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☆ From Taylor Swift tickets to gasoline — these days everyone feels like they’re being price-gouged. Are they?
▼ + stars: | 2024-05-18 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +8 min

Taylor Swift performs onstage during "Taylor Swift | The Eras Tour" at SoFi Stadium on August 09, 2023 in Inglewood, California. At the core of the increasingly common accusation of price gouging is the sense that the consumer is being exploited. Price gouging is in the eye of the bidderGavin Roberts, chair of Weber State University’s economics department and who studies the effect of anti-price gouging laws, said the laws themselves often don’t define what price gouging is. Corporations charging as much as they can, as painful as it may be for consumers, doesn’t mean they’re necessarily price gouging, said Roberts. Steven Suranovic, an economics professor at George Washington University who has also published research on price gouging, sees it differently.

Persons: Emily Miller lucked, Taylor, Miller, Swift, ” Miller, Taylor Swift, Kevin Winter, it’s, —, Joe Biden — can’t, we’re, Gavin Roberts, Biden, ”, Biden hasn’t, ” Biden, Roberts, Steven Suranovic, Martin Shkreli, Shkreli, Price, Trent Sprague, Lyft, Uber, Travis Kalanick, It’s, ” Suranovic, Rafi Mohammed, Stefani Reynolds, Teresa Murray Organizations: New, New York CNN, CNN, Rights, Weber State, Corporations, George Washington University, Turing Pharmaceuticals, LinkedIn, O'Hare International, Chicago Tribune, Tribune, Service, Consumer, Culture, Profit, Getty Locations: New York, Pittsburgh, Cleveland, Inglewood , California, Chicago, New York City, Washington ,, AFP, US

☆ Glen Powell's parents have always been this extra
▼ + stars: | 2024-05-18 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +6 min

AdvertisementCut to: His parents, Cyndy and Glen Sr., crashing the red carpet and trolling him with big cardboard signs. "STOP TRYING TO MAKE GLEN POWELL HAPPEN," his mom's sign reads, while his dad holds one reading, "IT'S NEVER GONNA HAPPEN" to her left. Advertisement"I don't read tweets but my parents read tweets — so if you're talking sh-t, know that my parents are reading those tweets," he joked. "Even though they troll me, they support me in every way," Powell told ET. I have a huge, rowdy, Texas crew who gets me in all the right kinds of trouble," Powell told Nylon in a 2014 interview.

Persons: —, Glen Powell, Powell, Richard Linklater's, Glen, POWELL, IT'S, Nicola Gell, he's, who've, Chad Radwell, Ryan Murphy, goofiness, Cyndy, Lauren Powell Whatton, Leslie, She's, Glen Sr, Powell's, aren't, — they're, Jimmy Fallon, Jack, Bobby, Marge, Linklater, Will Ferrell's, Buddy, it's Powell, Richard Linklater, Michael Loccisano, Lauren, Witt, Gwen, Sydney Sweeney, Nylon, I'm Organizations: Service, Netflix, Business, Paramount Theatre, Texas Film Hall of Fame, Hollywood, Getty, Entertainment, New York City, SAG, New York Film, Taronga Locations: Austin, Los Angeles, New York, Australia, Texas

☆ A renowned market bear who called the dot-com bubble warns Wall Street groupthink is wrongly leading investors to abandon recession forecasts — and says a 'policy disaster' is brewing as the Fed keeps
▼ + stars: | 2024-05-18 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Various labor market indicators are also showing growing weakness in the economy, he said. Societe GeneraleNational Federation of Independent Business data shows further labor market weakness is likely to come, as small business hiring plans continue to fall. Both stats would suggest a rising unemployment rate going forward. In the meantime, the labor market has consistently proven resilient despite high interest rates, and stocks have enjoyed an eye-popping rally to new highs. Some also argue that labor market data points like the rising unemployment rate have to be shown with context.

