DIRS.INFO The most relevant business & tech news

☆ Stock market today: Indexes rise as traders assess weak May retail sales data
▼ + stars: | 2024-06-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Weak retail sales data on Tuesday sent bond yields lowersMonth-to-month sales rose 0.1%, below estimates. Stocks rose as investors assessed the data's impact on rate cut forecasts. AdvertisementUS stocks edged up on Tuesday after retail sales data for May came in weaker than expected, sending Treasury yields lower. US consumers appeared to cut back last month, with month-over-month sales rising 0.1% in May, below estimates. AdvertisementHere's where US indexes stood shortly after the 9:30 a.m. opening bell on Tuesday:Here's what else happened today:AdvertisementIn commodities, bonds, and crypto:

Persons: Stocks, —, Quincy Krosby, Powell Organizations: Service, Nasdaq, Federal, LPL, Fed, Here's

☆ These are the most popular trades today — and the best contrarian trades to go against the crowd
▼ + stars: | 2024-06-18 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

By far, the most dominant trade on Wall Street is going long the "Magnificent Seven." Investors are the most bullish they've been on the mega-cap tech stocks going back to October 2020, the firm found. In fact, about 69% of respondents were bullish on the group, making the Magnificent Seven the most crowded trade for 15 straight months. One highly contrarian trade Bank of America identified could be going long bonds. Going long oil is another contrarian trade that could work as an hedge against geopolitical risk, the Wall Street firm said.

Persons: they've, What's, BofA Organizations: Bank of America Securities, Bank of America

☆ Adobe is having a terrible month
▼ + stars: | 2024-06-18 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

On Monday, the Department of Justice sued, saying Adobe violated consumer protection laws by hiding expensive fees and making it difficult to cancel subscriptions. Regulators said in the complaint that Adobe entices people to "enroll in its default, most lucrative subscription plan without clearly disclosing important plan terms." Earlier this month, the tech giant asked users to sign new terms with language that some thought implied that their content could be reproduced, displayed, or modified by Adobe — a big concern since Adobe is pushing hard into generative AI. AdvertisementThe news even frustrated Adobe employees, who complained internally about the company's poor communication, Business Insider reported last week. "Pretending that this wasn't intentional only makes Adobe and its employees look even more pathetic," said Sasha Yanshin on X. Yanshin said that he canceled his Adobe subscription after many years as a customer.

Persons: —, Maninder, David Wadhwani, Dana Rao, Adobe's, Sasha Yanshin, Yanshin Organizations: Service, Department of Justice, Federal Trade Commission, Business, Regulators, Adobe, DOJ, Prosecutors

☆ Disease, drought and alternative fruits: The orange juice industry is in crisis
▼ + stars: | 2024-06-18 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +3 min

A worker at a citrus fruit farm separates the tangerines for sale on June 6, 2024 in Piedade dos Gerais, in Minas Gerais State, Brazil. Pedro Vilela | Getty Images News | Getty ImagesThe orange juice industry is reeling. The crisis has even prompted some orange juice manufacturers and blenders to explore whether alternative fruits, such as mandarins, apples and pears, can be used to dilute the drink. Bottles of Simply Orange orange juice are displayed for sale in a grocery store on September 28, 2023 in Los Angeles, California. High incidence of citrus greening

Persons: Pedro Vilela, Kees, Mario Tama, What's, greening, —, Greening Organizations: Getty, Vegetable Juice Association, CNBC, Intercontinental Exchange Locations: Piedade dos Gerais, Minas Gerais State, Brazil, Los Angeles , California, New York, Florida

☆ Treasury yields tick higher as traders assess timeline of interest rate cuts
▼ + stars: | 2024-06-17 | by ( Katrina Bishop | ) www.cnbc.com time to read: +1 min

The 10-year Treasury yield was trading 2 basis points higher at 4.236% at 6:17 a.m. The 2-year Treasury note yield was also up around 2 basis points at 4.708%. "We're in a very good position right now to take our time, [to] get more inflation data, get more data on the economy, on the labor market, before we have to make any decisions ... Last week, the producer price index — a measure of inflation at the wholesale level — came in lower than expected for May, boosting hopes of a Fed rate cut and sending Treasury yields lower. The central bank opted to hold rates steady at 5.25% to 5.50% last week, and indicated that just one rate cut would take place this year.

