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☆ Friendly Credit Card Fraud: Consumer Chargebacks Hurt Businesses
▼ + stars: | 2024-06-10 | by ( Emily Stewart | ) www.businessinsider.com time to read: +10 min

Annoyed, mostly at myself but also a little bit at the seller, I had a sinister thought: What if I file a dispute with my credit-card company? AdvertisementA credit-card charge-back happens when a consumer sees something they don't like or recognize on their statement and asks the bank to look into it. Much of that is friendly fraud: The report cited a statistic from the data-analytics company Datos Intelligence that 75% of all the fraud digital businesses see is first-party fraud. Your order arrived and you claim it didn't: fraud. I've never disputed a purchase before, and my credit-card company would like to keep me happy.

Persons: —, I'd, Oscar Bello, wasn't, Domenic Cirone, Robert Painter, Kevin, they've, what's, Bello, I've, Emily Stewart Organizations: Equifax, Mastercard, Datos Intelligence, Citi, Chargeback, Mmm, Business Locations: Ethoca, New Orleans

☆ This start-up is making artificial hair from bananas
▼ + stars: | 2024-06-07 | by ( Leah Collins | ) edition.cnn.com time to read: +8 min

Some people complain that synthetic hair can irritate their scalp and a study of synthetic hair in Nigeria found the presence of potentially harmful heavy metals and chemicals. We want to empower women to make informed decisions about what hair they use and what’s best for them.”Tumusiime says that, unlike synthetic hair, her product is biodegradable, durable and can be easily styled, treated and colored. Since it’s made from discarded banana stems, she adds, it’s also a way to help curb that waste. In the US, St.Louis-based Rebundle also sells hair extensions made from banana fibers, while Nourie Hair offers a hair alternative for braiding made from Ginseng root extract and rosemary. But synthetic hair can be bought for as little as $1 for a bundle.

Persons: Juliet Tumusiime, Tumusiime, Cheveux, ” Tumusiime, it’s, Spiro, Clement Di Roma, Simon Maina, Prince William’s, James Oatway, there's, Edwin Maina, Cheveux Brown, Juliet, Cheveux Organique, “, I’m, ” Organizations: CNN, USAID, Research, Getty, Reeddi Technologies, The Royal Academy of Engineering, Kenyan, Economic Locations: Africa, Uganda, Nigeria, Benin, Kenya, AFP, China, Cameroon, Rwanda, France

☆ Chinese electric car company Nio to enter Middle East this year amid global expansion by peers
▼ + stars: | 2024-06-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Chinese electric car company Nio launched its lower-cost brand Onvo on Wednesday, May 15, 2024, in Shanghai, China. CNBC | Evelyn ChengBEIJING — Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an earnings call Thursday, at a time when rivals have been increasing their global footprint. The nearly 10-year-old company will also start shipping its lowest-cost brand, Firefly, in the first half of next year, Li said. The battery and electric car giant said in November it opened a showroom in Dubai Festival City as part of a collaboration with Al-Futtaim Electric Mobility Company. watch nowAs competition in the Chinese electric car market intensifies, Nio launched a lower-priced brand called Onvo in May.

Persons: Nio, Evelyn Cheng, William Li, Li, BYD, Nomura, Nio's Li Organizations: CNBC, United, United Arab Emirates, United Arab, Dubai Festival City, Al, Futtaim Electric Mobility Company, Tesla, BMW Locations: Shanghai, China, Evelyn Cheng BEIJING, Middle East, U.S, United Arab, Europe, United Arab Emirates, Dubai, 2H24

☆ Delivering food on an e-bike or moped is a deadly endeavor in New York City
▼ + stars: | 2024-06-04 | by ( Eliza Relman | Madison Hoff | ) www.businessinsider.com time to read: +9 min

New York City delivery workers who don't use cars have one of the deadliest jobs in the city. There are now more than 65,000 app-based restaurant delivery workers in the city, and about 80% of them use e-bikes and motorbikes. The city report found that 28.7% of e-bike or moped delivery workers experienced injuries that forced them to miss work, lose consciousness, or seek medical care. They're asking for wider protected bike lanes, or even separate lanes for e-bikes and mopeds, and charging facilities for e-bikes. Indeed, "New Yorkers are dependent on app delivery workers to keep them safe and fed during times of crisis," she added.

