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Macy's — The department store operator added about 3% after beating earnings estimates for the first quarter and raising its full-year outlook. AutoZone reported revenue of $4.24 billion while analysts polled by FactSet forecast $4.29 billion. XPeng — Shares gained 5% after the Chinese electric vehicle firm beat first-quarter estimates on the top and bottom line. The company reported revenue of 25.6 billion yuan, a 38.6% decrease from the fourth quarter of 2023. Zoom Video — Shares slipped nearly 3% even after the video conferencing company reported better-than-expected earnings and revenue for the first quarter.
Persons: Macy's, Lowe's, XPeng, Baird, David Koning, billings, Li Auto, Paul Lejuez, Wall, LSEG, — CNBC's Michelle Fox, Sarah Min, Jesse Pound Organizations: FactSet, Palo Alto Networks, , Technologies, Lam Research, Citi Locations: Keysight
That was the promise of Cerner, the medical-records company Oracle bought in 2021 for $28.3 billion — Oracle's biggest acquisition. At the time, Cerner managed the electronic health records for a quarter of all American hospitals, including those run by the Pentagon and the Department of Veterans Affairs. Larry EllisonCerner's electronic records, in short, were a deadly disaster for the VA. Never mind the futuristic, AI-driven healthcare system Ellison envisioned. In 2015, it beat out Epic, its main competitor, for a $4.3 billion contract to handle electronic health records for the Defense Department. It had agreed to process tens of millions of crucial medical records, but it couldn't handle the subsequent deluge of data.
Persons: Larry Ellison's, Ellison, Cerner, I'm, Larry Ellison, Neal Patterson, Cerner's, Patterson, Ellison's, they're, David Shulkin, Margaret Albaugh, Cerner couldn't, Charlie Bourg, , Larry, Marc Benioff, Ellison protégé, Mike Wilson, David Agus, oncologist, Agus, he'd, Steve Jobs, Sensei, We've, Georges De Keerle, Cerner —, hadn't, Mike Sicilia, Sicilia, Oracle, Anthony Jones Jr, Jones, Donald Remy, didn't, Seema Verma, Neil Evans, Sara Vaezy, Ed Meagher, haven't, Charlie Monroe —, it's, Charlie Bourg —, Bourg, Charlie Monroe, Monroe, Cathy McMorris Rodgers, grandkids, We're, there's Organizations: Oracle's, Oracle, Pentagon, Department of Veterans Affairs, Cerner, RAND Corporation, RAND, Big Tech, GE, Siemens, Cerner Corporation, Defense Department, Department of Defense, Business, Spokane, Ellison Institute of Technology, Microsoft, Agency, Health, Amazon, Veterans ' Affairs, Oracle Health, Navy, Columbus VA, BI, Life Sciences, Intermountain Health, UPMC, DOD, Seabees Locations: Las Vegas, antiaging, Silicon Valley, Spokane , Washington, Cerner, VistA, Bourg, Washington, Sicilia, Ohio, Columbus, Providence, Spokane, Monroe, CloudWorld
People should pay attention to the events in the Middle East from a humanitarian perspective but disregard them as investors, according to author Nassim Taleb. "I would say to investors to basically ignore what's going on in the Middle East and as an individual to worry," the "Black Swan" author told CNBC's Kelly Evans during an interview Monday on "The Exchange." "The connection between the markets and these events is completely unpredictable, even more unpredictable than the events themselves." In addition to his market work, Taleb is a Lebanese American essayist whose seminal work, "The Black Swan: The Impact of the Highly Improbable," warns against trying to predict the unpredictable. He largely has advocated an approach to investing that hedges against unusual events such as the financial crisis of 2008-09.
Persons: Nassim Taleb, CNBC's Kelly Evans, Taleb, Ebrahim Raisi, You've Organizations: Universa Investments, Dow Jones, JPMorgan Chase Locations: Lebanese American, Israel
Financial services company Marex Group could see more than 70% from here, due to its momentous growth rate, according to Goldman Sachs. The firm initiated coverage of London-based Marex Group, a global broker-dealer and commodities market maker, on Monday with a buy rating and a $33 per share price target. About half the growth came from acquisitions, while the rest came from organic growth and share gains, according to Goldman analyst Alexander Blostein. Catalysts behind this growth include strong industry volumes and tailwinds for the Futures Commission Merchants market. Marex Group debuted on the Nasdaq in late April, priced initially at $19 a share.
