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Four months ago, China’s leaders announced what seemed like a straightforward and proven plan to recharge the economy: Subsidize consumers who want to replace old cars and household appliances. Only 113,000 cars qualified for trade-in subsidies through June 25 — a blip in a country where monthly sales exceed two million cars. In 2009, the United States, Germany, France, Spain and Austria offered so-called cash for clunkers programs to revive car sales. They paid households to scrap gas guzzlers and replace them with newer cars with better fuel economy. China itself gave extensive tax cuts and subsidies for consumers to buy new cars and household appliances.
Persons: , Dai Yu Locations: Jingdezhen, Jiangxi Province, China, United States, Germany, France, Spain, Austria
Morgan Stanley hiked its price target on Nvidia to $144, implying upside of 16.5%. It also lifted its 12-month price target to $167 from $143, corresponding to 22% upside. Analyst Krisztina Katai stood by her buy rating for the retail giant but upped her price target to $77 from $71. Analyst James Schneider assigned the stock a 12-month price target of $50, which corresponds to a 21% increase from its Friday closing price. — Lisa Kailai Han 5:47 a.m.: Morgan Stanley hikes its Nvidia price target Nvidia should continue rising as its next generation of chips arrives, according to Morgan Stanley.
Persons: Morgan Stanley, Goldman Sachs, Alexander Blostein, Blostein, Lisa Kailai Han, Krisztina Katai, Katai, — Lisa Kailai Han, James Schneider, Schneider, Moore, Joseph Moore, Blackwell, Hopper, Nvidia's, BIRK, ramping, Jay Sole, Fred Imbert Organizations: CNBC, Nvidia, UBS, Exchange, Intercontinental Exchange, Nat Gas, ICE's Energy, Nat, ICE, Deutsche Bank, Walmart Deutsche Bank, Walmart, Verizon, Birkenstock Locations: Friday's, Asia
In a few days, bankrupt Tokyo-based bitcoin exchange Mt. Disbursements will be in a mix of bitcoin and bitcoin cash, an early offshoot of the original cryptocurrency. Gox — short for "Magic: The Gathering Online Exchange" — was once the largest spot bitcoin exchange globally, claiming to handle around 80% of all global dollar trades for bitcoin. Gox users would likely translate to huge sales in bitcoin as investors look to lock in gains. Vijay Ayyar, head of consumer growth for Asia-Pacific at crypto exchange Gemini, said that the overall impact of the Mt.
Persons: Omer Taha Cetin, that's, Disbursements, bitcoin, Gox, , John Glover, Glover, James Butterfill, bitcoin's, Gemini, Lennix Lai, Butterfill, Bitcoin, Jacob Joseph, Joseph, Alex Thorn, Thorn, Vijay Ayyar, Gox disbursement, Ayyar Organizations: Anadolu, Getty, CNBC, bitcoin, Barclays, CoinShares, Gemini, JPMorgan, Arkham Intelligence, Analysts, U.S . Securities, Exchange, Federal Reserve Locations: Tokyo, Gox, Mt, bitcoin, Asia, Pacific
The S & P 500 has yielded an average return of 7.9% since 1928, the year Herbert Hoover was elected. LBJ's presidency was also notable because he chose not to seek reelection in 1968, a year with a modest S & P return of 7.7%. A market correction could be more likely now than it seemed two weeks ago, as suggested by the current pricing of S & P options. Options such as SPDR S & P 500 ETF Trust (SPY) August $535 puts are currently priced around $5.50, about 1% of SPY's price, while S & P 500 5350 puts are around $50. SPY YTD mountain SPDR S & P 500 ETF Trust If a correction does occur, investors could monetize, roll, or spread the hedge.
Persons: Herbert Hoover, Hoover, Carter, George H.W, George H.W . Bush, LBJ's, Trump Organizations: Trump, JFK, FDR, Nvidia, Trust, Democratic National Convention, CNBC, NBC UNIVERSAL Locations: George H.W .
