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☆ Op-ed: Here’s why a sale of Bausch + Lomb could lead to a windfall for Bausch Health investors
▼ + stars: | 2024-09-17 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Bausch + Lomb parent company Bausch Health is spinning off the eye-care company with an upcoming IPO which will list on the New York Stock Exchange and TSX with the ticker symbol “BLCO”. This would greatly benefit BLCO stockholders, of which Bausch Health is the largest. As an 88% owner of BLCO, Bausch Health's value derived from such a sale would be $12.32 billion. Adding the value of the proceeds from BLCO sale, the Xifaxan cash flows and RemainCo yields a total value of $25.93 billion for Bausch Health. After subtracting 100% of the Bausch Health debt, that would yield an equity value of $10.49 billion or $28.19 per share.

Persons: Bausch, Scott Olson, Richard Mulligan, John Paulson, Brett Icahn, Steven Miller, Carl Icahn, BLCO, Goldman Sachs, Bausch Health's, Peers, InMode, Takeda, Gary Hu, Brent Saunders, Ken Squire Organizations: Bausch Health, New York Stock Exchange, TSX, U.S . Securities, Exchange, Financial Times, Cooper Companies, BLCO, Products, Takeda Pharmaceuticals, Ironwood Pharmaceuticals, Health, 13D Locations: CHICAGO , ILLINOIS, Chicago , Illinois, BLCO

“I’m here to support my wife and everybody else that deserves the right to have freedom of their reproductive rights,” said Goldberg, a 70-year-old retired computer software developer. Women clearly feel the impact of abortion restrictions, said Harris campaign manager Julie Chavez Rodriguez. At the same time, he argued, there’s no precedent for reproductive rights being a driving issue for men. The couple has become surrogates for the Harris campaign on reproductive rights, including at last month’s Democratic National Convention. “I’m here because the fight for reproductive rights isn’t just a women’s fight,” Josh Zurawski said at the Chicago convention.

Persons: Marcia Ruberg, ”, Kamala Harris, Gary Goldberg, “, Goldberg, Dobbs, —, Harris, Tim Walz, Doug Emhoff, Julie Chavez Rodriguez, Michael Cook, Ayres, Republican pollster, ’, ” Ayres, –, Samuel Chen, there’s, Chen, Pennsylvania Sen, Pat Toomey, Mike Mikus, Josh Shapiro, ” Shapiro, she’s, Joe Biden, Trump, Biden, Hadley Duvall, Duvall, Roe, surrogates, Morgan Mohr, Harris ’, Governor Shapiro, ” Mohr, Tony Goldwyn, Zachary Quinto, Josh Zurawski, Amanda Zurawski, isn’t, ” Josh Zurawski, ” Alexis McGill Johnson, ” Johnson, Fatima Goss Graves, ” Graves, Shapiro, ” Duvall, Andy Beshear, “ That’s, it’s, Chris Scholding, Larry Padersky Organizations: Philadelphia CNN, Trump, Democratic, CNN, Philadelphia, Republican, Pennsylvania, Pennsylvania Democratic Gov, Reproductive, Pittsburgh, Democratic National Convention, National Women’s Law, Fund, GOP, Harris Locations: Pennsylvania, Yardley , Pennsylvania, Pittsburgh, Florida, Philadelphia, Scranton, Allentown, Harrisburg, Chicago, Kentucky, New Jersey

☆ CNBC Daily Open: Tech might not be the biggest beneficiary of rate cuts
▼ + stars: | 2024-09-17 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Gary Hershorn | Corbis News | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineTechnology stocks benefit the most from low interest rates, conventional market wisdom says. When rates are low, that proposition appears attractive because returns are low elsewhere. This implies investors have been moving out of tech to other sectors that might experience tailwinds amid lower rates.