Persons: Goldman Sachs, Goldman, Alexander Blostein, Blostein, MRX, ROE Organizations: Marex, Futures Commission Merchants, Nasdaq, Futures Commission Locations: London, Europe
Nasdaq notches another record close
  + stars: | 2024-05-20 | 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 EmailNasdaq notches another record closeKara Murphy, Kestra Investment Management CIO, and Brooke May, Evans May Wealth managing partner, join 'Closing Bell Overtime' to talk the day's market action after another record day for the Nasdaq.
Persons: Kara Murphy, Brooke May, Evans Organizations: Kestra Investment Management, Wealth, Nasdaq
A chipmaker was among Monday's biggest analyst calls along with a hospital stock. Morgan Stanley upgraded Micron Technology and raised its price target on the stock — though it sees only limited gains ahead. U.S. Steel shares have dropped more than 26% year to date. The bank upgraded the computer memory stock to equal weight from underweight and increased its price target to $130 per share from $98. He also raised hi 12-month price target to $226 from $189, implying upside of 27% from Friday's close.
Persons: Morgan Stanley, Dell, Samik Chatterjee, Bernstein, Toni Sacconaghi, DELL, — Brian Evans, Jefferies, Christopher LaFemina, LaFemina, Stifel, Ruben Roy, Baird, Tristan Gerra, Tom O'Malley, Brian Evans, Micron Technology Morgan Stanley, Morgan Stanley's, Joseph Moore, Moore, AJ Rice, Rice, Fred Imbert Organizations: CNBC, Micron Technology, UBS, Universal Health Services, JPMorgan, Dell, Jefferies, U.S, Steel, U.S . Steel, Nippon Steel's, Wall, TAM, Nvidia, Barclays Locations: U.S, Friday's
Don't overlook the the financial sector as the stock market trends higher, according to Oakmark Funds portfolio manager and noted value investor BIll Nygren. The Dow Jones Industrial Average closed above 40,000 for the first time on Friday, while both the Nasdaq Composite and S & P 500 entered Monday after four-week-long rallies. Despite the financial sector outperforming the broader market, banking and consumer finance stocks are cheaper compared to all S & P 500 companies, according to Nygren. The Financial Select Sector SPDR Fund (XLF) , which tracks the S & P 500 financials index, has returned 12.6% in 2024, including reinvested dividends, while the S & P 500 has returned less than 11.8%. His portfolio's top holdings include some of the country's largest banks, such as Citigroup and Wells Fargo , as well as regional banks like First Citizens .
Persons: BIll Nygren, Nygren, CNBC's Organizations: Dow Jones, Nasdaq, Citigroup Locations: Wells Fargo
However, as R.J. O'Brien's Tom Fitzpatrick points out, Dow theory signals this run may be short lived. While the Dow Industrials reached a fresh record high, Transports have not been as fortunate. Dow Transports in April suffered their worst month since September 2022, losing 8%. What's more, the actual 40,000 level is more symbolic than meaningful, he said. The Dow Industrials also have a history of pulling back after a 1,000-point increase .
Persons: O'Brien's Tom Fitzpatrick, Dow, Charles Dow, that's, Fitzpatrick, we're, Dow Industrials Organizations: Dow Jones, Dow, CNBC, Transports, Dow Transports, Southwest, FedEx Locations: United
Now that the Dow Jones Industrial Average has made headlines by crossing the 40,000 level for the first time ever on Thursday, what comes next? History shows the 128-year-old-average tends to pull back a bit after crossing large, round number thresholds. "History tends to confirm that the market typically takes a breather after eclipsing millennium milestones." Bear market declines of 20% or more also happened just 5% of the time. .DJI 1Y mountain The 30-stock Dow crossed the 40,000 level on Thursday after flirting with the threshold in April.
Persons: Sam Stovall, Stovall, Dow Organizations: Dow Jones, Dow, Walmart, Nasdaq Locations: 39,8907.88
Take-Two Interactive Software — Shares of the video game company were down more than 2% after an update about the timing of the new Grand Theft Auto game. Doximity also reported in line revenue guidance for the first quarter. Expected revenue of $585 million to $589 million was weaker than the $590.2 million consensus estimate. The information technology company expects earnings of 55 cents to 60 cents per share in the first quarter, weaker than the FactSet consensus estimate of 76 cents earnings per share. Revenue guidance of $3.1 billion to $3.150 billion was less than the anticipated $3.3 billion.
