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☆ Unilever and Dell have shut down some sustainability marketing initiatives as big corporations embrace 'green hushing'
▼ + stars: | 2024-02-27 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +7 min

Late last month, computing giant Dell cut part of its marketing team that focused on sustainability and other ESG-related marketing roles, Business Insider has learned. This story is available exclusively to Business Insider subscribers. AdvertisementThis is feeding into a growing trend of "green hushing," where companies stop publicizing their sustainability efforts due to concerns around regulatory scrutiny or a consumer backlash, experts say. Other sustainability agencies have been absorbed into wider offerings, R3 EVP of delivery Sarah Tan told Business Insider. Leo Rayman, head of the sustainability consultancy and venture studio Eden Lab, said that the green hushing phenomenon could suggest a sign of maturity in the space.

Persons: we're, Hein Schumacher, hushing, Pimco, , Harriet Kingaby, Sarah Tan, Kingaby, Bud, Bud Light, influencer Dylan Mulvaney, Guy Parker, — that'll, Parker, Leo Rayman, Rayman, Townsend Organizations: Dell, Business, Unilever, JPMorgan, State, ACT Climate Labs, Media, Advertising Network, Brands, Green Guides, Standards Authority, ASA, BMW, Shell, Etihad Airways, Competition, Markets Authority, Eden, Sustainability

☆ Educators teaching AI literacy to students should include ethics in their lesson plans, scholars say
▼ + stars: | 2024-02-27 | by ( Ngozi Nwanji | ) www.businessinsider.com time to read: +8 min

While some optimists focus on AI's benefits in education, others fear that using AI in classrooms could catalyze cheating and misinformation. This is where AI literacy can be useful. Created within the Stanford Graduate School of Education, CRAFT is a collaborative effort of Stanford education researchers, software developers, and curriculum developers. Lee also told BI that AI literacy in classrooms "should involve recognition of where AI can be effective and where it requires extra vigilance." He said the school also hopes to grow CRAFT's teacher codesign fellowship through which fellows develop AI literacy lessons.

Persons: —, OpenAI, Victor Lee, Lee, Matthew Ratz, Ratz, ChatGPT, Erin Reddick, who's, Reddick, Houghton Mifflin Harcourt Organizations: Stanford, Service, Allied Market Research, Arizona State University, ASU, Stanford Graduate School of Education, Montgomery College, TED, Ratz, Houghton Locations: North America, Jasper, Houghton Mifflin

☆ For Black workers, progress in the workplace but still a high hill to climb
▼ + stars: | 2024-02-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +10 min

"We were in a situation where folks accepted that Black unemployment was going to always be high and there was nothing that they could do about it. The Black unemployment rate in January was 5.3%, up a touch from December but still near the all-time low of 4.8% hit in April 2023. For Black workers, weekly before-tax earnings as of the end of 2023 have risen 24.8% since the first quarter of 2020. "High unemployment for Black workers is a solvable problem," Fulton said. Black workers are interested in tech and believe there are opportunities.

Persons: Ali, Jamila Wright, there's, Jessica Fulton, Fulton, Cox, she's, MilSpouse, they've, Sue Harnett, Goldman Sachs, Harnett, I'm, Ali Wright Organizations: Brooklyn Tea, Joint Center, Political, Economic Studies, D.C, U.S . Bureau of Labor Statistics, McKinsey & Company, Companies, Bank of America, Black Colleges, Universities, New, Small Business Administration, Ivy League, Conference Board Locations: America, U.S, Washington, Brooklyn, New York City, Atlanta

☆ Job Market Reality: You Still Need a College Degree to Land a Good Gig
▼ + stars: | 2024-02-27 | by ( Emily Stewart | ) www.businessinsider.com time to read: +6 min

Employers are increasingly saying you don't need a college degree to get hired, but secretly, you still kind of do. During the same period, the share of job postings asking for a college degree or higher fell to 17.8% from 20.4%. In 2023, The New York Times' editorial board applauded various efforts in the public and private sectors to ax degree requirements for jobs. Having inflated degree requirements perpetuates the cycle of inequities in the workforce." A move toward skills-based hiring is a good thing socially, economically, and practically.

