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☆ Wall Street extends rally, powered by tech bounce
▼ + stars: | 2023-01-23 | by ( Stephen Culp | ) www.reuters.com time to read: +5 min

All three major stock indexes extended Friday's gains, with the tech-heavy Nasdaq leading the pack, boosted by semiconductor shares (.SOX). Of the 11 major S&P 500 sectors, all but energy (.SPNY) ended green, with tech shares (.SPLRCT) enjoying the largest percentage gain, up 2.3% on the session. The fourth-quarter reporting season has shifted into overdrive, with 57 of the companies in the S&P 500 having posted results. Analysts now see S&P 500 fourth-quarter earnings, on aggregate, dropping 3% year-on-year, nearly twice as steep as the 1.6% annual drop seen at the beginning of the year, per Refinitiv. The S&P 500 posted 11 new 52-week highs and no new lows; the Nasdaq Composite recorded 82 new highs and 19 new lows.

☆ Wall Street surges, powered by tech rebound
▼ + stars: | 2023-01-23 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

"No one wants to be watching from the sideline with a bunch a cash as the market gets away from them." All 11 major sectors in the S&P 500 were higher, with tech (.SPLRCT) up the most, jumping 2.8%. Fourth-quarter reporting season has shifted into overdrive, with 57 of the companies in the S&P 500 having posted results. Of those, 63% have delivered better than expected earnings, according to Refinitiv. The S&P 500 posted 11 new 52-week highs and no new lows; the Nasdaq Composite recorded 66 new highs and 14 new lows.

☆ Did the economy end 2022 with a bang or a whimper?
▼ + stars: | 2023-01-22 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +7 min

But the United States economy still seems to be chugging along just fine after experiencing a hiccup in the first half of 2022. Despite worries about weaker consumer spending during the holidays, economists are forecasting solid growth for the fourth quarter. Yearning for earningsMore blue chip companies will report fourth quarter results (and perhaps give guidance about the first quarter of 2023 and beyond) this week. But according to FactSet senior earnings analyst John Butters, earnings for the tech sector are expected to fall nearly 10% in the fourth quarter compared to the fourth quarter of 2021. Verizon (VZ), Johnson & Johnson (JNJ), Travelers (TRV), 3M (MMM), Boeing (BA), Dow (DOW), Visa (V), Chevron (CVX) and American Express (AXP).

☆ Get ready for a deluge of data next week that will shape the Fed's next moves
▼ + stars: | 2023-01-21 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Within the portfolio, we'll get the latest earnings from Danaher (DHR), Halliburton (HAL), and Johnson & Johnson (JNJ) on Tuesday before the opening bell. While the results will be important as always, we are most interested in the earnings call with analysts and investors. Housing Starts fell 1.4% in December to a seasonally adjusted annual rate of 1.38 million, slightly above the 1.36 million expected. Building permits dropped 1.6% in December to a seasonally adjusted annual rate of 1.33 million, below expectations of 1.37 million. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Stocks making the biggest moves premarket: Tesla, Nutanix, Meta and more
▼ + stars: | 2022-12-23 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines before the bell:Tesla (TSLA) – Tesla CEO Elon Musk said he would refrain from selling any more Tesla stock for 18 to 24 months. Tesla gained 1.2% in the premarket. Nutanix (NTNX) – Nutanix tumbled 16.6% in the premarket following a report that Hewlett Packard Enterprise (HPE) has ended talks to acquire the cloud computing company. Meta Platforms (META) – Meta and users of its Facebook platform settled a privacy class action lawsuit, with Meta agreeing to pay $725 million. Oilfield services stocks – Halliburton (HAL) gained 1.4% in the premarket, with Schlumberger (SLB) up 1.3% and Baker Hughes (BKR) rising 1%.

☆ The best food marketing stunts of the year
▼ + stars: | 2022-12-23 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +10 min

“The Big Cheez-It Tostada and Big Cheez-It Crunchwrap are in such Big demand that our limited offer is no longer available,” the chain said. Diane Bondareff/AP Images for Fancy FeastOver the summer, Fancy Feast invited people to answer the question: What does cat food taste like? The restaurant dishes drew inspiration from Fancy Feast Medleys, cat food that is itself inspired by human food like salmon primavera and turkey florentine. The restaurant’s menu was created by Amanda Hassner, in-house chef for Fancy Feast, as well as restaurateur Cesare Casella, a Michelin star winner, according to a Fancy Feast press release. Papa JohnsAs a permanent addition to the Papa Johns menu, the no-crust, toppings-only Papa Bowls are technically not a stunt.

