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East West Bank CFO on Q4 earnings
  + stars: | 2024-01-26 | 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 EmailEast West Bank CFO on Q4 earningsChristopher Del Moral-Niles, East West Bank CFO, joins 'Money Movers' to discuss if uncertainty in China impacts bank loan growth, the softer loan growth guidance, and EWBC's exposure to California.
Persons: Del Moral Organizations: East West Bank Locations: Niles, China, California
Hedge fund investor Dan Niles said megacap tech stocks that led the market rally last year will have to start proving themselves this upcoming earnings season. Apple shares slid 6% last week after several firms downgraded the stock, citing weaker iPhone sales. On Monday, however, Apple shares rallied more than 2% as investors bought the dip in tech stocks. Niles said there will be opportunities in megacap tech stocks this earnings season for choosy investors. You're going to actually have to get the fundamentals right to make money."
Persons: Dan Niles, Niles, CNBC's, he's Organizations: Federal Reserve, Nvidia, Apple
Widely followed investor Dan Niles on Tuesday revealed his top stock picks for 2024, including one of 2023's top performers. The founder and senior portfolio manager of the Satori Fund selected two names from the so-called Magnificent Seven mega-cap tech stocks as his favored shares for the new year — Amazon and Meta Platforms . META 1Y mountain Meta shares 1-year chart ETFs The hedge fund investor is also bullish on SPDR S & P Biotech ETF (XBI), which tracks more than 120 biotech companies. The investor said the top holdings in KWEB — Baidu , Alibaba and Tencent — are so much cheaper than mega-cap names in the Magnificent Seven. "You can buy them at 13 times P/E off 24 numbers for comparison, The Magnificent Seven, you're paying 34 times," he said.
Persons: Dan Niles, Satori, Niles, Apple, they're, we've Organizations: Satori Fund, Apple, Barclays, CNBC, Meta, P Biotech, KraneShares CSI China Internet, Baidu
Still, not many have had the cultural impact of “The Nanny” herself, Fran Fine. Over the years, fan accounts like What Fran Wore and the Fran Fine Fashion Database have documented all of the character’s roughly 700 outfits. Drescher in character as Fran Fine in a promotional photo for "The Nanny", pictured with the show's other principcal cast members. CBS/Getty ImagesCooper says that when she first envisaged Fran’s aesthetic, it didn’t reflect early ‘90s fashion trends. It’s no wonder that after all these years, fans of “The Nanny” and fashionable TikTokers continue to cosplay as Fran in swarms.
Persons: Cher Horowitz, Dionne Davenport, , Carrie Bradshaw, , Rachel Green, , Fran Fine, Fran, Fran Drescher, Fran Wore, Drescher, Charles Shaughnessy, Maxwell Sheffield, Daniel Davis, Niles, Lauren Lane, Babcock, Madeline Zima, Grace Sheffield, Benjamin Salisbury, Tom, Maggie Sheffield, Brenda Cooper, Shawn Holly Cookson, Terry Gordon, Cooper, Todd Oldham, Dolce, Gabbana, Bob Mackie, Anna Sui, Brenda Cooper’s, Moschino, Leger, ” Cooper, Neiman Marcus, , ” Moschino, Jennie Walker, ” Walker, Kate Spade, Gucci, Vivienne Westwood, Cooper didn’t, suede, “ ​ Organizations: CNN, City, Flushing, Brighton Sheffield, CBS, Getty, Vogue, Locations: Versace, Italian, LA
Best Buy sees steeper decline in annual comparable sales
  + stars: | 2023-11-21 | by ( ) www.reuters.com   time to read: +1 min
A Best Buy store is seen in Niles, Illinois near Chicago, September 23, 2013. REUTERS/Jim Young/File Photo Acquire Licensing RightsNov 21 (Reuters) - Best Buy (BBY.N) said on Tuesday it expects a steeper drop in full-year comparable sales, anticipating shoppers to remain selective in purchases of big-ticket items like electronics and home appliances despite elevated holiday season promotions. The company's shares, down nearly 15% this year, fell 2.4% in premarket trading after a miss on third-quarter revenue estimates. The top U.S. electronics retailer now expects annual comparable sales to decline in the range of 6.0% to 7.5%, compared with its prior range of a 4.5% to 6.0% drop. Total revenue fell to $9.76 billion in the third quarter ended Oct. 28 from about $10.59 billion a year earlier and compared with LSEG estimates of $9.90 billion.
