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Activist investor Nelson Peltz has sold his entire stake in Disney , a person familiar with the matter tells CNBC. Peltz sold all of his Disney stock at roughly $120 dollars a share, the person said, making about $1 billion on the position. The exit comes weeks after Peltz's Trian Partners lost a proxy battle at Disney in early April as shareholders reelected the company's full slate of board nominees. Peltz had long taken issue with Disney governance. "We are proud of the impact we have had in refocusing this Company on value creation and good governance," Trian said in a statement following the April shareholder vote.

Persons: Nelson Peltz, Peltz, Peltz's Trian, Jay Rasulo, Bob Iger, Trian, Disney didn't Organizations: Disney, CNBC, Peltz's Trian Partners Locations: refocusing

☆ Under Armour was a real threat to Nike. Now it’s fighting to stay relevant
▼ + stars: | 2024-05-18 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +10 min

It was the upstart athletic brand that was making real inroads against Nike, the dominant name in the industry. People saw it as a company that actually could break through and take market share from Nike among the hardcore athletes,” Swartz said. String of controversiesThe period from 2016 onward is when “things really started to fall apart” at Under Armour, Swartz said. A bulk of Under Armour products are sold through sporting goods retailers and department stores, including Macy’s and Kohl’s, and online. The basketball superstar Curry, arguably the best shooter in history, famously signed with Under Armour instead of Nike in 2013.

Persons: Armour, Stephen Curry, Jordan Spieth, Kevin Plank, Howard Schultz’s, Bob Iger’s, Plank, ”, David Swartz, Morningstar, ” Swartz, Justin Sullivan, Tommy Gilligan, ” Plank, Swartz, “, —, Stephanie Linnartz, ” Schwartz, Andrew Kelly, Merrell, Zak Stambor, Stambor, Plank’s, Noel Celis, Eric Smallwood, Dwayne Johnson, Johnson, ” Smallwood, Smallwood, Curry, Joel Embiid, Embiid, Skechers, Caitlin Clark Organizations: New, New York CNN, Nike, Starbucks, Disney, CNN, Sports, North, Maryland Terrapins, Southern Methodist Mustangs, Capital, Maryland, Reuters, —, Armour, Sports Authority, Sporting Goods, UCLA, US Securities and Exchange Commission, Footwear News, Adidas, NBA Golden State Warriors, UA Curry II, Getty, Apex Marketing, United Football League, NBA, WNBA Locations: New York, San Rafael , California, North America, College Park , Maryland, Manhattan , New York, Petaluma , California, Manila, AFP

☆ Burberry’s profit slumps by a third as sales in China plunge
▼ + stars: | 2024-05-15 | by ( ) edition.cnn.com time to read: +2 min

London — British luxury brand Burberry has reported a 34% drop in annual profit after sales fell sharply in China — its biggest market — in the final three months of last year. The company had previously warned that achieving its goal of taking the 168-year-old brand further upmarket, to become the definition of “Modern British Luxury,” had been harder than expected after demand for luxury had slowed. Sales fell 12% in the final quarter, dragged down by a 19% slump in China, and wiping out gains made earlier in the year, Burberry said Wednesday. Sales in London, its home market, declined 17%, which Chief Executive Jonathan Akeroyd blamed on a lack of tax-free shopping for tourists. The world’s largest luxury group, Louis Vuitton owner LVMH, also reported weak sales in its latest quarter as spending on luxury items slowed.

Persons: ”, Burberry, Jonathan Akeroyd, ” Akeroyd, Akeroyd, Hermes, Prada, Kerring, Louis Vuitton, LVMH, Daniel Lee Organizations: London, Burberry, London Fashion Locations: China, London, Paris, Europe, British, Burberry’s, Americas

☆ China’s Alibaba stock drops almost 6% after earnings report shows profit tumbled 86%
▼ + stars: | 2024-05-14 | by ( ) edition.cnn.com time to read: +3 min

China’s largest e-commerce group by market share has had a tumultuous year since announcing the biggest shake-up in its 25-year history in March 2023, splitting into six units and refocusing on its core businesses, including domestic e-commerce. Group net income, however was 3.27 billion yuan ($452 million), compared with 23.52 billion yuan a year ago. The group reported revenue of 221.87 billion yuan in the three months ended March 31, compared with a consensus estimate of 219.66 billion yuan, according to LSEG data. The segment delivered with 45% growth, compared with an expected 39% revenue rise, according to LSEG data. It also saw losses nearly double to 4.1 billion yuan ($567 million) from 2.2 billion a year ago as it invested heavily to remain price competitive and shorten delivery times.

