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☆ The inside story of how FanDuel upended US sports betting with the same-game parlay and used it to dominate the market
▼ + stars: | 2023-11-07 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +11 min

The daily-fantasy-sports company, which European gambling giant Flutter Entertainment had acquired, was racing to introduce its "same-game parlay" to the US. The same-game parlay, a phrase FanDuel coined, has since caught fire, meshing well with the high-scoring, stat-driven, athlete-personality focus of US sports — and propelled FanDuel to the forefront of the betting market. "The same-game parlay was the right product in the right market at exactly the right time." Every sports-betting operator, from DraftKings to newcomer Fanatics, now has or is building its version of the same-game parlay. After the NBA resumed play in July 2020, the same-game parlay grew from 5% to 10% of FanDuel's bets, Farren said.

Persons: FanDuel, Scott Longley, parlay, Conor Farren, FanDuel's, DraftKings, Entain, parlays, Longley, would've, John Maguire, Maguire, isn't, LeBron James, Jalen Rose, Sportsbet, Paddy Power Betfair, Farren, It's, Ben Hider, Penn Organizations: NFL, Krejcik, Houston Rockets, Los Angeles Lakers, Australian Football League, Australian rugby, NBA, ESPN Bet, FanDuel, Industry Locations: DraftKings, Melbourne, Australia, England, FanDuel

☆ How big should any one stock in your portfolio get? Here's a way to figure it out
▼ + stars: | 2023-11-05 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

We always recommend an investor's first $10,000 should go to an S & P 500 index fund. So one option for putting all your money to work without making any one stock position too big is to keep adding to your index fund. Or maybe you own five names at 8% each, 15% in cash, and the remaining 45% in an index fund. 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, Scott L, Jim, Josh Edelson Organizations: Apple, Nvidia, Microsoft, CNBC, Apple's Worldwide, Afp, Getty Locations: Cupertino , California

☆ Flyers' offense too much for Wild
▼ + stars: | 2023-10-27 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/41] Oct 26, 2023; Philadelphia, Pennsylvania, USA; Philadelphia Flyers center Scott Laughton (21) in action against the Minnesota Wild in the first period at Wells Fargo Center. Sean Couturier and Travis Konecny each had one goal and one assist while Owen Tippett contributed one goal for the Flyers. Brink's second goal, this time at 11:02, gave the Flyers a 5-2 lead. Couturier scored on the backhand on the power play at 7:28 of the second as the Flyers took a 2-0 lead. The Flyers had been 1-for-20 on the power play before Couturier connected.

Persons: Scott Laughton, Kyle Ross, Bobby Brink, Travis Sanheim, Sean Couturier, Travis Konecny, Owen Tippett, Cam Atkinson, Carter Hart, Dakota Mermis, Marcus Foligno, Filip Gustavsson, Mermis corralled, Foligno, Tippett, Sanheim, Konecny, Nick Seeler, Couturier, Atkinson, pounced, Jake Middleton, Tyson Foerster, Brink, Marcus Johansson, Hart Organizations: Philadelphia Flyers, Minnesota Wild, Wells, Wells Fargo Center, USA, Minnesota, Flyers, Philadelphia, Thomson Locations: Philadelphia , Pennsylvania, USA, Wells Fargo

NHL players will be allowed to use Pride tape this season after all with the reversal of a ban that sparked a backlash around hockey and among LGBTQ+ advocates in sports. The league, players' union and a committee on inclusion agreed to give players the option to represent social causes with stick tape during warmups, practices and games. The move announced Tuesday rescinds a ban on rainbow-colored Pride tape for on-ice activities that was provided to teams earlier this fall as guidance for theme nights. “We are so very grateful to everyone who believes hockey should be a safe, inclusive and welcoming space for all,” the makers of Pride Tape said on social media. “We are extremely happy that NHL players will now have the option to voluntarily represent important social causes with their stick tape throughout season.”The tape ban drew criticism from players around the league, longtime executive Brian Burke and others.

