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☆ Here are the 13 stocks Jim Cramer is watching, including Amazon, Oracle and Nike
▼ + stars: | 2023-09-22 | by ( Jim Cramer | ) www.cnbc.com time to read: +1 min

Charles River Laboratories InternationalRaymond James likes Ralph LaurenSusquehanna starts coverage on semiconductor designer and recent IPO Arm Holdings (ARM) with a neutral (hold) rating and a $48-per-share price target. BTIG starts recent IPO Instacart DoorDash UberKiss of Death: JPMorgan upgraded global energy stocks overweight (buy). SUPERCYCLE ALERT (remember I hate supercycle calls): Dear generalists, put your seatbelts on. Higher for longer energy prices. Deutsche Bank cuts price target on T-Mobile

Persons: Baird, Jim Cramer's, River Laboratories International Raymond James, Ralph Lauren Susquehanna, DoorDash Organizations: CNBC, Amazon, Garden, LongHorn, Darden, Dow, Nike Exxon Mobil FedEx Citi, Dell, River Laboratories International, Arm Holdings, JPMorgan, Deutsche Bank, Mobile

☆ Insider Today: Side hustles' turning point
▼ + stars: | 2023-09-21 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

A new study from Morgan Stanely makes the case that generative AI will enable people to work multiple jobs, writes Insider's Alistair Barr. In the US alone, multi-earning has increased 11% over the past year, largely thanks to the rise of generative AI tools like ChatGPT. New research from EY found that nearly 40% of Gen Zers had a side hustle to earn extra money. Adding fuel to the fire is the fact bosses don't seem to care if their employees are working multiple jobs, albeit with one caveat. To be sure, executives' acceptance of employees working multiple jobs might be short-lived.

Persons: Randy Rush, Morgan Stanely, Alistair Barr, Morgan Stanley, EY, Gen Zers, Zers, Gen, Z, Alex Wong, we're, It's, Peter Brown, alums, —, Brooks Kraft, Cassidy Hutchinson, Rudy Giuliani, Joe Biden, Volodymyr Zelenskyy, Mike Minnis, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Fed, cofounders, Renaissance Technologies, Tesla, Bugatti, Brooks Kraft LLC, Getty, Netflix, United Nations General Assembly, Darden, Olive Garden, LongHorn Locations: Wall, Silicon, Asia, Scottish, —, Europe, Americas, Olive, New York City, San Diego, London

☆ Stocks making the biggest moves premarket: FedEx, KB Home, Klaviyo and more
▼ + stars: | 2023-09-21 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

FedEx — Shares gained more than 5% after fiscal first-quarter earnings results that topped expectations. FedEx reported adjusted earnings of $4.55 per share, greater than the $3.71 forecast by analysts polled by LSEG, formerly known as Refinitiv. Its revenue of $21.7 billion was slightly below expectations of $21.74 billion. KB Home — The homebuilder stock fell more than 3% despite KB Home beating expectations in its third-quarter report. Klaviyo — The marketing automation company stock slid more than 1% after it made its public debut.

Persons: Klaviyo, Exane, CNBC's David Faber, Disney, LSEG, — CNBC's Brian Evans, Jesse Pound, Alex Harring Organizations: FedEx —, FedEx, LSEG, KB, New York Stock Exchange, BNP, Solutions, Starbucks, Netflix, Disney —, Writers Guild of America, Darden Locations: China

☆ Olive Garden and Cracker Barrel are still seeing a decline in older customers
▼ + stars: | 2023-09-21 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

New York CNN —Even the unlimited breadsticks at Olive Garden and wooden rocking chairs at Cracker Barrel can’t seem to lure back the baby boomers. Now, some older customers are still staying away, exacerbating a foot traffic problem faced by restaurant chains. Darden Restaurants (DRI), which owns Olive Garden, Longhorn Steakhouse, Cheddar’s Scratch Kitchen and others, noted during an analyst call Thursday that it, too, is seeing declining visits from older customers. The largest of Darden’s franchises by far, Olive Garden is about “more and more and more,” as Cardenas said Thursday. For Cracker Barrel, which has also been trying to attract younger consumers but has traditionally appealed to an older clientele, the pullback from older customers is a bigger deal.

