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☆ Warren Buffett holds first Berkshire Hathaway meeting without Charlie Munger
▼ + stars: | 2024-05-04 | by ( Nicole Goodkind | Eva Rothenberg | ) edition.cnn.com time to read: +3 min

Buffett will appear for the first time without his longtime business partner and friend Charlie Munger, who died in November. In 1978, Munger joined Berkshire Hathaway as vice-chairman and sat by Buffett’s side, quick with a quip or a sage piece of advice. Berkshire’s operating profits are expected to increase by 21% to $6,702 per Class A share, according to the FactSet estimates. Berkshire Hathaway reported a significant uptick in fourth-quarter operating earnings, which totaled $8.5 billion, up from $6.6 billion, or a 28% increase from a year ago. For the year, operating earnings rose to $37.3 billion, after setting a record of $30.8 billion in 2022.

Persons: Warren Buffett, Buffett, Charlie Munger, Greg Abel, Ajit Jain, Munger’s, Munger, ”, “, Charlie, Berkshire Hathaway, “ Charlie, Abel, Greg, ” Buffett, “ Greg Organizations: New, New York CNN, Berkshire Hathaway, Oracle, “, Berkshire Locations: New York, Woodstock, Nebraska, Berkshire, Omaha, “ Berkshire, The Omaha , Nebraska

☆ Corn hits 3-month high; soy, wheat climb on global crop weather woes
▼ + stars: | 2024-05-04 | by ( ) www.cnbc.com time to read: +2 min

Wheat futures hit a one-week high on renewed concerns over dry weather in Russia, the world's biggest wheat supplier. In Argentina, corn stunt disease spread by leaf-cutter insects and adverse weather prompted the Buenos Aires grains exchange to slash its estimate for Argentina's 2023/24 corn harvest by 3 millions metric tons to 46.5 tons. In wheat, Russia's IKAR agricultural consultancy cut its forecast for the country's crop to 91 million metric tons from 93 million tons and its wheat exports to 50.5 million metric tons from 52 million tons. Wheat futures jumped as weather forecasts showed the region getting virtually no rain in the coming two weeks. Managed money funds held a net short position in CBOT wheat futures at the beginning of 2024 because of a strong dollar and slow U.S. demand, Zuzolo said.

Persons: Jim Niewold, Susan Stroud, Mike Zuzolo, Nature, Zuzolo Organizations: Chicago Board of Trade, Global, Analytics Locations: Loda , Illinois, Brazil, Russia, Brazil's Rio Grande do Sul, Argentina, Buenos Aires, South America

☆ Societe Generale's investment bank limits first-quarter profit plunge
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +1 min

French bank Societe Generale reported a smaller-than-expected 22% slide in first-quarter net income on Friday, as profits on equity derivative sales offset more weakness at its retail bank and in fixed-income trading. France's third-biggest listed lender, whose CEO Slawomir Krupa is seeking to end several years of lackluster performance and trim costs, said group net income over the first three months of the year was 680 million euros ($729.30 million). Sales slipped 0.4% to 6.65 billion euros, above the 6.46 billion-euro analyst average estimate. SocGen's investment banking division saw its earnings jump 26.4% to 690 million euros, beating forecasts, while revenues weakened 5.1% to 2.62 billion euros for the quarter. Equity derivatives sales, an area where SocGen has historically been strong, did well, the bank said, as did corporate financing services and its advisory business.

Persons: Slawomir Krupa Organizations: Societe Generale, Equity

☆ Gazprom: Russian oil giant posts first annual loss in 20 years as sales to Europe collapse
▼ + stars: | 2024-05-03 | by ( ) edition.cnn.com time to read: +2 min

Moscow — Kremlin-owned gas giant Gazprom plunged to a net loss of 629 billion rubles ($6.9 billion) in 2023, its first annual loss in more than 20 years, as sales to Europe plummeted in the wake of Russia’s war in Ukraine. Analysts had expected net income of 447 billion rubles ($4.9 billion) in 2023, according to Interfax news agency. The company made a net profit of 1.2 trillion ($13.1 billion) rubles in 2022, the year Russia launched its full-scale invasion of Ukraine. Russia’s gas exports to Europe, once its primary export market, have slumped largely because of the political fallout from the conflict in Ukraine. The company’s core profit, or earnings before interest, taxes, depreciation and amortization known as EBITDA, dropped to 618.38 billion rubles ($6.7 billion) last year from 2.79 trillion rubles ($30.4 billion) in 2022, according to Reuters’ calculations.

