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☆ Cramer’s week ahead: Earnings from Alphabet, Meta, Apple, Microsoft and Amazon
▼ + stars: | 2024-10-25 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +4 min

With massive corporations including Alphabet , Meta , Apple , Microsoft and Amazon set to report earnings next week, CNBC's Jim Cramer on Friday urged investors to keep a level head. "Just please remember, the first move's been the wrong move almost half the time since this earnings season began. Monday starts off the week with earnings from Ford . Tuesday brings McDonald's earnings report, and Cramer said to expect "a full airing of the e-coli situation," but that it is too early to tell how much damage it will do to the fast food chain. The monster week for earnings will continue into Thursday, as both Apple and Amazon will report after the bell.

Persons: CNBC's Jim Cramer, Cramer, Chipotle, Brian Niccol's, Eli Lilly, Meta, Chevron's, Hess, Exxon doesn't Organizations: Apple, Microsoft, Federal Reserve, Ford, Disease Control, Prevention, Royal, PayPal, Caterpillar, Meta, Merck, Bristol, Oil titans Chevron, Exxon, Chevron Locations: Gulf of Mexico, Myers

☆ Mattel, Hasbro lower guidance ahead of holiday season
▼ + stars: | 2024-10-24 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +2 min

Mattel and Hasbro decreased their end-of-year guidance ahead of the key holiday season as toy sales continue to slide during the third quarter. The lowered guidance comes before the important holiday season, where softened results could have major effects for retail companies such as Mattel and Hasbro. Hasbro cut 1,100 workers last December after weak sales in 2023 continued into the holiday season, while Mattel was carried through by the success of the "Barbie" movie. Aside from building block sets, Hasbro expects the toy market to continue to see a trend of softened sales into the holiday season. "Our expectation is the holiday season will probably continue that trend.

Persons: Chris Cocks, Cocks Organizations: Walmart, Mattel, Hasbro, LSEG, National Retail Federation Locations: Secaucus , New Jersey, Florida

☆ Apple and Goldman Sachs ordered to pay more than $89 million for Apple Card failures
▼ + stars: | 2024-10-23 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +3 min

Apple CEO Tim Cook introduces the Apple Card during a launch event at the Apple headquarters in Cupertino, California, on March 25, 2019. The Consumer Financial Protection Bureau ordered Apple and Goldman Sachs on Wednesday to pay more than $89 million for mishandling consumer disputes related to Apple Card transactions. Goldman Sachs was ordered to pay a $45 million civil penalty and $19.8 million in redress, while Apple was fined $25 million. "Apple and Goldman Sachs illegally sidestepped their legal obligations for Apple Card borrowers. Apple Card was first launched in 2019 as a credit card alternative, hinged on Apple Pay, the company's mobile payment and digital wallet service.

Persons: Tim Cook, Goldman Sachs, Apple, Rohit Chopra, Nick Carcaterra, —, Hugh Son, Steve Kovach Organizations: Apple, Consumer Financial Protection, Apple Card, Big Tech, CNBC Locations: Cupertino , California

☆ Watch maker Patek Philippe launches first new collection in 25 years
▼ + stars: | 2024-10-18 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +1 min

Storied Swiss watch maker Patek Philippe announced its first new collection in 25 years this week, dubbed the Cubitus line. The new collection comes at a time when luxury watch prices have largely stabilized, fueled by strong demand. Patek Philippe's new collection also includes new cufflinks, designed to match the watches with a white-gold frame that reflect the case's shape. Patek Philippe, founded in 1839, is often referred to as one of "The Holy Trinity" in watch making, along with Audemars Piguet and Vacheron Constantin. The brand's last new collection before the Cubitus line was back in 1999 when it released the Twenty~4 design.

Persons: Patek Philippe, it's, Audemars Piguet, Vacheron Constantin, Patek Locations: Swiss

☆ Teen tobacco use falls to 25-year low as fewer pick up e-cigarettes
▼ + stars: | 2024-10-17 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +3 min

Tobacco product use among middle and high school students has dropped to a 25-year low, the Centers for Disease Control and Prevention and the U.S. Food and Drug Administration announced Thursday. Female students reported the biggest decline in use across the board, and Hispanic students also reported a drop in use of any tobacco product. Evidence-based strategies, including price increases, media campaigns and smoke-free policies, are likely part of what caused tobacco product use to drop, according to the agencies. E-cigarettes continue to be the most used among students who reported tobacco product use, at 5.9%, but nicotine pouches are now the second-most commonly used tobacco product, at 1.8%, followed by cigarettes at 1.4%. Zyn was the most-popular nicotine pouch brand, at 68.7%, compared with the next most-popular brand On at 14.2%.