Persons: Brian Burke, Philadelphia's Scott Laughton, he'd, Arizona's Travis Dermott, Trevor van Riemsdyk, “ There’s, ” van Riemdsyk, ” Burke, ” “, ” Organizations: NHL, Washington Capitals

☆ Why Health Care Workers Are Burning Out
▼ + stars: | 2023-10-24 | by ( Noah Weiland | More About Noah Weiland | ) www.nytimes.com time to read: +3 min

Federal researchers tracked self-reported mental health symptoms among more than a thousand adult workers in 2018 and 2022, including 226 health care workers in 2018 and 325 in 2022. Compared with other groups surveyed, health care workers reported a substantial jump in poor mental health days in the month prior, from 3.3 in 2018 to 4.5 in 2022. Less than 30 percent of health workers last year described themselves as very happy, a decline from 2018. And the percentage of health care workers reporting harassment on the job more than doubled, compared with the rate in 2018. “Whatever is happening out in the world walks into our health care facilities.”Nearly half of health care workers surveyed said they were somewhat or very likely to look for new work, the researchers found — an ominous sign for providers already struggling to retain staff.

Persons: ”, Rumay Alexander, Houry, Amy Locke, Locke, “, Katie Carroll, Scott Lockard Organizations: “, University of North, Chapel, American Nurses Association, University of Utah Health, Health Department Locations: University of North Carolina, New Brunswick, N.J, Local, Kentucky

☆ A leading backer of Tim Scott's White House campaign says the senator's team 'fundamentally miscalculated what it means to run for president' amid sagging polls and Nikki Haley's gains
▼ + stars: | 2023-10-23 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Sen. Tim Scott's presidential campaign, once seen as emerging force, has faltered in recent weeks. Scott has sought to offer an optimistic message to voters, but Trump remains on top in the GOP race. The rise of fellow South Carolinian Nikki Haley has also complicated Scott's path to the nomination. Over the course of Scott's campaign, his campaign has so far focused heavily on winning the Iowa caucuses, and during the summer he was seemingly clipping at Florida Gov. A leading Scott backer, who spoke to Politico anonymously, remarked that the senator's campaign team "fundamentally miscalculated what it means to run for president and generate news coverage."

Persons: Sen, Tim Scott's, Scott, Trump, Nikki Haley, —, Tim Scott, Donald Trump, Ron DeSantis, Texas Sen, John Cornyn, Scott's, Politico, Reagan, Cornyn, Haley, Vivek Ramaswamy, they've, Hawkeye, DeSantis, Nathan Brand Organizations: GOP, South, Service, Main Street Republicans, Florida Gov, Trump, South Carolina Gov, Politico, Senate, Hawkeye State, Republican National Committee Locations: South Carolina, Iowa, Texas, New Hampshire, Miami

BOWLING GREEN, Ky. (AP) — Republican voter Mark Cook stuck with his party in Kentucky's last election for governor. Once again, Warren County, which includes the leafy, fast-growing college town of Bowling Green, looms as a potential swing area. Those undecided voters included Carol Martin of Bowling Green, who wanted to hear more from both candidates. “I believe him," the retiree said while strolling through a downtown Bowling Green park. "And what you see is what you get.”A Republican lawmaker from Bowling Green had a different view.

Persons: Mark Cook, Andy Beshear, Cook, Donald Trump, Joe Biden, Beshear, “ He's, ” Cook, “ I’ve, I’m, Daniel Cameron, Kentuckians, Matt Bevin, Trump, Cameron, ”, Scott Lasley, “, Carol Martin, Martin, “ I’m, Bevin, Dale Chaffin, Chaffin, Still, what's, Donald Kubeny, Roe, Wade, he’s, Linda King's, ” King, Gary Jolly, Susann Davis, ” Davis, Olivia Thomas, Patti Minter, it’s, Minter, Sen, Mike Wilson, Daniel Organizations: — Republican, Republican, Democratic, Bluegrass State, ”, Beshear, Western Kentucky University, National Corvette Museum, Bowling Green, Northern Kentucky University, “, Democrat, Cameron, Supreme, Bowling, GOP, reined, Former, Bowling Green Democrat Locations: Ky, Kentucky's, Kentucky, Bowling, Appalachia, Mississippi, Warren County, It's, Louisville, Western Kentucky, Fayette County, Lexington, ”, Highland Heights, bologna, U.S, Bowling Green