Persons: Alexei Miller, Vladimir Putin, Ronald Smith Organizations: Gazprom, Analysts, Reuters, BCS Global Markets Locations: Moscow, Ukraine, Russia, St . Petersburg, Europe

☆ Friday's analyst calls: Street reacts to Apple buybacks and Coinbase earnings
▼ + stars: | 2024-05-03 | by ( Alex Harring | ) www.cnbc.com time to read: +12 min

Analyst Scot Ciccarelli upgraded the retailer to buy from hold and raised his price target by $6 to $86. — Alex Harring 6: 22 a.m.: Here's what Wall Street thinks of Coinbase's earnings Coinbase's stronger-than-expected earnings have prompted analyst reactions. Barclays' Benjamin Budish (underweight, $179 price target unchanged, 21.8% downside): "The biggest question going forward is, how sustainable are these trends? — Alex Harring 6:12 a.m.: Wall Street reacts to Apple earnings Apple's buyback announcement has caught the eye of Wall Street analysts. Analyst Benjamin Nolan upgraded the railroad stock to buy from hold and increased his price target by $19 to $267.

Persons: Morgan Stanley, Jefferies, Bernstein, Aneesha Sherman, Sherman, — Alex Harring, Truist, Scot Ciccarelli, Ciccarelli, Ollie's, Estee Lauder, Dara Mohsenian, Mohsenian, Alex Harring, FactSet, Coinbase, what's, —, Goldman Sachs, Will Nance, Benjamin Budish, Oppenheimer's Owen Lau, JPMorgan's Samik Chatterjee, Morgan Stanley's Erik Woodring, Michael Ng, bullish, George Notter, Notter, We've, it's, Stifel, Benjamin Nolan, Nolan, — Alex Harring —, Michael Bloom Organizations: CNBC, Arista and Union Pacific, Apple, Arista, FactSet, Barclays, Bloomberg, ASU, Street, Services, Jefferies, Arista Networks, Nvidia, Microsoft, Meta, Pacific, Union Pacific Locations: F3Q, China, Thursday's

☆ 'Trader justice': Ex-SocGen trader fired for risky bets claims he was made a 'scapegoat'
▼ + stars: | 2024-05-03 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

A former Societe Generale trader who was fired for unauthorized risky bets has lambasted the French bank for making him a "scapegoat" and failing to take its share of responsibility for missing the trades. A SocGen spokesperson declined to comment on the post, but provided a statement on the pair's dismissal. Kataria said the trades were auto-booked and a "daily email was sent to the entire group mentioning the trades have been reconciled." "It's very easy for other people to say that we were not aware of the trades done by me," he wrote. "Trading Industry is so big but there are no rules or regulations which fight for trader justice," he said.

Persons: Kavish Kataria, Kataria, SocGen, Kevin Ng, Jerome Kerviel Organizations: Societe Generale, Hong, Financial Times, LinkedIn Locations: Hong Kong, Paris

☆ Jim Cramer's Friday thoughts on 5 stocks: Cloudflare, DraftKings, Expedia, Booking and Hershey
▼ + stars: | 2024-05-03 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +2 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Cloudflare : Shares of the content delivery network were sinking 16% after the midpoint of the company's second-quarter revenue outlook came in short of analyst estimates. Expedia : Shares of the online travel booking company were sinking 14%. "Booking perfect," Jim said. But cocoa is in free fall and I think that is an opportunity," Jim said.