Persons: It’s, …, ”, Sandra Cochran, ” Cochran, Burger, Scott Olson, Raj Vennam, Vennam, Ricardo Cardenas, Darden, ’ ” Cardenas, we’ve, Cardenas, “ Organizations: New, New York CNN, Darden, Olive Garden, Longhorn Locations: New York, Olive, Orlando , Florida, Lebanon , Tennessee

☆ Olive Garden parent Darden Restaurants beats earnings estimates, despite weak fine-dining sales
▼ + stars: | 2023-09-21 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Darden Restaurants on Thursday reported earnings and revenue that topped analysts' expectations in its first quarter as the owner of Ruth's Chris Steak House. But same-store sales of Darden's fine-dining segment fell more than expected, signaling that consumers are spending less on upscale restaurant meals. The chain reported same-store sales growth of 8.1%, topping StreetAccount estimates of 6.1%. Olive Garden, which accounts for roughly 45% of Darden's revenue, reported same-store sales growth of 6.1%, meeting expectations. Darden's fine-dining restaurants saw same-store sales shrink 2.8%, wider than expectations of a 1.8% decline.

Persons: Chris Steak, Darden, Chris, Eddie V's Organizations: Darden, LSEG, LongHorn Locations: Olive, Pittsburg , California

☆ Morning Bid: Fed leaves shoe dangling in policy parade
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +5 min

At least eight major central banks are meeting on Thursday. Central banks in South Africa and Turkey are also meeting. Futures now show the implied Fed policy rate for the end of next year at a new cycle high of 4.85% - up a whopping 35 basis points in just over a week. Key developments that should provide more direction to U.S. markets later on Thursday:* Bank of England policy decision; South Africa Reserve Bank policy decision, Central Bank of Turkey policy decision. European Central Bank President Christine Lagarde speaks* Philadelphia Fed's September business survey, U.S. weekly jobless claims, U.S. Aug existing home sales, U.S. Q2 current account estimate.

Persons: Sarah Silbiger, Mike Dolan, Jerome Powell, Goldman Sachs, Goldman, Jan Hatzius, Robin Brooks, Brooks, BoE, Christine Lagarde, Darden, Christina Fincher Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Swiss National Bank, Bank of, Fed, for International Finance, Treasury, Swiss, Africa Reserve Bank, Central Bank of, European Central Bank, Factset, Reuters, Thomson Locations: Washington ,, U.S, Norwegian, Bank of England, South Africa, Turkey, Central Bank of Turkey, Philadelphia

☆ Inflation is expected to slow because of these trends
▼ + stars: | 2023-09-17 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —US inflation has slowed steadily from its four-decade peak last June, and it’s expected to cool further thanks to easing car prices and rents. Despite the expected inflation drop, she said investors anticipate the Fed will keep interest rates steady and not cut them anytime soon. “It may take a little bit longer than expected for inflation to come down to 2%, and inflation being in a 2-3% range next year is reasonable,” she said. Tuesday: Canada’s statistics agency releases August inflation data. The UK’s Office for National Statistics releases August inflation data.

Persons: we’re, ” José Torres, “, ”, Sarah House, Saira Malik, Michelle Toh, ” Read, General Mills, Christine Lagarde Organizations: CNN Business, Bell, DC CNN, Interactive Brokers, CNN, “, ”, United Auto Workers, CPI, San, San Francisco Fed, National Association of Home Builders, US Commerce Department, Japan’s Ministry of Finance, FedEx, General, National Statistics, Federal Reserve, Darden Restaurants, The Bank of England, US Labor Department, National Association of Realtors, The Bank of Japan, European Central Bank, Global Locations: Washington, Wells Fargo, San Francisco, China, Michelle Toh ., Japan’s

☆ Cramer: The 4 fears that are upsetting the market and what needs to happen next
▼ + stars: | 2023-09-17 | by ( Jim Cramer | ) www.cnbc.com time to read: +11 min

