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☆ Dollar Tree sees weak 2023 profit as costs mount, shoppers curb spending
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

March 1 (Reuters) - Dollar Tree Inc (DLTR.O) forecast full-year profit below Wall Street estimates on Wednesday, as costs mount and consumers restrict spending on discretionary products like apparel and party supplies. Shares of the discount store operator were down about 4% in premarket trading after it also forecast first-quarter profit below expectations. Dollar Tree saw gross margin improve 70 basis points to 30.9% in the fourth quarter, helped by higher initial mark-on and lower freight costs. The company expects 2023 profit between $6.30 and $6.80 per share, well below analysts' estimate of $7.78 in Refinitiv IBES data. However, it forecast 2023 sales between $29.9 billion and $30.5 billion, above estimates of $29.86 billion.

☆ Dow futures rise on Wednesday evening as Salesforce shares pop on strong guidance: Live updates
▼ + stars: | 2023-03-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Futures tied to the Dow Jones Industrial Average rose in overnight trading as earnings season pressed on and Salesforce shares popped nearly 15% on a strong quarter and forward guidance. Along with Salesforce, Okta shares jumped 13% in overnight trading on solid earnings and guidance. S&P 500 futures and Nasdaq 100 futures added 0.08% and 0.10%, respectively. The tech-heavy Nasdaq Composite led Wednesday's losses, falling 0.66%, while the S&P 500 dipped 0.47%. The S&P 500 and the Nasdaq are on pace for their second consecutive losing week for the first time since December.

☆ Intel releases software platform for quantum computing developers
▼ + stars: | 2023-02-28 | by ( Jane Lanhee Lee | ) www.reuters.com time to read: +2 min

The platform, called Intel Quantum SDK, would for now allow those algorithms to run on a simulated quantum computing system, said Anne Matsuura, Intel Labs' head of quantum applications and architecture. Quantum computing is based on quantum physics and in theory can perform calculations quicker than conventional computers. Matsuura said developers can use the long-established programming language C++ to build quantum algorithms, making it more accessible for people without quantum computing expertise. "The Intel Quantum SDK helps programmers get ready for future large-scale commercial quantum computers," Matsuura said in a statement. Qubits, or quantum bits, are the basic unit of quantum computing.

☆ India to get heat waves this year after hottest February on record
▼ + stars: | 2023-02-28 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +2 min

"Enhanced probability of occurrence of heat wave during March to May season is likely over many regions of Central and adjoining Northwest India," the India Meteorological Department (IMD) said in a statement. In March, the crucial month for the maturity of winter-sown crops, above normal maximum temperatures are likely over most parts of the country except peninsular India, it said. India grows only one wheat crop in a year, with planting in October and November, and harvesting from March. A heat wave curtailed India's wheat production in 2022 and forced the world's second largest producer to ban exports. Average maximum temperature in February was 29.54 degrees Celsius, the highest since 1901, when the IMD started keeping weather records.

Those who experience a "gray divorce" can still retire comfortably by making vital life decisions. Spousal support plays a key roleAfter you do your budgeting, you might realize that you have to live with a lot less. Whether you're the one giving spousal support or receiving it, that number will make a huge difference in your financial future. Depending on your state, spousal support may not continue past the retirement age for Social Security, Harounian added. So if you get divorced at 60, you may only receive or give spousal support for five more years.

☆ Rupert Murdoch's son Lachlan ordered Fox News host to rein in 'smug and obnoxious' anti-Trump comments about the 2020 election, court docs show
▼ + stars: | 2023-02-28 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

Lachlan Murdoch said a Fox News host's comments were "smug and obnoxious", according to court docsLeland Vittert came under fire for challenging Trump's election fraud claims, the lawsuit said. Fox CEO Lachlan said journalist Leland Vittert's "anti-Trump" views were "[s]mug and obnoxious", according to a legal filing made as part of a $1.6 billion lawsuit by Dominion against Fox News. Dominion has accused Fox News of pushing baseless claims that voting machines were used in a plot to rig the 2020 election results. The company released a slew of private communications by the network's owner, Rupert Murdoch, and his top lieutenants, including his son, Lachlan. Fox News has disputed the Dominion lawsuit, saying that its right to discuss Trump's election fraud claims are protected under the First Amendment.

