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☆ The 'peak boomer' crisis might only get worse: A fifth of Americans 50 and up have no retirement savings, and the majority are worried they won't have enough money
▼ + stars: | 2024-04-26 | by ( Juliana Kaplan | Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

Americans say they don't have enough money for retirement, with a solid chunk having no savings at all. At the same time, the economy is about to see the "peak boomer" generation retire and deplete their savings. Tourangeau is part of a generation of older Americans who don't feel confident in their financial situation. Any of those who leave the workforce to retire may need to rely on any retirement savings they have built. AdvertisementAre you a peak boomer or older American worried you won't have enough money for retirement?

Persons: —, Pam Tourangeau, let's, it's, Indira Venkateswaran, Venkateswaran, Nancy LeaMond, LeaMond Organizations: Service, Congressional Research Service, AARP, Research, Savings, Americans, Federal Reserve, University of Michigan Health, Alliance, Lifetime, Security, Social Security Locations: America

☆ Jamie Dimon says the US has less than 50% odds of nailing a soft landing: 'Don't get lulled into a false sense of security'
▼ + stars: | 2024-04-25 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Markets are too optimistic about a soft landing, JPMorgan chief Jamie Dimon told The Wall Street Journal. He expects soft landing odds to be half of what markets are pricing in. "Don't get lulled into a false sense of security because the today looks okay." AdvertisementThings aren't looking particularly rosy for markets and the economy, Jamie Dimon said in an interview with The Wall Street Journal. "The odds of a soft landing, the market kind of prices in 70%.

Persons: Jamie Dimon, —, Dimon, they're Organizations: JPMorgan, Wall Street, Service

☆ We're lowering our Honeywell price target after earnings. The risk-reward is still favorable
▼ + stars: | 2024-04-25 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Honeywell shares are under pressure Thursday, despite the industrial conglomerate exceeding expectations for first-quarter sales and earnings. The culprits: Softer guidance for the current quarter and some uncertainty about a recovery in some of its key businesses. Honeywell Why we own it: Honeywell is a provider of industrial technology solutions to companies in various industries. Building automation was down year over year as growth in the longer-cycle solutions business was offset by continued weakness in the shorter-cycle products business. Honeywell International Inc. signage is displayed on a monitor on the floor of the New York Stock Exchange (NYSE) in New York.

Persons: it's, Jim Cramer's, Jim Cramer, Jim, Michael Nagle Organizations: Honeywell, Revenue, Emerson, Aerospace, CNBC, Honeywell International Inc, New York Stock Exchange, Bloomberg, Getty Locations: management's, UOP, New York

☆ Here are Thursday's biggest analyst calls: Nvidia, Meta, Tesla, IBM, UPS, Five Below, Amazon, TJX Companies and more
▼ + stars: | 2024-04-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Evercore ISI reiterates Nvidia as outperform Evercore ISI said investors should use any weakness in the stock to buy the dip. HSBC upgrades UPS to buy from hold HSBC said UPS is "getting back to earnings growth" following the company's earnings report. Bank of America downgrades Deckers to neutral from buy Bank of America said it sees a better risk/reward elsewhere in the firm's coverage. Bank of America reiterates IBM as buy Bank of America said it is sticking with its buy rating following earnings on Wednesday. Deutsche Bank reiterates Tesla as hold Deutsche Bank raised its price target on the stock to $136 per share from $123.

Persons: Sherwin, Williams, Bernstein, Goldman Sachs, Wells, Wells Fargo, Morgan Stanley, Ford, Needham, D.A, Davidson, ServiceNow, Tesla Organizations: Motors, GM, Nvidia, ISI, AMD, JPMorgan, Monster Beverage, Beverage, AMC, HSBC, UPS, USPS, Companies, UBS, UDR, Amazon, AWS, Bank of America, Meta, Laboratories, Manhattan Associates, IBM, Deutsche Bank Locations: 2Q24, Dearborn, Manhattan

☆ We're boosting our price target on Alphabet by $30 after it delivered the quarter we've been waiting for
▼ + stars: | 2024-04-25 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Alphabet on Thursday delivered a knockout first-quarter report, with sales, operating margin and profits all topping Wall Street expectations. Alphabet Why we own it : Alphabet's Google Search is an invaluable tool for advertisers. Alphabet's big three watch items for investors — Search, YouTube, and Google Cloud — all delivered better-than-expected revenues in the quarter, leading to companywide sales topping estimates. It exited the quarter with $108 billion in cash, cash equivalents and marketable securities on its balance sheet, compared with $110.9 billion at the end of 2023. At 20 cents a share, Alphabet's dividend yield stands at 0.51% based on Thursday's close.

