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☆ Here are Monday's biggest analyst calls: Netflix, Nvidia, Apple, Meta, Lowe's, Walmart, Target, Pepsi & more
▼ + stars: | 2024-02-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

JPMorgan upgrades Lowe's to overweight from neutral JPMorgan said investors should buy the stock ahead of earnings later this month. JPMorgan reiterates Netflix as overweight JPMorgan said it's standing by its overweight rating on shares of Netflix. Loop reiterates Meta as buy Loop raised its price target on the stock to $550 per share from $440. Loop reiterates Alphabet as hold Loop raised its price target on the stock to $155 per share from $140. " UBS reiterates Target as buy UBS says Target shares are "compelling."

Persons: Evercore, it's, wouldn't, Rivian, Piper Sandler, Piper, Jefferies, Willis Towers Watson, URBN, Morgan Stanley downgrades Hershey, Morgan Stanley, Morgan Stanley downgrades XPO, Stifel, Raymond James downgrades, Raymond James, Melius, Roth, Guggenheimer, Guggenheim Organizations: Apple, Barclays, Walmart, EV, JPMorgan, generics, UFC, WWE, Netflix, Citi, Willis, PepsiCo, PEP, LT, UBS, Urban Outfitters, Google, 4Q, Bulls, Target, Bank of America, of America, Bank of America downgrades Duke Energy, Duke Energy, Brands, Nvidia, Deutsche Bank, Industries, Deutsche, SilverBow Resources Locations: U.S, Bank of America downgrades, NWL, Republic, Mohawk

☆ Fiefdoms, 'orphan problems' and too many emails — just some of the most common workplace 'frictions'
▼ + stars: | 2024-02-10 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Two Stanford professors lay out common workplace challenges in their new book titled "The Friction Project." Coauthor Robert Sutton outlines five of those "frictions." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Using examples such as Apple and Microsoft, coauthor Robert Sutton laid out five examples of friction in workplaces in an interview with Business Insider. Advertisement"A lot of organizations create incentives for building fiefdoms independent of the value of the fiefdoms," Sutton says, meaning people are rewarded for running large teams even if they don't deliver.

Persons: Robert Sutton, —, Huggy Rao, It's, Sutton, Kim Scott, Satya Nadella, Steve Ballmer, Ethan Miller, Warren Buffett, Charlie Munger Organizations: Stanford, Service, Apple, Microsoft, Business, Google, Big Tech, Getty Locations: Cupertino , California

☆ DNC alleges RFK Jr. campaign illegally coordinated with outside group on signature gathering operation
▼ + stars: | 2024-02-09 | by ( Aaron Pellish | David Wright | ) edition.cnn.com time to read: +6 min

Kennedy has stated that his goal is to appear on the ballot in all 50 states and DC,” the DNC wrote. But the complaint argues that coordination is required for the ballot access efforts by American Values and Team Kennedy, and thereby the group’s support runs afoul of campaign finance laws. Kennedy campaign manager Amaryllis Fox Kennedy denied coordinating with the outside group in a statement to CNN. In the complaint, the DNC alleges the PAC “must coordinate” with the Kennedy campaign to successfully operate its supplemental signature gathering operation. It’s pretty clear that Trump and his mega donors are propping up RFK Jr. as a stalking horse,” DNC adviser Ramsey Reid said.

Persons: Robert F, Kennedy Jr, ’, Kennedy, “, “ Mr, ” Kennedy, —, ”, Amaryllis Fox Kennedy, Tony Lyons, Bobby Kennedy, ” Lyons, Jr, ” Deirdre Goldfarb, Donald Trump, Tim Mellon, Donald Trump’s, Lis Smith, ” Mellon, “ We’re, Trump, Ramsey Reid Organizations: CNN, Democratic National Committee, White, DNC, ”, American, PAC, Trump, Republican, RFK, America, GOP, RFK Jr Locations: United States, Michigan , Arizona, Georgia

“We expect stringent government oversight of our mining-to-reclamation project, which will be fully protective of the Okefenokee Wildlife Refuge and the region’s environment,” Ingle said in a statement. The swamp’s wildlife, cypress forests and flooded prairies draw roughly 600,000 visitors each year, according to the U.S. Despite efforts by President Joe Biden to restore federal oversight, the Army Corps entered a legal agreement with Twin Pines to maintain its hands-off position. The mining project is moving forward as the National Park Service seeks designation of the Okefenokee wildlife refuge as a UNESCO World Heritage site. Twin Pines denied wrongdoing, but said it agreed to the fine to avoid further permitting delays.

