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That's pushed tech heavyweights and Club names such as Apple , Nvidia , Microsoft and Broadcom higher and the S & P 500 to record highs along with them. The market-cap weighted S & P 500, which we report on all time, has gained more than 4% since May 30. But, a version of the index that assigns each company the same influence, known as the S & P 500 Equal-Weight , has advanced only around 1%. The divergence helps explain why our trusted momentum indicator, the S & P Short Range Oscillator , has been closer to oversold territory than overbought during the run higher. Recent years haven't been so kind to them, with the stock underperforming the S & P 500 considerably over the past three years.
Persons: That's, Morgan Stanley, Wells, Banks, Abbott, We've, Lingo, Stanley Black, Decker, DuPont, DuPont —, Ed Breen, Lori Koch, Vimal Kapur, Jim Cramer, Darius Adamczyk, haven't, Jim Cramer's, Jim, Johannes Eisele Organizations: Apple, Nvidia, Microsoft, Broadcom, Wall Street, Federal, Abbott, Abbott Labs, Mizuho Securities, DuPont, Honeywell, Systems, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Wall, Afp, Getty Locations: Dover, Wells Fargo, Missouri, Abbott's, U.S, Decker, New York City
Things like Broadway-style shows, multicourse meals, buffets, pool access, and onboard activities are built into the price of a typical sailing. I'm also willing to pay a little more to select a cabin far away from elevators and loud entertainment venues. Room service offers a level of convenience that makes the delivery fee palatableAlthough some room service options remain complimentary, many now come with an extra fee. However, room service often comes with an additional fee. AdvertisementNonetheless, I'm happy to spend extra on premium cocktails, wine-tasting sessions with the onboard sommelier, and other unique drink experiences.
Persons: , who's, I've, I'm, Amanda Adler, Amanda Adler I'm Organizations: Service, Forbes, Business, Disney Locations: Havana, Norwegian, Alaska, Italy
Last May, Samir Bhavnani, a 47-year-old tech executive from San Diego, was planning a trip to Palm Springs, Calif., where he planned to propose to his girlfriend. “And $595 plus $595 doesn’t equal $2,300,” Mr. Bhavnani said. “Taxes, host fees and service fees basically doubled the price. I asked the owner what the fee breakout was, and they said it was $300 for cleaning and $300 for ‘air-conditioning.’ This is Palm Springs. On July 1, a sweeping new state law will ban hidden fees on purchases — including event tickets, hotel rooms and food delivery services — by requiring businesses to include all mandatory fees or last-minute charges in their advertised and displayed price.
Persons: Samir Bhavnani, Mr, Bhavnani Locations: San Diego, Palm Springs, Calif, Springs, California
Social media algorithms have led to a more meritocratic advertising landscape that the industry has been slow to catch up with, according to VaynerMedia CEO Gary Vaynerchuk. "The social media I grew up with... it was more like email marketing," the agency executive told CNBC's Tania Bryer at the Cannes Lions festival, a major fixture in the advertising world's calendar. Vaynerchuk co-founded restaurant booking platform Resy and was an early investor in the X social media platform, formerly known as Twitter. "Now we live in a world of social media over the last two, three years, five years, where the AI algorithms that give you the For You page, the content is finding the audience." "For You" is a feature of Chinese-owned social media app TikTok which serves a scrollable stream of videos based on trending content and on users' past usage of the app.
Persons: Gary Vaynerchuk, CNBC's Tania Bryer, Vaynerchuk Organizations: Cannes Lions
New York CNN —Airbnb has undermined users’ safety by scaling back its work to remove extremists from its platform, a former contractor alleged in a new whistleblower complaint. “Airbnb spent much of 2023 scaling back and undermining the work of its team tasked with removing individuals affiliated with dangerous and extremist organizations from the platform,” Whistleblower Aid, the organization representing Hernandez, said in a statement. Airbnb disputed Hernandez’s claims, saying that it continues to enforce against members of dangerous or extremist organizations. And in the following years, it pointed to that pledge when removing users associated with extremist organizations. Prior to her work at Airbnb, Hernandez worked as a researcher for the Terrorism Research and Analysis Consortium, an organization that tracks terrorist and hate groups, according to Whistleblower Aid.