Now he has a marketing job for a solar company that offers flexibility and career mobility. My career has been the wildest ride since I got my solar-installation training just a year ago. AdvertisementI graduated in May 2023 and, after a summer job traveling to Alaska to create educational programs, started job searching in the solar industry in the fall. The solar industry needs everything that any other industry needs, and the growth is happening so fast. When I envision the future of my solar career, it seems like the sky's the limit.
Persons: Aaron Nichols, , Nichols, he's, I've, It's Organizations: Service, North American Board of Certified Energy, , SunCast Locations: Alaska
McDonald's $5 value meal offering could provide a turnaround for the struggling stock, according to Wells Fargo. "Historically, MCD wins when the industry shifts to value," Fadem wrote in a note released Monday. McDonald's competitors took a hit after the company launched the dollar menu — and took back some share after McDonald's removed the Dollar menu, he added. Fadem forecasts the $5 value meal could provide a tailwind of 50 to 100 basis points for McDonalds U.S. comparable same-store sales. Wells Fargo has an overweight rating and $300 price target on shares, implying about 18% upside from Friday's close.
Persons: Wells Fargo, Wells, Zachary Fadem, McDonald's, Fadem, — CNBC's Michael Bloom Organizations: CNBC, McDonalds U.S Locations: Wells Fargo, U.S
Read previewI became a freelance marketing assistant without planning to in 2010 when my husband's military career forced me to quit yet another dream job. As we moved frequently over the previous seven years, I always landed new jobs, but starting over in every town didn't help my career progression. AdvertisementI advise new digital service providers to skip admin services and offer marketing services immediately. Marketing services are also the most flexible. I found that freelancers can hit the upper five figures and into the $100+/hour range by niching into specialized marketing services.
Persons: , I'd, VAs, you've, Emily Reagan Organizations: Service, Oklahoma City, Business, DC, Facebook, Air Force Locations: Washington, DC, Oklahoma
Read previewWhen Justin Shields started the Venice Run Club in August 2020, he wasn't looking for love. Justin and Erin Shields met at Venice Run Club. Related storiesIn an increasingly online world where young people are feeling lonelier than ever, running clubs offer regular, real-life interactions with people with shared interests. Each Venice Run Club session attracts hundreds of runners. Venice Run Club has created plenty of friendships.
Persons: , Justin Shields, Shields, Erin, Justin, Erin Shields, Grace Wilson, Tinder, Eventbrite, it's, Hayden Boles, Aniko, Hayden Boles Boles, Emma Atwell, They've, Atwell, " Atwell, Daniel Belk, Coodown, Bailey Ness, Greyson Tarantino Organizations: Service, Venice Run Club, Business, Venice Run, BI, Cooldown Run, VRC Locations: Venice, Los Angeles, Denver, Colorado, Cooldown, Venice Beach
With Disney shares back under $100 each, we're stepping back in to take advantage of what we see as an enticing risk/reward. DIS YTD mountain Disney YTD A stock trading down to its long-term moving average and trading at a cheap valuation does not mean it's automatically a buy. 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's, we're, it's, Jim Cramer, Jim Organizations: Disney, DIS, CNBC Locations: Parks
Read previewPresident Joe Biden had a rough showing at the presidential debate on Thursday, but Mark Cuban says he'd still hire Biden to run his businesses instead of former President Donald Trump. Morgan asked Cuban if he would employ Biden to run any of his companies, after Cuban said he'd still vote for Biden in spite of that bad debate performance. But while Trump is "obviously a good salesperson," Cuban said that he didn't think he fared well on other fronts. Related stories"I don't know if he is a voracious reader and learner, but I have read about him discussing books he has read," Cuban added. AdvertisementRepresentatives for Biden and Trump did not immediately respond to a request for comment from BI sent outside regular business hours.