Persons: George Floyd's, didn't, It's, Matt Sigelman, Cory Stahle, would've, you've Organizations: aren't, The New York Times, Carlton, Harvard Business School, Glass, Apple, Walmart, ExxonMobil, Glass Institute, Employers

☆ Beyond Meat’s stock surges after CEO promises to steeply cut costs in 2024
▼ + stars: | 2024-02-27 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

The troubled plant-based meat company, which has partnerships with McDonald’s and KFC owner Yum! “Our 2024 plan includes taking steps to steeply reduce operating expense and cash use,” Beyond Meat CEO Ethan Brown said in a statement. On a Tuesday call with Beyond Meat’s investors, Brown outlined a set of initiatives intended to rightsize the struggling company. Brown said the company would cut at least $70 million from Beyond Meat’s operating budget in 2024. The company also reported its full-year 2023 financial results Tuesday, reporting a net loss of $338.1 million for the year.

Persons: Ethan Brown, Brown Organizations: CNN, McDonald’s, KFC, Brands

☆ Stocks making the biggest moves premarket: Domino's Pizza, Berkshire Hathaway, Moderna, Fluence Energy and more
▼ + stars: | 2024-02-26 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

HashiCorp — Shares of the software company popped 8% on the back of an upgrade by Morgan Stanley to overweight from equal weight. Berkshire Hathaway — Class B shares of Warren Buffett's conglomerate climbed nearly 3% on the back of a nearly 30% year-over-year surge in operating earnings for the fourth quarter. Monday.com — Shares ticked up 2% after Bank of America initiated the coverage of the cloud platform company with a buy rating. Fluence Energy — Shares added more than 5% after an upgrade to positive from Susquehanna Financial. Amer Sports — Shares popped 6% following a slew of positive initiations for the athletic company, which manufacturers the Wilson tennis racket.

Persons: HashiCorp, Morgan Stanley, Monday.com, Michael J, Funk, Biju Perincheril, Wilson, Amer Sports, Goldman Sachs, —, Jesse Pound, Michelle Fox, Lisa Kailai Han Organizations: Berkshire Hathaway —, Warren, JPMorgan, Bank of America, Fluence Energy, Susquehanna Financial, HSBC, Amer, Citi

☆ Wall Street gets its biggest investment-banking shakeup in years. Here are the key players making moves.
▼ + stars: | 2024-02-26 | by ( Reed Alexander | ) www.businessinsider.com time to read: +6 min

Read previewWall Street experienced a big shakeup on Monday when two big banks announced new leaders for their investment-banking units. Citi's hire comes just weeks after JPMorgan promoted Raghavan to the sole head of its deals business, forcing America's biggest bank by assets to regroup. Under Raghavan, JPMorgan rose to No. For the last decade, the 59-year-old has been CEO of the bank's commercial bank, dedicated to corporate lending, including to Silicon Valley startups and real-estate investors. In an internal memo announcing his new role, bank executives said he's "significantly" grown revenue in the region since he took over the region in 2019.

Persons: —, Viswas Raghavan, Raghavan, Jamie Dimon, Filippo Gori, Doug Petno, Filippo Gori —, Jane Fraser, Fraser, Merrill Lynch, Andy Sieg, Patrick T, Fallon, Raghavan Raghavan, Doug Petno Petno, Jennifer Piepszak, Troy Rohrbaugh, Piepszak, Marianne Lake, Rohrbaugh, he's, He'll, Sjoerd Leenart, Mary Erdoes, Reed Alexander Organizations: Service, Citigroup, America's, Business, JPMorgan, Citi, Financial Times, Banking & International, Citi Foundation, EMEA, Financial News, JPMorgan's, Corporate Banking Locations: Hong Kong, London, Europe, Africa, Fraser, EMEA, Silicon, Filippo Gori Gori, JPMorgan's Asia, Pacific