Persons: Kashkari, It's Organizations: CBS News Locations: U.S

☆ Treasury yields tick higher as traders asses timeline of interest rate cuts
▼ + stars: | 2024-06-17 | by ( Katrina Bishop | ) www.cnbc.com time to read: +1 min

The 10-year Treasury yield was trading nearly 3 basis points higher at 4.238% at 4:17 a.m. The 2-year Treasury note yield was up around 3 basis points at 4.717%. "We're in a very good position right now to take our time, [to] get more inflation data, get more data on the economy, on the labor market, before we have to make any decisions ... Last week, the producer price index — a measure of inflation at the wholesale level — came in lower than expected for May, boosting hopes of a Fed rate cut and sending Treasury yields lower. The central bank opted to hold rates steady at 5.25% to 5.50% last week, and indicated that just one rate cut would take place this year.

Persons: Kashkari, It's Organizations: CBS News Locations: U.S

China's retail sales beat expectations in May, climbing 3.7% compared with a year ago, beating expectations of a 3% rise from a Reuters poll of economists. However, other economic metrics, such as industrial output and fixed asset investment, missed Reuters forecasts. Industrial output grew by 5.6% year-on-year, compared to the 6% increase expected, while fixed asset investment rose 4% compared to last May, just shy of the 4.2% forecast by the Reuters poll. On the other hand, the miss in fixed asset investment was dragged by a steeper drop in real estate investment. NBS said that excluding real estate, total fixed asset investment was 8.6% higher compared to last May.

Organizations: Reuters, National Bureau, Statistics, NBS Locations: Hangzhou, Zhejiang Province, China

☆ The unloved stock market rally: Why so many investors find it hard to embrace this run to records
▼ + stars: | 2024-06-15 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The S & P 500 has made an all-time high on nearly thirty days this year, four of them this past week. The main S & P is up more than 3% in the second quarter while its median stock is off 5% quarter to date. .SPX mountain 2024-03-29 S & P 500 quarter to date The S & P 500 has added $5.5 trillion in market capitalization in 2024, with roughly half kicked in by the Big Three. Wall Street strategists as a group project no upside for the S & P 500 in the second half , their average and median targets both below Friday's closing level. The weekly American Association of Individual Investors survey shows the spread between bulls and bears narrowing lately even with the S & P grinding higher.

Persons: we've, FANG, That's, It's, Jerome Powell's, Chris Verrone, I've Organizations: Microsoft, Apple, Nvidia, Investment, Treasury, Federal Reserve, Citi U.S, CPI, Fed, American Association of

☆ We're picking up more shares of an industrial stock on weakness pre-breakup
▼ + stars: | 2024-06-14 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Following Friday's trade, Jim Cramer's Charitable Trust will own 1,125 shares of DD, increasing its weighting in the portfolio to 2.7% from 2.5%. 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. 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.

Persons: Jim Cramer's, Stocks, Ed Breen, Jim Cramer, Jim Organizations: DuPont, DD, Treasury, Electronics, CNBC Locations: Nucor

☆ Stocks making the biggest moves premarket: Adobe, Hasbro, GameStop and more
▼ + stars: | 2024-06-14 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

GameStop — The meme stock dipped 1.1% after Keith Gill, known as "Roaring Kitty," seemingly increased his ownership in GameStop. He appears to be holding 9.001 million GameStop shares and over $6 million in cash, according to a screenshot he posted to Reddit. JPMorgan upgraded shares to overweight from neutral on Friday, saying Adobe is poised for "smoother sailing ahead" after its strong quarterly print. Hasbro — Bank of America upgraded the toymaker to buy from neutral, sending shares 1.7% higher. On the other hand, the company saw $727 million in revenue, topping the $725 million estimate from analysts.

