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☆ Best-performing Q2 sector: Nvidia and AI-related stocks drive tech higher
▼ + stars: | 2024-06-24 | 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 EmailBest-performing Q2 sector: Nvidia and AI-related stocks drive tech higherAlex Kantrowitz, Founder of Big Technology, discusses tech as the best performing sector in Q2 and whether the trend can continue next quarter.

Persons: Alex Kantrowitz Organizations: Nvidia, Big Technology

☆ Stocks making the biggest moves before the bell: Nvidia, Ferrari, Planet Fitness, Cinemark and more
▼ + stars: | 2024-06-24 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

UPS shares were unchanged in premarket trading. Planet Fitness — The budget-friendly gym chain climbed 3.1% after TD Cowen named the stock a top pick and raised its rating to buy from hold. Affirm — The buy-now-pay-later stock jumped 3.2% on the heels of Goldman Sachs' initiation at a buy rating. IBM — The legacy tech giant moved 1.4% higher after Goldman Sachs initiated coverage with a buy rating. Cinemark — Shares popped 3.3% after Roth MKM upgraded the American movie theater chain to buy from neutral, citing "meaningful box office improvement."

Persons: Eli Lilly — ResMed, Eli Lilly's, Eli Lilly, Jefferies, TD Cowen, Goldman Sachs, Goldman, Roth MKM, —, Michelle Fox, Sarah Min, Jesse Pound Organizations: Coyote Logistics, UPS, RXO, Coyote, Nvidia, Carrier, Citi, Ferrari —, UBS, Anheuser, Busch InBev —, IBM

☆ This hyper-exclusive CEO training program doesn't care about your 4.0 GPA
▼ + stars: | 2024-06-24 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +10 min

The promise of a more rapid climb up the corporate ladder has made Alpine's CIT program incredibly popular. While it's too soon to know how Alpine's CIT program ranked this year, it received 750 applications for just 12 slots. AdvertisementAnderman's own non-conventional career took her from college dropout to ballet dancer to the world of international development to business school. When she interviewed for her job at Alpine, Weaver asked how she could handle the job with no prior experience. — Alpine's founder and CEO — Alpine's founder and CEOThe first attribute the company looks for is IQ, but not in the traditional kind.

Persons: —, it's, Tal Lee Anderman, you've, Tal Lee Anderson, Graham Weaver, GSB, Weaver, whittle, Anderman, David Wurtzbacher, Wurtzbacher, they're, Geoff Smart Organizations: Service, Business, CIT, Harvard Business School, Stanford's, School of Business, Wharton School, University of Pennsylvania, Harvard, Tal Lee Anderson Alpine, Stanford, Wharton, Kellogg School of Management, Northwestern, University of Chicago Booth School of Business, Alpine, Alpine's San, Citadel, Yale Law School, America Locations: Alpine's, Alpine's San Francisco, Blackstone, Anderman, Manhattan, Jackson , Mississippi, Hong Kong

☆ Manchester Airport: ‘Significant number of flights’ disrupted due to power cut
▼ + stars: | 2024-06-23 | by ( Alex Stambaugh | ) edition.cnn.com time to read: +1 min

CNN —Manchester Airport, one of the UK’s busiest airports, has been impacted by a power cut early this morning. A “significant number of flights” operating from the airport in northern England have been impacted by a “major” power cut in the area, the airport said in a statement on Sunday. “Manchester Airport was affected by a major power cut in the area earlier this morning. This has caused widespread disruption and a significant number of flights, particularly from Terminals 1 and 2, are expected to be delayed or cancelled,” the airport said. This story has been updated with additional information.