☆ Stocks making the biggest moves midday: Berkshire Hathaway, R1 RCM, Freshpet, Amer Sports and more
▼ + stars: | 2024-02-26 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Earlier in the session, the conglomerate's stock reached all-time highs, following strong operating earnings in its fourth quarter. Pilgrim's Pride — Shares climbed 6.2% after the meat processing company beat Wall Street's expectations for the fourth quarter. Amer Sports — The athletic retailer climbed 3% on the back of a slew of bullish calls from Wall Street analysts. Fresh Del Monte Produce — Shares fell 2% after the agriculture company reported quarterly results that fell short of expectations. Revenue of $1.01 billion was lower than the consensus estimate of $1.03 billion.

Persons: Berkshire Hathaway —, Morgan Stanley, Pilgrim's, FactSet, Wilson, Arc'teryx, — CNBC's Brian Evans, Michelle Fox, Lisa Kailai Han, Alex Harring, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: Berkshire, U.S . Securities, Exchange Commission, Amer, Wall Street, Micron Technology, —, HSBC, Alcoa —, Alcoa, Fluence Energy, Susquehanna Financial, Produce, FactSet, PPG, PPG Industries Locations: FactSet ., U.S, Canada

☆ Prince William shows his style of royal leadership with rare interventions
▼ + stars: | 2024-02-26 | by ( Max Foster | Lauren Said-Moorhouse | ) edition.cnn.com time to read: +5 min

CNN —Prince William certainly wants everyone to know he’s back on the frontline of royal duties, after taking some time away to support his wife, Catherine, following her January operation for an unspecified abdominal condition. William has followed the region closely since his landmark trip to Israel and the West Bank in 2018, the first by any member of the British royal family, a royal source told CNN. Prince William speaks to Pascal Hundt of the ICRC on February 20, 2024. Prince William during a visit to Bournemouth AFC's Vitality Stadium in Dorset, England on September 7, 2023. The British royal family has long taken a stance of political neutrality and does not generally comment on sensitive issues.

Persons: Prince William, Catherine, He’s, ” William, ”, Cross, William, Pascal Hundt, Kin Cheung, Ben Murphy, Prince, Wales, “, ” Murphy, William’s “, Andrew Matthews, he’s, doesn’t Organizations: CNN, International Committee, West Bank, ICRC, UK’s, Media, Royal Foundation, Bournemouth, Royal, Foreign Office Locations: Israel, Gaza, London, England, Cornwall, Nansledan, Newquay, Dorset, Ukraine

☆ Giving Big, a California Couple Gets Gratitude and Scrutiny
▼ + stars: | 2024-02-26 | by ( Robin Pogrebin | ) www.nytimes.com time to read: +1 min

Standing on the grand staircase of Lynda and Stewart Resnick's opulent Beverly Hills mansion at a party last fall — where Diane Keaton, Bob Iger and Brian Grazer were among the luminaries making small talk over crudités and Sazerac cocktails — the author Walter Isaacson took a moment to thank his hosts. Not only were the Resnicks giving the party to celebrate his new biography of Elon Musk, they had also been major supporters of his former professional home, the Aspen Institute, donating $36 million to the think tank over the years. Isaacson was not the only one in the room with reason to be grateful to them. Overall, the Resnicks — whose Wonderful Company business empire includes Pom Wonderful pomegranate juice, Wonderful Pistachios, Fiji Water, Halos mandarins and Teleflora, the flower-delivery service — have donated $1.9 billion of their estimated $13 billion fortune to academic institutions, climate change initiatives, cultural organizations and programs in California’s Central Valley. Their gifts have landed them on the Chronicle of Philanthropy’s annual list of the 50 biggest donors three times.