Persons: Keith Gill, Adobe, RH, LSEG, ZScaler, Alex Harring, Michelle Fox Theobald Organizations: GameStop, Adobe, JPMorgan, Hasbro — Bank of America, Wall, Boeing, New York Times, Federal Aviation Administration, Zero Trust Network Security

☆ Treasury yields slide once again as traders weigh this week's U.S. inflation data
▼ + stars: | 2024-06-14 | by ( Katrina Bishop | ) www.cnbc.com time to read: +2 min

Yields and prices move in opposite directions and one basis point is equivalent to 0.01%. The 10-year Treasury yield was trading around 4.211% at 6:29 a.m. The 2-year Treasury note yield was down 1 basis point at 4.679%. U.S. Treasury yields fell again on Friday as data released this week pointed to easing inflation. Correction: A previous version misstated the magnitude of a decline in the 10-year Treasury note yield.

Persons: Henry Allen, — Jeff Cox Organizations: U.S, Treasury, Rabobank, Deutsche Bank, U.S . Federal, US, University of Michigan

The firm upgraded the ingredients maker to buy from neutral but lowered its price target to $48 per share from $50. "Though these items might not help earnings until 2025, we believe visibility surrounding them could improve in coming months and send the share price higher," he added. Lovallo has a $198 price target for Lennar, reflecting 30.1% in upside. Analyst Raimo Lenschow upgraded the marketing automation stock to overweight from equal weight and upped his price target by $4 to $29. Singlehurst raised her price target to $58 from $54.20, but the new forecast implies nearly 2% downside from Tuesday's close.

Persons: Goldman Sachs, Thomas Palmer, — Brian Evans, Edward Jones, Logan Purk, — Jesse Pound, John Lovallo, Lovallo, — Alex Harring, Oppenheimer, Colin Rusch, Rusch, Alex Bradley, Alex Harring, Raimo Lenschow, Lenschow, Wells, Steven Cahall, Wedbush, Michael Pachter, Pachter, Keith Gill, Piper Sandler, Valvoline Piper Sandler, Peter Keith, Keith, VVV's algo, hasn't, Will Gaertner, Gaertner, Morgan Stanley, Mark Murphy, Keith Weiss, Brent Bracelin, Louise Singlehurst, Singlehurst, Fred Imbert Organizations: CNBC, Analysts, Citi, Diamond Green Diesel, AMD, Devices, Nvidia, UBS, Lennar, KB, Barclays, Wells Fargo, Paramount, GameStop, Products, LSEG, Google, AI, JPMorgan, Oracle Locations: California, Tuesday's, VVV, reaccelerate, ORCL

☆ Inflation slows in May, with consumer prices up 3.3% from a year ago
▼ + stars: | 2024-06-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The consumer price index showed no increase in May as inflation slightly loosened its stubborn grip on the U.S. economy, the Labor Department reported Wednesday. The monthly rate rose 0.3% in April while the annual rate was 3.3%. Though the top-line inflation numbers were lower for both the all-items and core measures, shelter inflation increased 0.4% on the month and was up 5.4% from a year ago. Housing-related numbers have been a sticking point in the Federal Reserve's inflation battle and make up a heavy share of the CPI weighting. Though the Fed doesn't use the CPI as its main inflation indicator, it still figures into the calculus.