Persons: we've, It's, Sundar Pichai, Ruth Porat, TikTok, Philipp Schindler, Pichai, Porat, we're, Alphabet's, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: YouTube, Microsoft, Management, —, Google, Google Services, Capital, buybacks, Meta, Apple, CNBC, O, Bloomberg, Getty Locations: That's, Mountain View , California

☆ Can a new batch of tech earnings rescue the market? Here are the factors at play
▼ + stars: | 2024-04-25 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

The market was already headed toward a down session due to disappointing reactions to earnings, which haven't been entirely bad. Club earnings : Microsoft and Alphabet report after the bell Thursday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. 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, haven't, hasn't, it's, Mark Zuckerberg, Amy Hood, Jim Cramer's, Jim Organizations: CNBC, Club, Meta, Tech, Nvidia, Broadcom, Microsoft, PCE, Exxon Mobil, Chevron, Colgate, Palmolive, HCA Holdings, Jim Cramer's Charitable Locations: Abbvie

☆ Wall Street stands by Meta even as costs rise and the stock sells off, cites AI leadership
▼ + stars: | 2024-04-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Wall Street analysts are standing by Meta Platforms despite Thursday's sell-off. The analyst cut his price target to $480 from $535 a share, noting that building and creating new products is no easy — or quick — feat. The adjusted price target reflects nearly 3% downside from Wednesday's close. Morgan Stanley analyst Brian Nowak retained his overweight rating and $550 price target, saying the firm remains "buyers through Meta's investments." Meta isn't alone in this feat, with Nowak expecting competitors to undertake similar steps as more AI opportunities arise.

Persons: Doug Anmuth, Benjamin Black, Black, Citi's Ronald Josey, Goldman Sachs, Eric Sheridan, Morgan Stanley, Brian Nowak, Meta isn't, Nowak, Bank of America's Justin Post, Ross Sandler, Mark, Zuckerberg, Sandler Organizations: Meta, Facebook, Deutsche Bank, Bank of America's, Barclays

☆ Stocks making the biggest moves midday: Meta, Victoria's Secret, Microsoft, Caterpillar and more
▼ + stars: | 2024-04-25 | by ( Pia Singh | ) www.cnbc.com time to read: +5 min

Honeywell posted adjusted earnings per share of $2.25, beating analysts' estimates of $2.17 per share, per LSEG. Revenue for the quarter also came in better-than-expected at $9.11 billion, compared to the $9.03 billion analysts were expecting. ServiceNow — The digital workflow firm slid 5% after it only narrowly beat analysts' revenue expectations in the first quarter. ServiceNow posted revenue of $2.6 billion, slightly higher than the $2.59 billion analysts polled by LSEG had anticipated. Caterpillar — Shares tumbled 6.5% after revenues of $15.8 billion for the most recent quarter missed analysts' estimates of $16.04 billion, according to LSEG.

Persons: Goldman Sachs, Mark Zuckerberg, ServiceNow, LSEG, —, Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: Facebook, Meta, Tech, Microsoft, Beverage, JPMorgan, Monster Beverage, Honeywell —, Honeywell, Revenue, Merck, Co, LSEG, — Bank of America, Southwest Airlines —, Management, StreetAccount, Machines, IBM, Bank of America, Caterpillar, Nvidia —, Nvidia, Comcast, Deutsche Bank — U.S, Deutsche Bank, CNBC Locations: NBCUniversal

☆ CEOs are quitting at record rates, and women are twice as likely as men to leave
▼ + stars: | 2024-04-25 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +2 min

But turnover rates are worse for women. CEOs are quitting at record rates, and the small share of women at the very top are leaving the fastest. Roughly 1 in 4, or 24%, of women CEOs leave their post within two years, according to RRA data going back to 2018. That's more than twice the share of the 10% of men who leave their CEO job in that window. With an even shorter timeline, women CEOs are four times as likely as men to leave the role within a year.