☆ The favorite trade today of Steve Eisman, from 'The Big Short,' is incredibly simple
▼ + stars: | 2023-02-27 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Renowned investor Steve Eisman, who called and profited from the 2007 housing crisis, revealed his favorite trade in the rapidly changing investing landscape — short term Treasurys. "We're buying bonds, especially Treasurys," Eisman, senior portfolio manager at Neuberger Berman, said Monday on CNBC's " Squawk Box ." "Assuming that we take the Fed at its word, which is obviously questionable, rates will stay higher for much longer," Eisman said. The "Big Short" investor believes that the sharp ascent in yields has created a new paradigm in the investing world, making growth-oriented, technology stocks less appealing. Laddering bonds means building out a portfolio of issues with different maturities and then reinvesting the proceeds as the bonds mature.

☆ ‘Big Short’ investor Steve Eisman says the easy days of buying tech stocks to beat the market are over
▼ + stars: | 2023-02-27 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Gone are the days when investors could win by simply buying technology stocks, Steve Eisman of "The Big Short" fame said on Monday. The sharp rise in yields could dent the appeal for equities and hurt asset prices, especially those for growth-oriented stocks. So they've invested in tech stocks, and they've invested in hyper growth stocks, meaning big revenue growth, no earnings, and valuation be damned," Eisman said. "I think the days of investing in companies that have no earnings or have multiples of 200 times will be gone." "I'm not saying you stop buying tech, I think you have to be selective, when you're talking about companies... that have high revenue growth and have negative earnings," Eisman.

☆ Jim Cramer's Investing Club meeting Monday: Stocks edge up, Nvidia, Salesforce
▼ + stars: | 2023-02-27 | by ( Christopher Alessi | In | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Watch Nvidia's AI prowess "They are AI," Jim said of Club holding Nvidia (NVDA) on Monday. 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.

Recent price trends imply better profitability for U.S. farmers to plant corn over soybeans this year, and both analysts and USDA agree corn acres will rise above the year-ago levels. USDA’s 91 million corn acres were nearly identical to the trade’s 90.9 million and above last year’s 88.6 million. I polled Twitter on Wednesday for the most likely surprise in this year’s intentions, offering choices of corn acres high or low or soybean acres high or low. Those long-term tables also had 2023 wheat plantings at 47.5 million acres, soybeans at 87 million and corn at 92 million. USDA’s trend corn yield is calculated with planting progress and summer weather assumptions.

☆ Warren Buffett’s must-read annual letter arrives Saturday. Here’s what to expect from the investing legend
▼ + stars: | 2023-02-24 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Andrew Harnik | APWarren Buffett's loyal following of value investors is about to hear from the legend himself, at a crucial time when interest rates have soared and recession fears are raging. He believed that when interest rates are high, it could be a major "gravitational pull" on values. "We have a roughly 15-year period of abnormally and historically low interest rates. "Interest rates are the main determinant of equity prices, to quote Buffett, so I think I'm looking for and expecting a discussion on interest rates." "Private equity and others who are thinking of making acquisitions would have to go into the market to borrow [at] higher interest rates.

European demand is deepening a shortage of agave, the prickly plant native to Mexico's Jalisco region that's used to make tequila. Tequila prices have leapt. Compounding matters, the flow to Europe of high-quality 100% agave tequila - which has to be bottled in Mexico - has also been constrained by the supply-chain chaos from COVID-19. Michael Merolli, head of Pernod Ricard's tequila business, which includes Olmeca, said there were far fewer tequila brands in Europe than the United States, where the market was more mature and competitive, with new brands emerging every week. U.S. A-listers like Dwayne "The Rock" Johnson, Kendall Jenner and Kevin Hart have all launched tequila brands in recent years.

☆ Inside California's tiny-home takeover
▼ + stars: | 2023-02-24 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +8 min

For the state with the most dire housing shortage, the move could be a game changer — eventually. As the US grapples with a massive housing shortage, one possible solution is playing out in California right now — and the state may have struck gold. Oregon, Maine, and Nebraska, as well as cities like Miami, have enacted laws similar to California's. There's been opposition to ADUs from homeowners worried about the density of their neighborhoods and sometimes the aesthetics of the structures. Ultimately, the housing shortage could be alleviated, she said.

