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☆ Zuckerberg motivates supervoting stock resistance
▼ + stars: | 2022-10-27 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +3 min

NEW YORK, Oct 27 (Reuters Breakingviews) - Mark Zuckerberg is providing fresh motivation for investors everywhere. If there was ever a time for shareholders to rally against the sort of dual-class structures that surrender control to entrepreneurs, Zuckerberg has provided the ammunition. At the time of the stock sale, Zuckerberg commanded 57% of the vote with just a 28% economic stake, subjugating other owners with supervoting shares that carry 10 votes apiece. Meta reckons its board is sufficiently independent to keep watch over Zuckerberg, despite his codified influence over it. Rejecting supervoting stock would be the best option.

☆ Mobileye IPO benefits from some driver assistance
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

Doing so helped Mobileye (MBLY.O)price its shares a bit above their indicated range, at $21 apiece, and spark a 38% jump in their market debut on Wednesday. The maker of components for driver-assistance systems, its parent company Intel (INTC.O) and two dozen underwriters slashed the original valuation target from $50 billion down to about the same $15 billion the chipmaker originally paid to buy the company five years ago. After a long drought in initial public offerings, Mobileye’s deal provides a glimmer of hope for new stock sales. Although Mobileye is unprofitable, its top line grew 41% in the three months ending July 2 compared to approximately the same stretch a year earlier. And despite briefly cracking open the IPO market, the deal failed to win Intel any additional credit.

☆ Meta’s spending splurge starts to look troubling
▼ + stars: | 2022-10-26 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

Last year, existing operations generated enough cash to justify the spending spree. If results slip – and the third quarter suggests they could – spending will become a problem. Mark Zuckerberg’s company posted operating income of $5.6 billion, almost half of what it was in the third quarter of 2021, as margins also declined considerably. Last year’s $59 billion in operating cash flow underpinned Zuckerberg’s bold initiative. The company said that daily active users grew to nearly 2 billion, a 3% increase year-on-year.

☆ Fake billionaire, Harvard MBA grad Justin Costello denied bail after judge calls him 'economic danger' to public
▼ + stars: | 2022-10-25 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

"The weight of the evidence is strong," Butcher wrote in his detention order in U.S. District Court in San Diego. Source: FBIButcher wrote that the evidence itself is the least important factor in his decision to keep Costello in jail. Costello, who has ties to Washington, Las Vegas and California, is due in San Diego court later Tuesday for another hearing related to his expected transfer to Washington state to face trial. But he never showed up as agreed at the FBI's office in San Diego, and went on the lam. Cash and gold bars as detailed in court filing in US District court in San Diego in case of former fugitive Justin Costello.

☆ Alphabet properly preps its books for a downturn
▼ + stars: | 2022-10-25 | by ( Jennifer Saba | ) www.reuters.com time to read: +2 min

NEW YORK, Oct 25 (Reuters Breakingviews) - Alphabet (GOOGL.O) is better prepared than its ad-dependent rivals. The parent of Google reported on Tuesday third-quarter revenue growth slowed to 6% year-over-year to $69 billion, the worst performance since the pandemic. For the company run by Sundar Pichai, a looming downturn will be a little less painful. That shows up in Alphabet’s own results: Google’s search revenue for example rose 4%, while for YouTube, sales slipped 2%. Follow @jennifersaba on TwitterloadingCONTEXT NEWSAlphabet on Oct. 25 reported that third-quarter revenue increased 6% to $69 billion, missing analyst estimates according to Refinitiv.

So in 2018, they used a home equity line of credit to buy their first rental property in cash. While the couple could've saved for a down payment for their rental property, it would've taken months, if not a few years. In choosing the location for their rental property, they looked for a turnkey home that was pretty much move-in ready for tenants. Another perk of having a solid team to take care of their rental properties is the couple rarely needs to travel for in-person visits. All in all, Marques and Shyra are happy they made the decision to purchase their first rental property with a HELOC.