Persons: , Joe Biden, Mark Cuban, he'd, Biden, Donald Trump, Piers Morgan, Morgan, Cuban, Trump, — Mark Cuban, I'm, Harris, It's Organizations: Service, Biden, Business, Trump, BI, Democratic Locations: British
Brisbane, Australia CNN —Buying a vape just got harder in Australia with the introduction of some of the world’s toughest anti-vaping laws that limit the sale of vapes with nicotine to pharmacies. From Monday, users will need to present a doctor’s prescription to a pharmacist to buy vapes, and the choice will be limited to three flavors: mint, menthol and tobacco. Dozens of countries have banned disposable vapes, but with the ban on vape sales in shops, service stations and other small retailers, Australia has introduced “world leading” laws, according to the government. Adults will be able to buy vapes in pharmacies, without a prescription – but the devices may be hard to find after some leading pharmacy chains declared they would refuse to stock them. Despite the rising cost of cigarettes, some fear that young vapers – having been locked out of the vape market – will turn to cigarettes to get their nicotine fix.
Persons: It’s, , Mark Butler, Anthony Tassone, Jordon Steele, John, vapers, ’ ” Hester Wilson Organizations: Australia CNN, Pharmacy Guild of Australia, Australia’s Greens Party, Greens, ” Greens, vapes, Royal Australian College of General, ABC, US Food and Drug Administration, FDA, Justice Department Locations: Brisbane, Australia, United States, United Kingdom
Boeing , Spirit AeroSystems — Boeing on Monday said it would buy back fuselage maker Spirit AeroSystems in a $4.7 billion all-stock deal. Boeing shares dipped 0.3%, while Spirit AeroSystems shares popped 4.5%. Verizon — Shares ticked up 0.5% after Goldman Sachs initiated coverage with a buy rating. Verizon shares will rise amid an improving competitive backdrop in the telecommunications industry, according to Goldman Sachs. Intercontinental Exchange — The financial exchange's shares rose 1.4% on the back of a Goldman Sachs upgrade to buy from neutral.
Persons: Kitty, Goldman Sachs, Goldman, , Alex Harring, Sarah Min, Michelle Fox Organizations: UBS, GameStop, Boeing, Verizon, Intercontinental Exchange, Nvidia
Costner’s Costly ‘Horizon’ Bites Box Office Dust
  + stars: | 2024-06-30 | by ( Brooks Barnes | ) www.nytimes.com   time to read: +1 min
“Inside Out 2,” starring a personified Anxiety, continued to resonate with moviegoers as the No. The dread-infused prequel “A Quiet Place: Day One” also struck a cultural nerve, arriving to stronger-than-expected ticket sales. “Inside Out 2” from Pixar was on pace to collect $55 million, for a three-week total of roughly $470 million in the United States and Canada, according to estimates by box office analysts on Saturday. The well-reviewed sequel is nearing $1 billion in worldwide ticket sales. No movie has reached that sales threshold since “Barbie,” which was released in July 2023.
Persons: , Kevin Costner’s, Old, Barbie Organizations: Pixar Locations: North America, United States, Canada
Lockdown was a grill (seller)’s best friendIt’s not a result of Americans cooking outside on grills less. Roy Morchian, owner of American Royal Hardware in Montclair, New Jersey, says grill sales have returned to pre-pandemic levels at the local True Value franchise. Downey sees Home Depot’s grill sales stabilizing now following the lockdown-driven high. Weber Grills are offered for sale at a home improvement store on July 23, 2021 in Palatine, Illinois. Traeger Grills holds demos and activations at Home Depot, Ace Hardware, and specialty retailers across the country.
