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Shares of Logitech are up 2% on the year and could rally another 17%, if Scemama's target price holds true. Analyst Kristine Liwag accompanied the move by raising her price target to $225 from $178. The bank reiterated its overweight rating on the credit card stock but lifted its price target to $275 from $265. International revs should run above the 10%+," the analyst added. Goldman analyst Tina Hou set a 12-month price target of $34, while Bank of America analyst Ming Hsun Lee set a price objective of $35.
Persons: Bernstein, Goldman Sachs, Goldman, TZE, Brian Lee, Lee, — Spencer Kimball, Didier Scemama, Scemama, — Lisa Kailai Han, Morgan Stanley, Kristine Liwag, Heico's, Liwag, Stanley Black, Decker, Julian Mitchell, Mitchell, Wells, Wells Fargo, Donald Fandetti, Fandetti, Canaccord, Kingsley Crane, Crane, Oppenheimer, Jed, Kelly foresees, FanDuel —, Kelly, Zeekr, Tina Hou, Ming Hsun Lee, Hou, Stacy Rasgon, Rasgon, Fred Imbert Organizations: CNBC, Broadcom, Bank of America, Investors, Technologies, Department of Energy, Logitech, Boeing, Barclays, Stanley, Nvidia, American, Express, American Express, U.S . American Express, Wall, Zeekr, China EV, China, Geely Automobile, AMD Locations: Monday's, EU, U.S, China, BofA
Satellite-to-phones service provider AST SpaceMobile announced a partnership with Verizon on Wednesday, adding to the company's recent deal with AT&T to provide remote coverage across the United States. AST SpaceMobile is building satellites to provide broadband service to unmodified smartphones, in the nascent "direct-to-device" communications market. The company's chairman and CEO, Abel Avellan, touted AST's agreements with Verizon and AT&T as "essentially eliminating dead zones and empowering remote areas of the country with space-based connectivity." Verizon's deal effectively includes a $100 million raise for AST, as well, in the form of $65 million in commercial service prepayments and $35 million in debt via convertible notes. The companies said that $45 million of the prepayments "are subject to certain conditions" such as needed regulatory approvals and signing of a definitive commercial agreement.
Persons: Abel Avellan, Kalapala Organizations: AST, Verizon, AT Locations: United States
I am Anne Marie and she is Alice Marie, named after one of her mother's eight sisters, Anna Marie. The women in my family have been named after prior generationsThis long line of sisters kicked off what would be names linking generations of women in my family. The oldest daughter of Alice and Jack was named Anne Marie after the two beloved sisters, Phyllis Anne and Alice Marie. Mary Lou had a daughter named Shawn Marie, who would become my mother's cousin and best friend–and like a second mother to me. Her hair, a natural auburn not unlike her sister's, has always been dyed blonde, not unlike Aunt Mary Lou.
Persons: Anne Marie, Alice Marie, Anna Marie, Olga Margret, Elsie Meta, Wanda May, Irene Lucille, Jean Clyde, Helen Dawn, Shirley Jean, Phyllis Anne, Phyllis, Jack, I'd, she'd, Alice, Sally Lou —, Sally Lou's, Mary Louise, Mary Louise our Grandma Louise, Grandma Louise, , Mary Lou, Shawn Marie, , Sally Lou, Anne Marie . Standing, She's, Roderique, John James Roderique, James Otis Roderique, James Hamlin Roderique, selflessly Organizations: Service Locations: auburn
Robinhood management expects to execute the program over a two- to three-year period starting in the third quarter of 2024, a press release said. Cava reported earnings of 12 cents per share on revenue of $259 million, while analysts polled by LSEG anticipated earnings of 4 cents per share on $246 million in revenue. Box — The cloud storage company added 1.2% on the back of better-than-expected earnings and revenue. Box reported adjusted earnings of 39 cents per share, while analysts polled by LSEG expected earnings of 36 cents per share. United reaffirmed its second-quarter earnings outlook range of $3.75 and $4.25 per share, according to a regulatory filing .