Persons: —, Albert Edwards, didn't, Edwards, aren't, we'll, Societe Generale Edwards, Bob Elliott, groupthink Edwards, Alan Greenspan Organizations: Service, Societe Generale, Wall, Business, Societe Generale National Federation of Independent Business, ING, Generale, Unlimited Partners, Bridgewater Associates, of Labor Statistics, Tech

☆ A market-predicting strategist warns that chasing this record rally is a mistake — but investors can still score strong long-term gains by following this 6-part strategy
▼ + stars: | 2024-05-17 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

"We should be anticipating higher highs in the market," Lundgren, the chief market strategist at MOTR Capital Management & Research and a portfolio manager at Little Harbor Advisors, recently told Business Insider. The 28-year market veteran's upbeat sentiment is more widespread now than last fall, when the S&P 500 struggled mightily before a powerful end-of-year surge. There can be negative or positive stretches within an established bull or bear market, Lundgren noted. Only one of the ETFs tracking Lundgren's preferred sectors has beaten the S&P 500 (in dark blue) since late last summer. When adjusting for market cap, cyclicals have fared much better and have bested the equal-weight version of the S&P 500 in several cases.

Persons: —, David Lundgren, Lundgren, he'd, we've Organizations: Service, MOTR Capital Management & Research, Little Harbor Advisors, Business, Yahoo Finance, Yahoo

☆ Nvidia’s earnings will be in focus next week as stocks try to sustain record levels
▼ + stars: | 2024-05-17 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The S & P 500 broke above 5,300, also for the first time. The S & P 500 has notched record close after record close in 2024. This quarter, the top-performing S & P 500 sector is utilities, higher by 9%, followed by communication services, up by 4%. The S & P 500 and Nasdaq Composite each closed out a fourth straight week of gains. Sustaining all-time highs Nvidia's earnings will also be a key catalyst at a time when technicians are watching to see whether stocks can sustain the record levels they reached this week.

Persons: what's, they're, Jay Woods, hadn't, Piper Sandler's Harsh Kumar, Kumar, Jensen Huang, Blackwell, Zachary Hill, Chris Zaccarelli, Zaccarelli, Woods, Katie Stockton, Stockton, TJX Cos, Raymond James Thursday, Ralph Lauren Friday, Nick Wells Organizations: Nvidia, Federal Reserve, Dow Jones, Freedom Capital, Dow, Nasdaq, Independent, Alto Networks, Devices, Target, Chicago, PMI, New, . Kansas City Fed, Intuit Locations: Stockton, . Kansas

☆ 'Quiet wealth' takes on new meaning with super-private deals for mansions, art and classic cars
▼ + stars: | 2024-05-17 | by ( Robert Frank | ) www.cnbc.com time to read: +6 min

While public auction sales are declining in the art world, private sales — done behind closed doors between discreet buyers and sellers — are growing. Classic cars are also seeing a shift to private sales, especially with the most expensive and rare models. But its newly formed RM Sotheby's private sales division has seen its sales more than quadruple over the past four years, according to Shelby Myers, global head of private sales for RM Sotheby's. The rise in private sales for classic cars, art, real estate and other markets is being driven by social media, technology and cooling prices for collectibles. "They're leaving money on the table," said real estate broker Noble Black of Douglas Elliman.

Persons: Robert Frank, Phillips, Christie's, Mark Rothko, Ken Griffin, Ferraris, Shelby Myers, We've, Myers, Patrick Dovigi's, Steve Wynn, Thomas Peterffy —, Douglas, Ernie Carswell, Carswell, He's, Noble Black, Douglas Elliman Organizations: Christie's, CNBC, Sotheby's, Hamptons, Malibu , Bel Air, Beverly Locations: Sotheby's, Christie's, Manhattan, Malibu, Aspen, Palm, Manhattan's Greenwich, Palm Beach, Los Angeles, New York, Eastern, Palm Springs, Malibu ,

Dylan Field, co-founder and CEO of Figma, speaks at the startup's Config conference in San Francisco on May 10, 2022. Figma, a cloud-based design tool company, said Thursday it will allow investors, including current and former employees, to sell their shares in a tender offer that values the company at $12.5 billion. That's up 25% from the valuation at which the company fundraised in 2021, but below the $20 billion acquisition offer Adobe made in 2022. Adobe and Figma called off the planned acquisition in December following regulatory scrutiny. In December, a regulatory filing said Adobe would pay Figma a $1 billion breakup fee.