Persons: Weber, , Brian Bushfield, It’s, Roy Morchian, Paul Glader, Joe Downey, Jessica Hernandez, ” Corey Martin, Traeger’s, Covid, ” Martin, Downey, Scott Olson, Jeremy Andrus, Simeon Siegel, they’re, , Price, Shikhiu Ing, fryer, Andrus, Ayla Dunkley, Dunkley Organizations: CNN, West, Barbecue Association, American, Hardware, Depot Senior Merchant, CNN San Diego Grill, Texas, Grill, Downey, Getty, Weber, Rewards, Depot, BMO Capital Markets, US Department of Agriculture, , , American Farm Bureau Federation Locations: Traqline, San Diego , California, Covid, Montclair , New Jersey, Montclair , NJ, Houston, Palatine , Illinois, Bloomfield , New Jersey, Newark , New Jersey, Pennsylvania
Extended CDK outage brings chaos to car dealers
  + stars: | 2024-06-30 | by ( Samantha Delouya | ) edition.cnn.com   time to read: +4 min
CNN —As the ongoing systems outage at software provider CDK Global stretches into its second week, car dealerships are racking up millions of dollars in losses, according to a new estimate. Piecemeal progressThe outage began last Wednesday after two cyber incidents halted the company’s systems, which provide software to nearly 15,000 car dealerships across North America, according to CDK. “I work at a major body shop, and it has really hurt us,” one worker wrote to CNN about the outage. “15,000 dealerships is an awful lot to have control over when you do the math,” Irvin said of CDK. And after more than a week at home, Phillips’ boss texted him to return to work on Friday.
Persons: “ It’s, , Bernard Irvin, , ” ‘, Norm Phillips, hadn’t, ” Phillips, “ I’ve, CDK, Phillips, ” Phillips wasn’t, ” Irvin, Irvin, texted, “ I’m Organizations: CNN, CDK, Workers, Ford, Anderson Economic, Dealer, Benz, Honda, Ford Bronco Sport, Ford Bronco Locations: Greenville , South Carolina, North America, New Jersey
A GLAAD spokesperson said Friday that the group has not seen donations or corporate support decline this Pride month, though it does not yet have a total tally. Pride Month merchandise is displayed at a Target store on May 31, 2023 in San Francisco, California. A sign disparaging Bud Light beer is seen along a country road on April 21, 2023 in Arco, Idaho. Anheuser-Busch, the brewer of Bud Light has faced backlash after the company sponsored two Instagram posts from a transgender woman. For its part, Bud Light hasn't posted in support of Pride month on its Instagram or X pages this year.
Persons: Stephen J, Cohen, Bud Light, Luke Hartig, Tim Bennett, Bennett, Sarah Kate Ellis, Ellis, JPMorgan Chase, Booking.com, Joe Biden, Justin Sullivan, Bud, Target, Natalie Behring, Kid Rock, Ron DeSantis, influencer Dylan Mulvaney, Bud Light's, Michel Doukeris, Bud Light hasn't, Neil Reid, Reid, Tarang Amin, Tara Dziedzic Organizations: Getty, Gravity Research, D.C, Fortune, Tribury Productions, Procter & Gamble, GLAAD, Stonewall, Monument Visitor Center, New, Google, JPMorgan, Target, Pride Month, Anheuser, Busch, Busch InBev, Florida Gov, Constellation Brands, Modelo, InBev, UFC, RBC, University of Toledo, Fox News, The New York Stock Exchange, NYSE Locations: Louisville , Kentucky, Washington, New York City, San Francisco , California, Arco , Idaho, U.S, RBC Europe
Morgan Stanley has resumed coverage of Hong Kong-listed Geely with an overweight rating on expectations the Chinese automaker can weather macro and industry uncertainties. "We see Geely as a beneficiary of market consolidation," Morgan Stanley Asia equity analyst Tim Hsiao and a team said in a June 25 report that resumed coverage of the stock. Hangzhou-based Geely entered China's auto industry in 1997 and is known for acquiring Volvo in 2010. But the company raised the share of its new energy vehicles to 32% so far this year, higher than peers such as Great Wall Motor, for which the share is 23%, the Morgan Stanley analysts pointed out on Tuesday. The Morgan Stanley analysts on Tuesday set a price target of HK$11.20 ($1.43), about 27% above where shares closed Friday.