Persons: Cava, LSEG, , Darla Mercado Organizations: Revenue, American Airlines, United Airlines — Locations: Cava
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Persons: we've, you'll, you've, fryer, Braun, Fryer, Ninja's, Ninja, Crisp, Pick, It’s, Max, Casper, Pillow, Topper, Allbirds Organizations: Business, Apple, Day, Samsung, Walmart, Samsung TV, Amazon Sony, Amazon Samsung, Amazon, DreamCloud Sealy, Amazon ., Shop, Ninja, Sony, JBL Bluetooth, Amazon Beats, Amazon Apple, JBL, Haven, Elm, Flyers Locations: Brooklyn, France, Chewy
AI startups are reviving the SAFE funding mechanism to secure investments without dilution. SAFE notes enable quick fundraising for nascent AI startups amid the sector's rapid growth and hype. 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 . AdvertisementFinancial wizardry is nothing new in the venture world, but the rise of AI startups has prompted a return to the funding mechanism known as a SAFE.
Persons: Y, Organizations: Service, SAFE, Business
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,
Hong Kong-listed shares of Alibaba fell over 5% Thursday following a report that the Chinese tech giant is considering selling convertible bonds to raise $5 billion. Shares ended the trading day 5.24% lower, after falling more than 6% earlier following the Bloomberg report. In premarket trading in New York, Alibaba's NYSE-listed shares were down 2.21% at 04:51 a.m. CNBC could not independently confirm the report, and Alibaba did not immediately respond to a request for comment. Earlier this week, Chinese e-commerce rival JD.com took a similar step with a $1.75 billion convertible senior note offering due in five years with a 0.25% coupon.
Persons: Alibaba, JD.com, — CNBC's Arjun Kharpal Organizations: Bloomberg, Alibaba's NYSE, CNBC Locations: Suqian City, Jiangsu Province, China, Hong Kong, Alibaba, New York, Alibaba's
Lowe's — The home improvement stock fell 2.9% despite the company posting a first-quarter earnings and revenue beat. By comparison, analysts surveyed by FactSet had penciled in $1.45 in earnings per share on $1.21 billion in revenue. XPeng — U.S-listed shares jumped nearly 5% after the Chinese EV company topped first-quarter estimates for revenue and said it anticipates a rise in quarterly deliveries. AutoZone reported $4.24 billion in revenue for the quarter, below the $4.29 billion expected by analysts, according to FactSet. Sprout Social — Shares dropped 4% after Sprout Social responded to a Reuters report, citing sources familiar, that said its founders are in talks to take the social media strategy company private.
Persons: Lam, Macy's, Tony Spring, Marvin Ellison, BlackLine, FactSet, Keysight, AutoZone, Li Auto, Li, Yun Li, Jesse Pound, Sarah Min, Alex Harring, Lisa Han, Samantha Subin Organizations: AstraZeneca — U.S, Traffic Safety Administration, Dell Technologies, Citi, Baird, Palo Alto Networks, Keysight, EV, Reuters, Li Auto Locations: billings,
Check out the companies making headlines after the bell : Urban Outfitters — The clothing retailer added nearly 8% after beating estimates on its first-quarter results. Viasat — Shares of the communications company slid nearly 13% after Viasat posted a loss of 80 cents per share in the fiscal fourth quarter. The result was worse than the loss of 63 cents per share analysts had predicted, according to LSEG. Toll Brothers posted fiscal second-quarter earnings of $4.55 per share on revenue of $2.65 billion. Modine's fiscal fourth-quarter revenue of $603.5 million came in below the $605.4 million expected by analysts, according to FactSet.
Persons: LSEG, , Darla Mercado Organizations: Urban Outfitters, Viasat —, Viasat, Toll, XP, Modine Manufacturing
Macy's — The department store operator added about 3% after beating earnings estimates for the first quarter and raising its full-year outlook. AutoZone reported revenue of $4.24 billion while analysts polled by FactSet forecast $4.29 billion. XPeng — Shares gained 5% after the Chinese electric vehicle firm beat first-quarter estimates on the top and bottom line. The company reported revenue of 25.6 billion yuan, a 38.6% decrease from the fourth quarter of 2023. Zoom Video — Shares slipped nearly 3% even after the video conferencing company reported better-than-expected earnings and revenue for the first quarter.
