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The new market theory was that investors would sell some of their high-flying technology winners and buy small cap laggards primed for a comeback when the Federal Reserve begins cutting rates. But on Thursday, the tech-heavy Nasdaq Composite lost more than 2% , and the Russell 2000 small-cap benchmark lost even more. "If you look in small caps, they don't have their earnings follow through. The senior global market strategist said he's unfavorable on small caps as the stocks lack strong fundamentals and many fail to generate a profit. The Russell 2000 Index of small-cap stocks gained 10.10% in July, posted its best monthly performance since December 2023, when it gained 12.05%.
Persons: Russell, Phillip Colmar, Sameer Samana, it's Organizations: Federal Reserve, Nasdaq, Partners, Wells Locations: Colmar, Wells Fargo, Samana
"More and more people will realize that this [Global Access Solutions] was a good acquisition," Jim Cramer said Monday. To revive its lagging stock, management must also figure out which businesses are better on their own — kind of like the split announced last month by fellow Club stock DuPont . Honeywell stock has dropped 4.6% year-to-date. Smaller units have struggled like Building Automation, where management hopes to get a lift from Global Access Solutions. The Global Access Solutions deal, which was his biggest move to date, closed in the month of his first anniversary as chief exec.
Persons: Carrier, Jim Cramer, RTX, Jim, Vimal Kapur, Jim Cramer's, Michael Nagle Organizations: Honeywell, Club, DuPont, Solutions, Wall Street, Honeywell's Aerospace Technologies, DD, CNBC, Honeywell International Inc, New York Stock Exchange, Bloomberg, Getty Locations: New York
Gold prices were poised for their biggest weekly jump in five months on Friday, hovering near a historic high, as Federal Reserve Chair Jerome Powell's remarks cemented mid-year rate cut bets, ahead of a key jobs report later in the day. Gold prices surged to another record high on Friday as data showing a rise in the U.S. unemployment rate boosted expectations that the U.S. Federal Reserve could begin cutting interest rates soon. Low interest rates are supportive for gold prices as they reduce the opportunity cost of holding bullion. Gold prices will continue to trend higher overall, though a short consolidation may be necessary," said Tai Wong, a New York-based independent metals trader. Meanwhile, London's gold price benchmark hit another record high of $2171.30 per troy ounce at an afternoon auction on Friday, the London Bullion Market Association (LBMA) said.
Persons: Jerome Powell's, Bullion, Gold, David Meger, Tai Wong Organizations: U.S . Federal Reserve, High, Treasury, Traders, London Bullion Market Association Locations: U.S, New York
Read previewA small stone tube found among the remains of a mysterious Bronze Age culture could be the oldest known example of lipstick. That could make it the earliest example of lip paint ever found. AdvertisementA colorised picture shows the mineral composition of the paste found inside the tube, which scientists say is similar to modrn-day lipstick. AdvertisementFor Baysal, it makes sense that red paste is similar to modern-day cosmetics that would have been found millenia in the past. She said, however, that more research will be needed before we can confidently call the stone tube a lip paint container.
Persons: , Massimo Vidale, Vidale, Emma Louise Baysal, wasn't, Jiroft Organizations: Service, Business, University of Padua, al, Ankara University Locations: Iran's Jiroft, Italy, Egypt
A single genetic tweak that occurred among our ancestors 25 million years ago means humans today are unable to grow a tail, according to a new study. Scientists knew that a gene called TBXT was involved in the snipping of the tail. Asep Supriatna/Getty ImagesWandering DNA snipped off our tailsThe solution, they found, was in a type of "jumping gene" called an Alu element. Scientists found two Alu elements around a part of the TBXT gene, called Exon 6. Scientists tested their findings by inserting Alu sequences in mice.
Persons: , Himanshu Sharma, it's, we've, Asep Supriatna, Miriam Konkel, Emily Casanova, Konkel, Casanova Organizations: Service, Business, Anadolu Agency, Getty, NYU, Grossman School of Medicine, Nature, NYU Grossman School of Medicine, Science Locations: Pushkar, Rajasthan, India
Scientists have managed to extract evidence from an ancient fossil of early life on Earth. Studying these samples can reveal clues about life on Earth over 3.4 billion years ago. Life on Earth more than 3 billion years agoScientists think that life on Earth began around 4.3 billion years ago, but tracking down evidence dating back to that time is a difficult task. Still, by drilling straight into ancient rock, scientists have found peculiar, carbon-rich layers in several cores taken from around the world. And what they've found is that Earth was already teaming with life more than three billion years ago.
