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☆ Turkey's runoff election is paralyzing key oil exports from northern Iraq
▼ + stars: | 2023-05-25 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +6 min

Oil typically flows through Turkey from both the Iraqi state and the semi-autonomous Kurdistan Regional Government (KRG). More specifically, this Kirkuk crude flows down the Iraq-Turkey Pipeline linking the north of the Gulf country with Turkey's Ceyhan port in the Mediterranean. But the flows have been paralyzed since March 25 by a legal dispute involving federal Iraq, the KRG and Turkey. This decision led to U.S. companies deciding to exit contracts in Kurdistan and deterred some KRG oil buyers from further purchases. "The ruling party in Turkey [Erdogan's AKP] wants to settle the elections and then deal with KRG's oil with Baghdad."

Persons: KRG, Hayan Abdul, Ghani, —, Recep Tayyip Erdogan, Kemal Kilicdaroglu, Lawk Ghafuri, Yerevan Saeed, Saeed, Bilal Wahab, Wagner Organizations: CNBC, Kurdistan Regional Government, Turkey Pipeline, International, Commerce's, Reuters, ICC, Baghdad, BTC, Kurdistan, Gulf Institute, Sinjar, Washington Institute for Near East Locations: Turkey, Ankara, Baghdad, Iraqi, Kurdistan, Kirkuk, Iraq, Basra, Paris, U.S, Ceyhan, Baku, Syria, Erbil, Yerevan, Washington

☆ Lab-grown breast milk startup Biomilq aims to change infant nutrition — if it can release a product
▼ + stars: | 2023-05-20 | by ( Natasha Piñon | ) www.cnbc.com time to read: +11 min

Biomilq, the company behind the breakthrough, had been working for nearly a decade to replicate the process of making human milk — but outside of the body. While the crisis has highlighted the importance of a resilient formula supply, human milk experts, milk bank advocates and Biomilq all stress the same message: Breast milk is best. The startup will likely take a "gradual approach" to introducing its science via "an early-life nutrition product in partnership with one of these bigger companies," Strickland explained. Breast milk is woefully understudied — to the point that it's difficult "to even say what human milk is from a nutritional standpoint," Perrin explained. The company is researching which aspects of human milk its system is best suited to produce.

MUMBAI, May 19 (Reuters) - Investors are looking beyond the U.S. technology sector's bounceback this year for longer-term returns, as higher interest rates and an uncertain macroeconomic picture could present further headwinds, fund managers and strategists said. "The tendency is that ... the sector that leads in one cycle doesn't tend to lead in the following cycle," Yoder told the Reuters Global Markets Forum. "We are staying away from the more interest rate-sensitive sectors such as tech," said Jonathan Mondillo, head of North American fixed income at abrdn. Anticipating an economic slowdown in the second half, more cautious and selective positioning across fixed income portfolios is a better bet, said Jonathan Duensing, head of U.S. fixed income at Amundi. "We've always felt that the tech sector in general is one where you need to be very selective," Duensing said.

☆ Here are Wednesday's biggest analyst calls: Tesla, Wynn, Walmart, Alphabet, Western Alliance & more
▼ + stars: | 2023-05-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Bernstein reiterates Tesla as underperform Bernstein said after the automaker's shareholder meeting that it sees trouble ahead. Bank of America upgrades AppLovin to buy from neutral Bank of America said it sees accelerating revenue growth for the mobile tech company. Stephens reiterates Walmart as overweight Stephens said it's standing by its overweight rating heading into Walmart earnings Thursday. Bank of America reiterates ServiceNow as buy Bank of America said the software company is well positioned for AI. " Stephens reiterates Western Alliance as overweight Stephens said it's standing by its overweight rating on the regional bank.

☆ Israel's Bezeq Telecom sees benefits from AI as posts flat Q1 profit
▼ + stars: | 2023-05-17 | by ( Steven Scheer | ) www.reuters.com time to read: +2 min

JERUSALEM, May 17 (Reuters) - Bezeq Israel Telecom (BEZQ.TA) reported flat quarterly profit on Wednesday, and said it expects to reap benefits from an exponential expansion of data created by artificial intelligence (AI) platforms through more lucrative fibre optics growth. Bezeq is working with Nokia to provide broadband speeds of up to 25 gigabits per second (Gbps) and said it plans to offer 10 Gbps in 2024, reaching 25 Gbps by 2027. It currently offers a maximum of 2.5 Gbps. Fischbein also said that he remained comfortable with Bezeq's forecast of 1.2 billion shekels of net profit in 2023. Shares of Bezeq were up 0.3% to 5 shekels in afternoon Tel Aviv trading, but are nearly 18% lower so far in 2023.

