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☆ Jim Cramer: Costco has room to run despite a rich valuation and shares nearing all-time highs
▼ + stars: | 2024-05-09 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

CNBC's Jim Cramer likes Costco stock despite its high valuation and suggests it has more room to run. "I feel very comfortable" about Costco, Cramer said Thursday on " Squawk on the Street ," after the wholesale retailer reported a solid April sales report. Costco shares rose nearly 1.5% after Wednesday evening's monthly sales report showed core comparable sales, which exclude gas and foreign exchange fluctuations, gained 5.5% last month. Goldman Sachs analysts increased its Costco price target to $840 from $830 and also maintained its buy rating. The Club currently has a 2 rating on Costco shares and a price target of $800.

Persons: CNBC's Jim Cramer, Cramer, FactSet, Wells Fargo, —, Costco's, we're, Goldman Sachs Organizations: Costco, CNBC, Wells, Street, JPMorgan

☆ I've worked at Costco for 18 years. Here are 10 of the best things I'm seeing on the shelves this month.
▼ + stars: | 2024-05-09 | by ( Veronica Thatcher | ) www.businessinsider.com time to read: +1 min

As someone who's worked at Costco for 18 years, I know which items are worth grabbing at the store. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . As someone who's worked at Costco for over 18 years, I'm always on the lookout for the best-value items at the wholesale retailer. Here are 10 things I recommend checking out at Costco in May.

Persons: who's, —, I'm Organizations: Costco, Service

☆ As high-paying jobs become harder to get, more Americans are looking to Uber and Lyft for extra income
▼ + stars: | 2024-05-07 | by ( Jacob Zinkula | Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

Gig work, in particular ride-hailing for companies like Uber and Lyft, is getting more popular. AdvertisementMore and more Americans are taking up gig work for companies like Uber and Lyft — in part because some have fewer options to land high-paying jobs. Additionally, BofA found that people with ride-hailing income earned, on average, more a month than those who did delivery gig work. Vacation rental was the highest-earning gig BofA measured, but this is only accessible to people with a home to rent out. While some young people could value the supplementary income gig work can provide — particularly if they're struggling to pay the bills — others may end up disappointed.

Persons: Uber, —, Lyft, BofA, it's, they've, Kate Bahn, X, Gen, they're Organizations: Service, Bank of America, Bank of America Institute, Bureau of Labor Statistics, Institute for Women's, Research, Atlanta Fed, millennials

☆ Dow futures are little changed after index notches longest winning streak since December: Live updates
▼ + stars: | 2024-05-07 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Dow Jones Industrial Average futures sat near flat Tuesday night after the blue-chip average clinched its longest winning streak since December. S&P 500 futures and Nasdaq 100 futures also both traded near flat. The Dow ticked higher by nearly 0.1% and posted its fifth positive session, which marks its longest winning run going back to December. The S&P 500 also inched up by about 0.1%, while the Nasdaq Composite slipped 0.1%. Nearly 85% of S&P 500 corporations have already shared quarterly results this earnings season.

Persons: Reddit, Dow, Adam Crisafulli, Uber, Philip Jefferson, Susan Collins, Lisa Cook Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Wynn Resorts, Treasury, Disney, Vital, AMC, Traders, Federal, Boston

☆ I only shop for one, but my Costco membership is worth it for 7 reasons — like saving hundreds on gas a year
▼ + stars: | 2024-05-06 | by ( Lori Saitz | ) www.businessinsider.com time to read: +1 min

I've been a Costco member for 25+ years and, for the past five, have been shopping for just myself. Costco has great food deals and I save by buying my electronics and tires there. I'm regularly saving 25 to 30 cents a gallon on gas by going to Costco. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . After all, the wholesale club has 129.5 million membership cardholders , which range from small households to midsize businesses.

