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Shake Shack : The stock soared roughly 19% on Thursday after the burger chain reported a better-than-expected quarter and raised the low end of its full-year revenue guidance. Cramer marveled at how an expensive burger at Shake Shack is selling well, suggesting there's also a market for premium here. Wayfair : Shares fell 3% after CEO Niraj Shah compared the slowdown in home goods to the 2008 financial crisis. "The market is saying look through" the Wayfair situation, Cramer said, adding he has "trouble looking through it." Cramer said Etsy is a frustrating stock because the platform is widely used but the company "has no growth."
Persons: Jim Cramer's, Jim Cramer, Rene Haas, Cramer, Cramer marveled, there's, Niraj Shah, Wayfair, Williams, Etsy Organizations: CNBC, Club, Arm Holdings Locations: Sonoma
Hershey — Shares were down 7% in the premarket after the chocolate maker posted second-quarter results that missed analyst expectations. Amazon — Stock in the e-commerce giant were roughly 2% higher ahead of second-quarter results after the closing bell on Thursday. Shake Shack — Shares were up nearly 9% in the premarket after the burger restaurant chain posted its second-quarter results. Shake Shack also raised the lower end of its full-year revenue guidance. MGM Resorts — The casino operator declined 3% despite posting second-quarter results that beat expectations.
Persons: LSEG, Michele Buck, Shack, Meta, Teladoc, Ferrari, Robinson, — CNBC's Hakyung Kim, Yun Li, Michelle Fox, Fred Imbert Organizations: Hershey —, Moderna, Holdings, , MGM Resorts, MGM Locations: U.S, Europe
However, it topped second-quarter revenue estimates and posted a narrower-than-expected loss for the quarter. Teladoc — The telehealth stock moved more than 4% lower after the company posted weaker-than-expected second-quarter revenue. Air Products and Chemicals — The industrial gases company's stock surged more than 10% after beating Wall Street's earnings expectations. MGM Resorts — The stock declined nearly 14% despite the casino operator surpassing second-quarter earnings expectations. Crocs — The stock shares fell about 2% even though the company surpassed second-quarter earnings and revenue expectations.
Persons: Shack, C.H, Robinson, Teladoc, LSEG, Royce —, Royce, Wall, Meta, Carvana, Crocs, Akash Palkhiwala, , Samantha Subin, Yun Li, Michelle Fox Organizations: LSEG, Moderna, Royce, Air Products, Chemicals, Meta, MGM Resorts, MGM, Arm, Holdings, Qualcomm Locations: LSEG ., U.S
Thursday's rapid fire: Arm, Hershey, Shake Shack, Wayfair, Etsy
  + stars: | 2024-08-01 | 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 EmailThursday's rapid fire: Arm, Hershey, Shake Shack, Wayfair, EtsyJim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio.
Persons: Jim Cramer's Organizations: Shake, CNBC, Club
Alev Kelter helped her team win bronze in rugby sevens — the US's first Olympic medal in the sport. But that wasn't the case for Alev Kelter, an American rugby sevens player who scored on Tuesday to help Team USA win its first medal in the sport. She'd never even touched a rugby ball, but she thought ice hockey may have given her the right mentality for rugby. In 2016, just two years after picking up a rugby ball, Kelter was among the first rugby sevens players to compete in the Olympics. Sevens features seven-person teams playing seven-minute halves instead of the traditional 15-player teams playing 40-minute halves.
Persons: Alev Kelter, , Kelter, she'd, She'd, hasn't Organizations: Olympic, Service, Team USA, Australia, Team USA's, Olympics, HSBC SVNS, Business, Training Locations: Paris, American, Alaska, Chula Vista , California
Kelly Ortberg, chief executive officer of Rockwell Collins Inc., stands for a photograph at the company's production facility in in Manchester, Iowa, U.S., on Wednesday, Aug. 31, 2016. Boeing has named Robert "Kelly" Ortberg to succeed CEO Dave Calhoun, picking a longtime aerospace veteran from outside the company as the manufacturer scrambles to regain its footing from safety and manufacturing crises. Ortberg, 64, previously led major aerospace supplier Rockwell Collins, which later became Collins Aerospace, and the business is now part of industry behemoth RTX . His appointment Wednesday came alongside Boeing's second-quarter results, which revealed a wider-than-expected loss and a 15% drop in sales. "Kelly is an experienced leader who is deeply respected in the aerospace industry, with a well-earned reputation for building strong teams and running complex engineering and manufacturing companies."