☆ Clarence Thomas' recusal on 'frivolous' January 6 appeal is a 'low-stakes' opportunity for him to fight ethics allegations, Supreme Court expert says
▼ + stars: | 2023-10-03 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Clarence Thomas recused himself for the first time from a January 6-related matter this week. A Supreme Court expert said media scrutiny into Thomas' ethics may have convinced him to recuse. AdvertisementAdvertisementAfter months of media scrutiny, Supreme Court Justice Clarence Thomas recused himself for the first time from a matter regarding the January 6, 2021 Capitol attack. But the Eastman appeal from which Thomas recused himself was effectively settled before the court declined to review the appeal. Regardless of his reasons, Thomas ultimately did the right thing in recusing himself from the Eastman appeal, Lemieux said.

Persons: Clarence Thomas, Thomas, —, Trump, John Eastman's, Eastman, Ginny, Trump's, Harlan Crow, Scott Lemieux, didn't, John Eastman, Rudy Giuliani, Jim Bourg, Lemieux, recusal, recusing Organizations: Service, Supreme, White, Trump, Bloomberg, University of Washington, Eastman Locations: Georgia, Virginia

☆ Opinion | ‘The Entire Debate Was a Gong Show’: Winners and Losers From the Second Republican Showdown
▼ + stars: | 2023-09-28 | by ( New York Times Opinion | ) www.nytimes.com time to read: +21 min

Matthew Continetti Governor Haley is an excellent communicator, but her message was often lost amid all the cross talk. Daniel McCarthy In this debate, Governor Haley decided to play the role that Vivek Ramaswamy played last time, frequently interrupting and attacking others. Matthew Continetti Governor DeSantis is not an exciting debater, but he remains the most plausible alternative to Donald Trump. Jane Coaston He really, really, really wanted to fight Donald Trump, who was not present. His worst moment was a canned line in which he compared Donald Trump to Donald Duck (Disney defamation suit to follow).

Persons: Ronald Reagan, Jane Coaston, Tim Scott, Vivek Ramaswamy, Ramaswamy, Gail Collins, Matthew Continetti, Haley, Ron DeSantis, I’m, Michelle Cottle, Ross Douthat, Amy Klobuchar, Vivek Ramaswamy’s Pete Buttigieg —, Michelle Goldberg, Katherine Mangu, Ward, Daniel McCarthy, Katherine Miller Haley, Scott, ” Peter Wehner, she’d, DeSantis, Donald Trump, zinged Trump, Trump, he’s, Nobody, Michelle Goldberg DeSantis, DeSantis —, Daniel McCarthy He’s, don’t, Katherine Miller, Peter Wehner, Christie, Donald Duck, Matthew Continetti Governor Christie, He’s, —, Ross Douthat “ Donald DUCK, “ Donald Duck, ” Katherine Mangu, Biden, ” Daniel McCarthy Governor Christie, Katherine Miller Christie, stemwinders, Donald Trump’s, Haley —, ’, “, ” Matthew Continetti, MAGA populists, MAGA, Haley didn’t, Reagan, Ward Ramaswamy, Katherine Miller Ramaswamy, Burgum, Ross, Yep, Katherine Miller Burgum, Gail Collins Boy, Pence, ”, Mike Pence, Asa Hutchinson, Peter Wehner Trump Organizations: Republican, Ronald Reagan Presidential, American Special Operations, Washington, Trump, Fox, Washington , D.C, South, Blacks, ’, Reagan Locations: California, Iowa, New Hampshire, Mexico, Florida, Ukraine, Washington ,, New Jersey, Simi Valley, China, America, North Dakota

☆ It's clear Trump played the debates perfectly, and by avoiding them entirely he's turned them into a pointless spectacle
▼ + stars: | 2023-09-28 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

Trump made the right decision by skipping the GOP primary debates. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Now, one of his senior advisors is calling for the Republican National Committee to cancel any future debates. Now, it looks clear that by staying away Trump deprived the debates of the spectacle that surrounds him. Chris Christie quipped the debate that Trump would be known as "Donald Duck" if he continued to skip out.