Persons: —, takeout, Eric Adams, it's, Jose Alvarado, Andrew Lichtenstein, Brad Lander, Uber, DoorDash —, Ligia Guallpa, Guallpa, DoorDash, Guallpa's, Lander Organizations: Service, Business, Department of Consumer and Worker Protection, US Bureau of Labor Statistics, Bureau of Labor Statistics, Bloomberg, Yorkers, New York Times, Department of Transportation, Getty, City, York, Workers Justice Locations: New York City, York, New York, South Bronx, York City, City, Manhattan, Williamsburg , Brooklyn

That apartment complex is Stadium Lofts, a former baseball stadium that was converted into 138 apartments by Core Redevelopment, a Midwest developer group. The Stadium Lofts has 138 units and Stadium Flats, the four-building complex next door, has 144. The Stadium Lofts renovation took the partners just under two years to complete. The Stadium Flats addition was completed about a year after the Stadium Lofts opened and cost around $13 million. Cox, Watson, and his sons had a budget of $14 million for the Stadium Lofts conversion and, in the end, spent roughly $13.8 million.

Persons: Michael Cox, John Watson, Cox, Michael Potter, Watson Organizations: Core, CNBC, Indianapolis Indians, Indiana Landmarks, Bush, Cox, of Fame Locations: Indianapolis , Indiana, Midwest, Indiana, Indianapolis, Marion County , Indiana, Marion ,

☆ Stocks making the biggest moves midday: Gap, MongoDB, Dell Technologies and more
▼ + stars: | 2024-05-31 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Check out the companies making headlines in midday trading: Dell Technologies — The software stock plunged 22% after executives cautioned that its gross margins could face more pressure in 2025. Zscaler — Shares added 5.2% after the cloud security company posted a fiscal third-quarter earnings and revenue beat. Gap — The clothing retailer soared 26% after posting fiscal first-quarter earnings per share of 41 cents, higher than the 14 cents analysts surveyed by LSEG had expected. The company beat earnings and revenue expectations for the April quarter, but still saw slower-than-expected consumption growth. SentinelOne expects its revenue to fall between $808 million to $815 million in 2024, which was lower than the $817 million forecast by LSEG.

Persons: Zscaler, LSEG, Nordstrom —, Nordstrom, chipmaker, Marvell, MongoDB, Sun Choe, Choe, Cooper, Paycom, Randy Peck, Christopher Thomas, Maheep, CNBC's Hakyung Kim, Yun Li, Jesse Pound, Pia Singh Organizations: Dell Technologies, Lionsgate, Citi, Starz, Nordstrom, Marvell Technologies, Vans, Cooper Companies, Mizuho Locations: Seattle

☆ Costco shares dip despite earnings beat. There's no cause for investor concern
▼ + stars: | 2024-05-30 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

On an annual basis, Costco's EPS grew 29%. After closing at a record $815.34 per share Thursday, Costco's stock declined about 1.5% in extended trading. Core merchandise was flat on a reported basis, but a two-basis-point improvement when excluding the impact of gasoline. Costco's reporting segment for so-called "other" items saw a 57-basis-point benefit on a reported basis and a 56-basis-point benefit ex-gas. Costco's inflation update remained encouraging.

Persons: We're, Ron Vachris, Gary Millerchip, Vachris, Millerchip, Costco didn't, that's, Richard Galanti, Jim Cramer's, Jim Cramer, Jim Organizations: Costco Wholesale, Costco, LSEG, Wholesale, Walmart, Club, Amazon, CNBC, Costco Self, Ucg, Getty Locations: U.S, Canada, Queens , New York

Friedrich Chill Premier Smart Window Air Conditioner (CCF08A10A) If you have a medium-sized room, the Friedrich Chill Premier Smart Window Air Conditioner (CCF08A10A) is your best option with its impressive cooling abilities, smart connectivity, and long warranty. Our review of the Friedrich Chill Premier air conditionerAdvertisementSetupThe setup was straightforward and took about 30 minutes. AdvertisementEnergy UseThe Friedrich Chill Premier air conditioner is Energy Star-certified to help protect the climate, save money, and save energy. Read our full Midea U-Shaped air conditioner review and check out our guide to the best air conditioners for more options. If your window doesn't accommodate a window air conditioner, consider picking up one of the recommended models from our best portable air conditioner guide.