Persons: Gary Hershorn, Goldman Sachs, Christopher Barto, It's, CNBC's Hakyung Kim, Pia Singh, Yun Li Organizations: Trade Center, Corbis, CNBC, Nvidia, Meta, U.S . Federal, VanEck Semiconductor, Nasdaq, Dow Jones, Fort Pitt Capital Locations: Manhattan, Jersey City , New Jersey

☆ Trump crypto event for World Liberty Financial offers few details so far
▼ + stars: | 2024-09-16 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +6 min

Now, with 50 days until the presidential election, the Republican nominee says he would be launching World Liberty Financial in a Twitter Spaces event that began shortly after 8 p.m. CNBC sent detailed questions to a World Liberty Financial press email address on Monday. He's also part of the small group of World Liberty Financial founders, according to an internal report on the project obtained by CoinDesk. Along with Trump, Witkoff is one of at least a half dozen members of the project's "leadership team." CNBC reached out to World Liberty Financial, the Trump campaign, and the Trump Organization to ask for details related to the project and did not immediately hear back to this request.

Persons: Donald Trump, Kamala Harris, Donald Trump's, cryptocurrencies, Trump, Barron, He's, Gary Gensler, Farokh Sarmad, Steve Witkoff, Witkoff, Trump's, Donald Trump Jr, Eric Trump, Barron Trump, Zach Witkoff, Eric, Donald Jr, didn't Organizations: Democratic, U.S, Republican, Liberty, GOP, Securities and Exchange Commission, SEC, Trump, CNBC, Liberty Financial, Trump International Golf Club, FBI, World Liberty Financial, CoinDesk, Witkoff, Bloomberg, Trump Organization Locations: Philadelphia, Palm, West Palm Beach , Florida, Nashville

☆ Tito Jackson, member of the Jackson 5, has died at 70, his sons say
▼ + stars: | 2024-09-16 | by ( Associated Press | ) edition.cnn.com time to read: +3 min

AP —Tito Jackson, one of the brothers who made up the beloved pop group the Jackson 5, has died at age 70. “It’s with heavy hearts that we announce that our beloved father, Rock & Roll Hall of Famer Tito Jackson, is no longer with us. The Jackson 5 included brothers Jackie, Tito, Jermaine, Marlon and Michael. Born on Oct. 15, 1953, Toriano Adaryll “Tito” Jackson was the least-heard member of the group as a background singer who played guitar. Michael Jackson died at age 50 on June 25, 2009.

Persons: Tito Jackson, Tito, Jackson, Michael, Janet, Roll Hall of Famer Tito Jackson, ”, TJ, Taryll, Jackie, Jermaine, Marlon, Joe Jackson, Toriano Adaryll, Tito ” Jackson, Pop, Michael Jackson, “, “ There’s, that’s, Michael Jackson’s, He’s, We’re, “ Tito, Stevie Wonder, ” Tito Jackson, Randy, Rebbie, Katherine Organizations: Jackson, Roll Hall of Famer, Taj, Roll Hall of Fame, ABC, Associated Press, Entertainment Locations: Gary , Indiana, California, Munich, Germany

☆ Harris can chart her own path with the top regulators — and Big Business hopes she's on their side
▼ + stars: | 2024-09-16 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +9 min

Chris Larsen, the billionaire founder of blockchain payments company Ripple who is among the execs to endorse Harris, told Business Insider he wants her to make different appointments if she wins. "The way that they have already been interacting with business leaders is a compelling indication of where things could go in the future," Levie told Business Insider. Kovacic previously told Business Insider that Harris' relationship to economic progressives like Warren remains unclear. "It's not as though they think she will simply be an agent of Big Tech," he previously told Business Insider. "In the next four years, we'll be dealing with major policy subjects that relate to the next many decades of innovation," he told Business Insider.

Persons: —, Joe Biden, hamstrung, he'd, Sen, Elizabeth Warren of, Biden, Warren, Warren's, Lina Khan, Gary Gensler, Kamala Harris, Khan, William Kovacic, That's, Harris, Adam Kovacevich, Elizabeth Warren, Kovacevich, Kamala Harris doesn't, Politico, winced, Aaron Levie, Arati Prabhakar, Chris Larsen, Larsen, Catalini, Gensler, Dallas Mavericks Mark Cuban, Levie, Kovacic, Obama, Douglas Farrar, we'll Organizations: Service, White, Democratic, Business, Federal Trade Commission, Securities, Exchange, George Washington University, of, Consumers Bank Association, Science, Technology, Bloomberg, MIT Cryptoeconomics, SEC, Dallas Mavericks, FTC, Democratic Party, Warren, Biden, Big Tech, Harris Locations: Elizabeth Warren of Massachusetts, Biden's, Harris, California, Gensler

