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April 26 (Reuters) - Mattel Inc (MAT.O) reported a bigger-than-expected loss for the first quarter on Wednesday as the toymaker grappled with higher costs and retailers cutting back on orders. "Retailers are working through this inventory and expect that to be corrected by the end of the first half." Price increases have also discouraged consumers from spending more on its products, leading to a 21% drop in net sales for Mattel to $815 million after adjusting for currency fluctuations. Worldwide gross billings for Barbie, which represents amounts invoiced to customers, fell 41%, while Hot Wheels' billings rose only 1%. The company, however, stuck to its full-year net sales and adjusted profit forecasts and said it expects inflation to moderate in 2023.

☆ DOJ charges 18 people — including doctors — in massive Covid health-care fraud takedowns
▼ + stars: | 2023-04-20 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

Other cases involved the alleged manufacture and distribution of fake Covid vaccine record cards. But instead of administering the Covid vaccine, the defendants allegedly destroyed vials of the vaccines intended for patients, the DOJ said. Two people in Utah were also charged with allegedly manufacturing and selling about 120,000 fake Covid vaccine cards. The DOJ said the people charged with distributing fake vaccine cards "intentionally sought to obstruct" the federal government's efforts to roll out a nationwide Covid vaccine program. They also follow similar criminal charges related to Covid fraud schemes in April 2022 and May 2021.

☆ Burger King is closing 27 more locations across the US. See the full list.
▼ + stars: | 2023-04-14 | by ( Danni Santana | ) www.businessinsider.com time to read: +3 min

Franchisee Meridian Restaurants Unlimited is closing 27 Burger King locations in the US. Another Burger King franchisee, EYM King of Michigan said it will close 26 locations last month. Meridian operates over 100 Burger King locations. The Burger King operator filed for bankruptcy in March because of low sales and high inflation, among other factors. Another Burger King franchisee, TOMS King Holdings, filed for Chapter 11 bankruptcy protection in January for similar reasons.

☆ UK recruiters slow pace of pay growth in March, REC survey shows
▼ + stars: | 2023-04-12 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

LONDON, April 12 (Reuters) - Britain's labour market showed signs of a slowing in the sharp pace of pay growth in March and a shortage of candidates eased for the first time in two years, according to a survey of recruiters published on Wednesday. The Recruitment and Employment Confederation/KPMG said increases in starting salaries for permanent staff were the second-weakest in nearly two years, but remained high in historical terms. Billings for temporary workers, which often increase when employers are cautious about the outlook, rose at the fastest pace in six months. "The continuing fast rate of pay growth is likely reflective of the impact of inflation on wage offers, as well as low labour supply," Carberry said. Vacancies ticked up further in March although the pace of growth eased slightly from a four-month high in February.

☆ Par Pacific to take over Montana refinery on June 1
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: 1 min

HOUSTON, March 31 (Reuters) - Independent U.S. refiner Par Pacific Holdings (PARR.N) is expected take over a 63,000-barrel-per-day (bpd) Billings, Montana refinery from Exxon Mobil (XOM.N) on June 1, said Exxon spokesperson Julie King on Friday. Par Pacific agreed in October to buy the Billings refinery from Exxon for $310 million plus the cost of hydrocarbon and other inventory to be valued at the sale's closing. A spokesperson for Par Pacific did not reply to a request for comment. With addition of the Billings refinery, Par Pacific will have four refineries with a combined throughput of 218,000 bpd. Exxon has said it wants to concentrate on refineries that are connected to adjoining chemical plants.

☆ Inside a shake-up at the world's 'most feared law firm'
▼ + stars: | 2023-03-30 | by ( Casey Sullivan | ) www.businessinsider.com time to read: +30 min

It's been a tumultuous period for Quinn and the storied law firm he built over the past 37 years — now the world's largest litigation firm with hourly rates that can be north of $2,000. But behind the scenes, a shift at QE has been the talk of elite law firm circles. Indeed, the firm – known as a singular, even freewheeling, institution that brands itself as the "#1 Most Feared Law Firm in the World" — may appear to be less in the image of its founder as a generational shift brings changes. "We all thought it was important that the world understands this is not a one generation law firm." One former firm partner in California says he believes Quinn's inner circle generally got better deals.