☆ Excessively cheap stocks that you can buy now, according to Trivariate Research
▼ + stars: | 2022-10-25 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Trivariate Research CEO and founder Adam Parker said some stocks are excessively cheap after this year's market turbulence and poised for growth next year. Market participants are dealing with rising inflation, a hawkish Federal Reserve, excessive inventory levels, and elevated earnings estimates. Trivariate Research found stocks that are attractive compared with pre-Covid levels in 2019. Visa is down 11.8% this year, but it could be poised for growth in 2023 as international travel recovers from its pandemic lows. Other stocks included in this list are Booking Holdings , Lam Research and Microchip Technology .

☆ These 15 people are shaping the office of the future, designing meeting pods, hologram calls, and buildings that actually make workers healthier
▼ + stars: | 2022-10-24 | by ( Robert Davis | ) www.businessinsider.com time to read: +27 min

These 15 power players are just a handful of the people designing workplaces to balance productivity, interaction, and employee well-being through indoor-air-quality monitoring systems, building amenities, holographic meeting spaces, and more. AftershipCities like Austin, Texas; Nashville, Tennessee; and Raleigh, North Carolina, began offering business-relocation incentives during the pandemic to boost their workforces and help increase occupancy in office buildings. Room's office suite includes a phone booth, a meeting room, an open meeting room, and a focus room. Room also makes a soundproof meeting room that fits two people, a more open meeting booth, and a focus room designed for quiet concentration. "The future of office work needs to be guided by a new, genuine form of flexibility in which the work, not the workers themselves, become even more malleable," Petersen writes.

☆ China's new leadership lineup risks fewer checks and balances: Think tank
▼ + stars: | 2022-10-24 | 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 EmailChina's new leadership lineup risks fewer checks and balances: Think tankWilly Lam of Jamestown Foundation says China's new Politburo lineup is stacked with people loyal to President Xi Jinping.

☆ Xi Jinping now 'more or less a dictator' of the country, China expert says
▼ + stars: | 2022-10-24 | 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 EmailXi Jinping now 'more or less a dictator' of the country, China expert saysVictor Shih, Ho Miu Lam chair in China and Pacific relations at UCSD, discusses the China politburo's standing committee as President Xi Jinping fills it with loyal supporters.

BEIJING, Oct 23 (Reuters) - Li Qiang, who oversaw Shanghai's grinding two-month COVID-19 lockdown this year as party boss of China's commercial hub, is on track to become China's next premier after President Xi Jinping unveiled a new governing body packed with loyalists. Current Premier Li Keqiang, a more reform-minded voice, will step down in March after the maximum two terms. "We have not seen Li Qiang introduce any market-oriented reforms," said Lam. In 2015, Li accompanied Xi on a visit to the United States to meet then-President Barack Obama. In Seattle with Xi, Li gave a speech calling for more cooperation between Zhejiang and U.S. firms.

☆ They were on the run from the Taliban, abandoned by their US allies — until a Wall Street banker decided to smuggle them out of Afghanistan
▼ + stars: | 2022-10-23 | by ( Nina Burleigh | ) www.businessinsider.com time to read: +29 min

His daughter worked for the US-backed government in Kabul, prosecuting the Taliban and their followers for acts of violence against women. The war in Afghanistan effectively began on 9/11, with the attacks on Wall Street and the Pentagon. Last summer, when the Taliban overran Kabul, Calbos was in Greece visiting his father. "I see kind of a mirror image to mine in his history and his family," Calbos says. With the clock ticking on the family's temporary visas, Calbos scrambled to arrange a flight out of Pakistan.

☆ China's Xi clinches third term, packs leadership team with loyalists
▼ + stars: | 2022-10-23 | by ( Yew Lun Tian | ) www.reuters.com time to read: +3 min

REUTERS/Tingshu WangBEIJING, Oct 23 (Reuters) - China's Xi Jinping secured a precedent-breaking third leadership term on Sunday and introduced a new Politburo Standing Committee stacked with loyalists, cementing his place as the country's most powerful ruler since Mao Zedong. Shanghai Communist Party chief Li Qiang followed Xi onto the stage at the Great Hall of the People as the new leadership team was introduced, meaning he is likely to succeed Li Keqiang as premier when he retires in March. The other members of the seven-man Standing Committee, China's top governing body, are Zhao Leji and Wang Huning, who return from the previous committee, and newcomers Cai Qi, Ding Xuexiang and Li Xi. Li Qiang is also new to the Standing Committee. Xi Jinping also has total control over the larger Politburo and Central Committee," he said.