Persons: Kelly Ortberg, Robert " Kelly, Ortberg, Dave Calhoun, Rockwell Collins, Boeing's, Calhoun, Kelly, Steven Mollenkopf Organizations: Rockwell Collins Inc, Boeing, Rockwell, Collins Aerospace Locations: Manchester , Iowa, U.S
First Solar is well positioned for growth despite the U.S. election uncertainty that has hit the company's stock as well as the broader renewable industry in recent weeks, according to analysts. The solar module manufacturer's stock was up 5.7% on Wednesday. First Solar is one of the biggest beneficiaries in the renewable energy space from production tax credits under the IRA. While election risk will weigh on First Solar's stock, policy uncertainty tends to be a tailwind for the company, Goldman Sachs analyst Brian Lee told clients in a note. China tariffs could strengthen First Solar's competitive position and pricing power in the U.S., analyst Andrew Percoco told clients.
Persons: Mark Widmar, Goldman Sachs, Brian Lee, Goldman, FSLR, Lee, Donald Trump's, Morgan Stanley, Andrew Percoco, Trump, Percoco Organizations: U.S, White House, Congress, Republican Locations: China, U.S
Ismail Haniyeh was the top figure managing Hamas’s international relations and one of the group’s most recognizable faces worldwide. From his base in Doha, Qatar, he helped lead Hamas in high-stakes negotiations for a cease-fire in Gaza, and he delivered fiery speeches broadcast throughout the Arab world. But his killing in Iran, for which Tehran and Hamas blamed Israel, is unlikely to destabilize Hamas in the long term, analysts say, noting that the group has recovered from past assassinations of political and military leaders. “His assassination is a major blow,” Ibrahim Madhoun, an Istanbul-based analyst close to Hamas, said in an interview. But, he added, “Hamas has faced this situation in the past” and “came out of those scenarios stronger.”The long list of Hamas leaders killed by Israel includes Ahmed Yassin, Hamas’s founder and spiritual leader, in 2004; Salah Shehadeh, the founder of Hamas’s armed wing, in 2002; Abdel Aziz Rantisi, a senior Hamas leader in Gaza, in 2004; and Ahmed al-Jabari, a top commander, in 2012.
Persons: Ismail Haniyeh, , ” Ibrahim Madhoun, Ahmed Yassin, Salah Shehadeh, Abdel Aziz Rantisi, Ahmed al Organizations: Hamas Locations: Doha, Qatar, Gaza, Iran, Tehran, Israel, Istanbul
Once revered as the abodes of the gods, some bring forth diamonds from the depths of the earth. But they also spit lava, shake the earth, unleash towering walls of water and repaint the world’s skies. “We’re going through a volcanic crisis,” said Matthew J. Roberts, the managing director of the Icelandic Meteorological Office. “This is perhaps the most intense period of volcanic activity affecting an urban environment at the moment.” Officials are now further restricting access to the likely eruption site, he said. The latest episode began on May 29, when a volcano in southwestern Iceland erupted for the fourth time since December.
Persons: , , Matthew J, Roberts Organizations: Icelandic Meteorological Locations: Iceland, Grindavik
Westend61 | Getty ImagesAn automated financial advisor called PortfolioPilot has quickly gained $20 billion in assets in a possible preview of how disruptive artificial intelligence could be for the wealth management industry. The world's largest wealth management firms have rushed to implement generative AI after the arrival of OpenAI's ChatGPT, rolling out services that augment human financial advisors with meeting assistants and chatbots. "People are fed up with cookie-cutter portfolios," Harmsen told CNBC. Global Predictions targets people with between $100,000 and $5 million in assets — in other words, people with enough money to begin worrying about diversification and portfolio management, Harmsen said. After realizing it could have a broader use, Harmsen began building a team for Global Predictions, including three former employees of Bridgewater Associates, the world's largest hedge fund.