Persons: I've, I'm, —, We'd Organizations: Costco, Service Locations: California

☆ Air National Guard leaders say proposal to move units to Space Force poses 'existential threat' to US national security
▼ + stars: | 2024-05-06 | by ( Thomas Novelly | ) www.businessinsider.com time to read: +7 min

The US Air National Guard rebuke a proposal to shift space mission units to the Space Force. "Our internal survey indicates about 70% of our personnel would retrain or retire rather than join the Space Force," Air Force Col. Michael Griesbaum, commander of the Alaska Air National Guard's 168th Wing, told reporters Friday. Airmen from the Colorado Air National Guard load equipment onto a C-17 Globemaster before departing for temporary duty in Washington, DC. AdvertisementBut Air National Guard leaders have expressed concern, saying it would set a clear precedent for other services to potentially take more resources from the National Guard model. "If LP 480 is successful, it will open the door to a wholesale harvesting of National Guard resources, both from the Air National Guard and the Army National Guard to the regular components."

Persons: —, Michael Griesbaum, Chance Johnson, Military.com, Air Force Frank Kendall, Alex Wong, Frank Kendall, We've, Kendall, Griesbaum, Jason Carr, Robert Brown, Jacob Hancock Kendall, Michael Bruno Organizations: US Air National Guard, Space Force, Guardsmen, Service, Air National Guard, Hawaii Air National Guards, Air Force, Space Force Guardians, " Air Force, Alaska Air National, Airmen, Colorado Air National Guard, Tech, National Governors Association, United States Space Force, Rayburn House, Capitol, Getty Images Air Force, Army Guard, National Guard, Army National Guard, United States Space Command, Space Development, Air National Guardsmen, Air Force Staff, Colorado Air National, 233rd Space Group, Department of, National Guardsmen, Florida Air National Guard, Cape Canaveral Space Force, Guard, Brig, Colorado National Guard Locations: Alaska , Colorado, United States, Washington , DC, Niagara Falls , New York, Alaska , California , Colorado , Florida, Hawaii , New York, Ohio, Florida

☆ These Couples Survived a Lot. Then Came Retirement.
▼ + stars: | 2024-05-05 | by ( Susan Dominus | ) www.nytimes.com time to read: +1 min

Barbara and Joe met 13 years ago, two divorced people who had relentlessly climbed their way up from working-class backgrounds. Joe co-founded a delivery business that he sold in 2021 for an amount that meant he would never have to work again; he retired in January last year. Since retirement, she reported, Joe had found himself untethered. Now he also wanted her to look at the funny dog videos that made him laugh, and yes, funny pig videos too. “But I’m going crazy or going back to work, whichever comes first.”

Persons: Barbara, Joe, untethered, “, ”

Berkshire Hathaway Chairman and CEO Warren Buffett on Saturday addressed losses tied to bets on Paramount Global , as well as his reasoning behind slashing the company's Apple stake by 13% . Buffett opined that trimming the company's stake in Apple was in part due to tax reasons after the stock roared in 2023. Coca-Cola, Apple Buffett said Apple and Coca-Cola will remain premier holdings in Berkshire's portfolio. American Express The "Oracle of Omaha" highlighted credit card firm American Express as another favorite, noting the company's growing position in the consumer credit sector. Warren Buffett and Greg Abel during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024.

Persons: Warren Buffett, Buffett, we've, Apple Buffett, BYD Buffett, Charlie Munger, Charlie, BYD, Munger, Cash, Treasurys Buffett, Greg Abel Organizations: Berkshire Hathaway, Paramount Global, Apple, Paramount, Express, American Express, Oracle, American, Costco, Berkshire, CNBC Locations: Omaha, Costco . Berkshire, Omaha , Nebraska

☆ Trump Media stock tumbles as the SEC charges its auditor with 'massive fraud'
▼ + stars: | 2024-05-03 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Trump Media's stock price dropped on Friday after its auditor was accused of "massive fraud." The auditor BF Borgers did not comply with common accounting standards, the SEC said. BF Borgers CPA PC, which audited the financials of Trump Media, had "deliberate and systemic failures to comply" with public company accounting standards, the regulatory agency said. BF Borgers settled the SEC charges by paying a $12 million penalty, while Borgers, the owner, paid a separate $2 million penalty. "Trump Media looks forward to working with auditing partners in accordance with today's SEC order," a spokesperson for TMTG said.