Persons: I've, Friedrich, Friedrich Chill, Richard, James Brains, Friedrich Chill Premier, wasn't Organizations: Business, Smart, Friedrich Chill Premier, Premier, Friedrich Chill, Energy Star, Friedrich AC, Google, Amazon Alexa

☆ Kohl's stock plummets 20% after massive earnings miss
▼ + stars: | 2024-05-30 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Shoppers walk in front of a Kohl's store in Mount Kisco, New York. Kohl's shares plummeted more than 20% in premarket trading Thursday after the company posted a surprise loss per share, coming in well below Wall Street's expectations for a slight profit. Net sales decreased 5.3% to $3.18 billion compared with the year prior, with comparable sales down 4.4%. Kohl's expects full-year diluted earnings per share in the range of $1.25 to $1.85 — far lower than the $2.34 per share expected, according to LSEG. Kohl's announced in March that it would add similar in-store outposts of Babies R Us to about 200 locations.

Persons: Kohl's, LSEG, Tom Kingsbury, Kingsbury Organizations: LSEG, Wall Street Locations: Mount Kisco , New York

☆ These S&P 500 stocks are cheap and well-liked by analysts heading into June
▼ + stars: | 2024-05-30 | by ( Pia Singh | ) www.cnbc.com time to read: +8 min

The company has a low forward price-to-earnings ratio of roughly 8.6. Ulta Beauty also made the screen as a cheap stock that analysts are bullish on. The stock has a 14.5 forward price-to-earnings ratio and a consensus buy rating from analysts polled by FactSet. Online pickup orders inside an Ulta Beauty store in the Upper East Side neighborhood in New York, US, on Monday, Nov. 27, 2023. The stock has a 14.5 forward price-to-earnings ratio and a consensus buy rating from analysts polled by FactSet.

Persons: Jefferies, Trevor Williams, We're, FactSet, Stifel, Ulta, General Motors, Bing Guan Organizations: Dow Jones, Nasdaq, CNBC, Financial, Global Payments, Jefferies, JPMorgan, Cadillac, Chevrolet, General, FedEx, Halliburton, Gilead Sciences, CVS Health, Bloomberg, Getty, CVS, Epam, Motors, HAL Halliburton, Resorts, JBL, LKQ, Vegas Sands Corp, MGM MGM Resorts International, LSEG Financial, Inc Locations: Gilead, New York

☆ Best Buy surges on signs that the expected AI-driven PC and smartphone refresh is starting
▼ + stars: | 2024-05-30 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Bottom Line This was a better-than-feared quarter from Best Buy. Services are an area that Best Buy can lean into and leverage to differentiate from online retailers like Amazon . Importantly, she noted that not only will Best Buy have the largest assortment of AI-enabled PCs but over 40% of that assortment will be exclusive to Best Buy. Going back to how Best Buy can compete with the likes of Amazon, Best Buy is working closely with vendors on marketing strategies and demonstrations to offer a "unique educational and interconnected digital shopping journey." Bimal Tandel photographs Bhavin Tandel and Dinesh Tandel, crew members on the Klara Oldendorff, in front of a Best Buy in Timonium, Maryland, U.S., March 29, 2024.

Persons: Corie Barry, we're, Barry, FactSet, Jim Cramer's, Jim Cramer, Jim, Bimal, Bhavin Tandel, Dinesh Tandel, Klara Oldendorff, Julia Nikhinson Organizations: LSEG, Services, Amazon, Computer, Target, Walmart, Costco, Barry, Apple, CNBC Locations: Timonium , Maryland, U.S

☆ When do the 2024 NBA Finals start? Mavs vs. Celtics schedule, channel, start time and odds
▼ + stars: | 2024-05-30 | by ( Alex Andrejev | Law Murray | ) www.nytimes.com time to read: +6 min

The 2024 NBA Finals will feature the league’s best team all season against one of basketball’s most dominant duos. The Mavericks are making their first NBA Finals appearance since winning their only title in 2011. When do the NBA Finals start? In recent years, the league has set an NBA Finals schedule ahead of time for all seven games in consideration of its stakeholders, including broadcast partners and fans. Boston — with star players Jayson Tatum and Jaylen Brown — is back in the NBA Finals for the second time in three years.