Persons: Morgan Stanley, Tim Hsiao, Geely, PHEV, Morgan Stanley's, BYD, bode Organizations: U.S, European Union, Lynk, Volvo, HK Locations: Hong Kong, Morgan Stanley Asia, Hangzhou, New York, China, EVs
Competition may have died down but the original smartphone wars were so intense for Steve Jobs he once declared that he'd start a "thermonuclear war." Smartphone wars in the AI eraThe smartphone market has been lagging. The company will be banking on Apple Intelligence being a hit with consumers, potentially revitalizing sales in markets like China. Samsung Galaxy S24 lineup. SamsungThe South Korean tech giant must be hoping to regain its crown as king of the smartphone market.
Persons: , Steve Jobs, Jobs, Walter Isaacson, Justin Sullivan, Assurant, Tim Cook, Siri, Apple, OpenAI, iPhones, Wang Gang, it's Organizations: Service, Apple, Samsung, Business, Android, Google, Samsung Galaxy, Samsung's, Apple Intelligence, Worldwide, Huawei, Project Astra, Galaxy, South, IDC Locations: China, Paris
AdvertisementBut the process sparked an idea: Real-estate brokers might be stars who are just as big as the homes they sell. Real estate was not an easy sell to TV executives at firstThe cast of Barbato and Bailey's new show, "Owning Manhattan," on Netflix. For "Owning Manhattan," the duo said they filmed 20 different sales listings represented by Serhant and his fellow brokers, but only seven resulted in deals. In the first episode of "Owning Manhattan," Serhant shows off a listing atop the world's tallest residence, the three-story penthouse at Central Park Tower, asking $195 million. Viewers will follow Serhant in "Owning Manhattan" as he attempts to make his namesake brokerage firm the No.
Persons: , Fenton Bailey, Randy Barbato, Debby Berg, Berg, Barbato, Bailey, Tracy Tutor, Altman, Ryan Serhant, Theo Wargo, he's, Gore, That's, dealmaking, Serhant, We're, They're Organizations: Service, Business, Hollywood, Los Angeles, Bravo, Netflix, Gore Vidal's, Tower Locations: Angeles, Los Angeles, New York City, LA, Brentwood, Beverly Hills, New York, Miami, San Francisco, Manhattan, Los Angeles and New York, Gore Vidal's Los Angeles, Real
Photo: Bart Vandever for CNBC Make ItWhy Costco means so much to meCostco was a shopping staple for my family when I was growing up. Photo: Bart Vandever for CNBC Make ItI like to lie on my couch and lose myself in classical music on my piano. Photo: Bart Vandever for CNBC Make ItIn woven side baskets, I stash my Costco pajamas, keeping everything neat and organized. An outdoor space with possibility The outdoor space isn't fully furnished yet. I'm very excited to use my outdoor space and my paddle board this summer.
Persons: Bart Vandever, Costco, Costco Claudia, I've, they've, I'm Organizations: Costco, CNBC, Kirkland Locations: San Francisco Bay, Fremont , California
New York CNN —“Inside Out 2” has become the fastest-ever animated film to surpass $1 billion globally, shooting past the box office milestone this weekend, just 19 days after its release. “The film’s remarkable success is a testament not only to the incredible creativity of the Pixar team but an example of moviegoing at its very best.”The resounding success of “Inside Out 2” has jolted a sluggish 2024 box office. The movie is the highest grossing film of the year, and the first to pass $1 billion since “Barbie,” which came out last July. Daniel Loria, editorial director at Box Office Pro, which collects sales and showtime data from thousands of movie theaters across the United States, projects this year will see an overall domestic box office total between $8.1 billion and $8.4 billion, down from 2023’s total of more than $9 billion, the highest since the pandemic. Another surprise hit or two, and we may get a lot closer to matching that $9 billion than we all expected coming into the year.”
