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TV shows face a cutthroat new era
  + stars: | 2024-09-12 | by ( Lucia Moses | ) www.businessinsider.com   time to read: +6 min
To hear agents, lawyers, and producers tell it, the Hollywood they're going back to is more risk-averse than ever. Think of the "Suits LA" spinoff of the USA Networks show that was popularized by Netflix, and shows with big stars attached to them. Even big stars are getting slightedThere's an overall feeling that Hollywood has become too risk-averse. But in the meantime, the dearth of shows being ordered will take its toll on Hollywood. "There's just some people who are not going to be able to survive this dark period," a second lawyer said.
Persons: , it's, ProdPro, David Zaslav, Jennifer Salke, bankable, Elle Fanning, Nicole Kidman, David E, Kelley, Bill Dubuque, Comcast's Peacock, Jake Gyllenhaal, Kathy Bates, There's, Jonathan Glickman Organizations: Service, Hollywood, Netflix, USA Networks, Business, Warner Bros . Discovery, Amazon MGM Studios, Apple, Netflix . Media, Disney, CBS, Industry, Producers, Miramax Locations: Hollywood
London CNN —The European Central Bank (ECB) cut interest rates Thursday, lowering borrowing costs for the second time in recent months as inflation slows and Europe’s economy stumbles. The ECB cut rates for the first time in five years in June, but kept them unchanged at its last meeting in July. However, it marginally downgraded the outlook for economic growth in the eurozone to 0.8%, from 0.9% projected in June. “Financing conditions remain restrictive, and economic activity is still subdued, reflecting weak private consumption and investment,” the ECB said. Earlier this week, former ECB chief Mario Draghi said in a report that slowing economic growth and productivity present an “existential challenge” to Europe.
Persons: Bert Colijn, Christine Lagarde’s, Mario Draghi, Draghi Organizations: London CNN, European Central Bank, ECB, Olympic, Paralympic Games, P Global, Hamburg Commercial Bank, , ING Locations: Germany, Paris, Europe, United States, China, EU
Here's a rapid-fire update on all 32 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. AMD shares have caught a bid in recent days, but they're still cheap considering the growth of its AI processors. Broadcom : Investors who don't own any Broadcom yet should consider starting a position here, Jim said. Although it's tempting to offload shares, Jim said to stick with Honeywell for now because there's huge value in individual businesses like aerospace. There's little negative to say about this portfolio stock.
Persons: Jim Cramer's, Jim, Apple, haven't, it's, that's, he'll, Bob Iger, Bob Chapek, Larry Ellison, Biogen, Eli Lilly, Lowe's, Vimal Kapur, We'd, Linde, Lilly, Morgan Stanley, Goldman Sachs, It's, Jensen Huang, Kamala Harris, Republican Donald Trump, CrowdStrike, Palo, — we're, we're, Brian Niccol, Sands, Stanley Black, Decker, Wells, Charlie Scharf's, Jim Cramer, Angela Weiss Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Abbott Laboratories, Abbott Labs, AMD, Amazon, Web, Broadcom, VMWare, Federal Reserve, Costco Wholesale, Coterra, DuPont, New York Times, Oracle, GE Healthcare, GE, Honeywell, Linde, Microsoft, Nvidia, Republican, Palo Alto Networks, Palo, Procter & Gamble, Procter, Gamble, Constellation Brands, Modelo, Stanley, TJX, Marshalls, Jim Cramer's Charitable, Traders, New York Stock Exchange, AFP, Getty Locations: Nvidia's, San Francisco, China, Dover, United States, industrials, OpenAI, Palo Alto, Wells Fargo
Following the trade, Jim Cramer's Charitable Trust will own 100 shares of HD, increasing its weighting in the portfolio to about 1.1% from roughly 0.56%. Rates will come down and activity should pick up after the Fed gets a few rate cuts under its belt. That, at least, is what Toll Brothers CEO Doug Yearley said on "Squawk on the Street" earlier Wednesday when speaking about 30-year fixed-rate mortgage rates and the luxury homebuilder's business. If Yearley is correct, then it won't be too long until mortgage rates are at a sweet spot where housing turnover really starts to pick up. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Jim Cramer's, Doug Yearley, it's, Yearley, Jim Cramer, Jim Organizations: Fed, Toll, CNBC
Traders work on the floor of the New York Stock Exchange during morning trading on September 04, 2024 in New York City. U.S. stock futures inched lower Wednesday night as investors brace for more inflation and labor data, following a volatile session spurred by the release of the August consumer price index. S&P 500 futures and Nasdaq 100 futures dipped 0.07% and 0.13%, respectively. Stocks dropped earlier in the day when August's consumer price index showed an uptick in core inflation, which excludes volatile food and energy prices. Wall Street is anticipating the release of the August producer price index on Thursday.
