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5 big questions about how tech will look under Trump
  + stars: | 2024-11-29 | by ( Clare Duffy | ) edition.cnn.com   time to read: +10 min
He sought to swat down legal protections for tech platforms. Many Republicans are eager to see the Trump administration address what they see as “censorship” of right-leaning voices by many mainstream social media platforms. That could mean reforming or reinterpreting Section 230, which shields tech platforms from liability for their users’ posts and allows the platforms to moderate content as they see fit. In essence, Carr could attempt to pass a rule that would make it possible to sue tech platforms under that new interpretation. Ultimately, that could mean hamstringing tech companies’ efforts to reduce hateful or false content on their platforms.
Persons: Trump, Donald Trump, – —, Trump’s, TikTok, Mark Zuckerberg, He’s, it’s, Elon Musk, Will TikTok, , he’ll, Shou Zi Chew, Kent Nishimura, Alan Rozenshtein, ” Rozenshtein, You’re, doesn’t, isn’t, Will Trump, … we’ve, ” Musk, Joe Biden, Biden, , John Villasenor, Brendan Carr, Carr, Gigi Sohn, Tom Wheeler, Evan Greer, Lina Khan, JD Vance, Musk, Khan, Tayfun, – Khan, ” Villasenor, ” Greer, Republican Sen, Marsha Blackburn of, Democratic Sen, Richard Blumenthal, Mike Johnson Organizations: New, New York CNN, Google, Big Tech, Trump, Bloomberg, Getty, University of Minnesota, Apple, CNN, , Fox News, Republican, UCLA Institute for Technology, Law, Federal Communications Commission, FCC, Democratic, Federal Trade Commission, Biden, White, Trump White House, Microsoft, Activision Blizzard, Kroger, Albertsons, FTC, Department, DOJ, TV, Senate Locations: New York, United States, , Washington ,, Marsha Blackburn of Tennessee, Connecticut
A London-based hedge fund is betting against Cargojet , Canada's largest cargo airline, citing concerns about the company's aging fleet, accounting practices, and leadership style. Allen also claimed that the company has failed to update the age of its aircraft fleet. The Toronto-listed shares of the company have struggled this year, posting a 2% gain while the broader Canadian stock market has risen by nearly 25%. At the time of Allen's presentation slide titled "Cargojet is expensive," the stock was trading at 27 times earnings and 3.5 times tangible book value. In comparison, traditional airline Lufthansa trades at 7 times earnings, and United Airlines is valued at 9 times earnings estimate.
Persons: Edgar Allen, Ajay Virmani, Allen, they've, Cargojet, They've, Konark Gupta, Gupta, Allen's Sohn, Walter Spracklin, Fadi Chamoun, Chamoun, Drake, Elon Musk, Virmani Organizations: Cargojet, Investment Management, Sohn, United Parcel Service, Federal Express, CNBC Pro, CNBC, Scotiabank, RBC Capital Markets, BMO Research, Lufthansa, United Airlines, Elon Locations: London, Ontario, CJT, Toronto
London-based hedge fund Granular Capital has revealed a renewed interest Borr Drilling , saying the offshore drilling company's shares could increase by up to 300% or 400%. The hedge fund's thesis centers on Borr's fleet of 24 modern jack-up rigs – specialized vessels used to maintain oil and gas production in shallow waters. Additionally, about one-third of the global jack-up fleet is approaching or has exceeded retirement age, suggesting a likely decrease in available equipment going forward. Singapore, which previously constructed 50% of global jackup rigs, has largely converted its manufacturing capacity to other uses. This week, Seatrium signed an agreement with India's Cochin Shipyard to build jack-up rigs, potentially at a lower cost in the future.