Persons: Jim Young, Corie Barry, Savyata Mishra, Sriraj Organizations: REUTERS, Thomson Locations: Niles , Illinois, Chicago, Bengaluru
REUTERS/Jim Young/File Photo Acquire Licensing RightsNov 21 (Reuters) - Top U.S. electronics retailer Best Buy (BBY.N) on Tuesday forecast a bigger decline in annual comparable sales and pointed to "difficult to predict" consumer demand, days ahead of Black Friday that signals the start of the holiday shopping season. "In the more recent macro environment, consumer demand has been even more uneven and difficult to predict," CEO Corie Barry said in a statement. Retailers from Lowe's (LOW.N) to Walmart (WMT.N) have warned of cautious consumer spending as the holiday shopping season gets underway. U.S. holiday sales this year are expected to grow at a slower pace, according to data from the National Retail Federation. Best Buy's third-quarter revenue fell 8.2% to $9 billion in the U.S. as demand fell again across appliances, home theater, computing and mobile phones, signaling that higher discounts failed to entice shoppers.
Persons: Jim Young, Corie Barry, Steven Zaccone, Savyata Mishra, Sriraj Organizations: REUTERS, Lowe's, Walmart, National Retail Federation, Citi, Thomson Locations: Niles , Illinois, Chicago, U.S, comparables, Bengaluru
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon is our favorite 'Magnificent Seven' stock, says Satori Fund's Dan NilesDan Niles, Satori Fund founder and portfolio manager, joins 'Squawk Box' to discuss the Apple's quarterly earnings results, which tech stocks he likes, and more.
Persons: Satori, Dan Niles Dan Niles Organizations: Fund
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOracle is a buy 'if you're looking for growth at a reasonable price': Satori Fund's Dan NilesHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Dan Niles, Brian Sullivan, Organizations: Oracle, CNBC
Small-cap stocks were on investors' radar last week. The Russell 2000 index turned in five straight days of gains for the first time since mid-July, according to CNBC analysis. "We're in consumer staples stocks and Russell 2000 stocks," said Niles, adding that Pepsi is the fourth-largest holding in his Satori Fund's consumer staples basket. Both Citi and Morningstar said small-cap stocks now look cheaper than the broader market. How to play small-caps One of the more popular ways to invest in small-cap stocks is through the iShares Russell 2000 ETF (IWM).
Persons: Russell, Dan Niles, CNBC's, Niles, David Bailin, Morningstar, Davidson, — CNBC's Michelle Fox, Fred Imbert Organizations: CNBC, Russell, Pepsi, Citi, Citi Global Wealth's, Morningstar Equity Research, Ionis Pharmaceuticals, Screen CNBC Pro Locations: Israel, Gaza
Hedge fund manager Dan Niles has revealed that he is still shorting Tesla 's stock, despite being bullish on the broader market. Niles, cofounder and portfolio manager of the Satori Fund, told CNBC's "Squawk Box" Tuesday that he sees significant headwinds for Tesla in the months ahead that could push the stock lower. TSLA YTD line Having more than doubled in value this year, Niles said the stock now faces a very different environment to earlier this year. It should be noted that Niles' Tesla short position is relatively small and accounts for about 1% of his portfolio. In contrast, the fund manager has previously made aggressive bets of up to 15% of the fund on stocks where the hedge fund has had a high conviction.
Persons: Dan Niles, Tesla, Niles, CNBC's, Elon Musk, Thomas Edison, he's Organizations: Tesla, Cox Automotive, CNBC
Hedge fund investor Dan Niles sees a buying opportunity in small-cap and consumer staples stocks right now. The Russell 2000 , the barometer for small-cap stocks, is now up about 1% in 2023. .RUT YTD mountain Russell 2000 year to date He is also in consumer staples stocks, which gives him a little bit of defense as well, he said. The fourth-largest weighting in Satori Fund's consumer staples basket is PepsiCo , Niles said. Niles' tech picks Meanwhile, Niles sees an uphill battle for big tech.