☆ Crypto spending on 2024 election hits $190 million, led by Winklevoss twins
▼ + stars: | 2024-09-16 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +6 min

The Winklevoss twins, Coinbase and Ripple didn't immediately respond to requests for comment. Huge jump from 2020Delmore, who has been assembling reports on crypto donations in the 2024 election for blockchain analytics platform Breadcrumbs, told CNBC that industry spending is nearly double where it was in the mid-terms — more than $190 million in the 2024 election versus $98 million in the 2022 election. It's nearly 13 times spending in 2020 of $15 million — a figure based on a mix of data from FEC and OpenSecrets filings. Unlike the past two election cycles, which featured spending from the now-bankrupt crypto exchange FTX and founder Sam Bankman-Fried, this year's contributor list is more robust and diverse. "Most of the crypto donations in 2022 were from FTX and SBF and almost all of them went to Democrats or PACs that support Democrats," Delmore said.

Persons: Tyler Winklevoss, Cameron Winklevoss, Joe Raedle, Cameron, James Delmore, Donald Trump, Chris Larsen, Brad Garlinghouse, Ro Khanna, John Deaton, Democratic Sen, Elizabeth Warren, Stuart Alderoty, Alderoty, Ripple, David Sacks, Trump, Gary Gensler, Gensler, Harris, Biden, Delmore, It's, Sam Bankman, Fried, Andreessen Horowitz, Coinbase, Coinbase's Organizations: Gemini, Mana Convention, Getty, CNBC, Trump, Republican, Trump America PAC, Fairshake PAC, Labs, Democratic, SEC, San, FEC, Citizen, Fairshake, Bloomberg, Crypto Alliance, DC Locations: Wynwood, Miami , Florida, bitcoin, Massachusetts, San Francisco, FTX

☆ Megan Ellison, the award-winning daughter of billionaire Larry Ellison, has a headache on her hands
▼ + stars: | 2024-09-14 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +2 min

Read previewMegan Ellison's award-winning video game company has a problem: Nobody wants to work there. Ellison is the daughter of Larry Ellison, the billionaire cofounder of the world's third-largest software company, Oracle. Megan Ellison founded her film studio, Annapurna Studios, in 2011, later adding Annapurna Interactive, the company's gaming division, in 2016. The company told Bloomberg that it explored the idea of a "spinoff" company, but could not reach an agreement. "Our top priority is continuing to support our developer and publishing partners during this transition," Ellison told the outlet.

Persons: —, Megan Ellison's, Ellison, Larry Ellison, Megan Ellison, Edith Finch, Nathan Gary —, Gary, Deborah Mars, Nathan Vella, Annapurna, Hector Sanchez, We're Organizations: Service, Oracle, Annapurna Studios, Annapurna Interactive, Business, Bloomberg, Annapurna, Hollywood, Epic

☆ Beijing suspends PwC's China unit for six months in record penalty over Evergrande audit
▼ + stars: | 2024-09-13 | by ( ) www.cnbc.com time to read: +5 min

Chinese regulators on Friday hit PwC's auditing unit in mainland China with a six-month business suspension and a record fine of 441 million yuan ($62 million) over the firm's audit of troubled property developer China Evergrande Group . "PwC has seriously eroded the basis of law and good faith, and damaged investors' interest," said the China Securities Regulatory Commission (CSRC) in a statement. PwC Zhong Tian, the registered accounting entity and the main onshore arm of PwC in China, was the country's top-earning auditor in 2022, according to the latest official data. "The cost is enormous in reputation, affecting the ability to get new business in China beyond the fine. PwC also deliberately excluded properties that Evergrande marked as "not allowed to visit" from audit samples, it added.