Persons: Jim Cramer's, Cramer, Jason Robins, DraftKings, Jim, Vrbo, Hershey, Price Organizations: CNBC, Club, Holdings

☆ U.S. job growth totaled 175,000 in April, much less than expected, while unemployment rose to 3.9%
▼ + stars: | 2024-05-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Signage at a job fair at Brunswick Community College in Bolivia, North Carolina, US, on Thursday, April 11, 2024. The U.S. economy added fewer jobs than expected in April while the unemployment rate rose, reversing a trend of robust job growth that had kept the Federal Reserve cautious as it looks for signals on when it can start cutting interest rates. The unemployment rate ticked higher to 3.9% against expectations it would hold steady at 3.8%. Average hourly earnings rose 0.2% from the previous month and 3.9% from a year ago, both below consensus estimates and an encouraging sign for inflation. The jobless rate tied for the highest level since January 2022.

Persons: Dow Jones Organizations: Brunswick Community College, Reserve, Dow Locations: Bolivia , North Carolina, U.S

☆ Skittles is giving away a 1-year stay in an NYC micro-apartment that usually rents for $3,500/month: Take a look inside
▼ + stars: | 2024-05-03 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

Skittles has launched a contest with the grand prize of a rent-free yearlong stay in a Manhattan micro-apartment. It features bright, colorful furniture, rainbow-colored cabinets and wall art made using real Skittles lentils. The marketing stunt is a promotion for Skittles Littles, a new, smaller form factor for the candy similar to that of M&M's Minis. Skittles lists the approximate retail value of the prize at $85,000, with the winner also receiving a $20,000 check to offset their tax liability. To enter the sweepstakes, participants must give their full name, date of birth, email and phone number.

Persons: Skittles, Dani Klaric, Skittles Littles, Malin, Goetz Organizations: M's Locations: New York City, Manhattan, Manhattan's Kips

☆ Caitlin Clark plays in WNBA preseason debut after being drafted No. 1 by Indiana Fever
▼ + stars: | 2024-05-03 | by ( Homero De La Fuente | Ben Morse | ) edition.cnn.com time to read: +7 min

1 overall pick in the 2024 WNBA draft by the Indiana Fever, scored a game-high 21 points in the team’s preseason game Friday against the Dallas Wings. I think it’s a good kickoff to the WNBA season. I think the way we play, you know there’s some things we could’ve executed a little better. Ogunbowale finished with 19 points, including nine points in the fourth quarter, to lift the Wings to the preseason victory. Michael Conroy/APBoston – who averaged 14.5 points and 8.4 rebounds last season – said she hopes to improve on a promising debut WNBA campaign.

Persons: Caitlin Clark, Clark, Clark dazzles, wasn’t, ” Clark, Arike Ogunbowale, Ogunbowale, Jaelyn Brown, could’ve, TickPick, Caleb Williams, Clark merchanise, Michael Conroy, “ It’s, “, you’ve, –, Boston Organizations: CNN, WNBA, Indiana Fever, Dallas Wings, NCAA, Iowa Hawkeyes, College Park Center, NCAA Division I’s, Wings, Dallas, ”, Iowa, Indiana, Chicago Bears, Hawkeye, Fever, Boston, Eastern Conference, Boston –, Atlanta, Connecticut Sun, Mohegan Sun Locations: Arlington , Texas, Boston, Indianapolis, Indiana

Major corporations often don't want to seem like they're taking one side politically, so they either sponsor both conventions, or neither. Conventions could see new sponsorsThe Democratic and Republican conventions this summer are the first fully in-person conventions since the 2016 election. Democratic convention organizers in April said if corporations had any reluctance to back the RNC, it hasn't hampered Chicago's efforts to lure donors. Microsoft in 2012 contributed over $1.5 million in a mix of in-kind and cash contributions to the Republican convention. JPMorgan donated $200,000 to the 2012 Republican convention and didn't write a check for the 2016 event.

