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Here's how Wall Street analysts are reacting to Alphabet's third-quarter earnings report. But soft guidance for Meta's fourth-quarter revenue, sparked by the Israel-Gaza war, could be contributing to the sell-off in the stock. Most Wall Street analysts view Thursday's decline in Meta stock as a buy the dip opportunity. Here's what they're saying:William Blair: "AI advancement driving engagement across the organization"Meta's work in artificial intelligence is encouraging to analyst Ralph Schackart at William Blair, who said in a Wednesday note that "AI advancement [is] driving engagement across the organization." AdvertisementAdvertisementMeta's AI tools for advertisers are also showing meaningful growth, with its Advantage Plus shopping campaigns scaling to a $10 billion revenue run rate.
Persons: WhatsApp, , Meta, Susan Li, William Blair, Ralph Schackart, Schackart, Goldman Sachs, Eric Sheridan, Sheridan, Doug Anmuth, Anmuth Organizations: Facebook, Service, JPMorgan, Meta Locations: Israel, Gaza, Asia
A Foxconn shareholder poses for photos after the annual shareholder meeting in New Taipei City, Taiwan May 31, 2023. REUTERS/Ann Wang Acquire Licensing RightsBEIJING, Oct 25 (Reuters) - Taiwanese companies should assume their social responsibilities and play a "positive role" in promoting the peaceful development of relations across the Taiwan Strait, China's government said on Wednesday, amid a probe into major Apple supplier Foxconn. "While sharing development benefits and growth dividends on the mainland and achieving rapid development, Taiwan enterprises should also assume corresponding social responsibilities and play a positive role in promoting the peaceful development of cross-Straits relations." China believes Lai, who is leading opinion polls, is a separatist bent on a formal declaration of independence. "As pointed out by the media on the island, Lai Ching-te has now changing from a Taiwan independence maniac to a Taiwan independence liar," she said.
Persons: Ann Wang, Zhu Fenglian, Zhu, Lai Ching, Democratic Progressive Party's, Lai, Ben Blanchard, Jacqueline Wong, Lincoln Organizations: REUTERS, Rights, Apple, Global Times, Taiwan Affairs Office, Taiwan, Democratic Progressive, Beijing, Thomson Locations: New Taipei City, Taiwan, Rights BEIJING, Taiwan Strait, China, Beijing
Is a Financial Advisor Worth It?
  + stars: | 2023-10-24 | by ( Bernice Napach | ) www.wsj.com   time to read: +12 min
The right financial advisor can help you find the right answers to your life’s biggest, most difficult financial decisions. A one-time feeIf all you need is a comprehensive financial plan—a look at how your current savings, including your 401(k) and investments stack up—you don’t need to retain a financial advisor. When a financial advisor may be worth the costA financial advisor is worth paying for if they provide help you need, whether because you don’t have the time or financial acumen or you simply don’t want to deal with your finances. You want reassurancePlenty of investors work with a financial advisor for less tangible reasons too. ”It’s important that you get quality fiduciary advice on all those subjects because they’re irrevocable.”When a financial advisor probably isn’t worth the costThere are several financial areas where paying for a financial advisor may not be worth the cost, especially if you are willing to do a little basic research and have the discipline to stick to your goals.
Persons: Bernice Napach, , Rick Ferri, Read, it’s, that’s, won’t, Fee, Micah Hauptman, Peter Palion, , “ They’re, ” Sheryl Garrett, Eric Amzalag Organizations: Vanguard, Ferri Investment Solutions, Investment, Consumer, Consumer Federation of America, IRS, Advisors, Garrett Planning Network, Peak Financial Locations: Georgetown , Texas, East Norwich, N.Y, Los Angeles
Brian Armstrong, CEO of Coinbase, slammed the U.S. Securities and Exchange Commission. He also said the cryptocurrency exchange is looking to invest more outside of the U.S.Shares of cryptocurrency exchange Coinbase rose about 7% Tuesday afternoon as optimism about a long-awaited bitcoin spot ETF approval buoyed the stock. It could be a turning point for the company, which has been sparring with the Securities and Exchange Commission in Manhattan federal court. Grayscale saw a victory formalized in federal appeals court Monday, when a judge's mandate that the SEC review the company's Bitcoin ETF proposal took effect. The company is one of the largest crypto custodians and has been tapped by a host of prospective ETFs, including BlackRock's proposed Bitcoin ETF, in that capacity.