Persons: We're, Brian King, Deirdre Lawrence Kittner, Zyn, Philip Morris Organizations: Centers for Disease Control, U.S . Food, Drug Administration, CDC, FDA, National Youth Tobacco Survey, FDA's Center for Tobacco Products, Philip, Philip Morris International Locations: New York City, U.S, Colorado

JPMorgan Chase CEO and Chairman Jamie Dimon speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, U.S., December 6, 2023. JPMorgan Chase CEO Jamie Dimon sees risks climbing around the world amid widening conflicts in the Middle East and with Russia's invasion of Ukraine showing no signs of abating. "We have been closely monitoring the geopolitical situation for some time, and recent events show that conditions are treacherous and getting worse," Dimon said Friday in the bank's third-quarter earnings release. "It's ratcheting up, folks, and it takes really strong American leadership and western world leaders to do something about that," Dimon said. "While inflation is slowing and the U.S. economy remains resilient, several critical issues remain, including large fiscal deficits, infrastructure needs, restructuring of trade and remilitarization of the world," Dimon said.

Persons: Jamie Dimon, JPMorgan Chase, Dimon, I've Organizations: JPMorgan Chase, U.S . Senate Banking, Housing, Urban Affairs, Wall, Capitol, JPMorgan, Georgetown University, Federal Reserve Locations: Washington , U.S, Ukraine, East, China, Iran, North Korea, Russia, Israel, Beirut, Lebanon, U.S

☆ Photos show Florida preparations and evacuations ahead of Hurricane Milton
▼ + stars: | 2024-10-09 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +1 min

Gas stations around the state have already run out of fuel as people attempt to either leave the state or have fuel on stock for at-home generators. About 1,200 of the state's 7,900 gas stations, or nearly 16%, are currently without fuel, according to data from GasBuddy. Floridians are still recovering from Hurricane Helene, which devastated the state in late September, and now are scrambling to prepare or escape the projected storm areas. Hurricane Milton is expected to bring life-threatening storm surges, as well as isolated tornadoes and dangerous flooding. Rain has already hit the Tampa metropolitan area and winds are likely to increase Wednesday afternoon.

Persons: Hurricane Helene, Hurricane Milton Organizations: Gas Locations: Milton, GasBuddy, Hurricane, Tampa, Tampa , Florida

☆ Steady rain falls in Tampa as Hurricane Milton expected to make landfall as Category 4
▼ + stars: | 2024-10-09 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +1 min

Sen via Getty ImageSteady rain hit the Tampa area Wednesday morning and winds are expected to increase in the afternoon as Floridians rush to prepare for Hurricane Milton. The storm continues to fluctuate in intensity as it approaches the state's west coast and is expected to make landfall as a Category 4 hurricane, the second-highest rating. As of Wednesday morning, a storm surge warning is in effect for the central to southern west coast of Florida, including Tampa. Vehicles move through a partially flooded street in Dunedin ahead of Hurricane Milton's expected landfall tonight on October 9, 2024 in Florida. The hurricane will likely make landfall late Wednesday night or early Thursday morning, according to the NHC.

Persons: Hurricane Milton, Milton's, Bryan R, Smith Organizations: Space, Sen, Hurricane, National Hurricane Center, NHC, Vehicles, AFP, Getty, Federal Emergency Management Agency Locations: Hurricane, of Mexico, Tampa, Florida, Dunedin

☆ Spirit Halloween to open 10 new 'Spirit Christmas' stores catering to holiday shoppers
▼ + stars: | 2024-10-08 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +2 min

Some Spirit Halloween locations will be busy for longer than usual this year. Spirit Halloween will operate 10 stores through the entire holiday season as "Spirit Christmas," a spokesperson confirmed with CNBC. Not all stores will be converted from existing Spirit Halloween locations. "Spirit Christmas is a new concept for us, and we're hopeful it will resonate with our customers," a spokesperson for Spirit Halloween told CNBC. The first 10 locations will act as a test to see whether customers will stay invested through the holiday season.