Persons: Luka Dončić, Kyrie Irving, Celtics haven’t, They’ve, Tyrese Haliburton, Anthony Edwards, Dallas ’, Jayson Tatum, Jaylen Brown —, Porziņģis, Tatum, Brown, Dončić, Star Irving, There’s, Irving, Joe Mazzulla, Bill Russell, Russell, Jason Kidd, Kidd, Jaylen Brown, Brian Fluharty Organizations: Boston Celtics, Eastern, Dallas Mavericks, Western Conference, Los Angeles Lakers, Mavericks, NBA, Celtics, Indiana Pacers, Minnesota Timberwolves, ABC, Miami Heat, Cleveland Cavaliers, Eastern Conference, Boston, Miami, Cavaliers, Pacers, West . Dallas, LA Clippers, Oklahoma City Thunder, Timberwolves, Wolves, Dallas, Heat, Clippers, Lakers, Luka, Synergy Locations: Boston, Dallas, West

☆ Here are the portfolio's top 5 performing stocks since April's Monthly Meeting
▼ + stars: | 2024-05-30 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

The latter fact is on display in our list of top-five performing portfolio stocks since the April 24 close through Wednesday's close, the eve of our May meeting. The chipmaker jumped 44.1% since April's Monthly Meeting. 4, Eli Lilly stock jumped 10.8% since our April 24 meeting. A slew of promising AI announcements helped fuel the stock's strong performance since the April meeting. More broadly, Broadcom has been one of the portfolio's biggest beneficiaries of the AI trade.

Persons: Dow, Jim Cramer, we're, Jim, Costco, Eli Lilly's, Eli Lilly, Jim Cramer's, Spencer Platt Organizations: Nasdaq, Dow Jones Industrial, Nvidia, Apple, China Academy of Information, Communications Technology, iPhone, Bank of America, Costco, Costco Wholesale, Walmart, Club, Broadcom, CNBC, Traders, New York Stock Exchange, Getty Locations: Wednesday's, China, U.S, Google's, New York City

☆ Dick's Sporting Goods raises guidance, says shoppers are spending more on sneakers and athletic gear
▼ + stars: | 2024-05-29 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

A shopping cart sits in front of a Dick's Sporting Goods store on August 26, 2020 in Daly City, California. Dick's Sporting Goods on Wednesday said customers are spending more on new sneakers and athletic gear, leading the retailer to raise its full-year earnings guidance. That's ahead of the $13.25 that analysts had expected, according to LSEG. The low end of that range is only in line with the 2% growth that analysts had expected, according to StreetAccount. Dick's is expecting full-year revenue to be between $13.1 billion and $13.2 billion, which is also in line with estimates of $13.16 billion, according to LSEG.

Persons: Dick's, Lauren Hobart Organizations: Sporting Goods, Dick's Sporting Goods, LSEG Locations: Daly City , California, Dick's

☆ IMF upgrades China's growth forecast to 5% on 'strong' first quarter and policy measures
▼ + stars: | 2024-05-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — The International Monetary Fund on Wednesday raised its forecast for China's growth this year to 5%, from 4.6% previously, due to "strong" first quarter figures and recent policy measures. The organization now expects China's economy to grow by 4.5% in 2025, up from the previous forecast of 4.1%. But by 2029, they anticipate China's growth will decelerate to 3.3% due to an aging population and slower productivity growth. That's down from the IMF's prior forecast of 3.5% growth in the medium term. China's economy grew by a better-than-expected 5.3% in the first quarter, supported by strong exports.

Organizations: Monetary Fund, Data Locations: Beijing, BEIJING, China

☆ Why Eli Lilly shares should be up on its latest news, plus Nvidia keeps rolling
▼ + stars: | 2024-05-28 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

"There's not enough money to take up Nvidia this much and the rest of the market," Jim Cramer said. 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. Jensen Huang, co-founder and CEO of Nvidia, during the Nvidia GPU Technology Conference in San Jose, California, on March 19, 2024.

Persons: Jim Cramer, Salesforce, CNBC's David Faber, Lilly, Eli Lilly, Cramer, Abercrombie &, Jim Cramer's, Jim, Jensen Huang, David Paul Morris Organizations: CNBC, Nvidia, Nasdaq, Management, Abercrombie, Abercrombie & Fitch, Chewy, Dick's Sporting Goods, Advance, Jim Cramer's Charitable, Technology, Bloomberg, Getty Locations: Informatica, HubSpot, Indiana, San Jose , California

☆ CNBC Daily Open: Musk's AI start-up raises $6 billion
▼ + stars: | 2024-05-28 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nvidia's stock rose 2.6% on Friday, contributing to a 15% surge for the week, while the Nasdaq led major indexes with a 1.41% weekly gain. Nvidia CEO's net worth soarsNvidia CEO Jensen Huang's net worth soared to over $90 billion as better-than-expected earnings sent the company's stock soaring to a record high. Last Thursday, the stock rose more than 9% to close at nearly $1,038 per share. Google AI Overview misfiresGoogle's "AI Overview" feature in search is facing criticism for producing incorrect or controversial responses.

