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CNN —Some travelers pick a city break based on the destination’s cultural offerings – shortlisting the best museums and galleries to visit. It’s these gourmand travelers Time Out had in mind when the global media organization put together a new ranking of the world’s best foodie cities. “Food is everything when traveling,” Grace Beard, Time Out’s travel editor told CNN Travel. The city’s Central restaurant, recently named as number one in the 2023 World’s 50 Best Restaurants awards, naturally gets a mention too. Alexandr Milodan/iStockphoto/Getty ImagesOther cities on the list include Ho Chi Minh City (number four), Beijing (number five) and Bangkok (number six).
Persons: ” Grace Beard, margherita, Maradona’s, Andrea Viviani, , Santa, It’s, Diego Armando Maradona, Roberto Madrid, Cris Bouroncle, Thando Moleketi, Williams, Alexandr Milodan, Ho, Out’s Grace Beard, Beard, Alice Porter Organizations: CNN, CNN Travel, Santa Maradona, Naples, Getty, De, Liverpool, Michelin, Food Locations: Italian, Naples, , Lima, Peru, Peruvian, AFP, South African, Johannesburg, Braamfontein, De Beer, African, Ho Chi Minh City, Beijing, Bangkok, Portland , Oregon, , Portland, Liverpool, Cities, Italy, South Africa, Vietnam, China, Thailand, Kuala Lumpur, Malaysia, Mumbai, India, Dubai, UAE, Portland, USA, Medellín, Colombia, Seville, Spain, Porto, Portugal, Marrakech, Morocco, Lyon, France, Sydney, Australia, Montreal, Canada, Osaka, Japan, Copenhagen, Denmark
Salesforce stock plunged 21% after the company reported its first revenue miss since 2006. AdvertisementSalesforce stock plunged as much as 21% on Thursday after the company reported its first revenue miss since 2006. Here are the key numbers:AdvertisementQ1 Revenue: $9.13 billion, versus analyst estimates of $9.17 billion$9.13 billion, versus analyst estimates of $9.17 billion Q1 Adjusted earnings per share: $2.44, versus analyst estimates of $2.38$2.44, versus analyst estimates of $2.38 Q2 Revenue guidance: $9.2 billion to $9.25 billion, versus analyst estimates of $9.37 billion"Macro headwinds returned with a vengeance," analysts at Citi said in a note on Thursday. AdvertisementGoldman Sachs reiterated its "Buy" rating on Salesforce and categorized the weakness in the company's results as "cyclical headwinds" that should ultimately dissipate. AdvertisementCiti reiterated its "Neutral" rating and took a more cautious view on Salesforce following their results.
Persons: , Goldman Sachs, Dan Ives, Ives Organizations: Service, Citi, Bank of America, Sales
The latter fact is on display in our list of top-five performing portfolio stocks since the April 24 close through Wednesday's close, the eve of our May meeting. The chipmaker jumped 44.1% since April's Monthly Meeting. 4, Eli Lilly stock jumped 10.8% since our April 24 meeting. A slew of promising AI announcements helped fuel the stock's strong performance since the April meeting. More broadly, Broadcom has been one of the portfolio's biggest beneficiaries of the AI trade.
Persons: Dow, Jim Cramer, we're, Jim, Costco, Eli Lilly's, Eli Lilly, Jim Cramer's, Spencer Platt Organizations: Nasdaq, Dow Jones Industrial, Nvidia, Apple, China Academy of Information, Communications Technology, iPhone, Bank of America, Costco, Costco Wholesale, Walmart, Club, Broadcom, CNBC, Traders, New York Stock Exchange, Getty Locations: Wednesday's, China, U.S, Google's, New York City
Ulta Beauty reported on Thursday fiscal first-quarter earnings that showed the effects of a slowdown its CEO had previously warned about. Ulta reported that it is now expecting net sales in the range of $11.5 billion to $11.6 billion and comparable sales in the range of 2% to 3%. The company previously guided to full-year net sales of $11.7 billion to $11.8 billion and comparable sales of 4% to 5%. Ulta CEO Dave Kimbell in April warned of cooling demand in the beauty category at an investor conference. AI-powered beauty company Oddity Tech recently told CNBC the industry isn't seeing so much a slowdown, but a shift.