Persons: Trump, —, Donald Trump, Ronald Reagan's, Fox, Mark Burnett, Joe Biden, Ron DeSantis, DeSantis, Chris Christie, Donald Duck, Nikki Haley, Sen, Tim Scott, Haley, Scott Organizations: Service, GOP, Republican National Committee, wiz, Disney, . New, . New Jersey Gov Locations: Iowa, Florida, ., . New Jersey

☆ The Biden administration bet big on industrial policies. Experts warn it may not pay off
▼ + stars: | 2023-09-25 | by ( Juhohn Lee | ) www.cnbc.com time to read: +2 min

With the introduction of new laws, such as the CHIPS and Science Act and the Inflation Reduction Act of 2022, the Biden administration has been betting big on industrial policies to bring manufacturers back to the United States. This isn't the first time the U.S. government has spent tax dollars to guide industrial policy. If successful, industrial policies can potentially lead to big payoffs. "An example would be the development of mRNA vaccines for Covid," said Ed Gresser, vice president and director for trade and global markets at the Progressive Policy Institute. And that simply is a deterrent for investment and job creation here in the U.S."Watch the video to learn more about how industrial policies are affecting the manufacturing sector in the United States.

Persons: Biden, Scott Lincicome, Ed Gresser, Linicicome, Lincicome, Jay Timmons Organizations: Cato Institute, Progressive Policy Institute, National Association of Manufacturers, U.S . Locations: United States, Washington, U.S

☆ American man stolen as a baby in Chile meets mother at 42
▼ + stars: | 2023-09-09 | by ( Rafael Romo | ) edition.cnn.com time to read: +7 min

“There were three or four different accounts of a story that were just so divergent that they could not all be true,” Thyden told CNN. Another provided the name of a biological mother and her address. Chilean officials say the number of stolen babies could be in the thousands, but the country’s investigation into the controversial adoptions has languished. He’s happy to finally know his true origins but sad about what his biological mother went through. After three agonizing months, he was finally able to travel to Chile to give his biological mother the hug that had to wait for 42 years.

Persons: Jimmy Lippert Thyden, “, ” Thyden, Thyden, Scott Lieberman, Lieberman, General Augusto Pinochet, Constanza del, Río, Angélica, ” del Río, Del Río, González, Pinochet, we’ve, ”, “ It’s Organizations: CNN, US Marines, Authorities Locations: United States, Chile, Virginia, Afghanistan, Thyden, San Francisco, Chilean, Valdivia

☆ A top-7% fund manager over the past 15 years shares the once-in-a-generation challenge she sees in markets — and names 6 stocks that look attractive right now
▼ + stars: | 2023-09-02 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

The mid-cap growth fund manager shared what qualities she's looking for in stocks. However, the mid-cap growth fund she's managed since 2001 is still a top-7% performer in the last 15 years, according to Morningstar. There's 'magic' to be found in mid-cap growthBut while elevated interest rates aren't kind to stocks, Scott still sees opportunities in many mid-sized companies. Within mid caps, Scott tends to tilt toward growth-focused companies, specifically those with sound business models that are profitable and have abundant cash flow. Instead of investing in so-called "bleeding edge" growth stocks, Scott said she prefers steady, reliable compounders.

Persons: Kimberly Scott, she's, we've, Scott, Morningstar, we're Organizations: Delaware Ivy, Growth, Federal, Growth Fund

☆ An $80 Million Duplex Is the Priciest Closing (So Far) This Year
▼ + stars: | 2023-09-01 | by ( Vivian Marino | ) www.nytimes.com time to read: +1 min

The year’s most expensive sale in New York City took place in August at 220 Central Park South in Midtown, where an expansive duplex in the villa portion of the park-facing condo complex closed at $80 million. It sold for $30 million, far less than the $110 million initially sought by the developers six years ago. The buyer was Scott Lynn, an art collector and the founder and chief executive of Masterworks, an art investment platform. The crown penthouse at the new 20-story condo at 109 East 79th Street also sold, for $35 million, which was the month’s second biggest sale. The full-floor unit has 5,721 square feet, plus an additional 3,666 square feet of outdoor space.