Persons: Deb Haaland, Josh Marks, “, Steve Ingle, ” Ingle, C, Rhett Jackson, Donald Trump, Joe Biden, Ben Prater, EPD Organizations: Georgia Environmental, Twin, Twin Pines Minerals, Refuge, Georgia -, Twin Pines, U.S . Fish, Wildlife Service, and Wildlife Service, University of Georgia, ., Army Corps of Engineers, Army Corps, National Park Service, UNESCO, of Wildlife Locations: SAVANNAH, Ga, Georgia, Twin Pines, Birmingham , Alabama, Mississippi, Georgia - Florida, Atlanta, Twin, blackwater

“What do you do with the – what would seem to me to be – the plain consequences of your position?" Chief Justice John Roberts asked attorney Jason Murray, who argued on behalf of the Colorado voters who brought the lawsuit. “The reason we’re here is because Donald Trump tried to disenfranchise 80 million voters,” he said. The Colorado Supreme Court agreed, ruling that Trump's conduct amounted to engaging in "insurrection" in violation of Section 3. But it is not the last time the Supreme Court will be called upon to settle questions with an outsized impact on the 2024 election.

Persons: Donald Trump, Trump, John Roberts, Jason Murray, Roberts, you’re, That’s, ”, Brett Kavanaugh, Murray, Elena Kagan, Kagan, Ketanji Brown Jackson, Kavanaugh, ” Jackson Organizations: Republican, Colorado voters, Democratic, Donald Trump View, Trump, Coloradans, Citizens, GOP, Capitol, The, The Colorado Supreme Locations: Colorado, United States, Washington, The Colorado

☆ Spirit Airlines narrows loss to $184 million, says it's on the path back to profitability
▼ + stars: | 2024-02-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Spirit Airlines ' fourth-quarter loss narrowed to nearly $184 million, but its CEO said the carrier is on a path back to profitability and that the domestic air travel market is improving. Spirit still expects to lose money in the first quarter, however, and said it expects revenue of between $1.25 billion and $1.28 billion, above analysts' forecasts. The carrier plans for 2024 capacity to be flat to up mid-single digits compared with last year, and up 1.5% in the first quarter, Spirit said. Spirit said it expects to have an average of 25 Airbus aircraft grounded this year because of the Pratt & Whitney engine issues. Spirit said expects to have 215 airplanes in its fleet by the end of the year.

Persons: Ted Christie, Spirit Organizations: Airlines, Pratt & Whitney, Airbus, JetBlue Airways, LSEG, Revenue, Company Locations: Miramar , Florida

☆ Fewer stocks are participating in this rally. History shows that bodes ill for future returns
▼ + stars: | 2024-02-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Despite the broad index continuing to move higher, the share of S & P 500 stocks above their 50-day moving average has fallen below 60%. That's a less-than-ideal sign, given the historical correlation between the percentage of stocks above the moving average and the S & P 500's performance one year later. The 50-day moving average finds the mean of the 50 most recent closing prices of a stock at any given point. Bespoke analyzed future returns for the S & P 500 every time it traded within 1% of a 52-week high going back to 1990. The S & P gains just around 6% on average, and is positive less than 65% of the time.

Persons: you'd Organizations: Investment, Nvidia, Microsoft

☆ These are the 25 cheapest stocks in a top-heavy market with limited upside and a historically strong chance of suffering from a correction: BMO
▼ + stars: | 2024-02-08 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

The same is true for the argument that the S&P 500 is already on the doorstep of even the most ambitious year-end price targets. BMO Capital Markets"The S&P 500 almost always experiences a technical correction at some point during the second year of bull markets historically," Belski wrote. Even if there's a typical 10% correction exacerbated by weakness in mega caps, Belski wrote that stocks can remain resilient. "Underlying leadership patterns are likely to be very different this year, with significantly more participation coming from non-mega-cap stocks," Belski wrote. BMO Capital MarketsBelow are the 25 cheapest stocks in the S&P 500, according to BMO Capital Markets, sorted by the lowest forward price-to-earnings (P/E) ratio.