Persons: Brian Armstrong, BlackRock's Organizations: U.S . Securities, Exchange Commission, U.S, Securities and Exchange Commission, SEC Locations: Manhattan
GOOGL YTD mountain Alphabet YTD Bottom line Lower-than-expected operating income for the third quarter and a Google Cloud miss dragged Alphabet shares lower by more than 6% in after-hours trading. The Google Cloud performance was particularly disappointing given the strength we saw when Microsoft (MSFT) also reported its Azure numbers on Tuesday evening. Quarterly commentary Despite the topline outperformance, seen in the earnings table above, segment sales at Google Network, Google Cloud and Other Bets came up short. Operating income and quarterly operating margin were also short of expectations as total Traffic Acquisition Costs (TAC) were marginally above expectations. Expenses in Google Cloud and Other Bets were higher than expected, and the company took charges associated with workforce and office space reductions.
Persons: Wall, Jim Cramer's, Jim Cramer, Jim, Leonardo Munoz Organizations: Google, LSEG, Microsoft, Google Services, Management, Google Network, YouTube, NFL, TAC, Capital, CNBC, View, Getty Locations: New York City
In 2019, after years of investing in and setting up food and beverage brands internationally, she founded dark-kitchen startup Kbox from London. But two years after this funding, large for an early-stage European startup, Vellani exited the business suddenly, citing health issues. "You're only judged on food quality, but if the chef is doing 10 times the work for same money, then it's a fundamental problem." Both Uber Eats and Deliveroo, after an initial burst of interest, would eventually go on to cut back on virtual brands. In an email comment, Vellani acknowledged her lack of direct technical experience but said she sought to fix this through other C-suite hires.
Persons: Salima Vellani, Uber, Travis Kalanick, Vellani, Butler, CloudKitchens, Kbox, MrBeast Burger, YouTuber MrBeast, Jimmy Donaldson, Influencer Jimmy Donaldson, Burger, Brexit, Vellani didn't, Karim Vellani, Karim, Ben Schultz, Nick Holloway, I've Organizations: Balderton, Hoxton Ventures, Reef Technologies, Lean, Network, United, Advisory Locations: London, Saudi, Revolut, COVID, Kbox, Sydney
Ctrl Alt, a fintech startup that offers infrastructure to invest in alternative assets, has raised $2.7 million in a seed round. For fintech startups that offer wealth management and investment products, alternatives could provide new opportunities to make revenues from wider yield spreads, Ong said. "The market is tough for fundraising and that has an impact on you as a founder," Ong added. The fresh capital will go towards building out Ctrl Alt's tech team and expanding its relationships with prospective customers. Check out Ctrl Alt's 10-slide seed funding deck below:
Persons: Morgan Stanley, Matt Ong, it's, Ong Organizations: Forward Partners, Middlegame Ventures, Enterprise Ireland, Algorand Ventures, Syndicate Locations: London, fintech
Hong Kong CNN —Taiwan’s Foxconn, one of Apple’s largest suppliers, is being investigated by authorities in China, according to state media. Foxconn, also known as Hon Hai Precision Industry, has iPhone factories in Guangdong and Henan, including the world’s largest in the city of Zhengzhou. The company’s listed unit in Shanghai, Foxconn Industrial Internet, plummeted by its daily limit of 10% on Monday. Terry Gou, Foxconn founder, announces bid for Taiwan presidency during a press event in Taipei on August 28. The crackdown came despite repeated calls from Chinese leaders to welcome more foreign investment to boost the country’s slowing economy.