Persons: Donald Trump, Jon Cherry, Rashad Robinson, Robinson, —, Fiserv, Greg Goldner, Trump, Donald Trump's, aren't, they'll, Joe Biden, Trent Morse, Morse, they've, Alison Prange, Reince Priebus, Priebus, it's, Steve Kornacki's, Biden, Nancy Pelosi, Michelle Yeoh, Natalie Edelstein, Michael Sacks, Sacks, J.B . Pritzker, Barack Obama, Alex Hornbrook, There's, Taylor Swift, she's, Mitt Romney, Obama, didn't, General Motors Organizations: Christian Media, The Gaylord, Center, Getty, Republican National Convention, Republican, NBC News, Trump, Fiserv Inc, Democratic, Fiserv, RNC, Resolute Consulting, GOP, Corporations, Fortune, Milwaukee Journal Sentinel, Democrats, White House, Milwaukee, NBC, Wall, Republican National Committee, Wall Street, Biden, TV, Kentucky Derby, Street Journal, Northwestern Mutual, Wisconsin Fortune, Democratic National Convention, WEC Energy Group, Manpower Group, Conventions, Metropolitan Milwaukee Association of Commerce, DNC, Convention, Chicago, Longtime Democratic, Illinois Gov, White, Correspondents, Commission, Facebook, Google, Microsoft, Bank of America, FEC, Meta, Skype, CNBC, JPMorgan Chase, Walmart, JPMorgan, General Motors, General, Motors, Comcast, Press, Trade Locations: Nashville , Tennessee, Milwaukee, Wisconsin, America, Chicago, NBCUniversal, Philadelphia

☆ DJT stock: Truth Social keeps shrinking despite the Trump trial and looming election
▼ + stars: | 2024-05-03 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

Yet new data shows its main product — the conservative-friendly social network Truth Social — remains a very tiny player in its industry, and it’s getting even smaller. “If your entire social circle is on a social media platform, that’s a strong pull to sign up. ‘Meme stock’ argumentTrump recently received another 36 million shares of Trump Media as part of a bonus known as earnout shares. Including those new shares, Trump owns 114.75 million shares of Trump Media — a stake valued at $5.6 billion. Of course, Kennedy notes that there is a counter argument that Trump Media is not a typical social media stock, and so traditional metrics like growth and revenue don’t really matter.

Persons: Donald Trump, it’s, ”, Matthew Kennedy, Kennedy, “, Trump, Shannon Devine, ” Devine, Similarweb, Mark Zuckerberg’s Meta, Gettr, Tom Liu, Musk, ” Kennedy Organizations: New, New York CNN, Trump Media & Technology, Trump Media, CNN, Trump, Truth, Renaissance, Social, ” Trump Media, Elon Musk Locations: New York, Similarweb

☆ How the US became hooked on sports betting – and the cost it’s having on lives
▼ + stars: | 2024-05-03 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +11 min

“I noticed all my memories were really gambling related,” Malek explains to CNN Sport. So right where the AGA and the National Council for Problem Gambling is located – the nation’s capital – they abolished all public funds for problem gambling,” adds Whyte. Ramon Zelaya, the moderator of Reddit’s problem gambling forum, concurs. “I think the pace of innovation right now, particularly as it relates to fan engagement and betting, and in play betting and live betting will continue to increase,” said Maloney. Reportedly there were two specific games in which DraftKings Sportsbook flagged prop bets involving Porter in its daily betting insights.

Persons: CNN —, Saul Malek, he’d, “, ” Malek, I’d, Malek, ”, Michael Reaves, Getty, Dominick Reuter, Joe Maloney, ” Maloney, ” Keith Whyte, Maloney, “ We’re, Al Bello, Whyte, “ We’ve, LeBron James ’, DraftKings, you’re, Greg Olsen, Jared C, Tilton, Adam Silver, Silver, Ramon Zelaya, ” Zelaya, “ I’ve, Sportradar, expained, Candice Ward, Reuters Maloney, Jontay Porter, Porter, “ It’s, Brian Sevald Organizations: CNN, CNN Sport, Gamblers Anonymous, Saturday’s Kentucky Derby, Kentucky Derby, Supreme, District of Columbia, Super, American Gaming, Monmouth, Getty, “, Republicans, National Council, Belmont Park, ESPN, NCAA, NFL, NASCAR Hall of Fame, NBA, Reuters, Sporting, Toronto Raptors Locations: Saturday’s, Churchill, Nevada, Monmouth, Oceanport , New Jersey, AFP, America, New York, Belmont, District, –, North Carolina

☆ Campus Protests After Day of Arrests, Demonstrations Appear More Muted
▼ + stars: | 2024-05-03 | by ( John Yoon | ) www.nytimes.com time to read: +5 min

Image Students at Rutgers University’s campus in New Brunswick, N.J., dismantled their tents on Thursday. But he also indicated that talks the administration had begun holding with student protesters on Wednesday had been fruitful. The move at Rutgers follows similar deals that Brown University and Northwestern University struck earlier this week to end encampments there. Some Jewish groups voiced outrage about those agreements, calling them a capitulation to demonstrators who had created a hostile environment on campus. She noted that the deal had been reached without any arrests on campus, unlike at some other universities across the country where violence has erupted.

