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☆ Paul Singer's Elliott Management just raised $8.5 billion. The vaunted hedge fund laid out where it sees opportunities in its latest letter to investors.
▼ + stars: | 2024-05-30 | by ( Bradley Saacks | Alex Morrell | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAfter raising $13 billion in 2022, billionaire Paul Singer's Elliott Management raked in another sizeable haul over the past six months. This story is available exclusively to Business Insider subscribers. Related stories"Historical and mathematical fact can get lost in the excitement when stocks are on a tear," the letter states. The firm recently took a $2.5 billion stake in Texas Instruments, calling on the 94-year-old company to improve its free cash flow.

Persons: —, Paul Singer's Elliott, Elliott —, Elliott, doesn't Organizations: Service, Paul Singer's Elliott Management, Business, Texas Locations: YOLO

☆ Citadel Securities Taps Goldman's Jim Esposito As First-Ever President
▼ + stars: | 2024-05-30 | by ( Reed Alexander | Michelle Abrego | ) www.businessinsider.com time to read: +5 min

Read previewCitadel Securities announced Thursday that Jim Esposito, a former cohead of the global banking and capital markets group at Goldman Sachs, is set to join the company as president in September. He will report to Peng Zhao, Citadel Securities' CEO, a spokesperson for the firm confirmed to Business Insider. "We are thrilled to welcome Jim to Citadel Securities during a period of significant expansion and opportunity for our firm." Bloomberg News earlier reported Esposito's appointment to Citadel Securities on Thursday. Ken Griffin, the billionaire hedge fund founder of both the asset manager Citadel as well as Citadel Securities, relocated his companies' headquarters to the Magic City in 2022.

Persons: —, Jim Esposito, Goldman Sachs, Peng Zhao, Esposito, Goldman, Jim, Ken Griffin, Zhao Organizations: Service, Citadel Securities, Business, Citadel, Apple, Goldman, . Citadel, BI, Bloomberg, Sunshine State, Magic City, Elliott Management Locations: South Florida, London, Miami, Chicago . Miami

We asked seven pro investors to identify the best trades of their careers and explain how the lessons from those decisions still apply today. The CBOE Volatility Index, also known as the VIX, shot above 40, essentially meaning traders were betting that the stock market would be exceptionally rocky over the following month. Jeff Muhlenkamp, lead portfolio manager at Muhlenkamp & CompanyJeff Muhlenkamp Muhlenkamp & CompanyJeff Muhlenkamp's namesake Muhlenkamp Fund (MUHLX) has been in the top 3% of its category in the past half-decade, thanks to trades like one he pulled off on Chinese internet firm Baidu (BIDU). "I pretty much expected, 'OK, if I get a double out of this in five years, I'll be happy' — that's pretty decent money," Muhlenkamp said. He noted that industrials within the Russell Mid Cap value index have returned 116% over the previous five years.

Persons: —, That's, Michael Burry, Warren Buffett, Berkshire, Rob Arnott, Tim Boyle, Arnott, I'd, Bob Elliott, Bob Elliott's, Elliott, Jeff Muhlenkamp, Jeff Muhlenkamp Muhlenkamp, Jeff Muhlenkamp's, Muhlenkamp, you've, Sona Menon, Cambridge Associates Sona Menon, Bryant VanCronkhite, Allspring Bryant VanCronkhite Allspring Bryant VanCronkhite, VanCronkhite, Russell, industrials, James Davolos, Davolos, George Patton, Harley Bassman, Harley Bassman's, Bassman, Merrill Lynch, I'm Organizations: Service, American Express, Business, Research, Bloomberg, Getty, Bridgewater Associates, Treasury, Securities, Muhlenkamp, Baidu, Google, North, Cambridge Associates, Allspring, Horizon Kinetics, Opportunities Fund, Credit Suisse Locations: industrials, West Africa, New York City, Guinea

☆ Texas Instruments CEO open to activist Elliott's free cash flow proposal
▼ + stars: | 2024-05-30 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

"We definitely look forward to engaging in a constructive dialogue with Elliott," Ilan said at AllianceBernstein's Strategic Decisions conference, marking his first public remarks since the activist revealed a $2.5 billion position in the company. Texas Instruments has spent heavily on chip fabrication plants, or fabs, as it seeks to maintain its dominant position in the analog semiconductor market. But that growth in capex has come at a significant cost to free cash flow per share, a self-declared key metric for TI, Elliott noted. By Elliott's analysis, FCF per share fell from $6.40 in 2022 to $1.47 per share in 2023. But it remains a giant business, accounting for $13 billion or 74% of TI's revenue in 2023.

