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Stock splits, long out of favor, are making a comeback. Notable stock splits in 2024(when distributed)Walmart 3-1 2/23/24Cooper Companies 4-1 2/16/24Texas Pacific Land 3-1 3/27/24Old Dominion Freight Line 2-1 3/27/24Nvidia 10-1 6/7/24Amphenol 2-1 6/11/24Chipotle Mexican Grill 50-1 6/25/24Broadcom 10-1 7/12/24Williams-Sonoma 2-1 7/8/24Cintas 4-1 9/11/24Sony Group 5-1 10/8/24Lam Research 10-1 10/3/24Why the comeback in stock splits? Stock splits are far less common now than 20 or 30 years ago. During the tech and internet bubble of the late 1990s, stock splits were common. By the mid-2000s, roughly 5% of the Russell 1000 members split their stock each year, and after the great financial crisis from 2008-2009, stock splits practically ceased.
Persons: Williams, David Kostin, Goldman Sachs, Russell, Chipotle Organizations: New York Stock Exchange, Stock, Walmart, Sonoma, Broadcom, Cooper, Pacific, Dominion Freight, Sony, Institutional, Nvidia, Risk, Financial Management, Lam Research, Booking Holdings, Costco, Micro, Spotify Locations: Williams, Sonoma
The Federal Open Market Committee statement, in which the Fed announced that it left interest rates unchanged, was a modest disappointment for stock bulls. On rate cuts, the majority supported only one rate cut, not two, and four were in favor of no rate cuts. It's a disappointment because so much of an additional leg up in the market is centered around this "Fed pivot," where the Fed moves from keeping rates high to cutting rates. So investors did not get the two rate cuts they wanted. But when compared with the main drivers of this market, it's only a modest disappointment.
Persons: It's Organizations: Fed, Netscape
The public comment period for the Treasury Department's rule formalizing the 1% tax on buybacks closed Tuesday. That means some of the largest companies in America may soon be getting a tax bill. The goal seems to be to discourage corporate America from buying back stock and instead invest more in hiring people and making capital expenditures. "We have a good shot at beating that old record this year," Silverblatt from S & P Global tells me. Higher growth means companies will be more willing to invest in hiring more people and making capital expenditures.
Persons: Joe Biden, Howard Silverblatt, Silverblatt, Biden Organizations: Treasury, Apple, Microsoft, Exxon Mobil, Wells, Chevron, & $ Locations: America
The town of Fasano and surrounding countryside, near the luxury resort of Borgo Egnazia, the venue of the G7 summit, on June 4, 2024. A view of Borgo Egnazia, in Puglia, where the G7 summit will be held from June 13 to 15, taken on May 26, 2014 in Savelletri, Brindisi, Italy. The security machine that will protect the world’s leaders of the world’s most advanced economies is well established, and headed by DIGOS. Workers at the attendee accreditation point for the G7 summit in Fasano, Italy, on Wednesday June 5, 2024. Donato Fasano/Getty ImagesSpecialized military police working with the anti-mafia law enforcement unit are keeping a close watch on known criminal groups.
Persons: Rome, Giorgia Meloni, Francesca Volpi, That’s, Vittorio Pisani, DIGOS, Luigi Carnevale, , Borgo, Donato Fasano, Victoria Beckham, Madonna, Ivanka Trump, Aldo Melpignano, Pope Francis, Recep Tayyip Erdogan, Saudi Arabia’s King Salman bin Abdulaziz Al, Saud, Pisani, ” Pisani Organizations: Rome CNN —, Sacra Corona, Cosa Nostra, Camorra, DIGOS, Brindisi –, Bloomberg, CNN, Interior Ministry, Michelin, Workers, Getty, Saudi, US, Locations: Italian, Puglia, Foggia, Cosa, Sicily, Naples, Calabria, Italy, Balkans, Bari, Brindisi, Fasano, Borgo Egnazia, Savelletri, David, Turkish, United States, Germany, Britain, France, Canada, Japan, Schengen, Borgo Egnazi
Tempus AI = AI in healthcare Tempus AI is seeking to sell 11 million shares at $35-$37 in its IPO and is slated to begin trading this Friday. Intelligent Diagnostics use AI, including generative AI, to make laboratory tests more accurate, tailored, and personal. AI IPOs: few and far between While AI is again the big investment theme of 2024, AI-themed IPOs have been few and far between. But the appetite for AI IPOs is large, and investors are scanning for new investments. Although the anticipated flood of AI IPOs has not yet materialized, Matt Kennedy is confident more are coming.