Nike, under CEO John Donahoe, continued its total dominance that it had under previous leaders Mark Parker and Phil Knight. I really, really like Starbucks CEO Laxman Narasimhan and we are going to see a very strong executive make decisions now that Howard is gone. Apple weakness just casts a pall over everything. We have had weakness in the banks on fears of more regulation and that's only getting worse. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Let's, John Donahoe, Mark Parker, Phil Knight, It's, Armour, Nike's, Locker, Mary Dillon, Kevin Johnson, Howard Schultz, Schultz, Bob Iger, Robert Chapek —, Johnson, Chapek, Laxman Narasimhan, Howard, Gina Raimondo, Apple —, Stellantis, Joe Biden, Shawn Fain, Safra, Marc Benioff couldn't, LEN, Darden, it's, Jim Cramer's, Jim Cramer, Jim, Bill Pugliano Organizations: Nike, Adidas, Armour, Dick's Sporting, China, Disney, Apple, Micron, Qualcomm, Starbucks, United Auto Workers, Detroit, —, Motors, Chrysler, Ford, walkouts, U.S, UAW, Oracle, Marriott, Booking Holdings, Federal, FedEx, KB, Jim Cramer's Charitable, CNBC, General Motors, Big, Getty Locations: China, Europe, American, United States, Oracle's, Detroit , Michigan

☆ Here are three things we're watching in the markets in the week ahead
▼ + stars: | 2023-09-16 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

The Softbank-owned chip designer's return to the public markets — the largest initial public offering since 2021 — was the highlight of the week. Those are the three things that we'll be focusing on in the week ahead. While struggling to snap back after Covid, China this week reported better-than-expected industrial output and stronger retail sales, signaling that things may be looking up. The United Auto Workers strike against Detroit's three biggest automakers will continue in the week ahead, barring a labor deal. ET: Fed Governor Lisa Cook is set to deliver the keynote address at the NBER's Economics of Artificial Intelligence Conference in Toronto, Canada.

Persons: —, Morgan Stanley, Wells Fargo, Jerome Powell's, Jim Cramer, it's, Jim Farley, Stanley Black, Decker, Eli Lilly, Jerome Powell, Mills, Lisa Cook, Jim Cramer's, Jim, Brendan McDermid Brendan Mcdermid Organizations: Nasdaq, Dow Jones, Federal, United Auto Workers, automakers, Fed, West Texas, Saudi, Coterra Energy, Natural Resources, Detroit's, UAW, General Motors, Chrysler, Ford, CNBC, Stanley, Housing, Apogee Enterprise, FedEx, KB, Darden, NBER's, Artificial Intelligence, Jim Cramer's Charitable, Traders, New York Stock Exchange, REUTERS Locations: U.S, Covid, China, WTI, Toronto, Canada, New York City

☆ The Fed is expected to hold rates steady next week, but its guidance will be key for investors
▼ + stars: | 2023-09-15 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The Federal Reserve is widely anticipated to hold rates steady in the week ahead, but key for investors will be the central bank's guidance on where it's headed from here. Investors are assessing a mixed batch of economic reports ahead of the Fed's September policy meeting. Meanwhile, August retail sales came in better than expected, jumping 0.6% against a 0.1% increase expected by economists. Housing data released in the week ahead could show whether housing demand remains solid. Week ahead calendar All times ET.

Persons: Bank's Rob Haworth, Jerome Powell, Powell, Hogan, Instacart, Arm's, Mills, Lisa Cook, —, Jeff Cox, Michael Bloom Organizations: Federal Reserve, Dow Jones, Dow, Nasdaq, Investors, PPI, Federal, Riley, FedEx, Housing, Philadelphia Fed, Darden, FactSet, Systems, National Bureau of Economic Research, Artificial Intelligence, PMI, SA, PMI Manufacturing SA, PMI Services SA Locations: NAHB, Toronto, Canada

☆ Cramer's week ahead: Pay attention to the Federal Reserve's meeting
▼ + stars: | 2023-09-15 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Friday gave investors tips for what to focus on during the coming week, highlighting the Federal Reserve's Wednesday decision on interest rate hikes for the rest of the year. Grocery-delivery company Instacart may also release initial public offering pricing Monday night, Cramer said, and Tuesday will bring an earnings report from AutoZone. "When there's a Fed meeting coming up in less than a week and nobody seems worried about it, maybe you want to brace yourself for a little turbulence," he said. On Thursday, Cramer will be looking at Olive Garden owner Darden 's earnings report, which may provide some clarity on whether consumers are spending money dining out. And Friday will mark a week since the United Auto Workers union went on strike against the country's primary automakers.