Persons: Haviv Ilan, Elliott, Ilan Organizations: Texas, CNBC, TI, Texas Instruments, Micron Technologies Locations: Utah, capex

☆ This cybersecurity stock is breaking out as industry rides the AI boom, according to the charts
▼ + stars: | 2024-05-28 | by ( Todd Gordon | ) www.cnbc.com time to read: +3 min

Crowdstrike (CRWD) is a best-in-class cybersecurity leader that is poised for a technical breakout from resistance, despite being richly valued. One of the top concerns for firms in a post-pandemic world of remote, at-home workers is cybersecurity. Plus, the industry will also benefit greatly from the generative AI and cloud computing boom. And the long-term outlook for cybersecurity stocks is quite bullish as we power into what Nvidia's Jensen Huang refers to as 'the next industrial revolution'. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: Cybersecurity, Morgan Stanley, Elliott, Nvidia's Jensen Huang, Todd Gordon, Gordon, CRWD Organizations: Alto Networks, Palo Alto Networks, Tactical Alpha, Edge, Inside Edge, Inside Edge Capital Management

☆ Activist Elliott takes $2.5 billion stake in Texas Instruments, urges company to improve free cash flow
▼ + stars: | 2024-05-28 | by ( David Faber | ) www.cnbc.com time to read: +3 min

Elliott, the $65 billion hedge fund best known for its shareholder activism , has made a $2.5 billion investment in Texas Instruments and is urging the company to improve its free cash flow by adapting a less rigid plan for capital expenditures. Shares of TI jumped about 3% on the news before paring back the gains in morning trading. Elliott believes Texas Instrument's rigid adherence to a capital expenditure plan put in place in 2022 has eviscerated shareholder returns by greatly reducing a metric by which TI has always asked to be judged– free cash flow. Its stock price, Elliott insists, has suffered as a result, trailing its peer group by substantial margins over the last two, four, six and ten year periods. That allocation of capital will result in the addition of capacity allowing for the company to almost double current annual revenues to $30 billion.

Persons: Elliott, paring, Jesse Cohn, Jason Genrich Organizations: Texas, CNBC, TI, Elliott, YouTube Locations: Texas, Western

☆ Chevron’s $53 Billion Oil Deal Is Backed by Hess Shareholders
▼ + stars: | 2024-05-28 | by ( Rebecca Elliott | ) www.nytimes.com time to read: +1 min

A large oil industry deal advanced on Tuesday after shareholders of Hess approved a proposed sale of the company to Chevron for $53 billion. Control over one of the most prized oil assets, off the shores of Guyana, is at stake in the deal, which still faces significant hurdles. Exxon is contesting Chevron’s acquisition of Hess by arguing that Hess can’t sell itself without allowing Exxon to buy its stake in the Guyana project. Chevron and Hess have said Exxon’s interpretation of the terms of Exxon and Hess’s partnership is incorrect. But Hess prevailed at its shareholders’ meeting on Tuesday in convincing a majority that the deal was in their best interest.

Persons: Hess Organizations: Chevron, Exxon Mobil, Exxon Locations: Guyana, sweetening

☆ Jim Cramer likes bullish calls on Viking and Airbnb but is cautious on this bank
▼ + stars: | 2024-05-28 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +1 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. "They don't want kids, and they don't want gambling," and that's the appeal of Viking, Cramer said. Airbnb : Shares of the short-term rental company were upgraded to a buy-equivalent outperform rating at Wedbush. Huntington Bancshares : The regional bank stock was upgraded to a buy-equivalent overweight rating at JPMorgan. Cramer said Texas Instruments didn't make the right moves with customers and shareholders and that's why Elliott moved in.