Persons: Matt Kennedy, Howe Ng, Ng, IPOs Organizations: Nasdaq, Astera Labs, Renaissance Capital, Nvidia, Cerebras Systems, Citigroup, Tempus, Forge Global Holdings
Virtu Financial CEO on retail trading, future of AI and more
  + stars: | 2024-06-05 | 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 EmailVirtu Financial CEO on retail trading, future of AI and moreVirtu Financial CEO Doug Cifu and CNBC's Bob Pisani join 'ETF Edge' from the Piper Sandler Global Exchange Conference to discuss the volatility in the market, retail trading volumes, and AI's impact on trading.
Persons: Doug Cifu, Bob Pisani, Piper Sandler Organizations: Virtu, Piper Sandler Global Exchange Conference
[The stream is slated to start at 1:15 PM ET. Please refresh the page if you do not see a player above at that time.] CNBC's ETF Edge is dedicated to the fastest-growing trend in investing right now: ETFs. Every Monday, Bob Pisani will be joined by a panel of top market participants to offer educational and actionable advice to help you build your best portfolio.
Persons: Bob Pisani Organizations: Edge
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed is likely 'keeping it steady' with one cut this year, says Cantor Fitzgerald's Howard LutnickHoward Lutnick, Cantor Fitzgerald CEO, joins 'Closing Bell Overtime' and CNBC's Bob Pisani to talk AI, the recent market rally, the Federal Reserve and more.
Persons: Cantor Fitzgerald's Howard Lutnick Howard Lutnick, Cantor Fitzgerald, Bob Pisani Organizations: Federal Reserve
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInteractive Brokers founder Thomas Peterffy on the pulse of retail trading, his AI outlook and moreCNBC's Bob Pisani speaks with Thomas Peterffy, the founder and chairman of Interactive Brokers, to discuss his macro outlook, the return of retail traders, and more.
Persons: Thomas Peterffy, Bob Pisani Organizations: Interactive
Tourists line a street in Venice, Italy, on Saturday, March 16, 2024. Italy is caught in an envious trap: it can't live without tourists, but it's having trouble handling the influx, particularly after Covid. He considers himself fortunate he's a boat driver: he pities the poor tourists who rent cars or try to find an elusive taxi. A general picture shows the main facade of the Pantheon in Piazza della Rotonda on March 30, 2024 in Rome, Italy. The famous Villa La Cassinella on the lake can be yours, for 100,000 euros a week.
Persons: Covid, Taylor Swift, Travis Kelce, there's, Croissants, it's, George Clooney's, Villa D'Este, Clooney, Villa, Uber, Rick Steves, Uber Van, Steves Organizations: Villa, Italian Association of Employment, Milanese, risotto Milanese, La Scala, Villa Oleandra Locations: Venice, Italy, Bellagio, Lake Como, Tremezzo, Paris, Piazza della, Rome, Milan, Marche, Sardinia, New York, Camparino, Villa, North America
[The stream is slated to start at 1:15 PM ET. Please refresh the page if you do not see a player above at that time.] CNBC's ETF Edge is dedicated to the fastest-growing trend in investing right now: ETFs. Every Monday, Bob Pisani will be joined by a panel of top market participants to offer educational and actionable advice to help you build your best portfolio.
Persons: Bob Pisani Organizations: Edge
Decisions on additions and deletions to the Dow is made by the S & P Dow Jones Indices Index Committee. The S & P Dow Jones committee also wants to maintain adequate sector representation and it may come to believe there are other companies that better represent that corner of the market. Finally, there is the stock price issue. Unlike the S & P 500, the Dow is price weighted. Bottom line: Nvidia's 10-for-1 stock split makes it a Dow contender, but the committee has a clear preference for stocks that are well-seasoned, and not just sudden superstars.