Persons: New York CNN — Airbnb, Jess Hernandez, “ Airbnb, Hernandez, ” Hernandez, Airbnb, we’ve, , Brian Chesky, , Lauren Southern Organizations: New, New York CNN, Capitol, US Securities and Exchange Commission, Federal Trade Commission, NBC, CNN, White, Washington DC, Fox News, Terrorism Research, Consortium Locations: New York, Charlottesville , Virginia, Airbnb
To help fund the deal and TravelPerk's broader expansion efforts, the company also raised $135 million in debt financing from private equity firms Blackstone and Blue Owl. Avi Meir, TravelPerk's CEO and co-founder, told CNBC the deal would allow the company to turbocharge its growth in the United States. He expects the deal to double TravelPerk's U.S. revenues and make the country its biggest revenue-generating region by 2026. The Global Business Travel Association estimated that the US corporate travel sector was worth $329 billion in 2023. TravelPerk said its U.S. office footprint would expand to include AmTrav's offices in Boston, Chicago, Los Angeles and Miami.
Persons: Avi Meir, Meir, AmTrav, TravelPerk Organizations: CNBC, Blackstone, American Airlines, Business Travel Association, TravelPerk Locations: Chicago, U.S, United States, Britain, Boston , Chicago, Los Angeles, Miami
Crude oil futures rose Monday following their best week since April as traders sifted through mixed economic data out of China. U.S. crude oil and global benchmark Brent closed out last week nearly 4% higher, as analysts expect the market to tighten in the third quarter as summer fuel demand draws down inventories. Oil stockpiles should fall by 850,000 barrels per day in the third quarter, said Helima Croft, head of global commodity strategy at RBC Capital Markets. "It's more of a sense that this market is likely to get tighter as we go deeper in summer," Croft told CNBC's "Closing Bell Overtime" on Friday. Here are today's energy prices:"After three weeks of losses the oil complex finally made amends and gained some traction," said Tamas Varga, analyst at oil broker PVM.
Persons: Helima Croft, Croft, CNBC's, Tamas Varga Organizations: Brent, RBC Capital Markets Locations: China . U.S
Insider Today: Travel agents are back
  + stars: | 2024-06-16 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com   time to read: +5 min
This week's dispatchRob McElhenney is Business Insider's June 2024 digital cover star. Edmon de Haro for BITravel agents are backFollowing the pandemic-era lockdowns, people are hungry for travel. The interest in having someone else plan a vacation is returning travel agents to their '90s glory. How travel agents came roaring back. Art Wager/Getty ImagesEveryone's moving to TexasMovers from all corners of the US are flocking to Celina, Texas, a small town about 41 miles north of Dallas.
Persons: , Rob McElhenney, Sheryl Nields, Rob McElhenney's, Rob McElhenney breezed, would've, McElhenny, Samantha Rollins, Lucia Moses, Ryan Reynolds, McElhenney, Rob it's, de Haro, Zers, Z, Wager, Chelsea Jia Feng, Uma Naidoo, Naidoo, Liam Daniel, we're, Dev Patel's Organizations: Service, Business, Wrexham AFC, Wrexham, BI, Texas Movers, Getty, Cunard, Food, Harvard, Vivid Locations: Bali, Philadelphia, Culver City, Los Angeles, English, Wales, Wrexham, Houston , Texas, Texas, Celina , Texas, Dallas, Celina
Read previewThis as-told-to essay is based on a conversation with Seb, 32, about his commute from Hamburg to London for work. However, my team was switching back to in-person work, so it wasn't particularly fair for me to work completely remotely. My fastest time so far has been four hours and 44 minutes, and the longest has been close to six hours. Hamburg is a lot cleaner than London, and the roads are a lot quieter. It's not like I ended up with someone Spanish and got to live in a sunny beach destination in Spain.
Persons: , Seb, I'd, I've, packer, I'm, there's, It's Organizations: Service, Business, European Union, British Airways, London Heathrow, Hamburg Airport, Airport, Netflix, Spanish Locations: Hamburg, London, TikTok, Germany, Canary, England, Spain
Stock splits, long out of favor, are making a comeback. Notable stock splits in 2024(when distributed)Walmart 3-1 2/23/24Cooper Companies 4-1 2/16/24Texas Pacific Land 3-1 3/27/24Old Dominion Freight Line 2-1 3/27/24Nvidia 10-1 6/7/24Amphenol 2-1 6/11/24Chipotle Mexican Grill 50-1 6/25/24Broadcom 10-1 7/12/24Williams-Sonoma 2-1 7/8/24Cintas 4-1 9/11/24Sony Group 5-1 10/8/24Lam Research 10-1 10/3/24Why the comeback in stock splits? Stock splits are far less common now than 20 or 30 years ago. During the tech and internet bubble of the late 1990s, stock splits were common. By the mid-2000s, roughly 5% of the Russell 1000 members split their stock each year, and after the great financial crisis from 2008-2009, stock splits practically ceased.