Persons: Russell Reynolds, Ty Wiggins, Wiggins Organizations: Global, Russell, Russell Reynolds Associates, McKinsey & Company Locations: LeanIn.org

☆ Open seating no more? Southwest CEO says airline is weighing cabin changes
▼ + stars: | 2024-04-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Southwest Airlines is weighing changes to its cabin that could involve abandoning its single-class, open-seating system to drive up revenue, CEO Bob Jordan told CNBC on Thursday. The changes would mark a massive shift for the carrier that has stood apart from rivals for decades with its simpler business model. Southwest's all-Boeing 737 fleet has a single economy class cabin and no seating assignments, though it does offer earlier boarding to customers for a fee so they can snag their preferred seats. The airline has focused on keeping its product simple and user-friendly for years, aiming to keep its own costs and complexity to a minimum. Meanwhile, rivals including Delta and United have touted high revenue growth for premium seating such as business class and strong upsell rates.

Persons: Bob Jordan, Jordan Organizations: Airlines, CNBC, Boeing, Delta

☆ Aden Durde: He first opened doors to the NFL for international players. Now, he’s a historic coordinator
▼ + stars: | 2024-04-24 | by ( Ben Morse | ) edition.cnn.com time to read: +10 min

Just as the offseason kicked off in mid February, Durde was hired to become the Seattle Seahawks’ new defensive coordinator, becoming the first British coordinator in NFL history. Durde’s first exposure to the NFL came in 2005 when – as part of the NFL International Development Practice Squad program, an early predecessor to the IPP – he spent some time on the practice squad of the Carolina Panthers. He spent three seasons as part of the Falcons’ defensive coaching staff, working across a number of roles under head coach Dan Quinn. His permanent hiring in 2018 meant Durde became the first British full-time coach in NFL history. Under Durde’s stewardship, Dallas’ defensive line developed into one of the most feared in the league, in particular star linebacker Micah Parsons.

Persons: Aden Durde, Durde, “, hasn’t, ” Durde, that’s, –, ”, Bill Walsh, Dan Quinn, Carmen Mandato, ” It’s, Efe Obada, Jordan Mailata, Wales rugby international Louis Rees, Zammit, Mailata, Louis, Rees, Jeff Ulbrich, he’s, He’s, Micah Parsons, Parsons, Pro Bowler, Roger Steinman, Mike McDonald –, Dallas, Pete Carroll Organizations: CNN, NFL, Seattle Seahawks, American, Atlanta Falcons, CNN Sport, London Olympians, Scottish, Hamburg, Devils, Carolina Panthers, Kansas City Chiefs, London Warriors, Dallas Cowboys, Brit Osi, IPP, Washington, Philadelphia Eagles ’, Wales rugby international, Eagles, ”, Falcons, Atlanta Journal, Cowboys, Dallas, Seahawks, Durde Locations: Aden, British, London, Britain, Greenwich, NFL Europe, Hamburg’s, Europe, Atlanta, Texas, Durde’s, Dallas, Seattle

☆ 'Your personality will get you 10 times richer than your intelligence,' says self-made millionaire who retired at 35
▼ + stars: | 2024-04-23 | by ( Ryan Ermey | ) www.cnbc.com time to read: +5 min

"Coming out of college, I just kind of assumed I'd have to be the smartest person in the office. But in the real world, your emotional intelligence — sometimes called EQ — is every bit as essential, if not more so, he says. "Your personality will get you 10 times richer than your intelligence," Adcock says. Steve Adcock left his corporate job in 2016 at age 35, having saved about $900,000. It could be the person whose career you aspire to have or the colleague you enjoy working with the most.

Persons: Adcock, he's, Steve Adcock, That's what's, Vicki Salemi, Monster, Salemi Organizations: CNBC

☆ Earnings this week will be dominated by Big Tech. What analysts expect
▼ + stars: | 2024-04-23 | by ( Samantha Subin | ) www.cnbc.com time to read: +7 min

Big technology earnings this week could offer a much-needed catalyst for a market under pressure. Last week, the S & P 500 and Nasdaq Composite notched their longest daily losing streaks since October 2022, with the broad index posting its worst week since March 2022. Big Tech's performance this week could set the tone for the rest of earnings season and revive the market momentum. Tesla Tesla launches the reporting period for the "Magnificent Seven" stocks, with results due out after the bell Tuesday. Meta Platforms Meta Platforms ' results are due out after the bell Wednesday.