Persons: Macy's, Lowe's, XPeng, Baird, David Koning, billings, Li Auto, Paul Lejuez, Wall, LSEG, — CNBC's Michelle Fox, Sarah Min, Jesse Pound Organizations: FactSet, Palo Alto Networks, , Technologies, Lam Research, Citi Locations: Keysight
Peloton shares plunged on Monday after the connected fitness company said it is launching a "global refinancing," as it looks to stave off a cash crunch amid falling sales. Peloton plans to use the proceeds to buy back about $800 million of its 0% convertible senior notes, which are currently due in 2026, and refinance its existing term loan. Shares fell more than 12% in extended trading after Peloton announced the refinancing, but later regained some ground. In a letter to shareholders, the company said it is "mindful" of the timing of its debt maturities, which include convertible notes and a term loan. "Overall, our refinancing goals are to deleverage and extend maturities at a reasonable blended cost of capital," the company said.
Persons: Barry McCarthy, McCarthy, Goldman Sachs Organizations: JPMorgan
The corruption trial of Senator Robert Menendez, a powerful New Jersey Democrat, spun into motion in Manhattan on Wednesday, with combative opening statements and an extraordinary claim by the defense. Speaking directly to the jury, a U.S. prosecutor asserted that Mr. Menendez “put his power up for sale,” trading favors involving Egypt and New Jersey businessmen for gold bars, cash and a Mercedes-Benz convertible. But it was a lawyer for Mr. Menendez who shook the courtroom awake, piling blame on the senator’s wife, Nadine Menendez. Mr. Menendez, 70, betrayed little emotion as he watched the opening statements from the courtroom, where he is facing some of the gravest charges ever leveled against a sitting U.S. senator. Prosecutors have also charged Ms. Menendez, but her trial was delayed until July for health reasons.
Persons: Robert Menendez, Mr, Menendez “, Menendez, Nadine Menendez, Fred Daibes, Wael Hana Organizations: New Jersey Democrat, Benz, Prosecutors Locations: New Jersey, Manhattan, U.S, Egypt
Senator Robert Menendez (D-NJ), arrives at Federal Court, for his bribery trial in connection with an alleged corrupt relationship with three New Jersey businessmen, in New York City, U.S., May 14, 2024. Prosecutors and defense attorneys are poised Wednesday to select a full jury and deliver opening statements in the federal bribery trial of Sen. Robert Menendez of New Jersey. Prosecutors will begin their opening statements shortly afterward "if all goes to plan," the judge said. A third New Jersey businessman charged in the case, Jose Uribe, pleaded guilty in March and agreed to cooperate with the federal prosecutors. Nadine Menendez has not been in court with her husband.
Persons: Robert Menendez, Sen, Sidney Stein, Stein, Menendez, Nadine Menendez, Wael Hanna, Fred Daibes, Jose Uribe Organizations: Federal Court, Prosecutors, Robert Menendez of New, Democratic, Benz, Senate Foreign Relations Committee Locations: Jersey, New York City, U.S, Robert Menendez of, Robert Menendez of New Jersey, Manhattan, Egypt, Qatar, New Jersey
Here’s what prosecutors say the senator and his wife got:Gold barsProsecutors say Hana and Daibes gave Menendez and his wife gold bars, which were seized by the FBI from the Menendez residence. After returning from a trip to Egypt and getting a ride home from the airport from Daibes’ driver, prosecutors say Menendez searched online for the price of a gold bar. Nadine Menendez needed a new car, apparently after hitting and killing a jaywalker in Bogota, New Jersey, in December 2018. There is a long list of actions prosecutors say Menendez undertook in exchange for all of these alleged bribes. The envelopes of cash prosecutors say bore Daibes’ fingerprints may be more difficult to explain.