Persons: Stocks, Lauren Goodwin, CNBC's, — that's, Goodwin, Dow Jones, Kroger Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Investors, Dow, Fed, New York Life Investments, Adobe Locations: New York City . U.S
6:59 a.m.: Citi raises AT & T price target A wave of improving outlook for telecommunications could benefit shares of AT & T , according to Citi. The firm upgraded the telecommunications company to neutral from sell and left its $350 per share price target unchanged. "Although our 2028 EPS is still c16% ahead of consensus, we now see less scope for earnings outperformance 2024/2025," the analyst added. The firm upgraded the home furnishings stock to buy from hold and increased its price target to $156 per share to $148. His price target of $105, down from $122, implies upside of just 8.7% from Tuesday's close.
Persons: Goldman Sachs, Morgan Stanley, Jefferies, Michael Rollins, Rollins, — Brian Evans, Graham Parry, Parry, Sonoma Jefferies, William, Jonathan Matuszewski, Matuszewski, Brian Evans, Goldman Sachs downgrades Morgan Stanley, Richard Ramsden, Ramsden, Fred Imbert Organizations: CNBC, Williams, Citi, AT, JV, Apple, Communications Citi, Communications, Charter Communications, Bank of America downgrades Novartis Bank of America, Novartis, William, Elm, Brands, WSM, Goldman Sachs downgrades Morgan Stanley Investors Locations: U.S, Sonoma, Swiss, William, Tuesday's
In 2022, we started building a pickleball court due to a combination of factors. But I knew we wanted to rent the court out somehow, so I decided to give the app a shot. I've now started coaching pickleball, tooThompson built his court with a lump sum he received for entering retirement. Since I started renting the court, I thought this could be a little business for me. I got my pickleball teacher certification and started giving lessons on the court.
Persons: , Michael Thomspon, We've, pickleball, let's, Thompson, Michael Thompson, we've, it's, Michael Thompson I'm, I've Organizations: Service, Business, pickleball Locations: San Diego, Coronado
That's according to new data from Bevi, the maker of smart water coolers that many offices use. Bevi found attendance is highest on Tuesdays, Wednesdays, and Thursdays, but also increasing on Mondays and Fridays. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementEmployees are slowly but surely returning to the office, new data indicates. A report published Thursday by Bevi, the maker of smart water coolers found in many offices in the United States, finds an uptick in office attendance on every day of the week.
Persons: Bevi, , we've, Sean Grundy Organizations: Service, Employees, Business Locations: Bevi, United States
Brazil's recent ban of Elon Musk's social media platform X has boosted the profile of its smaller rival, Bluesky, as people search for alternatives to voice their opinions. On Saturday, the company also said that users from Brazil were setting new all-time highs for activity. The reported uptick in the platform's traffic comes after a Brazilian Supreme Court justice ordered a nationwide suspension of the X platform on Friday. A Supreme Court panel affirmed the ruling on Monday. X is estimated to have over 22 million users in Brazil.