Persons: Taiwan’s, Terry Gou, won’t, Foxconn, , , Brock Silvers, Gou, Hai, ” Gou, Ann Wang, Lai Ching, — Hou Yu, Ko Wen, Zhang Wensheng, ” Zhang, Silvers Organizations: Hong Kong CNN, Global Times, CNN, Hai Precision Industry, Foxconn Technology, WPP, drugmaker Astellas Pharma, Kaiyuan, , Apple, Communist, Taiwan, Democratic People’s Party, ih, Kuomintang, Taiwan People’s Party, Beijing, China’s Xiamen University, Financial Times, Shanghai, Economic Observer Locations: China, Hong Kong, Beijing, Guangdong, Jiangsu, Henan, Hubei, Zhengzhou, Shanghai, Taipei, Taiwan
REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsOct 23 (Reuters) - Jason Andringa’s company was part of the stampede of U.S. businesses that built factories in China. But the mood of Vermeer and many other global producers has turned sour on China. Rather than expand in China, these companies are directing new investments to other low-cost countries such as Vietnam and India. Ryan Gunnigle, CEO of Atlanta-based toy maker Kids2, said he is continuing to invest in his China factories, adding both automation and new capacity. The CEO of Danby Appliances, a Canadian company that sells over half of its products in the U.S., got 85% of its goods from Chinese factories five years ago.
Persons: Lucy Nicholson, Jason Andringa’s, Vermeer, Biden, Joe Biden, Xi Jinping, Gina Raimondo, Matt Dollard, Ryan Gunnigle, Kids2, Jim Estill, He’s, Danby, Timothy Aeppel, Anna Driver Organizations: Port, REUTERS, U.S ., U.S, Nvidia, Wall Street, U.S . Bureau, China Business Council, Reuters, Asia Pacific Economic Cooperation, Trump, RSM US, Appliances, Thomson Locations: Port of Long Beach, Port of Los Angeles, Los Angeles , California, U.S, China . Iowa, China, Mexico, Asia, San Francisco, Beijing, Washington, Taiwan, Vietnam, India, Atlanta, Canadian, Turkey, Canada
Five Investors on Investing in the 5% World
  + stars: | 2023-10-20 | by ( Eric Wallerstein | ) www.wsj.com   time to read: 1 min
Why invest in U.S. stocks when the safest investment in the world—U. S. government debt—pays the most it has since 2007? That is the new question facing investors now that the yield on the 10-year Treasury note is approaching 5%. Rock-bottom interest rates and record money-printing from the Federal Reserve shifted the picture of what successful investing looked like since the 2008 financial crisis. Roughly 15 years of nearly free cash spurred a tech boom, exponential gains by venture capitalists, and an investing mania tied to digital tokens and stocks on the brink of bankruptcy.
Persons: Organizations: Federal Reserve
Elon Musk, chief executive officer of SpaceX and Tesla, and owner of X. formerly known as Twitter. Tesla shares dropped more than 15% over the last few days to close the week at $211.99 after CEO Elon Musk waxed pessimistic about macroeconomic issues on a third-quarter earnings call Wednesday. It marks the worst week for Tesla stock of the year, although shares of the electric automaker are still up 96% year-to-date. For the period ending Sept. 30, 2023, Tesla reported $23.35 billion in revenue and $1.85 billion in profits, a decline versus the prior quarter. His forecast still implies more than a 56% upside in a note out after the Q3 Tesla call.
Persons: Elon Musk, Tesla, Musk, Didi, it's, Vaibhav Taneja, We've, Wells, Colin Langan, Morgan Stanley's Adam Jonas, Jonas, Toni Sacconaghi, Bernstein Organizations: SpaceX, Tesla, CNBC Pro Locations: U.S, China
But with 10-year Treasury yields surging to 5% - a 16-year high , many investors might now be tempted to lock in those high yields and buy into bonds. "You may not see such high yields as these in the next year or two," he told CNBC's " Squawk Box Asia " on Thursday. Bond prices and bond yields move in opposite directions. It's unfavorable on U.S. intermediate-term fixed income, as well as high yield taxable fixed income. Types of fixed income that it's overweight on include short-term U.S. Treasurys, U.S. inflation-linked bonds, U.K. gilts and emerging market bonds.
Persons: Wells, Paul Christopher, CNBC's, Christopher, Wells Fargo, Thomas Poullaouec, Rowe Price, Wells Fargo's Scott Wren, Bryn Jones, Rathbones, there's, Jones, He's, BlackRock Organizations: Investment, U.S, gilts, BlackRock Investment, U.S . Federal Reserve, Treasurys Locations: Asia, Pacific
Investors shouldn't be scared off by slower economic growth caused by higher-for-longer interest rates and inflation, according to JPMorgan Asset Management (JPMAM). For reference, JPMAM called for forward long-term returns of 4.3% in 2021. The firm added that productivity gains from AI will likely add a tenth of a percentage point to global growth in the next decade. The long-awaited reversal for international stocks won't happen overnight, JPMAM strategists said. The firm is highly optimistic about the asset class after its brutal multi-year selloff and expects 4.6% and 5.1% long-term returns for those groups, respectively.