☆ Truss’s exit highlights America’s free pass
▼ + stars: | 2022-10-21 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

While British Prime Minister Liz Truss’s tax proposals cut her time in office short, U.S. fiscal policy for years hasn’t been that much different. If it weren’t for the greenback’s status as the world’s reserve currency, the laws of economics would apply to America, too. Her ideological mentors in America have long argued that such tax cuts pay for themselves, and they are nothing new stateside. Still at least by some measures, the United States looks worse than Truss’s country. While Truss’s policy experiment wasn’t given any rope, the United States seems to know no failure.

☆ This week's best stock markets performers include earnings winners such as Netflix
▼ + stars: | 2022-10-21 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Stocks are capping off a strong week Friday, despite some choppy trading, as rising yields failed to dampen market enthusiasm over stronger-than-expected corporate earnings results. Robust corporate results from Netflix and AT & T reassured investors who were expecting a worse showing this earnings season. Netflix claimed the top spot after stronger-than-expected third-quarter results prompted investors to pile back into the stock. Shares of Netflix are up more than 18% this week, but only about 36% of analysts rate the stock a buy, according to FactSet. However, just 30% of analysts have a buy rating on the stock, according to FactSet.

☆ China's economy will probably grow less than 3% this year, says economist
▼ + stars: | 2022-10-21 | 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 EmailChina's economy will probably grow less than 3% this year, says economistMichelle Lam of Societe Generale says the Shanghai lockdown in the second quarter is a significant reason for slowing growth.

☆ Buying on the Bad Chip News
▼ + stars: | 2022-10-20 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Winter is coming for companies that make semiconductor manufacturing gear. The prospect is warming investors’ hearts. Lam Research posted strong results for its fiscal first quarter late Wednesday. Revenue and operating earnings exceeded Wall Street’s forecasts, and revenue growth actually accelerated from the last two quarters, which were constrained by component shortages that prevented Lam and many of its peers from shipping finished gear to customers. Catching up on those shipments will continue to benefit Lam in the near-term; the company projected $5.1 billion in revenue for the December quarter, which was 6% above analysts’ projections.

☆ Stocks making the biggest moves midday: Allstate, AT&T, IBM, Tesla and more
▼ + stars: | 2022-10-20 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +5 min

AT&T – The telecom giant's stock jumped 7% after the company surpassed earnings and revenue estimates for the recent quarter. AT&T's wireless revenue rose 5.6%. Tesla – Shares of electric automaker Tesla fell 6% Thursday, a day after the company reported third-quarter earnings that fell short of Wall Street's expectations for revenue. Freeport McMoRan – Shares of Freeport McMoRan jumped more than 3% after the mining company reported earnings Thursday. The company reported third-quarter earnings per share of $2.36 versus the StreetAccount estimate of $2.19.

☆ 2 takeaways from our daily meeting: Semiconductors, Danaher's earnings beat
▼ + stars: | 2022-10-20 | by ( Krystal Hur | ) 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. Sticking with our semiconductor strategy Semiconductor stocks climbed Thursday on the back of earnings beats from International Business Machines Corp. (IBM) and Lam Research (LRCX), with the broader market also rallying. Regardless, we don't regret our decision to trim our semiconductor stocks earlier this month. 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.

