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The advanced manufacturing services company posted non-GAAP earnings of $1.86 per share, greater than the $1.80 earnings per share expected by analysts polled by FactSet. The company reported per-share earnings of 26 cents, greater than the 14 cents earnings per share consensus estimate from FactSet. It guided for revenue from $4.75 billion to 4.85 billion, lower than the $4.86 billion expected by analysts. The home improvement company reported $4.56 earnings per share, greater than the $4.47 expected by analysts polled by FactSet. Zoom's earnings guidance for the third quarter and the full year also topped expectations.
Persons: Fabrinet, Jefferies, Nordson, Macy's, Lowe's, Marvin Ellison, — CNBC's Michelle Fox, Alex Harring, Jesse Pound Organizations: FactSet . Revenue, Dick's, Refinitiv, FactSet, Revenue, Emerson, JPMorgan Locations: Revenue, FactSet
Here's how the company did:Earnings: $1.34 per share, adjusted, vs. $1.05 per share as expected by analysts, according to Refinitiv. $1.34 per share, adjusted, vs. $1.05 per share as expected by analysts, according to Refinitiv. Zoom's revenue grew 3.6% year over year in the quarter that ended on July 31, according to a statement. Three months ago Zoom said it was looking for $4.25 to $4.31 in adjusted earnings per share and $4.465 billion to $4.485 billion in revenue. Analysts polled by Refinitiv had predicted that Zoom would produce $4.30 in adjusted earnings per share and $4.49 billion in revenue.
Persons: Eric Yuan, Covid, Refinitiv, Kelly Steckelberg, Steckelberg Organizations: Nasdaq, Management Locations: New York, Refinitiv
After three years of haphazard plans for getting workers back at their desks, the return-to-office movement has entered a phase of remorse. Envoy interviewed more than 1,000 U.S. company executives and workplace managers who work in-person at least one day per week. Kathy Kacher, a consultant who advises corporate executives on their return-to-office plans, is surprised the percentage isn't higher. "A lot of executives have egg on their faces and they're sad about that." The 'great resignation' to the 'great regret'As some business leaders accept hybrid work as a permanent reality, others are backtracking on earlier pledges to let employees work from home on a full or part-time basis.
Persons: Larry Gadea, it's, Kathy Kacher, pushback, Kacher, Who's Organizations: CNBC, Alliance Services, WFH Research, Disney, New York Times, Research, Companies Locations: U.S, BlackRock, New York City
watch nowZoom is "doubling down" on its technical investments in the Asia-Pacific region as it seeks to strengthen growth, said the video communications company on Friday. We made a strong commitment about two years ago to really turn on the speed and step on the gas," Abe Smith, Zoom's head of international, told "Squawk Box Asia." watch nowHowever, Smith said Zoom is "extremely optimistic" about the growth of its phone product in Asia Pacific. Zoom's A.I. Zoom's big bet on AI also includes an investment in Anthropic, an AI safety and research company, back in May.
Persons: Abe Smith, Zoom's, Smith Organizations: Microsoft Locations: Asia, Pacific, Singapore, India, Chennai, Bangalore, Asia Pacific, Anthropic
Jim Cramer's guide to investing: Never buy all at once
  + stars: | 2023-06-29 | by ( Julie Coleman | ) www.cnbc.com   time to read: +2 min
With that strategy, you're better protected if the price goes lower or if something should go wrong at the company. "When you buy all at once, you're basically declaring that the stock absolutely won't go any lower," Cramer said. For example, Zoom , a Wall Street favorite during the Covid-19 pandemic, plunged from a $588 high in October 2020 to the mid-seventies less than two years later. But Cramer said the distinction between a damaged stock and a damaged company can be difficult to discern, and at the end of the day, "you never really know." "Never buy a position all at once because what you think is merely a damaged stock might turn out to be a damaged company.