☆ A TikTok ban or forced sale could lead to major collateral damage for US tech companies like Apple and Chinese apps like Shein
▼ + stars: | 2023-03-15 | by ( Dan Whateley | ) www.businessinsider.com time to read: +9 min

"A big Chinese balloon in the sky and millions of Chinese TikTok balloons on our phones. But US tech companies that rely on data collection for advertising sales or other business practices have fought to curb such regulations. Still, efforts by members of Congress to pass federal legislation around data privacy, such as the American Data Privacy and Protection Act, have faced an uphill battle. Apple's 2021 user privacy changes stunted ad revenue at Facebook and Snapchat-maker Snap, for example. But blocking companies from gathering private information from users could also be a more effective path to protecting Americans while maintaining an avenue for Chinese companies to participate in the global economy.

☆ Top analysts are bullish on these five stocks in uncertain times
▼ + stars: | 2023-03-12 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Here are five stocks to weather the storm, according to Wall Street's top professionals on TipRanks, a platform that ranks analysts based on their past performance. Despite the ongoing pressures, cloud-based data warehouse company Snowflake (SNOW) delivered upbeat quarterly results. The company's fiscal 2023 fourth-quarter results missed expectations due to macro pressures, higher costs, supply chain issues and increased promotional activity. TD Cowen analyst Shaul Eyal remains bullish about Zscaler and reiterated a buy rating with a price target of $195 following the results. (See Zscaler Hedge Fund Trading Activity on TipRanks) Eyal holds the 15th position among more than 8,000 analysts on TipRanks.

☆ Here’s our fourth-quarter earnings report card for all the stocks in our portfolio
▼ + stars: | 2023-03-10 | by ( Zev Fima | ) www.cnbc.com time to read: +20 min

Fourth-quarter earnings season is in the rearview mirror and most Club stocks reported results ahead of, or in line with, analysts' forecasts. Moreover, excluding foreign exchange fluctuations, this marked the ninth quarter in a row of 20% or better annual earnings growth. Nvidia (NVDA) reported a very strong quarter and better-than-expected guidance for the current quarter . Eli Lilly 's (LLY) fourth-quarter results came up a bit short on revenue but delivered a strong bottom line. Despite missing on top-line expectations, Wells Fargo 's (WFC) earnings came in better-than-expected, as the bank realized the benefits of higher interest rates .

☆ The war against TikTok won't solve the 'national embarrassment' of how poorly the US protects your data
▼ + stars: | 2023-03-08 | by ( Dan Whateley | ) www.businessinsider.com time to read: +8 min

"A big Chinese balloon in the sky and millions of Chinese TikTok balloons on our phones. TikTok has hurt its own cause when it comes to its reputation around data privacy. For example, the company misrepresented how US user data was managed and then its parent company monitored the locations of reporters who exposed its practices. Still, efforts by members of Congress to pass federal legislation around data privacy, such as the American Data Privacy and Protection Act, have faced an uphill battle. Apple's 2021 user privacy changes stunted ad revenue at Facebook and Snapchat-maker Snap, for example.

☆ All-weather stocks that can outperform in any economic 'landing,' according to Evercore ISI
▼ + stars: | 2023-03-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

As investors weigh the possibility of a U.S. recession or a soft landing, there are certain stocks that should outperform in either scenario, according to Evercore ISI. However, Evercore ISI is among those on Wall Street that have a base-case scenario of a recession in the second half of the year. The other is what he calls " valmentum stocks " — value stocks with momentum — that have high free-cash-flow yield and strong earnings-per-share momentum, he added. Booking Holdings is one of Evercore ISI's valmentum stocks and could rally about 15% from Friday's close, according to the firm's price target of $3,000. Wynn is up more than 40% year to date, while Las Vegas Sands stock has gained more than 26%.

☆ Here's what makes cybersecurity giant Palo Alto Networks tick and why we like the stock so much
▼ + stars: | 2023-03-06 | by ( Zev Fima | ) www.cnbc.com time to read: +22 min

Palo Alto Networks (PANW) last month had its best single trading day in about a year, exactly one week after the next-generation cybersecurity company became our newest Investing Club holding. Why Palo Alto Networks? PANW YTD mountain Palo Alto Networks (PANW) 1-year performance Palo Alto Networks is a great way to play a secular growth industry. Taking all of these segments together, Palo Alto Networks is a company capable of delivering on every aspect of cybersecurity under one roof. Palo Alto Networks' ESG practices, meanwhile, are overseen by the ESG and Nominating Committee, which provides counsel to the board in these matters.