Persons: Joe Tsai, ”, “, Jacob Cooke Organizations: Reuters, Consumers, Tmall, Technologies Locations: Hong Kong, New York, China

astead herndonLast year, the comedian was Roy Wood Jr., a veteran of “The Daily Show” on Comedy Central —archived recording (roy wood jr.) Happy to be here. I don’t think you can ignore anything that the American people are bringing to you. So I think that’s where it ain’t funny to a lot of people. And I think that’s what we’re — those are the only two things we’re armed with is either laughs or yelling. But now do you want the funny guy that’s going to be in control of your uterus?

Persons: astead herndon, Jon Stewart, Wanda Sykes, roy, Dark Brandon, Roy Wood Jr, astead herndon —, I’ll, I’m, Clarence Thomas, There’s, Trump, it’s, Donald Trump, —, Biden, ” I’m Astead, ”, Showtime ”, that’ll, astead herndon Really, It’ll, astead, Jim Messina, Joe Biden, Rupert Murdoch, That’s, Harry Styles, Don Lemon, Harris, Ron Klain, exoticize Joe Biden, Scranton Joe, we’re, you’re, Obama, herndon, we’ve, Bob Dole, that’s, George Floyd, They’re, what’s, Roy, Buddy, who’s, Trayvon Martin —, let’s, Ludacris, Kim Kardashian, Ray J, Kardashian, astead herndon Roy, he’s, Joe Biden’s, It’s, I’ve, He’s, George Lopez, they’re, astead herndon I’m, there’s, John Oliver — astead herndon, “, Sarah Palin, Tina Fey’s, Nikki Haley, ain’t, Haley, Nikki Haley can’t, donald, Ron “ DeSanctimonious, astead herndon It’s, who’ve, Obama Obama, Lock, Hillary’s, Marco, You’re, Little Marco, Karine Jean, Pierre, astead herndon That’s, Donald Trump’s, Stormy Daniels, Jonah Bromwich, haven’t, jonah bromwich You’ve, We’ve, Michael Cohen, David Pecker, don’t, Trump — jonah bromwich, He’ll, biden, astead herndon Joe Biden, Let’s, She’s Organizations: White, Super, Comedy, “, Disney, The New York Times, Showtime, astead herndon, Trump, Biden, Paramount, BET, Scranton, Republicans, Florida, M University, Black College, Republican, Democratic Party, Democratic, Democrat, RFK, Party, Tea Party, SNL, Democrats, Tower, National, ”, AMI, Trump — Locations: Washington , DC, France, America, ” I’m Astead Herndon, herndon, Scranton, Tallahassee, Birmingham , Alabama, Birmingham, astead herndon, South Carolina, CPAC, Palestine, Israel, Manhattan, Florida, Tampa, Pennsylvania

☆ Lyft CEO David Risher on refocusing the company: Customer obsession leads to profitable growth
▼ + stars: | 2024-04-10 | 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 EmailLyft CEO David Risher on refocusing the company: Customer obsession leads to profitable growthDavid Risher, CEO of Lyft, joins CNBC's 'The Exchange' to share his growth targets for the company, reactions from customers, and more.

Persons: David Risher

☆ Reed Hastings says he kept losing money as an investor so he sticks to owning Netflix stock and index funds
▼ + stars: | 2024-04-05 | by ( Theron Mohamed | ) 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. In late January, he gifted 2 million Netflix shares worth $1.1 billion to the Silicon Valley Community Foundation. The donation slashed his direct stake in Netflix by about 40% to just under 3 million shares — a position valued at about $1.9 billion. The tech veteran's net worth is still around $6 billion, as he holds 3 million Netflix stock options and has sold about $2 billion worth over the years, per the Bloomberg Billionaires Index. Hastings has also donated vast amounts of money to education providers like charter schools and historically Black colleges and universities (HBCUs).