Persons: CNBC's Jim Cramer, We've, there's, Jay Powell, Cramer, Jerome Powell, I'm, Powell, General Mills, Darden, Shawn Fain Organizations: Disney, ESPN, ABC, Nexstar, AutoZone, FedEx, KB, Fed, Olive Garden, United Auto Workers Locations: Orlando , Florida, General

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, FedEx, Match, Ford, Amazon, Microsoft and more
▼ + stars: | 2023-09-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating after Apple's iPhone event Tuesday. F (Buy) earnings more resilient than appreciated driven by Pro business." Morgan Stanley reiterates Darden as overweight Morgan Stanley said it's bullish heading into the owner of Red Lobster's earnings next week. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's standing by its recent upgrade of the stock despite investor pushback. TD Cowen reiterates FedEx as outperform TD Cowen said it's cautiously optimistic heading into FedEx earnings next week.

Persons: Morgan Stanley, Apple, it's, BEV, Darden, Red, Commerce Max, Tesla, pushback, Michael Kors, Guggenheim, TD Cowen, Hershey, Cowen, Bernstein, Roth, Roth MKM, BTIG, Lennar, F3Q, Needham Organizations: JPMorgan, UBS, Ford, General Motors, Pro, Citi, Commerce, JPMorgan downgrades Oracle, WWE, UFC, Holdings, NYSE, Microsoft, FedEx, " Bank of America, Garden Entertainment, Bank of America, YouTube Locations: China, Capri, Lennar, GOOGL

☆ How Outback's success in Brazil is keeping the Australian-style barbecue chain alive
▼ + stars: | 2023-09-12 | by ( Darren Geeter | ) www.cnbc.com time to read: +3 min

Outback Steakhouse, renowned for its American twist on Australian-style barbecue, has found unexpected success in Brazil as its U.S. business stalls. The South American segment is responsible for an astonishing 83% of Bloomin' Brands' total international sales. In 2020, reports circulated that Bloomin' Brands might divest its Brazil assets, valued at $472 million, to streamline operations and bolster margins. In 2021, the Brazil segment rebounded, as sales jumped 26% year over year to $259 million. Bloomin' Brands has seen a notable share price recovery, rising from pandemic lows to $28.18 a share as of Aug. 31.

Persons: São Paulo, Bloomin, Papa John's Organizations: Outback's U.S, Brazilian, Harvard, Darden Locations: Brazil, Tampa , Florida, Rio de Janeiro, Brasilia, America

☆ Activist Starboard has a variety of strategies to build value at Bloomin’ Brands
▼ + stars: | 2023-09-09 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Its restaurant portfolio includes Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill and Fleming's Prime Steakhouse & Wine Bar. But a better opportunity might be their hidden gem in the 150 Outback restaurants in Brazil. As for Starboard, the firm has had extensive success at both Papa John's and Darden, but in strikingly different ways. Papa John's was a very amicable engagement in which Starboard was invited onto the board and worked with management to create extensive shareholder value. If management is smart, they will view Darden as a warning, and Papa John's as the opportunity.

Persons: David C, George, Bloomin, outperforming Darden, Jeff Smith, Papa John's, Chris, Del Frisco's, accretive, Jana Partners, John P, Gainor, Lawrence V, Jackson, Jana, Papa, Darden, Ken Squire Organizations: Brands, Wine, Papa John's, Darden, Texas Roadhouse, LongHorn Steakhouse, Texas, Fogo De Chao, 13D Locations: United States, BLMN, Fogo De, Brazil

☆ Outback Steakhouse owner's stock rises after activist Starboard Value buys stake
▼ + stars: | 2023-08-18 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

An Outback Steakhouse truck sits parked outside a restaurant in New York. Shares of Outback Steakhouse owner Bloomin' Brands rose 7% in morning trading Friday after an activist investor disclosed its interest in the restaurant company. Starboard Value now owns 9.9% of Bloomin's shares, according a regulatory filing. In addition to Outback, Bloomin' also owns Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse and Wine Bar. Starboard Value has a proven track record of successful turnarounds at restaurant companies.