Persons: Jim Cramer's, Mike Sievert, Jim Cramer, initiations, Viking, Cramer, Huntington, Elliott Organizations: CNBC, Club, U.S . Cellular, Mobile, U.S, Cellular, Viking Holdings, JPMorgan, Texas, Elliott Management

☆ I used to hate when people brought their kids to happy hour. Now that I'm a parent, I do it all the time.
▼ + stars: | 2024-05-28 | by ( Elliott Harrell | ) www.businessinsider.com time to read: +4 min

There's a long standing debate about whether people should take their kids to a bar or if they should leave them at home. Pre-kids, I believed kids should stay homeI used to be in the camp that kids should stay home and that bars should just be for adults. Elliott Harrell didn't understand why parents brought their kids to happy hour until she had her own kids. Courtesy Elliott HarrellI try to pick spots where my kids will disrupt patrons the leastEven though I support parents taking kids to bars, I do think that parents should consider which spots will be better for kids. Taking our kids to happy hour is a way for us to get a change of scenery and be social without having the struggle of finding a babysitter.

Persons: we've, —, There's, they'll, aren't, They're, doesn't, Elliott Harrell, I'm Organizations: Service, Business Locations: margarita

☆ Nvidia's flatness shows rest of the market is struggling, says Unlimited CEO Bob Elliott
▼ + stars: | 2024-05-24 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia's flatness shows rest of the market is struggling, says Unlimited CEO Bob ElliottTracie McMillion, Wells Fargo head of global asset allocation strategy, and Bob Elliott, Unlimited CEO, join 'Closing Bell: Overtime' to discuss the markets, Nvidia earnings and sector winners.

Persons: Bob Elliott Tracie McMillion, Wells, Bob Elliott Organizations: Nvidia Locations: Wells Fargo

☆ Moderna and this solar name are among the most overbought stocks after a record-setting week
▼ + stars: | 2024-05-24 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

It may be time for investors to trim positions in overbought names after the stock market reached record levels this week. Certain stocks this week became overbought, based on their 14-day relative strength index, or RSI. Here are the most overbought names in the S & P 500 this week: Moderna was the most overbought stock in the S & P 500, scoring an RSI of about 86.5. Analysts think shares, which have rallied about 28% this year, could peel back roughly 8%. Other oversold stocks include SLB , J.B. Hunt and Molson Coors .

Persons: LSEG, Jon Windham, Johnson, Ulta, Hunt Organizations: Dow Jones Industrial, Nasdaq, Nvidia, Moderna, UBS, Johnson Controls, Bloomberg, Elliott Investment Management, Johnson, Barclays, Deutsche Bank, Jefferies, Molson Coors Locations: U.S, oversold, J.B

The Haley rationale for backing TrumpAfter months of speculation, Nikki Haley said — in her first appearance since dropping out of the Republican presidential primary — that she would vote for Donald Trump, the man against whom she waged a sometimes scathing campaign. But it may provide cover to prominent donors like Ken Griffin who in recent weeks has suggested that he might come in from the cold and donate to Trump. Deep-pocketed Republicans flocked to Haley during the primary. “I think she is just what we need right now,” Langone said on Fox News. “What Trump put this country through the last three months of his presidency was disgraceful.”But donors are rethinking their aversion to Trump, who handily beat Haley and other rivals and is now leading President Biden in some polls.

Persons: Haley, Nikki Haley, —, Donald Trump, Ken Griffin, Griffin, Paul Singer, Henry Kravis, Barry Sternlicht, Cliff Asness, Stanley Druckenmiller, Ken Langone, Reid Hoffman, wasn’t Trump, Nikki, ” Sternlicht, ” Langone, Trump, Biden, White, Israel Organizations: Trump, Republican, PAC, Elliott Management, KKR, Starwood Capital, AQR Capital Management, Democratic, LinkedIn, Times, Fox News Locations: Gaza

☆ Here's how to buy renewable energy from your electric utility
▼ + stars: | 2024-05-21 | by ( Greg Iacurci | ) www.cnbc.com time to read: +7 min

In the voluntary market, customers buy renewable energy in amounts that exceed states' minimum requirements from utility companies. Customers in these programs — also known as utility green power programs — pay their utility a "small premium" to get electricity from renewable sources, according to the U.S. Energy Department. Green power marketing programs Consumers in some states can also opt into "green power marketing programs." watch nowGreen energy programs instead rely on "renewable energy certificates," or RECs. It's a way to provide extra funding to a renewable energy project, typically sold by a broker or marketer rather than a utility, Sumner said.