Persons: BF, —, Benjamin Borgers, BF Borgers, Borgers, Ben Borgers, Gurbir Grewal, TMTG Organizations: Trump, SEC, Service, Trump Media, Securities and Exchange Commission Locations: SEC's

☆ Japanese yen: How the currency’s record slump is squeezing the Japanese
▼ + stars: | 2024-05-03 | by ( Juliana Liu | ) edition.cnn.com time to read: +7 min

Higher interest rates in the United States and other countries mean investors can make bigger returns on investments there than they can in Japan. This encourages carry trades, in which investors borrow money in yen to invest it in higher-yielding assets priced in other currencies. That weakens the Japanese currency. A Big Mac costs 50% more in the next cheapest G10 currency, the New Zealand dollar, than it does in yen, he added. … and lots of drawbacksBut the falling yen has caused much pain at home and not just for small businesses like Japan Fraise.

Persons: hasn’t, Hiroko Ishikawa, “ It’s, ” Ishikawa, “, we’re, We’re, Himari Semans, That’s, ” Nigel Green, Kit Juckes, Warren Buffett, ” Sean Callow, ”, Sato Hitomi, Semans, I’ve, —, Laura He, Chris Lau Organizations: Tokyo CNN, US, Reserve, CNN, Nikkei, Bank of Japan, deVere, greenback, Labor, Societe Generale, New Zealand, Japan’s National Tourism Organization, Tokyo’s Locations: Hong Kong, Tokyo, Japan, United States, Sydney, Hawaii

☆ Interest rates and the AI-fueled rally remain top of mind for stock investors in the week ahead
▼ + stars: | 2024-05-03 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

The Fed and economic policy were top of mind this week given the central bank's Wednesday decision to yet again leave interest rates unchanged , as it has since last summer. This week included the conclusion of April's trading month, which marked the first down month of the year for all three major market averages. Indeed, some recent earnings reports have raised doubts about the economy, with brands from McDonald's and Starbucks evidencing signs of strain among consumers. While no new inflation numbers are scheduled for release next week, investors will see reports on March wholesale inventories, March consumer credit and May consumer sentiment from the University of Michigan. AI trade Though interest rates took center stage this week, investors also continued monitoring companies tied to the artificial intelligence boom amid the stocks' recent choppiness.

Persons: they're, Jerome Powell, Larry Tentarelli, David Donabedian, Sam Stovall, There's, Stovall, Tom Hainlin, Tentarelli, CFRA's Stovall, Lyft, Cabot, Aramark, Tempur Sealy, Nikola, Walt Disney, Sally Beauty, Warby Parker, Krispy Kreme, Papa John's Organizations: Federal Reserve, Treasury, Nasdaq, Dow Jones, CIBC Private Wealth, Dow, CFRA, Citigroup, Bank of America, U.S, Bank Wealth Management, University of Michigan, Nvidia, Disney, Spirit Airlines, Tyson Foods, Pharmaceuticals, Lucid, Palantir Technologies, Simon Property, Tech, Lab, Goodyear Tire, Noble Corp, Vornado Realty, Coty, BellRing, Consumer, UBS, BP, Nintendo, Bloomin, Duke Energy, Rockwell Automation, Ferrari, NRG Energy, Electronic Arts, Cirrus, Adaptive Biotech, Arista Networks, Dutch Bros, Holdings, Virgin Galactic, IAC, Rivian Automotive, Brighthouse, Occidental Petroleum, Assurant, Kinross Gold, Labs, Diamond, Reddit, Anheuser, Busch InBev, Embraer, Health, United Parks & Resorts, Emerson Electric, Brookfield , New York Times, Food, Reynolds Consumer Products, Teva Pharma, Uber Technologies, Dine Brands, Liberty Broadband, Fox Corp, Cushman &, Liberty Media, Arm Holdings, Kodiak Gas Services, Solaredge Technologies, AMC Entertainment, Cheesecake, News Corp, Toyota Motors, Fair, US Foods, Hyatt Hotels, Warner Bros, Hilton, Warner Music Group, Unity Software, Insurance, Gen, Honda, AMC Networks Locations: Central, McDonald's, Expeditors, Occidental, Angi, Brookfield , New, Ambev, Cushman & Wakefield, Michigan