☆ Wall St dips, Treasury yields climb on mixed data; debt ceiling talks take spotlight
▼ + stars: | 2023-05-16 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 15, 2023. Meanwhile, disappointing results from Home Depot (HD.N), combined with weaker-than-expected retail sales data suggested consumer spending is losing some momentum as restrictive monetary policy dampens demand. However, a core measure of retail sales suggested the American consumer continues to bolster the economy. U.S. Treasury yields continued to climb on the heels of the Retail Sales data, suggesting that the Fed's efforts to toss cold water on the economy in order to rein in inflation has yet to take full effect. The greenback edged higher against a basket of world currencies after the weaker-than-expected retail sales data, shifting focus to the partisan debt ceiling wrangling unfolding in Washington.

☆ The NASDAQ's MACD line is approaching bullish territory, says Jim Cramer
▼ + stars: | 2023-05-15 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

The NASDAQ's MACD line is approaching bullish territory, says Jim Cramer'Mad Money' host Jim Cramer breaks down the NASDAQ MACD line and why it might be a good omen in a turbulent market.

☆ Cramer's Lightning Round: I am not a believer in Coinbase
▼ + stars: | 2023-05-15 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Chewy's year-to-date stock performance. Stock Chart Icon Stock chart icon Enterprise Products Partners year-to-date stock performance. Stock Chart Icon Stock chart icon Coinbase Global's year-to-date stock performance. Stock Chart Icon Stock chart icon Amgen's year-to-date stock performance. Stock Chart Icon Stock chart icon Snowflake's year-to-date stock performance.

☆ JPMorgan's massively popular income ETF is getting beat by its own sister fund
▼ + stars: | 2023-05-14 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

Investors are still jumping into the fund in 2023, pushing its total assets to about $26 billion. Through May 11, the fund has a total return of just 3.4% year to date, underperforming the S & P 500. Meanwhile, its sister fund, JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) , has been a big winner for investors. That fund has returned more than 17% this year, and its 30-day SEC yield is nearly 14%, as Nasdaq stocks have outperformed the S & P 500. "More volatile means you're going to get more potential upside by selling a farther-out-of-the-money call, and more income," Reiner said.

☆ Oil prices fall on stronger dollar, demand fears
▼ + stars: | 2023-05-12 | by ( ) www.cnbc.com time to read: +3 min

Oil prices settled more than 1% lower on Friday, falling for the third consecutive week, as the market balanced supply fears against renewed economic concerns in the United States and China. "Lack of confidence in the economy is translating to a retreat to the safer dollar, and is also causing pessimism about oil demand," said John Kilduff, partner at Again Capital LLC in New York. Meanwhile, China's April consumer price data rose at a slower pace than in March, missing expectations, while deepening factory gate deflation refocused doubts about its recovery from COVID restrictions driving oil demand growth. U.S. oil rigs fell by two to 586 this week, their lowest since June 2022, while gas rigs plunged by 16 to 141, their lowest April last year. The Organization of the Petroleum Exporting Countries (OPEC) kept its global oil demand forecast for 2023 unchanged on Thursday, expecting economic risks to be offset by higher Chinese demand growth.

☆ Robinhood jumps in extended trade after beating revenue estimates, 24-hour trading announcement
▼ + stars: | 2023-05-10 | by ( Stephen Culp | ) www.reuters.com time to read: +1 min

NEW YORK, May 10 (Reuters) - Shares of Robinhood Markets Inc (HOOD.O) were last up 2.4% in extended trading after the company beat quarterly revenue forecasts and confirmed it would launch 24-hour trading services. The financial services platform, which came to the fore in 2021 amid the retail trading frenzy surrounding so-called meme stocks, also reported an adjusted quarterly loss of 57 cents per share, narrower than the 61-cent loss analysts expected. Of the 14 analysts covering the stock, three recommend "buy," seven say "hold," and the remaining four have "sell" ratings. Robinhood is nearing its second anniversary as a publicly listed company, and the stock closed on Wednesday 76.1% below its offer price of $38 per share. Reporting by Stephen Culp in New York Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ CNBC Daily Open: Investors liked April's jobs growth
▼ + stars: | 2023-05-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Broader markets were boosted by April's jobs report, which showed a higher-than-expected increase in jobs growth and an unemployment rate of 3.4% — a record low since 1969. Recall January's jobs report: There were 517,000 new jobs in December, almost three times the forecast. A strong jobs market increases the probability that the U.S. economy can tame inflation without contracting too severely. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: Investors like jobs growth
▼ + stars: | 2023-05-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