Persons: Dylan Field, Kleiner Perkins, Salesforce, Figma, Morgan, CNBC's Jordan Novet Organizations: Figma, Adobe, Microsoft, Google, Oracle Locations: San Francisco, Sequoia

Stock Chart Icon Stock chart icon The Dow, all-timeThe average was created by Charles Dow in 1896 with just 12 industrial stocks. Paired with the Dow Jones Transportation Average , the two were collectively meant to offer a gauge for the broader economy. The sole caveat: No utility or transportation stocks are included, given the existence of the Dow Jones Utility Average and Transportation Average. 1972: Dow hits 1,000It may be hard to imagine given the recent achievement, but the Dow traded below 1,000 until the early 1970s. The Dow saw its worst year since 2008 in 2022, though 2023's rebound allowed the index to erase those losses.

Persons: Spencer Platt, Dow, Charles Dow, There's, Richard Nixon, Alcoa Esmark, Du Pont, Dow didn't, Walt Disney, Eastman Kodak Merck Alcoa ExxonMobil Phillip Morris, T General Motors Sears, Morgan, Phillip Morris, Walmart Du Pont J.P, Morgan Chase Walt, Donald Trump, General Electric Nike American Express Goldman Sachs, Morgan Chase, Johnson, Joe Biden, Trump, Goldman Sachs, Gamble Amgen, — Organizations: New York Stock Exchange, Getty, Dow Jones, Dow Jones Transportation, P Global, Dow, CNBC, General Foods, Harvester, Chevron, Procter, Gamble, Alcoa, Manville, ExxonMobil, Illinois Glass American Tobacco General Electric Procter, General Foods Sears Roebuck AT, T General Motors Texaco Bethlehem Steel, T General Motors Texaco Bethlehem Steel Goodyear Union Carbide Chevron Honeywell United Technologies Chrysler International Harvester US, Nickel Westinghouse Electric Eastman Kodak International, Woolworth, Oasis, Eastman Kodak Merck Alcoa ExxonMobil, Express General Electric Procter, Gamble AT, T General Motors, T General Motors Sears Roebuck Bethlehem Steel Goodyear Texaco Boeing Honeywell Union Carbide Caterpillar IBM United Technologies Chevron International, Walt Disney, Morgan Chase Westinghouse, Apple, Microsoft, Sears and Union Carbide, Eastman Kodak Johnson, Johnson Alcoa ExxonMobil, American Express General Electric Merck AT, T, Goodyear Procter & Gamble Caterpillar Hewlett, Packard Sears, Chevron Honeywell Union Carbide Citigroup IBM United Technologies, Walmart, Morgan Chase Walt Disney, Visa, Travelers, Nike, General Electric Nike American Express, General Electric Nike American Express Goldman Sachs Pfizer Apple Home Depot Procter, Gamble Boeing IBM Travelers Caterpillar Intel United Technologies Chevron, Morgan Chase UnitedHealth, Cisco Systems Johnson, Johnson Verizon, Cola McDonald’s, Du Pont Merck Walmart ExxonMobil Microsoft Corporation Walt Disney, Exxon Mobil, Walgreens Boots Alliance, Goldman Sachs Nike American Express Home Depot Procter, Gamble Amgen Honeywell, Apple Intel Travelers Cos Boeing IBM, Caterpillar Johnson, Johnson Verizon Chevron, Cisco Systems, Walgreens, Alliance Coca Cola Merck Walmart Dow Microsoft Walt Disney Locations: New York City, T General Motors Texaco Bethlehem Steel Goodyear, America

☆ Wednesday, May 15, 2024: Cramer says this mega-cap stock still faces 'existential' threat from AI
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: 1 min

Wednesday, May 15, 2024: Cramer says this mega-cap stock still faces 'existential' threat from AIJim and Jeff discuss the latest moves in this consumer retail stock. They also talk about the AI event from this mega cap tech stock. Finally, they discuss the uncertainty around this consumer retail stock.

Persons: Cramer, Jim, Jeff

☆ These are the top 10 holdings of the Mormon church's $55 billion stock portfolio
▼ + stars: | 2024-05-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The investment arm of the Mormon church revealed some of its holdings in a 13F filing Wednesday. These are the top 10 holdings of the church's stock portfolio as of March 31. AdvertisementThe Church of Jesus Christ of Latter-day Saints has an investment portfolio of over $100 billion that includes $55 billion invested in publicly traded stocks. AdvertisementThe church, widely known as the Mormon church, reports its stock holdings on a quarterly basis, and a recent 13F filing revealed its top holdings as of March 31. These are the church's top 10 stock holdings at the end of the fourth quarter, as well as the changes in each position.