☆ Bank of America says this shoe stock is an inflation winner and you should buy it before earnings
▼ + stars: | 2024-05-02 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Footwear company Crocs has strong momentum, making it a solid play for investors ahead of earnings out next week, according to Bank of America. Analyst Christopher Nardone reiterated his buy rating and $150 price target, saying the stock is a winner in a "price-sensitive consumer environment." Nardone expects Crocs' international business, which accounts for 40% of its total sales, to be "the driver of outsized growth" for the quarter and full year. He forecasted total Crocs sales growth of 8% in the first quarter and 6% in the full year. "Nearer term, we think the market will be most focused on signs of improvement in both DTC and margins," for Heydude, Nardone said.

Persons: Crocs, Christopher Nardone, It's, Nardone, Terence Reilly's, Stanley, Steve Madden Organizations: Bank of America Locations: Asia, China, India

☆ Costco members can save $1,000 or more on an EV from GM, Volvo, or Polestar this summer
▼ + stars: | 2024-05-02 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

This summer, the wholesale club is swinging big with $1,000 or more off EVs from four brands. There is one catch though: the deal is only available to people who were Costco members as of April 30. AdvertisementOne of the under-appreciated perks of a Costco membership is big savings on new cars. This summer, Costco is swinging big with $1,000 or more off EVs from four brands. From now until July 31, Costco members can take $1,000 off the price of a Cadillac Lyriq, Chevy Equinox EV, Chevy Blazer EV, Volvo C40 Recharge, or Volvo XC40 Recharge.

Persons: — Organizations: Costco, Service, haggling, EV, Blazer EV, Volvo

☆ Trump gives his strongman’s ambitions free rein on a day off from court
▼ + stars: | 2024-05-01 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

CNN —Donald Trump used his day off from a criminal trial related to a past election to cast a dark, familiar shadow over the next one. Trump cut an unrecognizable figure from the grim ex-president who bleats a daily dirge of complaints about his hush money trial outside Judge Juan Merchan’s court. On specific issues, surveys show Trump leading Biden on most issues including the economy, immigration, and the Israel-Hamas war. “A chilling glimpse into Trump’s second term plansSix months before the election, Trump’s searing campaign rhetoric is becoming less an exercise in performative demagoguery than a blueprint for a potential second term. In the Time interview, Trump comes across as confident and determined to learn the lessons of his first term in which he claims he was let down by “bad” officials.

Persons: Donald Trump, Joe Biden, ”, Trump, bleats, Juan Merchan’s, ” Trump, he’s, Merchan, Joe Biden’s, Biden, Kamala Harris, Roe, Wade, David Axelrod, Barack Obama, Axelrod, CNN’s Erin Burnett, “, Trump’s, doesn’t, he’d, It’s, Eric Cortellessa, ” He’s, quagmire, it’s Organizations: CNN, Milwaukee Journal Sentinel, Capitol, shudder, White, Democratic Party, “, Columbia University, Trump, National Guard, Guard, Republican, ’, ” Locations: Wisconsin, Michigan, Manhattan, America, crackdowns, “, “ New York, North Carolina, Israel, Florida, Freeland , Michigan, Washington, China

☆ What Makes a Society More Resilient? Frequent Hardship.
▼ + stars: | 2024-05-01 | by ( Carl Zimmer | ) www.nytimes.com time to read: +1 min

Traditionally, historians have studied these downturns qualitatively, by diving into the twists and turns of individual societies. In a study published Wednesday, these methods allowed Dr. Riris and his colleagues to answer a profound question: Why are some societies more resilient than others? The study, published in the journal Nature, compared 16 societies scattered across the world, in places like the Yukon and the Australian outback. The more often a society went through them, the more resilient it eventually became. “Over time, you will suffer less, essentially,” said Dr. Riris, an archaeologist at Bournemouth University in England.