Persons: Nima Capital, Suna Said, Scott Lynn Organizations: New York City, Nima, Woolworth, Masterworks Locations: New York, Midtown, TriBeCa

☆ Investors are getting bearish on China — but see other upside opportunities in Asia
▼ + stars: | 2023-08-31 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

However, some investors believe a bearish China story is shifting the spotlight onto investment opportunities in other Asian markets. Morgan Stanley downgraded the iShares MSCI China ETF (MCHI) to equal weight from overweight in early August, citing lower earnings growth expectations and structural challenges. Opportunity in Japan Japan currently stands out as a "particularly attractive" investment play, according to Horizon Investments chief investment officer Scott Ladner. Investors can get access to the Japanese market through the iShares MSCI Japan ETF (EWJ) , which has an expense ratio of 0.5% and more than $13 billion in assets. Ways to play the space include the iShares MSCI South Korea ETF (EWY) , the Franklin FTSE South Korea ETF (FLKR) and the iShares MSCI Taiwan ETF (EWT) .

Persons: Morgan Stanley, Wells, Jay Bryson, Scott Ladner, Ladner, Seth Carpenter, it's, Carlos Asilis, China —, Asilis, Franklin Templeton's FLKR, we've Organizations: Horizon Investments, Bank of Japan, Glovista Investments, Korea ETF, Franklin FTSE, Franklin FTSE South Korea ETF, U.S Locations: China, Wells Fargo, Japan Japan, Japan, Asia, Pacific, South Korea, Taiwan, Korea, Franklin FTSE South, Australia, India, Vietnam, Indonesia

☆ Ron DeSantis faces new leadership test as Hurricane Idalia barrels toward Florida
▼ + stars: | 2023-08-29 | by ( Steve Contorno | ) edition.cnn.com time to read: +10 min

CNN —With the eyes of the country on Hurricane Idalia as it spins toward Florida’s Gulf Coast, Florida Gov. Ron DeSantis’ presidential ambitions are also under the spotlight as he puts his campaign on hold to manage the crisis at home. The Florida governor is also staving off a field of GOP contenders, who must now also balance sensitivities around Hurricane Idalia with their attempts to overcome DeSantis in the polls. DeSantis has also asserted that he could send his “Florida people” to the southern border to build a wall. “The governor of our state of Florida has created an environment ripe for this.”

Persons: Ron DeSantis, DeSantis, ” DeSantis, Ian, Republican Rick Scott, Hurricane Michael, Bill Nelson, Scott, Jeb Bush, George W, Bush, Chris Christie, Christie, “, ”, Alex Conant, Florida Sen, Marco Rubio’s, Andrew Romeo, ” Romeo, Hurricane Ian, Joe Biden –, Biden, Joe Biden, Saul Young, Donald Trump, Todd Belt, Angie Nixon Organizations: CNN, Gulf Coast , Florida Gov, Republican, White, Hurricane, US, GOP Gov, GOP, Knoxville News Sentinel, George Washington University, Democrats, Trump, ” Democratic, Jacksonville Locations: Gulf Coast , Florida, Tallahassee, Iowa, Florida, New Jersey, New Hampshire, Hawaii, Fort Myers Beach , Florida, Lee County, Florida’s Big, Jacksonville, DeSantis

An Erie County, N.Y., judge on Wednesday set aside the convictions of two men who, despite their protests of innocence, were found guilty in the grisly 1993 murder of a young mother outside Buffalo. Justice Wojtaszek ordered that the two men, Brian Scott Lorenz and James Pugh, be granted new trials in the slaying of the young mother, Deborah Meindl, who was killed in her home in Tonawanda, N.Y. The judge rejected the men’s assertions of innocence. But he ruled that new trials were warranted because of new evidence, and because the original prosecutors had violated rules governing the sharing of evidence. The Erie County District Attorney’s Office said it would be appealing the judge’s decision.