Persons: Tesla, Elon Musk, John Murphy, Longtime Deutsche Bank Tesla, Emmanuel Rosner, Brent Thill, Bernstein, Mark Shmulik, Doug Anmuth, Justin Post, Goldman Sachs, Eric Sheridan, Jefferies, Bernstein's, Wells Fargo's Michael Turrin, Piper Sandler's Brent Bracelin, Kash Rangan, Brad Zelnick, OpenAI, Satya Nadella Organizations: Federal Reserve, Nasdaq, Tesla Tesla, Bank of America, Barclays, Longtime Deutsche Bank, Microsoft, Deutsche, NVIDIA Locations: China

☆ Election Updates: Biden to campaign in Florida, keeping the focus on abortion.
▼ + stars: | 2024-04-23 | by ( Nicholas Nehamas | Patricia Mazzei | ) www.nytimes.com time to read: +6 min

The Biden campaign has made abortion one of its top issues, as polling shows it is one of the few subjects in which voters place more trust in Mr. Biden than Mr. Trump. While the vote could motivate liberal and independent voters to come to the polls, Mr. Biden would have to invest heavily in Florida to defeat Mr. Trump, which his campaign has not yet done. “Trump did this” has become a frequent messaging slogan from the Biden campaign. The Biden campaign, she said, should not give up on the nation’s third-largest state. Although the Biden campaign has a significant financial advantage over Mr. Trump’s operation, it has not spent heavily in Florida compared with the major battlegrounds.

Persons: Biden, Donald J, Trump, Biden’s, Floridians, Donald Trump, ”, Michael Tyler, “, Roe, Wade, “ Trump, Ron DeSantis, Debbie Mucarsel, Powell, Rick Scott, Ms, Mucarsel, DeSantis, ” Mr, Tyler, “ We’ve, Lauren Brenzel, ” Alex Andrade, Mr, Andrade Organizations: Biden, Republicans, Gov, Republican, Democratic, Florida Locations: Florida, Tampa, Trump . Florida, Arizona, Florida , Arizona, Miami, “ Florida, Kentucky , Kansas, Ohio, Dade County, Hialeah Gardens, Fla

☆ Apple sinks to 3rd place in China as iPhone sales slide
▼ + stars: | 2024-04-23 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

A slide in iPhone sales has left Apple in third place in China, per Counterpoint Research estimates. Chinese-based rivals Vivo and Honor outpaced Apple's sales in the first quarter of the year, per Counterpoint data. AdvertisementIn stark contrast with Apple's slide, Huawei sales soared by almost 70% compared with the first three months of 2023. Counterpoint research analyst Ivan Lam said in a note that Huawei's surge had directly affected iPhone sales in China. NurPhoto/Getty ImagesDespite the stiff competition, Lam said iPhone sales could still reverse their downward slide.

Persons: —, Apple's, Ivan Lam, Apple, Tim Cook, Cook, Lam Organizations: Apple, Service, Counterpoint Research, Vivo, Huawei, China, Forum, Publishing, Getty, European Commission, Department of Justice, Business Locations: China, Huawei's, Shanghai, Beijing, Europe

☆ ‘Cabs to get into space’: How this Indian startup wants to revolutionize satellite space travel
▼ + stars: | 2024-04-23 | by ( Amy Gunia | ) edition.cnn.com time to read: +7 min

But its private sector has played a limited role in space exploration, acting mostly as suppliers and vendors for its national space agency, the Indian Space Research Organization (ISRO). “Very few companies globally are able to make it to orbit yet.”Pawan Chandana, the co-founder of Skyroot Aerospace Skyroot Aerospace Pvt. As Indian space startups mature over the coming years, he expects the government to become a customer, enabling further growth. Many private space companies source income from governments, including Space X, which has raked in billions of dollars from US government contracts. In November 2022, Skyroot Aerospace launched India's first privately built rocket, Vikram-S. Skyroot Aerospace Pvt.