Persons: Mary Ann Koruth, Jonathan Holloway, Dr, Holloway, kaffiyehs, Hana Hassan, Hassan, “, ”, Todd Wolfson, Mr, Wolfson Organizations: Rutgers University’s, ., Content Services, Palestinian, Rutgers University, Rutgers, Brown University, Northwestern University, University of Florida, Hillel International, Jewish, University, New, Tel Aviv University, New Brunswick campus’s, Justice, U.S . Education Department, university’s Center, Islamic Locations: New Brunswick, N.J, Israel, Middle, Voorhees, Palestine, New Jersey

☆ Gold set for second weekly fall; U.S. payrolls on investors' radar
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices were poised for a second straight weekly decline, although bullion held steady on Friday as investors remained cautious ahead of the U.S. non-farm payrolls data that could provide cues on the Federal Reserve's rate cut timeline. Spot gold held its ground at $2,306.84 per ounce by 0457 GMT but lost more than 1% this week. Softer U.S. payrolls print could provide support for gold but a better report may weigh on prices, Wong added. The non-farm payrolls report is due at 1230 GMT.

Persons: Christopher Wong, Wong, Wang Tao, Fawad Organizations: Co, U.S ., Fed, City Index Locations: Bangkok, Thailand, Egypt, Israel

☆ Live updates: University protests at UCLA, Columbia campuses amid Israel's war in Gaza
▼ + stars: | 2024-05-02 | by ( Elizabeth Wolfe | Dalia Faheid | ) edition.cnn.com time to read: +4 min

Hundreds of demonstrators have been arrested in the last 24 hours as protests decrying Israel's bombardment of Gaza continue at university campuses across the nation. The majority of demonstrations have called for the divestment from companies that support Israel and the war in Gaza. Meanwhile, at the University of Arizona, law enforcement used pepper balls and rubber bullets against protesters Wednesday, the university said in a statement. The Los Angeles Police Department has also issued a city-wide "tactical alert" related to a pro-Palestinian encampment at UCLA, a law enforcement source told CNN. University of Texas at Dallas: At least 17 arrests have been made at the campus as of Wednesday evening, school officials said.

Persons: That's, Minouche Shafik, Lowenstein, Jennifer L, Mnookin Organizations: University of California, CNN, University of Arizona, Columbia University, City College, Hamilton Hall, City College of New, University, Dartmouth College, WMUR, Fordham University, NYPD, Buffalo, Los Angeles : Police, Los Angeles Police Department, UCLA, University of New, State, New Hampshire Department of Safety, ” University of Texas, Austin Fox, University of Texas, Austin, Texas Department of Public Safety, . University of Texas, Dallas, University of Wisconsin Locations: Gaza, Israel, Los Angeles, New York, City College of New York, University of New Hampshire, Austin, Madison

☆ ISS says unions and pension funds should back Norfolk Southern activist investor
▼ + stars: | 2024-05-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

Norfolk Southern Chief Executive Alan Shaw testifies during a Senate Commerce, Science and Transportation Committee hearing titled "Improving Rail Safety in Response to the East Palestine Derailment" in Washington, U.S., March 22, 2023. Norfolk Southern -invested unions and pension funds should back activist Ancora's full seven-director slate at the railroad's shareholder meeting later this month, two different Institutional Shareholder Services proxy advisory services said. Neuberger Berman said earlier that it would support Ancora's case for change at Norfolk Southern, while Canadian asset manager EdgePoint also reaffirmed on Thursday that it would be voting its shares with the activist. (EdgePoint was initially partnered with Ancora's campaign at Norfolk Southern but dissolved that arrangement months earlier.) Top institutional shareholders include Vanguard, BlackRock, State Street and Dodge & Cox, as well as California's pension funds, CalPERS and CalSTRS, and Colorado's public pension fund.

