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☆ Apple is a great company – but not much is driving the tech giant toward a $3 trillion valuation, analyst says
▼ + stars: | 2023-06-29 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +2 min

Apple's stock price has surged in 2023, putting the company on the verge of a $3 trillion valuation. "While Apple is a great company, there's not a ton of fundamentals driving this right now," Cleo Capital managing director Sarah Kunst told CNBC's "Last Call" Wednesday. she added, referring to the Vision Pro mixed reality headset Apple launched at the start of June. The tech giant's shares have surged 46% year-to-date, raising its total market capitalization to $2.98 trillion. But some on Wall Street are more bullish on the tech giant, with both Wedbush and Fairlead Strategies recently forecasting its valuation will hit $4 trillion around the end of next year.

Persons: Cleo Capital's Sarah Kunst, —, there's, Cleo, Sarah Kunst, CNBC's, Steve Weiss Organizations: Service, Apple, Cleo Capital, Vision, Hills, Big Tech, Federal, Nasdaq

☆ There's not a ton of fundamentals driving Apple's climb to $3 trillion right now: Cleo's Sarah Kunst
▼ + stars: | 2023-06-28 | 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 EmailThere's not a ton of fundamentals driving Apple's climb to $3 trillion right now: Cleo's Sarah KunstDan Ives, Wedbush managing director, and Sarah Kunst, Cleo Capital managing director, join 'Last Call' to talk Apple inching towards being the first $3 trillion company in history.

Persons: Sarah Kunst Dan Ives, Wedbush, Sarah Kunst Organizations: Cleo Capital, Apple

☆ 'Fundamentals still matter': A portfolio manager at a firm managing $17 billion warns stocks are due to sink 15% as AI hype fuels the current rally and drowns out recession alarm bells
▼ + stars: | 2023-06-17 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Stocks are once again in a bull market, with the S&P 500 now up more than 20% since October's lows. Nearly all of the recent rally can also be attributed to the index's top 10 stocks, he said. "During the late-90s tech bubble, over one-third of returns came from these mega-cap stocks," Wool said. "In the recent bull run, by contrast, almost the entire market return was accounted for by just ten companies' performance." A 15% decline would put the S&P 500 at 3,800.

Persons: Stocks, Rayliant's Phillip Wool, Wool, Phillip Wool, Solita, Louis, …, Lauren Goodwin, Morgan Stanley's Mike Wilson, it's, Morgan Stanley's Wilson, Piper Sandler's Michael Kantrowitz Organizations: UBS, LPL Financial, Conference, Federal Reserve Bank of St, Louis The Conference, Wool, Treasury, Federal Reserve, New York Life Investments, CME Group

It overtook Europe's STOXX 600 (.STOXX), which is up 9%, in late May for the first time this year. In dollar terms, the STOXX 600 (.STOXXD) is still lagging, having gained 11.3% in 2023, while the euro is up 1.1%. "Relative to the U.S., European equities are looking less interesting and attractive," said Bernie Ahkong, co-chief investment officer at fund manager UBS O'Connor Global Multi-strategy Alpha. The euro zone economy was in technical recession in the first quarter, data from European statistics agency Eurostat showed last week. "But Europe looks even more unattractive than the U.S., because the temporary good data from Europe is really going to turn."

Persons: Europe's, Bernie Ahkong, UBS O'Connor, Ahkong, Geoffroy Goenen, Candriam, Graham Secker, Morgan Stanley, Hani Redha, Alex Richardson Organizations: UBS, UBS O'Connor Global, Alpha, U.S, Bank of America's, Eurostat, Barclays, Thomson Locations: U.S, Europe, China, PineBridge, United States

HONG KONG, June 16 (Reuters) - China's Ministry of Foreign Affairs in Hong Kong said resolutions passed by the European Parliament on Thursday related to the Chinese controlled territory were a "despicable act" and "trampled" on the principles of international law. The European Parliament's resolution titled "The deterioration of fundamental freedoms in Hong Kong, notably the case of Jimmy Lai" urged Hong Kong's government to release and drop charges against the pro-democracy tycoon and other activists. It also called for the European Council to introduce "targeted sanctions" against city leader John Lee and other officials "responsible for the ongoing crackdown on human rights in Hong Kong". Government officials in Beijing and Hong Kong say that the law only targets a small number of "troublemakers" who threaten national security and that the rights and freedoms of ordinary Hong Kong people are protected. Lai, who is in prison, is facing four charges under the security law and a colonial era sedition law.