Persons: Reddit, Doximity, Globant, FactSet, Goldman Sachs, — CNBC's Brian Evans, Michelle Fox, Hakyung Kim, Yun Li, Jesse Pound, Pia Singh Organizations: GameStop, OpenAI, Bloomberg, Globant SA, FactSet, Citigroup, DXC Technology
For a food that begins with just flour, water or sometimes eggs, there are infinite variations of pasta. So what happens when you convene a panel of five Italian cuisine experts and ask them to determine the 25 most essential pasta dishes throughout Italy? The final picks appear below in unranked alphabetical order, along with the ideal wine to drink with each pasta dish, as recommended by the chosen restaurants and reviewed by Davies’s husband, the sommelier Marco Lami. This list is the latest in our T 25 series, which highlights significant achievements in the worlds of design, literature, fashion, architecture and food. We chose pasta because it’s the food most associated with Italy, and because it’s the subject of T’s new Travel issue.
Persons: , Davide Palluda, Stefano Secchi, Emiko Davies, Karima Moyer, Roberta Corradin, I’d, Davies’s, Marco Lami, It’s, you’ll, della Neve, dei Fiori, Massimo Bottura’s, Maria Luigia, ” Secchi, Secchi Organizations: della Locations: Italy, Piedmont, York, Tuscany, Umbria, Florence, Sicily, Boston, Paris, Mexico City, Marche, Modena, Emilia, Romagna
Friends with older children told tales of university parent Facebook groups, which were filled with demands that the dining halls specially cook their child's food in avocado oil. But I then joined a few of the parent Facebook groups for my son's new school out of curiosity. I tried not to get sucked into helicopter parenting my college-age kid, but it was hard to let go during the transition. My husband begged me to stop, but I kept getting sucked into post after post and discovered new parent Facebook groups to join. I dipped back into the Facebook groups and saw parents' posts about finding sublets, how to obtain parking passes, and the best grocery stores near campus.
Persons: ranted, Danielle Evans, Cole Organizations: Service, Facebook, Business, LinkedIn Locations: Boston
Evans is the founder of Exceptional Capital, which launched in 2022 among the many emerging VC firms that sprouted during the fundraising boom years. Before pursuing a life in venture capital and tech, Evans hoped to make it to the NFL as a linebacker at the University of Michigan. And then in 2022, Evans decided to launch Exceptional Capital and invest as a solo VC. Exceptional CapitalBecause he's been able to increase the size of his fund, Evans has been able to expand his team. "I could see that for Marell as well, just his work with Exceptional Capital and kind of his determination there."
Persons: , Marell Evans, Evans, he's, Dave Brandon, Brandon, Ben Horowitz, Andreessen Horowitz, Horowitz, A16z, Okta, Owen Van Natta, Hustling, Melissa Morano Aurigemma, Graham Stoddard, Andrew Van Nest, I've, Cody Coleman, Coleman, what's Organizations: Service, Exceptional, Business, NFL, University of Michigan, NCAA, IBM, Facebook, Vision, SV Angel, A16z, Exceptional Capital Locations: Miami, Michigan, San Francisco, Okta, Silicon Valley, SoftBank, , Bessemer
Despite AT & T 's stock trailing the overall market, analysts from JPMorgan and Wells Fargo think the storied company is well positioned for long-term growth. AT & T dates back to 1876, when Alexander Graham Bell invented the telephone and then founded Bell Telephone Company a year later. Both JPMorgan and Wells Fargo think the firm can continue to grow its wireless business with a steady stream of new customers. The analyst maintains an overweight rating on AT & T stock with a $20 per share price target, implying 15% upside moving forward. In the first-quarter, the company said it reported the lowest level of postpaid customer churn for that time period ever.
Persons: Wells, Sebastiano Petti, Alexander Graham Bell, Petti, Wall, Eric Luebchow Organizations: JPMorgan, Bell Telephone Company, 5G
Under Armour — The sportswear maker's Class A shares slumped 11% and its Class C stock fell 9% after it issued lower-than-expected full-year earnings guidance. Under Armour now expects earnings in the range of 18 cents to 21 cents while analysts polled by FactSet had forecast 59 cents. Cisco Systems also hiked its 2024 revenue guidance, saying it now expects revenue of $53.7 billion at the midpoint of a range. Meme stocks — Shares of AMC and GameStop extended losses following the revival of the meme stock movement on Monday and Tuesday. Baidu reported CNY 31.51 billion ($4.7 billion) of revenue, topping the CNY 31.34 billion expected by analysts, according to StreetAccount.