Persons: Vikram, ” Pawan Chandana, “, Pawan Chandana, Narendra Modi, ”, Susmita Mohanty, Skyroot, Chandana, ridesharing, Kari Bingen, Modi, Mohanty Organizations: CNN, Indian Space Research Organization, ISRO, Elon, SpaceX, Skyroot Aerospace, Skyroot Aerospace Skyroot Aerospace, . Ltd, McKinsey & Company, Economic, ’, LEO —, Vikram Sarabhai, Aerospace Security, Center for Strategic, International Studies, Deloitte, India’s, NASA Locations: India, United States, Hyderabad, Thiruvananthapuram, Singapore

☆ Tesla earnings are coming up. Here's what traders are looking for in the report
▼ + stars: | 2024-04-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

Tesla is due to report earnings after the bell Tuesday, with Wall Street looking for any sign of a reprieve from this year's struggles. Here's the company's setup heading into the report, what analysts expect and which product updates analysts and investors are going to focus on. Big earnings drop expected For the first quarter, analysts polled by LSEG expect Tesla to report earnings of 51 cents per share, which represents a 39.8% year-over-year decline in earnings. Wells Fargo's Colin Langan maintained his underweight rating and cut his price target to $120 a share, citing poor fundamentals. Deutsche Bank's Emmanuel Rosner downgraded the stock to hold from buy and slashed his price target to $123 a share.

Persons: Tesla, Tom Narayan, Itay Michaeli, Wells Fargo's Colin Langan, Deutsche Bank's Emmanuel Rosner, Rosner, Morgan Stanley's Adam Jonas, Jonas, Elon Musk, Musk, America's John Murphy, Murphy, Deutsche Bank's Rosner, Levy Organizations: Management, RBC, LSEG, Citi, Deutsche, EV, Reuters, America's, Barclays, Tesla

☆ A City Tries to Measure the Violence It’s Preventing
▼ + stars: | 2024-04-22 | by ( Mark Obbie | ) www.nytimes.com time to read: +31 min

Headway A City Tries to Measure the Violence It’s Preventing In Baton Rouge, a public safety experiment could help to answer a critical question: Do community efforts to reduce street violence work? Like Ms. Robinson, Ms. Tate-Alexander, 48, raised her family in Baton Rouge. Baton Rouge became the first city outside New Jersey to be tutored in the Newark method. Calming the urge to retaliateBy June 2021, when Ms. Tate-Alexander started assembling the street team, Ms. Robinson joined up. At first, Ms. Robinson and Ms. Tate-Alexander seemed wary when I asked about him.

Persons: Angel Hawkins, Liz Robinson, Sateria Tate, Alexander, Tamikka, Liz, Louis Robinson’s, Louis Jr, Robinson, “, ‘, ’ ”, Louis, Louis BadAzz, —, Louis Robinson Jr, ’, Murphy Paul, Paul, Sharon Weston Broome, Alton Sterling, ”, Karan Deep Singh, Kathleen Flynn, Biden, Nina Revoyr, Ms, Tate, Aqeela Sherrills, Sherrills, Terrell, Mr, Aqeela, Courtney Scott, . Tate, ” Ms, Gerald Haynes, Haynes, hotheads, Khoury Brown, Geaux, he’s, Geaux Yella, Darius Crockett, Crockett, Kayla Atkins, Markel, Atkins, ” Mr, “ I’m, “ I’ll, ” Markel, Atkins’s, Gary Slutkin, Jeffrey A, Butts, John Jay, Dr, Scott, “ We’re, It’s, They’ll, that’s, interventionists, Stacy Adams fedora, George Floyd, Weeks, brutalized, Paul’s, Thomas S, Morse, Dy’Lan Fillmore, Mitchell, Fillmore, Robinson’s Organizations: The New York Times, Army, Louisiana State Police, Police, Baton Rouge Police Department, Centers for Disease Control, National Institute for Criminal, Ballmer Group, Baton, Bloods, Biden White House, Markel, Research, John, John Jay College of Criminal, Statistics, University of California, Newark, Metropolitan, Murphy Paul Rally, Mr Locations: Baton Rouge, La, Iraq, Afghanistan, Black, United States, —, Federal, Newark, N.J, Watts, Los Angeles, New Jersey, Chicago, Baton

☆ Express files for bankruptcy, plans to close nearly 100 stores as investor group looks to save the brand
▼ + stars: | 2024-04-22 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

The company said hours for remaining stores won't change and it will continue to accept orders and returns as usual. "The proposed transaction will provide Express with additional financial resources, better position the business for profitable growth and maximize value for the Company's stakeholders," Express said. "We are taking an important step that will strengthen our financial position and enable Express to continue advancing our business initiatives," he added. Last spring, Express acquired Bonobos' operating assets and related liabilities for $25 million from Walmart in a joint deal with WHP. The deal came as Express' "core business was weak, and cash was tight," GlobalData managing director Neil Saunders said in a Monday note.