Persons: Dow Jones, Price, Robert Frick, Joseph LaVorgna, FOMC Organizations: department's Bureau of Labor Statistics, Labor Department, Treasury, Dow Jones, Navy Federal Credit Union, Federal Reserve, CPI, Nikko Securities, Commerce Locations: U.S

☆ Billionaire investor Ryan Cohen beats Bed Bath & Beyond shareholder lawsuit
▼ + stars: | 2024-06-11 | by ( ) www.cnbc.com time to read: +2 min

Signage is displayed outside a permanently closed Bed Bath & Beyond retail store in Hawthorne, California, on May 1, 2023. The billionaire activist investor Ryan Cohen won the dismissal on Tuesday of a shareholder lawsuit accusing him of profitably cashing out of Bed Bath & Beyond shares too quickly as the home goods retailer was hurtling toward bankruptcy. Cohen revealed a 9.8% stake in Bed Bath & Beyond in March 2022 and pushed for changes that would include new directors and exploring a sale of the Buy Buy Baby brand. Bed Bath filed for bankruptcy in April 2023, and its common shares were canceled when its Chapter 11 plan became effective in September. The case is In re Bed Bath & Beyond Inc Section 16(b) Litigation, U.S. District Court, Southern District of New York, No.

Persons: Ryan Cohen, Dale Ho, Cohen, Lee Squitieri, Dave Wollmuth, Ho, Todd Augenbaum, Judith Cohen Organizations: Bed, U.S, GameStop, Forbes, Court, Southern District of Locations: Hawthorne , California, Manhattan, Chewy, Bed Bath, Southern District, Southern District of New York

☆ French IT firm Atos falls 12%, faces major share dilution after selecting rescue deal
▼ + stars: | 2024-06-11 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

This photograph taken on April 26, 2024 shows the headquarters of the French multinational information technology company ATOS in Bezons, near Paris. Atos said it would go ahead with a proposal by major shareholder David Layani, whose IT firm Onepoint held around 11% of Atos' share capital and voting rights as of December 2023 according to its website. The deal will nevertheless lead to a "massive dilution" of existing shareholders, who are set to hold less than 0.1% of share capital once it is completed, Atos said. Atos said Layani's deal included a stronger capital structure and provided the firm with enough financial liquidity to stay in business. Layani's deal is fronted by Onepoint, as well as investment company Butler Industries, IT company Econocom and some of Atos' financial creditors.

Persons: Ludovic MARIN, LUDOVIC MARIN, Atos, David Layani, Onepoint, Daniel Kretinsky Organizations: Getty, Butler Industries, Paris Locations: Bezons, Paris, AFP, French, London, Czech

☆ Oracle shares jump on Google and OpenAI deals despite earnings miss
▼ + stars: | 2024-06-11 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Larry Ellison, co-founder, chairman and chief technology officer of Oracle, speaks during the Oracle OpenWorld conference in San Francisco on Oct. 1, 2017. Oracle shares jumped as much as 9% in extended trading on Tuesday after the software maker announced cloud deals with Google and OpenAI, despite fourth-quarter results that fell short of Wall Street expectations. Organizations will be able to deploy workloads in Google and Oracle cloud data center regions without having to pay data-transfer charges, Oracle said. In an additional statement, Oracle said OpenAI has selected Oracle's cloud to provide additional computing capacity. During the quarter, Oracle said its database software would be available in five additional Azure data center regions, bringing the total to 15.

Persons: Larry Ellison, Oracle, OpenAI, Jim Lebenthal, Bill Baruch Organizations: Oracle, Google, Amazon Web Services, Microsoft Locations: San Francisco

☆ Stocks making the biggest moves after hours: Oracle, Rentokil, Rubrik and more
▼ + stars: | 2024-06-11 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

Oracle — The tech company's shares jumped nearly 9% after it announced cloud deals with Google and OpenAI, despite posting a miss on fiscal fourth-quarter results. Oracle posted adjusted earnings of $1.63 per share on revenue of $14.29 billion, while analysts expected earnings of $1.65 per share on $14.55 billion in revenue. Rubrik — Shares of the cloud data management company advanced 3% after beating first-quarter expectations on revenue. Rubrik reported $187 million in revenue for the period, while analysts polled by LSEG anticipated $172 million. Paramount — Shares slipped 0.4%, extending late-day losses.