The seizure was to "thwart the activity" of Islamic State and "impair its ability to further its goals," the NBCTF said on its website. The NBCTF document, which has not been previously reported, did not give any details on the value of the crypto seized, nor how the accounts were connected to Islamic State. Binance, the world's largest crypto exchange by trading volumes, did not respond to Reuters' calls and emails seeking comment. The U.S. Treasury said in a report last year that Islamic State had received crypto donations it later converted to cash, accessing funds via crypto trading platforms. The owner of the two Islamic State-linked Binance accounts seized by Israel was a 28-year old Palestinian called Osama Abuobayda, the NBCTF document shows.

"Because of higher prices, people are buying smaller amounts of groceries overall and may have become more careful not to waste food." "Despite all of that, (there are) 8% to 12% missing items on shelves," he said. "This has created a major, major issue around out-of-stock" in most of the 16 Middle Eastern countries where the company operates, he said. Laurent Thoumine, Accenture's Europe lead for retail, said supermarkets in Britain, France, Germany, Italy and Spain have had the worst stock issues. Products that are scarce in some stores include ketchup, pasta, chocolate, tea, potato chips, toothpaste and pet food, according to Nielsen IQ's Data Impact.

Companies TotalEnergies SE FollowBAGHDAD, May 3 (Reuters) - Iraq and TotalEnergies (TTEF.PA) expect to kick-start a long-delayed $27 billion project within the next two weeks, Iraq's oil minister Hayan Abdel-Ghani said on Wednesday. Abdel-Ghani said at a conference in Baghdad he expected five side agreements related to the deal to be signed in the next two weeks, paving the way for implementation to commence. Chief Executive Patrick Pouyanne said last week the two sides had reached an agreement on Iraq's stake in the project. "I think (it) is a good setup with our finalising of all the paperwork," Pouyanne said on TotalEnergies' first-quarter results call last week. "The government of Iraq confirmed the whole contract, no modification at all ... so that was for me more than a good news," Pouyanne said.

☆ This under-the-radar server tech stock will rally on ‘this AI moment,' Loop Capital says
▼ + stars: | 2023-05-03 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

It's time to buy Super Micro Computer after its latest earnings results on the strength of its artificial intelligence outlook, according to Loop. Analyst Ananda Baruah hiked his price target to $150 from $100. The new price target implies shares can jump 43% from Tuesday's closing price of $104.43. The price target hike comes after Super Micro Computer reported results from its latest quarter. Super Micro Computer forecasts per-share adjusted earnings between $2.21 and $2.71 in its fourth quarter, greater than the $1.76 consensus estimate from FactSet.

Foxconn struck a deal in November to take a near-20% stake in the money-losing U.S. firm for up to $170 million. It has since invested $52.7 million and is balking at purchasing additional shares, citing a breach of their agreement, Lordstown said. "There is substantial doubt regarding our ability to continue as a going concern," Lordstown said in a filing, referring to its dispute with Foxconn over the investment deal. Their course of conduct has resulted in material — and what is becoming irreparable — harm to the company," Lordstown said in a statement. Lordstown shares, which at one point tumbled more than 50% on Monday, closed down 23%, or 12 cents, at 40 cents, in heavy trading.

☆ Iraq's crude production fell more than 6% in April -source
▼ + stars: | 2023-05-02 | by ( Rowena Edwards | ) www.reuters.com time to read: 1 min

Companies Oil Marketing Company FollowMay 2 (Reuters) - Iraq produced 3.938 million barrels per day (bpd) of crude in April, down 262,000 bpd from March, a source at state-owned crude marketer SOMO told Reuters on Tuesday. This level would mean the country produced almost 500,000 bpd below its April quota under the agreement with the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+. The production decline comes after Turkey halted Iraq's 450,000 bpd of northern exports on March 25 after an arbitration ruling by the International Chamber of Commerce (ICC). The outage has forced the majority of crude oil production in Iraq's semi-autonomous Kurdistan region to be shut in. Reporting by Rowena Edwards; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ ON Semi jumps after results while Nvidia hits 13 month high
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +1 min

May 1 (Reuters) - ON Semiconductor's (ON.O) shares jumped 7% on Monday after the chipmaker's quarterly guidance beat Wall Street's expectations, spurring other chip stocks with heavyweight Nvidia (NVDA.O) hitting its highest level in over a year. The Philadelphia Semiconductor index (.SOX) climbed 0.7%, outperforming the Nasdaq's (.IXIC) 0.1% rise. Nvidia, the world's most valuable chipmaker, climbed 3.5% to its highest since March 2022. Lattice Semiconductor (LSCC.O) rose 1.8% ahead of its quarterly report expected after the bell. The Philadelphia chip index has rebounded nearly 40% from its closing low in October 2022, but is down 25% from its high in 2021.