Persons: Frances Westall, Reinhardt, et, it's, Westall Organizations: Service, University of Göttingen, French National Centre for Scientific Research, New, Google, Research Locations: South Africa, Germany, Pilbara, Australia
Qatar Pauses Red Sea Tankers After Western Strikes on Houthis
  + stars: | 2024-01-15 | by ( Jan. | At A.M. | ) www.usnews.com   time to read: +3 min
In the latest shift by a major firm, state-owned QatarEnergy has held at least four LNG tankers back from the Red Sea, a senior source said, adding that production continues. On Monday, carmaker Suzuki said production would halt at its Esztergom plant in Hungary from Jan. 15-21 as the Red Sea attacks had delayed the arrival of Japanese-made engines. U.S. ally Britain said it had no desire to be involved in a Red Sea conflict but was committed to protecting the right of free navigation. The Al Rekayyat, which was sailing back to Qatar, stopped along its route on Jan. 13 in the Red Sea. "It is a pause to get security advice, if passing (through the) Red Sea remains unsafe we will go via the Cape," the source told Reuters on Monday about QatarEnergy.
Persons: Andrew Mills, Maha, Maha El Dahan, QatarEnergy, carmaker Suzuki, Britain, Grant Shapps, Qatar's Al Ghariya, Al Huwaila, Al, Ras Laffan, Al Rekayyat, Maha El, Emily Chow, Sachin Ravikumar, Chandni Shah, Andrew Cawthorne, Catherine Evans Organizations: Houthi, Reuters, Qatari Locations: Maha El, Maha El Dahan DOHA, WASHINGTON, Yemen, Gaza, Saudi, Israel, The U.S, U.S, Esztergom, Hungary, Ras, Suez, Oman, Jan, Qatar, Red, Europe, Asia, Aden, Djibouti, Davos, Singapore, Doha, London, Bengaluru
The highest state minimum wage in 2024 will be Washington state, at $16.28, up from $15.74. The state with the biggest jump in its minimum wage this year will be Hawaii, which is hiking it by $2. The push to raise it has gone on for years because minimum wage workers stuck at $7.25 have lost substantial buying power. But advocates for a higher minimum wage, including Holly Sklar, CEO of Business for a Fair Minimum Wage, would rather see it adjusted for inflation from where it was in 1968. “People replace tires they couldn’t replace or get their kids clothes.”For businesses, she said, consumer spending goes up because minimum wage workers will spend their additional earnings quickly.
Persons: Jana Bjorklund, won’t, Holly Sklar, Sklar, , ” Sklar Organizations: New York CNN, District, Columbia, New York State, Seattle, Uber, Business, , Washington, of Columbia Locations: New York, Maryland , New Jersey, New, New York City, Westchester, Long, Washington, California, Hawaii, Nevada, Oregon, Cities, Tukwila , Washington, Seattle, GovDocs, Flagstaff , Arizona, View , California, Denver , Colorado, Portland , Maine, Pennsylvania, New Hampshire , Alabama, Mississippi, Pike County, Alaska, Arizona, Colorado, Connecticut, Delaware, Florida, Maine, Maryland, Michigan, Minnesota, Missouri, Montana, Nebraska, New Jersey, York, Ohio, Rhode, Dakota, Vermont
AdvertisementAdvertisementThe James Webb Space Telescope (JWST) has spotted the most distant example of a galaxy in the universe that looks similar to the Milky Way. The galaxy, named ceers-2112, is more than 11.7 billion years old and is the earliest example of a barred spiral galaxy ever seen. For them, there is little doubt: this picture suggests this is a barred spiral galaxy. Scientists had thought you couldn't find a barred spiral galaxy before the universe was about 6.9 billion years old. The other 95% — about 27% of dark matter and 68% of dark energy — remain huge mysteries in physics.