Organizations: CNN, Manchester Airport, Manchester Locations: England

☆ I went to Cracker Barrel and saw why the restaurant chain is 'not as relevant' as it once was
▼ + stars: | 2024-06-23 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

Cracker Barrel's CEO recently said that the chain is "not as relevant" as it used to be. The restaurant chain is well-known for its vintage decorations and store full of kitsch. I went to a Cracker Barrel outside of Washington, DC, to see what's going on. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: —, that's, hasn't, We're, Julie Masino Organizations: Service, Business Locations: Washington

☆ Warnings signs for Biden’s Jewish support as war in Gaza drags on and antisemitism rises
▼ + stars: | 2024-06-23 | by ( Edward-Isaac Dovere | ) edition.cnn.com time to read: +14 min

Still, conversations about a possible drift toward Donald Trump, though, are evident in the several Jewish elected Democratic leaders who grimaced and ducked when asked by CNN to discuss their sense of Jewish support for Biden. Talking with Jewish voters in Michigan, “I’ve had a couple of people say point blank, ‘How could any Jew vote for a Democrat?’” said Troy Zukowski, the West Michigan chair of the Michigan Jewish Democrats. The president does have some key Jewish voices of support in important places. Trump’s support among Jewish voters in 2020, at 30% according to Associated Press exit polls, was the highest for a Republican presidential candidate in decades. The expected central theme of that effort, according to one of the people involved, will be: As a Jewish American, do you feel safer than you did four years ago?

Persons: Joe Biden’s, –, Biden, Joe ”, Kamala Harris, Doug Emhoff, Donald Trump, grimaced, megadonor Haim Saban, “ I’ve, ’ ”, Troy Zukowski, “ I’m, I’m, Alejandro Mayorkas, Neera Tanden, Jon, John Kirby, Kirby, Joe Biden, ”, Josh Shapiro, “, Shapiro, Pharaoh, Hitler, Kim Jong, Benjamin Netanyahu’s, Emhoff, Ben Stiller, chitchatting, Alex Edelman’s, Israel, sickening ”, Trump, Morgan Ortagus, Haile Sofer, Jake Sullivan, Netanyahu, Lee Zeldin, ” Zeldin, Rashida, Harris, Biden “, ” Emhoff, who’s, antisemites, Andrew Weinstein, it’s, “ He’s, I’ve, Joe Organizations: Washington CNN, CNN, Jewish, Democratic, White, Biden, Democrat, Michigan Jewish Democrats, Trump, Homeland, National Security, Justice, NSC, Pennsylvania, American, Israel, Nova Music, Wing, House, Jewish voters Trump, State Department, Jewish Democratic Council of America, Associated Press, Republican, United Arab Emirates, Capitol, GOP, Democratic Party, Biden ’, Republican Jewish Coalition, Naval Observatory Locations: Israel, Pennsylvania , Michigan, Georgia, Wisconsin, Arizona, Michigan, West Michigan, Palestine, president’s State, Jerusalem, Gaza, Lower, Manhattan, Brooklyn, America, Charlottesville , Virginia, Germany, Washington, Bahrain, New York, Detroit, American, Charlottesville, ”, Florida

CNN —Israeli Prime Minister Benjamin Netanyahu has defended his decision to go public about delays in the supply of weapons from the United States, saying months of private discussions did not yield any results. At the beginning of a cabinet meeting Sunday, Netanyahu said that “after months of no change in this situation, I decided to give it a public expression. The US remains Israel’s most important ally and biggest supplier of arms but has voiced increasing concern over the mounting civilian casualties in Gaza. Our ties are crucial and perhaps more important than ever, at this time,” Gallant told reporters, according to a statement from the Israeli defense ministry. The Israeli defense minister has clashed with Netanyahu, who is facing an ongoing battle to keep his government together.

Persons: Benjamin Netanyahu, Netanyahu, ” Netanyahu, Biden, Antony Blinken “, Amos Hochstein, ” “, Yoav Gallant, Lloyd Austin, ” Gallant, Gallant, ”, “ Organizations: CNN, Israeli, US, U.S Locations: United States, Israel, Gaza, Washington

☆ Silvano Marchetto, Owner of Glitzy Greenwich Village Trattoria, Dies at 77
▼ + stars: | 2024-06-22 | by ( Alex Vadukul | ) www.nytimes.com time to read: +1 min

Silvano Marchetto, an Italian-born restaurateur whose Greenwich Village trattoria, Da Silvano, became a star-studded canteen and a Page Six fixture over four decades, died on June 4 in Florence, Italy. Akin to a downtown Elaine’s, Da Silvano, which opened in 1975, was one of New York’s reigning haunts for the art, fashion, media and film crowds. And Mr. Marchetto, a hard-living Tuscan who parked his Ferrari ornamentally outside his establishment, was its rustic host and mascot. He wore Hawaiian shirts and yellow pants, and his wrists were covered in silver bracelets and jewelry. Before social media democratized the public’s access to the lives of celebrities, tabloids like The New York Post and The Daily News relied on Da Silvano as a source of juicy gossip.