Persons: Thiago Mordehachvili, there's, Mordehachvili, Tor Olav Trøim, Sebastian Grindheim, Borr, Truls Olsen, Evercore, Jason, Granular's Mordehachvili, Seatrium Organizations: Borr, Sohn Conference, NYSE, Arctic Securities, Exxon Mobil, Valeura Energy, Fieldwood Energy, FactSet, Fearnley Securities, CNBC Pro, Keppel Offshore, India's, Shipyard Locations: Norway, Saudi Aramco, Malaysia, Thailand, Mexico, Mordehachvili, Singapore
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRisk that Nvidia's 'over-earning' will come to an end over next few quarters, says strategistWilliam de Gale, lead portfolio manager BBGT & Islamic BBGT Funds at BlueBox Asset Management, discusses Nvidia and the global tech and AI investment space from the Sohn Investment Conference in London.
Persons: William de Gale Organizations: BBGT, Islamic, Asset Management, Nvidia, Sohn Investment Locations: London
AdvertisementSpeaking at the Sohn conference in London, Muddy Waters founder Carson Block said he was short E.L.F Beauty. Notorious short-seller Carson Block has a new target: discount cosmetics company E.L.F. AdvertisementUsing import data and referencing conversations the Muddy Waters founder and his team had with E.L.F. "Its reported inventory also appears materially inflated as a result — i.e., to account for cash that has not really come in." AdvertisementBlock and his firm, Muddy Waters, have been a thorn in the side of plenty of companies, big and small.
Persons: Muddy, Carson Block, E.L.F, Block, Muddy Waters, Block's, Blackstone Organizations: Sohn, Muddy Waters, Sohn Conference Locations: London, California, Muddy, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Gradual electrification' is becoming more common in the auto industry, says fund managerMikhail Zverev, fund manager at Amati, discusses the electric vehicle industry with CNBC at the Sohn conference.
Persons: Mikhail Zverev, Amati Organizations: CNBC, Sohn
Options on BlackRock's popular iShares Bitcoin Trust ETF (IBIT) began trading on the Nasdaq Tuesday, ushering in a new way to trade and speculate on the price of bitcoin. IBIT traded 73,000 options contracts in the first 60 mins of trading Tuesday, Nasdaq told CNBC, placing the fund in the top 20 of the most active nonindex options. The market for options contracts on major ETFs can be extremely active, and are widely used by more sophisticated traders. The launch of the bitcoin ETF options will likely also lead to new funds that incorporate those options, said Todd Sohn, ETF strategist at Strategas. And then we're going to get buffers, and then we're going to get whatever other trend-following-type strategy that folks think of.
Persons: IBIT, Bitcoin, Noelle Acheson, Todd Sohn, " Sohn Organizations: Nasdaq, CNBC, Interactive, Trust, BlackRock Locations: U.S
New York CNN —President-elect Donald Trump’s pick for chairman of the Federal Communications Commission, Brendan Carr, wasted no time in stating his priorities on Sunday night. Carr is now the senior Republican at the agency, which meant he was widely expected to get the chairman appointment. As chairman, Carr may be able to steer generous federal subsidies to Starlink. In his Project 2025 chapter, Carr laid out an agenda for the federal agency under a future Trump administration. The FCC chairman during Trump’s first term in office, Ajit Pai, had a very different set of priorities.
Persons: Donald Trump’s, Brendan Carr, Carr, ” Carr, Elon Musk, , Trump, NewsGuard, hasn’t, “ Carr, Gigi Sohn, Tom Wheeler, Trump’s, Ajit Pai, Pai, Jessica Rosenworcel, can’t Organizations: New, New York CNN, Federal Communications Commission, FCC, Democrats, Republican, Politico, Elon, Facebook, Twitter, Meta, Microsoft, Apple, Trump, Communications, Free Press, Democratic, Democrat Locations: New York, Big Tech
"For example, during Trump's previous administration, deregulation in the energy sector boosted oil and gas stocks, benefiting energy ETFs." Aggregate Bond ETF (AGG) and Vanguard Total Bond Market Index Fund ETF (BND), two of the world's largest bond ETFs, and longer-term funds like iShares 20+ Year Treasury Bond ETF (TLT). Crypto ETFS having big year and getting bigger Since launching in January, crypto ETFs have attracted roughly $70 billion in assets, one of the most successful ETF launches ever. Bitcoin ETFs including the iShares Bitcoin Trust (IBIT), the largest bitcoin ETF by assets under management, have seen significant inflows since October. Rosenberg at Texas Capital acknowledges that certain ETF sectors, like industrials ( Vanguard Industrials Index Fund ETF , or VIS; iShares U.S. Industrials ETF , or IYJ), "could be hurt by more tariffs."