Persons: Elon, Bluesky, Paul Frazee, We've, Alexandre de Moraes Organizations: Meta, Facebook Locations: Brazil
Gap raised its full-year profit outlook on Thursday after seeing better-than-expected results at its largest brand, Old Navy. The apparel company's fiscal second quarter results were released earlier than planned after the company "inadvertently" posted them to its website and then removed them, a Gap spokesperson told CNBC. Gap posted earnings of $206 million, or 54 cents per share, compared with $117 million, or 32 cents per share, a year earlier. The company's second-quarter results didn't blow away expectations, but are solid improvements from where the company was a year ago. Its gross margin came in better than forecast at 42.6%, ahead of the 40.8% that analysts had expected, according to StreetAccount.
Persons: Richard Dickson —, Dickson, They're, Here's Organizations: Navy, CNBC, NYSE, LSEG, Mattel, , Old Navy Locations: Old
BERLIN, GERMANY - SEPTEMBER 04: The Delivery Hero office photographed on September 04, 2020 in Berlin, Germany. (Photo by Jeremy Moeller/Getty Images)European food delivery firm Delivery Hero says it plans to spin off its Middle East business Talabat and float it on the Dubai stock exchange later this year. In a brief statement Thursday, Delivery Hero said that it is "preparing a listing of its Talabat business on the Dubai Financial Market" in the fourth quarter. "A listing may be pursued through a secondary sale of shares by Delivery Hero which would retain the majority interest in the local listing entity after an IPO," Delivery Hero said in a statement. Shares of Delivery Hero jumped nearly 10% Thursday on the back of the Talabat IPO news as of 7:30 a.m.
Persons: Jeremy Moeller, Niklas Ostberg Organizations: Getty, Dubai, CNBC Locations: BERLIN, GERMANY, Berlin, Germany, Dubai
Haidt and other researchers argue that technology and social media have led to an epidemic of isolation and loneliness. Surgeon General Vivek Murthy named social media as one of the main reasons young people feel more alone. "Social media is not this monolithic experience where everybody experiences the same thing," he says. Navigating an uncertain futureHaidt proposes a few solutions for Gen Z and their parents to curb social media and smartphone reliance. It followed an announcement by the Los Angeles Unified School District that it will ban student cellphone and social media use starting next year.
Persons: Jonathan Haidt, Vivek Murthy, Murthy, Haidt, Zach Rausch, Haidt's, Rausch, , Jeffrey Hall, Candice L, Odgers, That's, Mark Zuckerberg, Jennifer Breheny Wallace, Z, Kyle K, Moore, Wallace, that's, Orna, Guralnik Organizations: U.S, The, NYU's Stern School of Business, University of Kansas, Odgers, University of California, Affordable, Facebook, Meta, Social, Pew Research, Economic, Institute, Harvard University, University of Chicago, New, New York City Public Schools, Los Angeles Unified School District, CNBC Locations: U.S, defensiveness, United States, Irvine, New York City, New York
An uptick in sausage demand can offer the latest sign of consumers tightening their belts as they continue grappling with high prices. There has been "modest growth" in the dinner sausage category for one producer, according to the Dallas Federal Reserve's Texas Manufacturing Outlook Survey released Monday. "This category tends to grow when the economy weakens," the respondent said, according to edited comments included in the Dallas Fed's report. That is because "sausage is a good protein substitute for higher-priced proteins and can 'stretch' consumers' food budgets." This anecdote pointed out by eagle-eyed Bespoke Investment Group on social media site X comes as grocery prices remain top of mind for consumers.
Persons: Fred Meyer Organizations: Dallas Federal, Texas Manufacturing, Dallas Locations: Kroger, Palmer , Alaska, An
Quang attributes the unexpected virality to a digital trend that first appeared at the end of 2023: the office siren. AdvertisementGoogle Trends shows searches for the term "office siren" increased tenfold between the first week of May and the first week of August. The office siren is a polarizing character — a sexed-up appropriation of office wear, restyled and applied to contexts outside the office. "Obviously, I'm not wearing this to the office," Quang said. "The office siren is just a character I'm playing."