Persons: —, Reed Hastings, Tim Ferriss, I've, Hastings, Warren Buffett, Ferriss, Buffett, priding, Charlie Munger, Hastings —, he's Organizations: Service, Netflix, Business, Berkshire Hathaway, Hastings, Community Foundation, Bloomberg

☆ How Bob Iger vanquished a corporate raider in Disney’s most consequential boardroom battle in decades
▼ + stars: | 2024-04-04 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

But over the last several months, the Disney chief made significant moves that took the wind out of those sails. Regardless, the course of action taken by Iger had the same effect, pouring cold water on Peltz’s public grievances. On streaming strategy: Iger moved to take full control of Hulu in a major deal with Comcast. Last week, Disney merged the service into Disney+, putting both libraries into a single app in a move once considered unthinkable. Disney investors overwhelmingly moved to elect Disney’s slate of directors, rejecting Peltz and former company exec Jay Rasulo.

Persons: Bob Iger, Nelson Peltz, shoring, Peltz, “, Iger, ” Iger, Ron DeSantis, ”, Bob Chapek, Morgan Stanley, James Gorman, Jay Rasulo, ” Trian, It’s Organizations: New York CNN, Disney, ESPN, Florida Gov, Hulu, Comcast, CNBC, Google, Partners, Company, Dow Jones Industrial Locations: New York, Magic, —, refocusing

☆ Disney trounces activist shareholders in a major win for Bob Iger
▼ + stars: | 2024-04-03 | by ( Allison Morrow | Hadas Gold | ) edition.cnn.com time to read: +5 min

New York CNN —Disney won a hard-fought proxy battle against a group of activist investors who sought to secure seats on the company’s board of directors. Disney’s board triumphed by what the company called “a substantial margin” over the nominees put forward by Trian Fund Management and Blackwells Capital at its annual shareholder meeting. Iger didn’t just beat Trian’s Nelson Peltz, but trounced him, according to a person familiar with the vote count. Jay Rasulo, the former Disney finance chief who joined Peltz’s attempt, also lost by a wide margin, the person said. Retail shareholders, which hold roughly 35% of Disney stock, also voted overwhelmingly – 75% – for Disney’s candidates.

Persons: New York CNN — Disney, Bob Iger, Disney’s, —, Trian, didn’t, Trian’s Nelson Peltz, Jay Rasulo, Peltz’s, Peltz, ”, ” Iger, ” Peltz, Iger, CNN’s Oliver Darcy, Samantha Delouya, Oliver Darcy Organizations: New, New York CNN, Trian Fund Management, Blackwells, Disney, Retail, Financial Times, Republicans, Marvel, CNBC, Trian Partners Locations: New York, refocusing, Trian

☆ Biden warns Xi Jinping about China's ongoing support for Russia amid Ukraine war
▼ + stars: | 2024-04-02 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

US President Joe Biden and China's leader Xi Jinping spoke in a Tuesday phone call. The leaders discussed global conflicts, including China's support for Russia amid the Ukraine war. Russia has managed to maintain its economy thanks in part to its trade partnership with China. AdvertisementUS President Joe Biden warned China's leader Xi Jinping about his government's ongoing support for Russia amid the war in Ukraine during a Tuesday phone call between the two world leaders. AdvertisementDespite alienating itself from the majority of the world, Russia continues to maintain an economic ally in China, whose ongoing support has helped Russia rebuild its defense industry during a vital moment in the war.

Persons: Joe Biden, Xi Jinping, —, China's, Biden, Xi, Vladimir Putin, Putin Organizations: Service, Central Bank of, Beijing Locations: Russia, Ukraine, China, California, India, Beijing, Central Bank of Russia, Taiwan, South China, Israel, Gaza, Bali

The intensifying military cooperation between Russia and Niger is central to the dispute between the US and the Nigerien junta, officials said. Russia and Niger agreed to strengthen their military ties in January, Russia’s Defense Ministry said at the time. If the US were forced to withdraw, counterterrorism efforts across the region could take a hit, officials said. In return, Russia is profiting off the region’s natural resources, another official said, including the gold mines in Niger. Several European countries shared this goal, offering a measure of support to the junta, the official noted.