Persons: Jimmy Lai, Hong, John Lee, Lee, Lai, Lai's, Sebastien, Farah Master, Jessie Pang, Anne Marie Roantree, Gerry Doyle Organizations: China's Ministry of Foreign Affairs, European Council, United, Government, National Security Law, Thomson Locations: HONG KONG, Hong Kong, United States, Beijing, China

☆ A fund manager at a $3 billion firm who looks for companies expected to grow their market share lists his top 10 stocks and the key variables he looks for when making long-term bets
▼ + stars: | 2023-06-15 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Brian Macauley looks for companies operating in large markets that can grow their market share. This year, which direction the stock market could go has been a point of contention. His sweet spot is smaller companies operating within a large market that have the potential to go from a 5% market share to 25%. An attractive growth opportunity; his picks typically have a small market share in a large market and are well-positioned to gain market share. CarMax (KMX) is another example of a business expected to grow its market share within the used car sector.

Persons: Brian Macauley, Lauren Goodwin, Morgan Stanley, Hennessy, Macauley, Sunbelt Organizations: Hennessy Funds, Morningstar, Sunbelt Rentals, Fund Locations: North America

☆ A brilliant cosmic burst 100 times as bright as our galaxy came from 2 black holes circling each other, study finds
▼ + stars: | 2023-06-13 | by ( Chris Panella | Jessica Orwig | ) www.businessinsider.com time to read: +5 min

Huge cosmic bursts are coming from two black holes circling each other in a distant galaxy. In this case, the flare came from a binary system consisting of two black holes trapped in a rapid dance. A cosmic burst 100 times brighter than our galaxyThe recorded burst, which astronomers observed in February 2022, occurred when the smaller black hole crashed into a disk of gas surrounding the larger black hole, the study's scientists said. Up to this point, its presence was only predicted through observations of its gravitational influence on the larger black hole. An illustration of the binary black hole system, OJ 287, showing the massive black hole surrounded by an accretion disk.

Persons: —, Mauri Valtonen, Valtonen, Swift, Cruz, they've Organizations: Service, Royal Astronomical Society, ESO, ESA, Hubble, Tata Institute of Fundamental Research, NASA, OJ, University of Turku Locations: OJ287

☆ Goldman Sachs analyzed 1,246 hedge and mutual funds with a combined $4.8 trillion in holdings. Here are the 9 stocks they agree are worth buying.
▼ + stars: | 2023-06-11 | by ( Mark Reeth | ) www.businessinsider.com time to read: +5 min

But hedge funds and mutual funds have lagged the broader market this year. Although hedge funds and mutual funds may be trailing the market for the moment, don't count them out just yet. Here's what hedge funds and mutual funds are buying, and why investors may want to steal a page from their playbook. Beyond financials and tech, hedge funds and mutual funds moved in tandem across the rest of the market, turning their attention to defensive equities. Among all of those funds, Goldman Sachs found there were nine stocks that they deemed "shared favorites" between two different Goldman Sachs indexes.

Persons: Goldman Sachs, David Kostin, Kostin, Russell, Consumer Staples Organizations: Apple, Microsoft, Nvidia, Tesla, Tech, Mutual, Mastercard, Visa, Services, Consumer, Utilities, Communication Services, Healthcare, Mutual Fund Locations: financials

Experts have mixed reactions on whether the budget will meet IMF requirements and the impact on the economy. The ‘No new Taxes on Industry’ claim is belied by increase in super tax and that too in not a fully progressive way. Will retailers and the agri sectors that together contribute 40% contribute more than 2% as a result of the budget? SHAHBAZ ASHRAF, CHIEF INVESTMENT OFFICER AT FRIM VENTURES“It is surely not a budget that the IMF would approve of. "The regional energy price budget, which has built in cross subsidies, general collection and distribution losses is something the export industry cannot sustain."