Persons: Philip Riris, Riris, ” Organizations: Bournemouth University Locations: Yukon, England

☆ Brexit border checks: Britain braces for less choice and higher prices on food imports
▼ + stars: | 2024-04-30 | by ( Hanna Ziady | Anna Cooban | ) edition.cnn.com time to read: +10 min

The new regime for food imports is perhaps the starkest example of the painful border bureaucracy that UK and EU businesses must contend with in the wake of Brexit. An additional cost of that scale will “significantly increase food prices and reduce choice,” the federation’s CEO Phil Pluck wrote in a letter to environment and food minister Steve Barclay earlier this month. But here too Brexit hasn’t helped, ending as it did the free movement of EU workers on whom British farmers had relied for decades. In addition to Brexit-related challenges, UK farmers have been squeezed by soaring input costs, including those of fertilizer, energy and labor. “I’m not hugely in favor of subsidies, I’m in favor of fair food prices,” Maddocks said.

Persons: Eddie Price, ”, Phil, Steve Barclay, Andrew Aitchison, Andrew Opie, “, Jack Bobo, “ It’s, Price, hasn’t, ” Tom Bradshaw, “ You’re, Chris Ratcliffe, Brexit, ” Philip Maddocks, I’m, ” Maddocks Organizations: London CNN, European Union, EU, Britain, Birmingham Wholesale, CNN, Chain Federation, British Retail Consortium, University of York, Food Systems, University of Nottingham, Birmingham Wholesale Market, Bank, National Farmers ’ Union, Bloomberg, Getty, PDM Locations: United Kingdom, Britain, France, Spain, artichokes, Italy, Birmingham, Dover, Port, Netherlands, Ireland, Germany, North Africa, England, Sandwich, Australia, New Zealand, English, Shropshire

☆ Tuesday's analyst calls: Nvidia to get a boost from new chip, Ralph Lauren poised to jump
▼ + stars: | 2024-04-30 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +9 min

Tuesday's analyst calls focused on red-hot tech giant Nvidia, which is seen as benefitting from the release of its new Blackwell chip, the GB200. 7:02 a.m.: Deutsche Bank sees 33% upside for Live Nation on strong fundamentals Strong fundamentals could spell further upside for shares of Live Nation Entertainment , according to Deutsche Bank. Soff also applauded the company for expanding into new add-on services, including providing upselling opportunities and selling advertising on the Live Nation app. Although a potential regulatory investigation could curtail the stock, Soff doesn't believe that Live Nation stock will ultimately take much damage. 6:03 a.m.: Jefferies initiates Ralph Lauren at a buy, sees momentum with younger consumers Ralph Lauren is shaping up to be a quality growth stock, according to Jefferies.

Persons: Blackwell, Jefferies, Ralph Lauren, Benjamin Soff's, Soff, shouldn't, — Lisa Kailai Han, Airbnb, James Lee, Lee's, headwinds, Brent Thrill, Ashley Helgans, Ralph Lauren's, Helgans, Taylor Swift, Timothy Acuri, Acuri, Hopper, — Lisa Kailai Han — CNBC's Michael Bloom Organizations: CNBC, Nvidia, UBS, Deutsche Bank, Nation, Live Nation Entertainment, Mizuho, Paris, tailwinds, Paris Olympics, Chegg, Blackwell, Microsoft, Oracle Locations: Europe

Eli Lilly — Shares added 5% after Eli Lilly, maker of the Mounjaro diabetes and weight loss drug, beat analysts' expectations for first-quarter adjusted earnings. PayPal — Shares gained 3.6% after the payment company posted $7.70 billion in first-quarter revenue, beating analysts' estimates for $7.51 billion, according to LSEG. The chipmaker posted adjusted earnings of $3.24 per share, higher than the consensus estimate of $3.16 per share, according to LSEG. Earnings of 24 cents per share on $1.37 billion in revenue exceeded consensus forecasts of 11 cents and $1.36 billion, according to FactSet. Adjusted earnings of 71 cents per share topped anticipated earnings of 65 cents per share.