Persons: Ulta, Dave Kimbell, Kimbell, Lindsay Drucker Mann, Baird, Jane Hali Organizations: LSEG, Tech, CNBC, Associates
Kohl's stock plummets 20% after massive earnings miss
  + stars: | 2024-05-30 | by ( Sean Conlon | ) www.cnbc.com   time to read: +2 min
Shoppers walk in front of a Kohl's store in Mount Kisco, New York. Kohl's shares plummeted more than 20% in premarket trading Thursday after the company posted a surprise loss per share, coming in well below Wall Street's expectations for a slight profit. Net sales decreased 5.3% to $3.18 billion compared with the year prior, with comparable sales down 4.4%. Kohl's expects full-year diluted earnings per share in the range of $1.25 to $1.85 — far lower than the $2.34 per share expected, according to LSEG. Kohl's announced in March that it would add similar in-store outposts of Babies R Us to about 200 locations.
Persons: Kohl's, LSEG, Tom Kingsbury, Kingsbury Organizations: LSEG, Wall Street Locations: Mount Kisco , New York
Even a sharp sell-off in Salesforce stock Thursday — down as much as 21% intraday — isn't keeping some analysts on Wall Street from sticking with their optimistic outlooks on the maker of customer relationship management software. Salesforce executives tied the disappointing results to elongated deal cycles throughout the first quarter that hit the company's booking schedule. Weiss reiterated an overweight rating on Salesforce, albeit with a $320 per share price target, down from $350. Goldman Sachs analyst Kash Rangan reiterated a buy rating on Salesforce stock, but lowered his price target to $315 per share from $345. The analyst reiterated an overweight rating on the stock with a $300 per share price target, or about 10% upside from yesterday's close.
Persons: Goldman Sachs, Morgan Stanley, JPMorgan Chase, Keith Weiss, Weiss, Kash Rangan, Rangan, Mark Murphy, Tyler Radke, Radke Organizations: Wall, JPMorgan, Citigroup Locations: Salesforce, CY25
Wall Street sell-side research is a key part of the financial markets, written by analysts working for brokerage firms, investment banks and other institutions. Research reports An analyst's published research report might include a company overview with basic information about a company's business, products and position in the relevant market. This is especially true when an analyst is first initiating research coverage into a particular company or industry. Analyst recommendations affect stock prices every day , especially if an analyst or her firm is highly reputable or believed to hold expertise in a particular area. Contrarian indicators Analyst recommendations can occasionally act as a contrarian indicator , too.
Persons: Merrill Lynch, Henry Blodgett, Merrill Organizations: Research, Wall, Sarbanes, Oxley, Global, Securities and Exchange Commission, National Association of Securities Dealers, CNBC Pro Locations: Sarbanes
A Best Buy store stands outside of a Brooklyn mall on August 29, 2023 in New York City. Best Buy on Thursday missed Wall Street's quarterly sales expectations, but stressed higher profits and lower costs as softer demand for consumer electronics continues. Adjusting for one-time items, including restructuring charges, Best Buy reported earnings of $1.20 per share. She did not specify the number of layoffs, but said Best Buy would invest in areas that could drive growth, like artificial intelligence. Best Buy on Thursday adjusted its full-year capital expenditures forecast to an estimate of $750 million, down from as much as $800 million.
Persons: Corie Barry, Barry, Matt Bilunas Organizations: LSEG, Apple, Microsoft Locations: Brooklyn, New York City, U.S, Minneapolis
CNN —Elon Musk has sought to accumulate political capital commensurate with his extravagant wealth. Musk has discussed advising Trump should he win the 2024 election, the Journal reported, citing unnamed sources. Musk called Trump directly via cellphone to explore a role that could potentially give Musk significant influence over US policies. Reporting that Musk and Trump’s relationship has improved comes after Musk’s politics have become more aligned with Trump’s. For Musk to have a direct, private line to a future President Trump “would seem to be a blatant conflict of interest,” said Darrell West, a senior fellow in the governance studies program at the Brookings Institution.