Persons: Jensen, Huang, Glass Lewis, Elon Musk, Obama, Eli Lilly, Eli Lilly's, Weizhen Tan Organizations: CNBC, Nasdaq, Dow Jones, Treasury, Nvidia, Investors, Google Locations: Texas, Indiana

☆ Meet the art collectors with home galleries: 'The stock market doesn't give me any fulfillment'
▼ + stars: | 2024-05-27 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +8 min

Entrepreneur Grant Cardone said collecting and displaying art gives him more fulfilment than investing. Grant CardoneMultimillionaire Grant Cardone, who has been collecting art for around 15 years, says he's a spontaneous buyer. Bunker artChristian and Karen Boros' home is on top the bunker that houses their private art collection, the Boros Collection, in the center of Berlin, Germany. An artwork by Cyprien titled "Gaillard Lesser Koa Moorhen," 2013, part of the Boros Collection. Karen and Christian Boros live in a penthouse apartment above their art collection in Berlin.

Persons: Grant Cardone, Grant Cardone Multimillionaire Grant Cardone, Cardone, Grant Cardone's, Burton Morris, Tommy Hilfiger, Hilfiger, Basquiat, Grant, —, Kenny Scharf, Scharf, Phillips, Jean, Michel Basquiat, gesturing, Al, Holly, Christian Levett, He's, Levett, Elaine de Kooning, Pat Passlof, Helen Frankenthaler, Joan Mitchell, It's, … Mitchell, Elaine, Kooning, John F, Kennedy, Karen Boros, John Macdougall, Christian, Raoul Zoellner, Cyprien, Boros, Noshe Christian, Joseph Beuys —, Zoellner, Karen, Christian Boros, Max von Gumpenberg Organizations: CNBC, Apple, Grant Cardone's Miami, Harvard University and New York University, Mougin Museum, London, AFP, Getty, Berlin, Noshe, Financial Times Locations: Miami, Cardone's, American, Grant Cardone's, Florence, Italy, Mougins, France, Ponte, Berlin, Germany

☆ Stock futures rise to kick off shortened trading week: Live updates
▼ + stars: | 2024-05-27 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock exchange during morning trading on May 17, 2024. Stock futures advanced Monday night as investors await inflation data due at the end of the shortened trading week for a better picture of the market's outlook. S&P futures gained 0.1%, while Nasdaq 100 futures edged up 0.2%. Recently, however, stronger economic data and fresher concerns about a potential consumer spending pullback have dampened the interest rate outlook. Looking ahead to this week, investors are watching for consumer confidence data out Tuesday and the April personal income and expenditures report, which includes the PCE inflation reading, out Friday.

Organizations: New York Stock, Stock, Dow Jones, Nasdaq, Costco Wholesale

☆ Eli Lilly CEO David Ricks on $.5.3 billion weight loss drug investment
▼ + stars: | 2024-05-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEli Lilly CEO David Ricks on $.5.3 billion weight loss drug investmentHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Eli Lilly, David Ricks, Brian Sullivan, “ Organizations: CNBC

☆ Walmart, Capital One end consumer credit card agreement
▼ + stars: | 2024-05-24 | by ( ) www.cnbc.com time to read: +1 min

Walmart has ended its agreement with Capital One , which was the exclusive issuer of Walmart consumer credit cards, the companies said on Friday. Walmart had tied up with Capital One in 2018 after ending its two-decade long partnership with Synchrony Financial . A federal judge had ruled in March 2024 that Walmart can end its credit card partnership with Capital One early because the bank failed to provide the required level of customer service. While Capital One and Walmart have ended their partnership, cardholders can continue to earn and redeem rewards, and previously accrued rewards will retain their value, the companies said on Friday. Separately, Capital One had agreed earlier in the year to buy credit card issuer Discover Financial Services in a $35.3 billion all-stock deal to create a global payments giant.

