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Roblox reported results for the fiscal fourth quarter on Wednesday that beat consensus estimates on the top and bottom lines. Here's how the company did:Losses per share: 52 cents vs. 55 cents expected by analysts, according to LSEG, formerly Refinitiv. Revenue (bookings): $1.13 billion vs. $1.08 billion expected, according to LSEG. The revenue figure is what Roblox calls bookings, a category that includes sales recognized during the quarter and deferred revenue. The company provided guidance for 2024 and the first fiscal quarter.
Persons: Roblox, David Baszucki, Baszucki, CNBC's Steve Kovach Organizations: New York Stock Exchange, Revenue, & Locations: & Canada
Roblox reported results for the fiscal fourth quarter Wednesday that beat consensus estimates on the top and bottom lines. Here's how the company did:Losses per share: 52 cents vs. 55 cents expected by analysts, according to LSEG, formerly Refinitiv. Revenue (bookings): $1.13 billion vs. $1.08 billion expected, according to LSEG. The revenue figure is what Roblox calls bookings, a category that includes sales recognized during the quarter and deferred revenue. The company provided guidance for 2024 and the first fiscal quarter.
Persons: Roblox, David Baszucki, Baszucki, CNBC's Steve Kovach Organizations: New York Stock Exchange, Revenue, &, CNBC PRO Locations: & Canada
London-based BP reported its underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, down from $3.3 billion in the previous quarter. It brought in $13.8 billion for all of last year, a huge drop from the $27.7 billion it earned in 2022, when Russia's war in Ukraine sent oil and natural gas prices surging. Energy prices have since fallen as a weak global economy holds back demand for fossil fuels to power cars, planes, factories and more. Despite the drop in annual earnings, BP kept its dividend steady and said it would buy back $1.75 billion in shares as well as commit to $3.5 billion in additional share buybacks for first half of this year. It's a pressure that the energy industry is facing, with companies like BP and Shell pledging to reach net zero emissions by 2050.
Persons: Murray Auchincloss, , Auchincloss, Bernard Looney, Looney, Joseph Evans, ” Richard Hunter Organizations: , BP, Shell, Exxon Mobil, Institute for Public Policy Research, Locations: Ukraine, London, Spain, Portugal
PHILADELPHIA (AP) — Philadelphia 76ers center Joel Embiid will be evaluated in four weeks after he underwent surgery Tuesday to address an injury to the lateral meniscus in his left knee. The 76ers did not release any kind of timetable on Embiid's return. But there is no doubt, given the nature of the injury, that Embiid will miss a significant amount of time. Embiid, the winner of the past two NBA scoring titles, hurt his left knee last Tuesday night in a loss at Golden State. Photos You Should See View All 45 ImagesThe 76ers fell to 4-11 without him this season after Monday night's loss to Dallas.
Persons: Joel Embiid, Embiid, ___ Organizations: PHILADELPHIA, — Philadelphia 76ers, 76ers, Golden State, San, Dallas Locations: San Antonio
Business at GE Healthcare Technologies capped off 2023 on a strong note despite ongoing concerns about China. The quarterly earnings result from GE Healthcare on Tuesday is the best of both worlds. Quarterly commentary In addition to the mid-single-digit organic revenue growth, total company orders increased by 3%. The continued divergence in orders between the two companies suggests GE HealthCare is taking market share in the industry. A GE Healthcare Ltd. BioProcess machine stands on display during the International Pharmaceutical Expo (Interphex) in New York.
Persons: Eli Lilly, GEHC, It's, Jim Cramer, Philips, we're, GEHC's, We're, Jim Cramer's, Jim Organizations: GE Healthcare Technologies, The, Starbucks, GE Healthcare, General Electric, GE HealthCare, Management, JPMorgan Healthcare, Federal Reserve, CNBC, GE Healthcare Ltd, International Pharmaceutical, Bloomberg, Getty Locations: China, ultrasounds, MRIs, New York
A sign is displayed outside a Toyota Motor Corp. dealership on January 30, 2024 in Tokyo, Japan. Toyota Motor raised its full-year operating profit forecast by nearly 9% on Tuesday, after its third-quarter earnings raced past analysts' estimates thanks to a weaker yen and strong sales of high-margin cars and hybrid vehicles. The Japanese firm raised its profit forecast for the current year to 4.9 trillion yen ($33 billion) from 4.5 trillion expected previously. That is well above an average analyst forecast of 4.6 trillion yen, according to LSEG data. Toyota's operating profit for the three months to Dec. 31 totalled 1.68 trillion yen, up 75.7% a year earlier and beating the average 1.3 trillion yen profit estimate in a poll of nine analysts by LSEG.