Persons: LSEG, Rentokil, Nelson Peltz's Trian, Shari Redstone, Skydance, CNBC's David Faber Organizations: Oracle, Google, Nelson Peltz's Trian Partners, CNBC, Paramount, National

Millions around the world caught a glimpse of the North Korean men’s team in two World Cups. The secrecy surrounding the North Korean national team was also evident in the case of star player Han Kwang Song. Carl Recine/Action Images/ReutersEarning respectWhen An joined the North Korean national team upon receiving a call-up letter in 2002, he remembers not being immediately accepted by teammates. To be accepted by the squad, newcomer An had to prove himself to the other North Korean players. Although, as fate would have it, An met his former teammate and current manager of the North Korean national team, Sin Yong Nam, last March.

Persons: –, Yong Hak, Han Kwang, Han, “, ”, Yong, Son Heung, Pak Kwang, Choe, I’ll, ” Han, Yong Nam, ‘ It’s, ’ ”, “ Han’s, ‘, …, Kim Jong Hun, Jong Tae, Philip Fong, Kim, Jong Tae Se, Carl Recine, didn’t, Sin Yong Nam, Sin Organizations: CNN, Korean men’s, CNN Sport, North, Korean, Juventus, Qatari, Al, UN, North Korean, –, SC, Cagliari, South, Tottenham Hotspur, Radio Free Asia, Tokyo's, Getty, Portugal, DPRK, Thailand Locations: North Korea’s, East, Italy, Middlesbrough, England, South Africa, Portugal, North Korean, Japan, Qatar, North Korea, Myanmar, China, Pyongyang, South Korea, Austria, Tokyo, DPRK, Brazil, Ivory Coast, Korean, AFP, Korea

☆ Stock market heads into the week ahead at a record, but with some uneasiness underneath the surface
▼ + stars: | 2024-06-08 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The S & P 500 made a new record high, its 25 th of the year. And on the surface, there is a stolid calm that suggests a system in comfortable equilibrium, the market achieving a kind of homeostasis. Four of the past five days last week, the S & P 500 moved less than 0.2%. The S & P 500 is up almost 2% since its closing peak at the end of the first quarter, perhaps the moment of maximum belief in a seamless soft economic landing. Three stocks together now account for fully 20% of the S & P 500 market value, mocking the notion of diversification and dashing most active investors' hopes of beating the bogey.

Persons: Keith Gill, Michael Mauboussin, Scott Chronert Organizations: Nvidia, GameStop, Apple, Microsoft, Federal Reserve, Investment, Morgan Stanley Investment Management, Fed, Citi, CPI Locations: rebalancing, U.S

☆ Behind Boeing's decade-long struggle to launch astronauts on Starliner
▼ + stars: | 2024-06-08 | by ( Magdalena Petrova | ) www.cnbc.com time to read: +1 min

Boeing 's Starliner is a human-grade space capsule designed to take astronauts to and from the International Space Station. Boeing began work on the capsule in 2014, when it signed a $4.2 billion contract with NASA under the agency's Commercial Crew Program. "The entirety of the Commercial Crew Program was very much a new venture," said Caleb Henry, director of research at Quilty Space. Of the nearly $5 billion Boeing has received to develop Starliner to date, the company has spent $1.5 billion to cover delay overruns. SpaceX, meanwhile, has completed over a dozen crewed missions to space, launching both NASA astronauts and private citizens since 2020.

Persons: Caleb Henry, Henry, it's Organizations: Boeing, International Space Station, NASA, SpaceX, Elon

☆ Hong Kong will reportedly stop halting stock markets during typhoons and severe weather
▼ + stars: | 2024-06-07 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

8 storm signal raised for Super Typhoon Saola in Hong Kong, China, on Sept. 1, 2023. Hong Kong will no longer shut down its stock market during severe weather conditions, according to a Bloomberg report citing people familiar with the matter. The Hong Kong exchange typically halts trading when a typhoon signal or a so-called "black rainstorm warning" is issued. The previous CEO of Hong Kong Exchanges and Clearing, Nicolas Aguzin, told CNBC in 2022 that the bourse was reviewing that protocol. The Hong Kong exchange is expected to announce the proposed framework in the next few weeks, according to the people who spoke to Bloomberg.