Persons: Brian Belski, Belski, he's, they'll Organizations: Business, BMO Capital Markets, BMO Capital Markets BMO, BMO, BMO Capital Locations: Montreal

“What we’ve seen with the Taylor Swift tour is something that we’ve not really seen before,” said Richard Clarke, an analyst at investment firm Bernstein. Taylor Swift performs at the Staples Center in Los Angeles in 2015. From Taylor Swift On her birthday in 2019, Swift shared this photo of herself as a child. From Taylor Swift A 13-year-old Swift sings the National Anthem before an NBA game in Philadelphia in 2002. John Mabangalo/Pool/Getty Images Swift performs during a sold-out show at New York's Madison Square Garden in 2009.

Persons: Tokyo CNN —, Taylor, Travis Kelce, Taylor Swift, we’ve, ”, Richard Clarke, Bernstein, “ It’s, TikTok she’d, curating, Kane Ishiyone, Swift, –, Ishiyone, Richard A, Brooks, Clarke, “, that’s, Christopher Polk, Scott, Andrea Swift, Jesse D, Tim McGraw, Kevin Winter, John Mabangalo, Chad Batka, Bryan Bedder, Larry Busacca, Miley Cyrus, Lucas Till, Hannah Montana, Sam Emerson, Everett, Jonas, Frank Masi, I'm, West, Beyoncé, Jeff Kravitz, Lucy Nicholson, Christopher Morris, Josh Haner, Kevin Mazur, James Taylor, Charles Sykes, Matt Sayles, Mark J, Terrill, Invision, Jimmy Fallon, Douglas Gorenstein, Nicholas Harvey, Kanye West, Kim Kardashian, Laraine Newman, Bill Hader, Taran Killam, Kristen Wiig, Keenan Thompson, Fred Armisen, Kerry Washington, Betty White, Bradley Cooper, Dana Edelson, Andrea, Ethan Miller, Tim Boyles, Selena Gomez, Jordan Strauss, Mike Coppola, John Shearer, Andrew Lloyd Webber, Brandon Urie, Katy Perry, Republic Records Jack Antonoff, Aaron Dessner, Will Heath, Seth Wenig, Terence Rushin, David Eulitt, Mitsumasa Etou, Akazawa, haven’t, It’s, Michele Bullock Organizations: Tokyo CNN, People, Kansas City Chiefs, Taylor, Getty, Super Bowl, Chicago Bears, dateline, Vegas, Staples Center, NBA, of Country, Garden, New York Times, New York's Rockefeller Center, Walt Disney Co, Kanye, Madison, MTV, NBC, ACM, Academy of Country, New York's Metropolitan Museum of Art, Universal Pictures, Coachella, Republic Records, New York University, Arrowhead, Chiefs, NET, Tokyo City University, Fuji, Tokyo, Reserve Bank of Australia, Reuters Locations: Tokyo, Las Vegas, Philippines, Fukuoka, Japan, Germany, Austria, Netherlands, Shibuya, AFP, Asia, Washington, Las Vagas, Los Angeles, West Reading , Pennsylvania, Philadelphia, New York, Auburn Hills , Michigan, Newark , New Jersey, Pennsylvania, Frankfurt, London, Arlington , Texas, Tampa, Chicago, Atlanta, Kansas City , Missouri, Asia Pacific, Singapore, Australia, East Coast

☆ In a leaked email, Amazon's healthcare boss tells employees not to believe 'speculation' about its business one day after announcing layoffs
▼ + stars: | 2024-02-07 | by ( Eugene Kim | ) www.businessinsider.com time to read: +3 min

The head of Amazon's healthcare business wants employees to know Tuesday's layoffs are part of a normal business cycle, not a sign of underperformance. He noted that other companies have also made similar job cuts lately, urging employees not to believe the "pundits" who may say negative things about Amazon's healthcare business. "As often happens with changes like this, some pundits may speculate that we're eliminating roles because our health care business is underperforming — don't believe this speculation. In a separate email on Tuesday , Lindsay highlighted the growth of Amazon's healthcare business, saying the layoffs were intended to "reposition resources" so the company can better invest in other growth areas. He also said Amazon integrated One Medical's finance, legal, and tech teams into Amazon's healthcare business as it looks to "realign resources."