Persons: Alan Shaw, Ancora's, Taft, Jim Barber, Glass Lewis, Barber, investor's, Ancora, Neuberger Berman, EdgePoint Organizations: Norfolk Southern, Commerce, Science, Institutional, Hartley Advisory Services, Social Advisory Services, CNBC, UPS, ISS, Norfolk Southern's, Norfolk, Vanguard, Dodge, Cox Locations: East Palestine, Washington , U.S, Norfolk, East Palestine , Ohio, BlackRock

Spokespeople for Paramount, Redstone's National Amusements, the special committee and Skydance declined to comment. Sony Pictures and private equity firm Apollo Global Management have sent a letter to the Paramount Global board expressing interest in acquiring the company for about $26 billion, according to people familiar with the matter. Paramount Global shares jumped more than 12% on the news that Sony and Apollo submitted a letter formalizing its interest, earlier reported by The New York Times and Wall Street Journal. A $26 billion offer for Paramount Global values the company higher than the company's current $22 billion enterprise value. Redstone could also argue she's more comfortable with pushing forward at Paramount Global without a sale.

Persons: Skydance, hasn't, David Ellison's Skydance, Shari Redstone, It's, Redstone's, Bob Bakish Organizations: Paramount, Sony, Apollo, Skydance, RedBird Capital, KKR, Sony Pictures, Apollo Global Management, Paramount Global, The New York Times, Wall Street Journal, Hollywood, Matrix Asset Advisors, Aspen Sky Trust, Redstone Locations: Apollo

☆ Block shares jump on better-than-expected first-quarter results
▼ + stars: | 2024-05-02 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Earnings per share: 85 cents adjusted vs. 72 cents adjusted that was expected85 cents adjusted vs. 72 cents adjusted that was expected Revenue: $5.97 billion vs. $5.82 billion expectedBlock posted $2.09 billion in gross profit, up 22% from a year ago. Analysts tend to focus on gross profit as a more accurate measurement of the company's core transactional businesses. The Cash App business, which is the company's popular mobile payment platform, reported $1.26 billion in gross profit, a 25% year-over-year jump. Bitcoin, said bitcoin will ultimately help Block "serve more people around the world faster." He added that going forward, Block will be investing 10% of its gross profit from bitcoin products into purchases of bitcoin for investment.

Persons: Block, Jack Dorsey, Afterpay, Dorsey, Amrita Ahuja, Bitcoin, bitcoin Organizations: Twitter, CNBC

☆ Don't feel too sorry for Gen Z — they're outpacing boomers on income and millennials on home ownership
▼ + stars: | 2024-05-02 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But things might not be as bad for Gen Z as they seem. Members of Gen Z are projected to spend more on housing costs like rent, mortgages, insurance, and utilities after inflation between the ages of 22 and 30 than millennials did, a recent RentCafe analysis found. Related storiesYet Gen Z's typically higher earnings mean they'll only spend an estimated 30% of their income on housing compared to 36% for millennials. AdvertisementSuccess may be short-livedIt's worth digging into why Gen Z is doing well financially.

Persons: —, Gen Z, Z, boomers, Gen, millennials, They've, lockdowns, Zeds Organizations: Service, Business, Reserve, millennials

☆ Citi just added these global stocks with over 30% upside to its ‘highest conviction ideas’ list
▼ + stars: | 2024-05-02 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

U.S. bank Citi refreshed its list of "highest conviction ideas" for Europe and recommended a specific trading strategy that investors can adopt right now. "The focus is on bottom-up ideas," Citi's analysts wrote in an Apr. The list also "highlights liquid names in which investors can build positions," the Citi analysts added. Citi's focus list delivered returns of 3.4% over the last 12 months and 5.4% in the past three months. Citi has a target price of £200 on the LSE-listed stock, giving it 34% potential upside.