Persons: Mark Felix, Jordan Vonderhaar, Jenny Sumner, It's, Joe Raedle, Loren Elliott, —, Sumner, Valerie Macon, Joydeep Mitra, Mitra Organizations: Afp, Getty, U.S . Energy Information Administration, National Renewable Energy Laboratory, Environmental Protection Agency, Roadrunner, Bloomberg, U.S . Department of Energy, Getty Images, U.S . Energy Department, Yale University's, EPA, Michigan State University Locations: Dawson , Texas, U.S, McCamey , Texas, Solano County , California, California , Connecticut, Delaware , Illinois, Maine , Maryland , Massachusetts, Michigan , New Hampshire , New Jersey , New York , Ohio, Pennsylvania, Rhode Island , Texas, Virginia, California, Imperial , California

☆ Biden and Big Oil Had a Truce. Now, It’s Collapsing.
▼ + stars: | 2024-05-21 | by ( Lisa Friedman | Rebecca Elliott | ) www.nytimes.com time to read: +1 min

Early in his term, President Biden seemed to have struck an uneasy truce with the oil and gas industry. Mr. Biden had imposed restrictions on drilling as part of his ambitious climate agenda, but he also approved an enormous $8 billion oil project in Alaska. The United States had become the world’s leading exporter of natural gas, and no other country in history was pumping more crude. Then, in January, Mr. Biden paused new permits for export facilities for liquefied natural gas. That decision galvanized oil and gas companies against Mr. Biden, according to industry lobbyists, and will be an undercurrent at a fund-raising lunch set for Wednesday in Houston.

Persons: Biden, Donald J, Trump, Mr, “, ”, Thomas J, Pyle Organizations: United, Mr, American Energy Alliance Locations: Alaska, United States, Houston

☆ Monday’s rapid fire: Johnson Controls, Micron, Nucor, JPMorgan Chase and Norwegian Cruise Line
▼ + stars: | 2024-05-20 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMonday’s rapid fire: Johnson Controls, Micron, Nucor, JPMorgan Chase and Norwegian Cruise LineCNBC’s Jim Cramer on Monday offered his take on the latest Wall Street headlines, including Elliott’s take in Johnson Controls and research on steel stocks.

Persons: Johnson, Jim Cramer Organizations: Micron, Nucor, JPMorgan Chase, Cruise, Monday, Johnson Controls

☆ Stocks making the biggest moves premarket: Apple, Nvidia, Li Auto and more
▼ + stars: | 2024-05-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Apple — Apple shares slipped less than 1% after Reuters reported the technology giant is implementing aggressive discounts on its iPhones in China. Micron Technology — Shares moved 2.3% higher after Morgan Stanley upgraded the semiconductor company to equal weight from underweight. Johnson Controls — Shares rose 5% after Bloomberg News reported Elliott Management has built a more than $1 billion stake in the security and safety company. Teradyne – The semiconductor testing equipment stock rose nearly 3%. Goldman Sachs upgraded Teradyne to a buy rating, citing its recent strong quarter and expectations for a "cyclical recovery" within its system-on-chip design test business.

Persons: Morgan Stanley, Li, Johnson, Elliott, Goldman Sachs, —, Alex Harring, Michelle Fox Organizations: Apple, Reuters, Micron Technology —, Micron, Nvidia, Barclays, Stifel, Li Auto, GameStop, AMC Entertainment, Bloomberg News, Elliott Management Locations: China

☆ Stocks making the biggest moves midday: Hims & Hers Health, Norwegian Cruise Line, Target and more
▼ + stars: | 2024-05-20 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Wix.com — The web development company jumped more than 25% after it posted better-than-expected first-quarter results. Norwegian Cruise Line — The cruise line operator jumped more than 8% after Norwegian Cruise Line lifted its full-year earnings guidance. It also reported better-than-expected first-quarter results. Hasbro — Shares gained 3% after Morgan Stanley called Hasbro a top pick, saying its recent underperformance gives investors a strong entry point. Uranium stocks have recently gained after President Joe Biden signed a bill banning imports of Russian uranium for nuclear fuel.