Persons: Neil Lindsay, —, Lindsay, we've Organizations: Service, Business, Amazon Health Services, Amazon, Pharmacy, Amazon Pharmacy, we've, Amazon Clinic Locations: U.S

☆ These are JPMorgan's top stocks for February
▼ + stars: | 2024-02-06 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Stocks are coming off a winning month, with the three major indexes finishing January up by more than 1%. CNBC Pro compiled 10 of the stocks on his list, including four new names: Cars.com , Insulet , Intuitive Surgical and Prologis . More than seven out of every 10 analysts rate the stock a buy, according to FactSet. The average price target implies the stock can rally more than 27% in the next 12 months. More than four out of every five analysts rate the stock a buy, with an average price target showing upside of more than 13%.

Persons: Stocks, Cars.com, Mizuho Organizations: JPMorgan, Federal Reserve, Investors, CNBC, Vertex Pharmaceuticals Locations: Dexcom

☆ Mortgage rates jump back over 7% as stronger economic data rolls in
▼ + stars: | 2024-02-05 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

Mortgage rates have been on a wild ride since the summer, briefly crossing to a 20-year high of 8% in October. Mortgage rates do not follow the Fed directly, but they follow loosely the yield on the 10-year Treasury, which is heavily influenced by the central bank's impression of the economy at any given time. As mortgage rates fell over the past two months, buyers seemed to be returning to the market. Mortgage applications to purchase a home had been rising steadily, but fell back in the last few weeks, as mortgage rates edged higher. "If we see more data like last Friday's jobs report, rates will have a hard time getting back below 7%.

Persons: Li Jianguo, Matthew Graham, Michael Fratantoni, Graham Organizations: National Association of Realtors, Getty, Mortgage News, Federal, Treasury, Fed, Mortgage, Association . Mortgage, CNBC PRO Locations: Millbrae , California, United States, Xinhua

Elsewhere, Bank of America raised its price target on Nvidia, calling for more than 25% upside. 7:07 a.m.: Deutsche Bank deals latest blow to regional bank after earnings disappoint Deutsche Bank joined the post-earnings dogpile on New York Community Bank . Analyst Bernard von-Gizycki downgraded the regional bank to hold from buy and slashed to price target to $7 from $15. Analyst Alicia Yap upgraded the consumer internet stock to buy from neutral and raised her price target by $6 to $50. — Alex Harring 5:45 a.m.: Bank of America hikes Nvidia price target Don't expect Nvidia to lose momentum anytime soon, according to Bank of America.

Persons: Goldman Sachs, Bernard von, Gizycki, — Alex Harring, There's, Alicia Yap, Sea's, Shopee, Alex Harring, what's, Tim Cook, Brandon Nispel, AAPL's, AAPL, Morgan Stanley, Erik Woodring, we're, Tim Long, Piper Sandler, Harsh Kumar, Meta, Ross Sandler, Benjamin Black, Mark Kelley, Bernstein, Mark Shmulik, LSEG, Rufus, Eric Sheridan, Brian Nowak, outsized, Brad Erickson, Vivek Arya, Fred Imbert Organizations: CNBC, Apple, Bank of America, Nvidia, Deutsche Bank, New York Community Bank, von, Investors, Traders, Citi, Nasdaq, Conference, Barclays, Vision, Meta, Wall Street, Amazon, RBC Capital, Enterprise, SAP, VMWare, Dell Locations: Wall, New, Thursday's, Friday's premarket, China, genAI, CY25

☆ Analysis: What to make of the US retaliation strikes against pro-Iranian militias in Iraq and Syria
▼ + stars: | 2024-02-02 | by ( Nick Paton Walsh | ) edition.cnn.com time to read: +5 min

CNN —It was meant to sound devastating, and likely felt so to the pro-Iranian militias on the receiving end. The Biden administration faced a near-impossible task: Hit hard enough to show you mean it, but also ensure your opponent can absorb the blow without lashing out in return. Mistakes, or unanticipated successes, can lead to spirals, and that can lead to unavoidable, wider conflict. The Biden administration has elections looming, in which it does not need another costly foreign adventure, trouble over its Israel policy, or rising oil prices. There will likely follow criticism of the Biden administration for not using the same blunt and forceful approach of Trump in 2020.