Persons: Michael Langley, Celeste Wallander, Col, Maj, Amadou Abdramane, Langley, Matthew Miller, ” Miller, what’s, Nusrat al, “ Organizations: CNN, US Africa Command, Air Base, American, Nigerien, Russia’s Defense, EU, Pentagon, Kremlin, West, Russian Federation, National Council, Wagner, US Locations: Africa, Russia, Africa . Niger, Niger, United States, America, Nigerien, Sahel, stoking, China, Russian, Central Africa, ”, Niamey, US, Agadez, Mali, Burkina Faso, Abdramane, Western Africa, Northwest Africa

☆ China might have a friendlier face now, but it's not giving up on its aggressive Wolf Warrior diplomacy, experts say
▼ + stars: | 2024-03-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +9 min

The move has also fueled speculation about the end of Wolf Warrior diplomacy. BRENDAN SMIALOWSKI/AFP via Getty ImagesChina is also aware that the shock value of Wolf Warrior diplomacy brings diminishing returns. "I think the limits of wolf warrior diplomacy are apparent," Loh said. The Wolf Warrior will be backThat said, Wolf Warrior diplomacy will return, depending on the issue at hand, said Loh. LEAH MILLIS/Getty ImagesSo why did Liu tell reporters and academics in New York that Wolf Warrior diplomacy would never return?

Persons: —, Liu Jianchao, Liu, China's, Antony Blinken, ROBERTO SCHMIDT, Ian Ja Chong, Chong, Zhao Lijian, Zhao, Rather, Stanley Rosen, Rosen, you'll, Zhao dismissively, Nancy Pelosi's, Anthony Kwan, Pan Chengxin, Donald Trump's, Pan, Dylan Loh, Xi Jinping, Biden, Xi, BRENDAN SMIALOWSKI, Loh, Qin Gang, LEAH MILLIS Organizations: Service, Communist Party's International Department, of Foreign, Business, US, AFP, Getty, National University of Singapore, Foreign Ministry, University of Southern, China Institute, U.S . House, Deakin University, Nanyang Technological University of Singapore, Getty Images, Chinese Foreign Locations: New York, China, West . China, Beijing, University of Southern California's US, Maryland, Ukraine, Weibo, Taiwan, Hong Kong, Africa, Southeast Asia, Australia, Gaza, AFP, Getty Images China, West

☆ Panera Bread is overhauling its menu
▼ + stars: | 2024-02-29 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Panera Bread is undergoing its “largest menu transformation ever,” shifting away from its attempt at dinner and refocusing on what it’s best known for, like sandwiches and salads. Panera didn’t release a full list of the menu items that are getting the axe, other than confirming that the flatbreads it introduced in 2019 are being eliminated. Panera confirmed that the kitchen sink cookie, kids menu and soufflés are staying. Panera teased that more details about that menu changes will be unveiled in March. Panera is also aiming to lure in budget-conscious customers with some of the new menu items being priced under $10.

Persons: Panera, ” Alicia Mowder, ”, ” Panera Organizations: New, New York CNN, CNN, “ Bravo Locations: New York, Bacon

☆ AI isn't driving tech layoffs — but it does make a good scapegoat
▼ + stars: | 2024-02-21 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Layoffs have been sweeping the tech sector and some are blaming AI. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementFears about AI leading to job cuts are increasingly common, especially as everyday usage of the technology grows. The development was causing anxiety in the ad sales departments, per the report, which later faced a round of job cuts. While AI may not simply replace workers, companies' investment in AI development may be causing cutbacks in other areas.