Persons: GHIAS KHAN, EHSAN MALIK, SHAHID HABIB, ARIF HABIB, ZULQARNAIN, ABDUL ALEEM, IRFAN IQBAL SHEIKH, MUSTAFA PASHA, SHAHBAZ ASHRAF, they've, There's, ” FAHAD RAUF, ISMAIL IQBAL, GOHAR EJAZ, Ariba Shahid, Jonathan Oatis, Nick Zieminski Organizations: International Monetary Fund, IMF, Pakistan, Reuters, FX, ENGRO CORP, OF, PAKISTAN BUSINESS, Industry, PAKISTAN, Company, FEDERATION OF PAKISTAN, OF COMMERCE, PKR, IN, MILLS ASSOCIATION, Thomson Locations: KARACHI, Pakistan, PAKISTAN, Karachi

☆ Webb telescope captures galaxy 20 million light-years away
▼ + stars: | 2023-06-06 | by ( Jackie Wattles | ) edition.cnn.com time to read: +4 min

CNN —The James Webb Space Telescope set its sights on a galaxy 20 million light-years away, capturing a dazzling star-forming galaxy in images streaked with the signature of passing asteroids. A bright band in the upper left corner of the images shows the bright, bar-shaped center of the galaxy, according to a NASA news release. The NGC 5068 galaxy is a barred spiral galaxy, the same type as our home Milky Way. These new snapshots of NGC 5068 add to a growing repository of data on areas of the observable universe where stars are born. This image shows the NGC 5068 galaxy as captured by the James Webb Space Telescope's MIRI instrument.

Persons: James Webb, Webb Organizations: CNN, NASA, Hubble, ESA, CSA, Phantom, European Space Agency, Canadian Space Agency Locations: Webb, Chile, MIRI

☆ Morningstar says buy these 10 cheap stocks that will generate steady cash flows well into the future
▼ + stars: | 2023-06-04 | by ( Akin Oyedele | ) www.businessinsider.com time to read: +2 min

At the halfway point of 2023, Morningstar has updated its list of the best stocks to buy now. Amid the uncertainty, stock pickers should find names that still offer bargain prices, and that provide consistency in terms of fundamentals and cash flows. That's according to the research firm Morningstar, which compiled a list of 10 stocks that fit the bill — and that investors should buy now. "We believe the best companies have predictable cash flows and are run by management teams that have a history of making smart capital-allocation decisions," wrote Morningstar's Susan Dziubinski in a note on Wednesday. The stocks are listed below in descending order of their price-to-fair-value ratios, a metric that accounts for a company's competitive advantage, its cash-generating potential, and the level of uncertainty about its cash flows.

Persons: Morningstar, Wells, Susan Dziubinski Organizations: Comcast, Taiwan Semiconductor Locations: Wells Fargo

☆ Using frozen Russian money for Kyiv is barmy
▼ + stars: | 2023-05-25 | by ( ) www.reuters.com time to read: +2 min

European officials are still discussing options to use the proceeds of Russia’s frozen funds to help Ukraine. Yet funnelling the money to the war-torn country, which looks justifiable on moral grounds, would set a bad precedent. Euroclear, the Belgium-based settlement house, is sitting on some 180 billion euros of Russian central bank reserves – part of the 280 billion euros Ukraine’s allies froze last year after Russia’s invasion. The clearing firm also holds another 17 billion euros from sanctioned Russian individuals. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ BlackRock’s bond guru has a new ETF aiming for a 7% yield
▼ + stars: | 2023-05-23 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

BlackRock's Flexible Income ETF (BINC) began trading Tuesday and is managed by Rick Rieder, the firm's chief investment officer of global fixed income. The actively managed fund has a net expense ratio of 0.40%. "For the average investor, it's pretty hard to differentiate in fixed income. The fund holds fixed income from multiple sectors, including high-yield bonds, European investment-grade debt and emerging market debt. The BlackRock Large Cap Value ETF (BLCV) is managed by Tony DeSpirito, the firm's global chief investment officer of fundamental equities.