Persons: Defense Lloyd Austin, Biden, Donald Trump, Qasem Soleimani, prima, Joe Biden, Defense Lloyd J, Austin III, William Rivers, Kennedy Sanders, Breonna Moffett, Joshua Roberts, Soleimani Organizations: CNN, US Central Command, US, Defense, Force, Hamas, Dover Air Force Base, UN, International Atomic Energy Agency, Trump Locations: Iraq, Syria, Israel, Gaza, Iran, United States, Moscow, Dover , Delaware, Tehran, Washington

☆ These are the best-performing stocks since the market low back in October. Where analysts see them going
▼ + stars: | 2024-02-01 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Stocks as a whole have rallied off the October low — but some have seen more outsized gains than others. The S & P 500 recently climbed nearly 20% to fresh all-time highs from its low point on Oct. 27, 2023. AMD took a leg down on Wednesday after the company offered lighter guidance for current-quarter revenue than analysts had estimated. More than three out of every four analysts on Wall Street surveyed by FactSet have a buy rating onJensen Huang's Nvidia. BBWI 1Y mountain Bath & Body Works over the last year Analysts anticipate a rangebound period ahead for the stock.

Persons: they've, Goldman Sachs, Hari, Cantor Fitzgerald, C.J, Muse Organizations: CNBC Pro, Wall, Nvidia, Devices, AMD, FactSet, Body

WASHINGTON (AP) — The Senate has approved President Joe Biden’s nominee to lead the Environmental Protection Agency's air pollution office just as the agency is set to finalize rules over climate-changing emissions from power plants and cars and trucks. Joe Goffman is a longtime EPA official who has headed the air and radiation office on an acting basis since Biden took office three years ago. Goffman's 2022 nomination for the air post, one of the top jobs at EPA, lapsed last year without a Senate vote. She called the Clean Power Plan “a direct shot at American energy production" and an attempt to shut down coal- and gas-fired power plants, including those in her home state. An EPA plan to curb greenhouse gas emissions from power plants is little more than the "second iteration of the Clean Power Plan,'' Capito said.

Persons: Joe Biden’s, Joe Goffman, Biden, West Virginia Sen, Joe Manchin, Sen, John Barrasso, Bobbi, Michael Regan, Goffman, Joe, Regan, Tom Carper, ” Carper, Goffman “, Shelley Moore Capito, Obama, Barack Obama's, —, Capito, Mr, Goffman's, “, Fred Krupp, Krupp Organizations: WASHINGTON, —, EPA, West Virginia, Delaware Democrat, ”, Republican, Democratic, Supreme, federal, Biden, Environmental Defense Locations: Wyoming, overburdened, West Virginia

☆ Biden Takes Aim at Grocery Chains Over Food Prices
▼ + stars: | 2024-02-01 | by ( Jim Tankersley | ) www.nytimes.com time to read: +1 min

President Biden, whose approval rating has suffered amid high inflation, is beginning to pressure large grocery chains to slash food prices for American consumers, accusing the stores of reaping excess profits and ripping off shoppers. “There are still too many corporations in America ripping people off: price gouging, junk fees, greedflation, shrinkflation,” Mr. Biden said last week in South Carolina. Aides say those comments are a preview of more pressure to come against grocery chains and other companies that are maintaining higher-than-usual profit margins after a period of rapid price growth. Mr. Biden’s public offensive reflects the political reality that, while inflation is moderating, voters are angry about how much they are paying at the grocery store and that is weighing on Mr. Biden’s approval rating ahead of the 2024 election. Those prices jumped by more than 11 percent in 2022 and by 5 percent last year, amid a post-pandemic inflation surge that was the nation’s fastest burst of price increases in four decades.

Persons: Biden, Mr Locations: America, South Carolina

☆ The world's 2 biggest economies are moving in starkly different directions
▼ + stars: | 2024-01-31 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. AdvertisementMeanwhile, on Monday, a Hong Kong court ordered the liquidation of China Evergrande, the world's most indebted real estate developer. "I expect that the Chinese market will bounce around, but that the bias is towards more pain since the problems are systemic in my opinion," Laffer Jr. said. "The US on the other hand should do well for the 2024 period — strong economy, strong employment, strong earnings, strong dollar."

