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Julia Stewart, the former CEO of Dine Brands, who is now founder and CEO of wellness company Alurx. Julia Stewart's rise to CEO was nothing like climbing a career ladder. She's currently the CEO of wellness company Alurx, which she founded in 2020. Sometimes, that meant moving to different regions within the same company, Stewart says. Instead, learning more about how individual restaurants brought in money opened up Stewart's career path.
Persons: Julia Stewart, Julia Stewart's, Stewart, She's, , Carl's, Burger, Stuart Anderson's, she'd, could've, IHOP's, Applebee's Organizations: Dine Brands, Dine, CNBC, San Diego State University, Burger King, Angus, Taco Bell, Taco, Applebee's Locations: Taco
If you're a higher earner and looking to boost tax-free retirement savings, there's a lesser-known strategy that could be worth considering. While Roth individual retirement accounts offer tax-free growth and other benefits, some investors earn too much for direct contributions. For 2024, the adjusted gross income limits for Roth IRA contributions are $161,000 for single filers or $240,000 for married couples filing jointly. However, so-called mega backdoor Roth conversions — which shift after-tax 401(k) contributions to a Roth account — can sidestep Roth IRA income limits for contributions. It's a "no-brainer" after maximizing other tax-advantaged options, assuming you don't need the cash for other goals, said certified financial planner Brian Schmehil, managing director of wealth management at The Mather Group in Chicago.
Persons: Roth, sidestep Roth, It's, Brian Schmehil, Schmehil Organizations: The Mather, Finance Locations: Chicago
Biden's team announced that its political operation, which includes the Democratic National Committee, raised $51 million in the same period. A guilty verdict is a "non-issue," said David Tamasi, a Republican fundraiser and a managing director at lobbying firm Chartwell Strategy Group. Tamasi raised money for Trump's 2020 campaign and for former New Jersey Governor Chris Christie's failed primary run against Trump last year. All of them are going back to help raise money for Trump, in spite of the guilty verdict. After not backing any of the Republican primary contenders, Schwarzman announced that he will support Trump's White House bid.
Persons: Trump, megadonors, Joe Biden, Andy Sabin, Donald Trump, Biden's, Republican megadonors, Ray Washburne, Washburne, Omeed Malik, Malik, David Tamasi, would've, he's, Tamasi, Chris Christie's, he'd, Jan, Blackstone, Steve Schwarzman, Schwarzman, Trump's, Axios, Michael Cohen Organizations: Republican, CNBC, Trump, Republican megadonors, RNC, Democratic National Committee, America, Republican National Committee, Chartwell, New, GOP Locations: Trump's, New York, Republican megadonors . Texas, Dallas, U.S, Mexico, Ukraine, Gaza, New Jersey, Trump's New York
How Prosecutors Made the Case Against Trump
  + stars: | 2024-05-30 | by ( Kate Christobek | ) www.nytimes.com   time to read: 1 min
For years, prosecutors debated, fought and even, in at least two cases, resigned over the fate of the Manhattan district attorney’s investigation into Donald J. Trump. Some legal experts predicted it would be the downfall of the district attorney, Alvin L. Bragg. But on Thursday, a jury swiftly and decisively vindicated the risky strategy that Mr. Bragg employed to bring 34 felony counts against the former president. Prosecutors were helped by state election law, two judges who allowed their novel legal theory to proceed and their ability to make the most of a high-risk witness, Mr. Trump’s former fixer, Michael D. Cohen. The jury’s verdict — guilty on all 34 felony counts — represented a landmark victory for Mr. Bragg, who claimed a place in history as the first prosecutor to indict, prosecute and convict a former U.S. president.
Persons: Donald J, Alvin L, Bragg, Prosecutors, Trump’s, Michael D, Cohen, , Mr Organizations: Trump Locations: Manhattan, U.S
Foot Locker surged Thursday after its quarterly earnings report showed signs that CEO Mary Dillon's turnaround plan is starting to pay off. At its highs of the session Thursday, Foot Locker was up nearly 32% before giving up some of those gains. That counts for something, especially when Foot Locker's stock entered Thursday down nearly 35% since the session before the March disaster. Encouragingly, Dillon told CNBC that Foot Locker and Kids Foot Locker saw positive comp-store sales. Foot Locker Why we own it: We are in Foot Locker for the turnaround.
