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FanDuel parent Flutter Entertainment is poised for even more gains ahead as its U.S. growth takes off, according to Goldman Sachs. Analyst Ben Andrews initiated coverage of the online sports betting operator with a buy rating and $320 price target. Andrews sees upside to Flutter's 2027 revenue guidance for existing states and sees double-digit percentage upside to Wall Street's consensus targets on Flutter's U.S. EBITDA in 2027 and 2028. S & P) and Flutter building a track record of consistent delivery and as a compounding cash generator." The company continues to acquire new customers in existing states, which "Flutter is doing more efficiently than competition, supported by their scale," Andrews said.
Persons: Goldman Sachs, Ben Andrews, Andrews Organizations: New York Stock Exchange, London Stock Exchange, U.S
Securities and Exchange Commission Chair Gary Gensler will resign on Jan. 20, the agency announced Thursday, paving the way for President-elect Donald Trump to select a replacement immediately. Gensler took over the SEC in 2021, and under his leadership the commission has taken an ambitious but controversial approach to several regulatory issues, including cryptocurrencies. Trump has not announced his pick to lead the SEC, but the expectation is that the next chair will be friendlier to Wall Street and crypto. SEC commissioners serve five-year terms, so Gensler could have in theory stayed on until at least 2026. Under Gensler, the SEC pushed to require more disclosures from publicly traded companies and financial advisors for investors.
Persons: Gary Gensler, Donald Trump, Gensler, Trump, ” Gensler, Gensler’s Organizations: Securities, Exchange, SEC, cryptocurrencies, Gensler’s SEC
UK Export Finance's support helps UK businesses tap into global market opportunities. Small businesses like Premier Ship Models can get guarantees to help them access working capital and free guidance on the export finance options available. UK Export Finance (UKEF), the UK government's export credit agency, supports UK businesses to win contracts to export abroad by providing attractive financing terms for buyers, and fulfill those contracts with the help of working capital and trade finance. Since 2020, UKEF has steadily increased its support for small businesses, with more than half of the businesses it assists being small businesses. UKEF can support small businesses through its network of regional Export Finance Managers based around the UK who can provide free and impartial consultations to businesses on their export finance needs.
Persons: UKEF, Tim Reid, Rashid Lalloo, Lalloo, Craig Green, Mike Swift, Reid, Organizations: Export, UK Export Finance, Models, Export Finance, Premier Ship Models, General Export Facility, Insider Studios Locations: New York, UKEF, Mauritius, Oman, Hong Kong, London
Gautam Adani, chairman of Adani Group, following a Bloomberg Television interview at the company's headquarters in Ahmedabad, Gujarat, India, on Saturday, May 25, 2024. The head of a $25 billion Indian energy company, the former CEO of a New York-listed energy firm, and one of Asia's wealthiest men were set to meet in New Delhi to discuss business. To prepare for the meeting, Vneet Jaain, chief executive of $25 billion Adani Green Energy , photographed a document on his cellphone. There are also concerns about whether Adani companies will be able to raise debt in the future in U.S. markets. Earlier this year, the stock market regulator's chair, Madhabi Buch, was accused of having a conflict of interest while investigating Adani group companies, according to short-seller Hindenburg.
Persons: Gautam Adani, Sumit Dayal, Vneet Jaain, Gautam, Jaain, James Dennehy, Adani, Adani Green, What's, firm's, Matt Orton, Raymond James, CNBC's Tanvir Gill, Orton, it's, India's, Rahul Gandhi, Madhabi Organizations: Adani, Bloomberg, Getty, Green Energy, Eastern, of, NYSE, U.S, Securities Exchange Commission, New York Stock Exchange, SEC, U.S . Department of Justice, Energy, Adani Enterprises, GQG Partners, firm's Sydney, Citi, State Bank of India, DBS Group, DBS, Regulators, Federal Bureau of Investigations, Central Bureau of Investigations, Securities and Exchange Board of India, CNBC Locations: Ahmedabad, Gujarat, India, New York, New Delhi, of New York, U.S, Foreign, Singapore, Madhabi Buch
SEC commissioners serve five-year terms, so Gensler could in theory have stayed on until at least 2026. Gensler took over the SEC in 2021, and under his leadership the commission has taken an ambitious but controversial approach to several regulatory issues, including cryptocurrencies. Trump has not announced his pick to lead the SEC, but the expectation is that the next chair will be friendlier to Wall Street and crypto. Securities and Exchange Commission Chair Gary Gensler will resign on Jan. 20, the agency announced Thursday, paving the way for President-elect Donald Trump to immediately select a replacement. Under Gensler, the SEC pushed to require more disclosure from publicly traded companies and financial advisors for investors.