Persons: Zhong Tian, PwC, Gary Ng, PwC Zhong Tian, PwC Zhong, Daniel Li, Hemione Hudson, CSRC Organizations: China Evergrande Group, Big, China Securities Regulatory Commission, China's Ministry of Finance Locations: China, PwC, Asia, Pacific, Guangzhou, Hong Kong, New York

☆ How investors should play Wells Fargo stock after newly announced regulatory action
▼ + stars: | 2024-09-13 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

"This is the bank stock to buy, if you want to buy a bank stock," Jim offered, arguing that the regulatory snag shouldn't be a huge surprise to the market either. The agency said in a statement that Wells Fargo has already started to take corrective steps to remedy these issues. During Thursday's September Monthly Meeting, he said he would consider Wells Fargo as an honorary 13 core portfolio holding . Investors appear to have brushed off worries as well, with Wells Fargo stock up more than 1% on Friday. A person walks past the entrance to a Wells Fargo bank branch on Amsterdam Avenue on June 25, 2024, in New York City.

Persons: Wells, Jim Cramer, haven't, Jim, Wells Fargo, they're, We're, Charlie Scharf, Raymond James, Jim Cramer's, Gary Hershorn Organizations: Currency, OCC, Federal Reserve, Wall, RBC Capital Markets, CNBC, Corbis, Getty Locations: Wells Fargo, Wells, Amsterdam, New York City

☆ Activist investor Engine Capital pushes for new board at Upwork after taking 4% stake
▼ + stars: | 2024-09-13 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Close-up of sign at entrance to Silicon Valley headquarters of outsourcing and freelancing company Upwork, Mountain View, California, May 3, 2019. Activist investor Engine Capital has a roughly 4% stake in freelance marketplace Upwork and is pushing for a shakeup to the company's board. Upwork shares rose more than 3% on the news in pre-market trading Friday. Engine singled out several Upwork directors, including Chairman Thomas Layton and Greg Gretsch, for their lengthy tenures. Meanwhile, none of Upwork's directors have any apparent experience in staffing industry, the activist said.

Persons: Hayden Brown's, Brown, Arnaud Ajdler, Thomas Layton, Greg Gretsch, Splunk, Gary Steele, Ajdler, Upwork, Fiverr, Upwork didn't Organizations: CNBC Locations: Silicon, View , California

☆ Stocks making the biggest moves midday: Moderna, Uber, Boeing, Adobe and more
▼ + stars: | 2024-09-13 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Oracle — The stock rose nearly 2% after the database software company raised its fiscal 2026 revenue outlook . Uber — Shares of the ride-sharing company advanced more than 5% following news that it plans to expand its partnership with Alphabet's Waymo . Adobe — Shares tumbled 9% after the software company issued weaker-than-expected guidance for the current quarter. Unity Software — Shares of the game engine company added nearly 7%. Discovery — Shares advanced about 9% after the media conglomerate entered an early renewal agreement with Charter Communications.

Persons: Kevin Clark, RH —, Gary Friedman, Alphabet's Waymo, Uber, Stifel, Biden, David Zaslav, —, Jesse Pound, Sean Conlon, Samantha Subin, Hakyung Kim Organizations: JPMorgan, Oracle, Aptiv, — Stock, Adobe, Boeing, Unity, Holdings, PDD Holdings, Redfin Corporation, Federal Reserve, U.S, Home, Warner Bros, —, Charter Communications, Discovery Locations: U.S, Austin , Texas, Atlanta, China

☆ OpenAI takes another step closer to getting AI to think like humans with new 'o1' model
▼ + stars: | 2024-09-12 | by ( Lakshmi Varanasi | Jyoti Mann | ) www.businessinsider.com time to read: +4 min

The new model can work through complex tasks and, in comparison to previous models, solve more difficult problems in science, coding, and math. AdvertisementFor example, it beat GPT-4o — a multimodal model OpenAI unveiled in May — in the qualifying exam for the International Mathematics Olympiad by a long shot. Over the summer, while o1 was still in development, the company unveiled a new five-level classification system for tracking its progress toward that goal. But when Mollick asked o1 to solve a crossword puzzle, it thought about it for a "full 108 seconds" before responding. AdvertisementSince OpenAI unveiled GPT-4 last year, it's been releasing successive iterations in its quest to invent AGI.