Persons: PortfolioPilot, Alexander Harmsen, OpenAI's, Morgan Stanley, Harmsen, we'll Organizations: Global, Morado Ventures, NEA Angel Fund, CNBC, Bank of America, Bridgewater Associates Locations: San Francisco
In the summer of 2019, the American fast-food chain Panda Express introduced a limited-time-only special it called Sichuan hot chicken. Never mind that the dish would have been unrecognizable to anyone in Sichuan, a province in southwestern China. The menu promised numbing Sichuan pepper in the sauce. But all seemed to agree that the hot chicken was not, in fact, hot. Nor did it offer much of the heady tingle of Sichuan pepper (not a chile, despite its name), which at its most potent can make your entire mouth buzz like a hive.
Persons: fryer, Chiles, carmine, gentlest Organizations: Panda Locations: Sichuan, China
CNN —Two suits, two women, one message: “Hotties for Harris.” At least that was the phrase scrawled across banners at Kamala Harris’ campaign rally in Atlanta Tuesday night. Minutes later, Harris walked onto her podium to rapturous applause — also in a blue pantsuit. From being endorsed by Charli XCX and co-opting the album of the summer, “Brat,” to capitalizing on the 32.3 million-strong fandom of Megan Thee Stallion, her advisors have been honing in on the 18-27 demographic. Kamala Harris' icy blue suit seemed twinned in a way with Megan's cropped version. It’s hard to picture Clinton signing off on a decision to have Megan Thee Stallion “shake cheeks,” as one fan on Instagram wrote, in a cropped suit at a rally.
Persons: Hotties, Harris, , Kamala Harris ’, , Megan Thee Stallion, Abdul Sall, Donald Trump, Megan Thee Stallion's, Julia Beverly, Charli XCX, Vanessa Friedman, ” —, Megan, Kamala Harris, John Bazemore, Megan isn’t, Harris won’t, Hillary Clinton’s, Bon Jovi, Lady Gaga, Clinton, Megan Thee, Instagram, Gen Organizations: CNN, Democratic, Getty, New York Times, Democratic National Convention Locations: Atlanta, Cleveland , Ohio
Ledecky broke her own Olympic record set three years ago in Tokyo by more than five seconds and finished 10 seconds ahead of France’s Anastasiia Kirpichnikova, whose finish had the home nation fans in full voice. Marchand set an Olympic record in the 200m breaststroke. Maddie Meyer/Getty ImagesHe never looked bothered in the 200-meter breaststroke, setting yet another Olympic record as he cruised to victory. First world record set in the Paris poolThe pool at La Défense Arena has been described as slow by some of the swimmers in Paris. Pan of China reacts after setting a new world record - first swimming world mark of the Paris Games.
Persons: Katie Ledecky, Ledecky, Kirpichnikova, Quinn Rooney, , I’m, ” Ledecky, Marchand, Léon Marchand, Kristóf Milák, Maddie Meyer, , Ueslei Marcelino, Pan Zhanle, Pan, Huske, Sarah Sjöström, Sjöström, Hong Kong’s Siobhan Bernadette Haughey, Sarah Stier, ” Sjöström Organizations: France CNN —, Games, Défense, La Défense, Paris Games, Reuters, La Locations: Nanterres, France, French, Tokyo, France’s, exultation, American, Montreal, Paris, China, Doha, Qatar, Lane, Huske
Don’t Tell My Friends, But… is a seriesin which we asked Times columnistswhateveryone else is wrong about. The two concepts are so distinct within Christianity that they have different names — orthodoxy (right belief) and orthopraxy (right conduct). Right conduct should flow from right belief. The person who prioritizes orthodoxy says, “Hear my voice.” The person who prioritizes orthopraxy says, “Watch my life,” and the competing emphases can play out in concrete political ways. By contrast, the person who prioritizes orthopraxy has the opposite inclination.