Persons: James Webb, , JWST, Guo, Alexander de la Vega, Yetli Rosas Guevara, El País, la Vega, Luca Costantin, Space.com, Costantin, Jairo Abreu, Abreu Organizations: Service, James Webb Space, University of California, Spanish Donostia, Physics Center, Centro, Astrobiología, University of La Locations: Riverside, Madrid, University of La Laguna
(Reuters) - Sherwin-Williams raised its annual profit forecast on Tuesday after reporting better-than-expected quarterly results, as price hikes helped offset lower sales volumes across its businesses, sending its shares up 2% in premarket trading. Paints and coatings makers have been able to offset the impact of slower-than-expected recovery of key end markets by raising prices of their products. Chemical makers had flagged a potential blow in the second half of the year from a slower-than-expected recovery in China following its post-pandemic reopening and lower demand in Europe. The company raised its forecast, and now expects full-year adjusted income between $10.10 and $10.30 per share, compared to prior forecast of $9.30 to $9.70 per share. However, Morikis warned that "our fourth quarter is a seasonally smaller one, and we continue to expect choppiness by region and end market."
Persons: Sherwin, Williams, John Morikis, Morikis, Mrinalika Roy Organizations: Reuters Locations: China, Europe, Bengaluru
The logo of Johnson & Johnson is seen on a Brussels' office of the company in Diegem, Belgium September 21, 2023. J&J raised its annual profit forecast, helped by strong sales from its pharmaceutical business, and shares of the U.S. healthcare conglomerate were off about 1%. Excluding its consumer health unit, J&J now expects 2023 adjusted profit of $10.07 to $10.13 per share, up from its previous view of $10.00 to $10.10. Sales at J&J's medical device unit came in at $7.46 billion, shy of Wall Street estimates of $7.58 billion. J&J finalized the biggest shake-up in its 137-year history in August with the spinoff, but retained a 9.5% stake in its iconic consumer health business.
Persons: Johnson, Yves Herman, J, Vamil Divan, Joseph Wolk, Ozempic, Wolk, Bhanvi Satija, Sriparna Roy, Patrick Wingrove, Shounak Dasgupta, Bill Berkrot Organizations: Johnson, REUTERS, Guggenheim Partners, Vamil, Reuters Graphics, J, Thomson, &' $, & $, & $ Locations: Brussels, Diegem, Belgium, Bengaluru, New York
The logo of Johnson & Johnson is seen on a Brussels' office of the company in Diegem, Belgium September 21, 2023. Investors are focused on how J&J, now a standalone pharmaceutical and medical devices company, will reach its goal of $57 billion in drug sales by 2025. Johnson & Johnson recorded a $21-billion gain in the third quarter from the spin-off of its consumer health unit. Stelara, J&J's top-selling anti-inflammatory drug, brought in sales of $2.86 billion in the quarter, above LSEG estimates of $2.61 billion. Excluding its consumer health unit, J&J now expects 2023 adjusted profit of $10.07 to $10.13 per share, compared with its previous outlook of $10.00 to $10.10 per share.
Persons: Johnson, Yves Herman, MedTech, Cantor Fitzgerald, Louise Chen, Stelara, Joseph Wolk, Wolk, J, Bhanvi Satija, Sriparna Roy, Patrick Wingrove, Shounak Dasgupta Organizations: Johnson, REUTERS, Innovative Medicine, Reuters, Thomson, & $, & $ Locations: Brussels, Diegem, Belgium, Stelara, U.S, United States, Bengaluru, New York
Dollar Tree 's investments into improving its store experience for consumers are finally paying off, according to Goldman Sachs. Dollar stores have been recently slammed by deteriorating consumer fundamentals and investor sentiment, as gas prices have risen and student loan payments resumed. Dollar Tree, for example, has seen its stock slide 22% since the start of the year. McShane noted that Dollar Tree's "recent investments in price, labor and merchandising" should also serve as catalysts. All in all, McShane believes Dollar Tree's multiyear initiatives should propel the company forward to generate its targeted earnings of $10 per share in 2026.
Persons: Goldman Sachs, Goldman, Kate McShane, McShane, — CNBC's Michael Bloom
Johnson & Johnson on Tuesday reported adjusted earnings and revenue that topped Wall Street's expectations, and lifted its full-year guidance as sales in the company's pharmaceutical and medical devices businesses surged. Upon that split, J&J lowered its full-year sales and profit guidance. J&J also expects adjusted earnings per share of $10.07 to $10.13, up from a previous forecast of $10.00 to $10.10. The pharmaceutical giant reported net income of $4.31 billion, or $1.69 per share. That was flat compared with net income of $4.31 billion, or $1.62 per share, for the same period a year ago.