Persons: —, OpenAI, Ethan Mollick, Mollick, Gary Marcus, it's Organizations: Service, Business, o1, International, Company, University of Pennsylvania's Wharton School, New York University Locations: —, AGI, GPT

☆ A Trump victory could send bitcoin to $125,000, but new records are likely no matter who wins election, says Standard Chartered
▼ + stars: | 2024-09-12 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin is likely to reach at least one more all-time high by the end of this year, according to Standard Chartered. That's likely regardless of whether Vice President Kamala Harris or former President Donald Trump wins the presidential election this November – a variable that others have viewed as a make-or-break game changer for the industry since Trump threw his public support behind the industry this summer. "BTC will end 2024 at fresh all-time highs under either election outcome – [circa] $125,000 level under Trump or c.$75,000 level under Harris," he said. The firm maintains its view that bitcoin will reach the $200,000 level by the end of 2025, regardless of this year's election outcome. That's one reason so many are hoping the election could trigger some movement in bitcoin.

Persons: Bitcoin, Kamala Harris, Donald Trump, Trump, Harris, Geoff Kendrick, Joe Biden's, Elizabeth Warren, Gary Gensler, Biden, Kendrick, Michael Bloom Organizations: Chartered, BTC, Trump, Securities, Exchange, Democratic Locations: bitcoin

☆ Bitcoin will surge 117% by year-end if 'crypto president' Trump wins the election, Standard Chartered says
▼ + stars: | 2024-09-12 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Bitcoin will reach $125,000 by the year's end if Trump wins the election, Standard Chartered said. Bitcoin would reach $75,000 under Kamala Harris, as she is more open to crypto than president Biden, SC said. Under the self-branded "crypto president," bitcoin could reach $125,000 by the year's end, analyst Geoff Kendrick wrote on Thursday. If Harris wins the presidency, bitcoin will reach $75,000 by the end of the year, Kendrick estimates. Even if Trump wins, Kendrick tempered his prior outlook that bitcoin can reach $150,000 by the year's end.

Persons: Bitcoin, Kamala Harris, Biden, —, bitcoin, Donald Trump, Geoff Kendrick, Trump, Gary Gensler, Kendrick, Joe Biden, Harris, Bernstein, Gautam Chhugani Organizations: Trump, Chartered, SC, Service, Securities and Exchange Commission, BTC, MicroStrategy, BlackRock's ETF, Democratic, Treasury

☆ Caroline Ellison seeks to duck prison sentence for role in FTX collapse
▼ + stars: | 2024-09-11 | by ( Mackenzie Sigalos | Mackenzie Sigalos Is A Technology Reporter For Cnbc With A Focus On Cryptocurrency | ) www.nbcnews.com time to read: +4 min

Lawyers for Caroline Ellison, the star witness in the prosecution of FTX founder Sam Bankman-Fried, are recommending no prison time for their client’s role in the implosion of the crypto empire that was run by her former boss and ex-boyfriend. Judge Lewis Kaplan, who presided over Bankman-Fried’s case, cited Ellison’s testimony when he decided in March to sentence the FTX founder to 25 years behind bars. Ellison, who ran Alameda Research, agreed to a plea deal in December 2022, a month after FTX spiraled into bankruptcy. Bankman-Fried forced Ellison into a sort-of isolation, culminating in her moral compass being “warped,” the lawyers say. Her former roommates and ex-FTX executives, Nishad Singh and Gary Wang, will be sentenced in October and November, respectively.

Persons: Caroline Ellison, Sam Bankman, Ellison, Judge Lewis Kaplan, FTX spiraled, “ Caroline, John Ray, “, Fried, disentangling, ”, ” She’s, that’s, ” Ellison, Nishad Singh, Gary Wang, — CNBC’s Dan Mangan Organizations: U.S, Alameda Research, court’s, Department, ”, Bankman Locations: FTX’s Bahamas, Alameda, Boston, Hong Kong, Bahamas, Bankman

☆ Bitcoin could soon hit six figures regardless of who wins U.S. election, investors say
▼ + stars: | 2024-09-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Despite the increasingly partisan sentiment in the cryptocurrency industry, bitcoin will thrive over the long term regardless of who wins the U.S. presidential election in November. It helps that bitcoin became more institutionalized than ever this year with the introduction of U.S. bitcoin exchange traded funds. "If Trump wins in November, will there be an immediate pump? If Harris wins, could there be some immediate sell pressure? Although there are concerns thanks to the Biden administration's position on bitcoin, "I would remind investors ... that bitcoin did great," under the current adminustration, Lubka added.