Persons: Let’s, sears, , Donald Trump, They’re, orthopraxy, Robert Morris, United States —, Morris, Sybil Jordan Hampton, wouldn’t, Russell Moore’s, Moore, It’s, Paul Organizations: Southern Baptist Convention, Gateway, Evangelical America Locations: Southern, orthopraxy, Christianity, United States, Louisiana, Kentucky, Little Rock, Ireland
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In a little over a week, the index sank from near 5,670 to under 5,400 as the mega-cap tech stocks that drove the market higher suddenly sold off. Advertisement"You have to get involved in stocks; you have to be invested in the US equity market," Salama told Business Insider. However, the trader isn't abandoning his bullish view on mega-cap tech stocks. AdvertisementStoltzfus agrees that the market's favorite stocks, including those tied to artificial intelligence, aren't wildly overvalued, as some bears have argued.
Persons: , John Salama, he's, Salama, There's, John Stoltzfus, who's, Stoltzfus, I've, Trump, Biden, Harris, Parris, it's Organizations: Service, Business, Labor, Oppenheimer Asset Management, House, Shmump, Dell Technologies
Read previewA Ukrainian fencer dedicated her Olympic medal to "athletes who could not come and be here because Russia killed them." This story is available exclusively to Business Insider subscribers. Related storiesUkraine's National Olympic Committee told Business Insider by email in February that 422 athletes had been killed in the war with Russia. Kharlan received an exemption citing her "unique situation" from the president of the International Olympic Committee — himself an Olympic fencing champion — which allowed her to attend Paris Games. Athletes from Russia and Ukraine have increasingly been at odds since Russia launched its full-scale invasion of Ukraine in 2022.
Persons: , ake, harlan, ames, hough, ince, cale, Ольга Харлан, Олмпади Organizations: Service, Business, aris G Locations: Russia
Military and police personnel arrest protesters during the anti-corruption protest in the Ugandan capital, Kampala, on July 23, 2024. Those protesting are angry about widespread government corruption in the country, which loses an estimated Sh. 10 trillion ($2.7 billion) in public funding to graft annually, according to Ugandan anti-corruption body the Inspectorate of Government (IG). In the preceding months, Ghana, Senegal’s fellow West African state, saw days of anti-government protests as demonstrators railed against economic hardships and unemployment. “All over Africa, we are… sitting on a keg of gunpowder,” he said in a recent interview with CNN affiliate Citizen TV.
Persons: Z –, William Ruto, Fabz, Anita Annet, Yoweri Museveni, Inibehe Effiong, , Bola Tinubu, Edward Buba, ” Mugano, Mamadou Thior, ” Thior, Thior, Macky Sall, Sall backtracked, Bassirou Diomaye Faye, Olusegun Obasanjo, There’s, … unempowered, Obasanjo Organizations: CNN, Military, Xinhua, Security, of Government, World Bank, South Africa’s Durban University of Technology, , Citizen TV Locations: Kenya, East, Kampala, Uganda, Ugandan, United States, United Kingdom, Nigeria, West, Africa, West Africa, Senegal, Ghana
Electric Cars Help the Climate. But Are They Good Value?
  + stars: | 2024-07-29 | by ( Jack Ewing | ) www.nytimes.com   time to read: +1 min
Electric vehicles cost more to buy than gasoline cars, and they may lose value more quickly. And because electric vehicles are a new technology, there is less certainty than for gasoline-powered vehicles about how the numbers will shake out over time. Most electric cars haven’t been on the road that long, so it’s hard to say definitively how long batteries will remain usable. Lithium-ion batteries, the kind used in virtually all electric vehicles, do lose range over time. Electric cars from Tesla and other automakers have software that does a good job of protecting batteries from excess heat or voltage that can cause damage, especially when charging.
