exact Sciences — Shares added 6% on news of research agreements with The MIT and Harvard Broad Institute to exclusively use the company's molecular residual disease diagnostic testing platform.
Persons: Mike Lenz, Coinbase, MicroStrategy, Tesla, Wolfe, Price, Rivian, Jesse Pound Organizations: FedEx Corp, FedEx, Riot, U.S . Securities, Exchange Commission, Barclays, Winnebago Industries, Spotify, Wolfe Research, MIT, Harvard Broad Institute Locations: Midtown, New York, U.S
An American flag hangs behind traders working on the floor of the New York Stock Exchange (NYSE) on October 11, 2019 in New York City. Morgan Stanley, for example, has adopted a downbeat view for the months ahead. Falling prices, Morgan Stanley explained, can cut into revenue growth and weigh on earnings. "This should begin to hit asset prices by the end of this month and carry into the fall," Morgan Stanley strategists said. To Stockton, the S&P 500 could soon trade as high as 4,510, or about 3% higher than current levels.
Persons: I'm Phil Rosen, Jerome Powell, Drew Angerer, Morgan Stanley, Mike Wilson, Katie Stockton, Stockton, Morgan Stanley's bearishness, Rick Bowmer, Tom Lee, Phil Rosen, Jason Ma, Hallam Bullock Organizations: Capitol, Financial Services, Committee, Fed, New York Stock Exchange, NYSE, Advance, Bank of England, Patterson Companies, Winnebago Industries, Bloomberg, Manheim Locations: American, New York City, Stockton, Salt Lake City, London, China, Europe, New York, Los Angeles
Three-Stock Lunch: FDX, EGO & PTON
  + stars: | 2023-06-21 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: FDX, EGO & PTONQuint Tatro, Joule Financial founder, joins ‘Power Lunch’ to discuss three stocks: FedEx, Winnebago and Peloton.
Persons: PTON Quint Tatro Organizations: Joule Financial, FedEx Locations: Winnebago
U.S. stock futures were near flat on Tuesday evening as investors took a breather from last week's market rally. S&P 500 futures inched down by 0.06% and Nasdaq 100 futures lost 0.03%. The S&P 500 slid 0.47%, and the Nasdaq Composite lost 0.16%. Stocks are overbought and in need of a catalyst, according to Quincy Krosby, chief global strategist for LPL Financial. Indeed, last week the S&P 500 hit its highest level since April 2022 and posted its fifth consecutive positive week.
Persons: Quincy Krosby, Jerome Powell, Powell, Krosby, Winnebago Organizations: New York Stock Exchange, Dow Jones, Nasdaq, FedEx, Dow, LPL, U.S, Home, Financial Locations: New York City . U.S, Quincy
Also on tap are several speaking engagements for Federal Reserve members, including Chair Jerome Powell on Wednesday and Thursday in his semiannual monetary policy report to Congress. ET: St. Louis Fed president Jim Bullard speaks 8:30 a.m. ET: Federal Reserve Chairman Jerome Powell speaks 12:25 am. ET: Federal Reserve Chairman Jerome Powell speaks 10:00 a.m. Federal Reserve Board Chairman Jerome Powell departs after speaking during a news conference following the Federal Open Market Committee meeting, at the Federal Reserve in Washington, DC, on June 14, 2023.
Persons: Jerome Powell, Louis, Jim Bullard, John Williams, Austan Goolsbee, Loretta Mester, Tom Barkin, Friday's, Jim Cramer's, Jim Cramer, Jim, Mandel Ngan Organizations: Federal Reserve, Darden, FedEx, Louis Fed, Housing, NY Fed, Federal, Chicago Fed, Patterson Companies, Winnebago Industries, Algoma Steel, Cleveland Fed, Richmond Fed, Commercial Metals, U.S, Treasury, Jim Cramer's Charitable, CNBC, AFP, Getty Locations: United States, Olive, Washington ,
For now, it's not a brighter economic picture or an exuberant earnings outlook pushing stocks higher. Another reason that some investors have come back to stocks is simply because the S & P 500 ended the week more than 23% above last October's low. "The next level of resistance is above 4,500 on the S & P. Historically, the market gains 14.5% on average between the 20% threshold level and the next decline of 5% or more. "Inflation peaked in June of last year and has been rapidly declining over the past 12 months. Trading the week after is often treacherous, Hirsch said, with the Dow Jones Industrials falling in 27 of the past 33 years and the S & P 500 down in 23 of 33 years.
Persons: it's, Sam Stovall, Clinton, Wells Fargo, Chris Harvey, Harvey, Jay Hatfield, Price, CarMax, Stovall, Jeffrey Hirsch, Hirsch, Dow Jones Industrials, York Fed's John Williams, Jerome Powell, Philip Jefferson, Lisa Cook, Adriana Kugler, Avid Bioservices, Patterson Cos, Christopher Waller, Michael Bloom, Fred Imbert, Alex Harring Organizations: Fed, CFRA, Microsoft, Infrastructure Capital Management, Consumer, PPI, FedEx, Darden, Dow, Housing, Financial, Enerpac, Avid, Banking, Accenture, Commercial Metals, P, PMI Locations: New York, York, Dublin
Stock futures were little changed Tuesday evening as investors braced for the Federal Reserve's next move in its inflation-fighting rate hiking plan. S&P 500 futures added 0.01% and Nasdaq 100 futures hovered at the flat line. The moves came as fears over the ongoing banking crisis showed signs of easing, with investors "heartened by the increasing likelihood that the end of Fed policy tightening is near," said Brian Levitt, global market strategist for Invesco. "Fed tightening cycles typically end with a crisis, and those crises tend to end with policy responses. Investors are looking forward to the latest update from the Fed, at the conclusion of its two-day policy meeting on Wednesday.
Two things will capture all the market's attention in the coming week: The Federal Reserve's March meeting and the government's ongoing attempt to quell worries about the banking system. If it raises, Powell should speak softly; no raise and Powell should strongly remind the market that the work isn't done. Still, for the week, U.S. stocks fared better, with the S & P 500 rising 1.5% and the Nasdaq gaining 4.5%. On Thursday, initial jobless claims for the week ended March 11 came in at 192,000, a decrease of 20,000 from the prior week and below the expected 205,000. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
The electrified RV can stay off-grid for up to a week with the help of 900 watts of solar power and a proprietary 48-volt, 15,000-watt-hour lithium battery stored under the floor of the tiny home.
Accenture issued a revenue range for the current quarter whose midpoint is below current consensus and said the stronger U.S. dollar will impact its fiscal 2023 results by 5%. Maxar Technologies (MAXR) – The satellite owner and operator's shares more than doubled in the premarket after it agreed to be acquired by private equity firm Advent International for $53 per share. Guardant Health (GH) – Guardant shares plunged 33.4% in the premarket following trial results for its DNA blood test for colorectal cancers. Adobe also issued upbeat current quarter guidance. U.S. Steel (X) – U.S. Steel issued better-than-expected current quarter guidance and said commercial demand for steel is on the upswing in the U.S.
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