Persons: Gensler, Trump, Gary Gensler, Donald Trump, Elon Musk, Musk, Gensler's, — CNBC's Lora Kolodny Organizations: SEC, cryptocurrencies, . Securities, Exchange, Gensler's SEC, Twitter, Trump, Government Efficiency
Tom’s of Maine said in a statement Wednesday that it is working with the FDA and remedying issues raised from the May inspection. That water was used to manufacture Tom’s Simply White clean mint paste and for the final rinse of numerous equipment cleaning processes, the letter said. “Batches manufactured after these incidents were released based on the microbial testing of the finished OTC product despite the quality of the water used as a component or to clean the equipment,” the FDA letter said. The investigator “also observed powder residues at a stainless-steel tray” near a batch of Tom’s Silly Strawberry anticavity toothpaste. We are also making capital investments as part of an ongoing, significant upgrade of the Sanford plant’s water system."
Persons: , insidiosa, yeei, , Tom’s Organizations: FDA, Colgate, Palmolive, Centers for Disease Control, NBC News Locations: Maine, Sanford , Maine, Sanford
Manulife Investment Management's top plays in India
  + stars: | 2024-11-20 | 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 EmailManulife Investment Management's top plays in IndiaManulife Investment Management's Rana Gupta likes large private sector banks as they remain profitable, and quick commerce companies that managed to defy a poor consumer season. He does see a risk of foreign promoters selling IPOs in India and cashing out, causing capital outflows.
Persons: Investment Management's Rana Gupta Organizations: Investment Locations: India, outflows
In the wake of President-elect Donald Trump's Nov. 5th victory, the stock and bond markets have had decidedly different reactions to the news. Initially, the stock market surged, while bonds sold off and drove interest rates higher. The bond market, along with other inflation indicators, have shown some concern about the notion that tax cuts pay for themselves. There have also been worries that the Trump tax cuts, if extended, would add considerably to annual deficits and the sum of the national debt. The stock market is viewed more favorably by many, as was Zeus in "Clash of the Titans."
Persons: Donald Trump's, Biden, Trump, Elon Musk, Vivek Ramaswamy, Ramaswamy, Ron Insana Organizations: Nasdaq, Trump, of Government, Social Security, Congressional, Office, CNBC Locations: U.S, Trump's, China
AdvertisementTiger Management and $4 billion hedge fund Hound Partners are in a legal tussle. Tiger, the legendary investment manager founded by the late Julian Robertson, seeded Hound in 2004. Hound saw assets fall from $4.6 billion at the end of 2017 to $1.8 billion at the end of 2022, according to Tiger's suit. "There is no instance of which Tiger is aware where Mr. Auerbach sought a positive reference for his funds that Tiger declined to provide," Tiger's suit states. Auerbach did not work for Robertson's fund but was seeking capital to start his fund in 2004 when he met the billionaire.
Persons: Julian Robertson, Hound, Jonathan Auerbach, Tiger, Gabrielle Wesley, Auerbach, Robertson, Alex Robertson, it's, Julian Robertson's Organizations: Tiger Management, Partners, Hound Partners, Mars, America, Tiger, Tiger Cubs, Viking Locations: New York, Mars Wrigley
AdvertisementThe growing ranks of boomers aged 65-plus could spark a boom in the senior housing market. It says this will drive strong demand for senior housing facilities, including assisted living, independent living, skilled nursing, and memory care. "That makes senior housing a compelling option for investors looking to break away from traditional property investment." Census Bureau/Capital EconomicsMeanwhile, around 11% of those over the age of 65 are currently living in a form of senior housing, according to the American Senior Housing Association. Related storiesRents, meanwhile, are seeing a strong uptrend, thanks to the supply of senior housing growing tighter after the pandemic.