Persons: Dan Niles, Russell, Niles Organizations: PepsiCo, Pepsi, Microsoft, Nvidia, Apple Locations: Israel, U.S
You could say Joe Cristalli tweeted his role as co-executive producer and co-showrunner on the new “Frasier” sitcom into existence. Political Cartoons View All 1205 ImagesThis “Frasier” stars Grammer in the title role of the high-brow psychiatrist, as he moves back to Boston. They also reference the original series sparingly and smartly — which is an act of restraint that Cristalli said Harris helped him to understand. That’s not Frasier.’ The next day he’s got, you know, longer pants and the next day it's a blazer. Bruce Miller composed the original ”Frasier" theme.
Persons: Joe Cristalli, Frasier, “ Frasier ”, Cristalli, Kelsey Grammer, “ Frasier, Frasier ”, Grammer, , Chris Harris, Freddy, John Mahoney, Harris, Frasier Crane, , Chris, We’re, Jack Russell, James Burrows, “ Will, Grace ”, ” Burrows, Jack Cuttmore, Scott, Anders Keith, David, Frasier's, Niles, Daphne, Kelsey, he’s, he’ll, , Bruce, Jason Miller, Bruce Miller, hipper, Martin, , It's, Glenda Rovello, , Burrows Organizations: Paramount, Harvard Locations: Boston, Cambridge, Mahoney's
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe number one thing I am watching is oil, says Satori Fund's Dan NilesDan Niles, Satori Fund Founder, joins 'Closing Bell Overtime' to talk how top tech names are performing in the current market.
Persons: Satori, Dan Niles Dan Niles
U.K.-based chip design company Arm debuted on the Nasdaq on Thursday, and now it's trading at a premium to even fellow semiconductor firm Nvidia . But hedge fund manager Dan Niles told CNBC's " Squawk Box Asia " that he'd "much rather own" Nvidia for the AI play. He pointed out that 75% of Nvidia's revenues are data center-driven, whereas less than 15% of Arm's revenues are driven by AI. Nvidia is also down around more than 7% so far in September and Niles describes that as a "very healthy consolidation." "Those are all names you can buy at much better valuations than you can buy Arm and I'm not arguing Arm isn't a great company," Niles said.
Persons: Dan Niles, CNBC's, Niles Organizations: Nasdaq, Nvidia, Fund, it's, Intel, Meta
CNN —Almost four decades after he first appeared on television screens, Frasier Crane is back–and he’s basically the same, albeit with a new skyline. The first full trailer for the reboot of the hit ’90s sitcom “Frasier” was released by Paramount+ on Thursday, offering more details of the series, which sees Kelsey Grammer return to play the titular character 30 years after the original show first aired. Set in Boston, the city in which the world was first introduced to Frasier, the trailer shows him attempting to reconnect with his now adult son Freddy, played by Jack Cutmore-Scott, and moving from Seattle in the hope of mending their relationship. Frasier (2023) | Official Trailer | Paramount+Ahead of the show’s much anticipated return on October 12, the trailer racked up more than a million views on YouTube within 24 hours of its release. This image released by Paramount+ shows Kelsey Grammer as Frasier Crane, left, Jess Salgueiro as Eve, center, and Jack Cutmore-Scott as Freddy.