Persons: That's, Donald Trump's, Steven Lubka, Bitcoin, Lubka, Kamala Harris, James Davies, bitcoin, " Davies, hasn't, Harris, Biden, Tyrone Ross, Trump, Bernstein, Swan Bitcoin, Elizabeth Warren, Gary Gensler, … Organizations: U.S, Swan, Exchange, Investors, Conference, Republican, Trump, Securities Locations: United States, Japan, Nashville, bitcoin

See how we rate personal loans to write unbiased product reviews. One way my husband did that was by consolidating his loans to get out of debt. Back then, I had a decent credit score and about $18,000 in student loans, and he had a poor credit score and about the same amount in consumer debt and car debt. Here's what we did to tackle Marshall's credit score and debt ratio before officially tying the knot in January 2021 and eventually buying a home. It turned out a few inaccuracies were holding back his credit score, and he was able to get them deleted with just a phone call.

Persons: —, Marshall, Rich Dad, Robert T, JL Collins, Dave Ramsey, Chris Hogan, Christopher R, Jarvis, David B, Mandell, Gary John Bishop, we've Organizations: Service, Business, Nationwide

☆ IBM vice chairman Gary Cohn: Market sell-off in part due to 'exaggerated' reaction to debate
▼ + stars: | 2024-09-11 | 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 EmailIBM vice chairman Gary Cohn: Market sell-off in part due to 'exaggerated' reaction to debateGary Cohn, IBM vice chairman and former NEC director, joins CNBC to discuss his reaction to the presidential debate, the viability of Harris' economic plan, outlooks on tariffs, and much more.

Persons: Gary Cohn, Harris Organizations: IBM, NEC, CNBC

☆ Portfolio Manager discusses the rotation trades within the China market
▼ + stars: | 2024-09-10 | 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 EmailPortfolio Manager discusses the rotation trades within the China marketGary Tan of Allspring Global Investments discusses why he was cautious of the rotation to dividend plays in China and says what looks like a rotation within Hong Kong-listed tech stocks shows the need for more positive news before domestic capital steps into the equity markets.

Persons: Gary Tan Organizations: Allspring Global Investments Locations: China, Hong Kong

A Southwest Airlines plane takes off from Hollywood Burbank Airport above other Southwest planes on July 25, 2024 in Burbank, California. Southwest Airlines said Tuesday that executive chairman and former CEO Gary Kelly will retire next year and announced a board shakeup, moves that come as the carrier faces pressure for changes by activist investor Elliott Investment Management. Elliott in June revealed a nearly $2 billion stake in Southwest, seeking to oust leadership, including CEO Bob Jordan, who has also spent nearly four decades at the carrier. Southwest has also brought in outside experts, including Bob Fornaro, former CEO of Spirit Airlines and AirTran, which Southwest acquired. Southwest has an investor day scheduled for Sept. 26 in Dallas to expand on these and other initiatives.

Persons: Gary Kelly, Kelly, Herb Kelleher, Elliott, Bob Jordan, Bob Fornaro Organizations: Southwest Airlines, Elliott Investment Management, Southwest, Dallas, Texas, Spirit Airlines, Boeing, U.S Locations: Hollywood, Burbank , California, Southwest, Dallas

☆ Stocks making the biggest moves midday: Ally Financial, Southwest Airlines, Oracle and more
▼ + stars: | 2024-09-10 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Mission Produce , Calavo Growers — Shares gained 20% after the avocado producer reported a year-over-year revenue increase of 24% for the fiscal third quarter. Calavo Growers advanced around 12% after the rival producer reported adjusted earnings of 57 cents per share in its fiscal third quarter. That is more than the 43 cents per share that analysts were expecting, according to FactSet. Oracle — Shares of the database software company surged more than 11% after a fiscal first-quarter beat on the top and bottom lines. For the fiscal second quarter, the company saw growth of 4% in preliminary consolidated same-store sales.