May 1 (Reuters) - Lordstown Motors (RIDE.O) shares plunged 48% Monday after major shareholder Foxconn alleged it breached their $170 million investment deal and the electric truck maker warned it might be forced to file for bankruptcy. Lordstown warned in a U.S. Securities and Exchange Commission filing on Monday that "there is substantial doubt regarding our ability to continue as a going concern." Without a resolution with Foxconn, other funding or new partners, it could be forced to file for bankruptcy or cease operations, it added. Lordstown shares were trading mid-afternoon at 27 cents, down 25 cents. Lordstown Motors bought a former General Motors Co (GM.N) small car assembly plant and equipment for $20 million in Ohio after the Detroit automaker closed it in March 2019.

☆ Even one American in Iraq is too many, Iran leader tells Iraqi president
▼ + stars: | 2023-04-29 | by ( ) www.reuters.com time to read: +1 min

[1/4] Iraqi President Abdul Latif Rashid and Iranian President Ebrahim Raisi attend a meeting, in Tehran, Iran April 29, 2023. Iran, which has strong ties with Iraq, opposes the U.S. military presence on its borders in Iraq and the Gulf, saying Western military intervention is the root of insecurity in the region. U.S. national security agencies are investigating after a leak of classified documents has suggested the United States spied on allies including Ukraine. "Even the presence of one American in Iraq is too much," Khamenei told Rashid, who was in Tehran with a delegation to boost ties between the two neighbours. The United States has some 2,500 troops in Iraq to help advise and assist local troops in combating Islamic State, which in 2014 seized territory in the country.

☆ Wall St ends higher, posts weekly, monthly gains on solid earnings, Fed pause hopes
▼ + stars: | 2023-04-28 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

All three major U.S. stock indexes advanced, but a drop in Amazon.com (AMZN.O) shares capped the Nasdaq's gains. The pan-European STOXX 600 index (.STOXX) rose 0.56% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.66%. REUTERS/Lucas Jackson/File Photo 1 2 3Emerging market stocks rose 0.50%. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) closed 0.52% higher, while Japan's Nikkei (.N225) rose 1.40%. The dollar index rose 0.13%, with the euro down 0.08% toat $1.1018.

☆ Geely's EV brand Zeekr jumps on the 'gigapress' bandwagon
▼ + stars: | 2023-04-27 | by ( Norihiko Shirouzu | ) www.reuters.com time to read: +5 min

REUTERS/Aly Song/File PhotoApril 27 (Reuters) - Geely's EV brand Zeekr is the latest to join a growing list of automakers that have turned to the "gigapress" die casting technique pioneered by Tesla to slash the cost of electric cars. "In the future, Zeekr will use giga-casting technology on more models," Jiang said. Metal and plastic die casting has long been used in manufacturing, but its application to large aluminium underbodies in carmaking is relatively new. The front and rear sections are then connected with large under-floor battery packs to form a three-piece EV chassis. 'MEGA-CASTING'Other automakers turning to large die casting include General Motors (GM.N), which is using the technology to help design its Cadillac Celestiq electric saloon.

☆ Russia's Yandex reports revenue jump, return to Q1 profitability
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

April 27 (Reuters) - Russian tech giant Yandex (YNDX.O) on Thursday reported a 54% jump in first-quarter revenue to 163.3 billion roubles ($2 billion) and a return to profitability after sliding to a net loss in the same period last year. Since Russia despatched troops to Ukraine in February 2022, Yandex - often dubbed "Russia's Google" - has struggled to balance domestic pressure with the interests of its Western investors. Yandex last year reported a net loss of 8.1 billion roubles in the first quarter of 2022. Alphabet's (GOOGL.O) Google stopped selling online advertising in Russia last March while keeping some free services available, allowing Yandex to gain market share. Yandex said its search and portal market share averaged 63.3% in the quarter, up from 61% a year ago.

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