Persons: —, of Jesus Christ, Eli Lilly Vincent Kessler, Seth Wenig, Ethan Miller, Apple Justin Sullivan, Microsoft Satya Nadella, Sean Gallup Organizations: Service, of Jesus, Securities and Exchange Commission, Advisors, Reuters, JPMorgan AP, UnitedHealth, Mastercard Reuters, Nvidia, Microsoft, Getty

☆ China is 'very keen' to step up economic support, strategist says
▼ + stars: | 2024-05-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina is 'very keen' to step up economic support, strategist saysBecky Liu, head of China macro strategy at Standard Chartered Bank, says, however, that a "mega stimulus" is not yet on the table.

Persons: Becky Liu Organizations: China, Standard Chartered Bank Locations: China

☆ Google still doesn't have an answer to Apple's AI-potential, says Wedbush's Dan Ives
▼ + stars: | 2024-05-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoogle still doesn't have an answer to Apple's AI-potential, says Wedbush's Dan IvesDan Ives, Wedbush, joins 'Power Lunch' to discuss the latest announcements from Google's i/O event and what it means for the stock and position in the AI mega cap sector.

Persons: Wedbush's Dan Ives Dan Ives

☆ John Cleese is a Miu Miu man
▼ + stars: | 2024-05-14 | by ( Leah Dolan | ) edition.cnn.com time to read: +3 min

CNN —A black crewneck, mid-wash jeans, white blazer and a distressed denim Miu Miu cap. Or is the senior a dedicated Miu Miu man? John Cleese's denim Miu Miu cap retails for $550. Originally billed as the spry, sometimes juvenile sibling to grown-up Prada, Miu Miu has not so much rebranded as redefined its vision of youth. Kristen Scott Thomas walked the runway for Miu Miu in September.

Persons: Miu, Sydney Sweeney, Emma Chamberlain — it’s, octogenarian John Cleese, Cleese —, Monty Python, “, —, Miu Miu, Cleese, Camilla Cleese, Robin Williams, Jean Paul, Gaultier, Issey Miyake, Alexander McQueen, John, Prada, spry, ‘, ’, Miuccia Prada, Kristen Scott Thomas, Emma Chamberlain, Ayo Edebiri, Emma Corrin, Qiu Huilan —, Chris Evans, Michael Palin, Terry Gilliam, ”, Evans Organizations: CNN, Paris Fashion, Virgin Radio Locations: British, Paris

☆ Meet the students stacking internships and battling each other to get a foot in Goldman Sachs' and JPMorgan's doors
▼ + stars: | 2024-05-13 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +8 min

All this, the business administration student says, is part of his quest to land a job with a big bank like Goldman Sachs or JPMorgan. Advertisement"I have to grind a lot for academics and then do internships on top of that," Loh said. Many Singapore students have adopted a similar playbook to Loh's, padding their résumés with stacks of internships in the hopes of landing a spot at a top bank. AdvertisementHussain ended up doing five internships throughout his college career, including stints at a hedge fund and a private bank. Tan is slated to join a top European bank as an investment banking analyst this summer.

Persons: —, Channon Loh, he's, Loh, Goldman Sachs, Mike Kemp, Eric Sim, Sim, It's, Adnan Hussain, Hussain, Adnan Hussain Adnan Hussain, you'll, Nicholas Tan, Tan, Duo Geng Goh, Goh, it's, Chi Ang, gunning, Ang, Adrian Choo, Choo Organizations: Service, National University of Singapore, NUS, JPMorgan, Business, Getty, Goldman, Harvard, Crazy Rich, UBS Investment Bank, BI, Singapore Management University, SMU, Students, Banking Locations: Singapore, Crazy

☆ Apple's refresh cycle could gain momentum from AI, says Baker Avenue's King Lip
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple's refresh cycle could gain momentum from AI, says Baker Avenue's King LipKing Lip, BakerAvenue Wealth management chief strategist, joins 'Closing Bell' to discuss the AI trade and how it'll impact the mega-cap tech stocks.