Persons: , Julia Quang, Aritzia, Zers, Quang, Josephine Hansom, Hansom, Gen, Kirsten Classi, Zummo, she's, Corey Robinson, Abercrombie &, it's, Robinson, Heather McLean, McLean, Nancy Deihl, Gen Z, I'm Organizations: Service, Business, Brands, Abercrombie, Abercrombie & Fitch, New York University Locations: Quang, Canadian, America
If Your Debt Is Ballooning, There Are Steps You Can Take
  + stars: | 2024-08-23 | by ( Ann Carrns | ) www.nytimes.com   time to read: +1 min
Americans are increasingly struggling with credit card debt and other loans, and consumers are paying more for basic banking services like A.T.M. And 42 percent of households carrying balances on credit cards reported that their overall debt level was “unmanageable,” up from 38 percent in 2022, the network found. More borrowers have been falling behind on credit card payments, especially those who have maxed out spending on their cards, according to the Federal Reserve Bank of New York. Making payments on credit cards as well as car loans, student loans and other installment loans has been increasingly challenging for consumers, the financial network found. (The analysis, which the network publishes annually, is based on public data and a nationally representative survey of consumers.)
Persons: , Hannah Gdalman Organizations: Financial Health Network, Federal Reserve Bank of New Locations: Federal Reserve Bank of New York
AdvertisementVMware customers report seeing massive price increases since Broadcom acquired VMware late last year, with some paying as much as 10 times as much for the same services. VMware price hikesDave Russell, senior vice president and head of strategy at Veeam, said his company saw a 300% price increase in the VMware products it's using. Hinkley said CloudBolt's customers have seen VMware price increases ranging from 140% to 600%. Hinkley said longtime VMware customers have spent years developing code and automation processes in their IT infrastructure specifically for running VMware products. Similarly, Virtuozzo CEO Alex Fine said over 200 providers approached his company as a result of the price increases.
Persons: , Craig Hinkley, Rick Vanover, David Rowe, Dave Russell, he's, Russell, Hinkley, they'd, Forrester, Rowe, We've, Steve Tuck, Renee Wells, Wells, Alex Fine, We're, Fine, Rajiv Ramaswami, Ramaswami, Rosalie Chan, Ashley Stewart Organizations: VMware, Service, Broadcom, VMware's, Microsoft, Gartner, Oxide Computer, Rimini, Dell, Nutanix Locations: Rimini, rosal
Private jet flights fell 15% in the first half of the year compared with their peak in 2022, as the industry grapples with waning demand and a new competitive landscape for high-end travel. Despite a short boost from the Summer Olympics, with a record 713 private jet flights to Paris the last week of July, the private jet industry continues to lose altitude this travel season. Jet It, a large U.S. private jet operator, shut down last year after grounding its fleet of Phenom 300s, Gulfstream G150s and HondaJets. Private jet passengers who paid six figures for flights started facing delays and cancellations as operators couldn’t buy or lease planes fast enough. “Prices are about 20% higher than they were in 2019,” Private Jet Card Comparisons' Gollan said.
Persons: Washington's, J, David Ake, Robert Frank, Covid, Rob Wiesenthal, George Mattson, VistaJet, Thomas Flohr, Doug Gollan, , Jay Duckson, , , I’m, Gollan, Travis Kuhn, “ It’s, ” Gollan, Berkshire Hathaway, ” Kuhn, Organizations: Gulfstream, Washington's Reagan National Airport, Getty, Private, Summer, Argus International, Blade Air Mobility, Delta Air Lines, CNBC, Industry, Central Business Jets, Companies, Jefferies, Argus, Berkshire Locations: Arlington , Virginia, Paris, U.S, Covid, Argus,
Read previewThe labor market is trending in the wrong direction, but it might not be time to sound the alarm just yet. The unemployment rate has risen for four consecutive months and at 4.3%, it's the highest it's been in nearly three years. However, there are some reasons it might be too soon to freak out about the labor market. AdvertisementSatyam Panday, chief US economist for S&P Global Ratings, said in a note published on August 6 that the slowing labor market appears to suggest a "normalization" of a previously red-hot labor market, rather than an "economy that's about to slip into a recession." The labor market might get worseTo be sure, there are plenty of reasons to remain concerned about the state of the labor market.