Persons: CNN — Elon Musk, Musk, Donald Trump, Trump, Brian Hughes, , Andrew Harnik, , Darrell West, ” West, Herika Martinez, , Donald Trump’s, Biden, Ron DeSantis, Robert Kennedy , Jr, Paul Pelosi, Hillary Clinton, White supremacists, Imran Ahmed, X, CCDH, Donie O’Sullivan Organizations: CNN, Republican, Wall Street, Trump, SpaceX, Tesla, Brookings Institution, Securities and Exchange Commission, Federal Trade Commission, Traffic Safety Administration, Justice Department, Migrants, US Border Patrol, AFP, Getty, Twitter, US, Republican Florida, Politico Locations: Paris, El Paso , Texas, Ciudad Juarez, Chihuahua State, Mexico
We asked seven pro investors to identify the best trades of their careers and explain how the lessons from those decisions still apply today. The CBOE Volatility Index, also known as the VIX, shot above 40, essentially meaning traders were betting that the stock market would be exceptionally rocky over the following month. Jeff Muhlenkamp, lead portfolio manager at Muhlenkamp & CompanyJeff Muhlenkamp Muhlenkamp & CompanyJeff Muhlenkamp's namesake Muhlenkamp Fund (MUHLX) has been in the top 3% of its category in the past half-decade, thanks to trades like one he pulled off on Chinese internet firm Baidu (BIDU). "I pretty much expected, 'OK, if I get a double out of this in five years, I'll be happy' — that's pretty decent money," Muhlenkamp said. He noted that industrials within the Russell Mid Cap value index have returned 116% over the previous five years.
Persons: , That's, Michael Burry, Warren Buffett, Berkshire, Rob Arnott, Tim Boyle, Arnott, I'd, Bob Elliott, Bob Elliott's, Elliott, Jeff Muhlenkamp, Jeff Muhlenkamp Muhlenkamp, Jeff Muhlenkamp's, Muhlenkamp, you've, Sona Menon, Cambridge Associates Sona Menon, Bryant VanCronkhite, Allspring Bryant VanCronkhite Allspring Bryant VanCronkhite, VanCronkhite, Russell, industrials, James Davolos, Davolos, George Patton, Harley Bassman, Harley Bassman's, Bassman, Merrill Lynch, I'm Organizations: Service, American Express, Business, Research, Bloomberg, Getty, Bridgewater Associates, Treasury, Securities, Muhlenkamp, Baidu, Google, North, Cambridge Associates, Allspring, Horizon Kinetics, Opportunities Fund, Credit Suisse Locations: industrials, West Africa, New York City, Guinea
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAn ultra-luxe "Billionaire's Row" residential tower has been mired in a lengthy legal dispute, and some owners are now fleeing the building, according to a report in The Wall Street Journal. The condominium board at 432 Park Avenue in midtown Manhattan — once the tallest residential building in the Western Hemisphere — first sued the building's developers in 2021. In the three years since the initial lawsuit, the battle has intensified, with more than 4 million pages of documents filed in court, according to The Wall Street Journal. AdvertisementEighteen units in 432 Park, totaling 14% of the building's units, were listed for sale as of mid-May, the Wall Street Journal analysis found, citing data from StreetEasy.
Persons: Organizations: Service, Street, Hemisphere, Business, Wall Street, Wall Locations: midtown Manhattan —, New York City, StreetEasy
A Foot Locker store in New York, US, on Monday, May 27, 2024. Foot Locker's turnaround is starting to bear some fruit. Dillon, the former CEO of Ulta Beauty , has been working to turn around Foot Locker, but those efforts have taken longer than expected. Dillon has also been working to revamp Foot Locker's stores, where it still does about 80% of its annual sales. "And I think it's coming to life in a way that our brand partners are thrilled with.
Persons: Locker's, Foot Locker, It's, Mary Dillon, Dillon, Locker, John Donahoe, She's, We've Organizations: LSEG, CNBC, Nike, Dick's Sporting Goods Locations: New York
A small group of stocks are on the verge of forming a worrisome chart pattern known as a "death cross ." A death cross occurs when a stock's 50-day moving average falls below its 200-day average. Baxter International Stock in medical equipment maker Baxter International is also on the verge of a death cross. Other stocks nearing a death cross chart pattern include Illinois Tool Works and Abbott Laboratories . While the golden cross suggests a potential uptrend, ITW is now approaching the bearish death cross chart pattern only five months later.