Persons: that's, Imogen Pattison, Pattison Organizations: Capital, Capital Economics, Census, American Senior Housing Association, MAP
Investors may like AT & T for its juicy dividend, but the underlying shares also have "significant upside" ahead, according to Goldman Sachs. The Wall Street investment bank sees a number of factors at play that should boost returns for the Dallas-based telecom giant, which pays a dividend yield of 4.89%. Overall, Schneider anticipates sustained EBITDA growth of 3%, which is 100 to 200 basis points faster growth than Wall Street is currently modeling, he said. That sustained improvement on EBITDA growth should warrant a higher multiple over time, he added. The stock, which hit a 52-week high on Monday, is up 37% year to date, excluding the dividend.
Persons: Goldman Sachs, Goldman, James Schneider, Schneider, T's Organizations: Dallas, Verizon, Mobile Locations: United States
Hefty capital gains tax bills could be around the corner for investors in certain mutual funds. Fund families are notifying shareholders of estimated capital gains distributions for 2024, which they will issue to investors in December. This year has been a strong one for stocks, with the S & P 500 up more than 25%, and double-digit distributions from some mutual funds are on deck. See below for a few funds that are expected to spin out double-digit capital gains distributions this year, per Morningstar. If your losses exceed your capital gains, you can also apply up to $3,000 of them toward ordinary income on your federal return.
Persons: Morgan, Stephen Welch, Welch Organizations: Institutional Fund
Wall Street has been pumping money into the Trump trade, but investors should be wary before committing capital based on campaign promises, if history is any indication. From Election Day 2016 through year-end, the asset class outperformed the S & P 500 by 8% on a relative basis. In fact, from Election Day 2016 through Election Day 2020, smallcaps tumbled more than 22%. Expand the timeline to one year out from Election Day, and the ETF underperformed the broader index by 11%. Energy Energy stocks are expected to get a huge boost from Trump, who made energy a focus of his presidential campaign , and promised to "drill, baby, drill."
Persons: Trump, Donald Trump's, elect's, Russell, Biden, Wells, Austin Pickle, , smallcaps, that's, Fred Imbert Organizations: Bank, Regional Banking, Wells, Investment Institute, Trump, Wells Fargo Investment Institute, Dow Jones, . Energy Energy, Energy Locations: Wells Fargo, that's year's
In the past decade, private investments exploded from $4 trillion to $14 trillion. Primarily led by institutional capital, investors poured money into private markets in their search for differentiated returns and alpha generation. This makes sense as alternative investments have consistently outperformed global public markets on 10-, 15-, and 20-year time horizons. As more companies stay private for longer, a portfolio limited to public companies inevitably will miss market opportunities. While private markets offer advantages of broader economic exposure, diversification and alpha generation, it is important to understand their differences from public markets.
Organizations: Bain, Private
Bank of America downgrades Solaredge to underperform from neutral Bank of America says Solaredge is at risk of tariffs in a Trump administration. Barclays downgrades Coty to underweight from equal weight Barclays downgraded the beauty stock following earnings and says it sees "strategy creep." Baird upgrades McKesson to outperform from neutral Baird upgraded the healthcare and medical supply company following earnings. JPMorgan upgrades Clearwater to overweight from neutral JPMorgan upgraded the software company following earnings. " Seaport downgrades Duolingo to neutral from buy The firm downgraded the language App company mainly on valuation following earnings.
Persons: Solaredge, Jefferies downgrades Palantir, Jefferies, PLTR, Bernstein, Ford, Morgan Stanley, Wolfe, it's, Trump, Coty, Schneider, Schneider National's, Apple, it's bullish, Max, Baird, MCK, JPM, CWAN, Guggenheim, Sunrun, Raymond James, Tesla Organizations: Barclays, Qualcomm, Bank of America, of America, Intelligence, Allstate, Nvidia, AMD, Coty, underperform Bank of America, Citi, Apple, Deutsche Bank, Disney, HC, JPMorgan, UBS, Vulcan, Guggenheim, Technologies, USM Locations: Trump, 1Q23, China, F4Q
Nurphoto | Nurphoto | Getty ImagesDonald Trump's election victory over Vice President Kamala Harris marks a historic return to the White House — an extraordinary political comeback that is likely to have seismic ramifications for the global economy. The former president's litany of campaign pledges include steep tariffs, tax cuts, deregulation and a push to withdraw from key global agreements. Trump's favorite wordTrump has previously described "tariff" as his favorite word, calling it "the most beautiful word in the dictionary." And we don't see Trump's secondary tariff pledge — that baseline tariff, which would hurt European companies — as being all that feasible," Galbraith said. Analysts have warned that Trump's plan to impose universal tariffs are highly likely to raise prices for consumers and slow spending.
