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StubHub is delaying a potential initial public offering until after Labor Day, according to a person familiar with the deal. The online ticketing service had been eyeing a summer IPO, aiming for a valuation of at least $16.5 billion. The company has been working with JPMorgan and Goldman Sachs over the past two years on the IPO, CNBC previously reported. If StubHub does enter the public market, it will trade alongside competitors Vivid Seats and Live Nation. Vivid Seats has a market cap of $1.5 billion and Live Nation is valued at just under $23 billion.

Persons: StubHub, haven't, Goldman Sachs, Eric Baker, SeatGeek, Wells Fargo, Morgan Stanley, Taylor Organizations: Labor, JPMorgan, CNBC, eBay, Bloomberg, Citigroup, Wells, Vivid Locations: San Francisco

☆ Nicolas Cage’s son ‘voluntarily surrendered himself’ to LAPD following an April incident
▼ + stars: | 2024-07-12 | by ( Dan Heching | Sarah Moon | ) edition.cnn.com time to read: +1 min

CNN —Nicolas Cage’s son Weston Cage has turned himself in to police in Los Angeles after an incident that took place earlier this year. When I arrived to offer support and console him, he was already in the midst of a manic rage. “As a mother, I am deeply saddened and concerned about Weston’s on-going mental health crisis. It is imperative that he receives the help he desperately needs.”CNN has reached out to LAPD for further comment, as well as to representatives for Nicolas Cage and Weston Cage. Weston Cage, a 33-year-old musician and actor, is Nicolas Cage’s eldest child.

Persons: CNN — Nicolas Cage’s, Weston Cage, Cage “, ”, “, ” “, Weston’s, Christina Fulton, ” Fulton, Nicolas Cage, Nicolas Cage’s Organizations: CNN, Los Angeles Police Department, Los Angeles, Cage, Police Locations: Los Angeles

☆ Stocks making the biggest premarket moves: Wells Fargo, JPMorgan, Tesla, Carvana and more
▼ + stars: | 2024-07-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading: Wells Fargo — Shares tumbled 6% after the bank reported $11.92 billion in net interest income for the second quarter, a 9% year-over-year decline . Analysts polled by FactSet were expecting $12.12 billion in net interest income. Wells Fargo also reiterated its full-year forecast of a 7% to 9% decrease in net interest income. JPMorgan Chase — The bank slipped 1.6% despite reporting a revenue beat for the second quarter. Carvana — Shares of the used car seller added 1.3% after BTIG initiated coverage of the stock at a buy rating.

Persons: Wells, FactSet, Wells Fargo, JPMorgan Chase, Tesla, Carvana, Fastenal, —, Sarah Min, Jesse Pound, Pia Singh Organizations: JPMorgan, Revenue, LSEG, UBS, Bloomberg

☆ Consumers are getting 'really choosy' as cracks emerge. Here's what that means for investors
▼ + stars: | 2024-07-12 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Pressures faced by lower-income consumers have been smoothed over by robust spending from the middle- and higher-income cohort. 'A shift in priorities' Even with cracks emerging in the consumer, many investors anticipate a soft landing for the economy. "They are spending, but they're being more particular than they were before in terms of what they're spending on," she added. "As more consumers shift their meal preferences to eating at home as opposed to eating out, that could provide a catalyst to lift these stocks valuations," he wrote. Sekera also noted travel as one area where consumers are continuing to spend, even as they pull back on other purchases.

Persons: Bill Merz, They're, Lindsay Rosner, there's, Dave Sekera, Morningstar, Kraft Heinz, Kellanova, Sekera, Goldman Sachs, Rosner Organizations: PepsiCo, U.S, Bank Asset Management, Goldman Sachs Asset Management, HSBC, Viking Holdings, Worldwide Holdings, Marriott International, Walmart, Target, Kraft Locations: U.S, delinquencies

Calls for Joe Biden to drop out of the 2024 presidential race are mounting. But can Biden be forced off the campaign trail? Here are three ways this could unfold. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.