Persons: Goldman Sachs, Bonnie Herzog, Clorox, TD Cowen, Joshua Jennings, Baxter, Jennings, Abbott's Organizations: Nasdaq, CNBC, Baxter International Stock, Baxter, Abbott Laboratories ., Tool, Abbott Laboratories, U.S . Food, Drug Administration Locations: Hillrom, Illinois, U.S
Nordstrom on Thursday fell short of Wall Street's quarterly earnings expectations, as its off-price chain Rack outperformed the rest of its stores. Despite the earnings miss, the Seattle-based department store operator posted sales growth and stuck by its full-year forecast. Nordstrom has leaned on its off-price chain, Nordstrom Rack, to drive growth. For its fiscal first quarter, Nordstrom posted a net loss of $39 million, versus a net loss of $205 million in the prior-year period. In the quarter, Nordstrom said active, kids' and women's apparel had strong double-digit growth versus the prior year.
Persons: Nordstrom, It's, Bruce Nordstrom, Erik Nordstrom, Pete Nordstrom Organizations: Nordstrom, LSEG Locations: New York, Seattle, Maxx
U.S. PCE data will be 'scrutinized heavily,' strategist says
  + stars: | 2024-05-30 | 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 EmailU.S. PCE data will be 'scrutinized heavily,' strategist saysMehvish Ayub, senior investment strategist at State Street Global Advisors, says last week's purchasing managers' index data was "quite a shocker."
Persons: Mehvish Ayub Organizations: U.S, PCE, State Street Global Advisors
The house featured in "Home Alone" is located in the Chicago suburb of Winnetka. Over 30 years since the release of the classic film "Home Alone," the iconic house featured in the movie is up for sale. Located in the Chicago suburbs, 671 Lincoln Avenue Winnetka, Illinois 60093 is on the market for $5.25 million, according to representatives from the Coldwell Banker Realty's Dawn McKenna Group. Dawn McKenna Group, Coldwell Banker RealtyThe redbrick Georgian home was built in 1921 and is 9,126 square feet, with five bedrooms and six bathrooms. Dawn McKenna Group, Coldwell Banker Realty
Persons: Dawn McKenna, haven't, Macaulay, Kevin McCallister Organizations: Coldwell, Dawn McKenna Group, Coldwell Banker, Wall Street Locations: Chicago, Winnetka, Lincoln, Winnetka , Illinois, Illinois
But I was really a kid when I wasn't on set," Hoffmann tells Business Insider. To have a partner in crime, saying, 'We don't really know what we're doing. On the paternal energy on the 'Field of Dreams' set and working with child actors as an adultHoffmann played Kevin Costner's daughter in "Field of Dreams." Christina and I met and we became really, really, really close. And after a decade of feeling like I didn't know what the hell I was doing, that was such a profound relief.
Persons: Gaby Hoffmann, , Hoffmann, Warhol, Viva, Anthony Herrera, Kevin Costner's, Uncle Buck, Macaulay Culkin, Michael Cera, Adam Driver's, Lena Dunham's, Eric, Vincent, Benedict Cumberbatch, Cassie, Edgar disappears, Eric whom he's, Edgar, Cumberbatch, Ray Liotta, Christina Ricci, Ivan Morris Howe, Ivan —, isn't, they're, Ivan, Benedict, Ray, Amy Madigan, Kevin Costner, We'll, Ashleigh Aston Moore, Thora Birch, You've, Christina, Lesli Linka Glatter, Demi Moore, you've, I, I've, I'd, Sebastián Silva Organizations: Chelsea Hotel, Business, Sundance, Lena Dunham's HBO, Netflix, Hollywood, New York Times Locations: Hollywood
Foot Locker surged Thursday after its quarterly earnings report showed signs that CEO Mary Dillon's turnaround plan is starting to pay off. At its highs of the session Thursday, Foot Locker was up nearly 32% before giving up some of those gains. That counts for something, especially when Foot Locker's stock entered Thursday down nearly 35% since the session before the March disaster. Encouragingly, Dillon told CNBC that Foot Locker and Kids Foot Locker saw positive comp-store sales. Foot Locker Why we own it: We are in Foot Locker for the turnaround.
Persons: Locker, Mary Dillon's, Dillon, Thursday's, Foot, Mary Dillon, Jim Cramer, Encouragingly, comps, Nike, we've, Jim Cramer's, Jim, Xavi Lopez Organizations: LSEG, CNBC, Nike, Holding, JD, Dick's Sporting Goods, Shoppers, Lightrocket, Getty Locations: Oregon, It's, Spain
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDefinitely see macro headwinds in software but they depend on time horizon, says Okta CEOTodd McKinnon, Okta co-founder and CEO, joins 'Squawk on the Street' to discuss McKinnon's macroeconomic concerns around software, if the headwinds are causing strategic shifts, and much more.