Persons: Wix.com, Li Auto, Goldman Sachs, Morgan Stanley, Johnson, Elliott, Joe Biden, NuScale, — CNBC's Michelle Fox, Lisa Kailai Han, Alex Harring, Samantha Subin Organizations: Norwegian Cruise, Target, GameStop, Micron Technology, Hasbro —, Hasbro, Bloomberg News, Elliott Management, Nvidia, Microsoft, Dell Technologies Locations: Norwegian, U.S, NextDecade's Rio

☆ Analysts say Corona brewer is a buy despite slowdown in sales across the industry
▼ + stars: | 2024-05-20 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +4 min

Two Wall Street research firms are calling Constellation Brands a buy, arguing that worries over a key sales metric for the beer maker are overblown. Based on their bi-annual survey of the beer market, the analysts expect depletions for Constellation to rise 7% or more this year. Jim has been calling for Constellation to get out of wine and spirits and concentrate solely on beer. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: industrywide, Jefferies, Wells, Jim, Elliott, Bill Newlands, Newlands, Garth Hankinson, Jim Cramer's, Jim Cramer, Justin Sullivan Organizations: Constellation Brands, Jefferies, Modelo, Constellation, Wells, Elliott Management, CNBC Locations: Wells Fargo, Corona, Modelo, San Rafael , California

☆ Cramer says activist interest in Johnson Controls is 'a gimme,' but worries about a steel stock
▼ + stars: | 2024-05-20 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Johnson Controls : Activist investor Elliott has built a more than $1 billion stake in the HVAC control firm, Bloomberg News reported. "The stock is up 22% [year to date], but it has lagged Trane . "It was just a mistake [to have an underweight rating on the stock]," Cramer said, adding later: "From 1995 on, you have to understand the moment inventories are lean, you've got to buy. Steel stocks: Analysts at Jefferies initiated coverage of steel stocks, beginning with a buy rating on Cleveland-Cliffs and U.S. Steel and hold ratings on Nucor and Steel Dynamics . JPMorgan Chase : The banking giant slightly raised its full-year net interest income outlook to $91 billion from $90 billion.

Persons: Jim Cramer's, Elliott, Jim Cramer, Morgan Stanley, Cramer, you've, I've, Frank Del Rio, Harry Sommer, He'll Organizations: CNBC, Club, Johnson, Bloomberg News, Micron Technology, Jefferies, Cliffs, . Steel, Steel Dynamics, JPMorgan Chase, Cruise Locations: Cleveland

☆ Millions are at risk for severe weather as storms could bring tennis ball-sized hail today
▼ + stars: | 2024-05-19 | by ( Dalia Faheid | ) edition.cnn.com time to read: +5 min

CNN —Millions across parts of the Central Plains are at risk for severe weather Sunday that could bring tornadoes, tennis ball-sized hail and damaging winds to the area. “Destructive wind swaths of 80-100 mph may occur, with localized extreme gusts exceeding 100 mph possible,” the Storm Prediction Center warned. The severe weather in Houston Thursday included a derecho with 100 mph winds. “Scattered severe storms are expected to affect the region Sunday afternoon and evening,” the National Weather Service in Wichita said. Through early next week, the Central US faces an increasing threat of severe weather and excessive rainfall, according to the National Weather Service.

Persons: “ We’re, Matt Elliott, “, Storms Organizations: CNN, Storm, Storm Prediction Center, Storm Prediction, National Weather Service Locations: Central, Gulf Coast, Plains, United States, Florida, Georgia, South Carolina, Central Plains, Houston, Kansas, Dodge City, Salina, Hutchinson, Garden City, Hays, Wichita, Michigan , Wisconsin, Illinois, Chicago, Detroit, Mississippi, Lower Michigan, Harris County

☆ A renowned market bear who called the dot-com bubble warns Wall Street groupthink is wrongly leading investors to abandon recession forecasts — and says a 'policy disaster' is brewing as the Fed keeps
▼ + stars: | 2024-05-18 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Various labor market indicators are also showing growing weakness in the economy, he said. Societe GeneraleNational Federation of Independent Business data shows further labor market weakness is likely to come, as small business hiring plans continue to fall. Both stats would suggest a rising unemployment rate going forward. In the meantime, the labor market has consistently proven resilient despite high interest rates, and stocks have enjoyed an eye-popping rally to new highs. Some also argue that labor market data points like the rising unemployment rate have to be shown with context.