Persons: Johnson, J, Joseph Wolk Organizations: LSEG
Neanderthals skillfully hunted giant cave lions, a study showed for the first time. AdvertisementAdvertisementNeanderthals hunted cave lions with wooden spears and feasted on their meat at least 48,000 years ago, according to a study of ancient bones. But they didn't just target cave lions for sustenance. Cave lion bones are shown next to a replica spear Volker Minkus. The study suggests the hunt was designed "to get something on a social level, some social rewards," he said.
Persons: , Gabriele Russo, Russo, Julio Lacerda, Volker Minkus, it's, It's Organizations: Service Locations: Germany, Bavaria, Eurasia, Siegsdorf, Croatian, Africa
For the first time, scientists were able to show they can bend lightning from a storm with a laser. The project, 20 years in the making, required a super powerful laser to be shot into the sky. A powerful laser was able to deflect a lightning bolt almost 200 feet before it hit a lightning rod, greatly improving the rod's function. The Laser Lightning Rod is seen in place on top of a Swiss mountain. AdvertisementAdvertisementEventually, the scientists were able to record a natural lightning bolt that, for the first time, followed the laser beam before hitting the tower.
Persons: , Aurélien Houard, Appliquée, they'd, Houard, Jean, Pierre Wolf, Benjamin Franklin, we've, Wolf, Houart Organizations: Service, EPFL, University of Geneva, Polytechnique, Street, Nat, CNN, Street Journal, Photonics Locations: Swiss, EPFL, Switzerland, France, Germany, Säntis
AdvertisementAdvertisementMercury, the smallest planet in the solar system, is getting even — and getting more wrinkles as it does, a new study suggests. Mercury is wrinkling like an old appleLike any other planet, Mercury is losing heat. The study, published in Nature Geosciences on Monday, identified 48 definite and 244 likely grabens on pictures snapped by NASA's MESSENGER probe in 2015. AdvertisementAdvertisementMercury is likely constantly shaking with quakesThe study also suggests Mercury is constantly shaking with quakes, Rothery said. ESA/BepiColombo/MTM, CC BY-SA 3.0 IGOThe next step for Mercury, Rothery said, will be the arrival of a space probe called BepiColumbo.
Persons: , David Rothery, Rothery, Ben Man, Nat, it's, we've, BepiColumbo Organizations: Service, UK's Open University, Nature Geosciences, Mercury, ESA, European Space Agency, Japan Aerospace Exploration Agency Locations: et
J&J forecasts 12.5% growth in 2023 profit after Kenvue spinoff
  + stars: | 2023-08-30 | by ( ) www.reuters.com   time to read: +1 min
Johnson & Johnson company offices are shown in Irvine, California, U.S., October 14, 2020. REUTERS/Mike Blake Acquire Licensing RightsAug 30 (Reuters) - Johnson & Johnson (JNJ.N) on Wednesday forecast 12.5% growth in its annual adjusted profit after completing the separation of consumer health company Kenvue (KVUE.N) . J&J also said it would present its consumer health business as discontinued operations and record a gain of $20 billion in the third quarter as a result of the spinoff. It expects 2023 adjusted reported earnings per share of $10.00 - $10.10, 12.5% higher at the midpoint compared with 2022. Kenvue, which debuted on the New York Stock Exchange in May, has a market capitalization of about $78.9 billion.
Persons: Johnson, Mike Blake, J, Kenvue, Manas Mishra, Devika Organizations: Johnson, REUTERS, New York Stock Exchange, Thomson Locations: Irvine , California, U.S, Bengaluru
Citigroup maintains a buy rating on Club name Apple (AAPL) ahead of its Sept. 12 product event, while reiterating a $240-per-share price target on the stock. As ever, Apple is an "own it, don't trade it" stock ahead of the product launch. Morgan Stanley downgrades Centene (CNC) to equal weight, from overweight, while lowering its price target on the stock to $73 a share, down from $94. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Stocks, , Johnson, Morgan Stanley downgrades Centene, Morgan Stanley, Bernstein, James Hollingshead, Wolfe, BUD, Bud Light, KeyBanc, Jim Cramer's, Jim Cramer, Jim Organizations: ADP, Federal Reserve, Labor, Citigroup, Apple, Citi, FedEx, Health, Humana, Bernstein downgrades Texas, Wolfe Research, NFL, Anheuser, Busch InBev, Molson Coors Beverage, Constellation Brands, Google, Club, Nvidia, HP Inc, Jim Cramer's Charitable, CNBC Locations: U.S
The bone could mean modern humans shared the cave with Neanderthals. The early human bone was found in a cave at the center of a debate about Neanderthal culture. Maureille is an author of the study about the hip bone, and an archaeologist from the University of Bordeaux. This raises a controversial hypothesis: that modern humans and Neanderthals shared the mysterious Châtelperronien culture, which has long baffled scientists. Research there suggests modern humans shared a cave with Neanderthals and Denisovans about 45,000 years ago.