Persons: Silvano Marchetto, Da Silvano, Leyla Marchetto, Akin, Da, Marchetto, Rihanna, Barry Diller, Patti Smith, wheedled Organizations: Ferrari, New York Post, The Daily Locations: Italian, Greenwich, Florence, Italy, Elaine’s

☆ A family of taekwondo athletes heard a woman’s screams and jumped into action
▼ + stars: | 2024-06-22 | by ( Paradise Afshar | Zoe Sottile | ) edition.cnn.com time to read: +2 min

CNN —When Simon An and his family heard screaming from a store next door to their family taekwondo studio on Wednesday outside Houston, Texas, they knew they had to find out what was happening. An told CNN Friday the family was returning from their lunch break and were parking at the Yong-In studio in Katy when his father heard a “loud scream” as he exited his car. Then the whole family heard “a second scream, and it was loud. Very loud.” “I would describe it as a horror scream.”His father led the family into a nearby Cricket Wireless store. “I’m very proud of my family.”The Harris County Sheriff lauded the An family as “good samaritans” and thanked them for their “quick action in protecting others.”

Persons: Simon An, –, Harris County Sheriff Ed Gonzalez, “, ”, Alex Robinson, Robinson, KHOU, Hannah, Han Organizations: CNN, Harris County Sheriff, Cricket Wireless, KHOU, Sheriff Locations: Houston , Texas, Harris County, Katy, Harris

☆ Fundstrat's Tom Lee keeps making bold stock calls — and nailing them
▼ + stars: | 2024-06-22 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

For example, a call that the S & P 500 would rise 100 points on a positive consumer price index print came true last year. That's true so far, with the S & P 500 jumping 4.8% in May after finishing April down 4.2%. As equities struggled, (the S & P 500 fell almost 20% in 2022), Lee felt like the risk of inflation was being mispriced. Because of that, he foresaw a rebound in 2023, a year that sent the S & P 500 more than 24% higher. "There was a pretty widely-held view that the Fed had to crash the economy in order to contain inflation," Lee said.

Persons: Fundstrat's Tom Lee, Lee, it's, that's, Lee doesn't, Russell, hiccups, Salomon Smith Barney Organizations: Fundstrat, CNBC Pro, Wharton School, selloff, Apple, Netflix, Nasdaq, JPMorgan

☆ How the vodka soda became 'gay water'
▼ + stars: | 2024-06-22 | by ( Alex Harring | ) www.cnbc.com time to read: +11 min

The combination of soda water and vodka has long been a fixture of boozy LGBTQ+ life, particularly among gay men. One of those came from Houston-based lawyer Jeff Watters, who called the vodka soda the "gay water" of the nighttime in a post on X. Retail is also central to the business for Gay Water, a startup offering canned cocktail variations of vodka soda. The former's vodka soda citrus is 100 calories per can, while Gay Water contains 80. The Gay Bar Shop, a specialty retailer, sells an 11-ounce, $49 candle that smells like a vodka soda with a lime garnish.