Persons: Dow, Dow Jones Organizations: Nvidia, Intel, Dow Industrial, Dow, Companies, Cisco, Verizon Communications
Ethereum ETF deadline approaches tonight
  + stars: | 2024-05-23 | 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 EmailEthereum ETF deadline approaches tonightCNBC's Bob Pisani joins Halftime Report with the latest on SEC's decision on Ethereum ETF.
Persons: Bob Pisani
Circuit ruled against the SEC's denial of spot bitcoin ETFs, the regulatory agency "pivoted" and approved those funds in January. The bill sets up a regulatory framework for crypto assets. Gensler said crypto assets — and exchanges in particular exchanges — do not meet this test: "This field is not decentralized. He said crypto exchanges are "operating in ways that are conflicted in ways that traditional exchanges [are not]. Gensler says he is not against financial innovation The SEC chairman pushed back against the claim he was against financial innovation.
Persons: Gary Gensler, Eric Pan, Gensler, Joe Biden's, Pan, We'd Organizations: SEC, U.S . Securities, Exchange Commission, Investment Company, ICI Leadership Summit, U.S ., Appeals, Representatives, Innovation, Technology, Century, Futures
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with BTIG Co-Founder Steven Starker on the reflation trade and AI hypeCNBC's Bob Pisani sits down with BTIG co-founder Steven Starker at the firm's 18th annual Commissions for Charity Day, which brought celebrities from the sports, media, movie and political worlds to the company's trading floor.
Persons: BTIG, Steven Starker, Bob Pisani Organizations: Charity
[The stream is slated to start at 1:15 PM ET. Please refresh the page if you do not see a player above at that time.] CNBC's ETF Edge is dedicated to the fastest-growing trend in investing right now: ETFs. Every Monday, Bob Pisani will be joined by a panel of top market participants to offer educational and actionable advice to help you build your best portfolio.
Persons: Bob Pisani Organizations: Edge
Roundhill to launch active weight loss ETF
  + stars: | 2024-05-20 | 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 EmailRoundhill to launch active weight loss ETFDave Mazza, Roundhill Investments CEO, sits down with CNBC’s Bob Pisani to discuss the firm’s new weight loss ETF (OZEM). They dig into the ETF’s holdings, why it’s actively managed and more.
Persons: Dave Mazza, CNBC’s Bob Pisani, it’s Organizations: Roundhill
CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow breaks through 40,000 barrierThe Dow Jones Industrial Average briefly passed the 40,000 mark for the first time before ending lower. The S&P 500 and Nasdaq also hit record highs but ended the session in negative territory. The Dow has climbed nearly 6% in 2024, while the Nasdaq and S&P 500 are up 11% each. [PRO] New S&P 500 targetsWall Street's recent record highs have prompted market analysts to revise their S&P 500 year-end price targets.
Persons: Dow, John David Rainey, We've, Armour, Armour's, Kleiner Perkins, Bob Pisani Organizations: CNBC, Dow Jones Industrial, Nasdaq, Walmart, GameStop, AMC Locations: North America, Sequoia
Now that the S & P 500 and most major stock market indexes are at or near historic highs, expect a raft of earnings and year-end price target revisions for the S & P 500 to be coming. First up with an upward revision was Brian Belski at BMO Capital, who Wednesday raised his year-end S & P target to 5,600 from 5,100. The median price target (half above, half below) is 5,200. Earnings for the rest of the year have been remarkably stable, but the key point is that each quarter is higher and a record for S & P 500 profits: 2024 S & P 500 quarterly earnings estimates Q2: $59.46 (record) Q3: $63.49 (record) Q4: $65.08 (record) Source: LSEG Valuations (roughly 20 times forward S & P 500 earnings) are pricey but not unreasonable given the continuing strength of the economy and the prospects of AI-boosted returns. May: market advance broadens (advance/decline line) S & P 500: near new high S & P Mid Cap: new high S & P Small Cap: highest since Dec.