Persons: Eli Lilly —, Eli Lilly, drugmaker, Jefferies, Tesla, Goldman Sachs, Tenet, Corning, FactSet, Sysco, Medifast, Paccar, Bob Bakish, Skydance, Needham, Macheel, Michelle Fox, Yun Li, Lisa Kailai Han, Pia Singh, Sarah Min Organizations: PayPal —, PayPal, Semiconductor, Tenet, FactSet, Technology, GE Healthcare Technologies, LSEG, Taco Bell, KFC, Paramount Global, CBS, Paramount Locations: Indianapolis, China, LSEG, FactSet, Houston

☆ I'm an American who visited Costco in Canada. It may look identical, but it's not the same.
▼ + stars: | 2024-04-30 | by ( Joey Hadden | ) www.businessinsider.com time to read: +1 min

I visited a Costco in Niagara Falls to see how it compared to US locations in 2022. The Costco I visited looked identical to those in the US, but there were a few key differences. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementGrowing up, my parents loved Costco because they could purchase food for our family of four in bulk for low prices. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Costco, Service, Price Club, Business Locations: Canada, Niagara Falls, San Diego

☆ Jim Cramer's favorite investment themes in this rough market and 3 stocks he likes now
▼ + stars: | 2024-04-25 | by ( Paulina Likos | ) www.cnbc.com time to read: +9 min

Here are the responses from Jim Cramer and Director of Portfolio Analysis Jeff Marks. (Gary, Philadelphia) Jim Cramer: Go to Club holding Costco's website and buy gold. When we do see a lot of parabolic moves happening in the market that's usually a sign for us to start raising cash. (Sonny) Jim Cramer: Former President Donald Trump wants more defense. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Jeff Marks, Wells, It's, They're, —, Sonny, Donald Trump, Trump, Joe Biden, James, Johnson, That's, – Alibaba, Eaton, Michael, you've, Anthony, Dupont, Stanley Black, Decker, Eli Lilly –, that's, Nancy, Estee Lauder, they're, Gordon, Cash, Wynn, I'm, it's, Jim Cramer's, Jim Organizations: Investing Club, JPMorgan, Costco, Investing, Abbott Labs, Baidu, PDD Holdings, Bank of America, Nike, Trust, Jim Cramer's Charitable, CNBC Locations: North Carolina, Gary, Philadelphia, , Texas, Bob , Minnesota, Eaton

Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Broadcom : Broadcom's AI business, which includes co-designing custom chips for tech giants such as Club holding Alphabet, is booming. The newspaper reported April 12 that Salesforce was in talks to buy Informatica, which sent the Club holding's shares plunging. Wells Fargo : Another trim is due for our Wells Fargo position after a great run for the bank stock, Jim argued. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Jim, Johnson, Abbott, Andy Jassy, Bausch, Salesforce, Salesforce didn't, Tom Jorden, We've, It's, Walt Disney, Nelson Peltz's, Bob Iger's, Estee Lauder, there's, Eaton, We're, he's, Locker, he'd, Vimal Kapur, Linde, Eli Lilly, Eli Lilly's, TikTok, Joe Biden, Morgan Stanley, Morgan Stanley's, Ted Pick, Jensen Huang, Nikesh Arora, haven't, Laxman Narasimhan, Sands, Stanley Black, Decker, TJ Maxx, TJX, Wells, Jim Cramer, Angela Weiss Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Abbott Laboratories, Johnson, Web Services, Broadcom, VMWare, GE Healthcare, GE, Bausch Health, Costco Wholesale, Costco, Street, Informatica, Coterra, DuPont De Nemours, DuPont, Walt, Disney, Ford, GM, Philips, Siemens, Google, Honeywell, Linde, Facebook, Meta, Microsoft, Nvidia, Investors, AMD, Oregon State University, Palo Alto Networks, UnitedHealth, Procter & Gamble, Constellation Brands, Constellation, Modelo, TJX, Marshalls, Home Goods, Wynn Resorts, Jim Cramer's Charitable, New York Stock Exchange, Afp, Getty Locations: China, Informatica, Ford, Estee, U.S, mater, Palo, Corona, Wells Fargo, Wells, Macao, New York City