Persons: Emily Rabbideau, Justin Ruka, Orlando, Ruka, seltzer, Lucas Hilderbrand, Justin, Jeff Watters, Coke, Watters, Hilderbrand, Mary Holt, Holt, Eric Einstein, Einstein, Brendan Oudekerk, bartenders, Rose Kennedy, Tom Campbell, Campbell, James Delos Reyes, that's, Spencer Hoddeson, Hoddeson, Bud Light, Kylie Jenner's, Boston Beer, Victor Tran, Tran Organizations: Love, Alaska Airlines, CNBC, University of California, San Francisco, Gay, New York City, Washington , D.C, New, Boston Beer, Boston, Gay Water Locations: San Francisco, Irvine, Houston, bartenders, Lawrence , Kansas, New York, Washington ,, West Hollywood, influencers, New York City, Gopuff, Virginia

☆ Arda Güler: How 19-year-old dubbed ‘the Turkish Messi’ lit up the European Championship
▼ + stars: | 2024-06-22 | by ( George Ramsay | ) edition.cnn.com time to read: +4 min

With the thunderbolt goal, Güler became the first teenager to score at a European Championship since Cristiano Ronaldo in 2004, guiding Turkey to its first ever opening-game victory at the tournament across the nation’s six appearances. “I don’t care about personal achievements,” Güler said after his performance against Georgia. Güler scores his long-range goal against Georgia. Alex Livesey/Getty ImagesIt was, though, a relatively quiet night for the 39-year-old, who was unable to add to his record haul of 14 European Championship goals. “Of course, I know his quality,” Portugal forward Diogo Jota told reporters on Friday when asked about Güler’s performance against Georgia.

Persons: Arda Güler, Messi ”, Güler, Cristiano Ronaldo, Ronaldo, ” Güler, “, I’m, Carlo Ancelotti, Jude Bellingham, Lamine Yamal, Jamal Musiala, Florian Wirtz, Saturday’s, Ronaldo –, Alex Livesey, Diogo Jota, ” Organizations: CNN, Georgia, Georgian, Real Madrid, ”, Agency, Getty, La Liga, Champions League, Reuters, Czech Locations: Turkey’s, Turkey, Fenerbahçe, Real, England, Dortmund, Portugal, Czech Republic, Germany

☆ Stocks making the biggest moves midday: Sarepta Therapeutics, Hertz Global, Asana and more
▼ + stars: | 2024-06-21 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Hertz Global — Shares rose more than 10% after the car rental giant upsized a bond offering to $1 billion . Asana — The stock popped 10.5% after the software firm announced a share buyback plan that would cost $150 million. Nvidia — The chipmaker dropped another 1% following a 3.5% decline in the previous session. Gilead Sciences — Shares of the pharmaceutical company popped around 2%, adding to an 8.5% rally from the previous session. Palo Alto Networks — Shares rose 2.4% after D.A.

Persons: Gilead, LendingTree, Davidson, D.A, Boyd Gaming, Boyd, —, Alex Harring, Yun Li, Lisa Kailai Han, Hakyung Kim, Michelle Fox Organizations: Therapeutics, U.S . Food, Drug Administration, FDA, Hertz, Nvidia, Gilead Sciences, Bloomberg, Palo Alto, D.A, Penn Entertainment, Boyd, Reuters, Boeing Locations: U.S, Gilead, Palo, cybersecurity, Thursday's

☆ Trump’s conviction spurred massive fundraising surge, new reports show
▼ + stars: | 2024-06-21 | by ( Alex | Leeds Matthews | ) edition.cnn.com time to read: +1 min

CNN —Donald Trump’s conviction in his criminal hush money trial last month led to the two largest single days of fundraising for his White House campaign this cycle, newly released campaign finance reports show. On May 30 and May 31 — the day of the conviction and the day after — at least $27 million in itemized contributions flowed into the former president’s main campaign committee, according to a CNN analysis of donors giving at least $200 over the cycle. Prior to the conviction, the two largest fundraising days were following Trump’s indictment in the hush money case in Manhattan in early April 2023 — his first indictment — and his booking into the Fulton County jail in late August for charges in the Georgia 2020 election subversion case. But each of those days brought in daily itemized contributions closer to $1.3 million, less than a tenth of the nearly $15 million that flowed into the campaign on May 30 of this year, the records show.

