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☆ Cash App Founder Bob Lee Fatally Stabbed in San Francisco
▼ + stars: | 2023-04-05 | by ( Alyssa Lukpat | ) www.wsj.com time to read: 1 min

Bob Lee built a career as a Silicon Valley executive and angel investor, according to his LinkedIn page. Bob Lee , the founder of money-transfer company Cash App and the chief product officer at cryptocurrency company MobileCoin Inc., was fatally stabbed in San Francisco on Tuesday. MobileCoin founder Joshua Goldbard confirmed Mr. Lee’s death in an email to The Wall Street Journal. Mr. Lee, who had been MobileCoin’s chief product officer since 2021, had previously worked on some of Silicon Valley’s most well-known products.

☆ Bob Lee, Cash app founder, dead after apparent stabbing attack in San Francisco
▼ + stars: | 2023-04-05 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +3 min

New York CNN —Bob Lee, the former chief technology officer of Square who helped launch Cash App, has died after an apparent stabbing attack in San Francisco. We love you.”Tech entrepreneur CashApp founder Bob Lee. San Francisco has been grappling with an apparent uptick in crime as it still attempts to bounce back from the pandemic. In total, there were 56 homicides in San Francisco in 2022, which is the exact same number of homicides the city saw in 2021. Prior to joining Square, Lee was at Google, where he helped lead the team that launched Android.

☆ UFC merger beefs up WWE's leverage in media rights negotiations
▼ + stars: | 2023-04-03 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Networks and streaming services need to get ready for a media rights smackdown. UFC should also benefit ahead of 2025, when its U.S. media rights deals come up, including with Disney's ESPN. "I think everything is up for grabs with these media rights deals. During his time with CAA, he had formed a relationship with McMahon during a recent round of TV rights negotiations for WWE. It will also work for UFC negotiations, he noted.

☆ Goldman Sachs upgrades this solar stock poised to rally nearly 80%, says recent pullback creates an attractive entry point
▼ + stars: | 2023-03-30 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

The recent pullback in Fluence Energy creates an attractive opportunity for investors to snap up shares of a company with improving fundamentals and margins, according to Goldman Sachs. Analyst Brian Lee upgraded the energy storage provider to buy from neutral, citing the recent pullback in the solar and energy sector amid the failure of Silicon Valley Bank and the ensuing turmoil that spooked many market participants. Shares gained more than 5% before the bell, with the stock down about 13% this month and 5.3% year to date. A stabilizing environment as raw material and logistics cost dwindle should also help shares, he added. At the same time, Lee believes that investors are underappreciating the manufacturing credits Fluence stands to gain from the Inflation Reduction Act.

MCCAMEY, Texas, March 23 (Reuters) - Cryptocurrency bankruptcies and worries over electric power consumption have failed to dent the industry's growth in Texas, according to a top trade group, citing the rise in the miners' power demands. Bitcoin miners consume about 2,100 megawatts of the state's power supplies, said Lee Bratcher, president of industry group Texas Blockchain Council. "There's been some challenges with the Bitcoin mining industry," Bratcher said, noting his group recently saw two prominent bankruptcies and other miners scaling back expansions. "Bitcoin mining is a very energy intensive business, which is why we tend to find places like West Texas to be full of Bitcoin miners," said Matt Prusak, chief commercial officer at cryptocurrency miner U.S. Bitcoin Corp, which has one of its mining operations in a 280-megawatt wind farm in Texas. In Texas, where about 250 people died during a winter storm blackout that exposed the fragility of the state's grid, the prospect of higher crypto demand has raised alarms.

☆ Baker: First Republic has been a victim of guilt by association but is still an attractive stock
▼ + stars: | 2023-03-17 | 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 EmailBaker: First Republic has been a victim of guilt by association but is still an attractive stockApex Financial Owner and President Lee Baker discusses the markets and trading day ahead.