Persons: —, Albert Edwards, didn't, Edwards, aren't, we'll, Societe Generale Edwards, Bob Elliott, groupthink Edwards, Alan Greenspan Organizations: Service, Societe Generale, Wall, Business, Societe Generale National Federation of Independent Business, ING, Generale, Unlimited Partners, Bridgewater Associates, of Labor Statistics, Tech

☆ I changed my first and last name after having kids. The paperwork was complicated.
▼ + stars: | 2024-05-18 | by ( Elliott Harrell | ) www.businessinsider.com time to read: +4 min

Most people know me as Elliott Harrell, but that wasn't my actual name until recently. Initially, I thought I'd use Elliott Harrell socially and my given legal name when mandated and that everything would be fine. Elliott Harrell changed her name after having her second child. My name was legally changed over three months ago and since then I've been working on getting things like my license, passport, and even my Costco card changed over. AdvertisementEven though I'm still in the depths of paperwork hell, I'm so glad I decided to move forward with the process.

Persons: Elliott Harrell, Jane Walker, it's, Elliott, I'd, Jane, Harrell, Elliott Walker, Walker, I've, I'm Organizations: Service, Business Locations: North Carolina

☆ As a parent, I make the most of work trips to turn them into vacations. I schedule lunches instead of dinners so I can sleep.
▼ + stars: | 2024-05-16 | by ( Elliott Harrell | ) www.businessinsider.com time to read: +3 min

On a recent work trip to New York City, I had dinner with my boss. It was a far cry from what work dinners used to look like when I traveled. My first business trip was a sales conference in San Diego in 2009. For the next 10 years or so, every time I took a business trip, I reveled in all of the late-night activities. Swapping business dinners for lunches still means I get dedicated face time with people, but it also means that I can enjoy a break from parenthood while I'm away.

Persons: I've, that's, I'm, hasn't, It's Organizations: Service Locations: New York City, San Diego, It's

☆ Bank loan loss reserves are high. What that means for the economy and earnings
▼ + stars: | 2024-05-15 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

Loan loss reserves have perked back up in recent quarters and are at roughly 1.75% of loans outstanding, according to MRB Partners. If the economy only modestly slows, as many economists expect, new loan loss reserves could be smaller in the future. This situation comes as bank earnings were generally better than expected for the first quarter. Lauren Goodwin, chief market strategist and economist at New York Life Investments, agreed that a potential slowing or reversal of loan loss reserves would be positive for bank earnings but said she is cautious about bank profitability more broadly. To be sure, banks may need to increase their loan loss reserves if the economic outlook gets worse.

Persons: Banks, Bob Elliott, Salvatore Ruscitti, Ruscitti, Lauren Goodwin, Goodwin, they're, Unlimited's Elliott Organizations: MRB Partners, Funds, Bank, P Bank ETF, New York Life Investments Locations: Bridgewater, MRB

☆ Why the drag looks in ‘The Adventures of Priscilla, Queen of the Desert’ are still iconic, 30 years on
▼ + stars: | 2024-05-15 | by ( Caitlin Chatterton | ) edition.cnn.com time to read: +8 min

This is the opening scene from “The Adventures of Priscilla, Queen of the Desert”, which first screened at Cannes Film Festival 30 years ago this month. In the film, Tick (Hugo Weaving) and Bernadette (Terence Stamp) help Adam (Guy Pearce) realize his dream of climbing King Canyon in full drag. “I think that’s definitely one of the most iconic looks,” drag artist and costumer Philmah Bocks told CNN. Bocks has been designing costumes for 30 years, having broken into the drag scene around the same time “Priscilla” was hitting screens. The film’s legacy can also be seen in Australia’s drag scene today and, since 2021, has been broadcast to new audiences via contestants on “Rupaul’s Drag Race Down Under”.

Persons: CNN —, Belrose, Hugo Weaving, Mitzi Del, Priscilla , Queen, “, Tim Chappel, I’d, Elliott, Bernadette Bassenger, Terence Stamp, Adam Whitley, Felicia Jollygoodfellow, Guy Pearce, Priscilla, Queen, Bernadette, Adam, Chappel, ” Chappel, Susan Barber, Priscilla ”, Lizzy Gardiner, Oscar, Mitzi Del Bra, ”, Gloria Gaynor’s “, costumer Philmah Bocks, Bocks, Tim Chappel's, Priscilla ’, they’ve, couldn’t, I’ve, “ Priscilla ”, she’s, London’s, Katy Perry, they’re, Katy Perry’s, ” Bocks, Felicia Jollygoodfellow's, ” Stephan Elliott Organizations: CNN, Cannes Film, Miss Teen USA, Sydney, Cannes, Chappel, First Nations, Royce Locations: CNN — Sydney, Silicon, Sydney, Australia, Tasmania

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