Persons: “ We’re, Tony Chambers, we’ve, , , Paul Dergarabedian, “ Barbie, Dory, Daniel Loria Organizations: New, New York CNN, Pixar, Disney, Box, showtime Locations: New York, United States
The Nasdaq was the big winner of the second quarter, adding 8.26% over the past three months thanks to an artificial intelligence-powered tech rally. Best Performers NVDA YTD mountain Nvidia YTD Nvidia continued to be the top-performing stock in the portfolio for the second quarter in a row, gaining 36.73%. AAPL YTD mountain Apple YTD The second big winner was Apple , which rose 22.82% in Q2. Worst Performers EL YTD mountain Estee Lauder YTD Estee Lauder was the worst name of the second quarter for the Club portfolio, losing 30.98%. DIS YTD mountain Disney YTD The second worst performer was Disney , which dropped 18.85% in April through June.
Persons: Dow, Blackwell, Jensen Huang, Lauder YTD Estee Lauder, Disney, Nelson Peltz, Disney's, Decker, Stanley Black, Jim Cramer's, Jim Cramer, Jim, Eduardo MunozAlvarez Organizations: Dow Jones, Nasdaq, CNBC, Club, Nvidia, Management, Apple, Apple Intelligence, iPhone, Broadcom, Investors, Asia Travel, DIS, Disney, Federal, Jim Cramer's Charitable, Corbis, Getty Locations: U.S, China, Asia, India, Square
At a time when the box office is starved for content and audiences seem pickier than ever, Fathom Events is posting record revenue gains. In 2023, Fathom generated $100 million at the box office, a 116% increase over 2019 levels and its highest-grossing year ever. "These audiences are getting to enjoy classic films, either for the first time or for the first time, in a new way. Last year, the film extended its release to five days and snared $7.1 million, making it the highest-grossing classic film release in Fathom history. "They worked out the licensing and they created the marketing behind re-releasing these classic films that, you know, we just can't do ourselves.
Persons: Cinemark, Andrea Bocelli, Paul Dergarabedian, Jesus, Brock Bagby, Jordan Hohman, Oz, Alfred Hitchcock's, Bagby, Fathom, Ray Nutt, Hohman Organizations: AMC, Hollywood's, Fathom, B, Phoenix Theatres, Ghibli, Dallas Locations: Comscore
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewLiz Wilcox brings in, on average, $40,000 a month from her email marketing business — and she's not logging a lot of hours. Her business brought in five figures while she competed on the reality TV show without access to the outside world. AdvertisementThanks to the way she's set up her business, "I really could disappear for a month," said Wilcox. Because almost every business, if they're doing it right, is doing email marketing."
Persons: , Liz Wilcox, I've, Wilcox, Burger King, We've, Liz, she'd, we'd Organizations: Service, Business, BI Locations: Destin , Florida
Here are three attractive dividend stocks, according to Wall Street's top pros on TipRanks, a platform that ranks analysts based on their past performance. Darden RestaurantsThe first dividend stock is Darden Restaurants (DRI), which operates several popular brands in full-service dining, including Olive Garden, LongHorn Steakhouse and Yard House. While Darden exceeded analysts' earnings expectations, its sales slightly missed the Street's consensus amid increased discounting by rivals. Moreover, the company announced a dividend hike of nearly 7%, bringing the quarterly dividend to $1.40 per share. (See International Seaways' Stock Charts on TipRanks)CitigroupFinally, let's discuss this week's third dividend stock, banking giant Citigroup (C).
Persons: Wall, Darden, Peter Saleh, Saleh, TipRanks, Benjamin Nolan, Nolan, INSW, Goldman Sachs, Richard Ramsden, Ramsden Organizations: Darden, Olive Garden, LongHorn, Citigroup, Management, Citi, Services Locations: Olive, Rohnert Park , California
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