REUTERS/Tyrone SiuTAIPEI, March 13 (Reuters) - Taiwan's defence spending this year will focus on preparing weapons and equipment for a "total blockade" by China, including parts for F-16 fighters and replenishing weapons, the military said in a report. Xi also said that when it came to Taiwan, China must oppose pro-independence and secessionist activities and the interference of external forces. Taiwan's defence ministry said China has systematically increased the strength of its "joint combat readiness" actions around Taiwan. That is more than double the number from a year earlier and poses a "substantial threat" to Taiwan's defence, the ministry said. China has been "normalising" no-navigation zones around the Bohai Sea, the Yellow Sea and the Taiwan Strait, the ministry added.

☆ What Signature Bank, Silicon Valley Bank failures mean for consumers and investors
▼ + stars: | 2023-03-13 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

A customer stands outside of a shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California. Justin Sullivan | Getty ImagesAfter two bank failures and dramatic moves from U.S. regulators to protect depositors, financial advisors have a message for consumers: Don't panic. The U.S. government on Sunday approved plans to safeguard depositors and financial institutions affected by the collapse of Silicon Valley Bank on Friday. watch nowWhile futures initially jumped Sunday evening following the announcement from regulators, bank stocks fell as the market opened Monday. Most consumers don't need to worry about depositsLee Baker, a certified financial planner and owner of Apex Financial Services in Atlanta, said most consumers don't need to worry about their bank deposits.

[1/2] Actor Robert Blake speaks to reporters as he walks to Burbank Courthouse in Burbank, California, U.S. August 29, 2005. A wrongful death lawsuit subsequently filed against Blake by her estate led to a civil court judgment that the actor was responsible for her slaying. Blake contended his wife was a victim of her own checkered past, gunned down by an unknown assailant. Blake's acting work was overshadowed four years later by the Bakley murder, which remains unsolved. A paternity test showed that the father was Blake, not Christian Brando, son of actor Marlon Brando, who Bakley had been dating simultaneously.

☆ Families get these 3 things wrong about estate planning, advisor says
▼ + stars: | 2023-03-10 | by ( Jessica Dickler | ) www.cnbc.com time to read: 1 min

In the wake of the pandemic, there's one topic that's suddenly a lot less taboo, according to Lee Baker, a certified financial planner based in Atlanta. "We get more calls around estate planning." said Baker, founder, owner and president of Apex Financial Services and a member of CNBC's Advisor Council. However, there are three things families are often initially wrong about, Baker noted. They believe "it's a daunting undertaking, it's only for rich people and it costs a ton," he said.

☆ Australia's Lee backs 'tough' PGA Tour changes
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +2 min

March 7 (Reuters) - Reduced fields and no cuts at designated events will be "tough" on players trying to make the grade on the PGA Tour but will ultimately reward good golf, according to Australian Min Woo Lee. The Tour has approved sweeping changes for 2024 in response to the threat posed by the Saudi-backed LIV Golf circuit, drawing a scathing reaction from lower-ranked players. Designated events were announced by the PGA Tour last August to get the best players competing against each other more often. Leading players, including world number three Rory McIlroy, have said the changes are necessary for the tour to be more competitive. "So I agree with it because, I mean, good golf, you got toplay good golf to play in the best tournaments.

☆ Top Wall Street analysts pick these stocks for attractive returns
▼ + stars: | 2023-03-05 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

In these tough times, investors would be well advised to find stocks that are positioned to navigate a potential economic downturn. To help with the process, here are five stocks chosen by Wall Street's top professionals, according to TipRanks, a platform that ranks analysts based on their past performance. However, the company issued conservative guidance for fiscal 2023 due to the impact of high inflation on its low-to-moderate income customers. Further, he thinks that Kontoor's fiscal 2023 outlook "will likely prove conservative." Poser raised his fiscal 2023 and 2024 earnings per share estimates, reiterated his buy rating for Kontoor Brands and increased the price target to $60 from $53.

The company — which has its COVID-19 vaccine as the only marketed product after 35 years in business — on Tuesday flagged significant uncertainty around its 2023 revenue, funding from the U.S. government, and pending arbitration with global vaccine alliance Gavi. Syringes with needles are seen in front of a displayed Novavax logo in this illustration taken, November 27, 2021. Novavax faces near-term risks as protein-based vaccines take longer to produce than mRNA-based competitors, Novavax CEO John Jacobs has said. "While there is the potential for a substantial booster market ... we don't expect Novavax to be a major player in the booster opportunity." As of last close, Novavax's U.S.-listed shares were down 97% from their February 2021 record high of $331.68.