Persons: Joe Biden, Biden Organizations: Business

The takeaway was a split decision: Biden rambled and misspoke several times, but also displayed the confidence and depth of knowledge that his supporters had hoped to hear. Yet for many donors and Democratic officials, the performance wasn’t enough to settle the debate over whether he should stay in the race. Biden demonstrated his command of foreign policy at the news conference. Biden made two headline-making flubs: calling Vice President Kamala Harris “Vice President Trump,” and saying he followed the advice of his “commander in chief” — his own title — about military aid to Ukraine. (Earlier in the day, he introduced President Volodymyr Zelensky of Ukraine as “President Putin” before quickly correcting himself.)

Persons: Biden’s, Biden rambled, Biden, Kamala Harris “, Trump, ” —, Volodymyr Zelensky, Putin ” Organizations: NATO, Democratic Locations: Russia, China, Ukraine, Gaza

Average 30-year mortgage rates fell to 6.89%, down six basis points from the week before, according to Freddie Mac. As inflation slows and the Federal Reserve is able to start lowering the federal funds rate, mortgage rates are expected to trend down. This would remove a significant amount of upward pressure off of mortgage rates, allowing them to finally trend down. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Now that the Fed has paused hiking rates, mortgage rates have come down a bit.

Persons: Freddie Mac Organizations: of Labor Statistics, Federal Reserve, Zillow, Fed Locations: May's, Chevron

☆ New UK listing rules aim to simplify current regime, boost stock market, FCA says
▼ + stars: | 2024-07-11 | 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 EmailNew UK listing rules aim to simplify current regime, boost stock market, FCA saysSarah Pritchard, executive director for markets and international at the FCA, discusses the U.K.'s new listing rules.

Persons: Sarah Pritchard Organizations: FCA

☆ 'There's a lot of conversations to be had' about Biden's candidacy, says Evercore's Sarah Bianchi
▼ + stars: | 2024-07-11 | 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 Email'There's a lot of conversations to be had' about Biden's candidacy, says Evercore's Sarah BianchiSarah Bianchi, Evercore ISI head of U.S. public policy and political strategy research, joins CNBC's 'The Exchange' to discuss the U.S. senators caucus lunch with Biden aides, increasing calls for Biden to step aside from presidential race, and more.

Persons: Sarah Bianchi Sarah Bianchi, Evercore, Biden

On Today’s Episode:For First Time, NATO Accuses China of Supplying Russia’s Attacks on Ukraine, by David E. SangerBiden’s High-Stakes Moment: Tonight’s NATO News Conference, by Michael D. Shear, Katie Rogers, and Michael M. GrynbaumHospitals in Houston ‘Backed Up’ After Hurricane, as Millions in U.S. Swelter, by Isabelle Taft and Judson JonesFrance Is Busing Homeless Immigrants Out of Paris Before the Olympics, by Sarah Hurtes and Ségolène Le Stradic

Persons: David E, Sanger Biden’s, Michael D, Katie Rogers, Michael M, Isabelle Taft, Judson Jones, Sarah Hurtes, Le Stradic Organizations: NATO, Conference, Grynbaum Locations: China, Ukraine, Houston, Judson Jones France, Paris

☆ Apple's Vision Pro sales are way lower than expected. That might not turn around until it lowers the $3,500 price.
▼ + stars: | 2024-07-11 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

Don't look, Apple: There's more bad news for the Vision Pro. The headset is expected to sell fewer than a half million units this year. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIt's been a few months since the Apple Vision Pro launched in the US, but sales are still looking pretty lackluster.

Persons: —, It's Organizations: Vision, Service, Apple Vision Pro, Bloomberg, IDC, Business

☆ Here's the inflation breakdown for June 2024 — in one chart
▼ + stars: | 2024-07-11 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

They also generally like to examine "core" inflation readings. The monthly core CPI reading was 0.1% in June, the smallest increase in about three years, since August 2021. Shelter inflation has moderated much slower than expected, one of the big reasons inflation hasn't yet fallen back to target, economists said. There were encouraging signals in the latest CPI report: Monthly shelter inflation dropped to 0.2% after being stuck at 0.4% for four consecutive months. Services inflation is the trouble spotInflation for physical goods spiked as the U.S. economy reopened in 2021.