Persons: —, That's, Arthur Laffer Jr, Laffer, Xi Jinping, Joseph Seydl, you've, Seydl, didn't, Alfredo Montufar, Helu, China Evergrande Organizations: Service, Real, Business, International Monetary Fund, Investments, JPMorgan Private Bank, Conference Board's China Center, CSI, Bloomberg Locations: China, US, Beijing, backtrack, deleverage, Hong Kong

☆ Evergrande liquidation: Here’s what may happen next
▼ + stars: | 2024-01-31 | by ( Laura He | ) edition.cnn.com time to read: +9 min

But there is still little clarity over how the liquidation of Evergrande will unfold. That’s because the legal systems of Hong Kong and China remain distinct, despite Beijing’s growing control over the former British colony in recent years. No Chinese company as huge as Evergrande — which was once China’s second largest developer— has been wound up by a Hong Kong court. Hui Ka Yan, chairman of property developer China Evergrande. Since then, Evergrande has been building and selling apartments in mainland China, even though it has been unable to repay its debts.

Persons: Alvarez, Marsal, —, ”, John Bringardner, Hong, Hui Ka Yan, Xu Jiayin, Hui, Xiao En, Bobby Yip, Xiao, Evergrande, Florence Lo, homebuyers, Will, Andy Wong, Diana Choyleva, Xiao Yuanqi, ” Bringardner, ” Choyleva, Choyleva, “ Evergrande Organizations: Hong Kong CNN, Shimao, Kaisa Holdings, Group, “, Real, Century Business Herald, China Index Academy, Enodo, Communist Party, China’s, Financial Regulatory Administration, Getty, People’s Bank of China, Finance Ministry, Evergrande, Marsal Locations: Hong Kong, United States, China, British, New York, China . Hong Kong, Shenzhen —, Asia, Florence, Beijing, Real, Hainan

☆ The economy is roaring. So why do we keep hearing about layoffs?
▼ + stars: | 2024-01-31 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

Los Angeles Times, eBay, and UPS are three companies that have made recent layoff announcements. Despite cuts at big household names, the nation's layoffs and discharges rate has been steadily low. AdvertisementEmployees at the Los Angeles Times, eBay , Microsoft , and UPS are some of the workers impacted by recent layoff announcements in January. That sector had a layoffs and discharges rate of 0.8% in December, which is actually a small dip from the 0.9% in November. Zhao noted that "the scale here" means that this number probably isn't really going to change because of the recent layoff announcements.

Persons: —, Nick Bunker, Bunker, Julia Pollak, ZipRecruiter's, Daniel Zhao, Glassdoor, Zhao, that's, Kory Kantenga, isn't Organizations: Los Angeles Times, eBay, UPS, Service, Microsoft, Bureau of Labor Statistics, North America, Labor, LinkedIn

☆ Meta's continued rally could hinge on the fortunes of upstart retailers Temu and Shein
▼ + stars: | 2024-01-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +9 min

Temu is owned by PDD Holdings , a Chinese company that moved its principal office to Ireland last year. Meta is expected to report revenue growth of 22% for the quarter to $39.2 billion, according to analysts surveyed by LSEG, formerly Refinitiv. JMP analysts estimated that Temu and Shein spent roughly $600 million and $200 million, respectively, on Facebook and Instagram ads in the third quarter. In December, Temu sued Shein, alleging questionable business practices and a "mafia-style intimidation of suppliers," according to legal documents. Meta isn't the only U.S. internet company effected by the speedy growth from Temu and Shein.

Persons: Mark Zuckerberg, Jack Ma, Shu Zhang, Victor Lee, Lee, who's, Shein, Meta, Pavlo Gonchar, Temu, didn't, Susan Li, data.AI, It's, Chris Mack, Harding Loevner, they've, Mack, Shein confidentially, Mike Gallagher, Gallagher, Brian Wieser, Josh Silverman, Silverman Organizations: Alibaba, China Development Forum, Reuters, Facebook, Hasbro, Unified Commerce, Amazon, PDD Holdings, U.S, Mobile, Meta, LSEG, Getty, CNBC, Cyberspace Administration, China, Street Journal, Google Locations: Beijing, China, Ireland, Singapore, UKRAINE, U.S, United States, Wall, Asia, Pacific, Temu, Meta

Their huge and growing earnings, combined with a large number of shares outstanding, mean that the three companies exert a bigger influence on the S & P 500 earnings picture than any other. Fourth quarter earnings for the entire S & P 500 are expected to rise about 5% over the same period in 2022. For share-weighted earnings, the earnings (or earnings estimates) for each company are multiplied by the shares outstanding. What this means is that companies that are experiencing a rapid increase in their earnings can begin to exert an outsized influence on S & P 500 earnings. In a world where the S & P 500 is expected to see earnings growth of 10% this year, Nvidia's earnings growth is off the charts.