Persons: Trump, Tom Lydon, John Davi, iShares Russell, ROE, Matt Bartolini, Bartolini, Gavi, Edward Rosenberg, Gary Gensler, Michael Novogratz, Cathie Wood, Todd Sohn, Wood, Davi, Rosenberg, industrials Organizations: Astoria, CNBC, Potential Trump, Bank ETF, Assets ETF, Trump, ETF Research, Street Global Advisors, Regional Bank ETF, Treasury, Aggregate Bond, Vanguard, Fund, Treasury Bond ETF, Texas, SEC, Commodity Futures, Galaxy Digital Holdings, ARK, Innovation, ARKK, Downside, China ETF, Texas Capital, Index, Industrials, U.S, Edge Locations: Astoria, Congress, rulemaking, Coinbase, China, Mexico
The ETF industry is gearing up for some potentially seismic changes in 2025 and beyond. Policy changes from the SEC are hard to predict, but the ETF industry appears to sense an opening to push new types of products. Private credit funds One big area of focus for the ETF industry is how to tap into the private credit boom that has become a key part of the U.S. financial system. Fund issuers will need the SEC to bless new types of constructions in order to get a private credit fund approved. "For the most part, private credit is an investment that is limited to sophisticated investors and not retail investors," said Brian Murphy, a partner at law firm Stradley Ronon.
Persons: Republican Donald Trump, Gary Gensler, Kamala Harris, Todd Sohn, Brian Murphy, Stradley, You've, Gerard O'Reilly, What's, Matt Hougan, Harris, Sohn, " Sohn, Bitwise Organizations: Republican, Securities, Exchange, Democratic, SEC, State, Vanguard, BlackRock, Trump, solana
David Einhorn speaking at the 2024 Sohn Conference in New York City on April 3, 2024. Shares of Peloton spiked more than 11% on Wednesday after Greenlight Capital's David Einhorn said shares of the company are significantly undervalued, CNBC has learned. It was not immediately clear what Einhorn believed Peloton shares should trade at. He made the case for the company as he was riding a Peloton bike, a person familiar with his remarks said. Peloton did not immediately respond to CNBC's request for comment.
Persons: David Einhorn, Greenlight Capital's David Einhorn, Einhorn, Barry McCarthy Organizations: CNBC, Robin Hood Investors, Greenlight, Costco Locations: New York City
But as we wind down 2024, one thing appears clear: The naysayers on Team Hard Landing got it wrong. The “soft landing” versus “hard landing” metaphor — perhaps overused but visually handy — refers to the economy as an airplane and the Fed as the pilot. Pull the right levers at the right time, and you get a nice comfortable soft landing, with inflation cooling and the labor market thriving. He was far from alone in thinking that a soft landing was little more than a fantasy. “We should just drop the soft landing versus hard landing discourse and start talking about a robust expansion at mid-cycle,” Joe Brusuelas, chief economist at RSM, told Schwab Network in an interview.
Persons: CNN Business ’, everyone’s, , Sung Won Sohn, we’d, ” Aaron, , there’s, Justin Wolfers, Bill Dudley, “ I’ve, Dudley, Larry Summers, they’re, Joe Brusuelas Organizations: CNN Business, New York CNN, Loyola Marymount University, Fed, . Upjohn Institute, Employment Research, ICYMI, Bureau of Labor Statistics —, Federal Reserve Bank of New, Bloomberg, RSM, Schwab Network Locations: New York, Federal Reserve Bank of New York
As a result of that excitement, China ETFs are dominating the list of top performing funds in September, according to FactSet. The iShares MSCI China ETF (MCHI) was up about 22% on the month, while the KraneSharesCSI China Internet ETF (KWEB) was up more than 32%. Other top performers include the Global X MSCI China Consumer Discretionary ETF (CHIQ) and the Invesco Golden Dragon China ETF (PGJ) , with September gains of roughly 32% and 30%, respectively. The MSCI China Index's total annualized return during that period is under 1%. The average here is a gain of +78% over 176 trading days vs. a decline of -42% over 165 trading days," the note continued.