The stock had dropped 26.2% to $6.83 around 8:55 ET (13:55 GMT), while its Frankfurt-listed shares slumped more than 27%. The company - whose COVID vaccine is its only marketed product after 35 years in business - on Tuesday flagged significant uncertainty around its 2023 revenue, funding from the U.S. government, and pending arbitration with global vaccine alliance Gavi. Syringes with needles are seen in front of a displayed Novavax logo in this illustration taken, November 27, 2021. Novavax faces near-term risks as protein-based vaccines take longer to produce than mRNA-based competitors, Novavax CEO John Jacobs has said. As of last close, Novavax's U.S.-listed shares are down 97% from their February 2021 record high of $331.68.

☆ Wall Street loves Alibaba right now. Here's what to expect from the tech giant's earnings
▼ + stars: | 2023-02-22 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

Since the turn of the year, more and more Wall Street banks have turned bullish on the Chinese tech sector, with Alibaba emerging as a favorite stock. The Chinese tech giant, which spans e-commerce, technology and internet segments, is due to report its earnings for the December quarter on Thursday. The bank has named Alibaba its "top pick" in the Chinese tech sector for the first time in three years. Morgan Stanley has a base-case price target of $150 on Alibaba, and a bull-case price target of $200. "We believe the 2-year long earnings downward revision cycle has likely bottomed," Goldman said, giving Alibaba a price target of $138.

☆ Publishing Magnate Si Newhouse’s Art Trove Could Sell for Near $150 Million
▼ + stars: | 2023-02-21 | by ( Kelly Crow | ) www.wsj.com time to read: +1 min

The estate of publishing magnate Samuel Irving Newhouse Jr. took note last fall when collectors clamored after Microsoft co-founder Paul Allen’s $1.6 billion record-setting estate sale. Heartened by the art market’s resilience, the publisher’s family said Tuesday it plans to follow suit—auctioning off more of Mr. Newhouse’s own trove this spring. The move marks the third time the Newhouse estate has plied his pieces into sales since he died six years ago at age 89—a trickling strategy that contrasts with the theatrical, everything-must-go atmosphere conjured when Mr. Allen or the Rockefellers before him sold off vast art holdings all at once. The 16 latest works consigned to Christie’s for its coming New York sales in May represent a fraction of the art amassed over the decades by Condé Nast’s chairman emeritus, but the batch is estimated to top $144 million and will showcase his taste for a broad sweep of artists, including Pablo Picasso, Francis Bacon, Jasper Johns and Lee Bontecou.

☆ Baker: The bond market has not changed its mind about the odds of a recession
▼ + stars: | 2023-02-07 | 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 EmailBaker: The bond market has not changed its mind about the odds of a recessionApex Financial's Lee Baker discusses what to watch in the markets.

☆ How China planted an FBI mole who was discovered only after gutting the CIA's vast spy network
▼ + stars: | 2023-01-18 | by ( James Bamford | ) www.businessinsider.com time to read: +25 min

At the time, four years after the handover from Britain to China, much of Hong Kong remained a world of neon and noise. "Five years ago, everyone looked down on you if you spoke Mandarin," said a Beijing executive living in Hong Kong. As soon as the Hong Kong Arts Festival ended, the Hong Kong International Film Festival began. In February 2006, Alex Ma, China's mole in the FBI, sent David photos he received from his handlers of five suspected human sources. Born in Hong Kong like Alex, Lee grew up in Hawaii and became a naturalized U.S. citizen.