Persons: CNBC's Jim Cramer, Cramer, Cisco — Organizations: CNBC's Charitable Trust, Microsoft, Google, Cisco Locations: Washington
But it shelved the plan, citing “noticeable” falls in pasta prices. Pasta prices dipped in May compared with April, though provisional official data released Wednesday showed that they ticked up again this month. Broader food price inflation, albeit slowing, is still high in Italy and elsewhere. Concerns have grown that retailers and food producers are deliberately keeping prices high to boost profit margins — claims they strenuously deny. That meant they had “locked in higher prices” for longer, he told a gathering of central bankers in Portugal.
Persons: Danni Hewson, AJ Bell, Pasta, Remo Casilli, Andrew Bailey, , Mintec, Andrew Woods, , Jack Allen, Reynolds, That’s, Christine Lagarde, ” Nestlé, ” Lagarde, Jeremy Hunt, , Cristiano Laurenza, ” — Valentina Di Donato, Hanna Ziady Organizations: London CNN, CNN, , Bank of England, Labor, European Union, Capital Economics, European Central Bank, Wednesday, Competition, Markets Authority, Unione Italiana Food Locations: Italian, Italy, United Kingdom, United States, France, Germany, Russia, Ukraine, Cecco's, Fara San Martino, Portugal, Europe, European, , Sweden
It's Ford (F), whose stock has jumped 15% since its $12-per-share close on May 8. F 1M mountain Ford Motor's stock performance over the past month. When granted access, current electric vehicles from Ford and GM will have to use an adapter at Tesla's charging stations. "They have to adopt at this point," suggesting they'll also likely have to rely on a Tesla partnership. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: It's Ford, Tesla, Wall, Ford, Gene Munster, Munster, they'll, we've, Jim Cramer's, Jim Cramer, Jim, Al Drago Organizations: Nasdaq, Ford, General Motors, GM, EV, Deepwater Asset Management, CNBC, Tesla, Wall Street, Management, Ford Motor Co, Washington Auto, Washington , D.C, Bloomberg, Getty Locations: , Washington ,
I AM NOT a morning person—in fact, I’m barely an afternoon one. Having an internal clock with the same operating hours as a Berlin nightclub was fine during lockdown when I could roll onto a 9 a.m. Zoom in my pajama top that, on a laptop screen, looked enough like a blouse to fool colleagues. But 100% remote work has become a more distant memory than “Tiger King,” and recently, my work obligations have required me to schedule in-person morning meetings and interviews and to arrive suitably attired.
CNBCs Jim Cramer told investors on Friday to brace themselves for the week ahead as Washington teases a resolution to the debt ceiling crisis. "If we do we get a debt ceiling deal, it'll certainly move stocks higher, bringing tons of sidelined cash back into the market, even if it's earning more than 5%. Investors also should look out for Monday's Zoom earnings report, which is scheduled to be released after market close. Friday should finally bring a debt ceiling deal, according to Cramer. "Unlike 2011, where the debt limit was an obscure issue that snuck up on us, this year the debt ceiling debacle is well known and weighing down the entire country."
Michael Burry invested a lot of money into the stock market last quarter, according to 13F filings. The "Big Short" investor who has held a bearish tilt towards stocks initiated 17 new positions last quarter. These are the top 10 stocks held by Burry's Scion Asset Management as of March 31. Burry posted on Twitter on multiple occasions over the last few months that he had a bearish view on stocks. These are the top 10 stocks held by Burry's Scion Asset Management as of March 31.
Concern about a potential U.S. government default has only mounted in recent days, contributing to back-to-back weekly losses in the S & P 500. By Feb. 7, 2012, the S & P 500 closed above its late-July peak. A similar rationale seems to explain why TJX Companies (TJX) had the third-best relative performance, falling only 5.9% during the 2011 debt-ceiling jitters. TJX had a great rest of the year, too, gaining 22% from the S & P 500 index's 2011 August bottom to year-end. What's more, 12 Club stocks finished 2011 higher than their July 22 close, the S & P 500's late-July peak that year.