Persons: Locker, Mary Dillon's, Dillon, Thursday's, Foot, Mary Dillon, Jim Cramer, Encouragingly, comps, Nike, we've, Jim Cramer's, Jim, Xavi Lopez Organizations: LSEG, CNBC, Nike, Holding, JD, Dick's Sporting Goods, Shoppers, Lightrocket, Getty Locations: Oregon, It's, Spain
One of Sweden's oldest burger chains wants its customers to stop eating so much red meat. Beef has the largest climate impact of any food, largely because cows burp methane and need vast amounts of land. Since then, Max Burgers has labeled menu items with their carbon footprints and started offering a lot more chicken and plant-based burgers. He added that because Max Burgers is family-owned, it can take more risks than publicly-traded fast food chains worried about their stock price. In 2016, the company quintupled its plant-based options, Török said, including a "green burger" that's been changed several times.
Persons: Max Burgers, Kaj Török, Török, we've, Taco Bell, Burger, Santo, he's Organizations: Service, Business, World Resources Institute Locations: Sweden, Norway, Denmark, Poland, Angeles, Los Angeles, Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed needs more 'confidence' that inflation will be moving sustainably lower: BofA's Mark CabanaMark Cabana, Bank of America Securities head of U.S. rates strategy, joins 'Squawk Box' to discuss the move in global bond yields, what it means for markets, the Fed's rate path outlook, and more.
Persons: Mark Cabana Mark Cabana Organizations: Bank of America Securities
Tesla is rehiring some of the nearly 500 Supercharger staff members Musk fired in April as a cost-saving measure amid challenging times at the EV company, Bloomberg reported earlier this month. Advertisement"Desperate times call for desperate measures," Musk told CNBC's David Faber in May 2023. At Tesla, for example, Musk told his employees that he would personally approve all new hires, according to an email obtained by Business Insider. Musk is also known to have fired employees who disagreed with his decisions. Other former Twitter employees and executives have sued Musk, accusing him of unpaid severance pay.
Persons: , Elon Musk, Tesla, Musk, CNBC's David Faber, Lex Fridman, Walter Isaacson, Musk's, Alec Levenson, " Levenson, Spencer Platt, Levenson, that's, Weeks, Kali Hays Organizations: Service, EV, Bloomberg, Twitter, Business, SpaceX, University of Southern California Marshall Center, BI, Tesla, New York Times, National Labor Relations, NLRB, Musk's SpaceX, Twitter's Locations: York
How did the ghoulish creatures known as anglerfish pull off the evolutionary feat that let them essentially take over the ocean’s sunless depths? It took peculiar sex — extremely peculiar sex. Scientists at Yale University have discovered that a burst of anglerfish diversification began some 50 million years ago as the ancestral line developed a bizarre strategy to ensure successful reproduction in the dark wilderness. To mate, tiny males would clamp with sharp teeth onto the bellies of much larger females. Some males would let go after mating while others would permanently fuse into the females.
Persons: anglerfishes, ” Chase Organizations: Yale University, Yale
CNBC Daily Open: Dow drops, Nvidia can't save Nasdaq
  + stars: | 2024-05-30 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Treasury yields weigh on Wall StreetThe S&P 500 snapped its three-day winning streak as Treasury yields climbed. Despite Nvidia's continued rise since its earnings report last week, the tech giant couldn't prevent the Nasdaq Composite from falling. Peltz dumps Disney stakeActivist investor Nelson Peltz has sold his entire stake in Disney, according to a person familiar with the matter. ConocoPhillips CEO Ryan Lance said the deal would immediately grow ConocoPhillips' earnings, cash flow and shareholder returns after the deal closes in the fourth quarter.
Persons: Nvidia's, Salesforce, Nelson Peltz, Peltz, Jay Rasulo, Bob Iger, Ryan Lance, Robert Isom, Vasu Raja, Raja, CNBC's Brian Evans Organizations: New York Stock Exchange, CNBC, Nasdaq, Dow Jones, Disney, ConocoPhillips, Oil, American Airlines, Dow Locations: New York City, Disney, Texas , New Mexico, North Dakota
Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Below $200 a share is the level we'd get interested in buying more Salesforce stock, Jim said. The industrial name will continue to be a beneficiary of the AI trade due to Eaton's booming data center business. Alphabet : If this mega-cap name experiences a move lower, investors should scoop up shares, Jim said. Nvidia : There's not much more to say about Nvidia in light of another blowout earnings report and the strong guidance accompanying it.