Persons: Rick Rieder, Rieder, Rachel Aguirre, Tony DeSpirito Organizations: BlackRock, Federal Reserve Locations: U.S

☆ Guatemala's presidential frontrunner thrown off ballot, promises appeal
▼ + stars: | 2023-05-20 | by ( Sofia Menchu | ) www.reuters.com time to read: +2 min

He accused the court of kicking him off the ballot because he refused to be an "ally of corruption." In a recent poll, Pineda led all candidates with 23% support, emerging as the favorite to replace Giammattei. Critics accuse Giammattei of unprecedented repression of judges, prosecutors, journalists and activists, many of whom have fled the country. Pineda had been a CAMBIO party presidential candidate before switching to PC earlier this year, due to clashes with the Baldizon family. Other presidential hopefuls, leftist Thelma Cabrera and conservative Roberto Arzu, were previously forced out of the race.

☆ In a new hacking crime wave, much more personal data is being held hostage
▼ + stars: | 2023-05-07 | by ( Kevin Travers | ) www.cnbc.com time to read: +5 min

Gorodenkoff | iStock | Getty ImagesThe cybersecurity world faces new threats beyond targeted ransomware attacks, according to experts at the recent RSA cybersecurity industry conference in San Francisco. McMann said hackers are now focusing on stealing customer or employee data and then threatening to leak it publicly. At the end of March, OpenAI documented a data leak in an open-source data provider that made it possible to see personal AI chat histories, payment information, and addresses. The team patched the leak in hours, but McMann said once data is out there, hackers can use it. "For example, the LastPass breach saw one of four key individuals targeted on their personal computer, through a personal public IP address getting in through an unpatched solution," he said.

☆ Fact Check-German judges in court cases did not rule on whether measles virus exists
▼ + stars: | 2023-05-05 | by ( Reuters Fact Check | ) www.reuters.com time to read: +5 min

Judges presiding over a German court case between 2013 and 2016 involving the measles virus settled a civil dispute about a promised payment and did not rule on the existence of the virus itself, contrary to social media posts falsely claiming the courts decided the virus does not exist. However, judges presiding over the case and subsequent appeals to which the articles refer did not rule on the existence of the measles virus, and expressly said this in court. Dr. David Bardens, a medical student, responded to Lanka’s measles virus challenge on Jan. 31, 2012. He submitted six studies (see citations in clause 21 here) which, Bardens said, provided Lanka with proof that the measles virus exists, and of its size. They did not rule on the existence or non-existence of the measles virus.

☆ Opinion | Dianne Feinstein Has to Act
▼ + stars: | 2023-05-05 | by ( The Editorial Board | ) www.nytimes.com time to read: +2 min

Without Senator Dianne Feinstein, there might never have been an assault weapons ban in 1994. Or the Gun-Free Schools Act of 1994. Her absence is a failure that deprives American voters of full representation on legislation and appointments that will affect them for decades to come. (Proxy voting is allowed in the committee, but a proxy cannot be the decisive vote if the committee is otherwise evenly divided, as it often is.) Ms. Feinstein offered to step away from the committee, but Republican senators blocked any effort at appointing a temporary replacement.

☆ Opinion | Biden Can Close the Legal Black Hole at Guantánamo
▼ + stars: | 2023-04-29 | by ( The Editorial Board | ) www.nytimes.com time to read: +2 min

Last week, Said bin Brahim bin Umran Bakush was released from detention at Guantánamo Bay, Cuba, and returned to Algeria, his home country. Mr. Biden wisely avoided the kind of highly public pledges to close down the prison that President Barack Obama made and could not keep. Clearing out the remaining prisoners requires cutting through a tangle of laws, policies, procedures and bureaucratic secrecy. Mr. Biden can use his authority to order the Departments of Defense, Justice and State, the intelligence agencies and other agencies involved to coordinate their efforts and direct their resources to make it happen, as quickly as possible. As long as there are people held in detention at Guantánamo, America’s condemnations of brutal detention centers in China and Syria will ring hollow.

☆ Cruise lines benefiting from consumer shift to experiential spending, says JPMorgan's Matt Boss
▼ + stars: | 2023-04-28 | 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 EmailCruise lines benefiting from consumer shift to experiential spending, says JPMorgan's Matt BossJPMorgan's Matt Boss joins 'Halftime Report' to discuss the return of fundamentals in the cruise lines space, the return to experiential spending, and cruises appealing to the consumer desire for value and convenience.