On Monday morning, Sarah Isenberg began her workday by logging onto a 9:30 a.m. Zoom session with a bunch of strangers. For the next three hours, they worked alongside each other in mostly silence, breaking every hour or so for collective stretching or deep breathing. Welcome to the world of "productivity babysitters," "accountabilibuddies" and "procrastination nannies" — paid services to keep tabs on you for a set time period to help you get work done. "At the base level, productivity babysitters are someone who plays the role of the person that says, 'Keep going,'" Jeremy Redleaf, a Caveday co-founder, tells CNBC Make It. Redleaf likens the cave experience to a fitness class or trainer, but instead of training physical muscles, you train your focus.
And in these moments of economic uncertainty and market volatility, investors should look to buy up the stocks of companies with the highest-quality balance sheets. The Club's Big Tech holdings — Google parent Alphabet (GOOGL), Meta Platforms (META), Apple (AAPL), Microsoft (MSFT) and Amazon (AMZN) — check that box. Alphabet was the group's biggest gainer Wednesday, climbing 2.3%, followed by Meta and Microsoft, which rose 1.9% and 1.8%, respectively. META 5D mountain Meta Platforms (META) five-day performance. The benefits of a sturdy balance sheet are manifold, especially when it comes to the cash piles Big Tech companies have accumulated.
So You Want to Turn an Office Building Into a Home? There’s an appealing simplicity to the idea of converting office buildings into housing. Basically, they did this:How to Turn a 26-story Office Building Into a 30-story Apartment Building Cut a hole through 23 floors of the building. How to Turn a 26-story Office Building Into a 30-story Apartment Building Cut a hole through 23 floors of the building. That could change with tax abatements and subsidy programs, or if outdated office buildings lose so much value that the cost of acquiring them plummets.
Hims & Hers Health — Shares of the telehealth stock soared by 17% after the company reported quarterly results that surpassed estimates. However, Target's full-year earnings guidance came in below expectations. Zoom's full-year revenue guidance came in lighter than expected, but topped estimates on its earnings guidance for 2023. Norwegian Cruise Line Holdings — The cruise company fell 12% after reporting a wider-than-expected loss for the fourth quarter. Analysts surveyed by Refinitiv had forecast an 85 cents per share loss on revenue of $1.5 billion.
Sign up for my Top 10 Morning Thoughts on the market email newsletter for free 2. RBC Capital calls General Electric (GE) a buy ahead of next week's analyst day; ahead of separation of energy and power businesses into GE Vernova. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Zoom shares climbed almost 7% in extended trading on Monday after the video chat company reported fiscal fourth-quarter results that exceeded analysts' estimates and offered optimistic earnings guidance for the year. Here's how the company did:Earnings: $1.22 per share, adjusted, vs. 81 cents as expected by analysts, according to Refinitiv. $1.22 per share, adjusted, vs. 81 cents as expected by analysts, according to Refinitiv. Zoom sees between $4.435 billion to $4.455 billion in revenue, implying 1.1% growth, while analysts were expecting sales of $4.6 billion. During the fiscal fourth quarter, Zoom said it would introduce email and calendar services, along with a virtual agent chatbot for handling customer service inquiries.
Check out the companies making headlines in midday trading Tuesday. Oak Street Health — Shares surged more than 30% after the Wall Street Journal reported CVS Health was close to an agreement to buy the primary-care provider for $10.5 billion. Sweetgreen — Shares fell about 6% after Cowen downgraded the salad chain's stock to market perform from outperform, citing "deteriorating value perceptions." ZoomInfo — Shares of the software company fell 1.7% following the company's quarterly results for the latest period. Leggett & Platt — Shares fell 5% during midday trading after Leggett & Platt reported disappointing earnings after the market closed on Monday.
Deutsche Bank turnaround victory is really a loss
  + stars: | 2023-02-02 | by ( Liam Proud | ) www.reuters.com   time to read: +3 min
LONDON, Feb 2 (Reuters Breakingviews) - In many ways, Christian Sewing has successfully rejuvenated Deutsche Bank (DBKGn.DE). Counterparties no longer fret about the German lender’s solvency, and he’s axed 3 billion euros of costs since starting as chief executive in 2018. The centrepiece of Sewing’s turnaround, however, was an 8% return on tangible equity (ROTE) target for 2022, which he’s effectively missed. The main question now is whether Sewing’s 2022 miss makes his 2025 ambitions even more farfetched. Sewing wants to cut another 2 billion euros in the coming years by closing retail branches, merging IT systems and decommissioning old ones.