Persons: Bloomin, Jana Partners, Garden's breadsticks, Papa John's, John Schnatter, Jeff Smith Organizations: Fleming's, Wine, Bloomin, Barington Capital Group, Darden Restaurants Locations: New York

☆ American price elasticity stretched to the limit
▼ + stars: | 2023-08-10 | by ( Ben Winck | ) www.reuters.com time to read: +3 min

WASHINGTON, Aug 10 (Reuters Breakingviews) - The United States may be over the hump on inflation, but consumers aren’t acting like it. Lingering restraint will stretch the power of price elasticity to its limits. Similarly, PepsiCo’s (PEP.O) 14% increase in North American prices of Mountain Dew, Tropicana orange juice and other beverages cost it 4% in quarterly sales. Strong appetites for Oreos and Wheat Thins lifted Mondelez International’s (MDLZ.O) sales 2% in the United States, Canada and Mexico, even as prices climbed 10%. They have climbed 3.5% from a year earlier, surpassing the 3.2% annual increase in the Consumer Price Index.

Persons: Mondelez, Darden, Ricardo Cardenas, Laxman Narasimhan, Marriott, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: Reuters, of Michigan, U.S . Bureau of Labor Statistics, Capital, Procter & Gamble, Delta Air Lines, United Airlines, Reuters Graphics Reuters, U.S, of Labor Statistics, Thomson Locations: States, Dew, United States, Canada, Mexico, American

☆ Educational TikTok teaches history you might not learn in school
▼ + stars: | 2023-08-08 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +9 min

Scholars and educators are increasingly using TikTok to share history that’s seldom found in textbooks — and their content is finding an audience. TikTok can fill in educational gapsKahlil Greene, known as Gen Z Historian on TikTok, is one of several educators on the platform who have built up a following around sharing little-known history. While some lawmakers and officials try to limit such instruction, that knowledge can be vital for students, said Ernest Crim III, a former high school history teacher who now makes educational content for TikTok. In fact, his educational content has resonated so widely that he left classroom teaching to make social media content full-time. TikTok educational content can empower communitiesEducational content on TikTok can also provide avenues for exploring one’s identity.

Persons: weren’t, Kahlil Greene, Greene, Martin Luther King Jr, “, ” Greene, Ernest Crim III, Crim, Ernest Crim III “, ”, TikTok, Carter G, Woodson, Henry Box Brown, Bill Darden, Viola Liuzzo, Selma, Moses Fleetwood Walker, Jackie Robinson, —, Ava DuVernay, ” Crim, Aslan Pahari, he’s, Pahari, — Pahari’s, “ I’m, they’re, “ They’re Organizations: CNN, Yale University, New York Times, University of California, Los Angeles School of Law, Facebook, Major League Baseball, MLB, Australian National University Locations: TikTok, —, White, California, Texas, Chicago, Black, Montgomery, Hughley, Sydney, South Asia, Central Asia, India, Afghanistan, Australia, Khyber Pakhtunkhwa, Punjab, Pakistan, West

☆ ‘You Have to Work Extra to Hire People’: What Companies Have Been Saying About Jobs
▼ + stars: | 2023-08-04 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

As companies reported their latest quarterly earnings in recent weeks, hiring, wages and head counts were popular topics as analysts quizzed executives about their plans. Others said that rising wages remained a worry for their bottom lines. And many still looking to hire said that attracting and retaining workers was difficult as the labor market remained robust. “You have to work extra to hire people and to keep people,” Andrew Watterson, the chief operating officer of Southwest Airlines, said on a call with analysts. Even so, the rate of workers quitting their jobs, a measure of workers’ confidence in their prospects and bargaining power, continued to fall in June, according to data released Tuesday.