Persons: Donald Trump’s, — Organizations: CNN, White Locations: Manhattan, Fulton, Georgia

Meanwhile, Jefferies increased its price target on Ingersoll Rand. Nagel also lifted his price target by $10 to $120, which now suggests shares have upside of 25.6%. Analyst Jason Bednar kept his overweight rating on the dental health stock while slashing his price target by $45 to $330. — Alex Harring 5:56 a.m.: Jefferies raises Ingersoll Rand price target The outlook for Ingersoll Rand is looking brighter after a recent acquisition, according to Jefferies. Analyst Stephen Volkmann reiterated his buy rating on the industrial stock and raised his price target to $110 from $105.

Persons: D.A, Davidson, Jefferies, Ingersoll Rand, Oppenheimer, bullish, Brian Nagel, Nagel, — Alex Harring, Piper Sandler, Jason Bednar, Bednar, Howard Ma, Ma, Evercore ISI's Amit Daryanani, Stephen Volkmann, Fred Imbert, Rudy Kessinger, Kessinger, Palo, PANW, Alex Harring Organizations: CNBC, Palo Alto Networks, Nike, Technology, 2Q, Guggenheim, workloads, Jefferies, ILC, Palo, Network Security, Cloud Security, Security Locations: ILC Dover, Palo Alto, Palo

What's next: Media Matters filed a motion to dismiss Musk's lawsuit in March, but a judge has yet to rule. VCG/GettyGovernment lawsuits and investigationsSEC investigation into Musk's Twitter takeoverThe issues: The Securities and Exchange Commission is investigating Elon Musk's Twitter purchase. Matt Winkelmeyer/Getty ImagesPersonal lawsuits against MuskTornetta v. MuskThe issues: Tesla shareholder Richard Tornetta sued Musk and Tesla in a class action lawsuit regarding Musk's compensation package, which was worth $55.8 billion at the time. Several lawsuits also allege Musk discriminated against them because of their race, gender, or disability in choosing to fire them. The executives were set to receive golden parachutes, but claim Musk and X have not paid them out.

Persons: —, Elon Musk, Musk, Claire Boucher, Grimes, Alex Spiro, Sam Altman, Donald Trump, Spiro, Anna Webber, Angelo Carusone, What's, Gina Carano, Schaerr Jaffe, Tesla, Musk's, Elon, SEC hasn't, Elon Musk's, who've, Owen Diaz, Matt Winkelmeyer, Richard Tornetta, Kimbal Musk, He's, Boucher, Benjamin Brody, Brody, Brody reverberated, Ben Brody, didn't, Robert Kaiden, Kaiden, he's, Agrawal, Parag Agrawal, Ned Segal, Twitter Vijaya Gadde, Sean Edgett, Segal, hadn't Organizations: Service, SpaceX, Business, OpenAI, SEC, Trump, Trump —, Elon, Variety, Media, X Corp, Disney, National Labor Relations Board, UAW, Tesla, Getty Government, Twitter, Securities, Exchange Commission, Justice Department, Reuters, Traffic, Administration, NHTSA, Apple, NLRB, Musk's SpaceX, US, Employment Opportunity, Musk, Nazi, Litigation Locations: Texas, Texas and Missouri, America, Nazi Germany, California, Delaware, San Francisco

☆ Inside the busy schedule of an F1 team principal who oversees 1,000 employees
▼ + stars: | 2024-06-21 | by ( Gregory Leporati | ) www.businessinsider.com time to read: +7 min

Guenther Steiner likened being the team principal of Haas F1 to "being the CEO of a small company." "The good news is no two days are the same," said James Vowles, Williams Racing's team principal. Guenther Steiner, a former team principal of the Haas F1 team who's now an ambassador for the Miami Grand Prix, said the job was sort of like running a corporation. Brown said the top traits he looked for in a team principal were selflessness, a focus on performance, and a willingness to lead by example. "Andrea is a team principal that focuses on his team, putting his people first."