☆ Nvidia results show its growing lead in AI chip race
▼ + stars: | 2023-02-23 | by ( Chavi Mehta | ) www.reuters.com time to read: +4 min

[1/2] Jensen Huang, CEO of Nvidia, shows the Drive Pegasus robotaxi AI computer at his keynote address at CES in Las Vegas, Nevada, U.S. January 7, 2018. AI has emerged as a bright spot for investments in the tech industry, whose slowing growth has led to widespread layoffs and a cutback on experimental bets. SPECIALIZED CHIPSGraphics processing units are designed to handle the specific kind of math involved in AI computing very efficiently, while generic central processing units (CPUs) from Intel can handle a broader range of computing tasks with less efficiency. Advanced Micro Devices (AMD.O), whose shares also rose after Nvidia earnings on Wednesday, is the second-biggest player in the GPU industry, with a market share of roughly 20%. Nvidia's strength in the AI industry has also attracted the attention of venture capitalists and startups, which are investing billions of dollars and promising improvements such as lower electricity consumption.

☆ Tesla rival Lucid's stock slides 10% after it says it'll make fewer electric cars than expected this year
▼ + stars: | 2023-02-23 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Lucid Group shares fell as much as 10% in Thursday's premarket after a disappointing earnings update. The EV maker missed on revenue and said it will make fewer cars this year than Wall Street expected. Demand for its luxury electric cars has taken a hit as rival Tesla's grows thanks to aggressive price cuts. The EV maker reported a loss of 28 cents per share, narrower than the loss of 40 cents a share forecast. Read more: Tesla's stock is getting trounced by EV challenger Lucid, which is leading techs' 2023 rally thanks to Saudi takeover rumors

☆ Is Asia's bull market over? Strategists say there's room for stocks to rally further
▼ + stars: | 2023-02-22 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

The region's rally – supported by China's reopening – seems to have hit a wall, but economists say MSCI's broadest index of Asia-Pacific shares outside Japan has further room to run. I still expect the Asian stock markets will outperform their U.S. peers after a short-term correction on China's reopening in 2023. "Modest valuations, light investor positioning and good fundamentals are buffers that should help Asian stocks withstand near-term volatility," BNP's Liu said. She added that domestic demand in the region will be the "driver of economic growth," and she expects trade volumes to recover with China's market reopening. "I still expect the Asian stock markets will outperform their U.S. peers after a short-term correction on China's reopening in 2023," she said.

☆ Marijuana legalization has stalled in Mexico, but farmers and cartels are still making big plans to profit off a new market
▼ + stars: | 2023-02-22 | by ( Luis Chaparro | ) www.businessinsider.com time to read: +8 min

An effort to legalize marijuana in Mexico has stalled after several years of debate by lawmakers. But Mexican cartels and independent growers are still preparing to cater to a new domestic market. The Sinaloa Cartel in particular is drawing business lessons from marijuana dispensaries in the US. At the current price for weed, Margarita gets roughly $25 a kilo. A marijuana legalization activist smokes marijuana in front of the San Lazaro Legislative Palace in Mexico City in October 2022.

☆ US companies have stopped talking about an imminent recession
▼ + stars: | 2023-02-22 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +3 min

Executives at major US companies have slowed down warnings of a coming recession. That's according to a Goldman Sachs analysis of US company earnings calls. Goldman Sachs, for instance, recently cut its odds for a recession over the next year from 35% to 25%. The Goldman Sachs note, for instance, listed 10 corporations that predicted a recession this year on their most recent earnings calls, including Bank of America, Citigroup, McDonald's, JP Morgan, UPS, and Tesla. While it hasn't made much of a dent in unemployment data yet, many companies have done layoffs in recent months.

☆ Walmart expects a slowdown this year
▼ + stars: | 2023-02-21 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Walmart had a strong holiday shopping season, but the year ahead will be more challenging for America’s largest retailer. Walmart (WMT) forecast slower sales and profit growth, disappointing investors and sending its stock down during morning trading Tuesday. Government inflation data shows that grocery prices have increased 11.3% over the last year, and more shoppers are turning to discount chains like Walmart to save money. Sales were slower for traditional holiday products like toys, electronics and clothing, a sign that some consumers were cautious on discretionary spending. Holiday sales were sluggish for many retailers, and the industry is expected to have a weaker 2023.