Persons: ” Andrew Watterson, ”, Martine Ferland, Mercer, Rick Cardenas Organizations: Southwest Airlines, Darden Restaurants Locations: Olive

☆ Starboard Value's Jeff Smith remains one of the most feared and creative activist investors
▼ + stars: | 2023-08-01 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Starboard Value's Jeffrey Smith has been one of the busiest activist investors over the last two decades, best known for his proxy fights in the restaurant space. Darden shares saw a nearly 60% jump under Smith's activism, from October 2014 to April 2016. After Darden, Smith sought a turnaround at pizza chain Papa Johns , taking a $200 million stake in the company and becoming chairman in 2019. Smith took an activist stake in software company Salesforce last year. The Starboard CEO was even active during the Covid pandemic, calling for changes at Humana, Kohl's, Mercury Systems and other companies.

Persons: Jeffrey Smith, Smith, Darden, Papa, John Schnatter Organizations: Olive, Darden, Wharton grad, Mercury Systems Locations: New York

☆ AI is a concern for writers. But actors could have even more to fear
▼ + stars: | 2023-07-18 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —How many actors does it take to make the movies and shows produced by studios and streaming services? SAG-AFTRA, the actors union that has had 160,000 members on strike since last week, is afraid that artificial intelligence will lead to far fewer employed actors in the future. And winning limits on AI is an issue for the Writers Guild of America, which has been on strike against the same studios and streaming services since May 2. The fight over virtual actors and performancesComputer-generated imagery, or CGI, to create virtual actors and extras is somewhat old hat in Hollywood. “The actors and writers, they’re kind of a canary in the coal mine,” said David Gunkel, a communications professor at Northern Illinois University who tracks AI in media and entertainment.

Persons: ”, Fran Drescher, AFTRA, Tom, “, Duncan Crabtree, AMPTP, don’t, Anthony Palomba, wasn’t, Nancy Marchand, Tony Soprano’s, HBO’s, Rowan Curran, Forrester, Joshua Glick, Bard, University of Virginia’s Palomba, “ I’m, Andrea Schneider, Goldman Sachs, David Gunkel Organizations: New, New York CNN, SAG, Writers Guild of America, Alliance, Motion Pictures, Television Producers, University of Virginia’s Darden School of Business, University of Virginia’s, Cardozo Law School, Northern Illinois University, UPS Locations: New York, Hollywood, Ireland

☆ Cramer gives his "haves" and "have nots" of the earnings season
▼ + stars: | 2023-07-13 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

It's earnings season, and CNBC's Jim Cramer is giving you his list of haves and have nots. On Thursday, Cramer listed the companies and sectors he thinks are currently thriving on the market alongside the ones he believes are not. Many of these companies, Cramer said, are thriving due to their focus on AI, especially Alphabet, Microsoft and Nvidia. Cramer highlighted a few other contenders also doing well in the tech space like Oracle , Salesforce and Adobe . When it comes to the have nots, Cramer pointed to phone companies, specifically AT&T and Verizon .

Persons: Jim Cramer, Cramer, what's, Wynn, Darden, Kohl Organizations: Microsoft, Apple, Meta, Nvidia, Tesla, Adobe, MGM, Verizon, Nordstrom Locations: Chipotle

☆ How AI’s astonishing productivity gains could help curb inflation
▼ + stars: | 2023-07-12 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

Experts say the technology will help address a steep and prolonged slowdown in productivity growth in many Western economies, which has kept businesses’ costs higher than they would otherwise be and made inflation harder to tame. “AI has huge potential to increase productivity,” BlackRock CEO Larry Fink said at the company’s Investor Day last month. Productivity gains in Europe could be similar, albeit slightly smaller, Brynjolfsson told CNN. In some cases, productivity gains could be achieved sooner. That’s because most generative AI tools live on the internet — “the technology we already have on our desks” — making them widely accessible, Brynjolfsson said.