Persons: Technolgy, Nvidia —, John Butters, Jensen, Howard Silverblatt Organizations: Microsoft, Apple, Nvidia, Meta, P Global Locations: FactSet

☆ Lenders are bailing out of commercial real estate as a wave of debt builds
▼ + stars: | 2024-01-30 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +10 min

Roughly $2.1 trillion of debt connected to commercial real estate assets, including office properties, apartment buildings, hotels, and retail spaces, will come due between now and the end of 2025 in the US, according to the real estate services firm JLL. The wave of maturities and the enormous equity shortfalls have raised concerns that a growing number of commercial real estate debts will fall into distress, forcing banks and other lenders to suffer losses. His group tracked about $15 billion of commercial property debt sales during the year, roughly three times the volume from 2022. Commercial real estate loans differ from residential mortgages taken by homeowners in that most are interest-only or pay down their principal balance minimally and span a decade or less. More banks are exploring loan salesBanks and other lenders generally aren't eager to seize the real estate assets that collateralize their debt.

Persons: Jerry, Stephen Scouten, Piper Sandler, it's, Kevin Aussef, Aussef, David Tobin, Marcus, Millichap, Synovus, Tobin, David Frosh, they're, Frosh, Fitch, David Blumberg, we'd, Blumberg, Daniel Geiger, Rob Verrone, Banks, You've, Bliss Morris, Morris Organizations: Amerant Bank, Business, Banking, CIBC, Mission, PacWest, HSBC, Fidelity, Funding Inc, Blackstone, Bloomberg, Broadway, Aon Center, 601W Companies, Iron Hound Management, First Financial Locations: Coral Gables , Florida, Houston, Canadian, Brookfield, Los Angeles, Columbus, Manhattan, Midland, Chicago, Oklahoma City, New York

Home prices declined slightly in November while posting yearly gains, suggesting the housing sector has cooled somewhat heading into 2024. The house price decline came at a time where mortgage rates peaked, with the average Freddie Mac 30-year fixed rate mortgage nearing 8%, according to Federal Reserve data. But as more inventory comes on the market and mortgage rates remain elevated, sale prices may be beginning to wilt. That has led some analysts to say that the market could bounce back as the traditional spring buying season begins. The index tracks a three-month period when mortgage rates were zig-zagging and ended on a down note, said Danielle Hale, chief economist at Realtor.com.

Persons: ”, Brian Luke, San Francisco, Cleveland –, Luke, “, Freddie Mac, Selma Hepp, Danielle Hale Organizations: Dow Jones, Seattle, Cleveland, Midwest, Federal Reserve Locations: “, San, Miami, Tampa, Atlanta, Charlotte , New York

☆ Judge strikes down Elon Musk’s massive, multi-billion-dollar pay package
▼ + stars: | 2024-01-30 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —A Delaware state court judge has thrown out the 2018 pay package that helped to make Tesla CEO Elon Musk one of the richest people in the world. He said Tesla investors will benefit from the decision by having the “dilution from this gargantuan pay package erased.”Attorneys for Musk and the Tesla board argued the pay package was approved by a shareholder vote. Excluding the votes owned by Musk and his brother, 73% of the shares voting in that election supported the pay package. The company’s market cap was valued at $54 billion at the time the pay package was approved. Robyn Denholm, the chair of Tesla’s board, testified that the pay package was all about keeping Musk focused on Tesla.

Persons: Elon Musk, Chancellor Kathaleen McCormick, Musk, Tesla, “, ”, Greg Varallo, McCormick, ” Musk, Robyn Denholm, ” Denholm, – CNN’s Matt McFarland Organizations: New, New York CNN, Musk, Delaware Supreme, SpaceX, Twitter, Boring, Tesla Locations: New York, Delaware, . Delaware, Tesla

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