Persons: , there's, it's, Goldman Sachs, David Mericle, Manuel Abecasis, they've, It's, Goldman Sachs that's, Satyam Panday, Michael Gapen, JP Morgan, Claudia Sahm Organizations: Service, Federal Reserve, Business, Bureau of Labor Statistics, Labor Department, Federal, Satyam, Bank of America, Federal Reserve Bank of San Francisco, New Century Advisors Locations: US
After Democrats’ long-held edge, Team Trump starts to close the battleground ad spending gapBy Ben KamisarIf you live in a swing state and are already sick of seeing presidential campaign ads, buckle up. Over that same period of time, the Trump campaign spent less than $230,000. But over the last two weeks, a dramatic shift from the Trump campaign has helped close the gap. It has spent a total of $13 million in those key states, compared to $16.5 million from the Harris campaign. But we’ve written before about how Republicans have cut into the Democrats’ fundraising edge, and these ad spending numbers show the fruits of that effort.
Persons: Ben Kamisar, Alex Tabet, , Team Trump, Donald Trump’s, Joe Biden, Kamala Harris, Trump, Harris, Biden, they’ll, it’s, Ruben Gallego, “ Ruben Gallego, David Hathaway, Kari Lake, Gallego, , ” Gallego, Nasr, ted Auto W, ged Organizations: NBC, White House, Capitol, Phoenix, Democratic, Team, Republican, Republican National Convention, Trump, Biden, Democrats, Democratic Rep, Arizona Senate, GOP, NBC News, rac Locations: Arizona, Georgia, Michigan, Nevada , Pennsylvania, Wisconsin, Mexico, Santa Cruz County, It’s
To start, the major funds that are marketed as "low volatility" or "minimum volatility" have been living up to the label. JPMorgan Asset Management has been a leader in this area, with Equity Premium Income ETF (JEPI) and Nasdaq Equity Premium Income ETF (JEPQ) now holding more than $48 billion in combined assets, according to FactSet. Another area is preferred stock funds. The biggest preferred stock ETF, the iShares Preferred & Income Securities ETF (PFF) , has gained 0.5% in the third quarter, though it has dipped 1.4% over the past month. "And those call features of a growing part of the preferred market has also helped in terms of the rate volatility and the impact."
Persons: Robert Hum, It's, it's, Hum, Yang Tang, John Burrello, Gary Kessler, Dodd Frank, Kessler Organizations: Trust, JPMorgan Asset Management, Nasdaq Equity, Nasdaq, Income Securities ETF, Goldman Sachs Asset Management, Preferred, Hybrid Securities, Federal Reserve Locations: BlackRock
Here are the biggest calls on Wall Street on Tuesday: Wells Fargo initiates Rollins as overweight Wells says it's bullish on shares of the pest control company. Goldman Sachs reiterates Disney as buy Goldman said it's sticking with its buy rating following Disney's biennial D23 fan event in California. " Wells Fargo initiates ITeos Therapeutics at overweight Wells said in its initiation of coverage into ITeos that the biotech company has multiple catalysts ahead. Bank of America reiterates Lyft as buy The bank said the ride sharing company is trading at a "significant discount." Wells Fargo reiterates Home Depot as overweight Wells says investors should buy the dip in Home Depot shares following earnings Tuesday morning.
Persons: Wells, Rollins, it's bullish, Goldman Sachs, Goldman, Bernstein, WBD, BTIG, Eli Lilly, Stifel, Lyft Organizations: Wells Fargo, Disney, UBS, JPMorgan, Netflix, Mizuho, Palo Alto, Barclays, Dell, DELL, Citi, Sales, Warner Brothers Discovery, ITeos, " Bank of America, Bank of America, Co, McCormick &, Depot, Amazon Locations: California, Turkey
Meanwhile, Mizuho raised its price target on Palo Alto Networks ahead of the company's upcoming earnings release. But Grambling shaved $4 off his price target to $47, though that still implies 57.5% upside from Monday's close. Long kept his price target unchanged at $97, which reflects just 1.8% in upside over Monday's closing price. Analyst Laurent Yoon downgraded the media stock to market perform from outperform and shaved $2 off his price target to $8. Analyst Gregg Moskowitz raised his price target on the cybersecurity stock to $380 from $350, maintaining his outperform rating.