☆ Amplats shares fall after power outages dim outlook
▼ + stars: | 2023-02-20 | by ( Nelson Banya | ) www.reuters.com time to read: +3 min

Amplats' shares were down 3.1% by 1130 GMT, having hit their lowest since early October 2020 earlier in the session. Amplats Chief Executive Officer Natascha Viljoen on Monday said South Africa's electricity crisis and the impact of Russia's invasion of Ukraine would lead to a decline in global PGM supply. Rising interest rates and a strong dollar typically result in lower prices for PGM, especially platinum, Amplats said. South Africa, the world's top PGM producer, is experiencing extended electricity cuts as coal-fired generating plants suffer frequent breakdowns, meaning Amplats's refined PGM output could fall by 5% in 2023, Viljoen said. Amplats declared a total dividend of 115 rand per share, down from 300 rand per share last year, returning $1.66 billion to shareholders.

"High spot LNG prices and dwindling domestic production will mean that Pakistan will continue facing issues with ramping up gas-fired power generation," said Poorna Rajendran, LNG consultant at FGE. Despite LNG prices having fallen from last year's record highs, the superchilled fuel is still expensive for South Asian buyers as their currencies have weakened sharply, making it hard for them to boost LNG imports this year. Ship tracking data from Kpler shows Pakistan's LNG imports in 2022 fell 17% from the previous year to a five-year low. Bangladesh's LNG imports in 2022 fell 14% from the previous year, according to Kpler, which drove down power output while demand was rising. LNG prices are unlikely to ease enough to help Bangladesh and Pakistan, with analysts expecting a rebound in Chinese purchases to push prices up in 2023.

Premiums can increase by almost 50% after an at-fault accident claim, according to an analysis by The Zebra, an insurance comparison website. If you run into a deer or other animal, your comprehensive car insurance would kick in. When you might not need to file a claimWhile filing a claim for damage caused to others is always encouraged, there are instances where you might consider not filing a claim. When your claim is less than the deductibleIf the repair cost is lower than your insurance policy's deductible, it's probably not worth filing a claim. "Even if you're not at fault, filing a claim could still increase your premium," says Cox.

☆ Recycling wind turbine blades is nearly impossible. Veolia North America thinks it can keep them out of landfills.
▼ + stars: | 2023-02-17 | by ( Elizabeth Mccauley | Katie Nixdorf | ) www.businessinsider.com time to read: 1 min

But most of the cement industry's emissions come from heating limestone in kilns, so this process probably won't make much of a dent. A furnace used in industrial cement production. Artur Osypian/Getty ImagesCement factories burn the turbine blades for fuel — replacing some of the coal the factories usually use. Veolia says its product burns cleaner.

☆ Chinese smartphone giant Oppo launches foldable flip phone as it bets on high-end market
▼ + stars: | 2023-02-16 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

The Oppo Find N2 Flip is a foldable smartphone that has a screen on the outside too. Oppo is looking to boost its position in the premium smartphone market with the £849 ($1024) device. Oppo launched a foldable flip phone for international markets, as the Chinese smartphone maker looks to boost its business outside of China. The Find N2 Flip marks Oppo's push to make a dent in the premium segment of the smartphone market and in the nascent foldable phone category. The Find N2 Flip, which was launched on Wednesday, folds in the middle like a traditional flip phone and boasts two screens.

☆ Elon Musk donated $1.9 billion of Tesla stock to charity last year
▼ + stars: | 2023-02-15 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Tesla CEO Elon Musk gave 11.5 million shares of his stake in the electric automaker to an undisclosed charity last year, shares worth about $1.9 billion at the time they were donated. Musk’s net worth at the end of 2022 stood at $137 billion, according to Forbes’ real time billionaire tracker, so the $1.9 billion represented about 1.4% of his net worth at that time. Then in 2022 he sold $22.9 billion worth of Tesla shares as he raised cash for his purchase of Twitter. Given Tuesday’s closing price, the 11.5 million shares that Musk donated last year are worth $2.4 billion. The typical US household has a net worth of about $121,700, according to the most recent estimate from the Federal Reserve.

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