Persons: Russell Hutchinson, LSEG, Piper Sandler, Hewlett Packard, Rubrik, FactSet, Patterson, Gary Kelly, Bob Jordan, Alibaba, Daniel Pinto, — CNBC's Brian Evans, Samantha Subin, Lisa Kailai Han, Jesse Pound, Michelle Fox Organizations: Ally, Mission, Calavo, Calavo Growers, Oracle —, Oracle, Amazon Web Services, Hewlett Packard Enterprise, Hewlett, Juniper Networks, UTI, Southwest Airlines —, Elliott Investment Management, Hong, Reuters, JPMorgan Locations: U.S, Alibaba —, China, Hong Kong, Shanghai, Shenzhen

☆ The new Trump trade is bitcoin, price could top $80,000 if he wins election, according to Bernstein
▼ + stars: | 2024-09-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

As November's Election Day draws nearer, so does bitcoin's eventual breakout from this year's narrow trading range, according to Bernstein. "We expect bitcoin to claim back new highs, in case of a Trump win and by Q4, we expect bitcoin to reach close to $80,000-$90,000 range. However, if Harris wins, we expect bitcoin to break the current floor around $50,000 and test the $30,000-$40,000 range, which it was when the bitcoin ETF momentum started in Q4'2023." BTC.CM= YTD mountain Bitcoin year-to-date Standard Chartered has forecast a bitcoin rally to $150,000 if Trump wins. "After last 3 years of regulatory purge, a positive crypto regulatory policy, can spur innovation once again and bring the users back to financial products on the blockchain."

Persons: Bernstein, Donald Trump, Kamala Harris, Gautam Chhugani, Harris, Trump, Gary Gensler, Chhugani, Massachusetts Sen, Elizabeth Warren's, TD Cowen, Joe Biden's Organizations: Trump, Securities, Exchange, Democratic Locations: —, U.S, Q4'2023, Nashville, Massachusetts

☆ Tech and business leaders will be looking for 3 things during the Harris-Trump debate
▼ + stars: | 2024-09-09 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +9 min

And that really, for tech, is going to determine what matters," he told Business Insider. "That was a clear effort to court business and tech," Tusk said. "That was really eye-opening, because that is not usually thought of as a business issue, it's thought of as a social issue," Snyder told Business Insider. But business and tech leaders will be looking at more than just policy on Tuesday night. AdvertisementLarsen believes that Harris may be able to provide the country with the reset that he and other business leaders are looking for.

Persons: —, Kamala Harris, Donald Trump, Harris, Joe Biden, Chris Larsen, Biden, Larsen, Bradley Tusk, Gary Gensler, Jordan Nof, Tusk, Gary Gensler's, Kieran Snyder, Snyder, Lina Khan, she's, Nof, Trump, Mark Cuban, Aaron Levie, Roe, it's Organizations: Service, Democratic National Convention, Business, Industry, Venture Partners, Democratic, Securities and Exchange Commission, Tusk Venture, SEC, Silicon, Federal Trade Commission, FTC, Wall Street Journal Locations: California, Silicon, U.S, China

☆ K-pop is more popular than ever, but that isn't helping agency stock prices
▼ + stars: | 2024-09-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +6 min

Hybe Corporation is the largest and listed on the blue-chip Kospi, while SM Entertainment, JYP Entertainment and YG Entertainment are on the small-cap Kosdaq. Physical sales have historically accounted for the lion's share of a label's revenue, Kim said, and has also been the most profitable segment. High physical sales, she explained, represent the number of fans, which, by extension, quantifies the addressable market for a company. watch nowDeclining physical album sales not only hits earnings, but also raises questions about whether the investment thesis of "continual high growth" has collapsed. "A physical album is useless and even a burden because it occupies space.

Persons: Jimmy Fallon, Hybe, Yoon Suk Yeol, Danielle, Hyein, NewJeans, Gary Miller, Blackpink, Kim Gyuyeon, Lisa, Jennie, Emma McIntyre, Emma Mcintyre, Kim, Simply, Mirae's Kim Organizations: NBC, NBCUniversal, Getty, Hybe, SM Entertainment, JYP Entertainment, YG Entertainment, SM, YG, YouTube, Spotify, CNBC, Park, Filmmagic, Coachella, London's, Big, Mirae Asset Securities, BTS, Valley Music, Arts Festival, JYP, Seoul Economic, South Locations: United States, Southeast Asia, Korean, CHICAGO , ILLINOIS, Chicago , Illinois, South, U.K, INDIO , CALIFORNIA, Indio , California, Seoul

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