Persons: Bernstein, Mizuho, Rollins, Wells Fargo, Jason Haas, Haas, — Alex Harring, Thomas Palmer, Palmer, Morgan Stanley, DraftKings, Stephen Grambling, Grambling, Alex Harring, Tim Long, Long, Dell, Damian Karas, Karas, " Karas, Warner, Laurent Yoon, Yoon, Discovery's Turner, Gregg Moskowitz, Moskowitz, Fred Imbert Organizations: CNBC, Warner Bros, Palo Alto Networks, Hormel Foods, Citi, Hormel, Planters, Grambling, DraftKings, Barclays, Dell, Nasdaq, UBS, Discovery, NBA, Discovery's Turner Sports, Mizuho Locations: Wells Fargo, Monday's, Southern, Grambling, Palo Alto
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. There were many Wall Street upgrades of Starbucks stock following the change. Jim Cramer said he's happy about the switch and remains committed to Starbucks shares. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Morgan, Laxman Narasimhan, He's, Brian Niccol, he's, Jim, Mizuho, Morgan Stanley, Palo, Jim Cramer's Organizations: CNBC, Federal Reserve, Nasdaq, Tuesday's PPI, Nvidia, Starbucks, Palo Alto Networks Locations: Palo Alto
Here are Monday's biggest calls on Wall Street: UBS reiterates Nvidia as buy UBS said it's sticking with Nvidia shares heading into earnings later this month. Wolfe downgrades Qualcomm to peer perform from outperform Wolfe said Apple's internal modem use is finally having an effect on Qualcomm. Jefferies upgrades Par Technology to buy from hold Jefferies said it's bullish on shares of the "pure-play" restaurant tech platform. " Deutsche Bank upgrades Eli Lilly to buy from hold Deutsche upgraded the stock following earnings last week. Bank of America upgrades Churchill Downs to buy from neutral Bank of America said it likes the racing company's growth pipeline.
Persons: Morgan Stanley, Disney, it's, Wolfe, Qualcomm, Wedbush, it's bullish, Jefferies, Walmart Evercore, Piper Sandler, Piper, HOOD, Goldman Sachs, Mills, Goldman, Canaccord, Mizuho, Cummins, Wells, PRU, Eli Lilly, Churchill, Jim Anderson Organizations: UBS, Nvidia, RBC, Ardent Health, Ardent Health Partners, Inc, Qualcomm, Jefferies, Technology, Walmart, HSBC, GE Vernova, GE, Micron, MU, Elliott, Bank of America, Liberty Global, underperform Bank of America, Liberty, Prudential, Allstate, Deutsche Bank, Deutsche, of America, " Bank of America Locations: Asia, Cupertino, Wells, Churchill
These women talk openly about being rich and wanting to help other women become rich too. She also launched a platform called Treasury, which says it has helped women invest over $80 million in the stock market. "I couldn't really find anyone who was teaching money the way that I wanted to learn it," Sacks said. And it's probably getting really smart about how you save money, taking the money that you are saving and investing it and building wealth." Young women, on the other hand, are turning to more tried-and-true tactics.
Persons: Dave Ramsey, Tori Dunlap, It's, Dunlap, Dow Jones, Simran Kaur, Rachel Rodgers, Z, Kaur, Zers, Haley Sacks, Sacks, Cartier, Kylie Jenner, Suze Orman, it's, they're, Rita Soledad Fernández Paulino, Leah Sheppard, Gen Zers, , Rita Soledad Fernández Paulino Sacks, Kyla Scanlon, Scanlon, aren't, Fernández Paulino, weren't Organizations: Economic, Institute, Washington State, Carson College of Business, GameStop, Fidelity Investments, Federal Reserve's Survey, Consumer Finances Locations: Tacoma , Washington, Dunlap, Instagram, Zealand, York, California
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