Persons: James Vowles, Guenther Steiner, —, Williams, Rudy Carezzevoli, Vowles, Alex Albon, Albon, Haas, Kevin Magnussen, PETER, Steiner, I'm, Zak Brown, Andrea Stella, Lando Norris, Brown, Stella, wasn't, Andrea, he's Organizations: Williams Racing, Haas, Service, Netflix, Brawn, Mercedes, Constructors, Miami Grand Prix, Getty, McLaren Locations: Bahrain, Williams

☆ Comeback candidates for 2024's second half include Starbucks and Nike — Here are the rest
▼ + stars: | 2024-06-21 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

However, shares of heavyweight companies including Nike and Starbucks have not fared as well this year. The sneaker manufacturer has slipped about 12% in 2024, while Starbucks has pulled back more than 16%. Starbucks The coffee chain posted sluggish fiscal second-quarter results in late April, noting a stark decline in same-store sales. SBUX YTD mountain Starbucks stock. NKE YTD mountain Nike stock.

Persons: Goldman Sachs, Christine Cho, Morgan Stanley, Alex Straton, skews, Straton, Raymond James, RJ Milligan, amortization, Milligan Organizations: Nvidia, Nike, Starbucks, CNBC Pro, CNBC, Stock, Caesars Entertainment, Caesars Locations: SBUX, FY3Q24E, China

☆ The Everything Guide to Partying (Without Regrets)
▼ + stars: | 2024-06-21 | by ( George Gurley | Carson Griffith | ) www.nytimes.com time to read: +22 min

And don’t ask who else is coming. Romilly Newman, chef, food stylist, social media personality Don’t bring a guest to a seated dinner. Raul Tovar/Houses & Parties Rebecca Gardner Please don’t ask people to take off their shoes when entering your apartment. Bronson van Wyck Gosh, I don’t think you can avoid certain topics in 2024. But don’t think you’re décor.

Persons: Ivy Getty, Rufus Wainwright, We've, Lang Phipps, Kate Upton, Illa Gaunt, Rebecca Gardner, William Laird, Sarah Harrelson, Jen Rubio, Jason Sean Weiss Sarah Harrelson, Alex Hitz, Ariel Arce, Larry Milstein, Eat, Maneesh, “ I’m, Wes Gordon, Lizzi Bickford, Smile, Tefi Pessoa, Daisy Prince, There’s, “, Kristy Hurt, headhunter, Kendall Werts, Don’t, Jorn Weisbrodt Rufus Wainwright, Harry Hurt III, Liz Lange, Athena Calderone, Jennifer Gilbert, Kyle Hotchkiss Carone, it’s, you’ve, you’re, ”, Krista Schlueter, The New York Times Molly Jong, Gary Jackson Bronson van, —, Laila Gohar, Susan Gutfreund, it’ll, Josh Flagg, somebody’s, Bronson van Wyck, Max Tucci, Sara Ruffin Costello, David Sedaris’s, Steven Badius, Kyle Hotchkiss, Kendall Werts “, It’s, Truman Capote, Jennifer Gilbert Don’t, Romilly Newman, Raul Tovar, don’t, Emily Post, ” They’re, Jobe, Lela Rose, ” Lizzi Bickford, Paloma Sandoval, Elsie Richter, Whitney, I’m, Zibby Owens, Molly Jong, That’s, Yana Paskova, The New York Times Harry Hurt, Elise Taylor, Francis Hauert, Doris Hauert, Jana Platina, Plum Sykes, Putin, Julie Reiner, Karsten Moran, Jennifer Gilbert I, Ken Fulk, Nobody, Giselle, Emma Gwyther, The New York Times Kendall Werts, Sedi, Nikki Haskell, Andy Warhol, Richard Weisman, Patricia Altschul, Amy Sacco, Hunter McRae, The New York Times Patricia Altschul, Dorothy Parker, Joey Wolffer Joey Wölffer, they’re, now’s, Rufus Wainwright I’m Organizations: Yorker, The New York Times, Trump, Biden, The New York, Google Locations: Converse, Uggs, Gardens, East Hampton, N.Y, New York, Gary Jackson Bronson van Wyck, we’ll, Delmonico’s, Europe, stow, someone’s, New Hampshire, Ukraine, Israel

☆ Red flags that suggest a job posting doesn’t offer a 'competitive salary' as it claims, recruiters say
▼ + stars: | 2024-06-20 | by ( Alex Koller | ) www.cnbc.com time to read: +3 min

Job postings that claim to offer a "competitive salary" are on the rise, putting more onus on job seekers to suss out how much money they can expect from a new role. If you're at the start of a hiring process without pay clarity, there may be early indications that the promise of a "competitive salary" is an empty one. Here are some red flags to watch out for in your conversations with recruiters and hiring managers. But if the company continues to evade the pay conversation after multiple interviews, that's a clear red flag, according to Hyman. Why don't you take some time to digest it and circle back once you have established [the compensation] level?'"