Organizations: CNBC, Halloween, National Retail Federation, Deloitte Locations: Mays, N.J

☆ Hurricane Milton could reduce Disney earnings, Goldman says
▼ + stars: | 2024-10-08 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +2 min

Projected park closures and disruptions from Hurricane Milton could cut into Walt Disney 's earnings, according to Goldman Sachs analysts. Goldman Sachs reduced its estimate for Disney's fiscal 2025 earnings per share from $5.22 to $5.14. The storm is projected to make landfall around the Tampa area, which hasn't been hit directly by a hurricane since 1921. The storm is then projected to head toward Orlando, where Disney World is located, as it decreases in intensity. Spokespeople for Disney did not immediately respond to CNBC's request for comment on the new earnings estimates.

Persons: Hurricane Helene, Hurricane Milton, Walt Disney, Goldman Sachs, Hurricane Irma, hasn't Organizations: Magic, Walt Disney, Walt, Disney's Parks, Disney, Disney's Locations: Hurricane, Bay Lake , Florida, Florida, Tampa, Orlando

☆ Alec Baldwin's 'Rust' to debut at Camerimage Festival three years after on-set death
▼ + stars: | 2024-10-03 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +2 min

Three years after the fatal shooting on the set of "Rust," the film is set to make its world premiere at the Camerimage Festival in Poland next month. During the production of the western film in October 2021, star Alec Baldwin fired a prop gun that killed cinematographer Halyna Hutchins. Since the shooting, the film and Baldwin have been ensnared in legal proceedings. The Camerimage festival in Toruń, Poland, is centered around the art of cinematography. "During the festival, we honored Halyna's memory with a moment of silence and a panel of cinematographers discussed safety on set.

Persons: Alec Baldwin, Baldwin, Halyna Hutchins, Prosecutors, Hannah Gutierrez, Reed, Gutierrez, Hutchins, Joel Souza, Marek Zydowicz Organizations: Prosecutors Locations: Santa Fe, New Mexico, Poland, Toruń, Camerimage

☆ 500 Starbucks locations have voted to unionize as labor talks continue
▼ + stars: | 2024-10-01 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +2 min

Demonstrators protest outside a closed Starbucks Corp. location at 505 Union Station in Seattle, Washington, US, on Saturday, July 16, 2022. Baristas at a Starbucks in Bellingham, Washington, became the 500th store to join the Starbucks Workers United union on Monday. Since the first location voted to unionize in 2021, more than 11,000 baristas have joined the union, according to a Tuesday press release. "This milestone is a testament to workers building power from the ground up," said Lynne Fox, president of Workers United. The union and Starbucks announced together in February that negotiations would be taking place through a collaborative process to work toward a foundational framework.

Persons: Baristas, Lynne Fox, Brian Niccol Organizations: Starbucks Corp, Starbucks Workers United, Workers, Starbucks Locations: Seattle , Washington, US, Bellingham , Washington, Bellingham

☆ EchoStar to sell Dish to DirecTV, combining major pay-TV providers
▼ + stars: | 2024-09-30 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +3 min

EchoStar is selling its Dish TV provider and digital business Sling to rival DirecTV in a deal announced Monday that brings together two of the largest pay-TV providers. Combined, DirecTV and Dish will serve close to 20 million customers, according to Reuters. The content distribution industry as a whole has been on a major decline, Akhavan said, and distribution companies such as Dish and DirecTV have fallen behind other platforms with newer technologies and wider reach. Also on Monday, AT&T announced it would sell its entire 70% stake in DirecTV to private equity firm TPG for $7.9 billion. The possibility of a merger between Dish and DirecTV has been rumored for decades.

Persons: Hamid Akhavan, CNBC's, Akhavan, EchoStar, — CNBC's Lillian Rizzo, Alex Sherman Organizations: DirecTV, Dish, Reuters, T, TPG, General Motors, Hughes Electronics, Federal Communications Commission, Rupert Murdoch's News Corporation

☆ Hoda Kotb announces she is leaving NBC's 'TODAY' show
▼ + stars: | 2024-09-26 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +1 min

Hoda Kotb will be leaving her role as a co-anchor on NBC's "TODAY" show early next year, she announced in a letter to staff on Thursday. Kotb first joined NBC News in 1998 as a correspondent, regularly appearing on "Dateline." In 2007, she became the inaugural host of the fourth hour of "TODAY," later joined by Kathie Lee Gifford and then Jenna Bush Hager. Family is family and you all will always be a part of mine." Disclosure: NBCUniversal is the parent company of CNBC and NBC, which broadcasts "TODAY."