Persons: CNN — Democratic Sen, Bob Menendez, Mercedes, Menendez, CNN’s Manu Raju, , , Nadine, Wael Hana, Fred Daibes, Jose Uribe, Daibes, Nadine Menendez’s, Nadine Menendez, Uribe, Hana, , , Qataris, retry Menendez, Salomon Melgen, Melgen, Donald Trump Organizations: CNN — Democratic, Bob Menendez of New, Senate Foreign Relations Committee, Capitol, FBI, Court Southern District of, Prosecutors, Court Southern District of New York Prosecutors, Court Southern District of New York, Menendez, Uribe, Mercedes, Benz, Senate Foreign Relations, US Department of Agriculture, New York, of Justice Locations: Bob Menendez of, Bob Menendez of New Jersey, Egypt, Qatar, New Jersey, Daibes, Court Southern District of New York, Bogota , New Jersey, New
All-inclusive hotels are making a big play for luxury travelers. In the wake of the pandemic, demand for all-inclusive resorts skyrocketed, according to a report by JLL Research Hotels & Hospitality. It was then that travelers discovered that the all-inclusive resorts of the past — known for bottom-shelf booze and quantity-over-quality dining — had changed. The numbers are even higher in Mexico, where upper upscale and luxury all-inclusive resorts accounted for more than half (55%) of its all-inclusive resorts in 2022. "In addition to elements that you receive by booking an all-inclusive resort, private and additional amenities help to elevate that experience."
Persons: Travelers —, Karina Arguello, Kelly Connor, they're, Saint Vincent, Cooper Organizations: JLL Research, Hospitality, Travelers, Marriott, Hilton, Westin, Casino, Med, AAA Club Alliance, Royal Locations: Dominican Republic, Mexico, JLL, DoubleTree, Maldives, Mauritius, Italy, France, Tignes, Caribbean, New Jersey, Grenadines, Royal Curacao, They're
Read previewThe owners of the Brentwood home where Marilyn Monroe lived and later died are suing the City of Los Angeles for the right to demolish the property. According to the Los Angeles Times, they purchased the home for $8.35 million. Last September, the Los Angeles City Council intervened to temporarily halt the demolition of the home, which KCAL News reported was welcomed by fans and historians. Marilyn Monroe waves from Arthur Miller's convertible as the newlyweds leave their Connecticut home for a picnic in June 1956. AdvertisementRepresentatives for Milstein, Bank, and the City of Los Angeles did not immediately respond to Business Insider's requests for comment.
Persons: , Marilyn Monroe, Brinah Milstein, Roy, Monroe, Scott Fortner, Arthur Miller, Arthur Miller's, Bettmann, Fortner, Milstein, Betty White, Joan Crawford, Chris Pratt, Katherine Schwarzenegger, Craig Ellwood, Liz Waytkus, Dezeen Organizations: Service, Brentwood, Roy Bank, Los Angeles Superior, Business, Los Angeles Times, Los Angeles City Council, Monroe, Connecticut, City, Bank, Milstein , Bank Locations: Los Angeles, Brentwood, memorializing Monroe
A number of private equity firms have been considering a buyout of Peloton as the connected fitness company looks to refinance its debt and get back to growth after 13 straight quarters of losses, CNBC has learned. A number of other private equity firms have been circling Peloton as an acquisition target, but it's unclear if they have held formal discussions. Last week, Peloton announced a broad restructuring plan that's expected to reduce its annual run-rate expenses by more than $200 million by the end of fiscal 2025. Last week, Peloton announced CEO Barry McCarthy would be stepping down as it issued a disastrous earnings report that missed Wall Street's expectations. One source close to the company said Peloton isn't expected to have any issues refinancing its debt.
Persons: Barry McCarthy, Goldman Sachs Organizations: Interactive, CNBC, JPMorgan Locations: New York
They also argued that having the doctor testify appeared to be an effort by Mr. Menendez to present alleged facts before the jury without subjecting himself to cross-examination by testifying himself. He will be tried with two New Jersey businessmen who also were accused of participating in the bribery conspiracy. The senator’s wife, Nadine Menendez, was charged as well but granted a separate trial, in July, after her lawyers said she had a serious medical condition that would require surgery and an extended period of recovery. The indictment, which runs 66 pages, outlines a variety of schemes. But perhaps nothing has caught the public eye as much as its descriptions of the cash, gold bars and a Mercedes-Benz convertible found during a June 2022 search of the senator’s home in Edgewood Cliffs, N.J.