☆ Meet Keith Lee, the pro fighter with social anxiety who became TikTok's 'food godfather' and savior of local Las Vegas restaurants in a matter of months
▼ + stars: | 2023-01-12 | by ( Jordan Hart | ) www.businessinsider.com time to read: +5 min

Keith Lee, 26, rose to new heights of TikTok at the end of 2022 as his videos gained exposure. Now at 8.6 million followers, the 26-year-old professional athlete began posting on the video-sharing app in 2020 to help with his social anxiety and interviewing skills, Lee told Insider. "Weight has always been a big focal point for me as a professional athlete," Lee told Insider. When he noticed his food review videos gaining traction on TikTok, he decided to commit to filming reviews more often. Although Lee said he understands the power of TikTok, he told Insider he's still adjusting to his new status as a trusted food reviewer.

☆ 2022 was the worst-ever year for U.S. bonds. How to position your portfolio for 2023
▼ + stars: | 2023-01-07 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Interest rates started 2022 at rock-bottom — where they'd been for the better part of the time since the Great Recession. Bond prices move opposite interest rates — as interest rates rise, bond prices fall. Duration is a measure of a bond's sensitivity to interest rates and is impacted by maturity, among other factors. We can see why long-dated bonds suffered especially big losses in 2022, given interest rates jumped by about 4 percentage points. The traditional dynamics of a 60/40 portfolio — a portfolio barometer for investors, weighted 60% to stocks and 40% to bonds — will likely return, advisors said.

☆ Goldman Sachs: Buy these 20 stocks poised for up to 50% upside over the long term as inflation cools down in 2023
▼ + stars: | 2023-01-05 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +4 min

Inflation is expected to cool down in 2023, partly due to the Inflation Reduction Act. Last March, Fed Chair Jerome Powell embarked on an aggressive interest rate-hiking cycle, while President Joe Biden signed the Inflation Reduction Act in August. 20 stocks to profit from taming inflationAccording to Lee, IRA tailwinds could drive over 50% upside in earnings or stock prices in 20 select stocks as early as 2023. Surprisingly, the 20 stocks poised to benefit from IRA also included names from energy services and financials, two sectors with "underappreciated upside," Lee wrote. Below are the 20 stocks Lee and his team identified as the biggest IRA beneficiaries.

The Tampa Police Department announced it had terminated an officer Tuesday following an internal investigation into a video where he was seen dragging a woman into jail. Interim Tampa Police Chief Lee Bercaw said Damon's actions were "unacceptable and are not tolerated at this department." Supervisors at the Hillsborough County Sheriff’s Office, the agency which manages the jail, referred Damon's actions to Tampa Police's standards bureau. Tampa Police Department had revised its protocols in 2013 following a similar incident with uncooperative prisoners. Damon's termination comes after two other incidents of police misconduct at the Tampa Police Department in recent weeks.

☆ Investor sentiment is worse than it was at the depths of the Great Financial Crisis in 2008 - but that suggests a stock market bottom is near, Fundstrat says
▼ + stars: | 2022-12-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Investor sentiment is worse than it was at the depths of the 2008 Great Financial Crisis, according to Fundstrat. But stock market conditions today are not as bad as they were in 2008, suggesting a bottom is near. Based on a rolling 51-week average of bearish sentiment measured by the AAII Investor Sentiment Survey, sentiment is at its lowest level on record since the survey began in 1987, Fundstrat's Ken Xuan said in a Thursday note. All-in, the overly bearish investor sentiment, combined with inflation showing signs of falling "like a rock," means the stock market is near a bottom if it hasn't already been realized. And that sets the stock market up for a big rally in 2023, which Fundstrat's Tom Lee believes can eclipse more than 20% to his 2023 S&P 500 target of 4,750.

☆ Tom Lee says there's a chance the Fed pauses hiking for all of 2023, sparking a massive stock rally
▼ + stars: | 2022-12-22 | by ( John Melloy | ) www.cnbc.com time to read: +3 min

Fundstrat sees that coming in at 4.4%, also below current Wall Street expectations. "Fed framework likely changes to 'predictable Fed' as inflation is now operating near their long-term goal of 2%," wrote Lee in the note this week. "This would be a massive dovish pivot, in our view, and could mean Fed pauses entirely in 2023 (maybe)." Lee's call is well outside expectations on Wall Street. Volatility easing to spark big rally The next piece of the Lee's theory is that as the Fed changes its policy, stock market volatility will collapse.

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