Persons: Armour, FactSet, Goose, Warren Buffett's Berkshire Hathaway, Chubb, Deere, GoodRX, Raymond James, John Ransom, Coupang, Tesla, — CNBC's Michelle Fox, Hakyung Kim, Sarah Min, Samantha Subin, Jesse Pound Organizations: Walmart, Wall, LSEG, Revenue, , Berkshire, Cisco Systems, AMC, GameStop, Deere, Company, Baidu, UBS, ISI, European Union, Facebook Locations: Krakow, Poland, The Seattle
The Biden administration's decision to impose tariffs on $18 billion worth of imports from China could help a handful of stocks break out, according to Morgan Stanley. Stocks that are poised to benefit include U.S. automakers Ford and General Motors , as well as solar panel manufacturer First Solar . Morgan Stanley maintains an overweight rating on First Solar stock. GM YTD mountain General Motors stock. Morgan Stanley maintains an overweight rating on both Ford and GM.
Persons: Morgan Stanley, Laura Sanchez, Sanchez Organizations: Biden, White, U.S, Ford, General Motors, Wall, Department of Commerce and International Trade Commission, GM Locations: China, Cambodia, Malaysia, Thailand, Vietnam
Six Flags stock has ticked up nearly 7% in 2024. The analyst reiterated an overweight rating on the stock as well as a $1,200 per share price target, implying more than 31% upside from Tuesday's close. The analyst has a buy rating on Nvidia with a $1,150 per share price target, or about 26% upside ahead. He also raised his price target on U.S.-listed shares to $5.40 per share from $4.80, though the new forecast calls for a 6% decline over the next year. NIO YTD mountain NIO YTD Lai had downgraded Nio to underweight in February due to slowing sales momentum.
Persons: Chris Woronka, Woronka, Brian Evans, John Vinh doesn't, NVDA, Vinh, Timothy Arcuri, Arcuri, — Brian Evans, Goldman Sachs, Alphabet's, Eric Sheridan, Sheridan, Oppenheimer, Jason Helfstein, GOOG, Helfstein, Brent Thill, Jefferies, Nick Lai, YTD Lai, Fred Imbert, ~$ ( ~$) Organizations: CNBC, JPMorgan, Deutsche Bank downgrades, Flags Entertainment, Deutsche Bank, Fair, Nvidia, Blackwell, UBS, Google, Gemini
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email‘Hot Ones’ host Sean Evans on his hit YouTube show: Didn't have a big dream when I started itSean Evans, host of the popular YouTube show "Hot Ones," joins CNBC's 'Squawk Box' to discuss his hit YouTube show, how the show became such a hit, and more.
Persons: Sean Evans
Analysts think General Motors will emerge as a bright spot in an automobile industry challenged by a weakening electric vehicle market. But Wall Street firms including Citigroup and Bank of America now think General Motors can strengthen its position in EVs. GM TSLA YTD mountain General Motors stock has outpaced Tesla in 2024. The bank has a buy rating on General Motors with a $96 per share price target, implying 113% upside from Monday's $45.17 close. Murphy's $75 per share price target implies 66% upside over the next 12 months.
Persons: Tesla, Itay Michaeli, John Murphy, GM's, Murphy, Ryan Brinkman Organizations: EV, Elon, Citigroup, Bank of America, General Motors, GM, Wall, Citi, JPMorgan Locations: EVs
Check out the companies making headlines in midday trading: Meme stocks — Meme stocks roared for a second day with GameStop surging more than 65% and AMC popping over 70%. AMC's Tuesday rally came even after the movie theater said it completed a $250 million stock sale during Monday's wild trading. Sony — U.S.-listed shares jumped 5.3% after quarterly revenue came in at 3.5 trillion yen, topping the consensus expectation of 2.89 trillion yen from analysts polled by LSEG. On Holding — The shoe maker jumped 16% after first-quarter earnings came in well ahead of analysts' expectations. Boston Beer Company — Shares added 1% after the beer brewer was upgraded by Jefferies to buy from hold.