Persons: David Paul Morris, Mark Zandi, Zandi, Sarah House, Aubrey George, George, Joe Seydl, Olivia Cross Organizations: Bloomberg, Getty, U.S . Labor Department, Moody's, Wells, Wells Fargo Economics, U.S . Federal Reserve, CPI, Housing, of Labor Statistics, Morgan Private Bank, Capital Economics, BLS Locations: U.S, Wells Fargo, North America

☆ A historically hot summer is on a killing spree and it shows no signs of stopping
▼ + stars: | 2024-07-11 | by ( Mary Gilbert | ) edition.cnn.com time to read: +5 min

CNN —A historically hot summer in the United States is on a July killing spree and the toll will only grow with the hottest days yet to come. It’s been the hottest summer on record to date for around 100 US cities from Maine to California. Nine were over the age of 65, the county medical examiner told CNN. At least 10 suspected heat deaths are being reported in Oregon. The region is still typically quite hot in July even without heat reaching record levels daily.

Persons: It’s, Hurricane Beryl, –, Nebraska –, Etienne Laurent, ” David S, Jones, ” Jones, Rachel Ramirez, Sara Smart, Jillian Sykes, Sarah Dewberry, Raja Razek, Chris Boyette, Jamiel Lynch, Cheri Mossburg, Amanda Musa Organizations: CNN, Phoenix Police Department, Phoenix, Getty, National Park Service, Harvard University, Center Locations: United States, Maine, California, Santa Clara County , California, Santa Clara, Southeast Texas, Arizona, Georgia, Texas, Nebraska, Phoenix, Maricopa County, Oregon, Portland’s Multnomah County . Portland, Valley, Mesquite, Death, Furnace, Southern California, West

If you could use a free hotel stay this year, consider signing up for the no-annual-fee Marriott Bonvoy Bold credit card. This is the best offer we've ever seen on the Marriott Bonvoy Bold® Credit Card , which is the only option out of six Marriott Bonvoy credit cards that doesn't come with an annual fee. Marriott credit cards only earn Bonvoy points, so they're not a good fit for anyone seeking a well-rounded travel rewards credit card. Only offers strong rewards for Marriott purchases Insider’s Take The Marriott Bonvoy Bold® Credit Card comes with an increased limited-time welcome bonus and good perks for a no-annual-fee card, but unless paying an annual fee is a dealbreaker for you, other Marriott cards — like the Marriott Bonvoy Boundless® Credit Card , Marriott Bonvoy Brilliant® American Express® Card, or Marriott Bonvoy Business® American Express® Card — are a better deal. Marriott Bonvoy earning ratesSpeaking of earning Bonvoy points, Marriott Bonvoy Bold® Credit Card cardholders can now earn twice as many rewards on several common household categories.

Persons: Bold, Cardholders, they're, cardholders, Marriott Organizations: Business, Marriott, Gold Locations: Marriott, Maldives, Regis New York

☆ Stocks making the biggest moves premarket: Delta Air Lines, Costco Wholesale, Pfizer and more
▼ + stars: | 2024-07-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Delta Air Lines — Shares tumbled 9% after the airline issued a lower-than-expected sales growth forecast in the current quarter. Net income also fell 30% in the second quarter despite revenue reaching record highs. Costco Wholesale — Costco shares added nearly 3% after the wholesale club raised its membership fee for the first time since 2017 . Alcoa — The aluminum producer's shares rose 2.7% after releasing preliminary second-quarter results that came in stronger than expectations. MicroStrategy – MicroStrategy shares rose more than 4% after the bitcoin development company announced a 10-for-1 stock split .

Persons: Morgan Stanley, Jefferies, MicroStrategy, —, Jesse Pound, Tanaya Macheel, Michelle Fox, Alex Harring, Hakyung Kim, Sarah Min Organizations: Delta Air Lines, Costco Wholesale, Costco, Pfizer, PepsiCo —, Pepsi, Semiconductor, Darden, Jefferies, Alcoa, FactSet, FactSet . Revenue, Spotify Locations: U.S, Canada, FactSet .