Organizations: Toyota Motor Corp, Toyota Motor, Toyota, LSEG Locations: Tokyo, Japan
CNN —Philadelphia 76ers superstar Joel Embiid is set to undergo surgery to deal with a left knee issue, the team announced on Sunday. “Joel Embiid will have a corrective procedure this week to address an injury to the lateral meniscus in his left knee. Embiid has spent time out of the Philadelphia lineup this season as result of persistent injury issues and has missed 14 out of the 76ers’ 48 games. The Cameroonian was recently named to his seventh career All-Star team, but it appears that he will miss this month’s festivities in Indianapolis. Embiid can only miss three more games before he becomes ineligible for an award, meaning that his injury essentially takes him out of MVP contention.
Persons: Joel Embiid, “ Joel Embiid, Embiid, Nikola Jokić, Dubs, Jonathan Kuminga, Henderson, Tyrese Maxey, Paul Reed, Mo Bamba, Nick Nurse’s Organizations: CNN — Philadelphia 76ers, 76ers, Denver Nuggets, Portland Trail Blazers, Golden State Warriors, Warriors, Getty, NBA, Eastern Conference, Sixers Locations: Philadelphia, Indianapolis
The Russell 1000 , which tracks the top 1,000 largest companies — large- and mid-cap names — is up about 3% in 2024. With this in mind, CNBC Pro screened for the stocks making a comeback in 2024. However, the consensus price target is just 4.6% from its current levels — putting into question whether there's more room for upside. Just 35.7% of analysts are bullish on the shares, and the average price target implies shares can grow just 4.3%. Sarepta Therapeutics has soared 27.4% this year — and it could jump 20.1% more according to its consensus price target, per LSEG.
Persons: Russell, they're, Merck's, Sarepta Organizations: CNBC Pro, Pharmaceutical, Merck, Verizon, Barclays, VZ, LSEG, Novo Nordisk, Sarepta Therapeutics Locations: Novo
Delivery Hero CEO Niklas Östberg speaking at the Noah tech conference in Berlin on June 13, 2019. Delivery Hero said the results were driven by healthy order growth in many of its geographies. Most notably, Delivery Hero also gave some rosy guidance for 2024, with the delivery company forecasting group GMV growth of 7-9% for the year, higher than its performance in 2023. Delivery Hero said it would publish additional preliminary numbers for the fourth quarter in a trading update slated for Feb. 14, when it was originally due to report numbers. Delivery Hero is one of the largest food delivery services globally with more 2.2 billion users.
Persons: Niklas Östberg, Britain's Deliveroo Organizations: Noah, Analysts Locations: Berlin, Indonesia
PHILADELPHIA (AP) — Philadelphia 76ers center Joel Embiid will undergo an unspecified procedure this week to correct the injury to the lateral meniscus in his left knee. The 76ers did not say on Sunday night how much time Embiid was expected to miss. Embiid hurt his left knee Tuesday night in a loss to the Golden State Warriors. Embiid already has missed 13 games this season, all but ending his chances of being eligible for a second straight MVP award. He is the NBA’s leading scorer at 35.3 points per game and is averaging 11.3 rebounds and 5.7 assists.
Persons: Joel Embiid, Embiid, ___ Organizations: PHILADELPHIA, — Philadelphia 76ers, 76ers, Dallas, Golden State Warriors, NBA, San Locations: San Antonio
Only 5.7% of the 1.3 million eligible voters cast ballots at the 39 voting stations around the city, the newspaper Le Monde said. Demur said heavier cars make congestion “even more complicated” and that ”one must consider the ecology, the parking issues." It’s about freedom.”The vote follows another City Hall consultation last year on whether to ban for-hire electric scooters. In a country of car-lovers, home to Renault, Citroen and Peugeot, Hidalgo has worked for years to make Paris less car-friendly. It’s become a central Paris haven for cyclists, runners, families and romantics since Hidalgo closed it to motor traffic in 2016.