Persons: —, Leonardo Citi, Leonardo, — CNBC's Michael Bloom Organizations: Citi, U.K . Ministry of Defence, Revenue, London Stock Exchange, New York Stock Exchange, LSE Locations: Europe, U.S, Ireland, Australia, Italy

☆ Former Pennsylvania Nurse Gets Life Sentence in Insulin Deaths
▼ + stars: | 2024-05-02 | by ( Remy Tumin | More About Remy Tumin | ) www.nytimes.com time to read: +1 min

A former Pennsylvania nurse who admitted that she administered excessive doses of insulin to nearly two dozen patients, 17 of whom died, was sentenced to life in prison on Thursday after pleading guilty to murder and other charges. The former nurse, Heather Pressdee, 41, administered high doses of insulin to 22 patients at five rehabilitation centers across Pennsylvania between 2020 and 2023, prosecutors said. Ms. Pressdee was initially charged in May 2023 with killing two nursing home patients and injuring a third. But in November, the state attorney general’s office came forward with additional charges after prosecutors said Ms. Pressdee admitted to trying to kill a total of 19 patients. According to the attorney general’s office, first-degree murder charges were filed against Ms. Pressdee only in cases where “physical evidence” was available.

Persons: Heather Pressdee, Pressdee, general’s, ” Locations: Pennsylvania

☆ U.S. intelligence chief warns Congress of rise in cyberattacks
▼ + stars: | 2024-05-02 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +2 min

Director of National Intelligence Avril Haines testifies before the Senate Armed Services Committee May 2, 2024 in Washington, DC. The top U.S. intelligence official warned Congress of an alarming rise in cyberattacks at a hearing on global threats Thursday. Director of National Intelligence Avril Haines said the number of ransomware attacks worldwide grew as much as 74% in 2023. The comments from Haines come as various companies, such as UnitedHealth Group , MGM Resorts and Clorox , have been disrupted by cyberattacks in the past year. In 2023, cyberattacks also temporarily shut down MGM's hotel booking system and disrupted production at Clorox.

Persons: National Intelligence Avril Haines, Haines, Sen, Angus King, cyberattacks, They've, That's, King, Andrew Organizations: National Intelligence, Senate Armed Services, UnitedHealth, MGM Resorts, Clorox, cyberattacks, Senate Armed Services Committee, U.S, Healthcare Locations: Washington ,, cyberattacks, U.S, East, Maine, China, Russia, Clorox

☆ Gazprom plunges to first annual loss in 20 years as trade with Europe hit
▼ + stars: | 2024-05-02 | by ( ) www.cnbc.com time to read: +2 min

Kremlin-owned gas giant Gazprom said on Thursday it plunged to a net loss of 629 billion rubles ($6.9 billion) in 2023, its first annual loss in more than 20 years, amid dwindling gas trade with Europe, once its main sales market. Analysts had expected net income of 447 billion rubles, according to Interfax news agency. Gazprom's 2023 loss followed a net profit of 1.2 trillion roubles in 2022. It said on Thursday it made a net loss of 364 billion roubles from sales in 2023, in contrast to a profit of 1.9 trillion roubles in 2022. Its total revenue fell to 8.5 trillion rubles last year from 11.7 trillion in 2022.

Persons: Alexei Miller, Vladimir Putin, Ronald Smith Organizations: Gazprom, Saint Petersburg, Soviet, Analysts, BCS Global Locations: Saint Petersburg, Russia, Europe, Soviet Union, Ukraine, Moldova, St . Petersburg, Moscow

☆ Wayfair's losses narrow by more than $100 million after layoffs, even as sales dip
▼ + stars: | 2024-05-02 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Wayfair's sales slid during its first fiscal quarter, but the online furniture retailer reduced its losses after cutting 13% of its workforce at the start of the year, the company announced Thursday. The steepest drop off came from Wayfair's international segment, where sales fell nearly 6% to $338 million compared to the year-ago period. The restructuring – the third Wayfair implemented since summer 2022 – was expected to save the company about $280 million, it said previously. During the quarter, Wayfair's active customers grew 2.8% to 22.3 million, slightly ahead of the 22.1 million that analysts had expected, according to StreetAccount. On average, orders were valued at $285 during the quarter, compared to the $275.07 that analysts had expected, according to StreetAccount.

Persons: Wayfair, Niraj Shah, Shah, – Organizations: LSEG

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