Persons: Todd McKinnon, Okta
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket is in the 'digestion phase' of new software applications, says Jefferies' Brent ThillBrent Thill, Jefferies tech sector leader, joins 'Squawk on the Street' to discuss what happened with Salesforce's quarterly earnings results, where Salesforce will be spending more of its capital, and much more.
Persons: Jefferies, Brent Thill Brent Thill Organizations: Jefferies
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBond market is 'in the driver seat' for the equity market right now, says Schwab's Liz Ann SondersLiz Ann Sonders, Charles Schwab chief investment strategist, joins 'Squawk on the Street' to discuss if history's reliable to count on the stock market, what's getting called into question, and more.
Persons: Liz Ann, Liz Ann Sonders, Charles Schwab, what's
Goldman Sachs raises target on Eli Lilly: Here's why
  + stars: | 2024-05-30 | 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 EmailGoldman Sachs raises target on Eli Lilly: Here's whyChris Shibutani, Goldman Sachs anlayst, joins 'Squawk on the Street' to discuss what gives the analyst the confidence Eli Lilly and Novo Nordisk can continue to perform, what happens to the anti-obesity industry in 2030, and how the market will evolve.
Persons: Goldman Sachs, Eli Lilly, Here's, Chris Shibutani, Goldman Sachs anlayst Organizations: Novo Nordisk
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Walmart U.S. CEO: Consumer is focusing on the 'real heavy burden' in food and rent costsBill Simon, former Walmart U.S. CEO, joins 'Squawk on the Street' to discuss the recent retail quarterly earnings results, how affluent consumers are creating a bubble at Walmart, and much more.
Persons: Bill Simon Organizations: Former Walmart U.S, Consumer, Walmart U.S, Walmart
Its peak $100 billion valuation once made it the world's third largest privately-held company, behind TikTok owner Bytedance and Elon Musk's SpaceX. Estimates have pegged Shein's IPO valuation at around $90 billion, Bloomberg reported last year. AdvertisementTo gauge what happens to some Shein items once they're returned, BI reporters in the UK put two AirTag trackers on Shein garments and sent them back. Shein is more directly involved in production and focuses on clothes, but Temu's popularity "could affect the valuation," Swartz said. In a November statement following the news of Shein's IPO, chairman Mike Gallagher urged investors and banks underwriting the move to "carefully examine Shein's regulatory and compliance programs."
Persons: , Bytedance, Sky Xu, Yangtian Xu, Chris, Shein, confidentially, David Swartz, Swartz, Lululemon, JADE GAO, Stephanie Benedetto, Queen, Benedetto, they're, Shein's, Morningstar's Swartz, Temu, Mike Gallagher Organizations: Service, Elon, SpaceX, Business, Reuters, Authentic Brands, Wall Street, CNBC, Bloomberg, Morningstar, Zurich Insurance Group, Guardian, BI, Coventry Airport, SEC, Street, Financial Times, London Stock Exchange, Chinese Communist Party, Nike, Adidas Locations: China, , Singapore, Sequoia China, London , Hong Kong, York, London, Canary Wharf, Coventry, Walsall, Northern Ireland, England, Kent, Washington, Xinjiang, Dublin, Shein
Read previewThe jury in Donald Trump's criminal hush-money trial had a specific request before starting deliberations on Thursday — they asked to hear again what they described in a note as the judge's "rain metaphor" instruction. It advises a jury that they can infer that it's raining — by seeing someone's wet umbrella, for example — even if they don't see the rain themselves. The "rain metaphor," as the jury note called it, is often used by judges in jury instructions. AdvertisementOn Wednesday afternoon, they asked for the judge to read back roughly a half-hour of testimony. After the judge completed his recitation of the jury instructions, two of the court stenographers re-read portions of the testimony.
Persons: , Donald Trump's, Juan Merchan, Merchan, scribbled, Trump, Stormy Daniels, Daniels, Donald Trump, MARK PETERSON, Getty Images Trump, Michael Cohen, stenographers, David Pecker Organizations: Service, Business, New, Trump, Getty Images, Election, National Enquirer Locations: raincoats
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