Persons: Bonnie Dilber, Dilber, Jeff Hyman, that's, Hyman, they've

☆ Be careful what you wish for: The S&P 500 typically falls after the first rate cut
▼ + stars: | 2024-06-20 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

On average, the S & P 500 is usually up 2% 65 days before the first cut from the central bank following a hiking cycle, according to data from Strategas. But it's usually down by 1.5% 65 days after that initial rate reduction, implying that stocks may not be off to the races after the big announcement. In 1974, for example, the S & P 500 was down more than 8% in the 65 days prior and off by more than 25% in the same period following the cut. But in 1989, the broad index was up more than 12% in the 65 days preceding the rate reduction and still higher by more than 9% in the period after. Fed funds futures indicate a chance of at least one rate cut as early as September, with the potential for a second at the last meeting of the year in December, according to CMEGroup's FedWatch tool .

Persons: Ryan Grabinski, Chris Zaccarelli, Grabinski Organizations: Federal Reserve, Fed, Independent

☆ Stocks making the biggest moves midday: Gilead Sciences, Accenture, Trump Media, AMD and more
▼ + stars: | 2024-06-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

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

☆ This is not the dot-com bubble and Nvidia's valuation is still 'compelling,' says Bank of America
▼ + stars: | 2024-06-20 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Bank of America warned against seeing Nvidia as a potential long-term pullback victim while cautioning that today's artificial intelligence boom is altogether different from the 1990s dot-com bubble. Nvidia briefly rallied 3.8% on Thursday, helping send the S & P 500 above 5,500 for the first time, only to later retreat as much as 3.8%. Additionally, Arya pointed to demand among cloud customers for Nvidia's new Blackwell AI accelerator systems. The analyst said on-premise enterprise and sovereign AI demand as well as software monetization is still in the "early stages." When all is said and done, Arya said that Nvidia's valuation is still "compelling."

Persons: Vivek Arya, Arya, Jensen Organizations: of America, Nvidia, Blackwell

☆ Frederick Seidel’s New Book Includes an Ode to Nick Cave
▼ + stars: | 2024-06-20 | by ( ) www.nytimes.com time to read: +2 min

What’s the most interesting thing you learned from a book recently? Not recently, but when I began writing poetry the two poets who taught and influenced me the most were Ezra Pound and Robert Lowell. Right now: Yukio Mishima’s book “Patriotism,” a silly piece of work; “The Collected Poems of Delmore Schwartz”; the essays of Frank Kermode. Have you ever gotten in trouble for reading a book? I remember very much enjoying Maurice Girodias’s banned books in Paris that included Henry Miller and other distinguished authors.

Persons: Ezra Pound, Robert Lowell, Pound, Lowell, Yukio Mishima’s, Delmore Schwartz, Frank Kermode, Jean Rhys, Joseph Roth’s, Lois Lenski, Alex Ross, Louis Menand’s “, “, Mark Vanhoenacker —, I’ve, Maurice Girodias’s, Henry Miller, Girodias Organizations: Ducati Locations: Bologna, Paris

☆ Netflix is moving into malls
▼ + stars: | 2024-06-20 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

Netflix has announced the locations for its first two "Netflix House" venues. The streaming service will use spaces in two malls formerly occupied by department stores. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNetflix is joining the ranks of pickleball courts as it tries to make use of all that empty space in America's malls. The streaming service said Tuesday that it's planning its first two "Netflix House" locations in shopping malls — one at the Galleria Dallas and another in the King of Prussia Mall outside Philadelphia.

Persons: —, King Organizations: Netflix, Service, Galleria Dallas, Business Locations: America's, Prussia Mall, Philadelphia

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