Levoit LVAC-200 Cordless Stick Vacuum Levoit's cordless stick vacuum offers great performance for the price. AdvertisementOur review of the Levoit LVAC-200 Cordless VacuumThe Levoit LVAC-200 is lightweight and easy to use, plus it can stand on its own, without a dock. This rings true for the Levoit LVAC-200 Cordless Vacuum. The LVAC-200 Cordless Vacuum is compact but packs a major punch with performance almost on par with the high-end vacuums I've tried. Some purchase-worthy alternatives are our best overall and budget-friendly picks, the Shark Stratos Cordless Vacuum and Hoover OnePWR Evolve Pet Elite Cordless Vacuum, respectively.
Persons: I'm, Levoit, Pauline Lacsamana, isn't, it's, Dyson, vacuums I've, scratchers, Cheerios, It's, I've, Sophia Carlisle, we've, Stratos, Hoover OnePWR, Hoover, Ken Doty Organizations: Business, Eco, micron, Shark, Hoover
As the rest of the world fought to keep inflation in check, one country welcomed it with open arms. So while major central banks like the U.S. Federal Reserve raised interest rates to rein in prices, the Bank of Japan kept rates low as inflation accelerated. Businesses could cite their rising costs to justify price increases, leading to higher revenues that went toward higher wages for workers. There have been some promising signs: Big Japanese firms like Toyota have reported large profits and pledged the biggest wage increases for workers in decades. In March, the Bank of Japan raised its policy rate for the first time in 17 years, concluding that the economy had achieved the “virtuous cycle” between wages and prices it had envisioned.
Organizations: U.S . Federal Reserve, Bank of, Toyota, Bank of Japan Locations: Japan, Bank of Japan
Americans keep turning their backs on McDonald’s
  + stars: | 2024-07-29 | by ( David Goldman | ) edition.cnn.com   time to read: +5 min
CNN —Inflation has caught up with McDonald’s, and budget-conscious Americans are looking elsewhere for their fast-food fix. The tough environment for McDonald’s wasn’t limited to the United States: Sales at stores open for at least a year fell 1% globally. The plan focuses on value meal plans like the popular $5 meal introduced earlier this summer. He pointed to McDonald’s new emphasis on chicken, which is now on par with beef sales at restaurants. Whether or not that viral post was the final straw for McDonald’s customers, Americans have been punishing the company ever since.
Persons: McDonald’s, McDonald’s isn’t, Grimace’s, , Chris Kempczinski, hadn’t, Kempczinski, , ” Kempczinski, Organizations: CNN, Inflation, McDonald’s Locations: Burger, United States, Connecticut
Olha Kharlan of Ukraine shouted in celebration under the vaulted glass dome of the Grand Palais on Monday, after an early round victory in her pursuit of a fifth career Olympic medal in saber fencing. She had reached the semifinals by Monday afternoon. But her mere presence confirmed that this niche sport, perhaps more than any other, illustrates the acrimony and caustic feuding that have resulted from Russia’s invasion of Ukraine. Kharlan, 33, was disqualified from the World Fencing Championships last summer for refusing to shake hands with her Russian opponent. But Thomas Bach, the president of the International Olympic Committee and himself a 1976 Olympic fencing champion, gave Kharlan an exemption to participate in the Paris Games, citing her “unique situation.”
Persons: Olha, Thomas Bach, Organizations: Monday, International Olympic Committee, Paris Games Locations: Ukraine, Kharlan
Bandit is an apparel brand that's tapping into running communities around the worldBandit was cofounded by Tim West, Ardith Singh, and Nick West. Investors include Marc Lore and Alex Rodriguez's VCP Ventures, Bullish, Drive by DraftKings, Joyance Partners, Scrum Ventures, and 458 Capital. Bandit is helping drive this trend and is poised to benefit from it. Founded in 2021 by CEO Nick West, creative director Tim West, and chief design officer Ardith Singh, the company has been tapping into running communities in the US and around the world. It's grown distribution to include two stores in New York, an online shop, and partnerships with specialty retailers globally.