Persons: Jim Cramer's, Jim, Apple's, Goldman Sachs, Salesforce, We've, Danaher, he'd, Walt Disney, We're, Estee Lauder, Eaton, Ford, Motors, Mary Dillon's, It's, Linde, Eli Lilly, Mark Zuckerberg's, Morgan Stanley, we're, Stanley Black, we've, Wynn, Jim Cramer, Michael M Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Abbott Laboratories, Abbott Labs, Amazon Web Services, Broadcom, Dell, Samsung, Costco Wholesale, Coterra Energy, DuPont De Nemours, DuPont, The, Eaton, Ford, GE Healthcare, Honeywell, Jim, Linde, Microsoft, Nvidia, Palo Alto Networks, Palo Alto, Change, Procter & Gamble, Constellation Brands, Constellation, Modelo, Corona, Federal Reserve, TJX, Marshalls, Wynn Resorts, Jim Cramer's Charitable, Traders, New York Stock Exchange, Santiago, Getty Locations: China, Dover, Eaton, U.S, Maxx, HomeGoods, Wells Fargo, Macau, New York City
Mr. Met poses before the game between the Chicago Cubs and the New York Mets at Citi Field. To that end, the Mets will be working on development, production and distribution with Range Sports, a division of entertainment management firm Range Media Partners. Mets owner and hedge fund manager Steve Cohen is a minority investor in Range through his Point72 Ventures fund. The Mets will be focused on a variety of content, Havens said, from players talking about fashion or what they do in the offseason to storytelling around the culture of Mets fans. "That opens up a bunch of new opportunities to engage Mets fans and non-Mets fans," Havens said.
Persons: it's, Steve Cohen, John Malone's Liberty, David Bonderman, Scott Havens, Havens, Pete Alonso, Jorge Lopez, Will Funk, Greg Luckman, Bradley Cooper, Jack Harlow, Brock Purdy, LIV, WWE's, Cohen Organizations: Chicago Cubs, New York Mets, Citi Field, The New York Mets, Major League Baseball, NBA, NFL, Mets, Sports, Range Media Partners, Point72 Ventures, John, John Malone's Liberty Global, TPG, Business, Bloomberg Media, San Francisco 49ers, CW, LIV Golf, ACC football, WWE's NXT Locations: Queens , New York
Kohl's stock plummets 20% after massive earnings miss
  + stars: | 2024-05-30 | by ( Sean Conlon | ) www.cnbc.com   time to read: +2 min
Shoppers walk in front of a Kohl's store in Mount Kisco, New York. Kohl's shares plummeted more than 20% in premarket trading Thursday after the company posted a surprise loss per share, coming in well below Wall Street's expectations for a slight profit. Net sales decreased 5.3% to $3.18 billion compared with the year prior, with comparable sales down 4.4%. Kohl's expects full-year diluted earnings per share in the range of $1.25 to $1.85 — far lower than the $2.34 per share expected, according to LSEG. Kohl's announced in March that it would add similar in-store outposts of Babies R Us to about 200 locations.
Persons: Kohl's, LSEG, Tom Kingsbury, Kingsbury Organizations: LSEG, Wall Street Locations: Mount Kisco , New York
The retailer behind Gap, Banana Republic, Athleta and Old Navy blew past earnings estimates and beat on revenue, too. Here's how Gap did compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:Earnings per share: 41 cents vs. 14 cents expected41 cents vs. 14 cents expected Revenue: $3.39 billion vs. $3.29 billion expectedGap shares spiked more than 20% in extended trading Thursday. Comparable sales were up 1%, well ahead of estimates of down 1.9%. Comparable sales were up 5% after being down a staggering 13% in the year-ago period. Analysts didn't have expectations for Athleta's comparable sales.