☆ Premarket stocks: Japan just delivered a lump of coal to investors across the globe
▼ + stars: | 2022-12-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

A surprise announcement from the Bank of Japan sent investors spinning and global markets reeling on Tuesday. The country’s central bank signaled that it would reverse two decades of policy precedent and begin to move away from loose monetary policy intended to keep wages and prices high. The Japanese Central Bank loosened the yield on its 10-year government bonds from 0.25% to 0.5%. The central bank said that inflation expectations have risen. Japan’s is the last major central bank to keep rates negative and this signals that it could be shifting its stance.

☆ 3M to end 'forever chemicals' output at cost of up to $2.3 billion
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

Perfluoralkyl and polyfluoroalkyl substances (PFAS) do not break down quickly and have in recent years been found in dangerous concentrations in drinking water, soils and foods. Pressure to stop producing the chemicals has also increased, with investors managing $8 trillion in assets earlier this year writing to 54 companies urging them to phase out their use. 3M expects related total pre-tax charges of about $1.3 billion to $2.3 billion over the course of its PFAS exit. In the fourth quarter, it expects to take an estimated pre-tax charge between $0.7 billion and $1.0 billion, primarily non-cash and related to asset impairments. In August, the Biden administration said it will propose designating certain forever chemicals as hazardous substances under the U.S. Superfund program.

☆ 3M will stop making hazardous ‘forever chemicals’ starting in 2025
▼ + stars: | 2022-12-20 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —3M, the conglomerate behind Post-It notes and Scotch tape, will stop making controversial per- and polyfluoroalkyl substances (PFAS) by the end of 2025. The chemicals, commonly known as “forever chemicals,” are found in hundreds of household items and used to make coatings and products that can repel water, grease, heat and oil. Over the past decade, chemical manufacturers have voluntarily stopped producing two of the most commonly used forever chemicals, including PFOS and PFOA. At the federal level, the US Food and Drug Administration phased out the use of certain PFAS chemicals in 2016. The FDA and manufacturers agreed in 2020 to phase out some PFAS chemicals from food packaging and other items that came into contact with food.

☆ Jim Cramer's top 10 things to watch in the market Tuesday: Wells Fargo, 3M, Meta
▼ + stars: | 2022-12-20 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

Wells Fargo (WFC) agrees to a $3.7 billion settlement with the government's Consumer Financial Protection Bureau (CFPB) over consumer abuses. Wells Fargo analysts believe an ESPN/ABC spinoff from Club stock Disney (DIS) is a "reasonably probable event" late next year. American (AAL) and other airlines saw price target cuts on Wall Street. Barclays raises price target on Merck (MRK) to $128 per share from $110 and keeps overweight (buy) rating. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ 3M to stop making 'forever chemicals', to take up to $2.3 bln charge
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

The per- and polyfluoroalkyl substances are known as forever chemicals because the substances do not break down quickly and have in recent years been found in dangerous concentrations in drinking water, soils and foods across the country. Last month, 3M and DuPont de Nemours Inc (DD.N) were among several companies to be sued by California's attorney general to recover clean-up costs. The company expects to incur related total pre-tax charges of about $1.3 billion to $2.3 billion over the course of its exit from PFAS. In the fourth quarter, 3M expects to take an estimated pre-tax charge between $0.7 billion and $1.0 billion, primarily non-cash and related to asset impairments. In August this year, the Biden administration said it will propose designating certain "forever chemicals" as hazardous substances under the nation's Superfund program.

☆ Jim Cramer's top 10 things to watch in the market Friday: Hot inflation, Costco earnings, FTC Microsoft
▼ + stars: | 2022-12-09 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

The government says November producer prices rose 0.3% overall versus the 0.2% expected increase. Citi raises 3M (MMM) price target to $126 per share from $117; sees still emerging fiscal tailwinds. Wells Fargo upgrades Netflix (NFLX) to overweight from equal weight (buy from hold), raising its price target to $400 per share from $300. Baird raises price target on RH (RH), formerly known as Restoration Hardware, to $300 per share from $275; keeps neutral rating. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Dow dips ahead of Powell speech; Nasdaq kept afloat by growth stocks
▼ + stars: | 2022-11-30 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

The Dow Jones Industrial Average (.DJI) has gained 17.5% in the last two months, while the Nasdaq index (.IXIC) has added 4.2%. Traders expect the Fed to increase rates by 50 basis points in December, with the rates peaking in June 2023. So I don't really make much out of that, I'd like to see what Powell has to say," Saluzzi added. Declining issues outnumbered advancers for a 1.15-to-1 ratio on the NYSE and a 1.09-to-1 ratio on the Nasdaq. The S&P index recorded three new 52-week highs and one new low, while the Nasdaq recorded 51 new highs and 120 new lows.