Persons: Anne Hidalgo, Le, Hidalgo, , Demur, Hall's, Leicester Organizations: PARIS, Socialist, Le Monde, Renault, Citroen, Peugeot, Paralympic Games Locations: Paris ’, Paris, It’s, Hidalgo, Le Pecq, France
The Dow Jones Transportation Average, which tracks 20 US transportation stocks from railroads to airlines to delivery, has fallen 1.6% so far this year, underperforming the broader Dow industrials’ 2.2% gain. As that optimism dims, some investors worry that the decline in transportation stocks suggests rough times ahead for the economy. The transportation index tends to fall when the economy deteriorates, as demand for travel and goods wanes. Turmoil in the airline industry also likely contributed to the recent slide in transportation stocks. But net profit fell 14% to €4.9 billion ($5.3 billion) as its tax bill rose.
Persons: CH, , ”, Mark Luschini, Janney Montgomery Scott, Russell, Howard Silverblatt, Dow, effusively, , Luschini, Jason Heller, “ I’m, Hanna Ziady, Sewing, Read, Tod Steward, He’s, It’s, Parija Kavilanz, Steward, Steward hasn’t, , haven’t, that’s Organizations: CNN Business, Bell, New York CNN, Dow Jones Transportation, Dow, CH Robinson Worldwide, United Parcel Service, Avis Budget Group, Alaska Air Group, Federal Reserve, Alaska Airlines Boeing, Max, Apple, Microsoft, Meta, Dow Jones, Tesla, Coastal Wealth, Deutsche Bank, Super Bowl, CNN Locations: New York, Seattle
Hindsight is 20/20 — or in this case, 2023, which we can now call the year of the recession that never came. Increasing bond exposure will act as a type of long-term insurance policy by providing steady returns for a portfolio. "That doesn't mean that we cannot take risks anywhere in financial markets," Pirondini said. In my portfolio, 4% allocation was to catastrophe bonds last year. The return was about 20%, one of the best areas of any market, and this year, we are redoing the same asset allocation choice."
Persons: Marco Pirondini, Amundi, Pirondini Organizations: Service, Amundi, New York Stock Exchange, Business
Oil Giants Pump Their Way to Bumper Profits
  + stars: | 2024-02-02 | by ( Stanley Reed | ) www.nytimes.com   time to read: +1 min
The companies’ earnings were down from the bonanza year of 2022, when a surge in prices pushed up profits, but were otherwise the strongest in recent history. Exxon earned $7.6 billion in the fourth quarter of 2023, a 40 percent fall from the same period in 2022. For all of 2023, the company reported $36 billion in earnings, compared with $55.7 billion in 2022. Chevron reported earnings of $2.3 billion in the fourth quarter, down from $6.3 billion a year earlier. For the year, the company made $21.4 billion, down from $35.4 billion in 2022 but, like Exxon, otherwise its biggest annual profit in a decade.
Organizations: Exxon Mobil, Chevron, Exxon Locations: California
The authors said these new and unusual fossil trees not only bear a surprising shape reminiscent of a Dr. Seuss illustration, they reveal clues about a period of life on Earth of which we know little. Few tree fossils that date back to Earth’s earliest forests have ever been found, according to Gastaldo. Most ancient tree specimens are relatively small, he noted, and often discovered in the form of a fossilized trunk with a stump or root system attached. Wilf noted via email that the “unusual” new fossil tree was a relic of a time period from which there are almost no tree fossils. The peculiar set of tree fossils presents proof of a “failed experiment of science and evolution,” Stimson added.