Persons: Stewart, Diane Keaton, Bob Iger, Brian Grazer, Walter Isaacson, Elon Musk, Isaacson, Picasso, Fragonard, Boucher, Michael Govan, Ann Philbin, Michael Milken Organizations: Aspen Institute, Angeles County Museum of Art, Milken Institute, Wonderful Company Locations: Beverly, Fiji, Central Valley

☆ Here are Monday's biggest analyst calls: Nvidia, Alphabet, Salesforce, Arm, CVS, BJ's, Super Micro & more
▼ + stars: | 2024-02-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Morgan Stanley reiterates Target at overweight Morgan Stanley stood by its overweight rating on the department store owner. Morgan Stanley reiterates Salesforce as overweight Morgan Stanley said it likes the setup heading into earnings later this week. Morgan Stanley upgrades HashiCorp to overweight from equal weight Morgan Stanley said the software company has a compelling valuation. Morgan Stanley upgrades AvalonBay to overweight from equal weight Morgan Stanley said apartment REIT stocks like AvalonBay are '"cheap for a reason." Morgan Stanley upgrades Sun Country to overweight from equal weight Morgan Stanley said it likes the airline's business model.

Persons: Goldman Sachs, Goldman, Morgan Stanley, Salesforce, Rosenblatt, Jefferies, Amer, Wells, Jane Fraser, Roth MKM, Roth, TD Cowen, TD, DA Davidson, OW, Fannie Mae, KBW, Freddie, Truist, it's, Piper Sandler, Piper, Bentley Organizations: Nvidia, BMO, Apollo, Amer Sports, Citi, Citigroup, Bank of America, KKR, APO, BJ's Wholesale, D.A, Susquehanna, Energy, HSBC downgrades Moderna, HSBC, Moderna, Google, YouTube, " Bank of America, Omega Healthcare, Sun, DuPont's Mobility, JPMorgan, Navy, Bentley Systems Locations: USD75, Asana, ASAN

☆ Palo Alto rises while Alphabet sinks — plus the latest on Wells Fargo, Broadcom and Apple
▼ + stars: | 2024-02-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Wells Fargo speaks: Shares of Wells Fargo made a new 52-week high earlier before giving back its gains as part of the broader market dip. 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, Stocks, OpenAI's, Ben Reitzes, Wells Fargo, Wells, Michael Santomassimo, Santomassimo, Cramer, that's, we'll, Decker, Jim, Jim Cramer's, Sundar Pichai, David Paul Morris Organizations: CNBC, Palo Alto Networks, UnitedHealth, Healthcare, Melius Research, Microsoft, Nvidia, UBS Financial Services Conference, Broadcom, VMware, KKR, Home, Stanley Black, Jim Cramer's Charitable, Allen, Co . Media, Technology Conference, Bloomberg, Getty Locations: Palo, Melius, Wells Fargo, Sun Valley , Idaho

Analyst Mike Mayo assigned an overweight rating and $70 price target, which suggests more than 25% upside for shares. Analyst Bill Katz raised his price target by $14 to $128 on the outperform-rated company, which has seen roughly 74% share price growth over the past year. He upped his price target by $25 to $350, implying roughly 19.5% upside for the company, which will report fiscal fourth-quarter results on Wednesday. "While LT debates around monetization and competition have yet to be resolved, we think risk-reward now skews attractive given an improving cloud demand backdrop." It also raised its price target to $86 from $75, but the new forecast still implies downside of more than 13% going forward.

Persons: Morgan Stanley, HashiCorp, Wells, Mike Mayo, Mayo, — Pia Singh, TD Cowen, Cowen, Bill Katz, Katz, Jefferies, Brent Thill, Thill, Salesforce, bode, Sanjit Singh, Singh, Yifeng Liu, Fred Imbert Organizations: CNBC, HSBC, Moderna, Citigroup, Citi, Discover Financial Services, KKR, Salesforce, HSBC downgrades Moderna, Merck & Co Locations: Wells, monetization

☆ Student-loan borrowers are officially one step closer to benefiting from Biden's second attempt at debt cancellation after a key stage of the process wrapped up
▼ + stars: | 2024-02-24 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

President Joe Biden's Education Department is officially one step closer to finalizing its second attempt at student-loan forgiveness for federal borrowers. This second attempt at student-debt relief is separated from the other targeted relief initiatives the Education Department has been in the process of carrying out. During a February 21 speech touting the latest relief, Biden said he would continue to pursue loan forgiveness for federal borrowers despite legal challenges. "Look, early in my term, I announced a major plan to provide millions of working families with debt relief for their college student debt. "I announced we were going to pursue alternative paths for student debt relief for as many borrowers as possible.