Persons: it's, JPMAM, David Kelly, Kelly, Monica Issar, Grace Koo, , they're, Bob Michele, who's, he's, Bonds, REITs Organizations: Asset Management, Federal Reserve, European Central Bank, US, JPMorgan, Management, Fed, JPMorgan Asset Management, Investors Locations: Europe, Australasia, Real
To Burt, the viral TikTok trend #girlmath reiterates the stereotype that women are bad at math. But often it's more overt, as with TikTok's most recent viral trend: "girl math." AdvertisementAdvertisementWhy girl math is a negative trendSeemingly lighthearted, the hashtag plays into a damaging stereotype that women are bad at math. Girl math doubles down on gendering lavish spendingThe #girlmath trend focuses on "feminine" spending habits as lavish — another common stereotype of women and money management. Women's financial literacy is an important issueThe girl-math trend brings women's financial literacy and investing into the limelight.
Persons: Zoe Burt, Burt, , Caroline Criado Perez, Tamina, Shakuntala Devi, Elon Organizations: Service, Evening, New Zealand, Fiscal Studies, Guardian, Behavior, Organization, Fidelity, Twitter, Invest, deVere Italia
New York CNN —Growing unrest in the Middle East has cast a shadow on global financial markets. Israeli stocks listed in New York and Tel Aviv have sunk to recent lows, underscoring the growing economic uncertainties in the war-torn region and leaving investors unsure of where markets go from here. Funds in the US hold more than $43 billion in Israeli stocks and bonds, according to a Bloomberg tracker. Big names, big exposure: As the war continues, businesses with headquarters, factories and inventory in Israel appear increasingly at risk to geopolitical turmoil. “If the war remains confined between Israel and Palestinians, it’s likely that the markets will forget about it after a few days,” he wrote.
Persons: , Steven Schoenfeld, Jamie Dimon, , Benjamin Netanyahu, Raffi Boyadjian, Sam Stovall, Nathaniel Meyersohn, drugstores, David Silverman, Bill Ford, Vanessa Yurkevich, Ford, Jim Farley, Shawn Fain Organizations: CNN Business, Bell, New York CNN, Nasdaq, Funds, Bloomberg, Hamas, Bank of Israel, JPMorgan, Israel Innovative Technology, Mobileye, Tower Semiconductor, Teva Pharmaceutical, XM, CVS, Walgreens, Walmart, Fitch, Ford Motor Company, United Auto Workers, Big Three, UAW, Monday, Ford Locations: New York, Tel Aviv, New Jersey, Israel, United States, Canada, China, Ukraine, Kippur, Kuwait, Kansas City, drugstores, Rouge, Dearborn , Michigan
How to Prepare Every Part of Your Life for a Recession
  + stars: | 2023-10-16 | by ( Tanza Loudenback | ) www.wsj.com   time to read: +13 min
But a recession brings other threats too, like the potential for major stock market swings that can derail financial goals. As soon as the line begins to tick upward again, the economy exits a recession and enters an expansion. Are we in a recession or is a recession coming? How to preparePreparing your finances for a recession isn’t all that different from practicing good money habits in your daily life. You’ll likely have to make some real-time adjustments to meet short-term goals while enduring a recession, McCoy says.
Persons: Loudenback, it’s, , Ross Hamilton, Raymond James, you’ve, Hamilton, aren’t, “ You’ve, Eric Roberge, ” Roberge, Megan McCoy, , ’ ”, McCoy, You’ll, ” Hamilton, you’re, “ There’s, there’s, ” McCoy, Roberge, ‘ I’ve Organizations: Wall Street, National Bureau of Economic Research, Kansas State University Locations: U.S, Bethesda, Md, Boston, Hamilton
Gen Z faces unique financial challenges compared to older generations. watch nowHigh inflation — and affordability concerns among Gen Zers — extend beyond U.S. borders. Yet, they show less confidence when it comes to saving for retirement or investing in the stock market, the results found. Experts say these three tips can help members of Gen Z learn to manage their money wisely. Make saving a habitUte Grabowsky | Photothek | Getty ImagesMore than half of Gen Z, 56%, do not have enough emergency savings to cover three months' worth of expenses, Bank of America's survey found.