Persons: Seuss, , Robert Gastaldo, sedimentologist, , Coauthors Olivia King, Matthew Stimson, Gastaldo, “ gobsmacked, Tim, Laurie Sanford, Stimson, ” Stimson, Peter Wilf, Wilf, ” Wilf, Dr, King, “ We’re, fossilization, ” Gastaldo Organizations: CNN, Colby College, New Brunswick Museum, geosciences, Pennsylvania State University Locations: Canadian, New Brunswick, Waterville , Maine, paleobotanist
Sultan Ibrahim Iskandar, 65, was declared king on Wednesday as part of the country's rotating monarchy. King Sultan Ibrahim Iskandar of Johor is photographed with his sister, Queen Tunku Azizah Aminah Maimunah Iskandariah, after his accession was announced in October 2023. MOHD RASFAN/AP ImagesSultan Ibrahim is head of the Johor royal family and is considered one of the country's wealthiest men. In May 2023, a video posted to the Johor royal family's TikTok account showed them dining at Istanbul Turkish Cuisine, a reservations-only restaurant in Horizon Hills, Johor. King of Malaysia Sultan Ibrahim Iskandar (right) speaks with Malaysia's Prime Minister Anwar Ibrahim (left) after the oath-taking ceremony.
Persons: Sultan Ibrahim Iskandar, King Sultan Ibrahim Iskandar, Tunku Azizah Aminah, Iskandariah, MOHD RASFAN, Sultan Ibrahim, Sultan Ibrahim isn't, Ferrari Testarossa, HASNOOR HUSSAIN, Adolf Hitler, Hitler, Harley, Davidson, Tunku Ismail, Crown, Prince, of, of Malaysia Sultan Ibrahim Iskandar, Anwar Ibrahim, Abdullah Ahmad Shah, Mahathir Mohamad Organizations: Bloomberg, Facebook, Getty, Mercedes, YouTube, Boeing, Guardian, U Mobile, Maharani Energy, Johor Darul, The Straits Times, Malaysian, Malaysia's Locations: Malaysia, Malaysia's, Johor, Malaysian, Kuala Lumpur, India, Istanbul Turkish, Horizon Hills, Johor Darul Ta'zim, Singapore, Forest, Manhattan, of Malaysia Sultan
SCOTTSDALE, Ariz. (AP) — Jazz Chisholm Jr. got disappointing news on his 26th birthday, losing to the Miami Marlins in the first salary arbitration decision of the year. The outfielder will be paid $2,625,000 rather than his $2.9 million request, Margaret Brogan, Jeanne Vonhof and Scott Buchheit ruled Thursday. He went 0 for 8 with four strikeout as the Marlins were swept by Philadelphia in their NL Wild Card Series. Chisholm had a $749,500 salary last year and was eligible for arbitration for the first time. Photos You Should See View All 45 ImagesMiami also is scheduled for hearings with second baseman Luis Arraez ($12 million vs. $10.6 million) and left-hander Tanner Scott ($5.7 million vs. $5.15 million).
Persons: Jazz Chisholm, Margaret Brogan, Jeanne Vonhof, Scott Buchheit, Chisholm, Luis Arraez, Tanner Scott, Arraez, Austin Hays, José Suarez, Joshua Gordon, Walt De Treux, Howard Edelman, Suarez, ___ Organizations: Miami Marlins, Marlins, NL, Miami, AL, Minnesota, Baltimore Orioles, Angels Locations: SCOTTSDALE, Ariz, Philadelphia, Angeles
BANGKOK (AP) — Asian shares were mixed on Thursday after Wall Street fell to its worst loss since September as the Federal Reserve indicated cuts to interest rates are not imminent. On Wednesday, Big Tech stocks burned by the downside of high expectations triggered a sharp slide. The slide for Big Tech stocks dragged the Nasdaq composite to a market-leading loss of 2.2%. The Dow Jones Industrial Average, which has less of an emphasis on tech, fell a more modest 0.8%, to 38,150.30. Three more Big Tech stocks will report results on Thursday: Amazon, Apple and Meta Platforms, the parent company of Facebook and Instagram.