Persons: Tim West, Ardith Singh, Nick West, Joseph Hale, Marc Lore, Alex Rodriguez's VCP, Meredith McPherron, McPherron, Michael Proman Organizations: Investors, Alex Rodriguez's VCP Ventures, Joyance Partners, Scrum Ventures Locations: New York
Read previewFor a while now, AI stocks have seemingly had the ability to defy gravity. This week, tech companies central to the generative AI boom, including Amazon, Apple, Microsoft, and Meta, report earnings at a time when the market rally they've helped drive teeters on the brink of a correction. If its Big Tech peers also struggle to tell investors that AI isn't just sucking up cash, we might see the AI rally lose some steam. AI hype faces a major testThe rationale behind why AI stocks have been able to defy gravity is pretty simple. Since March, gains in the S&P 500 have been driven by chip firms like Nvidia and the so-called "Fab Five" AI Big Tech stocks, including Alphabet, Amazon, Apple, Microsoft, and Meta.
Persons: , they've, robotaxis, Sundar Pichai, Jensen Huang, Tim Cook, Meta's Mark Zuckerberg, Satya Nadella, OpenAI, Dan Ives Organizations: Service, Apple, Microsoft, Meta, Nasdaq, Tesla, Google, Business, Big Tech, Apple Intelligence, Nvidia Locations: Silicon
Then, a week ago, Biden announced his exit from the race – and pointed to Harris, his vice president, as his successor. Vice President Kamala Harris speaks at a campaign event in West Allis, Wisconsin, on July 23, 2024. Will Lanzoni/CNNVeepstakes, convention questionsAmong the next orders of business for Harris’ campaign is to accomplish two tasks in a period of days or weeks that Trump’s campaign achieved over months. Many of those potential picks have been offering Harris’ campaign informal glimpses of how they’d perform as her running mate through appearances on cable news shows. Then, Harris’ campaign and its allies must rapidly revise plans for the Democratic National Convention, which is set to start on August 19 in Chicago.
Persons: Donald Trump, Kamala Harris, Joe Biden’s, Trump, Trump’s, Ohio Sen, JD Vance, Biden, Harris, Michelle Obama, , Kevin Mohatt, Reuters Trump, Margaret Thatcher, “ Margaret Thatcher didn’t, Benjamin Netanyahu’s, Netanyahu, didn’t, ” Harris, Doug Emhoff, I’m, , , you’re, Vance, fraudsters, cheaters, Donald Trump’s, Will Lanzoni, Eric Holder, Tony West, Harris ’, Holder, Roy Cooper, Josh Shapiro, Arizona Sen, Mark Kelly, Pete Buttigieg, Andy Beshear, Tim Walz, Harris –, Biden’s, Joe Biden, wouldn’t, ” Trump, Steven Cheung, , Tucker Carlson’s, Carlson, they’ve, Buttigieg, Alexandria Ocasio, Cortez, CNN’s Kaitlan Collins, Jennifer Aniston, Megyn Kelly, SiriusXM, ” Vance, it’s, ’ ” Vance, Charli XCX, , , Jared Polis, Maxwell Frost, ” Harris ’, CNN’s KFile, George Floyd, “ We’re, Lyin ’ Kamala Harris, Dave McCormick, Democratic Sen, Bob Casey, Casey, McCormick, Kamala Harris ’, CNN’s Jeff Zeleny, Kit Maher, Terence Burlij, Sam Fossum, Alayna Treene, Alison Main, Kim Berryman, Andrew Kaczynski, Em Steck Organizations: CNN, Democratic Party, Republican Party, Democratic National Convention, Democratic, Trump, Reuters, Jewish, San, Republican National Convention, North Carolina Gov, Arizona, Transportation, Senate, Kentucky Gov, Minnesota Gov, Electoral, Sun, Biden, Atlanta, ABC, Democrat Party, Tucker Carlson’s Fox, New York Rep, Twitter, Colorado Gov, , Central America, Republican National Committee, Republicans, Immigration, Customs Locations: Pennsylvania, Ohio, Milwaukee, Wisconsin, West Allis , Wisconsin, Florida, St, Cloud , Minnesota, Minnesota, Washington, Israel, Massachusetts, San Francisco, California, Chicago, Michigan , Pennsylvania, Arizona , Georgia, Nevada, North Carolina, United States, Alexandria, British, ” Florida, New York, Minneapolis, Central
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