Persons: Justice Paul B, Richard Matt, New York jailbreak, Justice Wojtaszek, Brian Scott Lorenz, James Pugh, Deborah Meindl Organizations: Court, Attorney’s Locations: Erie County, N.Y, Buffalo, New York, Tonawanda

☆ Florida Democrats just landed one of their top recruits to take on Rick Scott, but it still might not be enough to win
▼ + stars: | 2023-08-22 | by ( John L. Dorman | ) www.businessinsider.com time to read: +7 min

She's aiming to unseat Rick Scott, who always eked out narrow wins in his general election contests. But Scott will be running in a presidential year, when Florida Republicans could have a considerable edge. AdvertisementAdvertisementSo where does that leave Florida Democrats as they look toward 2024? "Ya no más," she said in Spanish, which translates to "no more," and added, "I've already fought guys like Rick Scott, and beat them." Florida Sen. Rick Scott speaks during a news conference following the GOP weekly policy luncheon on Capitol Hill on September 20, 2022.

Persons: Debbie Mucarsel, Powell, Rick Scott, Scott, Sen, Rick Scott of, Democrat Alex Sink, Charlie Crist, Democratic Sen, Bill Nelson, Donald Trump, Ron DeSantis, Joe Biden, DeSantis romped, Crist, Trump, Mucarsel, Scott —, I've, Florida Sen, Jose Luis Magana Mucarsel, Biden, Carlos Giménez —, —, Scott Hartline Organizations: Democratic, Florida Senate, Florida Republicans, Service, Republican, Democrat, Gov, Trump, Florida, Florida Democrats, Democrats crave, Latina, Columbia, Healthcare Corporation, Politico, Mucarsel, Capitol, AP, Republicans, Dade County, State, GOP Locations: Florida, Wall, Silicon, Rick Scott of Florida, Ecuadorian American, Miami, Dade County, South Florida, Mucarsel

☆ Verizon signs technology deal with HCLTech
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +1 min

Signage is seen at a Verizon store in Manhattan, New York City, U.S., November 22, 2021. 1 U.S. telecom company by subscribers, said on Thursday it had signed a technology deal with India's HCLTech (HCLT.NS) to help manage networks for business customers in a bid to stem a decline in its wireline business. Verizon's wireline business, which includes selling to business customers, has been a drag on its revenue for several years. Under the terms of the deal, Verizon Business will lead sales and development, while HCLTech will take care of post-sale network roll-out and support. Some Verizon employees will also move to HCLTech.

Persons: Andrew Kelly, India's, Scott Lawrence, HCLTech, Lawrence, Supantha Mukherjee, Mark Potter Organizations: Verizon, REUTERS, Verizon Business, Thomson Locations: Manhattan , New York City, U.S, Stockholm

☆ UBS rejigs investment bank in bid to better compete with Wall Street
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

Logos of Swiss banks UBS and Credit Suisse are seen in Zurich, Switzerland, March 20, 2023. REUTERS/Denis Balibouse/File PhotoLONDON, Aug 7 (Reuters) - UBS (UBSG.S) announced an overhaul of its investment banking division on Monday, including naming the unit's M&A chiefs, marking a key step in integrating Credit Suisse. Sergio Ermotti is seizing on the opportunity presented by the rescue takeover of Credit Suisse in March to reorganize UBS' investment bank to better compete against Wall Street firms. Hundreds of Credit Suisse bankers have already left to other institutions and UBS has been laying off employees from Credit Suisse's investment bank around the globe. Hong Kong makes up Credit Suisse's biggest share of investment bankers in Asia.

Persons: Denis Balibouse, Sergio Ermotti, David Kostel, Tom Churton, Christian Lesueur, Nestor Paz, Galindo, Marc, Anthony Hourihan, Michael Santini, Marc Warm, David Slade, Scott Lindsay, Robin Rankin, Andres Gonzalez, Oliver Hirt, Elisa Martinuzzi, Alexander Smith Organizations: UBS, Credit Suisse, REUTERS, Wall Street, Global, Staff, Reuters, TMT Investment, Global Banking, Credit, Suisse's, Debt, Thomson Locations: Zurich, Switzerland, Credit, Swiss, Hong Kong, Asia

☆ Lifted by Lea Michele, ‘Funny Girl’ Recoups on Broadway
▼ + stars: | 2023-08-07 | by ( Michael Paulson | More About Michael Paulson | ) www.nytimes.com time to read: +1 min

The Broadway revival of “Funny Girl” starring Lea Michele is now officially a hit: It has recouped its capitalization costs, completing a remarkable box office turnaround of the sort rarely seen in the commercial theater. The show’s lead producers, Sonia Friedman, Scott Landis and David Babani, announced on Monday that the production had made back the $16.5 million it cost to mount. That milestone not only gives the production bragging rights, but also means that “Funny Girl” can generate a profit during the last few weeks of its run, which ends on Sept. 3. Only a handful of Broadway productions have announced the recoupment of their capitalization costs since the onset of the coronavirus pandemic, as higher expenses and smaller audiences have made the always challenging economics of Broadway even more difficult. Critics were underwhelmed; the show won no Tony Awards (it was only nominated for one); and by summer its sales had drooped.