Persons: Hoda, Kotb, Kathie Lee Gifford, Jenna Bush Hager, Savannah Guthrie, I've Organizations: NBC News, NBC, CNBC Locations: NBCUniversal

☆ SEC charges Merrill Lynch, Harvest Volatility Management for ignoring client investment limits
▼ + stars: | 2024-09-25 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +2 min

The Securities and Exchange Commission charged Harvest Volatility Management and Merrill Lynch on Wednesday for exceeding clients' predesignated investment limits over a two-year period. The SEC said Merrill connected its clients to Harvest while it knew that investors' accounts were exceeding the set exposure levels under Harvest's management. Both Merrill and Harvest received larger management fees while investors were exposed to greater financial risks, the SEC said. Both companies were found to neglect policies and procedures that could have been adopted to alert investors of exposure exceeding the designated limits. "Today's action holds Merrill and Harvest accountable for dropping the ball in executing these basic duties to their clients, even as their clients' financial exposure grew well beyond predetermined limits."

Persons: Merrill Lynch, Merrill, Harvest, Mark Cave Organizations: The Securities, Exchange Commission, Bank of America, SEC Locations: New York

☆ Levi's teases Beyoncé collaboration as denim trend takes hold
▼ + stars: | 2024-09-23 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +1 min

Beyoncé at the 2024 iHeartRadio Music Awards held at the Dolby Theatre in Los Angeles on April 1, 2024. Levi Strauss summoned the Beyhive on Monday after teasing a potential collaboration with Beyoncé in a post on Instagram. Aside from the allusions to Beyoncé's latest album, "Cowboy Carter," Levi's also tagged the superstar's account in the post, fueling buzz from her fanbase, known as the Beyhive. Levi's second-quarter earnings in June missed Wall Street's sales expectations, but the brand's leadership has maintained that the future of denim is bright. Representatives for Levi's did not immediately respond to CNBC's request for comment on the potential Beyoncé collaboration.

Persons: Levi Strauss, Cowboy Carter, Levi's, Michelle Gass Organizations: Dolby Theatre, Beyoncé, Abercrombie, Fitch Locations: Los Angeles

☆ Coca-Cola and Bacardi testing canned rum and cokes
▼ + stars: | 2024-09-17 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +2 min

Coca-Cola just ordered another round in the booming canned cocktail market. It's going with another classic, launching a rum and coke in collaboration with Bacardi Limited. The two brands announced Tuesday plans to release the ready-to-drink cocktail in several international markets, starting with an initial launch in Mexico and select European markets in 2025. The new drink isn't Coke's first entry into the premixed cocktail market. Later that same year, Coca-Cola brand Sprite partnered with Pernod Ricard's Absolut Vodka for two versions of a premixed cocktail, one with Sprite and the other with Sprite Zero Sugar.

Persons: Molson Coors, Hard Seltzer, Brown Forman, Jack Daniels, Coke, Pernod, James Quincey, seltzer Organizations: Bacardi Limited, CNBC, U.S ., Spirits Council, Molson, Boston Beer, View Research Locations: Mexico, U.S

☆ Biden administration awards Intel up to $3 billion under the Chips Act
▼ + stars: | 2024-09-16 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +2 min

The Biden Administration on Monday awarded Intel up to an additional $3 billion under the CHIPS and Science Act for the "Secure Enclave" program which is designed to expand the supply of microelectronics for the U.S. Department of Defense. Intel is building foundry plants in four states as part of its project to increase domestic semiconductor manufacturing for other suppliers. In March, the Biden administration awarded Intel with up to $8.5 billion under the CHIPS and Science Act. Intel CEO Pat Gelsinger, in a recent meeting with Commerce Secretary Gina Raimondo, voiced frustration over the heavy reliance that U.S. companies have on Taiwan Semiconductor Manufacturing, the world's largest contract chipmaker. The company announced in August it would cut 15% of its workforce as part of a $10 billion cost-reduction plan.

Persons: Biden, Pat Gelsinger, Gina Raimondo, Intel's, Chris George, —, Seema Mody, Rohan Goswami Organizations: Biden, U.S . Department of Defense, Intel, CNBC, Taiwan Semiconductor Manufacturing, Department of Defense, Rapid, Microelectronics, United States Locations: United

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