Persons: –, Stewart Glendinning, Neil Saunders, Saunders, Kirkland Organizations: Express Inc, Longtime, Express, WHP, Simon Property Group, Brookfield Properties, Les Wexner's, CNBC, Walmart, Powerhouse, Ellis, Partners Locations: New York, U.S

☆ While some companies are cutting the CMO role, Gen Z marketers still strive for the top job
▼ + stars: | 2024-04-22 | by ( Leila Jordan | ) www.businessinsider.com time to read: +7 min

The CMO role at several companies, including Walgreens, Uber, and Starbucks, has been eliminated. A 2023 McKinsey report found that 40% of Fortune 500 companies don't have a CMO or another growth- or customer-related position in their CEO's executive committee. But role models like Rare Beauty's CMO, Katie Welch, offer young marketers hope for the profession's future. "Businesses that are eliminating the CMO role or pulling it into something else, the leadership in those companies don't see the value of marketing," she said. "She knows how to market to Gen Z," Hyams said.

Persons: —, Katie Welch, Piper Phillips, Piper Phillips Piper Phillips, Phillips, I've, Natasha Badger, Badger, Katie Welch Lindsey Hyams, Lindsey Hyams, Hyams, Z, Welch, Vijat Organizations: Service, Walgreens, Uber, Starbucks, McKinsey, Fortune, Business, Tru, LinkedIn, Lindsey Hyams Industry Locations: —

☆ A major headwind for TikTok could be the ultimate tailwind for Meta's Facebook and Instagram
▼ + stars: | 2024-04-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

META mountain 2022-11-03 Meta's stock performance since Nov. 3, 2022, which marked its lowest close during its dramatic sell-off that year. In a recent Wedbush consumer survey, 60% of TikTok users who responded said either Facebook or Instagram were their top alternatives if TikTok were to be banned. That was followed by 19% of TikTok users who said they would go to YouTube. Meanwhile, Deutsche Bank said Meta's stock could see more upside in light of a potential TikTok ban. After initially being a drag on revenue, Meta has said Reels is now a positive contributor across its apps.

Persons: Jim, Joe Biden, ByteDance, Shou Zi Chew, TikTok, –, FactSet, monetization, Philipp Schindler, We'll, Jim Cramer's, Jim Cramer, Avishek Das Organizations: Facebook, Chinese Communist Party, CNBC, Street, Meta, YouTube, Google, Wedbush Securities, Deutsche Bank, Getty Locations: U.S, Washington, Ukraine, Israel, Taiwan, China

☆ Express files for bankruptcy; closing more than 100 stores
▼ + stars: | 2024-04-22 | by ( Parija Bhatnagar | ) edition.cnn.com time to read: +2 min

New York CNN —Trendy fashion retailer Express Inc. has filed for bankruptcy after consistently struggling with continued missteps over its merchandise mix that failed to get shoppers excited. The retailer filed with the bankruptcy court in Delaware and said it also plans to shutter several stores as part of the process. The company operates Express, Express factory outlets, Bonobos and UpWest stores under its corporate umbrella and said in a release Monday that it plans to close 95 Express locations (it operates more than 500 in the US) and all UpWest locations with closing sales at those stores set to begin on April 23. “With the company struggling to gain traction with consumers, it has been obvious for quite some time that bankruptcy was the inevitable destination for Express,” Neil Saunders, managing director of GlobalData, said in a note Monday. “We are taking an important step that will strengthen our financial position and enable Express to continue advancing our business initiatives.