☆ Stocks making the biggest moves premarket: C3.ai, Zscaler, ChargePoint and more
▼ + stars: | 2023-03-03 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Check out the companies making headlines before the bell:C3.ai — Shares surged 17% after C3.ai reported third-quarter results that topped expectations. It also reported revenue of $66.7 million, surpassing expectations of $64.2 million. The company reported adjusted earnings of 63 cents per share on revenue of $7.81 billion. Zscaler — Shares of the cybersecurity company slid 11% in premarket trading despite Zscaler beating estimates on the top and bottom lines for the fourth quarter. The wholesale retailer reported revenue of $55.27 billion, less than the consensus estimate of $55.54 billion, according to Refinitiv.

☆ Stocks making the biggest moves midday: Apple, Meta, Costco, Marvell, C3.ai and more
▼ + stars: | 2023-03-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

Costco Wholesale — The retailer's shares dropped 3.4% after the company's fiscal second-quarter earnings missed analysts' expectations. Marvell Technology — The chip stock lost 7.3% after Marvell Technology reported mixed quarterly results and provided weak guidance. The move comes after Bumble announced it would price a secondary offering of 13.75 million shares of its common stock at $22.80 per share. The company earned an adjusted 37 cents per share, above the 29 cents expected by analysts, according to Refinitiv. The company posted a loss of 6 cents per share, compared to Refinitiv analysts' estimates for a 22 cent loss.

☆ Stocks making the biggest moves after hours: C3.ai, Zscaler, ChargePoint, Marvell Technology and more
▼ + stars: | 2023-03-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

The company posted a loss of 6 cents per share, compared to analysts' estimates for a 22 cent loss. Dell's revenue also exceeded expectations, coming in at $25.04 billion versus analysts' estimates of $23.39 billion. Marvell Technology — Shares of the semiconductor company shed 6% after the company posted mixed results for the fourth quarter. Meanwhile, its revenue of $1.42 billion topped the $1.40 billion analysts had expected. Hewlett Packard also posted revenue of $7.81 billion, beating estimates of $7.43 billion.

Here's an update on technology-related holdings in Jim Cramer's Charitable Trust, the portfolio we use at the CNBC Investing Club. Jim ran through the 35 stocks during the Club's inaugural Annual Meeting, an in-person event Saturday in New York City. Big picture, we think AMD shares will continue to increase in value as its leadership over Intel is further cemented. But sentiment is improving, with AMD shares climbing around 21% year to date. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Palo Alto Networks' earnings blowout spotlights the Club's newest stock
▼ + stars: | 2023-02-21 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Shares of Palo Alto Networks climbed roughly 8% in afterhours trading, to over $180 apiece. The need for vendors to consolidate their security budgets into fewer players is another trend working in Palo Alto Networks' favor. This quarter marked Palo Alto Networks' third consecutive quarter of GAAP profitability. Outlook For Palo Alto Networks' fiscal year 2023, management raised its outlook across several different metrics. Arora Nikesh, Palo Alto Networks CEO & Chairman at the WEF in Davos, Switzerland on May 23rd, 2022.

☆ Winter storm threatens record snowfall in parts of US
▼ + stars: | 2023-02-21 | by ( Brendan O'Brien | ) www.reuters.com time to read: +5 min

[1/5] Waves come to shore along the coastline as a winter storm approaches Oceanside, California, U.S., February 21, 2023. REUTERS/Mike BlakeCHICAGO, Feb 21 (Reuters) - A winter storm spreading across the U.S. West into the Northern Plains and Midwest on Tuesday could produce blizzards, brutal cold, and record snowfall, making roads treacherous and disrupting air travel. The National Weather Service issued winter storm, blizzard and high-wind advisories for large parts of the western and north-central United States. The agency said these areas will also be under a winter storm warning until Friday and advised people against traveling. Although the snow storm could wreak havoc on daily life, it was welcomed by skiers.

☆ Huge winter storm churns across northern U.S., threatening record snowfall
▼ + stars: | 2023-02-21 | by ( Brendan O'Brien | ) www.reuters.com time to read: +5 min

CHICAGO, Feb 21 (Reuters) - A massive winter storm spreading across the U.S. West into the Northern Plains and Midwest on Tuesday could produce blizzards, brutal cold, and record snowfall, making road travel treacherous and disrupting air travel. The National Weather Service issued winter storm, blizzard and high-wind advisories for a broad swath of the western and north-central United States. Some spots in the South may have temperatures that are over 100 degrees Fahrenheit warmer than some places in the Northern Plains, the forecast showed. While the U.S. East has experienced a relatively mild winter, the Northern Plains has had an extreme winter in terms of snowfall and temperatures, NWS meteorologist Matthew Bunkers in South Dakota said. Although the snow storm could wreak havoc on daily life, it was welcomed by skiers.