Persons: Williams, David Kostin, Goldman Sachs, Russell, Chipotle Organizations: New York Stock Exchange, Stock, Walmart, Sonoma, Broadcom, Cooper, Pacific, Dominion Freight, Sony, Institutional, Nvidia, Risk, Financial Management, Lam Research, Booking Holdings, Costco, Micro, Spotify Locations: Williams, Sonoma
AdvertisementPassengers with disabilities or reduced mobility are legally entitled to special assistance without an additional charge when flying from the UK, the US, and many other countries. "We have been away lots of times and always had special assistance, so this was nothing new to us," Victoria told the BBC. AdvertisementIn a statement sent to Business Insider, a Ryanair spokesperson said special assistance is "provided by Bristol Airport's special assistance provider — not Ryanair." "We sincerely apologise to these passengers for any inconvenience caused as a result of Bristol Airport's special assistance provider's error and have assured that they will be fully compensated by Bristol Airport," the statement concluded. AdvertisementA spokesperson for Bristol Airport told BI that the situation is being investigated, and the couple will be contacted to "direct their complaint to the correct business partner for resolution."
Persons: , Victoria Gore, Andrew, Victoria Organizations: Service, BBC News, Ryanair, Business, Bristol Airport, Bristol Airport's, BBC, Kaunas Airport, Department of Transportation, Bristol, BI, ABM Locations: Spain, Andrew, Barcelona, Victoria, Lithuania, England, Bristol, Kaunas, Riga, Latvia
Others in my generation — I'm on the cusp between Gen Z and millennial — were on the same page, determined to seek out "authentic experiences." Travel agents felt like vestiges of the preinternet world, like video-store clerks or pay phones, and I couldn't imagine ever needing them. And in a 2023 survey of 2,000 American travelers, 38% of Gen Z and millennial respondents said they preferred a traditional travel agent over online booking. There are travel agents specializing in just about every type of travel imaginable, from multicountry group tours to luxury all-inclusive trips. AdvertisementSmith is a Gen Zer and said that over half her clients are Gen Z.
Persons: Anthony Bourdain's, Bourdain, Z, , Money, Gen Xers, boomers, we're, Matt James, he's, James, YouGov, millennials, Gen Zers, Kayla Smith, Smith, Zer, Zers, Ashley Kooker, William Lee, margarita, Magdalene Taylor Organizations: Travel, Mexico City, Sojourney, Resorts, Royal, Chima, San, Locations: New York City, Italy, Japan, Costa Rica, Mexico, Vietnam, Hanoi, Coyoacán, Germany, Fora, Croatian, Florida, Royal Curacao, Ohio, Switzerland, TikTok, Swiss, Peru, Lares, San Pedro, Cusco, Lima
AdvertisementPlus, I'm not convinced that Frontier and Spirit's recent addition of "premium" perks will give either a competitive edge. Frontier and Spirit offer 28 inches of pitch, while coach seats on all three mainline carriers start at 30 inches. AdvertisementAmerican Airlines, Delta Air Lines, and United Airlines recognized the budget competition years ago and created their own version of a cheap ticket: basic economy. ULCCs are not always cheaper once you do the mathIn my experience, mainline tickets are sometimes cheaper than Frontier or Spirit. Spirit has dropped all change and cancel fees, and Frontier is adding business-class-like seats to lure in more premium travelers.
Persons: , I've, I'm, Taylor Rains, mainlines, it's, Scott Kirby, LaGuardia Organizations: Service, Spirit Airlines, Frontier Airlines, Business, American Airlines, Delta Air Lines, United Airlines, Mobile, LaGuardia Airport, Delta, Google, United, Spirit Locations: Delta, Orlando
Read previewGuests in a North Carolina Airbnb rental have refused to leave the property after an eight-month stay, the homeowner said. Farzana Rahman, the Airbnb host, said the guests taped a sign to the door that says they are "legal residents." "It's not fair," Rahman told Business Insider. The guests told the cleaners to leave and asked Rahman if they could stay through Memorial Day on May 27. "If you see red flags at the beginning, people trying to make you break your contract and go outside," she told Business Insider.