Persons: cardholders Organizations: Walmart, Capital, Synchrony Financial, Financial Services Locations: Miami, United States

☆ Eli Lilly's big GLP-1 investment — plus, what we want from 4 portfolio stock earnings
▼ + stars: | 2024-05-24 | by ( Matthew J. Belvedere | ) 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. Wall Street was bouncing higher Friday after, as Jim Cramer put it, a "really bad day" in the prior session. 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, Thursday's, Goldman Sachs, Cramer, Eli Lilly, Locker, Mary Dillon, Nike isn't, Jim Cramer's, Jim Organizations: CNBC, Nvidia, Novo Nordisk, Costco, Nike, Jim Cramer's Charitable Locations: America, Indiana

☆ Eli Lilly to invest another $5.3 billion in Indiana plant to expand Mounjaro, Zepbound supply
▼ + stars: | 2024-05-24 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City on Dec. 11, 2023. Eli Lilly on Friday said it is investing another $5.3 billion in a manufacturing plant in Lebanon, Indiana, to boost supply of its highly popular weight loss drug Zepbound, diabetes treatment Mounjaro and other medicines. That makes it Eli Lilly's largest manufacturing investment in its nearly 150-year history, the company's CEO David Ricks said in a statement. Eli Lilly expects the Lebanon site to start making medicines toward the end of 2026, and scale up operations through 2028. The plant will specifically increase Eli Lilly's capacity to manufacture the active ingredient in Zepbound and Mounjaro, called tirzepatide.

Persons: Eli Lilly’s, Eli Lilly, Eli Lilly's, David Ricks, Ricks, Anat Ashkenazi, Ashkenazi Organizations: Nexus Pharmaceuticals, Investors Locations: New York City, Lebanon , Indiana, U.S, Lebanon, Indiana, Europe, North Carolina, Ireland, Germany

☆ JPMorgan says China can't be ignored: 'you have to do business there'
▼ + stars: | 2024-05-23 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

"You can't ignore it, you have to do business there, even if you decide not to do business there, you need to understand what's going on," Leenart said, adding that what happens in China "influences every industry around the world." In terms of purchasing power parity, China currently accounts for 19% of global GDP and 48% of Asia's GDP . China is too big to be sidelined, and investors "have to do business there," JPMorgan Asia Pacific CEO Sjoerd Leenart said Thursday, adding that the country had emerged as the second world power. Given how extensively China is linked with the region, Leenart emphasized that there needs to be "good activity" in China in order to have a buoyant investment banking business. "I think that [China] have a lot to sell to the world, and that product will be needed all over the world," said Leenart, adding that he sees a lot of opportunity in China.

Persons: Leenart, CNBC's, Sjoerd Leenart, We've Organizations: JPMorgan Chase &, CNBC's Sri, Global China Summit, JPMorgan Asia Pacific, Investors, China's National Bureau of Statistics, Reuters, Wilson Locations: New York, United States, China, CNBC's Sri Jegarajah, Shanghai . China, Asia, Japan, South Korea, Taiwan, Vietnam

☆ Stocks making the biggest moves before the bell: NVDA, LYV, SNOW
▼ + stars: | 2024-05-23 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Snowflake posted $829 million in revenue, while analysts polled by LSEG had called for $786 million. Adjusted earnings for the period came in at 14 cents a share, however, missing the consensus estimate by 4 cents. Beauty — The cosmetics maker added 3.4% after easily surpassing consensus forecasts from analysts surveyed by FactSet for the fiscal fourth quarter. posted 53 cents in earnings per share, excluding items, on $321.1 million in revenue, while analysts penciled in just 33 cents on $292.6 million in revenue. On top of that, LiveRamp offered firm revenue guidance for both the current quarter and full year.

Persons: Snowflake, LSEG, NetEase, FactSet, e.l.f, LiveRamp, Cytokinetics, Goldman Sachs, Morgan Stanley, Ed Bred, Lori Koch, Alibaba, GoodRX, —, Jesse Pound, Pia Singh, Yun Li, Tanaya Macheel, Sarah Min, Michelle Fox Organizations: Nvidia, Micro, Taiwan Semiconductor, Bloomberg, Department of Justice, of, News, Corp, JPMorgan, DuPont de Nemours, DuPont, Bloomberg News, Bank of America, RBC, Hasbro —, Hasbro Locations: Southern, of New York, —

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