Persons: Donald Trump's, Kamala Harris, Trump, Lizzy Galbraith, Abrdn, Galbraith, CNBC's, Donald Trump, Ben May, Mitchell Reiss Organizations: Nurphoto, Getty, European Union, Bloomberg, Trump, Oxford Economics, Signum Global Advisors, Macquarie Group, Royal United Services Institute Locations: Binzhou, China, Florida, U.S, Mexico, Greensboro , North Carolina, Ukraine, Europe, Asia, Qingdao Port, Shandong province, Qingdao, American
Warren Buffett isn't hot on stocks right now, and the 94-year-old CEO's latest moves reflect that. The cash hoard has grown as Berkshire pared down stakes in key holdings such as Apple and Bank of America . It's also raked in more than $10 billion from steadily selling Bank of America shares since the summer. Berkshire Class A stock trades at 22.6 time earnings. Lastly, Colas noted that Buffett may have "have identified one or more large acquisitions and is raising capital for those purchases."
Persons: Warren Buffett, Berkshire Hathaway, Goldman Sachs, It's, Buffett, didn't, Nicholas Colas, Colas, Greg Abel, hasn't, Morgan Stanley Organizations: Berkshire, Nike, Disney, Apple, Bank of America, of America, DataTrek, Oracle, Berkshire Class Locations: Berkshire, Omaha
The news Morgan Stanley raised its Amazon price target Monday to $230 per share from $210 — implying 16% upside to Friday's close. Morgan Stanley expects Amazon's shipping and fulfillment cost per package to decrease about 3% each year from 2023 to 2026, reaching $6.51 by 2026. Bottom line Jim Cramer wrote in his Sunday column that Amazon is the "best stock so far" of this earnings season, citing skill execution across all of its businesses. 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: Morgan Stanley, D.A, Davidson, Jim Cramer, Jim Cramer's, Jim, David Paul Morris Organizations: Amazon, Web Services, CNBC, Bloomberg, Getty Locations: San Francisco
The worst is behind the commercial real estate sector, according to Blackstone's Jon Gray. AdvertisementThe worst of the commercial real estate turmoil looks to be over, Blackstone president Jon Gray says. Related stories"We said in January, publicly on earnings, that we thought commercial real estate was bottoming. So they're saying to themselves, 'Real estate, oh, I got all this troubled real estate. "If you were an investor in real estate after the financial crisis, you would have made a lot of money.
Persons: Blackstone's Jon Gray, there's, Blackstone, Gray, , Jon Gray, Goldman Sachs, we've, didn't Organizations: Service, Blackstone Locations: CRE, Europe, Asia
When asked whether it's been worth the cost ( $30 monthly per user in the case of Copilot), tech leaders say they aren't sure. According to recent Deloitte research, two-thirds of organizations are increasing gen AI investments based on "strong early value to date." There are multiple reasons why companies will still be short on confidence when it comes to enterprise AI adoption, according to Deloitte. The Azure cloud offering from its biggest AI partner and AI investment, OpenAI, is in use at nearly two-thirds of companies. Forty-six percent of CNBC survey respondents said that within their organizations at least half of employees are now using AI.
Persons: it's, Jim Rowan, Anthropic, Mistral, Eric Schmidt —, Morgan Stanley, Copilot, Rowan Organizations: CNBC, Microsoft, CNBC Technology, Council, Deloitte, Microsoft Microsoft, Fortune, Capital Group, Disney, Dow, Kyndryl, Novartis, Deloitte Consulting, Meta, Silicon, OpenAI, AIs Locations: Europe
Announced in August , and reported this way for the first time this week, Microsoft decided to change which revenue streams fall under its three main reporting segments. In Microsoft's upcoming report, search and news advertising revenue will move from the More Personal Computing (PCP) segment into the Intelligent Cloud (IC) segment. Another change includes Microsoft removing revenue from Power Business Intelligence data analytics and the Enterprise Mobility and Security group of products from the IC segment. MSFT YTD mountain Microsoft (MSFT) year-to-date performance Some Wall Street analysts are upbeat on the new reporting structure. He also touted Microsoft's AI prospects ahead of quarterly earnings — citing the company's first-mover advantage in integrating AI.