Persons: —, Joe Biden's, It's, Biden's, Tamy Abernathy, Abernathy, Biden Organizations: Service, Joe Biden's Education Department, Higher, Education Department, Democratic, Federal Register, Republican

☆ This simple job interview trick can help you get hired 'on the spot,' says 19-year recruiting pro—but most people skip it
▼ + stars: | 2024-02-23 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

In a job interview, your body language can make or break your chances of landing an offer. This means that, in a job interview, how you speak is just as important as what you say, says Bert Bean, CEO of the staffing firm Insight Global. Bean has interviewed hundreds of job applicants in his 19-year career as a recruiter-turned-CEO. Showing that you are energized and enthusiastic about a role is the top "green flag" hiring managers look for in a job interview, Shekhinah Bass, an executive at Goldman Sachs, told CNBC Make It in August. It's important to note, however, that body language isn't the only way to show your enthusiasm or engagement during a job interview.

Persons: Bert Bean, Bean, He's, it's, Shekhinah, Goldman Sachs, Bass Organizations: Research, Insight, CNBC

☆ Exclusive: Russia-linked smear campaign against Hunter Biden began earlier than previously thought
▼ + stars: | 2024-02-23 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +8 min

The man pushing the thumb drive was a citizen of an Eastern European country and a guest of Claremont. That evening, Rollie passed a thumb drive containing disinformation about Hunter Biden and Burisma to a Pompeo aide. Smirnov was indicted last week for lying to the FBI about Hunter Biden. The revelation about Rollie's thumb drive comes shortly after the indictment of Smirnov, for allegedly making false statements about Hunter Biden in June 2020. Like Smirnov, Rollie's materials accuse Hunter Biden of involving his father in Burisma's business and committing a vast off-the-books fraud.

Persons: Mike Pompeo, Hunter Biden, Rollie, Pompeo, Burisma, BI Rollie, I'm, Rollie's, Biden's, Josef, Johnathan Buma, Donald Trump, Joe Biden's, Peter Schweizer, Rudy Giuliani, John Solomon, Hunter, Giuliani, Alexander Smirnov, Smirnov, Biden, David Weiss, Smirnov's, Joe Biden, GOP Sen, Charles Grassley, MAGA, Jack Posobiec, Buma, Anastasiia Carrier Organizations: Claremont Institute's, Claremont, Business, BI, KGB, Department, Claremont Institute, FBI, New York Times, Prosecutors, GOP, State Department, Justice Department, Anastasiia Locations: Russia, Ukrainian, Beverly Hills, Eastern, Soviet, Los Angeles, Russian, Delaware, Ukraine, The Hill, East, West, Eastern Europe

☆ These stocks are well positioned for when the Federal Reserve starts cutting rates, Barclays says
▼ + stars: | 2024-02-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

This would likely push the Federal funds target range to between 4.5% to 4.75% by the end of this year, he said. Take a look at the stocks Barclays thinks are best-positioned for lower rates later this year. Darden Restaurants is one of the consumer names Barclays believes can outperform when the Fed loosens rates. Clothing retailer Gap is another stock Barclays believes will be a rate-cut cycle winner. GPS YTD mountain The Gap shares in 2024 Agribusiness company Bunge also made the cut.

Persons: Terrence Malone, Malone, Jeff Bernstein, Bernstein, Jason Goldberg, Goldberg, Adrienne Yih, Bunge, Ben Theurer, —, Michael Bloom Organizations: Barclays, Darden, Olive Garden, LongHorn, Fifth, Bancorp, Old Navy, Banana, Analysts, Bunge Locations: Olive, Banana Republic

☆ Nvidia just showed the world it's the AI daddy
▼ + stars: | 2024-02-22 | by ( Hasan Chowdhury | George Glover | ) www.businessinsider.com time to read: +5 min

AdvertisementIt sure seems like Nvidia is everyone's AI daddy right now. But in case anyone needed another reminder of who the AI daddy is, Nvidia delivered it on Wednesday. Nvidia stock surged as much as 14% in premarket trading Thursday. There are a few reasons why Nvidia has become indispensable to tech firms trying to take advantage of the AI gold rush. Expect Nvidia to remain the AI daddy for the foreseeable future.