Persons: Frasier Crane, he’s, Frasier ”, Kelsey Grammer, Frasier, Freddy, Jack Cutmore, Scott, Lacroix, , Alan, Nicholas Lyndhurst, “ Frasier ”, Martin, Niles, Jess Salgueiro, Chris Haston, John Mahoney, David Hyde Pierce, Frasier’s, Lilith Sternin, Bebe Neuwirth Organizations: CNN, Paramount, YouTube, Boston Locations: Boston, Seattle, British
PHILADELPHIA (AP) — A group photo of about two dozen law officers in tactical gear posing with escaped murderer Danelo Cavalcante minutes after his capture Wednesday in southeastern Pennsylvania drew criticism from policing reform advocates and some members of the public. Policing experts said the celebratory moment after the grueling 14-day search for the armed suspect was inappropriate and dehumanizing. Photos of Cavalcante immediately after being arrested, with the police dog pinning him down, circulated widely on social media Wednesday in the hours after the arrest was announced. The photos did not include information about who took them, but they were taken inside the secured perimeter where only law enforcement officers were allowed. If I was on the scene as the public affairs officer representing a law enforcement agency, I would have discouraged it.”
Persons: Danelo, George Bivens, “ They’re, ” Bivens, “ I’m, , Adam Scott Wandt, John Jay, , ” Wandt, Cavalcante, Tyre Nichols, Demetrius Haley, Nichols, Wilson, ” Wilson, that's, ” Leonard Sipes, ” Sipes Organizations: PHILADELPHIA, KYW, Pennsylvania, Police, John, John Jay College of Criminal, Pennsylvania State Police, State Police, Associated Press, U.S . Marshals Service, U.S . Customs, Border Protection, Drug Enforcement Agency, Alcohol, Tobacco, Firearms, Explosives, Memphis, Niles, Center for Policing Equity, Civil Locations: Pennsylvania, U.S, Newark , New Jersey
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLong-term Apple is the most over-valued large cap tech stock out there, says Satori Fund's Dan NilesHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Satori, Dan Niles, Brian Sullivan, Organizations: CNBC
The stock market may be losing one of its leaders heading into the release of key inflation reports next week that could clarify the path of future monetary policy. Apple weakness However, even after Apple's drop this week, some investors expect to see further declines in Apple because of deteriorating stock price momentum. A hotter-than-expected price report will likely add to investor concern over sticky inflation and tighter monetary policy, weighing on equities. Monday Sept. 11 Earnings: Oracle Tuesday Sept. 12 6 a.m. NFIB Small Business Index (August) Wednesday Sept. 13 8:30 a.m. Consumer Price Index (August) 8:30 a.m. Initial Claims (09/09) 8:30 a.m. Producer Price Index (August) 8:30 a.m. Retail Sales (August) 10 a.m. Business Inventories (July) Earnings: Lennar , Adobe , Copart Friday Sept. 15 8:30 a.m.
Persons: Rob Ginsberg, Tim Cook, selloff, Wolfe Research's Ginsberg, Ginsberg, Dan Niles, Satori, Wolfe's Ginsberg, Alex McGrath, FactSet, isn't, Price, , Michael Bloom, Gabriel Cortes Organizations: Apple, Wolfe Research, Dow Jones, Nasdaq, Nvidia, Tech, Satori Fund, U.S . West Texas, ICE Brent, Federal Reserve, Wealth, Traders, United Auto Workers, UAW, Big Three, General Motors, Ford Motor, Treasury Budget, Retail, Adobe, Price, Index, Manufacturing Locations: China, Apple, U.S, @CL, Michigan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple has benefited tremendously from Covid, and now that's changing: Satori Fund's Dan NilesDan Niles, Satori Fund founder and senior portfolio manager, joins 'Power Lunch' to discuss whether investors should short Apple, the biggest risk posed to Apple's P/E ratio, and why Apple is seeing a revenue slump despite services growth.
Persons: Dan Niles Dan Niles, Apple's Organizations: Apple, Fund
Apple CEO Tim Cook attends the annual session of China Development Forum (CDF) 2018 at the Diaoyutai State Guesthouse in Beijing, China March 26, 2018. Apple shares fell about 3% on Thursday, following a 4% decline on Wednesday, after several reports suggesting that Chinese government workers could be banned from using iPhones. Greater China, including Hong Kong and Taiwan, is Apple's third-largest market, accounting for 18% of total revenue of $394 billion. It's also where the vast majority of Apple products are assembled. The ban could spread to other state companies and government-backed agencies, Bloomberg News reported on Thursday.