Persons: Todd Sohn, David Tepper, there's Organizations: People's Bank of, CSI, China Internet, Dragon China Locations: People's Bank of China, China, U.S
But broadband companies have been focused on transitioning their customers to other affordable options to help them make up the expired discount, according to the companies’ earnings calls. In the wake of the ACP’s expiration, broadband companies have reported losing some customers. While broadband providers were generally supportive of the ACP, many in the industry believed the subsidy benefitted too wide a swath of U.S. households. During the second quarter, Charter reported a loss of 149,000 internet customers, while Comcast reported a decline of 120,000 broadband customers. Charter has tried to retain its low-income consumer base by rolling out new savings deals like offering ACP customers a free unlimited mobile line for one year.
Persons: , , Craig Moffett, , Blair Levin, Mike Carey, Nikki Budzinski, GOP Sen, JD Vance, Ohio, Donald Trump’s, Vance quieted, ” Gigi Sohn, Joe Biden, Sohn, Wall, they’re, ” Sohn, ” Carey, ” Budzinski, Chris Winfrey, “ We’ve, ” Moffett, MoffettNathanson, Gigi Sohn’s Organizations: Charter, Verizon, Comcast, Program, Federal Communications Commission, Democratic, Republican, Street Research, CNBC, NBC News, Capitol, Republicans, Emergency, GOP, Republican House, ACP, FCC, , Universal Service Fund, USF, Charter Communications Locations: MoffettNathanson, Ohio, U.S, New York
In the wake of the ACP's expiration, broadband companies reported losing some customers. "But that doesn't take away from the families for whom this was important, and could now lose access to broadband." Pete Marovich | ReutersStill, Sohn believes bipartisan support for the ACP should make reauthorizing it a political slam dunk for Democrats. While broadband providers were generally supportive of the ACP, many in the industry believed the subsidy benefitted too wide a swath of U.S. households. Charter Communications CEO Chris Winfrey said in July that the ACP's expiration impacted both losses and low income broadband connections after the company had "put a lot of effort into the ACP program."
Persons: Craig Moffett, Blair Levin, Mike Carey, Nikki Budzinski, GOP Sen, JD Vance, Ohio, Donald Trump's, Vance quieted, Gigi Sohn, Biden, Pete Marovich, Sohn, Wall, they're, Carey, Budzinski, Chris Winfrey Organizations: Istock, Getty, Charter, Verizon, Comcast, Program, Federal Communications Commission, Democratic, Republican, Street Research, CNBC, Capitol, Republicans, Emergency, GOP, Republican House, ACP, Commerce, Science, Washington , D.C, Reuters, Universal Service Fund, USF, Charter Communications Locations: MoffettNathanson, Ohio, Washington ,, U.S, New York
CAIRO — The splendor of the Queen of the Nile is the star not of any Egyptian museum, but of the Neues Museum in the German capital, Berlin, where thousands admire the 3,400-year-old bust of Nefertiti every day in a domed hall. Therefore, the home of the bust should be the Grand Egyptian Museum. The Nefertiti bust on display at the Neues Museum in Berlin. The Neues Museum did not respond to a request for comment. In July, the New York Museum of Metropolitan Museum of Art returned more than a dozen Cambodian artifacts.
Persons: Nefertiti, Zahi Hawass, ” Hawass, Hawass, Michael Sohn, Pharaoh Akhenaten, Akhenaten, — Hawass, Hitler, , Mona Lisa, , Rosetta Stone, , Napoleon, Charlene Gubash, Mithil Organizations: Neues Museum, Egyptian Museum, , El, Houston Museum of Natural Sciences, Associated Press, New York Museum of Metropolitan Museum of Art, British Museum Locations: CAIRO, Berlin, Germany, Egypt, Tell, Cairo, Nefertiti's, “ Egypt, London, Alexandria, Louvre, Paris, Hong Kong
ETFs on pace for record inflows
  + stars: | 2024-08-30 | 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 EmailETFs on pace for record inflowsTodd Sohn, technical strategist at Strategas Securities, joins CNBC's Bob Pisani on the 'Halftime Report' to discuss how ETF investors are setting up for 2025 and the inflows into megacap and small-cap stocks.