Persons: Sam Stovall, CFRA, Brian Belski, Belski, Subramanian, Venu Krishna, Goldman Sachs, David Kostin, Ned Davis, Ed Clissold, Oppenheimer, John Stoltzfus, Lori Calvasina, Manish, Nicolaus, Barry Banniester, Jonathan Golub, Chris Harvey, Dubravko, Bujas, Cantor Fitzgerald, Eric Johnson, Scott Chronert, Julian Emanuel, Fundstrat, Tom Lee, Morgan Stanley, Mike Wilson, Hugo Ste, Stovall Organizations: BMO Capital, Wall, of America, Barclays, BMO, RBC, Societe Generale, UBS, Bloomberg, Citigroup, Deutsche Bank, ISI, JPMorgan, Scotiabank, @VX Locations: Wells Fargo, Marie
The Dow Jones Industrial Average hit the 40,000 milestone for the first time on Thursday, about 19 months after the last time it crossed the 30,000 threshold. Since last passing 30,000 on Oct. 17, 2022, no Dow stock has seen a bigger percentage gain than Caterpillar – which has almost doubled in price. Keep in mind that the Dow is a price-weighted index that gives higher-priced stocks more influence. Five of the Dow's 30 stocks – Microsoft, Caterpillar, Goldman Sachs , Salesforce and American Express – have made up half of the index's overall gains in the journey from 30,000. Only one stock – Johnson & Johnson – is decisively lower since the Dow last crossed 30,000.
Persons: Dow, Goldman Sachs, Salesforce, – Johnson, Johnson – Organizations: Dow Jones, Dow, Caterpillar, Microsoft, Express
Meme stocks are having a moment, but the broader market is rallying as well. While GameStop's 74% rally got a lot of attention Monday ( "meme stocks are back!" ), the evidence indicates that a broad rally is dragging up a lot of stuff that hasn't been performing well this year. The S & P 600 Small Cap advance/decline is also near the highest levels since December, while the S & P Mid Cap 400 advance/decline line is at a new high. So when you hear the tired old refrain, "meme stocks are back," take a look at the rest of the market.
Persons: hasn't, Marko Kolanovic, Morgan, BoE, Ryan Detrick Organizations: Fed, ECB, Intel, Nike, Comcast, ChargePoint Holdings, CRISPR Therapeutics, Unity Software, Carson Group, CNBC
Watch now: ETF Edge on the future of spot ethereum ETFs
  + stars: | 2024-05-13 | by ( Bob Pisani | ) www.cnbc.com   time to read: 1 min
[The stream is slated to start at 1:15 PM ET. Please refresh the page if you do not see a player above at that time.] CNBC's ETF Edge is dedicated to the fastest-growing trend in investing right now: ETFs. Every Monday, Bob Pisani will be joined by a panel of top market participants to offer educational and actionable advice to help you build your best portfolio.
Persons: Bob Pisani Organizations: Edge
Future of spot ethereum ETFs
  + stars: | 2024-05-13 | 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 EmailFuture of spot ethereum ETFsRic Edelman, head of the Digital Asset Council of Financial Professionals and former head of Edelman Financial Engines sits down with CNBC’s Bob Pisani to discuss the next crypto ETF the market is gearing up for and the state of spot bitcoin ETFs.
Persons: Ric Edelman, CNBC’s Bob Pisani Organizations: Digital Asset, Financial Professionals, Edelman
A rapidly rising market has caught a lot of investors off-guard. He loves to watch what he calls the "pain trade," the move in the markets that would catch the largest number of active investors off-guard. Surveying Monday's late-day rally on the floor, Anderson looked up at the NYSE boards and said, "the pain trade is up." The S & P 500 is now within 1.4% of its old closing high of 5,254 from March 28th. The STOXX Europe 600, essentially the S & P 500 of Europe, is also less than 1% below an historic high.
Persons: Tim Anderson, Anderson, It's, Nicholas Colas, DataTrek, Ingersoll Rand, Parker, Hannifin, it's, Alec Young, MAPsignals.com Organizations: MND Partners, NYSE, Nasdaq, Utilities, Reuters, Southern Company, EatoN Corp Locations: Europe, industrials
Tech: Big inflows with one exception
  + stars: | 2024-05-06 | 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 EmailTech: Big inflows with one exceptionNathan Geraci, The ETF Store President, joins CNBC’s Bob Pisani on ETF Edge to discuss the big inflows into tech
Persons: Nathan Geraci, Bob Pisani Organizations: Email Tech, Edge
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