Average 30-year mortgage rates have been hovering in the upper 6% range so far this month, according to Zillow data. That would likely mean we'd need to wait longer for mortgage rates to drop. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Lower mortgage rates will bring more buyers onto the market, putting upward pressure on prices.

Persons: Fannie Mae Organizations: Federal Reserve, Fed, Zillow, Mortgage, Association, ARM Locations: Chevron

☆ France Is Busing Homeless Immigrants Out of Paris Before the Olympics
▼ + stars: | 2024-07-11 | by ( Sarah Hurtes | Ségolène Le Stradic | ) www.nytimes.com time to read: 1 min

The French government has put thousands of homeless immigrants on buses and sent them out of Paris ahead of the Olympics. The immigrants said they were promised housing elsewhere, only to end up living on unfamiliar streets far from home or flagged for deportation. President Emmanuel Macron of France has promised that the Olympic Games will showcase the country’s grandeur. But the Olympic Village was built in one of Paris’s poorest suburbs, where thousands of people live in street encampments, shelters or abandoned buildings. City officials encourage them to board buses to cities like Lyon or Marseille.

Persons: Emmanuel Macron, Christophe Noël du Organizations: Olympics, Olympic Locations: Paris, France, Lyon, Marseille

Microplastics have infiltrated our bodies, including the brain, blood, organs, and even penises. What are the health risks, and how can we avoid them? This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account?

Persons: Microplastics Organizations: Business

☆ Meet Lady Sarah Rose Hanbury, a British noblewoman whose family has been linked to royals for generations
▼ + stars: | 2024-07-11 | by ( Talia Lakritz | Maria Noyen | ) www.businessinsider.com time to read: +1 min

Reports that Prince William had an affair with Rose Hanbury have been quietly deleted from some news websites. Rumors circulating about Rose Hanbury and Prince William first emerged in 2019. Max Mumby/Indigo/Getty Images, Chris Jackson/Getty ImagesRumors about a relationship between Hanbury and William have been swirling since at least 2019. The talk about Hanbury and William ebbed and flowed in the years that followed, sometimes given a wider audience on social media as well as US and UK media publications. The outlets, Kensington Palace, and representatives for Hanbury didn't respond to July 10 requests for comment from BI.

Persons: Prince William, Rose Hanbury, Max Mumby, Chris Jackson, Hanbury, William, William ebbed, Vulture, Hanbury didn't Organizations: Daily, European, Human Rights, Daily Mail Locations: Kensington

A brutal 24 hoursPresident Biden and his allies may have thought they had stemmed a rebellion by fellow Democrats and donors after his debate debacle. Some Democratic lawmakers made clear that they weren’t falling into line behind Biden. She said she would back whatever decision he takes, but the equivocal comments were seen as offering other Democrats space to speak up. Hours later, Peter Welch of Vermont became the first Democratic senator to call on Biden to withdraw. “We can’t unsee what we saw” at the debate, Welch told The Times, adding that Donald Trump’s returning to power would be a “catastrophe.”

Persons: Biden, Nancy Pelosi, MSNBC’s, Joe ”, Peter Welch of, Welch, Donald Trump’s Organizations: NATO, Democratic, White, The Times, Peter Welch of Vermont, Times

Samsung Galaxy Ring Samsung's new Galaxy Ring brings health tracking to a new discreet level. Check price at Amazon Check price at Samsung What we like Check mark icon A check mark. No screen for interacting withSamsung Galaxy Ring featuresThe Samsung Galaxy Ring is similar to a fitness tracker or smartwatch but with a much smaller form factor. One of the main benefits of a Galaxy Ring, when compared to the Oura Ring, is the lack of a membership fee. Learn more about the new device and our impressions after trying it in our Samsung Galaxy Ring features breakdown.