Persons: Dan Ives, ” Tesla, Elon Musk, “ We’re, , Jerome Powell, “ It’s, Powell Organizations: Federal Reserve, Nikkei, Big Tech, Nasdaq, Dow Jones, Microsoft, Wedbush Securities, , Apple, Facebook, Fed, Wednesday, Treasury, ADP Research, U.S, New York Mercantile Exchange, Brent Locations: BANGKOK, U.S, Shanghai, Seoul, Australia, India, Louvre, Delaware
ATLANTA (AP) — Georgia Power Co. said Thursday that vibrations found in a cooling system of its second new nuclear reactor will delay when the unit begins generating power. Georgia Power said the Unit 4 problem has already been fixed but too much testing remains to be done to make the March 30 deadline. The new Vogtle reactors are currently projected to cost Georgia Power and three other owners $31 billion, according to calulations by The Associated Press. But even as government officials and some utilities are again looking to nuclear power to alleviate climate change, the cost of Vogtle could discourage utilities from pursuing nuclear power. Georgia Power owns 45.7% of the reactors, with smaller shares owned by Oglethorpe Power Corp., which provides electricity to member-owned cooperatives; the Municipal Electric Authority of Georgia; and the city of Dalton.
Persons: Georgia Power Organizations: ATLANTA, — Georgia Power Co, Vogtle's, Southern Co, Georgia, Georgia Power, Georgia Public Service Commission, Regulators, The Associated Press, Westinghouse, Oglethorpe Power Corp, Municipal Electric Authority of Locations: Atlanta, Augusta, Georgia, Vogtle, American, Municipal Electric Authority of Georgia, Dalton, Florida, Alabama
Would you look at the quarter Amazon just delivered. One of the main highlights came from its cloud unit, Amazon Web Services (AWS), where revenue growth finally accelerated. Better yet, management's comment about how it expects accelerating AWS revenue trends to continue through 2024 should keep the bulls happy. If the AWS revenue growth acceleration continues and the company continues its progress on expanding margins, the stock should get back there. Driving this accelerating revenue growth was an increase in larger new deals while the cost optimization headwind "continued to attenuate," the company said.
Persons: Amazon's, we're, Amazon, Jim Cramer's, Jim Cramer, Jim, Mike Segar Organizations: Amazon, Revenue, LSEG, Amazon Web Services, Microsoft, AWS, Management, Prime, Subscription Services, CNBC Locations: North America, Robbinsville , New Jersey
Deutsche Bank on Thursday smashed fourth-quarter earnings expectations, reporting net profit of 1.3 billion euros ($1.4 billion) and announcing a further 1.6 billion euros in shareholder returns for 2024. It follows net profit of 1.031 billion euros for the previous quarter and 1.8 billion euros for the same period last year. It also plans to recommend 900 million euros in shareholder dividends for 2023 at its Annual General Meeting in May. For the year as a whole, the bank reported 4.2 billion euros in net income attributable to shareholders — beating expectations of 3.685 billion euros expected by analysts. As part of a 2.5 billion euro operational efficiency program, Deutsche Bank said it expects to cut 3,500 jobs, mainly in "non-client-facing areas."
Persons: James von Moltke Organizations: Deutsche Bank, Deutsche, CNBC Locations: repurchases
Mark Robinson remained the top fundraiser in the GOP primary campaign for North Carolina governor entering 2024, but a recent rival has used his own personal fortune to compete with him monetarily. Political Cartoons View All 253 ImagesMorgan’s campaign report said it raised $119,300 during the second half of 2023 and had $32,100 in cash entering January. Graham's campaign finance report said it had $161,600 in cash starting the new year. He was sitting on almost $1.3 million in cash entering January, which came in large part from $1 million he loaned his campaign last June. Robinson, in turn, has attacked Graham in speeches about his lawsuits involving hog farm operations in eastern North Carolina.