Low and stable inflation is good for markets and the economy, so central banks had to show their seriousness on inflation, Tannenbaum added. Central banks softened rate rises with communication that was mindful of instability risks, showing reassuring "humility", said Perkins. "The bank resolution framework created after the great financial crisis," said Francesco Papadia, senior fellow at Bruegel and former ECB director general for market operations, "is proving difficult to implement." Reuters Graphics4/ UNITED WE STANDAfter CS's rescue, the Fed and other big central banks supported market liquidity with dollar swap lines. Amundi's Pradhan said the "case by case" central bank responses to individual lenders failing in March exposed the lack of a coordinated bank resolution system.

☆ Florida Governor Desantis signs 6-week abortion ban law
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +4 min

"We are proud to support life and family in the state of Florida," DeSantis said in a statement. A Reuters/Ipsos poll completed on Wednesday found that about 50% of Americans strongly or somewhat oppose a national six-week abortion ban, including 44% of Republicans. The fate of the ban will depend on the outcome of a court challenge to the state's 15-week abortion ban, which abortion providers have argued violates the state constitutional right to privacy. If the Florida Supreme Court rules that the 15-week ban is constitutional, the six-week ban would take effect 30 days later. Patients from across the U.S. Southeast have been traveling to Florida to end their pregnancies since the U.S. Supreme Court gutted federal abortion rights.

☆ Florida lawmakers approve 6-week abortion ban, sending bill to DeSantis for signature
▼ + stars: | 2023-04-13 | by ( Gabriella Borter | Thomson Reuters | Gabriella Borter Is A Reporter On The U.S. National Affairs Team | ) www.reuters.com time to read: +3 min

April 13 (Reuters) - Florida's Republican-led House of Representatives on Thursday gave final approval to a six-week abortion ban, setting the stage for abortion access to be drastically curtailed in the state and across the U.S. South. Lawmakers in the Florida House approved the ban on abortions after six weeks of pregnancy in a 70-40 vote. A Reuters/Ipsos poll completed on Wednesday found that about 50% of Americans strongly or somewhat oppose a national six-week abortion ban, including 44% of Republicans. The fate of the ban will depend on the outcome of a court challenge to the state's 15-week abortion ban, which abortion providers have argued violates the state constitutional right to privacy. If the Florida Supreme Court rules that the 15-week ban is constitutional, the six-week ban would take effect 30 days later.

☆ U.S. House to vote on bill to address potential Huawei, ZTE threats
▼ + stars: | 2023-04-11 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, April 11 (Reuters) - The House of Representatives is set to vote next week on a bill to crack down on Chinese telecommunications companies Huawei and ZTE Corp (000063.SZ) that have been deemed security threats by the U.S. government. The legislation would also require publicly traded companies to disclose whether they have contracted to use Huawei or ZTE or services covered under the bill. The Federal Communications Commission in November banned approvals of new telecommunications equipment from Huawei and ZTE, saying they pose "an unacceptable risk" to U.S. national security. Washington has for years pressured U.S. allies not to use Huawei or ZTE equipment from 5G networks or remove gear from existing networks. The FCC designated Huawei and ZTE as threats, requiring U.S. companies to remove their gear or be frozen out of an $8.3 billion government fund to purchase new equipment.

☆ A stock trader who's returned 2,700% in the last 3 years shares the 3 indicators he uses as his guides to buy and sell
▼ + stars: | 2023-04-08 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

He notes the price points on limit orders from the level 2 data table. But all of the education couldn't have prepared him for the stress of being a stock trader who couldn't afford to lose on his bets. It shows limit orders that have been placed at certain price points. Price points with large order sizes on the "bids" could indicate that there is potential support in that area. Since other traders also review this table, it could become a self-fulfilling prophecy by which many traders act on these price points.

☆ Rob Arnott pioneered a stock investing technique that exploded into a trillion-dollar industry. He presents a new approach to help everyday investors beat the market, even in crises.
▼ + stars: | 2023-04-06 | by ( Marley Jay | ) www.businessinsider.com time to read: +5 min

Rob Arnott of Research Affiliates pioneered "smart beta" investing, which has gone global. Arnott and his firm say they've created a better way to index stocks than market cap weighting. Indexes have become the stock market's North Star, as passive investing turned into a global investment trend over the last decade. Meanwhile, Research Affiliates itself has grown to advise on $141 billion in wealth by the end of 2022. Arnott and his team at Research Affiliates suggest looking at the economic footprint of companies instead of their market capitalization.

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