Persons: Lea Michele, Sonia Friedman, Scott Landis, David Babani, Barbra Streisand —, Beanie Feldstein, Critics Organizations: Wilson Theater

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 20, 2023. Uber (UBER.N) fell after the ride-hailing company missed second-quarter revenue expectations. Arista Networks (ANET.N) stocks rose as the network gear maker forecast quarterly revenue above estimates after delivering better-than-expected results. According to preliminary data, the S&P 500 (.SPX) lost 12.25 points, or 0.26%, to end at 4,576.94 points, while the Nasdaq Composite (.IXIC) lost 62.11 points, or 0.43%, to 14,284.20. JetBlue Airways (JBLU.O) stocks dropped after it lowered its annual profit forecast due to a hit from the termination of its revenue-sharing deal with American Airlines (AAL.O).

Persons: Brendan McDermid, It's, Scott Ladner, Echo Wang, Johann M Cherian, Vinay Dwivedi, Richard Chang Organizations: New York Stock Exchange, REUTERS, PMI, Dow, Nasdaq, Horizon Investments, Caterpillar, Pfizer, Treasury, Arista Networks, Dow Jones, Norwegian Cruise, JetBlue Airways, American Airlines, Thomson Locations: New York City, U.S, New York, Bengaluru

For the week, the Nasdaq climbed 2.02%, while the S&P rose 1.01%, and the Dow gained 0.66%. The gains gave the S&P 500 its highest close since April 4, 2022. Barclays said investors flocked to equities this week, with inflows of $10 billion to U.S.-listed stocks, according to a note to clients. Advancing issues outnumbered declining ones on the NYSE by a 2.64-to-1 ratio; on Nasdaq, a 2.81-to-1 ratio favored advancers. The S&P 500 posted 27 new 52-week highs and two new lows; the Nasdaq Composite recorded 83 new highs and 84 new lows.

Persons: Scott Ladner, Win Murray, Diamond Hill, Jerome Powell, Brendan McDermid, Peers, Dow, Jim Farley, Carolina Mandl, Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Big Tech, Federal Reserve, Horizon Investments, Dow Jones, Barclays, New York Stock Exchange, REUTERS, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, NYSE, Thomson Locations: China, U.S, New York City, New York, Bengaluru

U.S. annual inflation slowed considerably in June, likely pushing the Federal Reserve closer to ending its fastest interest rate hiking cycle since the 1980s, data showed on Friday. Barclays said investors flocked to equities this week, with inflows of $10 billion to U.S.-listed stocks, according to a note to clients. On the earnings front, Intel's (INTC.O) results and forecast pointed to an improving PC market, sending the chipmaker's shares up. The yield on the U.S. 10-year note slipped from 4% hit in the previous session, lifting megacap growth and technology stocks sharply higher. Reata Pharmaceuticals (RETA.O) surged after Biogen (BIIB.O) agreed to buy the rare disease drugmaker for nearly $6.5 billion.

Persons: Scott Ladner, Win Murray, Diamond Hill, Jerome Powell, Peers, Dow, Jim Farley, Carolina Mandl, Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Horizon Investments, Federal Reserve, Nasdaq, Dow Jones, Barclays, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, Thomson Locations: China, U.S, New York, Bengaluru

☆ Ladner: We've likely seen the peak in rates and the lows in multiples
▼ + stars: | 2023-07-24 | 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 EmailLadner: We've likely seen the peak in rates and the lows in multiplesScott Ladner, Horizon Investments CIO, discusses what's ahead for the busiest week of the summer on Wall Street.

Persons: We've, Scott Ladner Organizations: Ladner, Horizon Investments

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