Persons: —, Duolingo, Hugh Langley, Fortune's Jeremy Kahn Organizations: Service, Bloomberg, Google, Business

☆ Galentine’s Day Is a Holiday I Prefer Not to Celebrate - The New York Times
▼ + stars: | 2024-02-13 | by ( Kristina Samulewski | Vishakha Darbha | ) www.nytimes.com time to read: 1 min

Galentine’s Day, celebrated on Feb. 13, a day before Valentine’s Day, has been popularized as a day for women to celebrate their female friendships. In this audio essay, the Opinion Audio news assistant Kristina Samulewski argues that rather than celebrating women, Galentine’s Day patronizes them, particularly single women. Samulewski makes the case for doing away with the pop culture celebration and instead refocusing Valentine’s Day on the universal experience of love — familial, platonic or romantic. (A full transcript of this audio essay will be available within 24 hours of publication in the audio player above.)

Persons: Kristina Samulewski, Samulewski

☆ Ukraine says it can't fire more than 2,000 shells a day as Western allies fail to meet pledges: report
▼ + stars: | 2024-02-01 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +2 min

Ukraine is limited to firing 2,000 artillery shells a day, roughly one-third of Russia's capacity, the country's defense minister, Rustem Umerov, said in a letter seen by Bloomberg. While Ukraine's Western allies stall, and US military aid is held up in Congress, Russia has ramped up production. AdvertisementMartin Herem, commander of Estonia's defense forces, told Bloomberg last week that he believes Russia is now capable of producing several million shells a year. Shell hunger is not a new problem for Ukraine — throughout the last year, soldiers often reported having to husband their ammunition supplies. Alongside further appeals to its allies, Ukraine has, in recent months, been refocusing on its domestic military production capacities.

Persons: Rustem Umerov, Umerov, Boris Pistorius, Celeste Wallander, Martin Herem Organizations: Bloomberg, EU, Politico, Ukraine —, Times, CNN Locations: Ukraine, Congress, Russia, London

☆ McDonald's investor day is Wednesday. Expect to hear about expansion, tech and China
▼ + stars: | 2023-12-05 | by ( Amelia Lucas | ) www.cnbc.com time to read: +5 min

The company also projected mid-single-digit sales growth in 2021 and 2022. McDonalds is a multinational fast food chain with thousands or restaurants over the world with headquarters in Chicago Illinois. It is the world's largest fast food restaurant chain famous for the burgers and fries. While the U.S. may seem saturated with McDonald's locations, executives have said that its current footprint doesn't reflect where consumers currently live, including the shift to the South and Southeast. Some McDonald's locations have also tested using artificial intelligence to take drive-thru orders.

Persons: Luke Sharrett, McDonald's, aren't, Chris Kempczinski, Nicolas Economou, remodels, Kempczinski Organizations: McDonald's Corp, Bloomberg, Getty, Wall Street, McDonalds, Nurphoto, Technology Locations: Louisville , Kentucky, U.S, New York City, USA, Chicago Illinois, Manhattan , New York, Texas, Canada, Germany, Australia, France, China

☆ Here’s how activist Elliott could build shareholder value amicably at Phillips 66
▼ + stars: | 2023-12-02 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Business: Phillips 66 is an energy manufacturing and logistics company. Percentage Ownership: n/a Average Cost: n/a Activist Commentary: Elliott is a very successful and astute activist investor. On Wednesday, Elliott sent a letter to Phillips 66, announcing that it has taken a $1 billion stake and is seeking up to two board seats. While we do not generalize like that, it is hard to imagine a more amicable and constructive activist campaign than what Elliott is proposing at Phillips 66. When implemented, Phillips 66 saw costs increase relative to peers, burning shareholders' confidence in the management team's ability to achieve its goals.

Persons: Phillips, Elliott, Mark Lashier, Ken Squire Organizations: Phillips, Chevron Phillips Chemical, Valero Energy, Marathon Petroleum, Valero, 13D Locations: Chevron, U.S, Europe, COOs

NEW YORK (AP) — Americans for Prosperity, the political arm of the powerful Koch network, formally endorsed Nikki Haley's presidential campaign on Tuesday, promising to commit its nationwide army of activists — and virtually unlimited funds — to helping Haley defeat former President Donald Trump in the GOP primary contest. In a statement, DeSantis spokesman Andrew Romeo likened the Koch endorsement to a contribution to the Trump campaign. “Every dollar spent on Nikki Haley’s candidacy should be reported as an in-kind to the Trump campaign. While she has seized some momentum in the polls, he campaign lacked the same level of infrastructure on the ground in key primary states as DeSantis and Trump. “I’m honored to have the support of Americans for Prosperity Action, including its millions of grassroots members all across the country,” Nikki Haley said in a statement.