Persons: it's Organizations: Business, preorder, Samsung, Amazon, Samsung Galaxy, Ring, Galaxy AI

☆ Lionel Messi inspires Argentina to second consecutive Copa América final
▼ + stars: | 2024-07-10 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

CNN —Lionel Messi helped guide Argentina to this year’s Copa América final after scoring in his nation’s 2-0 win against Canada in the semifinals on Tuesday. It means Argentina has now reached the Copa América final in six of the previous eight tournaments, with this being its second in row – the South American side won the 2021 title. It is not easy to be in a final again, to compete again to be champions,” Messi told TyC Sports after the match, per Reuters. Messi, possibly playing at his final Copa América for Argentina, then started finding his stride and went close twice before the end of the first half. Canada is now the 38th team that Lionel Messi has scored against while playing for his country, per Opta.

Persons: Lionel Messi, Julián Álvarez, “, ” Messi, TyC, Jesse Marsch, Jacob Shaffelburg, Álvarez, Sarah Stier, Ballon d’Or, Enzo Fernández’s, Maxime Crépeau, it’s, ” Marsch, we’ve Organizations: CNN, Copa América, Canada, American, TyC Sports, Reuters, Messi, Inter Miami Locations: Argentina, Uruguay, Colombia, Sunday’s, Miami Gardens , Florida, Canada, Sunday's, Mexico

Powell’s balancing actThe S&P 500 is on a six-day winning streak and closed at another record on Tuesday, as investors grow more confident that the Fed could cut interest rates soon. The market rally came after Jay Powell, the Fed chair, made encouraging comments about inflation and the labor market in his first of two days of testimony on Capitol Hill. Lowering rates prematurely could risk reigniting inflation, and doing so too slowly could undermine growth. “We’re very much balancing those two risks, and that’s really the essence of what we’re thinking about these days,” Powell told the Senate Banking Committee on Tuesday. In something of a rarity in recent months, financial services stocks led the way on Tuesday.

Persons: Jay Powell, that’s, ” Powell, Powell Organizations: Capitol, Senate, Wall

The NATO official said they had observed “an unprecedented escalation and spread of Russia’s hybrid warfare” over the past six months, which included “physical sabotage” on the supply line of NATO weapons intended for Ukraine. “It is everything from point of production and origin, to storage, to those who are making decisions, to the actual delivery,” the senior NATO official said. Recent high-profile arrests have revealed the ad-hoc, clumsy nature of how the Kremlin’s intelligence operations have evolved since the start of the war in Ukraine. Russia is big enough to have resources to fight a war against Ukraine and also maintain its security operations against European countries… against us. There are people who take part in the war against Ukraine, and then they are rotated to some other region or area.

Persons: Blunt, ”, Donald Tusk, Dariusz Borowicz, Agencja Wyborcza.pl, Maxim, Andrzej, Jaroslaw, “, Don’t, ” Andrzej, I’d, Wagner, Volodymyr Zelensky, Sean Gallup, Paris Charles de, Vladimir Putin’s, Harrys Organizations: CNN, NATO, Polish, Reuters, Ukraine, Getty, London’s Metropolitan Police Service, Kremlin, EU, Estonian Locations: Ukraine, Russia, Europe, “, Reuters Russia, Washington , DC, Moscow, Poland, Russian, Lublin, Medyka, Ukrainian, Biala Podlaska, Warsaw, Polish, surveilling Rzeszow Jasionka, Kyiv, Berlin, Germany, Russian Ukrainian, Paris Charles, Paris Charles de Gaulle, East London, Estonia, Russia’s

☆ These bank stocks are cheap and expected to rally
▼ + stars: | 2024-07-10 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

These bank stocks are cheap and expected to jump, according to CNBC Pro. The bank stock has underperformed this year, down more than 7%. But it's expected to surge 19% to its consensus price target, and has a forward P/E of 10.6. The stock is expected to gain 17% from here, and looks relatively cheap with its 10.1 forward P/E. It has a forward P/E of just 8.4.

Persons: Wells, Goldman Sachs, Morgan Stanley, It's, Stephens Organizations: CNBC Pro, Citigroup, JPMorgan Chase, Bank of America, Silicon Valley Bank, Regional Banking, CNBC, KBW Nasdaq, U.S, Bancorp, U.S . Bancorp, Western Alliance, East West Bancorp Locations: Wells Fargo, Silicon

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