Persons: Bruno Maureille, Will Oliver, Maureille Organizations: Service, University of Bordeaux, Sci Locations: Wall, Silicon, Arcy, France, London, Europe, Spain, Renne, Siberia
Scientists have analyzed letters written by Vlad the Impaler in the 15th century. Traces of protein on the letters suggest he suffered from hemolacria, which causes blood to be present in tears. There are a wide variety of disorders that can cause blood tears, ranging from blood clotting issues to unusual menstruation. Analysis of the proteins found traces of a bacteria that causes plague, but this disease is not linked to blood tears. "To our reckoning, this is the first time such research has been carried out and has helped to bring to the limelight the health status of Vlad Dracula the Impaler," the authors said in the study.
Persons: Vlad, Dracula, Vlad III, Vlad Drăculea, Pittalá, Maria Gaetana Giovanna Pittalà, Vincenzo Cunsolo, , Vlad the, Alexandreea Alexandru, Bram Stoker, Stoker, Vlad Dracula Organizations: Service, University of Catania Locations: hemolacria, Wall, Silicon, Italy
For the week, the Nasdaq climbed 2.02%, while the S&P rose 1.01%, and the Dow gained 0.66%. The gains gave the S&P 500 its highest close since April 4, 2022. Barclays said investors flocked to equities this week, with inflows of $10 billion to U.S.-listed stocks, according to a note to clients. Advancing issues outnumbered declining ones on the NYSE by a 2.64-to-1 ratio; on Nasdaq, a 2.81-to-1 ratio favored advancers. The S&P 500 posted 27 new 52-week highs and two new lows; the Nasdaq Composite recorded 83 new highs and 84 new lows.
Persons: Scott Ladner, Win Murray, Diamond Hill, Jerome Powell, Brendan McDermid, Peers, Dow, Jim Farley, Carolina Mandl, Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Big Tech, Federal Reserve, Horizon Investments, Dow Jones, Barclays, New York Stock Exchange, REUTERS, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, NYSE, Thomson Locations: China, U.S, New York City, New York, Bengaluru
Banc of California and PacWest Bancorp shares surged after announcing an all-stock merger. The new bank will have $36 billion in assets and $30.5 billion in total deposits. Banc of California shares jumped 8.4% to $15.85 apiece in after-hours trade, extending gains from an 11% rise on Tuesday. The all-stock deal will result in a new bank with $36 billion in combined assets, Banc of California and PacWest announced on Tuesday. It will have $25.3 billion in total loans and $30.5 billion in total deposits.
Persons: PacWest, Jared Wolff, Warburg Pincus, Wolff, We've, Timothy Coffey, Janney Montgomery Scott Organizations: PacWest Bancorp, Morning, Warburg, Centerbridge, Reuters, Silicon Valley Bank, Signature Bank, JPMorgan, First Republic Bank, First Citizens Bank, New York Community Bancorp Locations: California, Banc, Silicon, Signature Bank , New York
With their impressive architecture, scientific knowledge, religious cults, and beautiful artwork, the ancient Egyptians continue to impress historians long after the end of their reign. The pyramids were built by slavesThe Sphinx at Giza in Cairo set against the Pyramid Pyramid of Khafre. That means there may have been sacrifices over a period of about 400 years, while ancient Egyptians ruled for about 3,000 years. His book detailing the life of ancient Egyptians was extremely influential. Many misconceptions that have survived in the lore about ancient Egypt to this day may have found their origins in Herodotus's work.
Breast cancer screenings reduce deaths from breast cancer and have considerably lower radiation levels than nuclear or atomic bombs, contrary to claims circulating in a video on social media. Dr Veronique Desaulniers, a bio-energetic chiropractor according to her LinkedIn profile, warns about the purported dangers of breast cancer screening in the clip posted on Instagram (here). “A decade of annual mammography would yield a total radiation dose 10 times that: 3.6 mSv,” he adds. A reduction in breast cancer deaths has been primarily attributed to mammography screening and early breast cancer detection (here). There is a radiation risk to the breasts of teenagers and women in their early 20s due to development, however, the risk drops rapidly as women age, according to Kopans.
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