☆ ‘Hello Tomorrow!’ Review: Billy Crudup Sells Crater-Front Property
▼ + stars: | 2023-02-17 | by ( John Anderson | ) www.wsj.com time to read: +1 min

The dark comedy and shiny retrofuturism of “Hello Tomorrow!” may suggest a few alternative titles—“Mrs. Maisel in Space” or “The Jetsons Like Ike” or “Glengarry Glen Ross on Ketamine,” none of which would be wrong, exactly. Billy Crudup gives a genuinely remarkable performance as Jack Billings , a man who is mostly façade, which helps his mission—selling real estate on the moon. He’s a master at his craft and Mr. Crudup gives Jack sufficient self-awareness to make him charming, even when both he and a client know he’s playing a part and pushing a scheme. But even as the shilling for lunar time-shares plays out in a universe seemingly caught between eras, the production design is a constant wonder and curiosity, if not a positive distraction.

☆ Here's why mysterious flying objects are suddenly popping up all over the place, according to the military command that's been shooting them down
▼ + stars: | 2023-02-13 | by ( Jake Epstein | Grace Eliza Goodwin | ) www.businessinsider.com time to read: +5 min

Four suspicious flying objects have been shot down over North American skies in recent days. NORAD changed its radar filters to help spot smaller, slower objects after a Chinese spy balloon drifted over the US. The command has changed the way it looks for them and is now finding more of these objects. Since the US Air Force shot down the Chinese balloon in early February, fighter jets have downed three additional airborne objects. US officials said this object was flying at an altitude of 40,000 feet and posed a threat to civilian aircraft.

☆ Lidar makers Ouster and Velodyne complete their merger, creating a sector powerhouse
▼ + stars: | 2023-02-13 | by ( John Rosevear | ) www.cnbc.com time to read: +4 min

Lidar makers Ouster and Velodyne said on Monday that they have successfully completed a "merger of equals," creating a lidar powerhouse. The combined company will have more than 850 current customers, a deep portfolio of patents and about $315 million in cash on hand, based on year-end figures. Those developments helped set the stage for consolidation in the lidar space, Ouster CEO Angus Pacala said when the deal was first announced. Pacala, who will lead the combined company, told CNBC in an interview on Monday that the merger is "a major step toward profitability for Ouster." Velodyne's CEO, Ted Tewksbury, will chair the combined company's board of directors, and its chief financial officer, Mark Weinswig, will retain that role with Ouster, while Ouster co-founder Mark Frichtl will serve as the combined company's chief technology officer.

☆ Wynn CEO on consumer outlook, return of Macao and a casino in the Middle East
▼ + stars: | 2023-02-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWynn CEO on consumer outlook, return of Macao and a casino in the Middle EastCraig Billings, Wynn Resorts CEO, joins 'Halftime Report' to discuss the company's earnings and consumer outlook.

☆ The US military didn't know if the missile that took out a Chinese spy balloon would work when an F-22 took the shot, commander says
▼ + stars: | 2023-02-08 | by ( Jake Epstein | Christopher Woody | ) www.businessinsider.com time to read: +4 min

An F-22 downed a Chinese spy balloon on Saturday with a single AIM-9X Sidewinder missile. But the Pentagon wasn't sure if the missile would work when the pilot fired it, a top commander said. US Marines transport an AIM-9X Sidewinder missile at Iwakuni in Japan in September. Weapons evaluators for the Air Force could not immediately address Insider's inquiry on the matter. The AIM-120, on the other hand, is a "new generation" missile that succeeded the AIM-7 Sparrow, according to the Air Force.

☆ China has a global spy balloon operation collecting intel on other countries' militaries, including 'strategic bases' in the US, officials say
▼ + stars: | 2023-02-08 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

The downed Chinese surveillance balloon is part of a global network, US officials say. This is what we assess is part of a larger Chinese surveillance balloon program," Pentagon Press Secretary Brig. Ryder said the purpose of the Chinese surveillance balloons was to study "strategic sites," including "strategic bases" in the continental US. The Chinese balloon program has gathered information on military assets belonging to the Philippines, Japan, Vietnam, India, and Taiwan, the Washington Post reported. It was not immediately clear when, exactly, previous balloons in other regions were determined to be Chinese surveillance devices.

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