Samsung Galaxy S23 Ultra hands-on and how to preorder
  + stars: | 2023-02-01 | by ( Mike Andronico | ) edition.cnn.com   time to read: +9 min
The S23 Ultra seems like a conservative upgrade on the surface, cramming a faster processor and some quality-of-life updates into a familiar design. Here’s what we think about the Galaxy S23 Ultra after getting our hands on one for a few hours. Galaxy S23 Ultra price and preordersThe Galaxy S23 Ultra is available for preorder now starting at $1,200 with 256GB of storage and in your choice of Phantom Black, Cream, Green or Lavender, with units set to ship on Feb. 17. Same slick design with a wild new cameraMike Andronico/CNNWe wouldn’t blame you for mistaking the Galaxy S23 Ultra for last year’s model at a quick glance. Just like its predecessor, the S23 Ultra feels great to hold, with flat edges that give it some extra grip over the curvier S23 and S23+.
Redis Names Former Five9 CEO to Head Database Startup
  + stars: | 2022-12-05 | by ( Belle Lin | ) www.wsj.com   time to read: +4 min
Database startup Redis Ltd. has named Rowan Trollope its new chief executive officer, effective Feb. 1. Mr. Trollope was CEO of the cloud-based customer-service software firm Five9 Inc. until Nov. 28, and had served in the role since 2018. After Mr. Trollope’s departure, former Five9 CEO Mike Burkland returned to his previous post. At Redis, Mr. Trollope will succeed Ofer Bengal, who co-founded the startup with Yiftach Shoolman in 2011 and has served as CEO since its founding. Mr. Trollope led Five9 through its plans to merge with Zoom Video Communications Inc. in September of last year.
Abercrombie & Fitch – Shares of the retail stock jumped 19% after the apparel retailer beat Wall Street's revenue forecasts for the third quarter and posted unexpected quarterly profit. Deutsche Bank reiterated the stock as buy and said it doesn't see any meaningful changes coming to its direct-to-consumer strategy. Best Buy – Best Buy's stock surged 11% after the consumer electronics retailer beat Wall Street's estimates and maintained its outlook for the holiday period. Demand remains below its pandemic heights, but Best Buy indicated its faring well even as inflation weighs on consumers' pockets. The stock slipped even after the company beat top and bottom line estimates for its latest quarter and better-than-expected comparable store sales.
Citi lowers DVN price target by $2 pe share to $78; keeps buy rating. Piper Sandler cuts Club holding Amazon (AMZN) price target to $119 per share from $125. Honeywell (HON), also a Club stock, is an underappreciated tech franchise, JPMorgan says. Zoom Video (ZM) catches multiple price target cuts 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.
A crypto crash, worsening results and insider selling didn't faze Ark Invest's Cathie Wood, who this week doubled down on a of host of her innovation stocks, including Coinbase , Tesla and Roblox . Wood snapped up shares of six companies for her flagship ARK Innovation ETF on Wednesday, including adding to some of her largest holdings, Zoom Video and Tesla. The popular investor has been adding to her Coinbase stake for two straight days, purchasing 420,000 shares Tuesday and 207,527 shares Wednesday for ARKK. Shares of the crypto exchange plunged 19.3% over the past two days as bitcoin dropped to its lowest since November 2020 amid the potential collapse of popular crypto exchange FTX. Wedbush's Dan Ives removed Tesla from the firm's "Best Ideas list" after what he called a "very nervous few months" for Tesla shareholders amid the "Twitter train wreck disaster."
Lyft (LYFT) downgraded to in line from outperform (hold from buy) at Evercore, one of many negative Wall Street notes. Price target cuts: Credit Suisse to $122 per share from $137 and Baird to $120 from $140. Raymond James cuts price target on Palantir (PLTR) to $15 per share from $20 but has strong buy. Meanwhile, multiple price cuts on Celanese. Mizuho cut price target on cloud data provider Snowflake (SNOW) to $185 per share from $225 but keeps buy rating.
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