Persons: United, Newell Brands, Roth, , Yun Li, Michelle Fox, Samantha Subin, Hakyung Kim, Brian Evans Organizations: GameStop, AMC, Sony —, LSEG, Vodafone — U.S, United Airlines —, Barclays, Boston Beer, Jefferies, JPMorgan Locations: Europe
John Cleese is a Miu Miu man
  + stars: | 2024-05-14 | by ( Leah Dolan | ) edition.cnn.com   time to read: +3 min
CNN —A black crewneck, mid-wash jeans, white blazer and a distressed denim Miu Miu cap. Or is the senior a dedicated Miu Miu man? John Cleese's denim Miu Miu cap retails for $550. Originally billed as the spry, sometimes juvenile sibling to grown-up Prada, Miu Miu has not so much rebranded as redefined its vision of youth. Kristen Scott Thomas walked the runway for Miu Miu in September.
Persons: Miu, Sydney Sweeney, Emma Chamberlain — it’s, octogenarian John Cleese, Cleese —, Monty Python, , , Miu Miu, Cleese, Camilla Cleese, Robin Williams, Jean Paul, Gaultier, Issey Miyake, Alexander McQueen, John, Prada, spry, , , Miuccia Prada, Kristen Scott Thomas, Emma Chamberlain, Ayo Edebiri, Emma Corrin, Qiu Huilan —, Chris Evans, Michael Palin, Terry Gilliam, , Evans Organizations: CNN, Paris Fashion, Virgin Radio Locations: British, Paris
Against this backdrop, Wolfe Research screened for stocks that can help investors navigate a still challenging macroeconomic backdrop. "One of our favorite dividend strategies is to buy companies with a virtuous combination of (1) high dividend growth, and (2) a high free cash flow yield," Wolfe Research's Chris Senyek wrote. Johnson & Johnson was one of the companies that made the cut. Johnson & Johnson also said earlier in May it would spend $6.5 billion to resolve all outstanding litigation in the U.S. tied to claims its talc power caused ovarian cancer. JNJ YTD mountain Johnson & Johnson stock.
Persons: isn't, Wolfe, Chris Senyek, Johnson, Enrique Lores, it's, — CNBC's Michael Bloom Organizations: Federal Reserve, Wolfe Research, Wall, Johnson, HP Inc, HP, Constellation Energy, Constellation, eBay, Vistra Energy Locations: U.S, Johnson
Stock futures flickered near the flatline Monday evening as Wall Street braced for the release of key inflation reports. S&P 500 futures inched down 0.02%, while Nasdaq 100 futures slipped 0.08%. Another market catalyst will emerge Tuesday morning as the first of two key inflation reports will be released. "It's not unusual for Wall Street and Main Street to see the economy differently — the different perspective stems from different points of focus. Stock market movements are based on expectations of future economic performance, not necessarily current conditions," said Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management.
Persons: Dow, Dow Jones, Jerome Powell, Brent Schutte Organizations: Nasdaq, Dow Jones Industrial, New York Federal Reserve, PPI, Northwestern Mutual Wealth Management
GameStop — Shares in the video game retailer soared more than 65% on Monday after "Roaring Kitty," the man who fueled the 2021 GameStop mania, posted online on Reddit for the first time in roughly three years. Reddit , Robinhood — Shares of the two companies that were involved with the meme stock mania in 2021 rose on Monday as GameStop surged. Reddit rose more than 9%, hitting its highest level since March, while retail brokerage stock Robinhood gained about 6.2%. Intel — The chipmaker gained nearly 4% after The Wall Street Journal reported that it is in talks for an $11 billion deal with Apollo Global Management to build a factory in Ireland. Airlines — American Airlines gained 4.4%, while United Airlines and Delta Air Lines added 2.9% and 1.7%, respectively, after HSBC initiated coverage with buy ratings.
Persons: Incyte, Morgan Stanley, , Alex Harring, Brian Evans, Hakyung Kim, Jesse Pound Organizations: Walgreens, Alliance, Bloomberg, GameStop, Arm Holdings, Nikkei, Nexstar Media Group, CW, Intel, Street Journal, Apollo Global Management, Technologies, Susquehanna, Airlines — American Airlines, United Airlines, Delta Air Lines, HSBC, Delta Locations: Irving, Texas, Ireland
My family and I ate at Bob Evans, a chain restaurant known mostly for breakfast, for the first time. Our breakfast for 4 people cost $63 and included 4 drinks, an appetizer, and 4 breakfast entrées. AdvertisementAs fast-food prices rise, more consumers are finding the value in dining out at chain restaurants — including my husband and I. We love getting breakfast together on the weekends, so we decided to visit Bob Evans for the first time to see what kind of value we'd find. This story is available exclusively to Business Insider subscribers.
Persons: Bob Evans, , we've Organizations: Service, Business
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