Persons: Todd Sohn, Bob Pisani Organizations: Strategas Securities Locations: megacap
Market correction has more room to run, says Goldman Sachs
  + stars: | 2024-08-06 | by ( Hakyung Kim | ) www.cnbc.com   time to read: +1 min
Tuesday's market rebound doesn't mean the market is yet in the clear — instead, investors should brace for more market volatility following Monday's global sell-off, according to Goldman Sachs chief global equity strategist Peter Oppenheimer. The S & P 500 rose 1.04% on Tuesday in a broad relief rally that lifted all 11 of its sectors. Nonetheless, the correction hasn't yet fully run its course, Oppenheimer told CNBC's " Squawk on the Street " on Tuesday. However, Oppenheimer doesn't necessarily think the correction is bad for the market. According to Strategas strategist Todd Sohn, Monday's spike in the volatility index could be a positive omen for equities in the medium term.
Persons: Goldman Sachs, Peter Oppenheimer, Oppenheimer, CNBC's, We're, He's, Todd Sohn, Sohn Organizations: Nasdaq, Dow
Cash has poured into money market funds since the Federal Reserve began its rate hiking cycle. Short-term debt has been a popular investment over the past few years, and money market funds are a top example. For perspective, there was roughly $4 trillion in total money market funds as of the fourth quarter of 2019, according to the St. Louis Fed . Money market funds hold very short-term debt, and many currently offer a yield above 5%. "Historically, you don't tend to see money market inflows stop or convert to outflows until you get below say 3% on those rates.
Persons: Cash, Louis Fed, Sam Huszczo, Huszczo, Todd Sohn, Ken Brodkowitz, weren't, Brodkowitz, Strategas, Sohn, " Sohn, Callie Cox, Cox Organizations: Federal Reserve, Investment Company Institute, SGH Wealth Management, Federal, Bond, SEC, Gries Financial Partners, Fidelity, Income, Morningstar, US Treasury, Ritholtz Wealth Management, Ritholtz Locations: Detroit , Michigan, BlackRock
This month's market rotation into small caps is being led by a rebound in cheap stocks. According to FactSet, three of the top five small-cap exchange-traded funds in July are explicitly focused on value, including the iShares US Small Cap Value Factor ETF (SVAL) . That fund was up 11.4% for the month through Wednesday, compared to 7.4% for the broader iShares Russell 2000 ETF (IWM) . Investors can account for profitability by looking for stocks with lower price-to-earnings ratios, one of the metrics captured by many value funds. Screening for value stocks can sometimes miss areas of trouble in the market.
Persons: FactSet, ProShares Russell, Sean O'Hara, O'Hara, Todd Sohn, Sohn Organizations: Growers, Companies
The Astoria US Equal Weight Quality Kings ETF (ROE) , which launched in 2023, is up 17.6% year to date through Tuesday's close, according to FactSet. By comparison, the Invesco S & P 500 Equal Weight ETF (RSP) and iShares MSCI USA Equal Weighted ETF (EUSA) are up 9.7% and 10.1%, respectively. ROE YTD mountain This equal weighted ETF is outperforming some of its rivals in 2024. The Astoria fund is underperforming some other funds that focus on quality, like the iShares MSCI USA Quality Factor ETF (QUAL) . The Astoria fund also has a higher expense ratio than some of its rivals at 0.49%.
Persons: John Davi, ROE, Davi, Frank Tedesco, Todd Sohn Organizations: Astoria, RSP, EUSA, Nvidia, Big Tech Locations: ROE
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's a lot of opportunity away from mega-cap growth, says Strategas' Todd SohnTodd Sohn, Strategas Research Partners technical strategist, joins 'Squawk Box' to discuss the latest market trends, state of the tech sector, why he believes a 'durability issue' could emerge if mega-cap stocks keep rising without support from other stocks, and more.