☆ Dow falls ahead of Powell speech; Tesla shares boost Nasdaq
▼ + stars: | 2022-11-30 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +4 min

The Dow Jones Industrial Average (.DJI) has gained 17.5% in the last two months, while the Nasdaq index (.IXIC) has added 4.2%. Traders expect the Fed to increase rates by 50 basis points in December, with the rates peaking in June 2023. China Merchants Bank International said Tesla's sales in China in November were boosted by price cuts and incentives offered on its Model 3 and Model Y. So I don't really make much out of that, I'd like to see what Powell has to say," Saluzzi added. The S&P index recorded two new 52-week highs and no new low, while the Nasdaq recorded 35 new highs and 74 new lows.

☆ The Dow could actually end the year in the green
▼ + stars: | 2022-11-28 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +3 min

It would be a stunning comeback if the Dow reclaims all its lost ground and finishes the year in positive territory. As recently as mid-October the Dow was in bear-market territory for 2022, down more than 21%. Top industrial stocks in the Dow such as Boeing (BA), Caterpillar (CAT) and Honeywell (HON) have surged. (owner of The North Face and Vans), IBM (IBM) and 3M (MMM), is actually up 1% this year. There were several times when the stock market came back and then went back down,” said John Duffy, co-founder of Trending Stocks.

☆ Dow tumbles 500 points but could actually end the year in the green
▼ + stars: | 2022-11-28 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +3 min

New York CNN Business —Most of 2022 has been pretty dismal for investors, and Monday was no exception: The Dow fell about 500 points, or 1.5%, Monday. The Dow enjoyed its best month in nearly a half-century in October and it’s up nearly another 3% in November. It would be a stunning comeback if the Dow reclaims all its lost ground and finishes the year in positive territory. Top industrial stocks in the Dow such as Boeing (BA), Caterpillar (CAT) and Honeywell (HON) have surged. The S&P 500 and Nasdaq are still pretty deep in the red for 2022, off 17% and almost 30% respectively.

☆ California sues 3M, Dupont over toxic 'forever chemicals'
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

Nov 10 (Reuters) - California's attorney general on Thursday sued 3M Co (MMM.N), DuPont de Nemours Inc (DD.N) and several other companies to recoup the "staggering" clean-up costs from toxic pollutants known as "forever chemicals." The substances are known as forever chemicals because of how long they stay in the human body and environment. "The damage caused by 3M, DuPont, and other manufacturers of PFAS is nothing short of staggering, and without drastic action, California will be dealing with the harms of these toxic chemicals for generations," Bonta said. In June, the U.S. Environmental Protection Agency warned that forever chemicals could be dangerous even at undetectable levels. The Biden administration is expected to issue the first enforceable drinking water regulations for PFAS in public water systems this year.

☆ Independent union wins bargaining rights at 3M in central Mexico
▼ + stars: | 2022-11-01 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +2 min

MEXICO CITY, Oct 31 (Reuters) - Independent Mexican union La Liga has won the right to represent workers at a 3M Co (MMM.N) plant, authorities said on Monday, marking a second victory for the fledgling group at a pivotal moment for workers to take on entrenched interests. Workers at 3M's plant in the central city of San Luis Potosi, which makes everything from Post-It notes to N95 masks, voted in January to reject the collective contract negotiated by their long-established union, the Confederation of Mexican Workers (CTM), opening the door to new representation. The union now has six months to negotiate a new contract, and aims to ensure salaries that keep up with Mexico's climbing inflation, Saucedo said. It has previously said it aims to offer competitive salaries and ensure job stability and will negotiate with the union chosen by workers. Reporting by Daina Beth Solomon; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks: Dow on track for best month in more than 45 years
▼ + stars: | 2022-10-31 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +3 min

New York CNN Business —The Dow fell slightly midday Monday but is still up 14% this month, putting it on track for its best monthly gain since January 1976. Still, it’s fitting that on Halloween, candy maker Hershey (HSY) is trading at an all-time high, Shares are up nearly 25% this year. That’s nearly half of the Dow stocks. Oil stocks and health care companies are leading the market, with Chevron (CVX), Merck (MRK) and Amgen (AMGN) topping the Dow leaders list. This list of well known, brand-name stocks trading at record highs is further proof of that point.