Persons: Koch, Nikki Haley's, —, Haley, Donald Trump, Nikki Haley, Joe Biden, Emily Seidel, Seidel, Ron DeSantis, DeSantis, Andrew Romeo, Trump, ” Romeo, Nikki Haley’s, “ I’m, ” Nikki Haley, ”, Meg Kinnard Organizations: Prosperity, GOP, America, Republican, AFP, Florida Gov, Trump Locations: AFP, Florida, Columbia , South Carolina

A man walks while smoke rises above buildings after aerial bombardment, during clashes between the paramilitary Rapid Support Forces and the army in Khartoum North, Sudan, May 1, 2023. But analysts and diplomats say it is unclear how the RSF could govern a breakaway territory. "(Governing) means you take on responsibilities for food, health, and security," said Suliman Baldo of the Sudan Transparency and Policy Tracker. From late October the RSF took over army headquarters in Nyala, Zalingei and El Geneina, three of five Darfur state capitals. They say the RSF is seeking legitimacy in the talks, after public anger over looting, rape and detentions blamed on its troops.

Persons: Mohamed Nureldin Abdallah, Mohamed Hamdan Dagalo, Yasir Arman, Abdelrahim Dagalo, Omar al, Bashir, El Geneina, Kholood Khair, Bashir loyalists, Jonas Horner, Nafisa Eltahir, Khalid Abdelaziz, Aidan Lewis, Gareth Jones Organizations: Rapid Support Forces, REUTERS, Sudan's Rapid Support Forces, Darfur, South, Reuters, Armoured Corps, Confluence Advisory, United Nations, Thomson Locations: Khartoum North, Sudan, Jeddah, CAIRO, Khartoum, South Sudan, Darfur, North Darfur, Port Sudan, Kordofan, Nyala, El Geneina, Jebel Awlia, Confluence, Saudi, West Darfur, Cairo, Dubai

☆ Chip design startup SiFive lays off 20% of staff
▼ + stars: | 2023-10-24 | by ( Max A. Cherney | ) www.reuters.com time to read: +1 min

Oct 24 (Reuters) - Chip design startup SiFive has laid off around 20% of its staff, or about 130 people, the company said on Tuesday. SiFive, based in Santa Clara, California, builds chip designs based on an open chip architecture known as RISC-V, and competes against the recently public Arm Holdings (O9Ty.F), . Like Arm, SiFive builds the underlying designs chips are based on, but not the chips themselves. The company is scaling back its effort to offer customized designs for customers, beyond the standard blueprints that are available. Technology giants such as Qualcomm (QCOM.O) and Alphabet's Google (GOOGL.O) have embraced the underlying RISC-V technology.

Persons: SiFive, David Miller, Miller, Max A, Stephen Coates, Chris Reese Organizations: Arm Holdings, Technology, Qualcomm, Google, U.S ., Thomson Locations: Santa Clara , California, U.S, China, San Francisco

☆ What the Israel-Hamas war means for defense stocks
▼ + stars: | 2023-10-18 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —When war breaks out, defense companies tend to make money. That means aerospace and defense stocks tend to rise during geopolitical unrest. Defense stocks typically rise after military conflicts but soon lose those gains. Following Russia’s invasion of Ukraine, the iShares defense ETF surged by 5%, with Lockheed Martin and Northrop Grumman’s shares jumping about 20%. Goldman Sachs announced third-quarter results on Tuesday morning, reporting earnings of $5.47 per share, which beat the $5.31 expected by analysts.