Persons: Mark Robinson, monetarily, Bill Graham, Graham, Josh Stein’s, Mike Morgan, Roy Cooper, Stein, Josh Stein, Robinson, Donald Trump, Dale Folwell, — Gary Foxx, Marcus Williams, Chrelle Booker —, weren’t, Folwell, Sen, Thom Tillis Organizations: — Republican, Gov, GOP, North Carolina, State Board, Republican, Associated Press, Democratic, Current Democratic, Israel Locations: RALEIGH, N.C, North, Salisbury, North Carolina
Analyst Oliver Chen also maintained his buy rating for Ulta stock, simultaneously lifting his price target to $580 from $570. Deutsche Bank: Reiterate buy rating and $450 price target, implying 10% upside. Kallo's price target of $300 implies that Tesla stock could rally more than 56% from its Tuesday closing price. Citi analyst Christopher Danely also stood by his buy rating on the stock while lifting his price target to $192 from $136. Analyst Jeffrey Adelson downgraded the company to underweight from equal weight and cut his price target to $6.50 from $7.
Persons: Morgan Stanley, TD Cowen, Ulta, Oliver Chen, ULTA, Chen, — Lisa Kailai Han, Goldman Sachs, Kash Rangan, Baird, Tesla, Ben Kallo, Elon Musk's, Toshiya Hari, Hari, Christopher Danely, Vivek Arya, Danely, Arya, Harlan Sur, Kannan Venkateshwar, Venkateshwar, Eric Sheridan, Sheridan, Justin Post, Ross Sandler, Sandler, Ronald Josey, Josey, Morgan Stanley downgrades, Jeffrey Adelson, Adelson, SOFI, SoFi, Fred Imbert Organizations: CNBC, Google, Microsoft, SoFi Technologies, Deutsche Bank, Citi, Barclays, Tesla, Devices, Wall Street, AMD, Bank of America, Barclays downgrades Verizon Barclays, Verizon, Venkateshwar, Bulls, Morgan Stanley downgrades SoFi Locations: Ulta
Malaysia has a new billionaire king who has his own army, a fleet of private jets, and 300 luxury cars, including one apparently gifted by Adolf Hitler. King of Malaysia Sultan Ibrahim Iskandar (right) speaks with Malaysia's Prime Minister Anwar Ibrahim (left) after the oath-taking ceremony. AdvertisementAccording to Bloomberg, the Johor family is worth an estimated $5.7 billion. In a resurfaced 2013 interview posted to YouTube in 2017, Sultan Ibrahim said Hitler was a friend of his great-grandfather. AdvertisementSultan Ibrahim's wife, Raja Zarith Sofiah, is from another royal family, an Oxford graduate, and a children's books author, according to the Associated Press.
Persons: Adolf Hitler, Sultan Ibrahim Iskandar, Malaysia Sultan Ibrahim Iskandar, Anwar Ibrahim, MOHD RASFAN, Sultan Ibrahim —, Yang di, Pertuan, Sultan Ibrahim, Hitler, Harley, Sultan Ibrahim's, HASNOOR HUSSAIN, couldn't, Mahathir Mohamad, Mohamad, Raja Zarith Sofiah Organizations: Malaysia's, Singapore Straits Times, Business, Bloomberg, Ferrari, Getty, Reuters, U Mobile, ABC News, YouTube, Davidson, Guardian, Sydney Morning Herald, Associated Press Locations: Malaysia, Malaysia Sultan, Johor, Singapore, Great Britain, England, Kuala Lumpur, Malaysian, Oxford
SAN FRANCISCO (AP) — Philadelphia 76ers center Joel Embiid is undergoing an MRI after the reigning MVP hurt his left leg Tuesday in a 119-107 loss to the Golden State Warriors. Embiid scored 14 points in that game before limping to the locker room with 4:04 remaining after Golden State’s Jonathan Kuminga fell on the 7-footer’s left leg. He is the NBA’s leading scorer with 35.3 points per game and also is averaging 11.3 rebounds and 5.7 assists. He had a franchise-record 70 points to go along with 18 rebounds on Jan. 22 in a 133-124 victory over the San Antonio Spurs. The 76ers next play Thursday at Utah to cap a five-game trip in which they have gone 0-4.
Persons: Joel Embiid, Embiid, Golden, Jonathan Kuminga, footer’s, Nikola Jokic —, Nick Nurse, “ They’re, what’s, ” Embiid, ___ Organizations: FRANCISCO, — Philadelphia 76ers, Golden State Warriors, Saturday, Denver, ” 76ers, NBA, San Antonio Spurs, 76ers Locations: Portland, Utah
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