Persons: Jensen Huang, Mark Zuckerberg, Huang, Goldman Sachs, Lisa Su, Matt Bryson, Bryson, OpenAI's Sam Altman, SoftBank's, Kathleen Brooks, XTB Organizations: Nvidia, Microsoft, Meta, Reuters, Huawei, Technology, AMD Locations: Santa Clara, China

☆ Rolls-Royce shares jump 8% after 2023 profits more than double
▼ + stars: | 2024-02-22 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

LONDON — Rolls-Royce shares jumped more than 8% on Thursday after the British aerospace group more than doubled its annual profits in 2023 and forecast further momentum this year. Rolls-Royce, which manufactures jet engines for commercial aircraft along with power systems for ships and submarines, posted an underlying operating profit of £1.6 billion ($2 billion) in 2023, compared to £652 million in 2022. The group also reported a record free cash flow of £1.3 billion, driven by strong operating profit and continued growth of its long-term service agreement (LTSA) book. Rolls-Royce was the top performer in Britain's FTSE 100 in 2023, soaring over 200% on the back of a profit forecast upgrade and the announcement in November that profits could quadruple by 2027. "Our strong delivery in 2023 gives us confidence in our 2024 guidance and is a significant step towards our mid-term targets," Erginbilgic added.

Persons: Tufan Erginbilgic, Royce, Erginbilgic, Cheviot Organizations: Airbus, Universal Sky, LONDON, Royce, Power Systems, Defence Locations: Barcelona, Spain, British, Britain's

☆ A top TikTok music exec who helped turn the app into a force in the industry is leaving the company
▼ + stars: | 2024-02-22 | by ( Dan Whateley | ) www.businessinsider.com time to read: +2 min

Read previewPaul Hourican, TikTok's global head of music partnerships and programming, is leaving the company, the executive confirmed to Business Insider. Hourican joined TikTok around four-and-half years ago in London as an executive heading up the company's UK music operations. From there, he jumped into a role overseeing its European music operations before expanding into a global leadership position on the music team. AdvertisementTikTok launched a massive push into the music business during Hourican's tenure at the company, rolling out a creator-hosted radio station on SiriusXM , a music-streaming app in five countries, and an artist-services arm called SoundOn. Recently, the company has been flexing its influence in music as it battles with Universal Music Group over song licensing.

Persons: —, Paul Hourican, Hourican, TikTok Organizations: Service, Business, Universal Music Group, LinkedIn Locations: London, SiriusXM, TikTok

☆ The US Navy wants rechargeable magazines for lasers to take out drones
▼ + stars: | 2024-02-21 | by ( Michael Peck | ) www.businessinsider.com time to read: +5 min

Laser weapons avoid these problems, or at least in theory. The Navy is aiming for a magazine that can power a small weapon of 20 kilowatts and operate on a 1-micron wavelength. However, it would be perfect for the real prize that the Navy seeks: a laser weapon compact enough to disable small drones. US NavyRechargeable magazines could enable laser weapons to fire more shots before needing to cool down. “Sometimes we have a tendency to over promise and under deliver,” the Navy admiral who oversees laser weapons research admitted at a recent conference.