☆ Lam Research warns of up to $2.5 bln revenue hit from U.S. curbs on China exports
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

Oct 19 (Reuters) - Chip-making technology provider Lam Research Corp (LRCX.O) on Wednesday warned of a $2 billion to $2.5 billion revenue hit in 2023 from U.S. curbs on exports of high-end technology shipments to China. Register now for FREE unlimited access to Reuters.com RegisterLam Research, which gets 30% of its business from China, is the latest company to flag a hit from the sales restrictions. read moreLam Research also reported strong first-quarter earnings on Wednesday and gave an upbeat revenue forecast for the current period. The company expects second-quarter revenue between $4.80 billion and $5.40 billion, the midpoint of which is higher than the $4.91 billion estimated by analysts, according to Refinitiv data. Shares of Lam Research had initially risen 4% in extended trading on the earnings report but pared most of the gains after the revenue warning.

☆ Asia hedge fund losses grow in Q3, poised for worst year since 2008
▼ + stars: | 2022-10-19 | by ( Summer Zhen | ) www.reuters.com time to read: +3 min

“It’s a very painful third quarter for (Asia) hedge fund managers’ performance. Repeated lockdowns in many Chinese cities, a risk-off mode ahead of the party congress and geopolitical risks affected market sentiment. The magnitude of central bank policy moves and frequent macro headlines created profitable trading opportunities for macro hedge funds globally, analysts said. The HFRI Asia ex-Japan Index tracks funds that target more than 50% of their investments in the Asia ex-Japan region. Japan-focused hedge funds fared relatively well, with the HFRI Asia index that includes Japan, down just 3.3% in September and 3.9% this year.

☆ Lam Research Adds to Nvidia, Applied Materials Warnings on Chip-Earnings Season
▼ + stars: | 2022-10-19 | by ( Asa Fitch | ) www.wsj.com time to read: 1 min

Chip-tool maker Lam Research warned of a potentially steep drop in sales as the U.S. imposes new restrictions on exports to China, highlighting how the global semiconductor industry’s earnings woes have grown beyond a slump in demand for some consumer electronics. U.S. curbs on exports of some of the most advanced chips to China unveiled less than two weeks ago have triggered a new round of profit warnings from semiconductor businesses and have prompted analysts to cut earnings forecasts for some of the companies designing chips and the tools to produce them.

☆ Tesla’s Apple-sized goals have cash risks
▼ + stars: | 2022-10-19 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

Returning cash to shareholders only works if the Austin, Texas-based company's Apple-sized (AAPL.O) dreams become reality. Tesla’s 17% operating margin beats the gas-guzzler businesses of rivals Ford Motor (F.N) and General Motors (GM.N) — whose EVs are less profitable still. Investors like David Einhorn and Carl Icahn demanded it use its cash pile to buy back sagging shares, and that bet paid off. But Apple started 2013 with $137 billion in cash and marketable securities; Tesla has $21 billion. Tesla delivered 343,830 cars in the quarter, up 42% year-over-year but 6% below the number of cars it manufactured.

☆ Stocks making the biggest moves after hours: Tesla, IBM, Alcoa and more
▼ + stars: | 2022-10-19 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Tesla — Shares dropped 3.7% after the electric vehicle maker reported third-quarter revenue that missed analyst expectations. Tesla reported earnings of $1.05 per share, compared with expectations of 99 cents adjusted earnings per share, according to analysts surveyed by Refinitiv. IBM — Shares jumped 3.9% after IBM beat analyst expectations in its third-quarter earnings results and raised its full-year growth outlook. Alcoa reported a loss of 33 cents per share, compared to expectations of a gain of 8 cents per share, according to consensus estimates on FactSet. The company reported revenue of $2.85 billion, compared with expectations of $2.96 billion.

☆ Morning Bid: Earnings vs Rates
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +5 min

Oct 19 (Reuters) - A look at the day ahead in U.S. and global markets from Mike Dolan. Market tension is building between surprising positivity still coming from the unfolding corporate earnings season and the anxiety in interest rate markets and macro gloom. But earnings may be just a rearview mirror of the economy and the inflation and interest rate backdrop showed little sign of improvement across the western economies. U.S. 10- and 30-year bond yields were now both above 4% this week for the first time in 12 years. Oil prices steadied after Tuesday's slide amid reports U.S. President Joe Biden plans to release more of the Strategic Petroleum Reserve.

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