Persons: Richard Dickson's, Richard Dickson, Dickson, Da'Vine Joy Randolph, Zac Posen, Anne Hathaway, Here's Organizations: Navy, LSEG, CNBC, Banana Republic Locations: New York, Banana Republic, Manhattan, Posen
Opinion | How Trump’s Team Blew It
  + stars: | 2024-05-30 | by ( Renato Mariotti | ) www.nytimes.com   time to read: +1 min
The criminal trial of Donald Trump didn’t have to end this way. If Mr. Trump’s lawyers had played their cards right, they most likely would have ended up with a hung jury or a misdemeanor conviction. The defense lost a winnable case by adopting an ill-advised strategy that was right out of Mr. Trump’s playbook. I have practiced criminal law for over 20 years, and I have tried and won cases as both a federal prosecutor and criminal defense attorney. The defense needs its own story, and in my experience, the side that tells the simpler story at trial usually wins.
Persons: Donald Trump didn’t, Alvin Bragg, Trump’s, I’ve, marshaling Locations: Manhattan
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. "I'm just really disappointed," one laid-off TikTok employee told Business Insider. This story is available exclusively to Business Insider subscribers. AdvertisementA second let-go employee who had worked at the company amid political attacks and business-strategy shifts described the layoffs as "an abrupt end to a very chaotic ride." AdvertisementLet-go TikTok staffers wondered, why now?
Persons: , I'm, Adam Presser, Zenia Mucha, Pappas, Presser, Mucha, ByteDance, TikTok Organizations: Service, Business, Big Tech, Google Locations: Brazil, France
Jeep reveals its first EV for America
  + stars: | 2024-05-30 | by ( Peter Valdes-Dapena | ) edition.cnn.com   time to read: +3 min
CNN —Jeep, widely known for making rugged off-road vehicles, has unveiled its first fully electric SUV for the North American market. The Wagoneer S will test the appetite of Jeep customers for a fully electric model. It comes at a time of waning interest in electric vehicles, even as regulatory requirements for them become more stringent. The new Wagoneer S has a sleeker, more aerodynamic shape than the Jeep Wagoneer models sold today. Jeep is working on putting the Wagoneer S Trailhawk into production, Filosa said in an interview with CNN.
Persons: Antonio Filosa, that’s, Stellantis, Peter Valdes, Filosa, , Gilles, Organizations: CNN, Jeep, North Locations: Europe, Canada, .
CNN —Senate Majority Leader Chuck Schumer and nearly two dozen Democrats pressed the Justice Department on Thursday to launch an industry-wide investigation into Big Oil for alleged collusion and price fixing. The lawmakers urged the DOJ to investigate the oil industry, “hold accountable any liable actors” and halt illegal activity. Last week, congressional Democrats launched an investigation into whether other US oil companies colluded with each other and OPEC. Regulators cited hundreds of text messages Sheffield exchanged with OPEC officials discussing pricing, production and oil market dynamics. “The strategy appears to have worked,” Schumer and his colleagues wrote to the DOJ.
Persons: Chuck Schumer, General Merrick Garland, Schumer, , , Elizabeth Warren, Amy Klobuchar, Bernie Sanders, Dick Durbin, Scott Sheffield, Sheffield “, ” Schumer, Sherman, Sheffield, ” Sheffield Organizations: CNN, Justice Department, Big Oil, Democrats, DOJ, Big, Federal Trade Commission, FTC, Sheffield, Pioneer Natural Resources, OPEC, Pioneer Locations: Texas, Sens
Still, when you're saving for something that's decades away, such as retirement, it's easy to feel like you're not doing enough or that you're falling behind without some context. Even if you're not doing as well as you'd like, you may be doing better than most. "Automating savings ensures consistency and discipline, making it easier to stick to your retirement savings goals." It's "essentially free money that can significantly boost your retirement savings," says Basso. "Don't treat your retirement savings like Vegas and go all in on something.
Persons: you've, Ashton Lawrence, Alyson Basso, Basso, couldn't, Andrew Herzog Organizations: Fidelity, Mariner Wealth Advisors, Hayden Wealth Management, CNBC Locations: Greenville , South Carolina, Middleton , Massachusetts, Plano , Texas, Vegas
Read previewThe US has accused China of covertly supporting Russia's invasion of Ukraine, and suggested that further US and NATO sanctions would be leveled against it. "What we've seen from China to Russia is not a one-off or a couple of rogue firms involved in supporting Russia," Campbell said, according to Reuters. "This is a sustained, comprehensive effort that is backed up by the leadership in China that is designed to give Russia every support behind the scenes." While many Western countries have put sanctions on Russia, China has remained a close economic ally, which has helped Russia finance its war. AdvertisementWhile Ukraine has support from many allies, including the US, UK, and Germany, their support has come in waves that have been disrupted by politics.