Persons: Martin, Gen Zers, Gen, Gen Z, Douglas Boneparth, Boneparth, It's, it's, Barkley, Young, Roth Organizations: College, Deloitte, Bank of, Bone, CNBC, Experts, Photothek, Getty Locations: U.S, New York
The message was that a tie-up with Millennium was a 50-50 proposition and that any agreement would be contingent on Schonfeld remaining independent. Other strategic investors in the mix include Blackstone, GIC, and Future Fund, an Australian sovereign wealth vehicle that's already a significant Schonfeld investor. Schonfeld's assets have dipped this year amid meager returns, and the fund has cut costs and slowed hiring in recent months. But fundraising from cautious institutional investors is time-consuming, and Millennium chief trading officer Mark Meskin contacted Schonfeld's leadership to discuss a potential tie-up, sources say. Schonfeld, industry sources say, was likely under pressure from existing investors, who have had to bear a higher brunt of the fees following redemptions.
Persons: Izzy Englander, Justin Gmelich, Ryan Tolkin, Schonfeld, Steve Schonfeld's, Mark Meskin, Schonfeld's, Organizations: Financial Times, Millennium, Schonfeld, Tolkin, Abu, Abu Dhabi Investment Authority, year's, Future Fund Locations: Manhattan, Millennium's, Abu Dhabi, Schonfeld
MARRAKECH, Morocco, Oct 12 (Reuters) - World Bank shareholders on Thursday endorsed further reforms and a new vision statement committing the multilateral development bank to work for "a world free of poverty on a liveable planet," German Development Minister Svenja Schulze said. "With the reform, we will make the World Bank into a better bank that uses its funds in a more targeted way," she said. "The World Bank will be able to provide more funds for poverty reduction and climate action." The World Bank would begin piloting this option for small states that are particularly affected by climate change, she said. Schulze said the bank's shareholders would push on to enact reforms and improvements at other development banks.
Persons: Svenja Schulze, Schulze, Ajay Banga, Banga, Andrea Shalal, Andrew Cawthorne, Jan Harvey, Mark Porter Organizations: World Bank, IMF, International Monetary Fund, Bank, MasterCard, Thomson Locations: MARRAKECH, Morocco, United States, Germany, France, Canada, Netherlands
How to Invest in Mutual Funds
  + stars: | 2023-10-11 | by ( Mallika Mitra | ) www.wsj.com   time to read: +20 min
Mutual funds are relatively cheap and simple to invest in, thanks to the many trading apps and online brokerages available nowadays. To get started, read on for our 10-step guide on how to invest in mutual funds. Once you open an account, you can invest in a wide range of securities, like stocks, bonds and mutual funds. Buy mutual fund sharesNow that you’ve solidified your strategy and done your research, you are almost ready to buy mutual funds. How to buy mutual fund sharesSome mutual funds require an investment minimum, often between $500 and $3,000, but not all do.
Persons: Mallika Mitra, Tricia Rosen, , Rosen, , Ameritrade, Roth, Roth IRAs, Uncle Sam, you’ve, Randy Bruns, it’s, Morningstar, Russell, hasn’t, Amy Arnott, John Bogle, Morningstar’s Arnott, pitfall Arnott, You’ll, you’ll, Don’t, Sam, haven’t Organizations: Mutual, Fidelity, Vanguard, Morningstar, SEC, Apple, Fidelity Investments Fidelity, Target, Walmart, Funds, Capital Group, Capital Group’s, The Securities, Exchange Commission, Social, Consumer, Morgan, Capital Locations: Andover, Mass, Naperville , Illinois, U.S
These money market funds have yields that top 5%
  + stars: | 2023-10-11 | by ( Michelle Fox | ) www.cnbc.com   time to read: +4 min
With yields at around 5%, money market funds have been attracting investors in droves — yet not all funds are the same. Right now, prime funds yield an average 5.18%, while the average government fund's yield is 4.98%, per iMoneyNet. The weighted average maturity of retail prime money market funds is around 32 days, said Shelly Antoniewicz, deputy chief economist at the Investment Company Institute. Correction: A table in an earlier version of this report incorrectly described the listed funds as government money market funds. They are prime money market funds.