Persons: Menendez, Judge Stein, Rosenbaum, Nadine Menendez Organizations: Democrat, Foreign Relations, Benz Locations: New Jersey, Egypt, Qatar, Jersey, Edgewood Cliffs, N.J
In a letter to staff, McCarthy said the company needed to implement layoffs because it wouldn't be able to generate sustainable free cash flow with its current cost structure. "Achieving positive [free cash flow] makes Peloton a more attractive borrower, which is important as the company turns its attention to the necessary task of successfully refinancing its debt," McCarthy said in the memo. McCarthy had also expected Peloton to reach positive free cash flow by June — a goal the company said it reached early during its third quarter. In a letter to shareholders, Peloton said it generated $8.6 million in free cash flow but it's unclear how sustainable that number is. The company didn't provide specific guidance on what investors can expect with free cash flow in the quarters ahead but said it does expect to "deliver modest positive free cash flow" in its current quarter.
Persons: Barry McCarthy, McCarthy, Karen Boone, Chris Bruzzo, Jay Hoag, It's, John Foley, hasn't, Goldman Sachs, Boone, Barry, Bruzzo, , hadn't, Creditsafe, it's, Foley Organizations: Interactive, Allen & Company Sun Valley Conference, Spotify, Netflix, JPMorgan, LSEG, outperformance, CNBC Locations: Sun Valley , Idaho, lockstep
Maserati's first GranCabrio convertible since 2019 is scheduled to go on sale this summer in the U.S. Global automaker Stellantis on Tuesday reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm. Chief Financial Officer Natalie Knight said year-over-year shipment and net revenue comparisons were difficult due to the company's transition to a "next generation product portfolio manufactured on new platforms." This is a breaking news story and will be updated shortly.
Persons: Maserati's, Natalie Knight Organizations: U.S . Global, Stellantis Locations: U.S
Canceling Life Insurance
  + stars: | 2024-04-26 | by ( Ronda Lee | Alani Asis | Paul Kim | ) www.businessinsider.com   time to read: +11 min
How to cancel your life insurance policyCanceling a term life insurance policyThere are several ways to cancel a term life insurance policy. Alternatives to life insurance cancelationcanceling your life insurance policy isn't ideal if you have dependents who rely on your income for financial support. If you have a whole life insurance policy, look into reduced paid-up life insurance. Life insurance settlementIf you don't have a terminal diagnosis and you want to sell your term life insurance policy, you can apply for a life insurance settlement with a third-party provider instead of canceling your policy. Canceling life insurance FAQsWill I get any money back if I cancel my life insurance policy?
Persons: Lucas Siegel, Siegel, wouldn't, policyholders, you've Organizations: Internal Revenue Service
In the 21st Century, though, Buick, which celebrates its 125th anniversary this year, has been a quiet spot in GM’s North American brand strategy. Last year, Buick sales rose more than 60% in the US compared to 2022. The Buick Envista introduced last summer is, essentially, a modified version of the well-received Chevrolet Trax, GM’s cheapest crossover SUV. The 1938 Buick Y Job is generally considered the auto industry's first "concept car." Last year, Avenir models, which get some fancier interior materials, more features, and distinctive paint colors, made up almost a third of Buick sales, the highest levels yet, Aldred said.
Persons: Louis Chevrolet, , it’s, , Ivan Drury, Jason Barlow, Envista, Bob Boniface ,, Duncan Aldred, Drury, It’s, Buick, that’s, Aldred Organizations: CNN, Buick, GM, Riviera, Chevrolet Trax, GMC, Chevy, Cox Automotive, Cadillac, General Motors, Liverpool Locations: GM’s, China, the, America, Europe
When he was born, he mostly slept in his crib and napped in bed next to me. Once he became a toddler, we turned his convertible crib into a toddler bed. Related storiesEventually, we got rid of the toddler bed, as he was no longer sleeping in it at all and would cry to sleep in the bed with us. I sat him down that night before bed and spoke to him about the importance of owning his own bed. That first night of having his own bed, he slept in it the entire night.
Persons: I've, , Kai Organizations: Service, Ikea
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview"Tell me about your day," I lobbed to my 15-year-old son, hoping my command for details would prevent his customary "It was fine." My son, my baby, my secretly favorite child, couldn't even bear 10 minutes of talking? The Littlest Bear, a small pudge of brown fur, asks his mom in a slight peep, "Am I your favorite?" Yes, my son is breaking up with me, exactly as he is supposed to do.
Persons: Organizations: Service, Business
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