Persons: Nicolas Aguzin Organizations: Super, Bloomberg, Hong, Hong Kong Exchanges, CNBC, bourse Locations: Hong Kong, China

☆ The utilities sector is up 10% in 2024. These four names still have room to run, Morningstar says
▼ + stars: | 2024-06-07 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

"We think the market was ignoring and underappreciating what utilities can accomplish," Travis Miller, energy and utilities strategist for Morningstar, told CNBC. Eric Holcomb announced that Microsoft will be constructing a $1 billion data center in La Porte, Indiana. Another name that is due to see a boost from AI data center growth is WEC Energy. The tech giant already has a data center that is under construction in the area, which is expected to open in 2026. "Microsoft's first data center represents 1,000 [megawatts] of electricity load, or over 10% of WEC's current load in the state," wrote Morningstar analyst Andrew Bischof in May.

Persons: Travis Miller, Morningstar, Entergy, Eric Holcomb, Miller, NiSource, Andrew Bischof Organizations: Morningstar . Utilities, CNBC, WEC Energy, Duke Energy, Indiana Gov, Microsoft, NiSource, WEC Locations: Morningstar, Thursday's, La Porte , Indiana, NiSource, Virginia, Mount Pleasant , Wisconsin

☆ China's exports grow more than expected in May, up by 7.6%
▼ + stars: | 2024-06-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's exports in May grew faster than expected, while imports missed forecasts, customs data showed Friday. Exports rose by 7.6% in May from a year a go in U.S. dollar terms, beating expectations for 6% growth, according to a Reuters poll. In April, China's exports rose by 1.5% year-on-year, while imports climbed by 8.4%. China's imports and exports to the U.S. and EU fell during that time, according to CNBC calculations of official data. China's exports to Russia fell during that time, while imports from Russia rose by 7.5%.

Organizations: BEIJING, Reuters, ., CNBC, Association of Southeast Locations: U.S, EU, Nations, Russia

Thomas received 103 gifts with a total value of more than $2.4 million between 2004 and 2023, the judicial reform group Fix the Court said in a report Thursday. Fix the Court's analysis found that Alito accepted 16 gifts worth a combined $170,095. Counting those gifts, Thomas' total two-decade haul is valued at nearly $4.2 million. The value and number of gifts Thomas received also eclipsed those accepted by eight retired or dead Supreme Court justices whose tenures overlapped his service on the court, which began in 1991. Antonin Scalia, a conservative justice who died in 2016 while on the court, accepted 67 gifts worth about $210,000 during his tenure, which began in 1986.

Persons: Clarence Thomas, Ruth Bader Ginsburg, Stephen Breyer, Samuel Alito, Neil Gorsuch's, Chip Somodevilla, Thomas, Alito, Harlan Crow, Sandra Day O'Connor, Antonin Scalia, William Rehnquist Organizations: Supreme, Getty, Congressional Locations: Washington ,, Grove

☆ Lululemon shares pop 12% despite lackluster earnings report and guidance
▼ + stars: | 2024-06-05 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Lululemon's full fiscal year guidance suggests the company is betting conditions will improve in the back half of the year. As growth in the Americas slows, Lululemon issued weak guidance for the current quarter. It expects revenue to be between $2.40 billion and $2.42 billion, just below estimates of $2.45 billion, according to LSEG. For the full year, Lululemon expects earnings per share to be between $14.27 and $14.47, ahead of the $14.11 that analysts had expected. It's expecting revenue to be between $10.7 billion and $10.8 billion, which is in line with expectations, according to LSEG.

Persons: Lululemon, Wall, Calvin McDonald, McDonald, Sun Choe Organizations: LSEG Locations: Shanghai, China, Americas

Search resuls for: "4.2"

25 mentions found