☆ Meet the typical new entrepreneur: A young woman living in the South who's doing it as a side hustle
▼ + stars: | 2024-04-24 | by ( Jacob Zinkula | Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

The newest entrepreneurs are both young and old and looking to grow their wealth through their businesses. The share of new Hispanic entrepreneurs rose from 8% in 2022 to 13% in 2023, Gusto found. Many new entrepreneurs are open to using AI tools and hiring remote workers, per the Gusto survey. The share of entrepreneurs who started a business while juggling another gig rose from 27% in 2022 to 44% in 2023. The Babson report found that most US entrepreneurs, 71%, were motivated by the prospect of boosting their wealth through their businesses.

Persons: They're, —, Ewing Marion, Luke Pardue, Babson, Entrepreneurship isn't Organizations: Service, Bureau of Labor Statistics, Babson College, Midwest Women, Pew Research Center, Ewing Marion Kauffman Foundation, Bureau, Kauffman Foundation, Entrepreneurs, Business Administration, Entrepreneurship Locations: Midwest, New Hampshire, Minnesota, Montana, Northeast, West

☆ Costco shoppers are finding it's harder to sell gold than to buy it
▼ + stars: | 2024-04-23 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Read previewWhenever Costco releases a batch of gold bars for sale, the supply sells out "within a few hours" as shoppers snap up the precious metal for a small markup over its spot price. The out-of-stock notices give the allure of a hard-to-get item, but the wholesale club is still moving a lot of gold bars and silver coins — to the estimated tune of $200 million a month. This story is available exclusively to Business Insider subscribers. Unlike cash or even gift cards, Costco classifies gold bars as collectibles, which may or may not retain their value over time. AdvertisementFor that matter, the Internal Revenue Service also considers gold bars as a collectible too, and demands as much as a 28% cut of any profits on gold held for more than one year.

Persons: —, Lark Mason, Adam Xi, it's Organizations: Service, Costco, Business, Street Journal, Internal Revenue Service Locations: New York

☆ Buy this little-known Brazilian wholesale retailer with nearly 30% upside, JPMorgan says
▼ + stars: | 2024-04-23 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

JPMorgan thinks Assaí Atacadista, one of the largest retailers in Brazil, is a strong investment play as the company begins to reflect better operating trends. Analyst Joseph Giordano upgraded Assaí, a Brazilian self-service wholesale company with almost 300 stores that trades on the New York Stock Exchange, to overweight from neutral. JPMorgan also raised its price target by $2.50 to $17.50, implying upside of almost 30% over the next year. "We revisit our views on the Brazilian cash & carry space ahead of 1Q24 results," Giordano wrote in a note Tuesday. A more flexible balance sheet would enable Assaí to take advantage of the fact that major competitors are not opening new stores, he said.

Persons: Assaí Atacadista, Joseph Giordano, Giordano, Atacadão, Assaí Organizations: JPMorgan, New York Stock Exchange Locations: Brazil, Brazilian, U.S

☆ Couple grew their basement side hustle into a business bringing in $4.5M/year: We'd 'never seen anything like that in a bank account'
▼ + stars: | 2024-04-22 | by ( Annie Probert | ) www.cnbc.com time to read: +4 min

They built the wooden cart with bicycle tires and a kickstand in her parents' basement in 2016, maxing out her credit card's $1,500 limit to afford materials, and called it The Nitro Cart. That summer, they took it to any event that would take them, from sheep shearing events to farmers markets across Rhode Island, serving small batches of nitrogen-infused cold brew. To survive the winter, they partnered with local restaurants to install their nitro cold brew on tap. Here's how they built The Nitro Bar, from 80-hour workweeks to some TikTok virality and a lot of luck. They both worked "insane hours, usually seven days a week" to turn their cart into The Nitro Bar, says Finocchiaro.

Persons: Audrey Finocchiaro, Sam Lancaster, maxing, Sam, Lancaster, Finocchiaro, —, they'd, it's, it'll Organizations: Brown University, CNBC, Finocchiaro Locations: Rhode Island, Rhode Island and Massachusetts, Lancaster

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