Persons: Dave Lafferty, Deborah Cunningham, Shelly Antoniewicz, Hermes, Cunningham, Crane, Peter Crane Organizations: Crane Data, Schwab Asset Management, Federated Hermes, Investment Company Institute . Retail, Federal Reserve, ICI, Government, Fed
Britain's Labour Party Leader Keir Starmer addresses the start of the National Annual Women's Conference, ahead of the start of Britain's Labour Party annual conference, in Liverpool, Britain, October 7, 2023. REUTERS/Phil Noble Acquire Licensing RightsLIVERPOOL, England, Oct 9 (Reuters) - Labour leader Keir Starmer will appeal directly to British voters on Tuesday, saying his revamped opposition party is best placed to boost economic growth and offer the country the hope that "things will be better for your children". Aides say Starmer knows he must try to convey a sense of reassurance that Labour can get to work on fixing a multitude of problems from poor public services to sluggish growth. "What is broken can be repaired, what is ruined can be rebuilt," he will tell hundreds of the party faithful at the conference in the northern English city of Liverpool. "We have to be a government that takes care of the big questions so working people have the freedom to enjoy what they love," he will say.
Persons: Keir Starmer, Phil Noble, Starmer, Jeremy Corbyn, Elizabeth Piper, Gareth Jones 私 Organizations: Britain's Labour, Britain's Labour Party, REUTERS, Rights, Labour, Health Service Locations: Liverpool, Britain, Rights LIVERPOOL, England, English, Scotland
Saudi oil giant Aramco on Monday announced a partnership with Siemens Energy AG to develop a small-scale direct air-capture "test unit" in an attempt to manage emissions. The test unit will be built in Dhahran, Saudi Arabia and finished in 2024, according to a statement from Aramco on Monday. The DAC collaboration between Aramco and Siemens Energy is still in early phases. Given DAC's adolescence, both oil companies are invested in other clean energy technology projects. The spokesperson for Siemens Energy said that the company has invested in hydrogen, wind, nuclear fusion and others.
Persons: Jonathan Foley, Foley, Cara Horowitz Organizations: Saudi Aramco, Monday, Siemens Energy AG, Aramco, International Energy Agency, Amazon, Frontier, UCLA's, DAC, Siemens Energy, CNBC Locations: Saudi, Aramco, Dhahran, Saudi Arabia
Liz Wessel has heard more than her fair share of startup pitches in her career as a founder. Now, Wessel is fulfilling that desire to invest and advise founders full-time, by joining the early-stage venture capital firm First Round Capital as the team's newest investment partner. Wessel had met many of the partners at First Round Capital while she was still the CEO of WayUp. She shared that Y Combinator's managing director Michael Seibel counseled her directly on her decision to jump into venture investing full-time. And given the increasingly tenuous state of the seed market, she'll be looking for startup founders that are particularly knowledgable about their customer base and have "strong business fundamentals," she said.
Persons: Liz Wessel, Wessel, WayUp, JJ Fliegelman, Fliegelman, Michael Seibel, Combinator, she's Organizations: WayUp, Yello, Google, First, YC
Oct 4 (Reuters) - Headway, a healthcare tech startup that connects patients and in-network therapists, has raised $125 million in Series C funding, the company told Reuters. Insurance company Health Care Service Corporation also joined the round. Based in New York, Headway's platform connects patients with therapists and psychiatrists who can provide care covered by insurance. The company makes money by taking a cut of the payments that therapists on its platform receive from insurance companies. The pandemic prompted more people to turn to mental health services to deal with stress and burnout.
Persons: Andreessen Horowitz, Andrew Adams, We've, Adams, Will Reed, Krystal Hu, Tom Hogue Organizations: Reuters, Spark Capital, Accel, Andreessen Horowitz . Insurance, Health Care Service Corporation, Thomson Locations: New York, U.S, San Francisco
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