Persons: Lockheed Martin, Northrop Grumman, ”, Jim Taiclet, “ That’s, JPMorgan Chase, Jamie Dimon, “, ” Sam Stovall, Joe Biden’s, Northrop Grumman’s, Raffi Boyadjian, Goldman Sachs, David Solomon, “ David, Goldman, Tony Fratto, Solomon, DJ, ” Solomon, it’s, Lloyd Blankfein, they’re, Elon Musk’s, Elon Musk, X, Clare Duffy Organizations: CNN Business, Bell, New York CNN, U.S . Aerospace & Defense ETF, Raytheon, Lockheed, Boeing, General Dynamics, Northrop, “, Lockheed Martin Corporation, titans, Hamas, JPMorgan, Defense, XM, Treasury, CNN, Revenue, Twitter Locations: New York, Israel, U.S, Ukraine, Kippur, Kuwait, South Beach, New Zealand, Philippines

☆ Exclusive: Goldman shrinks executive committee in reshuffle, moves admin officer to banking, markets -memo
▼ + stars: | 2023-09-11 | by ( Saeed Azhar | ) www.reuters.com time to read: +3 min

The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly Acquire Licensing RightsNEW YORK, Sept 11 (Reuters) - Goldman Sachs has named Chief Administrative Officer Ericka Leslie to head operations for global banking and markets, its largest division, according to a memo seen by Reuters. The move reduces the bank's number of executive officers to eight, for now, and leaves just two women in the group. The two women still in the executive officer group are Sheara Fredman, who is chief accounting officer and Chief Legal Officer and General Counsel Kathryn Ruemmler. The group is led by CEO David Solomon and includes John Waldron, president and chief operating officer, and Denis Coleman, chief financial officer.

Persons: Goldman Sachs, Andrew Kelly, Ericka Leslie, Fredman, Kathryn Ruemmler, David Solomon, John Waldron, Denis Coleman, Leslie, Goldman, Will Bousquette, Marc Nachmann, Nachmann, Laurence Stein, Julian Salisbury, Solomon, Saeed Azhar, Lananh Nguyen, Megan Davies, Jason Neely Organizations: New York Stock Exchange, REUTERS, Reuters, Sixth, CNBC, Financial Times, Thomson Locations: New York City , New York, U.S

☆ Treasury yield jump is not 'death to equities,' BofA's Savita Subramanian says
▼ + stars: | 2023-09-05 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

The latest jump in Treasury yields is not "death to equities," BofA Securities' Savita Subramanian told CNBC's "Fast Money" on Tuesday. In fact, Subramanian sees the bond move as a positive signal — rather than an ominous sign for the economy. In May, Subramanian hiked her S&P 500 year-end target by 7.5% to 4,300, with a range as high as 4,600. Even though she believes the corporate America has learned to do more with less, Subramanian suggests stocks won't go up in a straight line. But I do think we are at a point where we have some visibility with what the Fed is going to do," Subramanian said.

Persons: Savita Subramanian, CNBC's, Subramanian Organizations: Securities, Companies Locations: America

☆ Morning Bid: August rescued by Nvidia, bond rally
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Brendan McDermid Acquire Licensing RightsA look at the day ahead in U.S. and global markets from Mike DolanA dire August for world markets is being rehabilitated in its final week, helped by another sparkling AI-related surprise from chip giant Nvidia (NVDA.O) and a rebound in battered bond markets. The bar for surprise from Wednesday's earnings update was sky high, but the company somehow managed to vault it again. Despite the rebound the index is still down more than 4% for August - its worst month since last September. Ironically, the retreat in bond yields comes amid signs of cooling economic activity - but that comes with the significant relief that central banks may not have to squeeze any harder to get inflation back close to targets. Bond yields are in retreat in advance of the speech, helped by the easing economic data and a decent 20-year bond auction on Wednesday.

Persons: Brendan McDermid, Mike Dolan, Jerome Powell's, Jackson, China's spluttering, Bernadette Organizations: New York Stock Exchange, REUTERS, Nvidia, Federal Reserve, Fed, Treasury, Woodside Energy, Chicago Fed, Kansas City Fed, Intuit, Ulta, Reuters, Thomson Locations: New York, U.S, Frankfurt, Asia, Shanghai, Europe, Kansas, Jackson

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