Persons: Baker Organizations: Wealth

☆ Monday, May 13, 2024: Jim Cramer breaks down the AI effect on this high-profile consumer tech stock
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: 1 min

Monday, May 13, 2024: Jim Cramer breaks down the AI effect on this high-profile consumer tech stockJim and Jeff discuss the share moves for this semiconductor stock. They also talk about reports of this mega cap tech stock partnering with generative AI creators. Finally, they break down the uptick of this industrial stock.

Persons: Jim Cramer, Jeff

☆ OpenAI gives a shoutout to Nvidia — plus, a new industrial stock joins our watchlist
▼ + stars: | 2024-05-13 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, it's, OpenAI, Mira Murati, Jensen Huang, We're, Jim's, Estee, Jim, Jim Cramer's Organizations: CNBC, Microsoft, Nvidia, Dover Corp, Clean Energy, Sustainability Technologies, Club, Vision, Bloomberg, Apple Vision, U.S, Jim Cramer's Charitable Locations: Illinois, Dover, U.S, China, Estee Lauder

☆ Crypto prices are back. So are the TV ads.
▼ + stars: | 2024-05-13 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Read previewOne sign we're in a crypto revival: Crypto prices are roaring again. Another sign: Crypto companies are advertising on TV again. Crypto.com isn't the only one pushing crypto on TV again. It makes perfect sense to run it side-by-side with ads telling you how fun it would be to bet on the very game you're watching (unless you're an NBA player). All that said, the 2024 crypto revival still seems more like an echo of the last boom than a replay.

Persons: —, you've, it's, Eminem, Matt Damon, Damon, Crypto.com, Coinbase cheekily, Crypto, Jack Dorsey, Kitty Organizations: Service, NBA, Business, UFC, GameStop

☆ Meet the group preparing for a Soviet Union-type collapse of the US economy
▼ + stars: | 2024-05-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the people preparing for the collapse of the financial system . The big storyPreparing for the worstAdobe; Chelsea Jia Feng/BIOpinions fluctuate on the economy, but one group has a decidedly strong take. In the subreddit r/economiccollapse, users are preparing for a Soviet Union-type fall of the US economy , writes Business Insider's Jennifer Sor. Further down the economic totem pole, ALICEs (asset limited, income constrained, employed) are struggling to make ends meet . 3 things in techAlex Wong/Getty Images, STR / Contributor/Getty Images, Stephane De Sakutin/Contributor/Getty Images, Abanti Chowdhury/BIHow Mark Zuckerberg turned against the news.

Persons: —, Chelsea Jia Feng, Jennifer Sor, Jennifer, aren't, Tyler, there's, Neil Dutta, Jim Simons, annualized, Alex Wong, Stephane De Sakutin, Abanti Chowdhury, Mark Zuckerberg, Zuckerberg, Rupert Murdoch, Sam Altman, Alyssa Powell, Rick Doblin, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Business, Chelsea, Macro, Renaissance Technologies, Big Tech, Apple, FDA, FOX Locations: Soviet Union, China, Washington, Beijing, New York, London, Chicago

☆ The US-China rivalry will reshape the landscape for Big Tech earnings
▼ + stars: | 2024-05-12 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +5 min

The growth of US tech earnings is vulnerable to ongoing tensions with China. As Beijing exerts influence in the region, US tech firms will compete for a smaller market share. S&P Global data shows that for US chip firms, China is even more important for business than their home turf. AdvertisementGeopolitical tensionsAbishur Prakash, the founder of advisory firm The Geopolitical Business, told Business Insider that US tech companies ignoring the geopolitical tensions with China are risking serious setbacks to their portfolios. Experts believe that China will gradually contribute less to the revenue of mega-cap US tech firms.