Persons: Strategas, Todd Sohn Todd Sohn Organizations: Strategas, Partners
Stephane De Sakutin/AFP/Getty Images Merchandise featuring Beijing mascot Bing Dwen Dwen, the 2022 Winter Olympics mascot, has been extremely popular. MARTIN BERNETTI/AFP/AFP via Getty Images Rio 2016 Olympic mascot Vinicius was selected four years before the Games kicked off. Rudi Blaha/AP Syd the platypus, Millie the echidna and Olly the kookaburra, helped represent the Sydney 2000 Olympic Games. Amicar de Leon/AP The Albertville Olympic Games in 1992 was cheered on by a star-shaped gnome-looking character. International Olympic Committee In pictures: Olympic Mascot History Prev NextTo find a worthy representative, each host country will typically organize a submission call-out or contest.
Persons: snowmen, Aline Lafargue, , Lafargue, Stephane De Sakutin, Bing Dwen Dwen, Lintao Zhang, Maja Hitij, MARTIN BERNETTI, Vinicius, Alex Ferro, Andrej Isakovic, Mo Farah, Adrian Dennis, Jeff Vinnick, Amy Sancetta, Michael Sohn, Rudi Blaha, Syd, Olly, Claro, Eric Draper, Izzy Whatizit, Ross Kinnaird, Michel Euler, Amicar de Leon, Nicolas Le Corre, David Cannon, Sam, Eagle, Tony Duffy, Howdy, Dieter Endlicher, Misha, Armin Weigel, AP Shuss, Iris, , Millie Organizations: CNN, Olympic Games, International Olympic Committee, Grenoble Winter, Getty, Tokyo, Games, Reuters, Sochi, Getty Images Beijing, Winter Games, Sydney, Lillehammer Games, Albertville Olympic, Disney, International Olympic, Moscow's, AP, Dachshund, Olympics, Olympic, International, Sochi Winter Games, Angeles Summer, London Games, Soyuz Locations: France, Paris, AFP, Beijing, Vancouver, Canada, China, Turin, Italy, Athens, Salt Lake, Snowbasin , Utah, Claro Cortes, Japan, EMPICS, Barcelona, Barcelona's Port, South Korea, Sarajevo's Yugoslavia, Calgary , Alberta, Lake Placid, Munich, Innsbruck, Kitzbuhel, Austria, Algonquin, Russia, Sydney, Australia
The best-performing exchange-traded funds in the second half will likely be decided by broader shifts in the markets and economy. Even with mounting uncertainty, however, there are some types of ETFs that could emerge as winners. Equities A handful of stocks were big winners in the first half, and some narrowly focused ETFs were able to ride that wave. Single-stock funds tied to Nvidia have also seen heavy interest, including the GraniteShares 2x Long Nvidia ETF (NVDL) . However, Hougan said he didn't think that omission would be a big hurdle for ETF investors.
Persons: Michael Arone, Arone, Jay Jacobs, Jacobs, Todd Sohn, bullish, we're, Sohn, Matt Hougan, Hougan Organizations: Federal Reserve, U.S, SPDR, State Street Global Advisors, Nvidia, Microsoft, NYSE Technology, iShares, Digital Infrastructure, Real, U.S . Tech, Blackstone Senior Loan, Loan Fund, New, Bitwise Asset Management, ETH Locations: U.S
Weight loss now its own segment... with its own ETFs?
  + stars: | 2024-07-01 | by ( Bob Pisani | ) 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 EmailWeight loss now its own segment... with its own ETFs? Maurits Pot, Tema CEO and founder, joins CNBC's Bob Pisani on 'ETF Edge' to discuss the company's GLP-1, Obesity and Cardiometabolic ETF, which invests in weight loss stocks. Todd Sohn, Strategas ETF & Technical Strategist, also joins the conversation.
Persons: Maurits, Bob Pisani, Todd Sohn Organizations: Tema, Technical Locations: Maurits Pot
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