Persons: , Kurt Campbell, Campbell, he'd, Joe Biden, Xi Jinping Organizations: Service, NATO, Business, Reuters, North Atlantic Council, US Locations: China, Ukraine, Belgium, Russia, Europe, Beijing, Iran, North Korea, Germany
We’re at a crucial moment in the Ukraine war. After Congress’s monthslong delay in approving additional American aid — and the failure of the Ukrainian counteroffensive last year — Ukraine finds itself on the defensive. I found their observations about what is arguably the most consequential military conflict of the 21st century invaluable. After the failure of the Ukrainian counteroffensive last year and delays in American aid, we’ve seen Russians make gains on the ground and in the air. Vladimir Putin seems optimistic about the course of the war, and Ukraine is bracing for a new Russian offensive in northeast Ukraine.
Persons: Congress’s, , Frederick, Kimberly Kagan, David French, we’ve, Vladimir Putin Organizations: American Enterprise, Institute for Locations: Ukraine, Russia, Iraq
South Africans were on edge Thursday as votes trickled in from a tight national election, with early returns showing poor results for the African National Congress, the party that has governed the country for three decades. — for the first time — would need to form a coalition with one or more rival parties in order to stay in power. In South Africa’s parliamentary system, President Cyril Ramaphosa, the leader of the African National Congress, would need the support of members of the opposition in order to serve a second term. would significantly change South African politics, and also its policies, shifting the country away from a government dominated by a single party to one held together by fragile coalitions. in small municipalities, but has been fraught in large cities like Johannesburg, where it has led to political infighting.
Persons: , Cyril Ramaphosa Organizations: African National Congress Locations: Africa’s, Johannesburg
Shares of Salesforce dragged the Dow lower after it posted its first revenue miss in nearly 20 years. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS stocks continued a painful slide lower on Thursday as traders turned their attention to upcoming inflation data that could set the tone for the market as it heads into the summer months. ET, both indexes became stuck on several websites, though individual stock prices continued to update normally. Shares of Salesforce dragged the Dow as the stock dropped 20% after it reported its first revenue miss in almost 20 years.
Persons: Stocks, Salesforce, , Dow, David Russell Organizations: Service, Dow Jones, Dow, Treasury, Global, Barclays, Here's
Photographer: David Odisho/Bloomberg via Getty ImagesShares of Salesforce tumbled 20% Thursday morning, putting the stock on pace for its worst day in nearly 20 years. Its worst trading day on record is July 4, 2004, when shares fell 27% just days after the company went public. Salesforce expects second-quarter adjusted earnings per share of $2.34 to $2.36 on $9.2 billion to $9.25 billion in revenue. Goldman Sachs analysts reiterated their buy rating on the stock and said they view Salesforce as a "high-quality software franchise." Goldman Sachs analysts said in a note Wednesday that Salesforce is "an under-appreciated Gen-AI winner."
Persons: Marc Benioff, Benioff, David Odisho, Salesforce, LSEG, Salesforce's, Goldman Sachs, Morgan Stanley, — CNBC's Michael Bloom, Jordan Novet Organizations: Salesforce.com Inc, Bloomberg, Getty, Citi Locations: San Francisco , California, Francisco's
KFC recently introduced a value menu with meals starting at $4.99. But it’s been a long time since they used discounted meals as a strategy to drive traffic, noted Peter Saleh, restaurant analyst at BTIG. KFC launched its value menu earlier that month. A Burger King spokesperson confirmed to CNN that it plans to offer a $5 meal, without sharing more details. And more deals don’t mean that menu prices are dropping, or even staying the same.
Persons: Burger King, Taco Bell, Jack, Wendy’s, it’s, Peter Saleh, haven’t, , we’ve, ” Price, ” Saleh, Chris Kempczinski, , McDonald’s, Burger, Paul Weaver, Kempczinski, NOA, ” Cowen, Andrew Charles, Eva Marie Uzcategui, McDonald’s “, ” Charles, David Henkes, Josh Kobza, Henkes, BTIG’s Saleh Organizations: New, New York CNN, KFC, BTIG, Street Journal, National Owners Association, Bloomberg, Getty, CNN, Restaurant Brands Locations: New York, Technomic, Burger King
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