Persons: “, Neil Saunders, GlobalData, ”, Saunders, ” Stewart Glendinning, “ WHP, ” Glendinning Organizations: New, New York CNN, Express Inc, Express, WHP Global Locations: New York, Delaware

☆ Here are the top 10 smartest cities in the world — and none are in the U.S.
▼ + stars: | 2024-04-22 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +4 min

These are the ten smartest cities in the world, according to IMD. This year's index was produced by the IMD World Competitiveness Center's Smart City Observatory in collaboration with the World Smart Sustainable Cities Organization (WeGO) that's based in Seoul, South Korea. Smart cities in Europe and Asia are gaining ground globally while North American cities have fallen down the ranks, according to the 2024 Smart City Index released April. Here are the top 10 smart cities, according to the 2024 Smart City Index. While European cities dominated the list, Asian cities are gaining ground too.

Persons: Bruno Lanvin, Lanvin Organizations: IMD, Smart, Smart Sustainable Cities Organization, United Arab Emirates, Washington DC, San, U.S, Boston, CNBC Locations: Seoul, South Korea, Europe, Smart, Asia, Zurich, Switzerland Oslo, Norway Canberra, Australia Geneva, Switzerland Singapore Copenhagen, Denmark Lausanne, Switzerland London, England Helsinki, Finland Abu Dhabi, Denver, Los Angeles, San Francisco, New York City, Chicago, Singapore, Beijing, Taipei City, Shanghai

☆ Tesla shares slide to 15-month low ahead of earnings, as Wall Street frets over price cuts, layoffs
▼ + stars: | 2024-04-22 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

Tesla shares fell for a seventh straight day, reaching their lowest since January 2023, as further price cuts over the weekend added to mounting concerns heading into the company's first-quarter earnings report Tuesday. Tesla also lowered the price of its premium driver assistance system by one-third. The price cut follows a monthlong free trial that Tesla pushed out to customers throughout North America starting in late March. "Since late 2023, sentiment on Tesla (TSLA) has deteriorated," John Murphy, an analyst at Bank of America, wrote in a note on Monday. WATCH: Tesla stock hits 52-week low ahead of earnings

Persons: Elon Musk, Tesla, John Murphy, Murphy, Joseph Spak, Spak, — CNBC's Michael Bloom Organizations: New York Times, Jazz, Lincoln Center, North America, National, Traffic Safety Administration, CNBC, Bank of America, Reuters, UBS, EV, Traders, S3 Partners, Apple Locations: New York City, U.S, China, Europe

☆ Should the SAT still matter after all these years? Why some colleges are bringing it back
▼ + stars: | 2024-04-21 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +15 min

The longest-enduring standardized college admissions test in the nation, the SAT has faced decades of controversy over bias and criticism for reducing aspiring college students to a test score. Discrepancies with standardized testing appear to be symptomatic of the inequality endemic to the education system. In 2005, the College Board added an 800-point writing section to the exam alongside its math and verbal reasoning sections. In this Jan. 17, 2016 file photo, a sign is seen at the entrance to a hall for a college test preparation class in Bethesda, Md. Alex Brandon/APThe College Board told CNN it has also done away with its esoteric vocabulary in the past decade.

Persons: ”, Carl Brigham, Brigham, classism —, Daaiyah Bilal, Harry Feder, Barnes, Noble, Mario Tama, haven’t, Daniel Koretz, Koretz, Scott Eisen, Brown, ” Dartmouth, Ethan Hutt, Horace Mann, Warren K, Leffler, Alex Brandon, It’s, Rachel Rubin, Jack Schneider, ” Schneider, David Coleman, “, ” Coleman, it’s Organizations: New, New York CNN, National Center for Fair, Princeton, College Board, CNN, National Education Association, ACT, Ivy League, Harvard’s Graduate School of Education, Harvard’s, Dartmouth College, Yale, Dartmouth, Harvard, University of Florida, University of Texas, ” UT Austin, College Board's, University of North, Chapel Hill’s School of Education, Massachusetts, of, Phillips Exeter Academy, of Congress, Census, Board, UMass Amherst’s Center for Education, Holton Arms, The College Board, Khan Academy, The Locations: New York, New York City, United States, Guatemala, Hanover , New Hampshire, Georgetown, Austin, Dartmouth, University of North Carolina, Hutt, “, Boston, Harvard, Bethesda, Md, Iowa, Northeast

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