Persons: —, Tesla, Apple, Prakash, Elon, Kelvin Wong, walling, Jay Pelosky, Pelosky, Wong Organizations: Service, TPW, American, Nvidia, AMD Locations: China, Beijing, India, Europe, South Korea, Taiwan, Japan, Southeast Asia, Vietnam, Malaysia, Indonesia

☆ South Korea prepares support package worth over $7 bln for chip industry
▼ + stars: | 2024-05-12 | by ( ) www.cnbc.com time to read: +1 min

A Samsung Electronics Co. 12-layer HBM3E, top, and other DDR modules arranged in Seoul, South Korea, on Thursday, April 4, 2024. Photographer: SeongJoon Cho/Bloomberg via Getty ImagesSouth Korea is readying plans for a support package for chip investments and research worth more than 10 trillion won ($7.30 billion), the finance minister said on Sunday, after setting its sights on winning a "war" in the semiconductor industry. Finance Minister Choi Sang-mok said the government would soon announce details of the package, which targets chip materials, equipment makers, and fabless companies throughout the semiconductor supply chain. South Korea is also building a mega chip cluster in Yongin, south of its capital, Seoul, which it touts as the world's largest such high-tech complex. President Yoon Suk Yeol has vowed to pour all possible resources into winning the "war" in chips, promising tax benefits for investments.

Persons: SeongJoon Cho, Choi Sang, mok, Choi, Yoon Suk Yeol Organizations: Samsung Electronics Co, Galaxy, Bloomberg, Getty Images, Finance Locations: Seoul, South Korea, Korea

☆ Friday, May 10, 2024: Jim Cramer says it may be time to sell this surging consumer staple stock
▼ + stars: | 2024-05-10 | by ( ) www.cnbc.com time to read: 1 min

Friday, May 10, 2024: Jim Cramer says it may be time to sell this surging consumer staple stockJim and Jeff discuss the strength in this consumer staple stock. They also dive into the share moves of this chemical maker. Finally, they discuss this mega cap tech facing potential search AI competition.

Persons: Jim Cramer, Jeff

☆ Portfolio manager names 3 under-the-radar growth stocks to buy right now
▼ + stars: | 2024-05-10 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

One investor says growth stocks still offer opportunities — but it's time to get selective. "Growth stocks will continue to outperform value stocks, generally speaking. Growth stocks are expected to grow rapidly, but do not pay out dividends and are often often more expensive than so-called value stocks. When considering which stocks to buy, Coons stressed the importance of valuations. "I would stay away from growth stocks outperforming because of story and invest in those with real revenue and earnings growth."

Persons: Adam Coons, Coons, PayPal Holdings Coons, " Coons, Moody's Organizations: Winthrop Capital Management, CNBC Pro, PayPal Holdings, PayPal, C Technologies, SS Locations: Coons

☆ Columbia is facing a bigger donor revolt than we thought
▼ + stars: | 2024-05-10 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

A nonprofit that's gifted Columbia $86 million pulled funding last month, the NYT reports. Unlike outspoken billionaires, the Berrie Foundation exerted influence behind the scenes. AdvertisementYet another Columbia University mega-donor yanked funding from the school — this time behind the scenes. The New York Times reports the Russell Berrie Foundation — named for the gift-and-greeting-card entrepreneur — suspended giving on April 26 in a move that cost Columbia tens of millions of dollars. This story is available exclusively to Business Insider subscribers.

Persons: Columbia, —, Russell Organizations: Columbia, Berrie Foundation, Service, Columbia University, New York Times, Russell Berrie, Business Locations: Columbia

☆ An art market full of cracks is about to face a $1 billion test
▼ + stars: | 2024-05-10 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

Art auction sales at Christie's, Sotheby's and Phillips over the next two weeks are expected to total $1.2 billion, down 18% from a year ago and nearly half the total for the May 2022 sales, according to ArtTactic. It extends a recent decline for the art market from its post-Covid peak, when cheap money, a booming stock market and fiscal stimulus saw record sales. It's the buyers showing up and what the work will sell for that will define our perception of the art market right now. Price pressuresDealers and art experts say the auction art market is stalled over price, with sellers not willing to get a lower price than they might have gotten at the peak of the market in 2021-2022. "The question they're asking is, 'Should we buy in to the art market right now?'"

Persons: Robert Frank, Phillips, Paul Allen, Brooke Lampley, Buyers, Sellers, Philip Hoffman, CNBC's Robert Frank, Andy Warhol, Jean, Michel Basquiat, Crystal Lau, Andrew Fabricant, It's, Hoffman, Francis Bacon's, George Dyer, Bacon, Dyer, Michel Basquiat's Organizations: Sotheby's, Fine Art Group, CNBC Dealers, CNBC Locations: —, Gagosian

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