Persons: —, ” Iain Boyd, Boyd, “ Organizations: Service, Business, Navy Small Business Innovation Research, Navy, Stryker, Amphibious, US, Center for National Security, University of Colorado Locations: HEL, Portland, Persian Gulf

☆ Here are Wednesday's biggest analyst calls: Amazon, Target, Dell, Microsoft, HP, SolarEdge, Norfolk Southern & more
▼ + stars: | 2024-02-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

"Downgrade to Reduce (from Hold) while retaining target price of USD323 on valuation and lack of near-term catalysts." JPMorgan reiterates Amazon as a top idea JPMorgan said it sees further share gains for shares of Amazon. Redburn Atlantic Equities reiterates Microsoft as buy Redburn said it sees Microsoft's Azure gaining market share in cloud. Wells Fargo reiterates Target as overweight Wells raised its price target on the stock to $165 per share from $155. "We are initiating coverage of ChargePoint Holdings, Inc. with a Buy rating and a $4.25 Price Target.

Persons: Piper Sandler, Piper, Redburn, Cantor Fitzgerald, Cantor, Wells, Morgan Stanley, Dell, it's, DELL, Jefferies, Stifel, Goldman Sachs, Goldman, SEDG Organizations: Street, HSBC downgrades, HSBC, Home, JPMorgan, Palo Alto Networks, billings, Barclays, Norfolk, Walgreens Boots Alliance, Walgreens, Microsoft, Sabre Corporation, Dell, EV, ChargePoint Holdings, Inc, UBS, HP

☆ 1 in 4 New York City Children Now Lives in Poverty
▼ + stars: | 2024-02-21 | by ( Stefanos Chen | ) www.nytimes.com time to read: +2 min

It differs from the U.S. census’s official poverty measure, which only counts cash resources, but the supplemental measure is also widely used by government. In 2022, under the supplemental measure, a family of New York City renters with two children was considered below the poverty line if it made less than about $44,000. Why It Matters: The City’s Economic Recovery Is UnevenThe rise in poverty underscores wide disparities in New York. A major reason for the disparities is the lopsided jobs recovery, said James Parrott, the director of economic and fiscal policy at the Center for New York City Affairs at the New School. The median household income in New York City is about $75,000.

Persons: Christopher Wimer, “ It’s, Wimer, “ we’re, James Parrott, Parrott, Charles Lutvak, “ Organizations: Poverty, Columbia University, Center, New York City Affairs, New Locations: New York, New York City

☆ How 3 stocks are navigating the economic tug-of-war between the U.S. and China
▼ + stars: | 2024-02-21 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Just consider three core holdings in the portfolio: Apple , Starbucks , and Nvidia . Nvidia generates 21% of its overall revenue from Mainland China, while Apple gets 19%, and Starbucks 9%. Xiamen-based Luckin Coffee, for example, overtook Starbucks in market share in China during 2023, with double the retail locations there. However, Nvidia still dominates the AI chip market in China, and it's difficult to see its rivals catching up anytime soon. The company has twice re-engineered chips for the Chinese market to comply with U.S. rules.

Persons: Joe Biden's, Xi Jinping, Oppo, Jefferies, Tim Cook, Laxman Narasimhan, Tencent, Jim Cramer's, Jim Cramer, Jim Organizations: U.S, Apple, Nvidia, Starbucks, Competition, Huawei, International Data Corporation, IDC, CNBC, Luckin, China, Management, Tech Locations: China, Beijing, Washington, U.S, Mainland China, People's Republic, India, Xiamen

☆ St. Louis Guaranteed Basic Income of $500 a Month Spent on Bills, Debt: City
▼ + stars: | 2024-02-21 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

Read previewThe city of St. Louis is giving out $500 a month to 540 families, and in just three months recipients say it's helped them pay off debts and their bills. In St. Louis, recipients were chosen from over 5,500 applicants. Advertisement"The main categories where we see spending is pretty much where we anticipated," Adam Layne, the St. Louis city treasurer, told Business Insider in an interview. They had to be residents of St. Louis, have a school-age child, and have had a negative financial impact from the pandemic. Layne said the guaranteed basic income program took about a year and a half of planning and coordinating with partners, including researchers at Washington University in St. Louis.

Persons: —, Louis, it's, Adam Layne, Layne, St, Jack Dorsey's, St . Louis, Louisans Organizations: Service, Business, American, Washington University Locations: St, Louis, St .

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