Persons: chatbot, —, Smart, Hannes P Albert, Bill Gates, Larry Fink, Erik Brynjolfsson, ” David McMillan, ” McMillan, Hollie Adams, Neil Shearing, Martin Neil Baily, Anton Korinek, Brynjolfsson, Goldman Sachs, ” Organizations: London CNN, Microsoft, BlackRock, CNN, Stanford University, Organisation for Economic Cooperation, Development, OECD, University of Stirling, Bloomberg, Getty, “, National Statistics, IBM, Capital, Brookings Institute, University of Virginia’s Darden School of Business, America, Productivity, Google, SAP, Goldman Locations: East, Scotland, London, United Kingdom, United States, Europe, Wimbledon

☆ A lead portfolio manager at a $205 billion asset manager explains why there's no recession ahead for the US economy — and shares 8 mid-sized stocks set to beat the market going forward
▼ + stars: | 2023-07-07 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +5 min

Diane Jaffee — lead portfolio manager at TCW, which manages $205 billion in assets — sits solidly in this latter camp. "Historically, mid-caps and small-caps outperform large caps over time, but you have to go back to a 20 year time horizon before that's true," Jaffee explained. 8 mid-cap stocks set to outperformWithin her mid-cap fund, some of Jaffee's financials holdings include insurance broker Arch Capital Group (ACGL) and private equity firm Apollo Global Management (APO). "It has a great management team that comes from JPMorgan, and they're an economic focus for Puerto Rico," Jaffee explained. Within consumer discretionary stocks, Jaffee also noted homebuilder Toll Brothers (TOL) as another top holding.

Persons: Diane Jaffee, Jaffee, Morgan Stanley, Seth Carpenter, Carpenter, that's, We've, They've, homebuilder, she's, LEN Organizations: Wall, Federal Reserve, —, Arch Capital, Apollo Global Management, Banco Popular, JPMorgan, Puerto, Darden, Medicaid outlays Locations: TCW, financials, Puerto Rican, Puerto Rico, Olive

☆ Forecasts show U.S. earnings decline in second quarter
▼ + stars: | 2023-06-23 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Analysts expect earnings for S&P 500 companies to fall 5.6% in the second quarter from a year ago, according to IBES data from Refinitiv. Fourth-quarter 2022 earnings for S&P 500 companies declined 3.2%, so a first-quarter profit fall would have been a second straight quarterly decline, which some strategists call an earnings recession. Package delivery firm FedEx (FDX.N) this week posted disappointing quarterly earnings and said waning global demand is pressuring its profit margins. "S&P 500 EPS estimates and stock prices will need to reset lower." The S&P 500 (.SPX) is down about 1% this week, but remains up more than 13% for the year to date.

Persons: COVID, Jerome Powell, Oliver Pursche, Olive, Morgan Stanley, Nick Raich, Caroline Valetkevitch, Alden Bentley, Nick Zieminski Organizations: YORK, Microsoft Corp, Apple Inc, Reserve, Bank of England, Wealthspire Advisors, Walmart Inc, FedEx, Olive Garden, Darden, Nike, Thomson Locations: Refinitiv, Washington, U.S, Westport , Connecticut

Financial markets, however, are still pricing in a 25-basis-point rate increase in July and no further hikes after that, according to CME FedWatch tool. Ahead of his second day of testimony before the U.S. Senate Banking Committee at 10 a.m. Shares of Tesla (TSLA.O) slid 3% before the bell after Morgan Stanley downgraded the electric automaker to "equal weight" from "overweight". ET, Dow e-minis were down 114 points, or 0.33%, S&P 500 e-minis were down 13.75 points, or 0.31%, and Nasdaq 100 e-minis were down 61 points, or 0.41%. Reporting by Shubham Batra and Shristi Achar A in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, Morgan Stanley, Jerome Powell, Powell, Mark Luschini, Janney Montgomery Scott, Shubham Batra, Shristi, Arun Koyyur Organizations: Dow, Nasdaq, Federal, U.S . Senate, Tesla, Dow e, Microsoft, Boeing, Accenture, Darden, Olive Garden, Thomson Locations: Washington, Wichita , Kansas, Bengaluru

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