Persons: , Farzana Rahman, Rahman, It's, Airbnb, they'd, Rahman couldn't, she's Organizations: Service, Business, ABC, BI Locations: North Carolina, Durham , North Carolina
Oracle shares closed up more than 13% on Wednesday, a day after the software company announced its fourth-quarter results and cloud deals with Microsoft -backed OpenAI and Google . Alongside its results, Oracle said it is partnering with Microsoft and OpenAI to help supply additional computing capacity for the startup. Analysts from Citi said Oracle's sluggish revenue for the fourth quarter was offset by "tremendous RPO bookings growth." UBS analysts said the highlight of Oracle's results is its "extraordinary sequential backlog growth of $18 billion." Morgan Stanley analysts said Oracle's quarter was mixed, but the "near term AI build-out likely wins the day and sustains momentum in shares."
Persons: Larry Ellison, Safra Catz, Oracle, Morgan Stanley, — CNBC's Michael Bloom, Jordan Novet Organizations: Oracle, Microsoft, Google, Analysts, Citi, UBS Locations: San Francisco
We view Broadcom as one of the biggest AI beneficiaries through its networking and custom chip businesses. And it's a good thing that Broadcom wants to make its stock more accessible to investors and employees. Broadcom said the spending run rate at VMware was $1.6 billion in the quarter, down from $2.3 billion per quarter pre-acquisition. Outlook Following the strong first half of its fiscal year 2024, Broadcom raised both its revenue and adjusted EBITDA outlook. The positively revised update is above FactSet estimates of $50.58 billion in revenue and $30 billion of adjusted EBITDA.
Persons: Hock Tan, we've, Tan, Jim Cramer's, Jim Cramer, Jim, Broadcom Lucas Jackson Organizations: Broadcom, VMware, Revenue, Club, LSEG, VMWare, Wall Street, Marvell Technology, Devices, Nvidia, Lam, Chipotle, Walmart, Apple, Infrastructure Software, CNBC Locations: Hock
A Kentucky woman said her family's cruise was canceled after they fell victim to identity theft. Banks and her family spent a year planning a trip on the Carnival Celebration ship. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA Kentucky mother said her family's booking on a cruise was canceled just 48 hours before the ship was due to set sail after they fell victim to identity theft. Tiffany Banks, her husband, and their children had spent a year planning their trip on the Carnival Celebration ship, which Carnival Cruise Line operates.
Persons: Tiffany Banks, Banks, Organizations: Facebook, Service, Business Locations: Kentucky
But what if you paid extra for a window seat or extra legroom? There's a heated discussion doing the rounds on social media about when you should switch seats, and under what circumstances you should refuse. Proceed with cautionSome travelers have been sharing their experiences on social media, saying that caution should be exercised when someone asks to switch seats because people "don't always have the best intentions." Airlines offer options to choose seats in advance, so it's good practice for passengers to get in the habit of planning ahead. "From a glass of fizz, to extra pillows and blankets, or maybe some treats from a premium cabin if available."
Persons: , Nick, Rylie, Jessica Dante, Dante, Ally Gibson, Ally, Gibson, she's, Carrie Bradley, Bradley Organizations: Service, Business, Love, Airlines Locations: London
In today's big story, we're looking at all the takeaways from Apple's big event , including its friendlier spin on artificial intelligence . Related VideoBut first, it's not AI; it's Apple Intelligence. Apple Intelligence — it's AI, just not that AI — is the company's first big swing in the space. Data is the name of the game when it comes to AI, and Apple's iPhones are full of it. However, the Apple Intelligence news and partnership with OpenAI is what really set the billionaire off.