Persons: Tim Cook, It's, Bernstein, Toni Sacconaghi, Sacconaghi, Dan Niles Organizations: Apple, China Development Forum, U.S, Street, Bloomberg, Huawei Locations: Diaoyutai, Beijing, China, Greater China, Hong Kong, Taiwan
Widely followed investor Dan Niles revealed Thursday he dumped his Apple shares and started betting against the tech giant in a significant way. "Sold $AAPL & now our largest single stock short," the founder and senior portfolio manager of the Satori Fund said in a post on X , formerly known as Twitter. The hedge fund manager bought Apple on Aug. 18 and started selling Wednesday, he said. Shares of Apple were down for a second day in a row, bringing losses this week to more than 6%. AAPL YTD mountain Apple Secondly, Niles said Huawei's resurgence could pose a threat to Apple.
Persons: Dan Niles, Satori, Niles Organizations: Apple, Twitter, Bloomberg News, Street Journal, Revenue Locations: China, Shenzhen
There's nothing close to a buck on the value menu, according to menus observed by Insider across the US. While sitting in line for a McDonald's drive-thru, Anne Arroyo, a TikToker who goes by @anna2morrow, zoomed in on the fast food chain's Dollar Menu. AdvertisementAdvertisement"McDonald's has a dollar menu right now without a single item that costs $1," she said in the video said in a video she posted. Several commenters wrote about how McDonald's dollar menu pricing was different across the country. A commenter who said they were from Florida wrote that their McDonald's dollar menu drinks cost $2.79.
Persons: McDonald's, Anne Arroyo, Arroyo, Nancy Luna, Chipotle Organizations: Service, Consumer Locations: Wall, Silicon, Niles , Ohio, McDonald's, Florida, Southern California, Orange , California
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI'd much rather own Nvidia over Apple, says Satori Fund Founder Dan NilesHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Dan Niles, Brian Sullivan, Organizations: Apple, CNBC
CNN —Frasier has reentered the building. More than two years after a reboot of the hit 90s sitcom “Frasier” was announced, a teaser for the new show, featuring a reworking of the classic theme music, was released by Paramount+ on Tuesday. Kelsey Grammer as Frasier Crane is joined by new cast members Jess Salgueiro and Jack Cutmore-Scott in the upcoming "Frasier" reboot. Toks Olagundoye will play Olivia, Alan’s colleague and head of the university psychology department; Jess Salguiero will play Freddy’s roommate, Eve; and Anders Keith will appear as Frasier’s nephew, David. “Frasier” premieres on Paramount+ on October 12.
Persons: CNN — Frasier, Frasier ”, Kelsey Grammer, Frasier Crane, Frasier, Grammer, “ Frasier ”, Martin, Niles, Jess Salgueiro, Jack Cutmore, Scott, Chris Haston, ” Grammer, ITV’s, Frasier’s, Freddy, Nicholas Lyndhurst, Alan, Toks, Olivia, Alan’s, Jess Salguiero, Freddy’s, Anders Keith, David Organizations: CNN, Paramount, Boston Locations: Boston, Seattle, British
REUTERS/Jim Young/File PhotoAug 15 (Reuters) - Home Depot (HD.N) on Tuesday reported a smaller-than-expected drop in quarterly same-store sales and topped profit estimates, as Americans spending on small-scale projects countered a pause in larger home remodeling and renovation work. "While there was strength in categories associated with smaller projects, we did see continued pressure in certain big-ticket, discretionary categories," Home Depot CEO Ted Decker said in a statement. Customer transactions fell for the ninth straight quarter, down 1.8% in the second quarter, but smaller than the 4.8% fall in the first quarter. Comparable sales fell 2% in the quarter, while analysts had expected a 3.54% drop, according to Refinitiv IBES data. "Whether the bottoming in the housing market would translate to sales or not - that's where there is caution from investors," Feldman said.
Persons: Jim Young, Ted Decker, Depot's, Wells, Joe Feldman, Feldman, Deborah Sophia, Sriraj Organizations: REUTERS, U.S, Walmart, Home, Advisory, Thomson Locations: Niles , Illinois, Bengaluru
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