☆ The kick comes at the end - world's hottest chili flavours French chocolates
▼ + stars: | 2022-10-28 | by ( Lucien Libert | ) www.reuters.com time to read: +2 min

[1/2] French chocolatier Damien Vidal poses with chocolates flavoured with Carolina Reaper chilli pepper at the Paris Chocolate fair in Paris, France, October 28, 2022. REUTERS/Lucien LibertPARIS, Oct 28 (Reuters) - It is hard to come up with something new at Paris' annual chocolate fair, but French chocolatier Damien Vidal found a way to put a mouth-tingling twist on his confectionary: incorporating the world's hottest chili. Two Japanese tourists and other visitors at the chocolate fair gamely tried the shiny chocolate-chili balls and nobody spat them out. "Mmm, it is both sweetie and spicy, not too spicy, the spicy taste is mild," said Japanese student Hitomi Ebitani. French fair visitor Justine Bonneau agreed.

The tech-heavy Nasdaq (.IXIC) jumped more than 2% in the session as the 10-year Treasury yield hit the day's low of 4.05% before bouncing slightly. 3M (MMM.N), on the other hand, fell 0.4% as it cut its full-year revenue and profit forecasts due to a stronger dollar. Advancing issues outnumbered decliners by a 5.56-to-1 ratio on the NYSE and by a 4.32-to-1 ratio on the Nasdaq. The S&P index recorded 12 new 52-week highs and one new low, while the Nasdaq recorded 61 new highs and 101 new lows. Reporting by Amruta Khandekar and Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ 3M warns of weak consumer spending, cuts full-year forecast
▼ + stars: | 2022-10-25 | by ( Kannaki Deka | ) www.reuters.com time to read: +2 min

Oct 25 (Reuters) - Post-it maker 3M Co (MMM.N) said on Tuesday it expected weak consumer spending to continue into the upcoming holiday season and cut its full-year forecasts, echoing broader concerns of an uncertain economic environment. "Consumer spending continues to be weak," 3M Chief Financial Officer Monish Patolawala said on a post-earnings call with analysts. That cut in spending has also impacted 3M, which makes equipment such as electronic accessories and power cable connectors. The diversified manufacturer, which gets 60 percent of its revenue from outside the United States, cut its full-year revenue and profit forecasts earlier on Tuesday, while also citing ongoing macroeconomic and geopolitical uncertainty. 3M reported third-quarter revenue of $8.62 billion, missing the average analyst estimate of $8.70 billion, according to Refinitiv data.

Earnings from the companies will offer a glimpse into how corporate America is holding up in the face of decades-high inflation and tighter financial conditions. "There is a positive view (on technology earnings)," said Giuseppe Sette, president of AI investment platform Toggle. FEDWATCHToggle's Sette noted that it is not yet a done deal that investors are shifting towards a more dovish Fed. Advancing issues outnumbered decliners by a 5.16-to-1 ratio on the NYSE and by a 4.03-to-1 ratio on the Nasdaq. The S&P index recorded 10 new 52-week highs and one new low, while the Nasdaq recorded 41 new highs and 76 new lows.

Earnings reports from companies including Microsoft (MSFT.O) and Google-owner Alphabet (GOOGL.O) will offer further clues on the strength of corporate America amid higher Treasury yields and an aggressive Federal Reserve tightening cycle. Shares of the two companies, which report after market close, were up about 0.2% each in premarket trading. Register now for FREE unlimited access to Reuters.com Register"There is a positive view (on technology earnings)," said Giuseppe Sette, president of AI investment platform Toggle. Leading premarket gains among Dow components, Coca-Cola Co (KO.N) rose 2.4% after the company raised its annual revenue and profit forecasts, banking on steady demand amid price increases. 3M (MMM.N), on the other hand, fell 2.8% as it cut its full-year revenue and profit forecasts due to a stronger dollar.

☆ 3M lowers full-year forecast on dollar impact
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +1 min

Oct 25 (Reuters) - Industrial conglomerate 3M Co (MMM.N) on Tuesday cut its full-year revenue and profit forecast, expecting to take a hit from rising inflation and shrinking overseas earnings due to a stronger dollar. The surging U.S. dollar is likely to weigh on overseas earnings of the company, which operates in more than 70 countries and derives about 60 percent of its revenues from outside the United States. The company now expects full-year revenue growth to fall between 3.5 and 3%, down from its previous forecast of 2.5 to 0.5%. 3M forecast adjusted earnings per share between $10.10 and $10.35 for the year, down from its previous guidance of $10.30 to $10.80. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kannaki Deka in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

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