Persons: , we've, it's, Andrew Burton, Justin Sullivan, Rebecca Zisser, Tim Cook, Apple, Apple's, Insider's Jordan Hart, Katie Notopoulos, Pro Max, BI's Peter Kafka, Max —, wasn't, Elon Musk, Chelsea Jia Feng, Grzegorz Wajda, Elon, Bernstein, Toni Sacconaghi, Point72, Steve Cohen's, WallStreetBets, Tyler Le, OpenAI, Sarah Friar, Kevin Weil, who's, Sam Altman's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith Organizations: Service, Business, Tech, Apple Intelligence, Washington, Getty, Apple, Pro, Elon, OpenAI, Academy Investment, GameStop, Planet Labs, Oracle Locations: Apple's, Chelsea, Silicon, New York, London
Gen X is shifting from family trips to solo and friend-based vacations. More than 60% of Gen Xers book vacations to escape daily stress, the highest of any generation. However, neither of those studies differentiated between Gen Xers and baby boomers or how those numbers have changed over time. Morning ConsultThe next most common reason for Gen X to take a vacation was to visit family or friends, at slightly more than 40%. AdvertisementDriven by a need to escape and influenced by financial considerations, Gen Xers are carving out new travel experiences, prioritizing their well-being.
Persons: Gen Xers, , Xers —, Xers, Lindsey Roeschke, I'm, Roeschke, X Organizations: Service, US Census Bureau, US, Bureau, Bowling Green State University, Business
Some cruise ship cabins can be rockier than others, like those situated at the front of the ship. Joey Hadden/Business InsiderBefore booking, I wish I'd researched how the location of a cabin can affect the amount of motion you feel while the ship is moving. My ocean-view stateroom was at the front of the ship, and I didn't expect to feel as much movement in my cabin as I did. Several seasoned cruisers on the voyage told me that the front of the ship was one of the worst places to feel motion. If you are as prone to motion sickness as I am, I suggest choosing a room in the middle of the ship.
Persons: Joey Hadden, I'd
Before you book a cruise, it's important to understand that not all cruise lines are equal. Each cruise line has amenities, entertainment, and experiences tailored to specific cruisers. Carnival is good for families, Virgin Voyages for solo adults, and Cunard for mature travelers. I've sailed with most major lines, from kid-focused Disney Cruise Line to the sometimes-naughty Virgin Voyages. Each cruise line is unique, offering amenities, entertainment, and experiences tailored to specific cruisers.
Persons: , I've Organizations: Virgin, Service, Disney Cruise Line, Business
But if you ask some Americans, airfares have gotten out of control in recent years. Keyes said international inflation-adjusted airfares for US passengers have also generally fallen over the past decade. To be sure, any frustrations about airfare prices haven't stopped many Americans from flying. "The decline in inflation-adjusted airfares appears to be uncorrelated with the financial performance of the 'big three' airlines," Tan said. AdvertisementIt's also possible that after airfare prices plummeted due to the pandemic, 2022's swift rise in airfares caught Americans off guard.
Persons: , airfares, Scott Keyes, Mike Daher, It's, Keyes, Biden, Kerry Tan, they've, haven't, Tan, ​ Tan, there's, airfare, Hayley Berg, Hopper's, NerdWallet Organizations: Service, Bureau of Transportation Statistics, Business, Deloitte, Gallup, JetBlue, Spirit Airlines, Department of Transportation, TSA, Loyola University Maryland, Delta, of Transportation, Airlines for America, Southwest, Spirit, United, Biden Administration, The Airlines Locations: United, America
Mancuso started making small tweaks to her diet and lifestyle, stayed consistent, and the weight came off. Leah MancusoNow 188 pounds, Mancuso, a photographer based in Scottsdale, Arizona, feels like a new person. One nutritious food per dayInstead of trying to overhaul her whole diet, Mancuso started small by eating one nutritious food every day — the first was eggs. Nutrition-wise, Mancuso progressed from eating one nutritious food a day to keeping a food journal. She returned to Disneyland 200 pounds lighterIn December 2023, Mancuso went back to Disneyland nearly 200 pounds lighter than her previous visit.
Persons: , Leah Mancuso, Mancuso, Wegovy, dieter, Jenny Craig, wouldn't, she'd, Taco Bell, Erica, Jon, Mancuso didn't, Tara Dunn, I'm Organizations: Service, Business, Taco, Nutrition Locations: Scottsdale , Arizona, WeightWatchers
And with cruise ships getting bigger to the point where a new world's largest one is crowned almost every year, there are even more rooms to choose from when booking a trip. Because I've learned that if my cabin is located near staircases in just the right way, my cruise is way more enjoyable and efficient. AdvertisementThe perks of this placement are so good that I only book cabins near staircases now and will continue to do so for every cruise I take. AdvertisementThe convenience of a cabin near stairs is unmatchedThis cabin placement is just convenient. To find your ideal cabin, review the ship's deck plans before you book.
Persons: , I've Organizations: Service, Business Locations: Deck
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