Persons: Piper Sandler's Brent Bracelin, Bracelin, Morgan Stanley, there's, Jim Cramer, I'm, Jim, Amy Hood's, Jim Cramer's, Satya Nadella, Dimas Ardian Organizations: Microsoft, Web Services, Power Business Intelligence, Enterprise Mobility, Security, Piper, CNBC, BI, Guggenheim, Big Tech, Bloomberg, Getty Locations: OpenAI, Jakarta, Indonesia
AdvertisementWall Street bankers tasked with helping companies raise money through sales of stock just got an early Christmas present. The sale ended up raising nearly $21 billion, marking one of the largest deals for US equity-capital-markets bankers in history. Thanks to the Boeing capital raise, he now predicts ECM bonus increases of 30%, he said. 'A rising tide lifts all boats,' comp expert saysThe ultimate size of Boeing's capital raise puts it in league with some of the largest raises ever, according to global equity capital raise data provided by LSEG. But, based on Johnson's forecast, it seems those involved in the Boeing capital raise may find themselves flying highest on bonus day.
Persons: Goldman Sachs, , bookrunners Goldman Sachs, Morgan Stanley, Alan Johnson, Johnson, Semafor, Thoma Bravo, It's, they've Organizations: Boeing, PJT Partners, RBC Capital Markets, Service, Monday, Bank of America, Citigroup, JPMorgan, Wall, Johnson Associates, LSEG, Petrobras, Lloyds, Nasdaq Locations: Brazilian, British
Boeing is looking for a $19 billion boost
  + stars: | 2024-10-28 | by ( Aditi Bharade | Pete Syme | ) www.businessinsider.com   time to read: +3 min
Boeing is looking to raise nearly $19 billion to combat its lack of cash. It comes after Boeing reported a net loss of $6.1 billion in the third quarter. AdvertisementBoeing needs cash, and it's trying to raise almost $19 billion as the company looks to boost its liquidity. The planemaker announced Monday that it is offering 90 million common shares and about $5 billion of depositary shares for sale. Last Wednesday, Boeing reported a net loss of $6.1 billion in its third-quarter earnings.
Persons: , Goldman Sachs, Max, Dave Calhoun, Ron Epstein Organizations: Boeing, Alaska Airlines, Service, planemaker, Bank of America, Citibank, JPMorgan Chase, Alaska Airlines Boeing
Bret Taylor, co-CEO of Salesforce, speaks at the Viva Technology Conference in Paris on June 15, 2022. Artificial intelligence startup Sierra, co-founded by ex-Salesforce co-CEO Bret Taylor, is more than quadrupling its valuation to $4.5 billion in a fresh funding round. The San Francisco-based company, which was valued at $1 billion in January, raised $175 million in a funding round led by Greenoaks Capital. Sierra is focused on helping enterprises like home security company ADT , Sonos , Weight Watchers and Casper personalize and implement AI agents for customer service. Taylor describes Sierra as "conversational AI," and bristles at the word "chatbot," even banning the phrase in the company's downtown San Francisco office.
Persons: Bret Taylor, Sierra, Taylor, Marc Benioff, Elon Musk, Clay Bavor, Casper personalize, Bavor, ICONIQ, Josh Kushner’s Organizations: Salesforce, Viva Technology Conference, Greenoaks Capital, Twitter, Elon, Google, Sierra, Google Labs, CNBC Locations: Paris, San Francisco
Companies must consider customers' desire for local payment methods, frictionless transactions, and evolving government regulations. For both enterprises, a payment platform must do more than simply accept transactions: It must easily adapt to different markets, audiences, and regulatory environments. That's why they have chosen a single-source payment platform to help them innovate and grow. This included payment methods like Momo in Vietnam, Bank Transfer in Indonesia, Pix in Brazil, and UPI in India. Seamless payment processes drive businessEnterprises looking to grow need a payment partner that meets business requirements as well as consumer preferences.
Persons: Dave Wolf, Fubo, Erik Gerson, Adyen, Momo, we've, Wolf, tokenization, Gerson Organizations: Companies, Meta, Reality Labs, Fubo, UPI, tokenization, Insider Studios Locations: Vietnam, Indonesia, Pix, Brazil, India, Adyen
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